Morningstar

Franklin Retirement Advantage Plus 2040 Fund Class Y PRZZX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 33.19  /  −0.24 %
  • Total Assets 423.6M
  • Adj. Expense Ratio
    0.600%
  • Expense Ratio 0.090%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Target-Date 2040
  • Investment Style Large Blend
  • Credit Quality / Interest Rate Sensitivity —
  • Status Open
  • TTM Yield 1.81%
  • Turnover 17%

USD | NAV as of Jul 21, 2026 | 1-Day Return as of Jul 21, 2026, 12:11 AM GMT+0

Morningstar’s Analysis PRZZX

Will PRZZX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRZZX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PRZZX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PRZZX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Putnam Retirement Advantage Plus 2040 Y holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
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Portfolio Holdings PRZZX

More PRZZX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 99.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Franklin Dynamic Asset Allocation Gr P

55.65 238M
—

Franklin Dynamic Asset Allocation Bal P

34.63 148M
—

Putnam Fds Tr

3.72 16M
—

Franklin BSP Lending R6

2.83 12M
—

Clarion Partners Real Estate Inc I

2.81 12M
—

Usd

0.36 2M
Cash and Equivalents

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