The market value of the holding may differ. Net Expense Ratio: The Net Expense Ratio reflects the reduction of expenses from contractual fee waivers and reimbursements. The MFS MMHBX Municipal High Income Fund summary. As portfolio and market conditions change, the rate of distributions could change. Therefore, the portfolio's value may decline during rising rates. Ratings are shown in the S&P and Fitch scale (e.g., AAA). There are currently no items in this Watchlist. Monthly, Global Recent Activity. The team employs a proprietary investment process to build better insights for our clients. All ratings are subject to change. All ratings are subject to change. See MMHBX pricing, performance snapshot, ratings, historical returns, risk considerations, and more. All results are historical and assume the reinvestment of dividends and capital gains. (Source: Barron's Dictionary of Finance and Investment Terms), Updated Daily As of Please consult your tax advisor for further information. Jason R. Kosty is an investment officer and fixed income portfolio manager of national municipal bond strategies at MFS Investment Management (MFS). Anais Favre is drinking a Betray'Ale by Brasserie Haarddrch. The fund has benefitted from the experience, continuity and stability of the investment team and accessing our integrated global investment platform, Portfolio management-driven approach to risk budgeting; quantitative tools help analyze market risk; and, an experienced analyst team focuses on idiosyncratic risk, Risk-aware approach with a focus on consistent long-term outperformance. Standard Deviation is an indicator of the portfolio's total return volatility, which is based on a minimum of 36 monthly returns. Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. Jason earned a Bachelor of Arts degree in economics from the University of Massachusetts and a Master of Business Administration degree from Duke University. M). The SEC yield is higher than the distribution yield in part due to unusual market conditions. The elimination of the charge begins six years after the end of the month in which shares were initially purchased. MMHYX - MFS Municipal High Income A - Review the MMHYX stock price, growth, performance, sustainability and more to help you make the best investments. Visit Place St. Andr, the heart of the city's historic quarter. Full Holdings available approximately 25 days after month end. Without such subsidies and waivers the fund's performance results would be less favorable. 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. She is a member of the National Federation of Municipal Analysts and its Boston chapter. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. SCHLOUK is drinking a Beli'Ale by Brasserie Haarddrch. To receive the distribution, an investor must be a shareholder of record on that date. Login PRODUCTS & STRATEGIES It uses a standard deviation and excess return. ($ 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. Please make the necessary corrections below: Access your MFS mutual fund, IRA, 529 savings plan accounts, quarterly statements, and sign up for eDelivery. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. Past performance is no guarantee of future results. 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. 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. Privacy Notice | If you are not a U.S. resident, please visitOther MFS Sites. Ratings are shown in the S&P and Fitch scale (e.g., AAA). He began his career in the financial services industry in 1995. An investor must own the fund before the ex-dividend date to be eligible for the dividend payout. All quotes are in local exchange time. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. 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. The core principles of our approach are integrated research, global collaboration and active risk management. Intraday Data provided by FACTSET and subject to terms of use. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). 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. For tax purposes the profit realized from the sale of securities or other capital assets held for less than 12 months. Log in to see them here or sign up to get started. Have Watchlists? Michael earned a Bachelor of Science degree in political science from Santa Clara University and a Master of Business Administration degree in finance from Babson College. 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. 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. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. Bond:Investments in debt instruments may decline in value as the result of, or perception of, declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. For the best MarketWatch.com experience, please update to a modern browser. For all securities other than those described below, ratings are assigned utilizing ratings from Moodys, Fitch, and Standard & Poors and applying the following hierarchy: If all three agencies provide a rating, the consensus rating is assigned if applicable or the middle rating if not; if two of the three agencies rate a security, the lower of the two is assigned. Find an overview of how mutual funds are taxed, details about the tax forms you receive from MFS, and instructions for using this information to complete your tax return. U.S. Government includes securities issued by the U.S. Department of the Treasury. In this role, he is responsible for final buy and sell decisions, portfolio construction and risk and cash management. Dividend Reinvestment at NAV is the automatic reinvestment of shareholder dividends in more shares at net asset value. 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. 03/31/23. Therefore, the portfolio's value may decline during rising rates. Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Information ratio is a measure of consistency in excess return. Long-term Capital Gain Gary A. Lasman, CFA, is an Investment Officer of MFS Investment Management and Portfolio Manager of the firm's municipal bond portfolios. Shares of closed-end funds frequently trade at a discount or premium to their net asset value. M). R squared is not a measure of performance. As of The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available onlinehere or by contacting MFS. She co-manages several portfolios and leads a team of analysts focused on investing in US municipal debt. The portfolio itself has not been rated by any rating agency. Flyer showing MFS' annual rankings from Barron's since 2008. Closed-end funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund). 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. Actual after-tax returns depend on your tax situation and are not relevant if you hold shares through tax-deferred arrangements such as IRAs or 401 (k) plans. You also might decide against this option if you visit the MFS site from work and others have access to your computer. The team employs a proprietary investment process to build better insights for our clients. 900, 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, Explore resources to help educate on investing basics. Receive email updates about best performers, news, CE accredited webcasts and more. 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. Fact Sheets are available approximately 15 days after month end. Closed-End Fund . 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. The fund may not achieve its objective and/or you could lose money on your investment in the fund. The portfolio itself has not been rated by any rating agency. Change ($) (since Without such subsidies and waivers the fund's performance results would be less favorable. The team employs a proprietary investment process to build better insights for our clients. 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. In structuring the fund, MFS also considers top-down factors. The information provided on this page should be read in conjunction with the fund's prospectus or summary prospectus for the portfolio being offered, which are available onlinehere or by contacting MFS. The higher the Sharpe Ratio, the better the portfolio's historical risk-adjusted performance. Lyon is France's third-largest city and a major tourist destination. It measures the amount of excess return over the risk free rate earned per unit of systematic risk (beta) assumed. Performance data shown represents past performance and is no guarantee of future results. Historical MP may not be available for all dates. MFS Municipal High Income Fund Class I. This site is intended for use by U.S. residents. The interval between the announcement and the payment of the next dividend. Longer-maturity funds are generally considered more interest-rate sensitive than shorter maturity funds. 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. 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. Before that, he was a research analyst in the municipal bond group at Franklin Templeton. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199-7632. Capital gains distributions, if any, are taxable. Your use of this website indicates that you agree with the intended purpose. Downside capture ratio is calculated by taking the portfolio's return during the periods of negative benchmark performance and dividing it by the benchmark return for that period. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. The fund's overall Morningstar Rating measures are based on risk-adjusted returns as of 02/28/23. A variety of materials to help you prepare and file your taxes, including frequently asked questions, glossary of tax terms, tax preparation check list, phone numbers and contact information, instructions for ordering duplicate tax forms, and links to helpful Web sites. He joined MFS in 2002 as a municipal fixed income research analyst. He was named portfolio manager in 1993. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. Excess returns are a portfolio's return minus the benchmark's annualized return. These reductions will continue until at least05/31/24. Megan earned a Bachelor of Arts degree from Holy Cross College and a Master of Public Administration degree from New York University. View Overall Morningstar Ratings Information. Closed-end funds are only available for purchase/sale on the NYSE at the current market price (NYSE American for MFS California Municipal Fund). 03/31/23, 8.53% of total net assets | Seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. MFS may invest 25% or more of the funds total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers. 2023 MFS Investment Management. If you are working in a public space, such as a library, you would not want to select this option. If you are working in a public space, such as a library, you would not want to select this option. Excess returns are a portfolio's return minus the benchmark's annualized return. Other Not Rated includes other fixed income securities not rated by any rating agency. This browser is no longer supported at MarketWatch. Compares four national municipal funds across the credit quality and maturity spectrum to help make the selection process easier. 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. 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. Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. Historical MP may not be available for all dates. 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. Which type of investor describes you best? As of 04/30/23 , subject to revision and not annualized.). Daily, Cookie Notice (). (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain An investor must own the fund before the ex-dividend date to be eligible for the dividend payout. Investment return and principal value fluctuate so your shares, when sold, may be worth more or less than the original cost; current performance may be lower or higher than quoted. 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. Performance data shown represents past performance and is no guarantee of future results. US Inflation Persists, Growth Revised Down, As of Visit a quote page and your recently viewed tickers will be displayed here. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. MFS registered investment products are offered through MFS Fund Distributors, Inc., 111 Huntington Avenue, Boston, MA 02199. Close tooltip. 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. This website is a general communication and is provided for informational and/or educational purposes only. This version includes Municipal Intermediate Fund. The Fund seeks total return with an emphasis on high income exempt from federal income tax, but also considering capital appreciation. 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. Highlights the distinguishing characteristics of MFS municipal bonds. 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. Portfolio characteristic data are based on unaudited net assets. (Source: Barron's Dictionary of Finance and Investment Terms), Short-term Capital Gain MFS has been investing in municipal bonds since 1984. Dividend Rate per Share is the amount of dividend that a shareholder will receive for each share held. -6.84%. Daily, Short-term gains are taxable at ordinary income rates to the extent they are not reduced by offsetting capital losses. All results are historical and assume the reinvestment of dividends and capital gains. Copyright 2023 MarketWatch, Inc. All rights reserved. Historical NAV may not be available for all dates. Megan Poplowski is an investment officer, fixed income portfolio manager and director of municipal research with MFS Investment Management (MFS). Subscriber Agreement & Terms of Use | View Overall Morningstar Ratings Information. She began her career in municipal finance at the New York City budget office. 05/01/23. If you check this box, anyone using the computer you are working from now will be able to enter your mfs.com homepage without having to know or enter your user name and password. . Net Assets 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. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations. Consider the fund's investment objectives, risks, charges, and expenses, and otherwise read these documents carefully before you invest. The fund has benefitted from the experience, continuity and stability of the investment team and accessing our integrated global investment platform, Portfolio management-driven approach to risk budgeting; quantitative tools help analyze market risk; and, an experienced analyst team focuses on idiosyncratic risk, Risk-aware approach with a focus on consistent long-term outperformance. 05/01/23. ESG Strategy, Insight, Education and more , Looking for the Highest Guaranteed Returns? Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. The fund employs leverage which has been created through the issuance of variable rate municipal term preferred shares [or borrowing]. 03/31/23, Explore resources to help educate on investing basics. Previously, he worked as a research associate and municipal bond analyst for Columbia Management Group. MMHCX - MFS Municipal High Income Fund Class C | Fidelity Investments Skip to Main Content. The Fund invests, under normal market conditions, at least 80 . Performance data shown represents past performance and is no guarantee of future results. The Payable Date is the date on which the distribution is paid to shareholders. Portfolio information is subject to change due to active management. There are currently no items in this Watchlist. It can be calculated by taking the total amount of dividends paid and dividing it by the total shares outstanding. It is the ratio of the annualized excess return of the portfolio over the risk free rate for a given period divided by the Beta of the portfolio versus its benchmark for the same period. 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. The fund may at . Previously, he worked as a research associate and municipal bond analyst for Columbia Management Group. Regardless of what computer you are using, NOT clicking the box is the more secure choice for you to make. If none of the 4 rating agencies listed above rate the security, but the security is rated by the Kroll Bond Rating Agency (KBRA), then the KBRA rating is assigned.