Tax-loss harvesting alternatives for XME

The closest fund alternative to XME (Metals & Mining) is IYM (iShares US Basic Materials ETF), with a return correlation of 0.80 over the past year. Among single names in the fund's slice of the market, CDE (Coeur Mining) tracks it most closely at 0.76 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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ETFS

Fund stand-ins

Funds covering similar ground. Two funds tracking the same index may themselves be 'substantially identical' for wash-sale purposes.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
IYM	iShares US Basic Materials ETF	Materials Sector	SECTOR	0.80	0.80	0.84	0.83
COPX	Global X Copper Miners ETF	Copper Miners	SUB-IND	0.80	0.76	0.78	0.77
SLX	VanEck Steel ETF	Steel	SUB-IND	0.76	0.81	0.84	0.87
GDX	VanEck Gold Miners ETF	Gold Miners	SUB-IND	0.75	0.65	0.62	0.52
RING	iShares MSCI Global Gold Miners	Gold Miners	SUB-IND	0.75	0.65	0.61	0.52
FMAT	Fidelity MSCI Materials ETF	Materials Sector	SECTOR	0.73	0.76	0.79	0.81
VAW	Vanguard Materials ETF	Materials Sector	SECTOR	0.72	0.76	0.79	0.80
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.62	0.70	0.73	0.78
XLB	Materials Select Sector SPDR	Materials Sector	SECTOR	0.62	0.69	0.74	0.76
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.60	0.61	0.63	0.65
IVV	iShares Core S&P 500	S&P 500	BROAD	0.59	0.61	0.63	0.65
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.59	0.61	0.63	0.65

STOCKS

Single-name peers

Single names inside the fund's slice of the market.

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
CDE	Coeur Mining	Gold	0.76	0.66	0.64	0.59
FCX	Freeport-McMoRan	Copper	0.74	0.75	0.78	0.77
NEM	Newmont Corp.	Gold	0.71	0.60	0.54	0.48
MP	MP Materials	Diversified Metals & Mining	0.70	0.57	0.58	0.52
AA	Alcoa	Aluminum	0.66	0.69	0.73	0.75
CENX	Century Aluminum Company	Aluminum	0.59	0.63	0.69	0.67
CLF	Cleveland-Cliffs	Steel	0.59	0.62	0.67	0.71
KALU	Kaiser Aluminum Corporation	Aluminum	0.58	0.63	0.65	0.69
MTRN	Materion Corp.	Diversified Metals & Mining	0.51	0.55	0.54	0.57
CMC	Commercial Metals	Steel	0.50	0.61	0.67	0.73
AMR	Alpha Metallurgical Resources, Inc.	Steel	0.50	0.53	0.58	—
HCC	Warrior Met Coal, Inc.	Steel	0.48	0.55	0.58	0.58
NUE	Nucor Corp.	Steel	0.41	0.57	0.64	0.71
MTUS	Metallus Inc	Steel	0.40	0.53	0.64	0.62

NEXT STEPS

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Replacement research for XME's peers

CDE FCX NEM MP AA CENX CLF KALU MTRN CMC AMR HCC NUE MTUS

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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.