Constituent dispersion · breadth vs the index
IGV — iShares Expanded Tech-Software
Concentration 38.16% in top 5 21.93 effective names · HHI 456
RS vs S&P 500 21d -4.88pp sector return − SPY
RS vs Nasdaq-100 21d -8.68pp sector return − QQQ
Broad decline - breadth is falling with price. Last 21 sessions — price -3.11% · A/D -164 (-1.49/name)
IGV price
Cumulative advance / decline of constituents — rises when more names are up than down; turns before price at inflections
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 | -1.99% | -0.49 | -7pp | -2.57pp | Confirming ↓ |
| 1 month | -3.11% | -1.49 | +21pp | +6.02pp | Confirming ↓ |
| 1 quarter | +5.48% | +2.07 | +11pp | +3.84pp | Confirming ↑ |
Over the last 126 sessions: price down -14.91%, breadth down (-2.81/name) · % beating 50→52 · median−ETF +0.03pp→+0.46pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.08% | +0.11% | +0.19pp | 58 / 52 | 59 / 51 | 42 of 110 | ±2.43% |
| 5d | -1.99% | -2.99% | -1.00pp | 30 / 79 | 48 / 62 | 16 of 110 | ±5.97% |
| 21d | -3.11% | -2.75% | +0.36pp | 48 / 62 | 57 / 53 | 7 of 110 | ±15.45% |
| YTD | -15.71% | -24.36% | -8.66pp | 28 / 82 | 44 / 66 | 1 of 110 | ±47.05% |
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)
- PANW+2.00%+0.15pp
- TTWO+4.93%+0.08pp
- ORCL+0.41%+0.04pp
- QBTS+7.72%+0.03pp
- CIFR+10.74%+0.02pp
- CRM-2.09%-0.13pp
- PLTR-1.65%-0.12pp
- APP-2.04%-0.1pp
- MSTR-3.46%-0.07pp
- SNPS-1.35%-0.05pp
This month (21d)
- PANW+19.84%+1.49pp
- CRWD+11.02%+0.67pp
- CDNS+14.57%+0.53pp
- FTNT+13.39%+0.41pp
- ORCL+1.56%+0.14pp
- INTU-33.20%-0.97pp
- CRM-15.41%-0.93pp
- ADBE-23.46%-0.87pp
- MSFT-8.91%-0.73pp
- MSTR-31.65%-0.61pp
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)
- CIFR+55.21%
- WULF+35.80%
- QBTS+35.73%
- BB+34.94%
- HUT+33.36%
- INTU-33.20%
- MSTR-31.65%
- ZS-28.76%
- CRCL-27.74%
- ADBE-23.46%
IGV — constituent leadership race
$100 in each covered IGV constituent at 2025-12-16, rebased to 100. Watch leadership change hands.
0%
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 — 110 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ORCL Oracle Corp | 9.21% | 184.29 | +0.41% | +0.10% | +1.56% | -4.87% | 61 |
| MSFT Microsoft Corp | 8.19% | 379.40 | +0.13% | -2.80% | -8.91% | -21.37% | 32 |
| PANW Palo Alto Networks | 7.49% | 287.78 | +2.00% | +2.95% | +19.84% | +56.23% | 89 |
| PLTR Palantir Technologies Cl A | 7.18% | 128.47 | -1.65% | -1.99% | -5.02% | -27.72% | 40 |
| CRWD Crowdstrike Holdings | 6.06% | 684.86 | +0.28% | -0.96% | +11.02% | +46.10% | 79 |
| CRM Salesforce Inc | 6.05% | 151.78 | -2.09% | -8.81% | -15.41% | -42.56% | 14 |
| APP Applovin Corp Cl A | 4.82% | 469.71 | -2.04% | -1.85% | -1.51% | -30.29% | 54 |
| ADBE Adobe Systems Inc | 3.71% | 195.16 | -0.57% | -10.80% | -23.46% | -44.24% | 4 |
| CDNS Cadence Design Sys | 3.62% | 387.39 | -0.57% | +0.95% | +14.57% | +23.93% | 85 |
| NOW Servicenow Inc | 3.61% | 95.04 | -0.46% | -7.80% | -6.67% | -37.96% | 36 |
| SNPS Synopsys Inc | 3.57% | 455.51 | -1.35% | -0.17% | -7.77% | -3.03% | 34 |
| FTNT Fortinet Inc | 3.03% | 144.73 | +0.41% | -0.23% | +13.39% | +82.26% | 83 |
| INTU Intuit Inc | 2.92% | 267.00 | -0.77% | -3.58% | -33.20% | -59.49% | 0 |
| DDOG Datadog Inc Cl A | 2.65% | 223.00 | -1.60% | -4.80% | +3.65% | +63.98% | 68 |
| MSTR Strategy Inc | 1.92% | 112.53 | -3.46% | -6.34% | -31.65% | -25.94% | 1 |
| ADSK Autodesk Inc | 1.89% | 193.82 | +0.39% | -5.72% | -20.62% | -34.52% | 5 |
| EA Electronic Arts Inc | 1.69% | 202.15 | -0.43% | -0.44% | +0.32% | -0.97% | 57 |
| TTWO Take-Two Interactive | 1.54% | 239.28 | +4.93% | +12.83% | +0.48% | -6.54% | 59 |
| ROP Roper Industries | 1.28% | 330.26 | +0.09% | -0.74% | +0.41% | -25.47% | 58 |
| FICO Fair Isaac and Company | 1.08% | 1096.48 | -2.69% | -7.50% | -7.56% | -35.14% | 35 |
| WDAY Workday Inc | 0.96% | 116.93 | -4.02% | -10.42% | -9.59% | -45.56% | 29 |
| ZM Zoom Communications Inc | 0.95% | 86.36 | -1.18% | -6.46% | -11.33% | +0.08% | 24 |
| ZS Zscaler Inc | 0.65% | 124.85 | +0.38% | -1.00% | -28.76% | -44.49% | 2 |
| PTC Ptc Inc | 0.64% | 114.75 | -1.87% | -3.07% | -20.97% | -34.13% | 5 |
| TEAM Atlassian Corp | 0.52% | 82.72 | -1.98% | -7.26% | -4.50% | -48.98% | 44 |
| GEN Gen Digital Inc | 0.51% | 24.18 | +1.04% | +1.00% | -0.58% | -10.12% | 55 |
| TRMB Trimble Navigation | 0.49% | 49.16 | +0.59% | -1.68% | -9.90% | -37.26% | 27 |
| TYL Tyler Technologies | 0.49% | 278.91 | -3.06% | -5.61% | -13.58% | -38.56% | 20 |
| NTNX Nutanix Inc | 0.45% | 46.90 | +0.93% | -4.69% | -2.84% | -9.27% | 49 |
| DT Dynatrace Inc | 0.43% | 41.42 | +0.41% | +2.60% | +3.65% | -4.43% | 69 |
| GWRE Guidewire Software Inc | 0.43% | 111.17 | -5.36% | -4.65% | -18.91% | -44.69% | 7 |
| IOT Samsara Inc Cl A | 0.40% | 31.69 | +0.28% | -1.77% | +2.92% | -10.61% | 65 |
| HUBS Hubspot Inc | 0.39% | 176.03 | -0.38% | -5.58% | -15.45% | -56.14% | 13 |
| HUT Hut 8 Corp | 0.38% | 124.44 | +4.68% | +6.99% | +33.36% | +170.88% | 95 |
| RBRK Rubrik Inc Cl A | 0.37% | 70.22 | +1.42% | -1.72% | +9.16% | -8.19% | 76 |
| DOCU Docusign Inc | 0.36% | 43.47 | +2.09% | -2.42% | -12.04% | -36.45% | 23 |
| QBTS D-Wave Quantum Inc | 0.35% | 24.69 | +7.72% | +3.65% | +35.73% | -5.58% | 97 |
| BMNR Bitmine Immersion Technologies | 0.33% | 16.14 | +2.80% | -2.30% | -13.37% | -40.55% | 21 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 6.28 | +3.80% | +5.19% | -9.51% | +63.54% | 30 |
| U Unity Software Inc | 0.33% | 27.48 | +3.82% | +2.88% | +4.89% | -37.79% | 73 |
| WULF Terawulf Inc | 0.32% | 28.98 | +4.02% | +14.32% | +35.80% | +152.22% | 98 |
| MANH Manhattan Assoc | 0.30% | 132.28 | +0.14% | -5.71% | -2.32% | -23.67% | 51 |
| RIOT Riot Platforms Inc | 0.29% | 28.10 | +2.44% | +7.50% | +24.09% | +121.78% | 92 |
| CORZ Core Scientific Inc | 0.29% | 29.16 | +2.75% | +7.13% | +27.23% | +100.27% | 94 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.29 | +0.12% | -0.45% | -0.33% | +0.70% | 55 |
| IDCC Interdigital Inc | 0.25% | 296.04 | +3.47% | +7.00% | +11.80% | -6.60% | 81 |
| CIFR Cipher Digital Inc | 0.23% | 29.18 | +10.74% | +28.94% | +55.21% | +97.70% | 99 |
| SNAP Snap Inc | 0.23% | 4.66 | -1.69% | -12.57% | -16.04% | -42.26% | 9 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 80.23 | -0.45% | -2.90% | -27.74% | +1.17% | 3 |
| DSGX Descartes Sys Group | 0.23% | 67.33 | -4.28% | -8.46% | -4.55% | -23.19% | 42 |
| S Sentinelone Inc Cl A | 0.22% | 15.02 | +1.49% | +1.76% | -14.95% | +0.13% | 15 |
| OTEX Open Text Corp | 0.22% | 20.69 | -1.80% | -5.40% | -8.27% | -35.06% | 33 |
| PCOR Procore Technologies Inc | 0.21% | 39.99 | -0.27% | -5.24% | -15.58% | -45.02% | 11 |
| YOU Clear Secure Inc Cl A | 0.20% | 51.45 | +1.34% | +0.88% | -14.21% | +47.56% | 16 |
| MARA Mara Holdings Inc | 0.19% | 14.22 | +2.16% | +4.48% | +14.31% | +58.35% | 84 |
| ESTC Elastic N.V. | 0.18% | 58.97 | +0.70% | -2.08% | +9.77% | -21.83% | 77 |
| BSY Bentley Systems Inc Cl B | 0.18% | 29.38 | +0.14% | -3.89% | -10.82% | -22.73% | 25 |
| DBX Dropbox Inc | 0.18% | 25.97 | -1.67% | -3.74% | -5.67% | -6.58% | 37 |
| CVLT Commvault Systems | 0.17% | 130.03 | +2.31% | +2.52% | +27.52% | +3.73% | 95 |
| PATH Uipath Inc Cl A | 0.17% | 10.27 | +0.39% | -3.57% | -2.65% | -37.34% | 50 |
| ACIW Aci Worldwide Inc | 0.16% | 44.09 | -1.23% | -0.61% | +3.52% | -7.78% | 67 |
| CLSK Cleanspark Inc | 0.15% | 17.24 | +2.74% | +6.62% | +17.36% | +70.36% | 87 |
| APPF Appfolio Cl A | 0.15% | 151.50 | +1.96% | -5.12% | -5.21% | -34.88% | 39 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 18.90 | +2.16% | -5.78% | +3.28% | -7.13% | 66 |
| GTLB Gitlab Inc Cl A | 0.13% | 26.56 | +0.34% | -6.48% | +4.32% | -29.23% | 71 |
| BOX Box Inc | 0.13% | 24.84 | -0.40% | -2.55% | -3.35% | -16.95% | 46 |
| BB Blackberry Ltd | 0.13% | 8.38 | -5.10% | -9.80% | +34.94% | +121.11% | 96 |
| VRNS Varonis Systems Inc | 0.13% | 33.55 | +1.42% | +0.27% | +12.70% | +2.29% | 82 |
| QLYS Qualys Inc | 0.13% | 111.30 | -0.78% | +0.42% | +11.20% | -16.25% | 80 |
| TTAN Servicetitan Inc Cl A | 0.13% | 64.23 | +2.85% | -5.88% | +2.85% | -39.69% | 65 |
| DLB Dolby Laboratories | 0.12% | 52.33 | +2.15% | -0.76% | -1.95% | -17.56% | 52 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 7.12 | +2.30% | +1.71% | -15.74% | -28.59% | 10 |
| BILL Bill Holdings Inc | 0.12% | 32.47 | +0.87% | +1.06% | -13.99% | -40.47% | 18 |
| RNG Ringcentral Inc | 0.12% | 35.02 | -1.46% | -7.03% | -17.65% | +21.66% | 8 |
| LIF Life360 Inc | 0.12% | 49.02 | +4.21% | +8.26% | +25.44% | -23.57% | 93 |
| PEGA Pegasystems Inc | 0.12% | 30.09 | -0.46% | -8.29% | -10.18% | -49.55% | 26 |
| TDC Teradata Corp | 0.11% | 30.88 | -2.71% | -5.85% | -5.42% | +1.45% | 38 |
| TENB Tenable Holdings Inc | 0.11% | 26.87 | -0.04% | +0.00% | +6.42% | +14.19% | 74 |
| ADEA Adeia Inc | 0.11% | 31.81 | +1.37% | -2.48% | +20.61% | +85.14% | 90 |
| QTWO Q2 Holdings Inc | 0.11% | 42.85 | -2.10% | -1.08% | -9.27% | -40.62% | 31 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 4.41 | +0.46% | -4.13% | -4.34% | -44.53% | 45 |
| WK Workiva Llc | 0.10% | 47.37 | -1.37% | -3.58% | -4.67% | -45.08% | 41 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.74 | +0.35% | +0.32% | +0.16% | +28.50% | 56 |
| BRZE Braze Inc Cl A | 0.08% | 20.20 | +0.15% | -6.74% | -7.17% | -41.09% | 35 |
| ALRM Alarm.com | 0.08% | 44.38 | -1.88% | -4.37% | +2.09% | -13.01% | 63 |
| KVYO Klaviyo Inc Series A | 0.08% | 13.25 | -1.56% | -7.28% | -9.86% | -59.19% | 28 |
| AGYS Agilysys Inc | 0.08% | 87.51 | -0.17% | -4.65% | +10.86% | -26.36% | 78 |
| SPSC Sps Commerce Inc | 0.07% | 53.13 | +0.55% | -3.26% | +1.20% | -40.39% | 60 |
| ATEN A10 Networks Inc | 0.07% | 33.26 | +1.03% | +1.84% | +17.61% | +88.98% | 88 |
| NN Nextnav Inc | 0.07% | 18.18 | -1.78% | -20.19% | -20.33% | +9.25% | 6 |
| FRSH Freshworks Inc Cl A | 0.07% | 8.86 | -1.34% | -3.90% | -2.85% | -27.67% | 48 |
| FIVN Five9 Inc | 0.06% | 19.40 | +0.18% | -6.89% | -13.88% | -3.27% | 19 |
| NCNO Ncino Inc | 0.06% | 14.80 | -4.45% | +0.41% | -1.66% | -42.28% | 53 |
| AVPT Avepoint Inc Cl A | 0.05% | 10.41 | -3.16% | -4.06% | +1.76% | -25.05% | 62 |
| BL Blackline Inc | 0.05% | 26.77 | -0.11% | -4.15% | -10.86% | -51.58% | 25 |
| ALKT Alkami Technology Inc | 0.05% | 14.68 | -2.72% | -1.54% | -12.41% | -36.37% | 22 |
| PRGS Progress Software | 0.04% | 29.68 | -1.33% | -6.05% | +2.38% | -30.91% | 64 |
| AI C3.Ai Inc Cl A | 0.04% | 10.30 | +0.10% | -8.61% | +16.65% | -23.59% | 86 |
| INTA Intapp Inc | 0.04% | 22.04 | +0.05% | -5.00% | +7.51% | -51.90% | 75 |
| BLKB Blackbaud Inc | 0.04% | 27.04 | +1.01% | -1.17% | -13.99% | -57.30% | 17 |
| LSPD Lightspeed Commerce Inc | 0.04% | 9.40 | +0.86% | -3.29% | +8.42% | -22.19% | 75 |
| VERX Vertex Inc Cl A | 0.04% | 11.12 | -2.63% | -8.18% | -15.57% | -44.32% | 12 |
| VYX NCR Voyix Corporation | 0.03% | 7.49 | -0.40% | +5.20% | +15.59% | -26.57% | 85 |
| APPN Appian Corp Cl A | 0.03% | 20.95 | -2.83% | -11.38% | -3.50% | -40.85% | 45 |
| PD Pagerduty Inc | 0.02% | 8.48 | -1.62% | -3.31% | +23.08% | -35.32% | 91 |
| CXM Sprinklr Inc Cl A | 0.02% | 5.04 | -1.56% | -6.32% | -4.55% | -35.22% | 43 |
| ASAN Asana Inc Cl A | 0.02% | 6.92 | -2.54% | -7.24% | +4.37% | -49.53% | 72 |
| PAR Par Technology Corp | 0.02% | 15.29 | +2.96% | +4.58% | +3.94% | -57.86% | 70 |
| RPD Rapid7 Inc | 0.02% | 6.73 | -0.59% | -5.61% | -3.30% | -55.72% | 47 |
| NABL N-Able Inc | 0.01% | 3.06 | +0.33% | -4.08% | -14.76% | -59.09% | 15 |
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.