Tax-loss harvesting alternatives for ON

Among the 31 Semiconductors peers screened, ADI (Analog Devices) has tracked ON most closely over the past year, with a return correlation of 0.78. The strongest fund stand-in is XSD (SPDR S&P Semiconductor ETF) at 0.77 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
ADI	Analog Devices	Semiconductors	0.78	0.76	0.77	0.77
MCHP	Microchip Technology	Semiconductors	0.77	0.76	0.80	0.79
TXN	Texas Instruments	Semiconductors	0.74	0.72	0.72	0.71
MPWR	Monolithic Power Systems	Semiconductors	0.73	0.67	0.70	0.69
NXPI	NXP Semiconductors	Semiconductors	0.72	0.77	0.80	0.77
DIOD	Diodes Incorporated	Semiconductors	0.69	0.68	0.73	0.71
SYNA	Synaptics	Semiconductors	0.68	0.64	0.70	0.59
LSCC	Lattice Semiconductor	Semiconductors	0.65	0.66	0.72	0.62
ALGM	Allegro MicroSystems	Semiconductors	0.65	0.65	0.66	—
GFS	GlobalFoundries	Semiconductors	0.65	0.64	0.66	—
POWI	Power Integrations	Semiconductors	0.64	0.65	0.69	0.66
AMKR	Amkor Technology	Semiconductors	0.62	0.60	0.64	0.64
AOSL	Alpha and Omega Semiconductor, Ltd.	Semiconductors	0.60	0.53	0.60	0.56
RMBS	Rambus	Semiconductors	0.57	0.57	0.59	0.58
MU	Micron Technology	Semiconductors	0.56	0.51	0.55	0.60
SMTC	Semtech	Semiconductors	0.55	0.50	0.53	0.56
MTSI	MACOM Technology Solutions	Semiconductors	0.55	0.55	0.61	0.54
CRUS	Cirrus Logic	Semiconductors	0.54	0.56	0.60	0.60
MRVL	Marvell Technology	Semiconductors	0.53	0.50	0.58	0.59
QCOM	Qualcomm Inc.	Semiconductors	0.51	0.56	0.62	0.58
PENG	Penguin Solutions, Inc.	Semiconductors	0.50	0.45	0.50	0.50
SWKS	Skyworks Solutions	Semiconductors	0.50	0.56	0.64	0.66
INTC	Intel Corp.	Semiconductors	0.49	0.45	0.48	0.50
QRVO	Qorvo	Semiconductors	0.48	0.54	0.61	0.62
SITM	SiTime	Semiconductors	0.47	0.49	0.57	0.52
AMD	Advanced Micro Devices	Semiconductors	0.47	0.50	0.59	0.52
OLED	Universal Display	Semiconductors	0.42	0.55	0.59	0.55
MXL	MaxLinear, Inc.	Semiconductors	0.40	0.41	0.48	0.52
AVGO	Broadcom Inc.	Semiconductors	0.39	0.42	0.50	0.57
NVDA	NVIDIA Corp.	Semiconductors	0.35	0.38	0.53	0.54
SLAB	Silicon Labs	Semiconductors	0.24	0.47	0.56	0.62

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
XSD	SPDR S&P Semiconductor ETF	Semiconductors (Equal Wt)	INDUSTRY	0.77	0.76	0.81	0.81
SOXX	iShares Semiconductor ETF	Semiconductors	INDUSTRY	0.74	0.73	0.79	0.79
PSI	Invesco Semiconductors ETF	Semiconductors	INDUSTRY	0.72	0.71	0.77	0.78
SMH	VanEck Semiconductor ETF	Semiconductors	INDUSTRY	0.70	0.67	0.74	0.76
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.61	0.60	0.66	—
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.61	0.60	0.66	0.65
XLK	Technology Select Sector SPDR	Tech Sector	SECTOR	0.61	0.60	0.66	0.66
FTEC	Fidelity MSCI Info Tech ETF	Tech Sector	SECTOR	0.60	0.60	0.67	0.67
VGT	Vanguard Info Tech ETF	Tech Sector	SECTOR	0.60	0.60	0.67	0.67
HACK	ETFMG Prime Cyber Security	Cybersecurity	SUB-IND	0.19	0.35	0.46	0.52
BUG	Global X Cybersecurity ETF	Cybersecurity	SUB-IND	0.13	0.29	0.41	0.45
IGV	iShares Expanded Tech-Software	Software	INDUSTRY	0.05	0.30	0.46	0.52

NEXT STEPS

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Replacement research for ON's peers

ADI MCHP TXN MPWR NXPI DIOD SYNA LSCC ALGM GFS POWI AMKR AOSL RMBS MU SMTC MTSI CRUS MRVL QCOM PENG SWKS INTC QRVO SITM AMD OLED MXL AVGO NVDA SLAB

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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.