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

UTES.TO vs. XLU

Last updated Apr 1, 2026

Compare and contrast key facts about Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) and Utilities Select Sector SPDR Fund (XLU).

UTES.TO and XLU 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. XLU is a passively managed fund by State Street that tracks the performance of the Utilities Select Sector Index. It was launched on Dec 16, 1998.

Performance

UTES.TO vs. XLU - 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 Utilities Select Sector SPDR Fund (XLU). The values are adjusted to include any dividend payments, if applicable.

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UTES.TO vs. XLU - Yearly Performance Comparison

2026 (YTD)20252024
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF		9.57%18.66%-4.25%
XLU
Utilities Select Sector SPDR Fund		9.71%10.70%6.49%
Different Trading Currencies

UTES.TO is traded in CAD, while XLU is traded in USD. To make them comparable, the XLU values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with UTES.TO having a 9.57% return and XLU slightly higher at 9.71%.

UTES.TO

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

XLU

1D
-0.18%
1M
-1.27%
YTD
9.71%
6M
6.67%
1Y
15.72%
3Y*
15.21%
5Y*
13.11%
10Y*
10.47%
*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

Utilities Select Sector SPDR Fund

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 XLU:
XLU vs. VPUXLU vs. XLEXLU vs. XLPXLU vs. SPYXLU vs. FUTYXLU vs. UTESXLU vs. IDU

UTES.TO vs. XLU - Expense Ratio Comparison

UTES.TO has a 0.60% expense ratio, which is higher than XLU's 0.13% expense ratio.

UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF
XLU
Utilities Select Sector SPDR Fund

Return for Risk

UTES.TO vs. XLU — 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
XLU
XLU Risk / Return Rank: 7171
Overall Rank
XLU Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
XLU Sortino Ratio Rank: 7171
Sortino Ratio Rank
XLU Omega Ratio Rank: 6767
Omega Ratio Rank
XLU Calmar Ratio Rank: 8484
Calmar Ratio Rank
XLU Martin Ratio Rank: 6161
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. XLU - 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 Utilities Select Sector SPDR Fund (XLU). 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.TOXLUDifference

Sharpe ratio

Return per unit of total volatility

1.94

1.01

+0.93

Sortino ratio

Return per unit of downside risk

2.54

1.40

+1.14

Omega ratio

Gain probability vs. loss probability

1.36

1.19

+0.18

Calmar ratio

Return relative to maximum drawdown

2.59

1.71

+0.89

Martin ratio

Return relative to average drawdown

10.83

3.71

+7.12

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. XLU - Sharpe Ratio Comparison

The current UTES.TO Sharpe Ratio is 1.94, which is higher than the XLU Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of UTES.TO and XLU, 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.TOXLUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.94

1.01

+0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.82

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.57

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.36

0.75

+0.60

Correlation

The correlation between UTES.TO and XLU is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

UTES.TO vs. XLU - Dividend Comparison

UTES.TO's dividend yield for the trailing twelve months is around 15.76%, more than XLU's 2.59% 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%
XLU
Utilities Select Sector SPDR Fund		2.59%2.71%2.96%3.39%2.92%2.79%3.14%2.95%3.33%3.33%3.41%3.67%

Drawdowns

UTES.TO vs. XLU - Drawdown Comparison

The maximum UTES.TO drawdown since its inception was -10.19%, smaller than the maximum XLU drawdown of -30.12%. Use the drawdown chart below to compare losses from any high point for UTES.TO and XLU.

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Drawdown Indicators

UTES.TOXLUDifference

Max Drawdown

Largest peak-to-trough decline

-10.19%

-51.98%

+41.79%

Max Drawdown (1Y)

Largest decline over 1 year

-8.29%

-9.18%

+0.89%

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.26%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.07%

—

Current Drawdown

Current decline from peak

-2.33%

-3.18%

+0.85%

Average Drawdown

Average peak-to-trough decline

-2.64%

-10.26%

+7.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

3.82%

-1.81%

Volatility

UTES.TO vs. XLU - Volatility Comparison

The current volatility for Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) is 3.44%, while Utilities Select Sector SPDR Fund (XLU) has a volatility of 5.64%. This indicates that UTES.TO experiences smaller price fluctuations and is considered to be less risky than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UTES.TOXLUDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.44%

5.64%

-2.20%

Volatility (6M)

Calculated over the trailing 6-month period

6.98%

10.54%

-3.56%

Volatility (1Y)

Calculated over the trailing 1-year period

11.00%

15.68%

-4.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.12%

16.15%

-5.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.12%

18.54%

-7.42%