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 | +2.00% | +1.41 | +16pp | +4.98pp | Confirming ↑ |
| 1 month | -1.88% | -0.24 | +24pp | +13.83pp | Confirming ↓ |
| 1 quarter | +23.50% | +3.82 | -1pp | +0.48pp | Confirming ↑ |
Over the last 126 sessions: price up +10.91%, breadth up (+2.84/name) · % beating 48→53 · median−ETF -0.23pp→+1.40pp.
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 2026-07-02.
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 | 27 (55%) | 9 (18%) | +18 |
| 1-Month | 15 (31%) | 3 (6%) | +12 |
| 3-Month | 8 (17%) | 0 (0%) | +8 |
| 6-Month | 2 (4%) | 0 (0%) | +2 |
| 52-Week | 2 (4%) | 0 (0%) | +2 |
| YTD | 2 (4%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.97% | +0.72% | +1.70pp | 29 / 20 | 33 / 16 | 9 of 49 | ±4.23% |
| 5d | +2.00% | +6.22% | +4.22pp | 37 / 11 | 33 / 15 | 2 of 48 | ±10.31% |
| 21d | -1.88% | +0.40% | +2.28pp | 24 / 24 | 26 / 22 | 2 of 48 | ±11.89% |
| YTD | +10.91% | +2.45% | -8.46pp | 24 / 22 | 17 / 29 | 0 of 46 | ±62.92% |
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)
- AAPL+4.84%+0.1pp
- VRTX+6.03%+0.1pp
- ISRG+5.87%+0.09pp
- ADBE+4.14%+0.07pp
- WDAY+3.94%+0.07pp
- STX-10.38%-0.39pp
- ARM-6.58%-0.33pp
- KLAC-11.51%-0.28pp
- LRCX-10.19%-0.25pp
- MU-5.49%-0.22pp
This month (21d)
- PANW+17.12%+0.49pp
- VRTX+24.22%+0.4pp
- DASH+22.34%+0.38pp
- AXON+21.82%+0.38pp
- KLAC+15.17%+0.36pp
- ARM-21.71%-1.09pp
- AVGO-25.15%-0.57pp
- MPWR-20.73%-0.54pp
- STX-11.49%-0.44pp
- MU-8.32%-0.33pp
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)
- VRTX+24.22%
- DASH+22.34%
- AXON+21.82%
- PANW+17.12%
- KLAC+15.17%
- AVGO-25.15%
- ARM-21.71%
- MPWR-20.73%
- ADBE-16.17%
- PLTR-15.03%
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% | 315.28 | -6.58% | -9.33% | -21.71% | +188.43% | 2 |
| MU Micron Technology | 3.98% | 975.56 | -5.49% | -19.61% | -8.32% | +241.95% | 29 |
| STX Seagate Technology Holdings | 3.80% | 820.16 | -10.38% | -20.01% | -11.49% | +198.34% | 23 |
| DDOG Datadog Inc Cl A | 3.29% | 260.36 | -1.56% | +17.84% | -3.26% | +91.46% | 38 |
| FTNT Fortinet Inc | 3.10% | 156.25 | -1.72% | +4.22% | +4.96% | +96.76% | 60 |
| CRWD Crowdstrike Holdings | 2.97% | 193.98 | +0.41% | — | — | — | — |
| PANW Palo Alto Networks | 2.89% | 348.06 | -1.13% | +18.76% | +17.12% | +88.96% | 92 |
| MPWR Monolithic Power Sys | 2.61% | 1288.16 | -3.27% | -10.30% | -20.73% | +42.41% | 4 |
| LRCX Lam Research Corp | 2.49% | 351.41 | -10.19% | -12.55% | +5.08% | +105.53% | 63 |
| CDNS Cadence Design Sys | 2.45% | 373.14 | -1.22% | +1.33% | -10.39% | +19.37% | 25 |
| KLAC K L A-Tencor Corp | 2.40% | 235.55 | -11.51% | -8.98% | +15.17% | — | 90 |
| AVGO Broadcom Ltd | 2.28% | 360.45 | -2.41% | -4.87% | -25.15% | +4.36% | 0 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1769.32 | -4.00% | -3.90% | +3.75% | +65.96% | 58 |
| NVDA Nvidia Corp | 2.14% | 194.83 | -1.39% | -0.46% | -12.46% | +4.47% | 17 |
| APP Applovin Corp Cl A | 2.13% | 527.06 | -6.65% | +18.19% | -12.97% | -21.78% | 15 |
| AAPL Apple Inc | 2.12% | 308.63 | +4.84% | +12.17% | -2.08% | +13.63% | 44 |
| MNST Monster Beverage Corp | 2.03% | 97.60 | +0.26% | +1.85% | +10.61% | +27.30% | 81 |
| SNPS Synopsys Inc | 1.99% | 437.16 | -3.82% | -3.93% | -14.00% | -6.93% | 13 |
| MSFT Microsoft Corp | 1.89% | 390.49 | +1.62% | +10.67% | -11.52% | -19.07% | 21 |
| ADP Automatic Data Processing | 1.87% | 242.27 | +2.77% | +12.00% | +5.59% | -5.04% | 71 |
| ROST Ross Stores Inc | 1.86% | 213.43 | +0.72% | -0.79% | -4.46% | +18.73% | 35 |
| WDAY Workday Inc | 1.84% | 135.40 | +3.94% | +19.01% | -9.05% | -36.96% | 27 |
| DXCM Dexcom Inc | 1.83% | 71.25 | +3.47% | +3.79% | -3.00% | +7.35% | 40 |
| PAYX Paychex Inc | 1.81% | 106.35 | +3.54% | +9.96% | +5.52% | -4.21% | 69 |
| META META Platforms Inc | 1.78% | 582.90 | -4.90% | +7.37% | -2.46% | -11.62% | 42 |
| ADBE Adobe Systems Inc | 1.76% | 219.72 | +4.14% | +13.60% | -16.17% | -37.22% | 6 |
| ABNB Airbnb Inc Cl A | 1.76% | 148.93 | +1.10% | +4.97% | +10.85% | +9.73% | 85 |
| AXON Axon Enterprise | 1.75% | 597.04 | +0.52% | +34.25% | +21.82% | +5.13% | 94 |
| DASH Doordash Inc Cl A | 1.72% | 192.01 | +1.66% | +8.54% | +22.34% | -15.22% | 96 |
| EA Electronic Arts Inc | 1.71% | 205.21 | -0.12% | +0.23% | +1.58% | +0.53% | 52 |
| MELI Mercadolibre Inc | 1.69% | 1763.36 | +1.22% | +8.90% | +5.41% | -12.46% | 67 |
| AMGN Amgen Inc | 1.68% | 374.15 | +3.55% | +6.05% | +13.98% | +15.10% | 88 |
| IDXX Idexx Laboratories | 1.65% | 557.80 | +3.76% | +0.52% | +1.27% | -17.55% | 50 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 312.78 | +3.68% | +6.69% | +9.32% | -21.34% | 79 |
| VRTX Vertex Pharmaceutic | 1.64% | 528.04 | +6.03% | +9.97% | +24.22% | +16.47% | 98 |
| BKNG Booking Holdings | 1.63% | 184.56 | +1.05% | +4.24% | +10.65% | — | 83 |
| PLTR Palantir Technologies Cl A | 1.59% | 129.30 | +2.84% | +20.54% | -15.03% | -27.26% | 8 |
| GILD Gilead Sciences Inc | 1.59% | 131.27 | +4.21% | +6.00% | +2.90% | +7.56% | 56 |
| ADSK Autodesk Inc | 1.59% | 207.48 | +3.86% | +9.36% | -12.33% | -29.91% | 19 |
| ROP Roper Industries | 1.58% | 364.20 | +2.68% | +9.56% | +8.23% | -17.81% | 75 |
| PDD Pdd Holdings Inc | 1.51% | 82.39 | -0.16% | +12.40% | -6.57% | -27.34% | 33 |
| VRSK Verisk Analytics Inc | 1.51% | 188.35 | +2.52% | +6.39% | +5.16% | -15.59% | 65 |
| ZS Zscaler Inc | 1.51% | 147.33 | +0.60% | +19.01% | +2.21% | -34.50% | 54 |
| NFLX Netflix Inc | 1.50% | 77.65 | +4.66% | +9.52% | -6.82% | -17.18% | 31 |
| ISRG Intuitive Surg Inc | 1.48% | 426.01 | +5.87% | +6.59% | +5.89% | -24.78% | 73 |
| REGN Regeneron Pharmaceuticals | 1.45% | 654.27 | +4.73% | +5.50% | +8.52% | -15.13% | 77 |
| INTU Intuit Inc | 1.12% | 275.35 | +3.10% | +7.95% | -14.52% | -58.23% | 10 |
| GOOGL Alphabet Cl A | 1.04% | 359.91 | -0.36% | +4.71% | -0.48% | +15.07% | 48 |
| GOOG Alphabet Cl C | 1.04% | 356.18 | -0.48% | +4.09% | -0.56% | +13.59% | 46 |
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.