Constituent dispersion · breadth vs the index
MXI — Global Materials
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 | -1.79% | -0.38 | +13pp | +6.69pp | Confirming ↓ |
| 1 month | -2.38% | +0.27 | +1pp | +4.18pp | Improving |
| 1 quarter | -5.03% | -2.27 | -4pp | +2.31pp | Confirming ↓ |
Over the last 126 sessions: price down -4.79%, breadth down (-1.85/name) · % beating 47→59 · median−ETF -1.62pp→+4.76pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.79% | -1.48% | +0.30pp | 8 / 50 | 37 / 23 | 33 of 60 | ±1.92% |
| 5d | -1.79% | -0.68% | +1.11pp | 28 / 32 | 35 / 25 | 9 of 60 | ±5.04% |
| 21d | -2.38% | +2.38% | +4.76pp | 32 / 27 | 35 / 24 | 2 of 59 | ±11.3% |
| YTD | +10.98% | +7.27% | -3.70pp | 38 / 18 | 26 / 30 | 0 of 56 | ±21.94% |
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)
- DD+8.61%+0.05pp
- STERV.HE+0.92%+0pp
- SCA-B.ST+0.92%+0pp
- HOLN.SW+0.11%+0pp
- GGB+0.43%+0pp
- BHP-2.42%-0.17pp
- LIN-1.57%-0.12pp
- SHW-3.26%-0.08pp
- CRH-3.17%-0.07pp
- RIO-1.90%-0.07pp
This month (21d)
- LIN+6.05%+0.48pp
- CRH+13.16%+0.29pp
- APD+11.99%+0.26pp
- ECL+9.96%+0.21pp
- VMC+15.89%+0.18pp
- BHP-10.02%-0.71pp
- RIO-15.38%-0.56pp
- VALE-22.40%-0.43pp
- FCX-14.73%-0.43pp
- NEM-7.21%-0.28pp
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)
- DOW+18.52%
- DD+17.42%
- GIVN.SW+16.83%
- VMC+15.89%
- PPG+15.17%
- VALE-22.40%
- NHY.OL-19.46%
- SQM-18.41%
- ANTO.LSE-18.24%
- SCCO-15.49%
MXI — constituent leadership race
$100 in each covered MXI constituent at 2026-01-06, 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 — 60 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 7.90% | 511.55 | -1.57% | +0.57% | +6.05% | +20.38% | 61 |
| BHP Bhp Billiton Ltd ADR | 7.04% | 78.13 | -2.42% | -5.41% | -10.02% | +31.97% | 22 |
| AI C3.Ai Inc Cl A | 3.96% | 11.54 | -0.09% | -6.10% | +4.06% | -14.39% | 56 |
| NEM Newmont Mining Corp | 3.89% | 107.47 | -1.49% | -4.59% | -7.21% | +8.10% | 29 |
| RIO Rio Tinto Plc ADR | 3.65% | 6078.00 | -1.90% | -5.03% | -15.38% | +4.17% | 8 |
| FCX Freeport-Mcmoran Inc | 2.94% | 61.77 | -1.91% | -6.34% | -14.73% | +22.19% | 12 |
| AEM Agnico-Eagle Mines Ltd | 2.93% | 167.28 | -1.84% | -7.43% | -8.75% | -0.69% | 27 |
| GLEN.LSE GLENCORE PLC | 2.41% | 504.30 | -2.83% | -6.92% | -11.42% | +24.06% | 20 |
| SHW Sherwin-Williams Company | 2.35% | 340.87 | -3.26% | +4.56% | +7.04% | +5.43% | 64 |
| CRH CRH Plc ADR | 2.23% | 93.53 | -3.17% | +9.05% | +13.16% | -24.52% | 90 |
| APD Air Products and Chemicals | 2.13% | 312.97 | -0.97% | +1.91% | +11.99% | +28.42% | 85 |
| ECL Ecolab Inc | 2.10% | 304.68 | -1.20% | +4.60% | +9.96% | +16.37% | 73 |
| AAL American Airlines Gp | 1.97% | 12.82 | -1.99% | +1.67% | -0.08% | -16.37% | 44 |
| VALE Vale S.A. ADR | 1.94% | 10.98 | -3.17% | -7.26% | -22.40% | -13.33% | 0 |
| WPM Wheaton Precious Metals | 1.90% | 117.42 | -1.45% | -6.75% | -13.83% | +0.36% | 15 |
| CTVA Corteva Inc | 1.75% | 11.88 | -0.34% | +2.15% | -4.12% | — | 36 |
| NUE Nucor Corp | 1.70% | 273.53 | -1.48% | +1.01% | +8.80% | +68.27% | 66 |
| RIO Rio Tinto Plc ADR | 1.58% | 6078.00 | -1.90% | -5.03% | -15.38% | +4.17% | 8 |
| HOLN.SW HOLCIM LTD AG | 1.52% | 71.18 | +0.11% | +4.58% | +9.61% | -6.26% | 71 |
| FNV Franco Nev Corp | 1.43% | 225.99 | -1.43% | -4.40% | -6.14% | +9.44% | 32 |
| VMC Vulcan Materials Company | 1.14% | 284.60 | -1.57% | +8.42% | +15.89% | +0.17% | 93 |
| K Kellanova | 1.13% | 83.44 | +0.00% | +0.35% | — | — | — |
| NTR Nutrien Ltd | 1.11% | 69.32 | -1.25% | -0.07% | -1.34% | +14.15% | 42 |
| MLM Martin Marietta Materials | 1.07% | 543.77 | -1.53% | +7.96% | +12.00% | -12.44% | 86 |
| STLD Steel Dynamics Inc | 1.05% | 247.66 | -1.69% | +0.35% | +2.75% | +46.61% | 51 |
| SIKA.XETRA SIKA AG | 0.96% | 199.00 | -1.39% | +5.12% | +5.74% | +16.57% | 58 |
| GIVN.SW GIVAUDAN SA | 0.95% | 3950.00 | -1.25% | +0.15% | +16.83% | +29.03% | 95 |
| DOW Dow Inc | 0.85% | 33.79 | -1.14% | +0.03% | +18.52% | +47.72% | 98 |
| HEI Heico Corp | 0.83% | 337.72 | +0.04% | +9.35% | +11.99% | +4.40% | 83 |
| PPG PPG Industries | 0.79% | 121.24 | -2.92% | +6.88% | +15.17% | +19.79% | 92 |
| DSFIR.SW DSM FIRMENICH AG | 0.68% | 96.90 | -2.17% | -3.96% | +6.60% | — | 63 |
| ALB Albemarle Corp | 0.66% | 90.19 | -0.41% | -8.86% | -13.59% | -36.08% | 17 |
| SW Smurfit Westrock Plc | 0.65% | 43.42 | +0.05% | +2.07% | +2.38% | +14.57% | 49 |
| DD Dupont Denemours Inc | 0.63% | 153.46 | +8.61% | +11.47% | +17.42% | +28.26% | 97 |
| IFF International Flavors & Fragrances | 0.63% | 92.18 | -2.59% | -1.11% | +10.71% | +37.59% | 78 |
| PKG Packaging Corp of America | 0.63% | 254.95 | -1.43% | +0.77% | +11.18% | +24.35% | 80 |
| CF Cf Industries Holdings | 0.63% | 116.81 | -2.93% | -3.09% | +0.68% | +52.46% | 46 |
| ANTO.LSE ANTOFAGASTA PLC | 0.59% | 3138.00 | -3.54% | -5.23% | -18.24% | -4.29% | 5 |
| LYB Lyondellbasell Industries NV | 0.59% | 66.09 | -1.18% | -1.99% | +11.60% | +56.10% | 81 |
| AMCR Amcor Plc | 0.58% | 46.96 | -4.20% | +2.22% | +12.34% | — | 88 |
| IP International Paper Company | 0.55% | 35.12 | -4.15% | +5.21% | +9.58% | -8.61% | 69 |
| BOL.ST BOLIDEN | 0.53% | 498.80 | -3.33% | -1.73% | -4.81% | -1.00% | 34 |
| NHY.OL NORSK HYDRO | 0.51% | 65.32 | -1.00% | -4.92% | -19.46% | -14.05% | 2 |
| UPM.HE UPM-KYMMENE | 0.51% | 21.90 | -2.17% | -7.95% | -9.67% | -9.14% | 25 |
| BALL Ball Corporation | 0.49% | 63.21 | -7.14% | -1.39% | +10.68% | +20.13% | 76 |
| SCCO Southern Copper Corp | 0.49% | 173.49 | -1.53% | -9.16% | -15.49% | +24.36% | 7 |
| S32.LSE SOUTH32 LTD | 0.44% | 223.40 | -2.27% | -3.46% | -14.41% | +27.76% | 14 |
| AVY Avery Dennison Corp | 0.41% | 185.38 | -0.87% | +2.02% | +9.05% | +3.09% | 68 |
| SQM Sociedad Quimica Y Minera S.A. ADR | 0.37% | 53.71 | -1.76% | -10.93% | -18.41% | -21.37% | 3 |
| AKZA.AS AKZO NOBEL NV | 0.33% | 61.16 | -1.26% | +3.94% | +5.96% | +6.45% | 59 |
| YAR.OL YARA INTERNATIONAL | 0.31% | 387.70 | -1.87% | -2.59% | -6.28% | -6.35% | 31 |
| STERV.HE STORA ENSO CLASS R | 0.23% | 9.48 | +0.92% | -4.38% | -3.83% | -10.23% | 37 |
| MOS Mosaic Company | 0.23% | 18.42 | -3.21% | -1.97% | -13.48% | -22.11% | 19 |
| SCA-B.ST SVENSKA CELLULOSA B | 0.20% | 121.15 | +0.92% | -2.77% | +2.76% | +1.60% | 53 |
| GGB Gerdau S.A. ADR | 0.20% | 4.66 | +0.43% | +0.22% | -9.86% | +29.28% | 24 |
| CRDA.LSE CRODA INTERNATIONAL PLC | 0.18% | 3636.00 | -0.87% | +0.22% | +10.42% | +37.81% | 75 |
| SYENS.BR SYENSQO NV | 0.17% | 76.80 | +0.00% | -0.45% | -3.09% | +15.12% | 39 |
| JMAT.LSE JOHNSON MATTHEY PLC | 0.16% | 2430.00 | +0.41% | -1.46% | +1.00% | +4.73% | 47 |
| AKE.PA ARKEMA SA | 0.15% | 56.50 | -0.62% | +2.36% | +3.86% | +15.00% | 54 |
| MNDI.LSE MONDI PLC | 0.14% | 770.00 | -0.16% | -0.90% | -1.64% | -14.79% | 41 |
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
MXI dispersion — data Q&A
Is MXI's move broad or carried by a few names (21 sessions)?
As of 2026-11-04: over 21 sessions the fund returned -2.38% while its median constituent returned +2.38% — a dispersion of 11.30 pp; 59% of 59 members beat the fund. Improving below the surface - the A/D line is rising while price is flat-to-down; more names participating than the headline shows.
How did MXI's members trade in the last session?
As of 2026-11-04: fund -1.79%, median member -1.48%, 8 advancers vs 50 decliners.
What does the dispersion page for MXI 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. 60 constituents covered, re-baked nightly from the Closelooknet lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.