Each month, we check in on the performance of the largest Canadian stock, bond, and active exchange-traded funds.
The Morningstar Canada Index rose 1.04% during October, while the Morningstar Canada Core Bond Index lost 1.12%. Over the past year, the Canadian stock market is up 32.62%, while the Canadian bond market has risen 11.00%.
The Morningstar US Market Index rose 2.42% during October and is up 38.66% over the past year. The Morningstar US Core Bond Index rose 0.64% last month and is up 10.82% over the past year.
In the global markets, stocks gained 0.77% during October, as measured by the Morningstar Global Markets Index. Bonds fell 0.27%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 33.29% and global bonds are are up 9.67%.
Largest Canadian Stock ETF Performance
Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$10.1 billion Vanguard US Total Market Index ETF, which gained 2.16%. The bottom performer was the C$8.7 billion BMO MSCI EAFE Index ETF, which lost 2.74%.
Here’s more about the performance of the largest Canadian stock ETFs.
BMO S&P 500 Index ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
In October, the BMO S&P 500 Index ETF rose 2.00%, while the average US equity fund gained 1.94%. The fund placed in the 38th percentile for performance. The C$20 billion fund has climbed 38.08% over the past year, outperforming the average fund in its category, which rose 31.25%. The BMO fund, which launched in November 2012, has climbed 13.07% over the past three years and gained 16.17% over the past five years.
Vanguard S&P 500 Index ETF
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
The Vanguard S&P 500 Index ETF gained 1.97% in October, performing roughly in line with the average fund in the US equity category, which rose 1.94%. The C$18.5 billion fund has gained 38.16% over the past year, while the average fund in its category is up 31.25%. The Vanguard fund, which launched in November 2012, has climbed 13.07% over the past three years and gained 16.16% over the past five years.
iShares S&P/TSX 60 Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Equity
The iShares S&P/TSX 60 Index ETF gained 0.66% in October, underperforming the average fund in the Canadian equity category, which rose 2.84%. The C$14.6 billion fund has gained 31.49% over the past year, while the average fund in its category is up 24.70%. The iShares fund, which launched in September 1999, has climbed 7.84% over the past three years and gained 11.34% over the past five years.
iShares Core S&P/TSX Capped Composite Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Equity
The C$13.3 billion iShares Core S&P/TSX Capped Composite Index ETF rose 0.85% in October. The gain on the fund was shy of the 2.84% gain on the average fund in the Canadian equity category, leaving it in the 31st percentile for performance. Over the past year, the iShares fund rose 31.88%, while the average fund in its category rose 24.70%. The fund, which launched in February 2001, has climbed 7.98% over the past three years and gained 11.29% over the past five years.
iShares Core S&P 500 Index ETF (CAD-Hedged)
• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity
The C$11 billion iShares Core S&P 500 Index ETF (CAD-Hedged) fell 1.06% in October. The loss on the fund was worse than the 1.94% gain on the average fund in the US equity category, leaving it in the 93rd percentile for performance. Over the past year, the iShares fund rose 36.01%, while the average fund in its category rose 31.25%. The fund, which launched in May 2001, has climbed 7.55% over the past three years and gained 13.51% 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$3.1 billion BMO Mid-Term US IG Corporate Bond Index ETF, which gained 0.47%. The bottom performer was the C$3.4 billion BMO Long Federal Bond Index ETF, which lost 2.55%.
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 October, the PIMCO Monthly Income Fund (Canada) fell 1.55%, while the average multi-fixed income fund gained 1.28%. The fund placed in the 80th percentile for performance and edged out its benchmark, the Bloomberg US Aggregate Bond Index, by 1.10 percentage points.
The C$27.5 billion fund has climbed 11.33% over the past year, performing roughly in line with the average fund in its category, which rose 11.47%. The PIMCO fund, which launched in September 2017, has climbed 1.90% over the past three years and gained 2.47% over the past five years.
BMO Aggregate Bond Index ETF
• Morningstar Medalist Rating: Bronze
• Morningstar Category: Canadian Fixed Income
In October, the BMO Aggregate Bond Index ETF fell 1.03%, while the average Canadian fixed income fund gained 1.85%. The fund placed in the 52nd percentile for performance. The C$10.4 billion fund has climbed 11.33% over the past year, underperforming the average fund in its category, which rose 12.74%. The BMO fund, which launched in January 2010, has dropped 0.15% over the past three years and gained 0.37% over the past five years.
iShares Core Canadian Universe Bond Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income
The C$7.9 billion iShares Core Canadian Universe Bond Index ETF fell 1.05% in October. The loss on the fund was worse than the 1.85% gain on the average fund in the Canadian fixed income category, leaving it in the 59th percentile for performance. Over the past year, the iShares fund rose 11.25%, while the average fund in its category rose 12.74%. The fund, which launched in November 2000, has dropped 0.19% over the past three years and gained 0.35% over the past five years.
Vanguard Canadian Aggregate Bond Index ETF
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income
In October, the Vanguard Canadian Aggregate Bond Index ETF fell 1.08%, while the average Canadian fixed income fund gained 1.85%. The fund placed in the 68th percentile for performance. The C$5.2 billion fund has climbed 11.22% over the past year, underperforming the average fund in its category, which rose 12.74%. The Vanguard fund, which launched in November 2011, has dropped 0.20% over the past three years and gained 0.32% over the past five years.
RBC Core Bond Pool
• Morningstar Medalist Rating: Gold
• Morningstar Category: Global Fixed Income
In October, the RBC Core Bond Pool fell 0.57%, while the average global fixed income fund gained 1.32%. The fund placed in the 29th percentile for performance and edged out its benchmark, the FTSE Canada Universe_CA Index, by 0.44 percentage points.
The C$4.9 billion 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$7 billion Fidelity Greater Canada Fund, which gained 2.59%. The bottom performer was the C$27.5 billion PIMCO Monthly Income Fund (Canada), which lost 1.55%.
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
In October, the Fidelity Canadian Large Cap Fund fell 0.36%, while the average Canadian focused equity fund gained 2.44%. The fund placed in the 70th percentile for performance. The C$8.5 billion fund has climbed 19.15% over the past year, underperforming the average fund in its category, which rose 25.13%. The Fidelity International fund was launched in May 2023.
Fidelity Greater Canada Fund
• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Focused Equity
The Fidelity Greater Canada Fund gained 2.59% in October, outperforming the average fund in the Canadian focused equity category, which rose 2.44%. The C$7 billion fund has gained 22.60% over the past year, while the average fund in its category is up 25.13%. The Fidelity International fund was launched in May 2023.
CI High Interest Savings ETF
• Morningstar Medalist Rating: None
• Morningstar Category: Canadian Money Market
In October, the CI High Interest Savings ETF rose 0.33%, while the average Canadian money market fund gained 0.29%. The fund placed in the 16th percentile for performance. The C$6.8 billion fund has climbed 4.71% over the past year, outperforming the average fund in its category, which rose 4.47%. The CI Investments fund, which launched in May 2019, has climbed 3.75% over the past three years and gained 2.59% over the past five years.
RBC North American Value Fund
• Morningstar Medalist Rating: Gold
• Morningstar Category: Canadian Focused Equity
The C$6.6 billion RBC North American Value Fund rose 0.34% in October. The gain on the fund was shy of the 2.44% gain on the average fund in the Canadian focused equity category, leaving it in the 46th percentile for performance. Over the past year, the RBC fund rose 30.66%, while the average fund in its category rose 25.13%. The fund was launched in March 2023.
Fidelity Tactical High Income Fund
• Morningstar Medalist Rating: None
• Morningstar Category: Tactical Balanced
The C$6.5 billion Fidelity Tactical High Income Fund rose 1.63% in October. The fund lagged its benchmark, the S&P 500 Index, by 0.61 percentage points. The Fidelity International fund was launched in May 2024.
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.
