MXDQX Fees and Costs — Empower U.S. Government Securities Fund, Institutional Class
Data updated: 2026-08-20
The net expense ratio is 0.25%: a 0.23% management fee plus 0.04% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 95%.
MXDQX Fees and Expenses
Annual operating expenses and sales charges of MXDQX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.23% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.27% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.25% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MXDQX Costs Over Time
On $10,000 invested in MXDQX, assuming 5% a year before costs, total costs come to $159 over 5 years, cutting the return by 0.26% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.25%) | $26 | $83 | $144 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $26 | $87 | $159 |
| Value after costs | $10,474 | $11,490 | $12,604 |
| Impact on return, per year | 0.26% | 0.26% | 0.26% |
MXDQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 95%
- Securities on loan, average value: $4.4M
- Net income from securities lending: $3K (0.000% of average net assets)
MXDQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $311.6M | 28.86% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC | $239.6M | 22.19% |
| CITIGROUP GLOBAL MARKETS INC | $232.1M | 21.50% |
| J.P. MORGAN SECURITIES LLC | $118.4M | 10.97% |
| GOLDMAN SACHS & CO. LLC | $63.9M | 5.91% |
| SANTANDER SECURITIES | $41.7M | 3.86% |
| Nomura Securities International, Inc | $22.1M | 2.05% |
| BNP PARIBAS SECURITIES CORP. | $20.2M | 1.87% |
| MORGAN STANLEY & CO. LLC | $18.0M | 1.67% |
| DAIWA CAPITAL MARKETS AMERICA INC | $12.0M | 1.11% |
Empower U.S. Government Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MXDQX | Institutional Class | 0.25% | — |
| MXGMX | Investor Class | 0.60% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.