Constituent dispersion · breadth vs the index
XLK — Technology 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 | +3.66% | +0.33 | -14pp | -3.62pp | Confirming ↑ |
| 1 month | +7.14% | +0.36 | -21pp | -5.40pp | Confirming ↑ |
| 1 quarter | +5.49% | +1.06 | -9pp | -1.43pp | Confirming ↑ |
Over the last 126 sessions: price up +47.13%, breadth up (+6.53/name) · % beating 63→29 · median−ETF +1.35pp→-5.30pp.
Stocks above their moving average — participation breadth
Of the 72 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 72 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 (17%) | 21 (29%) | -9 |
| 1-Month | 7 (10%) | 10 (14%) | -3 |
| 3-Month | 3 (4%) | 3 (4%) | +0 |
| 6-Month | 3 (4%) | 2 (3%) | +1 |
| 52-Week | 2 (3%) | 2 (3%) | +0 |
| YTD | 3 (4%) | 2 (3%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.32% | -0.85% | -0.53pp | 19 / 53 | 23 / 49 | 32 of 72 | ±2.65% |
| 5d | +3.66% | +2.73% | -0.93pp | 46 / 26 | 29 / 43 | 13 of 72 | ±7.58% |
| 21d | +7.14% | +1.84% | -5.30pp | 44 / 28 | 21 / 51 | 2 of 72 | ±12.85% |
| YTD | +35.57% | +25.11% | -10.46pp | 50 / 22 | 34 / 38 | 2 of 72 | ±104.77% |
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)
- INTC+3.91%+0.15pp
- AMD+2.38%+0.13pp
- MU+0.81%+0.06pp
- CDNS+4.18%+0.03pp
- SNPS+2.87%+0.02pp
- ORCL-3.47%-0.07pp
- SNDK-3.47%-0.07pp
- AVGO-1.30%-0.06pp
- WDC-4.94%-0.06pp
- NVDA-0.41%-0.05pp
This month (21d)
- INTC+45.62%+1.71pp
- AMD+31.32%+1.68pp
- MU+15.82%+1.12pp
- AAPL+8.40%+0.95pp
- NVDA+5.41%+0.71pp
- CSCO-3.73%-0.11pp
- INTU-22.47%-0.11pp
- AVGO-1.79%-0.09pp
- ORCL-3.61%-0.07pp
- LRCX-2.38%-0.07pp
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)
- INTC+45.62%
- CRWD+40.07%
- SWKS+33.65%
- AMD+31.32%
- QCOM+21.65%
- FICO-24.68%
- INTU-22.47%
- GEN-21.29%
- FSLR-16.76%
- ADSK-15.87%
XLK — constituent leadership race
$100 in each covered XLK 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 — 72 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| NVDA Nvidia Corp | 13.14% | 224.58 | -0.41% | +2.39% | +5.41% | +20.57% | 65 |
| AAPL Apple Inc | 11.26% | 335.92 | -0.33% | -0.32% | +8.40% | +23.68% | 74 |
| MSFT Microsoft Corp | 7.64% | 497.93 | -0.53% | +0.04% | +1.26% | +3.19% | 46 |
| MU Micron Technology | 7.09% | 1080.53 | +0.81% | +10.54% | +15.82% | +278.75% | 85 |
| AMD Adv Micro Devices | 5.35% | 629.26 | +2.38% | +15.44% | +31.32% | +193.83% | 94 |
| AVGO Broadcom Ltd | 4.77% | 350.36 | -1.30% | +1.06% | -1.79% | +1.44% | 32 |
| INTC Intel Corp | 3.75% | 127.39 | +3.91% | +17.09% | +45.62% | +245.23% | 99 |
| CSCO Cisco Systems Inc | 3.07% | 106.97 | +0.51% | -2.97% | -3.73% | +40.37% | 19 |
| LRCX Lam Research Corp | 2.94% | 307.16 | -0.04% | +14.18% | -2.38% | +79.78% | 28 |
| AMAT Applied Materials | 2.89% | 474.25 | -0.03% | +13.62% | -1.21% | +84.77% | 35 |
| KLAC K L A-Tencor Corp | 2.14% | 187.11 | -0.40% | +10.73% | +2.06% | +54.56% | 50 |
| ORCL Oracle Corp | 2.00% | 139.54 | -3.47% | -7.34% | -3.61% | -27.97% | 21 |
| PLTR Palantir Technologies Cl A | 1.88% | 192.59 | +0.42% | +9.28% | +11.50% | +8.35% | 78 |
| SNDK Sandisk Corp | 1.88% | 1753.62 | -3.47% | +8.62% | +18.43% | +638.74% | 90 |
| TXN Texas Instruments | 1.75% | 270.65 | -0.72% | +4.85% | +4.08% | +57.02% | 57 |
| IBM Intl Business Machines | 1.63% | 227.06 | -2.45% | -4.50% | -3.04% | -22.91% | 24 |
| PANW Palo Alto Networks | 1.45% | 389.92 | -0.86% | +3.96% | +14.72% | +111.68% | 81 |
| QCOM Qualcomm Inc | 1.45% | 194.26 | -1.51% | +2.94% | +21.65% | +14.30% | 93 |
| ADI Analog Devices | 1.31% | 382.61 | -0.68% | +5.50% | +2.71% | +41.52% | 54 |
| STX Seagate Technology Holdings | 1.30% | 905.92 | -1.86% | +12.89% | +10.25% | +229.53% | 76 |
| WDC Western Digital Corp | 1.22% | 450.31 | -4.94% | +6.24% | -0.10% | +161.52% | 38 |
| APH Amphenol Corp | 1.21% | 83.08 | +1.08% | +6.17% | +4.65% | +23.38% | 60 |
| CRWD Crowdstrike Holdings | 1.10% | 259.67 | -1.07% | +5.69% | +40.07% | +121.58% | 97 |
| ANET Arista Networks Inc | 1.08% | 205.70 | +1.10% | +3.09% | +7.73% | +56.99% | 71 |
| CRM Salesforce Inc | 1.00% | 238.22 | +0.27% | -1.91% | +15.82% | -9.85% | 83 |
| GLW Corning Inc | 0.90% | 154.15 | -0.21% | +4.30% | +4.95% | +76.38% | 63 |
| APP Applovin Corp Cl A | 0.86% | 312.47 | -0.88% | -2.84% | +0.62% | -53.63% | 39 |
| DELL Dell Technologies Inc | 0.75% | 536.02 | -2.51% | -8.90% | +18.72% | +329.00% | 92 |
| NOW Servicenow Inc | 0.69% | 137.78 | -2.13% | -0.50% | +8.49% | -10.06% | 75 |
| CDNS Cadence Design Sys | 0.67% | 322.00 | +4.18% | +14.69% | -2.98% | +3.01% | 25 |
| ACN Accenture Plc | 0.67% | 177.41 | -3.33% | -6.77% | -5.09% | -32.93% | 18 |
| FTNT Fortinet Inc | 0.59% | 178.67 | -0.04% | +3.53% | +16.28% | +125.00% | 86 |
| SNPS Synopsys Inc | 0.56% | 424.91 | +2.87% | +11.48% | +3.94% | -9.54% | 56 |
| ADBE Adobe Systems Inc | 0.54% | 238.93 | -0.73% | -5.44% | -12.77% | -31.73% | 7 |
| INTU Intuit Inc | 0.49% | 277.13 | -3.37% | -11.50% | -22.47% | -57.96% | 1 |
| MPWR Monolithic Power Sys | 0.49% | 1335.55 | -1.47% | +14.19% | +2.41% | +47.65% | 53 |
| NXPI Nxp Semiconductors | 0.49% | 230.16 | -2.24% | +0.97% | +2.41% | +6.59% | 51 |
| DDOG Datadog Inc Cl A | 0.48% | 256.92 | +2.16% | +8.86% | +15.22% | +88.93% | 82 |
| COHR Coherent Corp | 0.46% | 290.61 | -3.32% | -1.81% | +0.86% | +57.45% | 42 |
| MSI Motorola Solutions | 0.44% | 454.91 | -1.20% | -1.04% | -6.28% | +18.99% | 17 |
| LITE Lumentum Holdings | 0.42% | 929.04 | -0.85% | +3.96% | +4.91% | +152.05% | 61 |
| HPE Hewlett Packard Enterprise | 0.41% | 62.46 | +0.21% | +2.33% | +16.88% | +161.71% | 89 |
| TER Teradyne Inc | 0.41% | 387.70 | -0.37% | +9.79% | +5.85% | +100.38% | 68 |
| CIEN Ciena Corp | 0.40% | 358.43 | +0.71% | +4.12% | -7.54% | +53.26% | 14 |
| TEL Te Connectivity Ltd | 0.40% | 213.67 | -0.34% | +3.42% | +6.09% | -5.43% | 69 |
| KEYS Keysight Technologies | 0.39% | 357.54 | +1.18% | +7.87% | +11.69% | +75.96% | 79 |
| MCHP Microchip Technology | 0.33% | 74.69 | -1.11% | +5.46% | +1.62% | +17.91% | 49 |
| ON On Semiconductor | 0.30% | 73.15 | -1.28% | +7.10% | +0.88% | +35.09% | 43 |
| ADSK Autodesk Inc | 0.27% | 211.35 | -2.67% | -3.33% | -15.87% | -28.60% | 6 |
| JBL Jabil Circuit | 0.26% | 310.69 | +0.63% | +4.98% | +0.65% | +36.33% | 40 |
| ROP Roper Industries | 0.23% | 364.02 | -0.64% | -2.87% | -11.94% | -17.85% | 8 |
| NTAP Netapp Inc | 0.21% | 197.24 | +0.46% | +0.16% | +5.23% | +86.03% | 64 |
| Q Qnity Electronics Inc | 0.20% | 122.31 | -1.76% | +4.42% | -3.34% | +49.97% | 22 |
| TDY Teledyne Technologies | 0.19% | 612.02 | -1.45% | +1.67% | -2.37% | +19.83% | 29 |
| FSLR First Solar Inc | 0.18% | 172.16 | -10.32% | -14.42% | -16.76% | -34.10% | 4 |
| FICO Fair Isaac and Company | 0.18% | 856.48 | -2.63% | -11.37% | -24.68% | -49.34% | 0 |
| WDAY Workday Inc | 0.18% | 190.99 | -0.72% | -4.16% | -1.76% | -11.08% | 33 |
| CTSH Cognizant Tech Sol | 0.16% | 57.17 | -3.33% | -7.61% | -9.34% | -30.77% | 10 |
| HPQ HP Inc | 0.15% | 31.14 | -3.17% | -10.16% | +5.49% | +42.03% | 67 |
| VRSN Verisign Inc | 0.15% | 291.88 | -0.48% | -3.37% | -0.64% | +20.91% | 36 |
| FFIV F5 Inc | 0.14% | 446.55 | -2.07% | +2.74% | +16.67% | +74.94% | 88 |
| AKAM Akamai Technologies | 0.12% | 110.41 | -6.78% | +3.11% | +4.42% | +26.54% | 58 |
| CDW CDW Corp | 0.11% | 139.46 | -4.58% | -6.53% | -1.85% | +3.52% | 31 |
| SMCI Super Micro Computer | 0.10% | 41.51 | +0.17% | +2.87% | +7.93% | +41.82% | 72 |
| PTC Ptc Inc | 0.09% | 137.41 | -2.13% | +2.21% | -9.08% | -21.12% | 11 |
| GEN Gen Digital Inc | 0.09% | 23.07 | -12.05% | -23.63% | -21.29% | -14.24% | 3 |
| TYL Tyler Technologies | 0.08% | 326.85 | -1.71% | -4.31% | -6.63% | -28.00% | 15 |
| TRMB Trimble Navigation | 0.08% | 57.69 | -2.75% | +0.63% | -2.93% | -26.37% | 26 |
| ZBRA Zebra Technologies | 0.07% | 365.10 | -1.60% | +4.97% | +1.27% | +50.36% | 47 |
| SWKS Skyworks Solutions | 0.07% | 87.81 | -3.98% | -3.84% | +33.65% | +41.35% | 96 |
| IT Gartner Inc | 0.07% | 179.32 | +0.45% | -4.52% | -8.41% | -28.92% | 13 |
| GDDY Godaddy Inc | 0.07% | 100.81 | +4.60% | +2.71% | +1.02% | -18.75% | 44 |
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
XLK dispersion — data Q&A
Is XLK's move broad or carried by a few names (21 sessions)?
As of 2026-09-24: over 21 sessions the fund returned +7.14% while its median constituent returned +1.84% — a dispersion of 12.85 pp; 29% of 72 members beat the fund. Broad advance - breadth is rising with price.
How did XLK's members trade in the last session?
As of 2026-09-24: fund -0.32%, median member -0.85%, 19 advancers vs 53 decliners.
What does the dispersion page for XLK 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. 72 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.