Tax-loss harvesting alternatives for PBJ

The closest fund alternative to PBJ (Food & Beverage) is XLP (Consumer Staples Select SPDR), with a return correlation of 0.78 over the past year. Among single names in the fund's slice of the market, CAG (Conagra Brands) tracks it most closely at 0.58 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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ETFS

Fund stand-ins

Funds covering similar ground. Two funds tracking the same index may themselves be 'substantially identical' for wash-sale purposes.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XLP	Consumer Staples Select SPDR	Cons Staples Sector	SECTOR	0.78	0.76	0.81	0.82
FSTA	Fidelity MSCI Consumer Staples	Cons Staples Sector	SECTOR	0.78	0.79	0.84	0.84
VDC	Vanguard Consumer Staples ETF	Cons Staples Sector	SECTOR	0.77	0.78	0.83	0.85
IYK	iShares US Consumer Staples ETF	Cons Staples Sector	SECTOR	0.75	0.72	0.79	0.82
RTH	VanEck Retail ETF	Retail	INDUSTRY	0.50	0.61	0.63	0.70
IWM	iShares Russell 2000	Small-Cap	BROAD	0.23	0.52	0.57	0.66
VTI	Vanguard Total Stock Market	Total US Market	BROAD	0.10	0.48	0.56	0.68
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.08	0.46	0.56	0.68
IVV	iShares Core S&P 500	S&P 500	BROAD	0.08	0.46	0.56	0.68
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.07	0.46	0.56	0.68
IWF	iShares Russell 1000 Growth	Large Growth	BROAD	-0.07	0.31	0.42	0.58
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	-0.08	0.31	0.40	0.55

STOCKS

Single-name peers

Single names inside the fund's slice of the market.

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
CAG	Conagra Brands	Packaged Foods & Meats	0.58	0.49	0.55	0.52
FLO	Flowers Foods	Packaged Foods & Meats	0.47	0.47	0.50	0.52
DMC	Del Monte Corporation	Packaged Foods & Meats	0.46	0.42	0.46	0.45
DEO	Diageo plc	Distillers & Vintners	0.46	0.41	0.45	0.49
CPB	The Campbell's Company	Packaged Foods & Meats	0.43	0.42	0.48	0.47
BF-B	Brown-Forman (B)	Distillers & Vintners	0.40	0.41	0.46	0.54
FIZZ	National Beverage Corp.	Soft Drinks & Non-alcoholic Beverages	0.37	0.35	0.39	0.34
CALM	Cal-Maine Foods, Inc.	Packaged Foods & Meats	0.34	0.35	0.34	0.36
BG	Bunge Global	Agricultural Products & Services	0.33	0.35	0.42	0.46
COKE	Coca-Cola Consolidated	Soft Drinks & Non-alcoholic Beverages	0.31	0.39	0.43	0.44
ADM	Archer Daniels Midland	Agricultural Products & Services	0.30	0.37	0.46	0.55
DAR	Darling Ingredients	Agricultural Products & Services	0.27	0.35	0.40	0.47
CELH	Celsius Holdings	Soft Drinks & Non-alcoholic Beverages	0.27	0.31	0.32	0.29
COCO	The Vita Coco Company	Soft Drinks & Non-alcoholic Beverages	0.07	0.22	0.25	—

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Replacement research for PBJ's peers

CAG FLO DMC DEO CPB BF-B FIZZ CALM BG COKE ADM DAR CELH COCO

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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.