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Name

As of 08/04/2022

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 Lifetime 2020 Fund

MFLBX | Fund

$12.07

$279 M

0.00%

1.22%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

-3.9%

5 Yr Avg Return

-1.5%

Net Assets

$279 M

Holdings in Top 10

78.9%

52 WEEK LOW AND HIGH

$12.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.22%

SALES FEES

Front Load N/A

Deferred Load 4.00%

TRADING FEES

Turnover 30.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 08/04/2022

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 Lifetime 2020 Fund

MFLBX | Fund

$12.07

$279 M

0.00%

1.22%

MFLBX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return -3.9%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.08%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    MFS Lifetime 2020 Fund
  • Fund Family Name
    MFS
  • Inception Date
    Sep 29, 2005
  • Shares Outstanding
    N/A
  • Share Class
    B
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Joseph Flaherty

Fund Description

The fund is designed to provide diversification among different asset classes for investors with the approximate retirement year in the fund’s name. MFS (Massachusetts Financial Services Company, the fund’s investment adviser) invests substantially all of the fund’s assets in other MFS mutual funds, referred to as underlying funds. The underlying funds are selected following a two-stage asset allocation process.

The first stage is a strategic asset allocation to determine the percentage of the fund’s assets invested in the general asset classes of (1) Bond Funds, (2) International Stock Funds, and (3) U.S. Stock Funds, as well as (4) Specialty Funds (underlying funds that have less traditional investment strategies that MFS believes provide diversification benefits when added to a portfolio consisting of stock and bond funds).

The second stage involves the actual selection of underlying funds to represent the asset classes based on underlying fund classifications, historical risk, performance, and other factors.

Within the stock fund allocations, MFS seeks to diversify by geography (by including domestic and international underlying funds), in terms of market capitalization (by including large, mid, and small capitalization underlying funds) and by style (by including both growth and value underlying funds).

Within the bond fund allocation, MFS includes underlying funds with varying degrees of geographic, interest rate and credit exposure, including exposure to below investment grade quality debt instruments.

MFS normally invests the underlying funds’ assets across different industries, sectors, countries, and regions, but MFS may invest a significant percentage of the underlying funds’ assets in issuers in a single industry, sector, country, or region.

As of August 1, 2021, the fund’s approximate target allocation among asset classes and the underlying funds was:

Bond Funds:

71.0

%

MFS Emerging Markets Debt Fund

1.0

%

MFS Emerging Markets Debt Local Currency Fund

1.0

%

MFS Global Opportunistic Bond Fund1

7.0

%

MFS Government Securities Fund

10.0

%

MFS High Income Fund

2.0

%

MFS Inflation-Adjusted Bond Fund

10.0

%

MFS Limited Maturity Fund

20.0

%

MFS Total Return Bond Fund

20.0

%

International Stock Funds:

5.0

%

MFS Blended Research International Equity Fund

2.5

%

MFS International Growth Fund

0.5

%

MFS International Intrinsic Value Fund

0.5

%

MFS Research International Fund

1.5

%

U.S. Stock Funds:

20.0

%

MFS Blended Research Core Equity Fund

2.0

%

MFS Blended Research Growth Equity Fund

2.0

%

MFS Blended Research Mid Cap Equity Fund

3.0

%

MFS Blended Research Small Cap Equity Fund

1.0

%

MFS Blended Research Value Equity Fund

2.0

%

MFS Growth Fund

2.0

%

MFS Mid Cap Growth Fund

1.5

%

MFS Mid Cap Value Fund

1.5

%

MFS New Discovery Fund

0.5

%

MFS New Discovery Value Fund

0.5

%

MFS Research Fund

2.0

%

MFS Value Fund

2.0

%

Specialty Funds:

4.0

%

MFS Commodity Strategy Fund

2.0

%

MFS Global Real Estate Fund

2.0

%

1 Effective April 30, 2021, the name of MFS Global Bond Fund changed to MFS Global Opportunistic Bond Fund.

All percentages are rounded to the nearest tenth of a percent.  As a result, the sum of the target underlying fund allocations in each asset class may not equal the target asset class allocations for such asset class, and the target asset class and underlying fund allocations presented in the table may not total 100%.

The asset class allocations, as well as the underlying funds and their target weightings, are based on an allocation strategy designed for investors with the approximate retirement year in the fund’s name. Investors should also consider their age, personal circumstances, risk tolerance, and overall investment strategy and allocation. The asset allocation strategy will become increasingly conservative over time, shifting more weight from Stock Funds and Specialty Funds to Bond Funds.

Upon reaching its stated target year, the fund’s allocation strategy will be aligned with the allocation strategy of MFS Lifetime Income Fund.  It is expected that the fund will be combined with MFS Lifetime Income Fund within five years of the date that its asset allocation strategy matches the asset allocation strategy of MFS Lifetime Income Fund.  MFS Lifetime Income Fund is designed for investors who intend to withdraw assets over an extended period of time or who want an investment with an asset allocation mix similar to MFS Lifetime Income Fund’s target asset allocation. The chart below illustrates, as of August 1, 2021, how the asset allocation strategy of the fund will change over time.

Years to Retirement Bond International Stock U.S. Stock Specialty
RI -10 71 5 20 4
RI -5 71 5 20 4
RI 0 71 5 20 4
Con 5 60 8 28 4
Mod 10 40 13 41 6
Growth 15 20 20 52 8
formula 20 12.5 24 54.5 9
2040 25 5 28 57 10
2040 30 5 28 57 10
2040 35 5 28 57 10
2040 40 5 28 57 10
2040 45 5 28 57 10
2040 50 5 28 57 10
2040 55 5 28 57 10
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MFLBX - Performance

Return Ranking - Trailing

Period MFLBX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A 2.5% 8.3% 3.75%
1 Yr N/A -20.2% 2.3% 5.92%
3 Yr -3.9%* -27.0% 4.5% 52.41%
5 Yr -1.5%* -16.5% 1.9% 43.41%
10 Yr -0.2%* -7.3% 3.1% 32.26%

* Annualized

Return Ranking - Calendar

Period MFLBX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.1% -32.2% -7.8% 2.61%
2022 -0.9% -34.6% 5.8% 63.45%
2021 1.8% -4.2% 4.1% 59.03%
2020 2.2% 0.0% 3.7% 78.42%
2019 -1.6% -3.6% -1.0% 28.23%

Total Return Ranking - Trailing

Period MFLBX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A 2.5% 8.3% 3.75%
1 Yr N/A -20.2% 2.3% 5.92%
3 Yr -3.9%* -27.0% 4.5% 53.10%
5 Yr -0.7%* -16.5% 1.9% 31.78%
10 Yr 1.8%* -7.3% 3.8% 41.94%

* Annualized

Total Return Ranking - Calendar

Period MFLBX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.1% -32.2% -7.8% 2.61%
2022 -0.9% -34.6% 5.8% 63.45%
2021 1.8% -4.2% 4.1% 59.03%
2020 2.2% 0.0% 3.7% 78.42%
2019 -0.8% -3.6% -0.5% 11.29%

NAV & Total Return History


MFLBX - Holdings

Concentration Analysis

MFLBX Category Low Category High MFLBX % Rank
Net Assets 279 M 1.43 M 46 B 63.64%
Number of Holdings 27 7 562 42.21%
Net Assets in Top 10 223 M 169 K 45.4 B 64.29%
Weighting of Top 10 78.91% 47.3% 100.0% 38.67%

Top 10 Holdings

  1. MFS Limited Maturity R6 20.27%
  2. MFS Total Return Bond R6 20.03%
  3. MFS Inflation-Adjusted Bond R6 10.07%
  4. MFS Government Securities R6 10.04%
  5. MFS Global Opportunistic Bd R6 7.05%
  6. MFS Blended Research Mid Cap Eq R6 2.94%
  7. MFS Blended Research Intl Eq R6 2.48%
  8. MFS Commodity Strategy R6 2.04%
  9. MFS High Income R6 2.02%
  10. MFS Blended Research Value Equity R6 1.97%

Asset Allocation

Weighting Return Low Return High MFLBX % Rank
Bonds
70.33% 22.15% 75.85% 3.25%
Stocks
25.93% 0.00% 51.46% 94.81%
Other
2.08% -0.70% 9.51% 12.99%
Convertible Bonds
1.40% 0.00% 1.40% 2.60%
Cash
0.25% -1.67% 45.29% 96.10%
Preferred Stocks
0.00% 0.00% 0.31% 82.47%

Stock Sector Breakdown

Weighting Return Low Return High MFLBX % Rank
Technology
18.12% 13.94% 23.92% 50.66%
Financial Services
14.20% 12.26% 19.15% 76.97%
Healthcare
12.54% 10.66% 15.12% 47.37%
Industrials
11.20% 8.53% 12.76% 37.50%
Real Estate
10.77% 1.87% 16.02% 13.16%
Consumer Cyclical
10.06% 7.73% 13.31% 65.79%
Consumer Defense
6.07% 4.92% 10.96% 59.21%
Communication Services
5.83% 5.56% 9.97% 91.45%
Basic Materials
4.37% 3.04% 7.27% 66.45%
Energy
3.86% 2.44% 8.11% 77.63%
Utilities
2.96% 1.91% 7.99% 43.42%

Stock Geographic Breakdown

Weighting Return Low Return High MFLBX % Rank
US
19.76% 0.00% 39.75% 90.91%
Non US
6.17% 0.00% 26.19% 95.45%

Bond Sector Breakdown

Weighting Return Low Return High MFLBX % Rank
Government
41.02% 21.49% 99.39% 51.30%
Corporate
30.12% 0.01% 46.14% 36.36%
Securitized
21.95% 0.00% 30.82% 21.43%
Cash & Equivalents
5.43% 0.60% 62.69% 85.71%
Municipal
1.33% 0.00% 1.33% 2.60%
Derivative
0.15% 0.00% 15.15% 31.82%

Bond Geographic Breakdown

Weighting Return Low Return High MFLBX % Rank
US
57.71% 20.15% 75.85% 3.25%
Non US
12.62% 0.00% 16.75% 9.74%

MFLBX - Expenses

Operational Fees

MFLBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.22% 0.01% 49.43% 10.81%
Management Fee 0.00% 0.00% 0.62% 9.15%
12b-1 Fee 1.00% 0.00% 1.00% 91.03%
Administrative Fee N/A 0.01% 0.28% N/A

Sales Fees

MFLBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 4.00% 1.00% 4.00% 10.00%

Trading Fees

MFLBX 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.

MFLBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 5.00% 137.00% 41.18%

MFLBX - Distributions

Dividend Yield Analysis

MFLBX Category Low Category High MFLBX % Rank
Dividend Yield 0.00% 0.00% 3.73% 35.71%

Dividend Distribution Analysis

MFLBX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Semi-Annually

Net Income Ratio Analysis

MFLBX Category Low Category High MFLBX % Rank
Net Income Ratio 1.08% 0.16% 6.66% 80.13%

Capital Gain Distribution Analysis

MFLBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

MFLBX - Fund Manager Analysis

Managers

Joseph Flaherty


Start Date

Tenure

Tenure Rank

Sep 29, 2005

16.68

16.7%

Joseph C. Flaherty, Jr., is an investment officer and chief investment risk officer at MFS Investment Management® (MFS®). He serves as the director of the MFS' Quantitative Solutions group and is a portfolio manager of the firm's asset allocation portfolios. Joe joined MFS as a fixed-income quantitative research associate in 1993 and was named quantitative research analyst in 1996. He became manager of the Quantitative Research Group and portfolio manager in 1999, director of Fixed Income Quantitative Research in 2004, and director of the Quantitative Solutions Team in 2005.

Natalie Shapiro


Start Date

Tenure

Tenure Rank

Sep 01, 2018

3.75

3.8%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 16.68 6.05 2.41