Overview
The airline industry in one ticker — the US big four at ~10-12% each plus regionals, international carriers and aircraft makers, 48 names across global aviation.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| LUV | Southwest Airlines | 12.4% |
| DAL | Delta Air Lines | 11.1% |
| AAL | American Airlines | 10.8% |
| UAL | United Airlines | 10.4% |
| SKYW | SkyWest | 3.7% |
| ALGT | Allegiant Travel | 3.5% |
| ULCC | Frontier Group | 3.4% |
| ALK | Alaska Air Group | 3.3% |
| AC | Air Canada | 2.8% |
| BBD.B | Bombardier | 2.3% |
Fund Details
Investment Thesis
Air travel demand sits at records while airline equities trade far below their pre-2020 marks — the recovery happened in the income statements but not yet the multiples. Consolidation has given the big four genuine pricing power for the first time in decades, and premium-cabin revenue is rewriting the margin structure. A +4% year against $100 crude is resilience; any fuel relief drops straight to earnings in the most operationally-levered consumer sector listed.
Who It's For
Cyclical value investors playing record travel demand against depressed airline multiples — a contrarian sector bet with consolidation as the structural tailwind.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $27.87 | -- |
| 2017 | $32.56 | +16.8% |
| 2018 | $27.88 | -14.4% |
| 2019 | $31.50 | +13.0% |
| 2020 | $22.38 | -29.0% |
| 2021 | $21.09 | -5.8% |
| 2022 | $17.08 | -19.0% |
| 2023 | $19.03 | +11.4% |
| 2024 | $25.35 | +33.2% |
| 2025 | $28.07 | +10.7% |
| Year | Yield |
|---|---|
| 2016 | 1.57% |
| 2017 | 1.57% |
| 2018 | 0.62% |
| 2019 | 1.23% |
| 2020 | 0.04% |
| 2021 | 0.67% |
| 2022 | 0.00% |
| 2023 | 0.00% |
| 2024 | 0.00% |
| 2025 | 0.82% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.8B | -- |
| 2017 | $0.9B | +12.5% |
| 2018 | $0.8B | -11.1% |
| 2019 | $0.9B | +12.5% |
| 2020 | $0.6B | -33.3% |
| 2021 | $0.6B | +0.0% |
| 2022 | $0.5B | -16.7% |
| 2023 | $0.5B | +0.0% |
| 2024 | $0.7B | +40.0% |
| 2025 | $0.8B | +14.3% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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