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 | +1.34% | -0.5 | +5pp | +3.12pp | Weakening |
| 1 month | -2.08% | -1.5 | +11pp | +3.67pp | Confirming ↓ |
| 1 quarter | +1.04% | -2.92 | -1pp | +1.12pp | Weakening |
Over the last 126 sessions: price up +19.26%, breadth down (-1.61/name) · % beating 58→54 · median−ETF +2.31pp→+1.48pp.
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 2026-11-10.
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 | 6 (16%) | 14 (37%) | -8 |
| 1-Month | 5 (13%) | 8 (21%) | -3 |
| 3-Month | 4 (11%) | 5 (13%) | -1 |
| 6-Month | 3 (8%) | 2 (5%) | +1 |
| 52-Week | 2 (6%) | 1 (3%) | +1 |
| YTD | 2 (5%) | 1 (3%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.87% | -0.90% | -0.02pp | 8 / 30 | 19 / 19 | 18 of 38 | ±2.21% |
| 5d | +1.34% | +1.03% | -0.31pp | 23 / 15 | 17 / 21 | 9 of 38 | ±13.22% |
| 21d | -2.08% | -0.43% | +1.65pp | 18 / 20 | 22 / 16 | 1 of 38 | ±18.16% |
| YTD | -7.05% | -8.64% | -1.58pp | 13 / 25 | 17 / 21 | 0 of 38 | ±31.49% |
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)
- 0268.HK+4.60%+0.11pp
- 4180.T+4.34%+0.11pp
- DUOL+1.57%+0.04pp
- AMZN+1.48%+0.04pp
- 3994.T+1.31%+0.03pp
- NVDA-5.47%-0.14pp
- TEM-4.62%-0.12pp
- MNDY-4.44%-0.11pp
- HUBS-4.34%-0.11pp
- TEAM-4.07%-0.1pp
This month (21d)
- APP+46.01%+1.15pp
- 4478.T+34.56%+0.86pp
- 3994.T+25.86%+0.65pp
- 0268.HK+21.95%+0.55pp
- TEM+18.46%+0.46pp
- RDDT-38.30%-0.96pp
- NOW-29.01%-0.73pp
- TEAM-28.47%-0.71pp
- NVDA-25.38%-0.63pp
- MELI-21.25%-0.53pp
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)
- APP+46.01%
- 4478.T+34.56%
- 3994.T+25.86%
- 0268.HK+21.95%
- TEM+18.46%
- RDDT-38.30%
- NOW-29.01%
- TEAM-28.47%
- NVDA-25.38%
- MELI-21.25%
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% | 533.16 | -2.20% | +2.34% | -1.48% | +10.50% | 42 |
| AMZN Amazon | 2.50% | 270.87 | +1.48% | +8.05% | +4.37% | +17.35% | 66 |
| GOOGL Alphabet | 2.50% | 287.38 | -0.27% | +2.62% | -18.52% | -8.12% | 18 |
| META Meta | 2.50% | 641.39 | +0.00% | +3.28% | -13.67% | -2.75% | 26 |
| AAPL Apple | 2.50% | 348.51 | -0.62% | +5.00% | +2.21% | +28.31% | 58 |
| NVDA Nvidia | 2.50% | 168.89 | -5.47% | -18.29% | -25.38% | -9.33% | 8 |
| PLTR Palantir | 2.50% | 168.82 | -0.22% | -3.75% | -19.22% | -5.02% | 16 |
| NOW ServiceNow | 2.50% | 99.61 | -3.07% | -8.75% | -29.01% | -34.98% | 3 |
| CRM Salesforce | 2.50% | 213.48 | -0.68% | -3.92% | -8.74% | -19.21% | 37 |
| WDAY Workday | 2.50% | 188.89 | -0.69% | -4.57% | +0.34% | -12.05% | 53 |
| SAP SAP | 2.50% | 233.74 | -1.55% | +1.49% | +7.29% | -3.78% | 71 |
| ORCL Oracle | 2.50% | 117.98 | -1.51% | -6.51% | -14.13% | -39.10% | 24 |
| PATH UiPath | 2.50% | 12.83 | -1.16% | -2.28% | -3.68% | -21.72% | 39 |
| ADBE Adobe | 2.50% | 236.70 | -0.26% | -3.84% | -0.60% | -32.37% | 45 |
| INTU Intuit | 2.50% | 340.44 | +0.65% | -1.24% | +11.26% | -48.35% | 76 |
| VEEV Veeva | 2.50% | 305.55 | -0.28% | +0.77% | +3.28% | +36.88% | 61 |
| CSGP CoStar | 2.50% | 30.33 | -2.91% | -3.16% | +3.83% | -54.89% | 63 |
| IOT Samsara | 2.50% | 41.45 | -1.85% | +0.83% | -0.41% | +16.93% | 50 |
| TEM Tempus AI | 2.50% | 80.54 | -4.62% | +3.52% | +18.46% | +36.39% | 87 |
| HUBS HubSpot | 2.50% | 196.99 | -4.34% | -12.90% | -11.81% | -50.91% | 29 |
| TEAM Atlassian | 2.50% | 148.60 | -4.07% | -22.22% | -28.47% | -8.35% | 5 |
| PTC PTC | 2.50% | 196.55 | +0.35% | +1.28% | +1.11% | +12.82% | 55 |
| DASTY Dassault Systèmes | 2.50% | 28.24 | -2.39% | +1.04% | +14.24% | +2.24% | 79 |
| SIEGY Siemens | 2.50% | 152.67 | -0.46% | +1.67% | -0.45% | +11.34% | 47 |
| 0268.HK Kingdee | 2.50% | 9.56 | +4.60% | +15.61% | +21.95% | -28.10% | 89 |
| 4478.T freee | 2.50% | 4750.00 | -0.52% | +2.26% | +34.56% | +58.07% | 95 |
| 3994.T Money Forward | 2.50% | 7938.00 | +1.31% | +13.40% | +25.86% | +70.05% | 92 |
| 4180.T Appier | 2.50% | 1513.00 | +4.34% | +7.00% | +14.27% | +40.88% | 82 |
| MNDY monday.com | 2.50% | 76.38 | -4.44% | -18.39% | -9.89% | -48.24% | 34 |
| SHOP Shopify | 2.50% | 146.61 | -3.58% | +2.83% | -18.20% | -8.92% | 21 |
| APP AppLovin | 2.50% | 395.51 | -3.53% | +61.10% | +46.01% | -41.30% | 97 |
| RDDT Reddit | 2.50% | 98.67 | -2.10% | +2.62% | -38.30% | -57.08% | 0 |
| DUOL Duolingo | 2.50% | 156.67 | +1.57% | +22.40% | +6.04% | -10.73% | 68 |
| SPOT Spotify | 2.50% | 606.22 | -0.47% | +1.02% | +14.64% | +4.39% | 84 |
| NFLX Netflix | 2.50% | 63.26 | -1.08% | -0.25% | -10.41% | -32.53% | 32 |
| MELI MercadoLibre | 2.50% | 1490.24 | -2.77% | -10.34% | -21.25% | -26.02% | 11 |
| SE Sea Limited | 2.50% | 76.80 | -1.49% | +0.04% | -19.90% | -39.80% | 13 |
| TOST Toast | 2.50% | 34.52 | -0.72% | +2.95% | +10.22% | -2.79% | 74 |
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 2026-11-10: over 21 sessions the fund returned -2.08% while its median constituent returned -0.43% — a dispersion of 18.16 pp; 58% of 38 members beat the fund. Broad decline - breadth is falling with price.
How did AW40's members trade in the last session?
As of 2026-11-10: fund -0.87%, median member -0.90%, 8 advancers vs 30 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 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.