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

Health Care17.9%+1.29 pp Information Technology17.9%+0.79 pp Utilities3.9%+0.52 pp Materials2.5%+0.42 pp Real Estate3.8%+0.41 pp Communication Services3.6%+0.24 pp Consumer Discretionary7.2%+0.13 pp Consumer Staples9.1%-0.01 pp Energy4.4%-0.26 pp Industrials13.8%-1.36 pp Financials16.0%-2.17 pp

2 · Industry

Inside Industrials

Aerospace & Defense5.52%-1.24 pp Human Resource & Employment Services0.57%+0.12 pp Rail Transportation1.10%+0.12 pp Industrial Machinery & Supplies & Components0.97%-0.11 pp Air Freight & Logistics0.82%-0.10 pp Environmental & Facilities Services0.45%+0.10 pp Construction Machinery & Heavy Transportation Equipment0.72%-0.08 pp Passenger Airlines0.49%-0.08 pp Industrial Conglomerates1.23%-0.07 pp Data Processing & Outsourced Services0.07%+0.07 pp Electrical Components & Equipment0.67%-0.06 pp Trading Companies & Distributors0.08%-0.03 pp Diversified Support Services0.05%+0.02 pp Agricultural & Farm Machinery0.29%-0.02 pp Cargo Ground Transportation0.06%-0.02 pp Research & Consulting Services0.21%+0.01 pp Building Products0.45%-0.01 pp Construction & Engineering0.08%+0.01 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.49%-0.077 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.49%

Industry change · 12M

-0.08 pp

Passenger Airlines · contribution

-0.077 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Mar 2019 · 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	$28.7bn	0.165%	+0.071 pp	-0.042 pp	-8.3%	Yes
Delta Air Lines → DAL	United States	$35.1bn	0.201%	+0.079 pp	-0.036 pp	-3.3%	Yes
United Airlines Holdings → UAL	United States	$21.3bn	0.122%	+0.041 pp	+0.001 pp	+14.8%	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.