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 | -1.58% | -0.85 | +24pp | +2.39pp | Confirming ↓ |
| 1 month | -7.28% | -3.96 | +24pp | +3.69pp | Confirming ↓ |
| 1 quarter | -4.17% | -3.42 | +4pp | -0.84pp | Confirming ↓ |
Over the last 126 sessions: price up +4.48%, breadth down (-3/name) · % beating 27→62 · median−ETF -3.82pp→+0.87pp.
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 2026-09-24.
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%) | 8 (31%) | -7 |
| 1-Month | 0 (0%) | 6 (23%) | -6 |
| 3-Month | 0 (0%) | 4 (15%) | -4 |
| 6-Month | 0 (0%) | 3 (12%) | -3 |
| 52-Week | 0 (0%) | 2 (8%) | -2 |
| YTD | 0 (0%) | 3 (12%) | -3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.19% | -1.15% | +0.05pp | 4 / 22 | 14 / 12 | 18 of 26 | ±1.21% |
| 5d | -1.58% | -1.55% | +0.03pp | 8 / 18 | 13 / 13 | 6 of 26 | ±3.46% |
| 21d | -7.28% | -6.41% | +0.87pp | 2 / 24 | 16 / 10 | 4 of 26 | ±4.71% |
| YTD | +10.04% | +10.16% | +0.12pp | 18 / 7 | 13 / 12 | 1 of 25 | ±23.35% |
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)
- NUE+0.40%+0.03pp
- STLD+0.39%+0.02pp
- LYB+0.35%+0.01pp
- IFF+0.16%+0pp
- NEM-1.82%-0.12pp
- ALB-4.60%-0.11pp
- MLM-2.11%-0.09pp
- SHW-1.86%-0.08pp
- BALL-3.67%-0.07pp
This month (21d)
- STLD+1.78%+0.08pp
- NUE+0.17%+0.01pp
- NEM-10.05%-0.66pp
- FCX-9.80%-0.58pp
- CRH-12.72%-0.56pp
- VMC-11.82%-0.54pp
- LIN-3.60%-0.53pp
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)
- STLD+1.78%
- NUE+0.17%
- IFF-1.50%
- MOS-2.39%
- PKG-3.42%
- ALB-18.72%
- IP-14.91%
- CRH-12.72%
- VMC-11.82%
- BALL-11.30%
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% | 468.14 | -0.34% | +2.11% | -3.60% | +10.16% | 77 |
| NUE Nucor Corp | 6.64% | 247.96 | +0.40% | -6.48% | +0.17% | +52.54% | 92 |
| NEM Newmont Mining Corp | 6.53% | 121.30 | -1.82% | -2.48% | -10.05% | +22.01% | 19 |
| FCX Freeport-Mcmoran Inc | 5.87% | 72.08 | -0.69% | +1.74% | -9.80% | +42.58% | 23 |
| STLD Steel Dynamics Inc | 4.67% | 235.20 | +0.39% | -4.14% | +1.78% | +39.23% | 96 |
| VMC Vulcan Materials Company | 4.55% | 241.70 | -1.10% | -1.15% | -11.82% | -14.93% | 12 |
| CRH CRH Plc ADR | 4.38% | 83.96 | -1.49% | -3.16% | -12.72% | -32.24% | 8 |
| SHW Sherwin-Williams Company | 4.37% | 320.40 | -1.86% | -0.17% | -8.57% | -0.90% | 35 |
| APD Air Products and Chemicals | 4.34% | 284.49 | -0.86% | -0.57% | -6.37% | +16.74% | 50 |
| CTVA Corteva Inc | 4.15% | 79.45 | -1.21% | -2.55% | -4.13% | +19.07% | 65 |
| MLM Martin Marietta Materials | 4.14% | 480.10 | -2.11% | -2.90% | -9.57% | -22.69% | 31 |
| ECL Ecolab Inc | 4.10% | 275.37 | -0.49% | +1.36% | -4.89% | +5.18% | 58 |
| PPG PPG Industries | 3.22% | 106.32 | -0.82% | +0.83% | -6.45% | +5.04% | 46 |
| DOW Dow Inc | 2.92% | 28.56 | -0.31% | -3.15% | -4.21% | +24.86% | 62 |
| SW Smurfit Westrock Plc | 2.72% | 46.00 | -1.05% | +1.14% | -6.94% | +21.38% | 38 |
| PKG Packaging Corp of America | 2.44% | 238.11 | -1.19% | +1.08% | -3.42% | +16.14% | 81 |
| ALB Albemarle Corp | 2.41% | 108.25 | -4.60% | -5.91% | -18.72% | -23.28% | 0 |
| IFF International Flavors & Fragrances | 2.41% | 85.85 | +0.16% | +1.59% | -1.50% | +28.15% | 88 |
| DD Dupont Denemours Inc | 2.37% | 130.22 | -0.50% | +1.37% | -3.86% | +8.84% | 69 |
| IP International Paper Company | 2.29% | 34.88 | -2.30% | -1.88% | -14.91% | -9.23% | 4 |
| AMCR Amcor Plc | 2.26% | 42.10 | -1.64% | -0.66% | -9.66% | — | 27 |
| CF Cf Industries Holdings | 2.05% | 118.44 | -1.82% | -11.49% | -6.93% | +54.59% | 42 |
| LYB Lyondellbasell Industries NV | 2.00% | 60.18 | +0.35% | -6.33% | -3.79% | +42.14% | 73 |
| BALL Ball Corporation | 1.84% | 56.66 | -3.67% | -6.73% | -11.30% | +7.68% | 15 |
| AVY Avery Dennison Corp | 1.48% | 169.01 | -2.11% | -1.22% | -5.53% | -6.02% | 54 |
| MOS Mosaic Company | 0.87% | 23.69 | -2.79% | -6.70% | -2.39% | +0.18% | 85 |
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 2026-09-24: over 21 sessions the fund returned -7.28% while its median constituent returned -6.41% — a dispersion of 4.71 pp; 62% of 26 members beat the fund. Broad decline - breadth is falling with price.
How did XLB's members trade in the last session?
As of 2026-09-24: fund -1.19%, median member -1.15%, 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.