RCDC.TO vs. UTES.TO
RCDC.TO (RBC Canadian Dividend Covered Call ETF) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both Derivative Income funds. Both are actively managed. Over the past year, RCDC.TO returned 29.08% vs 23.90% for UTES.TO. At a 0.24 correlation, their price movements are largely independent. RCDC.TO charges 0.64%/yr vs 0.60%/yr for UTES.TO.
Performance
RCDC.TO vs. UTES.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RCDC.TO having a 12.49% return and UTES.TO slightly higher at 12.58%.
RCDC.TO
- 1D
- 0.08%
- 1M
- 4.61%
- YTD
- 12.49%
- 6M
- 14.54%
- 1Y
- 29.08%
- 3Y*
- 18.86%
- 5Y*
- —
- 10Y*
- —
UTES.TO
- 1D
- -0.26%
- 1M
- 2.26%
- YTD
- 12.58%
- 6M
- 12.56%
- 1Y
- 23.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RCDC.TO vs. UTES.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RCDC.TO RBC Canadian Dividend Covered Call ETF | 12.49% | 19.29% | 5.59% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.58% | 18.66% | -4.25% |
Correlation
The correlation between RCDC.TO and UTES.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.24 |
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Return for Risk
RCDC.TO vs. UTES.TO — Risk / Return Rank
RCDC.TO
UTES.TO
RCDC.TO vs. UTES.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RBC Canadian Dividend Covered Call ETF (RCDC.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.
| RCDC.TO | UTES.TO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.54 | 2.59 | +0.95 |
Sortino ratioReturn per unit of downside risk | 5.12 | 3.79 | +1.34 |
Omega ratioGain probability vs. loss probability | 1.67 | 1.46 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 5.38 | 3.75 | +1.62 |
Martin ratioReturn relative to average drawdown | 26.80 | 11.90 | +14.90 |
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
| RCDC.TO | UTES.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.54 | 2.59 | +0.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.50 | 1.38 | +0.12 |
Drawdowns
RCDC.TO vs. UTES.TO - Drawdown Comparison
The maximum RCDC.TO drawdown since its inception was -10.88%, 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 RCDC.TO and UTES.TO.
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Drawdown Indicators
| RCDC.TO | UTES.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.88% | -10.19% | -0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -6.39% | +0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -10.88% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.86% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -2.62% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 2.03% | -0.94% |
Volatility
RCDC.TO vs. UTES.TO - Volatility Comparison
The current volatility for RBC Canadian Dividend Covered Call ETF (RCDC.TO) is 2.49%, while Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) has a volatility of 2.96%. This indicates that RCDC.TO experiences smaller price fluctuations and is considered to be less risky 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
| RCDC.TO | UTES.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 2.96% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 6.71% | 7.51% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.25% | 9.28% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.15% | 11.01% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.15% | 11.01% | -0.86% |
RCDC.TO vs. UTES.TO - Expense Ratio Comparison
RCDC.TO has a 0.64% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.
Dividends
RCDC.TO vs. UTES.TO - Dividend Comparison
RCDC.TO's dividend yield for the trailing twelve months is around 6.33%, less than UTES.TO's 17.48% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
RCDC.TO RBC Canadian Dividend Covered Call ETF | 6.33% | 6.38% | 6.46% | 6.49% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.48% | 18.30% | 6.05% | 0.00% |
Frequently Asked Questions
RCDC.TO and UTES.TO have a correlation of 0.17, 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 0.64% for RCDC.TO.
They also come from different issuers: RBC and Evolve. Their fees differ too: 0.64% for RCDC.TO and 0.60% for UTES.TO.
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