ERH vs. GUT

Last updated Jun 23, 2026

ERH (Allspring Utilities and High Income Fund) and GUT (The Gabelli Utility Trust) are both Utilities Equities funds. Over the past 10 years, ERH returned 6.59%/yr vs 9.31%/yr for GUT. At a 0.23 correlation, their price movements are largely independent. ERH charges 0.93%/yr vs 0.01%/yr for GUT.

Performance

ERH vs. GUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Utilities and High Income Fund (ERH) and The Gabelli Utility Trust (GUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERH achieves a 3.55% return, which is significantly lower than GUT's 10.55% return. Over the past 10 years, ERH has underperformed GUT with an annualized return of 6.59%, while GUT has yielded a comparatively higher 9.31% annualized return.

ERH

• 1D: 0.09%
• 1M: -1.51%
• YTD: 3.55%
• 6M: 4.43%
• 1Y: 12.51%
• 3Y*: 14.39%
• 5Y*: 4.02%
• 10Y*: 6.59%

GUT

• 1D: 0.63%
• 1M: 2.57%
• YTD: 10.55%
• 6M: 10.19%
• 1Y: 23.55%
• 3Y*: 8.72%
• 5Y*: 5.74%
• 10Y*: 9.31%

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

ERH vs. GUT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERH Allspring Utilities and High Income Fund	3.55%	19.85%	25.71%	-10.52%	-18.38%	22.14%	-1.15%	33.97%	-8.98%	18.32%
GUT The Gabelli Utility Trust	10.55%	33.14%	6.01%	-21.07%	-1.10%	9.51%	13.19%	42.32%	-7.87%	22.98%

Correlation

The correlation between ERH and GUT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Apr 28, 2004	0.23

Return for Risk

ERH vs. GUT — Risk / Return Rank

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

ERH

ERH Risk / Return Rank: 14
ERH Sharpe Ratio Rank: 14
ERH Sortino Ratio Rank: 13
ERH Omega Ratio Rank: 15
ERH Calmar Ratio Rank: 16
ERH Martin Ratio Rank: 10

GUT

GUT Risk / Return Rank: 56
GUT Sharpe Ratio Rank: 36
GUT Sortino Ratio Rank: 35
GUT Omega Ratio Rank: 35
GUT Calmar Ratio Rank: 90
GUT Martin Ratio Rank: 84

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.

ERH vs. GUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Utilities and High Income Fund (ERH) and The Gabelli Utility Trust (GUT). 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.

	ERH	GUT	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.61	-0.62
Sortino ratio: Return per unit of downside risk	1.38	2.27	-0.89
Omega ratio: Gain probability vs. loss probability	1.19	1.29	-0.11
Calmar ratio: Return relative to maximum drawdown	1.34	4.38	-3.04
Martin ratio: Return relative to average drawdown	2.79	14.52	-11.74

ERH vs. GUT - Sharpe Ratio Comparison

The current ERH Sharpe Ratio is 0.98, which is lower than the GUT Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of ERH and GUT, 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

ERH vs. GUT - Drawdown Comparison

The maximum ERH drawdown since its inception was -69.81%, which is greater than GUT's maximum drawdown of -52.79%. Use the drawdown chart below to compare losses from any high point for ERH and GUT.

Drawdown Indicators

	ERH	GUT	Difference
Max Drawdown Largest peak-to-trough decline	-69.81%	-52.79%	-17.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-5.40%	-3.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.24%	-30.63%	+9.39%
Max Drawdown (5Y) Largest decline over 5 years	-37.85%	-33.94%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	-46.11%	-42.21%	-3.90%
Current Drawdown Current decline from peak	-6.87%	0.00%	-6.87%
Average Drawdown Average peak-to-trough decline	-17.27%	-8.50%	-8.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	1.63%	+2.87%

Volatility

ERH vs. GUT - Volatility Comparison

Allspring Utilities and High Income Fund (ERH) has a higher volatility of 3.93% compared to The Gabelli Utility Trust (GUT) at 3.68%. This indicates that ERH's price experiences larger fluctuations and is considered to be riskier than GUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERH	GUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	3.68%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	10.45%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	14.75%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	21.44%	-4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	23.79%	-4.07%

ERH vs. GUT - Expense Ratio Comparison

ERH has a 0.93% expense ratio, which is higher than GUT's 0.01% expense ratio.

Dividends

ERH vs. GUT - Dividend Comparison

ERH's dividend yield for the trailing twelve months is around 8.59%, less than GUT's 9.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERH Allspring Utilities and High Income Fund	8.59%	8.13%	7.15%	9.19%	8.09%	5.86%	7.20%	6.53%	8.06%	6.82%	7.53%	8.04%
GUT The Gabelli Utility Trust	9.45%	9.95%	11.73%	11.07%	7.99%	7.28%	7.39%	7.72%	10.10%	8.45%	9.52%	10.53%

Frequently Asked Questions

Can I hold both ERH and GUT in my portfolio?

ERH and GUT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERH or GUT?

ERH has higher volatility (3.93%) compared to GUT (3.68%). In terms of maximum drawdown, ERH dropped -69.81% vs GUT's -52.79%.

Which has better risk-adjusted returns?

GUT currently has the higher Sharpe Ratio (1.61 vs 0.98), 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.