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 | -2.66% | -0.34 | +4pp | +3.06pp | Confirming ↓ |
| 1 month | +2.71% | +0.8 | +2pp | +0.43pp | Confirming ↑ |
| 1 quarter | +12.90% | +0.68 | -8pp | -1.45pp | Confirming ↑ |
Over the last 126 sessions: price up +57.37%, breadth up (+6.37/name) · % beating 39→43 · median−ETF -2.12pp→-1.34pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -3.47% | -3.10% | +0.38pp | 5 / 36 | 23 / 18 | 11 of 41 | ±2.63% |
| 5d | -2.66% | -2.01% | +0.64pp | 15 / 26 | 23 / 18 | 7 of 41 | ±5.81% |
| 21d | +2.72% | +1.34% | -1.38pp | 25 / 16 | 17 / 24 | 5 of 41 | ±8.53% |
| YTD | +45.44% | +42.72% | -2.72pp | 29 / 11 | 18 / 22 | 0 of 40 | ±49.76% |
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)
- HO.FP+1.77%+0.02pp
- INFY+0.70%+0.01pp
- ACN+0.66%+0.01pp
- LDOS+0.74%+0.01pp
- OTEX.TO+0.17%+0pp
- PANW-5.54%-0.57pp
- CRWD-4.56%-0.48pp
- FTNT-3.52%-0.33pp
- AKAM-8.23%-0.29pp
- NET-6.72%-0.29pp
This month (21d)
- FTNT+6.78%+0.64pp
- DDOG+16.96%+0.5pp
- NTAP+16.99%+0.42pp
- ZS+13.87%+0.34pp
- OKTA+11.27%+0.33pp
- GEN-23.79%-0.53pp
- AKAM-12.99%-0.46pp
- IBM-8.25%-0.14pp
- BAH-10.23%-0.14pp
- HO.FP-6.34%-0.08pp
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)
- NTAP+16.99%
- DDOG+16.96%
- DT+15.91%
- ZS+13.87%
- OKTA+11.27%
- GEN-23.79%
- ATO.FP-14.33%
- AKAM-12.99%
- BAH-10.23%
- IBM-8.25%
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% | 249.29 | -4.56% | -6.08% | +2.80% | +112.72% | 59 |
| PANW Palo Alto Networks | 10.24% | 375.04 | -5.54% | -7.53% | -0.01% | +103.60% | 37 |
| FTNT Fortinet Inc | 9.41% | 184.05 | -3.52% | -2.76% | +6.78% | +131.77% | 73 |
| CSCO Cisco Systems Inc | 8.93% | 113.64 | -1.24% | -3.19% | +3.24% | +49.12% | 63 |
| AVGO Broadcom Ltd | 7.16% | 346.25 | -3.10% | -8.04% | +2.24% | +0.25% | 54 |
| NET Cloudflare Inc Cl A | 4.26% | 324.33 | -6.72% | -5.43% | -0.89% | +64.51% | 32 |
| AKAM Akamai Technologies | 3.54% | 91.71 | -8.23% | -12.33% | -12.99% | +5.11% | 5 |
| FFIV F5 Inc | 3.03% | 457.26 | -3.99% | -2.01% | +6.12% | +79.13% | 68 |
| DDOG Datadog Inc Cl A | 2.97% | 269.33 | -4.94% | -0.74% | +16.96% | +98.05% | 95 |
| OKTA Okta Inc Cl A | 2.94% | 211.92 | -6.45% | -2.79% | +11.27% | +145.07% | 88 |
| NTAP Netapp Inc | 2.46% | 222.20 | -7.03% | -5.54% | +16.99% | +109.57% | 98 |
| ZS Zscaler Inc | 2.44% | 220.79 | -3.44% | +3.39% | +13.87% | -1.84% | 90 |
| GEN Gen Digital Inc | 2.23% | 23.80 | -0.04% | +6.30% | -23.79% | -11.53% | 0 |
| CHKP Check Point Software | 2.11% | 134.08 | -0.67% | +2.89% | -2.69% | -27.74% | 27 |
| RBRK Rubrik Inc Cl A | 1.90% | 113.90 | -3.86% | -7.94% | +10.00% | +48.93% | 83 |
| FROG Jfrog Ltd | 1.81% | 91.96 | -7.37% | -6.31% | -3.00% | +47.23% | 22 |
| IBM Intl Business Machines | 1.71% | 227.88 | -1.26% | +3.34% | -8.25% | -22.63% | 10 |
| ANET Arista Networks Inc | 1.70% | 195.42 | -4.45% | -9.46% | +1.34% | +49.14% | 49 |
| DT Dynatrace Inc | 1.64% | 63.95 | -0.81% | +6.92% | +15.91% | +47.55% | 93 |
| GOOGL Alphabet Cl A | 1.63% | 347.64 | -1.74% | -0.82% | +0.77% | +11.15% | 44 |
| MSFT Microsoft Corp | 1.49% | 533.69 | -1.80% | +0.74% | +7.36% | +10.61% | 76 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 71.87 | -0.61% | +4.63% | -10.23% | -14.16% | 7 |
| HO.FP Thales | 1.21% | 224.70 | +1.77% | +3.84% | -6.34% | -2.22% | 15 |
| INFY Infosys Ltd ADR | 1.19% | 11.48 | +0.70% | +8.82% | +1.41% | -34.19% | 51 |
| ACN Accenture Plc | 1.17% | 214.96 | +0.66% | +10.19% | +11.15% | -18.73% | 85 |
| BB Blackberry Ltd | 1.10% | 8.23 | -2.83% | -6.16% | +5.51% | +117.15% | 66 |
| LDOS Leidos Holdings Inc | 0.97% | 120.59 | +0.74% | +6.20% | -6.69% | -32.99% | 12 |
| ESTC Elastic N.V. | 0.94% | 92.06 | -2.40% | -1.12% | +8.10% | +22.03% | 80 |
| OTEX.TO Open Text Corporation | 0.93% | 35.55 | +0.17% | +10.06% | +6.72% | -18.67% | 71 |
| S Sentinelone Inc Cl A | 0.88% | 22.82 | -4.96% | -9.84% | -2.81% | +52.13% | 24 |
| SAIC Science Applications International | 0.81% | 131.57 | -1.31% | +8.08% | -1.62% | +31.65% | 29 |
| CVLT Commvault Systems | 0.77% | 154.33 | -2.85% | +2.69% | +7.70% | +23.11% | 78 |
| VRNS Varonis Systems Inc | 0.60% | 47.06 | -3.41% | -3.88% | -0.86% | +43.48% | 34 |
| QLYS Qualys Inc | 0.57% | 189.63 | -4.28% | -2.63% | +2.30% | +42.69% | 56 |
| TENB Tenable Holdings Inc | 0.50% | 38.12 | -7.68% | -2.11% | +0.08% | +62.01% | 39 |
| FSLY Fastly Inc | 0.47% | 25.00 | -7.72% | -1.11% | +2.88% | — | 61 |
| NTCT Netscout Systems | 0.43% | 38.63 | -3.79% | -3.59% | +0.68% | +42.76% | 41 |
| ATEN A10 Networks Inc | 0.30% | 27.05 | -5.05% | -5.12% | +1.12% | +53.69% | 46 |
| ZD Ziff Davis Inc | 0.26% | 57.42 | -0.79% | +4.59% | -3.02% | +63.36% | 20 |
| RDWR Radware Ltd | 0.19% | 28.72 | -2.18% | -4.65% | -3.53% | +19.22% | 17 |
| ATO.FP Atos Se | 0.16% | 21.64 | -1.64% | -1.10% | -14.33% | -56.87% | 2 |
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 2026-10-14: over 21 sessions the fund returned +2.72% while its median constituent returned +1.34% — a dispersion of 8.53 pp; 41% of 41 members beat the fund. Broad advance - breadth is rising with price.
How did CIBR's members trade in the last session?
As of 2026-10-14: fund -3.47%, median member -3.10%, 5 advancers vs 36 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.