Constituent dispersion · breadth vs the index
IGV — iShares Expanded Tech-Software
Concentration 38.16% in top 5 21.93 effective names · HHI 456
RS vs S&P 500 21d +1.36pp sector return − SPY
RS vs Nasdaq-100 21d -1.11pp sector return − QQQ
Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing. Last 21 sessions — price +2.25% · A/D -31 (-0.53/name)
IGV price
Cumulative advance / decline of constituents — rises when more names are up than down; turns before price at inflections
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +2.18% | +1.08% | -1.10pp | 42 / 17 | 16 / 43 | 17 of 59 | ±2.26% |
| 5d | -3.11% | -2.91% | +0.20pp | 16 / 43 | 30 / 29 | 6 of 59 | ±5.41% |
| 21d | +2.25% | +1.42% | -0.83pp | 34 / 25 | 29 / 30 | 1 of 59 | ±12.75% |
| YTD | -12.31% | -16.98% | -4.67pp | 17 / 42 | 26 / 33 | 0 of 59 | ±45.5% |
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)
- ORCL+4.62%+0.43pp
- PLTR+5.25%+0.38pp
- APP+4.85%+0.23pp
- MSFT+2.31%+0.19pp
- PANW+1.76%+0.13pp
- CRM-0.81%-0.05pp
- TYL-3.01%-0.01pp
- ROP-0.75%-0.01pp
- GWRE-2.06%-0.01pp
- WDAY-0.92%-0.01pp
This month (21d)
- PANW+19.45%+1.46pp
- CRWD+19.48%+1.18pp
- FTNT+22.67%+0.69pp
- NOW+15.08%+0.54pp
- CDNS+11.81%+0.43pp
- INTU-25.51%-0.75pp
- MSTR-29.86%-0.57pp
- ADBE-12.93%-0.48pp
- SNPS-10.91%-0.39pp
- ADSK-15.08%-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)
- GTLB+25.80%
- ESTC+25.15%
- CVLT+24.78%
- VRNS+24.50%
- FTNT+22.67%
- MSTR-29.86%
- INTU-25.51%
- PTC-17.88%
- ZS-15.15%
- ADSK-15.08%
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.