Empower Core Strategies: Flexible Bond Fund

C000204661 Fund Overview

Empower Core Strategies: Flexible Bond Fund is a US mutual fund managed by Empower Funds, Inc., categorised as Long Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Empower Funds, Inc.
• Category: Long Total / Aggregate Bond
• Assets under management: $1.29B
• 1-year return: 8.2%
• SEC CIK: 0000356476
• SEC series ID: S000061889
• Share class ID: C000204661

C000204661 Investment Objective and Strategy

Empower Core Strategies: Flexible Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Empower Funds, Inc..

Investment objective

The Fund seeks to provide total return, consisting of two components: (1) changes in the market value of its portfolio holdings (both realized and unrealized appreciation); and (2) income received from its portfolio holdings.

Principal investment strategy

Below is a summary of the principal investment strategies of the Fund. The Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in a diversified portfolio of fixed income securities of any maturity and duration. The fixed income securities in which the Fund may invest include corporate bonds, U.S. government securities, mortgage- and asset-backed securities, Rule 144A fixed income securities and bank loans. The Fund primarily invests in investment grade securities but may also invest up to 35% of its total assets in below investment grade securities (commonly known as high yield securities or junk bonds). The Fund may invest up to 30% of its total assets in foreign fixed income securities, including emerging market securities, and the Fund may invest without limitation in obligations of supranational entities (e.g., the World Bank).

The Fund may enter into forward roll obligations on U.S. government securities, including mortgage dollar rolls and to-be-announced (TBA) securities. The Fund may also invest in derivatives, including but not limited to currency forwards and futures contracts on U.S. Treasury securities. Empower Capital Management, LLC (ECM) is the Funds investment adviser and, subject to the approval of the Board of Directors of Empower Funds (the Board), selects the Funds sub-adviser and monitors its performance on an ongoing basis. The Funds investment portfolio is managed by ECM and one sub-adviser: Loomis, Sayles & Company, L.P. (the Sub-Adviser or Loomis Sayles). ECM invests primarily in securities issued or guaranteed by the U.S. government or its agencies or instrumentalities. ECM combines a top-down or macroeconomic analysis of the fixed income markets together with bottom-up security-by-security fundamental research to identify relative value opportunities.

Loomis Sayles invests in fixed income securities that it believes are attractively valued based on the credit outlook of an issuer and maximum total return potential. ECM maintains a strategic allocation of the Funds assets with the Sub-Adviser and reviews the asset allocations on a quarterly basis, or more frequently as deemed necessary. As of the date of this Prospectus, the target asset allocation is a 50% allocation of the Funds assets to ECM and a 50% allocation of the Funds assets to Loomis Sayles. Actual allocations may vary from the target allocations and ECM may change the asset allocations at any time without shareholder notice or approval.

C000204661 Holdings

Top 10 holdings of Empower Core Strategies: Flexible Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000204661 holdings

C000204661 Portfolio Allocation

Asset-class allocation of Empower Core Strategies: Flexible Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000204661 Performance

Total returns for C000204661 (as of 2026-10-01), from SEC filings.

C000204661 Risk Information

Risk metrics for C000204661, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 3.0%

C000204661 Costs and Fees

C000204661 costs about $105 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.05%
• Gross expense ratio: 6.08%
• Portfolio turnover: 98%
• Brokerage commissions: 0.03 bps of average net assets (SEC N-CEN)

C000204661 Cashflows

Over the 12 months to 2026-06, Empower Core Strategies: Flexible Bond Fund had net inflows of $34.66M, from monthly SEC N-PORT filings.

C000204661 Debt Constituents

Largest debt holdings of Empower Core Strategies: Flexible Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000204661 Prospectus and SEC Filings

Official Empower Core Strategies: Flexible Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-04-30
• Prospectus (485BPOS) — filed 2025-04-25
• Prospectus (485BPOS) — filed 2024-04-25
• Portfolio holdings (N-PORT) — filed 2026-08-20
• Portfolio holdings (N-PORT) — filed 2026-02-13
• Annual census (N-CEN) — filed 2026-03-13
• Annual census (N-CEN) — filed 2025-03-14
• Annual census (N-CEN) — filed 2024-03-14

Related Funds

Other Long Total / Aggregate Bond funds tracked on ABC INVEST:

• Dodge & Cox Income Fund (DODIX)
• Bond Fund Of America (ABNDX)
• Fidelity U.S. Bond Index Fund (FUBFX)
• Baird Aggregate Bond Fund (BAGIX)
• PGIM Total Return Bond Fund (PDBAX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.