Investment objective & strategy
As of Feb. 26, 2026 · prospectusObjective. The funds investment objective is to seek total return that exceeds the rate of inflation over the long-term, with an emphasis on current income, but also considering capital appreciation.
Strategy. MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests at least 80% of the funds net assets in inflation-adjusted debt instruments and other instruments with similar economic characteristics. Inflation-adjusted debt instruments are debt instruments whose principal and/or interest payments are adjusted for realized inflation. MFS generally focuses the funds investments in inflation-adjusted debt instruments issued by the U.S. Treasury. MFS may also invest the funds assets in other inflation-adjusted debt instruments and non-inflation-adjusted debt instruments, including corporate debt instruments, foreign government securities, securitized instruments, and other debt instruments. MFS generally invests substantially all of the funds assets in investment grade quality debt instruments. MFS may invest a significant percentage of the funds assets in a single issuer or … MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests at least 80% of the funds net assets in inflation-adjusted debt instruments and other instruments with similar economic characteristics. Inflation-adjusted debt instruments are debt instruments whose principal and/or interest payments are adjusted for realized inflation. MFS generally focuses the funds investments in inflation-adjusted debt instruments issued by the U.S. Treasury. MFS may also invest the funds assets in other inflation-adjusted debt instruments and non-inflation-adjusted debt instruments, including corporate debt instruments, foreign government securities, securitized instruments, and other debt instruments. MFS generally invests substantially all of the funds assets in investment grade quality debt instruments. MFS may invest a significant percentage of the funds assets in a single issuer or a small number of issuers. MFS may invest the funds assets in foreign securities. 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 or currency exposure, or as alternatives to direct investments. Derivatives include futures, forward contracts, options, and swaps. MFS uses an active investment approach in managing the fund that combines top-down considerations and bottom-up fundamental investment analysis to make decisions about sector allocations, duration and yield curve positioning, and security selection. In addition, market technicals (e.g., bond supply/demand dynamics) are typically considered in determining sector allocations and specific security selection. Quantitative screening tools may also be considered in determining the funds portfolio positioning. For purposes of the fund's 80% policy, net assets include the amount of any borrowings for investment purposes.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 01/15/2031 | TII | $178.94M | 11.62% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES .125 07/15/2030 | TII | $142.32M | 9.24% |
| U.S. Treasury Inflation-Protected Notes 1.75%, Due 01/15/2034 | TII | $116.08M | 7.54% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES .875% 01/15/2029 | TII | $114.63M | 7.44% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 01/15/32 | TII | $96.94M | 6.30% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-3/8% 07/15/2027 | TII | $89.86M | 5.84% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-3/4% 02/15/2042 | TII | $82.85M | 5.38% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.125% 01/15/2033 | TII | $74.67M | 4.85% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 3-5/8% 04/15/28 | US28AP | $71.90M | 4.67% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.375 07/15/33 | TII | $68.85M | 4.47% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| FlexShares iBoxx 5-Year Target Duration TIPS Index Fund · TDTF | 51% | 0.18% |
| THE HARTFORD INFLATION PLUS FUND · HIPAX, HIPCX, HIPYX, HIPIX, HIPRX, HIPSX, HIPTX, HIPFX | 48% | 0.48% |
| Fidelity Inflation-Protected Bond Index Central Fund | 47% | — |
Advisers
| Firm | Role |
|---|---|
| MASSACHUSETTS FINANCIAL SERVICES COMPANY | Adviser |
Footnotes
- Expense ratio as of February 26, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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