Constituent dispersion · breadth vs the index
XLF — Financial 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 | -1.84% | -0.71 | -9pp | -0.96pp | Confirming ↓ |
| 1 month | -2.11% | -1.51 | -6pp | -0.66pp | Confirming ↓ |
| 1 quarter | +7.30% | +2.87 | -10pp | -1.43pp | Confirming ↑ |
Over the last 126 sessions: price up +15.47%, breadth up (+7.63/name) · % beating 55→41 · median−ETF +1.02pp→-0.96pp.
Stocks above their moving average — participation breadth
Of the 76 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 76 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 | 33 (43%) | 15 (20%) | +18 |
| 1-Month | 3 (4%) | 8 (11%) | -5 |
| 3-Month | 0 (0%) | 0 (0%) | +0 |
| 6-Month | 0 (0%) | 0 (0%) | +0 |
| 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 | -0.38% | +0.39% | +0.78pp | 47 / 29 | 53 / 23 | 30 of 76 | ±2.17% |
| 5d | -1.84% | -1.92% | -0.07pp | 15 / 61 | 38 / 38 | 19 of 76 | ±2.46% |
| 21d | -2.11% | -3.07% | -0.96pp | 17 / 59 | 31 / 45 | 12 of 76 | ±5.66% |
| YTD | +4.66% | +5.02% | +0.36pp | 49 / 27 | 39 / 37 | 4 of 76 | ±16.99% |
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)
- BRK.B+0.90%+0.11pp
- V+1.30%+0.09pp
- MA+0.92%+0.05pp
- COIN+9.24%+0.04pp
- AJG+5.40%+0.04pp
- BAC-5.14%-0.25pp
- JPM-1.71%-0.19pp
- GS-3.96%-0.17pp
- MS-3.64%-0.12pp
- C-1.90%-0.06pp
This month (21d)
- V+2.69%+0.19pp
- BRK.B+1.58%+0.19pp
- HOOD+15.05%+0.15pp
- COIN+24.40%+0.11pp
- PGR+5.82%+0.09pp
- JPM-3.57%-0.41pp
- BAC-7.21%-0.35pp
- GS-5.20%-0.22pp
- BLK-9.91%-0.19pp
- MS-5.40%-0.18pp
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)
- COIN+24.40%
- HOOD+15.05%
- PGR+5.82%
- JKHY+5.58%
- CME+4.96%
- BX-14.08%
- FIS-13.48%
- AON-12.75%
- ARES-12.00%
- KKR-11.30%
XLF — constituent leadership race
$100 in each covered XLF 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 — 76 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| BRK.B Berkshire Hathaway Cl B | 11.80% | 514.95 | +0.90% | +1.76% | +1.58% | +2.45% | 86 |
| JPM JP Morgan Chase & Company | 11.38% | 350.13 | -1.71% | -2.37% | -3.57% | +9.71% | 45 |
| V Visa Inc | 7.13% | 375.28 | +1.30% | +0.06% | +2.69% | +7.23% | 91 |
| MA Mastercard Inc | 5.25% | 574.42 | +0.92% | -0.83% | +1.30% | +0.94% | 84 |
| BAC Bank of America Corp | 4.89% | 59.47 | -5.14% | -5.12% | -7.21% | +8.74% | 13 |
| GS Goldman Sachs Group | 4.19% | 988.45 | -3.96% | -4.83% | -5.20% | +13.04% | 24 |
| WFC Wells Fargo & Company | 3.41% | 88.71 | -1.75% | -1.40% | +0.68% | -4.35% | 82 |
| MS Morgan Stanley | 3.39% | 206.58 | -3.64% | -5.12% | -5.40% | +17.63% | 21 |
| C Citigroup Inc | 3.21% | 136.18 | -1.90% | -1.12% | -1.84% | +17.87% | 62 |
| AXP American Express Company | 2.29% | 327.78 | +0.95% | +0.50% | -4.62% | -10.92% | 32 |
| SCHW The Charles Schwab Corp | 2.00% | 107.31 | +0.06% | -1.81% | -2.21% | +7.77% | 57 |
| BLK Blackrock Inc | 1.96% | 1065.60 | -1.30% | -4.55% | -9.91% | +0.11% | 9 |
| SPGI S&P Global Inc | 1.69% | 418.54 | +1.91% | -5.63% | -0.98% | -19.54% | 64 |
| CB Chubb Ltd | 1.57% | 341.85 | +1.06% | +0.38% | -0.77% | +9.85% | 67 |
| PGR Progressive Corp | 1.57% | 221.02 | +1.56% | +0.95% | +5.82% | +3.28% | 96 |
| COF Capital One Financial Corp | 1.52% | 206.68 | -0.78% | -5.88% | -7.34% | -14.03% | 12 |
| BNY Bank of New York Mellon Corp | 1.30% | 157.66 | -3.07% | -4.36% | -2.83% | +36.95% | 55 |
| CME CME Group | 1.28% | 280.46 | +1.79% | +0.17% | +4.96% | +5.16% | 93 |
| PNC PNC Bank | 1.26% | 242.72 | -0.62% | -1.17% | -4.89% | +18.08% | 29 |
| BX Blackstone Inc | 1.21% | 128.29 | -0.17% | -5.77% | -14.08% | -15.02% | 0 |
| USB U.S. Bancorp | 1.21% | 62.68 | -0.25% | -1.09% | -3.82% | +18.68% | 43 |
| MRSH Marsh & Mclennan Companies | 1.07% | 180.43 | +1.99% | -2.86% | -4.38% | -1.75% | 38 |
| ICE Intercontinental Exchange | 1.05% | 157.75 | +0.22% | -2.18% | +1.62% | -2.28% | 87 |
| HOOD Robinhood Markets Inc Cl A | 0.97% | 114.33 | +1.56% | -6.37% | +15.05% | +1.09% | 97 |
| AON AON Plc | 0.95% | 311.54 | +2.92% | -3.57% | -12.75% | -11.29% | 3 |
| MCO Moody's Corp | 0.90% | 477.93 | +0.63% | -3.16% | -1.94% | -6.02% | 61 |
| KKR KKR & Company LP | 0.87% | 102.27 | +1.18% | -5.07% | -11.30% | -19.47% | 5 |
| TRV The Travelers Companies | 0.87% | 378.05 | +0.76% | +2.71% | +2.18% | +30.81% | 89 |
| TFC Truist Financial Corp | 0.86% | 50.10 | -0.60% | -3.00% | -4.52% | +3.92% | 37 |
| APO Apollo Asset Management | 0.82% | 128.31 | -0.52% | -4.01% | -10.26% | -10.63% | 8 |
| ALL Allstate Corp | 0.76% | 258.48 | +1.88% | -0.42% | -0.77% | +25.47% | 68 |
| AJG Arthur J. Gallagher & Company | 0.74% | 253.30 | +5.40% | -3.31% | -0.07% | -1.50% | 76 |
| AFL Aflac Inc | 0.72% | 117.01 | +1.50% | -0.17% | -2.89% | +7.23% | 54 |
| FITB Fifth Third Bancorp | 0.65% | 54.38 | -0.62% | -0.89% | -6.14% | +17.22% | 16 |
| MET Metlife Inc | 0.64% | 97.75 | +0.63% | +0.13% | +0.29% | +25.67% | 78 |
| STT State Street Corp | 0.62% | 188.16 | -2.71% | -3.14% | -0.89% | +47.79% | 66 |
| MSCI MSCI Inc | 0.58% | 553.65 | -0.17% | -3.38% | -3.41% | -2.77% | 47 |
| AMP Ameriprise Financial Services | 0.55% | 558.54 | +0.17% | -0.36% | -2.13% | +14.66% | 58 |
| IBKR Interactive Brokers | 0.53% | 90.75 | -0.68% | -2.02% | -0.73% | +41.41% | 71 |
| AIG American International Group | 0.53% | 76.29 | +1.27% | +0.10% | +0.34% | -10.30% | 79 |
| NDAQ Nasdaq Inc | 0.53% | 91.57 | +0.42% | -5.16% | -6.17% | -5.43% | 14 |
| PYPL Paypal Holdings | 0.50% | 54.03 | +0.58% | -1.69% | -10.83% | -7.17% | 7 |
| XYZ Block Inc | 0.50% | 79.49 | +0.35% | -3.95% | -4.33% | +22.12% | 39 |
| PRU Prudential Financial Inc | 0.50% | 119.50 | +0.22% | -2.07% | -4.21% | +8.78% | 42 |
| HIG The Hartford Insurance Group | 0.48% | 137.59 | +0.90% | -0.56% | -0.16% | +0.75% | 74 |
| COIN Coinbase Global Cl A | 0.47% | 191.45 | +9.24% | +3.69% | +24.40% | -15.34% | 99 |
| HBAN Huntington Bancshares | 0.47% | 16.77 | -0.53% | -1.53% | -5.63% | -2.36% | 20 |
| MTB M&T Bank Corp | 0.46% | 237.82 | -0.84% | -0.84% | -6.09% | +19.69% | 17 |
| ACGL Arch Capital Grp Ltd | 0.43% | 97.95 | +1.94% | -0.15% | -0.08% | +2.12% | 75 |
| NTRS Northern Trust Corp | 0.43% | 181.71 | -3.95% | -2.64% | -4.60% | +34.40% | 34 |
| CBOE CBOE Global Markets | 0.41% | 284.50 | +1.23% | -4.65% | -2.93% | +13.86% | 53 |
| FISV Fiserv Inc | 0.38% | 50.99 | -1.14% | -3.79% | -8.13% | -24.09% | 11 |
| CFG Citizens Financial Group | 0.38% | 70.54 | +0.09% | -0.34% | -4.82% | +22.49% | 30 |
| ARES Ares Management LP | 0.37% | 131.52 | -0.09% | -6.16% | -12.00% | -17.52% | 4 |
| RJF Raymond James Financial | 0.36% | 170.80 | -1.53% | -4.20% | -5.63% | +7.12% | 18 |
| CINF Cincinnati Financial | 0.35% | 172.02 | +1.31% | +0.54% | -0.38% | +5.95% | 72 |
| SYF Synchrony Financial | 0.34% | 75.88 | -0.14% | -5.06% | -5.24% | -8.31% | 22 |
| RF Regions Financial Corp | 0.33% | 30.03 | -0.33% | -1.28% | -5.15% | +12.95% | 25 |
| WTW Willis Towers Watson Public | 0.33% | 323.71 | +2.57% | -3.30% | -3.08% | -1.16% | 49 |
| CPAY Corpay Inc | 0.33% | 412.56 | +1.06% | -0.92% | -2.98% | +37.10% | 51 |
| TROW T Rowe Price Group | 0.31% | 105.80 | -0.46% | -3.63% | -4.94% | +4.88% | 26 |
| PFG Principal Financial Group | 0.29% | 116.90 | +0.63% | +0.19% | +1.71% | +34.78% | 88 |
| KEY Keycorp | 0.28% | 21.93 | +0.41% | -1.13% | -4.61% | +8.36% | 33 |
| WRB W.R. Berkley Corp | 0.27% | 70.87 | +1.39% | +2.50% | +0.57% | +2.11% | 80 |
| FIS Fidelity National Information Services | 0.27% | 38.18 | +0.10% | -7.80% | -13.48% | -42.06% | 1 |
| L Loews Corp | 0.24% | 109.20 | +0.38% | -0.09% | -3.07% | +3.81% | 50 |
| BRO Brown & Brown | 0.23% | 68.33 | +3.23% | -4.33% | -4.58% | -13.82% | 36 |
| GPN Global Payments Inc | 0.21% | 90.19 | +2.15% | -2.26% | -4.89% | +16.91% | 28 |
| EG Everest Re Group | 0.18% | 379.54 | +2.11% | +0.19% | +3.69% | +12.54% | 92 |
| GL Globe Life Inc | 0.17% | 172.92 | +1.02% | -0.77% | -4.29% | +24.17% | 41 |
| AIZ Assurant Inc | 0.17% | 283.27 | +0.29% | -0.86% | +0.84% | +18.09% | 83 |
| IVZ Invesco Limited | 0.17% | 31.51 | -2.39% | -4.72% | -1.98% | +21.86% | 59 |
| BEN Franklin Resources | 0.13% | 33.47 | -0.53% | -3.63% | -1.15% | +42.15% | 63 |
| JKHY Jack Henry & Assoc | 0.12% | 164.55 | +2.13% | -0.66% | +5.58% | -9.09% | 95 |
| FDS Factset Research Systems | 0.12% | 276.93 | +6.63% | -8.29% | -3.57% | -3.61% | 46 |
| ERIE Erie Indemnity Company | 0.08% | 253.88 | +3.61% | +0.43% | -0.76% | -10.45% | 70 |
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
XLF dispersion — data Q&A
Is XLF's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -2.11% while its median constituent returned -3.07% — a dispersion of 5.66 pp; 41% of 76 members beat the fund. Broad decline - breadth is falling with price.
How did XLF's members trade in the last session?
As of 2026-09-14: fund -0.38%, median member +0.39%, 47 advancers vs 29 decliners.
What does the dispersion page for XLF 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. 76 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.