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MFS Managed Wealth Fund
mutual fund
MNWRX
Payout Change
Pending
Price as of:
$12.03
-0.02
-0.17%
primary theme
Long-Short Equity
MNWRX (Mutual Fund)
MFS Managed Wealth Fund
Payout Change
Pending
Price as of:
$12.03
-0.02
-0.17%
primary theme
Long-Short Equity
MNWRX (Mutual Fund)
MFS Managed Wealth Fund
Payout Change
Pending
Price as of:
$12.03
-0.02
-0.17%
primary theme
Long-Short Equity
Name
As of 12/12/2024Price
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
6.5%
1 yr return
7.0%
3 Yr Avg Return
2.5%
5 Yr Avg Return
2.0%
Net Assets
$42.2 M
Holdings in Top 10
100.3%
52 WEEK LOW AND HIGH
$12.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.54%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 50.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
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
MNWRX - Profile
Distributions
- YTD Total Return 6.5%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.83%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameMFS Managed Wealth Fund
-
Fund Family NameMFS Funds
-
Inception DateJun 27, 2014
-
Shares OutstandingN/A
-
Share ClassR1
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Almeida
Fund Description
MFS (Massachusetts Financial Services Company, the fund's investment adviser) seeks to achieve the fund’s objective by generating returns from (1) a strategic allocation to three MFS equity funds, referred to as underlying funds, and (2) a tactical asset allocation overlay primarily using derivative instruments to seek to decrease the volatility of the fund’s returns by reducing the fund’s exposure to the equity and/or currency markets as represented by the underlying funds and also to potentially expose the fund to asset classes and/or markets in which the underlying funds have little or no exposure (e.g., high income debt instruments). In addition, MFS may use derivatives to seek to limit the fund’s exposure to certain extreme market events.
Derivatives include futures, forward contracts, options, and swaps.
It is expected that the fund will generally have lower volatility than that of the overall equity market.
A committee of portfolio managers is responsible for selecting the underlying funds, determining the target strategic allocations to the underlying funds, and determining the fund's tactical allocation overlay.
Strategic Fund Allocation: The underlying funds are selected by the committee of portfolio managers based on underlying fund classifications, historical risk, performance, and other factors. MFS expects the fund’s target allocation to be equally weighted among the following underlying funds: MFS Growth Fund, MFS International Equity Fund, and MFS Value Fund.
A portion of the fund's assets (approximately 10%-15%) will typically be held in cash, cash equivalents, and/or short-term government securities due to collateral requirements for the fund's investments in derivatives, purchase and redemption activity, and other short term cash needs.
Tactical Asset Allocation Overlay: MFS implements the tactical asset allocation overlay primarily through the use of derivative instruments based on the committee of portfolio managers' assessment of the relative attractiveness of asset classes and markets. In seeking to reduce the fund's volatility, MFS decreases the fund’s exposure to the equity and/or currency markets represented by the underlying funds. In addition, MFS may expose the fund to asset classes and/or markets in which the underlying funds have little or no exposure (e.g., high income debt instruments or small cap equity securities) when the committee of portfolio managers believes such asset classes or markets are relatively attractive.
After taking into account the tactical asset allocation overlay, the fund's total market exposure will normally be between 10% and 90% of the fund's assets. (The fund's total market exposure includes the fund's exposure to the equity market through investment in the underlying funds and exposure to any other markets through the tactical overlay.) When the committee of portfolio managers' assessment of the relative attractiveness of asset classes and markets is neutral, the fund's exposure to the equity market is expected to be approximately 50% of the fund's assets.
After taking into account the tactical overlay, the fund may have significant exposure to issuers in a single sector, industry, country, or region.
MFS' tactical asset allocation process for the fund will typically make extensive use of derivatives.
In light of the fund’s principal investment strategies described above, MFS believes it is reasonable to measure the fund’s performance (net of fund expenses) over a full market cycle relative to the performance of (i) the ICE BofA 0-3 Month U.S. Treasury Bill Index plus 2% to 4% and (ii) the Standard & Poor's 500 Stock Index. MFS does not seek to achieve a specific rate of return in managing the fund and there is no assurance that the fund will outperform the ICE BofA 0-3 Month U.S. Treasury Bill Index or the Standard & Poor's 500 Stock Index over the long term or for any year or period of years.
MNWRX - Performance
Return Ranking - Trailing
| Period | MNWRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.5% | -9.6% | 41.3% | 84.35% |
| 1 Yr | 7.0% | -9.5% | 46.8% | 89.80% |
| 3 Yr | 2.5%* | -8.3% | 25.3% | 72.73% |
| 5 Yr | 2.0%* | -2.7% | 24.1% | 86.67% |
| 10 Yr | 2.3%* | -4.0% | 10.0% | 78.87% |
* Annualized
Return Ranking - Calendar
| Period | MNWRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.4% | -17.3% | 43.8% | 54.42% |
| 2022 | -3.1% | -54.0% | 17.4% | 25.00% |
| 2021 | 0.4% | -40.0% | 54.1% | 73.81% |
| 2020 | 2.0% | -47.6% | 88.4% | 60.00% |
| 2019 | 7.7% | -20.3% | 62.6% | 70.80% |
Total Return Ranking - Trailing
| Period | MNWRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.5% | -9.6% | 41.3% | 84.35% |
| 1 Yr | 7.0% | -9.5% | 46.8% | 89.80% |
| 3 Yr | 2.5%* | -8.3% | 25.3% | 72.73% |
| 5 Yr | 2.0%* | -2.7% | 24.1% | 86.67% |
| 10 Yr | 2.3%* | -4.0% | 10.0% | 78.87% |
* Annualized
Total Return Ranking - Calendar
| Period | MNWRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.4% | -14.5% | 43.8% | 76.87% |
| 2022 | -3.1% | -54.0% | 50.3% | 32.58% |
| 2021 | 0.4% | -40.0% | 61.6% | 84.13% |
| 2020 | 2.0% | -29.9% | 91.0% | 62.50% |
| 2019 | 7.7% | -17.9% | 79.4% | 80.53% |
NAV & Total Return History
MNWRX - Holdings
Concentration Analysis
| MNWRX | Category Low | Category High | MNWRX % Rank | |
|---|---|---|---|---|
| Net Assets | 42.2 M | 1.08 M | 6.67 B | 80.27% |
| Number of Holdings | 15 | 3 | 2730 | 83.67% |
| Net Assets in Top 10 | 39.1 M | -4.86 M | 2.41 B | 56.46% |
| Weighting of Top 10 | 100.30% | -9.9% | 110.8% | 6.80% |
Top 10 Holdings
- MFS Value Fund 31.43%
- MFS Institutional Trust-MFS International Equity Fund 31.23%
- MFS Growth Fund 30.59%
- MFS Institutional Money Market Portfolio 3.86%
- U.S. Treasury Notes 1.03%
- U.S. Treasury Notes 1.02%
- U.S. Treasury Notes 1.02%
- S+P 500 INDEX 0.08%
- S+P 500 INDEX 0.02%
- S+P 500 INDEX 0.01%
Asset Allocation
| Weighting | Return Low | Return High | MNWRX % Rank | |
|---|---|---|---|---|
| Stocks | 93.25% | -0.13% | 113.26% | 11.56% |
| Cash | 5.71% | 0.00% | 109.95% | 87.07% |
| Bonds | 3.07% | 0.00% | 108.68% | 23.13% |
| Preferred Stocks | 0.00% | -1.13% | 6.36% | 65.99% |
| Convertible Bonds | 0.00% | -0.02% | 4.48% | 61.87% |
| Other | -2.03% | -57.63% | 99.50% | 95.24% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MNWRX % Rank | |
|---|---|---|---|---|
| Financial Services | 18.53% | 0.00% | 83.83% | 31.36% |
| Technology | 17.71% | 0.00% | 43.24% | 61.86% |
| Healthcare | 17.25% | 0.00% | 100.00% | 35.59% |
| Industrials | 13.71% | 0.00% | 31.93% | 25.42% |
| Consumer Defense | 8.16% | 0.00% | 19.75% | 24.58% |
| Consumer Cyclical | 7.67% | 0.00% | 88.83% | 76.27% |
| Communication Services | 5.98% | 0.00% | 32.32% | 71.19% |
| Basic Materials | 5.42% | 0.00% | 28.58% | 32.20% |
| Utilities | 2.84% | 0.00% | 21.71% | 33.90% |
| Energy | 2.00% | 0.00% | 32.57% | 81.36% |
| Real Estate | 0.74% | 0.00% | 10.93% | 61.86% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MNWRX % Rank | |
|---|---|---|---|---|
| US | 93.25% | 0.00% | 113.26% | 11.56% |
| Non US | 0.00% | -2.95% | 54.79% | 68.03% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MNWRX % Rank | |
|---|---|---|---|---|
| Government | 6.33% | 0.00% | 58.54% | 16.67% |
| Cash & Equivalents | 3.86% | -0.01% | 86.52% | 63.27% |
| Securitized | 0.00% | 0.00% | 13.59% | 63.77% |
| Corporate | 0.00% | 0.00% | 79.13% | 66.67% |
| Municipal | 0.00% | 0.00% | 0.07% | 62.32% |
| Derivative | -2.03% | -57.63% | 99.49% | 95.24% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MNWRX % Rank | |
|---|---|---|---|---|
| US | 3.07% | 0.00% | 95.89% | 23.13% |
| Non US | 0.00% | 0.00% | 12.79% | 62.59% |
MNWRX - Expenses
Operational Fees
| MNWRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.54% | 0.42% | 9.95% | 32.65% |
| Management Fee | 0.35% | 0.00% | 2.50% | 6.12% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 91.03% |
| Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
| MNWRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MNWRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | 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.
| MNWRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 50.00% | 0.00% | 446.00% | 35.40% |
MNWRX - Distributions
Dividend Yield Analysis
| MNWRX | Category Low | Category High | MNWRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 27.22% | 90.41% |
Dividend Distribution Analysis
| MNWRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Annual | Annual |
Net Income Ratio Analysis
| MNWRX | Category Low | Category High | MNWRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.83% | -3.33% | 2.16% | 48.28% |
Capital Gain Distribution Analysis
| MNWRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2016 | $0.255 | CapitalGainLongTerm |
| Dec 29, 2015 | $0.060 | CapitalGainLongTerm |
| Dec 30, 2014 | $0.025 | OrdinaryDividend |
MNWRX - Fund Manager Analysis
Managers
Robert Almeida
Start Date
Tenure
Tenure Rank
Jun 27, 2014
7.93
7.9%
Robert M. Almeida Jr. is an investment officer and institutional portfolio manager at MFS Investment Management® (MFS®). He serves as a member of the US Equity Growth team, participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines and manages daily cash flows. He also serves as a portfolio manager on an alternative strategy run by a committee of MFS portfolio managers. Rob joined MFS in 1999 and most recently served as an institutional portfolio manager for the Fixed Income Department from 2007 through 2009. Before joining the firm in 1999, he worked at Putnam Investments, focusing on the firm's efforts in Japan. Rob is a graduate of the University of Massachusetts at Amherst, and earned his Master of Science degree in Finance from the Sawyer School of Management at Suffolk University. 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.
William Adams
Start Date
Tenure
Tenure Rank
Jun 27, 2014
7.93
7.9%
William J. Adams, CFA, is an investment officer and director of Fixed Income at MFS Investment Management® (MFS®). Bill's responsibilities include managing MFS' team of fixed-income research analysts as well as serving on the portfolio management team of several of the firm's fixed-income strategies. Bill joined MFS as a corporate credit analyst in 1997 and was named portfolio manager in 2000. He left MFS in 2005 and re-joined the firm in 2009 as director of High Yield Research. The following year, he was appointed director of Credit Research. He was named high-yield portfolio manager in May 2011. In 2011, he was appointed director of Fixed Income along with Joshua Marston. During his tenure at MFS, Bill's coverage responsibilities have varied across a number of sectors, including industrials, media, cable, telecommunication, retail, and consumer products. As a portfolio manager, he has invested across a variety of both investment-grade and high-yield corporate bond securities. Prior to joining MFS, Bill was a credit/securities analyst at Conseco Capital Management from 1994 to 1997, where his responsibilities included investment-grade and high-yield credit, as well as equity coverage. From 1991 to 1994, he served as a lending officer at Mellon Bank. Bill received a BA in 1988 from LaSalle University. In 1990, he was awarded an MA from Indiana University where he also received an MBA in 1991. He has earned the Chartered Financial Analyst (CFA) designation from the CFA Institute and is a member of the Boston Security Analysts Society.
Barnaby Wiener
Start Date
Tenure
Tenure Rank
Jun 27, 2014
7.93
7.9%
Barnaby Wiener is an investment officer of MFS Investment Management® (MFS®) and equity portfolio manager of the international value, global value, and global total return portfolios of the firm's mutual funds, variable annuities, and institutional investment strategies. He is based in MFS' London office. Barnaby joined MFS as a research analyst in 1998. Previously, he was an equity research analyst at Merrill Lynch. Prior to that, he served as an equity research analyst at Crédit Lyonnais and as a captain in the British Army. He is a graduate of Ampleforth College and Oxford University.
Michael Roberge
Start Date
Tenure
Tenure Rank
Jun 27, 2014
7.93
7.9%
Joined MFS in 1996 as a Fixed Income Research Analyst; named Portfolio Manager in 1997; promoted to Associate Director of Fixed Income Research in 2000; promoted to Director of Fixed Income Research in 2002; promoted to Chief Fixed Income Officer and Director of Fixed Income Portfolio Management in 2004; named Chief Investment Officer U.S. Investments and Co-Director of Global Research in 2006 Previous experience includes: one year as a Senior Municipal Analyst and Associate Portfolio Manager for Colonial Management Associates, and four years as a Municipal Bond Analyst for Moody’s Investors Service Affiliation(s): CFA Institute; National Federation of Municipal Analysts; Boston Municipal Analysts Forum; Boston Securities Analysts Society, Inc. Hofstra University, MBA, with distinction Bemidji State University, BS, summa cum laude
David Cole
Start Date
Tenure
Tenure Rank
Nov 01, 2021
0.58
0.6%
David P. Cole, CFA, is an Investment Officer of MFS Investment Management® (MFS®) and Portfolio Manager at the firm. David employed in the investment area of MFS since 2004 after working for five years as a High Yield Analyst for Franklin Templeton Investments. Prior to this, he served as a financial economist/treasury market analyst for Thomson Financial Services and two years as an economist for Standard and Poor's. David has a bachelor's degree from Cornell University and an MBA from University of California, Berkeley. He holds the Chartered Financial Analyst (CFA) designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 23.55 | 5.96 | 7.93 |
