| Without Waiver | 1.61 % |
| With Waiver | 1.62 % |
INVESTMENT OBJECTIVE
Seeks total return.
INVESTMENT FOCUS
Flexibility to own bonds and convertibles
Focuses on utility stocks believed to have strong growth prospects
Invest at least 80% of our assets in utilities and related securities
Fund Information
- Fund Commencement 02/14/1992
- Net Assets ($ M) As of 11/30/24 $2760.98
- Fiscal Year End OCTOBER
-
Benchmark
Standard & Poor's 500 Utilities Index
Standard & Poor's 500 Utilities Index measures the utilities sector.
Share Class Information
- Class Inception 02/14/1992
- Net Asset Value (NAV) As of 12/26/24 $22.60
- Most Recent NAV Change As of 12/26/24 $0.03 | 0.13%
- Fund Number 35
- Maximum Sales Charge 5.75%
-
Gross Expense Ratio
1.03%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
1.02%
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 02/28/25
MANAGERS
Top 10 Holdings
- NextEra Energy Inc
- PG&E Corp
- Constellation Energy Corp
- Xcel Energy Inc
- Sempra
- DTE Energy Co
- Ameren Corp
- Edison International
- Dominion Energy Inc
- PPL Corp
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.
Utilities: Investments in the utilities sector can be very volatile because of supply and/or demand for services or fuel, financing costs, conservation efforts, the negative impact of regulation, and other factors.
Please see the prospectus for further information on these and other risk considerations.
Claud Davis, CFA
Portfolio Manager
Claud P. Davis, CFA, is an investment officer and equity portfolio manager for the Utility strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Claud joined MFS in 1989 as a management analyst in the Internal Consulting Department. He was named a senior manager in that area in 1992, a credit analyst in 1994 and an equity research analyst in 2000. He assumed portfolio management responsibilities in 2014. He previously worked for KPMG Peat Marwick as a senior associate before joining MFS. He began his career in the financial services industry in 1985. Claud earned a Bachelor of Science degree in business administration and economics from Lehigh University and a Master of Business Administration degree in finance and strategy from the Carroll School of Management at Boston College, where he received the Award for Outstanding Academic Performance. He holds the Chartered Financial Analyst (CFA) designation.
J. Scott Walker, CFA
Portfolio Manager
J. Scott Walker, CFA, is an investment officer, portfolio manager and equity research analyst at MFS Investment Management® (MFS®). As a portfolio manager, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe, which currently includes the telecom/cable and energy sectors. He also works closely with other MFS portfolio managers to ensure investment ideas are properly positioned within portfolios. Scott joined MFS in 2008 after participating in the firm's MBA internship program in 2007. He was named a portfolio manager in 2017 on the MFS® Utilities Fund team and joined the Global Infrastructure portfolio management team in April 2019. Prior to his career in the financial service industry, he worked in the media and entertainment industries for three years and in education for five years. Scott earned a Bachelor of Arts degree from Stanford University and a Master of Business Administration degree from the University of Pennsylvania. He holds the Chartered Financial Analyst designation.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class A shares ("A") results include the maximum sales charge.
Annual Rate of Return (%)
As of 12/31/23 | Benchmark: Standard & Poor's 500 Utilities Index| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 12.58 | -14.77 | 11.40 | 14.68 | 0.85 | 24.89 | 6.02 | 13.85 | 0.44 | -2.25 |
| With Sales Charge | 6.10 | -19.67 | 4.99 | 8.09 | -4.95 | 17.71 | -0.08 | 7.30 | -5.34 | -7.87 |
| Standard & Poor's 500 Utilities Index | 28.98 | -4.85 | 16.29 | 12.11 | 4.11 | 26.35 | 0.48 | 17.67 | 1.57 | -7.08 |
| At NAV | With Sales Charge | Standard & Poor's 500 Utilities Index | |
|---|---|---|---|
| 2023 | -2.25 | -7.87 | -7.08 |
| 2022 | 0.44 | -5.34 | 1.57 |
| 2021 | 13.85 | 7.3 | 17.67 |
| 2020 | 6.02 | -0.08 | 0.48 |
| 2019 | 24.89 | 17.71 | 26.35 |
| 2018 | 0.85 | -4.95 | 4.11 |
| 2017 | 14.68 | 8.09 | 12.11 |
| 2016 | 11.4 | 4.99 | 16.29 |
| 2015 | -14.77 | -19.67 | -4.85 |
| 2014 | 12.58 | 6.1 | 28.98 |
Pricing History
- NAV at Close of Trading on: 12/26/24
- Net Asset Value (NAV): $22.60
- Change ($) (since 12/24/24 ): 0.03
- Change (%) (since 12/24/24 ): 0.13
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Distribution Rates (%)
The distribution rates are computed by annualizing the current distribution rate per share (excluding short-term capital gains), and dividing the result by the public offering price (for the distribution rate including sales charge) or net asset value (for the distribution rate not including sales charge) at the end of the business day.
The distribution rates are computed by annualizing the current distribution rate per share (excluding short-term capital gains), and dividing the result by the public offering price (for the distribution rate including sales charge) or net asset value (for the distribution rate not including sales charge) at the end of the business day.
As of 11/30/24
| Charges | Distribution Rate |
| Not Including Sales Charges | 1.71 |
| Including Sales Charges | 1.61 |
30-Day SEC Yield (%)
The fund's 30-day yield is based on the yield of a fund's investments over a 30-day period and not on the dividend paid by the fund, which may differ.
As of 11/30/24
| Wavier | Yield Value |
| Without Waiver | 1.61 |
| With Waiver | 1.62 |
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)
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 12/27/24
| Record Date | Ex-Date | Payable Date | Type of Earnings | Rate per Share (US$) | Reinvestment NAV (US$) |
|---|---|---|---|---|---|
| 12/11/24 | 12/12/24 | 12/13/24 | Dividend | 0.14211 | 22.91 |
| 12/11/24 | 12/12/24 | 12/13/24 | Long Term Capital Gain | 0.36559 | 22.91 |
| 09/25/24 | 09/26/24 | 09/27/24 | Dividend | 0.10620 | 24.60 |
| 06/24/24 | 06/25/24 | 06/26/24 | Dividend | 0.12805 | 21.45 |
| 03/25/24 | 03/26/24 | 03/27/24 | Dividend | 0.09421 | 20.03 |
-
Overview
INVESTMENT OBJECTIVE
Seeks total return.
INVESTMENT FOCUS
Flexibility to own bonds and convertibles
Focuses on utility stocks believed to have strong growth prospects
Invest at least 80% of our assets in utilities and related securities
Fund Information
- Fund Commencement 02/14/1992
- Net Assets ($ M) As of 11/30/24 $2760.98
- Fiscal Year End OCTOBER
-
Benchmark
Standard & Poor's 500 Utilities Index
Standard & Poor's 500 Utilities Index measures the utilities sector.
Share Class Information
- Class Inception 02/14/1992
- Net Asset Value (NAV) As of 12/26/24 $22.60
- Most Recent NAV Change As of 12/26/24 $0.03 | 0.13%
- Fund Number 35
- Maximum Sales Charge 5.75%
-
Gross Expense Ratio
1.03%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
1.02%
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 02/28/25
MANAGERS
Top 10 Holdings
As of 11/30/24- NextEra Energy Inc
- PG&E Corp
- Constellation Energy Corp
- Xcel Energy Inc
- Sempra
- DTE Energy Co
- Ameren Corp
- Edison International
- Dominion Energy Inc
- PPL Corp
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.
Utilities: Investments in the utilities sector can be very volatile because of supply and/or demand for services or fuel, financing costs, conservation efforts, the negative impact of regulation, and other factors.
Please see the prospectus for further information on these and other risk considerations.
Claud Davis, CFA
Portfolio Manager
39YEARS WITH INDUSTRY
11YEARS WITH PORTFOLIOClaud P. Davis, CFA, is an investment officer and equity portfolio manager for the Utility strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions. Claud joined MFS in 1989 as a management analyst in the Internal Consulting Department. He was named a senior manager in that area in 1992, a credit analyst in 1994 and an equity research analyst in 2000. He assumed portfolio management responsibilities in 2014. He previously worked for KPMG Peat Marwick as a senior associate before joining MFS. He began his career in the financial services industry in 1985. Claud earned a Bachelor of Science degree in business administration and economics from Lehigh University and a Master of Business Administration degree in finance and strategy from the Carroll School of Management at Boston College, where he received the Award for Outstanding Academic Performance. He holds the Chartered Financial Analyst (CFA) designation.
J. Scott Walker, CFA
Portfolio Manager
16YEARS WITH INDUSTRY
7YEARS WITH PORTFOLIOJ. Scott Walker, CFA, is an investment officer, portfolio manager and equity research analyst at MFS Investment Management® (MFS®). As a portfolio manager, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. As an analyst, he is responsible for identifying the most attractive investment opportunities in his assigned universe, which currently includes the telecom/cable and energy sectors. He also works closely with other MFS portfolio managers to ensure investment ideas are properly positioned within portfolios. Scott joined MFS in 2008 after participating in the firm's MBA internship program in 2007. He was named a portfolio manager in 2017 on the MFS® Utilities Fund team and joined the Global Infrastructure portfolio management team in April 2019. Prior to his career in the financial service industry, he worked in the media and entertainment industries for three years and in education for five years. Scott earned a Bachelor of Arts degree from Stanford University and a Master of Business Administration degree from the University of Pennsylvania. He holds the Chartered Financial Analyst designation.
-
Performance
Performance
Average Annual Total ReturnsAverage 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 12/26/24 , 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.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 A shares ("A") results include the maximum sales charge.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/23 | Benchmark: Standard & Poor's 500 Utilities Indexannual rate of return table 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 At NAV 12.58 -14.77 11.40 14.68 0.85 24.89 6.02 13.85 0.44 -2.25 With Sales Charge 6.10 -19.67 4.99 8.09 -4.95 17.71 -0.08 7.30 -5.34 -7.87 Standard & Poor's 500 Utilities Index 28.98 -4.85 16.29 12.11 4.11 26.35 0.48 17.67 1.57 -7.08 At NAV With Sales Charge Standard & Poor's 500 Utilities Index 2023 -2.25 -7.87 -7.08 2022 0.44 -5.34 1.57 2021 13.85 7.3 17.67 2020 6.02 -0.08 0.48 2019 24.89 17.71 26.35 2018 0.85 -4.95 4.11 2017 14.68 8.09 12.11 2016 11.4 4.99 16.29 2015 -14.77 -19.67 -4.85 2014 12.58 6.1 28.98 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 12/26/24
- Net Asset Value (NAV): $22.60
- Change ($) (since 12/24/24 ): 0.03
- Change (%) (since 12/24/24 ): 0.13
- 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.
Distribution Rates (%)
The distribution rates are computed by annualizing the current distribution rate per share (excluding short-term capital gains), and dividing the result by the public offering price (for the distribution rate including sales charge) or net asset value (for the distribution rate not including sales charge) at the end of the business day.
As of 11/30/24
Charges Distribution Rate Not Including Sales Charges 1.71 Including Sales Charges 1.61 30-Day SEC Yield (%)
The fund's 30-day yield is based on the yield of a fund's investments over a 30-day period and not on the dividend paid by the fund, which may differ.As of 11/30/24
Wavier Yield Value Without Waiver 1.61 With Waiver 1.62 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 12/27/24
Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$) 12/11/24 12/12/24 12/13/24 Dividend 0.14211 22.91 12/11/24 12/12/24 12/13/24 Long Term Capital Gain 0.36559 22.91 09/25/24 09/26/24 09/27/24 Dividend 0.10620 24.60 06/24/24 06/25/24 06/26/24 Dividend 0.12805 21.45 03/25/24 03/26/24 03/27/24 Dividend 0.09421 20.03 Past performance is no guarantee of future results. Please consult your tax advisor for further information.