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Open Edition. Thursday, July 2, 2026

Curated market context for passive investors.

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$45.33
+0.51%

Headline

International developed markets lead XEQT higher as a chip-share selloff pressures emerging markets

XEQT is reopening after the Canada Day holiday, so early trading may include price discovery from markets that moved while the TSX was closed. In early trading, XEQT was up 0.51% at $45.33, with three of four sleeves advancing. International developed markets led with a +1.24% gain, contributing +0.302 pp, while the U.S. and Canadian sleeves added +0.212 pp and +0.152 pp respectively. A chip-share selloff that hit South Korea hard weighed on the emerging markets sleeve, which fell 1.86% and subtracted 0.093 pp, keeping the fund's overall gain in check. A softer-than-expected U.S. jobs report appears to have supported equities broadly, consistent with European indices reaching fresh highs early in the session.

How large is this morning's move?

Typical day · This morning's +0.51% move is 0.7× 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

    24.87% of XEQT

    • XIC.TO
    +0.61% +0.15 pts to XEQT

    Canada's sleeve rose 0.61%, contributing +0.152 pp to XEQT early. The gain was driven by materials, which surged 2.76% as gold climbed 1.58%, and information technology, which added 1.97%. Canadian financials, the sleeve's largest segment, slipped 0.24%, acting as a partial offset.

    Canada market region icon

  • United States

    45.55% of XEQT

    • XTOT.TO
    • ITOT
    +0.47% +0.21 pts to XEQT

    The U.S. sleeve gained 0.47%, adding +0.212 pp. Technology rose 0.61% and health care climbed 1.29%, providing the broadest support among tracked sectors. Consumer discretionary and communication services each dipped modestly, consistent with the chip-related caution visible across markets. A softer jobs print appears to have reinforced bets that the Federal Reserve holds rates steady, lending support to the broader market.

    United States market region icon

  • Intl Developed

    24.37% of XEQT

    • XEF.TO
    +1.24% +0.30 pts to XEQT

    The strongest sleeve early, XEF.TO rose 1.24% for a +0.302 pp contribution. Among covered markets, the UK advanced 2.61%, Germany 2.90%, France 2.45%, and Switzerland 2.34%, with the DAX reportedly reaching a record after weak U.S. payroll data reduced rate-hike expectations. Japan gained 1.46% despite pressure on AI-related shares, supported partly by a stronger yen. The JPY/CAD rate rose 1.15%, amplifying Japan's return in Canadian dollar terms.

    Intl Developed market region icon

  • Emerging Mrkts

    5.01% of XEQT

    • XEC.TO
    -1.86% -0.09 pts from XEQT

    The emerging markets sleeve fell 1.86%, subtracting 0.093 pp. South Korea's Kospi dropped sharply, reported down nearly 8%, as semiconductor names bore the brunt of a sustained chip selloff. Taiwan-related equities bucked the trend, rising 2.31% among the areas tracked and contributing +0.629 pp within the sleeve, while India and Brazil also advanced. China slipped 0.48%, adding a modest additional drag.

    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

International developed markets delivered the largest single contribution to XEQT's early gain, at +0.302 pp, while the emerging markets sleeve subtracted 0.093 pp as chip-related selling weighed on South Korea. That cross-current, strength in Europe and Japan alongside weakness in parts of Asia, illustrates how the fund's geographic spread can absorb concentrated stress without reversing the overall direction. XEQT reopens from the Canada Day holiday trading at $45.33, and the early session reflects a day's worth of global information accumulated while the TSX was closed.

Signals

  • 01

    EM chip split: Korea down, Taiwan up

    South Korea's Kospi fell nearly 8% in a chip-share selloff, while Taiwan-related equities within the emerging markets sleeve rose 2.31%. The same semiconductor theme that hurt one major component powered the other, producing an unusually wide within-sleeve divergence that contained the net damage to 0.093 pp subtracted from XEQT.

  • 02

    Gold lifts Canadian materials sharply

    Gold rose 1.58%, lifting Canadian materials 2.76% and making that sector the dominant driver of the Canada sleeve's 0.61% gain. The divergence between materials and Canadian financials, which fell 0.24%, shows that the sleeve's positive contribution rested on a narrow commodity-driven base rather than broad sector strength.

  • 03

    Weak US jobs data drives European gains

    A softer U.S. jobs report pushed the 10-year Treasury yield fractionally lower and the US Dollar Index down 0.65%, conditions consistent with European indices reaching fresh highs. The DAX reportedly touched a record, the Ibex surpassed 19,700 points for the first time, and London's FTSE rose on defensive sectors, together explaining why the international developed sleeve led all four sleeves this morning.

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Jun 4 to Jul 2 · $45.06 → $45.33

+0.60%