Tax-loss harvesting alternatives for INDV

Among the 30 Pharmaceuticals peers screened, SUPN (Supernus Pharmaceuticals, Inc.) has tracked INDV most closely over the past year, with a return correlation of 0.33. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.49 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
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.33	0.18	0.04	0.02
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.31	0.15	0.00	-0.01
INVA	Innoviva, Inc.	Pharmaceuticals	0.29	0.14	0.01	0.01
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.27	0.21	0.04	0.04
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.26	0.19	0.03	0.03
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.25	0.19	0.04	0.03
ELAN	Elanco	Pharmaceuticals	0.24	0.19	0.00	0.00
LLY	Eli Lilly	Pharmaceuticals	0.24	0.10	0.02	0.03
LQDA	Liquidia Corporation	Pharmaceuticals	0.23	0.09	-0.01	-0.01
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.23	0.11	0.02	0.02
GSK	GSK plc	Pharmaceuticals	0.22	0.10	0.01	0.03
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.22	0.17	-0.02	-0.01
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.22	0.13	0.02	0.02
PAHC	Phibro Animal Health	Pharmaceuticals	0.22	0.18	0.01	0.02
AZN	AstraZeneca	Pharmaceuticals	0.21	0.14	0.03	0.04
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.20	0.17	0.02	0.01
ALKS	Alkermes plc	Pharmaceuticals	0.19	0.15	0.02	0.02
PRGO	Perrigo	Pharmaceuticals	0.17	0.13	-0.01	0.00
JNJ	Johnson & Johnson	Pharmaceuticals	0.15	0.07	0.02	0.03
VTRS	Viatris	Pharmaceuticals	0.14	0.20	0.02	0.03
ZTS	Zoetis Inc.	Pharmaceuticals	0.14	0.15	0.01	0.02
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.13	0.14	0.00	0.00
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.13	0.08	-0.00	0.00
ABBV	AbbVie Inc.	Pharmaceuticals	0.13	0.13	-0.00	0.01
MRK	Merck & Co.	Pharmaceuticals	0.10	0.07	0.03	0.03
NVO	Novo Nordisk	Pharmaceuticals	0.09	0.09	0.04	0.05
PFE	Pfizer Inc.	Pharmaceuticals	0.09	0.12	0.03	0.04
SNY	Sanofi S.A.	Pharmaceuticals	0.08	0.04	0.02	0.04
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.05	0.10	0.03	0.02
OGN	Organon & Co.	Pharmaceuticals	0.03	0.14	0.01	—

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
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.49	0.33	0.05	0.04
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.38	0.24	0.05	0.04
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.37	0.29	0.01	0.01
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.36	0.28	0.03	0.02
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.30	0.22	0.01	0.02
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.29	0.22	0.01	0.02
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.29	0.20	0.04	0.04
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.27	0.20	0.01	0.02
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.25	0.18	0.01	0.02
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.23	0.25	0.00	0.00
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.19	0.18	-0.01	-0.00
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.08	0.09	-0.01	0.01

NEXT STEPS

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Replacement research for INDV's peers

SUPN ACAD INVA JAZZ AMRX PTCT ELAN LLY LQDA AMPH GSK ANIP BMY PAHC AZN COLL ALKS PRGO JNJ VTRS ZTS PCRX CORT ABBV MRK NVO PFE SNY PBH OGN

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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.