Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 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 | +3.60% | +1.4 | -12pp | -3.58pp | Confirming ↑ |
| 1 month | +8.98% | +1.89 | +0pp | -0.98pp | Confirming ↑ |
| 1 quarter | +8.75% | +1.33 | +2pp | +0.10pp | Confirming ↑ |
Over the last 126 sessions: price up +48.41%, breadth up (+6.16/name) · % beating 44→44 · median−ETF -1.89pp→-1.72pp.
Stocks above their moving average — participation breadth
Of the 45 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 45 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 | 24 (53%) | 6 (13%) | +18 |
| 1-Month | 16 (36%) | 1 (2%) | +15 |
| 3-Month | 10 (22%) | 1 (2%) | +9 |
| 6-Month | 7 (16%) | 0 (0%) | +7 |
| 52-Week | 5 (11%) | 0 (0%) | +5 |
| YTD | 6 (13%) | 0 (0%) | +6 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.42% | +0.22% | -0.20pp | 27 / 18 | 20 / 25 | 21 of 45 | ±2.86% |
| 5d | +3.60% | +3.35% | -0.25pp | 36 / 9 | 20 / 25 | 10 of 45 | ±5.88% |
| 21d | +8.98% | +7.26% | -1.72pp | 33 / 12 | 20 / 25 | 2 of 45 | ±13.49% |
| YTD | +47.81% | +15.03% | -32.79pp | 34 / 11 | 19 / 26 | 0 of 45 | ±115.6% |
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+5.81%+0.32pp
- AMD+2.80%+0.11pp
- FTNT+3.88%+0.11pp
- PANW+3.23%+0.08pp
- AVGO+3.67%+0.08pp
- STX-9.18%-0.31pp
- WDC-6.93%-0.21pp
- INTC-3.18%-0.12pp
- KLAC-4.54%-0.1pp
- LRCX-3.44%-0.08pp
This month (21d)
- MRVL+28.39%+1.55pp
- AMD+35.98%+1.42pp
- DDOG+30.67%+0.9pp
- ARM+20.02%+0.9pp
- CRWD+30.86%+0.82pp
- WDC-12.04%-0.36pp
- APP-13.03%-0.25pp
- STX-5.14%-0.18pp
- ADBE-10.65%-0.17pp
- ROP-11.05%-0.16pp
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)
- AMD+35.98%
- CRWD+30.86%
- DDOG+30.67%
- MRVL+28.39%
- SNPS+28.27%
- APP-13.03%
- INTU-12.89%
- WDC-12.04%
- ROP-11.05%
- ADBE-10.65%
QTEC — constituent leadership race
$100 in each covered QTEC 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 — 45 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MRVL Marvell Technology Inc | 5.46% | 287.01 | +5.81% | +9.02% | +28.39% | +238.15% | 91 |
| ARM Arm Holdings Plc ADR | 4.51% | 302.56 | -0.11% | +3.03% | +20.02% | +176.79% | 76 |
| AMD Adv Micro Devices | 3.94% | 649.42 | +2.80% | +6.89% | +35.98% | +203.24% | 98 |
| INTC Intel Corp | 3.87% | 112.50 | -3.18% | -2.96% | +17.43% | +204.88% | 71 |
| MU Micron Technology | 3.57% | 1045.56 | -1.73% | -1.83% | +2.85% | +266.49% | 31 |
| STX Seagate Technology Holdings | 3.42% | 805.63 | -9.18% | -11.80% | -5.14% | +193.05% | 18 |
| WDC Western Digital Corp | 2.98% | 411.04 | -6.93% | -9.36% | -12.04% | +138.72% | 4 |
| DDOG Datadog Inc Cl A | 2.95% | 278.24 | +0.66% | +3.60% | +30.67% | +104.60% | 93 |
| QCOM Qualcomm Inc | 2.83% | 181.03 | +0.13% | -1.67% | +7.28% | +6.51% | 51 |
| FTNT Fortinet Inc | 2.79% | 191.27 | +3.88% | +8.70% | +22.38% | +140.86% | 80 |
| CRWD Crowdstrike Holdings | 2.67% | 278.86 | +2.27% | +6.14% | +30.86% | +137.96% | 96 |
| SNDK Sandisk Corp | 2.63% | 1660.46 | -2.56% | -4.01% | -4.57% | +599.49% | 24 |
| PANW Palo Alto Networks | 2.60% | 419.91 | +3.23% | +8.11% | +26.00% | +127.96% | 87 |
| NXPI Nxp Semiconductors | 2.55% | 244.38 | +1.00% | +3.35% | +7.26% | +13.17% | 49 |
| TXN Texas Instruments | 2.47% | 297.23 | +0.79% | +5.52% | +15.01% | +72.44% | 62 |
| MPWR Monolithic Power Sys | 2.35% | 1473.69 | -0.42% | +8.84% | +20.41% | +62.92% | 78 |
| MCHP Microchip Technology | 2.32% | 81.26 | -0.28% | +3.15% | +9.56% | +28.28% | 56 |
| LRCX Lam Research Corp | 2.23% | 333.89 | -3.44% | +3.10% | +8.53% | +95.42% | 53 |
| CDNS Cadence Design Sys | 2.20% | 359.55 | +1.72% | +10.91% | +22.84% | +15.03% | 82 |
| KLAC K L A-Tencor Corp | 2.16% | 197.46 | -4.54% | +0.47% | +6.39% | +63.11% | 44 |
| AMAT Applied Materials | 2.13% | 530.27 | -2.21% | +3.57% | +16.62% | +106.60% | 69 |
| ADI Analog Devices | 2.10% | 420.55 | +0.35% | +5.61% | +16.09% | +55.56% | 67 |
| AVGO Broadcom Ltd | 2.05% | 375.81 | +3.67% | +5.83% | +5.00% | +8.81% | 38 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1834.10 | -1.39% | -0.02% | +6.95% | +72.03% | 47 |
| NVDA Nvidia Corp | 1.92% | 239.24 | +0.14% | +5.29% | +3.97% | +28.44% | 33 |
| APP Applovin Corp Cl A | 1.92% | 278.78 | -1.13% | -8.79% | -13.03% | -58.63% | 0 |
| AAPL Apple Inc | 1.90% | 333.63 | +0.22% | +1.28% | +4.27% | +22.84% | 36 |
| SNPS Synopsys Inc | 1.78% | 505.17 | +3.42% | +21.70% | +28.27% | +7.55% | 89 |
| MSFT Microsoft Corp | 1.70% | 529.30 | +0.78% | +4.00% | +5.92% | +9.70% | 40 |
| WDAY Workday Inc | 1.65% | 186.55 | -1.28% | -1.38% | -4.72% | -13.14% | 20 |
| META META Platforms Inc | 1.60% | 738.88 | -0.41% | +0.01% | +19.80% | +12.03% | 73 |
| ADBE Adobe Systems Inc | 1.58% | 238.12 | -0.28% | +2.12% | -10.65% | -31.96% | 9 |
| DASH Doordash Inc Cl A | 1.55% | 193.62 | +0.96% | +3.48% | -8.55% | -14.51% | 11 |
| SHOP Shopify Inc | 1.51% | 164.44 | +2.70% | +10.91% | +13.34% | +2.16% | 60 |
| MSTR Strategy Inc | 1.45% | 164.55 | +0.07% | +6.39% | +15.23% | +8.29% | 64 |
| ADSK Autodesk Inc | 1.43% | 231.28 | +4.39% | +13.83% | +6.14% | -21.87% | 42 |
| PLTR Palantir Technologies Cl A | 1.43% | 192.07 | +1.41% | +2.73% | +10.18% | +8.06% | 58 |
| ROP Roper Industries | 1.42% | 362.28 | -0.30% | +3.93% | -11.05% | -18.24% | 7 |
| TRI Thomson Reuters Corp | 1.37% | 98.09 | +1.04% | +1.92% | -7.18% | -23.97% | 16 |
| PDD Pdd Holdings Inc | 1.35% | 78.40 | +0.64% | +1.16% | -4.63% | -30.86% | 22 |
| ZS Zscaler Inc | 1.35% | 212.25 | +5.18% | +7.01% | +25.00% | -5.63% | 84 |
| CTSH Cognizant Tech Sol | 1.31% | 57.22 | -1.63% | +0.67% | -8.17% | -30.71% | 13 |
| INTU Intuit Inc | 1.01% | 289.81 | +1.80% | +8.13% | -12.89% | -56.03% | 2 |
| GOOGL Alphabet Cl A | 0.94% | 347.68 | +0.35% | +1.98% | +2.72% | +11.16% | 27 |
| GOOG Alphabet Cl C | 0.94% | 344.59 | +0.22% | +2.16% | +2.77% | +9.89% | 29 |
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
QTEC dispersion — data Q&A
Is QTEC's move broad or carried by a few names (21 sessions)?
As of 2026-10-06: over 21 sessions the fund returned +8.98% while its median constituent returned +7.26% — a dispersion of 13.49 pp; 44% of 45 members beat the fund. Broad advance - breadth is rising with price.
How did QTEC's members trade in the last session?
As of 2026-10-06: fund +0.42%, median member +0.22%, 27 advancers vs 18 decliners.
What does the dispersion page for QTEC 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. 45 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.