Constituent dispersion · breadth vs the index
XLB — Materials Select Sector
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 | -3.72% | -2.38 | +7pp | -0.24pp | Confirming ↓ |
| 1 month | -3.48% | -3.15 | -20pp | -4.91pp | Confirming ↓ |
| 1 quarter | -2.87% | -2.58 | -27pp | -4.05pp | Confirming ↓ |
Over the last 126 sessions: price up +1.75%, breadth down (-4.19/name) · % beating 50→38 · median−ETF -0.83pp→-2.77pp.
Stocks above their moving average — participation breadth
Of the 26 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 26 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 | 1 (4%) | 16 (62%) | -15 |
| 1-Month | 0 (0%) | 7 (27%) | -7 |
| 3-Month | 0 (0%) | 3 (12%) | -3 |
| 6-Month | 0 (0%) | 2 (8%) | -2 |
| 52-Week | 0 (0%) | 1 (4%) | -1 |
| YTD | 0 (0%) | 1 (4%) | -1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.90% | -0.52% | +0.38pp | 5 / 21 | 15 / 11 | 16 of 26 | ±1.16% |
| 5d | -3.72% | -3.25% | +0.46pp | 0 / 26 | 14 / 12 | 10 of 26 | ±2.05% |
| 21d | -3.48% | -6.25% | -2.77pp | 6 / 20 | 10 / 16 | 1 of 26 | ±8.09% |
| YTD | +11.83% | +13.77% | +1.94pp | 19 / 6 | 13 / 12 | 0 of 25 | ±24.19% |
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)
- SW+1.23%+0.03pp
- BALL+1.35%+0.02pp
- CRH+0.49%+0.02pp
- SHW+0.37%+0.02pp
- AVY+0.91%+0.01pp
- NEM-2.95%-0.19pp
- FCX-2.43%-0.14pp
- NUE-1.85%-0.12pp
- STLD-2.19%-0.1pp
- MLM-1.77%-0.07pp
This month (21d)
- NEM+7.78%+0.51pp
- CTVA+8.91%+0.37pp
- CF+12.70%+0.26pp
- FCX+3.76%+0.22pp
- MOS+15.01%+0.13pp
- STLD-9.98%-0.47pp
- VMC-9.72%-0.44pp
- SHW-10.04%-0.44pp
- NUE-6.49%-0.43pp
- LIN-2.88%-0.42pp
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)
- MOS+15.01%
- CF+12.70%
- CTVA+8.91%
- NEM+7.78%
- FCX+3.76%
- IP-15.76%
- DD-13.75%
- ALB-11.84%
- SW-11.74%
- SHW-10.04%
XLB — constituent leadership race
$100 in each covered XLB constituent at 2025-12-24, 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 — 26 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LIN Linde Plc | 14.61% | 464.41 | -0.39% | -2.76% | -2.88% | +9.28% | 62 |
| NUE Nucor Corp | 6.64% | 254.63 | -1.85% | -2.47% | -6.49% | +56.64% | 46 |
| NEM Newmont Mining Corp | 6.53% | 123.07 | -2.95% | -3.92% | +7.78% | +23.79% | 85 |
| FCX Freeport-Mcmoran Inc | 5.87% | 69.34 | -2.43% | -4.66% | +3.76% | +37.16% | 81 |
| STLD Steel Dynamics Inc | 4.67% | 234.53 | -2.19% | -3.11% | -9.98% | +38.83% | 19 |
| VMC Vulcan Materials Company | 4.55% | 250.54 | -0.87% | -4.60% | -9.72% | -11.82% | 23 |
| CRH CRH Plc ADR | 4.38% | 88.98 | +0.49% | -5.60% | -8.56% | -28.19% | 35 |
| SHW Sherwin-Williams Company | 4.37% | 324.50 | +0.37% | -2.76% | -10.04% | +0.37% | 15 |
| APD Air Products and Chemicals | 4.34% | 287.13 | -1.48% | -4.69% | -6.02% | +17.82% | 50 |
| CTVA Corteva Inc | 4.15% | 82.54 | -1.62% | -6.06% | +8.91% | +23.70% | 88 |
| MLM Martin Marietta Materials | 4.14% | 500.92 | -1.77% | -2.69% | -8.05% | -19.34% | 42 |
| ECL Ecolab Inc | 4.10% | 275.51 | -0.24% | -1.35% | -0.27% | +5.23% | 73 |
| PPG PPG Industries | 3.22% | 105.25 | -0.24% | -6.47% | -8.26% | +3.99% | 38 |
| DOW Dow Inc | 2.92% | 28.90 | -0.45% | -1.83% | -4.81% | +26.35% | 58 |
| SW Smurfit Westrock Plc | 2.72% | 43.75 | +1.23% | -4.54% | -11.74% | +15.44% | 12 |
| PKG Packaging Corp of America | 2.44% | 233.26 | -0.49% | -1.68% | -9.26% | +13.77% | 27 |
| ALB Albemarle Corp | 2.41% | 115.03 | -2.12% | -8.60% | -11.84% | -18.47% | 8 |
| IFF International Flavors & Fragrances | 2.41% | 83.43 | -0.22% | -3.38% | -0.75% | +24.53% | 69 |
| DD Dupont Denemours Inc | 2.37% | 124.29 | -2.13% | -5.55% | -13.75% | +3.88% | 4 |
| IP International Paper Company | 2.29% | 34.25 | -0.32% | -8.03% | -15.76% | -10.87% | 0 |
| AMCR Amcor Plc | 2.26% | 42.25 | -0.17% | -6.42% | -8.90% | — | 31 |
| CF Cf Industries Holdings | 2.05% | 131.24 | -1.38% | -1.58% | +12.70% | +71.29% | 92 |
| LYB Lyondellbasell Industries NV | 2.00% | 62.75 | -1.48% | -1.21% | +0.56% | +48.21% | 77 |
| BALL Ball Corporation | 1.84% | 60.71 | +1.35% | -3.13% | -1.97% | +15.38% | 65 |
| AVY Avery Dennison Corp | 1.48% | 170.92 | +0.91% | -2.36% | -5.05% | -4.96% | 54 |
| MOS Mosaic Company | 0.87% | 25.05 | -0.56% | -2.27% | +15.01% | +5.93% | 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
XLB dispersion — data Q&A
Is XLB's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -3.48% while its median constituent returned -6.25% — a dispersion of 8.09 pp; 38% of 26 members beat the fund. Broad decline - breadth is falling with price.
How did XLB's members trade in the last session?
As of 2026-09-14: fund -0.90%, median member -0.52%, 5 advancers vs 21 decliners.
What does the dispersion page for XLB 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. 26 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.