34 members · drivers first · 3Y · residual 161.4bp exceeds 60bp gate
The XLP rose 18.47% (+13.49 pts) over three years, but 18 of 34 members went the other way. COST and WMT carried the tape higher, accounting for 82% of the gain.
PEPSICO INC and KRAFT HEINZ CO/THE moved almost identically (−11.35% vs −11.66%), yet PEP moved the XLP 4.4× 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 +13.49 pt move · cell size = points contributed · color = direction, intensity = return
COST+4.3 pts(+83.3%)
WMT+3.9 pts(+106.1%)
PM+2.8 pts(+133.8%)
KO+2.7 pts(+64.2%)
MO+1.7 pts(+99.7%)
CASY+1.3 pts(+238.6%)
CL+1.2 pts
MNST−1.0 pts(−15.0%)
STZ−1.0 pts(−44.3%)
KVUE−0.9 pts
TGT+0.7 pts(+38.1%)
PEP−0.7 pts(−11.4%)
GIS−0.6 pts
EL
KR+0.5 pts(+30.5%)
DLTR−0.5 pts(−5.8%)
MKC−0.5 pts
HSY+0.4 pts
BF-B−0.4 pts
HRL
SYY+0.3 pts
TSN
MDLZ
KDP
Concentration curve
cumulative share of the +13.49 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−100%0%+100%+200%
From −55.32% (BF-B) to +238.56% (CASY). Equal-weight, the XLP would be +14.92% vs the actual +18.47%; the gap is what cap weighting did.
By sector
point contribution · sums to +13.49 pts
-34
+12.7
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
Share this move
pick a view, download it as a 16:9 PNG
Consumer Staples · Select Sector
What moved the market
3Y · AUG 25, 2026
+18.47%
+13.5 pts · closed 86.51
16 of 34 rose · 18 fell
COST+83.3%
+4.3
WMT+106.1%
+3.9
PM+133.8%
+2.8
KO+64.2%
+2.7
MO+99.7%
+1.7
GIS−36.1%
−0.6
PEP−11.4%
−0.7
KVUE−4.4%
−0.9
STZ−44.3%
−1.0
MNST−15.0%
−1.0
COST carried a split tape · 18 of 34 went the other wayWMTMT.COM
view 1 of 6
Cycle through the views and download any of them as a 16:9 PNG sized for X. Pasting the page link on X unfurls a server-rendered card on its own.
www.wmtmt.com/xlp?p=3y
Share on X copies the image to your clipboard and opens the composer; paste to attach it.
What moved the market, in your inbox
The daily note publishes here after every close; the week's story lands in your inbox on Fridays, free. Read the daily notes.
Babylon Burns
WMTMT is built by the founders of Babylon Burns, a letter on markets, macro, and the systems behind them. The numbers live here; the arguments live there. Subscribing below joins the Babylon Burns letter.