Emphasis is placed on companies whose duration of growth potential we believe is underappreciated by the market
Fundamentals and valuation drive position sizing
Growth portfolio that seeks high-quality, above-average businesses with cross-cycle growth characteristics
Fund Information
Fund Commencement
12/29/86
Net Assets
($
M)
As of 04/30/24
$42391.34
Fiscal Year End
NOVEMBER
Benchmark
Russell 1000 Growth Index measures large-cap U.S. growth stocks.
Russell 1000® Growth Index
Share Class Information
Class Inception
01/02/97
Net Asset Value (NAV)
As of 05/17/24
$202.69
Most Recent NAV Change
As of 05/17/24
$0.14
|
0.07%
Fund Number
807
Maximum Sales Charge
--
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.
0.61%
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 03/31/25
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.
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.
Eric Fischman, CFA
Portfolio Manager
33
YEARS WITH INDUSTRY
22
YEARS WITH PORTFOLIO
33
YEARS WITH INDUSTRY
22
YEARS WITH PORTFOLIO
Eric B. Fischman, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk assessment and cash management. He also participates in the research process and strategy discussions.
Eric joined MFS as an equity research analyst in 2000 and was named portfolio manager in 2002. Prior to joining the firm he served as an equity research analyst at State Street Research and as a staff attorney at the US Federal Reserve Board in Washington, D.C.
Eric earned a Master of Business Administration degree from Columbia Business School, a law degree from Boston University School of Law and a bachelor's degree from Cornell University. He holds the Certified Financial Analyst (CFA) designation.
Bradford Mak
Portfolio Manager
19
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
19
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
Bradford J. Mak is an investment officer and equity portfolio manager for the US Growth and Global Strategic Equity strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.
Brad joined MFS in 2010 as an equity research analyst, served as the US technology sector team leader from 2016 through 2019 and assumed his current role in 2020. He previously was an investment research analyst for two years at Kingsbrook Partners LP, a spinout of Highbridge Capital Management, where he covered small-cap companies as a generalist. He also spent two years as an investment research analyst at Highbridge, three years as a private equity associate in the health care group at Paul Capital Partners and two years as a strategic planning manager at Genentech, Inc. He has worked in the financial services industry since 2003.
Brad has a Bachelor of Arts degree with honors from Brown University and was the recipient of its Royce Fellowship. He earned his Master of Business Administration degree from Harvard University.
These results represent the percent change in net asset value.
Monthly|QuarterlyAs of
03/31/24
(*YTD Updated
Daily,
As of 05/17/24 , subject to revision and not annualized.)
The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
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 Class I Shares
Morningstar
Morningstar ratings are based on risk adjusted performance.
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 I shares are available without a sales charge to eligible investors.
Annual Rate of Return
Annual Rate of Return (%)
As of
12/31/23|Benchmark: Russell 1000® Growth Index
annual rate of return table
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
8.79
7.37
2.46
30.86
2.59
37.69
31.61
23.65
-31.15
36.13
Russell 1000® Growth Index
13.05
5.67
7.08
30.21
-1.51
36.39
38.49
27.60
-29.14
42.68
At NAV
Russell 1000® Growth Index
2023
36.13
42.68
2022
-31.15
-29.14
2021
23.65
27.6
2020
31.61
38.49
2019
37.69
36.39
2018
2.59
-1.51
2017
30.86
30.21
2016
2.46
7.08
2015
7.37
5.67
2014
8.79
13.05
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
05/17/24
Net Asset Value (NAV):
$202.69
Change ($) (since
05/16/24
):
0.14
Change (%) (since
05/16/24
):
0.07
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
Enter date for which you wish to obtain a Historical NAV for this fund
Historical NAV may not be available for all dates.
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.
Historical Exit Price Table
NAV at Close of Trading on
Net Asset Value (NAV)
No Data Available
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
05/18/24
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
Long Term Capital Gain
7.90687
171.73
07/28/23
07/31/23
08/01/23
Long Term Capital Gain
0.45192
168.10
Past performance is no guarantee of future results. Please consult your tax advisor for further information.
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
04/30/24
Benchmark
Russell 1000® Growth Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
-0.23
-1.51
-2.11
Beta
0.94
0.93
0.97
R-squared
96.15
96.95
97.10
Standard Deviation %
16.38
19.67
20.59
Sharpe Ratio
0.79
0.59
0.15
Tracking Error
3.35
3.72
3.58
Information Ratio
-0.35
-0.76
-0.72
Treynor Ratio
13.70
12.42
3.23
Downside Capture %
96.28
96.39
101.33
Upside Capture %
94.58
91.09
94.06
Top 10 Holdings
As of
04/30/24
Microsoft Corp
NVIDIA Corp
Amazon.com Inc
Alphabet Inc Class A
Meta Platforms Inc
Apple Inc
Mastercard Inc
Visa Inc
Eli Lilly & Co
Boston Scientific Corp
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
No data currently available
Region & Country
Region & Country
No data currently available
Top Country Weightings (%)
No data currently available
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.
1Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
Fees
0.60% 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 03/31/25
0.61% 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.
-
Maximum Sales Charge
Class I shares are available without a sales charge to eligible investors.
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.
This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online. Read it carefully.
MFS registered investment products are offered through MFS® Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.
Emphasis is placed on companies whose duration of growth potential we believe is underappreciated by the market
Fundamentals and valuation drive position sizing
Growth portfolio that seeks high-quality, above-average businesses with cross-cycle growth characteristics
Fund Information
Fund Commencement
12/29/86
Net Assets
($
M)
As of 04/30/24
$42391.34
Fiscal Year End
NOVEMBER
Benchmark
Russell 1000 Growth Index measures large-cap U.S. growth stocks.
Russell 1000® Growth Index
Share Class Information
Class Inception
01/02/97
Net Asset Value (NAV)
As of 05/17/24
$202.69
Most Recent NAV Change
As of 05/17/24
$0.14
|
0.07%
Fund Number
807
Maximum Sales Charge
--
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.
0.61%
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 03/31/25
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.
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.
Eric Fischman, CFA
Portfolio Manager
33
YEARS WITH INDUSTRY
22
YEARS WITH PORTFOLIO
33
YEARS WITH INDUSTRY
22
YEARS WITH PORTFOLIO
Eric B. Fischman, CFA, is an investment officer and portfolio manager at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction, risk assessment and cash management. He also participates in the research process and strategy discussions.
Eric joined MFS as an equity research analyst in 2000 and was named portfolio manager in 2002. Prior to joining the firm he served as an equity research analyst at State Street Research and as a staff attorney at the US Federal Reserve Board in Washington, D.C.
Eric earned a Master of Business Administration degree from Columbia Business School, a law degree from Boston University School of Law and a bachelor's degree from Cornell University. He holds the Certified Financial Analyst (CFA) designation.
Bradford Mak
Portfolio Manager
19
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
19
YEARS WITH INDUSTRY
3
YEARS WITH PORTFOLIO
Bradford J. Mak is an investment officer and equity portfolio manager for the US Growth and Global Strategic Equity strategies at MFS Investment Management® (MFS®). In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. He also participates in the research process and strategy discussions.
Brad joined MFS in 2010 as an equity research analyst, served as the US technology sector team leader from 2016 through 2019 and assumed his current role in 2020. He previously was an investment research analyst for two years at Kingsbrook Partners LP, a spinout of Highbridge Capital Management, where he covered small-cap companies as a generalist. He also spent two years as an investment research analyst at Highbridge, three years as a private equity associate in the health care group at Paul Capital Partners and two years as a strategic planning manager at Genentech, Inc. He has worked in the financial services industry since 2003.
Brad has a Bachelor of Arts degree with honors from Brown University and was the recipient of its Royce Fellowship. He earned his Master of Business Administration degree from Harvard University.
These results represent the percent change in net asset value.
Monthly|QuarterlyAs of
03/31/24
(*YTD Updated
Daily,
As of 05/17/24 , subject to revision and not annualized.)
The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
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 Class I Shares
Morningstar
Morningstar ratings are based on risk adjusted performance.
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 I shares are available without a sales charge to eligible investors.
Annual Rate of Return
Annual Rate of Return (%)
As of
12/31/23|Benchmark: Russell 1000® Growth Index
annual rate of return table
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
At NAV
8.79
7.37
2.46
30.86
2.59
37.69
31.61
23.65
-31.15
36.13
Russell 1000® Growth Index
13.05
5.67
7.08
30.21
-1.51
36.39
38.49
27.60
-29.14
42.68
At NAV
Russell 1000® Growth Index
2023
36.13
42.68
2022
-31.15
-29.14
2021
23.65
27.6
2020
31.61
38.49
2019
37.69
36.39
2018
2.59
-1.51
2017
30.86
30.21
2016
2.46
7.08
2015
7.37
5.67
2014
8.79
13.05
Pricing & Distributions
Pricing History
NAV at Close of Trading on:
05/17/24
Net Asset Value (NAV):
$202.69
Change ($) (since
05/16/24
):
0.14
Change (%) (since
05/16/24
):
0.07
Market Price (MP):
Maximum data displayed is for the most recent 10 years
Historical NAV Lookup
Enter date for which you wish to obtain a Historical NAV for this fund
Historical NAV may not be available for all dates.
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.
Historical Exit Price Table
NAV at Close of Trading on
Net Asset Value (NAV)
No Data Available
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
05/18/24
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
Long Term Capital Gain
7.90687
171.73
07/28/23
07/31/23
08/01/23
Long Term Capital Gain
0.45192
168.10
Past performance is no guarantee of future results. Please consult your tax advisor for further information.
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
04/30/24
Benchmark
Russell 1000® Growth Index
Performance Statistics Table
10 Yr.
5 Yr.
3 Yr.
Alpha
-0.23
-1.51
-2.11
Beta
0.94
0.93
0.97
R-squared
96.15
96.95
97.10
Standard Deviation %
16.38
19.67
20.59
Sharpe Ratio
0.79
0.59
0.15
Tracking Error
3.35
3.72
3.58
Information Ratio
-0.35
-0.76
-0.72
Treynor Ratio
13.70
12.42
3.23
Downside Capture %
96.28
96.39
101.33
Upside Capture %
94.58
91.09
94.06
Top 10 Holdings
As of
04/30/24
Microsoft Corp
NVIDIA Corp
Amazon.com Inc
Alphabet Inc Class A
Meta Platforms Inc
Apple Inc
Mastercard Inc
Visa Inc
Eli Lilly & Co
Boston Scientific Corp
The portfolio is actively managed, and current holdings may be different.
Type Of Holdings (%)
No data currently available
Region & Country
Region & Country
No data currently available
Top Country Weightings (%)
No data currently available
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.
1Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
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 03/31/25
0.61% 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.
-
Maximum Sales Charge
Class I shares are available without a sales charge to eligible investors.
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.
This publication is authorized for distribution only when preceded or accompanied by a prospectus, or summary prospectus, for the portfolio being offered. Consider the fund's investment objectives, risks, charges and expenses. Contact MFS or view online. Read it carefully.
MFS registered investment products are offered through MFS® Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.