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 Technology32.5%+4.21 pp Financials12.6%+0.68 pp Utilities2.9%+0.21 pp Communication Services2.8%+0.07 pp Consumer Staples7.3%-0.17 pp Real Estate2.5%-0.21 pp Energy2.8%-0.42 pp Materials2.4%-0.51 pp Consumer Discretionary11.4%-0.59 pp Industrials9.8%-0.82 pp Health Care12.9%-2.46 pp

2 · Industry

Inside Industrials

Industrial Machinery & Supplies & Components1.02%-0.25 pp Construction Machinery & Heavy Transportation Equipment0.67%-0.20 pp Heavy Electrical Equipment0.22%+0.20 pp Rail Transportation0.60%-0.18 pp Electrical Components & Equipment0.56%-0.17 pp Air Freight & Logistics0.37%-0.16 pp Diversified Support Services0.37%+0.12 pp Passenger Ground Transportation0.36%-0.08 pp Trading Companies & Distributors0.15%-0.05 pp Aerospace & Defense2.38%+0.03 pp Construction & Engineering0.12%-0.03 pp Human Resource & Employment Services0.43%+0.02 pp Research & Consulting Services0.17%-0.01 pp Agricultural & Farm Machinery0.30%-0.01 pp Passenger Airlines0.17%-0.01 pp Industrial Conglomerates0.61%-0.01 pp Environmental & Facilities Services0.52%-0.01 pp Cargo Ground Transportation0.12%-0.00 pp Data Processing & Outsourced Services0.07%+0.00 pp Building Products0.56%-0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.17%-0.009 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.17%

Industry change · 12M

-0.01 pp

Passenger Airlines · contribution

-0.009 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Mar 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
Delta Air Lines → DAL	United States	$28.2bn	0.067%	-0.022 pp	-0.019 pp	-7.9%	No
United Airlines Holdings → UAL	United States	$22.6bn	0.054%	-0.019 pp	+0.010 pp	+44.2%	No
Southwest Airlines → LUV	United States	$19.9bn	0.047%	+0.002 pp	-0.001 pp	+17.8%	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.