Constituent dispersion · breadth vs the index
CIBR — First Trust Nasdaq Cybersecurity
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 | +7.97% | +1.24 | -12pp | -1.33pp | Confirming ↑ |
| 1 month | +4.33% | -1.24 | -7pp | +1.34pp | Weakening |
| 1 quarter | +20.79% | +2.32 | -16pp | -3.04pp | Confirming ↑ |
Over the last 126 sessions: price up +56.11%, breadth up (+7.29/name) · % beating 44→39 · median−ETF -1.55pp→-1.22pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +1.36% | +1.30% | -0.06pp | 34 / 7 | 20 / 21 | 19 of 41 | ±1.61% |
| 5d | +7.97% | +6.44% | -1.52pp | 39 / 2 | 15 / 26 | 5 of 41 | ±5.4% |
| 21d | +4.33% | +3.11% | -1.22pp | 27 / 14 | 16 / 25 | 5 of 41 | ±8.25% |
| YTD | +42.53% | +33.86% | -8.67pp | 31 / 9 | 18 / 22 | 0 of 40 | ±44.88% |
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)
- CSCO+2.32%+0.21pp
- CRWD+1.80%+0.19pp
- AVGO+2.29%+0.16pp
- NET+2.86%+0.12pp
- AKAM+2.49%+0.09pp
- GEN-1.44%-0.03pp
- CHKP-1.06%-0.02pp
- PANW-0.16%-0.02pp
- QLYS-2.72%-0.02pp
- HO.FP-1.08%-0.01pp
This month (21d)
- CRWD+15.40%+1.62pp
- OKTA+32.03%+0.94pp
- FTNT+9.22%+0.87pp
- NET+10.81%+0.46pp
- FFIV+10.42%+0.32pp
- AVGO-8.61%-0.62pp
- AKAM-7.05%-0.25pp
- DDOG-4.07%-0.12pp
- CSCO-1.23%-0.11pp
- HO.FP-8.28%-0.1pp
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)
- OKTA+32.03%
- CRWD+15.40%
- DT+13.34%
- NET+10.81%
- FFIV+10.42%
- ATO.FP-10.75%
- LDOS-8.73%
- AVGO-8.61%
- HO.FP-8.28%
- FSLY-7.60%
CIBR — constituent leadership race
$100 in each covered CIBR 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 — 41 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CRWD Crowdstrike Holdings | 10.55% | 245.70 | +1.80% | +17.64% | +15.40% | +109.66% | 95 |
| PANW Palo Alto Networks | 10.24% | 375.06 | -0.16% | +10.80% | +0.25% | +103.62% | 34 |
| FTNT Fortinet Inc | 9.41% | 172.58 | +0.47% | +8.64% | +9.22% | +117.33% | 78 |
| CSCO Cisco Systems Inc | 8.93% | 110.24 | +2.32% | +2.61% | -1.23% | +44.66% | 29 |
| AVGO Broadcom Ltd | 7.16% | 347.30 | +2.29% | -3.75% | -8.61% | +0.56% | 5 |
| NET Cloudflare Inc Cl A | 4.26% | 333.94 | +2.86% | +7.32% | +10.81% | +69.38% | 90 |
| AKAM Akamai Technologies | 3.54% | 107.08 | +2.49% | -0.05% | -7.05% | +22.73% | 15 |
| FFIV F5 Inc | 3.03% | 434.62 | +2.60% | +9.07% | +10.42% | +70.27% | 88 |
| DDOG Datadog Inc Cl A | 2.97% | 236.00 | +2.26% | +6.44% | -4.07% | +73.54% | 22 |
| OKTA Okta Inc Cl A | 2.94% | 190.02 | +1.01% | +11.05% | +32.03% | +119.75% | 98 |
| NTAP Netapp Inc | 2.46% | 196.92 | +2.84% | +7.25% | -3.81% | +85.73% | 24 |
| ZS Zscaler Inc | 2.44% | 197.47 | +3.07% | +20.79% | +6.34% | -12.20% | 68 |
| GEN Gen Digital Inc | 2.23% | 30.21 | -1.44% | +0.80% | +9.30% | +12.30% | 80 |
| CHKP Check Point Software | 2.11% | 136.23 | -1.06% | +4.38% | +4.54% | -26.58% | 61 |
| RBRK Rubrik Inc Cl A | 1.90% | 107.83 | +2.71% | +21.28% | +7.24% | +40.99% | 71 |
| FROG Jfrog Ltd | 1.81% | 93.98 | +1.47% | +6.01% | +2.60% | +50.46% | 46 |
| IBM Intl Business Machines | 1.71% | 237.75 | +0.11% | +1.59% | +2.18% | -19.28% | 44 |
| ANET Arista Networks Inc | 1.70% | 199.53 | +1.01% | +5.58% | +3.29% | +52.28% | 51 |
| DT Dynatrace Inc | 1.64% | 55.83 | +1.16% | +8.58% | +13.34% | +28.82% | 93 |
| GOOGL Alphabet Cl A | 1.63% | 347.33 | +1.30% | +4.43% | +0.91% | +11.05% | 39 |
| MSFT Microsoft Corp | 1.49% | 497.75 | +1.52% | +1.08% | +3.54% | +3.16% | 54 |
| BAH Booz Allen Hamilton Holding Corp | 1.36% | 78.89 | +0.61% | +4.24% | +4.13% | -5.77% | 56 |
| HO.FP Thales | 1.21% | 238.30 | -1.08% | +5.86% | -8.28% | +3.70% | 7 |
| INFY Infosys Ltd ADR | 1.19% | 11.07 | -0.09% | +1.47% | -6.42% | -36.54% | 17 |
| ACN Accenture Plc | 1.17% | 190.29 | +0.34% | +6.96% | +10.04% | -28.06% | 85 |
| BB Blackberry Ltd | 1.10% | 7.94 | +3.93% | +5.31% | -7.46% | +109.50% | 12 |
| LDOS Leidos Holdings Inc | 0.97% | 130.96 | +1.24% | +1.42% | -8.73% | -27.23% | 2 |
| ESTC Elastic N.V. | 0.94% | 88.97 | +4.63% | +6.58% | +4.66% | +17.93% | 63 |
| OTEX.TO Open Text Corporation | 0.93% | 32.93 | +0.55% | +5.31% | -1.94% | -24.66% | 27 |
| S Sentinelone Inc Cl A | 0.88% | 23.19 | +0.09% | +17.06% | +3.11% | +54.60% | 49 |
| SAIC Science Applications International | 0.81% | 133.65 | +0.78% | +3.80% | +6.11% | +33.73% | 66 |
| CVLT Commvault Systems | 0.77% | 148.79 | +2.47% | +13.11% | +4.19% | +18.69% | 59 |
| VRNS Varonis Systems Inc | 0.60% | 47.81 | +2.25% | +5.08% | +9.35% | +45.76% | 83 |
| QLYS Qualys Inc | 0.57% | 178.08 | -2.72% | +10.22% | -5.27% | +34.00% | 20 |
| TENB Tenable Holdings Inc | 0.50% | 36.06 | -0.85% | +12.58% | -0.77% | +53.25% | 32 |
| FSLY Fastly Inc | 0.47% | 24.57 | +4.38% | +8.19% | -7.60% | — | 10 |
| NTCT Netscout Systems | 0.43% | 39.27 | +1.97% | +4.89% | +0.85% | +45.12% | 37 |
| ATEN A10 Networks Inc | 0.30% | 26.95 | +1.54% | +10.50% | +1.32% | +53.12% | 41 |
| ZD Ziff Davis Inc | 0.26% | 59.13 | +0.65% | +6.95% | +7.33% | +68.22% | 73 |
| RDWR Radware Ltd | 0.19% | 30.55 | +3.74% | +9.11% | +8.68% | +26.82% | 76 |
| ATO.FP Atos Se | 0.16% | 25.58 | +0.16% | +2.24% | -10.75% | -49.01% | 0 |
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
CIBR dispersion — data Q&A
Is CIBR's move broad or carried by a few names (21 sessions)?
As of 2026-09-17: over 21 sessions the fund returned +4.33% while its median constituent returned +3.11% — a dispersion of 8.25 pp; 39% of 41 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did CIBR's members trade in the last session?
As of 2026-09-17: fund +1.36%, median member +1.30%, 34 advancers vs 7 decliners.
What does the dispersion page for CIBR 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. 41 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.