INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
Our valuation approach is flexible, but places a strong emphasis on cash flow and returns-based methodologies
We focus on downside risk management at the individual security level
We leverage our bottom-up, global research platform to try to identify attractively valued, high quality companies and companies that we believe have potential for improvement and/or low market expectations
Fund Information
- Fund Commencement 08/31/2001
- Net Assets ($ M) As of 10/31/24 $17709.08
- Fiscal Year End SEPTEMBER
-
Benchmark
Russell Midcap Value Index measures U.S. mid-cap value stocks.Russell Midcap® Value Index
Share Class Information
- Class Inception 02/01/2013
- Net Asset Value (NAV) As of 11/29/24 $37.87
- Most Recent NAV Change As of 11/29/24 $0.07 | 0.19%
- Fund Number 4837
- Maximum Sales Charge --
-
Gross Expense Ratio
0.63%
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
0.62%
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 01/31/25
Class R6 shares are available without a sales charge to eligible investors.
MANAGERS
Top 10 Holdings
- PG&E Corp
- Hartford Financial Services Group Inc
- M&T Bank Corp
- Raymond James Financial Inc
- Leidos Holdings Inc
- Cencora Inc
- Public Service Enterprise Group Inc
- Toll Brothers Inc
- Targa Resources Corp
- Graphic Packaging Holding Co
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.
Mid-cap: Investments in mid-cap companies can be more volatile than investments in larger companies.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Please see the prospectus for further information on these and other risk considerations.
Richard Offen
Portfolio Manager
Richard L. Offen is an investment officer and equity portfolio manager for the US Small Cap Value and US Mid Cap Value 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. Richard joined MFS in 2011 as an equity research analyst, following his participation in the firm's Summer MBA Internship program in 2010. He assumed portfolio management responsibilities in 2019. He previously worked as an investment banking associate at Stifel, Nicolaus and Co., Inc. for one year and as an associate and analyst in investment banking at FBR Capital Markets for three years. He began his career in the financial services industry in 2005. Richard earned a Bachelor of Arts degree in history from Davidson College and holds a Master of Business Administration degree in corporate finance and investment management from the University of Virginia.
Kevin Schmitz
Portfolio Manager
Kevin J. Schmitz is an investment officer and equity portfolio manager for the Mid Cap Value and New Discovery Value 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. Kevin joined MFS in 2002 as an equity research analyst. He took on co--portfolio management duties in 2009 before assuming his current role in 2011. Prior to joining the firm, he was a financial analyst and vice president of business development for Fidelity Investments. He began his career in the financial services industry in 1995. Kevin earned a Bachelor of Business Administration degree in finance from the University of Michigan.
Brooks Taylor
Portfolio Manager
Brooks Taylor is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). In this role, he responsible for final buy and sell decisions, portfolio construction and risk and cash management. Additionally, he participates in the research process and strategy discussions. Brooks joined MFS in 1996 as an equity research analyst and assumed portfolio management responsibilities in 2000. Prior to joining the firm, he worked as an analyst for Lodestar Group, a subsidiary of Société Générale; Fidelity Management and Research Company; and Salomon Brothers. Brooks earned a Bachelor of Arts degree in economics from Yale University and a Master of Business Administration degree from the Wharton School of the University of Pennsylvania.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class R6 shares are available without a sales charge to eligible investors.
Annual Rate of Return (%)
As of 12/31/23 | Benchmark: Russell Midcap® Value Index| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 10.29 | -2.14 | 15.86 | 13.84 | -11.31 | 31.08 | 4.40 | 31.00 | -8.64 | 12.92 |
| Russell Midcap® Value Index | 14.75 | -4.78 | 20.00 | 13.34 | -12.29 | 27.06 | 4.96 | 28.34 | -12.03 | 12.71 |
| At NAV | Russell Midcap® Value Index | |
|---|---|---|
| 2023 | 12.92 | 12.71 |
| 2022 | -8.64 | -12.03 |
| 2021 | 31.0 | 28.34 |
| 2020 | 4.4 | 4.96 |
| 2019 | 31.08 | 27.06 |
| 2018 | -11.31 | -12.29 |
| 2017 | 13.84 | 13.34 |
| 2016 | 15.86 | 20.0 |
| 2015 | -2.14 | -4.78 |
| 2014 | 10.29 | 14.75 |
Pricing History
- NAV at Close of Trading on: 11/29/24
- Net Asset Value (NAV): $37.87
- Change ($) (since 11/27/24 ): 0.07
- Change (%) (since 11/27/24 ): 0.19
- Market Price (MP):
Historical NAV may not be available for all dates.
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)
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 11/30/24
| Record Date | Ex-Date | Payable Date | Type of Earnings | Rate per Share (US$) | Reinvestment NAV (US$) |
|---|---|---|---|---|---|
| 12/11/23 | 12/12/23 | 12/13/23 | Long Term Capital Gain | 0.43274 | 29.48 |
| 12/11/23 | 12/12/23 | 12/13/23 | Dividend | 0.48985 | 29.48 |
-
Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
Our valuation approach is flexible, but places a strong emphasis on cash flow and returns-based methodologies
We focus on downside risk management at the individual security level
We leverage our bottom-up, global research platform to try to identify attractively valued, high quality companies and companies that we believe have potential for improvement and/or low market expectations
Fund Information
- Fund Commencement 08/31/2001
- Net Assets ($ M) As of 10/31/24 $17709.08
- Fiscal Year End SEPTEMBER
-
Benchmark
Russell Midcap Value Index measures U.S. mid-cap value stocks.Russell Midcap® Value Index
Share Class Information
- Class Inception 02/01/2013
- Net Asset Value (NAV) As of 11/29/24 $37.87
- Most Recent NAV Change As of 11/29/24 $0.07 | 0.19%
- Fund Number 4837
- Maximum Sales Charge --
-
Gross Expense Ratio
0.63%
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
0.62%
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 01/31/25
Class R6 shares are available without a sales charge to eligible investors.
MANAGERS
Top 10 Holdings
As of 10/31/24- PG&E Corp
- Hartford Financial Services Group Inc
- M&T Bank Corp
- Raymond James Financial Inc
- Leidos Holdings Inc
- Cencora Inc
- Public Service Enterprise Group Inc
- Toll Brothers Inc
- Targa Resources Corp
- Graphic Packaging Holding Co
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.
Mid-cap: Investments in mid-cap companies can be more volatile than investments in larger companies.
Value: The portfolio's investments can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.
Please see the prospectus for further information on these and other risk considerations.
Richard Offen
Portfolio Manager
17YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIORichard L. Offen is an investment officer and equity portfolio manager for the US Small Cap Value and US Mid Cap Value 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. Richard joined MFS in 2011 as an equity research analyst, following his participation in the firm's Summer MBA Internship program in 2010. He assumed portfolio management responsibilities in 2019. He previously worked as an investment banking associate at Stifel, Nicolaus and Co., Inc. for one year and as an associate and analyst in investment banking at FBR Capital Markets for three years. He began his career in the financial services industry in 2005. Richard earned a Bachelor of Arts degree in history from Davidson College and holds a Master of Business Administration degree in corporate finance and investment management from the University of Virginia.
Kevin Schmitz
Portfolio Manager
30YEARS WITH INDUSTRY
16YEARS WITH PORTFOLIOKevin J. Schmitz is an investment officer and equity portfolio manager for the Mid Cap Value and New Discovery Value 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. Kevin joined MFS in 2002 as an equity research analyst. He took on co--portfolio management duties in 2009 before assuming his current role in 2011. Prior to joining the firm, he was a financial analyst and vice president of business development for Fidelity Investments. He began his career in the financial services industry in 1995. Kevin earned a Bachelor of Business Administration degree in finance from the University of Michigan.
Brooks Taylor
Portfolio Manager
31YEARS WITH INDUSTRY
16YEARS WITH PORTFOLIOBrooks Taylor is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). In this role, he responsible for final buy and sell decisions, portfolio construction and risk and cash management. Additionally, he participates in the research process and strategy discussions. Brooks joined MFS in 1996 as an equity research analyst and assumed portfolio management responsibilities in 2000. Prior to joining the firm, he worked as an analyst for Lodestar Group, a subsidiary of Société Générale; Fidelity Management and Research Company; and Salomon Brothers. Brooks earned a Bachelor of Arts degree in economics from Yale University and a Master of Business Administration degree from the Wharton School of the University of Pennsylvania.
-
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 11/29/24 , 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.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 R6 shares are available without a sales charge to eligible investors.
Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/23 | Benchmark: Russell Midcap® Value Indexannual rate of return table 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 At NAV 10.29 -2.14 15.86 13.84 -11.31 31.08 4.40 31.00 -8.64 12.92 Russell Midcap® Value Index 14.75 -4.78 20.00 13.34 -12.29 27.06 4.96 28.34 -12.03 12.71 At NAV Russell Midcap® Value Index 2023 12.92 12.71 2022 -8.64 -12.03 2021 31.0 28.34 2020 4.4 4.96 2019 31.08 27.06 2018 -11.31 -12.29 2017 13.84 13.34 2016 15.86 20.0 2015 -2.14 -4.78 2014 10.29 14.75 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 11/29/24
- Net Asset Value (NAV): $37.87
- Change ($) (since 11/27/24 ): 0.07
- Change (%) (since 11/27/24 ): 0.19
- 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.
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 11/30/24
Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$) 12/11/23 12/12/23 12/13/23 Long Term Capital Gain 0.43274 29.48 12/11/23 12/12/23 12/13/23 Dividend 0.48985 29.48 Past performance is no guarantee of future results. Please consult your tax advisor for further information.