Constituent dispersion · breadth vs the index
QTOP — iShares Nasdaq-100 Top 30
Concentration 39.03% in top 5 19.31 effective names · HHI 518
RS vs S&P 500 21d -0.24pp sector return − SPY
RS vs Nasdaq-100 21d -1.68pp sector return − QQQ
Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing. Last 21 sessions — price +1.27% · A/D -2 (-0.06/name)
QTOP 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 | -2.13% | -1.08% | +1.05pp | 10 / 21 | 18 / 13 | 8 of 31 | ±2.82% |
| 5d | +2.76% | +2.43% | -0.32pp | 25 / 6 | 12 / 19 | 12 of 31 | ±4.37% |
| 21d | +1.27% | -0.51% | -1.78pp | 12 / 18 | 10 / 20 | 2 of 30 | ±12.53% |
| YTD | +19.48% | +10.70% | -8.79pp | 22 / 8 | 10 / 20 | 1 of 30 | ±69.56% |
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)
- AAPL+0.95%+0.09pp
- GOOGL+1.06%+0.05pp
- GOOG+1.09%+0.05pp
- META+1.13%+0.04pp
- GILD+2.36%+0.02pp
- AMD-7.30%-0.32pp
- MU-6.18%-0.32pp
- INTC-8.45%-0.3pp
- NVDA-2.37%-0.27pp
- AVGO-4.37%-0.19pp
This month (21d)
- MU+40.86%+2.12pp
- AMD+19.62%+0.87pp
- LRCX+29.72%+0.68pp
- AMAT+30.30%+0.62pp
- INTC+7.61%+0.27pp
- NVDA-7.95%-0.91pp
- AVGO-11.40%-0.49pp
- MSFT-6.46%-0.43pp
- AMZN-6.87%-0.42pp
- GOOGL-5.93%-0.29pp
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)
- MU+40.86%
- AMAT+30.30%
- LRCX+29.72%
- AMD+19.62%
- SHOP+12.91%
- AVGO-11.40%
- NFLX-9.54%
- NVDA-7.95%
- WMT-7.93%
- AMZN-6.87%
Other ETFs & indices
Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.