Constituent dispersion · breadth vs the index
XLK — Technology 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 | +1.53% | +0.58 | +7pp | +1.28pp | Confirming ↑ |
| 1 month | +1.31% | -0.58 | -15pp | -3.29pp | Weakening |
| 1 quarter | +1.34% | +0.56 | +8pp | +5.10pp | Confirming ↑ |
Over the last 126 sessions: price up +36.19%, breadth up (+6.03/name) · % beating 53→43 · median−ETF +1.38pp→-1.80pp.
Stocks above their moving average — participation breadth
Of the 72 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 72 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 | 18 (25%) | 10 (14%) | +8 |
| 1-Month | 10 (14%) | 2 (3%) | +8 |
| 3-Month | 6 (8%) | 0 (0%) | +6 |
| 6-Month | 4 (6%) | 0 (0%) | +4 |
| 52-Week | 4 (6%) | 0 (0%) | +4 |
| YTD | 4 (6%) | 0 (0%) | +4 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +2.25% | +1.48% | -0.77pp | 55 / 17 | 26 / 46 | 24 of 72 | ±2.63% |
| 5d | +1.53% | +1.09% | -0.44pp | 48 / 24 | 34 / 38 | 15 of 72 | ±5.54% |
| 21d | +1.31% | -0.48% | -1.80pp | 34 / 38 | 31 / 41 | 3 of 72 | ±10.79% |
| YTD | +30.94% | +24.60% | -6.34pp | 49 / 23 | 32 / 40 | 0 of 72 | ±96.59% |
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)
- MU+5.50%+0.39pp
- AMD+6.36%+0.34pp
- NVDA+2.54%+0.33pp
- INTC+7.67%+0.29pp
- AAPL+1.38%+0.16pp
- CRM-2.90%-0.03pp
- TXN-0.97%-0.02pp
- APP-1.52%-0.01pp
- LITE-2.81%-0.01pp
- INTU-1.57%-0.01pp
This month (21d)
- AAPL+8.70%+0.98pp
- AMD+12.53%+0.67pp
- INTC+12.52%+0.47pp
- MU+3.91%+0.28pp
- MSFT+3.54%+0.27pp
- AMAT-18.76%-0.54pp
- LRCX-17.87%-0.53pp
- AVGO-8.61%-0.41pp
- KLAC-13.25%-0.28pp
- WDC-14.57%-0.18pp
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)
- SWKS+35.43%
- DELL+25.55%
- CRM+23.81%
- QCOM+17.80%
- NOW+15.88%
- AMAT-18.76%
- LRCX-17.87%
- CIEN-15.11%
- WDC-14.57%
- ON-14.00%
XLK — constituent leadership race
$100 in each covered XLK 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 — 72 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| NVDA Nvidia Corp | 13.14% | 219.34 | +2.54% | +0.45% | -0.18% | +17.75% | 51 |
| AAPL Apple Inc | 11.26% | 337.00 | +1.38% | +3.19% | +8.70% | +24.08% | 76 |
| MSFT Microsoft Corp | 7.64% | 497.75 | +1.52% | +1.08% | +3.54% | +3.16% | 67 |
| MU Micron Technology | 7.09% | 977.50 | +5.50% | +0.01% | +3.91% | +242.63% | 68 |
| AMD Adv Micro Devices | 5.35% | 545.09 | +6.36% | +8.24% | +12.53% | +154.52% | 89 |
| AVGO Broadcom Ltd | 4.77% | 347.30 | +2.29% | -3.75% | -8.61% | +0.56% | 24 |
| INTC Intel Corp | 3.75% | 108.80 | +7.67% | +8.45% | +12.52% | +194.85% | 88 |
| CSCO Cisco Systems Inc | 3.07% | 110.24 | +2.32% | +2.61% | -1.23% | +44.66% | 47 |
| LRCX Lam Research Corp | 2.94% | 269.31 | +0.03% | -9.63% | -17.87% | +57.63% | 1 |
| AMAT Applied Materials | 2.89% | 417.40 | +0.49% | -8.06% | -18.76% | +62.62% | 0 |
| KLAC K L A-Tencor Corp | 2.14% | 168.98 | +0.97% | -4.63% | -13.25% | +39.59% | 7 |
| ORCL Oracle Corp | 2.00% | 150.59 | +5.19% | -1.54% | +5.46% | -22.26% | 72 |
| PLTR Palantir Technologies Cl A | 1.88% | 176.24 | +1.09% | +6.26% | +2.74% | -0.85% | 61 |
| SNDK Sandisk Corp | 1.88% | 1614.39 | +6.21% | -4.62% | -0.70% | +580.09% | 49 |
| TXN Texas Instruments | 1.75% | 258.14 | -0.97% | -0.26% | -5.18% | +49.76% | 32 |
| IBM Intl Business Machines | 1.63% | 237.75 | +0.11% | +1.59% | +2.18% | -19.28% | 57 |
| PANW Palo Alto Networks | 1.45% | 375.06 | -0.16% | +10.80% | +0.25% | +103.62% | 53 |
| QCOM Qualcomm Inc | 1.45% | 188.71 | +2.09% | +6.69% | +17.80% | +11.03% | 94 |
| ADI Analog Devices | 1.31% | 362.65 | +0.17% | +0.39% | -3.71% | +34.14% | 40 |
| STX Seagate Technology Holdings | 1.30% | 803.13 | +2.55% | -6.87% | -11.13% | +192.14% | 17 |
| WDC Western Digital Corp | 1.22% | 423.87 | +1.65% | -8.04% | -14.57% | +146.17% | 4 |
| APH Amphenol Corp | 1.21% | 78.37 | +1.44% | -2.34% | -1.77% | +16.39% | 46 |
| CRWD Crowdstrike Holdings | 1.10% | 245.70 | +1.80% | +17.64% | +15.40% | +109.66% | 90 |
| ANET Arista Networks Inc | 1.08% | 199.53 | +1.01% | +5.58% | +3.29% | +52.28% | 65 |
| CRM Salesforce Inc | 1.00% | 242.85 | -2.90% | +0.11% | +23.81% | -8.10% | 96 |
| GLW Corning Inc | 0.90% | 147.80 | +2.52% | -9.39% | -7.57% | +69.11% | 28 |
| APP Applovin Corp Cl A | 0.86% | 321.60 | -1.52% | +2.26% | +4.67% | -52.27% | 71 |
| DELL Dell Technologies Inc | 0.75% | 588.40 | +4.46% | +16.14% | +25.55% | +370.93% | 97 |
| NOW Servicenow Inc | 0.69% | 138.47 | -0.97% | +5.57% | +15.88% | -9.61% | 93 |
| CDNS Cadence Design Sys | 0.67% | 280.76 | +0.31% | -1.47% | -11.30% | -10.18% | 15 |
| ACN Accenture Plc | 0.67% | 190.29 | +0.34% | +6.96% | +10.04% | -28.06% | 83 |
| FTNT Fortinet Inc | 0.59% | 172.58 | +0.47% | +8.64% | +9.22% | +117.33% | 78 |
| SNPS Synopsys Inc | 0.56% | 381.17 | +0.71% | -4.03% | -5.75% | -18.85% | 31 |
| ADBE Adobe Systems Inc | 0.54% | 252.67 | +0.87% | +1.54% | -3.98% | -27.81% | 38 |
| INTU Intuit Inc | 0.49% | 313.13 | -1.57% | +0.12% | -10.64% | -52.50% | 18 |
| MPWR Monolithic Power Sys | 0.49% | 1169.58 | +1.91% | -1.39% | -12.27% | +29.30% | 13 |
| NXPI Nxp Semiconductors | 0.49% | 227.95 | +4.10% | +1.11% | -0.27% | +5.56% | 50 |
| DDOG Datadog Inc Cl A | 0.48% | 236.00 | +2.26% | +6.44% | -4.07% | +73.54% | 36 |
| COHR Coherent Corp | 0.46% | 295.98 | +2.09% | +0.96% | -3.41% | +60.36% | 42 |
| MSI Motorola Solutions | 0.44% | 459.68 | -0.18% | -0.65% | -2.09% | +20.24% | 44 |
| LITE Lumentum Holdings | 0.42% | 893.61 | -2.81% | -4.50% | +2.32% | +142.44% | 58 |
| HPE Hewlett Packard Enterprise | 0.41% | 61.04 | +7.69% | +10.54% | +9.61% | +155.76% | 82 |
| TER Teradyne Inc | 0.41% | 353.13 | +3.51% | -4.61% | -12.65% | +82.52% | 8 |
| CIEN Ciena Corp | 0.40% | 344.25 | +1.10% | +2.90% | -15.11% | +47.20% | 3 |
| TEL Te Connectivity Ltd | 0.40% | 206.60 | +2.18% | +0.96% | +1.19% | -8.56% | 56 |
| KEYS Keysight Technologies | 0.39% | 331.44 | +2.92% | +1.78% | -2.80% | +63.12% | 43 |
| MCHP Microchip Technology | 0.33% | 70.82 | +1.77% | -1.06% | -8.88% | +11.80% | 22 |
| ON On Semiconductor | 0.30% | 68.30 | +2.55% | -2.66% | -14.00% | +26.13% | 6 |
| ADSK Autodesk Inc | 0.27% | 218.64 | -0.76% | +3.32% | -11.41% | -26.14% | 14 |
| JBL Jabil Circuit | 0.26% | 295.94 | -0.44% | -2.27% | -12.60% | +29.86% | 10 |
| ROP Roper Industries | 0.23% | 374.76 | -0.28% | -3.56% | -4.92% | -15.42% | 35 |
| NTAP Netapp Inc | 0.21% | 196.92 | +2.84% | +7.25% | -3.81% | +85.73% | 39 |
| Q Qnity Electronics Inc | 0.20% | 117.13 | +1.98% | -5.02% | -12.31% | +43.62% | 11 |
| TDY Teledyne Technologies | 0.19% | 601.98 | +0.15% | +0.92% | -9.48% | +17.87% | 21 |
| FSLR First Solar Inc | 0.18% | 201.16 | +5.28% | -2.90% | -8.57% | -23.00% | 25 |
| FICO Fair Isaac and Company | 0.18% | 966.30 | -2.53% | +0.59% | -10.37% | -42.84% | 19 |
| WDAY Workday Inc | 0.18% | 199.28 | +6.14% | +7.67% | +4.53% | -7.22% | 69 |
| CTSH Cognizant Tech Sol | 0.16% | 61.88 | +0.05% | +6.10% | +7.10% | -25.07% | 74 |
| HPQ HP Inc | 0.15% | 34.66 | +5.99% | +5.90% | +15.69% | +58.09% | 92 |
| VRSN Verisign Inc | 0.15% | 302.05 | +1.20% | +4.57% | +9.47% | +25.12% | 81 |
| FFIV F5 Inc | 0.14% | 434.62 | +2.60% | +9.07% | +10.42% | +70.27% | 85 |
| AKAM Akamai Technologies | 0.12% | 107.08 | +2.49% | -0.05% | -7.05% | +22.73% | 29 |
| CDW CDW Corp | 0.11% | 149.20 | -0.51% | +4.63% | +11.07% | +10.75% | 86 |
| SMCI Super Micro Computer | 0.10% | 40.35 | +9.50% | +7.95% | +7.86% | +37.85% | 75 |
| PTC Ptc Inc | 0.09% | 134.44 | +2.50% | +4.44% | -8.22% | -22.83% | 26 |
| GEN Gen Digital Inc | 0.09% | 30.21 | -1.44% | +0.80% | +9.30% | +12.30% | 79 |
| TYL Tyler Technologies | 0.08% | 341.57 | -1.41% | +1.82% | +2.82% | -24.76% | 63 |
| TRMB Trimble Navigation | 0.08% | 57.33 | +0.02% | +0.86% | +0.60% | -26.83% | 54 |
| ZBRA Zebra Technologies | 0.07% | 347.81 | +1.94% | +1.10% | -5.08% | +43.24% | 33 |
| SWKS Skyworks Solutions | 0.07% | 91.32 | +6.69% | +8.68% | +35.43% | +47.00% | 99 |
| IT Gartner Inc | 0.07% | 187.80 | -1.97% | +10.07% | +3.15% | -25.56% | 64 |
| GDDY Godaddy Inc | 0.07% | 98.15 | -0.95% | +1.85% | +2.45% | -20.90% | 60 |
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
XLK dispersion — data Q&A
Is XLK's move broad or carried by a few names (21 sessions)?
As of 2026-09-17: over 21 sessions the fund returned +1.31% while its median constituent returned -0.48% — a dispersion of 10.79 pp; 43% of 72 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did XLK's members trade in the last session?
As of 2026-09-17: fund +2.25%, median member +1.48%, 55 advancers vs 17 decliners.
What does the dispersion page for XLK 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. 72 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.