Voya Russia Fund
Tap into the growth and income potential of the Russian equity market.
Product Facts
| Ticker Symbol | LETRX |
| CUSIP | 92913X886 |
| Inception Date | July 3, 1996 |
| Dividends Paid | Annually |
| Min. Initial Investment | $1,000.00 |
About this Product
- Normally invests at least 80% of its assets in equity securities of Russian companies
- Not constrained by investment style or market capitalization
- Seeks companies undervalued by the market because their pace of development or earnings growth have been underestimated
Investment Objective
The Fund seeks long-term capital appreciation through investment primarily in equity securities of Russian companies.
Management Team
View Fund Advisor/Sub AdvisorPortfolio Management Team
Voya Investments, LLC
Investment Adviser
NNIP Advisors B.V.
Investment Sub-Adviser
Renat Nadyukov
Portfolio Manager
Managed Fund since 2013
More InfoPerformance
Average Annual Total Returns %
As of November 30, 2018
As of September 30, 2018
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | -1.17 | +1.16 | +11.59 | -0.22 | +8.75 | 2.08% | 2.00% |
| With Sales Charge | -6.86 | -4.64 | +9.41 | -1.40 | +8.10 | ||
| Net Asset Value | +3.86 | +7.21 | +15.99 | +0.96 | +2.73 | 2.08% | 2.00% |
| With Sales Charge | -2.12 | +1.04 | +13.72 | -0.23 | +2.13 | ||
| Russia Trading System Index | +3.62 | +5.71 | +15.27 | +0.24 | +9.26 | — | — |
| Russia Trading System Index | +8.38 | +10.70 | +19.96 | +0.94 | +3.26 | — | — |
Inception Date - Class A:July 3, 1996
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 2019-03-01. Expenses are being waived to the contractual cap.
The Russia Trading System (RTS) Index is a capitalization weighted index that is calculated in U.S. dollars. The index tracks the performance of Russia's most active stocks traded on the Russian Trading System. The index is operated by the National Association of Participants in the Securities Markets, a non-profit body. the Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index
Returns Based Statistics
As of November 30, 2018
| 3 Year | 5 Year | 10 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. | 16.70 | 21.18 | 29.00 |
| 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. | 0.80 | 0.78 | 0.94 |
| 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. | 89.84 | 88.14 | 93.80 |
| 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. | -0.75 | -0.74 | 0.11 |
| 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. | 0.69 | 0.07 | 0.42 |
| 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. | 6.64 | 9.13 | 7.47 |
| 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. | -0.55 | -0.05 | -0.07 |
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: $23,129.00
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. | $74.6 |
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 26 |
| Total |
Top Holdings
% of Total Investments as of November 30, 2018
| Lukoil PJSC | 13.29 |
| Novatek PJSC | 7.13 |
| Sberbank PAO | 7.12 |
| MMC Norilsk Nickel PJSC | 5.45 |
| Tatneft | 5.06 |
| Yandex NV | 4.88 |
| PhosAgro OJSC | 4.82 |
| X5 Retail Group N.V. | 4.25 |
| EPAM Systems, Inc. | 4.17 |
| Halyk Savings Bank of Kazakhstan JSC | 4.12 |
| Total | #,###.2 |
Portfolio Composition
as of November 30, 2018
| Stocks | 95.26 |
| Short Terms | 4.74 |
| Total | #,###.2 |
Top Sectors
% of Total Investments as of November 30, 2018
| Energy | 45.46 |
| Financials | 17.04 |
| Materials | 11.92 |
| Communication Services | 10.32 |
| Information Technology | 5.54 |
| Consumer Staples | 4.47 |
| Utilities | 3.04 |
| Real Estate | 1.16 |
| Industrials | 1.07 |
| Total | #,###.2 |
Top Country Weightings
% of Total Investments as of November 30, 2018
| Russia | 84.78 |
| United States | 5.27 |
| Kazakhstan | 4.12 |
| Canada | 1.08 |
| 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: Annually
| 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 | 12/14/2018 | 12/17/2018 | 12/13/2018 | $0.758700 |
| Income Dividend | 12/15/2017 | 12/18/2017 | 12/14/2017 | $0.798600 |
| Totals: $1.557300 | ||||
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.
Ratings
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market stocks may be especially volatile. Prices of Value-Oriented Securities tend to correlate more closely with economic cycles than growth-oriented securities, they generally are more sensitive to changing economic conditions. Prices of Growth Stocks may be more volatile than value stocks due to their relatively high valuations, and growth investing may fall out of favor with investors. High-yield, lower grade debt securities and junk bonds are highly speculative and more volatile than with higher-grade Debt Securities. There is risk due to the extremely volatile and often illiquid nature of the Russian Securities Markets, and price volatility due to non-diversification of investments and geographic concentration. There is the Non-Diversification Risk that the Fund may invest a relatively high percentage of its assets in a limited number of issuers. The Fund Concentrates in a single region of the world, the Fund's performance may be more volatile and may be affected unfavorably by political developments, social instability, changes in government polices and other political and economic developments. Russian securities markets are substantially smaller, less liquid and more volatile than securities markets in the U.S. There may be a Lack of Reliable Financial Information and there is less transparency with Russian investments. Potential for Expropriation, Dilution, Devaluation, Default or Excessive Taxation by the Russian government. Other risks of the Fund include but are not limited to: Convertible and Debt Securities Risks; Market Trends Risks; Price Volatility Risks; Other Investment Companies' Risks; Political Risks; Settlement and Custody 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.