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

Information Technology26.8%+8.71 pp Materials3.2%-0.02 pp Consumer Discretionary6.8%-0.23 pp Communication Services5.0%-0.29 pp Health Care16.4%-0.39 pp Real Estate3.1%-0.54 pp Consumer Staples8.2%-0.62 pp Utilities3.0%-0.62 pp Industrials12.5%-1.18 pp Energy1.9%-1.53 pp Financials13.2%-3.30 pp

2 · Industry

Inside Industrials

Aerospace & Defense4.10%-1.41 pp Industrial Machinery & Supplies & Components1.22%+0.22 pp Air Freight & Logistics0.89%+0.18 pp Passenger Airlines0.28%-0.18 pp Industrial Conglomerates1.20%-0.15 pp Building Products0.55%+0.12 pp Agricultural & Farm Machinery0.35%+0.08 pp Human Resource & Employment Services0.46%-0.07 pp Cargo Ground Transportation0.11%+0.05 pp Rail Transportation0.94%-0.03 pp Environmental & Facilities Services0.40%-0.03 pp Construction Machinery & Heavy Transportation Equipment0.69%-0.02 pp Trading Companies & Distributors0.13%+0.02 pp Research & Consulting Services0.22%+0.02 pp Construction & Engineering0.09%+0.01 pp Electrical Components & Equipment0.64%-0.01 pp Diversified Support Services0.13%+0.00 pp Data Processing & Outsourced Services0.07%+0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.28%-0.177 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.28%

Industry change · 12M

-0.18 pp

Passenger Airlines · contribution

-0.177 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Nov 2020 · 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	$25.7bn	0.109%	+0.109 pp	-0.078 pp	-29.3%	Yes
United Airlines Holdings → UAL	United States	$13.1bn	0.056%	+0.056 pp	-0.063 pp	-51.5%	Yes
Southwest Airlines → LUV	United States	$27.4bn	0.116%	+0.116 pp	-0.037 pp	-19.0%	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.