UTES
Virtus Reaves Utilities ETF
The Reaves Utilities ETF is an actively managed ETF that holds US-listed utility stocks. UTES’ managers aim to outperform the sector by selecting and weighting stocks based on fundamental, growth and risk metrics.
Fund Basics
| Fund sponsor | Virtus |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 23, 2015 |
| Assets (mns) | $45 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NEXTERA ENERGY GROUP | 21.2 % |
| PUBLIC SERVICE ENTERPRISE GP | 8.1 % |
| EDISON INTERNATIONAL | 7.8 % |
| DTE ENERGY COMPANY | 6.0 % |
| CONSTELLATION ENERGY CORPORATION | 5.3 % |
| ENTERGY CORP | 4.8 % |
| CMS ENERGY CORP | 4.8 % |
| VISTRA ENERGY CORP. | 4.4 % |
| ATMOS ENERGY CORP | 4.2 % |
| NISOURCE INC | 3.9 % |
Constituent Breakdown
| Number of holdings | 22 |
| Herfindahl-Hirschman Index | 824 |
| Wgt avg mkt cap (mns) | $53,280 |
| Large cap (>$10bn) | 94.1% |
| Mid cap ($2-10bn) | 5.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 99.7 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2022)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 2.1% | 11.5% | 11.7% | 8.3% | 9.2% | -- | 11.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.66 | 50% |
| MSCI EAFE | 0.58 | 39% |
| MSCI Emg Mkts | 0.43 | 24% |
Liquidity Measures
| Avg. volume (000) | 7 |
| Turnover | 0.7% |
| Avg. Bid/Ask (% of price) | 0.19% |
| ADV of underlying (mns) | $3,208 |
Technical Indicators
| Recent close | $47.49 |
| 30d moving avg. | $45.57 |
| Annualized volatility | 19.5% |
| Relative strength (RSI) | 67 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 1.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. UTES |
Expenses vs. UTES |
ALTAR Score™ vs. UTES |
|---|---|---|---|---|
| RYU | Invesco S&P 500 Equal Weight Utilities ETF | 52.6% | -9 bp | +1.7% |
| XLU | Utilities Select Sector SPDR Fund | 51.1% | -39 bp | +0.9% |
| FUTY | Fidelity MSCI Utilities Index ETF | 47.5% | -41 bp | +0.8% |
| VPU | Vanguard Utilities Index Fund | 47.4% | -39 bp | +0.8% |
| IDU | iShares U.S. Utilities ETF | 45.8% | -10 bp | +0.4% |
| PUI | Invesco DWA Utilities Momentum ETF | 36.9% | +11 bp | +0.3% |
| JXI | iShares Global Utilities ETF | 35.6% | -9 bp | +1.0% |
| FXU | First Trust Utilities AlphaDEX Fund | 33.1% | +15 bp | +1.5% |
| ECLN | First Trust EIP Carbon Impact ETF | 25.6% | +46 bp | -1.4% |
| NLR | VanEck Uranium+Nuclear Energy ETF | 21.6% | +11 bp | -3.3% |
Risk and Returns: UTES vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2021 | 2022E | Fwd Est | 2023E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/6/2022
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
UTES
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
UTES
4.9%
Cat. Avg
6.6%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.9% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 874 funds in the US Equities category, with an average ALTAR Score™
of 6.6% and a standard deviation of
3.0%. UTES's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places UTES in the 29th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
UTES
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| UTES | 49.0 | 18.7 | 67.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .