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MFS SERIES TRUST XIII
2026-08-31
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>122</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.18<span>%</span></td>
</tr>
</table>
122
0.0118
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class A shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.48%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class A over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. This graph includes the deduction of the maximum applicable sales charge.</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2468633.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">A without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.48<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.49<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">4.16<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">A with initial sales charge (5.75%)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">1.30<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.65<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.54<span>%</span></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
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<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
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<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
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A without sales charge
0.0748
-0.0149
0.0416
A with initial sales charge (5.75%)
0.0130
-0.0265
0.0354
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/a</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
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<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
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<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">B</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>199</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.93<span>%</span></td>
</tr>
</table>
199
0.0193
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class B shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">6.70%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
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<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
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<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class B over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2468727.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">B without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">6.70<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.22<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">B with CDSC (declining over six years from 4% to 0%)<sup style="font-size: smaller; vertical-align: super;">×</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">2.70<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.58<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">×</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Assuming redemption at the end of the applicable period.</div>
</td>
</tr>
</table>
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">CDSC – Contingent Deferred Sales Charge.</div>
B without sales charge
0.0670
-0.0222
0.0338
B with CDSC (declining over six years from 4% to 0%)
0.0270
-0.0258
0.0338
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/b</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">C</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>200</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.93<span>%</span></td>
</tr>
</table>
200
0.0193
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class C shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">6.76%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class C over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2468821.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">C without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">6.76<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.22<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">C with CDSC (1% for 12 months)<sup style="font-size: smaller; vertical-align: super;">×</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">5.76<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.22<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">×</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Assuming redemption at the end of the applicable period.</div>
</td>
</tr>
</table>
C without sales charge
0.0676
-0.0222
0.0338
C with CDSC (1% for 12 months)
0.0576
-0.0222
0.0338
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/c</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">I</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>97</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">0.93<span>%</span></td>
</tr>
</table>
97
0.0093
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class I shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.75%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
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<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class I over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2468915.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">I without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.75<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.24<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">4.42<span>%</span></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
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<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
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<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
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I without sales charge
0.0775
-0.0124
0.0442
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/i</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">R1</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>200</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.93<span>%</span></td>
</tr>
</table>
200
0.0193
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class R1 shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">6.76%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class R1 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2469009.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">R1 without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">6.76<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(2.21<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
</table>
R1 without sales charge
0.0676
-0.0221
0.0338
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/r1</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">R2</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>148</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.43<span>%</span></td>
</tr>
</table>
148
0.0143
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class R2 shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.26%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class R2 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2469103.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">R2 without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.26<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.74<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.90<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
</table>
R2 without sales charge
0.0726
-0.0174
0.0390
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/r2</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">R3</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>122</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">1.18<span>%</span></td>
</tr>
</table>
122
0.0118
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
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<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class R3 shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.49%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class R3 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2469197.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">R3 without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.49<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.48<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">4.16<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
</table>
R3 without sales charge
0.0749
-0.0148
0.0416
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/r3</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
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<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">R4</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>98</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">0.94<span>%</span></td>
</tr>
</table>
98
0.0094
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class R4 shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.78%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class R4 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2469291.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">R4 without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.78<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.24<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">4.41<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
</table>
R4 without sales charge
0.0778
-0.0124
0.0441
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/r4</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
MFS® Global Real Estate Fund
This annual shareholder report contains important information about MFS Global Real Estate Fund for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the fund at <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-weight: normal; font-size: 11pt;">funds.mfs.com</span>. You can also request this information by contacting us at 1‑800‑225‑2606 or by sending an e-mail request to orderliterature@mfs.com.
funds.mfs.com
1‑800‑225‑2606
orderliterature@mfs.com
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND EXPENSES</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(126, 45, 64); font-size: 12pt; text-align: left; margin: 0px 0px 6pt 0px;">What were the fund costs for the last year?</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;">(based on a hypothetical $10,000 investment)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; vertical-align: bottom; font-style: italic; font-size: 10pt; text-align: center; color: rgb(0, 0, 0); width: 533pt; position: absolute; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 2pt 3pt 0 3pt;"></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Class Name</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; padding: 0 3pt 0 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; font-weight: normal; text-align: center; vertical-align: middle; border-right-color: initial; border-right-style: none; border-right-width: initial; padding: 0 3pt 0 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-weight: normal; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">R6</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;"><span style="float: none;">$</span>88</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: center; vertical-align: middle; padding: 0 3pt 0 3pt;">0.85<span>%</span></td>
</tr>
</table>
88
0.0085
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 10pt 0px 3pt 0px;">MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -2pt; margin-bottom: 0px; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">For the twelve months ended August 31, 2026, Class R6 shares of the MFS Global Real Estate Fund (fund) provided a total return of <span style="white-space: nowrap;">7.83%</span>, at net asset value. This compares with a return of <span style="white-space: nowrap;">22.35%</span> for the fund’s benchmark, the MSCI All Country World Index (net div). The fund's other benchmark, the FTSE EPRA Nareit Developed Real Estate Index (net div), generated a return of <span style="white-space: nowrap;">9.28%</span>.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Global equity markets reached record levels during the period, withstanding considerable volatility amid tariffs, geopolitical conflict and high levels of uncertainty. A new geopolitical event distressed markets as US and Israeli forces launched strikes against Iran, disrupting Mideast oil and natural gas exports.<span style="white-space: nowrap;"> </span>During the period, renewed focus on defense and infrastructure spending brightened the economic outlook in Europe while in Japan, the election of a pro-growth prime minister sent stocks to new highs. Optimism over artificial intelligence remained high globally.<span style="white-space: nowrap;"> </span></div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">While the US Supreme Court struck down part of the Trump administration’s tariff strategy, the administration began deploying other authorities to largely replace the ones that were ruled unconstitutional. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Higher energy prices and the lingering impact from tariffs kept inflation elevated in the US, prompting the Federal Reserve to end its easing cycle. Both the European Central Bank and the Bank of Japan raised rates toward the end of the period. </div>
</li>
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">In fixed income markets, previously range-bound global bond yields climbed following the February 2026 onset of the conflict in the Middle East and as investors appeared to price in greater fiscal and monetary uncertainty. During the Iran war, global credit spreads widened modestly before stabilizing near pre-conflict levels, supported by strong demand and resilient underlying fundamentals. Similarly, US rate volatility (as measured by the Merrill Lynch Option Volatility Estimate (MOVE) Index) rose from intra-period lows before retracting back near prior levels.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top contributors to performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">The fund's underweight position in Germany and avoidance of investments in Sweden benefited relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in the United Kingdom and favorable stock selection within France also supported relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid; margin-top: -1pt; border: 1pt solid rgb(128, 128, 128);">
<ul style="break-inside: avoid; padding: 0; margin: -4pt 0 5pt 0;">
<li style="font-weight: 400; padding-left: 2pt; margin-top: 6pt; margin-left: 16pt; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: disc; font-size: 10pt; line-height: 11pt; padding-right: 6pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Top detractors from performance relative to the FTSE EPRA Nareit Developed Real Estate Index:</div>
<ul style="break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">Stock selection within Belgium, Hong Kong, and Japan weighed on the fund's relative performance.</div>
</li>
<li style="font-weight: 400; font-family: 'Arial'; color: rgb(0, 0, 0); list-style-type: circle; font-size: 10pt; line-height: 11pt; padding-right: 6pt; padding-left: 0; margin-left: 16pt;">
<div style="font-weight: 400; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin: 0px;">An overweight position in Australia also held back relative returns.</div>
</li>
</ul>
</li>
</ul>
</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND PERFORMANCE</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;"><b> <i>The fund’s past performance is not a good predictor of the fund’s future performance. </i> </b>The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The graph and table below assume reinvestment of dividends and capital gain distributions.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Growth of a Hypothetical $10,000 Investment</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This graph shows the performance of a hypothetical $10,000 investment in Class R6 over a ten year period or since inception, if shorter, in comparison to (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests. </div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_2469385.jpg" style="display: block; width: 540pt; margin-right: auto; margin-left: auto;"/> </div>
The fund’s past performance is not a good predictor of the fund’s future performance.
The graph and table below do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">Average Annual Total Returns through 8/31/26</div>
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">This table shows the average annual total returns of the class of shares noted for the periods shown, both with (if any) and without sales charges. It also shows the average annual total returns of (i) a broad measure of market performance and (ii) an additional index that MFS believes more closely reflects the market segments in which the fund invests, over the same periods.</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Share Class</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">1-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">5-yr</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: right; padding: 0 3pt 0 3pt;">10-yr</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">R6 without sales charge</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">7.83<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">(1.16<span>)</span><span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">4.51<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: bold; color: rgb(0, 0, 0); border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; font-size: 10pt; text-align: left; padding: 0 3pt 0 3pt;">Comparative Benchmark(s)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: middle; text-align: right; border-right-color: initial; border-right-style: none; border-right-width: initial; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">MSCI All Country World Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">22.35<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">10.88<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">12.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: rgb(128, 128, 128); border-top-style: solid; border-top-width: 1pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: left; border-left-color: rgb(128, 128, 128); border-left-style: solid; border-left-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">FTSE EPRA Nareit Developed Real Estate Index (net div) ∆</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">9.28<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">0.57<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; text-align: right; white-space: nowrap; border-right-color: rgb(128, 128, 128); border-right-style: solid; border-right-width: 1pt; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; padding: 0 3pt 0 3pt;">3.04<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-bottom: 10pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-size: 8pt; font-style: normal; height: auto; border: initial none initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 6pt; font-weight: normal; border-left-color: initial; border-left-style: none; border-left-width: initial; text-align: left; vertical-align: top; width: 18pt; padding: 0;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; vertical-align: super; font-size: 8pt; margin: 3pt 0px 0px 0px;">∆</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 7.5pt; border-right-color: initial; border-right-style: none; border-right-width: initial; text-align: left; vertical-align: top; padding: 0 0 0 5pt;">
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-size: 8pt; margin: 3pt 0px 0px 0px;">Source: FactSet Research Systems Inc.</div>
</td>
</tr>
</table>
R6 without sales charge
0.0783
-0.0116
0.0451
MSCI All Country World Index (net div)
0.2235
0.1088
0.1258
FTSE EPRA Nareit Developed Real Estate Index (net div)
0.0928
0.0057
0.0304
<div style="font-family: 'arial'; font-size: 11pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px 0px 10pt 0px;">Visit <span style="text-decoration-line: underline; color: rgb(45, 126, 201); font-family: 'arial'; font-size: 11pt; font-weight: normal;">mfs.com/perf/r6</span> for more recent performance information.</div>
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">FUND STATISTICS AS OF 8/31/26</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Net Assets ($):</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">1,870,733,487</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Total Management Fee ($)#:</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">17,566,558</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-top-color: initial; border-top-style: none; border-top-width: initial; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); text-align: left; font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; padding: 0 3pt 0 3pt;">Total Number of Holdings:</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 72pt; text-align: right; padding: 0 3pt 0 3pt;">57</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-weight: bold; text-align: left; font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; border-left-color: initial; border-left-style: none; border-left-width: initial; width: 178pt; font-weight: normal; text-align: left; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; padding: 0 3pt 0 3pt;">Portfolio Turnover Rate (%):</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 9pt; width: 72pt; font-weight: normal; text-align: right; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 0 3pt 0 3pt;">41</td>
</tr>
</table>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;"><i># </i> Includes the effect of any management fee waivers, if applicable.</div>
<div style="font-family: 'arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; margin: 0px 0px 6pt 0px;">Where the fund holds derivatives, they are not included in the total number of portfolio holdings.</div>
1870733487
17566558
57
0.41
<div style="font-family: 'arial'; font-size: 11.52pt; font-weight: bold; color: rgb(126, 45, 64); margin: 0px 0px 3pt 0px;">PORTFOLIO COMPOSITION (BASED ON TOTAL INVESTMENTS AS OF 8/31/26)</div>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Portfolio structure</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Equities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">96.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Money Market Funds</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; padding: 2pt 3pt 2pt 3pt;">Purchased Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; width: 50pt; white-space: nowrap; padding: 2pt 3pt 2pt 3pt;">0.5<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 12pt 0px 3pt 0px;"><b>Issuer country weightings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United States</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">67.6<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Australia</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.1<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Japan</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">7.7<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">United Kingdom</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">6.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">France</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Hong Kong</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.4<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Singapore</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Belgium</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">1.8<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; vertical-align: bottom; width: auto; padding: 2pt 2pt 2pt 3pt;">Canada</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">0.2<span>%</span></td>
</tr>
</table>
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.960
0.035
0.005
0.676
0.081
0.077
0.068
0.034
0.024
0.020
0.018
0.002
<div style="font-family: 'arial'; color: rgb(0, 0, 0); letter-spacing: normal; font-size: 10pt; text-align: left; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>Top ten holdings</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt; border-top-color: initial; border-top-style: none; border-top-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Prologis, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">8.0<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Equinix, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">5.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Simon Property Group, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.9<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Goodman Group, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Digital Realty Trust, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Ventas, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">3.3<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Rexford Industrial Realty, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">BXP, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.5<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Extra Space Storage, Inc., REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: 16pt; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; text-align: left; width: auto; padding: 2pt 2pt 2pt 3pt;">Unibail-Rodamco-Westfield, REIT</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: right; vertical-align: bottom; white-space: nowrap; width: 45pt; padding: 2pt 3pt 2pt 0;">2.2<span>%</span></td>
</tr>
</table>
0.080
0.053
0.039
0.035
0.033
0.033
0.025
0.025
0.022
0.022
Source: FactSet Research Systems Inc.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Includes the effect of any management fee waivers, if applicable.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Assuming redemption at the end of the applicable period.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.
Assuming redemption at the end of the applicable period.
Source: FactSet Research Systems Inc.
Includes the effect of any management fee waivers, if applicable.