FedEx Freight Holding Set to Join Dow Jones Transportation Average

FedEx Freight Holding (NYSE: FDXF) will join the Dow Jones Transportation Average (DJTA) before the market opens on June 1, 2026, replacing American Airlines Group (NASD: AAL).

Rhea-AI Summary

FedEx Freight Holding (NYSE: FDXF) will join the Dow Jones Transportation Average (DJTA) before the market opens on June 1, 2026, replacing American Airlines Group (NASD: AAL). The change follows FedEx Corp’s spin-off of FedEx Freight Holding; FedEx Corp will remain in the DJTA.

The DJTA’s divisor will be adjusted June 1, 2026 to avoid index distortion. American Airlines currently has an index weight below 0.5% due to its low share price in this price-weighted index.

Positive

• FedEx Freight Holding (FDXF) added to DJTA effective June 1, 2026
• FedEx Corp remains in DJTA post FedEx Freight Holding spin-off
• Index divisor adjustment aims to prevent DJTA calculation distortion

Negative

• American Airlines Group (AAL) removed from DJTA on June 1, 2026
• American Airlines’ DJTA weight under 0.5% due to low share price

Argus May 28 session

-1.81% close to close Open Argus

Details

News Market Reaction – AAL

In the May 28 session, AAL declined 1.81%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement describes a mechanical index change: American Airlines will be removed from the Do...

Analysis

This announcement describes a mechanical index change: American Airlines will be removed from the Dow Jones Transportation Average on June 1, 2026 due to its low share price and index weight below 0.5 percentage point. The DJTA’s price‑weighted structure means low‑priced stocks have limited impact, and the divisor will be adjusted to avoid distortion. In context, recent AAL news has centered on record $13.9 billion Q1 revenue, ongoing losses, and capital structure progress, suggesting investors should track fundamentals alongside index membership shifts.

Key Figures

DJTA change date: June 1, 2026 AAL index weight: Less than 0.5 percentage point Index invention year: 1884 +2 more

DJTA change date

June 1, 2026

Effective date for AAL deletion and FDXF addition in Dow Jones Transportation Average

AAL index weight

Less than 0.5 percentage point

AAL’s weight in DJTA prior to deletion due to low share price

Index invention year

1884

Year Charles Dow created the first index referenced by S&P DJI

New divisor availability date

May 29, 2026

Date new DJTA divisor available in end-of-day files via S&P DJI FTP

AAL pre-news price

$14.93

AAL price before DJTA deletion announcement in provided market data

Historical Context

5 past events · Latest: May 20

5 events

1. May 20

   Conference webcast

   24h Move

   +6.2%

   CEO fireside chat announcement and webcast accessibility for investors.

2. Apr 23

   Earnings results

   24h Move

   +2.4%

   Record Q1 revenue with ongoing losses, detailed guidance and debt reduction.

3. Apr 17

   Strategic statement

   24h Move

   -4.2%

   Company denied any merger discussions with United, reaffirming standalone strategy.

4. Apr 09

   Earnings webcast

   24h Move

   -0.3%

   Announcement of Q1 results call and webcast logistics for investors.

5. Apr 08

   Sustainability project

   24h Move

   +5.5%

   Project Atlas selected for next-generation SAF procurement with emissions goals.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

dow jones transportation average, price weighted index, gics (global industry classification standard), divisor, +2 more

6 terms

dow jones transportation average financial

"FedEx Freight Holding Company Inc. (NYSE:FDXF) will replace American Airlines Group Inc. (NASD:AAL) in the Dow Jones Transportation Average (DJTA)..."

A stock market index that tracks the share prices of a group of transportation companies—like airlines, railroads, trucking and shipping firms—used as a snapshot of how that sector is performing. Investors watch it as a sector-specific barometer: rising values suggest stronger demand for moving goods and people, which can signal broader economic activity, while drops can warn of slowing trade or travel, helping inform portfolio and trading decisions.

price weighted index financial

"The Dow Jones Transportation Average is a price weighted index, and thus very low-priced stocks have an immaterial impact..."

A price-weighted index is a stock market measure where each component’s influence is based only on its share price, so higher-priced stocks move the index more than lower-priced ones regardless of company size. Think of it like averaging test scores where a single high-score question counts more than many low-score questions; this can make the index swing with changes in a few pricey stocks and matters to investors because it affects how representative the index is and how related funds or derivatives will perform.

gics (global industry classification standard) financial

"GICS (Global Industry Classification Standard) Industry"

A standardized system that groups companies into sectors and industries so investors can compare similar businesses across markets. Think of it as a filing system or map that sorts every company into consistent categories, letting investors track industry trends, build diversified portfolios, and benchmark performance without getting confused by different company descriptions.

divisor technical

"The divisor used to calculate the index from the components' prices on their respective home exchanges will be changed..."

A divisor is a single number used to adjust a stock market index’s calculation so the index stays continuous when events like stock splits, dividends, or company additions change the raw share totals. Think of it like recalibrating a scale after changing its weights: the divisor prevents mechanical changes from looking like real market moves, which helps investors and index funds compare performance over time and value index-linked products accurately.

s&p 500 financial

"home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®."

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

dow jones industrial average financial

"home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®."

A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.

View in glossary

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NEW YORK, May 27, 2026 /PRNewswire/ -- FedEx Freight Holding Company Inc. (NYSE:FDXF) will replace American Airlines Group Inc. (NASD:AAL) in the Dow Jones Transportation Average (DJTA) effective prior to the open of trading on Monday, June, 1, 2026. Dow Jones Transportation Average constituent FedEx Corp. (NYSE:FDX) is spinning off FedEx Freight Holding Company in a transaction expected to be completed on June 1. Post spin-off, parent FedEx will remain in the DJTA. American Airlines Group has a low weight in the index of less than one-half of one percentage point caused by its low share price. The Dow Jones Transportation Average is a price weighted index, and thus very low-priced stocks have an immaterial impact on the index.

The divisor used to calculate the index from the components' prices on their respective home exchanges will be changed prior to the opening on June 1, 2026. This procedure prevents any distortion in the index's reflection of the portion of the U.S. stock market it is designed to measure. The new divisor can be found in the end-of-day index level files (*.SDL) via the S&P Dow Jones Indices FTP (EDX) site beginning on Friday, May 29, 2026.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS (Global Industry Classification Standard) Industry
June 1, 2026	DJTA	Addition	FedEx Freight Holding Co	FDXF	Cargo Ground Transportation
June 1, 2026	DJTA	Deletion	American Airlines Group	AAL	Passenger Airlines

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/fedex-freight-holding-set-to-join-dow-jones-transportation-average-302783889.html

SOURCE S&P Dow Jones Indices

FAQ

When will American Airlines Group (AAL) be removed from the Dow Jones Transportation Average?

American Airlines Group (AAL) will be removed from the Dow Jones Transportation Average before the market opens on June 1, 2026. According to S&P Dow Jones Indices, AAL will be replaced by FedEx Freight Holding on that effective date.

Which company is replacing American Airlines Group (AAL) in the Dow Jones Transportation Average?

FedEx Freight Holding Company (NYSE: FDXF) will replace American Airlines Group (AAL) in the Dow Jones Transportation Average. According to S&P Dow Jones Indices, the addition and deletion are both effective prior to the open on June 1, 2026.

Why is American Airlines Group (AAL) being removed from the Dow Jones Transportation Average?

American Airlines Group (AAL) is being removed because it has a very low index weight under one-half of one percent. According to S&P Dow Jones Indices, this low weight results from AAL’s low share price in the price-weighted DJTA.

How does the FedEx Freight Holding (FDXF) spin-off affect the Dow Jones Transportation Average?

FedEx Corp is spinning off FedEx Freight Holding, which will join the Dow Jones Transportation Average. According to S&P Dow Jones Indices, FedEx Freight Holding will be added while parent FedEx Corp remains a DJTA component after the June 1, 2026 transaction.

What index changes will occur to the Dow Jones Transportation Average on June 1, 2026?

On June 1, 2026, FedEx Freight Holding (FDXF) will be added and American Airlines Group (AAL) deleted from the DJTA. According to S&P Dow Jones Indices, the index divisor will also be adjusted to avoid calculation distortion.

How will the DJTA divisor change related to FedEx Freight Holding and American Airlines (AAL)?

The Dow Jones Transportation Average divisor will be changed before trading opens on June 1, 2026. According to S&P Dow Jones Indices, this adjustment helps prevent distortion as FedEx Freight Holding is added and American Airlines Group is removed.

Where can investors find the new Dow Jones Transportation Average divisor after June 1, 2026?

Investors can find the updated Dow Jones Transportation Average divisor in end-of-day index level (*.SDL) files. According to S&P Dow Jones Indices, these files are available via the S&P DJI FTP (EDX) site starting Friday, May 29, 2026.