Tax-loss harvesting alternatives for ITW

Among the 4 Industrial Machinery & Supplies peers screened, IR (Ingersoll Rand) has tracked ITW most closely over the past year, with a return correlation of 0.74. The strongest fund stand-in is IYJ (iShares US Industrials ETF) at 0.63 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
IR	Ingersoll Rand	Industrial Machinery & Supplies	0.74	0.68	0.70	0.64
DOV	Dover Corp.	Industrial Machinery & Supplies	0.61	0.68	0.72	0.74
PH	Parker-Hannifin	Industrial Machinery & Supplies	0.54	0.61	0.68	0.75
CMI	Cummins Inc.	Industrial Machinery & Supplies	0.33	0.47	0.55	0.66

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
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.63	0.72	0.76	0.80
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.60	0.70	0.76	0.81
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.58	0.67	0.73	0.78
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.57	0.69	0.75	0.80
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.56	0.69	0.75	0.81
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.55	0.66	0.68	0.74
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.50	0.64	0.65	0.69
JETS	US Global Jets ETF	Airlines	SUB-IND	0.41	0.54	0.52	0.57
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.37	0.48	0.56	0.67
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.36	0.44	0.51	0.63
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.30	0.42	0.51	0.62
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.22	0.41	0.51	0.58

NEXT STEPS

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Replacement research for ITW's peers

IR DOV PH CMI

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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.