Fund Evaluator:
Empower International Index Inv (MXINX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Empower International Index Inv Overview
Empower International Index Inv (MXINX) is a passively managed International Equity Foreign Large Blend fund. Empower Funds launched the fund in 2011.
The investment seeks investment results, before fees and expenses that track the total return of the common stocks that comprise the MSCI EAFE (Europe, Australasia, Far East) Index. The fund normally invests at least 80% of its net assets in common stocks of the companies included in the benchmark index or in derivative securities economically related to the benchmark index. The adviser uses the replication method of indexing, meaning the fund seeks to own the securities contained in the benchmark index in as close as possible a proportion of the fund as each stock’s weight in the benchmark index.
About Empower International Index Inv (MXINX)
There are 3 members of the management team with an average tenure of 10.26 years: Nicola Dowdall (2016), Michael Lynch (2016), Peter Leonard (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EAFE NR USD index with a weighting of 100%. Empower International Index Inv has 696 securities in its portfolio. The top 10 holdings constitute 13.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Empower International Index Inv is part of the Equity global asset class and is within the International Equity fund group. Empower International Index Inv has 96.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.2%. There is 95.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 1.0% (0.0% domestic bond, 1.0% foreign bond and 0.0% convertible bond). Empower International Index Inv has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below the $2 billion average for the Foreign Large Blend 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.
MXINX 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 International Index Inv expense ratio is average compared to funds in the Foreign Large Blend category. Empower International Index Inv has an expense ratio of 0.58%, which is 38% lower than its category average, making the fund expense ratio grade a A. 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 International Index Inv has a portfolio turnover rate of 7%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of July 2026, Empower International Index Inv returned 1.7%, which earned it a grade of B, as the Foreign Large Blend category had an average return of 0.7%. 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 International Index Inv has a trailing yield of 1.97%, which is below the 2.17% category average. The fund normally distributes its income none and its capital gains annually.
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 International Index Inv Grades
Year to date, the fund has returned 11.9%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 25.1% over the past year (grade of C), 15.6% over the past three years (grade of C) and 8.8% per year over the past five years (grade of C) and 8.9% per year over the past 10 years (grade of D).
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MXINX 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 |
|
| MXINX Return (NAV) | 1.7% | 4.6% | 25.1% | 15.6% | 8.8% | 8.9% |
| MXINX Grade | B | C | C | C | C | D |
| +/- Category | 1.0% | 0.2% | 0.9% | -0.3% | 0.4% | -0.2% |
| Foreign Large Blend Avg | 0.7% | 4.4% | 24.2% | 15.9% | 8.4% | 9.1% |
| MXINX Tax Cost Ratio | na | na | 1.1% | 1.1% | 1.2% | 1.1% |
MXINX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXINX Return (NAV) | 11.9% | 30.9% | 2.9% | 17.5% | -14.7% | 10.7% | 7.5% | 21.2% | -13.8% | 24.6% | 0.7% |
| MXINX Grade | C | C | D | B | B | C | D | D | B | D | C |
| +/- Category | 0.2% | 0.4% | -2.0% | 1.3% | 1.6% | 0.6% | -4.3% | -1.7% | 1.4% | -1.8% | -0.3% |
| Foreign Large Blend Avg | 11.6% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 12.8% |
| Total Risk Index: | 1.04 - Above Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (51% Rank) |
| Beta: | 0.87 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.0% |
| Dividend Distribution: | None |
| Cap Gains Distribution: | Annually |
| Total Assets: | $3608 Mil |
| Fund Total Assets: | $2,577 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 7% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.3 years | |||
| Average Tenure: 10.3 years | |||
| Managers (Year): Dowdall Nicola (2016), Lynch Michael (2016), Leonard Peter (2016) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 696 |
| % in Top 10 Holdings: | 13.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 96.4% |
Portfolio Allocation |
|
| Domestic Stock: | 1.2% |
| Foreign Stock: | 95.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 1.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.8% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | Empower Funds |
| Phone Number: | 866-831-7129 |
| Website: | www.greatwestfunds.com |
| Status: | Open |
| Inception Date: | January 13, 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: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.58% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Empower International Index Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
