Tax-loss harvesting alternatives for INVA

Among the 30 Pharmaceuticals peers screened, COLL (Collegium Pharmaceutical, Inc.) has tracked INVA most closely over the past year, with a return correlation of 0.32. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.37 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
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.32	0.27	0.22	0.26
GSK	GSK plc	Pharmaceuticals	0.30	0.26	0.24	0.31
INDV	Indivior	Pharmaceuticals	0.29	0.14	0.01	0.01
MRK	Merck & Co.	Pharmaceuticals	0.27	0.23	0.22	0.27
AZN	AstraZeneca	Pharmaceuticals	0.27	0.27	0.24	0.23
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.26	0.22	0.22	0.25
JNJ	Johnson & Johnson	Pharmaceuticals	0.26	0.27	0.19	0.25
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.26	0.25	0.22	0.26
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.24	0.26	0.21	0.24
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.24	0.24	0.21	0.24
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.22	0.17	0.20	0.27
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.21	0.24	0.20	0.26
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.19	0.20	0.19	0.21
LLY	Eli Lilly	Pharmaceuticals	0.19	0.20	0.17	0.21
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.19	0.24	0.22	0.28
PAHC	Phibro Animal Health	Pharmaceuticals	0.18	0.21	0.22	0.23
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.17	0.22	0.22	0.27
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.17	0.19	0.20	0.26
SNY	Sanofi S.A.	Pharmaceuticals	0.16	0.21	0.20	0.23
PFE	Pfizer Inc.	Pharmaceuticals	0.15	0.20	0.20	0.23
ALKS	Alkermes plc	Pharmaceuticals	0.14	0.21	0.20	0.28
ABBV	AbbVie Inc.	Pharmaceuticals	0.14	0.19	0.17	0.24
VTRS	Viatris	Pharmaceuticals	0.13	0.22	0.22	0.26
ZTS	Zoetis Inc.	Pharmaceuticals	0.12	0.18	0.21	0.29
ELAN	Elanco	Pharmaceuticals	0.10	0.15	0.18	0.28
PRGO	Perrigo	Pharmaceuticals	0.06	0.15	0.16	0.21
NVO	Novo Nordisk	Pharmaceuticals	0.04	0.12	0.10	0.16
OGN	Organon & Co.	Pharmaceuticals	0.03	0.11	0.13	—
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.01	0.04	0.11	0.16
LQDA	Liquidia Corporation	Pharmaceuticals	-0.03	0.04	0.09	0.17

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
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.37	0.41	0.40	0.47
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.34	0.38	0.36	0.44
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.30	0.35	0.33	0.41
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.27	0.35	0.33	0.41
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.27	0.34	0.33	0.41
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.27	0.34	0.31	0.39
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.25	0.33	0.31	0.40
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.24	0.24	0.26	0.34
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.23	0.33	0.34	0.41
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.23	0.33	0.32	0.41
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.19	0.25	0.28	0.36
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.05	0.19	0.21	0.35

NEXT STEPS

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Replacement research for INVA's peers

COLL GSK INDV MRK AZN ACAD JNJ AMRX BMY PBH PCRX ANIP PTCT LLY AMPH PAHC JAZZ SUPN SNY PFE ALKS ABBV VTRS ZTS ELAN PRGO NVO OGN CORT LQDA

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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.