T. Rowe Price model portfolios
A new model for success
On average, financial professionals spend 43 days a year on investment management. Streamline the process with model portfolios. It’s all about pursuing better outcomes—starting with more time to grow your practice.
Stay updated on the latest allocation changes across our model portfolio suite with this quick video from our investments team.
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Wide-ranging solutions
Investment solutions to meet a variety of client goals supported by a leading multi-asset firm
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Model portfolios
From building wealth to delivering income, address a wide variety of real-life client goals with our menu of model portfolios.
Risk-based series of models that seek to meet long-term objectives
Target Allocation Active Series
9 Models
Designed to help investors stay on track toward long-term goals with a diversified mix of stock and bond funds matched to different risk levels. Continuously evaluated for opportunities and risks, the portfolio can adapt as markets change.
Target Allocation Blend Series
9 Models
Designed for investors seeking a diversified mix of active and passive investments across a range of risk profiles. Seeks to balance return opportunities with efficient market exposure.
Target Allocation Blend ETF Series
9 Models
Created for investors pursuing long-term goals through a diversified portfolio that combines active insight with efficient market exposure. The ETF-based approach offers convenience, cost-effectiveness, and tax efficiency of ETFs.
Target Allocation Tax-Aware Blend Series
7 Models
Intended for investors in taxable accounts who are pursuing growth and income while keeping taxes in mind. Combines tax-efficient ETFs with municipal bond strategies that can provide federally tax-exempt income.
Component models that achieve targeted exposures
Equity Completion Models
2 Models
Designed to help investors add focused U.S. or international equity exposure. By combining multiple strategies, the models can help diversify equity exposure or fill gaps in portfolios.
Models designed to address specific objectives
Income Models
2 Models
Intended for investors seeking income while maintaining diversification across bonds and income-oriented stocks. Actively managed to respond to changing market and interest rate conditions while keeping the primary focus on income.
Low Duration Models
4 Models
Intended for clients to put shorter-term assets to work while focusing on liquidity, income, and managing downside risk. A range of options to align the portfolio with time horizon and risk tolerance.
We have collaborated with Goldman Sachs Asset Management—a well-established active investing firm with complementary strengths—to bring you a suite of dynamic model portfolio solutions. These actively managed portfolios pair institutional-level portfolio design from the Goldman Sachs Asset Management team trusted by some of the world’s leading institutions1 with our long track record of research-driven active management and performance at a competitive cost.2
Dynamic ETF Portfolio
Designed for clients who want adiversified, all-ETF portfolio with active oversight. Adjusts as market conditions change while providing a flexible, efficient way to invest across a range of asset classes.
Tax-Aware Dynamic ETF Portfolio
Intended for taxable investors who want the benefits of an actively managed portfolio while keeping taxes in mind. Uses ETFs to provide broad diversification while seeking to improve after-tax outcomes.
Dynamic Hybrid Portfolio
Intended for clients who value the flexibility of ETFs along with access to select actively managed mutual funds. Combines both investment vehicles to seek to provide diversification, active management, and an efficient way to pursue long-term goals.
Tax-Aware Dynamic Hybrid Portfolio
Designed for tax-conscious investors who want a diversified portfolio with taxes considered as part of the investment approach. Combines ETFs and mutual funds to provide access to active investment opportunities while seeking to improve after-tax results.
Dynamic High Net Worth Portfolio*
Constructed for high-net-worth clients looking for greater diversification and customization beyond traditional investments. Combines public-market investments with private alternatives and direct indexing to help address more complex wealth-management needs.
Dynamic ETF + Alts Portfolio
Designed for clients seeking broader diversification by combining traditional public-market investments with private market exposure. Brings ETFs and institutional-quality private investments together in one solution to expand the opportunity set.
*This model portfolio has not been launched yet, but is expected to launch during 2026. This presentation is delivered solely as reference material with respect to this model, an investment product that Goldman Sachs Asset Management may offer in the future.
Explore the individual models on the Goldman Sachs website.
Custom Model Portfolios
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Strategic collaboration
Active investing to the
power of two
Goldman Sachs Asset Management and T. Rowe Price — two well-established firms in active investing — have collaborated to provide a suite of dynamic portfolio solutions.
The models leverage a combined, deliberate, and disciplined approach that seeks to balance risks, manage costs, and add value where active management works hardest.
Our multi-asset expertise is built in to every model
Your clients count on the highest level of investment management and client service. We bring our best multi-asset thinking from specialists around the globe to our model portfolios. You can be confident that you’re helping deliver the long-term results your clients deserve.
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35+ years
$650+ billion
As of 6/30/26
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Model portfolios can help you reclaim capacity from repeatable investment tasks. Find insights, research, and tools for turning time saved into practice growth.
Why T. Rowe Price model portfolios?
An overview of our comprehensive range of model portfolios and the investment management process behind them.
Recent allocation changes: Catch up with this quick video
Take a closer look at the latest model portfolio allocation updates. Watch our investments team discuss the factors that are driving key changes.
Animated Intro and Outro
Title:
Model Portfolios
Rebalance and Rationale
Christina Kellar
Portfolio Manager
October 26th, 2026
Hi, I'm Tina Kellar, with an update on our latest model portfolio rebalance and the rationale behind our positioning.
We remain positive on equities, supported by resilient economic growth and strong earnings. But persistent inflation and higher interest rates are making us more selective.
With that in mind, we've made several adjustments to our model portfolio positioning.
Callout:
Within U.S. Equity
Adding to large-cap growth
Closing overweight to small-cap
Decreasing large-cap core
Within equities, we've added to U.S. large-cap growth. AI-related stocks have pulled back, even as earnings and investment spending remain strong. We see this as an opportunity to add exposure at more attractive valuations.
We funded this by moving U.S. small caps back to neutral and trimming U.S. large-cap core. Smaller companies are more sensitive to higher rates and need a broader pickup in economic growth to outperform.
Callout:
Within International Equity
Increasing developed and emerging markets
Closing over-weight to small-cap
Internationally, we also moved small caps to neutral, reallocating toward developed and emerging markets. We remain particularly positive on emerging markets, supported by strong fundamentals and attractive valuations.
Callout:
Within fixed income
Shift from core bonds to high yield
Within fixed income, we've made a modest shift from core bonds to high yield. We continue to see attractive income opportunities across bond markets, but recent spread widening has made high yield more compelling. With yields above 8% and low expected defaults, we see an opportunity to lean in and add.
The bottom line: We remain positive on equities, but we're becoming more selective about where we take risk, focusing on earnings strength in stocks and attractive income opportunities in bonds.
As markets evolve, we actively adapt our portfolios to capture opportunities, manage risks, and keep you and your clients well-positioned for the road ahead.
CTA:
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1Goldman Sachs Asset Management, May 15, 2025
2Over 85% of active, non-money market T. Rowe Price funds (116 of 131) have a gross expense ratio below the average of all active funds in their Morningstar category. Data as of 12/31/25. Source: ©2026 Morningstar. Analysis by T. Rowe Price. Oldest share class used. Active funds are those funds classified as non-index funds in the Morningstar Direct database.
Consider the investment objectives, risks, and charges and expenses of the T. Rowe Price funds carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, visit troweprice.com or contact your financial professional. Read it carefully.
The T. Rowe Price model portfolios are a nondiscretionary investment management program provided by T. Rowe Price Associates, Inc. T. Rowe Price funds are distributed by T. Rowe Price Investment Services, Inc. T. Rowe Price Associates, Inc., and T. Rowe Price Investment Services, Inc., are affiliated companies. The T. Rowe Price group of companies, including its affiliates, receive revenue from T. Rowe Price investment products and services.
Goldman Sachs T. Rowe Price Portfolios: Goldman Sachs Asset Management, L.P. (“GSAM”) is collaborating with T. Rowe Price Associates, Inc. (“TRP”) to deliver co-branded model portfolios. TRP is not responsible for the services of, or the information provided by GSAM and the co-branding is not an endorsement, approval or support for, recommendation, or referral of one firm by the other. GSAM acts as the model provider and is responsible for non-discretionary asset allocation recommendations within the model portfolios using certain GSAM mutual funds and ETFs (“GSAM Funds”) selected and monitored by GSAM, and a certain minimum allocation to mutual funds and ETFs managed by TRP (“TRP Funds”). TRP does not advise or manage GSAM Funds. GSAM does not advise or manage TRP Funds. Allocation to GSAM Funds as well as TRP Funds in investment portfolios raises potential risks and conflicts of interest. GSAM and TRP are not affiliated companies. As part of the co-branded model portfolios, GSAM and TRP will share, or TRP will reimburse GSAM for certain costs related to the delivery and maintenance of such model portfolios.
This material is provided for informational purposes only; it is not personalized investment advice, a recommendation concerning investments, investment strategies, or account types by T. Rowe Price Associates, Inc., or any of its affiliates (T. Rowe Price), and it is not intended to suggest that any particular investment action is appropriate for you, nor is it intended to serve as the primary basis for investment decision-making. T. Rowe Price’s role is limited to providing your financial professional with nondiscretionary investment advice in the form of model portfolios. The T. Rowe Price model portfolios are only available through financial professionals, and your financial professional is responsible for determining if these portfolios and the mutual funds utilized in them are appropriate for you. T. Rowe Price’s role is limited to providing your advisor with nondiscretionary investment advice in the form of model portfolios. The implementation of these model portfolios and any securities selected for your account is at the full discretion of your financial professional.
Risks: All investments are subject to risk, including possible loss of principal. The model portfolios are subject to the risks of the underlying funds utilized in the model. Stock prices can fall because of weakness in the broad market, a particular industry, or specific holdings. Fixed-income investments are subject to credit risk, liquidity risk, call risk, and interest-rate risk. As interest rates rise, bond prices generally fall. International, emerging market, mid-cap, and small-cap investments are subject to additional risks and volatility. Diversification does not assure a profit or protect against a loss in a declining market.
Municipal securities will be highly impacted by events tied to the overall municipal securities markets, which can be very volatile and significantly affected by unfavorable legislative or political developments and adverse changes in the financial conditions of municipal securities issuers and the economy. Some income may be subject to state and local taxes and the federal alternative minimum tax. Capital gains, if any, are generally taxable.
ETFs are bought and sold at market prices, not NAV. Investors generally incur the cost of the spread between the prices at which shares are bought and sold. Buying and selling shares may result in brokerage commissions which will reduce returns.
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