Asset manager MFS Investment Management expanded its actively managed ETF lineup last week with the launch of two new funds: the MFS Blended Research Small-Mid Cap ETF (NYSE:BRSM) and the MFS Active International Value ETF (NYSE:MIVL).

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The funds mark the firm’s latest push into areas of the equity market that have started to gain traction after years of large-cap U.S. stock dominance.

Small- and mid-cap stocks have outperformed large caps so far in 2026, aided by a lower interest-rate environment and improving economic sentiment. The Russell 2500 Index has returned roughly 15% year-to-date, outpacing the approximately 8% gain posted by large-cap benchmarks such as the S&P 500 Index. At the same time, international equities have shown signs of strength this year after a decade of lagging U.S. markets, narrowing valuation gaps that had widened amid the rise of U.S. technology giants.

Key Features of the New ETFs

MFS Blended Research Small-Mid Cap ETF (BRSM)

  • Expense ratio: 0.38%
  • Targets U.S. companies and REITs within the market-cap range of the Russell 2500 Index
  • Uses MFS’s proprietary blended research methodology
  • Combines fundamental analysis — including financial condition and industry outlook — with quantitative factors such as price momentum and earnings trends
  • Generates a single blended rating that serves as the basis for portfolio construction
  • Seeks to maintain portfolio characteristics relatively close to its benchmark while pursuing active security selection

MFS Active International Value ETF (MIVL)

  • Expense ratio: 0.57%
  • Invests primarily in non-U.S. value stocks
  • May allocate a portion of assets to emerging markets
  • Not restricted by company size and can invest across the market-cap spectrum
  • Focuses on companies believed to be trading below their estimated intrinsic value
  • Maintains diversification across countries, sectors, and regions rather than tracking a traditional value benchmark

The two launches build on MFS’s growing ETF platform and follow earlier products such as the MFS Blended Research International Equity ETF (NYSE:BRIE). MIVL also becomes the firm’s third actively managed international equity ETF, further expanding its global investment offerings.

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