Constituent dispersion · breadth vs the index
IGV — iShares Expanded Tech-Software
Concentration 38.16% in top 5 21.93 effective names · HHI 456
RS vs S&P 500 21d -8.71pp sector return − SPY
RS vs Nasdaq-100 21d -6.16pp sector return − QQQ
Broad decline - breadth is falling with price. Last 21 sessions — price -10.66% · A/D -178 (-1.62/name)
IGV price
Cumulative advance / decline of constituents — rises when more names are up than down; turns before price at inflections
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 | +10.39% | +2.25 | -1pp | +1.96pp | Confirming ↑ |
| 1 month | -10.66% | -1.62 | +29pp | +16.58pp | Confirming ↓ |
| 1 quarter | +17.30% | +4.11 | +25pp | +7.52pp | Confirming ↑ |
Over the last 126 sessions: price down -11.47%, breadth down (-0.2/name) · % beating 50→64 · median−ETF +0.03pp→+6.02pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.25% | +1.11% | +0.86pp | 69 / 39 | 66 / 44 | 26 of 110 | ±3.95% |
| 5d | +10.39% | +12.27% | +1.87pp | 95 / 13 | 68 / 41 | 13 of 109 | ±11.26% |
| 21d | -10.66% | -3.86% | +6.80pp | 41 / 68 | 71 / 38 | 2 of 109 | ±14.19% |
| YTD | -11.47% | -17.56% | -6.09pp | 34 / 75 | 46 / 63 | 3 of 109 | ±42.94% |
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)
- PLTR+2.84%+0.2pp
- ADBE+4.14%+0.15pp
- MSTR+7.90%+0.15pp
- MSFT+1.62%+0.13pp
- CRM+1.76%+0.11pp
- APP-6.65%-0.32pp
- ORCL-1.56%-0.14pp
- SNPS-3.82%-0.14pp
- PANW-1.13%-0.08pp
- FTNT-1.72%-0.05pp
This month (21d)
- PANW+17.12%+1.28pp
- TTWO+14.66%+0.23pp
- FTNT+4.96%+0.15pp
- ROP+8.23%+0.11pp
- ACIW+25.55%+0.04pp
- ORCL-42.65%-3.93pp
- PLTR-15.03%-1.08pp
- CRM-17.08%-1.03pp
- MSFT-11.52%-0.94pp
- APP-12.97%-0.63pp
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)
- QLYS+30.59%
- ACIW+25.55%
- TENB+24.92%
- PAR+24.59%
- AGYS+23.48%
- ORCL-42.65%
- CRCL-35.92%
- CLSK-28.21%
- HUT-26.97%
- CORZ-26.23%
IGV — constituent leadership race
$100 in each covered IGV constituent at 2025-12-30, rebased to 100. Watch leadership change hands.
0%
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 — 110 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ORCL Oracle Corp | 9.21% | 140.27 | -1.56% | -8.00% | -42.65% | -27.59% | 0 |
| MSFT Microsoft Corp | 8.19% | 390.49 | +1.62% | +10.67% | -11.52% | -19.07% | 34 |
| PANW Palo Alto Networks | 7.49% | 348.06 | -1.13% | +18.76% | +17.12% | +88.96% | 91 |
| PLTR Palantir Technologies Cl A | 7.18% | 129.30 | +2.84% | +20.54% | -15.03% | -27.26% | 25 |
| CRWD Crowdstrike Holdings | 6.06% | 193.98 | +0.41% | — | — | — | — |
| CRM Salesforce Inc | 6.05% | 166.11 | +1.76% | +10.60% | -17.08% | -37.14% | 17 |
| APP Applovin Corp Cl A | 4.82% | 527.06 | -6.65% | +18.19% | -12.97% | -21.78% | 31 |
| ADBE Adobe Systems Inc | 3.71% | 219.72 | +4.14% | +13.60% | -16.17% | -37.22% | 21 |
| CDNS Cadence Design Sys | 3.62% | 373.14 | -1.22% | +1.33% | -10.39% | +19.37% | 35 |
| NOW Servicenow Inc | 3.61% | 106.32 | +0.49% | +18.77% | -16.71% | -30.60% | 19 |
| SNPS Synopsys Inc | 3.57% | 437.16 | -3.82% | -3.93% | -14.00% | -6.93% | 28 |
| FTNT Fortinet Inc | 3.03% | 156.25 | -1.72% | +4.22% | +4.96% | +96.76% | 76 |
| INTU Intuit Inc | 2.92% | 275.35 | +3.10% | +7.95% | -14.52% | -58.23% | 26 |
| DDOG Datadog Inc Cl A | 2.65% | 260.36 | -1.56% | +17.84% | -3.26% | +91.46% | 52 |
| MSTR Strategy Inc | 1.92% | 100.77 | +7.90% | +18.09% | -25.95% | -33.68% | 5 |
| ADSK Autodesk Inc | 1.89% | 207.48 | +3.86% | +9.36% | -12.33% | -29.91% | 33 |
| EA Electronic Arts Inc | 1.69% | 205.21 | -0.12% | +0.23% | +1.58% | +0.53% | 71 |
| TTWO Take-Two Interactive | 1.54% | 254.99 | +1.87% | +6.82% | +14.66% | -0.41% | 90 |
| ROP Roper Industries | 1.28% | 364.20 | +2.68% | +9.56% | +8.23% | -17.81% | 82 |
| FICO Fair Isaac and Company | 1.08% | 1270.83 | +5.32% | +11.14% | +1.53% | -24.83% | 70 |
| WDAY Workday Inc | 0.96% | 135.40 | +3.94% | +19.01% | -9.05% | -36.96% | 36 |
| ZM Zoom Communications Inc | 0.95% | 87.15 | -3.31% | +5.15% | -22.11% | +0.99% | 9 |
| ZS Zscaler Inc | 0.65% | 147.33 | +0.60% | +19.01% | +2.21% | -34.50% | 74 |
| PTC Ptc Inc | 0.64% | 124.55 | +3.98% | +10.66% | -12.50% | -28.51% | 32 |
| TEAM Atlassian Corp | 0.52% | 83.84 | +0.81% | +12.27% | -23.15% | -48.29% | 8 |
| GEN Gen Digital Inc | 0.51% | 26.67 | +2.14% | +14.41% | -3.12% | -0.86% | 53 |
| TRMB Trimble Navigation | 0.49% | 53.04 | +0.87% | +5.57% | -8.14% | -32.30% | 38 |
| TYL Tyler Technologies | 0.49% | 318.10 | +5.45% | +13.17% | +1.45% | -29.93% | 68 |
| NTNX Nutanix Inc | 0.45% | 51.28 | +0.16% | +9.25% | -7.59% | -0.79% | 39 |
| DT Dynatrace Inc | 0.43% | 44.77 | -1.34% | +11.15% | -0.44% | +3.30% | 60 |
| GWRE Guidewire Software Inc | 0.43% | 134.47 | +5.34% | +22.13% | -17.37% | -33.10% | 17 |
| IOT Samsara Inc Cl A | 0.40% | 35.93 | +5.12% | +23.98% | -3.83% | +1.35% | 50 |
| HUBS Hubspot Inc | 0.39% | 192.12 | +2.34% | +12.83% | -20.00% | -52.13% | 12 |
| HUT Hut 8 Corp | 0.38% | 97.14 | -8.18% | -17.45% | -26.97% | +111.45% | 3 |
| RBRK Rubrik Inc Cl A | 0.37% | 83.64 | +1.99% | +17.77% | +1.59% | +9.36% | 72 |
| DOCU Docusign Inc | 0.36% | 45.77 | -0.54% | +7.80% | -16.93% | -33.08% | 18 |
| QBTS D-Wave Quantum Inc | 0.35% | 22.53 | -4.13% | +2.83% | -24.67% | -13.84% | 6 |
| BMNR Bitmine Immersion Technologies | 0.33% | 14.36 | +1.48% | +7.81% | -20.09% | -47.11% | 10 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 6.63 | -6.22% | +6.25% | -14.12% | +72.66% | 28 |
| U Unity Software Inc | 0.33% | 29.32 | -2.88% | +9.77% | -4.71% | -33.62% | 48 |
| WULF Terawulf Inc | 0.32% | 21.18 | -10.18% | -18.73% | -20.05% | +84.33% | 11 |
| MANH Manhattan Assoc | 0.30% | 151.04 | +3.16% | +18.12% | -2.58% | -12.85% | 54 |
| RIOT Riot Platforms Inc | 0.29% | 22.11 | -7.72% | -20.35% | -19.07% | +74.51% | 13 |
| CORZ Core Scientific Inc | 0.29% | 21.43 | -9.62% | -21.42% | -26.23% | +47.18% | 4 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.56 | +0.00% | +0.00% | +0.66% | +1.82% | 63 |
| IDCC Interdigital Inc | 0.25% | 281.40 | -0.30% | +3.00% | +8.65% | -11.22% | 83 |
| CIFR Cipher Digital Inc | 0.23% | 20.04 | -12.26% | -21.96% | -23.77% | +35.77% | 7 |
| SNAP Snap Inc | 0.23% | 4.84 | +1.89% | +11.52% | -15.97% | -40.02% | 22 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 64.62 | +4.31% | -6.09% | -35.92% | -18.51% | 1 |
| DSGX Descartes Sys Group | 0.23% | 72.80 | +2.62% | +9.62% | -6.20% | -16.95% | 43 |
| S Sentinelone Inc Cl A | 0.22% | 17.51 | -0.45% | +17.05% | +0.92% | +16.73% | 66 |
| OTEX Open Text Corp | 0.22% | 23.04 | +0.83% | +7.81% | -5.97% | -27.68% | 44 |
| PCOR Procore Technologies Inc | 0.21% | 43.97 | +4.34% | +14.80% | -16.57% | -39.55% | 20 |
| YOU Clear Secure Inc Cl A | 0.20% | 53.79 | -3.36% | +1.15% | -5.00% | +54.27% | 47 |
| MARA Mara Holdings Inc | 0.19% | 12.40 | -7.26% | -10.66% | -13.17% | +38.08% | 30 |
| ESTC Elastic N.V. | 0.18% | 58.04 | -0.70% | +8.28% | -14.13% | -23.06% | 27 |
| BSY Bentley Systems Inc Cl B | 0.18% | 32.26 | +3.13% | +12.37% | -5.12% | -15.16% | 46 |
| DBX Dropbox Inc | 0.18% | 28.56 | +0.53% | +13.88% | +1.42% | +2.73% | 67 |
| CVLT Commvault Systems | 0.17% | 149.98 | +2.01% | +11.98% | +22.81% | +19.64% | 94 |
| PATH Uipath Inc Cl A | 0.17% | 11.71 | +1.39% | +17.93% | -3.86% | -28.55% | 50 |
| ACIW Aci Worldwide Inc | 0.16% | 54.88 | +4.47% | +17.62% | +25.55% | +14.79% | 98 |
| CLSK Cleanspark Inc | 0.15% | 12.62 | -7.34% | -20.48% | -28.21% | +24.70% | 2 |
| APPF Appfolio Cl A | 0.15% | 170.90 | +3.69% | +18.04% | -2.14% | -26.54% | 55 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 20.70 | -0.67% | +15.77% | -18.02% | +1.72% | 16 |
| GTLB Gitlab Inc Cl A | 0.13% | 32.07 | +1.71% | +16.66% | +0.79% | -14.55% | 64 |
| BOX Box Inc | 0.13% | 27.89 | +1.60% | +11.87% | +0.83% | -6.75% | 65 |
| BB Blackberry Ltd | 0.13% | 11.51 | -10.15% | +11.32% | +11.53% | +203.69% | 86 |
| VRNS Varonis Systems Inc | 0.13% | 42.86 | +2.32% | +11.15% | +19.45% | +30.67% | 92 |
| QLYS Qualys Inc | 0.13% | 148.12 | +3.26% | +27.48% | +30.59% | +11.45% | 99 |
| TTAN Servicetitan Inc Cl A | 0.13% | 78.31 | +5.77% | +23.52% | +4.40% | -26.47% | 75 |
| DLB Dolby Laboratories | 0.12% | 51.15 | -2.74% | -2.48% | -8.02% | -19.42% | 39 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 6.55 | -1.95% | +5.48% | -25.74% | -34.30% | 6 |
| BILL Bill Holdings Inc | 0.12% | 40.48 | +4.38% | +21.27% | +5.22% | -25.78% | 77 |
| RNG Ringcentral Inc | 0.12% | 40.01 | -2.39% | +15.47% | -13.72% | +39.00% | 29 |
| LIF Life360 Inc | 0.12% | 57.71 | +0.67% | +17.92% | +22.79% | -10.02% | 94 |
| PEGA Pegasystems Inc | 0.12% | 31.05 | -0.13% | +8.22% | -15.19% | -47.94% | 24 |
| TDC Teradata Corp | 0.11% | 34.56 | +0.29% | +10.88% | -5.34% | +13.53% | 45 |
| TENB Tenable Holdings Inc | 0.11% | 38.60 | +1.85% | +40.67% | +24.92% | +64.05% | 97 |
| ADEA Adeia Inc | 0.11% | 29.24 | -8.77% | -3.75% | -4.63% | +70.18% | 49 |
| QTWO Q2 Holdings Inc | 0.11% | 52.63 | +4.84% | +19.50% | +7.67% | -27.06% | 80 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 5.58 | +3.72% | +24.28% | +11.82% | -29.81% | 88 |
| WK Workiva Llc | 0.10% | 51.93 | +2.24% | +12.14% | -0.02% | -39.79% | 61 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.73 | +0.13% | +0.80% | +0.40% | +28.46% | 62 |
| BRZE Braze Inc Cl A | 0.08% | 23.81 | +3.84% | +21.67% | -7.32% | -30.56% | 40 |
| ALRM Alarm.com | 0.08% | 49.69 | +2.45% | +12.75% | +8.07% | -2.61% | 81 |
| KVYO Klaviyo Inc Series A | 0.08% | 16.90 | +3.30% | +20.46% | -0.29% | -47.95% | 61 |
| AGYS Agilysys Inc | 0.08% | 110.81 | +1.76% | +13.64% | +23.48% | -6.76% | 95 |
| SPSC Sps Commerce Inc | 0.07% | 59.07 | +1.34% | +6.03% | +2.20% | -33.73% | 73 |
| ATEN A10 Networks Inc | 0.07% | 36.30 | -4.47% | +4.49% | +11.21% | +106.25% | 85 |
| NN Nextnav Inc | 0.07% | 16.28 | -8.28% | -2.34% | -18.80% | -2.16% | 15 |
| FRSH Freshworks Inc Cl A | 0.07% | 10.34 | -0.67% | +12.76% | +1.77% | -15.59% | 72 |
| FIVN Five9 Inc | 0.06% | 23.44 | +0.86% | +20.14% | -6.35% | +16.91% | 42 |
| NCNO Ncino Inc | 0.06% | 17.75 | +3.50% | +23.69% | +6.73% | -30.77% | 78 |
| AVPT Avepoint Inc Cl A | 0.05% | 11.46 | +0.17% | +10.72% | +1.51% | -17.49% | 69 |
| BL Blackline Inc | 0.05% | 29.88 | +1.46% | +12.75% | -1.97% | -45.96% | 56 |
| ALKT Alkami Technology Inc | 0.05% | 19.02 | +1.60% | +20.08% | +6.91% | -17.56% | 79 |
| PRGS Progress Software | 0.04% | 38.42 | -1.89% | +28.88% | +12.83% | -10.57% | 89 |
| AI C3.Ai Inc Cl A | 0.04% | 9.06 | -3.92% | +3.54% | -18.96% | -32.79% | 14 |
| INTA Intapp Inc | 0.04% | 27.39 | +3.95% | +24.39% | +9.21% | -40.22% | 83 |
| BLKB Blackbaud Inc | 0.04% | 30.09 | -0.03% | +13.21% | -1.05% | -52.48% | 59 |
| LSPD Lightspeed Commerce Inc | 0.04% | 10.80 | +0.00% | +12.97% | +11.57% | -10.60% | 87 |
| VERX Vertex Inc Cl A | 0.04% | 12.85 | +2.64% | +18.54% | -7.22% | -35.65% | 41 |
| VYX NCR Voyix Corporation | 0.03% | 8.70 | +2.35% | +15.85% | +19.67% | -14.71% | 93 |
| APPN Appian Corp Cl A | 0.03% | 24.40 | +2.69% | +18.27% | -8.58% | -31.11% | 37 |
| PD Pagerduty Inc | 0.02% | 9.98 | -0.50% | +16.59% | -1.58% | -23.87% | 57 |
| CXM Sprinklr Inc Cl A | 0.02% | 5.41 | +1.69% | +10.18% | -3.74% | -30.46% | 51 |
| ASAN Asana Inc Cl A | 0.02% | 7.34 | +0.41% | +14.87% | -15.44% | -46.46% | 23 |
| PAR Par Technology Corp | 0.02% | 19.05 | +3.76% | +19.66% | +24.59% | -47.49% | 96 |
| RPD Rapid7 Inc | 0.02% | 9.29 | +3.57% | +31.40% | +10.20% | -38.88% | 84 |
| NABL N-Able Inc | 0.01% | 4.11 | +4.85% | +28.84% | -1.44% | -45.05% | 58 |
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.