Info · Reference
Tax-loss harvesting partners
Tax-loss harvesting means selling an investment that's down to book a capital loss (which can offset gains or income), then immediately buying something that fills the same role so your portfolio barely changes. The catch is the wash-sale rule: if you buy a "substantially identical" security within 30 days, the loss is disallowed. The common workaround is to swap into a fund that tracks the same slice of the market through a different index. This table lists candidates, grouped by market slice.
Last reviewed August 2026 Fund-to-index mappings compiled from fund prospectuses; verify against the current prospectus before acting. The wash-sale standard is IRC §1091 / IRS Publication 550. Last reviewed August 2026. · source & method
This is educational information, not tax or investment advice. Everyone's situation differs; consider talking to a tax professional before harvesting.
The IRS has never defined "substantially identical" for funds tracking different indexes. Pairing different-index funds is common practice, not a guarantee. What's clearly risky is swapping between two funds that track the same index (two S&P 500 funds, say) — treat those as identical.
The 30-day window runs both ways (61 days total), and it's easy to trip by accident: automatic investments, dividend reinvestment (turn it off around a harvest), a purchase in your IRA or 401(k), or a buy in a spouse's account can all trigger a wash sale.
How to read this
Within each market slice, a candidate partner is any fund whose Index tracked differs from the one you're selling. Sell the fund that's at a loss, buy one from the same slice with a different index, and avoid re-buying the original (or anything on its index) for 31 days. Tickers list the ETF and, where it exists, the equivalent mutual fund.
US total market
Whole US stock market — large, mid, and small combined.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VTI / VTSAX | Vanguard Total Stock Market | CRSP US Total Market |
| ITOT | iShares Core S&P Total US Stock Market | S&P Total Market |
| SCHB / SWTSX | Schwab US Broad Market / Total Stock | Dow Jones US Total/Broad |
| FSKAX | Fidelity Total Market Index | Dow Jones US Total Market |
| FZROX | Fidelity ZERO Total Market | Fidelity US Total Investable Mkt |
US large cap
The biggest US companies. The S&P 500 funds below all track the SAME index — pair one of them with a different-index large-cap fund, not with each other.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VOO / IVV / SPY / SPLG / FXAIX | S&P 500 funds (multiple providers) | S&P 500 |
| VV / VLCAX | Vanguard Large-Cap | CRSP US Large Cap |
| SCHX | Schwab US Large-Cap | Dow Jones US Large-Cap |
Note. VOO, IVV, SPY, SPLG, and FXAIX all follow the S&P 500, so they are likely substantially identical to one another. Their natural partners are the CRSP or Dow Jones large-cap funds, or a total-market fund.
US small cap
Smaller US companies.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VB / VSMAX | Vanguard Small-Cap | CRSP US Small Cap |
| IJR | iShares Core S&P Small-Cap | S&P SmallCap 600 |
| SCHA | Schwab US Small-Cap | Dow Jones US Small-Cap |
| VTWO / IWM | Vanguard / iShares Russell 2000 | Russell 2000 |
US extended market (mid + small)
The mid- and small-cap completion that turns an S&P 500 holding into the total market.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VXF / VEXAX | Vanguard Extended Market | S&P Completion |
| FSMAX | Fidelity Extended Market | Dow Jones US Completion |
Developed markets ex-US
Developed economies outside the US. FTSE and MSCI classify some countries (notably South Korea) differently, which helps make them non-identical.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VEA / VTMGX | Vanguard FTSE Developed Markets | FTSE Developed All Cap ex US |
| SCHF | Schwab International Equity | FTSE Developed ex US |
| IEFA | iShares Core MSCI EAFE | MSCI EAFE IMI |
| FSPSX / SWISX | Fidelity / Schwab International Index | MSCI EAFE |
| SPDW | SPDR Portfolio Developed World ex-US | S&P Developed ex-US BMI |
Emerging markets
Faster-growing, less-established markets. FTSE vs MSCI differ most here (Korea, and China share classes).
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VWO / VEMAX | Vanguard FTSE Emerging Markets | FTSE Emerging All Cap |
| SCHE | Schwab Emerging Markets | FTSE Emerging |
| IEMG | iShares Core MSCI EM | MSCI Emerging Markets IMI |
| SPEM | SPDR Portfolio Emerging Markets | S&P Emerging BMI |
Total international (developed + emerging)
All non-US stocks in one fund.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| VXUS / VTIAX | Vanguard Total International | FTSE Global All Cap ex US |
| IXUS | iShares Core MSCI Total International | MSCI ACWI ex US IMI |
| FTIHX | Fidelity Total International Index | MSCI ACWI ex US IMI variant |
US total bond
The broad US investment-grade bond market.
| Ticker(s) | Fund | Index tracked |
|---|---|---|
| BND / VBTLX | Vanguard Total Bond Market | Bloomberg US Aggregate Float-Adj |
| AGG | iShares Core US Aggregate Bond | Bloomberg US Aggregate |
| FXNAX | Fidelity US Bond Index | Bloomberg US Aggregate |
| SPAB | SPDR Portfolio Aggregate Bond | Bloomberg US Aggregate |
Note. Bonds are trickier: most total-bond funds track a version of the Bloomberg US Aggregate, so they may be closer to substantially identical than stock-fund pairs. Some harvesters instead pair with a government or corporate bond fund to be safe.
What about tax-gain harvesting?
The mirror image — deliberately selling at a gain, often to use up the 0% long-term capital-gains bracket and reset your cost basis higher — is a real strategy too. The key difference: the wash-sale rule does not apply to gains. It only disallows losses, so when you harvest a gain you can rebuy the identical fund immediately — no different-index partner needed.
The catch for custodial accounts. A child's or student's low income makes 0%-bracket gain harvesting appealing, but a minor's investment income is subject to the "kiddie tax": above a modest annual threshold it's taxed at the parents' rate, not the child's. Long-term rates also require a holding period over a year. As always, this is educational, not tax advice — check the current thresholds and your own situation.
A few practical cautions
- Harvesting defers tax; it doesn't erase it. Buying the replacement at today's lower price lowers your cost basis, so you may owe more later. The benefit is the time value of the deferred tax, plus up to $3,000/year of ordinary income offset.
- Only in taxable accounts. There's nothing to harvest in an IRA or 401(k) — and a buy there can actually spoil a harvest in your taxable account.
- Mind the partner's details. A good partner also has a low expense ratio and similar exposure; you'll often hold it afterward, so it shouldn't be a downgrade. Some people simply swap back after 31 days.
- Verify before you act. Funds occasionally change their benchmark. Confirm the current index in the prospectus.
Sources & method
Fund-to-index mappings compiled from fund prospectuses (verify before acting). The wash-sale rule and the “substantially identical” standard are set by IRC §1091 and described in IRS Publication 550.
Data
- Publication 550: Investment Income and Expenses (Wash Sales), Internal Revenue Service. The wash-sale rule (IRC §1091) and the “substantially identical” standard. The IRS does not define the term for funds tracking different indexes.
Educational use only, not financial advice. Every figure traces back to the sources above or to the inputs you set — the full method and the source code are public.