MXFRX Fees and Costs — Empower High Yield Bond Fund, Institutional Class
Data updated: 2026-08-20
The net expense ratio is 0.58%: a 0.55% management fee plus 0.10% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0003% of average net assets, and portfolio turnover was 57%.
MXFRX Fees and Expenses
Annual operating expenses and sales charges of MXFRX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.65% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.58% |
| 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 |
MXFRX Costs Over Time
On $10,000 invested in MXFRX, assuming 5% a year before costs, total costs come to $366 over 5 years, cutting the return by 0.61% 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 0.58%) | $61 | $191 | $332 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $61 | $200 | $366 |
| Value after costs | $10,439 | $11,376 | $12,397 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
MXFRX 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): 0.0003%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $638.4M
- Portfolio turnover (prospectus): 57%
- Securities on loan, average value: $27.1M
- Net income from securities lending: $214K (0.030% of average net assets)
MXFRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $2K | 88.45% |
| CITIGROUP GLOBAL MARKETS INC | $156 | 7.34% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC | $88 | 4.12% |
| RBC CAPITAL MARKETS, LLC | $2 | 0.09% |
MXFRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC | $150.6M | 25.85% |
| J.P. MORGAN SECURITIES LLC | $111.5M | 19.14% |
| GOLDMAN SACHS & CO. LLC | $91.6M | 15.72% |
| MORGAN STANLEY & CO. LLC | $79.4M | 13.63% |
| CITIGROUP GLOBAL MARKETS INC | $42.1M | 7.22% |
| BARCLAYS CAPITAL INC | $40.7M | 6.99% |
| WELLS FARGO SECURITIES, LLC | $29.9M | 5.14% |
| JEFFERIES LLC | $15.1M | 2.60% |
| DEUTSCHE BANK SECURITIES INC | $11.2M | 1.92% |
| UBS SECURITIES LLC | $10.4M | 1.79% |
Empower High Yield Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MXFRX | Institutional Class | 0.58% | — |
| MXHYX | Investor Class | 0.93% | — |
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.