How the Largest ETFs in Canada Performed

In the global markets, stocks gained 5.32% during May, as measured by the Morningstar Global Markets Index. Bonds fell 0.93%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 14.37% and global bonds are are up 7.66%.

Largest Canadian Stock ETF Performance

Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$11.7 billion iShares Core S&P 500 Index ETF (CAD-Hedged) XSP, which gained 5.93%. The bottom performer was the C$10 billion Fidelity Canadian Large Cap Fund FCLC, which gained 0.72%.

Here’s more about the performance of the largest stock ETFs.

Vanguard S&P 500 Index ETF VFV

• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity

The C$22.3 billion Vanguard S&P 500 Index ETF rose 5.80% in May. The gain on the fund beat the 5.24% gain on the average fund in the US equity category, leaving it in the 41st percentile for performance. Over the past year, the Vanguard fund rose 13.79%, while the average fund in its category rose 10.58%. The fund, launched in November 2012, has climbed 17.12% over the past three years and 15.48% over the past five.

BMO S&P 500 Index ETF ZSP

• Morningstar Medalist Rating: Gold
• Morningstar Category: US Equity

The BMO S&P 500 Index ETF gained 5.78% in May, outperforming the average fund in the US equity category, which rose 5.24%. The C$20.3 billion fund has gained 13.99% over the past year, while the average fund in its category is up 10.58%. The BMO fund, launched in November 2012, has climbed 17.18% over the past three years and 15.49% over the past five.

iShares S&P/TSX 60 Index ETF XIU

• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Equity

The iShares S&P/TSX 60 Index ETF gained 5.13% in May, performing roughly in line with the average fund in the Canadian equity category, which rose 5.30%. The C$16.8 billion fund has gained 21.16% over the past year, while the average fund in its category is up 19.16%. The iShares fund, launched in September 1999, has climbed 11.16% over the past three years and 14.77% over the past five.

iShares Core S&P/TSX Capped Composite Index ETF XIC

• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Equity

In May, the iShares Core S&P/TSX Capped Composite Index ETF rose 5.55%, while the average Canadian equity fund gained 5.30%. The fund placed in the 33rd percentile for performance. The C$16.3 billion fund has climbed 20.94% over the past year, outperforming the average fund in its category, which rose 19.16%. The iShares fund, launched in February 2001, has climbed 11.48% over the past three years and 14.86% over the past five.

iShares Core MSCI EAFE IMI Index ETF XEF

• Morningstar Medalist Rating: Silver
• Morningstar Category: International Equity

The C$12.2 billion iShares Core MSCI EAFE IMI Index ETF rose 4.31% in May. The gain on the fund beat the 3.99% gain on the average fund in the international equity category, leaving it in the 39th percentile for performance. Over the past year, the iShares fund rose 14.40%, while the average fund in its category rose 11.29%. The fund, launched in April 2013, has climbed 14.02% over the past three years and 10.90% over the past five.

Largest Canadian Bond ETF Performance

Out of the 10 largest Canadian bond ETFs, the top performer last month was the C$4.3 billion BMO Short Corporate Bond Index ETF ZCS.L, which gained 0.43%. The bottom performer was the C$3.5 billion BMO Long Federal Bond Index ETF ZFL, which lost 0.77%.

Here’s more about the performance of the largest bond ETFs.

PIMCO Monthly Income Fund (Canada) PMIF

• Morningstar Medalist Rating: Silver
• Morningstar Category: Multi-Fixed Income

The PIMCO Monthly Income Fund (Canada) gained 0.03% in May, underperforming the average fund in the multi-fixed income category, which rose 0.47%. The fund placed in the 80th percentile for performance and beat its benchmark, the Bloomberg US Aggregate Bond Index, by 0.9 percentage points.

The C$29.9 billion fund has gained 6.34% over the past year, while the average fund in its category is up 5.95%. The PIMCO fund, launched in September 2017, has climbed 4.77% over the past three years and 3.59% over the past five.

BMO Aggregate Bond Index ETF ZAG

• Morningstar Medalist Rating: Bronze
• Morningstar Category: Canadian Fixed Income

In May, the BMO Aggregate Bond Index ETF rose 0.04%, while the average Canadian fixed income fund gained 0.03%. The fund placed in the 45th percentile for performance. The C$11.3 billion fund has climbed 7.18% over the past year, outperforming the average fund in its category, which rose 6.78%. The BMO fund, launched in January 2010, has climbed 3.48% over the past three years and lost 0.12% over the past five.

iShares Core Canadian Universe Bond Index ETF XBB

• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income

The C$8.2 billion iShares Core Canadian Universe Bond Index ETF rose 0.03% in May. The gain on the fund beat the 0.03% gain on the average fund in the Canadian fixed income category, leaving it in the 47th percentile for performance. Over the past year, the iShares fund rose 7.20%, while the average fund in its category rose 6.78%. The fund, launched in November 2000, has climbed 3.47% over the past three years and lost 0.14% over the past five.

RBC Core Bond Pool RCOR

• Morningstar Medalist Rating: Gold
• Morningstar Category: Global Core Plus Fixed Income

In May, the RBC Core Bond Pool rose 0.29%, while the average global core plus fixed income fund lost 0.15%. The fund placed in the 17th percentile for performance and beat its benchmark, the FTSE Canada Universe CA Index, by 0.27 percentage points.

The C$5.8 billion fund has climbed 6.51% over the past year, outperforming the average fund in its category, which rose 5.13%. The RBC fund launched in March 2024.

Vanguard Canadian Aggregate Bond Index ETF VAB

• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Fixed Income

The Vanguard Canadian Aggregate Bond Index ETF lost 0.03% in May, underperforming the average fund in the Canadian fixed income category, which rose 0.03%. The C$5.6 billion fund has gained 7.05% over the past year, while the average fund in its category is up 6.78%. The Vanguard fund, launched in November 2011, has climbed 3.39% over the past three years and lost 0.23% over the past five.

Largest Canadian Active ETF Performance

While passive ETFs have portfolios that track an index, active ETFs have managers who decide which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost than traditional actively managed mutual funds.

Out of the 10 largest Canadian active ETFs, the top performer last month was the C$7.7 billion Fidelity Greater Canada Fund FCGC, which gained 7.32%. The bottom performer was the C$29.9 billion PIMCO Monthly Income Fund (Canada) PMIF, which gained 0.03%.

Here’s more about the performance of the largest active ETFs.

Fidelity Canadian Large Cap Fund FCLC

• Morningstar Medalist Rating: Bronze
• Morningstar Category: Canadian Focused Equity

The Fidelity Canadian Large Cap Fund gained 0.72% in May, underperforming the average fund in the Canadian focused equity category, which rose 5.16%. The C$10 billion fund has gained 18.60% over the past year, while the average fund in its category is up 14.07%. The Fidelity International fund launched in May 2023.

Fidelity Tactical High Income Fund FTHI

• Morningstar Medalist Rating: Silver
• Morningstar Category: Tactical Balanced

The C$7.8 billion Fidelity Tactical High Income Fund rose 2.92% in May.The fund lagged its benchmark, the S&P 500 Index, by 2.88 percentage points. Over the past year, the Fidelity International fund rose 5.59%. The fund launched in May 2024.

iShares Core Equity ETF Portfolio XEQT

• Morningstar Medalist Rating: Bronze
• Morningstar Category: Global Equity

In May, the iShares Core Equity ETF Portfolio rose 5.36%, while the average global equity fund gained 5.12%. The fund placed in the 39th percentile for performance and performed roughly in line with its benchmark, the S&P/TSX Capped Composite Index.

The C$7.8 billion fund has climbed 15.51% over the past year, outperforming the average fund in its category, which rose 11.27%. The iShares fund, launched in August 2019, has climbed 14.26% over the past three years and 13.51% over the past five.

Fidelity Greater Canada Fund FCGC

• Morningstar Medalist Rating: Silver
• Morningstar Category: Canadian Focused Equity

The Fidelity Greater Canada Fund gained 7.32% in May, outperforming the average fund in the Canadian focused equity category, which rose 5.16%. The C$7.7 billion fund has gained 5.51% over the past year, while the average fund in its category is up 14.07%. The Fidelity International fund launched in May 2023.

RBC North American Value Fund RNAV

• Morningstar Medalist Rating: Gold
• Morningstar Category: Canadian Focused Equity

The RBC North American Value Fund gained 4.93% in May, performing roughly in line with the average fund in the Canadian focused equity category, which rose 5.16%. The C$7.6 billion fund has gained 16.41% over the past year, while the average fund in its category is up 14.07%. The RBC fund launched in March 2023.

This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation.

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