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

Information Technology28.3%+1.04 pp Financials11.9%+0.79 pp Consumer Discretionary12.0%+0.65 pp Industrials10.6%+0.56 pp Consumer Staples7.5%-0.03 pp Materials2.9%-0.23 pp Energy3.3%-0.30 pp Real Estate2.7%-0.32 pp Communication Services2.8%-0.43 pp Utilities2.7%-0.60 pp Health Care15.4%-1.13 pp

2 · Industry

Inside Industrials

Passenger Ground Transportation0.44%+0.44 pp Air Freight & Logistics0.53%-0.20 pp Construction Machinery & Heavy Transportation Equipment0.87%+0.16 pp Industrial Machinery & Supplies & Components1.28%+0.14 pp Industrial Conglomerates0.61%-0.12 pp Aerospace & Defense2.36%-0.12 pp Diversified Support Services0.25%+0.11 pp Electrical Components & Equipment0.74%+0.10 pp Agricultural & Farm Machinery0.32%-0.10 pp Environmental & Facilities Services0.53%+0.09 pp Building Products0.56%+0.05 pp Trading Companies & Distributors0.20%+0.05 pp Human Resource & Employment Services0.41%-0.05 pp Construction & Engineering0.15%+0.03 pp Rail Transportation0.78%-0.02 pp Passenger Airlines0.18%-0.01 pp Data Processing & Outsourced Services0.07%+0.01 pp Cargo Ground Transportation0.12%-0.00 pp Heavy Electrical Equipment0.02%-0.00 pp Research & Consulting Services0.19%-0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.18%-0.014 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.18%

Industry change · 12M

-0.01 pp

Passenger Airlines · contribution

-0.014 pp

Company participation

67%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Mar 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
Southwest Airlines → LUV	United States	$17.4bn	0.048%	-0.003 pp	-0.018 pp	-8.3%	No
Delta Air Lines → DAL	United States	$30.8bn	0.085%	+0.008 pp	+0.009 pp	+38.1%	Yes
United Airlines Holdings → UAL	United States	$15.7bn	0.044%	+0.003 pp	-0.006 pp	+8.2%	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.