Concentrated: The portfolio's performance could be more volatile than the performance of more diversified portfolios. 03/31/23, 8.53% of total net assets | M). 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. For investors subject to the alternative minimum tax, a small portion of dividend income may be taxable. As of 03/31/23, 14.38% of total net assets | Previously, he worked as a research associate and municipal bond analyst for Columbia Management Group. MFS (Massachusetts Financial Services Company, the fund's investment adviser) normally invests the fund's assets primarily in municipal instruments. . Total Number of Holdings: If you are working in a public space, such as a library, you would not want to select this option. Coupons are netted for securities with a payable and receivable leg. Historical and current end-of-day data provided by FACTSET. Leverage: Leverage involves investment exposure in an amount exceeding the initial investment. The weighted average yield-to-worst of all portfolio holdings. Non-accruing securities are treated as having a coupon equal to zero. Intraday Data provided by FACTSET and subject to terms of use. Beta is a measure of the volatility of a portfolio relative to the overall market. 14.38% of total net assets | Total Number of Holdings: 900 Geoffrey L. Schechter, CFA, CPA, is an investment officer at MFS Investment Management (MFS) and a portfolio manager of the firm's government securities and municipal bond portfolios.Geoff joined MFS as an investment officer in 1993 after working as a municipal credit analyst with a major insurance company. You also might decide against this option if you visit the MFS site from work and others have access to your computer. Duration, representing the fund's sensitivity to shifts in interest rate, does take this leverage effect into account in its calculation; Average Effective Maturity does not. MMHYX - MFS Municipal High Income A - Review the MMHYX stock price, growth, performance, sustainability and more to help you make the best investments. This piece shows annual returns for broad-based asset classes ranked from best to worst, and includes the growth of $100,000 for each asset class over two separate decades. Previously, he worked as a research associate and municipal bond analyst for Columbia Management Group. The SEC yield is higher than the distribution yield in part due to unusual market conditions. ($ Subscriber Agreement & Terms of Use | The fund has benefitted from the experience, continuity and stability of the investment team and accessing our integrated global investment platform, Portfolio management-driven approach to risk budgeting; quantitative tools help analyze market risk; and, an experienced analyst team focuses on idiosyncratic risk, Risk-aware approach with a focus on consistent long-term outperformance. The Centre is part of a particularly dynamic ecosystem, within the second French . She previously worked for Eaton Vance Management for seven years. The interval between the announcement and the payment of the next dividend. He joined MFS in 2002 as a municipal fixed income research analyst. Interest from the funds investments may be subject to the federal alternative minimum tax. 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. For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. MFS Municipal High Income Fund Class I. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. Geoffrey L. Schechter, CFA, CPA, is an investment officer at MFS Investment Management (MFS) and a portfolio manager of the firm's government securities and municipal bond portfolios.Geoff joined MFS as an investment officer in 1993 after working as a municipal credit analyst with a major insurance company. Golden State Tobacco Securitization Corp CA Txbl-Ref . Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. Login to MFS.com For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only User Name : Password : Remember me Forgot your password? Jason joined the firm in 2003 as a municipal bond research analyst and took on portfolio management responsibilities in 2014. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. Close tooltip. Your use of this website indicates that you agree with the intended purpose. Analyze the Fund MFS Municipal High Income Fund Class C having Symbol MMHCX for type mutual-funds and perform research on other mutual funds. To receive the distribution, an investor must be a shareholder of record on that date. The MFS Tax Center page provides an overview of how mutual funds are taxed, details about MFS tax forms you receive, & tax return information. All ratings are subject to change. ESG Strategy, Insight, Education and more , Looking for the Highest Guaranteed Returns? 04/27/23 The fund has benefitted from the experience, continuity and stability of the investment team and accessing our integrated global investment platform, Portfolio management-driven approach to risk budgeting; quantitative tools help analyze market risk; and, an experienced analyst team focuses on idiosyncratic risk, Risk-aware approach with a focus on consistent long-term outperformance. Derivatives: Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk. Visit Place St. Andr, the heart of the city's historic quarter. Municipal Bond: Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions. The fund invests, under normal market conditions, at least 80% of its net assets in securities and other investments, the interest on which is exempt from federal income tax. The core principles of our approach are integrated research, global collaboration and active risk management. 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. Distribution rates are based on the current distribution rate per share, annualized, divided by the NAV or Market Price. Learn more about mutual funds at fidelity.com. Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. a day ago View Detailed Check-in. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. Lyon is France's third-largest city and a major tourist destination. The Payable Date is the date on which the distribution is paid to shareholders. Therefore, the portfolio's value may decline during rising rates. Other Not Rated includes other fixed income securities not rated by any rating agency. View Overall Morningstar Ratings Information. (*YTD Updated Essentially the yield-to-worst is a bond's yield-to-maturity under the least desirable bond repayment pattern under the assumption that bond market yields are unchanged. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. trustees, certain officers and 10% shareholders of the Funds, and directors and certain officers of MFS): These forms contain information on the reporting person's relationship to the particular fund and on purchases and sales of such equity securities. If you check this box, anyone using the computer you are working from now will be able to enter your mfs.com homepage without having to know or enter your user name and password. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. US Inflation Persists, Growth Revised Down, As of Privacy Notice | 05/01/23. If you do NOT click this box, you will have to enter your user name and password each time you wish to view your mfs.com homepage. All results are historical and assume the reinvestment of dividends and capital gains. See the results of our collaborative approach for MFS' "All Star" portfolios. He also participates in the research process and strategy discussions. Receive email updates about best performers, news, CE accredited webcasts and more. Quantitative screening tools that systematically evaluate instruments may also be considered. See the results of our collaborative approach for MFS' "All Star" portfolios. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. She began her career in municipal finance at the New York City budget office. MFS may invest 25% or more of the funds total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers. If you are not a U.S. resident, please visitOther MFS Sites. Investments are selected primarily based on fundamental analysis of individual instruments and their issuers. Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. MFS has been investing in municipal bonds since 1984. Information ratio is a measure of consistency in excess return. The core principles of our approach are integrated research, global collaboration and active risk management. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199. Concentrated: The portfolio's performance could be more volatile than the performance of more diversified portfolios. Learn more about mutual funds at fidelity.com. Portfolio characteristic data are based on unaudited net assets. He also participates in the research process and strategy discussions. Municipal Bond: Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions. 2023 MFS Investment Management. Morningstar ratings are based on risk adjusted performance. Visit a quote page and your recently viewed tickers will be displayed here. For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Historical MP may not be available for all dates. Gary earned a Bachelor of Arts degree from the University of California and a Master of Business Administration degree from the University of Chicago. Because many municipal instruments are issued to finance similar projects, conditions in certain industries can significantly affect the portfolio and the overall municipal market. He began his career in the financial services industry in 1995. Its flat streets are ideal for exploring on foot. . R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. A calendar of forms and statements provided to shareholders by MFS. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. To receive the distribution, an investor must be a shareholder of record on that date. He is a member of the CFA Institute (formerly the Association for Investment Management and Research); Boston Security Analysts Society, Inc.; Boston Municipal Analysts Forum; and the National Federation of Municipal Analysts. He was named portfolio manager in 1993.Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain As of 04/30/23 , subject to revision and not annualized.). All results are historical and assume the reinvestment of dividends and capital gains. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity. Register MFS Access For Shareholders Only Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Change ($) (since Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. . Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity. -0.75%. 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. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed. The Fund invests, under normal market conditions, at least 80 . The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 02/28/23. Shareholders may request a printed version of an MFS Closed-End Fund's Annual or Semiannual report by calling (800) 637-2304 any business day between the hours of 9:00 am and 5:00 pm. Effective after the close of business on September 29, 2023, Class R1 and R2 shares of applicable MFS funds will be closed to purchases from new eligible investors. View Overall Morningstar Ratings Information. 04/28/23 1939, Enter date for which you wish to obtain a Historical NAV for this fund, Enter date for which you wish to obtain a Historical MP for this fund, Holding Based Portfolio - Fixed Income Level Data, Updated Monthly As of 05/01/23. These reductions will continue until at least05/31/24. There are currently no items in this Watchlist. Because many municipal instruments are issued to finance similar projects, conditions in certain industries can significantly affect the portfolio and the overall municipal market. Alpha is a measure of the portfolio's risk-adjusted performance. The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned. 8.53% of total net assets | Total Number of Holdings: 1939 Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. All quotes are in local exchange time. Full and Historical Holdings. You also might decide against this option if you visit the MFS site from work and others have access to your computer. Log in to see them here or sign up to get started. It uses a standard deviation and excess return. ): Maximum data displayed is for the most recent 10 years. Ex-Dividend Date is the date on which a fund goes ex-dividend. He was named portfolio manager in 1993. Your use of this website indicates that you agree with the intended purpose. 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. Index portfolios will tend to have values very close to 100. Daily NAV is the Net Asset Value per share determined using the amortized cost of portfolio securities rounded to two decimal places and is the price at which fund shares are transacted. Highlights the importance of diversification and striking the proper balance between stocks and bonds. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Excess returns are a portfolio's return minus the benchmark's annualized return. Coupons are netted for securities with a payable and receivable leg. Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. A high relative ranking does not always mean the fund achieved a positive return during the period. Flyer showing MFS' annual rankings from Barron's since 2008. Morningstar ratings are based on risk adjusted performance. Shareholders may request a printed version of an MFS Closed-End Fund's Annual or Semiannual report by calling (800) 637-2304 any business day between the hours of 9:00 am and 5:00 pm. He also participates in the research process and strategy discussions. M), (*YTD Updated Elimination of these reductions will result in higher expenses and lower performance. Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. Effective after the close of business on September 29, 2023, Class R1 and R2 shares of applicable MFS funds will be closed to purchases from new eligible investors. 8.53% of total net assets | Total Number of Holdings: 1939 It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return. Historical MP may not be available for all dates. 2023 MFS Investment Management. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations. The larger the portfolio's standard deviation, the greater the portfolio's volatility. Capital gains distributions, if any, are taxable. PR Sales Tax Financing Corp Sales Tax Revenue PR Restructured-Ser A-1 5.000 JUL 01 58, Buckeye Tobacco Settlement Financing Auth OH Ref-Senior-Class 2-Ser B-2 5.000 JUN 01 55, Housing Development Corp NY 8 Spruce Street-Class F 4.500 FEB 15 48, NJ Transportation Trust Fund Authority NJ Cap Apprec-Transn Sys-Ser A 0.000 DEC 15 37, California Community Choice Financing Authority CA Variable-Green Bonds-Ser C 5.250 JAN 01 54, Golden State Tobacco Securitization Corp CA Txbl-Ref-Subordinate Bonds-Ser 3.850 JUN 01 50, City of Chicago IL Ref-Ser A 5.000 JAN 01 33, New York Liberty Development Corp NY Ref-Class 1-3 World Trade Ctr 5.000 NOV 15 44, Chicago Board of Education IL 6.000 APR 01 46, Public Finance Authority WI American Dream @ Meadowlands P 6.250 AUG 01 27, Statement of Additional Information (SAI), 20 Years of the Best and Worst: A Case for Diversification, 20 Years Best and Worst: A Tale of Two Decades, Research and Risk Management Setting MFS Municipal Bond Funds Apart, Fixed Income Investing in a Changing Market Environment: Brochure, MFS National Municipal Fixed Income Capabilities, MFS National Municipal Fixed Income Capabilities (four funds), Important Announcement: MFS Family of Funds - Class R1 and R2 share availability, Important Announcement: Modification of Expense Limitation Agreements and or Changes to Management Fees, Important Announcement: Purchase Thresholds and Sales Charge Update, Important Announcement: Expansion of MFS Fixed Income Leadership Team. 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. 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. The team employs a proprietary investment process to build better insights for our clients. Because many municipal instruments are issued to finance similar projects, conditions in certain industries can significantly affect the portfolio and the overall municipal market. Performance data shown represents past performance and is no guarantee of future results. The Payable Date is the date on which the distribution is paid to shareholders. She is a member of the National Federation of Municipal Analysts and its Boston chapter. 03/31/23, Explore resources to help educate on investing basics. Daily, For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Shares of the funds involve investment risk, including possible loss of principal. Jason R. Kosty is an investment officer and fixed income portfolio manager of national municipal bond strategies at MFS Investment Management (MFS). He is a member of the National Federation of Municipal Analysts and the Boston Municipal Analysts Forum. Monthly, Without such subsidies and waivers the fund's performance results would be less favorable. 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. (Source: Barron's Dictionary of Finance and Investment Terms), Updated Daily As of 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. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. Bond:Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Fact Sheets are available approximately 15 days after month end. Historical and current end-of-day data provided by FACTSET. 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. Long-term Capital Gain Morningstar Overall Rating As of 02/28/23 Class B Shares. Benchmark: Bloomberg Municipal Bond Index. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance. ($ A variety of materials to help you prepare and file your taxes, including frequently asked questions, glossary of tax terms, tax preparation check list, phone numbers and contact information, instructions for ordering duplicate tax forms, and links to helpful Web sites. At the time of sale, shares may have a market price that is above or below net asset value, and may be worth more or less than the original cost; current performance may be lower or higher than quoted. Copyright 2023 MarketWatch, Inc. All rights reserved. Global Recent Activity. Seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available onlinehere or by contacting MFS. Morningstar Overall Rating As of 02/28/23 Class I Shares, Net Assets Highlights the importance of diversification and striking the proper balance between stocks and bonds. The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. She began her career in municipal finance at the New York City budget office. Students are turning to ChatGPT for study help, and Chegg stock plummets more than 30%, Biden invites congressional leaders to discuss debt limit at White House on May 9, DeSantis-appointed board sues Disney in latest tug-of-war in Florida, IBM expects to pause hiring for thousands of jobs that can be done by AI: report, Vice may file for bankruptcy in the coming weeks: report, The number of gig workers murdered on the job hits highest level since 2017, report says, Lawmakers call on SEC to assess Sheins supply chain before allowing IPO, NXP Semiconductors stock rallies 5% as results, outlook top Wall Street view. If you are working in a public space, such as a library, you would not want to select this option. High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments. Whether shareholders will realize gains or losses upon the sale of common shares of the fund will depend on the market price of common shares at the time of the sale, not on the fund's net asset value.
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