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 Discretionary11.2%+3.78 pp Energy3.9%+1.03 pp Health Care16.9%+0.53 pp Utilities3.4%+0.25 pp Industrials10.1%+0.16 pp Real Estate3.3%+0.09 pp Materials3.3%+0.07 pp Consumer Staples7.4%+0.03 pp Communication Services3.4%-0.27 pp Financials12.7%-1.04 pp Information Technology24.5%-4.63 pp

2 · Industry

Inside Industrials

Aerospace & Defense2.45%+0.26 pp Rail Transportation0.85%-0.16 pp Construction Machinery & Heavy Transportation Equipment0.72%+0.12 pp Industrial Conglomerates0.81%-0.09 pp Air Freight & Logistics0.69%-0.09 pp Agricultural & Farm Machinery0.43%+0.04 pp Diversified Support Services0.14%+0.04 pp Heavy Electrical Equipment0.03%-0.03 pp Human Resource & Employment Services0.46%+0.03 pp Building Products0.53%-0.03 pp Construction & Engineering0.12%+0.02 pp Trading Companies & Distributors0.15%+0.02 pp Industrial Machinery & Supplies & Components1.12%+0.02 pp Environmental & Facilities Services0.41%+0.01 pp Research & Consulting Services0.19%-0.01 pp Electrical Components & Equipment0.63%+0.01 pp Passenger Airlines0.21%-0.01 pp Cargo Ground Transportation0.13%+0.00 pp Data Processing & Outsourced Services0.06%-0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.21%-0.008 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.21%

Industry change · 12M

-0.01 pp

Passenger Airlines · contribution

-0.008 pp

Company participation

67%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jan 2023 · 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	$21.2bn	0.073%	-0.004 pp	-0.016 pp	-19.7%	No
United Airlines Holdings → UAL	United States	$16.0bn	0.055%	+0.005 pp	+0.008 pp	+14.2%	Yes
Delta Air Lines → DAL	United States	$25.1bn	0.086%	+0.009 pp	+0.000 pp	-1.5%	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.