Investor Presentaiton
Performance Drivers - Sectors
MFS®
Relative to Standard & Poor's 500 Stock Index
-
(USD) first quarter 2024
Average
relative
weighting (%)
Relative
Portfolio
Benchmark
returns (%)
returns (%)
Sector
Stock
allocation (%) selection² (%)
Currency
+
+
= contribution
effect (%)
(%)
Contributors
Consumer Discretionary
-4.4
15.6
5.0
0.3
0.6
-0.0
0.9
Information Technology
-1.6
14.8
12.7
-0.0
0.6
-0.0
0.5
Health Care
0.9
10.6
8.8
-0.0
0.2
0.2
Industrials
0.2
13.4
11.0
0.0
0.2
Financials
3.1
12.7
12.5
0.1
0.0
Detractors
Communication Services
-0.5
3.6
15.8
0.0
-1.1
Materials
1.2
4.7
8.9
-0.0
-0.2
Utilities
-0.9
-7.7
4.6
0.1
-0.2
Real Estate
-0.2
-4.0
-0.5
0.0
-0.1
| | | |│
0.2
0.1
-1.1
-0.2
-0.1
-0.1
Consumer Staples
1.4
7.1
7.5
-0.0
-0.0
-0.0
-0.1
Cash
0.7
1.3
-0.1
-
-0.1
Energy
0.1
12.7
13.7
-0.0
-0.0
-0.0
Total
10.9
10.6
0.3
0.1
-0.1
0.3
1 Sector allocation is calculated based upon each security's price in local currency.
2 Stock selection is calculated based upon each security's price in local currency and included interaction effect. Interaction effect is the portion of the portfolio's relative
performance attributable to combining allocation decisions with stock selection decisions. This effect measures the relative strength of the manager's convictions. The
interaction effect is the weight differential times the return differential.
Attribution results are generated by the FactSet application utilizing a methodology that is widely accepted in the investment industry. Results are based upon daily holdings
using a buy-and-hold methodology to generate individual security returns and do not include fees or expenses. As such, attribution results are essentially estimates and do not
aggregate to the total return of the portfolio, which can be found elsewhere in this presentation. Recent geopolitical events may have impacted or disrupted the pricing of specific
securities including the use of fair valuation approaches. Fair valuation practices across pricing sources index providers, pricing vendors, MFS - may not align due to security
specific considerations or timing of fair valuation parameters. For instance, decisions to use stale prices vs fair value or on the level of haircut when fair valuing securities are
typical sources of discrepancy between pricing sources observed during the events. This may further compound differences between attribution results and actual performance.
To obtain the contribution calculation methodology and a complete list of every holding's contribution to the overall portfolio's performance during the measurement period,
please email [email protected].
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and S&P Global Market Intelligence Inc. ("S&P Global Market
Intelligence"). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by MFS. MFS has applied its own internal sector/industry
classification methodology for equity securities and non-equity securities that are unclassified by GICS.
FOR DEALER AND INSTITUTIONAL USE ONLY. - Massachusetts Investors Trust
PRPEQ-MIT-31-Mar-24
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