VPU vs. XUT.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Utilities ETF (VPU) and iShares S&P/TSX Capped Utilities Index ETF (XUT.TO).

VPU and XUT.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VPU is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Utilities 25/50 Index. It was launched on Jan 26, 2004. XUT.TO is a passively managed fund by iShares that tracks the performance of the Morningstar Gbl GR CAD. It was launched on Apr 12, 2011. Both VPU and XUT.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VPU vs. XUT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Utilities ETF (VPU) and iShares S&P/TSX Capped Utilities Index ETF (XUT.TO). The values are adjusted to include any dividend payments, if applicable.

VPU vs. XUT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPU Vanguard Utilities ETF	8.24%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%
XUT.TO iShares S&P/TSX Capped Utilities Index ETF	10.35%	20.07%	4.00%	1.69%	-17.07%	9.55%	16.75%	43.16%	-15.61%	17.55%

Different Trading Currencies

VPU is traded in USD, while XUT.TO is traded in CAD. To make them comparable, the XUT.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VPU achieves a 8.24% return, which is significantly lower than XUT.TO's 9.73% return. Over the past 10 years, VPU has outperformed XUT.TO with an annualized return of 9.67%, while XUT.TO has yielded a comparatively lower 7.98% annualized return.

VPU

• 1D: 0.42%
• 1M: -2.05%
• YTD: 8.24%
• 6M: 5.69%
• 1Y: 19.37%
• 3Y*: 13.96%
• 5Y*: 10.58%
• 10Y*: 9.67%

XUT.TO

• 1D: 0.00%
• 1M: -1.06%
• YTD: 9.73%
• 6M: 8.55%
• 1Y: 24.10%
• 3Y*: 9.29%
• 5Y*: 3.74%
• 10Y*: 7.98%

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

VPU vs. XUT.TO - Expense Ratio Comparison

VPU has a 0.10% expense ratio, which is lower than XUT.TO's 0.61% expense ratio.

XUT.TO

iShares S&P/TSX Capped Utilities Index ETF

VPU

Vanguard Utilities ETF

Return for Risk

VPU vs. XUT.TO — Risk / Return Rank

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

VPU

VPU Risk / Return Rank: 65
VPU Sharpe Ratio Rank: 69
VPU Sortino Ratio Rank: 65
VPU Omega Ratio Rank: 60
VPU Calmar Ratio Rank: 79
VPU Martin Ratio Rank: 52

XUT.TO

XUT.TO Risk / Return Rank: 88
XUT.TO Sharpe Ratio Rank: 92
XUT.TO Sortino Ratio Rank: 91
XUT.TO Omega Ratio Rank: 94
XUT.TO Calmar Ratio Rank: 88
XUT.TO Martin Ratio Rank: 73

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.

VPU vs. XUT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) and iShares S&P/TSX Capped Utilities Index ETF (XUT.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.

	VPU	XUT.TO	Difference
Sharpe ratio Return per unit of total volatility	1.25	2.10	-0.85
Sortino ratio Return per unit of downside risk	1.71	2.74	-1.04
Omega ratio Gain probability vs. loss probability	1.23	1.43	-0.20
Calmar ratio Return relative to maximum drawdown	2.22	3.50	-1.28
Martin ratio Return relative to average drawdown	5.27	11.34	-6.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPU vs. XUT.TO - Sharpe Ratio Comparison

The current VPU Sharpe Ratio is 1.25, which is lower than the XUT.TO Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of VPU and XUT.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VPU	XUT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.10	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.24	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.42	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.29	+0.26

Correlation

The correlation between VPU and XUT.TO is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VPU vs. XUT.TO - Dividend Comparison

VPU's dividend yield for the trailing twelve months is around 2.56%, less than XUT.TO's 3.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VPU Vanguard Utilities ETF	2.56%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%
XUT.TO iShares S&P/TSX Capped Utilities Index ETF	3.44%	3.79%	3.86%	3.76%	3.66%	2.89%	4.28%	3.38%	4.29%	3.39%	3.55%	3.84%

Drawdowns

VPU vs. XUT.TO - Drawdown Comparison

The maximum VPU drawdown since its inception was -46.31%, which is greater than XUT.TO's maximum drawdown of -43.14%. Use the drawdown chart below to compare losses from any high point for VPU and XUT.TO.

Drawdown Indicators

	VPU	XUT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-46.31%	-37.66%	-8.65%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-7.66%	-1.24%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-28.65%	+3.50%
Max Drawdown (10Y) Largest decline over 10 years	-36.42%	-37.66%	+1.24%
Current Drawdown Current decline from peak	-2.71%	0.00%	-2.71%
Average Drawdown Average peak-to-trough decline	-7.82%	-5.87%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.77%	+0.97%

Volatility

VPU vs. XUT.TO - Volatility Comparison

Vanguard Utilities ETF (VPU) has a higher volatility of 4.99% compared to iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) at 3.00%. This indicates that VPU's price experiences larger fluctuations and is considered to be riskier than XUT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPU	XUT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	3.00%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	7.50%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	11.57%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	15.50%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	19.02%	+0.05%