Constituent dispersion · breadth vs the index
AW40 — Agentic Winners 40 (EW)
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 | +3.75% | +0.34 | -8pp | -6.03pp | Confirming ↑ |
| 1 month | +17.14% | +1.74 | -24pp | -10.76pp | Confirming ↑ |
| 1 quarter | +11.98% | -0.58 | -7pp | -7.09pp | Weakening |
Over the last 126 sessions: price up +20.22%, breadth up (+0.55/name) · % beating 55→39 · median−ETF +1.12pp→-7.13pp.
Stocks above their moving average — participation breadth
Of the 38 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 2026-08-27.
New highs & new lows — by horizon
How many of the 38 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 | 18 (47%) | 2 (5%) | +16 |
| 1-Month | 12 (32%) | 0 (0%) | +12 |
| 3-Month | 10 (26%) | 0 (0%) | +10 |
| 6-Month | 10 (26%) | 0 (0%) | +10 |
| 52-Week | 3 (8%) | 0 (0%) | +3 |
| YTD | 5 (13%) | 0 (0%) | +5 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +3.74% | +1.60% | -2.14pp | 27 / 11 | 7 / 31 | 8 of 38 | ±2.89% |
| 5d | +3.75% | +2.83% | -0.91pp | 33 / 5 | 14 / 24 | 6 of 38 | ±6.06% |
| 21d | +17.14% | +13.66% | -3.48pp | 35 / 3 | 14 / 24 | 1 of 38 | ±21.39% |
| YTD | -2.79% | -4.21% | -1.42pp | 15 / 23 | 17 / 21 | 3 of 38 | ±23.72% |
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)
- 0268.HK+6.23%+0.16pp
- WDAY+5.76%+0.14pp
- 4478.T+4.85%+0.12pp
- NOW+4.54%+0.11pp
- 3994.T+4.42%+0.11pp
- TEM-9.41%-0.24pp
- NVDA-4.57%-0.11pp
- VEEV-1.93%-0.05pp
- IOT-1.70%-0.04pp
- DASTY-1.19%-0.03pp
This month (21d)
- TEAM+95.54%+2.39pp
- 4478.T+63.96%+1.6pp
- PLTR+52.37%+1.31pp
- PATH+46.73%+1.17pp
- TEM+44.59%+1.11pp
- APP-21.32%-0.53pp
- RDDT-14.06%-0.35pp
- AAPL-4.12%-0.1pp
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)
- TEAM+95.54%
- 4478.T+63.96%
- PLTR+52.37%
- PATH+46.73%
- TEM+44.59%
- APP-21.32%
- RDDT-14.06%
- AAPL-4.12%
- SIEGY+2.70%
- GOOGL+3.88%
AW40 — constituent leadership race
$100 in each covered AW40 constituent at 2026-01-07, 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 — 38 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MSFT Microsoft | 2.50% | 513.53 | +1.68% | +6.27% | +13.84% | +6.43% | 50 |
| AMZN Amazon | 2.50% | 266.43 | +3.97% | +3.02% | +13.13% | +15.43% | 45 |
| GOOGL Alphabet | 2.50% | 346.59 | +1.74% | +0.51% | +3.88% | +10.81% | 11 |
| META Meta | 2.50% | 578.02 | +1.21% | +5.11% | +7.23% | -12.36% | 21 |
| AAPL Apple | 2.50% | 319.70 | +1.63% | +3.35% | -4.12% | +17.71% | 5 |
| NVDA Nvidia | 2.50% | 217.55 | -4.57% | +1.32% | +11.54% | +16.79% | 32 |
| PLTR Palantir | 2.50% | 186.29 | +0.19% | +3.53% | +52.37% | +4.80% | 92 |
| NOW ServiceNow | 2.50% | 144.71 | +4.54% | +12.63% | +31.47% | -5.54% | 76 |
| CRM Salesforce | 2.50% | 256.00 | +1.57% | +22.39% | +41.66% | -3.12% | 84 |
| WDAY Workday | 2.50% | 204.72 | +5.76% | +2.35% | +29.48% | -4.68% | 74 |
| SAP SAP | 2.50% | 221.54 | +0.17% | +1.31% | +22.48% | -8.80% | 68 |
| ORCL Oracle | 2.50% | 150.85 | -0.72% | +2.99% | +18.26% | -22.13% | 66 |
| PATH UiPath | 2.50% | 18.15 | -0.98% | +10.74% | +46.73% | +10.74% | 89 |
| ADBE Adobe | 2.50% | 291.52 | +0.82% | +5.89% | +17.60% | -16.71% | 63 |
| INTU Intuit | 2.50% | 358.06 | +2.89% | -2.44% | +13.49% | -45.68% | 47 |
| VEEV Veeva | 2.50% | 276.69 | -1.93% | +11.61% | +37.27% | +23.95% | 82 |
| CSGP CoStar | 2.50% | 32.22 | +2.81% | -0.12% | +9.37% | -52.08% | 24 |
| IOT Samsara | 2.50% | 41.16 | -1.70% | +3.05% | +14.97% | +16.11% | 58 |
| TEM Tempus AI | 2.50% | 64.04 | -9.41% | -11.90% | +44.59% | +8.45% | 87 |
| HUBS HubSpot | 2.50% | 260.68 | +1.90% | +8.61% | +11.83% | -35.04% | 37 |
| TEAM Atlassian | 2.50% | 191.87 | +3.36% | +11.67% | +95.54% | +18.33% | 97 |
| PTC PTC | 2.50% | 157.15 | -1.13% | +1.60% | +15.30% | -9.79% | 61 |
| DASTY Dassault Systèmes | 2.50% | 26.59 | -1.19% | +1.64% | +14.61% | -3.74% | 55 |
| SIEGY Siemens | 2.50% | 167.45 | +0.17% | +2.32% | +2.70% | +22.12% | 8 |
| 0268.HK Kingdee | 2.50% | 8.95 | +6.23% | +8.48% | +10.90% | -32.66% | 29 |
| 4478.T freee | 2.50% | 4435.00 | +4.85% | +17.33% | +63.96% | +47.59% | 95 |
| 3994.T Money Forward | 2.50% | 6712.00 | +4.42% | +10.03% | +12.81% | +43.79% | 42 |
| 4180.T Appier | 2.50% | 1321.00 | +1.69% | +1.23% | +35.07% | +23.00% | 79 |
| MNDY monday.com | 2.50% | 100.71 | +1.21% | +11.00% | +14.24% | -31.75% | 53 |
| SHOP Shopify | 2.50% | 152.90 | -0.93% | +2.45% | +24.92% | -5.01% | 71 |
| APP AppLovin | 2.50% | 317.76 | +1.64% | +3.92% | -21.32% | -52.84% | 0 |
| RDDT Reddit | 2.50% | 153.00 | -0.62% | -0.19% | -14.06% | -33.44% | 3 |
| DUOL Duolingo | 2.50% | 146.98 | +2.88% | +0.58% | +10.01% | -16.25% | 26 |
| SPOT Spotify | 2.50% | 547.51 | +3.84% | +2.58% | +4.76% | -5.72% | 16 |
| NFLX Netflix | 2.50% | 81.72 | +2.35% | +2.68% | +11.69% | -12.84% | 34 |
| MELI MercadoLibre | 2.50% | 1966.25 | +1.84% | +2.26% | +4.27% | -2.38% | 13 |
| SE Sea Limited | 2.50% | 119.36 | +0.88% | +1.56% | +12.35% | -6.44% | 39 |
| TOST Toast | 2.50% | 35.15 | -0.06% | -4.07% | +7.00% | -1.01% | 18 |
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
AW40 dispersion — data Q&A
Is AW40's move broad or carried by a few names (21 sessions)?
As of 2026-08-28: over 21 sessions the fund returned +17.14% while its median constituent returned +13.66% — a dispersion of 21.39 pp; 37% of 38 members beat the fund. Broad advance - breadth is rising with price.
How did AW40's members trade in the last session?
As of 2026-08-28: fund +3.74%, median member +1.60%, 27 advancers vs 11 decliners.
What does the dispersion page for AW40 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. 38 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.