MFS® Conservative Allocation Portfolio

Fund Overview

Objective

Seeks a high level of total return consistent with a conservative level of risk relative to the other MFS Asset Allocation Portfolios.

Key Differentiators

  • A strategically allocated, broadly diversified portfolio of MFS funds in a single investment
  • Disciplined rebalancing is achieved through strategic risk-based approach to portfolio construction and active management in line with MFS strategies
  • Strategic risk-based approach to portfolio construction

Managers

Fund Information

$11.02 DAILY NAV AS OF 9/2/15
86664T516 CUSIP
$748 M NET ASSETS AS OF 7/31/15
Net Asset Value (NAV)
As of 9/2/15
$11.02
NAV Change
$ 0.05  | 0.46%
Class Inception
10/1/08
Net Assets ($M)
As of 7/31/15
$748.78
Average Effective Maturity
As of 7/31/15
7.66 yrs
Average Effective Duration
As of 7/31/15
5.03 yrs
Gross Expense ratio
0.69 %
Net Expense ratio
0.69 %

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

FNMA 30YR 4.0
US Treasury Note 1.625% JUN 30 19
US Treasury Note 0.75% JUN 30 17
US Treasury Note 3.5% MAY 15 20
US Treasury Bond 4.5% AUG 15 39
US Treasury Note 4.75% AUG 15 17
GNMA (II) 30YR 3.5
FNMA 30YR 4.5
FHLMC GOLD 30YR 3.5
FHLMC GOLD 30YR 4.0

7.12% of total net assets

Total number of holdings: 2195

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.

Performance figures shown for periods before December 8, 2012, represent performance of the prior investment adviser and sub-adviser to the fund's predecessor under the previous investment strategies for the Fund.

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.

  • 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 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 small-cap companies can be more volatile than investments in larger companies.

  • MFS’ strategy of investing in underlying funds exposes the fund to the risks of the underlying funds. Each underlying fund pursues its own objective and strategies and may not achieve its objective.

  • 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.