{"id":53580,"date":"2025-12-01T21:00:44","date_gmt":"2025-12-01T21:00:44","guid":{"rendered":"https:\/\/www.inovestor.com\/?p=53580"},"modified":"2025-12-01T21:00:25","modified_gmt":"2025-12-01T21:00:25","slug":"portfolio-managers-comment-for-november-results","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/en-ca\/2025\/12\/portfolio-managers-comment-for-november-results\/","title":{"rendered":"Portfolio Manager\u2019s Comment for November Results"},"content":{"rendered":"<p><span data-contrast=\"auto\">November 2025 marked a continued period of gain for the Canadian and US markets. The S&amp;P\/TSX increased by 3.9%, while the S&amp;P 500 increased only by 0.2%. In contrast, the MSCI ACWI ex-USA saw no gain.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The 12-month performance metrics highlighted the S&amp;P\/TSX has now outpaced the S&amp;P 500 with a 25.7% annual gain. The MSCI ACWI ex-USA\u2019s has the highest annual gain among the three with a 26.7%. Both indices continue to outperform the S&amp;P 500, which recorded a 15.0% one-year return.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The NQICAT index outperformed the broader market, registering a monthly increase of 4.7% in November, however, underperformed annually with a 7.9% annual performance.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Sector-level analysis for November identified the best and worst performers. Materials, Consumer Staples, and Energy led the gains, rising by 14.6%, 9.1%, and 8.5%, respectively. Conversely, IT, Healthcare, and Industrials experienced the lowest returns, falling by -5.5%, -5.3%, and -1.3% respectively.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Within the NQICAT, the top three gains were found in Dundee Precious Metals Inc. (DPM.TO), which rose by +30.0%, while Mineros S.A. (MSA.TO) and Quebecor Inc. (QBR.B.TO) gained +18.2% and +17.7%, respectively. On the other hand, Hammond Power Solutions Inc. (HPS-A.TO) experienced the lowest return with a decline of -19.0%, followed by goeasy Ltd. (GSY.TO) at -17.0% and Constellation Software Inc. (CSU.TO) at -8.4%.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>November 2025 marked a continued period of gain for the Canadian and US markets. The S&amp;P\/TSX increased by 3.9%, while the S&amp;P 500 increased only by 0.2%. In contrast, the MSCI ACWI ex-USA saw no gain.\u00a0 The 12-month performance metrics highlighted the S&amp;P\/TSX has now outpaced the S&amp;P 500 with a 25.7% annual gain. The [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55],"tags":[],"class_list":["post-53580","post","type-post","status-publish","format-standard","hentry","category-modelportfolio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Portfolio Manager\u2019s Comment for November Results - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/en-ca\/2025\/12\/portfolio-managers-comment-for-november-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portfolio Manager\u2019s Comment for November Results\" \/>\n<meta property=\"og:description\" content=\"November 2025 marked a continued period of gain for the Canadian and US markets. The S&amp;P\/TSX increased by 3.9%, while the S&amp;P 500 increased only by 0.2%. In contrast, the MSCI ACWI ex-USA saw no gain.\u00a0 The 12-month performance metrics highlighted the S&amp;P\/TSX has now outpaced the S&amp;P 500 with a 25.7% annual gain. 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