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Empower Lifetime 2040 Fund
mutual fund
MXBGX
Payout Change
Pending
Price as of:
$11.44
-0.06
-0.52%
primary theme
Target-Date 2040
share class
MXBGX (Mutual Fund)
Empower Lifetime 2040 Fund
Payout Change
Pending
Price as of:
$11.44
-0.06
-0.52%
primary theme
Target-Date 2040
share class
MXBGX (Mutual Fund)
Empower Lifetime 2040 Fund
Payout Change
Pending
Price as of:
$11.44
-0.06
-0.52%
primary theme
Target-Date 2040
share class
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
14.2%
1 yr return
18.9%
3 Yr Avg Return
1.9%
5 Yr Avg Return
7.1%
Net Assets
$418 M
Holdings in Top 10
67.7%
52 WEEK LOW AND HIGH
$11.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.56%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MXBGX - Profile
Distributions
- YTD Total Return 14.2%
- 3 Yr Annualized Total Return 1.9%
- 5 Yr Annualized Total Return 7.1%
- Capital Gain Distribution Frequency Semi-Monthly
- Net Income Ratio 3.22%
- Dividend Yield 0.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameEmpower Lifetime 2040 Fund
-
Fund Family NameGreat-West Funds
-
Inception DateApr 28, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAndrew Corwin
Fund Description
Below is a summary of the principal investment strategies of the Fund.The Fund is a “fund-of-funds” that seeks to achieve its objective by investing in a professionally selected mix of mutual funds and in a fixed interest contract (the “Contract” or the “Empower of America Contract”) issued and guaranteed by Empower Annuity Insurance Company of America (“Empower of America”) that is tailored for investors planning to retire in (or otherwise begin using the invested funds on), or close to, 2040 (which is assumed to be at age 65). The mutual funds and the Contract are referred to as the “Underlying Funds.” The Fund is designed for investors who plan to withdraw the value of their account in the Fund gradually after retirement. Depending on its risk profile and proximity to 2040, the Fund employs a combination of investments among Underlying Funds in order to emphasize, as appropriate, growth, income and/or preservation of capital. The Fund currently expects (as of the date of this Prospectus) to invest 65-85% of its net assets in Underlying Funds that invest primarily in equity securities, 10-30% of its net assets in Underlying Funds that invest primarily in fixed income securities, and 0-10% of its net assets in Underlying Funds that invest primarily in real estate-related securities. Over time, the Fund’s asset allocation strategy will generally become more conservative, with greater emphasis on investments that provide for income and preservation of capital, and less on those offering the potential for growth.The following chart illustrates the Fund’s target asset allocations among U.S. equity, foreign equity, fixed income, and real estate-related securities as of the date of this Prospectus. The chart represents the asset allocation path (the “glide path”) that the Fund follows to become more conservative over time. The glide path reflects the declining percentage of equities in the Fund as it approaches and passes the target date. The glide path provides for more exposure to equities for investors further from retirement and more exposure to fixed income securities for investors near and through retirement. The glide path continues to adjust the Fund’s equity exposure downward after the target date is reached.The illustration reflects the Fund’s neutral allocations without any tactical adjustments by Empower Capital Management, LLC (“ECM”), the Fund’s investment adviser. The Fund’s actual asset allocations may differ from this illustration to reflect ECM’s tactical adjustments to the asset mix based on market outlook or other factors.ECM uses asset allocation strategies to allocate the Fund’s assets among different broad asset classes and the Underlying Funds. Each Underlying Fund has its own investment objectives and strategies and may hold a wide range of securities and other instruments in its portfolio, including, without limitation, U.S. and foreign equity securities (including those from emerging markets), U.S. and foreign fixed income securities (including those rated below investment grade), real estate investments, short-term investments and derivatives. The following table shows the Fund’s target allocation for the various asset classes and the Underlying Funds in which the Fund expects to invest as of the date of this Prospectus:Large Cap27.59%Empower Large Cap Growth Fund InstitutionalEmpower Large Cap Value Fund InstitutionalEmpower S&P 500® Index Fund InstitutionalMid Cap11.82%Empower Ariel Mid Cap Value Fund InstitutionalEmpower Mid Cap Value Fund InstitutionalEmpower S&P Mid Cap 400® Index Fund InstitutionalEmpower T. Rowe Price Mid Cap Growth Fund InstitutionalSmall Cap8.18%Empower Small Cap Growth Fund InstitutionalEmpower Small Cap Value Fund InstitutionalEmpower S&P Small Cap 600® Index Fund InstitutionalJanus Henderson Triton Fund NInternational19.62%Empower International Growth Fund InstitutionalEmpower International Index Fund InstitutionalEmpower International Value Fund InstitutionalEmerging Markets7.92%Empower Emerging Markets Equity Fund InstitutionalFidelity Emerging Markets Index FundBond18.13%Empower Bond Index Fund InstitutionalEmpower Core Bond Fund InstitutionalEmpower Global Bond Fund InstitutionalEmpower High Yield Bond Fund InstitutionalEmpower Inflation-Protected Securities Fund InstitutionalEmpower Multi-Sector Bond Fund InstitutionalReal Estate3.53%American Century Real Estate Fund R6DFA International Real Estate Securities Portfolio IEmpower Real Estate Index Fund InstitutionalShort-Term Bond/Cash3.21%Empower of America ContractEmpower Short Duration Bond Fund InstitutionalThe Fund will rebalance its holdings of the Underlying Funds on a periodic basis to maintain the appropriate asset allocations. ECM reviews asset class allocations, Underlying Fund allocations, and the Underlying Funds on a quarterly basis, or more frequently as deemed necessary. ECM may add or delete asset classes, change target asset class or Underlying Fund allocations, or add or delete Underlying Funds at any time without shareholder notice or approval.
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MXBGX - Performance
Return Ranking - Trailing
| Period | MXBGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.2% | 12.0% | 25.9% | 92.51% |
| 1 Yr | 18.9% | 16.1% | 27.1% | 86.63% |
| 3 Yr | 1.9%* | -0.3% | 7.4% | 95.16% |
| 5 Yr | 7.1%* | 6.0% | 11.1% | 90.91% |
| 10 Yr | N/A* | 5.8% | 9.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MXBGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.5% | 9.0% | 18.3% | 96.77% |
| 2022 | -24.4% | -60.3% | -15.8% | 63.44% |
| 2021 | 4.3% | -6.3% | 17.5% | 69.49% |
| 2020 | 6.5% | 3.3% | 14.9% | 95.15% |
| 2019 | N/A | 6.0% | 22.6% | 65.00% |
Total Return Ranking - Trailing
| Period | MXBGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.2% | 12.0% | 25.9% | 92.51% |
| 1 Yr | 18.9% | 16.1% | 27.1% | 86.63% |
| 3 Yr | 1.9%* | -0.3% | 7.4% | 95.16% |
| 5 Yr | 7.1%* | 6.0% | 11.1% | 90.91% |
| 10 Yr | N/A* | 5.8% | 9.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MXBGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.1% | 11.9% | 37.9% | 85.48% |
| 2022 | -16.0% | -29.4% | -2.8% | 24.19% |
| 2021 | 8.4% | 8.3% | 22.1% | 99.44% |
| 2020 | 14.0% | 8.2% | 22.1% | 75.76% |
| 2019 | N/A | 19.6% | 40.1% | 64.38% |
NAV & Total Return History
MXBGX - Holdings
Concentration Analysis
| MXBGX | Category Low | Category High | MXBGX % Rank | |
|---|---|---|---|---|
| Net Assets | 418 M | 7.86 M | 82.6 B | 64.17% |
| Number of Holdings | 27 | 3 | 590 | 27.27% |
| Net Assets in Top 10 | 392 M | 7.3 M | 93.1 B | 62.57% |
| Weighting of Top 10 | 67.67% | 41.1% | 139.0% | 82.70% |
Top 10 Holdings
- SP 500 INDEX FUND-INST 13.85%
- INTERNATIONAL INDEX FUND-INST 9.82%
- LARGE CAP VALUE-INST 7.17%
- MULTI-MAN LRG CAP GROWTH-INST 6.59%
- BOND INDEX FUND-INST 6.32%
- SP MID CAP 400 IND FUND-INST 5.88%
- MFS INTL VALUE FUND-INST 5.18%
- MFS INTL GROWTH FUND-INST 4.60%
- FIDELITY EMRG MKT 4.14%
- EM EQUITY FUND INST CL 4.12%
Asset Allocation
| Weighting | Return Low | Return High | MXBGX % Rank | |
|---|---|---|---|---|
| Stocks | 97.79% | 0.00% | 100.10% | 68.98% |
| Bonds | 2.24% | 0.00% | 16.22% | 9.63% |
| Convertible Bonds | 0.56% | 0.00% | 0.98% | 3.74% |
| Preferred Stocks | 0.00% | 0.00% | 0.03% | 51.34% |
| Other | 0.00% | -0.02% | 3.30% | 54.55% |
| Cash | 0.00% | 0.00% | 40.33% | 93.58% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MXBGX % Rank | |
|---|---|---|---|---|
| Technology | 17.18% | 13.94% | 24.03% | 93.05% |
| Financial Services | 15.27% | 13.11% | 18.83% | 42.25% |
| Healthcare | 12.02% | 10.75% | 14.53% | 77.54% |
| Industrials | 11.97% | 9.02% | 12.29% | 8.02% |
| Consumer Cyclical | 11.32% | 8.05% | 13.32% | 43.32% |
| Real Estate | 8.72% | 1.87% | 10.11% | 12.83% |
| Communication Services | 6.92% | 5.69% | 10.24% | 66.31% |
| Consumer Defense | 6.60% | 4.68% | 11.06% | 60.43% |
| Basic Materials | 4.73% | 3.14% | 6.86% | 55.61% |
| Energy | 2.85% | 2.33% | 6.31% | 93.58% |
| Utilities | 2.41% | 1.90% | 8.13% | 79.14% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MXBGX % Rank | |
|---|---|---|---|---|
| US | 97.79% | 0.00% | 100.10% | 68.98% |
| Non US | 0.00% | 0.00% | 31.64% | 54.01% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MXBGX % Rank | |
|---|---|---|---|---|
| Corporate | 39.91% | 4.05% | 50.07% | 3.74% |
| Government | 32.59% | 13.41% | 62.05% | 66.31% |
| Securitized | 23.90% | 0.00% | 36.42% | 18.18% |
| Municipal | 0.40% | 0.00% | 4.64% | 26.74% |
| Derivative | 0.00% | -0.02% | 0.81% | 49.20% |
| Cash & Equivalents | 0.00% | 0.00% | 49.63% | 74.33% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MXBGX % Rank | |
|---|---|---|---|---|
| US | 2.24% | 0.00% | 15.24% | 9.63% |
| Non US | 0.00% | 0.00% | 1.18% | 51.87% |
MXBGX - Expenses
Operational Fees
| MXBGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.56% | 0.01% | 6.94% | 71.66% |
| Management Fee | 0.12% | 0.00% | 0.86% | 40.76% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 5.38% |
| Administrative Fee | N/A | 0.01% | 0.29% | 2.64% |
Sales Fees
| MXBGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MXBGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MXBGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 24.00% | 2.00% | 112.00% | 56.80% |
MXBGX - Distributions
Dividend Yield Analysis
| MXBGX | Category Low | Category High | MXBGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 8.83% | 28.34% |
Dividend Distribution Analysis
| MXBGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MXBGX | Category Low | Category High | MXBGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.22% | -0.21% | 4.18% | 2.20% |
Capital Gain Distribution Analysis
| MXBGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Monthly | Annually | Semi-Monthly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 10, 2024 | $0.369 | CapitalGainLongTerm |
| Dec 28, 2023 | $0.197 | OrdinaryDividend |
| Dec 28, 2023 | $0.068 | CapitalGainLongTerm |
| Sep 08, 2023 | $0.003 | OrdinaryDividend |
| Sep 08, 2023 | $0.250 | CapitalGainLongTerm |
| Jun 27, 2023 | $0.082 | OrdinaryDividend |
| Dec 29, 2022 | $0.155 | OrdinaryDividend |
| Dec 29, 2022 | $0.163 | CapitalGainLongTerm |
| Sep 08, 2022 | $0.004 | OrdinaryDividend |
| Sep 08, 2022 | $0.664 | CapitalGainLongTerm |
| Jun 27, 2022 | $0.064 | OrdinaryDividend |
| Sep 07, 2021 | $0.001 | OrdinaryDividend |
| Sep 07, 2021 | $0.457 | CapitalGainLongTerm |
| Jun 25, 2021 | $0.054 | OrdinaryDividend |
| Dec 30, 2020 | $0.166 | OrdinaryDividend |
| Dec 30, 2020 | $0.166 | CapitalGainLongTerm |
| Sep 08, 2020 | $0.003 | OrdinaryDividend |
| Sep 08, 2020 | $0.372 | CapitalGainLongTerm |
| Jun 26, 2020 | $0.063 | OrdinaryDividend |
| Dec 30, 2019 | $0.072 | CapitalGainLongTerm |
| Dec 30, 2019 | $0.185 | OrdinaryDividend |
| Sep 10, 2019 | $0.743 | CapitalGainLongTerm |
| Jun 26, 2019 | $0.072 | OrdinaryDividend |
| Dec 28, 2018 | $0.244 | OrdinaryDividend |
| Dec 28, 2018 | $0.220 | CapitalGainLongTerm |
| Sep 11, 2018 | $0.029 | ExtraDividend |
| Sep 11, 2018 | $0.244 | CapitalGainLongTerm |
| Jun 27, 2018 | $0.071 | OrdinaryDividend |
| Dec 28, 2017 | $0.430 | OrdinaryDividend |
| Dec 28, 2017 | $0.179 | CapitalGainLongTerm |
MXBGX - Fund Manager Analysis
Managers
Andrew Corwin
Start Date
Tenure
Tenure Rank
Apr 28, 2016
6.09
6.1%
Andrew Corwin, CFA, Portfolio Manager, has managed since 2014. Andrew Corwin, Assistant Portfolio Manager, has joined Great-West Capital Management, LLC since 2011. Mr. Corwin was previously an Investment Analyst and Investment Consultant at Strategies, LLC 2009-2011. Mr. Corwin received a B.S. in business administration with an emphasis in finance as well as a minor in mathematics from the University of Colorado.
Maria Mendelsberg
Start Date
Tenure
Tenure Rank
Apr 30, 2018
4.09
4.1%
Maria Mendelsberg, CFA, Portfolio Manager, has managed the Funds since 2018. In addition to the Funds, Ms. Mendelsberg manages the Great-West Profile Funds, Great-West Conservative Lifetime Funds, and Great-West SecureFoundation Funds. Ms. Mendelsberg was previously a Partner and Investment Principal/Equity Analyst at Cambiar Investors from 1997-2016. Ms. Mendelsberg received a B.A. in Economics and Classics from Brown University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 17.59 | 5.77 | 2.41 |
