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 | -2.44% | -0.37 | +4pp | +2.73pp | Confirming ↓ |
| 1 month | +0.69% | +0.31 | -1pp | +1.00pp | Improving |
| 1 quarter | +2.54% | +0.73 | +23pp | +11.63pp | Confirming ↑ |
Over the last 126 sessions: price up +21.96%, breadth up (+4.27/name) · % beating 50→54 · median−ETF +0.41pp→+2.31pp.
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 2026-09-03.
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 | 9 (18%) | 12 (24%) | -3 |
| 1-Month | 7 (14%) | 8 (16%) | -1 |
| 3-Month | 5 (10%) | 3 (6%) | +2 |
| 6-Month | 4 (8%) | 0 (0%) | +4 |
| 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 | +0.49% | +0.39% | -0.10pp | 31 / 17 | 23 / 26 | 19 of 49 | ±2.13% |
| 5d | -2.44% | -1.06% | +1.37pp | 21 / 28 | 28 / 21 | 2 of 49 | ±5.49% |
| 21d | +0.69% | +2.43% | +1.75pp | 27 / 22 | 27 / 22 | 1 of 49 | ±10.5% |
| YTD | +14.34% | +8.13% | -6.21pp | 28 / 19 | 19 / 28 | 1 of 47 | ±55.03% |
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)
- CRWD+5.68%+0.17pp
- ARM+3.29%+0.17pp
- PLTR+7.71%+0.12pp
- AXON+6.15%+0.11pp
- DDOG+2.64%+0.09pp
- AVGO-2.74%-0.06pp
- ASML-2.15%-0.05pp
- STX-1.23%-0.05pp
- APP-1.71%-0.04pp
- BKNG-2.24%-0.04pp
This month (21d)
- WDAY+21.26%+0.39pp
- ABNB+21.48%+0.38pp
- MU+7.27%+0.29pp
- ALNY+15.64%+0.26pp
- VRTX+15.08%+0.25pp
- DDOG-24.16%-0.79pp
- ARM-11.65%-0.58pp
- APP-24.94%-0.53pp
- AVGO-14.61%-0.33pp
- MPWR-9.80%-0.26pp
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)
- ABNB+21.48%
- WDAY+21.26%
- ALNY+15.64%
- PLTR+15.21%
- VRTX+15.08%
- APP-24.94%
- DDOG-24.16%
- AVGO-14.61%
- AXON-11.70%
- ARM-11.65%
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% | 242.59 | +3.29% | -4.94% | -11.65% | +121.93% | 8 |
| MU Micron Technology | 3.98% | 958.16 | +0.22% | +2.43% | +7.27% | +235.85% | 73 |
| STX Seagate Technology Holdings | 3.80% | 798.61 | -1.23% | -5.74% | -4.66% | +190.50% | 37 |
| DDOG Datadog Inc Cl A | 3.29% | 214.76 | +2.64% | -11.60% | -24.16% | +57.92% | 2 |
| FTNT Fortinet Inc | 3.10% | 156.36 | +1.18% | -9.50% | -4.73% | +96.90% | 35 |
| CRWD Crowdstrike Holdings | 2.97% | 214.97 | +5.68% | -5.70% | +2.43% | +83.44% | 49 |
| PANW Palo Alto Networks | 2.89% | 331.94 | +1.05% | -13.30% | -8.47% | +80.21% | 22 |
| MPWR Monolithic Power Sys | 2.61% | 1213.65 | -0.47% | -7.43% | -9.80% | +34.17% | 14 |
| LRCX Lam Research Corp | 2.49% | 292.66 | +1.51% | -8.14% | -4.80% | +71.29% | 33 |
| CDNS Cadence Design Sys | 2.45% | 304.88 | -0.59% | -12.28% | -9.55% | -2.46% | 16 |
| KLAC K L A-Tencor Corp | 2.40% | 172.94 | +0.39% | -5.89% | -10.20% | — | 12 |
| AVGO Broadcom Ltd | 2.28% | 357.16 | -2.74% | -3.87% | -14.61% | +3.41% | 4 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1646.19 | -2.15% | -5.12% | -1.91% | +54.41% | 39 |
| NVDA Nvidia Corp | 2.14% | 228.45 | +1.80% | +0.21% | +4.21% | +22.64% | 57 |
| APP Applovin Corp Cl A | 2.13% | 313.58 | -1.71% | +0.30% | -24.94% | -53.46% | 0 |
| AAPL Apple Inc | 2.12% | 328.21 | +1.00% | +4.33% | +5.62% | +20.84% | 65 |
| MNST Monster Beverage Corp | 2.03% | 44.08 | -0.77% | -5.61% | -6.67% | +14.99% | 24 |
| SNPS Synopsys Inc | 1.99% | 416.31 | +0.08% | -10.45% | +3.86% | -11.37% | 55 |
| MSFT Microsoft Corp | 1.89% | 510.12 | +2.68% | +1.00% | +4.65% | +5.72% | 59 |
| ADP Automatic Data Processing | 1.87% | 283.53 | +0.84% | -0.40% | +4.98% | +11.14% | 61 |
| ROST Ross Stores Inc | 1.86% | 231.67 | +0.36% | +0.78% | -8.51% | +28.88% | 20 |
| WDAY Workday Inc | 1.84% | 206.92 | +3.01% | +6.90% | +21.26% | -3.66% | 96 |
| DXCM Dexcom Inc | 1.83% | 89.71 | +0.02% | +0.47% | +8.53% | +35.17% | 76 |
| PAYX Paychex Inc | 1.81% | 125.08 | +0.87% | -1.11% | +5.76% | +12.66% | 67 |
| META META Platforms Inc | 1.78% | 610.68 | +3.01% | +6.93% | +3.72% | -7.41% | 53 |
| ADBE Adobe Systems Inc | 1.76% | 285.75 | +2.13% | -1.18% | +10.19% | -18.35% | 84 |
| ABNB Airbnb Inc Cl A | 1.76% | 185.25 | +1.09% | +0.46% | +21.48% | +36.49% | 98 |
| AXON Axon Enterprise | 1.75% | 538.15 | +6.15% | -11.95% | -11.70% | -5.24% | 6 |
| DASH Doordash Inc Cl A | 1.72% | 222.00 | -1.87% | -4.26% | +7.11% | -1.98% | 71 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 47 |
| MELI Mercadolibre Inc | 1.69% | 1991.06 | -0.77% | +3.12% | +3.56% | -1.15% | 51 |
| AMGN Amgen Inc | 1.68% | 444.12 | +0.29% | +1.63% | +8.90% | +36.63% | 78 |
| IDXX Idexx Laboratories | 1.65% | 529.29 | -1.80% | -2.90% | -9.49% | -21.76% | 18 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 264.50 | -1.08% | +11.81% | +15.64% | -33.48% | 94 |
| VRTX Vertex Pharmaceutic | 1.64% | 557.96 | +0.22% | +1.90% | +15.08% | +23.07% | 90 |
| BKNG Booking Holdings | 1.63% | 195.13 | -2.24% | -3.67% | -5.74% | — | 29 |
| PLTR Palantir Technologies Cl A | 1.59% | 182.53 | +7.71% | -1.83% | +15.21% | +2.69% | 92 |
| GILD Gilead Sciences Inc | 1.59% | 151.22 | +1.08% | +1.59% | +14.77% | +23.90% | 88 |
| ADSK Autodesk Inc | 1.59% | 237.52 | -1.74% | -12.22% | -1.05% | -19.76% | 43 |
| ROP Roper Industries | 1.58% | 422.35 | +1.58% | -0.08% | +7.05% | -4.68% | 69 |
| PDD Pdd Holdings Inc | 1.51% | 81.63 | -0.75% | -3.61% | -10.24% | -28.01% | 10 |
| VRSK Verisk Analytics Inc | 1.51% | 190.60 | +1.30% | -0.22% | +0.98% | -14.58% | 45 |
| ZS Zscaler Inc | 1.51% | 177.80 | +2.94% | -5.07% | +9.99% | -20.95% | 82 |
| NFLX Netflix Inc | 1.50% | 82.67 | -0.07% | +3.54% | +11.42% | -11.83% | 86 |
| ISRG Intuitive Surg Inc | 1.48% | 369.83 | -0.55% | +0.75% | -1.43% | -34.70% | 41 |
| REGN Regeneron Pharmaceuticals | 1.45% | 843.47 | -1.00% | +4.43% | +9.74% | +9.41% | 80 |
| INTU Intuit Inc | 1.12% | 344.30 | +0.40% | -1.06% | +4.99% | -47.77% | 63 |
| GOOGL Alphabet Cl A | 1.04% | 342.48 | +1.59% | +0.54% | -5.50% | +9.50% | 31 |
| GOOG Alphabet Cl C | 1.04% | 339.08 | +1.59% | +0.41% | -5.85% | +8.13% | 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.
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 2026-09-03: over 21 sessions the fund returned +0.69% while its median constituent returned +2.43% — a dispersion of 10.50 pp; 55% of 49 members beat the fund. Improving below the surface - the A/D line is rising while price is flat-to-down; more names participating than the headline shows.
How did QQEW's members trade in the last session?
As of 2026-09-03: fund +0.49%, median member +0.39%, 31 advancers vs 17 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 Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.