Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 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 | -3.44% | -0.44 | -4pp | -3.68pp | Confirming ↓ |
| 1 month | -14.71% | -1.22 | +15pp | +2.73pp | Confirming ↓ |
| 1 quarter | -13.04% | -1.02 | +15pp | +5.07pp | Confirming ↓ |
Over the last 126 sessions: price down -5.07%, breadth down (-0.62/name) · % beating 40→57 · median−ETF -3.15pp→+1.04pp.
Stocks above their moving average — participation breadth
Of the 45 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 45 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 | 7 (16%) | 9 (20%) | -2 |
| 1-Month | 0 (0%) | 4 (9%) | -4 |
| 3-Month | 0 (0%) | 2 (4%) | -2 |
| 6-Month | 0 (0%) | 1 (2%) | -1 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 0 (0%) | 0 (0%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.65% | -0.62% | +0.02pp | 14 / 31 | 23 / 22 | 22 of 45 | ±2.57% |
| 5d | -3.44% | -2.77% | +0.67pp | 14 / 31 | 24 / 21 | 9 of 45 | ±12.07% |
| 21d | -14.71% | -13.67% | +1.04pp | 11 / 34 | 25 / 20 | 2 of 45 | ±18.46% |
| YTD | +20.85% | +7.08% | -13.77pp | 25 / 20 | 21 / 24 | 1 of 45 | ±70.77% |
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%+0.08pp
- AMD+1.30%+0.05pp
- NXPI+2.00%+0.05pp
- TXN+1.62%+0.04pp
- QCOM+1.20%+0.03pp
- SNDK-13.47%-0.35pp
- ARM-2.58%-0.12pp
- NVDA-5.47%-0.11pp
- INTC-2.09%-0.08pp
- APP-3.53%-0.07pp
This month (21d)
- APP+46.01%+0.88pp
- ROP+29.17%+0.41pp
- NXPI+16.14%+0.41pp
- TXN+6.67%+0.16pp
- ADSK+11.38%+0.16pp
- MRVL-41.93%-2.29pp
- INTC-42.64%-1.65pp
- ARM-28.89%-1.3pp
- STX-33.41%-1.14pp
- DDOG-37.90%-1.12pp
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%
- ROP+29.17%
- NXPI+16.14%
- ADSK+11.38%
- INTU+11.26%
- INTC-42.64%
- MRVL-41.93%
- DDOG-37.90%
- FTNT-35.95%
- SNDK-35.62%
QTEC — constituent leadership race
$100 in each covered QTEC 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 — 45 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MRVL Marvell Technology Inc | 5.46% | 154.39 | -0.14% | -10.22% | -41.93% | +81.90% | 2 |
| ARM Arm Holdings Plc ADR | 4.51% | 181.49 | -2.58% | -10.37% | -28.89% | +66.03% | 13 |
| AMD Adv Micro Devices | 3.94% | 515.21 | +1.30% | +6.47% | -13.30% | +140.57% | 53 |
| INTC Intel Corp | 3.87% | 58.13 | -2.09% | -4.00% | -42.64% | +57.53% | 0 |
| MU Micron Technology | 3.57% | 725.11 | -1.10% | -15.20% | -26.67% | +154.17% | 18 |
| STX Seagate Technology Holdings | 3.42% | 501.62 | -0.89% | -17.28% | -33.41% | +82.47% | 11 |
| WDC Western Digital Corp | 2.98% | 289.20 | -0.20% | -16.74% | -25.26% | +67.96% | 22 |
| DDOG Datadog Inc Cl A | 2.95% | 178.40 | -0.68% | -19.10% | -37.90% | +31.19% | 4 |
| QCOM Qualcomm Inc | 2.83% | 173.53 | +1.20% | +5.53% | -0.52% | +2.10% | 73 |
| FTNT Fortinet Inc | 2.79% | 123.57 | +0.90% | -3.54% | -35.95% | +55.61% | 7 |
| CRWD Crowdstrike Holdings | 2.67% | 225.76 | -1.23% | -7.73% | -14.16% | +92.64% | 44 |
| SNDK Sandisk Corp | 2.63% | 1150.89 | -13.47% | -7.04% | -35.62% | +384.83% | 9 |
| PANW Palo Alto Networks | 2.60% | 326.36 | -1.37% | -6.81% | -19.18% | +77.18% | 33 |
| NXPI Nxp Semiconductors | 2.55% | 261.56 | +2.00% | -0.47% | +16.14% | +21.13% | 93 |
| TXN Texas Instruments | 2.47% | 300.52 | +1.62% | -3.83% | +6.67% | +74.35% | 84 |
| MPWR Monolithic Power Sys | 2.35% | 1357.60 | -2.19% | +2.21% | +2.91% | +50.09% | 80 |
| MCHP Microchip Technology | 2.32% | 60.33 | -1.90% | -22.55% | -18.29% | -4.76% | 40 |
| LRCX Lam Research Corp | 2.23% | 222.39 | +0.49% | -3.61% | -28.16% | +30.16% | 16 |
| CDNS Cadence Design Sys | 2.20% | 331.64 | -1.45% | +2.44% | -4.82% | +6.10% | 62 |
| KLAC K L A-Tencor Corp | 2.16% | 152.99 | +1.06% | -2.06% | -19.53% | +26.38% | 29 |
| AMAT Applied Materials | 2.13% | 372.53 | +0.53% | -2.46% | -25.12% | +45.14% | 24 |
| ADI Analog Devices | 2.10% | 393.30 | -0.34% | -6.31% | -3.19% | +45.48% | 64 |
| AVGO Broadcom Ltd | 2.05% | 331.98 | +3.91% | -0.05% | -6.41% | -3.88% | 60 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1507.85 | -0.36% | -2.85% | -13.85% | +41.43% | 47 |
| NVDA Nvidia Corp | 1.92% | 168.89 | -5.47% | -18.29% | -25.38% | -9.33% | 20 |
| APP Applovin Corp Cl A | 1.92% | 395.51 | -3.53% | +61.10% | +46.01% | -41.30% | 98 |
| AAPL Apple Inc | 1.90% | 348.51 | -0.62% | +5.00% | +2.21% | +28.31% | 78 |
| SNPS Synopsys Inc | 1.78% | 459.95 | -1.50% | -0.63% | -8.47% | -2.08% | 56 |
| MSFT Microsoft Corp | 1.70% | 533.16 | -2.20% | +2.34% | -1.48% | +10.50% | 69 |
| WDAY Workday Inc | 1.65% | 188.89 | -0.69% | -4.57% | +0.34% | -12.05% | 76 |
| META META Platforms Inc | 1.60% | 641.39 | +0.00% | +3.28% | -13.67% | -2.75% | 49 |
| ADBE Adobe Systems Inc | 1.58% | 236.70 | -0.26% | -3.84% | -0.60% | -32.37% | 71 |
| DASH Doordash Inc Cl A | 1.55% | 178.25 | -1.50% | -2.77% | -8.23% | -21.30% | 58 |
| SHOP Shopify Inc | 1.51% | 146.61 | -3.58% | +2.83% | -18.20% | -8.92% | 42 |
| MSTR Strategy Inc | 1.45% | 121.07 | -3.60% | -10.74% | -20.70% | -20.32% | 27 |
| ADSK Autodesk Inc | 1.43% | 260.11 | -1.23% | +3.09% | +11.38% | -12.13% | 91 |
| PLTR Palantir Technologies Cl A | 1.43% | 168.82 | -0.22% | -3.75% | -19.22% | -5.02% | 31 |
| ROP Roper Industries | 1.42% | 474.47 | +0.60% | +0.19% | +29.17% | +7.08% | 96 |
| TRI Thomson Reuters Corp | 1.37% | 108.41 | +0.10% | -1.61% | +3.99% | -15.97% | 82 |
| PDD Pdd Holdings Inc | 1.35% | 79.40 | -1.37% | -0.96% | -1.88% | -29.98% | 67 |
| ZS Zscaler Inc | 1.35% | 194.92 | -2.07% | -13.40% | -13.67% | -13.34% | 51 |
| CTSH Cognizant Tech Sol | 1.31% | 65.00 | +2.20% | +1.83% | +8.91% | -21.29% | 87 |
| INTU Intuit Inc | 1.01% | 340.44 | +0.65% | -1.24% | +11.26% | -48.35% | 89 |
| GOOGL Alphabet Cl A | 0.94% | 287.38 | -0.27% | +2.62% | -18.52% | -8.12% | 36 |
| GOOG Alphabet Cl C | 0.94% | 284.92 | -0.38% | +2.39% | -18.35% | -9.14% | 38 |
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
QTEC dispersion — data Q&A
Is QTEC's move broad or carried by a few names (21 sessions)?
As of 2026-11-10: over 21 sessions the fund returned -14.71% while its median constituent returned -13.67% — a dispersion of 18.46 pp; 56% of 45 members beat the fund. Broad decline - breadth is falling with price.
How did QTEC's members trade in the last session?
As of 2026-11-10: fund -0.65%, median member -0.62%, 14 advancers vs 31 decliners.
What does the dispersion page for QTEC 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. 45 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.