Risk Table - MFS Active International Value ETF
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Risk [Text Block] |
| Principal Risks |
Principal Risks As with any exchange-traded
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:
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| Risk Lose Money [Member] |
As with any exchange-traded
fund, the fund may not achieve its objective and/or you could lose money on your investment in the fund.
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| Risk Not Insured [Member] |
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.
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| Investment Selection Risk |
Investment Selection Risk:
MFS' investment analysis, its development and use of quantitative models, and
its selection of investments 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. The quantitative models used by MFS (both proprietary and third-party)
may not produce the intended results for a variety of reasons, including the factors used in the models,
the weight placed on each factor in the models, changes from the market factors' historical trends, changing
sources of market return or market risk, and technical issues in the design, development, implementation,
application, and maintenance of the models (e.g., incomplete, stale, or inaccurate data, human error,
programming or other software issues, coding errors, and technology failures).
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| Equity Market Risk/Company Risk |
Equity
Market Risk/Company Risk: Equity markets are volatile
and can decline significantly in response to changes in, or investor perceptions of, issuer, market,
economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
These conditions can affect a single issuer or type of security, issuers within a broad market sector,
industry or geographic region, or the equity markets in general. Certain events can have a dramatic
adverse effect on equity markets and may lead to periods of high volatility in an equity market or a
segment of an equity market. The value of an investment held by the fund may decline due to factors
directly related to the issuer.
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| Value Company Risk |
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.
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| Foreign Risk |
Foreign
Risk: Exposure to foreign markets through issuers or currencies can involve additional
risks relating to market, economic, industry, political, regulatory, geopolitical, environmental, public
health, and other conditions. These factors can make foreign investments, especially those tied economically
to emerging markets or countries subject to sanctions or the threat of new or modified sanctions, more
volatile and less liquid than U.S. investments. In addition, foreign markets can react differently to
these conditions than the U.S. market.
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| Emerging Markets Risk |
Emerging Markets Risk:
Investments tied economically to emerging markets, especially frontier markets, can involve additional
and greater risks than the risks associated with investments in developed markets. Emerging markets
can have less developed
markets, greater custody and operational
risk, less developed legal, regulatory, and accounting systems, greater government involvement in the
economy, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments,
and greater political, social, geopolitical, and economic instability than developed markets.
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| Currency Risk |
Currency
Risk: The value of foreign currencies relative to the U.S. dollar fluctuates in response
to market, economic, industry, political, regulatory, geopolitical, environmental, public health, and
other conditions, and changes in currency exchange rates impact the financial condition of companies
or other issuers and may change the value in U.S. dollars of investments denominated in foreign currencies.
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| Focus Risk |
Focus Risk: Issuers in a single industry,
sector, country, or region can react similarly to market, currency, political, economic, regulatory,
geopolitical, environmental, public health, and other conditions, and the fund's performance will be
affected by the conditions in the industries, sectors, countries, and regions to which the fund is exposed.
Furthermore, investments in particular industries, sectors, countries, or regions may be more volatile
than the broader market as a whole.
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| Liquidity Risk |
Liquidity Risk:
It may be difficult to value, and it may not be possible to sell, certain investments,
types of investments, and/or investments in certain segments of the market, and the fund may have to
sell certain of these investments at prices or times that are not advantageous in order to meet redemptions
or other cash needs.
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| Fluctuation of Net Asset Value and Share Price Risk |
Fluctuation of Net Asset Value and Share Price
Risk: The net asset value (NAV) per share of the fund will generally fluctuate with
changes in the market value of the fund’s holdings. The fund’s shares can be bought and sold in
the secondary market at market prices. Disruptions to purchases and sales, the existence of extreme
market volatility, and/or a lack of an active trading market for the fund's shares may result in the
fund's shares trading significantly above (at a premium) or below (at a discount) to NAV and bid/ask
spreads may widen. Shares of the fund may trade at a larger premium or discount to the NAV than shares
of other ETFs that focus on other market segments or types of securities. In addition, in stressed market
conditions or periods of market disruption or volatility, the market for shares of the fund may become
less liquid in response to deteriorating liquidity in the markets for the fund’s underlying portfolio
holdings. If you buy fund shares when their market price is at a premium or sell fund shares when their
market prices is at a discount, you may pay more than, or receive less than, NAV, respectively.
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| Authorized Participant Risks |
Authorized
Participant Risks: Only financial institutions authorized to transact daily with
the fund (Authorized Participants) may engage in creation or redemption transactions directly with the
fund, and Authorized Participants are not obligated to do so. To the extent an Authorized Participant
cannot or is otherwise unwilling to engage in creation and redemption transactions, and no other Authorized
Participant engages in such transactions, shares of the fund may trade at a significant discount or premium
to NAV, experience wider intraday bid/ask spreads, and may face trading halts and/or delisting from the
exchange.
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| Trading Issues Risk |
Trading Issues Risk: There can be no assurance
that an active trading market for the fund’s shares will develop or be maintained. In addition, trading
of the fund’s shares may be halted or become less liquid. Shares of the fund, similar to shares of
other issuers listed on a stock exchange, may be sold short and are therefore subject to the risk of
increased volatility and price decreases associated with being sold short. Most
fund investors will buy and sell fund shares on the listing exchange or on another secondary market.
When buying or selling shares of the fund, investors typically will pay brokerage commissions or other
charges imposed by financial intermediaries as determined by that financial intermediary.
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| Cash Transactions Risk |
Cash Transactions
Risk: Unlike certain ETFs that distribute portfolio securities entirely in-kind, the
fund may effect some or all creations and redemptions using cash, rather than in-kind securities. As
a result, an investment in the fund may be less tax-efficient than an investment in an ETF that distributes
portfolio securities entirely in-kind.
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Risk Table - MFS Blended Research Small-Mid Cap ETF
|
Risk [Text Block] |
| Principal Risks |
Principal Risks As with any exchange-traded
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:
|
| Risk Lose Money [Member] |
As with any exchange-traded
fund, the fund may not achieve its objective and/or you could lose money on your investment in the fund.
|
| Risk Not Insured [Member] |
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.
|
| Investment Selection Risk |
Investment Selection Risk:
MFS' investment analysis, its development and use of quantitative models, and
its selection of investments 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. The quantitative models used by MFS (both proprietary and third-party)
may not produce the intended results for a variety of reasons, including the factors used in the models,
the weight placed on each factor in the models, changes from the market factors' historical trends, changing
sources of market return or market risk, and technical issues in the design, development, implementation,
application, and maintenance of the models (e.g., incomplete, stale, or inaccurate data, human error,
programming or other software issues, coding errors, and technology failures).
|
| Equity Market Risk/Company Risk |
Equity
Market Risk/Company Risk: Equity markets are volatile
and can decline significantly in response to changes in, or investor perceptions of, issuer, market,
economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
These conditions can affect a single issuer or type of security, issuers within a broad market sector,
industry or geographic region, or the equity markets in general. Certain events can have a dramatic
adverse effect on equity markets and may lead to periods of high volatility in an equity market or a segment of an equity market.
The value of an investment held by the fund may decline due to factors directly related to the issuer.
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| Growth Company Risk |
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.
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| Value Company Risk |
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.
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| Small to Medium Cap Risk |
Small to Medium Cap Risk: The
stocks of small to medium cap companies can be more volatile and their shares can be less liquid than
those of larger companies.
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| Investment Strategy Risk |
Investment Strategy Risk:
There is no assurance that the fund's predicted tracking error will equal its
target predicted tracking error at any point in time or consistently for any period of time, or that
the fund's predicted tracking error and actual tracking error will be similar. The fund's strategy to
target a predicted tracking error of approximately 2% compared to the Russell 2500 Index and to blend
fundamental and quantitative research may not produce the intended results. In addition, MFS' fundamental
research is not available for all issuers.
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| Foreign Risk |
Foreign Risk:
Exposure to foreign markets through issuers or currencies can involve additional risks relating to market,
economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
These factors can make foreign investments, especially those tied economically to countries with developing
economies or countries subject to sanctions or the threat of new or modified sanctions, more volatile
and less liquid than U.S. investments. In addition, foreign markets can react differently to these conditions
than the U.S. market.
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| REITs Risk |
REITs Risk: The risks
of investing in REITs include certain risks associated with the direct ownership of real estate and the
real estate industry in general. These include risks related to general, regional and local economic
conditions; difficulties in valuing and disposing of real estate; fluctuations in interest rates and
property tax rates; shifts in zoning laws, environmental regulations and other governmental action; cash
flow dependency; increased operating expenses; lack of availability of mortgage funds; losses due to
natural disasters; overbuilding; losses due to casualty or condemnation; changes in property values and
rental rates; the management skill and creditworthiness of the REIT manager; and other factors. The
securities of smaller real estate-related issuers can be more volatile and less liquid than securities
of larger issuers and their issuers can have more limited financial resources.
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| Focus Risk |
Focus Risk:
Issuers in a single industry, sector, country, or region can react similarly to
market, currency, political, economic, regulatory, geopolitical, environmental, public health, and other
conditions, and the fund's performance will be affected by the conditions in the industries, sectors,
countries, and regions to which the fund is exposed. Furthermore, investments in particular industries,
sectors, countries, or regions may be more volatile than the broader market as a whole.
|
| Liquidity Risk |
Liquidity
Risk: It may be difficult to value, and it may not be possible to
sell, certain investments, types of investments, and/or investments in certain segments of the market,
and the fund may have to sell certain of these investments at prices or times that are not advantageous
in order to meet redemptions or other cash needs.
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| Capacity Risk |
Capacity
Risk: The markets and securities in which the fund primarily invests may, at times,
have limited capacity, and as an ETF, the fund cannot be closed to new investors as a means of managing
capacity. During periods of capacity constraints, the implementation and execution of the fund’s strategy,
including the portfolio securities purchased, held, and sold by the fund, may change, and capacity limitations
may negatively impact the performance of the fund.
|
| Fluctuation of Net Asset Value and Share Price Risk |
Fluctuation
of Net Asset Value and Share Price Risk: The net asset value (NAV) per share of the
fund will generally fluctuate with changes in the market value of the fund’s holdings. The fund’s
shares can be bought and sold in the secondary market at market prices. Disruptions to purchases and
sales, the existence of extreme market volatility, and/or a lack of an active trading market for the
fund's shares may result in the fund's shares trading significantly above (at a premium) or below (at
a discount) to NAV and bid/ask spreads may widen. Shares of the fund may trade at a larger premium or
discount to the NAV than shares of other ETFs that focus on other market segments or types of securities.
In addition, in stressed market conditions or periods of market disruption or volatility, the market
for shares of the fund may become less liquid in response to deteriorating liquidity in the markets for
the fund’s underlying portfolio holdings. If you buy fund shares when their market price is at a premium
or sell fund shares when their market prices is at a discount, you may pay more than, or receive less
than, NAV, respectively.
|
| Authorized Participant Risks |
Authorized Participant Risks: Only
financial institutions authorized to transact daily with the fund (Authorized Participants) may engage
in creation or redemption transactions directly with the fund, and Authorized Participants are not obligated
to do so. To the extent an Authorized Participant cannot or is otherwise unwilling to engage in creation
and redemption transactions, and no other Authorized Participant engages in such transactions, shares
of the fund may trade at a significant discount or premium to NAV, experience wider intraday bid/ask
spreads, and may face trading halts and/or delisting from the exchange.
|
| Trading Issues Risk |
Trading
Issues Risk: There can be no assurance that an active trading market for
the fund’s shares will develop or be maintained. In addition, trading of the fund’s shares may be
halted or become less liquid. Shares of the fund, similar to shares of other issuers listed on a stock
exchange, may be sold short and are therefore subject to the risk of increased volatility and price decreases
associated with being sold short. Most fund investors will buy
and sell fund shares on the listing exchange or on another secondary market. When buying or selling shares
of the fund, investors typically will pay brokerage commissions or other charges imposed by financial
intermediaries as determined by that financial intermediary.
|
| Cash Transactions Risk |
Cash Transactions
Risk: Unlike certain ETFs that distribute portfolio securities entirely in-kind, the
fund may effect some or all creations and redemptions using cash, rather than in-kind securities. As
a result, an investment in the fund may be less tax-efficient than an investment in an ETF that distributes
portfolio securities entirely in-kind.
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