MDST vs. AMTR ETF Comparison

Comparison of Westwood Salient Enhanced Midstream Income ETF (MDST) to ETRACS Alerian Midstream Energy Total Return Index ETN (AMTR)

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

AMTR

ETRACS Alerian Midstream Energy Total Return Index ETN

AMTR Description

The investment seeks to provide an unleveraged long exposure to the performance of the Alerian Midstream Energy Adjusted Net TR Index. The index is the adjusted net total return version of the Alerian Midstream Energy Index. The securities are subject to a Daily Tracking Fee equivalent to 0.75% per annum. The index tracks a broad-based composite of North American energy infrastructure companies that earn the majority of their cash flow from midstream energy activities involving energy commodities.

Grade (RS Rating)

Last Trade

$80.83

Average Daily Volume

933

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MDST	AMTR
30 Days	7.86%	14.48%
60 Days	8.31%	19.07%
90 Days	9.80%	24.54%
12 Months		54.74%

4 Overlapping Holdings

Symbol	Grade	Weight in MDST	Weight in AMTR	Overlap
AM	A	4.73%	0.77%	0.77%
HESM	B	4.35%	0.14%	0.14%
KMI	A	8.05%	8.89%	8.05%
MPLX	A	4.29%	3.18%	3.18%

MDST Overweight 14 Positions Relative to AMTR

Symbol	Grade	Weight
ET	A	9.3%
WMB	A	8.51%
EPD	A	8.12%
PAGP	A	5.98%
DTM	B	5.91%
TRGP	B	5.86%
OKE	A	5.25%
LNG	B	5.08%
KNTK	B	4.29%
ENLC	A	3.83%
WES	C	3.0%
DKL	C	0.37%
GEL	D	0.33%
NEXT	B	0.05%

MDST Underweight 6 Positions Relative to AMTR

Symbol	Grade	Weight
ENB	A	-9.15%
PBA	B	-6.1%
CQP	B	-5.29%
KEY	B	-1.49%
NGL	D	-0.31%
TELL	F	-0.06%

MDST: Top Represented Industries & Keywords

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