Tax-loss harvesting alternatives for VOYA

Among the 28 Multi-Sector Holdings peers screened, EQH (Equitable Holdings) has tracked VOYA most closely over the past year, with a return correlation of 0.67. The strongest fund stand-in is VFH (Vanguard Financials ETF) at 0.64 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
EQH	Equitable Holdings	Diversified Financial Services	0.67	0.70	0.73	0.77
JEF	Jefferies	Multi-Sector Holdings	0.48	0.58	0.60	0.65
CPAY	Corpay	Transaction & Payment Processing Services	0.36	0.48	0.52	0.53
MA	Mastercard Inc.	Transaction & Payment Processing Services	0.36	0.43	0.48	0.53
GPN	Global Payments	Transaction & Payment Processing Services	0.31	0.44	0.47	0.51
V	Visa Inc.	Transaction & Payment Processing Services	0.31	0.42	0.45	0.52
ESNT	Essent Group Ltd.	Commercial & Residential Mortgage Finance	0.30	0.47	0.57	0.51
NATL	NCR Atleos	Transaction & Payment Processing Services	0.29	0.33	—	—
EEFT	Euronet Worldwide	Transaction & Payment Processing Services	0.27	0.42	0.45	0.46
NMIH	NMI Holdings, Inc.	Commercial & Residential Mortgage Finance	0.26	0.45	0.52	0.52
EVTC	EVERTEC, Inc.	Transaction & Payment Processing Services	0.26	0.38	0.41	0.45
SEZL	Sezzle	Transaction & Payment Processing Services	0.25	0.19	—	—
CACC	Credit Acceptance	Specialized Finance	0.24	0.37	0.40	0.45
ACT	Enact Holdings, Inc.	Commercial & Residential Mortgage Finance	0.23	0.41	0.47	—
PAYO	Payoneer Global Inc.	Transaction & Payment Processing Services	0.23	0.26	0.27	—
FIS	Fidelity National Info	Transaction & Payment Processing Services	0.23	0.29	0.35	0.41
XYZ	Block Inc. (Square)	Transaction & Payment Processing Services	0.22	0.34	0.38	0.36
TOST	Toast, Inc.	Transaction & Payment Processing Services	0.22	0.31	0.30	—
FISV	Fiserv	Transaction & Payment Processing Services	0.20	0.24	0.32	0.40
PYPL	PayPal Holdings	Transaction & Payment Processing Services	0.19	0.36	0.37	0.35
WEX	WEX Inc.	Transaction & Payment Processing Services	0.18	0.42	0.47	0.55
WU	Western Union	Transaction & Payment Processing Services	0.18	0.29	0.34	0.41
WD	Walker & Dunlop, Inc.	Commercial & Residential Mortgage Finance	0.17	0.35	0.41	0.47
RELY	Remitly	Transaction & Payment Processing Services	0.13	0.18	0.21	—
FOUR	Shift4	Transaction & Payment Processing Services	0.12	0.28	0.32	0.30
HASI	Hannon Armstrong Sustainable Infrastructure Capital, Inc.	Specialized Finance	0.11	0.25	0.28	0.32
EFC	Ellington Financial, Inc.	Specialized Finance	0.11	0.35	0.40	0.34
JKHY	Jack Henry & Associates	Transaction & Payment Processing Services	0.09	0.21	0.26	0.32

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
VFH	Vanguard Financials ETF	Financials Sector	SECTOR	0.64	0.72	0.75	0.80
IYF	iShares US Financials ETF	Financials Sector	SECTOR	0.63	0.71	0.75	0.78
XLF	Financial Select Sector SPDR	Financials Sector	SECTOR	0.61	0.70	0.73	0.79
KBWB	Invesco KBW Bank ETF	Large Banks	INDUSTRY	0.59	0.67	0.71	0.76
KBE	SPDR S&P Bank ETF	Banks	INDUSTRY	0.59	0.66	0.69	0.75
KRE	SPDR S&P Regional Banking ETF	Regional Banks	SUB-IND	0.55	0.62	0.65	0.72
IAI	iShares Broker-Dealers & Exchanges	Capital Markets	INDUSTRY	0.52	0.63	0.68	0.74
KIE	SPDR S&P Insurance ETF	Insurance	INDUSTRY	0.47	0.61	0.68	0.75
IPAY	ETFMG Prime Mobile Payments	Payments	SUB-IND	0.42	0.57	0.58	0.61
IAK	iShares US Insurance ETF	Insurance	INDUSTRY	0.40	0.55	0.64	0.74
FINX	Global X FinTech ETF	FinTech	SUB-IND	0.37	0.51	0.52	0.53
ARKF	ARK Fintech Innovation ETF	FinTech (Active)	SUB-IND	0.33	0.46	0.45	0.45

NEXT STEPS

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Replacement research for VOYA's peers

EQH JEF CPAY MA GPN V ESNT NATL EEFT NMIH EVTC SEZL CACC ACT PAYO FIS XYZ TOST FISV PYPL WEX WU WD RELY FOUR HASI EFC JKHY

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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.