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

Materials30.1%+27.83 pp Energy2.0%-0.58 pp Communication Services2.1%-0.59 pp Utilities2.1%-0.66 pp Real Estate1.6%-0.88 pp Industrials7.7%-1.89 pp Consumer Staples4.9%-2.28 pp Consumer Discretionary8.4%-3.45 pp Health Care8.2%-4.24 pp Financials7.7%-4.88 pp Information Technology25.3%-8.39 pp

2 · Industry

Inside Health Care

Health Care Equipment1.52%-1.15 pp Pharmaceuticals3.09%-1.07 pp Managed Health Care0.52%-0.79 pp Biotechnology1.47%-0.57 pp Life Sciences Tools & Services0.66%-0.42 pp Health Care Services0.32%-0.17 pp Health Care Supplies0.07%-0.04 pp Health Care Distributors0.35%-0.03 pp Health Care Technology0.02%-0.01 pp Health Care Facilities0.16%-0.01 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology1.47%-0.567 pp

Concentrated

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

View all contributions →

Biotechnology · weight

1.47%

Industry change · 12M

-0.57 pp

Biotechnology · contribution

-0.567 pp

Company participation

13%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 2026 · 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
AbbVie → ABBV	United States	$410.4bn	0.563%	-0.227 pp	-0.262 pp	+14.8%	No
Vertex Pharmaceuticals → VRTX	United States	$126.2bn	0.173%	-0.043 pp	-0.102 pp	+3.6%	No
Amgen → AMGN	United States	$209.2bn	0.287%	-0.078 pp	-0.083 pp	+30.0%	No
Gilead Sciences → GILD	United States	$184.9bn	0.254%	-0.053 pp	-0.065 pp	+33.9%	No
Regeneron Pharmaceuticals → REGN	United States	$73.4bn	0.101%	-0.043 pp	-0.046 pp	+12.5%	No
Biogen → BIIB	United States	$28.2bn	0.039%	-0.014 pp	-0.007 pp	+36.5%	No
Incyte → INCY	United States	$20.2bn	0.028%	-0.013 pp	-0.004 pp	+37.8%	No
Moderna → MRNA	United States	$21.2bn	0.029%	+0.009 pp	+0.002 pp	+73.0%	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.