Tax-loss harvesting alternatives for ZTS

Among the 30 Pharmaceuticals peers screened, PAHC (Phibro Animal Health) has tracked ZTS most closely over the past year, with a return correlation of 0.53. The strongest fund stand-in is IHI (iShares Medical Devices ETF) at 0.43 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
PAHC	Phibro Animal Health	Pharmaceuticals	0.53	0.40	0.38	0.37
ELAN	Elanco	Pharmaceuticals	0.44	0.37	0.43	0.44
SNY	Sanofi S.A.	Pharmaceuticals	0.28	0.26	0.25	0.34
PRGO	Perrigo	Pharmaceuticals	0.28	0.24	0.26	0.27
PFE	Pfizer Inc.	Pharmaceuticals	0.27	0.27	0.28	0.37
MRK	Merck & Co.	Pharmaceuticals	0.27	0.30	0.27	0.40
GSK	GSK plc	Pharmaceuticals	0.25	0.28	0.27	0.37
BMY	Bristol-Myers Squibb	Pharmaceuticals	0.24	0.27	0.26	0.35
PBH	Prestige Consumer Healthcare	Pharmaceuticals	0.22	0.24	0.26	0.28
AZN	AstraZeneca	Pharmaceuticals	0.21	0.28	0.29	0.35
ANIP	ANI Pharmaceuticals, Inc.	Pharmaceuticals	0.20	0.17	0.15	0.23
AMPH	Amphstar Pharmaceuticals, Inc.	Pharmaceuticals	0.19	0.23	0.23	0.25
AMRX	Amneal Pharmaceuticals	Pharmaceuticals	0.17	0.24	0.23	0.21
LLY	Eli Lilly	Pharmaceuticals	0.16	0.20	0.25	0.34
JNJ	Johnson & Johnson	Pharmaceuticals	0.15	0.23	0.25	0.39
NVO	Novo Nordisk	Pharmaceuticals	0.14	0.19	0.23	0.29
INDV	Indivior	Pharmaceuticals	0.14	0.15	0.01	0.02
INVA	Innoviva, Inc.	Pharmaceuticals	0.12	0.18	0.21	0.29
JAZZ	Jazz Pharmaceuticals	Pharmaceuticals	0.10	0.21	0.26	0.32
PCRX	Pacira BioSciences, Inc.	Pharmaceuticals	0.10	0.12	0.19	0.25
ALKS	Alkermes plc	Pharmaceuticals	0.10	0.19	0.19	0.23
OGN	Organon & Co.	Pharmaceuticals	0.10	0.19	0.23	—
SUPN	Supernus Pharmaceuticals, Inc.	Pharmaceuticals	0.09	0.13	0.20	0.21
PTCT	PTC Therapeutics, Inc.	Pharmaceuticals	0.08	0.18	0.21	0.22
ABBV	AbbVie Inc.	Pharmaceuticals	0.08	0.21	0.23	0.34
CORT	Corcept Therapeutics Incorporated	Pharmaceuticals	0.04	0.09	0.13	0.17
ACAD	Acadia Pharmaceuticals	Pharmaceuticals	0.04	0.16	0.19	0.20
COLL	Collegium Pharmaceutical, Inc.	Pharmaceuticals	0.02	0.14	0.19	0.21
VTRS	Viatris	Pharmaceuticals	0.02	0.21	0.24	0.25
LQDA	Liquidia Corporation	Pharmaceuticals	-0.10	0.01	0.07	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
IHI	iShares Medical Devices ETF	Medical Devices	SUB-IND	0.43	0.46	0.57	0.64
XHE	SPDR S&P Health Care Equipment	Medical Devices (Equal Wt)	SUB-IND	0.39	0.43	0.51	0.57
PPH	VanEck Pharma ETF	Pharmaceuticals	INDUSTRY	0.37	0.45	0.50	0.58
FHLC	Fidelity MSCI Health Care ETF	Health Care Sector	SECTOR	0.36	0.47	0.56	0.64
VHT	Vanguard Health Care ETF	Health Care Sector	SECTOR	0.36	0.47	0.56	0.64
IYH	iShares US Healthcare ETF	Health Care Sector	SECTOR	0.36	0.46	0.56	0.64
XLV	Health Care Select Sector SPDR	Health Care Sector	SECTOR	0.35	0.46	0.54	0.64
IHE	iShares US Pharmaceuticals ETF	Pharmaceuticals	INDUSTRY	0.34	0.45	0.51	0.59
XPH	SPDR S&P Pharmaceuticals	Pharmaceuticals (Equal Wt)	INDUSTRY	0.26	0.40	0.47	0.52
IBB	iShares Biotechnology ETF	Biotechnology	INDUSTRY	0.26	0.38	0.46	0.50
XBI	SPDR S&P Biotech ETF	Biotechnology (Equal Wt)	INDUSTRY	0.18	0.30	0.37	0.42
IHF	iShares Health Care Providers	Health Care Providers	INDUSTRY	0.08	0.19	0.32	0.47

NEXT STEPS

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Replacement research for ZTS's peers

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