. Privacy Notice | 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. Seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. Something went wrong while loading Watchlist. 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. Compares four national municipal funds across the credit quality and maturity spectrum to help make the selection process easier. MFS has been investing in municipal bonds since 1984. He also participates in the research process and strategy discussions. Please note: The Section 16 Filing links for each MFS Closed-End Fund listed above connect you to the EDGAR database for the specific fund; you will leave www.mfs.com. 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. Information ratio is a measure of consistency in excess return. 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. 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. Historical NAV may not be available for all dates. 04/27/23 The fund invests, under normal market conditions, at least 80% of its net assets in securities and other investments, the interest on which is exempt from federal income tax. Shares of the funds involve investment risk, including possible loss of principal. The Payable Date is the date on which the distribution is paid to shareholders. Full and Historical Holdings. She began her career in municipal finance at the New York City budget office. MMHYX - MFS Municipal High Income A - Review the MMHYX stock price, growth, performance, sustainability and more to help you make the best investments. Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199. Gross Expense Ratio: The Gross Expense Ratio is the fund's total operating expense ratio from the fund's most recent prospectus. The Fund invests, under normal market conditions, at least 80% of its net assets in securities and other investments, the interest on which is exempt from federal income tax. Anais Favre is drinking a Betray'Ale by Brasserie Haarddrch. MFS (Massachusetts Financial Services Company, the funds investment adviser) normally invests the funds assets primarily in municipal instruments. Register MFS Access For Shareholders Only Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. Bloomberg Municipal Bond Index measures the municipal bond market. 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. These conditions may not be repeated in the future. The fund employs leverage which has been created through the issuance of variable rate municipal term preferred shares [or borrowing]. Alpha is a measure of the portfolio's risk-adjusted performance. Employed in the investment area of MFS since 2015. Morningstar ratings are based on risk adjusted performance. Duration, representing the fund's sensitivity to shifts in interest rate, does take this leverage effect into account in its calculation; Average Effective Maturity does not. 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 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. 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. This piece shows annual returns for broad-based asset classes ranked from best to worst, and includes the growth of $100,000 for each asset class over two separate decades. ): Change (%) (since Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. Leverage can cause increased volatility by magnifying gains or losses. The following filings are periodically made with the SEC via EDGAR, an online submission and database website, by insiders of MFS' closed-end funds (i.e. Copyright 2023 MarketWatch, Inc. All rights reserved. If you are not a U.S. resident, please visit Other MFS Sites. The portfolio itself has not been rated by any rating agency. There are currently no items in this Watchlist. 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 Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. 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. Massachusetts Dev Finance Agency MA Ref-Ser A 4.000 JUL 01 44, City & County of Denver CO Etm-Ser C 6.125 NOV 15 25, Tennessee Energy Acquisition Corp TN Var-Ref-Gas Proj-Ser A-1 5.000 MAY 01 53, Downey Unified School District CA Election 2014-Ser B 4.000 AUG 01 41, Buckeye Tobacco Settlement Financing Auth OH Ref-Senior-Class 2-Ser B-2 5.000 JUN 01 55, Public Finance Authority WI Amt-Ref-Sr-Oblig Group 5.250 JUL 01 28, Main Street Natural Gas Inc GA Ser A 5.000 JUN 01 53, WA Health Care Facilities Authority Providence Hlth & Svcs-Ser A 5.000 OCT 01 33, City of Houston TX Airport System Revenue Amt-Ser B-1 5.000 JUL 15 30, CA State Public Works Board Ser A 5.000 SEP 01 33, Nomination and Compensation Committee Charter, Municipal Bond Funds: Computing Your State Tax, MFS Closed End Fund Portfolio Management Team Announcement. 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. The Record Date is the date on which a fund declares a distribution. For the best MarketWatch.com experience, please update to a modern browser. For Financial Advisors, RIAs, Analysts, Institutional Clients and Consultants only. 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. 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. The fund may not achieve its objective and/or you could lose money on your investment in the fund. Lyon is France's third-largest city and a major tourist destination. 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. He was named portfolio manager in 1993. The contents of this form are subject to the MutualFunds.com In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. 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. The core principles of our approach are integrated research, global collaboration and active risk management. 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. Change ($) (since These results represent the percent change in net asset value. This website is a general communication and is provided for informational and/or educational purposes only. 03/31/23. Flyer showing MFS' annual rankings from Barron's since 2008. 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. Earned the Fruits of Your Labor (Level 58) badge! Michael joined MFS in 1998 and was named to his current role in 1999. Other Not Rated includes other fixed income securities not rated by any rating agency. Before that, he was a research analyst in the municipal bond group at Franklin Templeton. Our portfolio managers are supported by our entire team of investment professionals in nine worldwide offices. Visit a quote page and your recently viewed tickers will be displayed here. Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. 03/31/23. She previously worked for Eaton Vance Management for seven years. As of Please see the prospectus for further information on these and other risk considerations. Seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. If you are working in a public space, such as a library, you would not want to select this option. Close tooltip. 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. Full and Historical Holdings. 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. The core principles of our approach are integrated research, global collaboration and active risk management. Elimination of these reductions will result in higher expenses and lower performance. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. 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. Seeks high current income exempt from federal income tax, but may also consider capital appreciation. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. M), (*YTD Updated 03/31/23, 14.38% of total net assets | All ratings are subject to change. 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. See MMHBX pricing, performance snapshot, ratings, historical returns, risk considerations, and more. The team employs a proprietary investment process to build better insights for our clients. 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. Because many municipal instruments are issued to finance similar projects, conditions in certain industries can significantly affect the portfolio and the overall municipal market. Morningstar rankings do not take into account sales charges and are based on historical returns, which are not indicative of future results. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed. 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. She co-manages several portfolios and leads a team of analysts focused on investing in US municipal debt. 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. Report of Organizational Actions Affecting Basis of Securities. 04/27/23 Historical MP may not be available for all dates. The yield-to-worst is computed by using the lower of either yield-to-maturity or the yield-to-call on every possible call date. Portfolios that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. Site navigation Fidelity.com Home Customer Service Profile Previously, he worked as a research associate and municipal bond analyst for Columbia Management Group. 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 Despite its mountain location, Grenoble is a low-lying city. Highlights the distinguishing characteristics of MFS municipal bonds. For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Ratings are shown in the S&P and Fitch scale (e.g., AAA). 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. 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. 2023 MFS Investment Management. Without such subsidies and waivers the fund's performance results would be less favorable. 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. Change ($) (since Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Gross assets consist of the total net assets of the fund plus the amounts borrowed to create leverage. You also might decide against this option if you visit the MFS site from work and others have access to your computer. Morningstar Overall Rating As of 02/28/23 Class B Shares. The core principles of our approach are integrated research, global collaboration and active risk management. This site is intended for use by U.S. residents. For purposes of the funds 80% policy, net assets include the amount of any borrowings for investment purposes. Closed-end funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund). He is a member of the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199-7632. 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. (*YTD Updated In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. The interval between the announcement and the payment of the next dividend. Michael L. Dawson is an investment officer and fixed income portfolio manager of state municipal bond strategies at MFS Investment Management (MFS). The portfolio itself has not been rated by any rating agency. Beta is a measure of the volatility of a portfolio relative to the overall market. . Therefore, the portfolio's value may decline during rising rates.
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