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›Materials›Steel›Steel

1 · Sector

Weight and 12M allocation change

Information Technology29.0%+4.54 pp Consumer Discretionary12.1%+0.51 pp Industrials9.9%+0.06 pp Materials2.9%-0.07 pp Real Estate2.8%-0.34 pp Communication Services2.9%-0.37 pp Utilities2.9%-0.44 pp Energy3.6%-0.51 pp Consumer Staples7.1%-0.55 pp Financials11.0%-1.14 pp Health Care15.8%-1.70 pp

2 · Industry

Inside Materials

Industrial Gases0.84%+0.12 pp Fertilizers & Agricultural Chemicals0.21%-0.10 pp Paper & Plastic Packaging Products & Materials0.35%-0.08 pp Specialty Chemicals0.68%-0.08 pp Steel0.18%+0.06 pp Construction Materials0.17%+0.02 pp Gold0.10%-0.02 pp Copper0.16%+0.00 pp Metal, Glass & Plastic Containers0.05%-0.00 pp Commodity Chemicals0.12%-0.00 pp

3 · Sub-industry

Inside Steel

Steel0.18%+0.063 pp

Concentrated

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

View all contributions →

Steel · weight

0.18%

Industry change · 12M

+0.06 pp

Steel · contribution

+0.063 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Oct 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
Steel Dynamics → STLD	United States	$17.6bn	0.060%	+0.021 pp	+0.060 pp	+15.0%	Yes
Nucor → NUE	United States	$36.8bn	0.125%	+0.031 pp	+0.003 pp	+14.0%	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.