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 | -1.69% | -1 | -2pp | +3.78pp | Confirming ↓ |
| 1 month | -7.04% | -0.93 | +23pp | +12.13pp | Confirming ↓ |
| 1 quarter | +15.61% | +0.07 | +18pp | +9.46pp | Confirming ↑ |
Over the last 126 sessions: price up +23.70%, breadth up (+3.22/name) · % beating 42→56 · median−ETF -2.01pp→+4.42pp.
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 2026-07-24.
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 | 4 (9%) | 17 (38%) | -13 |
| 1-Month | 3 (7%) | 10 (22%) | -7 |
| 3-Month | 1 (2%) | 4 (9%) | -3 |
| 6-Month | 0 (0%) | 1 (2%) | -1 |
| 52-Week | 0 (0%) | 1 (2%) | -1 |
| YTD | 0 (0%) | 1 (2%) | -1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -2.43% | -1.28% | +1.15pp | 16 / 29 | 29 / 16 | 11 of 45 | ±4.02% |
| 5d | -1.69% | -2.59% | -0.91pp | 15 / 30 | 20 / 25 | 8 of 45 | ±4.81% |
| 21d | -7.03% | -2.61% | +4.42pp | 19 / 26 | 25 / 20 | 4 of 45 | ±13.12% |
| YTD | +28.23% | +10.81% | -17.42pp | 26 / 18 | 18 / 26 | 0 of 44 | ±102.75% |
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)
- WDAY+5.84%+0.1pp
- ADBE+6.10%+0.1pp
- CTSH+5.67%+0.07pp
- TRI+5.20%+0.07pp
- AAPL+3.53%+0.07pp
- MRVL-7.21%-0.39pp
- ARM-8.14%-0.37pp
- INTC-7.89%-0.31pp
- SNDK-10.79%-0.28pp
- MU-6.99%-0.25pp
This month (21d)
- PANW+13.51%+0.35pp
- DDOG+10.87%+0.32pp
- AAPL+13.63%+0.26pp
- WDAY+14.61%+0.24pp
- CRWD+8.93%+0.24pp
- MRVL-29.80%-1.63pp
- ARM-27.59%-1.24pp
- INTC-29.87%-1.16pp
- SNDK-24.96%-0.66pp
- WDC-19.26%-0.57pp
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)
- WDAY+14.61%
- ADBE+14.52%
- AAPL+13.63%
- PANW+13.51%
- INTU+13.00%
- INTC-29.87%
- MRVL-29.80%
- ARM-27.59%
- SNDK-24.96%
- SNPS-19.50%
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% | 194.23 | -7.21% | +2.94% | -29.80% | +128.84% | 2 |
| ARM Arm Holdings Plc ADR | 4.51% | 260.01 | -8.14% | -2.69% | -27.59% | +137.86% | 4 |
| AMD Adv Micro Devices | 3.94% | 521.95 | -3.29% | +5.28% | +0.43% | +143.72% | 58 |
| INTC Intel Corp | 3.87% | 92.32 | -7.89% | -2.86% | -29.87% | +150.19% | 0 |
| MU Micron Technology | 3.57% | 920.95 | -6.99% | +8.48% | -12.17% | +222.81% | 29 |
| STX Seagate Technology Holdings | 3.42% | 851.69 | -6.75% | +8.13% | -14.25% | +209.81% | 22 |
| WDC Western Digital Corp | 2.98% | 519.80 | -6.90% | +8.92% | -19.26% | +201.88% | 11 |
| DDOG Datadog Inc Cl A | 2.95% | 246.86 | +1.01% | -4.57% | +10.87% | +81.53% | 82 |
| QCOM Qualcomm Inc | 2.83% | 166.97 | -2.42% | -2.80% | -15.42% | -1.76% | 18 |
| FTNT Fortinet Inc | 2.79% | 152.37 | +0.55% | -5.72% | +4.88% | +91.88% | 64 |
| CRWD Crowdstrike Holdings | 2.67% | 183.28 | -0.08% | -9.75% | +8.93% | +56.40% | 73 |
| SNDK Sandisk Corp | 2.63% | 1436.56 | -10.79% | +6.03% | -24.96% | +505.17% | 7 |
| PANW Palo Alto Networks | 2.60% | 323.79 | -0.57% | -9.73% | +13.51% | +75.78% | 91 |
| NXPI Nxp Semiconductors | 2.55% | 269.24 | -2.90% | +1.02% | -8.44% | +24.68% | 36 |
| TXN Texas Instruments | 2.47% | 279.58 | -1.90% | -1.56% | -7.76% | +62.20% | 38 |
| MPWR Monolithic Power Sys | 2.35% | 1333.81 | -4.53% | +1.66% | -6.91% | +47.46% | 44 |
| MCHP Microchip Technology | 2.32% | 78.86 | -3.06% | -2.59% | -14.73% | +24.49% | 20 |
| LRCX Lam Research Corp | 2.23% | 305.21 | -4.56% | -2.58% | -18.57% | +78.64% | 13 |
| CDNS Cadence Design Sys | 2.20% | 326.24 | -1.28% | -1.17% | -12.40% | +4.37% | 27 |
| KLAC K L A-Tencor Corp | 2.16% | 210.52 | -3.75% | -1.05% | -12.46% | — | 24 |
| AMAT Applied Materials | 2.13% | 536.25 | -4.72% | +1.24% | -8.95% | +108.93% | 33 |
| ADI Analog Devices | 2.10% | 371.86 | -2.19% | -0.93% | -10.00% | +37.55% | 31 |
| AVGO Broadcom Ltd | 2.05% | 381.92 | -2.69% | +2.99% | -0.04% | +10.58% | 56 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1757.09 | -2.55% | +0.54% | -0.32% | +64.81% | 53 |
| NVDA Nvidia Corp | 1.92% | 206.84 | -0.92% | +1.99% | +3.94% | +11.04% | 60 |
| APP Applovin Corp Cl A | 1.92% | 391.98 | -1.72% | -7.67% | -15.70% | -41.83% | 16 |
| AAPL Apple Inc | 1.90% | 333.02 | +3.53% | -0.22% | +13.63% | +22.61% | 93 |
| SNPS Synopsys Inc | 1.78% | 373.47 | -0.01% | -2.81% | -19.50% | -20.49% | 9 |
| MSFT Microsoft Corp | 1.70% | 381.70 | +0.03% | -3.08% | +4.44% | -20.89% | 62 |
| WDAY Workday Inc | 1.65% | 135.34 | +5.84% | -6.52% | +14.61% | -36.99% | 98 |
| META META Platforms Inc | 1.60% | 595.19 | -1.80% | -7.87% | +6.73% | -9.75% | 67 |
| ADBE Adobe Systems Inc | 1.58% | 225.11 | +6.10% | -5.12% | +14.52% | -35.68% | 96 |
| DASH Doordash Inc Cl A | 1.55% | 172.91 | +1.85% | -6.10% | -2.82% | -23.65% | 47 |
| SHOP Shopify Inc | 1.51% | 113.75 | +1.56% | -7.94% | -0.37% | -29.33% | 51 |
| MSTR Strategy Inc | 1.45% | 91.67 | -2.09% | -3.35% | -2.61% | -39.67% | 49 |
| ADSK Autodesk Inc | 1.43% | 209.75 | +2.19% | -3.94% | +8.90% | -29.14% | 71 |
| PLTR Palantir Technologies Cl A | 1.43% | 122.92 | -0.36% | -7.15% | +8.30% | -30.85% | 69 |
| ROP Roper Industries | 1.42% | 367.34 | +3.44% | +1.16% | +10.78% | -17.10% | 80 |
| TRI Thomson Reuters Corp | 1.37% | 90.15 | +5.20% | -6.29% | +11.32% | -30.12% | 84 |
| PDD Pdd Holdings Inc | 1.35% | 82.66 | -0.77% | -1.76% | +9.14% | -27.10% | 76 |
| ZS Zscaler Inc | 1.35% | 142.32 | +1.88% | -5.08% | +11.83% | -36.72% | 87 |
| CTSH Cognizant Tech Sol | 1.31% | 45.45 | +5.67% | +1.52% | +9.68% | -44.96% | 78 |
| INTU Intuit Inc | 1.01% | 296.33 | +5.26% | +1.80% | +13.00% | -55.04% | 89 |
| GOOGL Alphabet Cl A | 0.94% | 319.74 | +0.65% | -7.79% | -7.40% | +2.23% | 42 |
| GOOG Alphabet Cl C | 0.94% | 319.09 | +0.24% | -7.81% | -7.52% | +1.76% | 40 |
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.