TNGY vs. MDST

Last updated Jun 4, 2026

TNGY (Tortoise Energy Fund) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both Energy Equities funds. Both are actively managed. A 0.63 correlation means they provide meaningful diversification when combined. TNGY charges 0.85%/yr vs 0.80%/yr for MDST.

Performance

TNGY vs. MDST - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with TNGY having a 15.21% return and MDST slightly lower at 14.94%.

TNGY

• 1D: 0.39%
• 1M: -3.15%
• YTD: 15.21%
• 6M: 12.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MDST

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

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

TNGY vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025
TNGY Tortoise Energy Fund	15.21%	1.81%
MDST Westwood Salient Enhanced Midstream Income ETF	14.94%	2.93%

Correlation

The correlation between TNGY and MDST is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	0.63

Return for Risk

TNGY vs. MDST — Risk / Return Rank

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

MDST

MDST Risk / Return Rank: 44
MDST Sharpe Ratio Rank: 41
MDST Sortino Ratio Rank: 42
MDST Omega Ratio Rank: 41
MDST Calmar Ratio Rank: 53
MDST Martin Ratio Rank: 45

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.

TNGY vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise Energy Fund (TNGY) 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.

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

Sharpe Ratios by Period

	TNGY	MDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.16	-0.01

Drawdowns

TNGY vs. MDST - Drawdown Comparison

The maximum TNGY drawdown since its inception was -8.86%, smaller than the maximum MDST drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for TNGY and MDST.

Drawdown Indicators

	TNGY	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-8.86%	-14.19%	+5.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.74%	—
Current Drawdown Current decline from peak	-3.92%	-3.53%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.18%	-2.17%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.37%	—

Volatility

Volatility by Period

	TNGY	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	12.12%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	16.11%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	16.11%	-0.41%

TNGY vs. MDST - Expense Ratio Comparison

TNGY has a 0.85% expense ratio, which is higher than MDST's 0.80% expense ratio.

Dividends

TNGY vs. MDST - Dividend Comparison

TNGY's dividend yield for the trailing twelve months is around 3.41%, less than MDST's 9.33% yield.

Position	TTM	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	9.33%	10.22%	6.60%
TNGY Tortoise Energy Fund	3.41%	2.59%	0.00%

Frequently Asked Questions

Can I hold both TNGY and MDST in my portfolio?

TNGY and MDST have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNGY or MDST?

On fees, MDST is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNGY or MDST?

MDST is cheaper with a 0.80% expense ratio, compared with 0.85% for TNGY.

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

MDST has the higher dividend yield at 9.33%, compared with 3.41% for TNGY.

What is the main difference between TNGY and MDST?

They also come from different issuers: Tortoise Capital and Westwood. Their fees differ too: 0.85% for TNGY and 0.80% for MDST.