ICAE.TO vs. UMVP.TO

Last updated Aug 4, 2026

ICAE.TO (Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF) and UMVP.TO (Hamilton Champions Utilities Index ETF) are both exchange-traded funds - ICAE.TO is a Dividend fund tracking the S&P/TSX Canadian Dividend Aristocrats ESG Index, while UMVP.TO is a Utilities Equities fund tracking the Solactive Canadian Utility Services High Dividend Index. Both are passively managed. Their 0.11 correlation means their historical movements had little consistent relationship. ICAE.TO charges 0.23%/yr vs 0.19%/yr for UMVP.TO.

Performance

ICAE.TO vs. UMVP.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Hamilton Champions Utilities Index ETF (UMVP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ICAE.TO

• 1D: 0.25%
• 1M: 2.32%
• 6M: 17.35%
• YTD: 18.85%
• 1Y: 18.52%
• 3Y*: 15.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.49%

UMVP.TO

• 1D: -1.56%
• 1M: 1.46%
• 6M: 10.87%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF	CA$1.16K	CA$2.33K	CA$4.66K
UMVP.TO Hamilton Champions Utilities Index ETF	CA$71.84K	CA$60.57K	CA$51.81K

ICAE.TO vs. UMVP.TO - Yearly Performance Comparison

	2026 (YTD)
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF	16.83%
UMVP.TO Hamilton Champions Utilities Index ETF	13.29%

Correlation

The correlation between ICAE.TO and UMVP.TO is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.11

ICAE.TO vs. UMVP.TO - Sectors Allocation Comparison

Sectors	ICAE.TO	UMVP.TO
Financial Services	45.5%	-
Energy	16.3%	33.6%
Industrials	10.3%	-
Basic Materials	9.9%	-
Consumer Defensive	6.4%	-
Consumer Cyclical	4.5%	-
Utilities	4.4%	43.6%
Communication Services	1.3%	22.8%
Technology	0.4%	-
Real Estate	0.4%	-
Healthcare	-	-

Return for Risk

ICAE.TO vs. UMVP.TO — Risk / Return Rank

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

ICAE.TO

ICAE.TO Risk / Return Rank: 36
ICAE.TO Sharpe Ratio Rank: 34
ICAE.TO Sortino Ratio Rank: 30
ICAE.TO Omega Ratio Rank: 59
ICAE.TO Calmar Ratio Rank: 31
ICAE.TO Martin Ratio Rank: 26

UMVP.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ICAE.TO vs. UMVP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE.TO) and Hamilton Champions Utilities Index ETF (UMVP.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.

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.

	ICAE.TO	UMVP.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.92	—	—
Sortino ratio: Return per unit of downside risk	1.19	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.11	—	—
Martin ratio: Return relative to average drawdown	2.21	—	—

Drawdowns

ICAE.TO vs. UMVP.TO - Drawdown Comparison

The maximum ICAE.TO drawdown since its inception was -16.49%, which is greater than UMVP.TO's maximum drawdown of -4.86%. Use the drawdown chart below to compare losses from any high point for ICAE.TO and UMVP.TO.

Drawdown Indicators

	ICAE.TO	UMVP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.49%	-4.86%	-11.63%
Max Drawdown (1Y) Largest decline over 1 year	-16.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	—	—
Current Drawdown Current decline from peak	-1.02%	-2.75%	+1.73%
Average Drawdown Average peak-to-trough decline	-3.48%	-1.11%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.23%	—	—

Volatility

Volatility by Period

	ICAE.TO	UMVP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	10.02%	+9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.90%	10.02%	+5.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	10.02%	+5.88%

ICAE.TO vs. UMVP.TO - Expense Ratio Comparison

ICAE.TO has a 0.23% expense ratio, which is higher than UMVP.TO's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ICAE.TO vs. UMVP.TO - Dividend Comparison

ICAE.TO's dividend yield for the trailing twelve months is around 2.71%, more than UMVP.TO's 2.23% yield.

Position	TTM	2025	2024	2023
ICAE.TO Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF	2.71%	3.29%	3.33%	2.87%
UMVP.TO Hamilton Champions Utilities Index ETF	2.23%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICAE.TO and UMVP.TO in my portfolio?

ICAE.TO and UMVP.TO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICAE.TO or UMVP.TO?

On fees, UMVP.TO is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICAE.TO or UMVP.TO?

UMVP.TO is cheaper with a 0.19% expense ratio, compared with 0.23% for ICAE.TO.

What is the main difference between ICAE.TO and UMVP.TO?

ICAE.TO is categorized as Dividend, while UMVP.TO is Utilities Equities. ICAE.TO tracks S&P/TSX Canadian Dividend Aristocrats ESG Index, while UMVP.TO tracks Solactive Canadian Utility Services High Dividend Index. They also come from different issuers: Invesco and Hamilton. Their fees differ too: 0.23% for ICAE.TO and 0.19% for UMVP.TO.