MFS Conservative Allocation Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, MFS Conservative Allocation Fund held 22 positions with $3.61B in net assets. Its ten largest holdings made up 76.3% of the fund. The MACFX share class costs 0.83% a year. Over the 12 months to May 2026, MACFX returned 9.6%, with dividends reinvested. In 2026 Q2 it added no new positions and exited none.
The fund's investment objective is to seek a high level of total return consistent with a conservative level of risk relative to the other MFS Asset Allocation Funds. (The MFS Asset Allocation Funds currently are MFS Conservative Allocation Fund, MFS Moderate Allocation Fund, MFS Growth Allocation Fund, and MFS Aggressive Growth Allocation Fund.)
The fund is a fund of funds that invests in other MFS mutual funds to achieve diversification across asset classes. MFS allocates approximately 40% to equity and non-traditional funds (including domestic equity, international equity, real estate, and commodities) and 60% to bond and money market funds, using quantitative models based on valuation metrics, growth rates, yields, and inflation projections to set long-term strategic allocations. MFS may deviate from these target allocations by up to 10% under normal market conditions and limits non-traditional fund exposure to 20% of assets. Because the fund's returns depend on the performance of the underlying funds MFS selects within each asset class, performance will reflect both MFS's allocation decisions and the underlying funds' results.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
MFS Research Bond Fund | 14.91% | $537.51M | 56.3M | $9.55 |
MIAKXMFS Inflation Adjusted Bond Fund | 9.98% | $360.06M | 39.3M | $9.17 |
MQLKXMFS Ltd Maturity Fund | 9.93% | $358.10M | 61.2M | $5.85 |
MFGKXMFS Government Securities Fund | 9.90% | $357.00M | 41.6M | $8.58 |
MGBOXMFS Global Opportunistic Bond Fund | 6.99% | $252.19M | 31.0M | $8.13 |
MFS Value Fund | 5.96% | $214.79M | 4.1M | $51.86 |
MFS Growth Fund | 5.30% | $191.08M | 910.5K | $209.87 |
MFRKXMFS Research Fund | 5.29% | $190.61M | 3.2M | $59.62 |
MFS Mid Cap Growth Fund | 4.07% | $146.61M | 5.0M | $29.57 |
MFS Mid Cap Value Fund | 4.01% | $144.68M | 4.3M | $33.78 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
All 22 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 43.23% |
| Stocks | 38.36% |
| Securitized | 17.16% |
| Cash & short-term | 1.45% |
| 2 smaller | 0.22% |
Look-through blends 21 underlying funds; 0.969% of NAV was not looked through and stays direct-classified.
How it has done
MACFX share class · total returns with dividends reinvested
Volatility over the last 12 months: 5.48%. Past returns are a record, not a forecast.
The 9 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.83% | +9.59% | +29.14% | +19.60% | -5.76% | |
| 0.58% | +9.86% | +30.10% | +21.19% | -5.69% | |
| 1.58% | +8.75% | +26.22% | +15.23% | -5.98% | |
| 1.58% | +8.76% | +26.26% | +15.27% | -5.92% | |
| 0.58% | +9.86% | +30.11% | +21.15% | -5.70% | |
| 1.58% | +8.75% | +26.32% | +15.28% | -5.92% | |
| 1.08% | +9.33% | +28.15% | +18.17% | -5.83% | |
| 0.83% | +9.63% | +29.17% | +19.67% | -5.81% | |
| 0.52% | +9.94% | +30.36% | — | -5.68% |
These classes hold the same portfolio, so the 4.13pp spread over 3 years is the cost difference between them — roughly 1.38pp a year — not a difference in what they own.
Fees & fund details
MFS Conservative Allocation Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 0.52% – 1.58%· MACFX 0.83%
- Portfolio turnover
- 5.00% a year · as of 2025 Q3
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
0 new
0 exited
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