USAI vs. MDST

Last updated Jun 4, 2026

USAI (Pacer American Energy Independence ETF) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both Energy Equities funds. USAI is passively managed, while MDST is actively managed. Over the past year, USAI returned 19.24% vs 17.62% for MDST. Their correlation of 0.85 suggests significant overlap in exposure. USAI charges 0.75%/yr vs 0.80%/yr for MDST.

Performance

USAI vs. MDST - Performance Comparison

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

Returns By Period

In the year-to-date period, USAI achieves a 22.18% return, which is significantly higher than MDST's 14.94% return.

USAI

• 1D: 0.05%
• 1M: -3.14%
• YTD: 22.18%
• 6M: 21.52%
• 1Y: 19.24%
• 3Y*: 25.97%
• 5Y*: 18.33%
• 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)

USAI vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USAI Pacer American Energy Independence ETF	22.18%	0.69%	29.70%
MDST Westwood Salient Enhanced Midstream Income ETF	14.94%	7.09%	17.29%

Correlation

The correlation between USAI and MDST 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 10, 2024	0.85

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

USAI vs. MDST - Sectors Allocation Comparison

Sectors	USAI	MDST
Energy	97.8%	100.0%
Utilities	2.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

USAI vs. MDST — Risk / Return Rank

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

USAI

USAI Risk / Return Rank: 34
USAI Sharpe Ratio Rank: 33
USAI Sortino Ratio Rank: 32
USAI Omega Ratio Rank: 31
USAI Calmar Ratio Rank: 44
USAI Martin Ratio Rank: 32

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.

USAI vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer American Energy Independence ETF (USAI) 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.

	USAI	MDST	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.47	-0.24
Sortino ratio: Return per unit of downside risk	1.72	2.13	-0.41
Omega ratio: Gain probability vs. loss probability	1.21	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	2.15	2.63	-0.48
Martin ratio: Return relative to average drawdown	4.85	7.46	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAI vs. MDST - Sharpe Ratio Comparison

The current USAI Sharpe Ratio is 1.23, which is comparable to the MDST Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of USAI and MDST, 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

	USAI	MDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.47	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.16	-0.66

Drawdowns

USAI vs. MDST - Drawdown Comparison

The maximum USAI drawdown since its inception was -65.25%, which is greater than MDST's maximum drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for USAI and MDST.

Drawdown Indicators

	USAI	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-65.25%	-14.19%	-51.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-6.74%	-2.27%
Max Drawdown (3Y) Largest decline over 3 years	-18.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.68%	—	—
Current Drawdown Current decline from peak	-5.98%	-3.53%	-2.45%
Average Drawdown Average peak-to-trough decline	-9.36%	-2.17%	-7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	2.37%	+1.61%

Volatility

USAI vs. MDST - Volatility Comparison

Pacer American Energy Independence ETF (USAI) has a higher volatility of 6.52% compared to Westwood Salient Enhanced Midstream Income ETF (MDST) at 4.87%. This indicates that USAI's price experiences larger fluctuations and is considered to be riskier than MDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAI	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	4.87%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	8.36%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	12.12%	+3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.56%	16.11%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.31%	16.11%	+11.20%

USAI vs. MDST - Expense Ratio Comparison

USAI has a 0.75% expense ratio, which is lower than MDST's 0.80% expense ratio.

Dividends

USAI vs. MDST - Dividend Comparison

USAI's dividend yield for the trailing twelve months is around 4.19%, less than MDST's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDST Westwood Salient Enhanced Midstream Income ETF	9.33%	10.22%	6.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USAI Pacer American Energy Independence ETF	4.19%	5.03%	3.62%	4.99%	5.41%	6.15%	7.67%	6.50%	5.56%	0.08%

Frequently Asked Questions

Can I hold both USAI and MDST in my portfolio?

USAI and MDST 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, USAI or MDST?

USAI has higher volatility (6.52%) compared to MDST (4.87%). In terms of maximum drawdown, USAI dropped -65.25% vs MDST's -14.19%.

Which ETF is better, USAI or MDST?

On 1-year performance, USAI leads with 19.24% vs 17.62% for MDST. On fees, USAI is cheaper at 0.75% per year. On volatility, MDST has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USAI or MDST?

Over the 1-year period, USAI has performed better with a 19.24% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USAI or MDST?

USAI is cheaper with a 0.75% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.33%, compared with 4.19% for USAI.

What is the main difference between USAI and MDST?

They also come from different issuers: Pacer and Westwood. Their fees differ too: 0.75% for USAI and 0.80% for MDST.

Which has better risk-adjusted returns?

MDST currently has the higher Sharpe Ratio (1.47 vs 1.23), 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.