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Close Edition. Wednesday, June 24, 2026

Curated market context for passive investors.

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$44.88
-0.13%

Headline

Canada pulls XEQT lower as falling oil and gold prices weigh on the TSX

XEQT closed down 0.13%, a move about one-fifth of its recent 20-day average, as losses concentrated almost entirely in the Canada sleeve. The TSX retreated sharply, dragged by steep declines in materials and energy sectors, with crude oil falling more than 4% and gold dropping more than 3%. The other three sleeves were each fractionally positive, effectively offsetting most of Canada's damage. Emerging markets provided a quiet counterweight, lifted by a strong rebound in South Korean equities.

How large is today's move?

Typical day · Today's -0.13% move is 0.2× 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

    25.12% of XEQT

    • XIC.TO
    -0.55% -0.14 pts from XEQT

    The TSX fell to a 13-day low, contributing roughly 0.14 percentage points of drag to XEQT. Among the sectors tracked, materials fell 3.69% and energy fell 3.29%, consistent with crude oil retreating more than 4% and gold declining more than 3%. Canadian information technology bucked the trend, rising 3.24%, and consumer staples added 2.37%, but those gains were far too small to offset the commodity sectors' weight.

    Canada market region icon

  • United States

    45.08% of XEQT

    • XTOT.TO
    • ITOT
    +0.04% +0.02 pts to XEQT

    The U.S. sleeve finished fractionally positive at 0.04%, contributing just 0.02 percentage points to XEQT. Technology and communication services were both lower within the areas tracked, as dip-buying in chip stocks faded through the afternoon. Industrials, consumer discretionary, and health care each rose more than 0.75%, providing enough offset to keep the sleeve near flat.

    United States market region icon

  • Intl Developed

    24.59% of XEQT

    • XEF.TO
    +0.02% +0.00 pts to XEQT

    XEF.TO edged up 0.02%, adding less than a basis point to XEQT. Within the covered exposures, Germany fell 1.05% and Spain declined 1.14%, with the Handelsblatt noting that investors remained cautious after last week's tech-driven volatility. Switzerland gained 1.15%, providing meaningful offset, while Japan and the UK each posted minor declines that largely cancelled out.

    Intl Developed market region icon

  • Emerging Mrkts

    4.99% of XEQT

    • XEC.TO
    +0.33% +0.02 pts to XEQT

    XEC.TO rose 0.33%, the strongest sleeve gain of the session, adding 0.02 percentage points to XEQT. South Korean equities surged 2.63% within the tracked positions, rebounding from one of the market's steepest recent declines as investors targeted major semiconductor shares ahead of Micron's earnings. Taiwan and China both posted small declines, and South Africa fell 2.74%, but South Korea's weight made it the decisive driver of the sleeve's positive close.

    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.

The Hold Line

Canada's drag was real but contained by its weight in the fund: a sleeve contributing 25% of XEQT absorbed losses in materials and energy without pulling the whole portfolio into meaningful negative territory. The three other sleeves were collectively positive on the day, and emerging markets posted the strongest gain, lifted by South Korea's sharp rebound. A 0.13% decline on a day when crude fell more than 4% and gold dropped more than 3% reflects how geographic breadth muted what was, for the TSX, a punishing commodity session.

Signals

  • 01

    Commodity selloff hits Canadian sectors hard

    WTI crude oil, a benchmark for global energy prices, fell 4.53% to settle near $69.89, its sharpest single-day decline in recent weeks. Canadian materials and energy combined accounted for more than 1.1 percentage points of drag within the Canada sleeve, making commodity prices the clearest sector story of the session.

  • 02

    South Korea rebounds sharply within EM sleeve

    South Korean equities rebounded 2.63% within the tracked emerging markets positions, recovering a portion of the prior session's steep losses as bargain hunters targeted semiconductor names ahead of Micron's results. For XEQT holders, this illustrated how intra-sleeve divergence can matter as much as the sleeve's headline return: South Korea's gain nearly offset losses from Taiwan, China, and South Africa combined.

  • 03

    VIX rises as U.S. sectors rotate defensively

    The VIX, which measures expected near-term volatility in U.S. equities, rose 7.81% to 18.63, a notable move even if it remains below levels that signal broad market stress. Within the U.S. sleeve, technology and communication services were negative while industrials and consumer discretionary rose, a split consistent with investors rotating away from higher-beta names in a more cautious tape.

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May 28 to Jun 24 · $44.36 → $44.88

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