UTES.TO vs. CDAY.NEO

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO).

UTES.TO and CDAY.NEO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTES.TO is an actively managed fund by Evolve. It was launched on Sep 3, 2024. CDAY.NEO is an actively managed fund by Hamilton Capital. It was launched on Jul 14, 2025.

Performance

UTES.TO vs. CDAY.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO). The values are adjusted to include any dividend payments, if applicable.

UTES.TO vs. CDAY.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	9.57%	6.79%
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF	3.53%	14.92%

Returns By Period

In the year-to-date period, UTES.TO achieves a 9.57% return, which is significantly higher than CDAY.NEO's 3.53% return.

UTES.TO

• 1D: -2.03%
• 1M: -0.62%
• YTD: 9.57%
• 6M: 8.75%
• 1Y: 21.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CDAY.NEO

• 1D: 0.00%
• 1M: -5.81%
• YTD: 3.53%
• 6M: 7.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTES.TO vs. CDAY.NEO - Expense Ratio Comparison

UTES.TO has a 0.60% expense ratio, which is lower than CDAY.NEO's 0.85% expense ratio.

CDAY.NEO

Hamilton Enhanced Canadian Equity DayMAX ETF

UTES.TO

Evolve Canadian Utilities Enhanced Yield Index Fund ETF

Return for Risk

UTES.TO vs. CDAY.NEO — Risk / Return Rank

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

UTES.TO

UTES.TO Risk / Return Rank: 89
UTES.TO Sharpe Ratio Rank: 90
UTES.TO Sortino Ratio Rank: 90
UTES.TO Omega Ratio Rank: 89
UTES.TO Calmar Ratio Rank: 86
UTES.TO Martin Ratio Rank: 88

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.

UTES.TO vs. CDAY.NEO - 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 Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY.NEO). 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	CDAY.NEO	Difference
Sharpe ratio Return per unit of total volatility	1.94	—	—
Sortino ratio Return per unit of downside risk	2.54	—	—
Omega ratio Gain probability vs. loss probability	1.36	—	—
Calmar ratio Return relative to maximum drawdown	2.59	—	—
Martin ratio Return relative to average drawdown	10.83	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UTES.TO	CDAY.NEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	2.11	-0.76

Correlation

The correlation between UTES.TO and CDAY.NEO is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UTES.TO vs. CDAY.NEO - Dividend Comparison

UTES.TO's dividend yield for the trailing twelve months is around 15.76%, more than CDAY.NEO's 11.51% yield.

	TTM	2025	2024
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	15.76%	18.30%	6.05%
CDAY.NEO Hamilton Enhanced Canadian Equity DayMAX ETF	11.51%	7.87%	0.00%

Drawdowns

UTES.TO vs. CDAY.NEO - Drawdown Comparison

The maximum UTES.TO drawdown since its inception was -10.19%, which is greater than CDAY.NEO's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for UTES.TO and CDAY.NEO.

Drawdown Indicators

	UTES.TO	CDAY.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-10.19%	-9.61%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	—	—
Current Drawdown Current decline from peak	-2.33%	-7.44%	+5.11%
Average Drawdown Average peak-to-trough decline	-2.64%	-1.19%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	—	—

Volatility

Volatility by Period

	UTES.TO	CDAY.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	13.26%	-2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	13.26%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.12%	13.26%	-2.14%