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 Discretionary47.6%+40.56 pp Materials1.4%-0.73 pp Utilities2.1%-1.09 pp Real Estate2.0%-1.22 pp Communication Services2.1%-1.38 pp Energy2.4%-2.26 pp Consumer Staples5.2%-4.20 pp Health Care10.5%-6.24 pp Information Technology9.7%-6.37 pp Industrials7.4%-8.17 pp Financials9.6%-8.90 pp

2 · Industry

Inside Industrials

Aerospace & Defense2.71%-4.37 pp Industrial Conglomerates0.69%-0.68 pp Industrial Machinery & Supplies & Components0.55%-0.53 pp Air Freight & Logistics0.52%-0.46 pp Construction Machinery & Heavy Transportation Equipment0.39%-0.44 pp Rail Transportation0.60%-0.34 pp Electrical Components & Equipment0.38%-0.34 pp Passenger Airlines0.33%-0.22 pp Building Products0.25%-0.22 pp Human Resource & Employment Services0.30%-0.15 pp Agricultural & Farm Machinery0.17%-0.14 pp Environmental & Facilities Services0.24%-0.11 pp Research & Consulting Services0.11%-0.07 pp Trading Companies & Distributors0.05%-0.06 pp Data Processing & Outsourced Services0.04%+0.04 pp Cargo Ground Transportation0.04%-0.04 pp Construction & Engineering0.04%-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 Airlines0.33%-0.223 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.33%

Industry change · 12M

-0.22 pp

Passenger Airlines · contribution

-0.223 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Nov 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	$30.7bn	0.102%	-0.011 pp	-0.104 pp	-9.5%	No
Delta Air Lines → DAL	United States	$41.6bn	0.138%	+0.008 pp	-0.093 pp	+9.6%	No
United Airlines Holdings → UAL	United States	$26.3bn	0.088%	+0.011 pp	-0.027 pp	+42.6%	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.