6 9

Global Governments Portfolio

Without Waiver 3.22 %
With Waiver 3.47 %
As of 02/29/24
$ 8.55
$0.02 As of 03/27/24
$88M
As of 02/29/24

Global Governments Portfolio

$0.02 As of 03/27/24
As of 02/29/24
$ 8.55
$0.02 As of 03/27/24
$88M
As of 02/29/24
  • Overview

    INVESTMENT OBJECTIVE

    Seeks total return with an emphasis on current income, but also considering capital appreciation.

    INVESTMENT FOCUS

    A high-quality portfolio consisting of government securities issued by developed countries around the globe, including the US

    Management seeks to drive performance through country and issue selection

    Fund Information

    • Fund Commencement 05/16/88
    • Net Assets ($ M) As of 02/29/24 $88.67
    • Benchmark

      JPMorgan Global Government Bond Index (Unhedged) - measures developed government bond markets around the world.

      JPMorgan Global Government Bond Index (Unhedged)

    Share Class Information

    • Class Inception 05/16/88
    • Net Asset Value (NAV) As of 03/27/24 $8.55
    • Most Recent NAV Change As of 03/27/24 $0.02 | 0.23%
    • CUSIP 55274F539
    • 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.

      0.93%
    • 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 04/30/24

      0.76%

    MANAGERS

    Top 10 Holdings

    • Italy Buoni Poliennali Del Tesoro RegS 4.1% FEB 01 29
    • US Treasury Note 2.875% AUG 15 28
    • Bundesrepublik Deutschland Bundesanleihe RegS 0.5% FEB 15 28
    • US Treasury Note 3.5% FEB 15 33
    • US Treasury Bond 4.5% AUG 15 39
    • United Kingdom Gilt RegS 4.5% JUN 07 28
    • Japan Government Twenty Year Bond 0.4% SEP 20 40
    • Euro Schatz 2Yr Future MAR 07 24
    • US Treasury Note 2.375% MAY 15 27
    • Japan Government Twenty Year Bond 2.1% DEC 20 27

    Important Risk Considerations

    The portfolio may not achieve its objective and/or you could lose money on your investment in the portfolio.

    Bond: Investments in debt instruments may decline in value as the result of, or perception 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 portfolio's value may decline during rising rates. Portfolios 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.

    Emerging Markets: Emerging markets can have less market structure, depth, and regulatory, custodial or operational oversight and greater political, social, geopolitical and economic instability than developed markets.

    International: 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.

    Derivatives: 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.

    High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.

    Concentrated: The portfolio's performance could be more volatile than the performance of more diversified portfolios.

    Government Credit: Government securities not supported as to the payment of principal or interest by the full faith and credit of the government are subject to greater credit risk than are government securities supported by the full faith and credit of the government.

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

  • Performance

    Performance

    Average Annual Total Returns

    Average Annual Total Returns (%)

    These results represent the percent change in net asset value.
    Monthly | Quarterly As of 12/31/23 (*YTD Updated Daily, As of 03/27/24 , 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 units, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted.

      OVERALL
      Out Of Funds
      NA
      OVERALL MORNINGSTAR RATING
      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 portfolios' performance results would be less favorable. All results assume the reinvestment of dividends and capital gains.

      The returns for the portfolio shown do not reflect the deduction of expenses associated with variable products, such as mortality and expense risk charges, separate account charges, and sales charges imposed by insurance company separate accounts. Such expenses would reduce the overall returns shown. Please refer to the variable product's annual report for performance that reflects the deduction of the fees and charges imposed by insurance company separate accounts.

      Withdrawals of taxable amounts from variable annuity contracts prior to age 59½ may be subject to an additional 10% federal tax penalty as well as income tax. Amounts withdrawn from a variable insurance contract will reduce the death benefit and withdrawals of earnings will be subject to income tax.

      Prior to January 1, 2008, the MFS® Variable Insurance Trust II portfolios were formerly known as the MFS®Sun Life Series Trusts.

      Sales Charges

      Initial Class shares have no sales charge.

      No representation is made, and no assurance can be given, that any investment's results will be comparable to the investment results of any other product with similar investment objectives and policies, including products with the same investment professional or manager. Differences in portfolio size, investments held, contract and portfolio expenses, and other factors can be expected to affect performance.

      A Word About Variable Products

      Issued by insurance companies, variable annuity and variable life insurance contracts allow investors to accumulate money on a tax deferred basis for long-term financial goals. Mortality and expense charges (which compensate the insurance company for insurance risks it assumes under the contract), surrender charges (typically levied if a contract holder cancels it within a certain period following initial purchase), and an annual maintenance charge are among the fees typically associated with these types of variable products.
      Also keep in mind that any income guarantees are subject to the claims-paying ability of the issuing insurance company, and that contract owners have options when a contract's payout phase begins. Generally, investors may take their money in a lump sum, make discretionary or systematic distributions, or they can annuitize.
      Please refer investors to your variable annuity or life insurance contract as well as the underlying fund prospectus(es) for more detailed information and other important considerations, which should be read carefully before investing.

      Annual Rate of Return

      Annual Rate of Return (%)

      As of 12/31/23 | Benchmark: JPMorgan Global Government Bond Index (Unhedged)
      annual rate of return table
      2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
      At NAV 0.73 -3.66 0.30 6.99 -1.11 6.08 10.60 -7.43 -17.23 2.32
      JPMorgan Global Government Bond Index (Unhedged) 0.67 -2.61 1.57 6.83 -0.66 6.02 9.68 -6.50 -17.22 4.02
      At NAV JPMorgan Global Government Bond Index (Unhedged)
      2023 2.32 4.02
      2022 -17.23 -17.22
      2021 -7.43 -6.5
      2020 10.6 9.68
      2019 6.08 6.02
      2018 -1.11 -0.66
      2017 6.99 6.83
      2016 0.3 1.57
      2015 -3.66 -2.61
      2014 0.73 0.67
      Pricing & Distributions

      Pricing History

      • Market Price (MP): 
      Maximum data displayed is for the most recent 10 years
      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.

      Distribution Rates (%)

      As of 02/29/24

      Charges Distribution Rate

      30-Day Sec Yields (%)
      The fund's 30-day yield is based on the yield of a fund's investments over a 30-day period and not on the dividend paid by the fund, which may differ.

      As of 02/29/24

      Wavier Yield Value
      Without Waiver 3.22
      With Waiver 3.47
      No data currently available
    • Portfolio & Holdings Information

      Portfolio & Holdings Information
      Portfolio characteristic data are based on unaudited net assets.

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

      Sector, Holding & Characterstics

      Holding Characteristics
      Average Coupon: Average Coupon is the equivalent exposure weighted coupon of all interest bearing instruments as a percent of the total equivalent exposure of all fixed income holdings, including short term and interest rate derivatives which have coupons. Coupons are netted for securities with a payable and receivable leg. Non-accruing securities are treated as having a coupon equal to zero.

      Average Effective Duration is a measure of how much a bond's price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value.

      Average Effective Maturity is a weighted average of maturity of the bonds held in a portfolio, taking into account any prepayments, puts, and adjustable coupons which may shorten the maturity. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds.

      Weighted average yield-to-worst of all portfolio holdings excluding cash & derivatives. Yield-to-worst is the annual estimate of the portfolio yield considering factors such as call provisions, prepayments, and other features that may affect a bond's cash flow; and assumes no default. It is an estimated characteristic at a point in time and is not a measure of portfolio performance.

      Holding Based Portfolio - Equity Level Data
      As of 02/29/24
      Data table of holding characteristics
      characterstics Equity Earning
      Number of Issues 88
      % Cash & Cash Equivalents 1.56%
      % Other1 -6.81%
      % in Top Ten 49.31%
      Holding Based Portfolio - Fixed Income Level Data
      As of 02/29/24
      Data table of holding characteristics
      characteristics Fixed Earning
      Number of Issues 88
      Number of Issuers 36
      Average Coupon 3.06
      Average Effective Duration 7.53 yrs
      Average Effective Maturity 9.89 yrs
      Yield To Worst 4.03%

      Performance Statistics

      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 02/29/24
      Benchmark
      JPMorgan Global Government Bond Index (Unhedged)
      Performance Statistics Table
      10 Yr. 5 Yr. 3 Yr.
      Alpha -0.47 -0.34 -0.78
      Beta 1.02 1.03 1.01
      R-squared 98.20 98.11 98.45
      Standard Deviation % 6.55 7.81 8.81
      Sharpe Ratio -0.38 -0.56 -1.14
      Tracking Error 0.89 1.09 1.10
      Information Ratio -0.55 -0.36 -0.72
      Treynor Ratio -2.44 -4.25 -9.99
      Downside Capture % 105.36 104.99 104.22
      Upside Capture % 99.70 101.64 97.62

      Top 10 Holdings

      As of 02/29/24
      • Italy Buoni Poliennali Del Tesoro RegS 4.1% FEB 01 29
      • US Treasury Note 2.875% AUG 15 28
      • Bundesrepublik Deutschland Bundesanleihe RegS 0.5% FEB 15 28
      • US Treasury Note 3.5% FEB 15 33
      • US Treasury Bond 4.5% AUG 15 39
      • United Kingdom Gilt RegS 4.5% JUN 07 28
      • Japan Government Twenty Year Bond 0.4% SEP 20 40
      • Euro Schatz 2Yr Future MAR 07 24
      • US Treasury Note 2.375% MAY 15 27
      • Japan Government Twenty Year Bond 2.1% DEC 20 27
      The portfolio is actively managed, and current holdings may be different.
      Exposures

      Portfolio Structure (%)

      As of 02/29/24
      • Non-U.S. Sovereigns
        53.95
      • U.S. Treasuries
        39.31
      • Emerging Markets Debt
        8.70
      • Mortgage Backed
        1.60
      • Investment Grade Corporates
        0.81
      • Municipals
        0.27
      • Asset Backed
        0.25
      • Commercial Mtg Backed
        0.19
      • U.S. Govt Agencies
        0.18
      • Cash & Cash Equivalents
        1.56
      • Other1
        -6.81

      Credit Quality (%)

      As of 02/29/24
      • % of Total Net Assets
      • U.S. Government
        36.77
      • Federal Agencies
        1.78
      • AAA
        9.21
      • AA
        15.61
      • A
        8.39
      • BBB
        18.78
      • BB
        2.47
      • Other Not Rated
        6.99

      Currency Weights (%)

      As of 02/29/24
      • United States Dollar
        49.92
      • Euro
        21.26
      • Japanese Yen
        17.53
      • British Pound Sterling
        6.36
      • Norwegian Krone
        1.52
      • Canadian Dollar
        1.47
      • Indian Rupee
        0.75
      • Mexican Peso
        0.51
      • Iceland Krona
        0.50
      • Uruguay Peso
        0.45
      • Brazilian Real
        0.44
      • Australian Dollar
        0.38
      • Danish Krone
        0.24
      • Swedish Krona
        0.16
      • New Zealand Dollar
        0.00
      • South Korean Won
        0.00
      • Taiwan Dollar
        0.00
      • Czech Koruna
        -1.49
      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.

      1Other. Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.
    • Fees

      Fees

      • 0.76 % 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 04/30/24

      • 0.93 % 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.

    • Resources

      Resources

      Product Resources

      Fact Sheets are available approximately 15 days after quarter end.


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


      Full Holdings available approximately 19 or 24 days after month end.


      Performance Attribution available approximately 15 or 25 days after month end.

      Product Resources

      Product Literature

      Product Literature

      Important Announcement: Modification of Expense Limitation Agreements

      Effective August 1, 2023, MFS has agreed to lower total expense ratio caps on certain retail funds, variable insurance portfolios and closed-end funds.

      Announcements

      Announcements

      MFS PM Update (VIT)

      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.

      Before purchasing any variable product, consider the objectives, risks, charges, and expenses associated with the underlying investment option(s) and those of the product itself. For a prospectus, or summary prospectus if available, containing this and other information contact the issuing insurance company. Read the prospectus carefully before you invest.

      MFS registered investment products are offered through MFS® Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199.
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