VS
Evolve Canadian Utilities Enhanced Yield Index Fund (UTES) and BMO Covered Call Utilities ETF (ZWU) 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 ZWU leans towards Utilities, Energy, and Communication Services. When evaluating costs, UTES features a management fee (MER) of 0.6%, compared to 0.65% for ZWU. Performance-wise, UTES has returned 8.34% year-to-date with +$87 M in net flows, whereas ZWU is at 10.64% with +$47 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
ZWU
| AuM | $350.50 M | $2,162.25 M |
| Management Fees | 0.60% | 0.65% |
| Exp. ratio | 0.84% | 0.71% |
| Tracking Difference | - | - |
Historical performance and flows
As of April 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | UTES | -2.79% | +5.37% | +8.34% | +17.50% | - |
ZWU | -0.66% | +7.30% | +10.64% | +16.99% | +30.10% | |
| Flows | UTES | +$37 M | +$64 M | +$87 M | +$254 M | - |
ZWU | +$50 M | +$23 M | +$47 M | +$224 M | +$169 M |
UTES vs ZWU exposure
Countries
UTES
Canada
100.17%
ZWU
Canada
54.22%
USA
43.05%
Sectors
UTES
Utilities
40.77%
Energy
31.24%
Communication Services
28.15%
ZWU
Utilities
56.11%
Energy
23.14%
Communication Services
21.65%
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%
ZWU
FORTIS
5.56%
HYDRO ONE
5.52%
VERIZON COMMUNICATIONS
5.41%
TC ENERGY CORP
5.38%
AT&T
4.86%
PEMBINA PIPELINE
4.85%
ENBRIDGE
4.80%
EMERA
4.52%
KINDER MORGAN
4.36%
NEXTERA ENERGY
4.35%
Diversification
UTES
Total weight of top 10 holdings out of 10 total
100.17%
ZWU
Total weight of top 10 holdings out of 29 total
49.61%
Characteristics
Compare
UTES
ZWU
| Provider | Evolve ETFs | BMO |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 14.70% | 7.02% |
| Meets ESG criteria | No | No |
| Inception Date | September 3, 2024 | October 27, 2011 |
Frequently asked questions about UTES and ZWU
Which ETF has performed better year to date: UTES or ZWU?
As of April 30, 2026, UTES has returned 8.34% year to date, while ZWU has returned 10.64%. ZWU is ahead on YTD performance.
Which ETF is larger by assets under management: UTES or ZWU?
As of April 30, 2026, UTES manages $350.50 M in assets, while ZWU manages $2.16 B. ZWU is the larger fund by AUM.
How are UTES and ZWU managed?
UTES is actively managed by Evolve ETFs. It does not track an index. ZWU is actively managed by BMO. It does not track an index.
What sectors do UTES and ZWU emphasize?
UTES is most exposed to Utilities, Energy, and Communication Services. ZWU is most exposed to Utilities, Energy, and Communication Services.
Which ETF is attracting more investor flows: UTES or ZWU?
Year to date, UTES has seen +$86.98 M in net flows, compared with +$47.44 M for ZWU. UTES has attracted more net investor money so far.
How do the fees of UTES and ZWU compare?
UTES has an expense ratio of 0.84%, while ZWU has an expense ratio of 0.71%.
What are the top holdings of UTES and ZWU?
UTES's largest holdings include ALTAGAS, ENBRIDGE, and PEMBINA PIPELINE. ZWU's top holdings include FORTIS, HYDRO ONE, and VERIZON COMMUNICATIONS.
Which ETF is more diversified: UTES or ZWU?
UTES holds 10 securities, while ZWU holds 29. On holdings count, ZWU is the more diversified portfolio.
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