AndrewYou mentioned swapping out ZWU for ENCL or ENCC , l would respectfully advise that you look at another option. I did own ZWU but sold and bought UMAX , 13 top notch holdings and a dividend almost double that of ZWU. .In this present environment with Central Banks in both Canada and now the USA lowering interest rates , it's a new time coming for both the Oil sector and the Utilities and as everyone talks about debt load , what's to think about . You are correct , Utilities have been laggards but a renaissance is in the works and besides great divs reinvested in new shares is a winner , in my view.