This is the close brief for Fri, Sep 4, 2026. View latest

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Close Edition. Friday, September 4, 2026

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$45.85
+0.11%

Headline

Emerging markets and U.S. technology offset a Canadian decline as XEQT edges higher

XEQT closed at $45.85, up 0.11%, as opposing forces across its four sleeves largely offset one another. Emerging markets led with a 1.90% gain, the strongest sleeve move of the session, while Canada declined 0.34% weighed by losses in materials and energy. The U.S. sleeve was flat on net despite a sharply divided internal picture, and international developed markets edged 0.32% higher. A stronger-than-expected U.S. jobs report for August raised prospects of a Federal Reserve rate hike, sending Treasury yields higher and pressuring most U.S. sectors outside of technology.

How large is today's move?

Typical day · Today's +0.11% move is 0.3× 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

    25.81% of XEQT

    • XIC.TO
    -0.34% -0.09 pts from XEQT

    Canada's sleeve fell 0.34%, subtracting 0.09 percentage points from XEQT. Materials led the decline, dropping 1.22% among the sectors tracked, with energy close behind at -0.73%; together they accounted for the bulk of the sleeve's drag. Industrials and utilities posted modest gains, but were not large enough to offset the commodity-sector weakness.

    Canada market region icon

  • United States

    44.99% of XEQT

    • XTOT.TO
    • ITOT
    +0.00% +0.00 pts to XEQT

    The U.S. sleeve ended flat, contributing virtually nothing to XEQT's return. The session's internal divergence was pronounced: technology advanced 0.70% among the tracked sectors, adding 0.25 percentage points within the sleeve, while consumer discretionary, communication services, health care, and financials each fell between 0.79% and 1.33%. The August jobs surprise, which showed employers adding 162,000 positions, lifted Treasury yields and concentrated pressure on rate-sensitive and growth-oriented sectors outside of technology.

    United States market region icon

  • Intl Developed

    24.37% of XEQT

    • XEF.TO
    +0.32% +0.08 pts to XEQT

    The international developed sleeve gained 0.32%, adding 0.08 percentage points to XEQT. Japan was the largest positive contributor among the tracked markets, rising 0.39%, consistent with a 1.14% appreciation of the yen against the Canadian dollar. The Netherlands posted a notable 1.48% gain among the tracked exposures. European markets were mixed and narrow in range, with the strong U.S. jobs data tempering sentiment, while Switzerland and Australia posted small declines.

    Intl Developed market region icon

  • Emerging Mrkts

    4.76% of XEQT

    • XEC.TO
    +1.90% +0.09 pts to XEQT

    Emerging markets produced the session's standout result, rising 1.90% and contributing 0.09 percentage points to XEQT. South Korean equities surged 4.60% among the tracked markets, with the KOSPI reclaiming the 6,600 level as rate concerns eased. Taiwan-listed equities advanced 1.86% in the tracked exposure, with local shares closing up roughly 1.51%. China added modestly at 0.99%, while Brazil and India were marginal detractors within the sleeve.

    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

Emerging markets delivered the session's clearest message: a fund with global breadth can receive a meaningful lift from corners of the market that domestic investors rarely watch closely. The 1.90% gain in the EM sleeve nearly matched Canada's drag point-for-point, leaving XEQT essentially flat despite a broad U.S. decline across most non-technology sectors. A session where four sleeves pull in different directions, yet the fund ends modestly positive, reflects the structural logic of the portfolio more clearly than a uniform advance or retreat would.

Signals

  • 01

    EM tech hubs dominate sleeve gains

    South Korean equities surged 4.60% and Taiwan-related equities rose 1.86% among the markets tracked within the emerging sleeve, together driving the sleeve to a 1.90% gain. For an XEQT holder, this illustrates how a sleeve representing less than 5% of the fund can still contribute as much to a day's return as a sleeve four times its size when its components move sharply in the same direction.

  • 02

    Jobs data splits U.S. sector returns

    The 10-year U.S. Treasury yield, a benchmark rate that shapes borrowing costs and discount rates across equity markets, rose 0.46% to 4.784% after the August jobs report beat expectations. Within the U.S. sleeve, health care, financials, consumer discretionary, and communication services each fell more than 0.79% among the tracked sectors, while technology advanced, producing an unusually wide internal spread within a sleeve that ended flat overall.

  • 03

    CAD weakness cushions U.S. sleeve

    The Canadian dollar weakened 0.32% against the U.S. dollar, meaning U.S.-dollar assets translated into marginally stronger Canadian-dollar returns than their raw USD performance would imply. The effect was small enough to leave the U.S. sleeve's blended return at zero, but it partially cushioned what would otherwise have been a modest negative contribution from the sleeve's broad non-technology weakness.

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Aug 10 to Sep 4 · $46.05 → $45.85

-0.43%