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How the Largest Canadian ETFs Performed in July

Fidelity Canadian Large Cap ETF led stock ETF returns, while iShares Core S&P 500 Index ETF lagged.

Bella Albrecht 7 August, 2024 | 1:00AM
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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 Canada Index rose 5.80% during July, while the Morningstar Canada Core Bond Index gained 2.16%. Over the past year, the Canadian stock market is up 16.55%, while the Canadian bond market has risen 6.99%.

The Morningstar US Market Index rose 1.59% during July and is up 21.49% over the past year. The Morningstar US Core Bond Index rose 2.32% last month and 5.03% over the past year.

In the global markets, stocks gained 1.97% during July, as measured by the Morningstar Global Markets Index. Bonds rose 2.82%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 17.03% and global bonds are up 2.74%.

Largest Canadian Stock ETF Performance

Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$8.0 billion Fidelity Canadian Large Cap ETF, which gained 6.46%. The bottom performer was the C$9.9 billion iShares Core S&P 500 Index ETF (CAD-Hedged), which rose 1.04%.

Here’s more about the performance of the largest Canadian stock ETFs.

BMO S&P 500 Index ETF

The C$18.5 billion BMO S&P 500 Index ETF rose 2.11% in July. The gain on the passively managed fund was shy of the 3.07% gain on the average fund in the US equity category, leaving it in the 45th percentile for performance. The fund lagged its benchmark, the S&P 500 Index, by 0.08 percentage points.

Over the past year, the BMO fund rose 27.44%, while the average fund in its category rose 24.05%. The fund has climbed 12.98% over the past three years and gained 15.64% over the past five years.

Vanguard S&P 500 Index ETF

In July, the passively managed Vanguard S&P 500 Index ETF rose 2.08%, while the average US equity fund gained 3.07%. The fund placed in the 47th percentile for performance and lagged its benchmark, the S&P 500 Index, by 0.02 percentage points.

The C$15.8 billion fund has climbed 27.42% over the past 12 months, outperforming the average fund in its category, which rose 24.05%. The Vanguard fund has gained 12.97% over the past three years and gained 15.65% over the past five years.

iShares Core S&P/TSX Capped Composite Index ETF

The passively managed iShares Core S&P/TSX Capped Composite Index ETF gained 5.85% in July, outperforming the average fund in the Canadian equity category, which fell 0.9%. The fund placed in the 45th percentile for performance and lagged its benchmark, the S&P/TSX Capped Composite Index, by 0.02 percentage points.

The C$12.9 billion fund has gained 15.64% over the past year, while the average fund in its category is up 10.92%. The iShares fund is up 7.66% over the past three years and is up 10.44% over the past five years.

iShares S&P/TSX 60 Index ETF

In July, the passively managed iShares S&P/TSX 60 Index ETF rose 6.06%, while the average Canadian equity fund lost 0.9%. The fund placed in the 33rd percentile for performance and lagged its benchmark, the S&P/TSX 60 Index, by 0.04 percentage points.

The C$12.2 billion fund has climbed 15.26% over the past 12 months, outperforming the average fund in its category, which rose 10.92%. The iShares fund has gained 7.58% over the past three years and gained 10.5% over the past five years.

iShares Core S&P 500 Index ETF (CAD-Hedged)

The C$9.9 billion iShares Core S&P 500 Index ETF (CAD-Hedged) rose 1.04% in July. The gain on the passively managed fund was shy of the 3.07% gain on the average fund in the US equity category, leaving it in the 72nd percentile for performance. The fund lagged its benchmark, the S&P 500 Index, by 0.11 percentage points.

Over the past year, the iShares fund rose 20.47%, while the average fund in its category rose 24.05%. The fund has climbed 8.14% over the past three years and gained 13.27% over the past five years.

Canadian Bond ETFs

Looking at the performance of the 10 largest Canadian bond ETFs over the last month, the top performer was the C$3.2 billion BMO Long Federal Bond Index ETF, with a 3.68% gain. The bottom performer was the C$4.5 billion RBC Core Bond Pool ETF, with a 1.86% gain.

Here’s more about the performance of the largest Canadian bond ETFs.

PIMCO Monthly Income ETF

In July, the actively managed PIMCO Monthly Income Fund (Canada) rose 2.24%, while the average multi-fixed income fund gained 0.66%. The fund placed in the 15th percentile for performance and lagged its benchmark, the Bloomberg US Agg Bond Index, by 0.05 percentage points.

The C$26.7 billion fund has climbed 7.58% over the past year, outperforming the average fund in its category, which rose 6.16%. The PIMCO fund has gained 1.65% over the past three years and gained 2.4% over the past five years.

BMO Aggregate Bond Index ETF

The C$9.7 billion BMO Aggregate Bond Index ETF rose 2.35% in July. The gain on the passively managed fund beat the 1.07% gain on the average fund in the Canadian fixed income category, leaving it in the 39th percentile for performance. The fund lagged its benchmark, the FTSE Canada Index, by 0.02 percentage points.

Over the past 12 months, the BMO fund rose 7.32%, while the average fund in its category rose 4.01%. The fund has dropped 1.42% over the past three years and gained 0.3% over the past five years.

iShares Core Canadian Universe Bond Index ETF

In July, the passively managed iShares Core Canadian Universe Bond Index ETF rose 2.33%, while the average Canadian fixed income fund gained 1.07%. The fund placed in the 44th percentile for performance and lagged its benchmark, the FTSE Canada Index, by 0.04 percentage points.

The C$7.5 billion fund has climbed 7.24% over the past year, outperforming the average fund in its category, which rose 4.01%. The iShares fund has lost 1.44% over the past three years and gained 0.29% over the past five years.

Vanguard Canadian Aggregate Bond Index ETF

The passively managed Vanguard Canadian Aggregate Bond Index ETF gained 2.34% in July, outperforming the average fund in the Canadian fixed income category, which rose 1.07%. The fund placed in the 41st percentile for performance and beat its benchmark, the Bloomberg Global Agg Float Adjusted Index, by 0.11 percentage points.

The C$5 billion fund has gained 7.19% over the past year, while the average fund in its category is up 4.01%. The Vanguard fund is down 1.44% over the past three years and is up 0.25% over the past five years.

RBC Core Bond Pool ETF

The C$4.6 billion RBC Core Bond Pool rose 1.86% in July. The gain on the actively managed fund beat the 0.84% gain on the average fund in the global fixed income category, leaving it in the 62nd percentile for performance. The fund lagged its benchmark, the FTSE Canada Index, by 0.51 percentage points.

The RBC fund was launched in March 2024.

Canadian Active ETFs

Out of the 10 largest Canadian active ETFs, the top performer last month was the C$8.0 billion Fidelity Canadian Large Cap ETF, which gained 6.46%. The worst performer was the C$4.9 billion Global X High Interest Savings ETF, which edged up 0.02%.

Here’s more about the performance of the largest Canadian active ETFs.

Fidelity Canadian Large Cap ETF

The C$8 billion Fidelity Canadian Large Cap Fund, which falls into the Canadian focused equity category, rose 6.46% in July. Over the past year, the Fidelity International fund is up 16.47%. The fund was launched in May 2023.

CI High Interest Savings ETF

The C$7.2 billion CI High Interest Savings ETF, which falls into the Canadian money market category, rose 0.41% in July. Over the past 12 months, the CI Investments fund is up 5.0%. The fund has climbed 3.44% over the past three years and gained 2.49% over the past five years.

Fidelity Greater Canada ETF

The C$6.7 billion Fidelity Greater Canada Fund, which falls into the Canadian focused equity category, rose 3.09% in July. Over the past year, the Fidelity International fund is up 12.54%. The fund was launched in May 2023.

RBC North American Value ETF

The C$5.9 billion RBC North American Value Fund, which falls into the Canadian focused equity category, rose 4.89% in July. Over the past year, the RBC fund is up 18.78%. The fund was launched in March 2023.

This article was generated with the help of automation and reviewed by Morningstar editors.

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About Author

Bella Albrecht  is an associate data journalist at Morningstar Inc. 

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