UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02464
MFS SERIES TRUST IX
(Exact name of registrant as specified in charter)
111 Huntington Avenue, Boston, Massachusetts 02199
(Address of principal executive offices) (Zip code)
Christopher R. Bohane
Massachusetts Financial Services Company
111 Huntington Avenue
Boston, Massachusetts 02199
(Name and address of agents for service)
Registrant’s telephone number, including area code: (617) 954-5000
Date of fiscal year end: October 31*
Date of reporting period: April 30, 2021
* | This Form N-CSR pertains to the following series of the Registrant: MFS Inflation-Adjusted Bond Fund. Each remaining series of the Registrant has a fiscal year end of April 30. |
ITEM 1. | REPORTS TO STOCKHOLDERS. |
Item 1(a):
Bond Fund
Bond Fund
1 | |
2 | |
4 | |
6 | |
12 | |
14 | |
15 | |
16 | |
22 | |
37 | |
38 | |
38 | |
38 | |
38 | |
38 |
back cover |
U.S. Treasury Securities | 83.3% |
Investment Grade Corporates | 2.9% |
Municipal Bonds | 2.7% |
Commercial Mortgage-Backed Securities | 2.1% |
Collateralized Debt Obligations | 1.3% |
Mortgage-Backed Securities | 0.8% |
U.S. Government Agencies | 0.1% |
AAA | 2.3% |
AA | 2.1% |
A | 2.8% |
BBB | 1.5% |
U.S. Government | 89.4% |
Federal Agencies | 0.9% |
Not Rated | (5.8)% |
Cash & Cash Equivalents | 0.8% |
Other | 6.0% |
Average Duration (d) | 7.2 |
Average Effective Maturity (m) | 8.1 yrs. |
(a) | For all securities other than those specifically described below, ratings are assigned to underlying securities utilizing ratings from Moody’s, Fitch, and Standard & Poor’s rating agencies and applying the following hierarchy: If all three agencies provide a rating, the middle rating (after dropping the highest and lowest ratings) is assigned; if two of the three agencies rate a security, the lower of the two is assigned. If none of the 3 rating agencies above assign a rating, but the security is rated by DBRS Morningstar, then the DBRS Morningstar rating is assigned. Ratings are shown in the S&P and Fitch scale (e.g., AAA). Securities rated BBB or higher are considered investment grade. All ratings are subject to change. U.S. Government includes securities issued by the U.S. Department of the Treasury. Federal Agencies includes rated and unrated U.S. Agency fixed-income securities, U.S. Agency mortgage-backed securities, and collateralized mortgage obligations of U.S. Agency mortgage-backed securities. Not Rated includes fixed income securities and fixed income derivatives that have not been rated by any rating agency. The fund may or may not have held all of these instruments on this date. The fund is not rated by these agencies. |
(d) | Duration is a measure of how much a bond’s price is likely to fluctuate with general changes in interest rates, e.g., if rates rise 1.00%, a bond with a 5-year duration is likely to lose about 5.00% of its value due to the interest rate move. |
(i) | For purposes of this presentation, the components include the value of securities, and reflect the impact of the equivalent exposure of derivative positions, if any. These amounts may be negative from time to time. Equivalent exposure is a calculated amount that translates the derivative position into a reasonable approximation of the amount of the underlying asset that the portfolio would have to hold at a given point in time to have the same price sensitivity that results from the portfolio’s ownership of the derivative contract. When dealing with derivatives, equivalent exposure is a more representative measure of the potential impact of a position on portfolio performance than value. The bond component will include any accrued interest amounts. |
(m) | In determining each instrument’s effective maturity for purposes of calculating the fund’s dollar-weighted average effective maturity, MFS uses the instrument’s stated maturity or, if applicable, an earlier date on which MFS believes it is probable that a maturity-shortening device (such as a put, pre-refunding or prepayment) will cause the instrument to be repaid. Such an earlier date can be substantially shorter than the instrument’s stated maturity. |
November 1, 2020 through April 30, 2021
Share Class | Annualized Expense Ratio | Beginning Account Value 11/01/20 | Ending Account Value 4/30/21 | Expenses Paid During Period (p) 11/01/20-4/30/21 | |
A | Actual | 0.66% | $1,000.00 | $1,016.61 | $3.30 |
Hypothetical (h) | 0.66% | $1,000.00 | $1,021.52 | $3.31 | |
B | Actual | 1.41% | $1,000.00 | $1,013.47 | $7.04 |
Hypothetical (h) | 1.41% | $1,000.00 | $1,017.80 | $7.05 | |
C | Actual | 1.51% | $1,000.00 | $1,012.13 | $7.53 |
Hypothetical (h) | 1.51% | $1,000.00 | $1,017.31 | $7.55 | |
I | Actual | 0.51% | $1,000.00 | $1,017.23 | $2.55 |
Hypothetical (h) | 0.51% | $1,000.00 | $1,022.27 | $2.56 | |
R1 | Actual | 1.51% | $1,000.00 | $1,012.15 | $7.53 |
Hypothetical (h) | 1.51% | $1,000.00 | $1,017.31 | $7.55 | |
R2 | Actual | 1.01% | $1,000.00 | $1,014.23 | $5.04 |
Hypothetical (h) | 1.01% | $1,000.00 | $1,019.79 | $5.06 | |
R3 | Actual | 0.76% | $1,000.00 | $1,015.28 | $3.80 |
Hypothetical (h) | 0.76% | $1,000.00 | $1,021.03 | $3.81 | |
R4 | Actual | 0.51% | $1,000.00 | $1,017.24 | $2.55 |
Hypothetical (h) | 0.51% | $1,000.00 | $1,022.27 | $2.56 | |
R6 | Actual | 0.44% | $1,000.00 | $1,017.52 | $2.20 |
Hypothetical (h) | 0.44% | $1,000.00 | $1,022.61 | $2.21 |
(h) | 5% class return per year before expenses. |
(p) | “Expenses Paid During Period” are equal to each class’s annualized expense ratio, as shown above, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Expenses paid do not include any applicable sales charges (loads). If these transaction costs had been included, your costs would have been higher. |
Issuer | Shares/Par | Value ($) | ||
Bonds – 99.1% | ||||
Asset-Backed & Securitized – 3.4% | ||||
Bancorp Commercial Mortgage Trust, 2019-CRE6, “A”, FLR, 1.164% (LIBOR - 1mo. + 1.05%), 9/15/2036 (n) | $ | 2,140,208 | $ 2,138,929 | |
BBCMS Mortgage Trust, 2021-C9, “XA”, 1.771%, 2/15/2054 (i) | 8,190,357 | 1,036,853 | ||
Benchmark Mortgage Trust, 2019-B10, “A4”, 3.717%, 3/15/2062 | 2,400,000 | 2,678,976 | ||
Benchmark Mortgage Trust, 2021-B23, “XA”, 1.387%, 2/15/2054 (i) | 25,619,897 | 2,458,893 | ||
Benchmark Mortgage Trust, 2021-B24, “XA”, 1.274%, 3/15/2054 (i) | 15,514,329 | 1,354,509 | ||
BXMT Ltd., 2021-FL4, “AS”, FLR, 1.42% (LIBOR - 1mo. + 1.3%), 5/15/2038 (n) | 4,000,000 | 4,002,464 | ||
Cantor Commercial Real Estate, 2019-CF3, “A4”, 3.005%, 1/15/2053 | 2,972,000 | 3,148,857 | ||
Citigroup Commercial Mortgage Trust, 2019-C7, “A4”, 3.102%, 12/15/2072 | 2,063,594 | 2,216,770 | ||
Commercial Mortgage Pass-Through Certificates, 2019-BN24, “A3”, 2.96%, 11/15/2062 | 2,302,897 | 2,448,327 | ||
Commercial Mortgage Pass-Through Certificates, 2020-BN28, “A4”, 1.844%, 3/15/2063 | 544,612 | 528,021 | ||
Commercial Mortgage Pass-Through Certificates, 2021-BN31,“XA”, 1.445%, 2/15/2054 (i) | 19,759,502 | 2,053,089 | ||
Commercial Mortgage Trust, 2017-COR2, “A3”, 3.51%, 9/10/2050 | 2,190,172 | 2,404,637 | ||
Dryden Senior Loan Fund, 2018-55A, “A1”, CLO, FLR, 1.203% (LIBOR - 3mo. + 1.02%), 4/15/2031 (n) | 1,331,195 | 1,331,735 | ||
Madison Park Funding Ltd., 2014-13A, “BR2”, FLR, 1.689% (LIBOR - 3mo. + 1.5%), 4/19/2030 (n) | 3,382,623 | 3,399,455 | ||
MF1 CLO Ltd., 2021-FL5, “B”, FLR, 1.564% (LIBOR - 1mo. + 1.45%), 7/15/2036 (n) | 5,757,000 | 5,751,584 | ||
MF1 Multi-Family Housing Mortgage Loan Trust, 2020-FL4, “A”, FLR, 1.814% (LIBOR - 1mo. + 1.7%), 11/15/2035 (n) | 2,577,500 | 2,598,432 | ||
Morgan Stanley Bank of America Merrill Lynch Trust, 2017-C34, “A4”, 3.536%, 11/15/2052 | 467,871 | 517,354 | ||
Morgan Stanley Capital I Trust, 2021-L5, “XA”, 1.425%, 4/15/2031 (i)(w) | 10,300,313 | 1,018,749 | ||
Oaktree CLO Ltd., 15-1A, “A1R”, FLR, 1.058% (LIBOR - 3mo. + 0.87%), 10/20/2027 (n) | 2,398,406 | 2,398,378 | ||
Palmer Square Loan Funding Ltd., 2020-1A, “A2”, FLR, 1.532% (LIBOR - 3mo. + 1.35%), 2/20/2028 (n) | 1,847,360 | 1,837,510 | ||
Symphony CLO Ltd., 2016-17A, “BR”, FLR, 1.383% (LIBOR - 3mo. + 1.2%), 4/15/2028 (n) | 2,866,629 | 2,857,393 |
Issuer | Shares/Par | Value ($) | ||
Bonds – continued | ||||
Asset-Backed & Securitized – continued | ||||
UBS Commercial Mortgage Trust, 2017-C1, “A4”, 3.544%, 11/15/2050 | $ | 1,533,375 | $ 1,693,670 | |
Wells Fargo Commercial Mortgage Trust, 2019-C54, “A4”, 3.146%, 12/15/2052 | 3,297,750 | 3,538,016 | ||
$53,412,601 | ||||
Automotive – 0.8% | ||||
Hyundai Capital America, 2.85%, 11/01/2022 (n) | $ | 800,000 | $ 823,501 | |
Hyundai Capital America, 2.375%, 2/10/2023 (n) | 1,110,000 | 1,139,729 | ||
Hyundai Capital America, 0.8%, 1/08/2024 (n) | 2,925,000 | 2,909,576 | ||
Volkswagen Group of America Finance LLC, 0.875%, 11/22/2023 (n) | 7,310,000 | 7,342,256 | ||
$12,215,062 | ||||
Computer Software - Systems – 0.1% | ||||
Apple, Inc., 3.2%, 5/11/2027 | $ | 1,826,000 | $ 2,009,231 | |
Consumer Services – 0.1% | ||||
Conservation Fund, 3.474%, 12/15/2029 | $ | 1,438,000 | $ 1,504,644 | |
Industrial Revenue - Other – 0.1% | ||||
Howard University, Washington D.C., 2.738%, 10/01/2022 | $ | 268,000 | $ 274,326 | |
Howard University, Washington D.C., 2.801%, 10/01/2023 | 295,000 | 304,134 | ||
Howard University, Washington D.C., AGM, 2.638%, 10/01/2021 | 255,000 | 256,231 | ||
Howard University, Washington D.C., AGM, 2.416%, 10/01/2024 | 325,000 | 334,919 | ||
Howard University, Washington D.C., AGM, 2.516%, 10/01/2025 | 402,000 | 412,486 | ||
$1,582,096 | ||||
Major Banks – 0.4% | ||||
JPMorgan Chase & Co., 1.578% to 4/22/2026, FLR (SOFR + 0.885%) to 4/22/2027 | $ | 4,000,000 | $ 4,017,560 | |
UBS Group AG, 3.491%, 5/23/2023 (n) | 2,334,000 | 2,406,961 | ||
$6,424,521 | ||||
Medical & Health Technology & Services – 0.4% | ||||
CommonSpirit Health, AGM, 3.817%, 10/01/2049 | $ | 2,967,000 | $ 3,195,576 | |
ProMedica Toledo Hospital, “B”, AGM, 5.325%, 11/15/2028 | 2,421,000 | 2,886,361 | ||
ProMedica Toledo Hospital, “B”, AGM, 5.75%, 11/15/2038 | 747,000 | 882,070 | ||
$6,964,007 | ||||
Mortgage-Backed – 0.8% | ||||
Freddie Mac, 3.286%, 11/25/2027 | $ | 2,049,000 | $ 2,288,933 | |
Freddie Mac, 3.85%, 5/25/2028 | 2,860,000 | 3,304,372 | ||
Freddie Mac, 3.854%, 6/25/2028 | 2,093,000 | 2,421,003 | ||
Freddie Mac, 1.765%, 5/25/2030 (i) | 6,326,494 | 859,882 |
Issuer | Shares/Par | Value ($) | ||
Bonds – continued | ||||
Mortgage-Backed – continued | ||||
Freddie Mac, 1.262%, 9/25/2030 (i) | $ | 3,529,812 | $ 352,363 | |
Freddie Mac, 0.423%, 1/25/2031 (i) | 29,860,726 | 836,438 | ||
Freddie Mac, 1.026%, 1/25/2031 (i) | 8,529,316 | 698,885 | ||
Freddie Mac, 0.873%, 2/25/2031 (i) | 11,388,256 | 792,452 | ||
Freddie Mac, 0.529%, 3/25/2031 (i) | 36,664,130 | 1,660,790 | ||
$13,215,118 | ||||
Municipals – 2.7% | ||||
California Earthquake Authority Rev., “B”, 1.227%, 7/01/2021 | $ | 580,000 | $ 580,937 | |
California Earthquake Authority Rev., “B”, 1.327%, 7/01/2022 | 1,855,000 | 1,876,692 | ||
California Earthquake Authority Rev., “B”, 1.477%, 7/01/2023 | 1,310,000 | 1,339,113 | ||
Chicago, IL, Board of Education, “E”, BAM, 6.138%, 12/01/2039 | 410,000 | 532,670 | ||
Chicago, IL, Transit Authority Sales Tax Receipts Refunding Rev., Taxable, “B”, 1.838%, 12/01/2023 | 262,000 | 266,823 | ||
Chicago, IL, Transit Authority Sales Tax Receipts Refunding Rev., Taxable, “B”, 2.064%, 12/01/2024 | 523,000 | 534,749 | ||
Chicago, IL, Transit Authority Sales Tax Receipts Refunding Rev., Taxable, “B”, 2.214%, 12/01/2025 | 392,000 | 399,573 | ||
Chicago, IL, Transit Authority Sales Tax Receipts Refunding Rev., Taxable, “B”, 2.481%, 12/01/2026 | 915,000 | 933,959 | ||
Colorado Health Facilities Authority Rev. (Covenant Living Communities and Services), “B”, 2.8%, 12/01/2026 | 985,000 | 1,004,118 | ||
Florida State Board of Administration Finance Corp. Rev., “A”, 1.705%, 7/01/2027 | 2,436,000 | 2,457,697 | ||
Illinois Sales Tax Securitization Corp., Second Lien, “B”, BAM, 3.411%, 1/01/2043 | 2,335,000 | 2,454,781 | ||
Massachusetts Educational Financing Authority, Education Loan Rev., “A”, 2.562%, 7/01/2026 | 340,000 | 354,615 | ||
Massachusetts Educational Financing Authority, Education Loan Rev., “A”, 2.682%, 7/01/2027 | 1,660,000 | 1,730,888 | ||
Michigan Finance Authority Hospital Rev. (Trinity Health Credit Group), 3.384%, 12/01/2040 | 4,200,000 | 4,492,846 | ||
Michigan Finance Authority Tobacco Settlement Asset-Backed Rev. (2006 Sold Tobacco Receipts), “A-1”, 2.326%, 6/01/2030 | 1,245,000 | 1,285,021 | ||
New Jersey Economic Development Authority State Pension Funding Rev., Capital Appreciation, “B”, AGM, 0%, 2/15/2023 | 8,796,000 | 8,689,228 | ||
New Jersey Turnpike Authority, Turnpike Rev., “B”, 1.047%, 1/01/2026 | 745,000 | 740,335 | ||
Philadelphia, PA, School District, “A”, AGM, 5.995%, 9/01/2030 | 1,925,000 | 2,416,008 | ||
Port Authority of NY & NJ, “AAA”, 1.086%, 7/01/2023 | 2,140,000 | 2,173,315 | ||
Texas Transportation Commission, Central Texas Turnpike System First Tier Refunding Rev., Taxable, “B”, 1.98%, 8/15/2042 | 1,910,000 | 1,949,274 |
Issuer | Shares/Par | Value ($) | ||
Bonds – continued | ||||
Municipals – continued | ||||
University of California, General Taxable Rev., “BG”, 1.614%, 5/15/2030 | $ | 4,235,000 | $ 4,092,502 | |
West Virginia Tobacco Settlement Financing Authority Asset-Backed Refunding, “A-1”, 1.497%, 6/01/2024 | 1,020,000 | 1,037,811 | ||
West Virginia Tobacco Settlement Financing Authority Asset-Backed Refunding, “A-1”, 1.647%, 6/01/2025 | 835,000 | 847,576 | ||
$42,190,531 | ||||
Network & Telecom – 0.1% | ||||
Verizon Communications, Inc., 0.75%, 3/22/2024 | $ | 2,214,000 | $ 2,222,538 | |
Other Banks & Diversified Financials – 0.1% | ||||
ING Groep N.V., 3.15%, 3/29/2022 | $ | 2,236,000 | $ 2,292,683 | |
Specialty Stores – 0.1% | ||||
Ross Stores, Inc., 0.875%, 4/15/2026 | $ | 1,216,000 | $ 1,189,232 | |
U.S. Government Agencies and Equivalents – 0.1% | ||||
Tennessee Valley Authority, 0.75%, 5/15/2025 | $ | 1,985,000 | $ 1,991,724 | |
U.S. Treasury Inflation Protected Securities – 89.3% | ||||
U.S. Treasury Bonds, 2.375%, 1/15/2025 | $ | 27,388,735 | $ 32,236,862 | |
U.S. Treasury Bonds, 2%, 1/15/2026 | 29,308,576 | 34,895,905 | ||
U.S. Treasury Bonds, 2.375%, 1/15/2027 | 38,418,826 | 47,499,776 | ||
U.S. Treasury Bonds, 1.75%, 1/15/2028 | 54,997,786 | 66,829,471 | ||
U.S. Treasury Bonds, 3.625%, 4/15/2028 | 37,026,617 | 50,284,605 | ||
U.S. Treasury Bonds, 2.5%, 1/15/2029 | 13,644,493 | 17,650,254 | ||
U.S. Treasury Bonds, 3.875%, 4/15/2029 (f) | 75,924,758 | 107,406,840 | ||
U.S. Treasury Bonds, 3.375%, 4/15/2032 | 8,011,160 | 11,797,163 | ||
U.S. Treasury Bonds, 2.125%, 2/15/2040 | 2,437,295 | 3,543,694 | ||
U.S. Treasury Bonds, 2.125%, 2/15/2041 | 16,503,701 | 24,183,080 | ||
U.S. Treasury Bonds, 0.75%, 2/15/2042 | 46,675,890 | 54,814,390 | ||
U.S. Treasury Bonds, 0.625%, 2/15/2043 | 41,507,582 | 47,609,412 | ||
U.S. Treasury Bonds, 1.375%, 2/15/2044 | 7,144,628 | 9,472,214 | ||
U.S. Treasury Bonds, 0.75%, 2/15/2045 | 21,690,434 | 25,538,226 | ||
U.S. Treasury Bonds, 1%, 2/15/2046 | 2,849,620 | 3,549,743 | ||
U.S. Treasury Bonds, 0.875%, 2/15/2047 | 8,742,361 | 10,707,571 | ||
U.S. Treasury Bonds, 1%, 2/15/2048 | 20,476,881 | 25,908,854 | ||
U.S. Treasury Bonds, 0.25%, 2/15/2050 | 33,305,183 | 35,500,810 | ||
U.S. Treasury Notes, 0.125%, 1/15/2023 | 3,505,469 | 3,673,143 | ||
U.S. Treasury Notes, 0.375%, 7/15/2023 | 55,026,646 | 58,939,413 | ||
U.S. Treasury Notes, 0.625%, 1/15/2024 | 105,527,335 | 114,697,770 | ||
U.S. Treasury Notes, 0.5%, 4/15/2024 | 53,405,464 | 58,104,867 | ||
U.S. Treasury Notes, 0.125%, 7/15/2024 | 57,792,108 | 62,808,283 | ||
U.S. Treasury Notes, 0.25%, 1/15/2025 | 98,658,803 | 107,874,666 |
Issuer | Shares/Par | Value ($) | ||
Bonds – continued | ||||
U.S. Treasury Inflation Protected Securities – continued | ||||
U.S. Treasury Notes, 0.375%, 7/15/2025 | $ | 84,615,877 | $ 93,867,433 | |
U.S. Treasury Notes, 0.625%, 1/15/2026 | 32,970,918 | 37,000,840 | ||
U.S. Treasury Notes, 0.125%, 7/15/2026 | 9,925,946 | 10,964,552 | ||
U.S. Treasury Notes, 0.375%, 1/15/2027 | 39,649,069 | 44,231,170 | ||
U.S. Treasury Notes, 0.375%, 7/15/2027 | 30,912,104 | 34,719,364 | ||
U.S. Treasury Notes, 0.5%, 1/15/2028 | 56,566,016 | 63,720,733 | ||
U.S. Treasury Notes, 0.875%, 1/15/2029 | 13,331,713 | 15,474,335 | ||
U.S. Treasury Notes, 0.25%, 7/15/2029 | 817,817 | 910,769 | ||
U.S. Treasury Notes, 0.125%, 1/15/2030 | 44,466,690 | 48,719,975 | ||
U.S. Treasury Notes, 0.125%, 7/15/2030 | 53,085,368 | 58,344,137 | ||
$ 1,423,480,320 | ||||
Utilities - Electric Power – 0.6% | ||||
Enel Finance International N.V., 2.875%, 5/25/2022 (n) | $ | 5,958,000 | $ 6,101,907 | |
Virginia Electric & Power Co., 3.5%, 3/15/2027 | 2,891,000 | 3,188,625 | ||
$9,290,532 | ||||
Total Bonds (Identified Cost, $1,461,172,676) | $ 1,579,984,840 | |||
Investment Companies (h) – 0.6% | ||||
Money Market Funds – 0.6% | ||||
MFS Institutional Money Market Portfolio, 0.04% (v) (Identified Cost, $10,357,374) | 10,357,374 | $ 10,357,374 | ||
Other Assets, Less Liabilities – 0.3% | 4,194,999 | |||
Net Assets – 100.0% | $ 1,594,537,213 |
(f) | All or a portion of the security has been segregated as collateral for open futures contracts. | |||
(h) | An affiliated issuer, which may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated issuers and in unaffiliated issuers were $10,357,374 and $1,579,984,840, respectively. | |||
(i) | Interest only security for which the fund receives interest on notional principal (Par amount). Par amount shown is the notional principal and does not reflect the cost of the security. | |||
(n) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $47,039,810, representing 3.0% of net assets. | |||
(v) | Affiliated issuer that is available only to investment companies managed by MFS. The rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end. | |||
(w) | When-issued security. |
The following abbreviations are used in this report and are defined: | |
AGM | Assured Guaranty Municipal |
BAM | Build America Mutual |
CLO | Collateralized Loan Obligation |
FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate reported may not be the current rate. All reference rates are USD unless otherwise noted. |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise indicated. A list of abbreviations is shown below: | |
EUR | Euro |
Forward Foreign Currency Exchange Contracts | ||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||
Asset Derivatives | ||||||
EUR | 19,500,644 | USD | 23,407,498 | Citibank N.A. | 7/16/2021 | $72,405 |
Liability Derivatives | ||||||
USD | 22,982,805 | EUR | 19,261,406 | JPMorgan Chase Bank N.A. | 7/16/2021 | $(209,041) |
Futures Contracts | ||||||
Description | Long/ Short | Currency | Contracts | Notional Amount | Expiration Date | Value/Unrealized Appreciation (Depreciation) |
Asset Derivatives | ||||||
Interest Rate Futures | ||||||
U.S. Treasury Note 10 yr | Short | USD | 485 | $64,035,156 | June – 2021 | $1,021,271 |
Liability Derivatives | ||||||
Interest Rate Futures | ||||||
U.S. Treasury Ultra Note 10 yr | Short | USD | 223 | $32,456,953 | June – 2021 | $(58,926) |
Assets | |
Investments in unaffiliated issuers, at value (identified cost, $1,461,172,676) | $1,579,984,840 |
Investments in affiliated issuers, at value (identified cost, $10,357,374) | 10,357,374 |
Restricted cash for | |
Forward foreign currency exchange contracts | 350,000 |
Receivables for | |
Forward foreign currency exchange contracts | 72,405 |
Investments sold | 596,147 |
Fund shares sold | 1,689,066 |
Interest | 3,144,192 |
Receivable from investment adviser | 10,122 |
Other assets | 8,608 |
Total assets | $1,596,212,754 |
Liabilities | |
Payables for | |
Forward foreign currency exchange contracts | $209,041 |
Net daily variation margin on open futures contracts | 50,587 |
Fund shares reacquired | 55,134 |
When-issued investments purchased | 1,022,828 |
Payable to affiliates | |
Administrative services fee | 1,196 |
Shareholder servicing costs | 269,513 |
Distribution and service fees | 1,005 |
Payable for independent Trustees' compensation | 1,398 |
Accrued expenses and other liabilities | 64,839 |
Total liabilities | $1,675,541 |
Net assets | $1,594,537,213 |
Net assets consist of | |
Paid-in capital | $1,498,882,061 |
Total distributable earnings (loss) | 95,655,152 |
Net assets | $1,594,537,213 |
Shares of beneficial interest outstanding | 140,985,909 |
Net assets | Shares outstanding | Net asset value per share (a) | |
Class A | $77,754,316 | 6,899,503 | $11.27 |
Class B | 1,091,420 | 97,573 | 11.19 |
Class C | 4,449,930 | 397,761 | 11.19 |
Class I | 10,079,591 | 893,082 | 11.29 |
Class R1 | 529,461 | 47,437 | 11.16 |
Class R2 | 613,127 | 54,553 | 11.24 |
Class R3 | 1,707,133 | 151,547 | 11.26 |
Class R4 | 101,129 | 8,971 | 11.27 |
Class R6 | 1,498,211,106 | 132,435,482 | 11.31 |
(a) | Maximum offering price per share was equal to the net asset value per share for all share classes, except for Class A, for which the maximum offering price per share was $11.77 [100 / 95.75 x $11.27]. On sales of $50,000 or more, the maximum offering price of Class A shares is reduced. A contingent deferred sales charge may be imposed on redemptions of Class A, Class B, and Class C shares. Redemption price per share was equal to the net asset value per share for Classes I, R1, R2, R3, R4, and R6. |
Net investment income (loss) | |
Income | |
Interest | $16,579,070 |
Dividends from affiliated issuers | 16,249 |
Total investment income | $16,595,319 |
Expenses | |
Management fee | $3,331,803 |
Distribution and service fees | 123,260 |
Shareholder servicing costs | 504,756 |
Administrative services fee | 98,178 |
Independent Trustees' compensation | 11,196 |
Custodian fee | 41,752 |
Shareholder communications | 8,932 |
Audit and tax fees | 21,543 |
Legal fees | 4,935 |
Miscellaneous | 97,256 |
Total expenses | $4,243,611 |
Reduction of expenses by investment adviser and distributor | (869,829) |
Net expenses | $3,373,782 |
Net investment income (loss) | $13,221,537 |
Realized and unrealized gain (loss) | |
Realized gain (loss) (identified cost basis) | |
Unaffiliated issuers | $18,590,594 |
Futures contracts | 2,592,292 |
Forward foreign currency exchange contracts | (980,653) |
Foreign currency | 12,725 |
Net realized gain (loss) | $20,214,958 |
Change in unrealized appreciation or depreciation | |
Unaffiliated issuers | $(8,348,199) |
Futures contracts | 508,443 |
Forward foreign currency exchange contracts | (608,076) |
Translation of assets and liabilities in foreign currencies | 971 |
Net unrealized gain (loss) | $(8,446,861) |
Net realized and unrealized gain (loss) | $11,768,097 |
Change in net assets from operations | $24,989,634 |
Six months ended | Year ended | |
4/30/21 (unaudited) | 10/31/20 | |
Change in net assets | ||
From operations | ||
Net investment income (loss) | $13,221,537 | $16,633,175 |
Net realized gain (loss) | 20,214,958 | 10,394,115 |
Net unrealized gain (loss) | (8,446,861) | 74,029,945 |
Change in net assets from operations | $24,989,634 | $101,057,235 |
Total distributions to shareholders | $(16,020,907) | $(17,266,830) |
Change in net assets from fund share transactions | $224,083,107 | $64,010,842 |
Total change in net assets | $233,051,834 | $147,801,247 |
Net assets | ||
At beginning of period | 1,361,485,379 | 1,213,684,132 |
At end of period | $1,594,537,213 | $1,361,485,379 |
Class A | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.20 | $10.46 | $9.83 | $10.32 | $10.61 | $10.19 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.09 | $0.12 | $0.17 | $0.25 | $0.17 | $0.07 |
Net realized and unrealized gain (loss) | 0.10 | 0.75 | 0.69 | (0.46) | (0.25) | 0.45 |
Total from investment operations | $0.19 | $0.87 | $0.86 | $(0.21) | $(0.08) | $0.52 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.12) | $(0.13) | $(0.23) | $(0.28) | $(0.21) | $(0.10) |
Net asset value, end of period (x) | $11.27 | $11.20 | $10.46 | $9.83 | $10.32 | $10.61 |
Total return (%) (r)(s)(t)(x) | 1.66(n) | 8.42 | 8.80 | (2.07) | (0.78) | 5.09 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.87(a) | 0.93 | 0.95 | 0.96 | 0.97 | 0.99 |
Expenses after expense reductions (f) | 0.66(a) | 0.76 | 0.80 | 0.80 | 0.80 | 0.80 |
Net investment income (loss) | 1.60(a)(l) | 1.11 | 1.69 | 2.44 | 1.61 | 0.71 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $77,754 | $65,862 | $46,796 | $44,085 | $47,052 | $48,046 |
Class B | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.13 | $10.42 | $9.79 | $10.27 | $10.56 | $10.14 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.02 | $0.09 | $0.17 | $0.09 | $(0.01) |
Net realized and unrealized gain (loss) | 0.10 | 0.77 | 0.69 | (0.44) | (0.25) | 0.45 |
Total from investment operations | $0.14 | $0.79 | $0.78 | $(0.27) | $(0.16) | $0.44 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.08) | $(0.08) | $(0.15) | $(0.21) | $(0.13) | $(0.02) |
Net asset value, end of period (x) | $11.19 | $11.13 | $10.42 | $9.79 | $10.27 | $10.56 |
Total return (%) (r)(s)(t)(x) | 1.26(n) | 7.65 | 8.03 | (2.72) | (1.53) | 4.33 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.63(a) | 1.69 | 1.70 | 1.71 | 1.72 | 1.74 |
Expenses after expense reductions (f) | 1.41(a) | 1.53 | 1.55 | 1.55 | 1.55 | 1.55 |
Net investment income (loss) | 0.64(a)(l) | 0.21 | 0.91 | 1.73 | 0.86 | (0.08) |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $1,091 | $1,454 | $3,404 | $4,774 | $7,029 | $10,599 |
Class C | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.13 | $10.42 | $9.79 | $10.28 | $10.57 | $10.15 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.02 | $0.08 | $0.16 | $0.08 | $(0.02) |
Net realized and unrealized gain (loss) | 0.10 | 0.77 | 0.69 | (0.45) | (0.25) | 0.45 |
Total from investment operations | $0.14 | $0.79 | $0.77 | $(0.29) | $(0.17) | $0.43 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.08) | $(0.08) | $(0.14) | $(0.20) | $(0.12) | $(0.01) |
Net asset value, end of period (x) | $11.19 | $11.13 | $10.42 | $9.79 | $10.28 | $10.57 |
Total return (%) (r)(s)(t)(x) | 1.21(n) | 7.58 | 7.92 | (2.91) | (1.63) | 4.22 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.62(a) | 1.68 | 1.70 | 1.71 | 1.72 | 1.74 |
Expenses after expense reductions (f) | 1.51(a) | 1.62 | 1.65 | 1.65 | 1.65 | 1.65 |
Net investment income (loss) | 0.72(a)(l) | 0.17 | 0.76 | 1.61 | 0.78 | (0.16) |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $4,450 | $4,771 | $5,374 | $7,185 | $10,451 | $12,199 |
Class I | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.22 | $10.47 | $9.84 | $10.33 | $10.62 | $10.20 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.11 | $0.15 | $0.17 | $0.27 | $0.20 | $0.12 |
Net realized and unrealized gain (loss) | 0.08 | 0.74 | 0.70 | (0.46) | (0.27) | 0.41 |
Total from investment operations | $0.19 | $0.89 | $0.87 | $(0.19) | $(0.07) | $0.53 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.12) | $(0.14) | $(0.24) | $(0.30) | $(0.22) | $(0.11) |
Net asset value, end of period (x) | $11.29 | $11.22 | $10.47 | $9.84 | $10.33 | $10.62 |
Total return (%) (r)(s)(t)(x) | 1.72(n) | 8.61 | 8.96 | (1.91) | (0.63) | 5.24 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.62(a) | 0.68 | 0.70 | 0.70 | 0.72 | 0.73 |
Expenses after expense reductions (f) | 0.51(a) | 0.61 | 0.65 | 0.65 | 0.65 | 0.65 |
Net investment income (loss) | 1.98(a)(l) | 1.34 | 1.72 | 2.69 | 1.97 | 1.19 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $10,080 | $5,633 | $4,503 | $5,332 | $7,569 | $15,502 |
Class R1 | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.10 | $10.41 | $9.78 | $10.26 | $10.55 | $10.13 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.04 | $0.02 | $0.09 | $0.17 | $0.08 | $(0.04) |
Net realized and unrealized gain (loss) | 0.09 | 0.75 | 0.68 | (0.45) | (0.25) | 0.47 |
Total from investment operations | $0.13 | $0.77 | $0.77 | $(0.28) | $(0.17) | $0.43 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.07) | $(0.08) | $(0.14) | $(0.20) | $(0.12) | $(0.01) |
Net asset value, end of period (x) | $11.16 | $11.10 | $10.41 | $9.78 | $10.26 | $10.55 |
Total return (%) (r)(s)(t)(x) | 1.21(n) | 7.40 | 7.93 | (2.82) | (1.63) | 4.23 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.62(a) | 1.68 | 1.70 | 1.71 | 1.72 | 1.74 |
Expenses after expense reductions (f) | 1.51(a) | 1.61 | 1.65 | 1.65 | 1.65 | 1.65 |
Net investment income (loss) | 0.73(a)(l) | 0.20 | 0.86 | 1.68 | 0.82 | (0.34) |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $529 | $454 | $332 | $305 | $321 | $331 |
Class R2 | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.18 | $10.45 | $9.82 | $10.30 | $10.59 | $10.17 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.07 | $0.08 | $0.14 | $0.21 | $0.13 | $0.05 |
Net realized and unrealized gain (loss) | 0.09 | 0.76 | 0.68 | (0.44) | (0.25) | 0.43 |
Total from investment operations | $0.16 | $0.84 | $0.82 | $(0.23) | $(0.12) | $0.48 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.10) | $(0.11) | $(0.19) | $(0.25) | $(0.17) | $(0.06) |
Net asset value, end of period (x) | $11.24 | $11.18 | $10.45 | $9.82 | $10.30 | $10.59 |
Total return (%) (r)(s)(t)(x) | 1.42(n) | 8.08 | 8.43 | (2.32) | (1.13) | 4.73 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 1.12(a) | 1.18 | 1.20 | 1.21 | 1.22 | 1.24 |
Expenses after expense reductions (f) | 1.01(a) | 1.11 | 1.15 | 1.15 | 1.15 | 1.15 |
Net investment income (loss) | 1.18(a)(l) | 0.71 | 1.34 | 2.09 | 1.28 | 0.52 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $613 | $586 | $643 | $603 | $941 | $1,438 |
Class R3 | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.20 | $10.46 | $9.83 | $10.32 | $10.60 | $10.19 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.08 | $0.10 | $0.16 | $0.24 | $0.16 | $0.08 |
Net realized and unrealized gain (loss) | 0.09 | 0.76 | 0.69 | (0.46) | (0.24) | 0.42 |
Total from investment operations | $0.17 | $0.86 | $0.85 | $(0.22) | $(0.08) | $0.50 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.11) | $(0.12) | $(0.22) | $(0.27) | $(0.20) | $(0.09) |
Net asset value, end of period (x) | $11.26 | $11.20 | $10.46 | $9.83 | $10.32 | $10.60 |
Total return (%) (r)(s)(t)(x) | 1.53(n) | 8.35 | 8.70 | (2.16) | (0.79) | 4.89 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.87(a) | 0.93 | 0.95 | 0.96 | 0.97 | 0.99 |
Expenses after expense reductions (f) | 0.76(a) | 0.86 | 0.90 | 0.90 | 0.90 | 0.90 |
Net investment income (loss) | 1.46(a)(l) | 0.96 | 1.57 | 2.36 | 1.55 | 0.72 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $1,707 | $1,609 | $1,590 | $1,873 | $1,910 | $2,278 |
Class R4 | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.20 | $10.45 | $9.83 | $10.32 | $10.61 | $10.20 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.13 | $0.16 | $0.27 | $0.18 | $0.05 |
Net realized and unrealized gain (loss) | 0.09 | 0.76 | 0.70 | (0.46) | (0.25) | 0.47 |
Total from investment operations | $0.19 | $0.89 | $0.86 | $(0.19) | $(0.07) | $0.52 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.12) | $(0.14) | $(0.24) | $(0.30) | $(0.22) | $(0.11) |
Net asset value, end of period (x) | $11.27 | $11.20 | $10.45 | $9.83 | $10.32 | $10.61 |
Total return (%) (r)(s)(t)(x) | 1.72(n) | 8.63 | 8.86 | (1.92) | (0.63) | 5.14 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.62(a) | 0.68 | 0.70 | 0.72 | 0.72 | 0.73 |
Expenses after expense reductions (f) | 0.51(a) | 0.62 | 0.65 | 0.65 | 0.65 | 0.65 |
Net investment income (loss) | 1.79(a)(l) | 1.22 | 1.58 | 2.60 | 1.76 | 0.51 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $101 | $87 | $90 | $140 | $725 | $704 |
Class R6 | Six months ended | Year ended | ||||
4/30/21 (unaudited) | 10/31/20 | 10/31/19 | 10/31/18 | 10/31/17 | 10/31/16 | |
Net asset value, beginning of period | $11.24 | $10.49 | $9.86 | $10.35 | $10.64 | $10.22 |
Income (loss) from investment operations | ||||||
Net investment income (loss) (d) | $0.10 | $0.15 | $0.20 | $0.27 | $0.19 | $0.10 |
Net realized and unrealized gain (loss) | 0.10 | 0.75 | 0.68 | (0.45) | (0.25) | 0.44 |
Total from investment operations | $0.20 | $0.90 | $0.88 | $(0.18) | $(0.06) | $0.54 |
Less distributions declared to shareholders | ||||||
From net investment income | $(0.13) | $(0.15) | $(0.25) | $(0.31) | $(0.23) | $(0.12) |
Net asset value, end of period (x) | $11.31 | $11.24 | $10.49 | $9.86 | $10.35 | $10.64 |
Total return (%) (r)(s)(t)(x) | 1.75(n) | 8.66 | 9.03 | (1.82) | (0.53) | 5.32 |
Ratios (%) (to average net assets) and Supplemental data: | ||||||
Expenses before expense reductions (f) | 0.55(a) | 0.60 | 0.62 | 0.62 | 0.63 | 0.65 |
Expenses after expense reductions (f) | 0.44(a) | 0.53 | 0.57 | 0.57 | 0.56 | 0.56 |
Net investment income (loss) | 1.80(a)(l) | 1.34 | 1.95 | 2.68 | 1.86 | 0.99 |
Portfolio turnover | 27(n) | 36 | 38 | 23 | 20 | 23 |
Net assets at end of period (000 omitted) | $1,498,211 | $1,281,030 | $1,150,953 | $1,108,604 | $1,148,352 | $1,147,895 |
(a) | Annualized. |
(d) | Per share data is based on average shares outstanding. |
(f) | Ratios do not reflect reductions from fees paid indirectly, if applicable. |
(l) | Recognition of net investment income by the fund may be affected by inflation/deflation adjustments through period end and the actual annual net investment income ratio may differ. |
(n) | Not annualized. |
(r) | Certain expenses have been reduced without which performance would have been lower. |
(s) | From time to time the fund may receive proceeds from litigation settlements, without which performance would be lower. |
(t) | Total returns do not include any applicable sales charges. |
(x) | The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. |
Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
U.S. Treasury Bonds & U.S. Government Agencies & Equivalents | $— | $1,425,472,044 | $— | $1,425,472,044 |
Municipal Bonds | — | 42,190,531 | — | 42,190,531 |
U.S. Corporate Bonds | — | 27,550,739 | — | 27,550,739 |
Residential Mortgage-Backed Securities | — | 13,215,118 | — | 13,215,118 |
Commercial Mortgage-Backed Securities | — | 33,238,114 | — | 33,238,114 |
Asset-Backed Securities (including CDOs) | — | 20,174,487 | — | 20,174,487 |
Foreign Bonds | — | 18,143,807 | — | 18,143,807 |
Mutual Funds | 10,357,374 | — | — | 10,357,374 |
Total | $10,357,374 | $1,579,984,840 | $— | $1,590,342,214 |
Other Financial Instruments | ||||
Futures Contracts – Assets | $1,021,271 | $— | $— | $1,021,271 |
Futures Contracts – Liabilities | (58,926) | — | — | (58,926) |
Forward Foreign Currency Exchange Contracts – Assets | — | 72,405 | — | 72,405 |
Forward Foreign Currency Exchange Contracts – Liabilities | — | (209,041) | — | (209,041) |
Fair Value (a) | |||
Risk | Derivative Contracts | Asset Derivatives | Liability Derivatives |
Interest Rate | Interest Rate Futures | $1,021,271 | $(58,926) |
Foreign Exchange | Forward Foreign Currency Exchange Contracts | 72,405 | (209,041) |
Total | $1,093,676 | $(267,967) |
Risk | Futures Contracts | Forward Foreign Currency Exchange Contracts |
Interest Rate | $2,592,292 | $ — |
Foreign Exchange | — | (980,653) |
Total | $2,592,292 | $(980,653) |
Risk | Futures Contracts | Forward Foreign Currency Exchange Contracts |
Interest Rate | $508,443 | $ — |
Foreign Exchange | — | (608,076) |
Total | $508,443 | $(608,076) |
Year ended 10/31/20 | |
Ordinary income (including any short-term capital gains) | $17,266,830 |
As of 4/30/21 | |
Cost of investments | $1,487,102,013 |
Gross appreciation | 104,999,465 |
Gross depreciation | (1,759,264) |
Net unrealized appreciation (depreciation) | $ 103,240,201 |
As of 10/31/20 | |
Undistributed ordinary income | 8,158,229 |
Capital loss carryforwards | (36,349,837) |
Other temporary differences | (723,185) |
Net unrealized appreciation (depreciation) | 115,601,218 |
Short-Term | $(2,519,251) |
Long-Term | (33,830,586) |
Total | $(36,349,837) |
Six months ended 4/30/21 | Year ended 10/31/20 | |
Class A | $712,672 | $603,498 |
Class B | 9,709 | 23,130 |
Class C | 29,974 | 35,381 |
Class I | 68,290 | 57,352 |
Class R1 | 3,165 | 2,312 |
Class R2 | 5,270 | 6,410 |
Class R3 | 16,230 | 19,549 |
Class R4 | 975 | 1,251 |
Class R6 | 15,174,622 | 16,517,947 |
Total | $16,020,907 | $17,266,830 |
Up to $1 billion | 0.50% |
In excess of $1 billion and up to $2.5 billion | 0.35% |
In excess of $2.5 billion and up to $5 billion | 0.30% |
In excess of $5 billion | 0.29% |
Classes | ||||||||
A | B | C | I | R1 | R2 | R3 | R4 | R6 |
0.67% | 1.42% | 1.52% | 0.52% | 1.52% | 1.02% | 0.77% | 0.52% | 0.44% |
Distribution Fee Rate (d) | Service Fee Rate (d) | Total Distribution Plan (d) | Annual Effective Rate (e) | Distribution and Service Fee | |
Class A | — | 0.25% | 0.25% | 0.15% | $ 89,493 |
Class B | 0.75% | 0.25% | 1.00% | 0.90% | 6,240 |
Class C | 0.75% | 0.25% | 1.00% | 1.00% | 21,462 |
Class R1 | 0.75% | 0.25% | 1.00% | 1.00% | 2,476 |
Class R2 | 0.25% | 0.25% | 0.50% | 0.50% | 1,500 |
Class R3 | — | 0.25% | 0.25% | 0.25% | 2,089 |
Total Distribution and Service Fees | $123,260 |
(d) | In accordance with the distribution plan for certain classes, the fund pays distribution and/or service fees equal to these annual percentage rates of each class’s average daily net assets. The distribution and service fee rates disclosed by class represent the current rates in effect at the end of the reporting period. Any rate changes, if applicable, are detailed below. |
(e) | The annual effective rates represent actual fees incurred under the distribution plan for the six months ended April 30, 2021 based on each class's average daily net assets. 0.10% of the Class A and Class B service fee is currently being waived under a written waiver arrangement. For the six months ended April 30, 2021, this waiver amounted to $35,797 and $624, respectively, and is included in the reduction of total expenses in the Statement of Operations. These written waiver agreements will continue until modified by the fund’s Board of Trustees, but such agreements will continue at least until February 28, 2022. MFD has voluntarily agreed to rebate a portion of each class's 0.25% service fee attributable to accounts for which there is no financial intermediary specified on the account except for accounts attributable to MFS or its affiliates' seed money. For the six months ended April 30, 2021, this rebate amounted to $430 for Class A and is included in the reduction of total expenses in the Statement of Operations. |
Amount | |
Class A | $1,710 |
Class B | 168 |
Class C | 2,693 |
Purchases | Sales | |
U.S. Government securities | $580,087,131 | $319,963,893 |
Non-U.S. Government securities | 51,560,639 | 65,086,767 |
Six months ended 4/30/21 | Year ended 10/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Shares sold | |||||
Class A | 1,655,270 | $18,599,252 | 2,590,728 | $28,222,853 | |
Class B | 1,338 | 14,976 | 585 | 6,408 | |
Class C | 154,635 | 1,729,470 | 163,815 | 1,777,268 | |
Class I | 490,323 | 5,494,256 | 302,343 | 3,278,933 | |
Class R1 | 6,833 | 76,206 | 25,412 | 272,409 | |
Class R2 | 3,801 | 42,681 | 17,551 | 192,538 | |
Class R3 | 17,064 | 191,447 | 25,565 | 278,689 | |
Class R4 | 1,142 | 12,947 | 2,046 | 21,667 | |
Class R6 | 17,951,637 | 202,542,912 | 22,396,116 | 244,113,808 | |
20,282,043 | $228,704,147 | 25,524,161 | $278,164,573 | ||
Shares issued to shareholders in reinvestment of distributions | |||||
Class A | 59,355 | $668,631 | 51,452 | $544,855 | |
Class B | 818 | 9,168 | 2,077 | 21,734 | |
Class C | 2,645 | 29,649 | 3,310 | 34,650 | |
Class I | 5,994 | 67,581 | 5,329 | 56,474 | |
Class R1 | 283 | 3,165 | 214 | 2,234 | |
Class R2 | 446 | 5,012 | 583 | 6,135 | |
Class R3 | 1,441 | 16,230 | 1,849 | 19,547 | |
Class R4 | 87 | 975 | 118 | 1,251 | |
Class R6 | 1,339,130 | 15,140,913 | 1,551,875 | 16,480,520 | |
1,410,199 | $15,941,324 | 1,616,807 | $17,167,400 | ||
Shares reacquired | |||||
Class A | (694,377) | $(7,785,664) | (1,236,492) | $(13,196,727) | |
Class B | (35,236) | (392,602) | (198,838) | (2,123,730) | |
Class C | (188,320) | (2,103,170) | (253,947) | (2,722,298) | |
Class I | (105,350) | (1,184,844) | (235,735) | (2,508,696) | |
Class R1 | (570) | (6,268) | (16,604) | (173,980) | |
Class R2 | (2,154) | (23,974) | (27,238) | (298,217) | |
Class R3 | (10,628) | (119,001) | (35,750) | (398,515) | |
Class R4 | (9) | (106) | (3,031) | (31,713) | |
Class R6 | (792,118) | (8,946,735) | (19,726,709) | (209,867,255) | |
(1,828,762) | $(20,562,364) | (21,734,344) | $(231,321,131) |
Six months ended 4/30/21 | Year ended 10/31/20 | ||||
Shares | Amount | Shares | Amount | ||
Net change | |||||
Class A | 1,020,248 | $11,482,219 | 1,405,688 | $15,570,981 | |
Class B | (33,080) | (368,458) | (196,176) | (2,095,588) | |
Class C | (31,040) | (344,051) | (86,822) | (910,380) | |
Class I | 390,967 | 4,376,993 | 71,937 | 826,711 | |
Class R1 | 6,546 | 73,103 | 9,022 | 100,663 | |
Class R2 | 2,093 | 23,719 | (9,104) | (99,544) | |
Class R3 | 7,877 | 88,676 | (8,336) | (100,279) | |
Class R4 | 1,220 | 13,816 | (867) | (8,795) | |
Class R6 | 18,498,649 | 208,737,090 | 4,221,282 | 50,727,073 | |
19,863,480 | $224,083,107 | 5,406,624 | $64,010,842 |
Affiliated Issuers | Beginning Value | Purchases | Sales Proceeds | Realized Gain (Loss) | Change in Unrealized Appreciation or Depreciation | Ending Value |
MFS Institutional Money Market Portfolio | $47,052,229 | $213,675,062 | $250,369,917 | $— | $— | $10,357,374 |
Affiliated Issuers | Dividend Income | Capital Gain Distributions |
MFS Institutional Money Market Portfolio | $16,249 | $— |
Item 1(b):
Not applicable
ITEM 2. | CODE OF ETHICS. |
During the period covered by this report, the Registrant has not amended any provision in its Code of Ethics (the “Code”) that relates to an element of the Code’s definitions enumerated in paragraph (b) of Item 2 of this Form N-CSR. During the period covered by this report, the Registrant did not grant a waiver, including an implicit waiver, from any provision of the Code.
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable for semi-annual reports.
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable for semi-annual reports.
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable to the Registrant.
ITEM 6. | INVESTMENTS |
A schedule of investments for the relevant series of the Registrant is included as part of the report to shareholders of such series under Item 1(a) of this Form N-CSR.
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to the Registrant.
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to the Registrant.
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. |
Not applicable to the Registrant.
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There were no material changes to the procedures by which shareholders may send recommendations to the Board for nominees to the Registrant’s Board since the Registrant last provided disclosure as to such procedures in response to the requirements of Item 407 (c)(2)(iv) of Regulation S-K or this Item.
ITEM 11. | CONTROLS AND PROCEDURES. |
(a) | Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this report on Form N-CSR, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. |
(b) | There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by the report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 12. | DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable to the Registrant.
ITEM 13. | EXHIBITS. |
(a) | File the exhibits listed below as part of this form. Letter or number the exhibits in the sequence indicated. |
(1) | Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit. Not applicable. |
(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2): Attached hereto as EX-99.302CERT. |
(3) | Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable. |
(4) | Change in the registrant’s independent public accountant. Not applicable. |
(b) | If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed “filed” for the purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference: Attached hereto as EX-99.906CERT. |
Notice
A copy of the Amended and Restated Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MFS SERIES TRUST IX
By (Signature and Title)* | /S/ DAVID L. DILORENZO | |
David L. DiLorenzo, President |
Date: June 15, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /S/ DAVID L. DILORENZO | |
David L. DiLorenzo, President (Principal Executive Officer) |
Date: June 15, 2021
By (Signature and Title)* | /S/ JAMES O. YOST | |
James O. Yost, Treasurer (Principal Financial Officer and Accounting Officer) |
Date: June 15, 2021
* | Print name and title of each signing officer under his or her signature. |