Tax-loss harvesting alternatives for ACIW

Among the 49 Application Software peers screened, QTWO (Q2 Holdings, Inc.) has tracked ACIW most closely over the past year, with a return correlation of 0.62. The strongest fund stand-in is XSW (SPDR S&P Software & Services) at 0.60 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
QTWO	Q2 Holdings, Inc.	Application Software	0.62	0.59	0.55	0.54
ALRM	Alarm.Com, Inc.	Application Software	0.58	0.50	0.44	0.39
BOX	Box, Inc.	Application Software	0.56	0.38	0.38	0.34
BL	BlackLine Systems, Inc.	Application Software	0.56	0.48	0.46	0.38
TYL	Tyler Technologies	Application Software	0.55	0.46	0.46	0.44
MANH	Manhattan Associates	Application Software	0.55	0.42	0.43	0.45
WDAY	Workday Inc.	Application Software	0.54	0.41	0.42	0.44
DOCU	DocuSign Inc.	Application Software	0.54	0.42	0.40	0.34
CXM	Sprinklr, Inc.	Application Software	0.53	0.35	0.34	—
ADBE	Adobe Inc.	Application Software	0.53	0.39	0.41	0.43
INTU	Intuit Inc.	Application Software	0.53	0.42	0.43	0.46
ADSK	Autodesk	Application Software	0.51	0.46	0.46	0.48
GWRE	Guidewire Software	Application Software	0.50	0.37	0.39	0.42
NOW	ServiceNow	Application Software	0.48	0.41	0.44	0.43
CRM	Salesforce Inc.	Application Software	0.48	0.40	0.43	0.42
AGYS	Agilysys, Inc.	Application Software	0.48	0.38	0.35	0.39
PEGA	Pegasystems	Application Software	0.47	0.37	0.39	0.41
HUBS	HubSpot Inc.	Application Software	0.47	0.41	0.41	0.43
SPSC	SPS Commerce, Inc.	Application Software	0.46	0.44	0.43	0.43
BSY	Bentley Systems	Application Software	0.46	0.42	0.43	—
RAMP	LiveRamp Holdings, Inc.	Application Software	0.46	0.40	0.41	0.41
TRMB	Trimble Inc.	Application Software	0.46	0.47	0.50	0.51
BLKB	Blackbaud	Application Software	0.46	0.38	0.41	0.46
DT	Dynatrace	Application Software	0.45	0.38	0.41	0.38
TTD	The Trade Desk	Application Software	0.44	0.32	0.34	0.33
APPF	AppFolio	Application Software	0.44	0.30	0.35	0.40
DDOG	Datadog Inc.	Application Software	0.44	0.38	0.39	0.34
BILL	Bill Holdings	Application Software	0.44	0.37	0.37	0.35
FICO	Fair Isaac	Application Software	0.44	0.40	0.40	0.46
SHOP	Shopify Inc.	Application Software	0.44	0.47	0.43	0.38
FIVN	Five9, Inc.	Application Software	0.43	0.38	0.39	0.34
RNG	RingCentral, Inc.	Application Software	0.43	0.41	0.41	0.37
ZM	Zoom Video Communications	Application Software	0.40	0.38	0.36	0.21
DBX	Dropbox	Application Software	0.39	0.36	0.40	0.38
PTC	PTC Inc.	Application Software	0.36	0.38	0.41	0.44
ZS	Zscaler Inc.	Application Software	0.36	0.38	0.36	0.30
TEAM	Atlassian Corp.	Application Software	0.35	0.35	0.37	0.33
PATH	UiPath Inc.	Application Software	0.33	0.37	0.41	—
SNOW	Snowflake Inc.	Application Software	0.33	0.31	0.32	—
CDNS	Cadence Design Systems	Application Software	0.32	0.34	0.37	0.41
YOU	Clear Secure, Inc.	Application Software	0.31	0.30	0.31	—
TWLO	Twilio Inc.	Application Software	0.29	0.33	0.36	0.33
MDB	MongoDB Inc.	Application Software	0.25	0.30	0.33	0.33
SNPS	Synopsys Inc.	Application Software	0.25	0.32	0.36	0.39
DLB	Dolby	Application Software	0.23	0.31	0.35	0.42
U	Unity Software	Application Software	0.23	0.33	0.36	—
LIF	Life360	Application Software	0.19	0.28	—	—
PLTR	Palantir Technologies	Application Software	0.15	0.28	0.31	—
CALX	Calix	Application Software	0.10	0.22	0.31	0.32

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XSW	SPDR S&P Software & Services	Software (Equal Wt)	INDUSTRY	0.60	0.60	0.59	0.61
WCLD	WisdomTree Cloud Computing	Cloud Computing	SUB-IND	0.58	0.57	0.54	0.50
CLOU	Global X Cloud Computing ETF	Cloud Computing	SUB-IND	0.49	0.54	0.53	0.51
IGV	iShares Expanded Tech-Software	Software	INDUSTRY	0.49	0.50	0.52	0.54
BUG	Global X Cybersecurity ETF	Cybersecurity	SUB-IND	0.45	0.49	0.48	0.47
SKYY	First Trust Cloud Computing	Cloud Computing	SUB-IND	0.41	0.50	0.51	0.53
HACK	ETFMG Prime Cyber Security	Cybersecurity	SUB-IND	0.40	0.47	0.49	0.54
CIBR	First Trust Cybersecurity ETF	Cybersecurity	SUB-IND	0.40	0.47	0.49	0.52
VGT	Vanguard Info Tech ETF	Tech Sector	SECTOR	0.05	0.33	0.42	0.50
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.03	0.34	0.43	0.49
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.03	0.34	0.43	—
XLK	Technology Select Sector SPDR	Tech Sector	SECTOR	-0.01	0.29	0.39	0.48

NEXT STEPS

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Replacement research for ACIW's peers

QTWO ALRM BOX BL TYL MANH WDAY DOCU CXM ADBE INTU ADSK GWRE NOW CRM AGYS PEGA HUBS SPSC BSY RAMP TRMB BLKB DT TTD APPF DDOG BILL FICO SHOP FIVN RNG ZM DBX PTC ZS TEAM PATH SNOW CDNS YOU TWLO MDB SNPS DLB U LIF PLTR CALX

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.