# Portfolio overlap — FRLEX vs QLMLTX

Comparing **Franklin LifeSmart 2050 Retirement Target Fund** (2026-03-31) and **Franklin Multi-Asset Variable Growth** (2026-03-31).

- Shared positions: 3
- Franklin LifeSmart 2050 Retirement Target Fund covered by Franklin Multi-Asset Variable Growth: 0.1592181606723319284814111618
- Franklin Multi-Asset Variable Growth covered by Franklin LifeSmart 2050 Retirement Target Fund: 0.1592181606723319284814111618

## Franklin LifeSmart 2050 Retirement Target Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Franklin U.S. Core Equity (IU) Fund | 0.226662 |  |
| Franklin International Core Equity (IU) Fund | 0.119736 |  |
| Franklin U.S. Equity Index ETF | 0.098441 |  |
| Putnam Large Cap Value Fund, Class R6 | 0.082847 | ✓ |
| Franklin Growth Fund, Class R6 | 0.078194 |  |
| Franklin Emerging Market Core Equity (IU) Fund | 0.064149 |  |
| Franklin U.S. Large Cap Multifactor Index ETF | 0.063379 |  |
| Franklin Templeton ETF Trust FTSE JAPAN ETF | 0.052842 |  |
| Templeton Developing Markets Trust, Class R6 | 0.048955 |  |
| Putnam Large Cap Growth Fund, Class R6 | 0.045140 | ✓ |
| Franklin U.S. Core Bond ETF | 0.031231 | ✓ |
| Franklin Institutional US Government Money Market Fund | 0.030502 |  |
| Templeton Foreign Fund, Class R6 | 0.020917 |  |
| ClearBridge International Growth Fund, Class IS | 0.012390 |  |
| Franklin Systematic Style Premia ETF | 0.010598 |  |
| ISHARES CORE MSCI EMERGING MUTUAL FUND | 0.009854 |  |
| ISH CORE EAFE | 0.004161 |  |

## Franklin Multi-Asset Variable Growth — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Franklin U.S. Large Cap Equity Fund | 0.310130 |  |
| Putnam Large Cap Value Fund, Class R6 | 0.184141 | ✓ |
| Putnam Large Cap Growth Fund, Class R6 | 0.177099 | ✓ |
| Franklin International Equity Fund | 0.138360 |  |
| Franklin Small Cap Enhanced ETF | 0.055683 |  |
| ClearBridge Large Cap Growth Fund | 0.055647 |  |
| Franklin U.S. Core Bond ETF | 0.047369 | ✓ |
| Invesco Government & Agency Portfolio, Institutional Class | 0.015765 |  |
| Franklin U.S. Treasury Bond ETF | 0.011079 |  |
| Franklin Investment Grade Corporate ETF | 0.004727 |  |


## Sources

- N-PORT (fund A) — accession `0002071691-26-012217` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1022804/000207169126012217/0002071691-26-012217-index.htm>
- N-PORT (fund B) — accession `0000940400-26-021660` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1176343/000094040026021660/0000940400-26-021660-index.htm>

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_Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._

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