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Open Edition. Thursday, July 9, 2026

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$45.16
+0.60%

Headline

XEQT rises 0.60% in early trading as all four sleeves advance amid steadying geopolitical sentiment

XEQT was trading at $45.16 in early trading, up 0.60%, as all four regional sleeves moved higher against a backdrop of steadying global markets after this week's escalation of U.S.-Iran hostilities. Canada provided the largest contribution at roughly 0.16 percentage points, lifted sharply by materials, while international developed markets added 0.12 percentage points on a tech-led rebound in Japan and parts of Europe. The U.S. sleeve contributed 0.11 percentage points and emerging markets added 0.05 percentage points, driven by strength in Taiwan and South Korea. Gold climbing 1.35% and copper rising 2.51% provided a supportive commodity backdrop for the session.

How large is this morning's move?

Typical day · This morning's +0.60% move is 1.0× 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

    25.03% of XEQT

    • XIC.TO
    +0.63% +0.16 pts to XEQT

    Canadian materials surged 2.03% among the sectors tracked, accounting for most of XIC's early gain, consistent with gold climbing to $4,137 and copper rising sharply. Financials added a further 0.15 percentage points within the sleeve, while energy fell 0.63%, a modest drag as WTI crude dipped nearly 1% to $72.81. The TSX opened narrowly higher with the materials strength doing the heavy lifting.

    Canada market region icon

  • United States

    45.44% of XEQT

    • XTOT.TO
    • ITOT
    +0.24% +0.11 pts to XEQT

    The U.S. sleeve gained 0.24%, with technology up 2.60% among tracked sectors providing the clear engine. Communication services and consumer staples were both down more than 1% in early trading, offsetting meaningful ground. A notable gap opened between XTOT, the CAD-listed U.S. component, which showed no change, and the CAD-adjusted return on ITOT at roughly 0.64%, reflecting the slightly weaker Canadian dollar translating U.S. gains more favourably; the blended sleeve return remains authoritative.

    United States market region icon

  • Intl Developed

    24.33% of XEQT

    • XEF.TO
    +0.51% +0.12 pts to XEQT

    Japan was the standout driver within this sleeve, with semiconductor and AI-related shares rebounding after three down sessions, pushing Japanese equities up 0.69% among tracked markets. European markets showed divergence: the Netherlands rose 1.30% and Spain gained 0.54% among covered markets, while the UK slipped 0.48%, weighed by AstraZeneca and lingering geopolitical caution. Easing oil prices and a shift in Trump's tone contributed to the European partial recovery.

    Intl Developed market region icon

  • Emerging Mrkts

    4.86% of XEQT

    • XEC.TO
    +1.11% +0.05 pts to XEQT

    Emerging markets led all sleeves with a 1.11% gain, driven by strength in Taiwan and South Korea, the two largest tracked exposures at roughly 28% and 20% of the sleeve respectively. Taiwan-listed equities rose 1.44% and South Korean equities gained 1.14% among tracked markets, with semiconductor momentum a visible thread across both. China added modestly at 0.39% and India rose 0.59%, broadening the advance.

    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

All four sleeves advancing simultaneously is relatively uncommon in sessions where geopolitical pressure remains live. What makes this session notable is not the size of the gain but its breadth: Canada's materials surge, emerging markets strength in semiconductor-heavy markets, and a European rebound together reached the same direction from very different starting points. The VIX, a gauge of implied equity volatility in U.S. options markets, is down to 16.64, consistent with markets absorbing, rather than amplifying, the Middle East backdrop. For a long-term holder, the session reflects the fund's geographic spread functioning as intended across a genuinely mixed macro environment.

Signals

  • 01

    U.S. tech diverges from defensive sectors

    U.S. technology rose 2.60% among tracked sectors while communication services fell 1.03% and consumer staples declined 1.27%, producing a stark rotation within the sleeve. The net U.S. sleeve return of 0.24% reflects this tug, meaning the headline U.S. contribution understates how concentrated the underlying strength actually was.

  • 02

    CAD weakness widens U.S. sleeve gap

    XTOT, the CAD-listed U.S. equity component, showed no return early in the session while the CAD-adjusted ITOT return reached approximately 0.64%, a gap of 0.64 percentage points driven largely by the Canadian dollar's slight softening against the U.S. dollar. For a Canadian-dollar holder of XEQT, the currency translation added to effective U.S. returns even on a day when the CAD-listed instrument barely moved.

  • 03

    Gold and copper lift materials broadly

    Gold rose 1.35% and copper climbed 2.51%, providing a supportive commodity backdrop that aligns with Canadian materials outperforming most other sectors tracked across the fund. When gold and copper rise together, it tends to reflect broad industrial and safe-haven demand simultaneously, and the materials surge in Canada is the clearest expression of that in today's sleeve data.

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Key events from the last 20 days

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Jun 11 to Jul 9 · $44.40 → $45.16

+1.71%