Tax-loss harvesting alternatives for LQDA

Among the 30 Pharmaceuticals peers screened, PTCT (PTC Therapeutics, Inc.) has tracked LQDA most closely over the past year, with a return correlation of 0.23. The strongest fund stand-in is XPH (SPDR S&P Pharmaceuticals) at 0.35 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
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.23	0.14	0.16	0.16
INDV	Indivior	Pharmaceuticals	0.22	0.09	-0.01	-0.01
ALKS	Alkermes plc	Pharmaceuticals	0.19	0.13	0.16	0.15
LLY	Eli Lilly	Pharmaceuticals	0.17	0.17	0.12	0.11
MRK	Merck & Co.	Pharmaceuticals	0.16	0.09	0.06	0.08
PFE	Pfizer Inc.	Pharmaceuticals	0.14	0.10	0.08	0.10
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.14	0.10	0.15	0.18
VTRS	Viatris	Pharmaceuticals	0.13	0.11	0.10	0.12
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.12	0.06	0.11	0.11
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.12	0.06	0.05	0.09
NVO	Novo Nordisk	Pharmaceuticals	0.12	0.14	0.12	0.12
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.11	0.11	0.15	0.15
ABBV	AbbVie Inc.	Pharmaceuticals	0.11	0.07	0.07	0.10
JNJ	Johnson & Johnson	Pharmaceuticals	0.11	0.04	0.01	0.06
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.11	0.10	0.17	0.13
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.10	0.14	0.14	0.15
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.10	0.11	0.08	0.12
AZN	AstraZeneca	Pharmaceuticals	0.10	0.11	0.14	0.15
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.09	0.05	0.06	0.07
GSK	GSK plc	Pharmaceuticals	0.09	0.07	0.11	0.11
ELAN	Elanco	Pharmaceuticals	0.07	0.07	0.12	0.12
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.07	0.14	0.14	0.13
PRGO	Perrigo	Pharmaceuticals	0.06	0.09	0.10	0.10
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.05	0.07	0.10	0.11
OGN	Organon & Co.	Pharmaceuticals	0.03	0.04	0.05	—
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.01	0.04	0.03	0.09
SNY	Sanofi S.A.	Pharmaceuticals	-0.00	0.05	0.07	0.09
INVA	Innoviva, Inc.	Pharmaceuticals	-0.02	0.04	0.08	0.16
PAHC	Phibro Animal Health	Pharmaceuticals	-0.04	0.03	0.06	0.09
ZTS	Zoetis Inc.	Pharmaceuticals	-0.06	0.02	0.07	0.10

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	0.35	0.29	0.30	0.28
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.29	0.26	0.32	0.29
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.27	0.21	0.19	0.21
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.27	0.25	0.28	0.27
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.20	0.19	0.21	0.21
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.20	0.19	0.21	0.21
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.19	0.18	0.18	0.20
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.18	0.17	0.18	0.19
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.17	0.16	0.17	0.18
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.08	0.09	0.14	0.17
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.08	0.15	0.23	0.22
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	-0.00	0.09	0.16	0.17

NEXT STEPS

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Replacement research for LQDA's peers

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

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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.