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Empower Short Duration Bond Fund
mutual fund
MXSDX
Payout Change
Pending
Price as of:
$10.03
+0.01
+0.1%
primary theme
U.S. Short-Term Bond Duration
share class
MXSDX (Mutual Fund)
Empower Short Duration Bond Fund
Payout Change
Pending
Price as of:
$10.03
+0.01
+0.1%
primary theme
U.S. Short-Term Bond Duration
share class
MXSDX (Mutual Fund)
Empower Short Duration Bond Fund
Payout Change
Pending
Price as of:
$10.03
+0.01
+0.1%
primary theme
U.S. Short-Term Bond Duration
share class
Name
As of 09/29/2023Price
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
2.0%
1 yr return
3.5%
3 Yr Avg Return
-0.5%
5 Yr Avg Return
1.5%
Net Assets
$343 M
Holdings in Top 10
12.2%
52 WEEK LOW AND HIGH
$10.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 123.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/29/2023Price
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
MXSDX - Profile
Distributions
- YTD Total Return 2.0%
- 3 Yr Annualized Total Return -0.5%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency None
- Net Income Ratio 1.06%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameEmpower Short Duration Bond Fund
-
Fund Family NameGreat-West Funds
-
Inception DateOct 24, 2012
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJack Brown
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 investment grade bonds. The Fund selects securities based on relative value, maturity, quality and sector and will maintain an actively managed portfolio of bonds selected from several categories, including U.S. Treasuries and agency securities, commercial and residential mortgage-backed securities, asset-backed securities and corporate bonds.The Fund may also invest up to 20% of its net assets in below investment grade securities (commonly known as “high yield securities” or “junk bonds”) and bank loans. Additionally, the Fund will maintain a dollar weighted average duration between one and three years based on the portfolio managers’ forecast for interest rates. “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 on U.S. Treasury securities.The Fund’s investment portfolio is managed by Empower Capital Management, LLC (“ECM”), the Fund’s investment adviser. In constructing the Fund’s portfolio, ECM combines a “top-down” or macroeconomic analysis of the fixed income markets together with “bottom-up” security-by-security fundamental research to identify relative value opportunities.
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MXSDX - Performance
Return Ranking - Trailing
| Period | MXSDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.0% | -6.3% | 3.5% | 60.14% |
| 1 Yr | 3.5% | -11.5% | 0.9% | 49.64% |
| 3 Yr | -0.5%* | -7.0% | 1.3% | 43.94% |
| 5 Yr | 1.5%* | -4.3% | 1.2% | 32.44% |
| 10 Yr | 0.7%* | -20.8% | 0.3% | 77.54% |
* Annualized
Return Ranking - Calendar
| Period | MXSDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -5.7% | -17.7% | -2.6% | 21.38% |
| 2021 | -1.9% | -4.0% | 4.4% | 67.98% |
| 2020 | 2.4% | -8.3% | 7.6% | 32.82% |
| 2019 | 3.2% | -2.3% | 9.3% | 15.64% |
| 2018 | -1.2% | -4.8% | 1.0% | 43.01% |
Total Return Ranking - Trailing
| Period | MXSDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.0% | -4.5% | 6.2% | 60.14% |
| 1 Yr | 3.5% | -8.8% | 3.9% | 49.64% |
| 3 Yr | -0.5%* | -4.5% | 5.2% | 43.94% |
| 5 Yr | 1.5%* | -1.1% | 3.7% | 32.44% |
| 10 Yr | 0.7%* | -19.0% | 24.9% | 77.54% |
* Annualized
Total Return Ranking - Calendar
| Period | MXSDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -4.2% | -13.3% | -1.3% | 36.59% |
| 2021 | 0.0% | -2.7% | 7.7% | 53.75% |
| 2020 | 4.6% | -4.4% | 14.5% | 39.54% |
| 2019 | 5.4% | 0.6% | 12.6% | 28.51% |
| 2018 | 0.7% | -2.6% | 6.4% | 57.85% |
NAV & Total Return History
MXSDX - Holdings
Concentration Analysis
| MXSDX | Category Low | Category High | MXSDX % Rank | |
|---|---|---|---|---|
| Net Assets | 343 M | 1.37 M | 103 B | 73.29% |
| Number of Holdings | 216 | 4 | 4919 | 73.81% |
| Net Assets in Top 10 | 41 M | -23.9 M | 9.45 B | 81.20% |
| Weighting of Top 10 | 12.18% | 1.7% | 100.0% | 81.51% |
Top 10 Holdings
- T 0.5 02/28/26 2.18%
- T 0.75 04/30/26 1.47%
- BAC V3.458 03/15/25 MTN 1.46%
- CITIGROUP INCSR UNSECURED 1.18%
- JPM V2.595 02/24/26 1.13%
- VOYA 2016-1A BR 1.06%
- WBD 3.788 03/15/25 1.00%
- EPR 4.5 04/01/25 0.96%
- CORPORATE TERM LOAN 0.88%
- BABSN 2018-3A C 0.87%
Asset Allocation
| Weighting | Return Low | Return High | MXSDX % Rank | |
|---|---|---|---|---|
| Bonds | 88.73% | 49.71% | 194.71% | 48.15% |
| Other | 12.50% | -2.59% | 10.19% | 34.80% |
| Convertible Bonds | 6.28% | 0.00% | 27.71% | 8.27% |
| Stocks | 0.00% | -0.66% | 11.31% | 90.69% |
| Preferred Stocks | 0.00% | 0.00% | 25.64% | 89.46% |
| Cash | 0.00% | -102.46% | 39.20% | 98.77% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MXSDX % Rank | |
|---|---|---|---|---|
| Corporate | 82.07% | 0.00% | 100.00% | 5.81% |
| Securitized | 15.50% | 0.00% | 97.27% | 77.64% |
| Government | 1.59% | 0.00% | 73.63% | 88.20% |
| Cash & Equivalents | 0.00% | 0.00% | 44.09% | 96.13% |
| Municipal | 0.00% | 0.00% | 17.46% | 95.42% |
| Derivative | -0.18% | 0.00% | 45.97% | 76.45% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MXSDX % Rank | |
|---|---|---|---|---|
| US | 88.73% | 0.00% | 165.96% | 42.36% |
| Non US | 0.00% | 0.00% | 72.71% | 88.22% |
MXSDX - Expenses
Operational Fees
| MXSDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.68% | 0.01% | 19.98% | 51.42% |
| Management Fee | 0.23% | 0.00% | 1.19% | 23.37% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 15.88% |
| Administrative Fee | N/A | 0.01% | 0.50% | 99.71% |
Sales Fees
| MXSDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
| MXSDX 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.
| MXSDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 123.00% | 2.00% | 500.00% | 72.27% |
MXSDX - Distributions
Dividend Yield Analysis
| MXSDX | Category Low | Category High | MXSDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.67% | 0.00% | 10.77% | 99.82% |
Dividend Distribution Analysis
| MXSDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| MXSDX | Category Low | Category High | MXSDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.06% | -1.27% | 4.98% | 57.37% |
Capital Gain Distribution Analysis
| MXSDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | None | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 28, 2022 | $0.046 | OrdinaryDividend |
| Jun 24, 2022 | $0.040 | OrdinaryDividend |
| Mar 28, 2022 | $0.026 | OrdinaryDividend |
| Sep 27, 2021 | $0.021 | OrdinaryDividend |
| Jun 24, 2021 | $0.031 | OrdinaryDividend |
| Mar 25, 2021 | $0.029 | OrdinaryDividend |
| Sep 28, 2020 | $0.035 | OrdinaryDividend |
| Jun 25, 2020 | $0.034 | OrdinaryDividend |
| Mar 26, 2020 | $0.059 | OrdinaryDividend |
| Dec 30, 2019 | $0.033 | OrdinaryDividend |
| Sep 26, 2019 | $0.061 | OrdinaryDividend |
| Jun 25, 2019 | $0.067 | OrdinaryDividend |
| Mar 26, 2019 | $0.056 | OrdinaryDividend |
| Dec 28, 2018 | $0.052 | OrdinaryDividend |
| Sep 24, 2018 | $0.039 | OrdinaryDividend |
| Jun 25, 2018 | $0.056 | OrdinaryDividend |
| Mar 26, 2018 | $0.047 | OrdinaryDividend |
| Dec 28, 2017 | $0.022 | OrdinaryDividend |
MXSDX - Fund Manager Analysis
Managers
Jack Brown
Start Date
Tenure
Tenure Rank
Apr 29, 2016
6.09
6.1%
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.
Maria Mendelsberg
Start Date
Tenure
Tenure Rank
May 07, 2020
2.07
2.1%
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 |
|---|---|---|---|
| 0.07 | 28.77 | 6.07 | 2.41 |
