EQ ADVISORS TRUST^SM

SUPPLEMENT DATED OCTOBER 1, 2019 TO THE SUMMARY PROSPECTUS AND PROSPECTUS DATED MAY 1, 2019, AS SUPPLEMENTED

This Supplement updates certain information contained in the Summary Prospectus and Prospectus dated May 1, 2019, as supplemented, of EQ Advisors Trust (“Trust”). You should read this Supplement in conjunction with the Summary Prospectus and Prospectus and retain it for future reference. You may obtain an additional copy of the Summary Prospectus and Prospectus, free of charge, by writing to the Trust at 1290 Avenue of the Americas, New York, New York 10104, or you can view, print, and download a copy of these documents at the Trust’s website at www.axa-equitablefunds.com.

The purpose of this Supplement is to provide you with information regarding (i) changes to the contractual management fee rate schedules applicable to certain Portfolios of the Trust, and (ii) lower contractual expense limitation agreements applicable to certain Portfolios of the Trust. The changes to the contractual management fee rate schedules are expected to lower the affected Portfolios’ management fees at current and/or higher asset levels.

Effective October 1, 2019, the Summary Prospectus of 1290 VT Convertible Securities Portfolio — Class IB Shares and the section of the Prospectus entitled “1290 VT Convertible Securities Portfolio — Class IB and K Shares” are amended by deleting the section entitled “FEES AND EXPENSES OF THE PORTFOLIO” in its entirety and replacing it with the following information:

FEES AND EXPENSES OF THE PORTFOLIO

The following table describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio. The table below does not reflect any fees and expenses associated with variable life insurance contracts and variable annuity certificates and contracts (“Contracts”), which would increase overall fees and expenses. See the Contract prospectus for a description of those fees and expenses.

Shareholder Fees

(fees paid directly from your investment)

Not applicable.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
1290 VT Convertible Securities Portfolio	Class IB Shares		Class K Shares
Management Fee		0.70%		0.70%
Distribution and/or Service Fees (12b-1 fees)		0.25%		0.00%
Other Expenses3		0.72%		0.71%
Acquired Fund Fees and Expenses		0.12%		0.12%
Total Annual Portfolio Operating Expenses		1.79%		1.53%
Fee Waiver and/or Expense Reimbursement1,2		–0.63%		–0.62%
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement		1.16%		0.91%

¹   Pursuant to a contract, AXA Equitable Funds Management Group, LLC has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the Portfolio through April 30, 2021 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Portfolio (exclusive of taxes, interest, brokerage commissions, capitalized expenses, dividend and interest expenses on securities sold short, and extraordinary expenses not incurred in the ordinary course of the Portfolio’s business) do not exceed an annual rate of average daily net assets of 1.15% for Class IB shares and 0.90% for Class K shares of the Portfolio. The Expense Limitation Arrangement may be terminated by AXA Equitable Funds Management Group, LLC at any time after April 30, 2021.

²  Fee Waiver and/or Expense Reimbursement information has been restated to reflect the current Expense Limitation Arrangement.

³  Includes Tax Expenses of 0.01% for Class IB and Class K Shares.

Example

This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other portfolios. The Example assumes that you invest $10,000 in the Portfolio for the periods indicated, that your investment has a 5% return each year, and that the Portfolio’s operating expenses remain the same. This example does not reflect any Contract-related fees and expenses including redemption fees (if any) at the Contract level. If such fees and expenses were reflected, the total expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions, whether you redeem or hold your shares, your costs would be:

	1 Year		3 Years		5 Years		10 Years
Class IB Shares	$	118	$	502	$	911	$	2,053
Class K Shares	$	93	$	423	$	775	$	1,771

Effective October 1, 2019, the Summary Prospectus of 1290 VT DoubleLine Opportunistic Bond Portfolio — Class IB Shares and the section of the Prospectus entitled “1290 VT DoubleLine Opportunistic Bond Portfolio — Class IB and K Shares” are amended by deleting the section entitled “FEES AND EXPENSES OF THE PORTFOLIO” in its entirety and replacing it with the following information:

FEES AND EXPENSES OF THE PORTFOLIO

The following table describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio. The table below does not reflect any fees and expenses associated with variable life insurance contracts and variable annuity certificates and contracts (“Contracts”), which would increase overall fees and expenses. See the Contract prospectus for a description of those fees and expenses.

Shareholder Fees

(fees paid directly from your investment)

Not applicable.

Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
1290 VT DoubleLine Opportunistic Bond Portfolio	Class IB Shares		Class K Shares
Management Fee		0.60%		0.60%
Distribution and/or Service Fees (12b-1 fees)		0.25%		0.00%
Other Expenses		0.15%		0.15%
Acquired Fund Fees and Expenses		0.02%		0.02%
Total Annual Portfolio Operating Expenses		1.02%		0.77%
Fee Waiver and/or Expense Reimbursement1,2		–0.07%		–0.07%
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement		0.95%		0.70%

¹   Pursuant to a contract, AXA Equitable Funds Management Group, LLC has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the Portfolio through April 30, 2021 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Portfolio (exclusive of taxes, interest, brokerage commissions, capitalized expenses, dividend and interest expenses on securities sold short, and extraordinary expenses not incurred in the ordinary course of the Portfolio’s business) do not exceed an annual rate of average daily net assets of 0.95% for Class IB shares and 0.70% for Class K shares of the Portfolio. The Expense Limitation Arrangement may be terminated by AXA Equitable Funds Management Group, LLC at any time after April 30, 2021.

²  Fee Waiver and/or Expense Reimbursement information has been restated to reflect the current Expense Limitation Arrangement.

Example

This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other portfolios. The Example assumes that you invest $10,000 in the Portfolio for the periods indicated, that your investment has a 5% return each year, and that the Portfolio’s operating expenses remain the same. This example does not reflect any Contract-related fees and expenses including redemption fees (if any) at the Contract level. If such fees and expenses were reflected, the total expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions, whether you redeem or hold your shares, your costs would be:

	1 Year		3 Years		5 Years		10 Years
Class IB Shares	$	97	$	318	$	556	$	1,241
Class K Shares	$	72	$	239	$	421	$	948

Effective October 1, 2019, the section of the Prospectus entitled “More Information on Fees and Expenses — Management Fees” is amended to include the following information:

The following table shows the contractual rate of the management fee (as a percentage of the Portfolio’s average daily net assets) payable by each of the following Portfolios, effective October 1, 2019.

Portfolios	First $750 Million		Next $750 Million		Next $1 Billion		Next $2.5 Billion		Thereafter
1290 VT Convertible Securities		0.700%		0.680%		0.660%		0.640%		0.630%
1290 VT DoubleLine Dynamic Allocation		0.750%		0.700%		0.675%		0.650%		0.625%
1290 VT Equity Income		0.750%		0.700%		0.675%		0.650%		0.625%
1290 VT GAMCO Mergers & Acquisitions		0.900%		0.850%		0.825%		0.800%		0.775%
1290 VT GAMCO Small Company Value		0.750%		0.700%		0.675%		0.650%		0.625%
1290 VT High Yield Bond		0.600%		0.580%		0.560%		0.540%		0.530%
1290 VT Micro Cap		0.850%		0.800%		0.775%		0.750%		0.725%
1290 VT Moderate Growth Allocation		0.700%		0.650%		0.625%		0.600%		0.575%
1290 VT Small Cap Value		0.800%		0.750%		0.725%		0.700%		0.675%
1290 VT SmartBeta Equity		0.700%		0.650%		0.625%		0.600%		0.575%

Effective October 1, 2019, the section of the Prospectus entitled “More Information on Fees and Expenses — Expense Limitation Agreement” is amended to include the following information:

In the interest of limiting through April 30, 2021 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) the expenses of the Portfolios listed in the following table, the Adviser has entered into an expense limitation agreement with Trust with respect to each Portfolio (“Expense Limitation Agreement”). Pursuant to the Expense Limitation Agreement, the Adviser has agreed to make payments or waive its management, administrative and other fees to limit the expenses of each Portfolio listed below so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Portfolio (other than interest, taxes, brokerage commissions, dividend and interest expenses on securities sold short, other expenditures that are capitalized in accordance with generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of the Portfolio’s business), as a percentage of average daily net assets, do not exceed the following respective expense ratios:

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Expense Limitation Provisions

	Total Expenses Limited to (% of average daily net assets)
Portfolio	Class IA Shares	Class IB Shares		Class K Shares
1290 VT Convertible Securities*,**	N/A		1.15%		0.90%
1290 VT DoubleLine Opportunistic Bond*,**	N/A		0.95%		0.70%

* Effective October 1, 2019

** For purposes of calculating the maximum annual operating expense limit, acquired fund fees and expenses are included in annual operating expenses.

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