Tax-loss harvesting alternatives for MORN

Among the 12 Financial Exchanges & Data peers screened, FDS (FactSet) has tracked MORN most closely over the past year, with a return correlation of 0.80. The strongest fund stand-in is IPAY (ETFMG Prime Mobile Payments) at 0.44 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
FDS	FactSet	Financial Exchanges & Data	0.80	0.71	0.66	0.57
SPGI	S&P Global	Financial Exchanges & Data	0.62	0.60	0.59	0.53
MCO	Moody's Corporation	Financial Exchanges & Data	0.60	0.60	0.62	0.55
MSCI	MSCI Inc.	Financial Exchanges & Data	0.58	0.53	0.60	0.54
NDAQ	Nasdaq Inc.	Financial Exchanges & Data	0.55	0.57	0.57	0.51
ICE	Intercontinental Exchange	Financial Exchanges & Data	0.49	0.48	0.50	0.46
DFIN	Donnelley Financial Solutions, Inc.	Financial Exchanges & Data	0.42	0.40	0.42	0.34
COIN	Coinbase Global	Financial Exchanges & Data	0.25	0.24	0.34	—
CME	CME Group	Financial Exchanges & Data	0.23	0.19	0.28	0.31
CBOE	Cboe Global Markets	Financial Exchanges & Data	0.16	0.12	0.21	0.25
MKTX	MarketAxess	Financial Exchanges & Data	0.16	0.15	0.24	0.28
VIRT	Virtu Financial, Inc.	Financial Exchanges & Data	0.09	0.18	0.21	0.12

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
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.44	0.48	0.54	0.54
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.41	0.48	0.49	0.45
FINX	Global X FinTech ETF	FinTech	SUB-IND	0.37	0.44	0.52	0.52
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.36	0.48	0.52	0.46
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.34	0.47	0.52	0.46
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.31	0.40	0.42	0.41
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.31	0.46	0.52	0.49
IAI	iShares Broker-Dealers & Exchanges	Capital Markets	INDUSTRY	0.30	0.47	0.52	0.49
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	0.28	0.36	0.48	0.50
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.14	0.35	0.40	0.37
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.12	0.32	0.37	0.35
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.06	0.32	0.40	0.37

NEXT STEPS

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Replacement research for MORN's peers

FDS SPGI MCO MSCI NDAQ ICE DFIN COIN CME CBOE MKTX VIRT

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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.