Constituent dispersion · breadth vs the index
XLK — Technology Select Sector
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 | +1.30% | +0.03 | +2pp | +1.66pp | Confirming ↑ |
| 1 month | +5.67% | +1.31 | -9pp | -2.42pp | Confirming ↑ |
| 1 quarter | -2.67% | -0.69 | +11pp | +5.97pp | Confirming ↓ |
Over the last 126 sessions: price up +33.40%, breadth up (+6.44/name) · % beating 51→51 · median−ETF +0.92pp→+0.78pp.
Stocks above their moving average — participation breadth
Of the 72 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 2026-08-28.
New highs & new lows — by horizon
How many of the 72 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 (19%) | 15 (21%) | -1 |
| 1-Month | 11 (15%) | 11 (15%) | +0 |
| 3-Month | 9 (13%) | 2 (3%) | +7 |
| 6-Month | 8 (11%) | 0 (0%) | +8 |
| 52-Week | 1 (1%) | 0 (0%) | +1 |
| YTD | 3 (4%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.55% | -1.94% | -0.39pp | 18 / 54 | 34 / 38 | 21 of 72 | ±2.5% |
| 5d | +1.30% | +0.52% | -0.78pp | 39 / 33 | 30 / 42 | 10 of 72 | ±5.08% |
| 21d | +5.67% | +6.45% | +0.78pp | 46 / 26 | 37 / 35 | 3 of 72 | ±13.36% |
| YTD | +29.29% | +21.78% | -7.51pp | 49 / 22 | 32 / 39 | 0 of 71 | ±85.06% |
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)
- AAPL+1.63%+0.18pp
- MSFT+1.68%+0.13pp
- NOW+4.54%+0.03pp
- CRM+1.57%+0.02pp
- INTU+2.89%+0.01pp
- NVDA-4.57%-0.6pp
- LRCX-5.24%-0.15pp
- AMD-2.33%-0.12pp
- AMAT-4.29%-0.12pp
- INTC-2.85%-0.11pp
This month (21d)
- NVDA+11.54%+1.52pp
- MSFT+13.84%+1.06pp
- PLTR+52.37%+0.98pp
- MU+6.65%+0.47pp
- CRM+41.66%+0.42pp
- AAPL-4.12%-0.46pp
- AVGO-4.91%-0.23pp
- AMAT-7.99%-0.23pp
- AMD-4.08%-0.22pp
- APP-21.32%-0.18pp
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)
- PLTR+52.37%
- CRM+41.66%
- SMCI+33.72%
- NOW+31.47%
- IT+29.73%
- APP-21.32%
- WDC-13.81%
- ON-13.29%
- DDOG-11.76%
- NXPI-8.80%
XLK — constituent leadership race
$100 in each covered XLK constituent at 2025-12-24, 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 — 72 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| NVDA Nvidia Corp | 13.14% | 217.55 | -4.57% | +1.32% | +11.54% | +16.79% | 63 |
| AAPL Apple Inc | 11.26% | 319.70 | +1.63% | +3.35% | -4.12% | +17.71% | 17 |
| MSFT Microsoft Corp | 7.64% | 513.53 | +1.68% | +6.27% | +13.84% | +6.43% | 72 |
| MU Micron Technology | 7.09% | 932.86 | -0.27% | -3.51% | +6.65% | +226.99% | 50 |
| AMD Adv Micro Devices | 5.35% | 465.58 | -2.33% | -1.62% | -4.08% | +117.40% | 18 |
| AVGO Broadcom Ltd | 4.77% | 368.79 | -0.74% | +0.09% | -4.91% | +6.78% | 13 |
| INTC Intel Corp | 3.75% | 89.47 | -2.85% | -0.67% | -1.82% | +142.47% | 29 |
| CSCO Cisco Systems Inc | 3.07% | 109.93 | -1.98% | -1.00% | -3.20% | +44.25% | 19 |
| LRCX Lam Research Corp | 2.94% | 301.90 | -5.24% | -3.85% | +1.40% | +76.70% | 38 |
| AMAT Applied Materials | 2.89% | 461.67 | -4.29% | -6.23% | -7.99% | +79.87% | 7 |
| KLAC K L A-Tencor Corp | 2.14% | 175.54 | -4.48% | -4.59% | -2.55% | — | 25 |
| ORCL Oracle Corp | 2.00% | 150.85 | -0.72% | +2.99% | +18.26% | -22.13% | 85 |
| PLTR Palantir Technologies Cl A | 1.88% | 186.29 | +0.19% | +3.53% | +52.37% | +4.80% | 99 |
| SNDK Sandisk Corp | 1.88% | 1484.98 | +0.00% | -6.96% | +16.02% | +525.57% | 78 |
| TXN Texas Instruments | 1.75% | 258.64 | -2.96% | -2.16% | -6.74% | +50.05% | 10 |
| IBM Intl Business Machines | 1.63% | 235.59 | -1.34% | -0.04% | +6.25% | -20.01% | 49 |
| PANW Palo Alto Networks | 1.45% | 371.59 | -2.94% | +3.83% | +14.10% | +101.73% | 74 |
| QCOM Qualcomm Inc | 1.45% | 164.19 | -0.36% | +2.14% | +8.30% | -3.39% | 56 |
| ADI Analog Devices | 1.31% | 361.78 | -3.40% | -3.03% | -1.33% | +33.82% | 32 |
| STX Seagate Technology Holdings | 1.30% | 829.76 | -2.06% | -2.38% | -2.57% | +201.83% | 24 |
| WDC Western Digital Corp | 1.22% | 459.45 | -0.55% | +0.00% | -13.81% | +166.83% | 1 |
| APH Amphenol Corp | 1.21% | 157.74 | -2.26% | +0.46% | -1.30% | +16.95% | 33 |
| CRWD Crowdstrike Holdings | 1.10% | 218.40 | -4.19% | +13.78% | +17.91% | +86.36% | 83 |
| ANET Arista Networks Inc | 1.08% | 195.38 | -2.84% | +3.57% | +14.24% | +49.11% | 75 |
| CRM Salesforce Inc | 1.00% | 256.00 | +1.57% | +22.39% | +41.66% | -3.12% | 97 |
| GLW Corning Inc | 0.90% | 148.98 | -2.50% | -0.57% | +10.18% | +70.46% | 58 |
| APP Applovin Corp Cl A | 0.86% | 317.76 | +1.64% | +3.92% | -21.32% | -52.84% | 0 |
| DELL Dell Technologies Inc | 0.75% | 456.24 | -3.39% | +3.20% | +12.70% | +265.15% | 65 |
| NOW Servicenow Inc | 0.69% | 144.71 | +4.54% | +12.63% | +31.47% | -5.54% | 94 |
| CDNS Cadence Design Sys | 0.67% | 340.39 | -2.06% | +6.70% | +2.27% | +8.90% | 44 |
| ACN Accenture Plc | 0.67% | 189.61 | +1.19% | +2.34% | +16.12% | -28.31% | 79 |
| FTNT Fortinet Inc | 0.59% | 166.00 | -3.92% | +8.14% | +7.62% | +109.04% | 54 |
| SNPS Synopsys Inc | 0.56% | 442.61 | -4.79% | +11.24% | +18.88% | -5.77% | 88 |
| ADBE Adobe Systems Inc | 0.54% | 291.52 | +0.82% | +5.89% | +17.60% | -16.71% | 82 |
| INTU Intuit Inc | 0.49% | 358.06 | +2.89% | -2.44% | +13.49% | -45.68% | 68 |
| MPWR Monolithic Power Sys | 0.49% | 1256.26 | -4.18% | -4.56% | -4.55% | +38.88% | 14 |
| NXPI Nxp Semiconductors | 0.49% | 223.58 | -1.01% | -0.88% | -8.80% | +3.54% | 6 |
| DDOG Datadog Inc Cl A | 0.48% | 236.98 | -2.45% | +0.58% | -11.76% | +74.26% | 4 |
| COHR Coherent Corp | 0.46% | 279.20 | -5.48% | -3.56% | +12.10% | +51.27% | 64 |
| MSI Motorola Solutions | 0.44% | 486.00 | -0.11% | +1.15% | +12.81% | +27.12% | 67 |
| LITE Lumentum Holdings | 0.42% | 895.00 | -6.39% | +3.26% | +29.10% | +142.82% | 90 |
| HPE Hewlett Packard Enterprise | 0.41% | 52.33 | -3.82% | -2.10% | +11.01% | +119.26% | 61 |
| TER Teradyne Inc | 0.41% | 354.97 | -4.59% | -5.53% | -2.88% | +83.47% | 21 |
| CIEN Ciena Corp | 0.40% | 378.44 | -5.35% | -4.38% | +1.71% | +61.82% | 42 |
| TEL Te Connectivity Ltd | 0.40% | 202.66 | -0.17% | -0.42% | -1.90% | -10.30% | 28 |
| KEYS Keysight Technologies | 0.39% | 319.97 | -1.80% | +1.21% | +2.33% | +57.47% | 46 |
| MCHP Microchip Technology | 0.33% | 72.93 | -3.39% | -3.56% | -2.77% | +15.13% | 22 |
| ON On Semiconductor | 0.30% | 72.61 | -2.93% | -2.16% | -13.29% | +34.09% | 3 |
| ADSK Autodesk Inc | 0.27% | 260.66 | -3.67% | +2.69% | +10.93% | -11.94% | 60 |
| JBL Jabil Circuit | 0.26% | 301.45 | -3.45% | -3.75% | -2.29% | +32.27% | 26 |
| ROP Roper Industries | 0.23% | 426.20 | +0.83% | +3.50% | +9.49% | -3.81% | 57 |
| NTAP Netapp Inc | 0.21% | 187.02 | -1.90% | -2.73% | +7.50% | +76.39% | 53 |
| Q Qnity Electronics Inc | 0.20% | 120.26 | -4.82% | -6.69% | -7.86% | +47.46% | 8 |
| TDY Teledyne Technologies | 0.19% | 621.96 | -0.72% | -2.23% | -4.19% | +21.78% | 15 |
| FSLR First Solar Inc | 0.18% | 204.46 | -2.68% | -4.58% | -0.75% | -21.73% | 35 |
| FICO Fair Isaac and Company | 0.18% | 1153.57 | -0.30% | -1.63% | +1.23% | -31.77% | 36 |
| WDAY Workday Inc | 0.18% | 204.72 | +5.76% | +2.35% | +29.48% | -4.68% | 92 |
| CTSH Cognizant Tech Sol | 0.16% | 64.04 | +0.44% | +3.51% | +18.81% | -22.45% | 86 |
| HPQ HP Inc | 0.15% | 30.52 | +3.00% | +2.73% | +13.63% | +39.21% | 69 |
| VRSN Verisign Inc | 0.15% | 291.93 | -0.95% | +3.59% | +1.87% | +20.93% | 43 |
| FFIV F5 Inc | 0.14% | 394.24 | -3.90% | +2.50% | +1.41% | +54.45% | 39 |
| AKAM Akamai Technologies | 0.12% | 107.47 | -3.39% | -2.67% | -5.52% | +23.17% | 11 |
| CDW CDW Corp | 0.11% | 147.69 | -0.86% | +8.12% | +1.46% | +9.63% | 40 |
| SMCI Super Micro Computer | 0.10% | 37.08 | -3.59% | -0.43% | +33.72% | +26.68% | 96 |
| PTC Ptc Inc | 0.09% | 157.15 | -1.13% | +1.60% | +15.30% | -9.79% | 76 |
| GEN Gen Digital Inc | 0.09% | 31.02 | +1.70% | +7.22% | +13.67% | +15.31% | 71 |
| TYL Tyler Technologies | 0.08% | 377.94 | +2.18% | +7.76% | +16.90% | -16.74% | 81 |
| TRMB Trimble Navigation | 0.08% | 61.01 | -0.86% | +1.26% | +6.92% | -22.13% | 51 |
| ZBRA Zebra Technologies | 0.07% | 356.45 | -1.29% | -3.27% | +23.52% | +46.80% | 89 |
| SWKS Skyworks Solutions | 0.07% | 65.79 | -2.33% | -2.01% | +5.30% | +5.90% | 47 |
| IT Gartner Inc | 0.07% | 198.39 | +0.91% | +1.27% | +29.73% | -21.36% | 93 |
| GDDY Godaddy Inc | 0.07% | 97.70 | +0.74% | +0.65% | -1.64% | -21.26% | 31 |
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
XLK dispersion — data Q&A
Is XLK's move broad or carried by a few names (21 sessions)?
As of 2026-08-28: over 21 sessions the fund returned +5.67% while its median constituent returned +6.45% — a dispersion of 13.36 pp; 51% of 72 members beat the fund. Broad advance - breadth is rising with price.
How did XLK's members trade in the last session?
As of 2026-08-28: fund -1.55%, median member -1.94%, 18 advancers vs 54 decliners.
What does the dispersion page for XLK 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. 72 constituents covered, re-baked nightly from the Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.