Empower Bond Index Fund
EMPOWER FUNDS, INC. · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Empower Bond Index Fund is a U.S. bond index fund that tracks the Bloomberg U.S. Aggregate Bond Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q2
The Fund seeks investment results that track the total return of the debt securities that comprise the Bloomberg U.S. Aggregate Bond Index (the Benchmark Index).
The fund tracks the Bloomberg U.S. Aggregate Bond Index using sampling techniques to hold a limited number of securities expected to replicate the index's performance across sector, yield, duration, credit quality, and spread. The index comprises over 12,000 investment-grade debt securities including corporates, government bonds, and mortgage-backed securities. Because the fund samples rather than holds all index constituents, its returns may diverge from the index. Day-to-day portfolio management is delegated to Franklin Advisers, Inc. and Franklin Advisory Services, LLC, with oversight by the adviser Empower Capital Management, LLC.
| Share class | Expense ratio |
|---|---|
| MXBIX | 0.49% |
| MXCOX | 0.13% |
Portfolio turnover 21.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 72.31% |
| Securitized | 26.37% |
| Cash & short-term | 4.67% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 47.7% |
| Securitized | 23.6% |
| Financials | 5.4% |
| Cash | 4.5% |
| 12 smaller | 18.8% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×2, MUFG BANK LTD NEW YORK BRANCH, TOTALENERGIES CAPITAL USA LLC, FAIRWAY FINANCE COMPANY LLC ×2, CATERPILLAR INC, Canadian Imperial Bank of Commerce
Largest exited: United States Treasury Notes ×5, United States Treasury Bonds, Wells Fargo & Co., Federal National Mortgage Association
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +3.56% | +9.10% | -3.26% | 3.49% | -6.42% | |
| +4.00% | +10.18% | -1.73% | 3.54% | -6.29% |
These classes hold the same portfolio, so the 1.54pp spread over 5 years is the cost difference between them — roughly 0.31pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 97.4% |
| Zero-coupon or unclassified | 2.0% |
| Floating rate | 0.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.9% |
| 1-3y | 16.8% |
| 3-5y | 16.9% |
| 5-10y | 19.1% |
| 10y+ | 42.2% |
| Unknown | 0.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 65% |
| Credit spreads | 35% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.78 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.42 yr | 8% |
| 5 yr | 1.58 yr | 30% |
| 10 yr | 2.01 yr | 38% |
| 30 yr | 1.22 yr | 23% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.13 yr | 5% |
| 5 yr | 0.88 yr | 32% |
| 10 yr | 1.35 yr | 48% |
| 30 yr | 0.43 yr | 15% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $1.8k | $0 |
| 1 yr | +0.42 | +0.13 | +0.00 | $65.0k | $0 |
| 5 yr | +1.58 | +0.88 | +0.00 | $453.9k | $0 |
| 10 yr | +2.01 | +1.35 | +0.00 | $696.8k | $0 |
| 30 yr | +1.22 | +0.43 | +0.00 | $220.0k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.63% · due 2055-11-15 | 1.57% | $81.21M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · due 2031-02-28 | 1.51% | $78.40M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT1.63% · due 2029-08-15 | 1.29% | $66.80M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.88% · due 2030-11-15 | 1.11% | $57.33M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.38% · due 2033-05-15 | 1.10% | $57.20M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.13% · due 2029-06-15 | 1.08% | $56.19M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.00% · due 2032-07-31 | 1.00% | $51.58M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.88% · due 2029-12-31 | 0.94% | $48.52M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.50% · due 2027-06-30 | 0.93% | $47.90M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.63% · due 2030-05-15 | 0.84% | $43.55M | — |
Top 10 positions are 11.37% of net assets, top 25 21.59%, across 615 issuers.
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