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TPYPvsMDSTETF Comparison

ETF 1
TPYP

Tortoise North American Pipeline Fund ETF - USD

This fund is part of
Infrastructure
-0.27%
VS
ETF 2
MDST

Westwood Salient Enhanced Midstream Income ETF

This fund is part of
Options Strategies
+0.26%

Tortoise North American Pipeline Fund ETF - USD (TPYP) belongs to the Infrastructure segment. Westwood Salient Enhanced Midstream Income ETF (MDST) is part of the Options Strategies segment. TPYP's top 3 sector exposures are Energy and Utilities. In contrast, MDST's top sector exposures are Energy  TPYP is less expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.8% for MDST. TPYP is up 18.51% year-to-date (YTD) with +$61M in YTD flows. MDST performs worse with 10.96% YTD performance, and +$47M in YTD flows. Run a side-by-side ETF comparison of TPYP and MDST 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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TPYP vs MDST performance and flow charts

Performance

-5.0-4.0-3.0-2.0-1.00.01.0%Mar 24Mar 31Apr 8Apr 15Apr 22

Cumulative Flows

0 M5 M10 M15 M20 M25 M30 M35 MMar 24Mar 31Apr 8Apr 15Apr 22

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Historic performance and flows
Data as of 04/24/2026
1M3MYTD1Y3Y5Y
Perf.
TPYP
MDST
-3.08%-2.16%
+13.50%+7.16%
+18.51%+10.96%
+21.58%+17.43%
+90.53%n/a
+148.20%n/a
Flows
TPYP
MDST
+$27M+$15M
+$60M+$39M
+$61M+$47M
+$46M+$139M
+$31M-
+$29M-
Volatility and drawdown
3M1Y3Y5Y
Volatility
TPYP
MDST
+12.99%+9.36%
+12.31%+11.27%
+14.89%n/a
+17.14%n/a
Max drawdown
TPYP
MDST
-5.44%-4.32%
-6.92%-5.89%
-12.89%n/a
-17.85%n/a
Max drawdown duration
TPYP
MDST
26d29d
114d66d
174dn/a
574dn/a
Trading data

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TPYP
MDST
Last sale
4/27/2026 at 1:30 PM
$41.43
$28.24
Previous close
04/24/2026
$41.50
$28.30
Consolidated volume
04/24/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of March 31, 2026
1-year trailing difference

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MDST
is actively managed and doesn’t replicate an index

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TPYP
MDST
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
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Main metrics
Last update 4/27/2026 at 1:30 PM
Live
Closed
TPYP
MDST
Last price
$41.43
$28.24
1D performance
-0.17%
-0.23%
AuM$883.95 M$233.77 M
E/R0.4%0.8%
Characteristics
TPYP
MDST
Management strategyPassiveActive
ProviderTortoise CapitalWestwood
BenchmarkTortoise North American Pipeline Index-
N° of holdings4120
Asset classEquities-
Trailing 12m distribution yield
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Inception dateJune 30, 2015April 9, 2024
ESGNoNo
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Exposure

Countries

TPYP
USA
73.98%
Canada
25.66%
Other
0.36%
MDST
USA
74.28%
Canada
17.8%
Other
7.92%

Sectors

TPYP
Energy
76.95%
Utilities
20.33%
Other
2.72%
MDST
Energy
92.08%
Other
7.92%
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Diversification

TPYP

Total weight of top 15 holdings out of 15

75.36%
MDST

Total weight of top 15 holdings out of 15

85.36%

Top 15 holdings

Data as of March 31, 2026
TPYP
CHENIERE ENERGY
7.55%
KINDER MORGAN
7.41%
ENBRIDGE
7.37%
TC ENERGY CORP
7.20%
WILLIAMS
7.09%
ONEOK
6.98%
ENTERPRISE PRODUCTS PARTNERS UNT
4.08%
TARGA RESOURCS
4.07%
ENERGY TRANSFER LP UNITS
4.06%
PEMBINA PIPELINE
3.94%
NISOURCE
3.90%
ATMOS ENERGY
3.90%
ALTAGAS
2.91%
MPLX COMMON UNITS
2.50%
NFG
2.40%
MDST
ENBRIDGE
8.66%
ENERGY TRANSFER LP UNITS
8.65%
WILLIAMS
8.28%
ENTERPRISE PRODUCTS PARTNERS UNT
6.77%
DT MIDSTREAM INC
5.90%
KINDER MORGAN
5.81%
CHENIERE ENERGY
5.25%
ONEOK
4.93%
ANTERO MIDSTREAM CORPORATION
4.66%
TC ENERGY CORP
4.63%
MPLX COMMON UNITS
4.52%
PEMBINA PIPELINE
4.51%
PLAINS GP HOLDINGS
4.38%
TARGA RESOURCS
4.32%
HESS MIDSTREAM PARTNERS LP
4.09%
Frequently asked questions about TPYP and MDST

How have the TPYP and MDST ETFs performed in 2026?

As of April 24, 2026, TPYP is up 18.51% year-to-date (YTD), while MDST has returned 10.96%. That puts TPYP better performer ahead so far this year.

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

Year-to-date, the TPYP ETF saw +$61M in flows, compared to +$47M for MDST.

Which ETF is more volatile: TPYP or MDST?

Over the past year, TPYP had a volatility of 12.31%, while MDST experienced 11.27%.

Which ETF is bigger: TPYP or MDST?

As of April 24, 2026, TPYP holds $883.95 M in assets under management (AUM), while MDST manages $233.77 M.

What sectors do the TPYP and MDST ETFs invest in?

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

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

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

Which ETF is more diversified: TPYP or MDST?

TPYP holds 44 securities with 75.36% of its assets in the top 15. MDST has 20 securities and a top 15 weight of 85.36%.

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