STRAIGHT YEAR OUR 5 OUR 5 STRAIGHT YEAR STRAIGHT …

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*O UR 12 TH STRAIGHT YEAR

FEBRUARY 17, 2020

The Best Fund Families of 2019

Best Fund Families Over

Best Fund Families Over

1-Y1e-aYrear Current 2018 Family Rank Rank

Five Years

5-Y5e-aYrear Total Assets Weighted U.S.

FUND RANKING World Mixed Taxable Tax-Exempt

Rank Family

(mil)*

Score Equity Equity Equity Bond Bond

Ten Years

10-1Y0e-aYrear Weighted

Rank Family

Score

Weighted Score

1

12 MFS Investment Management

$309,040 77.73 2

17 2

6

13

1

Vanguard Group

78.59

1

Vanguard Group

80.36

2

22 Virtus Investment Partners

42,305 68.77 5

39 1

30 30

3

48 DWS Group

MutuaMl futnuda3l1Wf,1u0en8idghtWeedig6h8t.7e1d 21 18 4

2

28

4

44 Columbia Threadneedle Investments 151,006 66.48 12 3

11 17

20

5

39 Principal Global Investors

153,819 65.27 3

10 16 42

4

2

MFS Investment Management 77.68

3

Virtus Investment Partners

72.81

4

T. Rowe Price

71.05

5

Pimco

70.42

6

Hartford Funds

69.82

2

Virtus Investment Partners

76.94

3

Pimco

76.14

4

MFS Investment Management 75.22

5

T. Rowe Price

72.97

6

Principal Global Investors

72.25

6

46 Nuveen

219,890 65.20 20 4

10 19

6

7

Victory Capital Management 69.49

7

Nuveen

70.76

7

31 State Street Bank & Trust

8

41 Putnam Investment Management

9

27 Fidelity Management & Research

10

8 Vanguard Group

11

57 Natixis Investment Managers

12

20 Hartford Funds

13

16 BlackRock

14

42 Lord Abbett

15

13 Wells Fargo Funds

16

26 Legg Mason

22,407 64.63 7

11 6

28 45

79,380 63.81 4

23 32 23

12

1,553,830 62.38 25 12 8

14

26

1,619,821 60.93 23 33 14 4

25

152,326 60.02 40 2

7

38 21

101,077 59.30 14 32 13 25 7

284,429 59.10 15 21 19 9

44

163,810 58.85 35 51 5

5

1

84,637 58.45 6

8

48 37

34

135,060 57.75 39 7

42 1

40

8

Eaton Vance

9

Fidelity Mgmt & Research

10

BlackRock

11

Legg Mason

12

Columbia Threadneedle Inv

9. MF9S. IMn1vF3eSsItnmveNnusvtmeMeenanntaMgeamnaegnetment

14

Thrivent Mutual Funds

15

Transamerica Asset Mgmt

16

J.P. Morgan Asset Mgmt

17

Principal Global Investors

18

Amundi Pioneer Asset Mgmt

19

DWS Group

68.39 68.09 66.38 65.96 65.51 65.47 65.12 64.36 63.08 61.95 61.24 59.66

8

Putnam Investment Mgmt

67.63

5. MF5S.9IMnvFeSsItnHmvaertnsfotrmdMeFaunnntdaMsgeamnaegnetment 67.32

10

Victory Capital Management 65.52

11

J.P. Morgan Asset Mgmt

65.46

12

John Hancock

65.16

13

Legg Mason

64.11

14

Columbia Threadneedle Inv

63.42

15

Delaware Management

63.24

16

Wells Fargo Funds

62.79

17

Fidelity Mgmt & Research

61.84

18

Thrivent Mutual Funds

60.99

19

BlackRock

60.71

17

9 Victory Capital Management

34,466 57.46 13 9

37 26

15

20 AllianceBernstein

59.32

20

Dimensional Fund Advisors

60.47

18

24 J.P. Morgan Asset Management

19

32 Aberdeen Standard

20 17 T. Rowe Price

21

36 PGIM Investments

387,750 56.87 10 6

34 34

37

9,354

56.71 9

36 29 7

52

801,926 56.60 41 15 3

24

41

125,202 56.58 34 16 41 3

35

21

American Funds

59.27

22 Wells Fargo Funds

59.11

23 PGIM Investments

58.95

24 MainStay Funds

58.41

25 Northern Trust Investments 57.25

21

Aberdeen Standard

59.10

22 PGIM Investments

58.88

23 American Funds

58.63

24 Goldman Sachs Asset Mgmt 58.03

25 DWS Group

57.65

22 56 Invesco

329,807 56.41 24 14 36 22 8

26 Putnam Investment Mgmt

57.20

26 Federated Investors

57.64

23 50 John Hancock

179,367 55.43 28 27 22 15

22

24 37 Northern Trust Investments

26,568 54.30 18 44 20 12

39

25 40 Saratoga Capital Management

1,311

54.18 43 1

25 20 55

26 54 Amundi Pioneer Asset Management 47,362 53.99 19 22 47 18

16

27 Natixis Investment Managers 56.77

28 John Hancock

56.54

29

Dimensional Fund Advisors

55.00

30 Lord Abbett

54.75

31

Saratoga Capital Management 54.39

27 MainStay Funds

57.14

28 Eaton Vance

56.80

29 State Street Bank & Trust

55.30

30 Invesco

54.96

31

Ivy Investment Management 54.88

27 6 First Trust Advisors

25,528 53.98 1

50 49 45 14

32 Federated Investors

54.03

32 AllianceBernstein

53.13

28 30 American Century Investment Mgmt 127,358 52.38 17 13 43 40 19

29 21 BNY Mellon/Dreyfus

$60,586 51.93 30 25 26 32 23

30 52 Federated Investors

71,072 51.64 46 26 15 8

33

31

38 Delaware Management

63,410 51.63 47 24 17 16

17

32 15 Ivy Investment Management

57,689 50.83 8

49 9

50

51

33 Aberdeen Standard

53.86

34 Goldman Sachs Asset Mgmt 52.40

35 Delaware Management

52.04

36 American Century Inv Mgmt 51.81

37 BNY Mellon/Dreyfus

49.30

38 SEI Group

49.20

33 Lord Abbett

51.14

34 Northern Trust Investments 50.97

35 Amundi Pioneer Asset Mgmt 50.85

36 Affiliated Managers Group

50.31

37 American Century Inv Mgmt 49.82

38 Franklin Templeton

49.78

33 3 Eaton Vance

97,054 50.83 16 40 30 33 29

39 Invesco

48.85

39 USAA Investments*

49.68

34 34 Goldman Sachs Asset Management 104,099 49.75 37 45 44 10

3

35 25 Transamerica Asset Management

42,205 48.56 44 5

46 27

5

36 33 Neuberger Berman

35,471 47.57 33 29 40 29 36

37 28 SEI Group

95,156 45.79 45 48 33 11

18

40 Affiliated Managers Group

41

BMO Asset Management

42 Guggenheim Investments

43 USAA Investments*

44 State Street Bank & Trust

48.31 48.00 47.88 46.44 46.34

40 SEI Group

41

BNY Mellon/Dreyfus

42 Guggenheim Investments

43 UBS Asset Management

44 Russell Investment

49.38 44.57 40.13 39.66 36.62

38 5 Pimco

399,098 45.54 11 54 50 43 11

45 SIT Investment Associates

45.64

45 Manning & Napier Advisors 31.72

39 2 MainStay Funds

40 43 AllianceBernstein

41

29 Dimensional Fund Advisors

42 49 UBS Asset Management

54,734 45.35 29 38 35 44 31

89,225 45.23 36 53 27 31

27

464,267 43.93 31 34 39 39 50

11,659 42.84 48 52 21 35 9

46 Manning & Napier Advisors 45.40

47 Neuberger Berman

44.49

48 Franklin Templeton

41.29

49 UBS Asset Management

41.24

50 Ivy Investment Management 40.84

43 47 USAA Investments**

61,344 41.17 51 35 51 13

24

51

AssetMark

39.30

44 18 Manning & Napier Advisors

4,056

40.29 50 28 28 41

54

52 Russell Investments

39.20

45 4 Thrivent Mutual Funds

26,024 40.10 49 46 23 36 42

46 7 SIT Investment Associates

1,593

39.22 27 19 45 55 47

47 NR Morgan Stanley Investment Mgmt

49,181

38.67 53 20 18 47

53

48 11 Franklin Templeton Investments

316,075 37.99 22 42 52 51

48

49 35 Affiliated Managers Group

93,321 37.37 52 47 24 49 2

50 23 Russell Investments

37,340 36.71 32 37 55 48 10

51

10 Brinker Capital

12,798 36.49 42 43 12 54 49

52 NR AssetMark 53 1 American Funds 54 14 Guggenheim Investments 55 19 BMO Asset Management

3,561

35.05 26 55 31 52 43

1,983,036 31.92 55 31 38 46 32

28,425 31.89 38 30 53 53 46

8,186

31.08 54 41 54 21

38

? 2020 Dow Jones & Co. Inc. Licensed Use: Web post, email and social media Licensed To: MFS Investment Management Expiration Date: 02-27-21

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See the reverse side for other important information.

How We Rank the Fund Families

All mutual and exchange-traded funds are required to report their returns (to regulators as well as in advertising and marketing material) after fees are deducted, to better reflect what investors would actually experience. But our aim is to measure manager skill, independent of expenses beyond annual management fees. That's why we calculate returns before any 12b-1 fees are deducted. Similarly, fund loads, or sales charges, aren't included in our calculation of returns.

Each fund's performance is measured against all of the other funds in its Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size, relative to the fund family's other assets in its general classification. If a family's biggest funds do well, that boosts its overall ranking; poor performance in its biggest funds hurts a firm's ranking.

To be included in the ranking, a firm must have at least three funds in the general equity category, one world equity, one mixed equity (such as a balanced or target-date fund), two taxable bond funds, and one national tax-exempt bond fund.

We have historically excluded single-sector and country equity funds, but those are now factored into the rankings as general equity. We exclude all passive index funds, including pure index, enhanced index, and index-based, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

Finally, the score is multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. The category weightings for the one-year results in 2019 were general equity, 35.4%; mixed asset, 21.1%; world equity, 17%; taxable bond, 21.8%; and tax-exempt bond, 4.6%.

The category weightings for the five-year results were general equity, 36.9%; mixed asset, 19.7%; world equity, 17.2%; taxable bond, 21.7%; and tax-exempt bond, 4.6%. For the 10-year list, they were general equity, 37.6%; mixed asset, 20.1%; world equity, 17.5; taxable bond, 20%; and tax-exempt bond, 4.7%.

The scoring: Say a fund in the general U.S. equity category has $500 million in assets, accounting for half of the firm's assets in that category, and its performance lands it in the 75th percentile for the category. The first calculation would be 75 times 0.5, which comes to 37.5. That score is then multiplied by 35.4%, general equity's overall weighting in Lipper's universe. So it would be 37.5 times 0.354, which equals 13.28. Similar calculations are done for each fund in our study. Then the numbers are added for each category and overall. The shop with the highest total score wins. The same process is repeated to determine the five- and 10-year rankings.

For additional information please contact your investment professional or visit us online at . Investment professionals can contact their MFS representative at 1-800-343-2829.

*For the 12th straight year, MFS has been ranked in the top 10 fund families for at least one of the 1-, 5-, or 10-year periods. Keep in mind that all investments, including mutual funds, carry a certain amount of risk, including the possible loss of the principal amount invested. Past performance is no guarantee of future results. Keep in mind that a high relative ranking does not always mean the fund achieved a positive return during the period. Before investing, consider the fund's investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your investment professional or view online at . Please read it carefully.

MFS Fund Distributors, Inc., Boston, MA

MFSP-BARRANK-FLY-2/20 17842.14

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