Pharmaceuticals
Pharmaceuticals is losing market weight. Lost weight for 3 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 91% 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
Apr 2018 – Mar 2023 · 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 |
|---|---|---|---|---|---|---|
| Merck & Co. → MRK | Pharmaceuticals | United States | 0.921% | +0.223 pp | +33.6% | 0.0 |
| Pfizer → PFE | Pharmaceuticals | United States | 0.782% | -0.198 pp | -18.5% | 0.0 |
| Lilly (Eli) → LLY | Pharmaceuticals | United States | 1.113% | +0.196 pp | +21.4% | 0.0 |
| Johnson & Johnson → JNJ | Pharmaceuticals | United States | 1.377% | -0.191 pp | -10.2% | 0.0 |
| Bristol Myers Squibb → BMY | Pharmaceuticals | United States | 0.496% | -0.039 pp | -2.9% | 0.0 |
| Zoetis → ZTS | Pharmaceuticals | United States | 0.263% | -0.036 pp | -11.0% | 0.0 |
| Viatris → VTRS | Pharmaceuticals | United States | 0.039% | -0.005 pp | -7.6% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Mar 2023 | 4.993% | -0.028 pp | -0.828 pp | -0.635 pp | -0.051 pp | +8.5% |
| Feb 2023 | 5.021% | -0.183 pp | -0.526 pp | -0.023 pp | +0.225 pp | +16.4% |
| Jan 2023 | 5.204% | -0.617 pp | -0.346 pp | -0.076 pp | +0.339 pp | +18.2% |
| Dec 2022 | 5.821% | +0.274 pp | +0.194 pp | -0.235 pp | +0.985 pp | +35.3% |
| Nov 2022 | 5.547% | -0.003 pp | +0.503 pp | -0.059 pp | +0.893 pp | +38.0% |
| Oct 2022 | 5.550% | -0.077 pp | +0.270 pp | +0.094 pp | +0.911 pp | +45.4% |
| Sep 2022 | 5.628% | +0.584 pp | -0.429 pp | +0.584 pp | +1.003 pp | +41.2% |
| Aug 2022 | 5.044% | -0.237 pp | -0.562 pp | +0.248 pp | +0.304 pp | +22.3% |
| Jul 2022 | 5.281% | -0.776 pp | -0.175 pp | +0.416 pp | +0.531 pp | +27.7% |
| Jun 2022 | 6.057% | +0.451 pp | +1.013 pp | +1.220 pp | +1.379 pp | +43.8% |
| May 2022 | 5.605% | +0.149 pp | +0.809 pp | +0.951 pp | +0.997 pp | +34.2% |
| Apr 2022 | 5.456% | +0.412 pp | +0.591 pp | +0.817 pp | +0.973 pp | +33.9% |
| Mar 2022 | 5.044% | +0.248 pp | +0.207 pp | +0.419 pp | +2.634 pp | +17.3% |
| Feb 2022 | 4.796% | -0.069 pp | +0.142 pp | +0.056 pp | +2.426 pp | +10.0% |
| Jan 2022 | 4.865% | +0.028 pp | +0.226 pp | +0.115 pp | +1.928 pp | +5.3% |
| Dec 2021 | 4.837% | +0.183 pp | +0.212 pp | +0.159 pp | -0.007 pp | +7.7% |
| Nov 2021 | 4.654% | +0.015 pp | -0.086 pp | +0.045 pp | -0.206 pp | +2.1% |
| Oct 2021 | 4.639% | +0.014 pp | -0.111 pp | +0.156 pp | -0.386 pp | -3.0% |
| Sep 2021 | 4.625% | -0.115 pp | -0.053 pp | +2.215 pp | +4.619 pp | -7.7% |
| Aug 2021 | 4.740% | -0.010 pp | +0.131 pp | +2.369 pp | +4.734 pp | -4.2% |
| Jul 2021 | 4.750% | +0.072 pp | +0.267 pp | +1.813 pp | +4.744 pp | -6.7% |
| Jun 2021 | 4.678% | +0.069 pp | +2.268 pp | -0.166 pp | +4.672 pp | -11.1% |
| May 2021 | 4.609% | +0.126 pp | +2.238 pp | -0.252 pp | +4.602 pp | -18.9% |
| 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% |
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.