Download - Capital markets data - RBC GAM
Capital markets dataMay 2022
Market performance
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Index Returns are Total Return (TR), in Canadian dollars unless otherwise noted. Source: RBC Global Asset Management. As of April 30, 2022. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The above does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
Equities Index Apr-22 3 Mo YTD 2021 2020 2019 2018Canadian Equities (Broad Market) S&P/TSX Composite TR -5.0% -0.9% -1.3% 25.1% 5.6% 22.9% -8.9%
Canadian Equities (Large Cap) S&P/TSX 60 TR -4.9% -1.4% -1.6% 28.0% 5.6% 21.9% -7.6%Canadian Equities (Small Cap) S&P/TSX SmallCap TR -6.4% 2.6% 1.4% 20.3% 12.9% 15.8% -18.2%
U.S. Equities (Large Cap) S&P 500 TR USD -8.7% -8.2% -12.9% 28.7% 18.4% 31.5% -4.4%U.S. Equities (Mid Cap) Russell Mid Cap TR USD -7.7% -6.0% -12.9% 22.6% 17.1% 30.5% -9.1%
U.S. Equities (Small Cap) Russell 2000 TR USD -9.9% -7.8% -16.7% 14.8% 20.0% 25.5% -11.0%U.S. Equities (Broad Market) Russell 3000 TR USD -9.0% -8.4% -13.8% 25.7% 20.9% 31.0% -5.2%
Global Equities MSCI World Net of Taxes TR -8.3% -8.2% -13.0% 20.8% 13.9% 27.7% -8.7%Global Developed Markets (ex U.S. & Can) MSCI EAFE Net of Taxes TR -4.3% -7.1% -11.0% 10.8% 6.4% 22.0% -13.8%
Emerging Markets Equities MSCI Emerging Markets TR -3.4% -10.0% -11.1% -3.1% 16.6% 12.9% -6.5%Fixed Income Index Apr-22 3 Mo YTD 2021 2020 2019 2018
Canadian Bonds FTSE Canada Universe Bond TR -3.5% -7.1% -10.2% -2.5% 8.7% 6.9% 1.4%U.S. Bonds Bloomberg U.S. Aggregate Bond Index TR -1.1% -6.5% -8.1% -2.2% 5.4% 8.7% 0.0%
U.S. High Yield Bonds ICE BofA US High Yield BB-B TR (CAD hedged) -3.7% -5.4% -8.1% 4.6% 5.1% 15.1% -2.0%Emerging Market Bonds JP Morgan EMBI Global Diversified (CAD hedged) -5.7% -12.7% -15.2% -2.0% 3.7% 15.0% -4.3%
Currencies (in Canadian Dollars) Spot (1 unit of foreign currency's worth in CAD) Apr-22 3 Mo YTD 2021 2020 2019 2018U.S. Dollar USD/CAD 1.28 2.8% 1.1% 1.6% -0.7% -2.0% -4.9% 8.6%
Euro EUR/CAD 1.36 -2.0% -5.1% -5.8% -7.5% 6.8% -6.9% 3.7%British Pound GBP/CAD 1.62 -1.6% -5.5% -5.6% -1.7% 1.2% -1.2% 2.5%
Japanese Yen (in JPY¥) JPY/CAD 0.010 -3.6% -10.4% -9.9% -10.9% 3.2% -4.1% 11.7%Commodities Spot Apr-22 3 Mo YTD 2021 2020 2019 2018
Gold (per ounce) Gold 1911.70 -2.2% 6.4% 4.5% -3.5% 24.4% 18.9% -2.1%Silver (per ounce) Silver 23.09 -8.1% 3.1% -1.1% -11.6% 47.4% 15.3% -9.4%
Copper (per pound) Copper 4.41 -7.2% 1.9% -1.2% 26.8% 25.8% 6.3% -20.3%Crude Oil (WTI per barrel) Crude Oil 104.69 4.4% 18.8% 39.2% 55.0% -20.5% 34.5% -24.8%
Natural Gas (per million btu) Natural Gas 7.36 30.4% 50.9% 106.8% 40.8% 15.4% -23.2% -3.5%
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U.S. and Canada equities sector performance
S&P/TSX (In CAD) Apr-22 3 Mo YTD
Energy 2.7% 17.5% 32.2%
Materials -4.8% 18.3% 14.3%
Industrials -8.0% -1.6% -4.4%
Consumer Discretionary -2.8% -8.5% -10.3%
Consumer Staples 0.4% 8.7% 5.8%
Healthcare -17.7% -17.2% -24.7%
Financials -6.2% -7.9% -4.2%
Information Technology -19.9% -35.1% -48.3%
Communication Services -1.3% 5.6% 7.4%
Utilities -1.3% 5.8% 3.5%
Real Estate -6.0% -5.0% -10.5%
S&P 500 (In USD) Apr-22 3 Mo YTD
Energy -1.5% 14.9% 36.9%
Materials -3.5% 1.1% -5.8%
Industrials -7.5% -5.2% -9.7%
Consumer Discretionary -13.0% -12.4% -20.9%
Consumer Staples 2.6% 2.9% 1.5%
Healthcare -4.7% -0.4% -7.2%
Financials -9.9% -11.3% -11.2%
Technology -11.3% -12.7% -18.7%
Communication Services -15.6% -20.8% -25.7%
Utilities -4.3% 3.7% 0.3%
Real Estate -3.6% -1.2% -9.6%
All returns are total return and as of April 30, 2022. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The above does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
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S&P/TSX and S&P 500 Sector Weights
Source: RBC GAM. As of April 30, 2022
31.2%
17.6%
13.3%
11.6%
5.7%
5.2%
4.8%
4.0%
3.3%
2.8%
0.6%
Financials
Energy
Materials
Industrials
Information Technolgy
Communication Services
Utilities
Consumer Staples
Consumer Discretionary
Real Estate
Health Care
S&P/TSX Composite Index
27.2%
14.2%
11.5%
11.0%
8.6%
8.0%
6.8%
4.2%
2.9%
2.9%
2.8%
Information Technology
Health Care
Consumer Discretionary
Financials
Communication Services
Industrials
Consumer Staples
Energy
Utilities
Real Estate
Materials
S&P 500 Index
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EM and EAFE equities sector performance
MSCI EM (In USD) Apr-22 3 Mo YTD
Energy 0.3% -22.2% -20.6%
Materials -8.2% -4.7% -5.2%
Industrials -4.6% -2.7% -7.1%
Consumer Discretionary -2.6% -14.1% -18.6%
Consumer Staples -2.6% -6.3% -10.3%
Healthcare -8.1% -9.7% -21.0%
Financials -4.9% -4.5% 0.5%
Technology -10.7% -15.9% -20.7%
Communication Services -3.7% -14.1% -14.6%
Utilities 1.1% 2.3% 0.9%
Real Estate -1.3% -8.4% -3.1%
MSCI EAFE (In USD) Apr-22 3 Mo YTD
Energy -2.2% 2.9% 14.4%
Materials -7.0% -1.2% -3.9%
Industrials -8.7% -10.6% -18.5%
Consumer Discretionary -9.2% -18.0% -21.5%
Consumer Staples -1.6% -4.1% -9.2%
Healthcare -3.6% 1.1% -7.2%
Financials -7.3% -9.5% -8.2%
Technology -11.6% -13.3% -25.8%
Communication Services -5.1% -4.7% -6.7%
Utilities -2.5% -3.6% -6.5%
Real Estate -5.4% -5.3% -8.0%
All returns are total return and as of April 30, 2022. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The above does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
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MSCI EAFE Index country and sector weights
Source: RBC GAM as of April 30, 2022.
17.5%
15.0%
13.5%
11.2%
10.7%
8.2%
8.2%
4.9%
4.3%
3.5%
2.9%
Financials
Industrials
Health Care
Consumer Discretionary
Consumer Staples
Information Technology
Materials
Communication Services
Energy
Utilities
Real Estate
MSCI EAFE Sector Weight
21.8%15.7%
11.4%10.5%
8.1%8.2%
4.2%3.5%
2.9%2.8%
2.3%2.4%
1.4%1.0%1.0%0.8%0.7%0.6%
0.2%0.2%0.2%
JapanUnited Kingdom
FranceSwitzerland
GermanyAustralia
NetherlandsSweden
Hong KongDenmark
ItalySpain
SingaporeFinland
BelgiumNorway
IsraelIreland
PortugalNew Zealand
Austria
MSCI EAFE Country Weight
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MSCI EM Index country and sector weights
Source: RBC GAM as of April 30, 2022
22.2%
20.5%
12.7%
10.3%
9.2%
6.0%
5.5%
5.0%
3.8%
2.7%
2.2%
Financials
Information Technology
Consumer Discretionary
Communication Services
Materials
Consumer Staples
Industrials
Energy
Health Care
Utilities
Real Estate
MSCI EM Sector weight
30.6%15.4%13.6%
12.5%5.3%
4.7%3.7%
2.2%1.9%1.9%1.5%1.5%1.0%0.8%0.8%0.6%0.5%0.2%0.3%0.2%0.2%0.2%0.2%0.1%
ChinaTaiwan, Province Of China
IndiaKorea, Republic Of
BrazilSaudi ArabiaSouth Africa
MexicoThailand
IndonesiaMalaysia
United Arab EmiratesQatar
KuwaitPhilippines
PolandChilePeru
TurkeyGreece
ColombiaHungary
Czech RepublicEgypt
MSCI EM Country Weight
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April total returns in CAD
-6.20%
-7.42%
-5.16% -4.96% -4.85%
-6.43% -6.14%
-4.21%
-3.35% -3.49%
-1.14%
-3.65%
-5.72%
S&P 500 U.S. Small Cap U.S. Mid Cap S&P/TSX S&P/TSX LargeCap
S&P/TSX SmallCap
MSCI World MSCI EAFE MSCI EM Canada BondUniverse
U.S. InvestmentGrade Bonds
U.S. High Yield EM Bonds
Source: RBC GAM, Data for month ending April 30, 2022. S&P 500: S&P 500 Total Return Index; U.S. Small Cap: Russell 2000 TR Index; U.S. Mid Cap: Russell Mid Cap TR Index; S&P/TSX: S&P/TSX Total Return Index; S&P/TSX Large Cap: S&P/TSX 60 TR Index. S&P/TSX Small Cap: S&P/TSX SmallCap TR Index; MSCI World: MSCI World Net of Taxes TR Index; MSCI EAFE: MSCI EAFE Net of Taxes TR Index; MSCI EM: MSCI Emerging Markets Net of Taxes TR Index; Canada Bond Universe: FTSE Canada Bond Universe TR Index; U.S. Investment Grade Bonds: Bloomberg U.S. Aggregate Bond Index TR Index; U.S. High Yield: ICE BofA US High Yield BB-B TR (CAD hedged) Index; EM Bonds; JP Morgan EMBI Global Diversified (CAD hedged) Index. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The graph does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
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Investment growth in CAD
Source: RBC GAM, Data as of April 30, 2022. S&P 500: S&P 500 Total Return Index; U.S. Small Cap: Russell 2000 TR Index; U.S. Mid Cap: Russell Mid Cap TR Index; S&P/TSX: S&P/TSX Total Return Index; S&P/TSX Large Cap: S&P/TSX 60 TR Index. S&P/TSX Small Cap: S&P/TSX SmallCap TR Index; MSCI World: MSCI World Net of Taxes TR Index; MSCI EAFE: MSCI EAFE Net of Taxes TR Index; MSCI EM: MSCI Emerging Markets Net of Taxes TR Index; Canada Bond Universe: FTSE Canada Bond Universe TR Index; U.S. Investment Grade Bonds: Bloomberg U.S. Aggregate Bond Index TR Index; U.S. High Yield: ICE BofA US High Yield BB-B TR (CAD hedged) Index; EM Bonds; JP Morgan EMBI Global Diversified (CAD hedged) Index. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The graph does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
10,474 8,688 9,814
11,156 11,339 10,673 10,067 9,589 8,513 9,210 9,562 9,483 8,528
17,851
13,350 15,617 15,476 15,978
13,496 15,565
12,087 11,754 10,289 9,989
11,506 9,721
46,829
33,918
40,361
22,803 24,415
16,222
35,586
23,756
17,830
12,394 15,445 16,121
12,993
S&P 500 U.S. SmallCap
U.S. Mid Cap S&P/TSX S&P/TSXLarge Cap
S&P/TSXSmall Cap
MSCI World MSCI EAFE MSCI EM Canada BondUniverse
U.S.Investment
Grade Bonds
U.S. HighYield
EM Bonds
Investment Growth of CAD 10,000 as of April 20221 Year 5 Years 10 Years
Index in CAD 1 Year (%) 5 Years (%) 10 Years (%)S&P 500 4.7% 12.3% 16.7%
U.S. Small Cap -13.1% 5.9% 13.0%
U.S. Mid Cap -1.9% 9.3% 15.0%
S&P/TSX 11.6% 9.1% 8.6%
S&P/TSX Large Cap 13.4% 9.8% 9.3%
S&P/TSX Small Cap 6.7% 6.2% 5.0%
MSCI World 0.7% 9.3% 13.5%
MSCI EAFE -4.1% 3.9% 9.0%
MSCI EM -14.9% 3.3% 6.0%
Canada Bond Universe -7.9% 0.6% 2.2%
U.S. Investment Grade Bonds -4.4% 0.0% 4.4%
U.S. High Yield -5.2% 2.8% 4.9%
EM Bonds -14.7% -0.6% 2.7%
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Annualized total returns over 1, 5 and 10 years in CAD
Source: RBC GAM as of April 30, 2022. S&P 500: S&P 500 Total Return Index; U.S. Small Cap: Russell 2000 TR Index; U.S. Mid Cap: Russell Mid Cap TR Index; S&P/TSX: S&P/TSX Total Return Index; S&P/TSX Large Cap: S&P/TSX 60 TR Index. S&P/TSX Small Cap: S&P/TSX SmallCap TR Index; MSCI World: MSCI World Net of Taxes TR Index; MSCI EAFE: MSCI EAFE Net of Taxes TR Index; MSCI EM: MSCI Emerging Markets Net of Taxes TR Index; Canada Bond Universe: FTSE Canada Bond Universe TR Index; U.S. Investment Grade Bonds: Bloomberg U.S. Aggregate Bond Index TR Index; U.S. High Yield: ICE BofA US High Yield BB-B TR (CAD hedged) Index; EM Bonds; JP Morgan EMBI Global Diversified (CAD hedged) Index. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The above does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
1 Month in USDValue Blend Growth
Large -5.6% -8.7% -12.1%Mid -5.9% -7.7% -11.3%
Small -7.8% -9.9% -12.3%
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U.S. equities returns by investment style in U.S.D
YTD in USDValue Blend Growth
Large -6.3% -12.9% -20.0%Mid -7.7% -12.9% -22.4%
Small -10.0% -16.7% -23.3%
1 Year in USDValue Blend Growth
Large 1.3% 0.2% -5.3%Mid 0.0% -6.1% -16.7%
Small -6.6% -16.9% -26.4%
3 Year in USDValue Blend Growth
Large 9.6% 13.8% 16.7%Mid 10.2% 10.5% 8.7%
Small 8.4% 6.7% 4.1%
5 Year in USDValue Blend Growth
Large 9.1% 13.7% 17.3%Mid 8.6% 10.7% 12.1%
Small 6.7% 7.2% 7.1%
10 Year in USDValue Blend Growth
Large 11.2% 13.7% 15.6%Mid 11.4% 12.0% 12.2%
Small 9.8% 10.1% 9.9%
Source: RBC GAM. Data as of April 30, 2022. Large Value: Russell 1000 Value TR U.S.D. Large Blend: S&P 500 TR U.S.D. Large Growth: Russell 1000 Growth TR U.S.D. Mid Value: Russell Mid Cap Value TR U.S.D. Mid Blend: Russell Mid Cap TR U.S.D. Mid Growth: Russell Mid Cap Growth TR U.S.D. Small Value: Russell 2000 Value TR U.S.D. Small Blend: Russell 2000 TR U.S.D. Small Growth: Russell 2000 Growth TR U.S.D. Rates of return less than one year are simple rates of return. An investment cannot be made directly into an index. The above does not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
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Market index update – 5 years normalized
All indices shown are total return in Canadian dollars. Data as of April 30, 2022. Source: Bloomberg, RBC GAM. An investment cannot be made directly into an index. The graphs do not reflect transaction costs, investment management fees or taxes. If such costs and fees were reflected, returns would be lower. Past performance is not a guarantee of future results.
5,000
10,000
15,000
20,000 S&P/TSX TR Index
5,000
10,000
15,000
20,000
25,000
30,000 S&P 500 TR Index
5,000
10,000
15,000
20,000 MSCI EM Index
5,000
10,000
15,000
20,000 MSCI EAFE Index
5,000
10,000
15,000
20,000 Bloomberg US Agg Total Return Value Index
5,000
10,000
15,000FTSE Canada Universe Bond Index
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Equity market valuations
Source: Bloomberg, RBC GAM. Data as of April 30, 2022. Canadian Equities represented by S&P/TSX Index. U.S. Equities represented by S&P 500 Index. EM Equities represented by MSCI EM Index, EAFE Equities represented by MSCI EAFE Index.
5
10
15
20
25
30Canadian Equities
Trailing P/ECurrent level: 16.5
Forward P/ECurrent level: 13.0
10 Yr. Avg: 19.6
10 Yr. Avg: 16.6
7
12
17
22
27
32
U.S. Equities Trailing P/ECurrent level: 20.8
Forward P/ECurrent level: 18.2
10 Yr. Avg: 20.1
10 Yr. Avg: 18.1
05
101520253035404550
EAFE Equities
Forward P/ECurrent level: 13.3
Trailing P/ECurrent level: 13.8
10 Yr. Avg: 19.7
10 Yr. Avg: 15.1
5.0
10.0
15.0
20.0
25.0
30.0 EM Equities
Trailing P/ECurrent level: 12.1
Forward P/ECurrent level: 11.6
10 Yr. Avg: 14.4
10 Yr. Avg: 12.7
Trailing P/E Ratio Forward P/E Ratio
0
10
20
30
40
50
60
70
80
90
Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 Apr-22
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U.S. equities 10-year volatility index
Source: COBE VIX® Index. Data as of April 30, 2022
15
25
35
Feb Mar Apr
Last 3 Months
15
1-Year Exchange RatesUpward slope: Foreign currency appreciates against CAD - more CAD to buy 1 unit of foreign currency (more expensive) Downward slope: Foreign currency depreciates against CAD - less CAD to buy 1 unit of foreign currency (less expensive)
Source: RBC GAM, Bloomberg. Data as of April 30, 2022.
1.14
1.16
1.18
1.20
1.22
1.24
1.26
1.28
1.30
1.32
Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22 Apr-22
USD/CAD Currency
1.30
1.35
1.40
1.45
1.50
1.55
1.60
1.65
Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22 Apr-22
EUR/CAD Currency
0.0080
0.0085
0.0090
0.0095
0.0100
0.0105
0.0110
0.0115
0.0120
Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22 Apr-22
JPY/CAD Currency
1.50
1.55
1.60
1.65
1.70
1.75
1.80
Apr-21 Jun-21 Aug-21 Oct-21 Dec-21 Feb-22 Apr-22
GBP/CAD Currency
0
500
1,000
1,500
2,000
2,500
Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20 Apr-21 Apr-22
Spre
ad (b
ps)
16
High-yield bond spreads over the last 10 years
Source: RBC GAM, Bloomberg. Data as of April 30, 2022.
300
325
350
375
400
425
450
475
Feb-22 Mar-22 Apr-22
Last 3 Months
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10-year yields over the last 12 months
% Date
Peak 2.9 April 19, 2022
Trough 1.2 August 3, 2021
% Date
Peak 2.9 April 21, 2022
Trough 1.1 August 3, 2021
Source: RBC GAM, Bloomberg. Data as of April 30, 2022
2.8%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
10 Year U.S Treasury Yield %
2.8%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
10-Year Canadian Government Yield %
May 10, 2022
This has been provided by RBC Global Asset Management Inc. (RBC GAM) and is for informational purposes, as of the date noted only. It is not intended to provide legal, accounting, tax, investment, financial or other advice and such information should not be relied upon for providing such advice. RBC GAM takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the information to be so when provided. Past performance is no guarantee of future results. Interest rates, market conditions, tax rulings and other investment factors are subject to rapid change which may materially impact analysis that is included in this document. You should consult with your advisor before taking any action based upon the information contained in this document. Information obtained from third parties is believed to be reliable but RBC GAM and its affiliates assume no responsibility for any errors or omissions or for any loss or damage suffered. RBC GAM reserves the right at any time and without notice to change, amend or cease publication of the information.
® / ™ Trademark(s) of Royal Bank of Canada. used under licence. © RBC Global Asset Management Inc. 2022
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Disclosure