Pharmaceuticals
Pharmaceuticals 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 74% 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
Jan 2018 – Apr 2021 · 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 |
|---|---|---|---|---|---|---|
| Johnson & Johnson → JNJ | Pharmaceuticals | United States | 1.553% | -0.659 pp | +11.4% | 0.0 |
| Merck & Co. → MRK | Pharmaceuticals | United States | 0.652% | -0.423 pp | -3.1% | 0.0 |
| Pfizer → PFE | Pharmaceuticals | United States | 0.781% | -0.349 pp | +10.6% | 0.0 |
| Bristol Myers Squibb → BMY | Pharmaceuticals | United States | 0.505% | -0.263 pp | +5.9% | 0.0 |
| Lilly (Eli) → LLY | Pharmaceuticals | United States | 0.635% | -0.192 pp | +20.4% | 0.0 |
| Viatris → VTRS | Pharmaceuticals | United States | 0.058% | +0.058 pp | -20.7% | 0.0 |
| Zoetis → ZTS | Pharmaceuticals | United States | 0.298% | -0.046 pp | +34.6% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Apr 2021 | 4.483% | +2.073 pp | +1.546 pp | -0.542 pp | -1.874 pp | -24.6% |
| Mar 2021 | 2.410% | +0.039 pp | -2.434 pp | +2.404 pp | +2.405 pp | -20.4% |
| Feb 2021 | 2.371% | -0.566 pp | -2.490 pp | +2.365 pp | +2.366 pp | -9.1% |
| Jan 2021 | 2.937% | -1.907 pp | -2.089 pp | +2.931 pp | -2.468 pp | -5.6% |
| Dec 2020 | 4.844% | -0.017 pp | +4.838 pp | +4.838 pp | -0.575 pp | -7.5% |
| Nov 2020 | 4.860% | -0.165 pp | +4.855 pp | +4.854 pp | -0.373 pp | -4.9% |
| Oct 2020 | 5.025% | +5.020 pp | +5.020 pp | -1.331 pp | -0.315 pp | -2.2% |
| Sep 2020 | 0.006% | -0.000 pp | -0.000 pp | +0.001 pp | -5.232 pp | +4.2% |
| Aug 2020 | 0.006% | +0.000 pp | -0.001 pp | +0.002 pp | -5.349 pp | +1.3% |
| Jul 2020 | 0.005% | -0.000 pp | -6.351 pp | -5.399 pp | -5.241 pp | +6.6% |
| Jun 2020 | 0.006% | -0.000 pp | +0.001 pp | -5.412 pp | -5.603 pp | +2.2% |
| May 2020 | 0.006% | -6.350 pp | +0.002 pp | -5.227 pp | -5.800 pp | +7.9% |
| Apr 2020 | 6.357% | +6.351 pp | +0.952 pp | +1.016 pp | +0.619 pp | +18.0% |
| Mar 2020 | 0.005% | +0.001 pp | -5.413 pp | -5.233 pp | -6.092 pp | +8.9% |
| Feb 2020 | 0.004% | -5.400 pp | -5.229 pp | -5.351 pp | -6.097 pp | -5.1% |
| Jan 2020 | 5.404% | -0.014 pp | +0.064 pp | +0.158 pp | +2.029 pp | -1.5% |
| Dec 2019 | 5.418% | +0.185 pp | +0.181 pp | -0.190 pp | +1.759 pp | -9.5% |
| Nov 2019 | 5.233% | -0.107 pp | -0.122 pp | -0.573 pp | +1.570 pp | -11.9% |
| Oct 2019 | 5.340% | +0.103 pp | +0.094 pp | -0.397 pp | +1.801 pp | -6.8% |
| Sep 2019 | 5.238% | -0.117 pp | -0.371 pp | -0.859 pp | +1.871 pp | -1.8% |
| Aug 2019 | 5.355% | +0.109 pp | -0.451 pp | -0.747 pp | +2.055 pp | +2.9% |
| Jul 2019 | 5.246% | -0.362 pp | -0.491 pp | +1.871 pp | -0.528 pp | +3.2% |
| Jun 2019 | 5.608% | -0.198 pp | -0.488 pp | +1.949 pp | +0.106 pp | +15.3% |
| May 2019 | 5.806% | +0.069 pp | -0.296 pp | +2.143 pp | +0.395 pp | +20.4% |
| Apr 2019 | 5.737% | -0.360 pp | +2.362 pp | +2.198 pp | +0.137 pp | +13.3% |
| Mar 2019 | 6.097% | -0.005 pp | +2.437 pp | +2.731 pp | +0.496 pp | +20.2% |
| Feb 2019 | 6.102% | +2.727 pp | +2.439 pp | +2.802 pp | +0.560 pp | +21.4% |
| Jan 2019 | 3.375% | -0.284 pp | -0.164 pp | -2.399 pp | -2.125 pp | +20.2% |
| Dec 2018 | 3.660% | -0.003 pp | +0.293 pp | -1.843 pp | -1.841 pp | +29.5% |
| Nov 2018 | 3.663% | +0.123 pp | +0.363 pp | -1.749 pp | -1.837 pp | +29.3% |
| Oct 2018 | 3.539% | +0.173 pp | -2.235 pp | -2.061 pp | -1.961 pp | +22.7% |
| Sep 2018 | 3.366% | +0.067 pp | -2.136 pp | -2.235 pp | -2.134 pp | +14.8% |
| Aug 2018 | 3.300% | -2.475 pp | -2.112 pp | -2.242 pp | -2.201 pp | +11.7% |
| Jul 2018 | 5.774% | +0.272 pp | +0.174 pp | +0.274 pp | +0.274 pp | +8.2% |
| Jun 2018 | 5.502% | +0.091 pp | -0.099 pp | +0.002 pp | +0.002 pp | +2.0% |
| May 2018 | 5.411% | -0.189 pp | -0.130 pp | -0.089 pp | -0.089 pp | -0.5% |
| Apr 2018 | 5.600% | -0.001 pp | +0.100 pp | +0.100 pp | +0.100 pp | +1.2% |
| Mar 2018 | 5.601% | +0.060 pp | +0.101 pp | +0.101 pp | +0.101 pp | +1.6% |
| Feb 2018 | 5.542% | +0.042 pp | +0.042 pp | +0.042 pp | +0.042 pp | +1.2% |
| Jan 2018 | 5.500% | +0.000 pp | +0.000 pp | +0.000 pp | +0.000 pp | +0.0% |
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.