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 | -1.42% | -0.11 | -9pp | -3.65pp | Confirming ↓ |
| 1 month | +8.35% | +2.2 | +4pp | -1.03pp | Confirming ↑ |
| 1 quarter | +6.20% | +0.44 | +4pp | -0.14pp | Confirming ↑ |
Over the last 126 sessions: price up +42.31%, breadth up (+4.87/name) · % beating 38→44 · median−ETF -4.70pp→-2.62pp.
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 2026-10-09.
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 | 14 (31%) | 14 (31%) | +0 |
| 1-Month | 9 (20%) | 1 (2%) | +8 |
| 3-Month | 7 (16%) | 0 (0%) | +7 |
| 6-Month | 6 (13%) | 0 (0%) | +6 |
| 52-Week | 3 (7%) | 0 (0%) | +3 |
| YTD | 6 (13%) | 0 (0%) | +6 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.71% | +0.39% | -0.32pp | 26 / 19 | 20 / 25 | 15 of 45 | ±2.41% |
| 5d | -1.42% | +0.88% | +2.31pp | 25 / 20 | 26 / 19 | 2 of 45 | ±6.65% |
| 21d | +8.35% | +5.73% | -2.62pp | 36 / 9 | 20 / 25 | 2 of 45 | ±12.95% |
| YTD | +44.02% | +17.61% | -26.41pp | 35 / 10 | 19 / 26 | 0 of 45 | ±109.2% |
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)
- DDOG+7.11%+0.21pp
- PANW+5.09%+0.13pp
- CRWD+4.57%+0.12pp
- ZS+7.80%+0.11pp
- FTNT+2.99%+0.08pp
- ARM-3.27%-0.15pp
- INTC-2.22%-0.09pp
- AMD-2.03%-0.08pp
- SNDK-1.72%-0.05pp
- NXPI-1.54%-0.04pp
This month (21d)
- MRVL+21.29%+1.16pp
- DDOG+32.27%+0.95pp
- CRWD+31.69%+0.85pp
- AMD+20.75%+0.82pp
- FTNT+22.60%+0.63pp
- WDC-13.81%-0.41pp
- STX-9.20%-0.31pp
- APP-11.91%-0.23pp
- SNDK-6.54%-0.17pp
- ROP-6.30%-0.09pp
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+42.97%
- SHOP+34.95%
- DDOG+32.27%
- CRWD+31.69%
- SNPS+28.41%
- WDC-13.81%
- APP-11.91%
- STX-9.20%
- SNDK-6.54%
- ROP-6.30%
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% | 275.28 | +0.25% | +1.12% | +21.29% | +224.33% | 78 |
| ARM Arm Holdings Plc ADR | 4.51% | 266.28 | -3.27% | -13.40% | +4.76% | +143.60% | 36 |
| AMD Adv Micro Devices | 3.94% | 608.10 | -2.03% | -4.07% | +20.75% | +183.95% | 76 |
| INTC Intel Corp | 3.87% | 104.70 | -2.22% | -12.26% | +4.37% | +183.74% | 31 |
| MU Micron Technology | 3.57% | 1029.00 | -0.66% | -4.27% | +5.28% | +260.69% | 40 |
| STX Seagate Technology Holdings | 3.42% | 783.00 | +1.05% | -7.77% | -9.20% | +184.82% | 4 |
| WDC Western Digital Corp | 2.98% | 397.28 | +1.01% | -4.34% | -13.81% | +130.73% | 0 |
| DDOG Datadog Inc Cl A | 2.95% | 293.26 | +7.11% | +5.79% | +32.27% | +115.65% | 93 |
| QCOM Qualcomm Inc | 2.83% | 175.50 | -0.29% | -5.07% | -0.78% | +3.26% | 18 |
| FTNT Fortinet Inc | 2.79% | 194.75 | +2.99% | +7.63% | +22.60% | +145.25% | 80 |
| CRWD Crowdstrike Holdings | 2.67% | 275.04 | +4.57% | +1.85% | +31.69% | +134.70% | 91 |
| SNDK Sandisk Corp | 2.63% | 1581.82 | -1.72% | -8.03% | -6.54% | +566.37% | 7 |
| PANW Palo Alto Networks | 2.60% | 418.78 | +5.09% | +3.85% | +23.72% | +127.35% | 82 |
| NXPI Nxp Semiconductors | 2.55% | 227.52 | -1.54% | -6.62% | +0.92% | +5.36% | 24 |
| TXN Texas Instruments | 2.47% | 283.74 | -1.55% | -3.42% | +9.63% | +64.62% | 58 |
| MPWR Monolithic Power Sys | 2.35% | 1386.29 | +1.20% | -3.71% | +16.88% | +53.26% | 71 |
| MCHP Microchip Technology | 2.32% | 75.55 | +0.04% | -7.10% | +5.55% | +19.26% | 47 |
| LRCX Lam Research Corp | 2.23% | 318.84 | -0.55% | -8.24% | +6.99% | +86.61% | 51 |
| CDNS Cadence Design Sys | 2.20% | 352.84 | +1.15% | +0.42% | +23.83% | +12.88% | 84 |
| KLAC K L A-Tencor Corp | 2.16% | 195.57 | -0.58% | -5.47% | +10.38% | +61.55% | 60 |
| AMAT Applied Materials | 2.13% | 507.03 | -0.50% | -6.11% | +11.68% | +97.54% | 67 |
| ADI Analog Devices | 2.10% | 406.19 | +0.06% | -2.63% | +12.44% | +50.24% | 69 |
| AVGO Broadcom Ltd | 2.05% | 361.54 | +0.39% | +1.80% | +0.20% | +4.68% | 20 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1780.34 | +0.60% | -4.66% | +5.51% | +66.99% | 44 |
| NVDA Nvidia Corp | 1.92% | 229.28 | -0.52% | -2.00% | +5.00% | +23.09% | 38 |
| APP Applovin Corp Cl A | 1.92% | 277.04 | -1.10% | +3.29% | -11.91% | -58.89% | 2 |
| AAPL Apple Inc | 1.90% | 336.64 | -1.11% | +0.88% | +3.08% | +23.94% | 29 |
| SNPS Synopsys Inc | 1.78% | 509.99 | +2.46% | +4.10% | +28.41% | +8.57% | 89 |
| MSFT Microsoft Corp | 1.70% | 535.07 | +2.38% | +3.39% | +8.66% | +10.89% | 56 |
| WDAY Workday Inc | 1.65% | 186.59 | -0.65% | +0.24% | +0.81% | -13.13% | 22 |
| META META Platforms Inc | 1.60% | 718.67 | -0.31% | -1.29% | +11.53% | +8.97% | 64 |
| ADBE Adobe Systems Inc | 1.58% | 242.27 | +0.51% | +1.93% | -2.64% | -30.78% | 13 |
| DASH Doordash Inc Cl A | 1.55% | 196.50 | +2.50% | +3.89% | -2.25% | -13.24% | 16 |
| SHOP Shopify Inc | 1.51% | 170.85 | +3.82% | +12.85% | +34.95% | +6.14% | 96 |
| MSTR Strategy Inc | 1.45% | 154.34 | +1.89% | -3.54% | +20.05% | +1.57% | 73 |
| ADSK Autodesk Inc | 1.43% | 235.35 | +0.75% | +11.01% | +11.22% | -20.49% | 62 |
| PLTR Palantir Technologies Cl A | 1.43% | 209.05 | +5.17% | +10.75% | +26.04% | +17.61% | 87 |
| ROP Roper Industries | 1.42% | 364.09 | -0.04% | +2.76% | -6.30% | -17.83% | 9 |
| TRI Thomson Reuters Corp | 1.37% | 103.21 | +1.63% | +5.73% | +7.84% | -20.00% | 53 |
| PDD Pdd Holdings Inc | 1.35% | 81.35 | +3.95% | +7.92% | +4.51% | -28.26% | 33 |
| ZS Zscaler Inc | 1.35% | 233.73 | +7.80% | +18.89% | +42.97% | +3.92% | 98 |
| CTSH Cognizant Tech Sol | 1.31% | 59.20 | -1.35% | +1.18% | +1.51% | -28.31% | 27 |
| INTU Intuit Inc | 1.01% | 302.75 | -0.37% | +8.21% | -3.20% | -54.07% | 11 |
| GOOGL Alphabet Cl A | 0.94% | 351.66 | +0.97% | +2.38% | +5.73% | +12.43% | 49 |
| GOOG Alphabet Cl C | 0.94% | 347.86 | +0.87% | +2.21% | +5.29% | +10.93% | 42 |
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 2026-10-09: over 21 sessions the fund returned +8.35% while its median constituent returned +5.73% — a dispersion of 12.95 pp; 44% 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 2026-10-09: fund +0.71%, median member +0.39%, 26 advancers vs 19 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.