Fund Evaluator:
MFS High Yield Pooled (HYPPX)
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Fund Details
MFS High Yield Pooled Overview
MFS High Yield Pooled (HYPPX) is an actively managed Taxable Bond High Yield Bond fund. MFS launched the fund in 2013.
The investment seeks total return with an emphasis on high current income, but also considering capital appreciation. MFS (Massachusetts Financial Services Company, the fund's investment adviser) normally invests at least 80% of the fund's net assets in high yielding debt instruments. It may invest the fund's assets in other types of debt instruments. Debt instruments include corporate bonds, foreign government securities, floating rate loans, and other obligations to repay money borrowed.
About MFS High Yield Pooled (HYPPX)
There are 2 members of the management team with an average tenure of 10.98 years: David Cole (2013), Michael Skatrud (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US HY 2% Issuer Cap TR USD index with a weighting of 100%. MFS High Yield Pooled has 378 securities in its portfolio. The top 10 holdings constitute 7.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
MFS High Yield Pooled is part of the Fixed Income global asset class and is within the Taxable Bond fund group. MFS High Yield Pooled has 11.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.1% (86.0% domestic bond, 11.1% foreign bond and 0.0% convertible bond). MFS High Yield Pooled has 2.3% of the portfolio in cash.
Assets Under Management
The fund has $534 million in total assets, which is below the $550 million average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
HYPPX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The MFS High Yield Pooled expense ratio is low compared to funds in the High Yield Bond category. MFS High Yield Pooled has an expense ratio of 0.03%, which is 97% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. MFS High Yield Pooled has a portfolio turnover rate of 50%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the High Yield Bond category.
Recently, in the month of August 2026, MFS High Yield Pooled returned 0.9%, which earned it a grade of C, as the High Yield Bond category had an average return of 0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
MFS High Yield Pooled has a trailing yield of 7.72%, which is above the 6.24% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
MFS High Yield Pooled Grades
Year to date, the fund has returned 2.3%, 0.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.7% over the past year (grade of C), 8.4% over the past three years (grade of B) and 4.3% per year over the past five years (grade of B) and 5.2% per year over the past 10 years (grade of B).
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HYPPX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| HYPPX Return (NAV) | 0.9% | 0.9% | 4.7% | 8.4% | 4.3% | 5.2% |
| HYPPX Grade | C | C | C | B | B | B |
| +/- Category | 0.1% | 0.1% | 0.0% | 0.7% | 0.5% | 0.5% |
| High Yield Bond Avg | 0.9% | 0.8% | 4.6% | 7.8% | 3.8% | 4.7% |
| HYPPX Tax Cost Ratio | na | na | 3.0% | 2.9% | 2.7% | 2.5% |
HYPPX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HYPPX Return (NAV) | 2.3% | 9.4% | 7.6% | 13.3% | -9.9% | 4.2% | 5.0% | 15.4% | -2.3% | 7.3% | 14.5% |
| HYPPX Grade | D | A | C | A | B | D | C | A | B | B | B |
| +/- Category | -0.3% | 1.6% | -0.1% | 1.5% | 0.2% | -0.9% | -0.2% | 2.4% | 0.4% | 0.6% | 1.1% |
| High Yield Bond Avg | 2.5% | 7.9% | 7.6% | 11.9% | -10.0% | 5.1% | 5.3% | 13.0% | -2.6% | 6.7% | 13.4% |
| Risk Measures | |
| Standard Deviation: | 4.3% |
| Total Risk Index: | 0.35 - Low |
| Category Risk Index: | 1.07 - Above Average |
| Category Risk Grade: | D (65% Rank) |
| Beta: | 0.64 |
| R-Squared: | 71% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | Low Quality Limited Sensitivity |
| Yield: | 7.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $534 Mil |
| Fund Total Assets: | $ 535 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 50% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.4 years | |||
| Average Tenure: 11.0 years | |||
| Managers (Year): Cole David (2013), Skatrud Michael (2018) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 378 |
| % in Top 10 Holdings: | 7.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 86.0% |
| Foreign Bond: | 11.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 2.3% |
Purchase Information
| Fund Family: | MFS |
| Phone Number: | 800-225-2606 |
| Website: | http://www.mfs.com |
| Status: | Open |
| Inception Date: | March 25, 2013 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.03% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.92% |
| Share Class: | MFS High Yield Pooled |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
