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 Technology34.6%+6.31 pp Utilities2.9%+0.04 pp Consumer Staples7.1%+0.00 pp Real Estate2.6%-0.16 pp Industrials9.7%-0.18 pp Financials11.0%-0.18 pp Materials2.6%-0.35 pp Communication Services2.5%-0.43 pp Consumer Discretionary11.3%-1.04 pp Energy2.5%-1.29 pp Health Care13.5%-2.72 pp

2 · Industry

Inside Health Care

Pharmaceuticals4.40%-0.86 pp Managed Health Care1.72%-0.51 pp Biotechnology2.12%-0.40 pp Health Care Equipment2.53%-0.38 pp Life Sciences Tools & Services1.39%-0.31 pp Health Care Services0.53%-0.19 pp Health Care Distributors0.34%-0.09 pp Health Care Supplies0.15%-0.04 pp Health Care Technology0.03%+0.03 pp Health Care Facilities0.24%+0.02 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology2.12%-0.405 pp

Broad

The loss is shared across much of the industry.

View all contributions →

Biotechnology · weight

2.12%

Industry change · 12M

-0.40 pp

Biotechnology · contribution

-0.405 pp

Company participation

75%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Sep 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
Amgen → AMGN	United States	$173.1bn	0.403%	+0.089 pp	-0.077 pp	+23.5%	Yes
Moderna → MRNA	United States	$25.7bn	0.060%	-0.026 pp	-0.071 pp	-35.3%	No
Gilead Sciences → GILD	United States	$104.4bn	0.243%	+0.083 pp	-0.069 pp	+16.5%	Yes
AbbVie → ABBV	United States	$348.8bn	0.812%	+0.244 pp	-0.067 pp	+37.6%	Yes
Biogen → BIIB	United States	$28.2bn	0.066%	+0.002 pp	-0.059 pp	-24.6%	No
Regeneron Pharmaceuticals → REGN	United States	$98.8bn	0.230%	+0.045 pp	-0.028 pp	+27.7%	Yes
Vertex Pharmaceuticals → VRTX	United States	$120.0bn	0.279%	+0.053 pp	-0.020 pp	+33.7%	Yes
Incyte → INCY	United States	$12.7bn	0.030%	+0.004 pp	-0.014 pp	+14.4%	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.