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 | -1.74% | -0.93 | +17pp | +2.95pp | Confirming ↓ |
| 1 month | -8.02% | -2.71 | +28pp | +7.53pp | Confirming ↓ |
| 1 quarter | +2.04% | -0.92 | +7pp | +1.28pp | Weakening |
Over the last 126 sessions: price up +8.14%, breadth down (-1.22/name) · % beating 54→64 · median−ETF +0.68pp→+2.07pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.75% | -1.08% | -0.33pp | 7 / 50 | 21 / 38 | 36 of 59 | ±1.17% |
| 5d | -1.74% | -1.31% | +0.43pp | 18 / 41 | 31 / 28 | 9 of 59 | ±3.3% |
| 21d | -8.02% | -6.33% | +1.69pp | 10 / 48 | 36 / 22 | 7 of 58 | ±6.18% |
| YTD | +13.92% | +10.16% | -3.76pp | 41 / 15 | 25 / 32 | 1 of 57 | ±19.75% |
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)
- DSFIR.SW+2.83%+0.02pp
- BHP+0.16%+0.01pp
- NUE+0.40%+0.01pp
- STLD+0.39%+0pp
- S32.LSE+0.62%+0pp
- NEM-1.82%-0.07pp
- RIO-1.79%-0.07pp
- SHW-1.86%-0.04pp
- VALE-1.88%-0.04pp
- AI-0.92%-0.04pp
This month (21d)
- AI+9.91%+0.39pp
- UPM.HE+7.66%+0.04pp
- DSFIR.SW+5.41%+0.04pp
- SCA-B.ST+9.87%+0.02pp
- STLD+1.78%+0.02pp
- BHP-11.90%-0.84pp
- NEM-10.05%-0.39pp
- AEM-13.30%-0.39pp
- RIO-8.54%-0.31pp
- FCX-9.80%-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)
- AI+9.91%
- SCA-B.ST+9.87%
- UPM.HE+7.66%
- STERV.HE+6.03%
- DSFIR.SW+5.41%
- ALB-18.72%
- SQM-15.26%
- IP-14.91%
- AEM-13.30%
- HEI-12.74%
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 — 59 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 7.90% | 468.14 | -0.34% | +2.11% | -3.60% | +10.16% | 71 |
| BHP Bhp Billiton Ltd ADR | 7.04% | 85.09 | +0.16% | -1.70% | -11.90% | +43.72% | 12 |
| AI C3.Ai Inc Cl A | 3.96% | 10.76 | -0.92% | -0.19% | +9.91% | -20.18% | 98 |
| NEM Newmont Mining Corp | 3.89% | 121.30 | -1.82% | -2.48% | -10.05% | +22.01% | 24 |
| RIO Rio Tinto Plc ADR | 3.65% | 7070.00 | -1.79% | -3.51% | -8.54% | +21.17% | 33 |
| FCX Freeport-Mcmoran Inc | 2.94% | 72.08 | -0.69% | +1.74% | -9.80% | +42.58% | 26 |
| AEM Agnico-Eagle Mines Ltd | 2.93% | 193.88 | -0.86% | -3.72% | -13.30% | +15.11% | 5 |
| GLEN.LSE GLENCORE PLC | 2.41% | 549.00 | -0.63% | -5.38% | -7.86% | +35.05% | 38 |
| SHW Sherwin-Williams Company | 2.35% | 320.40 | -1.86% | -0.17% | -8.57% | -0.90% | 31 |
| CRH CRH Plc ADR | 2.23% | 83.96 | -1.49% | -3.16% | -12.72% | -32.24% | 9 |
| APD Air Products and Chemicals | 2.13% | 284.49 | -0.86% | -0.57% | -6.37% | +16.74% | 48 |
| ECL Ecolab Inc | 2.10% | 275.37 | -0.49% | +1.36% | -4.89% | +5.18% | 55 |
| AAL American Airlines Gp | 1.97% | 13.35 | +0.00% | +3.17% | -4.30% | -12.92% | 60 |
| VALE Vale S.A. ADR | 1.94% | 13.56 | -1.88% | -6.29% | -11.55% | +7.04% | 16 |
| WPM Wheaton Precious Metals | 1.90% | 143.88 | -1.08% | -5.47% | -12.12% | +22.97% | 10 |
| CTVA Corteva Inc | 1.75% | 79.45 | -1.21% | -2.55% | -4.13% | +19.07% | 64 |
| NUE Nucor Corp | 1.70% | 247.96 | +0.40% | -6.48% | +0.17% | +52.54% | 83 |
| RIO Rio Tinto Plc ADR | 1.58% | 7070.00 | -1.79% | -3.51% | -8.54% | +21.17% | 33 |
| HOLN.SW HOLCIM LTD AG | 1.52% | 66.32 | -2.04% | -2.81% | -10.14% | -12.66% | 22 |
| FNV Franco Nev Corp | 1.43% | 259.89 | -0.39% | -2.52% | -4.37% | +25.85% | 59 |
| VMC Vulcan Materials Company | 1.14% | 241.70 | -1.10% | -1.15% | -11.82% | -14.93% | 14 |
| K Kellanova | 1.13% | 83.44 | +0.00% | +0.35% | — | +0.00% | — |
| NTR Nutrien Ltd | 1.11% | 73.96 | -1.56% | -6.28% | +1.54% | +21.79% | 86 |
| MLM Martin Marietta Materials | 1.07% | 480.10 | -2.11% | -2.90% | -9.57% | -22.69% | 29 |
| STLD Steel Dynamics Inc | 1.05% | 235.20 | +0.39% | -4.14% | +1.78% | +39.23% | 88 |
| SIKA.XETRA SIKA AG | 0.96% | 192.30 | -2.14% | -1.31% | -6.29% | +12.64% | 50 |
| GIVN.SW GIVAUDAN SA | 0.95% | 3406.00 | -0.38% | +4.16% | +0.98% | +11.26% | 84 |
| DOW Dow Inc | 0.85% | 28.56 | -0.31% | -3.15% | -4.21% | +24.86% | 62 |
| HEI Heico Corp | 0.83% | 306.33 | -1.37% | +3.32% | -12.74% | -5.30% | 7 |
| PPG PPG Industries | 0.79% | 106.32 | -0.82% | +0.83% | -6.45% | +5.04% | 47 |
| DSFIR.SW DSM FIRMENICH AG | 0.68% | 92.55 | +2.83% | +5.53% | +5.41% | — | 91 |
| ALB Albemarle Corp | 0.66% | 108.25 | -4.60% | -5.91% | -18.72% | -23.28% | 0 |
| SW Smurfit Westrock Plc | 0.65% | 46.00 | -1.05% | +1.14% | -6.94% | +21.38% | 43 |
| DD Dupont Denemours Inc | 0.63% | 130.22 | -0.50% | +1.37% | -3.86% | +8.84% | 66 |
| IFF International Flavors & Fragrances | 0.63% | 85.85 | +0.16% | +1.59% | -1.50% | +28.15% | 81 |
| PKG Packaging Corp of America | 0.63% | 238.11 | -1.19% | +1.08% | -3.42% | +16.14% | 72 |
| CF Cf Industries Holdings | 0.63% | 118.44 | -1.82% | -11.49% | -6.93% | +54.59% | 45 |
| ANTO.LSE ANTOFAGASTA PLC | 0.59% | 3718.00 | -0.75% | +0.43% | -7.25% | +13.40% | 41 |
| LYB Lyondellbasell Industries NV | 0.59% | 60.18 | +0.35% | -6.33% | -3.79% | +42.14% | 69 |
| AMCR Amcor Plc | 0.58% | 42.10 | -1.64% | -0.66% | -9.66% | — | 28 |
| IP International Paper Company | 0.55% | 34.88 | -2.30% | -1.88% | -14.91% | -9.23% | 3 |
| BOL.ST BOLIDEN | 0.53% | 518.00 | -2.01% | -3.97% | -11.21% | +2.81% | 19 |
| NHY.OL NORSK HYDRO | 0.51% | 82.96 | -1.64% | -4.14% | -10.56% | +9.16% | 21 |
| UPM.HE UPM-KYMMENE | 0.51% | 25.58 | -1.31% | -3.11% | +7.66% | +6.15% | 95 |
| BALL Ball Corporation | 0.49% | 56.66 | -3.67% | -6.73% | -11.30% | +7.68% | 17 |
| SCCO Southern Copper Corp | 0.49% | 201.58 | -0.18% | +2.79% | -8.25% | +44.50% | 36 |
| S32.LSE SOUTH32 LTD | 0.44% | 259.60 | +0.62% | -0.08% | -3.85% | +48.46% | 67 |
| AVY Avery Dennison Corp | 0.41% | 169.01 | -2.11% | -1.22% | -5.53% | -6.02% | 52 |
| SQM Sociedad Quimica Y Minera S.A. ADR | 0.37% | 67.12 | -2.84% | -6.52% | -15.26% | -1.73% | 2 |
| AKZA.AS AKZO NOBEL NV | 0.33% | 56.46 | -1.02% | -0.07% | -7.78% | -1.73% | 40 |
| YAR.OL YARA INTERNATIONAL | 0.31% | 443.20 | -2.93% | -3.80% | -2.91% | +7.05% | 76 |
| STERV.HE STORA ENSO CLASS R | 0.23% | 10.51 | -0.85% | -0.10% | +6.03% | -0.52% | 93 |
| MOS Mosaic Company | 0.23% | 23.69 | -2.79% | -6.70% | -2.39% | +0.18% | 78 |
| SCA-B.ST SVENSKA CELLULOSA B | 0.20% | 123.00 | -1.44% | +1.65% | +9.87% | +3.16% | 97 |
| CRDA.LSE CRODA INTERNATIONAL PLC | 0.18% | 3227.00 | -0.74% | +0.59% | -5.34% | +22.31% | 53 |
| SYENS.BR SYENSQO NV | 0.17% | 78.55 | -0.25% | +0.45% | -1.81% | +17.75% | 79 |
| JMAT.LSE JOHNSON MATTHEY PLC | 0.16% | 2338.00 | -0.34% | -1.27% | +4.47% | +0.76% | 90 |
| AKE.PA ARKEMA SA | 0.15% | 56.70 | -1.39% | -0.61% | -3.08% | +15.40% | 74 |
| MNDI.LSE MONDI PLC | 0.14% | 814.60 | -3.02% | -4.57% | -4.61% | -9.86% | 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.
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 2026-09-24: over 21 sessions the fund returned -8.02% while its median constituent returned -6.33% — a dispersion of 6.18 pp; 62% of 58 members beat the fund. Broad decline - breadth is falling with price.
How did MXI's members trade in the last session?
As of 2026-09-24: fund -0.75%, median member -1.08%, 7 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. 59 constituents covered, re-baked nightly from the Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.