FLRLX vs. FRIAX
FLRLX (Franklin LifeSmart 2045 Retirement Target Fund) and FRIAX (Franklin Income Fund Advisor Class) are both mutual funds - FLRLX is a Target Retirement Date fund managed by Franklin Templeton, while FRIAX is a Diversified Portfolio fund managed by Franklin Templeton. Over the past 10 years, FLRLX returned 10.74%/yr vs 7.29%/yr for FRIAX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. FLRLX charges 0.25%/yr vs 0.46%/yr for FRIAX.
Performance
FLRLX vs. FRIAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLRLX achieves a 9.29% return, which is significantly higher than FRIAX's 5.78% return. Over the past 10 years, FLRLX has outperformed FRIAX with an annualized return of 10.74%, while FRIAX has yielded a comparatively lower 7.29% annualized return.
FLRLX
- 1D
- 2.02%
- 1M
- -0.37%
- 6M
- 6.22%
- YTD
- 9.29%
- 1Y
- 20.61%
- 3Y*
- 16.28%
- 5Y*
- 9.16%
- 10Y*
- 10.74%
- ALL TIME*
- 9.33%
FRIAX
- 1D
- 0.40%
- 1M
- 0.00%
- 6M
- 2.79%
- YTD
- 5.78%
- 1Y
- 12.15%
- 3Y*
- 9.55%
- 5Y*
- 6.50%
- 10Y*
- 7.29%
- ALL TIME*
- 7.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FLRLX vs. FRIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRLX Franklin LifeSmart 2045 Retirement Target Fund | 9.29% | 20.46% | 14.99% | 18.90% | -17.36% | 17.28% | 16.02% | 22.52% | -7.14% | 19.04% |
FRIAX Franklin Income Fund Advisor Class | 5.78% | 12.02% | 7.29% | 8.84% | -5.36% | 17.51% | 3.72% | 16.02% | -5.23% | 8.63% |
Correlation
The correlation between FLRLX and FRIAX is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2015 | 0.71 |
Over the past year, the correlation between FLRLX and FRIAX has dropped to 0.50 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLRLX vs. FRIAX — Risk / Return Rank
FLRLX
FRIAX
FLRLX vs. FRIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin LifeSmart 2045 Retirement Target Fund (FLRLX) and Franklin Income Fund Advisor Class (FRIAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FLRLX | FRIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.52 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 3.85 | -1.71 |
| Martin ratioReturn relative to average drawdown | 9.01 | 14.58 | -5.57 |
Loading charts...
Drawdowns
FLRLX vs. FRIAX - Drawdown Comparison
The maximum FLRLX drawdown since its inception was -36.66%, smaller than the maximum FRIAX drawdown of -43.23%. Use the drawdown chart below to compare losses from any high point for FLRLX and FRIAX.
Loading charts...
Drawdown Indicators
| FLRLX | FRIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.66% | -43.23% | +6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -3.06% | -5.86% |
Max Drawdown (3Y)Largest decline over 3 years | -14.50% | -7.08% | -7.42% |
Max Drawdown (5Y)Largest decline over 5 years | -36.66% | -13.63% | -23.03% |
Max Drawdown (10Y)Largest decline over 10 years | -36.66% | -24.10% | -12.56% |
Current DrawdownCurrent decline from peak | -1.75% | 0.00% | -1.75% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -3.90% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 0.81% | +1.30% |
Volatility
FLRLX vs. FRIAX - Volatility Comparison
Franklin LifeSmart 2045 Retirement Target Fund (FLRLX) has a higher volatility of 3.82% compared to Franklin Income Fund Advisor Class (FRIAX) at 1.51%. This indicates that FLRLX's price experiences larger fluctuations and is considered to be riskier than FRIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FLRLX | FRIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 1.51% | +2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 3.74% | +6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 5.03% | +7.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.20% | 7.91% | +10.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 9.20% | +7.18% |
FLRLX vs. FRIAX - Expense Ratio Comparison
FLRLX has a 0.25% expense ratio, which is lower than FRIAX's 0.46% expense ratio.
Dividends
FLRLX vs. FRIAX - Dividend Comparison
FLRLX's dividend yield for the trailing twelve months is around 6.14%, more than FRIAX's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRLX Franklin LifeSmart 2045 Retirement Target Fund | 6.14% | 6.74% | 3.17% | 2.49% | 4.28% | 21.72% | 4.14% | 3.20% | 6.45% | 2.33% | 2.44% | 4.46% |
FRIAX Franklin Income Fund Advisor Class | 5.28% | 5.75% | 5.74% | 5.67% | 5.24% | 6.70% | 5.37% | 5.25% | 5.80% | 5.20% | 4.92% | 5.93% |
Frequently Asked Questions
FLRLX and FRIAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLRLX has higher volatility (3.82%) compared to FRIAX (1.51%). In terms of maximum drawdown, FLRLX dropped -36.66% vs FRIAX's -43.23%.
FRIAX currently has the higher Sharpe Ratio (2.36 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for FLRLX and FRIAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer