Morningstar Advisor - April/May 2010 - Cover4

DISCIPLINE.
® At MFS Investment Management, we have been providing disciplined risk management since 1924 — the year we invented the mutual fund. Today, we offer a wide range of funds with high Morningstar® ratings.

THE PRODUCTS OF

MFS® Value Fund1,2

Morningstar® Category: Large Value Class A Symbol: MEIAX

(load waived)

Overall 4 stars 5 stars LW 1,104 funds

3 Years 4 stars 4 stars 1,104 funds

5 Years 4 stars 4 stars 912 funds

10 Years 4 stars 5 stars 459 funds

As of December 31, 2009 Past performance is no guarantee of future results. Ratings are based on risk-adjusted returns.

Why Choose MFS: ■ We have strong historical relative performance ■ We work exclusively with financial advisors ■ We offer investors a research-driven process, global vision, and disciplined choice See our performance at mfs.com/stars, or call us at 1.800.343.2829. ® We make the funds, you make the choice.
Investors should consider products based on their needs, goals, risk tolerance, and overall asset allocation strategy. For more recent month-end Morningstar Ratings, please visit mfs.com. Ratings may vary among share classes, and past performance is no guarantee of future results. Morningstar Rating™ is based on a risk-adjusted return measure that accounts for variation in a fund’s monthly historical performance (reflecting sales charges), placing more emphasis on downward variations and rewarding consistent performance. Load-waived (LW) ratings do not include any front-end sales load and are intended for investors who have access to such terms. Not all funds with a load-waived rating may waive their front-end load. Contact your advisor to determine if you are eligible to purchase the load-waived A share. Within each asset class, the top 10%, the next 22.5%, 35%, 22.5%, and the bottom 10% receive 5, 4, 3, 2, or 1 star, respectively. Each fund is rated exclusively against U.S.-domiciled funds. The Overall Morningstar Rating™ is based on the weighted average of the number of stars assigned to the fund’s applicable time periods. The 10-year rating accounts for 50%, the 5-year rating for 30%, and the 3-year rating for 20%. The Morningstar information contained herein: (1) is proprietary to Morningstar; (2) may not be copied; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. ©2010 Morningstar, Inc. All Rights Reserved.

MFS® International Value Fund1,2,3,4

Morningstar® Category: Foreign Large Value Class A Symbol: MGIAX

(load waived)

Overall 4 stars 5 stars LW 274 funds

3 Years 4 stars 5 stars 274 funds

5 Years 5 stars 5 stars 199 funds

10 Years 4 stars 4 stars 123 funds

As of December 31, 2009 Past performance is no guarantee of future results. Ratings are based on risk-adjusted returns.

MFS® Total Return Fund1,2,3,5,6

Morningstar® Category: Moderate Allocation Class A Symbol: MSFRX

A word about risk
1 2

Stocks and stock markets are volatile and fluctuate in response to company-specific factors, and general market, political, regulatory, and economic conditions. The stocks of value companies can continue to be undervalued for long periods of time and not realize their expected value. 3 Exposure to foreign markets through issuers or currencies, can involve increased volatility due to adverse market, economic, political, regulatory, geopolitical, or other conditions. In addition, foreign markets can react differently to these conditions than the U.S. market. 4 The portfolio may invest a substantial amount of its assets in issuers located in a limited number of countries and therefore is susceptible to adverse economic, political, or regulatory developments affecting those countries. 5 Instruments subject to prepayment can offer less potential for gains and greater potential for loss and can be very volatile. 6 Bonds fluctuate based on changes in interest rates and the credit quality of the issuer. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Bonds can decline due to general market, political, regulatory, and economic conditions.

(load waived)

Overall 4 stars 4 stars LW 953 funds

3 Years 3 stars 3 stars 953 funds

5 Years 3 stars 3 stars 786 funds

10 Years 4 stars 4 stars 441 funds

As of December 31, 2009 Past performance is no guarantee of future results. Ratings are based on risk-adjusted returns.

Before investing, consider the fund’s investment objectives, risks, charges, and expenses. For a prospectus containing this and other information, contact your investment professional or view it online at mfs.com. Please read it carefully.
MFS Fund Distributors, Inc. 19220.1


http://www.mfs.com/stars http://www.mfs.com http://www.mfs.com http://www.mfs.com

Morningstar Advisor - April/May 2010

Table of Contents for the Digital Edition of Morningstar Advisor - April/May 2010

Morningstar Advisor - April/May 2010
Contents
New On MorningstarAdvisor.com
Contributors
Letter from the Editor
Our Job: Building Better Investors
What’s Your Biggest Long-term Concern for the Economy?
An Early Start
Women’s Work
Investment Briefs
Markowitz 2.0
Asset Allocation Is King
A Decade of Riskier Assets ...
... but with plenty of Silver Linings
Be Prepared
Facing up to the Economy’s Problems
Levelheaded
Surviving on Conviction
Four Picks for the Present
Pharmaceutical Firms Get the Urge to Merge
Funds That Look Cheaper Than the Market
Finding Dividend Leaders
Mutual Fund Analyst Picks
50 Most Popular ETFs
Undervalued Stocks with Wide Moats
VAs: Assets Rise as New Sales Slip
New at Morningstar
When You Wish Upon a Star
Morningstar Advisor - April/May 2010 - Morningstar Advisor - April/May 2010
Morningstar Advisor - April/May 2010 - Cover2
Morningstar Advisor - April/May 2010 - 1
Morningstar Advisor - April/May 2010 - 2
Morningstar Advisor - April/May 2010 - Contents
Morningstar Advisor - April/May 2010 - 4
Morningstar Advisor - April/May 2010 - 5
Morningstar Advisor - April/May 2010 - New On MorningstarAdvisor.com
Morningstar Advisor - April/May 2010 - 7
Morningstar Advisor - April/May 2010 - Contributors
Morningstar Advisor - April/May 2010 - Letter from the Editor
Morningstar Advisor - April/May 2010 - 10
Morningstar Advisor - April/May 2010 - Our Job: Building Better Investors
Morningstar Advisor - April/May 2010 - 12
Morningstar Advisor - April/May 2010 - 13
Morningstar Advisor - April/May 2010 - What’s Your Biggest Long-term Concern for the Economy?
Morningstar Advisor - April/May 2010 - 15
Morningstar Advisor - April/May 2010 - An Early Start
Morningstar Advisor - April/May 2010 - 17
Morningstar Advisor - April/May 2010 - Women’s Work
Morningstar Advisor - April/May 2010 - 19
Morningstar Advisor - April/May 2010 - Investment Briefs
Morningstar Advisor - April/May 2010 - 21
Morningstar Advisor - April/May 2010 - Markowitz 2.0
Morningstar Advisor - April/May 2010 - 23
Morningstar Advisor - April/May 2010 - 24
Morningstar Advisor - April/May 2010 - 25
Morningstar Advisor - April/May 2010 - 26
Morningstar Advisor - April/May 2010 - 27
Morningstar Advisor - April/May 2010 - Asset Allocation Is King
Morningstar Advisor - April/May 2010 - 29
Morningstar Advisor - April/May 2010 - 30
Morningstar Advisor - April/May 2010 - 31
Morningstar Advisor - April/May 2010 - 32
Morningstar Advisor - April/May 2010 - 33
Morningstar Advisor - April/May 2010 - A Decade of Riskier Assets ...
Morningstar Advisor - April/May 2010 - ... but with plenty of Silver Linings
Morningstar Advisor - April/May 2010 - 36
Morningstar Advisor - April/May 2010 - Be Prepared
Morningstar Advisor - April/May 2010 - 38
Morningstar Advisor - April/May 2010 - 39
Morningstar Advisor - April/May 2010 - 40
Morningstar Advisor - April/May 2010 - 41
Morningstar Advisor - April/May 2010 - 42
Morningstar Advisor - April/May 2010 - 43
Morningstar Advisor - April/May 2010 - Facing up to the Economy’s Problems
Morningstar Advisor - April/May 2010 - 45
Morningstar Advisor - April/May 2010 - 46
Morningstar Advisor - April/May 2010 - 47
Morningstar Advisor - April/May 2010 - 48
Morningstar Advisor - April/May 2010 - 49
Morningstar Advisor - April/May 2010 - Levelheaded
Morningstar Advisor - April/May 2010 - 51
Morningstar Advisor - April/May 2010 - 52
Morningstar Advisor - April/May 2010 - 53
Morningstar Advisor - April/May 2010 - Surviving on Conviction
Morningstar Advisor - April/May 2010 - 55
Morningstar Advisor - April/May 2010 - 56
Morningstar Advisor - April/May 2010 - 57
Morningstar Advisor - April/May 2010 - Four Picks for the Present
Morningstar Advisor - April/May 2010 - 59
Morningstar Advisor - April/May 2010 - 60
Morningstar Advisor - April/May 2010 - Pharmaceutical Firms Get the Urge to Merge
Morningstar Advisor - April/May 2010 - 62
Morningstar Advisor - April/May 2010 - 63
Morningstar Advisor - April/May 2010 - Funds That Look Cheaper Than the Market
Morningstar Advisor - April/May 2010 - 65
Morningstar Advisor - April/May 2010 - Finding Dividend Leaders
Morningstar Advisor - April/May 2010 - 67
Morningstar Advisor - April/May 2010 - Mutual Fund Analyst Picks
Morningstar Advisor - April/May 2010 - 69
Morningstar Advisor - April/May 2010 - 70
Morningstar Advisor - April/May 2010 - 71
Morningstar Advisor - April/May 2010 - 50 Most Popular ETFs
Morningstar Advisor - April/May 2010 - 73
Morningstar Advisor - April/May 2010 - Undervalued Stocks with Wide Moats
Morningstar Advisor - April/May 2010 - 75
Morningstar Advisor - April/May 2010 - VAs: Assets Rise as New Sales Slip
Morningstar Advisor - April/May 2010 - 77
Morningstar Advisor - April/May 2010 - 78
Morningstar Advisor - April/May 2010 - New at Morningstar
Morningstar Advisor - April/May 2010 - When You Wish Upon a Star
Morningstar Advisor - April/May 2010 - Cover3
Morningstar Advisor - April/May 2010 - Cover4
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