Biotechnology
Biotechnology is losing market weight. Gained weight for 2 consecutive months.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 80% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Feb 2019 – Jan 2024 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| Moderna → MRNA | Biotechnology | United States | 0.115% | -0.117 pp | -42.6% | 0.0 |
| Gilead Sciences → GILD | Biotechnology | United States | 0.290% | -0.070 pp | -3.2% | 0.0 |
| Vertex Pharmaceuticals → VRTX | Biotechnology | United States | 0.332% | +0.048 pp | +34.1% | 0.0 |
| Amgen → AMGN | Biotechnology | United States | 0.500% | +0.039 pp | +28.8% | 0.0 |
| Biogen → BIIB | Biotechnology | United States | 0.106% | -0.037 pp | -15.2% | 0.0 |
| AbbVie → ABBV | Biotechnology | United States | 0.863% | -0.031 pp | +15.8% | 0.0 |
| Incyte → INCY | Biotechnology | United States | 0.039% | -0.026 pp | -31.0% | 0.0 |
| Regeneron Pharmaceuticals → REGN | Biotechnology | United States | 0.263% | +0.019 pp | +24.3% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Jan 2024 | 2.508% | +0.106 pp | +0.040 pp | +0.890 pp | -0.174 pp | -3.2% |
| Dec 2023 | 2.402% | +0.109 pp | -0.125 pp | +0.756 pp | -0.493 pp | -15.8% |
| Nov 2023 | 2.294% | -0.175 pp | -0.114 pp | +0.527 pp | -0.520 pp | -18.2% |
| Oct 2023 | 2.468% | -0.059 pp | +0.850 pp | -0.142 pp | -0.259 pp | -12.4% |
| Sep 2023 | 2.527% | +0.119 pp | +0.881 pp | -0.163 pp | -0.121 pp | -4.5% |
| Aug 2023 | 2.408% | +0.789 pp | +0.641 pp | -0.237 pp | +0.016 pp | +1.6% |
| Jul 2023 | 1.619% | -0.028 pp | -0.992 pp | -1.064 pp | -0.790 pp | -3.2% |
| Jun 2023 | 1.647% | -0.120 pp | -1.043 pp | -1.248 pp | -1.112 pp | -11.3% |
| May 2023 | 1.766% | -0.844 pp | -0.878 pp | -1.047 pp | -0.805 pp | +1.8% |
| Apr 2023 | 2.610% | -0.079 pp | -0.072 pp | -0.116 pp | +0.110 pp | +11.9% |
| Mar 2023 | 2.690% | +0.045 pp | -0.205 pp | +0.041 pp | +0.179 pp | +17.8% |
| Feb 2023 | 2.645% | -0.038 pp | -0.169 pp | +0.252 pp | +0.258 pp | +23.6% |
| Jan 2023 | 2.683% | -0.212 pp | -0.044 pp | +0.274 pp | +0.351 pp | +27.8% |
| Dec 2022 | 2.895% | +0.081 pp | +0.246 pp | +0.137 pp | +0.567 pp | +40.6% |
| Nov 2022 | 2.814% | +0.087 pp | +0.421 pp | +0.243 pp | +0.442 pp | +38.1% |
| Oct 2022 | 2.727% | +0.078 pp | +0.319 pp | +0.227 pp | +0.379 pp | +41.8% |
| Sep 2022 | 2.649% | +0.256 pp | -0.110 pp | +0.138 pp | +0.136 pp | +23.3% |
| Aug 2022 | 2.392% | -0.016 pp | -0.179 pp | +0.006 pp | -0.174 pp | +7.9% |
| Jul 2022 | 2.408% | -0.350 pp | -0.092 pp | +0.076 pp | -0.142 pp | +9.2% |
| Jun 2022 | 2.758% | +0.187 pp | +0.248 pp | +0.430 pp | +0.638 pp | +17.6% |
| May 2022 | 2.571% | +0.071 pp | +0.185 pp | +0.199 pp | +0.495 pp | +11.4% |
| Apr 2022 | 2.500% | -0.010 pp | +0.168 pp | +0.152 pp | +0.416 pp | +7.5% |
| Mar 2022 | 2.511% | +0.124 pp | +0.183 pp | -0.002 pp | +1.383 pp | +1.5% |
| Feb 2022 | 2.386% | +0.054 pp | +0.014 pp | -0.180 pp | +1.280 pp | -3.3% |
| Jan 2022 | 2.332% | +0.004 pp | -0.016 pp | -0.219 pp | +0.958 pp | -10.9% |
| Dec 2021 | 2.328% | -0.044 pp | -0.184 pp | +0.208 pp | +0.063 pp | -8.3% |
| Nov 2021 | 2.372% | +0.024 pp | -0.194 pp | +0.296 pp | +0.023 pp | -11.0% |
| Oct 2021 | 2.348% | -0.164 pp | -0.203 pp | +0.264 pp | -0.078 pp | -16.0% |
| Sep 2021 | 2.512% | -0.054 pp | +0.392 pp | +1.384 pp | +2.510 pp | -17.0% |
| Aug 2021 | 2.566% | +0.016 pp | +0.490 pp | +1.460 pp | +2.563 pp | -16.2% |
| Jul 2021 | 2.550% | +0.430 pp | +0.466 pp | +1.176 pp | +2.548 pp | -21.1% |
| Jun 2021 | 2.121% | +0.045 pp | +0.993 pp | -0.144 pp | +2.117 pp | -26.3% |
| May 2021 | 2.076% | -0.008 pp | +0.969 pp | -0.273 pp | +2.073 pp | -29.3% |
| Apr 2021 | 2.084% | +0.956 pp | +0.710 pp | -0.342 pp | -1.011 pp | -29.6% |
| Mar 2021 | 1.128% | +0.021 pp | -1.137 pp | +1.125 pp | +1.125 pp | -26.4% |
| Feb 2021 | 1.107% | -0.267 pp | -1.242 pp | +1.104 pp | +1.105 pp | -15.6% |
| Jan 2021 | 1.374% | -0.891 pp | -1.052 pp | +1.371 pp | -1.006 pp | +0.9% |
| Dec 2020 | 2.265% | -0.084 pp | +2.262 pp | +2.262 pp | -0.288 pp | -7.7% |
| Nov 2020 | 2.349% | -0.077 pp | +2.346 pp | +2.346 pp | -0.272 pp | -7.7% |
| Oct 2020 | 2.426% | +2.423 pp | +2.423 pp | -0.669 pp | -0.055 pp | +2.1% |
| Sep 2020 | 0.003% | -0.000 pp | -0.000 pp | +0.000 pp | -2.317 pp | +18.0% |
| Aug 2020 | 0.003% | +0.000 pp | -0.000 pp | +0.001 pp | -2.360 pp | +18.2% |
| Jul 2020 | 0.003% | -0.000 pp | -3.092 pp | -2.378 pp | -2.270 pp | +29.3% |
| Jun 2020 | 0.003% | -0.000 pp | +0.001 pp | -2.550 pp | -2.400 pp | +34.7% |
| May 2020 | 0.003% | -3.092 pp | +0.001 pp | -2.618 pp | -2.469 pp | +35.3% |
| Apr 2020 | 3.095% | +3.092 pp | +0.714 pp | +0.614 pp | +0.599 pp | +38.6% |
| Mar 2020 | 0.003% | +0.000 pp | -2.550 pp | -2.317 pp | -2.701 pp | +27.5% |
| Feb 2020 | 0.002% | -2.378 pp | -2.619 pp | -2.361 pp | -2.837 pp | +3.7% |
| Jan 2020 | 2.380% | -0.172 pp | -0.101 pp | +0.107 pp | +0.718 pp | -11.5% |
| Dec 2019 | 2.553% | -0.069 pp | +0.233 pp | +0.150 pp | +0.782 pp | -11.5% |
| Nov 2019 | 2.621% | +0.140 pp | +0.259 pp | +0.149 pp | +0.864 pp | -7.6% |
| Oct 2019 | 2.481% | +0.161 pp | +0.208 pp | -0.015 pp | +0.856 pp | -5.9% |
| Sep 2019 | 2.320% | -0.043 pp | -0.083 pp | -0.383 pp | +0.566 pp | -16.7% |
| Aug 2019 | 2.363% | +0.090 pp | -0.110 pp | -0.476 pp | +0.603 pp | -15.0% |
| Jul 2019 | 2.273% | -0.130 pp | -0.223 pp | +0.610 pp | -0.851 pp | -16.3% |
| Jun 2019 | 2.403% | -0.069 pp | -0.300 pp | +0.632 pp | -0.706 pp | -11.3% |
| May 2019 | 2.472% | -0.024 pp | -0.367 pp | +0.715 pp | -0.607 pp | -8.7% |
| Apr 2019 | 2.496% | -0.207 pp | +0.834 pp | +0.871 pp | -0.587 pp | -9.2% |
| Mar 2019 | 2.703% | -0.136 pp | +0.933 pp | +0.949 pp | -0.495 pp | -3.7% |
| Feb 2019 | 2.839% | +1.177 pp | +1.081 pp | +1.080 pp | -0.582 pp | -5.6% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.