Open Now: The Global ETF Survey Take the Survey →
Big Tech’s doing the heavy lifting, but the rest of the market isn’t dead weight.


Keep up with what matters in ETFs
Get timely ETF insights, market trends, and top ideas straight to your inbox.
Your newsletter subscriptions with us are subject to ETF Central's Privacy Policy and Terms and Conditions.
Market-watchers are whispering about market breadth again. So, what do I think? I’m watching it. But I’m not worrying too much (yet).
Take a look at the MoneyShow Chart of the Day here. It shows the three-month percentage change in the SPDR S&P 500 ETF Trust (SPY), the Invesco S&P 500 Equal Weight ETF (RSP), and the iShares Russell 2000 ETF (IWM).
From AI infrastructure to active strategies, the ETF landscape is shifting. Share your perspective in the 7th Annual Global ETF Survey and get exclusive early access to the final report.

Data by YCharts
As you can see, the performance gap between the SPY and the RSP has gradually widened out since mid-April. The former is beating the latter by about six percentage points.
That has been accompanied by warnings from the likes of Goldman Sachs, which recently said the averages were exhibiting “one of the narrowest readings of market breadth in recent decades.” Morningstar also noted that only 18% of the stocks in its US Large-Mid Index hit new 52-week highs in July, and that “Big Tech” was the primary driver of Q2 gains for US stocks.
But we’re still seeing healthy performance by smaller-cap stocks, as indicated by the IWM advance. Plus, I’m not seeing worrisome moves in the credit markets – or in other indicators I follow like the Citigroup Economic Surprise Index.
We have a lot of “big events” coming up. That includes Fed meetings and the Aug. 1 tariff deal deadline. So, I don’t want to just whistle past the graveyard. But so far, breadth looks like just another thing to watch…rather than worry too much about.
If you want to get more articles and chart analysis from MoneyShow, subscribe to our Top Pros’ Top Picks newsletter here
Please note: This is syndicated content and reflects the author’s personal views. It does not represent the opinions of this publication or its affiliates. The article is for informational purposes only and does not constitute investment advice. Always consult a registered financial professional before making any investment decisions.
Topics
See all
Latest ETF News
See all ETF newsMoneyShow Chart of the Day 7/29/26: Now, THAT's What I Call Market Rotation!


MoneyShow Chart of the Day 7/16/26: Good News/Bad News on Inflation (and the Fed)


MoneyShow Chart of the Day 7/1/26: The H1 Scorecard – and What Comes Next


MoneyShow Chart of the Day 6/22/26: Are World Cup Videos Helping US Companies Clean Up?


Advantages of ETFs over Mutual Funds1/6
Lower Costs
In this guide, we'll explore the advantages of ETFs over mutual funds, giving you valuable insights into why ETFs have gained significant popularity among investors like yourself.
Leveraged ETFs: Unlocking the Potential for Amplified Returns1/6
Understanding Leveraged ETFs
Explore leveraged ETFs: potential for amplified returns & risks. 5 ETFs to consider across equities, commodities & fixed income.
What is a Leveraged ETF?1/6
Introducing Leveraged and Inverse ETFs
In this guide, we'll dive into the world of leveraged ETFs, exploring their definition, mechanics, potential risks, and rewards.
ETF Trends
ETF Industry KPIs July 20, 2026
This week’s KPI data overview highlights key metrics and trends shaping the ETF landscape.

ETF Trends
ETF Industry KPIs July 13, 2026
This week’s KPI data overview highlights key metrics and trends shaping the ETF landscape.

First Look ETF
First Look ETF: Cash Deployment, Bond, and Hedged ETFs
In this season 6 episode of First Look ETF, Stephanie Stanton examines the latest ETF marketplace trends with NYSE and guests.

ETF Trends
ETF Industry KPIs July 6, 2026
This week’s KPI data overview highlights key metrics and trends shaping the ETF landscape.

Direxion partnered with Compound Insights and Vanda to explore what’s driving the evolution of active trading — and how active traders are using leveraged and inverse funds across equities, single stocks, commodities, and volatility.
