Voya Global Income & Growth Fund

Product

Effective May 1, 2024, Voya Global Multi-Asset Fund changed its name to Voya Global Income & Growth Fund. In conjunction, the portfolio management team and investment strategy will be changing. See prospectus supplement for details.

Overview
Performance
Ratings
Distributions
Team
Disclosures

Class A: VYGJX

Class C: VYGKX

Class I: VYGLX

Class R6: VYGNX

Class W: VYGPX

For more information call 1 (800) 334-3444

Product Facts

Ticker Symbol	VYGJX
CUSIP	92913K199
Inception Date	January 20, 1997
Dividends Paid	Monthly
Min. Initial Investment	$1,000.00

About this Product

Under normal markets conditions, invests at least 80% of its net assets in investments the team believes have potential for income, growth, or both
Targets an equal-weighted allocation to global equities, global convertible securities, and global high yield corporate bonds
Invests in securities of issuers across the globe

Investment Objective

The Fund seeks to provide total return consisting of capital growth, both realized and unrealized and current income.

Performance

Average Annual Total Returns %

As of November 30, 2024

As of September 30, 2024

Most Recent Month EndMost Recent Quarter End Most Recent Month EndMost Recent Quarter End

Most Recent Month End	YTD	1 YR	3 YR	5 YR	10 YR	Expense Ratios
Most Recent Month End	YTD	1 YR	3 YR	5 YR	10 YR	Gross	Net
Net Asset Value	+11.45	+16.47	+1.44	+5.71	+5.23	1.19%	1.10%
With Sales Charge	+5.06	+9.77	-0.54	+4.47	+4.61	1.19%	1.10%
Net Asset Value	+9.55	+20.03	+1.82	+5.97	+5.25	1.19%	1.10%
With Sales Charge	+3.26	+13.12	-0.18	+4.72	+4.63	1.19%	1.10%
MSCI World Index	+21.85	+27.83	+8.79	+12.42	+10.06	—	—
S&P Target Risk Growth Index	+13.26	+18.38	+4.28	+7.09	+6.57	—	—
Bloomberg Global Aggregate Index	+0.47	+4.64	-3.87	-1.42	+0.30	—	—
MSCI World Index	+18.86	+32.43	+9.08	+13.04	+10.07	—	—
S&P Target Risk Growth Index	+12.81	+23.31	+4.73	+7.65	+6.86	—	—
Bloomberg Global Aggregate Index	+3.60	+11.99	-3.06	-0.83	+0.57	—	—

Inception Date - Class A:January 20, 1997

Current Maximum Sales Charge: 5.75%

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 Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses and may be subject to possible recoupment. Please see the Fund's prospectus for more information. The expense limits will continue through at least Oct 1 2026 12:00AM. Expenses are being waived to the contractual cap.

The Bloomberg Global Aggregate Index is an unmanaged index that provides a broad-based measure of the global investment-grade fixed-rate debt markets. The Index does not reflect fees, brokerage commissions, taxes, or other expenses of investing. Investors cannot invest directly in an index.

The MSCI World Index is an unmanaged free float-adjusted market capitalization index that is designed to measure global developed market equity performance. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.

The Standard and Poor's Target Risk Growth Total Return Index seeks to provide significant exposure to equities, while also providing increased limited fixed income exposure to diversify risk. The index returns include the reinvestment of dividends and distributions net of withholding taxes, but do not reflect fees, brokerage commissions, or other expenses. Investors cannot directly invest in an index.

Past performance does not guarantee future results.

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.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Rankings do not take sales loads into account.

This attribution analysis is for informational purposes only, and is not intended as investment advice. Performance figures for individual sectors and individual securities are gross of fees. The fees charged by Voya Investment Management are described in Part II of its Form ADV.

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.	-6.25	-4.54	-2.85
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.	0.78	0.80	0.76
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.	-1.66	-1.42	-1.11
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.	0.97	0.96	0.95
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.	-0.20	0.21	0.29
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.	13.42	14.59	11.78

Growth of a $10,000 Investment

For the period 12/31/2014 through 11/30/2024

Ending Value: $16,644.00

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.

Ratings

Morningstar™ Ratings

As of November 30, 2024

Overall	3 Year	5 Year	10 Year
332 Funds	332 Funds	319 Funds	239 Funds

Category: US Fund Global Allocation

The Morningstar Rating^TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

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	12/02/2024	11/27/2024	$0.064000
Income Dividend	10/31/2024	11/01/2024	10/30/2024	$0.064000
Long-Term Capital Gain	06/28/2024	07/01/2024	06/27/2024	$0.550300
Income Dividend	12/28/2023	12/29/2023	12/27/2023	$0.287000
Totals: $0.965300

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

View Fund Adviser/Sub Adviser

Portfolio Management Team

Voya Investments, LLC

Investment Adviser

Voya Investments, an Arizona limited liability company, serves as the investment adviser to the Fund. Voya Investments has overall responsibility for the management of the Fund. Voya Investments oversees all investment advisory and portfolio management services and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. Voya Investments is registered with the SEC as an investment adviser. Voya Investments' principal office is located at 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, Arizona 85258.

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.

Justin M Kass, CFA

Senior Managing Director, Chief Investment Officer, Co-Head of Income & Growth

Years with Voya: 24

Justin Kass is chief investment officer, co-head of income and growth at Voya Investment Management. He joined the firm following Voya’s integration of certain assets and teams comprising the substantial majority of Allianz Global Investors U.S. (“AllianzGI”) business, where he was a portfolio manager, managing director, CIO and co-head of the U.S. income and growth strategies team with portfolio management, research and trading responsibilities for the income and strategies team. Prior to that at AllianzGI, Justin held portfolio manager responsibilities for the U.S. convertible strategy and was a lead portfolio manager for the income and growth strategy since its inception and was also responsible for managing multiple closed-end and open-end mutual funds. Justin earned a BS from the University of California, Davis and an MBA from the UCLA Anderson School of Management. He is a CFA® Charterholder.

Michael E Yee

Managing Director, Lead Portfolio Manager - Income & Growth

Years with Voya: 29 *

Michael Yee is a lead portfolio manager, income and growth at Voya Investment Management. He joined the firm following Voya’s integration of certain assets and teams comprising the substantial majority of Allianz Global Investors U.S. (“AllianzGI”) business, where he was a portfolio manager and managing director with portfolio management, research and trading responsibilities for the income and growth strategies team. He served as a lead portfolio manager for the income and growth strategy since inception and was responsible for managing multiple closed-end and open-end mutual funds. Prior to that at AllianzGI, Michael was an analyst for the global and systematic team with responsibilities focused on U.S. large cap equity strategies and worked in global portfolio administration and client service. Previously, he was a financial consultant for Priority One Financial/Liberty Foundation. Michael earned a BS from the University of California, San Diego and an MBA from San Diego State University.

* Years with Voya is not consecutive; Individual has re-joined the firm.

David J Oberto

Senior Vice President, Lead Portfolio Manager - Income & Growth

Years with Voya: 17 *

David Oberto is a lead portfolio manager, income and growth at Voya Investment Management. He joined the firm following Voya’s integration of certain assets and teams comprising the substantial majority of Allianz Global Investors U.S. (“AllianzGI”) business, where he was a portfolio manager and director with portfolio management, research and trading responsibilities for the income and growth strategies team. David served as portfolio manager for the U.S. High Yield Bond strategy and was also responsible for managing multiple closed-end and open-end mutual funds. Prior to that, he was a portfolio administrator, a credit default swaps (CDS) account manager and a trade-closer at Bain Capital. David earned a BSBA with a concentration in finance and a minor in economics from Fordham University and an MS in finance from the D’Amore-McKim School of Business at Northeastern University.

* Years with Voya is not consecutive; Individual has re-joined the firm.

Ethan Turner, CFA

Senior Vice President, Portfolio Manager - Income & Growth

Years with Voya: 12 *

Ethan Turner is a portfolio manager, income and growth at Voya Investment Management. He joined the firm following Voya’s integration of certain assets and teams comprising the substantial majority of Allianz Global Investors U.S. (“AllianzGI”) business, where he was an analyst and vice president with research responsibilities for the income and growth strategies team. Prior to that at AllianzGI, he was a trading assistant. Prior to that, Ethan was a lead analyst covering the financial sector at Relational Investors and a financial analyst at Sunstone Hotel Investors. Ethan earned a BS from San Diego State University and an MBA from the Anderson School of Management at the University of California, Los Angeles. He is a CFA® Charterholder.

* Years with Voya is not consecutive; Individual has re-joined the firm.

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 Allocation; Bank Instruments; Cash/ Cash Equivalents; Company; Convertible Securities; Covenant-Lite Loans; Credit; Currency; Derivative Instruments; Dividend; Environmental, Social, and Governance (Equity); Environmental, Social, and Governance (Fixed Income); Equity-Linked Notes; Foreign (Non-U.S.) Investments/ Developing and Emerging Markets; Growth Investing; High-Yield Securities; Interest Rate; Investment Model; Liquidity; Market; Market Capitalization; Market Disruption and Geopolitical; Option Writing; Other Investment Companies; Preferred Stocks; Prepayment and Extension; Restricted Securities; Securities Lending; Structured Notes. 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.

Net Asset Value (NAV)	$11.38
% Change	+0.53
$ Change	+0.06
YTD Return	9.72%

Voya Global Income & Growth Fund - Class A