MAINSTAY VP FUNDS TRUST

MAINSTAY VP FUNDS TRUST
Supplement dated June 10, 2024 (“Supplement”) to the
Summary Prospectuses, Prospectuses and Statement of Additional Information (“SAI”),
each dated May 1, 2024
Capitalized terms and certain other terms used in this Supplement, unless otherwise defined in this Supplement, have the meanings assigned to them in the Prospectuses, Summary Prospectuses and SAI.
The Board of Trustees of MainStay VP Funds Trust (the “Trust”) considered and approved the following changes which will take place on or around August 12, 2024 (except as indicated below):
 
  1.
For each of the Portfolios, the name of the Trust will change to New York Life Investments VP Funds Trust.
 
  2.
For each of the Portfolios, the name of each Portfolio of the Trust will change as follows:
 
Current Portfolio Name
 
   
New Portfolio Name
 
MainStay VP American Century Sustainable Equity Portfolio    NYLI VP American Century Sustainable Equity Portfolio
MainStay VP Balanced Portfolio    NYLI VP Balanced Portfolio
MainStay VP Bond Portfolio    NYLI VP Bond Portfolio
MainStay VP Candriam Emerging Markets Equity Portfolio    NYLI VP Candriam Emerging Markets Equity Portfolio
MainStay VP CBRE Global Infrastructure Portfolio    NYLI VP CBRE Global Infrastructure Portfolio
MainStay VP Conservative Allocation Portfolio    NYLI VP Conservative Allocation Portfolio
MainStay VP Epoch U.S. Equity Yield Portfolio    NYLI VP Epoch U.S. Equity Yield Portfolio
MainStay VP Equity Allocation Portfolio    NYLI VP Equity Allocation Portfolio
MainStay VP Fidelity Institutional AM® Utilities Portfolio    NYLI VP Fidelity Institutional AM® Utilities Portfolio
MainStay VP Floating Rate Portfolio    NYLI VP Floating Rate Portfolio
MainStay VP Growth Allocation Portfolio    NYLI VP Growth Allocation Portfolio
MainStay VP Income Builder Portfolio    NYLI VP Income Builder Portfolio
MainStay VP Indexed Bond Portfolio    NYLI VP Indexed Bond Portfolio
MainStay VP Hedge Multi-Strategy Portfolio    NYLI VP Hedge Multi-Strategy Portfolio
MainStay VP Janus Henderson Balanced Portfolio    NYLI VP Janus Henderson Balanced Portfolio
MainStay VP MacKay Convertible Portfolio    NYLI VP MacKay Convertible Portfolio
MainStay VP MacKay U.S. Infrastructure Bond Portfolio    NYLI VP MacKay U.S. Infrastructure Bond Portfolio
MainStay VP MacKay High Yield Corporate Bond Portfolio    NYLI VP MacKay High Yield Corporate Bond Portfolio
MainStay VP MacKay Strategic Bond Portfolio    NYLI VP MacKay Strategic Bond Portfolio
MainStay VP Moderate Allocation Portfolio    NYLI VP Moderate Allocation Portfolio
MainStay VP Natural Resources Portfolio    NYLI VP Natural Resources Portfolio
MainStay VP PIMCO Real Return Portfolio    NYLI VP PIMCO Real Return Portfolio
MainStay VP PineStone International Equity Portfolio    NYLI VP PineStone International Equity Portfolio
MainStay VP S&P 500 Index Portfolio    NYLI VP S&P 500 Index Portfolio
MainStay VP Small Cap Growth Portfolio    NYLI VP Small Cap Growth Portfolio
MainStay VP U.S. Government Money Market Portfolio    NYLI VP U.S. Government Money Market Portfolio
MainStay VP Wellington Growth Portfolio    NYLI VP Wellington Growth Portfolio
MainStay VP Wellington Mid Cap Portfolio    NYLI VP Schroders Mid Cap Opportunities Portfolio
MainStay VP Wellington Small Cap Portfolio    NYLI VP Wellington Small Cap Portfolio
MainStay VP Wellington U.S. Equity Portfolio    NYLI VP Dimensional U.S. Equity Portfolio
MainStay VP Winslow Large Cap Growth Portfolio    NYLI VP Winslow Large Cap Growth Portfolio
  3.
MainStay VP Hedge Multi-Strategy Portfolio and MainStay VP S&P 500 Index Portfolio only (effective on or about August 28, 2024)
The investment management services provided by IndexIQ Advisors LLC (“IndexIQ Advisors”), an indirect, wholly owned subsidiary of New York Life Insurance Company (“NYL”), to MainStay VP Hedge Multi-Strategy Portfolio and MainStay VP S&P 500 Index Portfolio will be transferred to New York Life Investment Management LLC (“NYLIM”), which is also an indirect, wholly owned subsidiary of NYL. NYLIM is the investment manager of these Portfolios. NYLIM will assume the duties and obligations of IndexIQ Advisors and the personnel at IndexIQ Advisors who currently provide investment services to these Portfolios will continue to provide the same investment management services to these Portfolios through NYLIM. The Subadvisory Agreement between NYLIM and IndexIQ Advisors will be terminated.
All references to IndexIQ Advisors as subadvisor in the Summary Prospectus, Prospectus and SAI are deleted in their entirety.
Additionally, NYLIM will also replace IndexIQ LLC as the index provider for the IQ Hedge Multi-Strategy Index, the underlying index for the MainStay VP Hedge Multi-Strategy Portfolio and the underlying index will be renamed NYLI Hedge Multi-Strategy Index.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.