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S&P/TSX Energy Index climbs 16% in July as sector leads

Canadian energy equity ETFs saw $244 million in net outflows during the month, even as the Energy index rose 16%.

Reported · Written up by our desk · ETFs

The S&P/TSX Energy Index rose 16% in July, making energy the standout performer in an otherwise subdued Canadian equity market, according to ETF Trends.

Oil and Gas led within the index, with gains of 12% in large-cap and 7% in mid-cap, while clean technology and renewable energy fell 6% in both large-cap and small-cap segments and micro-cap energy-related firms declined 9%. Technology also lagged, with large-cap technology down 4% and micro-cap technology down 14%.

Despite energy’s strong index performance, Canadian energy equity ETFs recorded $244 million in net outflows. By contrast, the broader Canadian-listed ETF market attracted $18.2 billion of net new capital, including $12.5 billion into equity ETFs.

ETF Trends also highlighted that market leadership appeared narrow, with broad-market and international equity funds taking much of the demand. At the company level, Canadian Natural Resources Limited was the most actively traded large-cap issuer with 257.6 million shares changing hands in July, followed by TELUS with 207.4 million shares.

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