Travel & Experiences
The experiences-over-goods consumer: booking platforms, hotels, cruise lines, airlines, casinos, dining out, and mobility. High-beta discretionary — the first thing cut in a real slowdown.
Performance
Follow the theme against the wider market.
Series before each basket's creation date are a backtest of the membership as of creation; live tracking starts at creation.
| Return | 1 day | 5 days | 20 days | 60 days | MTD | YTD | 1 year |
|---|---|---|---|---|---|---|---|
| Basket | +0.0% | -3.4% | -8.2% | +2.6% | -0.5% | -0.3% | +3.7% |
| vs S&P 500 | +0.4% | -3.5% | -7.9% | -3.5% | -0.9% | -11.9% | -13.2% |
Inside the basket · 16 stocks
Current members and the reasoning behind each inclusion. Returns are for individual stocks.
| Why it’s included | Added | |||||
|---|---|---|---|---|---|---|
| ABNB | Alternative accommodation platform | -1.8% | -4.0% | +2.2% | +34.0% | 2026-06-11 |
| DRI | Casual and fine dining — dining-out spend | -0.5% | +0.6% | +1.5% | +20.6% | 2026-06-11 |
| UBER | The mobility layer of the experiences economy | -0.3% | -3.9% | +1.0% | -7.3% | 2026-06-11 |
| HLT | Same model, same fee stream | -1.0% | -3.3% | -2.0% | +8.5% | 2026-06-11 |
| LVS | Macau/Singapore gaming | -0.3% | -1.5% | -3.1% | -30.6% | 2026-06-11 |
| EXPE | OTA #2, value case | -1.7% | -9.5% | -3.9% | +5.8% | 2026-06-11 |
| MAR | Asset-light hotel fees | +0.1% | -4.2% | -4.7% | +9.1% | 2026-06-11 |
| MGM | Vegas + digital betting | +0.2% | -2.5% | -7.3% | +13.0% | 2026-06-11 |
| BKNG | Global OTA cash machine | -0.9% | -6.0% | -9.9% | -9.3% | 2026-06-11 |
| WYNN | Macau/Vegas premium gaming | -0.0% | -3.9% | -10.5% | -23.4% | 2026-06-11 |
| DAL | Premium-cabin airline economics | +1.8% | +0.1% | -12.2% | +16.4% | 2026-06-11 |
| UAL | Long-haul international exposure | +2.5% | +0.7% | -14.0% | -0.4% | 2026-06-11 |
| LUV | Domestic leisure airline | +2.3% | +0.4% | -15.4% | -2.9% | 2026-06-11 |
| RCL | Cruise demand supercycle | -0.1% | -5.1% | -17.1% | -3.9% | 2026-06-11 |
| CCL | Cruise deleveraging story | +0.1% | -5.0% | -18.9% | -21.8% | 2026-06-11 |
| NCLH | Cruise #3, highest leverage | -0.1% | -6.5% | -19.1% | -30.2% | 2026-06-11 |
Partial price histories: ABNB from 2020-12-10.
How this basket is built
Equal-weighted, monthly-rebalanced, buy-and-hold between rebalances; dated membership changes take effect same-day.
Tracked since 2026-06-11. Membership decisions are documented below.
Read the methodology →Reading the returns
Basket returns include dividends. “vs S&P 500” compares the basket’s compounded growth with the benchmark’s. Green means positive; red means negative.
Cross-checked against PEJ. Daily return correlation: 0.89 across 1678 sessions. dynamic-screened leisure index, mid-cap inclusive
Membership history & changes
- expand
FW 3000 pass: added H, CHH, WH, CZR, BYD, MTN, ALK, JBLU — names outside the S&P 500 but inside our broad universe; they count only in the FW 3000 version of this basket. Effective-dated to creation so the broad backtest covers the full set. The S&P 500 basket is unchanged.
- expand
Widening pass: completed the S&P 500 airline and casino sets (LUV, WYNN) and added the dining-out and mobility legs (DRI, UBER). Reference pinned to PEJ. New members are effective-dated to basket creation so the backtest and the reference correlation cover the widened set (the basket was one day old, with no meaningful live history to restate).
- create
Initial composition across platforms, lodging, cruise, air, gaming.