Morningstar

Empower Lifetime 2040 Fund Service Class MXBEX

Medalist Rating as of Aug 31, 2026 See Empower Investment Hub

Strategy

The investment seeks capital appreciation and income consistent with its current asset allocation; after 2040, it seeks income and secondarily, capital growth. The fund seeks to achieve its objective by investing in a professionally selected mix of underlying funds that is tailored for investors planning to retire in (or otherwise begin using the invested funds on), or close to, 2040 (which is assumed to be at age 65). It is designed for investors who plan to withdraw the value of their account in the fund gradually after retirement. While the fund is non-diversified, it invests in diversified underlying holdings.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
MXBEX	Empower Lifetime 2040 Fund Service Class	No Load	Open			Apr 28, 2016	$23.25M	0.950%	High	$0	−$4.74M
MXBDX	Empower Lifetime 2040 Fund Investor Class	No Load	Open			Apr 29, 2016	$1.07B	0.850%	High	$0	$252.07M
MXBGX	Empower Lifetime 2040 Fund Institutional Class	Institutional	Open			Apr 28, 2016	$25.89M	0.500%	Above Average	$0	−$38.22M

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