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 | -8.85% | -0.84 | +5pp | +0.13pp | Confirming ↓ |
| 1 month | -15.78% | -1.8 | +17pp | +5.51pp | Confirming ↓ |
| 1 quarter | -7.94% | -0.22 | +14pp | +4.10pp | Confirming ↓ |
Over the last 126 sessions: price up +0.28%, breadth down (-0.44/name) · % beating 40→61 · median−ETF -6.35pp→+3.79pp.
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 2026-11-04.
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 | 14 (31%) | 18 (40%) | -4 |
| 1-Month | 6 (13%) | 13 (29%) | -7 |
| 3-Month | 3 (7%) | 12 (27%) | -9 |
| 6-Month | 3 (7%) | 8 (18%) | -5 |
| 52-Week | 3 (7%) | 0 (0%) | +3 |
| YTD | 3 (7%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.53% | +0.02% | +0.55pp | 23 / 22 | 25 / 20 | 5 of 45 | ±5.43% |
| 5d | -8.85% | -5.66% | +3.20pp | 13 / 32 | 26 / 19 | 2 of 45 | ±12.08% |
| 21d | -15.78% | -13.38% | +2.41pp | 14 / 31 | 27 / 18 | 2 of 45 | ±18.6% |
| YTD | +24.49% | +15.19% | -9.30pp | 27 / 18 | 19 / 26 | 1 of 45 | ±72.01% |
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)
- APP+10.69%+0.21pp
- QCOM+5.33%+0.15pp
- DASH+8.33%+0.13pp
- MSFT+6.68%+0.11pp
- SHOP+7.34%+0.11pp
- DDOG-14.42%-0.43pp
- MRVL-7.08%-0.39pp
- SNDK-13.47%-0.35pp
- STX-8.13%-0.28pp
- MU-7.00%-0.25pp
This month (21d)
- ROP+35.87%+0.51pp
- TRI+19.51%+0.27pp
- ADSK+16.78%+0.24pp
- INTU+23.63%+0.24pp
- NXPI+8.44%+0.22pp
- MRVL-44.31%-2.42pp
- INTC-48.20%-1.87pp
- ARM-36.61%-1.65pp
- STX-30.85%-1.06pp
- AMD-24.74%-0.97pp
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)
- ROP+35.87%
- INTU+23.63%
- TRI+19.51%
- ADSK+16.78%
- CTSH+14.96%
- INTC-48.20%
- MRVL-44.31%
- ARM-36.61%
- SNDK-35.62%
- LRCX-33.68%
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% | 159.80 | -7.08% | -36.50% | -44.31% | +88.27% | 2 |
| ARM Arm Holdings Plc ADR | 4.51% | 191.80 | -5.28% | -18.69% | -36.61% | +75.46% | 4 |
| AMD Adv Micro Devices | 3.94% | 488.78 | +1.01% | -15.50% | -24.74% | +128.23% | 20 |
| INTC Intel Corp | 3.87% | 58.27 | -3.77% | -39.00% | -48.20% | +57.91% | 0 |
| MU Micron Technology | 3.57% | 795.23 | -7.00% | -19.12% | -23.93% | +178.74% | 24 |
| STX Seagate Technology Holdings | 3.42% | 557.06 | -8.13% | -20.19% | -30.85% | +102.63% | 16 |
| WDC Western Digital Corp | 2.98% | 323.83 | -6.77% | -18.31% | -21.22% | +88.07% | 27 |
| DDOG Datadog Inc Cl A | 2.95% | 188.72 | -14.42% | -32.22% | -32.17% | +38.77% | 13 |
| QCOM Qualcomm Inc | 2.83% | 173.19 | +5.33% | -5.35% | -4.33% | +1.90% | 62 |
| FTNT Fortinet Inc | 2.79% | 129.39 | +1.00% | -25.67% | -32.35% | +62.94% | 11 |
| CRWD Crowdstrike Holdings | 2.67% | 241.00 | -1.50% | -9.62% | -13.58% | +105.65% | 44 |
| SNDK Sandisk Corp | 2.63% | 1150.89 | -13.47% | -7.04% | -35.62% | +384.83% | 7 |
| PANW Palo Alto Networks | 2.60% | 348.04 | -0.62% | -11.77% | -17.12% | +88.95% | 31 |
| NXPI Nxp Semiconductors | 2.55% | 265.01 | +0.84% | +5.29% | +8.44% | +22.72% | 87 |
| TXN Texas Instruments | 2.47% | 311.49 | -0.32% | +1.03% | +4.80% | +80.72% | 78 |
| MPWR Monolithic Power Sys | 2.35% | 1261.08 | -5.06% | +4.12% | -14.43% | +39.41% | 42 |
| MCHP Microchip Technology | 2.32% | 75.34 | -3.29% | -5.39% | -7.29% | +18.93% | 58 |
| LRCX Lam Research Corp | 2.23% | 221.43 | -4.03% | -12.76% | -33.68% | +29.60% | 9 |
| CDNS Cadence Design Sys | 2.20% | 329.52 | +1.78% | -3.78% | -8.35% | +5.42% | 56 |
| KLAC K L A-Tencor Corp | 2.16% | 149.79 | -4.10% | -5.66% | -24.14% | +23.73% | 22 |
| AMAT Applied Materials | 2.13% | 369.40 | -3.28% | -11.20% | -30.34% | +43.92% | 18 |
| ADI Analog Devices | 2.10% | 406.24 | -3.23% | -5.14% | -3.40% | +50.26% | 64 |
| AVGO Broadcom Ltd | 2.05% | 325.48 | -2.00% | -7.48% | -13.39% | -5.76% | 47 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1496.30 | -3.60% | -10.02% | -18.42% | +40.35% | 29 |
| NVDA Nvidia Corp | 1.92% | 200.13 | -3.17% | -7.08% | -16.35% | +7.44% | 38 |
| APP Applovin Corp Cl A | 1.92% | 271.75 | +10.69% | +4.53% | -2.52% | -59.67% | 67 |
| AAPL Apple Inc | 1.90% | 349.51 | +5.31% | +1.65% | +4.76% | +28.68% | 73 |
| SNPS Synopsys Inc | 1.78% | 462.95 | +0.02% | -3.93% | -8.36% | -1.44% | 53 |
| MSFT Microsoft Corp | 1.70% | 555.80 | +6.68% | +4.67% | +5.01% | +15.19% | 80 |
| WDAY Workday Inc | 1.65% | 201.84 | +1.97% | -1.23% | +8.20% | -6.02% | 84 |
| META META Platforms Inc | 1.60% | 630.00 | +1.44% | +2.86% | -14.74% | -4.48% | 40 |
| ADBE Adobe Systems Inc | 1.58% | 248.48 | +0.95% | -0.51% | +4.35% | -29.00% | 71 |
| DASH Doordash Inc Cl A | 1.55% | 198.59 | +8.33% | +17.17% | +2.57% | -12.31% | 69 |
| SHOP Shopify Inc | 1.51% | 153.03 | +7.34% | -9.03% | -6.94% | -4.93% | 60 |
| MSTR Strategy Inc | 1.45% | 142.54 | +5.09% | -1.80% | -13.38% | -6.19% | 49 |
| ADSK Autodesk Inc | 1.43% | 270.09 | +7.04% | +11.43% | +16.78% | -8.76% | 91 |
| PLTR Palantir Technologies Cl A | 1.43% | 171.70 | -2.11% | -12.76% | -10.61% | -3.40% | 51 |
| ROP Roper Industries | 1.42% | 492.22 | +3.94% | +11.70% | +35.87% | +11.09% | 98 |
| TRI Thomson Reuters Corp | 1.37% | 117.23 | +6.40% | +0.98% | +19.51% | -9.13% | 93 |
| PDD Pdd Holdings Inc | 1.35% | 82.15 | +2.47% | +6.04% | +4.78% | -27.55% | 76 |
| ZS Zscaler Inc | 1.35% | 224.44 | -0.29% | -12.26% | +5.74% | -0.21% | 82 |
| CTSH Cognizant Tech Sol | 1.31% | 65.78 | +3.05% | -0.87% | +14.96% | -20.34% | 89 |
| INTU Intuit Inc | 1.01% | 356.64 | +3.46% | +8.67% | +23.63% | -45.90% | 96 |
| GOOGL Alphabet Cl A | 0.94% | 288.93 | +3.18% | -11.07% | -16.90% | -7.63% | 33 |
| GOOG Alphabet Cl C | 0.94% | 287.30 | +3.25% | -10.75% | -16.63% | -8.38% | 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 2026-11-04: over 21 sessions the fund returned -15.78% while its median constituent returned -13.38% — a dispersion of 18.60 pp; 60% of 45 members beat the fund. Broad decline - breadth is falling with price.
How did QTEC's members trade in the last session?
As of 2026-11-04: fund -0.53%, median member +0.02%, 23 advancers vs 22 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.