In a challenging macro environment for the energy space, the broad midstream universe has performed defensively this year. MLPs may finish down for the third consecutive year on a price-return basis given performance through December 10, with MLP performance substantially diverging from midstream C-Corps thanks in part to strength in Canadian names. In today's Insights, we will review the midstream sector's performance this year and analyze some of the differences in performance through the lens of characteristics such as size, structure, geography, and business classification.