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

Health Care17.6%+1.90 pp Energy4.0%+1.62 pp Information Technology26.9%+1.35 pp Utilities3.6%+0.53 pp Consumer Staples7.7%+0.52 pp Real Estate3.4%+0.27 pp Materials3.5%-0.04 pp Consumer Discretionary6.7%-0.71 pp Communication Services3.8%-0.73 pp Financials12.8%-1.90 pp Industrials10.0%-2.80 pp

2 · Industry

Inside Industrials

Aerospace & Defense2.31%-2.10 pp Industrial Conglomerates0.88%-0.24 pp Air Freight & Logistics0.75%-0.16 pp Industrial Machinery & Supplies & Components1.05%-0.13 pp Building Products0.47%-0.12 pp Construction Machinery & Heavy Transportation Equipment0.66%-0.08 pp Rail Transportation0.95%+0.07 pp Human Resource & Employment Services0.50%+0.07 pp Passenger Airlines0.25%-0.06 pp Electrical Components & Equipment0.58%-0.06 pp Environmental & Facilities Services0.45%+0.05 pp Heavy Electrical Equipment0.06%-0.02 pp Research & Consulting Services0.19%-0.01 pp Construction & Engineering0.12%+0.01 pp Agricultural & Farm Machinery0.39%-0.01 pp Trading Companies & Distributors0.13%-0.01 pp Data Processing & Outsourced Services0.06%-0.00 pp Cargo Ground Transportation0.12%-0.00 pp Diversified Support Services0.11%-0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.25%-0.057 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.25%

Industry change · 12M

-0.06 pp

Passenger Airlines · contribution

-0.057 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

May 2022 · 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	$27.2bn	0.098%	+0.008 pp	-0.032 pp	-25.4%	Yes
Delta Air Lines → DAL	United States	$26.7bn	0.096%	+0.008 pp	-0.013 pp	-12.6%	Yes
United Airlines Holdings → UAL	United States	$15.6bn	0.056%	+0.006 pp	-0.012 pp	-18.4%	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.