UTES.TO vs. HUTS.TO

Last updated Aug 5, 2026

UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund) and HUTS.TO (Hamilton Enhanced Utilities ETF) are both Utilities Equities funds - UTES.TO tracks the Solactive Canada Utility Index while HUTS.TO tracks the Solactive Canadian Utility Services High Dividend Index TR. Both are passively managed. Over the past year, UTES.TO returned 15.11% vs 24.80% for HUTS.TO. Their correlation of 0.86 means they have usually moved in the same direction. UTES.TO charges 0.84%/yr vs 2.06%/yr for HUTS.TO.

Performance

UTES.TO vs. HUTS.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, UTES.TO achieves a 9.53% return, which is significantly lower than HUTS.TO's 15.96% return.

UTES.TO

• 1D: -0.78%
• 1M: -0.62%
• 6M: 5.91%
• YTD: 9.53%
• 1Y: 15.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.16%

HUTS.TO

• 1D: -1.14%
• 1M: 0.67%
• 6M: 10.14%
• YTD: 15.96%
• 1Y: 24.80%
• 3Y*: 16.58%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HUTS.TO Hamilton Enhanced Utilities ETF	CA$273.34K	CA$215.70K	CA$190.49K
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	CA$3.53M	CA$2.89M	CA$2.74M

UTES.TO vs. HUTS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	9.53%	18.66%	-4.15%
HUTS.TO Hamilton Enhanced Utilities ETF	15.96%	21.29%	-1.09%

Correlation

The correlation between UTES.TO and HUTS.TO is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.86

The correlation between UTES.TO and HUTS.TO has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

UTES.TO vs. HUTS.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UTES.TO

UTES.TO Risk / Return Rank: 52
UTES.TO Sharpe Ratio Rank: 51
UTES.TO Sortino Ratio Rank: 51
UTES.TO Omega Ratio Rank: 48
UTES.TO Calmar Ratio Rank: 60
UTES.TO Martin Ratio Rank: 52

HUTS.TO

HUTS.TO Risk / Return Rank: 86
HUTS.TO Sharpe Ratio Rank: 89
HUTS.TO Sortino Ratio Rank: 88
HUTS.TO Omega Ratio Rank: 86
HUTS.TO Calmar Ratio Rank: 90
HUTS.TO Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UTES.TO vs. HUTS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO) and Hamilton Enhanced Utilities ETF (HUTS.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	HUTS.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.34	-0.93
Sortino ratio: Return per unit of downside risk	2.01	3.28	-1.27
Omega ratio: Gain probability vs. loss probability	1.25	1.41	-0.17
Calmar ratio: Return relative to maximum drawdown	2.37	4.24	-1.87
Martin ratio: Return relative to average drawdown	6.71	11.54	-4.82

UTES.TO vs. HUTS.TO - Sharpe Ratio Comparison

The current UTES.TO Sharpe Ratio is 1.40, which is lower than the HUTS.TO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of UTES.TO and HUTS.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UTES.TO vs. HUTS.TO - Drawdown Comparison

The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum HUTS.TO drawdown of -30.57%. Use the drawdown chart below to compare losses from any high point for UTES.TO and HUTS.TO.

Drawdown Indicators

	UTES.TO	HUTS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.19%	-30.57%	+20.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-5.87%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.20%	—
Current Drawdown Current decline from peak	-5.27%	-4.32%	-0.95%
Average Drawdown Average peak-to-trough decline	-2.56%	-9.73%	+7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.15%	+0.11%

Volatility

UTES.TO vs. HUTS.TO - Volatility Comparison

Evolve Canadian Utilities Enhanced Yield Index Fund (UTES.TO) has a higher volatility of 4.83% compared to Hamilton Enhanced Utilities ETF (HUTS.TO) at 4.45%. This indicates that UTES.TO's price experiences larger fluctuations and is considered to be riskier than HUTS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTES.TO	HUTS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.45%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	9.14%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	10.67%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.46%	14.98%	-3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.46%	14.98%	-3.52%

UTES.TO vs. HUTS.TO - Expense Ratio Comparison

UTES.TO has a 0.84% expense ratio, which is lower than HUTS.TO's 2.06% expense ratio.

Dividends

UTES.TO vs. HUTS.TO - Dividend Comparison

UTES.TO's dividend yield for the trailing twelve months is around 18.50%, more than HUTS.TO's 5.70% yield.

Position	TTM	2025	2024	2023	2022
HUTS.TO Hamilton Enhanced Utilities ETF	5.70%	6.45%	7.45%	7.83%	2.33%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	18.50%	18.30%	6.05%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UTES.TO and HUTS.TO in my portfolio?

UTES.TO and HUTS.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTES.TO or HUTS.TO?

On fees, UTES.TO is cheaper at 0.84% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTES.TO or HUTS.TO?

UTES.TO is cheaper with a 0.84% expense ratio, compared with 2.06% for HUTS.TO.

What is the main difference between UTES.TO and HUTS.TO?

UTES.TO tracks Solactive Canada Utility Index, while HUTS.TO tracks Solactive Canadian Utility Services High Dividend Index TR. They also come from different issuers: Evolve and Hamilton. Their fees differ too: 0.84% for UTES.TO and 2.06% for HUTS.TO.