CIF.TO vs. UTES.TO
CIF.TO (iShares Global Infrastructure Index ETF) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both exchange-traded funds - CIF.TO is a Energy Equities fund tracking the Manulife Investment Management Global Infrastructure Index, while UTES.TO is a Derivative Income fund actively managed by Evolve. CIF.TO is passively managed, while UTES.TO is actively managed. Over the past year, CIF.TO returned 36.41% vs 27.63% for UTES.TO. At a 0.15 correlation, their price movements are largely independent. CIF.TO charges 0.72%/yr vs 0.60%/yr for UTES.TO.
Performance
CIF.TO vs. UTES.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CIF.TO achieves a 28.27% return, which is significantly higher than UTES.TO's 14.90% return.
CIF.TO
- 1D
- -0.15%
- 1M
- 3.03%
- YTD
- 28.27%
- 6M
- 21.43%
- 1Y
- 36.41%
- 3Y*
- 27.18%
- 5Y*
- 19.02%
- 10Y*
- 13.58%
UTES.TO
- 1D
- 0.10%
- 1M
- 0.31%
- YTD
- 14.90%
- 6M
- 16.66%
- 1Y
- 27.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CIF.TO vs. UTES.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CIF.TO iShares Global Infrastructure Index ETF | 28.27% | 14.57% | 6.94% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 14.90% | 18.66% | -4.15% |
Correlation
The correlation between CIF.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 4, 2024 | 0.15 |
The correlation between CIF.TO and UTES.TO shifts across timeframes, from 0.02 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CIF.TO vs. UTES.TO — Risk / Return Rank
CIF.TO
UTES.TO
CIF.TO vs. UTES.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure Index ETF (CIF.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.
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.
| CIF.TO | UTES.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.52 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 4.34 | -0.49 |
| Martin ratioReturn relative to average drawdown | 13.76 | 13.74 | +0.03 |
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Drawdowns
CIF.TO vs. UTES.TO - Drawdown Comparison
The maximum CIF.TO drawdown since its inception was -45.41%, 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 CIF.TO and UTES.TO.
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Drawdown Indicators
| CIF.TO | UTES.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.41% | -10.19% | -35.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -6.39% | -3.10% |
Max Drawdown (3Y)Largest decline over 3 years | -20.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.41% | — | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.62% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -2.55% | -7.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 2.02% | +0.63% |
Volatility
CIF.TO vs. UTES.TO - Volatility Comparison
iShares Global Infrastructure Index ETF (CIF.TO) has a higher volatility of 4.78% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 3.57%. This indicates that CIF.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
| CIF.TO | UTES.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.78% | 3.57% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 7.54% | +5.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.62% | 9.60% | +6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.15% | 11.07% | +4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.97% | 11.07% | +14.90% |
CIF.TO vs. UTES.TO - Expense Ratio Comparison
CIF.TO has a 0.72% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.
Dividends
CIF.TO vs. UTES.TO - Dividend Comparison
CIF.TO's dividend yield for the trailing twelve months is around 1.78%, less than UTES.TO's 17.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIF.TO iShares Global Infrastructure Index ETF | 1.78% | 2.14% | 3.13% | 2.63% | 2.83% | 2.55% | 2.37% | 2.11% | 2.82% | 2.64% | 2.09% | 2.81% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.13% | 18.30% | 6.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CIF.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.
On fees, UTES.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTES.TO is cheaper with a 0.60% expense ratio, compared with 0.72% for CIF.TO.
CIF.TO is categorized as Energy Equities, while UTES.TO is Derivative Income. They also come from different issuers: iShares and Evolve. Their fees differ too: 0.72% for CIF.TO and 0.60% for UTES.TO.
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