FRELX Fees and Costs — Franklin LifeSmart 2025 Retirement Target Fund, Class R
Data updated: 2026-08-27
The net expense ratio is 0.95% (1.22% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $21K in broker commissions, 0.0194% of average net assets, and portfolio turnover was 21%.
FRELX Fees and Expenses
Annual operating expenses and sales charges of FRELX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.95% |
| 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 |
FRELX Costs Over Time
On $10,000 invested in FRELX, assuming 5% a year before costs, total costs come to $607 over 5 years, cutting the return by 1.02% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $333 | $607 |
| Value after costs | $10,398 | $11,243 | $12,156 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
FRELX 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): 0.0194%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $70.4M
- Portfolio turnover (prospectus): 21%
- Securities lending: none during the year
FRELX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $8K | 38.87% |
| Jane Street Execution Services, LLC | $6K | 29.83% |
| Old Mission Markets LLC | $3K | 13.06% |
| Flow Traders U.S. Institutional Trading LLC | $2K | 11.68% |
| Mischler Financial Group, Inc. | $786 | 3.73% |
| Susquehanna Financial Group, LLLP | $595 | 2.82% |
| Goldman Sachs & Co. LLC | $2 | 0.01% |
FRELX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $63.0M | 94.67% |
| Fiduciary Trust Company International | $3.5M | 5.33% |
Franklin LifeSmart 2025 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 |
|---|---|---|---|
| FTLMX | Class R6 | 0.40% | none |
| FLRFX | Advisor Class | 0.45% | none |
| FTRTX | Class A | 0.70% | 5.50% |
| FRELX | Class R | 0.95% | none |
| FTTCX | 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.