Constituent dispersion · breadth vs the index
QTEC — First Trust Nasdaq-100 Technology
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 | +2.40% | +0.38 | -4pp | -1.68pp | Confirming ↑ |
| 1 month | -3.58% | -0.71 | +9pp | +3.06pp | Confirming ↓ |
| 1 quarter | +11.85% | +0.02 | +18pp | +8.98pp | Confirming ↑ |
Over the last 126 sessions: price up +27.44%, breadth up (+3.31/name) · % beating 40→58 · median−ETF -5.70pp→+1.89pp.
Stocks above their moving average — participation breadth
Of the 45 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 45 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 | 17 (38%) | 4 (9%) | +13 |
| 1-Month | 7 (16%) | 3 (7%) | +4 |
| 3-Month | 2 (4%) | 2 (4%) | +0 |
| 6-Month | 1 (2%) | 0 (0%) | +1 |
| 52-Week | 0 (0%) | 0 (0%) | +0 |
| YTD | 1 (2%) | 0 (0%) | +1 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +1.74% | +0.89% | -0.85pp | 33 / 12 | 20 / 25 | 17 of 45 | ±2.56% |
| 5d | +2.40% | +1.03% | -1.37pp | 27 / 18 | 20 / 25 | 3 of 45 | ±8.11% |
| 21d | -3.58% | -1.69% | +1.89pp | 21 / 24 | 26 / 19 | 2 of 45 | ±13.73% |
| YTD | +31.92% | +12.64% | -19.28pp | 27 / 17 | 18 / 26 | 0 of 44 | ±92.62% |
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)
- MRVL+3.31%+0.18pp
- CRWD+6.12%+0.16pp
- SNDK+6.03%+0.16pp
- PANW+4.61%+0.12pp
- META+6.02%+0.1pp
- MPWR-5.73%-0.13pp
- STX-2.93%-0.1pp
- WDC-3.23%-0.1pp
- TXN-2.43%-0.06pp
- NXPI-2.18%-0.06pp
This month (21d)
- MSFT+24.88%+0.42pp
- CTSH+31.39%+0.41pp
- WDAY+21.90%+0.36pp
- ADBE+14.39%+0.23pp
- TRI+13.90%+0.19pp
- MRVL-20.98%-1.15pp
- ARM-24.18%-1.09pp
- INTC-24.39%-0.94pp
- SNDK-26.19%-0.69pp
- MU-14.96%-0.53pp
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)
- CTSH+31.39%
- MSFT+24.88%
- WDAY+21.90%
- INTU+16.14%
- ADBE+14.39%
- SNDK-26.19%
- INTC-24.39%
- ARM-24.18%
- APP-22.94%
- KLAC-22.42%
QTEC — constituent leadership race
$100 in each covered QTEC 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 — 45 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MRVL Marvell Technology Inc | 5.46% | 193.78 | +3.31% | +2.43% | -20.98% | +128.30% | 11 |
| ARM Arm Holdings Plc ADR | 4.51% | 239.06 | -0.26% | -10.24% | -24.18% | +118.70% | 4 |
| AMD Adv Micro Devices | 3.94% | 484.64 | +1.78% | -2.08% | -6.41% | +126.30% | 36 |
| INTC Intel Corp | 3.87% | 91.00 | +0.89% | -0.73% | -24.39% | +146.61% | 2 |
| MU Micron Technology | 3.57% | 829.50 | +0.79% | -7.85% | -14.96% | +190.76% | 18 |
| STX Seagate Technology Holdings | 3.42% | 831.06 | -2.93% | +1.72% | +1.33% | +202.30% | 56 |
| WDC Western Digital Corp | 2.98% | 527.22 | -3.23% | +5.88% | -2.19% | +206.19% | 44 |
| DDOG Datadog Inc Cl A | 2.95% | 273.60 | +2.10% | +8.63% | +5.09% | +101.19% | 73 |
| QCOM Qualcomm Inc | 2.83% | 151.57 | +2.68% | -10.86% | -14.00% | -10.82% | 22 |
| FTNT Fortinet Inc | 2.79% | 163.21 | +0.78% | +7.11% | +4.45% | +105.53% | 67 |
| CRWD Crowdstrike Holdings | 2.67% | 202.54 | +6.12% | +12.45% | +4.41% | +72.83% | 62 |
| SNDK Sandisk Corp | 2.63% | 1288.03 | +6.03% | +0.77% | -26.19% | +442.60% | 0 |
| PANW Palo Alto Networks | 2.60% | 347.13 | +4.61% | +9.39% | -0.27% | +88.45% | 51 |
| NXPI Nxp Semiconductors | 2.55% | 224.17 | -2.18% | -16.25% | -17.99% | +3.81% | 13 |
| TXN Texas Instruments | 2.47% | 269.04 | -2.43% | -3.22% | -8.20% | +56.09% | 31 |
| MPWR Monolithic Power Sys | 2.35% | 1344.37 | -5.73% | +0.40% | +4.36% | +48.62% | 60 |
| MCHP Microchip Technology | 2.32% | 75.22 | +1.25% | -3.44% | -11.13% | +18.74% | 24 |
| LRCX Lam Research Corp | 2.23% | 294.61 | +0.54% | +1.03% | -16.16% | +72.43% | 16 |
| CDNS Cadence Design Sys | 2.20% | 336.15 | -1.14% | -0.73% | -9.91% | +7.54% | 29 |
| KLAC K L A-Tencor Corp | 2.16% | 182.75 | -0.04% | -10.13% | -22.42% | — | 9 |
| AMAT Applied Materials | 2.13% | 518.21 | +2.08% | +0.26% | -14.07% | +101.90% | 20 |
| ADI Analog Devices | 2.10% | 361.88 | -1.51% | -2.69% | -4.05% | +33.85% | 40 |
| AVGO Broadcom Ltd | 2.05% | 392.23 | +0.76% | +2.35% | +8.82% | +13.57% | 80 |
| ASML ASML Holdings NY Reg ADR | 2.02% | 1642.52 | +0.83% | -0.64% | -7.17% | +54.06% | 33 |
| NVDA Nvidia Corp | 1.92% | 206.64 | +2.93% | +5.15% | +6.06% | +10.93% | 76 |
| APP Applovin Corp Cl A | 1.92% | 406.16 | +2.59% | -1.59% | -22.94% | -39.72% | 7 |
| AAPL Apple Inc | 1.90% | 303.42 | -1.78% | -9.94% | -1.69% | +11.71% | 49 |
| SNPS Synopsys Inc | 1.78% | 392.07 | +0.85% | +0.79% | -10.31% | -16.53% | 27 |
| MSFT Microsoft Corp | 1.70% | 487.65 | +4.93% | +25.33% | +24.88% | +1.06% | 96 |
| WDAY Workday Inc | 1.65% | 165.05 | +2.94% | +11.87% | +21.90% | -23.15% | 93 |
| META META Platforms Inc | 1.60% | 590.24 | +6.02% | -0.61% | +1.26% | -10.51% | 53 |
| ADBE Adobe Systems Inc | 1.58% | 251.34 | +0.37% | +5.72% | +14.39% | -28.19% | 89 |
| DASH Doordash Inc Cl A | 1.55% | 200.50 | +2.21% | +8.75% | +4.42% | -11.47% | 64 |
| SHOP Shopify Inc | 1.51% | 117.01 | -0.12% | -7.78% | -2.05% | -27.31% | 47 |
| MSTR Strategy Inc | 1.45% | 94.86 | +1.69% | -3.84% | -5.86% | -37.57% | 38 |
| ADSK Autodesk Inc | 1.43% | 234.71 | +0.22% | +3.90% | +13.12% | -20.71% | 84 |
| PLTR Palantir Technologies Cl A | 1.43% | 125.65 | +2.10% | -4.47% | -2.82% | -29.31% | 42 |
| ROP Roper Industries | 1.42% | 392.57 | +0.15% | +4.68% | +8.06% | -11.40% | 78 |
| TRI Thomson Reuters Corp | 1.37% | 101.61 | +3.55% | +3.94% | +13.90% | -21.24% | 87 |
| PDD Pdd Holdings Inc | 1.35% | 90.15 | +1.80% | +6.25% | +9.42% | -20.50% | 82 |
| ZS Zscaler Inc | 1.35% | 154.46 | +2.16% | +4.86% | +4.84% | -31.33% | 71 |
| CTSH Cognizant Tech Sol | 1.31% | 55.17 | -0.33% | +17.26% | +31.39% | -33.19% | 98 |
| INTU Intuit Inc | 1.01% | 318.39 | +0.73% | +4.76% | +16.14% | -51.70% | 91 |
| GOOGL Alphabet Cl A | 0.94% | 373.51 | +4.88% | +14.38% | +3.78% | +19.42% | 58 |
| GOOG Alphabet Cl C | 0.94% | 372.47 | +4.44% | +14.06% | +4.57% | +18.78% | 69 |
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.
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Dispersion is computed across the constituents we cover in our data lake (see coverage badge). Decision-support, not investment advice.