MFS Municipal Income A ( MFIAX ) a Zacks Ranked #1 (Strong Buy) was incepted in December 1986 and is managed by Massachusetts Financial Services Company. MFIAX's investment objective is to provide as high a level of current income exempt from federal income tax as is considered consistent with prudent investing while seeking protection of shareholders' capital. MFIAX invests, under normal market conditions, a large chunk of its net assets in securities and other investments, the interest on which is exempt from federal income tax. To meet this policy, MFIAX may invest in municipal securities, which are bonds or other debt obligations of a U.S. state or political subdivision. MFIAX seeks to invest in municipal securities whose income is exempt from federal income tax. However, the interest income on certain of these municipal securities may be subject to alternative minimum tax. MFIAX focuses on municipal securities rated, or issued by issuers who have securities that are rated, in one of the top four credit ratings by credit rating agencies.
MFS Municipal Income A, managed by MFS , carries an expense ratio of 0.74. Moreover, MFIAX requires a minimal initial investment of $1,000.
MFIAX has a history of positive total returns for over 10 years. Specifically, the fund's returns over the 1, 3, 5 year benchmarks; 1 year 3.06%, 3 year 2.67% and 5 year 4.37%. To see how this fund performed compared in its category, please click here .
MFIAX's performance, as of the last filing, when compared to funds in its category was in the top 15% in 1 year, top 30% over the past 3 years, and in the 23% over the past 5 years.
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