Tax-loss harvesting alternatives for PAHC

Among the 30 Pharmaceuticals peers screened, ZTS (Zoetis Inc.) has tracked PAHC most closely over the past year, with a return correlation of 0.53. The strongest fund stand-in is XHE (SPDR S&P Health Care Equipment) at 0.30 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
ZTS	Zoetis Inc.	Pharmaceuticals	0.53	0.40	0.38	0.37
ELAN	Elanco	Pharmaceuticals	0.46	0.36	0.36	0.37
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.28	0.26	0.23	0.26
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.26	0.20	0.18	0.25
GSK	GSK plc	Pharmaceuticals	0.25	0.19	0.19	0.25
INDV	Indivior	Pharmaceuticals	0.22	0.18	0.01	0.02
PRGO	Perrigo	Pharmaceuticals	0.21	0.22	0.23	0.24
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.21	0.19	0.21	0.22
MRK	Merck & Co.	Pharmaceuticals	0.20	0.17	0.17	0.23
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.19	0.17	0.19	0.18
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.18	0.20	0.18	0.23
INVA	Innoviva, Inc.	Pharmaceuticals	0.18	0.21	0.22	0.23
AZN	AstraZeneca	Pharmaceuticals	0.18	0.16	0.17	0.23
SNY	Sanofi S.A.	Pharmaceuticals	0.17	0.17	0.18	0.24
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.15	0.19	0.19	0.18
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.15	0.12	0.15	0.19
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.14	0.25	0.26	0.27
PFE	Pfizer Inc.	Pharmaceuticals	0.12	0.17	0.17	0.22
ALKS	Alkermes plc	Pharmaceuticals	0.11	0.22	0.20	0.21
JNJ	Johnson & Johnson	Pharmaceuticals	0.10	0.11	0.13	0.21
ABBV	AbbVie Inc.	Pharmaceuticals	0.09	0.12	0.14	0.20
OGN	Organon & Co.	Pharmaceuticals	0.09	0.19	0.21	—
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.09	0.27	0.28	0.29
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.08	0.20	0.20	0.18
LLY	Eli Lilly	Pharmaceuticals	0.07	0.12	0.14	0.19
VTRS	Viatris	Pharmaceuticals	0.05	0.23	0.24	0.28
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.04	0.18	0.17	0.17
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.03	0.07	0.09	0.13
NVO	Novo Nordisk	Pharmaceuticals	0.03	0.10	0.12	0.15
LQDA	Liquidia Corporation	Pharmaceuticals	-0.06	0.04	0.06	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
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.30	0.37	0.36	0.38
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.29	0.39	0.38	0.41
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.29	0.32	0.33	0.35
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.27	0.32	0.34	0.38
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.26	0.32	0.34	0.38
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.25	0.32	0.34	0.39
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.25	0.27	0.31	0.38
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.25	0.34	0.33	0.35
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.25	0.30	0.32	0.37
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.24	0.29	0.31	0.36
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.20	0.33	0.30	0.33
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.10	0.16	0.23	0.31

NEXT STEPS

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Replacement research for PAHC's peers

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