MFS® Absolute Return Fund

Fixed Income | MRNAX
Without Waiver 0.81 %
With Waiver 1.04 %
$ 9.53
$0.01 As of 12/15/17
$204M
As of 11/30/17

MFS® Absolute Return Fund

Fixed Income
MRNAX
$0.01 As of 12/15/17
As of 11/30/17
Fixed Income | MRNAX
$ 9.53
$0.01 As of 12/15/17
$204M
As of 11/30/17
INVESTMENT OBJECTIVE

Seeks total return.

INVESTMENT FOCUS

A flexible, low volatility approach that aims to deliver absolute returns, regardless of market conditions, over a full market cycle

By investing across and within multiple asset classes, absolute return investing may offer a lower correlated alternative to traditional fixed income or equity investing.

Offers the potential to capitalize on long-term trends and short-term relative value opportunities in a dynamic global economic environment

Fund Information

Fund Commencement
03/30/11
Net Assets ($ M)
As of 11/30/17
$204.36
Fiscal Year End
MAY
Benchmark
The BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index tracks the performance of U.S. dollar denominated U.S. Treasury Bills publicly issued in the U.S. domestic market with a remaining term to final maturity of less than 3 months.
BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index

Fund Positioning %

As of 11/30/17
  Active Security Selection Derivative Overlay Positions1
LongShort*
Net Exposure
Fixed Income*   Total 102.20
U.S. 67.91
10.23 -9.53
68.61
Europe ex-U.K. 10.79
4.74 0.00
15.52
United Kingdom 5.43
3.68 0.00
9.11
Asia/Pacific ex-Japan 1.67
7.16 0.00
8.83
Emerging Markets 2.15
0.00 0.00
2.15
Supranational 0.42
0.00 0.00
0.42
Japan 2.53
0.00 -3.28
-0.75
North America ex-U.S. 3.90
0.00 -5.60
-1.70
Equity*   Total 2.90
Europe ex-U.K. 0.00
13.47 -2.39
11.08
Asia/Pacific ex-Japan 0.00
4.62 -2.61
2.01
Japan 0.00
1.73 0.00
1.73
United Kingdom 0.00
0.00 -0.29
-0.29
Emerging Markets 0.00
9.92 -10.24
-0.33
U.S. Large Cap 0.00
0.00 -2.46
-2.46
North America ex-U.S. 0.00
0.00 -4.26
-4.26
U.S. Small/Mid Cap 0.00
0.00 -4.58
-4.58
Real Estate Related*   Total 0.70
U.S. 0.70
0.00 0.00
0.70
Cash & Cash Equivalents 8.13
Other2 -13.94
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.
MANAGERS

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.

MFS' 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.

The fund's strategy to seek a positive return regardless of market conditions may not produce the intended results. The fund’s strategy to manage its exposure to asset classes, markets, and currencies may not produce the intended results. In addition, the strategies MFS may implement to limit the fund’s exposure to certain extreme market events may not work as intended, and the costs associated with such strategies will reduce the fund’s returns.

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 12/15/17 , 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 Nontraditional Bond

    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 Nontraditional Bond

    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.

    Sales Charges

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

    Annual Rate of Return %
    Pricing & Distributions