Constituent dispersion · breadth vs the index
CIBR — First Trust Nasdaq Cybersecurity
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 | -11.34% | -1.9 | -6pp | -1.68pp | Confirming ↓ |
| 1 month | -8.29% | +0.34 | +9pp | +5.02pp | Improving |
| 1 quarter | -0.36% | +0.07 | -3pp | +0.02pp | Improving |
Over the last 126 sessions: price up +38.55%, breadth up (+4.63/name) · % beating 48→53 · median−ETF -0.20pp→+1.81pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.49% | +0.82% | +0.34pp | 26 / 15 | 23 / 18 | 12 of 41 | ±3.24% |
| 5d | -11.34% | -8.71% | +2.63pp | 6 / 35 | 25 / 16 | 2 of 41 | ±10.12% |
| 21d | -8.29% | -5.03% | +3.26pp | 17 / 24 | 22 / 19 | 4 of 41 | ±16.58% |
| YTD | +36.30% | +32.42% | -3.88pp | 30 / 10 | 19 / 21 | 0 of 40 | ±41.43% |
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)
- AVGO+3.07%+0.22pp
- FTNT+1.51%+0.14pp
- NET+3.19%+0.14pp
- CRWD+1.19%+0.13pp
- CSCO+1.34%+0.12pp
- DT-14.69%-0.24pp
- LDOS-6.55%-0.06pp
- PANW-0.43%-0.04pp
- INFY-2.65%-0.03pp
- ACN-2.45%-0.03pp
This month (21d)
- GEN+33.35%+0.74pp
- ACN+31.56%+0.37pp
- BAH+26.83%+0.36pp
- ZS+11.54%+0.28pp
- IBM+12.84%+0.22pp
- FTNT-30.42%-2.86pp
- PANW-13.91%-1.42pp
- CRWD-10.27%-1.08pp
- NET-23.89%-1.02pp
- FFIV-27.78%-0.84pp
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)
- GEN+33.35%
- ACN+31.56%
- BAH+26.83%
- TENB+22.12%
- ATO.FP+20.33%
- FTNT-30.42%
- FFIV-27.78%
- NET-23.89%
- DT-21.89%
- DDOG-20.22%
CIBR — constituent leadership race
$100 in each covered CIBR constituent at 2025-12-30, 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 — 41 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CRWD Crowdstrike Holdings | 10.55% | 244.68 | +1.19% | -8.71% | -10.27% | +108.79% | 32 |
| PANW Palo Alto Networks | 10.24% | 350.20 | -0.43% | -12.82% | -13.91% | +90.12% | 24 |
| FTNT Fortinet Inc | 9.41% | 128.11 | +1.51% | -30.75% | -30.42% | +61.33% | 0 |
| CSCO Cisco Systems Inc | 8.93% | 102.97 | +1.34% | -7.55% | -8.73% | +35.12% | 41 |
| AVGO Broadcom Ltd | 7.16% | 332.13 | +3.07% | -2.98% | -8.38% | -3.84% | 44 |
| NET Cloudflare Inc Cl A | 4.26% | 273.62 | +3.19% | -16.53% | -23.89% | +38.79% | 5 |
| AKAM Akamai Technologies | 3.54% | 86.53 | -0.18% | -13.11% | -19.87% | -0.83% | 12 |
| FFIV F5 Inc | 3.03% | 331.15 | +2.03% | -27.91% | -27.78% | +29.73% | 2 |
| DDOG Datadog Inc Cl A | 2.97% | 220.52 | +2.05% | -21.47% | -20.22% | +62.16% | 10 |
| OKTA Okta Inc Cl A | 2.94% | 189.68 | +2.60% | -16.10% | -13.11% | +119.36% | 29 |
| NTAP Netapp Inc | 2.46% | 190.78 | +2.98% | -16.17% | -14.55% | +79.94% | 22 |
| ZS Zscaler Inc | 2.44% | 225.09 | +0.58% | -13.48% | +11.54% | +0.08% | 76 |
| GEN Gen Digital Inc | 2.23% | 29.71 | -0.60% | +22.52% | +33.35% | +10.44% | 98 |
| CHKP Check Point Software | 2.11% | 142.28 | +0.55% | -10.99% | +9.80% | -23.32% | 71 |
| RBRK Rubrik Inc Cl A | 1.90% | 116.51 | +1.60% | -14.17% | -5.03% | +52.34% | 49 |
| FROG Jfrog Ltd | 1.81% | 88.49 | +3.97% | -11.92% | -9.57% | +41.67% | 37 |
| IBM Intl Business Machines | 1.71% | 250.04 | -0.98% | -0.08% | +12.84% | -15.11% | 80 |
| ANET Arista Networks Inc | 1.70% | 169.91 | +3.52% | -9.14% | -17.88% | +29.67% | 20 |
| DT Dynatrace Inc | 1.64% | 47.03 | -14.69% | -26.23% | -21.89% | +8.51% | 7 |
| GOOGL Alphabet Cl A | 1.63% | 280.03 | +0.37% | -12.65% | -19.18% | -10.47% | 15 |
| MSFT Microsoft Corp | 1.49% | 520.99 | +2.74% | -1.95% | -0.80% | +7.97% | 56 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 87.02 | -1.14% | +4.34% | +26.83% | +3.94% | 93 |
| HO.FP Thales | 1.21% | 233.00 | +0.43% | -0.51% | +2.73% | +1.39% | 61 |
| INFY Infosys Ltd ADR | 1.19% | 11.93 | -2.65% | +0.72% | +10.87% | -31.61% | 73 |
| ACN Accenture Plc | 1.17% | 254.56 | -2.45% | +8.25% | +31.56% | -3.76% | 95 |
| BB Blackberry Ltd | 1.10% | 8.19 | +2.12% | -14.24% | -9.80% | +116.09% | 34 |
| LDOS Leidos Holdings Inc | 0.97% | 134.72 | -6.55% | -3.52% | +12.78% | -25.14% | 78 |
| ESTC Elastic N.V. | 0.94% | 90.47 | -0.95% | -14.26% | -4.68% | +19.92% | 51 |
| OTEX.TO Open Text Corporation | 0.93% | 36.05 | -2.93% | -5.65% | +13.76% | -17.52% | 83 |
| S Sentinelone Inc Cl A | 0.88% | 23.11 | -0.22% | -9.90% | -9.12% | +54.07% | 39 |
| SAIC Science Applications International | 0.81% | 151.59 | -0.86% | +1.38% | +19.80% | +51.68% | 85 |
| CVLT Commvault Systems | 0.77% | 160.99 | +2.00% | -6.70% | +4.72% | +28.42% | 63 |
| VRNS Varonis Systems Inc | 0.60% | 48.96 | +0.43% | -0.31% | +1.68% | +49.27% | 59 |
| QLYS Qualys Inc | 0.57% | 210.57 | +1.43% | -7.60% | +5.98% | +58.44% | 66 |
| TENB Tenable Holdings Inc | 0.50% | 47.03 | -0.89% | -3.33% | +22.12% | +99.87% | 90 |
| FSLY Fastly Inc | 0.47% | 21.07 | +2.28% | -23.02% | -18.99% | — | 17 |
| NTCT Netscout Systems | 0.43% | 37.93 | +0.82% | -6.35% | -7.94% | +40.17% | 46 |
| ATEN A10 Networks Inc | 0.30% | 24.30 | +3.32% | -9.67% | -13.80% | +38.07% | 27 |
| ZD Ziff Davis Inc | 0.26% | 53.99 | +1.58% | -5.33% | -3.55% | +53.60% | 54 |
| RDWR Radware Ltd | 0.19% | 33.60 | +2.94% | -5.35% | +9.52% | +39.48% | 68 |
| ATO.FP Atos Se | 0.16% | 26.52 | -3.42% | +5.49% | +20.33% | -47.14% | 88 |
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
CIBR dispersion — data Q&A
Is CIBR's move broad or carried by a few names (21 sessions)?
As of 2026-11-04: over 21 sessions the fund returned -8.29% while its median constituent returned -5.03% — a dispersion of 16.58 pp; 54% of 41 members beat the fund. Improving below the surface - the A/D line is rising while price is flat-to-down; more names participating than the headline shows.
How did CIBR's members trade in the last session?
As of 2026-11-04: fund +0.49%, median member +0.82%, 26 advancers vs 15 decliners.
What does the dispersion page for CIBR 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. 41 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.