U.S. Corporate Bond Fund
THIS INFORMATION IS FOR MARKETING PURPOSES ONLY
Please note that this is an actively managed product.
Class I shares are only available to certain qualifying institutional investors.
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Fact Sheet - Documents
U.S. Corporate Bond Fund
INVESTMENT OBJECTIVE
Seeks total return with an emphasis on current income, but also considering capital appreciation, measured in US dollars.
INVESTMENT FOCUS
Focuses on investment-grade debt and corporate bonds of U.S. issuers believed to have solid/improving fundamentals
May also include high-yield, international and/or emerging market debt
Portfolio based on intensive fundamental research and collaborative research organization that aims to avoid adverse credit events, and focuses on bottom-up security selection
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.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 19-Feb-2013
- Net Assets (US$ M) As of 28-Feb-25 US$623.99
- Fiscal Year End JANUARY
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SFDR Classification
Article 8
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.
- Benchmark Bloomberg U.S. Credit Index
Share Class Information
- Class Inception 19-Feb-2013
- Net Asset Value (NAV) As of 14-Mar-25 $137.54
- Most Recent NAV Change As of 14-Mar-25 $0.08 | 0.06%
- ISIN LU0870268686
- SEDOL B992ZT3
- WKN A1KA2T
- Bloomberg MFI1USD LX
- CUSIP L6365X183
- Maximum Sales Charge --
- Benchmark Bloomberg U.S. Credit Index
MANAGERS
Top 10 Holdings
- UST Bond 2Yr Future JUN 30 25
- UST Bond 30Yr Future JUN 18 25
- UST Ultra Bond Future JUN 18 25
- UBS Group AG 144A FRB AUG 13 30
- JPMorgan Chase & Co FRB NOV 08 32
- Bank of America Corp FRB APR 27 28
- Vodafone Group PLC 5.625% FEB 10 53
- Oracle Corp 5.55% FEB 06 53
- UST Bond 10Yr Future JUN 18 25*
- UST 10Yr Ultra Bond Future JUN 18 25*
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.
Jay Mitchell, CFA
Portfolio Manager
Jay Mitchell, CFA, is an investment officer and fixed income portfolio manager at MFS Investment Management® (MFS®). In this role, he collaborates with the full MFS global investment organization to develop and implement portfolio strategies that seek to achieve long-term performance objectives. His responsibilities encompass all aspects of portfolio construction, including risk budgeting, asset allocation, security selection and risk management. Jay joined MFS in 2000, first serving in the firm's retirement services division. In 2003, he was named fixed income trading associate and in 2004 was named fixed income research associate. In 2007, he was promoted to research analyst and in 2017 was named director of emerging market corporate research. He added portfolio responsibilities in 2020, and in 2023 was named portfolio manager on the US and global credit strategies. Jay earned a bachelor's degree in finance and a Master of Business Administration degree from Boston College. He holds the Chartered Financial Analyst designation from the CFA Institute and is a member of the CFA Society Boston.
Craig Anzlovar, CFA
Institutional Portfolio Manager
Craig Anzlovar, CFA, is an institutional fixed income portfolio manager at MFS Investment Management® (MFS®). He is responsible for ensuring that the implementation of the investment process aligns with client expectations and for providing transparency on our fixed income investment philosophy, process, strategy and performance. He is a member of the portfolio management team of the strategies he supports and participates in portfolio strategy and positioning discussions. Craig joined MFS in 2015 as a managing director, investment product specialist and was named to his current role in 2021. Before joining MFS, he was a fixed income client portfolio manager at Pioneer Investments for one year. Prior to that, from 2001 to 2014, he worked at Fidelity Investments, where he held multiple fixed roles, including institutional portfolio manager for two years and investment director for seven years. He began his career in the financial services industry in 2001. Craig earned a bachelor's degree from Fairfield University and a Master of Business Administration degree from Babson College. He is a CFA charter holder and a member of CFA Society Boston.
Performance
12 Month Total Returns (%)
12 Month Total Returns (%)
As of 28-Feb-25 [updated monthly]| 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 | 3.83 | -3.33 | -10.66 | 6.45 | 6.99 | 1.67 | 19-Feb-2013 |
| Bloomberg U.S. Credit Index | 2.36 | -3.25 | -10.15 | 5.70 | 6.41 | - | - |
| 12 month period ending: | Class I1 Shares, US Dollars at NAV | |
|---|---|---|
|
28-Feb-21
or Life
Life performance is only shown when 5 years of performance is not available. |
3.83 | |
| 28-Feb-22 | -3.33 | |
| 28-Feb-23 | -10.66 | |
| 28-Feb-24 | 6.45 | |
| 28-Feb-25 | 6.99 | |
| YTD % * | 1.67 | |
| Class Inception | 19-Feb-2013 | 19-Feb-2013 |
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 (%)
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.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
Annual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: Bloomberg U.S. Credit Index|
Life
Life performance as of 28-Feb-25 |
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 2.77 | -0.27 | 6.16 | 6.49 | -3.15 | 14.35 | 11.45 | -1.43 | -16.49 | 9.04 | 2.97 |
| Bloomberg U.S. Credit Index | - | -0.77 | 5.63 | 6.18 | -2.11 | 13.80 | 9.35 | -1.08 | -15.26 | 8.18 | 2.03 |
| At NAV | Bloomberg U.S. Credit Index | |
|---|---|---|
| 2024 | 2.97 | 2.03 |
| 2023 | 9.04 | 8.18 |
| 2022 | -16.49 | -15.26 |
| 2021 | -1.43 | -1.08 |
| 2020 | 11.45 | 9.35 |
| 2019 | 14.35 | 13.8 |
| 2018 | -3.15 | -2.11 |
| 2017 | 6.49 | 6.18 |
| 2016 | 6.16 | 5.63 |
| 2015 | -0.27 | -0.77 |
|
Life
Life performance as of 28-Feb-25 |
2.77 | - |
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 History
- NAV at Close of Trading on: 14-Mar-25
- Net Asset Value (NAV): $137.54
- Change ($) (since 13-Mar-25): 0.08
- Change (%) (since 13-Mar-25): 0.06
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Swing Pricing
Distributions
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.
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.
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Overview
INVESTMENT OBJECTIVE
Seeks total return with an emphasis on current income, but also considering capital appreciation, measured in US dollars.
INVESTMENT FOCUS
Focuses on investment-grade debt and corporate bonds of U.S. issuers believed to have solid/improving fundamentals
May also include high-yield, international and/or emerging market debt
Portfolio based on intensive fundamental research and collaborative research organization that aims to avoid adverse credit events, and focuses on bottom-up security selection
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.
Geographic: Because the portfolio may invest a substantial amount of its assets in issuers located in a single country or in a limited number of countries, it may be more volatile than a portfolio that is more geographically diversified.
Please see the prospectus for further information on these and other risk considerations.
Fund Information
- Fund Inception 19-Feb-2013
- Net Assets (US$ M) As of 28-Feb-25 US$623.99
- Fiscal Year End JANUARY
-
SFDR Classification
Article 8
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.
- Benchmark Bloomberg U.S. Credit Index
Share Class Information
- Class Inception 19-Feb-2013
- Net Asset Value (NAV) As of 14-Mar-25 $137.54
- Most Recent NAV Change As of 14-Mar-25 $0.08 | 0.06%
- ISIN LU0870268686
- SEDOL B992ZT3
- WKN A1KA2T
- Bloomberg MFI1USD LX
- CUSIP L6365X183
- Maximum Sales Charge --
- Benchmark Bloomberg U.S. Credit Index
MANAGERS
Top 10 Holdings
As of 28-Feb-25- UST Bond 2Yr Future JUN 30 25
- UST Bond 30Yr Future JUN 18 25
- UST Ultra Bond Future JUN 18 25
- UBS Group AG 144A FRB AUG 13 30
- JPMorgan Chase & Co FRB NOV 08 32
- Bank of America Corp FRB APR 27 28
- Vodafone Group PLC 5.625% FEB 10 53
- Oracle Corp 5.55% FEB 06 53
- UST Bond 10Yr Future JUN 18 25*
- UST 10Yr Ultra Bond Future JUN 18 25*
Alexander Mackey, CFA
Portfolio Manager
VIEW FULL PROFILE27YEARS WITH INDUSTRY
8YEARS 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.
Jay Mitchell, CFA
Portfolio Manager
25YEARS WITH INDUSTRY
2YEARS WITH PORTFOLIOJay Mitchell, CFA, is an investment officer and fixed income portfolio manager at MFS Investment Management® (MFS®). In this role, he collaborates with the full MFS global investment organization to develop and implement portfolio strategies that seek to achieve long-term performance objectives. His responsibilities encompass all aspects of portfolio construction, including risk budgeting, asset allocation, security selection and risk management. Jay joined MFS in 2000, first serving in the firm's retirement services division. In 2003, he was named fixed income trading associate and in 2004 was named fixed income research associate. In 2007, he was promoted to research analyst and in 2017 was named director of emerging market corporate research. He added portfolio responsibilities in 2020, and in 2023 was named portfolio manager on the US and global credit strategies. Jay earned a bachelor's degree in finance and a Master of Business Administration degree from Boston College. He holds the Chartered Financial Analyst designation from the CFA Institute and is a member of the CFA Society Boston.
Craig Anzlovar, CFA
Institutional Portfolio Manager
25YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOCraig Anzlovar, CFA, is an institutional fixed income portfolio manager at MFS Investment Management® (MFS®). He is responsible for ensuring that the implementation of the investment process aligns with client expectations and for providing transparency on our fixed income investment philosophy, process, strategy and performance. He is a member of the portfolio management team of the strategies he supports and participates in portfolio strategy and positioning discussions. Craig joined MFS in 2015 as a managing director, investment product specialist and was named to his current role in 2021. Before joining MFS, he was a fixed income client portfolio manager at Pioneer Investments for one year. Prior to that, from 2001 to 2014, he worked at Fidelity Investments, where he held multiple fixed roles, including institutional portfolio manager for two years and investment director for seven years. He began his career in the financial services industry in 2001. Craig earned a bachelor's degree from Fairfield University and a Master of Business Administration degree from Babson College. He is a CFA charter holder and a member of CFA Society Boston.
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Performance
Performance
12 Month Total Returns12 Month Total Returns (%)
12 Month Total Returns (%)
As of 28-Feb-25 [updated monthly]These results represent the percent change in net asset value.*YTD Updated Daily as of 16-Mar-25, subject to revision and not annualized.12 month period ending: 28-Feb-21or LifeLife 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 3.83 -3.33 -10.66 6.45 6.99 1.67 19-Feb-2013 Bloomberg U.S. Credit Index 2.36 -3.25 -10.15 5.70 6.41 - - 12 month period ending: Class I1 Shares, US Dollars at NAV 28-Feb-21 or Life Life performance is only shown when 5 years of performance is not available.
3.83 28-Feb-22 -3.33 28-Feb-23 -10.66 28-Feb-24 6.45 28-Feb-25 6.99 YTD % * 1.67 Class Inception 19-Feb-2013 19-Feb-2013 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 ReturnsAverage 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 16-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.
Important Performance Information
Class I1 Roll-Up shares do not pay distributions to shareholders.
Annual Rate of ReturnAnnual Rate of Return (%)
Annual Rate of Return (%)
As of 31-Dec-24 Benchmark: Bloomberg U.S. Credit Indexannual rate of return table LifeLife performance as of 28-Feb-25
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 2.77 -0.27 6.16 6.49 -3.15 14.35 11.45 -1.43 -16.49 9.04 2.97 Bloomberg U.S. Credit Index - -0.77 5.63 6.18 -2.11 13.80 9.35 -1.08 -15.26 8.18 2.03 At NAV Bloomberg U.S. Credit Index 2024 2.97 2.03 2023 9.04 8.18 2022 -16.49 -15.26 2021 -1.43 -1.08 2020 11.45 9.35 2019 14.35 13.8 2018 -3.15 -2.11 2017 6.49 6.18 2016 6.16 5.63 2015 -0.27 -0.77 LifeLife performance as of 28-Feb-25
2.77 - 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 & DistributionsPricing History
- NAV at Close of Trading on: 14-Mar-25
- Net Asset Value (NAV): $137.54
- Change ($) (since 13-Mar-25): 0.08
- Change (%) (since 13-Mar-25): 0.06
- 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.
Swing Pricing
Distributions
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