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Managed Fund Since 2025
Multi-Asset
FTRTX Franklin LifeSmart 2025 Retirement Target Fund
- Behavior based: Designed with an understanding of investor behavior and expectations throughout the journey to retirement.
- Outcome engineered: Reflects the need for growth but responds to potential damage a prolonged bear market can wreak in the retirement savings home stretch.
- Integrated best thinking: A global, integrated, and disciplined approach to asset allocation, capturing Franklin Templeton's best thinking across and within asset classes.
Popular Documents
Total Net Assets
$110.68M
As of 09/30/2025 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks the highest level of long-term total return consistent with its asset allocation. Total return consists of both capital appreciation and income, with the fund placing an increasing emphasis on fixed income investments as the target date 2025 approaches, and reaching its final and most conservative asset allocation in approximately eight years after the target year. The fund invests primarily in a combination of other Franklin Templeton mutual funds and Franklin Templeton and third party exchange-traded funds (ETFs).
- Benchmark
- Blended Benchmark
- Additional Benchmark
- MSCI All Country World Index-NR
- Additional Benchmark
- Bloomberg Multiverse Index
- Fund Inception Date
- 08/01/2006
- Dividend Frequency, if any
- Semiannually
- Portfolio Turnover
- 38%
Identifiers
- Ticker
- FTRTX
- Fund Number
- 445
- CUSIP Code
- 35472P612
Average Annual Total Returns As of 09/30/2025
Class A
- 3.65%1 Year
- 11.98%3 Years
- 5.81%5 Years
- 6.17%10 Years
- 5.68%Since Inception
08/01/2006
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Asset Allocation
As of 09/30/2025 % of Total (Updated Monthly)
Additional Fund Info
- Share Class Inception Date
- 08/01/2006
- Investment Style
- Target Date
- Lipper Classification
- Mixed-Asset Target 2025 Funds
- Morningstar Category
- Target-Date 2025
Manager and Commentary
About the Team
Franklin Templeton Investment Solutions
Franklin Templeton Investment Solutions (FTIS) is a leader in multi-asset, quantitative, and hedged solutions, leveraging a global network of investment teams to offer innovative and diversified strategies. With a focus on long-term investing, we combine deep research, active management, and data-driven insights to create solutions which seek to meet the evolving needs of investors worldwide.
Commentary Highlights
June 30, 2025Access the latest commentary, performance review and market outlook in one place.
Franklin Templeton Investment Solutions
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Managed Fund Since 2011
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Managed Fund Since 2021
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Managed Fund Since 2025
Latest Insights
October 13, 2025
October 10, 2025
July 17, 2025
Performance
Risk Measures
As of 09/30/2025
Class A - Without Sales Charge (NAV)
Measured against: Blended Benchmark
Statistics
Alpha (%)
Beta
Beta Bear
Beta Bull
R-Squared
Bull Bear Capture Ratio
Correlation
Historical Tracking Error
Information Ratio
Gains/Losses
Standard Deviation (%)
Class A
Blended Benchmark
Sharpe Ratio (%)
Class A
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 3
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of09/30/2025 (Updated Monthly)
- Total Net Assets
- $110.68 Million
Positions
As of 09/30/2025 (Updated Monthly)
Number of Issuers
- Fund
- 20
- Benchmark
- 2,509
Asset Allocation
As of 09/30/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Fixed Income Funds | 44.22% |
Domestic Equity | 36.00% |
Foreign Equity Funds | 17.78% |
Alternatives | 1.00% |
Cash & Cash Equivalents | 1.00% |
Holdings
As of 09/30/2025 (Updated Monthly)
Franklin U.S. Core Bond ETF ETF USD NPV TIS A/C# 28565
FFAS-Franklin U.S. Core Equity (IU) Fund OEMF USD 1 CL A Income
Franklin U.S. Treasury Bond ETF ETF USD NPV TIS A/C # 29614
Franklin Investment Grade Corporate ETF ETF USD NPV TIS A/C #21558
FFAS-Franklin International Core Equity (IU) Fund OEMF USD 1 CL USD INC Income
FCF-FRANKLIN GROWTH FUND OEMF USD NPV CL R6 TIS A/C# 4306
Putnam Large Cap Value Fund OEMF USD 1 CL R6 Income
Franklin U.S. Large Cap Multifactor Index ETF ETF USD NPV TIS A/C #25773
Franklin High Yield Corporate ETF ETF USD NPV TIS A/C #26729
FFAS-FRANKLIN EMERGING MARKET CORE EQUITY (IU) FUND OEMF USD 1 CL USD INC Income
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- SemiannuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- June, December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
06/13/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Pricing History
As of 10/31/2025 (Updated Daily)
Daily Fund Prices and Breakpoints
As of 10/31/2025
Share Prices
As of 10/31/2025
POP and Sales Charge at Breakpoints
Less than $25,000
$25,000 - $49,999
$50,000 - $99,999
$100,000 - $249,999
$250,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
52-Week Range
- Highest NAV
As of 10/28/2025 - $14.36
- Lowest NAV
As of 04/08/2025 - $12.17
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin LifeSmart 2025 Retirement Target Fund | |||
| Product Commentary - Franklin LifeSmart Funds Q&A |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin LifeSmart 2025 Retirement Target Fund - Class A | |||
| Annual Financial Statements and Other Information - Franklin Fund Allocator Series - Retirement funds | |||
| Semi-Annual Report - Franklin LifeSmart 2025 Retirement Target Fund - Class A | |||
| Semi-Annual Financial Statements and Other Information - Franklin Fund Allocator Series | |||
| Prospectus - Franklin LifeSmart Retirement Target Funds | |||
| Summary Prospectus - Franklin LifeSmart (TM) 2025 Retirement Target Fund | |||
| Statement of Additional Information - Franklin LifeSmart Retirement Target Funds | |||
| Fiscal Q1 Holdings - Franklin Fund Allocator Series | |||
| Fiscal Q3 Holdings - Franklin Fund Allocator Series |
Risks
All investments involve risks, including possible loss of principal. Principal invested is not guaranteed at any time, including at or after the fund’s retirement target date; nor is there any guarantee that the fund will provide sufficient income at or through the investor’s retirement. The investment risk of the retirement target fund changes over time as its asset allocation changes. Investments in underlying funds are subject to the same risks as, and indirectly bear the fees and expenses of, the underlying funds. Equity securities are subject to price fluctuation and possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. These and other risks are discussed in the fund’s prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
The Blended Benchmark is currently allocated to the MSCI All Country World Index-NR and Bloomberg Multiverse Index. Blended Benchmark index allocations are based on an asset class allocation that matches the fund's glide path over time.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
The MSCI All Country World Index is a market capitalization-weighted index that is designed to measure equity market performance of developed and emerging markets.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Net Returns (NR) include income net of tax withholding when dividends are paid.
The fund’s Blended Benchmark is an allocation of 60% MSCI AC World Index-NR and 40% Bloomberg Multiverse Index. Allocations for the fund’s Blended Benchmark reflect or map the fund’s current target asset class allocations and may not be representative of the fund’s historical asset class allocations. Performance for the Blended Benchmark is based on an asset class allocation that matches the glide path of the Franklin LifeSmart Funds over time. Prior to May 1, 2019, the Blended Benchmark had an allocation to FTSE 3 Month U.S. T-Bill Index.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
The Bloomberg Multiverse Index provides a broad-based measure of the global fixed income bond market.
Source: Bloomberg Indices.
Effective 9/10/18 Class A shares closed to new investors and were renamed Class A1 shares. This share class is only available for shareholders who purchased prior to the close of market on 9/7/18.
Effective 1/29/2021, the fund modified the landing point of its glide path (the strategic asset allocation of a target date fund over time) to be in line with the new required minimum distribution (RMD) age of 72. Effective 5/1/19, the fund made changes to its glide path and asset allocation, including removing its strategic allocation to alternative investments. Additionally, the fund revised its fee waiver and expense reimbursement arrangements to include acquired fund fees and expenses. Such changes can impact performance. The fund's investment goal has remained the same.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.