Tax-loss harvesting alternatives for TOL

Among the 14 Homebuilding peers screened, PHM (PulteGroup Inc.) has tracked TOL most closely over the past year, with a return correlation of 0.89. The strongest fund stand-in is ITB (iShares US Home Construction) at 0.91 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
PHM	PulteGroup Inc.	Homebuilding	0.89	0.91	0.91	0.86
DHI	D.R. Horton	Homebuilding	0.85	0.86	0.88	0.81
MTH	Meritage Homes Corporation	Homebuilding	0.84	0.85	0.86	0.82
MHO	M/I Homes, Inc.	Homebuilding	0.81	0.84	0.85	0.79
GRBK	Green Brick Partners, Inc.	Homebuilding	0.81	0.82	0.77	0.63
KBH	KB Home	Homebuilding	0.81	0.86	0.86	0.85
LEN	Lennar Corp.	Homebuilding	0.78	0.84	0.87	0.83
CCS	Century Communities, Inc.	Homebuilding	0.75	0.81	0.84	0.78
LGIH	LGI Homes	Homebuilding	0.72	0.76	0.78	0.70
NVR	NVR Inc.	Homebuilding	0.71	0.79	0.82	0.77
DFH	Dream Finders Homes, Inc.	Homebuilding	0.70	0.73	0.68	—
IBP	Installed Building Products, Inc.	Homebuilding	0.69	0.73	0.74	0.69
SKY	Champion Homes, Inc.	Homebuilding	0.67	0.64	0.67	0.51
CVCO	Cavco Industries, Inc.	Homebuilding	0.66	0.66	0.68	0.59

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
ITB	iShares US Home Construction	Homebuilders	SUB-IND	0.91	0.93	0.93	0.89
XHB	SPDR S&P Homebuilders ETF	Homebuilders	SUB-IND	0.90	0.90	0.90	0.85
IYC	iShares US Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.63	0.58	0.63	0.59
XRT	SPDR S&P Retail ETF	Retail	INDUSTRY	0.62	0.63	0.65	0.58
FDIS	Fidelity MSCI Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.61	0.59	0.64	0.59
VCR	Vanguard Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.60	0.59	0.63	0.60
PEJ	Invesco Leisure & Entertainment	Leisure & Entertainment	INDUSTRY	0.60	0.54	0.58	0.58
XLY	Consumer Discretionary SPDR	Cons Discretionary Sector	SECTOR	0.57	0.56	0.61	0.58
RTH	VanEck Retail ETF	Retail	INDUSTRY	0.50	0.51	0.57	0.50
DRIV	Global X Autonomous & EV ETF	Autonomous & EV	INDUSTRY	0.38	0.47	0.55	0.54
CARZ	First Trust S-Network EV & FV	Autos & EVs	INDUSTRY	0.36	0.40	0.49	0.49
BETZ	Roundhill Sports Betting iGaming	Sports Betting	SUB-IND	0.33	0.43	0.50	0.47

NEXT STEPS

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Replacement research for TOL's peers

PHM DHI MTH MHO GRBK KBH LEN CCS LGIH NVR DFH IBP SKY CVCO

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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.