Saakshi Mehta joined BMO Global Asset Management in October 2025 and currently serves as Vice President, ETF and Alternatives Strategy. Her work focuses on macroeconomic trends and their implications for ETF markets, including analysis of monetary policy, fiscal developments, and market structure across asset classes. Prior to joining BMO GAM, Saakshi was part of the Portfolio Strategy team at Ontario Teachers’ Pension Plan. She holds a Master of Financial Economics from the University of Toronto and a Bachelor of Arts in Economics and Psychology from the University of British Columbia.
Canada’s latest budget marks a major pivot toward long-term growth, with C$115B in infrastructure spending alongside substantial allocations for defense and housing. Alongside those investments, the Feds are encouraging private sector participation via regulatory streamlining and tax incentives.
All prices, returns and portfolio weights are as of market close on March 31, 2026, unless otherwise indicated.
A long position equal-weight in U.S. equity cuts reliance on a small group of names needing to remain perfect. And as AI-related technologies diffuse into other sectors, there’s a strong case for broader earnings growth this year.
With Q4 2025 earnings largely complete and 75% of S&P 500 companies beating expectations, fundamentals remain constructive. That said, market leadership in 2026 looks very different than in 2025. Energy leads at +23% year-to-date (YTD), while Technology is down -3.4%, highlighting a clear rotation away from last year’s growth leaders.
We are still in the early days of the 2025 Q4 earnings season, but the market’s tone has already shifted. January marked a decisive move away from the narrow leadership that defined much of last year and toward broader participation across sectors.