MXLSX Fees and Costs — Empower Small Cap Value Fund, Investor Class
Data updated: 2026-08-20
The net expense ratio is 1.09%: a 0.71% management fee plus 0.42% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $478K in broker commissions, 0.0872% of average net assets, and portfolio turnover was 46%.
MXLSX Fees and Expenses
Annual operating expenses and sales charges of MXLSX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.09% |
| 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 |
MXLSX Costs Over Time
On $10,000 invested in MXLSX, assuming 5% a year before costs, total costs come to $734 over 5 years, cutting the return by 1.24% 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 1.09%) | $114 | $356 | $617 |
| Trading costs (broker commissions) | $9 | $29 | $49 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $124 | $404 | $734 |
| Value after costs | $10,376 | $11,172 | $12,029 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
MXLSX 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): 0.0872%
- Total broker commissions: $478K
- Bought from dealers (principal trades, not a cost): $20.1M
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $12.4M
- Net income from securities lending: $61K (0.011% of average net assets)
MXLSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $95K | 27.07% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC | $53K | 15.09% |
| SANFORD C. BERNSTEIN & CO., LLC | $45K | 12.62% |
| UBS SECURITIES LLC | $26K | 7.38% |
| JEFFERIES LLC | $25K | 7.06% |
| MORGAN STANLEY & CO. LLC | $25K | 6.99% |
| GOLDMAN SACHS & CO. LLC | $22K | 6.32% |
| RBC CAPITAL MARKETS, LLC | $22K | 6.26% |
| JONESTRADING | $20K | 5.73% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $19K | 5.48% |
MXLSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $4.5M | 28.12% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC | $2.5M | 15.38% |
| SANFORD C. BERNSTEIN & CO., LLC | $2.4M | 14.62% |
| JEFFERIES LLC | $1.2M | 7.49% |
| MORGAN STANLEY & CO. LLC | $1.1M | 6.88% |
| UBS SECURITIES LLC | $1.1M | 6.76% |
| GOLDMAN SACHS & CO. LLC | $969K | 6.00% |
| RBC CAPITAL MARKETS, LLC | $892K | 5.52% |
| ANOS CAPITAL, LLC | $746K | 4.62% |
| LIQUIDNET, INC | $745K | 4.61% |
Empower Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MXTFX | Institutional Class | 0.74% | — |
| MXLSX | Investor Class | 1.09% | — |
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.