31 members · detractors first · 3Y · residual 7918.6bp exceeds 60bp gate
The XLU fell 31.80% (−20.19 pts) over three years, but 30 of 31 members went the other way. PCG and AES dragged the tape lower, accounting for 4% of the decline.
SOUTHERN CO/THE and PINNACLE WEST CAPITAL moved almost identically (+47.00% vs +40.05%), yet SO moved the XLU 17.2× 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 −20.19 pt move · cell size = points contributed · color = direction, intensity = return
CEG+5.2 pts(+170.5%)
VST+2.8 pts(+379.8%)
AEP+1.9 pts(+71.7%)
SO+1.8 pts(+47.0%)
DUK+1.7 pts(+48.3%)
ETR+1.6 pts(+145.0%)
NRG+1.6 pts(+228.3%)
XEL+1.3 pts
NEE+1.2 pts(+35.7%)
D+0.9 pts(+59.7%)
SRE+0.8 pts(+31.1%)
WEC+0.6 pts(+36.9%)
ATO+0.6 pts
PEG
NI+0.5 pts(+67.6%)
PCG−0.5 pts(+11.7%)
PPL+0.5 pts
AEE+0.4 pts
CNP
DTE+0.4 pts
LNT+0.4 pts
FE
EVRG+0.3 pts
ED+0.3 pts
CMS+0.3 pts
EXC+0.3 pts
ES
AWK
Concentration curve
cumulative share of the −20.19 pt move · sorted by contribution
When they drove it
cumulative points through the period
Breadth
member returns, this period
−50%+50%+150%+250%+350%
From −6.40% (AES) to +379.85% (VST). Equal-weight, the XLU would be +64.27% vs the actual −31.80%; the gap is what cap weighting did.
By sector
point contribution · sums to −20.19 pts
-31
+26.1
The year, session by session
every trading day of 2026 · hover for the move
JANFEBMARAPRMAYJUNJULAUG
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Utilities · Select Sector
What moved the market
3Y · AUG 25, 2026
−31.80%
−20.2 pts · closed 43.30
30 of 31 rose · 1 fell
CEG+170.5%
+5.2
VST+379.8%
+2.8
AEP+71.7%
+1.9
SO+47.0%
+1.8
DUK+48.3%
+1.7
EIX+24.3%
−0.0
AWK+5.8%
−0.1
AES−6.4%
−0.2
PCG+11.7%
−0.5
PCG sank a split tape · 30 of 31 went the other wayWMTMT.COM
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