GNMA Bonds

Volatile markets and low interest rates have investors looking for relative stability and income. While GNMAs may help those seeking these traits, many are understandably confused about what GNMAs are and what role they could play in a portfolio.

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Past performance does not guarantee future results. Current performance may be lower or higher than the performance information shown. The Investment return and principal value of an investment in the portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please visit, www.voyainvestments.com.

Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year. Performance does not account for taxes. Returns for the other share classes vary due to different charges and expenses.

An investor should consider the investment objectives, risks, charges and expenses of the Fund(s) carefully before investing. For a free copy of the Fund's prospectus, or summary prospectus, which contains this and other information, visit us at www.voyainvestments.com or call (800) 992-0180. Please read the prospectus carefully before investing. prospectus, which contains this and other information, visit us at www.voyainvestments.com or call (800) 992-0180. Please read the prospectus carefully before investing.

Index Disclosures

The S&P 500 Index is a gauge of the U.S. stock market, which includes 500 leading companies in major industries of the U.S. economy. The Bloomberg Barclays U.S. Aggregate Bond Index is composed of U.S. securities in Treasury, Government-related, Corporate and Securitized sectors that are of investment-grade quality or better, have at least one year to maturity, and have an outstanding par value of at least $250 million. The Bloomberg Barclays U.S. Corporate Bond Index is the component of the Bloomberg Barclays U.S. Aggregate Index that comprises? OR consists of? OR is composed of? U.S. investment-grade corporate bonds. The Bloomberg Barclays U.S. Government/Credit 1–3 Year Bond Index is comprised of U.S. Treasury, Agency and corporate bonds with maturities at least one and not more than three years. The Bloomberg Barclays U.S. GNMA Index is comprised of U.S. mortgage-backed pass-through securities, which carry the full faith and credit guaranty of the U.S. government through the Government National Mortgage Association (“GNMA” or “Ginnie Mae”). The Credit Suisse Leveraged Loan Index represents tradable, senior secured U.S. dollar-denominated below-investment-grade loans. All loans are funded-term loans with a tenor of at least one year and are made by issuers domiciled in developed countries.

Morningstar Categories

US Short-Term Bond Category: Short-term bond portfolios invest primarily in corporate and other investment-grade U.S. fixed-income issues and have durations of one to 3.5 years (or, if duration is unavailable, average effective maturities of one to four years). These portfolios are attractive to fairly conservative investors because they are less sensitive to interest rates than portfolios with longer durations. US Ultrashort Bond Category: Ultrashort bond portfolios invest primarily in investment-grade U.S. fixed-income issues and have durations typically of less than one year. This category can include corporate or government ultrashort bond portfolios, but it excludes international, convertible, multisector, and high-yield bond portfolios. Because of their focus on bonds with very short durations, these portfolios offer minimal interest-rate sensitivity and therefore, low risk and total return potential. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Ultrashort is defined as 25% of the three-year average effective duration of the MCBI.

Investment Risks: All investing involves risks of fluctuating prices, and the uncertainties of rates of return and yield inherent in investing. As interest rates rise, bond prices fall, reducing the value of the Fund’s share price. To the extent that the Fund invests in asset-backed, mortgage-backed or mortgage-related securities, its exposure to prepayment and extension risks may be greater than investments in other fixed-income securities. While the Fund invests in securities guaranteed by the U.S. government as to timely payments of interest and principal, the Fund shares are not insured or guaranteed. Other risks of the Fund include but are not limited to: Credit Risks, Extension Risks, Other Investment Companies’ Risks, Prepayment Risks, U.S. Government Securities and Obligations Risks and Securities Lending Risks. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risks. An investment in the Fund is not a bank deposit and is not insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. Duration is the weighted measure of the length of time the bond will pay out. The SEC 30-Day Subsidized Yield (%) highlighted in the disclosure in Figure 1 is a standardized yield calculation created by the SEC that reflects the income earned during a 30-day period, after the deduction of the fund’s net expenses (net of any expense waivers or reimbursements). SEC 30-Day Unsubsidized Yield (%) a standardized yield calculation created by the SEC, it reflects the income earned during a 30-day period, after the deduction of the fund’s gross expenses. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days.

For financial professional use only. Not for inspection by, distribution or quotation to, the general public.