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ETFIQ Tax-Aware, 40% stocks benchmark

Tax-aware family · 30 to 50% band
Rules-based benchmarkRebalanced monthlySeries from Aug 25, 2015 · tracked from Oct 5, 2026Method v1.3
Share on XCompare up to five

ETFIQ is an independent publisher of exchange-traded fund data. It is not a fund issuer, broker-dealer or investment adviser, takes no payment from issuers, and makes no recommendations.

Over 10 years to Sep 30, 2026, ETFIQ Tax-Aware, 40% stocks, had a total return of +5.91% a year, hypothetical.

One sentence, recomputed nightly. A benchmark is a rule, not a recommendation.

Stock-share scale

Holdings as of Jul 31, 2026

Five bands, open below and closed above: 15 to 30, 30 to 50, 50 to 70, 70 to 85, over 85. The portfolio is a dot with its figure, date and band. Under 15% is not a band and is drawn as empty track.

15%
30%
50%
70%
85%
39.60% stocks on Jul 31, 2026 · band 30 to 50%
0100% stocks
Bands alternate two greys so their edges read without colour.Text equivalent: "39.60% of holdings in stocks on Jul 31, 2026, in the 30 to 50% band; the rule holds 40%."

Growth of $10,000

Trailing ranges end on Sep 30, 2026, All on Oct 7, 2026. The hypothetical span is dashed and shaded; the largest drawdown is shaded and dated under the chart. Computed by ETFIQ from Tiingo daily prices.

Growth of $10,000 over 1Y, Sep 30, 2025 to Sep 30, 2026: ETFIQ Tax-Aware, 40% stocks ends at $10,506, Strategic 40 at $10,527, hypothetical.$11,262$10,725$10,187$9,650hypothetical · the current rule applied to past prices$10,506$10,5272025 Sep2025 Dec2026 Apr2026 Jul2026 Sep
ETFIQ Tax-Aware, 40% stocksStrategic 40, the referenceHypotheticalLargest drawdown −5.27%, Feb 25, 2026 to Mar 27, 2026
Value of $10,000 at six points from Sep 30, 2025 to Sep 30, 2026; the same numbers as the chart, hypothetical.
Value onSep 30, 2025Dec 10, 2025Feb 24, 2026May 7, 2026Jul 21, 2026Sep 30, 2026
Tax-Aware 40$10,000$10,200$10,521$10,661$10,749$10,506
Reference$10,000$10,176$10,467$10,585$10,635$10,527
Growth of $10,000 over 3Y, Sep 29, 2023 to Sep 30, 2026: ETFIQ Tax-Aware, 40% stocks ends at $13,307, Strategic 40 at $13,610, hypothetical.$14,395$12,750$11,106$9,462hypothetical · the current rule applied to past prices$13,307$13,61020232024202520252026
ETFIQ Tax-Aware, 40% stocksStrategic 40, the referenceHypotheticalLargest drawdown −8.89%, Dec 6, 2024 to Apr 8, 2025
Value of $10,000 at six points from Sep 29, 2023 to Sep 30, 2026; the same numbers as the chart, hypothetical.
Value onSep 29, 2023May 6, 2024Dec 10, 2024Jul 21, 2025Feb 25, 2026Sep 30, 2026
Tax-Aware 40$10,000$11,137$11,906$12,104$13,375$13,307
Reference$10,000$11,039$11,904$12,433$13,574$13,610
Growth of $10,000 over 5Y, Sep 30, 2021 to Sep 30, 2026: ETFIQ Tax-Aware, 40% stocks ends at $12,472, Strategic 40 at $12,265, hypothetical.$13,327$11,558$9,789$8,021hypothetical · the current rule applied to past prices$12,472$12,26520212022202420252026
ETFIQ Tax-Aware, 40% stocksStrategic 40, the referenceHypotheticalLargest drawdown −17.27%, Dec 27, 2021 to Sep 30, 2022
Value of $10,000 at six points from Sep 30, 2021 to Sep 30, 2026; the same numbers as the chart, hypothetical.
Value onSep 30, 2021Sep 29, 2022Sep 29, 2023Sep 27, 2024Sep 30, 2025Sep 30, 2026
Tax-Aware 40$10,000$8,574$9,372$11,047$11,872$12,472
Reference$10,000$8,357$9,012$10,745$11,652$12,265
Growth of $10,000 over 10Y, Sep 30, 2016 to Sep 30, 2026: ETFIQ Tax-Aware, 40% stocks ends at $17,754, Strategic 40 at $17,376, hypothetical.$18,991$15,807$12,623$9,439hypothetical · the current rule applied to past prices$17,754$17,37620162019202120242026
ETFIQ Tax-Aware, 40% stocksStrategic 40, the referenceHypotheticalLargest drawdown −21.93%, Feb 19, 2020 to Mar 19, 2020
Value of $10,000 at six points from Sep 30, 2016 to Sep 30, 2026; the same numbers as the chart, hypothetical.
Value onSep 30, 2016Sep 28, 2018Sep 29, 2020Sep 27, 2022Sep 27, 2024Sep 30, 2026
Tax-Aware 40$10,000$11,186$12,651$12,198$15,726$17,754
Reference$10,000$11,042$12,850$11,756$15,222$17,376
Growth of $10,000 over the whole series, Aug 25, 2015 to Oct 7, 2026: ETFIQ Tax-Aware, 40% stocks ends at $19,427, Strategic 40 at $19,007, hypothetical.$20,625$16,946$13,266$9,587hypothetical · the current rule applied to past pricestracked$19,427$19,00720152018202120232026
ETFIQ Tax-Aware, 40% stocksStrategic 40, the referenceHypotheticalLargest drawdown −21.93%, Feb 19, 2020 to Mar 19, 2020
Value of $10,000 at six points from Aug 25, 2015 to Oct 7, 2026; the same numbers as the chart, hypothetical.
Value onAug 25, 2015Nov 10, 2017Feb 4, 2020Apr 22, 2022Jul 16, 2024Oct 7, 2026
Tax-Aware 40$10,000$11,893$13,615$14,558$16,830$19,427
Reference$10,000$11,749$13,493$14,242$16,053$19,007

Facts

As of Oct 7, 2026
Family · band
Tax-aware · 30 to 50%
Stock share, the rule
40%
Stock share, measured
39.60%
Rebalance
Rebalanced on the last trading day of each month
Cash rate
Treasury 13-week bill rate
Fee treatment
Fund fees inside prices; nothing else deducted
Start of series
Aug 25, 2015
Base date
Aug 25, 2015 = $10,000
Tracked from
Oct 5, 2026
Method version
v1.3

ETFIQ takes no payment from any fund company. A benchmark is a rule, not a recommendation.

Return table

Prices to Oct 7, 2026
YTD*1Y*3Y*5Y*10Y*Since start*
ETFIQ Tax-Aware, 40% stocks+3.03%+5.06%+9.99%+4.52%+5.91%+5.99%
Strategic 40, the reference+3.93%+5.27%+10.82%+4.17%+5.68%+5.78%
Difference−0.90−0.21−0.83+0.35+0.23+0.21

*Hypothetical as a whole: the window begins before the tracked date, Oct 5, 2026. YTD and 1Y are total returns; 3Y, 5Y, 10Y and since start are annualised; the difference row is the two figures above it subtracted, in percentage points. Series starts Aug 25, 2015; tracked from Oct 5, 2026. The reference: the strategic member at stock share 40.

Risk by window

Prices to Sep 30, 2026
Measure3 years*5 years*10 years*
PortfolioReferencePortfolioReferencePortfolioReference
Volatility (annualised)
Sample standard deviation of monthly returns, times the square root of 12
7.42%7.25%9.10%9.18%8.04%7.93%
Maximum drawdown
Largest fall from a peak to a later low, on daily values, in the window
−8.89% (Dec 6, 2024 to Apr 8, 2025)−6.47% (Dec 6, 2024 to Apr 8, 2025)−17.27% (Dec 27, 2021 to Sep 30, 2022)−20.32% (Nov 9, 2021 to Oct 14, 2022)−21.93% (Feb 19 to Mar 19, 2020)−20.32% (Nov 9, 2021 to Oct 14, 2022)
Worst month
Lowest single calendar-month return
−3.79% (Mar 2026)−3.54% (Mar 2026)−5.62% (Sep 2022)−6.31% (Sep 2022)−8.00% (Mar 2020)−6.49% (Mar 2020)
Sharpe on T-bills
Return over the Treasury 13-week bill rate, per unit of volatility, monthly
0.720.840.110.070.450.42
Beta to the reference
Sensitivity to the reference’s monthly moves
1.00not published0.98not published0.99not published
Up capture
Share of the reference’s gains kept in its up months
96.08%not published99.15%not published101.13%not published
Down capture
Share of the reference’s losses taken in its down months
101.96%not published95.91%not published99.26%not published

*Hypothetical as a whole: the window begins before the tracked date, Oct 5, 2026. Not published: the reference’s beta and captures. A reference measured against itself.

Calendar years with percentile in band

Band 30 to 50% · prices to Oct 7, 2026
YearTax-Aware 40Strategic 40, the referenceBand medianPercentile · fundsBand low to high
2026 to Oct 7, 2026*+3.03%+3.93%not publishednot publishednot published
2025*+10.94%+13.13%not publishednot publishednot published
2024*+7.22%+7.23%not publishednot publishednot published
2023*+12.36%+12.05%not publishednot publishednot published
2022*−11.86%−14.84%not publishednot publishednot published
2021*+7.81%+5.92%not publishednot publishednot published
2020*+10.34%+11.92%not publishednot publishednot published
2019*+15.03%+15.87%not publishednot publishednot published
2018*−3.19%−3.78%not publishednot publishednot published
2017*+12.36%+11.52%not publishednot publishednot published
2016*+3.62%+5.02%not publishednot publishednot published
2015not publishednot publishednot publishednot publishednot published

*Hypothetical: the year starts before Oct 5, 2026, when the tracked record starts. Not published: 2015. The history starts 2015-08-25, after the last close of December 2014. Not published: the band median, percentile and range. ETFIQ has not placed allocation funds in bands yet, so there is no set to take a percentile in.

Stress windows

Rule version 1 · prices to each window’s last close

11 windows, found by the published rule on every run: each card draws the family’s members from $10,000 at the window’s first close, with the return, the dollars and the largest drawdown inside it.

VT fell 10.76%
Jan 11 to Feb 8, 2010
$10,000Jan 11 to Feb 8, 2010: 0 of 6 members from $10,000 on one scale.
MemberReturnOn $10,000Max DD
Municipal Bondsno history
Tax-Aware 20no history
Tax-Aware 40no history
Tax-Aware 60no history
Tax-Aware 80no history
Tax-Aware 95no history

Not shown, outside a member’s history: Municipal Bonds: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 20: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 40: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 60: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 80: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 95: outside its history (its history runs 2015-08-25 to 2026-10-07).

VT fell 16.44%
Apr 14 to Jun 7, 2010
$10,000Apr 14 to Jun 7, 2010: 0 of 6 members from $10,000 on one scale.
MemberReturnOn $10,000Max DD
Municipal Bondsno history
Tax-Aware 20no history
Tax-Aware 40no history
Tax-Aware 60no history
Tax-Aware 80no history
Tax-Aware 95no history

Not shown, outside a member’s history: Municipal Bonds: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 20: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 40: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 60: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 80: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 95: outside its history (its history runs 2015-08-25 to 2026-10-07).

VT fell 23.83%
Apr 29 to Oct 3, 2011
$10,000Apr 29 to Oct 3, 2011: 0 of 6 members from $10,000 on one scale.
MemberReturnOn $10,000Max DD
Municipal Bondsno history
Tax-Aware 20no history
Tax-Aware 40no history
Tax-Aware 60no history
Tax-Aware 80no history
Tax-Aware 95no history

Not shown, outside a member’s history: Municipal Bonds: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 20: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 40: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 60: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 80: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 95: outside its history (its history runs 2015-08-25 to 2026-10-07).

AGG fell 5.14%
May 2 to Sep 5, 2013
$10,000May 2 to Sep 5, 2013: 0 of 6 members from $10,000 on one scale.
MemberReturnOn $10,000Max DD
Municipal Bondsno history
Tax-Aware 20no history
Tax-Aware 40no history
Tax-Aware 60no history
Tax-Aware 80no history
Tax-Aware 95no history

Not shown, outside a member’s history: Municipal Bonds: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 20: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 40: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 60: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 80: outside its history (its history runs 2015-08-25 to 2026-10-07); Tax-Aware 95: outside its history (its history runs 2015-08-25 to 2026-10-07).

VT fell 19.79%
May 21, 2015 to Feb 11, 2016
$10,000May 21, 2015 to Feb 11, 2016: 0 of 6 members from $10,000 on one scale.
MemberReturnOn $10,000Max DD
Municipal Bondsno history
Tax-Aware 20no history
Tax-Aware 40no history
Tax-Aware 60no history
Tax-Aware 80no history
Tax-Aware 95no history

Not shown, outside a member’s history: Municipal Bonds: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit; Tax-Aware 20: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit; Tax-Aware 40: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit; Tax-Aware 60: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit; Tax-Aware 80: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit; Tax-Aware 95: partly outside its history (its history runs 2015-08-25 to 2026-10-07); a window is never cut to fit.

VT fell 19.97%
Jan 26 to Dec 24, 2018
$10,000Jan 26 to Dec 24, 2018: 6 of 6 members from $10,000 on one scale: Municipal Bonds $10,169; Tax-Aware 20 $9,712; Tax-Aware 40 $9,268; Tax-Aware 60 $8,834; Tax-Aware 80 $8,413; Tax-Aware 95 $8,104.
MemberReturnOn $10,000Max DD
Municipal Bonds+1.69%$10,169−1.80%
Tax-Aware 20−2.88%$9,712−2.93%
Tax-Aware 40−7.32%$9,268−7.32%
Tax-Aware 60−11.66%$8,834−11.66%
Tax-Aware 80−15.87%$8,413−15.87%
Tax-Aware 95−18.96%$8,104−18.96%
VT fell 34.23%
Feb 12 to Mar 23, 2020
$10,000Feb 12 to Mar 23, 2020: 6 of 6 members from $10,000 on one scale: Municipal Bonds $9,028; Tax-Aware 20 $8,501; Tax-Aware 40 $7,992; Tax-Aware 60 $7,502; Tax-Aware 80 $7,031; Tax-Aware 95 $6,689.
MemberReturnOn $10,000Max DD
Municipal Bonds−9.72%$9,028−17.00%
Tax-Aware 20−14.99%$8,501−18.87%
Tax-Aware 40−20.08%$7,992−21.93%
Tax-Aware 60−24.98%$7,502−25.39%
Tax-Aware 80−29.69%$7,031−29.69%
Tax-Aware 95−33.11%$6,689−33.11%
AGG fell 9.58%
Mar 6 to Mar 18, 2020
$10,000Mar 6 to Mar 18, 2020: 6 of 6 members from $10,000 on one scale: Municipal Bonds $8,751; Tax-Aware 20 $8,555; Tax-Aware 40 $8,357; Tax-Aware 60 $8,159; Tax-Aware 80 $7,960; Tax-Aware 95 $7,811.
MemberReturnOn $10,000Max DD
Municipal Bonds−12.49%$8,751−12.77%
Tax-Aware 20−14.45%$8,555−14.45%
Tax-Aware 40−16.43%$8,357−16.43%
Tax-Aware 60−18.41%$8,159−18.41%
Tax-Aware 80−20.40%$7,960−20.40%
Tax-Aware 95−21.89%$7,811−21.89%
AGG fell 18.44%, not yet regained
Aug 4, 2020 to Oct 20, 2022
$10,000Aug 4, 2020 to Oct 20, 2022: 6 of 6 members from $10,000 on one scale: Municipal Bonds $9,093; Tax-Aware 20 $9,390; Tax-Aware 40 $9,679; Tax-Aware 60 $9,957; Tax-Aware 80 $10,225; Tax-Aware 95 $10,419.
MemberReturnOn $10,000Max DD
Municipal Bonds−9.07%$9,093−11.70%
Tax-Aware 20−6.10%$9,390−14.32%
Tax-Aware 40−3.21%$9,679−17.27%
Tax-Aware 60−0.43%$9,957−20.21%
Tax-Aware 80+2.25%$10,225−23.24%
Tax-Aware 95+4.19%$10,419−25.60%
VT fell 26.39%
Nov 8, 2021 to Oct 12, 2022
$10,000Nov 8, 2021 to Oct 12, 2022: 6 of 6 members from $10,000 on one scale: Municipal Bonds $9,012; Tax-Aware 20 $8,669; Tax-Aware 40 $8,332; Tax-Aware 60 $8,002; Tax-Aware 80 $7,678; Tax-Aware 95 $7,440.
MemberReturnOn $10,000Max DD
Municipal Bonds−9.88%$9,012−11.40%
Tax-Aware 20−13.31%$8,669−14.32%
Tax-Aware 40−16.68%$8,332−17.27%
Tax-Aware 60−19.98%$8,002−20.21%
Tax-Aware 80−23.22%$7,678−23.22%
Tax-Aware 95−25.60%$7,440−25.60%
VT fell 16.51%
Feb 18 to Apr 8, 2025
$10,000Feb 18 to Apr 8, 2025: 6 of 6 members from $10,000 on one scale: Municipal Bonds $9,685; Tax-Aware 20 $9,408; Tax-Aware 40 $9,136; Tax-Aware 60 $8,869; Tax-Aware 80 $8,606; Tax-Aware 95 $8,413.
MemberReturnOn $10,000Max DD
Municipal Bonds−3.15%$9,685−4.28%
Tax-Aware 20−5.92%$9,408−6.32%
Tax-Aware 40−8.64%$9,136−8.71%
Tax-Aware 60−11.31%$8,869−11.31%
Tax-Aware 80−13.94%$8,606−13.94%
Tax-Aware 95−15.87%$8,413−15.87%

The rule. A fall of VT of 10% or more, and a fall of AGG of 5% or more, measured exactly on the published adjusted closes. A fall of 9.99% in VT is not a window. A window runs from its peak close to its trough close, both days included, and is named by them. Rule version 1.

Holdings

Weights in force since Aug 25, 2015
FundSleeveWeightFee
VTEB Vanguard Tax-Exempt Bond ETFMunicipal bonds60%0.03%
VT Vanguard Total World Stock Index ETFGlobal stocks40%0.06%

The weights the rule sets at each rebalance, in force since Aug 25, 2015. Each fund’s expense ratio is from its prospectus, as of Feb 27, 2026.

Exposures against the reference

Holdings as of Jul 31, 2026
Stocks39.60%39.60%level
Where it comes from: VT 39.60
Preferred shares0.10%0.10%level
Where it comes from: VT 0.10
Bonds59.36%59.17%0.19 points over
Where it comes from: VTEB 59.36
Funds0.00%0.00%level
Other, including cash0.94%1.12%0.18 points under
Where it comes from: VT 0.30 · VTEB 0.64
U.S. stocks24.64%24.64%level
Where it comes from: VT 24.64
Non-U.S. stocks14.96%14.96%level
Where it comes from: VT 14.96
Municipal bonds59.36%
Where it comes from: VTEB 59.36
Sectors
not published (no held fund with stocks publishes sector shares)
Bonds by issuer, Government
not published (no held fund with bonds publishes a government share of its bonds)
Bonds by issuer, Corporate
not published (no held fund with bonds publishes a corporate share of its bonds)

Percent of the portfolio, looked through to each fund’s filings. The lower bar is Strategic 40, by the same rule; the difference is in percentage points. Not published: Municipal bonds for the reference. The reference publishes no such row.

Factor loadings

132 months to Aug 31, 2026

Regression of monthly excess returns on the five Fama-French factors and momentum, by least squares, with a t statistic for each.

Market (Mkt-RF) 0.45 (t 19.88)not published
Size (SMB) −0.01 (t −0.33)not published
Value (HML) −0.01 (t −0.36)not published
Profitability (RMW) −0.01 (t −0.18)not published
Investment (CMA) 0.03 (t 0.67)not published
Momentum (Mom) −0.01 (t −0.34)not published

R² 0.80. Factor returns from the Kenneth R. French data library, as named in Sources. Loadings over a span that begins before Oct 5, 2026 are hypothetical. Not published: the lower bar and the difference. The reference’s loadings cover Jan 29, 2010 to Aug 31, 2026, not the same months as these, Aug 31, 2015 to Aug 31, 2026.

Turnover

12 months to Sep 30, 2026 · 6.77% a year

Share of the benchmark traded each month, from the rule’s rebalances.

Oct 2025Every month a reset to the same targetsSep 2026

Each month is the sum of its rebalances’ turnover, one side of the trades over the portfolio; the 12 add up to 6.77% a year. Trading costs are not deducted from the returns. Since Aug 31, 2015: 8.48% a year.

Look-through holdings

Books as of Aug 31, 2026

99.85% of the portfolio seen through to securities; 0.15% unmatched (rows with no ETFIQ security id, never ranked). Percent of the gross long weight; negative lines, such as cash owed and written options, net −0.14% of the portfolio. Matched by ETFIQ security id (all 2 books read carry a sid for every row). Books: VT Aug 31, 2026, VTEB Aug 31, 2026.

#SecurityShare of portfolioHeld by
1
NVIDIA Corp NVDA
Held by VT 1.73
 1.73%1 of 2 funds
2
Apple Inc AAPL
Held by VT 1.54
 1.54%1 of 2 funds
3
Microsoft Corp MSFT
Held by VT 1.26
 1.26%1 of 2 funds
4
Amazon.com Inc AMZN
Held by VT 0.85
 0.85%1 of 2 funds
5
Alphabet Inc GOOGL
Held by VT 0.67
 0.67%1 of 2 funds
6
Taiwan Semiconductor Manufacturing Co Ltd
Held by VT 0.61
 0.61%1 of 2 funds
7
Broadcom Inc AVGO
Held by VT 0.58
 0.58%1 of 2 funds
8
Alphabet Inc GOOG
Held by VT 0.53
 0.53%1 of 2 funds
9
Vanguard Municipal Low Duration Fund CMT
Held by VTEB 0.49
 0.49%1 of 2 funds
10
Meta Platforms Inc META
Held by VT 0.42
 0.42%1 of 2 funds
11
Micron Technology Inc MU
Held by VT 0.36
 0.36%1 of 2 funds
12
Tesla Inc TSLA
Held by VT 0.36
 0.36%1 of 2 funds
13
JPMorgan Chase & Co JPM
Held by VT 0.32
 0.32%1 of 2 funds
14
Eli Lilly & Co LLY
Held by VT 0.31
 0.31%1 of 2 funds
15
Samsung Electronics Co Ltd
Held by VT 0.29
 0.29%1 of 2 funds
16
Berkshire Hathaway Inc
Held by VT 0.28
 0.28%1 of 2 funds
17
Advanced Micro Devices Inc AMD
Held by VT 0.26
 0.26%1 of 2 funds
18
MKTLIQ
Held by VT 0.24
 0.24%1 of 2 funds
19
SLBBH1142
Held by VT 0.23
 0.23%1 of 2 funds
20
SK hynix Inc
Held by VT 0.23
 0.23%1 of 2 funds
21
ExxonMobil Holdings Corp XOM
Held by VT 0.22
 0.22%1 of 2 funds
22
ASML Holding NV ASML
Held by VT 0.22
 0.22%1 of 2 funds
23
Johnson & Johnson JNJ
Held by VT 0.21
 0.21%1 of 2 funds
24
Visa Inc V
Held by VT 0.21
 0.21%1 of 2 funds
25
Mastercard Inc MA
Held by VT 0.16
 0.16%1 of 2 funds

The 25 largest of 20,800 securities matched across 2 funds; each row opens to list the funds that hold it.

Costs

Fees from prospectuses, Feb 27, 2026
LayerA yearOn $10,000Source · date
Weighted fund fee0.04%$4.20Prospectuses · Feb 27, 2026

Weighted expense ratio 0.04%, each weight times its fund’s expense ratio. It is already inside the returns below.

Change log

Every target-weight change since Aug 25, 2015 · newest first
2015*
DateHoldingOldNewReason
Aug 25, 2015VTEBnot held60.00%Initial allocation
Aug 25, 2015VTnot held40.00%Initial allocation

*A change before Oct 5, 2026 is hypothetical: the rule applied to earlier prices. 134 drift rebalances between Aug 25, 2015 and Oct 7, 2026 reset the weights to these targets; they are counted, not listed.

Method, definitions and disclosures

Methodology v1.3 · read it
Total return
Value at the end over value at the start, minus 1: distributions reinvested, each fund’s fees inside its price.
Annualised
(1 + total return) to the power 12 over the number of whole months, minus 1; from 12 months.
Volatility
Sample standard deviation of monthly returns, times the square root of 12; from 36 monthly returns.
Maximum drawdown
The largest fall from a peak to a later low, on daily values, with the dates of both.
Sharpe on T-bills
12 times the mean monthly return over the Treasury 13-week bill rate, over the square root of 12 times its standard deviation; from 36 months.
Turnover
The trading of the rebalances inside the window, a year, the start excluded.

The rule: 40% VT and 60% VTEB, rebalanced on the last trading day of each month. The tax-aware family’s rule, as the method states it: “x% VT, (100 - x)% VTEB.” Methodology version 1.3; launched on Oct 3, 2026, when ETFIQ froze the family’s rule. Every weight follows from the rule and public facts.

Launched on Oct 3, 2026, when ETFIQ froze its rule. Figures before Oct 5, 2026 are hypothetical: today’s rule and funds applied to earlier prices, which is look-ahead. From Oct 5, 2026 the record is tracked, and a window that starts before it is hypothetical as a whole.

Total returns are market price with distributions reinvested, net of each fund’s own fees, with nothing else deducted. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias. Data sourced by Tiingo.

Questions people ask about Tax-Aware, 40% stocks

What is ETFIQ Tax-Aware, 40% stocks?
A rules-based benchmark: 40% VT and 60% VTEB, rebalanced on the last trading day of each month. ETFIQ publishes it to measure tax-aware and tax-sensitive allocation models with about 40% in stocks. It is not a fund and cannot be bought.
Is ETFIQ Tax-Aware, 40% stocks a recommendation?
No. It is a yardstick, the same for everyone, and every weight follows from a written rule and public facts. ETFIQ publishes no trades for it and takes no payment from the issuer of any fund it holds.
Why are some of its returns hypothetical?
ETFIQ froze the rule on Oct 3, 2026. Returns before Oct 5, 2026 apply today’s rule and funds to earlier prices, which is look-ahead; returns from that date are tracked. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias.
Where to next
Every tax-aware benchmark →Compare up to five →How the benchmarks are built →Every benchmark →Core funds →Look a portfolio through →Every method →Every model, side by side →
Sources and credit
Prices and distributions, every fund heldData sourced by Tiingo · computed by ETFIQ from Tiingo daily prices · Oct 7, 2026 ↗Holdings, each fundETFIQ open data: each fund’s book and its N-PORT factsThe T-bill rate, for the Sharpe ratioU.S. Treasury daily bill rates ↗Fees and prospectuses, each fundEach fund’s page, with its prospectus and feeFactor returns, for the loadingsKenneth R. French data library ↗The rule, v1.3How the ETFIQ benchmarks are built

ETFIQ takes no payment from any fund company. A link is not an endorsement. Figures are calculated by ETFIQ from the sources above and are free to use with attribution.

Cite this page

ETFIQ, ETFIQ Tax-Aware, 40% stocks benchmark, data as of Oct 7, 2026. https://etfiq.com/benchmarks/tax-aware-40/

Open data →
CSVholdingsreturnscalendar yearsrisk and cost

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data. Figures before Oct 5, 2026 are hypothetical.