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.

YTD return

+1.3%

Benchmark +1.1%

1 year

+3.4%

Excess 0.5 pts

Since inception

2.3%

Annualized

Net expense

0.27%

Weighted across 8 sleeves

Growth of a hypothetical investment

20% Equity / 78% Fixed Income vs Municipal Blend Composite

-4.4%+4.7%+13.7%+22.7%+31.7%201620182020202220242026
Model Benchmark

Jul 2026 Model +27.6% · Benchmark +20.9%

Simulated results for illustration only. Past performance is not indicative of future results.

Calendar year returns

Model versus benchmark, by year

2017+4.9
2018+3.0
2019+3.5
2020+2.2
2021+5.3
2022-10.3
2023+5.1
2024+2.8
2025+4.6
2026+1.3
Model Benchmark

Best year 2021 (5.3%) · Weakest year 2022 (-10.3%)

Trailing returns

Annualized beyond one year

PeriodModelBenchExcess
1M-0.3%-0.4%+0.1%
3M-0.5%-0.7%+0.2%
YTD+1.3%+1.1%+0.2%
1Y+3.4%+2.9%+0.5%
3Y+3.8%+3.3%+0.5%
5Y+0.9%+0.4%+0.5%
Since inception+2.3%+1.8%+0.5%