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Close Edition. Tuesday, April 21, 2026

Market context for passive investors.

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$42.03
-1.18%

Headline

International developed markets led a broad retreat, pulling XEQT down 1.18%.

Tuesday's session was a broad decline across all four sleeves, with XEQT closing at $42.03. International developed markets were the heaviest drag, contributing -0.493 pp to the fund's loss, while Canada added another -0.422 pp. The U.S. sleeve held up comparatively well at -0.46%, limiting further damage. Emerging markets rounded out a session in which no sleeve finished in positive territory.

How large is today's move?

Larger-than-usual day · Today's -1.18% move is 1.5× the 20-day average move.

This scale measures size, not what to do. Larger moves are a normal part of holding a global all-equity fund.

The Regions

  • Canada

    26.02% of XEQT

    • XIC.TO
    -1.62% -0.42 pts from XEQT

    Materials were the defining story within the Canadian sleeve, falling 5.42% and contributing -1.076 pp at the sleeve level. That move swamped a genuine bright spot: energy rose 1.75%, adding +0.287 pp and partially offsetting the damage. Financials, the sleeve's largest weight, declined 0.86%, adding to the shortfall but well below the severity seen in materials.

    Canada market region icon

  • United States

    43.57% of XEQT

    • XTOT.TO
    • ITOT
    -0.46% -0.20 pts from XEQT

    Technology was essentially flat among the sectors tracked, while industrials and communication services each fell more than 1.3%, together accounting for the bulk of the sleeve's decline. Energy added +0.050 pp, a modest cushion. The U.S. sleeve's -0.46% loss was the shallowest of the four, keeping its contribution to XEQT's drawdown at -0.198 pp.

    United States market region icon

  • Intl Developed

    24.95% of XEQT

    • XEF.TO
    -1.98% -0.49 pts from XEQT

    Losses were broad and deep across the markets tracked within this sleeve. Japan, Switzerland, France, and Sweden each fell more than 2.4%, with Japan alone contributing -0.594 pp at the sleeve level. No market among those tracked finished higher, and eight of twelve posted declines exceeding 2%, making this the single largest source of XEQT's loss on the day.

    Intl Developed market region icon

  • Emerging Mrkts

    5.30% of XEQT

    • XEC.TO
    -1.07% -0.06 pts from XEQT

    South Africa fell 3.62% among the markets tracked, the steepest single-country decline in this sleeve. South Korea and China each dropped more than 1.9%, together accounting for the majority of the sleeve's -1.07% loss. Taiwan was nearly unchanged at -0.07%, a meaningful divergence from the weakness elsewhere in the sleeve. The sleeve's small weight in XEQT limited its overall contribution to -0.057 pp.

    Emerging Markets market region icon

Colored bars represent biggest contributors to XEQT's move today (threshold = ±0.1 percentage points). Returns are daily ETF price moves for tracked regional or sector categories and may differ slightly from raw index movements.

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The Hold Line

A decline of 1.18% is roughly 1.5 times the recent 20-day average daily move, so it registers as a notable session without being extraordinary. More relevant context: XEQT's one-month return stands at +6.38% and the year-to-date figure remains +4.66%, both well above flat. Two consecutive down days after a strong run is a normal feature of equity markets, not a signal. The fund sits 1.9% below its 52-week high, which itself reflects how much ground has already been recovered from the April low.

Signals

  • 01

    Materials drag outsizes sector weight

    Canadian materials fell 5.42% on the day, contributing more than twice the sleeve-level damage of the much larger financials sector despite holding roughly half the weight. For XEQT holders, single-sector swings of this magnitude are a reminder of why broad indexing, rather than sector concentration, defines this fund's construction.

  • 02

    Developed markets led losses globally

    International developed markets posted the steepest sleeve loss at -1.98%, outpacing both Canada and emerging markets, with nearly every major market tracked declining more than 2%. This is worth watching: if the EAFE sleeve continues to lead on down days, it would represent a shift from the recent pattern in which U.S. performance has set the tone.

  • 03

    Taiwan diverges within emerging markets

    Taiwan-listed equities within the emerging markets sleeve were nearly flat at -0.07%, a stark contrast to declines of 2.2% and 1.92% in South Korea and China respectively among the markets tracked. This divergence within the sleeve dampened what could have been a sharper EM contribution to XEQT's loss.

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