Tax-Aware Blend — Conservative

Target AllocationTax-Aware BlendTax-aware

20% Equity / 78% Fixed Income · Tax-Aware Blend implementation · Last reviewed 2026-03-15

Ask T. Rowe Price
ActiveConstruction v13Jan 2016Jul 2026Benchmark: Municipal Blend Composite

AI insights

Generate a briefing on positioning, performance, and risk for Tax-Aware Blend — Conservative.

Target allocation

Strategic weights at the asset class level

  • 20.0% Equity
  • 78.0% Fixed Income
  • 2.0% Cash

Construction rules

Tax-Aware Blend · Tax-Aware Blend

  • Rebalance policy

    Reviewed quarterly by the Asset Allocation Committee, with drift bands of ±3% at the asset class level and ±1.5% at the sleeve level.

  • Implementation

    Active strategies paired with index building blocks to balance conviction and cost.

  • Tax treatment

    Municipal fixed income core with tax-managed equity sleeves for taxable accounts.

  • Minimum

    $25,000 recommended account minimum for full replication.

Construction v13 · Last reviewed 2026-03-15

Sleeve weights

Underlying strategies and target weights

  • US Large-Cap Growth3.8%
  • US Large-Cap Value6.4%
  • US Equity Index5.3%
  • Small-Mid Cap Core4.5%
  • Intermediate Tax-Free Bond15.3%
  • Short-Term Municipal28.6%
  • Municipal Credit Opportunities34.1%
  • Government Money Market2.0%

Weights are targets and will drift with market movement between rebalances.