Tax-loss harvesting alternatives for USLM

Among the 5 Construction Materials peers screened, MLM (Martin Marietta Materials) has tracked USLM most closely over the past year, with a return correlation of 0.38. The strongest fund stand-in is VAW (Vanguard Materials ETF) at 0.44 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
MLM	Martin Marietta Materials	Construction Materials	0.38	0.42	0.42	0.41
VMC	Vulcan Materials Company	Construction Materials	0.35	0.42	0.43	0.40
EXP	Eagle Materials	Construction Materials	0.35	0.46	0.46	0.48
CRH	CRH plc	Construction Materials	0.32	0.42	0.40	0.42
KNF	Knife River Corporation	Construction Materials	0.21	0.37	0.36	—

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
VAW	Vanguard Materials ETF	Materials Sector	SECTOR	0.44	0.48	0.45	0.49
FMAT	Fidelity MSCI Materials ETF	Materials Sector	SECTOR	0.43	0.48	0.45	0.50
XLB	Materials Select Sector SPDR	Materials Sector	SECTOR	0.40	0.44	0.42	0.47
IYM	iShares US Basic Materials ETF	Materials Sector	SECTOR	0.40	0.43	0.41	0.46
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.36	0.47	0.43	0.48
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.36	0.47	0.44	0.47
RING	iShares MSCI Global Gold Miners	Gold Miners	SUB-IND	0.33	0.22	0.19	0.14
GDX	VanEck Gold Miners ETF	Gold Miners	SUB-IND	0.33	0.21	0.19	0.13
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.33	0.52	0.50	0.52
COPX	Global X Copper Miners ETF	Copper Miners	SUB-IND	0.31	0.29	0.29	0.35
XME	SPDR S&P Metals & Mining ETF	Metals & Mining	INDUSTRY	0.31	0.40	0.38	0.42
SLX	VanEck Steel ETF	Steel	SUB-IND	0.28	0.42	0.37	0.41

NEXT STEPS

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Replacement research for USLM's peers

MLM VMC EXP CRH KNF

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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.