FLSHX vs. DRILX

Last updated Jun 24, 2026

FLSHX (Franklin LifeSmart 2040 Retirement Target Fund) and DRILX (Dimensional 2060 Target Date Retirement Income Fund) are both Target Retirement Date funds. Over the past 10 years, FLSHX returned 10.80%/yr vs 13.01%/yr for DRILX. With a 0.96 correlation, they move nearly in lockstep. FLSHX charges 0.25%/yr vs 0.22%/yr for DRILX.

Performance

FLSHX vs. DRILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LifeSmart 2040 Retirement Target Fund (FLSHX) and Dimensional 2060 Target Date Retirement Income Fund (DRILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLSHX achieves a 9.84% return, which is significantly lower than DRILX's 11.48% return. Over the past 10 years, FLSHX has underperformed DRILX with an annualized return of 10.80%, while DRILX has yielded a comparatively higher 13.01% annualized return.

FLSHX

• 1D: -0.17%
• 1M: 1.71%
• YTD: 9.84%
• 6M: 9.29%
• 1Y: 23.07%
• 3Y*: 17.20%
• 5Y*: 9.08%
• 10Y*: 10.80%

DRILX

• 1D: -0.16%
• 1M: 1.10%
• YTD: 11.48%
• 6M: 10.71%
• 1Y: 26.12%
• 3Y*: 19.74%
• 5Y*: 11.56%
• 10Y*: 13.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLSHX vs. DRILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLSHX Franklin LifeSmart 2040 Retirement Target Fund	9.84%	19.16%	13.73%	17.66%	-16.84%	16.35%	15.32%	21.68%	-6.82%	18.88%
DRILX Dimensional 2060 Target Date Retirement Income Fund	11.48%	19.66%	17.10%	21.37%	-15.28%	21.08%	14.10%	25.61%	-9.07%	21.51%

Correlation

The correlation between FLSHX and DRILX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.96

The correlation between FLSHX and DRILX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

Return for Risk

FLSHX vs. DRILX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLSHX

FLSHX Risk / Return Rank: 68
FLSHX Sharpe Ratio Rank: 69
FLSHX Sortino Ratio Rank: 66
FLSHX Omega Ratio Rank: 68
FLSHX Calmar Ratio Rank: 65
FLSHX Martin Ratio Rank: 72

DRILX

DRILX Risk / Return Rank: 80
DRILX Sharpe Ratio Rank: 82
DRILX Sortino Ratio Rank: 78
DRILX Omega Ratio Rank: 76
DRILX Calmar Ratio Rank: 79
DRILX Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLSHX vs. DRILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LifeSmart 2040 Retirement Target Fund (FLSHX) and Dimensional 2060 Target Date Retirement Income Fund (DRILX). 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.

	FLSHX	DRILX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.48	-0.25
Sortino ratio: Return per unit of downside risk	3.09	3.42	-0.33
Omega ratio: Gain probability vs. loss probability	1.42	1.45	-0.03
Calmar ratio: Return relative to maximum drawdown	2.95	3.40	-0.44
Martin ratio: Return relative to average drawdown	12.89	14.59	-1.70

FLSHX vs. DRILX - Sharpe Ratio Comparison

The current FLSHX Sharpe Ratio is 2.23, which is comparable to the DRILX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of FLSHX and DRILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLSHX vs. DRILX - Drawdown Comparison

The maximum FLSHX drawdown since its inception was -36.65%, which is greater than DRILX's maximum drawdown of -33.48%. Use the drawdown chart below to compare losses from any high point for FLSHX and DRILX.

Drawdown Indicators

	FLSHX	DRILX	Difference
Max Drawdown Largest peak-to-trough decline	-36.65%	-33.48%	-3.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-8.58%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-15.76%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-36.65%	-23.50%	-13.15%
Max Drawdown (10Y) Largest decline over 10 years	-36.65%	-33.48%	-3.17%
Current Drawdown Current decline from peak	-0.38%	-0.81%	+0.43%
Average Drawdown Average peak-to-trough decline	-8.16%	-4.22%	-3.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.93%	-0.06%

Volatility

FLSHX vs. DRILX - Volatility Comparison

Franklin LifeSmart 2040 Retirement Target Fund (FLSHX) and Dimensional 2060 Target Date Retirement Income Fund (DRILX) have volatilities of 4.29% and 4.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLSHX	DRILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	4.48%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	9.05%	9.58%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	11.77%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	14.93%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	15.78%	+0.32%

FLSHX vs. DRILX - Expense Ratio Comparison

FLSHX has a 0.25% expense ratio, which is higher than DRILX's 0.22% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLSHX vs. DRILX - Dividend Comparison

FLSHX's dividend yield for the trailing twelve months is around 5.72%, more than DRILX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRILX Dimensional 2060 Target Date Retirement Income Fund	1.35%	1.47%	2.40%	3.26%	3.97%	2.25%	2.11%	2.12%	2.25%	0.91%	1.96%	0.00%
FLSHX Franklin LifeSmart 2040 Retirement Target Fund	5.72%	6.40%	3.27%	2.66%	4.16%	23.09%	3.21%	2.60%	4.75%	2.02%	1.63%	2.98%

Frequently Asked Questions

Can I hold both FLSHX and DRILX in my portfolio?

With a correlation of 0.91, FLSHX and DRILX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FLSHX or DRILX?

DRILX has higher volatility (4.48%) compared to FLSHX (4.29%). In terms of maximum drawdown, FLSHX dropped -36.65% vs DRILX's -33.48%.

Which has better risk-adjusted returns?

DRILX currently has the higher Sharpe Ratio (2.48 vs 2.23), 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.