Constituent dispersion · breadth vs the index
QTOP — iShares Nasdaq-100 Top 30
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 | -0.77% | -0.55 | -4pp | +1.11pp | Weakening |
| 1 month | -2.13% | -2.13 | -20pp | -1.98pp | Confirming ↓ |
| 1 quarter | -1.30% | -2.55 | -7pp | +0.65pp | Confirming ↓ |
Over the last 126 sessions: price up +19.87%, breadth up (+0.13/name) · % beating 32→35 · median−ETF -2.17pp→-1.06pp.
Stocks above their moving average — participation breadth
Of the 31 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 31 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 | 11 (35%) | 11 (35%) | +0 |
| 1-Month | 4 (13%) | 5 (16%) | -1 |
| 3-Month | 0 (0%) | 4 (13%) | -4 |
| 6-Month | 0 (0%) | 1 (3%) | -1 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 0 (0%) | 1 (3%) | -1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.89% | -0.39% | +0.50pp | 15 / 16 | 17 / 14 | 7 of 31 | ±3.53% |
| 5d | -0.77% | +0.35% | +1.12pp | 16 / 15 | 18 / 13 | 3 of 31 | ±5.2% |
| 21d | -2.13% | -3.18% | -1.06pp | 10 / 21 | 11 / 20 | 4 of 31 | ±8.46% |
| YTD | +16.76% | +9.84% | -6.92pp | 21 / 10 | 12 / 19 | 1 of 31 | ±54.85% |
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)
- GOOGL+3.22%+0.16pp
- GOOG+3.06%+0.14pp
- MSFT+1.97%+0.13pp
- META+2.71%+0.09pp
- NFLX+3.77%+0.09pp
- NVDA-3.36%-0.38pp
- MU-5.25%-0.27pp
- AVGO-4.77%-0.21pp
- INTC-5.59%-0.2pp
- AMD-4.40%-0.2pp
This month (21d)
- AAPL+9.11%+0.87pp
- META+11.87%+0.42pp
- TSLA+5.59%+0.22pp
- QCOM+9.32%+0.13pp
- MSFT+1.91%+0.13pp
- AVGO-17.50%-0.75pp
- NVDA-6.36%-0.73pp
- LRCX-18.85%-0.43pp
- AMAT-20.56%-0.42pp
- KLAC-19.15%-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)
- META+11.87%
- QCOM+9.32%
- AAPL+9.11%
- GILD+5.99%
- TSLA+5.59%
- AMAT-20.56%
- KLAC-19.15%
- LRCX-18.85%
- AVGO-17.50%
- SHOP-15.54%
QTOP — constituent leadership race
$100 in each covered QTOP 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 — 31 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| NVDA Nvidia Corp | 11.40% | 210.96 | -3.36% | -8.32% | -6.36% | +13.25% | 26 |
| AAPL Apple Inc | 9.57% | 333.08 | +0.24% | +4.10% | +9.11% | +22.63% | 90 |
| MSFT Microsoft Corp | 6.65% | 505.41 | +1.97% | +1.14% | +1.91% | +4.74% | 74 |
| AMZN Amazon.com Inc | 6.16% | 253.54 | -1.26% | -1.92% | -4.37% | +9.84% | 42 |
| MU Micron Technology | 5.18% | 924.03 | -5.25% | -9.10% | -2.72% | +223.89% | 61 |
| GOOGL Alphabet Cl A | 4.82% | 349.39 | +3.22% | +3.23% | +0.87% | +11.70% | 71 |
| GOOG Alphabet Cl C | 4.46% | 345.71 | +3.06% | +3.10% | +0.51% | +10.25% | 68 |
| AMD Adv Micro Devices | 4.43% | 493.41 | -4.40% | +3.32% | +2.15% | +130.39% | 77 |
| AVGO Broadcom Ltd | 4.30% | 344.72 | -4.77% | -3.68% | -17.50% | -0.19% | 10 |
| TSLA Tesla Inc | 3.88% | 358.97 | -1.77% | +1.38% | +5.59% | -20.18% | 84 |
| INTC Intel Corp | 3.57% | 97.19 | -5.59% | +1.45% | -7.05% | +163.39% | 23 |
| WMT Walmart Inc | 3.55% | 109.08 | +1.80% | +1.81% | -5.51% | -1.89% | 32 |
| META META Platforms Inc | 3.50% | 665.60 | +2.71% | +7.92% | +11.87% | +0.92% | 97 |
| CSCO Cisco Systems Inc | 2.82% | 110.06 | -1.85% | +0.79% | -3.01% | +44.42% | 55 |
| COST Costco Wholesale | 2.82% | 918.91 | +1.56% | +0.35% | -4.46% | +6.86% | 39 |
| LRCX Lam Research Corp | 2.28% | 273.49 | -8.29% | -11.10% | -18.85% | +60.07% | 6 |
| NFLX Netflix Inc | 2.28% | 80.32 | +3.77% | +2.65% | +2.66% | -14.33% | 81 |
| AMAT Applied Materials | 2.05% | 424.21 | -7.07% | -6.71% | -20.56% | +65.27% | 0 |
| PLTR Palantir Technologies Cl A | 1.90% | 173.31 | +3.64% | -0.59% | -3.18% | -2.50% | 48 |
| TXN Texas Instruments | 1.64% | 263.42 | -1.97% | +1.93% | -3.66% | +52.83% | 45 |
| KLAC K L A-Tencor Corp | 1.46% | 169.09 | -6.39% | -8.90% | -19.15% | +39.68% | 3 |
| LIN Linde Plc | 1.44% | 464.41 | -0.39% | -2.76% | -2.88% | +9.28% | 58 |
| QCOM Qualcomm Inc | 1.37% | 180.15 | -1.00% | +6.76% | +9.32% | +6.00% | 94 |
| TMUS T-Mobile US | 1.27% | 182.90 | +0.31% | +0.76% | -0.26% | -9.49% | 65 |
| PEP Pepsico Inc | 1.23% | 136.34 | +0.01% | -0.94% | -3.04% | -4.15% | 52 |
| ADI Analog Devices | 1.13% | 361.02 | -4.69% | -0.34% | -5.29% | +33.54% | 35 |
| AMGN Amgen Inc | 1.10% | 381.50 | +1.10% | -12.75% | -8.16% | +17.36% | 19 |
| GILD Gilead Sciences Inc | 0.98% | 146.41 | +1.87% | -3.04% | +5.99% | +19.96% | 87 |
| ISRG Intuitive Surg Inc | 0.94% | 377.94 | +2.38% | +3.07% | -5.81% | -33.27% | 29 |
| HON Honeywell International | 0.86% | 201.38 | -0.48% | -3.93% | -13.68% | -0.25% | 16 |
| SHOP Shopify Inc | 0.78% | 133.89 | +3.96% | -7.72% | -15.54% | -16.82% | 13 |
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
QTOP dispersion — data Q&A
Is QTOP's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -2.13% while its median constituent returned -3.18% — a dispersion of 8.46 pp; 35% of 31 members beat the fund. Broad decline - breadth is falling with price.
How did QTOP's members trade in the last session?
As of 2026-09-14: fund -0.89%, median member -0.39%, 15 advancers vs 16 decliners.
What does the dispersion page for QTOP 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. 31 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.