Constituent dispersion · breadth vs the index
MXI — Global Materials
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 | +2.86% | +0.53 | +5pp | -0.65pp | Confirming ↑ |
| 1 month | +0.46% | +0.92 | +15pp | +4.13pp | Improving |
| 1 quarter | -3.09% | -1.63 | +11pp | +3.41pp | Confirming ↓ |
Over the last 126 sessions: price down -4.06%, breadth down (-0.57/name) · % beating 40→64 · median−ETF -2.39pp→+4.11pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.43% | -0.47% | +0.96pp | 20 / 38 | 42 / 18 | 20 of 60 | ±1.94% |
| 5d | +2.86% | +2.17% | -0.69pp | 46 / 14 | 24 / 36 | 13 of 60 | ±5.63% |
| 21d | +0.46% | +2.40% | +1.94pp | 36 / 23 | 36 / 23 | 2 of 59 | ±10.79% |
| YTD | +14.15% | +16.36% | +2.20pp | 40 / 16 | 29 / 27 | 0 of 56 | ±19.7% |
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)
- NUE+2.90%+0.05pp
- STLD+3.76%+0.04pp
- LIN+0.28%+0.02pp
- BOL.ST+3.26%+0.02pp
- CF+2.58%+0.02pp
- NEM-4.15%-0.16pp
- AEM-5.15%-0.15pp
- BHP-2.10%-0.15pp
- WPM-5.09%-0.1pp
- FCX-3.24%-0.1pp
This month (21d)
- LIN+7.06%+0.56pp
- CRH+19.51%+0.43pp
- HOLN.SW+17.30%+0.26pp
- SHW+10.97%+0.26pp
- AAL+11.81%+0.23pp
- FCX-17.53%-0.52pp
- BHP-6.46%-0.45pp
- RIO-11.49%-0.42pp
- GLEN.LSE-13.93%-0.34pp
- VALE-14.35%-0.28pp
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)
- MOS+21.96%
- DD+21.26%
- PPG+19.97%
- CRH+19.51%
- HOLN.SW+17.30%
- SCCO-18.37%
- FCX-17.53%
- ANTO.LSE-14.89%
- VALE-14.35%
- GLEN.LSE-13.93%
MXI — constituent leadership race
$100 in each covered MXI constituent at 2026-01-06, 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 — 60 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 7.90% | 521.78 | +0.28% | +2.00% | +7.06% | +22.78% | 61 |
| BHP Bhp Billiton Ltd ADR | 7.04% | 81.12 | -2.10% | +3.83% | -6.46% | +37.02% | 22 |
| AI C3.Ai Inc Cl A | 3.96% | 11.84 | -1.33% | +2.60% | +1.98% | -12.17% | 46 |
| NEM Newmont Mining Corp | 3.89% | 119.96 | -4.15% | +11.62% | +2.40% | +20.66% | 49 |
| RIO Rio Tinto Plc ADR | 3.65% | 6323.00 | -1.45% | +4.03% | -11.49% | +8.37% | 10 |
| FCX Freeport-Mcmoran Inc | 2.94% | 60.31 | -3.24% | -2.36% | -17.53% | +19.30% | 2 |
| AEM Agnico-Eagle Mines Ltd | 2.93% | 190.46 | -5.15% | +13.86% | +1.21% | +13.07% | 41 |
| GLEN.LSE GLENCORE PLC | 2.41% | 504.60 | -2.10% | +0.06% | -13.93% | +24.13% | 7 |
| SHW Sherwin-Williams Company | 2.35% | 355.34 | -0.72% | +4.25% | +10.97% | +9.91% | 75 |
| CRH CRH Plc ADR | 2.23% | 96.86 | -0.89% | +3.56% | +19.51% | -21.83% | 93 |
| APD Air Products and Chemicals | 2.13% | 312.25 | +0.38% | -0.23% | +10.00% | +28.13% | 69 |
| ECL Ecolab Inc | 2.10% | 306.03 | -0.23% | +0.44% | +7.64% | +16.89% | 63 |
| AAL American Airlines Gp | 1.97% | 14.11 | -0.35% | +10.06% | +11.81% | -7.96% | 78 |
| VALE Vale S.A. ADR | 1.94% | 11.58 | -3.26% | +5.46% | -14.35% | -8.59% | 5 |
| WPM Wheaton Precious Metals | 1.90% | 136.62 | -5.09% | +16.35% | -1.08% | +16.77% | 37 |
| CTVA Corteva Inc | 1.75% | 12.17 | +0.50% | +2.44% | -8.50% | — | 20 |
| NUE Nucor Corp | 1.70% | 256.47 | +2.90% | -6.24% | +1.84% | +57.77% | 42 |
| RIO Rio Tinto Plc ADR | 1.58% | 6323.00 | -1.45% | +4.03% | -11.49% | +8.37% | 10 |
| HOLN.SW HOLCIM LTD AG | 1.52% | 75.38 | +0.94% | +5.90% | +17.30% | -0.73% | 92 |
| FNV Franco Nev Corp | 1.43% | 255.79 | -2.91% | +13.19% | +4.09% | +23.87% | 51 |
| VMC Vulcan Materials Company | 1.14% | 287.31 | -0.74% | +1.14% | +17.20% | +1.12% | 90 |
| K Kellanova | 1.13% | 83.44 | +0.00% | +0.35% | — | — | — |
| NTR Nutrien Ltd | 1.11% | 72.17 | -0.17% | +4.11% | +6.13% | +18.85% | 54 |
| MLM Martin Marietta Materials | 1.07% | 528.21 | -0.52% | -2.86% | +10.69% | -14.94% | 73 |
| STLD Steel Dynamics Inc | 1.05% | 236.12 | +3.76% | -4.66% | -1.26% | +39.78% | 36 |
| SIKA.XETRA SIKA AG | 0.96% | 210.80 | +1.54% | +5.93% | +16.37% | +23.48% | 88 |
| GIVN.SW GIVAUDAN SA | 0.95% | 4048.00 | -0.42% | +2.48% | +16.06% | +32.23% | 85 |
| DOW Dow Inc | 0.85% | 31.48 | +1.68% | -6.84% | +11.95% | +37.63% | 80 |
| HEI Heico Corp | 0.83% | 345.09 | +0.69% | +2.18% | +16.16% | +6.68% | 86 |
| PPG PPG Industries | 0.79% | 124.42 | -0.12% | +3.23% | +19.97% | +22.93% | 95 |
| DSFIR.SW DSM FIRMENICH AG | 0.68% | 97.25 | -1.22% | +0.36% | +4.57% | — | 53 |
| ALB Albemarle Corp | 0.66% | 94.93 | -4.23% | +5.26% | -3.63% | -32.72% | 25 |
| SW Smurfit Westrock Plc | 0.65% | 44.36 | +0.38% | +2.16% | +8.01% | +17.05% | 64 |
| DD Dupont Denemours Inc | 0.63% | 156.88 | +1.12% | +2.23% | +21.26% | +31.12% | 97 |
| IFF International Flavors & Fragrances | 0.63% | 83.17 | -1.49% | -9.77% | -2.11% | +24.14% | 32 |
| PKG Packaging Corp of America | 0.63% | 254.23 | -0.07% | -0.28% | +11.59% | +24.00% | 76 |
| CF Cf Industries Holdings | 0.63% | 122.36 | +2.58% | +4.75% | +6.79% | +59.70% | 59 |
| ANTO.LSE ANTOFAGASTA PLC | 0.59% | 3234.00 | -2.15% | +3.06% | -14.89% | -1.36% | 3 |
| LYB Lyondellbasell Industries NV | 0.59% | 60.60 | +1.85% | -8.31% | +2.00% | +43.13% | 47 |
| AMCR Amcor Plc | 0.58% | 45.19 | +0.11% | -3.77% | +8.68% | — | 66 |
| IP International Paper Company | 0.55% | 35.13 | -1.13% | +0.03% | +10.68% | -8.58% | 71 |
| BOL.ST BOLIDEN | 0.53% | 519.80 | +3.26% | +0.74% | -4.83% | +3.17% | 24 |
| NHY.OL NORSK HYDRO | 0.51% | 69.46 | -1.22% | +6.34% | -10.95% | -8.60% | 17 |
| UPM.HE UPM-KYMMENE | 0.51% | 21.77 | -3.07% | -2.73% | -11.03% | -9.66% | 15 |
| BALL Ball Corporation | 0.49% | 66.79 | -0.03% | +5.66% | +12.84% | +26.93% | 83 |
| SCCO Southern Copper Corp | 0.49% | 170.36 | -3.22% | -1.80% | -18.37% | +22.12% | 0 |
| S32.LSE SOUTH32 LTD | 0.44% | 232.60 | -2.19% | +4.12% | -11.22% | +33.02% | 14 |
| AVY Avery Dennison Corp | 0.41% | 189.04 | +0.53% | +1.97% | +12.76% | +5.12% | 81 |
| SQM Sociedad Quimica Y Minera S.A. ADR | 0.37% | 54.43 | -4.00% | +1.34% | -12.87% | -20.31% | 8 |
| AKZA.AS AKZO NOBEL NV | 0.33% | 63.76 | -0.34% | +4.25% | +9.97% | +10.97% | 68 |
| YAR.OL YARA INTERNATIONAL | 0.31% | 403.50 | -1.99% | +4.08% | +0.77% | -2.54% | 39 |
| STERV.HE STORA ENSO CLASS R | 0.23% | 9.56 | -0.99% | +1.70% | -2.19% | -9.53% | 31 |
| MOS Mosaic Company | 0.23% | 22.99 | +0.97% | +24.81% | +21.96% | -2.78% | 98 |
| SCA-B.ST SVENSKA CELLULOSA B | 0.20% | 121.85 | -0.73% | +1.50% | +1.88% | +2.19% | 44 |
| GGB Gerdau S.A. ADR | 0.20% | 4.63 | +1.09% | -0.64% | -9.92% | +28.45% | 19 |
| CRDA.LSE CRODA INTERNATIONAL PLC | 0.18% | 3641.00 | +0.52% | +0.14% | +6.56% | +38.00% | 58 |
| SYENS.BR SYENSQO NV | 0.17% | 77.35 | +0.00% | +0.72% | -2.64% | +15.95% | 27 |
| JMAT.LSE JOHNSON MATTHEY PLC | 0.16% | 2400.00 | -0.83% | -1.23% | -2.36% | +3.44% | 29 |
| AKE.PA ARKEMA SA | 0.15% | 57.85 | +0.96% | +2.39% | +6.54% | +17.74% | 56 |
| MNDI.LSE MONDI PLC | 0.14% | 781.20 | -1.24% | +1.45% | -1.36% | -13.55% | 34 |
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
MXI dispersion — data Q&A
Is MXI's move broad or carried by a few names (21 sessions)?
As of 2026-11-10: over 21 sessions the fund returned +0.46% while its median constituent returned +2.40% — a dispersion of 10.79 pp; 61% of 59 members beat the fund. Improving below the surface - the A/D line is rising while price is flat-to-down; more names participating than the headline shows.
How did MXI's members trade in the last session?
As of 2026-11-10: fund -1.43%, median member -0.47%, 20 advancers vs 38 decliners.
What does the dispersion page for MXI 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. 60 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.