Constituent dispersion · breadth vs the index
XLI — Industrial 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 | -0.90% | -0.26 | +12pp | +1.98pp | Weakening |
| 1 month | -7.93% | -3.64 | +10pp | +2.53pp | Confirming ↓ |
| 1 quarter | -5.67% | -2.16 | +12pp | +2.22pp | Confirming ↓ |
Over the last 126 sessions: price up +2.07%, breadth down (-1.72/name) · % beating 43→55 · median−ETF -1.16pp→+0.94pp.
Stocks above their moving average — participation breadth
Of the 80 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 80 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 | 6 (8%) | 23 (29%) | -17 |
| 1-Month | 0 (0%) | 21 (26%) | -21 |
| 3-Month | 0 (0%) | 9 (11%) | -9 |
| 6-Month | 0 (0%) | 5 (6%) | -5 |
| 52-Week | 0 (0%) | 5 (6%) | -5 |
| YTD | 0 (0%) | 5 (6%) | -5 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.18% | +0.05% | -0.13pp | 42 / 37 | 35 / 45 | 52 of 80 | ±2.41% |
| 5d | -0.90% | -0.44% | +0.47pp | 35 / 45 | 46 / 34 | 23 of 80 | ±2.9% |
| 21d | -7.93% | -7.00% | +0.94pp | 7 / 73 | 44 / 36 | 9 of 80 | ±5.96% |
| YTD | +9.26% | +5.71% | -3.55pp | 50 / 29 | 32 / 47 | 6 of 79 | ±22.37% |
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)
- CAT+2.02%+0.16pp
- ETN+2.93%+0.08pp
- DE+2.41%+0.06pp
- GNRC+18.34%+0.05pp
- UPS+1.42%+0.02pp
- BA-2.46%-0.08pp
- RTX-1.67%-0.08pp
- AXON-3.19%-0.02pp
- CPRT-3.76%-0.02pp
- GD-1.12%-0.02pp
This month (21d)
- DE+16.46%+0.44pp
- CHRW+6.32%+0.03pp
- ADP+1.09%+0.02pp
- RSG+0.90%+0.01pp
- NDSN+2.48%+0.01pp
- GE-16.43%-1.05pp
- RTX-14.17%-0.64pp
- HWM-22.86%-0.44pp
- CAT-5.03%-0.39pp
- GEV-7.92%-0.37pp
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)
- DE+16.46%
- CHRW+6.32%
- NDSN+2.48%
- EXPD+1.68%
- J+1.16%
- AXON-26.84%
- HWM-22.86%
- GE-16.43%
- ODFL-15.82%
- CMI-15.30%
XLI — constituent leadership race
$100 in each covered XLI 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 — 80 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| CAT Caterpillar Inc | 7.71% | 798.57 | +2.02% | -0.80% | -5.03% | +39.99% | 74 |
| GE GE Aerospace | 6.40% | 313.47 | +0.18% | -3.29% | -16.43% | +1.91% | 3 |
| GEV GE Vernova Inc | 4.62% | 924.93 | -0.02% | +0.11% | -7.92% | +41.71% | 45 |
| RTX Rtx Corp | 4.49% | 193.54 | -1.67% | -2.31% | -14.17% | +5.88% | 8 |
| BA Boeing Company | 3.13% | 197.00 | -2.46% | -3.81% | -11.68% | -9.27% | 16 |
| UNP Union Pacific Corp | 2.95% | 282.48 | +0.56% | -1.15% | -5.44% | +23.39% | 65 |
| ETN Eaton Corp | 2.77% | 409.46 | +2.93% | +0.08% | -5.07% | +28.96% | 71 |
| DE Deere & Company | 2.65% | 685.63 | +2.41% | +1.13% | +16.46% | +47.70% | 99 |
| UBER UBER Technologies Inc | 2.58% | 70.87 | -0.14% | -2.33% | -5.08% | -13.27% | 70 |
| HON Honeywell International | 2.55% | 206.49 | -0.56% | +2.13% | -9.32% | +2.29% | 36 |
| VRT Vertiv Holdings Llc. | 2.11% | 241.49 | +0.87% | -2.65% | -11.39% | +49.09% | 21 |
| PH Parker-Hannifin Corp | 2.08% | 925.29 | +0.71% | -0.97% | -11.19% | +5.71% | 25 |
| LMT Lockheed Martin Corp | 1.99% | 538.09 | +0.16% | +1.50% | -11.38% | +11.84% | 23 |
| HWM Howmet Aerospace Inc | 1.93% | 225.76 | -0.87% | -0.94% | -22.86% | +10.23% | 1 |
| PWR Quanta Services | 1.92% | 616.54 | -0.44% | -0.35% | -11.44% | +46.15% | 20 |
| TT Trane Technologies Plc | 1.85% | 423.33 | +0.39% | -3.75% | -8.64% | +9.28% | 40 |
| GD General Dynamics Corp | 1.67% | 355.95 | -1.12% | +0.48% | -9.54% | +6.65% | 31 |
| CMI Cummins Inc | 1.66% | 523.88 | -0.69% | -4.75% | -15.30% | +3.30% | 5 |
| ADP Automatic Data Processing | 1.66% | 272.24 | -0.35% | +2.49% | +1.09% | +6.71% | 93 |
| JCI Johnson Controls Intl | 1.61% | 141.06 | +0.42% | -1.23% | -5.76% | +18.16% | 61 |
| CSX CSX Corp | 1.61% | 47.90 | +0.00% | -2.32% | -4.66% | +32.57% | 75 |
| MMM 3M Company | 1.52% | 164.71 | +1.27% | +1.14% | -8.57% | +3.34% | 41 |
| WM Waste Management | 1.48% | 213.33 | -0.31% | -0.23% | -4.58% | -2.10% | 76 |
| EMR Emerson Electric Company | 1.46% | 147.40 | +1.08% | -0.65% | -6.58% | +11.94% | 54 |
| UPS United Parcel Service | 1.46% | 100.17 | +1.42% | +0.20% | -1.73% | +2.40% | 86 |
| NOC Northrop Grumman Corp | 1.34% | 524.00 | -1.28% | +0.97% | -11.06% | -7.81% | 26 |
| FDX Fedex Corp | 1.33% | 305.88 | +1.38% | -1.51% | -6.85% | +6.32% | 50 |
| TDG Transdigm Group Inc | 1.29% | 1076.01 | -0.38% | -4.51% | -12.79% | -19.09% | 10 |
| NSC Norfolk Southern Corp | 1.28% | 318.97 | +0.62% | -1.34% | -5.88% | +11.45% | 59 |
| URI United Rentals | 1.23% | 1002.53 | -0.37% | +1.36% | -10.20% | +24.41% | 29 |
| ITW Illinois Tool Works | 1.23% | 267.51 | +0.07% | +0.87% | -6.02% | +9.30% | 57 |
| FIX Comfort Systems USA | 1.20% | 1573.96 | -0.84% | -1.06% | -9.49% | +68.80% | 33 |
| PCAR Paccar Inc | 1.13% | 117.36 | -0.73% | -4.25% | -8.33% | +7.78% | 44 |
| CTAS Cintas Corp | 1.09% | 197.96 | -0.75% | -0.24% | -0.75% | +5.50% | 90 |
| GWW W.W. Grainger | 1.05% | 1262.61 | +0.35% | -0.70% | -3.92% | +25.62% | 79 |
| LHX L3Harris Technologies | 1.05% | 250.46 | -0.11% | +0.84% | -10.40% | -14.39% | 28 |
| CARR Carrier Global Corp | 1.00% | 54.39 | +0.24% | -3.97% | -11.45% | +3.74% | 19 |
| DAL Delta Air Lines Inc | 0.98% | 79.43 | +2.00% | +1.52% | -7.32% | +15.07% | 48 |
| FAST Fastenal Company | 0.97% | 49.18 | +0.31% | +0.35% | -4.08% | +23.89% | 78 |
| AME Ametek Inc | 0.95% | 234.32 | +0.92% | +0.18% | -6.27% | +14.31% | 56 |
| ROK Rockwell Automation Inc | 0.94% | 410.05 | -1.17% | -2.69% | -5.45% | +6.08% | 64 |
| ODFL Old Dominion Freight Line | 0.82% | 175.09 | +0.42% | -3.02% | -15.82% | +11.82% | 4 |
| WAB Wabtec Corp | 0.82% | 278.82 | +0.89% | -0.52% | -5.39% | +30.94% | 66 |
| RSG Republic Services | 0.77% | 218.93 | -0.40% | -0.97% | +0.90% | +3.90% | 91 |
| UAL United Airlines Holdings | 0.68% | 107.64 | +1.26% | +1.08% | -9.33% | -3.74% | 35 |
| EME Emcor Group | 0.67% | 729.26 | -1.38% | -2.55% | -11.55% | +19.33% | 18 |
| AXON Axon Enterprise | 0.63% | 453.50 | -3.19% | -5.29% | -26.84% | -20.15% | 0 |
| PAYX Paychex Inc | 0.59% | 116.51 | -0.18% | +1.15% | -2.85% | +4.94% | 83 |
| DOV Dover Corp | 0.53% | 189.24 | +0.47% | +1.00% | -6.81% | -2.61% | 51 |
| OTIS Otis Worldwide Corp | 0.50% | 68.70 | -0.79% | +1.19% | -2.35% | -20.51% | 84 |
| CPRT Copart Inc | 0.50% | 29.66 | -3.76% | -3.54% | -5.87% | -24.24% | 60 |
| XYL Xylem Inc | 0.49% | 107.60 | +0.31% | +0.99% | -5.20% | -20.72% | 69 |
| IR Ingersoll Rand Inc | 0.48% | 72.65 | +1.69% | -0.60% | -10.05% | -8.25% | 30 |
| VRSK Verisk Analytics Inc | 0.47% | 176.48 | -2.90% | +0.62% | -1.33% | -20.91% | 88 |
| HUBB Hubbell Inc B | 0.46% | 443.23 | +0.95% | -2.03% | -8.40% | +0.37% | 43 |
| CHRW C.H. Robinson Ww | 0.42% | 153.82 | +0.23% | +0.92% | +6.32% | -3.66% | 98 |
| LUV Southwest Airlines Company | 0.41% | 40.34 | +3.04% | +4.26% | -5.06% | -1.97% | 73 |
| EXPD Expeditors Intl | 0.41% | 189.08 | +0.02% | -0.13% | +1.68% | +27.54% | 95 |
| JBHT J B Hunt Transport | 0.39% | 236.80 | +0.03% | -11.59% | -13.64% | +22.32% | 9 |
| VLTO Veralto Corporation | 0.38% | 95.25 | -0.52% | +1.93% | -0.85% | -4.40% | 89 |
| SNA Snap-On Inc | 0.37% | 371.62 | -0.36% | -0.86% | -5.51% | +9.27% | 63 |
| EFX Equifax Inc | 0.36% | 161.17 | -1.61% | -4.09% | -11.37% | -25.26% | 24 |
| FDXF Fedex Freight Holding Company Inc | 0.34% | 122.37 | +0.53% | -1.33% | -12.11% | — | 15 |
| FTV Fortive Corp | 0.34% | 55.07 | -0.42% | +1.03% | -7.37% | -0.14% | 46 |
| BR Broadridge Financial Solutions | 0.31% | 164.31 | -1.66% | -2.34% | -3.27% | -25.97% | 81 |
| LII Lennox International | 0.30% | 359.08 | -0.54% | -3.63% | -12.64% | -25.83% | 11 |
| IEX Idex Corp | 0.30% | 221.89 | +0.18% | +0.19% | -5.24% | +25.60% | 68 |
| TXT Textron Inc | 0.29% | 80.91 | +0.25% | +2.18% | -7.14% | -7.16% | 49 |
| LDOS Leidos Holdings Inc | 0.28% | 130.96 | +1.24% | +1.42% | -8.73% | -27.23% | 39 |
| GNRC Generac Holdings Inc | 0.28% | 207.23 | +18.34% | +14.07% | -2.05% | +51.96% | 85 |
| NDSN Nordson Corp | 0.28% | 311.74 | +0.88% | +1.40% | +2.48% | +30.06% | 96 |
| MAS Masco Corp | 0.27% | 68.23 | -0.07% | +0.87% | -6.61% | +8.49% | 53 |
| J Jacobs Engineering Group | 0.27% | 144.16 | +0.47% | +2.58% | +1.16% | +9.46% | 94 |
| ROL Rollins Inc | 0.25% | 33.00 | -1.58% | -4.51% | -9.14% | -44.66% | 38 |
| SWK Stanley Black & Decker | 0.24% | 89.12 | +0.08% | -0.12% | -9.43% | +21.31% | 34 |
| PNR Pentair Ltd | 0.22% | 55.72 | -1.31% | -1.78% | -12.32% | -46.20% | 14 |
| HII Huntington Ingalls Industries | 0.21% | 277.14 | -0.34% | -1.61% | -12.34% | -17.90% | 13 |
| ALLE Allegion Plc | 0.21% | 153.63 | +0.54% | +1.92% | -3.88% | -3.15% | 80 |
| BLDR Builders Firstsource | 0.16% | 57.68 | -3.30% | -2.19% | -14.70% | -43.94% | 6 |
| AOS Smith A.O. Corp | 0.12% | 56.93 | +0.07% | +0.39% | -6.46% | -13.97% | 55 |
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
XLI dispersion — data Q&A
Is XLI's move broad or carried by a few names (21 sessions)?
As of 2026-09-17: over 21 sessions the fund returned -7.93% while its median constituent returned -7.00% — a dispersion of 5.96 pp; 55% of 80 members beat the fund. Broad decline - breadth is falling with price.
How did XLI's members trade in the last session?
As of 2026-09-17: fund +0.18%, median member +0.05%, 42 advancers vs 37 decliners.
What does the dispersion page for XLI 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. 80 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.