JPM vs. UTES

Last updated Jun 13, 2026

JPM (JPMorgan Chase & Co.) is a stock, while UTES (Virtus Reaves Utilities ETF) is Utilities Equities fund actively managed by Virtus Investment Partners. Over the past 10 years, JPM returned 21.02%/yr vs 12.27%/yr for UTES. At a 0.22 correlation, their price movements are largely independent.

Performance

JPM vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Chase & Co. (JPM) 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, JPM achieves a 0.50% return, which is significantly higher than UTES's 0.26% return. Over the past 10 years, JPM has outperformed UTES with an annualized return of 21.02%, while UTES has yielded a comparatively lower 12.27% annualized return.

JPM

• 1D: 2.31%
• 1M: 6.82%
• YTD: 0.50%
• 6M: 1.66%
• 1Y: 21.89%
• 3Y*: 34.22%
• 5Y*: 17.82%
• 10Y*: 21.02%

UTES

• 1D: 1.56%
• 1M: -0.29%
• YTD: 0.26%
• 6M: 0.49%
• 1Y: 8.31%
• 3Y*: 22.00%
• 5Y*: 15.32%
• 10Y*: 12.27%

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

JPM vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPM JPMorgan Chase & Co.	0.50%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%
UTES Virtus Reaves Utilities ETF	0.26%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	25.48%	5.14%	14.21%

Correlation

The correlation between JPM and UTES is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.22

The correlation between JPM and UTES shifts across timeframes, from 0.22 (all time) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

JPM vs. UTES — Risk / Return Rank

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

JPM

JPM Risk / Return Rank: 69
JPM Sharpe Ratio Rank: 74
JPM Sortino Ratio Rank: 66
JPM Omega Ratio Rank: 66
JPM Calmar Ratio Rank: 70
JPM Martin Ratio Rank: 70

UTES

UTES Risk / Return Rank: 16
UTES Sharpe Ratio Rank: 16
UTES Sortino Ratio Rank: 16
UTES Omega Ratio Rank: 15
UTES Calmar Ratio Rank: 18
UTES Martin Ratio Rank: 17

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.

JPM vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) 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.

	JPM	UTES	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.39	+0.62
Sortino ratio: Return per unit of downside risk	1.43	0.67	+0.76
Omega ratio: Gain probability vs. loss probability	1.18	1.08	+0.10
Calmar ratio: Return relative to maximum drawdown	1.42	0.60	+0.82
Martin ratio: Return relative to average drawdown	3.36	1.32	+2.03

JPM vs. UTES - Sharpe Ratio Comparison

The current JPM Sharpe Ratio is 1.01, which is higher than the UTES Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of JPM 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

JPM vs. UTES - Drawdown Comparison

The maximum JPM drawdown since its inception was -76.16%, which is greater than UTES's maximum drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for JPM and UTES.

Drawdown Indicators

	JPM	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-76.16%	-35.39%	-40.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-13.88%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-24.42%	-17.62%	-6.80%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-20.40%	-18.37%
Max Drawdown (10Y) Largest decline over 10 years	-43.63%	-35.39%	-8.24%
Current Drawdown Current decline from peak	-3.66%	-9.10%	+5.44%
Average Drawdown Average peak-to-trough decline	-17.62%	-5.53%	-12.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.54%	6.29%	+0.25%

Volatility

JPM vs. UTES - Volatility Comparison

The current volatility for JPMorgan Chase & Co. (JPM) is 6.35%, while Virtus Reaves Utilities ETF (UTES) has a volatility of 7.23%. This indicates that JPM experiences smaller price fluctuations and is considered to be less risky than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPM	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	7.23%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	16.67%	17.05%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	21.76%	21.32%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	20.62%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.39%	20.17%	+7.22%

Dividends

JPM vs. UTES - Dividend Comparison

JPM's dividend yield for the trailing twelve months is around 1.84%, more than UTES's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPM JPMorgan Chase & Co.	1.84%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%
UTES Virtus Reaves Utilities ETF	1.49%	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 JPM and UTES in my portfolio?

JPM and UTES have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPM or UTES?

UTES has higher volatility (7.23%) compared to JPM (6.35%). In terms of maximum drawdown, JPM dropped -76.16% vs UTES's -35.39%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (1.01 vs 0.39), 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.