U.S. Total Return Bond Fund
THIS INFORMATION IS FOR MARKETING PURPOSES ONLY
Please note that this is an actively managed product.
Class Z shares ("Z") are only available to certain qualifying institutional investors.
U.S. Total Return Bond Fund
INVESTMENT OBJECTIVE
Seeks total return, measured in US dollars.
INVESTMENT FOCUS
Primarily investment-grade U.S. dollar bond fund that integrates macro, bottom-up, and quantitative perspectives in an effort to add value through sector allocation, security selection, and duration/yield curve decisions
This credit-biased portfolio has the flexibility to invest in all core investment-grade sectors as well as emerging markets and high-yield securities
Through a collaborative process, portfolio managers set the strategy's risk budget and work with analysts to select securities
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Bond: Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore, the portfolio's value may decline during rising rates. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.
Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.
High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 26-Sep-2005
- Net Assets (US$ M) As of 31-Mar-25 US$1125.87
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark Bloomberg U.S. Aggregate Bond Index
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 23-Apr-25 $185.73
- Most Recent NAV Change As of 23-Apr-25 $0.52 | 0.28%
- ISIN LU2971678474
- SEDOL BT8SCQ8
- WKN A40Z23
- Bloomberg MFSUTZ1 LX
- CUSIP L6367C559
- Maximum Sales Charge --
- Benchmark Bloomberg U.S. Aggregate Bond Index
MANAGERS
Top 10 Holdings
- UST Bond 2Yr Future JUN 30 25
- US Treasury Note 4.25% JUN 30 29
- US Treasury Note 4% JAN 15 27
- US Treasury Note 3.875% DEC 31 27
- UMBS 30 Year 2.5
- US Treasury Bond 4.5% FEB 15 44
- US Treasury Bond 4% NOV 15 42
- UMBS 30 Year 2.0
- US Treasury Bond 4.375% AUG 15 43
- US Treasury Bond 4.25% FEB 15 54
Alexander Mackey, CFA
Portfolio Manager
Alexander M. Mackey, CFA, is co-chief investment officer of Fixed Income at MFS Investment Management® (MFS®). As co-CIO, he has joint oversight of MFS' global fixed income team and works collaboratively with the firm's investment leadership team to ensure its fixed income investors have the tools and skill sets necessary to serve clients globally. He is also a fixed income portfolio manager on several strategies, including the firm's multisector fixed income strategies, with oversight of dedicated US credit portfolios. Alexander assumed his current role in 2023. Prior to taking on portfolio management responsibilities in 2017, he worked as a credit research analyst for 13 years and a fixed income research associate for three years. He joined MFS as a financial control assistant in 1998. Alexander has a bachelor's degree from Trinity College and holds the Chartered Financial Analyst (CFA) designation. He is a member of CFA Society Boston.
Joshua Marston
Portfolio Manager
Joshua P. Marston is an investment officer and director of Fixed Income -- North America at MFS Investment Management® (MFS®). In this role, he is responsible for oversight of MFS' US and Canadian domiciled fixed income portfolio management team, as well as portfolio management responsibilities across MFS' US and Canadian multi-sector strategies. In addition, he serves on the Fixed Income department's Risk/Opportunities Committee and chairs the department's Macro/Micro Forum as well. Josh joined MFS in 1999 as a credit analyst and was named portfolio manager and head of Structured Product Research in 2002. In 2005, he was named director of Structured Products and Financials Research and joined the Fixed Income Management Committee. He was named director of Fixed Income in 2011 and director of Fixed Income -- North America in 2017. Josh earned a Bachelor of Science degree from Boston University and a Master of Science degree from the Massachusetts Institute of Technology.
Rob Hall
Institutional Portfolio Manager
Robert M. Hall is an investment officer and institutional fixed income portfolio manager at MFS Investment Management® (MFS®). In this role, he participates in the research process and strategy discussions, customizes portfolios to meet client objectives and communicates the portfolios' investment policy, strategy, and tactics. Robert has served in a variety of roles since joining MFS in 1994, including institutional marketing and client service. From 2000 to 2009, he was the product specialist for the firm's Luxembourg-registered SICAV funds, covering both equity and fixed income strategies. Since 2009, he has been part of the fixed income investment team, working on a wide range of strategies. His current focus is US multisector. Robert earned a bachelor's degree from Gordon College and a bachelor's degree and a master's degree in education from the University of Massachusetts Lowell.
Performance
12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-Mar-25 [updated monthly]| 12 month period ending: |
31-Mar-21
or Life
|
31-Mar-22 | 31-Mar-23 | 31-Mar-24 | 31-Mar-25 | YTD % | Class Inception |
|---|---|---|---|---|---|---|---|
| Class Z1 Shares, US Dollars at NAV | 6.46 | -3.65 | -5.43 | 2.88 | 5.28 | 1.61 | 19-Feb-2025 |
| Bloomberg U.S. Aggregate Bond Index | 0.71 | -4.15 | -4.78 | 1.70 | 4.88 | - | - |
| 12 month period ending: | Class Z1 Shares, US Dollars at NAV | |
|---|---|---|
| 31-Mar-21 or Life | 6.46 | |
| 31-Mar-22 | -3.65 | |
| 31-Mar-23 | -5.43 | |
| 31-Mar-24 | 2.88 | |
| 31-Mar-25 | 5.28 | |
| YTD % | 1.61 | |
| Class Inception | 19-Feb-2025 | 19-Feb-2025 |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Average Annual Total Returns (%)
Average Annual Total Returns (%)
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Annual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: Bloomberg U.S. Aggregate Bond Index|
Life
|
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 3.28 | -0.46 | 3.63 | 4.40 | -1.16 | 9.97 | 8.88 | -0.82 | -13.96 | 6.90 | 2.13 |
| Bloomberg U.S. Aggregate Bond Index | - | 0.55 | 2.65 | 3.54 | 0.01 | 8.72 | 7.51 | -1.54 | -13.01 | 5.53 | 1.25 |
| At NAV | Bloomberg U.S. Aggregate Bond Index | |
|---|---|---|
| 2024 | 2.13 | 1.25 |
| 2023 | 6.9 | 5.53 |
| 2022 | -13.96 | -13.01 |
| 2021 | -0.82 | -1.54 |
| 2020 | 8.88 | 7.51 |
| 2019 | 9.97 | 8.72 |
| 2018 | -1.16 | 0.01 |
| 2017 | 4.4 | 3.54 |
| 2016 | 3.63 | 2.65 |
| 2015 | -0.46 | 0.55 |
| 3.28 | - |
Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Pricing History
- NAV at Close of Trading on: 23-Apr-25
- Net Asset Value (NAV): $185.73
- Change ($) (since 22-Apr-25): 0.52
- Change (%) (since 22-Apr-25): 0.28
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Distributions
-
Overview
INVESTMENT OBJECTIVE
Seeks total return, measured in US dollars.
INVESTMENT FOCUS
Primarily investment-grade U.S. dollar bond fund that integrates macro, bottom-up, and quantitative perspectives in an effort to add value through sector allocation, security selection, and duration/yield curve decisions
This credit-biased portfolio has the flexibility to invest in all core investment-grade sectors as well as emerging markets and high-yield securities
Through a collaborative process, portfolio managers set the strategy's risk budget and work with analysts to select securities
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Bond: Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore, the portfolio's value may decline during rising rates. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.
Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.
High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 26-Sep-2005
- Net Assets (US$ M) As of 31-Mar-25 US$1125.87
- Fiscal Year End JANUARY
- SFDR Classification Article 8
- Benchmark Bloomberg U.S. Aggregate Bond Index
Share Class Information
- Class Inception 19-Feb-2025
- Net Asset Value (NAV) As of 23-Apr-25 $185.73
- Most Recent NAV Change As of 23-Apr-25 $0.52 | 0.28%
- ISIN LU2971678474
- SEDOL BT8SCQ8
- WKN A40Z23
- Bloomberg MFSUTZ1 LX
- CUSIP L6367C559
- Maximum Sales Charge --
- Benchmark Bloomberg U.S. Aggregate Bond Index
MANAGERS
Top 10 Holdings
As of 31-Mar-25- UST Bond 2Yr Future JUN 30 25
- US Treasury Note 4.25% JUN 30 29
- US Treasury Note 4% JAN 15 27
- US Treasury Note 3.875% DEC 31 27
- UMBS 30 Year 2.5
- US Treasury Bond 4.5% FEB 15 44
- US Treasury Bond 4% NOV 15 42
- UMBS 30 Year 2.0
- US Treasury Bond 4.375% AUG 15 43
- US Treasury Bond 4.25% FEB 15 54
Alexander Mackey, CFA
Portfolio Manager
VIEW FULL PROFILE27YEARS WITH INDUSTRY
5YEARS WITH PORTFOLIOAlexander M. Mackey, CFA, is co-chief investment officer of Fixed Income at MFS Investment Management® (MFS®). As co-CIO, he has joint oversight of MFS' global fixed income team and works collaboratively with the firm's investment leadership team to ensure its fixed income investors have the tools and skill sets necessary to serve clients globally. He is also a fixed income portfolio manager on several strategies, including the firm's multisector fixed income strategies, with oversight of dedicated US credit portfolios. Alexander assumed his current role in 2023. Prior to taking on portfolio management responsibilities in 2017, he worked as a credit research analyst for 13 years and a fixed income research associate for three years. He joined MFS as a financial control assistant in 1998. Alexander has a bachelor's degree from Trinity College and holds the Chartered Financial Analyst (CFA) designation. He is a member of CFA Society Boston.
Joshua Marston
Portfolio Manager
33YEARS WITH INDUSTRY
15YEARS WITH PORTFOLIOJoshua P. Marston is an investment officer and director of Fixed Income -- North America at MFS Investment Management® (MFS®). In this role, he is responsible for oversight of MFS' US and Canadian domiciled fixed income portfolio management team, as well as portfolio management responsibilities across MFS' US and Canadian multi-sector strategies. In addition, he serves on the Fixed Income department's Risk/Opportunities Committee and chairs the department's Macro/Micro Forum as well. Josh joined MFS in 1999 as a credit analyst and was named portfolio manager and head of Structured Product Research in 2002. In 2005, he was named director of Structured Products and Financials Research and joined the Fixed Income Management Committee. He was named director of Fixed Income in 2011 and director of Fixed Income -- North America in 2017. Josh earned a Bachelor of Science degree from Boston University and a Master of Science degree from the Massachusetts Institute of Technology.
Rob Hall
Institutional Portfolio Manager
31YEARS WITH INDUSTRY
15YEARS WITH PORTFOLIORobert M. Hall is an investment officer and institutional fixed income portfolio manager at MFS Investment Management® (MFS®). In this role, he participates in the research process and strategy discussions, customizes portfolios to meet client objectives and communicates the portfolios' investment policy, strategy, and tactics. Robert has served in a variety of roles since joining MFS in 1994, including institutional marketing and client service. From 2000 to 2009, he was the product specialist for the firm's Luxembourg-registered SICAV funds, covering both equity and fixed income strategies. Since 2009, he has been part of the fixed income investment team, working on a wide range of strategies. His current focus is US multisector. Robert earned a bachelor's degree from Gordon College and a bachelor's degree and a master's degree in education from the University of Massachusetts Lowell.
-
Performance
Performance
12 Month Total Returns12 Month Total Returns (%)
12 Month Total Returns (%)
As of 31-Mar-25 [updated monthly]12 month period ending: 31-Mar-21or Life31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 YTD % Class Inception Class Z1 Shares, US Dollars at NAV 6.46 -3.65 -5.43 2.88 5.28 1.61 19-Feb-2025 Bloomberg U.S. Aggregate Bond Index 0.71 -4.15 -4.78 1.70 4.88 - - 12 month period ending: Class Z1 Shares, US Dollars at NAV 31-Mar-21 or Life 6.46 31-Mar-22 -3.65 31-Mar-23 -5.43 31-Mar-24 2.88 31-Mar-25 5.28 YTD % 1.61 Class Inception 19-Feb-2025 19-Feb-2025 Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Average Annual Total ReturnsAverage Annual Total Returns (%)
Average Annual Total Returns (%)
Updated monthly as of 31-Mar-25Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Annual Rate of ReturnAnnual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: Bloomberg U.S. Aggregate Bond Indexannual rate of return table Life2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 3.28 -0.46 3.63 4.40 -1.16 9.97 8.88 -0.82 -13.96 6.90 2.13 Bloomberg U.S. Aggregate Bond Index - 0.55 2.65 3.54 0.01 8.72 7.51 -1.54 -13.01 5.53 1.25 At NAV Bloomberg U.S. Aggregate Bond Index 2024 2.13 1.25 2023 6.9 5.53 2022 -13.96 -13.01 2021 -0.82 -1.54 2020 8.88 7.51 2019 9.97 8.72 2018 -1.16 0.01 2017 4.4 3.54 2016 3.63 2.65 2015 -0.46 0.55 3.28 - Performance results reflect ongoing charges and any applicable expense subsidies and waivers in effect during the periods shown. All historic results assume distributions within the fund and/or the share class are reinvested.
Past performance is not a reliable indicator for future results. All financial investments involve an element of risk. The value of investments may rise and fall so you may get back less than originally invested.
Investors should consider the risks, including lower returns, related to currency movements between their investing currency and the portfolio's base currency, if different.
Important Performance Information
Class Z1 Roll-Up shares do not pay distributions to shareholders.
The investment management fee for Class Z shares is not reflected in performance. However, performance for periods prior to the start of the class performance record of the Class Z shares and prior to the fund's inception date reflects all fees paid within the oldest share class in the performance history.
The MFS Meridian Funds offer several share classes each with different expenses. Performance reflects the performance of a relevant older class with the same currency until the class inception date of the class detailed. Performance for periods prior to that date may have been higher or lower had the actual share class fees and expenses been reflected.
Pricing & DistributionsPricing History
- NAV at Close of Trading on: 23-Apr-25
- Net Asset Value (NAV): $185.73
- Change ($) (since 22-Apr-25): 0.52
- Change (%) (since 22-Apr-25): 0.28
- Market Price (MP):
Maximum data displayed is for the most recent 10 yearsHistorical NAV LookupEnter date for which you wish to obtain a Historical NAV for this fundHistorical NAV may not be available for all dates.
Historical MP LookupEnter date for which you wish to obtain a Historical MP for this fundHistorical MP may not be available for all dates.
Distributions
There are no distributions for this share class or distributions are currently not available