MDST vs. RAYS

Last updated Aug 2, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - MDST is a Energy Equities fund actively managed by Westwood, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. MDST is actively managed, while RAYS is passively managed. MDST charges 0.80%/yr vs 0.50%/yr for RAYS.

Performance

MDST vs. RAYS - 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 Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MDST

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

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
MDST Westwood Salient Enhanced Midstream Income ETF	$1.68M	$1.58M	$1.75M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

MDST vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
MDST Westwood Salient Enhanced Midstream Income ETF	11.23%
RAYS Global X Solar ETF	0.00%

MDST vs. RAYS - Sectors Allocation Comparison

Sectors	MDST	RAYS
Energy	98.5%	-
Industrials	0.8%	21.4%
Basic Materials	-	0.9%
Communication Services	-	-
Consumer Cyclical	-	4.0%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	66.9%
Utilities	-	6.8%

Return for Risk

MDST vs. RAYS — 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

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. RAYS - 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 Solar ETF (RAYS). 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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.44	—	—
Sortino ratio: Return per unit of downside risk	2.06	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.95	—	—
Martin ratio: Return relative to average drawdown	8.30	—	—

Drawdowns

MDST vs. RAYS - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MDST and RAYS.

Drawdown Indicators

	MDST	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	0.00%	-14.19%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	—	—
Current Drawdown Current decline from peak	-1.87%	0.00%	-1.87%
Average Drawdown Average peak-to-trough decline	-2.17%	0.00%	-2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	—	—

Volatility

Volatility by Period

	MDST	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	0.00%	+12.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	0.00%	+16.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.04%	0.00%	+16.04%

MDST vs. RAYS - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

MDST vs. RAYS - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.20%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	9.20%	10.22%	6.60%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MDST or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MDST or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.20%, compared with 0.00% for RAYS.

What is the main difference between MDST and RAYS?

MDST is categorized as Energy Equities, while RAYS is Alternative Energy Equities. They also come from different issuers: Westwood and Global X. Their fees differ too: 0.80% for MDST and 0.50% for RAYS.