CBNK.TO vs. UTES.TO
CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CBNK.TO returned 79.20% vs 23.90% for UTES.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
CBNK.TO vs. UTES.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CBNK.TO achieves a 25.56% return, which is significantly higher than UTES.TO's 12.58% return.
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
UTES.TO
- 1D
- -0.26%
- 1M
- 2.26%
- YTD
- 12.58%
- 6M
- 12.56%
- 1Y
- 23.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO vs. UTES.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 13.28% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.58% | 18.66% | -4.25% |
Correlation
The correlation between CBNK.TO and UTES.TO is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.14 |
The correlation between CBNK.TO and UTES.TO shifts across timeframes, from -0.02 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CBNK.TO vs. UTES.TO — Risk / Return Rank
CBNK.TO
UTES.TO
CBNK.TO vs. UTES.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO). 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.
| CBNK.TO | UTES.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.53 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.87 | 1.46 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 7.94 | 3.75 | +4.18 |
| Martin ratioReturn relative to average drawdown | 34.25 | 11.90 | +22.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBNK.TO | UTES.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.12 | 2.59 | +2.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 1.38 | -0.29 |
Drawdowns
CBNK.TO vs. UTES.TO - Drawdown Comparison
The maximum CBNK.TO drawdown since its inception was -32.12%, which is greater than UTES.TO's maximum drawdown of -10.19%. Use the drawdown chart below to compare losses from any high point for CBNK.TO and UTES.TO.
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Drawdown Indicators
| CBNK.TO | UTES.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.12% | -10.19% | -21.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.03% | -6.39% | -3.64% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | — | — |
Current DrawdownCurrent decline from peak | -2.29% | -1.86% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -2.62% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.03% | +0.29% |
Volatility
CBNK.TO vs. UTES.TO - Volatility Comparison
Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a higher volatility of 5.67% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 2.96%. This indicates that CBNK.TO's price experiences larger fluctuations and is considered to be riskier than UTES.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBNK.TO | UTES.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | 2.96% | +2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.29% | 7.51% | +5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 9.28% | +6.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 11.01% | +6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 11.01% | +6.54% |
Dividends
CBNK.TO vs. UTES.TO - Dividend Comparison
CBNK.TO's dividend yield for the trailing twelve months is around 5.94%, less than UTES.TO's 17.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.48% | 18.30% | 6.05% | 0.00% | 0.00% |
Frequently Asked Questions
CBNK.TO and UTES.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Mulvihill and Evolve.
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