MFS® Tennessee Municipal Bond Fund

Tax-Advantaged FI | MSTNX
Without Waiver 1.45 %
With Waiver 1.54 %
$ 10.39
$0.01 As of 12/15/17
$111M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® Tennessee Municipal Bond Fund

Tax-Advantaged FI
MSTNX
$0.01 As of 12/15/17
As of 11/30/17
Tax-Advantaged FI | MSTNX
$ 10.39
$0.01 As of 12/15/17
$111M
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 the Tennessee Hall 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
08/12/88
Net Assets ($ M)
As of 11/30/17
$111.14
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
  • Memphis-Shelby County Sports Authority Inc Ref-Memphis Arena Proj-Ser B 5.375 NOV 01 29
  • Memphis-Shelby County Industrial Development Board TN Ref-Ser B 5.000 NOV 01 30
  • Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue 5.000 JUL 01 32
  • County of Shelby TN Ref-Ser A 5.000 MAR 01 28
  • Metropolitan Government of Nashville & Davidson County TN Ref-Ser D 5.000 JUL 01 21
  • Met Govt Nashville & Davidson Cnty Hlth & Educ Facs Bd TN Unrefunded-Vanderbilt-Ser 5.000 OCT 01 34
  • City of Chattanooga TN Ser A 5.000 SEP 01 33
  • Met Govt Nashville & Davidson Cnty Hlth & Edu Facs Bd TN Vanderbilt Univ Med Cntr-Ser 5.000 JUL 01 4
  • Tennessee State School Bond Authority TN Higher Eductnl Facs 2Nd Progra STHED 5.000 NOV 01 36
  • Shelby County Health Edu & Housing Facilities Brd TN Methodist Le Bonheur Hlthcare- 5.000 MAY 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 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 12/15/17 , 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 Muni Single State Long

    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 Single State Long

    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