The fund may not achieve its objective and/or you could lose money on your investment in the fund. 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. Distribution rates are based on the current distribution rate per share, annualized, divided by the NAV or Market Price. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Before that, he was a research analyst in the municipal bond group at Franklin Templeton. Historical NAV may not be available for all dates. Effective after the close of business on September 29, 2023, Class R1 and R2 shares of applicable MFS funds will be closed to purchases from new eligible investors. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed. 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. Average Coupon: Average Coupon is the equivalent exposure weighted coupon of all interest bearing instruments as a percent of the total equivalent exposure of all fixed income holdings, including short term and interest rate derivatives which have coupons. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance. 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. Benchmark: Bloomberg Municipal Bond Index. Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Cookie Notice (). She also spent five years with Financial Guaranty Insurance and two years at Moody's Investors Service. 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. Portfolio characteristic data are based on unaudited net assets. Long-term Capital Gain Highlights the importance of diversification and striking the proper balance between stocks and bonds. High Yield: Investments in below investment grade quality debt instruments can be more volatile and have greater risk of default, or already be in default, than higher-quality debt instruments. 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. 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 distribution rates are computed by annualizing the current distribution rate per share (excluding short-term capital gains), and dividing the result by the public offering price (for the distribution rate including sales charge) or net asset value (for the distribution rate not including sales charge) at the end of the business day. Privacy Policy. Prior to making any investment or financial decision, you should seek individualized advice from a personal financial, tax, and other professionals who are able to provide advice in the context of your particular financial situation. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. Megan earned a Bachelor of Arts degree from Holy Cross College and a Master of Public Administration degree from New York University. Have Watchlists? 04/27/23 In structuring the fund, MFS also considers top-down factors. Michael L. Dawson is an investment officer and fixed income portfolio manager of state municipal bond strategies at MFS Investment Management (MFS). Long-term Capital Gain (*YTD Updated 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. She began her career in municipal finance at the New York City budget office. Derivatives include futures, forward contracts, options, inverse floating rate instruments, and swaps. For investors subject to the alternative minimum tax, a small portion of dividend income may be taxable. Historical NAV may not be available for all dates. 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 Other Not Rated includes other fixed income securities not rated by any rating agency. Dividends are generally subject to state and local taxes. Ratings are shown in the S&P and Fitch scale (e.g., AAA). Learn more about mutual funds at fidelity.com. Privacy Notice | For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only. You also might decide against this option if you visit the MFS site from work and others have access to your computer. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds. Lyon is France's third-largest city and a major tourist destination. He also participates in the research process and strategy discussions. Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. To receive the distribution, an investor must be a shareholder of record on that date. This site is intended for use by U.S. residents. Other Not Rated includes fixed income securities which have not been rated by any rating agency. ($ MMHYX | MFS Municipal High Income Fund;A Overview | MarketWatch MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199-7632. 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. Copyright 2023 MarketWatch, Inc. All rights reserved. Daily, Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. 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. Form 5 - An annual statement of beneficial ownership of securities (to be filed, if necessary, on an annual basis). If you are working in a public space, such as a library, you would not want to select this option. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. These conditions may not be repeated in the future. Change ($) (since Best Things to Do in Auvergne Rhne-Alpes, France Quantitative screening tools that systematically evaluate instruments may also be considered. Intraday Data provided by FACTSET and subject to terms of use. The team employs a proprietary investment process to build better insights for our clients. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. 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. Coupons are netted for securities with a payable and receivable leg. 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. Subscriber Agreement & Terms of Use | Essentially the yield-to-worst is a bond's yield-to-maturity under the least desirable bond repayment pattern under the assumption that bond market yields are unchanged. Global Recent Activity. MFS Municipal High Income Fund Class C He also participates in the research process and strategy discussions. Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. If you are not a U.S. resident, please visitOther MFS Sites. Tagged Friends. Historical NAV may not be available for all dates. Your use of this website indicates that you agree with the intended purpose. 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. 04/27/23 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. Copyright 2023 MarketWatch, Inc. All rights reserved. US Inflation Persists, Growth Revised Down, As of Therefore, the portfolio's value may decline during rising rates. 2023 Massachusetts Financial Services Company. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. MMIIX | MFS Municipal High Income Fund;I Overview | MarketWatch Login to MFS.com For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only User Name : Password : Remember me Forgot your password? Portfolio characteristic data are based on unaudited net assets. 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. 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.
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