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 | -1.63% | -1.08 | +0pp | +0.04pp | Confirming ↓ |
| 1 month | -1.48% | -0.29 | +32pp | +9.04pp | Confirming ↓ |
| 1 quarter | +10.69% | +0.16 | +23pp | +6.83pp | Confirming ↑ |
Over the last 126 sessions: price up +5.99%, breadth up (+1.43/name) · % beating 54→65 · median−ETF +0.32pp→+4.80pp.
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 2026-07-24.
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 | 6 (12%) | 12 (24%) | -6 |
| 1-Month | 4 (8%) | 6 (12%) | -2 |
| 3-Month | 2 (4%) | 2 (4%) | +0 |
| 6-Month | 0 (0%) | 1 (2%) | -1 |
| 52-Week | 0 (0%) | 1 (2%) | -1 |
| YTD | 0 (0%) | 1 (2%) | -1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.43% | +0.63% | +1.06pp | 30 / 19 | 34 / 15 | 14 of 49 | ±3.05% |
| 5d | -1.63% | -2.32% | -0.69pp | 14 / 35 | 20 / 29 | 11 of 49 | ±4.03% |
| 21d | -1.48% | +3.32% | +4.80pp | 28 / 21 | 32 / 17 | 5 of 49 | ±10.73% |
| YTD | +6.28% | +2.23% | -4.05pp | 25 / 22 | 17 / 30 | 2 of 47 | ±58.96% |
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)
- WDAY+5.84%+0.11pp
- ADBE+6.10%+0.11pp
- AAPL+3.53%+0.07pp
- VRSK+4.23%+0.06pp
- INTU+5.26%+0.06pp
- ARM-8.14%-0.41pp
- MU-6.99%-0.28pp
- STX-6.75%-0.26pp
- MPWR-4.53%-0.12pp
- LRCX-4.56%-0.11pp
This month (21d)
- PANW+13.51%+0.39pp
- DDOG+10.87%+0.36pp
- PAYX+17.91%+0.32pp
- AAPL+13.63%+0.29pp
- WDAY+14.61%+0.27pp
- ARM-27.59%-1.39pp
- STX-14.25%-0.54pp
- MU-12.17%-0.48pp
- LRCX-18.57%-0.46pp
- SNPS-19.50%-0.39pp
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)
- PAYX+17.91%
- WDAY+14.61%
- ADBE+14.52%
- ADP+13.75%
- AAPL+13.63%
- ARM-27.59%
- SNPS-19.50%
- LRCX-18.57%
- ISRG-16.01%
- APP-15.70%
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% | 260.01 | -8.14% | -2.69% | -27.59% | +137.86% | 0 |
| MU Micron Technology | 3.98% | 920.95 | -6.99% | +8.48% | -12.17% | +222.81% | 16 |
| STX Seagate Technology Holdings | 3.80% | 851.69 | -6.75% | +8.13% | -14.25% | +209.81% | 10 |
| DDOG Datadog Inc Cl A | 3.29% | 246.86 | +1.01% | -4.57% | +10.87% | +81.53% | 80 |
| FTNT Fortinet Inc | 3.10% | 152.37 | +0.55% | -5.72% | +4.88% | +91.88% | 57 |
| CRWD Crowdstrike Holdings | 2.97% | 183.28 | -0.08% | -9.75% | +8.93% | +56.40% | 71 |
| PANW Palo Alto Networks | 2.89% | 323.79 | -0.57% | -9.73% | +13.51% | +75.78% | 88 |
| MPWR Monolithic Power Sys | 2.61% | 1333.81 | -4.53% | +1.66% | -6.91% | +47.46% | 24 |
| LRCX Lam Research Corp | 2.49% | 305.21 | -4.56% | -2.58% | -18.57% | +78.64% | 4 |
| CDNS Cadence Design Sys | 2.45% | 326.24 | -1.28% | -1.17% | -12.40% | +4.37% | 14 |
| KLAC K L A-Tencor Corp | 2.40% | 210.52 | -3.75% | -1.05% | -12.46% | — | 12 |
| AVGO Broadcom Ltd | 2.28% | 381.92 | -2.69% | +2.99% | -0.04% | +10.58% | 41 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1757.09 | -2.55% | +0.54% | -0.32% | +64.81% | 39 |
| NVDA Nvidia Corp | 2.14% | 206.84 | -0.92% | +1.99% | +3.94% | +11.04% | 51 |
| APP Applovin Corp Cl A | 2.13% | 391.98 | -1.72% | -7.67% | -15.70% | -41.83% | 8 |
| AAPL Apple Inc | 2.12% | 333.02 | +3.53% | -0.22% | +13.63% | +22.61% | 90 |
| MNST Monster Beverage Corp | 2.03% | 93.49 | -0.07% | -4.11% | -1.28% | +21.94% | 35 |
| SNPS Synopsys Inc | 1.99% | 373.47 | -0.01% | -2.81% | -19.50% | -20.49% | 2 |
| MSFT Microsoft Corp | 1.89% | 381.70 | +0.03% | -3.08% | +4.44% | -20.89% | 53 |
| ADP Automatic Data Processing | 1.87% | 250.09 | +2.97% | -2.03% | +13.75% | -1.97% | 92 |
| ROST Ross Stores Inc | 1.86% | 238.89 | +2.80% | +2.33% | +4.51% | +32.90% | 55 |
| WDAY Workday Inc | 1.84% | 135.34 | +5.84% | -6.52% | +14.61% | -36.99% | 96 |
| DXCM Dexcom Inc | 1.83% | 71.54 | +1.50% | -6.67% | +2.57% | +7.79% | 47 |
| PAYX Paychex Inc | 1.81% | 113.55 | +2.61% | -0.73% | +17.91% | +2.27% | 98 |
| META META Platforms Inc | 1.78% | 595.19 | -1.80% | -7.87% | +6.73% | -9.75% | 61 |
| ADBE Adobe Systems Inc | 1.76% | 225.11 | +6.10% | -5.12% | +14.52% | -35.68% | 94 |
| ABNB Airbnb Inc Cl A | 1.76% | 141.10 | +2.57% | -3.34% | -2.29% | +3.96% | 31 |
| AXON Axon Enterprise | 1.75% | 502.34 | +2.12% | -1.56% | +9.99% | -11.55% | 76 |
| DASH Doordash Inc Cl A | 1.72% | 172.91 | +1.85% | -6.10% | -2.82% | -23.65% | 27 |
| EA Electronic Arts Inc | 1.71% | 209.06 | +0.03% | +0.08% | +2.22% | +2.41% | 45 |
| MELI Mercadolibre Inc | 1.69% | 1801.44 | +0.15% | -0.69% | +8.55% | -10.57% | 67 |
| AMGN Amgen Inc | 1.68% | 376.04 | +1.22% | +2.66% | +7.00% | +15.68% | 63 |
| IDXX Idexx Laboratories | 1.65% | 544.32 | +0.92% | -4.07% | -0.88% | -19.54% | 37 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 271.77 | +1.13% | +1.61% | -7.58% | -31.66% | 18 |
| VRTX Vertex Pharmaceutic | 1.64% | 477.36 | +0.90% | -1.71% | +0.45% | +5.29% | 43 |
| BKNG Booking Holdings | 1.63% | 177.46 | +2.68% | -2.32% | -2.09% | — | 33 |
| PLTR Palantir Technologies Cl A | 1.59% | 122.92 | -0.36% | -7.15% | +8.30% | -30.85% | 65 |
| GILD Gilead Sciences Inc | 1.59% | 129.31 | -1.18% | -3.70% | +3.32% | +5.95% | 49 |
| ADSK Autodesk Inc | 1.59% | 209.75 | +2.19% | -3.94% | +8.90% | -29.14% | 69 |
| ROP Roper Industries | 1.58% | 367.34 | +3.44% | +1.16% | +10.78% | -17.10% | 78 |
| PDD Pdd Holdings Inc | 1.51% | 82.66 | -0.77% | -1.76% | +9.14% | -27.10% | 73 |
| VRSK Verisk Analytics Inc | 1.51% | 201.34 | +4.23% | +0.33% | +11.82% | -9.76% | 82 |
| ZS Zscaler Inc | 1.51% | 142.32 | +1.88% | -5.08% | +11.83% | -36.72% | 84 |
| NFLX Netflix Inc | 1.50% | 70.09 | +1.74% | +1.65% | -2.44% | -25.25% | 29 |
| ISRG Intuitive Surg Inc | 1.48% | 337.50 | +1.65% | -2.29% | -16.01% | -40.41% | 6 |
| REGN Regeneron Pharmaceuticals | 1.45% | 656.01 | +0.63% | -3.06% | +5.23% | -14.91% | 59 |
| INTU Intuit Inc | 1.12% | 296.33 | +5.26% | +1.80% | +13.00% | -55.04% | 86 |
| GOOGL Alphabet Cl A | 1.04% | 319.74 | +0.65% | -7.79% | -7.40% | +2.23% | 22 |
| GOOG Alphabet Cl C | 1.04% | 319.09 | +0.24% | -7.81% | -7.52% | +1.76% | 20 |
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.