Strategy. The Fund seeks to meet its objective by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in issuers with medium market capitalizations. Massachusetts Financial Services Company (Sub-Adviser or MFS) generally defines medium market capitalization issuers as issuers with market capitalizations similar to those of issuers included in the Russell Midcap Value Index over the last 13 months at the time of purchase. As of December 31, 2024, the range of market capitalizations of the Russell Midcap Value Index was between approximately $355.11 million and $75.17 billion. MFS normally invests the Funds assets primarily in equity securities. Equity securities include common stocks, depositary receipts, equity interests in … Show more… The Fund seeks to meet its objective by investing, under normal circumstances, at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in issuers with medium market capitalizations. Massachusetts Financial Services Company (Sub-Adviser or MFS) generally defines medium market capitalization issuers as issuers with market capitalizations similar to those of issuers included in the Russell Midcap Value Index over the last 13 months at the time of purchase. As of December 31, 2024, the range of market capitalizations of the Russell Midcap Value Index was between approximately $355.11 million and $75.17 billion. MFS normally invests the Funds assets primarily in equity securities. Equity securities include common stocks, depositary receipts, equity interests in real estate investment trusts (REITs), 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 Funds assets in the stocks of companies that it believes are undervalued compared to their perceived worth (value companies). MFS may invest the Funds assets in foreign securities. MFS normally invests the Funds assets across different industries and sectors, but MFS may invest a significant percentage of the Funds assets in issuers in a single industry or sector. 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 an issuer may also be considered. Show less