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 | -4.03% | -1.37 | +0pp | +0.57pp | Confirming ↓ |
| 1 month | -1.87% | -1.56 | -2pp | -1.11pp | Confirming ↓ |
| 1 quarter | +9.10% | +0.24 | +14pp | +7.18pp | Confirming ↑ |
Over the last 126 sessions: price up +42.97%, breadth up (+6.56/name) · % beating 56→49 · median−ETF +2.19pp→-0.07pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.77% | -0.75% | +0.02pp | 11 / 29 | 21 / 20 | 25 of 41 | ±1.41% |
| 5d | -4.03% | -2.95% | +1.07pp | 5 / 36 | 24 / 17 | 6 of 41 | ±3.85% |
| 21d | -1.87% | -1.94% | -0.07pp | 17 / 24 | 20 / 21 | 3 of 41 | ±9.4% |
| YTD | +32.62% | +24.65% | -7.96pp | 31 / 9 | 17 / 23 | 1 of 40 | ±38.56% |
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)
- CSCO+0.54%+0.05pp
- PANW+0.40%+0.04pp
- RBRK+1.66%+0.03pp
- ANET+1.22%+0.02pp
- AVGO+0.21%+0.01pp
- ZS-4.50%-0.11pp
- CRWD-0.87%-0.09pp
- NET-1.96%-0.08pp
- FROG-3.32%-0.06pp
- GEN-2.17%-0.05pp
This month (21d)
- OKTA+18.88%+0.55pp
- ESTC+31.25%+0.29pp
- CRWD+2.75%+0.29pp
- RBRK+10.72%+0.2pp
- GEN+9.07%+0.2pp
- AVGO-14.90%-1.07pp
- CSCO-9.66%-0.86pp
- PANW-7.30%-0.75pp
- AKAM-11.24%-0.4pp
- FTNT-2.39%-0.22pp
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)
- ESTC+31.25%
- OKTA+18.88%
- RBRK+10.72%
- CHKP+9.39%
- ZD+9.32%
- ATO.FP-15.50%
- AVGO-14.90%
- BB-12.30%
- HO.FP-11.72%
- AKAM-11.24%
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% | 213.10 | -0.87% | -2.43% | +2.75% | +81.84% | 71 |
| PANW Palo Alto Networks | 10.24% | 333.26 | +0.40% | -10.32% | -7.30% | +80.92% | 22 |
| FTNT Fortinet Inc | 9.41% | 156.29 | -0.04% | -5.85% | -2.39% | +96.81% | 46 |
| CSCO Cisco Systems Inc | 8.93% | 109.20 | +0.54% | -0.66% | -9.66% | +43.29% | 15 |
| AVGO Broadcom Ltd | 7.16% | 357.90 | +0.21% | -2.95% | -14.90% | +3.62% | 2 |
| NET Cloudflare Inc Cl A | 4.26% | 278.92 | -1.96% | -6.98% | -1.94% | +41.48% | 49 |
| AKAM Akamai Technologies | 3.54% | 105.22 | -1.20% | -2.09% | -11.24% | +20.60% | 10 |
| FFIV F5 Inc | 3.03% | 390.47 | -0.43% | -0.96% | -5.47% | +52.97% | 32 |
| DDOG Datadog Inc Cl A | 2.97% | 212.93 | -0.85% | -10.15% | -7.14% | +56.58% | 27 |
| OKTA Okta Inc Cl A | 2.94% | 170.60 | +0.11% | +2.63% | +18.88% | +97.29% | 95 |
| NTAP Netapp Inc | 2.46% | 185.59 | +0.11% | -0.76% | -3.08% | +75.04% | 44 |
| ZS Zscaler Inc | 2.44% | 169.80 | -4.50% | -7.83% | +4.43% | -24.51% | 73 |
| GEN Gen Digital Inc | 2.23% | 30.65 | -2.17% | -1.19% | +9.07% | +13.93% | 83 |
| CHKP Check Point Software | 2.11% | 137.05 | -0.26% | -0.92% | +9.39% | -26.14% | 90 |
| RBRK Rubrik Inc Cl A | 1.90% | 93.67 | +1.66% | +0.67% | +10.72% | +22.48% | 93 |
| FROG Jfrog Ltd | 1.81% | 87.60 | -3.32% | -11.28% | +5.49% | +40.25% | 76 |
| IBM Intl Business Machines | 1.71% | 234.89 | +0.08% | -0.30% | +1.35% | -20.25% | 63 |
| ANET Arista Networks Inc | 1.70% | 193.78 | +1.22% | -0.82% | +0.76% | +47.89% | 59 |
| DT Dynatrace Inc | 1.64% | 51.90 | -1.63% | -3.30% | +6.20% | +19.75% | 78 |
| GOOGL Alphabet Cl A | 1.63% | 338.46 | -1.11% | -2.28% | -5.39% | +8.21% | 34 |
| MSFT Microsoft Corp | 1.49% | 499.70 | -2.04% | -2.69% | -0.03% | +3.56% | 56 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 72.80 | -1.46% | -3.24% | -0.78% | -13.04% | 54 |
| HO.FP Thales | 1.21% | 233.60 | -0.47% | -4.54% | -11.72% | +1.65% | 7 |
| INFY Infosys Ltd ADR | 1.19% | 11.70 | -3.23% | -2.90% | -5.34% | -32.92% | 37 |
| ACN Accenture Plc | 1.17% | 186.72 | -3.31% | -1.52% | +9.12% | -29.41% | 85 |
| BB Blackberry Ltd | 1.10% | 7.70 | +0.00% | -5.64% | -12.30% | +103.17% | 5 |
| LDOS Leidos Holdings Inc | 0.97% | 133.05 | +0.52% | -5.41% | -1.63% | -26.06% | 51 |
| ESTC Elastic N.V. | 0.94% | 91.81 | -4.49% | -8.11% | +31.25% | +21.70% | 98 |
| OTEX.TO Open Text Corporation | 0.93% | 33.12 | -2.20% | -3.91% | -8.05% | -24.23% | 20 |
| S Sentinelone Inc Cl A | 0.88% | 19.88 | +0.40% | -7.71% | -4.24% | +32.53% | 41 |
| SAIC Science Applications International | 0.81% | 126.75 | +0.20% | +0.63% | +1.99% | +26.83% | 66 |
| CVLT Commvault Systems | 0.77% | 136.40 | -0.52% | +0.00% | +2.28% | +8.81% | 68 |
| VRNS Varonis Systems Inc | 0.60% | 46.17 | -0.72% | +5.13% | +8.80% | +40.78% | 80 |
| QLYS Qualys Inc | 0.57% | 171.65 | -1.55% | -8.23% | -5.57% | +29.16% | 29 |
| TENB Tenable Holdings Inc | 0.50% | 34.25 | -0.70% | -9.08% | -5.31% | +45.56% | 39 |
| FSLY Fastly Inc | 0.47% | 20.59 | -2.51% | -10.63% | -9.22% | — | 17 |
| NTCT Netscout Systems | 0.43% | 37.22 | -0.75% | -4.71% | -7.25% | +37.55% | 24 |
| ATEN A10 Networks Inc | 0.30% | 24.59 | -0.49% | -4.32% | -10.91% | +39.72% | 12 |
| ZD Ziff Davis Inc | 0.26% | 55.70 | -1.08% | -0.21% | +9.32% | +58.46% | 88 |
| RDWR Radware Ltd | 0.19% | 28.28 | -0.88% | -1.12% | +1.33% | +17.39% | 61 |
| ATO.FP Atos Se | 0.16% | 26.82 | -1.76% | -7.52% | -15.50% | -46.54% | 0 |
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 2026-09-04: over 21 sessions the fund returned -1.87% while its median constituent returned -1.94% — a dispersion of 9.40 pp; 49% of 41 members beat the fund. Broad decline - breadth is falling with price.
How did CIBR's members trade in the last session?
As of 2026-09-04: fund -0.77%, median member -0.75%, 11 advancers vs 29 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 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.