Which paid more, AIPI or MDST?

Over the year to Nov 4, 2026, AIPI paid 29.2% of its starting price in cash and MDST paid 10.8%, so AIPI paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, AIPI or MDST?

With every distribution reinvested, AIPI returned +5.3% and MDST +22.6% over the year to Nov 4, 2026.

Which is cheaper, AIPI or MDST?

AIPI charges 0.65% a year and MDST charges 0.80%, so AIPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

AIPI vs MDST: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, AIPI paid 29.2% of its price in cash against MDST’s 10.8%, though MDST returned more with it reinvested.

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Net assets: $446m on Nov 3, 2026 for REX AI EQUITY PREMIUM INCOME ETF, and $287m on Jul 31, 2026 for Westwood Salient Enhanced Midstream Income ETF.

AIPI on its own →MDST on its own →

At a glance

29.2%

AIPI cash paid, 1 year

10.8%

MDST cash paid, 1 year

+5.3%

AIPI total return, 1 year

+22.6%

MDST total return, 1 year

AIPI · 1 year to Nov 4, 2026 Not measured

AIPI

+5.3%

none

Not measured

AIPI over 1 year: paid 29.2%, price −24.8%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

AIPI

+5.3%

29.2% as cash

Total return, distributions reinvested

Not measured

AIPI over 1 year: paid 29.2%, price −24.8%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

AIPI

+5.3%

29.2% of it arrived as cash. Total return, distributions reinvested. AIPI over 1 year: paid 29.2%, price −24.8%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

MDST · 1 year to Nov 4, 2026 9.1 pts behind ENFR

MDST

+22.6%

ENFR

+31.7%

9.1 pts behind ENFR

MDST over 1 year: paid 10.8%, price +11.5%, total +22.6%, ENFR +31.7%, −9.1 pts. Data to Nov 4, 2026.

ENFR

+31.7%

MDST

+22.6%

10.8% of it arrived as cash

9.1 pts behind ENFR

Total return, distributions reinvested

9.1 pts behind ENFR

MDST over 1 year: paid 10.8%, price +11.5%, total +22.6%, ENFR +31.7%, −9.1 pts. Data to Nov 4, 2026.

ENFR

+31.7%

MDST

+22.6%

9.1 pts behind ENFR

10.8% of it arrived as cash. Both charts share one scale, with zero at the line. MDST over 1 year: paid 10.8%, price +11.5%, total +22.6%, ENFR +31.7%, −9.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

AIPI costs 0.15 points a year less; their one-year returns differ by 17.3 points.

Points (pts) are percentage points.

AIPI vs MDST: Dividend Yield & Total Return
Measure	AIPI	MDST
Paid and earned
Measure	AIPI	MDST
Total return, 1 year	+5.3%	+22.6%
Price change, 1 year	fell 24.8%	rose 11.5%
Return of capital, issuer estimate	100% of the Oct 22, 2026 payment	100% of the Oct 5, 2026 payment
Against its benchmark
Measure	AIPI	MDST
Benchmark	not published	Alerian Energy Infrastructure ETF, measured through ENFR
Cost and size
Measure	AIPI	MDST
Expense ratio	0.65%	0.80%
Net assets, AIPI as of Nov 3, 2026 and MDST as of Jul 31, 2026	$446m	$287m
Holdings
Measure	AIPI	MDST
Holdings in common	0%

Method

Risk and return

Jun 14, 2024 to Oct 30, 2026 · 124 weekly returns

AIPI MDST

Return

Total return edge MDST +39.6% +51.1%

Annualized edge MDST +15.0% +18.9%

Price return edge MDST −37.2% +19.0%

Risk

Volatility edge MDST 21.4% 14.9%

Max drawdown edge MDST −24.9% −10.7%

Risk-adjusted

Sharpe edge MDST 0.57 0.96

Sortino edge MDST 0.80 1.34

Calmar edge MDST 0.60 1.77

Reading

From Jun 2024 to Oct 2026, MDST returned more: +51.1% to +39.6%. MDST swung less: 14.9% to 21.4%. MDST fell less at its worst: −10.7% to −24.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: AIPI vs MDST: Dividend Yield & Total Return
Measure	AIPI	MDST	Edge	How it is measured
Return
Total return	+39.6%	+51.1%	MDST	Price change plus distributions, reinvested.
Annualized	+15.0%	+18.9%	MDST	Total return as a yearly rate.
Price return	−37.2%	+19.0%	MDST	Price change alone, distributions left out.
Risk
Volatility	21.4%	14.9%	MDST	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	15.1%	10.6%	MDST	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.9%	−10.7%	MDST	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.57	0.96	MDST	Return above Treasury bills per unit of volatility.
Sortino	0.80	1.34	MDST	Return above Treasury bills per unit of downside deviation.
Calmar	0.60	1.77	MDST	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 124 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, AIPI and MDST hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIPI MDST

Only in one fund ↓

Only in AIPI

PALANTIR TECHNOLOGIES INC. 10.84%

NVIDIA CORPORATION 9.86%

CROWDSTRIKE HOLDINGS, INC. 8.07%

ARM Holdings PLC 5.82%

Astera Labs, Inc. 5.08%

SALESFORCE, INC. 4.01%

SUPER MICRO COMPUTER, INC. 3.59%

SERVICENOW, INC. 3.56%

Only in MDST

ENERGY TRANSFER LP 9.17%

ENBRIDGE INC 8.76%

WILLIAMS COMPANIES INC (THE) 8.18%

ENTERPRISE PRODUCTS PARTNERS LP 6.85%

DT MIDSTREAM INC 6.08%

KINDER MORGAN INC 5.60%

CHENIERE ENERGY INC 4.90%

TC ENERGY CORP 4.82%

Check overlap with more funds →

Side by side

AIPI REX AI EQUITY PREMIUM INCOME ETF · Covered call, paying weekly MDST Westwood Salient Enhanced Midstream Income ETF · Option income on ENFR, paying monthly

Issuer REX Westwood

Strategy covered call option income

Benchmark none Alerian Energy Infrastructure ETF (ENFR)

Pays weekly monthly

Payout rate, annualized 35.0% 9.7%

Expense ratio 0.65% 0.80%

Cash paid, 1 year 29.2% 10.8%

Price change, 1 year −24.8% +11.5%

Total return, 1 year +5.3% +22.6%

Benchmark return, 1 year not published +31.7%

Ahead or behind not available −9.1 pts

Return of capital, latest estimate 100% 100%

Age 2.4 years 2.6 years

Net assets, AIPI as of Nov 3, 2026 and MDST as of Jul 31, 2026 $446m $287m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: AIPI vs MDST: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	AIPI	MDST	AIPI	MDST	AIPI	MDST
3 months	−3.8%	−0.5%	8.7%	2.4%	not measured	+0.7 pts
6 months	+4.5%	+1.9%	16.2%	4.7%	not measured	+0.6 pts
1 year	+5.3%	+22.6%	29.2%	10.8%	not measured	−9.1 pts
Since launchNot the same days: AIPI Jun 2024 · MDST Apr 2024	+42.9%	+44.5%	67.5%	27.9%	not measured	−21.5 pts

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About each fund

AIPI

Over the year to Nov 4, 2026, AIPI paid 29.2% of its starting value in cash distributions while its price fell 24.8%. With every distribution reinvested, the fund returned +5.3%. At its price on Nov 4, 2026 the latest distribution annualizes to 35.0%, paid weekly. REX estimates that 100% of the distribution paid Oct 22, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

MDST

Over the year to Nov 4, 2026, MDST paid 10.8% of its starting value in cash distributions while its price rose 11.5%. With every distribution reinvested, the fund returned +22.6%. Alerian Energy Infrastructure ETF (ENFR) returned +31.7% over the same days, so a holder was behind by 9.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.7%, paid monthly. Westwood estimates that 100% of the distribution paid Oct 5, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, AIPI or MDST?: Over the year to Nov 4, 2026, AIPI paid 29.2% of its starting price in cash and MDST paid 10.8%, so AIPI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, AIPI or MDST?: With every distribution reinvested, AIPI returned +5.3% and MDST +22.6% over the year to Nov 4, 2026.
Which is cheaper, AIPI or MDST?: AIPI charges 0.65% a year and MDST charges 0.80%, so AIPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIPI vs GOOY AIPI vs TDVI AIPI vs TSLY AIPI vs FEPI MDST vs TDVI MDST vs XLEI MDST vs WEEI MDST vs USOY

Where to next

Alerian Energy Infrastructure ETF (ENFR) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →AIPI on its own →MDST on its own →AIPI dividend history →AIPI holdings →MDST dividend history →MDST holdings →Method →Standards and sources →

Sources and dates

AIPI filings on SEC EDGAR ↗

AIPI prospectus with the expense ratio (SEC) ↗

AIPI 19a-1 distribution notice ↗

REX page for AIPI ↗

MDST filings on SEC EDGAR ↗

MDST prospectus with the expense ratio (SEC) ↗

MDST 19a-1 distribution notice ↗

Westwood website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIPI against MDST, data as of Nov 4, 2026. https://etfiq.com/compare/income/aipi-vs-mdst

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