Constituent dispersion · breadth vs the index
QTUM — Defiance Quantum
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 | -3.21% | -1.19 | -4pp | -0.75pp | Confirming ↓ |
| 1 month | -2.58% | -1.65 | -12pp | -3.06pp | Confirming ↓ |
| 1 quarter | -12.23% | -4.24 | -4pp | +1.57pp | Confirming ↓ |
Over the last 126 sessions: price up +33.60%, breadth up (+1.4/name) · % beating 50→40 · median−ETF +0.45pp→-2.73pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.97% | +0.71% | -0.25pp | 42 / 18 | 29 / 33 | 28 of 62 | ±3.13% |
| 5d | -3.21% | -3.89% | -0.69pp | 13 / 48 | 29 / 33 | 9 of 62 | ±5.49% |
| 21d | -2.58% | -5.31% | -2.73pp | 20 / 42 | 25 / 37 | 7 of 62 | ±11.99% |
| YTD | +33.52% | +13.09% | -20.43pp | 40 / 20 | 24 / 36 | 0 of 60 | ±53.5% |
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)
- SNOW+16.55%+0.15pp
- HPE+5.04%+0.08pp
- ARM+3.29%+0.08pp
- ALAB+3.17%+0.06pp
- ESTC+7.31%+0.05pp
- BTQ-8.87%-0.05pp
- ASML-2.15%-0.03pp
- COHR-1.57%-0.03pp
- AVGO-2.74%-0.02pp
- NXPI-1.54%-0.02pp
This month (21d)
- ESTC+37.88%+0.25pp
- MU+7.27%+0.23pp
- CRM+37.02%+0.2pp
- SNOW+12.51%+0.12pp
- NTNX+11.68%+0.1pp
- MKSI-20.27%-0.37pp
- COHR-19.44%-0.34pp
- AMAT-18.41%-0.33pp
- NVEC-22.26%-0.31pp
- ARM-11.65%-0.27pp
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)
- ESTC+37.88%
- CRM+37.02%
- PLTR+15.21%
- ACN+13.11%
- SNOW+12.51%
- BTQ-26.05%
- NVEC-22.26%
- QBTS-21.37%
- MKSI-20.27%
- COHR-19.44%
QTUM — constituent leadership race
$100 in each covered QTUM 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 — 62 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MU Micron Technology | 3.19% | 958.16 | +0.22% | +2.43% | +7.27% | +235.85% | 85 |
| INTC Intel Corp | 2.62% | 91.67 | +1.80% | -0.46% | -9.29% | +148.43% | 34 |
| MRVL Marvell Technology Inc | 2.59% | 208.83 | +1.14% | -13.51% | -1.04% | +146.04% | 66 |
| STM Stmicroelectronics N.V. ADR | 2.52% | 51.28 | +1.12% | -0.12% | -2.82% | +98.25% | 56 |
| ARM Arm Holdings Plc ADR | 2.30% | 242.59 | +3.29% | -4.94% | -11.65% | +121.93% | 19 |
| NOK Nokia Corp ADR | 2.04% | 9.77 | -0.71% | -7.74% | +1.98% | +52.09% | 71 |
| AMD Adv Micro Devices | 1.98% | 456.16 | -0.20% | -4.30% | -5.37% | +113.00% | 48 |
| ALAB Astera Labs Inc | 1.91% | 282.82 | +3.17% | -6.99% | -11.18% | +70.00% | 23 |
| LRCX Lam Research Corp | 1.87% | 292.66 | +1.51% | -8.14% | -4.80% | +71.29% | 52 |
| MKSI Mks Inc | 1.82% | 249.65 | -0.69% | -7.87% | -20.27% | +56.38% | 5 |
| ON On Semiconductor | 1.82% | 73.65 | +1.81% | -1.54% | -4.24% | +36.01% | 53 |
| TSEM Tower Semiconductor | 1.78% | 206.16 | -0.31% | -6.23% | -2.36% | +75.57% | 60 |
| AMAT Applied Materials | 1.77% | 435.91 | -0.58% | -9.63% | -18.41% | +69.83% | 8 |
| COHR Coherent Corp | 1.77% | 264.41 | -1.57% | -10.49% | -19.44% | +43.26% | 6 |
| KLAC K L A-Tencor Corp | 1.76% | 172.94 | +0.39% | -5.89% | -10.20% | — | 27 |
| TER Teradyne Inc | 1.69% | 338.59 | -0.89% | -9.00% | -13.05% | +75.00% | 15 |
| ONTO Onto Innovation Inc | 1.65% | 252.46 | -0.82% | -13.72% | -8.53% | +59.93% | 39 |
| HPE Hewlett Packard Enterprise | 1.63% | 54.44 | +5.04% | +0.06% | +2.29% | +128.11% | 74 |
| LSCC Lattice Semicond | 1.58% | 113.63 | -0.22% | -5.68% | -11.44% | +54.43% | 21 |
| ASML ASML Holdings NY Reg ADR | 1.42% | 1646.19 | -2.15% | -5.12% | -1.91% | +54.41% | 63 |
| TXN Texas Instruments | 1.42% | 253.83 | -0.38% | -4.77% | -8.60% | +47.26% | 37 |
| NVEC Nve Corp | 1.38% | 98.56 | +0.06% | -7.96% | -22.26% | — | 2 |
| CSCO Cisco Systems Inc | 1.29% | 108.61 | -0.78% | -3.16% | -10.61% | +42.52% | 24 |
| ADI Analog Devices | 1.27% | 356.50 | +0.22% | -4.52% | -5.61% | +31.86% | 45 |
| MCHP Microchip Technology | 1.20% | 73.11 | +0.48% | -3.15% | -6.02% | +15.41% | 42 |
| TSM Taiwan Semiconductor ADR | 1.17% | 417.01 | +0.36% | -2.41% | +0.73% | +37.53% | 69 |
| NXPI Nxp Semiconductors | 1.13% | 224.99 | -1.54% | -0.39% | -2.66% | +4.19% | 58 |
| CRUS Cirrus Logic Inc | 1.11% | 113.13 | +0.06% | +2.03% | -12.59% | -4.53% | 18 |
| LMT Lockheed Martin Corp | 0.99% | 532.95 | +0.26% | -5.24% | -7.73% | +10.77% | 40 |
| QCOM Qualcomm Inc | 0.99% | 168.57 | -0.28% | +2.86% | +7.01% | -0.82% | 84 |
| CRWV Coreweave Inc Cl A | 0.98% | 84.56 | +4.49% | -2.58% | -5.93% | +18.08% | 44 |
| HON Honeywell International | 0.98% | 207.63 | +0.76% | -5.79% | -16.07% | +2.85% | 10 |
| CDNS Cadence Design Sys | 0.97% | 304.88 | -0.59% | -12.28% | -9.55% | -2.46% | 31 |
| GOOGL Alphabet Cl A | 0.96% | 342.48 | +1.59% | +0.54% | -5.50% | +9.50% | 47 |
| IONQ Ionq Inc | 0.96% | 39.02 | +3.67% | -8.10% | -2.28% | -13.04% | 61 |
| NVDA Nvidia Corp | 0.96% | 228.45 | +1.80% | +0.21% | +4.21% | +22.64% | 79 |
| NET Cloudflare Inc Cl A | 0.92% | 284.51 | +4.32% | -7.70% | -2.88% | +44.31% | 55 |
| SNOW Snowflake Inc Cl A | 0.92% | 356.47 | +16.55% | +8.31% | +12.51% | +62.50% | 92 |
| RTX Rtx Corp | 0.90% | 202.13 | +0.67% | -4.69% | -8.78% | +10.58% | 35 |
| TDC Teradata Corp | 0.89% | 28.79 | +1.88% | +0.84% | +9.76% | -5.42% | 87 |
| NTNX Nutanix Inc | 0.88% | 68.08 | +1.84% | -2.52% | +11.68% | +31.71% | 90 |
| NOC Northrop Grumman Corp | 0.85% | 528.24 | +0.84% | -2.66% | -5.24% | -7.06% | 50 |
| SNPS Synopsys Inc | 0.82% | 416.31 | +0.08% | -10.45% | +3.86% | -11.37% | 77 |
| BIDU Baidu Inc ADR | 0.79% | 95.58 | +1.31% | -1.40% | -13.98% | -26.85% | 13 |
| AVGO Broadcom Ltd | 0.79% | 357.16 | -2.74% | -3.87% | -14.61% | +3.41% | 11 |
| QBTS D-Wave Quantum Inc | 0.75% | 16.82 | +2.00% | -6.03% | -21.37% | -35.68% | 3 |
| IBM Intl Business Machines | 0.75% | 234.71 | +1.30% | -1.71% | +0.20% | -20.31% | 68 |
| BAH Booz Allen Hamilton Holding Corp | 0.71% | 73.88 | +0.97% | -1.34% | +3.52% | -11.75% | 76 |
| ORCL Oracle Corp | 0.71% | 154.04 | +5.69% | +1.38% | +6.68% | -20.48% | 82 |
| MSFT Microsoft Corp | 0.70% | 510.12 | +2.68% | +1.00% | +4.65% | +5.72% | 81 |
| MDB Mongodb Inc Cl A | 0.69% | 384.45 | +2.41% | -12.74% | +2.15% | -8.40% | 73 |
| RGTI Rigetti Computing Inc | 0.69% | 15.18 | +2.08% | -7.66% | -9.54% | -31.47% | 32 |
| QUBT Quantum Computing Inc | 0.68% | 7.96 | +1.53% | -7.98% | -10.36% | -22.42% | 26 |
| ESTC Elastic N.V. | 0.66% | 96.13 | +7.31% | +14.80% | +37.88% | +27.43% | 98 |
| WIT Wipro Ltd ADR | 0.65% | 1.80 | +0.00% | +0.00% | -10.00% | -34.98% | 29 |
| RDNT Radnet Inc | 0.63% | 74.62 | -1.43% | -0.98% | +11.27% | +4.58% | 89 |
| BABA Alibaba Group Holding ADR | 0.61% | 111.81 | +0.00% | -3.87% | -13.01% | -23.72% | 16 |
| PLTR Palantir Technologies Cl A | 0.58% | 182.53 | +7.71% | -1.83% | +15.21% | +2.69% | 95 |
| BTQ Btq Technologies Corp | 0.54% | 2.98 | -8.87% | -18.80% | -26.05% | -41.80% | 0 |
| CRM Salesforce Inc | 0.54% | 264.43 | +2.92% | +4.91% | +37.02% | +0.07% | 97 |
| ACN Accenture Plc | 0.54% | 193.12 | +2.90% | +3.06% | +13.11% | -26.99% | 94 |
| ARQQ Arqit Quantum Inc | 0.40% | 20.62 | +0.39% | -3.91% | -1.67% | -5.76% | 65 |
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
QTUM dispersion — data Q&A
Is QTUM's move broad or carried by a few names (21 sessions)?
As of 2026-09-03: over 21 sessions the fund returned -2.58% while its median constituent returned -5.31% — a dispersion of 11.99 pp; 40% of 62 members beat the fund. Broad decline - breadth is falling with price.
How did QTUM's members trade in the last session?
As of 2026-09-03: fund +0.97%, median member +0.71%, 42 advancers vs 18 decliners.
What does the dispersion page for QTUM 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. 62 constituents covered, re-baked nightly from the Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.