XLF · WMTMT

Dec 31Mar 13May 21Aug 3Oct 9

Breadth

34 / 76

stocks fell with the index

Concentration

100%+

of the decline from AXP, KKR, BX

Biggest driver

AXP −0.28

AMERICAN EXPRESS CO, −16.03%

Biggest offset

JPM +0.36

JPMORGAN CHASE + CO, +4.33%

What drove it

76 members · detractors first · YTD · residual 82.6bp exceeds 60bp gate

The XLF fell 0.07% (−0.04 pts) so far this year, but 42 of 76 members went the other way. AXP and KKR dragged the tape lower, contributing more than the entire move.

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

+2.4 pts from 37 gainers−2.5 pts from 39 losers

net −0.0 pts · losers outweigh gainers 1.0 to 1

Stock

Points

Return

XLFsum of all 76 stocks

−0.0

−0.07%

AXPAMERICAN EXPRESS CO

−0.3

−16.03%

KKRKKR + CO INC

−0.2

−28.16%

BXBLACKSTONE INC

−0.2

−24.29%

COFCAPITAL ONE FINANCIAL CORP

−0.2

−17.08%

SPGIS+P GLOBAL INC

−0.2

−17.44%

WFCWELLS FARGO + CO

−0.2

−9.37%

FISVFISERV INC

−0.2

−32.07%

FISFIDELITY NATIONAL INFO SERV

−0.1

−47.73%

AONAON PLC CLASS A

−0.1

−22.14%

PYPLPAYPAL HOLDINGS INC

−0.1

−4.28%

COINCOINBASE GLOBAL INC CLASS A

−0.1

−20.67%

PGRPROGRESSIVE CORP

−0.1

+1.70%

ICEINTERCONTINENTAL EXCHANGE IN

−0.0

−2.92%

APOAPOLLO GLOBAL MANAGEMENT INC

−0.0

−17.32%

HOODROBINHOOD MARKETS INC A

−0.0

−3.61%

46 othersclick to expand the full index

−0.1

NTRSNORTHERN TRUST CORP

+0.0

+24.44%

XYZBLOCK INC

+0.0

+18.67%

USBUS BANCORP

+0.1

+8.94%

PNCPNC FINANCIAL SERVICES GROUP

+0.1

+6.64%

METMETLIFE INC

+0.1

+26.40%

STTSTATE STREET CORP

+0.1

+38.07%

IBKRINTERACTIVE BROKERS GRO CL A

+0.1

+36.92%

TRVTRAVELERS COS INC/THE

+0.1

+28.12%

GSGOLDMAN SACHS GROUP INC

+0.1

+2.83%

MSMORGAN STANLEY

+0.1

+8.18%

BNYBANK OF NEW YORK MELLON CORP

+0.1

+23.99%

BACBANK OF AMERICA CORP

+0.1

+0.55%

CCITIGROUP INC

+0.3

+12.20%

VVISA INC CLASS A SHARES

+0.3

+10.36%

JPMJPMORGAN CHASE + CO

+0.4

+4.33%

Cap weighting, illustrated

JPMORGAN CHASE + CO and WR BERKLEY CORP moved almost identically (+4.33% vs +4.67%), yet JPM moved the XLF 36.4× 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 −0.04 pt move · cell size = points contributed · color = direction, intensity = return

JPM+0.4 pts(+4.3%)

V+0.3 pts(+10.4%)

AXP−0.3 pts(−16.0%)

C+0.3 pts(+12.2%)

KKR−0.2 pts(−28.2%)

BX−0.2 pts(−24.3%)

COF−0.2 pts(−17.1%)

SPGI−0.2 pts(−17.4%)

WFC−0.2 pts(−9.4%)

FISV−0.2 pts

BAC+0.1 pts

BNY+0.1 pts(+24.0%)

FIS−0.1 pts(−47.7%)

MS+0.1 pts(+8.2%)

AON−0.1 pts

PYPL−0.1 pts

COIN−0.1 pts(−20.7%)

GS+0.1 pts(+2.8%)

TRV+0.1 pts(+28.1%)

IBKR+0.1 pts

STT+0.1 pts

MET+0.1 pts

PGR

PNC

USB

ICE−0.0 pts

APO−0.0 pts

HOOD

ARES

NTRS

NDAQ

HIG

CBOE

AJG

BLK

PFG

SYF

ALL

HBAN

AMP

BEN

PRU

CFG

MTB

ACGL

Concentration curve

cumulative share of the −0.04 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−50%−30%−10%+10%+30%

From −47.73% (FIS) to +38.07% (STT). Equal-weight, the XLF would be +2.74% vs the actual −0.07%; the gap is what cap weighting did.

By sector

point contribution · sums to −0.04 pts

-76

−0.1

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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