UTES vs. VRAI

Last updated Jun 4, 2026

UTES (Virtus Reaves Utilities ETF) and VRAI (Virtus Real Asset Income ETF) are both exchange-traded funds - UTES is a Utilities Equities fund actively managed by Virtus Investment Partners, while VRAI is a REIT fund tracking the Indxx Real Asset Income Index. UTES is actively managed, while VRAI is passively managed. Over the past 5 years, UTES returned 15.66%/yr vs 5.40%/yr for VRAI. A 0.51 correlation means they provide meaningful diversification when combined. UTES charges 0.49%/yr vs 0.55%/yr for VRAI.

Performance

UTES vs. VRAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Reaves Utilities ETF (UTES) and Virtus Real Asset Income ETF (VRAI). 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 VRAI's 21.11% 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%

VRAI

• 1D: -0.11%
• 1M: -0.41%
• YTD: 21.11%
• 6M: 17.67%
• 1Y: 26.70%
• 3Y*: 11.98%
• 5Y*: 5.40%
• 10Y*: —

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

UTES vs. VRAI - 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%	19.03%
VRAI Virtus Real Asset Income ETF	21.11%	6.67%	2.66%	6.12%	-9.96%	24.35%	-5.94%	5.61%

Correlation

The correlation between UTES and VRAI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019	0.51

Over the past year, the correlation between UTES and VRAI has dropped to 0.24 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

UTES vs. VRAI - Sectors Allocation Comparison

Sectors	UTES	VRAI
Utilities	100.0%	18.0%
Basic Materials	-	7.7%
Communication Services	-	2.7%
Consumer Cyclical	-	-
Consumer Defensive	-	1.9%
Energy	-	32.4%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	33.6%
Technology	-	1.3%

Return for Risk

UTES vs. VRAI — 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

VRAI

VRAI Risk / Return Rank: 76
VRAI Sharpe Ratio Rank: 68
VRAI Sortino Ratio Rank: 70
VRAI Omega Ratio Rank: 65
VRAI Calmar Ratio Rank: 90
VRAI Martin Ratio Rank: 85

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. VRAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Reaves Utilities ETF (UTES) and Virtus Real Asset Income ETF (VRAI). 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	VRAI	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.27	-1.89
Sortino ratio: Return per unit of downside risk	0.64	3.22	-2.57
Omega ratio: Gain probability vs. loss probability	1.08	1.39	-0.31
Calmar ratio: Return relative to maximum drawdown	0.57	5.57	-5.00
Martin ratio: Return relative to average drawdown	1.30	17.57	-16.27
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. VRAI - Sharpe Ratio Comparison

The current UTES Sharpe Ratio is 0.37, which is lower than the VRAI Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of UTES and VRAI, 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	VRAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.27	-1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.33	+0.44
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	0.29	+0.41

Drawdowns

UTES vs. VRAI - Drawdown Comparison

The maximum UTES drawdown since its inception was -35.39%, smaller than the maximum VRAI drawdown of -47.51%. Use the drawdown chart below to compare losses from any high point for UTES and VRAI.

Drawdown Indicators

	UTES	VRAI	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-47.51%	+12.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-4.82%	-9.06%
Max Drawdown (3Y) Largest decline over 3 years	-17.62%	-16.89%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	-26.71%	+6.31%
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	—	—
Current Drawdown Current decline from peak	-9.26%	-1.02%	-8.24%
Average Drawdown Average peak-to-trough decline	-5.52%	-10.10%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.08%	1.53%	+4.55%

Volatility

UTES vs. VRAI - Volatility Comparison

Virtus Reaves Utilities ETF (UTES) has a higher volatility of 7.40% compared to Virtus Real Asset Income ETF (VRAI) at 3.50%. This indicates that UTES's price experiences larger fluctuations and is considered to be riskier than VRAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTES	VRAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	3.50%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	16.95%	8.45%	+8.50%
Volatility (1Y) Calculated over the trailing 1-year period	21.27%	11.86%	+9.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.60%	16.64%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	22.13%	-1.97%

UTES vs. VRAI - Expense Ratio Comparison

UTES has a 0.49% expense ratio, which is lower than VRAI's 0.55% expense ratio.

Dividends

UTES vs. VRAI - Dividend Comparison

UTES's dividend yield for the trailing twelve months is around 1.50%, less than VRAI's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VRAI Virtus Real Asset Income ETF	3.23%	4.68%	7.13%	5.02%	4.48%	3.34%	3.91%	2.80%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UTES and VRAI in my portfolio?

UTES and VRAI have a correlation of 0.24, 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 VRAI?

UTES has higher volatility (7.40%) compared to VRAI (3.50%). In terms of maximum drawdown, UTES dropped -35.39% vs VRAI's -47.51%.

Which ETF is better, UTES or VRAI?

On 5-year performance, UTES leads with 15.66% vs 5.40% for VRAI. On fees, UTES is cheaper at 0.49% per year. On volatility, VRAI has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTES or VRAI?

Over the 5-year period, UTES has performed better with a 15.66% return vs 5.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTES or VRAI?

UTES is cheaper with a 0.49% expense ratio, compared with 0.55% for VRAI.

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

VRAI has the higher dividend yield at 3.23%, compared with 1.50% for UTES.

What is the main difference between UTES and VRAI?

UTES is categorized as Utilities Equities, while VRAI is REIT. Their fees differ too: 0.49% for UTES and 0.55% for VRAI.

Which has better risk-adjusted returns?

VRAI currently has the higher Sharpe Ratio (2.27 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.