August 2025 marked a continued period of gain for the Canadian and US markets. The S&P/TSX increased by 5%, while the S&P 500 increased by 2%. In contrast, the MSCI ACWI ex-USA increased 3.5%.
The 12-month performance metrics highlighted the S&P/TSX has now outpaced the S&P 500 with a 25.9% annual gain, compared to the MSCI ACWI ex-USA’s 16.1%. Both indices continue to outperform the S&P 500, which recorded a 15.9% one-year return.
The NQICAT index underperformed the broader market, registering a monthly increase of 1.3% in August and an 5% annual performance.
Sector-level analysis for August identified the best and worst performers. Materials, Healthcare, and Telecom led the gains, rising by 15.9%, 8.8%, and 4.4%, respectively. Conversely, Consumer Staples, Industrials, and Utilities experienced the lowest returns, falling by -0.2%, -0.1%, and 0.3% respectively.
Within the NQICAT, the top three gains were found in goeasy Ltd. (GSY.TO), which rose by +16.4%, while Dundee Precious Metals Inc. (DPM.TO) and TFI International Inc. (TFII.TO) gained +13.7% and +8.0%, respectively. On the other hand, EQB Inc. (EQB.TO) experienced the lowest return with a decline of 12.2%, followed by Canadian Tire Ltd. (CTC-A.TO) at -7.7% and Restaurant Brands Intl. Inc. (QSR.TO) at -7.5%.
