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 | +3.05% | +1.75 | +6pp | +0.30pp | Confirming ↑ |
| 1 month | +4.16% | +0.59 | -17pp | -2.65pp | Confirming ↑ |
| 1 quarter | +7.52% | +0.27 | -9pp | -1.22pp | Confirming ↑ |
Over the last 126 sessions: price up +17.56%, breadth up (+2.1/name) · % beating 61→42 · median−ETF +1.54pp→-1.13pp.
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 2026-10-14.
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 | 36 (61%) | 3 (5%) | +33 |
| 1-Month | 20 (34%) | 0 (0%) | +20 |
| 3-Month | 12 (20%) | 0 (0%) | +12 |
| 6-Month | 11 (19%) | 0 (0%) | +11 |
| 52-Week | 7 (12%) | 0 (0%) | +7 |
| YTD | 7 (12%) | 0 (0%) | +7 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +2.53% | +1.31% | -1.22pp | 47 / 12 | 15 / 44 | 17 of 59 | ±1.7% |
| 5d | +3.05% | +3.27% | +0.22pp | 50 / 9 | 32 / 27 | 16 of 59 | ±3.08% |
| 21d | +4.15% | +3.02% | -1.13pp | 43 / 16 | 25 / 34 | 10 of 59 | ±9.22% |
| YTD | +12.84% | +15.64% | +2.80pp | 42 / 16 | 33 / 25 | 4 of 58 | ±26.59% |
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)
- LLY+3.62%+0.58pp
- UNH+4.73%+0.31pp
- ABBV+3.32%+0.24pp
- JNJ+2.13%+0.22pp
- MRK+3.80%+0.2pp
- ISRG-0.43%-0.01pp
- DXCM-1.87%-0.01pp
- BSX-0.72%-0.01pp
- SYK-0.33%-0.01pp
- VEEV-1.42%-0.01pp
This month (21d)
- LLY+6.39%+1.03pp
- ABBV+7.77%+0.56pp
- AMGN+13.43%+0.46pp
- UNH+5.24%+0.35pp
- ISRG+11.42%+0.3pp
- JNJ-4.97%-0.52pp
- BMY-6.98%-0.15pp
- CVS-4.34%-0.1pp
- VRTX-3.13%-0.06pp
- INCY-8.35%-0.03pp
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)
- MRNA+57.40%
- MTD+20.96%
- A+15.79%
- AMGN+13.43%
- VEEV+11.53%
- INCY-8.35%
- BMY-6.98%
- ZBH-6.75%
- DGX-5.52%
- DVA-5.34%
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% | 1208.74 | +3.62% | +1.68% | +6.39% | +12.66% | 71 |
| JNJ Johnson & Johnson | 10.44% | 253.91 | +2.13% | -1.76% | -4.97% | +23.34% | 8 |
| ABBV Abbvie Inc | 7.24% | 283.48 | +3.32% | +4.47% | +7.77% | +26.10% | 81 |
| UNH Unitedhealth Group | 6.62% | 395.62 | +4.73% | +5.22% | +5.24% | +20.78% | 68 |
| MRK Merck & Company | 5.28% | 147.37 | +3.80% | +3.21% | +2.49% | +41.04% | 41 |
| AMGN Amgen Inc | 3.44% | 426.11 | +3.21% | +3.15% | +13.43% | +31.09% | 93 |
| TMO Thermo Fisher Scientific | 3.17% | 673.20 | +1.53% | +1.68% | +4.96% | +16.29% | 64 |
| GILD Gilead Sciences Inc | 2.78% | 153.54 | +3.80% | +4.56% | +4.95% | +25.80% | 63 |
| ABT Abbott Laboratories | 2.76% | 102.97 | +0.35% | +4.29% | +0.92% | -16.88% | 36 |
| PFE Pfizer Inc | 2.68% | 29.21 | +2.96% | +4.32% | +6.03% | +19.27% | 69 |
| ISRG Intuitive Surg Inc | 2.63% | 420.24 | -0.43% | +1.38% | +11.42% | -25.80% | 90 |
| CVS CVS Corp | 2.33% | 90.39 | +3.24% | +2.77% | -4.34% | +15.84% | 10 |
| BMY Bristol-Myers Squibb Company | 2.09% | 59.28 | +4.61% | -0.70% | -6.98% | +12.35% | 2 |
| DHR Danaher Corp | 2.04% | 224.69 | +0.83% | +2.84% | +7.32% | -1.64% | 76 |
| VRTX Vertex Pharmaceutic | 2.03% | 498.50 | +2.74% | -1.41% | -3.13% | +9.96% | 15 |
| SYK Stryker Corp | 1.93% | 281.62 | -0.33% | +2.26% | +0.04% | -19.66% | 27 |
| MDT Medtronic Inc | 1.85% | 94.23 | +1.31% | +10.20% | +1.34% | -1.10% | 37 |
| MCK Mckesson Corp | 1.73% | 976.57 | +1.53% | +7.28% | +8.56% | +19.28% | 85 |
| ELV Elevance Health Inc | 1.60% | 428.09 | +0.66% | +5.88% | +2.53% | +22.87% | 42 |
| CI The Cigna Group | 1.41% | 289.58 | +2.50% | +3.97% | +0.24% | +6.41% | 31 |
| BSX Boston Scientific Corp | 1.25% | 43.00 | -0.72% | +3.42% | -1.98% | -54.90% | 24 |
| REGN Regeneron Pharmaceuticals | 1.11% | 778.36 | +3.35% | +4.88% | +0.55% | +0.96% | 32 |
| HCA Hca Holdings Inc | 1.09% | 470.44 | +2.10% | +7.12% | +11.20% | +0.92% | 88 |
| COR Cencora Inc | 0.99% | 336.17 | +1.84% | +5.96% | +3.98% | -0.07% | 56 |
| CAH Cardinal Health | 0.95% | 247.74 | +3.35% | +6.71% | +6.49% | +21.15% | 73 |
| EW Edwards Lifesciences Corp | 0.89% | 86.45 | +1.38% | +0.78% | +0.83% | +1.41% | 34 |
| HUM Humana Inc | 0.82% | 427.40 | +1.67% | +7.79% | +7.76% | +67.72% | 80 |
| IDXX Idexx Laboratories | 0.81% | 529.01 | +1.67% | +4.41% | +3.58% | -21.81% | 53 |
| BDX Becton Dickinson and Company | 0.75% | 188.89 | +0.81% | +4.85% | +1.60% | +24.60% | 39 |
| A Agilent Technologies | 0.66% | 174.00 | +1.40% | +2.90% | +15.79% | +28.40% | 95 |
| WAT Waters Corp | 0.63% | 436.61 | +1.73% | +0.14% | +4.68% | +14.95% | 59 |
| ZTS Zoetis Inc Cl A | 0.60% | 75.29 | +1.33% | +5.23% | +2.53% | -39.64% | 44 |
| IQV Iqvia Holdings Inc | 0.55% | 262.01 | +0.51% | +1.51% | -2.84% | +16.24% | 19 |
| CNC Centene Corp | 0.55% | 70.16 | +1.89% | +7.96% | +3.69% | +70.50% | 54 |
| GEHC GE Healthcare Technologies | 0.53% | 68.47 | -0.47% | +5.88% | +6.87% | -16.45% | 75 |
| BIIB Biogen Inc | 0.53% | 232.83 | +1.72% | +4.81% | +7.71% | +32.30% | 78 |
| DXCM Dexcom Inc | 0.52% | 83.47 | -1.87% | -0.98% | -3.45% | +25.76% | 14 |
| RMD Resmed Inc | 0.51% | 235.29 | +0.11% | +4.12% | +2.55% | -1.80% | 46 |
| VEEV Veeva Systems Inc | 0.43% | 297.35 | -1.42% | +5.26% | +11.53% | +33.20% | 92 |
| WST West Pharmaceutical Services | 0.43% | 374.65 | +0.76% | +2.23% | +2.64% | +36.39% | 47 |
| MTD Mettler-Toledo International | 0.41% | 1609.27 | +0.70% | +4.94% | +20.96% | +15.43% | 97 |
| DGX Quest Diagnostics Inc | 0.40% | 233.43 | +1.29% | +2.81% | -5.52% | +35.72% | 5 |
| LH Laboratory Corp of America | 0.40% | 317.34 | +1.18% | +1.72% | -2.05% | +27.16% | 22 |
| STE Steris Corp | 0.37% | 217.26 | -0.23% | +3.62% | +3.32% | -14.08% | 51 |
| VTRS Viatris Inc | 0.34% | 17.44 | +1.10% | -0.29% | +4.74% | +42.32% | 61 |
| INCY Incyte Corp | 0.33% | 111.57 | +2.72% | -1.65% | -8.35% | +12.96% | 0 |
| ZBH Zimmer Biomet Holdings | 0.32% | 91.77 | -0.34% | +3.71% | -6.75% | +2.33% | 3 |
| MRNA Moderna Inc | 0.31% | 226.30 | +4.65% | +15.18% | +57.40% | — | 98 |
| COO Cooper Companies | 0.24% | 54.88 | +0.53% | +0.24% | +3.02% | -33.04% | 49 |
| ALGN Align Technology | 0.21% | 144.44 | +0.63% | +3.27% | -1.74% | -7.50% | 25 |
| SOLV Solventum Corporation | 0.21% | 87.26 | +1.11% | +1.61% | -3.11% | +10.12% | 17 |
| RVTY Revvity Inc | 0.20% | 152.12 | -1.91% | -0.96% | +8.51% | +57.45% | 83 |
| BAX Baxter International | 0.19% | 24.80 | -0.36% | +3.46% | +4.60% | +29.91% | 58 |
| PODD Insulet Corp | 0.19% | 133.93 | -3.04% | -0.32% | -3.81% | -52.88% | 12 |
| CRL Charles River Laboratories | 0.17% | 302.00 | +1.00% | +0.57% | +10.67% | +51.39% | 86 |
| TECH Bio-Techne Corp | 0.15% | 72.50 | +0.03% | -0.04% | +0.22% | +23.67% | 29 |
| HSIC Henry Schein Inc | 0.15% | 85.56 | +0.62% | +2.27% | -2.24% | +13.20% | 20 |
| UHS Universal Health Services | 0.15% | 185.89 | +3.84% | +6.45% | +5.11% | -14.65% | 66 |
| DVA Davita Healthcare Partners | 0.13% | 180.70 | -0.76% | +2.22% | -5.34% | +59.05% | 7 |
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 2026-10-14: over 21 sessions the fund returned +4.15% while its median constituent returned +3.02% — a dispersion of 9.22 pp; 42% 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 2026-10-14: fund +2.53%, median member +1.31%, 47 advancers vs 12 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.