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 | +6.65% | +0.78 | -15pp | -4.98pp | Confirming ↑ |
| 1 month | +5.68% | +0.42 | -6pp | -1.76pp | Confirming ↑ |
| 1 quarter | +2.09% | +0.51 | +0pp | +3.52pp | Confirming ↑ |
Over the last 126 sessions: price up +52.82%, breadth up (+6.02/name) · % beating 40→38 · median−ETF -1.07pp→-3.27pp.
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 2026-09-24.
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 | 9 (20%) | 8 (18%) | +1 |
| 1-Month | 6 (13%) | 3 (7%) | +3 |
| 3-Month | 4 (9%) | 0 (0%) | +4 |
| 6-Month | 4 (9%) | 0 (0%) | +4 |
| 52-Week | 2 (4%) | 0 (0%) | +2 |
| YTD | 3 (7%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.18% | -0.68% | -0.50pp | 13 / 32 | 16 / 29 | 22 of 45 | ±2.28% |
| 5d | +6.65% | +5.50% | -1.15pp | 34 / 11 | 19 / 26 | 4 of 45 | ±7.51% |
| 21d | +5.68% | +2.41% | -3.27pp | 27 / 18 | 17 / 28 | 1 of 45 | ±15.44% |
| YTD | +43.17% | +17.90% | -25.27pp | 32 / 13 | 18 / 27 | 0 of 45 | ±121.7% |
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)
- INTC+3.91%+0.15pp
- AMD+2.38%+0.09pp
- CDNS+4.18%+0.09pp
- META+4.50%+0.07pp
- DDOG+2.16%+0.06pp
- ARM-7.88%-0.36pp
- WDC-4.94%-0.15pp
- SNDK-3.47%-0.09pp
- STX-1.86%-0.06pp
- NXPI-2.24%-0.06pp
This month (21d)
- INTC+45.62%+1.77pp
- AMD+31.32%+1.23pp
- ARM+26.82%+1.21pp
- CRWD+40.07%+1.07pp
- QCOM+21.65%+0.61pp
- DASH-19.69%-0.31pp
- INTU-22.47%-0.23pp
- ADSK-15.87%-0.23pp
- ADBE-12.77%-0.2pp
- ROP-11.94%-0.17pp
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)
- INTC+45.62%
- CRWD+40.07%
- META+36.41%
- AMD+31.32%
- ZS+27.44%
- INTU-22.47%
- DASH-19.69%
- ADSK-15.87%
- ADBE-12.77%
- ROP-11.94%
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% | 258.95 | -0.75% | +7.56% | +7.73% | +205.09% | 62 |
| ARM Arm Holdings Plc ADR | 4.51% | 306.34 | -7.88% | +15.64% | +26.82% | +180.25% | 84 |
| AMD Adv Micro Devices | 3.94% | 629.26 | +2.38% | +15.44% | +31.32% | +193.83% | 91 |
| INTC Intel Corp | 3.87% | 127.39 | +3.91% | +17.09% | +45.62% | +245.23% | 98 |
| MU Micron Technology | 3.57% | 1080.53 | +0.81% | +10.54% | +15.82% | +278.75% | 76 |
| STX Seagate Technology Holdings | 3.42% | 905.92 | -1.86% | +12.89% | +10.25% | +229.53% | 67 |
| WDC Western Digital Corp | 2.98% | 450.31 | -4.94% | +6.24% | -0.10% | +161.52% | 38 |
| DDOG Datadog Inc Cl A | 2.95% | 256.92 | +2.16% | +8.86% | +15.22% | +88.93% | 73 |
| QCOM Qualcomm Inc | 2.83% | 194.26 | -1.51% | +2.94% | +21.65% | +14.30% | 82 |
| FTNT Fortinet Inc | 2.79% | 178.67 | -0.04% | +3.53% | +16.28% | +125.00% | 78 |
| CRWD Crowdstrike Holdings | 2.67% | 259.67 | -1.07% | +5.69% | +40.07% | +121.58% | 96 |
| SNDK Sandisk Corp | 2.63% | 1753.62 | -3.47% | +8.62% | +18.43% | +638.74% | 80 |
| PANW Palo Alto Networks | 2.60% | 389.92 | -0.86% | +3.96% | +14.72% | +111.68% | 71 |
| NXPI Nxp Semiconductors | 2.55% | 230.16 | -2.24% | +0.97% | +2.41% | +6.59% | 49 |
| TXN Texas Instruments | 2.47% | 270.65 | -0.72% | +4.85% | +4.08% | +57.02% | 58 |
| MPWR Monolithic Power Sys | 2.35% | 1335.55 | -1.47% | +14.19% | +2.41% | +47.65% | 51 |
| MCHP Microchip Technology | 2.32% | 74.69 | -1.11% | +5.46% | +1.62% | +17.91% | 44 |
| LRCX Lam Research Corp | 2.23% | 307.16 | -0.04% | +14.18% | -2.38% | +79.78% | 22 |
| CDNS Cadence Design Sys | 2.20% | 322.00 | +4.18% | +14.69% | -2.98% | +3.01% | 20 |
| KLAC K L A-Tencor Corp | 2.16% | 187.11 | -0.40% | +10.73% | +2.06% | +54.56% | 47 |
| AMAT Applied Materials | 2.13% | 474.25 | -0.03% | +13.62% | -1.21% | +84.77% | 33 |
| ADI Analog Devices | 2.10% | 382.61 | -0.68% | +5.50% | +2.71% | +41.52% | 53 |
| AVGO Broadcom Ltd | 2.05% | 350.36 | -1.30% | +1.06% | -1.79% | +1.44% | 24 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1722.50 | -1.27% | +5.70% | -1.24% | +61.57% | 31 |
| NVDA Nvidia Corp | 1.92% | 224.58 | -0.41% | +2.39% | +5.41% | +20.57% | 60 |
| APP Applovin Corp Cl A | 1.92% | 312.47 | -0.88% | -2.84% | +0.62% | -53.63% | 40 |
| AAPL Apple Inc | 1.90% | 335.92 | -0.33% | -0.32% | +8.40% | +23.68% | 64 |
| SNPS Synopsys Inc | 1.78% | 424.91 | +2.87% | +11.48% | +3.94% | -9.54% | 56 |
| MSFT Microsoft Corp | 1.70% | 497.93 | -0.53% | +0.04% | +1.26% | +3.19% | 42 |
| WDAY Workday Inc | 1.65% | 190.99 | -0.72% | -4.16% | -1.76% | -11.08% | 27 |
| META META Platforms Inc | 1.60% | 777.59 | +4.50% | +14.05% | +36.41% | +17.90% | 93 |
| ADBE Adobe Systems Inc | 1.58% | 238.93 | -0.73% | -5.44% | -12.77% | -31.73% | 7 |
| DASH Doordash Inc Cl A | 1.55% | 187.53 | -0.92% | -3.61% | -19.69% | -17.20% | 2 |
| SHOP Shopify Inc | 1.51% | 145.16 | +1.98% | +12.88% | -5.67% | -9.82% | 16 |
| MSTR Strategy Inc | 1.45% | 161.61 | -0.36% | +22.20% | +27.42% | +6.36% | 87 |
| ADSK Autodesk Inc | 1.43% | 211.35 | -2.67% | -3.33% | -15.87% | -28.60% | 4 |
| PLTR Palantir Technologies Cl A | 1.43% | 192.59 | +0.42% | +9.28% | +11.50% | +8.35% | 69 |
| ROP Roper Industries | 1.42% | 364.02 | -0.64% | -2.87% | -11.94% | -17.85% | 9 |
| TRI Thomson Reuters Corp | 1.37% | 100.32 | +1.90% | +0.84% | -3.89% | -22.24% | 18 |
| PDD Pdd Holdings Inc | 1.35% | 78.20 | -1.26% | +0.60% | -10.88% | -31.03% | 11 |
| ZS Zscaler Inc | 1.35% | 214.64 | +0.09% | +8.69% | +27.44% | -4.57% | 89 |
| CTSH Cognizant Tech Sol | 1.31% | 57.17 | -3.33% | -7.61% | -9.34% | -30.77% | 13 |
| INTU Intuit Inc | 1.01% | 277.13 | -3.37% | -11.50% | -22.47% | -57.96% | 0 |
| GOOGL Alphabet Cl A | 0.94% | 342.36 | +1.34% | -1.43% | -1.26% | +9.46% | 29 |
| GOOG Alphabet Cl C | 0.94% | 339.01 | +1.20% | -1.36% | -1.20% | +8.11% | 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 2026-09-24: over 21 sessions the fund returned +5.68% while its median constituent returned +2.41% — a dispersion of 15.44 pp; 38% 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 2026-09-24: fund -0.18%, median member -0.68%, 13 advancers vs 32 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.