Fund Evaluator:
Franklin LifeSmart™ 2020 Retire Trgt C (FLRQX)
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Best Performing in Target-Date 2020 Over the Last Year
| 12.5% | Fidelity Advisor Freedom Blend 2020 Z (FJAIX) |
| 12.1% | Fidelity Advisor Sust Trgt Dt 2020 Z (FSWKX) |
| 11.9% | T. Rowe Price Retirement 2020 (TRRBX) |
| 11.4% | Fidelity Advisor Freedom 2020 Z (FIJLX) |
| 11.0% | Fidelity Freedom Index 2020 Investor (FPIFX) |
Fund Details
Franklin LifeSmart™ 2020 Retire Trgt C Overview
Franklin LifeSmart™ 2020 Retire Trgt C (FLRQX) is an actively managed Allocation Target-Date 2020 fund. Franklin Templeton Investments launched the fund in 2013.
The investment seeks the highest level of long-term total return consistent with its asset allocation. 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 underlying funds, predominantly other Franklin Templeton affiliated mutual funds and ETFs and third-party ETFs, based on each underlying fund's predominant asset class and strategy. The underlying funds may invest in all types of U.S. and foreign securities and may engage in strategies that employ derivative instruments.
About Franklin LifeSmart™ 2020 Retire Trgt C (FLRQX)
There are 4 members of the management team with an average tenure of 4.06 years: Thomas Nelson (2013), Brett Goldstein (2025), Laura Green (2026), Jonathan Schreiber (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and MSCI ACWI NR USD index with a weighting of 100%. Franklin LifeSmart™ 2020 Retire Trgt C has 22 securities in its portfolio. The top 10 holdings constitute 82.0% 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 LifeSmart™ 2020 Retire Trgt C is part of the Allocation global asset class and is within the Allocation fund group. Franklin LifeSmart™ 2020 Retire Trgt C has 23.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 28.6%. There is 15.7% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 52.3% (44.6% domestic bond, 7.7% foreign bond and 0.0% convertible bond). Franklin LifeSmart™ 2020 Retire Trgt C has 3.2% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $912 million average for the Target-Date 2020 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.
FLRQX 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 LifeSmart™ 2020 Retire Trgt C expense ratio is high compared to funds in the Target-Date 2020 category. Franklin LifeSmart™ 2020 Retire Trgt C has an expense ratio of 1.45%, which is 158% higher than its category average, making the fund expense ratio grade a F. 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 LifeSmart™ 2020 Retire Trgt C has a portfolio turnover rate of 20%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 20% for the Target-Date 2020 category.
Recently, in the month of July 2026, Franklin LifeSmart™ 2020 Retire Trgt C returned -0.9%, which earned it a grade of D, as the Target-Date 2020 category had an average return of -0.7%. 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 LifeSmart™ 2020 Retire Trgt C has a trailing yield of 2.14%, which is below the 2.79% category average. The fund normally distributes its income quarterly and its capital gains semi-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 LifeSmart™ 2020 Retire Trgt C Grades
Year to date, the fund has returned 4.2%, 0.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 10.2% over the past year (grade of F), 9.0% over the past three years (grade of F) and 3.7% per year over the past five years (grade of F) and 5.2% per year over the past 10 years (grade of F).
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FLRQX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FLRQX Return (NAV) | -0.9% | 1.2% | 10.2% | 9.0% | 3.7% | 5.2% |
| FLRQX Grade | D | D | F | F | F | F |
| +/- Category | -0.2% | -0.1% | -0.8% | -0.6% | -0.8% | -1.5% |
| Target-Date 2020 Avg | -0.7% | 1.3% | 11.0% | 9.6% | 4.5% | 6.7% |
| FLRQX Tax Cost Ratio | na | na | 1.8% | 1.2% | 1.4% | 1.0% |
FLRQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FLRQX Return (NAV) | 4.2% | 12.5% | 7.2% | 11.5% | -16.2% | 8.8% | 8.3% | 12.6% | -4.5% | 10.7% | 2.3% |
| FLRQX Grade | F | D | D | D | F | D | F | F | C | F | F |
| +/- Category | -0.9% | -0.4% | -0.4% | -0.2% | -1.9% | -0.5% | -3.6% | -4.5% | 0.0% | -2.6% | -4.4% |
| Target-Date 2020 Avg | 5.1% | 12.9% | 7.6% | 11.7% | -14.3% | 9.3% | 11.9% | 17.1% | -4.5% | 13.3% | 6.7% |
| Risk Measures | |
| Standard Deviation: | 7.8% |
| Total Risk Index: | 0.64 - Below Average |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (73% Rank) |
| Beta: | 0.82 |
| R-Squared: | 97% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $25 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.1 years | |||
| Average Tenure: 4.1 years | |||
| Managers (Year): Nelson Thomas (2013), Goldstein Brett (2025), Schreiber Jonathan (2025), Green Laura (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 82.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 23.4% |
Portfolio Allocation |
|
| Domestic Stock: | 28.6% |
| Foreign Stock: | 15.7% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 44.6% |
| Foreign Bond: | 7.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 3.2% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | www.franklintempleton.com |
| Status: | Open |
| Inception Date: | July 1, 2013 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.45% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.56% |
| Share Class: | Franklin LifeSmart™ 2020 Retire Trgt R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
