Constituent dispersion · breadth vs the index
AW40 — Agentic Winners 40 (EW)
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 | +3.33% | +1.11 | -25pp | -2.87pp | Confirming ↑ |
| 1 month | -2.79% | -1.26 | -50pp | -22.75pp | Confirming ↓ |
| 1 quarter | +17.82% | +0.87 | -25pp | -2.97pp | Confirming ↑ |
Over the last 126 sessions: price up +24.79%, breadth up (+1.68/name) · % beating 50→25 · median−ETF -0.04pp→-3.05pp.
Stocks above their moving average — participation breadth
Of the 38 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 2026-10-06.
New highs & new lows — by horizon
How many of the 38 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 | 16 (42%) | 2 (5%) | +14 |
| 1-Month | 4 (11%) | 1 (3%) | +3 |
| 3-Month | 4 (11%) | 0 (0%) | +4 |
| 6-Month | 4 (11%) | 0 (0%) | +4 |
| 52-Week | 1 (3%) | 0 (0%) | +1 |
| YTD | 3 (8%) | 0 (0%) | +3 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.17% | +0.30% | +0.13pp | 24 / 14 | 21 / 17 | 17 of 38 | ±2.77% |
| 5d | +3.33% | +2.50% | -0.83pp | 26 / 12 | 16 / 22 | 7 of 38 | ±8.01% |
| 21d | -2.79% | -2.95% | -0.16pp | 14 / 24 | 19 / 19 | 3 of 38 | ±10.98% |
| YTD | -7.00% | -11.25% | -4.25pp | 17 / 21 | 17 / 21 | 1 of 38 | ±26.78% |
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)
- 3994.T+5.95%+0.15pp
- SHOP+2.70%+0.07pp
- 4180.T+2.26%+0.06pp
- MNDY+1.97%+0.05pp
- AMZN+1.95%+0.05pp
- TEM-13.85%-0.35pp
- CRM-2.09%-0.05pp
- HUBS-1.60%-0.04pp
- IOT-1.53%-0.04pp
- TEAM-1.36%-0.03pp
This month (21d)
- PTC+36.86%+0.92pp
- META+19.80%+0.49pp
- SHOP+13.34%+0.33pp
- TEM+11.39%+0.28pp
- PLTR+10.18%+0.25pp
- 0268.HK-17.76%-0.44pp
- SE-13.88%-0.35pp
- PATH-13.76%-0.34pp
- CRM-13.21%-0.33pp
- APP-13.03%-0.33pp
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)
- PTC+36.86%
- META+19.80%
- SHOP+13.34%
- TEM+11.39%
- PLTR+10.18%
- 0268.HK-17.76%
- SE-13.88%
- PATH-13.76%
- CRM-13.21%
- APP-13.03%
AW40 — constituent leadership race
$100 in each covered AW40 constituent at 2026-01-07, 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 — 38 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| MSFT Microsoft | 2.50% | 529.30 | +0.78% | +4.00% | +5.92% | +9.70% | 84 |
| AMZN Amazon | 2.50% | 256.29 | +1.95% | +3.90% | -0.86% | +11.03% | 58 |
| GOOGL Alphabet | 2.50% | 347.68 | +0.35% | +1.98% | +2.72% | +11.16% | 68 |
| META Meta | 2.50% | 738.88 | -0.41% | +0.01% | +19.80% | +12.03% | 95 |
| AAPL Apple | 2.50% | 333.63 | +0.22% | +1.28% | +4.27% | +22.84% | 79 |
| NVDA Nvidia | 2.50% | 239.24 | +0.14% | +5.29% | +3.97% | +28.44% | 76 |
| PLTR Palantir | 2.50% | 192.07 | +1.41% | +2.73% | +10.18% | +8.06% | 87 |
| NOW ServiceNow | 2.50% | 137.97 | +1.39% | +6.18% | -2.33% | -9.94% | 50 |
| CRM Salesforce | 2.50% | 224.99 | -2.09% | -0.14% | -13.21% | -14.86% | 8 |
| WDAY Workday | 2.50% | 186.55 | -1.28% | -1.38% | -4.72% | -13.14% | 42 |
| SAP SAP | 2.50% | 210.46 | +1.31% | -0.18% | -2.16% | -13.36% | 53 |
| ORCL Oracle | 2.50% | 144.77 | +1.61% | +5.07% | -8.82% | -25.27% | 34 |
| PATH UiPath | 2.50% | 13.10 | -0.46% | +6.33% | -13.76% | -20.07% | 5 |
| ADBE Adobe | 2.50% | 238.12 | -0.28% | +2.12% | -10.65% | -31.96% | 26 |
| INTU Intuit | 2.50% | 289.81 | +1.80% | +8.13% | -12.89% | -56.03% | 13 |
| VEEV Veeva | 2.50% | 283.50 | +0.02% | +1.77% | +3.06% | +27.00% | 71 |
| CSGP CoStar | 2.50% | 27.63 | -0.11% | +2.52% | -10.61% | -58.91% | 29 |
| IOT Samsara | 2.50% | 41.74 | -1.53% | +9.93% | +3.83% | +17.74% | 74 |
| TEM Tempus AI | 2.50% | 71.98 | -13.85% | -12.84% | +11.39% | +21.90% | 89 |
| HUBS HubSpot | 2.50% | 217.09 | -1.60% | +9.82% | -12.32% | -45.90% | 16 |
| TEAM Atlassian | 2.50% | 193.98 | -1.36% | +10.24% | +2.32% | +19.64% | 66 |
| PTC PTC | 2.50% | 193.00 | +0.38% | +40.30% | +36.86% | +10.79% | 97 |
| DASTY Dassault Systèmes | 2.50% | 24.15 | +0.25% | +3.25% | -0.82% | -12.57% | 61 |
| SIEGY Siemens | 2.50% | 156.55 | +1.18% | -2.21% | -1.01% | +14.17% | 55 |
| 0268.HK Kingdee | 2.50% | 7.32 | +0.07% | -2.60% | -17.76% | -44.96% | 0 |
| 4478.T freee | 2.50% | 3505.00 | +1.45% | -2.64% | -11.60% | +16.64% | 21 |
| 3994.T Money Forward | 2.50% | 6290.00 | +5.95% | +7.37% | +1.86% | +34.75% | 63 |
| 4180.T Appier | 2.50% | 1402.00 | +2.26% | +1.45% | +5.49% | +30.54% | 82 |
| MNDY monday.com | 2.50% | 84.29 | +1.97% | +10.83% | -7.44% | -42.88% | 37 |
| SHOP Shopify | 2.50% | 164.44 | +2.70% | +10.91% | +13.34% | +2.16% | 92 |
| APP AppLovin | 2.50% | 278.78 | -1.13% | -8.79% | -13.03% | -58.63% | 11 |
| RDDT Reddit | 2.50% | 148.95 | -0.98% | +2.47% | -3.57% | -35.20% | 47 |
| DUOL Duolingo | 2.50% | 148.13 | +0.70% | +3.86% | -4.10% | -15.60% | 45 |
| SPOT Spotify | 2.50% | 488.13 | +1.05% | -1.12% | -10.01% | -15.94% | 32 |
| NFLX Netflix | 2.50% | 68.69 | +1.76% | -2.29% | -12.22% | -26.74% | 18 |
| MELI MercadoLibre | 2.50% | 1857.99 | -0.14% | +7.72% | -6.08% | -7.76% | 39 |
| SE Sea Limited | 2.50% | 96.53 | -0.33% | -2.12% | -13.88% | -24.33% | 3 |
| TOST Toast | 2.50% | 30.25 | +0.70% | -0.69% | -10.90% | -14.81% | 24 |
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
AW40 dispersion — data Q&A
Is AW40's move broad or carried by a few names (21 sessions)?
As of 2026-10-06: over 21 sessions the fund returned -2.79% while its median constituent returned -2.95% — a dispersion of 10.98 pp; 50% of 38 members beat the fund. Broad decline - breadth is falling with price.
How did AW40's members trade in the last session?
As of 2026-10-06: fund +0.17%, median member +0.30%, 24 advancers vs 14 decliners.
What does the dispersion page for AW40 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. 38 constituents covered, re-baked nightly from the Closelooknet lake.
Is this investment advice?
No — a data surface in an investment research diary. It describes breadth inside a fund; it makes no recommendation.