Morningstar

How the Largest ETFs in Canada Performed

iShares Core S&P 500 Index ETF (CAD-Hedged) led stock ETF returns in June, while Fidelity Canadian Large Cap Fund lagged.

, and
Illustration de collage du mot "ETF" avec une horloge et des formes en arrière-plan.

Each month, we check in on the performance of the largest Canadian stock, bond, and active exchange-traded funds.

The Morningstar Canada Index rose 2.96% during June, while the Morningstar Canada Core Bond Index gained 0.02%. Over the past year, the Canadian stock market is up 27.47%, while the Canadian bond market has risen 5.71%. The Morningstar US Market Index rose 4.29% during June and is up 14.98% over the past year. The Morningstar US Core Bond Index rose 0.74% last month and is up 5.71% over the past year.

In the global markets, stocks gained 3.71% during June, as measured by the Morningstar Global Markets Index. Bonds rose 1.09%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 15.93% and global bonds are are up 8.31%.

Largest Canadian Stock ETF Performance

Out of the 10 largest Canadian stock ETFs, the top performer last month was the C$12.2 billion iShares Core S&P 500 Index ETF (CAD-Hedged) XSP, which gained 4.93%. The bottom performer was the C$10.3 billion Fidelity Canadian Large Cap Fund FCLC, which gained 1.18%.

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

Vanguard S&P 500 Index ETF

In June, the Vanguard S&P 500 Index ETF rose 4.30%, while the average US equity fund gained 5.24%. The fund placed in the 43rd percentile for performance. The C$23.5 billion fund has climbed 14.23% over the past 12 months, outperforming the average fund in its category, which rose 10.58%. The Vanguard fund, launched in November 2012, has climbed 21.56% over the past three years and 16.38% over the past five.

BMO S&P 500 Index ETF

The C$21.5 billion BMO S&P 500 Index ETF rose 4.24% in June. The gain on the fund was shy of the 5.24% gain on the average fund in the US equity category, leaving it in the 47th percentile for performance. Over the past 12 months, the BMO fund rose 14.31%, while the average fund in its category rose 10.58%. The fund, launched in November 2012, has climbed 21.57% over the past three years and 16.33% over the past five.

iShares Core S&P/TSX Capped Composite Index ETF

The C$17.3 billion iShares Core S&P/TSX Capped Composite Index ETF rose 2.90% in June. The gain on the fund was shy of the 5.30% gain on the average fund in the Canadian equity category, leaving it in the 32nd percentile for performance. Over the past 12 months, the iShares fund rose 26.24%, while the average fund in its category rose 19.16%. The fund, launched in February 2001, has climbed 16.01% over the past three years and 14.96% over the past five.

iShares S&P/TSX 60 Index ETF

In June, the iShares S&P/TSX 60 Index ETF rose 2.22%, while the average Canadian equity fund gained 5.30%. The fund placed in the 65th percentile for performance. The C$17 billion fund has climbed 26.09% over the past 12 months, outperforming the average fund in its category, which rose 19.16%. The iShares fund, launched in September 1999, has climbed 15.27% over the past three years and 14.78% over the past five.

iShares Core MSCI EAFE IMI Index ETF

In June, the iShares Core MSCI EAFE IMI Index ETF rose 1.69%, while the average international equity fund gained 3.99%. The fund placed in the 28th percentile for performance. The C$12.6 billion fund has climbed 18.05% over the past 12 months, outperforming the average fund in its category, which rose 11.29%. The iShares fund, launched in April 2013, has climbed 17.76% over the past three years and 10.92% 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$30.6 billion PIMCO Monthly Income Fund (Canada) PMIF, which gained 1.76%. The bottom performer was the C$3.6 billion BMO Long Federal Bond Index ETF ZFL, which lost 1.18%.

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

PIMCO Monthly Income Fund (Canada)

The C$30.6 billion PIMCO Monthly Income Fund (Canada) rose 1.76% in June. The gain on the fund beat the 0.47% gain on the average fund in the multi-fixed income category, leaving it in the 11th percentile for performance. The fund beat its benchmark, the Bloomberg US Aggregate Bond Index, by 0.38 percentage points.

Over the past 12 months, the PIMCO fund rose 7.66%, while the average fund in its category rose 5.95%. The fund, launched in September 2017, has climbed 6.39% over the past three years and 3.70% over the past five.

BMO Aggregate Bond Index ETF

The BMO Aggregate Bond Index ETF gained 0.04% in June, outperforming the average fund in the Canadian fixed income category, which rose 0.03%. The C$11.2 billion fund has gained 6.02% over the past 12 months, while the average fund in its category is up 6.78%. The BMO fund, launched in January 2010, has climbed 4.25% over the past three years and lost 0.45% over the past five years.

iShares Core Canadian Universe Bond Index ETF

The iShares Core Canadian Universe Bond Index ETF gained 0.04% in June, outperforming the average fund in the Canadian fixed income category, which rose 0.03%. The C$8.1 billion fund has gained 6.04% over the past 12 months, while the average fund in its category is up 6.78%. The iShares fund, launched in November 2000, has climbed 4.24% over the past three years and lost 0.46% over the past five years.

RBC Core Bond Pool

The RBC Core Bond Pool gained 0.77% in June, outperforming the average fund in the global core plus fixed income category, which fell 0.15%. The fund placed in the 67th percentile for performance and beat its benchmark, the FTSE Canada Universe CA Index, by 0.71 percentage points.

The C$5.9 billion fund has gained 6.52% over the past 12 months, while the average fund in its category is up 5.13%. The RBC fund launched in March 2024.

Vanguard Canadian Aggregate Bond Index ETF

In June, the Vanguard Canadian Aggregate Bond Index ETF rose 0.06%, while the average Canadian fixed income fund gained 0.03%. The fund placed in the 59th percentile for performance. The C$5.6 billion fund has climbed 5.87% over the past 12 months, underperforming the average fund in its category, which rose 6.78%. The Vanguard fund, launched in November 2011, has climbed 4.17% over the past three years and lost 0.53% over the past five years.

Largest Canadian Active ETF Performance

While passive ETFs track indexes, 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 Tactical High Income Fund FTHI, which gained 3.70%. The bottom performer was the C$6.8 billion Global X High Interest Savings ETF CASH, which gained 0.21%.

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

Fidelity Canadian Large Cap Fund

The C$10.3 billion Fidelity Canadian Large Cap Fund rose 1.18% in June. The gain on the fund was shy of the 5.16% gain on the average fund in the Canadian focused equity category, leaving it in the 93rd percentile for performance. Over the past 12 months, the Fidelity International fund rose 20.59%, while the average fund in its category rose 14.07%. The fund launched in May 2023.

iShares Core Equity ETF Portfolio

The C$8.3 billion iShares Core Equity ETF Portfolio rose 3.39% in June. The gain on the fund was shy of the 5.12% gain on the average fund in the global equity category, leaving it in the 36th percentile for performance. The fund beat its benchmark, the S&P/TSX Capped Composite Index, by 0.48 percentage points.

Over the past 12 months, the iShares fund rose 18.35%, while the average fund in its category rose 11.27%. The fund, launched in August 2019, has climbed 18.43% over the past three years and 13.90% over the past five.

RBC North American Value Fund

The RBC North American Value Fund gained 3.25% in June, underperforming the average fund in the Canadian focused equity category, which rose 5.16%. The C$7.9 billion fund has gained 20.70% over the past 12 months, while the average fund in its category is up 14.07%. The RBC fund launched in March 2023.

Fidelity Tactical High Income Fund

The C$7.7 billion Fidelity Tactical High Income Fund rose 3.70% in June.The fund lagged its benchmark, the S&P 500 Index, by 0.58 percentage points. Over the past 12 months, the Fidelity International fund rose 9.07%. The fund launched in May 2024.

Fidelity Greater Canada Fund

The C$7.7 billion Fidelity Greater Canada Fund rose 3.38% in June. The gain on the fund was shy of the 5.16% gain on the average fund in the Canadian focused equity category, leaving it in the 16th percentile for performance. Over the past 12 months, the Fidelity International fund rose 11.33%, while the average fund in its category rose 14.07%. The fund launched in May 2023.

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

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.

More In ETFs

The Best-Performing ETFs of Q2

BMO Equal Weight Global Base Metals Hedged to CAD Index ETF and Guardian i3 US Quality Growth Fund were among the best-performing ETFs in Q2 2025.
Bella Albrecht

The Worst-Performing ETFs of Q2

TD Q US Low Volatility ETF and Middlefield Healthcare Dividend ETF were among the worst-performing ETFs in Q2 2025.
Bella Albrecht

Tips for Investing in Canada-Listed vs. US-Listed ETFs

What investors need to know about the difference between these two types of ETFs.
Lan Anh Tran