SMH · WMTMT

open11:0512:4514:2016:00

5-minute bars · index reconstructed live from member prices

Breadth

8 / 25

stocks fell with the index

Concentration

of the decline from NVDA, ADI, LRCX

Biggest driver

NVDA −1.95

class="svelte-mfd49r">1, −1.59%

Biggest offset

QCOM +0.44

class="svelte-mfd49r">10, +1.97%

Context

40th pctile

of the past year's sessions by daily move

What drove it

25 members · detractors first · 1D · residual 4.9bp within 60bp gate

The SMH closed dead flat on the day (−0.1 pts); NVDA (−1.95 pts) and QCOM (+0.44 pts) fought each other to a standstill.

Read the latest market-close note: A Flat Headline on the S&P 500 Masks a Split Between Goldman Sachs and Apple

+2.1 pts from 17 gainers−2.5 pts from 8 losers

net −0.1 pts · losers outweigh gainers 1.2 to 1

Stock

Points

Return

SMHsum of all 25 stocks

−0.1

−0.01%

NVDAclass="svelte-mfd49r">1

−2.0

−1.59%

ADIclass="svelte-mfd49r">8

−0.1

−0.50%

LRCXclass="svelte-mfd49r">12

−0.1

−0.57%

AVGOclass="svelte-mfd49r">3

−0.1

−0.32%

TERclass="svelte-mfd49r">18

−0.1

−0.91%

NXPIclass="svelte-mfd49r">19

−0.1

−0.71%

AMATclass="svelte-mfd49r">9

−0.0

−0.06%

MPWRclass="svelte-mfd49r">17

−0.0

−0.02%

SWKSclass="svelte-mfd49r">25

+0.0

+1.40%

ASMLclass="svelte-mfd49r">5

+0.0

+0.08%

STMclass="svelte-mfd49r">20

+0.0

+0.44%

SNPSclass="svelte-mfd49r">16

+0.0

+0.30%

ONclass="svelte-mfd49r">24

+0.0

+0.98%

TSMclass="svelte-mfd49r">2

+0.0

+0.07%

MCHPclass="svelte-mfd49r">22

+0.0

+0.75%

KLACclass="svelte-mfd49r">11

+0.1

+0.27%

AMDclass="svelte-mfd49r">4

+0.1

+0.37%

CDNSclass="svelte-mfd49r">15

+0.1

+0.84%

ALABclass="svelte-mfd49r">23

+0.1

+2.71%

MUclass="svelte-mfd49r">7

+0.2

+0.58%

TXNclass="svelte-mfd49r">6

+0.2

+0.66%

INTCclass="svelte-mfd49r">13

+0.2

+0.87%

ARMclass="svelte-mfd49r">21

+0.2

+3.93%

MRVLclass="svelte-mfd49r">14

+0.4

+1.97%

QCOMclass="svelte-mfd49r">10

+0.4

+1.97%

Cap weighting, illustrated

class="svelte-mfd49r">13 and class="svelte-mfd49r">24 moved almost identically (+0.87% vs +0.98%), yet INTC moved the SMH 5.6× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the −0.05 pt move · cell size = points contributed · color = direction, intensity = return

NVDA−2.0 pts(−1.6%)

QCOM+0.4 pts(+2.0%)

MRVL+0.4 pts(+2.0%)

ARM+0.2 pts(+3.9%)

INTC+0.2 pts(+0.9%)

TXN+0.2 pts(+0.7%)

MU+0.2 pts(+0.6%)

ADI−0.1 pts(−0.5%)

LRCX−0.1 pts

ALAB+0.1 pts

AVGO−0.1 pts(−0.3%)

CDNS+0.1 pts

AMD+0.1 pts

TER

KLAC

NXPI

MCHP

SNPS

ASML

Concentration curve

cumulative share of the −0.05 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−2%−1%0%+1%+2%+3%

From −1.59% (NVDA) to +3.93% (ARM). Equal-weight, the SMH would be +0.54% vs the actual −0.01%; the gap is what cap weighting did.

By sector

point contribution · sums to −0.05 pts

Unknown25

−0.3

The year, session by session

every trading day of 2026 · hover for the move

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What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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