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 Discretionary11.3%+4.18 pp Energy3.7%+0.58 pp Industrials10.3%+0.07 pp Utilities3.2%+0.05 pp Materials3.2%+0.02 pp Real Estate3.2%+0.00 pp Health Care16.6%-0.02 pp Consumer Staples7.5%-0.07 pp Communication Services3.3%-0.59 pp Financials12.6%-0.72 pp Information Technology25.1%-3.51 pp

2 · Industry

Inside Health Care

Health Care Equipment3.04%-0.28 pp Biotechnology2.64%+0.26 pp Pharmaceuticals5.02%+0.22 pp Life Sciences Tools & Services1.94%-0.10 pp Health Care Services0.83%-0.08 pp Health Care Supplies0.18%-0.08 pp Health Care Distributors0.38%+0.04 pp Health Care Facilities0.24%-0.03 pp Managed Health Care2.30%+0.01 pp Health Care Technology0.00%+0.00 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology2.64%+0.258 pp

Broad

The gain is shared across much of the industry.

View all contributions →

Biotechnology · weight

2.64%

Industry change · 12M

+0.26 pp

Biotechnology · contribution

+0.258 pp

Company participation

25%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 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
Gilead Sciences → GILD	United States	$100.4bn	0.353%	-0.021 pp	+0.090 pp	+39.4%	No
Vertex Pharmaceuticals → VRTX	United States	$74.6bn	0.262%	-0.013 pp	+0.059 pp	+26.2%	No
AbbVie → ABBV	United States	$272.3bn	0.957%	-0.010 pp	+0.051 pp	+8.1%	Yes
Regeneron Pharmaceuticals → REGN	United States	$71.4bn	0.251%	+0.011 pp	+0.050 pp	+23.0%	Yes
Biogen → BIIB	United States	$39.0bn	0.137%	-0.012 pp	+0.029 pp	+27.9%	No
Moderna → MRNA	United States	$53.6bn	0.189%	-0.041 pp	-0.026 pp	-9.6%	No
Incyte → INCY	United States	$17.2bn	0.060%	+0.000 pp	+0.008 pp	+12.7%	No
Amgen → AMGN	United States	$123.7bn	0.435%	-0.084 pp	-0.003 pp	+5.5%	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.