SLNZ vs. MDST

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Senior Loan ETF (SLNZ) and Westwood Salient Enhanced Midstream Income ETF (MDST).

SLNZ and MDST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLNZ is an actively managed fund by TCW. It was launched on Jun 28, 2013. MDST is an actively managed fund by Westwood. It was launched on Apr 8, 2024.

Performance

SLNZ vs. MDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Senior Loan ETF (SLNZ) and Westwood Salient Enhanced Midstream Income ETF (MDST). The values are adjusted to include any dividend payments, if applicable.

SLNZ vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLNZ TCW Senior Loan ETF	-0.97%	5.21%	0.87%
MDST Westwood Salient Enhanced Midstream Income ETF	11.80%	7.09%	-0.43%

Returns By Period

In the year-to-date period, SLNZ achieves a -0.97% return, which is significantly lower than MDST's 11.80% return.

SLNZ

• 1D: 0.32%
• 1M: 0.51%
• YTD: -0.97%
• 6M: 0.18%
• 1Y: 3.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDST

• 1D: -1.07%
• 1M: 1.13%
• YTD: 11.80%
• 6M: 12.54%
• 1Y: 13.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLNZ vs. MDST - Expense Ratio Comparison

SLNZ has a 0.65% expense ratio, which is lower than MDST's 0.80% expense ratio.

MDST

Westwood Salient Enhanced Midstream Income ETF

SLNZ

TCW Senior Loan ETF

Return for Risk

SLNZ vs. MDST — Risk / Return Rank

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

SLNZ

SLNZ Risk / Return Rank: 35
SLNZ Sharpe Ratio Rank: 35
SLNZ Sortino Ratio Rank: 31
SLNZ Omega Ratio Rank: 31
SLNZ Calmar Ratio Rank: 43
SLNZ Martin Ratio Rank: 37

MDST

MDST Risk / Return Rank: 42
MDST Sharpe Ratio Rank: 43
MDST Sortino Ratio Rank: 37
MDST Omega Ratio Rank: 49
MDST Calmar Ratio Rank: 39
MDST Martin Ratio Rank: 40

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.

SLNZ vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Senior Loan ETF (SLNZ) and Westwood Salient Enhanced Midstream Income ETF (MDST). 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.

	SLNZ	MDST	Difference
Sharpe ratio Return per unit of total volatility	0.68	0.79	-0.11
Sortino ratio Return per unit of downside risk	0.94	1.07	-0.12
Omega ratio Gain probability vs. loss probability	1.13	1.19	-0.05
Calmar ratio Return relative to maximum drawdown	1.17	0.97	+0.20
Martin ratio Return relative to average drawdown	3.48	3.74	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLNZ vs. MDST - Sharpe Ratio Comparison

The current SLNZ Sharpe Ratio is 0.68, which is comparable to the MDST Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of SLNZ and MDST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SLNZ	MDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	0.79	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.16	-0.29

Correlation

The correlation between SLNZ and MDST is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SLNZ vs. MDST - Dividend Comparison

SLNZ's dividend yield for the trailing twelve months is around 7.66%, less than MDST's 9.44% yield.

	TTM	2025	2024
SLNZ TCW Senior Loan ETF	7.66%	7.39%	1.39%
MDST Westwood Salient Enhanced Midstream Income ETF	9.44%	10.22%	6.60%

Drawdowns

SLNZ vs. MDST - Drawdown Comparison

The maximum SLNZ drawdown since its inception was -2.57%, smaller than the maximum MDST drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for SLNZ and MDST.

Drawdown Indicators

	SLNZ	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-2.57%	-14.19%	+11.62%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	-14.19%	+11.62%
Current Drawdown Current decline from peak	-1.73%	-1.84%	+0.11%
Average Drawdown Average peak-to-trough decline	-0.46%	-2.18%	+1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	3.68%	-2.82%

Volatility

SLNZ vs. MDST - Volatility Comparison

The current volatility for TCW Senior Loan ETF (SLNZ) is 1.97%, while Westwood Salient Enhanced Midstream Income ETF (MDST) has a volatility of 2.15%. This indicates that SLNZ experiences smaller price fluctuations and is considered to be less risky than MDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLNZ	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	2.15%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	7.62%	-3.80%
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	17.38%	-12.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.32%	16.23%	-11.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	16.23%	-11.91%