Constituent dispersion · breadth vs the index
CIBR — First Trust Nasdaq Cybersecurity
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 | +5.77% | -0.02 | -3pp | -0.83pp | Weakening |
| 1 month | -2.10% | -3.1 | -3pp | -0.19pp | Confirming ↓ |
| 1 quarter | +17.25% | +1.02 | -5pp | -2.54pp | Confirming ↑ |
Over the last 126 sessions: price up +55.38%, breadth up (+7.22/name) · % beating 46→46 · median−ETF -0.97pp→-0.90pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +5.99% | +4.09% | -1.89pp | 34 / 7 | 14 / 27 | 5 of 41 | ±5.88% |
| 5d | +5.77% | +2.96% | -2.81pp | 34 / 7 | 13 / 28 | 3 of 41 | ±5.79% |
| 21d | -2.10% | -3.01% | -0.90pp | 15 / 26 | 19 / 22 | 2 of 41 | ±8% |
| YTD | +40.27% | +30.56% | -9.71pp | 30 / 10 | 17 / 23 | 0 of 40 | ±42.78% |
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)
- CRWD+13.85%+1.46pp
- PANW+13.09%+1.34pp
- FTNT+9.04%+0.85pp
- ZS+16.52%+0.4pp
- OKTA+11.98%+0.35pp
- AVGO-4.77%-0.34pp
- CSCO-1.85%-0.16pp
- NTAP-5.52%-0.14pp
- ANET-5.90%-0.1pp
- AKAM-1.14%-0.04pp
This month (21d)
- OKTA+20.33%+0.6pp
- CRWD+4.37%+0.46pp
- FTNT+2.87%+0.27pp
- GEN+6.69%+0.15pp
- ACN+9.25%+0.11pp
- AVGO-17.50%-1.25pp
- PANW-5.57%-0.57pp
- AKAM-15.74%-0.56pp
- CSCO-3.01%-0.27pp
- DDOG-8.80%-0.26pp
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)
- OKTA+20.33%
- ACN+9.25%
- GEN+6.69%
- DT+5.10%
- IBM+5.04%
- AVGO-17.50%
- FSLY-17.19%
- AKAM-15.74%
- HO.FP-14.79%
- ATO.FP-14.55%
CIBR — constituent leadership race
$100 in each covered CIBR 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 — 41 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CRWD Crowdstrike Holdings | 10.55% | 235.38 | +13.85% | +10.46% | +4.37% | +100.85% | 85 |
| PANW Palo Alto Networks | 10.24% | 373.94 | +13.09% | +12.21% | -5.57% | +103.01% | 37 |
| FTNT Fortinet Inc | 9.41% | 170.18 | +9.04% | +8.89% | +2.87% | +114.31% | 76 |
| CSCO Cisco Systems Inc | 8.93% | 110.06 | -1.85% | +0.79% | -3.01% | +44.42% | 49 |
| AVGO Broadcom Ltd | 7.16% | 344.72 | -4.77% | -3.68% | -17.50% | -0.19% | 0 |
| NET Cloudflare Inc Cl A | 4.26% | 330.36 | +7.77% | +18.44% | -0.14% | +67.57% | 61 |
| AKAM Akamai Technologies | 3.54% | 105.57 | -1.14% | +0.33% | -15.74% | +21.00% | 5 |
| FFIV F5 Inc | 3.03% | 411.49 | -0.05% | +5.38% | -1.08% | +61.20% | 54 |
| DDOG Datadog Inc Cl A | 2.97% | 230.05 | +4.00% | +8.04% | -8.80% | +69.17% | 20 |
| OKTA Okta Inc Cl A | 2.94% | 186.45 | +11.98% | +9.29% | +20.33% | +115.62% | 98 |
| NTAP Netapp Inc | 2.46% | 188.28 | -5.52% | +1.45% | -8.15% | +77.57% | 22 |
| ZS Zscaler Inc | 2.44% | 191.73 | +16.52% | +12.92% | +1.89% | -14.76% | 68 |
| GEN Gen Digital Inc | 2.23% | 31.41 | +3.80% | +2.48% | +6.69% | +16.76% | 93 |
| CHKP Check Point Software | 2.11% | 138.50 | +5.21% | +1.05% | +3.18% | -25.36% | 78 |
| RBRK Rubrik Inc Cl A | 1.90% | 100.20 | +15.64% | +6.97% | -4.65% | +31.01% | 44 |
| FROG Jfrog Ltd | 1.81% | 93.00 | +6.68% | +6.16% | -2.26% | +48.90% | 51 |
| IBM Intl Business Machines | 1.71% | 249.09 | +2.38% | +6.05% | +5.04% | -15.43% | 88 |
| ANET Arista Networks Inc | 1.70% | 187.81 | -5.90% | -3.08% | -7.76% | +43.33% | 24 |
| DT Dynatrace Inc | 1.64% | 53.34 | +4.44% | +2.77% | +5.10% | +23.07% | 90 |
| GOOGL Alphabet Cl A | 1.63% | 349.39 | +3.22% | +3.23% | +0.87% | +11.70% | 63 |
| MSFT Microsoft Corp | 1.49% | 505.41 | +1.97% | +1.14% | +1.91% | +4.74% | 71 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 79.11 | +4.23% | +8.67% | +1.67% | -5.51% | 66 |
| HO.FP Thales | 1.21% | 230.40 | +1.59% | -0.48% | -14.79% | +0.26% | 7 |
| INFY Infosys Ltd ADR | 1.19% | 11.60 | +4.79% | -0.85% | -6.53% | -33.50% | 32 |
| ACN Accenture Plc | 1.17% | 195.00 | +6.04% | +4.43% | +9.25% | -26.28% | 95 |
| BB Blackberry Ltd | 1.10% | 7.75 | +1.04% | +0.65% | -13.79% | +104.49% | 12 |
| LDOS Leidos Holdings Inc | 0.97% | 132.83 | +3.08% | -0.17% | -6.86% | -26.19% | 29 |
| ESTC Elastic N.V. | 0.94% | 85.11 | +2.06% | -7.30% | -1.07% | +12.82% | 56 |
| OTEX.TO Open Text Corporation | 0.93% | 33.31 | +4.09% | +0.57% | -3.84% | -23.79% | 46 |
| S Sentinelone Inc Cl A | 0.88% | 22.61 | +14.48% | +13.73% | -5.16% | +50.73% | 39 |
| SAIC Science Applications International | 0.81% | 132.01 | +1.62% | +4.15% | +4.22% | +32.09% | 83 |
| CVLT Commvault Systems | 0.77% | 140.21 | +7.80% | +2.79% | -7.21% | +11.85% | 27 |
| VRNS Varonis Systems Inc | 0.60% | 47.48 | +5.23% | +3.02% | +3.62% | +44.76% | 80 |
| QLYS Qualys Inc | 0.57% | 172.91 | +15.06% | +0.73% | -11.73% | +30.11% | 17 |
| TENB Tenable Holdings Inc | 0.50% | 35.08 | +16.51% | +2.42% | -12.37% | +49.09% | 15 |
| FSLY Fastly Inc | 0.47% | 24.86 | +7.34% | +20.74% | -17.19% | — | 2 |
| NTCT Netscout Systems | 0.43% | 37.37 | -1.79% | +0.40% | -5.92% | +38.10% | 34 |
| ATEN A10 Networks Inc | 0.30% | 25.61 | +3.52% | +4.15% | -4.94% | +45.51% | 41 |
| ZD Ziff Davis Inc | 0.26% | 57.35 | +2.01% | +2.96% | +2.58% | +63.16% | 73 |
| RDWR Radware Ltd | 0.19% | 29.50 | +5.73% | +4.31% | -0.61% | +22.46% | 59 |
| ATO.FP Atos Se | 0.16% | 25.26 | +1.77% | -3.66% | -14.55% | -49.65% | 10 |
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
CIBR dispersion — data Q&A
Is CIBR's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -2.10% while its median constituent returned -3.01% — a dispersion of 8.00 pp; 46% of 41 members beat the fund. Broad decline - breadth is falling with price.
How did CIBR's members trade in the last session?
As of 2026-09-14: fund +5.99%, median member +4.09%, 34 advancers vs 7 decliners.
What does the dispersion page for CIBR 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. 41 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.