- CUSIP
- 59520R104
- Delisting Date
- Jun 22, 2026
- Issuer
- MFS
- Inception Date
- Jul 21, 1988
- Category
- High Yield Bonds
- Index Tracked
- Barclays U.S. High-Yield Corporate 2% Issuer Capped Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
CIF Performance Chart
MFS Intermediate High Income Fund (CIF) is down 0.8% since the beginning of the year. CIF is currently trading at $2 per share. Investors who bought $1,000 worth of CIF shares 5 years ago would now be looking at an investment worth $835.
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Returns By Period
MFS Intermediate High Income Fund (CIF) has returned -0.83% so far this year and 3.08% over the past 12 months. Over the last ten years, CIF has returned 5.43% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
MFS Intermediate High Income Fund
- 1D
- -0.62%
- 1M
- -0.36%
- YTD
- -0.83%
- 6M
- -1.13%
- 1Y
- 3.08%
- 3Y*
- 9.99%
- 5Y*
- -3.54%
- 10Y*
- 5.43%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CIF Monthly Returns History
Based on dividend-adjusted daily data since Oct 5, 1988, CIF's average daily return is +0.03%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.
Historically, 58% of months were positive and 42% were negative. The best month was Jan 2009 with a return of +24.9%, while the worst month was Nov 2008 at -26.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 7 months.
On a daily basis, CIF closed higher 40% of trading days. The best single day was Oct 13, 2008 with a return of +25.8%, while the worst single day was Mar 18, 2020 at -16.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.00% | -0.27% | -3.86% | 1.49% | 0.27% | -0.36% | -0.83% | ||||||
| 2025 | 2.28% | 0.02% | -0.87% | -0.27% | 2.62% | 2.20% | 2.00% | 0.26% | 1.69% | -0.58% | 0.86% | -1.48% | 8.97% |
| 2024 | 0.86% | 1.45% | 0.57% | -2.68% | 1.24% | 2.38% | 4.71% | 2.27% | 0.55% | -1.13% | 2.30% | -1.44% | 11.42% |
| 2023 | 9.37% | -1.91% | -5.87% | 0.24% | -2.11% | 1.51% | 5.20% | -1.49% | -4.60% | -2.28% | 8.83% | 5.76% | 11.85% |
| 2022 | -14.60% | -0.91% | 6.45% | -5.08% | -5.38% | -10.93% | 7.15% | -2.79% | -11.60% | 2.61% | 5.99% | -6.11% | -32.24% |
| 2021 | -0.39% | 2.36% | -0.01% | 10.28% | 3.60% | 18.29% | -0.32% | -8.49% | 0.96% | 3.28% | -3.90% | -6.47% | 17.80% |
Benchmark Metrics
MFS Intermediate High Income Fund has an annualized alpha of 2.33%, beta of 0.41, and R2 of 0.09 versus S&P 500 Index. Calculated based on daily prices since October 05, 1988.
- This fund participated in 73.30% of S&P 500 Index downside but only 54.51% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.41 may look defensive, but with R2 of 0.09 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.09 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.33%
- Beta
- 0.41
- R²
- 0.09
- Upside Capture
- 54.51%
- Downside Capture
- 73.30%
Expense Ratio
CIF has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CIF ranks 5 for risk / return — in the bottom 5% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MFS Intermediate High Income Fund (CIF) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CIF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.37 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 2.78 | -2.32 |
| Martin ratioReturn relative to average drawdown | 1.28 | 12.44 | -11.16 |
Dividends
Dividend History
MFS Intermediate High Income Fund provided a 10.87% dividend yield over the last twelve months, with an annual payout of $0.17 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.17 | $0.18 | $0.18 | $0.17 | $0.19 | $0.23 | $0.23 | $0.24 | $0.25 | $0.27 | $0.26 | $0.23 |
Dividend yield | 10.87% | 10.46% | 10.23% | 10.02% | 11.22% | 8.40% | 9.01% | 8.63% | 11.71% | 9.16% | 9.91% | 10.05% |
Monthly Dividends
The table displays the monthly dividend distributions for MFS Intermediate High Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 | ||||||
| 2025 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.18 |
| 2024 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.18 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.19 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.23 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MFS Intermediate High Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MFS Intermediate High Income Fund was 69.23%, occurring on Nov 21, 2008. Recovery took 340 trading sessions.
The current MFS Intermediate High Income Fund drawdown is 22.22%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -69.23%Nov 2008 | 10y 9mo | 1y 4mo | 12y 1moFeb 1998 - Apr 2010 |
1991 bear market1991 | -51.18%Jan 1991 | 1y 6mo | 1y 1mo | 2y 7moJun 1989 - Feb 1992 |
COVID crash2020 | -45.24%Mar 2020 | 27d | 1y 20d | 1y 1moFeb 2020 - Apr 2021 |
Bear market2022 | -44.92%Sep 2022 | 1y 2mo | — | 4y 11moJul 2021 - now |
Rate-hike selloffLate 2018 | -24.75%Dec 2018 | 10mo 29d | 3mo 28d | 1y 2moJan 2018 - Apr 2019 |
Drawdown Indicators
| CIF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.23% | -56.78% | -12.45% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -9.10% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -10.73% | -18.90% | +8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -44.92% | -25.43% | -19.49% |
Max Drawdown (10Y)Largest decline over 10 years | -45.24% | -33.92% | -11.32% |
Current DrawdownCurrent decline from peak | -22.22% | -1.80% | -20.42% |
Average DrawdownAverage peak-to-trough decline | -17.82% | -10.71% | -7.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.03% | +0.85% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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