ELFY vs. UTES

Last updated Aug 4, 2026

ELFY (ALPS Electrification Infrastructure ETF) and UTES (Virtus Reaves Utilities ETF) are both exchange-traded funds - ELFY is a Infrastructure Equities fund tracking the Ladenburg Thalmann Electrification Infrastructure Index, while UTES is a Utilities Equities fund actively managed by Virtus. ELFY is passively managed, while UTES is actively managed. Over the past year, ELFY returned 23.88% vs -2.59% for UTES. Their 0.70 correlation means they have sometimes moved together and sometimes differently. ELFY charges 0.50%/yr vs 0.49%/yr for UTES.

Performance

ELFY vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Electrification Infrastructure ETF (ELFY) 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, ELFY achieves a 18.04% return, which is significantly higher than UTES's 0.36% return.

ELFY

• 1D: 1.43%
• 1M: -3.83%
• 6M: 9.13%
• YTD: 18.04%
• 1Y: 23.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 42.33%

UTES

• 1D: 1.44%
• 1M: -2.90%
• 6M: 3.82%
• YTD: 0.36%
• 1Y: -2.59%
• 3Y*: 22.82%
• 5Y*: 14.89%
• 10Y*: 12.14%
• ALL TIME*: 13.64%

*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)
ELFY ALPS Electrification Infrastructure ETF	$1.73M	$2.33M	$2.21M
UTES Virtus Reaves Utilities ETF	$11.31M	$10.12M	$13.80M

ELFY vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025
ELFY ALPS Electrification Infrastructure ETF	18.04%	34.72%
UTES Virtus Reaves Utilities ETF	0.36%	25.95%

Correlation

The correlation between ELFY and UTES is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Apr 10, 2025	0.70

The correlation between ELFY and UTES has been stable across timeframes, ranging from 0.69 to 0.70 - a consistent structural relationship.

ELFY vs. UTES - Sectors Allocation Comparison

Sectors	ELFY	UTES
Utilities	40.0%	100.0%
Industrials	26.0%	-
Energy	16.0%	-
Technology	12.8%	-
Basic Materials	4.4%	-
Consumer Cyclical	0.6%	-
Financial Services	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ELFY vs. UTES — Risk / Return Rank

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

ELFY

ELFY Risk / Return Rank: 46
ELFY Sharpe Ratio Rank: 45
ELFY Sortino Ratio Rank: 44
ELFY Omega Ratio Rank: 42
ELFY Calmar Ratio Rank: 48
ELFY Martin Ratio Rank: 53

UTES

UTES Risk / Return Rank: 9
UTES Sharpe Ratio Rank: 9
UTES Sortino Ratio Rank: 9
UTES Omega Ratio Rank: 9
UTES Calmar Ratio Rank: 9
UTES Martin Ratio Rank: 8

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.

ELFY vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Electrification Infrastructure ETF (ELFY) 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.

	ELFY	UTES	Difference
Sharpe ratio: Return per unit of total volatility	1.16	-0.12	+1.28
Sortino ratio: Return per unit of downside risk	1.66	-0.02	+1.68
Omega ratio: Gain probability vs. loss probability	1.20	1.00	+0.21
Calmar ratio: Return relative to maximum drawdown	1.76	-0.19	+1.95
Martin ratio: Return relative to average drawdown	6.40	-0.39	+6.79

ELFY vs. UTES - Sharpe Ratio Comparison

The current ELFY Sharpe Ratio is 1.16, which is higher than the UTES Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of ELFY 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

ELFY vs. UTES - Drawdown Comparison

The maximum ELFY drawdown since its inception was -13.61%, smaller than the maximum UTES drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for ELFY and UTES.

Drawdown Indicators

	ELFY	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-13.61%	-35.39%	+21.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-13.88%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.39%	—
Current Drawdown Current decline from peak	-9.16%	-9.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.12%	-5.54%	+3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	6.74%	-3.00%

Volatility

ELFY vs. UTES - Volatility Comparison

ALPS Electrification Infrastructure ETF (ELFY) has a higher volatility of 6.75% compared to Virtus Reaves Utilities ETF (UTES) at 5.50%. This indicates that ELFY's price experiences larger fluctuations and is considered to be riskier than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFY	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	5.50%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	17.01%	16.23%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	21.46%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.06%	20.75%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	20.27%	-0.21%

ELFY vs. UTES - Expense Ratio Comparison

ELFY has a 0.50% expense ratio, which is higher than UTES's 0.49% expense ratio.

Dividends

ELFY vs. UTES - Dividend Comparison

ELFY's dividend yield for the trailing twelve months is around 1.04%, less than UTES's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELFY ALPS Electrification Infrastructure ETF	1.04%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTES Virtus Reaves Utilities ETF	1.51%	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 ELFY and UTES in my portfolio?

ELFY and UTES have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELFY or UTES?

ELFY has higher volatility (6.75%) compared to UTES (5.50%). In terms of maximum drawdown, ELFY dropped -13.61% vs UTES's -35.39%.

Which ETF is better, ELFY or UTES?

On 1-year performance, ELFY leads with 23.88% vs -2.59% for UTES. On fees, UTES is cheaper at 0.49% per year. On volatility, UTES has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ELFY or UTES?

Over the 1-year period, ELFY has performed better with a 23.88% return vs -2.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ELFY or UTES?

UTES is cheaper with a 0.49% expense ratio, compared with 0.50% for ELFY.

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

UTES has the higher dividend yield at 1.51%, compared with 1.04% for ELFY.

What is the main difference between ELFY and UTES?

ELFY is categorized as Infrastructure Equities, while UTES is Utilities Equities. They also come from different issuers: ALPS and Virtus. Their fees differ too: 0.50% for ELFY and 0.49% for UTES.

Which has better risk-adjusted returns?

ELFY currently has the higher Sharpe Ratio (1.16 vs -0.12), 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.