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›Health Care›Biotechnology›Biotechnology

1 · Sector

Weight and 12M allocation change

Consumer Discretionary46.1%+39.16 pp Materials1.8%-1.34 pp Real Estate1.7%-1.86 pp Energy1.1%-2.06 pp Utilities1.7%-2.24 pp Communication Services2.8%-2.38 pp Information Technology16.1%-3.01 pp Consumer Staples4.4%-4.39 pp Industrials6.9%-6.49 pp Health Care9.7%-6.87 pp Financials7.7%-8.52 pp

2 · Industry

Inside Health Care

Pharmaceuticals2.94%-2.47 pp Health Care Equipment1.97%-1.40 pp Biotechnology1.37%-1.01 pp Managed Health Care1.14%-0.81 pp Life Sciences Tools & Services1.26%-0.50 pp Health Care Services0.53%-0.46 pp Health Care Distributors0.18%-0.16 pp Health Care Facilities0.13%-0.10 pp Health Care Supplies0.16%+0.04 pp Health Care Technology0.00%+0.00 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology1.37%-1.006 pp

Broad

The loss is shared across much of the industry.

View all contributions →

Biotechnology · weight

1.37%

Industry change · 12M

-1.01 pp

Biotechnology · contribution

-1.006 pp

Company participation

29%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jan 2021 · 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
Amgen → AMGN	United States	$140.6bn	0.337%	-0.261 pp	-0.297 pp	+14.8%	No
Gilead Sciences → GILD	United States	$82.2bn	0.197%	-0.148 pp	-0.198 pp	+8.0%	Yes
AbbVie → ABBV	United States	$180.9bn	0.433%	-0.278 pp	-0.158 pp	+33.3%	No
Vertex Pharmaceuticals → VRTX	United States	$59.6bn	0.143%	-0.114 pp	-0.145 pp	+0.9%	No
Biogen → BIIB	United States	$43.5bn	0.104%	-0.079 pp	-0.135 pp	+5.1%	Yes
Regeneron Pharmaceuticals → REGN	United States	$47.3bn	0.113%	-0.128 pp	-0.043 pp	+49.1%	No
Incyte → INCY	United States	$19.7bn	0.047%	-0.043 pp	-0.031 pp	+22.8%	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.