Effective Date 11/15/23 The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five-pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analysts' overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a “Gold” rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a "Silver" rating distinguishes itself with advantages that outweigh the disadvantages across the five pillars and with sufficient level of analyst conviction to warrant a positive rating. A Fund with a "Bronze" rating distinguishes itself with notable advantages across several, but perhaps not all, of the five pillars—strengths that give the analysts a high level of conviction. Analyst Ratings are reevaluated at least every 14 months.
Effective Date 11/15/23 The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five-pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analysts' overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a “Gold” rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a "Silver" rating distinguishes itself with advantages that outweigh the disadvantages across the five pillars and with sufficient level of analyst conviction to warrant a positive rating. A Fund with a "Bronze" rating distinguishes itself with notable advantages across several, but perhaps not all, of the five pillars—strengths that give the analysts a high level of conviction. Analyst Ratings are reevaluated at least every 14 months.
Prospectus
|
Fact Sheet
|
$0.47
As of09/06/24
As of 07/31/24
MCVIX
Effective Date 11/15/23 The Morningstar Analyst Rating is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five-pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analysts' overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe. The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a “Gold” rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a "Silver" rating distinguishes itself with advantages that outweigh the disadvantages across the five pillars and with sufficient level of analyst conviction to warrant a positive rating. A Fund with a "Bronze" rating distinguishes itself with notable advantages across several, but perhaps not all, of the five pillars—strengths that give the analysts a high level of conviction. Analyst Ratings are reevaluated at least every 14 months.
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 07/31/24
$17403.31
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
11/01/2001
Net Asset Value (NAV)
As of 09/06/24
$34.12
Most Recent NAV Change
As of 09/06/24
$0.47
|
1.36%
Fund Number
1824
Maximum Sales Charge
--
Gross Expense Ratio
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
0.75%
Net Expense Ratio
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
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
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
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
30
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
30
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
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
31
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
31
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
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.
These results represent the percent change in net asset value.
Monthly|QuarterlyAs of
06/30/24
(*YTD Updated
Daily,
As of 09/06/24 , 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 shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.
MORNINGSTAR RATING
Morningstar Overall Rating As of 07/31/24 Class I Shares
Morningstar Mid-Cap Value
Morningstar ratings are based on risk adjusted performance.
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 I shares are available without a sales charge to eligible investors.
Annual Rate of Return
Annual Rate of Return (%)
As of
12/31/23|Benchmark: Russell Midcap® Value Index
annual rate of return table
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
10.15
-2.27
15.68
13.69
-11.44
30.83
4.27
30.87
-8.76
12.80
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
12.8
12.71
2022
-8.76
-12.03
2021
30.87
28.34
2020
4.27
4.96
2019
30.83
27.06
2018
-11.44
-12.29
2017
13.69
13.34
2016
15.68
20.0
2015
-2.27
-4.78
2014
10.15
14.75
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
09/06/24
Net Asset Value (NAV):
$34.12
Change
($) (since
09/05/24
):
0.47
Change (%) (since
09/05/24
):
1.36
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
Enter date for which you wish to obtain a Historical NAV for this fund
Historical NAV may not be available for all dates.
Historical MP Lookup
Enter date for which you wish to obtain a Historical MP for this fund
Historical MP may not be available for all dates.
Historical Exit Price Table
NAV at Close of Trading on
Net Asset Value (NAV)
No Data Available
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
09/07/24
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
29.44
12/11/23
12/12/23
12/13/23
Dividend
0.45192
29.44
Past performance is no guarantee of future results. Please consult your tax advisor for further information.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
Map represents sectors greater than 5%.
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
07/31/24
Data table of holding characteristics
characterstics
Equity Earning
Weighted Average Price/Earnings (next 12 months)
14.88x
Weighted Average Price/Cash Flow
11.51x
Weighted Average Price/Sales
1.23x
Weighted Average Price/Book
2.39x
Weighted Average IBES Long Term EPS Growth
11.72%
Weighted Average Market Cap
$23.4b
Weighted Median Market Cap
$18.1b
Number of Issues
144
Active Share
Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
75.20%
Portfolio Turnover
Turnover Ratio is the percentage of a portfolio's securities that have changed over the course of a year: (lesser of purchases or sales)/average market value.
24.46%
% in Stocks
98.47%
% Cash & Cash Equivalents
1.53%
% in Top Ten
11.82%
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.
Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.
Updated Monthly As of
07/31/24
Benchmark
Russell Midcap® Value Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
1.18
2.08
2.94
Beta
0.96
0.95
0.93
R-squared
98.03
98.70
98.16
Standard Deviation %
17.23
20.78
18.69
Sharpe Ratio
0.46
0.44
0.27
Tracking Error
2.52
2.66
2.85
Information Ratio
0.38
0.69
0.98
Treynor Ratio
8.32
9.75
5.38
Downside Capture %
93.50
91.16
87.72
Upside Capture %
98.56
98.07
97.53
Top 10 Holdings
As of
07/31/24
Hartford Financial Services Group Inc
PG&E Corp
Diamondback Energy Inc
Cencora Inc
Targa Resources Corp
M&T Bank Corp
Graphic Packaging Holding Co
Toll Brothers Inc
Eastman Chemical Co
Public Service Enterprise Group Inc
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
As of
07/31/24
Sector Weights (%)
As of
07/31/24
% Assets
Financials
18.62
Industrials
18.15
Materials
9.58
Consumer Discretionary
9.50
Health Care
8.05
Utilities
7.60
Information Technology
7.44
Real Estate
6.99
Energy
6.12
Consumer Staples
5.67
Communication Services
0.76
Cash & Cash Equivalents
1.53
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
Fees
0.74% Net Expense Ratio
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
0.75% Gross Expense Ratio
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Maximum Sales Charge
Class I shares are available without a sales charge to eligible investors.
The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 07/31/24.
The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. Rankings of other share classes may vary. A high relative ranking does not always mean the fund achieved a positive return during the period.
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.
This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online at MFS.com. Read it carefully.
MFS registered investment products are offered through MFS® Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.
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 07/31/24
$17403.31
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
11/01/2001
Net Asset Value (NAV)
As of 09/06/24
$34.12
Most Recent NAV Change
As of 09/06/24
$0.47
|
1.36%
Fund Number
1824
Maximum Sales Charge
--
Gross Expense Ratio
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
0.75%
Net Expense Ratio
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
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
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
17
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
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
30
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
30
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
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
31
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
31
YEARS WITH INDUSTRY
16
YEARS WITH PORTFOLIO
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.
These results represent the percent change in net asset value.
Monthly|QuarterlyAs of
06/30/24
(*YTD Updated
Daily,
As of 09/06/24 , 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 shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.
MORNINGSTAR RATING
Morningstar Overall Rating As of 07/31/24 Class I Shares
Morningstar Mid-Cap Value
Morningstar ratings are based on risk adjusted performance.
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 I shares are available without a sales charge to eligible investors.
Annual Rate of Return
Annual Rate of Return (%)
As of
12/31/23|Benchmark: Russell Midcap® Value Index
annual rate of return table
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
10.15
-2.27
15.68
13.69
-11.44
30.83
4.27
30.87
-8.76
12.80
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
12.8
12.71
2022
-8.76
-12.03
2021
30.87
28.34
2020
4.27
4.96
2019
30.83
27.06
2018
-11.44
-12.29
2017
13.69
13.34
2016
15.68
20.0
2015
-2.27
-4.78
2014
10.15
14.75
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
09/06/24
Net Asset Value (NAV):
$34.12
Change
($) (since
09/05/24
):
0.47
Change (%) (since
09/05/24
):
1.36
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
Enter date for which you wish to obtain a Historical NAV for this fund
Historical NAV may not be available for all dates.
Historical MP Lookup
Enter date for which you wish to obtain a Historical MP for this fund
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Historical Exit Price Table
NAV at Close of Trading on
Net Asset Value (NAV)
No Data Available
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
09/07/24
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
29.44
12/11/23
12/12/23
12/13/23
Dividend
0.45192
29.44
Past performance is no guarantee of future results. Please consult your tax advisor for further information.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
Map represents sectors greater than 5%.
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
07/31/24
Data table of holding characteristics
characterstics
Equity Earning
Weighted Average Price/Earnings (next 12 months)
14.88x
Weighted Average Price/Cash Flow
11.51x
Weighted Average Price/Sales
1.23x
Weighted Average Price/Book
2.39x
Weighted Average IBES Long Term EPS Growth
11.72%
Weighted Average Market Cap
$23.4b
Weighted Median Market Cap
$18.1b
Number of Issues
144
Active Share
Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.
75.20%
Portfolio Turnover
Turnover Ratio is the percentage of a portfolio's securities that have changed over the course of a year: (lesser of purchases or sales)/average market value.
24.46%
% in Stocks
98.47%
% Cash & Cash Equivalents
1.53%
% in Top Ten
11.82%
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.
Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.
Updated Monthly As of
07/31/24
Benchmark
Russell Midcap® Value Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
1.18
2.08
2.94
Beta
0.96
0.95
0.93
R-squared
98.03
98.70
98.16
Standard Deviation %
17.23
20.78
18.69
Sharpe Ratio
0.46
0.44
0.27
Tracking Error
2.52
2.66
2.85
Information Ratio
0.38
0.69
0.98
Treynor Ratio
8.32
9.75
5.38
Downside Capture %
93.50
91.16
87.72
Upside Capture %
98.56
98.07
97.53
Top 10 Holdings
As of
07/31/24
Hartford Financial Services Group Inc
PG&E Corp
Diamondback Energy Inc
Cencora Inc
Targa Resources Corp
M&T Bank Corp
Graphic Packaging Holding Co
Toll Brothers Inc
Eastman Chemical Co
Public Service Enterprise Group Inc
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
As of
07/31/24
Sector Weights (%)
As of
07/31/24
% Assets
Financials
18.62
Industrials
18.15
Materials
9.58
Consumer Discretionary
9.50
Health Care
8.05
Utilities
7.60
Information Technology
7.44
Real Estate
6.99
Energy
6.12
Consumer Staples
5.67
Communication Services
0.76
Cash & Cash Equivalents
1.53
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.
The portfolio is actively managed, and current holdings may be different.
Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.
*Short positions, unlike long positions, lose value if the underlying asset gains value.
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
0.75% Gross Expense Ratio
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Maximum Sales Charge
Class I shares are available without a sales charge to eligible investors.
The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 07/31/24.
The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. Rankings of other share classes may vary. A high relative ranking does not always mean the fund achieved a positive return during the period.
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This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online at MFS.com. Read it carefully.
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