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Close Edition. Wednesday, July 8, 2026

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$44.89
-0.71%

Headline

XEQT pares midday losses to close down 0.71% as Iran tensions roil three of four sleeves

XEQT closed down 0.71%, paring a steeper midday loss of 0.91% as equity markets partially recovered from the morning's Iran-driven selloff. President Trump's declaration that the ceasefire with Iran was over sent oil prices surging more than 6% and weighed on equity markets globally, though U.S. technology stocks recovered to finish higher and emerging markets turned positive. The largest drag came from the international developed sleeve, down 1.04%, with Canada close behind at -0.94%. The U.S. sleeve finished down just 0.35%, supported by a meaningful rebound in technology, while emerging markets contributed a small positive 0.014 percentage points.

How large is today's move?

Typical day · Today's -0.71% move is 1.2× 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

    25.11% of XEQT

    • XIC.TO
    -0.94% -0.24 pts from XEQT

    Canada's sleeve fell 0.94%, contributing -0.237 percentage points to XEQT. The session was defined by a sharp split between sectors: financials declined 1.82% and materials fell 3.18%, together accounting for the bulk of the weakness, while energy surged 3.83% on the back of WTI crude's 6.26% rise. That energy rebound limited what would otherwise have been a considerably steeper loss for the sleeve.

    Canada market region icon

  • United States

    45.36% of XEQT

    • XTOT.TO
    • ITOT
    -0.35% -0.16 pts from XEQT

    The U.S. sleeve ended down just 0.35%, the smallest decline among the three negative sleeves and contributing -0.161 percentage points. Technology rose 1.24%, providing meaningful offset against broad weakness elsewhere, particularly in financials (-1.93%), consumer discretionary (-1.78%), and communication services (-1.41%). The Nasdaq's recovery helped pull the sleeve well off its midday lows.

    United States market region icon

  • Intl Developed

    24.43% of XEQT

    • XEF.TO
    -1.04% -0.25 pts from XEQT

    The international developed sleeve was the session's largest drag, falling 1.04% and contributing -0.254 percentage points. Among the markets tracked, the United Kingdom was the steepest decliner at -1.36%, with the FTSE falling more than 1% following Trump's Iran announcement. Germany fell 1.76% as the DAX shed nearly 600 points. Japan declined 0.57%, weighed by technology stocks tracking overnight Nasdaq weakness. The Netherlands and Singapore provided modest offsets within the covered exposures.

    Intl Developed market region icon

  • Emerging Mrkts

    4.82% of XEQT

    • XEC.TO
    +0.29% +0.01 pts to XEQT

    Emerging markets was the session's standout, finishing up 0.29% and contributing +0.014 percentage points. Taiwan-listed equities rose 1.98% and Chinese markets gained 2.07%, together providing enough strength to more than offset declines in India (-1.38%) and South Africa (-1.42%). South Korea added a modest 0.79% gain. The sleeve's positive close amid broad global weakness underscored the divergent dynamics within XEQT's emerging market exposure.

    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

The afternoon partial recovery, paring a -0.91% midday loss to -0.71% at close, reflects how quickly the market recalibrated once early Iran-driven selling found a floor. What stands out is the internal tension: three sleeves declined while emerging markets closed in positive territory, driven by strength in Taiwan, China, and South Korea. That geographic split is worth noting as a structural feature of this fund, not a one-day coincidence. With XEQT still up more than 12% year-to-date, a session shaped by geopolitical noise rather than a fundamental shift in corporate earnings leaves the long-term picture intact.

Signals

  • 01

    Oil spike splits Canadian sectors

    WTI crude oil, a benchmark for global oil prices, surged 6.26% after Trump declared the Iran ceasefire over, raising concerns about supply disruptions. For XEQT holders, this explains the sharp contrast between Canadian energy's 3.83% gain and the 3.18% drop in Canadian materials on the same day, producing a sleeve-level outcome that masked very different sectoral outcomes.

  • 02

    U.S. tech offsets broad sector weakness

    U.S. technology rose 1.24% within a sleeve that declined across five of seven tracked sectors, making it the single largest within-sleeve contributor at +0.426 percentage points and the main reason the U.S. sleeve finished at only -0.35%. Without that sector recovery, the U.S. contribution to XEQT's overall decline would have been substantially larger.

  • 03

    VIX rise moderates into close

    The VIX, a measure of expected near-term volatility in U.S. equities, rose 4.77%, consistent with the risk-off tone that weighed on most global markets. Yet XEQT's afternoon recovery of 0.20 percentage points from its midday low suggests that initial selling pressure eased as the session progressed, and the day's -0.71% move remains within 1.2 times the fund's recent 20-day average daily move.

Keeping Perspective

XEQT has been here before

Today's dip may feel worrying, but XEQT is a globally diversified fund designed to be held for the long term. Comparable declines have happened before. The examples below are the closest prior moves in XEQT's own history and show what followed.

This is a new feature of the brief. If anything looks off, contact us.

Hover or drag across a chart to explore its recovery timeline.

Comparable days

  • -0.71% on Jan 17, 2023

    Recovered in 4 days

    Day of drop Jan 16 to Jan 17

    $25.68 $25.50 -0.71%

  • -0.71% on Apr 11, 2022

    Recovered in 5 days

    Day of drop Apr 8 to Apr 11

    $26.44 $26.25 -0.71%

  • -0.71% on Nov 12, 2020

    Recovered in 1 day

    Day of drop Nov 11 to Nov 12

    $23.03 $22.87 -0.71%

  • -0.71% on Oct 25, 2023

    Recovered in 5 days

    Day of drop Oct 24 to Oct 25

    $25.56 $25.38 -0.71%

Recovery durations represent day counts from first drop. Red represents path to lowest point in a plot. Green represents the recovery from it.

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Jun 10 to Jul 8 · $43.42 → $44.89

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