The Fund has exhibited the ability to capitalize on up markets, as well as drawdowns, for an overall resilient approach through various market cycles, rather than being concerned with choosing when to over and underweight small- and mid-caps.

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NYLI Fiera SMID Growth Has a Strong Record of Outperformance

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High Conviction Fiera SMID September
High Conviction Fiera SMID September
The chart shows the performance of two portfolios over a 5-year period: one with 70% S&P 500 Index and 30% APSGX and one with 70% S&P 500 Index and 30% Russell 2500 Index. APSGX outperforms in both portfolio return and volatility and portfolio risk-adjusted metrics.

NYLI Fiera SMID Growth Fund
Average annual returns as of 9/30/24

The chart shows the performance of two portfolios over a 5-year period: one with 70% S&P 500 Index and 30% APSGX and one with 70% S&P 500 Index and 30% Russell 2500 Index. APSGX outperforms in both portfolio return and volatility and portfolio risk-adjusted metrics.
The chart shows the performance of two portfolios over a 5-year period: one with 70% S&P 500 Index and 30% APSGX and one with 70% S&P 500 Index and 30% Russell 2500 Index. APSGX outperforms in both portfolio return and volatility and portfolio risk-adjusted metrics.

Source: Morningstar, October 31, 2024. It is not possible to invest directly in an index. Excess return is the return generated by the Fund over and above the Russell 2500 Growth Index for the period June 2021 to October 2024. There have been other periods where the fund did not outperform. Click on the ticker APSGX, which includes the prospectus, investment objectives, performance, risk, and other essential information. Returns represent past performance, which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Visit www.newyorklifeinvestments.com for the most recent month-end performance.

        

Consider NYLI Fiera SMID Growth Fund
 

A focus on global secular trends
Proprietary investment process combines bottom-up fundamental stock selection with top-down global secular trends.

A dynamic combination
Portfolio construction consists of a dynamic combination of stable and emerging growth companies.

A disciplined approach
A disciplined, consistent, and repeatable process over multiple economic cycles.

        

Sharpe ratio is a measure of risk-adjusted performance.
Sortino ratio measures the risk-adjusted return of an investment asset, portfolio, or strategy. It considers downside deviation as volatility.
Volatility (Vol) is a statistical measure of the dispersion of returns for a given security or market index.

BEFORE YOU INVEST
Before considering an investment in the Fund, you should understand that you could lose money.
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.
Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. During periods of growth stock underperformance, a fund’s performance may suffer.
Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy.
Treasury Securities are backed by the full faith and credit of the United States government as to payment of principal and interest if held to maturity.  Interest income on these securities is exempt from state and local taxes.