Tax-Aware Blend — Balanced

Target AllocationTax-Aware BlendTax-aware

60% Equity / 38% Fixed Income · Tax-Aware Blend implementation · Last reviewed 2026-06-18

Ask T. Rowe Price
ActiveConstruction v11Jan 2016Jul 2026Benchmark: Municipal Blend Composite

AI insights

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

Track record

Cumulative return · simulated

-14.2%-6.7%+0.8%+8.2%+15.7%202120222023202420252026
Model Benchmark

Jul 2026 Model +12.3% · Benchmark +8.1%

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

Returns vs benchmark

Total return · Municipal Blend Composite

PeriodModelBenchExcess
1M+0.1%-0.1%+0.1%
3M-0.5%-0.7%+0.3%
YTD+4.1%+3.8%+0.3%
1Y+6.8%+6.4%+0.4%
3Y+5.1%+4.6%+0.4%
5Y+2.3%+1.6%+0.8%
Since inception+3.1%+2.6%+0.5%

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 risk postureQuarterly rebalance review
Inception
2022-09-01
Net expense
0.30%
Estimated yield
2.14%
Turnover
21.4%

Asset class allocation

Across all sleeves · 8 holdings

  • Equity60.0%
  • Fixed income38.0%
  • Cash2.0%
View construction

Computed from the latest published sleeve weights.

Recent materials

Model Viewpoints, Trade Updates, and Factsheets

  • Trade Update — Tax-Aware Blend — Balanced

    Trade Update · 2026-06-23

    PDF
  • Model Viewpoint — Tax-Aware Blend — Balanced

    Model Viewpoint · 2026-05-22

    PDF
  • Factsheet — Tax-Aware Blend — Balanced

    Factsheet · 2026-01-24

    PDF