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 | +0.93% | +0.16 | -2pp | -0.61pp | Improving |
| 1 month | -0.14% | -0.61 | +6pp | +1.09pp | Weakening |
| 1 quarter | +18.78% | +0.76 | -10pp | -2.81pp | Confirming ↑ |
Over the last 126 sessions: price up +15.77%, breadth down (-0.66/name) · % beating 47→45 · median−ETF -0.99pp→-1.04pp.
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 2026-10-14.
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 | 5 (13%) | 12 (32%) | -7 |
| 1-Month | 2 (5%) | 1 (3%) | +1 |
| 3-Month | 1 (3%) | 1 (3%) | +0 |
| 6-Month | 1 (3%) | 1 (3%) | +0 |
| 52-Week | 1 (3%) | 1 (3%) | +0 |
| YTD | 1 (3%) | 1 (3%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.11% | -1.28% | -0.17pp | 11 / 27 | 18 / 20 | 16 of 38 | ±2.11% |
| 5d | +0.93% | +1.48% | +0.55pp | 26 / 12 | 21 / 17 | 9 of 38 | ±4.32% |
| 21d | -0.14% | -1.17% | -1.04pp | 17 / 21 | 17 / 21 | 4 of 38 | ±11.86% |
| YTD | -6.11% | -8.96% | -2.86pp | 17 / 21 | 17 / 21 | 0 of 38 | ±26.44% |
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)
- MNDY+3.28%+0.08pp
- INTU+2.98%+0.07pp
- HUBS+2.24%+0.06pp
- ADBE+1.86%+0.05pp
- WDAY+1.48%+0.04pp
- ORCL-7.07%-0.18pp
- RDDT-4.31%-0.11pp
- APP-3.71%-0.09pp
- PLTR-3.69%-0.09pp
- TOST-3.37%-0.08pp
This month (21d)
- PTC+45.87%+1.15pp
- SHOP+32.84%+0.82pp
- PLTR+16.46%+0.41pp
- VEEV+11.53%+0.29pp
- 0268.HK+11.24%+0.28pp
- APP-20.90%-0.52pp
- NFLX-9.41%-0.24pp
- DUOL-9.22%-0.23pp
- PATH-8.22%-0.21pp
- CRM-7.54%-0.19pp
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)
- PTC+45.87%
- SHOP+32.84%
- PLTR+16.46%
- VEEV+11.53%
- 0268.HK+11.24%
- APP-20.90%
- NFLX-9.41%
- DUOL-9.22%
- PATH-8.22%
- CRM-7.54%
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% | 533.69 | -1.80% | +0.74% | +7.36% | +10.61% | 76 |
| AMZN Amazon | 2.50% | 254.08 | -1.74% | -2.25% | +2.28% | +10.08% | 66 |
| GOOGL Alphabet | 2.50% | 347.64 | -1.74% | -0.82% | +0.77% | +11.15% | 58 |
| META Meta | 2.50% | 737.54 | -3.27% | +2.25% | +10.13% | +11.83% | 82 |
| AAPL Apple | 2.50% | 342.96 | +0.50% | +1.87% | +3.51% | +26.27% | 68 |
| NVDA Nvidia | 2.50% | 221.30 | -3.16% | -6.81% | +4.30% | +18.80% | 74 |
| PLTR Palantir | 2.50% | 200.97 | -3.69% | +3.53% | +16.46% | +13.06% | 92 |
| NOW ServiceNow | 2.50% | 139.98 | +0.99% | +1.53% | -1.35% | -8.62% | 47 |
| CRM Salesforce | 2.50% | 235.95 | -0.87% | +5.07% | -7.54% | -10.71% | 11 |
| WDAY Workday | 2.50% | 188.77 | +1.48% | +2.45% | -1.00% | -12.11% | 50 |
| SAP SAP | 2.50% | 220.49 | +0.34% | +4.93% | +2.23% | -9.23% | 63 |
| ORCL Oracle | 2.50% | 133.08 | -7.07% | -6.96% | -5.18% | -31.30% | 34 |
| PATH UiPath | 2.50% | 13.06 | -1.43% | -0.08% | -8.22% | -20.32% | 8 |
| ADBE Adobe | 2.50% | 240.68 | +1.86% | +3.40% | -6.63% | -31.23% | 21 |
| INTU Intuit | 2.50% | 310.44 | +2.98% | +4.93% | -5.72% | -52.90% | 32 |
| VEEV Veeva | 2.50% | 297.35 | -1.42% | +5.26% | +11.53% | +33.20% | 89 |
| CSGP CoStar | 2.50% | 30.11 | +0.37% | +9.09% | -4.59% | -55.22% | 39 |
| IOT Samsara | 2.50% | 40.80 | -1.14% | +0.72% | -2.04% | +15.09% | 42 |
| TEM Tempus AI | 2.50% | 68.32 | +0.15% | -2.89% | -0.77% | +15.70% | 53 |
| HUBS HubSpot | 2.50% | 226.23 | +2.24% | +2.71% | -6.50% | -43.63% | 24 |
| TEAM Atlassian | 2.50% | 204.66 | -1.62% | +4.53% | +7.82% | +26.22% | 79 |
| PTC PTC | 2.50% | 193.64 | -0.16% | +0.02% | +45.87% | +11.15% | 97 |
| DASTY Dassault Systèmes | 2.50% | 25.07 | -0.63% | +3.64% | +3.51% | -9.24% | 71 |
| SIEGY Siemens | 2.50% | 152.64 | -0.65% | +0.34% | +2.18% | +11.32% | 61 |
| 0268.HK Kingdee | 2.50% | 8.37 | -1.88% | +13.42% | +11.24% | -37.06% | 87 |
| 4478.T freee | 2.50% | 3555.00 | -3.13% | +1.43% | -4.69% | +18.30% | 37 |
| 3994.T Money Forward | 2.50% | 6480.00 | -2.14% | +3.02% | +10.22% | +38.82% | 84 |
| 4180.T Appier | 2.50% | 1372.00 | -2.70% | -2.14% | -1.51% | +27.75% | 45 |
| MNDY monday.com | 2.50% | 87.47 | +3.28% | +4.74% | -7.00% | -40.72% | 16 |
| SHOP Shopify | 2.50% | 172.50 | -2.28% | +3.90% | +32.84% | +7.16% | 95 |
| APP AppLovin | 2.50% | 262.19 | -3.71% | -6.79% | -20.90% | -61.09% | 0 |
| RDDT Reddit | 2.50% | 148.60 | -4.31% | -2.69% | -6.91% | -35.35% | 18 |
| DUOL Duolingo | 2.50% | 139.73 | -0.26% | -7.90% | -9.22% | -20.38% | 5 |
| SPOT Spotify | 2.50% | 523.96 | -0.66% | +2.15% | -6.14% | -9.77% | 29 |
| NFLX Netflix | 2.50% | 70.57 | +0.16% | +1.25% | -9.41% | -24.73% | 3 |
| MELI MercadoLibre | 2.50% | 1839.11 | -1.97% | -1.80% | +0.56% | -8.70% | 55 |
| SE Sea Limited | 2.50% | 95.31 | -0.65% | +0.69% | -7.15% | -25.29% | 13 |
| TOST Toast | 2.50% | 29.85 | -3.37% | -2.29% | -6.25% | -15.94% | 26 |
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 2026-10-14: over 21 sessions the fund returned -0.14% while its median constituent returned -1.17% — a dispersion of 11.86 pp; 45% of 38 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did AW40's members trade in the last session?
As of 2026-10-14: fund -1.11%, median member -1.28%, 11 advancers vs 27 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 Closelooknet lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.