Constituent dispersion · breadth vs the index
XLK — Technology 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 | -1.60% | -0.31 | +4pp | -0.23pp | Confirming ↓ |
| 1 month | -3.40% | -1.58 | -18pp | -5.31pp | Confirming ↓ |
| 1 quarter | -0.16% | +0.03 | -6pp | -0.84pp | Improving |
Over the last 126 sessions: price up +33.11%, breadth up (+6.06/name) · % beating 56→43 · median−ETF +0.62pp→-1.91pp.
Stocks above their moving average — participation breadth
Of the 72 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 72 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 | 25 (35%) | 30 (42%) | -5 |
| 1-Month | 8 (11%) | 11 (15%) | -3 |
| 3-Month | 3 (4%) | 6 (8%) | -3 |
| 6-Month | 2 (3%) | 0 (0%) | +2 |
| 52-Week | 2 (3%) | 0 (0%) | +2 |
| YTD | 2 (3%) | 0 (0%) | +2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -1.81% | -2.47% | -0.66pp | 28 / 44 | 34 / 38 | 7 of 72 | ±6.18% |
| 5d | -1.60% | -0.43% | +1.17pp | 33 / 39 | 42 / 30 | 6 of 72 | ±5.29% |
| 21d | -3.40% | -5.31% | -1.91pp | 24 / 48 | 31 / 41 | 5 of 72 | ±10.08% |
| YTD | +28.31% | +23.85% | -4.46pp | 48 / 24 | 32 / 40 | 1 of 72 | ±89.77% |
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)
- PANW+13.09%+0.19pp
- CRWD+13.85%+0.15pp
- MSFT+1.97%+0.15pp
- PLTR+3.64%+0.07pp
- FTNT+9.04%+0.05pp
- NVDA-3.36%-0.44pp
- MU-5.25%-0.37pp
- LRCX-8.29%-0.24pp
- AMD-4.40%-0.24pp
- AVGO-4.77%-0.23pp
This month (21d)
- AAPL+9.11%+1.03pp
- CRM+28.83%+0.29pp
- MSFT+1.91%+0.15pp
- QCOM+9.32%+0.14pp
- AMD+2.15%+0.12pp
- NVDA-6.36%-0.84pp
- AVGO-17.50%-0.83pp
- AMAT-20.56%-0.59pp
- LRCX-18.85%-0.55pp
- KLAC-19.15%-0.41pp
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)
- CRM+28.83%
- SWKS+13.62%
- NOW+11.87%
- QCOM+9.32%
- TYL+9.30%
- CIEN-27.81%
- AMAT-20.56%
- TER-19.81%
- JBL-19.33%
- KLAC-19.15%
XLK — constituent leadership race
$100 in each covered XLK 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 — 72 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| NVDA Nvidia Corp | 13.14% | 210.96 | -3.36% | -8.32% | -6.36% | +13.25% | 43 |
| AAPL Apple Inc | 11.26% | 333.08 | +0.24% | +4.10% | +9.11% | +22.63% | 90 |
| MSFT Microsoft Corp | 7.64% | 505.41 | +1.97% | +1.14% | +1.91% | +4.74% | 68 |
| MU Micron Technology | 7.09% | 924.03 | -5.25% | -9.10% | -2.72% | +223.89% | 61 |
| AMD Adv Micro Devices | 5.35% | 493.41 | -4.40% | +3.32% | +2.15% | +130.39% | 72 |
| AVGO Broadcom Ltd | 4.77% | 344.72 | -4.77% | -3.68% | -17.50% | -0.19% | 11 |
| INTC Intel Corp | 3.75% | 97.19 | -5.59% | +1.45% | -7.05% | +163.39% | 42 |
| CSCO Cisco Systems Inc | 3.07% | 110.06 | -1.85% | +0.79% | -3.01% | +44.42% | 60 |
| LRCX Lam Research Corp | 2.94% | 273.49 | -8.29% | -11.10% | -18.85% | +60.07% | 7 |
| AMAT Applied Materials | 2.89% | 424.21 | -7.07% | -6.71% | -20.56% | +65.27% | 1 |
| KLAC K L A-Tencor Corp | 2.14% | 169.09 | -6.39% | -8.90% | -19.15% | +39.68% | 6 |
| ORCL Oracle Corp | 2.00% | 144.79 | -3.65% | -8.81% | -7.32% | -25.26% | 40 |
| PLTR Palantir Technologies Cl A | 1.88% | 173.31 | +3.64% | -0.59% | -3.18% | -2.50% | 58 |
| SNDK Sandisk Corp | 1.88% | 1551.99 | -4.98% | -10.81% | +1.56% | +553.80% | 67 |
| TXN Texas Instruments | 1.75% | 263.42 | -1.97% | +1.93% | -3.66% | +52.83% | 56 |
| IBM Intl Business Machines | 1.63% | 249.09 | +2.38% | +6.05% | +5.04% | -15.43% | 79 |
| PANW Palo Alto Networks | 1.45% | 373.94 | +13.09% | +12.21% | -5.57% | +103.01% | 47 |
| QCOM Qualcomm Inc | 1.45% | 180.15 | -1.00% | +6.76% | +9.32% | +6.00% | 94 |
| ADI Analog Devices | 1.31% | 361.02 | -4.69% | -0.34% | -5.29% | +33.54% | 50 |
| STX Seagate Technology Holdings | 1.30% | 805.55 | -2.97% | -5.15% | -12.57% | +193.02% | 17 |
| WDC Western Digital Corp | 1.22% | 426.94 | -4.53% | -8.64% | -12.38% | +147.95% | 18 |
| APH Amphenol Corp | 1.21% | 78.55 | -6.40% | -5.11% | -5.22% | +16.66% | 51 |
| CRWD Crowdstrike Holdings | 1.10% | 235.38 | +13.85% | +10.46% | +4.37% | +100.85% | 78 |
| ANET Arista Networks Inc | 1.08% | 187.81 | -5.90% | -3.08% | -7.76% | +43.33% | 33 |
| CRM Salesforce Inc | 1.00% | 259.43 | +4.73% | +0.08% | +28.83% | -1.82% | 99 |
| GLW Corning Inc | 0.90% | 143.60 | -13.70% | -6.93% | -9.42% | +64.31% | 28 |
| APP Applovin Corp Cl A | 0.86% | 334.24 | +3.17% | +4.27% | +6.90% | -50.40% | 83 |
| DELL Dell Technologies Inc | 0.75% | 534.28 | -5.82% | +1.93% | +8.04% | +327.61% | 86 |
| NOW Servicenow Inc | 0.69% | 142.35 | +7.41% | +0.77% | +11.87% | -7.08% | 96 |
| CDNS Cadence Design Sys | 0.67% | 279.06 | -3.56% | -4.66% | -13.81% | -10.72% | 15 |
| ACN Accenture Plc | 0.67% | 195.00 | +6.04% | +4.43% | +9.25% | -26.28% | 92 |
| FTNT Fortinet Inc | 0.59% | 170.18 | +9.04% | +8.89% | +2.87% | +114.31% | 74 |
| SNPS Synopsys Inc | 0.56% | 381.43 | -4.01% | -3.15% | -7.36% | -18.80% | 38 |
| ADBE Adobe Systems Inc | 0.54% | 265.60 | +5.30% | -0.34% | -1.81% | -24.11% | 63 |
| INTU Intuit Inc | 0.49% | 339.15 | +5.47% | +1.94% | -5.34% | -48.55% | 49 |
| MPWR Monolithic Power Sys | 0.49% | 1143.24 | -7.39% | -6.59% | -16.10% | +26.39% | 13 |
| NXPI Nxp Semiconductors | 0.49% | 224.23 | -5.24% | -1.58% | -3.31% | +3.84% | 57 |
| DDOG Datadog Inc Cl A | 0.48% | 230.05 | +4.00% | +8.04% | -8.80% | +69.17% | 29 |
| COHR Coherent Corp | 0.46% | 266.50 | -12.73% | -5.45% | -18.56% | +44.39% | 8 |
| MSI Motorola Solutions | 0.44% | 474.13 | +1.71% | +1.30% | +1.95% | +24.02% | 69 |
| LITE Lumentum Holdings | 0.42% | 835.03 | -9.92% | -5.25% | -5.15% | +126.55% | 53 |
| HPE Hewlett Packard Enterprise | 0.41% | 55.41 | -10.76% | +6.56% | -7.37% | +132.17% | 36 |
| TER Teradyne Inc | 0.41% | 329.20 | -13.30% | -7.79% | -19.81% | +70.15% | 3 |
| CIEN Ciena Corp | 0.40% | 319.64 | -8.55% | -0.42% | -27.81% | +36.67% | 0 |
| TEL Te Connectivity Ltd | 0.40% | 203.37 | -4.05% | -2.53% | -4.92% | -9.99% | 54 |
| KEYS Keysight Technologies | 0.39% | 314.96 | -6.99% | -3.74% | -10.99% | +55.01% | 25 |
| MCHP Microchip Technology | 0.33% | 71.48 | -3.67% | -3.63% | -7.99% | +12.84% | 32 |
| ON On Semiconductor | 0.30% | 71.65 | -5.90% | -3.67% | -12.15% | +32.32% | 19 |
| ADSK Autodesk Inc | 0.27% | 228.93 | +7.78% | +5.06% | -11.25% | -22.66% | 22 |
| JBL Jabil Circuit | 0.26% | 298.72 | -6.09% | -3.82% | -19.33% | +31.08% | 4 |
| ROP Roper Industries | 0.23% | 394.61 | +1.57% | -3.11% | -0.73% | -10.94% | 65 |
| NTAP Netapp Inc | 0.21% | 188.28 | -5.52% | +1.45% | -8.15% | +77.57% | 31 |
| Q Qnity Electronics Inc | 0.20% | 117.23 | -7.25% | -2.69% | -17.79% | +43.74% | 10 |
| TDY Teledyne Technologies | 0.19% | 597.11 | -1.11% | -2.22% | -11.36% | +16.91% | 21 |
| FSLR First Solar Inc | 0.18% | 207.04 | -0.95% | +1.27% | -7.44% | -20.74% | 35 |
| FICO Fair Isaac and Company | 0.18% | 1001.50 | +1.63% | +7.43% | -9.83% | -40.76% | 26 |
| WDAY Workday Inc | 0.18% | 194.21 | +4.58% | -0.81% | -5.93% | -9.58% | 46 |
| CTSH Cognizant Tech Sol | 0.16% | 64.10 | +6.83% | +2.87% | +8.75% | -22.38% | 89 |
| HPQ HP Inc | 0.15% | 34.02 | -4.11% | +5.24% | +8.69% | +55.17% | 88 |
| VRSN Verisign Inc | 0.15% | 298.60 | +2.01% | +2.23% | +4.29% | +23.69% | 76 |
| FFIV F5 Inc | 0.14% | 411.49 | -0.05% | +5.38% | -1.08% | +61.20% | 64 |
| AKAM Akamai Technologies | 0.12% | 105.57 | -1.14% | +0.33% | -15.74% | +21.00% | 14 |
| CDW CDW Corp | 0.11% | 151.70 | -1.36% | -0.45% | +6.79% | +12.61% | 82 |
| SMCI Super Micro Computer | 0.10% | 36.74 | -8.38% | -7.20% | -6.18% | +25.52% | 44 |
| PTC Ptc Inc | 0.09% | 136.65 | +4.49% | -3.10% | -11.20% | -21.56% | 24 |
| GEN Gen Digital Inc | 0.09% | 31.41 | +3.80% | +2.48% | +6.69% | +16.76% | 81 |
| TYL Tyler Technologies | 0.08% | 359.54 | +6.79% | -1.23% | +9.30% | -20.80% | 93 |
| TRMB Trimble Navigation | 0.08% | 58.74 | +1.87% | -1.23% | +2.09% | -25.03% | 71 |
| ZBRA Zebra Technologies | 0.07% | 351.81 | +0.41% | -3.01% | -7.33% | +44.89% | 39 |
| SWKS Skyworks Solutions | 0.07% | 79.26 | -10.29% | +7.08% | +13.62% | +27.58% | 97 |
| IT Gartner Inc | 0.07% | 197.07 | +9.73% | +5.71% | +7.51% | -21.88% | 85 |
| GDDY Godaddy Inc | 0.07% | 104.47 | +6.53% | +3.12% | +3.95% | -15.80% | 75 |
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
XLK dispersion — data Q&A
Is XLK's move broad or carried by a few names (21 sessions)?
As of 2026-09-14: over 21 sessions the fund returned -3.40% while its median constituent returned -5.31% — a dispersion of 10.08 pp; 43% of 72 members beat the fund. Broad decline - breadth is falling with price.
How did XLK's members trade in the last session?
As of 2026-09-14: fund -1.81%, median member -2.47%, 28 advancers vs 44 decliners.
What does the dispersion page for XLK 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. 72 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.