Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 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 | -3.74% | -0.87 | -14pp | -3.45pp | Confirming ↓ |
| 1 month | +5.72% | +1.22 | -14pp | -2.66pp | Confirming ↑ |
| 1 quarter | +3.19% | -0.36 | -9pp | -1.91pp | Weakening |
Over the last 126 sessions: price up +38.11%, breadth up (+4.02/name) · % beating 49→42 · median−ETF -4.16pp→-1.69pp.
Stocks above their moving average — participation breadth
Of the 45 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 45 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 (22%) | 22 (49%) | -12 |
| 1-Month | 2 (4%) | 4 (9%) | -2 |
| 3-Month | 2 (4%) | 1 (2%) | +1 |
| 6-Month | 2 (4%) | 0 (0%) | +2 |
| 52-Week | 2 (4%) | 0 (0%) | +2 |
| YTD | 2 (4%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.62% | -1.29% | +0.33pp | 12 / 33 | 24 / 21 | 18 of 45 | ±2.14% |
| 5d | -3.74% | -1.97% | +1.77pp | 18 / 27 | 27 / 18 | 5 of 45 | ±7.01% |
| 21d | +5.72% | +4.03% | -1.69pp | 30 / 15 | 19 / 26 | 2 of 45 | ±12.94% |
| YTD | +41.69% | +16.55% | -25.14pp | 35 / 10 | 19 / 26 | 0 of 45 | ±102.81% |
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)
- SHOP+4.90%+0.07pp
- META+3.38%+0.05pp
- AAPL+1.29%+0.02pp
- MSFT+1.14%+0.02pp
- WDAY+0.89%+0.01pp
- ARM-4.15%-0.19pp
- MRVL-3.42%-0.19pp
- SNDK-5.97%-0.16pp
- MU-3.88%-0.14pp
- STX-3.80%-0.13pp
This month (21d)
- DDOG+29.87%+0.88pp
- CRWD+27.22%+0.73pp
- MRVL+12.60%+0.69pp
- FTNT+23.62%+0.66pp
- AMD+15.13%+0.6pp
- WDC-13.47%-0.4pp
- STX-9.27%-0.32pp
- APP-16.39%-0.31pp
- SNDK-8.94%-0.24pp
- ARM-3.61%-0.16pp
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)
- SHOP+39.16%
- ZS+37.22%
- DDOG+29.87%
- CRWD+27.22%
- SNPS+26.46%
- APP-16.39%
- WDC-13.47%
- STX-9.27%
- SNDK-8.94%
- ADBE-5.59%
QTEC — constituent leadership race
$100 in each covered QTEC 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 — 45 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MRVL Marvell Technology Inc | 5.46% | 265.86 | -3.42% | -1.97% | +12.60% | +213.23% | 71 |
| ARM Arm Holdings Plc ADR | 4.51% | 255.24 | -4.15% | -15.73% | -3.61% | +133.50% | 22 |
| AMD Adv Micro Devices | 3.94% | 594.24 | -2.28% | -5.94% | +15.13% | +177.47% | 76 |
| INTC Intel Corp | 3.87% | 101.35 | -3.20% | -12.77% | -1.54% | +174.66% | 27 |
| MU Micron Technology | 3.57% | 989.04 | -3.88% | -7.04% | +1.41% | +246.68% | 36 |
| STX Seagate Technology Holdings | 3.42% | 753.25 | -3.80% | -15.09% | -9.27% | +174.00% | 4 |
| WDC Western Digital Corp | 2.98% | 386.94 | -2.60% | -12.39% | -13.47% | +124.72% | 2 |
| DDOG Datadog Inc Cl A | 2.95% | 287.29 | -2.04% | +3.93% | +29.87% | +111.26% | 93 |
| QCOM Qualcomm Inc | 2.83% | 174.43 | -0.61% | -3.52% | -4.14% | +2.63% | 18 |
| FTNT Fortinet Inc | 2.79% | 192.94 | -0.93% | +4.78% | +23.62% | +142.97% | 84 |
| CRWD Crowdstrike Holdings | 2.67% | 263.01 | -4.37% | -3.54% | +27.22% | +124.43% | 91 |
| SNDK Sandisk Corp | 2.63% | 1487.33 | -5.97% | -12.72% | -8.94% | +526.56% | 7 |
| PANW Palo Alto Networks | 2.60% | 403.83 | -3.57% | -0.72% | +22.13% | +119.23% | 82 |
| NXPI Nxp Semiconductors | 2.55% | 225.21 | -1.02% | -6.93% | -4.39% | +4.29% | 16 |
| TXN Texas Instruments | 2.47% | 281.74 | -0.70% | -4.46% | +4.85% | +63.46% | 53 |
| MPWR Monolithic Power Sys | 2.35% | 1319.23 | -4.84% | -10.86% | +6.87% | +45.84% | 58 |
| MCHP Microchip Technology | 2.32% | 73.83 | -2.28% | -9.40% | -0.50% | +16.55% | 31 |
| LRCX Lam Research Corp | 2.23% | 309.56 | -2.91% | -10.48% | +3.80% | +81.18% | 44 |
| CDNS Cadence Design Sys | 2.20% | 348.42 | -1.25% | -1.43% | +20.41% | +11.47% | 80 |
| KLAC K L A-Tencor Corp | 2.16% | 190.12 | -2.79% | -8.09% | +5.25% | +57.05% | 56 |
| AMAT Applied Materials | 2.13% | 497.53 | -1.87% | -8.25% | +8.99% | +93.84% | 64 |
| ADI Analog Devices | 2.10% | 406.25 | +0.01% | -3.07% | +7.25% | +50.26% | 62 |
| AVGO Broadcom Ltd | 2.05% | 354.73 | -1.88% | -2.15% | -1.83% | +2.71% | 24 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1750.24 | -1.69% | -5.89% | +3.06% | +64.17% | 40 |
| NVDA Nvidia Corp | 1.92% | 226.32 | -1.29% | -5.27% | +3.68% | +21.50% | 42 |
| APP Applovin Corp Cl A | 1.92% | 270.87 | -2.23% | -3.94% | -16.39% | -59.80% | 0 |
| AAPL Apple Inc | 1.90% | 340.97 | +1.29% | +2.43% | +2.62% | +25.54% | 38 |
| SNPS Synopsys Inc | 1.78% | 502.51 | -1.47% | +2.87% | +26.46% | +6.98% | 89 |
| MSFT Microsoft Corp | 1.70% | 541.15 | +1.14% | +3.04% | +9.18% | +12.15% | 67 |
| WDAY Workday Inc | 1.65% | 188.25 | +0.89% | -0.38% | +1.37% | -12.35% | 33 |
| META META Platforms Inc | 1.60% | 742.96 | +3.38% | +0.14% | +14.74% | +12.65% | 73 |
| ADBE Adobe Systems Inc | 1.58% | 238.14 | -1.70% | -0.27% | -5.59% | -31.96% | 9 |
| DASH Doordash Inc Cl A | 1.55% | 194.24 | -1.15% | +1.29% | -3.82% | -14.24% | 20 |
| SHOP Shopify Inc | 1.51% | 179.22 | +4.90% | +11.94% | +39.16% | +11.34% | 98 |
| MSTR Strategy Inc | 1.45% | 152.68 | -1.08% | -7.15% | +16.58% | +0.48% | 78 |
| ADSK Autodesk Inc | 1.43% | 233.54 | -0.77% | +5.41% | +9.95% | -21.10% | 69 |
| PLTR Palantir Technologies Cl A | 1.43% | 209.00 | -0.02% | +10.35% | +24.98% | +17.58% | 87 |
| ROP Roper Industries | 1.42% | 367.32 | +0.89% | +1.08% | -5.46% | -17.10% | 11 |
| TRI Thomson Reuters Corp | 1.37% | 104.25 | +1.01% | +7.39% | +7.09% | -19.19% | 60 |
| PDD Pdd Holdings Inc | 1.35% | 80.92 | -0.53% | +3.88% | +4.00% | -28.64% | 47 |
| ZS Zscaler Inc | 1.35% | 225.78 | -3.40% | +11.88% | +37.22% | +0.38% | 96 |
| CTSH Cognizant Tech Sol | 1.31% | 59.68 | +0.81% | +2.60% | -0.53% | -27.73% | 29 |
| INTU Intuit Inc | 1.01% | 305.99 | +1.07% | +7.99% | -4.84% | -53.58% | 13 |
| GOOGL Alphabet Cl A | 0.94% | 352.72 | +0.30% | +1.80% | +4.20% | +12.77% | 51 |
| GOOG Alphabet Cl C | 0.94% | 348.97 | +0.32% | +1.49% | +4.03% | +11.29% | 49 |
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
QTEC dispersion — data Q&A
Is QTEC's move broad or carried by a few names (21 sessions)?
As of 2026-10-13: over 21 sessions the fund returned +5.72% while its median constituent returned +4.03% — a dispersion of 12.94 pp; 42% of 45 members beat the fund. Broad advance - breadth is rising with price.
How did QTEC's members trade in the last session?
As of 2026-10-13: fund -1.62%, median member -1.29%, 12 advancers vs 33 decliners.
What does the dispersion page for QTEC 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. 45 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.