MFS® Global Alternative Strategy Fund

Specialty / Alternative | DVRAX
$ 10.23
$0.02 As of 12/11/17
$298M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® Global Alternative Strategy Fund

Specialty / Alternative
DVRAX
$0.02 As of 12/11/17
As of 11/30/17
Specialty / Alternative | DVRAX
$ 10.23
$0.02 As of 12/11/17
$298M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information
INVESTMENT OBJECTIVE

Seeks total return.

INVESTMENT FOCUS

Seeks to generate consistent returns over time by managing market, currency, and active security selection risk/return separately.

The fund uses an unconstrained benchmark approach, seeking lower correlation to traditional equity and fixed income markets.

Goal is total return that meets or exceeds 2 - 4% over the Citigroup 1-Month T-Bill Index (net of fund expenses), over a full market cycle, with less reliance on favorable market conditions.

Fund Information

Fund Commencement
12/20/07
Net Assets ($ M)
As of 11/30/17
$298.15
Fiscal Year End
OCTOBER
Benchmark

Bloomberg Barclays 1-3 Year U.S. Treasury Bond Index measures U.S. Treasury bonds with a maturity from 1 year up to (but not including) 3 years.

Bloomberg Barclays 1-3 Year U.S. Treasury Bond Index

Fund Positioning %

As of 10/31/17
  Active Security Selection Derivative Overlay Positions1
LongShort*
Net Exposure
Real Estate Related*   Total 3.05
U.S. 2.59
0.00 0.00
2.59
Non-U.S. 0.46
0.00 0.00
0.46
Equity*   Total -1.85
U.S. Small/Mid Cap 16.85
2.75 -11.10
8.50
Europe ex-U.K. 9.69
1.76 -7.25
4.20
United Kingdom 3.60
0.00 -2.33
1.28
Japan 3.51
0.00 -2.43
1.08
Emerging Markets 2.46
3.04 -4.61
0.88
North America ex-U.S. 0.96
0.00 -0.58
0.38
Developed - Middle East/Africa 0.19
0.00 0.00
0.19
Asia/Pacific ex-Japan 1.11
0.00 -2.56
-1.45
U.S. Large Cap 28.73
9.19 -54.83
-16.91
Fixed Income*   Total -19.96
North America ex-U.S. 0.26
9.89 0.00
10.15
Emerging Markets 0.25
0.00 0.00
0.25
Asia/Pacific ex-Japan 0.16
0.00 0.00
0.16
United Kingdom 0.46
0.00 -1.20
-0.74
Europe ex-U.K. 0.57
0.00 -6.16
-5.60
U.S. 17.06
0.00 -41.25
-24.19
Cash & Cash Equivalents 10.60
Other2 108.15
Total Net Exposure Summary 100.00
1Market exposure of derivative position utilized to adjust fund.
2Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
*Short positions, unlike long positions, lose value if the underlying asset gains value.

Important Risk Considerations

The fund may not achieve its objective and/or you could lose money on your investment in the fund.

Stock markets and investments in individual stocks are volatile and can decline significantly in response to issuer, market, economic, industry, political, regulatory, geopolitical, and other conditions.

Investments in debt instruments may decline in value as the result 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. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore the Fund's share price may decline during rising rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. 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. 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.

Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, currency, economic, industry, political, regulatory, geopolitical, or other conditions.

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.

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.

The fund's strategy to separate security selection decisions from market and currency exposure decisions may not produce the intended results. It is expected that the fund will generally underperform the equity markets during strong, rising equity markets.

UBS’ assessment of the risk/return potential of asset classes, markets and currencies and its adjustments to the fund’s exposure to asset classes, markets and currencies may not produce intended results and/or can lead to an investment focus that results in the fund underperforming other funds that invest in similar investment types or have similar investment strategies and/or underperform the markets in which the fund invests.

Please see the prospectus for further information on these and other risk considerations.

Performance

Collapse Expand
Average Annual Total Returns %

Average Annual Total Returns %

These results represent the percent change in net asset value.
Monthly | Quarterly As of 09/30/17 (*YTD Updated Daily, As of 12/10/17 , 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.

    MORNINGSTAR RATING
    Morningstar Overall Rating As of 10/31/17 Class A Shares

    Morningstar Multialternative

    Morningstar ratings are based on risk adjusted performance.

    OVERALL
    Out Of Funds
    NA
    OVERALL MORNINGSTAR RATING
    Morningstar Overall Rating As of 10/31/17 Class A Shares

    Morningstar Multialternative

    Morningstar ratings are based on risk adjusted performance.

    NA
    THREE YEAR
    Out Of Funds
    NA
    FIVE YEAR
    Out Of Funds
    NA
    TEN YEAR
    Out Of Funds
    NA

    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.

    Subadvised by UBS Asset Management (Americas), Inc.

    Sales Charges

    Class A shares ("A") results include the maximum sales charge.

    Annual Rate of Return %
    Pricing & Distributions