AMZA vs. UTES

Last updated Aug 2, 2026

AMZA (InfraCap MLP ETF) and UTES (Virtus Reaves Utilities ETF) are both exchange-traded funds - AMZA is a MLPs fund actively managed by Virtus, while UTES is a Utilities Equities fund actively managed by Virtus. Both are actively managed. Over the past 10 years, AMZA returned 5.46%/yr vs 11.78%/yr for UTES. Their 0.21 correlation means their historical movements had little consistent relationship. AMZA charges 2.01%/yr vs 0.49%/yr for UTES.

Performance

AMZA vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap MLP ETF (AMZA) and Virtus Reaves Utilities ETF (UTES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZA achieves a 30.46% return, which is significantly higher than UTES's -1.07% return. Over the past 10 years, AMZA has underperformed UTES with an annualized return of 5.46%, while UTES has yielded a comparatively higher 11.78% annualized return.

AMZA

• 1D: 0.65%
• 1M: 5.94%
• 6M: 21.61%
• YTD: 30.46%
• 1Y: 23.26%
• 3Y*: 22.79%
• 5Y*: 22.88%
• 10Y*: 5.46%
• ALL TIME*: -0.35%

UTES

• 1D: -0.03%
• 1M: -4.28%
• 6M: 0.59%
• YTD: -1.07%
• 1Y: -3.98%
• 3Y*: 21.10%
• 5Y*: 14.97%
• 10Y*: 11.78%
• ALL TIME*: 13.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMZA InfraCap MLP ETF	$1.66M	$1.65M	$1.75M
UTES Virtus Reaves Utilities ETF	$11.16M	$10.04M	$13.72M

AMZA vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMZA InfraCap MLP ETF	30.46%	0.17%	30.90%	23.35%	33.20%	51.22%	-49.25%	6.27%	-26.78%	-6.90%
UTES Virtus Reaves Utilities ETF	-1.07%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	25.48%	5.14%	14.21%

Correlation

The correlation between AMZA and UTES is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.05
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (5Y) Shows whether the relationship held over a longer period.	0.33
Correlation (10Y) Provides a long-term view across more market conditions.	0.24
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.21

The correlation between AMZA and UTES shifts across timeframes, from 0.05 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

AMZA vs. UTES - Sectors Allocation Comparison

Sectors	AMZA	UTES
Energy	99.8%	-
Industrials	1.2%	-
Utilities	0.2%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

AMZA vs. UTES — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMZA

AMZA Risk / Return Rank: 47
AMZA Sharpe Ratio Rank: 49
AMZA Sortino Ratio Rank: 48
AMZA Omega Ratio Rank: 45
AMZA Calmar Ratio Rank: 52
AMZA Martin Ratio Rank: 42

UTES

UTES Risk / Return Rank: 7
UTES Sharpe Ratio Rank: 8
UTES Sortino Ratio Rank: 8
UTES Omega Ratio Rank: 8
UTES Calmar Ratio Rank: 7
UTES Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMZA vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap MLP ETF (AMZA) and Virtus Reaves Utilities ETF (UTES). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMZA	UTES	Difference
Sharpe ratio: Return per unit of total volatility	1.20	-0.20	+1.40
Sortino ratio: Return per unit of downside risk	1.74	-0.14	+1.88
Omega ratio: Gain probability vs. loss probability	1.21	0.98	+0.22
Calmar ratio: Return relative to maximum drawdown	1.85	-0.31	+2.16
Martin ratio: Return relative to average drawdown	4.51	-0.65	+5.16

AMZA vs. UTES - Sharpe Ratio Comparison

The current AMZA Sharpe Ratio is 1.20, which is higher than the UTES Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of AMZA and UTES, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMZA vs. UTES - Drawdown Comparison

The maximum AMZA drawdown since its inception was -91.46%, which is greater than UTES's maximum drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for AMZA and UTES.

Drawdown Indicators

	AMZA	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-91.46%	-35.39%	-56.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-13.88%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.56%	-17.62%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-20.40%	-4.75%
Max Drawdown (10Y) Largest decline over 10 years	-86.84%	-35.39%	-51.45%
Current Drawdown Current decline from peak	-4.13%	-10.30%	+6.17%
Average Drawdown Average peak-to-trough decline	-44.51%	-5.54%	-38.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	6.72%	-1.70%

Volatility

AMZA vs. UTES - Volatility Comparison

InfraCap MLP ETF (AMZA) and Virtus Reaves Utilities ETF (UTES) have volatilities of 5.43% and 5.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZA	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	5.50%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	16.19%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.20%	21.39%	-3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.27%	20.74%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.14%	20.26%	+16.88%

AMZA vs. UTES - Expense Ratio Comparison

AMZA has a 2.01% expense ratio, which is higher than UTES's 0.49% expense ratio.

Dividends

AMZA vs. UTES - Dividend Comparison

AMZA's dividend yield for the trailing twelve months is around 7.83%, more than UTES's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZA InfraCap MLP ETF	7.83%	8.81%	7.29%	9.40%	7.65%	10.24%	22.13%	19.47%	34.46%	24.16%	18.36%	18.21%
UTES Virtus Reaves Utilities ETF	1.53%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both AMZA and UTES in my portfolio?

AMZA and UTES have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZA or UTES?

UTES has higher volatility (5.50%) compared to AMZA (5.43%). In terms of maximum drawdown, AMZA dropped -91.46% vs UTES's -35.39%.

Which ETF is better, AMZA or UTES?

On 10-year performance, UTES leads with 11.78% vs 5.46% for AMZA. On fees, UTES is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZA or UTES?

Over the 10-year period, UTES has performed better with a 11.78% return vs 5.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZA or UTES?

UTES is cheaper with a 0.49% expense ratio, compared with 2.01% for AMZA.

Which ETF pays a higher dividend yield, AMZA or UTES?

AMZA has the higher dividend yield at 7.83%, compared with 1.53% for UTES.

What is the main difference between AMZA and UTES?

AMZA is categorized as MLPs, while UTES is Utilities Equities. Their fees differ too: 2.01% for AMZA and 0.49% for UTES.

Which has better risk-adjusted returns?

AMZA currently has the higher Sharpe Ratio (1.20 vs -0.20), 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.