This is the close brief for Fri, May 1, 2026. View latest

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Close Edition. Friday, May 1, 2026

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$42.41
+0.06%

Headline

U.S. technology lifts XEQT as oil drags on Canada and energy names globally.

XEQT closed Friday at $42.41, up a modest 0.06%, as a strong U.S. session was nearly offset by losses in Canada and international developed markets. The United States sleeve contributed +0.15 pp, driven by technology, while Canada subtracted 0.06 pp and international developed markets a further 0.04 pp. Emerging markets added a small positive note, contributing +0.02 pp. A sharp drop in WTI crude oil, which fell 2.58% to $102.36, was the clearest cross-sleeve thread of the session, weighing on energy producers in Canada and muting gains elsewhere.

How large is today's move?

Typical day · Today's +0.06% 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

    25.82% of XEQT

    • XIC.TO
    -0.24% -0.06 pts from XEQT

    Energy and materials were the session's clearest drag on the Canadian sleeve, declining 1.04% and 1.21% respectively among the sectors tracked, consistent with the slide in crude oil prices. Canadian information technology provided a meaningful offset, rising 2.12% and contributing +0.16 pp within the sleeve. Financials were essentially flat, limiting further damage, and the sleeve closed down 0.24%.

    Canada market region icon

  • United States

    44.19% of XEQT

    • XTOT.TO
    • ITOT
    +0.35% +0.15 pts to XEQT

    Technology was the decisive force, rising 1.49% among the sectors tracked and contributing nearly half a percentage point within the sleeve. U.S. industrials and health care both declined, subtracting a combined 0.14 pp, but neither was large enough to blunt the technology advance. The sleeve gained 0.35%, and the S&P 500 closed at a record high.

    United States market region icon

  • Intl Developed

    24.57% of XEQT

    • XEF.TO
    -0.14% -0.04 pts from XEQT

    Japan was the primary source of weakness in this sleeve, declining 0.90% among the markets tracked and subtracting 0.22 pp within the sleeve. Australia also fell 0.75%, while continental European markets were split, with Germany and the Netherlands posting small gains and France roughly flat. The UK slipped slightly, with energy stocks and AstraZeneca cited as notable drags on London's session.

    Intl Developed market region icon

  • Emerging Mrkts

    5.36% of XEQT

    • XEC.TO
    +0.39% +0.02 pts to XEQT

    South Korea was the strongest contributor among the markets tracked, rising 0.77% and adding 0.14 pp within the sleeve. China-related equities also advanced, while India and Brazil declined, partially offsetting gains. The sleeve finished up 0.39%, its positive contribution to XEQT modest given its 5.36% weight.

    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 day when XEQT moves just 0.06% is less a signal than a reminder of how portfolio construction distributes risk: U.S. technology extended a record-setting week while oil-sensitive names in Canada and abroad pulled in the opposite direction. The fund sits 1.0% below its 52-week high, and its year-to-date return of +5.59% reflects genuine cumulative progress. A session like this one, balanced and subdued, earns a quiet close.

Signals

  • 01

    Crude oil pressures energy across sleeves

    WTI crude, the benchmark for North American oil prices, fell 2.58% to $102.36, and the effect was visible across the Canadian and U.S. energy sectors, which declined 1.04% and 1.34% respectively among the areas tracked. For XEQT holders, energy is a relatively small combined weight, so the drag was contained, but the cross-border pattern is worth noting as a reminder of commodity sensitivity within the fund.

  • 02

    U.S. technology carrying the session

    U.S. technology rose 1.49% among the sectors tracked, the largest positive contributor to XEQT's return and the factor most responsible for keeping the fund in positive territory despite losses across Canada and international developed markets. Given technology's roughly 15% implied weight within the overall fund, sustained divergence in this sector carries material consequences for XEQT's direction on any given day.

  • 03

    XEQT near 52-week high on a quiet day

    With a move of just 0.06%, only one-tenth of the recent 20-day average daily move of 0.58%, this session was unusually calm, yet XEQT closed just 1.0% below its 52-week high of $42.84. Proximity to a multi-year high on a low-volatility day is often unremarkable in isolation, but combined with a +5.59% year-to-date return, it places long-term holders in a meaningfully improved position relative to where the year began.

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