Aerospace & Defense
Aerospace & Defense is losing market weight. Lost weight for 6 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 82% 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 – Oct 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 | 1.427% | -2.406 pp | -35.9% | 0.0 |
| Boeing → BA | Aerospace & Defense | United States | 0.683% | -0.521 pp | +1.6% | 0.0 |
| Lockheed Martin → LMT | Aerospace & Defense | United States | 0.283% | -0.297 pp | -15.7% | 0.0 |
| General Dynamics → GD | Aerospace & Defense | United States | 0.173% | -0.206 pp | -21.4% | 0.0 |
| Northrop Grumman → NOC | Aerospace & Defense | United States | 0.154% | -0.184 pp | -22.2% | 0.0 |
| RTX Corporation → RTX | Aerospace & Defense | United States | 0.212% | -0.183 pp | -8.5% | 0.0 |
| L3Harris → LHX | Aerospace & Defense | United States | 0.059% | -0.049 pp | -5.6% | 0.0 |
| Textron → TXT | Aerospace & Defense | United States | 0.044% | -0.044 pp | -8.5% | 0.0 |
| TransDigm Group → TDG | Aerospace & Defense | United States | 0.059% | -0.035 pp | +4.2% | 0.0 |
| Huntington Ingalls Industries → HII | Aerospace & Defense | United States | 0.032% | -0.029 pp | -7.2% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Oct 2018 | 3.128% | -0.177 pp | -3.357 pp | -3.693 pp | -3.954 pp | -16.0% |
| Sep 2018 | 3.304% | -0.143 pp | -3.249 pp | -3.458 pp | -3.777 pp | -12.9% |
| 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.