MDST vs. BILD

Last updated Aug 2, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and BILD (Macquarie Global Listed Infrastructure ETF) are both exchange-traded funds - MDST is a Energy Equities fund actively managed by Westwood, while BILD is a Infrastructure Equities fund actively managed by Macquarie. Both are actively managed. Over the past year, MDST returned 20.59% vs 16.75% for BILD. Their 0.36 correlation means their historical movements had little consistent relationship. MDST charges 0.80%/yr vs 0.49%/yr for BILD.

Performance

MDST vs. BILD - Performance Comparison

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

Returns By Period

In the year-to-date period, MDST achieves a 18.37% return, which is significantly higher than BILD's 10.49% return.

MDST

• 1D: 0.55%
• 1M: 2.48%
• 6M: 12.41%
• YTD: 18.37%
• 1Y: 20.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.64%

BILD

• 1D: -0.47%
• 1M: 0.88%
• 6M: 6.26%
• YTD: 10.49%
• 1Y: 16.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BILD Macquarie Global Listed Infrastructure ETF	$632.99	$26.02K	$12.55K
MDST Westwood Salient Enhanced Midstream Income ETF	$1.68M	$1.58M	$1.75M

MDST vs. BILD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	18.37%	7.09%	17.03%
BILD Macquarie Global Listed Infrastructure ETF	10.49%	21.08%	0.93%

Correlation

The correlation between MDST and BILD is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024	0.36

MDST vs. BILD - Sectors Allocation Comparison

Sectors	MDST	BILD
Energy	98.5%	19.0%
Industrials	0.8%	22.0%
Basic Materials	-	-
Communication Services	-	4.7%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	1.7%
Healthcare	-	-
Real Estate	-	1.9%
Technology	-	-
Utilities	-	48.8%

Return for Risk

MDST vs. BILD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MDST

MDST Risk / Return Rank: 66
MDST Sharpe Ratio Rank: 61
MDST Sortino Ratio Rank: 61
MDST Omega Ratio Rank: 59
MDST Calmar Ratio Rank: 81
MDST Martin Ratio Rank: 68

BILD

BILD Risk / Return Rank: 70
BILD Sharpe Ratio Rank: 72
BILD Sortino Ratio Rank: 68
BILD Omega Ratio Rank: 70
BILD Calmar Ratio Rank: 82
BILD Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MDST vs. BILD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Midstream Income ETF (MDST) and Macquarie Global Listed Infrastructure ETF (BILD). 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.

	MDST	BILD	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.64	-0.20
Sortino ratio: Return per unit of downside risk	2.06	2.24	-0.18
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	2.95	2.98	-0.02
Martin ratio: Return relative to average drawdown	8.30	7.11	+1.18

MDST vs. BILD - Sharpe Ratio Comparison

The current MDST Sharpe Ratio is 1.44, which is comparable to the BILD Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MDST and BILD, 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

MDST vs. BILD - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, roughly equal to the maximum BILD drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for MDST and BILD.

Drawdown Indicators

	MDST	BILD	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-14.78%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-6.05%	+0.07%
Current Drawdown Current decline from peak	-1.87%	-2.17%	+0.30%
Average Drawdown Average peak-to-trough decline	-2.17%	-3.68%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.53%	0.00%

Volatility

MDST vs. BILD - Volatility Comparison

Westwood Salient Enhanced Midstream Income ETF (MDST) has a higher volatility of 4.47% compared to Macquarie Global Listed Infrastructure ETF (BILD) at 3.28%. This indicates that MDST's price experiences larger fluctuations and is considered to be riskier than BILD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDST	BILD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.28%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	9.18%	9.08%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	11.00%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	13.08%	+2.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.04%	13.08%	+2.96%

MDST vs. BILD - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is higher than BILD's 0.49% expense ratio.

Dividends

MDST vs. BILD - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.20%, more than BILD's 4.67% yield.

Position	TTM	2025	2024	2023
BILD Macquarie Global Listed Infrastructure ETF	4.67%	3.05%	5.53%	0.52%
MDST Westwood Salient Enhanced Midstream Income ETF	9.20%	10.22%	6.60%	0.00%

Frequently Asked Questions

Can I hold both MDST and BILD in my portfolio?

MDST and BILD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDST or BILD?

MDST has higher volatility (4.47%) compared to BILD (3.28%). In terms of maximum drawdown, MDST dropped -14.19% vs BILD's -14.78%.

Which ETF is better, MDST or BILD?

On 1-year performance, MDST leads with 20.59% vs 16.75% for BILD. On fees, BILD is cheaper at 0.49% per year. On volatility, BILD has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDST or BILD?

Over the 1-year period, MDST has performed better with a 20.59% return vs 16.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDST or BILD?

BILD is cheaper with a 0.49% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.20%, compared with 4.67% for BILD.

What is the main difference between MDST and BILD?

MDST is categorized as Energy Equities, while BILD is Infrastructure Equities. They also come from different issuers: Westwood and Macquarie. Their fees differ too: 0.80% for MDST and 0.49% for BILD.

Which has better risk-adjusted returns?

BILD currently has the higher Sharpe Ratio (1.64 vs 1.44), 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.