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 -3.25pp sector return − SPY
RS vs Nasdaq-100 21d -3.06pp sector return − QQQ
Improving below the surface - the A/D line is rising while price is flat-to-down; more names participating than the headline shows. Last 21 sessions — price -0.56% · A/D +104 (+0.95/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 | -1.24% | +0.24 | +1pp | -1.04pp | Improving |
| 1 month | -0.56% | +0.95 | +21pp | +7.15pp | Improving |
| 1 quarter | +20.59% | +4.94 | +15pp | +5.70pp | Confirming ↑ |
Over the last 126 sessions: price down -11.50%, breadth down (-0.4/name) · % beating 58→66 · median−ETF +1.00pp→+5.76pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.57% | -0.55% | +1.02pp | 38 / 71 | 71 / 39 | 31 of 110 | ±2.26% |
| 5d | -1.24% | +0.53% | +1.77pp | 63 / 46 | 73 / 37 | 19 of 110 | ±4.5% |
| 21d | -0.56% | +4.53% | +5.09pp | 71 / 39 | 72 / 38 | 3 of 110 | ±14.49% |
| YTD | -12.55% | -19.91% | -7.37pp | 37 / 73 | 46 / 64 | 1 of 110 | ±43.33% |
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)
- ORCL+2.65%+0.24pp
- CRM+0.50%+0.03pp
- SNPS+0.48%+0.02pp
- INTU+0.58%+0.02pp
- ADBE+0.44%+0.02pp
- CRWD-5.66%-0.34pp
- PANW-3.67%-0.27pp
- PLTR-1.74%-0.13pp
- APP-2.58%-0.12pp
- FTNT-3.80%-0.12pp
This month (21d)
- PANW+25.10%+1.88pp
- CRWD+16.09%+0.98pp
- FTNT+13.82%+0.42pp
- DDOG+13.28%+0.35pp
- TTWO+14.69%+0.23pp
- ORCL-31.91%-2.94pp
- CRM-6.62%-0.4pp
- MSFT-4.54%-0.37pp
- MSTR-19.12%-0.37pp
- PLTR-4.00%-0.29pp
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)
- RPD+57.32%
- TENB+49.04%
- QLYS+39.18%
- VRNS+37.10%
- ACIW+32.32%
- ORCL-31.91%
- NN-23.33%
- CLSK-19.54%
- MSTR-19.12%
- CRCL-18.45%
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% | 144.22 | +2.65% | +1.21% | -31.91% | -25.55% | 0 |
| MSFT Microsoft Corp | 8.19% | 385.10 | +0.19% | -1.38% | -4.54% | -20.19% | 24 |
| PANW Palo Alto Networks | 7.49% | 325.91 | -3.67% | -6.36% | +25.10% | +76.93% | 94 |
| PLTR Palantir Technologies Cl A | 7.18% | 126.79 | -1.74% | -1.94% | -4.00% | -28.67% | 26 |
| CRWD Crowdstrike Holdings | 6.06% | 187.18 | -5.66% | -3.51% | +16.09% | +59.72% | 78 |
| CRM Salesforce Inc | 6.05% | 163.32 | +0.50% | -1.68% | -6.62% | -38.19% | 17 |
| APP Applovin Corp Cl A | 4.82% | 506.98 | -2.58% | -3.81% | -2.66% | -24.76% | 30 |
| ADBE Adobe Systems Inc | 3.71% | 223.64 | +0.44% | +1.78% | -5.99% | -36.10% | 19 |
| CDNS Cadence Design Sys | 3.62% | 384.17 | -0.46% | +2.96% | -1.72% | +22.90% | 31 |
| NOW Servicenow Inc | 3.61% | 107.71 | -1.04% | +1.31% | +0.69% | -29.69% | 36 |
| SNPS Synopsys Inc | 3.57% | 445.50 | +0.48% | +1.91% | -4.25% | -5.16% | 25 |
| FTNT Fortinet Inc | 3.03% | 157.51 | -3.80% | +0.81% | +13.82% | +98.35% | 75 |
| INTU Intuit Inc | 2.92% | 274.96 | +0.58% | +0.30% | -6.41% | -58.29% | 18 |
| DDOG Datadog Inc Cl A | 2.65% | 257.54 | -4.26% | -1.08% | +13.28% | +89.38% | 72 |
| MSTR Strategy Inc | 1.92% | 94.64 | +0.80% | -6.08% | -19.12% | -37.72% | 3 |
| ADSK Autodesk Inc | 1.89% | 208.45 | -0.06% | +0.47% | -6.98% | -29.58% | 16 |
| EA Electronic Arts Inc | 1.69% | 206.41 | -0.07% | +0.58% | +1.94% | +1.11% | 41 |
| TTWO Take-Two Interactive | 1.54% | 243.20 | -1.18% | -4.62% | +14.69% | -5.01% | 76 |
| ROP Roper Industries | 1.28% | 355.90 | -0.01% | -2.03% | +6.12% | -19.68% | 53 |
| FICO Fair Isaac and Company | 1.08% | 1250.90 | -2.23% | -1.57% | +2.10% | -26.01% | 43 |
| WDAY Workday Inc | 0.96% | 138.95 | +0.44% | +2.62% | -0.91% | -35.31% | 34 |
| ZM Zoom Communications Inc | 0.95% | 89.76 | -0.13% | +3.00% | -7.30% | +4.02% | 15 |
| ZS Zscaler Inc | 0.65% | 139.27 | -5.34% | -5.47% | +10.67% | -38.08% | 70 |
| PTC Ptc Inc | 0.64% | 124.74 | +0.77% | +0.15% | -8.93% | -28.40% | 11 |
| TEAM Atlassian Corp | 0.52% | 88.88 | -2.02% | +6.01% | -7.04% | -45.18% | 15 |
| GEN Gen Digital Inc | 0.51% | 25.91 | -0.31% | -2.85% | +3.76% | -3.69% | 47 |
| TRMB Trimble Navigation | 0.49% | 52.82 | +0.21% | -0.41% | -0.25% | -32.58% | 35 |
| TYL Tyler Technologies | 0.49% | 309.48 | -0.49% | -2.71% | +0.18% | -31.83% | 35 |
| NTNX Nutanix Inc | 0.45% | 54.79 | -1.33% | +6.84% | +7.98% | +6.00% | 61 |
| DT Dynatrace Inc | 0.43% | 43.68 | -3.43% | -2.43% | +7.14% | +0.78% | 57 |
| GWRE Guidewire Software Inc | 0.43% | 136.13 | +0.80% | +1.23% | +9.33% | -32.28% | 65 |
| IOT Samsara Inc Cl A | 0.40% | 36.72 | -0.73% | +2.20% | +9.22% | +3.58% | 65 |
| HUBS Hubspot Inc | 0.39% | 207.48 | +0.74% | +8.00% | +4.95% | -48.30% | 50 |
| HUT Hut 8 Corp | 0.38% | 102.22 | -3.77% | +5.23% | -9.26% | +122.51% | 10 |
| RBRK Rubrik Inc Cl A | 0.37% | 84.38 | -4.92% | +0.88% | +17.62% | +10.33% | 84 |
| DOCU Docusign Inc | 0.36% | 49.18 | +0.86% | +7.45% | +9.12% | -28.10% | 64 |
| QBTS D-Wave Quantum Inc | 0.35% | 20.09 | -5.06% | -10.83% | -14.58% | -23.17% | 7 |
| BMNR Bitmine Immersion Technologies | 0.33% | 14.98 | +1.97% | +4.32% | -7.53% | -44.83% | 14 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 6.38 | +1.59% | -3.77% | +3.57% | +66.15% | 45 |
| U Unity Software Inc | 0.33% | 30.89 | +0.52% | +5.35% | +8.61% | -30.07% | 62 |
| WULF Terawulf Inc | 0.32% | 21.97 | -5.30% | +3.73% | -13.16% | +91.21% | 8 |
| MANH Manhattan Assoc | 0.30% | 154.90 | -1.10% | +2.56% | +5.70% | -10.62% | 52 |
| RIOT Riot Platforms Inc | 0.29% | 20.97 | -2.53% | -5.18% | -17.12% | +65.47% | 5 |
| CORZ Core Scientific Inc | 0.29% | 23.49 | -1.05% | +9.61% | -13.03% | +61.33% | 9 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.56 | +0.00% | +0.00% | +0.74% | +1.82% | 37 |
| IDCC Interdigital Inc | 0.25% | 264.88 | -0.53% | -5.63% | +3.02% | -16.43% | 45 |
| CIFR Cipher Digital Inc | 0.23% | 22.67 | -2.54% | +13.12% | -1.58% | +53.59% | 33 |
| SNAP Snap Inc | 0.23% | 4.68 | -0.43% | -3.31% | -16.28% | -42.01% | 6 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 66.14 | +4.97% | +2.35% | -18.45% | -16.60% | 4 |
| DSGX Descartes Sys Group | 0.23% | 72.07 | +0.33% | -1.00% | -3.65% | -17.78% | 27 |
| S Sentinelone Inc Cl A | 0.22% | 17.88 | -5.20% | +2.11% | +17.32% | +19.20% | 82 |
| OTEX Open Text Corp | 0.22% | 23.01 | +0.17% | -0.13% | +3.84% | -27.77% | 48 |
| PCOR Procore Technologies Inc | 0.21% | 43.33 | -1.57% | -1.46% | -5.27% | -40.43% | 22 |
| YOU Clear Secure Inc Cl A | 0.20% | 55.22 | -1.60% | +2.66% | +4.11% | +58.37% | 49 |
| MARA Mara Holdings Inc | 0.19% | 12.60 | -4.69% | +1.61% | -5.33% | +40.31% | 21 |
| ESTC Elastic N.V. | 0.18% | 60.24 | -2.93% | +3.79% | -1.67% | -20.15% | 32 |
| BSY Bentley Systems Inc Cl B | 0.18% | 31.67 | +0.19% | -1.83% | -4.35% | -16.71% | 25 |
| DBX Dropbox Inc | 0.18% | 29.19 | -0.75% | +2.21% | +6.42% | +5.00% | 55 |
| CVLT Commvault Systems | 0.17% | 150.57 | -0.57% | +0.39% | +23.65% | +20.11% | 90 |
| PATH Uipath Inc Cl A | 0.17% | 11.68 | -1.02% | -0.26% | +8.65% | -28.74% | 63 |
| ACIW Aci Worldwide Inc | 0.16% | 56.42 | +0.04% | +2.81% | +32.32% | +18.01% | 95 |
| CLSK Cleanspark Inc | 0.15% | 12.85 | -0.31% | +1.82% | -19.54% | +26.98% | 2 |
| APPF Appfolio Cl A | 0.15% | 175.58 | +0.15% | +2.74% | +3.72% | -24.53% | 46 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 21.49 | -1.96% | +3.82% | +1.94% | +5.60% | 42 |
| GTLB Gitlab Inc Cl A | 0.13% | 32.42 | -4.25% | +1.09% | +7.00% | -13.62% | 56 |
| BOX Box Inc | 0.13% | 28.64 | -0.56% | +2.69% | +7.91% | -4.25% | 60 |
| BB Blackberry Ltd | 0.13% | 10.97 | -4.02% | -4.69% | +24.10% | +189.45% | 91 |
| VRNS Varonis Systems Inc | 0.13% | 44.53 | -2.79% | +3.90% | +37.10% | +35.76% | 96 |
| QLYS Qualys Inc | 0.13% | 152.69 | -4.20% | +3.09% | +39.18% | +14.89% | 97 |
| TTAN Servicetitan Inc Cl A | 0.13% | 77.69 | -2.20% | -0.79% | +9.87% | -27.05% | 67 |
| DLB Dolby Laboratories | 0.12% | 49.80 | -0.64% | -2.64% | -8.00% | -21.54% | 13 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 6.64 | -0.60% | +1.37% | -5.41% | -33.40% | 20 |
| BILL Bill Holdings Inc | 0.12% | 41.36 | +2.07% | +2.17% | +21.33% | -24.17% | 89 |
| RNG Ringcentral Inc | 0.12% | 41.77 | +2.03% | +4.40% | +6.53% | +45.11% | 55 |
| LIF Life360 Inc | 0.12% | 54.57 | +0.42% | -5.44% | +16.11% | -14.92% | 79 |
| PEGA Pegasystems Inc | 0.12% | 31.24 | -2.59% | +0.61% | -8.55% | -47.63% | 12 |
| TDC Teradata Corp | 0.11% | 33.74 | -3.13% | -2.37% | +0.81% | +10.84% | 38 |
| TENB Tenable Holdings Inc | 0.11% | 39.78 | -3.84% | +3.06% | +49.04% | +69.06% | 98 |
| ADEA Adeia Inc | 0.11% | 28.98 | -1.83% | -0.72% | -5.08% | +68.67% | 23 |
| QTWO Q2 Holdings Inc | 0.11% | 51.83 | -0.59% | -1.52% | +16.76% | -28.17% | 80 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 5.92 | +10.04% | +6.09% | +24.63% | -25.53% | 92 |
| WK Workiva Llc | 0.10% | 52.17 | -0.31% | +0.46% | +7.61% | -39.51% | 58 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.88 | +0.26% | +0.40% | +0.91% | +28.98% | 39 |
| BRZE Braze Inc Cl A | 0.08% | 25.13 | +1.17% | +5.54% | +13.25% | -26.71% | 71 |
| ALRM Alarm.com | 0.08% | 51.50 | -0.37% | +3.64% | +13.49% | +0.94% | 74 |
| KVYO Klaviyo Inc Series A | 0.08% | 16.91 | -1.46% | +0.06% | +14.41% | -47.92% | 75 |
| AGYS Agilysys Inc | 0.08% | 108.98 | -0.15% | -1.65% | +20.90% | -8.30% | 88 |
| SPSC Sps Commerce Inc | 0.07% | 60.85 | +0.18% | +3.01% | +10.58% | -31.73% | 69 |
| ATEN A10 Networks Inc | 0.07% | 37.17 | -2.47% | +2.40% | +20.10% | +111.19% | 86 |
| NN Nextnav Inc | 0.07% | 16.00 | -5.38% | -1.72% | -23.33% | -3.85% | 1 |
| FRSH Freshworks Inc Cl A | 0.07% | 10.36 | -0.38% | +0.19% | +10.45% | -15.43% | 68 |
| FIVN Five9 Inc | 0.06% | 25.42 | +1.97% | +8.45% | +17.25% | +26.78% | 81 |
| NCNO Ncino Inc | 0.06% | 16.99 | +0.06% | -4.28% | +9.47% | -33.74% | 66 |
| AVPT Avepoint Inc Cl A | 0.05% | 12.44 | -1.82% | +8.55% | +17.58% | -10.44% | 83 |
| BL Blackline Inc | 0.05% | 29.13 | +0.31% | -2.51% | +2.79% | -47.31% | 44 |
| ALKT Alkami Technology Inc | 0.05% | 17.35 | -2.03% | -8.78% | +13.32% | -24.79% | 73 |
| PRGS Progress Software | 0.04% | 37.86 | -1.66% | -1.46% | +20.50% | -11.87% | 87 |
| AI C3.Ai Inc Cl A | 0.04% | 8.95 | -0.67% | -1.21% | -17.05% | -33.61% | 5 |
| INTA Intapp Inc | 0.04% | 28.07 | +1.30% | +2.48% | +17.99% | -38.74% | 85 |
| BLKB Blackbaud Inc | 0.04% | 29.59 | +1.20% | -1.66% | +6.21% | -53.27% | 54 |
| LSPD Lightspeed Commerce Inc | 0.04% | 10.30 | +0.78% | -4.63% | +7.85% | -14.74% | 59 |
| VERX Vertex Inc Cl A | 0.04% | 12.38 | -3.28% | -3.66% | -2.75% | -38.01% | 29 |
| VYX NCR Voyix Corporation | 0.03% | 8.06 | +0.88% | -7.36% | +15.31% | -20.98% | 77 |
| APPN Appian Corp Cl A | 0.03% | 25.36 | +0.48% | +3.93% | +5.45% | -28.40% | 51 |
| PD Pagerduty Inc | 0.02% | 10.33 | -1.24% | +3.51% | +18.19% | -21.21% | 85 |
| CXM Sprinklr Inc Cl A | 0.02% | 5.48 | -0.36% | +1.29% | +1.48% | -29.56% | 40 |
| ASAN Asana Inc Cl A | 0.02% | 7.33 | -0.54% | -0.14% | -2.79% | -46.54% | 28 |
| PAR Par Technology Corp | 0.02% | 16.88 | +0.84% | -11.39% | +24.76% | -53.47% | 93 |
| RPD Rapid7 Inc | 0.02% | 11.17 | -2.10% | +20.24% | +57.32% | -26.51% | 99 |
| NABL N-Able Inc | 0.01% | 4.23 | -1.63% | +2.92% | +30.96% | -43.45% | 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.
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Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.