MFS
®Municipal Bond Strategies
KEEP MORE
OF WHAT YOU EARN
Consider MFS’ tax-advantaged funds
This brochure provides year-end information and must be accompanied by a performance supplement insert.
NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE
Municipal bonds are
a type of debt issued
by state and local
governments to finance
public projects and
services that improve
the communities in
which we live.
An important part of a tax-smart strategy for managing wealth
For good reason,
municipal bonds
have long been popular
investments, particularly with individuals in the higher tax brackets
and income-oriented retirees.
In 2013, millions of individual investors nationwide reported more
than
$68 billion
in tax-exempt interest income.
1However, you do not have to be wealthy or retired for municipal
bonds to be attractive options. Beyond their unique tax benefits,
municipal bonds’ valuable diversification potential and relative
stability may also appeal to investors of all income levels and ages.
MFS
®FIXED-INCOME STRATEGIES
The investments you choose should correspond to your financial needs, goals, and risk tolerance. For assistance in determining your financial situation, please consult an investment professional.
1 Source: Internal Revenue Service, the latest data available
Diversification does not guarantee a profit or protect against a loss.
Municipal bonds are subject to certain risks, including interest rate risk, credit risk, and inflation risk. See the fund’s prospectus for more risk considerations. MFS does not provide legal, tax, or accounting advice. Consult your tax advisor for advice that is applicable to your personal tax situation. Any statement contained in this brochure concerning U.S. tax matters was not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Before making any investment decisions, you should obtain your own independent tax and legal advice based on your particular circumstances.
Past performance is no guarantee of future results.
KEEP MORE OF WHAT YOU EARN WITH
TAX-EXEMPT MUNICIPAL BONDS
page 1
2 Hypothetical examples are for illustrative purposes only and are not intended to represent the future performance of any MFS product.
Individuals who receive Social Security or Railroad Retirement benefits should consult their tax advisor to determine what effect, if any, an investment in municipal bond funds may have on the federal taxation of their benefits.
The primary benefit of municipal bond investing is that you can earn income that is usually exempt from federal taxes. While municipal bonds tend to have lower stated yields than taxable bonds of equal quality and maturity, their favorable tax status can lead to higher after-tax returns and after-tax income. To help determine whether municipal bonds are a good fit, you will want to assess if they allow you to pocket more income than a comparable taxable bond. The higher your tax bracket, the greater the potential after-tax benefit of owning municipal bonds. If you invest in municipal bonds that are issued in your home state, your interest income also may be exempt from state and local income taxes. Please note that some income may be subject to state, federal, and/or alternative minimum tax (AMT). Additionally, capital gains, if any, are subject to a capital gains tax.
Calculate taxable equivalent yields
2One way to make an apples-to-apples comparison of municipal and taxable bonds is to calculate a taxable equivalent yield for a given yield you can earn on a municipal bond. The formula for calculating this amount is:
Taxable equivalent yield = Tax-free yield ÷ (1 – your federal tax bracket)
As an example, a person in the 28% federal tax bracket who is considering a 5% municipal bond would plug in the following numbers.5% ÷ (1.00 – 0.28) = 6.94%
To pocket the same amount of income he or she could earn from a 5% municipal bond, this investor would have to find a comparable taxable bond with a 6.94% yield.
If yields on comparable taxable bonds were not that high, the investor would be better served — that is, realize more income — owning the 5% municipal bond.
Key points
n While municipal bonds tend to have lower yields than taxable bonds of equal quality and maturity, their favorable tax status can lead to higher after-tax returns and income.
n The higher your tax bracket, the greater the potential benefit of owning municipal bonds. n If you invest in municipal
bonds that are issued from your home state, interest also may be exempt from state and local income taxes.
FEDERAL INCOME TAX RATES
TAX-EXEMPT MUNICIPAL BOND YIELDS
2% 3% 4% 5% 6%
TAXABLE BOND EQUIVALENT YIELDS
10% 15% 25% 28% 33% 35% 2.22% 3.33% 4.44% 5.56% 6.67% 2.35% 3.53% 4.71% 5.88% 7.06% 2.67% 4.00% 5.33% 6.67% 8.00% 2.78% 4.17% 5.56% 6.94% 8.33% 2.99% 4.48% 5.97% 7.46% 8.96% 3.08% 4.62% 6.15% 7.69% 9.23%
MUNICIPAL BOND PRICES HAVE BEEN
RELATIVELY MORE STABLE
As part of a diversified portfolio, municipal bonds could help temper the
inherent volatility of stocks and other types of bonds.
While individuals make up the overwhelming majority of the municipal bond investor base, they generally have not been active, aggressive traders in the secondary market (where municipal bonds are bought and sold among investors). Instead, individual investors tend to buy and hold their municipal bonds to maturity.
Because of this low trading volume, municipal bond prices have historically been far less volatile than the prices of equities and other types of fixed-income securities over time.
Past performance is no guarantee of future results.
Relatively low volatility
Annualized standard deviations3 for periods ended 12/31/15
n
Barclays Municipal Bond Indexn
Barclays U.S. High-Yield Corporate Bond Indexn
Barclays 10-Year Treasury Bond Indexn
Standard & Poor’s 500 Stock IndexKey points
n Municipal bonds
historically have had lower price volatility than high-yield bonds, U.S. Treasuries, and stocks. n Diversifying with relatively
stable investments may help provide more risk/ return balance to your overall portfolio. 20 years 10 years 5 years 3.79 6.30 13.00 6.67 4.35 10.47 14.67 7.36 4.20 9.01 15.15 7.33
For 5-, 10-, and 20-year periods as of 12/31/15: the Barclays Municipal Bond Index had average annual total returns of 5.35%, 4.72%, and 5.21%; the Barclays U.S. High-Yield Corporate Bond Index had average annual total returns of 5.04%, 6.96%, and 6.75%; the Barclays 10-Year Treasury Bond Index had average annual total returns of 4.68%, 5.04%, and 5.25%; the Standard & Poor’s 500 Stock Index had average annual total returns of 12.57%, 7.31%, and 8.19%.
The historical performance of the indices is provided to illustrate market trends; it does not represent the performance of any investment product. Index returns do not include any investment-related fees and expenses. It is not possible to invest directly in an index.
3 Standard deviation reflects an investment’s total return volatility over a minimum of 36 monthly returns. The larger a portfolio’s standard deviation, the greater its volatility.
The Barclays Municipal Bond Index measures the municipal bond market. The Barclays U.S. High-Yield Corporate BondIndex measures the high-yield bond market. The Barclays 10-Year Treasury Bond Index measures 10-year Treasury bonds. The Standard & Poor’s 500 Stock Index measures the broad U.S. stock market.
At MFS we believe that there are four key benefits that make mutual funds
the most affordable, sensible, and convenient way for individuals to take
advantage of investment opportunities in the municipal bond market.
Greater access to the market
Professional investment managers know and understand how the $3.6 trillion municipal bond market operates. Using their experience and expertise, these professionals actively conduct extensive credit research and analysis of individual securities, leverage highly efficient trading desks, and have frequent contact with the 55,000 issuers and dealers in the primary and secondary markets.
Better investment selection
Municipal bonds are first issued in the primary market, which is dominated by professional and institutional investors. This makes it difficult for individual investors to compete for the limited supply of the most cost-effective bonds available. The complexities of the secondary market (in which bonds are resold before their maturity dates) and higher transaction costs make investing in municipal bonds a challenge for individual investors.
Broad, cost-effective diversification
For a relatively low minimum initial investment, a municipal bond mutual fund will spread your investment across many different bonds, which may help reduce the risk that one bond’s performance will have a big impact on the rest of your holdings. Trying to create and maintain a comparable, diversified portfolio of municipal bonds would likely be difficult and cost prohibitive for most individual investors.
More income flexibility
Most municipal bond mutual funds pay monthly dividends, while individual bonds typically only pay interest semiannually. Mutual funds also offer automatic dividend reinvestment, a great option for investors who want to take advantage of municipal bonds’ tax benefits but do not need the current income. Reinvested, compounding earnings can help you build wealth for future needs. Please note that bond mutual funds charge management fees and other operating expenses not inherent in individual bonds.
PROFESSIONAL MANAGEMENT
MAKES A DIFFERENCE
“Our municipal bond expertise gives
individual investors access to opportunities
that few would have on their own.”
Michael Roberge, Co-CEO, President and Chief Investment Officer, MFS Investment Management
MFS
®Municipal High
Income Fund
MFS
®Municipal
Income Fund
MFS
®Municipal
Limited
Maturity Fund
MFS
®State municipal
bond mutual funds
4, 5, 6, 9, 10Every MFS state-specific municipal bond fund seeks to provide double tax-free income (income that is exempt from federal and state taxes) for in-state residents. Across the board, we use the same disciplined investment approach to build and manage state-specific funds as we do with our national offerings.
MFS® Alabama Municipal Bond Fund7
MFS® Arkansas Municipal Bond Fund
MFS® California Municipal Bond Fund7
MFS® Georgia Municipal Bond Fund7
MFS® Maryland Municipal Bond Fund7
MFS® Massachusetts Municipal Bond Fund7
MFS® Mississippi Municipal Bond Fund7,8
MFS® New York Municipal Bond Fund7
MFS® North Carolina Municipal Bond Fund
MFS® Pennsylvania Municipal Bond Fund7
MFS® South Carolina Municipal Bond Fund
MFS® Tennessee Municipal Bond Fund
MFS® Virginia Municipal Bond Fund7
MFS® West Virginia Municipal Bond Fund 7,8
The first high-yield
municipal fund An opportunistic national tax-exempt bond fund
A conservative tax-exempt bond fund
Morningstar®
Category: High Yield Muni Morningstar® Category: Muni National Long Morningstar® Category: Muni National Short Inception date:
2/24/84 Inception date: 12/29/86 Inception date: 3/17/92
Summary: Seeks total return with an emphasis on high current income exempt from federal income tax, but also considering capital appreciation.
• first high yield municipal fund
• relies on intense credit research process to identify issuers with improving credit funda-mentals
• constructs portfolio from the bottom up
Summary: Seeks total return with an emphasis on income exempt from federal income tax, but also considering capital appreciation.
• opportunistic national tax-exempt fund focused on investment grade municipal debt • performance sought
from sector/security selection and yield curve analysis
• constructs portfolio from the bottom up
Summary: Seeks total return with an emphasis on income exempt from federal income tax, but also considering capital preservation.
• conservative tax exempt fund with average maturity of five years or less
• performance sought from sector/security selection and yield curve analysis
• research oriented
FUND SYMBOLS FUND SYMBOLS FUND SYMBOLS
Class A MMHYX Class B MMHBX Class C MMHCX Class I MMIIX Class A MFIAX Class B MMIBX Class C MMICX Class I MIMIX Class A MTLFX Class B MTLBX Class C MTLCX Class I MTLIX Risks: 4, 5, 6, 7, 8, 9, 10 Risks: 4, 5, 6, 7, 9, 10 Risks: 4, 5, 6, 7, 9, 10
SEEK A TAX ADVANTAGE WITH MFS
MUNICIPAL BOND FUNDS
National and state municipal bond mutual funds
Give your portfolio a tax-efficient investing advantage with MFS municipal bond funds. We offer a wide array of national and state-specific portfolios that allows you to diversify your assets across bond types, maturities, and issuers.
All funds mentioned may not be available for sale by your financial advisor’s firm.
©2016 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar; (2) may not be copied; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information.
Important risk considerations:
4 The fund may not achieve its objective and/or you could lose money on your investment in the fund. 5 Investments in debt instruments may decline in value as the result 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. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall), therefore the Fund’s share price may decline during rising rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. 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. 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. 6 Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk. 7 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.
8 The fund’s performance could be more volatile than the performance of more diversified funds. 9 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. 10 The fund’s performance could be closely tied to the economic, political, and other conditions in the states and U.S. territories and possessions in which the fund invests and could be more volatile than the performance of more geographically diversified funds.
Please see the prospectus for further information on these and other risk considerations.
Past performance is no guarantee of future results.
MFS HAS AN ESTABLISHED PRESENCE
IN MUNICIPAL BOND INVESTING
Well established.
For nearly four decades, MFS has offered investors a way to invest in professionally managed, well-diversified municipal bond portfolios.
Today, our 3 national and 14 state-specific municipal bond portfolios cover the entire range of maturities available to investors seeking tax-exempt income, added portfolio diversification, and capital preservation.
Experienced.
MFS’ dedicated municipal fixed-income team consists of 8 analysts, 4 portfolio managers, 2 traders, 1 institutional portfolio manager, and 1 research associate. The average industry experience of the portfolio managers is 26 years. We managed more than $10.4 billion in municipal bond portfolio assets as of December 31, 2015.
Research driven.
For its municipal bond portfolios, MFS follows the same disciplined security-selection process that it uses with its stock and other fixed-income portfolios. This highly collaborative, in-depth research process emphasizes fundamental techniques of credit, sector, and individual security analysis. It avoids guessing the direction of interest rates. We believe that this “mistake avoidance” approach to municipal-bond investing is a more dependable way to help limit risk and evaluate performance potential. This process is complemented with an extensive, systematic risk/reward analysis of each individual security by our quantitative team.
1976
MFS was among the first managers to offer a municipal bond mutual fund.
1984
MFS® Municipal High
Income Fund was the first open-end municipal fund of its kind.
1986
MFS® Municipal Income
Trust was the first closed-end, high-yield municipal fund traded on the NYSE.
Rely on your
financial advisor’s
expertise
Work closely with your financial advisor to determine which MFS municipal bond fund may be right for you. He or she is familiar with your specific financial needs, goals, and comfort level for risk and can help you build an appropriate, well-diversified portfolio.
Teamwork
MFS’ municipal
fixed-income team meets daily to share information and insight, and to discuss opportunities for our national and state-specific portfolios.
MFS Fund Distributors, Inc., Boston, MA MFSP-MUNI-BRO-4/16 11929.38
SYMBOLS CLASS A CLASS I
MFS® Municipal High Income Fund MMHYX MMIIX
MFS® Municipal Income Fund MFIAX MIMIX
MFS® Municipal Limited Maturity Fund MTLFX MTLIX MFS® Alabama Municipal Bond Fund MFALX MLALX MFS® Arkansas Municipal Bond Fund MFARX MARLX MFS® California Municipal Bond Fund MCFTX MCAVX
MFS® Georgia Municipal Bond Fund MMGAX MGATX
MFS® Maryland Municipal Bond Fund MFSMX MMDIX MFS® Massachusetts Municipal Bond Fund MFSSX MTALX MFS® Mississippi Municipal Bond Fund MISSX MMSTX MFS® New York Municipal Bond Fund MSNYX MNYLX MFS® North Carolina Municipal Bond Fund MSNCX MNCLX MFS® Pennsylvania Municipal Bond Fund MFPAX MPALX MFS® South Carolina Municipal Bond Fund MFSCX MTSCX MFS® Tennessee Municipal Bond Fund MSTNX MTNLX MFS® Virginia Municipal Bond Fund MSVAX MIVAX MFS® West Virginia Municipal Bond Fund MFWVX MWVIX
WE BELIEVE IN THE POWER OF ACTIVE MANAGEMENT
SMMFS® is a global investment manager committed to skilled active management
as the most powerful way to meet investors’ need for strong returns over the long term. We bring you the value of our insights and expertise through:
• Integrated Research
• Global Collaboration
• Active Risk Management
• Long-Term Conviction
The investments you choose should correspond to your financial needs, goals, and risk tolerance. For assistance in determining your financial situation, please consult an investment professional.
Please note: Not all of the funds listed may be available for sale at a specific broker/dealer firm. Please check with your financial advisor.
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your investment professional or view online at mfs.com. Please read it carefully.
Average annual returns,
without sales charge (%) Average annual returns, with sales charge (%) Expense ratios (%)
Gross Net End DateWaiver
Inception 1 yr. 3 yr. 5 yr. 10 yr. 1 yr. 3 yr. 5 yr. 10 yr.
MFS® Alabama Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 02/01/90 3.75 3.03 5.34 4.32 -0.66 1.55 4.43 3.87 1.09 0.93 07/31/17
MFS® Arkansas Municipal Bond Fund (max. 4.25%) 1, 2, 3, 6, 7 02/03/92 3.36 2.68 4.64 4.11 -1.03 1.20 3.74 3.66 0.90 0.75 07/31/17
MFS® California Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 06/18/85 5.23 4.38 7.34 4.88 0.76 2.88 6.41 4.42 0.87 0.72 07/31/17
MFS® Georgia Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 06/06/88 3.28 2.83 5.30 4.31 -1.11 1.36 4.39 3.85 1.04 0.95 07/31/17
MFS® Maryland Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 10/31/84 3.09 2.40 4.93 3.96 -1.29 0.92 4.02 3.51 0.97 0.83 07/31/17
MFS® Massachusetts Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 04/09/85 3.78 2.89 5.58 4.43 -0.63 1.41 4.67 3.98 0.86 0.86 —
MFS® Mississippi Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 5, 6, 7 08/06/92 3.60 2.92 5.22 4.44 -0.81 1.44 4.31 3.99 0.96 0.81 07/31/17
MFS® Municipal High Income Fund (max. 4.25%) 1, 2, 3, 4, 5, 6, 7 02/24/84 5.73 4.79 8.16 5.22 1.24 3.28 7.22 4.76 0.72 0.69 05/31/16
MFS® Municipal Income Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 09/07/93 4.10 3.46 6.33 4.89 -0.32 1.97 5.41 4.43 0.80 0.75 07/31/16
MFS® Municipal Limited Maturity Fund (max. 2.50%) 1, 2, 3, 4, 6, 7 03/17/92 2.10 1.51 2.70 3.19 -0.46 0.66 2.18 2.93 0.80 0.70 08/31/16
MFS® New York Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 06/06/88 4.05 3.05 5.56 4.39 -0.37 1.57 4.65 3.94 0.88 0.88 —
MFS® North Carolina Municipal Bond Fund (max. 4.25%) 1, 2, 3, 6, 7 10/31/84 3.48 2.57 5.17 4.22 -0.92 1.10 4.26 3.76 0.86 0.86 —
MFS® Pennsylvania Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 02/01/93 4.16 3.15 5.74 4.40 -0.27 1.67 4.83 3.95 0.95 0.80 07/31/17
MFS® South Carolina Municipal Bond Fund (max. 4.25%) 1, 2, 3, 6, 7 10/31/84 3.52 2.47 4.87 3.93 -0.88 0.99 3.96 3.48 0.90 0.84 07/31/17
MFS® Tennessee Municipal Bond Fund (max. 4.25%) 1, 2, 3, 6, 7 08/12/88 3.32 2.31 4.84 4.08 -1.07 0.83 3.93 3.63 0.94 0.88 07/31/17
MFS® Virginia Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 6, 7 10/31/84 3.95 2.90 5.12 4.17 -0.46 1.42 4.21 3.72 0.88 0.82 07/31/17
MFS® West Virginia Municipal Bond Fund (max. 4.25%) 1, 2, 3, 4, 5, 6, 7 10/31/84 3.23 2.55 4.79 3.82 -1.15 1.07 3.88 3.37 0.93 0.87 07/31/17
NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE MFS Fund Distributors, Inc. Boston, MA 11929.38MFSP-MUNIBRO-INS-5/16
FUND INFORMATION, CLASS A, AS OF 3/31/16
Important risk considerations: 1 The fund may not achieve its objective and/or you could lose money on your investment in the fund. 2 Investments in debt instruments may decline in value as the result 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. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall), therefore the Fund’s share price may decline during rising rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. 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. 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. 3 Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk. 4 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. 5 The fund’s performance could be more volatile than the performance of more diversified funds. 6 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. 7 The fund’s performance could be closely tied to the economic, political, and other conditions in the states and U.S. territories and possessions in which the fund invests and could be more volatile than the performance of more geographically diversified funds.
Please see the prospectus for further information on these and other risk considerations.
MFS
®FIXED-INCOME STRATEGIES
Must accompany brochure titled “Keep more of what you earn” as of 3/31/16
Performance supplement
for public use
Performance results reflect any applicable expense subsidies and waivers in effect during the periods shown. Without such subsidies and waivers the fund’s performance results would be less favorable. The performance is as of the date shown; it may not include the fund’s entire investment portfolio and is subject to change. Please see the prospectus and financial statements for complete details. All results are historical and assume the reinvestment of dividends and capital gains.
State Municipal Bond Funds – A small portion of income may be subject to state, federal, and/or alternative minimum tax. Capital gains, if any, are subject to a capital gains tax.
National Municipal Bond Funds – Dividends are generally subject to state and local taxes. For investors subject to the alternative minimum tax, a small portion of dividend
income may be taxable. Capital gains distributions, if any, are taxable.
Gross Expense Ratio is the fund’s total operating expense ratio from the fund’s most recent prospectus. Net Expense Ratio reflects the reduction of expenses from fee waivers and reimbursements. Elimination of these reductions will result in higher expenses and lower performance. These reductions will continue until at least date noted under the “Waiver End Date” column.
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus
containing this and other information, contact your investment professional or view online at mfs.com. Please read it carefully.
Performance data shown represent past performance and are no guarantee of future results. 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. For most recent month-end performance, please visit mfs.com. Other share classes are available for which performance and expenses will differ.
