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Open Edition. Monday, August 24, 2026

Curated market context for passive investors.

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$45.60
+0.04%

Headline

XEQT edges higher as emerging market weakness offsets North American gains.

XEQT is virtually flat in early trading as weakness in emerging markets offsets modest strength in North American and international developed equities. The U.S. sleeve, the fund's largest at 44.8% of the portfolio, edged up 0.12%, while Canada and international developed markets each added small gains. Emerging markets, however, declined 1.24%, dragging the overall fund by nearly 0.06 percentage points. South Korea fell sharply on disappointing Samsung shareholder announcements, while Taiwan and China also weakened. The Canadian dollar fell 0.48% against the U.S. dollar, providing a modest currency tailwind to U.S. equity returns when translated into Canadian dollars.

How large is this morning's move?

Typical day · This morning's +0.04% move is <0.1× 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

    25.92% of XEQT

    • XIC.TO
    -0.09% -0.02 pts from XEQT

    The Canadian sleeve declined 0.09% in early trading, with Canadian materials offsetting losses elsewhere. Mining and industrial stocks diverged sharply: materials rose 0.67% while industrials fell 1.73% and energy declined 0.83%. Financials, the largest Canadian sector, held relatively steady at minus 0.12%. Trade tensions and a weakening Canadian dollar dominated sentiment as the session opened.

    Canada market region icon

  • United States

    44.80% of XEQT

    • XTOT.TO
    • ITOT
    +0.12% +0.05 pts to XEQT

    The U.S. sleeve gained 0.12% as financial and consumer-focused sectors advanced while technology weakened. Technology fell 2.20%, a notable drag given its 34.8% weight within the U.S. components tracked. Financials rose 1.45% and consumer staples climbed 1.54%, suggesting some flight toward more defensive exposure. Communication services added 0.71%, offsetting technology's pressure. The blended U.S. return reflects strength in rate-sensitive and defensive sectors as Treasury yields declined.

    United States market region icon

  • Intl Developed

    24.42% of XEQT

    • XEF.TO
    +0.13% +0.03 pts to XEQT

    International developed markets advanced 0.13%, with the United Kingdom providing the primary lift at plus 0.33%. Japan, the largest developed-market holding at 25% of the sleeve, declined 0.68%, while continental European markets including France, Germany, and the Netherlands all recorded small losses. Spain's 0.40% gain and the UK's strength offset the broader regional softness. Yields and trade concerns weighed on the larger developed economies.

    Intl Developed market region icon

  • Emerging Mrkts

    4.74% of XEQT

    • XEC.TO
    -1.24% -0.06 pts from XEQT

    Emerging markets fell 1.24%, driven by sharp declines in South Korea, Taiwan, and China. South Korea plummeted 3.49% following disappointing shareholder return announcements from Samsung Electronics, the country's largest company. Taiwan dropped 1.21% and China fell 1.54%, combining to account for most of the sleeve's loss. Saudi Arabia and Brazil provided modest offsets with gains of 1.85% and 0.23% respectively, but could not overcome the weight of the major Asian markets' weakness.

    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

The session remains characterised by modest net gains across three sleeves offset by emerging market weakness, a pattern consistent with rotation away from higher-risk exposures. The VIX has risen 4.56% and Treasury yields have declined, suggesting investors are recalibrating amid an eventful week ahead. For a long-term XEQT holder, a move of this magnitude is well within normal range, and the rolling one-month trajectory of plus 2.28% continues to anchor a disciplined outlook.

Signals

  • 01

    Samsung disappointment drives Korean market plunge

    South Korea fell 3.49% in early trading following Samsung's shareholder return plan announcement that disappointed investors, dragging the entire emerging markets sleeve lower. This concentrated weakness in a single country underscores the importance of emerging markets' regional concentration for XEQT holders, as semiconductor-heavy exposures face additional near-term volatility.

  • 02

    VIX rise and yield decline signal week-ahead caution

    The VIX rose 4.56% to 15.82 while Treasury yields declined 0.68%, signalling a modest increase in risk aversion ahead of a week that includes Nvidia earnings, the PCE inflation report, and Federal Reserve Chair remarks. This risk-off tilt is visible in the weakness of growth-oriented emerging markets and technology, though it remains a restrained move in historical context and does not indicate a major shift in market regime.

  • 03

    CAD weakness boosts U.S. sleeve returns

    The Canadian dollar weakened 0.48% against the U.S. dollar, automatically boosting the return on U.S. dollar-denominated assets when translated into Canadian dollars. This currency effect added approximately 0.48 percentage points to ITOT's translated CAD return, offsetting weak underlying U.S. equity performance and supporting the overall 0.12% U.S. sleeve gain on a CAD basis.

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Jul 27 to Aug 24 · $44.79 → $45.60

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