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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 Global Bond Fund

MXZMX | Fund

$7.46

$542 M

0.00%

0.65%

Vitals

YTD Return

-3.5%

1 yr return

-0.9%

3 Yr Avg Return

-5.4%

5 Yr Avg Return

-2.5%

Net Assets

$542 M

Holdings in Top 10

32.3%

52 WEEK LOW AND HIGH

$7.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 184.00%

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 Global Bond Fund

MXZMX | Fund

$7.46

$542 M

0.00%

0.65%

MXZMX - Profile

Distributions

  • YTD Total Return -3.5%
  • 3 Yr Annualized Total Return -5.4%
  • 5 Yr Annualized Total Return -2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.74%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Empower Global 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
    Brendan Murphy

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 bonds issued by companies, governments and government agencies located around the world. Bonds include fixed income securities of any maturity, such as mortgage-backed securities, U.S. government securities, asset-backed securities, floating rate loans (limited to up to 20% of the Fund’s net assets) and other floating rate securities, Eurodollar and yankee dollar instruments, to-be-announced (“TBA”) securities, notes (including structured notes), bills, and debentures.Under normal circumstances, the Fund will invest at least 40% of its net assets in foreign securities. The Fund’s investments may be denominated in both the U.S. dollar and currencies of other developing and emerging market countries and the Fund may invest without limit in developing and emerging markets.The Fund focuses on investment grade securities but may invest up to 25% of its total assets in below investment grade securities (commonly known as “high yield securities” or “junk bonds”). The Fund may invest in exchange-traded funds (“ETFs”) and other pooled investment vehicles. The Fund may also invest in derivatives, including but not limited to futures contracts, forward foreign currency contracts, options on futures contracts, purchased and written options, purchased and written swaptions, credit default swaps, total return swaps and interest rate 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.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: Insight North America LLC (“Insight”) and RBC Global Asset Management (UK) Limited (“RBC GAM UK”) (each, a “Sub-Adviser,” and collectively, the “Sub-Advisers”).Insight focuses on identifying undervalued government bond markets, currencies, sectors and securities and looks for fixed income securities with the most potential for added value.RBC GAM UK’s investment process combines a top-down focus on structural trends in policy and politics and impacts on global fixed income markets with a bottom-up relative value strategy for security and sector selection. RBC GAM UK also incorporates environmental, social and governance (“ESG”) factors as part of its investment process. Consideration of ESG factors and risks is only one component of RBC GAM UK’s assessment of eligible investments and may not be a determinative factor in its final decision on whether to invest in an issuer.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 Insight and a 50% allocation of the Fund’s assets to RBC GAM UK. Notwithstanding these target allocations, ECM may change the asset allocations at any time and without shareholder notice or approval.
Read More

MXZMX - Performance

Return Ranking - Trailing

Period MXZMX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.5% -59.5% 0.9% 44.17%
1 Yr -0.9% -15.5% 19.7% 49.52%
3 Yr -5.4%* -4.3% 4.2% 90.55%
5 Yr -2.5%* -2.5% 4.1% 93.62%
10 Yr N/A* -3.0% 2.7% 63.43%

* Annualized

Return Ranking - Calendar

Period MXZMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -15.2% 0.9% 27.00%
2022 -15.4% -10.9% 12.2% 72.68%
2021 -6.2% -10.8% 14.8% 91.15%
2020 4.2% -15.3% 0.6% 13.87%
2019 0.4% -44.4% 14.4% 92.02%

Total Return Ranking - Trailing

Period MXZMX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.5% -59.5% 0.9% 42.23%
1 Yr -0.9% -16.6% 30.5% 44.55%
3 Yr -5.4%* -5.2% 10.9% 86.96%
5 Yr -2.5%* -2.8% 7.4% 92.27%
10 Yr N/A* -3.0% 3.6% 61.33%

* Annualized

Total Return Ranking - Calendar

Period MXZMX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -15.2% 0.9% 27.00%
2022 -14.3% -10.9% 12.2% 72.68%
2021 -6.0% -10.8% 14.8% 92.71%
2020 5.7% -15.3% 3.8% 9.83%
2019 4.4% -44.4% 14.4% 94.48%

NAV & Total Return History

MXZMX - Holdings

Concentration Analysis

MXZMX Category Low Category High MXZMX % Rank
Net Assets 542 M 74.5 K 14.7 B 45.10%
Number of Holdings 781 4 4562 53.08%
Net Assets in Top 10 171 M -112 M 3.66 B 33.18%
Weighting of Top 10 32.26% 4.7% 100.0% 73.56%

Top 10 Holdings

  1. MORGAN STANLEY 6.57%
  2. RBC CAPITAL MARKETS 4.28%
  3. T 2.25 03/31/24 3.96%
  4. CITIGROUP GLOBAL MARKETS 2.97%
  5. HSBC SECURITIES INC 2.81%
  6. T 2.5 04/30/24 2.73%
  7. MBONO 5.5 03/04/27 M 2.59%
  8. Ishares Trust USD INV GRDE ETF 2.25%
  9. BTPS 4.4 05/01/33 10Y 2.11%
  10. T 4 07/31/30 2.00%

Asset Allocation

Weighting Return Low Return High MXZMX % Rank
Bonds 		96.66% 0.00% 220.33% 50.24%
Other 		83.59% -9.71% 100.00% 28.91%
Stocks 		3.09% 0.00% 7.47% 45.97%
Convertible Bonds 		2.17% 0.00% 11.19% 35.55%
Preferred Stocks 		0.00% 0.00% 2.87% 10.90%
Cash 		0.00% -130.07% 95.62% 55.45%

Stock Sector Breakdown

Weighting Return Low Return High MXZMX % Rank
Utilities 		0.00% 0.00% 91.33% N/A
Technology 		0.00% 0.00% 21.64% N/A
Real Estate 		0.00% 0.00% 3.17% N/A
Industrials 		0.00% 0.00% 11.80% N/A
Healthcare 		0.00% 0.00% 9.46% N/A
Financial Services 		0.00% 0.00% 100.00% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 56.19% N/A
Consumer Defense 		0.00% 0.00% 34.30% N/A
Consumer Cyclical 		0.00% 0.00% 27.00% N/A
Basic Materials 		0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High MXZMX % Rank
US 		3.09% 0.00% 6.55% 40.28%
Non US 		0.00% 0.00% 1.77% 24.64%

Bond Sector Breakdown

Weighting Return Low Return High MXZMX % Rank
Derivative 		77.22% 0.00% 74.77% 62.98%
Government 		52.64% 0.30% 99.47% 45.19%
Corporate 		25.42% 0.00% 98.62% 37.50%
Securitized 		16.81% 0.00% 52.02% 12.50%
Cash & Equivalents 		0.00% 0.00% 95.62% 59.13%
Municipal 		0.00% 0.00% 7.95% 50.00%

Bond Geographic Breakdown

Weighting Return Low Return High MXZMX % Rank
Non US 		51.32% 0.00% 112.80% 70.14%
US 		45.34% -5.52% 107.53% 26.54%

MXZMX - Expenses

Operational Fees

MXZMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.02% 3.65% 65.55%
Management Fee 0.57% 0.00% 2.08% 62.93%
12b-1 Fee 0.00% 0.00% 1.00% 3.03%
Administrative Fee N/A 0.01% 0.45% 1.47%

Sales Fees

MXZMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MXZMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

MXZMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 184.00% 6.00% 354.00% 88.76%

MXZMX - Distributions

Dividend Yield Analysis

MXZMX Category Low Category High MXZMX % Rank
Dividend Yield 0.00% 0.00% 17.40% 38.39%

Dividend Distribution Analysis

MXZMX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Quarterly Monthly Monthly

Net Income Ratio Analysis

MXZMX Category Low Category High MXZMX % Rank
Net Income Ratio 0.74% -1.08% 5.77% 84.80%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MXZMX - Fund Manager Analysis

Managers

Brendan Murphy

Start Date

Tenure

Tenure Rank

Jul 13, 2018

3.88

3.9%

Mr. Murphy, CFA, is Head of Global Fixed Income, North America, at INA. He has been employed by INA or a predecessor company of INA since 2005. He was managing director of global and multi-sector strategies. Previously, he served as director and senior portfolio manager of global strategies responsible for managing non-U.S., global and opportunistic bond portfolios. Before being promoted to portfolio manager in 2009, he was a senior trader responsible for trading developed and emerging market non-USD securities as well as all foreign currencies. Mr. Murphy joined Mellon in 2005 from State Street Research, where he was a senior trader responsible for investment grade corporate bonds. He holds a B.A. from Trinity College.

Mark Dowding

Start Date

Tenure

Tenure Rank

Jul 09, 2021

0.89

0.9%

Mark is BlueBay’s Chief Investment Officer. He has over 25 years’ investment experience as a macro fixed income investor and has been a senior portfolio manager at BlueBay since 2010. Prior to joining BlueBay, Mark was Head of Fixed Income in Europe for Deutsche Asset Management, a role he previously occupied at Invesco. He started his career as a fixed income portfolio manager at Morgan Grenfell in 1993 and holds a BSc (Hons) in Economics from the University of Warwick.

Kaspar Hense

Start Date

Tenure

Tenure Rank

Jul 09, 2021

0.89

0.9%

Kaspar joined BlueBay in August 2014 and is a Senior Portfolio Manager within the Investment Grade team. Prior to joining BlueBay, Kaspar worked at TD Securities and Deutsche Asset and Wealth Management where he was responsible for the global aggregate bond strategy. He holds a Master's Degree in Financial Management and a Master's Degree in Economics from the Christian Albrechts University of Kiel. Kaspar is a CFA charterholder.

Nathaniel Hyde

Start Date

Tenure

Tenure Rank

Apr 29, 2022

0.09

0.1%

Nathaniel A. Hyde, CFA Vice President, Portfolio Manager Nate is a portfolio manager on the Global and Multi-Sector Fixed Income Team where he specializes in local and hard currency emerging market debt. Nate previously served as a sovereign analyst contributing to interest rate and currency strategy for global and emerging market portfolios. Nate has been in the investment industry since 2006 and has spent his entire career with the firm. Nate earned a BA from Bowdoin College. He holds the CFA® designation and is a member of the CFA Institute and the CFA Society of Boston.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.31 6.8 3.67

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