Dec. 31, 2024 |
MFS Growth Series
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MFS®
Growth Series Summary
of Key Information
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Investment Objective
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The fund’s
investment objective is to seek capital appreciation.
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Fees and Expenses
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This
table describes the fees and expenses that you may pay when you hold shares of the fund. If the fees
and expenses imposed by the insurance company that issued your variable contracts or other eligible investor
through which the fund is offered were included, your expenses would be higher.
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage
of the value of your investment):
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Example
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This example is intended to help you compare the cost of investing
in the fund with the cost of investing in other mutual funds. If the fees and expenses imposed by the
insurance company that issued your variable contracts or other eligible investor through which an investment
in the fund is made were included, your expenses would be higher. The example
assumes that: you invest $10,000 in the fund for the time periods indicated and you redeem your shares
at the end of the time periods; your investment has a 5% return each year; and the fund’s operating
expenses remain the same.
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Although your actual costs will likely be higher
or lower, under these assumptions your costs would be:
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Expense Example - MFS Growth Series - USD ($)
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Initial Class Shares |
Service Class Shares |
1 Year |
$ 74
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$ 99
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3 Years |
232
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311
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5 Years |
405
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541
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10 Years |
$ 906
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$ 1,200
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Portfolio
Turnover
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The fund pays transaction costs, such as commissions, when
it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs. These transaction costs, which are not reflected in “Annual Fund
Operating Expenses” or in the “Example,” affect the fund’s performance. During the most recent
fiscal year, the fund’s portfolio turnover rate was 33% of the average value of its portfolio.
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Principal
Investment Strategies
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MFS (Massachusetts Financial Services Company,
the fund's investment adviser) normally invests the fund’s assets primarily in equity securities. Equity
securities include common stocks, depositary receipts, and other securities that represent an ownership
interest (or right to acquire an ownership interest) in a company or other issuer. MFS
focuses on investing the fund’s assets in the stocks of companies it believes have above average potential
with respect to the rate and duration of earnings growth compared to other companies (growth companies). While MFS may invest the fund’s assets in securities of companies of any size,
MFS primarily invests in securities of companies with large capitalizations. MFS
may invest the fund’s assets in foreign securities. MFS normally
invests the fund's assets across different industries and sectors, but MFS may invest a significant percentage
of the fund's assets in issuers in a single industry or sector. MFS may
invest a significant percentage of the fund’s assets in a single issuer or a small number of issuers. MFS uses an active bottom-up investment approach to buying and selling investments
for the fund. Investments are selected primarily based on fundamental analysis of individual issuers.
Quantitative screening tools that systematically evaluate issuers may also be considered.
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Principal
Risks
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Risk Table - MFS Growth Series
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Risk [Text Block] |
Principal Risks |
Principal
Risks As with any mutual fund, the fund may not achieve its objective
and/or you could lose money on your investment in the fund. An investment in the fund is not a bank deposit
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental
agency. The principal risks of investing in the fund are:
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Risk Lose Money [Member] |
As with any mutual fund, the fund may not achieve its objective
and/or you could lose money on your investment in the fund.
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Risk Not Insured [Member] |
An investment in the fund is not a bank deposit
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental
agency.
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Investment Selection Risk |
Investment
Selection Risk: MFS' investment analysis and its selection of investments
may not produce the intended results and/or can lead to an investment focus that results in the fund
underperforming other funds with similar investment strategies and/or underperforming the markets in
which the fund invests. In addition, to the extent MFS considers quantitative tools in managing the
fund, such tools may not produce the intended results.
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Equity Market Risk/Company Risk |
Equity
Market Risk/Company Risk: Equity markets are volatile
and can decline significantly in response to changes in, or investor perceptions of, issuer, market,
economic, industry, political, regulatory, geopolitical, environmental, public health, and other conditions.
These conditions can affect a single issuer or type of security, issuers within a broad market sector,
industry or geographic region, or the equity markets in general. Certain events can have a dramatic
adverse effect on equity markets and may lead to periods of high volatility in an equity market or a
segment of an equity market. The value of an investment held by the fund may decline due to factors
directly related to the issuer.
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Growth Company Risk |
Growth Company Risk:
The stocks of growth companies can be more sensitive to the company’s earnings and more volatile than
the market in general.
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Foreign Risk |
Foreign Risk: Exposure
to foreign markets through issuers or currencies can involve additional risks relating to market, economic,
industry, political, regulatory, geopolitical, environmental, public health, and other conditions. These
factors can make foreign investments, especially those tied economically to countries with developing
economies or countries subject to sanctions or the threat of new or modified sanctions, more volatile
and less liquid than U.S. investments. In addition, foreign markets can react differently to these conditions
than the U.S. market.
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Focus Risk |
Focus Risk: Issuers
in a single industry, sector, country, or region can react similarly to market, currency, political,
economic, regulatory, geopolitical, environmental, public health, and other conditions, and the fund's
performance will be affected by the conditions in the industries, sectors, countries, and regions to
which the fund is exposed. If MFS invests a significant
percentage of the fund's assets in a single issuer or small number of issuers, the fund’s performance
could be more volatile than the performance of more diversified funds.
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Liquidity Risk |
Liquidity
Risk: It may be difficult to value, and it may not be possible to
sell, certain investments, types of investments, and/or investments in certain segments of the market,
and the fund may have to sell certain of these investments at prices or times that are not advantageous
in order to meet redemptions or other cash needs.
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Large Shareholder Risk |
Large Shareholder
Risk: From time to time, shareholders of the fund (which may include institutional investors,
financial intermediaries, or other MFS funds) may make relatively large redemptions or purchases of fund
shares. These transactions may cause the fund to sell securities or invest additional cash, as the case
may be, at disadvantageous prices. Redemptions of a large number of shares also may increase transaction
and other costs or have adverse tax consequences for shareholders of the fund by requiring a sale of
portfolio securities. Purchases of a large number of shares may adversely affect the fund's performance
to the extent that it takes time to invest new cash and the fund maintains a larger cash position than
it ordinarily would.
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Performance Information
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The bar
chart and performance table below are intended to provide some indication of the
risks of investing in the fund by showing changes in the fund’s performance over time and how the fund's
performance over time compares with that of (i) a broad measure of market performance
and (ii) the performance of an additional index that the adviser believes more closely reflects the market
segments in which the fund invests. The fund’s past performance
does not necessarily indicate how the fund will perform in the future. Updated performance is available
at mfs.com or by calling 1-877-411-3325. If the fees
and expenses imposed by the insurance company that issued your variable contracts or other eligible investor
through which an investment in the fund is made were included, they would reduce the returns shown.
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Initial Class Bar Chart.
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The total return for the three-month period ended March 31,
2025, was (8.95)%. During the period(s) shown in the bar chart, the highest quarterly return was 25.19%
(for the calendar quarter ended June 30, 2020) and the lowest quarterly return was (19.44)% (for the
calendar quarter ended June 30, 2022).
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Performance Table.
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Average Annual Total Returns (For the Periods Ended December
31, 2024)
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