Tax-loss harvesting alternatives for AIR

Among the 25 Aerospace & Defense peers screened, VSEC (VSE Corporation) has tracked AIR most closely over the past year, with a return correlation of 0.65. The strongest fund stand-in is XAR (SPDR S&P Aerospace & Defense) at 0.69 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
VSEC	VSE Corporation	Aerospace & Defense	0.65	0.53	0.51	0.50
MOG-A	Moog Inc.	Aerospace & Defense	0.64	0.60	0.62	0.70
CW	Curtiss-Wright	Aerospace & Defense	0.60	0.54	0.56	0.61
BWXT	BWX Technologies	Aerospace & Defense	0.60	0.46	0.45	0.42
HWM	Howmet Aerospace	Aerospace & Defense	0.59	0.50	0.58	0.56
ATI	ATI Inc.	Aerospace & Defense	0.57	0.49	0.52	0.54
SARO	StandardAero	Aerospace & Defense	0.56	0.53	—	—
HXL	Hexcel	Aerospace & Defense	0.52	0.50	0.56	0.62
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.43	0.45	0.45	0.40
TDG	TransDigm Group	Aerospace & Defense	0.43	0.42	0.50	0.63
RTX	RTX Corp.	Aerospace & Defense	0.42	0.34	0.42	0.58
TXT	Textron	Aerospace & Defense	0.41	0.45	0.51	0.56
KRMN	Karman Holdings	Aerospace & Defense	0.39	—	—	—
BA	Boeing Co.	Aerospace & Defense	0.38	0.36	0.42	0.54
HII	Huntington Ingalls Industries	Aerospace & Defense	0.33	0.31	0.35	0.40
GD	General Dynamics	Aerospace & Defense	0.32	0.35	0.41	0.51
LHX	L3Harris Technologies	Aerospace & Defense	0.32	0.35	0.34	0.37
NPK	National Presto Industries, Inc.	Aerospace & Defense	0.31	0.34	0.37	0.34
VVX	V2X, Inc.	Aerospace & Defense	0.27	0.33	0.33	0.33
LMT	Lockheed Martin	Aerospace & Defense	0.25	0.21	0.26	0.32
AVAV	AeroVironment	Aerospace & Defense	0.24	0.25	0.27	0.31
NOC	Northrop Grumman	Aerospace & Defense	0.23	0.19	0.24	0.28
PSN	Parsons Corporation	Aerospace & Defense	0.22	0.26	0.32	0.40
AXON	Axon Enterprise	Aerospace & Defense	0.14	0.21	0.23	0.27
HONA	Honeywell Aerospace	Aerospace & Defense	—	—	—	—

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
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.69	0.65	0.68	0.70
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.69	0.65	0.66	0.67
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.69	0.64	0.65	0.65
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.68	0.63	0.64	0.64
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.67	0.61	0.65	0.69
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.66	0.62	0.62	0.63
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.66	0.63	0.66	0.68
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.64	0.62	0.64	0.67
JETS	US Global Jets ETF	Airlines	SUB-IND	0.57	0.51	0.54	0.60
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.51	0.52	0.55	0.59
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.50	0.49	0.52	0.57
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.48	0.48	0.49	0.47

NEXT STEPS

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Replacement research for AIR's peers

VSEC MOG-A CW BWXT HWM ATI SARO HXL KTOS TDG RTX TXT KRMN BA HII GD LHX NPK VVX LMT AVAV NOC PSN AXON HONA

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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.