INVESTMENT OBJECTIVE
Seeks total return.
INVESTMENT FOCUS
Emphasis on REITs believed to be attractively priced with above-average growth prospects
Invests primarily in equity real estate investment trusts
Fund Information
- Fund Commencement 12/07/1998
- Net Assets ($ M) As of 03/31/25 $162.48
-
Benchmark
FTSE EPRA Nareit Developed Real Estate Index (net div)
FTSE EPRA/NAREIT Developed Real Estate Index measures the performance of eligible real estate equities worldwide that generate a majority of their revenue and income through the ownership, disposure and development of income-producing real estate.
Share Class Information
- Class Inception 12/07/1998
- Net Asset Value (NAV) As of 04/23/25 $12.15
- Most Recent NAV Change As of 04/23/25 $0.02 | 0.16%
- CUSIP 86664T300
-
Gross Expense Ratio
1.01%
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
0.90%
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 04/30/25
MANAGERS
Top 10 Holdings
- ProLogis REIT
- Equinix Inc REIT
- Goodman Group REIT
- Ventas Inc REIT
- Digital Realty Trust Inc REIT
- Extra Space Storage Inc REIT
- Simon Property Group Inc REIT
- Essex Property Trust Inc REIT
- Mid-America Apartment Communities Inc REIT
- Mitsui Fudosan Co Ltd
Important Risk Considerations
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.
Real Estate: Real estate-related investments can be volatile because of general, regional, and local economic conditions, fluctuations in interest rates and property tax rates; shifts in zoning laws, environmental regulation and other governmental actions; increased operation expenses; lack of availability of mortgage funds; losses due to natural disasters; changes in property values and rental rates; overbuilding; losses due to casualty or condemnation, cash flows; the management skill and creditworthiness of the REIT manager, and other factors.
Please see the prospectus for further information on these and other risk considerations.
Rick Gable, CFA
Portfolio Manager
Richard R. Gable, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He covers the real estate sector and manages the firm's real estate investment trust portfolios.
Rick joined MFS in 2011. Previously, he was a managing director and portfolio manager for 13 years for Sun Capital Advisers, a division of Sun Life Financial. While at Sun Capital, he managed several MFS real estate investment trust portfolios through a subadvisory relationship between MFS and Sun Capital. He also served as an analyst for Mellon Bank for four years. He has worked in the financial services industry since 1993.
Rick has a bachelor's degree from Middlebury College and a Master of Business Administration degree from Boston College. He is a member of the Boston Security Analysts Society and has earned the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration and active risk management.
Mark Syn, CFA
Portfolio Manager
Mark Syn, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team of the firm's Global Real Estate strategy. He is responsible for final buy and sell decisions, portfolio construction, risk and cash management, and he participates in the research process and strategy discussions. He also has research analyst duties following global real estate securities. He is based in Singapore. Mark joined MFS in 2018 as a research analyst and was named a portfolio manager in 2022. He was previously a managing director at Wellington Management, serving for ten years as a coportfolio manager and analyst. Prior to this, he was an executive director at Goldman Sachs, serving as a portfolio manager and analyst for eight years. He began his career in the financial services industry in 1997, working for one year as a corporate banking relationship manager at Citibank before returning to school for his second master's degree. Mark earned a Master of Business Administration degree in finance from London Business School and a Master of Engineering degree in civil engineering with First Class honors from Imperial College, London. He holds the Chartered Financial Analyst (CFA) designation.
Performance
Average Annual Total Returns (%)
Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your units, 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 portfolios' performance results would be less favorable. All results assume the reinvestment of dividends and capital gains.
The returns for the portfolio shown do not reflect the deduction of expenses associated with variable products, such as mortality and expense risk charges, separate account charges, and sales charges imposed by insurance company separate accounts. Such expenses would reduce the overall returns shown. Please refer to the variable product's annual report for performance that reflects the deduction of the fees and charges imposed by insurance company separate accounts.
Withdrawals of taxable amounts from variable annuity contracts prior to age 59½ may be subject to an additional 10% federal tax penalty as well as income tax. Amounts withdrawn from a variable insurance contract will reduce the death benefit and withdrawals of earnings will be subject to income tax.
Sales Charges
Initial Class shares have no sales charge.
No representation is made, and no assurance can be given, that any investment's results will be comparable to the investment results of any other product with similar investment objectives and policies, including products with the same investment professional or manager. Differences in portfolio size, investments held, contract and portfolio expenses, and other factors can be expected to affect performance.
A Word About Variable Products
Issued by insurance companies, variable annuity and variable life insurance contracts allow investors to accumulate money on a tax deferred basis for long-term financial goals. Mortality and expense charges (which compensate the insurance company for insurance risks it assumes under the contract), surrender charges (typically levied if a contract holder cancels it within a certain period following initial purchase), and an annual maintenance charge are among the fees typically associated with these types of variable products.
Also keep in mind that any income guarantees are subject to the claims-paying ability of the issuing insurance company, and that contract owners have options when a contract's payout phase begins. Generally, investors may take their money in a lump sum, make discretionary or systematic distributions, or they can annuitize.
Please refer investors to your variable annuity or life insurance contract as well as the underlying fund prospectus(es) for more detailed information and other important considerations, which should be read carefully before investing.
Annual Rate of Return (%)
As of 12/31/24 | Benchmark: FTSE EPRA Nareit Developed Real Estate Index (net div)| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 0.74 | 7.94 | 13.33 | -3.03 | 26.87 | 1.49 | 30.12 | -26.94 | 11.46 | -2.69 |
| FTSE EPRA Nareit Developed Real Estate Index (net div) | -0.79 | 4.06 | 10.36 | -5.63 | 21.91 | -9.04 | 26.09 | -25.09 | 9.67 | 0.94 |
| At NAV | FTSE EPRA Nareit Developed Real Estate Index (net div) | |
|---|---|---|
| 2024 | -2.69 | 0.94 |
| 2023 | 11.46 | 9.67 |
| 2022 | -26.94 | -25.09 |
| 2021 | 30.12 | 26.09 |
| 2020 | 1.49 | -9.04 |
| 2019 | 26.87 | 21.91 |
| 2018 | -3.03 | -5.63 |
| 2017 | 13.33 | 10.36 |
| 2016 | 7.94 | 4.06 |
| 2015 | 0.74 | -0.79 |
Pricing History
- NAV at Close of Trading on: 04/23/25
- Net Asset Value (NAV): $12.15
- Change ($) (since 04/22/25 ): 0.02
- Change (%) (since 04/22/25 ): 0.16
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
Performance Attribution
GuideAvailable approximately 15 or 25 days after month end
Available approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
-
Overview
INVESTMENT OBJECTIVE
Seeks total return.
INVESTMENT FOCUS
Emphasis on REITs believed to be attractively priced with above-average growth prospects
Invests primarily in equity real estate investment trusts
Fund Information
- Fund Commencement 12/07/1998
- Net Assets ($ M) As of 03/31/25 $162.48
-
Benchmark
FTSE EPRA Nareit Developed Real Estate Index (net div)
FTSE EPRA/NAREIT Developed Real Estate Index measures the performance of eligible real estate equities worldwide that generate a majority of their revenue and income through the ownership, disposure and development of income-producing real estate.
Share Class Information
- Class Inception 12/07/1998
- Net Asset Value (NAV) As of 04/23/25 $12.15
- Most Recent NAV Change As of 04/23/25 $0.02 | 0.16%
- CUSIP 86664T300
-
Gross Expense Ratio
1.01%
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
0.90%
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 04/30/25
MANAGERS
Top 10 Holdings
As of 03/31/25- ProLogis REIT
- Equinix Inc REIT
- Goodman Group REIT
- Ventas Inc REIT
- Digital Realty Trust Inc REIT
- Extra Space Storage Inc REIT
- Simon Property Group Inc REIT
- Essex Property Trust Inc REIT
- Mid-America Apartment Communities Inc REIT
- Mitsui Fudosan Co Ltd
Important Risk Considerations
The portfolio may not achieve its objective and/or you could lose money on your investment in the portfolio.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.
Real Estate: Real estate-related investments can be volatile because of general, regional, and local economic conditions, fluctuations in interest rates and property tax rates; shifts in zoning laws, environmental regulation and other governmental actions; increased operation expenses; lack of availability of mortgage funds; losses due to natural disasters; changes in property values and rental rates; overbuilding; losses due to casualty or condemnation, cash flows; the management skill and creditworthiness of the REIT manager, and other factors.
Please see the prospectus for further information on these and other risk considerations.
Rick Gable, CFA
Portfolio Manager
32YEARS WITH INDUSTRY
12YEARS WITH PORTFOLIORichard R. Gable, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He covers the real estate sector and manages the firm's real estate investment trust portfolios.
Rick joined MFS in 2011. Previously, he was a managing director and portfolio manager for 13 years for Sun Capital Advisers, a division of Sun Life Financial. While at Sun Capital, he managed several MFS real estate investment trust portfolios through a subadvisory relationship between MFS and Sun Capital. He also served as an analyst for Mellon Bank for four years. He has worked in the financial services industry since 1993.
Rick has a bachelor's degree from Middlebury College and a Master of Business Administration degree from Boston College. He is a member of the Boston Security Analysts Society and has earned the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration and active risk management.
Mark Syn, CFA
Portfolio Manager
28YEARS WITH INDUSTRY
3YEARS WITH PORTFOLIOMark Syn, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team of the firm's Global Real Estate strategy. He is responsible for final buy and sell decisions, portfolio construction, risk and cash management, and he participates in the research process and strategy discussions. He also has research analyst duties following global real estate securities. He is based in Singapore. Mark joined MFS in 2018 as a research analyst and was named a portfolio manager in 2022. He was previously a managing director at Wellington Management, serving for ten years as a coportfolio manager and analyst. Prior to this, he was an executive director at Goldman Sachs, serving as a portfolio manager and analyst for eight years. He began his career in the financial services industry in 1997, working for one year as a corporate banking relationship manager at Citibank before returning to school for his second master's degree. Mark earned a Master of Business Administration degree in finance from London Business School and a Master of Engineering degree in civil engineering with First Class honors from Imperial College, London. He holds the Chartered Financial Analyst (CFA) designation.
-
Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
These results represent the percent change in net asset value.Monthly | Quarterly As of 03/31/25 (*YTD Updated Daily, As of 04/22/25 , subject to revision and not annualized.)Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value fluctuate so your units, 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 portfolios' performance results would be less favorable. All results assume the reinvestment of dividends and capital gains.
The returns for the portfolio shown do not reflect the deduction of expenses associated with variable products, such as mortality and expense risk charges, separate account charges, and sales charges imposed by insurance company separate accounts. Such expenses would reduce the overall returns shown. Please refer to the variable product's annual report for performance that reflects the deduction of the fees and charges imposed by insurance company separate accounts.
Withdrawals of taxable amounts from variable annuity contracts prior to age 59½ may be subject to an additional 10% federal tax penalty as well as income tax. Amounts withdrawn from a variable insurance contract will reduce the death benefit and withdrawals of earnings will be subject to income tax.
Sales Charges
Initial Class shares have no sales charge.
No representation is made, and no assurance can be given, that any investment's results will be comparable to the investment results of any other product with similar investment objectives and policies, including products with the same investment professional or manager. Differences in portfolio size, investments held, contract and portfolio expenses, and other factors can be expected to affect performance.
A Word About Variable Products
Issued by insurance companies, variable annuity and variable life insurance contracts allow investors to accumulate money on a tax deferred basis for long-term financial goals. Mortality and expense charges (which compensate the insurance company for insurance risks it assumes under the contract), surrender charges (typically levied if a contract holder cancels it within a certain period following initial purchase), and an annual maintenance charge are among the fees typically associated with these types of variable products.
Also keep in mind that any income guarantees are subject to the claims-paying ability of the issuing insurance company, and that contract owners have options when a contract's payout phase begins. Generally, investors may take their money in a lump sum, make discretionary or systematic distributions, or they can annuitize.
Please refer investors to your variable annuity or life insurance contract as well as the underlying fund prospectus(es) for more detailed information and other important considerations, which should be read carefully before investing.Annual Rate of ReturnAnnual Rate of Return (%)
As of 12/31/24 | Benchmark: FTSE EPRA Nareit Developed Real Estate Index (net div)annual rate of return table 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 At NAV 0.74 7.94 13.33 -3.03 26.87 1.49 30.12 -26.94 11.46 -2.69 FTSE EPRA Nareit Developed Real Estate Index (net div) -0.79 4.06 10.36 -5.63 21.91 -9.04 26.09 -25.09 9.67 0.94 At NAV FTSE EPRA Nareit Developed Real Estate Index (net div) 2024 -2.69 0.94 2023 11.46 9.67 2022 -26.94 -25.09 2021 30.12 26.09 2020 1.49 -9.04 2019 26.87 21.91 2018 -3.03 -5.63 2017 13.33 10.36 2016 7.94 4.06 2015 0.74 -0.79 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 04/23/25
- Net Asset Value (NAV): $12.15
- Change ($) (since 04/22/25 ): 0.02
- Change (%) (since 04/22/25 ): 0.16
- 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.
Performance AttributionPerformance Attribution
GuideAvailable approximately 15 or 25 days after month end
Quarterly AttributionAvailable approximately 25 days after quarter end
Year To Date (YTD)
12 Month Attribution
Calendar YearNo Data Available