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Trending ETFs

Name

As of 03/27/2024

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

$9.68

$431 M

4.35%

$0.42

0.66%

Vitals

YTD Return

1.4%

1 yr return

11.6%

3 Yr Avg Return

1.2%

5 Yr Avg Return

4.4%

Net Assets

$431 M

Holdings in Top 10

15.4%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.66%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 58.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$9.68

$431 M

4.35%

$0.42

0.66%

MXFRX - Profile

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return 1.2%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.94%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Empower High Yield 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
    Norman Boucher

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 below investment grade securities (commonly known as “high yield securities” or “junk bonds”). Below investment grade securities are those rated Ba1 or lower by Moody’s Investors Service, Inc. (“Moody's”) or BB+ or lower by Standard & Poor’s Global Ratings (“S&P”) or are of a comparable quality if unrated and no more than 35% of the Fund’s total assets may be invested in securities that have below a B3/B- rating. The Fund will invest primarily in fixed or floating rate income securities, such as corporate bonds, convertible securities, bank loans (term and revolving), zero coupon bonds and Rule 144A fixed income securities that are subject to resale restrictions. The Fund invests primarily in securities that have intermediate to long-term maturities (three years or longer).Up to 20% of the total assets of the Fund may be invested in non-corporate fixed income securities. The Fund may invest in foreign securities and up to 20% of its total assets may be invested in securities not denominated in U.S. dollars. The Fund may invest in derivatives, including but not limited to forward currency contracts, futures and options on securities, securities indices or currencies, options on these futures, credit default swaps and credit default swap indices, and interest rate or currency 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-adviser and monitors its performance on an ongoing basis. The Fund’s investment portfolio is managed by Putnam Investment Management, LLC (the “Sub-Adviser” or “Putnam”). Putnam’s investment approach combines a top-down, macroeconomic overview with strong fundamental credit research, which provides sector-specific coverage across the full credit rating spectrum (AAA to distressed) and capital structure (loans to equity). Putnam integrates environmental, social, and governance (“ESG”) considerations into its fundamental research process and investment decision-making when the portfolio managers consider them material and relevant. However, ESG considerations do not represent a primary focus of Putnam's investment process.
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MXFRX - Performance

Return Ranking - Trailing

Period MXFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.9% 8.2% 57.88%
1 Yr 11.6% -4.3% 26.0% 54.15%
3 Yr 1.2%* -15.6% 20.6% 66.99%
5 Yr 4.4%* -11.2% 37.3% 17.96%
10 Yr N/A* -4.7% 19.5% 15.58%

* Annualized

Return Ranking - Calendar

Period MXFRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -4.7% 14.3% 18.48%
2022 -14.1% -33.4% 3.6% 27.74%
2021 1.8% -8.4% 14.9% 12.23%
2020 7.5% -13.9% 302.7% 2.69%
2019 9.4% -4.4% 13.3% 15.34%

Total Return Ranking - Trailing

Period MXFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -4.9% 8.2% 57.88%
1 Yr 11.6% -4.3% 26.0% 54.15%
3 Yr 1.2%* -15.6% 20.6% 66.99%
5 Yr 4.4%* -11.2% 37.3% 17.96%
10 Yr N/A* -4.7% 19.5% 15.10%

* Annualized

Total Return Ranking - Calendar

Period MXFRX Return Category Return Low Category Return High Rank in Category (%)
2023 11.5% -4.7% 18.7% 64.60%
2022 -11.7% -33.4% 47.8% 72.10%
2021 4.0% -8.4% 24.8% 72.59%
2020 11.3% -9.6% 325.6% 2.69%
2019 14.7% -3.8% 21.5% 29.48%

NAV & Total Return History


MXFRX - Holdings

Concentration Analysis

MXFRX Category Low Category High MXFRX % Rank
Net Assets 431 M 1.85 M 22.6 B 62.52%
Number of Holdings 519 2 2736 29.48%
Net Assets in Top 10 65.4 M -492 M 4.45 B 55.86%
Weighting of Top 10 15.39% 4.2% 149.6% 39.20%

Top 10 Holdings

  1. BOFA SECURITIES INC. SLRPD 5.350% 01/02/2024 2.80%
  2. RBC DOMINION SECURITIES INC. SLRPD 5.340% 01/02/2024 2.80%
  3. CITIGROUP GLOBAL MARKETS INC. SLRPD 5.340% 01/02/2024 2.80%
  4. Bank of Montreal SLRPD 5.340% 01/02/2024 2.00%
  5. CSCHLD 5.375 02/01/28 144A 1.04%
  6. F 4 11/13/30 0.87%
  7. STATE STREET BANK 0.83%
  8. TD SECURITIES (USA) LLC SLRPD 5.350% 01/02/2024 0.80%
  9. CHTR 5.375 06/01/29 144A 0.73%
  10. ENDENR 5.75 01/30/28 144A 0.72%

Asset Allocation

Weighting Return Low Return High MXFRX % Rank
Bonds
91.07% -3.13% 154.38% 78.49%
Convertible Bonds
15.84% 0.00% 17.89% 0.62%
Other
12.49% -63.70% 102.57% 2.31%
Preferred Stocks
1.45% 0.00% 8.06% 6.17%
Stocks
0.72% 0.00% 99.61% 40.71%
Cash
0.00% -52.00% 49.49% 96.14%

Stock Sector Breakdown

Weighting Return Low Return High MXFRX % Rank
Utilities
53.60% 0.00% 100.00% 3.63%
Technology
11.62% 0.00% 33.17% 7.82%
Industrials
9.76% 0.00% 93.12% 8.94%
Energy
9.09% 0.00% 100.00% 59.50%
Healthcare
5.51% 0.00% 22.17% 6.15%
Consumer Cyclical
5.32% 0.00% 100.00% 24.30%
Communication Services
5.10% 0.00% 99.99% 40.22%
Real Estate
0.00% 0.00% 86.71% 19.55%
Financial Services
0.00% 0.00% 100.00% 27.09%
Consumer Defense
0.00% 0.00% 100.00% 20.11%
Basic Materials
0.00% 0.00% 100.00% 28.77%

Stock Geographic Breakdown

Weighting Return Low Return High MXFRX % Rank
US
0.65% 0.00% 99.61% 42.13%
Non US
0.07% -0.01% 0.83% 5.86%

Bond Sector Breakdown

Weighting Return Low Return High MXFRX % Rank
Corporate
100.00% 0.00% 129.69% 0.31%
Derivative
1.27% -15.04% 42.26% 4.17%
Cash & Equivalents
0.00% 0.00% 49.49% 89.35%
Securitized
0.00% 0.00% 97.24% 45.75%
Municipal
0.00% 0.00% 4.66% 7.88%
Government
0.00% 0.00% 99.07% 33.38%

Bond Geographic Breakdown

Weighting Return Low Return High MXFRX % Rank
US
89.83% -3.13% 129.21% 68.21%
Non US
1.24% 0.00% 97.33% 32.56%

MXFRX - Expenses

Operational Fees

MXFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.04% 31.61% 80.56%
Management Fee 0.60% 0.00% 1.84% 60.46%
12b-1 Fee 0.00% 0.00% 1.00% 0.31%
Administrative Fee N/A 0.00% 0.50% 0.86%

Sales Fees

MXFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MXFRX 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.

MXFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 58.00% 1.00% 255.00% 38.54%

MXFRX - Distributions

Dividend Yield Analysis

MXFRX Category Low Category High MXFRX % Rank
Dividend Yield 4.35% 0.00% 35.52% 82.82%

Dividend Distribution Analysis

MXFRX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual SemiAnnual Monthly Monthly

Net Income Ratio Analysis

MXFRX Category Low Category High MXFRX % Rank
Net Income Ratio 2.94% -2.39% 14.30% 94.19%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MXFRX - Fund Manager Analysis

Managers

Norman Boucher


Start Date

Tenure

Tenure Rank

Aug 03, 2009

12.83

12.8%

Norman is responsible for managing the cyclical part of Putnam’s high-yield portfolios. He joined Putnam as an Analyst covering the automotive, aerospace, and technology sectors. He served as a Portfolio Manager on the U.S. High Yield group before moving to Putnam’s London office to manage European high-yield portfolios. He rejoined the U.S. High Yield team in 2005. Norman joined Putnam in 1998 and has been in the investment industry since 1985.

Robert Salvin


Start Date

Tenure

Tenure Rank

Aug 03, 2009

12.83

12.8%

Mr. Salvin is a Portfolio Manager of Putnam's global credit strategies. He is responsible for managing convertible securities, U.S. high-yield, global high-yield, and floating rate loan strategies. Mr. Salvin joined Putnam in 2000 and has been in the investment industry since 1986. Prior to joining Putnam, Mr. Salvin was a Managing Director at BancBoston Robertson Stephens from 1997 to 1999, a Director at SBC Warburg Inc. from 1996 to 1997, an Associate at Chase Securities from 1993 to 1996, and an Analyst at Broadview Associates from 1986 to 1991.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17