MFS Active International ETF

MFS Active International ETF (MFSI) is an actively managed fund. Its adviser, MFS, picks about 100 stocks from outside the US, led by companies in Japan, France, the UK, Switzerland and Taiwan. It charges 0.59% a year, far more than the 0.03% to 0.32% charged by the large international index funds it most resembles. It also shares only about a fifth of its holdings with any of them, so it can perform quite differently.

• Over the year to Oct 27, 2026, MFSI returned +10.2%, 7th of 7 among similar funds.
• Its worst full calendar year was 2025 (+26.4%); its best was 2025 (+26.4%).
• The deepest fall in its price history was 13.7% (Mar 19, 2025 to Apr 8, 2025), recovered by May 2, 2025.

As of Aug 31, 2026, the fund held 101 securities; the ten largest made up 26.84% of assets.

• Over the three months to Aug 31, 2026, investors added a net $89.9M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -0.01%, +3.16%, +0.46%.

MFSI does not track an index. Its goal is capital appreciation, which means growth in the value of the investment. Its adviser, Massachusetts Financial Services Company (MFS), invests mainly in foreign stocks, including emerging markets. Emerging markets are countries whose financial markets are still developing. The fund buys common stocks and depositary receipts. A depositary receipt is a certificate that represents shares of a foreign company.

MFS uses a bottom-up approach. That means it studies individual companies' finances and prospects rather than starting from big-picture economic forecasts. Quantitative models (computer-based screening and portfolio-building tools) help the team choose and size positions. The fund is not tied to growth or value stocks and can own companies of any size. It usually spreads money across countries and sectors, but it may put a large share in a single country or industry. As of August 31, 2026, it held 101 issuers. The 10 largest made up 26.8% of assets, led by Taiwan Semiconductor Manufacturing at 7.3%. The prospectus reports portfolio turnover of 10%, which means MFS replaced only about a tenth of the portfolio over the period.

As of August 31, 2026, the fund held no derivatives and 1.3% in cash. Like any ETF, its shares trade at market prices, which can differ from the value of its holdings. Large institutions called authorized participants create and redeem shares to keep those two figures close, but they are not obligated to do so.

• MFSI charges 0.59% a year, versus an average of 0.1% for the similar funds below (7th of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $738 over 10 years (assuming a 5% annual return).

It adds actively chosen stocks from Japan, Europe and parts of Asia to a portfolio that may be concentrated in US companies.

MFSI could broaden a US-heavy portfolio with companies such as Taiwan Semiconductor, Samsung, Novartis and Toyota-era Japanese industrials like Hitachi. Its record is short. It launched December 5, 2024, so it missed the 2008, 2020 and 2022 downturns. Its deepest drop was 13.7%, from March 19 to April 8, 2025, and it recovered by May 2, 2025, in under a month. Its only full calendar year, 2025, returned 26.33%, according to the prospectus. That says little about how it might hold up in a long bear market, when a retiree may need to sell shares. Income is small. The yield over the past 12 months was 0.76% as of October 27, 2026, paid twice a year. In the SEC's standard example, $10,000 invested would cost $738 in fees over 10 years. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).