Constituent dispersion · breadth vs the index
XLV — Health Care Select Sector
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 | -2.13% | -1.07 | +0pp | +0.92pp | Confirming ↓ |
| 1 month | -2.54% | -2.44 | +2pp | -0.56pp | Confirming ↓ |
| 1 quarter | +2.95% | -0.51 | -5pp | -0.38pp | Weakening |
Over the last 126 sessions: price up +13.81%, breadth up (+0.68/name) · % beating 41→41 · median−ETF -1.56pp→-1.19pp.
Stocks above their moving average — participation breadth
Of the 59 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 59 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 | 13 (22%) | 11 (19%) | +2 |
| 1-Month | 2 (3%) | 5 (8%) | -3 |
| 3-Month | 1 (2%) | 2 (3%) | -1 |
| 6-Month | 1 (2%) | 1 (2%) | +0 |
| 52-Week | 1 (2%) | 1 (2%) | +0 |
| YTD | 1 (2%) | 1 (2%) | +0 |
Dispersion by window
| Window | ETF | Median | Median − ETF | Up / Down | Beat / Lag | ±1% band | Dispersion |
|---|---|---|---|---|---|---|---|
| 1d | -0.17% | -0.45% | -0.29pp | 21 / 38 | 23 / 36 | 37 of 59 | ±1.55% |
| 5d | -2.13% | -1.06% | +1.07pp | 20 / 38 | 38 / 21 | 13 of 59 | ±3.01% |
| 21d | -2.54% | -3.73% | -1.19pp | 19 / 39 | 24 / 35 | 6 of 59 | ±8.13% |
| YTD | +8.38% | +12.75% | +4.37pp | 40 / 18 | 36 / 22 | 1 of 58 | ±26.05% |
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)
- LLY+1.26%+0.2pp
- MRK+1.72%+0.09pp
- JNJ+0.73%+0.08pp
- BMY+1.33%+0.03pp
- ABBV+0.35%+0.03pp
- TMO-2.98%-0.09pp
- ABT-1.94%-0.05pp
- DHR-2.53%-0.05pp
- SYK-2.46%-0.05pp
- UNH-0.60%-0.04pp
This month (21d)
- ABBV+3.99%+0.29pp
- ISRG+10.38%+0.27pp
- TMO+6.97%+0.22pp
- LLY+0.71%+0.11pp
- MRNA+28.79%+0.09pp
- JNJ-7.43%-0.78pp
- UNH-4.66%-0.31pp
- MRK-5.58%-0.29pp
- AMGN-7.92%-0.27pp
- ABT-9.39%-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)
- MRNA+28.79%
- RVTY+17.72%
- MTD+13.96%
- A+12.24%
- ISRG+10.38%
- COO-18.91%
- BSX-11.74%
- INCY-11.06%
- ALGN-10.84%
- BMY-10.82%
XLV — constituent leadership race
$100 in each covered XLV constituent at 2025-12-24, 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 — 59 covered · click a column to sort
| Symbol | Weight | Last | 1d | 5d | 21d | YTD | RS rank |
|---|---|---|---|---|---|---|---|
| LLY Eli Lilly and Company | 16.15% | 1157.49 | +1.26% | -2.29% | +0.71% | +7.89% | 69 |
| JNJ Johnson & Johnson | 10.44% | 254.78 | +0.73% | -4.78% | -7.43% | +23.77% | 24 |
| ABBV Abbvie Inc | 7.24% | 266.69 | +0.35% | +1.29% | +3.99% | +18.63% | 80 |
| UNH Unitedhealth Group | 6.62% | 376.32 | -0.60% | +0.37% | -4.66% | +14.88% | 41 |
| MRK Merck & Company | 5.28% | 141.94 | +1.72% | -4.92% | -5.58% | +35.85% | 32 |
| AMGN Amgen Inc | 3.44% | 402.60 | -0.09% | -4.97% | -7.92% | +23.85% | 20 |
| TMO Thermo Fisher Scientific | 3.17% | 656.58 | -2.98% | -3.39% | +6.97% | +13.42% | 88 |
| GILD Gilead Sciences Inc | 2.78% | 144.23 | -0.28% | -4.66% | -4.48% | +18.18% | 44 |
| ABT Abbott Laboratories | 2.76% | 98.16 | -1.94% | -2.76% | -9.39% | -20.76% | 12 |
| PFE Pfizer Inc | 2.68% | 27.50 | +0.33% | -4.25% | -3.34% | +12.29% | 56 |
| ISRG Intuitive Surg Inc | 2.63% | 404.76 | -0.42% | -1.80% | +10.38% | -28.53% | 92 |
| CVS CVS Corp | 2.33% | 86.43 | -0.67% | -0.77% | -10.66% | +10.77% | 10 |
| BMY Bristol-Myers Squibb Company | 2.09% | 59.59 | +1.33% | -4.22% | -10.82% | +12.93% | 7 |
| DHR Danaher Corp | 2.04% | 215.61 | -2.53% | -4.47% | +3.83% | -5.61% | 76 |
| VRTX Vertex Pharmaceutic | 2.03% | 502.31 | -0.24% | -4.64% | -8.02% | +10.80% | 19 |
| SYK Stryker Corp | 1.93% | 278.20 | -2.46% | +0.11% | -8.22% | -20.63% | 17 |
| MDT Medtronic Inc | 1.85% | 87.09 | -1.00% | +0.00% | -7.52% | -8.60% | 22 |
| MCK Mckesson Corp | 1.73% | 921.67 | +0.68% | +6.57% | +1.51% | +12.58% | 73 |
| ELV Elevance Health Inc | 1.60% | 400.09 | +1.41% | +1.87% | -1.39% | +14.84% | 64 |
| CI The Cigna Group | 1.41% | 274.37 | +1.14% | -0.32% | -2.33% | +0.82% | 59 |
| BSX Boston Scientific Corp | 1.25% | 42.19 | -0.50% | -3.85% | -11.74% | -55.75% | 2 |
| REGN Regeneron Pharmaceuticals | 1.11% | 738.72 | +1.69% | -1.57% | -10.75% | -4.18% | 8 |
| HCA Hca Holdings Inc | 1.09% | 432.20 | -0.63% | +0.13% | +6.72% | -7.29% | 86 |
| COR Cencora Inc | 0.99% | 316.37 | +0.46% | +2.85% | -4.41% | -5.95% | 46 |
| CAH Cardinal Health | 0.95% | 233.44 | +0.14% | +4.50% | -5.56% | +14.16% | 34 |
| EW Edwards Lifesciences Corp | 0.89% | 86.48 | -0.86% | -1.82% | -3.80% | +1.44% | 47 |
| HUM Humana Inc | 0.82% | 404.27 | +0.05% | +4.50% | +0.68% | +58.64% | 68 |
| IDXX Idexx Laboratories | 0.81% | 515.41 | -2.21% | -3.38% | -3.73% | -23.82% | 49 |
| BDX Becton Dickinson and Company | 0.75% | 180.30 | -0.20% | -0.92% | -1.83% | +18.93% | 63 |
| A Agilent Technologies | 0.66% | 169.33 | -1.00% | -3.11% | +12.24% | +24.95% | 93 |
| WAT Waters Corp | 0.63% | 436.43 | -0.84% | -1.54% | +6.61% | +14.90% | 85 |
| ZTS Zoetis Inc Cl A | 0.60% | 71.33 | -0.11% | +1.47% | -5.91% | -42.82% | 29 |
| IQV Iqvia Holdings Inc | 0.55% | 259.98 | -2.30% | -3.35% | -2.91% | +15.34% | 58 |
| CNC Centene Corp | 0.55% | 64.61 | +0.48% | +3.86% | -3.62% | +57.01% | 53 |
| GEHC GE Healthcare Technologies | 0.53% | 64.77 | -1.48% | -2.54% | -5.94% | -20.96% | 27 |
| BIIB Biogen Inc | 0.53% | 222.89 | -0.31% | -1.84% | +0.93% | +26.65% | 71 |
| DXCM Dexcom Inc | 0.52% | 83.39 | -4.04% | -3.75% | -5.13% | +25.64% | 37 |
| RMD Resmed Inc | 0.51% | 220.69 | -0.97% | -0.96% | -3.35% | -7.89% | 54 |
| VEEV Veeva Systems Inc | 0.43% | 283.50 | +0.02% | +1.77% | +3.06% | +27.00% | 75 |
| WST West Pharmaceutical Services | 0.43% | 372.64 | -1.09% | -1.06% | +9.61% | +35.66% | 90 |
| MTD Mettler-Toledo International | 0.41% | 1533.07 | -0.56% | -0.28% | +13.96% | +9.96% | 95 |
| DGX Quest Diagnostics Inc | 0.40% | 228.39 | -1.28% | -1.18% | -3.69% | +32.79% | 51 |
| LH Laboratory Corp of America | 0.40% | 311.71 | +0.99% | +0.94% | -4.64% | +24.90% | 42 |
| STE Steris Corp | 0.37% | 208.65 | -1.15% | -0.95% | -7.10% | -17.49% | 25 |
| VTRS Viatris Inc | 0.34% | 17.54 | -0.45% | -3.20% | +3.91% | +43.13% | 78 |
| INCY Incyte Corp | 0.33% | 112.73 | -1.23% | -8.50% | -11.06% | +14.13% | 3 |
| ZBH Zimmer Biomet Holdings | 0.32% | 89.68 | -2.06% | -1.56% | -8.56% | +0.00% | 15 |
| MRNA Moderna Inc | 0.31% | 187.46 | -7.75% | -7.86% | +28.79% | — | 98 |
| COO Cooper Companies | 0.24% | 56.43 | -0.60% | -0.35% | -18.91% | -31.15% | 0 |
| ALGN Align Technology | 0.21% | 141.45 | +0.57% | -1.78% | -10.84% | -9.41% | 5 |
| SOLV Solventum Corporation | 0.21% | 87.04 | -1.12% | -2.55% | -5.07% | +9.84% | 39 |
| RVTY Revvity Inc | 0.20% | 153.30 | -2.58% | +0.35% | +17.72% | +58.67% | 97 |
| BAX Baxter International | 0.19% | 24.36 | +0.58% | +3.75% | -5.69% | +27.60% | 31 |
| PODD Insulet Corp | 0.19% | 134.73 | -0.66% | +1.42% | -8.65% | -52.60% | 14 |
| CRL Charles River Laboratories | 0.17% | 304.96 | -1.87% | +3.04% | +5.71% | +52.88% | 83 |
| TECH Bio-Techne Corp | 0.15% | 72.43 | -0.21% | +0.07% | +0.00% | +23.55% | 66 |
| HSIC Henry Schein Inc | 0.15% | 84.84 | +0.72% | -0.15% | -5.53% | +12.25% | 36 |
| UHS Universal Health Services | 0.15% | 177.08 | +0.59% | +0.77% | +4.38% | -18.70% | 81 |
| DVA Davita Healthcare Partners | 0.13% | 180.40 | +0.94% | +2.97% | -1.95% | +58.79% | 61 |
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
XLV dispersion — data Q&A
Is XLV's move broad or carried by a few names (21 sessions)?
As of 2026-10-06: over 21 sessions the fund returned -2.54% while its median constituent returned -3.73% — a dispersion of 8.13 pp; 41% of 59 members beat the fund. Broad decline - breadth is falling with price.
How did XLV's members trade in the last session?
As of 2026-10-06: fund -0.17%, median member -0.45%, 21 advancers vs 38 decliners.
What does the dispersion page for XLV 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. 59 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.