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 Technology33.7%+4.42 pp Financials12.6%+1.00 pp Consumer Staples7.2%+0.57 pp Utilities2.7%+0.11 pp Communication Services2.7%-0.04 pp Real Estate2.5%-0.34 pp Energy2.6%-0.50 pp Materials2.3%-0.52 pp Consumer Discretionary11.8%-0.67 pp Industrials9.5%-0.95 pp Health Care12.4%-3.07 pp

2 · Industry

Inside Health Care

Pharmaceuticals4.16%-0.96 pp Life Sciences Tools & Services1.08%-0.59 pp Managed Health Care1.31%-0.57 pp Biotechnology2.04%-0.33 pp Health Care Equipment2.67%-0.31 pp Health Care Services0.49%-0.18 pp Health Care Facilities0.17%-0.07 pp Health Care Distributors0.38%-0.06 pp Health Care Supplies0.11%-0.04 pp Health Care Technology0.03%+0.03 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology2.04%-0.329 pp

Broad

The loss is shared across much of the industry.

View all contributions →

Biotechnology · weight

2.04%

Industry change · 12M

-0.33 pp

Biotechnology · contribution

-0.329 pp

Company participation

63%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 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
Regeneron Pharmaceuticals → REGN	United States	$65.7bn	0.147%	-0.009 pp	-0.113 pp	-27.6%	No
Moderna → MRNA	United States	$11.9bn	0.027%	-0.010 pp	-0.074 pp	-66.4%	No
AbbVie → ABBV	United States	$369.0bn	0.825%	+0.112 pp	-0.066 pp	+23.1%	Yes
Gilead Sciences → GILD	United States	$142.4bn	0.318%	+0.064 pp	+0.061 pp	+65.0%	Yes
Amgen → AMGN	United States	$165.5bn	0.370%	+0.035 pp	-0.050 pp	+15.9%	Yes
Biogen → BIIB	United States	$20.6bn	0.046%	-0.006 pp	-0.044 pp	-35.3%	No
Vertex Pharmaceuticals → VRTX	United States	$123.2bn	0.276%	+0.010 pp	-0.036 pp	+14.0%	Yes
Incyte → INCY	United States	$14.2bn	0.032%	+0.000 pp	-0.006 pp	+25.9%	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.