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Open Edition. Monday, July 6, 2026

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$45.51
+0.11%

Headline

XEQT edges up 0.11% in early trading as U.S. technology gains are absorbed by sector-level weakness

In early trading, XEQT was up 0.11% at $45.51, a muted open that masks meaningful divergence beneath the surface. U.S. technology was notably stronger among the sectors tracked within the U.S. sleeve, consistent with a reported rebound in AI-linked shares, yet health care and consumer staples moved in the opposite direction with enough force to leave the U.S. sleeve down 0.10% overall. The emerging markets sleeve was the lone outright positive among non-Canadian sleeves, up 0.11%, led by broad gains across South Korea, Taiwan, and China. Canada was essentially flat, as a sharp decline in materials offset strength in financials.

How large is this morning's move?

Typical day · This morning's +0.11% 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

    24.86% of XEQT

    • XIC.TO
    +0.01% +0.00 pts to XEQT

    The Canadian sleeve was nearly unchanged at +0.01%, contributing virtually nothing to XEQT's move. Within the sectors tracked, financials were the standout, adding roughly 0.26 pp at the sleeve level and keeping Canada in positive territory. Materials fell 1.48%, dragging the sleeve in the opposite direction by a comparable margin; resources stocks were under pressure early in the session.

    Canada market region icon

  • United States

    45.74% of XEQT

    • XTOT.TO
    • ITOT
    -0.10% -0.05 pts from XEQT

    The U.S. sleeve dipped 0.10%, contributing about -0.05 pp to XEQT. Technology was sharply higher among sectors tracked, up 2.50%, consistent with the reported AI rebound. Health care fell 1.96% and consumer staples declined 1.25%, providing enough drag to more than offset technology's contribution. Part of today's move may reflect U.S. sleeve catch-up after the prior U.S. market closure.

    United States market region icon

  • Intl Developed

    24.44% of XEQT

    • XEF.TO
    -0.13% -0.03 pts from XEQT

    XEF.TO fell 0.13% in early trading, contributing -0.03 pp to XEQT. Japan was the dominant driver among the markets tracked, rising 2.06% and adding over 0.52 pp at the sleeve level. That strength was more than offset by declines in Switzerland, down 1.22%, and the United Kingdom, down 0.46%, which together pulled the sleeve into negative territory despite broad gains elsewhere in Europe.

    Intl Developed market region icon

  • Emerging Mrkts

    4.81% of XEQT

    • XEC.TO
    +0.11% +0.01 pts to XEQT

    Emerging markets were the brightest sleeve early in the session, with XEC.TO up 0.11%. South Korea surged 6.03% among the markets tracked, though the Korea Times noted the KOSPI was battling heavy foreign and institutional selling to hold above the 8,000 level. Taiwan-related equities rose 2.11% and Chinese equities added 1.91% among the exposures covered, lending breadth to the sleeve's gain.

    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 0.11% move in early trading is well below the recent 20-day average absolute move of 0.62%, suggesting little directional conviction in the opening session. The more telling story is internal: three sleeves pulled in different directions, yet the fund barely moved, reflecting a portfolio where regional dispersion is absorbing rather than amplifying noise. Emerging markets, often the most volatile sleeve, are the quiet outperformer here on strong breadth across South Korea, Taiwan, and China. The session reopens U.S. pricing after the Independence Day closure, so the full picture will sharpen as the session progresses.

Signals

  • 01

    U.S. sector rotation masks tech rebound

    U.S. technology rose 2.50% among the sectors tracked within the U.S. sleeve while health care fell 1.96%, a spread of more than 4 percentage points between two major sectors in a single morning. For XEQT holders, this degree of within-sleeve rotation is worth watching; it keeps the U.S. sleeve near flat rather than pushing it decisively in either direction.

  • 02

    CAD weakness widens U.S. component gap

    XTOT, the CAD-listed U.S. sleeve component, fell 0.62% while the CAD-adjusted return on the USD-listed component was +0.79%, a gap of 1.41 pp driven in part by CAD weakening 0.18% against the U.S. dollar. For a Canadian-dollar investor in XEQT, currency moves of this size can meaningfully shift how U.S. returns land in the portfolio, even on a session when the headline sleeve return looks modest.

  • 03

    South Korea surge absorbed by EM breadth

    South Korea rose 6.03% among the emerging market exposures tracked, yet the emerging markets sleeve gained only 0.11%, reflecting the sleeve's broader composition across Taiwan, China, and other markets that moved more modestly. The concentration of a large single-country move within a diversified sleeve illustrates how XEC.TO's construction can absorb sharp country-level swings without translating them fully into the fund.

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Key events from the last 20 days

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Jun 8 to Jul 6 · $44.07 → $45.51

+3.27%