FMLTX Fees and Costs — Franklin LifeSmart 2045 Retirement Target Fund, Class R6
Data updated: 2026-08-27
The net expense ratio is 0.40% (0.70% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0110% of average net assets, and portfolio turnover was 23%.
FMLTX Fees and Expenses
Annual operating expenses and sales charges of FMLTX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.24% |
| Gross expense ratio | 0.70% |
| Fee waiver | −0.30% |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FMLTX Costs Over Time
On $10,000 invested in FMLTX, assuming 5% a year before costs, total costs come to $260 over 5 years, cutting the return by 0.43% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $142 | $260 |
| Value after costs | $10,457 | $11,434 | $12,503 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
FMLTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0110%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $72.0M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
FMLTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $4K | 35.78% |
| Old Mission Markets LLC | $3K | 25.66% |
| Citadel Securities LLC | $2K | 18.67% |
| Flow Traders U.S. Institutional Trading LLC | $1K | 8.50% |
| Susquehanna Financial Group, LLLP | $851 | 6.96% |
| Mischler Financial Group, Inc. | $540 | 4.42% |
FMLTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $60.5M | 91.35% |
| Fiduciary Trust Company International | $5.7M | 8.65% |
Franklin LifeSmart 2045 Retirement Target Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMLTX | Class R6 | 0.40% | none |
| FLRLX | Advisor Class | 0.45% | none |
| FTTAX | Class A | 0.70% | 5.50% |
| FLRJX | Class R | 0.95% | none |
| FLRIX | Class C | 1.45% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.