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Close Edition. Wednesday, September 16, 2026

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$45.02
+0.02%

Headline

XEQT holds flat as a Fed rate hike and oil slide cancel out gains from three sleeves

XEQT closed essentially unchanged at $45.02, edging up just 0.02% as a steep drop in Canadian energy offset gains across the other three sleeves. The Federal Reserve raised its benchmark interest rate and signalled further increases may follow, pushing the 10-year Treasury yield to 5.01% and pulling oil down 3.5% to $102.14. Canada was the sole sleeve in the red, dragged by energy's 3.3% decline, while the U.S., international developed, and emerging markets each posted modest gains. Taiwan-listed equities were the standout within the emerging markets sleeve, advancing 1.6% and providing the largest positive contribution to XEQT on the day.

How large is today's move?

Typical day · Today's +0.02% 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

    25.54% of XEQT

    • XIC.TO
    -0.26% -0.07 pts from XEQT

    Canada fell 0.26%, contributing -0.07 pp to XEQT, with energy accounting for nearly all of the damage. Canadian energy dropped 3.3% as WTI crude fell sharply following the Fed decision, while materials slipped 0.8%. Utilities and consumer staples provided partial offsets, rising 1.9% and 1.3% respectively, and financials finished fractionally positive.

    Canada market region icon

  • United States

    45.11% of XEQT

    • XTOT.TO
    • ITOT
    +0.07% +0.03 pts to XEQT

    The U.S. sleeve eked out a 0.07% gain, adding +0.03 pp to XEQT, despite broad weakness in financials, energy, and communication services among the sectors tracked. Technology, the sleeve's largest tracked sector at roughly 36% of its weight, rose 0.1% and provided the critical offset. A weaker Canadian dollar amplified the USD-denominated return in CAD terms, with ITOT's raw USD return of -0.46% translating to a +0.07% CAD-adjusted gain.

    United States market region icon

  • Intl Developed

    24.39% of XEQT

    • XEF.TO
    +0.08% +0.02 pts to XEQT

    International developed markets gained 0.08%, adding +0.02 pp, though the result masks divergence beneath the surface. Japan advanced modestly, while the UK fell 0.7% and Australia dropped 1.4% among the markets tracked. A notably weaker yen, with JPY/CAD down 1.1%, reduced the CAD value of Japan's contribution and tempered the sleeve's overall gain.

    Intl Developed market region icon

  • Emerging Mrkts

    4.76% of XEQT

    • XEC.TO
    +0.44% +0.02 pts to XEQT

    Emerging markets led all sleeves with a 0.44% gain, contributing +0.02 pp to XEQT. Taiwan-listed equities rose 1.6%, sufficient to overcome declines across China, South Korea, India, Brazil, and South Africa within the tracked exposures. Taiwan shares closed up 0.74% on the local exchange ahead of the Fed decision, with the larger tracked instrument gain reflecting additional factors in the covered segment.

    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

Three of four sleeves advanced, yet the session was nearly flat because Canadian energy's 3.3% decline was large enough to neutralize the gains elsewhere. That kind of internal offset, where commodity exposure muffles a broadly constructive day, is a structural feature of XEQT's design rather than a flaw. The 10-year Treasury yield closing above 5% bears watching for rate-sensitive sectors in future sessions, but XEQT's muted close at $45.02 reflects balance, not paralysis.

Signals

  • 01

    Fed hike lifts 10-year yield above 5%

    The Federal Reserve raised rates and signalled additional hikes, lifting the 10-year Treasury yield, which measures the cost of long-term government borrowing in the U.S., to 5.01%. Rate-sensitive sectors within the tracked U.S. exposures showed the pressure, with financials falling 1.6% and energy sliding 2.9%, while Canadian energy simultaneously dropped 3.3% as WTI crude fell 3.5% to $102.14.

  • 02

    CAD weakness rescues U.S. sleeve return

    The Canadian dollar fell 0.53% against the U.S. dollar, which converted what was a -0.46% USD return on U.S. equities into a +0.07% CAD-equivalent gain inside XEQT's U.S. sleeve. For a Canadian holder of a globally diversified fund, currency movement of this magnitude can flip a sleeve from a drag to a contributor, a reminder that exchange rates are a persistent component of international returns.

  • 03

    Taiwan offsets broad EM weakness

    Taiwan-listed equities rose 1.62% and delivered 0.45 pp of positive contribution within the emerging markets sleeve, more than erasing combined declines across China, South Korea, South Africa, India, and Brazil in the tracked exposures. The emerging markets sleeve's +21.3% year-to-date return reflects a structural concentration in Taiwan that amplifies both upside and downside on days when those equities diverge from the rest of the sleeve.

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Key events from the last 20 days

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Aug 19 to Sep 16 · $45.61 → $45.02

-1.28%