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Trending ETFs

MFS Municipal High Income Fund

mutual fund
MMIIX
Payout Change
Pending
Price as of:
$7.65 -0.01 -0.13%
primary theme
High Yield Municipal Bond
share class
B (MMHBX) A (MMHYX) I (MMIIX) C (MMHCX) R6 (MMHKX)
MMIIX (Mutual Fund)

MFS Municipal High Income Fund

Payout Change
Pending
Price as of:
$7.65 -0.01 -0.13%
primary theme
High Yield Municipal Bond
share class
B (MMHBX) A (MMHYX) I (MMIIX) C (MMHCX) R6 (MMHKX)
MMIIX (Mutual Fund)

MFS Municipal High Income Fund

Payout Change
Pending
Price as of:
$7.65 -0.01 -0.13%
primary theme
High Yield Municipal Bond
share class
B (MMHBX) A (MMHYX) I (MMIIX) C (MMHCX) R6 (MMHKX)

Name

As of 12/09/2024

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

MFS Municipal High Income Fund

MMIIX | Fund

$7.65

$4.24 B

4.15%

$0.32

0.67%

Vitals

YTD Return

8.8%

1 yr return

11.8%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

1.5%

Net Assets

$4.24 B

Holdings in Top 10

12.1%

52 WEEK LOW AND HIGH

$7.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.67%

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 12/09/2024

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

MFS Municipal High Income Fund

MMIIX | Fund

$7.65

$4.24 B

4.15%

$0.32

0.67%

MMIIX - Profile

Distributions

  • YTD Total Return 8.8%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.94%
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    MFS Municipal High Income Fund
  • Fund Family Name
    MFS Funds
  • Inception Date
    Jun 01, 2011
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Geoffrey 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 types of 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.

Read More

MMIIX - Performance

Return Ranking - Trailing

Period MMIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% -0.7% 14.9% 10.45%
1 Yr 11.8% -0.1% 17.7% 7.96%
3 Yr -0.1%* -8.1% 3.4% 37.24%
5 Yr 1.5%* -4.7% 4.0% 44.10%
10 Yr 3.2%* -0.5% 155.7% 39.37%

* Annualized

Return Ranking - Calendar

Period MMIIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -6.2% 7.5% 73.76%
2022 -17.1% -26.9% -3.5% 46.73%
2021 2.1% -1.9% 5.6% 51.27%
2020 -0.2% -4.0% 4.2% 66.84%
2019 5.5% -0.7% 9.1% 39.47%

Total Return Ranking - Trailing

Period MMIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% -0.7% 14.9% 10.45%
1 Yr 11.8% -0.1% 17.7% 7.96%
3 Yr -0.1%* -8.1% 3.4% 37.24%
5 Yr 1.5%* -4.7% 4.0% 44.10%
10 Yr 3.2%* -0.5% 155.7% 39.37%

* Annualized

Total Return Ranking - Calendar

Period MMIIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -4.1% 10.9% 54.95%
2022 -13.7% -26.9% 4.3% 46.73%
2021 5.5% -1.9% 10.0% 48.22%
2020 3.2% -2.6% 8.2% 59.69%
2019 7.9% -0.7% 1028633.9% 70.53%

NAV & Total Return History

MMIIX - Holdings

Concentration Analysis

MMIIX Category Low Category High MMIIX % Rank
Net Assets 4.24 B 3.1 M 15.6 B 23.50%
Number of Holdings 1724 20 3325 16.08%
Net Assets in Top 10 529 M -102 M 1.96 B 23.62%
Weighting of Top 10 12.06% 4.6% 98.9% 57.79%

Top 10 Holdings

  1. MFS Institutional Money Market Portfolio, Class A 3.59%
  2. Puerto Rico Sales Tax Financing Corp. Sales Tax 2.35%
  3. Buckeye Tobacco Settlement Financing Authority 1.62%
  4. New York City Housing Development Corp. 1.06%
  5. California Community Choice Financing Authority 0.62%
  6. New York Transportation Development Corp., Series 2023 0.58%
  7. City of Chicago 0.58%
  8. New York Liberty Development Corp. 0.56%
  9. New Hampshire Business Finance Authority, Series 2023A 0.55%
  10. Iowa Tobacco Settlement Authority 0.54%

Asset Allocation

Weighting Return Low Return High MMIIX % Rank
Bonds 		95.88% 0.00% 146.69% 81.68%
Cash 		4.12% -0.64% 10.86% 11.06%
Stocks 		0.00% 0.00% 99.72% 28.22%
Preferred Stocks 		0.00% -47.61% 0.00% 64.82%
Other 		0.00% -5.67% 5.07% 67.84%
Convertible Bonds 		0.00% 0.00% 0.00% 62.81%

Stock Sector Breakdown

Weighting Return Low Return High MMIIX % Rank
Utilities 		0.00% 0.00% 0.00% 96.83%
Technology 		0.00% 0.00% 0.00% 96.83%
Real Estate 		0.00% 0.00% 0.00% 96.83%
Industrials 		0.00% 0.00% 4.78% 98.41%
Healthcare 		0.00% 0.00% 0.00% 96.83%
Financial Services 		0.00% 0.00% 0.00% 96.83%
Energy 		0.00% 0.00% 0.00% 96.83%
Communication Services 		0.00% 0.00% 0.00% 96.83%
Consumer Defense 		0.00% 0.00% 0.00% 96.83%
Consumer Cyclical 		0.00% 0.00% 77.65% 96.83%
Basic Materials 		0.00% 17.58% 100.00% 98.41%

Stock Geographic Breakdown

Weighting Return Low Return High MMIIX % Rank
US 		0.00% 0.00% 99.72% 28.64%
Non US 		0.00% 0.00% 0.00% 62.81%

Bond Sector Breakdown

Weighting Return Low Return High MMIIX % Rank
Municipal 		96.31% 50.68% 100.00% 81.41%
Cash & Equivalents 		3.59% 0.00% 10.86% 9.55%
Corporate 		0.49% 0.00% 2.83% 27.64%
Derivative 		0.00% -7.70% 2.16% 64.82%
Securitized 		0.00% 0.00% 22.44% 65.33%
Government 		0.00% 0.00% 0.09% 65.83%

Bond Geographic Breakdown

Weighting Return Low Return High MMIIX % Rank
US 		95.88% 0.00% 139.84% 78.39%
Non US 		0.00% 0.00% 13.35% 66.83%

MMIIX - Expenses

Operational Fees

MMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.67% 0.22% 3.44% 80.69%
Management Fee 0.53% 0.00% 1.41% 67.82%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

MMIIX 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% 4.00% N/A

Trading Fees

MMIIX 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.

MMIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 2.00% 121.00% 40.64%

MMIIX - Distributions

Dividend Yield Analysis

MMIIX Category Low Category High MMIIX % Rank
Dividend Yield 4.15% 0.00% 5.94% 23.76%

Dividend Distribution Analysis

MMIIX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

MMIIX Category Low Category High MMIIX % Rank
Net Income Ratio 2.94% 1.11% 5.44% 62.87%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MMIIX - 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
0.25 21.43 7.58 2.52

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