MFS® Global Governments Portfolio

Fund Overview

Objective

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

Key Differentiators

  • A high-quality portfolio consisting of government securities issued by developed countries around the globe, including the U.S.
  • Management seeks to drive performance through country and issue selection.

Managers

Fund Information

$9.93 DAILY NAV AS OF 9/1/15
55274F539 CUSIP
$200 M NET ASSETS AS OF 7/31/15
Net Asset Value (NAV)
As of 9/1/15
$9.93
NAV Change
$ 0.04  | 0.4%
Class Inception
5/16/88
Start of Investment Operations
5/16/88
Net Assets ($M)
As of 7/31/15
$200.49
Gross Expense ratio
0.84 %
Net Expense ratio
0.84 %

Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus.

Net Expense Ratio reflects the reduction of expenses from fee waivers, reimbursements, and the exclusion of interest and fees. Elimination of these reductions will result in higher expenses and lower performance.

Top 10 Holdings Details

As of 7/31/15

US Treasury Note 3.5% MAY 15 20
US Treasury Note 4.75% AUG 15 17
Italy Buoni Poliennali Del Tesoro 3.75% MAR 01 21
US Treasury Bond 3.625% FEB 15 44
Italy Buoni Poliennali Del Tesoro 5.25% AUG 01 17
Japan Government Twenty Year Bond 2.2% SEP 20 27
Japan Government Twenty Year Bond 1.5% MAR 20 34
Australia Government Bond 5.75% MAY 15 21
Spain Government Bond 5.5% JUL 30 17
Japan Government Twenty Year Bond 2.1% SEP 20 24

45.41% of total net assets

Total number of holdings: 93

Full and Historical Holdings

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

Average Annual Total Returns % Details

These results represent the percent change in net asset value.

As of 8/31/15 (YTD Updated Daily, as of 9/1/15) As of 6/30/15
 

*YTD Updated Daily as of 9/1/15, 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.

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.

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 performance is as of the date shown; it may not include the entire investment portfolio and is subject to change.

Initial Class shares have no sales charge.

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 earnings or other taxable amounts are subject to income tax and, if made prior to age 59 1/2, may be subject to an additional 10% federal tax penalty. Early withdrawals reduce the death benefit.

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

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.

Important Risk Considerations

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

  • 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 rate environments as the underlying debt instruments in the portfolio adjust to the rise in 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.

  • Investments in foreign markets can involve greater risk and volatility than U.S. investments because of adverse market, economic, industry, political, regulatory, geopolitical, or other conditions.

  • 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 lower-quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments.

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

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

Product Insights

Definitions

Average Effective Duration: 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: 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.

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 your investment or insurance professional. Read the prospectus carefully before investing.