HDIF.TO vs. UTES.TO
HDIF.TO (Harvest Diversified Monthly Income ETF - Class A Units) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HDIF.TO returned 28.86% vs 23.90% for UTES.TO. At a 0.16 correlation, their price movements are largely independent. HDIF.TO charges 2.47%/yr vs 0.60%/yr for UTES.TO.
Performance
HDIF.TO vs. UTES.TO - Performance Comparison
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Returns By Period
In the year-to-date period, HDIF.TO achieves a 11.54% return, which is significantly lower than UTES.TO's 12.58% return.
HDIF.TO
- 1D
- -0.73%
- 1M
- 6.52%
- YTD
- 11.54%
- 6M
- 12.52%
- 1Y
- 28.86%
- 3Y*
- 18.30%
- 5Y*
- —
- 10Y*
- —
UTES.TO
- 1D
- -0.26%
- 1M
- 2.26%
- YTD
- 12.58%
- 6M
- 12.56%
- 1Y
- 23.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDIF.TO vs. UTES.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 11.54% | 15.61% | 4.56% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.58% | 18.66% | -4.25% |
Correlation
The correlation between HDIF.TO and UTES.TO is -0.03, 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 | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.16 |
The correlation between HDIF.TO and UTES.TO shifts across timeframes, from -0.03 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDIF.TO vs. UTES.TO — Risk / Return Rank
HDIF.TO
UTES.TO
HDIF.TO vs. UTES.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harvest Diversified Monthly Income ETF - Class A Units (HDIF.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.
| HDIF.TO | UTES.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.46 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.75 | -0.45 |
| Martin ratioReturn relative to average drawdown | 13.66 | 11.90 | +1.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDIF.TO | UTES.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 2.59 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.38 | -0.85 |
Drawdowns
HDIF.TO vs. UTES.TO - Drawdown Comparison
The maximum HDIF.TO drawdown since its inception was -24.07%, 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 HDIF.TO and UTES.TO.
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Drawdown Indicators
| HDIF.TO | UTES.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.07% | -10.19% | -13.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -6.39% | -2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -19.60% | — | — |
Current DrawdownCurrent decline from peak | -0.73% | -1.86% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -2.62% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 2.03% | +0.09% |
Volatility
HDIF.TO vs. UTES.TO - Volatility Comparison
Harvest Diversified Monthly Income ETF - Class A Units (HDIF.TO) has a higher volatility of 3.50% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 2.96%. This indicates that HDIF.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
| HDIF.TO | UTES.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 2.96% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 7.51% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 9.28% | +3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 11.01% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 11.01% | +6.48% |
HDIF.TO vs. UTES.TO - Expense Ratio Comparison
HDIF.TO has a 2.47% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.
Dividends
HDIF.TO vs. UTES.TO - Dividend Comparison
HDIF.TO's dividend yield for the trailing twelve months is around 10.21%, less than UTES.TO's 17.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HDIF.TO Harvest Diversified Monthly Income ETF - Class A Units | 10.21% | 9.93% | 10.15% | 10.62% | 8.95% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.48% | 18.30% | 6.05% | 0.00% | 0.00% |
Frequently Asked Questions
HDIF.TO and UTES.TO have a correlation of -0.03, 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 2.47% for HDIF.TO.
They also come from different issuers: Harvest and Evolve. Their fees differ too: 2.47% for HDIF.TO and 0.60% for UTES.TO.
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