— C+

Lab · ETF Dispersion

Breadth inside the ETF.

Most screens show the ETF's price. These show what its members are doing underneath — is the move broad, or carried by a few mega-caps? Median constituent vs the index, advancers vs decliners, how many names beat the ETF, and a cumulative advance/decline line that tends to turn before price. 24 ETFs & index cuts · closes through 2026-06-15.

What changed below the surface · 21-day

Where the constituents' advance/decline is pulling away from the ETF's price — the early read, before the headline reflects it.

Improving — breadth rising under flat/soft price

Weakening — breadth falling under firm price

S&P 500 sectors

XLK 72/72
Technology Select Sector
+3.78% med -1.71pp 58 / 14
XLF 75/76
Financial Select Sector
+0.41% med -0.58pp 36 / 39
XLV 59/59
Health Care Select Sector
-0.60% med +0.29pp 25 / 34
XLE 21/21
Energy Select Sector
-3.48% med -0.17pp 0 / 21
XLI 80/80
Industrial Select Sector
+1.42% med -0.58pp 51 / 29
XLP 36/36
Consumer Staples Select Sector
-0.40% med -0.18pp 11 / 25
XLY 48/48
Consumer Discretionary Select Sector
+1.69% med -1.56pp 25 / 23
XLU 31/31
Utilities Select Sector
+0.47% med -0.22pp 20 / 10
XLB 26/26
Materials Select Sector
+0.61% med +0.00pp 17 / 9
XLRE 31/31
Real Estate Select Sector
-0.82% med -0.45pp 3 / 28
XLC 23/23
Communication Services Select Sector
+0.48% med -0.54pp 10 / 13

Nasdaq-100 cuts

QTEC 45/45
First Trust Nasdaq-100 Technology
+4.59% med -1.90pp 41 / 4
QQXT 56/56
First Trust Nasdaq-100 Ex-Technology
+0.20% med -0.30pp 26 / 30
QQEW 49/49
First Trust Nasdaq-100 Equal Weight
+2.80% med -1.15pp 40 / 9
QTOP 31/31
iShares Nasdaq-100 Top 30
+3.12% med -0.62pp 24 / 7

Tech & thematics

IGV 58/110
iShares Expanded Tech-Software
+2.18% med -1.10pp 42 / 16
SMH 25/25
VanEck Semiconductor
+4.38% med -0.32pp 25 / 0
XSD 23/43
SPDR S&P Semiconductor (EW)
+5.15% med -1.61pp 23 / 0
AIQ 55/66
Global X AI & Technology
+3.98% med -2.22pp 42 / 13
CIBR 29/41
First Trust Nasdaq Cybersecurity
+1.10% med -0.02pp 20 / 8
DTCR 16/20
Global X Data Center & Digital Infra
+2.24% med +0.24pp 13 / 3
WTAI 43/48
WisdomTree AI & Innovation
+3.69% med -0.58pp 36 / 6
QTUM 53/63
Defiance Quantum
+4.04% med -0.87pp 45 / 8
ARKK 28/42
ARK Innovation
+5.26% med -1.46pp 24 / 4

Computed across the constituents we cover in our data lake (coverage shown per card). A/D line = cumulative daily advancers minus decliners. Decision-support, not investment advice.