Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | +1.14% | +0.41 | -6pp | -1.96pp | Confirming ↑ |
| 1 month | +3.44% | +0.47 | +4pp | -0.99pp | Confirming ↑ |
| 1 quarter | +3.25% | +0.24 | -7pp | -2.35pp | Confirming ↑ |
Over the last 126 sessions: price up +27.76%, breadth up (+4.02/name) · % beating 50→44 · median−ETF +0.09pp→-2.01pp.
Stocks above their moving average — participation breadth
Of the 49 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 2026-10-07.
New highs & new lows — by horizon
How many of the 49 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 | 18 (37%) | 12 (24%) | +6 |
| 1-Month | 4 (8%) | 3 (6%) | +1 |
| 3-Month | 2 (4%) | 2 (4%) | +0 |
| 6-Month | 2 (4%) | 0 (0%) | +2 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 2 (4%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.69% | +0.15% | +0.84pp | 27 / 21 | 30 / 19 | 19 of 49 | ±1.76% |
| 5d | +1.14% | +0.97% | -0.17pp | 31 / 18 | 23 / 26 | 12 of 49 | ±4.89% |
| 21d | +3.45% | +2.16% | -1.29pp | 26 / 23 | 21 / 28 | 4 of 49 | ±12.57% |
| YTD | +15.82% | +9.58% | -6.24pp | 30 / 18 | 18 / 30 | 0 of 48 | ±67.43% |
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)
- MU+4.06%+0.16pp
- AMGN+2.60%+0.04pp
- ISRG+2.41%+0.04pp
- VRSK+2.11%+0.03pp
- GILD+1.82%+0.03pp
- CRWD-4.81%-0.14pp
- ARM-2.71%-0.14pp
- PANW-3.42%-0.1pp
- MPWR-3.24%-0.08pp
- DDOG-2.48%-0.08pp
This month (21d)
- DDOG+29.07%+0.96pp
- CRWD+26.39%+0.78pp
- ARM+12.56%+0.63pp
- FTNT+20.20%+0.63pp
- CDNS+25.35%+0.62pp
- STX-10.70%-0.41pp
- AXON-19.67%-0.34pp
- PAYX-13.15%-0.24pp
- ALNY-13.72%-0.23pp
- BKNG-13.34%-0.22pp
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+31.87%
- DDOG+29.07%
- SNPS+28.22%
- CRWD+26.39%
- CDNS+25.35%
- AXON-19.67%
- ALNY-13.72%
- BKNG-13.34%
- PAYX-13.15%
- STX-10.70%
QQEW — constituent leadership race
$100 in each covered QQEW 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 294.37 | -2.71% | +1.63% | +12.56% | +169.30% | 76 |
| MU Micron Technology | 3.98% | 1088.00 | +4.06% | +2.15% | +8.77% | +281.37% | 71 |
| STX Seagate Technology Holdings | 3.80% | 807.57 | +0.24% | -12.44% | -10.70% | +193.76% | 8 |
| DDOG Datadog Inc Cl A | 3.29% | 271.34 | -2.48% | -0.92% | +29.07% | +99.53% | 96 |
| FTNT Fortinet Inc | 3.10% | 189.28 | -1.04% | +5.88% | +20.20% | +138.36% | 86 |
| CRWD Crowdstrike Holdings | 2.97% | 265.44 | -4.81% | +0.26% | +26.39% | +126.50% | 92 |
| PANW Palo Alto Networks | 2.89% | 405.57 | -3.42% | +2.08% | +20.35% | +120.18% | 88 |
| MPWR Monolithic Power Sys | 2.61% | 1425.98 | -3.24% | +5.85% | +17.03% | +57.64% | 80 |
| LRCX Lam Research Corp | 2.49% | 329.51 | -1.31% | +0.30% | +2.84% | +92.86% | 55 |
| CDNS Cadence Design Sys | 2.45% | 356.12 | -0.95% | +7.85% | +25.35% | +13.93% | 90 |
| KLAC K L A-Tencor Corp | 2.40% | 196.83 | -0.32% | +0.97% | +4.15% | +62.59% | 61 |
| AVGO Broadcom Ltd | 2.28% | 376.51 | +0.19% | +7.21% | +2.16% | +9.01% | 49 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1804.96 | -1.59% | -0.37% | +2.27% | +69.30% | 51 |
| NVDA Nvidia Corp | 2.14% | 237.47 | -0.74% | +3.98% | +5.32% | +27.49% | 65 |
| APP Applovin Corp Cl A | 2.13% | 281.29 | +0.90% | -3.15% | -9.85% | -58.25% | 10 |
| AAPL Apple Inc | 2.12% | 336.67 | +0.91% | +1.10% | +6.47% | +23.96% | 67 |
| MNST Monster Beverage Corp | 2.03% | 42.88 | -0.86% | +3.03% | -0.63% | +11.86% | 43 |
| SNPS Synopsys Inc | 1.99% | 502.67 | -0.49% | +15.57% | +28.22% | +7.01% | 94 |
| MSFT Microsoft Corp | 1.89% | 529.76 | +0.09% | +3.29% | +7.25% | +9.79% | 69 |
| ADP Automatic Data Processing | 1.87% | 264.00 | +0.63% | +2.30% | -0.85% | +3.48% | 41 |
| ROST Ross Stores Inc | 1.86% | 225.53 | +0.59% | -3.37% | -1.65% | +25.46% | 35 |
| WDAY Workday Inc | 1.84% | 184.26 | -1.23% | -3.26% | -1.08% | -14.21% | 39 |
| DXCM Dexcom Inc | 1.83% | 84.30 | +1.09% | -2.31% | -0.27% | +27.02% | 45 |
| PAYX Paychex Inc | 1.81% | 101.55 | +0.52% | +3.10% | -13.15% | -8.53% | 6 |
| META META Platforms Inc | 1.78% | 721.31 | -2.38% | -0.53% | +17.58% | +9.37% | 82 |
| ADBE Adobe Systems Inc | 1.76% | 232.77 | -2.25% | -2.99% | -9.52% | -33.49% | 12 |
| ABNB Airbnb Inc Cl A | 1.76% | 160.63 | +0.15% | -0.01% | -7.97% | +18.35% | 20 |
| AXON Axon Enterprise | 1.75% | 406.00 | -3.01% | -3.91% | -19.67% | -28.51% | 0 |
| DASH Doordash Inc Cl A | 1.72% | 191.24 | -1.23% | +4.19% | -4.59% | -15.56% | 24 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 53 |
| MELI Mercadolibre Inc | 1.69% | 1872.78 | +0.80% | +8.35% | -2.78% | -7.02% | 31 |
| AMGN Amgen Inc | 1.68% | 413.08 | +2.60% | -2.00% | +5.06% | +27.08% | 63 |
| IDXX Idexx Laboratories | 1.65% | 506.67 | -1.70% | -2.97% | -2.60% | -25.11% | 33 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 224.41 | +0.21% | -9.05% | -13.72% | -43.57% | 2 |
| VRTX Vertex Pharmaceutic | 1.64% | 505.64 | +0.66% | -3.28% | -4.40% | +11.53% | 27 |
| BKNG Booking Holdings | 1.63% | 155.87 | -1.12% | -4.32% | -13.34% | — | 4 |
| PLTR Palantir Technologies Cl A | 1.59% | 194.12 | +1.07% | +3.78% | +13.99% | +9.21% | 78 |
| GILD Gilead Sciences Inc | 1.59% | 146.85 | +1.82% | -1.48% | +0.71% | +20.32% | 47 |
| ADSK Autodesk Inc | 1.59% | 235.05 | +1.63% | +12.46% | +10.76% | -20.59% | 73 |
| ROP Roper Industries | 1.58% | 358.57 | -1.02% | +2.88% | -9.37% | -19.08% | 14 |
| PDD Pdd Holdings Inc | 1.51% | 78.50 | +0.13% | +0.72% | -1.57% | -30.77% | 37 |
| VRSK Verisk Analytics Inc | 1.51% | 168.68 | +2.11% | +0.49% | -3.62% | -24.40% | 29 |
| ZS Zscaler Inc | 1.51% | 213.55 | +0.61% | +7.09% | +31.87% | -5.06% | 98 |
| NFLX Netflix Inc | 1.50% | 69.70 | +1.47% | +0.17% | -9.21% | -25.66% | 16 |
| ISRG Intuitive Surg Inc | 1.48% | 414.52 | +2.41% | +1.94% | +18.38% | -26.81% | 84 |
| REGN Regeneron Pharmaceuticals | 1.45% | 742.12 | +0.46% | -2.13% | -8.42% | -3.74% | 18 |
| INTU Intuit Inc | 1.12% | 297.24 | +2.56% | +7.81% | -6.80% | -54.91% | 22 |
| GOOGL Alphabet Cl A | 1.04% | 350.50 | +0.81% | +1.87% | +3.59% | +12.06% | 59 |
| GOOG Alphabet Cl C | 1.04% | 347.37 | +0.81% | +1.95% | +3.58% | +10.78% | 57 |
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
QQEW dispersion — data Q&A
Is QQEW's move broad or carried by a few names (21 sessions)?
As of 2026-10-07: over 21 sessions the fund returned +3.45% while its median constituent returned +2.16% — a dispersion of 12.57 pp; 43% of 49 members beat the fund. Broad advance - breadth is rising with price.
How did QQEW's members trade in the last session?
As of 2026-10-07: fund -0.69%, median member +0.15%, 27 advancers vs 21 decliners.
What does the dispersion page for QQEW 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. 49 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.