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MFS® International Diversification Fund
MFS® International Diversification Fund - Summary of Key Information
Investment Objective

The fund’s investment objective is to seek capital appreciation.

Fees and Expenses

This table describes the fees and expenses that you may pay when you buy and hold shares of the fund.


You may qualify for sales charge reductions if you and certain members of your family invest, or agree to invest in the future, at least $50,000 in MFS Funds. More information about these and other waivers and reductions is available from your financial intermediary and in “Sales Charges and Waivers or Reductions” on page 8 of the fund’s prospectus and “Waivers of Sales Charges” on page H-1 of the fund’s Statement of Additional Information (“SAI”).

Shareholder Fees (fees paid directly from your investment):
Shareholder Fees MFS® International Diversification Fund
A
B
C
I
529A
529B
529C
R1
R2
R3
R4
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 5.75% none none none 5.75% none none none none none none
Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, whichever is less) 1.00% [1] 4.00% 1.00% none none 4.00% 1.00% none none none none
[1] On shares purchased without an initial sales charge and redeemed within 18 months of purchase for shares purchased on or after August 1, 2012, and within 24 months of purchase for shares purchased prior to August 1, 2012.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses MFS® International Diversification Fund
A
B
C
I
529A
529B
529C
R1
R2
R3
R4
Management Fee none none none none none none none none none none none
Distribution and/or Service (12b-1) Fees 0.25% 1.00% 1.00% none 0.25% 1.00% 1.00% 1.00% 0.50% 0.25% none
Other Expenses 0.08% 0.08% 0.08% 0.08% 0.18% 0.18% 0.18% 0.08% 0.08% 0.08% 0.08%
Acquired (Underlying) Fund Fees and Expenses 0.93% 0.93% 0.93% 0.93% 0.93% 0.93% 0.93% 0.93% 0.93% 0.93% 0.93%
Total Annual Fund Operating Expenses 1.26% 2.01% 2.01% 1.01% 1.36% 2.11% 2.11% 2.01% 1.51% 1.26% 1.01%
Fee Reductions and/or Expense Reimbursements [1] none none none none (0.05%) (0.05%) (0.05%) none none none none
Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements 1.26% 2.01% 2.01% 1.01% 1.31% 2.06% 2.06% 2.01% 1.51% 1.26% 1.01%
[1] MFS Fund Distributors, Inc., has agreed in writing to waive the program management fee for each of the fund's Class 529A, Class 529B, and Class 529C shares to 0.05% of the fund's average daily net assets attributable to each share class annually. This written agreement will expire on September 30, 2014, unless MFS Fund Distributors, Inc., elects to extend the waiver.
Example

This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds.


The example assumes that: you invest $10,000 in the fund for the time periods indicated and you redeem your shares at the end of the time periods (unless otherwise indicated); your investment has a 5% return each year; and the fund’s operating expenses remain the same.

Although your actual costs will likely be higher or lower, under these assumptions your costs would be:
Expense Example MFS® International Diversification Fund (USD $)
1 YEAR
3 YEARS
5 YEARS
10 YEARS
A
696 952 1,227 2,010
B
604 931 1,283 2,144
C
304 631 1,083 2,338
I
103 322 558 1,236
529A
701 976 1,272 2,112
529B
609 956 1,329 2,246
529C
309 656 1,129 2,438
R1
204 631 1,083 2,338
R2
154 477 824 1,802
R3
128 400 692 1,523
R4
103 322 558 1,236
Expense Example No Redemption MFS® International Diversification Fund (USD $)
1 YEAR
3 YEARS
5 YEARS
10 YEARS
B
204 631 1,083 2,144
C
204 631 1,083 2,338
529B
209 656 1,129 2,246
529C
209 656 1,129 2,438
Portfolio Turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares are held in a taxable account. These transaction costs, which are not reflected in “Annual Fund Operating Expenses” or in the “Example,” affect the fund’s performance.  During the most recent fiscal year, the fund’s portfolio turnover rate was 2% of the average value of its portfolio.

Principal Investment Strategies

The fund is designed to provide diversification within the international asset class by investing the majority of its assets in other mutual funds advised by MFS (Massachusetts Financial Services Company, the fund’s investment adviser), referred to as underlying funds. The underlying funds are selected based on underlying fund classifications, historical risk, performance, and other factors. MFS seeks to diversify the fund’s investments in terms of market capitalization (by including large, mid, and/or small cap underlying funds), by style (by including both growth and value underlying funds), and by geographic region (by including developed and emerging market underlying funds).  However, MFS may invest a large percentage of the underlying funds’ assets in a single country, a small number of countries, or a particular geographic region. As of September 1, 2013, the fund’s target allocation among underlying funds was:


MFS Emerging Markets Equity Fund

 

10

%

MFS International Growth Fund

 

25

%

MFS International New Discovery Fund

 

10

%

MFS International Value Fund

 

25

%

MFS Research International Fund

 

30

%

Principal Risks

As with any mutual fund, the fund may not achieve its objective and/or you could lose money on your investment in the fund. An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency.


The principal risks of investing in the fund are:


Investment Selection and Allocation Risk:  MFS’ investment analysis, its selection of investments, and its assessment of the risk/return potential of asset classes and underlying funds may not produce the intended results and/or can lead to an investment focus that results in the fund underperforming other funds with similar investment strategies and/or underperforming the markets in which the fund invests.


Underlying Funds Risk:  MFS’ strategy of investing in underlying funds exposes the fund to the risks of the underlying funds. Each underlying fund pursues its own investment objective and strategies and may not achieve its objective.


Stock Market/Company Risk:  Stock markets are volatile and can decline significantly in response to issuer, market, economic, industry, political, regulatory, geopolitical, and other conditions, as well as to investor perceptions of these conditions. The price of an equity security can decrease significantly in response to these conditions, and these conditions can affect a single issuer or type of security, issuers within a broad market sector, industry or geographic region, or the market in general.


Foreign and Emerging Markets Risk:  Exposure to foreign markets, especially emerging markets, through issuers or currencies can involve additional risks relating to market, economic, industry, political, regulatory, geopolitical, and other conditions. These factors can make foreign investments, especially those in emerging markets, more volatile and less liquid than U.S. investments. In addition, foreign markets can react differently to these conditions than the U.S. market. Emerging markets can have less developed markets, greater custody and operational risk, less developed legal, regulatory, and accounting systems, and greater political, social, and economic instability than developed markets.


Currency Risk:  The value of foreign currencies relative to the U.S. dollar fluctuates in response to market, economic, industry, political, regulatory, geopolitical, and other conditions, and a decline in the value of a foreign currency versus the U.S. dollar reduces the value in U.S. dollars of investments denominated in that foreign currency.


Geographic Concentration Risk: The fund’s performance could be closely tied to the market, currency, economic, political, regulatory, geopolitical, and other conditions in the countries or regions in which the fund invests and could be more volatile than the performance of more geographically-diversified funds.


Growth Company Risk:  The stocks of growth companies can be more sensitive to the company’s earnings and more volatile than the market in general.


Value Company Risk:  The stocks of value companies can continue to be undervalued for long periods of time and not realize their expected value and can be more volatile than the market in general.


Derivatives Risk:  Derivatives can be highly volatile and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based. Gains or losses from derivatives can be substantially greater than the derivatives’ original cost.  Derivatives can involve leverage.


Leveraging Risk:  Leverage involves investment exposure in an amount exceeding the initial investment. Leverage can cause increased volatility by magnifying gains or losses.


Counterparty and Third Party Risk:  Transactions involving a counterparty or third party other than the issuer of the instrument are subject to the credit risk of the counterparty or third party, and to the counterparty’s or third party’s ability to perform in accordance with the terms of the transaction.


Liquidity Risk:  It may not be possible to sell certain investments, types of investments, and/or segments of the market at any particular time or at an acceptable price.

Performance Information

The bar chart and performance table below are intended to provide some indication of the risks of investing in the fund by showing changes in the fund’s performance over time and how the fund’s performance over time compares with that of a broad measure of market performance.


The fund’s past performance (before and after taxes) does not necessarily indicate how the fund will perform in the future. Updated performance is available online at mfs.com or by calling 1-800-225-2606.

The bar chart does not take into account any sales charges (loads) that you may be required to pay upon purchase or redemption of the fund's shares. If these sales charges were included, they would reduce the returns shown.


Class A Bar Chart.
Bar Chart

The total return for the six-month period ended June 30, 2013 was 3.45%.  During the period(s) shown in the bar chart, the highest quarterly return was 23.90% (for the calendar quarter ended June 30, 2009) and the lowest quarterly return was (19.72)% (for the calendar quarter ended September 30, 2008).

Performance Table.
Average Annual Total Returns (for the Periods Ended December 31, 2012)
Average Annual Returns MFS® International Diversification Fund
Label
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
B
B Shares Returns Before Taxes 13.27% (1.67%) 7.14% Sep. 30, 2004
C
C Shares Returns Before Taxes 16.23% (1.30%) 7.10% Sep. 30, 2004
I
I Shares Returns Before Taxes 18.39% (0.29%) 8.18% Sep. 30, 2004
529A
529A Shares Returns Before Taxes 11.31% (1.84%) 6.91% Sep. 30, 2004
529B
529B Shares Returns Before Taxes 13.17% (1.77%) 6.96% Sep. 30, 2004
529C
529C Shares Returns Before Taxes 16.21% (1.38%) 6.95% Sep. 30, 2004
R1
R1 Shares Returns Before Taxes 17.23% (1.30%) 7.05% Sep. 30, 2004
R2
R2 Shares Returns Before Taxes 17.88% (0.79%) 7.57% Sep. 30, 2004
R3
R3 Shares Returns Before Taxes 18.17% (0.55%) 7.85% Sep. 30, 2004
R4
R4 Shares Returns Before Taxes 18.37% (0.31%) 8.12% Sep. 30, 2004
A
A Shares Returns Before Taxes 11.36% (1.74%) 7.09% Sep. 30, 2004
After Taxes on Distributions A
A Shares Returns After Taxes on Distributions 11.33% (1.97%) 6.39%  
After Taxes on Distributions and Sale of Fund Shares A
A Shares Returns After Taxes on Distributions and Sale of Fund Shares 7.75% (1.52%) 5.98%  
MSCI All Country World (ex-US) Index (gross div)
Index Comparison (Reflects no deduction for fees, expenses or taxes) MSCI All Country World (ex-US) Index (gross div) 17.39% (2.44%) 7.31% Sep. 30, 2004

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your own tax situation, and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. The after-tax returns are shown for only one of the fund’s classes of shares, and after-tax returns for the fund’s other classes of shares will vary from the returns shown.