This is the close brief for Thu, Sep 3, 2026. View latest

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Close Edition. Thursday, September 3, 2026

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$45.80
+0.88%

Headline

XEQT rises 0.88% as Fed rate-patience signals lift all four sleeves

XEQT closed at $45.80, up 0.88% on the day, with gains that built steadily from the morning's more modest start. All four sleeves finished in positive territory, with Canada contributing the most. Remarks from Federal Reserve Governor Christopher Waller signaling patience on rate hikes eased Treasury yields and lifted risk appetite across markets, providing a coherent backdrop for the broad advance. At 2.4 times the recent 20-day average daily move, the session was meaningful in scale.

How large is today's move?

Notable day · Today's +0.88% move is 2.4× 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

    25.65% of XEQT

    • XIC.TO
    +1.52% +0.39 pts to XEQT

    Canada was the session's standout, with XIC rising 1.52% and contributing 0.39 percentage points to XEQT. Materials were the clearest driver among the tracked sectors, rising 3.06%, consistent with gold's 2.38% advance on the day. Financials added a substantial supporting contribution, rising 1.47%, while information technology climbed 3.78%. Energy was the lone drag, slipping 0.93% despite crude oil edging higher.

    Canada market region icon

  • United States

    44.92% of XEQT

    • XTOT.TO
    • ITOT
    +0.70% +0.31 pts to XEQT

    The U.S. sleeve rose 0.70%, adding 0.32 percentage points. Technology was the primary driver among the sectors tracked, gaining 1.29%, with financials and consumer discretionary also advancing. The Canadian dollar's 0.36% rise against the U.S. dollar reduced the CAD-translated return relative to the underlying USD move, a meaningful currency headwind that slightly muted what was otherwise a solid session for U.S. equities.

    United States market region icon

  • Intl Developed

    24.39% of XEQT

    • XEF.TO
    +0.83% +0.20 pts to XEQT

    XEF gained 0.83%, contributing 0.20 percentage points. Within the areas tracked, Japan was the largest positive force, rising 1.94% as the yen strengthened against the CAD by 1.15%, amplifying returns for Canadian holders. European markets also advanced broadly after three consecutive losing sessions, supported by easing bond yields and resilient PMI readings across the region. The UK, Switzerland, Australia, and Germany all posted gains in the range tracked.

    Intl Developed market region icon

  • Emerging Mrkts

    4.80% of XEQT

    • XEC.TO
    +0.09% +0.00 pts to XEQT

    XEC edged up 0.09%, a near-flat result that masked notable divergence within the sleeve. South Korea and Taiwan-related equities were among the stronger areas tracked, rising 0.95% and 0.64% respectively, while China and India posted modest declines. South Africa was the brightest spot among the smaller exposures tracked, advancing 2.61%, though its sleeve weight limited the broader contribution.

    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

A broad advance across all four sleeves, each positive and none dominant enough to mask weakness elsewhere, reflects genuine global participation rather than a single concentrated bet. The VIX, a measure of expected near-term volatility in U.S. equities, fell nearly 6%, and the 10-year Treasury yield pulled back, creating a constructive backdrop for rate-sensitive sectors. What the session reveals for a long-term XEQT holder is that the fund's geographic spread captured gains from Canada, the U.S., Europe, and most of the emerging world simultaneously. That breadth is the fund doing exactly what it was designed to do.

Signals

  • 01

    Yields ease, VIX falls in tandem

    The VIX, a gauge of the market's near-term fear or complacency in U.S. equities, fell 5.79% to 14.32, while the 10-year U.S. Treasury yield dropped 0.71% to 4.76%. These moves accompanied rate-sensitive sectors including financials and consumer discretionary advancing across both the Canadian and U.S. sleeves. For an XEQT holder, easing yields and a calmer volatility environment were the structural backdrop that made broad positive sleeve participation possible.

  • 02

    CAD strength mutes U.S. sleeve return

    The Canadian dollar rose 0.36% against the U.S. dollar, reducing the CAD-translated return of U.S. equities relative to their underlying USD performance. The raw U.S. equity move was closer to 1.05% in USD terms, but after currency translation the sleeve returned 0.70%. XEQT holders benefit from U.S. equity exposure but absorb this FX drag when the loonie strengthens, a reminder that currency direction shapes the sleeve's contribution even on broadly positive days.

  • 03

    Gold and copper lift Canadian materials

    Gold rose 2.38% and copper gained 1.17%, providing a commodity tailwind that was most visible in Canadian materials, the strongest tracked sector in the fund's largest sleeve. This divergence from Canadian energy, which slipped 0.93%, shows that the materials sector's advance was driven by precious and industrial metals rather than oil prices. For XEQT, the concentration of the gain in gold-sensitive Canadian equities accounts for a significant share of the Canada sleeve's outperformance among all four regions.

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Key events from the last 20 days

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Aug 7 to Sep 3 · $46.10 → $45.80

-0.65%