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 | -2.14% | +0.2 | +10pp | +2.59pp | Improving |
| 1 month | +3.03% | +0.96 | +0pp | -0.13pp | Confirming ↑ |
| 1 quarter | +2.93% | +0.67 | +3pp | +0.87pp | Confirming ↑ |
Over the last 126 sessions: price up +22.57%, breadth up (+3.39/name) · % beating 44→50 · median−ETF -0.55pp→-0.19pp.
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 2026-10-12.
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 | 18 (37%) | 13 (27%) | +5 |
| 1-Month | 2 (4%) | 1 (2%) | +1 |
| 3-Month | 2 (4%) | 0 (0%) | +2 |
| 6-Month | 1 (2%) | 0 (0%) | +1 |
| 52-Week | 1 (2%) | 0 (0%) | +1 |
| YTD | 1 (2%) | 0 (0%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.11% | -0.60% | +0.50pp | 19 / 29 | 27 / 22 | 16 of 49 | ±1.9% |
| 5d | -2.14% | +0.70% | +2.84pp | 30 / 19 | 38 / 11 | 2 of 49 | ±5.74% |
| 21d | +3.02% | +2.62% | -0.41pp | 31 / 18 | 24 / 25 | 9 of 49 | ±11.92% |
| YTD | +14.04% | +11.65% | -2.39pp | 31 / 17 | 20 / 28 | 1 of 48 | ±61.6% |
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)
- META+3.38%+0.06pp
- DXCM+2.15%+0.04pp
- REGN+2.18%+0.03pp
- ROST+1.54%+0.03pp
- AAPL+1.29%+0.03pp
- ARM-4.15%-0.21pp
- MU-3.88%-0.15pp
- STX-3.80%-0.14pp
- CRWD-4.37%-0.13pp
- MPWR-4.84%-0.13pp
This month (21d)
- DDOG+29.87%+0.98pp
- CRWD+27.22%+0.81pp
- FTNT+23.62%+0.73pp
- PANW+22.13%+0.64pp
- ZS+37.22%+0.56pp
- STX-9.27%-0.35pp
- APP-16.39%-0.35pp
- AXON-13.54%-0.24pp
- ARM-3.61%-0.18pp
- PAYX-9.64%-0.17pp
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)
- ZS+37.22%
- DDOG+29.87%
- CRWD+27.22%
- SNPS+26.46%
- PLTR+24.98%
- APP-16.39%
- AXON-13.54%
- PAYX-9.64%
- STX-9.27%
- BKNG-8.91%
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% | 255.24 | -4.15% | -15.73% | -3.61% | +133.50% | 24 |
| MU Micron Technology | 3.98% | 989.04 | -3.88% | -7.04% | +1.41% | +246.68% | 43 |
| STX Seagate Technology Holdings | 3.80% | 753.25 | -3.80% | -15.09% | -9.27% | +174.00% | 6 |
| DDOG Datadog Inc Cl A | 3.29% | 287.29 | -2.04% | +3.93% | +29.87% | +111.26% | 96 |
| FTNT Fortinet Inc | 3.10% | 192.94 | -0.93% | +4.78% | +23.62% | +142.97% | 88 |
| CRWD Crowdstrike Holdings | 2.97% | 263.01 | -4.37% | -3.54% | +27.22% | +124.43% | 94 |
| PANW Palo Alto Networks | 2.89% | 403.83 | -3.57% | -0.72% | +22.13% | +119.23% | 86 |
| MPWR Monolithic Power Sys | 2.61% | 1319.23 | -4.84% | -10.86% | +6.87% | +45.84% | 71 |
| LRCX Lam Research Corp | 2.49% | 309.56 | -2.91% | -10.48% | +3.80% | +81.18% | 57 |
| CDNS Cadence Design Sys | 2.45% | 348.42 | -1.25% | -1.43% | +20.41% | +11.47% | 84 |
| KLAC K L A-Tencor Corp | 2.40% | 190.12 | -2.79% | -8.09% | +5.25% | +57.05% | 67 |
| AVGO Broadcom Ltd | 2.28% | 354.73 | -1.88% | -2.15% | -1.83% | +2.71% | 31 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1750.24 | -1.69% | -5.89% | +3.06% | +64.17% | 51 |
| NVDA Nvidia Corp | 2.14% | 226.32 | -1.29% | -5.27% | +3.68% | +21.50% | 55 |
| APP Applovin Corp Cl A | 2.13% | 270.87 | -2.23% | -3.94% | -16.39% | -59.80% | 0 |
| AAPL Apple Inc | 2.12% | 340.97 | +1.29% | +2.43% | +2.62% | +25.54% | 49 |
| MNST Monster Beverage Corp | 2.03% | 43.76 | +0.27% | +0.57% | +0.83% | +14.15% | 37 |
| SNPS Synopsys Inc | 1.99% | 502.51 | -1.47% | +2.87% | +26.46% | +6.98% | 92 |
| MSFT Microsoft Corp | 1.89% | 541.15 | +1.14% | +3.04% | +9.18% | +12.15% | 73 |
| ADP Automatic Data Processing | 1.87% | 273.81 | +1.08% | +5.21% | +2.07% | +7.33% | 45 |
| ROST Ross Stores Inc | 1.86% | 225.84 | +1.54% | -0.23% | -2.12% | +25.64% | 29 |
| WDAY Workday Inc | 1.84% | 188.25 | +0.89% | -0.38% | +1.37% | -12.35% | 41 |
| DXCM Dexcom Inc | 1.83% | 85.92 | +2.15% | -1.13% | +3.48% | +29.46% | 53 |
| PAYX Paychex Inc | 1.81% | 104.64 | +0.63% | +4.87% | -9.64% | -5.75% | 4 |
| META META Platforms Inc | 1.78% | 742.96 | +3.38% | +0.14% | +14.74% | +12.65% | 80 |
| ADBE Adobe Systems Inc | 1.76% | 238.14 | -1.70% | -0.27% | -5.59% | -31.96% | 14 |
| ABNB Airbnb Inc Cl A | 1.76% | 163.50 | -1.43% | -0.35% | -3.93% | +20.47% | 20 |
| AXON Axon Enterprise | 1.75% | 414.43 | -2.00% | +0.64% | -13.54% | -27.03% | 2 |
| DASH Doordash Inc Cl A | 1.72% | 194.24 | -1.15% | +1.29% | -3.82% | -14.24% | 22 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 47 |
| MELI Mercadolibre Inc | 1.69% | 1892.44 | +0.14% | +1.71% | -0.26% | -6.05% | 35 |
| AMGN Amgen Inc | 1.68% | 417.57 | +0.65% | +3.62% | +10.66% | +28.46% | 78 |
| IDXX Idexx Laboratories | 1.65% | 523.94 | +1.15% | -0.59% | +3.81% | -22.55% | 59 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 227.02 | -2.43% | +3.24% | -8.71% | -42.91% | 12 |
| VRTX Vertex Pharmaceutic | 1.64% | 507.00 | -0.60% | +0.70% | -1.64% | +11.83% | 33 |
| BKNG Booking Holdings | 1.63% | 158.43 | -1.19% | +0.06% | -8.91% | — | 8 |
| PLTR Palantir Technologies Cl A | 1.59% | 209.00 | -0.02% | +10.35% | +24.98% | +17.58% | 90 |
| GILD Gilead Sciences Inc | 1.59% | 150.43 | -0.49% | +4.01% | +5.26% | +23.26% | 69 |
| ADSK Autodesk Inc | 1.59% | 233.54 | -0.77% | +5.41% | +9.95% | -21.10% | 76 |
| ROP Roper Industries | 1.58% | 367.32 | +0.89% | +1.08% | -5.46% | -17.10% | 16 |
| PDD Pdd Holdings Inc | 1.51% | 80.92 | -0.53% | +3.88% | +4.00% | -28.64% | 61 |
| VRSK Verisk Analytics Inc | 1.51% | 177.49 | -0.08% | +8.70% | +1.00% | -20.45% | 39 |
| ZS Zscaler Inc | 1.51% | 225.78 | -3.40% | +11.88% | +37.22% | +0.38% | 98 |
| NFLX Netflix Inc | 1.50% | 70.61 | +0.44% | +4.61% | -8.77% | -24.69% | 10 |
| ISRG Intuitive Surg Inc | 1.48% | 427.64 | +0.87% | +5.21% | +15.84% | -24.49% | 82 |
| REGN Regeneron Pharmaceuticals | 1.45% | 762.81 | +2.18% | +5.00% | -2.39% | -1.05% | 27 |
| INTU Intuit Inc | 1.12% | 305.99 | +1.07% | +7.99% | -4.84% | -53.58% | 18 |
| GOOGL Alphabet Cl A | 1.04% | 352.72 | +0.30% | +1.80% | +4.20% | +12.77% | 65 |
| GOOG Alphabet Cl C | 1.04% | 348.97 | +0.32% | +1.49% | +4.03% | +11.29% | 63 |
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 2026-10-13: over 21 sessions the fund returned +3.02% while its median constituent returned +2.62% — a dispersion of 11.92 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 2026-10-13: fund -1.11%, median member -0.60%, 19 advancers vs 29 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 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.