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 | +2.66% | +0.18 | -8pp | -1.24pp | Confirming ↑ |
| 1 month | +6.49% | +1.18 | -19pp | -6.88pp | Confirming ↑ |
| 1 quarter | +14.61% | +2.35 | +5pp | +8.37pp | Confirming ↑ |
Over the last 126 sessions: price up +25.59%, breadth up (+5.55/name) · % beating 48→44 · median−ETF -0.81pp→-0.58pp.
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 2026-08-14.
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 | 8 (16%) | 6 (12%) | +2 |
| 1-Month | 4 (8%) | 0 (0%) | +4 |
| 3-Month | 2 (4%) | 0 (0%) | +2 |
| 6-Month | 1 (2%) | 0 (0%) | +1 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 0 (0%) | 0 (0%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.44% | -0.31% | +0.13pp | 17 / 31 | 25 / 24 | 23 of 49 | ±2.01% |
| 5d | +2.66% | +1.18% | -1.48pp | 33 / 16 | 18 / 31 | 5 of 49 | ±5.28% |
| 21d | +6.49% | +5.91% | -0.58pp | 33 / 15 | 21 / 27 | 5 of 48 | ±12.69% |
| YTD | +17.02% | +7.45% | -9.58pp | 28 / 18 | 15 / 31 | 0 of 46 | ±64.82% |
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)
- STX+5.65%+0.21pp
- MU+2.30%+0.09pp
- MPWR+2.90%+0.08pp
- SNPS+2.37%+0.05pp
- DDOG+1.28%+0.04pp
- AVGO-5.94%-0.14pp
- CRWD-3.80%-0.11pp
- FTNT-3.28%-0.1pp
- PANW-2.96%-0.09pp
- WDAY-3.76%-0.07pp
This month (21d)
- STX+30.58%+1.16pp
- WDAY+36.62%+0.67pp
- MU+13.88%+0.55pp
- PLTR+29.46%+0.47pp
- MSFT+23.51%+0.44pp
- APP-27.40%-0.58pp
- ALNY-19.25%-0.32pp
- CDNS-10.92%-0.27pp
- META-11.24%-0.2pp
- AAPL-8.20%-0.17pp
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)
- WDAY+36.62%
- STX+30.58%
- PLTR+29.46%
- ZS+25.38%
- ABNB+24.53%
- APP-27.40%
- ALNY-19.25%
- META-11.24%
- CDNS-10.92%
- VRSK-9.84%
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% | 279.44 | +0.28% | -1.11% | +6.65% | +155.64% | 56 |
| MU Micron Technology | 3.98% | 971.66 | +2.30% | +10.72% | +13.88% | +240.59% | 73 |
| STX Seagate Technology Holdings | 3.80% | 973.44 | +5.65% | +19.77% | +30.58% | +254.09% | 96 |
| DDOG Datadog Inc Cl A | 3.29% | 255.46 | +1.28% | +9.20% | -2.62% | +87.85% | 19 |
| FTNT Fortinet Inc | 3.10% | 160.01 | -3.28% | +0.23% | -0.48% | +101.50% | 29 |
| CRWD Crowdstrike Holdings | 2.97% | 216.95 | -3.80% | +1.18% | +6.47% | +85.13% | 54 |
| PANW Palo Alto Networks | 2.89% | 384.27 | -2.96% | +5.61% | +8.55% | +108.62% | 60 |
| MPWR Monolithic Power Sys | 2.61% | 1402.01 | +2.90% | +0.03% | +7.38% | +55.00% | 58 |
| LRCX Lam Research Corp | 2.49% | 332.36 | -1.38% | +6.75% | +3.55% | +94.53% | 40 |
| CDNS Cadence Design Sys | 2.45% | 324.82 | +0.32% | -4.25% | -10.92% | +3.92% | 6 |
| KLAC K L A-Tencor Corp | 2.40% | 203.72 | -2.70% | +2.83% | -7.13% | — | 13 |
| AVGO Broadcom Ltd | 2.28% | 392.99 | -5.94% | -8.13% | +4.95% | +13.79% | 44 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1844.08 | -0.21% | +5.92% | +3.32% | +72.97% | 38 |
| NVDA Nvidia Corp | 2.14% | 225.16 | -0.06% | +0.54% | +8.56% | +20.88% | 63 |
| APP Applovin Corp Cl A | 2.13% | 315.44 | +0.89% | -9.04% | -27.40% | -53.19% | 0 |
| AAPL Apple Inc | 2.12% | 305.93 | +0.22% | -2.28% | -8.20% | +12.64% | 10 |
| MNST Monster Beverage Corp | 2.03% | 46.82 | +0.30% | +3.63% | — | — | — |
| SNPS Synopsys Inc | 1.99% | 421.50 | +2.37% | +1.32% | +1.07% | -10.27% | 31 |
| MSFT Microsoft Corp | 1.89% | 495.40 | -0.30% | -0.92% | +23.51% | +2.67% | 88 |
| ADP Automatic Data Processing | 1.87% | 272.96 | -1.18% | +0.60% | +6.39% | +6.99% | 52 |
| ROST Ross Stores Inc | 1.86% | 245.36 | +0.16% | -3.87% | +5.43% | +36.49% | 48 |
| WDAY Workday Inc | 1.84% | 198.68 | -3.76% | +10.60% | +36.62% | -7.50% | 98 |
| DXCM Dexcom Inc | 1.83% | 89.75 | -1.89% | +5.90% | +15.09% | +35.23% | 77 |
| PAYX Paychex Inc | 1.81% | 122.02 | -2.70% | +1.65% | +6.38% | +9.90% | 50 |
| META META Platforms Inc | 1.78% | 589.85 | -0.86% | -0.38% | -11.24% | -10.56% | 4 |
| ADBE Adobe Systems Inc | 1.76% | 264.02 | -2.39% | -0.45% | +12.20% | -24.56% | 69 |
| ABNB Airbnb Inc Cl A | 1.76% | 184.06 | -0.58% | +3.36% | +24.53% | +35.62% | 90 |
| AXON Axon Enterprise | 1.75% | 612.83 | -0.45% | +7.32% | +13.12% | +7.91% | 71 |
| DASH Doordash Inc Cl A | 1.72% | 217.02 | +0.35% | +0.35% | +16.45% | -4.18% | 81 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.38% | +2.07% | +2.73% | 35 |
| MELI Mercadolibre Inc | 1.69% | 1844.58 | +0.89% | +1.31% | -0.69% | -8.42% | 27 |
| AMGN Amgen Inc | 1.68% | 415.21 | -0.63% | +1.04% | +11.74% | +27.73% | 67 |
| IDXX Idexx Laboratories | 1.65% | 550.96 | -2.82% | -6.09% | -4.36% | -18.56% | 15 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 228.65 | +0.67% | +4.31% | -19.25% | -42.50% | 2 |
| VRTX Vertex Pharmaceutic | 1.64% | 505.75 | -2.07% | +1.95% | +4.06% | +11.56% | 42 |
| BKNG Booking Holdings | 1.63% | 212.06 | -0.60% | -1.10% | +14.87% | — | 75 |
| PLTR Palantir Technologies Cl A | 1.59% | 174.04 | -2.78% | +1.18% | +29.46% | -2.09% | 94 |
| GILD Gilead Sciences Inc | 1.59% | 138.36 | +0.16% | +3.87% | +1.51% | +13.37% | 33 |
| ADSK Autodesk Inc | 1.59% | 251.66 | -2.44% | +1.04% | +15.94% | -14.98% | 79 |
| ROP Roper Industries | 1.58% | 399.34 | +0.46% | -0.72% | +9.65% | -9.88% | 65 |
| PDD Pdd Holdings Inc | 1.51% | 84.79 | +0.74% | -7.60% | -2.18% | -25.22% | 23 |
| VRSK Verisk Analytics Inc | 1.51% | 181.67 | -2.30% | -5.29% | -9.84% | -18.58% | 8 |
| ZS Zscaler Inc | 1.51% | 183.60 | -2.43% | +8.85% | +25.38% | -18.37% | 92 |
| NFLX Netflix Inc | 1.50% | 78.16 | -0.10% | +5.42% | +5.12% | -16.64% | 46 |
| ISRG Intuitive Surg Inc | 1.48% | 394.51 | -1.68% | +4.14% | -1.94% | -30.34% | 25 |
| REGN Regeneron Pharmaceuticals | 1.45% | 803.48 | -0.31% | +2.44% | +18.34% | +4.22% | 85 |
| INTU Intuit Inc | 1.12% | 345.66 | -3.53% | +6.28% | +17.26% | -47.56% | 83 |
| GOOGL Alphabet Cl A | 1.04% | 345.90 | -0.13% | -2.37% | -2.41% | +10.59% | 21 |
| GOOG Alphabet Cl C | 1.04% | 343.54 | -0.12% | -2.81% | -2.90% | +9.55% | 17 |
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.