Systems Software
Systems Software is gaining market weight. Lost weight for 4 consecutive months.
Most of this industry's gains 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 99% of gross gains. 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 – Mar 2022 · 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 | 7.779% | +4.302 pp | +31.8% | 0.0 |
| ServiceNow → NOW | Systems Software | United States | 0.075% | +0.037 pp | +11.4% | 0.0 |
| Gen Digital → GEN | Systems Software | United States | 0.052% | +0.028 pp | +27.1% | 0.0 |
| Fortinet → FTNT | Systems Software | United States | 0.037% | +0.025 pp | +85.3% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Mar 2022 | 7.943% | -0.004 pp | -0.315 pp | +0.333 pp | +4.392 pp | +23.5% |
| Feb 2022 | 7.948% | -0.055 pp | -0.611 pp | +0.190 pp | +4.369 pp | +20.5% |
| Jan 2022 | 8.003% | -0.255 pp | -0.492 pp | +0.502 pp | +3.721 pp | +18.8% |
| Dec 2021 | 8.258% | -0.300 pp | +0.648 pp | +0.895 pp | +1.295 pp | +28.2% |
| Nov 2021 | 8.558% | +0.063 pp | +0.801 pp | +1.671 pp | +1.533 pp | +30.0% |
| Oct 2021 | 8.495% | +0.885 pp | +0.994 pp | +1.470 pp | +1.081 pp | +20.6% |
| Sep 2021 | 7.610% | -0.147 pp | +0.247 pp | +4.058 pp | +7.602 pp | +6.7% |
| Aug 2021 | 7.757% | +0.256 pp | +0.871 pp | +4.179 pp | +7.749 pp | +5.1% |
| Jul 2021 | 7.501% | +0.138 pp | +0.476 pp | +3.219 pp | +7.494 pp | +5.1% |
| Jun 2021 | 7.363% | +0.476 pp | +3.811 pp | +0.400 pp | +7.354 pp | -3.4% |
| May 2021 | 6.887% | -0.139 pp | +3.308 pp | -0.138 pp | +6.879 pp | -3.0% |
| Apr 2021 | 7.026% | +3.474 pp | +2.744 pp | -0.388 pp | -0.748 pp | -3.2% |
| Mar 2021 | 3.552% | -0.027 pp | -3.411 pp | +3.544 pp | +3.545 pp | -2.3% |
| Feb 2021 | 3.578% | -0.704 pp | -3.447 pp | +3.570 pp | +3.573 pp | +11.3% |
| Jan 2021 | 4.282% | -2.680 pp | -3.132 pp | +4.274 pp | -2.275 pp | +17.3% |
| Dec 2020 | 6.962% | -0.063 pp | +6.954 pp | +6.954 pp | +0.912 pp | +23.1% |
| Nov 2020 | 7.025% | -0.389 pp | +7.016 pp | +7.017 pp | +1.057 pp | +24.7% |
| Oct 2020 | 7.414% | +7.406 pp | +7.406 pp | -0.359 pp | +1.625 pp | +36.4% |
| Sep 2020 | 0.008% | -0.001 pp | -0.000 pp | +0.002 pp | -5.722 pp | +38.8% |
| Aug 2020 | 0.009% | +0.001 pp | +0.001 pp | +0.003 pp | -5.809 pp | +42.4% |
| Jul 2020 | 0.008% | -0.001 pp | -7.766 pp | -6.550 pp | -5.635 pp | +42.3% |
| Jun 2020 | 0.009% | +0.001 pp | +0.002 pp | -6.042 pp | -5.612 pp | +51.1% |
| 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.