CZA vs. FKUTX

Last updated Jun 4, 2026

CZA (Invesco Zacks Mid-Cap ETF) and FKUTX (Franklin Utilities Fund) are both funds - CZA is a Mid Cap Blend Equities fund tracking the Zacks Mid-Cap Core Index, while FKUTX is a Utilities Equities fund managed by Franklin Templeton. Over the past 10 years, CZA returned 10.10%/yr vs 9.51%/yr for FKUTX. At a 0.50 correlation, their price movements are largely independent. CZA charges 0.69%/yr vs 0.72%/yr for FKUTX.

Performance

CZA vs. FKUTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Zacks Mid-Cap ETF (CZA) and Franklin Utilities Fund (FKUTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CZA having a 5.97% return and FKUTX slightly lower at 5.84%. Over the past 10 years, CZA has outperformed FKUTX with an annualized return of 10.10%, while FKUTX has yielded a comparatively lower 9.51% annualized return.

CZA

• 1D: -0.24%
• 1M: 1.90%
• YTD: 5.97%
• 6M: 6.65%
• 1Y: 13.18%
• 3Y*: 12.55%
• 5Y*: 6.64%
• 10Y*: 10.10%

FKUTX

• 1D: 1.78%
• 1M: -4.87%
• YTD: 5.84%
• 6M: 4.36%
• 1Y: 12.75%
• 3Y*: 15.73%
• 5Y*: 10.54%
• 10Y*: 9.51%

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

CZA vs. FKUTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CZA Invesco Zacks Mid-Cap ETF	5.97%	8.31%	12.14%	7.00%	-5.91%	27.42%	0.35%	32.27%	-8.89%	21.90%
FKUTX Franklin Utilities Fund	5.84%	14.59%	27.18%	-4.91%	1.67%	18.00%	-1.87%	27.28%	2.54%	9.58%

Correlation

The correlation between CZA and FKUTX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Apr 4, 2007	0.50

The correlation between CZA and FKUTX shifts across timeframes, from 0.38 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CZA vs. FKUTX — Risk / Return Rank

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

CZA

CZA Risk / Return Rank: 30
CZA Sharpe Ratio Rank: 29
CZA Sortino Ratio Rank: 29
CZA Omega Ratio Rank: 27
CZA Calmar Ratio Rank: 29
CZA Martin Ratio Rank: 36

FKUTX

FKUTX Risk / Return Rank: 14
FKUTX Sharpe Ratio Rank: 12
FKUTX Sortino Ratio Rank: 11
FKUTX Omega Ratio Rank: 11
FKUTX Calmar Ratio Rank: 19
FKUTX Martin Ratio Rank: 14

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.

CZA vs. FKUTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Mid-Cap ETF (CZA) and Franklin Utilities Fund (FKUTX). 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.

	CZA	FKUTX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	0.94	+0.10
Sortino ratio: Return per unit of downside risk	1.59	1.33	+0.25
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.02
Calmar ratio: Return relative to maximum drawdown	1.44	1.61	-0.17
Martin ratio: Return relative to average drawdown	5.48	4.16	+1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CZA vs. FKUTX - Sharpe Ratio Comparison

The current CZA Sharpe Ratio is 1.04, which is comparable to the FKUTX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of CZA and FKUTX, 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

	CZA	FKUTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.94	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.63	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.51	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.61	-0.13

Drawdowns

CZA vs. FKUTX - Drawdown Comparison

The maximum CZA drawdown since its inception was -53.20%, which is greater than FKUTX's maximum drawdown of -43.59%. Use the drawdown chart below to compare losses from any high point for CZA and FKUTX.

Drawdown Indicators

	CZA	FKUTX	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-43.59%	-9.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-8.10%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-16.35%	-2.57%
Max Drawdown (5Y) Largest decline over 5 years	-18.92%	-22.53%	+3.61%
Max Drawdown (10Y) Largest decline over 10 years	-46.18%	-36.56%	-9.62%
Current Drawdown Current decline from peak	-0.78%	-6.46%	+5.68%
Average Drawdown Average peak-to-trough decline	-6.88%	-7.00%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.13%	-0.72%

Volatility

CZA vs. FKUTX - Volatility Comparison

The current volatility for Invesco Zacks Mid-Cap ETF (CZA) is 3.13%, while Franklin Utilities Fund (FKUTX) has a volatility of 5.30%. This indicates that CZA experiences smaller price fluctuations and is considered to be less risky than FKUTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CZA	FKUTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	5.30%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	11.31%	-2.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	13.92%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	16.91%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.28%	18.83%	+0.45%

CZA vs. FKUTX - Expense Ratio Comparison

CZA has a 0.69% expense ratio, which is lower than FKUTX's 0.72% expense ratio.

Dividends

CZA vs. FKUTX - Dividend Comparison

CZA's dividend yield for the trailing twelve months is around 1.47%, less than FKUTX's 7.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CZA Invesco Zacks Mid-Cap ETF	1.47%	1.56%	1.27%	1.36%	1.71%	0.89%	1.42%	1.40%	1.27%	1.10%	1.87%	1.37%
FKUTX Franklin Utilities Fund	7.79%	7.70%	8.66%	6.47%	3.73%	4.96%	9.88%	4.29%	5.83%	3.55%	2.76%	6.14%

Frequently Asked Questions

Can I hold both CZA and FKUTX in my portfolio?

CZA and FKUTX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CZA or FKUTX?

FKUTX has higher volatility (5.30%) compared to CZA (3.13%). In terms of maximum drawdown, CZA dropped -53.20% vs FKUTX's -43.59%.

Which has better risk-adjusted returns?

CZA currently has the higher Sharpe Ratio (1.04 vs 0.94), 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.