Telecom Tower REITs
Telecom Tower REITs is losing market weight. No persistent monthly direction.
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 100% 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 – Sep 2020 · 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 |
|---|---|---|---|---|---|---|
| American Tower → AMT | Telecom Tower REITs | United States | 0.001% | -0.519 pp | +11.3% | 0.0 |
| Crown Castle → CCI | Telecom Tower REITs | United States | 0.000% | -0.307 pp | +23.6% | 0.0 |
| SBA Communications → SBAC | Telecom Tower REITs | United States | 0.000% | -0.145 pp | +32.9% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Sep 2020 | 0.001% | -0.000 pp | -0.000 pp | +0.000 pp | -0.971 pp | +7.0% |
| Aug 2020 | 0.001% | -0.000 pp | -0.000 pp | +0.000 pp | -1.043 pp | -2.9% |
| Jul 2020 | 0.001% | -0.000 pp | -1.143 pp | -0.951 pp | -0.940 pp | +19.0% |
| Jun 2020 | 0.001% | -0.000 pp | +0.000 pp | -0.921 pp | -0.915 pp | +27.9% |
| May 2020 | 0.001% | -1.143 pp | +0.000 pp | -0.890 pp | -0.994 pp | +25.2% |
| Apr 2020 | 1.144% | +1.143 pp | +0.192 pp | +0.198 pp | +0.245 pp | +36.6% |
| Mar 2020 | 0.001% | +0.000 pp | -0.922 pp | -0.971 pp | -0.933 pp | +31.7% |
| Feb 2020 | 0.001% | -0.952 pp | -0.891 pp | -1.043 pp | -0.854 pp | +25.9% |
| Jan 2020 | 0.952% | +0.030 pp | +0.006 pp | +0.011 pp | +0.473 pp | +17.1% |
| Dec 2019 | 0.923% | +0.031 pp | -0.049 pp | +0.006 pp | +0.447 pp | +13.7% |
| Nov 2019 | 0.892% | -0.054 pp | -0.152 pp | -0.103 pp | +0.428 pp | +13.9% |
| Oct 2019 | 0.946% | -0.026 pp | +0.005 pp | +0.047 pp | +0.497 pp | +24.1% |
| Sep 2019 | 0.972% | -0.072 pp | +0.055 pp | +0.038 pp | +0.562 pp | +42.9% |
| Aug 2019 | 1.044% | +0.103 pp | +0.049 pp | +0.190 pp | +0.621 pp | +50.0% |
| Jul 2019 | 0.941% | +0.025 pp | +0.042 pp | +0.462 pp | +0.186 pp | +35.6% |
| Jun 2019 | 0.917% | -0.078 pp | -0.018 pp | +0.441 pp | +0.144 pp | +28.9% |
| May 2019 | 0.995% | +0.096 pp | +0.141 pp | +0.532 pp | +0.251 pp | +44.5% |
| Apr 2019 | 0.899% | -0.035 pp | +0.420 pp | +0.450 pp | +0.163 pp | +30.0% |
| Mar 2019 | 0.934% | +0.080 pp | +0.458 pp | +0.524 pp | +0.145 pp | +25.8% |
| Feb 2019 | 0.854% | +0.375 pp | +0.391 pp | +0.432 pp | +0.107 pp | +21.4% |
| Jan 2019 | 0.479% | +0.004 pp | +0.031 pp | -0.276 pp | -0.260 pp | +21.9% |
| Dec 2018 | 0.476% | +0.012 pp | +0.066 pp | -0.297 pp | -0.264 pp | +20.5% |
| Nov 2018 | 0.463% | +0.015 pp | +0.041 pp | -0.280 pp | -0.276 pp | +16.5% |
| Oct 2018 | 0.449% | +0.039 pp | -0.307 pp | -0.288 pp | -0.291 pp | +12.1% |
| Sep 2018 | 0.410% | -0.012 pp | -0.363 pp | -0.379 pp | -0.330 pp | +0.8% |
| Aug 2018 | 0.422% | -0.333 pp | -0.321 pp | -0.325 pp | -0.317 pp | +2.5% |
| Jul 2018 | 0.756% | -0.017 pp | +0.019 pp | +0.016 pp | +0.016 pp | +2.2% |
| Jun 2018 | 0.773% | +0.030 pp | -0.016 pp | +0.033 pp | +0.033 pp | +3.5% |
| May 2018 | 0.743% | +0.007 pp | -0.004 pp | +0.004 pp | +0.004 pp | -1.7% |
| Apr 2018 | 0.736% | -0.053 pp | -0.003 pp | -0.003 pp | -0.003 pp | -2.8% |
| Mar 2018 | 0.789% | +0.042 pp | +0.049 pp | +0.049 pp | +0.049 pp | +4.4% |
| Feb 2018 | 0.747% | +0.008 pp | +0.008 pp | +0.008 pp | +0.008 pp | -0.7% |
| Jan 2018 | 0.740% | +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.