You are about to enter the
United States - Individual Investor Site
IF THIS IS INCORRECT PLEASE SELECT ANOTHER ROLE
6 9

International Equity Fund

  • Global / Intl Equity
MIEKX
$ 36.87
$0.41 As of 03/14/25
$25.3B
As of 02/28/25

International Equity Fund

  • Global / Intl Equity
MIEKX
$0.41 As of 03/14/25
As of 02/28/25
  • Global / Intl Equity
MIEKX
$ 36.87
$0.41 As of 03/14/25
$25.3B
As of 02/28/25
  • Overview

    INVESTMENT OBJECTIVE

    Seeks capital appreciation.

    INVESTMENT FOCUS

    A well-diversified portfolio of high-conviction ideas following a growth-at-a-reasonable price style with a quality bias

    An investment philosophy based on our belief that stocks trading at a discount to their projected value have a greater potential for multiple expansion

    Individual stock selection as the primary source of alpha generation over the long term, due to a focus on seeking to identify high quality, attractively valued companies through our global research platform

    Fund Information

    • Fund Commencement 01/31/1996
    • Net Assets ($ M) As of 02/28/25 $25391.30
    • Fiscal Year End JUNE
    • Benchmark
      MSCI EAFE (Europe, Australasia, Far East) Value Index measures non-US value stocks.
      MSCI EAFE (Europe, Australasia, Far East) Index (net div)

    Share Class Information

    • Class Inception 02/08/2023
    • Net Asset Value (NAV) As of 03/14/25 $36.87
    • Most Recent NAV Change As of 03/14/25 $0.41 | 1.12%
    • Fund Number 860
    • Maximum Sales Charge --
    • Gross Expense Ratio

      Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
      0.79%
    • Net Expense Ratio

      Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.


      These reductions will continue until at least 10/31/25
      0.78%

    MANAGERS

    Filipe Benzinho
    Filipe Benzinho

    Portfolio Manager

    9 YEARS WITH PORTFOLIO

    Daniel Ling, CFA
    Daniel Ling, CFA

    Portfolio Manager

    15 YEARS WITH PORTFOLIO

    Effective June 30, 2026, Daniel Ling will retire from MFS and relinquish his portfolio management responsibilities.

    Top 10 Holdings

    As of 02/28/25
    • SAP SE
    • Air Liquide SA
    • Schneider Electric SE
    • Hitachi Ltd
    • Compass Group PLC
    • Cie Financiere Richemont SA
    • Roche Holding AG
    • Nestle SA
    • Deutsche Boerse AG
    • Sony Group Corp
    Full and Historical Holdings
    The portfolio is actively managed, and current holdings may be different.

    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.

    International: Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.

    Please see the prospectus for further information on these and other risk considerations.

  • Performance

    Performance

    Collapse Expand
    Average Annual Total Returns

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Monthly | Quarterly As of 12/31/24
     
    Life
    7.70
    -
    10 Yr.
    7.10
    5.20
    5 Yr.
    6.16
    4.73
    3 Yr.
    1.76
    1.65
    1 Yr.
    4.02
    3.82
    YTD
    4.02
    3.82
      Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.
      MORNINGSTAR RATING
      Morningstar Overall Rating As of 02/28/25 Class I Shares

      Morningstar Foreign Large Blend

      Morningstar ratings are based on risk adjusted performance.
      Morningstar View Overall Morningstar Ratings Information
      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      Morningstar Overall Rating As of 02/28/25 Class I Shares

      Morningstar Foreign Large Blend

      Morningstar ratings are based on risk adjusted performance.
      NA
      THREE YEAR
      Out Of Funds
      NA
      FIVE YEAR
      Out Of Funds
      NA
      TEN YEAR
      Out Of Funds
      NA

      Important Performance Information

      Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund's performance results would be less favorable. All results are historical and assume the reinvestment of dividends and capital gains.

      Sales Charges

      Class I shares are available without a sales charge to eligible investors.

      Performance for Class I shares for periods prior to their offering is derived from the performance of the fund's Class R6 shares, adjusted to take into account differences in sales loads and class-specific operating expenses, such as Rule 12b-1 fees and certain shareholder servicing (including sub-accounting) costs, if any. In addition, the performance shown for Class I shares for periods prior to their offering does not reflect any applicable fee reductions and waivers and expense reimbursements that were in effect prior to the offering of Class I shares. Please see the prospectus for additional information about performance and expenses.

      Annual Rate of Return

      Annual Rate of Return (%)

      As of 12/31/24 | Benchmark: MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      annual rate of return table
      2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
      At NAV 0.02 0.30 28.02 -10.66 28.40 11.10 15.16 -14.83 18.97 4.02
      MSCI EAFE (Europe, Australasia, Far East) Index (net div) -0.81 1.00 25.03 -13.79 22.01 7.82 11.26 -14.45 18.24 3.82
      At NAV MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      2024 4.02 3.82
      2023 18.97 18.24
      2022 -14.83 -14.45
      2021 15.16 11.26
      2020 11.1 7.82
      2019 28.4 22.01
      2018 -10.66 -13.79
      2017 28.02 25.03
      2016 0.3 1.0
      2015 0.02 -0.81
      Pricing & Distributions

      Pricing History

      • NAV at Close of Trading on:  03/14/25
      • Net Asset Value (NAV):  $36.87
      • Change ($) (since 03/13/25 ):  0.41
      • Change (%) (since 03/13/25 ):  1.12
      • 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

      Historical MP may not be available for all dates.

      Historical Exit Price Table
      NAV at Close of Trading on Net Asset Value (NAV)
      No Data Available

      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.

      Long-term Capital Gain The gain on the sale of a capital asset where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax. (Source: Barron's Dictionary of Finance and Investment Terms)

      Short-term Capital Gain For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. (Source: Barron's Dictionary of Finance and Investment Terms)

      Updated Daily As of 03/15/25

      Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$)
      12/16/24 12/17/24 12/18/24 Dividend 0.47534 34.67
      Past performance is no guarantee of future results. Please consult your tax advisor for further information.
    • Portfolio & Holdings Information

      Portfolio & Holdings Information
      Portfolio characteristic data are based on unaudited net assets.

      The portfolio is actively managed, and current holdings may be different.

      • Select All
      • Largest Sector Weights
      • Holding Characteristics
      • Performance Statistics
      • Top 10 Holdings
      • Type Of Holdings (%)
      • Sector Weights (%)
      • Region & Country
      • Top Country Weightings (%)
      Collapse Expand
      Sector, Holding & Characterstics

      Largest Sector Weights

      As of 02/28/25
      Chart
      Chart with 7 data points.
      The chart has 1 X axis displaying values. Range: 0 to 100.
      The chart has 1 Y axis displaying values. Range: 0 to 100.
      End of interactive chart.

      The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

      Map represents sectors greater than 5%.

      Holding Characteristics

      Weighted average price/earnings (P/E) ratio is the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted average of the P/E ratios of the securities held, excluding companies with projected negative earnings.

      Weighted Average Price/Cash Flow: Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.

      Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.

      Price/Book ratio (P/B) is the ratio of a stock's price to its book value per share.

      Weighted Average IBES Long Term EPS Growth is the weighted average forecast, by sell side analysts of how much a company's net income will grow over the long-term (typically 3-5 years). The forecast is derived from all polled analysts' estimates. Source FactSet. 

      Weighted Average Market Cap: Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.

      Weighted Median Market Cap: Weighted Median Market Cap is the Market Capitalization of the firm defined by the median dollar within the distribution of the market capitalization of all companies in the index or portfolio. It is calculated from a running total of market capitalizations from smallest company to largest. The Market Capitalization of the firm that sorts the total dollar value of all market capitalizations into two equal portions defines the value.

      As of 02/28/25
      Data table of holding characteristics
      characterstics Equity Earning
      Weighted Average Price/Earnings (next 12 months) 16.85x
      Weighted Average Price/Cash Flow 13.34x
      Weighted Average Price/Sales 2.00x
      Weighted Average Price/Book 2.56x
      Weighted Average IBES Long Term EPS Growth 11.02%
      Weighted Average Market Cap $123.6b
      Weighted Median Market Cap $79.7b
      Number of Issues 77
      Active Share

      Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
      		75.86%
      Portfolio Turnover

      Turnover Ratio is the percentage of a portfolio's securities that have changed over the course of a year: (lesser of purchases or sales)/average market value.
      		9.31%
      % in Stocks 98.62%
      % Cash & Cash Equivalents 1.38%
      % in Top Ten 25.20%

      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 02/28/25
      Benchmark
      MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha n/a n/a n/a
      Beta n/a n/a n/a
      R-squared n/a n/a n/a
      Standard Deviation % n/a n/a n/a
      Sharpe Ratio n/a n/a n/a
      Tracking Error n/a n/a n/a
      Information Ratio n/a n/a n/a
      Treynor Ratio n/a n/a n/a
      Downside Capture % n/a n/a n/a
      Upside Capture % n/a n/a n/a

      Top 10 Holdings

      As of 02/28/25
      • SAP SE
      • Air Liquide SA
      • Schneider Electric SE
      • Hitachi Ltd
      • Compass Group PLC
      • Cie Financiere Richemont SA
      • Roche Holding AG
      • Nestle SA
      • Deutsche Boerse AG
      • Sony Group Corp

      Full and Historical Holdings

      The portfolio is actively managed, and current holdings may be different.

      Type Of Holdings (%)

      As of 02/28/25
      Chart
      Bar chart with 2 data series.
      The chart has 1 X axis displaying values. Range: -0.5 to 0.5.
      The chart has 1 Y axis displaying values. Range: 0 to 100.
      End of interactive chart.
      • Stocks
        98.62
      • Cash & Cash Equivalents
        1.38

      Sector Weights (%)

      As of 02/28/25
      •  % Assets
      • Financials
        21.63
      • Industrials
        19.15
      • Consumer Discretionary
        13.07
      • Health Care
        12.47
      • Information Technology
        10.50
      • Consumer Staples
        9.25
      • Materials
        6.25
      • Energy
        2.55
      • Communication Services
        2.33
      • Utilities
        1.42
      • Cash & Cash Equivalents
        1.38

      The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

      Region & Country

      Region & Country

      As of 02/28/25
      Region & Country Table
      Region & Country % Assets
      Europe ex-U.K.
      10 Countries
      54.48
      Japan
      1 Countries
      17.02
      United Kingdom
      1 Countries
      12.40
      Emerging Markets
      4 Countries
      6.16
      North America
      2 Countries
      4.58
      Asia/Pacific ex-Japan
      2 Countries
      2.78
      Cash & Cash Equivalents
      1 Countries
      1.38
      Developed - Middle East/Africa
      1 Countries
      1.20
      By Country Table
      By Country

      Top Country Weightings (%)

      As of 02/28/25
      • France
        17.69
      • Japan
        17.02
      • Switzerland
        14.48
      • United Kingdom
        12.40
      • Germany
        9.67
      • Canada
        3.51
      • Denmark
        2.96
      • Italy
        2.66
      • Ireland
        2.58
      • China
        2.33
      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.

    • Fees

      Fees

      • 0.78 % Net Expense Ratio

        Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.


        These reductions will continue until at least 10/31/25
      • 0.79 % Gross Expense Ratio

        Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
      • - Maximum Sales Charge

        Class I shares are available without a sales charge to eligible investors.
    • Resources

      Resources

      Collapse Expand
      Product Resources

      Fact Sheets are available approximately 15 days after quarter end.


      Full Holdings available approximately 19 or 24 days after month end.
      Prospectuses & SAIs
      Shareholder Reports

      Shareholder Reports

      Click here to access the following:
      • Semiannual Report
      • Annual Report
      • Financial and Other Information
      • First Quarter Holdings
      • Third Quarter Holdings
      Product Literature

      Product Literature

      MFS International Capabilities Comparison Flyer
      As of Dec 31, 2024

      A Range of International Funds to Fit Your Allocation Needs

      MFS International Equity Fund: Outperformed Across Diverse Markets
      As of Dec 31, 2024

      See how MFS International Equity Fund has achieved active outperformance over the long term

      2025 Dividend and Capital Gains Schedule
      As of Jan 07, 2025

      Why a multi-asset approach could matter
      As of May 30, 2024

      Flyer describing potential benefits of multi-asset investing and highlighting several MFS Funds

      Announcements

      Announcements

      Barron's Box Flyer
      As of Mar 06, 2025

      Flyer showing MFS' annual rankings from Barron's since 2008.

      Portfolio Management Transitions – International Equity Strategies
      As of Feb 13, 2025

      Client notice of upcoming PM transitions

      2024 Capital Gain Estimates (Retail)
      As of Nov 08, 2024

      This website is a general communication and is provided for informational and/or educational purposes only. None of the content should be viewed as a suggestion that you take or refrain from taking any action nor as a recommendation for any specific investment product, strategy, plan feature or other such purpose. Your use of this website indicates that you agree with the intended purpose. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation.

      The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available online here or by contacting MFS. Consider the fund's investment objectives, risks, charges, and expenses, and otherwise read these documents carefully before you invest. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the funds involve investment risk, including possible loss of principal. 

      MFS registered investment products are offered through MFS® Fund Distributors, Inc., Member SIPC, 111 Huntington Avenue, Boston, MA 02199.
    close video