30 members · detractors first · 5Y · residual 1565.5bp exceeds 60bp gate
The XLRE fell 7.38% (−3.31 pts) over five years, but 15 of 30 members went the other way. CSGP and ARE dragged the tape lower, contributing more than the entire move.
AMERICAN TOWER CORP and INVITATION HOMES INC moved almost identically (−20.43% vs −18.89%), yet AMT moved the XLRE 5.1× 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 −3.31 pt move · cell size = points contributed · color = direction, intensity = return
WELL+3.1 pts(+201.9%)
EQIX+1.5 pts(+42.9%)
CSGP−1.3 pts(−66.2%)
IRM+1.2 pts(+212.1%)
ARE−1.2 pts(−70.9%)
CCI−1.1 pts(−41.9%)
AMT−0.8 pts(−20.4%)
SPG+0.7 pts(+93.4%)
SBAC−0.7 pts(−40.9%)
VTR+0.6 pts(+71.4%)
DOC−0.5 pts(−26.4%)
DLR+0.4 pts(+45.2%)
WY−0.4 pts
MAA−0.3 pts
BXP−0.3 pts
UDR−0.3 pts
VICI
PSA
PLD−0.3 pts
CPT
VMRK
INVH−0.2 pts
HST
O
Concentration curve
cumulative share of the −3.31 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−100%0%+100%+200%
From −70.90% (ARE) to +212.15% (IRM). Equal-weight, the XLRE would be +9.72% vs the actual −7.38%; the gap is what cap weighting did.
By sector
point contribution · sums to −3.31 pts
-30
−0.1
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUGSEPOCT
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Real Estate · Select Sector
What moved the market
5Y · OCT 9, 2026
−7.38%
−3.3 pts · closed 41.62
15 of 30 rose · 15 fell
WELL+201.9%
+3.1
EQIX+42.9%
+1.5
IRM+212.1%
+1.2
SPG+93.4%
+0.7
VTR+71.4%
+0.6
SBAC−40.9%
−0.7
AMT−20.4%
−0.8
CCI−41.9%
−1.1
ARE−70.9%
−1.2
CSGP−66.2%
−1.3
CSGP sank a split tape · 15 of 30 went the other wayWMTMT.COM
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