XEQT vs the S&P 500 in crashes, in Canadian dollars (Oct 2003 - Nov 4 2026)

Top: growth of $1 (log scale). Bottom: % below its own previous high. Shaded: crash periods.

source: Yahoo Finance daily adjusted closes (dividends in): XEQT.TO, XIC.TO, SPY, EFA, EEM, ACWI; USD/CAD from Yahoo CAD=X; World Bank CM.MKT.LCAP.CD (stock-market value by country) • transform: XEQT-like line = real XEQT.TO from its Aug 14 2019 launch. Before that, a proxy rebalanced monthly the way XEQT is set: 25% Canada (XIC.TO) + 75% world by market value. World part = ACWI (MSCI All Country World, which itself holds ~3% Canada) from Apr 2008; Oct 2003-Mar 2008 = SPY / EFA / EEM weighted by the US and emerging-market shares of world stock-market value at the prior year-end (US 46% to 33%, EM 6% to 18%; 2003 uses 2003 shares). Dotted line = the proxy carried on after launch, as a check: x2.72 vs real XEQT x2.65. US funds converted to CAD daily. Drops are high-to-low inside each shaded period; recovery = months from the low until the old high is passed. Fund fees are in; tax is not. • drawn 2026-11-05 04:03 UTC