MDST vs. MLPX

Last updated Jun 23, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both exchange-traded funds - MDST is a Energy Equities fund actively managed by Westwood, while MLPX is a MLPs fund tracking the Solactive MLP & Energy Infrastructure Index. MDST is actively managed, while MLPX is passively managed. Over the past year, MDST returned 18.36% vs 23.19% for MLPX. Their correlation of 0.85 suggests significant overlap in exposure. MDST charges 0.80%/yr vs 0.45%/yr for MLPX.

Performance

MDST vs. MLPX - Performance Comparison

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

Returns By Period

In the year-to-date period, MDST achieves a 14.54% return, which is significantly lower than MLPX's 23.27% return.

MDST

• 1D: 0.98%
• 1M: -3.58%
• YTD: 14.54%
• 6M: 16.10%
• 1Y: 18.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPX

• 1D: 1.07%
• 1M: -5.57%
• YTD: 23.27%
• 6M: 24.71%
• 1Y: 23.19%
• 3Y*: 28.84%
• 5Y*: 20.93%
• 10Y*: 12.27%

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

MDST vs. MLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	14.54%	7.09%	17.03%
MLPX Global X MLP & Energy Infrastructure ETF	23.27%	4.96%	28.29%

Correlation

The correlation between MDST and MLPX is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024	0.85

The correlation between MDST and MLPX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

MDST vs. MLPX - Sectors Allocation Comparison

Sectors	MDST	MLPX
Energy	100.0%	99.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	0.3%

Return for Risk

MDST vs. MLPX — Risk / Return Rank

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

MDST

MDST Risk / Return Rank: 46
MDST Sharpe Ratio Rank: 44
MDST Sortino Ratio Rank: 44
MDST Omega Ratio Rank: 42
MDST Calmar Ratio Rank: 57
MDST Martin Ratio Rank: 46

MLPX

MLPX Risk / Return Rank: 46
MLPX Sharpe Ratio Rank: 45
MLPX Sortino Ratio Rank: 43
MLPX Omega Ratio Rank: 40
MLPX Calmar Ratio Rank: 59
MLPX Martin Ratio Rank: 44

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. MLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Midstream Income ETF (MDST) and Global X MLP & Energy Infrastructure ETF (MLPX). 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	MLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.52	-0.02
Sortino ratio: Return per unit of downside risk	2.15	2.13	+0.02
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	2.74	2.85	-0.11
Martin ratio: Return relative to average drawdown	7.40	6.87	+0.54

MDST vs. MLPX - Sharpe Ratio Comparison

The current MDST Sharpe Ratio is 1.49, which is comparable to the MLPX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of MDST and MLPX, 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. MLPX - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, smaller than the maximum MLPX drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for MDST and MLPX.

Drawdown Indicators

	MDST	MLPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-70.67%	+56.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.74%	-8.18%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.70%	—
Current Drawdown Current decline from peak	-3.86%	-5.93%	+2.07%
Average Drawdown Average peak-to-trough decline	-2.20%	-16.59%	+14.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	3.39%	-0.90%

Volatility

MDST vs. MLPX - Volatility Comparison

The current volatility for Westwood Salient Enhanced Midstream Income ETF (MDST) is 4.49%, while Global X MLP & Energy Infrastructure ETF (MLPX) has a volatility of 5.48%. This indicates that MDST experiences smaller price fluctuations and is considered to be less risky than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDST	MLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	5.48%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	11.71%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	15.38%	-3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.09%	19.98%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.09%	26.49%	-10.40%

MDST vs. MLPX - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is higher than MLPX's 0.45% expense ratio.

Dividends

MDST vs. MLPX - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.36%, more than MLPX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
MLPX Global X MLP & Energy Infrastructure ETF	4.16%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both MDST and MLPX in my portfolio?

MDST and MLPX have a correlation of 0.83, 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 MLPX?

MLPX has higher volatility (5.48%) compared to MDST (4.49%). In terms of maximum drawdown, MDST dropped -14.19% vs MLPX's -70.67%.

Which ETF is better, MDST or MLPX?

On 1-year performance, MLPX leads with 23.19% vs 18.36% for MDST. On fees, MLPX is cheaper at 0.45% per year. On volatility, MDST has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDST or MLPX?

Over the 1-year period, MLPX has performed better with a 23.19% return vs 18.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDST or MLPX?

MLPX is cheaper with a 0.45% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.36%, compared with 4.16% for MLPX.

What is the main difference between MDST and MLPX?

MDST is categorized as Energy Equities, while MLPX is MLPs. They also come from different issuers: Westwood and Global X. Their fees differ too: 0.80% for MDST and 0.45% for MLPX.

Which has better risk-adjusted returns?

MLPX currently has the higher Sharpe Ratio (1.52 vs 1.49), 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.