MFS® New Discovery Value Fund

US Equity | NDVAX
$ 15.38
$0.6 As of 12/14/17
$1.2B
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® New Discovery Value Fund

US Equity
NDVAX
$0.6 As of 12/14/17
As of 11/30/17
US Equity | NDVAX
$ 15.38
$0.6 As of 12/14/17
$1.2B
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information
INVESTMENT OBJECTIVE

Seeks capital appreciation.

INVESTMENT FOCUS

Smaller cap fund investing in attractively valued companies

Focuses on companies with high quality fundamentals, catalyst for positive change, underappreciated potential

We leverage our bottom-up, global research platform to try and identify undervalued, high quality companies that generally have solid balance sheets, resilient business models, scope for improving returns, capital investment discipline, and prospects for beneficial capital deployment.

Fund Information

Fund Commencement
05/26/11
Net Assets ($ M)
As of 11/30/17
$1208.13
Fiscal Year End
FEBRUARY
Benchmark
Russell 2000 Value Index measures U.S. small-cap value stocks.
Russell 2000® Value Index

Top 10 Holdings

As of 11/30/17
  • Portland General Electric Co
  • PNM Resources Inc
  • Medical Properties Trust Inc REIT
  • ManTech International Corp/VA
  • Select Income REIT REIT
  • El Paso Electric Co
  • Wintrust Financial Corp
  • Berry Global Group Inc
  • Prosperity Bancshares Inc
  • ITT Corp
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 small-cap companies can be more volatile than investments in larger companies.

Investments in value companies can continue to be undervalued for long periods of time, not realize their expected value, and be more volatile than the stock market in general.

The fund's performance may be closely tied to the performance of companies in a limited number of sectors and could be more volatile than the performance of less focused 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 12/14/17 , 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 Small Value

    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 Small Value

    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

    Portfolio & Holdings Information

    Portfolio characteristic data are based on unaudited net assets.

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

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    Sector, Holding & Characterstics

    Sectors, Holdings & Characteristics

    Largest Sector Weights

    As of 11/30/17
    Map represents sectors greater than 5%.

    Holding Characteristics

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

    Weighted Average Price/Earnings (next 12 months): Price/earnings ratio (P/E) is the price of a stock divided by its earnings per share.

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

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

    Weighted Average Price/Book: 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 has grown over the long-term (typically 3-5 years).  The forecast is derived from all polled analysts' estimates. Source: Ibbotson

    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.

    Holding Based Portfolio - Equity Level Data
    As of 11/30/17
    Weighted Average Price/Earnings (next 12 months) 18.67x
    Weighted Average Price/Cash Flow 14.30x
    Weighted Average Price/Sales 1.47x
    Weighted Average Price/Book 1.95x
    Weighted Average IBES Long Term EPS Growth 9.54%
    Weighted Average Market Cap $3.4b
    Weighted Median Market Cap $3.0b
    # of Stock Holdings 108
    % in Stocks 98.12%
    % Cash & Cash Equivalents 1.88%
    % in Top Ten 14.76%

    Performance Statistics

    Alpha: 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 alpha worse-than-expected portfolio performance.

    Beta: 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: Information ratio is a measure of consistency in excess return. The annualized excess return over a benchmark divided by the annualized standard deviation of excess return.

    R-squared: R2 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.

    Sharpe Ratio: 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: 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: Tracking error is the active risk of the portfolio that measures the dispersion of the portfolio's return minus the benchmark's annualized return.

    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 / Downside Capture %: The 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. To calculate the up capture, we first form new series from the manager and benchmark series by dropping all time periods where the benchmark return is zero or negative. The up capture is then the quotient of the annualized return of the resulting manager series, divided by the annualized return of the resulting benchmark series. The down capture is calculated analogously.

    Updated Monthly As of 11/30/17
    3 Yr. 5 Yr. 10 Yr.
    Alpha 3.39 3.57 n/a
    Beta 0.82 0.83 n/a
    R-squared 92.49 92.07 n/a
    Standard Deviation % 12.12 11.99 n/a
    Sharpe Ratio 1.02 1.29 n/a
    Tracking Error 4.17 4.15 n/a
    Information Ratio 0.42 0.35 n/a
    Upside Capture % 90.26 91.72 n/a
    Downside Capture % 71.88 74.34 n/a
    Treynor Ratio 14.99 18.65 n/a
    Performance-based characteristics are only calculated for Class A shares at NAV.

    Top 10 Holdings

    As of 11/30/17
    • Portland General Electric Co
    • PNM Resources Inc
    • Medical Properties Trust Inc REIT
    • ManTech International Corp/VA
    • Select Income REIT REIT
    • El Paso Electric Co
    • Wintrust Financial Corp
    • Berry Global Group Inc
    • Prosperity Bancshares Inc
    • ITT Corp

    Type Of Holdings %

    As of 11/30/17

    Sector Weights %

    As of 11/30/17
    •  % Assets
    • Financial Services
      31.94
    • Industrial Goods & Services
      15.94
    • Technology
      7.63
    • Basic Materials
      7.11
    • Utilities & Communications
      6.90
    • Health Care
      5.11
    • Energy
      4.59
    • Autos & Housing
      4.02
    • Consumer Staples
      3.91
    • Special Products & Services
      3.67
    • Retailing
      3.42
    • Leisure
      2.68
    • Cash & Cash Equivalents
      1.88
    • Transportation
      1.19
    Region & Country