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Open Edition. Tuesday, April 21, 2026

Market context for passive investors.

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$42.51
-0.05%

Headline

International developed markets weigh on XEQT through the early session.

XEQT is down 0.05% at the open, trading at $42.51, as a broad retreat across international developed markets offsets a constructive start in the United States. The developed international sleeve is the clear drag, contributing roughly -0.17 percentage points, while the U.S. sleeve is pulling in the other direction with an estimated +0.11 pp contribution. At one-tenth of the recent 20-day average absolute move of 0.73%, the setup is quiet rather than decisive.

How large is this morning's move?

Typical day · This morning's -0.05% move is <0.1× 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

    25.91% of XEQT

    • XIC.TO
    -0.05% -0.01 pts from XEQT

    Canada is essentially flat at -0.05%, with materials acting as the notable headwind among tracked sectors. Canadian materials are down 1.19% early, subtracting roughly 0.24 pp within the sleeve. Financials and energy are providing partial offsets, each posting modest gains so far.

    Canada market region icon

  • United States

    43.57% of XEQT

    • XTOT.TO
    • ITOT
    +0.25% +0.11 pts to XEQT

    The U.S. sleeve is the session's strongest contributor at +0.25%. Among the sectors tracked, technology and consumer discretionary are each up 0.73%, with financials adding 0.68%. Health care and consumer staples are the only tracked sectors in the red, and their combined drag is small relative to the broader advance.

    United States market region icon

  • Intl Developed

    25.06% of XEQT

    • XEF.TO
    -0.66% -0.17 pts from XEQT

    Every tracked market in the developed international sleeve is negative at the open. Japan is leading the decline at -1.12%, the largest single drag among markets tracked here, followed by Switzerland at -0.96% and the UK at -0.75%. France, Sweden, Italy, and Australia are also lower, producing a broad and consistent pattern of weakness across the sleeve.

    Intl Developed market region icon

  • Emerging Mrkts

    5.34% of XEQT

    • XEC.TO
    +0.17% +0.01 pts to XEQT

    Emerging markets are contributing a marginal +0.009 pp to XEQT, masking a split picture underneath. South Korea and Taiwan-related equities are both strongly positive among the markets tracked, up 1.53% and 1.15% respectively, while China-related equities are down 0.79% and South Africa is off 1.36%, limiting the sleeve's net effect.

    Emerging Markets market region icon

Colored bars represent biggest contributors to XEQT's move this morning (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

Three consecutive down days sounds more significant than the numbers warrant. XEQT's cumulative move over that stretch is dwarfed by the fund's 7.59% one-month gain, and the price remains within 0.8% of its 52-week high. The character of this open, developed international weakness offset by U.S. and emerging market partial support, is a routine expression of how a globally diversified portfolio absorbs uneven regional sessions. The YTD return of +5.85% remains the more meaningful frame.

Signals

  • 01

    Broad EAFE decline at the open

    Every tracked developed international market is negative early, with Japan and Switzerland among the steeper movers, suggesting the weakness is not concentrated in a single country or region. For a long-term XEQT holder, the international developed sleeve's 25% weight means a day like this produces a modest headline drag, while the U.S. and emerging market positions absorb part of the pressure.

  • 02

    Korea and Taiwan strength in EM

    South Korea and Taiwan-related equities are up 1.53% and 1.15% respectively among the markets tracked in the emerging markets sleeve, nearly offsetting China-related weakness and South Africa's decline within that segment. The net sleeve contribution is small, but the divergence within EM is worth watching as a signal of where risk appetite is selectively constructive.

  • 03

    Canadian materials drag on XIC

    Canadian materials are down 1.19% at the open, making them the dominant within-sleeve drag in Canada despite the sector representing under a fifth of XIC's weight. With financials and energy both positive so far, the Canada sleeve's flat outcome reflects an internal tug-of-war rather than a uniform directional move.

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