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Empower Funds, Inc. is an investment company that offers a diverse range of mutual funds spanning various asset classes and investment strategies, including both active and passive options, target date funds and guaranteed income funds. With a history of over three decades in the industry, it boasts a portfolio of more than 40 mutual funds under the supervision of Empower Capital Management, LLC (ECM) managing assets exceeding $125 billion as of Sep 30, 2023. These mutual funds are overseen by sub-advisors based on their expertise and their proven track record further solidifies their position as a reliable choice for investments.
Investing in Empower mutual funds seems to be judicious as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have, thus, chosen three Empower mutual funds that investors should buy now for the long term. These funds possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and expense ratios considerably lower than the category average. So, these funds have provided a comparatively strong performance along with lower fees.
Empower Small Cap Value Inv (MXLSX - Free Report) invests in equity securities of small-cap companies. MXLSX advisors categorize small-cap companies based on their market capitalization, aligning with the range defined by the Russell 2000 Value Index during the initial acquisition.
Joseph R. Gatz has been the lead manager of MXLSX since Dec 30, 2000. Most of the fund's holdings were in companies like Weatherford International plc (1.8%), Vontier Corp (1.4%) and Moog Inc. (1.2%) as of Dec 31, 2023.
MXLSX's 3-year and 5-year annualized returns are 4.4% and 9.1%, respectively. Its net expense ratio is 1.09%. MXLSX has a Zacks Mutual Fund Rank #1.
Empower Large Cap Value Inv (MXEQX - Free Report) invests most of its assets along with borrowings in equity securities of large-cap companies.
John D. Linehan has been the lead manager of MXEQX since Oct 31, 2015. Most of the fund's holdings were in companies like QUALCOMM Inc (2.7%), Exxon Mobil Corp (2.5%) and Microsoft Corp (2.3%) as of Mar 31, 2024.
MXEQX's 3-year and 5-year annualized returns are 8.6% and 12.7%, respectively. Its net expense ratio is 0.96%. MXEQX has a Zacks Mutual Fund Rank #1.
Empower Large Cap Growth Inv (MXLGX - Free Report) fund invests in equity securities of large-cap companies. MXLGX advisors also choose to invest in foreign securities.
Giri K Devulapally has been the lead manager of MXLGX since Aug 31, 2013. Most of the fund's holdings were in companies like Microsoft Corp (9%), Amazon.com, Inc. (7.4%) and Alphabet Inc. (5%) as of Mar 31, 2024.
MXLGX's 3-year and 5-year annualized returns are 10.4% and 18.3%, respectively. Its net expense ratio is 0.98%. MXLGX has a Zacks Mutual Fund Rank #2.
To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
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3 Empower Mutual Funds to Buy for Solid Returns
Empower Funds, Inc. is an investment company that offers a diverse range of mutual funds spanning various asset classes and investment strategies, including both active and passive options, target date funds and guaranteed income funds. With a history of over three decades in the industry, it boasts a portfolio of more than 40 mutual funds under the supervision of Empower Capital Management, LLC (ECM) managing assets exceeding $125 billion as of Sep 30, 2023. These mutual funds are overseen by sub-advisors based on their expertise and their proven track record further solidifies their position as a reliable choice for investments.
Investing in Empower mutual funds seems to be judicious as of now. Also, mutual funds, in general, diversify portfolios without several commission charges that are mainly associated with stock purchases and trim transaction costs (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have, thus, chosen three Empower mutual funds that investors should buy now for the long term. These funds possess a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns, minimum initial investments within $5000, and expense ratios considerably lower than the category average. So, these funds have provided a comparatively strong performance along with lower fees.
Empower Small Cap Value Inv (MXLSX - Free Report) invests in equity securities of small-cap companies. MXLSX advisors categorize small-cap companies based on their market capitalization, aligning with the range defined by the Russell 2000 Value Index during the initial acquisition.
Joseph R. Gatz has been the lead manager of MXLSX since Dec 30, 2000. Most of the fund's holdings were in companies like Weatherford International plc (1.8%), Vontier Corp (1.4%) and Moog Inc. (1.2%) as of Dec 31, 2023.
MXLSX's 3-year and 5-year annualized returns are 4.4% and 9.1%, respectively. Its net expense ratio is 1.09%. MXLSX has a Zacks Mutual Fund Rank #1.
Empower Large Cap Value Inv (MXEQX - Free Report) invests most of its assets along with borrowings in equity securities of large-cap companies.
John D. Linehan has been the lead manager of MXEQX since Oct 31, 2015. Most of the fund's holdings were in companies like QUALCOMM Inc (2.7%), Exxon Mobil Corp (2.5%) and Microsoft Corp (2.3%) as of Mar 31, 2024.
MXEQX's 3-year and 5-year annualized returns are 8.6% and 12.7%, respectively. Its net expense ratio is 0.96%. MXEQX has a Zacks Mutual Fund Rank #1.
Empower Large Cap Growth Inv (MXLGX - Free Report) fund invests in equity securities of large-cap companies. MXLGX advisors also choose to invest in foreign securities.
Giri K Devulapally has been the lead manager of MXLGX since Aug 31, 2013. Most of the fund's holdings were in companies like Microsoft Corp (9%), Amazon.com, Inc. (7.4%) and Alphabet Inc. (5%) as of Mar 31, 2024.
MXLGX's 3-year and 5-year annualized returns are 10.4% and 18.3%, respectively. Its net expense ratio is 0.98%. MXLGX has a Zacks Mutual Fund Rank #2.
To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
Want key mutual fund info delivered straight to your inbox?
Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>