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 +1.32pp sector return − SPY
RS vs Nasdaq-100 21d +5.81pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +2.1% · A/D +86 (+0.78/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 | -5.19% | -1.36 | -4pp | -2.70pp | Confirming ↓ |
| 1 month | +2.10% | +0.78 | +2pp | -0.36pp | Confirming ↑ |
| 1 quarter | +5.30% | +1.2 | +24pp | +5.90pp | Confirming ↑ |
Over the last 126 sessions: price down -9.94%, breadth up (+0.25/name) · % beating 63→68 · median−ETF +1.86pp→+4.33pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +1.01% | +2.45% | +1.44pp | 77 / 31 | 66 / 44 | 16 of 110 | ±4.28% |
| 5d | -5.19% | -4.74% | +0.46pp | 17 / 92 | 61 / 49 | 19 of 110 | ±7.54% |
| 21d | +2.10% | +6.43% | +4.33pp | 79 / 31 | 74 / 36 | 7 of 110 | ±13.03% |
| YTD | -16.74% | -21.83% | -5.09pp | 32 / 78 | 45 / 65 | 5 of 110 | ±40.69% |
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)
- NOW+7.44%+0.27pp
- CRM+4.29%+0.26pp
- ADBE+6.10%+0.23pp
- INTU+5.26%+0.15pp
- WDAY+5.84%+0.06pp
- ORCL-4.21%-0.39pp
- APP-1.72%-0.08pp
- CDNS-1.28%-0.05pp
- PANW-0.57%-0.04pp
- MSTR-2.09%-0.04pp
This month (21d)
- PANW+13.51%+1.01pp
- PLTR+8.30%+0.6pp
- CRWD+8.93%+0.54pp
- ADBE+14.52%+0.54pp
- CRM+7.14%+0.43pp
- ORCL-27.00%-2.49pp
- APP-15.70%-0.76pp
- SNPS-19.50%-0.7pp
- CDNS-12.40%-0.45pp
- QBTS-29.46%-0.1pp
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)
- RNG+34.76%
- RPD+34.04%
- BILL+30.04%
- CCC+29.62%
- PRGS+26.34%
- WULF-31.55%
- QBTS-29.46%
- ORCL-27.00%
- NN-26.74%
- SNPS-19.50%
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% | 114.99 | -4.21% | -9.03% | -27.00% | -40.64% | 2 |
| MSFT Microsoft Corp | 8.19% | 381.70 | +0.03% | -3.08% | +4.44% | -20.89% | 40 |
| PANW Palo Alto Networks | 7.49% | 323.79 | -0.57% | -9.73% | +13.51% | +75.78% | 75 |
| PLTR Palantir Technologies Cl A | 7.18% | 122.92 | -0.36% | -7.15% | +8.30% | -30.85% | 54 |
| CRWD Crowdstrike Holdings | 6.06% | 183.28 | -0.08% | -9.75% | +8.93% | +56.40% | 58 |
| CRM Salesforce Inc | 6.05% | 163.66 | +4.29% | -4.16% | +7.14% | -38.07% | 53 |
| APP Applovin Corp Cl A | 4.82% | 391.98 | -1.72% | -7.67% | -15.70% | -41.83% | 6 |
| ADBE Adobe Systems Inc | 3.71% | 225.11 | +6.10% | -5.12% | +14.52% | -35.68% | 79 |
| CDNS Cadence Design Sys | 3.62% | 326.24 | -1.28% | -1.17% | -12.40% | +4.37% | 10 |
| NOW Servicenow Inc | 3.61% | 98.78 | +7.44% | -4.32% | +5.31% | -35.52% | 45 |
| SNPS Synopsys Inc | 3.57% | 373.47 | -0.01% | -2.81% | -19.50% | -20.49% | 4 |
| FTNT Fortinet Inc | 3.03% | 152.37 | +0.55% | -5.72% | +4.88% | +91.88% | 41 |
| INTU Intuit Inc | 2.92% | 296.33 | +5.26% | +1.80% | +13.00% | -55.04% | 74 |
| DDOG Datadog Inc Cl A | 2.65% | 246.86 | +1.01% | -4.57% | +10.87% | +81.53% | 68 |
| MSTR Strategy Inc | 1.92% | 91.67 | -2.09% | -3.35% | -2.61% | -39.67% | 22 |
| ADSK Autodesk Inc | 1.89% | 209.75 | +2.19% | -3.94% | +8.90% | -29.14% | 57 |
| EA Electronic Arts Inc | 1.69% | 209.06 | +0.03% | +0.08% | +2.22% | +2.41% | 33 |
| TTWO Take-Two Interactive | 1.54% | 231.65 | +0.61% | -2.13% | -1.75% | -9.52% | 23 |
| ROP Roper Industries | 1.28% | 367.34 | +3.44% | +1.16% | +10.78% | -17.10% | 66 |
| FICO Fair Isaac and Company | 1.08% | 1237.37 | +2.59% | -1.57% | +8.51% | -26.81% | 55 |
| WDAY Workday Inc | 0.96% | 135.34 | +5.84% | -6.52% | +14.61% | -36.99% | 80 |
| ZM Zoom Communications Inc | 0.95% | 87.99 | +4.61% | -3.45% | +2.95% | +1.97% | 37 |
| ZS Zscaler Inc | 0.65% | 142.32 | +1.88% | -5.08% | +11.83% | -36.72% | 71 |
| PTC Ptc Inc | 0.64% | 118.52 | +4.84% | -4.70% | +4.95% | -31.97% | 42 |
| TEAM Atlassian Corp | 0.52% | 86.88 | +8.40% | -6.87% | +6.54% | -46.42% | 50 |
| GEN Gen Digital Inc | 0.51% | 25.84 | +3.07% | -3.37% | +9.68% | -3.95% | 63 |
| TRMB Trimble Navigation | 0.49% | 52.91 | +5.08% | +0.36% | +5.52% | -32.47% | 47 |
| TYL Tyler Technologies | 0.49% | 297.15 | +3.12% | -7.00% | +3.89% | -34.54% | 39 |
| NTNX Nutanix Inc | 0.45% | 55.04 | +4.58% | -0.07% | +15.87% | +6.48% | 82 |
| DT Dynatrace Inc | 0.43% | 41.62 | +2.39% | -6.28% | +2.49% | -3.97% | 35 |
| GWRE Guidewire Software Inc | 0.43% | 138.23 | +5.21% | -7.86% | +25.29% | -31.23% | 94 |
| IOT Samsara Inc Cl A | 0.40% | 33.11 | +5.14% | -13.60% | +5.99% | -6.60% | 48 |
| HUBS Hubspot Inc | 0.39% | 190.01 | -7.27% | -15.39% | +9.65% | -52.65% | 62 |
| HUT Hut 8 Corp | 0.38% | 109.99 | -6.53% | +20.27% | -5.26% | +139.42% | 18 |
| RBRK Rubrik Inc Cl A | 0.37% | 73.24 | +0.84% | -7.26% | -1.72% | -4.24% | 24 |
| DOCU Docusign Inc | 0.36% | 50.44 | +7.23% | -4.36% | +14.01% | -26.26% | 77 |
| QBTS D-Wave Quantum Inc | 0.35% | 16.21 | -5.20% | -3.11% | -29.46% | -38.01% | 1 |
| BMNR Bitmine Immersion Technologies | 0.33% | 15.79 | -4.82% | +0.64% | +12.62% | -41.84% | 72 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 5.95 | -0.67% | -1.82% | -4.49% | +54.95% | 19 |
| U Unity Software Inc | 0.33% | 28.62 | -1.11% | -1.28% | +5.41% | -35.20% | 45 |
| WULF Terawulf Inc | 0.32% | 18.46 | -7.93% | +1.65% | -31.55% | +60.66% | 0 |
| MANH Manhattan Assoc | 0.30% | 151.67 | +2.88% | -7.06% | +15.89% | -12.49% | 83 |
| RIOT Riot Platforms Inc | 0.29% | 22.53 | -5.57% | +23.38% | -17.83% | +77.82% | 5 |
| CORZ Core Scientific Inc | 0.29% | 22.75 | -5.05% | +8.64% | -18.14% | +56.25% | 5 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.56 | +0.00% | +0.00% | +0.74% | +1.82% | 31 |
| IDCC Interdigital Inc | 0.25% | 258.30 | +0.87% | -0.83% | -5.75% | -18.51% | 15 |
| CIFR Cipher Digital Inc | 0.23% | 23.15 | -10.34% | +31.83% | -11.71% | +56.84% | 12 |
| SNAP Snap Inc | 0.23% | 4.35 | -1.36% | -3.97% | -3.97% | -46.10% | 20 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 62.36 | +0.29% | +3.14% | -12.14% | -21.36% | 11 |
| DSGX Descartes Sys Group | 0.23% | 68.18 | +3.73% | -8.06% | +0.60% | -22.22% | 30 |
| S Sentinelone Inc Cl A | 0.22% | 18.14 | +4.37% | -7.31% | +19.97% | +20.93% | 89 |
| OTEX Open Text Corp | 0.22% | 22.37 | +3.95% | -3.87% | +5.52% | -29.78% | 46 |
| PCOR Procore Technologies Inc | 0.21% | 42.83 | +4.26% | -6.79% | +9.82% | -41.12% | 64 |
| YOU Clear Secure Inc Cl A | 0.20% | 52.24 | +0.75% | -6.76% | -1.34% | +49.82% | 25 |
| MARA Mara Holdings Inc | 0.19% | 12.12 | -5.09% | +13.38% | -13.43% | +34.97% | 8 |
| ESTC Elastic N.V. | 0.18% | 58.68 | +2.35% | -4.72% | -0.05% | -22.22% | 27 |
| BSY Bentley Systems Inc Cl B | 0.18% | 31.40 | +4.25% | -2.91% | +9.56% | -17.42% | 59 |
| DBX Dropbox Inc | 0.18% | 29.19 | +2.67% | -4.67% | +10.86% | +5.00% | 67 |
| CVLT Commvault Systems | 0.17% | 142.31 | +0.83% | -3.72% | +8.83% | +13.52% | 56 |
| PATH Uipath Inc Cl A | 0.17% | 10.84 | +6.27% | -10.78% | +5.14% | -33.86% | 43 |
| ACIW Aci Worldwide Inc | 0.16% | 56.31 | +3.26% | -3.03% | +21.38% | +17.78% | 92 |
| CLSK Cleanspark Inc | 0.15% | 14.52 | -6.98% | +11.44% | -10.54% | +43.48% | 13 |
| APPF Appfolio Cl A | 0.15% | 165.05 | +0.67% | -8.17% | +10.91% | -29.06% | 69 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 19.13 | -1.29% | -11.76% | +1.54% | -6.00% | 32 |
| GTLB Gitlab Inc Cl A | 0.13% | 31.28 | +3.51% | -4.40% | +10.65% | -16.65% | 65 |
| BOX Box Inc | 0.13% | 29.01 | +2.58% | -4.82% | +13.94% | -3.01% | 76 |
| BB Blackberry Ltd | 0.13% | 8.54 | -1.04% | -5.01% | -0.93% | +125.33% | 26 |
| VRNS Varonis Systems Inc | 0.13% | 45.74 | +2.14% | -3.79% | +22.66% | +39.45% | 93 |
| QLYS Qualys Inc | 0.13% | 137.48 | +2.80% | -13.77% | +19.20% | +3.45% | 88 |
| TTAN Servicetitan Inc Cl A | 0.13% | 70.48 | +2.04% | -7.26% | +8.38% | -33.82% | 55 |
| DLB Dolby Laboratories | 0.12% | 49.86 | +1.42% | +1.61% | -5.28% | -21.45% | 17 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 6.16 | -0.96% | -1.75% | -2.84% | -38.21% | 21 |
| BILL Bill Holdings Inc | 0.12% | 43.51 | +5.45% | -2.68% | +30.04% | -20.22% | 97 |
| RNG Ringcentral Inc | 0.12% | 48.31 | +25.09% | +16.92% | +34.76% | +67.83% | 99 |
| LIF Life360 Inc | 0.12% | 48.86 | -1.39% | -9.17% | -1.13% | -23.82% | 25 |
| PEGA Pegasystems Inc | 0.12% | 26.82 | +3.11% | -16.60% | -10.27% | -55.04% | 14 |
| TDC Teradata Corp | 0.11% | 28.52 | +3.03% | -6.55% | -10.00% | -6.31% | 15 |
| TENB Tenable Holdings Inc | 0.11% | 32.25 | +1.99% | -19.13% | +15.51% | +37.06% | 81 |
| ADEA Adeia Inc | 0.11% | 25.95 | -3.60% | +2.25% | -13.67% | +51.03% | 7 |
| QTWO Q2 Holdings Inc | 0.11% | 54.61 | +3.27% | -0.46% | +21.27% | -24.32% | 91 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 5.82 | +1.39% | -3.80% | +29.62% | -26.79% | 96 |
| WK Workiva Llc | 0.10% | 52.42 | +3.43% | -8.32% | +9.60% | -39.22% | 60 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.67 | -0.03% | -0.55% | +0.59% | +28.26% | 29 |
| BRZE Braze Inc Cl A | 0.08% | 21.76 | +2.54% | -17.89% | +11.70% | -36.54% | 70 |
| ALRM Alarm.com | 0.08% | 51.78 | +2.53% | -2.67% | +16.44% | +1.49% | 84 |
| KVYO Klaviyo Inc Series A | 0.08% | 16.40 | +4.66% | -7.19% | +16.64% | -49.49% | 85 |
| AGYS Agilysys Inc | 0.08% | 98.54 | +3.72% | -7.63% | +6.75% | -17.08% | 52 |
| SPSC Sps Commerce Inc | 0.07% | 61.16 | +3.70% | -6.75% | +10.12% | -31.38% | 65 |
| ATEN A10 Networks Inc | 0.07% | 34.27 | -1.13% | -4.70% | +0.26% | +94.71% | 28 |
| NN Nextnav Inc | 0.07% | 12.44 | -1.66% | -4.75% | -26.74% | -25.24% | 3 |
| FRSH Freshworks Inc Cl A | 0.07% | 10.27 | +5.12% | -5.69% | +9.61% | -16.16% | 61 |
| FIVN Five9 Inc | 0.06% | 23.12 | +6.32% | -9.62% | +18.69% | +15.31% | 87 |
| NCNO Ncino Inc | 0.06% | 16.56 | +2.10% | -7.23% | +12.65% | -35.41% | 73 |
| AVPT Avepoint Inc Cl A | 0.05% | 12.24 | +3.51% | -7.41% | +17.69% | -11.88% | 85 |
| BL Blackline Inc | 0.05% | 28.74 | +4.74% | -5.12% | +6.33% | -48.02% | 49 |
| ALKT Alkami Technology Inc | 0.05% | 16.79 | +3.13% | -6.25% | +5.27% | -27.22% | 44 |
| PRGS Progress Software | 0.04% | 37.85 | +2.52% | -6.66% | +26.34% | -11.89% | 95 |
| AI C3.Ai Inc Cl A | 0.04% | 8.15 | +0.00% | -7.60% | -12.55% | -39.54% | 9 |
| INTA Intapp Inc | 0.04% | 27.47 | +4.57% | -5.67% | +21.17% | -40.05% | 90 |
| BLKB Blackbaud Inc | 0.04% | 32.71 | +4.67% | +0.96% | +18.47% | -48.34% | 86 |
| LSPD Lightspeed Commerce Inc | 0.04% | 9.91 | +3.55% | -4.71% | +2.59% | -17.96% | 36 |
| VERX Vertex Inc Cl A | 0.04% | 11.87 | +9.00% | -7.27% | +6.65% | -40.56% | 51 |
| VYX NCR Voyix Corporation | 0.03% | 7.67 | +0.92% | -6.58% | +2.27% | -24.80% | 34 |
| APPN Appian Corp Cl A | 0.03% | 23.75 | +8.15% | -9.04% | +14.02% | -32.95% | 78 |
| PD Pagerduty Inc | 0.02% | 9.08 | +5.21% | -11.84% | +2.37% | -30.74% | 35 |
| CXM Sprinklr Inc Cl A | 0.02% | 5.69 | +3.45% | -2.40% | +13.57% | -26.86% | 75 |
| ASAN Asana Inc Cl A | 0.02% | 6.86 | +4.41% | -10.79% | +3.16% | -49.96% | 38 |
| PAR Par Technology Corp | 0.02% | 15.44 | -0.64% | -5.57% | -5.74% | -57.44% | 16 |
| RPD Rapid7 Inc | 0.02% | 9.49 | -0.73% | -22.21% | +34.04% | -37.57% | 98 |
| NABL N-Able Inc | 0.01% | 4.08 | +4.88% | -14.47% | +25.54% | -45.45% | 95 |
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.