Multi-Asset

Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios (70/30)

Overview

See additional performance disclosures in the performance section.

Product Facts

Strategy description

Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios aim to meet long-term financial goals with dividend income, dividend income growth and long-term capital appreciation. The Portfolios use municipal bonds to manage portfolio volatility and offer a balanced approach to diversification.

Benchmark: 70% S&P 500 Index, 30% Bloomberg Muni 5 Yr
Inception Date: 12/31/2004
Asset Class: Multi-Asset
Number of IssuersAs of 10/31/2025 (Updated Monthly): 53

Average Annual Total Returns As of 10/31/2025

View performance section for additional info As of 10/31/2025

Net

Pure Gross

6.22%1 Year
8.80%3 Years
7.97%5 Years
6.15%10 Years
5.07%Since Inception
12/31/2004

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.

Manager and Commentary

About the Team

ClearBridge Investments

ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.

Western Asset

Western Asset Management is one of the world's leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.

Multi-Managed

Managed Strategy Since 2004

Managed Strategy Since 2006

Managed Strategy Since 2004

Composite Performance

Calendar Year Returns

As of 09/30/2025

Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios (70/30) - Net (%)

Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios (70/30) - Pure Gross (%)

70% S&P 500 Index, 30% Bloomberg Muni 5 Yr (%)

The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Past performance is not a guarantee of future results. An investment in this strategy can lose value.

Performance data represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate with market conditions, and you may have a gain or loss when you sell your shares. Periods less than one year are not annualized. Performance results are for the composite which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite's investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or "true") gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of "true" gross-of-fee returns for non-wrap accounts and "pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” (3.0% is the maximum anticipated wrap fee for equity and balanced portfolios) which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary.

For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.

Portfolio

Positions

As of 10/31/2025 (Updated Monthly)

Number of Issuers

Portfolio: 53
Benchmark: 503

Portfolio Statistics

As of 10/31/2025 (Updated Monthly)

Cash Flow

Portfolio: 3.08%
Benchmark: —

Dividend Yield ¹

Portfolio: 2.22%
Benchmark: 1.12%

Weighted Average Life

Portfolio: 5.76 Years
Benchmark: —

Price to Book

Portfolio: 6.17x
Benchmark: 8.32x

Weighted Average Market Capitalization (USD)

Portfolio: $554.64 Billion
Benchmark: $1,441.04 Billion

Price to Earnings (12-Month Forward)

Portfolio: 19.06x
Benchmark: 25.24x

Estimated 3-5 Year EPS Growth

Portfolio: 9.15%
Benchmark: 12.01%

Yield to Worst
The yield to maturity if the worst possible bond repayment takes place. If market yields are higher than the coupon, the yield to worst would assume no prepayment. If market yields are below the coupon, the yield to worst would assume prepayment. In other words, yield to worst assumes that market yields are unchanged. Normally this value is not aggregated since it varies but if a weighted average value is used for a portfolio then the figure will reflect the values of the underlying issues, based on the size of each holding

Portfolio: 3.16%
Benchmark: —

Median Market Cap (USD)
The weighted median is calculated by first ranking all of the companies in the specified universe in ascending order based on the specified formula. All of the weights for the companies are summed. Then, the function steps through the sorted list while keeping a running total of the weights. The value returned by the function as the weighted median value is that belonging to the company straddling the 50% barrier.

Portfolio: $146.77 Billion
Benchmark: $415.43 Billion

Portfolio characteristics and composition are currently inaccessible at the representative account level for the Dividend Strategy Balanced Tax-Favored portfolio. In lieu of this, the following shows portfolio characteristics for a model portfolio of the Dividend Strategy portfolio (Source: FactSet) for the equity portion and for an aggregate portfolio of Current Market Muni (Source: BondEdge) for the fixed income portion. Portfolio characteristics are subject to change at any time. Portfolio characteristics of individual client portfolios in the program may differ, sometimes significantly, from those shown above.

Market Capitalization Allocation

As of 09/30/2025 % of Equity (Updated Quarterly)

Market Capitalization Allocation
Market Capitalization	Portfolio
10-50 Billion	9.06%
50-250 Billion	58.33%
250-500 Billion	12.41%
>500 Billion	20.20%

Documents

Product Documents

Product Documents
Checkbox	Name	Download
Checkbox	Factsheet - Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios (70/30)	Download Document
Checkbox	FTPPG Regulatory DisclosuresMailed hardcopies unavailable.	Download Document
Checkbox	Pitchbook - Franklin Templeton Dividend Strategy Balanced Tax-Favored Portfolios SMA	Download Document

Risks

All investments involve risks, including possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued.

Important Information

Separately Managed Accounts (SMAs) are investment services provided by Franklin Templeton Private Portfolio Group, LLC (FTPPG), a federally registered investment adviser. Client portfolios are managed based on investment instructions or advice provided by one or more of the following Franklin Templeton affiliated sub-advisers: ClearBridge Investments, LLC, and Western Asset Management, LLC. Management is implemented by FTPPG, the designated sub-adviser or, in the case of certain programs, the program sponsor or its designee.

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares. Returns reflect reinvestment of dividends and capital gains. Performance figures for periods shorter than one year represent cumulative figures and are not annualized. All performance is reported in US dollars.

ClearBridge Investments, LLC, Franklin Templeton Investment Solutions, Martin Currie, Royce Investment Partners, Western Asset Management Company, LLC, and Franklin Templeton claim compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Professional money management may not be suitable for all investors. Factual information relating to the securities discussed was obtained from sources believed to be reliable, but there can be no guarantee as to its accuracy. It should not be assumed that investments made in the future will be profitable or will equal the performance of the securities discussed in the material.

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Franklin Templeton (FT) is not undertaking to provide impartial advice. Nothing herein is intended to provide fiduciary advice. FT has a financial interest.

Important data provider notices and terms available at www.franklintempletondatasources.com.

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 S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization. The Bloomberg Five-Year Municipal Bond Index is a broad measure of the municipal bond market with maturities of approximately five years. Source: © S&P Dow Jones Indices LLC. All rights reserved. Bloomberg Indices.

All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Footnotes

Dividend yield is calculated without the deduction of fees and expenses.

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