Tax-loss harvesting alternatives for ACT

Among the 3 Commercial & Residential Mortgage Finance peers screened, NMIH (NMI Holdings, Inc.) has tracked ACT most closely over the past year, with a return correlation of 0.80. The strongest fund stand-in is IAK (iShares US Insurance ETF) at 0.55 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
NMIH	NMI Holdings, Inc.	Commercial & Residential Mortgage Finance	0.80	0.76	0.62	—
ESNT	Essent Group Ltd.	Commercial & Residential Mortgage Finance	0.75	0.77	0.64	—
WD	Walker & Dunlop, Inc.	Commercial & Residential Mortgage Finance	0.22	0.36	0.37	—

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
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.55	0.57	0.54	—
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.53	0.60	0.56	—
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.49	0.54	0.55	—
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.47	0.52	0.53	—
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.38	0.53	0.55	—
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.37	0.51	0.53	—
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.35	0.52	0.54	—
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.28	0.44	0.50	—
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.18	0.37	0.42	—
IAI	iShares Broker-Dealers & Exchanges	Capital Markets	INDUSTRY	0.06	0.36	0.44	—
FINX	Global X FinTech ETF	FinTech	SUB-IND	-0.05	0.26	0.34	—
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	-0.14	0.20	0.29	—

NEXT STEPS

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Replacement research for ACT's peers

NMIH ESNT WD

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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.