XLP · WMTMT

Jul 13Aug 4Aug 26Sep 17Oct 9

Breadth

20 / 34

stocks fell with the index

Concentration

100%+

of the decline from MNST, CASY, PEP

Biggest driver

MNST −0.48

MONSTER BEVERAGE CORP, −10.09%

Biggest offset

PM +0.62

PHILIP MORRIS INTERNATIONAL, +11.65%

What drove it

34 members · detractors first · 3M · residual 31.4bp within 60bp gate

The XLP fell 1.39% (−1.17 pts) over the past three months, and more than all of that decline came from just three stocks: MNST, CASY, PEP.

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 14 gainers−3.6 pts from 20 losers

net −1.2 pts · losers outweigh gainers 1.5 to 1

Stock

Points

Return

XLPsum of all 34 stocks

−1.2

−1.39%

MNSTMONSTER BEVERAGE CORP

−0.5

−10.09%

CASYCASEY S GENERAL STORES INC

−0.5

−24.72%

PEPPEPSICO INC

−0.4

−9.04%

KMBKIMBERLY CLARK CORP

−0.2

−11.43%

CLCOLGATE PALMOLIVE CO

−0.2

−4.75%

BGBUNGE GLOBAL SA

−0.2

−11.94%

SYYSYSCO CORP

−0.2

−6.37%

ADMARCHER DANIELS MIDLAND CO

−0.2

−1.98%

WMTWALMART INC

−0.1

−2.99%

KVUEKENVUE INC

−0.1

−7.10%

MKCMCCORMICK + CO NON VTG SHRS

−0.1

−14.53%

KHCKRAFT HEINZ CO/THE

−0.1

−11.77%

GISGENERAL MILLS INC

−0.1

−11.78%

HSYHERSHEY CO/THE

−0.1

−6.42%

TSNTYSON FOODS INC CL A

−0.1

−7.76%

STZCONSTELLATION BRANDS INC A

−0.1

−8.10%

HRLHORMEL FOODS CORP

−0.1

−21.50%

CLXCLOROX COMPANY

−0.1

−10.80%

DLTRDOLLAR TREE INC

−0.0

−6.12%

MOALTRIA GROUP INC

−0.0

−0.26%

BF-BBROWN FORMAN CORP CLASS B

+0.0

+0.50%

KDPKEURIG DR PEPPER INC

+0.0

+1.63%

CHDCHURCH + DWIGHT CO INC

+0.0

+1.26%

SJMJM SMUCKER CO/THE

+0.1

+9.42%

KRKROGER CO

+0.1

+4.63%

DGDOLLAR GENERAL CORP

+0.1

+3.06%

VYLRVYLOR INC

+0.1

+7.27%

MDLZMONDELEZ INTERNATIONAL INC A

+0.1

+0.92%

PGPROCTER + GAMBLE CO/THE

+0.1

+2.68%

KOCOCA COLA CO/THE

+0.2

+4.51%

COSTCOSTCO WHOLESALE CORP

+0.2

+2.37%

ELESTEE LAUDER COMPANIES CL A

+0.3

+20.85%

TGTTARGET CORP

+0.5

+14.93%

PMPHILIP MORRIS INTERNATIONAL

+0.6

+11.65%

Cap weighting, illustrated

MONSTER BEVERAGE CORP and CLOROX COMPANY moved almost identically (−10.09% vs −10.80%), yet MNST moved the XLP 8.1× 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 −1.17 pt move · cell size = points contributed · color = direction, intensity = return

PM+0.6 pts(+11.6%)

TGT+0.5 pts(+14.9%)

MNST−0.5 pts(−10.1%)

CASY−0.5 pts(−24.7%)

PEP−0.4 pts(−9.0%)

EL+0.3 pts(+20.9%)

COST+0.2 pts

KMB−0.2 pts

CL−0.2 pts

BG−0.2 pts(−11.9%)

SYY−0.2 pts(−6.4%)

KO+0.2 pts(+4.5%)

ADM−0.2 pts(−2.0%)

PG+0.1 pts(+2.7%)

WMT−0.1 pts

KVUE−0.1 pts

MKC−0.1 pts

KHC

GIS−0.1 pts(−11.8%)

HSY−0.1 pts(−6.4%)

TSN−0.1 pts

STZ−0.1 pts

HRL

MDLZ

VYLR

CLX

SJM

DLTR

KDP

Concentration curve

cumulative share of the −1.17 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−30%−20%−10%0%+10%+20%

From −24.72% (CASY) to +20.85% (EL). Equal-weight, the XLP would be −3.08% vs the actual −1.39%; the gap is what cap weighting did.

By sector

point contribution · sums to −1.17 pts

-34

−1.2

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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