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 | +1.17% | +1.29 | +10pp | +1.08pp | Confirming ↑ |
| 1 month | +0.48% | +0.43 | -2pp | -1.35pp | Improving |
| 1 quarter | -2.33% | -1.68 | +8pp | +0.52pp | Confirming ↓ |
Over the last 126 sessions: price down -1.82%, breadth down (-0.77/name) · % beating 42→56 · median−ETF -0.65pp→+0.36pp.
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 2026-10-14.
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 | 30 (54%) | 10 (18%) | +20 |
| 1-Month | 18 (32%) | 1 (2%) | +17 |
| 3-Month | 5 (9%) | 1 (2%) | +4 |
| 6-Month | 2 (4%) | 1 (2%) | +1 |
| 52-Week | 1 (2%) | 1 (2%) | +0 |
| YTD | 1 (2%) | 1 (2%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.22% | +0.71% | +0.49pp | 38 / 16 | 34 / 22 | 27 of 56 | ±2.14% |
| 5d | +1.17% | +2.35% | +1.18pp | 39 / 17 | 34 / 22 | 8 of 56 | ±4.45% |
| 21d | +0.49% | +1.16% | +0.67pp | 33 / 23 | 32 / 24 | 6 of 56 | ±7.75% |
| YTD | -1.18% | +2.84% | +4.02pp | 31 / 24 | 32 / 23 | 2 of 55 | ±29.24% |
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)
- GILD+3.80%+0.06pp
- WMT+3.46%+0.06pp
- AMGN+3.21%+0.06pp
- REGN+3.35%+0.05pp
- COST+2.87%+0.05pp
- LITE-9.28%-0.12pp
- CEG-5.49%-0.09pp
- TSLA-2.15%-0.04pp
- AMZN-1.74%-0.04pp
- BKR-1.91%-0.04pp
This month (21d)
- AMGN+13.43%+0.23pp
- MAR+10.25%+0.22pp
- ISRG+11.42%+0.17pp
- WBD+9.56%+0.16pp
- COST+8.95%+0.16pp
- CHTR-25.54%-0.27pp
- CPRT-15.37%-0.25pp
- INSM-18.45%-0.25pp
- PCAR-11.35%-0.21pp
- CMCSA-13.80%-0.19pp
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)
- AMGN+13.43%
- ISRG+11.42%
- MAR+10.25%
- WBD+9.56%
- COST+8.95%
- CHTR-25.54%
- INSM-18.45%
- CPRT-15.37%
- CMCSA-13.80%
- TMUS-12.57%
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% | 113.64 | -1.24% | -3.19% | +3.24% | +49.12% | 64 |
| ODFL Old Dominion Freight Line | 2.34% | 184.37 | +0.66% | +4.99% | +1.88% | +17.75% | 54 |
| AMZN Amazon.com Inc | 2.16% | 254.08 | -1.74% | -2.25% | +2.28% | +10.08% | 59 |
| CSX CSX Corp | 2.12% | 48.28 | +1.09% | +3.14% | -0.78% | +33.62% | 38 |
| MAR Marriot Int Cl A | 2.11% | 371.82 | +0.09% | +4.30% | +10.25% | +20.08% | 95 |
| MNST Monster Beverage Corp | 2.10% | 44.22 | +2.10% | +3.13% | -0.92% | +15.35% | 36 |
| TSLA Tesla Inc | 1.99% | 367.16 | -2.15% | -2.82% | +2.97% | -18.36% | 63 |
| KDP Keurig Dr Pepper Inc | 1.98% | 33.12 | +1.41% | +8.45% | +5.18% | +20.28% | 79 |
| ADP Automatic Data Processing | 1.94% | 280.32 | +1.60% | +6.18% | +1.37% | +9.88% | 50 |
| ROST Ross Stores Inc | 1.93% | 230.57 | +2.17% | +2.23% | +1.90% | +28.27% | 55 |
| BKR Baker Hughes Company | 1.92% | 55.37 | -1.91% | -0.07% | -2.38% | +22.45% | 34 |
| DXCM Dexcom Inc | 1.90% | 83.47 | -1.87% | -0.98% | -3.45% | +25.76% | 30 |
| MDLZ Mondelez Intl Inc | 1.90% | 62.57 | +1.74% | +5.37% | +0.76% | +17.24% | 46 |
| TTWO Take-Two Interactive | 1.89% | 201.23 | +0.45% | -1.36% | -5.04% | -21.40% | 25 |
| FER Ferrovial N.V. | 1.89% | 50.19 | -0.73% | -0.81% | -7.47% | -22.32% | 18 |
| FAST Fastenal Company | 1.89% | 52.00 | +1.11% | +4.35% | +5.24% | +30.99% | 80 |
| PAYX Paychex Inc | 1.88% | 108.37 | +2.00% | +6.72% | -8.39% | -2.39% | 13 |
| PCAR Paccar Inc | 1.86% | 108.56 | +0.54% | +1.59% | -11.35% | -0.30% | 9 |
| FANG Diamondback Energy | 1.84% | 197.51 | -0.34% | +7.12% | -6.63% | +32.17% | 20 |
| ABNB Airbnb Inc Cl A | 1.82% | 167.06 | +0.89% | +4.00% | -0.75% | +23.09% | 39 |
| LIN Linde Plc | 1.82% | 492.70 | +0.12% | +1.80% | +6.42% | +15.94% | 82 |
| KHC Kraft Heinz Company | 1.82% | 22.70 | +1.20% | +3.28% | -8.21% | -4.82% | 14 |
| AXON Axon Enterprise | 1.81% | 408.42 | -1.19% | +0.60% | -7.61% | -28.09% | 16 |
| AEP American Electric Power | 1.78% | 126.13 | +0.38% | +3.32% | +4.58% | +10.25% | 73 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 61 |
| SBUX Starbucks Corp | 1.78% | 93.25 | +1.36% | -0.35% | -3.45% | +11.45% | 29 |
| ORLY O'Reilly Automotive | 1.77% | 86.69 | +0.77% | +2.46% | +1.80% | -4.96% | 52 |
| XEL XCEL Energy Inc | 1.77% | 75.36 | +0.96% | +4.06% | +3.96% | +2.78% | 68 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 107.22 | +1.75% | +6.31% | +4.09% | +18.21% | 70 |
| CTAS Cintas Corp | 1.76% | 208.63 | +1.09% | +5.80% | +4.87% | +11.19% | 75 |
| COST Costco Wholesale | 1.75% | 982.00 | +2.87% | +4.22% | +8.95% | +14.20% | 91 |
| MELI Mercadolibre Inc | 1.75% | 1839.11 | -1.97% | -1.80% | +0.56% | -8.70% | 45 |
| AMGN Amgen Inc | 1.74% | 426.11 | +3.21% | +3.15% | +13.43% | +31.09% | 98 |
| WMT Walmart Inc | 1.73% | 116.16 | +3.46% | +7.40% | +7.47% | +4.48% | 88 |
| HON Honeywell International | 1.72% | 207.61 | +0.15% | -0.24% | +2.05% | +2.84% | 57 |
| WBD Discovery Inc Series A | 1.72% | 30.95 | +0.00% | +0.32% | +9.56% | +7.39% | 93 |
| IDXX Idexx Laboratories | 1.71% | 529.01 | +1.67% | +4.41% | +3.58% | -21.81% | 66 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 224.47 | +0.29% | +0.03% | -5.79% | -43.55% | 23 |
| BKNG Booking Holdings | 1.70% | 160.68 | +2.01% | +3.09% | -6.21% | — | 21 |
| PYPL Paypal Holdings | 1.70% | 56.10 | -0.12% | +2.09% | +4.26% | -3.61% | 71 |
| VRTX Vertex Pharmaceutic | 1.70% | 498.50 | +2.74% | -1.41% | -3.13% | +9.96% | 32 |
| EXC Exelon Corp | 1.68% | 42.60 | +0.61% | +2.68% | +0.95% | -1.43% | 48 |
| PEP Pepsico Inc | 1.66% | 129.27 | +1.55% | +4.48% | -4.60% | -9.12% | 27 |
| GILD Gilead Sciences Inc | 1.65% | 153.54 | +3.80% | +4.56% | +4.95% | +25.80% | 77 |
| CEG Constellation Energy Corp | 1.64% | 279.54 | -5.49% | -6.69% | +7.56% | -20.76% | 89 |
| CPRT Copart Inc | 1.64% | 26.27 | -0.38% | -1.31% | -15.37% | -32.90% | 4 |
| GEHC GE Healthcare Technologies | 1.60% | 68.47 | -0.47% | +5.88% | +6.87% | -16.45% | 86 |
| VRSK Verisk Analytics Inc | 1.56% | 180.58 | +2.22% | +7.05% | +0.28% | -19.07% | 41 |
| NFLX Netflix Inc | 1.55% | 70.57 | +0.16% | +1.25% | -9.41% | -24.73% | 11 |
| ISRG Intuitive Surg Inc | 1.53% | 420.24 | -0.43% | +1.38% | +11.42% | -25.80% | 96 |
| REGN Regeneron Pharmaceuticals | 1.50% | 778.36 | +3.35% | +4.88% | +0.55% | +0.96% | 43 |
| TMUS T-Mobile US | 1.49% | 157.79 | +2.64% | -5.88% | -12.57% | -21.91% | 7 |
| CMCSA Comcast Corp A | 1.41% | 21.05 | +0.81% | +0.53% | -13.80% | -23.09% | 5 |
| INSM Insmed Inc | 1.35% | 97.79 | +1.03% | -3.88% | -18.45% | -43.81% | 2 |
| LITE Lumentum Holdings | 1.30% | 896.33 | -9.28% | -19.33% | +6.84% | +143.18% | 84 |
| CHTR Charter Communications | 1.06% | 105.14 | -1.69% | -1.70% | -25.54% | -49.63% | 0 |
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 2026-10-14: over 21 sessions the fund returned +0.49% while its median constituent returned +1.16% — a dispersion of 7.75 pp; 57% of 56 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 QQXT's members trade in the last session?
As of 2026-10-14: fund +0.22%, median member +0.71%, 38 advancers vs 16 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.