Fund Evaluator:
Empower SecureFoundation® Bal ETF A (SFBPX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Empower SecureFoundation® Bal ETF A Overview
Empower SecureFoundation® Bal ETF A (SFBPX) is an actively managed Allocation Moderate Allocation fund. Empower Funds launched the fund in 2012.
The investment seeks long-term capital appreciation and income. The fund normally invests 45-65% of its net assets (plus the amount of any borrowings for investment purposes) in underlying ETFs that invest primarily in equity securities and 35-55% of its net assets (plus the amount of any borrowings for investment purposes) in underlying ETFs that invest primarily in fixed income securities.
About Empower SecureFoundation® Bal ETF A (SFBPX)
There are 2 members of the management team with an average tenure of 10.34 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 SecureFoundation® Bal ETF A has 7 securities in its portfolio. The top 10 holdings constitute 100.0% 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 SecureFoundation® Bal ETF A is part of the Allocation global asset class and is within the Allocation fund group. Empower SecureFoundation® Bal ETF A has 20.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 40.4%. There is 18.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 38.3% (35.6% domestic bond, 2.8% foreign bond and 0.0% convertible bond). Empower SecureFoundation® Bal ETF A has 3.2% of the portfolio in cash.
Assets Under Management
The fund has $16 million in total assets, which is below the $2 billion average for the 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.
SFBPX 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 SecureFoundation® Bal ETF A expense ratio is below average compared to funds in the Moderate Allocation category. Empower SecureFoundation® Bal ETF A has an expense ratio of 0.27%, which is 73% 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 SecureFoundation® Bal ETF A has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of August 2026, Empower SecureFoundation® Bal ETF A returned 1.4%, which earned it a grade of C, as the Moderate Allocation category had an average return of 1.4%. 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 SecureFoundation® Bal ETF A has a trailing yield of 2.55%, which is above the 1.95% category average. The fund normally distributes its income none 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 SecureFoundation® Bal ETF A Grades
Year to date, the fund has returned 8.9%, 1.0 percentage points better than the category, which translates into a grade of B. The fund has returned 13.7% over the past year (grade of B), 12.7% over the past three years (grade of D) and 5.8% per year over the past five years (grade of D) and 7.8% per year over the past 10 years (grade of D).
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SFBPX 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 |
|
| SFBPX Return (NAV) | 1.4% | 0.7% | 13.7% | 12.7% | 5.8% | 7.8% |
| SFBPX Grade | C | D | B | D | D | D |
| +/- Category | -0.1% | -0.5% | 1.1% | -0.4% | -0.8% | -0.8% |
| Moderate Allocation Avg | 1.4% | 1.2% | 12.6% | 13.1% | 6.6% | 8.6% |
| SFBPX Tax Cost Ratio | na | na | 2.4% | 2.1% | 2.3% | 2.2% |
SFBPX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SFBPX Return (NAV) | 8.9% | 14.5% | 9.0% | 13.8% | -14.9% | 10.2% | 13.4% | 18.9% | -5.8% | 13.7% | 8.7% |
| SFBPX Grade | B | B | F | C | C | F | C | D | D | C | B |
| +/- Category | 1.0% | 1.1% | -3.3% | -0.5% | -0.9% | -4.1% | 0.5% | -0.9% | -0.7% | -0.1% | 1.0% |
| Moderate Allocation Avg | 8.0% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 9.2% |
| Total Risk Index: | 0.76 - Below Average |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (56% Rank) |
| Beta: | 0.99 |
| R-Squared: | 97% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.6% |
| Dividend Distribution: | None |
| Cap Gains Distribution: | Semi-Monthly |
| Total Assets: | $16 Mil |
| Fund Total Assets: | $ 16 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 11% |
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: | 7 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.8% |
Portfolio Allocation |
|
| Domestic Stock: | 40.4% |
| Foreign Stock: | 18.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 35.6% |
| Foreign Bond: | 2.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 3.2% |
Purchase Information
| Fund Family: | Empower Funds |
| Phone Number: | 866-831-7129 |
| Website: | www.greatwestfunds.com |
| Status: | Closed |
| Inception Date: | January 23, 2012 |
| 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 (%): | 0.27% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Empower SecureFoundation® Bal ETF A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
