Tax-loss harvesting alternatives for SLX

The closest fund alternative to SLX (Steel) is IYM (iShares US Basic Materials ETF), with a return correlation of 0.80 over the past year. Among single names in the fund's slice of the market, CMC (Commercial Metals) tracks it most closely at 0.70 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
IYM	iShares US Basic Materials ETF	Materials Sector	SECTOR	0.80	0.82	0.83	0.83
COPX	Global X Copper Miners ETF	Copper Miners	SUB-IND	0.77	0.72	0.75	0.78
FMAT	Fidelity MSCI Materials ETF	Materials Sector	SECTOR	0.76	0.81	0.81	0.82
VAW	Vanguard Materials ETF	Materials Sector	SECTOR	0.76	0.80	0.80	0.82
XME	SPDR S&P Metals & Mining ETF	Metals & Mining	INDUSTRY	0.76	0.81	0.84	0.87
XLB	Materials Select Sector SPDR	Materials Sector	SECTOR	0.71	0.77	0.77	0.79
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.71	0.76	0.75	0.81
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.68	0.68	0.64	0.69
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.67	0.68	0.63	0.69
IVV	iShares Core S&P 500	S&P 500	BROAD	0.67	0.67	0.63	0.69
GDX	VanEck Gold Miners ETF	Gold Miners	SUB-IND	0.59	0.45	0.45	0.32
RING	iShares MSCI Global Gold Miners	Gold Miners	SUB-IND	0.59	0.44	0.43	0.32

STOCKS

Single-name peers

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

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
CMC	Commercial Metals	Steel	0.70	0.75	0.74	0.76
STLD	Steel Dynamics	Steel	0.68	0.74	0.76	0.79
NUE	Nucor Corp.	Steel	0.65	0.73	0.75	0.78
RS	Reliance, Inc.	Steel	0.62	0.67	0.68	0.74
CLF	Cleveland-Cliffs	Steel	0.60	0.67	0.71	0.74
WS	Worthington Steel	Steel	0.58	0.56	—	—
MTUS	Metallus Inc	Steel	0.52	0.64	0.69	0.64
AMR	Alpha Metallurgical Resources, Inc.	Steel	0.34	0.42	0.46	—
HCC	Warrior Met Coal, Inc.	Steel	0.33	0.45	0.47	0.51

NEXT STEPS

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Replacement research for SLX's peers

CMC STLD NUE RS CLF WS MTUS AMR HCC

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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.