ACES vs. VPU

Last updated Jun 3, 2026

ACES (ALPS Clean Energy ETF) and VPU (Vanguard Utilities ETF) are both exchange-traded funds - ACES is a Alternative Energy Equities fund tracking the CIBC Atlas Clean Energy Index, while VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index. Both are passively managed. Over the past 5 years, ACES returned -8.07%/yr vs 9.19%/yr for VPU. At a 0.32 correlation, their price movements are largely independent. ACES charges 0.55%/yr vs 0.10%/yr for VPU.

Performance

ACES vs. VPU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Clean Energy ETF (ACES) and Vanguard Utilities ETF (VPU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACES achieves a 32.49% return, which is significantly higher than VPU's 3.78% return.

ACES

• 1D: 2.95%
• 1M: 20.25%
• YTD: 32.49%
• 6M: 32.78%
• 1Y: 80.47%
• 3Y*: -0.25%
• 5Y*: -8.07%
• 10Y*: —

VPU

• 1D: 1.96%
• 1M: -5.14%
• YTD: 3.78%
• 6M: 1.55%
• 1Y: 10.46%
• 3Y*: 13.83%
• 5Y*: 9.19%
• 10Y*: 9.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACES vs. VPU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	32.49%	25.44%	-26.71%	-20.04%	-28.44%	-19.44%	140.33%	51.70%	-9.63%
VPU Vanguard Utilities ETF	3.78%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	3.25%

Correlation

The correlation between ACES and VPU is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jul 2, 2018	0.32

ACES vs. VPU - Sectors Allocation Comparison

Sectors	ACES	VPU
Utilities	25.5%	99.3%
Technology	24.8%	-
Industrials	20.3%	0.2%
Consumer Cyclical	11.1%	-
Basic Materials	9.3%	-
Financial Services	5.3%	-
Consumer Defensive	3.2%	-
Energy	0.5%	0.5%
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ACES vs. VPU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACES

ACES Risk / Return Rank: 69
ACES Sharpe Ratio Rank: 76
ACES Sortino Ratio Rank: 66
ACES Omega Ratio Rank: 60
ACES Calmar Ratio Rank: 83
ACES Martin Ratio Rank: 62

VPU

VPU Risk / Return Rank: 22
VPU Sharpe Ratio Rank: 22
VPU Sortino Ratio Rank: 20
VPU Omega Ratio Rank: 21
VPU Calmar Ratio Rank: 25
VPU Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACES vs. VPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) and Vanguard Utilities ETF (VPU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ACES	VPU	Difference
Sharpe ratio Return per unit of total volatility	2.51	0.74	+1.77
Sortino ratio Return per unit of downside risk	3.09	1.08	+2.01
Omega ratio Gain probability vs. loss probability	1.37	1.13	+0.24
Calmar ratio Return relative to maximum drawdown	4.47	1.21	+3.26
Martin ratio Return relative to average drawdown	11.30	2.75	+8.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACES vs. VPU - Sharpe Ratio Comparison

The current ACES Sharpe Ratio is 2.51, which is higher than the VPU Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of ACES and VPU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACES	VPU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	0.74	+1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	0.54	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.53	-0.31

Drawdowns

ACES vs. VPU - Drawdown Comparison

The maximum ACES drawdown since its inception was -79.05%, which is greater than VPU's maximum drawdown of -46.31%. Use the drawdown chart below to compare losses from any high point for ACES and VPU.

Drawdown Indicators

	ACES	VPU	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	-46.31%	-32.74%
Max Drawdown (1Y) Largest decline over 1 year	-17.44%	-8.90%	-8.54%
Max Drawdown (3Y) Largest decline over 3 years	-58.68%	-17.34%	-41.34%
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	-25.15%	-49.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.42%	—
Current Drawdown Current decline from peak	-55.14%	-6.72%	-48.42%
Average Drawdown Average peak-to-trough decline	-38.86%	-7.78%	-31.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	3.94%	+2.97%

Volatility

ACES vs. VPU - Volatility Comparison

ALPS Clean Energy ETF (ACES) has a higher volatility of 9.41% compared to Vanguard Utilities ETF (VPU) at 5.34%. This indicates that ACES's price experiences larger fluctuations and is considered to be riskier than VPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACES	VPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.41%	5.34%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	22.55%	11.58%	+10.97%
Volatility (1Y) Calculated over the trailing 1-year period	32.32%	14.29%	+18.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.15%	17.05%	+19.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.58%	19.13%	+16.45%

ACES vs. VPU - Expense Ratio Comparison

ACES has a 0.55% expense ratio, which is higher than VPU's 0.10% expense ratio.

Dividends

ACES vs. VPU - Dividend Comparison

ACES's dividend yield for the trailing twelve months is around 0.53%, less than VPU's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACES ALPS Clean Energy ETF	0.53%	0.70%	1.10%	1.44%	1.08%	0.71%	0.56%	1.79%	0.34%	0.00%	0.00%	0.00%
VPU Vanguard Utilities ETF	2.67%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both ACES and VPU in my portfolio?

ACES and VPU have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACES or VPU?

ACES has higher volatility (9.41%) compared to VPU (5.34%). In terms of maximum drawdown, ACES dropped -79.05% vs VPU's -46.31%.

Which ETF is better, ACES or VPU?

On 5-year performance, VPU leads with 9.19% vs -8.07% for ACES. On fees, VPU is cheaper at 0.10% per year. On volatility, VPU has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACES or VPU?

Over the 5-year period, VPU has performed better with a 9.19% return vs -8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACES or VPU?

VPU is cheaper with a 0.10% expense ratio, compared with 0.55% for ACES.

Which ETF pays a higher dividend yield, ACES or VPU?

VPU has the higher dividend yield at 2.67%, compared with 0.53% for ACES.

What is the main difference between ACES and VPU?

ACES is categorized as Alternative Energy Equities, while VPU is Utilities Equities. ACES tracks CIBC Atlas Clean Energy Index, while VPU tracks MSCI US Investable Market Utilities 25/50 Index. They also come from different issuers: SS&C and Vanguard. Their fees differ too: 0.55% for ACES and 0.10% for VPU.

Which has better risk-adjusted returns?

ACES currently has the higher Sharpe Ratio (2.51 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.