VS
Evolve Canadian Utilities Enhanced Yield Index Fund (UTES) and BMO Equal Weight Utilities Index ETF (ZUT) 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 ZUT leans towards Utilities. When evaluating costs, UTES features a management fee (MER) of 0.6%, compared to 0.55% for ZUT. Performance-wise, UTES has returned 8.34% year-to-date with +$87 M in net flows, whereas ZUT is at 15.32% with -$60 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
ZUT
| AuM | $350.50 M | $873.00 M |
| Management Fees | 0.60% | 0.55% |
| Exp. ratio | 0.84% | 0.61% |
| Tracking Difference | - | -0.85% |
Historical performance and flows
As of April 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UTES | -2.79% | +5.37% | +8.34% | +17.50% | - |
ZUT | -0.63% | +12.47% | +15.32% | +28.73% | +38.60% | |
| Flows | UTES | +$37 M | +$64 M | +$87 M | +$254 M | - |
ZUT | +$25 M | -$37 M | -$60 M | +$129 M | +$254 M |
UTES vs ZUT exposure
Countries
UTES
Canada
100.17%
ZUT
Canada
85.16%
Bermuda
14.84%
Sectors
UTES
Utilities
40.77%
Energy
31.24%
Communication Services
28.15%
ZUT
Utilities
100.00%
As of April 30, 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%
ZUT
BORALEX
9.91%
NORTHLAND POWER
7.97%
BROOKFIELD RENEWABLE PARTNERS
7.84%
CAPITAL POWER
7.84%
ALTAGAS
7.70%
ATCO
7.53%
ALGONQUIN POWER
7.52%
TRANSALTA
7.49%
EMERA
7.42%
CANADIAN UTILITIES
7.38%
Diversification
UTES
Total weight of top 10 holdings out of 10 total
100.17%
ZUT
Total weight of top 10 holdings out of 13 total
78.61%
Characteristics
Compare
UTES
ZUT
| Provider | Evolve ETFs | BMO |
| Management | Actively managed | Passively managed |
| Benchmark | - | Solactive Equal Weight Canada Utilities Total Return Index - CAD |
| Replication Method | Direct (Physical) | |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 14.70% | 2.91% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2024 | January 19, 2010 |
Frequently asked questions about UTES and ZUT
Which ETF has performed better year to date: UTES or ZUT?
As of April 30, 2026, UTES has returned 8.34% year to date, while ZUT has returned 15.32%. ZUT is ahead on YTD performance.
Which ETF is larger by assets under management: UTES or ZUT?
As of April 30, 2026, UTES manages $350.50 M in assets, while ZUT manages $873.00 M. ZUT is the larger fund by AUM.
How are UTES and ZUT managed?
UTES is actively managed by Evolve ETFs. It does not track an index. ZUT is passively managed by BMO. It tracks the Solactive Equal Weight Canada Utilities Total Return Index - CAD benchmark.
What sectors do UTES and ZUT emphasize?
UTES is most exposed to Utilities, Energy, and Communication Services. ZUT is most exposed to Utilities.
Which ETF is attracting more investor flows: UTES or ZUT?
Year to date, UTES has seen +$86.98 M in net flows, compared with -$60.16 M for ZUT. UTES has attracted more net investor money so far.
How do the fees of UTES and ZUT compare?
UTES has an expense ratio of 0.84%, while ZUT has an expense ratio of 0.61%.
What are the top holdings of UTES and ZUT?
UTES's largest holdings include ALTAGAS, ENBRIDGE, and PEMBINA PIPELINE. ZUT's top holdings include BORALEX, NORTHLAND POWER, and BROOKFIELD RENEWABLE PARTNERS.
Which ETF is more diversified: UTES or ZUT?
UTES holds 10 securities, while ZUT holds 13. On holdings count, ZUT is the more diversified portfolio.
Recent articles about UTES and ZUT
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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.