Tax-loss harvesting alternatives for MSM

Among the 9 Trading Companies & Distributors peers screened, AIT (Applied Industrial Technologies) has tracked MSM most closely over the past year, with a return correlation of 0.59. The strongest fund stand-in is PAVE (Global X US Infrastructure) at 0.53 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
AIT	Applied Industrial Technologies	Trading Companies & Distributors	0.59	0.64	0.62	0.60
FAST	Fastenal	Trading Companies & Distributors	0.51	0.58	0.62	0.64
WCC	WESCO International	Trading Companies & Distributors	0.44	0.50	0.52	0.53
CNM	Core & Main	Trading Companies & Distributors	0.44	0.43	0.44	—
WSO	Watsco	Trading Companies & Distributors	0.41	0.49	0.53	0.48
URI	United Rentals	Trading Companies & Distributors	0.30	0.46	0.50	0.54
DXPE	DXP Enterprises, Inc.	Trading Companies & Distributors	0.29	0.34	0.34	0.39
DNOW	NOW Inc	Trading Companies & Distributors	0.26	0.38	0.42	0.43
REZI	Resideo Technologies, Inc.	Trading Companies & Distributors	0.24	0.39	0.43	0.36

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
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.53	0.63	0.66	0.67
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.52	0.61	0.64	0.63
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.51	0.61	0.65	0.64
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.51	0.61	0.65	0.65
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.51	0.61	0.65	0.65
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.44	0.57	0.57	0.59
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.44	0.56	0.58	0.60
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.32	0.44	0.50	0.54
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.30	0.40	0.46	0.52
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.30	0.39	0.45	0.50
JETS	US Global Jets ETF	Airlines	SUB-IND	0.29	0.43	0.44	0.46
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.27	0.39	0.43	0.45

NEXT STEPS

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Replacement research for MSM's peers

AIT FAST WCC CNM WSO URI DXPE DNOW REZI

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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.