Constituent dispersion · breadth vs the index
QQXT — First Trust Nasdaq-100 Ex-Technology
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 | +1.48% | +1.14 | +7pp | +1.29pp | Confirming ↑ |
| 1 month | -0.55% | -0.18 | -1pp | +0.25pp | Weakening |
| 1 quarter | -0.37% | -1.25 | -2pp | -0.03pp | Weakening |
Over the last 126 sessions: price down -1.27%, breadth down (-0.98/name) · % beating 47→52 · median−ETF -1.46pp→+0.78pp.
Stocks above their moving average — participation breadth
Of the 56 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 56 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 | 27 (48%) | 5 (9%) | +22 |
| 1-Month | 13 (23%) | 3 (5%) | +10 |
| 3-Month | 2 (4%) | 2 (4%) | +0 |
| 6-Month | 1 (2%) | 2 (4%) | -1 |
| 52-Week | 1 (2%) | 2 (4%) | -1 |
| YTD | 1 (2%) | 2 (4%) | -1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.09% | +0.55% | +0.64pp | 36 / 18 | 40 / 16 | 24 of 56 | ±1.94% |
| 5d | +1.48% | +1.97% | +0.49pp | 40 / 16 | 30 / 26 | 10 of 56 | ±3.74% |
| 21d | -0.55% | +0.78% | +1.33pp | 29 / 27 | 30 / 26 | 3 of 56 | ±8.49% |
| YTD | -1.12% | +2.73% | +3.84pp | 30 / 25 | 32 / 23 | 2 of 55 | ±31.53% |
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)
- KDP+3.12%+0.06pp
- GEHC+3.04%+0.05pp
- MDLZ+2.28%+0.04pp
- DXCM+2.15%+0.04pp
- TMUS+2.21%+0.03pp
- LITE-9.78%-0.13pp
- CSCO-2.58%-0.08pp
- CPRT-3.07%-0.05pp
- ALNY-2.43%-0.04pp
- TTWO-2.16%-0.04pp
This month (21d)
- ISRG+15.84%+0.24pp
- MAR+10.34%+0.22pp
- AMGN+10.66%+0.19pp
- WBD+9.56%+0.16pp
- COST+6.04%+0.11pp
- INSM-23.84%-0.32pp
- CHTR-29.70%-0.31pp
- CMCSA-17.94%-0.25pp
- TMUS-16.71%-0.25pp
- AXON-13.54%-0.25pp
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)
- ISRG+15.84%
- AMGN+10.66%
- MAR+10.34%
- WBD+9.56%
- LITE+7.38%
- CHTR-29.70%
- INSM-23.84%
- CMCSA-17.94%
- TMUS-16.71%
- AXON-13.54%
QQXT — constituent leadership race
$100 in each covered QQXT 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 — 56 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CSCO Cisco Systems Inc | 2.93% | 115.34 | -2.58% | +2.23% | +2.86% | +51.35% | 66 |
| ODFL Old Dominion Freight Line | 2.34% | 181.91 | -0.03% | +1.42% | +1.18% | +16.18% | 57 |
| AMZN Amazon.com Inc | 2.16% | 259.53 | -1.11% | +3.23% | +1.07% | +12.44% | 55 |
| CSX CSX Corp | 2.12% | 47.75 | +1.04% | +0.67% | -2.45% | +32.16% | 34 |
| MAR Marriot Int Cl A | 2.11% | 369.30 | +0.93% | +3.77% | +10.34% | +19.27% | 95 |
| MNST Monster Beverage Corp | 2.10% | 43.76 | +0.27% | +0.57% | +0.83% | +14.15% | 50 |
| TSLA Tesla Inc | 1.99% | 378.03 | -1.22% | -0.18% | +3.45% | -15.94% | 70 |
| KDP Keurig Dr Pepper Inc | 1.98% | 32.75 | +3.12% | +6.02% | +4.33% | +18.93% | 77 |
| ADP Automatic Data Processing | 1.94% | 273.81 | +1.08% | +5.21% | +2.07% | +7.33% | 61 |
| ROST Ross Stores Inc | 1.93% | 225.84 | +1.54% | -0.23% | -2.12% | +25.64% | 39 |
| BKR Baker Hughes Company | 1.92% | 56.18 | -0.92% | -2.09% | -4.88% | +24.24% | 27 |
| DXCM Dexcom Inc | 1.90% | 85.92 | +2.15% | -1.13% | +3.48% | +29.46% | 71 |
| MDLZ Mondelez Intl Inc | 1.90% | 61.79 | +2.28% | +5.64% | -1.04% | +15.78% | 43 |
| TTWO Take-Two Interactive | 1.89% | 208.82 | -2.16% | +2.63% | -3.09% | -18.44% | 32 |
| FER Ferrovial N.V. | 1.89% | 50.34 | +0.38% | -2.89% | -10.35% | -22.09% | 13 |
| FAST Fastenal Company | 1.89% | 51.49 | +1.46% | +1.58% | +4.40% | +29.71% | 80 |
| PAYX Paychex Inc | 1.88% | 104.64 | +0.63% | +4.87% | -9.64% | -5.75% | 14 |
| PCAR Paccar Inc | 1.86% | 108.13 | +0.08% | -1.12% | -11.90% | -0.70% | 9 |
| FANG Diamondback Energy | 1.84% | 195.11 | +1.55% | +5.99% | -4.81% | +30.56% | 29 |
| ABNB Airbnb Inc Cl A | 1.82% | 163.50 | -1.43% | -0.35% | -3.93% | +20.47% | 30 |
| LIN Linde Plc | 1.82% | 487.35 | +0.75% | +1.03% | +4.53% | +14.68% | 82 |
| KHC Kraft Heinz Company | 1.82% | 22.45 | +0.81% | +2.79% | -8.74% | -5.87% | 20 |
| AXON Axon Enterprise | 1.81% | 414.43 | -2.00% | +0.64% | -13.54% | -27.03% | 7 |
| AEP American Electric Power | 1.78% | 124.23 | +1.16% | +3.76% | +0.73% | +8.59% | 48 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 64 |
| SBUX Starbucks Corp | 1.78% | 92.29 | +1.69% | -2.27% | -6.54% | +10.30% | 25 |
| ORLY O'Reilly Automotive | 1.77% | 86.65 | +0.23% | +3.28% | +0.97% | -5.00% | 52 |
| XEL XCEL Energy Inc | 1.77% | 74.17 | +0.53% | +3.75% | -0.97% | +1.16% | 45 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 105.08 | +0.80% | +3.56% | +2.25% | +15.85% | 63 |
| CTAS Cintas Corp | 1.76% | 205.23 | +1.39% | +5.03% | +1.85% | +9.38% | 59 |
| COST Costco Wholesale | 1.75% | 959.44 | +1.32% | +3.89% | +6.04% | +11.57% | 89 |
| MELI Mercadolibre Inc | 1.75% | 1892.44 | +0.14% | +1.71% | -0.26% | -6.05% | 46 |
| AMGN Amgen Inc | 1.74% | 417.57 | +0.65% | +3.62% | +10.66% | +28.46% | 96 |
| WMT Walmart Inc | 1.73% | 113.08 | +1.55% | +7.62% | +5.53% | +1.71% | 86 |
| HON Honeywell International | 1.72% | 209.64 | +0.92% | -2.10% | +3.60% | +3.85% | 73 |
| WBD Discovery Inc Series A | 1.72% | 30.95 | +0.00% | +0.32% | +9.56% | +7.39% | 93 |
| IDXX Idexx Laboratories | 1.71% | 523.94 | +1.15% | -0.59% | +3.81% | -22.55% | 75 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 227.02 | -2.43% | +3.24% | -8.71% | -42.91% | 21 |
| BKNG Booking Holdings | 1.70% | 158.43 | -1.19% | +0.06% | -8.91% | — | 16 |
| PYPL Paypal Holdings | 1.70% | 56.05 | +0.94% | +3.01% | +4.34% | -3.70% | 79 |
| VRTX Vertex Pharmaceutic | 1.70% | 507.00 | -0.60% | +0.70% | -1.64% | +11.83% | 41 |
| EXC Exelon Corp | 1.68% | 42.12 | +0.86% | +3.18% | -2.41% | -2.54% | 36 |
| PEP Pepsico Inc | 1.66% | 126.68 | +0.56% | +0.82% | -7.07% | -10.94% | 23 |
| GILD Gilead Sciences Inc | 1.65% | 150.43 | -0.49% | +4.01% | +5.26% | +23.26% | 84 |
| CEG Constellation Energy Corp | 1.64% | 293.89 | -1.40% | +9.82% | +3.21% | -16.70% | 68 |
| CPRT Copart Inc | 1.64% | 26.48 | -3.07% | -4.23% | -11.59% | -32.36% | 11 |
| GEHC GE Healthcare Technologies | 1.60% | 67.74 | +3.04% | +3.04% | +5.96% | -17.34% | 88 |
| VRSK Verisk Analytics Inc | 1.56% | 177.49 | -0.08% | +8.70% | +1.00% | -20.45% | 54 |
| NFLX Netflix Inc | 1.55% | 70.61 | +0.44% | +4.61% | -8.77% | -24.69% | 18 |
| ISRG Intuitive Surg Inc | 1.53% | 427.64 | +0.87% | +5.21% | +15.84% | -24.49% | 98 |
| REGN Regeneron Pharmaceuticals | 1.50% | 762.81 | +2.18% | +5.00% | -2.39% | -1.05% | 38 |
| TMUS T-Mobile US | 1.49% | 151.87 | +2.21% | -7.76% | -16.71% | -24.84% | 5 |
| CMCSA Comcast Corp A | 1.41% | 20.68 | +0.10% | -2.64% | -17.94% | -24.44% | 4 |
| INSM Insmed Inc | 1.35% | 98.56 | -2.03% | -5.08% | -23.84% | -43.37% | 2 |
| LITE Lumentum Holdings | 1.30% | 995.41 | -9.78% | -8.82% | +7.38% | +170.06% | 91 |
| CHTR Charter Communications | 1.06% | 102.48 | -0.87% | -4.91% | -29.70% | -50.91% | 0 |
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
QQXT dispersion — data Q&A
Is QQXT's move broad or carried by a few names (21 sessions)?
As of 2026-10-13: over 21 sessions the fund returned -0.55% while its median constituent returned +0.78% — a dispersion of 8.49 pp; 54% of 56 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did QQXT's members trade in the last session?
As of 2026-10-13: fund -0.09%, median member +0.55%, 36 advancers vs 18 decliners.
What does the dispersion page for QQXT 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. 56 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.