Constituent dispersion · breadth vs the index
IGV — iShares Expanded Tech-Software
Concentration 38.16% in top 5 21.93 effective names · HHI 456
RS vs S&P 500 21d +2.38pp sector return − SPY
RS vs Nasdaq-100 21d +5.87pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +4.11% · A/D +179 (+1.63/name)
IGV price
Cumulative advance / decline of constituents — rises when more names are up than down; turns before price at inflections
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 | +7.16% | +1.83 | -3pp | -3.56pp | Confirming ↑ |
| 1 month | +4.11% | +1.63 | +0pp | -2.90pp | Confirming ↑ |
| 1 quarter | +12.48% | +2.37 | +14pp | +3.58pp | Confirming ↑ |
Over the last 126 sessions: price up +8.85%, breadth up (+4.76/name) · % beating 55→65 · median−ETF +1.94pp→+3.90pp.
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +3.00% | +2.61% | -0.39pp | 101 / 8 | 48 / 62 | 37 of 110 | ±2.68% |
| 5d | +7.16% | +6.81% | -0.35pp | 92 / 17 | 52 / 58 | 17 of 110 | ±7.16% |
| 21d | +4.11% | +7.96% | +3.84pp | 79 / 31 | 71 / 39 | 9 of 110 | ±12.68% |
| YTD | -7.81% | -13.44% | -5.63pp | 39 / 71 | 50 / 60 | 1 of 110 | ±40.13% |
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)
- ORCL+9.22%+0.85pp
- MSFT+4.93%+0.4pp
- CRWD+6.12%+0.37pp
- PANW+4.61%+0.35pp
- PLTR+2.10%+0.15pp
- FICO-6.90%-0.07pp
- CDNS-1.14%-0.04pp
- CRCL-3.61%-0.01pp
- MANH-2.15%-0.01pp
- TYL-1.31%-0.01pp
This month (21d)
- MSFT+24.88%+2.04pp
- CRM+11.94%+0.72pp
- ADBE+14.39%+0.53pp
- INTU+16.14%+0.47pp
- CRWD+4.41%+0.27pp
- APP-22.94%-1.11pp
- SNPS-10.31%-0.37pp
- CDNS-9.91%-0.36pp
- PLTR-2.82%-0.2pp
- FICO-17.73%-0.19pp
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)
- BLKB+47.46%
- RNG+43.21%
- SPSC+27.88%
- PCOR+25.68%
- MSFT+24.88%
- BB-25.98%
- APP-22.94%
- NN-18.67%
- FICO-17.73%
- ATEN-17.49%
IGV — constituent leadership race
$100 in each covered IGV constituent at 2025-12-30, rebased to 100. Watch leadership change hands.
0%
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 — 110 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ORCL Oracle Corp | 9.21% | 141.85 | +9.22% | +18.31% | +1.48% | -26.78% | 31 |
| MSFT Microsoft Corp | 8.19% | 487.65 | +4.93% | +25.33% | +24.88% | +1.06% | 95 |
| PANW Palo Alto Networks | 7.49% | 347.13 | +4.61% | +9.39% | -0.27% | +88.45% | 27 |
| PLTR Palantir Technologies Cl A | 7.18% | 125.65 | +2.10% | -4.47% | -2.82% | -29.31% | 22 |
| CRWD Crowdstrike Holdings | 6.06% | 202.54 | +6.12% | +12.45% | +4.41% | +72.83% | 37 |
| CRM Salesforce Inc | 6.05% | 185.95 | +1.05% | +7.11% | +11.94% | -29.63% | 62 |
| APP Applovin Corp Cl A | 4.82% | 406.16 | +2.59% | -1.59% | -22.94% | -39.72% | 1 |
| ADBE Adobe Systems Inc | 3.71% | 251.34 | +0.37% | +5.72% | +14.39% | -28.19% | 72 |
| CDNS Cadence Design Sys | 3.62% | 336.15 | -1.14% | -0.73% | -9.91% | +7.54% | 9 |
| NOW Servicenow Inc | 3.61% | 114.19 | +2.66% | +8.18% | +7.40% | -25.46% | 48 |
| SNPS Synopsys Inc | 3.57% | 392.07 | +0.85% | +0.79% | -10.31% | -16.53% | 8 |
| FTNT Fortinet Inc | 3.03% | 163.21 | +0.78% | +7.11% | +4.45% | +105.53% | 38 |
| INTU Intuit Inc | 2.92% | 318.39 | +0.73% | +4.76% | +16.14% | -51.70% | 76 |
| DDOG Datadog Inc Cl A | 2.65% | 273.60 | +2.10% | +8.63% | +5.09% | +101.19% | 42 |
| MSTR Strategy Inc | 1.92% | 94.86 | +1.69% | -3.84% | -5.86% | -37.57% | 15 |
| ADSK Autodesk Inc | 1.89% | 234.71 | +0.22% | +3.90% | +13.12% | -20.71% | 66 |
| EA Electronic Arts Inc | 1.69% | 209.91 | +0.02% | +0.40% | +2.29% | +2.83% | 32 |
| TTWO Take-Two Interactive | 1.54% | 245.15 | +0.92% | +0.49% | -3.86% | -4.25% | 20 |
| ROP Roper Industries | 1.28% | 392.57 | +0.15% | +4.68% | +8.06% | -11.40% | 51 |
| FICO Fair Isaac and Company | 1.08% | 1045.46 | -6.90% | -18.36% | -17.73% | -38.16% | 3 |
| WDAY Workday Inc | 0.96% | 165.05 | +2.94% | +11.87% | +21.90% | -23.15% | 89 |
| ZM Zoom Communications Inc | 0.95% | 98.25 | +2.27% | +7.71% | +12.74% | +13.86% | 65 |
| ZS Zscaler Inc | 0.65% | 154.46 | +2.16% | +4.86% | +4.84% | -31.33% | 41 |
| PTC Ptc Inc | 0.64% | 139.85 | +1.94% | +11.70% | +12.29% | -19.72% | 64 |
| TEAM Atlassian Corp | 0.52% | 103.71 | +2.67% | +8.18% | +23.70% | -36.04% | 93 |
| GEN Gen Digital Inc | 0.51% | 28.17 | +2.62% | +5.35% | +5.62% | +4.72% | 44 |
| TRMB Trimble Navigation | 0.49% | 57.79 | +2.14% | +3.62% | +8.96% | -26.24% | 53 |
| TYL Tyler Technologies | 0.49% | 305.54 | -1.31% | -3.27% | -3.95% | -32.69% | 18 |
| NTNX Nutanix Inc | 0.45% | 61.06 | +3.47% | +7.41% | +19.07% | +18.13% | 85 |
| DT Dynatrace Inc | 0.43% | 44.54 | +0.50% | +1.88% | -0.51% | +2.77% | 26 |
| GWRE Guidewire Software Inc | 0.43% | 157.33 | +3.55% | +5.39% | +17.00% | -21.73% | 81 |
| IOT Samsara Inc Cl A | 0.40% | 37.13 | -0.38% | +5.07% | +3.34% | +4.74% | 35 |
| HUBS Hubspot Inc | 0.39% | 239.92 | +1.08% | +7.58% | +24.88% | -40.21% | 95 |
| HUT Hut 8 Corp | 0.38% | 112.08 | +4.13% | +7.16% | +15.38% | +143.97% | 74 |
| RBRK Rubrik Inc Cl A | 0.37% | 74.74 | +3.29% | -0.11% | -10.64% | -2.28% | 7 |
| DOCU Docusign Inc | 0.36% | 55.13 | +0.55% | +4.20% | +20.45% | -19.40% | 85 |
| QBTS D-Wave Quantum Inc | 0.35% | 19.98 | +10.51% | +2.41% | -11.32% | -23.59% | 5 |
| BMNR Bitmine Immersion Technologies | 0.33% | 17.42 | +0.81% | -2.79% | +21.31% | -35.84% | 88 |
| AUR Aurora Innovation Inc Cl A | 0.33% | 6.79 | +5.27% | +9.34% | +2.41% | +76.82% | 33 |
| U Unity Software Inc | 0.33% | 33.38 | +5.27% | +9.66% | +13.85% | -24.43% | 71 |
| WULF Terawulf Inc | 0.32% | 18.83 | +6.63% | +4.73% | -11.10% | +63.88% | 6 |
| MANH Manhattan Assoc | 0.30% | 187.24 | -2.15% | +17.55% | +23.97% | +8.04% | 94 |
| RIOT Riot Platforms Inc | 0.29% | 21.42 | +6.20% | -2.50% | -3.12% | +69.06% | 21 |
| CORZ Core Scientific Inc | 0.29% | 22.83 | +10.18% | +10.08% | +6.53% | +56.80% | 45 |
| CWAN Clearwater Analytics Holdings Inc Cl A | 0.26% | 24.56 | +0.00% | +0.00% | +0.74% | +1.82% | 29 |
| IDCC Interdigital Inc | 0.25% | 309.23 | +1.44% | +19.27% | +10.17% | -2.44% | 56 |
| CIFR Cipher Digital Inc | 0.23% | 24.16 | +8.24% | +11.59% | +20.56% | +63.69% | 87 |
| SNAP Snap Inc | 0.23% | 5.04 | +7.46% | +11.50% | +4.13% | -37.55% | 35 |
| CRCL Circle Internet Group Inc Cl A | 0.23% | 60.35 | -3.61% | -8.10% | -6.61% | -23.90% | 14 |
| DSGX Descartes Sys Group | 0.23% | 76.59 | +1.90% | +7.75% | +5.21% | -12.63% | 43 |
| S Sentinelone Inc Cl A | 0.22% | 20.05 | +5.19% | +10.53% | +14.51% | +33.67% | 73 |
| OTEX Open Text Corp | 0.22% | 26.11 | +3.04% | +10.54% | +13.32% | -18.04% | 67 |
| PCOR Procore Technologies Inc | 0.21% | 55.26 | +0.89% | +18.63% | +25.68% | -24.03% | 96 |
| YOU Clear Secure Inc Cl A | 0.20% | 55.15 | -0.16% | +3.61% | +2.53% | +58.17% | 34 |
| MARA Mara Holdings Inc | 0.19% | 11.75 | +3.80% | -0.17% | -5.24% | +30.85% | 15 |
| ESTC Elastic N.V. | 0.18% | 68.74 | +4.48% | +12.25% | +18.44% | -8.88% | 83 |
| BSY Bentley Systems Inc Cl B | 0.18% | 35.89 | +1.27% | +6.47% | +11.25% | -5.61% | 59 |
| DBX Dropbox Inc | 0.18% | 33.05 | +1.50% | +8.22% | +15.72% | +18.88% | 75 |
| CVLT Commvault Systems | 0.17% | 124.93 | +6.05% | -16.41% | -16.70% | -0.34% | 5 |
| PATH Uipath Inc Cl A | 0.17% | 13.05 | +2.27% | +12.31% | +11.44% | -20.38% | 60 |
| ACIW Aci Worldwide Inc | 0.16% | 57.37 | +0.07% | -0.88% | +4.54% | +20.00% | 39 |
| CLSK Cleanspark Inc | 0.15% | 14.65 | +6.47% | +4.46% | +16.09% | +44.76% | 75 |
| APPF Appfolio Cl A | 0.15% | 191.69 | +6.38% | +13.60% | +12.17% | -17.61% | 63 |
| ZETA Zeta Global Holdings Corp Cl A | 0.14% | 22.56 | +4.44% | +8.78% | +8.99% | +10.86% | 54 |
| GTLB Gitlab Inc Cl A | 0.13% | 35.58 | +3.12% | +8.23% | +10.96% | -5.18% | 57 |
| BOX Box Inc | 0.13% | 31.70 | +0.48% | +5.14% | +13.66% | +5.98% | 69 |
| BB Blackberry Ltd | 0.13% | 8.52 | +0.24% | +1.19% | -25.98% | +124.80% | 0 |
| VRNS Varonis Systems Inc | 0.13% | 41.18 | +3.08% | -11.76% | -3.92% | +25.55% | 19 |
| QLYS Qualys Inc | 0.13% | 154.89 | +7.01% | +14.91% | +4.57% | +16.55% | 40 |
| TTAN Servicetitan Inc Cl A | 0.13% | 83.37 | +0.37% | +11.28% | +6.46% | -21.72% | 45 |
| DLB Dolby Laboratories | 0.12% | 59.73 | +1.56% | +16.50% | +16.77% | -5.90% | 80 |
| SOUN Soundhound AI Inc Cl A | 0.12% | 6.10 | -0.49% | -4.84% | -6.87% | -38.82% | 13 |
| BILL Bill Holdings Inc | 0.12% | 47.22 | +4.63% | +5.17% | +16.65% | -13.42% | 79 |
| RNG Ringcentral Inc | 0.12% | 57.30 | +3.02% | +6.70% | +43.21% | +99.07% | 98 |
| LIF Life360 Inc | 0.12% | 56.31 | +4.18% | +4.61% | -2.43% | -12.21% | 23 |
| PEGA Pegasystems Inc | 0.12% | 31.37 | +2.68% | +9.69% | +1.03% | -47.41% | 30 |
| TDC Teradata Corp | 0.11% | 32.09 | +3.55% | +7.72% | -7.15% | +5.42% | 12 |
| TENB Tenable Holdings Inc | 0.11% | 34.97 | +7.14% | +7.80% | -9.40% | +48.62% | 10 |
| ADEA Adeia Inc | 0.11% | 27.79 | +4.28% | +6.60% | -4.80% | +61.74% | 17 |
| QTWO Q2 Holdings Inc | 0.11% | 62.45 | +2.60% | +7.39% | +18.66% | -13.46% | 84 |
| CCC CCC Intelligent Solutions Hldgs Inc | 0.10% | 6.30 | +3.45% | +5.53% | +12.90% | -20.75% | 65 |
| WK Workiva Llc | 0.10% | 61.20 | +2.34% | +9.78% | +17.85% | -29.04% | 82 |
| RAMP Liveramp Holdings Inc | 0.09% | 37.89 | +0.05% | +0.19% | +0.42% | +29.01% | 28 |
| BRZE Braze Inc Cl A | 0.08% | 25.69 | +3.09% | +9.27% | +7.90% | -25.08% | 49 |
| ALRM Alarm.com | 0.08% | 55.54 | +1.44% | +3.58% | +11.77% | +8.86% | 61 |
| KVYO Klaviyo Inc Series A | 0.08% | 18.10 | +1.46% | +2.09% | +7.10% | -44.26% | 46 |
| AGYS Agilysys Inc | 0.08% | 109.68 | +4.30% | +6.24% | -1.02% | -7.71% | 25 |
| SPSC Sps Commerce Inc | 0.07% | 75.54 | +2.93% | +15.06% | +27.88% | -15.25% | 97 |
| ATEN A10 Networks Inc | 0.07% | 29.95 | +1.29% | -10.52% | -17.49% | +70.17% | 4 |
| NN Nextnav Inc | 0.07% | 13.24 | +0.99% | +4.42% | -18.67% | -20.43% | 2 |
| FRSH Freshworks Inc Cl A | 0.07% | 11.77 | +3.65% | +8.78% | +13.83% | -3.92% | 70 |
| FIVN Five9 Inc | 0.06% | 28.95 | +5.23% | +13.31% | +23.51% | +44.39% | 92 |
| NCNO Ncino Inc | 0.06% | 19.20 | +4.01% | +8.78% | +8.17% | -25.12% | 52 |
| AVPT Avepoint Inc Cl A | 0.05% | 13.36 | +2.53% | +4.29% | +16.58% | -3.82% | 78 |
| BL Blackline Inc | 0.05% | 32.78 | +4.39% | +6.91% | +9.71% | -40.71% | 55 |
| ALKT Alkami Technology Inc | 0.05% | 18.80 | +3.47% | +5.80% | -1.16% | -18.51% | 24 |
| PRGS Progress Software | 0.04% | 41.50 | +2.24% | +7.35% | +8.02% | -3.40% | 50 |
| AI C3.Ai Inc Cl A | 0.04% | 9.73 | +5.99% | +10.32% | +7.40% | -27.82% | 47 |
| INTA Intapp Inc | 0.04% | 33.40 | +2.17% | +13.41% | +21.94% | -27.11% | 90 |
| BLKB Blackbaud Inc | 0.04% | 44.37 | +3.67% | +28.42% | +47.46% | -29.93% | 99 |
| LSPD Lightspeed Commerce Inc | 0.04% | 10.27 | +1.58% | -0.39% | -4.91% | -14.98% | 16 |
| VERX Vertex Inc Cl A | 0.04% | 13.40 | +3.80% | +6.01% | +4.28% | -32.90% | 36 |
| VYX NCR Voyix Corporation | 0.03% | 8.64 | +4.47% | +5.24% | -0.69% | -15.29% | 25 |
| APPN Appian Corp Cl A | 0.03% | 27.71 | +2.78% | +8.45% | +13.57% | -21.77% | 68 |
| PD Pagerduty Inc | 0.02% | 11.10 | +4.91% | +13.73% | +11.22% | -15.33% | 58 |
| CXM Sprinklr Inc Cl A | 0.02% | 6.52 | +2.52% | +7.41% | +20.52% | -16.20% | 86 |
| ASAN Asana Inc Cl A | 0.02% | 8.53 | +2.52% | +10.06% | +16.21% | -37.78% | 77 |
| PAR Par Technology Corp | 0.02% | 17.34 | +2.30% | +4.90% | -8.98% | -52.21% | 11 |
| RPD Rapid7 Inc | 0.02% | 10.18 | +5.49% | +5.82% | +9.58% | -33.03% | 55 |
| NABL N-Able Inc | 0.01% | 5.06 | +8.12% | +15.79% | +23.11% | -32.35% | 91 |
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.