Dividends are generally subject to state and local taxes. 03/31/23. The credit quality of a particular security or group of securities does not ensure the stability or safety of an overall portfolio. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. ): Maximum data displayed is for the most recent 10 years. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. Portfolio characteristic data are based on unaudited net assets. MFS has been investing in municipal bonds since 1984. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. Closed-end funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund). This website is a general communication and is provided for informational and/or educational purposes only. Jason earned a Bachelor of Arts degree in economics from the University of Massachusetts and a Master of Business Administration degree from Duke University. 04/28/23 MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199. Quantitative screening tools that systematically evaluate instruments may also be considered. 14.38% of total net assets | Total Number of Holdings: 900 She began her career in municipal finance at the New York City budget office. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. If none of the 3 Rating Agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. If you check this box, anyone using the computer you are working from now will be able to enter your mfs.com homepage without having to know or enter your user name and password. ): Maximum data displayed is for the most recent 10 years. To receive the distribution, an investor must be a shareholder of record on that date. 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. The weighted average yield-to-worst of all portfolio holdings. Change ($) (since Beta is a measure of the volatility of a portfolio relative to the overall market. She co-manages several portfolios and leads a team of analysts focused on investing in US municipal debt. Past performance is no guarantee of future results. The Morningstar Rating for funds, or "star rating", is calculated for funds with at least a three-year history. She also spent five years with Financial Guaranty Insurance and two years at Moody's Investors Service. 03/31/23. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. It is calculated by taking the annualized excess return over a benchmark and dividing it by the annualized standard deviation of excess return. Because many municipal instruments are issued to finance similar projects, conditions in certain industries can significantly affect the portfolio and the overall municipal market. 04/28/23 This site is intended for use by U.S. residents. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. He began his career in the financial services industry in 1995. M), (*YTD Updated 03/31/23, Explore resources to help educate on investing basics. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds. To the extent that investments are purchased with the issuance of preferred shares, the fund's net asset value will increase or decrease at a greater rate than a comparable unleveraged fund. Privacy Notice | Flyer showing MFS' annual rankings from Barron's since 2008. Information ratio is a measure of consistency in excess return. As of 03/31/23 , subject to revision and not annualized.). Fact Sheets are available approximately 15 days after month end. Dividends are generally subject to state and local taxes. Morningstar ratings are based on risk adjusted performance. He also participates in the research process and strategy discussions. Flyer showing MFS' annual rankings from Barron's since 2008. As of Benchmark: Bloomberg Municipal Bond Index. She is a member of the National Federation of Municipal Analysts and its Boston chapter. If you are not a U.S. resident, please visit Other MFS Sites. Full Holdings available approximately 25 days after month end. Visit Lyon. Mr. Kosty, Investment Officer and Portfolio Manager of MFS Investment Management, has been employed in the investment area of MFS since 2003. Excess returns are a portfolio's return minus the benchmark's annualized return. The fund employs leverage which has been created through the issuance of variable rate municipal term preferred shares [or borrowing]. If you are working in a public space, such as a library, you would not want to select this option. US Inflation Persists, Growth Revised Down, As of The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available onlinehere or by contacting MFS. While MFS may use derivatives for any investment purpose, to the extent MFS uses derivatives, MFS expects to use derivatives primarily to increase or decrease exposure to a particular market, segment of the market, or security, to increase or decrease interest rate exposure, or as alternatives to direct investments. Seeks high current income exempt from federal income tax, but may also consider capital appreciation. A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. In structuring the fund, MFS also considers top-down factors. Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. The interval between the announcement and the payment of the next dividend. Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. View Overall Morningstar Ratings Information. -0.75%. MFS may invest 25% or more of the fund's total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers. The fund may not achieve its objective and/or you could lose money on your investment in the fund. The data depicted here showing a breakdown of fund characteristics as a percentage of assets are calculated based on the total gross assets of the fund. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). 04/27/23 All results are historical and assume the reinvestment of dividends and capital gains. Historical MP may not be available for all dates. He was named portfolio manager in 1993.Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. The portfolio is actively managed, and current holdings may be different. See the results of our collaborative approach for MFS' "All Star" portfolios. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The SEC yield is higher than the distribution yield in part due to unusual market conditions. Shares of closed-end funds frequently trade at a discount or premium to their net asset value. These conditions may not be repeated in the future. Daily NAV is the Net Asset Value per share determined using the amortized cost of portfolio securities rounded to two decimal places and is the price at which fund shares are transacted. Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Historical and current end-of-day data provided by FACTSET. Highlights the distinguishing characteristics of MFS municipal bonds. Log in to see them here or sign up to get started. All quotes are in local exchange time. MFS High Income Municipal Trust (NYSE: CXE) $0.0130 $0.0000 $0.0130 MFS High Yield Municipal Trust (NYSE: CMU) $0.0110 $0.0000 $0.0110 MFS Intermediate High Income Fund (NYSE: CIF)^ . Gary earned a Bachelor of Arts degree from the University of California and a Master of Business Administration degree from the University of Chicago. The Centre is part of a particularly dynamic ecosystem, within the second French . Visit a quote page and your recently viewed tickers will be displayed here. Congratulations on personalizing your experience. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. The Fund invests, under normal market conditions, at least 80 . Geoffrey L. Schechter, CFA, CPA, is an investment officer at MFS Investment Management (MFS) and a portfolio manager of the firm's government securities and municipal bond portfolios.Geoff joined MFS as an investment officer in 1993 after working as a municipal credit analyst with a major insurance company. ): Change (%) (since Geoffrey L. Schechter, CFA, CPA, is an investment officer at MFS Investment Management (MFS) and a portfolio manager of the firm's government securities and municipal bond portfolios. Concentrated:The portfolio's performance could be closely tied to the economic, political, and other conditions in the state and other states and U.S. territories and possessions in which the portfolio invests and could be more volatile than the performance of more geographically diversified portfolios. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The weighted average yield-to-worst of all portfolio holdings. The quality ratings of individual issues/issuers are provided to indicate the credit-worthiness of such issues/issuer and generally range from AAA, Aaa, or AAA (highest) to D, C, or D (lowest) for S&P, Moodys, and Fitch respectively. He began his career in the financial services industry in 1995. Daily NAV is the Net Asset Value per share determined using the amortized cost of portfolio securities rounded to two decimal places and is the price at which fund shares are transacted. 2023 MFS Investment Management. Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. Form 3 - An initial statement of beneficial ownership of securities (to be filed upon becoming an insider); Form 4 - A statement of changes of beneficial ownership of securities (to be filed upon certain transactions of funds shares); and. The fund may at . Gross assets consist of the total net assets of the fund plus the amounts borrowed to create leverage. Full Holdings available approximately 25 days after month end. The gain on the sale of a capital asset where the holding period was more than 12 months and the profit was subject to the long-term capital gains tax. If you do NOT click this box, you will have to enter your user name and password each time you wish to view your mfs.com homepage. The Record Date is the date on which a fund declares a distribution. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. The portfolio itself has not been rated by any rating agency. For the best MarketWatch.com experience, please update to a modern browser. Shareholders may request a printed version of an MFS Closed-End Fund's Annual or Semiannual report by calling (800) 637-2304 any business day between the hours of 9:00 am and 5:00 pm. (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain 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. As of Long-term Capital Gain 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. Information you'll need to file your taxes, including funds not issuing Form 1099-DIV, online tax forms and account access, percentage of government income, earned income by state, and alternative minimum tax percentage. The Fund invests, under normal market conditions, at least 80 . Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. ($ A beta less than 1.0 indicates lower risk than the market; a beta greater than 1.0 indicates higher risk than the market. Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. If you are working in a public space, such as a library, you would not want to select this option. Net Assets Treynor Ratio: Treynor Ratio is a risk adjusted measure of performance. 1939, Enter date for which you wish to obtain a Historical NAV for this fund, Enter date for which you wish to obtain a Historical MP for this fund, Holding Based Portfolio - Fixed Income Level Data, Updated Monthly As of For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. All quotes are in local exchange time. 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. 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. Ratings are shown in the S&P and Fitch scale (e.g., AAA). Portfolio information is subject to change due to active management. She previously worked for Eaton Vance Management for seven years. MFS may invest a significant percentage of the funds assets in issuers in a single state, territory, or possession, or a small number of states, territories, or possessions. He also participates in the research process and strategy discussions. The market value of the holding may differ. These results represent the percent change in net asset value. This version includes Municipal Intermediate Fund. Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. SCHLOUK is drinking a Beli'Ale by Brasserie Haarddrch. This website is a general communication and is provided for informational and/or educational purposes only. Jason joined the firm in 2003 as a municipal bond research analyst and took on portfolio management responsibilities in 2014. 04/27/23 PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 5%, BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 5%, NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY MTG REV 4.5% 4.5%, TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5%, TUSCALOOSA CNTY ALA INDL DEV GULF OPPORTUNITY ZONE 5.25%, PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.33%, 25 Tips Every Mutual Fund Investor Should Know, 7 Questions to Ask When Buying a Mutual Fund. Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. For all securities other than those described below, ratings are assigned utilizing ratings from Moodys, Fitch, and Standard & Poors and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. Your use of this website indicates that you agree with the intended purpose. MFS Municipal High Income Fund;C Watch list Last Updated: Mar 13, 2023 $ 7.28 0.02 0.28% Previous Close $7.26 Advanced Charting 6.87 52 Week Range 8.13 Partner Center Your Watchlists Customize. Visit Place St. Andr, the heart of the city's historic quarter. If you are working in a public space, such as a library, you would not want to select this option. Tracking error is the standard deviation of a portfolio's excess returns. 03/31/23, Explore resources to help educate on investing basics. Register MFS Access For Shareholders Only Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. 03/31/23, 8.53% of total net assets | Anais Favre is drinking a Betray'Ale by Brasserie Haarddrch. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. Something went wrong while loading Watchlist. Find an overview of how mutual funds are taxed, details about the tax forms you receive from MFS, and instructions for using this information to complete your tax return. Earned the Fruits of Your Labor (Level 58) badge! The core principles of our approach are integrated research, global collaboration and active risk management. Fact Sheets are available approximately 15 days after month end. As of 04/30/23 , subject to revision and not annualized.). Non-accruing securities are treated as having a coupon equal to zero. (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain To the extent that investments are purchased through the use of leverage, the fund's net asset value will increase or decrease at a greater rate than a comparable unleveraged fund. Alpha is a measure of the portfolio's risk-adjusted performance. Excess returns are a portfolio's return minus the benchmark's annualized return. Fact Sheets are available approximately 15 days after month end. Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. These conditions may not be repeated in the future. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Total Number of Holdings: The Sharpe Ratio is a risk-adjusted measure calculated to determine reward per unit of risk. Leverage: Leverage involves investment exposure in an amount exceeding the initial investment. 8.53% of total net assets | Total Number of Holdings: 1939 Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. Investments are selected primarily based on fundamental analysis of individual instruments and their issuers. The Clermont-Auvergne-Rhne-Alpes Centre brings together the units located in the Auvergne region, from Bourbonnais to Aurillac via Clermont-Ferrand, with 14 research units and 14 experimental facilities, representing 840 staff (permanent and contractual staff). Jason R. Kosty is an investment officer and fixed income portfolio manager of national municipal bond strategies at MFS Investment Management (MFS). View Overall Morningstar Ratings Information. Market Price: The market price of common shares of the fund will be based on factors such as the supply and demand for common shares in the market and general market, economic, political or regulatory conditions. Shares of the funds involve investment risk, including possible loss of principal. The core principles of our approach are integrated research, global collaboration and active risk management. The fund may not achieve its objective and/or you could lose money on your investment in the fund. The amount of distributions may vary depending on a number of factors. 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. Bloomberg Municipal Bond Index measures the municipal bond market. Michael earned a Bachelor of Science degree in political science from Santa Clara University and a Master of Business Administration degree in finance from Babson College. Change ($) (since Employed in the investment area of MFS since 2015. 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. For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only. Municipal Bond: Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions. The MFS MMHBX Municipal High Income Fund summary. The fund has benefitted from the experience, continuity and stability of the investment team and accessing our integrated global investment platform, Portfolio management-driven approach to risk budgeting; quantitative tools help analyze market risk; and, an experienced analyst team focuses on idiosyncratic risk, Risk-aware approach with a focus on consistent long-term outperformance. As of 04/30/23 , subject to revision and not annualized.). Historical MP may not be available for all dates. R squared is not a measure of performance. Municipal Bond: Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions. Therefore, the portfolio's value may decline during rising rates. Despite its mountain location, Grenoble is a low-lying city. Before that, he was a research analyst in the municipal bond group at Franklin Templeton. For all securities other than those described below, ratings are assigned utilizing ratings from Moodys, Fitch, and Standard & Poors and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. Historical NAV may not be available for all dates. Subscriber Agreement & Terms of Use | In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. 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. Beta is a measure of the volatility of a portfolio relative to the overall market. You also might decide against this option if you visit the MFS site from work and others have access to your computer. Compares four national municipal funds across the credit quality and maturity spectrum to help make the selection process easier. Your use of this website indicates that you agree with the intended purpose. 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. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. MFS Municipal High Income Fund Class I. 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. All results are historical and assume the reinvestment of dividends and capital gains. Geoffrey L. Schechter, CFA, CPA, is an investment officer at MFS Investment Management (MFS) and a portfolio manager of the firm's government securities and municipal bond portfolios.Geoff joined MFS as an investment officer in 1993 after working as a municipal credit analyst with a major insurance company. She co-manages several portfolios and leads a team of analysts focused on investing in US municipal debt. (*YTD Updated Daily, Login to MFS.com For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only User Name : Password : Remember me Forgot your password? Megan joined MFS in 2015 as a fixed income analyst and was named director of research in 2017, adding portfolio management responsibilities in 2022. Historical MP may not be available for all dates. Full and Historical Holdings. Please consult your tax advisor for further information. 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. . 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. It uses a standard deviation and excess return. Whether shareholders will realize gains or losses upon the sale of common shares of the fund will depend on the market price of common shares at the time of the sale, not on the fund's net asset value. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. Municipal Bond: Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions. Jason earned a Bachelor of Arts degree in economics from the University of Massachusetts and a Master of Business Administration degree from Duke University. The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 02/28/23. Morningstar Overall Rating As of 02/28/23 Class I Shares, Net Assets This browser is no longer supported at MarketWatch. Class B shares ("B") results include the applicable contingent deferred sales charge (CDSC), which declines over six years from 4% to 0%.