Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | -2.49% | -0.47 | -5pp | -0.83pp | Confirming ↓ |
| 1 month | -9.32% | -1.06 | +8pp | +3.89pp | Confirming ↓ |
| 1 quarter | -10.13% | -1.51 | +2pp | +1.93pp | Confirming ↓ |
Over the last 126 sessions: price up +1.98%, breadth up (+0.63/name) · % beating 35→58 · median−ETF -7.65pp→+3.70pp.
Stocks above their moving average — participation breadth
Of the 49 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 49 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 | 4 (8%) | 15 (31%) | -11 |
| 1-Month | 0 (0%) | 5 (10%) | -5 |
| 3-Month | 0 (0%) | 4 (8%) | -4 |
| 6-Month | 0 (0%) | 4 (8%) | -4 |
| 52-Week | 0 (0%) | 3 (6%) | -3 |
| YTD | 0 (0%) | 3 (6%) | -3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.72% | -0.68% | +0.05pp | 12 / 35 | 26 / 23 | 27 of 49 | ±1.55% |
| 5d | -2.49% | -0.63% | +1.86pp | 22 / 27 | 28 / 21 | 3 of 49 | ±11.71% |
| 21d | -9.32% | -4.82% | +4.50pp | 21 / 28 | 29 / 20 | 1 of 49 | ±18.68% |
| YTD | +3.41% | +4.66% | +1.25pp | 27 / 22 | 25 / 24 | 2 of 49 | ±40.37% |
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)
- AVGO+3.91%+0.09pp
- FTNT+0.90%+0.03pp
- VRSK+1.70%+0.03pp
- KLAC+1.06%+0.03pp
- PAYX+1.25%+0.02pp
- ARM-2.58%-0.13pp
- NVDA-5.47%-0.12pp
- APP-3.53%-0.08pp
- MPWR-2.19%-0.06pp
- ALNY-3.17%-0.05pp
This month (21d)
- APP+46.01%+0.98pp
- IDXX+32.96%+0.54pp
- ROP+29.17%+0.46pp
- REGN+20.09%+0.29pp
- ABNB+14.31%+0.25pp
- ARM-28.89%-1.45pp
- STX-33.41%-1.27pp
- DDOG-37.90%-1.25pp
- FTNT-35.95%-1.11pp
- MU-26.67%-1.06pp
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%
- IDXX+32.96%
- ROP+29.17%
- REGN+20.09%
- VRSK+14.95%
- DDOG-37.90%
- FTNT-35.95%
- STX-33.41%
- ALNY-33.20%
- ARM-28.89%
QQEW — constituent leadership race
$100 in each covered QQEW 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 181.49 | -2.58% | -10.37% | -28.89% | +66.03% | 8 |
| MU Micron Technology | 3.98% | 725.11 | -1.10% | -15.20% | -26.67% | +154.17% | 14 |
| STX Seagate Technology Holdings | 3.80% | 501.62 | -0.89% | -17.28% | -33.41% | +82.47% | 4 |
| DDOG Datadog Inc Cl A | 3.29% | 178.40 | -0.68% | -19.10% | -37.90% | +31.19% | 0 |
| FTNT Fortinet Inc | 3.10% | 123.57 | +0.90% | -3.54% | -35.95% | +55.61% | 2 |
| CRWD Crowdstrike Holdings | 2.97% | 225.76 | -1.23% | -7.73% | -14.16% | +92.64% | 31 |
| PANW Palo Alto Networks | 2.89% | 326.36 | -1.37% | -6.81% | -19.18% | +77.18% | 24 |
| MPWR Monolithic Power Sys | 2.61% | 1357.60 | -2.19% | +2.21% | +2.91% | +50.09% | 65 |
| LRCX Lam Research Corp | 2.49% | 222.39 | +0.49% | -3.61% | -28.16% | +30.16% | 10 |
| CDNS Cadence Design Sys | 2.45% | 331.64 | -1.45% | +2.44% | -4.82% | +6.10% | 49 |
| KLAC K L A-Tencor Corp | 2.40% | 152.99 | +1.06% | -2.06% | -19.53% | +26.38% | 20 |
| AVGO Broadcom Ltd | 2.28% | 331.98 | +3.91% | -0.05% | -6.41% | -3.88% | 47 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1507.85 | -0.36% | -2.85% | -13.85% | +41.43% | 33 |
| NVDA Nvidia Corp | 2.14% | 168.89 | -5.47% | -18.29% | -25.38% | -9.33% | 16 |
| APP Applovin Corp Cl A | 2.13% | 395.51 | -3.53% | +61.10% | +46.01% | -41.30% | 98 |
| AAPL Apple Inc | 2.12% | 348.51 | -0.62% | +5.00% | +2.21% | +28.31% | 61 |
| MNST Monster Beverage Corp | 2.03% | 45.34 | -0.66% | -3.90% | +3.61% | +18.27% | 67 |
| SNPS Synopsys Inc | 1.99% | 459.95 | -1.50% | -0.63% | -8.47% | -2.08% | 41 |
| MSFT Microsoft Corp | 1.89% | 533.16 | -2.20% | +2.34% | -1.48% | +10.50% | 53 |
| ADP Automatic Data Processing | 1.87% | 305.44 | +1.12% | +3.19% | +11.55% | +19.72% | 84 |
| ROST Ross Stores Inc | 1.86% | 238.95 | +0.82% | +3.17% | +5.80% | +32.93% | 71 |
| WDAY Workday Inc | 1.84% | 188.89 | -0.69% | -4.57% | +0.34% | -12.05% | 57 |
| DXCM Dexcom Inc | 1.83% | 79.92 | -1.42% | -3.68% | -6.98% | +20.42% | 45 |
| PAYX Paychex Inc | 1.81% | 116.20 | +1.25% | +0.48% | +11.05% | +4.66% | 76 |
| META META Platforms Inc | 1.78% | 641.39 | +0.00% | +3.28% | -13.67% | -2.75% | 35 |
| ADBE Adobe Systems Inc | 1.76% | 236.70 | -0.26% | -3.84% | -0.60% | -32.37% | 55 |
| ABNB Airbnb Inc Cl A | 1.76% | 186.90 | -1.78% | +11.94% | +14.31% | +37.71% | 88 |
| AXON Axon Enterprise | 1.75% | 302.54 | -0.21% | -27.37% | -27.00% | -46.73% | 12 |
| DASH Doordash Inc Cl A | 1.72% | 178.25 | -1.50% | -2.77% | -8.23% | -21.30% | 43 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 63 |
| MELI Mercadolibre Inc | 1.69% | 1490.24 | -2.77% | -10.34% | -21.25% | -26.02% | 18 |
| AMGN Amgen Inc | 1.68% | 465.23 | +0.00% | +0.86% | +11.41% | +43.12% | 82 |
| IDXX Idexx Laboratories | 1.65% | 696.64 | -1.42% | +3.66% | +32.96% | +2.97% | 96 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 151.64 | -3.17% | -5.16% | -33.20% | -61.87% | 6 |
| VRTX Vertex Pharmaceutic | 1.64% | 547.89 | -0.54% | +3.23% | +8.07% | +20.85% | 73 |
| BKNG Booking Holdings | 1.63% | 159.26 | -2.59% | +2.31% | +0.52% | -25.12% | 59 |
| PLTR Palantir Technologies Cl A | 1.59% | 168.82 | -0.22% | -3.75% | -19.22% | -5.02% | 22 |
| GILD Gilead Sciences Inc | 1.59% | 170.87 | +0.92% | +2.03% | +13.59% | +40.00% | 86 |
| ADSK Autodesk Inc | 1.59% | 260.11 | -1.23% | +3.09% | +11.38% | -12.13% | 80 |
| ROP Roper Industries | 1.58% | 474.47 | +0.60% | +0.19% | +29.17% | +7.08% | 94 |
| PDD Pdd Holdings Inc | 1.51% | 79.40 | -1.37% | -0.96% | -1.88% | -29.98% | 51 |
| VRSK Verisk Analytics Inc | 1.51% | 204.02 | +1.70% | +3.56% | +14.95% | -8.56% | 90 |
| ZS Zscaler Inc | 1.51% | 194.92 | -2.07% | -13.40% | -13.67% | -13.34% | 37 |
| NFLX Netflix Inc | 1.50% | 63.26 | -1.08% | -0.25% | -10.41% | -32.53% | 39 |
| ISRG Intuitive Surg Inc | 1.48% | 450.04 | -2.28% | +2.11% | +5.24% | -20.54% | 69 |
| REGN Regeneron Pharmaceuticals | 1.45% | 916.06 | -0.42% | -5.89% | +20.09% | +18.82% | 92 |
| INTU Intuit Inc | 1.12% | 340.44 | +0.65% | -1.24% | +11.26% | -48.35% | 78 |
| GOOGL Alphabet Cl A | 1.04% | 287.38 | -0.27% | +2.62% | -18.52% | -8.12% | 27 |
| GOOG Alphabet Cl C | 1.04% | 284.92 | -0.38% | +2.39% | -18.35% | -9.14% | 29 |
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
QQEW dispersion — data Q&A
Is QQEW's move broad or carried by a few names (21 sessions)?
As of 2026-11-10: over 21 sessions the fund returned -9.32% while its median constituent returned -4.82% — a dispersion of 18.68 pp; 59% of 49 members beat the fund. Broad decline - breadth is falling with price.
How did QQEW's members trade in the last session?
As of 2026-11-10: fund -0.72%, median member -0.68%, 12 advancers vs 35 decliners.
What does the dispersion page for QQEW 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. 49 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.