In July, the S&P/TSX increased by 1.2%, while the S&P 500 declined slightly by 0.1%. The MSCI ACWI ex-USA posted a gain of 0.4%.
The 12-month performance metrics highlighted that the S&P/TSX led with a 32.3% annual gain, followed by the MSCI ACWI ex-USA at 29.1%. Both indices outperformed the S&P 500, which recorded a 19.6% one-year return.
The NQICAT index outperformed the broader market during the month, registering an increase of 1.9% in July. Its annual performance remained strong at 24.5%.
Sector-level analysis for July identified the top and bottom performers. Energy, Consumer Staples, and HealthCare led the gains, rising by 16.4%, 1.7%, and 1.1%, respectively. Conversely, Telecom and Materials declined by 3.3% and 3.1%, respectively, while Industrials recorded a modest gain of 0.1%.
Within the NQICAT, the top three gains were found in Canadian Natural Resources Limited (CNQ.TO), which rose by 20.1%, followed by ARC Resources Ltd. (ARX.TO) at 13.2% and Constellation Software Inc. (CSU.TO) at 12.5%. On the other hand, Hammond Power Solutions Inc. (HPS.A.TO) experienced the lowest return with a decline of 27.8%, followed by Richelieu Hardware Ltd. (RCH.TO) at -13.0% and Altius Minerals Corporation (ALS.TO) at -8.7%.