Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | +0.68% | -0.04 | +2pp | +1.30pp | Weakening |
| 1 month | +7.56% | +1.96 | -15pp | -6.21pp | Confirming ↑ |
| 1 quarter | +6.02% | +1.22 | +21pp | +9.83pp | Confirming ↑ |
Over the last 126 sessions: price up +23.59%, breadth up (+4.88/name) · % beating 54→50 · median−ETF +0.91pp→+0.03pp.
Stocks above their moving average — participation breadth
Of the 49 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 2026-08-28.
New highs & new lows — by horizon
How many of the 49 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 | 11 (22%) | 10 (20%) | +1 |
| 1-Month | 7 (14%) | 3 (6%) | +4 |
| 3-Month | 6 (12%) | 0 (0%) | +6 |
| 6-Month | 6 (13%) | 0 (0%) | +6 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 4 (8%) | 0 (0%) | +4 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.60% | +0.19% | +0.80pp | 25 / 23 | 28 / 21 | 10 of 49 | ±2.58% |
| 5d | +0.68% | +0.51% | -0.17pp | 29 / 20 | 23 / 26 | 10 of 49 | ±4.11% |
| 21d | +7.57% | +7.56% | +0.00pp | 36 / 13 | 24 / 25 | 4 of 49 | ±11.98% |
| YTD | +16.49% | +8.90% | -7.60pp | 31 / 16 | 19 / 28 | 1 of 47 | ±55.98% |
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)
- WDAY+5.76%+0.11pp
- ABNB+2.73%+0.05pp
- DASH+2.09%+0.04pp
- NFLX+2.35%+0.04pp
- APP+1.64%+0.03pp
- ARM-6.33%-0.32pp
- LRCX-5.24%-0.13pp
- CRWD-4.19%-0.12pp
- FTNT-3.92%-0.12pp
- MPWR-4.18%-0.11pp
This month (21d)
- PLTR+52.37%+0.83pp
- WDAY+29.48%+0.54pp
- CRWD+17.91%+0.53pp
- ABNB+24.56%+0.43pp
- PANW+14.10%+0.41pp
- APP-21.32%-0.45pp
- DDOG-11.76%-0.39pp
- ROST-9.51%-0.18pp
- MPWR-4.55%-0.12pp
- AVGO-4.91%-0.11pp
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)
- PLTR+52.37%
- WDAY+29.48%
- ABNB+24.56%
- ZS+24.15%
- DXCM+21.84%
- APP-21.32%
- DDOG-11.76%
- ROST-9.51%
- AVGO-4.91%
- MPWR-4.55%
QQEW — constituent leadership race
$100 in each covered QQEW 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 239.05 | -6.33% | -1.75% | -1.03% | +118.69% | 22 |
| MU Micron Technology | 3.98% | 932.86 | -0.27% | -3.51% | +6.65% | +226.99% | 45 |
| STX Seagate Technology Holdings | 3.80% | 829.76 | -2.06% | -2.38% | -2.57% | +201.83% | 16 |
| DDOG Datadog Inc Cl A | 3.29% | 236.98 | -2.45% | +0.58% | -11.76% | +74.26% | 2 |
| FTNT Fortinet Inc | 3.10% | 166.00 | -3.92% | +8.14% | +7.62% | +109.04% | 51 |
| CRWD Crowdstrike Holdings | 2.97% | 218.40 | -4.19% | +13.78% | +17.91% | +86.36% | 84 |
| PANW Palo Alto Networks | 2.89% | 371.59 | -2.94% | +3.83% | +14.10% | +101.73% | 76 |
| MPWR Monolithic Power Sys | 2.61% | 1256.26 | -4.18% | -4.56% | -4.55% | +38.88% | 8 |
| LRCX Lam Research Corp | 2.49% | 301.90 | -5.24% | -3.85% | +1.40% | +76.70% | 27 |
| CDNS Cadence Design Sys | 2.45% | 340.39 | -2.06% | +6.70% | +2.27% | +8.90% | 29 |
| KLAC K L A-Tencor Corp | 2.40% | 175.54 | -4.48% | -4.59% | -2.55% | — | 18 |
| AVGO Broadcom Ltd | 2.28% | 368.79 | -0.74% | +0.09% | -4.91% | +6.78% | 6 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1696.16 | -2.24% | -3.83% | +2.71% | +59.10% | 33 |
| NVDA Nvidia Corp | 2.14% | 217.55 | -4.57% | +1.32% | +11.54% | +16.79% | 63 |
| APP Applovin Corp Cl A | 2.13% | 317.76 | +1.64% | +3.92% | -21.32% | -52.84% | 0 |
| AAPL Apple Inc | 2.12% | 319.70 | +1.63% | +3.35% | -4.12% | +17.71% | 12 |
| MNST Monster Beverage Corp | 2.03% | 46.86 | +0.34% | -1.95% | -4.02% | +22.24% | 14 |
| SNPS Synopsys Inc | 1.99% | 442.61 | -4.79% | +11.24% | +18.88% | -5.77% | 86 |
| MSFT Microsoft Corp | 1.89% | 513.53 | +1.68% | +6.27% | +13.84% | +6.43% | 73 |
| ADP Automatic Data Processing | 1.87% | 287.48 | +0.98% | +2.38% | +8.95% | +12.68% | 53 |
| ROST Ross Stores Inc | 1.86% | 228.55 | -0.57% | -4.39% | -9.51% | +27.14% | 4 |
| WDAY Workday Inc | 1.84% | 204.72 | +5.76% | +2.35% | +29.48% | -4.68% | 96 |
| DXCM Dexcom Inc | 1.83% | 90.82 | +1.71% | -1.65% | +21.84% | +36.84% | 90 |
| PAYX Paychex Inc | 1.81% | 127.04 | +0.44% | +2.06% | +9.21% | +14.42% | 55 |
| META META Platforms Inc | 1.78% | 578.02 | +1.21% | +5.11% | +7.23% | -12.36% | 47 |
| ADBE Adobe Systems Inc | 1.76% | 291.52 | +0.82% | +5.89% | +17.60% | -16.71% | 82 |
| ABNB Airbnb Inc Cl A | 1.76% | 189.43 | +2.73% | +1.14% | +24.56% | +39.57% | 94 |
| AXON Axon Enterprise | 1.75% | 600.73 | -1.71% | -4.30% | +14.36% | +5.78% | 78 |
| DASH Doordash Inc Cl A | 1.72% | 236.74 | +2.09% | +5.93% | +19.85% | +4.53% | 88 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 31 |
| MELI Mercadolibre Inc | 1.69% | 1966.25 | +1.84% | +2.26% | +4.27% | -2.38% | 39 |
| AMGN Amgen Inc | 1.68% | 432.42 | -1.05% | -1.57% | +11.55% | +33.03% | 65 |
| IDXX Idexx Laboratories | 1.65% | 554.99 | +1.82% | -0.35% | -0.68% | -17.97% | 24 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 237.10 | +0.23% | +0.37% | +15.39% | -40.37% | 80 |
| VRTX Vertex Pharmaceutic | 1.64% | 541.69 | -1.07% | -1.16% | +12.45% | +19.48% | 69 |
| BKNG Booking Holdings | 1.63% | 205.63 | +1.52% | -1.90% | +6.41% | — | 43 |
| PLTR Palantir Technologies Cl A | 1.59% | 186.29 | +0.19% | +3.53% | +52.37% | +4.80% | 98 |
| GILD Gilead Sciences Inc | 1.59% | 145.68 | -2.14% | -0.30% | +10.97% | +19.36% | 61 |
| ADSK Autodesk Inc | 1.59% | 260.66 | -3.67% | +2.69% | +10.93% | -11.94% | 59 |
| ROP Roper Industries | 1.58% | 426.20 | +0.83% | +3.50% | +9.49% | -3.81% | 57 |
| PDD Pdd Holdings Inc | 1.51% | 85.69 | +1.18% | -3.04% | -2.00% | -24.43% | 20 |
| VRSK Verisk Analytics Inc | 1.51% | 191.77 | +0.39% | +2.28% | -4.28% | -14.05% | 10 |
| ZS Zscaler Inc | 1.51% | 184.23 | -1.64% | +1.37% | +24.15% | -18.09% | 92 |
| NFLX Netflix Inc | 1.50% | 81.72 | +2.35% | +2.68% | +11.69% | -12.84% | 67 |
| ISRG Intuitive Surg Inc | 1.48% | 372.60 | +1.51% | -1.64% | +5.56% | -34.21% | 41 |
| REGN Regeneron Pharmaceuticals | 1.45% | 794.19 | -1.67% | -4.78% | +7.56% | +3.02% | 49 |
| INTU Intuit Inc | 1.12% | 358.06 | +2.89% | -2.44% | +13.49% | -45.68% | 71 |
| GOOGL Alphabet Cl A | 1.04% | 346.59 | +1.74% | +0.51% | +3.88% | +10.81% | 37 |
| GOOG Alphabet Cl C | 1.04% | 342.88 | +1.53% | +0.33% | +2.76% | +9.34% | 35 |
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
QQEW dispersion — data Q&A
Is QQEW's move broad or carried by a few names (21 sessions)?
As of 2026-08-28: over 21 sessions the fund returned +7.57% while its median constituent returned +7.56% — a dispersion of 11.98 pp; 49% of 49 members beat the fund. Broad advance - breadth is rising with price.
How did QQEW's members trade in the last session?
As of 2026-08-28: fund -0.60%, median member +0.19%, 25 advancers vs 23 decliners.
What does the dispersion page for QQEW 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. 49 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.