Direct Indexing for Tax-Loss Harvesting in 2026: The Loss Machine ETFs Cannot Build
US direct indexing harvests losses stock-by-stock in an SMA — wash-sale rules and tax alpha ETFs cannot match in 2026.
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Direct Indexing
Separately managed account strategies for tracking an index by owning the underlying stocks directly, enabling per-security tax-loss harvesting, customization, and tax-alpha generation beyond what ETFs can deliver