ETHR.TO vs. UTES.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Ether ETF CAD Unhedged Units (ETHR.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO).

ETHR.TO and UTES.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ETHR.TO is a passively managed fund by Evolve that tracks the performance of the CME CF Ether-Dollar Reference Rate. It was launched on Apr 19, 2021. UTES.TO is an actively managed fund by Evolve. It was launched on Sep 3, 2024.

Performance

ETHR.TO vs. UTES.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Ether ETF CAD Unhedged Units (ETHR.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO). The values are adjusted to include any dividend payments, if applicable.

ETHR.TO vs. UTES.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHR.TO Evolve Ether ETF CAD Unhedged Units	-28.50%	-17.01%	44.45%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	9.57%	18.66%	-4.25%

Returns By Period

In the year-to-date period, ETHR.TO achieves a -28.50% return, which is significantly lower than UTES.TO's 9.57% return.

ETHR.TO

• 1D: 3.98%
• 1M: 11.16%
• YTD: -28.50%
• 6M: -50.03%
• 1Y: 9.03%
• 3Y*: 3.59%
• 5Y*: —
• 10Y*: —

UTES.TO

• 1D: -2.03%
• 1M: -0.62%
• YTD: 9.57%
• 6M: 8.75%
• 1Y: 21.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETHR.TO vs. UTES.TO - Expense Ratio Comparison

ETHR.TO has a 0.75% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.

ETHR.TO

Evolve Ether ETF CAD Unhedged Units

UTES.TO

Evolve Canadian Utilities Enhanced Yield Index Fund ETF

Return for Risk

ETHR.TO vs. UTES.TO — Risk / Return Rank

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

ETHR.TO

ETHR.TO Risk / Return Rank: 17
ETHR.TO Sharpe Ratio Rank: 14
ETHR.TO Sortino Ratio Rank: 24
ETHR.TO Omega Ratio Rank: 21
ETHR.TO Calmar Ratio Rank: 14
ETHR.TO Martin Ratio Rank: 13

UTES.TO

UTES.TO Risk / Return Rank: 89
UTES.TO Sharpe Ratio Rank: 90
UTES.TO Sortino Ratio Rank: 90
UTES.TO Omega Ratio Rank: 89
UTES.TO Calmar Ratio Rank: 86
UTES.TO Martin Ratio Rank: 88

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.

ETHR.TO vs. UTES.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Ether ETF CAD Unhedged Units (ETHR.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.

	ETHR.TO	UTES.TO	Difference
Sharpe ratio Return per unit of total volatility	0.12	1.94	-1.82
Sortino ratio Return per unit of downside risk	0.73	2.54	-1.81
Omega ratio Gain probability vs. loss probability	1.08	1.36	-0.28
Calmar ratio Return relative to maximum drawdown	0.11	2.59	-2.48
Martin ratio Return relative to average drawdown	0.23	10.83	-10.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHR.TO vs. UTES.TO - Sharpe Ratio Comparison

The current ETHR.TO Sharpe Ratio is 0.12, which is lower than the UTES.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ETHR.TO and UTES.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ETHR.TO	UTES.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.94	-1.82
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	1.36	-1.38

Correlation

The correlation between ETHR.TO and UTES.TO is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ETHR.TO vs. UTES.TO - Dividend Comparison

ETHR.TO has not paid dividends to shareholders, while UTES.TO's dividend yield for the trailing twelve months is around 15.76%.

	TTM	2025	2024
ETHR.TO Evolve Ether ETF CAD Unhedged Units	0.00%	0.00%	0.00%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	15.76%	18.30%	6.05%

Drawdowns

ETHR.TO vs. UTES.TO - Drawdown Comparison

The maximum ETHR.TO drawdown since its inception was -78.36%, 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 ETHR.TO and UTES.TO.

Drawdown Indicators

	ETHR.TO	UTES.TO	Difference
Max Drawdown Largest peak-to-trough decline	-78.36%	-10.19%	-68.17%
Max Drawdown (1Y) Largest decline over 1 year	-62.29%	-8.29%	-54.00%
Current Drawdown Current decline from peak	-56.68%	-2.33%	-54.35%
Average Drawdown Average peak-to-trough decline	-43.06%	-2.64%	-40.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.72%	2.01%	+28.71%

Volatility

ETHR.TO vs. UTES.TO - Volatility Comparison

Evolve Ether ETF CAD Unhedged Units (ETHR.TO) has a higher volatility of 19.68% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 3.44%. This indicates that ETHR.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.

Volatility by Period

	ETHR.TO	UTES.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.68%	3.44%	+16.24%
Volatility (6M) Calculated over the trailing 6-month period	52.55%	6.98%	+45.57%
Volatility (1Y) Calculated over the trailing 1-year period	74.21%	11.00%	+63.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.62%	11.12%	+61.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.62%	11.12%	+61.50%