Fund Evaluator:
Empower Moderate Profile L (MXGPX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
Empower Moderate Profile L Overview
Empower Moderate Profile L (MXGPX) is an actively managed Allocation Global Moderate Allocation fund. Empower Funds launched the fund in 2011.
The investment seeks long-term capital appreciation primarily through investments in underlying funds with a relatively equal emphasis on equity and fixed income investments. The fund usually invests assets in underlying funds according to the following asset allocation ranges: 0% to 30% of assets in international funds, 0% to 25% of assets in small cap funds, 0%-10% of assets in emerging markets funds, 0% to 30% of assets in mid cap funds, 10% to 40% in large cap funds, 0-10% of assets in real estate, and 10% to 30% in bond funds and 5% to 25% in short term bond funds. While the fund is non-diversified, it invests in diversified underlying holdings.
About Empower Moderate Profile L (MXGPX)
There are 2 members of the management team with an average tenure of 10.26 years: Andrew Corwin (2014), Maria Mendelsberg (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Wilshire 5000 Total Mkt TR USD index with a weighting of 100%. Empower Moderate Profile L has 18 securities in its portfolio. The top 10 holdings constitute 76.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Empower Moderate Profile L is part of the Allocation global asset class and is within the Allocation fund group. Empower Moderate Profile L has 22.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 41.9%. There is 17.8% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 22.4% (18.2% domestic bond, 4.2% foreign bond and 0.5% convertible bond). Empower Moderate Profile L has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $122 million in total assets, which is below the $947 million average for the Global Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MXGPX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Empower Moderate Profile L expense ratio is high compared to funds in the Global Moderate Allocation category. Empower Moderate Profile L has an expense ratio of 1.15%, which is 10% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Empower Moderate Profile L has a portfolio turnover rate of 13%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 64% for the Global Moderate Allocation category.
Recently, in the month of July 2026, Empower Moderate Profile L returned 0.0%, which earned it a grade of B, as the Global Moderate Allocation category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Empower Moderate Profile L has a trailing yield of 0.83%, which is below the 2.61% category average. The fund normally distributes its income annually and its capital gains semi-monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Empower Moderate Profile L Grades
Year to date, the fund has returned 7.5%, 0.6 percentage points worse than the category, which translates into a grade of C. The fund has returned 13.4% over the past year (grade of F), 9.9% over the past three years (grade of F) and 5.3% per year over the past five years (grade of D) and 7.1% per year over the past 10 years (grade of C).
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MXGPX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MXGPX Return (NAV) | 0.0% | 2.7% | 13.4% | 9.9% | 5.3% | 7.1% |
| MXGPX Grade | B | B | F | F | D | C |
| +/- Category | -0.3% | 0.6% | -2.6% | -2.0% | -0.9% | -0.2% |
| Global Moderate Allocation Avg | 0.3% | 2.1% | 16.0% | 11.9% | 6.2% | 7.3% |
| MXGPX Tax Cost Ratio | na | na | 1.0% | 1.0% | 1.2% | 1.3% |
MXGPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXGPX Return (NAV) | 7.5% | 11.7% | 7.6% | 11.6% | -12.2% | 11.6% | 11.0% | 17.2% | -6.5% | 12.6% | 8.1% |
| MXGPX Grade | C | F | D | D | B | C | C | D | B | D | B |
| +/- Category | -0.6% | -4.4% | -0.8% | -0.6% | 1.2% | -0.1% | 1.3% | -0.4% | 0.7% | -1.5% | 1.5% |
| Global Moderate Allocation Avg | 8.1% | 16.1% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 8.4% |
| Total Risk Index: | 0.69 - Below Average |
| Category Risk Index: | 0.92 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 0.88 |
| R-Squared: | 95% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Semi-Monthly |
| Total Assets: | $2768 Mil |
| Fund Total Assets: | $ 122 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 13% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.3 years | |||
| Average Tenure: 10.3 years | |||
| Managers (Year): Corwin Andrew (2014), Mendelsberg Maria (2018) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 18 |
| % in Top 10 Holdings: | 76.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 22.0% |
Portfolio Allocation |
|
| Domestic Stock: | 41.9% |
| Foreign Stock: | 17.8% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 18.2% |
| Foreign Bond: | 4.2% |
| Convertible Bond: | 0.5% |
| Other: | 16.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Empower Funds |
| Phone Number: | 866-831-7129 |
| Website: | www.greatwestfunds.com |
| Status: | Open |
| Inception Date: | July 29, 2011 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | Empower Moderate Profile Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
