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Closelook rankings · Inside the ETFs

Where the disagreement was in the last session

The covered funds ranked by how far apart their members’ returns were in the last session — single-day disagreement, largest first.

The same measure over just the last session: which funds’ members disagreed the most in one day. A quiet index day with high one-day dispersion somewhere means a rotation happened inside that theme — the kind of move the headline number never shows.

Engine run of 2026-09-07 · 40 funds and Closelook indices covered, member by member — the Sector Dispersion lab holds the full per-fund detail.

#Fund1d dispersionA/D 90dFund 21dMedian member 21dUp / down (1d)Beat / lag (21d)Members
1 QTEC First Trust Nasdaq-100 Technology 4.3 pp +0.3% -0.4% 24 / 21 20 / 25 45
2 XLK Technology Select Sector 4.2 pp +1.1% -0.6% 40 / 32 28 / 44 72
3 IXN iShares Global Tech 4.0 pp +2.6% -0.8% 46 / 41 27 / 60 87
4 AIQ Global X AI & Technology 4.0 pp +3.8% +3.6% 27 / 38 33 / 33 66
5 IGV iShares Expanded Tech-Software 3.9 pp +5.2% +3.0% 25 / 81 46 / 64 110
6 AW40 Agentic Winners 40 (EW) 3.7 pp +7.7% +5.2% 7 / 31 17 / 21 38
7 EUROAI Euro-AI Sovereign 50 (EW) 3.5 pp -1.3% -1.9% 35 / 26 28 / 33 61
8 QTUM Defiance Quantum 3.5 pp -0.9% -2.2% 42 / 20 27 / 35 62
9 SMH VanEck Semiconductor 3.3 pp -0.8% -3.0% 23 / 2 9 / 16 25
10 WTAI WisdomTree AI & Innovation 3.3 pp +3.2% +1.4% 25 / 21 18 / 29 47
11 ARKK ARK Innovation 3.3 pp +13.8% +8.4% 16 / 26 13 / 29 42
12 QQEW First Trust Nasdaq-100 Equal Weight 3.3 pp +1.3% +0.6% 15 / 33 22 / 27 49
13 AEI Agentic Ecosystem Index (EW) 3.3 pp -0.5% +3.3% 12 / 21 19 / 15 34
14 RUBIN Rubin Build-Out 100 (EW) 3.2 pp -2.1% -2.6% 113 / 11 59 / 66 125
15 QTOP iShares Nasdaq-100 Top 30 3.2 pp +0.3% -1.9% 14 / 17 12 / 19 31
16 XLY Consumer Discretionary Select Sector 3.0 pp -2.7% -4.4% 20 / 28 19 / 29 48
17 XSD SPDR S&P Semiconductor (EW) 2.8 pp -5.6% -6.4% 37 / 6 20 / 23 43
18 DTCR Global X Data Center & Digital Infra 2.7 pp +0.7% -1.6% 13 / 6 8 / 12 20
19 RXI Global Discretionary 2.5 pp -3.4% -3.4% 30 / 45 38 / 37 75
20 HALO HALO Growth 100 (EW) 2.5 pp -3.3% -2.4% 47 / 52 58 / 41 99
21 QQXT First Trust Nasdaq-100 Ex-Technology 1.8 pp +0.5% -1.5% 15 / 40 22 / 34 56
22 XLU Utilities Select Sector 1.8 pp -0.7% -1.6% 7 / 23 10 / 21 31
23 XLI Industrial Select Sector 1.7 pp -5.1% -5.9% 50 / 30 37 / 43 80
24 XLB Materials Select Sector 1.7 pp +0.5% -2.0% 13 / 13 9 / 17 26
25 JXI Global Utilities 1.7 pp -1.0% -1.7% 12 / 30 14 / 29 43
26 EXI Global Industrials 1.6 pp -3.0% -4.1% 77 / 56 57 / 78 135
27 IXP Global Communications 1.6 pp +0.5% +0.8% 9 / 26 20 / 17 37
28 XLC Communication Services Select Sector 1.6 pp +0.8% +0.9% 3 / 19 12 / 11 23
29 MXI Global Materials 1.4 pp +3.9% +0.7% 24 / 34 23 / 35 59
30 CIBR First Trust Nasdaq Cybersecurity 1.4 pp -1.9% -1.9% 11 / 29 20 / 21 41
31 IXC Global Energy 1.3 pp +7.9% +7.1% 15 / 19 16 / 19 35
32 XLRE Real Estate Select Sector 1.3 pp -2.0% -2.2% 7 / 24 13 / 17 31
33 REET Global REITs 1.2 pp -2.5% -2.4% 26 / 68 48 / 47 96
34 IXG Global Financials 1.1 pp +1.2% +0.6% 34 / 98 59 / 74 133
35 XLP Consumer Staples Select Sector 1.1 pp -0.6% -1.8% 6 / 30 17 / 19 36
36 IXJ Global Healthcare 1.1 pp +3.6% +2.4% 12 / 68 33 / 46 80
37 XLF Financial Select Sector 1.1 pp +0.5% +0.5% 14 / 62 38 / 38 76
38 KXI Global Staples 1.0 pp -1.4% -3.3% 9 / 52 27 / 34 61
39 XLV Health Care Select Sector 0.9 pp +4.3% +3.5% 8 / 51 23 / 35 59
40 XLE Energy Select Sector 0.8 pp +10.1% +8.1% 5 / 16 9 / 12 21

Dispersion = spread of member returns, in percentage points. Median member = the typical holding’s return. A/D 90d = the fund’s cumulative advance/decline line over the last 90 sessions — rising means most members participate, falling means the shell hides internal decline. Up/down counts members in the last session; beat/lag counts members ahead of or behind the fund itself over 21 days. All 40 covered funds are shown — both ends of the table are the story.

Go deeper

  • Click any fund for its dispersion page in the lab — member-by-member returns, the advance/decline line inside the fund, and what changed.
  • The Directional Flow ranking grades the trend of single names; this family shows which themes those names disagree about.
  • The daily archive keeps every run's full dispersion ranking — which funds were battlegrounds on any past day.
  • Sector flow and theme flow rank the same funds by trend quality instead of internal agreement.

FAQ

What does dispersion mean here?

How far apart the returns of a fund’s members are over a window, in percentage points. High dispersion means the members disagree — big winners and big losers behind one headline number. Low dispersion means the fund is moving as one block.

Why does internal disagreement matter?

Two funds can print the same return for opposite reasons: one carried by a couple of heavyweights while the rest falls, the other lifted by nearly every member. The first is fragile, the second is broad. Dispersion and the median member separate those two cases.

How often is this ranking updated?

The dispersion engine runs after every US market close across the covered funds and Closelook indices. This page is rebuilt every morning and always shows the date of the run it was built from.

Is this investment advice?

No. Closelook publishes an investment research diary, not investment advice. The ranking describes what our engine measures in past prices. Past performance may not be an indication of future performance.

Closelook publishes an investment research diary, not investment advice. Past performance may not be an indication of future performance.