MMUFX vs. UTES

Last updated Jun 24, 2026

MMUFX (MFS Utilities Fund) and UTES (Virtus Reaves Utilities ETF) are both Utilities Equities funds. Over the past 10 years, MMUFX returned 8.95%/yr vs 12.73%/yr for UTES. A 0.75 correlation means they provide meaningful diversification when combined. MMUFX charges 0.99%/yr vs 0.49%/yr for UTES.

Performance

MMUFX vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Utilities Fund (MMUFX) 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, MMUFX achieves a 7.13% return, which is significantly higher than UTES's 5.02% return. Over the past 10 years, MMUFX has underperformed UTES with an annualized return of 8.95%, while UTES has yielded a comparatively higher 12.73% annualized return.

MMUFX

• 1D: 0.68%
• 1M: -1.01%
• YTD: 7.13%
• 6M: 7.39%
• 1Y: 15.62%
• 3Y*: 10.83%
• 5Y*: 8.19%
• 10Y*: 8.95%

UTES

• 1D: -0.48%
• 1M: 1.25%
• YTD: 5.02%
• 6M: 4.73%
• 1Y: 11.48%
• 3Y*: 24.53%
• 5Y*: 17.28%
• 10Y*: 12.73%

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

MMUFX vs. UTES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMUFX MFS Utilities Fund	7.13%	14.32%	11.38%	-2.28%	0.35%	13.86%	6.04%	24.91%	0.85%	14.69%
UTES Virtus Reaves Utilities ETF	5.02%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	25.48%	5.14%	14.21%

Correlation

The correlation between MMUFX and UTES is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.75

The correlation between MMUFX and UTES shifts across timeframes, from 0.75 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MMUFX vs. UTES — Risk / Return Rank

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

MMUFX

MMUFX Risk / Return Rank: 22
MMUFX Sharpe Ratio Rank: 20
MMUFX Sortino Ratio Rank: 18
MMUFX Omega Ratio Rank: 19
MMUFX Calmar Ratio Rank: 31
MMUFX Martin Ratio Rank: 21

UTES

UTES Risk / Return Rank: 17
UTES Sharpe Ratio Rank: 17
UTES Sortino Ratio Rank: 16
UTES Omega Ratio Rank: 16
UTES Calmar Ratio Rank: 19
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.

MMUFX vs. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Utilities Fund (MMUFX) 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.

	MMUFX	UTES	Difference
Sharpe ratio: Return per unit of total volatility	1.20	0.54	+0.66
Sortino ratio: Return per unit of downside risk	1.66	0.86	+0.80
Omega ratio: Gain probability vs. loss probability	1.21	1.11	+0.11
Calmar ratio: Return relative to maximum drawdown	1.96	0.83	+1.13
Martin ratio: Return relative to average drawdown	4.82	1.81	+3.01

MMUFX vs. UTES - Sharpe Ratio Comparison

The current MMUFX Sharpe Ratio is 1.20, which is higher than the UTES Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of MMUFX 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

MMUFX vs. UTES - Drawdown Comparison

The maximum MMUFX drawdown since its inception was -56.03%, which is greater than UTES's maximum drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for MMUFX and UTES.

Drawdown Indicators

	MMUFX	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	-35.39%	-20.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-13.88%	+5.13%
Max Drawdown (3Y) Largest decline over 3 years	-17.72%	-17.62%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-21.64%	-20.40%	-1.24%
Max Drawdown (10Y) Largest decline over 10 years	-35.82%	-35.39%	-0.43%
Current Drawdown Current decline from peak	-5.09%	-4.78%	-0.31%
Average Drawdown Average peak-to-trough decline	-8.75%	-5.53%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	6.36%	-2.80%

Volatility

MMUFX vs. UTES - Volatility Comparison

The current volatility for MFS Utilities Fund (MMUFX) is 5.00%, while Virtus Reaves Utilities ETF (UTES) has a volatility of 6.66%. This indicates that MMUFX 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

	MMUFX	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	6.66%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	16.75%	-5.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	21.48%	-7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	20.64%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	20.21%	-3.57%

MMUFX vs. UTES - Expense Ratio Comparison

MMUFX has a 0.99% expense ratio, which is higher than UTES's 0.49% expense ratio.

Dividends

MMUFX vs. UTES - Dividend Comparison

MMUFX's dividend yield for the trailing twelve months is around 3.57%, more than UTES's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMUFX MFS Utilities Fund	3.57%	3.83%	3.72%	5.82%	8.68%	5.61%	5.80%	6.85%	4.29%	2.67%	3.72%	9.09%
UTES Virtus Reaves Utilities ETF	1.44%	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 MMUFX and UTES in my portfolio?

MMUFX and UTES have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMUFX or UTES?

UTES has higher volatility (6.66%) compared to MMUFX (5.00%). In terms of maximum drawdown, MMUFX dropped -56.03% vs UTES's -35.39%.

Which has better risk-adjusted returns?

MMUFX currently has the higher Sharpe Ratio (1.20 vs 0.54), 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.