Constituent dispersion · breadth vs the index
XLF — Financial 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 | -1.74% | -0.55 | +0pp | -0.55pp | Confirming ↓ |
| 1 month | -3.39% | -2.17 | -4pp | -0.17pp | Confirming ↓ |
| 1 quarter | +3.75% | +1.37 | -3pp | +0.58pp | Confirming ↑ |
Over the last 126 sessions: price up +13.92%, breadth up (+6.3/name) · % beating 53→38 · median−ETF +0.48pp→-1.24pp.
Stocks above their moving average — participation breadth
Of the 76 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 2026-09-17.
New highs & new lows — by horizon
How many of the 76 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 | 4 (5%) | 30 (39%) | -26 |
| 1-Month | 1 (1%) | 18 (24%) | -17 |
| 3-Month | 0 (0%) | 3 (4%) | -3 |
| 6-Month | 0 (0%) | 2 (3%) | -2 |
| 52-Week | 0 (0%) | 2 (3%) | -2 |
| YTD | 0 (0%) | 2 (3%) | -2 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.09% | +0.03% | +0.12pp | 39 / 37 | 39 / 37 | 53 of 76 | ±1.27% |
| 5d | -1.74% | -1.45% | +0.29pp | 22 / 53 | 41 / 35 | 21 of 76 | ±2.52% |
| 21d | -3.39% | -4.63% | -1.24pp | 11 / 65 | 29 / 47 | 14 of 76 | ±5.58% |
| YTD | +2.55% | +2.33% | -0.22pp | 45 / 31 | 38 / 38 | 5 of 76 | ±17.06% |
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)
- GS+1.44%+0.06pp
- HOOD+5.16%+0.05pp
- BLK+1.61%+0.03pp
- COIN+5.75%+0.03pp
- BAC+0.48%+0.02pp
- BRK.B-2.04%-0.24pp
- V-0.27%-0.02pp
- MA-0.36%-0.02pp
- AON-1.50%-0.01pp
- MRSH-1.23%-0.01pp
This month (21d)
- HOOD+19.97%+0.19pp
- BRK.B+1.24%+0.15pp
- V+1.56%+0.11pp
- COIN+18.97%+0.09pp
- PGR+4.37%+0.07pp
- BAC-9.42%-0.46pp
- JPM-3.84%-0.44pp
- GS-8.55%-0.36pp
- MS-6.45%-0.22pp
- AXP-8.08%-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)
- HOOD+19.97%
- COIN+18.97%
- PGR+4.37%
- EG+3.47%
- TRV+3.14%
- AON-13.74%
- PYPL-12.39%
- FIS-11.04%
- BX-10.80%
- ARES-10.68%
XLF — constituent leadership race
$100 in each covered XLF 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 — 76 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| BRK.B Berkshire Hathaway Cl B | 11.80% | 509.20 | -2.04% | +0.43% | +1.24% | +1.30% | 87 |
| JPM JP Morgan Chase & Company | 11.38% | 349.31 | +0.11% | -1.20% | -3.84% | +9.45% | 54 |
| V Visa Inc | 7.13% | 369.93 | -0.27% | +0.74% | +1.56% | +5.70% | 89 |
| MA Mastercard Inc | 5.25% | 565.73 | -0.36% | +0.06% | -1.49% | -0.58% | 75 |
| BAC Bank of America Corp | 4.89% | 58.18 | +0.48% | -7.00% | -9.42% | +6.38% | 11 |
| GS Goldman Sachs Group | 4.19% | 951.47 | +1.44% | -6.70% | -8.55% | +8.81% | 17 |
| WFC Wells Fargo & Company | 3.41% | 86.89 | -0.18% | -2.86% | -0.58% | -6.31% | 80 |
| MS Morgan Stanley | 3.39% | 203.52 | +0.54% | -4.30% | -6.45% | +15.89% | 36 |
| C Citigroup Inc | 3.21% | 132.70 | -0.19% | -4.19% | -3.60% | +14.85% | 58 |
| AXP American Express Company | 2.29% | 311.17 | -0.40% | -2.97% | -8.08% | -15.44% | 22 |
| SCHW The Charles Schwab Corp | 2.00% | 104.63 | -0.50% | -2.52% | -6.31% | +5.08% | 38 |
| BLK Blackrock Inc | 1.96% | 1053.96 | +1.61% | -0.79% | -8.70% | -0.98% | 14 |
| SPGI S&P Global Inc | 1.69% | 404.11 | -0.65% | -1.54% | -3.12% | -22.31% | 63 |
| CB Chubb Ltd | 1.57% | 341.90 | +0.11% | +1.26% | -0.98% | +9.86% | 76 |
| PGR Progressive Corp | 1.57% | 216.29 | -0.32% | +0.05% | +4.37% | +1.07% | 96 |
| COF Capital One Financial Corp | 1.52% | 202.04 | -0.57% | -2.45% | -8.77% | -15.96% | 12 |
| BNY Bank of New York Mellon Corp | 1.30% | 153.02 | -0.29% | -5.89% | -6.66% | +32.92% | 34 |
| CME CME Group | 1.28% | 271.15 | -0.48% | -1.07% | -0.14% | +1.67% | 83 |
| PNC PNC Bank | 1.26% | 232.01 | +0.22% | -4.51% | -8.76% | +12.87% | 13 |
| BX Blackstone Inc | 1.21% | 125.41 | +1.59% | +0.00% | -10.80% | -16.93% | 4 |
| USB U.S. Bancorp | 1.21% | 60.25 | +0.87% | -3.46% | -7.01% | +14.08% | 30 |
| MRSH Marsh & Mclennan Companies | 1.07% | 174.58 | -1.23% | -1.53% | -6.33% | -4.93% | 37 |
| ICE Intercontinental Exchange | 1.05% | 153.30 | -0.52% | -1.28% | -1.84% | -5.04% | 74 |
| HOOD Robinhood Markets Inc Cl A | 0.97% | 109.81 | +5.16% | -3.11% | +19.97% | -2.91% | 99 |
| AON AON Plc | 0.95% | 296.05 | -1.50% | -3.81% | -13.74% | -15.70% | 0 |
| MCO Moody's Corp | 0.90% | 461.88 | -0.74% | -1.17% | -4.92% | -9.17% | 46 |
| KKR KKR & Company LP | 0.87% | 98.19 | +1.39% | -2.66% | -8.40% | -22.68% | 18 |
| TRV The Travelers Companies | 0.87% | 379.49 | +0.15% | +3.25% | +3.14% | +31.31% | 93 |
| TFC Truist Financial Corp | 0.86% | 48.45 | +0.02% | -3.74% | -7.56% | +0.50% | 26 |
| APO Apollo Asset Management | 0.82% | 126.00 | +1.18% | -1.49% | -5.47% | -12.24% | 43 |
| ALL Allstate Corp | 0.76% | 252.21 | -1.04% | +0.17% | -3.42% | +22.42% | 61 |
| AJG Arthur J. Gallagher & Company | 0.74% | 241.41 | -0.97% | -0.78% | -2.80% | -6.12% | 66 |
| AFL Aflac Inc | 0.72% | 116.60 | -0.18% | +1.86% | -3.73% | +6.85% | 55 |
| FITB Fifth Third Bancorp | 0.65% | 53.27 | +1.64% | -2.13% | -7.02% | +14.83% | 29 |
| MET Metlife Inc | 0.64% | 97.35 | +0.12% | +0.59% | +0.64% | +25.16% | 86 |
| STT State Street Corp | 0.62% | 183.07 | +0.09% | -4.30% | -4.59% | +43.79% | 50 |
| MSCI MSCI Inc | 0.58% | 549.47 | +1.64% | +0.34% | -2.36% | -3.50% | 70 |
| AMP Ameriprise Financial Services | 0.55% | 545.70 | +0.89% | -1.41% | -2.92% | +12.03% | 64 |
| IBKR Interactive Brokers | 0.53% | 88.38 | +1.89% | -1.16% | -2.41% | +37.71% | 68 |
| AIG American International Group | 0.53% | 75.68 | -0.51% | +1.53% | -0.58% | -11.02% | 82 |
| NDAQ Nasdaq Inc | 0.53% | 91.31 | +2.87% | -0.43% | -5.58% | -5.69% | 41 |
| PYPL Paypal Holdings | 0.50% | 52.94 | +0.44% | -0.69% | -12.39% | -9.04% | 1 |
| XYZ Block Inc | 0.50% | 76.47 | -0.21% | -3.29% | -3.73% | +17.48% | 57 |
| PRU Prudential Financial Inc | 0.50% | 117.93 | +0.76% | -0.46% | -4.21% | +7.36% | 51 |
| HIG The Hartford Insurance Group | 0.48% | 133.14 | -1.33% | -2.68% | -4.19% | -2.51% | 53 |
| COIN Coinbase Global Cl A | 0.47% | 173.97 | +5.75% | +0.98% | +18.97% | -23.07% | 97 |
| HBAN Huntington Bancshares | 0.47% | 15.88 | +1.37% | -4.14% | -10.08% | -7.54% | 8 |
| MTB M&T Bank Corp | 0.46% | 226.36 | +0.15% | -5.30% | -10.00% | +13.92% | 9 |
| ACGL Arch Capital Grp Ltd | 0.43% | 96.70 | -0.28% | +0.52% | -2.23% | +0.81% | 72 |
| NTRS Northern Trust Corp | 0.43% | 176.94 | +0.17% | -5.48% | -7.16% | +30.87% | 28 |
| CBOE CBOE Global Markets | 0.41% | 266.67 | -1.39% | -7.24% | -8.36% | +6.73% | 20 |
| FISV Fiserv Inc | 0.38% | 49.30 | -0.30% | +0.76% | -4.68% | -26.60% | 49 |
| CFG Citizens Financial Group | 0.38% | 67.39 | +0.82% | -3.22% | -8.26% | +17.02% | 21 |
| ARES Ares Management LP | 0.37% | 125.32 | +0.89% | -3.05% | -10.68% | -21.41% | 5 |
| RJF Raymond James Financial | 0.36% | 163.77 | -0.49% | -5.62% | -8.66% | +2.71% | 16 |
| CINF Cincinnati Financial | 0.35% | 169.90 | -0.51% | +0.18% | -0.85% | +4.64% | 78 |
| SYF Synchrony Financial | 0.34% | 74.41 | -0.63% | -1.37% | -7.66% | -10.09% | 25 |
| RF Regions Financial Corp | 0.33% | 28.48 | +0.04% | -4.91% | -10.16% | +7.12% | 7 |
| WTW Willis Towers Watson Public | 0.33% | 310.99 | -0.61% | -1.40% | -5.16% | -5.04% | 45 |
| CPAY Corpay Inc | 0.33% | 404.26 | +0.49% | -1.03% | -0.63% | +34.34% | 79 |
| TROW T Rowe Price Group | 0.31% | 102.84 | +0.43% | -3.19% | -6.78% | +1.95% | 32 |
| PFG Principal Financial Group | 0.29% | 115.94 | -0.60% | +0.85% | +2.47% | +33.68% | 92 |
| KEY Keycorp | 0.28% | 20.95 | +1.11% | -3.59% | -8.07% | +3.52% | 24 |
| WRB W.R. Berkley Corp | 0.27% | 70.10 | +0.21% | +0.07% | -0.10% | +1.00% | 84 |
| FIS Fidelity National Information Services | 0.27% | 36.43 | -1.14% | -4.33% | -11.04% | -44.71% | 3 |
| L Loews Corp | 0.24% | 108.36 | -0.40% | -0.66% | -3.58% | +3.02% | 59 |
| BRO Brown & Brown | 0.23% | 65.12 | -1.15% | -1.82% | -6.13% | -17.87% | 39 |
| GPN Global Payments Inc | 0.21% | 85.40 | -1.26% | -3.28% | -5.50% | +10.70% | 42 |
| EG Everest Re Group | 0.18% | 380.12 | +0.62% | +2.45% | +3.47% | +12.71% | 95 |
| GL Globe Life Inc | 0.17% | 172.26 | -0.42% | +0.85% | -3.27% | +23.70% | 62 |
| AIZ Assurant Inc | 0.17% | 283.81 | +0.09% | +1.01% | +1.34% | +18.32% | 88 |
| IVZ Invesco Limited | 0.17% | 30.22 | +0.47% | -5.36% | -6.67% | +16.87% | 33 |
| BEN Franklin Resources | 0.13% | 33.07 | +1.07% | -1.75% | -2.71% | +40.45% | 67 |
| JKHY Jack Henry & Assoc | 0.12% | 156.21 | -1.74% | -3.23% | +2.02% | -13.70% | 91 |
| FDS Factset Research Systems | 0.12% | 278.85 | +0.88% | +6.05% | -2.30% | -2.94% | 71 |
| ERIE Erie Indemnity Company | 0.08% | 244.39 | -0.48% | +1.66% | -4.89% | -13.80% | 47 |
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
XLF dispersion — data Q&A
Is XLF's move broad or carried by a few names (21 sessions)?
As of 2026-09-17: over 21 sessions the fund returned -3.39% while its median constituent returned -4.63% — a dispersion of 5.58 pp; 38% of 76 members beat the fund. Broad decline - breadth is falling with price.
How did XLF's members trade in the last session?
As of 2026-09-17: fund -0.09%, median member +0.03%, 39 advancers vs 37 decliners.
What does the dispersion page for XLF 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. 76 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.