6 9

International Growth Fund

MGRAX
$ 42.10
$0.08 As of 03/27/24
$16.1B
As of 02/29/24
Morningstar
View Overall Morningstar Ratings Information

International Growth Fund

MGRAX
$0.08 As of 03/27/24
As of 02/29/24
MGRAX
$ 42.1
$0.08 As of 03/27/24
$16.1B
As of 02/29/24
Morningstar
View Overall Morningstar Ratings Information
  • Overview

    INVESTMENT OBJECTIVE

    Seeks capital appreciation.

    INVESTMENT FOCUS

    Managed with a long term investment horizon

    Multi-cap approach focused primarily on high quality non-US businesses with above-average growth potential

    Seeks to invest in companies with strong fundamentals, durable competitive advantages, and reasonable valuations

    Fund Information

    • Fund Commencement 10/24/95
    • Net Assets ($ M) As of 02/29/24 $16110.17
    • Fiscal Year End MAY
    • Benchmark
      MSCI All Country World (ex-US) Growth Index is a market capitalization index that is designed to measure equity market performance for growth securities in the global developed and emerging markets, excluding the U.S.
      MSCI All Country World (ex-US) Growth Index (net div)

    Share Class Information

    • Class Inception 10/24/95
    • Net Asset Value (NAV) As of 03/27/24 $42.10
    • Most Recent NAV Change As of 03/27/24 $0.08 | 0.19%
    • Fund Number 86
    • Maximum Sales Charge 5.75%
    • Gross Expense Ratio

      Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.

      1.09%
    • Net Expense Ratio

      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

      1.08%

    MANAGERS

    Top 10 Holdings

    • SAP SE
    • Hitachi Ltd
    • Schneider Electric SE
    • Taiwan Semiconductor Manufacturing Co Ltd ADR
    • LVMH Moet Hennessy Louis Vuitton SE
    • Nestle SA
    • Roche Holding AG
    • Linde PLC
    • AIA Group Ltd
    • Heineken NV

    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.

    Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.

    International: 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.

    Growth: Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general.

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

  • Performance

    Performance

    Average Annual Total Returns

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Monthly | Quarterly As of 12/31/23 (*YTD Updated Daily, As of 03/27/24 , 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.
      MORNINGSTAR RATING
      Morningstar Overall Rating As of 02/29/24 Class A Shares

      Morningstar Foreign Large Growth

      Morningstar ratings are based on risk adjusted performance.

      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      Morningstar Overall Rating As of 02/29/24 Class A Shares

      Morningstar Foreign Large Growth

      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 information shown for periods prior to November 30, 1998, reflects periods when a subadvisor (Foreign & Colonial Management Ltd. and its subsidiary Foreign and Colonial Emerging Markets Ltd.) was responsible for selecting investments for the fund. 

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

      Annual Rate of Return

      Annual Rate of Return (%)

      As of 12/31/23 | Benchmark: MSCI All Country World (ex-US) Growth Index (net div)
      annual rate of return table
      2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
      At NAV -5.32 0.02 2.39 32.17 -9.08 26.82 15.45 9.23 -15.32 14.52
      With Sales Charge -10.76 -5.73 -3.50 24.57 -14.31 19.53 8.81 2.95 -20.19 7.93
      MSCI All Country World (ex-US) Growth Index (net div) -2.65 -1.25 0.12 32.01 -14.43 27.34 22.20 5.09 -23.05 14.03
      At NAV With Sales Charge MSCI All Country World (ex-US) Growth Index (net div)
      2023 14.52 7.93 14.03
      2022 -15.32 -20.19 -23.05
      2021 9.23 2.95 5.09
      2020 15.45 8.81 22.2
      2019 26.82 19.53 27.34
      2018 -9.08 -14.31 -14.43
      2017 32.17 24.57 32.01
      2016 2.39 -3.5 0.12
      2015 0.02 -5.73 -1.25
      2014 -5.32 -10.76 -2.65
      Pricing & Distributions

      Pricing History

      • Market Price (MP): 
      Maximum data displayed is for the most recent 10 years
      Historical MP Lookup
      Enter date for which you wish to obtain a Historical MP for this fund

      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)

      Updated Daily As of 03/28/24

      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 0.47804 39.57
      12/18/23 12/19/23 12/20/23 Short Term Capital Gain 0.08176 39.57
      12/18/23 12/19/23 12/20/23 Long Term Capital Gain 0.46565 39.57
      Past performance is no guarantee of future results. Please consult your tax advisor for further information.
    • Portfolio & Holdings Information

      Portfolio & Holdings Information
      Portfolio characteristic data are based on unaudited net assets.

      The portfolio is actively managed, and current holdings may be different.

      Sector, Holding & Characterstics

      Largest Sector Weights

      As of 02/29/24

      The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

      Map represents sectors greater than 5%.

      Holding Characteristics

      Weighted average price/earnings (P/E) ratio is the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted average of the P/E ratios of the securities held, excluding companies with projected negative earnings.

      Weighted Average Price/Cash Flow: Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.

      Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.

      Price/Book ratio (P/B) is the ratio of a stock's price to its book value per share.

      Weighted Average IBES Long Term EPS Growth is the weighted average forecast, by sell side analysts of how much a company's net income will grow over the long-term (typically 3-5 years). The forecast is derived from all polled analysts' estimates. Source FactSet. 

      Weighted Average Market Cap: Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.

      Weighted Median Market Cap: Weighted Median Market Cap is the Market Capitalization of the firm defined by the median dollar within the distribution of the market capitalization of all companies in the index or portfolio. It is calculated from a running total of market capitalizations from smallest company to largest. The Market Capitalization of the firm that sorts the total dollar value of all market capitalizations into two equal portions defines the value.

      As of 02/29/24
      Data table of holding characteristics
      characterstics Equity Earning
      Weighted Average Price/Earnings (next 12 months) 19.14x
      Weighted Average Price/Cash Flow 15.39x
      Weighted Average Price/Sales 2.55x
      Weighted Average Price/Book 3.15x
      Weighted Average IBES Long Term EPS Growth 11.94%
      Weighted Average Market Cap $130.7b
      Weighted Median Market Cap $67.3b
      Number of Issues 85
      Active Share

      Active share is calculated by taking the absolute value of the difference between each issuer's weighting in the index and its weighting in the portfolio, summing, then dividing by two. The higher the number, the more the weights differ from those of the benchmark.

      76.45%
      Portfolio Turnover

      Turnover Ratio is the percentage of a portfolio's securities that have changed over the course of a year: (lesser of purchases or sales)/average market value.

      14.19%
      % in Stocks 98.73%
      % Cash & Cash Equivalents 1.27%
      % in Top Ten 35.54%

      Performance Statistics

      Alpha is a measure of the portfolio's risk-adjusted performance. When compared to the portfolio's beta, a positive alpha indicates better-than-expected portfolio performance and a negative indicates alpha worse-than-expected portfolio performance.

      Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. It is most reliable as a risk measure when the return fluctuations of the portfolio are highly correlated with the return fluctuations of the index chosen to represent the market.

      Information ratio is a measure of consistency in excess return. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return.

      R squared represents the percentage of the portfolio's movements that can be explained by the general movements of the market.  Index portfolios will tend to have values very close to 100.  R squared is not a measure of performance.

      The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. It uses a standard deviation and excess return. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance.

      Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The larger the portfolio's standard deviation, the greater the portfolio's volatility.

      Tracking error is the standard deviation of a portfolio's excess returns. Excess returns are a portfolio's return minus the benchmark's annualized return.

      Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed.

      Upside and downside capture is a measure of how well a manager was able to replicate or improve on phases of positive benchmark returns, and how badly the manager was affected by phases of negative benchmark returns. Upside capture ratio for a portfolio is calculated by taking the portfolio's return during periods when the benchmark had a positive return and dividing it by the benchmark return during that same period. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period.

      Updated Monthly As of 02/29/24
      Benchmark
      MSCI All Country World (ex-US) Growth Index (net div)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha 1.88 2.05 4.96
      Beta 0.93 0.93 0.91
      R-squared 94.39 94.51 93.91
      Standard Deviation % 14.29 16.88 17.03
      Sharpe Ratio 0.36 0.34 0.05
      Tracking Error 3.57 4.16 4.48
      Information Ratio 0.45 0.42 1.14
      Treynor Ratio 5.57 6.25 0.89
      Downside Capture % 89.45 91.11 84.27
      Upside Capture % 98.29 98.80 103.81

      Top 10 Holdings

      As of 02/29/24
      • SAP SE
      • Hitachi Ltd
      • Schneider Electric SE
      • Taiwan Semiconductor Manufacturing Co Ltd ADR
      • LVMH Moet Hennessy Louis Vuitton SE
      • Nestle SA
      • Roche Holding AG
      • Linde PLC
      • AIA Group Ltd
      • Heineken NV
      The portfolio is actively managed, and current holdings may be different.

      Type Of Holdings (%)

      As of 02/29/24

      Sector Weights (%)

      As of 02/29/24
      •  % Assets
      • Industrials
        19.80
      • Information Technology
        16.57
      • Consumer Staples
        12.76
      • Materials
        12.61
      • Consumer Discretionary
        11.72
      • Health Care
        11.55
      • Financials
        9.74
      • Communication Services
        2.34
      • Energy
        1.31
      • Utilities
        0.32
      • Cash & Cash Equivalents
        1.27

      The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry classification methodology for equity securities and non-equity securities that are unclassified by GICS.

      Region & Country

      Region & Country

      As of 02/29/24
      Region & Country Table
      Region & Country % Assets
      Europe ex-U.K.
      8 Countries
      49.01
      Emerging Markets
      8 Countries
      15.52
      Japan
      1 Countries
      10.59
      North America
      2 Countries
      9.13
      United Kingdom
      1 Countries
      8.89
      Asia/Pacific ex-Japan
      3 Countries
      5.59
      Cash & Cash Equivalents
      1 Countries
      1.27
      By Country Table
      By Country

      Top Country Weightings (%)

      As of 02/29/24
      • France
        17.86
      • Germany
        10.64
      • Japan
        10.59
      • Switzerland
        9.86
      • United Kingdom
        8.89
      • Canada
        6.02
      • Taiwan
        4.93
      • Netherlands
        4.66
      • India
        3.22
      • United States
        3.12
      Important Characteristics Information
      The portfolio is actively managed, and current holdings may be different.

      Portfolio characteristics are based on equivalent exposure, which measures how a portfolio's value would change due to price changes in an asset held either directly or, in the case of a derivative contract, indirectly. The market value of the holding may differ.

      *Short positions, unlike long positions, lose value if the underlying asset gains value.

    • Fees

      Fees

      • 1.08 % Net Expense Ratio

        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

      • 1.09 % Gross Expense Ratio

        Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.

      • 5.75 % Maximum Sales Charge
        Class A shares ("A") results include the maximum sales charge.
    • Resources

      Resources

      Product Resources

      Full Holdings available approximately 19 or 24 days after month end.

      Product Literature

      Product Literature

      Back to bonds: Why it may be time to make the move.

      Fixed Income public brochure that illustrates why the bond window of opportunity is now open for long-term investors.

      Market Declines: A History of Recoveries

      Flyer showing market declines over time and how recoveries have played out over the long-term.

      One World: Diversify Internationally

      Brochure highlighting MFS' international equity funds

      International Diversification - 20 Years of the Best and Worst

      Highlights the importance of international diversification.

      MFS International Capabilities Comparison Flyer

      Barron's Box Flyer

      Flyer showing MFS' annual rankings from Barron's since 2008

      2024 Dividend and Capital Gains Schedule

      The Power of Active Management brochure

      Investment Insights

      Investment Insights

      One World: Diversify Internationally

      Brochure highlighting MFS' international equity funds

      Announcements

      Announcements

      MORNINGSTAR RATINGS

      The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 02/29/24.

      The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

      Morningstar rankings may vary among share classes and are based on historical total returns, which are not indicative of future results. Class A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load.

      This website is a general communication and is provided for informational and/or educational purposes only. None of the content should be viewed as a suggestion that you take or refrain from taking any action nor as a recommendation for any specific investment product, strategy, plan feature or other such purpose. Your use of this website indicates that you agree with the intended purpose. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation.

      The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available online here or by contacting MFS. Consider the fund's investment objectives, risks, charges, and expenses, and otherwise read these documents carefully before you invest. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the funds involve investment risk, including possible loss of principal. 

      MFS registered investment products are offered through MFS® Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.
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