Application Software
Application Software is losing market weight. Gained 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
Dec 2019 – Nov 2024 · 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 |
|---|---|---|---|---|---|---|
| Adobe Inc. → ADBE | Application Software | United States | 0.501% | -0.366 pp | -15.6% | 0.0 |
| Oracle Corporation → ORCL | Application Software | United States | 1.130% | +0.138 pp | +61.0% | 0.0 |
| Intuit → INTU | Application Software | United States | 0.397% | -0.102 pp | +13.0% | 0.0 |
| Synopsys → SNPS | Application Software | United States | 0.189% | -0.068 pp | +2.8% | 0.0 |
| Salesforce → CRM | Application Software | United States | 0.696% | -0.064 pp | +31.6% | 0.0 |
| Cadence Design Systems → CDNS | Application Software | United States | 0.186% | -0.046 pp | +12.3% | 0.0 |
| Fair Isaac → FICO | Application Software | United States | 0.128% | +0.044 pp | +118.4% | 0.0 |
| Autodesk → ADSK | Application Software | United States | 0.138% | -0.007 pp | +33.6% | 0.0 |
| Tyler Technologies → TYL | Application Software | United States | 0.059% | +0.006 pp | +53.9% | 0.0 |
| PTC Inc. → PTC | Application Software | United States | 0.053% | -0.005 pp | +27.1% | 0.0 |
| Trimble Inc. → TRMB | Application Software | United States | 0.040% | +0.004 pp | +57.3% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Nov 2024 | 3.517% | +0.103 pp | +0.197 pp | +1.216 pp | -0.469 pp | -0.6% |
| Oct 2024 | 3.414% | +0.023 pp | +0.957 pp | -0.180 pp | -0.338 pp | +0.4% |
| Sep 2024 | 3.391% | +0.070 pp | +0.785 pp | -0.382 pp | -0.311 pp | +0.7% |
| Aug 2024 | 3.320% | +0.863 pp | +1.020 pp | -0.569 pp | -0.510 pp | -6.6% |
| Jul 2024 | 2.457% | -0.149 pp | -1.137 pp | -1.499 pp | -0.105 pp | +0.4% |
| Jun 2024 | 2.606% | +0.305 pp | -1.167 pp | -1.199 pp | +0.012 pp | +4.6% |
| May 2024 | 2.301% | -1.294 pp | -1.588 pp | -1.685 pp | -0.311 pp | -7.0% |
| Apr 2024 | 3.594% | -0.179 pp | -0.362 pp | -0.158 pp | +0.325 pp | +10.7% |
| Mar 2024 | 3.773% | -0.116 pp | -0.032 pp | +0.071 pp | +0.450 pp | +14.6% |
| Feb 2024 | 3.889% | -0.067 pp | -0.096 pp | +0.059 pp | +0.888 pp | +27.7% |
| Jan 2024 | 3.957% | +0.151 pp | +0.204 pp | +1.394 pp | +0.915 pp | +30.1% |
| Dec 2023 | 3.805% | -0.180 pp | +0.103 pp | +1.211 pp | +0.948 pp | +30.9% |
| Nov 2023 | 3.986% | +0.234 pp | +0.156 pp | +1.374 pp | +1.116 pp | +35.0% |
| Oct 2023 | 3.752% | +0.050 pp | +1.190 pp | +0.483 pp | +0.855 pp | +21.3% |
| Sep 2023 | 3.702% | -0.128 pp | +1.108 pp | +0.379 pp | +0.882 pp | +27.1% |
| Aug 2023 | 3.830% | +1.268 pp | +1.218 pp | +0.828 pp | +0.828 pp | +24.6% |
| Jul 2023 | 2.562% | -0.032 pp | -0.707 pp | -0.480 pp | -0.578 pp | +13.5% |
| Jun 2023 | 2.594% | -0.017 pp | -0.729 pp | -0.263 pp | -0.503 pp | +20.3% |
| May 2023 | 2.612% | -0.657 pp | -0.390 pp | -0.258 pp | -0.435 pp | +22.4% |
| Apr 2023 | 3.269% | -0.054 pp | +0.227 pp | +0.372 pp | +0.201 pp | +10.1% |
| Mar 2023 | 3.323% | +0.321 pp | +0.466 pp | +0.503 pp | +0.043 pp | +6.6% |
| Feb 2023 | 3.002% | -0.040 pp | +0.132 pp | -0.001 pp | -0.300 pp | -1.2% |
| Jan 2023 | 3.042% | +0.184 pp | +0.145 pp | -0.098 pp | -0.493 pp | -7.2% |
| Dec 2022 | 2.857% | -0.012 pp | +0.038 pp | -0.240 pp | -0.870 pp | -16.0% |
| Nov 2022 | 2.870% | -0.027 pp | -0.133 pp | -0.177 pp | -1.332 pp | -22.7% |
| Oct 2022 | 2.897% | +0.077 pp | -0.243 pp | -0.172 pp | -1.326 pp | -19.0% |
| Sep 2022 | 2.820% | -0.183 pp | -0.277 pp | -0.460 pp | -1.144 pp | -19.6% |
| Aug 2022 | 3.003% | -0.137 pp | -0.044 pp | -0.299 pp | -1.019 pp | -16.1% |
| Jul 2022 | 3.140% | +0.043 pp | +0.071 pp | -0.395 pp | -0.704 pp | -9.3% |
| Jun 2022 | 3.097% | +0.051 pp | -0.183 pp | -0.630 pp | -0.632 pp | -11.0% |
| May 2022 | 3.047% | -0.022 pp | -0.255 pp | -1.155 pp | -0.522 pp | -8.5% |
| Apr 2022 | 3.069% | -0.211 pp | -0.467 pp | -1.154 pp | -0.476 pp | -7.5% |
| Mar 2022 | 3.280% | -0.021 pp | -0.447 pp | -0.684 pp | +1.514 pp | -0.2% |
| Feb 2022 | 3.301% | -0.234 pp | -0.900 pp | -0.720 pp | +1.523 pp | -1.5% |
| Jan 2022 | 3.535% | -0.192 pp | -0.688 pp | -0.309 pp | +1.454 pp | +5.1% |
| Dec 2021 | 3.727% | -0.475 pp | -0.237 pp | -0.003 pp | +0.099 pp | +5.7% |
| Nov 2021 | 4.202% | -0.021 pp | +0.180 pp | +0.633 pp | +0.528 pp | +16.1% |
| Oct 2021 | 4.223% | +0.258 pp | +0.379 pp | +0.678 pp | +0.402 pp | +11.1% |
| Sep 2021 | 3.964% | -0.057 pp | +0.235 pp | +2.198 pp | +3.960 pp | +0.9% |
| Aug 2021 | 4.021% | +0.177 pp | +0.453 pp | +2.243 pp | +4.017 pp | +1.7% |
| Jul 2021 | 3.844% | +0.115 pp | +0.300 pp | +1.763 pp | +3.840 pp | +7.4% |
| Jun 2021 | 3.729% | +0.161 pp | +1.963 pp | +0.102 pp | +3.725 pp | -0.7% |
| May 2021 | 3.569% | +0.024 pp | +1.790 pp | -0.105 pp | +3.565 pp | -1.7% |
| Apr 2021 | 3.545% | +1.778 pp | +1.464 pp | -0.276 pp | -0.037 pp | +0.0% |
| Mar 2021 | 1.766% | -0.012 pp | -1.861 pp | +1.762 pp | +1.763 pp | +0.6% |
| Feb 2021 | 1.778% | -0.303 pp | -1.895 pp | +1.774 pp | +1.776 pp | +6.4% |
| Jan 2021 | 2.081% | -1.547 pp | -1.740 pp | +2.077 pp | -1.165 pp | +9.9% |
| Dec 2020 | 3.627% | -0.046 pp | +3.623 pp | +3.623 pp | +0.572 pp | +23.6% |
| Nov 2020 | 3.673% | -0.148 pp | +3.669 pp | +3.670 pp | +0.523 pp | +20.4% |
| Oct 2020 | 3.821% | +3.817 pp | +3.817 pp | +0.239 pp | +0.751 pp | +30.3% |
| Sep 2020 | 0.004% | -0.000 pp | +0.000 pp | +0.001 pp | -3.106 pp | +32.3% |
| Aug 2020 | 0.004% | +0.001 pp | +0.001 pp | +0.002 pp | -3.234 pp | +28.9% |
| Jul 2020 | 0.004% | -0.000 pp | -3.578 pp | -3.242 pp | -3.187 pp | +16.3% |
| Jun 2020 | 0.004% | +0.000 pp | +0.001 pp | -3.052 pp | -3.196 pp | +20.7% |
| May 2020 | 0.004% | -3.578 pp | +0.001 pp | -3.146 pp | -3.234 pp | +16.9% |
| Apr 2020 | 3.582% | +3.579 pp | +0.336 pp | +0.512 pp | +0.241 pp | +13.0% |
| Mar 2020 | 0.003% | +0.000 pp | -3.053 pp | -3.108 pp | -3.287 pp | +11.3% |
| Feb 2020 | 0.003% | -3.243 pp | -3.148 pp | -3.236 pp | -3.309 pp | +6.3% |
| Jan 2020 | 3.246% | +0.190 pp | +0.176 pp | +0.055 pp | +1.488 pp | +8.0% |
| Dec 2019 | 3.056% | -0.095 pp | -0.055 pp | -0.144 pp | +1.335 pp | +3.3% |
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.