UTG vs MSLC

Comparison between Reaves Utility Income Fund (UTG, ETF) and MORGAN STANLEY PATHWAY LARGE CAP EQUITY ETF (MSLC, ETF).

UTG vs MSLC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UTG(ETF)	MSLC(ETF)
Net Assets	$4B	$4B
Expense Ratio	N/A	0.39%
Max Drawdown	71.97%	17.86%
Sharpe Ratio	1.19	1.25
5Y Beta	0.50	0.93
P/E Ratio	N/A	26.26
Forward P/E	N/A	20.81
5Y Dividends CAGR	1.97%	N/A
5Y EPS CAGR	N/A	24.91%
P/S Ratio	N/A	3.03
P/B Ratio	N/A	5.06

Net Assets

UTG

$4B

MSLC

$4B

Expense Ratio

UTG

N/A

MSLC

0.39%

Max Drawdown

UTG

71.97%

Winner

MSLC

17.86%

Sharpe Ratio

UTG

1.19

Winner

MSLC

1.25

5Y Beta

Winner

UTG

0.50

MSLC

0.93

P/E Ratio

UTG

N/A

MSLC

26.26

Forward P/E

UTG

N/A

MSLC

20.81

5Y Dividends CAGR

UTG

1.97%

MSLC

N/A

5Y EPS CAGR

UTG

N/A

MSLC

24.91%

P/S Ratio

UTG

N/A

MSLC

3.03

P/B Ratio

UTG

N/A

MSLC

5.06

UTG vs MSLC - Historical Returns

Returns include dividend reinvestment.

Period	UTG	MSLC
1 month	-5.60%	+0.51%
3 months	+3.08%	+10.40%
6 months	+13.51%	+7.59%
1 year	+23.61%	+19.49%
5 years(CAGR)	+10.74%	N/A
10 years(CAGR)	+10.22%	N/A
Max(CAGR)	+11.08%	+12.76%

UTG

-5.60%

Winner

MSLC

+0.51%

UTG

+3.08%

Winner

MSLC

+10.40%

Winner

UTG

+13.51%

MSLC

+7.59%

Winner

UTG

+23.61%

MSLC

+19.49%

5Y(CAGR)

UTG

+10.74%

MSLC

N/A

10Y(CAGR)

UTG

+10.22%

MSLC

N/A

Max(CAGR)

UTG

+11.08%

Winner

MSLC

+12.76%

UTG vs MSLC - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	UTG	MSLC
2026	+12.09%	+6.90%
2025	+22.37%	+15.85%
2024	+26.78%	-3.29%
2023	+1.15%	N/A
2022	-13.56%	N/A
2021	+14.73%	N/A
2020	-5.97%	N/A
2019	+34.02%	N/A
2018	+2.33%	N/A
2017	+5.13%	N/A
2016	+29.83%	N/A
2015	-13.79%	N/A
2014	+39.83%	N/A
2013	+10.08%	N/A
2012	+1.56%	N/A
2011	+23.57%	N/A
2010	+24.97%	N/A
2009	+61.39%	N/A
2008	-48.71%	N/A
2007	+13.03%	N/A
2006	+31.94%	N/A
2005	+3.28%	N/A
2004	+5.01%	N/A

UTG vs MSLC Drawdown Comparison

The maximum drawdown for UTG was -67.75%, occurring on Mar 9, 2009. Recovery took 642 trading sessions.

The maximum drawdown for MSLC was -17.86%, occurring on Apr 8, 2025. Recovery took 88 trading sessions.

The current UTG drawdown is -6.16%. The current MSLC drawdown is -2.13%.

Rank	UTG	MSLC
#1	-67.75% Jan 11, 2008 - Jul 30, 2010	-17.86% Feb 19, 2025 - Jun 26, 2025
#2	-47.96% Feb 12, 2020 - Sep 2, 2021	-9.31% Jan 12, 2026 - Apr 15, 2026
#3	-26.50% Apr 20, 2022 - Aug 15, 2024	-5.29% Oct 28, 2025 - Dec 11, 2025
#4	-22.66% Feb 3, 2015 - May 12, 2016	-4.51% Dec 11, 2024 - Jan 22, 2025
#5	-22.28% Aug 24, 2017 - Mar 18, 2019	-4.08% Jun 1, 2026 - Jun 10, 2026
#6	-21.31% Jul 25, 2011 - Sep 20, 2011	-2.85% Oct 8, 2025 - Oct 24, 2025
#7	-20.10% Mar 17, 2004 - Dec 22, 2004	-2.51% Jul 25, 2025 - Aug 12, 2025
#8	-15.96% Jul 3, 2012 - Mar 13, 2013	-2.43% Dec 11, 2025 - Dec 23, 2025
#9	-15.30% May 21, 2007 - Oct 31, 2007	-1.83% May 14, 2026 - May 26, 2026
#10	-14.94% Nov 27, 2024 - May 15, 2025	-1.57% Sep 22, 2025 - Oct 3, 2025
#11	-14.92% Sep 7, 2005 - Jul 26, 2006	-1.49% Jan 23, 2025 - Feb 18, 2025
#12	-13.54% May 17, 2013 - Feb 11, 2014	-1.43% Aug 14, 2025 - Aug 22, 2025
#13	-11.66% Jul 11, 2016 - Dec 27, 2016	-1.22% Aug 28, 2025 - Sep 8, 2025
#14	-11.57% Oct 15, 2025 - Feb 17, 2026	-1.12% Dec 26, 2025 - Jan 6, 2026
#15	-11.30% Sep 3, 2021 - Apr 20, 2022	-0.83% Jul 3, 2025 - Jul 17, 2025

Correlation

Correlation between UTG and MSLC is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.

0.92

-101

Dividend Comparison (2004 - 2026)

UTG vs MSLC dividend yield comparison.

Year	UTG	MSLC
2026	1.96%	0.00%
2025	6.42%	2.15%
2024	7.19%	0.00%
2023	8.53%	0.00%
2022	8.07%	0.00%
2021	6.35%	0.00%
2020	6.59%	0.00%
2019	5.69%	0.00%
2018	6.86%	0.00%
2017	6.21%	0.00%
2016	9.02%	0.00%
2015	6.86%	0.00%
2014	5.06%	0.00%
2013	6.31%	0.00%
2012	6.30%	0.00%
2011	6.49%	0.00%
2010	6.17%	0.00%
2009	7.78%	0.00%
2008	13.58%	0.00%
2007	8.08%	0.00%
2006	5.47%	0.00%
2005	7.65%	0.00%
2004	4.88%	0.00%