Tax-loss harvesting alternatives for WM

Among the 9 Environmental & Facilities Services peers screened, RSG (Republic Services) has tracked WM most closely over the past year, with a return correlation of 0.82. The strongest fund stand-in is IYT (iShares Transportation Average) at 0.03 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
RSG	Republic Services	Environmental & Facilities Services	0.82	0.81	0.84	0.86
WCN	Waste Connections	Environmental & Facilities Services	0.73	0.71	0.73	0.73
CWST	Casella Waste Systems, Inc.	Environmental & Facilities Services	0.51	0.51	0.55	0.55
VLTO	Veralto	Environmental & Facilities Services	0.44	0.30	—	—
ROL	Rollins, Inc.	Environmental & Facilities Services	0.42	0.47	0.46	0.49
CLH	Clean Harbors	Environmental & Facilities Services	0.31	0.33	0.38	0.45
ABM	ABM Industries, Inc.	Environmental & Facilities Services	0.31	0.23	0.27	0.38
HCSG	Healthcare Services Group, Inc.	Environmental & Facilities Services	0.07	0.04	0.13	0.24
GEO	GEO Group, Inc.	Environmental & Facilities Services	0.03	0.07	0.10	0.22

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
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.03	0.11	0.22	0.43
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	-0.00	0.19	0.33	0.53
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	-0.04	0.18	0.33	0.53
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	-0.04	0.05	0.15	0.35
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	-0.07	0.15	0.31	0.51
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	-0.07	0.15	0.30	0.51
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	-0.08	0.15	0.29	0.48
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	-0.08	0.13	0.26	0.44
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	-0.09	0.09	0.26	0.45
JETS	US Global Jets ETF	Airlines	SUB-IND	-0.12	0.01	0.08	0.27
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	-0.15	0.06	0.20	0.40
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	-0.37	-0.06	0.11	0.30

NEXT STEPS

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Replacement research for WM's peers

RSG WCN CWST VLTO ROL CLH ABM HCSG GEO

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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.