Constituent dispersion · breadth vs the index
XLB — Materials Select Sector
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 | -1.15% | -0.65 | +4pp | +0.64pp | Confirming ↓ |
| 1 month | -0.04% | -1.31 | -23pp | -5.96pp | Weakening |
| 1 quarter | +1.94% | +0.19 | -7pp | +0.61pp | Confirming ↑ |
Over the last 126 sessions: price up +1.76%, breadth down (-3.65/name) · % beating 54→35 · median−ETF +0.35pp→-2.01pp.
Stocks above their moving average — participation breadth
Of the 26 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 2026-09-03.
New highs & new lows — by horizon
How many of the 26 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 | 1 (4%) | 6 (23%) | -5 |
| 1-Month | 0 (0%) | 2 (8%) | -2 |
| 3-Month | 0 (0%) | 1 (4%) | -1 |
| 6-Month | 0 (0%) | 0 (0%) | +0 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 0 (0%) | 0 (0%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.62% | -0.78% | -0.15pp | 4 / 22 | 10 / 16 | 17 of 26 | ±1.49% |
| 5d | -1.15% | -1.88% | -0.73pp | 7 / 19 | 11 / 15 | 6 of 26 | ±4.64% |
| 21d | -0.04% | -2.05% | -2.01pp | 9 / 17 | 9 / 17 | 1 of 26 | ±9.62% |
| YTD | +16.55% | +14.41% | -2.14pp | 19 / 6 | 12 / 13 | 0 of 25 | ±25.23% |
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)
- NEM+4.43%+0.29pp
- SHW+0.30%+0.01pp
- PKG+0.44%+0.01pp
- IP+0.39%+0.01pp
- LIN-0.75%-0.11pp
- FCX-1.85%-0.11pp
- ALB-4.06%-0.1pp
- DOW-2.94%-0.09pp
- APD-1.69%-0.07pp
This month (21d)
- NEM+25.06%+1.64pp
- CTVA+12.65%+0.52pp
- CF+18.69%+0.38pp
- ALB+11.21%+0.27pp
- FCX+4.57%+0.27pp
- SHW-10.12%-0.44pp
- VMC-9.09%-0.41pp
- STLD-7.49%-0.35pp
- CRH-7.59%-0.33pp
- MLM-8.03%-0.33pp
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)
- NEM+25.06%
- CF+18.69%
- CTVA+12.65%
- ALB+11.21%
- LYB+9.71%
- IP-12.77%
- DD-11.02%
- SHW-10.12%
- VMC-9.09%
- PKG-8.37%
XLB — constituent leadership race
$100 in each covered XLB constituent at 2025-12-24, 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 — 26 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 14.61% | 482.19 | -0.75% | -0.32% | -1.80% | +13.47% | 54 |
| NUE Nucor Corp | 6.64% | 262.47 | -0.57% | +4.00% | -4.47% | +61.46% | 38 |
| NEM Newmont Mining Corp | 6.53% | 130.43 | +4.43% | -1.20% | +25.06% | +31.20% | 96 |
| FCX Freeport-Mcmoran Inc | 5.87% | 72.56 | -1.85% | -7.47% | +4.57% | +43.53% | 73 |
| STLD Steel Dynamics Inc | 4.67% | 246.03 | -0.65% | +4.32% | -7.49% | +45.64% | 27 |
| VMC Vulcan Materials Company | 4.55% | 260.23 | -1.40% | -4.97% | -9.09% | -8.41% | 12 |
| CRH CRH Plc ADR | 4.38% | 92.04 | -0.68% | -3.70% | -7.59% | -25.72% | 23 |
| SHW Sherwin-Williams Company | 4.37% | 332.26 | +0.30% | -3.75% | -10.12% | +2.77% | 8 |
| APD Air Products and Chemicals | 4.34% | 304.22 | -1.69% | -0.41% | +3.09% | +24.83% | 69 |
| CTVA Corteva Inc | 4.15% | 88.62 | -1.50% | +7.78% | +12.65% | +32.81% | 88 |
| MLM Martin Marietta Materials | 4.14% | 508.94 | -1.57% | -3.56% | -8.03% | -18.05% | 19 |
| ECL Ecolab Inc | 4.10% | 278.97 | -0.33% | -2.43% | -2.28% | +6.55% | 46 |
| PPG PPG Industries | 3.22% | 110.75 | -0.50% | -2.40% | -6.46% | +9.42% | 31 |
| DOW Dow Inc | 2.92% | 30.36 | -2.94% | +1.26% | +2.33% | +32.73% | 65 |
| SW Smurfit Westrock Plc | 2.72% | 45.26 | -0.22% | -6.93% | -5.77% | +19.43% | 35 |
| PKG Packaging Corp of America | 2.44% | 234.57 | +0.44% | -3.74% | -8.37% | +14.41% | 15 |
| ALB Albemarle Corp | 2.41% | 132.16 | -4.06% | -2.66% | +11.21% | -6.33% | 85 |
| IFF International Flavors & Fragrances | 2.41% | 86.46 | -0.55% | -0.45% | -1.83% | +29.06% | 50 |
| DD Dupont Denemours Inc | 2.37% | 131.13 | -1.35% | -5.11% | -11.02% | +9.60% | 4 |
| IP International Paper Company | 2.29% | 36.44 | +0.39% | -8.63% | -12.77% | -5.18% | 0 |
| AMCR Amcor Plc | 2.26% | 45.89 | -1.69% | -1.35% | -3.90% | — | 42 |
| CF Cf Industries Holdings | 2.05% | 137.81 | -1.05% | +9.63% | +18.69% | +79.87% | 92 |
| LYB Lyondellbasell Industries NV | 2.00% | 64.76 | -2.72% | +2.70% | +9.71% | +52.96% | 81 |
| BALL Ball Corporation | 1.84% | 62.93 | -0.58% | -0.38% | -0.88% | +19.60% | 62 |
| AVY Avery Dennison Corp | 1.48% | 173.03 | -0.80% | -2.41% | -1.45% | -3.78% | 58 |
| MOS Mosaic Company | 0.87% | 25.49 | -1.12% | +7.28% | +8.89% | +7.79% | 77 |
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
XLB dispersion — data Q&A
Is XLB's move broad or carried by a few names (21 sessions)?
As of 2026-09-03: over 21 sessions the fund returned -0.04% while its median constituent returned -2.05% — a dispersion of 9.62 pp; 35% of 26 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did XLB's members trade in the last session?
As of 2026-09-03: fund -0.62%, median member -0.78%, 4 advancers vs 22 decliners.
What does the dispersion page for XLB 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. 26 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.