Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 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 | -6.95% | -1.44 | +2pp | +1.27pp | Confirming ↓ |
| 1 month | +2.86% | +0.82 | -11pp | -2.31pp | Confirming ↑ |
| 1 quarter | +2.78% | -0.36 | -13pp | -4.36pp | Weakening |
Over the last 126 sessions: price up +28.09%, breadth up (+2.64/name) · % beating 42→49 · median−ETF -3.30pp→-0.05pp.
Stocks above their moving average — participation breadth
Of the 45 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 45 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 (13%) | 31 (69%) | -25 |
| 1-Month | 3 (7%) | 8 (18%) | -5 |
| 3-Month | 1 (2%) | 3 (7%) | -2 |
| 6-Month | 1 (2%) | 1 (2%) | +0 |
| 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 | -3.64% | -3.27% | +0.37pp | 8 / 37 | 25 / 20 | 18 of 45 | ±2.5% |
| 5d | -6.95% | -4.52% | +2.43pp | 13 / 32 | 28 / 17 | 7 of 45 | ±7.02% |
| 21d | +2.86% | +2.80% | -0.05pp | 29 / 16 | 22 / 23 | 6 of 45 | ±10.06% |
| YTD | +35.73% | +12.48% | -23.26pp | 33 / 12 | 19 / 26 | 0 of 45 | ±95.44% |
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)
- INTU+2.98%+0.03pp
- ADBE+1.86%+0.03pp
- WDAY+1.48%+0.02pp
- CTSH+1.86%+0.02pp
- ROP+1.16%+0.02pp
- MRVL-8.73%-0.48pp
- ARM-6.81%-0.31pp
- AMD-5.73%-0.23pp
- INTC-4.56%-0.18pp
- STX-4.50%-0.15pp
This month (21d)
- MRVL+10.64%+0.58pp
- SNPS+30.52%+0.54pp
- AMD+13.21%+0.52pp
- DDOG+16.96%+0.5pp
- SHOP+32.84%+0.5pp
- APP-20.90%-0.4pp
- WDC-11.62%-0.35pp
- STX-7.48%-0.26pp
- QCOM-8.08%-0.23pp
- SNDK-8.33%-0.22pp
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)
- SHOP+32.84%
- SNPS+30.52%
- CDNS+20.26%
- DDOG+16.96%
- PLTR+16.46%
- APP-20.90%
- WDC-11.62%
- SNDK-8.33%
- QCOM-8.08%
- STX-7.48%
QTEC — constituent leadership race
$100 in each covered QTEC 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 — 45 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MRVL Marvell Technology Inc | 5.46% | 245.28 | -8.73% | -13.82% | +10.64% | +188.98% | 80 |
| ARM Arm Holdings Plc ADR | 4.51% | 238.01 | -6.81% | -19.15% | -1.58% | +117.74% | 22 |
| AMD Adv Micro Devices | 3.94% | 570.82 | -5.73% | -11.62% | +13.21% | +166.54% | 84 |
| INTC Intel Corp | 3.87% | 98.12 | -4.56% | -13.26% | +1.01% | +165.91% | 40 |
| MU Micron Technology | 3.57% | 914.13 | -4.08% | -15.97% | -1.45% | +220.42% | 24 |
| STX Seagate Technology Holdings | 3.42% | 713.54 | -4.50% | -11.64% | -7.48% | +159.55% | 9 |
| WDC Western Digital Corp | 2.98% | 364.10 | -4.36% | -10.19% | -11.62% | +111.46% | 2 |
| DDOG Datadog Inc Cl A | 2.95% | 269.33 | -4.94% | -0.74% | +16.96% | +98.05% | 91 |
| QCOM Qualcomm Inc | 2.83% | 172.62 | -2.40% | -2.54% | -8.08% | +1.57% | 7 |
| FTNT Fortinet Inc | 2.79% | 184.05 | -3.52% | -2.76% | +6.78% | +131.77% | 69 |
| CRWD Crowdstrike Holdings | 2.67% | 249.29 | -4.56% | -6.08% | +2.80% | +112.72% | 49 |
| SNDK Sandisk Corp | 2.63% | 1403.34 | -5.33% | -17.08% | -8.33% | +491.18% | 4 |
| PANW Palo Alto Networks | 2.60% | 375.04 | -5.54% | -7.53% | -0.01% | +103.60% | 33 |
| NXPI Nxp Semiconductors | 2.55% | 220.83 | -2.43% | -6.12% | -2.00% | +2.26% | 20 |
| TXN Texas Instruments | 2.47% | 280.65 | -2.50% | -2.88% | +6.54% | +62.82% | 67 |
| MPWR Monolithic Power Sys | 2.35% | 1243.11 | -5.79% | -12.82% | +8.81% | +37.43% | 73 |
| MCHP Microchip Technology | 2.32% | 71.25 | -3.92% | -8.68% | -0.34% | +12.48% | 31 |
| LRCX Lam Research Corp | 2.23% | 286.92 | -4.71% | -12.93% | +6.04% | +67.93% | 60 |
| CDNS Cadence Design Sys | 2.20% | 329.46 | -1.42% | -7.49% | +20.26% | +5.40% | 93 |
| KLAC K L A-Tencor Corp | 2.16% | 178.81 | -2.82% | -9.16% | +6.42% | +47.71% | 64 |
| AMAT Applied Materials | 2.13% | 446.63 | -3.79% | -14.22% | +6.05% | +74.01% | 62 |
| ADI Analog Devices | 2.10% | 403.57 | -2.68% | -1.59% | +11.68% | +49.27% | 82 |
| AVGO Broadcom Ltd | 2.05% | 346.25 | -3.10% | -8.04% | +2.24% | +0.25% | 44 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1650.00 | -3.94% | -8.59% | +3.68% | +54.77% | 53 |
| NVDA Nvidia Corp | 1.92% | 221.30 | -3.16% | -6.81% | +4.30% | +18.80% | 56 |
| APP Applovin Corp Cl A | 1.92% | 262.19 | -3.71% | -6.79% | -20.90% | -61.09% | 0 |
| AAPL Apple Inc | 1.90% | 342.96 | +0.50% | +1.87% | +3.51% | +26.27% | 51 |
| SNPS Synopsys Inc | 1.78% | 479.93 | -2.95% | -4.52% | +30.52% | +2.17% | 96 |
| MSFT Microsoft Corp | 1.70% | 533.69 | -1.80% | +0.74% | +7.36% | +10.61% | 71 |
| WDAY Workday Inc | 1.65% | 188.77 | +1.48% | +2.45% | -1.00% | -12.11% | 29 |
| META META Platforms Inc | 1.60% | 737.54 | -3.27% | +2.25% | +10.13% | +11.83% | 76 |
| ADBE Adobe Systems Inc | 1.58% | 240.68 | +1.86% | +3.40% | -6.63% | -31.23% | 13 |
| DASH Doordash Inc Cl A | 1.55% | 184.01 | -4.70% | -3.78% | -7.19% | -18.75% | 11 |
| SHOP Shopify Inc | 1.51% | 172.50 | -2.28% | +3.90% | +32.84% | +7.16% | 98 |
| MSTR Strategy Inc | 1.45% | 143.24 | -5.87% | -6.60% | +10.52% | -5.73% | 78 |
| ADSK Autodesk Inc | 1.43% | 231.14 | +0.31% | -1.66% | +2.05% | -21.91% | 42 |
| PLTR Palantir Technologies Cl A | 1.43% | 200.97 | -3.69% | +3.53% | +16.46% | +13.06% | 89 |
| ROP Roper Industries | 1.42% | 372.69 | +1.16% | +3.94% | -2.93% | -15.89% | 18 |
| TRI Thomson Reuters Corp | 1.37% | 105.40 | +0.25% | +6.16% | +2.72% | -18.30% | 47 |
| PDD Pdd Holdings Inc | 1.35% | 81.45 | -0.62% | +3.76% | +4.32% | -28.17% | 58 |
| ZS Zscaler Inc | 1.35% | 220.79 | -3.44% | +3.39% | +13.87% | -1.84% | 87 |
| CTSH Cognizant Tech Sol | 1.31% | 62.47 | +1.86% | +9.46% | -1.28% | -24.35% | 27 |
| INTU Intuit Inc | 1.01% | 310.44 | +2.98% | +4.93% | -5.72% | -52.90% | 16 |
| GOOGL Alphabet Cl A | 0.94% | 347.64 | -1.74% | -0.82% | +0.77% | +11.15% | 38 |
| GOOG Alphabet Cl C | 0.94% | 343.65 | -1.68% | -1.07% | +0.65% | +9.59% | 36 |
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
QTEC dispersion — data Q&A
Is QTEC's move broad or carried by a few names (21 sessions)?
As of 2026-10-14: over 21 sessions the fund returned +2.86% while its median constituent returned +2.80% — a dispersion of 10.06 pp; 49% of 45 members beat the fund. Broad advance - breadth is rising with price.
How did QTEC's members trade in the last session?
As of 2026-10-14: fund -3.64%, median member -3.27%, 8 advancers vs 37 decliners.
What does the dispersion page for QTEC 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. 45 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.