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MDST vs. IEZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDST vs. IEZ

Last updated Jun 4, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and IEZ (iShares U.S. Oil Equipment & Services ETF) are both Energy Equities funds. MDST is actively managed, while IEZ is passively managed. Over the past year, MDST returned 17.62% vs 85.10% for IEZ. At a 0.49 correlation, their price movements are largely independent. MDST charges 0.80%/yr vs 0.42%/yr for IEZ.

Performance

MDST vs. IEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Salient Enhanced Midstream Income ETF (MDST) and iShares U.S. Oil Equipment & Services ETF (IEZ). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MDST achieves a 14.94% return, which is significantly lower than IEZ's 47.84% return.

MDST

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

IEZ

1D
0.03%
1M
-3.54%
YTD
47.84%
6M
42.02%
1Y
85.10%
3Y*
19.17%
5Y*
13.91%
10Y*
-0.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDST vs. IEZ - Yearly Performance Comparison

2026 (YTD)20252024
MDST
Westwood Salient Enhanced Midstream Income ETF		14.94%7.09%17.29%
IEZ
iShares U.S. Oil Equipment & Services ETF		47.84%7.51%-17.28%

Correlation

The correlation between MDST and IEZ is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (All Time)
Calculated using the full available price history since Apr 10, 2024

0.49

The correlation between MDST and IEZ shifts across timeframes, from 0.36 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

MDST vs. IEZ - Sectors Allocation Comparison

Sectors
MDST
IEZ

Energy

100.0%
98.8%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.6%

Real Estate

-

-

Technology

-

-

Utilities

-

1.0%

Energy

MDST
100.0%
IEZ
98.8%

Basic Materials

MDST

-

IEZ

-

Communication Services

MDST

-

IEZ

-

Consumer Cyclical

MDST

-

IEZ

-

Consumer Defensive

MDST

-

IEZ

-

Financial Services

MDST

-

IEZ

-

Healthcare

MDST

-

IEZ

-

Industrials

MDST

-

IEZ
0.6%

Real Estate

MDST

-

IEZ

-

Technology

MDST

-

IEZ

-

Utilities

MDST

-

IEZ
1.0%

Compare stocks, funds, or ETFs

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Westwood Salient Enhanced Midstream Income ETF

iShares U.S. Oil Equipment & Services ETF

Often compared with MDST:
MDST vs. MLPIMDST vs. WEEIMDST vs. AMZAMDST vs. SLNZMDST vs. HMSFXMDST vs. ICAPMDST vs. WTPI
Often compared with IEZ:
IEZ vs. XESIEZ vs. XOPIEZ vs. FCGIEZ vs. EZUIEZ vs. IEOIEZ vs. IBBQIEZ vs. USO

Return for Risk

MDST vs. IEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MDST
MDST Risk / Return Rank: 4444
Overall Rank
MDST Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
MDST Sortino Ratio Rank: 4242
Sortino Ratio Rank
MDST Omega Ratio Rank: 4141
Omega Ratio Rank
MDST Calmar Ratio Rank: 5353
Calmar Ratio Rank
MDST Martin Ratio Rank: 4545
Martin Ratio Rank
IEZ
IEZ Risk / Return Rank: 8787
Overall Rank
IEZ Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IEZ Sortino Ratio Rank: 8282
Sortino Ratio Rank
IEZ Omega Ratio Rank: 7777
Omega Ratio Rank
IEZ Calmar Ratio Rank: 9595
Calmar Ratio Rank
IEZ Martin Ratio Rank: 9292
Martin Ratio Rank
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. IEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Midstream Income ETF (MDST) and iShares U.S. Oil Equipment & Services ETF (IEZ). 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.

MDSTIEZDifference
Sharpe ratioReturn per unit of total volatility
1.47
3.00

-1.54

Sortino ratioReturn per unit of downside risk
2.13
3.71

-1.58

Omega ratioGain probability vs. loss probability

1.27

1.46

-0.20

Calmar ratioReturn relative to maximum drawdown

2.63

8.29

-5.66

Martin ratioReturn relative to average drawdown

7.46

22.60

-15.14

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. IEZ - Sharpe Ratio Comparison

The current MDST Sharpe Ratio is 1.47, which is lower than the IEZ Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of MDST and IEZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MDSTIEZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.47

3.00

-1.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.38

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

-0.00

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.16

-0.04

+1.20

Drawdowns

MDST vs. IEZ - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, smaller than the maximum IEZ drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for MDST and IEZ.

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Drawdown Indicators

MDSTIEZDifference

Max Drawdown

Largest peak-to-trough decline

-14.19%

-92.52%

+78.33%

Max Drawdown (1Y)

Largest decline over 1 year

-6.74%

-10.32%

+3.58%

Max Drawdown (3Y)

Largest decline over 3 years

—

-40.25%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-40.25%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-88.29%

—

Current Drawdown

Current decline from peak

-3.53%

-51.21%

+47.68%

Average Drawdown

Average peak-to-trough decline

-2.17%

-48.26%

+46.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.37%

3.78%

-1.41%

Volatility

MDST vs. IEZ - Volatility Comparison

The current volatility for Westwood Salient Enhanced Midstream Income ETF (MDST) is 4.87%, while iShares U.S. Oil Equipment & Services ETF (IEZ) has a volatility of 7.95%. This indicates that MDST experiences smaller price fluctuations and is considered to be less risky than IEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MDSTIEZDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.87%

7.95%

-3.08%

Volatility (6M)

Calculated over the trailing 6-month period

8.36%

20.11%

-11.75%

Volatility (1Y)

Calculated over the trailing 1-year period

12.12%

28.62%

-16.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

36.35%

-20.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.11%

41.56%

-25.45%

MDST vs. IEZ - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is higher than IEZ's 0.42% expense ratio.

Dividends

MDST vs. IEZ - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.33%, more than IEZ's 1.18% yield.

PositionTTM20252024202320222021202020192018201720162015
IEZ
iShares U.S. Oil Equipment & Services ETF		1.18%1.87%1.76%0.97%0.65%1.20%2.07%2.28%1.81%3.42%0.91%2.40%
MDST
Westwood Salient Enhanced Midstream Income ETF		9.33%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

MDST and IEZ have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEZ has higher volatility (7.95%) compared to MDST (4.87%). In terms of maximum drawdown, MDST dropped -14.19% vs IEZ's -92.52%.

On 1-year performance, IEZ leads with 85.10% vs 17.62% for MDST. On fees, IEZ is cheaper at 0.42% 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.

Over the 1-year period, IEZ has performed better with a 85.10% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEZ is cheaper with a 0.42% expense ratio, compared with 0.80% for MDST.

MDST has the higher dividend yield at 9.33%, compared with 1.18% for IEZ.

They also come from different issuers: Westwood and iShares. Their fees differ too: 0.80% for MDST and 0.42% for IEZ.

IEZ currently has the higher Sharpe Ratio (3.00 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.

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