MFS Emerging Markets Debt Fund
MFS SERIES TRUST X · 9 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
MFS Emerging Markets Debt Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q4
The funds investment objective is to seek total return with an emphasis on high current income, but also considering capital appreciation.
The fund invests at least 80% of assets in debt instruments issued by or economically tied to emerging market countries, selecting securities based on fundamental analysis of creditworthiness, relative value, duration, yield positioning, and liquidity across different countries, sectors, and industries. The fund may concentrate a significant portion of assets in a single country, sector, or industry, and may hold up to 100% in below-investment-grade debt, creating concentration risk. The fund may use derivatives to adjust market, interest rate, or currency exposure.
| Share class | Gross | Net |
|---|---|---|
| MEDAX | 1.08% | 1.07% |
| MEDBX | 1.83% | 1.82% |
| MEDCX | 1.83% | 1.82% |
| MEDIX | 0.83% | 0.82% |
| MEDHX | 0.72% | 0.71% |
| MEDDX | 1.83% | 1.82% |
| MEDEX | 1.33% | 1.32% |
| MEDFX | 1.08% | 1.07% |
| MEDGX | 0.83% | 0.82% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 69.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 95.22% |
| Stocks | 4.15% |
| Derivatives | 0.01% |
| Other | 0.00% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: REPUBLIC OF POLAND ×2, REPUBLIC OF ANGOLA, REPUBLIC OF PARAGUAY, REPUBLIC OF SERBIA, ROMANIA ×2, IVORY COAST
Largest exited: United States Treasury ×2, POLAND GOVERNMENT BOND, KUWAIT INTL BOND ×2, Colombia Government International Bonds, DP WORLD CRESCENT LTD, REPUBLICA ORIENT URUGUAY
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +12.08% | +30.83% | +13.58% | 5.21% | -5.58% | |
| +11.25% | +28.02% | +9.44% | 5.21% | -5.72% | |
| +11.24% | +28.06% | +9.40% | 5.22% | -5.81% | |
| +12.27% | +31.84% | +14.96% | 5.23% | -5.62% | |
| +12.48% | +32.29% | +15.69% | 5.35% | -5.58% | |
| +11.15% | +27.93% | +9.43% | 5.25% | -5.81% | |
| +11.78% | +29.95% | +12.18% | 5.22% | -5.68% | |
| +12.06% | +30.93% | +13.60% | 5.22% | -5.65% | |
| +12.25% | +31.80% | +14.94% | 5.21% | -5.50% |
These classes hold the same portfolio, so the 6.29pp spread over 5 years is the cost difference between them — roughly 1.26pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 90.8% |
| Floating rate | 5.7% |
| Zero-coupon or unclassified | 3.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.9% |
| 1-3y | 5.0% |
| 3-5y | 18.3% |
| 5-10y | 40.4% |
| 10y+ | 34.4% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 50% |
| Interest rates | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.11 yr |
| High yield | +2.70 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.45 yr | 8% |
| 5 yr | 1.97 yr | 35% |
| 10 yr | 2.42 yr | 42% |
| 30 yr | 0.86 yr | 15% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.42 yr | 7% |
| 5 yr | 1.94 yr | 33% |
| 10 yr | 2.55 yr | 44% |
| 30 yr | 0.88 yr | 15% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.01 | +0.01 | $4.8k | $6.8k |
| 1 yr | +0.45 | +0.19 | +0.23 | $141.2k | $176.7k |
| 5 yr | +1.97 | +0.94 | +1.00 | $708.3k | $758.6k |
| 10 yr | +2.42 | +1.42 | +1.13 | $1.07m | $852.2k |
| 30 yr | +0.86 | +0.56 | +0.32 | $423.5k | $241.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 5.72 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | MFS Institutional Money Market Portfolio | 4.15% | $1.00 | $313.65M | 313.6M |
| — | Argentina Republic Government International Bonds4.13% floating · due 2035-07-09 | 1.14% | — | $86.11M | — |
| — | Argentina Republic Government International Bonds3.50% floating · due 2041-07-09 | 1.02% | — | $76.99M | — |
| — | Ecuador Government International Bonds6.90% · due 2035-07-31 | 0.98% | — | $73.87M | — |
| — | Argentina Republic Government International Bonds5.00% · due 2038-01-09 | 0.90% | — | $68.27M | — |
| — | Paraguay Government International Bonds5.40% · due 2050-03-30 | 0.73% | — | $55.47M | — |
| — | Colombia Government International Bonds7.75% · due 2036-11-07 | 0.71% | — | $53.81M | — |
| — | DOMINICAN REPUBLIC4.88% · due 2032-09-23 | 0.71% | — | $53.42M | — |
| — | REPUBLIC OF VENEZUELA0.00% · due 2027-09-15 | 0.67% | — | $50.92M | — |
| — | Ecuador Government International Bonds5.00% floating · due 2040-07-31 | 0.64% | — | $48.47M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 11.66% of net assets, top 25 19.65%, across 233 issuers.
See more of this fund's book
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