Fund Evaluator:
Empower Mid Cap Value Instl (MXKJX)
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Best Performing in Mid-Cap Value Over the Last Year
| 41.4% | Fidelity Value Strategies (FSLSX) |
| 39.3% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 38.8% | Harbor Mid Cap Value Instl (HAMVX) |
| 38.3% | Harbor Mid Cap Value Investor (HIMVX) |
Fund Details
Empower Mid Cap Value Instl Overview
Empower Mid Cap Value Instl (MXKJX) is an actively managed U.S. Equity Mid-Cap Value fund. Empower Funds launched the fund in 2015.
The investment seeks long-term growth of capital. The fund will, under normal circumstances, invest at least 80% of its net assets in equity securities of U.S. mid-capitalization (“mid cap”) companies, including foreign issuers that are traded in the U.S. For purposes of the 80% policy, the adviser considers mid cap companies to be those whose market capitalization falls within the range of the Russell Midcap ® Value Index at the time of initial purchase.
About Empower Mid Cap Value Instl (MXKJX)
There are 5 members of the management team with an average tenure of 9.49 years: Len Ioffe (2011), Osman Ali (2013), Dennis Walsh (2013), Takashi Suwabe (2021), Sharanya Srinivasan (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Empower Mid Cap Value Instl has 187 securities in its portfolio. The top 10 holdings constitute 12.5% 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 Mid Cap Value Instl is part of the Equity global asset class and is within the U.S. Equity fund group. Empower Mid Cap Value Instl has 0.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.7%. There is 0.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Empower Mid Cap Value Instl has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $642 million average for the Mid-Cap Value 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.
MXKJX 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 Mid Cap Value Instl expense ratio is above average compared to funds in the Mid-Cap Value category. Empower Mid Cap Value Instl has an expense ratio of 0.70%, which is 32% 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 Mid Cap Value Instl has a portfolio turnover rate of 197%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.
Recently, in the month of July 2026, Empower Mid Cap Value Instl returned 2.9%, which earned it a grade of B, as the Mid-Cap Value category had an average return of 1.7%. 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 Mid Cap Value Instl has a trailing yield of 4.76%, which is above the 0.87% category average.
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 Mid Cap Value Instl Grades
Year to date, the fund has returned 18.0%, 2.5 percentage points better than the category, which translates into a grade of B. The fund has returned 26.2% over the past year (grade of B), 15.2% over the past three years (grade of B) and 10.3% per year over the past five years (grade of B) and 10.5% per year over the past 10 years (grade of B).
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MXKJX 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 |
|
| MXKJX Return (NAV) | 2.9% | 5.9% | 26.2% | 15.2% | 10.3% | 10.5% |
| MXKJX Grade | B | C | B | B | B | B |
| +/- Category | 1.2% | -0.1% | 3.1% | 1.8% | 1.0% | 0.3% |
| Mid-Cap Value Avg | 1.7% | 6.0% | 23.1% | 13.4% | 9.4% | 10.1% |
| MXKJX Tax Cost Ratio | na | na | 2.8% | 2.9% | 4.2% | 3.3% |
MXKJX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXKJX Return (NAV) | 18.0% | 8.7% | 16.1% | 15.5% | -11.5% | 30.7% | 0.0% | 20.8% | -12.0% | 17.5% | 20.8% |
| MXKJX Grade | B | C | A | B | F | B | D | F | B | A | B |
| +/- Category | 2.5% | -1.2% | 4.3% | 1.7% | -3.4% | 3.3% | -3.8% | -5.5% | 1.4% | 3.3% | 3.4% |
| Mid-Cap Value Avg | 15.5% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 14.6% |
| Total Risk Index: | 1.19 - Above Average |
| Category Risk Index: | 1.00 - Above Average |
| Category Risk Grade: | D (61% Rank) |
| Beta: | 0.90 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.8% |
| Dividend Distribution: | |
| Cap Gains Distribution: | |
| Total Assets: | $1124 Mil |
| Fund Total Assets: | $1,002 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 197% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 14.8 years | |||
| Average Tenure: 9.5 years | |||
| Managers (Year): Ioffe Len (2011), Ali Osman (2013), Walsh Dennis (2013), Suwabe Takashi (2021), Srinivasan Sharanya (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 187 |
| % in Top 10 Holdings: | 12.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.3% |
Portfolio Allocation |
|
| Domestic Stock: | 99.7% |
| Foreign Stock: | 0.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Empower Funds |
| Phone Number: | 866-831-7129 |
| Website: | www.greatwestfunds.com |
| Status: | Open |
| Inception Date: | May 1, 2015 |
| 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 (%): | 0.70% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Empower Mid Cap Value Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
