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 | -3.89% | -0.61 | — | — | Confirming ↓ |
| 1 month | -1.42% | -0.29 | — | — | Confirming ↓ |
| 1 quarter | +3.36% | -2.21 | — | — | Weakening |
Over the last 126 sessions: price up +20.75%, breadth down (-0.03/name) · % beating 47→49 · median−ETF -0.98pp→-1.64pp.
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 2026-11-04.
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 | 6 (16%) | 15 (39%) | -9 |
| 1-Month | 4 (11%) | 5 (13%) | -1 |
| 3-Month | 3 (8%) | 0 (0%) | +3 |
| 6-Month | 3 (8%) | 0 (0%) | +3 |
| 52-Week | 2 (6%) | 0 (0%) | +2 |
| YTD | 3 (8%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.04% | -0.50% | -0.46pp | 17 / 21 | 17 / 21 | 7 of 38 | ±3.03% |
| 5d | -3.89% | -2.80% | +1.10pp | 11 / 27 | 22 / 16 | 4 of 38 | ±8.6% |
| 21d | -1.42% | -0.55% | +0.87pp | 15 / 22 | 20 / 18 | 1 of 38 | ±13.93% |
| YTD | -8.32% | -6.84% | +1.48pp | 15 / 23 | 20 / 18 | 1 of 38 | ±29.62% |
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)
- APP+7.28%+0.18pp
- ORCL+5.85%+0.15pp
- RDDT+5.69%+0.14pp
- NOW+2.97%+0.07pp
- MSFT+2.74%+0.07pp
- SHOP-8.74%-0.22pp
- DUOL-5.37%-0.13pp
- 0268.HK-3.50%-0.09pp
- HUBS-3.14%-0.08pp
- DASTY-2.38%-0.06pp
This month (21d)
- 4478.T+30.66%+0.77pp
- SPOT+24.23%+0.61pp
- INTU+21.66%+0.54pp
- 3994.T+16.67%+0.42pp
- DASTY+16.02%+0.4pp
- RDDT-36.08%-0.9pp
- SE-20.73%-0.52pp
- NOW-19.78%-0.49pp
- GOOGL-19.18%-0.48pp
- META-16.29%-0.41pp
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)
- 4478.T+30.66%
- SPOT+24.23%
- INTU+21.66%
- 3994.T+16.67%
- DASTY+16.02%
- RDDT-36.08%
- SE-20.73%
- NOW-19.78%
- GOOGL-19.18%
- META-16.29%
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% | 520.99 | +2.74% | -1.95% | -0.80% | +7.97% | 47 |
| AMZN Amazon | 2.50% | 250.69 | +2.06% | -0.95% | -0.28% | +8.61% | 53 |
| GOOGL Alphabet | 2.50% | 280.03 | +0.37% | -12.65% | -19.18% | -10.47% | 8 |
| META Meta | 2.50% | 621.03 | +2.36% | +0.14% | -16.29% | -5.84% | 11 |
| AAPL Apple | 2.50% | 331.90 | -1.90% | -4.38% | -0.30% | +22.20% | 50 |
| NVDA Nvidia | 2.50% | 206.69 | +2.29% | -5.16% | -13.48% | +10.96% | 13 |
| PLTR Palantir | 2.50% | 175.40 | -1.65% | -11.74% | -7.39% | -1.32% | 29 |
| NOW ServiceNow | 2.50% | 109.16 | +2.97% | -29.47% | -19.78% | -28.74% | 5 |
| CRM Salesforce | 2.50% | 222.20 | -1.76% | -7.76% | -3.30% | -15.91% | 37 |
| WDAY Workday | 2.50% | 197.94 | -0.10% | -3.66% | +4.75% | -7.84% | 68 |
| SAP SAP | 2.50% | 230.31 | -1.42% | -2.33% | +10.86% | -5.19% | 74 |
| ORCL Oracle | 2.50% | 126.19 | +5.85% | -3.32% | -11.11% | -34.86% | 21 |
| PATH UiPath | 2.50% | 13.13 | -1.57% | -6.61% | -0.23% | -19.89% | 55 |
| ADBE Adobe | 2.50% | 246.14 | -2.12% | -0.89% | +3.08% | -29.67% | 66 |
| INTU Intuit | 2.50% | 344.72 | -2.10% | +4.95% | +21.66% | -47.70% | 92 |
| VEEV Veeva | 2.50% | 303.21 | -1.23% | -3.27% | +6.97% | +35.83% | 71 |
| CSGP CoStar | 2.50% | 31.32 | -1.57% | -2.16% | +13.23% | -53.42% | 84 |
| IOT Samsara | 2.50% | 41.11 | -1.89% | -5.52% | -3.02% | +15.97% | 39 |
| TEM Tempus AI | 2.50% | 77.80 | -0.87% | +7.83% | -6.88% | +31.75% | 32 |
| HUBS HubSpot | 2.50% | 226.17 | -3.14% | -9.82% | +2.52% | -43.64% | 63 |
| TEAM Atlassian | 2.50% | 191.05 | +2.12% | -12.93% | -2.85% | +17.83% | 45 |
| PTC PTC | 2.50% | 194.06 | -0.13% | -0.29% | +0.94% | +11.39% | 61 |
| DASTY Dassault Systèmes | 2.50% | 27.95 | -2.38% | +1.42% | +16.02% | +1.19% | 87 |
| SIEGY Siemens | 2.50% | 150.16 | +0.13% | +1.27% | -2.95% | +9.51% | 42 |
| 0268.HK Kingdee | 2.50% | 8.27 | -3.50% | -10.31% | +13.22% | -37.81% | 79 |
| 4478.T freee | 2.50% | 4645.00 | +0.98% | +11.39% | +30.66% | +54.58% | 97 |
| 3994.T Money Forward | 2.50% | 7000.00 | +2.12% | +4.96% | +16.67% | +49.96% | 89 |
| 4180.T Appier | 2.50% | 1414.00 | -2.21% | -1.81% | +0.00% | +31.66% | 58 |
| MNDY monday.com | 2.50% | 93.59 | -1.75% | -6.05% | +13.22% | -36.57% | 82 |
| SHOP Shopify | 2.50% | 142.57 | -8.74% | -14.02% | -10.95% | -11.43% | 24 |
| APP AppLovin | 2.50% | 245.51 | +7.28% | -6.59% | -12.93% | -63.56% | 18 |
| RDDT Reddit | 2.50% | 96.15 | +5.69% | -29.54% | -36.08% | -58.17% | 0 |
| DUOL Duolingo | 2.50% | 128.00 | -5.37% | -9.42% | -12.98% | -27.07% | 16 |
| SPOT Spotify | 2.50% | 600.09 | +1.02% | +8.04% | +24.23% | +3.34% | 95 |
| NFLX Netflix | 2.50% | 63.42 | +1.73% | +1.44% | -6.04% | -32.36% | 34 |
| MELI MercadoLibre | 2.50% | 1662.16 | -0.87% | -1.09% | -10.67% | -17.48% | 26 |
| SE Sea Limited | 2.50% | 76.77 | +1.71% | +2.73% | -20.73% | -39.82% | 3 |
| TOST Toast | 2.50% | 33.53 | +0.33% | +5.54% | +11.62% | -5.58% | 76 |
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 2026-11-04: over 21 sessions the fund returned -1.42% while its median constituent returned -0.55% — a dispersion of 13.93 pp; 53% of 38 members beat the fund. Broad decline - breadth is falling with price.
How did AW40's members trade in the last session?
As of 2026-11-04: fund -0.04%, median member -0.50%, 17 advancers vs 21 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.