Tax-loss harvesting alternatives for LMT

Among the 25 Aerospace & Defense peers screened, NOC (Northrop Grumman) has tracked LMT most closely over the past year, with a return correlation of 0.70. The strongest fund stand-in is PPA (Invesco Aerospace & Defense ETF) at 0.56 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
NOC	Northrop Grumman	Aerospace & Defense	0.70	0.54	0.64	0.73
LHX	L3Harris Technologies	Aerospace & Defense	0.61	0.57	0.64	0.69
RTX	RTX Corp.	Aerospace & Defense	0.58	0.46	0.52	0.54
GD	General Dynamics	Aerospace & Defense	0.55	0.51	0.59	0.66
HII	Huntington Ingalls Industries	Aerospace & Defense	0.52	0.39	0.47	0.56
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.40	0.34	0.33	0.40
KRMN	Karman Holdings	Aerospace & Defense	0.39	—	—	—
VVX	V2X, Inc.	Aerospace & Defense	0.39	0.30	0.28	0.31
CW	Curtiss-Wright	Aerospace & Defense	0.37	0.31	0.37	0.51
AVAV	AeroVironment	Aerospace & Defense	0.36	0.27	0.26	0.29
TXT	Textron	Aerospace & Defense	0.33	0.28	0.29	0.45
BWXT	BWX Technologies	Aerospace & Defense	0.29	0.24	0.30	0.35
TDG	TransDigm Group	Aerospace & Defense	0.27	0.25	0.26	0.35
AIR	AAR Corp.	Aerospace & Defense	0.26	0.22	0.26	0.33
SARO	StandardAero	Aerospace & Defense	0.26	0.25	—	—
PSN	Parsons Corporation	Aerospace & Defense	0.24	0.22	0.25	0.33
MOG-A	Moog Inc.	Aerospace & Defense	0.24	0.20	0.27	0.39
HWM	Howmet Aerospace	Aerospace & Defense	0.22	0.19	0.23	0.36
HXL	Hexcel	Aerospace & Defense	0.22	0.18	0.21	0.34
VSEC	VSE Corporation	Aerospace & Defense	0.22	0.18	0.15	0.20
BA	Boeing Co.	Aerospace & Defense	0.19	0.13	0.15	0.35
ATI	ATI Inc.	Aerospace & Defense	0.12	0.10	0.17	0.29
AXON	Axon Enterprise	Aerospace & Defense	0.10	0.10	0.09	0.16
NPK	National Presto Industries, Inc.	Aerospace & Defense	0.09	0.11	0.20	0.26
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
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.56	0.49	0.55	0.67
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.51	0.47	0.53	0.64
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.46	0.41	0.44	0.58
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.29	0.27	0.32	0.53
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.26	0.24	0.28	0.50
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.25	0.24	0.26	0.49
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.25	0.24	0.28	0.49
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.14	0.14	0.20	0.40
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.09	0.08	0.10	0.34
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.06	0.07	0.08	0.29
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.01	0.03	0.06	0.27
JETS	US Global Jets ETF	Airlines	SUB-IND	0.01	0.05	0.05	0.24

NEXT STEPS

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Replacement research for LMT's peers

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