Observatory · observe first

Follow the allocation change

Matched S&P 500 members → sector → industry → sub-industry → company. Each step uses the same percentage points.

Historical time machine

Historical observation

20182026

Universe›Industrials›Passenger Airlines›Passenger Airlines

1 · Sector

Weight and 12M allocation change

Information Technology16.9%+0.89 pp Financials18.6%+0.16 pp Health Care16.8%+0.07 pp Utilities3.2%+0.02 pp Materials2.1%-0.02 pp Real Estate3.2%-0.05 pp Consumer Discretionary7.0%-0.09 pp Communication Services3.3%-0.14 pp Industrials15.3%-0.24 pp Energy4.4%-0.28 pp Consumer Staples9.0%-0.33 pp

2 · Industry

Inside Industrials

Aerospace & Defense6.93%-0.15 pp Air Freight & Logistics0.91%-0.07 pp Industrial Conglomerates1.35%-0.02 pp Construction Machinery & Heavy Transportation Equipment0.82%-0.01 pp Industrial Machinery & Supplies & Components1.07%-0.01 pp Environmental & Facilities Services0.36%+0.01 pp Electrical Components & Equipment0.73%+0.01 pp Human Resource & Employment Services0.45%-0.01 pp Agricultural & Farm Machinery0.31%+0.00 pp Building Products0.46%-0.00 pp Passenger Airlines0.55%-0.00 pp Research & Consulting Services0.18%+0.00 pp Trading Companies & Distributors0.11%+0.00 pp Cargo Ground Transportation0.08%+0.00 pp Rail Transportation0.94%-0.00 pp Diversified Support Services0.03%+0.00 pp Construction & Engineering0.07%+0.00 pp Data Processing & Outsourced Services0.00%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.55%-0.003 pp

Concentrated

Most of this industry's losses came from a few companies.

View all contributions →

Passenger Airlines · weight

0.55%

Industry change · 12M

-0.00 pp

Passenger Airlines · contribution

-0.003 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 2018 · sorted by absolute contribution to 12-month change

Company	Country	Market cap	Universe weight	3M contribution	12M contribution	12M price return	Above 6M weight average
Delta Air Lines → DAL	United States	$38.1bn	0.228%	-0.003 pp	-0.003 pp	-4.5%	No
Southwest Airlines → LUV	United States	$34.0bn	0.204%	-0.002 pp	-0.002 pp	-4.9%	No
United Airlines Holdings → UAL	United States	$19.3bn	0.116%	+0.001 pp	+0.001 pp	-0.0%	Yes

Company contributions use weights among matched S&P 500 members and add through each level without rescaling. Companies without matched shares and prices are omitted. These observations do not establish official index weights or actual fund flows.