Fund Evaluator:
Franklin Growth Allocation R (FGTRX)
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Best Performing in Moderately Aggressive Allocation Over the Last Year
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Fund Details
Franklin Growth Allocation R Overview
Franklin Growth Allocation R (FGTRX) is an actively managed Allocation Moderately Aggressive Allocation fund. Franklin Templeton Investments launched the fund in 2002.
The investment seeks the highest level of long-term total return. The fund is a "fund of funds" meaning that it seeks to achieve its investment goal by investing its assets primarily in other funds, predominantly other Franklin Templeton and Legg Mason mutual funds and ETFs. The investment manager uses the following as a general guide in allocating the fund's assets among the broad asset classes: 80% equity funds; and 20% fixed-income funds. These percentages may be changed from time to time by the fund's investment manager without the approval of shareholders, and may vary up to 10% from these percentages of fund assets.
About Franklin Growth Allocation R (FGTRX)
There are 3 members of the management team with an average tenure of 5.33 years: Thomas Nelson (2012), Brett Goldstein (2026), Laura Green (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg Multiverse TR USD index with a weighting of 100%. Franklin Growth Allocation R has 23 securities in its portfolio. The top 10 holdings constitute 83.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Franklin Growth Allocation R is part of the Allocation global asset class and is within the Allocation fund group. Franklin Growth Allocation R has 18.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 65.5%. There is 16.4% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 10.8% (8.9% domestic bond, 1.9% foreign bond and 0.0% convertible bond). Franklin Growth Allocation R has 4.8% of the portfolio in cash.
Assets Under Management
The fund has $41 million in total assets, which is below the $545 million average for the Moderately Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FGTRX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin Growth Allocation R expense ratio is high compared to funds in the Moderately Aggressive Allocation category. Franklin Growth Allocation R has an expense ratio of 1.08%, which is 6% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin Growth Allocation R has a portfolio turnover rate of 28%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.
Recently, in the month of June 2026, Franklin Growth Allocation R returned -0.0%, which earned it a grade of D, as the Moderately Aggressive Allocation category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Franklin Growth Allocation R has a trailing yield of 1.26%, which is below the 1.55% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin Growth Allocation R Grades
Year to date, the fund has returned 9.3%, 1.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 19.3% over the past year (grade of C), 16.1% over the past three years (grade of C) and 8.5% per year over the past five years (grade of C) and 10.3% per year over the past 10 years (grade of C).
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FGTRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FGTRX Return (NAV) | -0.0% | 11.8% | 19.3% | 16.1% | 8.5% | 10.3% |
| FGTRX Grade | D | D | C | C | C | C |
| +/- Category | -0.5% | 0.2% | -0.7% | -0.3% | -0.4% | -0.3% |
| Moderately Aggressive Allocation Avg | 0.5% | 11.6% | 20.1% | 16.4% | 8.9% | 10.6% |
| FGTRX Tax Cost Ratio | na | na | 2.0% | 1.4% | 1.9% | 1.8% |
FGTRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FGTRX Return (NAV) | 9.3% | 17.5% | 14.9% | 17.3% | -17.4% | 16.1% | 14.3% | 21.6% | -6.7% | 19.2% | 5.1% |
| FGTRX Grade | D | C | C | D | D | D | C | D | C | B | F |
| +/- Category | -1.0% | 1.5% | -0.8% | 0.7% | -1.6% | -1.9% | 1.3% | -1.0% | 0.4% | 1.9% | -4.0% |
| Moderately Aggressive Allocation Avg | 10.2% | 16.0% | 15.7% | 16.6% | -15.8% | 18.0% | 13.1% | 22.6% | -7.1% | 17.3% | 9.1% |
| Risk Measures | |
| Standard Deviation: | 10.7% |
| Total Risk Index: | 0.88 - Average |
| Category Risk Index: | 0.96 - Average |
| Category Risk Grade: | C (49% Rank) |
| Beta: | 1.08 |
| R-Squared: | 90% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1536 Mil |
| Fund Total Assets: | $ 42 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 29% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 14.5 years | |||
| Average Tenure: 5.3 years | |||
| Managers (Year): Nelson Thomas (2012), Green Laura (2025), Goldstein Brett (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 23 |
| % in Top 10 Holdings: | 83.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.2% |
Portfolio Allocation |
|
| Domestic Stock: | 65.5% |
| Foreign Stock: | 16.4% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 8.9% |
| Foreign Bond: | 1.9% |
| Convertible Bond: | 0.0% |
| Other: | 2.4% |
| Cash: | 4.8% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | www.franklintempleton.com |
| Status: | Open |
| Inception Date: | January 2, 2002 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.08% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Franklin Growth Allocation A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
