Constituent dispersion · breadth vs the index
XLV — Health Care 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 | +2.70% | +0.53 | -34pp | -4.03pp | Confirming ↑ |
| 1 month | +9.95% | +2.69 | -22pp | -1.73pp | Confirming ↑ |
| 1 quarter | +12.10% | +1.32 | -39pp | -5.69pp | Confirming ↑ |
Over the last 126 sessions: price up +26.77%, breadth up (+4.86/name) · % beating 44→25 · median−ETF -1.36pp→-2.80pp.
Stocks above their moving average — participation breadth
Of the 59 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 2026-11-03.
New highs & new lows — by horizon
How many of the 59 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 (20%) | 8 (14%) | +4 |
| 1-Month | 5 (8%) | 1 (2%) | +4 |
| 3-Month | 5 (8%) | 1 (2%) | +4 |
| 6-Month | 4 (7%) | 0 (0%) | +4 |
| 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 | -0.31% | -0.11% | +0.20pp | 27 / 32 | 34 / 25 | 22 of 59 | ±2.13% |
| 5d | +2.70% | +1.04% | -1.66pp | 40 / 19 | 18 / 41 | 12 of 59 | ±4.89% |
| 21d | +9.95% | +7.15% | -2.80pp | 55 / 4 | 15 / 44 | 7 of 59 | ±6.94% |
| YTD | +19.36% | +20.86% | +1.49pp | 44 / 14 | 30 / 28 | 2 of 58 | ±26.97% |
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)
- CVS+3.28%+0.08pp
- TMO+2.30%+0.07pp
- UNH+1.00%+0.07pp
- SYK+1.22%+0.02pp
- ISRG+0.89%+0.02pp
- JNJ-1.62%-0.17pp
- MRK-2.49%-0.13pp
- VRTX-4.05%-0.08pp
- ABBV-0.98%-0.07pp
- PFE-2.18%-0.06pp
This month (21d)
- LLY+23.29%+3.76pp
- ABBV+8.28%+0.6pp
- JNJ+5.23%+0.55pp
- AMGN+14.46%+0.5pp
- UNH+6.83%+0.45pp
- DXCM-4.52%-0.02pp
- SOLV-3.71%-0.01pp
- IQV-1.32%-0.01pp
- HSIC-2.05%0pp
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)
- REGN+33.98%
- IDXX+27.50%
- LLY+23.29%
- GEHC+22.70%
- ZTS+16.22%
- DXCM-4.52%
- SOLV-3.71%
- HSIC-2.05%
- IQV-1.32%
- TECH+0.11%
XLV — constituent leadership race
$100 in each covered XLV 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 — 59 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LLY Eli Lilly and Company | 16.15% | 1409.38 | -0.11% | +9.94% | +23.29% | +31.36% | 95 |
| JNJ Johnson & Johnson | 10.44% | 266.17 | -1.62% | -0.95% | +5.23% | +29.30% | 36 |
| ABBV Abbvie Inc | 7.24% | 286.00 | -0.98% | -0.14% | +8.28% | +27.22% | 58 |
| UNH Unitedhealth Group | 6.62% | 404.44 | +1.00% | -1.45% | +6.83% | +23.47% | 46 |
| MRK Merck & Company | 5.28% | 144.67 | -2.49% | +2.01% | +3.68% | +38.46% | 22 |
| AMGN Amgen Inc | 3.44% | 461.26 | -0.90% | +2.97% | +14.46% | +41.90% | 86 |
| TMO Thermo Fisher Scientific | 3.17% | 698.34 | +2.30% | +0.77% | +3.19% | +20.64% | 19 |
| GILD Gilead Sciences Inc | 2.78% | 167.47 | -1.68% | +5.27% | +15.79% | +37.22% | 90 |
| ABT Abbott Laboratories | 2.76% | 109.40 | -0.69% | +6.11% | +9.96% | -11.69% | 75 |
| PFE Pfizer Inc | 2.68% | 30.00 | -2.18% | +0.67% | +9.45% | +22.50% | 69 |
| ISRG Intuitive Surg Inc | 2.63% | 440.75 | +0.89% | -1.15% | +8.43% | -22.18% | 59 |
| CVS CVS Corp | 2.33% | 91.41 | +3.28% | +0.31% | +5.06% | +17.15% | 34 |
| BMY Bristol-Myers Squibb Company | 2.09% | 61.71 | -2.08% | +0.26% | +4.93% | +16.95% | 31 |
| DHR Danaher Corp | 2.04% | 230.11 | +0.94% | -0.81% | +4.02% | +0.73% | 25 |
| VRTX Vertex Pharmaceutic | 2.03% | 530.76 | -4.05% | +1.87% | +5.41% | +17.07% | 39 |
| SYK Stryker Corp | 1.93% | 310.55 | +1.22% | +3.03% | +8.88% | -11.40% | 63 |
| MDT Medtronic Inc | 1.85% | 98.88 | -0.41% | +5.25% | +12.40% | +3.78% | 80 |
| MCK Mckesson Corp | 1.73% | 999.62 | +0.12% | +3.37% | +9.19% | +22.10% | 68 |
| ELV Elevance Health Inc | 1.60% | 413.75 | +0.04% | -1.84% | +4.88% | +18.76% | 29 |
| CI The Cigna Group | 1.41% | 295.44 | +0.08% | -0.95% | +8.90% | +8.56% | 64 |
| BSX Boston Scientific Corp | 1.25% | 43.50 | -1.85% | -3.46% | +2.59% | -54.38% | 15 |
| REGN Regeneron Pharmaceuticals | 1.11% | 973.36 | +1.26% | +19.27% | +33.98% | +26.26% | 98 |
| HCA Hca Holdings Inc | 1.09% | 462.86 | -1.04% | +2.87% | +6.42% | -0.71% | 42 |
| COR Cencora Inc | 0.99% | 340.50 | +0.79% | +4.65% | +8.12% | +1.22% | 56 |
| CAH Cardinal Health | 0.95% | 252.94 | -0.55% | +2.63% | +8.50% | +23.69% | 61 |
| EW Edwards Lifesciences Corp | 0.89% | 95.19 | +2.07% | +4.81% | +9.13% | +11.66% | 66 |
| HUM Humana Inc | 0.82% | 417.87 | +1.82% | +0.94% | +3.42% | +63.98% | 20 |
| IDXX Idexx Laboratories | 0.81% | 672.04 | +0.06% | +19.74% | +27.50% | -0.66% | 97 |
| BDX Becton Dickinson and Company | 0.75% | 198.17 | -0.22% | +1.61% | +9.69% | +30.72% | 73 |
| A Agilent Technologies | 0.66% | 175.46 | +2.02% | -1.14% | +2.59% | +29.47% | 14 |
| WAT Waters Corp | 0.63% | 459.90 | +2.31% | -1.85% | +4.49% | +21.08% | 27 |
| ZTS Zoetis Inc Cl A | 0.60% | 82.99 | -0.23% | +6.80% | +16.22% | -33.47% | 92 |
| IQV Iqvia Holdings Inc | 0.55% | 262.59 | +1.61% | -3.30% | -1.32% | +16.49% | 5 |
| CNC Centene Corp | 0.55% | 67.48 | +1.43% | -1.79% | +4.95% | +63.99% | 32 |
| GEHC GE Healthcare Technologies | 0.53% | 80.66 | +1.40% | +13.43% | +22.70% | -1.57% | 93 |
| BIIB Biogen Inc | 0.53% | 248.93 | -0.03% | -1.50% | +11.33% | +41.45% | 78 |
| DXCM Dexcom Inc | 0.52% | 82.97 | -2.11% | +5.61% | -4.52% | +25.01% | 0 |
| RMD Resmed Inc | 0.51% | 227.08 | -2.52% | -9.46% | +1.89% | -5.23% | 10 |
| VEEV Veeva Systems Inc | 0.43% | 303.21 | -1.23% | -3.27% | +6.97% | +35.83% | 47 |
| WST West Pharmaceutical Services | 0.43% | 406.99 | -0.22% | +2.18% | +8.02% | +48.17% | 54 |
| MTD Mettler-Toledo International | 0.41% | 1698.04 | +1.18% | +0.75% | +10.15% | +21.79% | 76 |
| DGX Quest Diagnostics Inc | 0.40% | 247.06 | -1.50% | +1.86% | +6.79% | +43.64% | 44 |
| LH Laboratory Corp of America | 0.40% | 353.92 | -0.47% | +6.87% | +14.67% | +41.81% | 88 |
| STE Steris Corp | 0.37% | 231.35 | -0.86% | +1.25% | +9.61% | -8.51% | 71 |
| VTRS Viatris Inc | 0.34% | 18.92 | +1.34% | +1.07% | +7.38% | +54.39% | 51 |
| INCY Incyte Corp | 0.33% | 117.59 | -2.04% | +0.85% | +3.03% | +19.05% | 17 |
| ZBH Zimmer Biomet Holdings | 0.32% | 97.06 | -0.30% | +1.04% | +6.00% | +8.23% | 41 |
| MRNA Moderna Inc | 0.31% | 228.44 | +3.45% | +9.84% | +12.42% | — | 81 |
| COO Cooper Companies | 0.24% | 60.83 | -0.77% | +1.59% | +7.15% | -25.78% | 49 |
| ALGN Align Technology | 0.21% | 151.58 | -1.65% | -0.24% | +7.77% | -2.93% | 53 |
| SOLV Solventum Corporation | 0.21% | 84.76 | +0.01% | +2.15% | -3.71% | +6.97% | 2 |
| RVTY Revvity Inc | 0.20% | 163.48 | +7.84% | +1.00% | +3.89% | +69.21% | 24 |
| BAX Baxter International | 0.19% | 25.49 | +5.24% | +2.29% | +5.24% | +33.52% | 37 |
| PODD Insulet Corp | 0.19% | 154.86 | +0.81% | +3.36% | +14.19% | -45.52% | 85 |
| CRL Charles River Laboratories | 0.17% | 351.87 | +3.94% | -1.94% | +13.23% | +76.39% | 83 |
| TECH Bio-Techne Corp | 0.15% | 72.66 | -0.01% | +0.08% | +0.11% | +23.95% | 7 |
| HSIC Henry Schein Inc | 0.15% | 82.50 | -4.76% | -2.08% | -2.05% | +9.16% | 3 |
| UHS Universal Health Services | 0.15% | 177.13 | -1.95% | -0.11% | +0.61% | -18.68% | 8 |
| DVA Davita Healthcare Partners | 0.13% | 182.17 | -1.92% | +0.26% | +1.93% | +60.35% | 12 |
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
XLV dispersion — data Q&A
Is XLV's move broad or carried by a few names (21 sessions)?
As of 2026-11-04: over 21 sessions the fund returned +9.95% while its median constituent returned +7.15% — a dispersion of 6.94 pp; 25% of 59 members beat the fund. Broad advance - breadth is rising with price.
How did XLV's members trade in the last session?
As of 2026-11-04: fund -0.31%, median member -0.11%, 27 advancers vs 32 decliners.
What does the dispersion page for XLV 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. 59 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.