Empower Lifetime 2035 Fund
EMPOWER FUNDS, INC. · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q2
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.
| Share class | Gross | Net |
|---|---|---|
| MXLLX | 0.95% | 0.93% |
| MXKLX | 0.85% | 0.83% |
| MXTBX | 0.50% | 0.48% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 37.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Latest quarter
What changed since the fund's previous filing
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 |
|---|---|---|---|---|---|
| +19.64% | +41.41% | +30.60% | 9.24% | -8.62% | |
| +19.78% | +41.71% | +31.16% | 9.28% | -8.57% | |
| +20.20% | +43.17% | +33.05% | 9.20% | -8.58% |
These classes hold the same portfolio, so the 2.45pp spread over 5 years is the cost difference between them — roughly 0.49pp 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 | 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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| MXKWX | EMPOWER FUNDS INCMXKWX | 23.42% | $11.66 | $492.16M | 42.2M |
| MXCOX | EMPOWER FUNDS INCMXCOX | 8.24% | $8.34 | $173.14M | 20.8M |
| MXPBX | EMPOWER FUNDS INCMXPBX | 7.87% | $14.32 | $165.29M | 11.5M |
| MXVHX | EMPOWER FUNDS INCMXVHX | 5.23% | $7.74 | $109.89M | 14.2M |
| MXIUX | EMPOWER FUNDS INCMXIUX | 4.95% | $8.56 | $104.01M | 12.2M |
| MXGSX | EMPOWER FUNDS INCMXGSX | 4.85% | $12.95 | $101.96M | 7.9M |
| MXUGX | EMPOWER FUNDS INCMXUGX | 4.63% | $8.38 | $97.28M | 11.6M |
| — | EMPOWER0.00% · due 2026-07-01 | 4.31% | — | $90.49M | — |
| MXJVX | EMPOWER FUNDS INCMXJVX | 4.15% | $11.11 | $87.29M | 7.9M |
| MXKJX | EMPOWER FUNDS INCMXKJX | 4.05% | $9.60 | $85.11M | 8.9M |
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.
Top 10 positions are 71.70% of net assets, top 25 100.04%, across 4 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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