MDSTvsPIPEETF Comparison
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Westwood Salient Enhanced Midstream Income ETF (MDST) belongs to the Options Strategies segment. Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is part of the Infrastructure segment. Both ETFs have the same top 1 sector exposures: Energy. MDST is more expensive with a Total Expense Ratio (TER) of 0.8%, versus 0.75% for PIPE. MDST is up 20.27% year-to-date (YTD) with +$102M in YTD flows. PIPE performs better with 30.54% YTD performance, and +$2M in YTD flows. Run a side-by-side ETF comparison of MDST and PIPE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MDST vs PIPE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MDST PIPE | +1.87%+2.37% | +3.60%+2.45% | +20.27%+30.54% | +21.99%+32.76% | n/an/a | n/an/a |
| Flows | MDST PIPE | +$9M- | +$32M+$598K | +$102M+$2M | +$145M+$2M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MDST PIPE | +14.23%+17.55% | +12.55%+15.69% | n/an/a | n/an/a |
| Max drawdown | MDST PIPE | -4.08%-5.51% | -5.89%-7.30% | n/an/a | n/an/a |
| Max drawdown duration | MDST PIPE | 25d25d | 66d109d | n/an/a | n/an/a |
Trading data
MDST | PIPE | |
Last sale 9/11/2026 at 1:30 PM | $29.50 | $30.68 |
| Previous close 09/10/2026 | $29.54 | $30.76 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
MDST | PIPE | |
|---|---|---|
| Last price | $29.50 | $30.68 |
| 1D performance | -0.14% | -0.26% |
| AuM | $299.02 M | $66.71 M |
| E/R | 0.8% | 0.75% |
Exposure
Countries
MDST
USA
77.71%
Canada
21.18%
Other
1.12%
PIPE
USA
72.38%
Canada
27.62%
Sectors
MDST
Energy
98.88%
Other
1.12%
PIPE
Energy
100%
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Diversification
MDST
Total weight of top 15 holdings out of 15
86.33%
PIPE
Total weight of top 15 holdings out of 15
75.51%
Top 15 holdings
Data as of July 31, 2026
MDST
Energy Transfer LP
9.14%
Enbridge, Inc.
8.72%
The Williams Cos., Inc.
8.15%
Enterprise Products Partners LP
6.82%
DT Midstream, Inc.
6.05%
Kinder Morgan, Inc.
5.58%
Cheniere Energy, Inc.
4.88%
TC Energy Corp.
4.79%
ONEOK, Inc.
4.77%
Plains GP Holdings LP
4.75%
Targa Resources Corp.
4.66%
MPLX LP
4.63%
South Bow Corp.
4.60%
Antero Midstream Corp.
4.49%
Hess Midstream LP
4.30%
PIPE
Targa Resources Corp.
7.87%
Plains GP Holdings LP
6.44%
The Williams Cos., Inc.
6.08%
TC Energy Corp.
6.05%
Pembina Pipeline Corp.
5.05%
Keyera Corp.
4.88%
ONEOK, Inc.
4.88%
Cheniere Energy, Inc.
4.58%
Enbridge, Inc.
4.52%
Energy Transfer LP
4.51%
Kinder Morgan, Inc.
4.47%
Enterprise Products Partners LP
4.32%
MPLX LP
3.98%
Kodiak Gas Services, Inc.
3.97%
South Bow Corp.
3.90%
Frequently asked questions about MDST and PIPE
How have the MDST and PIPE ETFs performed in 2026?
As of September 10, 2026, MDST is up 20.27% year-to-date (YTD), while PIPE has returned 30.54%. That puts PIPE better performer ahead so far this year.
Which ETF is attracting more investor money: MDST or PIPE?
Year-to-date, the MDST ETF saw +$102M in flows, compared to +$2M for PIPE.
Which ETF is more volatile: MDST or PIPE?
Over the past year, MDST had a volatility of 12.55%, while PIPE experienced 15.69%.
Which ETF is bigger: MDST or PIPE?
As of September 10, 2026, MDST holds $299.02 M in assets under management (AUM), while PIPE manages $66.71 M.
What sectors do the MDST and PIPE ETFs invest in?
MDST leans toward sectors like Energy. Meanwhile, PIPE focuses on Energy.
What are the top holdings of the MDST ETF and PIPE ETF?
MDST top holdings include Energy Transfer LP, Enbridge, Inc. and The Williams Cos., Inc.. PIPE holds in its top three: Targa Resources Corp., Plains GP Holdings LP and The Williams Cos., Inc..
Which ETF is more diversified: MDST or PIPE?
MDST holds 24 securities with 86.33% of its assets in the top 15. PIPE has 25 securities and a top 15 weight of 75.51%.
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Latest news about MDST & PIPE
Westwood Launches BFRE ETF: A New Approach to Global Equity Investing
March 27, 2025
MDST
Notable ETF Filings and Launches Recap: February 2025
March 4, 2025
PIPE
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