XLF · WMTMT

Aug 20, 2024Feb 21, 2025Aug 25, 2025Feb 24, 2026Aug 25, 2026

Breadth

64 / 76

stocks rose with the index

Concentration

40%

of the gain from JPM, V, BAC

Biggest driver

JPM +2.86

JPMORGAN CHASE + CO, +72.51%

Biggest drag

FISV −0.46

FISERV INC, −68.79%

What drove it

76 members · drivers first · 2Y · residual 502.1bp exceeds 60bp gate

The XLF rose 32.89% (+14.43 pts) over two years in a broad advance: 64 of 76 stocks rose, with JPM out front at +2.86 points.

Read the latest market-close note: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+16.8 pts from 54 gainers−2.0 pts from 22 losers

net +14.4 pts · gainers outweigh losers 8.2 to 1

Stock

Points

Return

XLFsum of all 76 stocks

+14.4

+32.89%

JPMJPMORGAN CHASE + CO

+2.9

+72.51%

VVISA INC CLASS A SHARES

+1.5

+45.15%

BACBANK OF AMERICA CORP

+1.4

+70.14%

GSGOLDMAN SACHS GROUP INC

+1.2

+121.71%

MSMORGAN STANLEY

+1.1

+125.27%

CCITIGROUP INC

+1.0

+127.61%

MAMASTERCARD INC A

+1.0

+29.05%

WFCWELLS FARGO + CO

+0.7

+56.82%

SCHWSCHWAB (CHARLES) CORP

+0.6

+77.10%

HOODROBINHOOD MARKETS INC A

+0.5

+465.25%

BNYBANK OF NEW YORK MELLON CORP

+0.5

+159.78%

AXPAMERICAN EXPRESS CO

+0.4

+35.62%

COFCAPITAL ONE FINANCIAL CORP

+0.4

+56.67%

BLKBLACKROCK INC

+0.4

+42.63%

USBUS BANCORP

+0.2

+55.01%

46 othersclick to expand the full index

+3.0

AONAON PLC CLASS A

−0.0

+6.95%

FDSFACTSET RESEARCH SYSTEMS INC

−0.0

−26.32%

CBCHUBB LTD

−0.0

+29.39%

ERIEERIE INDEMNITY COMPANY CL A

−0.1

−43.17%

AIGAMERICAN INTERNATIONAL GROUP

−0.1

+8.13%

SPGIS+P GLOBAL INC

−0.1

−6.97%

BROBROWN + BROWN INC

−0.1

−27.78%

ACGLARCH CAPITAL GROUP LTD

−0.1

+2.86%

AJGARTHUR J GALLAGHER + CO

−0.1

−5.03%

COINCOINBASE GLOBAL INC CLASS A

−0.1

−5.12%

BRK-BBERKSHIRE HATHAWAY INC CL B

−0.1

+12.45%

FISFIDELITY NATIONAL INFO SERV

−0.2

−45.73%

PGRPROGRESSIVE CORP

−0.2

+1.16%

MRSHMARSH + MCLENNAN COS

−0.2

−11.13%

FISVFISERV INC

−0.5

−68.79%

Cap weighting, illustrated

JPMORGAN CHASE + CO and FRANKLIN TEMPLETON INC moved almost identically (+72.51% vs +73.22%), yet JPM moved the XLF 125.0× 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 +14.43 pt move · cell size = points contributed · color = direction, intensity = return

JPM+2.9 pts(+72.5%)

V+1.5 pts(+45.1%)

BAC+1.4 pts(+70.1%)

GS+1.2 pts(+121.7%)

MS+1.1 pts(+125.3%)

C+1.0 pts(+127.6%)

MA+1.0 pts(+29.0%)

WFC+0.7 pts(+56.8%)

SCHW+0.6 pts(+77.1%)

HOOD+0.5 pts(+465.3%)

BNY+0.5 pts(+159.8%)

FISV−0.5 pts(−68.8%)

AXP+0.4 pts

COF+0.4 pts

BLK+0.4 pts

USB

STT

IBKR+0.2 pts

PNC+0.2 pts

MRSH

CME+0.2 pts

PGR−0.2 pts

NTRS

BRK-B

NDAQ

TRV

AJG

FITB

ACGL

RJF

BRO

CFG

MET

XYZ

Concentration curve

cumulative share of the +14.43 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%0%+100%+200%+300%+400%

From −68.79% (FISV) to +465.25% (HOOD). Equal-weight, the XLF would be +42.53% vs the actual +32.89%; the gap is what cap weighting did.

By sector

point contribution · sums to +14.43 pts

-76

+14.7

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

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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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