Tax-Loss Harvest Finder
Sell the loss, keep the exposure. For any fund, ranked stand-ins that track the same market — scored on a year of price correlation, holdings overlap, and fee — with a flag when two funds follow the same index and a swap could look substantially identical.
Correlation computed on ~250 shared sessions per pair · not tax advice — the flag is a heuristic, your compliance desk has the final word
| Substitute | Correlation | Book overlap | Fee vs CMF | Assets | Wash-sale read | |
|---|---|---|---|---|---|---|
| VTEB Vanguard Tax-Exempt Bond ETF | 0.942 | — | -3bp | $33.8B | different index | Compare |
| FMHI First Trust Municipal High Income ETF | 0.823 | — | -8bp | $694M | different index | Compare |
| IBDQ iShares iBonds Dec 2025 Term Corporate ETF | — | — | +2bp | $2.3B | different index | Compare |
| TFI State Street SPDR Nuveen ICE Municipal Bond ETF | 0.930 | — | +15bp | $2.9B | different index | Compare |
| PZA Invesco National AMT-Free Municipal Bond ETFo | 0.835 | — | +20bp | $4.1B | different index | Compare |
| PWZ Invesco California AMT-Free Municipal Bond Portfolio | 0.830 | — | +20bp | $1.2B | different index | Compare |
RANKED BY CORRELATION, FEE, AND OVERLAP · “SAME INDEX” PAIRS ARE FLAGGED BECAUSE THE IRS HAS NEVER DEFINED “SUBSTANTIALLY IDENTICAL” — MOST DESKS TREAT SAME-INDEX SWAPS AS OFF-LIMITS AND DIFFERENT-INDEX SWAPS AS DEFENSIBLE
Cached coverage for 2,133 funds. Latest price/flow record dates: 2024-08-23 to 2026-10-02 (1,104 funds with dated records). Fund details retrieved: 2026-09-02 to 2026-10-03. Data dates vary by fund; these are not live quotes. Flow totals include available records only; missing coverage is not evidence of zero flow.