UTM parameters are used to monitor traffic to the actual website that the link resolves too and can provide deeper insight into the traffic going to and from your website.
Click tracking is a setting available via Sendgrid where they can track the number of clicks to a specific link only.
UTM parameters are not automatic with click tracking enabled. You will want to continue utilizing your own UTM parameters.
For more information about Click Tracking, please see: What is Click Tracking?
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