Voya Floating Rate Fund has been proposed to be merged into Voya Short Duration High Income Fund pursuant to a Shareholder vote occurring in May 2025. Please see the supplement filing for details.
Product Facts
| Ticker Symbol | IFRAX |
| CUSIP | 92913L791 |
| Inception Date | August 17, 2010 |
| Dividends Paid | Monthly |
| Min. Initial Investment | $1,000.00 |
About this Product
- Designed to provide investors with a high level of monthly income
- Invests in ultra-short duration, below investment grade floating rate loans that reset every 30, 60 or 90 days, making the fund less affected by rising interest rates than many other fixed income funds
- Typically invests in senior secured asset-backed loans that are generally first in line to be repaid in the event of financial difficulty
- Allows for daily redemptions
Investment Objective
The Fund seeks to provide investors with a high level of current income.
Performance
Average Annual Total Returns %
As of November 30, 2024
As of September 30, 2024
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +8.32 | +9.36 | +4.73 | +3.42 | +3.08 | 1.17% | 0.99% |
| With Sales Charge | +5.65 | +6.66 | +3.86 | +2.91 | +2.81 | ||
| Net Asset Value | +6.42 | +8.85 | +4.04 | +3.01 | +2.97 | 1.17% | 0.99% |
| With Sales Charge | +3.80 | +6.17 | +3.18 | +2.49 | +2.71 | ||
| Morningstar LSTA US Leveraged Loan Index | +8.34 | +10.13 | +7.03 | +6.07 | +4.96 | — | — |
| Morningstar LSTA US Leveraged Loan Index | +6.54 | +9.59 | +6.47 | +5.74 | +4.86 | — | — |
Inception Date - Class A:August 17, 2010
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 Morningstar® LSTA® US Leveraged Loan Index tracks performance of institutional leveraged loans on a market-weighted basis, and the Bloomberg 2% High Yield Issuer Constrained Composite Index measures the performance of high yield corporate bonds, with a maximum allocation of 2% to any one issuer. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.
Past performance does not guarantee future results.
©2024 Voya Investments Distributor, LLC, 230 Park Ave, New York, NY 10169 • All rights reserved.
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 all materials carefully before investing.
This information is proprietary and cannot be reproduced or distributed. Certain information may be received from sources Voya Investment Management (Voya IM) considers reliable; Voya IM does not represent that such information is accurate or complete. Certain statements contained herein may constitute "projections," "forecasts" and other "forward-looking statements" that do not reflect actual results and are based primarily upon applying retroactively a hypothetical set of assumptions to certain historical financial data. Actual results, performance or events may differ materially from those in such statements. Any opinions, projections, forecasts and forward-looking statements presented herein are valid only as of the date of this document and are subject to change. Nothing contained herein should be construed as (i) an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Voya IM assumes no obligation to update any forward-looking information.
Yields
As of November 30, 2024
| SEC 30-Day Yield (Unsubsidized) SEC 30-Day Yield (Unsubsidized): 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. | 6.88 |
| SEC 30-Day Yield (Subsidized) SEC 30-Day Yield (Subsidized): 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 net expenses (net of any expense waivers or reimbursements). | 7.12 |
| Distribution Yield @ NAV Distribution Yield @ NAV: Current annualized distribution rate based upon NAV is the latest dividend shown as an annualized percentage of net asset value. | 8.98 |
| Distribution Yield @ MOP Distribution Yield @ MOP: Current annualized distribution rate, based upon maximum offering price which is adjusted for sales changes (MOP), where applicable, is the latest dividend shown as an annualized percentage of maximum offering price. | 8.75 |
Returns-Based Characteristics
As of November 30, 2024
| 3 Year | 5 Year | 10 Year | |
|---|---|---|---|
| Alpha Alpha: 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. | -2.17 | -2.66 | -1.86 |
| Beta Beta: 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. | 1.00 | 1.04 | 1.02 |
| 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. | -2.06 | -2.34 | -1.95 |
| R2 R2: 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. | 0.91 | 0.98 | 0.97 |
| 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. | 0.15 | 0.11 | 0.22 |
| 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. | 4.01 | 7.53 | 5.63 |
Growth of a $10,000 Investment
For the period 12/31/2014 through 11/30/2024
Ending Value: $13,538.00
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.
Portfolio
Portfolio Statistics
As of November 30, 2024
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 389 |
| Number of Issuers | 337 |
| Industries Represented | 55 |
| Total Assets Under Management | $191,673,847.8 |
| Avg. Investment | 568,765.13 |
| Avg. Investment as % of AUM | 0.30% |
| Total |
Portfolio Composition
as of November 30, 2024
| Senior Loans | 98.16 |
| - First Lien | 97.28 |
| - Second Lien | 0.88 |
| - Secured | 98.16 |
| - Unsecured | 0.00 |
| High Yield Bonds | 6.25 |
| Structured Products | 0.00 |
| Cash & Other Net Assets* | -4.41 |
| Total | #,###.2 |
These weightings reflect "other net assets." "Other net assets" includes cash, payables, receivables and all other assets and liabilities on the balance sheet.
Top Issuers
as of November 30, 2024
| Shearer's Foods | 0.75 |
| Sedgwick Holdings, Inc. | 0.75 |
| Internet Brands, Inc. | 0.73 |
| AssuredPartners, Inc. | 0.70 |
| American Airlines, Inc. | 0.69 |
| Ultimate Kronos Group, Inc. | 0.65 |
| Transdigm, Inc. | 0.65 |
| Great Outdoors Group, LLC | 0.64 |
| Citrix | 0.64 |
| Medline Industries Inc. | 0.64 |
| Total | #,###.2 |
Credit Quality
% of Total Investments as of November 30, 2024
| >=BBB | 1.53 |
| BB | 25.29 |
| B | 68.13 |
| CCC | 1.74 |
| <CCC | 0.00 |
| Not Rated | 3.07 |
| Total | #,###.2 |
The Standard & Poor's rating scale is as follows, from excellent (high grade) to poor (including default): AAA to D, with intermediate ratings offered at each level between AA and CCC. Anything lower than a BBB- rating is considered a non-investment grade or junk bond. Any security that is not rated by Standard & Poor's is placed in the NR (Not Rated) category.
Top Industry*
% of Total Investments as of November 30, 2024
| Software | 12.12 |
| Health Care Providers & Services | 5.03 |
| IT Services | 4.73 |
| Machinery | 4.40 |
| Hotels, Restaurants & Leisure | 4.28 |
| Chemicals | 4.21 |
| Capital Markets | 3.71 |
| Food Products | 3.61 |
| Commercial Services & Supplies | 3.49 |
| Insurance | 3.19 |
| Total | #,###.2 |
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Ratings
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 | 11/29/2024 | $0.059970 | ||
| Income Dividend | 10/31/2024 | $0.083698 | ||
| Income Dividend | 09/30/2024 | $0.081360 | ||
| Income Dividend | 08/30/2024 | $0.084165 | ||
| Income Dividend | 07/31/2024 | $0.084692 | ||
| Income Dividend | 06/28/2024 | $0.082260 | ||
| Income Dividend | 05/31/2024 | $0.085199 | ||
| Income Dividend | 04/30/2024 | $0.082438 | ||
| Income Dividend | 03/28/2024 | $0.070475 | ||
| Income Dividend | 02/29/2024 | $0.065348 | ||
| Income Dividend | 01/31/2024 | $0.069845 | ||
| Income Dividend | 12/29/2023 | $0.069848 | ||
| Income Dividend | 11/30/2023 | $0.065198 | ||
| Totals: $0.984495 | ||||
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
Mohamed N Basma, CFA
Managing Director, Head of Leveraged Credit
Years of Experience: 27
Years with Voya: 24
Randy Parrish, CFA
Head of Public Credit
Years of Experience: 34
Years with Voya: 23
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 following principal risks are presented in alphabetical order which does not imply order of importance or likelihood: Asset-Backed Securities; Bank Instruments; Cash/Cash Equivalents; Collateralized Loan Obligations and Other Collateralized Obligations; Covenant-Lite Loans; Credit (Loans); Credit Default Swaps; Currency; Demand for Loans; Derivative Instruments; Environmental, Social, and Governance (Fixed Income); Equity Securities Incidental to Investments in Loans; Foreign (Non-U.S.) Investments/ Developing and Emerging Markets; Foreign (Non-U.S.) Investments for Floating Rate Loans; High-Yield Securities; Interest in Loans; Interest Rate for Floating Rate Loans; Limited Secondary Market for Loans; Liquidity for Floating Rate Loans; Market Disruption and Geopolitical; Other Investment Companies; Prepayment and Extension; Repurchase Agreements; Sovereign Debt; Valuation of Loans. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risks.
The fund discussed may be available to you as part of your employer sponsored retirement plan. There may be additional plan level fees resulting in personal performance that varies from stated performance. Please call your benefits office for more information.