Voya Diversified Emerging Markets Debt Fund - Class A

As of November 25, 2020, the Voya Diversified EMD Fund is closed to new investors and is being liquidated by January 22, 2021.

Class A: IADEX
Class C: ICDEX
Class I: IIDEX
Class W: IWDEX
For more information call 1 (800) 334-3444
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Voya Diversified Emerging Markets Debt Fund

Tap into a world of potential with risk-adjusted emerging market opportunities.

About this Product

  • The Fund invests at least 80% of its net assets in debt instruments of issuers in emerging market countries
  • The Fund may invest in a range of fixed-income and floating rate debt instruments of issuers in emerging markets countries, including sovereign and corporate debt, through direct investment as well as investment in a combination of other Voya funds
  • The Fund’s current approximate target among the Fund’s asset classes are: sovereign debt securities denominated in hard currencies - 40%; debt securities denominated in local currencies - 40%; and corporate debt securities denominated in hard currencies - 20%

Investment Objective

The Fund seeks total return including capital appreciation and current income.

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Average Annual Total Returns %

As of December 31, 2020

As of December 31, 2020

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRInceptionExpense Ratios
Net Asset Value+4.50+4.50+3.93+5.62+3.251.94%1.20%
With Sales Charge+1.94+1.94+3.04+5.09+2.93
Net Asset Value+4.50+4.50+3.93+5.62+3.251.94%1.20%
With Sales Charge+1.94+1.94+3.04+5.09+2.93
1/3 JP Morgan Government Bond Index - Emerging Markets Global Diversified USD Index/ 1/3 JP Morgan Emerging Markets Bond Index - Global Diversified Index/ 1/3 JP Morgan Corporate Emerging Markets Bond+5.07+5.07+4.76+7.05+3.60
1/3 JP Morgan Government Bond Index - Emerging Markets Global Diversified USD Index/ 1/3 JP Morgan Emerging Markets Bond Index - Global Diversified Index/ 1/3 JP Morgan Corporate Emerging Markets Bond+5.07+5.07+4.76+7.05+3.60

Inception Date - Class A:November 2, 2012

Current Maximum Sales Charge: 2.50%

The performance quoted represents past performance and 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. See above "Average Annual Total Returns %" for performance information current to the most recent month-end.

Returns-Based Characteristics

As of December 31, 2020

3 Year5 Year10 Year
Standard Deviation
Standard Deviation:

A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk.


The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index.


The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification.


A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta.

Sharpe Ratio
Sharpe Ratio:

A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.

Information Ratio
Information Ratio:

The ratio of portfolio returns in excess of a market index to the variability of those excess returns; in effect, information ratio describes the value added by active management in relation to the risk taken to achieve those returns.


Calendar Year Returns %

Past performance is no guarantee of future results. Returns are shown in %. These figures are for the year ended December 31 of each year. They do not reflect sales charges and would be lower if they did. The bar chart above shows the Fund's annual returns and long-term performance, and illustrates the variability of the Fund’s returns.


Payment Frequency: Monthly


Date on which a stock begins trading without the benefit of the dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date.

Payable Date
Payable Date:

Date on which a declared stock dividend or a bond interest payment is scheduled to be paid.

Record Date
Record Date:

Date on which a shareholder must officially own shares in order to be entitled to a dividend. After the date of record, the stock is said to be ex-dividend.

Income Dividend01/21/202101/22/202101/20/2021$0.010400
Short-Term Capital Gain01/21/202101/22/202101/20/2021$0.043600
Long-Term Capital Gain01/21/202101/22/202101/20/2021$0.187000
Income Dividend12/31/202001/04/202112/30/2020$0.299500
Long-Term Capital Gain12/31/202001/04/202112/30/2020$0.173600
Short-Term Capital Gain12/31/202001/04/202112/30/2020$0.006700
Totals: $0.720800

Investment Team

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Portfolio Management Team

Voya Investments, LLC

Investment Adviser

Voya Investments, LLC., serves as the investment adviser to each of the Funds. Voya Investments has overall responsibility for the management of the Funds. Voya Investments provides or oversees all investment advisory and portfolio management services for each Fund, and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. The Investment Adviser may, from time to time, directly manage a portion of the Fund’s assets to seek to manage the Fund’s overall risk exposure to achieve the Fund’s desired risk/return profile and to effect the Fund’s investment strategies. The Investment Adviser may invest in futures and exchange-traded funds to implement its investment process.

Voya Investment Management Co. LLC

Investment Sub-Adviser

Voya Investment Management Co. LLC (“Voya IM” or “Sub-Adviser”), a Delaware limited liability company, was founded in 1972 and is registered with the SEC as an investment adviser. Voya IM is an indirect, wholly-owned subsidiary of Voya Financial, Inc. and is an affiliate of the Adviser. Voya IM has acted as adviser or sub-adviser to mutual funds since 1994 and has managed institutional accounts since 1972. The principal office of Voya IM is located at 230 Park Avenue, New York, New York 10169. As of December 31, 2016, Voya IM managed approximately $86.4 billion in assets.
Matt Toms

Matt Toms, CFA

Chief Investment Officer, Fixed Income

Years of Experience: 27

Years with Voya: 12

Matt Toms is the chief investment officer of fixed income at Voya Investment Management. In this role, he leads a team of more than 100 investment professionals, with broad oversight of Voya’s fixed income platform as well as business management responsibilities. As CIO, Matt serves as the chair of the Fixed Income Asset Allocation Committee, a group that formulates the fixed income platform’s strategic investment themes that in turn informs strategy and risk budgeting across public fixed income portfolios. Matt is also a member of the Investment Committee that is represented by the CIOs from across Voya Investment Management. Before becoming CIO, Matt was head of public fixed income at Voya Investment Management, overseeing the investment teams responsible for investment grade corporate, high yield corporate, structured products, mortgage-backed securities, emerging market debt and money market strategies for Voya’s general account and third-party business. Prior to joining the firm, Matt worked at Calamos Investments, where he built their fixed income business. He also has prior portfolio management experience at Northern Trust and Lincoln National. Matt received a BBA from the University of Michigan and holds the Chartered Financial Analyst® designation.
Jean-Dominique Butikofer

Jean-Dominique Butikofer, CFA

Head of Emerging Markets

Years of Experience: 25

Years with Voya: 7

Jean-Dominique (JD) Bütikofer, CFA is the head of emerging markets (EM) for the fixed income team at Voya Investment Management. He is responsible for directing the investment strategy for the emerging market group as well as the asset allocation across EM sub-asset classes. He also oversees EM sovereign and corporate debt and co-runs EM currencies and rates. Prior to joining the firm, JD was head of emerging markets debt and lead portfolio manager at Union Bancaire Privée in Zürich, responsible for the EM macro, sovereign risks and local fixed income markets. Previously, he served as a senior EM fund manager and head of EM for Julius Baer Asset Management after beginning his investment career with Union Bank of Switzerland (UBS). JD received a BA in economic sciences with a specialization in finance and an MSc in political economy from the University of Neuchâtel, Faculty of Economics, Politics and Social Sciences in Switzerland. He holds the Chartered Financial Analyst® designation and is proficient in German, French and Spanish.
Brian Timberlake

Brian Timberlake, PhD, CFA

Head of Fixed Income Research

Years of Experience: 18

Years with Voya: 18

Brian Timberlake is the head of fixed income research at Voya Investment Management and is responsible for managing the organization’s global fixed income research analysts as well as the coordination of macroeconomic data across the fixed income platform. His team is responsible for macro and quantitative fixed income research and provides additional assistance to individual sector groups and the risk management team. In addition, Brian is a named portfolio manager on several global and opportunistic fixed income products. Previously, he was the head of quantitative research where he helped develop an integrated, automated tool for interest rate hedging, created multifactor risk models, and was integral to the design and monitoring of customized client portfolios. Prior to that he was a senior quantitative analyst at Voya. Brian received a BS in chemical engineering from the University of Maryland, an MS in quantitative and computational finance from the Georgia Institute of Technology and a PhD in chemical engineering from the Georgia Institute of Technology. He holds the Chartered Financial Analyst® designation.


Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market securities may be especially volatile. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. The Fund is subject to both Credit and Interest Rate Risk. The Fund's share price and yield will be affected by interest rate movements, with bond prices generally moving in the opposite direction from interest rates. Credit Risk refers to the bond issuers and senior loan issuers ability to make timely payments of principal and interest. High-Yield Securities, or “junk bonds”, are rated lower than investment-grade bonds because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. To the extent that the Fund invests in Mortgage-Related Securities, its exposure to prepayment and extension risks may be greater than investments in other fixed-income securities. Other risks of the Fund include but are not limited to: Borrowing/Leverage Risks; Debt Securities Risk; Non-Diversification Risks; Other Investment Companies' Risks; Price Volatility Risks; Inability to Sell Securities Risks; Securities Lending Risks; and Portfolio Turnover Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.