Constituent dispersion · breadth vs the index
XLV — Health Care 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 | +2.64% | +0.64 | +19pp | +1.98pp | Confirming ↑ |
| 1 month | +9.82% | +2.2 | +3pp | +0.55pp | Confirming ↑ |
| 1 quarter | +12.13% | +0.59 | -10pp | -3.79pp | Confirming ↑ |
Over the last 126 sessions: price up +28.74%, breadth up (+5.37/name) · % beating 37→44 · median−ETF -4.34pp→-0.82pp.
Stocks above their moving average — participation breadth
Of the 59 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 59 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 | 10 (17%) | 6 (10%) | +4 |
| 1-Month | 8 (14%) | 0 (0%) | +8 |
| 3-Month | 6 (10%) | 0 (0%) | +6 |
| 6-Month | 6 (10%) | 0 (0%) | +6 |
| 52-Week | 5 (8%) | 0 (0%) | +5 |
| YTD | 5 (8%) | 0 (0%) | +5 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.29% | -0.28% | -0.57pp | 21 / 36 | 17 / 42 | 34 of 59 | ±1.65% |
| 5d | +2.64% | +2.84% | +0.20pp | 50 / 9 | 33 / 26 | 17 of 59 | ±4.12% |
| 21d | +9.82% | +9.00% | -0.82pp | 56 / 3 | 26 / 33 | 8 of 59 | ±7.24% |
| YTD | +22.52% | +22.04% | -0.48pp | 49 / 9 | 28 / 30 | 4 of 58 | ±27.21% |
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)
- LLY+1.44%+0.23pp
- UNH+1.89%+0.12pp
- CVS+4.41%+0.1pp
- ELV+2.73%+0.04pp
- MCK+2.19%+0.04pp
- ISRG-2.28%-0.06pp
- JNJ-0.47%-0.05pp
- MRK-0.48%-0.03pp
- MDT-1.17%-0.02pp
- MRNA-6.75%-0.02pp
This month (21d)
- LLY+21.11%+3.41pp
- JNJ+6.46%+0.67pp
- UNH+7.03%+0.47pp
- AMGN+11.41%+0.39pp
- GILD+13.59%+0.38pp
- DXCM-6.98%-0.04pp
- DVA-1.38%0pp
- RMD-0.21%0pp
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)
- IDXX+32.96%
- ALGN+24.10%
- GEHC+23.49%
- LLY+21.11%
- EW+20.40%
- DXCM-6.98%
- DVA-1.38%
- RMD-0.21%
- TECH+0.36%
- HUM+1.05%
XLV — constituent leadership race
$100 in each covered XLV 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 — 59 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LLY Eli Lilly and Company | 16.15% | 1432.29 | +1.44% | +1.63% | +21.11% | +33.50% | 93 |
| JNJ Johnson & Johnson | 10.44% | 280.78 | -0.47% | +5.49% | +6.46% | +36.40% | 34 |
| ABBV Abbvie Inc | 7.24% | 293.89 | +0.20% | +2.76% | +5.18% | +30.73% | 25 |
| UNH Unitedhealth Group | 6.62% | 405.12 | +1.89% | +0.17% | +7.03% | +23.68% | 41 |
| MRK Merck & Company | 5.28% | 148.05 | -0.48% | +2.34% | +1.79% | +41.69% | 8 |
| AMGN Amgen Inc | 3.44% | 465.23 | +0.00% | +0.86% | +11.41% | +43.12% | 64 |
| TMO Thermo Fisher Scientific | 3.17% | 718.20 | -0.48% | +2.84% | +8.45% | +24.07% | 47 |
| GILD Gilead Sciences Inc | 2.78% | 170.87 | +0.92% | +2.03% | +13.59% | +40.00% | 73 |
| ABT Abbott Laboratories | 2.76% | 110.46 | -0.05% | +0.97% | +9.15% | -10.83% | 53 |
| PFE Pfizer Inc | 2.68% | 29.36 | +0.44% | -0.70% | +3.38% | +19.89% | 19 |
| ISRG Intuitive Surg Inc | 2.63% | 450.04 | -2.28% | +2.11% | +5.24% | -20.54% | 27 |
| CVS CVS Corp | 2.33% | 89.01 | +4.41% | -2.63% | +2.17% | +14.08% | 14 |
| BMY Bristol-Myers Squibb Company | 2.09% | 62.80 | +1.06% | +1.77% | +9.07% | +19.02% | 51 |
| DHR Danaher Corp | 2.04% | 236.11 | +0.42% | +2.61% | +6.74% | +3.36% | 37 |
| VRTX Vertex Pharmaceutic | 2.03% | 547.89 | -0.54% | +3.23% | +8.07% | +20.85% | 46 |
| SYK Stryker Corp | 1.93% | 324.29 | -0.44% | +4.42% | +14.75% | -7.48% | 78 |
| MDT Medtronic Inc | 1.85% | 101.59 | -1.17% | +2.74% | +10.51% | +6.62% | 61 |
| MCK Mckesson Corp | 1.73% | 1082.59 | +2.19% | +8.30% | +13.27% | +32.23% | 71 |
| ELV Elevance Health Inc | 1.60% | 429.65 | +2.73% | +3.84% | +1.79% | +23.32% | 10 |
| CI The Cigna Group | 1.41% | 303.13 | +2.55% | +2.60% | +6.98% | +11.39% | 39 |
| BSX Boston Scientific Corp | 1.25% | 44.70 | +1.54% | +2.76% | +1.96% | -53.12% | 12 |
| REGN Regeneron Pharmaceuticals | 1.11% | 916.06 | -0.42% | -5.89% | +20.09% | +18.82% | 90 |
| HCA Hca Holdings Inc | 1.09% | 504.42 | -0.09% | +8.98% | +9.99% | +8.21% | 56 |
| COR Cencora Inc | 0.99% | 348.71 | +0.85% | +2.41% | +7.28% | +3.66% | 42 |
| CAH Cardinal Health | 0.95% | 276.79 | +0.91% | +9.43% | +16.26% | +35.35% | 80 |
| EW Edwards Lifesciences Corp | 0.89% | 104.01 | -0.67% | +9.27% | +20.40% | +22.01% | 92 |
| HUM Humana Inc | 0.82% | 438.06 | +3.51% | +4.83% | +1.05% | +71.90% | 7 |
| IDXX Idexx Laboratories | 0.81% | 696.64 | -1.42% | +3.66% | +32.96% | +2.97% | 98 |
| BDX Becton Dickinson and Company | 0.75% | 212.61 | -1.23% | +7.29% | +12.56% | +40.24% | 69 |
| A Agilent Technologies | 0.66% | 177.88 | -1.27% | +1.38% | +3.82% | +31.26% | 20 |
| WAT Waters Corp | 0.63% | 475.52 | -0.25% | +3.40% | +10.05% | +25.19% | 58 |
| ZTS Zoetis Inc Cl A | 0.60% | 82.46 | +0.17% | -0.64% | +9.00% | -33.90% | 49 |
| IQV Iqvia Holdings Inc | 0.55% | 275.15 | -1.32% | +4.78% | +4.93% | +22.07% | 24 |
| CNC Centene Corp | 0.55% | 70.19 | +2.41% | +4.02% | +4.73% | +70.57% | 22 |
| GEHC GE Healthcare Technologies | 0.53% | 83.65 | -0.45% | +3.71% | +23.49% | +2.08% | 95 |
| BIIB Biogen Inc | 0.53% | 253.25 | -0.64% | +1.74% | +10.39% | +43.90% | 59 |
| DXCM Dexcom Inc | 0.52% | 79.92 | -1.42% | -3.68% | -6.98% | +20.42% | 0 |
| RMD Resmed Inc | 0.51% | 234.11 | -0.69% | +3.10% | -0.21% | -2.29% | 3 |
| VEEV Veeva Systems Inc | 0.43% | 305.55 | -0.28% | +0.77% | +3.28% | +36.88% | 17 |
| WST West Pharmaceutical Services | 0.43% | 412.55 | -0.13% | +1.43% | +12.23% | +50.19% | 68 |
| MTD Mettler-Toledo International | 0.41% | 1751.38 | -0.62% | +3.14% | +12.05% | +25.62% | 66 |
| DGX Quest Diagnostics Inc | 0.40% | 258.44 | -0.47% | +4.61% | +11.09% | +50.26% | 63 |
| LH Laboratory Corp of America | 0.40% | 370.88 | -0.26% | +4.79% | +17.55% | +48.61% | 86 |
| STE Steris Corp | 0.37% | 257.12 | +0.07% | +11.14% | +17.42% | +1.68% | 85 |
| VTRS Viatris Inc | 0.34% | 20.85 | +1.76% | +10.20% | +18.87% | +70.14% | 88 |
| INCY Incyte Corp | 0.33% | 120.30 | -1.30% | +2.30% | +8.03% | +21.80% | 44 |
| ZBH Zimmer Biomet Holdings | 0.32% | 107.32 | -0.93% | +10.57% | +16.44% | +19.67% | 81 |
| MRNA Moderna Inc | 0.31% | 250.83 | -6.75% | +9.80% | +17.35% | — | 83 |
| COO Cooper Companies | 0.24% | 63.57 | -0.56% | +4.50% | +14.44% | -22.44% | 75 |
| ALGN Align Technology | 0.21% | 174.26 | +0.00% | +14.96% | +24.10% | +11.60% | 97 |
| SOLV Solventum Corporation | 0.21% | 90.08 | -0.39% | +6.28% | +5.59% | +13.68% | 31 |
| RVTY Revvity Inc | 0.20% | 159.10 | -1.01% | -2.68% | +2.24% | +64.67% | 15 |
| BAX Baxter International | 0.19% | 26.42 | +0.04% | +3.65% | +6.62% | +38.39% | 36 |
| PODD Insulet Corp | 0.19% | 148.06 | -1.17% | -4.39% | +5.90% | -47.91% | 32 |
| CRL Charles River Laboratories | 0.17% | 345.80 | -2.13% | -1.73% | +14.56% | +73.35% | 76 |
| TECH Bio-Techne Corp | 0.15% | 72.82 | -0.01% | +0.22% | +0.36% | +24.22% | 5 |
| HSIC Henry Schein Inc | 0.15% | 88.74 | +0.37% | +7.56% | +5.35% | +17.41% | 29 |
| UHS Universal Health Services | 0.15% | 195.41 | -0.89% | +10.32% | +9.27% | -10.28% | 54 |
| DVA Davita Healthcare Partners | 0.13% | 179.28 | -3.37% | -1.59% | -1.38% | +57.80% | 2 |
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
XLV dispersion — data Q&A
Is XLV's move broad or carried by a few names (21 sessions)?
As of 2026-11-10: over 21 sessions the fund returned +9.82% while its median constituent returned +9.00% — a dispersion of 7.24 pp; 44% of 59 members beat the fund. Broad advance - breadth is rising with price.
How did XLV's members trade in the last session?
As of 2026-11-10: fund +0.29%, median member -0.28%, 21 advancers vs 36 decliners.
What does the dispersion page for XLV 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. 59 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.