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 Technology33.6%+3.90 pp Consumer Discretionary13.1%+1.27 pp Financials12.6%+0.85 pp Consumer Staples6.8%+0.07 pp Utilities2.6%-0.07 pp Communication Services2.5%-0.41 pp Real Estate2.3%-0.46 pp Materials2.3%-0.48 pp Industrials9.6%-0.62 pp Energy2.5%-0.66 pp Health Care12.2%-3.40 pp

2 · Industry

Inside Health Care

Pharmaceuticals3.88%-1.03 pp Biotechnology1.85%-0.66 pp Managed Health Care1.46%-0.55 pp Life Sciences Tools & Services1.21%-0.43 pp Health Care Equipment2.62%-0.39 pp Health Care Services0.46%-0.22 pp Health Care Distributors0.37%-0.08 pp Health Care Facilities0.19%-0.06 pp Health Care Technology0.03%+0.03 pp Health Care Supplies0.13%-0.02 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology1.85%-0.658 pp

Broad

The loss is shared across much of the industry.

View all contributions →

Biotechnology · weight

1.85%

Industry change · 12M

-0.66 pp

Biotechnology · contribution

-0.658 pp

Company participation

25%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jan 2025 · 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	$153.4bn	0.341%	-0.063 pp	-0.159 pp	-6.4%	No
AbbVie → ABBV	United States	$325.0bn	0.723%	-0.124 pp	-0.140 pp	+15.9%	No
Regeneron Pharmaceuticals → REGN	United States	$63.2bn	0.141%	-0.044 pp	-0.123 pp	-28.6%	No
Moderna → MRNA	United States	$15.2bn	0.034%	-0.015 pp	-0.081 pp	-61.0%	No
Vertex Pharmaceuticals → VRTX	United States	$118.9bn	0.264%	-0.024 pp	-0.068 pp	+6.5%	No
Biogen → BIIB	United States	$21.0bn	0.047%	-0.013 pp	-0.060 pp	-41.6%	No
Gilead Sciences → GILD	United States	$121.1bn	0.269%	+0.009 pp	-0.021 pp	+29.3%	Yes
Incyte → INCY	United States	$14.3bn	0.032%	-0.002 pp	-0.007 pp	+26.2%	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.