Tax-loss harvesting alternatives for GDX

The closest fund alternative to GDX (Gold Miners) is RING (iShares MSCI Global Gold Miners), with a return correlation of 0.99 over the past year. Among single names in the fund's slice of the market, NEM (Newmont Corp.) tracks it most closely at 0.93 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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ETFS

Fund stand-ins

Funds covering similar ground. Two funds tracking the same index may themselves be 'substantially identical' for wash-sale purposes.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
RING	iShares MSCI Global Gold Miners	Gold Miners	SUB-IND	0.99	0.99	0.99	0.98
COPX	Global X Copper Miners ETF	Copper Miners	SUB-IND	0.78	0.69	0.66	0.49
IYM	iShares US Basic Materials ETF	Materials Sector	SECTOR	0.78	0.61	0.57	0.40
XME	SPDR S&P Metals & Mining ETF	Metals & Mining	INDUSTRY	0.75	0.65	0.62	0.52
FMAT	Fidelity MSCI Materials ETF	Materials Sector	SECTOR	0.69	0.54	0.50	0.36
VAW	Vanguard Materials ETF	Materials Sector	SECTOR	0.69	0.54	0.50	0.36
SLX	VanEck Steel ETF	Steel	SUB-IND	0.59	0.45	0.45	0.32
XLB	Materials Select Sector SPDR	Materials Sector	SECTOR	0.59	0.48	0.47	0.34
IVV	iShares Core S&P 500	S&P 500	BROAD	0.45	0.32	0.32	0.23
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.45	0.32	0.32	0.23
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.44	0.32	0.32	0.23
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.42	0.32	0.32	0.24

STOCKS

Single-name peers

Single names inside the fund's slice of the market.

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
NEM	Newmont Corp.	Gold	0.93	0.89	0.88	0.86
RGLD	Royal Gold	Gold	0.90	0.88	0.88	0.87
CDE	Coeur Mining	Gold	0.87	0.78	0.77	0.74

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NEM RGLD CDE

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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.