MFS® Low Volatility Global Equity Fund

Global / Intl Equity | MVGAX
Without Waiver 1.43 %
With Waiver 1.49 %
$ 13.33
$0.02 As of 12/15/17
$187M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information

MFS® Low Volatility Global Equity Fund

Global / Intl Equity
MVGAX
$0.02 As of 12/15/17
As of 11/30/17
Global / Intl Equity | MVGAX
$ 13.33
$0.02 As of 12/15/17
$187M
As of 11/30/17
Morningstar
View Overall Morningstar Ratings Information
INVESTMENT OBJECTIVE

Seeks capital appreciation.

INVESTMENT FOCUS

Low-volatility stocks may be an appropriate alternative for risk-averse equity investors.

Over the long term, low volatility stocks historically have outpaced riskier equities.

Growth potential is a critical component of long-term portfolios.

Fund Information

Fund Commencement
12/05/13
Net Assets ($ M)
As of 11/30/17
$187.07
Fiscal Year End
AUGUST
Benchmark
MSCI All Country World Index measures developed and emerging market stock markets.
MSCI All Country World Index (net div)

Top 10 Holdings

As of 11/30/17
  • Taiwan Semiconductor Manufacturing Co Ltd ADR
  • Johnson & Johnson
  • Terumo Corp
  • Ross Stores Inc
  • Roche Holding AG
  • McDonald's Corp
  • Lockheed Martin Corp
  • Fisher & Paykel Healthcare Corp Ltd
  • Adobe Systems Inc
  • ABC-Mart Inc
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 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.

The fund's strategy to invest in historically lower-volatility equity securities may not produce the intended results if lower-volatility equity securities do not outperform thebenchmark, if in general the historical volatility of an equity security is not a good predictor of the future volatility of that equity security, and/or if the specific equity securities held by the fund become more volatile than expected. It is expected that the fund will generally underperform the equity markets during strong, rising equity markets.

MFS' investment analysis, its development and use of quantitative models, and its selection of investments may not produce the intended results and/or can lead to an investment focus that results in the fund underperforming other funds with similar investment strategies and/or underperforming the markets in which the fund invests. Investments selected using quantitative models may not produce the intended results due to the factors used in the models, the weight placed on each factor in the models, changing sources of market return, and technical issues in the design, development, implementation, and maintenance of the models (e.g., incomplete or inaccurate data, programming or other software issues, and technology failures).

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 World Large Stock

    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 World Large Stock

    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
    PERFORMANCE ATTRIBUTION

    Portfolio & Holdings Information

    Portfolio characteristic data are based on unaudited net assets.

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

    Collapse Expand
    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) 18.75x
    Weighted Average Price/Cash Flow 12.38x
    Weighted Average Price/Sales 2.01x
    Weighted Average Price/Book 2.64x
    Weighted Average IBES Long Term EPS Growth 9.81%
    Weighted Average Market Cap $90.0b
    Weighted Median Market Cap $29.3b
    # of Stock Holdings 95
    % in Stocks 99.13%
    % Cash & Cash Equivalents 0.87%
    % in Top Ten 22.26%

    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
    Benchmark
    MSCI All Country World Index (net div)
    3 Yr. 5 Yr. 10 Yr.
    Alpha 1.92 n/a n/a
    Beta 0.69 n/a n/a
    R-squared 76.20 n/a n/a
    Standard Deviation % 8.36 n/a n/a
    Sharpe Ratio 0.86 n/a n/a
    Tracking Error 5.25 n/a n/a
    Information Ratio -0.10 n/a n/a
    Upside Capture % 69.26 n/a n/a
    Downside Capture % 51.19 n/a n/a
    Treynor Ratio 10.46 n/a n/a
    Performance-based characteristics are only calculated for Class A shares at NAV.

    Top 10 Holdings

    As of 11/30/17
    • Taiwan Semiconductor Manufacturing Co Ltd ADR
    • Johnson & Johnson
    • Terumo Corp
    • Ross Stores Inc
    • Roche Holding AG
    • McDonald's Corp
    • Lockheed Martin Corp
    • Fisher & Paykel Healthcare Corp Ltd
    • Adobe Systems Inc
    • ABC-Mart Inc

    Type Of Holdings %

    As of 11/30/17

    Sector Weights %

    As of 11/30/17
    •  % Assets
    • Utilities & Communications
      17.55
    • Health Care
      15.32
    • Financial Services
      14.76
    • Consumer Staples
      13.71
    • Technology
      11.65
    • Retailing
      8.14
    • Basic Materials
      4.11
    • Leisure
      3.27
    • Industrial Goods & Services
      2.99
    • Autos & Housing
      2.91
    • Energy
      2.80
    • Special Products & Services
      1.16
    • Cash & Cash Equivalents
      0.87
    • Transportation
      0.75
    Region & Country
    Important Characteristics Information
    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.

    Fees

    • 0.99 % Net Expense Ratio

      Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance.


      These reductions will continue until at least 12/31/18

    • 1.34 % 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

    News & Announcements

    Top Picks

    • November 3, 2017

      Updated As of October 9, 2017

    • One of the "Best Mutual Fund Families"

      Updated As of February 12, 2017

    • An alternative for risk-sensitive investors

      Updated As of January 27, 2017

    Quarterly Investment Update is available approximately 25 days after quarter end.

    Product Presentation available approximately 25 days after quarter end.

    Quarterly Portfolio Review is available approximately 25 days after quarter end.

    MORNINGSTAR RATINGS

    The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 11/30/17.

    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.

    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.

    • Overview
      INVESTMENT OBJECTIVE

      Seeks capital appreciation.

      INVESTMENT FOCUS

      Low-volatility stocks may be an appropriate alternative for risk-averse equity investors.

      Over the long term, low volatility stocks historically have outpaced riskier equities.

      Growth potential is a critical component of long-term portfolios.

      Fund Information

      Fund Commencement
      12/05/13
      Net Assets ($ M)
      As of 11/30/17
      $187.07
      Fiscal Year End
      AUGUST
      Benchmark
      MSCI All Country World Index measures developed and emerging market stock markets.
      MSCI All Country World Index (net div)

      Top 10 Holdings

      As of 11/30/17
      • Taiwan Semiconductor Manufacturing Co Ltd ADR
      • Johnson & Johnson
      • Terumo Corp
      • Ross Stores Inc
      • Roche Holding AG
      • McDonald's Corp
      • Lockheed Martin Corp
      • Fisher & Paykel Healthcare Corp Ltd
      • Adobe Systems Inc
      • ABC-Mart Inc
      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 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.

      The fund's strategy to invest in historically lower-volatility equity securities may not produce the intended results if lower-volatility equity securities do not outperform thebenchmark, if in general the historical volatility of an equity security is not a good predictor of the future volatility of that equity security, and/or if the specific equity securities held by the fund become more volatile than expected. It is expected that the fund will generally underperform the equity markets during strong, rising equity markets.

      MFS' investment analysis, its development and use of quantitative models, and its selection of investments may not produce the intended results and/or can lead to an investment focus that results in the fund underperforming other funds with similar investment strategies and/or underperforming the markets in which the fund invests. Investments selected using quantitative models may not produce the intended results due to the factors used in the models, the weight placed on each factor in the models, changing sources of market return, and technical issues in the design, development, implementation, and maintenance of the models (e.g., incomplete or inaccurate data, programming or other software issues, and technology failures).

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

    • Insights
    • Performance