This is the close brief for Fri, Jul 3, 2026. View latest

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Close Edition. Friday, July 3, 2026

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$45.46
+0.75%

Headline

Non-U.S. sleeves drive XEQT higher as global markets advance on a shortened trading week.

XEQT closed up 0.75% at $45.46 on a session shaped by strength outside the United States, where cash-equity markets were shuttered for Independence Day. The international developed sleeve rose 0.99%, contributing 0.24 percentage points, while Canada added 0.21 pp on a broad TSX rally. Emerging markets delivered the session's sharpest sleeve gain at 2.72%, contributing 0.13 pp, largely on a sharp rebound in South Korean equities. The U.S. sleeve, drawing on Canadian-listed instruments in the absence of live pricing, posted a small decline of 0.36%, trimming 0.16 pp from the total; with U.S. cash markets closed, that figure is indicative rather than definitive.

How large is today's move?

Typical day · Today's +0.75% move is 1.1× 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

    24.86% of XEQT

    • XIC.TO
    +0.86% +0.21 pts to XEQT

    The TSX rose sharply, with materials the clearest engine: the sector gained 2.23% and contributed roughly 0.37 percentage points within the Canadian sleeve alone. Gold's 1.49% advance supported miners while softer U.S. jobs data eased expectations of near-term Federal Reserve rate increases, a combination that gave the broader index its most decisive single-day gain of recent weeks. Industrials and financials added further support, and all 11 TSX sectors finished higher.

    Canada market region icon

  • United States

    45.74% of XEQT

    • XTOT.TO
    -0.36% -0.16 pts from XEQT

    With U.S. equity markets closed, the sleeve's return of -0.36% is derived from Canadian-listed instruments and should be treated as indicative. Among the sectors tracked, technology and health care instruments posted gains, while the overall sleeve came in modestly negative, possibly reflecting currency or compositional effects. Live U.S. pricing resumes Monday.

    United States market region icon

  • Intl Developed

    24.44% of XEQT

    • XEF.TO
    +0.99% +0.24 pts to XEQT

    The sleeve's 0.99% gain was the second-largest contributor to XEQT. Japan led among the tracked markets, rising 1.76% and supplying 0.45 pp within the sleeve. European markets also advanced broadly: the DAX closed at a new record and Spain's Ibex reached a historic high above 19,850 points, marking its fourth consecutive weekly gain. Weaker U.S. jobs data and receding AI-trade anxiety provided the backdrop for the rally across the region.

    Intl Developed market region icon

  • Emerging Mrkts

    4.81% of XEQT

    • XEC.TO
    +2.72% +0.13 pts to XEQT

    South Korea delivered the session's standout move among tracked markets, surging 5.76% as investors returned to semiconductor shares following the prior session's sell-off. The Kospi reclaimed the 8,000 level, its third such recovery this cycle, contributing 1.17 pp within the emerging markets sleeve. Taiwan and China were comparatively subdued, advancing 0.08% and 0.19% respectively, so South Korea's rebound was the dominant force behind the sleeve's 2.72% gain.

    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

Three of the four sleeves rose on a day when the U.S. cash-equity market was simply absent, which makes the breadth more notable, not less. The fund's largest absolute contributor was the international developed sleeve, while Canada's materials-led surge added nearly equal weight. A session where non-U.S. markets carry the load is a concrete demonstration of why geographic diversification shapes outcomes; today the numbers make that point without embellishment. The four-session winning run keeps XEQT close to its 52-week high, with the path there built on more than one region's shoulders.

Signals

  • 01

    South Korea chip rebound dominates EM sleeve

    South Korea's 5.76% advance, driven by bargain-buying in semiconductor stocks after the prior session's decline, was the single largest within-sleeve contributor tracked across any region. For XEQT holders, this illustrates how extreme single-day volatility within a sub-sleeve can produce outsized recoveries even when the broader fund moves modestly.

  • 02

    Gold lifts Canadian materials sector

    Gold rose 1.49%, reflecting reduced expectations for near-term Federal Reserve rate increases after soft U.S. jobs data; that move fed directly into Canadian materials stocks, which gained 2.23% and accounted for the largest identifiable sector contribution within the Canadian sleeve. The connection between the gold price and the TSX's materials weighting gave Canada a catalyst that was independent of U.S. market direction.

  • 03

    Three sleeves advance without U.S. market

    With U.S. cash markets closed, three of XEQT's four geographic sleeves produced positive returns, and the fund's overall gain of 0.75% exceeded its recent 20-day average move of 0.72%. The day underscores that XEQT's exposure to Canada, developed international markets, and emerging economies can generate meaningful returns even when U.S. equity pricing is unavailable.

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Key events from the last 20 days

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Jun 5 to Jul 3 · $43.88 → $45.46

+3.60%