Tax-loss harvesting alternatives for LLY

Among the 30 Pharmaceuticals peers screened, AZN (AstraZeneca) has tracked LLY most closely over the past year, with a return correlation of 0.46. The strongest fund stand-in is IHE (iShares US Pharmaceuticals ETF) at 0.80 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
AZN	AstraZeneca	Pharmaceuticals	0.46	0.37	0.37	0.38
PFE	Pfizer Inc.	Pharmaceuticals	0.43	0.25	0.29	0.39
GSK	GSK plc	Pharmaceuticals	0.43	0.32	0.32	0.37
MRK	Merck & Co.	Pharmaceuticals	0.42	0.35	0.38	0.44
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.42	0.23	0.27	0.36
JNJ	Johnson & Johnson	Pharmaceuticals	0.40	0.24	0.31	0.41
ABBV	AbbVie Inc.	Pharmaceuticals	0.38	0.29	0.31	0.38
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.31	0.19	0.15	0.15
SNY	Sanofi S.A.	Pharmaceuticals	0.30	0.21	0.23	0.32
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.27	0.24	0.23	0.25
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.25	0.19	0.16	0.16
INDV	Indivior	Pharmaceuticals	0.24	0.10	0.02	0.03
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.23	0.22	0.23	0.28
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.23	0.22	0.16	0.16
ALKS	Alkermes plc	Pharmaceuticals	0.21	0.14	0.18	0.22
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.21	0.15	0.13	0.19
NVO	Novo Nordisk	Pharmaceuticals	0.20	0.33	0.38	0.38
INVA	Innoviva, Inc.	Pharmaceuticals	0.19	0.20	0.17	0.21
PRGO	Perrigo	Pharmaceuticals	0.18	0.16	0.18	0.22
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.18	0.07	0.12	0.16
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.18	0.14	0.18	0.23
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.17	0.03	0.06	0.14
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.17	0.12	0.11	0.13
VTRS	Viatris	Pharmaceuticals	0.17	0.15	0.15	0.20
ZTS	Zoetis Inc.	Pharmaceuticals	0.16	0.20	0.25	0.34
ELAN	Elanco	Pharmaceuticals	0.14	0.12	0.13	0.17
LQDA	Liquidia Corporation	Pharmaceuticals	0.14	0.17	0.11	0.11
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.14	0.10	0.10	0.14
PAHC	Phibro Animal Health	Pharmaceuticals	0.07	0.12	0.14	0.19
OGN	Organon & Co.	Pharmaceuticals	0.04	0.14	0.18	—

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
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.80	0.74	0.71	0.65
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.78	0.70	0.67	0.64
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.73	0.63	0.60	0.60
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.73	0.62	0.60	0.61
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.71	0.61	0.58	0.59
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.71	0.61	0.58	0.59
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.51	0.42	0.39	0.43
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.40	0.39	0.39	0.45
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.37	0.34	0.29	0.33
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.25	0.27	0.29	0.37
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.25	0.23	0.22	0.29
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.14	0.13	0.23	0.34

NEXT STEPS

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Replacement research for LLY's peers

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