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 01/03/1995
- Net Assets ($ M) As of 11/30/24 $1200.81
-
Benchmark
Standard & Poor's 500 Utilities Index
Standard & Poor's 500 Utilities Index measures the utilities sector.
Share Class Information
- Class Inception 01/03/1995
- Net Asset Value (NAV) As of 12/20/24 $34.14
- Most Recent NAV Change As of 12/20/24 $0.45 | 1.34%
- CUSIP 55273F605
-
Gross Expense Ratio
0.8%
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
0.79%
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
- 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
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 (%)
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 series' performance results would be less favorable. All results assume the reinvestment of dividends and capital gains.
The returns for the series 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 12/31/23 | Benchmark: Standard & Poor's 500 Utilities Index| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| At NAV | 12.73 | -14.52 | 11.47 | 14.83 | 1.06 | 25.07 | 5.90 | 14.09 | 0.76 | -2.11 |
| 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 | Standard & Poor's 500 Utilities Index | |
|---|---|---|
| 2023 | -2.11 | -7.08 |
| 2022 | 0.76 | 1.57 |
| 2021 | 14.09 | 17.67 |
| 2020 | 5.9 | 0.48 |
| 2019 | 25.07 | 26.35 |
| 2018 | 1.06 | 4.11 |
| 2017 | 14.83 | 12.11 |
| 2016 | 11.47 | 16.29 |
| 2015 | -14.52 | -4.85 |
| 2014 | 12.73 | 28.98 |
Pricing History
- NAV at Close of Trading on: 12/20/24
- Net Asset Value (NAV): $34.14
- Change ($) (since 12/19/24 ): 0.45
- Change (%) (since 12/19/24 ): 1.34
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
-
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 01/03/1995
- Net Assets ($ M) As of 11/30/24 $1200.81
-
Benchmark
Standard & Poor's 500 Utilities Index
Standard & Poor's 500 Utilities Index measures the utilities sector.
Share Class Information
- Class Inception 01/03/1995
- Net Asset Value (NAV) As of 12/20/24 $34.14
- Most Recent NAV Change As of 12/20/24 $0.45 | 1.34%
- CUSIP 55273F605
-
Gross Expense Ratio
0.8%
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
0.79%
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 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 series may not achieve its objective and/or you could lose money on your investment in the series.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 12/20/24 , 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 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 series' performance results would be less favorable. All results assume the reinvestment of dividends and capital gains.
The returns for the series 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 12/31/23 | Benchmark: Standard & Poor's 500 Utilities Indexannual rate of return table 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 At NAV 12.73 -14.52 11.47 14.83 1.06 25.07 5.90 14.09 0.76 -2.11 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 Standard & Poor's 500 Utilities Index 2023 -2.11 -7.08 2022 0.76 1.57 2021 14.09 17.67 2020 5.9 0.48 2019 25.07 26.35 2018 1.06 4.11 2017 14.83 12.11 2016 11.47 16.29 2015 -14.52 -4.85 2014 12.73 28.98 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 12/20/24
- Net Asset Value (NAV): $34.14
- Change ($) (since 12/19/24 ): 0.45
- Change (%) (since 12/19/24 ): 1.34
- 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.