UTES.TO vs. BASE.TO
UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) and BASE.TO (Evolve Global Materials & Mining Enhanced Yield Index ETF) are both exchange-traded funds - UTES.TO is a Derivative Income fund actively managed by Evolve, while BASE.TO is a Materials fund tracking the Solactive Materials & Mining. UTES.TO is actively managed, while BASE.TO is passively managed. Over the past year, UTES.TO returned 27.78% vs 47.44% for BASE.TO. At a 0.05 correlation, their price movements are largely independent. UTES.TO charges 0.60%/yr vs 0.00%/yr for BASE.TO.
Performance
UTES.TO vs. BASE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, UTES.TO achieves a 14.78% return, which is significantly lower than BASE.TO's 20.51% return.
UTES.TO
- 1D
- 1.58%
- 1M
- 0.00%
- YTD
- 14.78%
- 6M
- 16.79%
- 1Y
- 27.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BASE.TO
- 1D
- -2.79%
- 1M
- -3.61%
- YTD
- 20.51%
- 6M
- 17.54%
- 1Y
- 47.44%
- 3Y*
- 15.57%
- 5Y*
- 8.84%
- 10Y*
- —
UTES.TO vs. BASE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 14.78% | 18.66% | -4.15% |
BASE.TO Evolve Global Materials & Mining Enhanced Yield Index ETF | 20.51% | 30.33% | -7.42% |
Correlation
The correlation between UTES.TO and BASE.TO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | 0.05 |
The correlation between UTES.TO and BASE.TO shifts across timeframes, from -0.06 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UTES.TO vs. BASE.TO — Risk / Return Rank
UTES.TO
BASE.TO
UTES.TO vs. BASE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.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.
| UTES.TO | BASE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.34 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 3.04 | +1.32 |
| Martin ratioReturn relative to average drawdown | 13.81 | 12.44 | +1.37 |
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Drawdowns
UTES.TO vs. BASE.TO - Drawdown Comparison
The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum BASE.TO drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for UTES.TO and BASE.TO.
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Drawdown Indicators
| UTES.TO | BASE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -33.43% | +23.24% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -15.68% | +9.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.11% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.43% | — |
Current DrawdownCurrent decline from peak | -0.72% | -8.03% | +7.31% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -9.26% | +6.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 3.82% | -1.80% |
Volatility
UTES.TO vs. BASE.TO - Volatility Comparison
The current volatility for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) is 3.58%, while Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE.TO) has a volatility of 7.88%. This indicates that UTES.TO experiences smaller price fluctuations and is considered to be less risky than BASE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTES.TO | BASE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 7.88% | -4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.54% | 18.86% | -11.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.60% | 23.41% | -13.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 23.10% | -12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.08% | 26.40% | -15.32% |
UTES.TO vs. BASE.TO - Expense Ratio Comparison
UTES.TO has a 0.60% expense ratio, which is higher than BASE.TO's 0.00% expense ratio.
Dividends
UTES.TO vs. BASE.TO - Dividend Comparison
UTES.TO's dividend yield for the trailing twelve months is around 17.14%, more than BASE.TO's 8.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BASE.TO Evolve Global Materials & Mining Enhanced Yield Index ETF | 8.45% | 9.55% | 11.20% | 8.80% | 8.96% | 5.95% | 4.67% | 2.88% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.14% | 18.30% | 6.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTES.TO and BASE.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BASE.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BASE.TO is cheaper with a 0.00% expense ratio, compared with 0.60% for UTES.TO.
UTES.TO is categorized as Derivative Income, while BASE.TO is Materials. Their fees differ too: 0.60% for UTES.TO and 0.00% for BASE.TO.
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