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Constituent dispersion · breadth vs the index

QTEC — First Trust Nasdaq-100 Technology

45/45 covered · 100% by weight · benchmark: QTEC price · closes through 2026-10-06 ·holdings as of 2026-06-16

Concentration 21.37% in top 5 38.02 effective names · HHI 263
RS vs S&P 500 21d +7.82pp sector return − SPY
RS vs Nasdaq-100 21d +3.32pp sector return − QQQ
Broad advance - breadth is rising with price. Last 21 sessions — price +8.98% · A/D +85 (+1.89/name)
QTEC 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 +3.60% +1.4 -12pp -3.58pp Confirming ↑
1 month +8.98% +1.89 +0pp -0.98pp Confirming ↑
1 quarter +8.75% +1.33 +2pp +0.10pp Confirming ↑

Over the last 126 sessions: price up +48.41%, breadth up (+6.16/name) · % beating 44→44 · median−ETF -1.89pp→-1.72pp.

Stocks above their moving average — participation breadth

Of the 45 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.

5-day 68.89% 31/45 above
20-day 73.33% 33/45 above
50-day 73.33% 33/45 above
100-day 68.89% 31/45 above
150-day 84.44% 38/45 above
200-day 82.22% 37/45 above
% of constituents above their 50-day average — breadth over the last year; 50% is the participation midpoint

New highs & new lows — by horizon

How many of the 45 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.

HorizonNew highsNew lowsNet
5-Day 24 (53%) 6 (13%) +18
1-Month 16 (36%) 1 (2%) +15
3-Month 10 (22%) 1 (2%) +9
6-Month 7 (16%) 0 (0%) +7
52-Week 5 (11%) 0 (0%) +5
YTD 6 (13%) 0 (0%) +6

Dispersion by window

WindowETFMedianMedian − ETF Up / DownBeat / Lag±1% bandDispersion
1d +0.42% +0.22% -0.20pp 27 / 18 20 / 25 21 of 45 ±2.86%
5d +3.60% +3.35% -0.25pp 36 / 9 20 / 25 10 of 45 ±5.88%
21d +8.98% +7.26% -1.72pp 33 / 12 20 / 25 2 of 45 ±13.49%
YTD +47.81% +15.03% -32.79pp 34 / 11 19 / 26 0 of 45 ±115.6%

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)

  • MRVL+5.81%+0.32pp
  • AMD+2.80%+0.11pp
  • FTNT+3.88%+0.11pp
  • PANW+3.23%+0.08pp
  • AVGO+3.67%+0.08pp
  • STX-9.18%-0.31pp
  • WDC-6.93%-0.21pp
  • INTC-3.18%-0.12pp
  • KLAC-4.54%-0.1pp
  • LRCX-3.44%-0.08pp

This month (21d)

  • MRVL+28.39%+1.55pp
  • AMD+35.98%+1.42pp
  • DDOG+30.67%+0.9pp
  • ARM+20.02%+0.9pp
  • CRWD+30.86%+0.82pp
  • WDC-12.04%-0.36pp
  • APP-13.03%-0.25pp
  • STX-5.14%-0.18pp
  • ADBE-10.65%-0.17pp
  • ROP-11.05%-0.16pp

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)

  • AMD+35.98%
  • CRWD+30.86%
  • DDOG+30.67%
  • MRVL+28.39%
  • SNPS+28.27%
  • APP-13.03%
  • INTU-12.89%
  • WDC-12.04%
  • ROP-11.05%
  • ADBE-10.65%

QTEC — constituent leadership race

$100 in each covered QTEC 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 — 45 covered · click a column to sort

Symbol Weight Last 1d 5d 21d YTD RS rank
MRVL Marvell Technology Inc 5.46% 287.01 +5.81% +9.02% +28.39% +238.15% 91
ARM Arm Holdings Plc ADR 4.51% 302.56 -0.11% +3.03% +20.02% +176.79% 76
AMD Adv Micro Devices 3.94% 649.42 +2.80% +6.89% +35.98% +203.24% 98
INTC Intel Corp 3.87% 112.50 -3.18% -2.96% +17.43% +204.88% 71
MU Micron Technology 3.57% 1045.56 -1.73% -1.83% +2.85% +266.49% 31
STX Seagate Technology Holdings 3.42% 805.63 -9.18% -11.80% -5.14% +193.05% 18
WDC Western Digital Corp 2.98% 411.04 -6.93% -9.36% -12.04% +138.72% 4
DDOG Datadog Inc Cl A 2.95% 278.24 +0.66% +3.60% +30.67% +104.60% 93
QCOM Qualcomm Inc 2.83% 181.03 +0.13% -1.67% +7.28% +6.51% 51
FTNT Fortinet Inc 2.79% 191.27 +3.88% +8.70% +22.38% +140.86% 80
CRWD Crowdstrike Holdings 2.67% 278.86 +2.27% +6.14% +30.86% +137.96% 96
SNDK Sandisk Corp 2.63% 1660.46 -2.56% -4.01% -4.57% +599.49% 24
PANW Palo Alto Networks 2.60% 419.91 +3.23% +8.11% +26.00% +127.96% 87
NXPI Nxp Semiconductors 2.55% 244.38 +1.00% +3.35% +7.26% +13.17% 49
TXN Texas Instruments 2.47% 297.23 +0.79% +5.52% +15.01% +72.44% 62
MPWR Monolithic Power Sys 2.35% 1473.69 -0.42% +8.84% +20.41% +62.92% 78
MCHP Microchip Technology 2.32% 81.26 -0.28% +3.15% +9.56% +28.28% 56
LRCX Lam Research Corp 2.23% 333.89 -3.44% +3.10% +8.53% +95.42% 53
CDNS Cadence Design Sys 2.20% 359.55 +1.72% +10.91% +22.84% +15.03% 82
KLAC K L A-Tencor Corp 2.16% 197.46 -4.54% +0.47% +6.39% +63.11% 44
AMAT Applied Materials 2.13% 530.27 -2.21% +3.57% +16.62% +106.60% 69
ADI Analog Devices 2.10% 420.55 +0.35% +5.61% +16.09% +55.56% 67
AVGO Broadcom Ltd 2.05% 375.81 +3.67% +5.83% +5.00% +8.81% 38
ASML ASML Holdings NY Reg ADR 2.02% 1834.10 -1.39% -0.02% +6.95% +72.03% 47
NVDA Nvidia Corp 1.92% 239.24 +0.14% +5.29% +3.97% +28.44% 33
APP Applovin Corp Cl A 1.92% 278.78 -1.13% -8.79% -13.03% -58.63% 0
AAPL Apple Inc 1.90% 333.63 +0.22% +1.28% +4.27% +22.84% 36
SNPS Synopsys Inc 1.78% 505.17 +3.42% +21.70% +28.27% +7.55% 89
MSFT Microsoft Corp 1.70% 529.30 +0.78% +4.00% +5.92% +9.70% 40
WDAY Workday Inc 1.65% 186.55 -1.28% -1.38% -4.72% -13.14% 20
META META Platforms Inc 1.60% 738.88 -0.41% +0.01% +19.80% +12.03% 73
ADBE Adobe Systems Inc 1.58% 238.12 -0.28% +2.12% -10.65% -31.96% 9
DASH Doordash Inc Cl A 1.55% 193.62 +0.96% +3.48% -8.55% -14.51% 11
SHOP Shopify Inc 1.51% 164.44 +2.70% +10.91% +13.34% +2.16% 60
MSTR Strategy Inc 1.45% 164.55 +0.07% +6.39% +15.23% +8.29% 64
ADSK Autodesk Inc 1.43% 231.28 +4.39% +13.83% +6.14% -21.87% 42
PLTR Palantir Technologies Cl A 1.43% 192.07 +1.41% +2.73% +10.18% +8.06% 58
ROP Roper Industries 1.42% 362.28 -0.30% +3.93% -11.05% -18.24% 7
TRI Thomson Reuters Corp 1.37% 98.09 +1.04% +1.92% -7.18% -23.97% 16
PDD Pdd Holdings Inc 1.35% 78.40 +0.64% +1.16% -4.63% -30.86% 22
ZS Zscaler Inc 1.35% 212.25 +5.18% +7.01% +25.00% -5.63% 84
CTSH Cognizant Tech Sol 1.31% 57.22 -1.63% +0.67% -8.17% -30.71% 13
INTU Intuit Inc 1.01% 289.81 +1.80% +8.13% -12.89% -56.03% 2
GOOGL Alphabet Cl A 0.94% 347.68 +0.35% +1.98% +2.72% +11.16% 27
GOOG Alphabet Cl C 0.94% 344.59 +0.22% +2.16% +2.77% +9.89% 29

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

QTEC dispersion — data Q&A

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

As of 2026-10-06: over 21 sessions the fund returned +8.98% while its median constituent returned +7.26% — a dispersion of 13.49 pp; 44% of 45 members beat the fund. Broad advance - breadth is rising with price.

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

As of 2026-10-06: fund +0.42%, median member +0.22%, 27 advancers vs 18 decliners.

What does the dispersion page for QTEC 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. 45 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.