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Close Edition. Thursday, September 10, 2026

Curated market context for passive investors.

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$44.84
-0.79%

Headline

XEQT falls 0.79% as rising oil and yields push all four sleeves lower

XEQT closed at $44.84, down 0.79%, as all four regional sleeves declined in a session shaped by surging crude oil prices and rising bond yields. WTI crude topped $103 a barrel, driven by supply disruptions linked to the conflict with Iran, while the 10-year U.S. Treasury yield climbed to 4.94%, compressing equity valuations broadly. Canada was the largest single drag, contributing -0.29 percentage points, with materials the clearest weak point among the tracked sectors. The move was 1.8 times the fund's recent 20-day average, marking a notably weak session.

How large is today's move?

Larger-than-usual day · Today's -0.79% move is 1.8× 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
    -1.11% -0.29 pts from XEQT

    Canada's sleeve fell 1.11%, the steepest decline among the four, contributing -0.29 percentage points to XEQT. Canadian materials dropped 3.72% among the tracked sectors, consistent with gold's 2.27% decline on the day. Canadian financials were a partial offset, gaining 0.29% within the sleeve, though not nearly enough to counter the materials drag.

    Canada market region icon

  • United States

    44.92% of XEQT

    • XTOT.TO
    • ITOT
    -0.44% -0.20 pts from XEQT

    The U.S. sleeve declined 0.44%, contributing -0.20 percentage points, with technology the dominant drag among tracked sectors, falling 1.41%. Communication services bucked the trend, gaining 0.60% within the sleeve. The session marked a fourth consecutive down day for U.S. equities, consistent with the oil and yield pressures described across markets.

    United States market region icon

  • Intl Developed

    24.37% of XEQT

    • XEF.TO
    -0.83% -0.20 pts from XEQT

    XEF.TO fell 0.83%, contributing -0.20 percentage points. Australia was the steepest decliner among the tracked markets at -1.82%, while Germany fell 0.98% and the Netherlands dropped 1.40%. The ECB raised its deposit rate to 2.5% and signaled that inflation risks remain to the upside, adding to pressure across euro-area equities. Japan edged down 0.58% within the sleeve amid broader regional risk aversion.

    Intl Developed market region icon

  • Emerging Mrkts

    4.90% of XEQT

    • XEC.TO
    -1.85% -0.09 pts from XEQT

    Despite accounting for only 4.90% of XEQT, emerging markets fell 1.85%, contributing -0.09 percentage points. South Korean equities dropped 4.19% and Taiwan-listed equities fell 2.54% among the tracked exposures, together accounting for the bulk of the sleeve's move. Brazil provided a modest offset, rising 1.29% 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

Thursday's session extended a three-day slide for XEQT, but the fund's 0.79% decline came on a day when almost every data point moved in an unfavorable direction at once: surging oil, climbing Treasury yields, a rising VIX, and a simultaneous ECB rate hike. That confluence is a stress test of the fund's breadth, and the outcome, while negative across all four sleeves, remained within a magnitude a long-term passive investor can absorb. The 3-month return remains comfortably positive at 3.29%, a reminder that multi-day drawdowns of this kind are a recurring feature of equity investing, not a break from it.

Signals

  • 01

    Oil surge and yield spike converge

    WTI crude oil, which measures the U.S. benchmark price for physical oil delivery, surged 8.11% to close above $103, the highest level since May, as the conflict with Iran disrupted global supply flows. That kind of oil spike raises inflation expectations and compresses equity multiples broadly, consistent with the simultaneous rise in the 10-year Treasury yield to 4.94% and declines across all four XEQT sleeves.

  • 02

    VIX rises 13% on risk-off sentiment

    The VIX, a gauge of expected near-term volatility in U.S. equities derived from options pricing, rose 13.49% to 17.84, a level consistent with rising investor unease rather than panic. For a long-term XEQT holder, a VIX reading in this range signals caution in short-duration positioning, but remains well below the elevated thresholds historically associated with sustained drawdowns.

  • 03

    ECB rate hike pressures developed markets

    The ECB raised its deposit rate to 2.5% and its president signaled that inflation is likely to persist longer than previously expected, pressuring European equity markets already contending with elevated oil prices. Among the tracked exposures within the international developed sleeve, Germany, the Netherlands, and Australia posted the steepest declines, reflecting the broad reach of the monetary tightening signal across rate-sensitive markets.

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

  • -0.78% on May 29, 2024

    Recovered in 5 days

    Day of drop May 28 to May 29

    $30.93 $30.69 -0.78%

  • -0.78% on Nov 18, 2020

    Recovered in 3 days

    Day of drop Nov 17 to Nov 18

    $23.36 $23.18 -0.78%

  • -0.79% on Dec 31, 2021

    Recovered in 1 day

    Day of drop Dec 30 to Dec 31

    $28.15 $27.93 -0.79%

  • -0.78% on Mar 31, 2020

    Recovered in 4 days

    Day of drop Mar 30 to Mar 31

    $18.18 $18.04 -0.78%

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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Aug 13 to Sep 10 · $46.37 → $44.85

-3.29%