Franklin Global Allocation Fund
Franklin Fund Allocator Series · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Franklin Global Allocation Fund is a moderate allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Moderate
Fund profile
As filed in the prospectus · 2026 Q2
The highest level of long-term total return that is consistent with an acceptable level of risk.
The fund seeks long-term total return by holding a diversified portfolio of debt and equity securities, with tactical shifts between asset classes based on the manager's analysis of market opportunities. The manager performs independent analysis of securities rather than relying on ratings, and may use quantitative modeling to identify undervalued opportunities across any sector or market capitalization. The fund maintains foreign exposure of at least 30–40% of net assets under normal conditions, invests up to 10% in alternative strategies including commodity exposure, and may hold commodity-linked derivatives indirectly through a wholly-owned Cayman Islands subsidiary. Because the fund shifts allocations tactically and may concentrate in particular sectors based on economic conditions, performance will depend on the manager's timing and security selection decisions.
| Share class | Gross | Net |
|---|---|---|
| FFALX | 1.02% | 1.00% |
| FFACX | 1.77% | 1.75% |
| FFARX | 1.27% | 1.25% |
| FFAAX | 0.77% | 0.75% |
| FFAQX | 0.74% | 0.69% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 33.16% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 57.52% |
| Bonds | 27.05% |
| Other | 7.70% |
| Cash & short-term | 4.20% |
| Securitized | 2.42% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 23.5% |
| Government | 18.7% |
| Information Technology | 12.3% |
| Other | 10.8% |
| 12 smaller | 34.7% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: Clarion Partners Real Estate Income Fund, Inc., United States of America ×3, SK Hynix, Inc., United Kingdom of Great Britain and Northern Ireland, MU, UNH
Largest exited: United Kingdom of Great Britain and Northern Ireland, Federal Republic of Germany ×2, Asian Development Bank, Canada, CTVA, Chobani Holdco II LLC, EXPD
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +20.53% | +47.40% | +45.79% | 8.72% | -6.91% | |
| +19.56% | +44.09% | +40.32% | 8.70% | -7.13% | |
| +20.17% | +46.32% | +43.93% | 8.74% | -6.96% | |
| +20.80% | +48.39% | +47.55% | 8.75% | -6.85% | |
| +20.90% | +48.78% | +48.02% | 8.71% | -6.82% |
These classes hold the same portfolio, so the 7.70pp spread over 5 years is the cost difference between them — roughly 1.54pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 9.0% |
| 1-3y | 24.0% |
| 3-5y | 8.9% |
| 5-10y | 34.7% |
| 10y+ | 23.4% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 50% |
| Credit spreads | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.37 yr |
| High yield | +0.10 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.12 yr | 8% |
| 5 yr | 0.43 yr | 29% |
| 10 yr | 0.63 yr | 43% |
| 30 yr | 0.29 yr | 20% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.12 yr | 8% |
| 5 yr | 0.43 yr | 29% |
| 10 yr | 0.62 yr | 42% |
| 30 yr | 0.29 yr | 20% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $1.3k | $91 |
| 1 yr | +0.12 | +0.12 | +0.00 | $35.4k | $950 |
| 5 yr | +0.43 | +0.36 | +0.07 | $105.6k | $20.7k |
| 10 yr | +0.63 | +0.60 | +0.03 | $176.6k | $7.4k |
| 30 yr | +0.29 | +0.29 | +0.00 | $86.0k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 1.48 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| INFXX | Franklin Institutional U.S. Government Money Market FundINFXX | 4.20% | — | $123.92M | — |
| AAPL | Apple, Inc.AAPL | 3.07% | $289.36 | $90.57M | 313.0K |
| NVDA | NVIDIA Corp.NVDA | 2.99% | $200.09 | $88.21M | 440.8K |
| FBREX | Franklin BSP Lending FundFBREX | 2.41% | — | $71.16M | — |
| GOOGL | Alphabet, Inc.GOOGL | 2.41% | $357.37 | $71.02M | 198.7K |
| — | Franklin Systematic Style Premia ETF | 2.09% | — | $61.61M | — |
| TSM | Taiwan Semiconductor Manufacturing Co. Ltd.TSM | 1.68% | $477.57 | $49.47M | 103.6K |
| AMZN | Amazon.com, Inc.AMZN | 1.54% | $238.34 | $45.35M | 190.3K |
| — | Clarion Partners Real Estate Income Fund, Inc. | 1.52% | — | $44.81M | — |
| — | United States of America3.88% · due 2028-03-15 | 1.42% | — | $41.80M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 23.32% of net assets, top 25 38.28%, across 243 issuers.
See more of this fund's book
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