6 ETFIQ benchmarks for tax-aware and tax-sensitive allocation models. The rule, as the method states it, with x the stock share: “x% VT, (100 - x)% VTEB.” Launched on Oct 3, 2026.
Dots: each member’s stock share, measured through its funds’ holdings as of Jul 31, 2026. Labels: each rule’s stock share. A return marked * is hypothetical.
Over 10 years to Sep 30, 2026, the 6 tax-aware benchmarks returned +1.48% to +11.80% a year, hypothetical.
One sentence, recomputed every trading night. A benchmark is a rule, not a recommendation.
Family grid
Tax-aware family · weights in force since Aug 25, 2015
Weights by sleeve and by fund, then total returns: YTD to Oct 7, 2026, the trailing windows to Sep 30, 2026, annualised over 3 years and more. A row marked * is hypothetical as a whole.
Sleeve · fund
Municipal Bonds
Tax-Aware 20
Tax-Aware 40
Tax-Aware 60
Tax-Aware 80
Tax-Aware 95
Global stocks
0%
20%
40%
60%
80%
95%
VT
·
20%
40%
60%
80%
95%
Municipal bonds
100%
80%
60%
40%
20%
5%
VTEB
100%
80%
60%
40%
20%
5%
Stocks · bonds
0 · 100
20 · 80
40 · 60
60 · 40
80 · 20
95 · 5
YTD*hypothetical
−4.00%
−0.52%
+3.03%
+6.66%
+10.36%
+13.19%
1 year*hypothetical
−2.15%
+1.42%
+5.06%
+8.78%
+12.57%
+15.47%
3 years, annualised*hypothetical
+2.76%
+6.34%
+9.99%
+13.73%
+17.55%
+20.46%
5 years, annualised*hypothetical
−0.07%
+2.22%
+4.52%
+6.80%
+9.08%
+10.78%
10 years, annualised*hypothetical
+1.48%
+3.71%
+5.91%
+8.08%
+10.22%
+11.80%
The reference
All bonds
Strategic 20
Strategic 40
Strategic 60
Strategic 80
Strategic 95
1 year, percentage points against the reference*hypothetical
0.30 behind
0.25 behind
0.21 behind
0.15 behind
0.08 behind
0.02 behind
Construction rule.The family’s rule, as the method states it, with x the stock share: “x% VT, (100 - x)% VTEB.”Rebalanced on the last trading day of each month.*Returns before Oct 5, 2026 are hypothetical.The reference: ETFIQ Strategic at each member’s stock share; at 100%, All US stocks or All stocks, by the measured US share of the member’s stocks. The difference is the member’s printed 1-year total return less the reference’s.
The six members through each stress window
Rule version 1 · 11 windows since Jan 4, 2010
Every fall of VT of 10% or more and of AGG of 5% or more since Jan 4, 2010, found by a written rule on every run and chosen by no one. For each benchmark, its return from the close of the window’s first day to the close of its last, what $10,000 became, and its largest drawdown inside the window. A window outside a benchmark’s history, or only partly inside it, shows no figure for it: a window is never cut to fit.
Jan 11 to Feb 8, 2010
VT fell 10.76% from its peak, back at it on Apr 1, 2010
$10,000history starts Aug 25, 2015; the window ends before it
Member
Return
On $10,000
Max DD
Municipal Bonds
not published
Tax-Aware 20
not published
Tax-Aware 40
not published
Tax-Aware 60
not published
Tax-Aware 80
not published
Tax-Aware 95
not published
Apr 14 to Jun 7, 2010
VT fell 16.44% from its peak, back at it on Oct 13, 2010
$10,000history starts Aug 25, 2015; the window ends before it
Member
Return
On $10,000
Max DD
Municipal Bonds
not published
Tax-Aware 20
not published
Tax-Aware 40
not published
Tax-Aware 60
not published
Tax-Aware 80
not published
Tax-Aware 95
not published
Apr 29 to Oct 3, 2011
VT fell 23.83% from its peak, back at it on Jan 2, 2013
$10,000history starts Aug 25, 2015; the window ends before it
Member
Return
On $10,000
Max DD
Municipal Bonds
not published
Tax-Aware 20
not published
Tax-Aware 40
not published
Tax-Aware 60
not published
Tax-Aware 80
not published
Tax-Aware 95
not published
May 2 to Sep 5, 2013
AGG fell 5.14% from its peak, back at it on May 14, 2014
$10,000history starts Aug 25, 2015; the window ends before it
Member
Return
On $10,000
Max DD
Municipal Bonds
not published
Tax-Aware 20
not published
Tax-Aware 40
not published
Tax-Aware 60
not published
Tax-Aware 80
not published
Tax-Aware 95
not published
May 21, 2015 to Feb 11, 2016
VT fell 19.79% from its peak, back at it on Dec 13, 2016
$10,000history starts Aug 25, 2015; the window starts before it
Member
Return
On $10,000
Max DD
Municipal Bonds
not published
Tax-Aware 20
not published
Tax-Aware 40
not published
Tax-Aware 60
not published
Tax-Aware 80
not published
Tax-Aware 95
not published
Jan 26 to Dec 24, 2018
VT fell 19.97% from its peak, back at it on Oct 28, 2019
$10,000
Member
Return
On $10,000
Max 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%
Feb 12 to Mar 23, 2020
VT fell 34.23% from its peak, back at it on Aug 24, 2020
$10,000
Member
Return
On $10,000
Max 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%
Mar 6 to Mar 18, 2020
AGG fell 9.58% from its peak, back at it on May 21, 2020
$10,000
Member
Return
On $10,000
Max 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%
Aug 4, 2020 to Oct 20, 2022
AGG fell 18.44% from its peak, not yet back at it
$10,000
Member
Return
On $10,000
Max 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%
Nov 8, 2021 to Oct 12, 2022
VT fell 26.39% from its peak, back at it on Jan 29, 2024
$10,000
Member
Return
On $10,000
Max 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%
Feb 18 to Apr 8, 2025
VT fell 16.51% from its peak, back at it on May 16, 2025
$10,000
Member
Return
On $10,000
Max 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%
Questions people ask about the tax-aware benchmarks
What is an ETFIQ benchmark?
A rule over broad, low-cost ETFs, written down before its returns were looked at, that measures model portfolios the way the S&P 500 measures large US stocks. Its weights, rule and returns are published.
Can I invest in an ETFIQ benchmark?
No. A benchmark is a published yardstick, not a fund, and ETFIQ publishes no trades for any of them. It takes no payment from the issuer of any fund a benchmark holds.
Why are some returns hypothetical?
Each family’s rule is frozen on a stated date. Returns before it apply today’s rule and funds to earlier prices, which is look-ahead; returns from it are tracked. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias.
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.
