Investment objective & strategy
As of Aug. 27, 2025 · prospectusObjective. The funds investment objective is to seek total return with an emphasis on current income, but also considering capital preservation.
Strategy. MFS (Massachusetts Financial Services Company, the fund's investment adviser) normally invests the funds assets primarily in debt instruments. Debt instruments include U.S. Government securities, corporate debt instruments, foreign government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities), and other obligations to repay money borrowed. The funds dollar-weighted average effective maturity will normally not exceed five years. MFS generally invests substantially all of the funds assets in investment grade quality debt instruments. MFS invests the funds assets in U.S. securities and U.S. dollar-denominated foreign securities, which may include emerging market securities. MFS normally invests the fund's assets across different industries, sectors, countries, and regions, but MFS may invest a significant percentage of the funds assets in issuers in a … MFS (Massachusetts Financial Services Company, the fund's investment adviser) normally invests the funds assets primarily in debt instruments. Debt instruments include U.S. Government securities, corporate debt instruments, foreign government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities), and other obligations to repay money borrowed. The funds dollar-weighted average effective maturity will normally not exceed five years. MFS generally invests substantially all of the funds assets in investment grade quality debt instruments. MFS invests the funds assets in U.S. securities and U.S. dollar-denominated foreign securities, which may include emerging market securities. MFS normally invests the fund's assets across different industries, sectors, countries, and regions, but MFS may invest a significant percentage of the funds assets in issuers in a single industry, sector, country, or region. MFS may invest a significant percentage of the funds assets in a single issuer or a small number of issuers. 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. Derivatives include futures, forward contracts, options, and swaps. MFS uses an active bottom-up investment approach to buying and selling investments for the fund. Investments are selected primarily based on fundamental analysis of individual instruments and their issuers. Quantitative screening tools that systematically evaluate instruments may also be considered. In structuring the fund, MFS also considers top-down factors.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $343.99M | 10.29% |
| US TREASURY N/B | — | $288.78M | 8.64% |
| MFS Institutional Money Market Portfolio, Class A | — | $94.40M | 2.82% |
| US TREASURY N/B | — | $66.03M | 1.98% |
| US TREASURY N/B | — | $50.25M | 1.50% |
| BANK OF AMER CRP | — | $22.62M | 0.68% |
| Dryden 75 CLO Ltd., Series 2019-75A, Class BR3 | — | $19.16M | 0.57% |
| MORGAN STANLEY | — | $18.73M | 0.56% |
| JPMORGAN CHASE | — | $18.12M | 0.54% |
| TCW CLO Ltd., Series 2020-1A, Class BR3 | — | $17.91M | 0.54% |
Portfolio moves
Jan 31, 2026 → Apr 30, 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. |
|---|---|---|
| MFS Limited Maturity Portfolio | 77% | 0.48% |
| MFS Commodity Strategy Fund · MCSAX, MCSFX, MCSHX, MCSIX, MCSNX, MCSOX, MCSQX, MCSTX, MCSRX | 60% | 0.81% |
| MFS INTERMEDIATE INCOME TRUST | 15% | — |
Advisers
| Firm | Role |
|---|---|
| MASSACHUSETTS FINANCIAL SERVICES COMPANY | Adviser |
Footnotes
- Expense ratio as of August 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of April 30, 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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