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›Materials›Steel›Steel

1 · Sector

Weight and 12M allocation change

Information Technology37.8%+2.39 ppIndustrials9.6%+0.25 ppMaterials2.2%+0.06 ppUtilities2.6%-0.01 ppFinancials11.9%-0.11 ppEnergy2.3%-0.17 ppReal Estate2.1%-0.28 ppCommunication Services2.2%-0.31 ppHealth Care11.3%-0.33 ppConsumer Staples6.0%-0.70 ppConsumer Discretionary12.0%-0.78 pp

2 · Industry

Inside Materials

Construction Materials0.31%+0.16 ppGold0.21%+0.12 ppIndustrial Gases0.50%-0.10 ppSpecialty Chemicals0.44%-0.09 ppCommodity Chemicals0.03%-0.03 ppSteel0.12%+0.02 ppCopper0.14%+0.02 ppFertilizers & Agricultural Chemicals0.13%-0.01 ppMetal, Glass & Plastic Containers0.03%-0.01 ppPaper & Plastic Packaging Products & Materials0.33%-0.01 pp

3 · Sub-industry

Inside Steel

Steel0.12%+0.020 pp
Concentrated

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

View all contributions →
Steel · weight
0.12%
Industry change · 12M
+0.02 pp
Steel · contribution
+0.020 pp
Company participation
100%
of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Dec 2025 · sorted by absolute contribution to 12-month change

CompanyCountryMarket capUniverse weight3M contribution12M contribution12M price returnAbove 6M weight average
Nucor →
NUE
United States$37.3bn0.073%+0.011 pp+0.011 pp+42.0%Yes
Steel Dynamics →
STLD
United States$24.7bn0.048%+0.007 pp+0.009 pp+50.7%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.