Awards and Ratings

MFS Meridian Funds	Share Class	Defaqto
Prudent Capital Fund	All

Disclaimer:

A Defaqto Risk Rating is not an award and a Risk Rating cannot be awarded

MFS has received a Defaqto Risk Rating 5 for its MFS Meridian® Funds - Prudent Capital Fund.

Methodology: The Defaqto methodology involves using both quantitative and qualitative inputs in order to risk rate a fund: 

1. Input 1 - Historic volatility of the fund 
2. Input 2 - Forecast the fund's future volatility 
3. Input 3 - Discussion with the fund manager 

Defaqto’s methodology requires them to take the highest of the relevant historic and stochastic volatilities. Since their profiles are overlapping and not contiguous, Defaqto has some discretion as to whether a fund is rated in the upper or the lower profile of the highest data point. Defaqto’s assessment has been considered by their Investment Committee, and has taken into account some of MFS Investment Management's suggestions when arriving at our risk ratings. Defaqto is an independent financial information business, helping financial institutions and consumers make better informed decisions.

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