Tax-loss harvesting alternatives for PPA

The closest fund alternative to PPA (Aerospace & Defense) is ITA (iShares Aerospace & Defense ETF), with a return correlation of 0.97 over the past year. Among single names in the fund's slice of the market, CW (Curtiss-Wright) tracks it most closely at 0.76 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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ETFS

Fund stand-ins

Funds covering similar ground. Two funds tracking the same index may themselves be 'substantially identical' for wash-sale purposes.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.97	0.96	0.97	0.97
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.96	0.95	0.95	0.96
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.81	0.84	0.86	0.91
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.80	0.84	0.86	0.91
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.80	0.85	0.86	0.91
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.77	0.81	0.82	0.89
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.68	0.74	0.78	0.83
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.61	0.69	0.73	0.79
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.59	0.65	0.65	0.68
JETS	US Global Jets ETF	Airlines	SUB-IND	0.51	0.56	0.59	0.68
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.47	0.57	0.62	0.74
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.45	0.56	0.62	0.72

STOCKS

Single-name peers

Single names inside the fund's slice of the market.

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
CW	Curtiss-Wright	Aerospace & Defense	0.76	0.76	0.75	0.81
BWXT	BWX Technologies	Aerospace & Defense	0.73	0.66	0.65	0.60
HWM	Howmet Aerospace	Aerospace & Defense	0.71	0.69	0.73	0.71
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.70	0.64	0.62	0.59
AIR	AAR Corp.	Aerospace & Defense	0.66	0.63	0.66	0.68
KRMN	Karman Holdings	Aerospace & Defense	0.64	—	—	—
HII	Huntington Ingalls Industries	Aerospace & Defense	0.62	0.53	0.57	0.65
BA	Boeing Co.	Aerospace & Defense	0.62	0.59	0.63	0.73
GD	General Dynamics	Aerospace & Defense	0.61	0.64	0.70	0.79
ATI	ATI Inc.	Aerospace & Defense	0.61	0.60	0.59	0.61
HXL	Hexcel	Aerospace & Defense	0.58	0.61	0.66	0.72
AVAV	AeroVironment	Aerospace & Defense	0.56	0.48	0.48	0.46
AXON	Axon Enterprise	Aerospace & Defense	0.37	0.44	0.44	0.42
HONA	Honeywell Aerospace	Aerospace & Defense	—	—	—	—

NEXT STEPS

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Replacement research for PPA's peers

CW BWXT HWM KTOS AIR KRMN HII BA GD ATI HXL AVAV AXON HONA

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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.