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

Materials29.6%+26.14 pp Consumer Discretionary8.5%+1.82 pp Real Estate2.1%-1.21 pp Utilities2.3%-1.33 pp Energy2.3%-1.64 pp Communication Services2.1%-1.72 pp Consumer Staples5.3%-2.38 pp Industrials6.9%-3.12 pp Financials7.8%-5.05 pp Health Care11.8%-5.74 pp Information Technology21.2%-5.77 pp

2 · Industry

Inside Industrials

Aerospace & Defense1.75%-0.56 pp Rail Transportation0.56%-0.39 pp Industrial Conglomerates0.51%-0.37 pp Industrial Machinery & Supplies & Components0.77%-0.28 pp Air Freight & Logistics0.47%-0.28 pp Construction Machinery & Heavy Transportation Equipment0.46%-0.19 pp Human Resource & Employment Services0.31%-0.19 pp Agricultural & Farm Machinery0.25%-0.14 pp Electrical Components & Equipment0.44%-0.13 pp Building Products0.34%-0.13 pp Environmental & Facilities Services0.32%-0.13 pp Passenger Airlines0.14%-0.11 pp Research & Consulting Services0.14%-0.05 pp Heavy Electrical Equipment0.02%-0.04 pp Trading Companies & Distributors0.09%-0.04 pp Cargo Ground Transportation0.08%-0.03 pp Construction & Engineering0.09%-0.02 pp Data Processing & Outsourced Services0.04%-0.02 pp Diversified Support Services0.11%-0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.14%-0.110 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.14%

Industry change · 12M

-0.11 pp

Passenger Airlines · contribution

-0.110 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

May 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	$17.8bn	0.044%	-0.026 pp	-0.054 pp	-34.2%	No
Delta Air Lines → DAL	United States	$23.3bn	0.058%	-0.029 pp	-0.039 pp	-12.9%	No
United Airlines Holdings → UAL	United States	$15.6bn	0.038%	-0.021 pp	-0.018 pp	-0.3%	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.