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

XUT.TO vs. ZUT.TO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) and BMO Equal Weight Utilities Index ETF (ZUT.TO).

XUT.TO and ZUT.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. ZUT.TO is a passively managed fund by BMO that tracks the performance of the Solactive Equal Weight Canada Utilities Index. It was launched on Jan 19, 2010. Both XUT.TO and ZUT.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

XUT.TO vs. ZUT.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 BMO Equal Weight Utilities Index ETF (ZUT.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020201920182017
XUT.TO
iShares S&P/TSX Capped Utilities Index ETF		11.15%14.58%12.92%-0.58%-11.12%8.75%14.46%36.35%-8.50%9.96%
ZUT.TO
BMO Equal Weight Utilities Index ETF		15.64%15.25%14.13%-5.37%-8.69%5.45%28.15%35.59%-8.02%8.46%

Returns By Period

In the year-to-date period, XUT.TO achieves a 11.15% return, which is significantly lower than ZUT.TO's 15.64% return. Over the past 10 years, XUT.TO has underperformed ZUT.TO with an annualized return of 8.71%, while ZUT.TO has yielded a comparatively higher 10.41% annualized 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%

ZUT.TO

1D
0.73%
1M
3.27%
YTD
15.64%
6M
14.44%
1Y
28.59%
3Y*
11.46%
5Y*
6.39%
10Y*
10.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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iShares S&P/TSX Capped Utilities Index ETF

BMO Equal Weight Utilities Index ETF

Often compared with XUT.TO:
XUT.TO vs. XEI.TOXUT.TO vs. XIU.TOXUT.TO vs. ZLB.TOXUT.TO vs. XLUXUT.TO vs. VPUXUT.TO vs. UTES.TOXUT.TO vs. XDIV.TO
Often compared with ZUT.TO:
ZUT.TO vs. ZWU.TOZUT.TO vs. ZLB.TOZUT.TO vs. VDY.TOZUT.TO vs. XMA.TOZUT.TO vs. XDIV.TOZUT.TO vs. ZWC.TOZUT.TO vs. VGRO.TO

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

Both XUT.TO and ZUT.TO have an expense ratio of 0.61%.

XUT.TO
iShares S&P/TSX Capped Utilities Index ETF
ZUT.TO
BMO Equal Weight Utilities Index ETF

Return for Risk

XUT.TO vs. ZUT.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
ZUT.TO
ZUT.TO Risk / Return Rank: 9292
Overall Rank
ZUT.TO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
ZUT.TO Sortino Ratio Rank: 9696
Sortino Ratio Rank
ZUT.TO Omega Ratio Rank: 9696
Omega Ratio Rank
ZUT.TO Calmar Ratio Rank: 9292
Calmar Ratio Rank
ZUT.TO Martin Ratio Rank: 7979
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. ZUT.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 BMO Equal Weight Utilities Index ETF (ZUT.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.TOZUT.TODifference

Sharpe ratio

Return per unit of total volatility

2.18

2.43

-0.25

Sortino ratio

Return per unit of downside risk

2.76

3.13

-0.37

Omega ratio

Gain probability vs. loss probability

1.45

1.49

-0.04

Calmar ratio

Return relative to maximum drawdown

2.92

3.23

-0.31

Martin ratio

Return relative to average drawdown

8.08

8.12

-0.04

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. ZUT.TO - Sharpe Ratio Comparison

The current XUT.TO Sharpe Ratio is 2.18, which is comparable to the ZUT.TO Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of XUT.TO and ZUT.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.TOZUT.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.18

2.43

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.46

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.63

-0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.57

-0.05

Correlation

The correlation between XUT.TO and ZUT.TO is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XUT.TO vs. ZUT.TO - Dividend Comparison

XUT.TO's dividend yield for the trailing twelve months is around 3.45%, more than ZUT.TO's 2.92% 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%
ZUT.TO
BMO Equal Weight Utilities Index ETF		2.92%3.44%3.98%4.35%3.95%3.25%3.31%4.00%4.59%3.71%3.98%4.63%

Drawdowns

XUT.TO vs. ZUT.TO - Drawdown Comparison

The maximum XUT.TO drawdown since its inception was -37.66%, roughly equal to the maximum ZUT.TO drawdown of -37.08%. Use the drawdown chart below to compare losses from any high point for XUT.TO and ZUT.TO.

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Drawdown Indicators

XUT.TOZUT.TODifference

Max Drawdown

Largest peak-to-trough decline

-37.66%

-37.08%

-0.58%

Max Drawdown (1Y)

Largest decline over 1 year

-7.66%

-8.96%

+1.30%

Max Drawdown (5Y)

Largest decline over 5 years

-28.65%

-32.42%

+3.77%

Max Drawdown (10Y)

Largest decline over 10 years

-37.66%

-37.08%

-0.58%

Current Drawdown

Current decline from peak

-0.19%

0.00%

-0.19%

Average Drawdown

Average peak-to-trough decline

-5.87%

-6.37%

+0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

3.56%

-0.79%

Volatility

XUT.TO vs. ZUT.TO - Volatility Comparison

The current volatility for iShares S&P/TSX Capped Utilities Index ETF (XUT.TO) is 3.47%, while BMO Equal Weight Utilities Index ETF (ZUT.TO) has a volatility of 4.76%. This indicates that XUT.TO experiences smaller price fluctuations and is considered to be less risky than ZUT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XUT.TOZUT.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

4.76%

-1.29%

Volatility (6M)

Calculated over the trailing 6-month period

7.07%

8.47%

-1.40%

Volatility (1Y)

Calculated over the trailing 1-year period

9.95%

11.83%

-1.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.69%

13.91%

-1.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.27%

16.48%

-0.21%