Income + Growth: A Closer Look at the Reaves Utility Income Fund (UTG)
Income and Infrastructure: A Closer Look at the Reaves Utility Income Fund (UTG
For many investors, generating consistent income while maintaining exposure to long-term equity growth remains an important objective. Infrastructure sectors such as utilities have historically played a valuable role in income-oriented portfolios due to the essential services they provide and the relatively stable demand for those services.
The Reaves Utility Income Fund (UTG) is an actively managed closed-end fund designed to provide investors with a combination of current income and long-term capital appreciation through investments in utilities, power companies, and related infrastructure businesses.
Why Utilities & Infrastructure?
Utilities occupy a unique position in the economy. Companies involved in electricity generation, transmission, and distribution supply services that households, businesses, and governments depend on every day.
- Economic Resilience: Because electricity demand tends to remain resilient across economic cycles, companies in this sector have historically generated relatively stable cash flows.
- Income Support: These stable cash flows naturally support consistent dividend payments and income-focused investment strategies.
The UTG Track Record
- Consistent Monthly Income: Since its inception in 2004, UTG has sought to deliver regular monthly income to shareholders.
- 14 Distribution Increases: Reflecting the growth of the portfolio and the managers' focus on delivering value, the fund has increased its distribution 13 times since inception.
- $2.52 Annualized Distribution: The fund currently distributes income monthly, with annual distributions of $2.40 per share, providing a yield that is typically higher than the S&P 500.
- Competitive Growth: Since inception, UTG has generated approximately 10.78% annualized total returns, compared with roughly 10.89% for the S&P 500. This demonstrates that an income-focused strategy in essential infrastructure can still produce strong long-term growth alongside regular cash flow.
As a closed-end fund, UTG enjoys the operational flexibility to allocate capital dynamically across a range of utilities and power producers while utilizing portfolio management tools designed to enhance income generation.
Performance Data
Total Return as of June 30, 2026
| 1 Mo. | 3 Mo. | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception* |
|---|---|---|---|---|---|---|---|
| Market Price | -3.60% | 5.16% | 19.62% | 22.65% | 11.31% | 9.82% | 10.78% |
| NAV | 0.69% | 9.78% | 20.25% | 25.35% | 24.43% | 12.81% | 11.22% |
*Inception date: 2/24/2004. Performance figures for periods greater than one year are annualized.
Understanding Market Price vs. NAV: The market price of a closed-end fund is determined by the market value at which it trades on an exchange. The net asset value (NAV) represents the actual market value of the underlying investments (stocks and bonds) in the Fund’s portfolio, minus liabilities, divided by the total number of outstanding shares.
Important Disclosures & Risk Considerations
Past performance cannot predict future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributionsor the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.
Distribution Policies: The amount distributed per share is subject to change at the discretion of the Fund’s Board of Trustees. Sources of distributions to shareholders may include net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Based on current estimates, we anticipate the current distribution has been paid from net investment income and net realized long-term capital gain. The actual amounts and sources for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time,available atReaves Utility Income Fund. These estimates may not match the final tax characterization contained in shareholders' 1099-DIV forms after the end of the year. Distribution payments are not guaranteed and distribution rates can vary.
Risk Considerations: The Fund may have elements of risk, including the risk of loss of equity. There is no assurance that the investment process will consistently lead to successful results. An investment concentrated in specific sectors and industries may involve greater risk and volatility than a more diversified investment.
Before Investing: An investor should consider the investment objectives, risks, charges, and expenses carefully before investing. Please click on the respective links to obtain an annual reportor semi-annual report which contains this and other important information, or call 1-800-644-5571. Read them carefully before investing.
Posted Jul 10, 2026, 7:31 PM UTC · locked