MDST vs. HMSFX
MDST (Westwood Salient Enhanced Midstream Income ETF) and HMSFX (Hennessy Midstream Fund Investor Class) are both funds - MDST is a Energy Equities fund actively managed by Westwood, while HMSFX is a MLPs fund tracking the Alerian US Midstream Energy Index. MDST is actively managed, while HMSFX is passively managed. Over the past year, MDST returned 18.36% vs 13.96% for HMSFX. Their correlation of 0.83 suggests significant overlap in exposure. MDST charges 0.80%/yr vs 1.75%/yr for HMSFX.
Performance
MDST vs. HMSFX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MDST having a 14.54% return and HMSFX slightly lower at 14.51%.
MDST
- 1D
- 0.98%
- 1M
- -3.58%
- YTD
- 14.54%
- 6M
- 16.10%
- 1Y
- 18.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HMSFX
- 1D
- 0.24%
- 1M
- -6.15%
- YTD
- 14.51%
- 6M
- 15.40%
- 1Y
- 13.96%
- 3Y*
- 20.38%
- 5Y*
- 19.08%
- 10Y*
- —
MDST vs. HMSFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MDST Westwood Salient Enhanced Midstream Income ETF | 14.54% | 7.09% | 17.03% |
HMSFX Hennessy Midstream Fund Investor Class | 14.51% | -0.76% | 16.82% |
Correlation
The correlation between MDST and HMSFX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | 0.83 |
The correlation between MDST and HMSFX has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
MDST vs. HMSFX — Risk / Return Rank
MDST
HMSFX
MDST vs. HMSFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Midstream Income ETF (MDST) and Hennessy Midstream Fund Investor Class (HMSFX). 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 | HMSFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.18 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.12 | +0.62 |
| Martin ratioReturn relative to average drawdown | 7.40 | 4.53 | +2.87 |
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Drawdowns
MDST vs. HMSFX - Drawdown Comparison
The maximum MDST drawdown since its inception was -14.19%, smaller than the maximum HMSFX drawdown of -68.50%. Use the drawdown chart below to compare losses from any high point for MDST and HMSFX.
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Drawdown Indicators
| MDST | HMSFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.19% | -68.50% | +54.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.74% | -6.98% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.17% | — |
Current DrawdownCurrent decline from peak | -3.86% | -6.48% | +2.62% |
Average DrawdownAverage peak-to-trough decline | -2.20% | -12.36% | +10.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 3.25% | -0.76% |
Volatility
MDST vs. HMSFX - Volatility Comparison
The current volatility for Westwood Salient Enhanced Midstream Income ETF (MDST) is 4.49%, while Hennessy Midstream Fund Investor Class (HMSFX) has a volatility of 5.09%. This indicates that MDST experiences smaller price fluctuations and is considered to be less risky than HMSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDST | HMSFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 5.09% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 8.58% | 11.49% | -2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.37% | 14.86% | -2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 20.11% | -4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.09% | 29.32% | -13.23% |
MDST vs. HMSFX - Expense Ratio Comparison
MDST has a 0.80% expense ratio, which is lower than HMSFX's 1.75% expense ratio.
Dividends
MDST vs. HMSFX - Dividend Comparison
MDST's dividend yield for the trailing twelve months is around 9.36%, more than HMSFX's 8.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HMSFX Hennessy Midstream Fund Investor Class | 8.08% | 8.89% | 8.12% | 10.11% | 11.23% | 12.99% | 15.54% | 9.26% | 4.74% |
MDST Westwood Salient Enhanced Midstream Income ETF | 9.36% | 10.22% | 6.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MDST and HMSFX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMSFX has higher volatility (5.09%) compared to MDST (4.49%). In terms of maximum drawdown, MDST dropped -14.19% vs HMSFX's -68.50%.
MDST currently has the higher Sharpe Ratio (1.49 vs 0.99), 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.
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