Massachusetts
Financial Services Company, the Portfolio's subadvisor,
(“MFS” or “Subadvisor”) normally invests the Portfolio’s
assets primarily in equity securities. Equity securities include common stocks
and other securities that represent an
ownership interest (or right to acquire an
ownership interest) in a company
or other issuer. In selecting
investments for the
Portfolio, MFS
is not constrained
by any particular investment
style. MFS may invest the Portfolio’s
assets in the stocks of
companies it believes to have
above average earnings growth potential compared to other companies (growth
companies), in the stocks of companies it
believes are undervalued compared to their
perceived worth (value companies), or in a combination
of growth and value companies. Growth
companies are those that MFS believes will experience an increase in earnings that is higher than the
typical earnings growth rate for other companies in a similar industry and/or the broader market. Value
companies are those that MFS believes are trading at attractive prices relative to their earnings, dividends,
assets, or other financial measures as compared to other companies in a similar industry and/or the broader
market. While MFS may invest the Portfolio’s
assets in securities of companies
of any size, MFS primarily
invests in securities of companies with
large capitalizations, which are companies having a market capitalization in excess
of $5 billion at the time of purchase. MFS may also invest the Portfolio’s
assets in foreign securities. An issuer is considered to be U.S. or foreign based on the
issuer’s “country of risk” (or similar designation) as determined by a third party such as Bloomberg.
Although a Portfolio will generally rely on an issuer’s “country of risk” (or similar designation)
as determined by Bloomberg (or another similar third party) when categorizing securities as either U.S.
or foreign-based, it is not required to do so. MFS
normally invests the Portfolio's
assets across different industries and sectors, but MFS may invest
a significant percentage of the
Portfolio's assets in issuers in
a single industry or sector. However,
the Portfolio will not concentrate in any industry or group of industries. Investment Process:
MFS uses an active bottom-up investment approach to buying and
selling investments for the Portfolio. Investments are selected primarily based on fundamental analysis
of individual issuers and their potential in light of their financial condition, and market, economic,
political, and regulatory conditions. Factors considered may include analysis of an issuer’s earnings,
cash flows, competitive position, and management ability. Quantitative screening tools that systematically
evaluate an issuer’s valuation, price and earnings momentum, earnings quality, and other factors, may
also be considered.
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Risk Table - Prospectus Summary - NYLI VP MFS Investors Trust Portfolio
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Risk [Text Block] |
| Risk Lose Money [Member] |
You
can lose money by investing in the Portfolio.
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| Risk Not Insured Depository Institution [Member] |
An investment in the Portfolio 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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| Market Risk |
Market Risk: Changes in markets
may cause the value of investments to fluctuate, which could cause the Portfolio to underperform other
funds with similar investment objectives and strategies. Such changes may be rapid and unpredictable.
From time to time, markets may experience periods of stress as a result of various market, economic and
geopolitical factors for potentially prolonged periods that may result in: (i) increased market volatility;
(ii) reduced market liquidity; and (iii) increased redemptions of shares. Such conditions may add significantly
to the risk of volatility in the net asset value of the Portfolio's shares and adversely affect the Portfolio
and its investments.
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| Portfolio Management Risk |
Portfolio Management Risk: The investment
strategies, practices and risk analyses used by the Subadvisor may not produce the desired results or
expected returns. Investments selected using quantitative methods or based on models that analyze information
and data (“quantitative tools”) may perform differently from the market as a whole. The quantitative
tool used by the Subadvisor, and the investments selected based on the quantitative tool, may not perform
as expected. The quantitative tool may contain certain assumptions in construction and implementation
that may adversely affect the Portfolio’s performance. There may also be technical issues with the
construction and implementation of quantitative tools (for example, software or other technology malfunctions,
or programming inaccuracies). In addition, the Portfolio’s performance will reflect, in part, the Subadvisor’s
ability to make active qualitative decisions and timely adjust the quantitative tool, including the tool’s
underlying metrics and data.
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| Equity Securities Risk |
Equity Securities Risk: Investments in
common stocks and other equity securities are particularly subject to the risk of changing economic,
stock market, industry and company conditions and the risks inherent in the ability to anticipate such
changes that can adversely affect the value of portfolio holdings.
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| Market Capitalization Risk |
Market Capitalization
Risk: Investments in securities issued by small-, mid-, or large-cap companies will
be subject to the risks associated with securities issued by companies of the applicable market capitalization.
Securities of small-cap and mid-cap companies may be subject to greater price volatility, significantly
lower trading volumes, cyclical, static or moderate growth prospects and greater spreads between their
bid and ask prices than securities of larger companies. Smaller capitalization companies frequently rely
on narrower product lines and niche markets and may be more vulnerable to adverse business or market
developments. Securities issued by larger companies may have less growth potential and may not be able
to attain the high growth rates of successful smaller companies, especially during strong economic periods.
In addition, larger companies may be less capable of responding quickly to competitive challenges and
industry changes, including those resulting from improvements in technology, and may suffer sharper price
declines as a result of earnings disappointments. There is a risk that the securities issued by companies
of a certain market capitalization may underperform the broader market at any given time.
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| Foreign Securities Risk |
Foreign
Securities Risk: An issuer of a security is considered to be a U.S. or foreign issuer based on
the issuer’s “country of risk” (or similar designation) as determined by a third party such as
Bloomberg (or another similar third party). The issuer’s “country of risk” is determined based
on a number of criteria, which may change from time to time and currently include, but are not limited
to, its country of domicile, the primary stock exchange on which it trades, the location from which the
majority of its revenue comes, and its reporting currency. Although a Portfolio will generally rely on
an issuer’s “country of risk” (or similar designation) as determined by Bloomberg (or another similar
third party) when categorizing securities as either U.S. or foreign-based, it is not required to do so.
Investments in foreign (non-U.S.) securities may be riskier than investments in
U.S. securities. Foreign regulatory regimes and securities markets can have less stringent investor protections
and disclosure standards and less liquid trading markets than U.S. regulatory regimes and securities
markets, and can experience political, social and economic developments that may affect the value of
investments in foreign securities. Foreign securities may also subject the Portfolio's investments to
changes in currency rates. Changes in the value of foreign currencies may make the return on an investment
increase or decrease, unrelated to the quality or performance of the investment itself. Economic sanctions
may be, and have been, imposed against certain countries, organizations, companies, entities and/or individuals.
Economic sanctions and other similar governmental actions or developments could, among other things,
effectively restrict or eliminate the Portfolio’s ability to purchase or sell certain foreign securities
or groups of foreign securities, and thus may make the Portfolio’s investments in such securities less
liquid or more difficult to value. Such sanctions may also cause a decline in the value of securities
issued by the sanctioned country or companies located in or economically tied to the sanctioned country. In addition, as a result of economic sanctions
and other similar governmental actions or developments, the Portfolio may be forced to sell or otherwise
dispose of foreign investments at inopportune times or prices. The Portfolio may seek to hedge against
its exposure to changes in the value of foreign currency, but there is no guarantee that such hedging
techniques will be successful in reducing any related foreign currency valuation risk.
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| Growth Stock Risk |
Growth Stock Risk:
If growth companies do not increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute increase. Growth company stocks
also typically lack the dividend yield that can cushion stock prices in market downturns. These risks
may be more pronounced in companies that are in the earlier stages of their growth cycle.
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| Value Stock Risk |
Value
Stock Risk: Value stocks may never reach what the Subadvisor believes is their full value
or they may go down in value. In addition, different types of stocks tend to shift in and out of favor
depending on market and economic conditions, and therefore the Portfolio's performance may be lower or
higher than that of funds that invest in other types of equity securities.
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| Sector Risk |
Sector Risk:
To the extent the Portfolio focuses its investments in particular sectors of the economy, the Portfolio’s
performance may be more subject to the risks of volatile economic cycles and/or conditions or developments
adversely affecting such sectors than if the Portfolio held a broader range of investments. Individual
sectors may fluctuate more widely than the broader market. Companies in the same
economic sector may be similarly affected by economic, regulatory, political or market events or conditions,
which may make the Portfolio more vulnerable to unfavorable developments in that economic sector than
funds that invest more broadly. Generally, the more broadly the Portfolio invests, the more it spreads
risk and potentially reduces the risks of loss and volatility.
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| Issuer Risk |
Issuer Risk:
An issuer in which the Portfolio invests or to which it has exposure may perform
poorly, and the value of its securities may therefore decline, which would negatively affect the Portfolio’s
performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs
in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent
disclosures, natural disasters, military confrontations and actions, war, other conflicts, terrorism,
disease/virus outbreaks, epidemics or other events, conditions or factors.
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| Large Investments by Shareholders |
Large Investments
by Shareholders: From time to time, the Portfolio may receive large purchase
or redemption orders from affiliated or unaffiliated mutual funds or other investors. Such large transactions
could have adverse effects on the Portfolio's performance if the Portfolio were required to sell securities,
invest cash or hold significant cash at times when it otherwise would not do so. This activity could
also accelerate the realization of capital gains and increase the Portfolio's transaction costs.
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| Liquidity and Valuation Risk |
Liquidity
and Valuation Risk: The Portfolio’s investments may be illiquid at the time of purchase or liquid
at the time of purchase and subsequently become illiquid due to, among other things, events relating
to the issuer of the securities, market events, operational issues, economic conditions, investor perceptions
or lack of market participants. The lack of an active trading market may make it difficult to sell or
obtain an accurate price for a security. If market conditions or issuer specific developments make it
difficult to value securities, the Portfolio may value these securities using more subjective methods,
such as fair value pricing. In such cases, the value determined for a security could be different than
the value realized upon such security's sale. As a result, an investor could pay more than the market
value when buying shares or receive less than the market value when selling shares. This could affect
the proceeds of any redemption or the number of shares an investor receives upon purchase. The Portfolio
is subject to the risk that it could not meet redemption requests within the allowable time period without
significant dilution of remaining investors' interests in the Portfolio. To meet redemption requests
or to raise cash to pursue other investment opportunities, the Portfolio may be forced to sell securities
at an unfavorable time and/or under unfavorable conditions, which may adversely affect the Portfolio’s
performance.
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