VS
Evolve Canadian Utilities Enhanced Yield Index Fund (UTES) and iShares S&P/TSX Capped Utilities Index ETF (XUT) 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 XUT leans towards Utilities. When evaluating costs, UTES features a management fee (MER) of 0.6%, compared to 0.55% for XUT. Performance-wise, UTES has returned 7.37% year-to-date with +$82 M in net flows, whereas XUT is at 11.3% with +$306 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
XUT
| AuM | $342.23 M | $623.56 M |
| Management Fees | 0.60% | 0.55% |
| Exp. ratio | 0.84% | 0.61% |
| Tracking Difference | - | -0.86% |
Historical performance and flows
As of April 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UTES | -2.73% | +5.71% | +7.37% | +16.72% | - |
XUT | +2.79% | +9.83% | +11.30% | +25.81% | +35.86% | |
| Flows | UTES | +$35 M | +$62 M | +$82 M | +$250 M | - |
XUT | +$182 M | +$281 M | +$306 M | +$235 M | +$270 M |
UTES vs XUT exposure
Countries
UTES
Canada
100.17%
XUT
Canada
80.13%
Bermuda
19.53%
Sectors
UTES
Utilities
40.77%
Energy
31.24%
Communication Services
28.15%
XUT
Utilities
99.66%
As of April 24, 2026
Top 10 Holdings
UTES
ALTAGAS
10.83%
ENBRIDGE
10.56%
PEMBINA PIPELINE
10.35%
TC ENERGY CORP
10.33%
ROGERS COMMUNICATIONS
10.07%
EMERA
10.02%
HYDRO ONE
9.97%
FORTIS
9.95%
BCE
9.31%
TELUS
8.78%
XUT
FORTIS
22.94%
BROOKFIELD INFRASTRUCTURE PARTNERS LP UNIT
13.46%
EMERA
12.68%
HYDRO ONE
10.64%
ALTAGAS
8.75%
BROOKFIELD RENEWABLE PARTNERS
6.07%
CAPITAL POWER
6.00%
CANADIAN UTILITIES
3.69%
NORTHLAND POWER
3.56%
ALGONQUIN POWER
3.47%
Diversification
UTES
Total weight of top 10 holdings out of 10 total
100.17%
XUT
Total weight of top 10 holdings out of 14 total
91.25%
Characteristics
Compare
UTES
XUT
| Provider | Evolve ETFs | iShares |
| Management | Actively managed | Passively managed |
| Benchmark | - | S&P/TSX Capped Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 14.84% | 3.45% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2024 | April 12, 2011 |
Frequently asked questions about UTES and XUT
Which ETF has performed better year to date: UTES or XUT?
As of April 24, 2026, UTES has returned 7.37% year to date, while XUT has returned 11.30%. XUT is ahead on YTD performance.
Which ETF is larger by assets under management: UTES or XUT?
As of April 24, 2026, UTES manages $342.23 M in assets, while XUT manages $623.56 M. XUT is the larger fund by AUM.
How are UTES and XUT managed?
UTES is actively managed by Evolve ETFs. It does not track an index. XUT is passively managed by iShares. It tracks the S&P/TSX Capped Utilities Total Return Index - CAD benchmark.
What sectors do UTES and XUT emphasize?
UTES is most exposed to Utilities, Energy, and Communication Services. XUT is most exposed to Utilities.
Which ETF is attracting more investor flows: UTES or XUT?
Year to date, UTES has seen +$81.82 M in net flows, compared with +$306.41 M for XUT. XUT has attracted more net investor money so far.
How do the fees of UTES and XUT compare?
UTES has an expense ratio of 0.84%, while XUT has an expense ratio of 0.61%.
What are the top holdings of UTES and XUT?
UTES's largest holdings include ALTAGAS, ENBRIDGE, and PEMBINA PIPELINE. XUT's top holdings include FORTIS, BROOKFIELD INFRASTRUCTURE PARTNERS LP UNIT, and EMERA.
Which ETF is more diversified: UTES or XUT?
UTES holds 10 securities, while XUT holds 14. On holdings count, XUT is the more diversified portfolio.
Recent articles about UTES and XUT
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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.