MDST vs. SRV

Last updated Jun 5, 2026

MDST (Westwood Salient Enhanced Midstream Income ETF) and SRV (NXG Cushing® Midstream Energy Fund) are both funds - MDST is a Energy Equities fund actively managed by Westwood, while SRV is a Global Equity Income fund actively managed by NXG. Both are actively managed. Over the past year, MDST returned 20.41% vs 43.20% for SRV. At a 0.42 correlation, their price movements are largely independent. MDST charges 0.80%/yr vs 1.00%/yr for SRV.

Performance

MDST vs. SRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Salient Enhanced Midstream Income ETF (MDST) and NXG Cushing® Midstream Energy Fund (SRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDST achieves a 16.23% return, which is significantly lower than SRV's 33.57% return.

MDST

• 1D: 1.12%
• 1M: 0.68%
• YTD: 16.23%
• 6M: 15.14%
• 1Y: 20.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SRV

• 1D: 1.25%
• 1M: -1.50%
• YTD: 33.57%
• 6M: 36.40%
• 1Y: 43.20%
• 3Y*: 31.00%
• 5Y*: 26.47%
• 10Y*: 11.79%

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

MDST vs. SRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	16.23%	7.09%	17.29%
SRV NXG Cushing® Midstream Energy Fund	33.57%	5.05%	9.68%

Correlation

The correlation between MDST and SRV is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	0.42

Return for Risk

MDST vs. SRV — Risk / Return Rank

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

MDST

MDST Risk / Return Rank: 53
MDST Sharpe Ratio Rank: 50
MDST Sortino Ratio Rank: 51
MDST Omega Ratio Rank: 50
MDST Calmar Ratio Rank: 62
MDST Martin Ratio Rank: 52

SRV

SRV Risk / Return Rank: 57
SRV Sharpe Ratio Rank: 61
SRV Sortino Ratio Rank: 48
SRV Omega Ratio Rank: 54
SRV Calmar Ratio Rank: 73
SRV Martin Ratio Rank: 46

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. SRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Midstream Income ETF (MDST) and NXG Cushing® Midstream Energy Fund (SRV). 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	SRV	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.32	-0.61
Sortino ratio: Return per unit of downside risk	2.45	2.91	-0.46
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.10
Calmar ratio: Return relative to maximum drawdown	3.04	3.30	-0.26
Martin ratio: Return relative to average drawdown	8.62	9.63	-1.00
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. SRV - Sharpe Ratio Comparison

The current MDST Sharpe Ratio is 1.70, which is comparable to the SRV Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of MDST and SRV, 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	SRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.32	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	-0.01	+1.21

Drawdowns

MDST vs. SRV - Drawdown Comparison

The maximum MDST drawdown since its inception was -14.19%, smaller than the maximum SRV drawdown of -92.93%. Use the drawdown chart below to compare losses from any high point for MDST and SRV.

Drawdown Indicators

	MDST	SRV	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-92.93%	+78.74%
Max Drawdown (1Y) Largest decline over 1 year	-6.74%	-13.13%	+6.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.70%	—
Current Drawdown Current decline from peak	-2.45%	-6.35%	+3.90%
Average Drawdown Average peak-to-trough decline	-2.17%	-48.50%	+46.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	4.50%	-2.13%

Volatility

MDST vs. SRV - Volatility Comparison

The current volatility for Westwood Salient Enhanced Midstream Income ETF (MDST) is 4.99%, while NXG Cushing® Midstream Energy Fund (SRV) has a volatility of 7.45%. This indicates that MDST experiences smaller price fluctuations and is considered to be less risky than SRV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDST	SRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	7.45%	-2.46%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	15.12%	-6.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	18.74%	-6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	26.44%	-10.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.12%	38.28%	-22.16%

MDST vs. SRV - Expense Ratio Comparison

MDST has a 0.80% expense ratio, which is lower than SRV's 1.00% expense ratio.

Dividends

MDST vs. SRV - Dividend Comparison

MDST's dividend yield for the trailing twelve months is around 9.22%, less than SRV's 15.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDST Westwood Salient Enhanced Midstream Income ETF	9.22%	10.22%	6.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SRV NXG Cushing® Midstream Energy Fund	15.20%	19.31%	12.85%	15.56%	8.85%	4.72%	12.05%	10.59%	12.73%	9.07%	7.95%	11.01%

Frequently Asked Questions

Can I hold both MDST and SRV in my portfolio?

MDST and SRV have a correlation of 0.41, 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 SRV?

SRV has higher volatility (7.45%) compared to MDST (4.99%). In terms of maximum drawdown, MDST dropped -14.19% vs SRV's -92.93%.

Which has better risk-adjusted returns?

SRV currently has the higher Sharpe Ratio (2.32 vs 1.70), 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.