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TPYPvsMDSTETF Comparison

ETF 1
TPYP

Tortoise North American Pipeline Fund ETF - USD

This fund is part of
Infrastructure
+0.23%
Full TPYP fund page
VS
ETF 2
MDST

Westwood Salient Enhanced Midstream Income ETF

This fund is part of
Options Strategies
-0.04%
Full MDST fund page

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 18.63% year-to-date (YTD) with +$13M in YTD flows. MDST performs worse with 11.04% YTD performance, and +$29M 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

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 03/11/2026
1M3MYTD1Y3Y5Y
Perf.
TPYP
MDST
+5.63%+3.07%
+18.94%+11.89%
+18.63%+11.04%
+25.11%+19.91%
+97.28%n/a
+154.11%n/a
Flows
TPYP
MDST
+$7M+$14M
+$13M+$35M
+$13M+$29M
-$15M+$122M
-$17M-
+$7M-
Volatility and drawdown
3M1Y3Y5Y
Volatility
TPYP
MDST
+12.99%+10.04%
+16.47%+16.64%
+15.03%n/a
+17.18%n/a
Max drawdown
TPYP
MDST
-3.05%-2.67%
-12.89%-14.31%
-12.89%n/a
-17.85%n/a
Max drawdown duration
TPYP
MDST
9d9d
174d174d
174dn/a
574dn/a
Trading data

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TPYP
MDST
Last sale
3/12/2026 at 1:30 PM
$41.85
$28.73
Previous close
03/11/2026
$41.91
$28.75
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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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 3/12/2026 at 1:30 PM
Live
Closed
TPYP
MDST
Last price
$41.85
$28.73
1D performance
-0.13%
-0.07%
AuM$844.59 M$217.24 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
74.14%
Canada
25.53%
Other
0.33%
MDST
USA
74.56%
Canada
18.72%
Other
6.72%

Sectors

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

TPYP

Total weight of top 15 holdings out of 15

77.23%
MDST

Total weight of top 15 holdings out of 15

86.44%

Top 15 holdings

Data as of January 31, 2026
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%
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%
Frequently asked questions about TPYP and MDST

How have the TPYP and MDST ETFs performed in 2026?

As of March 11, 2026, TPYP is up 18.63% year-to-date (YTD), while MDST has returned 11.04%. 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 +$13M in flows, compared to +$29M for MDST.

Which ETF is more volatile: TPYP or MDST?

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

Which ETF is bigger: TPYP or MDST?

As of March 11, 2026, TPYP holds $844.59 M in assets under management (AUM), while MDST manages $217.24 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 KINDER MORGAN, WILLIAMS and TC ENERGY CORP. MDST holds in its top three: ENERGY TRANSFER LP UNITS, ENBRIDGE and WILLIAMS.

Which ETF is more diversified: TPYP or MDST?

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

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