# EDGAR Filing Document

**Accession Number:** 0000887340
**File Stem:** 0000887340-25-000006
**Filing Date:** 2025-11
**Character Count:** 7419
**Document Hash:** a79c39f16d39690bb9bc143036ae37ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000887340-25-000006.hdr.sgml**: 20251104

**ACCESSION NUMBER**: 0000887340-25-000006

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20251104

**DATE AS OF CHANGE**: 20251104

**EFFECTIVENESS DATE**: 20251104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW YORK LIFE INVESTMENTS VP FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000887340

**ORGANIZATION NAME:**
- **EIN:** 133186036
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-86082
- **FILM NUMBER:** 251448202

**BUSINESS ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125767000

**MAIL ADDRESS:**
- **STREET 1:** 51 MADISON AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP FUNDS TRUST
- **DATE OF NAME CHANGE:** 20110429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAINSTAY VP SERIES FUND INC
- **DATE OF NAME CHANGE:** 20010518

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW YORK LIFE MFA SERIES FUND INC
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### NYLI VP S&P 500 Index Portfolio (Series ID: S000009443)

---

|  |  |
|:---|:---|
| Class Name    | Class ID   |
| Initial Class | C000025816 |
| Service Class | C000025817 |

---

## Series and Classes Contracts Data

### NYLI VP S&P 500 Index Portfolio (Series ID: S000009443)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000025816 | Initial Class |  |
| C000025817 | Service Class |  |

?xml version='1.0' encoding='ASCII'?

**NEW YORK LIFE INVESTMENTS VP FUNDS TRUST**

NYLI VP S&P 500<sup>®</sup> Index Portfolio

(the "Portfolio")

Supplement dated November 4, 2025 ("Supplement")

to the Prospectus, Summary Prospectus, and Statement of Additional Information, each dated May 1, 2025, as supplemented

*Capitalized terms and certain other terms used in this Supplement, unless otherwise defined in this Supplement, have the meanings assigned to them in the Prospectus, Summary Prospectus, and Statement of Additional Information.*

**Effective immediately, the Portfolio is modifying its diversification policy under the Investment Company Act of 1940, as amended (the "1940 Act"), to reflect that the Portfolio intends to be diversified in approximately the same proportion as the Portfolio's benchmark index is diversified. The investment objective of the Portfolio will continue to be to seek investment results that correspond to the total return performance (reflecting reinvestment of dividends) of common stocks in the aggregate, as represented by the S&P 500<sup>®</sup> Index. The Portfolio may become "non-diversified," as defined in the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Portfolio's benchmark index. Shareholder approval will not be sought if the Portfolio crosses from diversified to non-diversified status under such circumstances.**

Effective immediately:

*Summary Prospectus and Prospectus* 

1. The following paragraph is added to the end of the section entitled "Principal Investment Strategies":

The Portfolio is classified as a diversified investment company, as defined under the Investment Company Act of 1940, as amended (the "1940 Act"). However, the Portfolio may become non-diversified under the 1940 Act without the approval of shareholders solely as a result of a change in relative market capitalization or index weighting of one or more constituents of its benchmark index, the S&P 500<sup>®</sup> Index, which it seeks to track.

2. The following is added to the section entitled "Principal Risks":

**Non-Diversification Risk:** The Portfolio is classified as a diversified open-end management investment company, as defined under the Investment Company Act of 1940, as amended (the "1940 Act"). However, the Portfolio may become non-diversified under the 1940 Act without the approval of shareholders solely as a result of a change in relative market capitalization or index weighting of one or more constituents of its benchmark index, the S&P 500<sup>®</sup> Index, which the Portfolio seeks to track. A non-diversified fund may have a significant portion of its investments in a smaller number of issuers than a diversified fund. Having a larger percentage of assets in a smaller number of issuers makes a non-diversified fund more susceptible to the risk that one single event or occurrence can have a significant adverse impact upon the Portfolio.

#### -- End of Supplement Data --
3. The chart in the section entitled "More About Investment Strategies and Risks" in the Prospectus is amended to indicate that Non-Diversification Risk is a principal risk of the Portfolio. Additionally, the paragraph entitled "Non-Diversification Risk" is deleted and replaced in its entirety with the following:

#### Non-Diversification Risk
NYLI VP Fidelity Institutional AM Utilities Portfolio is a non-diversified, open-end management investment company registered under the 1940 Act. Additionally, the NYLI VP S&P 500<sup>®</sup> Index Portfolio is a diversified investment company registered under the 1940 Act but may become non-diversified without the approval of shareholders solely as a result of a change in relative market capitalization or index weighting of one or more constituents of its benchmark index, the S&P 500<sup>®</sup> Index, which it seeks to track.

A non-diversified Portfolio may invest a greater portion of its assets in a more limited number of issuers than a diversified Portfolio. A non-diversified Portfolio may select its investments from a relatively small pool of issuers together with securities issued by any newly public issuers consistent with its stated investment objective and policies. An investment in a non-diversified Portfolio may present greater risk to an investor than an investment in a diversified Portfolio because changes in the financial condition or market assessment of a single issuer or small number of issuers may cause greater fluctuations in the value of the Portfolio's shares.

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*Statement of Additional Information*

4. The second paragraph in the section entitled "New York Life Investments VP Funds Trust" on page 1 of the Statement of Additional Information is amended to add the following:

The NYLI VP S&P 500<sup>®</sup> Index Portfolio intends to be diversified in approximately the same proportion as its benchmark index is diversified. The NYLI VP S&P 500<sup>®</sup> Index Portfolio may become non-diversified, as defined in the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the benchmark index. Shareholder approval will not be sought if the NYLI VP S&P 500<sup>®</sup> Index Portfolio crosses from diversified to non-diversified status under such circumstances.

5. The eighth numbered paragraph under the section entitled "Fundamental Investment Restrictions" is amended to include the following:

The NYLI VP S&P 500<sup>®</sup> Index Portfolio intends to be diversified in approximately the same proportion as its benchmark index is diversified.

#### PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE

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