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.
US
EQUITY
Active
MANAGEMENT STYLE
472.7 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Virtus |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 23, 2015 |
| Assets (mns) | $473 |
| 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
| VISTRA ENERGY CORP. | 10.2 % |
| CONSTELLATION ENERGY CORPORATION | 9.3 % |
| TALEN ENERGY CORP ORDINARY SHARES NEW | 7.6 % |
| XCEL ENERGY INC | 7.1 % |
| SEMPRA ENERGY | 6.6 % |
| CENTERPOINT ENERGY INC | 5.7 % |
| ENTERGY CORP | 5.5 % |
| PINNACLE WEST CAPITAL | 5.5 % |
| ATMOS ENERGY CORP | 5.5 % |
| NISOURCE INC | 5.3 % |
Constituent Breakdown
| Number of holdings | 22 |
| Herfindahl-Hirschman Index | 627 |
| Wgt avg mkt cap (mns) | $35,096 |
| Large cap (>$10bn) | 81.4% |
| Mid cap ($2-10bn) | 11.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 93.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.0 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 14.0% | 31.3% | 27.7% | 14.6% | 14.1% | -- | -- | 11.6% |
| Dividend Yield | 0.0% | 1.0% | 2.1% | 2.1% | 2.3% | -- | -- | 2.5% |
| Total Returns | 14.0% | 32.3% | 29.8% | 16.7% | 16.4% | -- | -- | 14.1% | Ann. Volatility | 31.9% | 26.2% | 21.8% | 21.8% | 19.9% | -- | -- | 20.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.76 | 44% |
| MSCI EAFE | 0.64 | 33% |
| MSCI Emg Mkts | 0.57 | 26% |
Liquidity Measures
| Avg. volume (000) | 100 |
| ADV traded (mns) | $7 |
| Turnover | 1.5% |
| Avg. Bid/Ask (% of price) | 0.16% |
Technical Indicators
| Recent close | $72.73 |
| 30d moving avg. | $70.52 |
| Annualized volatility | 19.4% |
| Relative strength (RSI) | 59 |
| Short interest | 0.7% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| RSPU | Invesco S&P 500 Equal Weight Utilities ETF | 45.9% | -9 bp | +5.6% |
| XLU | Utilities Select Sector SPDR Fund | 43.6% | -41 bp | +5.3% |
| VPU | Vanguard Utilities ETF | 42.3% | -39 bp | +5.4% |
| FUTY | Fidelity MSCI Utilities Index ETF | 40.0% | -41 bp | +5.4% |
| IDU | iShares U.S. Utilities ETF | 39.6% | -9 bp | +4.8% |
| FXU | First Trust Utilities AlphaDEX Fund | 38.1% | +15 bp | +5.6% |
| PUI | Invesco Dorsey Wright Utilities Momentum ETF | 35.4% | +11 bp | +5.5% |
| ZAP | Global X U.S. Electrification ETF | 31.3% | +1 bp | +4.5% |
| JXI | iShares Global Utilities ETF | 31.1% | -6 bp | +5.9% |
| ECLN | First Trust EIP Carbon Impact ETF | 28.6% | +47 bp | +4.1% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 6/12/2025
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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
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 Rating
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.
ALTAR Score™
4.2%
Cat. Avg
5.9%
ALTAR Score™ Calculation
Category Overview
There are 936 funds in the US Equity category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places in the 24th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
UTESSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (49 bp) Percentile rank | 33 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 49.0 | 0.0 | 49 | |
| Peer Avg. | 67.9 | 47.7 | 115.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .