Fund Evaluator:
Empower Large Cap Value Instl (MXVHX)
Follow This Fund
Best Performing in Large Value Over the Last Year
| 37.5% | American Beacon Man Lg Cp Value Inv (BWLIX) |
| 35.3% | Voya Corporate Leaders Trust B (LEXCX) |
| 33.6% | LSV Conservative Value Equity Investor (LVAVX) |
| 33.6% | PGIM Quant Solutions Large-Cap Val Z (SUVZX) |
| 32.9% | Fidelity Advisor Blue Chip Value Z (FFVPX) |
Fund Details
Empower Large Cap Value Instl Overview
Empower Large Cap Value Instl (MXVHX) is an actively managed U.S. Equity Large Value fund. Empower Funds launched the fund in 2015.
The investment seeks capital growth and current income. The fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of large capitalization (“large cap”) companies. If the market capitalization of a company held by the fund moves outside this range, it may, but is not required to, sell the securities.
About Empower Large Cap Value Instl (MXVHX)
There are 3 members of the management team with an average tenure of 10.59 years: Darren Jaroch (2012), Lauren DeMore (2019), John Linehan (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Empower Large Cap Value Instl has 162 securities in its portfolio. The top 10 holdings constitute 20.7% 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 Large Cap Value Instl is part of the Equity global asset class and is within the U.S. Equity fund group. Empower Large Cap Value Instl has 7.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.6%. There is 7.2% allocated to foreign stock, and 0.2% 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 Large 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 $1 billion average for the Large 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.
MXVHX 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 Large Cap Value Instl expense ratio is above average compared to funds in the Large Value category. Empower Large Cap Value Instl has an expense ratio of 0.60%, which is 35% 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 Large Cap Value Instl has a portfolio turnover rate of 27%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Large Value category.
Recently, in the month of August 2026, Empower Large Cap Value Instl returned 0.7%, which earned it a grade of D, as the Large Value category had an average return of 1.6%. 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 Large Cap Value Instl has a trailing yield of 1.83%, which is above the 1.17% 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 Large Cap Value Instl Grades
Year to date, the fund has returned 17.4%, 1.3 percentage points better than the category, which translates into a grade of B. The fund has returned 24.6% over the past year (grade of B), 19.5% over the past three years (grade of A) and 12.6% per year over the past five years (grade of A) and 12.7% per year over the past 10 years (grade of A).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Empower Large Cap Value Instl, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MXVHX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MXVHX Return (NAV) | 0.7% | 6.4% | 24.6% | 19.5% | 12.6% | 12.7% |
| MXVHX Grade | D | C | B | A | A | A |
| +/- Category | -0.8% | 0.2% | 3.0% | 2.2% | 1.9% | 1.4% |
| Large Value Avg | 1.6% | 6.2% | 21.6% | 17.3% | 10.7% | 11.4% |
| MXVHX Tax Cost Ratio | na | na | 2.7% | 3.3% | 3.4% | 3.4% |
MXVHX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXVHX Return (NAV) | 17.4% | 17.3% | 15.9% | 12.7% | -3.2% | 26.5% | 4.1% | 26.9% | -9.1% | 16.6% | 19.2% |
| MXVHX Grade | B | B | B | B | B | C | C | B | C | C | A |
| +/- Category | 1.3% | 2.2% | 1.7% | 0.9% | 2.9% | 0.8% | 0.2% | 1.3% | -0.7% | 0.1% | 4.7% |
| Large Value Avg | 16.1% | 15.1% | 14.1% | 11.8% | -6.1% | 25.7% | 3.9% | 25.6% | -8.5% | 16.5% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 11.2% |
| Total Risk Index: | 0.92 - Average |
| Category Risk Index: | 0.95 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 0.68 |
| R-Squared: | 62% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | |
| Cap Gains Distribution: | |
| Total Assets: | $2372 Mil |
| Fund Total Assets: | $1,922 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 27% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.9 years | |||
| Average Tenure: 10.6 years | |||
| Managers (Year): Jaroch Darren (2012), Linehan John (2015), DeMore Lauren (2019) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 162 |
| % in Top 10 Holdings: | 20.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.2% |
Portfolio Allocation |
|
| Domestic Stock: | 92.6% |
| Foreign Stock: | 7.2% |
| Preferred Stock: | 0.2% |
| 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 (%): | 0.60% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Empower Large Cap Value Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
