Company: CIF
Filing Date: 2025-01-27
Form Type: N-CSR
Source: 0001683863-25-000338
Chunk: 45

Company: MFS INTERMEDIATE HIGH INCOME FUND
Filing Date: 2025-01-27
Form: N-CSR
Chunk 45
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 may have evaluated the information presented differently from one another, giving different weights to
various factors.  It is also important to recognize that the fee arrangements for the Fund and other MFS Funds are the result of years of review and discussion between the independent Trustees and MFS, that
certain aspects of such arrangements may receive greater scrutiny in some years than in others, and that the Trustees’ conclusions may be based, in part, on their consideration of these same arrangements during
the course of the year and in prior years.

Based on information provided by
Broadridge and MFS, the Trustees reviewed the Fund’s total return investment performance as well as the Broadridge performance universe over various time periods.  The Trustees placed particular emphasis on
the total return performance of the Fund’s common shares in comparison to the performance of funds in its Broadridge performance universe over the five-year period ended December 31, 2023, which the Trustees
believed was a long enough period to reflect differing market conditions.  The total return performance of the Fund’s common shares ranked 18th out of a total of 31 funds in the Broadridge performance
universe for the five-year period (a ranking of first place out of the total number of funds in the performance universe indicating the best performer and a ranking of last place out of the total number of funds in
the performance universe indicating the worst performer).  The total return performance of the Fund’s common shares ranked 13th out of a total of 36 funds for the one-year period and 28th out of a total of
35 funds for the three-year period ended December 31, 2023.  Given the size of the Broadridge performance universe and information previously provided by MFS regarding differences between the Fund and other funds
in its Broadridge performance universe, the Trustees also reviewed the Fund’s performance in comparison to the Bloomberg U.S. Corporate High-Yield Bond 2% Issuer Capped Index.  The Fund outperformed its
benchmark for the one-year period and underperformed its benchmark for each of the three- and five-year periods ended December 31, 2023 (one-year: 16.3% total return for the Fund versus 13.4% total return for the
benchmark; three-year: 0.2% total return for the Fund versus 2.0% total return for the benchmark; five-year: 5.0% total return for the Fund versus 5.4% total return