Swap finder › US sector: financials
XLF tax-loss harvesting alternatives
State Street Financial Select Sector SPDR ETF (State Street) tracks S&P Financial Select Sector. If you hold XLF 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 XLF during the 31-day wait.
| Held fund | Index tracked | Issuer | Expense ratio | AUM | Holdings | Category |
|---|---|---|---|---|---|---|
| XLF State Street Financial Select Sector SPDR ETF | S&P Financial Select Sector | State Street | 0.08% | $51.08B | 80 | US sector: financials |
Sources: issuer fund page · public fund profile. Fund data as of 2026-10-16.
XLF wash sale alternatives (different index)
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| VFH Vanguard Financials ETF | MSCI US IMI 25/50 Financials | Vanguard | 0.09% | $13.01B | 0.995 | 86.5% | different indexhigh overlap |
| KBE State Street SPDR S&P Bank ETF | S&P Banks Select Industry | State Street | 0.35% | $1.41B | 0.740 | 10.3% | different indexloose match |
| DGRO iShares Core Dividend Growth ETF | Morningstar US Dividend Growth Index | BlackRock | 0.08% | $43.24B | 0.733 | 17.7% | different indexloose match |
| IVE iShares S&P 500 Value ETF | S&P 500 Value | BlackRock | 0.18% | $49.51B | 0.733 | 15.1% | different indexloose match |
| SPYV State Street SPDR Portfolio S&P 500 Value ETF | S&P 500 Value | State Street | 0.04% | $36.69B | 0.731 | 15.2% | different indexloose match |
| VIG Vanguard Dividend Appreciation ETF | S&P U.S. Dividend Growers Index | Vanguard | 0.04% | $111.88B | 0.705 | 19.6% | different indexloose match |
| RSP Invesco S&P 500 Equal Weight ETF | S&P 500 Equal Weighted | Invesco | 0.20% | $98.58B | 0.689 | n/a | different indexloose match |
| KRE State Street SPDR S&P Regional Banking ETF | S&P Regional Banks Select Industry | State Street | 0.35% | $3.52B | 0.683 | 2.2% | different indexloose match |
Sorted by 1-year correlation of daily total returns with XLF (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.
Reserved for a clearly-labeled brokerage referral link in the future. There are no referral or affiliate links on this site today, and listings are not influenced by any issuer or broker.
Leveraged funds on the same index
Not suggested as swaps. They track S&P Financial Select Sector with daily leverage; some practitioners still consider them potentially substantially identical. (Inverse funds on the same index are omitted here.)
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| FAS3x leveraged Direxion Daily Financial Bull 3X ETF | S&P Financial Select Sector | Direxion | 0.88% | $2.06B | 0.999 | n/a | same index, different leverage — gray area |
30-day wash-sale calendar for XLF
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 XLF in every account (including IRAs) for the window — a reinvested dividend is a purchase.
- Check automatic investments, a spouse’s accounts, and any XLF 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.