MEDIX: MFS Emerging Markets Debt I

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MEDIX MFS Emerging Markets Debt I

MEDIX - Profile

Vitals

  • YTD Return 7.2%
  • 3 Yr Annualized Return 4.2%
  • 5 Yr Annualized Return 4.2%
  • Net Assets $5.83 B
  • Holdings in Top 10 10.0%

52 WEEK LOW AND HIGH

$14.63
$13.46
$14.89

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 94.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Emerging Markets Bond

Distributions

  • YTD Total Return 7.2%
  • 3 Yr Annualized Total Return 4.2%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.74%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name MFS Emerging Markets Debt Fund
  • Fund Family Name MFS
  • Inception Date Mar 17, 1998
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Matthew W. Ryan

Fund Description

The MFS Emerging Markets Debt Fund Class I (MEDIX) is an actively managed fund that seeks to provide a high level of current income as well as the potential for capital appreciation. It does this by investing in a variety of emerging-debt securities. The fund primarily invests in sovereign and sovereign government-sponsored agency debt that is U.S dollar-denominated. MEDIX uses fundamental analysis to limit risk while providing high income.

Given its low costs and focus on emerging-market debt, MEDIX makes for a great subcore position in a broader fixed-income portfolio. The fund is managed by MFS Investment Management.

MEDIX - Performance

Return Ranking - Trailing

Period MEDIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.2% 1.2% 10.9% 30.09%
1 Yr 12.5% -1.1% 13.9% 12.96%
3 Yr 4.2%* -3.7% 6.3% 18.68%
5 Yr 4.2%* -7.1% 5.5% 22.67%
10 Yr 5.9%* -4.2% 6.1% 14.71%

* Annualized


Return Ranking - Calendar

Period MEDIX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.4% -15.9% 3.1% 59.05%
2017 4.8% 0.1% 10.4% 56.38%
2016 4.4% -1.2% 9.9% 50.00%
2015 -5.1% -21.1% -0.5% 41.10%
2014 -0.1% -12.6% 7.1% 22.86%

Total Return Ranking - Trailing

Period MEDIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.2% 1.2% 11.0% 34.51%
1 Yr 12.5% -1.1% 13.9% 10.19%
3 Yr 4.2%* -3.7% 6.3% 23.08%
5 Yr 4.2%* -7.1% 5.5% 21.33%
10 Yr 5.9%* -4.2% 6.1% 14.71%

* Annualized


Total Return Ranking - Calendar

Period MEDIX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.4% -15.9% 3.1% 71.43%
2017 4.8% 0.1% 12.8% 64.89%
2016 4.4% -1.2% 15.0% 63.41%
2015 -5.1% -21.1% 7.1% 56.16%
2014 -0.1% -12.6% 7.1% 51.43%

NAV & Total Return History

MEDIX - Holdings

Concentration Analysis

MEDIX Category Low Category High MEDIX % Rank
Net Assets 5.83 B 7.26 M 140 B 16.52%
Number of Holdings 478 4 6089 18.26%
Net Assets in Top 10 391 M 2.33 M 6.72 B 20.87%
Weighting of Top 10 10.00% 4.9% 99.0% 93.91%

Top 10 Holdings

  1. Euro BUND Future Dec19 1.65%

  2. Russian Federation 4.25% 1.12%

  3. Mexico (United Mexican States) 4.15% 1.11%

  4. State Grid Overseas Investment (2016) Limited 3.5% 1.04%

  5. Ust Bond 5yr Future Dec 31 19 0.92%

  6. Russian Federation 5.1% 0.91%

  7. Brazil (Federative Republic) 4.5% 0.90%

  8. Government of Jamaica 8% 0.81%

  9. U.S. Treasury Bond Dec19 0.78%

  10. Mexico (United Mexican States) 4.5% 0.77%


Asset Allocation

Weighting Return Low Return High MEDIX % Rank
Bonds
95.25% 82.20% 117.21% 46.09%
Cash
4.38% -17.59% 17.66% 51.30%
Convertible Bonds
0.25% 0.00% 2.33% 50.43%
Stocks
0.12% 0.00% 0.86% 14.78%
Preferred Stocks
0.00% 0.00% 1.32% 73.04%
Other
0.00% 0.00% 2.51% 79.13%

Stock Sector Breakdown

Weighting Return Low Return High MEDIX % Rank
Energy
0.04% -0.01% 0.19% 39.29%
Utilities
0.00% -0.02% 0.07% 76.79%
Technology
0.00% 0.00% 0.26% 80.36%
Real Estate
0.00% -0.04% 0.27% 76.79%
Industrials
0.00% -0.02% 0.04% 78.57%
Healthcare
0.00% -0.10% 0.00% 76.79%
Financial Services
0.00% 0.00% 0.40% 82.14%
Communication Services
0.00% -0.03% 0.01% 76.79%
Consumer Defense
0.00% -0.05% 0.03% 80.36%
Consumer Cyclical
0.00% 0.00% 0.39% 85.71%
Basic Materials
0.00% -0.03% 0.04% 78.57%

Stock Geographic Breakdown

Weighting Return Low Return High MEDIX % Rank
Non US
0.08% 0.00% 1.86% 14.78%
US
0.04% -1.34% 0.86% 19.13%

Bond Sector Breakdown

Weighting Return Low Return High MEDIX % Rank
Government
62.49% -1.34% 79.76% 55.65%
Corporate
33.37% 10.40% 90.44% 40.00%
Cash & Equivalents
4.37% -17.44% 17.27% 49.57%
Securitized
0.00% 0.00% 14.21% 80.87%
Municipal
0.00% 0.00% 0.22% 74.78%
Derivative
-0.34% -3.66% 13.62% 93.04%

Bond Geographic Breakdown

Weighting Return Low Return High MEDIX % Rank
Non US
91.33% 66.68% 110.85% 42.61%
US
3.92% -13.87% 21.19% 55.65%

MEDIX - Expenses

Operational Fees

MEDIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% 0.07% 124.78% 74.11%
Management Fee 0.68% 0.00% 1.23% 52.17%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.50% N/A

Sales Fees

MEDIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MEDIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Turnover 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.

MEDIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 94.00% 7.00% 436.00% 75.22%

MEDIX - Distributions

Dividend Yield Analysis

MEDIX Category Low Category High MEDIX % Rank
Dividend Yield 1.57% 0.00% 7.22% 71.30%

Dividend Distribution Analysis

MEDIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

MEDIX Category Low Category High MEDIX % Rank
Net Income Ratio 4.74% 0.41% 6.52% 38.39%

Capital Gain Distribution Analysis

MEDIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

MEDIX - Managers

Matthew W. Ryan

Manager

Start Date

Tenure

Tenure Rank

Jul 24, 1998

21.28

21.3%

Matthew W. Ryan, CFA, is an investment officer and a portfolio manager of Massachusetts Financial Services Company. Before joining the firm in 1997, Matt worked for four years as an economist at the International Monetary Fund and for five years as an international economist with the U.S. Department of the Treasury. He was named a portfolio manager at MFS in 1998. He is a graduate of Williams College and earned a master's degree in international economics and foreign policy from Johns Hopkins University. Matt also holds the Chartered Financial Analyst (CFA) designation.


Ward Brown

Manager

Start Date

Tenure

Tenure Rank

Jul 01, 2008

11.34

11.3%

Ward Brown, CFA, Ph.D., is an investment officer and fixed income portfolio manager at MFS Investment Management® (MFS®). He is a member of the Emerging Markets Debt team, and his duties include managing the firm's emerging market debt strategies in addition to conducting macroeconomic research and individual credit analysis. Ward joined MFS in 2005 as a fixed-income research analyst and was named portfolio manager in 2008. Prior to joining MFS, he served as an economist for the International Monetary Fund for eight years. Ward spent four years as a research and teaching assistant for the Financial Markets Group at the London School of Economics and Political Science and later served as a lecturer at the school in the Economics Department. Ward earned his bachelor's degree from McGill University and holds a master's and a doctoral degree in Economics from the London School of Economics and Political Science. He holds the Chartered Financial Analyst designation.


Neeraj Arora

Manager

Start Date

Tenure

Tenure Rank

Sep 01, 2019

0.16

0.2%

Neeraj Arora is an investment officer and fixed income research analyst for MFS Investment Management® (MFS®). He is a member of the portfolio management team for the firm's Strategic Income strategy, responsible for managing the emerging market debt securities within the strategy. He is a member of the firm's emerging market debt team and works closely with MFS' emerging markets debt portfolio management team to identify attractive investment opportunities. Neeraj joined MFS in 2011. He was previously a vice president and research analyst at J.P. Morgan. He added portfolio management responsibilities in 2018. He earned a bachelor's degree from Marquette University and holds a Master's of Business Administration from Georgetown University.


Tenure Analysis

Category Low

0.09

Category High

24.38

Category Average

5.87

Category Mode

3.24