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Empower Global Bond Fund
mutual fund
MXZMX
Payout Change
Suspended
Price as of:
$7.85
-0.01
-0.13%
primary theme
N/A
share class
MXZMX (Mutual Fund)
Empower Global Bond Fund
Payout Change
Suspended
Price as of:
$7.85
-0.01
-0.13%
primary theme
N/A
share class
MXZMX (Mutual Fund)
Empower Global Bond Fund
Payout Change
Suspended
Price as of:
$7.85
-0.01
-0.13%
primary theme
N/A
share class
Name
As of 12/11/2024Price
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
Vitals
YTD Return
1.6%
1 yr return
4.8%
3 Yr Avg Return
-2.9%
5 Yr Avg Return
-1.7%
Net Assets
$534 M
Holdings in Top 10
36.8%
52 WEEK LOW AND HIGH
$7.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.67%
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 12/11/2024Price
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
MXZMX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return -2.9%
- 5 Yr Annualized Total Return -1.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.74%
- Dividend Yield 0.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameEmpower Global Bond Fund
-
Fund Family NameGreat-West Funds
-
Inception DateMay 01, 2015
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrendan 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 and options on futures contracts; forward foreign currency contracts; purchased and written options; purchased and written swaptions; and credit default, total return 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. ESG considerations are only one component in the evaluation of eligible investments and may not be a determinative factor in the final investment decision.ECM maintains a strategic 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 percentage is a 50% allocation of the Fund’s assets to Insight and a 50% allocation of the Fund’s assets to RBC GAM UK. Actual allocations may vary from the target allocations and ECM may change the asset allocations at any time without shareholder notice or approval.
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MXZMX - Performance
Return Ranking - Trailing
| Period | MXZMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -59.5% | 0.9% | 44.17% |
| 1 Yr | 4.8% | -15.5% | 19.7% | 49.52% |
| 3 Yr | -2.9%* | -4.3% | 4.2% | 90.55% |
| 5 Yr | -1.7%* | -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 | 1.6% | -59.5% | 0.9% | 42.23% |
| 1 Yr | 4.8% | -16.6% | 30.5% | 44.55% |
| 3 Yr | -2.9%* | -5.2% | 10.9% | 86.96% |
| 5 Yr | -1.7%* | -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 | 534 M | 74.5 K | 14.7 B | 45.10% |
| Number of Holdings | 903 | 4 | 4562 | 53.08% |
| Net Assets in Top 10 | 201 M | -112 M | 3.66 B | 33.18% |
| Weighting of Top 10 | 36.79% | 4.7% | 100.0% | 73.56% |
Top 10 Holdings
- BROWN BROTHERS HARRIMAN 10.18%
- CITIGROUP GLOBAL MARKETS 4.53%
- SKANDINAVISKA ENSKILDA 3.51%
- T 3.125 08/15/25 3.21%
- JP MORGAN SECURITIES INC 3.12%
- BNP PARIBAS 3.00%
- TII 2.125 04/15/29 2.83%
- T 4 02/15/34 2.32%
- MBONO 5.5 03/04/27 M 2.22%
- KTB 4.25 12/10/32 3212 1.88%
Asset Allocation
| Weighting | Return Low | Return High | MXZMX % Rank | |
|---|---|---|---|---|
| Bonds | 97.87% | 0.00% | 220.33% | 50.24% |
| Other | 84.09% | -9.71% | 100.00% | 28.91% |
| Convertible Bonds | 2.17% | 0.00% | 11.19% | 35.55% |
| Cash | 1.83% | -130.07% | 95.62% | 55.45% |
| Stocks | 0.63% | 0.00% | 7.47% | 45.97% |
| Preferred Stocks | 0.00% | 0.00% | 2.87% | 10.90% |
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 | 0.63% | 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 | 81.31% | 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 | 1.83% | 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 | 56.16% | 0.00% | 112.80% | 70.14% |
| US | 41.72% | -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 | 0.67% | 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
| Date | Amount | Type |
|---|---|---|
| Jun 23, 2023 | $0.068 | OrdinaryDividend |
| Sep 06, 2022 | $0.033 | CapitalGainLongTerm |
| Jun 23, 2022 | $0.061 | OrdinaryDividend |
| Jun 23, 2021 | $0.017 | OrdinaryDividend |
| Sep 04, 2020 | $0.105 | OrdinaryDividend |
| Jun 24, 2020 | $0.023 | OrdinaryDividend |
| Dec 27, 2019 | $0.143 | OrdinaryDividend |
| Sep 06, 2019 | $0.066 | OrdinaryDividend |
| Jun 24, 2019 | $0.143 | OrdinaryDividend |
| Dec 27, 2018 | $0.068 | OrdinaryDividend |
| Dec 27, 2018 | $0.030 | CapitalGainLongTerm |
| Jun 22, 2018 | $0.195 | OrdinaryDividend |
| Dec 27, 2017 | $0.011 | CapitalGainLongTerm |
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 |
