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Each month, we check in on the performance of the largest Canadian stock, bond, and active exchange-traded funds.
The Morningstar US Market Index fell 2.28% during February and is up 25.04% over the past year. The Morningstar US Core Bond Index rose 1.61% last month and is up 12.35% over the past year.
In the global markets, stocks lost 1.30% during February, as measured by the Morningstar Global Markets Index. Bonds rose 0.90%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 21.52% and global bonds are are up 9.22%.
Largest Canadian Stock ETF Performance
Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$9.2 billion BMO MSCI EAFE Index ETF, which gained 2.48%. The bottom performer was the C$10.9 billion Vanguard US Total Market Index ETF, which lost 2.34%.
Here’s more about the performance of the largest Canadian stock ETFs.
Vanguard S&P 500 Index ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
In February, the Vanguard S&P 500 Index ETF fell 1.72%, while the average US equity fund lost 2.09%. The fund placed in the 39th percentile for performance. The C$21.3 billion fund has climbed 26.06% over the past year, outperforming the average fund in its category, which rose 19.73%. The Vanguard fund, which launched in November 2012, has climbed 17.26% over the past three years and gained 18.20% over the past five years.
BMO S&P 500 Index ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
The C$21.3 billion BMO S&P 500 Index ETF fell 1.79% in February. The loss on the fund edged out the 2.09% loss on the average fund in the US equity category, leaving it in the 42nd percentile for performance. Over the past year, the BMO fund rose 25.85%, while the average fund in its category rose 19.73%. The fund, which launched in November 2012, has climbed 17.23% over the past three years and gained 18.23% over the past five years.
iShares S&P/TSX 60 Index ETF
• Morningstar Medalist Rating: Silver• Morningstar Category: Canadian Equity
The C$15.4 billion iShares S&P/TSX 60 Index ETF fell 0.42% in February. The loss on the fund was worse than the 0.20% loss on the average fund in the Canadian equity category, leaving it in the 61st percentile for performance. Over the past year, the iShares fund rose 22.27%, while the average fund in its category rose 18.51%. The fund, which launched in September 1999, has climbed 9.59% over the past three years and gained 12.95% over the past five years.
iShares Core S&P/TSX Capped Composite Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Equity
In February, the iShares Core S&P/TSX Capped Composite Index ETF fell 0.41%, while the average Canadian equity fund lost 0.20%. The fund placed in the 59th percentile for performance. The C$14.7 billion fund has climbed 22.33% over the past year, outperforming the average fund in its category, which rose 18.51%. The iShares fund, which launched in February 2001, has climbed 9.65% over the past three years and gained 12.68% over the past five years.
iShares Core S&P 500 Index ETF (CAD-Hedged)
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
In February, the iShares Core S&P 500 Index ETF (CAD-Hedged) fell 1.37%, while the average US equity fund lost 2.09%. The fund placed in the 28th percentile for performance. The C$11.2 billion fund has climbed 16.88% over the past year, underperforming the average fund in its category, which rose 19.73%. The iShares fund, which launched in May 2001, has climbed 10.85% over the past three years and gained 15.10% over the past five years.
Largest Canadian Bond ETF Performance
Out of the 10 largest Canadian bond ETFs, the top performer last month was the C$3.8 billion BMO Long Federal Bond Index ETF, which gained 2.38%. The bottom performer was the C$4.2 billion BMO Ultra Short-Term Bond ETF, which gained 0.25%.
Here’s more about the performance of the largest Canadian bond ETFs.
PIMCO Monthly Income Fund (Canada)
• Morningstar Medalist Rating: Silver
• Morningstar Category: Multi-Fixed Income
In February, the PIMCO Monthly Income Fund (Canada) rose 1.66%, while the average multi-fixed income fund gained 0.95%. The fund placed in the fifth percentile for performance and lagged its benchmark, the Bloomberg US Aggregate Bond Index, by 0.41 percentage points.
The C$29.3 billion fund has climbed 7.69% over the past year, performing roughly in line with the average fund in its category, which rose 7.45%. The PIMCO fund, which launched in September 2017, has climbed 4.05% over the past three years and gained 2.80% over the past five years.
BMO Aggregate Bond Index ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Canadian Fixed Income
The C$9.9 billion BMO Aggregate Bond Index ETF rose 1.10% in February. The gain on the fund was roughly in line with the 1.08% gain on the average fund in the Canadian fixed income category, leaving it in the 46th percentile for performance. Over the past year, the BMO fund rose 8.41%, while the average fund in its category rose 8.22%. The fund, which launched in January 2010, has climbed 1.51% over the past three years and gained 0.44% over the past five years.
iShares Core Canadian Universe Bond Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income
The iShares Core Canadian Universe Bond Index ETF gained 1.10% in February, performing roughly in line with the average fund in the Canadian fixed income category, which rose 1.08%. The C$8.4 billion fund has gained 8.41% over the past year, while the average fund in its category is up 8.22%. The iShares fund, which launched in November 2000, has climbed 1.49% over the past three years and gained 0.44% over the past five years.
Vanguard Canadian Aggregate Bond Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income
The Vanguard Canadian Aggregate Bond Index ETF gained 1.09% in February, performing roughly in line with the average fund in the Canadian fixed income category, which rose 1.08%. The C$5.5 billion fund has gained 8.29% over the past year, while the average fund in its category is up 8.22%. The Vanguard fund, which launched in November 2011, has climbed 1.46% over the past three years and gained 0.39% over the past five years.
BMO Ultra Short-Term Bond ETF
• Morningstar Medalist Rating: Neutral
• Morningstar Category: Canadian Short Term Fixed Income
The C$4.2 billion BMO Ultra Short-Term Bond ETF rose 0.25% in February. The gain on the fund was shy of the 0.37% gain on the average fund in the Canadian short term fixed income category, leaving it in the 75th percentile for performance. Over the past year, the BMO fund rose 4.94%, while the average fund in its category rose 6.69%. The fund, which launched in January 2011, has climbed 4.13% over the past three years and gained 2.77% over the past five years.
Largest Canadian Active ETF Performance
While passive ETFs have portfolios where holdings are designed to track the performance of an index, active ETFs are managed by portfolio managers who make the decisions about which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost and more tax-efficient than traditional actively managed mutual funds.
Out of the 10 largest Canadian active ETFs, the top performer last month was the C$9.1 billion Fidelity Canadian Large Cap Fund, which gained 2.06%. The bottom performer was the C$7.7 billion Fidelity Greater Canada Fund, which lost 3.01%.
Here’s more about the performance of the largest Canadian active ETFs.
Fidelity Canadian Large Cap Fund
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Canadian Focused Equity
The Fidelity Canadian Large Cap Fund gained 2.06% in February, outperforming the average fund in the Canadian focused equity category, which fell 1.16%. The C$9.1 billion fund has gained 18.49% over the past year, while the average fund in its category is up 16.42%. The Fidelity International fund was launched in May 2023.
Fidelity Greater Canada Fund
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Focused Equity
The C$7.7 billion Fidelity Greater Canada Fund fell 3.01% in February. The loss on the fund was worse than the 1.16% loss on the average fund in the Canadian focused equity category, leaving it in the 84th percentile for performance. Over the past year, the Fidelity International fund rose 8.18%, while the average fund in its category rose 16.42%. The fund was launched in May 2023.
RBC North American Value Fund
• Morningstar Medalist Rating: Gold
• Morningstar Category: Canadian Focused Equity
The C$7.1 billion RBC North American Value Fund fell 0.15% in February. The loss on the fund edged out the 1.16% loss on the average fund in the Canadian focused equity category, leaving it in the 28th percentile for performance. Over the past year, the RBC fund rose 20.20%, while the average fund in its category rose 16.42%. The fund was launched in March 2023.
iShares Core Equity ETF Portfolio
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Global Equity
The C$6.7 billion iShares Core Equity ETF Portfolio fell 0.57% in February. The loss on the fund edged out the 1.44% loss on the average fund in the global equity category, leaving it in the 28th percentile for performance. The fund fell further than its benchmark, the S&P/TSX Capped Composite Index, by 0.17 percentage points.
Over the past year, the iShares fund rose 21.53%, while the average fund in its category rose 17.04%. The fund, which launched in August 2019, has climbed 12.55% over the past three years and gained 13.72% over the past five years.
Vanguard Growth ETF Portfolio
• Morningstar Medalist Rating: Silver
• Morningstar Category: Global Equity Balanced
The Vanguard Growth ETF Portfolio lost 0.46% in February, falling less than the average fund in the global equity balanced category, which fell 0.59%. The fund placed in the 49th percentile for performance and lagged its benchmark, the Bloomberg Global Aggregate Index, by 1.36 percentage points.
The C$6.5 billion fund has gained 18.82% over the past year, while the average fund in its category is up 15.02%. The Vanguard fund, which launched in January 2018, has climbed 9.93% over the past three years and gained 10.81% over the past five years.
This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.
