VS
Evolve Canadian Utilities Enhanced Yield Index Fund (UTES) and iShares Canadian Value Index ETF (XCV) 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 XCV leans towards Financials, Energy, and Materials. When evaluating costs, UTES features a management fee (MER) of 0.6%, compared to 0.5% for XCV. Performance-wise, UTES has returned 13.57% year-to-date with +$109 M in net flows, whereas XCV is at 20.2% with +$107 M. 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
XCV
| AuM | $379.28 M | $239.65 M |
| Management Fees | 0.60% | 0.50% |
| Exp. ratio | 0.84% | 0.55% |
| Tracking Difference | - | -0.98% |
Historical performance and flows
As of June 8, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UTES | +3.06% | +2.94% | +13.57% | +25.67% | - |
XCV | +5.12% | +13.75% | +20.20% | +50.28% | +115.07% | |
| Flows | UTES | +$21 M | +$72 M | +$109 M | +$261 M | - |
XCV | +$17 M | +$92 M | +$107 M | +$112 M | +$75 M |
UTES vs XCV exposure
Countries
UTES
Canada
100.40%
XCV
Canada
99.77%
Sectors
UTES
Utilities
42.59%
Energy
30.89%
Communication Services
26.92%
XCV
Financials
59.58%
Energy
27.80%
Other
12.62%
As of June 8, 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%
XCV
TORONTO DOMINION
10.40%
ROYAL BK CANADA
10.09%
ENBRIDGE
7.87%
BANK OF MONTREAL
6.99%
CDN IMPERIAL BK
6.74%
CDN NATURAL RESOURCE
6.46%
BNS
6.24%
SUNCOR ENERGY
5.30%
TC ENERGY CORP
4.54%
MANULIFE-S
4.29%
Diversification
UTES
Total weight of top 10 holdings out of 10 total
100.40%
XCV
Total weight of top 10 holdings out of 35 total
68.90%
Characteristics
Compare
UTES
XCV
| Provider | Evolve ETFs | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | Dow Jones Canada Select Value Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 15.89% | 2.28% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2024 | November 6, 2006 |
Frequently asked questions about UTES and XCV
Which ETF has performed better year to date: UTES or XCV?
As of June 8, 2026, UTES has returned 13.57% year to date, while XCV has returned 20.20%. XCV is ahead on YTD performance.
Which ETF is larger by assets under management: UTES or XCV?
As of June 8, 2026, UTES manages $379.28 M in assets, while XCV manages $239.65 M. UTES is the larger fund by AUM.
How are UTES and XCV managed?
UTES is actively managed by Evolve ETFs. It does not track an index. XCV is passively managed by iShares. It tracks the Dow Jones Canada Select Value Total Return Index - CAD benchmark.
What sectors do UTES and XCV emphasize?
UTES is most exposed to Utilities, Energy, and Communication Services. XCV is most exposed to Financials, Energy, and Materials.
Which ETF is attracting more investor flows: UTES or XCV?
Year to date, UTES has seen +$109.37 M in net flows, compared with +$107.46 M for XCV. UTES has attracted more net investor money so far.
How do the fees of UTES and XCV compare?
UTES has an expense ratio of 0.84%, while XCV has an expense ratio of 0.55%.
What are the top holdings of UTES and XCV?
UTES's largest holdings include ALTAGAS, HYDRO ONE, and ENBRIDGE. XCV's top holdings include TORONTO DOMINION, ROYAL BK CANADA, and ENBRIDGE.
Which ETF is more diversified: UTES or XCV?
UTES holds 10 securities, while XCV holds 35. On holdings count, XCV is the more diversified portfolio.
Recent articles about UTES and XCV
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All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.