MDST vs. ENFR ETF Comparison

Comparison of Westwood Salient Enhanced Midstream Income ETF (MDST) to Alerian Energy Infrastructure ETF (ENFR)

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

$25.15

Average Daily Volume

26,701

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ENFR

Alerian Energy Infrastructure ETF

ENFR 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 Energy Infrastructure Index (AMEI) (the "index"). The index is comprised of 30 equity securities of issuers headquartered or incorporated in the United States and Canada that engage in the transportation, storage, and processing of energy commodities ("midstream energy businesses"). 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

$26.70

Average Daily Volume

24,722

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MDST	ENFR
30 Days	0.57%	3.45%
60 Days	2.53%	5.91%
90 Days		6.11%
12 Months		29.31%

8 Overlapping Holdings

Symbol	Grade	Weight in MDST	Weight in ENFR	Overlap
DTM	B	4.73%	4.99%	4.73%
EPD	B	8.07%	8.35%	8.07%
ET	B	9.47%	9.61%	9.47%
KMI	B	7.51%	4.89%	4.89%
OKE	B	4.66%	5.01%	4.66%
PAGP	B	6.53%	5.17%	5.17%
TRGP	A	4.78%	5.22%	4.78%
WMB	B	4.83%	5.14%	4.83%

MDST Overweight 0 Positions Relative to ENFR

	Symbol	Grade	Weight

MDST Underweight 12 Positions Relative to ENFR

Symbol	Grade	Weight
LNG	B	-5.28%
MPLX	B	-4.51%
ETRN	D	-4.37%
AM	B	-3.65%
HESM	A	-2.37%
ENLC	B	-2.35%
WES	B	-2.32%
KNTK	B	-0.98%
NEXT	C	-0.57%
TELL	C	-0.45%
GEL	B	-0.45%
ANET	A	-0.24%

MDST: Top Represented Industries & Keywords

Industries: Oil & Gas Midstream

ENFR: Top Represented Industries & Keywords

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