MFS® Global Alternative Strategy Fund

Performance Statistics

Performance Based

Updated monthly as of 6/30/15

BENCHMARK:
Barclays 1-3 Year U.S. Treasury Bond Index

 
3 Yr
5 Yr
10 Yr
Alpha
4.27
5.17
n/a
Beta
2.81
1.02
n/a
R-squared
16.60
2.61
n/a
Standard Deviation %
3.69
3.61
n/a
Sharpe Ratio
1.66
1.65
n/a
Tracking Error
3.50
3.56
n/a
Information Ratio
1.57
1.45
n/a
Upside Capture %
700.14
410.69
n/a
Downside Capture %
233.12
-248.43
n/a
Treynor Ratio
2.18
5.85
n/a

Performance-based characteristics are only calculated for Class A shares at NAV.

Top 10 Holdings

As of 6/30/15

CDX IG 24 1.000 JUN 20 20
DJ Euro Stoxx 50 Future SEP 18 15
Hang Seng China Ent Index Future JUL 30 15
GBP IRS 10Yr Receiver 1.980 MAY 15 25
TOPIX Index Future SEP 10 15
OMXS30 Index Future JUL 17 15*
S&P 400 Mid Cap Future SEP 18 15*
MSCI EM Index Future SEP 18 15*
UST Bond 5Yr Future SEP 30 15*
S&P 500 Future SEP 17 15*

56.30% long and 58.58% short (*) positions of total net assets

Total number of holdings: 1007

Full and Historical Holdings

Fund Positions %

As of 6/30/15

 
Actively Managed
Overlay Impact1
Net Exposure
 Fixed Income
 
Total
48.35
U.S.
15.35
20.26
35.61
United Kingdom
0.13
9.60
9.73
Europe ex-U.K.
0.72
0.95
1.67
Emerging Markets
0.55
0.00
0.55
North America ex-U.S.
0.45
0.00
0.45
Japan
0.20
0.00
0.20
Asia/Pacific ex-Japan
0.15
0.00
0.15
 Equity
 
Total
22.24
U.S. Small/Mid Cap
19.35
-6.32
13.03
Europe ex-U.K.
7.79
3.09
10.87
Japan
3.33
3.74
7.06
United Kingdom
5.11
-2.46
2.65
Emerging Markets
1.59
0.52
2.11
North America ex-U.S.
0.73
-0.27
0.47
Developed - Middle East/Africa
0.16
0.00
0.16
Asia/Pacific ex-Japan
1.25
-3.65
-2.40
U.S. Large Cap
24.70
-36.41
-11.71
 Real Estate Related
 
Total
2.84
U.S.
2.52
0.00
2.52
Non-U.S.
0.32
0.00
0.32
 Cash
 
Total
26.56
Cash & Equivalents
4.66
-0.06
4.61
Derivative Cash Equivalents 2
0.00
21.95
21.95
Total Net Exposure Summary
89.06
10.94
100.00

1Represents the Fund's exposure to various markets using derivative instruments.

2Represents the offsetting component of the Fund's derivative transactions

Important Characteristics Information

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.

*Short positions, unlike long positions, lose value if the underlying asset gains value.

Definitions

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.

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.