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

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 Industrials

Aerospace & Defense2.28%-3.35 pp Industrial Conglomerates0.70%-0.51 pp Rail Transportation0.52%-0.47 pp Industrial Machinery & Supplies & Components0.65%-0.32 pp Human Resource & Employment Services0.25%-0.27 pp Electrical Components & Equipment0.36%-0.27 pp Passenger Airlines0.15%-0.27 pp Environmental & Facilities Services0.21%-0.24 pp Construction Machinery & Heavy Transportation Equipment0.41%-0.23 pp Air Freight & Logistics0.45%-0.17 pp Research & Consulting Services0.12%-0.10 pp Building Products0.32%-0.10 pp Diversified Support Services0.07%-0.06 pp Construction & Engineering0.05%-0.03 pp Data Processing & Outsourced Services0.04%-0.03 pp Agricultural & Farm Machinery0.22%-0.03 pp Trading Companies & Distributors0.07%-0.03 pp Cargo Ground Transportation0.06%-0.02 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.15%-0.266 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.15%

Industry change · 12M

-0.27 pp

Passenger Airlines · contribution

-0.266 pp

Company participation

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
Delta Air Lines → DAL	United States	$24.2bn	0.058%	-0.035 pp	-0.120 pp	-31.4%	No
Southwest Airlines → LUV	United States	$25.9bn	0.062%	-0.048 pp	-0.081 pp	-19.8%	No
United Airlines Holdings → UAL	United States	$11.6bn	0.028%	-0.019 pp	-0.066 pp	-46.5%	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.