Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | -4.17% | -0.45 | +6pp | +1.79pp | Confirming ↓ |
| 1 month | +1.30% | +0.39 | -10pp | -2.38pp | Confirming ↑ |
| 1 quarter | +0.99% | -0.18 | -13pp | -6.52pp | Weakening |
Over the last 126 sessions: price up +16.74%, breadth up (+2.37/name) · % beating 44→50 · median−ETF -1.80pp→-0.22pp.
Stocks above their moving average — participation breadth
Of the 49 covered constituents, the share trading above each simple moving average — the classic breadth gauge. A firm index price with a low %-above-MA is a narrow, top-heavy tape. As of 2026-10-14.
New highs & new lows — by horizon
How many of the 49 covered constituents closed today at a new high (or low) over each window, and the net. A shrinking net as the index holds up = fewer names leading.
| Horizon | New highs | New lows | Net |
|---|---|---|---|
| 5-Day | 15 (31%) | 23 (47%) | -8 |
| 1-Month | 4 (8%) | 4 (8%) | +0 |
| 3-Month | 2 (4%) | 2 (4%) | +0 |
| 6-Month | 2 (4%) | 1 (2%) | +1 |
| 52-Week | 1 (2%) | 1 (2%) | +0 |
| YTD | 1 (2%) | 1 (2%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -2.22% | -1.42% | +0.80pp | 20 / 28 | 30 / 19 | 10 of 49 | ±2.88% |
| 5d | -4.18% | +0.05% | +4.23pp | 26 / 23 | 35 / 14 | 2 of 49 | ±6.23% |
| 21d | +1.30% | +1.37% | +0.07pp | 30 / 19 | 25 / 24 | 8 of 49 | ±8.66% |
| YTD | +10.98% | +9.92% | -1.07pp | 31 / 17 | 22 / 26 | 3 of 48 | ±56.18% |
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)
- GILD+3.80%+0.06pp
- AMGN+3.21%+0.05pp
- REGN+3.35%+0.05pp
- VRTX+2.74%+0.04pp
- MNST+2.10%+0.04pp
- ARM-6.81%-0.34pp
- STX-4.50%-0.17pp
- DDOG-4.94%-0.16pp
- MU-4.08%-0.16pp
- PANW-5.54%-0.16pp
This month (21d)
- SNPS+30.52%+0.61pp
- DDOG+16.96%+0.56pp
- CDNS+20.26%+0.5pp
- PLTR+16.46%+0.26pp
- MPWR+8.81%+0.23pp
- APP-20.90%-0.45pp
- STX-7.48%-0.28pp
- PAYX-8.39%-0.15pp
- NFLX-9.41%-0.14pp
- AXON-7.61%-0.13pp
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)
- SNPS+30.52%
- CDNS+20.26%
- DDOG+16.96%
- PLTR+16.46%
- ZS+13.87%
- APP-20.90%
- NFLX-9.41%
- PAYX-8.39%
- AXON-7.61%
- STX-7.48%
QQEW — constituent leadership race
$100 in each covered QQEW constituent at 2025-12-30, 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 238.01 | -6.81% | -19.15% | -1.58% | +117.74% | 27 |
| MU Micron Technology | 3.98% | 914.13 | -4.08% | -15.97% | -1.45% | +220.42% | 29 |
| STX Seagate Technology Holdings | 3.80% | 713.54 | -4.50% | -11.64% | -7.48% | +159.55% | 8 |
| DDOG Datadog Inc Cl A | 3.29% | 269.33 | -4.94% | -0.74% | +16.96% | +98.05% | 94 |
| FTNT Fortinet Inc | 3.10% | 184.05 | -3.52% | -2.76% | +6.78% | +131.77% | 78 |
| CRWD Crowdstrike Holdings | 2.97% | 249.29 | -4.56% | -6.08% | +2.80% | +112.72% | 59 |
| PANW Palo Alto Networks | 2.89% | 375.04 | -5.54% | -7.53% | -0.01% | +103.60% | 37 |
| MPWR Monolithic Power Sys | 2.61% | 1243.11 | -5.79% | -12.82% | +8.81% | +37.43% | 82 |
| LRCX Lam Research Corp | 2.49% | 286.92 | -4.71% | -12.93% | +6.04% | +67.93% | 73 |
| CDNS Cadence Design Sys | 2.45% | 329.46 | -1.42% | -7.49% | +20.26% | +5.40% | 96 |
| KLAC K L A-Tencor Corp | 2.40% | 178.81 | -2.82% | -9.16% | +6.42% | +47.71% | 76 |
| AVGO Broadcom Ltd | 2.28% | 346.25 | -3.10% | -8.04% | +2.24% | +0.25% | 55 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1650.00 | -3.94% | -8.59% | +3.68% | +54.77% | 65 |
| NVDA Nvidia Corp | 2.14% | 221.30 | -3.16% | -6.81% | +4.30% | +18.80% | 67 |
| APP Applovin Corp Cl A | 2.13% | 262.19 | -3.71% | -6.79% | -20.90% | -61.09% | 0 |
| AAPL Apple Inc | 2.12% | 342.96 | +0.50% | +1.87% | +3.51% | +26.27% | 61 |
| MNST Monster Beverage Corp | 2.03% | 44.22 | +2.10% | +3.13% | -0.92% | +15.35% | 33 |
| SNPS Synopsys Inc | 1.99% | 479.93 | -2.95% | -4.52% | +30.52% | +2.17% | 98 |
| MSFT Microsoft Corp | 1.89% | 533.69 | -1.80% | +0.74% | +7.36% | +10.61% | 80 |
| ADP Automatic Data Processing | 1.87% | 280.32 | +1.60% | +6.18% | +1.37% | +9.88% | 49 |
| ROST Ross Stores Inc | 1.86% | 230.57 | +2.17% | +2.23% | +1.90% | +28.27% | 51 |
| WDAY Workday Inc | 1.84% | 188.77 | +1.48% | +2.45% | -1.00% | -12.11% | 31 |
| DXCM Dexcom Inc | 1.83% | 83.47 | -1.87% | -0.98% | -3.45% | +25.76% | 20 |
| PAYX Paychex Inc | 1.81% | 108.37 | +2.00% | +6.72% | -8.39% | -2.39% | 4 |
| META META Platforms Inc | 1.78% | 737.54 | -3.27% | +2.25% | +10.13% | +11.83% | 84 |
| ADBE Adobe Systems Inc | 1.76% | 240.68 | +1.86% | +3.40% | -6.63% | -31.23% | 12 |
| ABNB Airbnb Inc Cl A | 1.76% | 167.06 | +0.89% | +4.00% | -0.75% | +23.09% | 35 |
| AXON Axon Enterprise | 1.75% | 408.42 | -1.19% | +0.60% | -7.61% | -28.09% | 6 |
| DASH Doordash Inc Cl A | 1.72% | 184.01 | -4.70% | -3.78% | -7.19% | -18.75% | 10 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 57 |
| MELI Mercadolibre Inc | 1.69% | 1839.11 | -1.97% | -1.80% | +0.56% | -8.70% | 43 |
| AMGN Amgen Inc | 1.68% | 426.11 | +3.21% | +3.15% | +13.43% | +31.09% | 88 |
| IDXX Idexx Laboratories | 1.65% | 529.01 | +1.67% | +4.41% | +3.58% | -21.81% | 63 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 224.47 | +0.29% | +0.03% | -5.79% | -43.55% | 16 |
| VRTX Vertex Pharmaceutic | 1.64% | 498.50 | +2.74% | -1.41% | -3.13% | +9.96% | 22 |
| BKNG Booking Holdings | 1.63% | 160.68 | +2.01% | +3.09% | -6.21% | — | 14 |
| PLTR Palantir Technologies Cl A | 1.59% | 200.97 | -3.69% | +3.53% | +16.46% | +13.06% | 92 |
| GILD Gilead Sciences Inc | 1.59% | 153.54 | +3.80% | +4.56% | +4.95% | +25.80% | 71 |
| ADSK Autodesk Inc | 1.59% | 231.14 | +0.31% | -1.66% | +2.05% | -21.91% | 53 |
| ROP Roper Industries | 1.58% | 372.69 | +1.16% | +3.94% | -2.93% | -15.89% | 24 |
| PDD Pdd Holdings Inc | 1.51% | 81.45 | -0.62% | +3.76% | +4.32% | -28.17% | 69 |
| VRSK Verisk Analytics Inc | 1.51% | 180.58 | +2.22% | +7.05% | +0.28% | -19.07% | 39 |
| ZS Zscaler Inc | 1.51% | 220.79 | -3.44% | +3.39% | +13.87% | -1.84% | 90 |
| NFLX Netflix Inc | 1.50% | 70.57 | +0.16% | +1.25% | -9.41% | -24.73% | 2 |
| ISRG Intuitive Surg Inc | 1.48% | 420.24 | -0.43% | +1.38% | +11.42% | -25.80% | 86 |
| REGN Regeneron Pharmaceuticals | 1.45% | 778.36 | +3.35% | +4.88% | +0.55% | +0.96% | 41 |
| INTU Intuit Inc | 1.12% | 310.44 | +2.98% | +4.93% | -5.72% | -52.90% | 18 |
| GOOGL Alphabet Cl A | 1.04% | 347.64 | -1.74% | -0.82% | +0.77% | +11.15% | 47 |
| GOOG Alphabet Cl C | 1.04% | 343.65 | -1.68% | -1.07% | +0.65% | +9.59% | 45 |
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
QQEW dispersion — data Q&A
Is QQEW's move broad or carried by a few names (21 sessions)?
As of 2026-10-14: over 21 sessions the fund returned +1.30% while its median constituent returned +1.37% — a dispersion of 8.66 pp; 51% of 49 members beat the fund. Broad advance - breadth is rising with price.
How did QQEW's members trade in the last session?
As of 2026-10-14: fund -2.22%, median member -1.42%, 20 advancers vs 28 decliners.
What does the dispersion page for QQEW 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. 49 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.