INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
Integrates fundamental and quantitative research in a disciplined portfolio construction process
Invests in high-quality companies that are trading at favorable valuations with a catalyst that may be rewarded over the long term
Fund Information
- Fund Commencement 09/15/15
- Net Assets ($ M) As of 03/31/24 $335.02
- Fiscal Year End MAY
-
Benchmark
Russell 2000 Index measures U.S. small-cap stocks.Russell 2000® Index
Share Class Information
- Class Inception 09/15/15
- Net Asset Value (NAV) As of 04/19/24 $14.57
- Most Recent NAV Change As of 04/19/24 $0.05 | 0.34%
- Fund Number 1863
- Maximum Sales Charge --
-
Gross Expense Ratio
0.88%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
0.74%
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 09/30/24
MANAGERS
Top 10 Holdings
- TriNet Group Inc
- elf Beauty Inc
- Prestige Brands Holdings Inc
- Skechers U.S.A. Inc
- API Group Corp
- Verint Systems Inc
- Grand Canyon Education Inc
- Encompass Health Corp
- Regal Rexnord Corp
- Element Solutions Inc
Important Risk Considerations
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.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Strategy: There is no assurance that the portfolio's predicted tracking error will equal its target predicted tracking error at any point in time or consistently for any period of time, or that the portfolio's predicted tracking error and actual tracking error will be similar. The portfolio's strategy to target a predicted tracking error of approximately 3% compared to the Index and to blend fundamental and quantitative research may not produce the intended results. In addition, MFS fundamental research is not available for all issuers.
Quantitative Strategy: MFS' investment analysis, development and use of quantitative models, and selection of investments may not produce the intended results and/or can lead to an investment focus that results in underperforming portfolios with similar investment strategies and/or the markets in which the portfolio invests. The proprietary and third party quantitative models used by MFS may not produce the intended results for a variety of reasons, including the factors used, the weight placed on each factor, changing sources of market return, changes from the market factors' historical trends, and technical issues in the development, application, and maintenance of the models (e.g., incomplete or inaccurate data, programming/software issues, coding errors and technology failures).
Please see the prospectus for further information on these and other risk considerations.
Matt Krummell, CFA
Lead Portfolio Manager
Matthew W. Krummell, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Matt has managed Blended Research equity strategies since joining MFS in 2001 as a quantitative research analyst. He previously served as an analyst at Pioneer Investments for three years and for two years as an assistant vice president at Putnam Investments, where he was responsible for developing quantitative equity models. Before that, he was an associate at Mellon Capital Management for three years. He began his career in the financial services industry in 1991. Matt earned a Bachelor of Arts degree in economics from the University of California and a Master of Business Administration degree in finance and statistics from the University of Chicago. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Jim Fallon
Portfolio Manager
James C. Fallon is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. James joined MFS in 1999 as a securities lending administrator. He became an equity research associate in 2000 and was named equity quantitative research analyst in 2001. He assumed his current role in 2007. Prior to joining MFS, he served as mutual fund custody accountant for Investors Bank & Trust. James earned a bachelor's degree from the University of New Hampshire and a Master of Business Administration degree from Boston University. He is a member of the CFA Institute and the Boston Security Analysts Society.
Jonathan Sage, CFA
Portfolio Manager
Jonathan W. Sage, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Jonathan joined MFS in 2000 as a quantitative equity research analyst and assumed his current role in 2005. He began his career in the financial services industry in 1995. Jonathan earned a bachelor's degree from Tufts University and a Master of Business Administration degree and Master of Science degree in finance from Boston College. He holds the Chartered Financial Analyst (CFA) designation and is a member of the Boston Security Analysts Society, Inc.
Jed Stocks, CFA
Portfolio Manager
Jed Stocks, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Jed began his career in the financial services industry as a teleservices representative for MFS in 1999 and later rejoined the firm in 2001. He became a quantitative research associate in 2002 and was named a quantitative research analyst in 2005 before assuming his current role in 2015. Jed earned a Bachelor of Science degree in finance from Lehigh University. He holds the Chartered Financial Analyst (CFA) designation.
Performance
Average Annual Total Returns (%)
Important Performance Information
Sales Charges
Class I shares are available without a sales charge to eligible investors.
Annual Rate of Return (%)
As of 12/31/23 | Benchmark: Russell 2000® Index| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| At NAV | 20.28 | 13.80 | -5.38 | 26.23 | 2.07 | 29.02 | -18.41 | 18.82 |
| Russell 2000® Index | 21.31 | 14.65 | -11.01 | 25.52 | 19.96 | 14.82 | -20.44 | 16.93 |
| At NAV | Russell 2000® Index | |
|---|---|---|
| 2023 | 18.82 | 16.93 |
| 2022 | -18.41 | -20.44 |
| 2021 | 29.02 | 14.82 |
| 2020 | 2.07 | 19.96 |
| 2019 | 26.23 | 25.52 |
| 2018 | -5.38 | -11.01 |
| 2017 | 13.8 | 14.65 |
| 2016 | 20.28 | 21.31 |
Pricing History
- NAV at Close of Trading on: 04/19/24
- Net Asset Value (NAV): $14.57
- Change ($) (since 04/18/24 ): 0.05
- Change (%) (since 04/18/24 ): 0.34
- Market Price (MP):
Historical NAV may not be available for all dates.
Historical MP may not be available for all dates.
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)
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 04/19/24
| Record Date | Ex-Date | Payable Date | Type of Earnings | Rate per Share (US$) | Reinvestment NAV (US$) |
|---|---|---|---|---|---|
| 12/18/23 | 12/19/23 | 12/20/23 | Dividend | 0.11812 | 15.21 |
-
Overview
INVESTMENT OBJECTIVE
Seeks capital appreciation.
INVESTMENT FOCUS
Integrates fundamental and quantitative research in a disciplined portfolio construction process
Invests in high-quality companies that are trading at favorable valuations with a catalyst that may be rewarded over the long term
Fund Information
- Fund Commencement 09/15/15
- Net Assets ($ M) As of 03/31/24 $335.02
- Fiscal Year End MAY
-
Benchmark
Russell 2000 Index measures U.S. small-cap stocks.Russell 2000® Index
Share Class Information
- Class Inception 09/15/15
- Net Asset Value (NAV) As of 04/19/24 $14.57
- Most Recent NAV Change As of 04/19/24 $0.05 | 0.34%
- Fund Number 1863
- Maximum Sales Charge --
-
Gross Expense Ratio
0.88%
Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.
-
Net Expense Ratio
0.74%
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 09/30/24
MANAGERS
Top 10 Holdings
As of 03/31/24- TriNet Group Inc
- elf Beauty Inc
- Prestige Brands Holdings Inc
- Skechers U.S.A. Inc
- API Group Corp
- Verint Systems Inc
- Grand Canyon Education Inc
- Encompass Health Corp
- Regal Rexnord Corp
- Element Solutions Inc
Important Risk Considerations
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.
Small-cap: Investments in small-cap companies can be more volatile than investments in larger companies.
Strategy: There is no assurance that the portfolio's predicted tracking error will equal its target predicted tracking error at any point in time or consistently for any period of time, or that the portfolio's predicted tracking error and actual tracking error will be similar. The portfolio's strategy to target a predicted tracking error of approximately 3% compared to the Index and to blend fundamental and quantitative research may not produce the intended results. In addition, MFS fundamental research is not available for all issuers.
Quantitative Strategy: MFS' investment analysis, development and use of quantitative models, and selection of investments may not produce the intended results and/or can lead to an investment focus that results in underperforming portfolios with similar investment strategies and/or the markets in which the portfolio invests. The proprietary and third party quantitative models used by MFS may not produce the intended results for a variety of reasons, including the factors used, the weight placed on each factor, changing sources of market return, changes from the market factors' historical trends, and technical issues in the development, application, and maintenance of the models (e.g., incomplete or inaccurate data, programming/software issues, coding errors and technology failures).
Please see the prospectus for further information on these and other risk considerations.
Matt Krummell, CFA
Lead Portfolio Manager
31YEARS WITH INDUSTRY
9YEARS WITH PORTFOLIOMatthew W. Krummell, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Matt has managed Blended Research equity strategies since joining MFS in 2001 as a quantitative research analyst. He previously served as an analyst at Pioneer Investments for three years and for two years as an assistant vice president at Putnam Investments, where he was responsible for developing quantitative equity models. Before that, he was an associate at Mellon Capital Management for three years. He began his career in the financial services industry in 1991. Matt earned a Bachelor of Arts degree in economics from the University of California and a Master of Business Administration degree in finance and statistics from the University of Chicago. He holds the Chartered Financial Analyst (CFA) designation from the CFA Institute.
Jim Fallon
Portfolio Manager
25YEARS WITH INDUSTRY
9YEARS WITH PORTFOLIOJames C. Fallon is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. James joined MFS in 1999 as a securities lending administrator. He became an equity research associate in 2000 and was named equity quantitative research analyst in 2001. He assumed his current role in 2007. Prior to joining MFS, he served as mutual fund custody accountant for Investors Bank & Trust. James earned a bachelor's degree from the University of New Hampshire and a Master of Business Administration degree from Boston University. He is a member of the CFA Institute and the Boston Security Analysts Society.
Jonathan Sage, CFA
Portfolio Manager
28YEARS WITH INDUSTRY
9YEARS WITH PORTFOLIOJonathan W. Sage, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended Research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Jonathan joined MFS in 2000 as a quantitative equity research analyst and assumed his current role in 2005. He began his career in the financial services industry in 1995. Jonathan earned a bachelor's degree from Tufts University and a Master of Business Administration degree and Master of Science degree in finance from Boston College. He holds the Chartered Financial Analyst (CFA) designation and is a member of the Boston Security Analysts Society, Inc.
Jed Stocks, CFA
Portfolio Manager
25YEARS WITH INDUSTRY
9YEARS WITH PORTFOLIOJed Stocks, CFA, is an investment officer and equity portfolio manager at MFS Investment Management® (MFS®). He is a member of the portfolio management team responsible for the firm's Blended research, low volatility and other quantitatively managed equity strategies. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the quantitative research process and strategy discussions. Jed began his career in the financial services industry as a teleservices representative for MFS in 1999 and later rejoined the firm in 2001. He became a quantitative research associate in 2002 and was named a quantitative research analyst in 2005 before assuming his current role in 2015. Jed earned a Bachelor of Science degree in finance from Lehigh University. He holds the Chartered Financial Analyst (CFA) designation.
-
Performance
Performance
Average Annual Total ReturnsAverage Annual Total Returns (%)
These results represent the percent change in net asset value.Monthly | Quarterly As of 03/31/24 (*YTD Updated Daily, As of 04/18/24 , 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.Important Performance Information
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 ReturnAnnual Rate of Return (%)
As of 12/31/23 | Benchmark: Russell 2000® Indexannual rate of return table 2016 2017 2018 2019 2020 2021 2022 2023 At NAV 20.28 13.80 -5.38 26.23 2.07 29.02 -18.41 18.82 Russell 2000® Index 21.31 14.65 -11.01 25.52 19.96 14.82 -20.44 16.93 At NAV Russell 2000® Index 2023 18.82 16.93 2022 -18.41 -20.44 2021 29.02 14.82 2020 2.07 19.96 2019 26.23 25.52 2018 -5.38 -11.01 2017 13.8 14.65 2016 20.28 21.31 Pricing & DistributionsPricing History
- NAV at Close of Trading on: 04/19/24
- Net Asset Value (NAV): $14.57
- Change ($) (since 04/18/24 ): 0.05
- Change (%) (since 04/18/24 ): 0.34
- Market Price (MP):
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.
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 04/19/24
Record Date Ex-Date Payable Date Type of Earnings Rate per Share (US$) Reinvestment NAV (US$) 12/18/23 12/19/23 12/20/23 Dividend 0.11812 15.21 Past performance is no guarantee of future results. Please consult your tax advisor for further information.