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) | $43 |
| 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 | 20.7 % |
| DTE ENERGY COMPANY | 7.6 % |
| SEMPRA ENERGY | 6.1 % |
| CMS ENERGY CORP | 5.7 % |
| VISTRA ENERGY CORP. | 5.4 % |
| CONSTELLATION ENERGY CORPORATION | 5.4 % |
| EDISON INTERNATIONAL | 5.2 % |
| XCEL ENERGY INC | 5.1 % |
| NISOURCE INC | 5.1 % |
| ATMOS ENERGY CORP | 4.5 % |
Constituent Breakdown
| Number of holdings | 21 |
| Herfindahl-Hirschman Index | 716 |
| Wgt avg mkt cap (mns) | $43,417 |
| Large cap (>$10bn) | 93.7% |
| Mid cap ($2-10bn) | 6.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 104.7 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -4.7% | -7.0% | 1.8% | 7.4% | 7.7% | -- | 9.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.66 | 48% |
| MSCI EAFE | 0.55 | 35% |
| MSCI Emg Mkts | 0.43 | 21% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $1,964 |
Technical Indicators
| Recent close | $45.16 |
| 30d moving avg. | $44.59 |
| Annualized volatility | 17.1% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 1.1% |
| 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 |
|---|---|---|---|---|
| RSPU | Invesco S&P 500 Equal Weight Utilities ETF | 58.5% | -9 bp | +1.3% |
| XLU | Utilities Select Sector SPDR Fund | 57.3% | -39 bp | +0.7% |
| VPU | Vanguard Utilities Index Fund | 54.7% | -39 bp | +0.5% |
| FUTY | Fidelity MSCI Utilities Index ETF | 53.6% | -41 bp | +0.7% |
| IDU | iShares U.S. Utilities ETF | 51.5% | -10 bp | +0.1% |
| PUI | Invesco DWA Utilities Momentum ETF | 50.8% | +11 bp | 0.0% |
| FXU | First Trust Utilities AlphaDEX Fund | 43.8% | +15 bp | +0.1% |
| JXI | iShares Global Utilities ETF | 39.4% | -6 bp | +0.8% |
| ECLN | First Trust EIP Carbon Impact ETF | 26.3% | +47 bp | -0.8% |
| RBLD | First Trust Alerian US NextGen Infrastructure ETF | 18.2% | +16 bp | -0.6% |
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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/20/2023
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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
6.0%
Cat. Avg
6.3%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.0% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 899 funds in the US Equities category, with an average ALTAR Score™
of 6.3% and a standard deviation of
3.1%. UTES's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places UTES in the 46th 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 | 18.0 | 67 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .