MDST vs SAEF
Westwood Salient Enhanced Midstream Income ETF vs Schwab Ariel Opportunities ETF
Which is better, MDST or SAEF?
Each has led over a different period.
SAEF has a lower expense ratio. MDST led over the full window, SAEF over 1Y. SAEF is less concentrated, with 34.6% of the fund in its ten largest positions against 63.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MDST | SAEF |
|---|---|---|
| Expense Ratio | 0.80% | 0.59%Best |
| AUM | $305M | $19M |
| Dividend Yield | 10.69% | 0.33% |
| Holdings | 110 | 59 |
| Volatility (annualized) | 11.0%Best | 24.5% |
| Max Drawdown | -14.2%Best | -27.4% |
| $10,000 over 2.3 years | $15,047Best | $10,222 |
| Top 10 Weight | 63.7% | 34.6%Best |
| Fund Family | Westwood Funds | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Apr 8, 2024 | Nov 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 89 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. MDST has data through Oct 14, 2026 and SAEF through Jul 17, 2026.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Apr 9, 2024 to Jul 17, 2026 (2.3 years).
Risk: Volatility and Drawdowns
SAEF has been the more volatile fund, with annualized monthly volatility of 24.5% compared with 11.0% 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 -27.4% for SAEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MDST charges 0.80% per year while SAEF charges 0.59%. On a $10,000 position that is $80 vs $59 annually, a gap of $21 per year that compounds over a long holding period. On income, MDST currently yields 10.69% against 0.33% for SAEF.
Holdings Overlap
We hold position weights for 25 holdings in MDST and 58 in SAEF, totalling 97.4% and 98.3% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 185 days apart, MDST as of Oct 2, 2026 and SAEF as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 25 positions we hold weights for in MDST and 58 in SAEF, against full books of 110 and 59.
What only one of them owns
Our book lists 55 positions for SAEF that do not appear in our book for MDST (94.0% of the fund), and 21 for MDST that do not appear in SAEF (77.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of MDST and SAEF you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MDST or SAEF?
MDST has an expense ratio of 0.80% while SAEF charges 0.59%. SAEF is the cheaper option, by $21 a year on a $10,000 investment.
Which is riskier, MDST or SAEF?
SAEF has been the more volatile fund at 24.5% annualized versus 11.0% for MDST. Worst drawdown: MDST -14.2% vs SAEF -27.4%.
Should I hold both MDST and SAEF?
MDST and SAEF have a monthly-return correlation of 0.33, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MDST or SAEF?
MDST yields 10.69% while SAEF yields 0.33%, so MDST currently pays the higher dividend yield.
Is SAEF better than MDST?
SAEF has a lower expense ratio. MDST led over the full window, SAEF over 1Y. SAEF is less concentrated, with 34.6% of the fund in its ten largest positions against 63.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.