In the third quarter of 2025, the S&P/TSX rose by 12.5%. Meanwhile, the S&P 500 rose by 8.1%. The MCSI ACWI ex USA saw the lowest increase of 7.0% compared to the other two.
At the end of the 12-month period ending September 30, the S&P/TSX had an incredible performance of 28.6%. The S&P 500 grew by 17.6%, while the MSCI ACWI ex USA experienced an increase of 17.1%.
The NQICAT reported a quarterly performance increase of 1.5%, and on an annual basis, it grew by 3.2%.
The top- performing TSX sectors for the second quarter included Materials, which was up by 37.8%, Financials, which was up by 10.6% and Energy, which was up by 9.5%
Most sectors growth was positive, with Industrials and Consumer Staples being the only two exceptions, as Industrials declined by 1.6% and Consumer Staples saw a decline of -0.3%.
The leading quarterly performers in NQICAT was DPM Metals Inc, which reported an incredible increase of 41%, followed by First National Financial Corp with a growth of 18.1%, and Imperial Oil with a growth of 17.3%.
On the other hand, the underperformers in NQICAT included Constellation Software Inc, which reported a decline of 24.3%, Intact Financial Corporation, which decreased by 14.1%, and Canadian Tire Ltd., which saw a drop of 9.7%. Canadian Tire was added mid quarter in the strategy.
