VS
Evolve Canadian Utilities Enhanced Yield Index Fund (UTES) and Vanguard FTSE Canadian High Dividend Yield Index ETF (VDY) offer distinct profiles for Canadian ETF investors. A direct comparison shows that UTES focuses its top 3 sector exposures on Utilities, Energy, and Communication Services, while VDY leans towards Financials, Energy, and Utilities. When evaluating costs, UTES features a management fee (MER) of 0.6%, compared to 0.2% for VDY. Performance-wise, UTES has returned 15.12% year-to-date with +$107 M in net flows, whereas VDY is at 23.86% with +$1 B. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
UTES
VDY
| AuM | $382.58 M | $8,413.05 M |
| Management Fees | 0.60% | 0.20% |
| Exp. ratio | 0.84% | 0.22% |
| Tracking Difference | - | -0.03% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UTES | +4.46% | +4.94% | +15.12% | +26.67% | - |
VDY | +5.91% | +15.60% | +23.86% | +51.82% | +115.63% | |
| Flows | UTES | +$20 M | +$69 M | +$107 M | +$258 M | - |
VDY | +$316 M | +$850 M | +$1,443 M | +$2,337 M | +$3,421 M |
UTES vs VDY exposure
Countries
UTES
Canada
100.40%
VDY
Canada
99.63%
Sectors
UTES
Utilities
42.59%
Energy
30.89%
Communication Services
26.92%
VDY
Financials
54.77%
Energy
29.54%
Other
15.68%
As of June 11, 2026
Top 10 Holdings
UTES
ALTAGAS
11.67%
HYDRO ONE
10.42%
ENBRIDGE
10.37%
TC ENERGY CORP
10.36%
EMERA
10.32%
FORTIS
10.19%
PEMBINA PIPELINE
10.16%
ROGERS COMMUNICATIONS
9.70%
BCE
8.80%
TELUS
8.42%
VDY
ROYAL BK CANADA
14.42%
TORONTO DOMINION
10.36%
ENBRIDGE
6.92%
BANK OF MONTREAL
6.18%
CDN IMPERIAL BK
6.00%
CDN NATURAL RESOURCE
5.58%
BNS
5.56%
SUNCOR ENERGY
4.72%
TC ENERGY CORP
3.99%
MANULIFE-S
3.78%
Diversification
UTES
Total weight of top 10 holdings out of 10 total
100.40%
VDY
Total weight of top 10 holdings out of 61 total
67.51%
Characteristics
Compare
UTES
VDY
| Provider | Evolve ETFs | Vanguard |
| Management | Actively managed | Passively managed |
| Benchmark | - | FTSE Canada High Dividend Yield Net Tax Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 15.67% | 3.03% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2024 | November 2, 2012 |
Frequently asked questions about UTES and VDY
Which ETF has performed better year to date: UTES or VDY?
As of June 11, 2026, UTES has returned 15.12% year to date, while VDY has returned 23.86%. VDY is ahead on YTD performance.
Which ETF is larger by assets under management: UTES or VDY?
As of June 11, 2026, UTES manages $382.58 M in assets, while VDY manages $8.41 B. VDY is the larger fund by AUM.
How are UTES and VDY managed?
UTES is actively managed by Evolve ETFs. It does not track an index. VDY is passively managed by Vanguard. It tracks the FTSE Canada High Dividend Yield Net Tax Index - CAD benchmark.
What sectors do UTES and VDY emphasize?
UTES is most exposed to Utilities, Energy, and Communication Services. VDY is most exposed to Financials, Energy, and Utilities.
Which ETF is attracting more investor flows: UTES or VDY?
Year to date, UTES has seen +$107.50 M in net flows, compared with +$1,443.21 M for VDY. VDY has attracted more net investor money so far.
How do the fees of UTES and VDY compare?
UTES has an expense ratio of 0.84%, while VDY has an expense ratio of 0.22%.
What are the top holdings of UTES and VDY?
UTES's largest holdings include ALTAGAS, HYDRO ONE, and ENBRIDGE. VDY's top holdings include ROYAL BK CANADA, TORONTO DOMINION, and ENBRIDGE.
Which ETF is more diversified: UTES or VDY?
UTES holds 10 securities, while VDY holds 58. On holdings count, VDY is the more diversified portfolio.
Recent articles about UTES and VDY
ETF Comparison: VDY vs XEI
Sector exposure, diversification, and tracking efficiency separate these two dividend ETF heavyweights.
Posted on 6/1/2026 by Kyle Anthony inDividends
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