Constituent dispersion · breadth vs the index
XLF — Financial 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 | +0.00% | -0.45 | +4pp | +0.55pp | Weakening |
| 1 month | +0.50% | -0.61 | +1pp | +0.23pp | Weakening |
| 1 quarter | +11.09% | +4.89 | +1pp | +0.51pp | Confirming ↑ |
Over the last 126 sessions: price up +13.39%, breadth up (+5.97/name) · % beating 51→50 · median−ETF +0.09pp→+0.00pp.
Stocks above their moving average — participation breadth
Of the 76 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 2026-09-04.
New highs & new lows — by horizon
How many of the 76 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 | 12 (16%) | 7 (9%) | +5 |
| 1-Month | 3 (4%) | 1 (1%) | +2 |
| 3-Month | 3 (4%) | 0 (0%) | +3 |
| 6-Month | 3 (4%) | 0 (0%) | +3 |
| 52-Week | 2 (3%) | 0 (0%) | +2 |
| YTD | 2 (3%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.79% | -0.93% | -0.15pp | 14 / 62 | 34 / 42 | 55 of 76 | ±1.09% |
| 5d | +0.00% | +0.23% | +0.23pp | 43 / 33 | 43 / 33 | 32 of 76 | ±2.96% |
| 21d | +0.50% | +0.50% | +0.00pp | 40 / 36 | 38 / 38 | 13 of 76 | ±6.46% |
| YTD | +6.63% | +7.15% | +0.53pp | 54 / 22 | 39 / 37 | 3 of 76 | ±16.93% |
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)
- WFC+0.87%+0.03pp
- MS+0.26%+0.01pp
- BEN+3.52%+0pp
- BNY+0.31%+0pp
- GS+0.07%+0pp
- JPM-0.94%-0.11pp
- V-0.97%-0.07pp
- MA-1.11%-0.06pp
- BRK.B-0.41%-0.05pp
- PGR-2.20%-0.03pp
This month (21d)
- HOOD+34.62%+0.34pp
- SPGI+9.44%+0.16pp
- COIN+26.98%+0.13pp
- WFC+3.31%+0.11pp
- V+1.43%+0.1pp
- BRK.B-3.54%-0.42pp
- AXP-4.80%-0.11pp
- AON-10.44%-0.1pp
- CB-3.51%-0.06pp
- AFL-7.46%-0.05pp
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)
- HOOD+34.62%
- COIN+26.98%
- FDS+9.97%
- SPGI+9.44%
- ICE+7.69%
- AON-10.44%
- PYPL-8.06%
- AFL-7.46%
- GL-6.32%
- L-5.76%
XLF — constituent leadership race
$100 in each covered XLF 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 — 76 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| BRK.B Berkshire Hathaway Cl B | 11.80% | 506.03 | -0.41% | +0.20% | -3.54% | +0.67% | 21 |
| JPM JP Morgan Chase & Company | 11.38% | 358.64 | -0.94% | +0.29% | +0.66% | +12.38% | 54 |
| V Visa Inc | 7.13% | 375.07 | -0.97% | -1.71% | +1.43% | +7.17% | 59 |
| MA Mastercard Inc | 5.25% | 579.21 | -1.11% | -2.70% | +0.57% | +1.79% | 50 |
| BAC Bank of America Corp | 4.89% | 62.68 | -0.06% | +1.09% | -0.51% | +14.61% | 43 |
| GS Goldman Sachs Group | 4.19% | 1038.61 | +0.07% | +0.94% | +0.58% | +18.78% | 53 |
| WFC Wells Fargo & Company | 3.41% | 89.97 | +0.87% | +3.78% | +3.31% | -2.99% | 75 |
| MS Morgan Stanley | 3.39% | 217.72 | +0.26% | +1.37% | +1.86% | +23.98% | 66 |
| C Citigroup Inc | 3.21% | 137.72 | -0.30% | +3.63% | +2.91% | +19.20% | 72 |
| AXP American Express Company | 2.29% | 326.16 | -1.11% | -2.11% | -4.80% | -11.36% | 8 |
| SCHW The Charles Schwab Corp | 2.00% | 109.29 | -0.99% | -0.79% | +1.81% | +9.76% | 64 |
| BLK Blackrock Inc | 1.96% | 1122.29 | -0.34% | -3.62% | -0.62% | +5.44% | 41 |
| SPGI S&P Global Inc | 1.69% | 443.51 | -1.57% | +0.14% | +9.44% | -14.74% | 95 |
| CB Chubb Ltd | 1.57% | 341.59 | -1.91% | +0.49% | -3.51% | +9.76% | 22 |
| PGR Progressive Corp | 1.57% | 218.95 | -2.20% | +0.14% | +1.68% | +2.31% | 63 |
| COF Capital One Financial Corp | 1.52% | 219.60 | -0.41% | +1.82% | -0.18% | -8.65% | 46 |
| BNY Bank of New York Mellon Corp | 1.30% | 164.84 | +0.31% | +1.44% | +3.79% | +43.19% | 76 |
| CME CME Group | 1.28% | 281.29 | -0.27% | -1.58% | +6.42% | +5.47% | 91 |
| PNC PNC Bank | 1.26% | 245.60 | +0.17% | +1.40% | -2.83% | +19.48% | 26 |
| BX Blackstone Inc | 1.21% | 136.15 | -1.11% | -4.38% | +2.02% | -9.82% | 67 |
| USB U.S. Bancorp | 1.21% | 63.37 | -0.25% | +1.44% | -0.69% | +19.99% | 39 |
| MRSH Marsh & Mclennan Companies | 1.07% | 185.74 | -1.44% | -3.58% | -3.91% | +1.14% | 17 |
| ICE Intercontinental Exchange | 1.05% | 161.26 | -2.02% | -0.66% | +7.69% | -0.11% | 93 |
| HOOD Robinhood Markets Inc Cl A | 0.97% | 122.11 | -2.09% | +17.12% | +34.62% | +7.97% | 99 |
| AON AON Plc | 0.95% | 323.09 | -1.20% | -9.09% | -10.44% | -8.00% | 0 |
| MCO Moody's Corp | 0.90% | 493.55 | -2.13% | -4.16% | +4.54% | -2.95% | 82 |
| KKR KKR & Company LP | 0.87% | 107.73 | -1.85% | -0.87% | +4.44% | -15.17% | 79 |
| TRV The Travelers Companies | 0.87% | 369.35 | -1.33% | -0.15% | -4.31% | +27.80% | 12 |
| TFC Truist Financial Corp | 0.86% | 51.65 | +0.08% | +2.42% | -0.81% | +7.14% | 38 |
| APO Apollo Asset Management | 0.82% | 133.67 | -0.61% | -1.01% | +4.44% | -6.89% | 80 |
| ALL Allstate Corp | 0.76% | 259.57 | -1.35% | +0.03% | -5.65% | +25.99% | 7 |
| AJG Arthur J. Gallagher & Company | 0.74% | 262.69 | -1.49% | -1.82% | +4.35% | +2.16% | 78 |
| AFL Aflac Inc | 0.72% | 117.21 | -0.97% | +0.59% | -7.46% | +7.41% | 3 |
| FITB Fifth Third Bancorp | 0.65% | 54.87 | -0.18% | +0.61% | -3.67% | +18.28% | 18 |
| MET Metlife Inc | 0.64% | 97.62 | -1.62% | +1.15% | -2.33% | +25.50% | 28 |
| STT State Street Corp | 0.62% | 194.26 | +0.16% | +0.48% | +5.05% | +52.58% | 86 |
| MSCI MSCI Inc | 0.58% | 573.01 | -0.29% | +0.39% | +1.38% | +0.63% | 58 |
| AMP Ameriprise Financial Services | 0.55% | 560.56 | -0.80% | +0.22% | +0.13% | +15.08% | 47 |
| IBKR Interactive Brokers | 0.53% | 92.62 | -0.36% | -3.27% | +7.67% | +44.32% | 92 |
| AIG American International Group | 0.53% | 76.21 | -0.85% | -0.94% | -4.70% | -10.39% | 9 |
| NDAQ Nasdaq Inc | 0.53% | 96.88 | -1.85% | -2.45% | +2.30% | +0.06% | 70 |
| PYPL Paypal Holdings | 0.50% | 54.96 | -3.03% | +2.68% | -8.06% | -5.57% | 1 |
| XYZ Block Inc | 0.50% | 82.76 | -0.73% | -0.97% | +4.73% | +27.15% | 84 |
| PRU Prudential Financial Inc | 0.50% | 122.02 | -0.96% | +1.86% | +0.43% | +11.08% | 49 |
| HIG The Hartford Insurance Group | 0.48% | 138.37 | -1.16% | +0.31% | -4.25% | +1.32% | 13 |
| COIN Coinbase Global Cl A | 0.47% | 184.64 | -4.18% | +3.36% | +26.98% | -18.35% | 97 |
| HBAN Huntington Bancshares | 0.47% | 17.03 | -0.18% | +0.65% | -1.90% | -0.85% | 34 |
| MTB M&T Bank Corp | 0.46% | 239.84 | -0.09% | +1.73% | -4.12% | +20.71% | 16 |
| ACGL Arch Capital Grp Ltd | 0.43% | 98.10 | -1.73% | -0.75% | -1.20% | +2.27% | 37 |
| NTRS Northern Trust Corp | 0.43% | 186.63 | +0.03% | +0.39% | +1.35% | +38.04% | 57 |
| CBOE CBOE Global Markets | 0.41% | 298.38 | -0.04% | -3.62% | +3.18% | +19.42% | 74 |
| FISV Fiserv Inc | 0.38% | 53.00 | +0.51% | -0.34% | -2.05% | -21.10% | 33 |
| CFG Citizens Financial Group | 0.38% | 70.78 | -0.07% | +1.53% | -2.28% | +22.91% | 29 |
| ARES Ares Management LP | 0.37% | 140.15 | -0.97% | -1.67% | +1.43% | -12.11% | 61 |
| RJF Raymond James Financial | 0.36% | 178.29 | -1.55% | -0.60% | -0.58% | +11.81% | 42 |
| CINF Cincinnati Financial | 0.35% | 171.10 | -2.07% | -0.51% | -4.43% | +5.38% | 11 |
| SYF Synchrony Financial | 0.34% | 79.92 | +0.09% | +2.40% | +1.59% | -3.43% | 62 |
| RF Regions Financial Corp | 0.33% | 30.42 | -0.07% | +1.31% | -3.09% | +14.41% | 25 |
| WTW Willis Towers Watson Public | 0.33% | 334.74 | -2.14% | -2.62% | -1.55% | +2.21% | 36 |
| CPAY Corpay Inc | 0.33% | 416.37 | -0.79% | +2.08% | +4.54% | +38.36% | 83 |
| TROW T Rowe Price Group | 0.31% | 109.78 | -0.99% | -1.31% | -3.38% | +8.82% | 24 |
| PFG Principal Financial Group | 0.29% | 116.68 | -1.54% | +5.53% | +1.10% | +34.53% | 55 |
| KEY Keycorp | 0.28% | 22.18 | +0.27% | +2.20% | -2.12% | +9.60% | 32 |
| WRB W.R. Berkley Corp | 0.27% | 69.14 | -0.52% | +1.02% | -4.15% | -0.38% | 14 |
| FIS Fidelity National Information Services | 0.27% | 41.89 | -0.92% | +1.09% | -2.15% | -36.43% | 30 |
| L Loews Corp | 0.24% | 109.30 | -0.67% | -0.38% | -5.76% | +3.91% | 5 |
| BRO Brown & Brown | 0.23% | 71.42 | -1.57% | -2.58% | +0.57% | -9.92% | 51 |
| GPN Global Payments Inc | 0.21% | 92.54 | +0.84% | +0.78% | +5.53% | +19.95% | 88 |
| EG Everest Re Group | 0.18% | 380.87 | -1.39% | +0.86% | +2.84% | +12.94% | 71 |
| GL Globe Life Inc | 0.17% | 174.27 | -1.27% | -0.86% | -6.32% | +25.14% | 4 |
| AIZ Assurant Inc | 0.17% | 285.74 | -0.68% | +0.34% | -3.60% | +19.12% | 20 |
| IVZ Invesco Limited | 0.17% | 33.07 | +1.10% | +0.64% | +5.05% | +27.89% | 87 |
| BEN Franklin Resources | 0.13% | 34.73 | +3.52% | +0.23% | +2.15% | +47.50% | 68 |
| JKHY Jack Henry & Assoc | 0.12% | 165.64 | -1.26% | -2.05% | +5.54% | -8.49% | 89 |
| FDS Factset Research Systems | 0.12% | 301.96 | -3.51% | -1.90% | +9.97% | +5.10% | 96 |
| ERIE Erie Indemnity Company | 0.08% | 252.80 | -2.16% | -2.92% | -0.50% | -10.84% | 45 |
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
XLF dispersion — data Q&A
Is XLF's move broad or carried by a few names (21 sessions)?
As of 2026-09-04: over 21 sessions the fund returned +0.50% while its median constituent returned +0.50% — a dispersion of 6.46 pp; 50% of 76 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did XLF's members trade in the last session?
As of 2026-09-04: fund -0.79%, median member -0.93%, 14 advancers vs 62 decliners.
What does the dispersion page for XLF 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. 76 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.