Voya High Yield Bond Fund - Class A

Class A: IHYAX
Class C: IMYCX
Class I: IHYIX
Class R: IRSTX
Class R6: VHYRX
Class W: IHYWX
For more information call 1 (800) 334-3444
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Voya High Yield Bond Fund

High Income and Total Return Potential From a Consistent Investment Process and an Experienced Team

We seek to deliver consistent outperformance through active management emphasizing credit selection and prudent diversification.

Daily Prices

as of September 17, 2021

Net Asset Value (NAV)$8.00
% Change0.00
$ Change0.00
YTD Return4.00%

The Voya High Yield Bond Fund Offers

Experienced and Skilled Team

Stable and experienced team focused exclusively on high yield with ability to leverage there sources of the broader fixed income platform

Focus on Mitigating Downside

Portfolio construction process balances risk and return drivers to help navigate multiple market environments

Balance of Risk and Return

Seeks to provide high relative income and total return

Product Facts

Ticker SymbolIHYAX
CUSIP92913L627
Inception DateDecember 15, 1998
Dividends PaidMonthly
Min. Initial Investment$1,000.00

About this Product

  • Pure high yield fund that does not invest in equities or bank loans; ideal for asset allocation
  • Highly experienced dedicated high yield team, leveraging the broad Voya fixed income platform
  • Portfolio construction process seeks multiple sources of alpha in a prudent risk/return framework
  • Investment process seeks consistent outperformance and strong risk-adjusted returns

Investment Objective

The Fund seeks to provide investors with a high level of current income and total return.

My Representatives

Broker/Dealer Services

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of August 31, 2021

As of June 30, 2021

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRExpense Ratios
GrossNet
Net Asset Value+3.74+8.45+6.13+5.46+6.451.04%1.04%
With Sales Charge+1.11+5.75+5.25+4.92+6.18
Net Asset Value+3.15+14.17+6.56+6.23+6.071.10%1.10%
With Sales Charge+0.54+11.34+5.67+5.69+5.80
Bloomberg High Yield Bond—2% Issuer Constrained Composite Index+4.55+10.14+7.09+6.65+7.06
Bloomberg High Yield Bond—2% Issuer Constrained Composite Index+3.61+15.34+7.42+7.47+6.65

Inception Date - Class A:December 15, 1998

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.

Yields

As of August 31, 2021

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.

3.20
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).

3.20
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.

4.58
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.

4.47

Returns-Based Characteristics

As of August 31, 2021

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.

8.586.796.34
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.

0.920.920.91
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.

0.990.990.97
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.

-0.46-0.71-0.04
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.

0.600.660.93
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.

-0.79-1.21-0.52

Growth of a $10,000 Investment

For the period 09/30/2011 through 08/31/2021

Ending Value: $18,671.00

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 August 31, 2021

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.

$954.0
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

452
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.

4.21
Duration (Modified to Worst) years
Duration (Modified to Worst):

Modified Duration to Worst - is a mathematically adjusted form of Macaulay Duration measuring the sensitivity of a bond's price to small, instantaneous changes in yield. This calculates the rate sensitivity of a security assuming that cash flows do not change as interest rates change./p>

3.44
Total

Top Issuers

as of August 31, 2021

OCCIDENTAL PETROLEUM CORPORATI1.91
FORD MOTOR CREDIT COMPANY LLC1.55
BAUSCH HEALTH COMPANIES INC1.26
CCO HOLDINGS LLC/CCO HOLDINGS 1.15
CHS/COMMUNITY HEALTH SYSTEMS I0.96
SPRINT CORP0.88
TENET HLTHCR CORP0.88
KRAFT HEINZ FOODS CO0.76
HCA-THE HEALTHCARE CO0.73
CSC HOLDINGS LLC0.72
Total#,###.2

Credit Quality

% of Total Investments as of August 31, 2021

Treasuries/Cash2.79
≥BBB0.89
BB38.42
B39.08
CCC18.22
<CCC0.33
Not Rated0.27
Total#,###.2

Top Industry

% of Total Investments as of August 31, 2021

Independent Energy7.89
Cable and Satellite6.37
Technology6.19
Financials6.04
Media and Entertainment5.87
Midstream5.09
Healthcare4.59
Automotive4.30
Gaming4.00
Food and Beverage3.94
Total#,###.2

Maturity Details

% of Total Investments as of August 31, 2021

Cash2.79
<1 Year14.06
1-3 Years22.61
3-5 Years34.36
5-7 Years10.29
7-10 Years12.20
10-20 Years2.34
>20 Years1.34
Total#,###.2

Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.

Ratings

Morningstar™ Ratings

As of August 31, 2021

Overall3 Year5 Year10 Year
625 Funds625 Funds548 Funds357 Funds

Category: High Yield Bond

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 Dividend08/31/2021$0.031400
Income Dividend07/31/2021$0.034600
Income Dividend06/30/2021$0.033200
Income Dividend05/31/2021$0.034300
Income Dividend04/30/2021$0.033000
Income Dividend03/31/2021$0.034300
Income Dividend02/28/2021$0.030900
Income Dividend01/31/2021$0.034300
Income Dividend12/31/2020$0.034000
Income Dividend11/30/2020$0.031900
Income Dividend10/31/2020$0.032900
Income Dividend09/30/2020$0.032300
Income Dividend08/31/2020$0.035200
Totals: $0.432300

Investment Team

View Fund Adviser/Sub Adviser

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.
Randy Parrish

Randy Parrish, CFA

Head of Public Credit

Years of Experience: 31

Years with Voya: 20

Randy Parrish is a managing director and head of public credit at Voya Investment Management, overseeing the investment grade and emerging market teams. Previously at Voya, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team. Prior to joining Voya, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy earned a BBA in business administration from the University of Georgia and is a CFA® Charterholder.
Rick Cumberledge

Rick C Cumberledge, CFA

Head of High Yield

Years of Experience: 28

Years with Voya: 14

Rick Cumberledge is head of high yield and a senior high yield portfolio manager at Voya Investment Management. Prior to joining Voya, Rick was a senior high yield credit analyst at Federated Investors. Prior to that, Rick held positions at American Capital Strategies, Bank of America and Allied Capital. Rick earned an MSc in finance from the George Washington University and a BA in business administration from Westminster College. He is a CFA® Charterholder.

Disclosures

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. 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. 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. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Risks of foreign investing are generally intensified in Emerging Markets. As Interest Rates rise, bond prices may fall, reducing the value of the Fund's share price. Debt Securities with longer durations tend to be more sensitive to interest rate changes. Other risks of the Fund include but are not limited to: Credit Risks; Other Investment Companies' Risks; Price Volatility Risks; Inability to Sell Securities 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.

Diversification does not guarantee a profit or ensure against market loss.