Tax-loss harvesting alternatives for QSR

Among the 17 Restaurants peers screened, DPZ (Domino's Pizza) has tracked QSR most closely over the past year, with a return correlation of 0.39. The strongest fund stand-in is PEJ (Invesco Leisure & Entertainment) 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
DPZ	Domino's Pizza	Restaurants	0.39	0.38	0.38	0.27
DRI	Darden Restaurants	Restaurants	0.37	0.35	0.44	0.56
SBUX	Starbucks Corp.	Restaurants	0.36	0.30	0.38	0.45
MCD	McDonald's Corp.	Restaurants	0.35	0.40	0.45	0.53
YUM	Yum! Brands	Restaurants	0.34	0.43	0.49	0.55
WEN	The Wendy's Company	Restaurants	0.30	0.32	0.36	0.48
EAT	Brinker International, Inc.	Restaurants	0.29	0.26	0.33	0.44
CAKE	The Cheesecake Factory, Inc.	Restaurants	0.29	0.28	0.34	0.36
TXRH	Texas Roadhouse	Restaurants	0.28	0.31	0.38	0.46
BROS	Dutch Bros Inc.	Restaurants	0.28	0.16	0.24	—
SHAK	Shake Shack, Inc.	Restaurants	0.27	0.27	0.32	0.35
CMG	Chipotle Mexican Grill	Restaurants	0.27	0.26	0.34	0.35
CAVA	Cava Group	Restaurants	0.24	0.19	0.19	—
WING	Wingstop Inc.	Restaurants	0.23	0.22	0.28	0.30
PZZA	Papa John's Pizza	Restaurants	0.19	0.24	0.27	0.25
CBRL	Cracker Barrel	Restaurants	0.18	0.21	0.27	0.39
BJRI	BJ's Restaurants, Inc.	Restaurants	0.14	0.25	0.33	0.47

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
PEJ	Invesco Leisure & Entertainment	Leisure & Entertainment	INDUSTRY	0.35	0.35	0.45	0.58
RTH	VanEck Retail ETF	Retail	INDUSTRY	0.32	0.37	0.44	0.45
IYC	iShares US Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.31	0.34	0.44	0.52
XRT	SPDR S&P Retail ETF	Retail	INDUSTRY	0.30	0.36	0.41	0.43
ITB	iShares US Home Construction	Homebuilders	SUB-IND	0.30	0.33	0.39	0.49
XHB	SPDR S&P Homebuilders ETF	Homebuilders	SUB-IND	0.25	0.32	0.40	0.50
BETZ	Roundhill Sports Betting iGaming	Sports Betting	SUB-IND	0.25	0.30	0.41	0.40
FDIS	Fidelity MSCI Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.19	0.27	0.39	0.47
VCR	Vanguard Consumer Discretionary	Cons Discretionary Sector	SECTOR	0.19	0.27	0.39	0.48
XLY	Consumer Discretionary SPDR	Cons Discretionary Sector	SECTOR	0.17	0.26	0.38	0.47
DRIV	Global X Autonomous & EV ETF	Autonomous & EV	INDUSTRY	-0.06	0.19	0.33	0.43
CARZ	First Trust S-Network EV & FV	Autos & EVs	INDUSTRY	-0.09	0.13	0.26	0.40

NEXT STEPS

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Replacement research for QSR's peers

DPZ DRI SBUX MCD YUM WEN EAT CAKE TXRH BROS SHAK CMG CAVA WING PZZA CBRL BJRI

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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.