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UTES.TO vs. VDY.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

UTES.TO vs. VDY.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO).

UTES.TO and VDY.TO 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. VDY.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Canada High Dividend Yield Index. It was launched on Nov 2, 2012.

Performance

UTES.TO vs. VDY.TO - 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 Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)20252024
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF		9.57%18.66%-4.25%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		9.07%29.20%6.29%

Returns By Period

In the year-to-date period, UTES.TO achieves a 9.57% return, which is significantly higher than VDY.TO's 9.07% return.

UTES.TO

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

VDY.TO

1D
1.12%
1M
0.19%
YTD
9.07%
6M
16.25%
1Y
39.26%
3Y*
22.01%
5Y*
16.73%
10Y*
13.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Evolve Canadian Utilities Enhanced Yield Index Fund ETF

Vanguard FTSE Canadian High Dividend Yield Index ETF

Often compared with UTES.TO:
UTES.TO vs. ENCL.TOUTES.TO vs. XUT.TOUTES.TO vs. UMAX.TOUTES.TO vs. ZWU.TOUTES.TO vs. BANK.TOUTES.TO vs. UTIL.LUTES.TO vs. BMAX.TO
Often compared with VDY.TO:
VDY.TO vs. XEI.TOVDY.TO vs. XDIV.TOVDY.TO vs. VCN.TOVDY.TO vs. SCHDVDY.TO vs. XIC.TOVDY.TO vs. VCE.TOVDY.TO vs. ZDV.TO

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

UTES.TO has a 0.60% expense ratio, which is higher than VDY.TO's 0.22% expense ratio.

UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF

Return for Risk

UTES.TO vs. VDY.TO — 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: 8989
Overall Rank
UTES.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
UTES.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
UTES.TO Omega Ratio Rank: 8989
Omega Ratio Rank
UTES.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
UTES.TO Martin Ratio Rank: 8888
Martin Ratio Rank
VDY.TO
VDY.TO Risk / Return Rank: 9797
Overall Rank
VDY.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VDY.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
VDY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
VDY.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
VDY.TO Martin Ratio Rank: 9898
Martin Ratio Rank
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. VDY.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 Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.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.

UTES.TOVDY.TODifference

Sharpe ratio

Return per unit of total volatility

1.94

3.58

-1.64

Sortino ratio

Return per unit of downside risk

2.54

4.31

-1.77

Omega ratio

Gain probability vs. loss probability

1.36

1.77

-0.41

Calmar ratio

Return relative to maximum drawdown

2.59

4.00

-1.41

Martin ratio

Return relative to average drawdown

10.83

22.92

-12.09

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current UTES.TO Sharpe Ratio is 1.94, which is lower than the VDY.TO Sharpe Ratio of 3.58. The chart below compares the historical Sharpe Ratios of UTES.TO and VDY.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

UTES.TOVDY.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.94

3.58

-1.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.47

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.85

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.36

0.80

+0.56

Correlation

The correlation between UTES.TO and VDY.TO is 0.36, 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. VDY.TO - Dividend Comparison

UTES.TO's dividend yield for the trailing twelve months is around 15.76%, more than VDY.TO's 3.51% yield.

TTM20252024202320222021202020192018201720162015
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF		15.76%18.30%6.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index ETF		3.51%3.59%4.40%4.64%4.42%3.58%4.59%4.25%4.43%3.82%3.25%4.11%

Drawdowns

UTES.TO vs. VDY.TO - Drawdown Comparison

The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum VDY.TO drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for UTES.TO and VDY.TO.

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Drawdown Indicators

UTES.TOVDY.TODifference

Max Drawdown

Largest peak-to-trough decline

-10.19%

-39.21%

+29.02%

Max Drawdown (1Y)

Largest decline over 1 year

-8.29%

-10.07%

+1.78%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.18%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.21%

—

Current Drawdown

Current decline from peak

-2.33%

-0.55%

-1.78%

Average Drawdown

Average peak-to-trough decline

-2.64%

-4.67%

+2.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

1.76%

+0.25%

Volatility

UTES.TO vs. VDY.TO - Volatility Comparison

Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY.TO) have volatilities of 3.44% and 3.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UTES.TOVDY.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.44%

3.37%

+0.07%

Volatility (6M)

Calculated over the trailing 6-month period

6.98%

6.43%

+0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

11.00%

11.03%

-0.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.12%

11.49%

-0.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.12%

15.96%

-4.84%