MDST vs SPY
Westwood Salient Enhanced Midstream Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MDST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $285M | $789.1B | |
| Dividend Yield | 10.20% | 1.01% | |
| Holdings | 118 | 505 | |
| YTD Return | +16.90% | +13.39% | |
| 1Y Return | +21.12% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 10.8% | 15.3% | |
| Max Drawdown | -14.2% | -56.5% | |
| Fund Family | Westwood Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 8, 2024 | Jan 22, 1993 |
MDST vs SPY Performance
Westwood Salient Enhanced Midstream Income ETF (MDST) is a ETF from Westwood Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MDST returned +21.12% while SPY returned +22.52%. Year to date, MDST is up 16.90% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.8% for MDST. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.2% for MDST and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MDST charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, MDST currently yields 10.20% against 1.01% for SPY.
Holdings Overlap
MDST and SPY share 4 holdings out of 521 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MDST or SPY?
MDST has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, MDST or SPY?
Over the past year MDST returned +21.12% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), MDST annualized +18.35% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MDST or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.8% for MDST. Worst drawdown: MDST -14.2% vs SPY -56.5%.
Should I hold both MDST and SPY?
MDST and SPY have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MDST and SPY?
MDST and SPY share 4 common holdings with a 0.4% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, MDST or SPY?
MDST yields 10.20% while SPY yields 1.01%, so MDST currently pays the higher dividend yield.
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