SOR vs. UTG

Last updated Jun 4, 2026

SOR (Source Capital, Inc.) and UTG (Reaves Utility Income Trust) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, SOR returned 9.41%/yr vs 10.70%/yr for UTG. At a 0.34 correlation, their price movements are largely independent.

Performance

SOR vs. UTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Source Capital, Inc. (SOR) and Reaves Utility Income Trust (UTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOR achieves a 1.32% return, which is significantly lower than UTG's 16.83% return. Over the past 10 years, SOR has underperformed UTG with an annualized return of 9.41%, while UTG has yielded a comparatively higher 10.70% annualized return.

SOR

• 1D: -1.11%
• 1M: -1.95%
• YTD: 1.32%
• 6M: -4.36%
• 1Y: 12.22%
• 3Y*: 15.42%
• 5Y*: 8.76%
• 10Y*: 9.41%

UTG

• 1D: -0.12%
• 1M: -2.28%
• YTD: 16.83%
• 6M: 14.83%
• 1Y: 27.73%
• 3Y*: 24.38%
• 5Y*: 11.47%
• 10Y*: 10.70%

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

SOR vs. UTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOR Source Capital, Inc.	1.32%	11.47%	21.28%	12.59%	-5.24%	20.66%	7.68%	22.20%	-10.41%	18.52%
UTG Reaves Utility Income Trust	16.83%	23.24%	28.10%	2.84%	-13.38%	14.26%	-5.25%	33.65%	1.84%	6.74%

Correlation

The correlation between SOR and UTG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 26, 2004	0.34

The correlation between SOR and UTG shifts across timeframes, from 0.25 (1 year) to 0.36 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap SOR : $373.27M UTG : $3.77B
EPS SOR : $10.16 UTG : $18.20
PE Ratio SOR : 4.46 UTG : 2.30
PEG Ratio SOR : 0.12 UTG : 0.01
PS Ratio SOR : 5.69 UTG : 7.17
PB Ratio SOR : 0.94 UTG : 1.07
Total Revenue (TTM) SOR : $65.62M UTG : $525.39M
Gross Profit (TTM) SOR : $70.52M UTG : $228.88M
EBITDA (TTM) SOR : $51.59M UTG : $1.71B

Return for Risk

SOR vs. UTG — Risk / Return Rank

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

SOR

SOR Risk / Return Rank: 65
SOR Sharpe Ratio Rank: 69
SOR Sortino Ratio Rank: 61
SOR Omega Ratio Rank: 61
SOR Calmar Ratio Rank: 66
SOR Martin Ratio Rank: 69

UTG

UTG Risk / Return Rank: 78
UTG Sharpe Ratio Rank: 84
UTG Sortino Ratio Rank: 77
UTG Omega Ratio Rank: 77
UTG Calmar Ratio Rank: 77
UTG Martin Ratio Rank: 76

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.

SOR vs. UTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Source Capital, Inc. (SOR) and Reaves Utility Income Trust (UTG). 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.

	SOR	UTG	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.67	-0.77
Sortino ratio: Return per unit of downside risk	1.31	2.16	-0.85
Omega ratio: Gain probability vs. loss probability	1.17	1.29	-0.11
Calmar ratio: Return relative to maximum drawdown	1.34	2.40	-1.07
Martin ratio: Return relative to average drawdown	3.67	5.36	-1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOR vs. UTG - Sharpe Ratio Comparison

The current SOR Sharpe Ratio is 0.90, which is lower than the UTG Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of SOR and UTG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOR	UTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.67	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.69	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.50	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.48	-0.01

Drawdowns

SOR vs. UTG - Drawdown Comparison

The maximum SOR drawdown since its inception was -65.51%, roughly equal to the maximum UTG drawdown of -67.77%. Use the drawdown chart below to compare losses from any high point for SOR and UTG.

Drawdown Indicators

	SOR	UTG	Difference
Max Drawdown Largest peak-to-trough decline	-65.51%	-67.77%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-11.59%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-9.18%	-15.03%	+5.85%
Max Drawdown (5Y) Largest decline over 5 years	-17.47%	-26.54%	+9.07%
Max Drawdown (10Y) Largest decline over 10 years	-39.13%	-47.91%	+8.78%
Current Drawdown Current decline from peak	-6.61%	-3.53%	-3.08%
Average Drawdown Average peak-to-trough decline	-8.43%	-8.74%	+0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	5.18%	-1.84%

Volatility

SOR vs. UTG - Volatility Comparison

The current volatility for Source Capital, Inc. (SOR) is 2.68%, while Reaves Utility Income Trust (UTG) has a volatility of 6.08%. This indicates that SOR experiences smaller price fluctuations and is considered to be less risky than UTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOR	UTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	6.08%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	12.74%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	16.65%	-2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	16.80%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	21.59%	-5.11%

Dividends

SOR vs. UTG - Dividend Comparison

SOR's dividend yield for the trailing twelve months is around 5.51%, less than UTG's 5.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOR Source Capital, Inc.	5.51%	5.46%	11.86%	7.22%	5.74%	11.09%	4.11%	2.58%	12.90%	4.24%	98.00%	6.04%
UTG Reaves Utility Income Trust	5.70%	6.42%	7.19%	8.53%	8.07%	6.35%	6.59%	5.69%	6.86%	6.21%	9.02%	6.86%

Financials

Frequently Asked Questions

Can I hold both SOR and UTG in my portfolio?

SOR and UTG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOR or UTG?

UTG has higher volatility (6.08%) compared to SOR (2.68%). In terms of maximum drawdown, SOR dropped -65.51% vs UTG's -67.77%.

Which has better risk-adjusted returns?

UTG currently has the higher Sharpe Ratio (1.67 vs 0.90), 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.