MFS Municipal Income Fund
Name
As of 05/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.2%
1 yr return
3.1%
3 Yr Avg Return
-1.9%
5 Yr Avg Return
0.2%
Net Assets
$5.11 B
Holdings in Top 10
6.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.52%
SALES FEES
Front Load N/A
Deferred Load 4.00%
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MMIBX - Profile
Distributions
- YTD Total Return 0.2%
- 3 Yr Annualized Total Return -1.9%
- 5 Yr Annualized Total Return 0.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.42%
- Dividend Yield 2.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMFS Municipal Income Fund
-
Fund Family NameMFS
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassB
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGeoffrey 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 primarily invests the fund’s assets in investment grade quality debt instruments, but may also invest in below investment grade quality debt instruments.
MFS may invest 25% or more of the fund’s total assets in municipal instruments that finance similar projects, such as those relating to education, healthcare, housing, utilities, water, or sewers.
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.
MMIBX - Performance
Return Ranking - Trailing
Period | MMIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.2% | -3.1% | 13.5% | 48.37% |
1 Yr | 3.1% | -3.6% | 35.0% | 43.39% |
3 Yr | -1.9%* | -10.9% | 2.6% | 82.86% |
5 Yr | 0.2%* | -6.1% | 1102.2% | 81.81% |
10 Yr | 1.7%* | -0.5% | 248.3% | 53.72% |
* Annualized
Return Ranking - Calendar
Period | MMIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.3% | -1.4% | 41.0% | 30.42% |
2022 | -13.5% | -39.7% | 0.3% | 78.12% |
2021 | 0.9% | -5.6% | 6.9% | 9.31% |
2020 | 1.3% | -2.6% | 310.0% | 68.37% |
2019 | 4.8% | 0.0% | 26.0% | 18.00% |
Total Return Ranking - Trailing
Period | MMIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.2% | -3.1% | 13.5% | 48.37% |
1 Yr | 3.1% | -3.6% | 35.0% | 43.39% |
3 Yr | -1.9%* | -10.9% | 2.6% | 82.86% |
5 Yr | 0.2%* | -6.1% | 1102.2% | 81.81% |
10 Yr | 1.7%* | -0.5% | 248.3% | 53.72% |
* Annualized
Total Return Ranking - Calendar
Period | MMIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.1% | -1.3% | 41.0% | 37.86% |
2022 | -11.7% | -39.7% | 1.1% | 83.48% |
2021 | 2.5% | -4.8% | 23761504.0% | 25.15% |
2020 | 3.1% | -1.5% | 17057.9% | 71.50% |
2019 | 6.3% | 0.2% | 3514.6% | 55.83% |
NAV & Total Return History
MMIBX - Holdings
Concentration Analysis
MMIBX | Category Low | Category High | MMIBX % Rank | |
---|---|---|---|---|
Net Assets | 5.11 B | 3.22 M | 71.9 B | 5.93% |
Number of Holdings | 1952 | 2 | 13067 | 3.45% |
Net Assets in Top 10 | 318 M | -317 M | 3.56 B | 10.74% |
Weighting of Top 10 | 6.33% | 2.0% | 100.2% | 94.85% |
Top 10 Holdings
- MFS Institutional Money Market Portfolio, Class A 1.53%
- Texas Municipal Gas Acquisition Supply Corp. IV, Series 2023B 0.66%
- New York Transportation Development Corp., Series 2023 0.59%
- New Hampshire Business Finance Authority, Series 2023A 0.56%
- California Community Choice Financing Authority 0.55%
- Buckeye Tobacco Settlement Financing Authority 0.55%
- Black Belt Energy Gas District, Series 2023C 0.51%
- Puerto Rico Sales Tax Financing Corp. Sales Tax 0.49%
- Virginia Housing Development Authority, Series 2023 D 0.45%
- New York Liberty Development Corp. 0.45%
Asset Allocation
Weighting | Return Low | Return High | MMIBX % Rank | |
---|---|---|---|---|
Bonds | 97.25% | 0.00% | 150.86% | 71.24% |
Cash | 2.75% | -50.86% | 46.80% | 24.28% |
Stocks | 0.00% | 0.00% | 99.81% | 27.65% |
Preferred Stocks | 0.00% | 0.00% | 0.10% | 19.99% |
Other | 0.00% | -3.18% | 23.38% | 28.58% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 19.87% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MMIBX % Rank | |
---|---|---|---|---|
Municipal | 96.14% | 44.39% | 100.00% | 73.27% |
Cash & Equivalents | 1.53% | 0.00% | 46.24% | 26.95% |
Corporate | 0.40% | 0.00% | 9.41% | 6.60% |
Derivative | 0.00% | -3.18% | 23.38% | 25.26% |
Securitized | 0.00% | 0.00% | 5.93% | 21.37% |
Government | 0.00% | 0.00% | 52.02% | 26.73% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MMIBX % Rank | |
---|---|---|---|---|
US | 97.25% | 0.00% | 142.23% | 67.71% |
Non US | 0.00% | 0.00% | 23.89% | 28.32% |
MMIBX - Expenses
Operational Fees
MMIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.52% | 0.01% | 20.65% | 14.15% |
Management Fee | 0.37% | 0.00% | 1.20% | 31.16% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 83.11% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
MMIBX 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% | 6.00% |
Trading Fees
MMIBX 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.
MMIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 283.00% | 72.72% |
MMIBX - Distributions
Dividend Yield Analysis
MMIBX | Category Low | Category High | MMIBX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.62% | 0.00% | 14.51% | 60.83% |
Dividend Distribution Analysis
MMIBX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
MMIBX | Category Low | Category High | MMIBX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.42% | -0.53% | 5.33% | 74.57% |
Capital Gain Distribution Analysis
MMIBX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.018 | OrdinaryDividend |
Mar 28, 2024 | $0.019 | OrdinaryDividend |
Mar 01, 2024 | $0.018 | OrdinaryDividend |
Feb 01, 2024 | $0.019 | OrdinaryDividend |
Dec 28, 2023 | $0.019 | OrdinaryDividend |
Nov 30, 2023 | $0.018 | OrdinaryDividend |
Oct 31, 2023 | $0.018 | OrdinaryDividend |
Sep 29, 2023 | $0.018 | OrdinaryDividend |
Aug 31, 2023 | $0.017 | OrdinaryDividend |
Jul 31, 2023 | $0.017 | OrdinaryDividend |
Jun 30, 2023 | $0.017 | OrdinaryDividend |
May 31, 2023 | $0.018 | OrdinaryDividend |
Apr 28, 2023 | $0.016 | OrdinaryDividend |
Mar 31, 2023 | $0.017 | OrdinaryDividend |
Feb 28, 2023 | $0.014 | OrdinaryDividend |
Jan 31, 2023 | $0.015 | OrdinaryDividend |
Dec 30, 2022 | $0.015 | OrdinaryDividend |
Nov 30, 2022 | $0.014 | OrdinaryDividend |
Oct 31, 2022 | $0.014 | OrdinaryDividend |
Sep 30, 2022 | $0.013 | OrdinaryDividend |
Aug 31, 2022 | $0.014 | OrdinaryDividend |
Jul 29, 2022 | $0.013 | OrdinaryDividend |
Jun 30, 2022 | $0.014 | OrdinaryDividend |
May 31, 2022 | $0.014 | OrdinaryDividend |
Apr 29, 2022 | $0.011 | OrdinaryDividend |
Mar 31, 2022 | $0.011 | OrdinaryDividend |
Feb 28, 2022 | $0.009 | OrdinaryDividend |
Jan 31, 2022 | $0.010 | OrdinaryDividend |
Dec 31, 2021 | $0.010 | OrdinaryDividend |
Nov 30, 2021 | $0.010 | OrdinaryDividend |
Oct 29, 2021 | $0.011 | OrdinaryDividend |
Sep 30, 2021 | $0.010 | OrdinaryDividend |
Aug 31, 2021 | $0.011 | OrdinaryDividend |
Jul 30, 2021 | $0.011 | OrdinaryDividend |
Jun 30, 2021 | $0.011 | OrdinaryDividend |
May 28, 2021 | $0.012 | OrdinaryDividend |
Apr 30, 2021 | $0.012 | OrdinaryDividend |
Mar 31, 2021 | $0.012 | OrdinaryDividend |
Feb 26, 2021 | $0.011 | OrdinaryDividend |
Jan 29, 2021 | $0.013 | OrdinaryDividend |
Dec 31, 2020 | $0.013 | OrdinaryDividend |
Nov 30, 2020 | $0.013 | OrdinaryDividend |
Oct 30, 2020 | $0.014 | OrdinaryDividend |
Sep 30, 2020 | $0.013 | OrdinaryDividend |
Aug 31, 2020 | $0.014 | OrdinaryDividend |
Jul 31, 2020 | $0.015 | OrdinaryDividend |
Jun 30, 2020 | $0.014 | OrdinaryDividend |
May 29, 2020 | $0.015 | OrdinaryDividend |
Apr 30, 2020 | $0.015 | OrdinaryDividend |
Mar 31, 2020 | $0.016 | OrdinaryDividend |
Feb 28, 2020 | $0.013 | OrdinaryDividend |
Dec 31, 2019 | $0.000 | OrdinaryDividend |
Nov 29, 2019 | $0.000 | OrdinaryDividend |
Oct 31, 2019 | $0.000 | OrdinaryDividend |
Sep 30, 2019 | $0.000 | OrdinaryDividend |
Aug 30, 2019 | $0.000 | OrdinaryDividend |
Jul 31, 2019 | $0.000 | OrdinaryDividend |
Jun 28, 2019 | $0.017 | OrdinaryDividend |
Dec 01, 2008 | $0.034 | CapitalGainLongTerm |
Dec 03, 2007 | $0.009 | CapitalGainLongTerm |
Dec 01, 2000 | $0.049 | CapitalGainLongTerm |
Dec 03, 1999 | $0.058 | CapitalGainLongTerm |
Jan 02, 1996 | $0.036 | OrdinaryDividend |
MMIBX - Fund Manager Analysis
Managers
Geoffrey Schechter
Start Date
Tenure
Tenure Rank
Mar 23, 2000
22.2
22.2%
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.
Jason Kosty
Start Date
Tenure
Tenure Rank
Jul 29, 2015
6.84
6.8%
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 |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |