Aerospace & Defense
Aerospace & Defense is losing market weight. Lost weight for 4 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 81% 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 – Aug 2018 · 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 |
|---|---|---|---|---|---|---|
| GE Aerospace → GE | Aerospace & Defense | United States | 1.740% | -2.093 pp | -18.6% | 0.0 |
| Boeing → BA | Aerospace & Defense | United States | 0.636% | -0.568 pp | -1.8% | 0.0 |
| Lockheed Martin → LMT | Aerospace & Defense | United States | 0.295% | -0.286 pp | -8.1% | 0.0 |
| General Dynamics → GD | Aerospace & Defense | United States | 0.185% | -0.194 pp | -12.3% | 0.0 |
| RTX Corporation → RTX | Aerospace & Defense | United States | 0.214% | -0.182 pp | -3.0% | 0.0 |
| Northrop Grumman → NOC | Aerospace & Defense | United States | 0.168% | -0.170 pp | -11.4% | 0.0 |
| L3Harris → LHX | Aerospace & Defense | United States | 0.062% | -0.046 pp | +2.7% | 0.0 |
| TransDigm Group → TDG | Aerospace & Defense | United States | 0.059% | -0.034 pp | +10.4% | 0.0 |
| Textron → TXT | Aerospace & Defense | United States | 0.055% | -0.033 pp | +17.7% | 0.0 |
| Huntington Ingalls Industries → HII | Aerospace & Defense | United States | 0.034% | -0.027 pp | +3.8% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Aug 2018 | 3.447% | -3.037 pp | -3.367 pp | -3.485 pp | -3.634 pp | -10.1% |
| Jul 2018 | 6.485% | -0.068 pp | -0.336 pp | -0.597 pp | -0.597 pp | -6.0% |
| Jun 2018 | 6.553% | -0.262 pp | -0.210 pp | -0.528 pp | -0.528 pp | -6.2% |
| May 2018 | 6.815% | -0.006 pp | -0.117 pp | -0.267 pp | -0.267 pp | -3.5% |
| Apr 2018 | 6.821% | +0.058 pp | -0.260 pp | -0.260 pp | -0.260 pp | -4.3% |
| Mar 2018 | 6.762% | -0.170 pp | -0.319 pp | -0.319 pp | -0.319 pp | -4.8% |
| Feb 2018 | 6.932% | -0.149 pp | -0.149 pp | -0.149 pp | -0.149 pp | -1.7% |
| Jan 2018 | 7.081% | +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.