Tax-loss harvesting alternatives for AORT

Among the 33 Health Care Equipment peers screened, STE (Steris) has tracked AORT most closely over the past year, with a return correlation of 0.37. The strongest fund stand-in is XHE (SPDR S&P Health Care Equipment) at 0.46 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
STE	Steris	Health Care Equipment	0.37	0.35	0.38	0.39
BDX	Becton Dickinson	Health Care Equipment	0.37	0.30	0.31	0.30
MDT	Medtronic plc	Health Care Equipment	0.37	0.33	0.37	0.38
SYK	Stryker Corp.	Health Care Equipment	0.35	0.32	0.37	0.37
LMAT	LeMaitre Vascular	Health Care Equipment	0.35	0.34	0.38	0.39
ENOV	Enovis	Health Care Equipment	0.35	0.33	0.34	0.34
PODD	Insulet Corporation	Health Care Equipment	0.34	0.34	0.35	0.29
CNMD	CONMED Corporation	Health Care Equipment	0.34	0.31	0.37	0.35
EW	Edwards Lifesciences	Health Care Equipment	0.34	0.26	0.31	0.33
ABT	Abbott Laboratories	Health Care Equipment	0.32	0.28	0.33	0.35
ISRG	Intuitive Surgical	Health Care Equipment	0.30	0.31	0.37	0.38
BSX	Boston Scientific	Health Care Equipment	0.30	0.31	0.34	0.37
TMDX	TransMedics Group, Inc.	Health Care Equipment	0.30	0.23	0.27	0.26
TNDM	Tandem Diabetes Care	Health Care Equipment	0.27	0.24	0.26	0.21
IDXX	Idexx Laboratories	Health Care Equipment	0.25	0.27	0.33	0.32
ZBH	Zimmer Biomet	Health Care Equipment	0.22	0.23	0.31	0.31
INSP	Inspire Medical Systems, Inc.	Health Care Equipment	0.22	0.22	0.28	0.27
AHCO	AdaptHealth Corp.	Health Care Equipment	0.22	0.17	0.21	0.14
LIVN	LivaNova	Health Care Equipment	0.21	0.28	0.32	0.33
GMED	Globus Medical	Health Care Equipment	0.21	0.28	0.34	0.35
RMD	ResMed\|	Health Care Equipment	0.21	0.25	0.28	0.30
TFX	Teleflex	Health Care Equipment	0.19	0.23	0.33	0.33
GKOS	Glaukos Corp.	Health Care Equipment	0.18	0.24	0.32	0.31
RVTY	Revvity	Health Care Equipment	0.18	0.21	0.26	0.27
PEN	Penumbra, Inc.	Health Care Equipment	0.17	0.21	0.29	0.30
GEHC	GE HealthCare	Health Care Equipment	0.17	0.24	0.23	—
BAX	Baxter International	Health Care Equipment	0.17	0.20	0.23	0.29
DXCM	Dexcom	Health Care Equipment	0.16	0.20	0.28	0.24
BRKR	Bruker	Health Care Equipment	0.15	0.20	0.24	0.29
ITGR	Integer Holdings Corporation	Health Care Equipment	0.11	0.23	0.32	0.39
STAA	STAAR Surgical Company	Health Care Equipment	0.11	0.18	0.28	0.29
IART	Integra Lifesciences Holdings	Health Care Equipment	0.11	0.19	0.24	0.28
UFPT	UFP Technologies, Inc.	Health Care Equipment	0.10	0.23	0.28	0.25

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
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.46	0.49	0.54	0.53
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.45	0.46	0.49	0.48
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.25	0.29	0.37	0.42
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.25	0.29	0.37	0.42
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.24	0.27	0.35	0.40
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.24	0.26	0.33	0.39
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.22	0.30	0.39	0.40
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.17	0.20	0.28	0.35
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.17	0.17	0.26	0.34
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.16	0.24	0.34	0.37
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.13	0.24	0.35	0.36
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.08	0.19	0.28	0.35

NEXT STEPS

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Replacement research for AORT's peers

STE BDX MDT SYK LMAT ENOV PODD CNMD EW ABT ISRG BSX TMDX TNDM IDXX ZBH INSP AHCO LIVN GMED RMD TFX GKOS RVTY PEN GEHC BAX DXCM BRKR ITGR STAA IART UFPT

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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.