Constituent dispersion · breadth vs the index
CIBR — First Trust Nasdaq Cybersecurity
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 | +3.91% | +0 | -7pp | -1.24pp | In line |
| 1 month | +9.49% | +1.8 | -7pp | -0.91pp | Confirming ↑ |
| 1 quarter | +10.69% | +0.59 | +12pp | +13.55pp | Confirming ↑ |
Over the last 126 sessions: price up +55.73%, breadth up (+9.46/name) · % beating 51→49 · median−ETF +1.00pp→-0.64pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -2.21% | -1.90% | +0.31pp | 12 / 27 | 23 / 18 | 11 of 41 | ±4.45% |
| 5d | +3.91% | +1.65% | -2.26pp | 28 / 13 | 11 / 30 | 2 of 41 | ±5.81% |
| 21d | +9.49% | +8.85% | -0.64pp | 32 / 9 | 20 / 21 | 3 of 41 | ±13.27% |
| YTD | +38.18% | +29.24% | -8.95pp | 31 / 9 | 18 / 22 | 0 of 40 | ±40.75% |
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)
- ESTC+19.31%+0.18pp
- CHKP+3.82%+0.08pp
- GEN+1.70%+0.04pp
- GOOGL+1.74%+0.03pp
- MSFT+1.68%+0.02pp
- CRWD-4.19%-0.44pp
- FTNT-3.92%-0.37pp
- PANW-2.94%-0.3pp
- RBRK-13.05%-0.25pp
- CSCO-1.98%-0.18pp
This month (21d)
- CRWD+17.91%+1.89pp
- PANW+14.10%+1.44pp
- FTNT+7.62%+0.72pp
- ZS+24.15%+0.59pp
- RBRK+29.99%+0.57pp
- AVGO-4.91%-0.35pp
- DDOG-11.76%-0.35pp
- CSCO-3.20%-0.29pp
- AKAM-5.52%-0.2pp
- ATEN-14.19%-0.04pp
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)
- ESTC+55.50%
- QLYS+31.99%
- RBRK+29.99%
- FROG+25.91%
- LDOS+25.13%
- ATEN-14.19%
- DDOG-11.76%
- ATO.FP-7.05%
- AKAM-5.52%
- AVGO-4.91%
CIBR — constituent leadership race
$100 in each covered CIBR constituent at 2025-12-30, 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 — 41 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CRWD Crowdstrike Holdings | 10.55% | 218.40 | -4.19% | +13.78% | +17.91% | +86.36% | 78 |
| PANW Palo Alto Networks | 10.24% | 371.59 | -2.94% | +3.83% | +14.10% | +101.73% | 61 |
| FTNT Fortinet Inc | 9.41% | 166.00 | -3.92% | +8.14% | +7.62% | +109.04% | 44 |
| CSCO Cisco Systems Inc | 8.93% | 109.93 | -1.98% | -1.00% | -3.20% | +44.25% | 17 |
| AVGO Broadcom Ltd | 7.16% | 368.79 | -0.74% | +0.09% | -4.91% | +6.78% | 10 |
| NET Cloudflare Inc Cl A | 4.26% | 299.84 | -2.72% | +2.29% | +5.80% | +52.09% | 32 |
| AKAM Akamai Technologies | 3.54% | 107.47 | -3.39% | -2.67% | -5.52% | +23.17% | 7 |
| FFIV F5 Inc | 3.03% | 394.24 | -3.90% | +2.50% | +1.41% | +54.45% | 27 |
| DDOG Datadog Inc Cl A | 2.97% | 236.98 | -2.45% | +0.58% | -11.76% | +74.26% | 2 |
| OKTA Okta Inc Cl A | 2.94% | 166.23 | -3.86% | +23.01% | +18.38% | +92.24% | 80 |
| NTAP Netapp Inc | 2.46% | 187.02 | -1.90% | -2.73% | +7.50% | +76.39% | 41 |
| ZS Zscaler Inc | 2.44% | 184.23 | -1.64% | +1.37% | +24.15% | -18.09% | 85 |
| GEN Gen Digital Inc | 2.23% | 31.02 | +1.70% | +7.22% | +13.67% | +15.31% | 56 |
| CHKP Check Point Software | 2.11% | 138.32 | +3.82% | +5.95% | +7.87% | -25.46% | 46 |
| RBRK Rubrik Inc Cl A | 1.90% | 93.05 | -13.05% | -7.03% | +29.99% | +21.67% | 93 |
| FROG Jfrog Ltd | 1.81% | 98.74 | -5.09% | +7.17% | +25.91% | +58.09% | 90 |
| IBM Intl Business Machines | 1.71% | 235.59 | -1.34% | -0.04% | +6.25% | -20.01% | 37 |
| ANET Arista Networks Inc | 1.70% | 195.38 | -2.84% | +3.57% | +14.24% | +49.11% | 63 |
| DT Dynatrace Inc | 1.64% | 53.67 | +0.45% | +8.86% | +21.70% | +23.83% | 83 |
| GOOGL Alphabet Cl A | 1.63% | 346.59 | +1.74% | +0.51% | +3.88% | +10.81% | 29 |
| MSFT Microsoft Corp | 1.49% | 513.53 | +1.68% | +6.27% | +13.84% | +6.43% | 59 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 75.24 | +0.48% | -2.35% | +10.14% | -10.13% | 54 |
| HO.FP Thales | 1.21% | 244.70 | -0.81% | -3.32% | +0.58% | +6.48% | 22 |
| INFY Infosys Ltd ADR | 1.19% | 12.05 | +1.26% | +0.92% | +0.84% | -30.92% | 24 |
| ACN Accenture Plc | 1.17% | 189.61 | +1.19% | +2.34% | +16.12% | -28.31% | 71 |
| BB Blackberry Ltd | 1.10% | 8.16 | -5.66% | +1.49% | -3.32% | +115.30% | 15 |
| LDOS Leidos Holdings Inc | 0.97% | 140.66 | +0.57% | -0.52% | +25.13% | -21.84% | 88 |
| ESTC Elastic N.V. | 0.94% | 99.91 | +19.31% | +16.26% | +55.50% | +32.44% | 98 |
| OTEX.TO Open Text Corporation | 0.93% | 34.86 | +0.00% | +2.62% | -4.18% | -20.25% | 12 |
| S Sentinelone Inc Cl A | 0.88% | 21.54 | -5.15% | +1.65% | +17.07% | +43.60% | 73 |
| SAIC Science Applications International | 0.81% | 125.96 | -2.33% | -1.62% | +8.85% | +26.04% | 49 |
| CVLT Commvault Systems | 0.77% | 137.04 | -2.37% | +2.41% | +17.71% | +9.31% | 76 |
| VRNS Varonis Systems Inc | 0.60% | 43.92 | -1.92% | +6.52% | +9.99% | +33.90% | 51 |
| QLYS Qualys Inc | 0.57% | 187.05 | -0.82% | +2.79% | +31.99% | +40.74% | 95 |
| TENB Tenable Holdings Inc | 0.50% | 37.67 | +0.13% | +9.57% | +15.73% | +60.09% | 68 |
| FSLY Fastly Inc | 0.47% | 23.04 | -6.49% | -7.66% | +6.91% | — | 39 |
| NTCT Netscout Systems | 0.43% | 39.06 | -1.01% | +1.48% | -2.45% | +44.35% | 20 |
| ATEN A10 Networks Inc | 0.30% | 25.70 | -4.92% | -1.61% | -14.19% | +46.02% | 0 |
| ZD Ziff Davis Inc | 0.26% | 55.82 | +0.00% | -0.46% | +6.10% | +58.81% | 34 |
| RDWR Radware Ltd | 0.19% | 28.60 | -3.28% | +2.69% | +14.72% | +18.72% | 66 |
| ATO.FP Atos Se | 0.16% | 29.00 | +1.68% | -0.14% | -7.05% | -42.20% | 5 |
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
CIBR dispersion — data Q&A
Is CIBR's move broad or carried by a few names (21 sessions)?
As of 2026-08-28: over 21 sessions the fund returned +9.49% while its median constituent returned +8.85% — a dispersion of 13.27 pp; 49% of 41 members beat the fund. Broad advance - breadth is rising with price.
How did CIBR's members trade in the last session?
As of 2026-08-28: fund -2.21%, median member -1.90%, 12 advancers vs 27 decliners.
What does the dispersion page for CIBR 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. 41 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.