(QXM) First Asset Morningstar - Ratings and Ratios

The First Asset Morningstar National Bank Quebec Common Class (Ticker: QXM) is a Canadian exchange-traded fund (ETF) listed on the Toronto Stock Exchange (TO). It is designed to track the performance of the Morningstar Canada GR CAD Index, which focuses on Canadian equities. The ETF provides exposure to a diversified portfolio of Canadian stocks, offering investors a way to gain broad market exposure in the Canadian equity market.

From a technical perspective, QXM has shown moderate trading activity, with an average 20-day volume of 1,015 shares. The ETF is currently trading at $29.98, slightly below its short-term moving averages. The 20-day SMA is $30.62, while the 50-day SMA stands at $30.96. The 200-day SMA is $30.07, indicating a slightly upward trend over the longer term. The Average True Range (ATR) of 0.25 reflects relatively tight price fluctuations, suggesting low volatility in recent trading sessions.

In terms of fundamental analysis, the ETF has assets under management (AUM) of $75.62 million CAD, placing it in the moderate-sized category for Canadian equity ETFs. This level of AUM suggests a balance between liquidity and diversification, making it accessible for both retail and institutional investors.

Looking ahead, the next three months are expected to see QXM track closely to the broader Canadian equity market. Based on the current technical setup, the ETF may face resistance at the $30.96 level (SMA 50) and support at $30.07 (SMA 200). The low ATR of 0.25 suggests that price movements will likely remain confined within a narrow range, with minimal volatility expected. From a fundamental perspective, the performance of the Canadian economy, driven by key sectors such as financials, energy, and materials, will be a key driver of the ETFs performance during this period.