6 9

International Intrinsic Value Fund

DISCLOSURES

Effective May 29, 2015, the fund closed to new investors subject to certain exceptions. Please see the prospectus for additional information.

MINIX
$ 44.57
$0.12 As of 12/13/24
$21.6B
As of 11/30/24
Morningstar
View Overall Morningstar Ratings Information

International Intrinsic Value Fund

MINIX
$0.12 As of 12/13/24
As of 11/30/24
MINIX
$ 44.57
$0.12 As of 12/13/24
$21.6B
As of 11/30/24
Morningstar
View Overall Morningstar Ratings Information
  • Overview

    INVESTMENT OBJECTIVE

    Seeks capital appreciation.

    INVESTMENT FOCUS

    Focuses on international companies believed to be undervalued compared to their intrinsic value

    Seeks an advantage by evaluating the long-term quality, durability, improvement potential and intrinsic value of businesses

    Fund Information

    • Fund Commencement 10/24/1995
    • Net Assets ($ M) As of 11/30/24 $21667.85
    • Fiscal Year End MAY
    • 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 01/02/1997
    • Net Asset Value (NAV) As of 12/13/24 $44.57
    • Most Recent NAV Change As of 12/13/24 $0.12 | 0.27%
    • Fund Number 887
    • 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.

      0.81%
    • 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 09/30/25

      0.80%

    MANAGERS

    Top 10 Holdings

    • Taiwan Semiconductor Manufacturing Co Ltd ADR
    • Schneider Electric SE
    • NatWest Group PLC
    • Franco-Nevada Corp
    • TotalEnergies SE
    • Resona Holdings Inc
    • Legrand SA
    • Deutsche Boerse AG
    • SAP SE
    • AIB Group PLC

    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.

    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.

    Intrinsic Value: The stocks of companies that MFS believes are undervalued compared to their intrinsic value can continue to be undervalued for long periods of time, may not realize their expected value, and can be volatile.

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

  • Performance

    Performance

    Average Annual Total Returns

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Monthly | Quarterly As of 09/30/24 (*YTD Updated Daily, As of 12/13/24 , subject to revision and not annualized.)
      The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
      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 11/30/24 Class I Shares

      Morningstar Foreign Large Growth

      Morningstar ratings are based on risk adjusted performance.

      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      Morningstar Overall Rating As of 11/30/24 Class I Shares

      Morningstar Foreign Large Growth

      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 information shown for periods prior to November 30, 1998, reflects periods when a subadvisor (Foreign & Colonial Management Ltd. and its subsidiary Foreign and Colonial Emerging Markets Ltd.) was responsible for selecting investments for the fund. 

      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.

      Annual Rate of Return

      Annual Rate of Return (%)

      As of 12/31/23 | Benchmark: MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      annual rate of return table
      2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
      At NAV 1.52 6.77 4.18 27.15 -9.01 25.88 20.44 10.59 -23.08 17.92
      MSCI EAFE (Europe, Australasia, Far East) Index (net div) -4.90 -0.81 1.00 25.03 -13.79 22.01 7.82 11.26 -14.45 18.24
      At NAV MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      2023 17.92 18.24
      2022 -23.08 -14.45
      2021 10.59 11.26
      2020 20.44 7.82
      2019 25.88 22.01
      2018 -9.01 -13.79
      2017 27.15 25.03
      2016 4.18 1.0
      2015 6.77 -0.81
      2014 1.52 -4.9
      Pricing & Distributions

      Pricing History

      • Market Price (MP): 
      Maximum data displayed is for the most recent 10 years
      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.

      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 12/14/24

      Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$)
      12/18/23 12/19/23 12/20/23 Dividend 0.78589 39.84
      12/18/23 12/19/23 12/20/23 Long Term Capital Gain 3.72883 39.84
      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.

      Sector, Holding & Characterstics

      Largest Sector Weights

      As of 11/30/24

      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 11/30/24
      Data table of holding characteristics
      characterstics Equity Earning
      Weighted Average Price/Earnings (next 12 months) 15.06x
      Weighted Average Price/Cash Flow 10.97x
      Weighted Average Price/Sales 1.91x
      Weighted Average Price/Book 1.99x
      Weighted Average IBES Long Term EPS Growth 10.30%
      Weighted Average Market Cap $87.9b
      Weighted Median Market Cap $35.8b
      Number of Issues 90
      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.

      86.32%
      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.

      12.48%
      % in Stocks 96.04%
      % Cash & Cash Equivalents 3.96%
      % in Top Ten 26.20%

      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 11/30/24
      Benchmark
      MSCI EAFE (Europe, Australasia, Far East) Index (net div)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha 3.48 1.41 -2.55
      Beta 0.82 0.86 1.01
      R-squared 81.80 83.64 89.97
      Standard Deviation % 13.80 16.69 18.14
      Sharpe Ratio 0.44 0.24 -0.14
      Tracking Error 6.51 7.22 5.75
      Information Ratio 0.41 0.08 -0.48
      Treynor Ratio 7.40 4.74 -2.44
      Downside Capture % 75.50 88.49 104.99
      Upside Capture % 90.98 92.58 93.89

      Top 10 Holdings

      As of 11/30/24
      • Taiwan Semiconductor Manufacturing Co Ltd ADR
      • Schneider Electric SE
      • NatWest Group PLC
      • Franco-Nevada Corp
      • TotalEnergies SE
      • Resona Holdings Inc
      • Legrand SA
      • Deutsche Boerse AG
      • SAP SE
      • AIB Group PLC
      The portfolio is actively managed, and current holdings may be different.

      Type Of Holdings (%)

      As of 11/30/24

      Sector Weights (%)

      As of 11/30/24
      •  % Assets
      • Financials
        23.79
      • Industrials
        19.64
      • Information Technology
        15.05
      • Materials
        11.02
      • Consumer Staples
        10.29
      • Health Care
        7.68
      • Energy
        6.11
      • Consumer Discretionary
        2.45
      • Cash & Cash Equivalents
        3.96

      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 11/30/24
      Region & Country Table
      Region & Country % Assets
      Europe ex-U.K.
      11 Countries
      44.03
      United Kingdom
      1 Countries
      17.90
      Japan
      1 Countries
      13.54
      North America
      2 Countries
      12.34
      Emerging Markets
      4 Countries
      6.37
      Cash & Cash Equivalents
      1 Countries
      3.96
      Asia/Pacific ex-Japan
      1 Countries
      1.26
      Developed - Middle East/Africa
      1 Countries
      0.60
      By Country Table
      By Country

      Top Country Weightings (%)

      As of 11/30/24
      • United Kingdom
        17.90
      • France
        15.73
      • Japan
        13.54
      • Germany
        7.74
      • United States
        7.29
      • Switzerland
        7.10
      • Canada
        5.05
      • Ireland
        4.22
      • Spain
        4.00
      • Cash & Cash Equivalents
        3.96
      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

      • 0.80 % 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 09/30/25

      • 0.81 % 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

      Product Resources

      Fact Sheets are available approximately 15 days after quarter end.


      Full Holdings available approximately 19 or 24 days after month end.

      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

      One World: Diversify Internationally

      Brochure highlighting MFS' international equity funds

      Market Declines: A History of Recoveries

      Flyer showing market declines over time and how recoveries have played out over the long-term.

      International Diversification - 20 Years of the Best and Worst

      Highlights the importance of international diversification.

      MFD All Star Flyer

      See the results of our collaborative approach for MFS' "All Star" portfolios.

      MFD All Star Flyer I

      See the results of our collaborative approach for MFS' "All Star" portfolios.

      The Power of Active Management brochure

      Collective expertise, long-term discipline and risk management

      Why a multi-asset approach could matter

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

      MFS Flexible Pricing Options (Public)

      Public-approved pricing flyer

      Barron's Box Flyer

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

      2024 Dividend and Capital Gains Schedule

      Investment Insights

      Investment Insights

      One World: Diversify Internationally

      Brochure highlighting MFS' international equity funds

      Announcements

      Announcements

      MORNINGSTAR RATINGS

      The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 11/30/24.

      The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

      Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. Rankings of other share classes may vary. A high relative ranking does not always mean the fund achieved a positive return during the period.

      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.

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