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 Technology33.1%+5.29 pp Financials12.3%+0.37 pp Communication Services2.8%+0.09 pp Utilities2.9%+0.07 pp Real Estate2.5%-0.09 pp Consumer Staples7.6%-0.20 pp Materials2.3%-0.53 pp Consumer Discretionary11.5%-0.54 pp Energy2.4%-0.88 pp Industrials9.9%-0.92 pp Health Care12.6%-2.65 pp

2 · Industry

Inside Industrials

Industrial Machinery & Supplies & Components1.01%-0.24 pp Air Freight & Logistics0.32%-0.20 pp Construction Machinery & Heavy Transportation Equipment0.64%-0.20 pp Rail Transportation0.56%-0.20 pp Electrical Components & Equipment0.58%-0.17 pp Diversified Support Services0.39%+0.14 pp Heavy Electrical Equipment0.26%+0.11 pp Aerospace & Defense2.45%-0.05 pp Industrial Conglomerates0.58%-0.04 pp Trading Companies & Distributors0.15%-0.03 pp Passenger Airlines0.16%-0.03 pp Agricultural & Farm Machinery0.30%-0.01 pp Construction & Engineering0.14%-0.01 pp Human Resource & Employment Services0.42%+0.01 pp Environmental & Facilities Services0.54%-0.01 pp Research & Consulting Services0.18%+0.01 pp Passenger Ground Transportation0.41%+0.01 pp Cargo Ground Transportation0.11%+0.00 pp Building Products0.59%-0.00 pp Data Processing & Outsourced Services0.07%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.16%-0.030 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.16%

Industry change · 12M

-0.03 pp

Passenger Airlines · contribution

-0.030 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Apr 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	$27.2bn	0.065%	-0.031 pp	-0.028 pp	-16.0%	No
Southwest Airlines → LUV	United States	$15.9bn	0.038%	-0.003 pp	-0.007 pp	+10.4%	No
United Airlines Holdings → UAL	United States	$22.5bn	0.054%	-0.023 pp	+0.005 pp	+33.7%	No

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.