Prospectus by Investment Company (Form 497)

New York Life Investments ETF Trust

NYLI U.S. Large Cap R&D Leaders ETF
NYLI Global Equity R&D Leaders ETF
(the"Fund")

Supplement dated June 22, 2026 ("Supplement") to each Fund's Prospectus
and Summary Prospectus, as supplemented

Important Notice Regarding Change in Investment Policy

CapitalizedtermsandcertainothertermsusedinthisSupplement,unlessotherwisedefinedinthisSupplement,havethemeaningsassignedtothemintheSummaryProspectus and Prospectus.

The Board of Trustees of the New York Life Investments ETF Trust approved changes to the non-fundamental investment policy adopted pursuant to Rule 35d-1 under the Investment Company Act of 1940 for each of the following Funds, which is expected to go into effect on August 28, 2026:

NYLI U.S. Large Cap R&D Leaders ETF

The Fund's policy to invest, under normal circumstances, at least 80% of the value of its assets (net assets plus the amount of any borrowings for investment purposes) in securities of U.S. large-capitalization issuers, will be revised as follows:

The Fund will, under normal circumstances, invest at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in securities of U.S. large-capitalization issuers determined to be R&D Leaders.

For purposes of compliance with the Fund's policy, large-capitalization issuers are issuers whose market capitalization is within the range of market capitalizations of issuers included in the NYLIM U.S. Large Cap R&D Leaders Index. An issuer is determined to be an R&D Leader if it is included in the NYLIM U.S. Large Cap R&D Leaders Index.

NYLI Global Equity R&D Leaders ETF

The Fund's policy to invest, under normal circumstances, at least 80% of the value of its assets (net assets plus the amount of any borrowings for investment purposes) in equity securities, will be revised as follows:

The Fund will, under normal circumstances, invest at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in equity securities determined to be R&D Leaders.

For purposes of compliance with the Fund's policy, an issuer is determined to be an R&D Leader if it is included in the NYLIM Global Equity R&D Leaders Index.

Investors Should Retain This Supplement For Future Reference

REG-00135-06/26