Tax-loss harvesting alternatives for DIS

Among the 11 Movies & Entertainment peers screened, WMG (Warner Music Group) has tracked DIS most closely over the past year, with a return correlation of 0.36. The strongest fund stand-in is XLC (Communication Services SPDR) at 0.52 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
WMG	Warner Music Group	Movies & Entertainment	0.36	0.25	0.32	0.29
ROKU	Roku Inc.	Movies & Entertainment	0.34	0.33	0.41	0.29
TKO	TKO Group Holdings	Movies & Entertainment	0.34	0.27	0.27	0.29
NFLX	Netflix Inc.	Movies & Entertainment	0.31	0.25	0.42	0.33
LYV	Live Nation Entertainment	Movies & Entertainment	0.29	0.35	0.44	0.49
PSKY	Paramount Skydance	Movies & Entertainment	0.27	0.24	0.37	0.42
SPOT	Spotify Technology	Movies & Entertainment	0.26	0.22	0.37	0.34
WBD	Warner Bros. Discovery	Movies & Entertainment	0.19	0.34	0.44	0.43
CNK	Cinemark Holdings, Inc.	Movies & Entertainment	0.18	0.15	0.33	0.37
SPHR	Sphere Entertainment	Movies & Entertainment	0.15	0.31	0.34	0.35
MSGS	Madison Square Garden Sports Corp.	Movies & Entertainment	0.15	0.25	0.29	0.41

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
XLC	Communication Services SPDR	Comm Services Sector	SECTOR	0.52	0.51	0.61	0.62
VOX	Vanguard Communication Services	Comm Services Sector	SECTOR	0.45	0.48	0.61	0.61
FCOM	Fidelity MSCI Communication Services	Comm Services Sector	SECTOR	0.44	0.48	0.61	0.61
IVV	iShares Core S&P 500	S&P 500	BROAD	0.31	0.46	0.58	0.61
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.31	0.46	0.58	0.62
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.31	0.46	0.58	0.61
SOCL	Global X Social Media ETF	Social Media	SUB-IND	0.28	0.33	0.46	0.45
HERO	Global X Video Games & Esports	Gaming & Esports	SUB-IND	0.24	0.26	0.42	0.41
ESPO	VanEck Video Gaming & eSports	Gaming & Esports	SUB-IND	0.23	0.30	0.45	0.43
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.16	0.35	0.51	0.51
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.15	0.35	0.51	—
IYZ	iShares US Telecommunications ETF	Telecom	INDUSTRY	0.08	0.30	0.47	0.52

NEXT STEPS

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Replacement research for DIS's peers

WMG ROKU TKO NFLX LYV PSKY SPOT WBD CNK SPHR MSGS

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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.