VEQT.TO vs. UTES.TO

Last updated Jun 4, 2026

VEQT.TO (Vanguard All-Equity ETF Portfolio) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both exchange-traded funds - VEQT.TO is a Global Equities fund actively managed by Vanguard, while UTES.TO is a Derivative Income fund actively managed by Evolve. Both are actively managed. Over the past year, VEQT.TO returned 31.65% vs 23.90% for UTES.TO. At a 0.09 correlation, their price movements are largely independent. VEQT.TO charges 0.24%/yr vs 0.60%/yr for UTES.TO.

Performance

VEQT.TO vs. UTES.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard All-Equity ETF Portfolio (VEQT.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VEQT.TO having a 12.75% return and UTES.TO slightly lower at 12.58%.

VEQT.TO

• 1D: -0.54%
• 1M: 6.10%
• YTD: 12.75%
• 6M: 12.66%
• 1Y: 31.65%
• 3Y*: 22.37%
• 5Y*: 14.01%
• 10Y*: —

UTES.TO

• 1D: -0.26%
• 1M: 2.26%
• YTD: 12.58%
• 6M: 12.56%
• 1Y: 23.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VEQT.TO vs. UTES.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VEQT.TO Vanguard All-Equity ETF Portfolio	12.75%	20.37%	9.27%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	12.58%	18.66%	-4.25%

Correlation

The correlation between VEQT.TO and UTES.TO is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.09

The correlation between VEQT.TO and UTES.TO shifts across timeframes, from -0.08 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VEQT.TO vs. UTES.TO — Risk / Return Rank

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

VEQT.TO

VEQT.TO Risk / Return Rank: 81
VEQT.TO Sharpe Ratio Rank: 82
VEQT.TO Sortino Ratio Rank: 83
VEQT.TO Omega Ratio Rank: 82
VEQT.TO Calmar Ratio Rank: 76
VEQT.TO Martin Ratio Rank: 83

UTES.TO

UTES.TO Risk / Return Rank: 75
UTES.TO Sharpe Ratio Rank: 78
UTES.TO Sortino Ratio Rank: 83
UTES.TO Omega Ratio Rank: 76
UTES.TO Calmar Ratio Rank: 74
UTES.TO Martin Ratio Rank: 65

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.

VEQT.TO vs. UTES.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard All-Equity ETF Portfolio (VEQT.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO). 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.

	VEQT.TO	UTES.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.59	+0.15
Sortino ratio: Return per unit of downside risk	3.77	3.79	-0.01
Omega ratio: Gain probability vs. loss probability	1.51	1.46	+0.05
Calmar ratio: Return relative to maximum drawdown	3.95	3.75	+0.19
Martin ratio: Return relative to average drawdown	17.38	11.90	+5.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEQT.TO vs. UTES.TO - Sharpe Ratio Comparison

The current VEQT.TO Sharpe Ratio is 2.74, which is comparable to the UTES.TO Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of VEQT.TO and UTES.TO, 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

	VEQT.TO	UTES.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	2.59	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.09	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	1.38	-0.48

Drawdowns

VEQT.TO vs. UTES.TO - Drawdown Comparison

The maximum VEQT.TO drawdown since its inception was -30.45%, which is greater than UTES.TO's maximum drawdown of -10.19%. Use the drawdown chart below to compare losses from any high point for VEQT.TO and UTES.TO.

Drawdown Indicators

	VEQT.TO	UTES.TO	Difference
Max Drawdown Largest peak-to-trough decline	-30.45%	-10.19%	-20.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-6.39%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.32%	—	—
Current Drawdown Current decline from peak	-0.54%	-1.86%	+1.32%
Average Drawdown Average peak-to-trough decline	-3.71%	-2.62%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.03%	-0.20%

Volatility

VEQT.TO vs. UTES.TO - Volatility Comparison

Vanguard All-Equity ETF Portfolio (VEQT.TO) has a higher volatility of 3.68% compared to Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) at 2.96%. This indicates that VEQT.TO's price experiences larger fluctuations and is considered to be riskier than UTES.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEQT.TO	UTES.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.96%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	7.51%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	11.61%	9.28%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.90%	11.01%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.77%	11.01%	+4.76%

VEQT.TO vs. UTES.TO - Expense Ratio Comparison

VEQT.TO has a 0.24% expense ratio, which is lower than UTES.TO's 0.60% expense ratio.

Dividends

VEQT.TO vs. UTES.TO - Dividend Comparison

VEQT.TO's dividend yield for the trailing twelve months is around 1.26%, less than UTES.TO's 17.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	17.48%	18.30%	6.05%	0.00%	0.00%	0.00%	0.00%	0.00%
VEQT.TO Vanguard All-Equity ETF Portfolio	1.26%	1.42%	1.58%	1.88%	2.09%	1.40%	1.48%	1.42%

Frequently Asked Questions

Can I hold both VEQT.TO and UTES.TO in my portfolio?

VEQT.TO and UTES.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEQT.TO or UTES.TO?

On fees, VEQT.TO is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEQT.TO or UTES.TO?

VEQT.TO is cheaper with a 0.24% expense ratio, compared with 0.60% for UTES.TO.

What is the main difference between VEQT.TO and UTES.TO?

VEQT.TO is categorized as Global Equities, while UTES.TO is Derivative Income. They also come from different issuers: Vanguard and Evolve. Their fees differ too: 0.24% for VEQT.TO and 0.60% for UTES.TO.