Tax-loss harvesting alternatives for MRNA

Among the 28 Biotechnology peers screened, VRTX (Vertex Pharmaceuticals) has tracked MRNA most closely over the past year, with a return correlation of 0.29. The strongest fund stand-in is IBB (iShares Biotechnology ETF) 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
VRTX	Vertex Pharmaceuticals	Biotechnology	0.29	0.22	0.21	0.18
KRYS	Krystal Biotech	Biotechnology	0.24	0.21	0.20	0.16
RGEN	Repligen	Biotechnology	0.23	0.22	0.27	0.23
AMGN	Amgen Inc.	Biotechnology	0.23	0.21	0.20	0.17
SRPT	Sarepta Therapeutics	Biotechnology	0.21	0.18	0.18	0.15
BIIB	Biogen Inc.	Biotechnology	0.21	0.25	0.21	0.16
XNCR	Xencor Inc	Biotechnology	0.21	0.24	0.26	0.21
VIR	Vir Biotechnology, Inc.	Biotechnology	0.21	0.21	0.27	0.27
REGN	Regeneron Pharmaceuticals	Biotechnology	0.20	0.21	0.23	0.23
GILD	Gilead Sciences	Biotechnology	0.20	0.17	0.19	0.20
ALNY	Alnylam Pharmaceuticals	Biotechnology	0.20	0.14	0.18	0.18
INCY	Incyte	Biotechnology	0.20	0.21	0.23	0.20
BMRN	BioMarin Pharmaceutical	Biotechnology	0.18	0.20	0.21	0.16
TGTX	TG Therapeutics, Inc.	Biotechnology	0.18	0.17	0.17	0.16
EXEL	Exelixis	Biotechnology	0.18	0.14	0.15	0.13
HALO	Halozyme	Biotechnology	0.16	0.14	0.16	0.15
RCUS	Arcus Biosciences, Inc.	Biotechnology	0.15	0.18	0.20	0.18
ARWR	Arrowhead Pharmaceuticals	Biotechnology	0.14	0.19	0.23	0.19
CYTK	Cytokinetics	Biotechnology	0.14	0.12	0.13	0.12
LGND	Ligand Pharmaceuticals, Inc.	Biotechnology	0.14	0.16	0.18	0.17
ADMA	ADMA Biologics, Inc.	Biotechnology	0.14	0.13	0.15	0.09
NBIX	Neurocrine Biosciences	Biotechnology	0.13	0.11	0.12	0.11
HRMY	Harmony Biosciences Holdings, Inc.	Biotechnology	0.12	0.11	0.11	0.09
FTRE	Fortrea	Biotechnology	0.11	0.14	0.14	—
ROIV	Roivant Sciences	Biotechnology	0.10	0.17	0.13	—
UTHR	United Therapeutics	Biotechnology	0.09	0.09	0.09	0.09
VCEL	Vericel	Biotechnology	0.08	0.13	0.17	0.13
PTGX	Protagonist Therapeutics, Inc.	Biotechnology	0.05	0.09	0.13	0.08

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
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.49	0.45	0.48	0.42
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.41	0.39	0.38	0.34
ARKG	ARK Genomic Revolution ETF	Genomics (Active)	INDUSTRY	0.40	0.38	0.39	0.35
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.36	0.32	0.33	0.25
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.36	0.32	0.33	0.26
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.35	0.32	0.33	0.26
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.34	0.30	0.31	0.24
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.31	0.28	0.28	0.22
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.28	0.25	0.26	0.22
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.25	0.27	0.28	0.23
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.19	0.19	0.23	0.20
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.08	0.11	0.13	0.09

NEXT STEPS

Harvesting a loss in MRNA?

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Replacement research for MRNA's peers

VRTX KRYS RGEN AMGN SRPT BIIB XNCR VIR REGN GILD ALNY INCY BMRN TGTX EXEL HALO RCUS ARWR CYTK LGND ADMA NBIX HRMY FTRE ROIV UTHR VCEL PTGX

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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.