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

Consumer Discretionary48.2%+41.13 pp Materials1.1%-1.05 pp Utilities2.0%-1.12 pp Real Estate2.0%-1.28 pp Communication Services2.0%-1.49 pp Energy2.5%-2.22 pp Consumer Staples5.2%-4.15 pp Information Technology9.8%-6.27 pp Health Care10.0%-6.71 pp Industrials7.6%-7.94 pp Financials9.6%-8.89 pp

2 · Industry

Inside Industrials

Aerospace & Defense3.13%-3.95 pp Industrial Conglomerates0.67%-0.70 pp Industrial Machinery & Supplies & Components0.51%-0.56 pp Air Freight & Logistics0.50%-0.48 pp Construction Machinery & Heavy Transportation Equipment0.36%-0.47 pp Rail Transportation0.59%-0.36 pp Electrical Components & Equipment0.37%-0.35 pp Passenger Airlines0.30%-0.25 pp Building Products0.23%-0.23 pp Human Resource & Employment Services0.29%-0.16 pp Agricultural & Farm Machinery0.15%-0.16 pp Environmental & Facilities Services0.23%-0.12 pp Research & Consulting Services0.11%-0.07 pp Trading Companies & Distributors0.05%-0.06 pp Data Processing & Outsourced Services0.05%+0.05 pp Cargo Ground Transportation0.04%-0.03 pp Construction & Engineering0.05%-0.03 pp Diversified Support Services0.03%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.30%-0.251 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.30%

Industry change · 12M

-0.25 pp

Passenger Airlines · contribution

-0.251 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Oct 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
Southwest Airlines → LUV	United States	$27.6bn	0.094%	-0.103 pp	-0.112 pp	-18.6%	No
Delta Air Lines → DAL	United States	$37.5bn	0.127%	-0.092 pp	-0.104 pp	-1.8%	No
United Airlines Holdings → UAL	United States	$23.3bn	0.079%	-0.049 pp	-0.036 pp	+26.1%	No

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.