AMLP vs. MDST ETF Comparison

Comparison of Alerian MLP ETF (AMLP) to Westwood Salient Enhanced Midstream Income ETF (MDST)

AMLP

Alerian MLP ETF

AMLP Description

The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index. The index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the United States energy infrastructure Master Limited Partnership ("MLP") asset class. The fund will normally invest at least 90% of its total assets in securities that comprise the index (or depositary receipts based on such securities). It is non-diversified.

Grade (RS Rating)

Last Trade

$49.63

Average Daily Volume

1,458,276

Number of Holdings ^*

* may have additional holdings in another (foreign) market

MDST

Westwood Salient Enhanced Midstream Income ETF

MDST Description

MDST invests North American midstream investments while employing a covered call strategy. The actively managed fund targets investment grade, midstream securities from the US and Canada that include companies engaged in the energy infrastructure industry and ancillary businesses. The fund may directly invest up to 25% in US MLPs that are publicly traded and treated as partnerships for federal income tax purposes. The fund employs a bottom-up, research-driven selection process with emphasis on opportunities and growth prospects. In addition, the advisor maintains proprietary business valuation models and analyzes various fundamental and technical factors. To enhance income, the fund writes call options on securities held within the portfolio. It may also use standardized exchange-traded and FLEX options. The fund expects returns from the distribution yield, covered call premiums, cash distribution growth, and potential price appreciation. Single securities are capped at 15%.

Grade (RS Rating)

Last Trade

$28.00

Average Daily Volume

17,339

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	AMLP	MDST
30 Days	7.87%	7.86%
60 Days	6.26%	8.31%
90 Days	7.80%	9.80%
12 Months	25.01%

8 Overlapping Holdings

Symbol	Grade	Weight in AMLP	Weight in MDST	Overlap
DKL	C	0.97%	0.37%	0.37%
ENLC	A	7.95%	3.83%	3.83%
EPD	A	12.98%	8.12%	8.12%
ET	A	13.54%	9.3%	9.3%
GEL	D	2.46%	0.33%	0.33%
HESM	B	6.46%	4.35%	4.35%
MPLX	A	13.28%	4.29%	4.29%
WES	C	11.74%	3.0%	3.0%

AMLP Overweight 6 Positions Relative to MDST

Symbol	Grade	Weight
PAA	B	12.08%
SUN	B	11.36%
CQP	B	4.24%
USAC	B	3.26%
GLP	A	2.63%
SPH	B	2.23%

AMLP Underweight 10 Positions Relative to MDST

Symbol	Grade	Weight
WMB	A	-8.51%
KMI	A	-8.05%
PAGP	A	-5.98%
DTM	B	-5.91%
TRGP	B	-5.86%
OKE	A	-5.25%
LNG	B	-5.08%
AM	A	-4.73%
KNTK	B	-4.29%
NEXT	B	-0.05%

MDST: Top Represented Industries & Keywords

Industries: Oil & Gas Midstream Oil & Gas Pipelines Oil & Gas E&P