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 appreciation.
Strategy. MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests at least 80% of the funds net assets in debt instruments. Debt instruments include corporate bonds, U.S. Government securities, foreign government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities), municipal instruments, and other obligations to repay money borrowed. MFS primarily invests the funds assets in investment grade quality debt instruments, but may also invest the funds assets in below investment grade quality debt instruments. MFS may purchase or sell securities for the fund on a when-issued, delayed delivery, or forward commitment basis where payment and delivery take place at a future settlement date, including mortgage-backed securities purchased or sold in the TBA market. MFS may invest the … MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests at least 80% of the funds net assets in debt instruments. Debt instruments include corporate bonds, U.S. Government securities, foreign government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities), municipal instruments, and other obligations to repay money borrowed. MFS primarily invests the funds assets in investment grade quality debt instruments, but may also invest the funds assets in below investment grade quality debt instruments. MFS may purchase or sell securities for the fund on a when-issued, delayed delivery, or forward commitment basis where payment and delivery take place at a future settlement date, including mortgage-backed securities purchased or sold in the TBA market. MFS may invest the funds assets in foreign securities. MFS normally invests the fund's assets across different industries and sectors, but MFS may invest a significant percentage of the fund's assets in issuers in a single industry or sector. 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. For purposes of the fund's 80% policy, net assets include the amount of any borrowings for investment purposes.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $270.86M | 3.28% |
| US TREASURY N/B | — | $174.24M | 2.11% |
| US TREASURY N/B | — | $168.59M | 2.04% |
| US TREASURY N/B | — | $162.12M | 1.96% |
| MFS Institutional Money Market Portfolio, Class A | — | $126.45M | 1.53% |
| US TREASURY N/B | — | $101.99M | 1.23% |
| US TREASURY N/B | — | $95.27M | 1.15% |
| US TREASURY N/B | — | $93.00M | 1.13% |
| US TREASURY N/B | — | $92.29M | 1.12% |
| FR SD8199 | — | $89.19M | 1.08% |
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 Total Return Bond Series | 67% | 0.53% |
| SA JPMorgan MFS Core Bond Portfolio | 43% | 0.54% |
| MFS Income Portfolio | 27% | 0.67% |
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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