Tax-loss harvesting alternatives for IAI

The closest fund alternative to IAI (Capital Markets) is IYF (iShares US Financials ETF), with a return correlation of 0.82 over the past year. Among single names in the fund's slice of the market, GS (Goldman Sachs) tracks it most closely at 0.77 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
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.82	0.89	0.91	0.92
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.80	0.88	0.90	0.92
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.78	0.86	0.89	0.92
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.74	0.83	0.84	0.87
FINX	Global X FinTech ETF	FinTech	SUB-IND	0.72	0.79	0.76	0.72
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	0.71	0.77	0.70	0.65
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.66	0.77	0.79	0.82
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.65	0.78	0.78	0.78
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.53	0.71	0.76	0.82
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.48	0.67	0.72	0.79
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.25	0.55	0.68	0.79
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.12	0.46	0.61	0.76

STOCKS

Single-name peers

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

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
GS	Goldman Sachs	Investment Banking & Brokerage	0.77	0.85	0.85	0.87
IBKR	Interactive Brokers	Investment Banking & Brokerage	0.73	0.68	0.69	0.70
EVR	Evercore	Investment Banking & Brokerage	0.70	0.79	0.80	0.78
MC	Moelis & Company	Investment Banking & Brokerage	0.67	0.72	0.72	0.68
HOOD	Robinhood Markets	Investment Banking & Brokerage	0.66	0.68	0.59	—
COIN	Coinbase Global	Financial Exchanges & Data	0.61	0.63	0.56	—
MCO	Moody's Corporation	Financial Exchanges & Data	0.55	0.68	0.66	0.68
HLI	Houlihan Lokey	Investment Banking & Brokerage	0.49	0.66	0.67	0.61
ICE	Intercontinental Exchange	Financial Exchanges & Data	0.47	0.50	0.56	0.65
BGC	BGC Group, Inc.	Investment Banking & Brokerage	0.43	0.52	0.54	0.58
DFIN	Donnelley Financial Solutions, Inc.	Financial Exchanges & Data	0.37	0.43	0.47	0.48
FDS	FactSet	Financial Exchanges & Data	0.24	0.34	0.40	0.51
CME	CME Group	Financial Exchanges & Data	0.13	0.11	0.29	0.55
CBOE	Cboe Global Markets	Financial Exchanges & Data	0.03	-0.01	0.17	0.38

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GS IBKR EVR MC HOOD COIN MCO HLI ICE BGC DFIN FDS CME CBOE

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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.