Investment Objective
Seek capital appreciation
Investment Focus
Consistent quality focus, including franchise durability
Rigorous valuation discipline, using a variety of metrics but with a heavy emphasis on cash flow based methodologies
Seek companies with above average growth of free cash flow
Fund Information
- Fund Commencement 09/24/2025
- Net Assets ($ M) As of 09/24/25 $19.84
- Fiscal Year End FEBRUARY
-
Benchmark
Russell MidCap Index measures U.S. mid-cap stocks.Russell Midcap® Index
- Net Asset Value (NAV) As of 09/24/25 $24.80
- Most Recent NAV Change As of 09/24/25 $0.14 | 0.54%
- Market Price (MP) As of 09/24/25 $24.82
- Most Recent Market Price Change As of 09/24/25 $0.12 | 0.48%
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Premium / Discount
As of 09/24/25
0.06%
Premium/Discount indicates whether a fund is trading above (premium) or below (discount) its Net Asset Value (NAV).
-
30 Day Median Bid / Ask Spread
--
The median bid-ask spread is calculated by identifying national best bid and national best offer (NBBO) for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is the median bid-ask spread, which is identified and posted on each business day.
-
Expense Ratio
0.59%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
- Exchange NYSE
Managers
Top 10 Holdings
No data currently available
Important Risk Considerations
Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Shares of ETFs are bought and sold at market price, not NAV, and are not individually redeemed from the fund. The market price at the time of sale may be higher or lower than the fund’s NAV, and any applicable brokerage commissions will reduce returns. There can be no guarantee that an active market for the funds will develop or be maintained.
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.
Please see the prospectus for further information on these and other risk considerations.
Kevin Schmitz
Portfolio Manager
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.
Performance
Average Annual Total Returns (%)
Market price returns are calculated using the closing price reported by the exchange.
Market price returns are calculated using the closing price reported by the exchange.
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.
YTD (year-to-date return): For the period from January 1 of the current year to the date shown, or from inception date if first offered after January 1 of the current year.
When applicable, returns for less than one year are not annualized, but calculated as cumulative total returns.
Annual Rate of Return (%)
Market price returns are calculated using the closing price reported by the exchange.
Market price returns are calculated using the closing price reported by the exchange.
No data currently available
Premium / Discount (%)
The line graph and table below display historical data regarding the differences between the daily closing market price of the fund - as determined by the fund’s listing exchange - and the fund’s NAV. The Vertical Axis displays the premium/discount as a percentage of NAV, while the Horizontal Axis displays the corresponding date.
The table below shows the number of trading days in which the ETF traded at a premium (greater than), discount (less than) or at its NAV.
The line graph and table below display historical data regarding the differences between the daily closing market price of the fund - as determined by the fund’s listing exchange - and the fund’s NAV. The Vertical Axis displays the premium/discount as a percentage of NAV, while the Horizontal Axis displays the corresponding date.
The table below shows the number of trading days in which the ETF traded at a premium (greater than), discount (less than) or at its NAV.
Number of Days at a Premium / Discount
Pricing History
- NAV at Close of Trading on: 09/24/25
- Net Asset Value (NAV): $24.80
- MP at Close of Trading on: 09/24/25
- Market Price (MP): $24.82
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
| MP at Close of Trading on | Market Price (MP) |
|---|
30-Day SEC Yield (%)
The fund's 30-day yield is based on the yield of a fund's investments over a 30-day period and not on the dividend paid by the fund, which may differ.
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.
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)
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.
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)
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Overview
Investment Objective
Seek capital appreciation
Investment Focus
Consistent quality focus, including franchise durability
Rigorous valuation discipline, using a variety of metrics but with a heavy emphasis on cash flow based methodologies
Seek companies with above average growth of free cash flow
Fund Information
- Fund Commencement 09/24/2025
- Net Assets ($ M) As of 09/24/25 $19.84
- Fiscal Year End FEBRUARY
-
Benchmark
Russell MidCap Index measures U.S. mid-cap stocks.Russell Midcap® Index
- Net Asset Value (NAV) As of 09/24/25 $24.80
- Most Recent NAV Change As of 09/24/25 $0.14 | 0.54%
- Market Price (MP) As of 09/24/25 $24.82
- Most Recent Market Price Change As of 09/24/25 $0.12 | 0.48%
-
Premium / Discount
As of 09/24/25
0.06%
Premium/Discount indicates whether a fund is trading above (premium) or below (discount) its Net Asset Value (NAV).
-
30 Day Median Bid / Ask Spread
--
The median bid-ask spread is calculated by identifying national best bid and national best offer (NBBO) for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is the median bid-ask spread, which is identified and posted on each business day.
-
Expense Ratio
0.59%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
- Exchange NYSE
Managers
Top 10 Holdings
No data currently available
Important Risk Considerations
Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Shares of ETFs are bought and sold at market price, not NAV, and are not individually redeemed from the fund. The market price at the time of sale may be higher or lower than the fund’s NAV, and any applicable brokerage commissions will reduce returns. There can be no guarantee that an active market for the funds will develop or be maintained.
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.
Please see the prospectus for further information on these and other risk considerations.
Kevin Schmitz
Portfolio Manager
31YEARS WITH INDUSTRY
1YEAR WITH PORTFOLIOKevin 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.
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Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
Market price returns are calculated using the closing price reported by the exchange.
These results represent the percent change in net asset value.(*YTD Updated As of 01/01/25 , 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.
1YTD (year-to-date return): For the period from January 1 of the current year to the date shown, or from inception date if first offered after January 1 of the current year.
When applicable, returns for less than one year are not annualized, but calculated as cumulative total returns.
MORNINGSTAR RATINGMorningstar ratings are based on risk adjusted performance.OVERALL MORNINGSTAR RATINGMorningstar ratings are based on risk adjusted performance.NAAnnual Rate of ReturnAnnual Rate of Return (%)
Market price returns are calculated using the closing price reported by the exchange.
No data currently available
annual rate of return table Pricing & DistributionsPremium / Discount (%)
The line graph and table below display historical data regarding the differences between the daily closing market price of the fund - as determined by the fund’s listing exchange - and the fund’s NAV. The Vertical Axis displays the premium/discount as a percentage of NAV, while the Horizontal Axis displays the corresponding date.
The table below shows the number of trading days in which the ETF traded at a premium (greater than), discount (less than) or at its NAV.
Number of Days at a Premium / Discount
Pricing History
- NAV at Close of Trading on: 09/24/25
- Net Asset Value (NAV): $24.80
- MP at Close of Trading on: 09/24/25
- Market Price (MP): $24.82
Maximum data displayed is for the most recent 10 yearsHistorical NAV LookupEnter date for which you wish to obtain a Historical NAV for this fundHistorical NAV may not be available for all dates.
Historical MP LookupEnter date for which you wish to obtain a Historical MP for this fundHistorical MP may not be available for all dates.
Historical MP TableMP at Close of Trading on Market Price (MP) No Data Available30-Day SEC Yield (%)
The fund's 30-day yield is based on the yield of a fund's investments over a 30-day period and not on the dividend paid by the fund, which may differ.No data currently availableDistributions
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.
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)
No data currently availablePast performance is no guarantee of future results. Please consult your tax advisor for further information.