Tax-loss harvesting alternatives for WING

Among the 17 Restaurants peers screened, CMG (Chipotle Mexican Grill) has tracked WING most closely over the past year, with a return correlation of 0.45. The strongest fund stand-in is XRT (SPDR S&P Retail ETF) at 0.39 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
CMG	Chipotle Mexican Grill	Restaurants	0.45	0.46	0.47	0.41
BROS	Dutch Bros Inc.	Restaurants	0.42	0.33	0.34	—
CAKE	The Cheesecake Factory, Inc.	Restaurants	0.41	0.33	0.38	0.28
CAVA	Cava Group	Restaurants	0.40	0.40	0.38	—
BJRI	BJ's Restaurants, Inc.	Restaurants	0.39	0.31	0.35	0.33
SHAK	Shake Shack, Inc.	Restaurants	0.37	0.33	0.39	0.38
DRI	Darden Restaurants	Restaurants	0.35	0.31	0.38	0.35
CBRL	Cracker Barrel	Restaurants	0.32	0.21	0.27	0.30
EAT	Brinker International, Inc.	Restaurants	0.32	0.29	0.36	0.34
TXRH	Texas Roadhouse	Restaurants	0.28	0.35	0.41	0.36
SBUX	Starbucks Corp.	Restaurants	0.24	0.18	0.28	0.31
WEN	The Wendy's Company	Restaurants	0.21	0.18	0.24	0.33
QSR	Restaurant Brands Intl	Restaurants	0.21	0.22	0.28	0.30
DPZ	Domino's Pizza	Restaurants	0.19	0.27	0.31	0.32
YUM	Yum! Brands	Restaurants	0.18	0.22	0.30	0.32
MCD	McDonald's Corp.	Restaurants	0.15	0.16	0.23	0.28
PZZA	Papa John's Pizza	Restaurants	0.12	0.20	0.30	0.33

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
XRT	SPDR S&P Retail ETF	Retail	INDUSTRY	0.39	0.31	0.41	0.38
PEJ	Invesco Leisure & Entertainment	Leisure & Entertainment	INDUSTRY	0.35	0.37	0.42	0.40
IYC	iShares US Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.35	0.37	0.47	0.45
VCR	Vanguard Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.33	0.35	0.45	0.46
FDIS	Fidelity MSCI Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.32	0.35	0.45	0.46
XLY	Consumer Discretionary SPDR	Cons Discretionary Sector	SECTOR	0.29	0.33	0.44	0.44
XHB	SPDR S&P Homebuilders ETF	Homebuilders	SUB-IND	0.27	0.27	0.38	0.39
ITB	iShares US Home Construction	Homebuilders	SUB-IND	0.27	0.25	0.35	0.37
BETZ	Roundhill Sports Betting iGaming	Sports Betting	SUB-IND	0.26	0.30	0.40	0.39
RTH	VanEck Retail ETF	Retail	INDUSTRY	0.23	0.32	0.41	0.41
DRIV	Global X Autonomous & EV ETF	Autonomous & EV	INDUSTRY	0.13	0.22	0.34	0.34
CARZ	First Trust S-Network EV & FV	Autos & EVs	INDUSTRY	0.09	0.20	0.31	0.31

NEXT STEPS

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Replacement research for WING's peers

CMG BROS CAKE CAVA BJRI SHAK DRI CBRL EAT TXRH SBUX WEN QSR DPZ YUM MCD PZZA

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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.