Constituent dispersion · breadth vs the index
QQEW — First Trust Nasdaq-100 Equal Weight
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 | +1.77% | +0.41 | +0pp | -3.90pp | Confirming ↑ |
| 1 month | +2.71% | -0.27 | +6pp | -3.62pp | Weakening |
| 1 quarter | +5.58% | +0.43 | -1pp | -3.31pp | Confirming ↑ |
Over the last 126 sessions: price up +26.64%, breadth up (+3.71/name) · % beating 52→48 · median−ETF +0.95pp→-4.67pp.
Stocks above their moving average — participation breadth
Of the 49 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 49 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 (37%) | 11 (22%) | +7 |
| 1-Month | 10 (20%) | 2 (4%) | +8 |
| 3-Month | 6 (12%) | 0 (0%) | +6 |
| 6-Month | 5 (10%) | 0 (0%) | +5 |
| 52-Week | 4 (9%) | 0 (0%) | +4 |
| YTD | 5 (10%) | 0 (0%) | +5 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | +0.08% | +0.14% | +0.06pp | 25 / 23 | 25 / 24 | 22 of 49 | ±2.41% |
| 5d | +1.77% | +1.72% | -0.05pp | 31 / 18 | 24 / 25 | 8 of 49 | ±6.04% |
| 21d | +2.71% | -1.30% | -4.02pp | 24 / 25 | 23 / 26 | 4 of 49 | ±13.92% |
| YTD | +16.63% | +9.79% | -6.84pp | 30 / 18 | 18 / 30 | 0 of 48 | ±67.6% |
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)
- FTNT+3.88%+0.12pp
- PANW+3.23%+0.09pp
- AVGO+3.67%+0.08pp
- ZS+5.18%+0.08pp
- ADSK+4.39%+0.07pp
- STX-9.18%-0.35pp
- KLAC-4.54%-0.11pp
- LRCX-3.44%-0.09pp
- DXCM-4.04%-0.07pp
- MU-1.73%-0.07pp
This month (21d)
- DDOG+30.67%+1.01pp
- ARM+20.02%+1.01pp
- CRWD+30.86%+0.92pp
- PANW+26.00%+0.75pp
- FTNT+22.38%+0.69pp
- AXON-18.82%-0.33pp
- PAYX-17.00%-0.31pp
- BKNG-18.25%-0.3pp
- APP-13.03%-0.28pp
- ALNY-15.85%-0.26pp
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)
- CRWD+30.86%
- DDOG+30.67%
- SNPS+28.27%
- PANW+26.00%
- ZS+25.00%
- AXON-18.82%
- BKNG-18.25%
- PAYX-17.00%
- ALNY-15.85%
- APP-13.03%
QQEW — constituent leadership race
$100 in each covered QQEW constituent at 2025-12-30, 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 — 49 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| ARM Arm Holdings Plc ADR | 5.02% | 302.56 | -0.11% | +3.03% | +20.02% | +176.79% | 82 |
| MU Micron Technology | 3.98% | 1045.56 | -1.73% | -1.83% | +2.85% | +266.49% | 57 |
| STX Seagate Technology Holdings | 3.80% | 805.63 | -9.18% | -11.80% | -5.14% | +193.05% | 33 |
| DDOG Datadog Inc Cl A | 3.29% | 278.24 | +0.66% | +3.60% | +30.67% | +104.60% | 96 |
| FTNT Fortinet Inc | 3.10% | 191.27 | +3.88% | +8.70% | +22.38% | +140.86% | 86 |
| CRWD Crowdstrike Holdings | 2.97% | 278.86 | +2.27% | +6.14% | +30.86% | +137.96% | 98 |
| PANW Palo Alto Networks | 2.89% | 419.91 | +3.23% | +8.11% | +26.00% | +127.96% | 92 |
| MPWR Monolithic Power Sys | 2.61% | 1473.69 | -0.42% | +8.84% | +20.41% | +62.92% | 84 |
| LRCX Lam Research Corp | 2.49% | 333.89 | -3.44% | +3.10% | +8.53% | +95.42% | 73 |
| CDNS Cadence Design Sys | 2.45% | 359.55 | +1.72% | +10.91% | +22.84% | +15.03% | 88 |
| KLAC K L A-Tencor Corp | 2.40% | 197.46 | -4.54% | +0.47% | +6.39% | +63.11% | 69 |
| AVGO Broadcom Ltd | 2.28% | 375.81 | +3.67% | +5.83% | +5.00% | +8.81% | 63 |
| ASML ASML Holdings NY Reg ADR | 2.25% | 1834.10 | -1.39% | -0.02% | +6.95% | +72.03% | 71 |
| NVDA Nvidia Corp | 2.14% | 239.24 | +0.14% | +5.29% | +3.97% | +28.44% | 59 |
| APP Applovin Corp Cl A | 2.13% | 278.78 | -1.13% | -8.79% | -13.03% | -58.63% | 8 |
| AAPL Apple Inc | 2.12% | 333.63 | +0.22% | +1.28% | +4.27% | +22.84% | 61 |
| MNST Monster Beverage Corp | 2.03% | 43.25 | -0.60% | +3.62% | -1.30% | +12.82% | 49 |
| SNPS Synopsys Inc | 1.99% | 505.17 | +3.42% | +21.70% | +28.27% | +7.55% | 94 |
| MSFT Microsoft Corp | 1.89% | 529.30 | +0.78% | +4.00% | +5.92% | +9.70% | 65 |
| ADP Automatic Data Processing | 1.87% | 262.36 | +0.81% | +0.21% | -4.89% | +2.84% | 37 |
| ROST Ross Stores Inc | 1.86% | 224.21 | -0.95% | -4.35% | -2.62% | +24.73% | 47 |
| WDAY Workday Inc | 1.84% | 186.55 | -1.28% | -1.38% | -4.72% | -13.14% | 39 |
| DXCM Dexcom Inc | 1.83% | 83.39 | -4.04% | -3.75% | -5.13% | +25.64% | 35 |
| PAYX Paychex Inc | 1.81% | 101.02 | +1.24% | +1.72% | -17.00% | -9.01% | 4 |
| META META Platforms Inc | 1.78% | 738.88 | -0.41% | +0.01% | +19.80% | +12.03% | 80 |
| ADBE Adobe Systems Inc | 1.76% | 238.12 | -0.28% | +2.12% | -10.65% | -31.96% | 22 |
| ABNB Airbnb Inc Cl A | 1.76% | 160.39 | -2.24% | +2.19% | -11.84% | +18.18% | 14 |
| AXON Axon Enterprise | 1.75% | 418.62 | +1.65% | -0.23% | -18.82% | -26.29% | 0 |
| DASH Doordash Inc Cl A | 1.72% | 193.62 | +0.96% | +3.48% | -8.55% | -14.51% | 24 |
| EA Electronic Arts Inc | 1.71% | 209.70 | +0.00% | +0.05% | +2.35% | +2.73% | 51 |
| MELI Mercadolibre Inc | 1.69% | 1857.99 | -0.14% | +7.72% | -6.08% | -7.76% | 31 |
| AMGN Amgen Inc | 1.68% | 402.60 | -0.09% | -4.97% | -7.92% | +23.85% | 29 |
| IDXX Idexx Laboratories | 1.65% | 515.41 | -2.21% | -3.38% | -3.73% | -23.82% | 45 |
| ALNY Alnylam Pharmaceuticals | 1.64% | 223.94 | +1.84% | -11.86% | -15.85% | -43.68% | 6 |
| VRTX Vertex Pharmaceutic | 1.64% | 502.31 | -0.24% | -4.64% | -8.02% | +10.80% | 27 |
| BKNG Booking Holdings | 1.63% | 157.63 | -0.44% | -2.90% | -18.25% | — | 2 |
| PLTR Palantir Technologies Cl A | 1.59% | 192.07 | +1.41% | +2.73% | +10.18% | +8.06% | 76 |
| GILD Gilead Sciences Inc | 1.59% | 144.23 | -0.28% | -4.66% | -4.48% | +18.18% | 43 |
| ADSK Autodesk Inc | 1.59% | 231.28 | +4.39% | +13.83% | +6.14% | -21.87% | 67 |
| ROP Roper Industries | 1.58% | 362.28 | -0.30% | +3.93% | -11.05% | -18.24% | 18 |
| PDD Pdd Holdings Inc | 1.51% | 78.40 | +0.64% | +1.16% | -4.63% | -30.86% | 41 |
| VRSK Verisk Analytics Inc | 1.51% | 165.20 | +1.18% | -0.45% | -11.08% | -25.96% | 16 |
| ZS Zscaler Inc | 1.51% | 212.25 | +5.18% | +7.01% | +25.00% | -5.63% | 90 |
| NFLX Netflix Inc | 1.50% | 68.69 | +1.76% | -2.29% | -12.22% | -26.74% | 12 |
| ISRG Intuitive Surg Inc | 1.48% | 404.76 | -0.42% | -1.80% | +10.38% | -28.53% | 78 |
| REGN Regeneron Pharmaceuticals | 1.45% | 738.72 | +1.69% | -1.57% | -10.75% | -4.18% | 20 |
| INTU Intuit Inc | 1.12% | 289.81 | +1.80% | +8.13% | -12.89% | -56.03% | 10 |
| GOOGL Alphabet Cl A | 1.04% | 347.68 | +0.35% | +1.98% | +2.72% | +11.16% | 53 |
| GOOG Alphabet Cl C | 1.04% | 344.59 | +0.22% | +2.16% | +2.77% | +9.89% | 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
QQEW dispersion — data Q&A
Is QQEW's move broad or carried by a few names (21 sessions)?
As of 2026-10-06: over 21 sessions the fund returned +2.71% while its median constituent returned -1.30% — a dispersion of 13.92 pp; 47% of 49 members beat the fund. Weakening below the surface - the A/D line is falling while price holds up; leadership is narrowing.
How did QQEW's members trade in the last session?
As of 2026-10-06: fund +0.08%, median member +0.14%, 25 advancers vs 23 decliners.
What does the dispersion page for QQEW 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. 49 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.