XLF · WMTMT

May 26Jun 17Jul 13Aug 3Aug 25

Breadth

69 / 76

stocks rose with the index

Concentration

36%

of the gain from JPM, V, MA

Biggest driver

JPM +1.04

JPMORGAN CHASE + CO, +16.29%

Biggest drag

CBOE −0.05

CBOE GLOBAL MARKETS INC, −12.60%

What drove it

76 members · drivers first · 3M · residual 19.3bp within 60bp gate

The XLF rose 12.44% (+6.45 pts) over the past three months in a broad advance: 69 of 76 stocks rose, with JPM out front at +1.04 points.

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

+6.6 pts from 68 gainers−0.2 pts from 8 losers

net +6.4 pts · gainers outweigh losers 41.8 to 1

Stock

Points

Return

XLFsum of all 76 stocks

+6.4

+12.44%

JPMJPMORGAN CHASE + CO

+1.0

+16.29%

VVISA INC CLASS A SHARES

+0.6

+17.62%

MAMASTERCARD INC A

+0.6

+21.55%

BACBANK OF AMERICA CORP

+0.5

+21.07%

SCHWSCHWAB (CHARLES) CORP

+0.3

+25.58%

HOODROBINHOOD MARKETS INC A

+0.2

+51.29%

GSGOLDMAN SACHS GROUP INC

+0.2

+6.94%

MSMORGAN STANLEY

+0.2

+7.43%

WFCWELLS FARGO + CO

+0.2

+9.37%

COFCAPITAL ONE FINANCIAL CORP

+0.2

+16.05%

BXBLACKSTONE INC

+0.1

+21.40%

BRK-BBERKSHIRE HATHAWAY INC CL B

+0.1

+4.25%

AJGARTHUR J GALLAGHER + CO

+0.1

+32.08%

CCITIGROUP INC

+0.1

+5.04%

BNYBANK OF NEW YORK MELLON CORP

+0.1

+16.02%

46 othersclick to expand the full index

+2.0

EGEVEREST GROUP LTD

+0.0

+7.22%

ERIEERIE INDEMNITY COMPANY CL A

+0.0

+15.65%

GLGLOBE LIFE INC

+0.0

+9.92%

WRBWR BERKLEY CORP

+0.0

+3.68%

KEYKEYCORP

+0.0

+1.50%

CINFCINCINNATI FINANCIAL CORP

+0.0

+3.20%

LLOEWS CORP

+0.0

+1.64%

HIGHARTFORD INSURANCE GROUP INC

−0.0

+2.60%

FISFIDELITY NATIONAL INFO SERV

−0.0

−3.05%

AIGAMERICAN INTERNATIONAL GROUP

−0.0

−0.38%

AFLAFLAC INC

−0.0

−0.54%

MSCIMSCI INC

−0.0

−4.15%

CMECME GROUP INC

−0.0

−1.35%

FISVFISERV INC

−0.0

−5.70%

CBOECBOE GLOBAL MARKETS INC

−0.1

−12.60%

Cap weighting, illustrated

JPMORGAN CHASE + CO and ERIE INDEMNITY COMPANY CL A moved almost identically (+16.29% vs +15.65%), yet JPM moved the XLF 103.7× 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 +6.45 pt move · cell size = points contributed · color = direction, intensity = return

JPM+1.0 pts(+16.3%)

V+0.6 pts(+17.6%)

MA+0.6 pts(+21.5%)

BAC+0.5 pts(+21.1%)

SCHW+0.3 pts(+25.6%)

HOOD+0.2 pts

GS+0.2 pts

WFC+0.2 pts(+9.4%)

COF+0.2 pts(+16.0%)

BX+0.1 pts(+21.4%)

BRK-B+0.1 pts(+4.2%)

AJG+0.1 pts(+32.1%)

C+0.1 pts

BNY+0.1 pts

BLK

PYPL+0.1 pts

AXP+0.1 pts

TRV+0.1 pts

MRSH

USB

KKR+0.1 pts

SPGI+0.1 pts

STT

ALL

PNC

WTW

MCO

IBKR

PGR

PRU

AON

ICE

MET

GPN

FITB

ARES

Concentration curve

cumulative share of the +6.45 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−20%0%+20%+40%

From −12.60% (CBOE) to +51.29% (HOOD). Equal-weight, the XLF would be +13.59% vs the actual +12.44%; the gap is what cap weighting did.

By sector

point contribution · sums to +6.45 pts

-76

+6.4

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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