Systems Software
Systems Software is losing market weight. Lost weight for 1 consecutive month.
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 – May 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 |
|---|---|---|---|---|---|---|
| Microsoft → MSFT | Systems Software | United States | 0.008% | -5.511 pp | +50.0% | 0.0 |
| Gen Digital → GEN | Systems Software | United States | 0.000% | -0.067 pp | +114.4% | 0.0 |
| Fortinet → FTNT | Systems Software | United States | 0.000% | -0.014 pp | +92.1% | 0.0 |
| ServiceNow → NOW | Systems Software | United States | 0.000% | +0.000 pp | +48.1% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| May 2020 | 0.008% | -7.765 pp | +0.003 pp | -5.960 pp | -5.593 pp | +43.0% |
| Apr 2020 | 7.773% | +7.767 pp | +1.216 pp | +1.984 pp | +2.093 pp | +47.5% |
| Mar 2020 | 0.006% | +0.001 pp | -6.044 pp | -5.724 pp | -5.293 pp | +52.5% |
| Feb 2020 | 0.005% | -6.552 pp | -5.963 pp | -5.812 pp | -5.077 pp | +40.6% |
| Jan 2020 | 6.557% | +0.507 pp | +0.768 pp | +0.915 pp | +3.862 pp | +42.9% |
| Dec 2019 | 6.050% | +0.083 pp | +0.320 pp | +0.430 pp | +3.211 pp | +24.2% |
| Nov 2019 | 5.968% | +0.179 pp | +0.150 pp | +0.367 pp | +3.085 pp | +21.7% |
| Oct 2019 | 5.789% | +0.059 pp | +0.147 pp | +0.109 pp | +2.961 pp | +20.7% |
| Sep 2019 | 5.730% | -0.087 pp | +0.110 pp | +0.431 pp | +2.894 pp | +21.3% |
| Aug 2019 | 5.817% | +0.175 pp | +0.216 pp | +0.735 pp | +2.997 pp | +24.5% |
| Jul 2019 | 5.642% | +0.022 pp | -0.038 pp | +2.947 pp | +0.815 pp | +26.4% |
| Jun 2019 | 5.620% | +0.019 pp | +0.321 pp | +2.781 pp | +0.946 pp | +29.6% |
| May 2019 | 5.601% | -0.079 pp | +0.519 pp | +2.718 pp | +0.915 pp | +27.8% |
| Apr 2019 | 5.680% | +0.381 pp | +2.985 pp | +2.852 pp | +1.158 pp | +33.0% |
| Mar 2019 | 5.299% | +0.216 pp | +2.460 pp | +2.463 pp | +0.889 pp | +27.0% |
| Feb 2019 | 5.083% | +2.387 pp | +2.199 pp | +2.262 pp | +0.658 pp | +21.2% |
| Jan 2019 | 2.695% | -0.144 pp | -0.133 pp | -2.132 pp | -1.574 pp | +19.5% |
| Dec 2018 | 2.839% | -0.044 pp | +0.003 pp | -1.835 pp | -1.430 pp | +25.4% |
| Nov 2018 | 2.883% | +0.055 pp | +0.063 pp | -1.803 pp | -1.386 pp | +27.2% |
| Oct 2018 | 2.828% | -0.009 pp | -1.999 pp | -1.694 pp | -1.441 pp | +23.7% |
| Sep 2018 | 2.836% | +0.016 pp | -1.838 pp | -1.574 pp | -1.432 pp | +22.8% |
| Aug 2018 | 2.821% | -2.007 pp | -1.865 pp | -1.604 pp | -1.448 pp | +21.2% |
| Jul 2018 | 4.827% | +0.153 pp | +0.306 pp | +0.558 pp | +0.558 pp | +15.0% |
| Jun 2018 | 4.674% | -0.012 pp | +0.264 pp | +0.406 pp | +0.406 pp | +10.3% |
| May 2018 | 4.686% | +0.164 pp | +0.261 pp | +0.417 pp | +0.417 pp | +9.9% |
| Apr 2018 | 4.522% | +0.111 pp | +0.253 pp | +0.253 pp | +0.253 pp | +4.8% |
| Mar 2018 | 4.410% | -0.015 pp | +0.141 pp | +0.141 pp | +0.141 pp | +2.5% |
| Feb 2018 | 4.425% | +0.156 pp | +0.156 pp | +0.156 pp | +0.156 pp | +3.7% |
| Jan 2018 | 4.269% | +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.