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Closelooknet rankings · Inside the ETFs

The funds most divided inside

The covered funds ranked by how far apart their members’ 21-day returns are — the most internally divided funds first, the most unanimous last.

An ETF shows one price, but its members rarely agree. Dispersion measures how far apart the members’ returns are — here over the last 21 trading days. A fund at the top of this list is not one trade; it is a battleground, and its headline return hides big winners and big losers. The bottom of the table shows the funds moving as one block.

Engine run of 2026-09-25 · 40 funds and Closelooknet indices covered, member by member — the Sector Dispersion lab holds the full per-fund detail.

#Fund21d dispersionA/D 90dFund 21dMedian member 21dUp / down (1d)Beat / lag (21d)Members
1 DTCR Global X Data Center & Digital Infra 14.6 pp -1.8% -1.3% 10 / 10 10 / 10 20
2 XSD SPDR S&P Semiconductor (EW) 14.3 pp +10.2% +6.3% 40 / 3 13 / 30 43
3 AEI Agentic Ecosystem Index (EW) 14.3 pp +4.0% +10.3% 6 / 28 27 / 7 34
4 QTEC First Trust Nasdaq-100 Technology 13.9 pp +5.7% +4.9% 28 / 17 22 / 23 45
5 ARKK ARK Innovation 13.6 pp +5.8% +3.2% 13 / 29 20 / 22 42
6 AIQ Global X AI & Technology 13.2 pp +4.6% +0.9% 24 / 42 28 / 38 66
7 QQEW First Trust Nasdaq-100 Equal Weight 13.0 pp -0.2% -0.1% 29 / 19 26 / 23 49
8 IGV iShares Expanded Tech-Software 12.7 pp +3.5% -2.5% 17 / 90 36 / 74 110
9 CIBR First Trust Nasdaq Cybersecurity 12.5 pp +7.8% +3.8% 11 / 29 14 / 27 41
10 XLK Technology Select Sector 12.4 pp +7.3% +2.7% 47 / 25 21 / 51 72
11 QTOP iShares Nasdaq-100 Top 30 12.2 pp +7.3% +1.9% 24 / 7 8 / 23 31
12 WTAI WisdomTree AI & Innovation 12.1 pp +7.6% +6.9% 21 / 25 19 / 28 47
13 AW40 Agentic Winners 40 (EW) 12.0 pp -5.7% -4.7% 14 / 24 21 / 17 38
14 IXN iShares Global Tech 11.8 pp +7.4% +1.7% 57 / 30 21 / 66 87
15 SMH VanEck Semiconductor 11.8 pp +9.1% +6.3% 23 / 2 8 / 17 25
16 XLC Communication Services Select Sector 11.5 pp +0.3% -7.3% 8 / 14 5 / 18 23
17 EUROAI Euro-AI Sovereign 50 (EW) 10.8 pp -2.6% -2.3% 35 / 24 32 / 29 61
18 IXP Global Communications 10.5 pp +2.5% -6.2% 18 / 18 7 / 30 37
19 QTUM Defiance Quantum 10.5 pp +3.3% +4.0% 38 / 24 33 / 29 62
20 RUBIN Rubin Build-Out 100 (EW) 10.2 pp +4.1% +2.5% 99 / 26 55 / 70 125
21 HALO HALO Growth 100 (EW) 10.0 pp -7.6% -7.1% 46 / 53 51 / 48 99
22 XLV Health Care Select Sector 8.6 pp -1.6% -3.2% 40 / 18 25 / 34 59
23 IXJ Global Healthcare 8.0 pp -2.3% -3.3% 50 / 28 33 / 47 80
24 QQXT First Trust Nasdaq-100 Ex-Technology 7.8 pp -6.8% -6.0% 35 / 20 33 / 23 56
25 JXI Global Utilities 7.4 pp -6.3% -7.0% 32 / 11 19 / 24 43
26 XLY Consumer Discretionary Select Sector 7.1 pp -5.6% -8.5% 34 / 14 18 / 30 48
27 IXC Global Energy 7.0 pp +0.6% +0.3% 8 / 26 15 / 20 35
28 RXI Global Discretionary 6.8 pp -6.1% -6.5% 53 / 22 33 / 42 75
29 XLP Consumer Staples Select Sector 6.7 pp -4.9% -7.0% 17 / 19 14 / 22 36
30 XLU Utilities Select Sector 6.6 pp -9.2% -7.7% 28 / 3 24 / 7 31
31 XLI Industrial Select Sector 6.5 pp -5.5% -6.5% 57 / 23 34 / 46 80
32 IXG Global Financials 6.5 pp -3.4% -5.8% 98 / 34 50 / 83 133
33 KXI Global Staples 6.0 pp -4.0% -5.4% 26 / 34 26 / 35 61
34 EXI Global Industrials 6.0 pp -4.2% -4.5% 96 / 38 67 / 68 135
35 XLE Energy Select Sector 5.7 pp -0.6% -3.3% 5 / 15 7 / 14 21
36 MXI Global Materials 5.6 pp -6.9% -5.8% 34 / 23 33 / 25 59
37 XLF Financial Select Sector 5.1 pp -5.9% -7.3% 53 / 23 27 / 49 76
38 XLB Materials Select Sector 4.0 pp -7.2% -6.5% 16 / 10 15 / 11 26
39 XLRE Real Estate Select Sector 3.5 pp -7.8% -7.6% 21 / 10 16 / 14 31
40 REET Global REITs 3.4 pp -7.2% -6.3% 46 / 43 59 / 36 96

Dispersion = spread of member returns, in percentage points. Median member = the typical holding’s return. A/D 90d = the fund’s cumulative advance/decline line over the last 90 sessions — rising means most members participate, falling means the shell hides internal decline. Up/down counts members in the last session; beat/lag counts members ahead of or behind the fund itself over 21 days. All 40 covered funds are shown — both ends of the table are the story.

Go deeper

  • Click any fund for its dispersion page in the lab — member-by-member returns, the advance/decline line inside the fund, and what changed.
  • The Directional Flow ranking grades the trend of single names; this family shows which themes those names disagree about.
  • The daily archive keeps every run's full dispersion ranking — which funds were battlegrounds on any past day.
  • Sector flow and theme flow rank the same funds by trend quality instead of internal agreement.

FAQ

What does dispersion mean here?

How far apart the returns of a fund’s members are over a window, in percentage points. High dispersion means the members disagree — big winners and big losers behind one headline number. Low dispersion means the fund is moving as one block.

Why does internal disagreement matter?

Two funds can print the same return for opposite reasons: one carried by a couple of heavyweights while the rest falls, the other lifted by nearly every member. The first is fragile, the second is broad. Dispersion and the median member separate those two cases.

How often is this ranking updated?

The dispersion engine runs after every US market close across the covered funds and Closelooknet indices. This page is rebuilt every morning and always shows the date of the run it was built from.

Is this investment advice?

No. Closelooknet publishes an investment research diary, not investment advice. The ranking describes what our engine measures in past prices. Past performance may not be an indication of future performance.

Closelooknet publishes an investment research diary, not investment advice. Past performance may not be an indication of future performance.