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Name

As of 04/23/2024

Price

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

Empower Core Bond Fund

MXIUX | Fund

$8.20

$507 M

13.81%

$1.13

0.40%

Vitals

YTD Return

-2.5%

1 yr return

0.1%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

0.0%

Net Assets

$507 M

Holdings in Top 10

15.1%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 72.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

Price

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

Empower Core Bond Fund

MXIUX | Fund

$8.20

$507 M

13.81%

$1.13

0.40%

MXIUX - Profile

Distributions

  • YTD Total Return -2.5%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.07%
DIVIDENDS
  • Dividend Yield 13.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Empower Core Bond Fund
  • Fund Family Name
    Great-West Funds
  • Inception Date
    May 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Marvan

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 Fund will invest primarily in a diversified portfolio of investment grade securities, including mortgage-backed securities, U.S. government securities, corporate fixed income securities, to-be-announced (“TBA”) securities, when-issued securities, asset-backed securities (including collateralized loan obligations (“CLOs”)) and municipal securities.A portion of the Fund may invest in foreign investment grade fixed income securities, which may be denominated in either foreign currency or in U.S. dollars. The Fund may also invest in domestic or foreign below investment grade securities (commonly known as “high yield securities” or “junk bonds”), and may purchase interests in bank loans.The Fund may invest in derivatives, including but not limited to interest rate, inflation, and total return forward rate agreements; deliverable and non-deliverable bond and currency forward contracts; interest and bond rate futures; interest rate, bond and swap options; credit default swaps and credit default swap indices; and interest rate, inflation, and total return swaps. The Fund may implement short positions and may do so by using swaps, options or futures, TBA agreements in agency mortgage-backed securities, or through short sales of any instrument that the Fund may purchase for investment.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.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: Goldman Sachs Asset Management, L.P. (“GSAM”) and Wellington Management Company LLP (“Wellington”) (each, a “Sub-Adviser,” and collectively, the “Sub-Advisers”).GSAM seeks to provide total return consisting of capital appreciation and income. GSAM employs a fundamental investment process that may integrate environmental, social and governance (“ESG”) factors with traditional fundamental factors. No one factor or consideration is determinative in the fundamental investment process.Wellington seeks to provide long-term total returns in excess of the U.S. bond market as represented by the Bloomberg U.S. Aggregate Bond Index with equivalent or lower levels of risk.ECM maintains a strategic asset 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 GSAM and a 50% allocation of the Fund’s assets to Wellington. Notwithstanding these target allocations, ECM may change the asset allocations at any time and without shareholder notice or approval.
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MXIUX - Performance

Return Ranking - Trailing

Period MXIUX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -12.5% 2.8% 52.54%
1 Yr 0.1% -10.5% 10.2% 39.92%
3 Yr -3.6%* -11.1% 24.6% 50.16%
5 Yr 0.0%* -7.0% 190.6% 56.31%
10 Yr N/A* -2.6% 73.3% 49.08%

* Annualized

Return Ranking - Calendar

Period MXIUX Return Category Return Low Category Return High Rank in Category (%)
2023 0.4% -16.2% 8.1% 93.21%
2022 -16.3% -34.7% 131.9% 58.57%
2021 -4.8% -11.6% 4.4% 90.95%
2020 4.7% -10.1% 946.1% 39.87%
2019 6.2% -1.7% 16.9% 27.21%

Total Return Ranking - Trailing

Period MXIUX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -12.5% 2.8% 52.54%
1 Yr 0.1% -10.5% 10.2% 39.92%
3 Yr -3.6%* -11.1% 24.6% 50.16%
5 Yr 0.0%* -7.0% 190.6% 56.31%
10 Yr N/A* -2.6% 73.3% 46.20%

* Annualized

Total Return Ranking - Calendar

Period MXIUX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -11.3% 11.0% 28.47%
2022 -14.4% -32.2% 131.9% 75.61%
2021 -1.2% -9.4% 9.2% 58.47%
2020 7.6% -1.9% 1009.0% 68.17%
2019 9.4% 1.1% 21668.0% 34.44%

NAV & Total Return History

MXIUX - Holdings

Concentration Analysis

MXIUX Category Low Category High MXIUX % Rank
Net Assets 507 M 2.9 M 314 B 65.26%
Number of Holdings 1313 1 17889 31.76%
Net Assets in Top 10 74.3 M -106 M 36.5 B 73.87%
Weighting of Top 10 15.09% 4.4% 134.1% 80.06%

Top 10 Holdings

  1. FNMA-30YR 2.23%
  2. B 0 01/11/24 1.93%
  3. G2-30YR-Multi 1.87%
  4. FNMA-30YR 1.77%
  5. G2-30YR-Multi 1.31%
  6. T 2.875 05/15/32 1.22%
  7. T 1.375 08/31/26 1.21%
  8. B 0 02/29/24 1.20%
  9. B 0 02/20/24 1.18%
  10. T 4.75 02/15/41 1.18%

Asset Allocation

Weighting Return Low Return High MXIUX % Rank
Bonds 		98.80% 0.00% 215.98% 26.67%
Other 		17.18% -13.23% 50.66% 9.07%
Convertible Bonds 		1.41% 0.00% 7.93% 50.55%
Stocks 		0.02% 0.00% 99.93% 28.15%
Preferred Stocks 		0.00% 0.00% 74.68% 52.37%
Cash 		0.00% -54.51% 79.52% 94.97%

Stock Sector Breakdown

Weighting Return Low Return High MXIUX % Rank
Utilities 		0.00% 0.00% 100.00% 50.25%
Technology 		0.00% 0.00% 43.45% 1.00%
Real Estate 		0.00% 0.00% 99.26% 42.79%
Industrials 		0.00% 0.00% 48.31% 58.71%
Healthcare 		0.00% 0.00% 17.70% 46.77%
Financial Services 		0.00% 0.00% 100.00% 53.23%
Energy 		0.00% 0.00% 100.00% 65.17%
Communication Services 		0.00% 0.00% 100.00% 52.24%
Consumer Defense 		0.00% 0.00% 99.67% 46.27%
Consumer Cyclical 		0.00% 0.00% 100.00% 55.72%
Basic Materials 		0.00% 0.00% 100.00% 46.77%

Stock Geographic Breakdown

Weighting Return Low Return High MXIUX % Rank
US 		0.02% 0.00% 99.93% 27.42%
Non US 		0.00% 0.00% 86.52% 34.71%

Bond Sector Breakdown

Weighting Return Low Return High MXIUX % Rank
Securitized 		39.70% 0.00% 98.40% 23.73%
Government 		31.42% 0.00% 86.23% 35.15%
Corporate 		27.37% 0.00% 100.00% 59.48%
Municipal 		1.41% 0.00% 100.00% 20.16%
Derivative 		0.94% -3.37% 50.66% 12.23%
Cash & Equivalents 		0.00% 0.00% 76.23% 94.87%

Bond Geographic Breakdown

Weighting Return Low Return High MXIUX % Rank
US 		98.80% 0.00% 215.98% 24.36%
Non US 		0.00% 0.00% 39.04% 59.07%

MXIUX - Expenses

Operational Fees

MXIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.01% 39.10% 83.60%
Management Fee 0.32% 0.00% 1.76% 36.85%
12b-1 Fee 0.00% 0.00% 1.00% 4.54%
Administrative Fee N/A 0.01% 0.50% 0.22%

Sales Fees

MXIUX 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% 5.00% N/A

Trading Fees

MXIUX 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.

MXIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 72.00% 2.00% 493.39% 30.24%

MXIUX - Distributions

Dividend Yield Analysis

MXIUX Category Low Category High MXIUX % Rank
Dividend Yield 13.81% 0.00% 10.26% 5.41%

Dividend Distribution Analysis

MXIUX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Net Income Ratio Analysis

MXIUX Category Low Category High MXIUX % Rank
Net Income Ratio 1.07% -1.28% 4.79% 85.79%

Capital Gain Distribution Analysis

MXIUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

MXIUX - Fund Manager Analysis

Managers

Joseph Marvan

Start Date

Tenure

Tenure Rank

Apr 10, 2017

5.14

5.1%

Joseph F. Marvan, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management, has served as a portfolio manager of the Fund since 2012. Mr. Marvan joined Wellington Management as an investment professional in 2003. Joe is a fixed income portfolio manager and serves as chair of the US Broad Market Team. As chair, Joe is responsible for setting aggregate risk levels and investment strategy in Core Bond Plus, Core Bond, Intermediate Bond, and Long Bond portfolios. Prior to joining Wellington Management, Joe was a senior portfolio manager and head of US Fixed Income at State Street Global Advisors, working on a wide range of fixed income portfolios, including those concentrating on total return, mortgage-backed securities, non-dollar bonds, and investment grade credit (1996 – 2003). Prior to that, he worked at both The Boston Company and Shearson Lehman Brothers in Fixed Income Portfolio Management and Trading (1988 – 1996). Joe earned his MBA, magna cum laude, from Babson College (Olin, 2001) and his BS in finance from Ithaca College (1987). Additionally, Joe holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Campe Goodman

Start Date

Tenure

Tenure Rank

Apr 10, 2017

5.14

5.1%

Campe Goodman, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management. Campe is a fixed income portfolio manager on the US Broad Market Team. Prior to joining Wellington Management in 2000, Campe spent four years at the Massachusetts Institute of Technology studying macroeconomics and finance in a doctoral program in economics. He received his AB in mathematics, magna cum laude, from Harvard College (1995). In addition, Campe holds the Chartered Financial Analyst designation.

Robert Burn

Start Date

Tenure

Tenure Rank

Apr 10, 2017

5.14

5.1%

Robert D. Burn, CFA, Managing Director and Fixed Income Portfolio Manager of Wellington Management, has been involved in portfolio management for the Fund since 2016 and has been involved in securities analysis for the Fund since 2012. Mr. Burn joined Wellington Management as an investment professional in 2007.

Paul Seary

Start Date

Tenure

Tenure Rank

Jul 09, 2021

0.89

0.9%

Paul Seary, CFA, Vice President, joined Goldman Sachs Asset Management in 2009 and is a Portfolio Manager focused on fixed income strategies. Mr. Seary is responsible for risk budgeting and portfolio construction focusing on multi-sector fixed income mandates. Prior to joining GSAM, Mr. Seary spent three years with HSBC Halbis, where he was a product specialist within their fixed income alternatives team focusing on Fixed Income Global Macro, Emerging Markets Relative Value and Long/Short Credit strategies. Prior to HSBC Halbis, Mr. Seary worked for five years at Franklin Templeton within their fixed income quantitative research and product management teams. Paul received a Bachelor's of Science in Financial Economics from Binghamton University. Mr. Seary is a CFA charterholder and is a member of the New York Society of Security Analysts.

Ron Arons

Start Date

Tenure

Tenure Rank

Jul 09, 2021

0.89

0.9%

Ron is a portfolio manager in Goldman Sachs Asset Management (GSAM), responsible for core, long duration and other multi-sector fixed income strategies. He joined Goldman Sachs as a managing director in 2010. Prior to joining the firm, Ron worked for 16 years at J.P. Morgan Asset Management, where he was a managing director responsible for the management and distribution of a broad range of fixed income products. Before that, he worked at MetLife for seven years as a trader and portfolio manager. Ron earned a BBA in Accounting from The George Washington University and an MBA from the Stern School of Business at New York University. He is a CFA charterholder.

Ashish Shah

Start Date

Tenure

Tenure Rank

Jan 07, 2022

0.39

0.4%

Mr. Shah is Co-Chief Investment Officer of Global Fixed Income, Global Head of Corporate Credit and Head of the Cross-Sector Strategy within Fixed Income. Mr. Shah joined Goldman Sachs Asset Management, L.P. in 2018. Mr. Shah was previously at AllianceBernstein from 2010 to 2018, where he was most recently the Head of Fixed Income and Chief Investment Officer of Global Credit. Prior to AB, he was a managing director and head of Global Credit Strategy at Barclays Capital (2008-2010). From 2003 to 2008, Shah was the head of Credit Strategy at Lehman Brothers.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.81 1.16

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