MDST
Westwood Salient Enhanced Mid Inc ETF
The Westwood Salient Enhanced Midstream Income ETF seeks to provide attractive risk-adjusted total return with a focus on generating income by investing primarily in U.S. midstream energy companies.
Global
EQUITY
Active
MANAGEMENT STYLE
$ 287.2 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Inception date | Apr 08, 2024 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ENERGY TRANSFER, L.P. | 9.3 % |
| ENBRIDGE INC | 8.3 % |
| WILLIAMS COS INC | 8.2 % |
| ENTERPRISE PRODUCTS PARTNERS | 7.1 % |
| CHENIERE ENERGY INC | 5.7 % |
| KINDER MORGAN INC | 5.7 % |
| DT MIDSTREAM, INC. | 5.5 % |
| TARGA RESOURCES CORP | 5.1 % |
| ONEOK INC | 4.9 % |
| TRANSCANADA CORP | 4.9 % |
Constituent Breakdown
| Number of holdings | 128 |
| Herfindahl-Hirschman Index | 568 |
| Wgt avg mkt cap (mns) | $49,924 |
| Large cap (>$10bn) | 72.3% |
| Mid cap ($2-10bn) | 18.4% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 91.5% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 70.6 % |
 |
CANADA | 20.9 % |
Historical Performance
Standardized Performance (as of 10/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 11.4% | 16.0% | 6.5% | -- | -- | -- | -- | 6.7% |
| Dividend Yield | 10.1% | 11.6% | 10.9% | -- | -- | -- | -- | 11.3% |
| Total Returns | 21.5% | 27.6% | 17.4% | -- | -- | -- | -- | 17.9% | Ann. Volatility | 13.6% | 13.4% | 16.7% | -- | -- | -- | -- | 16.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | -0.09 | 1% |
| MSCI EAFE | -0.11 | 2% |
| MSCI Emg Mkts | -0.08 | 2% |
Liquidity Measures
| Avg. volume (000) | 66 |
| ADV traded (mns) | $2 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.21% |
Technical Indicators
| 30d moving avg. (EMA) | $28.33 |
| Relative strength (RSI) | 44 |
| MACD/Signal | -0.19/0.01 |
| Bollinger Bands (Upper/Lower) | $29.83/$27.05 |
| Short interest (% of AUM) | 0.0% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MDST |
Expenses vs. MDST |
ALTAR Score™ vs. MDST |
|---|---|---|---|---|
| UMI | USCF Midstream Energy Income Fund ETF | 79.3% | +5 bp | +0.4% |
| ENFR | Alerian Energy Infrastructure ETF | 77.7% | -45 bp | +0.9% |
| PIPE | Invesco SteelPath MLP & Energy Infrastructure ETF | 66.8% | -5 bp | -0.1% |
| MLPI | NEOS MLP & Engy Infras Hi Inc ETF | 63.7% | -12 bp | -0.9% |
| USAI | Pacer American Energy Independence ETF | 63.1% | -5 bp | -0.2% |
| MLPX | Global X MLP & Energy Infrastructure ETF | 52.8% | -35 bp | +0.4% |
| EINC | VanEck Energy Income ETF | 52.1% | -34 bp | +0.6% |
| TPYP | Tortoise North American Pipeline Fund | 50.9% | -40 bp | +0.6% |
| USNG | Amplify Samsung U.S. Natural Gas Infrastructure ETF | 49.7% | -21 bp | +0.3% |
| NBCT | Neuberger Berman Carbon Transition Infrastructure ETF | 48.0% | -25 bp | +1.5% |
Risk and Returns: MDST vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/11/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
4.6%
ALTAR SCORE™
48th
PERCENTILE
NEUTRAL
ETFRC RATING
There are 764 funds in the Global Equity category with an average
ALTAR Score™ of 4.7% and a standard deviation
of 2.6%. MDST's ALTAR Score™ is approximately -0.1 standard
deviations above the category average. This places MDST in the 48th percentile
among funds in the category.
Sell-Side Consensus
$31.45
PRICE TARGET
+13.0%
UPSIDE