MDST vs. BKGI

Last updated Jun 4, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and BKGI (Bny Mellon Global Infrastructure Income ETF) are both Energy Equities funds. Both are actively managed. Over the past year, MDST returned 17.62% vs 21.78% for BKGI. At a 0.46 correlation, their price movements are largely independent. MDST charges 0.80%/yr vs 0.65%/yr for BKGI.

Performance

MDST vs. BKGI - Performance Comparison

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

Returns By Period

In the year-to-date period, MDST achieves a 14.94% return, which is significantly higher than BKGI's 12.20% return.

MDST

• 1D: 0.14%
• 1M: -0.74%
• YTD: 14.94%
• 6M: 14.77%
• 1Y: 17.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BKGI

• 1D: -0.43%
• 1M: 0.13%
• YTD: 12.20%
• 6M: 12.27%
• 1Y: 21.78%
• 3Y*: 22.14%
• 5Y*: —
• 10Y*: —

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

MDST vs. BKGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	14.94%	7.09%	17.29%
BKGI Bny Mellon Global Infrastructure Income ETF	12.20%	37.53%	9.58%

Correlation

The correlation between MDST and BKGI is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	0.46

The correlation between MDST and BKGI shifts across timeframes, from 0.32 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

MDST vs. BKGI - Sectors Allocation Comparison

Sectors	MDST	BKGI
Energy	100.0%	21.6%
Basic Materials	-	-
Communication Services	-	3.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	14.0%
Real Estate	-	11.5%
Technology	-	-
Utilities	-	49.3%

Return for Risk

MDST vs. BKGI — Risk / Return Rank

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

MDST

MDST Risk / Return Rank: 44
MDST Sharpe Ratio Rank: 41
MDST Sortino Ratio Rank: 42
MDST Omega Ratio Rank: 41
MDST Calmar Ratio Rank: 53
MDST Martin Ratio Rank: 45

BKGI

BKGI Risk / Return Rank: 59
BKGI Sharpe Ratio Rank: 54
BKGI Sortino Ratio Rank: 54
BKGI Omega Ratio Rank: 55
BKGI Calmar Ratio Rank: 70
BKGI Martin Ratio Rank: 64

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.

MDST vs. BKGI - Risk-Adjusted Trends Comparison

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

	MDST	BKGI	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.89	-0.42
Sortino ratio: Return per unit of downside risk	2.13	2.63	-0.50
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.63	3.55	-0.93
Martin ratio: Return relative to average drawdown	7.46	11.67	-4.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDST vs. BKGI - Sharpe Ratio Comparison

The current MDST Sharpe Ratio is 1.47, which is comparable to the BKGI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of MDST and BKGI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MDST	BKGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.89	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.61	-0.45

Drawdowns

MDST vs. BKGI - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, roughly equal to the maximum BKGI drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for MDST and BKGI.

Drawdown Indicators

	MDST	BKGI	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-14.79%	+0.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.74%	-6.16%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.16%	—
Current Drawdown Current decline from peak	-3.53%	-3.14%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.17%	-2.57%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.87%	+0.50%

Volatility

MDST vs. BKGI - Volatility Comparison

Westwood Salient Enhanced Midstream Income ETF (MDST) has a higher volatility of 4.87% compared to Bny Mellon Global Infrastructure Income ETF (BKGI) at 4.17%. This indicates that MDST's price experiences larger fluctuations and is considered to be riskier than BKGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDST	BKGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.17%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	8.36%	9.04%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.12%	11.59%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	14.07%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	14.07%	+2.04%

MDST vs. BKGI - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is higher than BKGI's 0.65% expense ratio.

Dividends

MDST vs. BKGI - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.33%, more than BKGI's 2.69% yield.

Position	TTM	2025	2024	2023	2022
BKGI Bny Mellon Global Infrastructure Income ETF	2.69%	2.65%	4.55%	4.55%	0.53%
MDST Westwood Salient Enhanced Midstream Income ETF	9.33%	10.22%	6.60%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDST and BKGI in my portfolio?

MDST and BKGI have a correlation of 0.32, 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 BKGI?

MDST has higher volatility (4.87%) compared to BKGI (4.17%). In terms of maximum drawdown, MDST dropped -14.19% vs BKGI's -14.79%.

Which ETF is better, MDST or BKGI?

On 1-year performance, BKGI leads with 21.78% vs 17.62% for MDST. On fees, BKGI is cheaper at 0.65% per year. On volatility, BKGI has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDST or BKGI?

Over the 1-year period, BKGI has performed better with a 21.78% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDST or BKGI?

BKGI is cheaper with a 0.65% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.33%, compared with 2.69% for BKGI.

What is the main difference between MDST and BKGI?

They also come from different issuers: Westwood and BNY Mellon. Their fees differ too: 0.80% for MDST and 0.65% for BKGI.

Which has better risk-adjusted returns?

BKGI currently has the higher Sharpe Ratio (1.89 vs 1.47), 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.