Tax-loss harvesting alternatives for EAT

Among the 17 Restaurants peers screened, CAKE (The Cheesecake Factory, Inc.) has tracked EAT most closely over the past year, with a return correlation of 0.51. The strongest fund stand-in is PEJ (Invesco Leisure & Entertainment) at 0.42 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
CAKE	The Cheesecake Factory, Inc.	Restaurants	0.51	0.60	0.67	0.65
DRI	Darden Restaurants	Restaurants	0.47	0.50	0.59	0.69
BJRI	BJ's Restaurants, Inc.	Restaurants	0.44	0.46	0.58	0.67
CMG	Chipotle Mexican Grill	Restaurants	0.39	0.33	0.39	0.38
TXRH	Texas Roadhouse	Restaurants	0.38	0.49	0.59	0.62
BROS	Dutch Bros Inc.	Restaurants	0.38	0.29	0.30	—
SBUX	Starbucks Corp.	Restaurants	0.36	0.33	0.37	0.43
CAVA	Cava Group	Restaurants	0.35	0.37	0.36	—
CBRL	Cracker Barrel	Restaurants	0.34	0.39	0.48	0.60
WING	Wingstop Inc.	Restaurants	0.32	0.29	0.36	0.34
SHAK	Shake Shack, Inc.	Restaurants	0.32	0.41	0.47	0.46
QSR	Restaurant Brands Intl	Restaurants	0.25	0.25	0.33	0.44
YUM	Yum! Brands	Restaurants	0.23	0.18	0.29	0.42
PZZA	Papa John's Pizza	Restaurants	0.16	0.21	0.29	0.31
MCD	McDonald's Corp.	Restaurants	0.16	0.15	0.22	0.38
DPZ	Domino's Pizza	Restaurants	0.13	0.24	0.28	0.23
WEN	The Wendy's Company	Restaurants	0.12	0.17	0.27	0.45

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
PEJ	Invesco Leisure & Entertainment	Leisure & Entertainment	INDUSTRY	0.42	0.52	0.59	0.64
XRT	SPDR S&P Retail ETF	Retail	INDUSTRY	0.31	0.43	0.52	0.51
IYC	iShares US Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.29	0.42	0.52	0.53
FDIS	Fidelity MSCI Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.25	0.40	0.50	0.51
VCR	Vanguard Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.25	0.40	0.50	0.52
RTH	VanEck Retail ETF	Retail	INDUSTRY	0.24	0.33	0.43	0.42
XHB	SPDR S&P Homebuilders ETF	Homebuilders	SUB-IND	0.24	0.30	0.42	0.51
XLY	Consumer Discretionary SPDR	Cons Discretionary Sector	SECTOR	0.23	0.38	0.48	0.50
BETZ	Roundhill Sports Betting iGaming	Sports Betting	SUB-IND	0.21	0.33	0.45	0.45
ITB	iShares US Home Construction	Homebuilders	SUB-IND	0.21	0.27	0.38	0.48
DRIV	Global X Autonomous & EV ETF	Autonomous & EV	INDUSTRY	0.17	0.28	0.40	0.46
CARZ	First Trust S-Network EV & FV	Autos & EVs	INDUSTRY	0.14	0.25	0.37	0.43

NEXT STEPS

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Replacement research for EAT's peers

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

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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.