MFS® Municipal Income Fund

Tax-Advantaged FI | MFIAX
Without Waiver 1.98 %
With Waiver 2.01 %
$ 8.78
$0.01 As of 12/14/17
$3.2B
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® Municipal Income Fund

Tax-Advantaged FI
MFIAX
$0.01 As of 12/14/17
As of 11/30/17
Tax-Advantaged FI | MFIAX
$ 8.78
$0.01 As of 12/14/17
$3.2B
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information
INVESTMENT OBJECTIVE

Seeks total return with an emphasis on income exempt from federal income tax, but also considering capital appreciation.

INVESTMENT FOCUS

Opportunistic national tax-exempt fund focused on investment grade municipal debt

Performance sought from sector/security selection and yield curve analysis

Constructs portfolio from the bottom up

Fund Information

Fund Commencement
12/29/86
Net Assets ($ M)
As of 11/30/17
$3220.03
Fiscal Year End
MARCH
Benchmark

Bloomberg Barclays Municipal Bond Index measures the municipal bond market.

Bloomberg Barclays Municipal Bond Index

Top 10 Holdings

As of 11/30/17
  • Tobacco Settlement Financing Corp Ser 1A 4.500 JUN 01 23
  • State Public School Building Authority PA Ref-Sch-Philadelphia Sch Dist 5.000 JUN 01 33
  • Commonwealth of Massachusetts MA Ser J 5.000 DEC 01 36
  • Commonwealth of Mass Transportation Fund Rev MA Rail Enhancement & Accelerated 5.000 JUN 01 42
  • Chicago Board of Education IL 6.000 APR 01 46
  • Puerto Rico Highways & Transportation Authority PR Ref-Ser L AMBAC 5.250 JUL 01 38
  • State of Illinois IL Ser-A 5.000 NOV 01 18
  • Central Puget Sound Regional Transit Authority WA Ser S-1-Green Bonds 5.000 NOV 01 41
  • New Jersey Higher Education Student Assistance Authority NJ Amt-Ref-Ser 1B 2.950 DEC 01 28
  • State of Illinois IL Ser C 5.000 NOV 01 29
MANAGERS

Important Risk Considerations

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

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 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.

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.

The fund's performance could be closely tied to the economic, political, and other conditions in the statesand U.S. territories and possessions in which the fund invests and could be more volatile than the performance of more geographically diversified funds.

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 12/14/17 , 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 11/30/17 Class A Shares

    Morningstar Muni National Long

    Morningstar ratings are based on risk adjusted performance.

    OVERALL
    Out Of Funds
    NA
    OVERALL MORNINGSTAR RATING
    Morningstar Overall Rating As of 11/30/17 Class A Shares

    Morningstar Muni National Long

    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.

    Dividends are generally subject to state and local taxes. For investors subject to the alternative minimum tax, a small portion of dividend income may be taxable. Capital gains distributions, if any, are taxable.

    Sales Charges

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

    Annual Rate of Return %
    Pricing & Distributions