<PAGE> PAGE 1
000 B000000 09/30/97
000 C000000 0000200489
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MFS SERIES TRUST V
001 B000000 811-2031
001 C000000 6179545000
002 A000000 500 BOYLSTON STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 MFS TOTAL RETURN FUND
007 C030100 N
007 C010200 2
007 C020200 MFS RESEARCH FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 MASSACHUSETTS FINANCIAL SERVICES COMPANY
008 B00AA01 A
008 C00AA01 801-17352
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02116
010 A00AA01 MASSACHUSETTS FINANCIAL SERVICES COMPANY
010 B00AA01 801-17352
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
011 A00AA01 MFS FUND DISTRIBUTORS, INC.
011 B00AA01 8-27864
011 C01AA01 BOSTON
011 C02AA01 MA
<PAGE> PAGE 2
011 C03AA01 02116
012 A00AA01 MFS SERVICE CENTER, INC.
012 B00AA01 84-1316
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02116
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
015 A00AA01 INVESTORS BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02111
015 E01AA01 X
015 A00AA02 BANK OF NEW YORK
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10286
015 E01AA02 X
015 A00AA03 CHASE MANHATTAN BANK, N.A.
015 B00AA03 S
015 C01AA03 NEW YORK
015 C02AA03 NY
015 C03AA03 10081
015 E04AA03 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 50
019 C00AA00 MASSFINSER
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001 1005
020 A000002 PERSHING DIVISION OF DLJ
020 B000002 00-0000000
020 C000002 966
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 718
020 A000004 PAINE WEBBER
020 B000004 13-2638166
020 C000004 471
020 A000005 EDWARD(AG) & SONS
020 B000005 00-0000000
020 C000005 441
020 A000006 SALOMON BROTHERS
020 B000006 00-0000000
020 C000006 429
020 A000007 GOLDMAN SACHS & CO
<PAGE> PAGE 3
020 B000007 13-5108880
020 C000007 379
020 A000008 MORGAN, J.P., EQUITIES
020 B000008 13-3224016
020 C000008 370
020 A000009 BEAR STERNS
020 B000009 13-2994290
020 C000009 355
020 A000010 SMITH BARNEY INC.
020 B000010 00-0000000
020 C000010 295
021 000000 12024
022 A000001 LEHMAN BROTHERS
022 B000001 13-2518466
022 C000001 2384081
022 D000001 958740
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002 1752632
022 D000002 946160
022 A000003 PRUDENTIAL SECURITIES
022 B000003 22-2347336
022 C000003 1826902
022 D000003 282946
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 1210183
022 D000004 710207
022 A000005 FIRST BOSTON
022 B000005 13-5659485
022 C000005 1146955
022 D000005 527119
022 A000006 GENERAL ELECTRIC CAPITAL
022 B000006 00-0000000
022 C000006 997461
022 D000006 0
022 A000007 SALOMON BROS.
022 B000007 13-3082694
022 C000007 523436
022 D000007 347065
022 A000008 HSBC SECURITIES, INC.
022 B000008 00-0000000
022 C000008 215874
022 D000008 522081
022 A000009 MORGAN STANLEY & CO INC.
022 B000009 13-2655998
022 C000009 439685
022 D000009 257409
022 A000010 UBS SECURITIES
022 B000010 13-2932996
022 C000010 269576
<PAGE> PAGE 4
022 D000010 307104
023 C000000 14639659
023 D000000 7050900
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 Y
077 I000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 NATIONAL UNION INSURANCE CO.
080 B00AA00 ICI MUTUAL
080 C00AA00 75000
081 A00AA00 Y
081 B00AA00 109
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
<PAGE> PAGE 5
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
086 A01AA00 0
086 A02AA00 0
086 B01AA00 0
086 B02AA00 0
086 C01AA00 0
086 C02AA00 0
086 D01AA00 0
086 D02AA00 0
086 E01AA00 0
086 E02AA00 0
086 F01AA00 0
086 F02AA00 0
024 000100 Y
025 A000101 SALOMON, INC.
025 B000101 13-3082694
025 C000101 D
025 D000101 19284
025 A000102 HSBC SECURITIES
025 B000102 00-0000000
025 C000102 D
025 D000102 7916
025 A000103 LEHMAN BROTHERS
025 B000103 13-2518466
025 C000103 D
025 D000103 28336
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 118294
028 A020100 11568
028 A030100 0
028 A040100 96726
028 B010100 99523
028 B020100 11585
028 B030100 0
028 B040100 86274
028 C010100 97550
028 C020100 11617
<PAGE> PAGE 6
028 C030100 0
028 C040100 90846
028 D010100 106644
028 D020100 11669
028 D030100 0
028 D040100 78592
028 E010100 85861
028 E020100 12047
028 E030100 0
028 E040100 83243
028 F010100 82259
028 F020100 12115
028 F030100 0
028 F040100 68238
028 G010100 590131
028 G020100 70601
028 G030100 0
028 G040100 503920
028 H000100 347318
029 000100 Y
030 A000100 6880
030 B000100 4.75
030 C000100 0.00
031 A000100 1023
031 B000100 0
032 000100 5857
033 000100 0
034 000100 Y
035 000100 1886
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 40
042 D000100 60
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 27578
044 000100 0
045 000100 Y
046 000100 N
047 000100 N
048 000100 0.000
048 A010100 0
<PAGE> PAGE 7
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 Y
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 N
053 C000100 Y
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
<PAGE> PAGE 8
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067 000100 Y
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 6458937
071 B000100 6208750
071 C000100 4329654
<PAGE> PAGE 9
071 D000100 143
072 A000100 12
072 B000100 146084
072 C000100 68494
072 D000100 0
072 E000100 -681
072 F000100 16191
072 G000100 221
072 H000100 0
072 I000100 5884
072 J000100 476
072 K000100 681
072 L000100 266
072 M000100 128
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 39
072 S000100 29
072 T000100 26164
072 U000100 0
072 V000100 0
072 W000100 2309
072 X000100 52388
072 Y000100 379
072 Z000100 161888
072AA000100 422225
072BB000100 0
072CC010100 422172
072CC020100 0
072DD010100 109705
072DD020100 46074
072EE000100 282185
073 A010100 0.5900
073 A020100 0.4900
073 B000100 1.0600
073 C000100 0.0000
074 A000100 761
074 B000100 0
074 C000100 210891
074 D000100 1976438
074 E000100 246456
074 F000100 2659259
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 37665
074 K000100 0
074 L000100 44691
074 M000100 75
<PAGE> PAGE 10
074 N000100 5176236
074 O000100 45691
074 P000100 448
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 17483
074 S000100 0
074 T000100 5112614
074 U010100 189051
074 U020100 100914
074 V010100 16.92
074 V020100 16.92
074 W000100 0.0000
074 X000100 277375
074 Y000100 0
075 A000100 0
075 B000100 4487405
076 000100 0.00
024 000200 Y
025 A000201 MORGAN STANLEY
025 B000201 13-2655998
025 C000201 E
025 D000201 17938
025 A000202 GOLDMAN SACHS
025 B000202 13-5108880
025 C000202 D
025 D000202 8174
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 242959
028 A020200 0
028 A030200 0
028 A040200 84228
028 B010200 195803
028 B020200 0
028 B030200 0
028 B040200 53211
028 C010200 195862
028 C020200 0
028 C030200 0
028 C040200 55076
028 D010200 267336
028 D020200 0
028 D030200 0
028 D040200 55674
<PAGE> PAGE 11
028 E010200 247092
028 E020200 0
028 E030200 0
028 E040200 87302
028 F010200 234098
028 F020200 0
028 F030200 0
028 F040200 88936
028 G010200 1383150
028 G020200 0
028 G030200 0
028 G040200 424426
028 H000200 704340
029 000200 Y
030 A000200 17001
030 B000200 5.75
030 C000200 0.00
031 A000200 2308
031 B000200 0
032 000200 14693
033 000200 0
034 000200 Y
035 000200 1733
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 44
042 D000200 56
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 20697
044 000200 0
045 000200 Y
046 000200 N
047 000200 N
048 000200 0.000
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
<PAGE> PAGE 12
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 Y
051 000200 N
052 000200 N
053 A000200 Y
053 B000200 N
053 C000200 Y
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
<PAGE> PAGE 13
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 4148743
071 B000200 2322989
071 C000200 3044183
071 D000200 76
072 A000200 12
072 B000200 5091
072 C000200 29940
072 D000200 0
072 E000200 -519
072 F000200 10296
072 G000200 252
<PAGE> PAGE 14
072 H000200 0
072 I000200 4118
072 J000200 541
072 K000200 432
072 L000200 151
072 M000200 57
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 42
072 S000200 23
072 T000200 20395
072 U000200 0
072 V000200 0
072 W000200 2820
072 X000200 39128
072 Y000200 95
072 Z000200 -4521
072AA000200 185555
072BB000200 0
072CC010200 523456
072CC020200 0
072DD010200 1507
072DD020200 23
072EE000200 107605
073 A010200 0.0300
073 A020200 0.0000
073 B000200 0.9200
073 C000200 0.0000
074 A000200 133
074 B000200 0
074 C000200 149799
074 D000200 0
074 E000200 0
074 F000200 4382427
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 18326
074 K000200 0
074 L000200 26539
074 M000200 20
074 N000200 4577244
074 O000200 23925
074 P000200 429
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 11703
<PAGE> PAGE 15
074 S000200 0
074 T000200 4541187
074 U010200 97060
074 U020200 83948
074 V010200 22.69
074 V020200 22.16
074 W000200 0.0000
074 X000200 196957
074 Y000200 0
075 A000200 0
075 B000200 3032553
076 000200 0.00
SIGNATURE JAMES O. YOST
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 021
<NAME> MFS RESEARCH FUND CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-31-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 3634383736
<INVESTMENTS-AT-VALUE> 4532226405
<RECEIVABLES> 44865250
<ASSETS-OTHER> 20395
<OTHER-ITEMS-ASSETS> 133497
<TOTAL-ASSETS> 4577245547
<PAYABLE-FOR-SECURITIES> 23925350
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12132755
<TOTAL-LIABILITIES> 36058105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3463088109
<SHARES-COMMON-STOCK> 97059972
<SHARES-COMMON-PRIOR> 52486783
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5651115)
<ACCUMULATED-NET-GAINS> 185913839
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 897836609
<NET-ASSETS> 4541187442
<DIVIDEND-INCOME> 29939818
<INTEREST-INCOME> 5091516
<OTHER-INCOME> (518749)
<EXPENSES-NET> (39033366)
<NET-INVESTMENT-INCOME> (4520781)
<REALIZED-GAINS-CURRENT> 185554597
<APPREC-INCREASE-CURRENT> 623455845
<NET-CHANGE-FROM-OPS> 804489661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1507134)
<DISTRIBUTIONS-OF-GAINS> 56495941
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65650681
<NUMBER-OF-SHARES-REDEEMED> (23898588)
<SHARES-REINVESTED> 2821097
<NET-CHANGE-IN-ASSETS> 2752346941
<ACCUMULATED-NII-PRIOR> 400233
<ACCUMULATED-GAINS-PRIOR> 107963964
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10295600
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (39127987)
<AVERAGE-NET-ASSETS> 3032553154
<PER-SHARE-NAV-BEGIN> 18.53
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 5.07
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.95)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.69
<EXPENSE-RATIO> 0.96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 022
<NAME> MFS RESEARCH FUND CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-31-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 3634383736
<INVESTMENTS-AT-VALUE> 4532226405
<RECEIVABLES> 44865250
<ASSETS-OTHER> 20395
<OTHER-ITEMS-ASSETS> 133497
<TOTAL-ASSETS> 4577245547
<PAYABLE-FOR-SECURITIES> 23925350
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12132755
<TOTAL-LIABILITIES> 36058105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3463088109
<SHARES-COMMON-STOCK> 83947722
<SHARES-COMMON-PRIOR> 37409007
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5651115)
<ACCUMULATED-NET-GAINS> 185913839
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 897836609
<NET-ASSETS> 4541187442
<DIVIDEND-INCOME> 29939818
<INTEREST-INCOME> 5091516
<OTHER-INCOME> (518749)
<EXPENSES-NET> (39033366)
<NET-INVESTMENT-INCOME> (4520781)
<REALIZED-GAINS-CURRENT> 185554597
<APPREC-INCREASE-CURRENT> 623455845
<NET-CHANGE-FROM-OPS> 804489661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23432)
<DISTRIBUTIONS-OF-GAINS> (41918137)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 54545061
<NUMBER-OF-SHARES-REDEEMED> (9937744)
<SHARES-REINVESTED> 1931398
<NET-CHANGE-IN-ASSETS> 2752346941
<ACCUMULATED-NII-PRIOR> 400233
<ACCUMULATED-GAINS-PRIOR> 107963964
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10295600
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (39127987)
<AVERAGE-NET-ASSETS> 3032553154
<PER-SHARE-NAV-BEGIN> 18.19
<PER-SHARE-NII> (0.10)
<PER-SHARE-GAIN-APPREC> 4.97
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.90)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.16
<EXPENSE-RATIO> 1.57
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 023
<NAME> MFS RESEARCH FUND CLASS C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-31-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 3634383736
<INVESTMENTS-AT-VALUE> 4532226405
<RECEIVABLES> 44865250
<ASSETS-OTHER> 20395
<OTHER-ITEMS-ASSETS> 133497
<TOTAL-ASSETS> 4577245547
<PAYABLE-FOR-SECURITIES> 23925350
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12132755
<TOTAL-LIABILITIES> 36058105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3463088109
<SHARES-COMMON-STOCK> 20738347
<SHARES-COMMON-PRIOR> 7467175
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5651115)
<ACCUMULATED-NET-GAINS> 185913839
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 897836609
<NET-ASSETS> 4541187442
<DIVIDEND-INCOME> 29939818
<INTEREST-INCOME> 5091516
<OTHER-INCOME> (518749)
<EXPENSES-NET> (39033366)
<NET-INVESTMENT-INCOME> (4520781)
<REALIZED-GAINS-CURRENT> 185554597
<APPREC-INCREASE-CURRENT> 623455845
<NET-CHANGE-FROM-OPS> 804489661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (9190644)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15371512
<NUMBER-OF-SHARES-REDEEMED> (2445437)
<SHARES-REINVESTED> 345098
<NET-CHANGE-IN-ASSETS> 2752346941
<ACCUMULATED-NII-PRIOR> 400233
<ACCUMULATED-GAINS-PRIOR> 107963964
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10295600
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (39127987)
<AVERAGE-NET-ASSETS> 3032553154
<PER-SHARE-NAV-BEGIN> 18.22
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 4.96
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.92)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.17
<EXPENSE-RATIO> 1.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 024
<NAME> MFS RESEARCH FUND CLASS I
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-31-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 3634383736
<INVESTMENTS-AT-VALUE> 4532226405
<RECEIVABLES> 44865250
<ASSETS-OTHER> 20395
<OTHER-ITEMS-ASSETS> 133497
<TOTAL-ASSETS> 4577245547
<PAYABLE-FOR-SECURITIES> 23925350
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12132755
<TOTAL-LIABILITIES> 36058105
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3463088109
<SHARES-COMMON-STOCK> 852759
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5651115)
<ACCUMULATED-NET-GAINS> 185913839
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 897836609
<NET-ASSETS> 4541187442
<DIVIDEND-INCOME> 29939818
<INTEREST-INCOME> 5091516
<OTHER-INCOME> (518749)
<EXPENSES-NET> (39033366)
<NET-INVESTMENT-INCOME> (4520781)
<REALIZED-GAINS-CURRENT> 185554597
<APPREC-INCREASE-CURRENT> 623455845
<NET-CHANGE-FROM-OPS> 804489661
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 947226
<NUMBER-OF-SHARES-REDEEMED> (94466)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2752346941
<ACCUMULATED-NII-PRIOR> 400233
<ACCUMULATED-GAINS-PRIOR> 107963964
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10295600
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (39127987)
<AVERAGE-NET-ASSETS> 3032553154
<PER-SHARE-NAV-BEGIN> 18.34
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 4.33
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.75
<EXPENSE-RATIO> 0.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 011
<NAME> MFS TOTAL RETURN FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 4143188525
<INVESTMENTS-AT-VALUE> 5093043728
<RECEIVABLES> 82355546
<ASSETS-OTHER> 75851
<OTHER-ITEMS-ASSETS> 760898
<TOTAL-ASSETS> 5176236023
<PAYABLE-FOR-SECURITIES> 45690828
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17931526
<TOTAL-LIABILITIES> 63622354
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3781191439
<SHARES-COMMON-STOCK> 189050501
<SHARES-COMMON-PRIOR> 170867867
<ACCUMULATED-NII-CURRENT> 5114906
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 376352403
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 949954921
<NET-ASSETS> 5112613669
<DIVIDEND-INCOME> 68494301
<INTEREST-INCOME> 146084288
<OTHER-INCOME> (681418)
<EXPENSES-NET> (52009027)
<NET-INVESTMENT-INCOME> 161888144
<REALIZED-GAINS-CURRENT> 422224799
<APPREC-INCREASE-CURRENT> 422172260
<NET-CHANGE-FROM-OPS> 1006285203
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (109704957)
<DISTRIBUTIONS-OF-GAINS> (182350658)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 45594446
<NUMBER-OF-SHARES-REDEEMED> (44258707)
<SHARES-REINVESTED> 16846895
<NET-CHANGE-IN-ASSETS> 1176728413
<ACCUMULATED-NII-PRIOR> 4235183
<ACCUMULATED-GAINS-PRIOR> 235692844
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16190722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52387591
<AVERAGE-NET-ASSETS> 4487405474
<PER-SHARE-NAV-BEGIN> 15.03
<PER-SHARE-NII> .60
<PER-SHARE-GAIN-APPREC> 2.94
<PER-SHARE-DIVIDEND> (.59)
<PER-SHARE-DISTRIBUTIONS> (1.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.92
<EXPENSE-RATIO> .93
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 012
<NAME> MFS TOTAL RETURN FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 4143188525
<INVESTMENTS-AT-VALUE> 5093043728
<RECEIVABLES> 82355546
<ASSETS-OTHER> 75851
<OTHER-ITEMS-ASSETS> 760898
<TOTAL-ASSETS> 5176236023
<PAYABLE-FOR-SECURITIES> 45690828
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17931526
<TOTAL-LIABILITIES> 63622354
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3781191439
<SHARES-COMMON-STOCK> 100913755
<SHARES-COMMON-PRIOR> 85490927
<ACCUMULATED-NII-CURRENT> 5114906
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 376352403
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 949954921
<NET-ASSETS> 5112613669
<DIVIDEND-INCOME> 68494301
<INTEREST-INCOME> 146084288
<OTHER-INCOME> (681418)
<EXPENSES-NET> (52009027)
<NET-INVESTMENT-INCOME> 161888144
<REALIZED-GAINS-CURRENT> 422224799
<APPREC-INCREASE-CURRENT> 422172260
<NET-CHANGE-FROM-OPS> 1006285203
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (46073857)
<DISTRIBUTIONS-OF-GAINS> (93208564)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23925156
<NUMBER-OF-SHARES-REDEEMED> (16916364)
<SHARES-REINVESTED> 8414036
<NET-CHANGE-IN-ASSETS> 1176728413
<ACCUMULATED-NII-PRIOR> 4235183
<ACCUMULATED-GAINS-PRIOR> 235692844
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16190722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52387591
<AVERAGE-NET-ASSETS> 4487405474
<PER-SHARE-NAV-BEGIN> 15.02
<PER-SHARE-NII> .50
<PER-SHARE-GAIN-APPREC> 2.95
<PER-SHARE-DIVIDEND> (.49)
<PER-SHARE-DISTRIBUTIONS> (1.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.92
<EXPENSE-RATIO> 1.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 013
<NAME> MFS TOTAL RETURN FUND CLASS C
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 4143188525
<INVESTMENTS-AT-VALUE> 5093043728
<RECEIVABLES> 82355546
<ASSETS-OTHER> 75851
<OTHER-ITEMS-ASSETS> 760898
<TOTAL-ASSETS> 5176236023
<PAYABLE-FOR-SECURITIES> 45690828
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17931526
<TOTAL-LIABILITIES> 63622354
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3781191439
<SHARES-COMMON-STOCK> 11222686
<SHARES-COMMON-PRIOR> 5540128
<ACCUMULATED-NII-CURRENT> 5114906
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 376352403
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 949954921
<NET-ASSETS> 5112613669
<DIVIDEND-INCOME> 68494301
<INTEREST-INCOME> 146084288
<OTHER-INCOME> (681418)
<EXPENSES-NET> (52009027)
<NET-INVESTMENT-INCOME> 161888144
<REALIZED-GAINS-CURRENT> 422224799
<APPREC-INCREASE-CURRENT> 422172260
<NET-CHANGE-FROM-OPS> 1006285203
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4116016)
<DISTRIBUTIONS-OF-GAINS> (6625287)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6270431
<NUMBER-OF-SHARES-REDEEMED> (1207600)
<SHARES-REINVESTED> 619727
<NET-CHANGE-IN-ASSETS> 1176728413
<ACCUMULATED-NII-PRIOR> 4235183
<ACCUMULATED-GAINS-PRIOR> 235692844
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16190722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52387591
<AVERAGE-NET-ASSETS> 4487405474
<PER-SHARE-NAV-BEGIN> 15.06
<PER-SHARE-NII> .50
<PER-SHARE-GAIN-APPREC> 2.95
<PER-SHARE-DIVIDEND> (.49)
<PER-SHARE-DISTRIBUTIONS> (1.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.96
<EXPENSE-RATIO> 1.60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000200489
<NAME> MFS SERIES TRUST V
<SERIES>
<NUMBER> 014
<NAME> MFS TOTAL RETURN FUND CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> OCT-01-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 4143188525
<INVESTMENTS-AT-VALUE> 5093043728
<RECEIVABLES> 82355546
<ASSETS-OTHER> 75851
<OTHER-ITEMS-ASSETS> 760898
<TOTAL-ASSETS> 5176236023
<PAYABLE-FOR-SECURITIES> 45690828
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17931526
<TOTAL-LIABILITIES> 63622354
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3781191439
<SHARES-COMMON-STOCK> 967229
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5114906
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 376352403
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 949954921
<NET-ASSETS> 5112613669
<DIVIDEND-INCOME> 68494301
<INTEREST-INCOME> 146084288
<OTHER-INCOME> (681418)
<EXPENSES-NET> (52009027)
<NET-INVESTMENT-INCOME> 161888144
<REALIZED-GAINS-CURRENT> 422224799
<APPREC-INCREASE-CURRENT> 422172260
<NET-CHANGE-FROM-OPS> 1006285203
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (494322)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 96039
<NUMBER-OF-SHARES-REDEEMED> (224603)
<SHARES-REINVESTED> 1095793
<NET-CHANGE-IN-ASSETS> 1176728413
<ACCUMULATED-NII-PRIOR> 4235183
<ACCUMULATED-GAINS-PRIOR> 235692844
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 16190722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52387591
<AVERAGE-NET-ASSETS> 4487405474
<PER-SHARE-NAV-BEGIN> 14.70
<PER-SHARE-NII> .48
<PER-SHARE-GAIN-APPREC> 2.23
<PER-SHARE-DIVIDEND> (.49)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.92
<EXPENSE-RATIO> .60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
