Tax-loss harvesting alternatives for GTM

Among the 12 Interactive Media & Services peers screened, YELP (Yelp, Inc.) has tracked GTM most closely over the past year, with a return correlation of 0.45. The strongest fund stand-in is SOCL (Global X Social Media ETF) at 0.33 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
YELP	Yelp, Inc.	Interactive Media & Services	0.45	0.40	0.47	0.36
CARG	CarGurus	Interactive Media & Services	0.40	0.36	0.39	0.35
MTCH	Match Group	Interactive Media & Services	0.38	0.34	0.42	0.38
QNST	QuinStreet, Inc.	Interactive Media & Services	0.35	0.27	0.26	0.25
PINS	Pinterest Inc.	Interactive Media & Services	0.33	0.28	0.39	0.36
SNAP	Snap Inc.	Interactive Media & Services	0.31	0.28	0.37	0.35
PPLI	People Inc.	Interactive Media & Services	0.29	0.36	0.41	0.39
TRIP	TripAdvisor	Interactive Media & Services	0.26	0.35	0.39	0.31
RDDT	Reddit Inc.	Interactive Media & Services	0.22	0.20	—	—
GOOGL	Alphabet Inc.	Interactive Media & Services	0.16	0.24	0.37	0.34
GOOG	Alphabet Inc. (Class C)	Interactive Media & Services	0.16	0.24	0.37	0.34
META	Meta Platforms	Interactive Media & Services	0.10	0.18	0.31	0.30

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
SOCL	Global X Social Media ETF	Social Media	SUB-IND	0.33	0.37	0.47	0.45
ESPO	VanEck Video Gaming & eSports	Gaming & Esports	SUB-IND	0.32	0.35	0.47	0.46
XLC	Communication Services SPDR	Comm Services Sector	SECTOR	0.31	0.36	0.47	0.44
VOX	Vanguard Communication Services	Comm Services Sector	SECTOR	0.27	0.37	0.49	0.46
HERO	Global X Video Games & Esports	Gaming & Esports	SUB-IND	0.27	0.33	0.44	0.42
FCOM	Fidelity MSCI Communication Services	Comm Services Sector	SECTOR	0.27	0.37	0.49	0.46
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.19	0.34	0.46	0.42
IVV	iShares Core S&P 500	S&P 500	BROAD	0.19	0.34	0.46	0.42
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.19	0.34	0.45	0.42
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.13	0.30	0.46	—
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.13	0.30	0.46	0.45
IYZ	iShares US Telecommunications ETF	Telecom	INDUSTRY	-0.09	0.17	0.31	0.28

NEXT STEPS

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Replacement research for GTM's peers

YELP CARG MTCH QNST PINS SNAP PPLI TRIP RDDT GOOGL GOOG META

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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.