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Empower Real Estate Index Fund
mutual fund
MXREX
Payout Change
Pending
Price as of:
$13.35
-0.16
-1.18%
primary theme
Real Estate Sector Equity
share class
MXREX (Mutual Fund)
Empower Real Estate Index Fund
Payout Change
Pending
Price as of:
$13.35
-0.16
-1.18%
primary theme
Real Estate Sector Equity
share class
MXREX (Mutual Fund)
Empower Real Estate Index Fund
Payout Change
Pending
Price as of:
$13.35
-0.16
-1.18%
primary theme
Real Estate Sector Equity
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
12.0%
1 yr return
19.1%
3 Yr Avg Return
-0.6%
5 Yr Avg Return
3.8%
Net Assets
$776 M
Holdings in Top 10
52.5%
52 WEEK LOW AND HIGH
$13.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 33.00%
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
MXREX - Profile
Distributions
- YTD Total Return 12.0%
- 3 Yr Annualized Total Return -0.6%
- 5 Yr Annualized Total Return 3.8%
- Capital Gain Distribution Frequency None
- Net Income Ratio 1.09%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEmpower Real Estate Index Fund
-
Fund Family NameGreat-West Funds
-
Inception DateNov 27, 2012
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Lynch
Fund Description
Below is a summary of the principal investment strategies of the Fund.The Fund is not actively managed but is designed to track the performance of the Dow Jones U.S. Select REIT Index (the “Benchmark Index”). The Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of the companies included in the Benchmark Index. The Benchmark Index tracks the performance of publicly traded REITs and REIT-like securities.The Fund uses the replication method of indexing, meaning the Fund seeks to own the securities contained in the Benchmark Index in as close as possible a proportion of the Fund as each stock’s weight in the Benchmark Index.The Fund may also invest in derivatives, including but not limited to futures contracts, options on futures contracts, and swaps.The Fund is a “non-diversified” fund, which means it generally invests a greater portion of its assets in the securities of one or more issuers and invests overall in a smaller number of issuers than a diversified fund. As such, the Fund concentrates its assets in the real estate industry, including REIT stocks, which may include companies with small and medium size market capitalizations.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-adviser and monitors its performance on an ongoing basis. The Fund’s investment portfolio is managed by Irish Life Investment Managers Limited (the “Sub-Adviser” or “ILIM”).
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MXREX - Performance
Return Ranking - Trailing
| Period | MXREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.0% | -6.4% | 22.4% | 23.11% |
| 1 Yr | 19.1% | -7.5% | 30.3% | 18.91% |
| 3 Yr | -0.6%* | -12.5% | 5.4% | 35.59% |
| 5 Yr | 3.8%* | -12.1% | 14.8% | 67.57% |
| 10 Yr | 2.7%* | -2.0% | 14.2% | 93.75% |
* Annualized
Return Ranking - Calendar
| Period | MXREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.1% | -16.2% | 24.6% | 12.66% |
| 2022 | -29.7% | -51.3% | 2.5% | 37.71% |
| 2021 | 41.4% | -7.7% | 52.3% | 8.51% |
| 2020 | -13.1% | -42.2% | 35.0% | 78.83% |
| 2019 | 17.0% | 0.0% | 43.1% | 58.60% |
Total Return Ranking - Trailing
| Period | MXREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.0% | -6.4% | 22.4% | 23.11% |
| 1 Yr | 19.1% | -7.5% | 30.3% | 18.91% |
| 3 Yr | -0.6%* | -12.5% | 5.4% | 35.59% |
| 5 Yr | 3.8%* | -12.1% | 14.8% | 67.57% |
| 10 Yr | 2.7%* | -2.0% | 14.2% | 93.75% |
* Annualized
Total Return Ranking - Calendar
| Period | MXREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -13.7% | 25.0% | 21.52% |
| 2022 | -26.4% | -40.7% | 7.8% | 57.20% |
| 2021 | 44.3% | 7.8% | 54.6% | 20.85% |
| 2020 | -11.6% | -36.6% | 44.3% | 93.69% |
| 2019 | 22.4% | 4.1% | 46.4% | 85.12% |
NAV & Total Return History
MXREX - Holdings
Concentration Analysis
| MXREX | Category Low | Category High | MXREX % Rank | |
|---|---|---|---|---|
| Net Assets | 776 M | 2.26 M | 61.4 B | 34.20% |
| Number of Holdings | 105 | 22 | 548 | 18.07% |
| Net Assets in Top 10 | 416 M | 1.29 M | 32.8 B | 39.50% |
| Weighting of Top 10 | 52.48% | 13.2% | 82.2% | 66.39% |
Top 10 Holdings
- Prologis Inc. COM USD0.01 10.47%
- Equinix, Inc. COM 7.55%
- Welltower OP LLC COM 6.63%
- Public Storage COM 5.13%
- Realty Income Corporation COM 4.95%
- Simon Property Group Inc COM 4.64%
- Digital Realty Trust Inc. COM 4.46%
- Extra Space Storage Inc. COM USD0.01 3.42%
- AvalonBay Communities, Inc. COM 2.86%
- Ventas Inc. COM 2.37%
Asset Allocation
| Weighting | Return Low | Return High | MXREX % Rank | |
|---|---|---|---|---|
| Stocks | 98.80% | 0.00% | 100.25% | 55.46% |
| Cash | 0.81% | -42.50% | 24.34% | 58.40% |
| Bonds | 0.37% | 0.00% | 149.68% | 12.61% |
| Other | 0.02% | -82.45% | 106.21% | 28.15% |
| Preferred Stocks | 0.00% | 0.00% | 31.13% | 63.45% |
| Convertible Bonds | 0.00% | 0.00% | 10.95% | 58.65% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MXREX % Rank | |
|---|---|---|---|---|
| Real Estate | 100.00% | 34.46% | 100.00% | 22.57% |
| Utilities | 0.00% | 0.00% | 3.55% | 55.31% |
| Technology | 0.00% | 0.00% | 12.02% | 64.60% |
| Industrials | 0.00% | 0.00% | 7.39% | 60.18% |
| Healthcare | 0.00% | 0.00% | 0.53% | 56.64% |
| Financial Services | 0.00% | 0.00% | 37.05% | 61.50% |
| Energy | 0.00% | 0.00% | 33.11% | 57.08% |
| Communication Services | 0.00% | 0.00% | 11.61% | 60.18% |
| Consumer Defense | 0.00% | 0.00% | 0.93% | 55.31% |
| Consumer Cyclical | 0.00% | 0.00% | 45.29% | 74.78% |
| Basic Materials | 0.00% | 0.00% | 13.69% | 57.52% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MXREX % Rank | |
|---|---|---|---|---|
| US | 98.80% | 0.00% | 100.25% | 51.26% |
| Non US | 0.00% | 0.00% | 37.90% | 60.08% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MXREX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 0.60% | 0.00% | 100.00% | 56.17% |
| Derivative | 0.02% | -0.02% | 1.64% | 10.64% |
| Securitized | 0.00% | 0.00% | 96.61% | 83.57% |
| Corporate | 0.00% | 0.00% | 99.81% | 84.97% |
| Municipal | 0.00% | 0.00% | 3.24% | 83.92% |
| Government | 0.00% | 0.00% | 69.19% | 83.22% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MXREX % Rank | |
|---|---|---|---|---|
| US | 0.37% | 0.00% | 135.33% | 12.61% |
| Non US | 0.00% | 0.00% | 14.35% | 57.14% |
MXREX - Expenses
Operational Fees
| MXREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.68% | 0.07% | 8.91% | 82.55% |
| Management Fee | 0.29% | 0.00% | 1.50% | 7.56% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 10.34% |
| Administrative Fee | N/A | 0.01% | 0.45% | 95.95% |
Sales Fees
| MXREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| MXREX 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.
| MXREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 33.00% | 0.11% | 380.00% | 40.09% |
MXREX - Distributions
Dividend Yield Analysis
| MXREX | Category Low | Category High | MXREX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.53% | 0.00% | 13.03% | 79.41% |
Dividend Distribution Analysis
| MXREX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| MXREX | Category Low | Category High | MXREX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.09% | -1.14% | 6.05% | 45.96% |
Capital Gain Distribution Analysis
| MXREX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | None | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 06, 2024 | $0.071 | OrdinaryDividend |
| Sep 06, 2024 | $0.020 | CapitalGainLongTerm |
| Dec 27, 2023 | $0.067 | OrdinaryDividend |
| Dec 27, 2023 | $0.021 | CapitalGainLongTerm |
| Jun 23, 2023 | $0.132 | OrdinaryDividend |
| Dec 28, 2022 | $0.101 | OrdinaryDividend |
| Dec 28, 2022 | $0.291 | CapitalGainLongTerm |
| Sep 06, 2022 | $0.014 | OrdinaryDividend |
| Jun 23, 2022 | $0.100 | OrdinaryDividend |
| Dec 29, 2021 | $0.211 | CapitalGainLongTerm |
| Jun 23, 2021 | $0.085 | OrdinaryDividend |
| Dec 29, 2020 | $0.049 | OrdinaryDividend |
| Sep 04, 2020 | $0.025 | OrdinaryDividend |
| Jun 24, 2020 | $0.098 | OrdinaryDividend |
| Dec 27, 2019 | $0.449 | CapitalGainLongTerm |
| Jun 24, 2019 | $0.115 | OrdinaryDividend |
| Dec 27, 2018 | $0.109 | OrdinaryDividend |
| Dec 27, 2018 | $0.212 | CapitalGainLongTerm |
| Jun 22, 2018 | $0.117 | OrdinaryDividend |
| Dec 27, 2017 | $0.393 | CapitalGainLongTerm |
MXREX - Fund Manager Analysis
Managers
Michael Lynch
Start Date
Tenure
Tenure Rank
Apr 29, 2016
6.09
6.1%
Michael Lynch, CFA is a Senior Fund Manager and has worked on the Indexation Team since 2006. Prior to joining ILIM, he worked for 6 years in Investment Technology Group Europe. He graduated with a degree in Commerce and he also holds a Masters in Economics, both from University College Cork.
Nicola Dowdall
Start Date
Tenure
Tenure Rank
Apr 29, 2016
6.09
6.1%
Nicola Dowdall is a Senior Fund Manager and has worked on the Indexation Team since 2000. Prior to joining the Indexation Team, she worked for two years as an investment accountant with Irish Life Investment Managers Limited. Prior to joining Irish Life Investment Managers Limited, Ms. Dowdall worked as an audit manager in practice. Ms. Dowdall graduated with a degree in Accounting from Dundalk Institution of Technology and is a Chartered Certified Accountant.
Peter Leonard
Start Date
Tenure
Tenure Rank
Apr 29, 2016
6.09
6.1%
Peter Leonard, CFA is a Senior Fund Manager and has worked on the Indexation Team since 2012. Prior to working in Irish Life Investment Managers Limited, Peter worked in the investments industry for 8 years as a private client fund manager and in investment management audit. Mr. Leonard graduated from Trinity College Dublin with a B.A. Business & Economics degree and is a qualified chartered accountant and a Qualified Financial Advisor.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 28.42 | 8.32 | 16.42 |
