An apparatus such as a graphics processing unit (GPU) includes a plurality of processing elements configured to concurrently execute a plurality of first waves and accumulators associated with the plurality of processing elements. The accumulators are configured to store accumulated values representative of behavioral characteristics of the plurality of first waves that are concurrently executing on the plurality of processing elements. The apparatus also includes a dispatcher configured to dispatch second waves to the plurality of processing elements based on comparisons of values representative of behavioral characteristics of the second waves and the accumulated values stored in the accumulators. In some cases, the behavioral characteristics of the plurality of first waves comprise at least one of fetch bandwidths, usage of an arithmetic logic unit (ALU), and number of export operations.