UTES vs. ECLN

Last updated Jun 4, 2026

UTES (Virtus Reaves Utilities ETF) and ECLN (First Trust EIP Carbon Impact ETF) are both Utilities Equities funds. Both are actively managed. Over the past 5 years, UTES returned 15.66%/yr vs 11.85%/yr for ECLN. Their correlation of 0.81 suggests significant overlap in exposure. UTES charges 0.49%/yr vs 0.97%/yr for ECLN.

Performance

UTES vs. ECLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Reaves Utilities ETF (UTES) and First Trust EIP Carbon Impact ETF (ECLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTES achieves a 0.08% return, which is significantly lower than ECLN's 12.15% return.

UTES

• 1D: -0.98%
• 1M: -6.58%
• YTD: 0.08%
• 6M: -1.81%
• 1Y: 7.86%
• 3Y*: 22.78%
• 5Y*: 15.66%
• 10Y*: 12.40%

ECLN

• 1D: -0.07%
• 1M: -2.95%
• YTD: 12.15%
• 6M: 10.16%
• 1Y: 19.15%
• 3Y*: 17.15%
• 5Y*: 11.85%
• 10Y*: —

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

UTES vs. ECLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UTES Virtus Reaves Utilities ETF	0.08%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	4.80%
ECLN First Trust EIP Carbon Impact ETF	12.15%	16.78%	22.60%	-3.36%	5.28%	12.26%	8.98%	5.66%

Correlation

The correlation between UTES and ECLN is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 21, 2019	0.81

The correlation between UTES and ECLN shifts across timeframes, from 0.68 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

UTES vs. ECLN - Sectors Allocation Comparison

Sectors	UTES	ECLN
Utilities	100.0%	76.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	16.3%
Financial Services	-	-
Healthcare	-	-
Industrials	-	6.8%
Real Estate	-	-
Technology	-	0.5%

Return for Risk

UTES vs. ECLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UTES

UTES Risk / Return Rank: 14
UTES Sharpe Ratio Rank: 14
UTES Sortino Ratio Rank: 14
UTES Omega Ratio Rank: 14
UTES Calmar Ratio Rank: 15
UTES Martin Ratio Rank: 15

ECLN

ECLN Risk / Return Rank: 59
ECLN Sharpe Ratio Rank: 53
ECLN Sortino Ratio Rank: 56
ECLN Omega Ratio Rank: 50
ECLN Calmar Ratio Rank: 76
ECLN Martin Ratio Rank: 59

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 vs. ECLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and First Trust EIP Carbon Impact ETF (ECLN). 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	ECLN	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.83	-1.46
Sortino ratio: Return per unit of downside risk	0.64	2.68	-2.04
Omega ratio: Gain probability vs. loss probability	1.08	1.32	-0.24
Calmar ratio: Return relative to maximum drawdown	0.57	3.83	-3.26
Martin ratio: Return relative to average drawdown	1.30	10.36	-9.06
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 vs. ECLN - Sharpe Ratio Comparison

The current UTES Sharpe Ratio is 0.37, which is lower than the ECLN Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of UTES and ECLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTES	ECLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	1.83	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.84	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.67	+0.03

Drawdowns

UTES vs. ECLN - Drawdown Comparison

The maximum UTES drawdown since its inception was -35.39%, which is greater than ECLN's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for UTES and ECLN.

Drawdown Indicators

	UTES	ECLN	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-32.28%	-3.11%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-5.02%	-8.86%
Max Drawdown (3Y) Largest decline over 3 years	-17.62%	-14.68%	-2.94%
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	-19.88%	-0.52%
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	—	—
Current Drawdown Current decline from peak	-9.26%	-3.65%	-5.61%
Average Drawdown Average peak-to-trough decline	-5.52%	-4.99%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.08%	1.86%	+4.22%

Volatility

UTES vs. ECLN - Volatility Comparison

Virtus Reaves Utilities ETF (UTES) has a higher volatility of 7.40% compared to First Trust EIP Carbon Impact ETF (ECLN) at 3.85%. This indicates that UTES's price experiences larger fluctuations and is considered to be riskier than ECLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTES	ECLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	3.85%	+3.55%
Volatility (6M) Calculated over the trailing 6-month period	16.95%	8.15%	+8.80%
Volatility (1Y) Calculated over the trailing 1-year period	21.27%	10.51%	+10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	14.22%	+6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	17.41%	+2.75%

UTES vs. ECLN - Expense Ratio Comparison

UTES has a 0.49% expense ratio, which is lower than ECLN's 0.97% expense ratio.

Dividends

UTES vs. ECLN - Dividend Comparison

UTES's dividend yield for the trailing twelve months is around 1.50%, less than ECLN's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECLN First Trust EIP Carbon Impact ETF	1.83%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%	0.00%	0.00%	0.00%	0.00%
UTES Virtus Reaves Utilities ETF	1.50%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both UTES and ECLN in my portfolio?

UTES and ECLN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTES or ECLN?

UTES has higher volatility (7.40%) compared to ECLN (3.85%). In terms of maximum drawdown, UTES dropped -35.39% vs ECLN's -32.28%.

Which ETF is better, UTES or ECLN?

On 5-year performance, UTES leads with 15.66% vs 11.85% for ECLN. On fees, UTES is cheaper at 0.49% per year. On volatility, ECLN has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTES or ECLN?

Over the 5-year period, UTES has performed better with a 15.66% return vs 11.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTES or ECLN?

UTES is cheaper with a 0.49% expense ratio, compared with 0.97% for ECLN.

Which ETF pays a higher dividend yield, UTES or ECLN?

ECLN has the higher dividend yield at 1.83%, compared with 1.50% for UTES.

What is the main difference between UTES and ECLN?

They also come from different issuers: Virtus Investment Partners and First Trust. Their fees differ too: 0.49% for UTES and 0.97% for ECLN.

Which has better risk-adjusted returns?

ECLN currently has the higher Sharpe Ratio (1.83 vs 0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.