Tax-loss harvesting alternatives for SARO

Among the 25 Aerospace & Defense peers screened, HWM (Howmet Aerospace) has tracked SARO most closely over the past year, with a return correlation of 0.60. The strongest fund stand-in is ITA (iShares Aerospace & Defense ETF) at 0.73 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
HWM	Howmet Aerospace	Aerospace & Defense	0.60	0.57	—	—
VSEC	VSE Corporation	Aerospace & Defense	0.59	0.52	—	—
AIR	AAR Corp.	Aerospace & Defense	0.56	0.53	—	—
CW	Curtiss-Wright	Aerospace & Defense	0.55	0.55	—	—
RTX	RTX Corp.	Aerospace & Defense	0.50	0.48	—	—
ATI	ATI Inc.	Aerospace & Defense	0.50	0.48	—	—
BWXT	BWX Technologies	Aerospace & Defense	0.49	0.43	—	—
BA	Boeing Co.	Aerospace & Defense	0.47	0.47	—	—
HXL	Hexcel	Aerospace & Defense	0.46	0.47	—	—
TDG	TransDigm Group	Aerospace & Defense	0.45	0.47	—	—
MOG-A	Moog Inc.	Aerospace & Defense	0.44	0.46	—	—
TXT	Textron	Aerospace & Defense	0.41	0.44	—	—
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.40	0.39	—	—
GD	General Dynamics	Aerospace & Defense	0.40	0.39	—	—
LHX	L3Harris Technologies	Aerospace & Defense	0.39	0.36	—	—
HII	Huntington Ingalls Industries	Aerospace & Defense	0.38	0.33	—	—
KRMN	Karman Holdings	Aerospace & Defense	0.35	—	—	—
VVX	V2X, Inc.	Aerospace & Defense	0.32	0.34	—	—
NOC	Northrop Grumman	Aerospace & Defense	0.32	0.23	—	—
AVAV	AeroVironment	Aerospace & Defense	0.31	0.31	—	—
PSN	Parsons Corporation	Aerospace & Defense	0.29	0.26	—	—
AXON	Axon Enterprise	Aerospace & Defense	0.28	0.30	—	—
NPK	National Presto Industries, Inc.	Aerospace & Defense	0.27	0.29	—	—
LMT	Lockheed Martin	Aerospace & Defense	0.26	0.26	—	—
HONA	Honeywell Aerospace	Aerospace & Defense	—	—	—	—

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
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.73	0.71	—	—
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.70	0.68	—	—
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.68	0.66	—	—
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.63	0.61	—	—
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.63	0.62	—	—
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.63	0.62	—	—
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.62	0.62	—	—
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.54	0.55	—	—
JETS	US Global Jets ETF	Airlines	SUB-IND	0.51	0.50	—	—
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.44	0.48	—	—
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.37	0.41	—	—
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.37	0.41	—	—

NEXT STEPS

Harvesting a loss in SARO?

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Replacement research for SARO's peers

HWM VSEC AIR CW RTX ATI BWXT BA HXL TDG MOG-A TXT KTOS GD LHX HII KRMN VVX NOC AVAV PSN AXON NPK LMT 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.