Tax-Aware Blend — Balanced Income

Target AllocationTax-Aware BlendTax-aware

40% Equity / 58% Fixed Income · Tax-Aware Blend implementation · Last reviewed 2026-05-17

Ask T. Rowe Price
ActiveConstruction v12Jan 2016Jul 2026Benchmark: Municipal Blend Composite

AI insights

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

Track record

Cumulative return · simulated

-10.4%-5.8%-1.2%+3.5%+8.1%202120222023202420252026
Model Benchmark

Jul 2026 Model +5.8% · Benchmark +2.8%

Past performance is not indicative of future results. Figures are simulated for prototype purposes.

Returns vs benchmark

Total return · Municipal Blend Composite

PeriodModelBenchExcess
1M+0.2%+0.3%-0.1%
3M+0.2%+0.3%-0.1%
YTD+0.5%+0.6%-0.0%
1Y+3.1%+3.2%-0.0%
3Y+2.9%+2.6%+0.3%
5Y+1.1%+0.6%+0.6%
Since inception+2.9%+2.3%+0.6%

Periods longer than one year are annualized.

About this model

Mandate, construction rules, and review policy

Objective
Seeks after-tax total return by pairing municipal fixed income with tax-managed equity exposure.
Purpose
Taxable account core
Characteristics
Tax-Aware Blend implementationMunicipal fixed income coreBalanced Income risk postureQuarterly rebalance review
Inception
2021-08-01
Net expense
0.34%
Estimated yield
2.66%
Turnover
14.4%

Asset class allocation

Across all sleeves · 8 holdings

  • Equity40.0%
  • Fixed income58.0%
  • Cash2.0%
View construction

Computed from the latest published sleeve weights.

Recent materials

Model Viewpoints, Trade Updates, and Factsheets

  • Factsheet — Tax-Aware Blend — Balanced Income

    Factsheet · 2026-06-21

    PDF
  • Trade Update — Tax-Aware Blend — Balanced Income

    Trade Update · 2026-05-20

    PDF
  • Model Viewpoint — Tax-Aware Blend — Balanced Income

    Model Viewpoint · 2026-04-19

    PDF