Which paid more, EIPI or MDST?

Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting price in cash and MDST paid 10.8%, so MDST paid more. Cash paid is not the same as money made: the price change matters too.

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

With every distribution reinvested, EIPI returned +21.8% and MDST +22.6% over the year to Nov 4, 2026.

Which is cheaper, EIPI or MDST?

EIPI charges 1.11% a year and MDST charges 0.80%, so MDST is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

EIPI vs MDST: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, MDST paid 10.8% of its price in cash against EIPI’s 7.7%, and returned more with it reinvested.

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Net assets: $1.1bn on Nov 3, 2026 for FT Energy Income Partners Enhanced Income ETF, and $287m on Jul 31, 2026 for Westwood Salient Enhanced Midstream Income ETF.

EIPI on its own →MDST on its own →

At a glance

7.7%

EIPI cash paid, 1 year

10.8%

MDST cash paid, 1 year

+21.8%

EIPI total return, 1 year

+22.6%

MDST total return, 1 year

EIPI · 1 year to Nov 4, 2026 3.8 pts behind its own holdings

EIPI

+21.8%

Own

+25.6%

3.8 pts behind its own holdings

EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. Data to Nov 4, 2026.

its own holdings

+25.6%

EIPI

+21.8%

7.7% as cash

3.8 pts behind its own holdings

Total return, distributions reinvested

3.8 pts behind its own holdings

EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. Data to Nov 4, 2026.

its own holdings

+25.6%

EIPI

+21.8%

3.8 pts behind its own holdings

7.7% of it arrived as cash. Total return, distributions reinvested. EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. 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, 0 to +31.7%. MDST over 1 year: paid 10.8%, price +11.5%, total +22.6%, ENFR +31.7%, −9.1 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +31.7%. Data to Nov 4, 2026.

Pair scorecard

MDST costs 0.31 points a year less; their one-year returns differ by 0.8 points.

Points (pts) are percentage points.

EIPI vs MDST: Dividend Yield & Total Return
Measure	EIPI	MDST
Paid and earned
Measure	EIPI	MDST
Total return, 1 year	+21.8%	+22.6%
Price change, 1 year	rose 13.7%	rose 11.5%
Return of capital, issuer estimate	0% of the Oct 30, 2026 payment	100% of the Oct 5, 2026 payment
Against its benchmark
Measure	EIPI	MDST
Benchmark	its own holdings	Alerian Energy Infrastructure ETF, measured through ENFR
Cost and size
Measure	EIPI	MDST
Expense ratio	1.11%	0.80%
Net assets, EIPI as of Nov 3, 2026 and MDST as of Jul 31, 2026	$1.1bn	$287m
Holdings
Measure	EIPI	MDST
Holdings in common	24%

ETFIQ Distribution Coverage Score · EIPI scores higher How much of what it paid out did its total return cover?

IQ Income Score95.5EIPI87.7MDST

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

EIPI 95.5

MDST 87.7

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

May 17, 2024 to Oct 30, 2026 · 128 weekly returns

EIPI MDST

Return

Total return edge EIPI (slight) +50.9% +48.9%

Annualized edge EIPI (slight) +18.2% +17.6%

Price return edge EIPI +21.6% +16.2%

Risk

Volatility edge EIPI 12.8% 14.7%

Max drawdown edge EIPI −8.8% −10.7%

Risk-adjusted

Sharpe edge EIPI 1.04 0.89

Sortino edge EIPI 1.50 1.24

Calmar edge EIPI 2.08 1.64

Reading

From May 2024 to Oct 2026, EIPI returned slightly more: +50.9% to +48.9%. EIPI swung less: 12.8% to 14.7%. EIPI fell less at its worst: −8.8% to −10.7%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: EIPI vs MDST: Dividend Yield & Total Return
Measure	EIPI	MDST	Edge	How it is measured
Return
Total return	+50.9%	+48.9%	EIPI (slight)	Price change plus distributions, reinvested.
Annualized	+18.2%	+17.6%	EIPI (slight)	Total return as a yearly rate.
Price return	+21.6%	+16.2%	EIPI	Price change alone, distributions left out.
Risk
Volatility	12.8%	14.7%	EIPI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.9%	10.5%	EIPI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−8.8%	−10.7%	EIPI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	1.04	0.89	EIPI	Return above Treasury bills per unit of volatility.
Sortino	1.50	1.24	EIPI	Return above Treasury bills per unit of downside deviation.
Calmar	2.08	1.64	EIPI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 128 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

24%

By the books each fund has filed, EIPI and MDST hold 24% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

24% in common

Positions both hold · largest shared weight first EIPI MDST

Energy Transfer LP 6.48% 9.17%

MPLX LP 4.47% 4.65%

Kinder Morgan, Inc. 3.97% 5.60%

ONEOK, Inc. 3.03% 4.79%

The Williams Companies, Inc. 1.94% 8.18%

Cheniere Energy, Inc. 1.60% 4.90%

Targa Resources Corp. 1.58% 4.68%

DT Midstream, Inc. 0.41% 6.08%

Hess Midstream LP (Class A) 0.27% 4.32%

Only in one fund ↓

Only in EIPI

Enterprise Products Partners L.P. 8.56%

ExxonMobil Holdings Corp. 3.53%

Shell plc (ADR) 2.79%

Duke Energy Corporation 2.58%

National Fuel Gas Company 2.27%

EOG Resources, Inc. 2.09%

Entergy Corporation 1.95%

Public Service Enterprise Group Incorporated 1.85%

Only in MDST

ENBRIDGE INC 8.76%

ENTERPRISE PRODUCTS PARTNERS LP 6.85%

TC ENERGY CORP 4.82%

PLAINS GP HOLDINGS LP 4.77%

SOUTH BOW CORP 4.62%

ANTERO MIDSTREAM CORP 4.51%

KINETIK HOLDINGS INC 3.15%

PEMBINA PIPELINE CORP 3.07%

Check overlap with more funds →

Side by side

EIPI FT Energy Income Partners Enhanced Income ETF · Covered call on its own holdings, paying monthly MDST Westwood Salient Enhanced Midstream Income ETF · Option income on ENFR, paying monthly

Issuer First Trust Westwood

Strategy covered call option income

Benchmark EIPI's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) Alerian Energy Infrastructure ETF (ENFR)

Pays monthly monthly

Payout rate, annualized 6.8% 9.7%

Expense ratio 1.11% 0.80%

Cash paid, 1 year 7.7% 10.8%

Price change, 1 year +13.7% +11.5%

Total return, 1 year +21.8% +22.6%

Benchmark return, 1 year +25.6% +31.7%

Ahead or behind −3.8 pts −9.1 pts

Return of capital, latest estimate 0% 100%

Age 2.5 years 2.6 years

Net assets, EIPI as of Nov 3, 2026 and MDST as of Jul 31, 2026 $1.1bn $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: EIPI vs MDST: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	EIPI	MDST	EIPI	MDST	EIPI	MDST
3 months	+2.2%	−0.5%	1.7%	2.4%	+0.3 pts	+0.7 pts
6 months	+2.5%	+1.9%	3.4%	4.7%	+1.1 pts	+0.6 pts
1 year	+21.8%	+22.6%	7.7%	10.8%	−3.7 pts	−9.1 pts
Since launchNot the same days: EIPI May 2024 · MDST Apr 2024	+49.6%	+44.5%	24.0%	27.9%	not measured	−21.5 pts

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About each fund

EIPI

Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting value in cash distributions while its price rose 13.7%. With every distribution reinvested, the fund returned +21.8%. EIPI's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned +25.6% over the same days, so a holder was behind by 3.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.8%, paid monthly. First Trust estimates that 0% of the distribution paid Oct 30, 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, EIPI or MDST?: Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting price in cash and MDST paid 10.8%, so MDST paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, EIPI or MDST?: With every distribution reinvested, EIPI returned +21.8% and MDST +22.6% over the year to Nov 4, 2026.
Which is cheaper, EIPI or MDST?: EIPI charges 1.11% a year and MDST charges 0.80%, so MDST is cheaper. Fees come from each fund's prospectus.

Other comparisons

EIPI vs TDVI EIPI vs XLYI EIPI vs HAKY EIPI vs FINY MDST vs NUKX MDST vs WEPN MDST vs SEMY MDST vs NDIV

Where to next

Alerian Energy Infrastructure ETF (ENFR) →EIPI on its own →MDST on its own →EIPI dividend history →EIPI holdings →MDST dividend history →MDST holdings →Method →Standards and sources →

Sources and dates

EIPI filings on SEC EDGAR ↗

EIPI prospectus with the expense ratio (SEC) ↗

EIPI 19a-1 distribution notice ↗

First Trust page for EIPI ↗

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

It is a place in a set, not a rating or a recommendation.

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

Every number is an ETFIQ calculation with distributions reinvested.

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

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