Mike Roberge and his team are bringing the original U.S. open-end mutual fund firm into the ETF side of the business. The folks at the 100-year-old, $626.6-billion-AUM (as of October 31) asset manager made their first five exchange-traded fund moves last week.

Michael W. "Mike" Roberge MFS Chair, CEO

Last Thursday (December 5), Roberge, chair and CEO of MFS [profile], unveiled the launch of the Boston-based firm's debut ETFs. Those first ETFs, all actively managed, are: the MFS Active Core Plus Bond ETF (MFSB on the NYSE); the MFS Active Growth ETF (MFSG), the MFS Active Intermediate Muni Bond ETF (MFSM), the MFS Active International ETF (MFSI), and the MFS Active Value ETF (MFSV). Massachusetts Financial Services Company (MFS) serves as investment advisor and administrator to the new funds.

The commencement date for MFSV, MFSI, MFSM, MFSG, and MFSB was December 5. MFSB and MFSM come with expense ratios of 34 basis points, MFSV's expense ratio is 44bps, MFSG's expense ratio is 49bps, and MFSI's expense ratio is 59bps. As of yesterday (December 11), MFSB had $27.43 million in AUM, MFSG had $27.11 million, MFSM had $25.6 million, MFSI had $25.1 million, and MFSV had $25 million.

Philipp Burgener and Joshua Marston will serve as portfolio managers for MFSB. MFSG's PM team will include: Eric Fischman, Laura Granger, and Bradford Mak. MFSM's PM team will include: Jason Kosty, Megan Poplowski, and Daniel Streppa. MFSI's PM team will include: Filipe Benzinho, Brett Fleishman, Daniel Ling, Jed Stocks, and Chris Sunderland. And MFSV's PM team will include: Katherine Cannan, Nevin Chitkara, Thomas Crowley, and Kate Mead.

Roberge puts MFS' quintuple ETF move in the context of the firm having "continually evolved" over the past 100 years. The five funds "offer this next level of vehicle," he says.

"These new active ETFs are an exciting next step in that journey. They bring the firm's capabilities to this market for the first time," Roberge states. "The ETFs give investors greater choice, allowing them to access MFS' investment capabilities across five popular investment categories: US Value, US Growth, International Equity, US Core Plus and Intermediate Muni Bond."

"These new active ETFs complement our existing lines of mutual funds, retail separately managed accounts and other investment vehicles and provide significant choice for investors building long-term, diversified portfolios," Roberge adds.

The MFS team also clarifies that their initial five ETFs are powered by "distinct, fully transparent portfolios, disclosing holdings daily." (Open-end mutual funds disclose their holdings less frequently, as do some active ETFs.)

MFSV, MFSI, MFSM, MFSG, and MFSB are series of the MFS Active Exchange Traded Funds Trust. The new funds' other service providers include: Ernst & Young LLP as independent accounting firm; MFS Fund Distributors, Inc. (MFD) as distributor; Ropes & Gray LLP as counsel; and State Street Bank and Trust Company as custodian, dividend disbursing agent, and transfer agent. 

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