Fund Evaluator:
Empower Conservative Profile Instl (MXKVX)
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Best Performing in Global Conservative Allocation Over the Last Year
| 22.9% | Lincoln Inflation Plus A (LFTAX) |
| 9.3% | TOPS® Conservative ETF 2 () |
| 8.7% | Victory Cornerstone Conservative (USCCX) |
| 8.6% | Fidelity Asset Manager 20% (FASIX) |
| 8.5% | Fidelity Advisor Asset Manager 20% Z (FIKVX) |
Fund Details
Empower Conservative Profile Instl Overview
Empower Conservative Profile Instl (MXKVX) is an actively managed Allocation Global Conservative Allocation fund. Empower Funds launched the fund in 2015.
The investment seeks capital preservation primarily through investments in funds that emphasize fixed income investments. The fund invests assets in funds according to the following asset allocation ranges: 0% to 15% of assets in equity international funds, 0% to 10% of assets in emerging markets funds, 0% to 15% of assets in small cap funds, 0% to 15% of assets in mid cap funds, 5% to 25% of assets in large cap funds, 0-10% of assets in real estate, 30% to 50% of assets in fixed income bond funds and 20% to 40% of assets in short term bond funds. While the fund is non-diversified, it invests in diversified underlying holdings.
About Empower Conservative Profile Instl (MXKVX)
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: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Empower Conservative Profile Instl has 18 securities in its portfolio. The top 10 holdings constitute 81.6% 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 Conservative Profile Instl is part of the Allocation global asset class and is within the Allocation fund group. Empower Conservative Profile Instl has 15.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 22.0%. There is 7.9% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 43.0% (35.1% domestic bond, 7.9% foreign bond and 0.9% convertible bond). Empower Conservative Profile Instl has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $117 million in total assets, which is below the $272 million average for the Global Conservative 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.
MXKVX 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 Conservative Profile Instl expense ratio is average compared to funds in the Global Conservative Allocation category. Empower Conservative Profile Instl has an expense ratio of 0.41%, which is 60% 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 Conservative Profile Instl has a portfolio turnover rate of 9%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 49% for the Global Conservative Allocation category.
Recently, in the month of July 2026, Empower Conservative Profile Instl returned -0.2%, which earned it a grade of A, as the Global Conservative Allocation category had an average return of -0.6%. 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 Conservative Profile Instl has a trailing yield of 2.15%, which is below the 3.59% 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 Conservative Profile Instl Grades
Year to date, the fund has returned 4.3%, 1.1 percentage points better than the category, which translates into a grade of A. The fund has returned 8.5% over the past year (grade of A), 7.2% over the past three years (grade of B) and 3.5% per year over the past five years (grade of A) and 4.9% per year over the past 10 years (grade of A).
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MXKVX 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 |
|
| MXKVX Return (NAV) | -0.2% | 1.3% | 8.5% | 7.2% | 3.5% | 4.9% |
| MXKVX Grade | A | A | A | B | A | A |
| +/- Category | 0.4% | 0.8% | 0.6% | 0.1% | 0.8% | 0.9% |
| Global Conservative Allocation Avg | -0.6% | 0.5% | 8.0% | 7.0% | 2.8% | 4.0% |
| MXKVX Tax Cost Ratio | na | na | 1.0% | 1.1% | 1.3% | 1.3% |
MXKVX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXKVX Return (NAV) | 4.3% | 8.7% | 5.5% | 8.6% | -9.7% | 6.6% | 8.6% | 11.9% | -2.8% | 7.7% | 6.7% |
| MXKVX Grade | A | D | C | C | A | A | C | B | C | B | A |
| +/- Category | 1.1% | -1.0% | 0.1% | 0.4% | 1.8% | 2.1% | 0.6% | 0.8% | 0.1% | 0.6% | 1.4% |
| Global Conservative Allocation Avg | 3.2% | 9.7% | 5.4% | 8.2% | -11.5% | 4.5% | 8.0% | 11.1% | -2.9% | 7.1% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 5.7% |
| Total Risk Index: | 0.46 - Low |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (52% Rank) |
| Beta: | 0.59 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Semi-Monthly |
| Total Assets: | $1800 Mil |
| Fund Total Assets: | $ 117 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 9% |
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: | 81.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 15.8% |
Portfolio Allocation |
|
| Domestic Stock: | 22.0% |
| Foreign Stock: | 7.9% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 35.1% |
| Foreign Bond: | 7.9% |
| Convertible Bond: | 0.9% |
| Other: | 22.5% |
| Cash: | 3.4% |
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 (%): | 0.41% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Empower Conservative Profile Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
