In October, the S&P/TSX increased by 1.2%, while the S&P 500 declined by 0.9%. The MSCI ACWI ex-USA also posted a negative return of 2.8%.
The 12-month performance metrics highlighted that the NQICAT index led with a 22.7% annual gain, followed by the S&P/TSX with a 20.4% return. The MSCI ACWI ex-USA recorded a 14.8% one-year return, while the S&P 500 posted a 12.1% gain over the same period.
The NQICAT index underperformed the broader Canadian market during the month, registering a decline of 1.0% in October. However, its year-to-date performance remained strong at 16.9%, compared with 14.4% for the S&P/TSX, 11.8% for the S&P 500, and 11.4% for the MSCI ACWI ex-USA.
Sector-level analysis for October identified the top and bottom performers. Energy, Consumer Staples, and Utilities led the gains, rising by 12.7%, 6.7%, and 5.3%, respectively. Conversely, Materials, HealthCare, and IT recorded the weakest performances, with returns of -13.1%, +0.3%, and +1.1%, respectively.
Within the NQICAT, the top three gains were found in Canadian Natural Resources Ltd. (CNQ.TO), which rose by 18.1%, followed by Constellation Software Inc. (CSU.TO) at 17.3% and CGI Inc. (GIB-A.TO) at 16.2%. On the other hand, Wesdome Gold Mines Ltd. (WDO.TO) experienced the largest decline at -27.3%, followed by Altius Mineral Corp. (ALS.TO) at -23.8% and Dundee Precious Metals Inc. (DPM.TO) at -22.5%.