I agree with hank about the declining service at T. Rowe Price. Performance of their allocation funds merits a closer look, however.
TRPBX is a global allocation (60/40) fund, with about 1/3 of stocks and 1/3 of bonds invested outside the US. For comparison, Vanguard's VSMGX is a global allocation (60/40) fund that's as vanilla as one can get, comprised of Total Stock, Total Bond, Total Int'l Stock, Total Int'l Bond. The bonds are 1/3 foreign, the stocks are 2/5 foreign.
These two funds have run neck and neck since the beginning of 2020. See PortfolioVisualizer. 3.83% annualized for TRP, 3.87% for Vanguard.
It's difficult to classify these funds. M* lumps them in with domestic moderate allocation funds, and they both rate three stars on that scale. As Tarwheel observed, foreign holdings have underperformed. If compared strictly among global allocation funds, these funds would likely have garnered more stars.
Lipper calls TRPBX a mixed asset target allocation moderate fund, while calling VSMGX a mixed asset target allocation growth fund. So it's not surprising that Lipper rates TRPBX a 4 (out of 5) for total return while rating VSMGX only a 1.
The point is that these funds are doing what they said they would do and are performing as expected given what they invest in. If a global allocation fund with dynamic allocations is of more interest than a fund with static allocations, TRP offers RPGAX. PortfolioVisualizer shows that it has done a bit better than the other funds since 2020.
M* calls RPGAX fund a global allocation fund, while Lipper calls it flexible portfolio fund. It is competitive with CIBFX and MDLOX. M* calls both of those global allocation funds; Lipper calls MDLOX a flexible portfolio fund but calls CIBFX a global equity income fund.
Regarding TRRIX, some of the same comments apply. Long term, it has paced VSCGX, Vanguard's 40/60 global allocation (index based) fund. Since the beginning of 2020, it has surpassed VSCGX by a full percentage point (3.18% vs 2.11% annualized).
I agree that it is unfortunately burdened with PRCIX. That's a risk with in-house funds of funds (one that Vanguard circumvents by using underlying index funds). FWIW, TRRIX has somewhat more invested in TRPZX than in PRCIX (TRRIX fact sheet). Though those are the two elephants in the fixed income room.
Lipper loves TRRIX - 5's across the board (except for tax efficiency), since Lipper considers it a Target Now fund. The Vanguard fund is in Lipper's doghouse, since Lipper considers it a Target Allocation Moderate fund.

When in doubt, claim seasonality?
Background: On another forum, you (finally) posted a near-real time BUY of the stock market in late Oct. You got UP a few % an sold your entire position.
The markets then promptly ran up HUGE gains in Nov and Dec. You justified your premature SELL by posting you don't need the extra money.
What followed was a slew of posts back-and-forth between several posters that ultimately caused you to be banned (again) from that forum, this time until EOY '23, for your incessant desire to post your crap.
That's why you are now posting here and on the Fido board - you have lost access to your main stomping grounds.
What's so odd about all that is that you have for YEARs posted about your impeccable trading abilities, ALWAYS making the right and best trades. Yet, on the ONE time that I know of (in over a DECADE) that you posted something near a real time trade, you made money, but only a fraction of what you coulda/shoulda made, and only a fraction of what others who you incessantly demean as inferior investors made.
Now you've graced the MFO platform with your astounding revelation that the market is UP due to seasonality. On the Fido board you recently used your standard "more buyers than sellers" line.
What would all of us stoopid investors do without you?

Added a little bit to existing Vanguard Intermediate-Term Tax-Exempt (VWIUX) position.
Proceeds came from another fund's recent capital gains distribution.

After pulling out significantly from of my Schwab robo earlier this year, I've been adding most of that money back into balanced funds, both conservative and moderate. The "balanced-funds-are-broken" mantra, I thought, was always a dumb knee jerk reaction by the media.
I already have about 20% of my self managed portfolio in PRWCX, but that fund sits in a 401k account that I can't add to. For that reason I recently added PRCFX (10% of total). I bought the manager and investment process and I'm fine with the more conservative equity/income weighting. I also added a chunk to LCR (Leuthold Core ETF) back in the summer and most recently to CGBL (Capital Group Core Balanced ETF) 5% each.

TwitterLINK
"boaz weinstein
@boazweinstein
!!
Saba Capital Reaches Agreement with Certain ClearBridge Funds
ClearBridge MLP and Midstream Fund, ClearBridge MLP and Midstream Total Return Fund, and ClearBridge Energy Midstream Opportunity Fund to Each Commence Cash Tender Offers for 50% of Their Shares at 100% of NAV"
YBB Note.
www.clearbridge.com/
Not to be confused with CrossingBridge www.crossingbridgefunds.com/

The page yogi cited contains this image of a book:

That image says 2023 Edition. It also has a link embedded taking you to more information about the book including: "2023 edition published May 2023". So the cited page most likely dates from May 2023 or later.
Evidence supporting this thesis is that in March 2023 the page was different. So the page was changed no earlier than March 2023.

A popular misconception is that the stock market goes up most (~70%) of the time.
That's correct on an annual basis. And the odds get even better over longer periods of time.

Source: https://www.capitalgroup.com/individual/planning/investing-fundamentals/time-not-timing-is-what-matters.html
But on a day to day basis, the odds are barely better than break even that the market will go up:

Source: https://www.financialsamurai.com/average-daily-percent-move-of-the-stock-market/
This is why I am somewhat obsessive about doing same day exchanges. I invest for the long term and am willing to put my faith in the market going up over a period of years. I do not accept exposure to daily random fluctuations.

Thanks @msf. I consider Fairmark as a good source. In cases where some doubts remain, I keep notes in my personal tax records on what source I used for what I was doing.
By the way, IRS Publication 550 is also quite clear on Holding Periods.
IRS Publication 550, Investment Income & Expenses (Including Capital Gains & Losses),
https://www.irs.gov/pub/irs-pdf/p550.pdf
Pg 53 (Holding Periods): "Securities traded on an established market. For securities traded on an established securities market, your holding period begins the day after the trade date you bought the securities, and ends on the trade date you sold them.
Do not confuse the trade date with the settlement date, which is the date by which the stock must be delivered and payment must be made."
Pg 64, Installment sales. You cannot use the installment method to report a gain from the sale of stock or securities traded on an established securities market. You must report the entire gain in the year of sale (the year in which the trade date occurs).
See Pg 59 for more tricky rules on options straddles.

Fairmark (Kaye Thomas) is at the top of my go to list for secondary sources. He's clearer than official pubs and IMHO at least as accurate as any other source.
He provides information and clear explanation not only on the exception for short sale losses, but on the exception to this exception - why short sale gains are not also included in this exception for closing out short sale positions.
https://fairmark.com/investment-taxation/capital-gain/stock-sales/last-day-to-sell/#exception-for-loss-from-short-sales
I see no need to look further. Thanks, yogi.

Some funds do not reinvest capital gains (I think both short and long-term) but reinvest dividends.
Example? Perhaps you're thinking of ETFs structured as UITs (e.g. SPY, QQQ). What UITs cannot reinvest are dividends from underlying equities and interest from underlying debt securities.

Unlike an ETF structured as a UIT, an open-end fund ETF ... has greater flexibility to reinvest dividends from portfolio securities

https://www.federalregister.gov/d/2018-14370/p-145
In any case, this limitation refers to internal operation of the funds, not to how they can or cannot reinvest distributions.
So far, I've found no ETFs that reinvest distributions themselves. It seems that it is always the broker reinvesting dividends as a third party service, so that the investor doesn't have to do it manually. It's different " in Canada where some ETF sponsors offer DRIPs.
Even there, the ETF is not issuing new shares but always buying them on the open market. So the ETF is just playing the role of the third party broker and not really acting as the issuer of shares. For example, with Vanguard Canada ETF DRIPs,

your distributions will automatically be reinvested into units purchased on the open market in the five business days following the distribution payment date. ... The price of your new units will be the average price of all units purchased under the plan excluding commissions, fees and transaction costs incurred by the plan agent.

https://www.vanguard.ca/en/investor/products/resources-group/drip
If the brokerage has a deal with the ETF sponsor, then, you may get a small discount on reinvestments, and reinvestments may be earlier.:
This statement sounds like true stock DRIPs that may give small discounts on stocks acquired directly from a company. But that doesn't seem likely with ETFs, as they issue new shares only to authorized participants (APs) in large blocks (creation units). And I haven't been able (yet) to find an ETF DRIP (not involving the broker) in the US.
Getting back to UITs, I'm not sure I'd take the Vanguard page on dividend reinvestment too literally. It reads in part:

Unit investment trusts [footnote omitted], foreign equities, and certain domestic equities and certain American Depositary Receipts (ADRs) are not eligible for the reinvestment program.

That would seem to make SPY and QQQ ineligible for dividend reinvestment at VBS.

Some funds do not reinvest capital gains (I think both short and long-term) but reinvest dividends. If your brokerage is reinvesting on the open market, they may reinvest your dividends and capital gains. But hopefully, your ETF is managed well enough that capital gains are not a common occurrence. Also, M&As can result in capital gains. Vanguard changing index provider or a change in the underlying index of a passive ETF can result in capital gains (hopefully, not a common occurrence). If a Mutual fund and ETF are just a different class of the same fund, capital gains can accrue to the ETF holders.

Another source says that Canada still follows the settlement-date within the year, while the US follows trade-date within the year.
https://investingnews.com/daily/resource-investing/mark-these-tax-loss-selling-dates-on-your-calendar/
"What are the important tax-loss selling dates for 2023?
Tax-loss selling comes with many potential benefits, but it nevertheless has some strings attached.
The key thing for investors to remember is that it has deadlines. For investors filing their taxes in Canada, the last day for tax-loss selling in 2023 is December 27. Stocks purchased or sold after this date will be settled in 2024, so any capital gains or losses will apply to the 2024 tax year. The system differs for those filing their taxes in the US, and based on information from the IRS, the last day for tax-loss selling this year is December 29."
Edit/Add. I checked the SA article again, and its comments. This difference in Canadian and US rules is mentioned in some comments. While I don't see corrections in the article, the comments are now turned OFF.

@sm3, I do not read SA articles but I presume the article is saying settlement date and not trade date is the relevant for counting gains and losses. Let us wait for @msf and others to dig up the Revenue Ruling or other authority that shows for publicly traded widgets, it is the trade date not settlement date that is relevant for this purpose. Hopefully, the citations will also cover mutual fund trades and not just stocks and ETFs.
P.S.: I remember selling stocks and ETFs in the after market hours on the last trading date of 2008-2009 and taking the loss in the year of the trade (not settlement) and had looked up the authorities at that time. I do not recall the rules changed since then.

I don't think that SA info is correct - it used to be like that, but now, trade-date applies in most cases.
Here is info from Fairmark,
https://fairmark.com/investment-taxation/capital-gain/stock-sales/trade-date-and-settlement-date/
https://fairmark.com/about/
"General rule: trade date controls
For most purposes, the tax law uses the trade date for both purchases and sales. For example, if you sell stock with a trade date of December 31, you’ll report the gain or loss that year, even though the transaction will settle in January. Trade dates also govern in determining whether your holding period is short-term or long-term, in determining whether the wash sale rule applies, and in determining whether you have a qualified dividend.
Exceptions
You should be aware of a couple of exceptions:
When you close a short sale at a loss, the tax law treats the transaction as occurring on the settlement date. See Last Day to Sell.
If you hold more than one lot of shares and sell part of your holdings, you may want to identify the shares you’re selling. You can identify shares (or change your identification) until the settlement date. See How to Identify Shares."

@Tarwheel , as per YBB note for Fidelity. Login, and you'll see this choice to the right side of a line of choices. Once selected, you'll see a list of all your investments and current settings for how dividends and cap. gains are currently set. Select 'update', where your choices may be made for changes. We have a joint taxable acct. and each with T and Roth IRA's. BE sure to log in to make changes to as many accts. as you need to adjust.....i.e.; login for yourself and your wife would have to login to make changes to that acct., if this is the case for you. We do have etf's in all accounts that have been set to reinvest dividends/cap. gains FOR reinvest in security, VS to the 'core cash account'.
Let us know if you were successful.
Remain curious,
Catch

LINK
https://www.barrons.com/magazine?mod=BOL_TOPNAV
INTERNATIONAL TRADER. EM BONDS are attractive, especially the local-currency EM bonds (LEMB). Dollar-denominated is EMB.
FUNDS. Hot-hand managers are coming to active equity ETFs (TCAF, QLTY, FBCG, CGDV, DCOR, ARKK, etc). There is a flood of active ETFs with 240 new YTD. Much of the growth has been for active equity ETFs after the SEC approved several models a few years ago. The ETF wrapper offers tax-efficiency due to its in-kind creation/redemption. However, most indexes (broad or customized/special) also tend to be tax-efficient. So, active managers have headwinds vs indexes. The active ETFs may have significant differences from their OEF cousins even when both are run by the same team(s) – the ETFs may have fewer stocks or use fewer portfolio strategies. Active ETFs may be only a bit cheaper than their OEF cousins.
FUNDS. @DavidSHERMAN (58) uses value strategies for short-duration (0.75-2 years) HY bond fund CBLDX (ER 0.91%). He also looks for event-driven opportunities – early redemptions, change in control, selloffs following disasters, etc. He expects the yield-curve to normalize in 2024.
INCOME. Higher rates came and went. But bond funds with short/intermediate duration offer high current rates and will benefit from rate declines. Barbell strategies are also good. Mentioned are OEFs STYAX, VMBSX; ETFs AGG, TOTL, PSK (preferreds); CEF PMM (muni).
ECONOMY. FUNDS. Boring won in 2023. This skinny bull driven by Magnificent 7 did wonders for index funds. So, investors who didn’t do much deep analyses and just dumped some money into the SP500 or total market index did well. The SP500 index funds are now 10.7% of the fund universe, the total stock market 6.8%, with both accounting for 17.5% vs 8.76% in 2013. Very interesting considering that the 1st retail SP500 fund in 1976 (Vanguard) was a flop – it raised only $11.3 million in its initial period vs $150 million expected; it could afford only 280/500 stocks; Vanguard total market index fund followed in 1992 and many TDFs hold it. How has the tide turned from the humble beginnings? The SP500 index funds with only 2-4 bps ERs are formidable benchmarks to beat.
Q&A. Joel TILLINGHAST, Fidelity Small/Mid-Cap FLPSX (almost global). He has managed the Fund since its 1989 inception. Considering the regime shifts going on (inflation, taxes, regulation, energy transition, AI, etc), this market is too calm and cheerful, almost like 1999-2000. He likes to see steady and predictable cash flows. Investors may have an edge on small/mid-caps as they are less followed by analysts and institutions. Indexing is very popular now, but active managers will do fine in the long-term. Peter LYNCH taught him to be flexible when things/facts change; to accept errors and move on. He is retiring in 2023, leaving FLPSX in good hands (PECK, CHAMOVITZ), and will devote more time to mentoring, traveling, gardening, and book writing. Previous book, Big Money Thinks Small, 2020.
EXTRA, RETIREMENT. The good news is that Social Security payments will rise +3.2% in 2024 (old news), but the bad news is that it won’t be enough due to high inflation. Although inflation has moderated, that doesn’t mean lower prices. Significantly up are auto insurance, rents, medical care, Medicare Part B Premium. Almost 20% of 65+ are still working.

Andrew Foster, a renowned portfolio manager and founder of Seafarer Capital Partners, shares his insights on why emerging markets are no longer a growth story. Foster emphasizes that the investment case for emerging markets lies in individual companies rather than countries.

https://youtube.com/watch?v=sFpirvQRBuE

I had looked up the potential YE ETF capital gain distributions at the Capital Group website (the part of the table that deals with ETFs). They are still notated with a "-". I guess you are treating "-" means zero.

The Capital Group published cap gains estimates for its ETFs along with the rest of its funds, on December 6 (link is from Shadow's post in 2023 capital gains distribution estimates):
https://www.capitalgroup.com/advisor/tax/2023-year-end-distributions.html
It republished estimates (same data) more recently (Dec 7th) for individual investors here:
https://www.capitalgroup.com/individual/service-and-support/tax-center/2023-year-end-distributions.html
Some institutions publish income estimates, many do not. Fidelity doesn't. Links again courtesy of Shadow:
https://www.fidelity.com/mutual-funds/information/distributions#/?table=estimated
https://institutional.fidelity.com/app/tabbed/products/FIIS_SP52_DPL6.html?navId=324
A few institutions produce estimated distributions with data as late as early December (e.g. Vanguard), but most seem to at best produce cap gains estimates a single time once October 31st data is available.
There's a reason for that.
https://blog.umb.com/fund-services-insight-mutual-fund-year-end-distributions/
As explained in that piece, in terms of dollars, what matters are primarily dates on the calendar (usually Oct 31 and Dec 31), not record dates. Though the number of shares outstanding on the record date does determine how a fund's gains and income are partitioned.
ETFs, unlike OEFs, have record dates that are a day later than their ex-dates.

I want to own these in my taxable account and have been waiting to see how much non-dividend distributions (i.e., capital gains) they might be throwing off. Last year was not anything out of the ordinary but wanted to get one more year data before deciding. Does anyone here own these in their taxable account?