Multi-Asset

FCAZX Franklin Corefolio Allocation Fund

  • Diversification. We typically seek broad industry and country exposures for added diversification opportunities.
  • Low Common Holdings. The distinct investment approaches of the underlying managers generally leads to a low number of holdings common to all four underlying funds.
  • Automatic Rebalancing. We maintain consistent exposures to distinct investment strategies throughout changing market environments.

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NAV 1 $0.21(0.84%)
$25.09
As of 12/10/2025
YTD Total Returns At NAV 2
14.85%
As of 12/10/2025
Total Net Assets
$1.03B
As of 11/30/2025 (Updated Monthly)
Morningstar Overall Rating™ 3
As of 11/30/2025

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Overview

Fund Facts

Fund description

Franklin Corefolio Allocation Fund seeks capital appreciation through a diversified, multidisciplined approach. It targets both growth and value style investments by investing in approximately equal allocations of 25% to Franklin Growth Opportunities Fund, Franklin Growth Fund, Franklin Mutual Shares Fund and Templeton Growth Fund.

Benchmark
S&P 500 Index
Additional Benchmark
MSCI World Index
Fund Inception Date
08/15/2003
Dividend Frequency, if any
Semiannually
Portfolio Turnover
10%

Sales Charges, Expenses & Fees

As of 05/01/2025
Gross Expense Ratio4
0.76%
Net Expense Ratio4,5
0.76%
Maximum Initial Charge
N/A
CDSC
N/A
12b-1 Fee
0.00%

Identifiers

Ticker
FCAZX
Fund Number
670
CUSIP Code
35472P745

Average Annual Total Returns

View performance section for additional info As of 11/30/2025

Advisor Class

  • 8.79%1 Year
  • 16.21%3 Years
  • 9.71%5 Years
  • 10.34%10 Years
  • 8.76%Since Inception
    08/15/2003

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

View portfolio section for additional info

As of 11/30/2025 % of Total (Updated Monthly)

Equity96.91%
Fixed Income0.71%
Cash & Cash Equivalents2.37%

Additional Fund Info

Share Class Inception Date
08/15/2003
Investment Style
Target Risk
Lipper Classification
Mixed-Asset Target Allocation Aggregate Growth Funds
Morningstar Category3
Aggressive Allocation

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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.

Franklin Templeton Investment Solutions
[Laura Greens avatar]

Managed Fund Since 2025

[Thomas Nelsons avatar]

Managed Fund Since 2019

[Berkeley Belknaps avatar]

Managed Fund Since 2021

Portfolio Manager Profile
Years of Experience
Manager Location

Latest Insights

December 8, 2025

Allocation Views: Focused on strong fundamentals

October 13, 2025

Hedge Fund Strategy Outlook: Fourth quarter 2025

July 17, 2025

Hedge Fund Strategy Outlook: Third quarter 2025

July 10, 2025

The “Big Beautiful Bill:” Beauty is in the eye of the bondholder

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Performance

Risk Measures

As of 11/30/2025

Advisor Class - Without Sales Charge (NAV)
Measured against: S&P 500 Index
Statistics
Alpha (%)
Beta
Beta Bear
Beta Bull
R-Squared
Bull Bear Capture Ratio
Correlation
Historical Tracking Error
Information Ratio
Gains/Losses
Standard Deviation (%)
Advisor Class
S&P 500 Index
Sharpe Ratio (%)
Advisor Class

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. 

See the risks and other important information.

Ratings 3

Morningstar logo
Overall Morningstar Rating
Overall Morningstar Rating: 4 out of 5 stars  
As of 11/30/2025
3 Years
3 Years: 5 out of 5 stars  
88 Funds in category
5 Years
5 Years: 3 out of 5 stars  
87 Funds in category
10 Years
10 Years: 4 out of 5 stars  
68 Funds in category
Rating Category
Aggressive Allocation

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics. 

Morningstar Style Box
As of 11/30/2025
Current Historical
Large
Medium
Small
Value Blend Growth
Style
Size

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

©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.

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Portfolio

Assets

As of11/30/2025 (Updated Monthly)

Total Net Assets
$1.03 Billion

Positions

As of 11/30/2025 (Updated Monthly)

Number of Issuers
Fund
4

Asset Allocation

As of 11/30/2025 % of Total (Updated Monthly)

Holdings Fund
Equity
96.91%
Fixed Income
0.71%
Cash & Cash Equivalents
2.37%

 

Bar chart with 3 bars.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying values. Data ranges from 0.7142 to 96.9117.
End of interactive chart.

Holdings

As of 10/31/2025 (Updated Monthly)

FCF-FRANKLIN GROWTH FUND OEMF USD NPV CL R6 TIS A/C# 4306
FSS-FRANKLIN GROWTH OPPORTUNITIES FUND OEMF USD NPV CL R6 TIS A/C #4462
Templeton Growth Fund Inc OEMF USD NPV CL R6 TIS A/C# 105
FMSF-FRANKLIN MUTUAL SHARES FUND OEMF USD NPV CL R6 TIS A/C# 435
Franklin Institutional U.S. Government Money Market Fund OEMF-SWEEP MONEY MARKET PORTFOLIO
Cash and Cash Equivalents

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. 

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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
Distributions with future dates are estimates and those figures are not final

12/29/2025
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.

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Pricing

Pricing History

As of 12/10/2025 (Updated Daily)

Chart

Line chart with 5822 data points.
The chart has 1 X axis displaying Time. Data ranges from 2003-08-15 00:00:00 to 2025-12-10 00:00:00.
The chart has 1 Y axis displaying [products.performance-value]. Data ranges from 6.63 to 25.57.
End of interactive chart.

Daily Fund Prices

As of 12/10/2025

Share Prices

As of 12/10/2025

NAV  1(Net Asset Value)
$25.09
NAV Change  1
$0.21
NAV Change (%)  1
0.84%
POP  6(Public Offering Price)
$25.09

52-Week Range

Highest NAV As of 10/27/2025
$25.19
Lowest NAV As of 04/08/2025
$20.09

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Documents

Fund Literature
 Name Download Add to Cart
Factsheet - Franklin Corefolio Allocation FundDownload Document
Regulatory Documents
 Name Download Add to Cart
Annual Report - Franklin Corefolio Allocation Fund - Advisor ClassDownload Document
Annual Financial Statements and Other Information - Franklin CoreFolio Allocation FundDownload Document
Semi-Annual Report - Franklin Corefolio Allocation Fund - Advisor ClassDownload Document
Semi-Annual Financial Statements and Other Information - Franklin Fund Allocator SeriesDownload Document
Prospectus - Franklin Core Folio Allocation FundDownload Document
Summary Prospectus - Franklin Core Folio Allocation FundDownload Document
Statement of Additional Information - Franklin Core Folio Allocation FundMailed hardcopies unavailable.Download Document
Fiscal Q1 Holdings - Franklin Fund Allocator SeriesMailed hardcopies unavailable.Download Document
Fiscal Q3 Holdings - Franklin Fund Allocator SeriesMailed hardcopies unavailable.Download Document

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Risks

All investments involve risks, including possible loss of principal. 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. The investment style may become out of favor, which may have a negative impact on performance. 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.

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Important Information

Click here for funds sales charge and breakpoint 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.

You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.

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 S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.

The MSCI World Index is a free float-adjusted market-capitalization index that is designed to measure global developed market equity performance.
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.

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.

Effective August 26, 2016, Franklin Corefolio Allocation Fund implemented policy changes to the investment allocation of the fund. Franklin Growth Opportunities Fund has replaced Franklin Flex Cap Growth Fund as an investment option for the Franklin Corefolio Allocation Fund. Such a change can impact performance.

Footnotes

  1. Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.

  2. Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.

  3. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. 

  4. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.

  5. Net Expense Ratio represents the expense ratio applicable to investors. 

  6. Public Offering Price – the purchase price for each share of the fund on a given day.  It includes the maximum initial sales charge, if any.

  7. Performance quotations for this class reflect the following methods of calculation: a) For periods prior to the fund's Advisor Class inception date, a restated figure is used based on the fund's oldest share class, Class A performance, excluding the effect of Class A's maximum initial sales charge but reflecting the effect of the Class A Rule 12b-1 fees; and b) for periods after the fund's Advisor Class inception date, actual Advisor Class performance is used, reflecting all charges and fees applicable to that class.