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

Communication Services5.0%+1.82 pp Consumer Staples9.1%+0.76 pp Materials2.8%+0.64 pp Utilities3.9%+0.57 pp Health Care17.2%+0.54 pp Real Estate3.9%+0.51 pp Consumer Discretionary7.0%-0.07 pp Information Technology17.6%-0.07 pp Energy3.9%-1.29 pp Financials16.3%-1.64 pp Industrials13.4%-1.77 pp

2 · Industry

Inside Industrials

Aerospace & Defense5.41%-1.40 pp Air Freight & Logistics0.71%-0.27 pp Environmental & Facilities Services0.48%+0.13 pp Industrial Machinery & Supplies & Components0.91%-0.11 pp Electrical Components & Equipment0.61%-0.10 pp Construction Machinery & Heavy Transportation Equipment0.68%-0.10 pp Human Resource & Employment Services0.59%+0.09 pp Industrial Conglomerates1.14%-0.09 pp Data Processing & Outsourced Services0.08%+0.08 pp Rail Transportation1.11%+0.07 pp Passenger Airlines0.47%-0.06 pp Agricultural & Farm Machinery0.26%-0.04 pp Cargo Ground Transportation0.05%-0.03 pp Research & Consulting Services0.22%+0.03 pp Trading Companies & Distributors0.08%-0.03 pp Diversified Support Services0.06%+0.03 pp Building Products0.46%+0.03 pp Construction & Engineering0.08%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.47%-0.061 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.47%

Industry change · 12M

-0.06 pp

Passenger Airlines · contribution

-0.061 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

May 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
Delta Air Lines → DAL	United States	$33.7bn	0.196%	+0.001 pp	-0.034 pp	-2.2%	Yes
Southwest Airlines → LUV	United States	$25.8bn	0.151%	-0.029 pp	-0.029 pp	-5.7%	Yes
United Airlines Holdings → UAL	United States	$20.4bn	0.119%	-0.017 pp	+0.002 pp	+11.6%	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.