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Long Short

Generate up to 11x as many losses as traditional tax-loss harvesting

Generate up to 11x
as many losses as traditional tax-loss harvesting

Generate up to 11x as many losses as traditional tax-loss harvesting

Direct indexing with a short extension that harvests
tax losses on both sides of the market.

Direct indexing with a short extension
that harvests tax losses on both sides
of the market.

Direct indexing with a short extension that harvests tax losses on both sides of the market.

Get Started

Generate more tax returns

Generate more
tax returns

Seeks to potentially generate +3% more tax alpha than direct indexing.

Lower minimums

Lower
minimums

Get started with only $250K, compared to $1M minimums with certain others.

Tax-efficiency and flexibility

Tax-efficiency
and flexibility

Maintain tax efficiency while retaining daily liquidity and portfolio flexibility.

How does it work?

Have a concentrated position?

Long Short is built for moments when a large tax event is on the horizon, whether that is a concentrated stock position, a business sale, or a real estate liquidation.

The more concentrated the position, the more value Long Short can deliver. By generating losses on both sides of the market from day one, it gives you a tax-efficient path to diversification.

For illustrative purposes only. Does not represent actual client results.

Have a concentrated position?

Long Short is built for moments when a large tax event is on the horizon, whether that is a concentrated stock position, a business sale, or a real estate liquidation.

The more concentrated the position, the more value Long Short can deliver. By generating losses on both sides of the market from day one, it gives you a tax-efficient path to diversification.

For illustrative purposes only. Does not represent actual client results.

Have a concentrated position?

Long Short is built for moments when a large tax event is on the horizon, whether that is a concentrated stock position, a business sale, or a real estate liquidation.

The more concentrated the position, the more value Long Short can deliver. By generating losses on both sides of the market from day one, it gives you a tax-efficient path to diversification.

For illustrative purposes only. Does not represent actual client results.

Built by industry experts

Built by
industry experts

Vise invests in the talent and expertise it takes to bring leading strategies to every advisor's practice.

Speak to our team

Andy Waisburd

Co-Head of Investment Strategies

Andy spent the bulk of his career at Invesco, where he founded and ran their dedicated indexing business, led global portfolio management for their quantitative strategies group, and served as US Director of Research for their active quant business. He holds a PhD in Finance from Indiana University.

PREVIOUSLY AT

Andy Waisburd

Co-Head of Investment Strategies

Andy spent the bulk of his career at Invesco, where he founded and ran their dedicated indexing business, led global portfolio management for their quantitative strategies group, and served as US Director of Research for their active quant business. He holds a PhD in Finance from Indiana University.

PREVIOUSLY AT

Run the numbers yourself

with our calculator

Run the numbers yourself with our calculator

With Long Short 130/30, a portfolio of $1M could generate a return of $463,000 over 5 years

With Long Short 130/30, a portfolio of $1M could generate a return of $463,000 over 5 years

Start Saving

Start Saving

$
i
i
Total Loss Harvested
$731,000↑ 73.10%
1Y5Y

See detailed calculator

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for your tech stack.

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We help people solve for

selling real estate

concentrated stock positions

selling a business

PROFILE

Age

47

Occupation

Real Estate Investor

Portfolio Value

$4M

Embedded Gain

$2.8M

Profile

Marcus sold a portfolio of rental properties for $4M after holding them for 15 years. Between capital gains and depreciation recapture, the sale turns into one of the largest tax events of his life. He wants to redeploy the proceeds into a diversified portfolio, but a big slice would go to the IRS before a single dollar gets reinvested.

Strategy

Vise builds a 145/45 long-short direct index with Marcus's sale proceeds, generating losses daily from the short book. Those losses offset the gains from the sale, realized in tax-efficient tranches over 6 years on a $0 annual tax budget. He moves out of a single illiquid asset and into a diversified portfolio without handing the gain to the IRS.

LEVERAGE

145/45

TIME HORIZON

6 years

TAX LOSS HARVESTED

$22,000

TAX ALPHA

120bps

GAIN OFFSET

90%

PROFILE

Age

27

Occupation

Software Engineer

Portfolio Value

$750K

Concentration

33%

Profile

Sammie is a software engineer at Google with $250K in GOOGL from RSU vests over 5 years. Half of that is unrealized gains. She knows the concentration is risky but won't sell because the tax bill wipes out years of savings. Every earnings cycle she holds her breath and does nothing.

Strategy

Vise builds a 130/30 long-short direct index around her locked GOOGL position, generating losses daily from the short book. Those losses offset gains as GOOGL is sold in tax-efficient tranches over 5 years, with a $0 annual tax budget. She diversifies without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$2,480

TAX ALPHA

100bps

EXIT CONCENTRATION

8%

PROFILE

Age

38

Occupation

Founder

Portfolio Value

$5M

Embedded Gains

$4.2M

Profile

Maya spent 12 years building her company and just sold it for $5M. Most of that is gain, and the tax bill threatens to claw back years of the value she created. She wants to reinvest and diversify the proceeds, but every dollar she puts to work starts out behind once the IRS takes its cut.

Strategy

Vise builds a 130/30 long-short direct index with Maya's sale proceeds, generating losses daily from the short book. Those losses offset the capital gain from the sale, realized in tax-efficient tranches over 5 years on a $0 annual tax budget. She diversifies the windfall without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$16,500

TAX ALPHA

100bps

GAINS OFFSET

92%

We help people solve for

selling real estate

concentrated stock positions

selling a business

PROFILE

Age

47

Occupation

Real Estate Investor

Portfolio Value

$4M

Embedded Gain

$2.8M

Profile

Marcus sold a portfolio of rental properties for $4M after holding them for 15 years. Between capital gains and depreciation recapture, the sale turns into one of the largest tax events of his life. He wants to redeploy the proceeds into a diversified portfolio, but a big slice would go to the IRS before a single dollar gets reinvested.

Strategy

Vise builds a 145/45 long-short direct index with Marcus's sale proceeds, generating losses daily from the short book. Those losses offset the gains from the sale, realized in tax-efficient tranches over 6 years on a $0 annual tax budget. He moves out of a single illiquid asset and into a diversified portfolio without handing the gain to the IRS.

LEVERAGE

145/45

TIME HORIZON

6 years

TAX LOSS HARVESTED

$22,000

TAX
ALPHA

120bps

GAIN
OFFSET

90%

PROFILE

Age

27

Occupation

Software Engineer

Portfolio Value

$750K

Concentration

33%

Profile

Sammie is a software engineer at Google with $250K in GOOGL from RSU vests over 5 years. Half of that is unrealized gains. She knows the concentration is risky but won't sell because the tax bill wipes out years of savings. Every earnings cycle she holds her breath and does nothing.

Strategy

Vise builds a 130/30 long-short direct index around her locked GOOGL position, generating losses daily from the short book. Those losses offset gains as GOOGL is sold in tax-efficient tranches over 5 years, with a $0 annual tax budget. She diversifies without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$2,480

TAX
ALPHA

100bps

EXIT CONCENTRATION

8%

PROFILE

Age

38

Occupation

Founder

Portfolio Value

$5M

Embedded Gains

$4.2M

Profile

Maya spent 12 years building her company and just sold it for $5M. Most of that is gain, and the tax bill threatens to claw back years of the value she created. She wants to reinvest and diversify the proceeds, but every dollar she puts to work starts out behind once the IRS takes its cut.

Strategy

Vise builds a 130/30 long-short direct index with Maya's sale proceeds, generating losses daily from the short book. Those losses offset the capital gain from the sale, realized in tax-efficient tranches over 5 years on a $0 annual tax budget. She diversifies the windfall without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$16,500

TAX
ALPHA

100bps

GAINS
OFFSET

92%

We help people solve for

selling real estate

concentrated stock positions

selling a business

PROFILE

Age

47

Occupation

Real Estate Investor

Portfolio Value

$4M

Embedded Gain

$2.8M

Profile

Marcus sold a portfolio of rental properties for $4M after holding them for 15 years. Between capital gains and depreciation recapture, the sale turns into one of the largest tax events of his life. He wants to redeploy the proceeds into a diversified portfolio, but a big slice would go to the IRS before a single dollar gets reinvested.

Strategy

Vise builds a 145/45 long-short direct index with Marcus's sale proceeds, generating losses daily from the short book. Those losses offset the gains from the sale, realized in tax-efficient tranches over 6 years on a $0 annual tax budget. He moves out of a single illiquid asset and into a diversified portfolio without handing the gain to the IRS.

LEVERAGE

145/45

TIME HORIZON

6 years

TAX LOSS HARVESTED

$22,000

TAX ALPHA

120bps

GAIN OFFSET

90%

PROFILE

Age

27

Occupation

Software Engineer

Portfolio Value

$750K

Concentration

33%

Profile

Sammie is a software engineer at Google with $250K in GOOGL from RSU vests over 5 years. Half of that is unrealized gains. She knows the concentration is risky but won't sell because the tax bill wipes out years of savings. Every earnings cycle she holds her breath and does nothing.

Strategy

Vise builds a 130/30 long-short direct index around her locked GOOGL position, generating losses daily from the short book. Those losses offset gains as GOOGL is sold in tax-efficient tranches over 5 years, with a $0 annual tax budget. She diversifies without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$2,480

TAX ALPHA

100bps

EXIT CONCENTRATION

8%

PROFILE

Age

38

Occupation

Founder

Portfolio Value

$5M

Embedded Gains

$4.2M

Profile

Maya spent 12 years building her company and just sold it for $5M. Most of that is gain, and the tax bill threatens to claw back years of the value she created. She wants to reinvest and diversify the proceeds, but every dollar she puts to work starts out behind once the IRS takes its cut.

Strategy

Vise builds a 130/30 long-short direct index with Maya's sale proceeds, generating losses daily from the short book. Those losses offset the capital gain from the sale, realized in tax-efficient tranches over 5 years on a $0 annual tax budget. She diversifies the windfall without writing a check to the IRS.

LEVERAGE

130/30

TIME HORIZON

5 years

TAX LOSS HARVESTED

$16,500

TAX ALPHA

100bps

GAINS OFFSET

92%

For illustrative purposes only, actual results will vary. Vise simulations from 06/2005 to 06/2025. Based on 10-year rolling period simulations of an account incepted with cash and no additional inflows. Actual portfolio behavior may vary from these historical simulations. The Vise 145/45 strategy is a beta=1, long short extension portfolio with 45% leverage. The Vise Long only strategy is a traditional direct indexing strategy. (Change based on math of graph) Both strategies use Vise’s proprietary alpha signals. Hypothetical and backtested performance results are shown for informational purposes and are not guarantees of future performance.

Frequently asked questions

What's the minimum to get started?

$250K in taxable assets for 130/30 and 145/45 strategies, or $500K for 200/100 and 250/150. These are Vise's product minimums; your custodian may set a higher minimum. No accredited investor or qualified purchaser requirement. Clients need margin approval and short rebate program enrollment at Schwab, which we handle as part of onboarding.

How does shorting generate tax losses?

Traditional direct indexing only harvests losses when long positions decline, which dries up in bull markets. Long Short adds a second engine: short positions that generate losses when stocks rise. The result is harvesting capacity in any market environment, up to 5.9x more than long-only direct indexing over the first several years.

What leverage options are available?

Four tiers: 130/30, 145/45, 200/100, and 250/150. Higher leverage means more harvesting capacity. Availability varies by custodian. A 145/45 portfolio has historically harvested 100%+ of initial capital in losses within 7 years, compared to roughly 28% for long-only over 10 years.

How does this affect my client's 1099?

Short interest rebates appear as taxable income. Margin fees and dividend substitute payments are listed as expenses and can be claimed as an "Investment Interest Expense" deduction. We recommend clients work with their tax professional to ensure they're capturing the full benefit.

Can clients fund with existing holdings?

Yes. Clients can fund with cash, existing stock, fixed income, or ETFs and mutual funds. For clients with concentrated positions, Long Short creates loss capacity to diversify out of those positions gradually without the tax hit.

The portfolio built for your biggest client.
For every client.

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Terms of Use

1 Vise "Platform Assets" encompasses assets actively managed by Vise as well as assets that Vise aggregates, monitors, and uses to generate customized proposals. As of 6/1/2026.
2 This calculation is based on total realized losses as of 12/15/25 and assumes a long-term capital gains tax rate of 20% and a short-term capital gains tax rate of 41%.
3 Source: Cerulli Associates, U.S. Asset and Wealth Management Edition, 2021

Images and graphs on this page are for illustrative purposes only. Does not represent actual client results. Past performance does not guarantee future results.

Tax-Loss Harvesting Disclosures

Vise AI Advisors, LLC (“Vise”) is an SEC-registered investment adviser. The material presented is for informational purposes only and should not be construed as investment advice. It is not a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy, or investment product. Nothing on this website should be construed as personalized investment advice, which can only be provided in one-on-one communications.

Investing in securities involves risks, including the potential loss of money, and past performance does not guarantee future results. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes and may not reflect actual future performance.

Product images shown are for informational and illustrative purposes only and may not reflect how they will appear within the product. Third-party trademarks and service marks referenced are the property of their respective owners.


© 2026 Vise | Vise is a registered trademark of Vise Technologies, Inc.

The portfolio built
for your biggest client.
For every client.

Book a Demo

Product

Long Short

Direct Indexing

Resources

Calculator

Demo

Learn

Company

About

Team

Careers

Compare

Vestmark

Orion

Tamarac

55ip

Geowealth

Canvas

Parametric

521 Broadway
New York, NY 10012

+1 201 375 3969

Form ADV

Form CRS

Privacy Policy

Terms of Use

1 Vise "Platform Assets" encompasses assets actively managed by Vise as well as assets that Vise aggregates, monitors, and uses to generate customized proposals. As of 6/1/2026.
2 This calculation is based on total realized losses as of 12/15/25 and assumes a long-term capital gains tax rate of 20% and a short-term capital gains tax rate of 41%.
3 Source: Cerulli Associates, U.S. Asset and Wealth Management Edition, 2021

Images and graphs on this page are for illustrative purposes only. Does not represent actual client results. Past performance does not guarantee future results.

Tax-Loss Harvesting Disclosures

Vise AI Advisors, LLC (“Vise”) is an SEC-registered investment adviser. The material presented is for informational purposes only and should not be construed as investment advice. It is not a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy, or investment product. Nothing on this website should be construed as personalized investment advice, which can only be provided in one-on-one communications.

Investing in securities involves risks, including the potential loss of money, and past performance does not guarantee future results. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes and may not reflect actual future performance.

Product images shown are for informational and illustrative purposes only and may not reflect how they will appear within the product. Third-party trademarks and service marks referenced are the property of their respective owners.


© 2026 Vise | Vise is a registered trademark of Vise Technologies, Inc.

The portfolio built for your biggest client.
For every client.

Book a Demo

Product

Long Short

Direct Indexing

Resources

Calculator

Demo

Learn

Company

About

Team

Careers

Compare

Vestmark

Orion

Tamarac

55ip

Geowealth

Canvas

Parametric

521 Broadway
New York, NY 10012

+1 201 375 3969

Form ADV

Form CRS

Privacy Policy

Terms of Use

1 Vise "Platform Assets" encompasses assets actively managed by Vise as well as assets that Vise aggregates, monitors, and uses to generate customized proposals. As of 6/1/2026.
2 This calculation is based on total realized losses as of 12/15/25 and assumes a long-term capital gains tax rate of 20% and a short-term capital gains tax rate of 41%.
3 Source: Cerulli Associates, U.S. Asset and Wealth Management Edition, 2021

Images and graphs on this page are for illustrative purposes only. Does not represent actual client results. Past performance does not guarantee future results.

Tax-Loss Harvesting Disclosures

Vise AI Advisors, LLC (“Vise”) is an SEC-registered investment adviser. The material presented is for informational purposes only and should not be construed as investment advice. It is not a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy, or investment product. Nothing on this website should be construed as personalized investment advice, which can only be provided in one-on-one communications.

Investing in securities involves risks, including the potential loss of money, and past performance does not guarantee future results. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes and may not reflect actual future performance.

Product images shown are for informational and illustrative purposes only and may not reflect how they will appear within the product. Third-party trademarks and service marks referenced are the property of their respective owners.


© 2026 Vise | Vise is a registered trademark of Vise Technologies, Inc.