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Close Edition. Monday, July 13, 2026

Curated market context for passive investors.

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$45.01
-0.75%

Headline

XEQT closes down 0.75% as U.S.-Iran escalation and a chip-stock selloff pull all four sleeves lower

XEQT closed down 0.75% at $45.01, about 1.7 times the fund's recent average daily move, as renewed U.S.-Iran military exchanges pushed WTI crude oil up 9.5% and weighed on risk assets globally. All four regional sleeves finished negative. The U.S. sleeve contributed the largest drag at roughly 0.32 percentage points, with chip stocks leading technology lower amid fresh AI-trade skepticism. Emerging markets, though a smaller sleeve, added a disproportionate 0.17 percentage points of drag as South Korean and Taiwanese technology equities fell sharply.

How large is today's move?

Larger-than-usual day · Today's -0.75% move is 1.7× 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

    25.06% of XEQT

    • XIC.TO
    -0.07% -0.02 pts from XEQT

    Canada was the smallest drag on XEQT, contributing just 0.018 percentage points of decline. Within the tracked sectors, energy rose 3.2%, lifted by surging crude prices, while materials fell 2.4% as gold declined 2.6% on the day. The net effect left the sleeve nearly flat, with financials adding a modest headwind.

    Canada market region icon

  • United States

    45.61% of XEQT

    • XTOT.TO
    • ITOT
    -0.70% -0.32 pts from XEQT

    Technology was the session's clearest drag within the U.S. sleeve, falling 2.4% among the sectors tracked and accounting for the bulk of the sleeve's 0.70% decline. A broader chip-stock selloff, linked to renewed skepticism around AI valuations, dampened sentiment across the largest sleeve. U.S. energy stocks rose 3.0%, and financials gained 0.65%, but neither was large enough to offset technology's weight.

    United States market region icon

  • Intl Developed

    24.33% of XEQT

    • XEF.TO
    -1.02% -0.25 pts from XEQT

    The international developed sleeve fell 1.02% and contributed 0.249 percentage points of drag. Japan was the heaviest detractor among the markets tracked, declining 1.9%, while European markets were broadly softer as U.S.-Iran tensions unsettled sentiment. Germany moved roughly sideways despite the geopolitical backdrop, and the UK was little changed as energy gains offset financial weakness.

    Intl Developed market region icon

  • Emerging Mrkts

    4.87% of XEQT

    • XEC.TO
    -3.49% -0.17 pts from XEQT

    Emerging markets delivered the session's most acute move, falling 3.49% for a 0.17 percentage point drag despite representing less than 5% of XEQT. South Korean equities fell 8.5% among the markets tracked, with technology names including SK Hynix erasing the prior session's U.S. debut gains. Taiwan-listed equities dropped 4.1% in the tracked exposure, rounding out the decline across the two largest technology-heavy emerging market allocations.

    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

All four sleeves declined, yet the fund's damage was partially contained by opposing forces within two of them: energy producers in both Canada and the U.S. posted significant gains, partially offsetting technology and materials losses. The session illustrates how sector-level divergence can cushion a broad risk-off move. The outsized decline in emerging market equities, particularly South Korean and Taiwan-listed technology names, is worth monitoring given the sleeve's recent strong year-to-date trajectory, though at under 5% of XEQT its weight limits structural damage. The broader session reflects a geopolitically driven shock rather than a fundamental shift in the fund's long-term positioning.

Signals

  • 01

    Crude surge splits energy from equities

    WTI crude oil, a benchmark for global petroleum prices, jumped 9.5% after President Trump announced a blockade on Iranian ports and U.S.-Iran military exchanges intensified over the weekend. Within the sectors tracked, energy producers in both Canada and the U.S. rose more than 3%, partially offsetting broader equity weakness and demonstrating how commodity price shocks can create offsetting forces within the same session.

  • 02

    VIX jump signals broad risk aversion

    The VIX, which measures expected near-term volatility in U.S. equities, rose 14.2% on the day, a reading consistent with genuine cross-sleeve risk aversion rather than isolated sector rotation. All four XEQT sleeves finished negative, a pattern that reinforces the geopolitical rather than sector-specific nature of the session's pressure.

  • 03

    Asian chip names drive EM decline

    South Korean equities fell 8.5% and Taiwan-listed equities dropped 4.1% among the markets tracked in the emerging markets sleeve, combining for the largest within-sleeve drag seen in the covered exposures. For an XEQT holder, the sleeve's small weight limited the fund-level damage, but the concentration of risk in Asian semiconductor names is a pattern worth tracking given the sleeve's strong year-to-date run.

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.

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

Comparable days

  • -0.75% on Oct 23, 2024

    Recovered in 3 days

    Day of drop Oct 22 to Oct 23

    $33.53 $33.28 -0.75%

  • -0.75% on Jul 7, 2026

    Not yet recovered

    Day of drop Jul 6 to Jul 7

    $45.55 $45.21 -0.75%

  • -0.76% on Oct 21, 2025

    Recovered in 3 days

    Day of drop Oct 20 to Oct 21

    $40.07 $39.77 -0.76%

  • -0.76% on Jan 17, 2024

    Recovered in 2 days

    Day of drop Jan 16 to Jan 17

    $28.04 $27.83 -0.76%

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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Event Window

Key events from the last 20 days

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Jun 15 to Jul 13 · $45.28 → $45.01

-0.60%