Constituent dispersion · breadth vs the index
AW40 — Agentic Winners 40 (EW)
Divergence over time — price vs breadth, by horizon
The hero read is the 1-month picture; here the same price↔breadth divergence across 1 week / 1 month / 1 quarter, computed over the 126-session history. A/D /name is net advancers-minus-decliners per covered constituent; % beating Δ and median−ETF Δ show how participation shifted. Price rising while those fall = the move is narrowing under the surface.
| Horizon | Price | A/D /name | % beating Δ | Median−ETF Δ | Read |
|---|---|---|---|---|---|
| 1 week | +0.18% | -0.11 | -4pp | +1.54pp | Weakening |
| 1 month | +12.03% | +0.32 | -18pp | -6.29pp | Confirming ↑ |
| 1 quarter | +22.74% | +1.63 | -14pp | -4.65pp | Confirming ↑ |
Over the last 126 sessions: price up +26.11%, breadth up (+2.32/name) · % beating 63→35 · median−ETF +2.22pp→-5.60pp.
Stocks above their moving average — participation breadth
Of the 38 covered constituents, the share trading above each simple moving average — the classic breadth gauge. A firm index price with a low %-above-MA is a narrow, top-heavy tape. As of 2026-09-03.
New highs & new lows — by horizon
How many of the 38 covered constituents closed today at a new high (or low) over each window, and the net. A shrinking net as the index holds up = fewer names leading.
| Horizon | New highs | New lows | Net |
|---|---|---|---|
| 5-Day | 10 (26%) | 4 (11%) | +6 |
| 1-Month | 8 (21%) | 0 (0%) | +8 |
| 3-Month | 6 (16%) | 0 (0%) | +6 |
| 6-Month | 4 (11%) | 0 (0%) | +4 |
| 52-Week | 1 (3%) | 0 (0%) | +1 |
| YTD | 1 (3%) | 0 (0%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +2.12% | +1.56% | -0.56pp | 29 / 8 | 16 / 22 | 15 of 38 | ±2.38% |
| 5d | +0.18% | +0.42% | +0.24pp | 21 / 17 | 21 / 17 | 8 of 38 | ±4.69% |
| 21d | +12.03% | +6.07% | -5.96pp | 30 / 8 | 13 / 25 | 1 of 38 | ±18.93% |
| YTD | -2.61% | -4.05% | -1.45pp | 16 / 22 | 17 / 21 | 1 of 38 | ±23.22% |
Median − ETF below zero means the typical name is lagging the cap-weighted index — the move is top-heavy. "Beat" counts constituents outperforming the ETF over the window. Dispersion is the cross-sectional standard deviation of constituent returns — high = a stock-picker's tape, low = pure beta.
What drove the move — contribution = weight × return
Today (1d)
- PLTR+7.71%+0.19pp
- 4180.T+6.70%+0.17pp
- NOW+6.49%+0.16pp
- ORCL+5.69%+0.14pp
- IOT+5.33%+0.13pp
- HUBS-2.23%-0.06pp
- APP-1.71%-0.04pp
- RDDT-1.33%-0.03pp
- MELI-0.77%-0.02pp
- SIEGY-0.73%-0.02pp
This month (21d)
- TEAM+71.80%+1.79pp
- 4478.T+55.37%+1.38pp
- 4180.T+46.64%+1.17pp
- TEM+38.46%+0.96pp
- CRM+37.02%+0.93pp
- APP-24.94%-0.62pp
- 0268.HK-5.98%-0.15pp
- GOOGL-5.50%-0.14pp
- AMZN-5.04%-0.13pp
- SIEGY-4.92%-0.12pp
Each name's contribution = its index weight × its return — the percentage points it added to (green) or subtracted from (red) the ETF's move. Computed across covered names.
Leaders & laggards (21-day)
- TEAM+71.80%
- 4478.T+55.37%
- 4180.T+46.64%
- TEM+38.46%
- CRM+37.02%
- APP-24.94%
- 0268.HK-5.98%
- GOOGL-5.50%
- AMZN-5.04%
- SIEGY-4.92%
AW40 — constituent leadership race
$100 in each covered AW40 constituent at 2026-01-07, rebased to 100. Watch leadership change hands.
Each covered constituent started at $100 at the window open; the bars race by total return (top 12 shown). Decision-support, not investment advice.
Constituents — 38 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MSFT Microsoft | 2.50% | 510.12 | +2.68% | +1.00% | +4.65% | +5.72% | 37 |
| AMZN Amazon | 2.50% | 258.90 | +1.54% | +1.03% | -5.04% | +12.17% | 8 |
| GOOGL Alphabet | 2.50% | 342.48 | +1.59% | +0.54% | -5.50% | +9.50% | 5 |
| META Meta | 2.50% | 610.68 | +3.01% | +6.93% | +3.72% | -7.41% | 32 |
| AAPL Apple | 2.50% | 328.21 | +1.00% | +4.33% | +5.62% | +20.84% | 45 |
| NVDA Nvidia | 2.50% | 228.45 | +1.80% | +0.21% | +4.21% | +22.64% | 34 |
| PLTR Palantir | 2.50% | 182.53 | +7.71% | -1.83% | +15.21% | +2.69% | 66 |
| NOW ServiceNow | 2.50% | 145.59 | +6.49% | +5.17% | +24.20% | -4.96% | 79 |
| CRM Salesforce | 2.50% | 264.43 | +2.92% | +4.91% | +37.02% | +0.07% | 87 |
| WDAY Workday | 2.50% | 206.92 | +3.01% | +6.90% | +21.26% | -3.66% | 74 |
| SAP SAP | 2.50% | 217.03 | +3.50% | -1.87% | +9.98% | -10.65% | 58 |
| ORCL Oracle | 2.50% | 154.04 | +5.69% | +1.38% | +6.68% | -20.48% | 53 |
| PATH UiPath | 2.50% | 18.22 | +1.28% | -0.60% | +31.84% | +11.17% | 82 |
| ADBE Adobe | 2.50% | 285.75 | +2.13% | -1.18% | +10.19% | -18.35% | 61 |
| INTU Intuit | 2.50% | 344.30 | +0.40% | -1.06% | +4.99% | -47.77% | 42 |
| VEEV Veeva | 2.50% | 284.38 | +1.30% | +0.80% | +33.19% | +27.39% | 84 |
| CSGP CoStar | 2.50% | 31.68 | +1.34% | +1.08% | +4.87% | -52.89% | 39 |
| IOT Samsara | 2.50% | 38.75 | +5.33% | -7.45% | +0.05% | +9.31% | 21 |
| TEM Tempus AI | 2.50% | 64.66 | +4.39% | -8.53% | +38.46% | +9.50% | 89 |
| HUBS HubSpot | 2.50% | 245.51 | -2.23% | +3.56% | -1.36% | -38.82% | 18 |
| TEAM Atlassian | 2.50% | 194.68 | +4.42% | +4.88% | +71.80% | +20.07% | 97 |
| PTC PTC | 2.50% | 150.08 | +0.64% | -5.58% | +7.64% | -13.85% | 55 |
| DASTY Dassault Systèmes | 2.50% | 26.12 | +2.15% | -2.94% | +5.71% | -5.44% | 47 |
| SIEGY Siemens | 2.50% | 157.35 | -0.73% | -5.87% | -4.92% | +14.76% | 11 |
| 0268.HK Kingdee | 2.50% | 8.26 | +1.60% | -1.96% | -5.98% | -37.85% | 3 |
| 4478.T freee | 2.50% | 3965.00 | +0.00% | -6.26% | +55.37% | +31.95% | 95 |
| 3994.T Money Forward | 2.50% | 6172.00 | -0.05% | -3.98% | +21.52% | +32.22% | 76 |
| 4180.T Appier | 2.50% | 1418.00 | +6.70% | +9.16% | +46.64% | +32.03% | 92 |
| MNDY monday.com | 2.50% | 97.33 | +3.06% | -2.19% | +6.43% | -34.04% | 50 |
| SHOP Shopify | 2.50% | 145.88 | +2.83% | -5.48% | +1.14% | -9.37% | 26 |
| APP AppLovin | 2.50% | 313.58 | -1.71% | +0.30% | -24.94% | -53.46% | 0 |
| RDDT Reddit | 2.50% | 155.99 | -1.33% | +1.33% | +0.47% | -32.14% | 24 |
| DUOL Duolingo | 2.50% | 158.82 | +0.61% | +11.17% | +17.37% | -9.50% | 71 |
| SPOT Spotify | 2.50% | 560.11 | +0.13% | +6.23% | +16.15% | -3.55% | 68 |
| NFLX Netflix | 2.50% | 82.67 | -0.07% | +3.54% | +11.42% | -11.83% | 63 |
| MELI MercadoLibre | 2.50% | 1991.06 | -0.77% | +3.12% | +3.56% | -1.15% | 29 |
| SE Sea Limited | 2.50% | 113.10 | +0.26% | -4.41% | -1.58% | -11.34% | 16 |
| TOST Toast | 2.50% | 33.93 | -0.32% | -3.53% | -2.50% | -4.45% | 13 |
RS rank = the constituent's 21-day return percentile within the index (100 = strongest of the covered names). Weight is the index weight; returns use adjusted closes. Default sort: weight.
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.
FAQ · from the current data
AW40 dispersion — data Q&A
Is AW40's move broad or carried by a few names (21 sessions)?
As of 2026-09-03: over 21 sessions the fund returned +12.03% while its median constituent returned +6.07% — a dispersion of 18.93 pp; 34% of 38 members beat the fund. Broad advance - breadth is rising with price.
How did AW40's members trade in the last session?
As of 2026-09-03: fund +2.12%, median member +1.56%, 29 advancers vs 8 decliners.
What does the dispersion page for AW40 measure?
It splits the fund into its members: the fund's own return against the median constituent, how many members beat the fund, advancers vs decliners, and a cumulative advance/decline line that tends to lead price. A firm fund price with a weak median and a falling A/D line is a narrow, top-heavy tape; a broad move shows the median keeping up. 38 constituents covered, re-baked nightly from the Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.