XEQT.TO vs. UTES.TO

Last updated Jun 6, 2026

XEQT.TO (iShares Core Equity ETF Portfolio) and UTES.TO (Evolve Canadian Utilities Enhanced Yield Index Fund ETF) are both exchange-traded funds - XEQT.TO is a Global Equities fund actively managed by iShares, while UTES.TO is a Derivative Income fund actively managed by Evolve. Both are actively managed. At a correlation of -0.07, they often move in opposite directions. XEQT.TO charges 0.20%/yr vs 0.60%/yr for UTES.TO.

Performance

XEQT.TO vs. UTES.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Equity ETF Portfolio (XEQT.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

In the year-to-date period, XEQT.TO achieves a 10.25% return, which is significantly lower than UTES.TO's 13.71% return.

XEQT.TO

• 1D: -2.62%
• 1M: 1.43%
• YTD: 10.25%
• 6M: 9.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UTES.TO

• 1D: 1.00%
• 1M: 3.73%
• YTD: 13.71%
• 6M: 14.44%
• 1Y: 26.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
XEQT.TO iShares Core Equity ETF Portfolio	10.25%	14.62%
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	13.71%	11.70%

Correlation

The correlation between XEQT.TO and UTES.TO 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 (All Time) Calculated using the full available price history since Jun 9, 2025	-0.07

Return for Risk

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

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

UTES.TO

UTES.TO Risk / Return Rank: 82
UTES.TO Sharpe Ratio Rank: 86
UTES.TO Sortino Ratio Rank: 89
UTES.TO Omega Ratio Rank: 83
UTES.TO Calmar Ratio Rank: 80
UTES.TO Martin Ratio Rank: 70

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares Core Equity ETF Portfolio (XEQT.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XEQT.TO	UTES.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	1.44	+0.79

Drawdowns

XEQT.TO vs. UTES.TO - Drawdown Comparison

The maximum XEQT.TO drawdown since its inception was -8.25%, smaller than the maximum UTES.TO drawdown of -10.19%. Use the drawdown chart below to compare losses from any high point for XEQT.TO and UTES.TO.

Drawdown Indicators

	XEQT.TO	UTES.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.25%	-10.19%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.39%	—
Current Drawdown Current decline from peak	-2.62%	-0.88%	-1.74%
Average Drawdown Average peak-to-trough decline	-1.04%	-2.62%	+1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.01%	—

Volatility

Volatility by Period

	XEQT.TO	UTES.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	9.32%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.98%	11.02%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.98%	11.02%	+0.96%

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

XEQT.TO has a 0.20% expense ratio, which is lower than UTES.TO's 0.60% expense ratio.

Dividends

XEQT.TO vs. UTES.TO - Dividend Comparison

XEQT.TO's dividend yield for the trailing twelve months is around 1.51%, less than UTES.TO's 17.30% yield.

Position	TTM	2025	2024
UTES.TO Evolve Canadian Utilities Enhanced Yield Index Fund ETF	17.30%	18.30%	6.05%
XEQT.TO iShares Core Equity ETF Portfolio	1.51%	1.66%	0.00%

Frequently Asked Questions

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

XEQT.TO and UTES.TO 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 ETF is better, XEQT.TO or UTES.TO?

On fees, XEQT.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

XEQT.TO is cheaper with a 0.20% expense ratio, compared with 0.60% for UTES.TO.

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

XEQT.TO is categorized as Global Equities, while UTES.TO is Derivative Income. They also come from different issuers: iShares and Evolve. Their fees differ too: 0.20% for XEQT.TO and 0.60% for UTES.TO.