Z7_OQ2QO7H20G3SC02D4O35U31DS2

Holdings Based Portfolio - Equity Level Data

As of 9/30/16

Weighted Average Price/Earnings (12 months forward ex-negative earnings)

18.27x

Weighted Average Price/Cash Flow

7.43x

Weighted Average Price/Sales

1.23x

Weighted Average Price/Book

1.69x

Weighted Average IBES Long Term EPS Growth

12.13%

Weighted Average Market Cap

$26.2b

Weighted Median Market Cap

$19.4b

# of Stock Holdings

99

%
in Stocks

95.95%

%
Cash & Cash Equivalents

4.06
%

%
Other^{1}

-0.01
%

%
in Top Ten

32.01%

Performance Based

Updated monthly as of 9/30/16

BENCHMARK:

Standard & Poor's 500 Utilities Index

Alpha

-1.24

4.08

2.03

Beta

0.47

0.51

0.80

R-squared

29.43

33.55

54.86

Standard Deviation %

11.75

11.63

15.28

Sharpe Ratio

0.38

0.86

0.48

Tracking Error

12.25

11.46

10.63

Information Ratio

-0.73

-0.17

0.01

Upside Capture %

31.37

44.73

63.24

Downside Capture %

50.62

47.51

86.57

Treynor Ratio

9.65

19.60

9.08

As of 9/30/16

NextEra Energy Inc

Exelon Corp

Sempra Energy

PPL Corp

Charter Communications Inc

EDP Renovaveis SA

Enel SpA

Calpine Corp

PG&E Corp

Exelon Corp 0.000 JUN 01 17

** 32.01% of total net assets**

**Total number of holdings: 99**

As of 9/30/16

As of 9/30/16

% Assets

Utilities & Communications

88.05

Leisure

6.37

Cash & Cash Equivalents

4.06

Energy

1.53

Other^{1}

-0.01

^{
}
Portfolio characteristic data are based on unaudited net assets.

^{
}
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.

^{
1
}
Other consists of: (i) currency derivatives and/or (ii) any derivative offsets.

**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:** 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.

**Weighted Average IBES Long Term EPS Growth:** Weighted Average IBES Long Term EPS Growth sourced from: Thomson Reuters.

**Weighted Average Market Cap:** Market capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price of a share.

**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 Price/Cash Flow:** Price-to-cash-flow is the ratio of a stock's price to its per-share cash earnings.

**Weighted Average Price/Earnings (12 months forward ex-negative earnings):** Price/earnings ratio is
the ratio of the current price of a stock to an estimate of forward 12 month earnings; P/E ex-negatives ratio is an exposure-weighted
average of the P/E ratios of the securities held in the fund, excluding companies with projected negative earnings.

**Weighted Average Price/Sales:** Price/Sales Ratio (P/S) is the ratio of a stock's price to its per-share sales.

**Weighted Median Market Cap:** 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.

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}
**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.**

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MFS Investment Management^{®}.
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s: B; nn: 8PA2; pn: usinv.Products_and_Performance.ViewProductLine97; buid: ; date: Oct 22, 2016 12:06:56 PM