Constituent dispersion · breadth vs the index
AW40 — Agentic Winners 40 (EW)
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 | -0.32% | +0.16 | -33pp | -22.14pp | Improving |
| 1 month | +4.05% | -0.24 | -3pp | -0.61pp | Weakening |
| 1 quarter | +29.45% | +3.63 | -3pp | -2.04pp | Confirming ↑ |
Over the last 126 sessions: price up +25.75%, breadth up (+2.26/name) · % beating 53→42 · median−ETF +1.08pp→-2.44pp.
Stocks above their moving average — participation breadth
Of the 38 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 2026-09-14.
New highs & new lows — by horizon
How many of the 38 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 | 29 (76%) | 3 (8%) | +26 |
| 1-Month | 6 (16%) | 1 (3%) | +5 |
| 3-Month | 2 (5%) | 0 (0%) | +2 |
| 6-Month | 2 (5%) | 0 (0%) | +2 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 2 (5%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +4.04% | +3.87% | -0.18pp | 33 / 5 | 18 / 20 | 10 of 38 | ±3.52% |
| 5d | -0.32% | +0.90% | +1.22pp | 21 / 17 | 21 / 17 | 4 of 38 | ±4.32% |
| 21d | +4.05% | +1.92% | -2.13pp | 22 / 16 | 15 / 23 | 5 of 38 | ±10.69% |
| YTD | -4.63% | -6.66% | -2.03pp | 14 / 24 | 17 / 21 | 1 of 38 | ±23.75% |
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)
- IOT+11.80%+0.3pp
- HUBS+11.22%+0.28pp
- MNDY+10.67%+0.27pp
- NOW+7.41%+0.19pp
- TEAM+7.27%+0.18pp
- ORCL-3.65%-0.09pp
- NVDA-3.36%-0.08pp
- AMZN-1.26%-0.03pp
- SIEGY-1.10%-0.03pp
- 0268.HK-0.66%-0.02pp
This month (21d)
- 4180.T+33.83%+0.85pp
- CRM+28.83%+0.72pp
- 4478.T+18.24%+0.46pp
- TEAM+16.14%+0.4pp
- TEM+14.59%+0.36pp
- SHOP-15.54%-0.39pp
- PATH-12.11%-0.3pp
- SE-11.87%-0.3pp
- PTC-11.20%-0.28pp
- SIEGY-7.52%-0.19pp
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)
- 4180.T+33.83%
- CRM+28.83%
- 4478.T+18.24%
- TEAM+16.14%
- TEM+14.59%
- SHOP-15.54%
- PATH-12.11%
- SE-11.87%
- PTC-11.20%
- SIEGY-7.52%
AW40 — constituent leadership race
$100 in each covered AW40 constituent at 2026-01-07, 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 — 38 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MSFT Microsoft | 2.50% | 505.41 | +1.97% | +1.14% | +1.91% | +4.74% | 47 |
| AMZN Amazon | 2.50% | 253.54 | -1.26% | -1.92% | -4.37% | +9.84% | 29 |
| GOOGL Alphabet | 2.50% | 349.39 | +3.22% | +3.23% | +0.87% | +11.70% | 45 |
| META Meta | 2.50% | 665.60 | +2.71% | +7.92% | +11.87% | +0.92% | 84 |
| AAPL Apple | 2.50% | 333.08 | +0.24% | +4.10% | +9.11% | +22.63% | 76 |
| NVDA Nvidia | 2.50% | 210.96 | -3.36% | -8.32% | -6.36% | +13.25% | 16 |
| PLTR Palantir | 2.50% | 173.31 | +3.64% | -0.59% | -3.18% | -2.50% | 34 |
| NOW ServiceNow | 2.50% | 142.35 | +7.41% | +0.77% | +11.87% | -7.08% | 82 |
| CRM Salesforce | 2.50% | 259.43 | +4.73% | +0.08% | +28.83% | -1.82% | 95 |
| WDAY Workday | 2.50% | 194.21 | +4.58% | -0.81% | -5.93% | -9.58% | 18 |
| SAP SAP | 2.50% | 218.28 | +5.78% | +1.47% | +4.30% | -10.14% | 63 |
| ORCL Oracle | 2.50% | 144.79 | -3.65% | -8.81% | -7.32% | -25.26% | 13 |
| PATH UiPath | 2.50% | 14.66 | +6.62% | -3.49% | -12.11% | -10.56% | 3 |
| ADBE Adobe | 2.50% | 265.60 | +5.30% | -0.34% | -1.81% | -24.11% | 37 |
| INTU Intuit | 2.50% | 339.15 | +5.47% | +1.94% | -5.34% | -48.55% | 24 |
| VEEV Veeva | 2.50% | 265.67 | +1.25% | -3.42% | +5.16% | +19.01% | 71 |
| CSGP CoStar | 2.50% | 31.52 | +3.48% | +1.97% | -4.63% | -53.12% | 26 |
| IOT Samsara | 2.50% | 42.91 | +11.80% | +6.74% | +4.30% | +21.04% | 66 |
| TEM Tempus AI | 2.50% | 62.21 | +5.42% | -3.73% | +14.59% | +5.35% | 87 |
| HUBS HubSpot | 2.50% | 250.61 | +11.22% | +1.22% | +4.20% | -37.55% | 61 |
| TEAM Atlassian | 2.50% | 192.77 | +7.27% | +1.68% | +16.14% | +18.89% | 89 |
| PTC PTC | 2.50% | 136.65 | +4.49% | -3.10% | -11.20% | -21.56% | 8 |
| DASTY Dassault Systèmes | 2.50% | 24.60 | +5.08% | +1.03% | +0.37% | -10.94% | 42 |
| SIEGY Siemens | 2.50% | 151.68 | -1.10% | -4.08% | -7.52% | +10.62% | 11 |
| 0268.HK Kingdee | 2.50% | 7.52 | -0.66% | -10.21% | -4.20% | -43.42% | 32 |
| 4478.T freee | 2.50% | 3955.00 | +2.73% | +3.53% | +18.24% | +31.61% | 92 |
| 3994.T Money Forward | 2.50% | 6365.00 | +7.14% | +2.31% | -1.76% | +36.35% | 39 |
| 4180.T Appier | 2.50% | 1515.00 | +6.69% | +4.34% | +33.83% | +41.06% | 97 |
| MNDY monday.com | 2.50% | 96.11 | +10.67% | +5.53% | +1.92% | -34.87% | 50 |
| SHOP Shopify | 2.50% | 133.89 | +3.96% | -7.72% | -15.54% | -16.82% | 0 |
| APP AppLovin | 2.50% | 334.24 | +3.17% | +4.27% | +6.90% | -50.40% | 74 |
| RDDT Reddit | 2.50% | 162.38 | +2.92% | +5.13% | +2.69% | -29.36% | 55 |
| DUOL Duolingo | 2.50% | 151.14 | +5.19% | -2.15% | +4.89% | -13.88% | 68 |
| SPOT Spotify | 2.50% | 556.31 | +5.81% | +2.56% | +11.66% | -4.20% | 79 |
| NFLX Netflix | 2.50% | 80.32 | +3.77% | +2.65% | +2.66% | -14.33% | 53 |
| MELI MercadoLibre | 2.50% | 1900.24 | +0.15% | -3.95% | +3.94% | -5.66% | 58 |
| SE Sea Limited | 2.50% | 108.68 | +2.30% | -3.04% | -11.87% | -14.81% | 5 |
| TOST Toast | 2.50% | 33.29 | +3.64% | -1.94% | -5.48% | -6.25% | 21 |
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
AW40 dispersion — data Q&A
Is AW40's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned +4.05% while its median constituent returned +1.92% — a dispersion of 10.69 pp; 39% of 38 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did AW40's members trade in the last session?
As of 2026-09-14: fund +4.04%, median member +3.87%, 33 advancers vs 5 decliners.
What does the dispersion page for AW40 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. 38 constituents covered, re-baked nightly from the Closelook lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.