MFIAX Fees and Costs — MFS Municipal Income Fund, Class A
Data updated: 2026-08-25
The net expense ratio is 0.79%: a 0.36% management fee, a 0.25% 12b-1 fee plus 0.19% other expenses, less a 0.01% fee waiver. This share class carries a maximum front-end sales load of 4.25% and a deferred sales charge of up to 1.00%. Portfolio turnover was 12%.
MFIAX Fees and Expenses
Annual operating expenses and sales charges of MFIAX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.36% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.19% |
| Gross expense ratio | 0.80% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.79% |
| Sales charges | |
|---|---|
| Max front load | 4.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MFIAX Costs Over Time
On $10,000 invested in MFIAX, assuming 5% a year before costs, total costs come to $1,018 over 5 years, cutting the return by 1.73% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $525 | $425 | $425 |
| Fund expenses (net expense ratio 0.79%) | $79 | $248 | $432 |
| Lost growth on money paid in costs | $21 | $79 | $161 |
| Total costs | $625 | $753 | $1,018 |
| Value after costs | $9,875 | $10,824 | $11,745 |
| Impact on return, per year | 6.25% | 2.33% | 1.73% |
MFIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.4B
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
MFIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $329.4M | 17.67% |
| BofA Securities, Inc. | $277.9M | 14.90% |
| Jefferies LLC | $223.8M | 12.00% |
| RBC Capital Markets, LLC | $200.9M | 10.77% |
| Loop Capital Markets LLC | $199.0M | 10.67% |
| Morgan Stanley & Co. LLC | $136.1M | 7.30% |
| Wells Fargo Securities, LLC | $126.2M | 6.77% |
| Goldman Sachs & Co. LLC | $125.8M | 6.74% |
| B. C. Ziegler and Company | $124.9M | 6.70% |
| Piper Sandler & Co. | $120.8M | 6.48% |
MFS Municipal Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MPMNX | Class R6 | 0.47% | none |
| MIMIX | Class I | 0.54% | none |
| MMIDX | Class A1 | 0.54% | 4.25% |
| MFIAX | Class A | 0.79% | 4.25% |
| MMIGX | Class B1 | 1.29% | none |
| MMIBX | Class B | 1.54% | none |
| MMICX | Class C | 1.54% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.