IXC vs. MDST

Last updated Jun 24, 2026

IXC (iShares Global Energy ETF) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both Energy Equities funds. IXC is passively managed, while MDST is actively managed. Over the past year, IXC returned 31.78% vs 20.94% for MDST. A 0.56 correlation means they provide meaningful diversification when combined. IXC charges 0.40%/yr vs 0.80%/yr for MDST.

Performance

IXC vs. MDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) and Westwood Salient Enhanced Midstream Income ETF (MDST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IXC achieves a 22.29% return, which is significantly higher than MDST's 16.53% return.

IXC

• 1D: 0.44%
• 1M: -8.68%
• YTD: 22.29%
• 6M: 23.05%
• 1Y: 31.78%
• 3Y*: 16.38%
• 5Y*: 17.77%
• 10Y*: 9.38%

MDST

• 1D: 1.73%
• 1M: -1.91%
• YTD: 16.53%
• 6M: 16.66%
• 1Y: 20.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IXC vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IXC iShares Global Energy ETF	22.29%	13.98%	-10.58%
MDST Westwood Salient Enhanced Midstream Income ETF	16.53%	7.09%	17.03%

Correlation

The correlation between IXC and MDST is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024	0.56

The correlation between IXC and MDST has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

IXC vs. MDST - Sectors Allocation Comparison

Sectors	IXC	MDST
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IXC vs. MDST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IXC

IXC Risk / Return Rank: 49
IXC Sharpe Ratio Rank: 51
IXC Sortino Ratio Rank: 46
IXC Omega Ratio Rank: 45
IXC Calmar Ratio Rank: 50
IXC Martin Ratio Rank: 51

MDST

MDST Risk / Return Rank: 55
MDST Sharpe Ratio Rank: 53
MDST Sortino Ratio Rank: 54
MDST Omega Ratio Rank: 52
MDST Calmar Ratio Rank: 67
MDST Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IXC vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and Westwood Salient Enhanced Midstream Income ETF (MDST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IXC	MDST	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.69	-0.01
Sortino ratio: Return per unit of downside risk	2.22	2.42	-0.19
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.40	3.12	-0.72
Martin ratio: Return relative to average drawdown	8.40	8.43	-0.04

IXC vs. MDST - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 1.68, which is comparable to the MDST Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of IXC and MDST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IXC vs. MDST - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, which is greater than MDST's maximum drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for IXC and MDST.

Drawdown Indicators

	IXC	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-67.88%	-14.19%	-53.69%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-6.74%	-6.57%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	—	—
Current Drawdown Current decline from peak	-11.99%	-2.20%	-9.79%
Average Drawdown Average peak-to-trough decline	-17.46%	-2.20%	-15.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	2.49%	+1.31%

Volatility

IXC vs. MDST - Volatility Comparison

iShares Global Energy ETF (IXC) has a higher volatility of 6.54% compared to Westwood Salient Enhanced Midstream Income ETF (MDST) at 4.87%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than MDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IXC	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	4.87%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	15.76%	8.71%	+7.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.16%	12.45%	+6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	16.11%	+7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.83%	16.11%	+10.72%

IXC vs. MDST - Expense Ratio Comparison

IXC has a 0.40% expense ratio, which is lower than MDST's 0.80% expense ratio.

Dividends

IXC vs. MDST - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 3.11%, less than MDST's 9.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXC iShares Global Energy ETF	3.11%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
MDST Westwood Salient Enhanced Midstream Income ETF	9.20%	10.22%	6.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IXC and MDST in my portfolio?

IXC and MDST have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IXC or MDST?

IXC has higher volatility (6.54%) compared to MDST (4.87%). In terms of maximum drawdown, IXC dropped -67.88% vs MDST's -14.19%.

Which ETF is better, IXC or MDST?

On 1-year performance, IXC leads with 31.78% vs 20.94% for MDST. On fees, IXC is cheaper at 0.40% per year. On volatility, MDST has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXC or MDST?

Over the 1-year period, IXC has performed better with a 31.78% return vs 20.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXC or MDST?

IXC is cheaper with a 0.40% expense ratio, compared with 0.80% for MDST.

Which ETF pays a higher dividend yield, IXC or MDST?

MDST has the higher dividend yield at 9.20%, compared with 3.11% for IXC.

What is the main difference between IXC and MDST?

They also come from different issuers: iShares and Westwood. Their fees differ too: 0.40% for IXC and 0.80% for MDST.

Which has better risk-adjusted returns?

MDST currently has the higher Sharpe Ratio (1.69 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.