Empower Lifetime 2035 Fund
Target-date 2035 fund
As of its 2026 Q2 report, Empower Lifetime 2035 Fund held 22 positions with $2.10B in net assets. Its ten largest holdings made up 71.7% of the fund. The MXLLX share class costs 0.93% a year. Over the 12 months to May 2026, MXLLX returned 18.6%, with dividends reinvested. In 2026 Q2 it added no new positions and exited none.
The Fund seeks capital appreciation and income consistent with its current asset allocation. After 2035, the Fund seeks income and secondarily, capital growth .
The fund is a fund-of-funds that invests in a mix of underlying mutual funds and a fixed annuity contract, with allocations that shift progressively toward more conservative holdings as the target date of 2035 approaches and passes. The fund's glide path reduces equity exposure over time in favor of fixed income and capital preservation, reflecting a transition from growth to income as the investor nears and enters retirement. The adviser reviews and may tactically adjust the asset allocation quarterly or more frequently based on market outlook. Because the fund's returns depend on the performance of the underlying funds it selects, divergence from target allocations may occur between rebalancing periods.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
MXKWXEMPOWER FUNDS INC | 23.42% | $492.16M | 42.2M | $11.66 |
MXCOXEMPOWER FUNDS INC | 8.24% | $173.14M | 20.8M | $8.34 |
MXPBXEMPOWER FUNDS INC | 7.87% | $165.29M | 11.5M | $14.32 |
MXVHXEMPOWER FUNDS INC | 5.23% | $109.89M | 14.2M | $7.74 |
MXIUXEMPOWER FUNDS INC | 4.95% | $104.01M | 12.2M | $8.56 |
MXGSXEMPOWER FUNDS INC | 4.85% | $101.96M | 7.9M | $12.95 |
MXUGXEMPOWER FUNDS INC | 4.63% | $97.28M | 11.6M | $8.38 |
EMPOWER 0.00% · due 2026-07-01 | 4.31% | $90.49M | — | — |
MXJVXEMPOWER FUNDS INC | 4.15% | $87.29M | 7.9M | $11.11 |
MXKJXEMPOWER FUNDS INC | 4.05% | $85.11M | 8.9M | $9.60 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 22 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 67.81% |
| Bonds | 24.00% |
| Securitized | 7.38% |
| Derivatives | 2.48% |
| 2 smaller | 1.67% |
Look-through blends 20 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
How it has done
MXLLX share class · total returns with dividends reinvested
Volatility over the last 12 months: 9.08%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.93% | +18.60% | +47.47% | +32.30% | -8.62% | |
| 0.83% | +18.66% | +47.78% | +32.92% | -8.57% | |
| 0.48% | +18.93% | +49.37% | +34.83% | -8.58% |
These classes hold the same portfolio, so the 2.53pp spread over 5 years is the cost difference between them — roughly 0.51pp a year — not a difference in what they own.
Fees & fund details
Empower Lifetime 2035 Fund is a target-date 2035 fund.
- Asset class
- Target-date
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Target year
- 2035
- Features
- Non-diversified · Fund of funds
- Expense ratio, by class
- 0.48% – 0.93%· MXLLX 0.93%
- Portfolio turnover
- 37.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
0 new
0 exited
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 | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — MXLLX, QQQ and the fund in my 401(k)?”
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