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 | +2.07% | +0.74 | — | — | Confirming ↑ |
| 1 month | -0.40% | -0.68 | — | — | Weakening |
| 1 quarter | +18.83% | +0.71 | — | — | Confirming ↑ |
Over the last 126 sessions: price up +18.69%, breadth up (+0.34/name) · % beating 47→44 · median−ETF -1.89pp→-1.53pp.
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 2026-10-13.
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 | 17 (45%) | 4 (11%) | +13 |
| 1-Month | 6 (16%) | 0 (0%) | +6 |
| 3-Month | 4 (11%) | 0 (0%) | +4 |
| 6-Month | 4 (11%) | 0 (0%) | +4 |
| 52-Week | 4 (11%) | 0 (0%) | +4 |
| YTD | 4 (11%) | 0 (0%) | +4 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.03% | +0.23% | +0.21pp | 23 / 15 | 22 / 16 | 15 of 38 | ±2.48% |
| 5d | +2.07% | +2.48% | +0.41pp | 28 / 10 | 20 / 18 | 10 of 38 | ±5.59% |
| 21d | -0.40% | +1.37% | +1.77pp | 22 / 16 | 24 / 14 | 4 of 38 | ±12.55% |
| YTD | -5.08% | -8.67% | -3.59pp | 17 / 21 | 17 / 21 | 1 of 38 | ±27.18% |
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)
- 3994.T+8.24%+0.21pp
- SHOP+4.90%+0.12pp
- ORCL+4.59%+0.11pp
- 4478.T+4.25%+0.11pp
- 0268.HK+3.45%+0.09pp
- MNDY-4.72%-0.12pp
- TEM-4.14%-0.1pp
- APP-2.23%-0.06pp
- HUBS-2.16%-0.05pp
- ADBE-1.70%-0.04pp
This month (21d)
- PTC+48.64%+1.22pp
- SHOP+39.16%+0.98pp
- PLTR+24.98%+0.62pp
- TEAM+15.61%+0.39pp
- TEM+15.22%+0.38pp
- APP-16.39%-0.41pp
- SE-9.75%-0.24pp
- NFLX-8.77%-0.22pp
- ORCL-7.55%-0.19pp
- 4180.T-5.79%-0.14pp
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)
- PTC+48.64%
- SHOP+39.16%
- PLTR+24.98%
- TEAM+15.61%
- TEM+15.22%
- APP-16.39%
- SE-9.75%
- NFLX-8.77%
- ORCL-7.55%
- 4180.T-5.79%
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% | 541.15 | +1.14% | +3.04% | +9.18% | +12.15% | 76 |
| AMZN Amazon | 2.50% | 259.53 | -1.11% | +3.23% | +1.07% | +12.44% | 45 |
| GOOGL Alphabet | 2.50% | 352.72 | +0.30% | +1.80% | +4.20% | +12.77% | 61 |
| META Meta | 2.50% | 742.96 | +3.38% | +0.14% | +14.74% | +12.65% | 84 |
| AAPL Apple | 2.50% | 340.97 | +1.29% | +2.43% | +2.62% | +25.54% | 53 |
| NVDA Nvidia | 2.50% | 226.32 | -1.29% | -5.27% | +3.68% | +21.50% | 58 |
| PLTR Palantir | 2.50% | 209.00 | -0.02% | +10.35% | +24.98% | +17.58% | 92 |
| NOW ServiceNow | 2.50% | 140.32 | -0.38% | +3.12% | +5.88% | -8.40% | 68 |
| CRM Salesforce | 2.50% | 233.92 | +2.09% | +1.80% | -5.40% | -11.48% | 16 |
| WDAY Workday | 2.50% | 188.25 | +0.89% | -0.38% | +1.37% | -12.35% | 50 |
| SAP SAP | 2.50% | 217.85 | +1.43% | +4.87% | +5.57% | -10.32% | 63 |
| ORCL Oracle | 2.50% | 141.40 | +4.59% | -0.26% | -7.55% | -27.01% | 8 |
| PATH UiPath | 2.50% | 13.32 | -1.19% | +1.22% | -3.13% | -18.73% | 26 |
| ADBE Adobe | 2.50% | 238.14 | -1.70% | -0.27% | -5.59% | -31.96% | 13 |
| INTU Intuit | 2.50% | 305.99 | +1.07% | +7.99% | -4.84% | -53.58% | 18 |
| VEEV Veeva | 2.50% | 295.85 | -0.09% | +4.37% | +12.75% | +32.53% | 82 |
| CSGP CoStar | 2.50% | 29.21 | -1.55% | +5.60% | -4.10% | -56.56% | 21 |
| IOT Samsara | 2.50% | 41.62 | +0.17% | -1.82% | +8.44% | +17.40% | 74 |
| TEM Tempus AI | 2.50% | 67.99 | -4.14% | -18.62% | +15.22% | +15.14% | 87 |
| HUBS HubSpot | 2.50% | 223.37 | -2.16% | +1.25% | -0.87% | -44.34% | 34 |
| TEAM Atlassian | 2.50% | 207.75 | +0.46% | +5.64% | +15.61% | +28.13% | 89 |
| PTC PTC | 2.50% | 194.39 | -0.03% | +1.11% | +48.64% | +11.58% | 97 |
| DASTY Dassault Systèmes | 2.50% | 24.72 | +1.10% | +2.62% | +5.60% | -10.51% | 66 |
| SIEGY Siemens | 2.50% | 153.36 | +0.31% | -0.89% | -0.01% | +11.85% | 39 |
| 0268.HK Kingdee | 2.50% | 8.11 | +3.45% | +10.88% | +7.78% | -39.01% | 71 |
| 4478.T freee | 2.50% | 3680.00 | +4.25% | +6.36% | -3.66% | +22.46% | 24 |
| 3994.T Money Forward | 2.50% | 6827.00 | +8.24% | +14.03% | +9.74% | +46.25% | 79 |
| 4180.T Appier | 2.50% | 1368.00 | +3.32% | -2.56% | -5.79% | +27.37% | 11 |
| MNDY monday.com | 2.50% | 84.76 | -4.72% | +2.54% | -2.40% | -42.56% | 32 |
| SHOP Shopify | 2.50% | 179.22 | +4.90% | +11.94% | +39.16% | +11.34% | 95 |
| APP AppLovin | 2.50% | 270.87 | -2.23% | -3.94% | -16.39% | -59.80% | 0 |
| RDDT Reddit | 2.50% | 159.93 | +0.01% | +6.32% | +1.37% | -30.43% | 47 |
| DUOL Duolingo | 2.50% | 147.74 | -1.45% | +0.44% | +2.83% | -15.82% | 55 |
| SPOT Spotify | 2.50% | 528.80 | -0.06% | +9.47% | +0.58% | -8.94% | 42 |
| NFLX Netflix | 2.50% | 70.61 | +0.44% | +4.61% | -8.77% | -24.69% | 5 |
| MELI MercadoLibre | 2.50% | 1892.44 | +0.14% | +1.71% | -0.26% | -6.05% | 37 |
| SE Sea Limited | 2.50% | 95.88 | +0.66% | -1.00% | -9.75% | -24.84% | 3 |
| TOST Toast | 2.50% | 31.32 | +0.03% | +4.26% | -2.49% | -11.80% | 29 |
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 2026-10-13: over 21 sessions the fund returned -0.40% while its median constituent returned +1.37% — a dispersion of 12.55 pp; 63% of 38 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did AW40's members trade in the last session?
As of 2026-10-13: fund +0.03%, median member +0.23%, 23 advancers vs 15 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 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.