Constituent dispersion · breadth vs the index
QQXT — First Trust Nasdaq-100 Ex-Technology
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 | -2.57% | -1.02 | +13pp | +2.39pp | Confirming ↓ |
| 1 month | -4.74% | -1.8 | +7pp | +0.69pp | Confirming ↓ |
| 1 quarter | +0.29% | -0.55 | +10pp | +0.87pp | Weakening |
Over the last 126 sessions: price down -0.32%, breadth up (+0.05/name) · % beating 53→51 · median−ETF +0.59pp→+0.28pp.
Stocks above their moving average — participation breadth
Of the 56 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 2026-09-14.
New highs & new lows — by horizon
How many of the 56 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 | 17 (30%) | 11 (20%) | +6 |
| 1-Month | 0 (0%) | 7 (13%) | -7 |
| 3-Month | 0 (0%) | 4 (7%) | -4 |
| 6-Month | 0 (0%) | 4 (7%) | -4 |
| 52-Week | 0 (0%) | 1 (2%) | -1 |
| YTD | 0 (0%) | 2 (4%) | -2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.32% | +0.32% | +0.00pp | 35 / 20 | 28 / 28 | 25 of 56 | ±2.55% |
| 5d | -2.58% | -1.99% | +0.58pp | 16 / 40 | 32 / 24 | 11 of 56 | ±3.63% |
| 21d | -4.74% | -4.42% | +0.32pp | 14 / 42 | 29 / 27 | 9 of 56 | ±6.12% |
| YTD | -0.25% | +2.96% | +3.21pp | 31 / 24 | 32 / 23 | 2 of 55 | ±25.19% |
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)
- CPRT+5.94%+0.1pp
- VRSK+6.15%+0.1pp
- TTWO+3.45%+0.07pp
- ADP+3.12%+0.06pp
- NFLX+3.77%+0.06pp
- LITE-9.92%-0.13pp
- CEG-7.09%-0.12pp
- BKR-3.86%-0.07pp
- CSCO-1.85%-0.05pp
- FER-2.72%-0.05pp
This month (21d)
- ALNY+10.07%+0.17pp
- CPRT+7.96%+0.13pp
- TSLA+5.59%+0.11pp
- GILD+5.99%+0.1pp
- MELI+3.94%+0.07pp
- AXON-20.37%-0.37pp
- ODFL-15.68%-0.37pp
- BKNG-17.81%-0.3pp
- FER-15.33%-0.29pp
- HON-13.68%-0.24pp
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)
- ALNY+10.07%
- CPRT+7.96%
- GILD+5.99%
- TSLA+5.59%
- MELI+3.94%
- AXON-20.37%
- BKNG-17.81%
- ODFL-15.68%
- FER-15.33%
- HON-13.68%
QQXT — constituent leadership race
$100 in each covered QQXT 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 — 56 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CSCO Cisco Systems Inc | 2.93% | 110.06 | -1.85% | +0.79% | -3.01% | +44.42% | 59 |
| ODFL Old Dominion Freight Line | 2.34% | 181.91 | +1.18% | -2.13% | -15.68% | +16.18% | 4 |
| AMZN Amazon.com Inc | 2.16% | 253.54 | -1.26% | -1.92% | -4.37% | +9.84% | 52 |
| CSX CSX Corp | 2.12% | 48.91 | -0.08% | -1.01% | -2.45% | +35.37% | 66 |
| MAR Marriot Int Cl A | 2.11% | 340.46 | +1.72% | +1.17% | -3.23% | +9.95% | 55 |
| MNST Monster Beverage Corp | 2.10% | 44.20 | +1.84% | +0.87% | -5.31% | +15.30% | 41 |
| TSLA Tesla Inc | 1.99% | 358.97 | -1.77% | +1.38% | +5.59% | -20.18% | 93 |
| KDP Keurig Dr Pepper Inc | 1.98% | 31.58 | +0.61% | -3.10% | +1.48% | +14.68% | 84 |
| ADP Automatic Data Processing | 1.94% | 276.63 | +3.12% | +0.28% | +0.14% | +8.43% | 75 |
| ROST Ross Stores Inc | 1.93% | 230.04 | -0.30% | -0.09% | -6.09% | +27.97% | 30 |
| BKR Baker Hughes Company | 1.92% | 56.78 | -3.86% | -10.58% | -10.50% | +25.57% | 13 |
| DXCM Dexcom Inc | 1.90% | 84.68 | +1.99% | -3.66% | -7.43% | +27.59% | 25 |
| MDLZ Mondelez Intl Inc | 1.90% | 62.39 | -0.08% | +1.81% | -1.79% | +16.91% | 68 |
| TTWO Take-Two Interactive | 1.89% | 222.91 | +3.45% | +3.83% | -7.85% | -12.94% | 21 |
| FER Ferrovial N.V. | 1.89% | 54.62 | -2.72% | -5.91% | -15.33% | -15.46% | 5 |
| FAST Fastenal Company | 1.89% | 49.44 | +0.24% | -0.32% | -3.70% | +24.54% | 54 |
| PAYX Paychex Inc | 1.88% | 118.51 | +2.34% | -2.63% | -5.49% | +6.74% | 39 |
| PCAR Paccar Inc | 1.86% | 122.86 | +0.11% | -1.48% | -6.01% | +12.83% | 32 |
| FANG Diamondback Energy | 1.84% | 205.72 | +0.37% | +3.26% | +3.11% | +37.66% | 89 |
| ABNB Airbnb Inc Cl A | 1.82% | 170.65 | +0.27% | -6.21% | -7.82% | +25.74% | 23 |
| LIN Linde Plc | 1.82% | 464.41 | -0.39% | -2.76% | -2.88% | +9.28% | 61 |
| KHC Kraft Heinz Company | 1.82% | 24.27 | -1.34% | -2.33% | -4.37% | +1.76% | 50 |
| AXON Axon Enterprise | 1.81% | 490.18 | +2.26% | -4.94% | -20.37% | -13.69% | 0 |
| AEP American Electric Power | 1.78% | 122.23 | -0.89% | -1.82% | -2.51% | +6.84% | 64 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 86 |
| SBUX Starbucks Corp | 1.78% | 99.07 | +0.33% | -5.17% | -8.21% | +18.41% | 18 |
| ORLY O'Reilly Automotive | 1.77% | 87.22 | +1.63% | -0.76% | -5.79% | -4.37% | 36 |
| XEL XCEL Energy Inc | 1.77% | 74.16 | -1.77% | -2.06% | -6.10% | +1.15% | 29 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 104.67 | +1.85% | -1.03% | -2.61% | +15.40% | 63 |
| CTAS Cintas Corp | 1.76% | 200.82 | -0.34% | +0.17% | +0.32% | +7.03% | 77 |
| COST Costco Wholesale | 1.75% | 918.91 | +1.56% | +0.35% | -4.46% | +6.86% | 48 |
| MELI Mercadolibre Inc | 1.75% | 1900.24 | +0.15% | -3.95% | +3.94% | -5.66% | 91 |
| AMGN Amgen Inc | 1.74% | 381.50 | +1.10% | -12.75% | -8.16% | +17.36% | 20 |
| WMT Walmart Inc | 1.73% | 109.08 | +1.80% | +1.81% | -5.51% | -1.89% | 38 |
| HON Honeywell International | 1.72% | 201.38 | -0.48% | -3.93% | -13.68% | -0.25% | 7 |
| WBD Discovery Inc Series A | 1.72% | 28.10 | +0.21% | -0.53% | +1.26% | -2.50% | 82 |
| IDXX Idexx Laboratories | 1.71% | 509.56 | +0.96% | -4.82% | -10.12% | -24.68% | 14 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 249.99 | +0.53% | -6.06% | +10.07% | -37.13% | 98 |
| BKNG Booking Holdings | 1.70% | 175.35 | +0.82% | -9.06% | -17.81% | — | 2 |
| PYPL Paypal Holdings | 1.70% | 54.03 | +0.58% | -1.69% | -10.83% | -7.17% | 11 |
| VRTX Vertex Pharmaceutic | 1.70% | 519.51 | +0.79% | -4.87% | +0.59% | +14.59% | 80 |
| EXC Exelon Corp | 1.68% | 42.72 | -1.02% | -2.11% | -6.32% | -1.16% | 27 |
| PEP Pepsico Inc | 1.66% | 136.34 | +0.01% | -0.94% | -3.04% | -4.15% | 57 |
| GILD Gilead Sciences Inc | 1.65% | 146.41 | +1.87% | -3.04% | +5.99% | +19.96% | 95 |
| CEG Constellation Energy Corp | 1.64% | 264.57 | -7.09% | -11.50% | -4.90% | -25.01% | 46 |
| CPRT Copart Inc | 1.64% | 31.73 | +5.94% | -5.90% | +7.96% | -18.95% | 96 |
| GEHC GE Healthcare Technologies | 1.60% | 64.25 | +0.50% | -6.69% | -12.93% | -21.60% | 9 |
| VRSK Verisk Analytics Inc | 1.56% | 187.03 | +6.15% | +0.67% | +0.59% | -16.18% | 79 |
| NFLX Netflix Inc | 1.55% | 80.32 | +3.77% | +2.65% | +2.66% | -14.33% | 88 |
| ISRG Intuitive Surg Inc | 1.53% | 377.94 | +2.38% | +3.07% | -5.81% | -33.27% | 34 |
| REGN Regeneron Pharmaceuticals | 1.50% | 793.74 | +1.57% | -4.11% | -1.40% | +2.96% | 70 |
| TMUS T-Mobile US | 1.49% | 182.90 | +0.31% | +0.76% | -0.26% | -9.49% | 73 |
| CMCSA Comcast Corp A | 1.41% | 24.88 | -1.27% | -6.08% | -4.97% | -9.10% | 45 |
| INSM Insmed Inc | 1.35% | 125.30 | -3.18% | -0.78% | -0.82% | -28.01% | 71 |
| LITE Lumentum Holdings | 1.30% | 835.03 | -9.92% | -5.25% | -5.15% | +126.55% | 43 |
| CHTR Charter Communications | 1.06% | 143.35 | -1.66% | -5.68% | -8.42% | -31.33% | 16 |
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
QQXT dispersion — data Q&A
Is QQXT's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -4.74% while its median constituent returned -4.42% — a dispersion of 6.12 pp; 52% of 56 members beat the fund. Broad decline - breadth is falling with price.
How did QQXT's members trade in the last session?
As of 2026-09-14: fund +0.32%, median member +0.32%, 35 advancers vs 20 decliners.
What does the dispersion page for QQXT 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. 56 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.