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Close Edition. Tuesday, August 11, 2026

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$45.94
-0.24%

Headline

U.S. equities weigh on XEQT as Hormuz uncertainty lifts oil and clouds inflation outlook

XEQT closed down 0.24% at $45.94, a modest extension of the weakness that had already settled in by midday. The U.S. sleeve, at roughly 45% of the fund, was responsible for most of the drag, declining 0.38% as deadlocked U.S.-Iran negotiations over the Strait of Hormuz kept oil elevated and investors cautious ahead of Wednesday's inflation data. Canada edged up 0.10%, and emerging markets added a sliver, while international developed markets closed slightly lower, keeping the loss contained.

How large is today's move?

Typical day · Today's -0.24% move is 0.4× 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

    25.52% of XEQT

    • XIC.TO
    +0.10% +0.03 pts to XEQT

    Canada added to its all-time highs, with the S&P/TSX Composite finishing modestly positive. Energy rose 0.70% as WTI crude climbed 1.62% on Middle East supply concerns, and utilities surged 1.84%, together more than offsetting declines in financials and information technology. The sector mix meant the Canadian sleeve's contribution to XEQT was a narrow but positive 0.03 percentage points.

    Canada market region icon

  • United States

    45.26% of XEQT

    • XTOT.TO
    • ITOT
    -0.38% -0.17 pts from XEQT

    The U.S. sleeve fell 0.38%, supplying roughly two-thirds of XEQT's total decline. Losses among the tracked sectors were broad: communication services, consumer discretionary, health care, and consumer staples all closed lower, and technology dipped as well. Industrials and energy were the exceptions, both rising, with energy gaining 1.25% consistent with higher crude prices. Investors appeared to be repositioning ahead of the July inflation report due Wednesday, with the stalled Iran talks adding to uncertainty.

    United States market region icon

  • Intl Developed

    24.43% of XEQT

    • XEF.TO
    -0.21% -0.05 pts from XEQT

    The international developed sleeve edged down 0.21%, contributing about five basis points of drag. Within the tracked markets, the United Kingdom fell 0.39% as insurers and Spirax weighed on the FTSE 100, while Switzerland and Sweden also declined. Japan rose 0.24% and the Netherlands gained 1.02%, which partially offset the weakness. Germany closed nearly flat and Spain added 0.35%, with energy names among the contributors as elevated oil prices supported parts of the European market.

    Intl Developed market region icon

  • Emerging Mrkts

    4.64% of XEQT

    • XEC.TO
    +0.16% +0.01 pts to XEQT

    Emerging markets closed up 0.16%, though the sleeve's small weight in XEQT kept that gain to under one basis point of contribution. The result masked sharp internal divergence: Taiwan-listed equities rose 1.72% as bargain hunters returned to electronic component stocks despite ongoing Middle East tensions, and South Korean equities advanced 2.53%, led by semiconductor names on strong export data. China fell 2.30% and Brazil dropped 3.44%, absorbing most of those gains and leaving the sleeve only narrowly positive.

    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 session illustrated how three-quarters of XEQT's weight can pull in one direction while the other quarter cushions the outcome. Canada's narrow gain and the resilience among Northeast Asian equities within the emerging markets sleeve kept the fund's decline well below its recent average daily move of 0.62%. Uncertainty ahead of Wednesday's U.S. inflation release was visible in the breadth of the U.S. decline, where losses were spread across most tracked sectors. A 0.24% decline on a day of genuine macro ambiguity reflects a portfolio functioning as designed.

Signals

  • 01

    Oil rise splits energy from broad market

    WTI crude rose 1.62% to $83.46, reflecting persistent uncertainty over Strait of Hormuz negotiations between the U.S. and Iran. Within the covered sectors, Canadian and U.S. energy were among the only areas that advanced, while oil-price uncertainty appeared to weigh on broader equity sentiment and complicate the inflation picture ahead of Wednesday's U.S. CPI release.

  • 02

    Treasury yield dips but rate-sensitive sectors still fall

    The 10-year U.S. Treasury yield, a benchmark that shapes borrowing costs across the economy, slipped slightly to 4.684%. Within the U.S. sleeve, rate-sensitive sectors including utilities and consumer staples still declined, suggesting that the modest yield move was not sufficient to provide relief on a day when oil-driven inflation concerns dominated the session's tone.

  • 03

    Sharp EM divergence masks near-flat sleeve

    Emerging markets produced their largest internal spread of recent sessions, with South Korean equities up 2.53% and Taiwan up 1.72% while China fell 2.30% and Brazil dropped 3.44%. Because the sleeve represents only 4.64% of XEQT, the net effect was minimal, but the divergence underscores how differently individual emerging economies are responding to the same geopolitical backdrop.

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Jul 14 to Aug 11 · $45.00 → $45.94

+2.09%