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 0.25. The strongest fund stand-in is XBI (SPDR S&P Biotech ETF) 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
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.25	0.16	0.16	0.16
ALKS	Alkermes plc	Pharmaceuticals	0.24	0.14	0.17	0.16
INDV	Indivior	Pharmaceuticals	0.23	0.09	-0.01	-0.01
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.17	0.12	0.18	0.13
LLY	Eli Lilly	Pharmaceuticals	0.14	0.17	0.11	0.11
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.13	0.12	0.16	0.15
PFE	Pfizer Inc.	Pharmaceuticals	0.12	0.10	0.08	0.09
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.11	0.05	0.04	0.09
NVO	Novo Nordisk	Pharmaceuticals	0.11	0.15	0.12	0.12
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.10	0.06	0.07	0.07
MRK	Merck & Co.	Pharmaceuticals	0.10	0.07	0.04	0.08
ABBV	AbbVie Inc.	Pharmaceuticals	0.10	0.07	0.06	0.10
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.09	0.09	0.15	0.18
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.09	0.04	0.11	0.11
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.09	0.13	0.15	0.16
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.09	0.15	0.14	0.13
JNJ	Johnson & Johnson	Pharmaceuticals	0.07	0.03	-0.01	0.06
VTRS	Viatris	Pharmaceuticals	0.07	0.09	0.09	0.12
AZN	AstraZeneca	Pharmaceuticals	0.06	0.11	0.14	0.15
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.05	0.09	0.07	0.11
ELAN	Elanco	Pharmaceuticals	0.04	0.06	0.12	0.12
PRGO	Perrigo	Pharmaceuticals	0.04	0.08	0.09	0.10
OGN	Organon & Co.	Pharmaceuticals	0.03	0.04	0.05	—
SNY	Sanofi S.A.	Pharmaceuticals	0.02	0.07	0.08	0.10
GSK	GSK plc	Pharmaceuticals	0.01	0.04	0.10	0.11
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.01	0.06	0.10	0.11
INVA	Innoviva, Inc.	Pharmaceuticals	-0.03	0.04	0.09	0.17
PBH	Prestige Consumer Healthcare	Pharmaceuticals	-0.05	0.02	0.02	0.09
PAHC	Phibro Animal Health	Pharmaceuticals	-0.06	0.04	0.06	0.10
ZTS	Zoetis Inc.	Pharmaceuticals	-0.10	0.01	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
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.37	0.30	0.34	0.29
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.36	0.29	0.30	0.28
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.31	0.27	0.29	0.27
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.23	0.20	0.18	0.20
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.16	0.18	0.20	0.21
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.16	0.18	0.20	0.21
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.14	0.17	0.17	0.19
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.14	0.16	0.18	0.19
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.12	0.15	0.16	0.18
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.07	0.08	0.14	0.18
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.06	0.15	0.24	0.22
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	-0.07	0.08	0.16	0.17

NEXT STEPS

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Replacement research for LQDA's peers

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