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MDSTvsTPYPETF Comparison

ETF 1
MDST

Westwood Salient Enhanced Midstream Income ETF

This fund is part of
Options Strategies
-0.04%
Full MDST fund page
VS
ETF 2
TPYP

Tortoise North American Pipeline Fund ETF - USD

This fund is part of
Infrastructure
+0.23%
Full TPYP fund page

Westwood Salient Enhanced Midstream Income ETF (MDST) belongs to the Options Strategies segment. Tortoise North American Pipeline Fund ETF - USD (TPYP) is part of the Infrastructure segment. Both ETFs have the same top 3 sector exposures: and Energy. MDST is more expensive with a Total Expense Ratio (TER) of 0.8%, versus 0.4% for TPYP. MDST is up 11.04% year-to-date (YTD) with +$29M in YTD flows. TPYP performs better with 18.63% YTD performance, and +$13M in YTD flows. Run a side-by-side ETF comparison of MDST and TPYP 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 TPYP performance and flow charts

Performance

0.02.04.06.08.0%Feb 10Feb 18Feb 25Mar 4Mar 11

Cumulative Flows

0 M5 M10 M15 MFeb 10Feb 18Feb 25Mar 4Mar 11

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Historic performance and flows
Data as of 03/10/2026
1M3MYTD1Y3Y5Y
Perf.
MDST
TPYP
+3.07%+5.63%
+11.89%+18.94%
+11.04%+18.63%
+19.91%+25.11%
n/a+97.28%
n/a+154.11%
Flows
MDST
TPYP
+$14M+$7M
+$35M+$13M
+$29M+$13M
+$122M-$15M
--$17M
-+$7M
Volatility and drawdown
3M1Y3Y5Y
Volatility
MDST
TPYP
+10.04%+12.99%
+16.64%+16.47%
n/a+15.03%
n/a+17.18%
Max drawdown
MDST
TPYP
-2.67%-3.05%
-14.31%-12.89%
n/a-12.89%
n/a-17.85%
Max drawdown duration
MDST
TPYP
9d9d
174d174d
n/a174d
n/a574d
Trading data

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MDST
TPYP
Last sale
3/12/2026 at 3:01 PM
$28.83
$41.88
Previous close
03/11/2026
$28.75
$41.91
Consolidated volume
03/11/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of February 27, 2026
1-year trailing difference

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MDST
is actively managed and doesn’t replicate an index

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MDST
TPYP
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
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Main metrics
Last update 3/12/2026 at 3:01 PM
Live
Closed
MDST
TPYP
Last price
$28.83
$41.88
1D performance
+0.28%
-0.07%
AuM$217.24 M$844.59 M
E/R0.8%0.4%
Characteristics
MDST
TPYP
Management strategyActivePassive
ProviderWestwoodTortoise Capital
Benchmark-Tortoise North American Pipeline Index
N° of holdings2041
Asset class-Equities
Trailing 12m distribution yield
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Inception dateApril 9, 2024June 30, 2015
ESGNoNo
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Exposure

Countries

MDST
USA
74.56%
Canada
18.72%
Other
6.72%
TPYP
USA
74.14%
Canada
25.53%
Other
0.33%

Sectors

MDST
Energy
93.28%
Other
6.72%
TPYP
Energy
78.04%
Utilities
19.97%
Other
1.99%
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Diversification

MDST

Total weight of top 15 holdings out of 15

86.44%
TPYP

Total weight of top 15 holdings out of 15

77.23%

Top 15 holdings

Data as of January 31, 2026
MDST
ENERGY TRANSFER LP UNITS
8.74%
ENBRIDGE
8.53%
WILLIAMS
8.09%
ENTERPRISE PRODUCTS PARTNERS UNT
6.85%
KINDER MORGAN
6.22%
DT MIDSTREAM INC
5.83%
TC ENERGY CORP
5.41%
TARGA RESOURCS
5.25%
ONEOK
4.95%
PEMBINA PIPELINE
4.78%
MPLX COMMON UNITS
4.67%
ANTERO MIDSTREAM CORPORATION
4.45%
CHENIERE ENERGY
4.41%
HESS MIDSTREAM PARTNERS LP
4.15%
PLAINS GP HOLDINGS
4.12%
TPYP
KINDER MORGAN
7.92%
WILLIAMS
7.75%
TC ENERGY CORP
7.58%
CHENIERE ENERGY
7.25%
ENBRIDGE
7.21%
ONEOK
6.84%
ENERGY TRANSFER LP UNITS
4.14%
TARGA RESOURCS
4.09%
NISOURCE
4.01%
PEMBINA PIPELINE
3.98%
ENTERPRISE PRODUCTS PARTNERS UNT
3.88%
MPLX COMMON UNITS
3.78%
ATMOS ENERGY
3.72%
ALTAGAS
2.82%
KEYERA
2.26%
Frequently asked questions about MDST and TPYP

How have the MDST and TPYP ETFs performed in 2026?

As of March 10, 2026, MDST is up 11.04% year-to-date (YTD), while TPYP has returned 18.63%. That puts TPYP better performer ahead so far this year.

Which ETF is attracting more investor money: MDST or TPYP?

Year-to-date, the MDST ETF saw +$29M in flows, compared to +$13M for TPYP.

Which ETF is more volatile: MDST or TPYP?

Over the past year, MDST had a volatility of 16.64%, while TPYP experienced 16.47%.

Which ETF is bigger: MDST or TPYP?

As of March 10, 2026, MDST holds $217.24 M in assets under management (AUM), while TPYP manages $844.59 M.

What sectors do the MDST and TPYP ETFs invest in?

MDST leans toward sectors like Energy. Meanwhile, TPYP focuses on Energy and Utilities.

What are the top holdings of the MDST ETF and TPYP ETF?

MDST top holdings include ENERGY TRANSFER LP UNITS, ENBRIDGE and WILLIAMS. TPYP holds in its top three: KINDER MORGAN, WILLIAMS and TC ENERGY CORP.

Which ETF is more diversified: MDST or TPYP?

MDST holds 20 securities with 86.44% of its assets in the top 15. TPYP has 44 securities and a top 15 weight of 77.23%.

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