Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | +3.19% | +0.98 | -6pp | -4.02pp | Confirming ↑ |
| 1 month | -0.18% | +0.18 | +10pp | -0.08pp | Improving |
| 1 quarter | +13.16% | +1.24 | +23pp | +6.07pp | Confirming ↑ |
Over the last 126 sessions: price up +12.71%, breadth up (+2.96/name) · % beating 42→65 · median−ETF -1.73pp→+2.71pp.
Stocks above their moving average — participation breadth
Of the 49 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 2026-08-03.
New highs & new lows — by horizon
How many of the 49 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 | 20 (41%) | 7 (14%) | +13 |
| 1-Month | 11 (22%) | 2 (4%) | +9 |
| 3-Month | 6 (12%) | 0 (0%) | +6 |
| 6-Month | 4 (8%) | 0 (0%) | +4 |
| 52-Week | 3 (6%) | 0 (0%) | +3 |
| YTD | 4 (8%) | 0 (0%) | +4 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +1.29% | +0.79% | -0.50pp | 36 / 13 | 20 / 29 | 20 of 49 | ±2.8% |
| 5d | +3.19% | +3.17% | -0.02pp | 36 / 13 | 24 / 25 | 7 of 49 | ±7.9% |
| 21d | -0.18% | +2.53% | +2.71pp | 31 / 18 | 32 / 17 | 2 of 49 | ±12.16% |
| YTD | +10.71% | +5.75% | -4.96pp | 28 / 19 | 20 / 27 | 2 of 47 | ±54.92% |
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)
- CRWD+6.12%+0.18pp
- AXON+9.12%+0.16pp
- PANW+4.61%+0.13pp
- ALNY+7.21%+0.12pp
- META+6.02%+0.11pp
- MPWR-5.73%-0.15pp
- STX-2.93%-0.11pp
- MNST-2.94%-0.06pp
- AAPL-1.78%-0.04pp
- CDNS-1.14%-0.03pp
This month (21d)
- MSFT+24.88%+0.47pp
- DXCM+22.54%+0.41pp
- WDAY+21.90%+0.4pp
- ROST+18.50%+0.34pp
- ADBE+14.39%+0.25pp
- ARM-24.18%-1.21pp
- MU-14.96%-0.6pp
- KLAC-22.42%-0.54pp
- APP-22.94%-0.49pp
- ALNY-29.56%-0.48pp
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)
- MSFT+24.88%
- DXCM+22.54%
- WDAY+21.90%
- ROST+18.50%
- INTU+16.14%
- ALNY-29.56%
- ARM-24.18%
- APP-22.94%
- KLAC-22.42%
- LRCX-16.16%
QQEW — constituent leadership race
$100 in each covered QQEW 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 239.06 | -0.26% | -10.24% | -24.18% | +118.70% | 2 |
| MU Micron Technology | 3.98% | 829.50 | +0.79% | -7.85% | -14.96% | +190.76% | 10 |
| STX Seagate Technology Holdings | 3.80% | 831.06 | -2.93% | +1.72% | +1.33% | +202.30% | 43 |
| DDOG Datadog Inc Cl A | 3.29% | 273.60 | +2.10% | +8.63% | +5.09% | +101.19% | 67 |
| FTNT Fortinet Inc | 3.10% | 163.21 | +0.78% | +7.11% | +4.45% | +105.53% | 61 |
| CRWD Crowdstrike Holdings | 2.97% | 202.54 | +6.12% | +12.45% | +4.41% | +72.83% | 55 |
| PANW Palo Alto Networks | 2.89% | 347.13 | +4.61% | +9.39% | -0.27% | +88.45% | 33 |
| MPWR Monolithic Power Sys | 2.61% | 1344.37 | -5.73% | +0.40% | +4.36% | +48.62% | 53 |
| LRCX Lam Research Corp | 2.49% | 294.61 | +0.54% | +1.03% | -16.16% | +72.43% | 8 |
| CDNS Cadence Design Sys | 2.45% | 336.15 | -1.14% | -0.73% | -9.91% | +7.54% | 18 |
| KLAC K L A-Tencor Corp | 2.40% | 182.75 | -0.04% | -10.13% | -22.42% | — | 6 |
| AVGO Broadcom Ltd | 2.28% | 392.23 | +0.76% | +2.35% | +8.82% | +13.57% | 76 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1642.52 | +0.83% | -0.64% | -7.17% | +54.06% | 20 |
| NVDA Nvidia Corp | 2.14% | 206.64 | +2.93% | +5.15% | +6.06% | +10.93% | 69 |
| APP Applovin Corp Cl A | 2.13% | 406.16 | +2.59% | -1.59% | -22.94% | -39.72% | 4 |
| AAPL Apple Inc | 2.12% | 303.42 | -1.78% | -9.94% | -1.69% | +11.71% | 31 |
| MNST Monster Beverage Corp | 2.03% | 93.55 | -2.94% | -1.87% | -4.15% | +22.02% | 24 |
| SNPS Synopsys Inc | 1.99% | 392.07 | +0.85% | +0.79% | -10.31% | -16.53% | 16 |
| MSFT Microsoft Corp | 1.89% | 487.65 | +4.93% | +25.33% | +24.88% | +1.06% | 98 |
| ADP Automatic Data Processing | 1.87% | 269.78 | +1.25% | +5.80% | +11.36% | +5.75% | 82 |
| ROST Ross Stores Inc | 1.86% | 252.91 | +0.73% | +3.93% | +18.50% | +40.69% | 92 |
| WDAY Workday Inc | 1.84% | 165.05 | +2.94% | +11.87% | +21.90% | -23.15% | 94 |
| DXCM Dexcom Inc | 1.83% | 87.31 | +4.63% | +19.00% | +22.54% | +31.55% | 96 |
| PAYX Paychex Inc | 1.81% | 117.67 | +0.71% | +2.96% | +10.64% | +5.98% | 80 |
| META META Platforms Inc | 1.78% | 590.24 | +6.02% | -0.61% | +1.26% | -10.51% | 39 |
| ADBE Adobe Systems Inc | 1.76% | 251.34 | +0.37% | +5.72% | +14.39% | -28.19% | 86 |
| ABNB Airbnb Inc Cl A | 1.76% | 150.64 | -0.58% | +2.57% | +1.15% | +10.99% | 37 |
| AXON Axon Enterprise | 1.75% | 575.88 | +9.12% | +9.59% | -3.54% | +1.40% | 27 |
| DASH Doordash Inc Cl A | 1.72% | 200.50 | +2.21% | +8.75% | +4.42% | -11.47% | 59 |
| EA Electronic Arts Inc | 1.71% | 209.91 | +0.02% | +0.40% | +2.29% | +2.83% | 47 |
| MELI Mercadolibre Inc | 1.69% | 1898.79 | +1.11% | +4.34% | +7.68% | -5.73% | 71 |
| AMGN Amgen Inc | 1.68% | 378.87 | -1.63% | +0.69% | +1.26% | +16.55% | 41 |
| IDXX Idexx Laboratories | 1.65% | 567.84 | +1.57% | +2.09% | +1.80% | -16.07% | 45 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 220.33 | +7.21% | -20.86% | -29.56% | -44.59% | 0 |
| VRTX Vertex Pharmaceutic | 1.64% | 470.72 | -1.34% | -1.73% | -10.86% | +3.83% | 14 |
| BKNG Booking Holdings | 1.63% | 192.71 | -0.10% | +3.17% | +4.42% | — | 57 |
| PLTR Palantir Technologies Cl A | 1.59% | 125.65 | +2.10% | -4.47% | -2.82% | -29.31% | 29 |
| GILD Gilead Sciences Inc | 1.59% | 131.15 | +0.72% | +0.48% | -0.09% | +7.46% | 35 |
| ADSK Autodesk Inc | 1.59% | 234.71 | +0.22% | +3.90% | +13.12% | -20.71% | 84 |
| ROP Roper Industries | 1.58% | 392.57 | +0.15% | +4.68% | +8.06% | -11.40% | 73 |
| PDD Pdd Holdings Inc | 1.51% | 90.15 | +1.80% | +6.25% | +9.42% | -20.50% | 78 |
| VRSK Verisk Analytics Inc | 1.51% | 193.11 | -0.89% | -6.56% | +2.53% | -13.45% | 49 |
| ZS Zscaler Inc | 1.51% | 154.46 | +2.16% | +4.86% | +4.84% | -31.33% | 65 |
| NFLX Netflix Inc | 1.50% | 73.33 | +2.26% | +4.16% | -5.56% | -21.79% | 22 |
| ISRG Intuitive Surg Inc | 1.48% | 375.41 | +6.25% | +5.21% | -11.88% | -33.72% | 12 |
| REGN Regeneron Pharmaceuticals | 1.45% | 759.24 | -0.44% | +13.80% | +16.04% | -1.52% | 88 |
| INTU Intuit Inc | 1.12% | 318.39 | +0.73% | +4.76% | +16.14% | -51.70% | 90 |
| GOOGL Alphabet Cl A | 1.04% | 373.51 | +4.88% | +14.38% | +3.78% | +19.42% | 51 |
| GOOG Alphabet Cl C | 1.04% | 372.47 | +4.44% | +14.06% | +4.57% | +18.78% | 63 |
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.