Constituent dispersion · breadth vs the index
QQXT — First Trust Nasdaq-100 Ex-Technology
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 | -0.98% | -0.39 | +4pp | -0.18pp | Weakening |
| 1 month | -7.52% | -3.5 | +11pp | +3.65pp | Confirming ↓ |
| 1 quarter | -0.32% | -1.25 | -4pp | -0.51pp | Weakening |
Over the last 126 sessions: price down -0.83%, breadth down (-0.62/name) · % beating 49→55 · median−ETF -1.07pp→+0.85pp.
Stocks above their moving average — participation breadth
Of the 56 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 2026-09-24.
New highs & new lows — by horizon
How many of the 56 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 (11%) | 19 (34%) | -13 |
| 1-Month | 1 (2%) | 14 (25%) | -13 |
| 3-Month | 1 (2%) | 9 (16%) | -8 |
| 6-Month | 1 (2%) | 4 (7%) | -3 |
| 52-Week | 1 (2%) | 3 (6%) | -2 |
| YTD | 1 (2%) | 3 (5%) | -2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.62% | -0.44% | +0.18pp | 20 / 35 | 32 / 24 | 33 of 56 | ±1.3% |
| 5d | -0.97% | -0.69% | +0.28pp | 21 / 35 | 30 / 26 | 13 of 56 | ±4.13% |
| 21d | -7.51% | -6.64% | +0.87pp | 9 / 47 | 31 / 25 | 7 of 56 | ±7.84% |
| YTD | -2.71% | +2.77% | +5.48pp | 31 / 24 | 31 / 24 | 1 of 55 | ±28.43% |
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)
- CTAS+2.97%+0.05pp
- INSM+2.71%+0.04pp
- FANG+1.81%+0.03pp
- ABNB+1.21%+0.02pp
- ALNY+1.25%+0.02pp
- MNST-2.82%-0.06pp
- KDP-2.77%-0.05pp
- PAYX-2.78%-0.05pp
- CPRT-2.86%-0.05pp
- WMT-2.66%-0.05pp
This month (21d)
- TSLA+7.91%+0.16pp
- WBD+6.71%+0.12pp
- ISRG+7.44%+0.11pp
- ALNY+3.96%+0.07pp
- LITE+4.91%+0.06pp
- AXON-27.44%-0.5pp
- BKNG-26.37%-0.45pp
- ABNB-20.53%-0.37pp
- PAYX-18.72%-0.35pp
- ODFL-11.67%-0.27pp
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)
- TSLA+7.91%
- ISRG+7.44%
- WBD+6.71%
- LITE+4.91%
- ALNY+3.96%
- AXON-27.44%
- BKNG-26.37%
- CHTR-24.23%
- ABNB-20.53%
- PAYX-18.72%
QQXT — constituent leadership race
$100 in each covered QQXT 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 — 56 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CSCO Cisco Systems Inc | 2.93% | 106.97 | +0.51% | -2.97% | -3.73% | +40.37% | 66 |
| ODFL Old Dominion Freight Line | 2.34% | 174.93 | -1.57% | -0.09% | -11.67% | +11.72% | 25 |
| AMZN Amazon.com Inc | 2.16% | 249.38 | +0.04% | -0.72% | -4.47% | +8.04% | 61 |
| CSX CSX Corp | 2.12% | 46.95 | -0.51% | -1.98% | -8.60% | +29.94% | 38 |
| MAR Marriot Int Cl A | 2.11% | 351.51 | -0.04% | +5.24% | -1.75% | +13.52% | 82 |
| MNST Monster Beverage Corp | 2.10% | 42.67 | -2.82% | -4.13% | -12.44% | +11.31% | 20 |
| TSLA Tesla Inc | 1.99% | 377.94 | -0.57% | +3.21% | +7.91% | -15.96% | 98 |
| KDP Keurig Dr Pepper Inc | 1.98% | 30.88 | -2.77% | -1.75% | -3.02% | +12.14% | 73 |
| ADP Automatic Data Processing | 1.94% | 263.11 | -0.22% | -3.35% | -6.96% | +3.13% | 46 |
| ROST Ross Stores Inc | 1.93% | 235.40 | +0.61% | +2.58% | -2.40% | +30.95% | 75 |
| BKR Baker Hughes Company | 1.92% | 57.29 | -1.28% | +1.27% | -7.33% | +26.70% | 45 |
| DXCM Dexcom Inc | 1.90% | 87.47 | -0.30% | -0.52% | -1.90% | +31.79% | 77 |
| MDLZ Mondelez Intl Inc | 1.90% | 60.86 | -0.94% | -1.90% | -3.38% | +14.04% | 71 |
| TTWO Take-Two Interactive | 1.89% | 202.98 | -1.62% | -3.63% | -12.86% | -20.72% | 16 |
| FER Ferrovial N.V. | 1.89% | 55.38 | +0.18% | +1.34% | -12.14% | -14.29% | 23 |
| FAST Fastenal Company | 1.89% | 50.73 | -0.51% | +3.15% | +0.83% | +27.79% | 86 |
| PAYX Paychex Inc | 1.88% | 101.59 | -2.78% | -12.81% | -18.72% | -8.50% | 7 |
| PCAR Paccar Inc | 1.86% | 110.67 | -1.27% | -5.70% | -14.36% | +1.64% | 14 |
| FANG Diamondback Energy | 1.84% | 189.01 | +1.81% | -4.03% | -5.44% | +26.48% | 55 |
| ABNB Airbnb Inc Cl A | 1.82% | 151.39 | +1.21% | -8.76% | -20.53% | +11.55% | 5 |
| LIN Linde Plc | 1.82% | 468.14 | -0.34% | +2.11% | -3.60% | +10.16% | 68 |
| KHC Kraft Heinz Company | 1.82% | 23.86 | +0.29% | -3.52% | -4.26% | +0.04% | 63 |
| AXON Axon Enterprise | 1.81% | 445.00 | -1.24% | -1.87% | -27.44% | -21.65% | 0 |
| AEP American Electric Power | 1.78% | 117.57 | -0.70% | -3.33% | -4.24% | +2.77% | 64 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 89 |
| SBUX Starbucks Corp | 1.78% | 93.65 | -0.52% | -3.12% | -11.45% | +11.93% | 27 |
| ORLY O'Reilly Automotive | 1.77% | 86.24 | +0.40% | +1.59% | -4.52% | -5.45% | 57 |
| XEL XCEL Energy Inc | 1.77% | 69.56 | -1.56% | -5.53% | -9.88% | -5.13% | 32 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 100.31 | +0.62% | -0.17% | -8.68% | +10.60% | 36 |
| CTAS Cintas Corp | 1.76% | 197.68 | +2.97% | -0.14% | -3.46% | +5.35% | 70 |
| COST Costco Wholesale | 1.75% | 896.48 | -0.91% | +0.29% | -6.62% | +4.25% | 50 |
| MELI Mercadolibre Inc | 1.75% | 1754.13 | -2.51% | -3.89% | -12.16% | -12.91% | 21 |
| AMGN Amgen Inc | 1.74% | 406.04 | -0.01% | +6.91% | -8.19% | +24.91% | 43 |
| WMT Walmart Inc | 1.73% | 107.59 | -2.66% | +0.75% | +2.10% | -3.23% | 88 |
| HON Honeywell International | 1.72% | 211.79 | -0.37% | +2.57% | -1.80% | +4.91% | 80 |
| WBD Discovery Inc Series A | 1.72% | 30.84 | +0.26% | +9.21% | +6.71% | +7.01% | 95 |
| IDXX Idexx Laboratories | 1.71% | 513.39 | -1.65% | +1.36% | -6.66% | -24.11% | 48 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 249.59 | +1.25% | +1.66% | +3.96% | -37.23% | 91 |
| BKNG Booking Holdings | 1.70% | 157.41 | +0.97% | -7.69% | -26.37% | — | 2 |
| PYPL Paypal Holdings | 1.70% | 52.60 | +0.17% | -0.64% | -15.32% | -9.63% | 13 |
| VRTX Vertex Pharmaceutic | 1.70% | 522.38 | +1.17% | +1.17% | -5.51% | +15.22% | 54 |
| EXC Exelon Corp | 1.68% | 40.20 | -1.20% | -5.72% | -8.41% | -6.99% | 41 |
| PEP Pepsico Inc | 1.66% | 128.15 | -1.56% | -4.12% | -8.96% | -9.91% | 34 |
| GILD Gilead Sciences Inc | 1.65% | 149.69 | -1.11% | -0.80% | +0.62% | +22.65% | 84 |
| CEG Constellation Energy Corp | 1.64% | 261.62 | -0.86% | -0.45% | -6.03% | -25.84% | 52 |
| CPRT Copart Inc | 1.64% | 28.04 | -2.86% | -5.46% | -15.87% | -28.38% | 11 |
| GEHC GE Healthcare Technologies | 1.60% | 66.38 | +0.44% | +3.00% | -10.19% | -19.00% | 30 |
| VRSK Verisk Analytics Inc | 1.56% | 168.65 | -1.83% | -4.44% | -10.53% | -24.41% | 29 |
| NFLX Netflix Inc | 1.55% | 71.72 | +0.50% | -4.77% | -12.78% | -23.51% | 18 |
| ISRG Intuitive Surg Inc | 1.53% | 399.52 | +0.31% | +4.17% | +7.44% | -29.46% | 96 |
| REGN Regeneron Pharmaceuticals | 1.50% | 796.02 | -0.72% | +0.83% | -4.50% | +3.25% | 59 |
| TMUS T-Mobile US | 1.49% | 165.35 | -0.19% | -0.66% | -8.43% | -18.17% | 39 |
| CMCSA Comcast Corp A | 1.41% | 22.13 | -1.86% | -3.40% | -18.34% | -19.15% | 9 |
| INSM Insmed Inc | 1.35% | 121.55 | +2.71% | -1.96% | -1.89% | -30.16% | 79 |
| LITE Lumentum Holdings | 1.30% | 929.04 | -0.85% | +3.96% | +4.91% | +152.05% | 93 |
| CHTR Charter Communications | 1.06% | 117.55 | +0.81% | -11.86% | -24.23% | -43.69% | 4 |
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
QQXT dispersion — data Q&A
Is QQXT's move broad or carried by a few names (21 sessions)?
As of 2026-09-24: over 21 sessions the fund returned -7.51% while its median constituent returned -6.64% — a dispersion of 7.84 pp; 55% of 56 members beat the fund. Broad decline - breadth is falling with price.
How did QQXT's members trade in the last session?
As of 2026-09-24: fund -0.62%, median member -0.44%, 20 advancers vs 35 decliners.
What does the dispersion page for QQXT 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. 56 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.