Canadian ETF Flows & Market Action | July 20–24, 2026
A recap of Canadian ETF flows, performance and market activity for July 20–24, 2026.
Canadian-listed ETFs attracted C$3.41 billion in net inflows during the week ending July 24, led by C$2.28 billion in equity allocations, while fixed income ETFs added a further C$805.6 million in another week of strong demand.
Equity ETFs Continue to Lead Weekly Allocations
Equity ETFs gathered C$2.28 billion in net inflows, comfortably outpacing every other asset class. Fixed income ETFs followed with C$805.6 million, while multi-asset products attracted C$337.6 million. Commodity ETFs added C$16.9 million, and cryptocurrency ETFs recorded C$10.0 million in inflows. Currency ETFs and volatility strategies were the only asset classes to finish the week in negative territory.
Sector Flows: Communication Services Leads While Financials Record Largest Outflow
Communication Services recorded the strongest sector inflow, attracting C$48.7 million, followed by Health Care with C$11.1 million. Real Estate, Materials, Consumer Staples, Information Technology, Utilities and Industrials all posted positive inflows during the week.
Financials experienced the largest sector outflow at C$360.6 million, while Energy ETFs recorded withdrawals of C$172.0 million. Consumer Discretionary also finished the week in negative territory.
Geographic Allocations Continue to Favor International Markets
U.S.-focused equity ETFs attracted the largest geographic allocation with C$997.1 million in net inflows. Developed Markets followed with C$510.4 million, while Emerging Markets gathered C$180.5 million.
World equity strategies added C$154.9 million, and Canada-focused ETFs recorded C$34.7 million of inflows. Smaller positive allocations were also directed toward Japan, Europe, Developed Pacific and broader North American exposures.
Fixed Income Flows Concentrated in Investment Grade Strategies
Within fixed income, Aggregate Investment Grade ETFs attracted the largest allocation at C$392.9 million. Corporate Investment Grade products gathered C$116.1 million, followed by Municipal Investment Grade ETFs with C$103.8 million. Aggregate Bond, Government Investment Grade and Corporate High Yield strategies also recorded positive inflows over the week.
Thematic ETF Flows: Infrastructure and Technology Lead
Among thematic strategies, Global Infrastructure recorded the largest inflow at C$32.9 million, narrowly ahead of Disruptive Technology at C$32.8 million.
Cryptocurrency themes added C$10.0 million, while North America Energy Infrastructure gathered C$4.5 million. Green Projects, Net Zero 2050 and Artificial Intelligence & Big Data also finished the week with positive inflows.
On the downside, Cybersecurity recorded outflows of C$2.4 million, while Water strategies declined by C$1.7 million.
Commodity ETF Flows: Gold Dominates Weekly Allocations
Commodity ETF activity remained relatively modest. Gold products led the category with C$22.3 million in inflows, followed by Crude Oil at C$1.2 million and Precious Metals at C$0.6 million. Multi-Commodity products recorded C$6.6 million in outflows.
Cryptocurrency ETF Flows: Bitcoin Leads Digital Asset Allocations
Within cryptocurrency ETFs, Bitcoin products attracted C$12.1 million, while XRP added C$1.0 million. Ether products experienced C$3.1 million in outflows, contributing to mixed flows across the digital asset segment.
Vanguard Leads Weekly Issuer Rankings
Vanguard was the largest asset gatherer of the week with C$942.1 million in net inflows. iShares followed with C$751.9 million, while Fidelity attracted C$453.1 million.
The remaining top issuers by weekly net inflows were:
- Vanguard: C$942.1 million
- iShares: C$751.9 million
- Fidelity: C$453.1 million
- BMO: C$337.3 million
- Global X: C$173.8 million
TD Asset Management recorded the largest issuer outflow during the week.
Top Performing ETFs
- Dynamic Active Global Gold ETF (DXAU): +8.57%
- BMO Junior Gold Index ETF (ZJG): +7.18%
- Harvest Global Gold Giants Index ETF (HGGG): +6.91%
- BMO Equal Weight Global Gold Index ETF (ZGD): +6.84%
- iShares S&P/TSX Capped Materials Index ETF (XMA): +6.56%
- RBC Global Precious Metals Fund (RGPM): +6.52%
- Global X Copper Producers Index ETF (COPP): +6.48%
- Ninepoint Gold and Precious Minerals Fund (GLDE): +6.30%
- Purpose Silver Bullion Fund (SBT.B): +6.27%
- iShares S&P/TSX Global Gold Index ETF (XGD): +6.21%
Most Popular ETFs by Net Inflows
- Vanguard S&P 500 Index ETF (VFV): C$197.3 million
- iShares Core S&P/TSX Capped Composite ETF (XIC): C$190.9 million
- iShares Core MSCI EAFE IMI Index ETF (XEF): C$173.5 million
- Vanguard All-Equity ETF Portfolio (VEQT): C$147.4 million
- BMO S&P 500 Index ETF (ZSP): C$126.9 million
- Global X NASDAQ-100 Index ETF (QQQX): C$114.8 million
- iShares Core S&P Total U.S. Stock Market ETF (XTOT): C$109.5 million
- Vanguard U.S. Total Market Index ETF (VUN): C$103.9 million
- Desjardins Canadian Universe Bond Index ETF (DCU): C$86.9 million
- BMO S&P/TSX Capped Composite Index ETF (ZCN): C$85.0 million
The largest ETF outflows during the week were recorded by BMO Equal Weight Banks Index ETF (ZEB) at C$231.8 million, followed by iShares S&P/TSX Capped Energy Index ETF (XEG) with C$185.1 million in net redemptions.
This article was written on July 27th, 2026. Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.
