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Each month, we check in on the performance of the largest stock, bond, and active exchange-traded funds available for sale in Canada.
The Morningstar US Market Index fell 5.96% during March and is up 14.17% over the past year. The Morningstar US Core Bond Index fell 0.04% last month and is up 11.63% over the past year.
In the global markets, stocks lost 3.82% during March, as measured by the Morningstar Global Markets Index. Bonds rose 0.49%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 13.52% and global bonds are are up 9.41%.
Largest Canadian Stock ETF Performance
Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$9.4 billion Fidelity Canadian Large Cap Fund FCLC, which gained 1.13%. The bottom performer was the C$10.2 billion Vanguard US Total Market Index ETF VUN, which lost 6.42%.
Here’s more about the performance of the largest Canadian stock ETFs.
Vanguard S&P 500 Index ETF VFV
The C$19.7 billion Vanguard S&P 500 Index ETF fell 6.16% in March. The loss on the fund was worse than the 5.83% loss on the average fund in the US equity category, leaving it in the 54th percentile for performance. Over the past 12 months, the Vanguard fund rose 14.81%, while the average fund in its category rose 9.61%. The fund, which launched in November 2012, has climbed 13.93% over the past three years and gained 18.74% over the past five years.
BMO S&P 500 Index ETF ZSP
The C$18 billion BMO S&P 500 Index ETF fell 6.15% in March. The loss on the fund was worse than the 5.83% loss on the average fund in the US equity category, leaving it in the 54th percentile for performance. Over the past 12 months, the BMO fund rose 14.68%, while the average fund in its category rose 9.61%. The fund, which launched in November 2012, has climbed 13.92% over the past three years and gained 18.72% over the past five years.
iShares S&P/TSX 60 Index ETF XIU
The iShares S&P/TSX 60 Index ETF lost 1.96% in March, falling further than the average fund in the Canadian equity category, which fell 1.63%. The C$14.9 billion fund has gained 15.58% over the past 12 months, while the average fund in its category is up 13.07%. The iShares fund, which launched in September 1999, has climbed 7.53% over the past three years and gained 16.29% over the past five years.
iShares Core S&P/TSX Capped Composite Index ETF XIC
In March, the iShares Core S&P/TSX Capped Composite Index ETF fell 1.51%, while the average Canadian equity fund lost 1.63%. The fund placed in the 36th percentile for performance. The C$14 billion fund has climbed 15.71% over the past 12 months, outperforming the average fund in its category, which rose 13.07%. The iShares fund, which launched in February 2001, has climbed 7.70% over the past three years and gained 16.69% over the past five years.
iShares Core MSCI EAFE IMI Index ETF XEF
In March, the iShares Core MSCI EAFE IMI Index ETF fell 0.34%, while the average international equity fund lost 1.15%. The fund placed in the 33rd percentile for performance. The C$10.2 billion fund has climbed 11.40% over the past 12 months, outperforming the average fund in its category, which rose 9.39%. The iShares fund, which launched in April 2013, has climbed 10.41% over the past three years and gained 11.71% 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$4.4 billion BMO Ultra Short-Term Bond ETF ZST.L, which gained 1.33%. The bottom performer was the C$3.9 billion BMO Long Federal Bond Index ETF ZFL, which lost 1.57%.
Here’s more about the performance of the largest Canadian bond ETFs.
PIMCO Monthly Income Fund (Canada) PMIF
In March, the PIMCO Monthly Income Fund (Canada) was roughly flat, while the average multi-fixed income fund lost 0.49%. The fund placed in the 13th percentile for performance and edged out its benchmark, the Bloomberg US Aggregate Bond Index, by 0.09 percentage points.
The C$29.8 billion fund has climbed 6.46% over the past 12 months, performing roughly in line with the average fund in its category, which rose 6.42%. The PIMCO fund, which launched in September 2017, has climbed 4.25% over the past three years and gained 4.54% over the past five years.
BMO Aggregate Bond Index ETF ZAG
The C$10.8 billion BMO Aggregate Bond Index ETF fell 0.30% in March. The loss on the fund edged out the 0.35% loss on the average fund in the Canadian fixed income category, leaving it in the 32nd percentile for performance. Over the past 12 months, the BMO fund rose 7.55%, while the average fund in its category rose 7.18%. The fund, which launched in January 2010, has climbed 2.44% over the past three years and gained 0.82% over the past five years.
iShares Core Canadian Universe Bond Index ETF XBB
The iShares Core Canadian Universe Bond Index ETF lost 0.30% in March, falling less than the average fund in the Canadian fixed income category, which fell 0.35%. The C$8.6 billion fund has gained 7.55% over the past 12 months, while the average fund in its category is up 7.18%. The iShares fund, which launched in November 2000, has climbed 2.42% over the past three years and gained 0.80% over the past five years.
Vanguard Canadian Aggregate Bond Index ETF VAB
In March, the Vanguard Canadian Aggregate Bond Index ETF fell 0.30%, while the average Canadian fixed income fund lost 0.35%. The fund placed in the 31st percentile for performance. The C$5.6 billion fund has climbed 7.48% over the past 12 months, performing roughly in line with the average fund in its category, which rose 7.18%. The Vanguard fund, which launched in November 2011, has climbed 2.37% over the past three years and gained 0.69% over the past five years.
RBC Core Bond Pool RCOR
The C$5.6 billion RBC Core Bond Pool fell 0.23% in March. The loss on the fund edged out the 0.49% loss on the average fund in the global core plus fixed income category, leaving it in the 22nd percentile for performance. The fund edged out its benchmark, the FTSE Canada Universe CA Index, by 0.05 percentage points.
Over the past 12 months, the RBC fund rose 6.75%, while the average fund in its category rose 5.62%. The fund was launched in March 2024.
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$9.4 billion Fidelity Canadian Large Cap Fund FCLC, which gained 1.13%. The bottom performer was the C$7.7 billion Fidelity Greater Canada Fund FCGC, which lost 5.69%.
Here’s more about the performance of the largest Canadian active ETFs.
Fidelity Canadian Large Cap Fund FCLC
The C$9.4 billion Fidelity Canadian Large Cap Fund rose 1.13% in March. The gain on the fund beat the 2.84% loss on the average fund in the Canadian focused equity category, leaving it in the fourth percentile for performance. Over the past 12 months, the Fidelity International fund rose 18.56%, while the average fund in its category rose 10.09%. The fund was launched in May 2023.
Fidelity Greater Canada Fund FCGC
The Fidelity Greater Canada Fund lost 5.69% in March, falling further than the average fund in the Canadian focused equity category, which fell 2.84%. The C$7.7 billion fund has gained 0.23% over the past 12 months, while the average fund in its category is up 10.09%. The Fidelity International fund was launched in May 2023.
RBC North American Value Fund RNAV
The RBC North American Value Fund lost 2.04% in March, falling less than the average fund in the Canadian focused equity category, which fell 2.84%. The C$6.7 billion fund has gained 13.86% over the past 12 months, while the average fund in its category is up 10.09%. The RBC fund was launched in March 2023.
Global X High Interest Savings ETF CASH
The Global X High Interest Savings ETF gained 0.22% in March, outperforming the average fund in the Canadian money market category, which rose 0.21%. The C$6.6 billion fund has gained 3.95% over the past 12 months, while the average fund in its category is up 3.69%. The Global X fund, which launched in November 2021, has gained 4.15% over the past three years.
iShares Core Equity ETF Portfolio XEQT
In March, the iShares Core Equity ETF Portfolio fell 3.20%, while the average global equity fund lost 4.25%. The fund placed in the 30th percentile for performance and fell further than its benchmark, the S&P/TSX Capped Composite Index, by 1.69 percentage points.
The C$6.3 billion fund has climbed 13.94% over the past 12 months, outperforming the average fund in its category, which rose 9.24%. The iShares fund, which launched in August 2019, has climbed 10.87% over the past three years and gained 15.77% 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.
