MFS Municipal High Income Fund
Name
As of 05/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
4.3%
3 Yr Avg Return
-1.7%
5 Yr Avg Return
0.7%
Net Assets
$4.24 B
Holdings in Top 10
11.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.58%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 17.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MMHKX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return -1.7%
- 5 Yr Annualized Total Return 0.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.01%
- Dividend Yield 4.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMFS Municipal High Income Fund
-
Fund Family NameMFS Funds
-
Inception DateJun 02, 2017
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGeoffrey Schechter
Fund Description
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. Interest from the fund’s investments may be subject to the federal alternative minimum tax.
MFS (Massachusetts Financial Services Company, the fund’s investment adviser) normally invests the fund’s assets primarily in municipal instruments.
MFS may invest 25% or more of the fund’s total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers.
MFS may invest up to 100% of the fund’s assets in below investment grade quality debt instruments.
MFS may invest a significant percentage of the fund’s assets in issuers in a single state, territory, or possession, or a small number of states, territories, or possessions.
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, inverse floating rate instruments, 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.
MMHKX - Performance
Return Ranking - Trailing
Period | MMHKX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -3.7% | 4.8% | 48.54% |
1 Yr | 4.3% | -3.8% | 9.0% | 57.28% |
3 Yr | -1.7%* | -9.7% | 1.8% | 53.73% |
5 Yr | 0.7%* | -4.9% | 524.5% | 63.02% |
10 Yr | N/A* | 0.0% | 155.4% | 43.13% |
* Annualized
Return Ranking - Calendar
Period | MMHKX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.5% | -1.5% | 7.5% | 79.61% |
2022 | -17.1% | -26.9% | -3.5% | 46.80% |
2021 | 2.1% | -1.9% | 5.6% | 51.00% |
2020 | -0.2% | -10.1% | 4.2% | 66.67% |
2019 | 5.6% | 2.0% | 9.1% | 35.94% |
Total Return Ranking - Trailing
Period | MMHKX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -3.7% | 4.8% | 48.54% |
1 Yr | 4.3% | -3.8% | 9.0% | 57.28% |
3 Yr | -1.7%* | -9.7% | 1.8% | 53.73% |
5 Yr | 0.7%* | -4.9% | 524.5% | 63.02% |
10 Yr | N/A* | 0.0% | 155.4% | 39.38% |
* Annualized
Total Return Ranking - Calendar
Period | MMHKX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.6% | 0.4% | 10.9% | 57.28% |
2022 | -13.6% | -26.9% | -2.9% | 43.84% |
2021 | 5.6% | -1.9% | 10.0% | 45.00% |
2020 | 3.3% | -4.1% | 8.2% | 57.07% |
2019 | 8.1% | 3.5% | 1028633.9% | 63.02% |
NAV & Total Return History
MMHKX - Holdings
Concentration Analysis
MMHKX | Category Low | Category High | MMHKX % Rank | |
---|---|---|---|---|
Net Assets | 4.24 B | 9.79 K | 16.1 B | 19.12% |
Number of Holdings | 1732 | 1 | 3076 | 15.76% |
Net Assets in Top 10 | 508 M | -102 M | 3.44 B | 20.69% |
Weighting of Top 10 | 11.83% | 4.7% | 100.7% | 69.80% |
Top 10 Holdings
- MFS Institutional Money Market Portfolio, Class A 3.17%
- Puerto Rico Sales Tax Financing Corp. Sales Tax 2.40%
- Buckeye Tobacco Settlement Financing Authority 1.69%
- New York City Housing Development Corp. 1.07%
- California Community Choice Financing Authority 0.63%
- City of Chicago 0.60%
- New York Transportation Development Corp., Series 2023 0.60%
- New York Liberty Development Corp. 0.57%
- New Hampshire Business Finance Authority, Series 2023A 0.56%
- Golden State Tobacco Securitization Corp. 0.53%
Asset Allocation
Weighting | Return Low | Return High | MMHKX % Rank | |
---|---|---|---|---|
Bonds | 96.00% | 0.00% | 146.69% | 69.42% |
Cash | 4.00% | -0.64% | 100.00% | 21.67% |
Stocks | 0.00% | 0.00% | 99.38% | 76.70% |
Preferred Stocks | 0.00% | -47.61% | 1.64% | 70.44% |
Other | 0.00% | -12.04% | 9.96% | 64.04% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 70.94% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MMHKX % Rank | |
---|---|---|---|---|
Municipal | 96.31% | 0.00% | 100.00% | 80.79% |
Cash & Equivalents | 3.17% | 0.00% | 100.00% | 20.69% |
Corporate | 0.49% | 0.00% | 2.55% | 27.59% |
Derivative | 0.00% | -12.35% | 1.55% | 61.08% |
Securitized | 0.00% | 0.00% | 0.20% | 73.40% |
Government | 0.00% | 0.00% | 0.09% | 72.91% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MMHKX % Rank | |
---|---|---|---|---|
US | 96.00% | 0.00% | 139.84% | 66.01% |
Non US | 0.00% | 0.00% | 13.35% | 75.37% |
MMHKX - Expenses
Operational Fees
MMHKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.58% | 0.21% | 3.44% | 89.60% |
Management Fee | 0.52% | 0.00% | 1.33% | 64.56% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.02% | 0.35% | N/A |
Sales Fees
MMHKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 4.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
MMHKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
MMHKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 17.00% | 2.00% | 121.00% | 40.00% |
MMHKX - Distributions
Dividend Yield Analysis
MMHKX | Category Low | Category High | MMHKX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.30% | 0.00% | 6.14% | 17.48% |
Dividend Distribution Analysis
MMHKX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
MMHKX | Category Low | Category High | MMHKX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.01% | 1.11% | 5.70% | 58.74% |
Capital Gain Distribution Analysis
MMHKX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
May 01, 2024 | $0.026 | OrdinaryDividend |
Apr 01, 2024 | $0.028 | OrdinaryDividend |
Mar 01, 2024 | $0.026 | DailyAccrualFund |
Feb 01, 2024 | $0.028 | DailyAccrualFund |
Dec 29, 2023 | $0.028 | DailyAccrualFund |
Dec 01, 2023 | $0.027 | DailyAccrualFund |
Nov 01, 2023 | $0.027 | DailyAccrualFund |
Oct 02, 2023 | $0.027 | DailyAccrualFund |
Sep 01, 2023 | $0.028 | DailyAccrualFund |
Aug 01, 2023 | $0.028 | DailyAccrualFund |
Jul 03, 2023 | $0.027 | DailyAccrualFund |
Jun 01, 2023 | $0.028 | DailyAccrualFund |
May 01, 2023 | $0.026 | DailyAccrualFund |
Apr 03, 2023 | $0.027 | DailyAccrualFund |
Mar 01, 2023 | $0.023 | DailyAccrualFund |
Feb 01, 2023 | $0.027 | DailyAccrualFund |
Dec 30, 2022 | $0.027 | DailyAccrualFund |
Dec 01, 2022 | $0.026 | DailyAccrualFund |
Nov 01, 2022 | $0.025 | DailyAccrualFund |
Oct 03, 2022 | $0.024 | DailyAccrualFund |
Sep 01, 2022 | $0.026 | DailyAccrualFund |
Aug 01, 2022 | $0.024 | DailyAccrualFund |
Jul 01, 2022 | $0.024 | DailyAccrualFund |
Jun 01, 2022 | $0.026 | DailyAccrualFund |
May 02, 2022 | $0.024 | DailyAccrualFund |
Apr 01, 2022 | $0.024 | DailyAccrualFund |
Mar 01, 2022 | $0.021 | DailyAccrualFund |
Feb 01, 2022 | $0.021 | DailyAccrualFund |
Dec 31, 2021 | $0.021 | DailyAccrualFund |
Dec 01, 2021 | $0.020 | DailyAccrualFund |
Nov 01, 2021 | $0.021 | DailyAccrualFund |
Oct 01, 2021 | $0.021 | DailyAccrualFund |
Sep 01, 2021 | $0.022 | DailyAccrualFund |
Aug 02, 2021 | $0.023 | DailyAccrualFund |
Jul 01, 2021 | $0.022 | DailyAccrualFund |
Jun 01, 2021 | $0.023 | DailyAccrualFund |
May 03, 2021 | $0.022 | DailyAccrualFund |
Apr 01, 2021 | $0.023 | DailyAccrualFund |
Mar 01, 2021 | $0.021 | DailyAccrualFund |
Feb 01, 2021 | $0.024 | DailyAccrualFund |
Dec 31, 2020 | $0.026 | DailyAccrualFund |
Dec 01, 2020 | $0.025 | DailyAccrualFund |
Nov 02, 2020 | $0.026 | DailyAccrualFund |
Oct 01, 2020 | $0.025 | DailyAccrualFund |
Sep 01, 2020 | $0.026 | DailyAccrualFund |
Aug 03, 2020 | $0.027 | DailyAccrualFund |
Jul 01, 2020 | $0.025 | DailyAccrualFund |
Jun 01, 2020 | $0.027 | DailyAccrualFund |
May 01, 2020 | $0.026 | DailyAccrualFund |
Apr 01, 2020 | $0.028 | DailyAccrualFund |
Mar 02, 2020 | $0.024 | DailyAccrualFund |
Feb 03, 2020 | $0.026 | DailyAccrualFund |
Dec 31, 2019 | $0.000 | DailyAccrualFund |
Dec 02, 2019 | $0.000 | DailyAccrualFund |
Nov 01, 2019 | $0.000 | DailyAccrualFund |
Oct 01, 2019 | $0.000 | DailyAccrualFund |
Sep 03, 2019 | $0.000 | DailyAccrualFund |
Aug 01, 2019 | $0.000 | DailyAccrualFund |
Jul 01, 2019 | $0.026 | OrdinaryDividend |
Jun 03, 2019 | $0.028 | DailyAccrualFund |
May 01, 2019 | $0.027 | DailyAccrualFund |
Apr 01, 2019 | $0.029 | DailyAccrualFund |
Mar 01, 2019 | $0.025 | DailyAccrualFund |
Feb 01, 2019 | $0.028 | DailyAccrualFund |
Dec 31, 2018 | $0.028 | DailyAccrualFund |
Dec 03, 2018 | $0.027 | DailyAccrualFund |
Nov 01, 2018 | $0.028 | DailyAccrualFund |
Sep 04, 2018 | $0.029 | DailyAccrualFund |
Aug 01, 2018 | $0.030 | DailyAccrualFund |
Jul 02, 2018 | $0.029 | DailyAccrualFund |
Jun 01, 2018 | $0.031 | DailyAccrualFund |
May 01, 2018 | $0.029 | DailyAccrualFund |
Apr 02, 2018 | $0.029 | DailyAccrualFund |
Mar 01, 2018 | $0.025 | DailyAccrualFund |
Feb 01, 2018 | $0.029 | DailyAccrualFund |
Dec 29, 2017 | $0.029 | DailyAccrualFund |
Dec 01, 2017 | $0.030 | DailyAccrualFund |
Nov 01, 2017 | $0.031 | DailyAccrualFund |
Oct 02, 2017 | $0.030 | DailyAccrualFund |
Sep 01, 2017 | $0.032 | DailyAccrualFund |
Aug 01, 2017 | $0.031 | DailyAccrualFund |
Jul 03, 2017 | $0.030 | DailyAccrualFund |
MMHKX - Fund Manager Analysis
Managers
Geoffrey Schechter
Start Date
Tenure
Tenure Rank
Aug 23, 2002
19.78
19.8%
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. He was named portfolio manager in 1993. Geoff is a graduate of the University of Texas and has an MBA degree from Boston University. 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 team employs a proprietary investment process to build better insights for our clients. The core principles of our approach are integrated research, global collaboration and active risk management.
Gary Lasman
Start Date
Tenure
Tenure Rank
Apr 01, 2006
16.18
16.2%
Gary A. Lasman, CFA, is an Investment Officer of MFS Investment Management and Portfolio Manager of the firm's municipal bond portfolios. He joined MFS in 2002 as a municipal fixed income research analyst. Prior to that, he served an assistant portfolio manager and senior municipal analyst for Liberty Funds Group. Before that, he served as vice president in the municipal group for Thomson Financial Services; and senior account manager for The Industrial Indemnity Financial Corporation. Gary earned a Bachelor of Arts degree from the University of California and a Master of Business Administration degree from the University of Chicago. He is a member of the CFA Institute (formerly the Association for Investment Management and Research); Boston Security Analysts Society, Inc.; Boston Municipal Analysts Forum; and the National Federation of Municipal Analysts.
Jason Kosty
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Mr. Kosty, Investment Officer and Portfolio Manager of MFS Investment Management, has been employed in the investment area of MFS since 2003.
Megan Poplowski
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
Employed in the investment area of MFS since 2015
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.06 | 21.43 | 7.5 | 2.52 |