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 | +0.97% | +0.86 | +6pp | +1.67pp | Improving |
| 1 month | +4.22% | +2.73 | +20pp | +3.41pp | Confirming ↑ |
| 1 quarter | -1.07% | -0.02 | +13pp | +2.75pp | Confirming ↓ |
Over the last 126 sessions: price up +2.23%, breadth up (+0.88/name) · % beating 45→65 · median−ETF -0.49pp→+2.90pp.
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 2026-11-03.
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 | 11 (20%) | 8 (14%) | +3 |
| 1-Month | 7 (13%) | 2 (4%) | +5 |
| 3-Month | 5 (9%) | 2 (4%) | +3 |
| 6-Month | 5 (9%) | 0 (0%) | +5 |
| 52-Week | 3 (5%) | 0 (0%) | +3 |
| YTD | 3 (5%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.67% | -0.81% | -0.14pp | 18 / 36 | 25 / 31 | 23 of 56 | ±1.72% |
| 5d | +0.97% | +1.75% | +0.78pp | 39 / 17 | 32 / 24 | 14 of 56 | ±7.51% |
| 21d | +4.22% | +7.12% | +2.90pp | 42 / 14 | 36 / 20 | 3 of 56 | ±11.65% |
| YTD | +1.55% | +8.02% | +6.46pp | 35 / 21 | 34 / 22 | 0 of 56 | ±25.57% |
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)
- AMZN+2.06%+0.04pp
- CSCO+1.34%+0.04pp
- CEG+2.39%+0.04pp
- TTWO+1.50%+0.03pp
- NFLX+1.73%+0.03pp
- KDP-5.65%-0.11pp
- VRTX-4.05%-0.07pp
- FANG-3.70%-0.07pp
- CCEP-3.48%-0.06pp
- INSM-4.46%-0.06pp
This month (21d)
- REGN+33.98%+0.51pp
- IDXX+27.50%+0.47pp
- GEHC+22.70%+0.36pp
- MAR+17.00%+0.36pp
- WMT+18.84%+0.33pp
- LITE-37.70%-0.49pp
- ALNY-27.29%-0.46pp
- CSCO-8.73%-0.26pp
- MELI-10.67%-0.19pp
- BKR-8.00%-0.15pp
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%
- IDXX+27.50%
- GEHC+22.70%
- VRSK+20.65%
- WMT+18.84%
- LITE-37.70%
- ALNY-27.29%
- MELI-10.67%
- CSCO-8.73%
- BKR-8.00%
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% | 102.97 | +1.34% | -7.55% | -8.73% | +35.12% | 5 |
| ODFL Old Dominion Freight Line | 2.34% | 177.68 | +0.82% | -5.00% | -0.94% | +13.47% | 21 |
| AMZN Amazon.com Inc | 2.16% | 250.69 | +2.06% | -0.95% | -0.28% | +8.61% | 23 |
| CSX CSX Corp | 2.12% | 50.72 | -1.74% | -2.97% | +6.94% | +40.38% | 46 |
| MAR Marriot Int Cl A | 2.11% | 416.38 | +0.02% | +6.70% | +17.00% | +34.47% | 89 |
| MNST Monster Beverage Corp | 2.10% | 47.18 | -1.75% | +3.83% | +8.43% | +23.07% | 54 |
| TSLA Tesla Inc | 1.99% | 398.50 | -1.32% | -2.20% | +5.22% | -11.39% | 39 |
| KDP Keurig Dr Pepper Inc | 1.98% | 34.74 | -5.65% | -0.34% | +12.46% | +26.16% | 79 |
| ADP Automatic Data Processing | 1.94% | 296.01 | -0.93% | +0.99% | +13.74% | +16.03% | 80 |
| ROST Ross Stores Inc | 1.93% | 231.60 | +0.44% | +0.66% | +2.31% | +28.84% | 30 |
| BKR Baker Hughes Company | 1.92% | 52.79 | -0.49% | -10.53% | -8.00% | +16.75% | 7 |
| DXCM Dexcom Inc | 1.90% | 82.97 | -2.11% | +5.61% | -4.52% | +25.01% | 14 |
| MDLZ Mondelez Intl Inc | 1.90% | 65.12 | -1.90% | +4.44% | +11.34% | +22.02% | 70 |
| TTWO Take-Two Interactive | 1.89% | 194.99 | +1.50% | -3.12% | -4.16% | -23.84% | 16 |
| FER Ferrovial N.V. | 1.89% | 57.54 | +0.68% | +6.52% | +11.00% | -10.94% | 68 |
| FAST Fastenal Company | 1.89% | 52.33 | -0.42% | +2.03% | +3.24% | +31.82% | 34 |
| PAYX Paychex Inc | 1.88% | 115.65 | +0.14% | +5.85% | +15.90% | +4.17% | 88 |
| PCAR Paccar Inc | 1.86% | 102.03 | -0.69% | -1.64% | -6.70% | -6.30% | 9 |
| FANG Diamondback Energy | 1.84% | 192.34 | -3.70% | -5.94% | +4.49% | +28.71% | 36 |
| ABNB Airbnb Inc Cl A | 1.82% | 166.96 | -2.43% | -1.10% | +1.76% | +23.02% | 29 |
| LIN Linde Plc | 1.82% | 511.55 | -1.57% | +0.57% | +6.05% | +20.38% | 45 |
| KHC Kraft Heinz Company | 1.82% | 24.52 | -1.64% | +1.91% | +12.27% | +2.81% | 75 |
| AXON Axon Enterprise | 1.81% | 416.57 | -2.08% | -2.18% | +1.16% | -26.65% | 27 |
| AEP American Electric Power | 1.78% | 129.86 | -0.36% | -0.34% | +8.46% | +13.51% | 55 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 32 |
| SBUX Starbucks Corp | 1.78% | 104.77 | +0.35% | +1.68% | +10.95% | +25.22% | 66 |
| ORLY O'Reilly Automotive | 1.77% | 89.99 | -0.78% | +0.19% | +7.26% | -1.34% | 50 |
| XEL XCEL Energy Inc | 1.77% | 78.76 | -0.72% | +0.79% | +10.17% | +7.42% | 63 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 111.56 | -3.48% | +0.60% | +9.94% | +23.00% | 61 |
| CTAS Cintas Corp | 1.76% | 223.74 | -0.46% | +4.16% | +14.50% | +19.24% | 84 |
| COST Costco Wholesale | 1.75% | 1019.26 | -2.05% | +2.89% | +10.37% | +18.53% | 64 |
| MELI Mercadolibre Inc | 1.75% | 1662.16 | -0.87% | -1.09% | -10.67% | -17.48% | 4 |
| AMGN Amgen Inc | 1.74% | 461.26 | -0.90% | +2.97% | +14.46% | +41.90% | 82 |
| WMT Walmart Inc | 1.73% | 124.86 | -2.22% | +4.64% | +18.84% | +12.30% | 91 |
| HON Honeywell International | 1.72% | 224.05 | +0.13% | +2.39% | +4.63% | +10.98% | 38 |
| WBD Discovery Inc Series A | 1.72% | 30.95 | +0.00% | +0.32% | +9.56% | +7.39% | 59 |
| IDXX Idexx Laboratories | 1.71% | 672.04 | +0.06% | +19.74% | +27.50% | -0.66% | 96 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 159.89 | +1.20% | -29.50% | -27.29% | -59.79% | 2 |
| BKNG Booking Holdings | 1.70% | 155.67 | +1.25% | +3.68% | -1.68% | -26.80% | 18 |
| PYPL Paypal Holdings | 1.70% | 58.21 | -0.97% | +3.78% | +6.98% | +0.01% | 48 |
| VRTX Vertex Pharmaceutic | 1.70% | 530.76 | -4.05% | +1.87% | +5.41% | +17.07% | 41 |
| EXC Exelon Corp | 1.68% | 45.50 | -2.05% | +1.79% | +11.46% | +5.28% | 73 |
| PEP Pepsico Inc | 1.66% | 137.27 | -2.24% | +2.82% | +9.25% | -3.50% | 57 |
| GILD Gilead Sciences Inc | 1.65% | 167.47 | -1.68% | +5.27% | +15.79% | +37.22% | 86 |
| CEG Constellation Energy Corp | 1.64% | 263.40 | +2.39% | +1.71% | -1.58% | -25.34% | 20 |
| CPRT Copart Inc | 1.64% | 31.06 | -2.72% | +7.40% | +12.33% | -20.66% | 77 |
| GEHC GE Healthcare Technologies | 1.60% | 80.66 | +1.40% | +13.43% | +22.70% | -1.57% | 95 |
| VRSK Verisk Analytics Inc | 1.56% | 197.00 | -2.23% | +4.94% | +20.65% | -11.71% | 93 |
| NFLX Netflix Inc | 1.55% | 63.42 | +1.73% | +1.44% | -6.04% | -32.36% | 13 |
| ISRG Intuitive Surg Inc | 1.53% | 440.75 | +0.89% | -1.15% | +8.43% | -22.18% | 52 |
| REGN Regeneron Pharmaceuticals | 1.50% | 973.36 | +1.26% | +19.27% | +33.98% | +26.26% | 98 |
| TMUS T-Mobile US | 1.49% | 154.41 | -3.58% | +5.16% | -6.21% | -23.59% | 11 |
| CMCSA Comcast Corp A | 1.41% | 23.67 | -0.84% | +8.38% | +11.44% | -13.52% | 71 |
| INSM Insmed Inc | 1.35% | 104.44 | -4.46% | +9.98% | +0.59% | -39.99% | 25 |
| LITE Lumentum Holdings | 1.30% | 680.16 | -0.62% | -21.48% | -37.70% | +84.53% | 0 |
| CHTR Charter Communications | 1.06% | 113.79 | -1.51% | +8.44% | +5.59% | -45.49% | 43 |
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 2026-11-04: over 21 sessions the fund returned +4.22% while its median constituent returned +7.12% — a dispersion of 11.65 pp; 64% of 56 members beat the fund. Broad advance - breadth is rising with price.
How did QQXT's members trade in the last session?
As of 2026-11-04: fund -0.67%, median member -0.81%, 18 advancers vs 36 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 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.