Tax-loss harvesting alternatives for HWM

Among the 25 Aerospace & Defense peers screened, CW (Curtiss-Wright) has tracked HWM most closely over the past year, with a return correlation of 0.62. The strongest fund stand-in is ITA (iShares Aerospace & Defense ETF) at 0.72 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
CW	Curtiss-Wright	Aerospace & Defense	0.62	0.61	0.61	0.63
ATI	ATI Inc.	Aerospace & Defense	0.61	0.59	0.59	0.58
HXL	Hexcel	Aerospace & Defense	0.58	0.50	0.62	0.63
SARO	StandardAero	Aerospace & Defense	0.56	0.56	—	—
VSEC	VSE Corporation	Aerospace & Defense	0.53	0.45	0.46	0.43
BWXT	BWX Technologies	Aerospace & Defense	0.53	0.47	0.46	0.41
AIR	AAR Corp.	Aerospace & Defense	0.50	0.47	0.55	0.55
RTX	RTX Corp.	Aerospace & Defense	0.49	0.43	0.49	0.60
MOG-A	Moog Inc.	Aerospace & Defense	0.49	0.53	0.55	0.58
BA	Boeing Co.	Aerospace & Defense	0.40	0.42	0.52	0.57
TDG	TransDigm Group	Aerospace & Defense	0.40	0.48	0.60	0.57
TXT	Textron	Aerospace & Defense	0.40	0.41	0.52	0.59
HII	Huntington Ingalls Industries	Aerospace & Defense	0.37	0.23	0.29	0.39
GD	General Dynamics	Aerospace & Defense	0.33	0.32	0.40	0.50
LHX	L3Harris Technologies	Aerospace & Defense	0.32	0.29	0.32	0.40
KRMN	Karman Holdings	Aerospace & Defense	0.31	—	—	—
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.31	0.34	0.38	0.38
NOC	Northrop Grumman	Aerospace & Defense	0.29	0.15	0.21	0.31
PSN	Parsons Corporation	Aerospace & Defense	0.22	0.20	0.27	0.36
VVX	V2X, Inc.	Aerospace & Defense	0.22	0.25	0.29	0.32
LMT	Lockheed Martin	Aerospace & Defense	0.21	0.19	0.23	0.36
AXON	Axon Enterprise	Aerospace & Defense	0.16	0.27	0.29	0.28
AVAV	AeroVironment	Aerospace & Defense	0.16	0.21	0.25	0.27
NPK	National Presto Industries, Inc.	Aerospace & Defense	0.15	0.22	0.28	0.31
HONA	Honeywell Aerospace	Aerospace & Defense	—	—	—	—

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
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.72	0.70	0.74	0.73
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.66	0.68	0.72	0.71
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.62	0.62	0.68	0.69
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.62	0.64	0.70	0.71
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.61	0.62	0.67	0.69
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.61	0.62	0.68	0.69
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.57	0.60	0.66	0.67
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.56	0.60	0.66	0.68
JETS	US Global Jets ETF	Airlines	SUB-IND	0.41	0.43	0.53	0.59
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.40	0.47	0.53	0.50
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.33	0.41	0.51	0.57
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.31	0.41	0.51	0.57

NEXT STEPS

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Replacement research for HWM's peers

CW ATI HXL SARO VSEC BWXT AIR RTX MOG-A BA TDG TXT HII GD LHX KRMN KTOS NOC PSN VVX LMT AXON AVAV NPK HONA

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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.