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XUT.TO vs. UTES.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XUT.TO vs. UTES.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO).

XUT.TO and UTES.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. UTES.TO is an actively managed fund by Evolve. It was launched on Sep 3, 2024.

Performance

XUT.TO vs. UTES.TO - Performance Comparison

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

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

2026 (YTD)20252024
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		11.15%14.58%3.88%
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF		9.57%18.66%-4.25%

Returns By Period

In the year-to-date period, XUT.TO achieves a 11.15% return, which is significantly higher than UTES.TO's 9.57% return.

XUT.TO

1D
0.54%
1M
0.47%
YTD
11.15%
6M
9.10%
1Y
21.57%
3Y*
10.32%
5Y*
5.89%
10Y*
8.71%

UTES.TO

1D
-2.03%
1M
-0.62%
YTD
9.57%
6M
8.75%
1Y
21.21%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P/TSX Capped Utilities Index ETF

Evolve Canadian Utilities Enhanced Yield Index Fund ETF

Often compared with XUT.TO:
XUT.TO vs. ZUT.TOXUT.TO vs. XEI.TOXUT.TO vs. XIU.TOXUT.TO vs. ZLB.TOXUT.TO vs. XLUXUT.TO vs. VPUXUT.TO vs. XDIV.TO
Often compared with UTES.TO:
UTES.TO vs. ENCL.TOUTES.TO vs. UMAX.TOUTES.TO vs. ZWU.TOUTES.TO vs. BANK.TOUTES.TO vs. UTIL.LUTES.TO vs. BMAX.TOUTES.TO vs. XEQT.TO

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

XUT.TO has a 0.61% expense ratio, which is higher than UTES.TO's 0.60% expense ratio.

XUT.TO
iShares S&P/TSX Capped Utilities Index ETF
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XUT.TO
XUT.TO Risk / Return Rank: 9090
Overall Rank
XUT.TO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
XUT.TO Sortino Ratio Rank: 9393
Sortino Ratio Rank
XUT.TO Omega Ratio Rank: 9595
Omega Ratio Rank
XUT.TO Calmar Ratio Rank: 9090
Calmar Ratio Rank
XUT.TO Martin Ratio Rank: 7979
Martin Ratio Rank
UTES.TO
UTES.TO Risk / Return Rank: 8989
Overall Rank
UTES.TO Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
UTES.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
UTES.TO Omega Ratio Rank: 8989
Omega Ratio Rank
UTES.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
UTES.TO Martin Ratio Rank: 8888
Martin Ratio Rank
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.

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

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

XUT.TOUTES.TODifference

Sharpe ratio

Return per unit of total volatility

2.18

1.94

+0.24

Sortino ratio

Return per unit of downside risk

2.76

2.54

+0.22

Omega ratio

Gain probability vs. loss probability

1.45

1.36

+0.08

Calmar ratio

Return relative to maximum drawdown

2.92

2.59

+0.33

Martin ratio

Return relative to average drawdown

8.08

10.83

-2.75

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XUT.TO Sharpe Ratio is 2.18, which is comparable to the UTES.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XUT.TO and UTES.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.

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Sharpe Ratios by Period

XUT.TOUTES.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.18

1.94

+0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

1.36

-0.84

Correlation

The correlation between XUT.TO and UTES.TO is 0.63, 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

XUT.TO vs. UTES.TO - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.45%, less than UTES.TO's 15.76% yield.

TTM20252024202320222021202020192018201720162015
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		3.45%3.79%3.86%3.76%3.66%2.89%4.28%3.38%4.29%3.39%3.55%3.84%
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fund ETF		15.76%18.30%6.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

XUT.TO vs. UTES.TO - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.66%, 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 XUT.TO and UTES.TO.

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Drawdown Indicators

XUT.TOUTES.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.66%

-10.19%

-27.47%

Max Drawdown (1Y)

Largest decline over 1 year

-7.66%

-8.29%

+0.63%

Max Drawdown (5Y)

Largest decline over 5 years

-28.65%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-37.66%

—

—

Current Drawdown

Current decline from peak

-0.19%

-2.33%

+2.14%

Average Drawdown

Average peak-to-trough decline

-5.87%

-2.64%

-3.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

2.01%

+0.76%

Volatility

XUT.TO vs. UTES.TO - Volatility Comparison

iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and Evolve Canadian Utilities Enhanced Yield Index Fund ETF (UTES.TO) have volatilities of 3.47% and 3.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUT.TOUTES.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

3.44%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

7.07%

6.98%

+0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

9.95%

11.00%

-1.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.69%

11.12%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.27%

11.12%

+5.15%