Effective February 1, 2022, the Voya SmallCap Opportunities Fund has appointed a new Voya Small Cap Growth portfolio management team, formerly part of Tygh Capital Management.
As previously announced, on January 4, 2022, Voya Investment Management acquired the investment advisory business and certain other assets of small-cap growth specialist Tygh Capital Management ("TCM"). TCM, located in Portland, Oregon, was founded in July 2004 by a team of seasoned investment professionals with an average of 26 years of industry experience. The team adheres to a disciplined bottom-up process that has resulted in a long history of small cap investing.
Voya SmallCap Opportunities Portfolio
The Portfolio seeks long-term capital appreciation.
Product Facts
| Ticker Symbol | IVSOX |
| CUSIP | 92913P701 |
| Inception Date | May 6, 1994 |
| Dividends Paid | Quarterly |
About this Product
- A small-cap growth portfolio of companies selling at attractive prices
- Seeks companies selling at reasonable cash flow multiples
- Robust investment process balances quantitative screening, fundamental research, and targeted economic sector analysis
Investment Objective
The Portfolio seeks long-term capital appreciation.
Performance
Average Annual Total Returns %
As of October 31, 2023
As of September 30, 2023
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +0.18 | -3.48 | +0.41 | +2.35 | +4.72 | 1.07% | 0.86% |
| With Sales Charge | +0.18 | -3.48 | +0.41 | +2.35 | +4.72 | ||
| Net Asset Value | +7.83 | +13.82 | +3.70 | +1.21 | +5.74 | 1.07% | 0.86% |
| With Sales Charge | +7.83 | +13.82 | +3.70 | +1.21 | +5.74 | ||
| Russell 2000 Index | -4.45 | -8.56 | +3.95 | +3.31 | +5.63 | — | — |
| Russell 2000 Growth Index | -2.87 | -7.63 | -1.83 | +2.68 | +5.67 | — | — |
| Russell 2000 Index | +2.54 | +8.93 | +7.16 | +2.40 | +6.65 | — | — |
| Russell 2000 Growth Index | +5.24 | +9.59 | +1.09 | +1.55 | +6.72 | — | — |
Inception Date - Class I:May 6, 1994
Current Maximum Sales Charge: 0.00%
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 Russell 2000 Growth Index is an unmanaged index that measures the performance of smaller U.S. companies with greater-than-average growth orientation. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.
The Russell 2000 Index is an unmanaged index that measures the performance of securities of smaller U.S. companies. 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.
Yields
As of February 28, 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. | -0.08 |
| 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). | -0.08 |
| 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. | 0.07 |
| 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. | 0.07 |
Returns-Based Characteristics
As of October 31, 2023
| 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. | 1.69 | -0.32 | -0.72 |
| 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. | 0.90 | 0.96 | 0.95 |
| 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. | 0.44 | -0.07 | -0.25 |
| 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. | 0.96 | 0.96 | 0.96 |
| 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. | -0.08 | 0.02 | 0.18 |
| 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. | 21.49 | 23.58 | 19.50 |
Growth of a $10,000 Investment
For the period 11/30/2013 through 10/31/2023
Ending Value: $15,854.00
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 October 31, 2023
| 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. | $170.9 |
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 93 |
| P/E next 12 months P/E: P/E (next 12 months) calculates the price of a stock divided by its earnings per share. | 21.07 |
| P/B trailing 12 months P/B: Price to book ratio (trailing 12 month) calculates the ratio of a stock’s price to its book value. | 5.17 |
| Weighted Average Market Cap millions Weighted Average Market Cap: Weighted Average Market Capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. | $4,619.8 |
| EPS Growth (3-5 Year Estimate) EPS Growth (3-5 Year Estimate): The portion of a company's profit allocated to each outstanding share of common stock. EPS growth serves as an indicator of a company's profitability. | 16.76 |
| Active Share Active Share: Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. | 83.20 |
| Price to Cash Flow Price to Cash Flow: The ratio of a stock’s price to its cash flow per share. The price-to-cash flow ratio is an indicator of a stock’s valuation | 22.70 |
| ROA % ROA: ROA is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings. | 2.60 |
| Total |
Top Holdings
% of Total Investments as of October 31, 2023
| Churchill Downs Incorporated | 2.68 |
| MAXIMUS, Inc. | 2.65 |
| Natera, Inc. | 2.21 |
| CACI International Inc | 2.03 |
| Construction Partners, Inc. | 1.90 |
| Weatherford International plc | 1.88 |
| Smartsheet, Inc. | 1.87 |
| Ensign Group, Inc. | 1.79 |
| Summit Materials, Inc. | 1.77 |
| Universal Display Corporation | 1.55 |
| Total | #,###.2 |
Portfolio Composition
as of October 31, 2023
| Mutual Funds | 1.28 |
| EM Equity | 1.59 |
| Cash | 3.40 |
| Foreign Stocks | 1.65 |
| US Common Stocks | 92.08 |
| Total | #,###.2 |
Sector Weightings
% of Total Investments as of October 31, 2023
| INDUSTRIALS | 26.75 |
| INFORMATION TECHNOLOGY | 24.21 |
| HEALTH CARE | 21.12 |
| CONSUMER DISCRETIONARY | 9.24 |
| FINANCIALS | 8.29 |
| ENERGY | 5.54 |
| MATERIALS | 3.94 |
| CONSUMER STAPLES | 0.90 |
| COMMUNICATION SERVICES | 0.00 |
| REAL ESTATE | 0.00 |
| UTILITIES | 0.00 |
| Total | #,###.2 |
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Distributions
No distributions paid in the last 12 months.
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
Michael Coyne, CFA
Head of Small Cap Growth, Portfolio Manager
Years of Experience: 26
Years with Voya: 1
Mitchell Brivic, CFA
Portfolio Manager
Years of Experience: 28
Years with Voya: 1
Scott Haugan, CFA
Portfolio Manager
Years of Experience: 24
Years with Voya: 1
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. In exchange for higher growth potential, investing in stocks of Smaller Companies may entail greater price volatility and less liquidity than investing in stocks of larger companies. Other risks of the Portfolio include but are not limited to: Growth Investing Risks; Market Trends Risks; Other Investment Companies Risks; Price Volatility Risks; Inability to Sell Securities Risks; and Securities Lending Risks. Investors should consult the Portfolio’s Prospectus and Statement of Additional Information for a more detailed discussion of the Portfolio’s risks.
An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.