Tax-loss harvesting alternatives for HLNE

Among the 24 Asset Management & Custody Banks peers screened, STEP (StepStone Group) has tracked HLNE most closely over the past year, with a return correlation of 0.74. The strongest fund stand-in is IPAY (ETFMG Prime Mobile Payments) 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
STEP	StepStone Group	Asset Management & Custody Banks	0.74	0.73	0.74	0.67
BX	Blackstone Inc.	Asset Management & Custody Banks	0.68	0.69	0.70	0.61
KKR	KKR & Co.	Asset Management & Custody Banks	0.67	0.68	0.71	0.61
CG	Carlyle Group (The)	Asset Management & Custody Banks	0.66	0.66	0.69	0.60
ARES	Ares Management	Asset Management & Custody Banks	0.65	0.65	0.68	0.56
APO	Apollo Global Management	Asset Management & Custody Banks	0.60	0.63	0.67	0.55
BLK	BlackRock Inc.	Asset Management & Custody Banks	0.51	0.56	0.61	0.58
APAM	Artisan Partners Asset Management, Inc.	Asset Management & Custody Banks	0.50	0.58	0.63	0.56
IVZ	Invesco Ltd.	Asset Management & Custody Banks	0.46	0.54	0.59	0.51
BEN	Franklin Templeton	Asset Management & Custody Banks	0.45	0.49	0.56	0.47
SEIC	SEI Investments Company	Asset Management & Custody Banks	0.43	0.55	0.60	0.54
AMP	Ameriprise Financial	Asset Management & Custody Banks	0.42	0.55	0.59	0.53
FHI	Federated Hermes	Asset Management & Custody Banks	0.42	0.46	0.49	0.47
CRBG	Corebridge Financial	Asset Management & Custody Banks	0.41	0.51	0.50	—
TROW	T. Rowe Price	Asset Management & Custody Banks	0.41	0.53	0.60	0.54
VCTR	Victory Capital Holdings, Inc.	Asset Management & Custody Banks	0.40	0.56	0.58	0.44
VRTS	Virtus Investment Partners, Inc.	Asset Management & Custody Banks	0.39	0.52	0.60	0.52
AMG	Affiliated Managers Group	Asset Management & Custody Banks	0.38	0.52	0.59	0.50
AAMI	Acadian Asset Management Inc.	Asset Management & Custody Banks	0.38	0.44	0.48	0.46
WT	WisdomTree Investments, Inc.	Asset Management & Custody Banks	0.38	0.46	0.48	0.44
CNS	Cohen & Steers, Inc.	Asset Management & Custody Banks	0.37	0.50	0.58	0.53
NTRS	Northern Trust	Asset Management & Custody Banks	0.30	0.46	0.50	0.48
STT	State Street Corp.	Asset Management & Custody Banks	0.30	0.47	0.50	0.46
BNY	BNY Mellon	Asset Management & Custody Banks	0.27	0.43	0.49	0.45

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
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.52	0.62	0.65	0.62
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.51	0.62	0.65	0.59
FINX	Global X FinTech ETF	FinTech	SUB-IND	0.51	0.60	0.64	0.60
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.50	0.62	0.65	0.60
IAI	iShares Broker-Dealers & Exchanges	Capital Markets	INDUSTRY	0.49	0.62	0.66	0.62
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.49	0.60	0.63	0.57
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	0.43	0.55	0.58	0.57
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.40	0.56	0.58	0.53
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.38	0.55	0.58	0.54
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.34	0.52	0.55	0.51
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.27	0.41	0.49	0.52
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.17	0.32	0.40	0.47

NEXT STEPS

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Replacement research for HLNE's peers

STEP BX KKR CG ARES APO BLK APAM IVZ BEN SEIC AMP FHI CRBG TROW VCTR VRTS AMG AAMI WT CNS NTRS STT BNY

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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.