Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
Concentration 19.2% in top 5 43.1 effective names · HHI 232
RS vs S&P 500 21d +6.31pp sector return − SPY
RS vs Nasdaq-100 21d +4.87pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +7.83% · A/D +24 (+0.49/name)
QQEW 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 | -1.55% | -0.85% | +0.70pp | 16 / 33 | 31 / 18 | 19 of 49 | ±2.42% |
| 5d | +2.84% | +0.89% | -1.94pp | 27 / 21 | 13 / 36 | 8 of 49 | ±6.68% |
| 21d | +7.82% | +3.61% | -4.22pp | 28 / 20 | 18 / 30 | 2 of 48 | ±18.28% |
| YTD | +9.54% | -0.55% | -10.09pp | 22 / 25 | 18 / 29 | 3 of 47 | ±74.21% |
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)
- STX+1.23%+0.05pp
- GILD+2.36%+0.04pp
- MELI+1.68%+0.03pp
- ABNB+1.61%+0.03pp
- ROP+1.47%+0.02pp
- MU-6.18%-0.25pp
- MPWR-9.29%-0.24pp
- ARM-3.93%-0.2pp
- KLAC-7.44%-0.18pp
- LRCX-5.03%-0.13pp
This month (21d)
- ARM+89.49%+4.49pp
- MU+40.86%+1.63pp
- STX+29.65%+1.13pp
- LRCX+29.72%+0.74pp
- FTNT+19.74%+0.61pp
- INTU-28.50%-0.32pp
- ZS-21.00%-0.32pp
- ADBE-16.27%-0.29pp
- AVGO-11.40%-0.26pp
- ADSK-14.89%-0.24pp
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)
- ARM+89.49%
- MU+40.86%
- LRCX+29.72%
- STX+29.65%
- ASML+20.11%
- INTU-28.50%
- ZS-21.00%
- ADBE-16.27%
- ADSK-14.89%
- PDD-14.86%
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.