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 Services5.2%+1.94 pp Materials2.8%+0.73 pp Information Technology17.9%+0.59 pp Utilities3.7%+0.30 pp Real Estate3.7%+0.26 pp Consumer Discretionary7.1%+0.24 pp Consumer Staples8.9%+0.13 pp Industrials14.4%-0.54 pp Health Care16.3%-0.95 pp Energy3.8%-1.22 pp Financials16.3%-1.49 pp

2 · Industry

Inside Industrials

Aerospace & Defense5.35%-1.14 pp Industrial Conglomerates2.18%+0.92 pp Air Freight & Logistics0.78%-0.18 pp Industrial Machinery & Supplies & Components0.91%-0.11 pp Electrical Components & Equipment0.60%-0.11 pp Environmental & Facilities Services0.45%+0.09 pp Passenger Airlines0.48%-0.06 pp Human Resource & Employment Services0.54%+0.05 pp Construction Machinery & Heavy Transportation Equipment0.69%-0.04 pp Research & Consulting Services0.22%+0.03 pp Cargo Ground Transportation0.06%-0.02 pp Diversified Support Services0.06%+0.01 pp Agricultural & Farm Machinery0.28%+0.01 pp Construction & Engineering0.08%+0.00 pp Trading Companies & Distributors0.10%+0.00 pp Building Products0.46%+0.00 pp Rail Transportation1.04%+0.00 pp Data Processing & Outsourced Services0.08%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.48%-0.060 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.48%

Industry change · 12M

-0.06 pp

Passenger Airlines · contribution

-0.060 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jul 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	$27.7bn	0.147%	-0.017 pp	-0.049 pp	-10.3%	No
Delta Air Lines → DAL	United States	$39.7bn	0.211%	-0.002 pp	-0.008 pp	+15.1%	Yes
United Airlines Holdings → UAL	United States	$23.6bn	0.126%	-0.005 pp	-0.002 pp	+14.3%	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.