Feb. 28, 2026 |
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| MFS Active Short Duration Income ETF
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Risk Table - MFS Active Short Duration Income 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:
|
| 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 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. In addition, to the extent
MFS considers quantitative tools in managing the fund, such tools may not produce the intended results.
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| Debt Market Risk |
Debt Market Risk: Debt markets can be 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 instrument, issuer, or borrower, a particular type of instrument,
issuer, or borrower, a segment of the debt markets or the debt markets generally. Certain events can
have a dramatic adverse effect on debt markets and may lead to periods of high volatility and reduced
liquidity in a debt market or segment of a debt market.
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| Interest Rate Risk |
Interest
Rate Risk: In general, the price of
a debt instrument falls when interest rates rise and rises when interest rates fall. Interest rate risk
is generally greater for instruments with longer maturities or durations, or that do not pay current
interest.
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| Credit Risk |
Credit Risk: The price of a debt instrument
depends, in part, on the credit quality of the issuer, borrower, counterparty, or other entity responsible
for payment, or underlying collateral or assets and the terms of the instrument. The price of a debt
instrument can decline in response to changes in, or perceptions of, the financial condition of the issuer,
borrower, counterparty, or other entity, or underlying collateral or assets, or changes in, or perceptions
of, specific or general market, economic, industry, political, regulatory, geopolitical, environmental,
public health, and other conditions. Debt instruments may be more susceptible to downgrades or defaults
during economic downturns or similar periods of economic stress, which in turn could negatively affect
the market value and liquidity of a debt instrument. Below investment
grade quality debt instruments (commonly referred to as “high yield securities” or “junk bonds”)
can involve a substantially greater risk of default or can already be in default, and their values can
decline significantly. Below investment grade quality debt instruments are regarded as having predominantly
speculative characteristics. Below investment grade quality debt instruments tend to be more sensitive
to adverse news about the issuer, or the market or economy in general, than higher quality debt instruments.
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| Foreign Risk |
Foreign
Risk: Exposure to foreign markets through issuers 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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| 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. If MFS invests a significant percentage of the fund's assets in a single issuer
or small number of issuers, the fund’s performance could be more volatile than the performance of more
diversified funds.
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| Prepayment/Extension Risk |
Prepayment/Extension Risk: Instruments
subject to prepayment and/or extension can reduce the potential for gain for the instrument’s holders
if the instrument is prepaid and increase the potential for loss if the maturity of the instrument is
extended.
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| Derivatives Risk |
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.
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| Leveraging Risk |
Leveraging
Risk: Leverage involves investment exposure in an amount exceeding
the initial investment. Leverage can cause increased volatility by magnifying gains or losses.
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| Counterparty and Third Party Risk |
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 or willingness
to perform in accordance with the terms of the transaction.
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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.
|
| 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.
|
| 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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| MFS Active Short Muni Bond ETF
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Risk Table - MFS Active Short Muni Bond 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 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. In addition, to the extent
MFS considers quantitative tools in managing the fund, such tools may not produce the intended results.
|
| Debt Market Risk |
Debt Market Risk: Debt markets can be 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 instrument, issuer, or borrower, a particular type of instrument,
issuer, or borrower, a segment of the debt markets or the debt markets generally. Certain events can
have a dramatic adverse effect on debt markets and may lead to periods of high volatility and reduced
liquidity in a debt market or segment of a debt market.
|
| Interest Rate Risk |
Interest
Rate Risk: In general, the price of
a debt instrument falls when interest rates rise and rises when interest rates fall. Interest rate risk
is generally greater for instruments with longer maturities or durations, or that do not pay current
interest.
|
| Credit Risk |
Credit Risk: The price of a debt instrument
depends, in part, on the credit quality of the issuer, borrower, counterparty, or other entity responsible
for payment, or underlying collateral or assets and the terms of the instrument. The price of a debt
instrument can decline in response to changes in, or perceptions of, the financial condition of the issuer,
borrower, counterparty, or other entity, or underlying collateral or assets, or changes in, or perceptions
of, specific or general market, economic, industry, political, regulatory, geopolitical, environmental,
public health, and other conditions. Debt instruments may be more susceptible to downgrades or defaults
during economic downturns or similar periods of economic stress, which in turn could negatively affect
the market value and liquidity of a debt instrument. The credit
quality of, and the ability to pay principal and interest when due by, an issuer of a municipal instrument
depends on the credit quality of the entity supporting the municipal instrument, how essential any services
supported by the municipal instrument are, the sufficiency of any revenues or taxes that support the
municipal instrument, and/or the willingness or ability of the appropriate government entity to approve any appropriations necessary to support the municipal
instrument. In addition, the price of a municipal instrument also depends on its credit quality and ability
to meet the credit support obligations of any insurer or other entity providing credit support to a municipal
instrument. Below investment grade quality debt instruments (commonly
referred to as “high yield securities” or “junk bonds”) can involve a substantially greater risk
of default or can already be in default, and their values can decline significantly. Below investment
grade quality debt instruments are regarded as having predominantly speculative characteristics. Below
investment grade quality debt instruments tend to be more sensitive to adverse news about the issuer,
or the market or economy in general, than higher quality debt instruments.
|
| Municipal Risk |
Municipal
Risk: The price of a municipal instrument can be volatile and significantly affected
by adverse tax changes or court rulings, legislative or political changes, changes in specific or general
market and economic conditions and developments, and the financial condition of municipal issuers and
insurers. Because many municipal instruments are issued to finance similar projects, conditions in certain
industries can significantly affect the fund and the overall municipal market. Municipal instruments
may be more susceptible to downgrades or defaults during economic downturns or similar periods of economic
stress, which in turn could affect the market values and marketability of many or all municipal obligations
of issuers in a state, U.S. territory, or possession. In addition,
because some municipal obligations may be secured or guaranteed by banks and other institutions, the
risk associated with investments in such municipal securities could increase if the banking or financial
sector suffers an economic downturn and/or if the credit ratings of the institutions issuing the guarantee
are downgraded or at risk of being downgraded by a national rating organization. If such events occur,
the value of the security could decrease or the value could be lost entirely, and it may be difficult
or impossible to sell the security at the time and the price that normally prevails in the market.
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| Focus Risk |
Focus
Risk: The fund’s performance will be closely tied to the issuer, market, economic,
industry, political, regulatory, geopolitical, environmental, public health, and other conditions in
the states, territories, and possessions of the United States in which the fund's assets are invested.
If MFS invests a significant percentage of the fund's assets in a single state, territory, or possession,
or a small number of states, territories, or possessions, these conditions will have a significant impact
on the fund's performance and the fund's performance may be more volatile than the performance of more
geographically-diversified funds.
|
| Prepayment/Extension Risk |
Prepayment/Extension Risk:
Instruments subject to prepayment and/or extension can reduce
the potential for gain for the instrument’s holders if the instrument is prepaid and increase the potential
for loss if the maturity of the instrument is extended.
|
| Derivatives Risk |
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 |
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 |
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 or willingness
to perform in accordance with the terms of the transaction.
|
| 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.
|
| 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.
|
|