Benchmark: Bloomberg Municipal Bond Index. ): Change (%) (since Benchmark: Bloomberg Municipal Bond Index. Form 5 - An annual statement of beneficial ownership of securities (to be filed, if necessary, on an annual basis). 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. 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. Global Recent Activity. R squared is not a measure of performance. The market price may be lower or higher than the fund's net asset value. The market value of the holding may differ. Create a list of the investments you want to track. Find an overview of how mutual funds are taxed, details about the tax forms you receive from MFS, and instructions for using this information to complete your tax return. Total Number of Holdings: (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return. US Inflation Persists, Growth Revised Down, As of Rankings of other share classes may vary. Michael L. Dawson is an investment officer and fixed income portfolio manager of state municipal bond strategies at MFS Investment Management (MFS). It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return. 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. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. The fund may at . The portfolio itself has not been rated by any rating agency. 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. 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. Founded 2,000 years ago, Lyon's streets are a living museum, with beautiful historical buildings and interesting art galleries and museums. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. 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. Alpha is a measure of the portfolio's risk-adjusted performance. All quotes are in local exchange time. , Retirement Strategy, Insight, Education and more , Fixed Income Strategy, Insight, Education and more . Information ratio is a measure of consistency in excess return. Please see the prospectus for further information on these and other risk considerations. She began her career in municipal finance at the New York City budget office. Gary A. Lasman, CFA, is an Investment Officer of MFS Investment Management and Portfolio Manager of the firm's municipal bond portfolios. Therefore, the portfolio's value may decline during rising rates. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Average Effective Duration is a measure of how much a bond's price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance. Please note: The Section 16 Filing links for each MFS Closed-End Fund listed above connect you to the EDGAR database for the specific fund; you will leave www.mfs.com. The fund may not achieve its objective and/or you could lose money on your investment in the fund. Long-term Capital Gain The core principles of our approach are integrated research, global collaboration and active risk management. Seeks high current income exempt from federal income tax, but may also consider capital appreciation. 04/27/23 Daily, If you are working in a public space, such as a library, you would not want to select this option. 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. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. To the extent that investments are purchased through the use of leverage, the fund's net asset value will increase or decrease at a greater rate than a comparable unleveraged fund. Copyright 2023 MarketWatch, Inc. All rights reserved. Geoff joined MFS as an investment officer in 1993 after working as a municipal credit analyst with a major insurance company. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. Average Effective Maturity is a weighted average of maturity of the bonds held in a portfolio, taking into account any prepayments, puts, and adjustable coupons which may shorten the maturity. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199. Concentrated:The portfolio's performance could be closely tied to the economic, political, and other conditions in the state and other states and U.S. territories and possessions in which the portfolio invests and could be more volatile than the performance of more geographically diversified portfolios. 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. The city sits at the confluence of the rivers Isre and Drac, encircled by the snow-covered Alps. Login to MFS.com For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only User Name : Password : Remember me Forgot your password? He also participates in the research process and strategy discussions. 900, 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, Explore resources to help educate on investing basics. ($ . Ex-Dividend Date is the date on which a fund goes ex-dividend. The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. Shares of closed-end funds frequently trade at a discount or premium to their net asset value. Analyze the Fund MFS Municipal High Income Fund Class C having Symbol MMHCX for type mutual-funds and perform research on other mutual funds. Privacy Policy. 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. 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. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. US Inflation Persists, Growth Revised Down, Explore resources to help educate on investing basics, New IRS Withholding Form for Retirement Plan Tax Withholding Elections (PDF), 2023 Dividend and Capital Gain Schedule (PDF). Knowing your investable assets will help us build and prioritize features that will suit your investment needs. (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. The MFS closed-end funds are subject to the provisions of Section 16 of the Securities Exchange Act of 1934 by virtue of Section 30(h) of the Investment Company Act of 1940. Non-accruing securities are treated as having a coupon equal to zero. The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. 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. MFS may invest a significant percentage of the funds assets in issuers in a single state, territory, or possession, or a small number of states, territories, or possessions. 04/28/23 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. Beta is a measure of the volatility of a portfolio relative to the overall market. The distribution rates are computed by annualizing the current distribution rate per share (excluding short-term capital gains), and dividing the result by the public offering price (for the distribution rate including sales charge) or net asset value (for the distribution rate not including sales charge) at the end of the business day. 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. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed. She previously worked for Eaton Vance Management for seven years. She previously worked for Eaton Vance Management for seven years. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. The following filings are periodically made with the SEC via EDGAR, an online submission and database website, by insiders of MFS' closed-end funds (i.e. 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. Tracking error is the standard deviation of a portfolio's excess returns. R squared is not a measure of performance. If you are not a U.S. resident, please visit Other MFS Sites. 04/28/23 Change ($) (since Please consult your tax advisor for further information. 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 Employed in the investment area of MFS since 2015. The interval between the announcement and the payment of the next dividend. The larger the portfolio's standard deviation, the greater the portfolio's volatility. Information you'll need to file your taxes, including funds not issuing Form 1099-DIV, online tax forms and account access, percentage of government income, earned income by state, and alternative minimum tax percentage. Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. 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. 04/28/23 All ratings are subject to change. Morningstar ratings are based on risk adjusted performance. M). He is a member of the National Federation of Municipal Analysts and the Boston Municipal Analysts Forum. It uses a standard deviation and excess return. The market value of the holding may differ. Tracking error is the standard deviation of a portfolio's excess returns. 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. As of Historical and current end-of-day data provided by FACTSET. MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests the funds assets primarily in municipal instruments. MFS (Massachusetts Financial Services Company, the fund's investment adviser) normally invests the fund's assets primarily in municipal instruments. Total Number of Holdings: Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. As of 04/30/23 , subject to revision and not annualized.). The portfolio itself has not been rated by any rating agency. The Centre is part of a particularly dynamic ecosystem, within the second French . Portfolio characteristic data are based on unaudited net assets. The contents of this form are subject to the MutualFunds.com In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. Quantitative screening tools that systematically evaluate instruments may also be considered. The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 02/28/23. 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. He was named portfolio manager in 1993.Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. You also might decide against this option if you visit the MFS site from work and others have access to your computer. If you are working in a public space, such as a library, you would not want to select this option. Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. 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. Coupons are netted for securities with a payable and receivable leg. 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. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. 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. 14.38% of total net assets | Total Number of Holdings: 900 Historical MP may not be available for all dates. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. Tagged Friends. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds. Alpha is a measure of the portfolio's risk-adjusted performance. 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. 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. She is a member of the National Federation of Municipal Analysts and its Boston chapter. For investors subject to the alternative minimum tax, a small portion of dividend income may be taxable. Ratings are shown in the S&P and Fitch scale (e.g., AAA). 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. Index portfolios will tend to have values very close to 100. These results represent the percent change in net asset value. -0.75%. 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. Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. Golden State Tobacco Securitization Corp CA Txbl-Ref . For all securities other than those described below, ratings are assigned utilizing ratings from Moodys, Fitch, and Standard & Poors and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. (Source: Barron's Dictionary of Finance and Investment Terms), Updated Daily As of To receive the distribution, an investor must be a shareholder of record on that date. Fact Sheets are available approximately 15 days after month end. 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. 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. (*YTD Updated Capital gains distributions, if any, are taxable. The weighted average yield-to-worst of all portfolio holdings. Jason earned a Bachelor of Arts degree in economics from the University of Massachusetts and a Master of Business Administration degree from Duke University. 2023 Massachusetts Financial Services Company. Class I shares are available without a sales charge to eligible investors. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. Performance data shown represents past performance and is no guarantee of future results. All results are historical and assume the reinvestment of dividends and capital gains. MFS has been investing in municipal bonds since 1984. Analyze the Fund MFS Municipal High Income Fund Class A having Symbol MMHYX for type mutual-funds and perform research on other mutual funds. Jason earned a Bachelor of Arts degree in economics from the University of Massachusetts and a Master of Business Administration degree from Duke University. Performance data shown represents past performance and is no guarantee of future results. Portfolio characteristic data are based on unaudited net assets. Therefore, the portfolio's value may decline during rising rates. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. These results represent the percent change in net asset value. Capital gains distributions, if any, are taxable. Historical NAV may not be available for all dates. Specific tax form information and instructions for Form 1099-DIV, Form 1099-B, Form 1099-R, and Form 5498. Historical NAV may not be available for all dates. Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. All results are historical and assume the reinvestment of dividends and capital gains. Copyright 2023 MarketWatch, Inc. All rights reserved. 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. Closed-End Fund . Something went wrong while loading Watchlist. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. The team employs a proprietary investment process to build better insights for our clients. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199-7632. Receive email updates about best performers, news, CE accredited webcasts and more. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. For the best MarketWatch.com experience, please update to a modern browser. Prior to that, he served an assistant portfolio manager and senior municipal analyst for Liberty Funds Group. Without such subsidies and waivers the fund's performance results would be less favorable. ): Change (%) (since Your use of this website indicates that you agree with the intended purpose. MFS may invest up to 100% of the funds assets in below investment grade quality debt instruments. These reductions will continue until at least05/31/24. The Record Date is the date on which a fund declares a distribution. 3.01%. 2023 MFS Investment Management. Seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation.
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