Tax-loss harvesting alternatives for SPHR

Among the 11 Movies & Entertainment peers screened, MSGS (Madison Square Garden Sports Corp.) has tracked SPHR most closely over the past year, with a return correlation of 0.31. The strongest fund stand-in is SPY (SPDR S&P 500 ETF) at 0.32 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
MSGS	Madison Square Garden Sports Corp.	Movies & Entertainment	0.31	0.37	0.43	0.44
LYV	Live Nation Entertainment	Movies & Entertainment	0.29	0.35	0.38	0.39
ROKU	Roku Inc.	Movies & Entertainment	0.23	0.32	0.32	0.25
TKO	TKO Group Holdings	Movies & Entertainment	0.22	0.19	0.20	0.20
WBD	Warner Bros. Discovery	Movies & Entertainment	0.15	0.33	0.33	0.33
DIS	Walt Disney Co.	Movies & Entertainment	0.14	0.30	0.35	0.35
CNK	Cinemark Holdings, Inc.	Movies & Entertainment	0.14	0.17	0.27	0.29
WMG	Warner Music Group	Movies & Entertainment	0.13	0.20	0.24	0.23
PSKY	Paramount Skydance	Movies & Entertainment	0.08	0.16	0.22	0.21
NFLX	Netflix Inc.	Movies & Entertainment	0.05	0.13	0.19	0.13
SPOT	Spotify Technology	Movies & Entertainment	0.03	0.16	0.24	0.20

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
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.32	0.45	0.43	0.39
IVV	iShares Core S&P 500	S&P 500	BROAD	0.32	0.45	0.43	0.39
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.32	0.45	0.43	0.39
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.29	0.41	0.41	0.34
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.29	0.41	0.41	—
FCOM	Fidelity MSCI Communication Services	Comm Services Sector	SECTOR	0.27	0.40	0.41	0.37
ESPO	VanEck Video Gaming & eSports	Gaming & Esports	SUB-IND	0.27	0.34	0.36	0.29
VOX	Vanguard Communication Services	Comm Services Sector	SECTOR	0.27	0.39	0.40	0.37
SOCL	Global X Social Media ETF	Social Media	SUB-IND	0.25	0.35	0.35	0.30
XLC	Communication Services SPDR	Comm Services Sector	SECTOR	0.24	0.38	0.38	0.34
HERO	Global X Video Games & Esports	Gaming & Esports	SUB-IND	0.24	0.29	0.33	0.26
IYZ	iShares US Telecommunications ETF	Telecom	INDUSTRY	0.21	0.32	0.36	0.34

NEXT STEPS

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Replacement research for SPHR's peers

MSGS LYV ROKU TKO WBD DIS CNK WMG PSKY NFLX SPOT

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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.