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MFS Commodity Strategy Fund

mutual fund
MCSTX
Payout Change
Pending
Price as of:
$3.61 +0.0 +0.0%
primary theme
Commodity
MCSTX (Mutual Fund)

MFS Commodity Strategy Fund

Payout Change
Pending
Price as of:
$3.61 +0.0 +0.0%
primary theme
Commodity
MCSTX (Mutual Fund)

MFS Commodity Strategy Fund

Payout Change
Pending
Price as of:
$3.61 +0.0 +0.0%
primary theme
Commodity

Name

As of 12/06/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$3.61

$878 M

2.14%

$0.08

0.90%

Vitals

YTD Return

3.7%

1 yr return

5.4%

3 Yr Avg Return

4.1%

5 Yr Avg Return

7.7%

Net Assets

$878 M

Holdings in Top 10

46.3%

52 WEEK LOW AND HIGH

$3.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.90%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 28.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/06/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$3.61

$878 M

2.14%

$0.08

0.90%

MCSTX - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 7.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.37%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    MFS Commodity Strategy Fund
  • Fund Family Name
    MFS Funds
  • Inception Date
    Aug 15, 2018
  • Shares Outstanding
    N/A
  • Share Class
    R4
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Benjamin Nastou

Fund Description

MFS (Massachusetts Financial Services Company, the fund's investment adviser) seeks to achieve the fund’s objective by providing exposure to the commodities markets through investing in commodity-linked derivatives rather than investing directly in commodities. Commodities are assets with tangible properties, including oil, natural gas, agricultural products, and industrial and other precious metals.

MFS expects to gain exposure to the commodities markets by investing in MFS Commodity Strategy Portfolio, a wholly-owned and controlled subsidiary organized in the Cayman Islands. MFS Commodity Strategy Portfolio is advised by MFS and has the same objective, strategies, and restrictions as the fund, except that MFS gains exposure to the commodities markets for MFS Commodity Strategy Portfolio by investing directly in commodity-linked futures, options, and/or swaps. MFS may invest up to 25% of the fund's assets (at the time of purchase) in MFS Commodity Strategy Portfolio.

MFS Commodity Strategy Portfolio's investments in commodity-linked derivatives are leveraged (i.e., involves investment exposure greater than the amount of the investment). MFS expects the fund's exposure to the commodities markets to be approximately equivalent to investing all of the fund's investments in commodity-linked derivatives on an unleveraged basis.

MFS allocates MFS Commodity Strategy Portfolio’s investments in commodity-linked derivatives primarily based on proprietary quantitative models. MFS may also consider current market conditions, its qualitative assessment of the risk/return characteristics of commodities and commodity sectors, and other factors in structuring MFS Commodity Strategy Portfolio's portfolio.

MFS normally allocates the MFS Commodity Strategy Portfolio's commodity exposure across different commodities and commodity sectors, but MFS may expose a significant percentage of the MFS Commodity Strategy Portfolio's assets to a particular commodity or commodity sector or a limited number of commodities or commodity sectors.

MFS generally invests substantially all of the fund's assets not invested in MFS Commodity Strategy Portfolio in U.S. and foreign debt instruments. In addition, MFS Commodity Strategy Portfolio may also invest in U.S. and foreign debt instruments. Debt instruments include corporate bonds, U.S. Government securities, foreign government securities, securitized instruments (including mortgage-backed securities and other asset-backed securities), and other obligations to repay money borrowed. Of the fund’s direct and indirect investments in debt instruments, MFS generally invests substantially all of these investments in investment grade quality debt instruments.

MFS normally invests the fund's direct and indirect investments in debt instruments across different countries and regions, but MFS may invest a significant percentage of the fund's assets in issuers in a single country or region.

In addition to the commodity-linked derivatives used by MFS Commodity Strategy Portfolio as described above, MFS may use other types of derivatives for any investment purpose in managing the fund and/or MFS Commodity Strategy Portfolio. 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, and swaps.

Some portion of the fund's and MFS Commodity Strategy Portfolio's assets may be held in cash and/or debt instruments due to collateral requirements for the fund's and MFS Commodity Strategy Portfolio's investments in derivatives.

MFS uses an active bottom-up investment approach to buying and selling debt investments for the fund. Debt investments are selected primarily based on fundamental analysis of individual instruments and their issuers. Quantitative screening tools that systematically evaluate debt instruments may also be considered.

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MCSTX - Performance

Return Ranking - Trailing

Period MCSTX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -32.1% 33.4% 61.42%
1 Yr 5.4% -31.4% 37.8% 62.20%
3 Yr 4.1%* -35.3% 280.8% 58.40%
5 Yr 7.7%* -27.7% 132.8% 52.46%
10 Yr N/A* -26.6% 47.9% 31.06%

* Annualized

Return Ranking - Calendar

Period MCSTX Return Category Return Low Category Return High Rank in Category (%)
2023 -8.2% -64.0% 30.1% 50.39%
2022 -11.4% -40.8% 2475.6% 72.22%
2021 -18.8% -23.3% 106.7% 94.40%
2020 -1.1% -71.9% 295.5% 50.82%
2019 5.8% -31.8% 53.9% 57.02%

Total Return Ranking - Trailing

Period MCSTX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -32.1% 33.4% 61.42%
1 Yr 5.4% -31.4% 37.8% 62.20%
3 Yr 4.1%* -35.3% 280.8% 58.40%
5 Yr 7.7%* -27.7% 132.8% 52.46%
10 Yr N/A* -26.6% 47.9% 28.79%

* Annualized

Total Return Ranking - Calendar

Period MCSTX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.1% -64.0% 41.1% 51.18%
2022 13.3% -15.1% 5648.8% 50.00%
2021 28.0% -23.3% 188.1% 57.60%
2020 -0.2% -67.8% 296.1% 52.46%
2019 7.8% -31.8% 53.9% 58.68%

NAV & Total Return History


MCSTX - Holdings

Concentration Analysis

MCSTX Category Low Category High MCSTX % Rank
Net Assets 878 M 2.34 M 27.6 B 28.85%
Number of Holdings 372 1 968 12.60%
Net Assets in Top 10 394 M 2.66 M 30.7 B 53.54%
Weighting of Top 10 46.30% 20.9% 172.5% 83.74%

Top 10 Holdings

  1. MFS Institutional Money Market Portfolio 9.89%
  2. U.S. Treasury Notes 9.00%
  3. U.S. Treasury Notes 6.80%
  4. Federal Home Loan Bank Discount Notes 4.18%
  5. U.S. Treasury Notes 3.60%
  6. U.S. Treasury Notes 3.50%
  7. U.S. Treasury Notes 3.02%
  8. U.S. Treasury Notes 2.69%
  9. U.S. Treasury Notes 2.04%
  10. U.S. Treasury Notes 1.57%

Asset Allocation

Weighting Return Low Return High MCSTX % Rank
Bonds
78.33% 0.00% 109.63% 16.54%
Cash
21.96% 0.00% 100.00% 48.00%
Convertible Bonds
1.66% 0.00% 3.89% 4.03%
Stocks
0.00% 0.00% 57.05% 30.71%
Preferred Stocks
0.00% 0.00% 0.11% 12.00%
Other
-0.30% -7.17% 100.03% 71.20%

Bond Sector Breakdown

Weighting Return Low Return High MCSTX % Rank
Corporate
34.67% 0.00% 42.72% 2.68%
Cash & Equivalents
14.07% 0.00% 100.00% 55.75%
Government
13.29% 0.00% 100.00% 59.82%
Securitized
12.73% 0.00% 19.62% 8.93%
Municipal
1.45% 0.00% 1.45% 0.89%
Derivative
-3.64% -7.17% 100.03% 87.61%

Bond Geographic Breakdown

Weighting Return Low Return High MCSTX % Rank
US
78.33% 0.00% 95.25% 16.80%
Non US
0.00% 0.00% 14.38% 16.00%

MCSTX - Expenses

Operational Fees

MCSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.90% 0.21% 5.23% 62.63%
Management Fee 0.75% 0.00% 1.75% 58.33%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.45% N/A

Sales Fees

MCSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MCSTX 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.

MCSTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 0.00% 162.00% 52.87%

MCSTX - Distributions

Dividend Yield Analysis

MCSTX Category Low Category High MCSTX % Rank
Dividend Yield 2.14% 0.00% 19.94% 46.79%

Dividend Distribution Analysis

MCSTX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Annually Annually

Net Income Ratio Analysis

MCSTX Category Low Category High MCSTX % Rank
Net Income Ratio 0.37% -55.71% 52.26% 23.39%

Capital Gain Distribution Analysis

MCSTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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MCSTX - Fund Manager Analysis

Managers

Benjamin Nastou


Start Date

Tenure

Tenure Rank

Jun 02, 2010

12.0

12.0%

Benjamin R. Nastou, CFA, is an investment officer, portfolio manager and quantitative research analyst at MFS Investment Management® (MFS®). He is a member of the portfolio management teams of the firm's commodity and global multi-asset strategies. Ben joined MFS in 2001 as a fixed income research associate and was promoted to quantitative research analyst in 2003. He was named portfolio manager in 2010. Ben has a bachelor's degree from Dartmouth College. He is a member of the Boston Security Analysts Society, Inc., and holds the Chartered Financial Analyst designation from the CFA Institute.

Natalie Shapiro


Start Date

Tenure

Tenure Rank

Jun 02, 2010

12.0

12.0%

Natalie I. Shapiro, Ph.D. is an Investment Officer, Portfolio Manager and Quantitative Fixed Income Research Analyst at MFS Investment Management® (MFS®). Prior to joining MFS in 1997, Natalie served as a research associate for the Federal Reserve Bank of Boston. Natalie has earned a bachelor's degree from Wellesley College and a doctorate from the University of Pennsylvania.

Alexander Mackey


Start Date

Tenure

Tenure Rank

Feb 01, 2017

5.33

5.3%

Alexander M. Mackey, CFA, is an investment officer and fixed income portfolio manager with MFS Investment Management(r) (MFS(r)). He has portfolio management responsibilities on the firm's limited duration and multi-sector fixed income strategies. He also has research analyst responsibilities. Alexander joined MFS in 1998 as a financial control assistant and was promoted to section manager in 2000. He joined the Fixed Income Department as a research associate in 2001 was promoted to fixed income research analyst in 2004. He took on portfolio management responsibilities in 2017. Alexander has a bachelor's degree from Trinity College and holds the Chartered Financial Analyst (CFA) designation. He is a member of the CFA Society of Boston.

Philipp Burgener


Start Date

Tenure

Tenure Rank

Jan 01, 2019

3.41

3.4%

Philipp S. Burgener, CFA, is an investment officer and fixed income portfolio manager with MFS Investment Management(r) (MFS(r)). He is a member of the firm's limited duration portfolio management team. He also has research analyst responsibilities. Philipp joined MFS in 2000 as an inside wholesaler and transferred to the Fixed Income Department in 2002 as an analytic support associate in the Quantitative Group. In 2003 he joined the Structured Products Group and was promoted to an Investment Grade Research Analyst in 2005. He took on portfolio management responsibilities in 2017. Philipp earned a Bachelor of Arts degree from Colgate University and his Master of Science degree from Boston University. He is also a member of the CFA Institute and Boston Security Analysts Society, Inc.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 6.2 11.51