30 members · drivers first · YTD · residual 123.4bp exceeds 60bp gate
The XLRE rose 3.14% (+1.27 pts) so far this year, but 14 of 30 members went the other way. EQIX and WELL carried the tape higher, contributing more than the entire move.
AMERICAN TOWER CORP and ESSEX PROPERTY TRUST INC moved almost identically (+5.85% vs +6.87%), yet AMT moved the XLRE 28.4× 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 +1.27 pt move · cell size = points contributed · color = direction, intensity = return
EQIX+1.3 pts(+35.3%)
WELL+1.2 pts(+22.3%)
CSGP−0.9 pts(−55.9%)
CBRE−0.8 pts(−18.6%)
IRM+0.6 pts(+40.2%)
AMT+0.3 pts(+5.8%)
SPG+0.3 pts
WY−0.3 pts
VTR+0.2 pts(+7.3%)
PLD−0.2 pts(+2.8%)
DLR+0.2 pts
VMRK−0.2 pts
VICI−0.2 pts(−15.9%)
KIM+0.2 pts(+11.8%)
CCI−0.2 pts
O+0.1 pts
PSA+0.1 pts
HST+0.1 pts
EXR
MAA
BXP
CPT−0.1 pts
DOC+0.1 pts
UDR
SBAC
Concentration curve
cumulative share of the +1.27 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−75%−50%−25%0%+25%
From −55.87% (CSGP) to +40.16% (IRM). Equal-weight, the XLRE would be +2.76% vs the actual +3.14%; the gap is what cap weighting did.
By sector
point contribution · sums to +1.27 pts
-30
+1.9
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
YTD · OCT 9, 2026
+3.14%
+1.3 pts · closed 41.62
16 of 30 rose · 14 fell
EQIX+35.3%
+1.3
WELL+22.3%
+1.2
IRM+40.2%
+0.6
AMT+5.8%
+0.3
SPG+10.1%
+0.3
VMRK−11.0%
−0.2
PLD+2.8%
−0.2
WY−18.0%
−0.3
CBRE−18.6%
−0.8
CSGP−55.9%
−0.9
EQIX carried a split tape · 14 of 30 went the other wayWMTMT.COM
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