UTES vs. OOSP

Last updated Jun 13, 2026

UTES (Virtus Reaves Utilities ETF) and OOSP (Obra Opportunistic Structured Products ETF) are both exchange-traded funds - UTES is a Utilities Equities fund actively managed by Virtus Investment Partners, while OOSP is a Multisector Bonds fund actively managed by Obra. Both are actively managed. Over the past year, UTES returned 8.95% vs 6.13% for OOSP. At a correlation of -0.10, they often move in opposite directions. UTES charges 0.49%/yr vs 0.90%/yr for OOSP.

Performance

UTES vs. OOSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Reaves Utilities ETF (UTES) and Obra Opportunistic Structured Products ETF (OOSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTES achieves a 0.26% return, which is significantly lower than OOSP's 2.31% return.

UTES

• 1D: 1.56%
• 1M: -0.82%
• YTD: 0.26%
• 6M: 0.49%
• 1Y: 8.95%
• 3Y*: 22.00%
• 5Y*: 15.32%
• 10Y*: 12.27%

OOSP

• 1D: 0.00%
• 1M: 0.28%
• YTD: 2.31%
• 6M: 2.41%
• 1Y: 6.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTES vs. OOSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UTES Virtus Reaves Utilities ETF	0.26%	25.71%	32.77%
OOSP Obra Opportunistic Structured Products ETF	2.31%	7.41%	6.27%

Correlation

The correlation between UTES and OOSP is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	-0.10

Return for Risk

UTES vs. OOSP — Risk / Return Rank

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

UTES

UTES Risk / Return Rank: 16
UTES Sharpe Ratio Rank: 16
UTES Sortino Ratio Rank: 16
UTES Omega Ratio Rank: 15
UTES Calmar Ratio Rank: 18
UTES Martin Ratio Rank: 17

OOSP

OOSP Risk / Return Rank: 75
OOSP Sharpe Ratio Rank: 59
OOSP Sortino Ratio Rank: 62
OOSP Omega Ratio Rank: 71
OOSP Calmar Ratio Rank: 90
OOSP Martin Ratio Rank: 90

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. OOSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and Obra Opportunistic Structured Products ETF (OOSP). 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	OOSP	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.75	-1.36
Sortino ratio: Return per unit of downside risk	0.67	2.54	-1.87
Omega ratio: Gain probability vs. loss probability	1.08	1.37	-0.28
Calmar ratio: Return relative to maximum drawdown	0.60	4.89	-4.29
Martin ratio: Return relative to average drawdown	1.32	18.06	-16.73

UTES vs. OOSP - Sharpe Ratio Comparison

The current UTES Sharpe Ratio is 0.39, which is lower than the OOSP Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of UTES and OOSP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UTES vs. OOSP - Drawdown Comparison

The maximum UTES drawdown since its inception was -35.39%, which is greater than OOSP's maximum drawdown of -1.31%. Use the drawdown chart below to compare losses from any high point for UTES and OOSP.

Drawdown Indicators

	UTES	OOSP	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-1.31%	-34.08%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-1.31%	-12.57%
Max Drawdown (3Y) Largest decline over 3 years	-17.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	—	—
Current Drawdown Current decline from peak	-9.10%	-0.28%	-8.82%
Average Drawdown Average peak-to-trough decline	-5.53%	-0.20%	-5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.29%	0.35%	+5.94%

Volatility

UTES vs. OOSP - Volatility Comparison

Virtus Reaves Utilities ETF (UTES) has a higher volatility of 7.23% compared to Obra Opportunistic Structured Products ETF (OOSP) at 0.82%. This indicates that UTES's price experiences larger fluctuations and is considered to be riskier than OOSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTES	OOSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	0.82%	+6.41%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	2.17%	+14.88%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	3.67%	+17.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.62%	3.33%	+17.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	3.33%	+16.84%

UTES vs. OOSP - Expense Ratio Comparison

UTES has a 0.49% expense ratio, which is lower than OOSP's 0.90% expense ratio.

Dividends

UTES vs. OOSP - Dividend Comparison

UTES's dividend yield for the trailing twelve months is around 1.49%, less than OOSP's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OOSP Obra Opportunistic Structured Products ETF	6.48%	6.71%	5.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTES Virtus Reaves Utilities ETF	1.49%	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 OOSP in my portfolio?

UTES and OOSP have a correlation of -0.07, 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 OOSP?

UTES has higher volatility (7.23%) compared to OOSP (0.82%). In terms of maximum drawdown, UTES dropped -35.39% vs OOSP's -1.31%.

Which ETF is better, UTES or OOSP?

On 1-year performance, UTES leads with 8.95% vs 6.13% for OOSP. On fees, UTES is cheaper at 0.49% per year. On volatility, OOSP has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTES or OOSP?

Over the 1-year period, UTES has performed better with a 8.95% return vs 6.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTES or OOSP?

UTES is cheaper with a 0.49% expense ratio, compared with 0.90% for OOSP.

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

OOSP has the higher dividend yield at 6.48%, compared with 1.49% for UTES.

What is the main difference between UTES and OOSP?

UTES is categorized as Utilities Equities, while OOSP is Multisector Bonds. They also come from different issuers: Virtus Investment Partners and Obra. Their fees differ too: 0.49% for UTES and 0.90% for OOSP.

Which has better risk-adjusted returns?

OOSP currently has the higher Sharpe Ratio (1.75 vs 0.39), 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.