UTES.TO vs. UMVP.TO

Last updated Aug 5, 2026

UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund) and UMVP.TO (Hamilton Champions Utilities Index ETF) are both Utilities Equities funds - UTES.TO tracks the Solactive Canada Utility Index while UMVP.TO tracks the Solactive Canadian Utility Services High Dividend Index. Both are passively managed. Their correlation of 0.82 means they have usually moved in the same direction. UTES.TO charges 0.84%/yr vs 0.19%/yr for UMVP.TO.

Performance

UTES.TO vs. UMVP.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 Champions Utilities Index ETF (UMVP.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UTES.TO

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

UMVP.TO

• 1D: -1.29%
• 1M: 0.15%
• 6M: 8.05%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
UMVP.TO Hamilton Champions Utilities Index ETF	CA$80.39K	CA$55.77K	CA$51.00K
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	CA$3.53M	CA$2.89M	CA$2.74M

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

	2026 (YTD)
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	8.92%
UMVP.TO Hamilton Champions Utilities Index ETF	11.82%

Correlation

The correlation between UTES.TO and UMVP.TO is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 21, 2026	0.82

Return for Risk

UTES.TO vs. UMVP.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

UMVP.TO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. UMVP.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 Champions Utilities Index ETF (UMVP.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	UMVP.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.40	—	—
Sortino ratio: Return per unit of downside risk	2.01	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.37	—	—
Martin ratio: Return relative to average drawdown	6.71	—	—

Drawdowns

UTES.TO vs. UMVP.TO - Drawdown Comparison

The maximum UTES.TO drawdown since its inception was -10.19%, which is greater than UMVP.TO's maximum drawdown of -4.86%. Use the drawdown chart below to compare losses from any high point for UTES.TO and UMVP.TO.

Drawdown Indicators

	UTES.TO	UMVP.TO	Difference
Max Drawdown Largest peak-to-trough decline	-10.19%	-4.86%	-5.33%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	—	—
Current Drawdown Current decline from peak	-5.27%	-4.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-2.56%	-1.13%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	—	—

Volatility

Volatility by Period

	UTES.TO	UMVP.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	10.16%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.46%	10.16%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.46%	10.16%	+1.30%

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

UTES.TO has a 0.84% expense ratio, which is higher than UMVP.TO's 0.19% expense ratio.

Dividends

UTES.TO vs. UMVP.TO - Dividend Comparison

UTES.TO's dividend yield for the trailing twelve months is around 18.50%, more than UMVP.TO's 2.26% yield.

Position	TTM	2025	2024
UMVP.TO Hamilton Champions Utilities Index ETF	2.26%	0.00%	0.00%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund	18.50%	18.30%	6.05%

Frequently Asked Questions

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

UTES.TO and UMVP.TO have a correlation of 0.82, 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 UMVP.TO?

On fees, UMVP.TO is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

UMVP.TO is cheaper with a 0.19% expense ratio, compared with 0.84% for UTES.TO.

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

UTES.TO tracks Solactive Canada Utility Index, while UMVP.TO tracks Solactive Canadian Utility Services High Dividend Index. They also come from different issuers: Evolve and Hamilton. Their fees differ too: 0.84% for UTES.TO and 0.19% for UMVP.TO.