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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 4.59% during April and is up 12.12% over the past year. The Morningstar US Core Bond Index fell 3.64% last month and is up 8.60% over the past year.
In the global markets, stocks lost 3.03% during April, as measured by the Morningstar Global Markets Index. Bonds fell 1.25%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 12.11% and global bonds are are up 9.18%.
Largest Canadian Stock ETF Performance
Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$9.8 billion Fidelity Canadian Large Cap Fund FCLC, which gained 1.56%. The bottom performer was the C$21 billion Vanguard S&P 500 Index ETF VFV, which lost 4.99%.
Here’s more about the performance of the largest stock ETFs.
Vanguard S&P 500 Index ETF VFV
In April, the Vanguard S&P 500 Index ETF fell 4.99%, while the average US equity fund lost 5.83%. The fund placed in the 70th percentile for performance. The C$21 billion fund has climbed 11.83% over the past year, outperforming the average fund in its category, which rose 9.61%. The Vanguard fund, which launched in November 2012, has climbed 14.45% over the past three years and gained 14.99% over the past five years.
BMO S&P 500 Index ETF ZSP
The BMO S&P 500 Index ETF lost 4.86% in April, falling less than the average fund in the US equity category, which fell 5.83%. The C$19.5 billion fund has gained 11.94% over the past year, while the average fund in its category is up 9.61%. The BMO fund, which launched in November 2012, has climbed 14.46% over the past three years and gained 15.00% over the past five years.
iShares S&P/TSX 60 Index ETF XIU
In April, the iShares S&P/TSX 60 Index ETF rose 0.13%, while the average Canadian equity fund lost 1.63%. The fund placed in the 47th percentile for performance. The C$15.8 billion fund has climbed 18.30% over the past year, outperforming the average fund in its category, which rose 13.07%. The iShares fund, which launched in September 1999, has climbed 9.37% over the past three years and gained 14.32% over the past five years.
iShares Core S&P/TSX Capped Composite Index ETF XIC
In April, the iShares Core S&P/TSX Capped Composite Index ETF fell 0.09%, while the average Canadian equity fund lost 1.63%. The fund placed in the 64th percentile for performance. The C$15 billion fund has climbed 17.75% over the past year, outperforming the average fund in its category, which rose 13.07%. The iShares fund, which launched in February 2001, has climbed 9.50% over the past three years and gained 14.31% over the past five years.
iShares Core MSCI EAFE IMI Index ETF XEF
In April, the iShares Core MSCI EAFE IMI Index ETF rose 0.58%, while the average international equity fund lost 1.15%. The fund placed in the 19th percentile for performance. The C$11.6 billion fund has climbed 13.16% over the past year, outperforming the average fund in its category, which rose 9.39%. The iShares fund, which launched in April 2013, has climbed 12.27% over the past three years and gained 10.88% 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$4.6 billion BMO Ultra Short-Term Bond ETF ZST, which gained 0.23%. The bottom performer was the C$3.5 billion BMO Long Federal Bond Index ETF ZFL, which lost 2.68%.
Here’s more about the performance of the largest bond ETFs.
PIMCO Monthly Income Fund (Canada) PMIF
The C$29.7 billion PIMCO Monthly Income Fund (Canada) fell 0.16% in April. The loss on the fund edged out the 0.49% loss on the average fund in the multi-fixed income category, leaving it in the 27th percentile for performance.The fund lagged its benchmark, the Bloomberg US Aggregate Bond Index, by 0.40 percentage points.
Over the past year, the PIMCO fund rose 7.83%, while the average fund in its category rose 6.42%. The fund, which launched in September 2017, has climbed 4.92% over the past three years and gained 4.07% over the past five years.
BMO Aggregate Bond Index ETF ZAG
In April, the BMO Aggregate Bond Index ETF fell 0.66%, while the average Canadian fixed income fund lost 0.35%. The fund placed in the 40th percentile for performance. The C$11 billion fund has climbed 9.07% over the past year, outperforming the average fund in its category, which rose 7.18%. The BMO fund, which launched in January 2010, has climbed 3.44% over the past three years and lost 0.06% over the past five years.
iShares Core Canadian Universe Bond Index ETF XBB
The iShares Core Canadian Universe Bond Index ETF lost 0.66% in April, falling further than the average fund in the Canadian fixed income category, which fell 0.35%. The C$8.2 billion fund has gained 9.06% over the past year, while the average fund in its category is up 7.18%. The iShares fund, which launched in November 2000, has climbed 3.43% over the past three years and lost 0.08% over the past five years.
RBC Core Bond Pool RCOR
The RBC Core Bond Pool lost 0.43% in April, falling less than the average fund in the global core plus fixed income category, which fell 0.49%. The fund placed in the 59th percentile for performance and edged out its benchmark, the FTSE Canada Universe_CA Index, by 0.22 percentage points.
The C$5.7 billion fund has gained 7.41% over the past year, while the average fund in its category is up 5.62%. The RBC fund was launched in March 2024.
Vanguard Canadian Aggregate Bond Index ETF VAB
The Vanguard Canadian Aggregate Bond Index ETF lost 0.66% in April, falling further than the average fund in the Canadian fixed income category, which fell 0.35%. The C$5.5 billion fund has gained 8.97% over the past year, while the average fund in its category is up 7.18%. The Vanguard fund, which launched in November 2011, has climbed 3.37% over the past three years and lost 0.16% 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 than traditional actively managed mutual funds.
Out of the 10 largest Canadian active ETFs, the top performer last month was the C$9.8 billion Fidelity Canadian Large Cap Fund FCLC, which gained 1.56%. The bottom performer was the C$7.2 billion Fidelity Greater Canada Fund FCGC, which lost 2.85%.
Here’s more about the performance of the largest active ETFs.
Fidelity Canadian Large Cap Fund FCLC
In April, the Fidelity Canadian Large Cap Fund rose 1.56%, while the average Canadian focused equity fund lost 2.84%. The fund placed in the first percentile for performance. The C$9.8 billion fund has climbed 21.03% over the past year, outperforming the average fund in its category, which rose 10.09%. The Fidelity International fund was launched in May 2023.
iShares Core Equity ETF Portfolio XEQT
The C$7.2 billion iShares Core Equity ETF Portfolio fell 2.45% in April. The loss on the fund edged out the 4.25% loss on the average fund in the global equity category, leaving it in the 42nd percentile for performance.The fund fell further than its benchmark, the S&P/TSX Capped Composite Index, by 2.35 percentage points.
Over the past year, the iShares fund rose 13.48%, while the average fund in its category rose 9.24%. The fund, which launched in August 2019, has climbed 12.09% over the past three years and gained 13.23% over the past five years.
Fidelity Greater Canada Fund FCGC
The C$7.2 billion Fidelity Greater Canada Fund fell 2.85% in April. The loss on the fund was roughly in line with the 2.84% loss on the average fund in the Canadian focused equity category, leaving it in the 90th percentile for performance. Over the past year, the Fidelity International fund rose 0.39%, while the average fund in its category rose 10.09%. The fund was launched in May 2023.
RBC North American Value Fund RNAV
The RBC North American Value Fund lost 1.57% in April, falling less than the average fund in the Canadian focused equity category, which fell 2.84%. The C$7.1 billion fund has gained 14.46% over the past year, while the average fund in its category is up 10.09%. The RBC fund was launched in March 2023.
Vanguard All-Equity ETF Portfolio VEQT
The Vanguard All-Equity ETF Portfolio lost 2.57% in April, falling less than the average fund in the global equity category, which fell 4.25%. The fund placed in the 46th percentile for performance and edged out its benchmark, the FTSE Global All Cap Index, by 0.52 percentage points.
The C$6.7 billion fund has gained 13.29% over the past year, while the average fund in its category is up 9.24%. The Vanguard fund, which launched in January 2019, has climbed 11.58% over the past three years and gained 13.12% 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.
