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 | +2.65% | +0.24 | -8pp | -2.06pp | Confirming ↑ |
| 1 month | +8.53% | +0.31 | -6pp | -1.98pp | Confirming ↑ |
| 1 quarter | +19.23% | +3.06 | -17pp | -7.25pp | Confirming ↑ |
Over the last 126 sessions: price up +11.40%, breadth up (+2.55/name) · % beating 48→27 · median−ETF -0.23pp→-8.12pp.
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 2026-06-18.
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 | 10 (20%) | 14 (29%) | -4 |
| 1-Month | 7 (14%) | 6 (12%) | +1 |
| 3-Month | 5 (10%) | 4 (8%) | +1 |
| 6-Month | 5 (10%) | 4 (8%) | +1 |
| 52-Week | 5 (11%) | 4 (9%) | +1 |
| YTD | 5 (10%) | 4 (8%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +1.45% | +0.33% | -1.12pp | 31 / 18 | 14 / 35 | 10 of 49 | ±2.66% |
| 5d | +2.65% | -0.74% | -3.39pp | 20 / 29 | 13 / 36 | 4 of 49 | ±7.08% |
| 21d | +8.53% | +1.11% | -7.42pp | 27 / 21 | 13 / 35 | 4 of 48 | ±21.99% |
| YTD | +10.35% | -0.97% | -11.32pp | 22 / 25 | 17 / 30 | 1 of 47 | ±82.12% |
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)
- MU+8.70%+0.35pp
- ARM+4.91%+0.25pp
- KLAC+8.73%+0.21pp
- MPWR+7.97%+0.21pp
- AVGO+4.70%+0.11pp
- WDAY-4.02%-0.07pp
- DDOG-1.60%-0.05pp
- APP-2.04%-0.04pp
- ALNY-1.64%-0.03pp
- SNPS-1.35%-0.03pp
This month (21d)
- ARM+96.93%+4.87pp
- MU+62.29%+2.48pp
- STX+45.94%+1.75pp
- LRCX+42.31%+1.05pp
- ASML+32.22%+0.72pp
- ZS-28.76%-0.43pp
- ADBE-23.46%-0.41pp
- INTU-33.20%-0.37pp
- ADSK-20.62%-0.33pp
- PDD-18.27%-0.28pp
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)
- ARM+96.93%
- MU+62.29%
- STX+45.94%
- LRCX+42.31%
- ASML+32.22%
- INTU-33.20%
- ZS-28.76%
- ADBE-23.46%
- ADSK-20.62%
- PDD-18.27%
QQEW — constituent leadership race
$100 in each covered QQEW constituent at 2025-12-16, 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% | 439.46 | +4.91% | +28.41% | +96.93% | +302.03% | 98 |
| MU Micron Technology | 3.98% | 1133.99 | +8.70% | +13.87% | +62.29% | +297.49% | 96 |
| STX Seagate Technology Holdings | 3.80% | 1070.23 | +0.39% | +23.29% | +45.94% | +289.30% | 94 |
| DDOG Datadog Inc Cl A | 3.29% | 223.00 | -1.60% | -4.80% | +3.65% | +63.98% | 58 |
| FTNT Fortinet Inc | 3.10% | 144.73 | +0.41% | -0.23% | +13.39% | +82.26% | 83 |
| CRWD Crowdstrike Holdings | 2.97% | 684.86 | +0.28% | -0.96% | +11.02% | +46.10% | 77 |
| PANW Palo Alto Networks | 2.89% | 287.78 | +2.00% | +2.95% | +19.84% | +56.23% | 88 |
| MPWR Monolithic Power Sys | 2.61% | 1563.70 | +7.97% | -1.63% | +6.51% | +72.87% | 67 |
| LRCX Lam Research Corp | 2.49% | 389.04 | +3.97% | +7.39% | +42.31% | +127.54% | 92 |
| CDNS Cadence Design Sys | 2.45% | 387.39 | -0.57% | +0.95% | +14.57% | +23.93% | 85 |
| KLAC K L A-Tencor Corp | 2.40% | 259.56 | +8.73% | +7.63% | — | — | — |
| AVGO Broadcom Ltd | 2.28% | 411.35 | +4.70% | +6.69% | +0.07% | +19.10% | 44 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1929.68 | +3.31% | +1.59% | +32.22% | +81.00% | 90 |
| NVDA Nvidia Corp | 2.14% | 210.69 | +2.95% | +2.84% | -4.50% | +12.98% | 31 |
| APP Applovin Corp Cl A | 2.13% | 469.71 | -2.04% | -1.85% | -1.51% | -30.29% | 38 |
| AAPL Apple Inc | 2.12% | 298.01 | +0.70% | +0.81% | -0.32% | +9.72% | 42 |
| MNST Monster Beverage Corp | 2.03% | 91.34 | -0.35% | -0.75% | +5.78% | +19.13% | 65 |
| SNPS Synopsys Inc | 1.99% | 455.51 | -1.35% | -0.17% | -7.77% | -3.03% | 19 |
| MSFT Microsoft Corp | 1.89% | 379.40 | +0.13% | -2.80% | -8.91% | -21.37% | 15 |
| ADP Automatic Data Processing | 1.87% | 218.41 | -0.16% | -2.53% | -0.92% | -14.39% | 40 |
| ROST Ross Stores Inc | 1.86% | 232.80 | -0.19% | -2.64% | +9.46% | +29.51% | 75 |
| WDAY Workday Inc | 1.84% | 116.93 | -4.02% | -10.42% | -9.59% | -45.56% | 13 |
| DXCM Dexcom Inc | 1.83% | 72.47 | +1.74% | -3.69% | +8.24% | +9.19% | 71 |
| PAYX Paychex Inc | 1.81% | 98.24 | +0.68% | -1.04% | +3.98% | -11.52% | 60 |
| META META Platforms Inc | 1.78% | 577.22 | +1.70% | +1.64% | -4.21% | -12.48% | 33 |
| ADBE Adobe Systems Inc | 1.76% | 195.16 | -0.57% | -10.80% | -23.46% | -44.24% | 4 |
| ABNB Airbnb Inc Cl A | 1.76% | 142.41 | +1.33% | +8.82% | +8.58% | +4.93% | 73 |
| AXON Axon Enterprise | 1.75% | 423.40 | +0.09% | -5.11% | +7.92% | -25.45% | 69 |
| DASH Doordash Inc Cl A | 1.72% | 173.46 | +4.71% | +12.21% | +12.16% | -23.41% | 81 |
| EA Electronic Arts Inc | 1.71% | 202.15 | -0.43% | -0.44% | +0.32% | -0.97% | 46 |
| MELI Mercadolibre Inc | 1.69% | 1635.15 | +0.20% | +1.56% | +2.53% | -18.82% | 54 |
| AMGN Amgen Inc | 1.68% | 337.60 | -1.19% | -4.65% | +2.07% | +3.86% | 52 |
| IDXX Idexx Laboratories | 1.65% | 562.09 | +2.93% | +0.75% | +2.85% | -16.92% | 56 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 278.09 | -1.64% | -3.90% | -5.51% | -30.07% | 21 |
| VRTX Vertex Pharmaceutic | 1.64% | 451.63 | -1.60% | +1.48% | +3.99% | -0.38% | 63 |
| BKNG Booking Holdings | 1.63% | 171.78 | +0.09% | +5.01% | +11.16% | — | 79 |
| PLTR Palantir Technologies Cl A | 1.59% | 128.47 | -1.65% | -1.99% | -5.02% | -27.72% | 27 |
| GILD Gilead Sciences Inc | 1.59% | 123.76 | -1.35% | -1.03% | -5.16% | +1.40% | 23 |
| ADSK Autodesk Inc | 1.59% | 193.82 | +0.39% | -5.72% | -20.62% | -34.52% | 6 |
| ROP Roper Industries | 1.58% | 330.26 | +0.09% | -0.74% | +0.41% | -25.47% | 48 |
| PDD Pdd Holdings Inc | 1.51% | 79.56 | -0.38% | -2.14% | -18.27% | -29.84% | 8 |
| VRSK Verisk Analytics Inc | 1.51% | 173.80 | -0.88% | -4.25% | +1.81% | -22.11% | 50 |
| ZS Zscaler Inc | 1.51% | 124.85 | +0.38% | -1.00% | -28.76% | -44.49% | 2 |
| NFLX Netflix Inc | 1.50% | 77.38 | +0.55% | -4.79% | -13.38% | -17.47% | 10 |
| ISRG Intuitive Surg Inc | 1.48% | 406.78 | +1.14% | -1.48% | -7.88% | -28.18% | 17 |
| REGN Regeneron Pharmaceuticals | 1.45% | 609.94 | +0.33% | -0.25% | -3.09% | -20.88% | 35 |
| INTU Intuit Inc | 1.12% | 267.00 | -0.77% | -3.58% | -33.20% | -59.49% | 0 |
| GOOGL Alphabet Cl A | 1.04% | 368.03 | +1.17% | +2.87% | -5.06% | +17.66% | 25 |
| GOOG Alphabet Cl C | 1.04% | 367.46 | +1.48% | +3.06% | -4.53% | +17.18% | 29 |
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.