Fund Evaluator:

MFS International Intrinsic Equity I Overview

MFS International Intrinsic Equity I (MINIX) is an actively managed International Equity Foreign Large Blend fund. MFS launched the fund in 1997.

The investment seeks capital appreciation. The fund normally invests at least 80% of the fund’s net assets in equity securities. Equity securities include common stocks, depositary receipts, and other securities that represent an ownership interest (or right to acquire an ownership interest) in a company or other issuer. It normally invests the fund’s assets primarily in foreign equity securities, including emerging market equity securities.

About MFS International Intrinsic Equity I (MINIX)

There are 2 members of the management team with an average tenure of 12.10 years: Benjamin Stone (2008), Philip Evans (2020). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and MSCI EAFE Value NR USD index with a weighting of 100%. MFS International Intrinsic Equity I has 96 securities in its portfolio. The top 10 holdings constitute 27.0% 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 International Intrinsic Equity I is part of the Equity global asset class and is within the International Equity fund group. MFS International Intrinsic Equity I has 87.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 8.8%. There is 87.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). MFS International Intrinsic Equity I has 3.3% of the portfolio in cash.

Assets Under Management

The fund has $6 billion in total assets, which is above the $2 billion average for the Foreign Large Blend 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.

MINIX 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 International Intrinsic Equity I expense ratio is above average compared to funds in the Foreign Large Blend category. MFS International Intrinsic Equity I has an expense ratio of 0.77%, which is 18% lower than its category average, making the fund expense ratio grade a B. 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 International Intrinsic Equity I has a portfolio turnover rate of 21%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.

Recently, in the month of July 2026, MFS International Intrinsic Equity I returned 3.0%, which earned it a grade of A, as the Foreign Large Blend category had an average return of 0.7%. 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 International Intrinsic Equity I has a trailing yield of 1.53%, which is below the 2.17% category average. The fund normally distributes its income annually 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 International Intrinsic Equity I Grades

Year to date, the fund has returned 8.2%, 3.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 21.3% over the past year (grade of D), 16.5% over the past three years (grade of C) and 7.6% per year over the past five years (grade of D) and 10.1% per year over the past 10 years (grade of A).

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