Tax-Aware Blend — Growth

Target AllocationTax-Aware BlendTax-aware

70% Equity / 28% Fixed Income · Tax-Aware Blend implementation · Last reviewed 2026-01-10

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 — Growth.

Volatility

6.9%

Annualized standard deviation

Max drawdown

-21.1%

Peak to trough

Sharpe ratio

0.12

2.4% risk-free rate

Equity exposure

70%

Strategic target

Risk statistics

Model versus benchmark, since inception

MeasureModelBench

Annualized return

Since inception, net of fund fees

3.2%2.6%

Standard deviation

Annualized volatility of monthly returns

6.9%6.8%

Sharpe ratio

Assumes a 2.4% risk-free rate

0.120.03

Max drawdown

Largest peak-to-trough decline

-21.1%-21.3%

Beta vs benchmark

Sensitivity to benchmark movements

0.961.00

Tracking error

Dispersion of excess return

2.4%0.0%

Historical drawdowns

How the model behaved through stress periods

  • COVID-19 selloff

    Jan 2020Mar 2020

    -22.8%

    Benchmark -23.9% · Model outperformed by 1.1 pts

  • 2022 rate shock

    Jan 2022Oct 2022

    -16.4%

    Benchmark -17.7% · Model outperformed by 1.3 pts

  • 2025 growth scare

    Feb 2025May 2025

    -7.9%

    Benchmark -8.6% · Model outperformed by 0.7 pts

Simulated stress results for illustration only.