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

Information Technology29.3%+4.19 pp Consumer Discretionary12.5%+1.15 pp Industrials10.5%+0.21 pp Real Estate2.8%-0.41 pp Materials2.8%-0.42 pp Communication Services2.8%-0.51 pp Utilities2.6%-0.62 pp Energy3.1%-0.63 pp Consumer Staples6.6%-0.85 pp Financials11.6%-1.05 pp Health Care15.5%-1.06 pp

2 · Industry

Inside Health Care

Managed Health Care1.88%-0.42 pp Biotechnology2.37%-0.28 pp Life Sciences Tools & Services1.67%-0.27 pp Health Care Services0.67%-0.15 pp Pharmaceuticals5.11%+0.09 pp Health Care Equipment2.98%-0.05 pp Health Care Distributors0.44%+0.05 pp Health Care Supplies0.15%-0.03 pp Health Care Facilities0.24%-0.00 pp Health Care Technology0.00%+0.00 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology2.37%-0.275 pp

Concentrated

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

View all contributions →

Biotechnology · weight

2.37%

Industry change · 12M

-0.28 pp

Biotechnology · contribution

-0.275 pp

Company participation

38%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 2024 · 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	$89.8bn	0.257%	-0.040 pp	-0.096 pp	-7.0%	No
Moderna → MRNA	United States	$35.2bn	0.101%	+0.009 pp	-0.088 pp	-33.5%	No
AbbVie → ABBV	United States	$311.0bn	0.891%	+0.107 pp	-0.066 pp	+19.0%	Yes
Vertex Pharmaceuticals → VRTX	United States	$108.7bn	0.311%	+0.026 pp	+0.049 pp	+44.9%	Yes
Biogen → BIIB	United States	$31.5bn	0.090%	-0.015 pp	-0.047 pp	-19.6%	No
Incyte → INCY	United States	$13.1bn	0.038%	-0.000 pp	-0.023 pp	-24.2%	No
Amgen → AMGN	United States	$146.8bn	0.420%	-0.029 pp	-0.014 pp	+22.2%	No
Regeneron Pharmaceuticals → REGN	United States	$90.8bn	0.260%	+0.019 pp	+0.009 pp	+27.0%	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.