Seeks total return with an emphasis on current income, but also considering capital preservation, measured in US dollars.
INVESTMENT FOCUS
Conservative, short-term bond fund investing in investment-grade securities
Constructs a high quality and short duration portfolio from the bottom up
The Fund's average maturity normally doesn't exceed five years
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.
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 28-Feb-25
US$1130.89
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
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Share Class Information
Class Inception
26-Sep-2005
Net Asset Value (NAV)
As of 14-Mar-25
$156.63
Most Recent NAV Change
As of 14-Mar-25
$0.08
|
0.05%
ISIN
LU0219455796
SEDOL
B08N958
WKN
A0F481
Bloomberg
MFLMIU1 LX
CUSIP
L6365Z170
Maximum Sales Charge
--
Benchmark
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Element Fleet Management Corp 144A 6.271% JUN 26 26
Anglo American Capital PLC 144A 4.75% APR 10 27
Philipp Burgener, CFA
Portfolio Manager
25
YEARS WITH INDUSTRY
8
YEARS WITH PORTFOLIO
25
YEARS WITH INDUSTRY
8
YEARS WITH PORTFOLIO
Philipp S. Burgener, CFA, is an investment officer and fixed income portfolio manager at MFS Investment Management® (MFS®). He is part of the portfolio management teams for the limited maturity strategy as well as the US and global opportunistic fixed income strategies and serves as the leader of MFS' structured product team.
Philipp assumed his portfolio manager role in 2017. He first joined the structured product team in 2003 as a research associate and became a research analyst in 2005. Prior to that, he served as a quantitative research associate. He joined MFS in 2000 in a sales role.
Philipp earned a Bachelor of Arts degree from Colgate University and a Master of Science degree from Boston University. He holds the Chartered Financial Analyst (CFA) designation and is a member of CFA Society Boston.
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.
Rob Hall
Institutional Portfolio Manager
31
YEARS WITH INDUSTRY
6
YEARS WITH PORTFOLIO
31
YEARS WITH INDUSTRY
6
YEARS WITH PORTFOLIO
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.
These results represent the percent change in net asset value.
*YTD Updated Daily as of 14-Mar-25, subject to revision and not annualized.
12 month period ending:
28-Feb-21
or Life
Life performance is only shown when 5 years of performance is not available.
28-Feb-22
28-Feb-23
28-Feb-24
28-Feb-25
YTD %
*
Class Inception
Class
I1 Shares, US Dollars
at NAV
3.04
-1.58
-2.34
5.27
6.15
1.23
26-Sep-2005
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
1.94
-1.62
-2.51
4.58
5.54
-
-
12 month period ending:
Class
I1 Shares, US Dollars
at NAV
28-Feb-21or Life
Life performance is only shown when 5 years of performance is not available.
3.04
28-Feb-22
-1.58
28-Feb-23
-2.34
28-Feb-24
5.27
28-Feb-25
6.15
YTD %
*
1.23
Class Inception
26-Sep-2005
26-Sep-2005
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 I1 Roll-Up shares do not pay distributions to shareholders.
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
28-Feb-25
*YTD Updated Daily as of 14-Mar-25, 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 Fund's benchmark is indicated for performance comparison only.
The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.
Class I1 Roll-Up shares do not pay distributions to shareholders.
Annual Rate of Return
Annual Rate of Return (%)
Annual Rate of Return (%)
As of
31-Dec-24Benchmark: Bloomberg 1-3 Year U.S. Government/Credit Bond Index
annual rate of return table
Life
Life performance as of 28-Feb-25
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
At NAV
2.34
0.28
1.58
1.60
1.12
4.84
4.35
-0.23
-4.12
5.71
4.94
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
-
0.65
1.28
0.84
1.60
4.03
3.33
-0.47
-3.69
4.61
4.36
At NAV
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
2024
4.94
4.36
2023
5.71
4.61
2022
-4.12
-3.69
2021
-0.23
-0.47
2020
4.35
3.33
2019
4.84
4.03
2018
1.12
1.6
2017
1.6
0.84
2016
1.58
1.28
2015
0.28
0.65
Life
Life performance as of 28-Feb-25
2.34
-
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 I1 Roll-Up shares do not pay distributions to shareholders.
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
14-Mar-25
Net Asset Value (NAV):
$156.63
Change
($) (since
13-Mar-25):
0.08
Change (%) (since
13-Mar-25):
0.05
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
The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.
The Payable Date is the date on which the distribution is paid to shareholders.
Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.
Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.
Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.
There are no distributions for this share class or distributions are currently not available
Portfolio & Holdings Information
Portfolio characteristic data are based on unaudited net assets.
The portfolio is actively managed, and current holdings may be different.
Average Coupon: Average Coupon is the equivalent exposure weighted coupon of all interest bearing instruments as a percent of the total equivalent exposure of all fixed income holdings, including short term and interest rate derivatives which have coupons. Coupons are netted for securities with a payable and receivable leg. Non-accruing securities are treated as having a coupon equal to zero.
Average Effective Duration is a measure of how much a bond's price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value.
Average Effective Maturity is a weighted average of maturity of the bonds held in a portfolio, taking into account any prepayments, puts, and adjustable coupons which may shorten the maturity. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds.
Yield to Worst: For fixed income securities, yield is the discount rate that equilibrates the net present value of all future cash flows to the current market value. Average Yield is the equivalent exposure weighted average yield to worst which is typically the lowest of the yields to each potential call or put or the yield to maturity, whichever is worst.
The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.
As of
28-Feb-25
Data table of holding characteristics
characteristics
Fixed Earning
Number of Issues
302
Number of Issuers
198
Average Coupon
4.53
Average Effective Duration
1.84 yrs
Average Effective Maturity
2.17 yrs
Average Credit Quality of Rated Securities
A+
Performance Statistics
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
28-Feb-25
Benchmark
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
0.28
0.38
0.30
Beta
1.04
1.10
1.07
R-squared
54.72
53.22
93.18
Standard Deviation %
2.18
2.96
2.67
Sharpe Ratio
0.11
-0.17
-0.47
Tracking Error
1.47
2.04
0.72
Information Ratio
0.24
0.25
0.67
Treynor Ratio
0.24
-0.47
-1.18
Downside Capture %
97.39
106.83
104.83
Upside Capture %
110.88
118.53
111.98
Top 10 Holdings
As of
28-Feb-25
USD IRS 3Yr Receiver 4.967 OCT 02 26
US Treasury Note 4.625% NOV 15 26
US Treasury Note 2.75% JUL 31 27
US Treasury Note 4.875% NOV 30 25
US Treasury Note 4.5% JUL 15 26
UST Bond 2Yr Future JUN 30 25
USD IRS 2Yr Receiver 4.664 OCT 02 26
Bank of America Corp FRB JUL 22 27
Element Fleet Management Corp 144A 6.271% JUN 26 26
Anglo American Capital PLC 144A 4.75% APR 10 27
The portfolio is actively managed, and current holdings may be different.
Exposures
Portfolio Structure (%)
As of
28-Feb-25
Investment Grade Corporates
48.57
U.S. Treasuries
43.56
Collateralized Loan Obligations
12.50
Residential Mtg Backed
5.07
Commercial Mtg Backed
2.29
Emerging Markets Debt
1.31
Asset Backed
0.87
Mortgage Backed
0.56
Non-U.S. Sovereigns
0.41
Municipals
0.08
High Yield Corporates
0.00
Cash & Cash Equivalents
2.55
Other1
-17.79
Credit Quality (%)
The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.
As of
28-Feb-25
% of Total Net Assets
U.S. Government
25.78
Federal Agencies
0.56
AAA
12.77
AA
6.71
A
17.58
BBB
34.00
BB
0.00
CCC
0.00
CC
0.02
C
0.01
Other Not Rated
2.56
Currency Weights (%)
As of
28-Feb-25
United States Dollar
100.00
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.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
1Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
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 total return with an emphasis on current income, but also considering capital preservation, measured in US dollars.
INVESTMENT FOCUS
Conservative, short-term bond fund investing in investment-grade securities
Constructs a high quality and short duration portfolio from the bottom up
The Fund's average maturity normally doesn't exceed five years
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.
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 28-Feb-25
US$1130.89
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
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Share Class Information
Class Inception
26-Sep-2005
Net Asset Value (NAV)
As of 14-Mar-25
$156.63
Most Recent NAV Change
As of 14-Mar-25
$0.08
|
0.05%
ISIN
LU0219455796
SEDOL
B08N958
WKN
A0F481
Bloomberg
MFLMIU1 LX
CUSIP
L6365Z170
Maximum Sales Charge
--
Benchmark
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Element Fleet Management Corp 144A 6.271% JUN 26 26
Anglo American Capital PLC 144A 4.75% APR 10 27
Philipp Burgener, CFA
Portfolio Manager
25
YEARS WITH INDUSTRY
8
YEARS WITH PORTFOLIO
25
YEARS WITH INDUSTRY
8
YEARS WITH PORTFOLIO
Philipp S. Burgener, CFA, is an investment officer and fixed income portfolio manager at MFS Investment Management® (MFS®). He is part of the portfolio management teams for the limited maturity strategy as well as the US and global opportunistic fixed income strategies and serves as the leader of MFS' structured product team.
Philipp assumed his portfolio manager role in 2017. He first joined the structured product team in 2003 as a research associate and became a research analyst in 2005. Prior to that, he served as a quantitative research associate. He joined MFS in 2000 in a sales role.
Philipp earned a Bachelor of Arts degree from Colgate University and a Master of Science degree from Boston University. He holds the Chartered Financial Analyst (CFA) designation and is a member of CFA Society Boston.
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.
Rob Hall
Institutional Portfolio Manager
31
YEARS WITH INDUSTRY
6
YEARS WITH PORTFOLIO
31
YEARS WITH INDUSTRY
6
YEARS WITH PORTFOLIO
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.
These results represent the percent change in net asset value.
*YTD Updated Daily as of 14-Mar-25, subject to revision and not annualized.
12 month period ending:
28-Feb-21
or Life
Life performance is only shown when 5 years of performance is not available.
28-Feb-22
28-Feb-23
28-Feb-24
28-Feb-25
YTD %
*
Class Inception
Class
I1 Shares, US Dollars
at NAV
3.04
-1.58
-2.34
5.27
6.15
1.23
26-Sep-2005
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
1.94
-1.62
-2.51
4.58
5.54
-
-
12 month period ending:
Class
I1 Shares, US Dollars
at NAV
28-Feb-21or Life
Life performance is only shown when 5 years of performance is not available.
3.04
28-Feb-22
-1.58
28-Feb-23
-2.34
28-Feb-24
5.27
28-Feb-25
6.15
YTD %
*
1.23
Class Inception
26-Sep-2005
26-Sep-2005
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 I1 Roll-Up shares do not pay distributions to shareholders.
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
28-Feb-25
*YTD Updated Daily as of 14-Mar-25, 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 Fund's benchmark is indicated for performance comparison only.
The source for all fund data is MFS. Source for benchmark performance: SPAR, FactSet Research Systems Inc.
Class I1 Roll-Up shares do not pay distributions to shareholders.
Annual Rate of Return
Annual Rate of Return (%)
Annual Rate of Return (%)
As of
31-Dec-24Benchmark: Bloomberg 1-3 Year U.S. Government/Credit Bond Index
annual rate of return table
Life
Life performance as of 28-Feb-25
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
At NAV
2.34
0.28
1.58
1.60
1.12
4.84
4.35
-0.23
-4.12
5.71
4.94
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
-
0.65
1.28
0.84
1.60
4.03
3.33
-0.47
-3.69
4.61
4.36
At NAV
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
2024
4.94
4.36
2023
5.71
4.61
2022
-4.12
-3.69
2021
-0.23
-0.47
2020
4.35
3.33
2019
4.84
4.03
2018
1.12
1.6
2017
1.6
0.84
2016
1.58
1.28
2015
0.28
0.65
Life
Life performance as of 28-Feb-25
2.34
-
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 I1 Roll-Up shares do not pay distributions to shareholders.
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
14-Mar-25
Net Asset Value (NAV):
$156.63
Change
($) (since
13-Mar-25):
0.08
Change (%) (since
13-Mar-25):
0.05
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
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The Record Date is the date on which a fund declares a distribution. To receive the distribution, an investor must be a shareholder of record on that date.
The Payable Date is the date on which the distribution is paid to shareholders.
Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding.
Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value.
Ex-Dividend Date is the date on which a fund goes ex-dividend. The interval between the announcement and the payment of the next dividend. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout.
There are no distributions for this share class or distributions are currently not available
Average Coupon: Average Coupon is the equivalent exposure weighted coupon of all interest bearing instruments as a percent of the total equivalent exposure of all fixed income holdings, including short term and interest rate derivatives which have coupons. Coupons are netted for securities with a payable and receivable leg. Non-accruing securities are treated as having a coupon equal to zero.
Average Effective Duration is a measure of how much a bond's price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value.
Average Effective Maturity is a weighted average of maturity of the bonds held in a portfolio, taking into account any prepayments, puts, and adjustable coupons which may shorten the maturity. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds.
Yield to Worst: For fixed income securities, yield is the discount rate that equilibrates the net present value of all future cash flows to the current market value. Average Yield is the equivalent exposure weighted average yield to worst which is typically the lowest of the yields to each potential call or put or the yield to maturity, whichever is worst.
The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.
As of
28-Feb-25
Data table of holding characteristics
characteristics
Fixed Earning
Number of Issues
302
Number of Issuers
198
Average Coupon
4.53
Average Effective Duration
1.84 yrs
Average Effective Maturity
2.17 yrs
Average Credit Quality of Rated Securities
A+
Performance Statistics
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
28-Feb-25
Benchmark
Bloomberg 1-3 Year U.S. Government/Credit Bond Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
0.28
0.38
0.30
Beta
1.04
1.10
1.07
R-squared
54.72
53.22
93.18
Standard Deviation %
2.18
2.96
2.67
Sharpe Ratio
0.11
-0.17
-0.47
Tracking Error
1.47
2.04
0.72
Information Ratio
0.24
0.25
0.67
Treynor Ratio
0.24
-0.47
-1.18
Downside Capture %
97.39
106.83
104.83
Upside Capture %
110.88
118.53
111.98
Top 10 Holdings
As of
28-Feb-25
USD IRS 3Yr Receiver 4.967 OCT 02 26
US Treasury Note 4.625% NOV 15 26
US Treasury Note 2.75% JUL 31 27
US Treasury Note 4.875% NOV 30 25
US Treasury Note 4.5% JUL 15 26
UST Bond 2Yr Future JUN 30 25
USD IRS 2Yr Receiver 4.664 OCT 02 26
Bank of America Corp FRB JUL 22 27
Element Fleet Management Corp 144A 6.271% JUN 26 26
Anglo American Capital PLC 144A 4.75% APR 10 27
The portfolio is actively managed, and current holdings may be different.
Exposures
Portfolio Structure (%)
As of
28-Feb-25
Investment Grade Corporates
48.57
U.S. Treasuries
43.56
Collateralized Loan Obligations
12.50
Residential Mtg Backed
5.07
Commercial Mtg Backed
2.29
Emerging Markets Debt
1.31
Asset Backed
0.87
Mortgage Backed
0.56
Non-U.S. Sovereigns
0.41
Municipals
0.08
High Yield Corporates
0.00
Cash & Cash Equivalents
2.55
Other1
-17.79
Credit Quality (%)
The Average Credit Quality (ACQR) is a market weighted average (using a linear scale) of securities included in the rating categories. For all securities other than those described below, ratings are assigned utilizing ratings from Moody’s, Fitch, and Standard & Poor’s and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. Other Not Rated includes other fixed income securities not rated by any rating agency. Ratings are shown in the S&P and Fitch scale (e.g., AAA). All ratings are subject to change. The portfolio itself has not been rated by any rating agency. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moody’s, and Fitch respectively.
As of
28-Feb-25
% of Total Net Assets
U.S. Government
25.78
Federal Agencies
0.56
AAA
12.77
AA
6.71
A
17.58
BBB
34.00
BB
0.00
CCC
0.00
CC
0.02
C
0.01
Other Not Rated
2.56
Currency Weights (%)
As of
28-Feb-25
United States Dollar
100.00
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.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
1Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
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