UTES vs. VPC
UTES (Virtus Reaves Utilities ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - UTES is a Utilities Equities fund actively managed by Virtus, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. UTES is actively managed, while VPC is passively managed. Over the past 5 years, UTES returned 14.89%/yr vs 1.24%/yr for VPC. Their 0.30 correlation means their historical movements had little consistent relationship. UTES charges 0.49%/yr vs 0.75%/yr for VPC.
Performance
UTES vs. VPC - Performance Comparison
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Returns By Period
In the year-to-date period, UTES achieves a 0.36% return, which is significantly higher than VPC's -9.85% return.
UTES
- 1D
- 1.44%
- 1M
- -2.90%
- 6M
- 3.82%
- YTD
- 0.36%
- 1Y
- -2.59%
- 3Y*
- 22.82%
- 5Y*
- 14.89%
- 10Y*
- 12.14%
- ALL TIME*
- 13.64%
VPC
- 1D
- 1.90%
- 1M
- 0.33%
- 6M
- -7.94%
- YTD
- -9.85%
- 1Y
- -14.71%
- 3Y*
- -0.64%
- 5Y*
- 1.24%
- 10Y*
- —
- ALL TIME*
- 3.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.31M | $10.12M | $13.80M | |
| $172.51K | $168.73K | $168.71K |
UTES vs. VPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UTES Virtus Reaves Utilities ETF | 0.36% | 25.71% | 45.35% | -2.46% | 0.80% | 20.74% | -0.30% | 19.49% |
VPC Virtus Private Credit ETF | -9.85% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.25% |
Correlation
The correlation between UTES and VPC is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.30 |
Over the past year, the correlation between UTES and VPC has dropped to 0.02 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
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Return for Risk
UTES vs. VPC — Risk / Return Rank
UTES
VPC
UTES vs. VPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and Virtus Private Credit ETF (VPC). 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 | VPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.84 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | -0.69 | +0.50 |
| Martin ratioReturn relative to average drawdown | -0.39 | -1.17 | +0.79 |
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Drawdowns
UTES vs. VPC - Drawdown Comparison
The maximum UTES drawdown since its inception was -35.39%, smaller than the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for UTES and VPC.
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Drawdown Indicators
| UTES | VPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.39% | -53.45% | +18.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.88% | -21.55% | +7.67% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | -24.86% | +7.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.40% | -24.86% | +4.46% |
Max Drawdown (10Y)Largest decline over 10 years | -35.39% | — | — |
Current DrawdownCurrent decline from peak | -9.00% | -20.16% | +11.16% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -7.96% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.74% | 12.55% | -5.81% |
Volatility
UTES vs. VPC - Volatility Comparison
Virtus Reaves Utilities ETF (UTES) has a higher volatility of 5.50% compared to Virtus Private Credit ETF (VPC) at 3.95%. This indicates that UTES's price experiences larger fluctuations and is considered to be riskier than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTES | VPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 3.95% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 16.23% | 11.15% | +5.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.46% | 13.88% | +7.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.75% | 13.61% | +7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.27% | 20.43% | -0.16% |
UTES vs. VPC - Expense Ratio Comparison
UTES has a 0.49% expense ratio, which is lower than VPC's 0.75% expense ratio.
Dividends
UTES vs. VPC - Dividend Comparison
UTES's dividend yield for the trailing twelve months is around 1.51%, less than VPC's 16.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTES Virtus Reaves Utilities ETF | 1.51% | 1.42% | 1.51% | 2.44% | 2.13% | 1.94% | 2.09% | 1.84% | 2.09% | 3.44% | 3.53% | 0.61% |
VPC Virtus Private Credit ETF | 16.16% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTES and VPC have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTES has higher volatility (5.50%) compared to VPC (3.95%). In terms of maximum drawdown, UTES dropped -35.39% vs VPC's -53.45%.
On 5-year performance, UTES leads with 14.89% vs 1.24% for VPC. On fees, UTES is cheaper at 0.49% per year. On volatility, VPC has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UTES has performed better with a 14.89% return vs 1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTES is cheaper with a 0.49% expense ratio, compared with 0.75% for VPC.
VPC has the higher dividend yield at 16.16%, compared with 1.51% for UTES.
UTES is categorized as Utilities Equities, while VPC is Nontraditional Bonds. Their fees differ too: 0.49% for UTES and 0.75% for VPC.
UTES currently has the higher Sharpe Ratio (-0.12 vs -1.07), 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.
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