This is the midday brief for Mon, Apr 13, 2026. View latest
Market context for passive investors.
Archive
$41.75Headline
Failed U.S.-Iran peace talks over the weekend and a U.S. naval blockade of Iranian ports pushed oil above $104 a barrel, setting the tone for Monday's session. Canada's energy exposure helped XIC.TO gain 0.45%, while the S&P 500 hovered near the flatline as investors still bet on an eventual diplomatic resolution. International developed markets pulled back modestly, leaving XEQT up 0.10% on the day so far.
26.05% of XEQT
XIC.TO rose 0.45% so far, with Canada's energy sector receiving a lift from surging crude oil prices after U.S.-Iran talks collapsed and WTI jumped toward $104 a barrel, though Cogeco Communications fell nearly 8% on weaker quarterly results and a lowered full-year outlook.
43.22% of XEQT
U.S. equities gained a modest 0.21% so far, with the S&P 500 hovering near the flatline as investors held out hope for an eventual U.S.-Iran resolution, while the Dow lagged due to Goldman Sachs falling roughly 4% despite strong overall earnings after a fixed income trading miss.
25.40% of XEQT
XEF.TO fell 0.26% as European equities pulled back, with the pan-European Stoxx 600 down roughly 0.8% in early afternoon London trading as fading Iran peace hopes weighed broadly on most sectors, with travel stocks among the hardest hit and only oil and gas names holding up.
5.27% of XEQT
XEC.TO edged up 0.12%, a modest result given that Asian markets opened broadly lower earlier Monday, with the Nikkei and Hang Seng each down around 0.7% on U.S.-Iran blockade concerns, though mainland China's CSI 300 was roughly flat and helped cushion the sleeve.
XEQT is essentially flat on the day, up just 0.10%, with Canada's energy-driven gains and a resilient U.S. market offsetting a softer session in international developed markets. The geopolitical backdrop is loud, but the portfolio's response has been measured. Days like this are a reminder that diversification across four global sleeves is the strategy working exactly as intended.
WTI crude surged toward $104 a barrel Monday after U.S.-Iran talks failed and a naval blockade of Iranian ports began, lifting Canada's energy sector and contributing to the TSX's outperformance today. No action needed for XEQT holders, as energy exposure is already embedded in the Canadian sleeve.
The U.S. is blockading Iranian ports following the breakdown of weekend ceasefire talks, with markets so far pricing in hopes of an eventual deal rather than a worst-case escalation. XEQT's diversified structure means no single geopolitical event drives the whole portfolio.
The Canadian dollar sits at 0.7248 against the U.S. dollar, meaning XEQT's large U.S. and international sleeves benefit slightly from currency translation when those assets are valued in CAD. No action is required as this currency exposure is a built-in feature of holding a global ETF.
Email Briefs
Subscribe and get The XEQT Brief in your inbox after every market close, or once a week if you prefer. Always matter-of-fact. Never sensationalist.
Brief emails are free. Unsubscribe anytime.
We recommend either of the two major Canadian brokers below. Buying XEQT on either is free. Joining with the links below gives you (and us) a cash bonus.
Can't decide? Open and test both before you choose. You'll pocket $75 if you're eligible and have two great platforms ready for your first XEQT purchase.