Seeks capital appreciation, measured in US dollars.
INVESTMENT FOCUS
Concentrated portfolio of global stocks; with the flexibility to invest without limit in debt securities
May use cash, derivatives, and other fixed income instruments to manage equity market exposure and downside risk
Seeks to invest in undervalued, quality companies based on a fundamental, bottom-up approach
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
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.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
Fund Inception
04-Mar-2008
Net Assets
(US$
M)
As of 31-Jul-24
US$
2523.78
Fiscal Year End
JANUARY
SFDR Classification
Article 6: Integrates sustainability risks into the investment process.
Article 8: Systematically promotes a stated environmental or social characteristic and provides enhanced disclosure accordingly.
Article 9: Typically for "impact" funds, which have a dual objective of financial return and specific environmental or social outcomes.
Article 8
Benchmark
MSCI World Index (net div)
Share Class Information
Class Inception
04-Mar-2008
Net Asset Value (NAV)
As of 30-Aug-24
$22.48
Most Recent NAV Change
As of 30-Aug-24
$0.05
|
0.22%
Debt Instruments, excluding Short-Term Government Securities
10.19%
10.19%
Cash, Cash Equivalents, and Short-Term Government Securities2
19.75%
Other3
4.08%
Total Net Exposure Summary
100.00%
1
Market exposure of derivative position utilized to adjust fund market exposure.
3Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
David Cole, CFA
Portfolio Manager
31
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
31
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
David P. Cole, CFA, is an investment officer of MFS Investment Management® (MFS®). He is also a co-portfolio manager of the firm's high-yield portfolios.
David joined MFS in 2004 after working for five years as a high-yield analyst for Franklin Templeton Investments. Before that, he served as a financial economist/Treasury market analyst for Thomson Financial Services and an economist for Standard and Poor's.
David has a bachelor's degree from Cornell University and an MBA from University of California, Berkeley. He holds the Chartered Financial Analyst (CFA) designation.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Shanti Das-Wermes
Portfolio Manager
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
Shanti Das-Wermes is an investment officer, equity research analyst, sector leader and portfolio manager at MFS Investment Management® (MFS®). As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe and works closely with portfolio managers to ensure investment ideas are properly positioned within MFS portfolios. Within the Prudent strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He is based in London.
Shanti joined MFS in 2011 after participating in the firm's MBA analyst intern program. He assumed international financial sector leadership in 2019 and assumed portfolio manager responsibilities in 2022. Prior analyst coverage included consumer staples, building materials & infrastructure, telecoms & cable as well as banks and diversified financials. He was previously an associate with Audax Private Equity for two years and served as a business analyst at McKinsey & Company for two years.
Shanti attended the London School of Economics and earned a Summa Cum Laude Bachelor of Arts degree in Economics and Political Science from Indiana University and a Master of Business Administration degree from Harvard Business School.
Edward Dearing
Portfolio Manager
16
YEARS WITH INDUSTRY
5
YEARS WITH PORTFOLIO
16
YEARS WITH INDUSTRY
5
YEARS WITH PORTFOLIO
Edward J. Dearing is an investment officer and equity portfolio manager at MFS Investment Management (MFS). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk and cash management. He also participates in the research process and strategy discussions. He is based in London.
Edward joined MFS in 2014 as an equity research analyst and took on portfolio management responsibilities for the firm's Prudent Capital strategy in 2018. Prior to joining the firm, he worked at Deutsche Bank AG. Before that, he worked for three years as an attorney with Covington & Burling LLP and for three years at Clifford Chance LLP.
Edward earned his Master of Arts degree in Law with honors from Cambridge University and a Master of Business Administration degree from the London Business School.
These results represent the percent change in net asset value.
*YTD Updated Daily as of 30-Aug-24, subject to revision and not annualized.
12 month period ending:
31-Jul-20
or Life
Life performance is only shown when 5 years of performance is not available.
31-Jul-21
31-Jul-22
31-Jul-23
31-Jul-24
YTD %
*
Class Inception
Class
A1 Shares, US Dollars
at NAV
12.78
10.61
-13.09
4.62
5.61
3.40
04-Mar-2008
Class
A1 Shares, US Dollars
With Max Sales Charges
6.01
3.98
-18.31
-1.65
-0.73
-2.80
04-Mar-2008
12 month period ending:
Class
A1 Shares, US Dollars
at NAV
Class
A1 Shares, US Dollars
With Max Sales Charges
31-Jul-20or Life
Life performance is only shown when 5 years of performance is not available.
12.78
6.01
31-Jul-21
10.61
3.98
31-Jul-22
-13.09
-18.31
31-Jul-23
4.62
-1.65
31-Jul-24
5.61
-0.73
YTD %
*
3.40
-2.80
Class Inception
04-Mar-2008
04-Mar-2008
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 A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Average Annual Total Returns
Average Annual Total Returns (%)
Average Annual Total Returns (%)
These results represent the percent change in net asset value.
Updated monthly as of
31-Jul-24
*YTD Updated Daily as of 30-Aug-24, subject to revision and not annualized.
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.
The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.
The Fund’s benchmark is indicated for performance (including volatility) comparison only.
Class A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Annual Rate of Return
Annual Rate of Return (%)
Annual Rate of Return (%)
As of
31-Dec-23
annual rate of return table
Life
Life performance as of 31-Jul-24
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
4.99
1.08
6.01
-1.82
18.08
-1.22
13.73
15.08
2.97
-16.57
13.94
With Max Sales Charges
4.59
-4.98
-0.35
-7.71
10.99
-7.15
6.91
8.17
-3.21
-21.58
7.10
At NAV
With Max Sales Charges
2023
13.94
7.1
2022
-16.57
-21.58
2021
2.97
-3.21
2020
15.08
8.17
2019
13.73
6.91
2018
-1.22
-7.15
2017
18.08
10.99
2016
-1.82
-7.71
2015
6.01
-0.35
2014
1.08
-4.98
Life
Life performance as of 31-Jul-24
4.99
4.59
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 A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
30-Aug-24
Net Asset Value (NAV):
$22.48
Change ($) (since
29-Aug-24):
0.05
Change (%) (since
29-Aug-24):
0.22
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
Enter date for which you wish to obtain a Historical NAV for this fund
Historical NAV may not be available for all dates.
Historical MP Lookup
Enter date for which you wish to obtain a Historical MP for this fund
Alpha is a measure of the portfolio's risk-adjusted performance. When compared to the portfolio's beta, a positive alpha indicates better-than-expected portfolio performance and a negative indicates alpha worse-than-expected portfolio performance.
Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. It is most reliable as a risk measure when the return fluctuations of the portfolio are highly correlated with the return fluctuations of the index chosen to represent the market.
Information ratio is a measure of consistency in excess return. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return.
R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market. Index portfolios will tend to have values very close to 100. R squared is not a measure of performance.
The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. It uses a standard deviation and excess return. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.
Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The larger the portfolio's standard deviation, the greater the portfolio's volatility.
Tracking error is the standard deviation of a portfolio's excess returns. Excess returns are a portfolio's return minus the benchmark's annualized return.
Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed.
Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.
Updated Monthly As of
31-Jul-24
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
1.24
-0.66
-4.87
Beta
0.35
0.36
0.51
R-squared
52.74
53.48
78.35
Standard Deviation %
7.20
8.71
9.86
Sharpe Ratio
0.43
0.17
-0.47
Tracking Error
10.96
12.88
9.66
Information Ratio
-0.45
-0.65
-0.85
Treynor Ratio
8.97
4.12
-9.10
Downside Capture %
36.76
45.50
60.59
Upside Capture %
40.81
39.67
41.25
Fund Positioning (%)
As of
31-Jul-24
Active Security Selection
Derivative Positions 1
Net Exposure
Equity
64.41%
65.98%
Gold Related Investments
5.02%
-3.46%
Russell 2000 Index Option PUT(s)*
Russell 2000 Index DEC 20 24 P1350*
-0.06%
Russell 2000 Index DEC 19 25 P1400*
-0.26%
Russell 2000 Index JUN 20 25 P1700*
-0.36%
Euro Stoxx 50 Index Option PUT(s)
Euro Stoxx 50 Index Option AUG 16 24 P4000 OTC*
0.02%
Euro Stoxx 50 Index Option SEP 19 25 P3500 OTC*
-0.22%
Euro Stoxx 50 Index Option JUN 20 25 P3600 OTC*
-0.32%
Euro Stoxx 50 Index Option AUG 16 24 P4600 OTC*
-0.33%
Standard and Poors 500 Index Option PUT(s)*
Standard & Poors 500 Index AUG 16 24 P3700*
0.01%
Standard & Poors 500 Index AUG 16 24 P4800*
-0.15%
Standard & Poors 500 Index DEC 19 25 P3300*
-0.20%
Standard & Poors 500 Index DEC 19 25 P3700*
-0.29%
Standard & Poors 500 Index DEC 20 24 P4500*
-0.37%
Standard & Poors 500 Index JUN 20 25 P4800*
-0.93%
Debt Instruments, excluding Short-Term Government Securities
10.19%
10.19%
Cash, Cash Equivalents, and Short-Term Government Securities2
19.75%
Other3
4.08%
Total Net Exposure Summary
100.00%
1
Market exposure of derivative position utilized to adjust fund market exposure.
2
Cash & Cash Equivalents includes any cash, investments in money market funds, and/or other assets less liabilities. The total also includes investments in short term securities (including short-term governments securities).
3Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
Top 10 Holdings
As of
31-Jul-24
iShares Physical Gold ETC ETF
Samsung Electronics Co Ltd
Alphabet Inc Class A
US Treasury Inflation Indexed Bonds 0.125% APR 15 27
Euronext NV
US Treasury Inflation Indexed Bonds 2.375% JAN 15 25
Amadeus IT Group SA
US Treasury Note 3.875% MAR 31 25
Edenred SE
Heineken Holding NV
The portfolio is actively managed, and current holdings may be different.
Exposures
Currency Weights (%)
As of
31-Jul-24
United States Dollar
70.24
British Pound Sterling
9.58
Japanese Yen
7.24
Euro
6.48
South Korean Won
3.44
Brazilian Real
1.24
Swiss Franc
1.00
Mexican Peso
0.60
Hong Kong Dollar
0.18
Important Characteristics Information
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
Top holdings, portfolio characteristics and weightings do not reflect the effect of exposure/weightings for hedging of hedged share classes. Full holdings and net assets do reflect this hedging.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
Click here to view fund documents such as Key Investor Documents, Complete Prospectus, Annual Report, Semi Annual Report, Swing Pricing, and Fact Sheets. Some of these documents are available in other languages.
Seeks capital appreciation, measured in US dollars.
INVESTMENT FOCUS
Concentrated portfolio of global stocks; with the flexibility to invest without limit in debt securities
May use cash, derivatives, and other fixed income instruments to manage equity market exposure and downside risk
Seeks to invest in undervalued, quality companies based on a fundamental, bottom-up approach
Important Risk Considerations
The fund may not achieve its objective and/or you could lose money on your investment in the fund.
Stock: Stock markets and investments in individual stocks are volatile and can decline significantly in response to or investor perception of, issuer, market, economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
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.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
Fund Inception
04-Mar-2008
Net Assets
(US$
M)
As of 31-Jul-24
US$
2523.78
Fiscal Year End
JANUARY
SFDR Classification
Article 6: Integrates sustainability risks into the investment process.
Article 8: Systematically promotes a stated environmental or social characteristic and provides enhanced disclosure accordingly.
Article 9: Typically for "impact" funds, which have a dual objective of financial return and specific environmental or social outcomes.
Article 8
Benchmark
MSCI World Index (net div)
Share Class Information
Class Inception
04-Mar-2008
Net Asset Value (NAV)
As of 30-Aug-24
$22.48
Most Recent NAV Change
As of 30-Aug-24
$0.05
|
0.22%
Debt Instruments, excluding Short-Term Government Securities
10.19%
10.19%
Cash, Cash Equivalents, and Short-Term Government Securities2
19.75%
Other3
4.08%
Total Net Exposure Summary
100.00%
1
Market exposure of derivative position utilized to adjust fund market exposure.
3Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
David Cole, CFA
Portfolio Manager
31
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
31
YEARS WITH INDUSTRY
1
YEAR WITH PORTFOLIO
David P. Cole, CFA, is an investment officer of MFS Investment Management® (MFS®). He is also a co-portfolio manager of the firm's high-yield portfolios.
David joined MFS in 2004 after working for five years as a high-yield analyst for Franklin Templeton Investments. Before that, he served as a financial economist/Treasury market analyst for Thomson Financial Services and an economist for Standard and Poor's.
David has a bachelor's degree from Cornell University and an MBA from University of California, Berkeley. He holds the Chartered Financial Analyst (CFA) designation.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration, and active risk management.
Shanti Das-Wermes
Portfolio Manager
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
Shanti Das-Wermes is an investment officer, equity research analyst, sector leader and portfolio manager at MFS Investment Management® (MFS®). As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe and works closely with portfolio managers to ensure investment ideas are properly positioned within MFS portfolios. Within the Prudent strategies, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He is based in London.
Shanti joined MFS in 2011 after participating in the firm's MBA analyst intern program. He assumed international financial sector leadership in 2019 and assumed portfolio manager responsibilities in 2022. Prior analyst coverage included consumer staples, building materials & infrastructure, telecoms & cable as well as banks and diversified financials. He was previously an associate with Audax Private Equity for two years and served as a business analyst at McKinsey & Company for two years.
Shanti attended the London School of Economics and earned a Summa Cum Laude Bachelor of Arts degree in Economics and Political Science from Indiana University and a Master of Business Administration degree from Harvard Business School.
Edward Dearing
Portfolio Manager
16
YEARS WITH INDUSTRY
5
YEARS WITH PORTFOLIO
16
YEARS WITH INDUSTRY
5
YEARS WITH PORTFOLIO
Edward J. Dearing is an investment officer and equity portfolio manager at MFS Investment Management (MFS). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk and cash management. He also participates in the research process and strategy discussions. He is based in London.
Edward joined MFS in 2014 as an equity research analyst and took on portfolio management responsibilities for the firm's Prudent Capital strategy in 2018. Prior to joining the firm, he worked at Deutsche Bank AG. Before that, he worked for three years as an attorney with Covington & Burling LLP and for three years at Clifford Chance LLP.
Edward earned his Master of Arts degree in Law with honors from Cambridge University and a Master of Business Administration degree from the London Business School.
These results represent the percent change in net asset value.
*YTD Updated Daily as of 30-Aug-24, subject to revision and not annualized.
12 month period ending:
31-Jul-20
or Life
Life performance is only shown when 5 years of performance is not available.
31-Jul-21
31-Jul-22
31-Jul-23
31-Jul-24
YTD %
*
Class Inception
Class
A1 Shares, US Dollars
at NAV
12.78
10.61
-13.09
4.62
5.61
3.40
04-Mar-2008
Class
A1 Shares, US Dollars
With Max Sales Charges
6.01
3.98
-18.31
-1.65
-0.73
-2.80
04-Mar-2008
12 month period ending:
Class
A1 Shares, US Dollars
at NAV
Class
A1 Shares, US Dollars
With Max Sales Charges
31-Jul-20or Life
Life performance is only shown when 5 years of performance is not available.
12.78
6.01
31-Jul-21
10.61
3.98
31-Jul-22
-13.09
-18.31
31-Jul-23
4.62
-1.65
31-Jul-24
5.61
-0.73
YTD %
*
3.40
-2.80
Class Inception
04-Mar-2008
04-Mar-2008
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 A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Average Annual Total Returns
Average Annual Total Returns (%)
Average Annual Total Returns (%)
These results represent the percent change in net asset value.
Updated monthly as of
31-Jul-24
*YTD Updated Daily as of 30-Aug-24, subject to revision and not annualized.
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.
The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.
The Fund’s benchmark is indicated for performance (including volatility) comparison only.
Class A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Annual Rate of Return
Annual Rate of Return (%)
Annual Rate of Return (%)
As of
31-Dec-23
annual rate of return table
Life
Life performance as of 31-Jul-24
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
4.99
1.08
6.01
-1.82
18.08
-1.22
13.73
15.08
2.97
-16.57
13.94
With Max Sales Charges
4.59
-4.98
-0.35
-7.71
10.99
-7.15
6.91
8.17
-3.21
-21.58
7.10
At NAV
With Max Sales Charges
2023
13.94
7.1
2022
-16.57
-21.58
2021
2.97
-3.21
2020
15.08
8.17
2019
13.73
6.91
2018
-1.22
-7.15
2017
18.08
10.99
2016
-1.82
-7.71
2015
6.01
-0.35
2014
1.08
-4.98
Life
Life performance as of 31-Jul-24
4.99
4.59
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 A1 Front-End Roll-Up shares may be subject to a maximum 6% up-front sales charge and do not pay distributions to shareholders. The amount of sales charge payable may be negotiable with and may vary among Financial Intermediaries.
The Fund's investment strategy was changed on 31 January 2011; performance shown prior to this date reflects the Fund's prior investment strategy.
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
30-Aug-24
Net Asset Value (NAV):
$22.48
Change ($) (since
29-Aug-24):
0.05
Change (%) (since
29-Aug-24):
0.22
Market Price (MP):
Maximum data displayed is for the most recent 10 years
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Alpha is a measure of the portfolio's risk-adjusted performance. When compared to the portfolio's beta, a positive alpha indicates better-than-expected portfolio performance and a negative indicates alpha worse-than-expected portfolio performance.
Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. It is most reliable as a risk measure when the return fluctuations of the portfolio are highly correlated with the return fluctuations of the index chosen to represent the market.
Information ratio is a measure of consistency in excess return. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return.
R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market. Index portfolios will tend to have values very close to 100. R squared is not a measure of performance.
The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. It uses a standard deviation and excess return. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.
Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The larger the portfolio's standard deviation, the greater the portfolio's volatility.
Tracking error is the standard deviation of a portfolio's excess returns. Excess returns are a portfolio's return minus the benchmark's annualized return.
Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed.
Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.
Updated Monthly As of
31-Jul-24
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
1.24
-0.66
-4.87
Beta
0.35
0.36
0.51
R-squared
52.74
53.48
78.35
Standard Deviation %
7.20
8.71
9.86
Sharpe Ratio
0.43
0.17
-0.47
Tracking Error
10.96
12.88
9.66
Information Ratio
-0.45
-0.65
-0.85
Treynor Ratio
8.97
4.12
-9.10
Downside Capture %
36.76
45.50
60.59
Upside Capture %
40.81
39.67
41.25
Fund Positioning (%)
As of
31-Jul-24
Active Security Selection
Derivative Positions 1
Net Exposure
Equity
64.41%
65.98%
Gold Related Investments
5.02%
-3.46%
Russell 2000 Index Option PUT(s)*
Russell 2000 Index DEC 20 24 P1350*
-0.06%
Russell 2000 Index DEC 19 25 P1400*
-0.26%
Russell 2000 Index JUN 20 25 P1700*
-0.36%
Euro Stoxx 50 Index Option PUT(s)
Euro Stoxx 50 Index Option AUG 16 24 P4000 OTC*
0.02%
Euro Stoxx 50 Index Option SEP 19 25 P3500 OTC*
-0.22%
Euro Stoxx 50 Index Option JUN 20 25 P3600 OTC*
-0.32%
Euro Stoxx 50 Index Option AUG 16 24 P4600 OTC*
-0.33%
Standard and Poors 500 Index Option PUT(s)*
Standard & Poors 500 Index AUG 16 24 P3700*
0.01%
Standard & Poors 500 Index AUG 16 24 P4800*
-0.15%
Standard & Poors 500 Index DEC 19 25 P3300*
-0.20%
Standard & Poors 500 Index DEC 19 25 P3700*
-0.29%
Standard & Poors 500 Index DEC 20 24 P4500*
-0.37%
Standard & Poors 500 Index JUN 20 25 P4800*
-0.93%
Debt Instruments, excluding Short-Term Government Securities
10.19%
10.19%
Cash, Cash Equivalents, and Short-Term Government Securities2
19.75%
Other3
4.08%
Total Net Exposure Summary
100.00%
1
Market exposure of derivative position utilized to adjust fund market exposure.
2
Cash & Cash Equivalents includes any cash, investments in money market funds, and/or other assets less liabilities. The total also includes investments in short term securities (including short-term governments securities).
3Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
Top 10 Holdings
As of
31-Jul-24
iShares Physical Gold ETC ETF
Samsung Electronics Co Ltd
Alphabet Inc Class A
US Treasury Inflation Indexed Bonds 0.125% APR 15 27
Euronext NV
US Treasury Inflation Indexed Bonds 2.375% JAN 15 25
Amadeus IT Group SA
US Treasury Note 3.875% MAR 31 25
Edenred SE
Heineken Holding NV
The portfolio is actively managed, and current holdings may be different.
Exposures
Currency Weights (%)
As of
31-Jul-24
United States Dollar
70.24
British Pound Sterling
9.58
Japanese Yen
7.24
Euro
6.48
South Korean Won
3.44
Brazilian Real
1.24
Swiss Franc
1.00
Mexican Peso
0.60
Hong Kong Dollar
0.18
Important Characteristics Information
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
Top holdings, portfolio characteristics and weightings do not reflect the effect of exposure/weightings for hedging of hedged share classes. Full holdings and net assets do reflect this hedging.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
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