Fund Evaluator:
Franklin LifeSmart 2055 Ret Trgt R (FLSBX)
Follow This Fund
Best Performing in Target-Date 2055 Over the Last Year
| 23.7% | Fidelity Advisor Freedom Blend 2055 Z (FHPEX) |
| 23.1% | Fidelity Advisor Sust Trgt Dt 2055 Z (FSZNX) |
| 23.0% | Fidelity Advisor Sust Trgt Dt 2055 I (FSZMX) |
| 22.7% | BlackRock LifePath® Dyn 2055 Investor A (LPVAX) |
| 22.1% | BlackRock LifePath ESG Index 2055 Inv A (LEVAX) |
Fund Details
Franklin LifeSmart 2055 Ret Trgt R Overview
Franklin LifeSmart 2055 Ret Trgt R (FLSBX) is an actively managed Allocation Target-Date 2055 fund. Franklin Templeton Investments launched the fund in 2015.
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.
About Franklin LifeSmart 2055 Ret Trgt R (FLSBX)
There are 4 members of the management team with an average tenure of 3.61 years: Thomas Nelson (2015), 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: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg Global Aggregate TR USD index with a weighting of 100%. Franklin LifeSmart 2055 Ret Trgt R has 17 securities in its portfolio. The top 10 holdings constitute 93.3% 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 2055 Ret Trgt R is part of the Allocation global asset class and is within the Allocation fund group. Franklin LifeSmart 2055 Ret Trgt R has 34.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.7%. There is 34.4% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.8% (0.7% domestic bond, 0.1% foreign bond and 0.0% convertible bond). Franklin LifeSmart 2055 Ret Trgt R has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Target-Date 2055 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.
FLSBX 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 2055 Ret Trgt R expense ratio is high compared to funds in the Target-Date 2055 category. Franklin LifeSmart 2055 Ret Trgt R has an expense ratio of 0.95%, which is 40% 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 LifeSmart 2055 Ret Trgt R has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 23% for the Target-Date 2055 category.
Recently, in the month of July 2026, Franklin LifeSmart 2055 Ret Trgt R returned -0.5%, which earned it a grade of B, as the Target-Date 2055 category had an average return of -0.8%. 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 2055 Ret Trgt R has a trailing yield of 1.31%, 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 LifeSmart 2055 Ret Trgt R Grades
Year to date, the fund has returned 10.5%, 0.0 percentage points better than the category, which translates into a grade of D. The fund has returned 21.2% over the past year (grade of C), 17.1% over the past three years (grade of B) and 9.6% per year over the past five years (grade of B) and 10.7% per year over the past 10 years (grade of D).
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FLSBX 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 |
|
| FLSBX Return (NAV) | -0.5% | 3.8% | 21.2% | 17.1% | 9.6% | 10.7% |
| FLSBX Grade | B | A | C | B | B | D |
| +/- Category | 0.2% | 0.3% | 1.1% | 0.9% | 0.5% | -0.2% |
| Target-Date 2055 Avg | -0.8% | 3.5% | 20.1% | 16.2% | 9.0% | 10.9% |
| FLSBX Tax Cost Ratio | na | na | 1.5% | 1.1% | 1.9% | 1.3% |
FLSBX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FLSBX Return (NAV) | 10.5% | 21.2% | 15.5% | 19.1% | -17.8% | 17.1% | 15.6% | 22.1% | -7.5% | 18.7% | 2.8% |
| FLSBX Grade | D | B | B | D | B | C | C | F | A | F | F |
| +/- Category | 0.0% | 1.7% | 0.9% | -0.7% | 0.4% | -0.2% | -0.5% | -2.9% | 1.0% | -2.4% | -5.1% |
| Target-Date 2055 Avg | 10.5% | 19.5% | 14.6% | 19.8% | -18.2% | 17.3% | 16.1% | 24.9% | -8.5% | 21.1% | 8.0% |
| Risk Measures | |
| Standard Deviation: | 11.8% |
| Total Risk Index: | 0.96 - Average |
| Category Risk Index: | 0.99 - Below Average |
| Category Risk Grade: | B (35% Rank) |
| Beta: | 1.19 |
| 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: | $60 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 22% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 3.6 years | |||
| Managers (Year): Nelson Thomas (2015), Goldstein Brett (2025), Schreiber Jonathan (2025), Green Laura (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 93.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 34.4% |
Portfolio Allocation |
|
| Domestic Stock: | 62.7% |
| Foreign Stock: | 34.4% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 0.7% |
| Foreign Bond: | 0.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 1.9% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | www.franklintempleton.com |
| Status: | Open |
| Inception Date: | May 1, 2015 |
| 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 (%): | 0.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.68% |
| Share Class: | Franklin LifeSmart 2055 Ret Trgt R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
