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 Technology17.3%+1.25 pp Health Care17.2%+0.52 pp Energy5.0%+0.34 pp Utilities3.4%+0.20 pp Real Estate3.4%+0.18 pp Materials2.0%-0.09 pp Communication Services3.2%-0.22 pp Consumer Discretionary6.9%-0.22 pp Consumer Staples8.8%-0.59 pp Financials17.8%-0.67 pp Industrials14.9%-0.68 pp

2 · Industry

Inside Industrials

Aerospace & Defense6.48%-0.60 pp Industrial Conglomerates1.26%-0.11 pp Construction Machinery & Heavy Transportation Equipment0.73%-0.10 pp Rail Transportation1.04%+0.10 pp Data Processing & Outsourced Services0.08%+0.08 pp Industrial Machinery & Supplies & Components1.02%-0.06 pp Human Resource & Employment Services0.49%+0.04 pp Agricultural & Farm Machinery0.27%-0.03 pp Diversified Support Services0.05%+0.03 pp Air Freight & Logistics0.96%-0.02 pp Research & Consulting Services0.19%+0.01 pp Trading Companies & Distributors0.10%-0.01 pp Environmental & Facilities Services0.36%+0.01 pp Building Products0.46%-0.01 pp Passenger Airlines0.54%-0.01 pp Electrical Components & Equipment0.72%-0.00 pp Construction & Engineering0.08%+0.00 pp Cargo Ground Transportation0.08%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.54%-0.007 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.54%

Industry change · 12M

-0.01 pp

Passenger Airlines · contribution

-0.007 pp

Company participation

67%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jul 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
United Airlines Holdings → UAL	United States	$21.9bn	0.128%	+0.013 pp	+0.013 pp	+18.5%	Yes
Delta Air Lines → DAL	United States	$37.6bn	0.219%	-0.006 pp	-0.011 pp	-2.4%	No
Southwest Airlines → LUV	United States	$33.7bn	0.197%	+0.006 pp	-0.009 pp	-3.8%	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.