UTES.TO vs. DXQ.TO
UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) and DXQ.TO (Dynamic Active Enhanced Yield Covered Options ETF) are both Derivative Income funds. Both are actively managed. Over the past year, UTES.TO returned 27.78% vs 18.60% for DXQ.TO. At a correlation of -0.09, they often move in opposite directions. UTES.TO charges 0.60%/yr vs 0.72%/yr for DXQ.TO.
Performance
UTES.TO vs. DXQ.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 higher than DXQ.TO's 7.89% return.
UTES.TO
- 1D
- 1.58%
- 1M
- 0.00%
- YTD
- 14.78%
- 6M
- 16.79%
- 1Y
- 27.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DXQ.TO
- 1D
- 0.11%
- 1M
- 2.12%
- YTD
- 7.89%
- 6M
- 8.04%
- 1Y
- 18.60%
- 3Y*
- 17.60%
- 5Y*
- —
- 10Y*
- —
UTES.TO vs. DXQ.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 14.78% | 18.66% | -4.15% |
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.89% | 12.99% | 10.22% |
Correlation
The correlation between UTES.TO and DXQ.TO is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | -0.09 |
The correlation between UTES.TO and DXQ.TO shifts across timeframes, from -0.19 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UTES.TO vs. DXQ.TO — Risk / Return Rank
UTES.TO
DXQ.TO
UTES.TO vs. DXQ.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 Dynamic Active Enhanced Yield Covered Options ETF (DXQ.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 | DXQ.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.38 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 3.65 | +0.71 |
| Martin ratioReturn relative to average drawdown | 13.81 | 10.16 | +3.65 |
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Drawdowns
UTES.TO vs. DXQ.TO - Drawdown Comparison
The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum DXQ.TO drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for UTES.TO and DXQ.TO.
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Drawdown Indicators
| UTES.TO | DXQ.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -15.54% | +5.35% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -5.11% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.54% | — |
Current DrawdownCurrent decline from peak | -0.72% | -1.38% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -1.26% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.84% | +0.18% |
Volatility
UTES.TO vs. DXQ.TO - Volatility Comparison
Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) has a higher volatility of 3.58% compared to Dynamic Active Enhanced Yield Covered Options ETF (DXQ.TO) at 3.17%. This indicates that UTES.TO's price experiences larger fluctuations and is considered to be riskier than DXQ.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 | DXQ.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 3.17% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 7.54% | 7.56% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.60% | 9.36% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.08% | 10.93% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.08% | 10.93% | +0.15% |
UTES.TO vs. DXQ.TO - Expense Ratio Comparison
UTES.TO has a 0.60% expense ratio, which is lower than DXQ.TO's 0.72% expense ratio.
Dividends
UTES.TO vs. DXQ.TO - Dividend Comparison
UTES.TO's dividend yield for the trailing twelve months is around 17.14%, more than DXQ.TO's 7.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DXQ.TO Dynamic Active Enhanced Yield Covered Options ETF | 7.69% | 7.45% | 5.74% | 6.54% | 1.83% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.14% | 18.30% | 6.05% | 0.00% | 0.00% |
Frequently Asked Questions
UTES.TO and DXQ.TO have a correlation of -0.19, 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 0.72% for DXQ.TO.
They also come from different issuers: Evolve and Dynamic. Their fees differ too: 0.60% for UTES.TO and 0.72% for DXQ.TO.
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