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Empower Multi-Sector Bond Fund
mutual fund
MXLMX
Payout Change
Pending
Price as of:
$13.48
-0.06
-0.44%
primary theme
Bond Sector Diversified
share class
MXLMX (Mutual Fund)
Empower Multi-Sector Bond Fund
Payout Change
Pending
Price as of:
$13.48
-0.06
-0.44%
primary theme
Bond Sector Diversified
share class
MXLMX (Mutual Fund)
Empower Multi-Sector Bond Fund
Payout Change
Pending
Price as of:
$13.48
-0.06
-0.44%
primary theme
Bond Sector Diversified
share class
Name
As of 10/04/2024Price
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
5.6%
1 yr return
14.2%
3 Yr Avg Return
0.4%
5 Yr Avg Return
2.5%
Net Assets
$919 M
Holdings in Top 10
9.1%
52 WEEK LOW AND HIGH
$13.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.97%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 67.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
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
MXLMX - Profile
Distributions
- YTD Total Return 5.6%
- 3 Yr Annualized Total Return 0.4%
- 5 Yr Annualized Total Return 2.5%
- Capital Gain Distribution Frequency None
- Net Income Ratio 2.83%
- Dividend Yield 0.1%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameEmpower Multi-Sector Bond Fund
-
Fund Family NameGreat-West Funds
-
Inception DateOct 24, 2012
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Eagan
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 any borrowings for investment purposes) in fixed income securities. The fixed income securities in which the Fund invests may include corporate bonds, asset-backed securities, mortgage-backed securities, bank loans and U.S. government securities.Up to 65% of the Fund’s total assets may be invested in securities of below investment grade securities (commonly known as “high yield securities” or “junk bonds”). Up to 50% of its total assets may be invested in foreign securities, including securities in emerging markets, and the Fund may invest without limitation in obligations of supranational entities (e.g., the World Bank).The Fund may invest in securities of any maturity and of any duration. “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price will be to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a three-year effective duration will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price. The Fund may also invest in derivatives, including but not limited to futures contracts and credit default swaps.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 Virtus Fixed Income Advisers, LLC (“VFIA”) (each, a “Sub-Adviser,” and collectively, the “Sub-Advisers”).•Loomis Sayles invests in fixed income securities that are attractively valued, based on the credit outlook of an issuer and maximum total return potential.•VFIA invests in a diversified portfolio of bonds using a sector rotation approach it believes offers the best potential for total return based on risk-reward tradeoff.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 percentage is a 50% allocation of the Fund’s assets to Loomis Sayles and a 50% allocation of the Fund’s assets to VFIA. 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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MXLMX - Performance
Return Ranking - Trailing
| Period | MXLMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.6% | -8.0% | 14.8% | 63.09% |
| 1 Yr | 14.2% | -6.3% | 30.2% | 27.41% |
| 3 Yr | 0.4%* | -16.6% | 16.8% | 74.69% |
| 5 Yr | 2.5%* | -14.0% | 14.3% | 51.81% |
| 10 Yr | 1.4%* | -6.9% | 6.8% | 84.40% |
* Annualized
Return Ranking - Calendar
| Period | MXLMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.5% | -12.0% | 15.7% | 15.90% |
| 2022 | -13.6% | -31.8% | 18.4% | 57.84% |
| 2021 | -2.9% | -16.2% | 25.7% | 72.61% |
| 2020 | 5.2% | -31.1% | 18.7% | 16.02% |
| 2019 | 9.7% | -6.1% | 15.3% | 3.04% |
Total Return Ranking - Trailing
| Period | MXLMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.6% | -8.0% | 14.8% | 63.09% |
| 1 Yr | 14.2% | -6.3% | 30.2% | 27.41% |
| 3 Yr | 0.4%* | -16.6% | 16.8% | 74.69% |
| 5 Yr | 2.5%* | -14.0% | 14.3% | 51.81% |
| 10 Yr | 1.4%* | -6.9% | 6.8% | 84.40% |
* Annualized
Total Return Ranking - Calendar
| Period | MXLMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.9% | -6.9% | 22.2% | 51.38% |
| 2022 | -11.4% | -31.8% | 21.1% | 68.81% |
| 2021 | 0.9% | -13.5% | 49.9% | 67.59% |
| 2020 | 9.1% | -28.6% | 24.1% | 12.85% |
| 2019 | 11.6% | -4.8% | 19.1% | 19.77% |
NAV & Total Return History
MXLMX - Holdings
Concentration Analysis
| MXLMX | Category Low | Category High | MXLMX % Rank | |
|---|---|---|---|---|
| Net Assets | 919 M | 2.53 M | 143 B | 43.31% |
| Number of Holdings | 1515 | 4 | 9195 | 13.27% |
| Net Assets in Top 10 | 86.2 M | -204 M | 80.4 B | 65.12% |
| Weighting of Top 10 | 9.07% | 6.2% | 209.5% | 92.38% |
Top 10 Holdings
- T 4.625 02/28/26 3.85%
- T 4.25 02/15/54 1.33%
- DREYFUS INSTL PREFER GOVT-IS #6546 1.16%
- T 5 08/31/25 0.53%
- GLENLN 6.5 10/06/33 144A 0.42%
- RKTRM 2.875 10/15/26 144A 0.38%
- UBER 4.5 08/15/29 144A 0.36%
- CLR 5.75 01/15/31 144A 0.36%
- MU 5.875 09/15/33 0.35%
- UKT 0.25 01/31/25 0.34%
Asset Allocation
| Weighting | Return Low | Return High | MXLMX % Rank | |
|---|---|---|---|---|
| Bonds | 75.17% | 0.00% | 192.97% | 72.84% |
| Other | 23.22% | -73.61% | 112.16% | 9.72% |
| Convertible Bonds | 3.97% | 0.00% | 33.50% | 23.61% |
| Cash | 1.16% | -94.66% | 91.07% | 72.69% |
| Stocks | 0.43% | -4.92% | 99.66% | 48.61% |
| Preferred Stocks | 0.11% | 0.00% | 26.42% | 30.40% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MXLMX % Rank | |
|---|---|---|---|---|
| Communication Services | 43.59% | 0.00% | 100.00% | 1.14% |
| Basic Materials | 11.88% | 0.00% | 100.00% | 9.40% |
| Healthcare | 9.62% | 0.00% | 18.60% | 10.83% |
| Technology | 8.57% | 0.00% | 28.30% | 22.79% |
| Industrials | 8.38% | 0.00% | 100.00% | 25.36% |
| Consumer Defense | 4.83% | 0.00% | 99.97% | 21.08% |
| Utilities | 3.22% | 0.00% | 100.00% | 25.07% |
| Financial Services | 2.90% | 0.00% | 100.00% | 51.00% |
| Energy | 2.71% | 0.00% | 100.00% | 63.53% |
| Consumer Cyclical | 2.70% | 0.00% | 89.95% | 30.77% |
| Real Estate | 1.61% | 0.00% | 100.00% | 39.03% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MXLMX % Rank | |
|---|---|---|---|---|
| US | 0.43% | -4.84% | 99.66% | 46.60% |
| Non US | 0.00% | -0.26% | 17.73% | 22.22% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MXLMX % Rank | |
|---|---|---|---|---|
| Corporate | 63.96% | 0.00% | 96.66% | 17.83% |
| Securitized | 22.20% | 0.00% | 99.65% | 38.69% |
| Government | 13.09% | 0.00% | 99.43% | 44.90% |
| Cash & Equivalents | 1.16% | 0.00% | 88.00% | 69.50% |
| Municipal | 0.65% | 0.00% | 54.26% | 16.72% |
| Derivative | 0.09% | -73.61% | 112.16% | 43.50% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MXLMX % Rank | |
|---|---|---|---|---|
| US | 73.13% | 0.00% | 192.97% | 58.95% |
| Non US | 2.04% | 0.00% | 74.14% | 52.16% |
MXLMX - Expenses
Operational Fees
| MXLMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.97% | 0.03% | 20.67% | 63.23% |
| Management Fee | 0.52% | 0.00% | 2.29% | 28.33% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 0.29% |
| Administrative Fee | N/A | 0.00% | 0.70% | 94.30% |
Sales Fees
| MXLMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| MXLMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| MXLMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 67.00% | 0.00% | 632.00% | 37.62% |
MXLMX - Distributions
Dividend Yield Analysis
| MXLMX | Category Low | Category High | MXLMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.15% | 0.00% | 23.30% | 85.93% |
Dividend Distribution Analysis
| MXLMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| MXLMX | Category Low | Category High | MXLMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.83% | -1.55% | 11.51% | 52.82% |
Capital Gain Distribution Analysis
| MXLMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | None | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 06, 2024 | $0.010 | OrdinaryDividend |
| Dec 27, 2023 | $0.212 | OrdinaryDividend |
| Sep 06, 2023 | $0.014 | OrdinaryDividend |
| Jun 27, 2023 | $0.178 | OrdinaryDividend |
| Dec 28, 2022 | $0.160 | OrdinaryDividend |
| Sep 06, 2022 | $0.003 | OrdinaryDividend |
| Sep 06, 2022 | $0.015 | CapitalGainLongTerm |
| Jun 23, 2022 | $0.138 | OrdinaryDividend |
| Dec 29, 2021 | $0.170 | OrdinaryDividend |
| Dec 29, 2021 | $0.183 | CapitalGainLongTerm |
| Sep 03, 2021 | $0.035 | OrdinaryDividend |
| Sep 03, 2021 | $0.025 | CapitalGainLongTerm |
| Jun 23, 2021 | $0.136 | OrdinaryDividend |
| Dec 29, 2020 | $0.232 | OrdinaryDividend |
| Dec 29, 2020 | $0.038 | CapitalGainLongTerm |
| Sep 04, 2020 | $0.034 | OrdinaryDividend |
| Sep 04, 2020 | $0.037 | CapitalGainLongTerm |
| Jun 24, 2020 | $0.181 | OrdinaryDividend |
| Dec 27, 2019 | $0.021 | CapitalGainLongTerm |
| Jun 24, 2019 | $0.213 | OrdinaryDividend |
| Dec 27, 2018 | $0.137 | OrdinaryDividend |
| Dec 27, 2018 | $0.066 | CapitalGainLongTerm |
| Sep 07, 2018 | $0.012 | OrdinaryDividend |
| Jun 22, 2018 | $0.172 | OrdinaryDividend |
| Dec 27, 2017 | $0.056 | OrdinaryDividend |
MXLMX - Fund Manager Analysis
Managers
Matthew Eagan
Start Date
Tenure
Tenure Rank
May 01, 2013
9.09
9.1%
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
May 01, 2013
9.09
9.1%
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.
Brian Kennedy
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
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.
Stephen Hooker
Start Date
Tenure
Tenure Rank
Aug 24, 2018
3.77
3.8%
Stephen H. Hooker, CFA is the Director of Foreign Research, sector manager for emerging markets debt and a member of the corporate credit research group at Newfleet (since 2011). He is responsible for the paper and packaging and chemicals industry sectors, and the Eastern Europe, Middle East, and Africa sovereign credit sector. From 2005 until 2011, Mr. Hooker was vice president, senior credit analyst at Aladdin Capital Management and Global Plus Investment Management, respectively, both of which specialize in high yield and structured credit products. Prior to 2005, he was at Goodwin for 12 years, serving in various capacities, including as a senior credit analyst and emerging markets sector manager on its fixed income team. Mr. Hooker earned a B.A. in psychology from Trinity College. He has held the Chartered Financial Analyst designation since 1999. He began his career in the investment industry in 1993.
Benjamin Caron
Start Date
Tenure
Tenure Rank
Aug 24, 2018
3.77
3.8%
Benjamin Caron, CFA, is Senior Managing Director and Portfolio Manager at Newfleet Asset Management, LLC (since June 2011). Prior to June 2011, Mr. Caron was on the fixed income team at Goodwin. Mr. Caron also is a portfolio manager of a closed-end fund managed by Newfleet, in addition to assisting the senior portfolio manager in the management of several open-end funds managed by Newfleet. Mr. Caron joined Goodwin in 2002 as a client service associate for the institutional markets group focusing on institutional fixed income clients.
David Albrycht
Start Date
Tenure
Tenure Rank
Aug 24, 2018
3.77
3.8%
Mr. Albrycht is president and Chief Investment Officer of Newfleet. Prior to joining Newfleet in 2011, Mr. Albrycht was Executive Managing Director and Senior Portfolio Manager with Goodwin Capital Advisers, a former Virtus investment management subsidiary. Mr. Albrycht joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.72 | 3.19 |
