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Empower Core Strategies: Flexible Bond Fund
mutual fund
MXEDX
Payout Change
Pending
Price as of:
$10.08
-0.03
-0.3%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MXEDX (Mutual Fund)
Empower Core Strategies: Flexible Bond Fund
Payout Change
Pending
Price as of:
$10.08
-0.03
-0.3%
primary theme
U.S. Intermediate-Term Bond Duration
share class
MXEDX (Mutual Fund)
Empower Core Strategies: Flexible Bond Fund
Payout Change
Pending
Price as of:
$10.08
-0.03
-0.3%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/12/2024Price
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
4.4%
1 yr return
5.2%
3 Yr Avg Return
-0.8%
5 Yr Avg Return
1.0%
Net Assets
$1.25 B
Holdings in Top 10
18.9%
52 WEEK LOW AND HIGH
$10.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.74%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 180.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
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
MXEDX - Profile
Distributions
- YTD Total Return 4.4%
- 3 Yr Annualized Total Return -0.8%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.50%
- Dividend Yield 0.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameEmpower Core Strategies: Flexible Bond Fund
-
Fund Family NameGreat-West Funds
-
Inception DateJun 25, 2018
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Kennedy
Fund Description
Below is a summary of the principal investment strategies of the Fund.The Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in a diversified portfolio of fixed income securities of any maturity and duration. The fixed income securities in which the Fund may invest include corporate bonds, U.S. government securities, mortgage- and asset-backed securities, and bank loans.The Fund primarily invests in investment grade securities but may also invest up to 35% of its total assets in below investment grade securities (commonly known as “high yield securities” or “junk bonds”).The Fund may invest up to 30% of its total assets in foreign fixed income securities, including emerging markets securities, and the Fund may invest without limitation in obligations of supranational entities (e.g., the World Bank). The Fund may enter into forward roll obligations on U.S. government securities, including mortgage dollar rolls and to-be-announced (“TBA”) securities. The Fund may also invest in derivatives, including but not limited to futures contracts on U.S. Treasury securities.Empower Capital Management, LLC (“ECM”) is the Fund’s investment adviser and, subject to the approval of the Board of Directors of Empower Funds (the “Board”), selects the Fund’s sub-advisers and monitors their performance on an ongoing basis. The Fund’s investment portfolio is managed by two sub-advisers: Loomis, Sayles & Company, L.P. (“Loomis Sayles”) and Western Asset Management Company, LLC (“Western Asset”) (each a “Sub-Adviser,” and collectively, the “Sub-Advisers”).•Loomis Sayles invests in fixed income securities that it believes are attractively valued, based on the credit outlook of an issuer and maximum total return potential.•Western Asset emphasizes long-term fundamental value investing that integrates top-down macroeconomic decisions with bottom-up issuer selection.ECM maintains a strategic allocation of the Fund’s assets with each Sub-Adviser and reviews the asset allocations on a quarterly basis, or more frequently as deemed necessary. As of the date of this Prospectus, the target asset allocation is a 50% allocation of the Fund’s assets to Loomis Sayles and a 50% allocation of the Fund’s assets to Western Asset. Actual allocations may vary from the target allocations and ECM may change the asset allocations at any time without shareholder notice or approval.
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MXEDX - Performance
Return Ranking - Trailing
| Period | MXEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.4% | -4.6% | 11.7% | 8.91% |
| 1 Yr | 5.2% | -2.4% | 15.0% | 6.74% |
| 3 Yr | -0.8%* | -10.0% | 28.5% | 8.95% |
| 5 Yr | 1.0%* | -7.2% | 58.8% | 13.38% |
| 10 Yr | N/A* | -2.8% | 74.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MXEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.8% | -16.2% | 8.1% | 17.67% |
| 2022 | -13.8% | -34.7% | 131.9% | 9.79% |
| 2021 | -1.9% | -11.6% | 4.4% | 5.12% |
| 2020 | 9.6% | -9.9% | 946.1% | 6.10% |
| 2019 | 5.0% | -1.7% | 16.9% | 69.99% |
Total Return Ranking - Trailing
| Period | MXEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.4% | -4.6% | 11.7% | 8.91% |
| 1 Yr | 5.2% | -2.4% | 15.0% | 6.74% |
| 3 Yr | -0.8%* | -10.0% | 28.5% | 8.95% |
| 5 Yr | 1.0%* | -7.2% | 58.8% | 13.38% |
| 10 Yr | N/A* | -2.8% | 74.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MXEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.4% | -11.3% | 11.9% | 35.55% |
| 2022 | -12.2% | -32.2% | 131.9% | 13.94% |
| 2021 | -1.4% | -9.4% | 9.2% | 65.74% |
| 2020 | 9.6% | -1.9% | 1009.0% | 23.71% |
| 2019 | 8.1% | 1.1% | 21668.0% | 71.43% |
NAV & Total Return History
MXEDX - Holdings
Concentration Analysis
| MXEDX | Category Low | Category High | MXEDX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.25 B | 2.9 M | 314 B | 53.58% |
| Number of Holdings | 896 | 1 | 17880 | 44.13% |
| Net Assets in Top 10 | 241 M | 1.62 M | 35.1 B | 58.98% |
| Weighting of Top 10 | 18.93% | 4.7% | 3984.6% | 67.88% |
Top 10 Holdings
- T 3.875 08/15/33 4.05%
- T 4.75 11/15/43 3.45%
- RFCSP 0 04/15/30 2.22%
- T 3.75 08/31/26 2.09%
- T 4.625 02/28/26 1.67%
- T 4.375 07/31/26 1.31%
- T 4 11/15/42 1.29%
- T 4 02/15/34 1.04%
- FFCB 4.75 05/02/31 0.91%
- G2 MA8201 0.90%
Asset Allocation
| Weighting | Return Low | Return High | MXEDX % Rank | |
|---|---|---|---|---|
| Bonds | 84.03% | 0.00% | 9231.88% | 86.32% |
| Other | 13.86% | -27.25% | 1695.17% | 14.85% |
| Convertible Bonds | 2.62% | 0.00% | 7.93% | 14.02% |
| Cash | 1.63% | -54.51% | 237.69% | 66.15% |
| Stocks | 0.46% | 0.00% | 99.98% | 12.75% |
| Preferred Stocks | 0.02% | 0.00% | 72.34% | 23.99% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MXEDX % Rank | |
|---|---|---|---|---|
| Communication Services | 38.90% | 0.00% | 100.00% | 3.09% |
| Healthcare | 12.70% | 0.00% | 17.70% | 7.41% |
| Technology | 11.23% | 0.00% | 43.45% | 17.28% |
| Industrials | 11.10% | 0.00% | 48.31% | 12.35% |
| Consumer Defense | 6.37% | 0.00% | 99.67% | 14.20% |
| Utilities | 4.27% | 0.00% | 100.00% | 17.28% |
| Financial Services | 3.87% | 0.00% | 100.00% | 36.42% |
| Energy | 3.57% | 0.00% | 100.00% | 45.68% |
| Consumer Cyclical | 3.56% | 0.00% | 100.00% | 26.54% |
| Basic Materials | 2.30% | 0.00% | 100.00% | 21.60% |
| Real Estate | 2.13% | 0.00% | 99.26% | 22.84% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MXEDX % Rank | |
|---|---|---|---|---|
| US | 0.46% | 0.00% | 99.98% | 12.77% |
| Non US | 0.00% | 0.00% | 88.46% | 51.71% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MXEDX % Rank | |
|---|---|---|---|---|
| Securitized | 31.44% | 0.00% | 98.40% | 44.04% |
| Government | 28.53% | 0.00% | 86.23% | 43.62% |
| Corporate | 27.34% | 0.00% | 100.00% | 59.21% |
| Cash & Equivalents | 0.88% | 0.00% | 237.69% | 71.86% |
| Derivative | 0.03% | -6.56% | 44.82% | 34.48% |
| Municipal | 0.00% | 0.00% | 100.00% | 86.72% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MXEDX % Rank | |
|---|---|---|---|---|
| US | 82.07% | 0.00% | 9042.62% | 86.92% |
| Non US | 1.97% | 0.00% | 189.26% | 20.66% |
MXEDX - Expenses
Operational Fees
| MXEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.74% | 0.01% | 39.64% | 44.83% |
| Management Fee | 0.38% | 0.00% | 1.76% | 54.14% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 6.78% |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| MXEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MXEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
| MXEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 180.00% | 2.00% | 493.39% | 62.38% |
MXEDX - Distributions
Dividend Yield Analysis
| MXEDX | Category Low | Category High | MXEDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 10.11% | 66.11% |
Dividend Distribution Analysis
| MXEDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MXEDX | Category Low | Category High | MXEDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.50% | -1.28% | 4.79% | 64.51% |
Capital Gain Distribution Analysis
| MXEDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 06, 2024 | $0.000 | OrdinaryDividend |
| Jun 25, 2024 | $0.216 | OrdinaryDividend |
| Dec 27, 2023 | $0.206 | OrdinaryDividend |
| Jun 23, 2023 | $0.135 | OrdinaryDividend |
| Dec 28, 2022 | $0.172 | OrdinaryDividend |
| Feb 04, 2022 | $0.005 | OrdinaryDividend |
| Dec 29, 2021 | $0.049 | OrdinaryDividend |
| Apr 28, 2021 | $0.002 | OrdinaryDividend |
| Dec 29, 2020 | $0.001 | CapitalGainLongTerm |
| Dec 27, 2019 | $0.204 | OrdinaryDividend |
| Apr 26, 2019 | $0.101 | OrdinaryDividend |
| Dec 27, 2018 | $0.155 | OrdinaryDividend |
| Dec 27, 2018 | $0.001 | CapitalGainLongTerm |
MXEDX - Fund Manager Analysis
Managers
Brian Kennedy
Start Date
Tenure
Tenure Rank
Jun 25, 2018
3.93
3.9%
Brian Kennedy is a Vice President of Loomis, Sayles & Company and co-portfolio manager of the firm’s multisector institutional strategies and mutual funds. Mr. Kennedy joined Loomis Sayles in 1994 as a securitized and government bond trader. Mr. Kennedy first joined the full discretion investment team as product manager in 2009, was promoted in 2013 to co-portfolio manager of the investment grade bond products and again in 2016 to co-portfolio manager of the multisector suite of products. He earned a BS from Providence College and an MBA from Babson College.
Matthew Eagan
Start Date
Tenure
Tenure Rank
Jun 25, 2018
3.93
3.9%
Matthew J. Eagan is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. Mr. Eagan started his investment career in 1989 and joined Loomis Sayles in 1997. Previously, he worked for Liberty Mutual Insurance Company as a senior fixed-income analyst and for BancBoston Financial Company as a senior credit analyst. Mr. Eagan received his BA from Northeastern University and his MBA from Boston University. He is a CFA® charterholder.
Elaine Stokes
Start Date
Tenure
Tenure Rank
Jun 25, 2018
3.93
3.9%
Elaine M. Stokes is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. She has joined Loomis Sayles in 1988. Prior to becoming a portfolio manager in 2000, she had experience working in high yield, global and emerging markets, serving as a senior fixed-income trader and portfolio specialist. Ms. Stokes is co-head and founder of the Loomis Sayles Women's Network group and is on the executive board for the Strong Women, Strong Girls nonprofit organization. Ms. Stokes earned a BS from St. Michael's College.
Jack Brown
Start Date
Tenure
Tenure Rank
Jun 25, 2018
3.93
3.9%
Jack Brown, CFA, is a Portfolio Manager with GWCM. Mr. Brown joined GWL&A in 2015 with 20 years of industry experience. Prior to joining GWL&A, Mr. Brown was employed at Oppenheimer Funds in the High Yield Bond Market. Mr. Brown received a B.S. in finance from the Metropolitan State College of Denver and an M.B.A. from the University of Colorado.
Darrin Clough
Start Date
Tenure
Tenure Rank
May 07, 2020
2.07
2.1%
Darrin Clough,CFA, has been a Vice President of OppenheimerFunds, Inc since January 2013 and Portfolio Manager of OppenheimerFunds since January 2019. He was a Senior Research Analyst on the Investment Grade Debt Team of the firm from January 2011 until January 2019. Previously, Mr. Clough serves as a research analyst and focuses on research of securitized products. Darrin joined the Money Market group in January 2007 and was primarily responsible for providing research and analysis on short-term corporate and insurance company debt instruments. Darrin has been with the firm since 1998. He has a Bachelor of Science from the University of Northern Colorado and an M.B.A. from the University of Colorado, Denver. He has earned the right to use the Chartered Financial Analyst designation. Darrin covers securitized products.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |
