MXMSX Fees and Costs — Empower Small Cap Growth Fund, Institutional Class
Data updated: 2026-08-20
The net expense ratio is 0.84%: a 0.83% management fee plus 0.08% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $417K in broker commissions, 0.1863% of average net assets, and portfolio turnover was 70%.
MXMSX Fees and Expenses
Annual operating expenses and sales charges of MXMSX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.83% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.91% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.84% |
| 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 |
MXMSX Costs Over Time
On $10,000 invested in MXMSX, assuming 5% a year before costs, total costs come to $642 over 5 years, cutting the return by 1.08% 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 0.84%) | $88 | $275 | $477 |
| Trading costs (broker commissions) | $20 | $61 | $106 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $353 | $642 |
| Value after costs | $10,392 | $11,223 | $12,121 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
MXMSX 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): 0.1863%
- Total broker commissions: $417K
- Bought from dealers (principal trades, not a cost): $12.5M
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $9.4M
- Net income from securities lending: $34K (0.015% of average net assets)
MXMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $52K | 17.99% |
| BARCLAYS CAPITAL INC | $33K | 11.35% |
| JEFFERIES LLC | $32K | 11.10% |
| ROBERT W. BAIRD & CO. INC | $32K | 11.03% |
| RAYMOND JAMES & ASSOCIATES, INC | $28K | 9.60% |
| PIPER SANDLER & CO | $26K | 8.94% |
| D.A. DAVIDSON & CO | $25K | 8.59% |
| UBS SECURITIES LLC | $24K | 8.18% |
| STEPHENS INC | $23K | 8.15% |
| TD SECURITIES (USA) LLC | $15K | 5.06% |
MXMSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $1.6M | 19.91% |
| JEFFERIES LLC | $1.1M | 13.86% |
| BARCLAYS CAPITAL INC | $886K | 10.73% |
| ROBERT W. BAIRD & CO. INC | $793K | 9.61% |
| PIPER SANDLER & CO | $763K | 9.25% |
| RAYMOND JAMES & ASSOCIATES, INC | $738K | 8.94% |
| UBS SECURITIES LLC | $688K | 8.34% |
| D.A. DAVIDSON & CO | $617K | 7.48% |
| STEPHENS INC | $585K | 7.09% |
| TD SECURITIES (USA) LLC | $397K | 4.80% |
Empower Small Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MXMSX | Institutional Class | 0.84% | — |
| MXMTX | Investor Class | 1.19% | — |
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.