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MFS Virginia Municipal Bond Fund
mutual fund
MBVAX
Payout Change
Pending
Price as of:
$10.44
-0.01
-0.1%
primary theme
Municipal Bond
share class
MBVAX (Mutual Fund)
MFS Virginia Municipal Bond Fund
Payout Change
Pending
Price as of:
$10.44
-0.01
-0.1%
primary theme
Municipal Bond
share class
MBVAX (Mutual Fund)
MFS Virginia Municipal Bond Fund
Payout Change
Pending
Price as of:
$10.44
-0.01
-0.1%
primary theme
Municipal Bond
share class
Name
As of 12/11/2024Price
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
Vitals
YTD Return
2.7%
1 yr return
4.7%
3 Yr Avg Return
-1.1%
5 Yr Avg Return
0.1%
Net Assets
$357 M
Holdings in Top 10
13.1%
52 WEEK LOW AND HIGH
$10.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.63%
SALES FEES
Front Load N/A
Deferred Load 4.00%
TRADING FEES
Turnover 23.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
MBVAX - Profile
Distributions
- YTD Total Return 2.7%
- 3 Yr Annualized Total Return -1.1%
- 5 Yr Annualized Total Return 0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.39%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMFS Virginia Municipal Bond Fund
-
Fund Family NameMFS Funds
-
Inception DateNov 16, 1995
-
Shares OutstandingN/A
-
Share ClassB
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Dawson
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 and personal income tax, if any, of Virginia. 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) may also invest the fund's assets in taxable instruments, including municipal instruments of other states.
MFS normally invests the fund’s assets primarily in municipal instruments.
MFS invests a significant percentage of the fund’s assets in municipal instruments of Virginia.
MFS may invest a significant percentage of the fund’s assets in a single issuer or a small number of issuers.
MFS may invest 25% or more of the fund’s assets in municipal instruments that finance similar types of projects, such as those relating to education, healthcare, housing, utilities, water or sewers. Municipal instruments whose interest is exempt from federal and state personal income tax include instruments issued by U.S. territories and possessions (such as Puerto Rico, Guam, and the U.S. Virgin Islands) and their political subdivisions and public corporations.
MFS primarily invests the fund’s assets in investment grade quality debt instruments, but may also invest in below investment grade quality debt instruments.
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.
MBVAX - Performance
Return Ranking - Trailing
| Period | MBVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -4.5% | 38.3% | 69.78% |
| 1 Yr | 4.7% | -2.5% | 44.5% | 43.45% |
| 3 Yr | -1.1%* | -10.2% | 5.8% | 83.74% |
| 5 Yr | 0.1%* | -6.5% | 1104.9% | 87.10% |
| 10 Yr | 1.1%* | -0.9% | 249.0% | 77.24% |
* Annualized
Return Ranking - Calendar
| Period | MBVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.8% | -1.4% | 41.0% | 50.24% |
| 2022 | -11.9% | -39.7% | 0.3% | 53.92% |
| 2021 | -0.3% | -5.6% | 6.9% | 44.54% |
| 2020 | 1.6% | -2.6% | 310.0% | 55.11% |
| 2019 | 3.8% | 0.0% | 26.0% | 50.47% |
Total Return Ranking - Trailing
| Period | MBVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -4.5% | 38.3% | 69.78% |
| 1 Yr | 4.7% | -2.5% | 44.5% | 43.45% |
| 3 Yr | -1.1%* | -10.2% | 5.8% | 83.74% |
| 5 Yr | 0.1%* | -6.5% | 1104.9% | 87.10% |
| 10 Yr | 1.1%* | -0.9% | 249.0% | 77.24% |
* Annualized
Total Return Ranking - Calendar
| Period | MBVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.2% | -1.3% | 41.0% | 63.91% |
| 2022 | -10.4% | -39.7% | 1.1% | 64.64% |
| 2021 | 1.2% | -4.8% | 23761504.0% | 59.04% |
| 2020 | 3.3% | -1.5% | 17057.9% | 66.88% |
| 2019 | 5.2% | 0.2% | 3514.6% | 78.55% |
NAV & Total Return History
MBVAX - Holdings
Concentration Analysis
| MBVAX | Category Low | Category High | MBVAX % Rank | |
|---|---|---|---|---|
| Net Assets | 357 M | 3.22 M | 71.9 B | 55.85% |
| Number of Holdings | 254 | 4 | 13418 | 46.68% |
| Net Assets in Top 10 | 46.7 M | -317 M | 3.09 B | 68.70% |
| Weighting of Top 10 | 13.07% | 1.8% | 100.3% | 70.30% |
Top 10 Holdings
- Puerto Rico Sales Tax Financing Corp. Sales Tax 2.13%
- Washington Metropolitan Area Transit Authority Dedicated 1.50%
- Virginia College Building Authority 1.27%
- Isle Wight County Industrial Development Authority, Series 2023 1.24%
- Virginia Housing Development Authority, Series 2023 F 1.19%
- Richmond Redevelopment Housing Authority, Series MTEMS 2024 1.16%
- Virginia Housing Development Authority, Series 2023 D 1.15%
- Arlington County Industrial Development Authority 1.15%
- Louisa Industrial Development Authority 1.15%
- Metropolitan Washington Airports Authority Dulles Toll Road 1.14%
Asset Allocation
| Weighting | Return Low | Return High | MBVAX % Rank | |
|---|---|---|---|---|
| Bonds | 97.65% | 0.00% | 150.86% | 73.69% |
| Cash | 2.35% | -50.86% | 44.62% | 27.00% |
| Stocks | 0.00% | 0.00% | 99.78% | 42.55% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 33.65% |
| Other | 0.00% | -3.69% | 53.54% | 41.57% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 33.24% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MBVAX % Rank | |
|---|---|---|---|---|
| Municipal | 93.32% | 44.39% | 100.00% | 87.53% |
| Cash & Equivalents | 0.84% | 0.00% | 44.41% | 35.86% |
| Corporate | 0.21% | 0.00% | 9.41% | 10.86% |
| Derivative | 0.00% | -3.69% | 53.54% | 39.96% |
| Securitized | 0.00% | 0.00% | 5.93% | 34.32% |
| Government | 0.00% | 0.00% | 52.02% | 37.56% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MBVAX % Rank | |
|---|---|---|---|---|
| US | 97.65% | 0.00% | 142.23% | 71.12% |
| Non US | 0.00% | 0.00% | 23.89% | 37.88% |
MBVAX - Expenses
Operational Fees
| MBVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.63% | 0.01% | 8.02% | 8.27% |
| Management Fee | 0.45% | 0.00% | 1.20% | 56.98% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 88.03% |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| MBVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | 4.00% | 0.25% | 5.00% | 3.15% |
Trading Fees
| MBVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
| MBVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 23.00% | 0.00% | 283.00% | 67.20% |
MBVAX - Distributions
Dividend Yield Analysis
| MBVAX | Category Low | Category High | MBVAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.34% | 0.00% | 14.51% | 81.88% |
Dividend Distribution Analysis
| MBVAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MBVAX | Category Low | Category High | MBVAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.39% | -0.53% | 5.33% | 76.00% |
Capital Gain Distribution Analysis
| MBVAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.020 | OrdinaryDividend |
| Oct 31, 2024 | $0.021 | OrdinaryDividend |
| Sep 30, 2024 | $0.019 | OrdinaryDividend |
| Aug 30, 2024 | $0.019 | OrdinaryDividend |
| Jul 31, 2024 | $0.020 | OrdinaryDividend |
| Apr 30, 2024 | $0.018 | OrdinaryDividend |
| Mar 28, 2024 | $0.019 | OrdinaryDividend |
| Mar 01, 2024 | $0.018 | OrdinaryDividend |
| Feb 01, 2024 | $0.020 | OrdinaryDividend |
| Dec 28, 2023 | $0.020 | OrdinaryDividend |
| Nov 30, 2023 | $0.019 | OrdinaryDividend |
| Oct 31, 2023 | $0.019 | OrdinaryDividend |
| Sep 29, 2023 | $0.018 | OrdinaryDividend |
| Aug 31, 2023 | $0.018 | OrdinaryDividend |
| Jul 31, 2023 | $0.018 | OrdinaryDividend |
| Jun 30, 2023 | $0.017 | OrdinaryDividend |
| May 31, 2023 | $0.018 | OrdinaryDividend |
| Apr 28, 2023 | $0.019 | OrdinaryDividend |
| Mar 31, 2023 | $0.019 | OrdinaryDividend |
| Feb 28, 2023 | $0.016 | OrdinaryDividend |
| Jan 31, 2023 | $0.016 | OrdinaryDividend |
| Dec 30, 2022 | $0.015 | OrdinaryDividend |
| Nov 30, 2022 | $0.014 | OrdinaryDividend |
| Oct 31, 2022 | $0.017 | OrdinaryDividend |
| Sep 30, 2022 | $0.016 | OrdinaryDividend |
| Aug 31, 2022 | $0.016 | OrdinaryDividend |
| Jul 29, 2022 | $0.015 | OrdinaryDividend |
| Jun 30, 2022 | $0.014 | OrdinaryDividend |
| May 31, 2022 | $0.016 | OrdinaryDividend |
| Apr 29, 2022 | $0.014 | OrdinaryDividend |
| Mar 31, 2022 | $0.012 | OrdinaryDividend |
| Feb 28, 2022 | $0.011 | OrdinaryDividend |
| Jan 31, 2022 | $0.012 | OrdinaryDividend |
| Dec 31, 2021 | $0.012 | OrdinaryDividend |
| Nov 30, 2021 | $0.012 | OrdinaryDividend |
| Oct 29, 2021 | $0.012 | OrdinaryDividend |
| Sep 30, 2021 | $0.012 | OrdinaryDividend |
| Aug 31, 2021 | $0.012 | OrdinaryDividend |
| Jul 30, 2021 | $0.013 | OrdinaryDividend |
| Jun 30, 2021 | $0.013 | OrdinaryDividend |
| May 28, 2021 | $0.014 | OrdinaryDividend |
| Apr 30, 2021 | $0.014 | OrdinaryDividend |
| Mar 31, 2021 | $0.015 | OrdinaryDividend |
| Feb 26, 2021 | $0.014 | OrdinaryDividend |
| Jan 29, 2021 | $0.017 | OrdinaryDividend |
| Dec 31, 2020 | $0.017 | OrdinaryDividend |
| Nov 30, 2020 | $0.017 | OrdinaryDividend |
| Oct 30, 2020 | $0.018 | OrdinaryDividend |
| Sep 30, 2020 | $0.018 | OrdinaryDividend |
| Aug 31, 2020 | $0.021 | OrdinaryDividend |
| Jul 31, 2020 | $0.020 | OrdinaryDividend |
| Jun 30, 2020 | $0.020 | OrdinaryDividend |
| May 29, 2020 | $0.020 | OrdinaryDividend |
| Apr 30, 2020 | $0.019 | OrdinaryDividend |
| Jan 31, 2020 | $0.018 | OrdinaryDividend |
| Dec 31, 2019 | $0.000 | OrdinaryDividend |
| Nov 29, 2019 | $0.001 | OrdinaryDividend |
| Oct 31, 2019 | $0.001 | OrdinaryDividend |
| Sep 30, 2019 | $0.001 | OrdinaryDividend |
| Aug 30, 2019 | $0.001 | OrdinaryDividend |
| Jul 31, 2019 | $0.001 | OrdinaryDividend |
| Jun 28, 2019 | $0.020 | OrdinaryDividend |
| Dec 01, 2010 | $0.006 | CapitalGainShortTerm |
| Dec 01, 2009 | $0.003 | CapitalGainShortTerm |
| Dec 01, 2008 | $0.028 | CapitalGainShortTerm |
| Dec 01, 2008 | $0.060 | CapitalGainLongTerm |
| Dec 03, 2007 | $0.012 | CapitalGainShortTerm |
| Dec 03, 2007 | $0.019 | CapitalGainLongTerm |
| Dec 01, 2006 | $0.003 | CapitalGainLongTerm |
| Jan 02, 1998 | $0.002 | CapitalGainShortTerm |
MBVAX - Fund Manager Analysis
Managers
Michael Dawson
Start Date
Tenure
Tenure Rank
Jan 01, 1999
23.43
23.4%
Michael L. Dawson is an investment officer and a portfolio manager of MFS Investment Management® (MFS®). Michael joined MFS in 1998 and was named portfolio manager in 1999. Prior to joining MFS, Michael worked in institutional sales - fixed income for Fidelity Capital Markets and Goldman Sachs. Prior to that, he was a research analyst in the municipal bond group at Franklin Templeton. He is a graduate of Santa Clara University and received an MBA degree from Babson College in 1999. He is a member of the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
