MFS Alabama Municipal Bond Fund (MFALX)
The investment seeks total return with an emphasis on income exempt from federal income tax and personal income tax, if any, of Alabama, but also considering capital appreciation. The fund invests, under normal market conditions, at least 80% of its net assets in securities and other investments, the interest on which is exempt from federal income tax and personal income tax, if any, of Alabama. Interest from the fund's investments may be subject to the federal alternative minimum tax. The adviser normally invests the fund's assets primarily in municipal instruments.
Fund Info
ISIN | US55273N3017 |
---|---|
CUSIP | 55273N301 |
Issuer | MFS |
Inception Date | Jan 31, 1990 |
Category | Municipal Bonds |
Min. Investment | $1,000 |
Asset Class | Bond |
Expense Ratio
MFALX has a high expense ratio of 0.90%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MFS Alabama Municipal Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
MFS Alabama Municipal Bond Fund had a return of -0.47% year-to-date (YTD) and 3.42% in the last 12 months. Over the past 10 years, MFS Alabama Municipal Bond Fund had an annualized return of 1.99%, while the S&P 500 had an annualized return of 10.90%, indicating that MFS Alabama Municipal Bond Fund did not perform as well as the benchmark.
Period | Return | Benchmark |
---|---|---|
Year-To-Date | -0.47% | 11.05% |
1 month | 1.32% | 4.86% |
6 months | 5.46% | 17.50% |
1 year | 3.42% | 27.37% |
5 years (annualized) | 0.64% | 13.14% |
10 years (annualized) | 1.99% | 10.90% |
Monthly Returns
The table below presents the monthly returns of MFALX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | -0.31% | -0.06% | 0.08% | -1.56% | -0.47% | ||||||||
2023 | 3.26% | -2.74% | 2.08% | 0.02% | -0.82% | 0.45% | 0.14% | -1.25% | -3.35% | -1.65% | 7.55% | 3.07% | 6.43% |
2022 | -2.52% | -0.56% | -3.19% | -2.98% | 1.11% | -2.21% | 2.51% | -2.81% | -4.82% | -0.89% | 5.80% | -0.31% | -10.77% |
2021 | 0.63% | -1.57% | 0.52% | 1.18% | 0.42% | 0.31% | 0.79% | -0.44% | -0.82% | -0.16% | 0.89% | 0.12% | 1.86% |
2020 | 1.74% | 1.32% | -4.22% | -1.86% | 3.12% | 0.88% | 1.48% | -0.49% | -0.02% | -0.22% | 1.71% | 0.73% | 4.04% |
2019 | 0.48% | 0.44% | 1.77% | 0.35% | 1.32% | 0.32% | 0.62% | 1.68% | -0.55% | -0.08% | 0.20% | 0.30% | 7.03% |
2018 | -0.98% | -0.34% | 0.48% | -0.33% | 1.08% | 0.17% | 0.18% | 0.28% | -0.63% | -0.73% | 0.78% | 1.09% | 1.04% |
2017 | 0.32% | 0.59% | 0.32% | 0.67% | 1.27% | -0.21% | 0.58% | 0.77% | -0.22% | -0.21% | -0.32% | 0.87% | 4.50% |
2016 | 0.88% | 0.08% | 0.57% | 0.77% | 0.29% | 1.33% | -0.28% | 0.28% | -0.49% | -0.85% | -3.06% | 0.81% | 0.27% |
2015 | 1.53% | -0.96% | 0.31% | -0.47% | -0.17% | 0.01% | 0.60% | 0.21% | 0.59% | 0.21% | 0.49% | 0.70% | 3.08% |
2014 | 1.85% | 0.79% | 0.62% | 1.10% | 1.59% | 0.01% | 0.29% | 1.26% | 0.20% | 0.87% | 0.37% | 0.58% | 9.95% |
2013 | 0.40% | 0.28% | -0.43% | 1.23% | -0.99% | -3.17% | -1.81% | -2.14% | 1.98% | 0.53% | -0.38% | -0.18% | -4.70% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MFALX is 14, indicating that it is in the bottom 14% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
MFALX (MFS Alabama Municipal Bond Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MFS Alabama Municipal Bond Fund (MFALX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MFS Alabama Municipal Bond Fund granted a 2.99% dividend yield in the last twelve months. The annual payout for that period amounted to $0.28 per share.
Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dividend | $0.28 | $0.27 | $0.20 | $0.16 | $0.23 | $0.28 | $0.33 | $0.35 | $0.36 | $0.38 | $0.37 | $0.39 |
Dividend yield | 2.99% | 2.83% | 2.19% | 1.56% | 2.20% | 2.72% | 3.32% | 3.40% | 3.61% | 3.60% | 3.52% | 3.97% |
Monthly Dividends
The table displays the monthly dividend distributions for MFS Alabama Municipal Bond 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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | $0.00 | $0.02 | $0.05 | $0.02 | $0.00 | $0.09 | |||||||
2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
2021 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.16 |
2020 | $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 |
2019 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the MFS Alabama Municipal Bond 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 Alabama Municipal Bond Fund was 16.21%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current MFS Alabama Municipal Bond Fund drawdown is 5.96%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
---|---|---|---|---|---|---|
-16.21% | Aug 4, 2021 | 310 | Oct 25, 2022 | — | — | — |
-11.67% | Sep 12, 2008 | 25 | Oct 16, 2008 | 138 | May 6, 2009 | 163 |
-11.55% | Mar 2, 2020 | 15 | Mar 20, 2020 | 176 | Nov 30, 2020 | 191 |
-9.58% | Feb 1, 1994 | 211 | Nov 22, 1994 | 82 | Mar 16, 1995 | 293 |
-8.67% | Oct 13, 2010 | 66 | Jan 14, 2011 | 137 | Aug 2, 2011 | 203 |
Volatility
Volatility Chart
The current MFS Alabama Municipal Bond Fund volatility is 0.81%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.