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USD tax-loss harvesting alternatives

ProShares Ultra Semiconductors (ProShares) tracks Dow Jones U.S. Semiconductors Index. If you hold USD at a loss, these ETFs track a different index, which generally makes them less likely to be considered “substantially identical” — while still moving closely with USD during the 31-day wait.

Held fund	Index tracked	Issuer	Expense ratio	AUM	Holdings	Category
USD2x leveraged ProShares Ultra Semiconductors	Dow Jones U.S. Semiconductors Index	ProShares	0.94%	$2.81B	54	Leveraged / inverse

Sources: issuer fund page · public fund profile. Fund data as of 2026-10-16.

Leveraged / inverse fund. These funds reset daily and can behave very differently from the index over weeks. Two leveraged funds on the same index (e.g. a 2x and a 3x, or two 3x funds from different issuers) may still be viewed by some as substantially identical — there is no IRS ruling either way. The alternatives below are limited to funds on a different index with similar leverage in the same direction.

USD wash sale alternatives (different index)

ETF	Index tracked	Issuer	Expense ratio	AUM	1-yr correlation	Holdings overlap	Notes
TECL3x leveraged Direxion Daily Technology Bull 3X ETF	S&P Technology Select Sector	Direxion	0.87%	$6.58B	0.931	n/a	different indexdifferent leverage
ROM2x leveraged ProShares Ultra Technology	Technology Select Sector Index	ProShares	0.93%	$1.39B	0.931	n/a	different index
SOXL3x leveraged Direxion Daily Semiconductor Bull 3X ETF	NYSE Semiconductor Index	Direxion	0.75%	$22.39B	0.920	n/a	different indexdifferent leverage
QLD2x leveraged ProShares Ultra QQQ	NASDAQ 100 Index	ProShares	0.89%	$15.25B	0.890	n/a	different index
TQQQ3x leveraged ProShares UltraPro QQQ	NASDAQ 100 Index	ProShares	0.78%	$38.96B	0.890	n/a	different indexdifferent leverage
SPXL3x leveraged Direxion Daily S&P 500 Bull 3X ETF	S&P 500	Direxion	0.84%	$7.34B	0.763	n/a	different indexloose matchdifferent leverage
UPRO3x leveraged ProShares UltraPro S&P500	S&P 500	ProShares	0.88%	$5.70B	0.763	n/a	different indexloose matchdifferent leverage
SSO2x leveraged ProShares Ultra S&P 500	S&P 500	ProShares	0.84%	$9.20B	0.761	n/a	different indexloose match

Sorted by 1-year correlation of daily total returns with USD (through 2026-10-16). Holdings overlap = sum of the smaller weight of each common stock, from issuer holdings files; “n/a” where the issuer does not offer a free download or for bond/international/commodity funds. Hover a value for its as-of dates.

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30-day wash-sale calendar for USD

Sell (trade) date:

The window is 30 calendar days before and after the sale (61 days total, IRC §1091(a)). Buying the replacement fund right away is the point of a swap; the dates above are about buying back the fund you sold, or anything substantially identical to it.

Before you swap

Turn off dividend reinvestment for USD in every account (including IRAs) for the window — a reinvested dividend is a purchase.
Check automatic investments, a spouse’s accounts, and any USD bought in the 30 days before the sale.
Your broker generally only flags wash sales for the identical security in the same account. You are responsible for the rest.
Read how wash sales work and the FAQ, then confirm your plan with a tax professional.