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 | +0.98% | +0.15 | -2pp | -0.62pp | Improving |
| 1 month | +5.54% | +1.51 | -15pp | -3.40pp | Confirming ↑ |
| 1 quarter | +13.93% | +4.54 | +3pp | +1.37pp | Confirming ↑ |
Over the last 126 sessions: price up +10.99%, breadth up (+1.83/name) · % beating 49→49 · median−ETF -0.14pp→-0.51pp.
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 2026-09-03.
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 | 24 (41%) | 9 (15%) | +15 |
| 1-Month | 15 (25%) | 5 (8%) | +10 |
| 3-Month | 11 (19%) | 0 (0%) | +11 |
| 6-Month | 10 (17%) | 0 (0%) | +10 |
| 52-Week | 9 (15%) | 0 (0%) | +9 |
| YTD | 9 (15%) | 0 (0%) | +9 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.18% | +0.21% | +0.03pp | 34 / 25 | 30 / 29 | 36 of 59 | ±1.09% |
| 5d | +0.98% | +0.64% | -0.34pp | 35 / 24 | 25 / 34 | 20 of 59 | ±2.65% |
| 21d | +5.54% | +4.48% | -1.07pp | 40 / 18 | 28 / 30 | 9 of 58 | ±7.59% |
| YTD | +12.39% | +17.15% | +4.76pp | 42 / 16 | 32 / 26 | 1 of 58 | ±25.23% |
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)
- JNJ+1.17%+0.12pp
- TMO+1.63%+0.05pp
- ELV+2.20%+0.04pp
- GILD+1.08%+0.03pp
- MRK+0.46%+0.02pp
- ABT-1.52%-0.04pp
- ABBV-0.58%-0.04pp
- BSX-2.94%-0.04pp
- SYK-1.35%-0.03pp
- PFE-0.72%-0.02pp
This month (21d)
- MRK+18.71%+0.99pp
- JNJ+8.09%+0.84pp
- ABBV+5.69%+0.41pp
- GILD+14.77%+0.41pp
- PFE+11.62%+0.31pp
- UNH-2.86%-0.19pp
- SYK-8.62%-0.17pp
- LLY-0.73%-0.12pp
- IDXX-9.49%-0.08pp
- CVS-1.94%-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)
- VEEV+33.19%
- MRK+18.71%
- VRTX+15.08%
- IQV+15.07%
- GILD+14.77%
- IDXX-9.49%
- SYK-8.62%
- ALGN-8.57%
- BAX-6.44%
- COO-5.61%
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% | 1159.60 | -0.04% | -1.40% | -0.73% | +8.08% | 28 |
| JNJ Johnson & Johnson | 10.44% | 278.43 | +1.17% | +4.76% | +8.09% | +35.25% | 71 |
| ABBV Abbvie Inc | 7.24% | 260.21 | -0.58% | +0.80% | +5.69% | +15.75% | 55 |
| UNH Unitedhealth Group | 6.62% | 400.94 | +0.32% | +1.49% | -2.86% | +22.40% | 14 |
| MRK Merck & Company | 5.28% | 152.34 | +0.46% | +1.87% | +18.71% | +45.80% | 97 |
| AMGN Amgen Inc | 3.44% | 444.12 | +0.29% | +1.63% | +8.90% | +36.63% | 78 |
| TMO Thermo Fisher Scientific | 3.17% | 618.43 | +1.63% | -1.95% | +7.03% | +6.83% | 69 |
| GILD Gilead Sciences Inc | 2.78% | 151.22 | +1.08% | +1.59% | +14.77% | +23.90% | 91 |
| ABT Abbott Laboratories | 2.76% | 108.79 | -1.52% | -2.51% | +2.91% | -12.18% | 45 |
| PFE Pfizer Inc | 2.68% | 28.81 | -0.72% | +2.82% | +11.62% | +17.64% | 83 |
| ISRG Intuitive Surg Inc | 2.63% | 369.83 | -0.55% | +0.75% | -1.43% | -34.70% | 22 |
| CVS CVS Corp | 2.33% | 97.20 | -0.03% | +4.61% | -1.94% | +24.57% | 19 |
| BMY Bristol-Myers Squibb Company | 2.09% | 68.09 | +0.64% | +1.70% | +7.01% | +29.04% | 67 |
| DHR Danaher Corp | 2.04% | 211.03 | +0.53% | -2.16% | +5.69% | -7.62% | 57 |
| VRTX Vertex Pharmaceutic | 2.03% | 557.96 | +0.22% | +1.90% | +15.08% | +23.07% | 95 |
| SYK Stryker Corp | 1.93% | 307.99 | -1.35% | -4.39% | -8.62% | -12.13% | 2 |
| MDT Medtronic Inc | 1.85% | 93.10 | +1.00% | +3.48% | +8.27% | -2.29% | 72 |
| MCK Mckesson Corp | 1.73% | 921.38 | -0.37% | +3.58% | +5.03% | +12.54% | 50 |
| ELV Elevance Health Inc | 1.60% | 414.78 | +2.20% | +3.93% | +6.02% | +19.05% | 60 |
| CI The Cigna Group | 1.41% | 286.26 | +1.21% | +3.09% | +5.83% | +5.19% | 59 |
| BSX Boston Scientific Corp | 1.25% | 46.95 | -2.94% | +0.60% | -1.65% | -50.76% | 21 |
| REGN Regeneron Pharmaceuticals | 1.11% | 843.47 | -1.00% | +4.43% | +9.74% | +9.41% | 79 |
| HCA Hca Holdings Inc | 1.09% | 409.20 | +1.78% | -2.42% | -0.11% | -12.22% | 29 |
| COR Cencora Inc | 0.99% | 337.22 | +0.26% | +4.98% | +6.51% | +0.24% | 64 |
| CAH Cardinal Health | 0.95% | 248.61 | +1.27% | +5.73% | +3.92% | +21.57% | 48 |
| EW Edwards Lifesciences Corp | 0.89% | 89.78 | -1.15% | -0.19% | +0.91% | +5.31% | 34 |
| HUM Humana Inc | 0.82% | 406.52 | +1.38% | +3.54% | +11.74% | +59.52% | 84 |
| IDXX Idexx Laboratories | 0.81% | 529.29 | -1.80% | -2.90% | -9.49% | -21.76% | 0 |
| BDX Becton Dickinson and Company | 0.75% | 187.62 | +0.05% | -0.27% | +9.94% | +23.76% | 81 |
| A Agilent Technologies | 0.66% | 149.98 | -0.93% | -4.89% | +6.29% | +10.67% | 62 |
| WAT Waters Corp | 0.63% | 413.56 | +0.33% | -1.83% | +3.39% | +8.88% | 47 |
| ZTS Zoetis Inc Cl A | 0.60% | 76.29 | +0.16% | +1.69% | +2.55% | -38.84% | 43 |
| IQV Iqvia Holdings Inc | 0.55% | 271.62 | +2.95% | +3.52% | +15.07% | +20.50% | 93 |
| CNC Centene Corp | 0.55% | 68.02 | +1.01% | +4.12% | +1.54% | +65.30% | 40 |
| GEHC GE Healthcare Technologies | 0.53% | 69.72 | -1.19% | -3.81% | -0.74% | -14.92% | 26 |
| BIIB Biogen Inc | 0.53% | 224.51 | +0.83% | +1.36% | +8.65% | +27.57% | 76 |
| DXCM Dexcom Inc | 0.52% | 89.71 | +0.02% | +0.47% | +8.53% | +35.17% | 74 |
| RMD Resmed Inc | 0.51% | 229.19 | -0.73% | -2.79% | +2.30% | -4.35% | 41 |
| VEEV Veeva Systems Inc | 0.43% | 284.38 | +1.30% | +0.80% | +33.19% | +27.39% | 98 |
| WST West Pharmaceutical Services | 0.43% | 342.73 | +0.03% | -0.97% | -2.36% | +24.77% | 17 |
| MTD Mettler-Toledo International | 0.41% | 1356.23 | -0.84% | -3.64% | -4.59% | -2.72% | 9 |
| DGX Quest Diagnostics Inc | 0.40% | 239.40 | -0.58% | -2.13% | +1.51% | +39.19% | 38 |
| LH Laboratory Corp of America | 0.40% | 331.50 | -0.05% | -1.29% | +5.59% | +32.83% | 52 |
| STE Steris Corp | 0.37% | 226.83 | -1.53% | -2.64% | -2.53% | -10.30% | 16 |
| VTRS Viatris Inc | 0.34% | 16.94 | -0.88% | +0.30% | -4.02% | +38.23% | 10 |
| INCY Incyte Corp | 0.33% | 128.00 | -0.64% | +0.20% | +6.84% | +29.59% | 66 |
| ZBH Zimmer Biomet Holdings | 0.32% | 98.92 | -0.58% | -0.56% | +0.77% | +10.31% | 33 |
| MRNA Moderna Inc | 0.31% | 148.87 | -1.29% | +4.27% | — | — | — |
| COO Cooper Companies | 0.24% | 70.64 | +1.31% | -0.45% | -5.61% | -13.81% | 7 |
| ALGN Align Technology | 0.21% | 159.85 | +0.44% | +0.64% | -8.57% | +2.37% | 3 |
| SOLV Solventum Corporation | 0.21% | 92.44 | +0.59% | +1.66% | +5.68% | +16.66% | 53 |
| RVTY Revvity Inc | 0.20% | 130.63 | -0.24% | +0.71% | +13.57% | +35.21% | 90 |
| BAX Baxter International | 0.19% | 25.57 | -0.51% | -1.35% | -6.44% | +33.94% | 5 |
| PODD Insulet Corp | 0.19% | 150.58 | +1.65% | +5.00% | +13.00% | -47.02% | 88 |
| CRL Charles River Laboratories | 0.17% | 293.35 | +0.54% | -1.03% | +12.52% | +47.06% | 86 |
| TECH Bio-Techne Corp | 0.15% | 72.45 | +0.21% | -0.03% | +0.63% | +23.59% | 31 |
| HSIC Henry Schein Inc | 0.15% | 90.86 | +0.52% | +0.64% | +1.42% | +20.22% | 36 |
| UHS Universal Health Services | 0.15% | 169.21 | +1.03% | -1.84% | -1.43% | -22.31% | 24 |
| DVA Davita Healthcare Partners | 0.13% | 181.66 | +1.27% | +1.55% | -3.73% | +59.90% | 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 2026-09-03: over 21 sessions the fund returned +5.54% while its median constituent returned +4.48% — a dispersion of 7.59 pp; 48% of 58 members beat the fund. Broad advance - breadth is rising with price.
How did XLV's members trade in the last session?
As of 2026-09-03: fund +0.18%, median member +0.21%, 34 advancers vs 25 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 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.