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 0.38. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.50 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	0.38	0.19	0.04	0.02
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.30	0.16	0.00	-0.01
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.30	0.21	0.04	0.04
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.29	0.19	0.04	0.03
LLY	Eli Lilly	Pharmaceuticals	0.28	0.10	0.02	0.03
INVA	Innoviva, Inc.	Pharmaceuticals	0.28	0.14	0.02	0.01
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.28	0.19	0.03	0.03
ELAN	Elanco	Pharmaceuticals	0.27	0.19	0.00	0.00
GSK	GSK plc	Pharmaceuticals	0.27	0.10	0.01	0.03
PAHC	Phibro Animal Health	Pharmaceuticals	0.26	0.17	0.01	0.02
AZN	AstraZeneca	Pharmaceuticals	0.25	0.14	0.03	0.04
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.25	0.17	-0.02	-0.01
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.24	0.11	0.02	0.02
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.23	0.12	0.02	0.02
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.22	0.18	0.02	0.01
LQDA	Liquidia Corporation	Pharmaceuticals	0.22	0.09	-0.01	-0.01
ALKS	Alkermes plc	Pharmaceuticals	0.21	0.16	0.02	0.02
PRGO	Perrigo	Pharmaceuticals	0.18	0.12	-0.01	0.00
VTRS	Viatris	Pharmaceuticals	0.17	0.20	0.02	0.03
JNJ	Johnson & Johnson	Pharmaceuticals	0.17	0.08	0.02	0.03
ABBV	AbbVie Inc.	Pharmaceuticals	0.15	0.13	0.00	0.01
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.15	0.09	-0.00	0.00
ZTS	Zoetis Inc.	Pharmaceuticals	0.15	0.15	0.01	0.02
MRK	Merck & Co.	Pharmaceuticals	0.14	0.07	0.03	0.03
SNY	Sanofi S.A.	Pharmaceuticals	0.13	0.04	0.02	0.04
NVO	Novo Nordisk	Pharmaceuticals	0.13	0.09	0.04	0.05
PFE	Pfizer Inc.	Pharmaceuticals	0.12	0.12	0.03	0.04
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.08	0.11	0.03	0.02
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.05	0.11	0.00	0.00
OGN	Organon & Co.	Pharmaceuticals	0.03	0.13	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	0.50	0.33	0.05	0.04
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.43	0.24	0.05	0.04
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.39	0.28	0.03	0.02
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.39	0.29	0.01	0.01
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.34	0.22	0.01	0.02
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.33	0.20	0.04	0.04
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.33	0.22	0.01	0.02
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.31	0.20	0.01	0.02
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.29	0.18	0.01	0.02
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.24	0.25	0.00	0.00
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.20	0.18	-0.01	-0.00
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.06	0.09	-0.01	0.01

NEXT STEPS

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Replacement research for INDV's peers

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