Transportation vs the S&P 500 (IYT): is it outperforming?
Over the past month, IYT has outperformed the S&P 500 by 5.1 points. Here is where that puts it in the sector rotation — updated daily.
Where IYT sits on the rotation map
Transportation highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
IYT vs SPY: head-to-head returns
IYT (transportation) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means IYT won that window.
Data as of 2026-07-23 · computed from daily adjusted closes · how we measure
The read
Transportation (IYT) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 1.5 points, but over the past month it has moved decisively ahead of the market — a 5.1-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #25 of the 115 groups Zensei tracks.
On the shorter tape, IYT's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. IYT's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via iShares U.S. Transportation ETF, whose 43 tracked holdings are led by UNION PACIFIC CORP, UBER TECHNOLOGIES INC and CSX CORP. Weighted by portfolio, the fund's holdings trade at roughly 35.6× earnings and 4.1× sales. The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside IYT
Top 5 of 43 tracked holdings, by portfolio weight.
Transportation vs the market — common questions
Is transportation outperforming the S&P 500?
Right now, yes: over the past month IYT has outperformed the S&P 500 by 5.1 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is IYT?
IYT is iShares U.S. Transportation ETF, the fund Zensei uses to measure the transportation group against the S&P 500 benchmark (SPY).
Which stocks are in IYT?
IYT's largest tracked positions are UNION PACIFIC CORP, UBER TECHNOLOGIES INC, CSX CORP, UNITED PARCEL SERVICE INC CLASS B, UNITED AIRLINES HOLDINGS INC — 43 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is transportation in right now?
As of the latest daily data, transportation is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track transportation against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.