Management and Operational Risk The Fund relies on the manager's investment analysis and its selection of investments to achieve its investment objective, and the Fund is subject to the risk that the manager's assessment of an investment is wrong. There can be no assurance that the Fund will achieve the intended results and the Fund may incur significant losses. The Fund also runs the risk that deficiencies in the investment adviser's, subadviser's, or another service provider's internal systems or controls will cause losses for the Fund or impair Fund operations.
Market Risk The value of the Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock and bond markets can decline significantly in response to issuer, market, economic, industry, political, regulatory, geopolitical, public health, and other conditions, as well as investor perceptions of these conditions. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.
Preferred Stock Risk Like other equity securities, preferred stock is subject to the risk that its value may decrease based on actual or perceived changes in the business or financial condition of the issuer. In addition, changes in interest rates may adversely affect the value of a preferred stock that pays a fixed dividend. Preferred stocks are also subject to additional risks, such as potentially greater volatility and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights.
Quantitative Models Risk The portfolio managers use quantitative models as part of the idea generation process. Quantitative models are based upon many factors that measure individual securities relative to each other. Such models may not produce the intended results and can be adversely affected by errors or imperfections in the factors or the data on which measurements are based, changing sources of market return or market risk, human error, or any technical issues with the design, construction, implementation, or maintenance of the models.
Sector Risk The Fund may allocate more of its assets to particular industries or to particular economic, market, or industry sectors than to others. This could increase the volatility of the
Fund's portfolio, and the Fund's performance may be more susceptible to developments affecting issuers in those industries or sectors than if the Fund invested more broadly.
Valuation Risk The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
Performance Information
The following bar chart and table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Fund's performance from year to year for Initial Class shares. The table shows how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. Performance shown does not reflect the fees and expenses deducted under the variable life insurance or variable annuity contract through which you invest in the Fund. If these amounts were reflected, returns would be less than those shown. Past performance is not necessarily an indication of how the Fund will perform in the future.
Annual Performance
Initial Class Shares
|
Highest Quarter:
|
|
|
4Q '22,
|
|
|
19.20%
|
|
|
Lowest Quarter:
|
|
|
1Q '20,
|
|
|
-26.93%
|
|
Average Annual Total Returns
(for the periods ended December 31, 2023)
|
|
|
|
|
|
|
|
One
Year
|
|
|
|
Five
Years
|
|
|
|
Ten
Years
|
|
Initial Class
|
|
|
|
MML Foreign
Fund
|
|
|
|
|
|
16.22
|
%
|
|
|
|
|
|
|
6.11
|
%
|
|
|
|
|
|
|
2.22
|
%
|
|
|
Service
Class I
|
|
|
|
MML Foreign
Fund
|
|
|
|
|
|
15.97
|
%
|
|
|
|
|
|
|
5.83
|
%
|
|
|
|
|
|
|
1.97
|
%
|
|
|
MSCI EAFE Index (reflects no
deduction for fees or expenses)
|
|
|
|
|
|
18.24
|
%
|
|
|
|
|
|
|
8.16
|
%
|
|
|
|
|
|
|
4.28
|
%
|
|
|