In June, equity markets delivered mixed returns across major benchmarks. The S&P/TSX advanced 0.5%, while the S&P 500 declined 1.0%. International markets also moved lower, with the MSCI ACWI ex-USA decreasing 0.6%.
Over the past 12 months, the S&P/TSX continued to demonstrate strong performance, gaining 32.9% and outpacing the S&P 500, which returned 22.3%. The MSCI ACWI ex-USA also performed well, recording a one-year return of 28.3%.
The NQICAT index delivered a monthly gain of 2.9% in June, trailing the Canadian market but outperforming both U.S. and international equities. On a one-year basis, the index posted a return of 22.8%.
At the sector level, Financials, Consumer Staples, and Health Care were the strongest contributors in June, rising 8.8%, 6.1%, and 3.2%, respectively. In contrast, Materials, Telecom, and Energy were the weakest-performing sectors, declining 12.1%, 9.9%, and 7.9%, respectively.
Within the NQICAT, the top-performing holdings were Alimentation Couche-Tard Inc. (ATD.TO), Canadian Tire Corporation Ltd. (CTC.A.TO), and National Bank of Canada (NA.TO), which gained 16.1%, 11.4%, and 11.2%, respectively. The weakest performers were K92 Mining Inc. (KNT.TO), Wesdome Gold Mines Ltd. (WDO.TO), and Canadian Natural Resources Ltd. (CNQ.TO), which declined 13.7%, 12.9%, and 10.5%, respectively.