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Research Core SMA

01/01/1989

Research Core SMA

01/01/1989
01/01/1989
  • Overview

    INVESTMENT OBJECTIVE

    Seeks to provide long-term growth of capital.

    INVESTMENT FOCUS

    Analyst-run core stock portfolio that is diversified by sector with the flexibility to invest across industries and styles and seeks to add value through stock selection

    Managed generally as sector neutral to the S&P 500 Stock Index

    Strategy Information

    • Strategy Commencement 01/01/1989
    • Benchmark

      Standard & Poor's 500 Stock Index measures the broad U.S. stock market.
      Standard & Poor's 500 Stock Index

    MANAGERS

    Team of Investment Professionals
    Team of Investment Professionals
    Jed Stocks, CFA
    Jed Stocks, CFA

    General Oversight

    3 YEARS WITH PORTFOLIO

    Joseph MacDougall, CFA
    Joseph MacDougall, CFA

    General Oversight

    3 YEARS WITH PORTFOLIO

    Top 10 Holdings

    As of 03/31/25
    • Microsoft Corp
    • Amazon.com Inc
    • NVIDIA Corp
    • Meta Platforms Inc
    • Visa Inc
    • Apple Inc
    • Alphabet Inc Class A
    • JPMorgan Chase & Co
    • Salesforce Inc
    • Chubb Ltd
    Full and Historical Holdings

    Important Risk Considerations

    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, and other conditions.

  • Performance

    Performance

    Collapse Expand
    Average Annual Total Returns

    Average Annual Total Returns (%)

    Monthly | Quarterly As of 03/31/25 (*YTD Updated Monthly, As of 03/31/25 , subject to revision and not annualized.)
      MORNINGSTAR RATING
      Morningstar View Overall Morningstar Ratings Information
      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      NA
      THREE YEAR
      Out Of Funds
      NA
      FIVE YEAR
      Out Of Funds
      NA
      TEN YEAR
      Out Of Funds
      NA

      Important Performance Information

      Past performance is no guarantee of future results.

      Net numbers assume a maximum wrap fee of 3% annually.

      This SMA strategy is implemented through a wrap sponsor program for retail investors. Prior to 1/1/2022 no portfolios were managed under this strategy. Performance shown includes that of a separate but substantially similar strategy with certain differences in implementation designed for institutional clients investing directly with MFS.

      Total gross of fee returns include both capital appreciation and reinvestment of income but exclude custody fees.

      It is not possible to invest directly in an index. Index performance will differ from our actively managed strategies, which may involve a higher degree of risk.

      Performance reflects that of a fully discretionary composite; individual portfolio results will vary.

      Annual Rate of Return

      Annual Rate of Return (%)

      Benchmark: Standard & Poor's 500 Stock Index
      annual rate of return table
      2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
      Gross of Fees 1.68 9.63 24.35 -3.73 34.08 17.53 25.70 -14.81 24.88 19.80
      Net of Fees -1.33 6.41 20.74 -6.59 30.21 14.09 22.05 -17.37 21.25 16.30
      Standard & Poor's 500 Stock Index 1.38 11.96 21.83 -4.38 31.49 18.40 28.71 -18.11 26.29 25.02
      at NAV Standard & Poor's 500 Stock Index
      2024 19.8 25.02
      2023 24.88 26.29
      2022 -14.81 -18.11
      2021 25.7 28.71
      2020 17.53 18.4
      2019 34.08 31.49
      2018 -3.73 -4.38
      2017 24.35 21.83
      2016 9.63 11.96
      2015 1.68 1.38

      Past performance is no guarantee of future results.

      Net numbers assume a maximum wrap fee of 3% annually.

    • Portfolio & Holdings Information

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

      • 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 03/31/25

      The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.  

      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 03/31/25
      Data table of holding characteristics
      characterstics Equity Earning
      Weighted Average Price/Earnings (next 12 months) 20.56x
      Weighted Average Price/Cash Flow 18.36x
      Weighted Average Price/Sales 2.68x
      Weighted Average Price/Book 4.35x
      Weighted Average IBES Long Term EPS Growth 13.39%
      Weighted Average Market Cap $813.0b
      Weighted Median Market Cap $149.2b
      Number of Issues 63
      % in Stocks 98.64%
      % Cash & Cash Equivalents 1.36%
      % in Top Ten 39.90%

      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.

      Updated Monthly As of 03/31/25
      Benchmark
      Standard & Poor's 500 Stock Index
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.

      Top 10 Holdings

      As of 03/31/25
      • Microsoft Corp
      • Amazon.com Inc
      • NVIDIA Corp
      • Meta Platforms Inc
      • Visa Inc
      • Apple Inc
      • Alphabet Inc Class A
      • JPMorgan Chase & Co
      • Salesforce Inc
      • Chubb Ltd

      Full and Historical Holdings

      Type Of Holdings (%)

      As of 03/31/25

      Sector Weights (%)

      As of 03/31/25
      •  % Assets
      • Technology
        29.87
      • Financial Services
        14.72
      • Capital Goods
        12.27
      • Health Care
        11.90
      • Consumer Cyclicals
        9.85
      • Communication Services
        9.69
      • Energy
        6.59
      • Consumer Staples
        3.74
      • Cash & Cash Equivalents
        1.36

      The sectors described and the associated portfolio composition are based on MFS' own sector classification methodology which differs from industry classification standards, including the standard that is associated with the benchmark composition presented. The variance in sector weights between the portfolio and the benchmark would be different if an industry classification standard was used.  

      Region & Country

      Region & Country

      As of 03/31/25
      Region & Country Table
      Region & Country % Assets
      North America
      2 Countries
      97.91
      Cash & Cash Equivalents
      1 Countries
      1.36
      Europe ex-U.K.
      1 Countries
      0.74
      By Country Table
      By Country

      Top Country Weightings (%)

      As of 03/31/25
      • United States
        96.77
      • Cash & Cash Equivalents
        1.36
      • Canada
        1.14
      • Sweden
        0.74
      Important Information
      The information presented is for a representative account and for illustrative purposes only. Actual account holdings will vary depending on the size of an account, cash flows within an account, and restrictions on an account. Portfolio holdings are subject to change daily. Under no circumstances does the information contained within represent a recommendation to buy, hold, or sell securities, and it should not be assumed that the securities transactions or holdings presented were or will prove to be profitable. Managed account programs are available exclusively through a financial advisor. Managed account programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be suitable for all investors. For more information about this product, please contact your financial advisor.

      *Short positions, unlike long positions, lose value if the underlying asset gains value.

    • Resources

      Resources

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      Product Resources

      Fact Sheets are available approximately 15 days after quarter end.


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


      Holdings Sheet available approximately 25 days after quarter end.


      Strategy Sheet available immediately upon request.
      Reports
      Product Literature

      Product Literature

      MFS Research Core SMA Strategy Sheet
      As of Sep 13, 2024

      Written description of investment philosophy and process and SMA strategy.

      Request MFS Literature by Phone. To order MFS literature by phone, call your Client Service Team at 1-800-343-2829, 8 a.m. to 7 p.m. Eastern time.
      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.

      MFS SMAs available through MFS Institutional Advisors, Inc., 111 Huntington Avenue, Boston, MA 02199.
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