Constituent dispersion · breadth vs the index
QQXT — First Trust Nasdaq-100 Ex-Technology
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 | +1.06% | +0 | -8pp | -0.77pp | In line |
| 1 month | -4.09% | -2.39 | +5pp | +1.51pp | Confirming ↓ |
| 1 quarter | -1.45% | -1.98 | -5pp | -0.52pp | Confirming ↓ |
Over the last 126 sessions: price down -1.85%, breadth down (-1.84/name) · % beating 60→43 · median−ETF +1.68pp→-0.60pp.
Stocks above their moving average — participation breadth
Of the 56 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 2026-10-06.
New highs & new lows — by horizon
How many of the 56 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 | 23 (41%) | 14 (25%) | +9 |
| 1-Month | 7 (13%) | 6 (11%) | +1 |
| 3-Month | 3 (5%) | 4 (7%) | -1 |
| 6-Month | 2 (4%) | 4 (7%) | -2 |
| 52-Week | 2 (4%) | 3 (6%) | -1 |
| YTD | 2 (4%) | 4 (7%) | -2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.78% | +0.43% | -0.35pp | 35 / 20 | 26 / 30 | 31 of 56 | ±2.16% |
| 5d | +1.06% | +0.11% | -0.95pp | 29 / 27 | 21 / 35 | 16 of 56 | ±4.71% |
| 21d | -4.09% | -4.49% | -0.40pp | 13 / 43 | 25 / 31 | 10 of 56 | ±9.12% |
| YTD | -1.80% | +2.73% | +4.53pp | 29 / 26 | 30 / 25 | 1 of 55 | ±35.04% |
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)
- CEG+12.25%+0.2pp
- CSCO+4.54%+0.13pp
- LITE+3.82%+0.05pp
- AMZN+1.95%+0.04pp
- MDLZ+1.93%+0.04pp
- DXCM-4.04%-0.08pp
- CPRT-3.00%-0.05pp
- ABNB-2.24%-0.04pp
- IDXX-2.21%-0.04pp
- GEHC-1.48%-0.02pp
This month (21d)
- LITE+28.61%+0.37pp
- CSCO+8.00%+0.23pp
- ISRG+10.38%+0.16pp
- WBD+9.09%+0.16pp
- MAR+7.36%+0.16pp
- AXON-18.82%-0.34pp
- CPRT-20.46%-0.34pp
- PAYX-17.00%-0.32pp
- BKNG-18.25%-0.31pp
- CHTR-28.52%-0.3pp
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)
- LITE+28.61%
- ISRG+10.38%
- WBD+9.09%
- CSCO+8.00%
- TSLA+7.51%
- CHTR-28.52%
- CPRT-20.46%
- AXON-18.82%
- CMCSA-18.61%
- BKNG-18.25%
QQXT — constituent leadership race
$100 in each covered QQXT 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 — 56 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CSCO Cisco Systems Inc | 2.93% | 117.94 | +4.54% | +10.71% | +8.00% | +54.76% | 93 |
| ODFL Old Dominion Freight Line | 2.34% | 178.02 | -0.75% | +0.32% | -4.22% | +13.69% | 54 |
| AMZN Amazon.com Inc | 2.16% | 256.29 | +1.95% | +3.90% | -0.86% | +11.03% | 73 |
| CSX CSX Corp | 2.12% | 47.50 | +0.15% | +1.21% | -3.87% | +31.47% | 57 |
| MAR Marriot Int Cl A | 2.11% | 361.28 | +1.51% | -0.09% | +7.36% | +16.68% | 89 |
| MNST Monster Beverage Corp | 2.10% | 43.25 | -0.60% | +3.62% | -1.30% | +12.82% | 71 |
| TSLA Tesla Inc | 1.99% | 380.68 | +0.51% | +7.89% | +7.51% | -15.35% | 91 |
| KDP Keurig Dr Pepper Inc | 1.98% | 31.13 | +0.78% | +0.32% | -4.48% | +13.05% | 52 |
| ADP Automatic Data Processing | 1.94% | 262.36 | +0.81% | +0.21% | -4.89% | +2.84% | 46 |
| ROST Ross Stores Inc | 1.93% | 224.21 | -0.95% | -4.35% | -2.62% | +24.73% | 66 |
| BKR Baker Hughes Company | 1.92% | 57.13 | -0.44% | +2.16% | -10.03% | +26.34% | 27 |
| DXCM Dexcom Inc | 1.90% | 83.39 | -4.04% | -3.75% | -5.13% | +25.64% | 45 |
| MDLZ Mondelez Intl Inc | 1.90% | 59.62 | +1.93% | +1.39% | -2.71% | +11.72% | 64 |
| TTWO Take-Two Interactive | 1.89% | 202.53 | -0.46% | -0.12% | -5.66% | -20.90% | 43 |
| FER Ferrovial N.V. | 1.89% | 51.46 | -0.73% | -5.70% | -11.35% | -20.35% | 20 |
| FAST Fastenal Company | 1.89% | 50.81 | +0.24% | +1.70% | +2.44% | +27.99% | 86 |
| PAYX Paychex Inc | 1.88% | 101.02 | +1.24% | +1.72% | -17.00% | -9.01% | 9 |
| PCAR Paccar Inc | 1.86% | 109.32 | -0.04% | -2.22% | -12.33% | +0.40% | 14 |
| FANG Diamondback Energy | 1.84% | 184.98 | +0.49% | +0.56% | -7.15% | +23.78% | 38 |
| ABNB Airbnb Inc Cl A | 1.82% | 160.39 | -2.24% | +2.19% | -11.84% | +18.18% | 18 |
| LIN Linde Plc | 1.82% | 489.95 | +1.57% | +3.50% | +2.59% | +15.29% | 88 |
| KHC Kraft Heinz Company | 1.82% | 22.03 | +0.87% | -6.06% | -11.35% | -7.63% | 21 |
| AXON Axon Enterprise | 1.81% | 418.62 | +1.65% | -0.23% | -18.82% | -26.29% | 4 |
| AEP American Electric Power | 1.78% | 121.67 | +1.62% | +1.99% | -2.27% | +6.35% | 68 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 84 |
| SBUX Starbucks Corp | 1.78% | 96.11 | +1.78% | +0.71% | -8.00% | +14.87% | 34 |
| ORLY O'Reilly Automotive | 1.77% | 85.14 | +1.48% | -1.08% | -3.13% | -6.65% | 63 |
| XEL XCEL Energy Inc | 1.77% | 72.73 | +1.73% | +2.89% | -3.95% | -0.80% | 55 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 101.71 | +0.24% | -0.57% | -3.83% | +12.14% | 59 |
| CTAS Cintas Corp | 1.76% | 195.96 | +0.29% | -0.90% | -2.25% | +4.43% | 70 |
| COST Costco Wholesale | 1.75% | 935.68 | +1.32% | +1.20% | +2.18% | +8.81% | 82 |
| MELI Mercadolibre Inc | 1.75% | 1857.99 | -0.14% | +7.72% | -6.08% | -7.76% | 39 |
| AMGN Amgen Inc | 1.74% | 402.60 | -0.09% | -4.97% | -7.92% | +23.85% | 36 |
| WMT Walmart Inc | 1.73% | 107.20 | +2.03% | +0.37% | +0.06% | -3.58% | 77 |
| HON Honeywell International | 1.72% | 212.87 | -0.59% | +1.30% | +1.56% | +5.45% | 80 |
| WBD Discovery Inc Series A | 1.72% | 30.95 | +0.03% | +0.16% | +9.09% | +7.39% | 95 |
| IDXX Idexx Laboratories | 1.71% | 515.41 | -2.21% | -3.38% | -3.73% | -23.82% | 61 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 223.94 | +1.84% | -11.86% | -15.85% | -43.68% | 13 |
| BKNG Booking Holdings | 1.70% | 157.63 | -0.44% | -2.90% | -18.25% | — | 7 |
| PYPL Paypal Holdings | 1.70% | 54.61 | +0.37% | +1.34% | -0.64% | -6.17% | 75 |
| VRTX Vertex Pharmaceutic | 1.70% | 502.31 | -0.24% | -4.64% | -8.02% | +10.80% | 32 |
| EXC Exelon Corp | 1.68% | 41.68 | +2.11% | +2.53% | -4.49% | -3.56% | 48 |
| PEP Pepsico Inc | 1.66% | 125.71 | +0.05% | -2.32% | -8.66% | -11.63% | 29 |
| GILD Gilead Sciences Inc | 1.65% | 144.23 | -0.28% | -4.66% | -4.48% | +18.18% | 50 |
| CEG Constellation Energy Corp | 1.64% | 300.40 | +12.25% | +13.54% | +0.48% | -14.85% | 79 |
| CPRT Copart Inc | 1.64% | 26.82 | -3.00% | -1.18% | -20.46% | -31.49% | 2 |
| GEHC GE Healthcare Technologies | 1.60% | 64.77 | -1.48% | -2.54% | -5.94% | -20.96% | 41 |
| VRSK Verisk Analytics Inc | 1.56% | 165.20 | +1.18% | -0.45% | -11.08% | -25.96% | 23 |
| NFLX Netflix Inc | 1.55% | 68.69 | +1.76% | -2.29% | -12.22% | -26.74% | 16 |
| ISRG Intuitive Surg Inc | 1.53% | 404.76 | -0.42% | -1.80% | +10.38% | -28.53% | 96 |
| REGN Regeneron Pharmaceuticals | 1.50% | 738.72 | +1.69% | -1.57% | -10.75% | -4.18% | 25 |
| TMUS T-Mobile US | 1.49% | 165.93 | +0.78% | +1.81% | -8.59% | -17.88% | 30 |
| CMCSA Comcast Corp A | 1.41% | 21.56 | -0.05% | -0.19% | -18.61% | -21.23% | 5 |
| INSM Insmed Inc | 1.35% | 105.23 | +1.35% | -8.99% | -16.68% | -39.54% | 11 |
| LITE Lumentum Holdings | 1.30% | 1133.40 | +3.82% | +16.43% | +28.61% | +207.50% | 98 |
| CHTR Charter Communications | 1.06% | 108.64 | +0.81% | -1.83% | -28.52% | -47.96% | 0 |
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
QQXT dispersion — data Q&A
Is QQXT's move broad or carried by a few names (21 sessions)?
As of 2026-10-06: over 21 sessions the fund returned -4.09% while its median constituent returned -4.49% — a dispersion of 9.12 pp; 45% of 56 members beat the fund. Broad decline - breadth is falling with price.
How did QQXT's members trade in the last session?
As of 2026-10-06: fund +0.78%, median member +0.43%, 35 advancers vs 20 decliners.
What does the dispersion page for QQXT 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. 56 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.