In March, the S&P/TSX decreased by 4.3%, while the S&P 500 decreased by 5.0%. In contrast, the MSCI ACWI ex-USA decreased 10.7%.
The 12-month performance metrics highlighted the S&P/TSX has now outpaced the S&P 500 with a 34.8% annual gain, compared to the MSCI ACWI ex-USA’s 25.6%. Both indices continue to outperform the S&P 500, which recorded a 17.8% one-year return.
The NQICAT index underperformed the broader market, registering a monthly decrease of 6.2% in March and 22.6% annual performance.
Sector-level analysis for March identified the best and worst performers. Energy, IT, and Utilities led the gains, rising by 15.8%, 0.5%, and 0.4%, respectively. Conversely, Materials, Consumer Discretionary, and HealthCare experienced the lowest returns, falling by -16.4%, -7.5%, and -7.1% respectively.
Within the NQICAT, the top three gains were found in Imperial Oil Ltd (IMO.TO), which rose by +14.2%, while Canadian Natural Resources Ltd (CNQ.TO) and ATCO Ltd (ACO-X.TO) gained +13.7% and +5.8%, respectively. On the other hand, goeasy ltd. (GSY.TO) experienced the lowest return with a decline of -64.4%, followed by Mineros S.A. (MSA.TO) at -34.3% and K92 Mining Inc (KNT.TO) at -28.2%.