Westwood ETFs

Enhanced Midstream Income ETF (MDST)

Enhanced Midstream Income

About MDST

An energy infrastructure portfolio with an options overlay

Energy Infrastructure Portfolio

Bottom-up fundamental process utilizing over 30 years of investment experience to create a fundamental framework for security selection and portfolio construction.

Characteristics
# of holdings
15-25
Tracking error
1-2%
Options Overlay

Options designed to generate income while reducing volatility and beta*

Disciplined single-stock options strategy: 1-month call options averaging 4 to 5% out-of-the-money, sold on a monthly recurring basis

Enhanced Midstream Income Strategy

A well-researched fundamentally driven strategy

Seeks to provide clients with distributable income via options premium and dividends

Seeks to provide income paid out monthly

Seeks to deliver 10-20% less volatility and beta than the Alerian Midstream

MDST Details

Objective

The Westwood Salient Enhanced Midstream Income ETF is an actively-managed ETF that seeks to provide current income and capital appreciation by investing in securities of Midstream U.S. and Canadian corporations and U.S. master limited partnerships.

Ticker
MDST
Distribution Frequency
Monthly
Inception Date
April 9, 2024
CUSIP
90386K589
Exchange
NYSE
NAV
$24.75
Closing Price
$24.73
30 Day Median Bid Ask Spread*
0.20%
30-Day SEC Yield (subsidized/unsubsidized)
4.93% / 4.93%
Discount/ Premium
-0.08%
Number of Holdings
91
Expense Ratio
0.80%
Shares Outstanding
1,725,000
Fund Assets
$42,690,777.97
Related Materials

*30-day median bid/ask spread reflects the median of the difference between the best bid and offer as of the end of each 10-second interval during each trading day of the last 30 calendar days.




Top Holdings

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Name Security Identifier Symbol Net Assets % Market Price Shares Held Market Value Market Value %
ENERGY TRANSFER 29273V100 ET 9.31% 15.16 262,171 3,974,512 9.31%
TC ENERGY CORP 87807B107 TRP 8.82% 38.75 97,137 3,764,059 8.82%
ENTERPRISE PRODU 293792107 EPD 8.16% 28.33 122,980 3,484,023 8.16%
ENBRIDGE INC 29250N105 ENB 7.80% 35.12 94,834 3,330,570 7.80%
KINDER MORGAN IN 49456B101 KMI 7.60% 19.59 165,702 3,246,102 7.60%
PLAINS GP HOLD-A 72651A207 PAGP 6.43% 17.40 157,815 2,745,981 6.43%
TARGA RESOURCES 87612G101 TRGP 4.89% 119.00 17,537 2,086,903 4.89%
DT MIDSTREAM 23345M107 DTM 4.88% 68.06 30,605 2,082,976 4.88%
HESS MIDSTREAM-A 428103105 HESM 4.74% 35.23 57,422 2,022,977 4.74%
CHENIERE ENERGY 16411R208 LNG 4.64% 155.88 12,701 1,979,832 4.64%

Premium/Discount Chart

The Premium/Discount of an ETF is defined as the amount the ETF is trading above/below the NAV of the underlying holdings.
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  Q2 2024
Days at premium 35
Days at zero premium/discount 4
Days at discount 10

The Premium/Discount of an ETF is defined as the amount the ETF is trading above/below the NAV of the underlying holdings.


Total Operating Expense 0.80%


NAV Return represents the closing price of underlying securities. Market Return is calculated using the price which investors buy and sell ETF shares in the market. The market returns in the table are based upon the midpoint of the bid/ask spread at 4:00 pm EST, and do not represent the returns you would have received if you traded shares at other times.

The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free (877) 386-3944.

Tracking error measures the divergence of returns between an investment and a benchmark. Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. A beta of 1 indicates that the security’s price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security’s price will be more volatile than the market. Out of the money is also known as OTM, meaning an option has no intrinsic value, only extrinsic value. A call option is OTM if the underlying price is trading below the strike price of the call. A put option is OTM if the underlying’s price is above the put’s strike price. The SEC 30-Day Yield is a metric used to measure the income generated by a mutual fund or an exchange-traded fund (ETF) over a 30-day period. It is calculated by taking the net investment income earned by the fund over the past 30 days and annualizing it. The Unsubsidized SEC Yield represents what a fund’s 30-Day SEC Yield would have been had no fee waivers or expense reimbursement been in place over the period.

 

MDST Portfolio Managers

Our Investment Approach

Westwood ETFs

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Westwood ETFs are distributed by Northern Lights Distributors, LLC (Member FINRA). Northern Lights Distributors and Westwood ETFs (or Westwood Holdings Group, Inc.) are separate and unaffiliated.



To determine if this Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by calling 877.FUND.WHG (877.386.3944). Please read the prospectus carefully before investing.

How to Invest in Westwood ETFs

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Westwood ETFs are available for trading on most platforms. Contact us today to learn more about Westwood ETFs and how we can help you build your client’s portfolio.

Westwood ETFs are distributed by Northern Lights Distributors, LLC (Member FINRA). Northern Lights Distributors and Westwood ETFs (or Westwood Holdings Group, Inc.) are separate and unaffiliated.



To determine if this Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by calling 877.FUND.WHG (877.386.3944). Please read the prospectus carefully before investing.

How to Invest in Westwood ETFs

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Working with a financial professional?

Westwood ETFs may be a powerful addition to your portfolio. Email your financial professional to discuss how MDST can help.

Buy Through Your Brokerage

You can invest in MDST through any of these platforms:

Westwood ETFs are distributed by Northern Lights Distributors, LLC (Member FINRA). Northern Lights Distributors and Westwood ETFs (or Westwood Holdings Group, Inc.) are separate and unaffiliated.



To determine if this Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Fund’s prospectus, which may be obtained by calling 877.FUND.WHG (877.386.3944). Please read the prospectus carefully before investing.