Voya Real Estate Fund - Class A

Class A: CLARX
Class C: CRCRX
Class I: CRARX
Class R: CRWRX
Class R6: VREQX
Class W: IREWX
For more information call 1 (800) 334-3444
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Voya Real Estate Fund

Tap into the growth and income potential of U.S. commercial real estate.

Daily Prices

as of December 14, 2018

Net Asset Value (NAV)$11.48
% Change-22.06
$ Change-3.25
YTD Return-1.61%

Product Facts

Ticker SymbolCLARX
CUSIP92913K652
Inception DateDecember 20, 2002
Dividends PaidQuarterly
Min. Initial Investment$1,000.00

About this Product

  • Invests primarily in U.S. REITs that own and manage commercial real estate with market capitalizations typically above $100 million at the time of purchase
  • Proprietary analytical techniques are used to identify securities which the Sub-Adviser believes will provide above-average cash flow yield and growth
  • Managed by CBRE Clarion Securities (CBRE Clarion), one of the world’s largest real estate investment companies
  • The Sub-Adviser’s investment approach is expected to produce a total return that is closely tied to the performance of the market for publicly traded real estate companies

Investment Objective

The Fund seeks total return consisting of long-term capital appreciation and current income.

Management Team

View Fund Advisor/Sub Advisor

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.

CBRE Clarion Securities, LLC

Investment Sub-Adviser

CBRE Clarion Securities is an industry-leading global investment management firm specializing in the management of listed real asset securities including real estate, infrastructure, and master limited partnerships (MLPs). CBRE Clarion manages client portfolios with a focus on generating attractive risk-adjusted returns through a total return, income focused, and absolute return-oriented strategies. Headquartered near Philadelphia, Pennsylvania, the firm has over 90 employees located in offices in the United States, United Kingdom, Hong Kong, Japan, and Australia.
T. Ritson Ferguson

T. Ritson Ferguson, CFA

Portfolio Manager

Managed Fund since 1996

More Info
Mr. Ferguson is CEO of CBRE Global Investors and CEO of its equity securities management subsidiary, CBRE Clarion Securities. He is also the firm’s global chief investment officer. He is a senior portfolio manager and a member of the CBRE Clarion Global Investment Policy Committee. Mr. Ferguson was one of the founding principals who formed the predecessor entity to CBRE Clarion Securities. Earlier in his real estate career, he worked at K.S. Sweet Associates and Trammell Crow Company. He was also a consultant at Bain & Company and a captain in the U.S. Air Force. Mr. Ferguson has over 30 years of industry investment experience.
Joseph Smith

Joseph P Smith, CFA

Portfolio Manager

Managed Fund since 2005

More Info
Mr. Smith is president and co-chief investment officer of CBRE Clarion Securities, as well as chair of the firm’s Management Committee and a member of the Global Investment Committee. Mr. Smith is co-leader of the U.S. real estate securities team. Mr. Smith joined CBRE Clarion Securities’ predecessor firm in 1997. Prior to that, Mr. Smith worked in various management and analyst positions in the real estate industry including positions at Alex Brown & Sons, PaineWebber and Radnor Advisors. Mr. Smith has over 25 years of real estate investment management experience.

My Representatives

Broker/Dealer Services

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of November 30, 2018

As of September 30, 2018

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-0.16-0.11+3.35+7.89+13.501.31%1.30%
With Sales Charge-5.90-5.87+1.34+6.62+12.84
Net Asset Value-0.55+1.97+5.22+7.67+6.701.31%1.30%
With Sales Charge-6.27-3.91+3.17+6.41+6.07
MSCI U.S. REIT Index GR USD+3.94+3.71+6.49+9.71+14.98
MSCI U.S. REIT Index GR USD+2.30+3.74+7.72+9.16+7.50

Inception Date - Class A:December 20, 2002

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.

Yields

As of November 30, 2018

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.

1.63
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).

1.65
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.

2.34
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.

2.20

Returns Based Statistics

As of November 30, 2018

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.

12.2913.5621.11
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.

0.961.010.98
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.

98.2798.6199.26
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.

-2.80-1.72-1.08
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.

0.250.590.69
Tracking Error
Tracking Error:

A measure of how closely the returns of a portfolio tend to follow the returns of the index to which it is benchmarked; specifically, the variability of excess returns around the average.

1.691.601.86
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.

-1.85-1.14-0.80

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.

Growth of a $10,000 Investment

For the period 12/31/2008 through 11/30/2018

Ending Value: $35,468.00

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, 2018

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.

$432.5
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

44
Price/FFO
Price/FFO:

Price to Funds From Operations (P/FFO), the REIT equivalent of a security’s Price to Earnings ratio (P/E), is used to measure operating performance which encompasses a REIT’s net income, excluding gains or losses from sales of property, and adding back real estate depreciation.

Source: provided by Sub-Adviser

16.80
Weighted Average Market Cap millions
Weighted Average Market Cap:

Source: provided by Sub-Adviser

$17,820.0
Total

Top Holdings

% of Total Investments as of November 30, 2018

Simon Property Group, Inc.6.36
ProLogis, Inc.5.95
Equinix, Inc.5.57
Equity Residential5.09
AvalonBay Communities, Inc.4.07
Extra Space Storage, Inc.3.90
Welltower, Inc.3.89
Alexandria Real Estate Equities, Inc.3.49
CubeSmart3.41
Healthcare Trust of America, Inc.3.38
Total#,###.2

Portfolio Composition

as of November 30, 2018

Stocks100.00
Total#,###.2

Sector Weightings

% of Total Investments as of November 30, 2018

Residential19.72
Healthcare Facilities12.62
Office Buildings11.44
Net Leased Properties10.09
Technology Real Estate9.80
Industrial Properties8.91
Retail: Enclosed Malls8.87
Self Storage Property7.31
Retail: Community Shopping Centers5.66
Residential: Hotels5.57
Total#,###.2

Top Country Weightings

% of Total Investments as of November 30, 2018

United States100.00
Total#,###.2

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

Distributions

Distributions

Payment Frequency: Quarterly

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
Long-Term Capital Gain12/14/201812/17/201812/13/2018$3.222700
Income Dividend10/01/201810/02/201809/28/2018$0.087700
Income Dividend07/02/201807/03/201806/29/2018$0.099500
Income Dividend04/02/201804/03/201803/29/2018$0.096800
Income Dividend12/29/201701/02/201812/28/2017$0.137800
Long-Term Capital Gain12/15/201712/18/201712/14/2017$3.119100
Totals: $6.763600

Ratings

Morningstar™ Ratings

As of November 30, 2018

Overall3 Year5 Year10 Year
222 Funds222 Funds190 Funds138 Funds

Category: Fund Real Estate

Disclosures

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Risks of the REIT's are similar to those associated with direct ownership of Real Estate, such as changes in real estate values and property taxes, interest rates, cash flow of underlying real estate assets, supply and demand, and the management skill and credit worthiness of the issuer. Concentration of investments in one or more real estate industries, may subject the Fund to greater volatility than a portfolio which is less concentrated. Other risks of the Fund include but are not limited to: Initial Public Offerings Risks; Convertible Securities Risks; Manager Risks; Market Trends Risks; Non-Diversification Risks; Other Investment Companies Risks; Price Volatility Risks; Rule 144A Securities 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.