UTES.TO vs. QDAY.NEO
UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) and QDAY.NEO (Hamilton EnhancedTechnology DayMAX™ ETF) are both Derivative Income funds. Both are actively managed. Over the past year, UTES.TO returned 20.00% vs 48.25% for QDAY.NEO. At a correlation of -0.35, they often move in opposite directions. UTES.TO charges 0.60%/yr vs 0.85%/yr for QDAY.NEO.
Performance
UTES.TO vs. QDAY.NEO - Performance Comparison
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Returns By Period
In the year-to-date period, UTES.TO achieves a 12.01% return, which is significantly lower than QDAY.NEO's 29.09% return.
UTES.TO
- 1D
- -0.32%
- 1M
- -2.82%
- 6M
- 13.65%
- YTD
- 12.01%
- 1Y
- 20.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QDAY.NEO
- 1D
- 0.87%
- 1M
- 2.70%
- 6M
- 24.69%
- YTD
- 29.09%
- 1Y
- 48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTES.TO vs. QDAY.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 12.01% | 7.72% |
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 29.09% | 14.84% |
Correlation
The correlation between UTES.TO and QDAY.NEO is -0.35, 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 | -0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | -0.35 |
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Return for Risk
UTES.TO vs. QDAY.NEO — Risk / Return Rank
UTES.TO
QDAY.NEO
UTES.TO vs. QDAY.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 EnhancedTechnology DayMAX™ ETF (QDAY.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.
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 | QDAY.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 2.52 | +0.62 |
| Martin ratioReturn relative to average drawdown | 9.21 | 6.91 | +2.31 |
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Drawdowns
UTES.TO vs. QDAY.NEO - Drawdown Comparison
The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum QDAY.NEO drawdown of -19.44%. Use the drawdown chart below to compare losses from any high point for UTES.TO and QDAY.NEO.
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Drawdown Indicators
| UTES.TO | QDAY.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.19% | -19.44% | +9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -19.44% | +13.05% |
Current DrawdownCurrent decline from peak | -3.11% | -2.80% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -5.04% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | — | — |
Volatility
UTES.TO vs. QDAY.NEO - Volatility Comparison
The current volatility for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) is 4.69%, while Hamilton EnhancedTechnology DayMAX™ ETF (QDAY.NEO) has a volatility of 10.39%. This indicates that UTES.TO experiences smaller price fluctuations and is considered to be less risky than QDAY.NEO 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 | QDAY.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 10.39% | -5.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 20.33% | -12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.24% | 25.26% | -15.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.30% | 25.26% | -13.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.30% | 25.26% | -13.96% |
UTES.TO vs. QDAY.NEO - Expense Ratio Comparison
UTES.TO has a 0.60% expense ratio, which is lower than QDAY.NEO's 0.85% expense ratio.
Dividends
UTES.TO vs. QDAY.NEO - Dividend Comparison
UTES.TO's dividend yield for the trailing twelve months is around 17.83%, more than QDAY.NEO's 15.94% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QDAY.NEO Hamilton EnhancedTechnology DayMAX™ ETF | 15.94% | 8.78% | 0.00% |
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF | 17.83% | 18.30% | 6.05% |
Frequently Asked Questions
UTES.TO and QDAY.NEO have a correlation of -0.35, 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 0.85% for QDAY.NEO.
They also come from different issuers: Evolve and Hamilton Capital. Their fees differ too: 0.60% for UTES.TO and 0.85% for QDAY.NEO.
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