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Name

As of 12/23/2024

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 Lifetime 2045 Fund

MXWEX | Fund

$6.07

$1.12 B

0.00%

0.56%

Vitals

YTD Return

12.0%

1 yr return

12.8%

3 Yr Avg Return

-2.0%

5 Yr Avg Return

4.4%

Net Assets

$1.12 B

Holdings in Top 10

72.5%

52 WEEK LOW AND HIGH

$6.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/23/2024

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 Lifetime 2045 Fund

MXWEX | Fund

$6.07

$1.12 B

0.00%

0.56%

MXWEX - Profile

Distributions

  • YTD Total Return 12.0%
  • 3 Yr Annualized Total Return -2.0%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Semi-Monthly
  • Net Income Ratio 3.11%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Empower Lifetime 2045 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
    Andrew Corwin

Fund Description

Below is a summary of the principal investment strategies of the Fund.The Fund is a “fund-of-funds” that seeks to achieve its objective by investing in a professionally selected mix of mutual funds and in a fixed interest contract (the “Contract” or the “Empower of America Contract”) issued and guaranteed by Empower Annuity Insurance Company of America (“Empower of America”) that is tailored for investors planning to retire in (or otherwise begin using the invested funds on), or close to, 2045 (which is assumed to be at age 65). The mutual funds and the Contract are referred to as the “Underlying Funds.” The Fund is designed for investors who plan to withdraw the value of their account in the Fund gradually after retirement. Depending on its risk profile and proximity to 2045, the Fund employs a combination of investments among Underlying Funds in order to emphasize, as appropriate, growth, income and/or preservation of capital. The Fund currently expects (as of the date of this Prospectus) to invest 75-95% of its net assets in Underlying Funds that invest primarily in equity securities, 2-20% of its net assets in Underlying Funds that invest primarily in fixed income securities, and 0-10% of its net assets in Underlying Funds that invest primarily in real estate-related securities. Over time, the Fund’s asset allocation strategy will generally become more conservative, with greater emphasis on investments that provide for income and preservation of capital, and less on those offering the potential for growth.The following chart illustrates the Fund’s target asset allocations among U.S. equity, foreign equity, fixed income, and real estate-related securities as of the date of this Prospectus. The chart represents the asset allocation path (the “glide path”) that the Fund follows to become more conservative over time. The glide path reflects the declining percentage of equities in the Fund as it approaches and passes the target date. The glide path provides for more exposure to equities for investors further from retirement and more exposure to fixed income securities for investors near and through retirement. The glide path continues to adjust the Fund’s equity exposure downward after the target date is reached.The illustration reflects the Fund’s neutral allocations without any tactical adjustments by Empower Capital Management, LLC (“ECM”), the Fund’s investment adviser. The Fund’s actual asset allocations may differ from this illustration to reflect ECM’s tactical adjustments to the asset mix based on market outlook or other factors.ECM uses asset allocation strategies to allocate the Fund’s assets among different broad asset classes and the Underlying Funds. Each Underlying Fund has its own investment objectives and strategies and may hold a wide range of securities and other instruments in its portfolio, including, without limitation, U.S. and foreign equity securities (including those from emerging markets), U.S. and foreign fixed income securities (including those rated below investment grade), real estate investments, short-term investments and derivatives. The following table shows the Fund’s target allocation for the various asset classes and the Underlying Funds in which the Fund expects to invest as of the date of this Prospectus:Large Cap37.90%Empower Large Cap Growth Fund InstitutionalEmpower Large Cap Value Fund InstitutionalEmpower S&P 500® Index Fund InstitutionalMid Cap11.40%Empower Mid Cap Value Fund InstitutionalEmpower T. Rowe Price Mid Cap Growth Fund InstitutionalSmall Cap6.27%Empower Small Cap Growth Fund InstitutionalEmpower Small Cap Value Fund InstitutionalJanus Henderson Triton Fund NInternational21.52%Empower International Growth Fund InstitutionalEmpower International Index Fund InstitutionalEmpower International Value Fund InstitutionalEmerging Markets6.91%Empower Emerging Markets Equity Fund InstitutionalFidelity Emerging Markets Index FundBond11.25%Empower Bond Index Fund InstitutionalEmpower Core Bond Fund InstitutionalEmpower Global Bond Fund InstitutionalEmpower High Yield Bond Fund InstitutionalEmpower Multi-Sector Bond Fund InstitutionalReal Estate3.22%Empower Real Estate Index Fund InstitutionalShort-Term Bond/Cash1.53%Empower of America ContractEmpower Short Duration Bond Fund InstitutionalThe Fund will rebalance its holdings of the Underlying Funds on a periodic basis to maintain the appropriate asset allocations. ECM reviews asset class allocations, Underlying Fund allocations, and the Underlying Funds on a quarterly basis, or more frequently as deemed necessary. ECM may add or delete asset classes, change target asset class or Underlying Fund allocations, or add or delete Underlying Funds at any time without shareholder notice or approval.
Read More

MXWEX - Performance

Return Ranking - Trailing

Period MXWEX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.0% 2.1% 23.3% 91.28%
1 Yr 12.8% 2.6% 22.7% 91.28%
3 Yr -2.0%* -2.0% 7.1% 100.00%
5 Yr 4.4%* 4.3% 10.3% 100.00%
10 Yr N/A* 5.4% 9.8% 33.90%

* Annualized

Return Ranking - Calendar

Period MXWEX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% 4.8% 21.3% 100.00%
2022 -31.3% -65.7% -14.5% 92.78%
2021 -3.8% -4.7% 18.7% 98.38%
2020 2.3% 2.3% 15.5% 100.00%
2019 N/A 8.2% 23.0% 100.00%

Total Return Ranking - Trailing

Period MXWEX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.0% 2.1% 23.3% 91.28%
1 Yr 12.8% 2.6% 22.7% 91.28%
3 Yr -2.0%* -2.0% 7.1% 100.00%
5 Yr 4.4%* 4.3% 10.3% 100.00%
10 Yr N/A* 5.4% 9.8% 34.48%

* Annualized

Total Return Ranking - Calendar

Period MXWEX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% 11.2% 37.0% 100.00%
2022 -16.6% -28.2% 0.1% 28.87%
2021 4.2% 4.2% 22.9% 100.00%
2020 14.3% 7.8% 23.2% 73.41%
2019 N/A 21.3% 37.2% 97.45%

NAV & Total Return History

MXWEX - Holdings

Concentration Analysis

MXWEX Category Low Category High MXWEX % Rank
Net Assets 1.12 B 6.93 M 79.9 B 44.10%
Number of Holdings 27 2 586 24.62%
Net Assets in Top 10 830 M 9.98 M 91 B 45.64%
Weighting of Top 10 72.50% 42.4% 144.1% 83.96%

Top 10 Holdings

  1. SP 500 INDEX FUND-INST 14.84%
  2. INTERNATIONAL INDEX FUND-INST 11.16%
  3. LARGE CAP VALUE-INST 7.70%
  4. MULTI-MAN LRG CAP GROWTH-INST 7.08%
  5. SP MID CAP 400 IND FUND-INST 6.31%
  6. MFS INTL VALUE FUND-INST 5.88%
  7. MFS INTL GROWTH FUND-INST 5.23%
  8. FIDELITY EMRG MKT 4.82%
  9. EM EQUITY FUND INST CL 4.81%
  10. SP 600 INDEX FUND-INST 4.68%

Asset Allocation

Weighting Return Low Return High MXWEX % Rank
Stocks 		98.96% 0.00% 100.11% 61.54%
Bonds 		1.07% 0.00% 25.62% 13.85%
Convertible Bonds 		0.37% 0.00% 1.09% 5.13%
Preferred Stocks 		0.00% 0.00% 0.03% 53.33%
Other 		0.00% -0.02% 11.52% 58.46%
Cash 		0.00% 0.00% 45.56% 94.36%

Stock Sector Breakdown

Weighting Return Low Return High MXWEX % Rank
Technology 		17.21% 14.05% 23.99% 92.31%
Financial Services 		15.37% 13.09% 18.83% 38.46%
Industrials 		12.03% 9.12% 12.31% 5.64%
Healthcare 		11.98% 10.69% 14.59% 70.77%
Consumer Cyclical 		11.35% 8.06% 13.31% 41.54%
Real Estate 		8.36% 1.86% 10.17% 18.46%
Communication Services 		6.94% 5.69% 10.23% 68.21%
Consumer Defense 		6.67% 4.68% 11.06% 53.33%
Basic Materials 		4.81% 3.18% 6.86% 47.69%
Energy 		2.89% 2.33% 6.54% 93.33%
Utilities 		2.40% 1.89% 8.09% 78.46%

Stock Geographic Breakdown

Weighting Return Low Return High MXWEX % Rank
US 		98.96% 0.00% 100.11% 61.54%
Non US 		0.00% 0.00% 38.46% 55.38%

Bond Sector Breakdown

Weighting Return Low Return High MXWEX % Rank
Corporate 		40.32% 3.21% 43.85% 3.08%
Government 		31.32% 11.67% 67.01% 68.72%
Securitized 		23.60% 0.00% 34.36% 10.77%
Municipal 		0.40% 0.00% 1.01% 25.13%
Derivative 		0.00% -0.02% 1.09% 54.36%
Cash & Equivalents 		0.00% 0.00% 78.34% 77.44%

Bond Geographic Breakdown

Weighting Return Low Return High MXWEX % Rank
US 		1.07% 0.00% 24.00% 13.85%
Non US 		0.00% 0.00% 1.62% 53.33%

MXWEX - Expenses

Operational Fees

MXWEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.01% 19.43% 68.72%
Management Fee 0.12% 0.00% 0.88% 41.53%
12b-1 Fee 0.00% 0.00% 1.00% 7.78%
Administrative Fee N/A 0.01% 0.29% 2.02%

Sales Fees

MXWEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

MXWEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 0.42% 115.00% 66.10%

MXWEX - Distributions

Dividend Yield Analysis

MXWEX Category Low Category High MXWEX % Rank
Dividend Yield 0.00% 0.00% 6.14% 78.46%

Dividend Distribution Analysis

MXWEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

MXWEX Category Low Category High MXWEX % Rank
Net Income Ratio 3.11% -0.42% 3.87% 2.21%

Capital Gain Distribution Analysis

MXWEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Monthly Annually Annually Annually

Distributions History

View More +

MXWEX - Fund Manager Analysis

Managers

Andrew Corwin

Start Date

Tenure

Tenure Rank

May 01, 2014

8.09

8.1%

Andrew Corwin, CFA, Portfolio Manager, has managed since 2014. Andrew Corwin, Assistant Portfolio Manager, has joined Great-West Capital Management, LLC since 2011. Mr. Corwin was previously an Investment Analyst and Investment Consultant at Strategies, LLC 2009-2011. Mr. Corwin received a B.S. in business administration with an emphasis in finance as well as a minor in mathematics from the University of Colorado.

Maria Mendelsberg

Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.09

4.1%

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
0.08 17.59 5.65 2.41

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