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Constituent dispersion · breadth vs the index

CIBR — First Trust Nasdaq Cybersecurity

41/41 covered · 99% by weight · benchmark: CIBR price · closes through 2026-10-06 ·holdings as of 2026-06-16

Concentration 46.78% in top 5 17.86 effective names · HHI 560
RS vs S&P 500 21d +13.15pp sector return − SPY
RS vs Nasdaq-100 21d +8.65pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +14.31% · A/D +75 (+1.83/name)
CIBR price
Cumulative advance / decline of constituents — rises when more names are up than down; turns before price at inflections

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.

HorizonPriceA/D /name% beating ΔMedian−ETF ΔRead
1 week +6.04% +2 +0pp -1.64pp Confirming ↑
1 month +14.31% +1.83 -8pp -4.12pp Confirming ↑
1 quarter +17.97% +1.29 -15pp -5.03pp Confirming ↑

Over the last 126 sessions: price up +64.68%, breadth up (+8.07/name) · % beating 49→41 · median−ETF -0.99pp→-4.19pp.

Dispersion by window

WindowETFMedianMedian − ETF Up / DownBeat / Lag±1% bandDispersion
1d +2.00% +0.78% -1.22pp 28 / 13 13 / 28 12 of 41 ±2.05%
5d +6.04% +6.12% +0.08pp 35 / 6 21 / 20 9 of 41 ±4.58%
21d +14.31% +10.13% -4.19pp 30 / 11 17 / 24 2 of 41 ±14.5%
YTD +51.60% +45.25% -6.35pp 29 / 11 17 / 23 1 of 40 ±56.44%

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)

  • CSCO+4.54%+0.41pp
  • FTNT+3.88%+0.36pp
  • PANW+3.23%+0.33pp
  • AVGO+3.67%+0.26pp
  • CRWD+2.27%+0.24pp
  • NET-1.25%-0.05pp
  • INFY-1.95%-0.02pp
  • HO.FP-1.90%-0.02pp
  • LDOS-2.31%-0.02pp
  • SAIC-1.82%-0.01pp

This month (21d)

  • CRWD+30.86%+3.26pp
  • PANW+26.00%+2.66pp
  • FTNT+22.38%+2.11pp
  • NET+27.28%+1.16pp
  • DDOG+30.67%+0.91pp
  • GEN-25.61%-0.57pp
  • LDOS-12.30%-0.12pp
  • INFY-9.83%-0.12pp
  • IBM-5.79%-0.1pp
  • BAH-6.40%-0.09pp

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)

  • RBRK+34.30%
  • CRWD+30.86%
  • DDOG+30.67%
  • S+29.78%
  • OKTA+28.18%
  • GEN-25.61%
  • ATO.FP-16.55%
  • LDOS-12.30%
  • INFY-9.83%
  • BAH-6.40%

CIBR — constituent leadership race

$100 in each covered CIBR constituent at 2025-12-30, rebased to 100. Watch leadership change hands.

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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 — 41 covered · click a column to sort

Symbol Weight Last 1d 5d 21d YTD RS rank
CRWD Crowdstrike Holdings 10.55% 278.86 +2.27% +6.14% +30.86% +137.96% 95
PANW Palo Alto Networks 10.24% 419.91 +3.23% +8.11% +26.00% +127.96% 83
FTNT Fortinet Inc 9.41% 191.27 +3.88% +8.70% +22.38% +140.86% 71
CSCO Cisco Systems Inc 8.93% 117.94 +4.54% +10.71% +8.00% +54.76% 44
AVGO Broadcom Ltd 7.16% 375.81 +3.67% +5.83% +5.00% +8.81% 37
NET Cloudflare Inc Cl A 4.26% 355.01 -1.25% +0.78% +27.28% +80.07% 85
AKAM Akamai Technologies 3.54% 108.62 +0.58% +0.16% +3.23% +24.49% 32
FFIV F5 Inc 3.03% 469.79 +2.46% +7.24% +20.31% +84.04% 68
DDOG Datadog Inc Cl A 2.97% 278.24 +0.66% +3.60% +30.67% +104.60% 93
OKTA Okta Inc Cl A 2.94% 218.67 +0.17% +6.73% +28.18% +152.89% 88
NTAP Netapp Inc 2.46% 228.45 +2.09% +9.21% +23.09% +115.46% 73
ZS Zscaler Inc 2.44% 212.25 +5.18% +7.01% +25.00% -5.63% 80
GEN Gen Digital Inc 2.23% 22.80 +2.33% +9.35% -25.61% -15.25% 0
CHKP Check Point Software 2.11% 131.98 +1.85% +3.98% -3.70% -28.87% 17
RBRK Rubrik Inc Cl A 1.90% 125.80 +2.54% +9.61% +34.30% +64.49% 98
FROG Jfrog Ltd 1.81% 98.51 +0.66% +9.01% +12.45% +57.72% 54
IBM Intl Business Machines 1.71% 221.29 -0.13% +0.59% -5.79% -24.87% 12
ANET Arista Networks Inc 1.70% 215.36 +4.09% +6.16% +11.14% +64.36% 51
DT Dynatrace Inc 1.64% 61.05 +1.40% +6.12% +17.63% +40.86% 66
GOOGL Alphabet Cl A 1.63% 347.68 +0.35% +1.98% +2.72% +11.16% 27
MSFT Microsoft Corp 1.49% 529.30 +0.78% +4.00% +5.92% +9.70% 39
BAH Booz Allen Hamilton Holding Corp 1.36% 68.14 -0.69% -2.25% -6.40% -18.61% 10
HO.FP Thales 1.21% 222.50 -1.90% -1.81% -3.89% -3.18% 15
INFY Infosys Ltd ADR 1.19% 10.55 -1.95% -0.85% -9.83% -39.52% 7
ACN Accenture Plc 1.17% 193.40 -0.85% +9.19% +3.58% -26.88% 34
BB Blackberry Ltd 1.10% 9.58 +5.51% +9.86% +24.42% +152.77% 78
LDOS Leidos Holdings Inc 0.97% 116.69 -2.31% -5.21% -12.30% -35.16% 5
ESTC Elastic N.V. 0.94% 94.60 -0.33% +6.53% +3.04% +25.40% 29
OTEX.TO Open Text Corporation 0.93% 32.30 +0.72% +1.99% -2.48% -26.10% 20
S Sentinelone Inc Cl A 0.88% 25.80 +1.45% +10.68% +29.78% +72.00% 90
SAIC Science Applications International 0.81% 124.59 -1.82% -2.82% -1.70% +24.67% 22
CVLT Commvault Systems 0.77% 154.98 +0.81% +5.90% +13.61% +23.63% 56
VRNS Varonis Systems Inc 0.60% 49.08 +1.93% +4.18% +6.49% +49.63% 41
QLYS Qualys Inc 0.57% 199.93 +0.63% +12.10% +16.48% +50.44% 63
TENB Tenable Holdings Inc 0.50% 39.47 +2.48% +12.79% +15.23% +67.72% 59
FSLY Fastly Inc 0.47% 25.51 -1.92% +0.12% +23.90% — 76
NTCT Netscout Systems 0.43% 40.99 -0.51% +5.10% +10.13% +51.48% 49
ATEN A10 Networks Inc 0.30% 28.58 +1.38% +10.73% +16.23% +62.39% 61
ZD Ziff Davis Inc 0.26% 54.77 -2.16% -2.77% -1.67% +55.82% 24
RDWR Radware Ltd 0.19% 30.64 -0.13% +4.75% +8.35% +27.19% 46
ATO.FP Atos Se 0.16% 21.88 +1.30% +7.36% -16.55% -56.39% 2

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

CIBR dispersion — data Q&A

Is CIBR's move broad or carried by a few names (21 sessions)?

As of 2026-10-06: over 21 sessions the fund returned +14.31% while its median constituent returned +10.13% — a dispersion of 14.50 pp; 41% of 41 members beat the fund. Broad advance - breadth is rising with price.

How did CIBR's members trade in the last session?

As of 2026-10-06: fund +2.00%, median member +0.78%, 28 advancers vs 13 decliners.

What does the dispersion page for CIBR 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. 41 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.