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Trending ETFs

Franklin LifeSmart Retirement Income Fund

mutual fund
FLRDX
Payout Change
Pending
Price as of:
$10.33 +0.0 +0.0%
primary theme
Target Date
FLRDX (Mutual Fund)

Franklin LifeSmart Retirement Income Fund

Payout Change
Pending
Price as of:
$10.33 +0.0 +0.0%
primary theme
Target Date
FLRDX (Mutual Fund)

Franklin LifeSmart Retirement Income Fund

Payout Change
Pending
Price as of:
$10.33 +0.0 +0.0%
primary theme
Target Date

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.33

$45 M

4.39%

$0.45

1.19%

Vitals

YTD Return

2.5%

1 yr return

12.6%

3 Yr Avg Return

2.3%

5 Yr Avg Return

4.3%

Net Assets

$45 M

Holdings in Top 10

84.9%

52 WEEK LOW AND HIGH

$10.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.19%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 121.26%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.33

$45 M

4.39%

$0.45

1.19%

FLRDX - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 4.3%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 3.34%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Franklin LifeSmart Retirement Income Fund
  • Fund Family Name
    Franklin Templeton Group of Funds
  • Inception Date
    Jan 13, 2015
  • Shares Outstanding
    260851
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Thomas Nelson

Fund Description

The Fund employs an asset allocation strategy, combined with an income generation strategy, designed for investors in retirement.

Under normal market conditions, the investment manager allocates the Fund’s assets among the broad asset classes of equity and fixed-income investments and strategies by investing primarily in a distinctly-weighted combination of other funds (underlying funds), predominantly other Franklin Templeton and Legg Mason mutual funds and exchange-traded funds (ETFs) and third-party ETFs, based on each underlying fund’s predominant asset class and strategy.

Under normal market conditions, 40% of the Fund’s assets are allocated to equity investments and 60% of the Fund’s assets are allocated to fixed-income investments. The underlying funds and the percentage allocations to each asset class may be changed from time to time by the Fund’s investment manager without the approval of shareholders, and, under normal market conditions, the percentage allocations for equity and fixed-income funds may vary up to 10% from the stated allocations.

In order to generate additional income for the Fund, the investment manager employs an income generation strategy. Under this strategy, the Fund regularly engages in: (1) a direct covered call strategy by writing covered call options on equity indices, equity ETFs and equity index futures; and (2) an indirect covered call strategy through the use of equity index-linked notes, which are notes that synthetically combine the return of the ownership of an equity index and a covered call on that index and produce coupon payments to the Fund. In addition, the Fund may engage in equity index futures and purchase exchange-traded and OTC put options on equity indices, equity ETFs and equity index futures for hedging purposes to tactically adjust the Fund’s exposure to certain asset classes and for efficient portfolio management purposes. The derivatives in which the Fund invests for its income generation strategy are allocated to the Fund’s equity asset class for purposes of the Fund’s asset allocations.

Under normal market conditions, the Fund employs a managed distribution policy that is designed to provide shareholders with regular distributions from their

investment. Under this policy, the Fund distributes twelve level monthly payments throughout each calendar year to enable shareholders to estimate the distributions they will receive from the Fund; however, the twelfth monthly payment may be greater than the initially anticipated amount if additional income or capital gains are required to be distributed. The targeted annual payout rate for all share classes is between approximately 3% and 6% per share based on the last net asset value of the Fund of the prior calendar year in which the distribution is being made (e.g., for distributions made in 2023, the targeted annual payout rate for all share classes will be based on the Fund’s net asset value on December 31, 2022). The distribution rate will vary by class based on the expenses of each class.

Every year, the investment manager will undertake to determine if an adjustment should be made to the monthly rate. In determining if changes need to be made to the rate, the investment manager will evaluate such factors as the current and forecasted interest rate environment, dividend projections, fee structure of the Fund and its classes, historical long-term performance of the Fund, and capital market expectations. The current or adjusted distribution rate would be applied in January of the following year. Therefore, the required amount of shares needed to be held by a shareholder to generate the same monthly payout under the managed distribution policy may vary from year to year depending on the determined distribution rate for that year. The annual payout rate may be adjusted higher or lower from year to year in response to market conditions, without shareholder approval.

Level monthly distributions will be paid to shareholders under the managed distribution policy in any given year regardless of the performance of the Fund. These payments may include income and capital gains generated by the underlying securities in the portfolio, as well as a possible return on capital component, if necessary, to meet the annual distribution rate.

When selecting equity funds, the investment manager considers the underlying funds’ foreign and domestic exposure, market capitalization ranges, and investment style (growth vs. value). When selecting fixed-income funds, the investment manager considers the need for reduced market risks and lower volatility, appropriate to the Fund’s risk profile, and considers the credit quality, duration and maturity of the underlying funds’ portfolios. Certain fixed-income funds may hold securities across the credit quality spectrum, including below investment grade or "junk" bonds. The underlying funds may invest in all types of U.S. and foreign (including emerging markets) securities and may engage in strategies that employ derivative instruments. In evaluating the risk level of the underlying funds, the investment manager analyzes such factors as: (a) relative and absolute performance, including correlations with other underlying funds as well as corresponding benchmarks, and (b) their volatility (the variability of returns from one period to the next).

No more than 25% of the Fund’s assets may be invested in any one underlying fund, except that the Fund may invest up to 50% of its total assets in Franklin U.S. Government Securities Fund, Franklin U.S. Treasury Bond ETF, or a combination of both.

While the Fund is designed for investors in retirement, investors should also consider other factors besides their age or retirement date, such as their risk tolerance, personal circumstances, legal considerations, tax consequences and status, complete financial situation and needs and individual goals, some or all of which can change frequently. It is possible to lose money by investing in the Fund notwithstanding the managed distribution policy. There can be no assurance or guarantee that the Fund will provide a fixed stable level of distributions at any time or over any period of time. An investment in the Fund could lose money over short, intermediate, or even long periods of time.

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FLRDX - Performance

Return Ranking - Trailing

Period FLRDX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -0.8% 6.6% 41.15%
1 Yr 12.6% 0.0% 13.3% 5.73%
3 Yr 2.3%* -6.1% 4.4% 4.79%
5 Yr 4.3%* -4.5% 5.5% 26.06%
10 Yr N/A* 1.6% 5.0% 37.86%

* Annualized

Return Ranking - Calendar

Period FLRDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -9.8% 12.8% 45.03%
2022 -16.6% -38.3% -3.8% 63.35%
2021 -1.0% -9.1% 10.3% 53.44%
2020 4.2% -13.4% 12.6% 80.36%
2019 7.7% -1.1% 13.9% 60.28%

Total Return Ranking - Trailing

Period FLRDX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -0.8% 6.6% 41.15%
1 Yr 12.6% 0.0% 13.3% 5.73%
3 Yr 2.3%* -6.1% 4.4% 4.79%
5 Yr 4.3%* -4.5% 5.5% 26.06%
10 Yr N/A* 1.6% 5.0% 34.65%

* Annualized

Total Return Ranking - Calendar

Period FLRDX Return Category Return Low Category Return High Rank in Category (%)
2023 12.0% -9.8% 15.4% 18.32%
2022 -11.6% -16.9% -2.9% 47.12%
2021 5.6% -3.8% 10.3% 55.56%
2020 8.8% -13.4% 16.6% 67.26%
2019 12.2% 4.7% 25.2% 68.09%

NAV & Total Return History


FLRDX - Holdings

Concentration Analysis

FLRDX Category Low Category High FLRDX % Rank
Net Assets 45 M 1.16 M 35.3 B 81.25%
Number of Holdings 16 2 1413 67.19%
Net Assets in Top 10 39.9 M 931 K 36.5 B 75.00%
Weighting of Top 10 84.87% 4.6% 101.7% 50.56%

Top 10 Holdings

  1. Western Asset Income Fund, Class IS 14.39%
  2. ClearBridge Tactical Dividend Income Fund, Class IS 11.75%
  3. Franklin U.S. Core Bond ETF 11.07%
  4. Western Asset Short Duration High Income Fund, Class I 10.61%
  5. JPMorgan Equity Premium Income ETF 10.20%
  6. Franklin U.S. Government Securities Fund, Class R6 6.66%
  7. Franklin Investment Grade Corporate ETF 5.66%
  8. BrandywineGLOBAL - Global Opportunities Bond Fund, Class IS 4.92%
  9. UBS AG into SP 500 Index 4.83%
  10. JPMorgan Nasdaq Equity Premium Income ETF 4.79%

Asset Allocation

Weighting Return Low Return High FLRDX % Rank
Bonds
4.83% 0.00% 109.30% 38.54%
Cash
2.48% -24.70% 53.61% 42.19%
Convertible Bonds
1.54% 0.00% 6.56% 11.98%
Stocks
0.00% 0.00% 100.13% 91.67%
Preferred Stocks
0.00% 0.00% 11.70% 86.46%
Other
0.00% -0.07% 5.62% 84.38%

Bond Sector Breakdown

Weighting Return Low Return High FLRDX % Rank
Corporate
56.22% 0.00% 99.84% 9.38%
Securitized
15.42% 0.00% 81.91% 63.54%
Government
12.03% 0.00% 99.79% 78.13%
Cash & Equivalents
2.01% 0.00% 80.50% 43.23%
Municipal
0.44% 0.00% 99.98% 31.25%
Derivative
0.00% -0.07% 0.78% 81.25%

Bond Geographic Breakdown

Weighting Return Low Return High FLRDX % Rank
US
4.83% 0.00% 109.30% 38.54%
Non US
0.00% 0.00% 7.58% 86.46%

FLRDX - Expenses

Operational Fees

FLRDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.19% 0.06% 13.37% 20.94%
Management Fee 0.25% 0.00% 0.79% 72.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.29% N/A

Sales Fees

FLRDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FLRDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FLRDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 121.26% 0.00% 121.26% 99.38%

FLRDX - Distributions

Dividend Yield Analysis

FLRDX Category Low Category High FLRDX % Rank
Dividend Yield 4.39% 0.00% 9.68% 4.69%

Dividend Distribution Analysis

FLRDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

FLRDX Category Low Category High FLRDX % Rank
Net Income Ratio 3.34% -0.06% 5.71% 3.33%

Capital Gain Distribution Analysis

FLRDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Distributions History

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FLRDX - Fund Manager Analysis

Managers

Thomas Nelson


Start Date

Tenure

Tenure Rank

May 01, 2011

11.09

11.1%

Thomas Nelson is the director of portfolio management and a senior vice president for Franklin Templeton Investment Solutions (FTIS). He graduated from the University of Delaware with a B.S. in accounting. As the director of portfolio management and a member of the Investment Strategy and Research Committee, Mr. Nelson manages several Franklin Templeton global mutual funds. He is also a chartered member of the CFA Institute and part of the New York Society of Security Analysts and Chartered Alternative Investment Analyst Association.

Wylie Tollette


Start Date

Tenure

Tenure Rank

Apr 16, 2021

1.12

1.1%

Mr. Tollette first joined Franklin Templeton in 1994, left the company in 2014 and rejoined again in 2018.

Berkeley Revenaugh


Start Date

Tenure

Tenure Rank

Apr 16, 2021

1.12

1.1%

Ms. Revenaugh has been a co-lead portfolio manager since April 2021. She joined Franklin Templeton in 2019. Prior to joining Franklin Templeton, she was a portfolio strategist and a member of the investment committee with Windward Investment Management.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 17.59 6.51 3.75