XLF · WMTMT

Oct 4, 2024Apr 8, 2025Oct 9, 2025Apr 10, 2026Oct 9, 2026

Breadth

55 / 76

stocks rose with the index

Concentration

52%

of the gain from JPM, V, C

Biggest driver

JPM +2.39

JPMORGAN CHASE + CO, +62.60%

Biggest drag

FISV −0.62

FISERV INC, −75.39%

What drove it

76 members · drivers first · 2Y · residual 450.1bp exceeds 60bp gate

The XLF rose 19.89% (+9.08 pts) over two years in a broad advance: 55 of 76 stocks rose, with JPM out front at +2.39 points.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+12.3 pts from 48 gainers−3.1 pts from 28 losers

net +9.1 pts · gainers outweigh losers 3.9 to 1

Stock

Points

Return

XLFsum of all 76 stocks

+9.1

+19.89%

JPMJPMORGAN CHASE + CO

+2.4

+62.60%

VVISA INC CLASS A SHARES

+1.3

+40.51%

CCITIGROUP INC

+1.0

+116.73%

BACBANK OF AMERICA CORP

+1.0

+41.84%

GSGOLDMAN SACHS GROUP INC

+0.8

+87.16%

MSMORGAN STANLEY

+0.7

+84.48%

MAMASTERCARD INC A

+0.7

+19.61%

WFCWELLS FARGO + CO

+0.6

+52.37%

SCHWSCHWAB (CHARLES) CORP

+0.4

+52.77%

HOODROBINHOOD MARKETS INC A

+0.4

+376.28%

BNYBANK OF NEW YORK MELLON CORP

+0.4

+105.68%

BRK-BBERKSHIRE HATHAWAY INC CL B

+0.3

+11.58%

COFCAPITAL ONE FINANCIAL CORP

+0.2

+33.11%

IBKRINTERACTIVE BROKERS GRO CL A

+0.2

+139.81%

STTSTATE STREET CORP

+0.2

+110.38%

46 othersclick to expand the full index

+1.4

ERIEERIE INDEMNITY COMPANY CL A

−0.1

−57.91%

BXBLACKSTONE INC

−0.1

−20.42%

ARESARES MANAGEMENT CORP A

−0.1

−21.94%

ACGLARCH CAPITAL GROUP LTD

−0.1

−12.50%

BROBROWN + BROWN INC

−0.1

−39.69%

AONAON PLC CLASS A

−0.1

−20.27%

SPGIS+P GLOBAL INC

−0.1

−14.99%

AJGARTHUR J GALLAGHER + CO

−0.2

−18.26%

PGRPROGRESSIVE CORP

−0.2

−7.43%

MRSHMARSH + MCLENNAN COS

−0.2

−18.84%

KKRKKR + CO INC

−0.2

−30.81%

FISFIDELITY NATIONAL INFO SERV

−0.2

−57.82%

PYPLPAYPAL HOLDINGS INC

−0.2

−29.42%

COINCOINBASE GLOBAL INC CLASS A

−0.2

+4.96%

FISVFISERV INC

−0.6

−75.39%

Cap weighting, illustrated

JPMORGAN CHASE + CO and GLOBE LIFE INC moved almost identically (+62.60% vs +57.91%), yet JPM moved the XLF 86.3× 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 +9.08 pt move · cell size = points contributed · color = direction, intensity = return

JPM+2.4 pts(+62.6%)

V+1.3 pts(+40.5%)

C+1.0 pts(+116.7%)

BAC+1.0 pts(+41.8%)

GS+0.8 pts(+87.2%)

MS+0.7 pts(+84.5%)

MA+0.7 pts

WFC+0.6 pts(+52.4%)

FISV−0.6 pts(−75.4%)

SCHW+0.4 pts(+52.8%)

HOOD+0.4 pts(+376.3%)

BNY+0.4 pts(+105.7%)

BRK-B

COIN−0.2 pts

PYPL−0.2 pts

FIS−0.2 pts

KKR−0.2 pts

MRSH

COF+0.2 pts

PGR−0.2 pts

IBKR

STT+0.2 pts

AJG−0.2 pts

SPGI−0.1 pts

AXP+0.1 pts

CME+0.1 pts

BRO

NTRS

ACGL

ARES

ERIE

RJF

FDS

Concentration curve

cumulative share of the +9.08 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%0%+100%+200%+300%

From −75.39% (FISV) to +376.28% (HOOD). Equal-weight, the XLF would be +23.98% vs the actual +19.89%; the gap is what cap weighting did.

By sector

point contribution · sums to +9.08 pts

-76

+9.2

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

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Financials · Select Sector

What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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