Sector allocations have shifted materially as the Bank of Canada signals a second cut. Our Q2 model tracks where institutional capital is moving — and why the traditional defensive rotation is misfiring.
| Sector | Weight | YTD Return | 1M Change | P/E | EV/EBITDA | Signal |
|---|---|---|---|---|---|---|
| Energy | 19.4% | +14.2% | +2.1% | 11.8× | 7.4× | Overweight |
| Financials | 33.1% | +8.7% | −0.6% | 12.4× | — | Neutral |
| Materials | 12.8% | +11.3% | +4.4% | 14.2× | 8.1× | Overweight |
| Industrials | 9.2% | +6.1% | +1.2% | 22.6× | 13.7× | Neutral |
| Utilities | 4.6% | −3.4% | −1.8% | 18.9× | 11.2× | Underweight |
| Technology | 8.3% | +17.8% | +3.3% | 31.4× | 18.6× | Overweight |
| Source: TSX, Bloomberg. Data as of May 28, 2025 market close. For informational purposes only. | ||||||