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Open Edition. Thursday, May 28, 2026

Curated market context for passive investors.

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$44.20
-0.27%

Headline

Renewed U.S.-Iran hostilities pull three of four XEQT sleeves lower in early trading.

XEQT was trading at $44.20, down 0.27%, early in the session, as fresh U.S. military strikes on Iran unwound the ceasefire optimism that had lifted the fund to a rolling-month high of $44.76 on Monday. International developed markets and Canada are the primary drags so far, while the U.S. sleeve is holding near flat. The move is modest relative to recent sessions, running at roughly 0.4 times the 20-day average daily swing, though it extends a three-session losing streak.

How large is this morning's move?

Typical day · This morning's -0.27% move is 0.4× 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

    25.06% of XEQT

    • XIC.TO
    -0.40% -0.10 pts from XEQT

    Canada's sleeve is down 0.40%, contributing roughly 0.10 percentage points of drag. Financials and materials are the clearest sources of pressure among the sectors tracked, while energy is the notable exception, rising 1.09% in line with WTI crude's 2.31% gain this morning. The energy advance is not enough to offset broad weakness elsewhere in the sleeve.

    Canada market region icon

  • United States

    45.16% of XEQT

    • XTOT.TO
    • ITOT
    +0.01% +0.01 pts to XEQT

    The U.S. sleeve is essentially flat at +0.01% early in the session. Health care is the strongest tracked sector, offsetting losses in industrials and consumer discretionary. The stability here is keeping XEQT's overall decline contained.

    United States market region icon

  • Intl Developed

    24.50% of XEQT

    • XEF.TO
    -0.53% -0.13 pts from XEQT

    International developed markets are the largest drag so far, with XEF.TO down 0.53% and contributing approximately 0.13 percentage points of pressure on XEQT. Among the markets tracked, the United Kingdom and Switzerland are posting the steepest early declines, consistent with reporting that European indices are opening lower as renewed U.S.-Iran hostilities cloud peace prospects. Japan is also softer, adding to the breadth of the weakness across covered exposures.

    Intl Developed market region icon

  • Emerging Mrkts

    5.00% of XEQT

    • XEC.TO
    -0.96% -0.05 pts from XEQT

    Emerging markets are the weakest sleeve in percentage terms at -0.96%, though the sleeve's 5% weight limits its contribution to XEQT to about 0.05 percentage points. Taiwan and China are down sharply among the markets tracked, with South Korea and India also softer. The broad decline across covered EM exposures is consistent with the risk-off tone following the resumption of U.S. strikes on Iran.

    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.

The Hold Line

A 0.27% decline on a day when three of four sleeves are negative and a geopolitical catalyst is clearly in play is a contained outcome. The U.S. sleeve's near-flat position is providing a meaningful floor: at 45% of XEQT, its steadiness is doing real work. XEQT remains roughly 6% above its rolling-month starting point despite three consecutive down sessions, which puts the current pullback in proportion. The session so far is a reminder that the fund's geographic spread can limit drawdowns even when the news is uncomfortable.

Signals

  • 01

    WTI crude surges on Iran strikes

    WTI crude oil, a benchmark for global energy prices, is up 2.31% after renewed U.S. strikes on Iran raised concerns about supply through the Strait of Hormuz. For XEQT holders, the gain is showing up as a partial offset inside the Canadian sleeve, where energy's 1.09% rise is the only sector in positive territory among those tracked.

  • 02

    EM weakness concentrated in Taiwan, China

    Taiwan and China-linked equities are both down more than 1.5% among the markets tracked within the emerging markets sleeve early in the session, pulling the sleeve to -0.96%, the weakest of the four. The sleeve's small 5% weight in XEQT caps the damage, but the depth of the moves in those two markets is worth watching if the risk-off tone persists through the day.

  • 03

    U.S. health care offsets industrial drag

    U.S. health care is up 0.91% among the sectors tracked, providing the clearest counterweight to a 1.17% decline in U.S. industrials early in the session. The rotation is keeping the U.S. sleeve near flat and illustrates how sector divergence within the fund's largest weight can meaningfully shape XEQT's daily outcome.

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Apr 30 to May 28 · $42.38 → $44.20

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