Tax-loss harvesting alternatives for UPWK

Among the 9 Human Resource & Employment Services peers screened, ADP (Automatic Data Processing) has tracked UPWK most closely over the past year, with a return correlation of 0.41. The strongest fund stand-in is XTN (SPDR S&P Transportation ETF) at 0.21 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
ADP	Automatic Data Processing	Human Resource & Employment Services	0.41	0.32	0.33	0.24
PCTY	Paylocity	Human Resource & Employment Services	0.38	0.31	0.43	0.36
PAYX	Paychex Inc.	Human Resource & Employment Services	0.36	0.28	0.32	0.21
KFY	Korn/Ferry International	Human Resource & Employment Services	0.35	0.30	0.32	0.25
PAYC	Paycom	Human Resource & Employment Services	0.34	0.29	0.40	0.33
FA	First Advantage Corporation	Human Resource & Employment Services	0.34	0.28	0.30	—
MAN	ManpowerGroup	Human Resource & Employment Services	0.31	0.24	0.28	0.21
RHI	Robert Half	Human Resource & Employment Services	0.28	0.29	0.32	0.25
NSP	Insperity	Human Resource & Employment Services	0.27	0.23	0.23	0.23

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
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.21	0.30	0.38	0.33
JETS	US Global Jets ETF	Airlines	SUB-IND	0.20	0.28	0.34	0.28
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.19	0.30	0.37	0.30
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.16	0.22	0.28	0.23
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.16	0.22	0.32	0.28
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.15	0.19	0.26	0.22
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.14	0.29	0.38	0.31
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.10	0.26	0.41	0.38
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.07	0.25	0.33	0.28
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.06	0.25	0.33	0.27
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.05	0.24	0.31	0.25
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.01	0.24	0.31	0.27

NEXT STEPS

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Replacement research for UPWK's peers

ADP PCTY PAYX KFY PAYC FA MAN RHI NSP

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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.