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 | +1.46% | +0.34 | +4pp | +0.90pp | Confirming ↑ |
| 1 month | +4.20% | +1.89 | +17pp | +3.02pp | Confirming ↑ |
| 1 quarter | -0.99% | -0.11 | +16pp | +3.13pp | Weakening |
Over the last 126 sessions: price up +5.78%, breadth up (+1.91/name) · % beating 48→69 · median−ETF -1.37pp→+3.80pp.
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 2026-11-10.
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 | 12 (21%) | 13 (23%) | -1 |
| 1-Month | 12 (21%) | 4 (7%) | +8 |
| 3-Month | 7 (13%) | 4 (7%) | +3 |
| 6-Month | 6 (11%) | 3 (5%) | +3 |
| 52-Week | 6 (11%) | 3 (5%) | +3 |
| YTD | 6 (11%) | 3 (5%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.15% | -0.03% | +0.12pp | 24 / 29 | 31 / 25 | 31 of 56 | ±2.24% |
| 5d | +1.46% | +1.93% | +0.47pp | 40 / 16 | 31 / 25 | 14 of 56 | ±7.02% |
| 21d | +4.20% | +8.00% | +3.80pp | 44 / 12 | 38 / 18 | 3 of 56 | ±14.34% |
| YTD | +3.04% | +7.35% | +4.31pp | 38 / 18 | 32 / 24 | 3 of 56 | ±24.81% |
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)
- TTWO+8.31%+0.16pp
- CHTR+10.61%+0.11pp
- MAR+2.66%+0.06pp
- INSM+2.92%+0.04pp
- KDP+1.76%+0.03pp
- ALNY-3.17%-0.05pp
- CEG-3.02%-0.05pp
- MELI-2.77%-0.05pp
- BKNG-2.59%-0.04pp
- ODFL-1.68%-0.04pp
This month (21d)
- IDXX+32.96%+0.56pp
- FER+21.16%+0.4pp
- GEHC+23.49%+0.38pp
- CPRT+21.98%+0.36pp
- SBUX+19.14%+0.34pp
- ALNY-33.20%-0.56pp
- LITE-41.17%-0.54pp
- AXON-27.00%-0.49pp
- CSCO-14.90%-0.44pp
- MELI-21.25%-0.37pp
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)
- IDXX+32.96%
- CHTR+30.82%
- GEHC+23.49%
- CPRT+21.98%
- INSM+21.24%
- LITE-41.17%
- ALNY-33.20%
- AXON-27.00%
- MELI-21.25%
- BKR-14.97%
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% | 98.15 | -0.51% | -4.68% | -14.90% | +28.79% | 9 |
| ODFL Old Dominion Freight Line | 2.34% | 168.02 | -1.68% | -5.44% | -7.64% | +7.31% | 16 |
| AMZN Amazon.com Inc | 2.16% | 270.87 | +1.48% | +8.05% | +4.37% | +17.35% | 32 |
| CSX CSX Corp | 2.12% | 51.08 | +1.19% | +0.71% | +6.97% | +41.37% | 41 |
| MAR Marriot Int Cl A | 2.11% | 428.26 | +2.66% | +2.85% | +15.97% | +38.31% | 82 |
| MNST Monster Beverage Corp | 2.10% | 45.34 | -0.66% | -3.90% | +3.61% | +18.27% | 30 |
| TSLA Tesla Inc | 1.99% | 379.78 | +0.46% | -4.70% | +0.46% | -15.55% | 21 |
| KDP Keurig Dr Pepper Inc | 1.98% | 37.59 | +1.76% | +8.20% | +14.78% | +36.51% | 79 |
| ADP Automatic Data Processing | 1.94% | 305.44 | +1.12% | +3.19% | +11.55% | +19.72% | 70 |
| ROST Ross Stores Inc | 1.93% | 238.95 | +0.82% | +3.17% | +5.80% | +32.93% | 38 |
| BKR Baker Hughes Company | 1.92% | 47.77 | -0.93% | -9.08% | -14.97% | +5.64% | 7 |
| DXCM Dexcom Inc | 1.90% | 79.92 | -1.42% | -3.68% | -6.98% | +20.42% | 18 |
| MDLZ Mondelez Intl Inc | 1.90% | 66.54 | +0.15% | +2.18% | +7.69% | +24.68% | 46 |
| TTWO Take-Two Interactive | 1.89% | 224.64 | +8.31% | +15.21% | +7.58% | -12.26% | 45 |
| FER Ferrovial N.V. | 1.89% | 60.99 | -0.65% | +6.00% | +21.16% | -5.60% | 89 |
| FAST Fastenal Company | 1.89% | 54.84 | +0.49% | +4.80% | +6.51% | +38.14% | 39 |
| PAYX Paychex Inc | 1.88% | 116.20 | +1.25% | +0.48% | +11.05% | +4.66% | 63 |
| PCAR Paccar Inc | 1.86% | 105.57 | +0.18% | +3.81% | -2.37% | -3.05% | 20 |
| FANG Diamondback Energy | 1.84% | 178.08 | -0.05% | -7.41% | -8.73% | +19.17% | 14 |
| ABNB Airbnb Inc Cl A | 1.82% | 186.90 | -1.78% | +11.94% | +14.31% | +37.71% | 77 |
| LIN Linde Plc | 1.82% | 521.78 | +0.28% | +2.00% | +7.06% | +22.78% | 43 |
| KHC Kraft Heinz Company | 1.82% | 24.24 | -0.74% | -1.14% | +7.97% | +1.64% | 48 |
| AXON Axon Enterprise | 1.81% | 302.54 | -0.21% | -27.37% | -27.00% | -46.73% | 4 |
| AEP American Electric Power | 1.78% | 127.84 | +0.38% | -0.81% | +2.91% | +11.74% | 27 |
| EA Electronic Arts Inc | 1.78% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 25 |
| SBUX Starbucks Corp | 1.78% | 109.95 | +0.47% | +4.94% | +19.14% | +31.41% | 84 |
| ORLY O'Reilly Automotive | 1.77% | 89.39 | -0.45% | -0.67% | +3.16% | -2.00% | 29 |
| XEL XCEL Energy Inc | 1.77% | 80.12 | -0.06% | +1.73% | +8.02% | +9.28% | 50 |
| CCEP Coca-Cola Europacific Partners Plc | 1.76% | 117.55 | +0.05% | +5.37% | +11.87% | +29.60% | 71 |
| CTAS Cintas Corp | 1.76% | 225.28 | +0.95% | +0.69% | +9.77% | +20.06% | 59 |
| COST Costco Wholesale | 1.75% | 1066.14 | +0.00% | +4.60% | +11.12% | +23.98% | 64 |
| MELI Mercadolibre Inc | 1.75% | 1490.24 | -2.77% | -10.34% | -21.25% | -26.02% | 5 |
| AMGN Amgen Inc | 1.74% | 465.23 | +0.00% | +0.86% | +11.41% | +43.12% | 68 |
| WMT Walmart Inc | 1.73% | 125.55 | -0.09% | +0.55% | +11.03% | +12.92% | 61 |
| HON Honeywell International | 1.72% | 228.22 | -0.34% | +1.86% | +8.86% | +13.05% | 55 |
| WBD Discovery Inc Series A | 1.72% | 30.95 | +0.00% | +0.32% | +9.56% | +7.39% | 57 |
| IDXX Idexx Laboratories | 1.71% | 696.64 | -1.42% | +3.66% | +32.96% | +2.97% | 98 |
| ALNY Alnylam Pharmaceuticals | 1.70% | 151.64 | -3.17% | -5.16% | -33.20% | -61.87% | 2 |
| BKNG Booking Holdings | 1.70% | 159.26 | -2.59% | +2.31% | +0.52% | -25.12% | 23 |
| PYPL Paypal Holdings | 1.70% | 58.78 | -2.11% | +0.98% | +4.87% | +0.99% | 34 |
| VRTX Vertex Pharmaceutic | 1.70% | 547.89 | -0.54% | +3.23% | +8.07% | +20.85% | 52 |
| EXC Exelon Corp | 1.68% | 45.53 | -0.26% | +0.07% | +8.10% | +5.34% | 54 |
| PEP Pepsico Inc | 1.66% | 143.61 | +1.22% | +4.62% | +13.36% | +0.96% | 73 |
| GILD Gilead Sciences Inc | 1.65% | 170.87 | +0.92% | +2.03% | +13.59% | +40.00% | 75 |
| CEG Constellation Energy Corp | 1.64% | 267.76 | -3.02% | +1.66% | -8.89% | -24.10% | 13 |
| CPRT Copart Inc | 1.64% | 32.30 | -0.46% | +3.99% | +21.98% | -17.50% | 93 |
| GEHC GE Healthcare Technologies | 1.60% | 83.65 | -0.45% | +3.71% | +23.49% | +2.08% | 95 |
| VRSK Verisk Analytics Inc | 1.56% | 204.02 | +1.70% | +3.56% | +14.95% | -8.56% | 80 |
| NFLX Netflix Inc | 1.55% | 63.26 | -1.08% | -0.25% | -10.41% | -32.53% | 11 |
| ISRG Intuitive Surg Inc | 1.53% | 450.04 | -2.28% | +2.11% | +5.24% | -20.54% | 36 |
| REGN Regeneron Pharmaceuticals | 1.50% | 916.06 | -0.42% | -5.89% | +20.09% | +18.82% | 88 |
| TMUS T-Mobile US | 1.49% | 169.08 | +0.22% | +9.50% | +11.33% | -16.33% | 66 |
| CMCSA Comcast Corp A | 1.41% | 24.75 | +0.98% | +4.56% | +19.68% | -9.57% | 86 |
| INSM Insmed Inc | 1.35% | 119.49 | +2.92% | +14.41% | +21.24% | -31.34% | 91 |
| LITE Lumentum Holdings | 1.30% | 585.57 | -1.78% | -13.91% | -41.17% | +58.87% | 0 |
| CHTR Charter Communications | 1.06% | 134.06 | +10.61% | +17.81% | +30.82% | -35.78% | 96 |
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 2026-11-10: over 21 sessions the fund returned +4.20% while its median constituent returned +8.00% — a dispersion of 14.34 pp; 68% of 56 members beat the fund. Broad advance - breadth is rising with price.
How did QQXT's members trade in the last session?
As of 2026-11-10: fund -0.15%, median member -0.03%, 24 advancers vs 29 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 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.