MFS® Pennsylvania Municipal Bond Fund

Tax-Advantaged FI | MFPAX
Without Waiver 1.73 %
With Waiver 1.89 %
$ 10.30
$0.02 As of 12/14/17
$125M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® Pennsylvania Municipal Bond Fund

Tax-Advantaged FI
MFPAX
$0.02 As of 12/14/17
As of 11/30/17
Tax-Advantaged FI | MFPAX
$ 10.3
$0.02 As of 12/14/17
$125M
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 and Pennsylvania personal income tax, if any, but also considering capital appreciation.

INVESTMENT FOCUS

Seeks to provide double tax free income for in-state residents (income that is exempt from federal and state taxes)

Performance sought from sector/security selection and yield curve analysis

Fund Information

Fund Commencement
02/01/93
Net Assets ($ M)
As of 11/30/17
$125.66
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
  • City of Philadelphia PA Airport Revenue Ser A MPA 5.000 JUN 15 40
  • Commonwealth Financing Authority PA Ser B 5.000 JUN 01 36
  • The School District of Philadelphia PA Ref-Ser F 5.000 SEP 01 38
  • Berks County Municipal Authority PA Reading Hosp Med Center-Ser A 5.000 NOV 01 40
  • State Public School Building Authority PA Ref-Sch-Philadelphia Sch Dist 5.000 JUN 01 33
  • Scranton School District PA Ser A MPA 5.000 JUL 15 27
  • Deer Lakes School District PA AGC 5.375 APR 01 34
  • Delaware River Port Authority PA 5.000 JAN 01 29
  • PA Economic Development Financing Authority Proctor & Gamble Paper Proj 5.375 MAR 01 31
  • Township of Cranberry PA 5.000 OCT 01 35
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

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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 12/13/17 , 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 Pennsylvania

    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 Pennsylvania

    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.

    A small portion of income may be subject to state, federal, and/or alternative minimum tax. Capital gains, if any, are subject to a capital gains tax.

    Sales Charges

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

    Annual Rate of Return %
    Pricing & Distributions