USNG vs. MDST

Last updated Jun 4, 2026

USNG (Amplify Samsung U.S. Natural Gas Infrastructure ETF) and MDST (Westwood Salient Enhanced Midstream Income ETF) are both Energy Equities funds. Both are actively managed. Over the past year, USNG returned 40.50% vs 17.62% for MDST. A 0.63 correlation means they provide meaningful diversification when combined. USNG charges 0.59%/yr vs 0.80%/yr for MDST.

Performance

USNG vs. MDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) 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, USNG achieves a 31.42% return, which is significantly higher than MDST's 14.94% return.

USNG

• 1D: -0.19%
• 1M: -1.95%
• YTD: 31.42%
• 6M: 28.41%
• 1Y: 40.50%
• 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)

USNG vs. MDST - Yearly Performance Comparison

	2026 (YTD)	2025
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	31.42%	10.81%
MDST Westwood Salient Enhanced Midstream Income ETF	14.94%	4.00%

Correlation

The correlation between USNG and MDST is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since May 21, 2025	0.63

The correlation between USNG and MDST has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.

USNG vs. MDST - Sectors Allocation Comparison

Sectors	USNG	MDST
Energy	78.0%	100.0%
Industrials	13.8%	-
Utilities	5.0%	-
Financial Services	1.8%	-
Basic Materials	1.4%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

USNG vs. MDST — Risk / Return Rank

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

USNG

USNG Risk / Return Rank: 80
USNG Sharpe Ratio Rank: 77
USNG Sortino Ratio Rank: 76
USNG Omega Ratio Rank: 70
USNG Calmar Ratio Rank: 91
USNG Martin Ratio Rank: 89

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.

USNG vs. MDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) 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.

	USNG	MDST	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.47	+1.00
Sortino ratio: Return per unit of downside risk	3.39	2.13	+1.26
Omega ratio: Gain probability vs. loss probability	1.41	1.27	+0.15
Calmar ratio: Return relative to maximum drawdown	5.97	2.63	+3.34
Martin ratio: Return relative to average drawdown	19.70	7.46	+12.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USNG vs. MDST - Sharpe Ratio Comparison

The current USNG Sharpe Ratio is 2.47, which is higher than the MDST Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of USNG 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

	USNG	MDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	1.47	+1.00
Sharpe Ratio (All Time) Calculated using the full available price history	2.66	1.16	+1.50

Drawdowns

USNG vs. MDST - Drawdown Comparison

The maximum USNG drawdown since its inception was -6.82%, smaller than the maximum MDST drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for USNG and MDST.

Drawdown Indicators

	USNG	MDST	Difference
Max Drawdown Largest peak-to-trough decline	-6.82%	-14.19%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-6.74%	-0.08%
Current Drawdown Current decline from peak	-4.10%	-3.53%	-0.57%
Average Drawdown Average peak-to-trough decline	-1.40%	-2.17%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.37%	-0.30%

Volatility

USNG vs. MDST - Volatility Comparison

Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) has a higher volatility of 6.40% compared to Westwood Salient Enhanced Midstream Income ETF (MDST) at 4.87%. This indicates that USNG'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

	USNG	MDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	4.87%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	8.36%	+4.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	12.12%	+4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.55%	16.11%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	16.11%	+0.44%

USNG vs. MDST - Expense Ratio Comparison

USNG has a 0.59% expense ratio, which is lower than MDST's 0.80% expense ratio.

Dividends

USNG vs. MDST - Dividend Comparison

USNG's dividend yield for the trailing twelve months is around 1.13%, less than MDST's 9.33% yield.

Position	TTM	2025	2024
MDST Westwood Salient Enhanced Midstream Income ETF	9.33%	10.22%	6.60%
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF	1.13%	1.10%	0.00%

Frequently Asked Questions

Can I hold both USNG and MDST in my portfolio?

USNG and MDST have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USNG or MDST?

USNG has higher volatility (6.40%) compared to MDST (4.87%). In terms of maximum drawdown, USNG dropped -6.82% vs MDST's -14.19%.

Which ETF is better, USNG or MDST?

On 1-year performance, USNG leads with 40.50% vs 17.62% for MDST. On fees, USNG is cheaper at 0.59% 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, USNG or MDST?

Over the 1-year period, USNG has performed better with a 40.50% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USNG or MDST?

USNG is cheaper with a 0.59% expense ratio, compared with 0.80% for MDST.

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

MDST has the higher dividend yield at 9.33%, compared with 1.13% for USNG.

What is the main difference between USNG and MDST?

They also come from different issuers: Amplify and Westwood. Their fees differ too: 0.59% for USNG and 0.80% for MDST.

Which has better risk-adjusted returns?

USNG currently has the higher Sharpe Ratio (2.47 vs 1.47), 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.