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 | -4.52% | -0.24 | +0pp | -0.41pp | Confirming ↓ |
| 1 month | -9.00% | -0.39 | +23pp | +7.31pp | Confirming ↓ |
| 1 quarter | -6.61% | -0.71 | +8pp | +3.22pp | Confirming ↓ |
Over the last 126 sessions: price up +6.24%, breadth up (+0.59/name) · % beating 38→63 · median−ETF -4.13pp→+4.53pp.
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 2026-11-03.
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%) | 8 (16%) | -2 |
| 1-Month | 2 (4%) | 2 (4%) | +0 |
| 3-Month | 2 (4%) | 0 (0%) | +2 |
| 6-Month | 2 (4%) | 0 (0%) | +2 |
| 52-Week | 1 (2%) | 0 (0%) | +1 |
| YTD | 1 (2%) | 0 (0%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.56% | +0.08% | -0.48pp | 26 / 22 | 21 / 28 | 16 of 49 | ±2.3% |
| 5d | -4.52% | -1.10% | +3.42pp | 22 / 27 | 33 / 16 | 5 of 49 | ±9.73% |
| 21d | -9.00% | -4.41% | +4.59pp | 21 / 28 | 31 / 18 | 2 of 49 | ±16.73% |
| YTD | +6.05% | +4.17% | -1.89pp | 28 / 21 | 24 / 25 | 1 of 49 | ±47.47% |
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)
- MPWR+6.78%+0.18pp
- APP+7.28%+0.16pp
- ARM+2.90%+0.15pp
- MU+2.58%+0.1pp
- STX+2.13%+0.08pp
- VRTX-4.05%-0.07pp
- DASH-3.55%-0.06pp
- CDNS-1.75%-0.04pp
- ABNB-2.43%-0.04pp
- AAPL-1.90%-0.04pp
This month (21d)
- REGN+33.98%+0.49pp
- ROP+30.33%+0.48pp
- IDXX+27.50%+0.45pp
- VRSK+20.65%+0.31pp
- PAYX+15.90%+0.29pp
- ARM-33.15%-1.66pp
- STX-31.64%-1.2pp
- FTNT-30.42%-0.94pp
- LRCX-33.28%-0.83pp
- MU-19.62%-0.78pp
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)
- REGN+33.98%
- ROP+30.33%
- IDXX+27.50%
- INTU+21.66%
- VRSK+20.65%
- LRCX-33.28%
- ARM-33.15%
- STX-31.64%
- FTNT-30.42%
- ALNY-27.29%
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% | 202.49 | +2.90% | -10.64% | -33.15% | +85.24% | 2 |
| MU Micron Technology | 3.98% | 855.10 | +2.58% | -7.93% | -19.62% | +199.73% | 14 |
| STX Seagate Technology Holdings | 3.80% | 606.38 | +2.13% | -9.20% | -31.64% | +120.57% | 4 |
| DDOG Datadog Inc Cl A | 3.29% | 220.52 | +2.05% | -21.47% | -20.22% | +62.16% | 12 |
| FTNT Fortinet Inc | 3.10% | 128.11 | +1.51% | -30.75% | -30.42% | +61.33% | 6 |
| CRWD Crowdstrike Holdings | 2.97% | 244.68 | +1.19% | -8.71% | -10.27% | +108.79% | 33 |
| PANW Palo Alto Networks | 2.89% | 350.20 | -0.43% | -12.82% | -13.91% | +90.12% | 24 |
| MPWR Monolithic Power Sys | 2.61% | 1328.30 | +6.78% | +9.61% | -10.24% | +46.85% | 35 |
| LRCX Lam Research Corp | 2.49% | 230.72 | +1.39% | -4.21% | -33.28% | +35.04% | 0 |
| CDNS Cadence Design Sys | 2.45% | 323.75 | -1.75% | -5.63% | -8.41% | +3.57% | 37 |
| KLAC K L A-Tencor Corp | 2.40% | 156.20 | +2.02% | +1.65% | -24.49% | +29.03% | 10 |
| AVGO Broadcom Ltd | 2.28% | 332.13 | +3.07% | -2.98% | -8.38% | -3.84% | 39 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1552.14 | +1.70% | -5.10% | -16.55% | +45.59% | 20 |
| NVDA Nvidia Corp | 2.14% | 206.69 | +2.29% | -5.16% | -13.48% | +10.96% | 27 |
| APP Applovin Corp Cl A | 2.13% | 245.51 | +7.28% | -6.59% | -12.93% | -63.56% | 29 |
| AAPL Apple Inc | 2.12% | 331.90 | -1.90% | -4.38% | -0.30% | +22.20% | 55 |
| MNST Monster Beverage Corp | 2.03% | 47.18 | -1.75% | +3.83% | +8.43% | +23.07% | 76 |
| SNPS Synopsys Inc | 1.99% | 462.88 | -0.69% | -2.43% | -5.24% | -1.46% | 45 |
| MSFT Microsoft Corp | 1.89% | 520.99 | +2.74% | -1.95% | -0.80% | +7.97% | 53 |
| ADP Automatic Data Processing | 1.87% | 296.01 | -0.93% | +0.99% | +13.74% | +16.03% | 80 |
| ROST Ross Stores Inc | 1.86% | 231.60 | +0.44% | +0.66% | +2.31% | +28.84% | 61 |
| WDAY Workday Inc | 1.84% | 197.94 | -0.10% | -3.66% | +4.75% | -7.84% | 69 |
| DXCM Dexcom Inc | 1.83% | 82.97 | -2.11% | +5.61% | -4.52% | +25.01% | 47 |
| PAYX Paychex Inc | 1.81% | 115.65 | +0.14% | +5.85% | +15.90% | +4.17% | 88 |
| META META Platforms Inc | 1.78% | 621.03 | +2.36% | +0.14% | -16.29% | -5.84% | 22 |
| ADBE Adobe Systems Inc | 1.76% | 246.14 | -2.12% | -0.89% | +3.08% | -29.67% | 67 |
| ABNB Airbnb Inc Cl A | 1.76% | 166.96 | -2.43% | -1.10% | +1.76% | +23.02% | 59 |
| AXON Axon Enterprise | 1.75% | 416.57 | -2.08% | -2.18% | +1.16% | -26.65% | 57 |
| DASH Doordash Inc Cl A | 1.72% | 183.32 | -3.55% | +7.48% | -4.41% | -19.06% | 49 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 63 |
| MELI Mercadolibre Inc | 1.69% | 1662.16 | -0.87% | -1.09% | -10.67% | -17.48% | 31 |
| AMGN Amgen Inc | 1.68% | 461.26 | -0.90% | +2.97% | +14.46% | +41.90% | 84 |
| IDXX Idexx Laboratories | 1.65% | 672.04 | +0.06% | +19.74% | +27.50% | -0.66% | 94 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 159.89 | +1.20% | -29.50% | -27.29% | -59.79% | 8 |
| VRTX Vertex Pharmaceutic | 1.64% | 530.76 | -4.05% | +1.87% | +5.41% | +17.07% | 71 |
| BKNG Booking Holdings | 1.63% | 155.67 | +1.25% | +3.68% | -1.68% | -26.80% | 51 |
| PLTR Palantir Technologies Cl A | 1.59% | 175.40 | -1.65% | -11.74% | -7.39% | -1.32% | 41 |
| GILD Gilead Sciences Inc | 1.59% | 167.47 | -1.68% | +5.27% | +15.79% | +37.22% | 86 |
| ADSK Autodesk Inc | 1.59% | 252.32 | -2.17% | +4.22% | +13.88% | -14.76% | 82 |
| ROP Roper Industries | 1.58% | 473.58 | -1.24% | +9.00% | +30.33% | +6.88% | 96 |
| PDD Pdd Holdings Inc | 1.51% | 80.17 | -1.85% | +2.26% | +2.91% | -29.30% | 65 |
| VRSK Verisk Analytics Inc | 1.51% | 197.00 | -2.23% | +4.94% | +20.65% | -11.71% | 90 |
| ZS Zscaler Inc | 1.51% | 225.09 | +0.58% | -13.48% | +11.54% | +0.08% | 78 |
| NFLX Netflix Inc | 1.50% | 63.42 | +1.73% | +1.44% | -6.04% | -32.36% | 43 |
| ISRG Intuitive Surg Inc | 1.48% | 440.75 | +0.89% | -1.15% | +8.43% | -22.18% | 73 |
| REGN Regeneron Pharmaceuticals | 1.45% | 973.36 | +1.26% | +19.27% | +33.98% | +26.26% | 98 |
| INTU Intuit Inc | 1.12% | 344.72 | -2.10% | +4.95% | +21.66% | -47.70% | 92 |
| GOOGL Alphabet Cl A | 1.04% | 280.03 | +0.37% | -12.65% | -19.18% | -10.47% | 16 |
| GOOG Alphabet Cl C | 1.04% | 278.27 | +0.08% | -12.17% | -19.07% | -11.26% | 18 |
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 2026-11-04: over 21 sessions the fund returned -9.00% while its median constituent returned -4.41% — a dispersion of 16.73 pp; 63% of 49 members beat the fund. Broad decline - breadth is falling with price.
How did QQEW's members trade in the last session?
As of 2026-11-04: fund +0.56%, median member +0.08%, 26 advancers vs 22 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.