Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 Technology
Concentration 21.37% in top 5 38.02 effective names · HHI 263
RS vs S&P 500 21d +12.76pp sector return − SPY
RS vs Nasdaq-100 21d +10.29pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +13.65% · A/D +42 (+0.93/name)
QTEC 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 | +4.59% | +2.69% | -1.90pp | 41 / 4 | 15 / 30 | 9 of 45 | ±3.68% |
| 5d | +6.81% | +1.83% | -4.98pp | 32 / 13 | 16 / 29 | 5 of 45 | ±9.65% |
| 21d | +13.65% | +7.37% | -6.28pp | 30 / 14 | 15 / 29 | 0 of 44 | ±22.37% |
| YTD | +45.28% | +22.15% | -23.13pp | 27 / 17 | 20 / 24 | 0 of 44 | ±149.39% |
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)
- MRVL+10.43%+0.57pp
- WDC+16.09%+0.48pp
- MU+10.84%+0.39pp
- ARM+8.33%+0.38pp
- STX+9.43%+0.32pp
- CTSH-2.59%-0.03pp
- TRI-1.15%-0.02pp
- WDAY-0.92%-0.02pp
- ROP-0.75%-0.01pp
This month (21d)
- MRVL+69.18%+3.78pp
- ARM+80.55%+3.63pp
- MU+40.20%+1.44pp
- SNDK+52.44%+1.38pp
- WDC+33.61%+1pp
- MSTR-29.86%-0.43pp
- INTU-25.51%-0.26pp
- ADSK-15.08%-0.22pp
- AVGO-10.43%-0.21pp
- ZS-15.15%-0.2pp
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+80.55%
- MRVL+69.18%
- SNDK+52.44%
- MU+40.20%
- WDC+33.61%
- MSTR-29.86%
- INTU-25.51%
- ZS-15.15%
- ADSK-15.08%
- ADBE-12.93%
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.