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Constituent dispersion · breadth vs the index

MXI — Global Materials

52/85 covered · 63% by weight · benchmark: cap-weighted constituents · closes through 2026-07-24 ·holdings as of 2026-06-16

Concentration 31.41% in top 5 28.82 effective names · HHI 347
RS vs S&P 500 21d -2.68pp sector return − SPY
RS vs Nasdaq-100 21d +1.81pp sector return − QQQ
Broad decline - breadth is falling with price. Last 21 sessions — price -2.07% · A/D -28 (-0.54/name)
MXI 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.

HorizonPriceA/D /name% beating ΔMedian−ETF ΔRead
1 week +0.47% +0.27 Improving
1 month -2.07% -0.54 Confirming ↓
1 quarter +2.65% -0.56 Weakening

Over the last 126 sessions: price up +3.59%, breadth down (-0.69/name) · % beating —→— · median−ETF —→—.

Dispersion by window

WindowETFMedianMedian − ETF Up / DownBeat / Lag±1% bandDispersion
1d +1.11% +1.20% +0.09pp 39 / 11 27 / 25 21 of 52 ±2.91%
5d +0.44% +0.62% +0.18pp 31 / 20 27 / 25 14 of 52 ±4.47%
21d -1.90% -0.67% +1.23pp 24 / 27 29 / 22 6 of 51 ±7.78%
YTD +9.53% +9.71% +0.18pp 30 / 18 25 / 24 2 of 49 ±20.34%

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)

  • AAL+6.75%+0.13pp
  • LIN+1.18%+0.09pp
  • SW+11.10%+0.07pp
  • IP+11.21%+0.06pp
  • PKG+8.76%+0.06pp
  • NEM-1.62%-0.06pp
  • FCX-1.42%-0.04pp
  • DOW-3.43%-0.03pp
  • LYB-2.27%-0.01pp
  • NHY.OL-2.42%-0.01pp

This month (21d)

  • CTVA+11.44%+0.2pp
  • APD+7.53%+0.16pp
  • CF+21.32%+0.13pp
  • GLEN.LSE+3.09%+0.07pp
  • S32.LSE+12.98%+0.06pp
  • AI-12.55%-0.5pp
  • AAL-17.00%-0.33pp
  • CRH-10.85%-0.24pp
  • RIO-4.41%-0.16pp
  • ALB-22.31%-0.15pp

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)

  • CF+21.32%
  • S32.LSE+12.98%
  • CTVA+11.44%
  • IP+10.08%
  • APD+7.53%
  • ALB-22.31%
  • AAL-17.00%
  • AI-12.55%
  • BOL.ST-11.12%
  • CRH-10.85%

MXI — constituent leadership race

$100 in each covered MXI constituent at 2026-01-06, rebased to 100. Watch leadership change hands.

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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 — 52 covered · click a column to sort

Symbol Weight Last 1d 5d 21d YTD RS rank
LIN Linde Plc 7.90% 512.28 +1.18% -0.18% -0.67% +20.55% 49
AI C3.Ai Inc Cl A 3.96% 8.15 +0.00% -7.60% -12.55% -39.54% 4
NEM Newmont Mining Corp 3.89% 93.19 -1.62% +3.89% -0.90% -6.26% 47
RIO Rio Tinto Plc ADR 3.65% 6869.00 +0.19% +2.13% -4.41% +17.72% 29
FCX Freeport-Mcmoran Inc 2.94% 62.60 -1.42% +7.23% +1.23% +23.83% 55
GLEN.LSE GLENCORE PLC 2.41% 537.30 -0.07% +3.99% +3.09% +32.18% 65
SHW Sherwin-Williams Company 2.35% 317.51 +2.24% -4.17% -4.69% -1.80% 25
CRH CRH Plc ADR 2.23% 99.87 +1.89% -2.96% -10.85% -19.40% 8
APD Air Products and Chemicals 2.13% 297.87 +1.22% +0.76% +7.53% +22.23% 90
ECL Ecolab Inc 2.10% 268.75 +2.13% -1.50% -2.73% +2.65% 39
AAL American Airlines Gp 1.97% 14.48 +6.75% -3.37% -17.00% -5.58% 2
CTVA Corteva Inc 1.75% 89.25 +0.53% +2.23% +11.44% +33.76% 94
NUE Nucor Corp 1.70% 247.56 +2.66% +4.63% +3.18% +52.29% 67
RIO Rio Tinto Plc ADR 1.58% 6869.00 +0.19% +2.13% -4.41% +17.72% 29
HOLN.SW HOLCIM LTD AG 1.52% 74.02 +0.30% -1.57% -2.40% -2.52% 41
VMC Vulcan Materials Company 1.14% 279.70 +1.73% -2.99% -8.98% -1.55% 12
K Kellanova 1.13% 83.44 +0.00% +0.35% +0.00%
MLM Martin Marietta Materials 1.07% 559.60 +2.33% -0.53% -9.25% -9.89% 10
STLD Steel Dynamics Inc 1.05% 247.11 +2.72% +4.93% +2.58% +46.28% 63
SIKA.XETRA SIKA AG 0.96% 167.60 +0.84% -2.67% -7.73% -1.83% 14
GIVN.SW GIVAUDAN SA 0.95% 3196.00 +0.60% -6.60% -5.78% +4.40% 18
DOW Dow Inc 0.85% 29.84 -3.43% -0.27% +1.57% +30.46% 59
HEI Heico Corp 0.83% 349.61 +2.66% +2.03% +4.31% +8.08% 73
PPG PPG Industries 0.79% 116.00 +1.98% -1.16% -4.12% +14.61% 35
DSFIR.SW DSM FIRMENICH AG 0.68% 75.95 +1.33% -4.35% +2.15% 61
ALB Albemarle Corp 0.66% 114.85 -1.76% -4.91% -22.31% -18.60% 0
SW Smurfit Westrock Plc 0.65% 48.56 +11.10% +9.62% +4.30% +28.13% 71
DD Dupont Denemours Inc 0.63% 137.70 +0.22% +1.78% -0.09% 51
IFF International Flavors & Fragrances 0.63% 75.94 +2.94% -2.89% +0.15% +13.35% 53
PKG Packaging Corp of America 0.63% 254.39 +8.76% +9.15% +6.95% +24.08% 86
CF Cf Industries Holdings 0.63% 125.07 -1.29% +3.01% +21.32% +63.24% 98
ANTO.LSE ANTOFAGASTA PLC 0.59% 3631.00 +0.28% +4.01% -4.27% +10.75% 33
LYB Lyondellbasell Industries NV 0.59% 60.32 -2.27% +1.94% +7.48% +42.47% 88
AMCR Amcor Plc 0.58% 44.54 +4.48% +1.37% +6.78% 82
IP International Paper Company 0.55% 42.16 +11.21% +12.25% +10.08% +9.71% 92
BOL.ST BOLIDEN 0.53% 481.40 +1.26% -4.56% -11.12% -4.45% 6
NHY.OL NORSK HYDRO 0.51% 86.14 -2.42% +1.39% -4.54% +13.34% 27
UPM.HE UPM-KYMMENE 0.51% 22.46 +1.03% -4.22% -5.23% -6.79% 22
BALL Ball Corporation 0.49% 63.84 +2.59% +1.80% +4.69% +21.32% 76
SCCO Southern Copper Corp 0.49% 179.29 -1.61% +3.95% +4.34% +28.52% 75
S32.LSE SOUTH32 LTD 0.44% 235.00 -1.51% +15.20% +12.98% +34.39% 96
AVY Avery Dennison Corp 0.41% 160.90 +3.67% +0.31% -1.38% -10.53% 43
AKZA.AS AKZO NOBEL NV 0.33% 57.86 +2.81% +0.49% -5.64% +0.70% 20
YAR.OL YARA INTERNATIONAL 0.31% 456.10 -1.32% +1.06% +6.07% +10.17% 80
STERV.HE STORA ENSO CLASS R 0.23% 9.38 +2.27% -4.01% -0.99% -11.22% 45
MOS Mosaic Company 0.23% 22.30 +0.09% +0.77% +6.90% -5.70% 84
SCA-B.ST SVENSKA CELLULOSA B 0.20% 104.80 +1.75% +1.75% +3.87% -12.11% 69
CRDA.LSE CRODA INTERNATIONAL PLC 0.18% 2932.00 +2.55% +0.14% -7.65% +11.13% 16
SYENS.BR SYENSQO NV 0.17% 71.05 +1.57% +3.95% +6.04% +6.51% 78
JMAT.LSE JOHNSON MATTHEY PLC 0.16% 1918.00 +1.37% +0.00% -5.05% -7.72% 24
AKE.PA ARKEMA SA 0.15% 55.80 +0.81% +0.09% -2.79% +13.57% 37
MNDI.LSE MONDI PLC 0.14% 729.40 +0.39% -3.01% +1.39% -19.29% 57

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.