Constituent dispersion · breadth vs the index
MXI — Global Materials
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 | -0.53% | +0.44 | -11pp | -2.42pp | Improving |
| 1 month | +7.50% | +0.94 | -37pp | -6.97pp | Confirming ↑ |
| 1 quarter | +3.73% | +0.87 | -24pp | -5.43pp | Confirming ↑ |
Over the last 126 sessions: price up +1.19%, breadth down (-1.02/name) · % beating 50→24 · median−ETF +0.02pp→-5.56pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.92% | +0.36% | +1.28pp | 33 / 17 | 45 / 7 | 18 of 52 | ±1.2% |
| 5d | -0.53% | +0.46% | +0.99pp | 32 / 20 | 34 / 18 | 13 of 52 | ±2.92% |
| 21d | +7.50% | +1.94% | -5.56pp | 35 / 16 | 12 / 39 | 4 of 51 | ±8.17% |
| YTD | +21.34% | +14.84% | -6.50pp | 35 / 14 | 20 / 30 | 3 of 50 | ±20.98% |
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)
- AI+1.94%+0.08pp
- LIN+0.86%+0.07pp
- CTVA+1.82%+0.03pp
- APD+0.86%+0.02pp
- GIVN.SW+1.47%+0.01pp
- NEM-3.26%-0.13pp
- FCX-2.51%-0.07pp
- SCCO-3.00%-0.01pp
- NUE-0.74%-0.01pp
- AAL-0.58%-0.01pp
This month (21d)
- NEM+33.65%+1.31pp
- AI+16.10%+0.64pp
- FCX+20.51%+0.6pp
- RIO+7.54%+0.28pp
- GLEN.LSE+10.50%+0.25pp
- LIN-3.76%-0.3pp
- AAL-11.60%-0.23pp
- CTVA-6.09%-0.11pp
- STLD-7.06%-0.07pp
- IP-8.90%-0.05pp
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)
- NEM+33.65%
- BOL.ST+20.95%
- FCX+20.51%
- ALB+16.64%
- AI+16.10%
- AAL-11.60%
- IP-8.90%
- STLD-7.06%
- CTVA-6.09%
- HEI-4.98%
MXI — constituent leadership race
$100 in each covered MXI constituent at 2026-01-06, 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 — 52 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 7.90% | 489.51 | +0.86% | +0.40% | -3.76% | +15.19% | 10 |
| AI C3.Ai Inc Cl A | 3.96% | 10.53 | +1.94% | +2.23% | +16.10% | -21.88% | 90 |
| NEM Newmont Mining Corp | 3.89% | 127.98 | -3.26% | -2.74% | +33.65% | +28.73% | 98 |
| RIO Rio Tinto Plc ADR | 3.65% | 7674.00 | -0.18% | +0.34% | +7.54% | +31.52% | 76 |
| FCX Freeport-Mcmoran Inc | 2.94% | 76.45 | -2.51% | -0.27% | +20.51% | +51.23% | 94 |
| GLEN.LSE GLENCORE PLC | 2.41% | 595.60 | +0.05% | +0.85% | +10.50% | +46.52% | 82 |
| SHW Sherwin-Williams Company | 2.35% | 344.86 | -0.10% | -0.50% | +0.01% | +6.66% | 31 |
| CRH CRH Plc ADR | 2.23% | 95.86 | +0.29% | +0.83% | -0.15% | -22.64% | 29 |
| APD Air Products and Chemicals | 2.13% | 308.09 | +0.86% | +0.98% | +2.63% | +26.42% | 57 |
| ECL Ecolab Inc | 2.10% | 286.75 | +0.29% | +1.82% | +2.65% | +9.52% | 59 |
| AAL American Airlines Gp | 1.97% | 13.64 | -0.58% | -1.30% | -11.60% | -11.02% | 0 |
| CTVA Corteva Inc | 1.75% | 83.90 | +1.82% | +2.58% | -6.09% | +25.74% | 6 |
| NUE Nucor Corp | 1.70% | 250.50 | -0.74% | +2.82% | -2.54% | +54.10% | 16 |
| RIO Rio Tinto Plc ADR | 1.58% | 7674.00 | -0.18% | +0.34% | +7.54% | +31.52% | 76 |
| HOLN.SW HOLCIM LTD AG | 1.52% | 73.02 | +0.36% | +3.87% | -3.18% | -3.84% | 14 |
| VMC Vulcan Materials Company | 1.14% | 274.51 | +0.24% | -0.55% | +1.21% | -3.38% | 39 |
| K Kellanova | 1.13% | 83.44 | +0.00% | +0.35% | — | +0.00% | — |
| MLM Martin Marietta Materials | 1.07% | 531.05 | +0.47% | -0.72% | -1.66% | -14.49% | 22 |
| STLD Steel Dynamics Inc | 1.05% | 234.67 | -0.50% | +2.62% | -7.06% | +38.91% | 4 |
| SIKA.XETRA SIKA AG | 0.96% | 205.30 | +0.39% | +3.32% | +5.72% | +20.26% | 69 |
| GIVN.SW GIVAUDAN SA | 0.95% | 3322.00 | +1.47% | +1.71% | +1.06% | +8.51% | 37 |
| DOW Dow Inc | 0.85% | 30.51 | +0.59% | -5.69% | +1.40% | +33.38% | 43 |
| HEI Heico Corp | 0.83% | 336.53 | -0.14% | -5.21% | -4.98% | +4.04% | 8 |
| PPG PPG Industries | 0.79% | 114.22 | +0.66% | +0.52% | +1.95% | +12.85% | 51 |
| DSFIR.SW DSM FIRMENICH AG | 0.68% | 89.75 | +1.41% | +6.09% | +2.16% | — | 55 |
| ALB Albemarle Corp | 0.66% | 137.36 | +1.17% | -4.11% | +16.64% | -2.64% | 92 |
| SW Smurfit Westrock Plc | 0.65% | 48.29 | -0.70% | -2.23% | +1.62% | +27.42% | 45 |
| DD Dupont Denemours Inc | 0.63% | 136.98 | -1.31% | -0.98% | -1.34% | +14.49% | 24 |
| IFF International Flavors & Fragrances | 0.63% | 87.95 | +1.27% | +4.35% | +10.66% | +31.28% | 84 |
| PKG Packaging Corp of America | 0.63% | 240.39 | -1.35% | -4.91% | -3.31% | +17.25% | 12 |
| CF Cf Industries Holdings | 0.63% | 125.79 | +0.06% | -2.94% | +0.02% | +64.18% | 33 |
| ANTO.LSE ANTOFAGASTA PLC | 0.59% | 4039.00 | +0.00% | +3.43% | +9.04% | +23.19% | 80 |
| LYB Lyondellbasell Industries NV | 0.59% | 63.67 | +0.97% | -4.74% | +5.34% | +50.39% | 67 |
| AMCR Amcor Plc | 0.58% | 46.67 | +0.32% | -3.95% | +3.37% | — | 61 |
| IP International Paper Company | 0.55% | 39.31 | -1.43% | -5.25% | -8.90% | +2.29% | 2 |
| BOL.ST BOLIDEN | 0.53% | 573.20 | +1.13% | +1.34% | +20.95% | +13.77% | 96 |
| NHY.OL NORSK HYDRO | 0.51% | 93.24 | +1.33% | +1.37% | +7.47% | +22.69% | 75 |
| UPM.HE UPM-KYMMENE | 0.51% | 24.00 | +0.67% | +1.39% | +2.08% | -0.40% | 53 |
| BALL Ball Corporation | 0.49% | 63.77 | +0.63% | +0.28% | -2.36% | +21.19% | 20 |
| SCCO Southern Copper Corp | 0.49% | 209.80 | -3.00% | -2.87% | +13.41% | +50.39% | 86 |
| S32.LSE SOUTH32 LTD | 0.44% | 277.00 | +0.36% | +7.03% | +14.75% | +58.41% | 88 |
| AVY Avery Dennison Corp | 0.41% | 177.75 | -0.33% | -3.24% | +1.68% | -1.16% | 47 |
| AKZA.AS AKZO NOBEL NV | 0.33% | 61.92 | +0.65% | +2.58% | +1.38% | +7.77% | 41 |
| YAR.OL YARA INTERNATIONAL | 0.31% | 446.40 | +1.87% | -0.82% | -0.89% | +7.83% | 25 |
| STERV.HE STORA ENSO CLASS R | 0.23% | 10.11 | +0.95% | +2.93% | +1.05% | -4.31% | 35 |
| MOS Mosaic Company | 0.23% | 23.60 | -0.67% | -3.32% | +3.65% | -0.20% | 63 |
| SCA-B.ST SVENSKA CELLULOSA B | 0.20% | 113.65 | +0.75% | +2.30% | +4.99% | -4.69% | 65 |
| CRDA.LSE CRODA INTERNATIONAL PLC | 0.18% | 3459.00 | +0.87% | +2.17% | +5.75% | +31.10% | 71 |
| SYENS.BR SYENSQO NV | 0.17% | 81.35 | +2.07% | +1.81% | +7.11% | +21.95% | 73 |
| JMAT.LSE JOHNSON MATTHEY PLC | 0.16% | 2276.00 | +2.25% | +0.09% | +1.94% | -1.91% | 49 |
| AKE.PA ARKEMA SA | 0.15% | 59.60 | +2.23% | +0.68% | -2.45% | +21.31% | 18 |
| MNDI.LSE MONDI PLC | 0.14% | 870.20 | -0.93% | +1.42% | -0.62% | -3.71% | 27 |
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
MXI dispersion — data Q&A
Is MXI's move broad or carried by a few names (21 sessions)?
As of 2026-08-28: over 21 sessions the fund returned +7.50% while its median constituent returned +1.94% — a dispersion of 8.17 pp; 24% of 51 members beat the fund. Broad advance - breadth is rising with price.
How did MXI's members trade in the last session?
As of 2026-08-28: fund -0.92%, median member +0.36%, 33 advancers vs 17 decliners.
What does the dispersion page for MXI 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. 52 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.