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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Franklin LifeSmart 2040 Retirement Target Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Franklin LifeSmart 2040 Retirement Target Fund (FLSHX) has returned -3.87% so far this year and 14.20% over the past 12 months. Over the last ten years, FLSHX has returned 9.21% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Franklin LifeSmart 2040 Retirement Target Fund
- 1D
- -0.13%
- 1M
- -7.56%
- YTD
- -3.87%
- 6M
- -1.01%
- 1Y
- 14.20%
- 3Y*
- 13.08%
- 5Y*
- 7.33%
- 10Y*
- 9.21%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jan 2, 2015, FLSHX's average daily return is +0.03%, while the average monthly return is +0.69%. At this rate, your investment would double in approximately 8.4 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +9.6%, while the worst month was Mar 2020 at -11.4%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FLSHX closed higher 51% of trading days. The best single day was Dec 30, 2021 with a return of +20.3%, while the worst single day was Dec 31, 2021 at -17.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.64% | 1.32% | -7.56% | -3.87% | |||||||||
| 2025 | 2.81% | 0.33% | -2.76% | 0.27% | 4.37% | 3.81% | 0.72% | 2.20% | 3.16% | 1.90% | 0.30% | 0.76% | 19.16% |
| 2024 | 0.68% | 3.90% | 3.02% | -3.65% | 4.15% | 1.63% | 1.53% | 2.12% | 1.63% | -2.12% | 3.18% | -2.75% | 13.73% |
| 2023 | 5.70% | -2.53% | 2.91% | 0.82% | -1.22% | 4.88% | 2.37% | -2.01% | -3.65% | -2.39% | 7.76% | 4.52% | 17.66% |
| 2022 | -4.68% | -3.03% | 1.33% | -7.28% | 0.87% | -7.11% | 6.23% | -3.80% | -7.98% | 5.71% | 6.91% | -3.81% | -16.84% |
| 2021 | -0.59% | 1.57% | 3.12% | 3.81% | 1.38% | 1.03% | 0.96% | 2.31% | -4.15% | 4.62% | -2.21% | 3.75% | 16.35% |
Benchmark Metrics
Franklin LifeSmart 2040 Retirement Target Fund has an annualized alpha of 2.16%, beta of 0.57, and R² of 0.43 versus S&P 500 Index. Calculated based on daily prices since January 05, 2015.
- This fund participated in 83.38% of S&P 500 Index downside but only 74.70% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.57 may look defensive, but with R² of 0.43 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.43 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 2.16%
- Beta
- 0.57
- R²
- 0.43
- Upside Capture
- 74.70%
- Downside Capture
- 83.38%
Expense Ratio
FLSHX has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
FLSHX ranks 61 for risk / return — better than 61% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Franklin LifeSmart 2040 Retirement Target Fund (FLSHX) and compare them to a chosen benchmark (S&P 500 Index).
| FLSHX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.11 | 0.90 | +0.22 |
Sortino ratioReturn per unit of downside risk | 1.65 | 1.39 | +0.27 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.40 | -0.06 |
Martin ratioReturn relative to average drawdown | 6.28 | 6.61 | -0.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore FLSHX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Franklin LifeSmart 2040 Retirement Target Fund provided a 6.50% dividend yield over the last twelve months, with an annual payout of $1.02 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.02 | $1.04 | $0.48 | $0.35 | $0.48 | $3.35 | $0.49 | $0.36 | $0.55 | $0.26 | $0.18 | $0.33 |
Dividend yield | 6.50% | 6.40% | 3.27% | 2.66% | 4.16% | 23.09% | 3.21% | 2.60% | 4.75% | 2.02% | 1.63% | 2.98% |
Monthly Dividends
The table displays the monthly dividend distributions for Franklin LifeSmart 2040 Retirement Target Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $1.04 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.25 | $0.48 |
| 2023 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.11 | $0.35 |
| 2022 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.40 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.03 | $0.48 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $2.96 | $3.35 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Franklin LifeSmart 2040 Retirement Target Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Franklin LifeSmart 2040 Retirement Target Fund was 36.65%, occurring on Oct 14, 2022. Recovery took 676 trading sessions.
The current Franklin LifeSmart 2040 Retirement Target Fund drawdown is 8.16%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -36.65% | Dec 31, 2021 | 199 | Oct 14, 2022 | 676 | Jun 27, 2025 | 875 |
| -29.87% | Feb 20, 2020 | 24 | Mar 24, 2020 | 93 | Aug 5, 2020 | 117 |
| -18.46% | May 22, 2015 | 183 | Feb 11, 2016 | 258 | Feb 21, 2017 | 441 |
| -14.9% | Jan 29, 2018 | 229 | Dec 24, 2018 | 81 | Apr 23, 2019 | 310 |
| -8.16% | Feb 26, 2026 | 23 | Mar 30, 2026 | — | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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