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 | +0.94% | +0 | -10pp | -3.98pp | In line |
| 1 month | +5.10% | +0.63 | +7pp | +2.65pp | Confirming ↑ |
| 1 quarter | +23.49% | +3.47 | -5pp | -1.28pp | Confirming ↑ |
Over the last 126 sessions: price up +10.84%, breadth up (+2.31/name) · % beating 50→45 · median−ETF +0.07pp→-1.19pp.
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 2026-07-10.
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 | 9 (18%) | 13 (27%) | -4 |
| 1-Month | 2 (4%) | 0 (0%) | +2 |
| 3-Month | 0 (0%) | 0 (0%) | +0 |
| 6-Month | 0 (0%) | 0 (0%) | +0 |
| 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 | -0.20% | -0.28% | -0.08pp | 18 / 31 | 22 / 27 | 22 of 49 | ±2.27% |
| 5d | +0.94% | -0.10% | -1.04pp | 24 / 25 | 19 / 30 | 11 of 49 | ±4.49% |
| 21d | +5.10% | +3.91% | -1.19pp | 31 / 18 | 22 / 27 | 4 of 49 | ±8.54% |
| YTD | +11.95% | +1.47% | -10.48pp | 25 / 22 | 19 / 28 | 2 of 47 | ±65.11% |
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)
- META+5.97%+0.11pp
- STX+2.28%+0.09pp
- NVDA+4.03%+0.09pp
- DXCM+2.66%+0.05pp
- MELI+2.46%+0.04pp
- CRWD-5.66%-0.17pp
- DDOG-4.26%-0.14pp
- FTNT-3.80%-0.12pp
- PANW-3.67%-0.11pp
- ZS-5.34%-0.08pp
This month (21d)
- PANW+25.10%+0.73pp
- CRWD+16.09%+0.48pp
- AXON+25.04%+0.44pp
- DDOG+13.28%+0.44pp
- FTNT+13.82%+0.43pp
- MPWR-11.70%-0.31pp
- NFLX-9.88%-0.15pp
- ADSK-6.98%-0.11pp
- ADBE-5.99%-0.11pp
- MSFT-4.54%-0.09pp
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)
- PANW+25.10%
- AXON+25.04%
- DASH+23.22%
- CRWD+16.09%
- META+14.58%
- MPWR-11.70%
- NFLX-9.88%
- ADSK-6.98%
- INTU-6.41%
- ADBE-5.99%
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% | 323.39 | -1.37% | +2.57% | -0.45% | +195.85% | 35 |
| MU Micron Technology | 3.98% | 979.30 | -1.24% | +0.40% | +4.64% | +243.26% | 53 |
| STX Seagate Technology Holdings | 3.80% | 910.34 | +2.28% | +11.00% | +7.60% | +231.14% | 65 |
| DDOG Datadog Inc Cl A | 3.29% | 257.54 | -4.26% | -1.08% | +13.28% | +89.38% | 86 |
| FTNT Fortinet Inc | 3.10% | 157.51 | -3.80% | +0.81% | +13.82% | +98.35% | 88 |
| CRWD Crowdstrike Holdings | 2.97% | 187.18 | -5.66% | -3.51% | +16.09% | +59.72% | 92 |
| PANW Palo Alto Networks | 2.89% | 325.91 | -3.67% | -6.36% | +25.10% | +76.93% | 98 |
| MPWR Monolithic Power Sys | 2.61% | 1352.74 | -1.56% | +5.01% | -11.70% | +49.55% | 0 |
| LRCX Lam Research Corp | 2.49% | 350.33 | -0.80% | -0.31% | +7.16% | +105.05% | 61 |
| CDNS Cadence Design Sys | 2.45% | 384.17 | -0.46% | +2.96% | -1.72% | +22.90% | 31 |
| KLAC K L A-Tencor Corp | 2.40% | 231.52 | +0.87% | -1.71% | +8.22% | — | 71 |
| AVGO Broadcom Ltd | 2.28% | 399.97 | -0.28% | +10.96% | +1.99% | +15.81% | 47 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1797.32 | -0.38% | +1.58% | +1.10% | +68.58% | 39 |
| NVDA Nvidia Corp | 2.14% | 210.96 | +4.03% | +8.28% | +1.33% | +13.25% | 41 |
| APP Applovin Corp Cl A | 2.13% | 506.98 | -2.58% | -3.81% | -2.66% | -24.76% | 22 |
| AAPL Apple Inc | 2.12% | 315.32 | -0.28% | +2.17% | +8.53% | +16.09% | 73 |
| MNST Monster Beverage Corp | 2.03% | 97.39 | +0.87% | -0.22% | +8.03% | +27.02% | 69 |
| SNPS Synopsys Inc | 1.99% | 445.50 | +0.48% | +1.91% | -4.25% | -5.16% | 14 |
| MSFT Microsoft Corp | 1.89% | 385.10 | +0.19% | -1.38% | -4.54% | -20.19% | 12 |
| ADP Automatic Data Processing | 1.87% | 241.92 | +0.27% | -0.14% | +5.44% | -5.17% | 55 |
| ROST Ross Stores Inc | 1.86% | 222.88 | +1.03% | +4.43% | -2.86% | +23.99% | 20 |
| WDAY Workday Inc | 1.84% | 138.95 | +0.44% | +2.62% | -0.91% | -35.31% | 33 |
| DXCM Dexcom Inc | 1.83% | 74.96 | +2.66% | +5.21% | -4.13% | +12.94% | 16 |
| PAYX Paychex Inc | 1.81% | 107.54 | +1.20% | +1.12% | +7.24% | -3.14% | 63 |
| META META Platforms Inc | 1.78% | 669.21 | +5.97% | +14.81% | +14.58% | +1.47% | 90 |
| ADBE Adobe Systems Inc | 1.76% | 223.64 | +0.44% | +1.78% | -5.99% | -36.10% | 8 |
| ABNB Airbnb Inc Cl A | 1.76% | 148.62 | +1.18% | -0.21% | +13.15% | +9.50% | 84 |
| AXON Axon Enterprise | 1.75% | 565.80 | -2.78% | -5.23% | +25.04% | -0.38% | 96 |
| DASH Doordash Inc Cl A | 1.72% | 191.82 | -0.28% | -0.10% | +23.22% | -15.30% | 94 |
| EA Electronic Arts Inc | 1.71% | 206.41 | -0.07% | +0.58% | +1.94% | +1.11% | 45 |
| MELI Mercadolibre Inc | 1.69% | 1852.22 | +2.46% | +5.04% | +12.86% | -8.04% | 82 |
| AMGN Amgen Inc | 1.68% | 363.39 | -0.06% | -2.88% | +5.46% | +11.79% | 57 |
| IDXX Idexx Laboratories | 1.65% | 563.57 | +0.89% | +1.03% | -2.65% | -16.70% | 24 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 298.76 | -4.49% | -4.48% | +0.36% | -24.87% | 37 |
| VRTX Vertex Pharmaceutic | 1.64% | 485.39 | -2.24% | -8.08% | +8.89% | +7.07% | 78 |
| BKNG Booking Holdings | 1.63% | 178.39 | +1.64% | -3.34% | +8.78% | — | 76 |
| PLTR Palantir Technologies Cl A | 1.59% | 126.79 | -1.74% | -1.94% | -4.00% | -28.67% | 18 |
| GILD Gilead Sciences Inc | 1.59% | 129.83 | -3.72% | -1.10% | +4.13% | +6.38% | 51 |
| ADSK Autodesk Inc | 1.59% | 208.45 | -0.06% | +0.47% | -6.98% | -29.58% | 4 |
| ROP Roper Industries | 1.58% | 355.90 | -0.01% | -2.03% | +6.12% | -19.68% | 59 |
| PDD Pdd Holdings Inc | 1.51% | 85.13 | -0.87% | +3.33% | +3.91% | -24.92% | 49 |
| VRSK Verisk Analytics Inc | 1.51% | 185.39 | -0.87% | -1.57% | +1.83% | -16.91% | 43 |
| ZS Zscaler Inc | 1.51% | 139.27 | -5.34% | -5.47% | +10.67% | -38.08% | 80 |
| NFLX Netflix Inc | 1.50% | 73.37 | -2.78% | -5.51% | -9.88% | -21.75% | 2 |
| ISRG Intuitive Surg Inc | 1.48% | 406.78 | -1.16% | -4.51% | -4.65% | -28.18% | 10 |
| REGN Regeneron Pharmaceuticals | 1.45% | 664.52 | -0.51% | +1.57% | +7.85% | -13.80% | 67 |
| INTU Intuit Inc | 1.12% | 274.96 | +0.58% | +0.30% | -6.41% | -58.29% | 6 |
| GOOGL Alphabet Cl A | 1.04% | 357.18 | -0.48% | -0.76% | -1.94% | +14.20% | 29 |
| GOOG Alphabet Cl C | 1.04% | 355.03 | -0.34% | -0.32% | -2.00% | +13.22% | 27 |
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.