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 | +1.51% | -0.02 | +0pp | -5.15pp | Weakening |
| 1 month | +11.61% | -0.02 | -10pp | -5.66pp | Weakening |
| 1 quarter | +23.34% | +2.37 | -10pp | -6.13pp | Confirming ↑ |
Over the last 126 sessions: price up +63.43%, breadth up (+7.68/name) · % beating 56→39 · median−ETF +1.71pp→-6.37pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.79% | -0.86% | -0.07pp | 12 / 28 | 19 / 22 | 17 of 41 | ±2.95% |
| 5d | +1.51% | +0.23% | -1.27pp | 24 / 17 | 17 / 24 | 2 of 41 | ±6.21% |
| 21d | +11.61% | +5.23% | -6.37pp | 29 / 12 | 16 / 25 | 1 of 41 | ±14.87% |
| YTD | +44.67% | +36.52% | -8.15pp | 30 / 10 | 18 / 22 | 1 of 40 | ±50.13% |
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)
- NET+1.84%+0.08pp
- DDOG+2.16%+0.06pp
- BB+4.18%+0.05pp
- CSCO+0.51%+0.05pp
- FROG+2.03%+0.04pp
- GEN-12.05%-0.27pp
- AKAM-6.78%-0.24pp
- CRWD-1.07%-0.11pp
- AVGO-1.30%-0.09pp
- PANW-0.86%-0.09pp
This month (21d)
- CRWD+40.07%+4.23pp
- OKTA+58.21%+1.71pp
- FTNT+16.28%+1.53pp
- PANW+14.72%+1.51pp
- NET+29.27%+1.25pp
- GEN-21.29%-0.47pp
- CSCO-3.73%-0.33pp
- INFY-12.72%-0.15pp
- AVGO-1.79%-0.13pp
- HO.FP-7.05%-0.09pp
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)
- OKTA+58.21%
- CRWD+40.07%
- NET+29.27%
- ZS+27.44%
- RBRK+22.83%
- GEN-21.29%
- ATO.FP-19.89%
- INFY-12.72%
- LDOS-8.32%
- HO.FP-7.05%
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% | 259.67 | -1.07% | +5.69% | +40.07% | +121.58% | 95 |
| PANW Palo Alto Networks | 10.24% | 389.92 | -0.86% | +3.96% | +14.72% | +111.68% | 68 |
| FTNT Fortinet Inc | 9.41% | 178.67 | -0.04% | +3.53% | +16.28% | +125.00% | 76 |
| CSCO Cisco Systems Inc | 8.93% | 106.97 | +0.51% | -2.97% | -3.73% | +40.37% | 17 |
| AVGO Broadcom Ltd | 7.16% | 350.36 | -1.30% | +1.06% | -1.79% | +1.44% | 22 |
| NET Cloudflare Inc Cl A | 4.26% | 358.82 | +1.84% | +7.45% | +29.27% | +82.00% | 93 |
| AKAM Akamai Technologies | 3.54% | 110.41 | -6.78% | +3.11% | +4.42% | +26.54% | 44 |
| FFIV F5 Inc | 3.03% | 446.55 | -2.07% | +2.74% | +16.67% | +74.94% | 78 |
| DDOG Datadog Inc Cl A | 2.97% | 256.92 | +2.16% | +8.86% | +15.22% | +88.93% | 71 |
| OKTA Okta Inc Cl A | 2.94% | 206.64 | +0.62% | +8.75% | +58.21% | +138.97% | 98 |
| NTAP Netapp Inc | 2.46% | 197.24 | +0.46% | +0.16% | +5.23% | +86.03% | 49 |
| ZS Zscaler Inc | 2.44% | 214.64 | +0.09% | +8.69% | +27.44% | -4.57% | 90 |
| GEN Gen Digital Inc | 2.23% | 23.07 | -12.05% | -23.63% | -21.29% | -14.24% | 0 |
| CHKP Check Point Software | 2.11% | 136.29 | -3.45% | +0.04% | +5.23% | -26.55% | 46 |
| RBRK Rubrik Inc Cl A | 1.90% | 113.80 | -1.53% | +5.54% | +22.83% | +48.80% | 88 |
| FROG Jfrog Ltd | 1.81% | 94.20 | +2.03% | +0.23% | +5.27% | +50.82% | 51 |
| IBM Intl Business Machines | 1.71% | 227.06 | -2.45% | -4.50% | -3.04% | -22.91% | 20 |
| ANET Arista Networks Inc | 1.70% | 205.70 | +1.10% | +3.09% | +7.73% | +56.99% | 56 |
| DT Dynatrace Inc | 1.64% | 58.68 | +0.29% | +5.10% | +17.20% | +35.39% | 80 |
| GOOGL Alphabet Cl A | 1.63% | 342.36 | +1.34% | -1.43% | -1.26% | +9.46% | 24 |
| MSFT Microsoft Corp | 1.49% | 497.93 | -0.53% | +0.04% | +1.26% | +3.19% | 29 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 73.82 | -2.42% | -6.43% | -0.01% | -11.83% | 27 |
| HO.FP Thales | 1.21% | 232.20 | -2.72% | -2.56% | -7.05% | +1.04% | 10 |
| INFY Infosys Ltd ADR | 1.19% | 10.50 | -2.33% | -5.15% | -12.72% | -39.80% | 5 |
| ACN Accenture Plc | 1.17% | 177.41 | -3.33% | -6.77% | -5.09% | -32.93% | 12 |
| BB Blackberry Ltd | 1.10% | 8.73 | +4.18% | +9.95% | +12.07% | +130.34% | 61 |
| LDOS Leidos Holdings Inc | 0.97% | 123.35 | -1.07% | -5.81% | -8.32% | -31.45% | 7 |
| ESTC Elastic N.V. | 0.94% | 91.28 | +0.00% | +2.60% | +13.53% | +21.00% | 63 |
| OTEX.TO Open Text Corporation | 0.93% | 32.03 | -1.57% | -2.73% | -3.81% | -26.72% | 15 |
| S Sentinelone Inc Cl A | 0.88% | 23.98 | -0.50% | +3.41% | +18.07% | +59.87% | 85 |
| SAIC Science Applications International | 0.81% | 132.43 | -0.40% | -0.91% | +4.05% | +32.51% | 41 |
| CVLT Commvault Systems | 0.77% | 150.00 | +0.38% | +0.81% | +14.36% | +19.66% | 66 |
| VRNS Varonis Systems Inc | 0.60% | 47.95 | -0.83% | +0.29% | +17.47% | +46.19% | 83 |
| QLYS Qualys Inc | 0.57% | 182.94 | -1.00% | +2.73% | +3.98% | +37.65% | 39 |
| TENB Tenable Holdings Inc | 0.50% | 35.88 | -0.97% | -0.50% | +9.42% | +52.49% | 59 |
| FSLY Fastly Inc | 0.47% | 26.68 | -10.02% | +8.59% | +16.00% | — | 73 |
| NTCT Netscout Systems | 0.43% | 39.25 | -0.08% | -0.05% | +3.13% | +45.05% | 34 |
| ATEN A10 Networks Inc | 0.30% | 25.99 | -2.84% | -3.56% | +3.42% | +47.67% | 37 |
| ZD Ziff Davis Inc | 0.26% | 56.47 | -0.49% | -4.50% | +1.91% | +60.65% | 32 |
| RDWR Radware Ltd | 0.19% | 29.79 | -2.14% | -2.49% | +6.97% | +23.66% | 54 |
| ATO.FP Atos Se | 0.16% | 22.72 | -3.97% | -11.18% | -19.89% | -54.71% | 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 2026-09-24: over 21 sessions the fund returned +11.61% while its median constituent returned +5.23% — a dispersion of 14.87 pp; 39% of 41 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did CIBR's members trade in the last session?
As of 2026-09-24: fund -0.79%, median member -0.86%, 12 advancers vs 28 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.