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›Information Technology›Communications Equipment›Communications Equipment

1 · Sector

Weight and 12M allocation change

Information Technology41.9%+7.32 pp Energy2.5%+0.19 pp Consumer Discretionary11.8%-0.20 pp Materials2.0%-0.21 pp Communication Services2.4%-0.32 pp Real Estate2.0%-0.41 pp Utilities2.4%-0.43 pp Industrials9.6%-0.50 pp Health Care9.7%-1.47 pp Consumer Staples5.7%-1.52 pp Financials9.8%-2.46 pp

2 · Industry

Inside Information Technology

Semiconductors18.69%+6.47 pp Technology Hardware, Storage & Peripherals9.29%+2.19 pp Systems Software6.70%-1.66 pp Application Software2.34%-1.01 pp Semiconductor Materials & Equipment1.51%+0.94 pp Communications Equipment1.58%+0.57 pp IT Consulting & Other Services0.76%-0.41 pp Electronic Components0.55%+0.33 pp Electronic Equipment & Instruments0.23%-0.06 pp Internet Services & Infrastructure0.10%-0.04 pp Electronic Manufacturing Services0.17%+0.03 pp Technology Distributors0.03%-0.03 pp

3 · Sub-industry

Inside Communications Equipment

Communications Equipment1.58%+0.575 pp

Concentrated

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

View all contributions →

Communications Equipment · weight

1.58%

Industry change · 12M

+0.57 pp

Communications Equipment · contribution

+0.575 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

May 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
Cisco → CSCO	United States	$474.6bn	0.823%	+0.392 pp	+0.257 pp	+95.4%	Yes
Ciena → CIEN	United States	$82.0bn	0.142%	+0.075 pp	+0.142 pp	+624.7%	Yes
Lumentum → LITE	United States	$66.5bn	0.115%	+0.115 pp	+0.115 pp	+1082.8%	Yes
Arista Networks → ANET	United States	$200.8bn	0.348%	+0.118 pp	+0.101 pp	+84.1%	Yes
Motorola Solutions → MSI	United States	$66.9bn	0.116%	+0.006 pp	-0.041 pp	-1.9%	Yes
F5, Inc. → FFIV	United States	$21.6bn	0.037%	+0.016 pp	+0.000 pp	+34.4%	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.