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

Materials27.4%+25.10 pp Energy2.1%-0.32 pp Communication Services2.0%-0.81 pp Utilities2.0%-0.92 pp Real Estate1.6%-0.95 pp Industrials7.6%-2.27 pp Consumer Discretionary8.9%-2.59 pp Consumer Staples4.7%-2.85 pp Financials7.8%-4.44 pp Information Technology28.4%-4.69 pp Health Care7.4%-5.25 pp

2 · Industry

Inside Industrials

Aerospace & Defense1.77%-0.69 pp Industrial Machinery & Supplies & Components0.66%-0.35 pp Human Resource & Employment Services0.16%-0.26 pp Environmental & Facilities Services0.28%-0.26 pp Diversified Support Services0.16%-0.23 pp Industrial Conglomerates0.37%-0.21 pp Passenger Ground Transportation0.21%-0.20 pp Construction Machinery & Heavy Transportation Equipment0.83%+0.19 pp Building Products0.41%-0.18 pp Construction & Engineering0.31%+0.17 pp Heavy Electrical Equipment0.42%+0.16 pp Rail Transportation0.43%-0.13 pp Research & Consulting Services0.06%-0.12 pp Agricultural & Farm Machinery0.22%-0.09 pp Electrical Components & Equipment0.64%+0.06 pp Air Freight & Logistics0.27%-0.06 pp Data Processing & Outsourced Services0.02%-0.04 pp Passenger Airlines0.13%-0.03 pp Cargo Ground Transportation0.09%-0.02 pp Trading Companies & Distributors0.15%-0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.13%-0.032 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.13%

Industry change · 12M

-0.03 pp

Passenger Airlines · contribution

-0.032 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Apr 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
United Airlines Holdings → UAL	United States	$29.2bn	0.040%	-0.024 pp	-0.014 pp	+30.8%	No
Southwest Airlines → LUV	United States	$18.5bn	0.025%	-0.022 pp	-0.013 pp	+38.4%	No
Delta Air Lines → DAL	United States	$44.7bn	0.061%	-0.022 pp	-0.005 pp	+65.3%	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.