Product Facts
| Ticker Symbol | VVJHX |
| CUSIP | 92891R109 |
| Inception Date | May 1, 2024 |
| Dividends Paid | Monthly |
| Min. Initial Investment | $1,000.00 |
About this Product
Interval fund designed to provide investors access to securitized markets, which may deliver returns that are less correlated to other risk markets with lower sensitivity to interest rates.
May invest in securities or loans collateralized by distinct asset types: commercial real estate, residential housing and nonmortgage assets. Financial leverage may be utilized up to a 33 1/3% limit along with the potential for hedging strategies to mitigage interest rate, credit, prepayment and/or broader market and economic risks.
Deploys expertise in underwriting and investments in deep credit, illiquid, and/or private assets in securitized or its adjacent markets.
As a fundamental policy, which may not be changed wtihout shareholder approval, the Fund offers shareholders the opportunity to redeem their Common Shares on a quarterly basis.
Investment Objective
The Fund seeks to maximize total return through a combination of current income and capital appreciation.
Performance
Average Annual Total Returns %
As of October 31, 2024
As of September 30, 2024
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Inception | Expense Ratios | |
|---|---|---|---|---|---|---|---|---|
| Gross | Net | |||||||
| Net Asset Value | — | — | — | — | — | +4.49 | 5.13% | 3.69% |
| With Sales Charge | — | — | — | — | — | +1.84 | ||
| Net Asset Value | — | — | — | — | — | +5.20 | 5.13% | 3.69% |
| With Sales Charge | — | — | — | — | — | +2.54 | ||
| Bloomberg U.S. Securitized MBS/ABS/CMBS Index | — | — | — | — | — | +5.21 | — | — |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | — | — | — | — | — | +2.77 | — | — |
| Bloomberg U.S. Securitized MBS/ABS/CMBS Index | — | — | — | — | — | +8.18 | — | — |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | — | — | — | — | — | +2.36 | — | — |
Inception Date - Class A:May 1, 2024
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 for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
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.
The ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index is designed to track the performance of a synthetic asset paying ICE Term SOFR to a stated maturity. The index is based on the assumed purchase at par of a synthetic instrument having exactly its stated maturity and with a coupon equal to that day’s fixing rate. That issue is assumed to be sold the following business day (priced at a yield equal to the current day rate) and rolled into a new instrument. Effective October 1, 2022 the underlying reference rate for this index was replaced from USD LIBOR to ICE Term SOFR. Investors cannot directly invest in an index. BofA indices used with permission, are provided “AS IS”, without warranties, and with no liability. BofA does not sponsor, endorse, review, or recommend Voya or its products or services.
The Bloomberg U.S. Securitized Index includes the MBS, ABS, and CMBS sectors. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot directly invest in an index.
Past performance does not guarantee future results.
Portfolio
Portfolio Statistics
As of October 31, 2024
| Net Assets millions Net Assets: The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. | $25.9 |
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 38 |
| Duration years | 3.46 |
| Weighted Average Life years Weighted Average Life: The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes. | 5.82 |
| Total |
Top Issuers
as of October 31, 2024
| PENFED AUTO RECEIVABLES OWNER TRUST PNFED_24-A | 4.90 |
| BENEFIT STREET PARTNERS CLO LTD BSP_19-19A | 4.86 |
| CHASE AUTO OWNER TRUST CHAOT_24-4A | 4.78 |
| STORAGEMART COMMERCIAL MORTGAGE TRUST SMRT_22-MINI | 4.57 |
| CHASE AUTO OWNER TRUST CHAOT_24-1A | 4.43 |
| FREDDIE MAC - STACR 22-DNA2 | 4.25 |
| NAVIENT STUDENT LOAN TRUST NAVSL_21-DA | 4.19 |
| EMPOWER CLO 2024-2 LTD EMPWR_24-2A | 4.03 |
| FANNIE MAE - CAS_24-R01 | 4.01 |
| RADNOR RE RMIR_24-1 | 3.94 |
| Total | #,###.2 |
Credit Quality
% of Total Investments as of October 31, 2024
| Treasuries/Cash | 6.42 |
| AAA | 0.00 |
| AA | 0.00 |
| A | 0.00 |
| BBB | 17.98 |
| BB | 20.59 |
| B | 16.43 |
| <B | 0.00 |
| Not Rated | 38.58 |
| Total | #,###.2 |
Credit quality is calculated based on S&P, Moody's and Fitch ratings. Generally accepted, AAA is the highest grade (best) to D which is the lowest (worst). If the ratings from all 3 rating agencies are available, securities will be assigned the median rating. If the ratings are available from only two of the agencies, the more conservative of the ratings will be assigned to the security. If the rating is available from only one agency, then that rating will be used. Any security that is not rated is placed in the NR (Not Rated) category. Ratings do not apply to the Fund itself or to the Fund shares. Ratings are subject to change.
Top Sectors
% of Total Investments as of October 31, 2024
| Asset Backed Securities | 41.13 |
| Non-Agency RMBS and SF CRT | 29.86 |
| CMBS | 22.59 |
| US Treasury & Cash | 6.42 |
| Total | #,###.2 |
Maturity Details
% of Total Investments as of October 31, 2024
| Cash | 6.42 |
| <1 Year | 0.00 |
| 1-3 Years | 35.57 |
| 3-5 Years | 28.14 |
| 5-7 Years | 0.00 |
| 7-10 Years | 13.72 |
| 10-20 Years | 16.14 |
| >20 Years | 0.00 |
| Total | #,###.2 |
Maturity allocations are based on securities’ Average Life, which incorporates pre-payment assumptions and can thus be much different than a bond’s maturity date, particularly in the case of mortgage-backed securities.
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Distributions
Payment Frequency: Monthly
| Ex-Date
Ex-Date: 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. | Amount | |
|---|---|---|---|---|
| Income Dividend | 10/31/2024 | $0.059540 | ||
| Income Dividend | 09/30/2024 | $0.057780 | ||
| Income Dividend | 08/30/2024 | $0.037109 | ||
| Income Dividend | 07/31/2024 | $0.029915 | ||
| Income Dividend | 06/28/2024 | $0.026100 | ||
| Income Dividend | 05/31/2024 | $0.026691 | ||
| Totals: $0.237136 | ||||
Income Dividend: Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.
Short-Term Capital Gain: The profit realized from the sale of securities held for less than one year.
Long-Term Capital Gain: Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.
Investment Team
Portfolio Management Team
Voya Investments, LLC
Investment Adviser
Voya Investment Management Co. LLC
Investment Sub-Adviser
Colin Dugas, CFA
Portfolio Manager, Securitized
Years of Experience: 22
Years with Voya: 22
Dave Goodson
Head of Securitized
Years of Experience: 28
Years with Voya: 22
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. You could lose money on your investment and any of the following risks, among others, could affect investment performance. The principal risks are presented in alphabetical order which does not imply order of importance or likelihood: Asset-Backed (including Mortgage-Backed) Securities; Collateralized Loan Obligations; Commercial Real Estate Loans; Covenant-Lite Loans; Credit; Credit (Loans); Credit Default Swaps; Credit Risk Transfer Securities; Currency; Demand for Loans; Derivatives Instruments; Duration; Floating Rate Investments; Floating or Variable Rate Loans; Foreign (Non-U.S.) Investments; Futures Contracts; High Yield Securities; Interest in Loans; Interest Rate; Interest Rate for Floating or Variable Rate Loans; Inverse Floating Rate Instrument; Leverage; LIBOR Transition and Reference Benchmarks; Limited Liquidity For Investors; Limited Operating History; Limited Secondary Market for Loans; Liquidity; Market; Market Disruption and Geopolitical; Options; Prepayment and Extension; Real Estate Companies and Real Estate Investment Trusts; Regulatory Risks for Loans; Repurchase Agreements; Residential Mortgage Loans; Reverse Repurchase Agreements and Dollar Roll Transactions; Securities Lending; Temporary Defensive Positions; U.S. Government Securities and Obligations; Valuation of Loans; Warehouse Investments; and When-Issued, Delayed Delivery, and Forward Commitment Transactions. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risks.
An interval fund is a type of closed-end fund that is not listed on an exchange that periodically offers to repurchase a limited percentage of outstanding shares from its investors at slated intervals– typically quarterly, semiannually or annually. Investors should generally not expect to be able to sell their shares (other than through the repurchase process).
A note about risk: Although interval funds provide limited liquidity through periodic repurchase offers, investors should consider the funds to be an illiquid investment. There is no secondary market for interval funds, and none is expected to develop. Furthermore, unlike with open-end funds, which permit daily redemptions, investors cannot sell interval fund shares at any time. Because of these factors, investments in interval funds are subject to liquidity risk, as an investor may not be able to sell their shares in a timely manner at an advantageous price. There is no guarantee that an investor will be able to tender all or any of their requested fund shares in a periodic repurchase offer. The NAV of an interval fund may be volatile, and a fund’s use of leverage will increase this volatility.
Growth of a $10,000 Investment
For the period 05/01/2024 through 10/31/2024
Ending Value: $10,448.00
The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.