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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 Short Duration Bond Fund

MXSDX | Fund

$10.32

$415 M

1.03%

$0.11

0.68%

Vitals

YTD Return

0.3%

1 yr return

3.9%

3 Yr Avg Return

0.5%

5 Yr Avg Return

1.8%

Net Assets

$415 M

Holdings in Top 10

10.5%

52 WEEK LOW AND HIGH

$10.3
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 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 Short Duration Bond Fund

MXSDX | Fund

$10.32

$415 M

1.03%

$0.11

0.68%

MXSDX - Profile

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 1.06%
DIVIDENDS
  • Dividend Yield 1.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Empower Short Duration Bond Fund
  • Fund Family Name
    Great-West Funds
  • Inception Date
    Oct 24, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jack 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 will maintain an actively managed portfolio of bonds selected from several categories, including corporate bonds; securitized assets, including asset-backed securities, residential mortgage-backed securities (which may be backed by non-qualified or “sub-prime” mortgages), commercial mortgage-backed securities and collateralized mortgage obligations; U.S. Treasuries and agency securities; structured credit; commercial paper; and foreign government securities, including obligations of governments in developed and emerging markets.The Fund may also invest in below investment grade securities (commonly known as “high yield securities” or “junk bonds”), including bank loans.The Fund will normally maintain a dollar weighted effective average duration of three years or less. “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 invest in derivatives, including but not limited to futures, options, certain foreign currency transactions, and credit default, total return and interest rate swap contracts.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 bottom-up fundamental research with quantitative analysis, employing sector expertise across the broad global fixed income opportunity set. 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.
Read More

MXSDX - Performance

Return Ranking - Trailing

Period MXSDX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -4.8% 10.2% 58.55%
1 Yr 3.9% -4.3% 23.7% 39.53%
3 Yr 0.5%* -6.8% 4.1% 35.94%
5 Yr 1.8%* -4.4% 4.3% 27.69%
10 Yr 1.1%* -19.2% 169.6% 65.71%

* Annualized

Return Ranking - Calendar

Period MXSDX Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -5.4% 7.6% 8.39%
2022 -5.7% -17.7% -2.6% 21.15%
2021 -1.9% -4.0% 4.4% 68.01%
2020 2.4% -8.3% 7.6% 33.14%
2019 3.2% -2.3% 9.3% 15.79%

Total Return Ranking - Trailing

Period MXSDX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -4.8% 10.2% 58.55%
1 Yr 3.9% -4.3% 23.7% 39.53%
3 Yr 0.5%* -6.8% 4.1% 35.94%
5 Yr 1.8%* -4.4% 4.3% 27.69%
10 Yr 1.1%* -19.2% 169.6% 65.71%

* Annualized

Total Return Ranking - Calendar

Period MXSDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -1.1% 15.2% 46.72%
2022 -4.2% -17.3% -1.3% 33.95%
2021 0.0% -2.7% 7.7% 49.43%
2020 4.6% -4.4% 14.5% 37.45%
2019 5.4% 0.6% 12.6% 26.52%

NAV & Total Return History

MXSDX - Holdings

Concentration Analysis

MXSDX Category Low Category High MXSDX % Rank
Net Assets 415 M 14.5 K 57.3 B 69.68%
Number of Holdings 207 2 9251 74.37%
Net Assets in Top 10 35.1 M 1.16 M 6.6 B 85.02%
Weighting of Top 10 10.50% 1.8% 108.7% 84.84%

Top 10 Holdings

  1. BAC V3.458 03/15/25 MTN 1.46%
  2. C F 06/09/27 1.17%
  3. JPM V2.595 02/24/26 1.13%
  4. VOYA 2016-1A BR 1.03%
  5. WBD 3.788 03/15/25 144A 1.01%
  6. EPR 4.5 04/01/25 0.99%
  7. FITB 2.375 01/28/25 0.97%
  8. SYF 4.875 06/13/25 0.97%
  9. CORPORATE TERM LOAN 0.88%
  10. PVH 4.625 07/10/25 0.88%

Asset Allocation

Weighting Return Low Return High MXSDX % Rank
Bonds 		87.12% 0.00% 130.68% 52.17%
Other 		15.11% -0.97% 72.36% 26.35%
Convertible Bonds 		6.28% 0.00% 27.71% 7.78%
Stocks 		0.00% 0.00% 103.64% 85.92%
Preferred Stocks 		0.00% 0.00% 22.27% 83.75%
Cash 		0.00% -20.59% 62.18% 99.64%

Bond Sector Breakdown

Weighting Return Low Return High MXSDX % Rank
Corporate 		82.07% 0.00% 100.00% 5.61%
Securitized 		15.50% 0.00% 97.27% 78.84%
Government 		1.59% 0.00% 73.63% 88.61%
Derivative 		0.20% -0.55% 28.01% 17.51%
Cash & Equivalents 		0.00% 0.00% 62.18% 97.83%
Municipal 		0.00% 0.00% 17.46% 89.87%

Bond Geographic Breakdown

Weighting Return Low Return High MXSDX % Rank
US 		87.12% 0.00% 130.68% 46.57%
Non US 		0.00% 0.00% 83.16% 86.28%

MXSDX - Expenses

Operational Fees

MXSDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.01% 3.24% 51.37%
Management Fee 0.23% 0.00% 1.19% 23.47%
12b-1 Fee 0.00% 0.00% 1.00% 14.98%
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% 72.37%

MXSDX - Distributions

Dividend Yield Analysis

MXSDX Category Low Category High MXSDX % Rank
Dividend Yield 1.03% 0.00% 10.67% 98.56%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MXSDX Category Low Category High MXSDX % Rank
Net Income Ratio 1.06% -1.27% 4.98% 57.75%

Capital Gain Distribution Analysis

MXSDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Annually Annually

Distributions History

View More +

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 6.14 2.41

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