Tax-loss harvesting alternatives for SPGI

Among the 12 Financial Exchanges & Data peers screened, MCO (Moody's Corporation) has tracked SPGI most closely over the past year, with a return correlation of 0.88. The strongest fund stand-in is IAI (iShares Broker-Dealers & Exchanges) at 0.51 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
MCO	Moody's Corporation	Financial Exchanges & Data	0.88	0.85	0.86	0.87
MSCI	MSCI Inc.	Financial Exchanges & Data	0.70	0.62	0.67	0.70
NDAQ	Nasdaq Inc.	Financial Exchanges & Data	0.67	0.64	0.63	0.64
MORN	Morningstar, Inc.	Financial Exchanges & Data	0.62	0.60	0.59	0.53
FDS	FactSet	Financial Exchanges & Data	0.61	0.58	0.59	0.62
ICE	Intercontinental Exchange	Financial Exchanges & Data	0.58	0.54	0.59	0.63
DFIN	Donnelley Financial Solutions, Inc.	Financial Exchanges & Data	0.47	0.38	0.40	0.40
COIN	Coinbase Global	Financial Exchanges & Data	0.26	0.23	0.33	—
CME	CME Group	Financial Exchanges & Data	0.24	0.20	0.30	0.47
VIRT	Virtu Financial, Inc.	Financial Exchanges & Data	0.16	0.19	0.20	0.13
MKTX	MarketAxess	Financial Exchanges & Data	0.13	0.15	0.29	0.38
CBOE	Cboe Global Markets	Financial Exchanges & Data	0.13	0.12	0.22	0.33

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
IAI	iShares Broker-Dealers & Exchanges	Capital Markets	INDUSTRY	0.51	0.60	0.59	0.64
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.51	0.58	0.60	0.63
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.50	0.53	0.59	0.66
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.49	0.57	0.59	0.63
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.48	0.56	0.59	0.65
FINX	Global X FinTech ETF	FinTech	SUB-IND	0.42	0.48	0.56	0.63
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.40	0.47	0.49	0.57
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	0.32	0.40	0.49	0.52
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.31	0.41	0.43	0.54
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.24	0.37	0.41	0.47
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.23	0.40	0.44	0.49
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.21	0.34	0.37	0.43

NEXT STEPS

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Replacement research for SPGI's peers

MCO MSCI NDAQ MORN FDS ICE DFIN COIN CME VIRT MKTX CBOE

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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.