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Open Edition. Wednesday, July 8, 2026

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$44.84
-0.82%

Headline

XEQT falls 0.82% in early trading as Trump ends Iran ceasefire and equities retreat broadly

XEQT was trading at $44.84, down 0.82%, in early trading as President Trump's declaration that the U.S.-Iran ceasefire is over sent oil prices surging and weighed on equities across all four sleeves. The international developed sleeve is the sharpest individual drag, contributing roughly 0.29 percentage points to the decline, while the U.S. sleeve adds another 0.30 pp of pressure on broad sector weakness. Canadian energy is a rare bright spot, rising 1.42% as WTI crude climbs more than 4%, though that gain is more than offset by losses in materials and financials.

How large is this morning's move?

Larger-than-usual day · This morning's -0.82% move is 1.3× 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
    -0.85% -0.21 pts from XEQT

    Canada's sleeve is down 0.85%, contributing 0.21 pp to XEQT's decline, with renewed Middle East tensions reviving inflation concerns and weighing on the TSX. Materials are the heaviest drag among tracked sectors, falling 2.36%, likely pressured by a 1.76% drop in gold. Financials, the sleeve's largest sector, add to the losses, while energy provides the only meaningful offset, climbing 1.42% on surging crude prices.

    Canada market region icon

  • United States

    45.36% of XEQT

    • XTOT.TO
    • ITOT
    -0.66% -0.30 pts from XEQT

    The U.S. sleeve is off 0.66%, the largest absolute contributor to XEQT's drop at 0.30 pp. Consumer discretionary leads the decline among tracked sectors at 1.75%, followed by financials at 1.17%. Technology, despite being the sleeve's dominant weight, is holding near flat at up 0.16%, which is limiting the overall damage from the largest sleeve.

    United States market region icon

  • Intl Developed

    24.43% of XEQT

    • XEF.TO
    -1.19% -0.29 pts from XEQT

    International developed markets are the steepest sleeve-level decliner at 1.19%, contributing 0.29 pp to XEQT's drop. Europe is broadly lower: the FTSE, DAX, and Ibex are all under pressure as the end of the Iran ceasefire reignites geopolitical risk across the region, and France's bond yields are climbing alongside oil. Japan, the sleeve's largest weight at roughly 25%, is down 1.36% among tracked markets, extending losses from prior sessions, with AI valuation concerns adding to the Iran-driven caution.

    Intl Developed market region icon

  • Emerging Mrkts

    4.82% of XEQT

    • XEC.TO
    -0.36% -0.02 pts from XEQT

    The emerging markets sleeve is down just 0.36%, contributing a modest 0.02 pp to XEQT's decline, as sharp internal offsets define the early picture. South Korea is down 2.14% amid ongoing AI valuation concerns in semiconductor-heavy markets, while China-related equities are up 1.91% and Taiwan-related equities are up 0.77% among tracked exposures, together absorbing much of the pressure from the rest of the sleeve.

    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 move of this size sits squarely within the normal range, just 1.3 times the recent 20-day average daily swing. What stands out early is the breadth: all four sleeves are negative, yet the smallest, emerging markets, is absorbing its pressure through sharp internal offsets. The U.S. technology sector, by far the largest single exposure in XEQT, is roughly flat so far, which is keeping the fund's decline from deepening further. Geopolitical flare-ups of this kind have a history of rapid repricing in energy and a rebound in broader risk assets once the initial shock settles.

Signals

  • 01

    Oil spike offsets Canada energy gains

    WTI crude oil, which tracks the U.S. benchmark price for a barrel of oil, is up more than 4% in early trading after Trump declared the U.S.-Iran ceasefire over, the largest single-day commodity move visible in today's data. Canadian energy is the only XEQT sleeve sector with a meaningful positive return, rising 1.42%, though that gain falls well short of offsetting losses elsewhere in the Canadian and global sleeves.

  • 02

    VIX rises as all sleeves retreat

    The VIX, a measure of expected near-term volatility in U.S. equity markets derived from options prices, is up 6.70% to 17.21, signaling rising investor caution across the session. All four XEQT sleeves are negative in early trading, a breadth pattern consistent with the kind of broad risk reduction the VIX move suggests, though at 17 the index remains well within a historically moderate range.

  • 03

    Gold drops despite geopolitical flare-up

    Gold, often sought as a safe haven during geopolitical stress, is down 1.76% despite the Iran ceasefire collapsing, a notable divergence given the same news is driving oil sharply higher. Within the Canada sleeve, this gold weakness is consistent with materials falling 2.36% among tracked sectors, making that sector the single largest drag inside the Canadian sleeve even as energy surges.

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Key events from the last 20 days

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Jun 10 to Jul 8 · $43.42 → $44.84

+3.28%