UTES.TO vs. CBNK.TO
UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, UTES.TO returned 23.90% vs 79.20% for CBNK.TO. At a 0.14 correlation, their price movements are largely independent.
Performance
UTES.TO vs. CBNK.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UTES.TO achieves a 12.58% return, which is significantly lower than CBNK.TO's 25.56% return.
UTES.TO
- 1D
- -0.26%
- 1M
- 2.26%
- YTD
- 12.58%
- 6M
- 12.56%
- 1Y
- 23.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBNK.TO
- 1D
- 0.42%
- 1M
- 7.74%
- YTD
- 25.56%
- 6M
- 32.17%
- 1Y
- 79.20%
- 3Y*
- 38.97%
- 5Y*
- —
- 10Y*
- —
UTES.TO vs. CBNK.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.58% | 18.66% | -4.25% |
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 25.56% | 51.67% | 13.28% |
Correlation
The correlation between UTES.TO and CBNK.TO is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.14 |
The correlation between UTES.TO and CBNK.TO shifts across timeframes, from -0.02 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UTES.TO vs. CBNK.TO — Risk / Return Rank
UTES.TO
CBNK.TO
UTES.TO vs. CBNK.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 Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.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.
| UTES.TO | CBNK.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.87 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 7.94 | -4.18 |
| Martin ratioReturn relative to average drawdown | 11.90 | 34.25 | -22.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| UTES.TO | CBNK.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.59 | 5.12 | -2.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.38 | 1.10 | +0.29 |
Drawdowns
UTES.TO vs. CBNK.TO - Drawdown Comparison
The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for UTES.TO and CBNK.TO.
Loading charts...
Drawdown Indicators
| UTES.TO | CBNK.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -32.12% | +21.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -10.03% | +3.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.92% | — |
Current DrawdownCurrent decline from peak | -1.86% | -2.29% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -10.92% | +8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.32% | -0.29% |
Volatility
UTES.TO vs. CBNK.TO - Volatility Comparison
The current volatility for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) is 2.96%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 5.67%. This indicates that UTES.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UTES.TO | CBNK.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 5.67% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.51% | 13.29% | -5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 15.55% | -6.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 17.55% | -6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.01% | 17.55% | -6.54% |
Dividends
UTES.TO vs. CBNK.TO - Dividend Comparison
UTES.TO's dividend yield for the trailing twelve months is around 17.48%, more than CBNK.TO's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF | 5.94% | 5.86% | 8.25% | 9.59% | 7.85% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.48% | 18.30% | 6.05% | 0.00% | 0.00% |
Frequently Asked Questions
UTES.TO and CBNK.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Evolve and Mulvihill.
Find the right allocation for UTES.TO and CBNK.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer