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

Financials14.2%+1.72 pp Information Technology28.5%+1.35 pp Consumer Discretionary7.8%+0.98 pp Energy2.5%+0.82 pp Materials3.2%+0.05 pp Real Estate3.2%+0.01 pp Health Care16.5%-0.40 pp Utilities3.0%-0.41 pp Communication Services3.9%-1.00 pp Consumer Staples7.0%-1.51 pp Industrials10.2%-1.61 pp

2 · Industry

Inside Health Care

Pharmaceuticals4.64%-0.39 pp Biotechnology2.35%-0.08 pp Health Care Facilities0.27%+0.07 pp Life Sciences Tools & Services2.30%+0.06 pp Health Care Equipment3.44%-0.04 pp Health Care Distributors0.27%-0.04 pp Managed Health Care2.14%+0.03 pp Health Care Services0.81%-0.03 pp Health Care Supplies0.29%+0.01 pp Health Care Technology0.00%+0.00 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology2.35%-0.078 pp

Broad

The loss is shared across much of the industry.

View all contributions →

Biotechnology · weight

2.35%

Industry change · 12M

-0.08 pp

Biotechnology · contribution

-0.078 pp

Company participation

25%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Oct 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
Moderna → MRNA	United States	$139.3bn	0.465%	-0.021 pp	+0.465 pp	+411.6%	Yes
Amgen → AMGN	United States	$117.5bn	0.393%	-0.083 pp	-0.205 pp	-1.8%	No
Vertex Pharmaceuticals → VRTX	United States	$48.0bn	0.160%	-0.019 pp	-0.096 pp	-11.2%	No
Gilead Sciences → GILD	United States	$81.3bn	0.272%	-0.022 pp	-0.073 pp	+16.5%	No
Biogen → BIIB	United States	$39.2bn	0.131%	-0.036 pp	-0.053 pp	+5.8%	No
Regeneron Pharmaceuticals → REGN	United States	$60.1bn	0.201%	+0.016 pp	-0.041 pp	+17.7%	Yes
Incyte → INCY	United States	$14.8bn	0.049%	-0.009 pp	-0.040 pp	-22.7%	No
AbbVie → ABBV	United States	$202.6bn	0.677%	-0.027 pp	-0.034 pp	+41.2%	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.