Constituent dispersion · breadth vs the index
IGV — iShares Expanded Tech-Software
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 | +1.98% | -0.61 | -5pp | -0.43pp | Weakening |
| 1 month | +0.34% | -1.58 | -15pp | -3.43pp | Weakening |
| 1 quarter | +17.60% | +2.62 | -21pp | -8.48pp | Confirming ↑ |
Over the last 126 sessions: price up +25.56%, breadth up (+5.31/name) · % beating 36→38 · median−ETF -3.95pp→-2.34pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +5.04% | +4.19% | -0.86pp | 90 / 18 | 44 / 66 | 21 of 110 | ±5.4% |
| 5d | +1.98% | -0.12% | -2.10pp | 52 / 56 | 32 / 78 | 17 of 110 | ±6.37% |
| 21d | +0.34% | -1.85% | -2.18pp | 43 / 67 | 43 / 67 | 3 of 110 | ±11.69% |
| YTD | +0.92% | -4.07% | -4.99pp | 49 / 61 | 48 / 62 | 2 of 110 | ±37.9% |
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)
- PANW+13.09%+0.98pp
- CRWD+13.85%+0.84pp
- CRM+4.73%+0.29pp
- FTNT+9.04%+0.27pp
- NOW+7.41%+0.27pp
- ORCL-3.65%-0.34pp
- SNPS-4.01%-0.14pp
- CDNS-3.56%-0.13pp
- HUT-7.58%-0.03pp
- WULF-7.59%-0.02pp
This month (21d)
- CRM+28.83%+1.74pp
- MSTR+41.03%+0.79pp
- NOW+11.87%+0.43pp
- APP+6.90%+0.33pp
- CRWD+4.37%+0.26pp
- ORCL-7.32%-0.67pp
- CDNS-13.81%-0.5pp
- PANW-5.57%-0.42pp
- SNPS-7.36%-0.26pp
- DDOG-8.80%-0.23pp
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)
- MSTR+41.03%
- BMNR+40.84%
- CRCL+29.24%
- CRM+28.83%
- MARA+24.86%
- TTAN-37.04%
- NN-20.35%
- QBTS-19.47%
- CXM-17.64%
- GWRE-16.22%
IGV — constituent leadership race
$100 in each covered IGV 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 — 110 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ORCL Oracle Corp | 9.21% | 144.79 | -3.65% | -8.81% | -7.32% | -25.26% | 25 |
| MSFT Microsoft Corp | 8.19% | 505.41 | +1.97% | +1.14% | +1.91% | +4.74% | 63 |
| PANW Palo Alto Networks | 7.49% | 373.94 | +13.09% | +12.21% | -5.57% | +103.01% | 32 |
| PLTR Palantir Technologies Cl A | 7.18% | 173.31 | +3.64% | -0.59% | -3.18% | -2.50% | 45 |
| CRWD Crowdstrike Holdings | 6.06% | 235.38 | +13.85% | +10.46% | +4.37% | +100.85% | 74 |
| CRM Salesforce Inc | 6.05% | 259.43 | +4.73% | +0.08% | +28.83% | -1.82% | 96 |
| APP Applovin Corp Cl A | 4.82% | 334.24 | +3.17% | +4.27% | +6.90% | -50.40% | 81 |
| ADBE Adobe Systems Inc | 3.71% | 265.60 | +5.30% | -0.34% | -1.81% | -24.11% | 50 |
| CDNS Cadence Design Sys | 3.62% | 279.06 | -3.56% | -4.66% | -13.81% | -10.72% | 7 |
| NOW Servicenow Inc | 3.61% | 142.35 | +7.41% | +0.77% | +11.87% | -7.08% | 89 |
| SNPS Synopsys Inc | 3.57% | 381.43 | -4.01% | -3.15% | -7.36% | -18.80% | 25 |
| FTNT Fortinet Inc | 3.03% | 170.18 | +9.04% | +8.89% | +2.87% | +114.31% | 65 |
| INTU Intuit Inc | 2.92% | 339.15 | +5.47% | +1.94% | -5.34% | -48.55% | 34 |
| DDOG Datadog Inc Cl A | 2.65% | 230.05 | +4.00% | +8.04% | -8.80% | +69.17% | 19 |
| MSTR Strategy Inc | 1.92% | 136.94 | +4.56% | -4.10% | +41.03% | -9.88% | 99 |
| ADSK Autodesk Inc | 1.89% | 228.93 | +7.78% | +5.06% | -11.25% | -22.66% | 15 |
| EA Electronic Arts Inc | 1.69% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 65 |
| TTWO Take-Two Interactive | 1.54% | 222.91 | +3.45% | +3.83% | -7.85% | -12.94% | 21 |
| ROP Roper Industries | 1.28% | 394.61 | +1.57% | -3.11% | -0.73% | -10.94% | 56 |
| FICO Fair Isaac and Company | 1.08% | 1001.50 | +1.63% | +7.43% | -9.83% | -40.76% | 17 |
| WDAY Workday Inc | 0.96% | 194.21 | +4.58% | -0.81% | -5.93% | -9.58% | 30 |
| ZM Zoom Communications Inc | 0.95% | 95.36 | -0.22% | -5.89% | -13.18% | +10.51% | 11 |
| ZS Zscaler Inc | 0.65% | 191.73 | +16.52% | +12.92% | +1.89% | -14.76% | 62 |
| PTC Ptc Inc | 0.64% | 136.65 | +4.49% | -3.10% | -11.20% | -21.56% | 16 |
| TEAM Atlassian Corp | 0.52% | 192.77 | +7.27% | +1.68% | +16.14% | +18.89% | 94 |
| GEN Gen Digital Inc | 0.51% | 31.41 | +3.80% | +2.48% | +6.69% | +16.76% | 79 |
| TRMB Trimble Navigation | 0.49% | 58.74 | +1.87% | -1.23% | +2.09% | -25.03% | 64 |
| TYL Tyler Technologies | 0.49% | 359.54 | +6.79% | -1.23% | +9.30% | -20.80% | 85 |
| NTNX Nutanix Inc | 0.45% | 67.69 | +2.69% | -0.54% | -0.38% | +30.95% | 59 |
| DT Dynatrace Inc | 0.43% | 53.34 | +4.44% | +2.77% | +5.10% | +23.07% | 76 |
| GWRE Guidewire Software Inc | 0.43% | 153.00 | +8.57% | -5.80% | -16.22% | -23.88% | 4 |
| IOT Samsara Inc Cl A | 0.40% | 42.91 | +11.80% | +6.74% | +4.30% | +21.04% | 73 |
| HUBS Hubspot Inc | 0.39% | 250.61 | +11.22% | +1.22% | +4.20% | -37.55% | 72 |
| HUT Hut 8 Corp | 0.38% | 91.13 | -7.58% | -2.58% | +9.86% | +98.37% | 87 |
| RBRK Rubrik Inc Cl A | 0.37% | 100.20 | +15.64% | +6.97% | -4.65% | +31.01% | 40 |
| DOCU Docusign Inc | 0.36% | 69.76 | +6.26% | +1.97% | +8.85% | +1.99% | 84 |
| QBTS D-Wave Quantum Inc | 0.35% | 16.83 | +0.18% | +1.51% | -19.47% | -35.64% | 2 |
| BMNR Bitmine Immersion Technologies | 0.33% | 25.76 | +2.92% | +3.16% | +40.84% | -5.12% | 98 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 6.46 | +0.47% | +1.89% | -5.56% | +68.23% | 33 |
| U Unity Software Inc | 0.33% | 43.45 | -1.16% | +4.30% | -5.11% | -1.63% | 37 |
| WULF Terawulf Inc | 0.32% | 15.47 | -7.59% | -6.30% | -5.15% | +34.64% | 36 |
| MANH Manhattan Assoc | 0.30% | 211.54 | +4.82% | -1.04% | +5.29% | +22.06% | 77 |
| RIOT Riot Platforms Inc | 0.29% | 20.95 | -2.42% | -3.90% | +9.06% | +65.35% | 85 |
| CORZ Core Scientific Inc | 0.29% | 16.96 | -5.46% | -5.20% | -14.26% | +16.48% | 5 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.56 | +0.00% | +0.00% | +0.74% | +1.82% | 61 |
| IDCC Interdigital Inc | 0.25% | 340.38 | -2.78% | +0.72% | -1.07% | +7.39% | 54 |
| CIFR Cipher Digital Inc | 0.23% | 15.64 | -7.21% | -11.87% | -5.93% | +5.93% | 31 |
| SNAP Snap Inc | 0.23% | 5.84 | +2.82% | +6.76% | +10.19% | -27.63% | 88 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 97.42 | +7.53% | -4.54% | +29.24% | +22.85% | 97 |
| DSGX Descartes Sys Group | 0.23% | 80.02 | +5.23% | +1.37% | +3.60% | -8.72% | 68 |
| S Sentinelone Inc Cl A | 0.22% | 22.61 | +14.48% | +13.73% | -5.16% | +50.73% | 35 |
| OTEX Open Text Corp | 0.22% | 23.95 | +3.86% | +0.00% | -3.74% | -24.82% | 42 |
| PCOR Procore Technologies Inc | 0.21% | 56.74 | +6.53% | -2.19% | -8.73% | -22.00% | 20 |
| YOU Clear Secure Inc Cl A | 0.20% | 42.24 | +0.02% | -4.38% | -7.51% | +21.14% | 23 |
| MARA Mara Holdings Inc | 0.19% | 11.50 | -4.01% | +1.68% | +24.86% | +28.06% | 95 |
| ESTC Elastic N.V. | 0.18% | 85.11 | +2.06% | -7.30% | -1.07% | +12.82% | 55 |
| BSY Bentley Systems Inc Cl B | 0.18% | 31.70 | +2.36% | -5.96% | -13.29% | -16.63% | 10 |
| DBX Dropbox Inc | 0.18% | 37.31 | +4.92% | +7.12% | +3.84% | +34.21% | 71 |
| CVLT Commvault Systems | 0.17% | 140.21 | +7.80% | +2.79% | -7.21% | +11.85% | 26 |
| PATH Uipath Inc Cl A | 0.17% | 14.66 | +6.62% | -3.49% | -12.11% | -10.56% | 13 |
| ACIW Aci Worldwide Inc | 0.16% | 52.65 | +1.08% | -0.57% | -1.88% | +10.12% | 49 |
| CLSK Cleanspark Inc | 0.15% | 13.27 | -2.93% | +4.57% | +15.19% | +31.13% | 92 |
| APPF Appfolio Cl A | 0.15% | 221.87 | +6.42% | +3.54% | +8.78% | -4.63% | 83 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 31.01 | +2.75% | -1.08% | +4.69% | +52.38% | 75 |
| GTLB Gitlab Inc Cl A | 0.13% | 49.25 | +4.81% | -1.16% | +13.61% | +31.23% | 91 |
| BOX Box Inc | 0.13% | 34.86 | +3.29% | -0.94% | +3.63% | +16.55% | 70 |
| BB Blackberry Ltd | 0.13% | 7.75 | +1.04% | +0.65% | -13.79% | +104.49% | 8 |
| VRNS Varonis Systems Inc | 0.13% | 47.48 | +5.23% | +3.02% | +3.62% | +44.76% | 69 |
| QLYS Qualys Inc | 0.13% | 172.91 | +15.06% | +0.73% | -11.73% | +30.11% | 15 |
| TTAN Servicetitan Inc Cl A | 0.13% | 58.99 | +7.88% | -32.90% | -37.04% | -44.61% | 0 |
| DLB Dolby Laboratories | 0.12% | 61.91 | -3.99% | -0.08% | -0.74% | -2.46% | 55 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 6.47 | +3.35% | -4.01% | -13.50% | -35.11% | 9 |
| BILL Bill Holdings Inc | 0.12% | 49.67 | +5.12% | +1.04% | -3.20% | -8.93% | 45 |
| RNG Ringcentral Inc | 0.12% | 72.32 | +4.93% | -1.46% | +6.70% | +151.25% | 80 |
| LIF Life360 Inc | 0.12% | 44.28 | +3.75% | +0.25% | -11.88% | -30.96% | 14 |
| PEGA Pegasystems Inc | 0.12% | 38.71 | +6.82% | +3.61% | +15.88% | -35.10% | 93 |
| TDC Teradata Corp | 0.11% | 29.37 | +5.50% | +4.71% | +6.30% | -3.52% | 78 |
| TENB Tenable Holdings Inc | 0.11% | 35.08 | +16.51% | +2.42% | -12.37% | +49.09% | 12 |
| ADEA Adeia Inc | 0.11% | 24.66 | -7.68% | -6.94% | -14.05% | +43.52% | 6 |
| QTWO Q2 Holdings Inc | 0.11% | 61.95 | +1.74% | -0.29% | -6.45% | -14.15% | 28 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 6.76 | -1.89% | -9.99% | -5.06% | -14.97% | 38 |
| WK Workiva Llc | 0.10% | 75.89 | +5.61% | -0.86% | +2.90% | -12.01% | 66 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.65 | +0.13% | -0.26% | -0.71% | +28.19% | 58 |
| BRZE Braze Inc Cl A | 0.08% | 25.60 | +6.93% | -19.90% | -14.30% | -25.34% | 5 |
| ALRM Alarm.com | 0.08% | 55.39 | +0.05% | -1.93% | -0.72% | +8.57% | 57 |
| KVYO Klaviyo Inc Series A | 0.08% | 17.40 | +6.36% | -6.50% | -9.47% | -46.41% | 18 |
| AGYS Agilysys Inc | 0.08% | 109.07 | +4.38% | -2.06% | -5.32% | -8.22% | 35 |
| SPSC Sps Commerce Inc | 0.07% | 83.03 | +0.42% | +0.04% | +4.61% | -6.84% | 75 |
| ATEN A10 Networks Inc | 0.07% | 25.61 | +3.52% | +4.15% | -4.94% | +45.51% | 39 |
| NN Nextnav Inc | 0.07% | 15.54 | +2.37% | +2.37% | -20.35% | -6.61% | 1 |
| FRSH Freshworks Inc Cl A | 0.07% | 12.64 | +6.31% | -0.71% | -0.32% | +3.18% | 60 |
| FIVN Five9 Inc | 0.06% | 31.75 | +3.56% | -4.57% | -6.07% | +58.35% | 29 |
| NCNO Ncino Inc | 0.06% | 22.18 | +4.38% | -4.07% | +7.36% | -13.49% | 82 |
| AVPT Avepoint Inc Cl A | 0.05% | 13.60 | +7.42% | +1.27% | -1.09% | -2.09% | 53 |
| BL Blackline Inc | 0.05% | 30.29 | +6.84% | -7.40% | -3.41% | -45.22% | 44 |
| ALKT Alkami Technology Inc | 0.05% | 19.88 | -3.07% | +0.96% | -4.33% | -13.83% | 41 |
| PRGS Progress Software | 0.04% | 43.13 | +8.04% | -2.09% | -3.58% | +0.40% | 43 |
| AI C3.Ai Inc Cl A | 0.04% | 11.17 | +5.98% | +6.79% | +9.72% | -17.14% | 86 |
| INTA Intapp Inc | 0.04% | 37.98 | +2.01% | -8.94% | -7.41% | -17.11% | 24 |
| BLKB Blackbaud Inc | 0.04% | 45.67 | +0.42% | -3.04% | -1.17% | -27.87% | 52 |
| LSPD Lightspeed Commerce Inc | 0.04% | 10.11 | +1.71% | -3.81% | -7.76% | -16.31% | 22 |
| VERX Vertex Inc Cl A | 0.04% | 13.09 | +6.77% | -4.94% | -1.21% | -34.45% | 51 |
| VYX NCR Voyix Corporation | 0.03% | 8.26 | -3.39% | -9.63% | -2.71% | -19.02% | 47 |
| APPN Appian Corp Cl A | 0.03% | 38.31 | +10.21% | -0.16% | +3.51% | +8.16% | 67 |
| PD Pagerduty Inc | 0.02% | 14.84 | +5.32% | +8.96% | +22.75% | +13.20% | 95 |
| CXM Sprinklr Inc Cl A | 0.02% | 5.79 | +5.66% | -2.03% | -17.64% | -25.58% | 3 |
| ASAN Asana Inc Cl A | 0.02% | 9.66 | +10.15% | +9.65% | -2.13% | -29.54% | 48 |
| PAR Par Technology Corp | 0.02% | 18.09 | +0.50% | -8.50% | -2.79% | -50.14% | 46 |
| RPD Rapid7 Inc | 0.02% | 12.79 | +24.05% | +16.27% | -7.18% | -15.86% | 27 |
| NABL N-Able Inc | 0.01% | 4.17 | +8.03% | +2.71% | +13.32% | -44.25% | 90 |
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
IGV dispersion — data Q&A
Is IGV's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned +0.34% while its median constituent returned -1.85% — a dispersion of 11.69 pp; 39% of 110 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did IGV's members trade in the last session?
As of 2026-09-14: fund +5.04%, median member +4.19%, 90 advancers vs 18 decliners.
What does the dispersion page for IGV 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. 110 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.