Constituent dispersion · breadth vs the index
QQXT — First Trust Nasdaq-100 Ex-Technology
Concentration 11.69% in top 5 54.95 effective names · HHI 182
RS vs S&P 500 21d +0.76pp sector return − SPY
RS vs Nasdaq-100 21d -0.68pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +2.27% · A/D +69 (+1.23/name)
QQXT 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 | -0.12% | -0.14% | -0.02pp | 23 / 33 | 28 / 28 | 31 of 56 | ±1.92% |
| 5d | +0.65% | +1.23% | +0.58pp | 34 / 21 | 31 / 25 | 13 of 56 | ±3.49% |
| 21d | +2.27% | +2.60% | +0.33pp | 35 / 21 | 30 / 26 | 5 of 56 | ±7.14% |
| YTD | -0.46% | +4.04% | +4.50pp | 29 / 26 | 31 / 24 | 4 of 55 | ±27.72% |
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)
- TTWO+6.35%+0.12pp
- PYPL+2.73%+0.05pp
- GILD+2.36%+0.04pp
- CEG+2.15%+0.04pp
- FER+1.58%+0.03pp
- LITE-8.55%-0.11pp
- ODFL-2.44%-0.06pp
- NFLX-3.61%-0.06pp
- GEHC-2.36%-0.04pp
- TMUS-2.38%-0.04pp
This month (21d)
- DXCM+18.71%+0.36pp
- ODFL+14.03%+0.33pp
- MAR+13.23%+0.28pp
- BKNG+14.01%+0.24pp
- KDP+10.61%+0.21pp
- REGN-11.83%-0.18pp
- INSM-12.48%-0.17pp
- AMZN-6.87%-0.15pp
- NFLX-9.54%-0.15pp
- FANG-7.58%-0.14pp
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)
- DXCM+18.71%
- ODFL+14.03%
- BKNG+14.01%
- MAR+13.23%
- AXON+11.10%
- INSM-12.48%
- REGN-11.83%
- LITE-9.82%
- NFLX-9.54%
- WMT-7.93%
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.