Voya Emerging Markets High Dividend Equity Fund

Effective May 6, 2019, Voya Investment Management Co. LLC will serve as the sole sub‐adviser to the Voya Emerging Markets High Dividend Equity Fund. As a result, the Fund's investment strategies, portfolio managers and fees will change. Please see press release for more details.

Class A: IHD
For more information call 1 (800) 334-3444
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Voya Emerging Markets High Dividend Equity Fund

The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation.

Daily Prices

as of October 21, 2020

Net Asset Value (NAV)$7.58
Closing Price$6.67
Price Change+0.01

Product Facts

Ticker SymbolIHD
Inception DateApril 26, 2011
Dividends PaidQuarterly

About this Product

  • Invests primarily in dividend producing equity securities of issuers located in emerging markets
  • Sells call options on selected ETFs and/or international, regional or country indices of equity securities, and/or on equity securities, with the underlying value of such calls representing 15% to 50% of total value of the Fund’s portfolio

Investment Objective

The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. 

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Average Annual Total Returns %

As of September 30, 2020

As of September 30, 2020

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRInceptionExpense Ratios
Net Asset Value-6.52+3.80+0.20+6.61-0.051.39%1.39%
Market Price-12.30+2.36-2.65+7.09-1.83
Net Asset Value-6.52+3.80+0.20+6.61-0.051.39%1.39%
Market Price-12.30+2.36-2.65+7.09-1.83

Inception Date - Class A:April 26, 2011

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.


Portfolio Statistics

As of September 30, 2020

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.

Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

Outstanding Shares19,039,289

Top Holdings

% of Total Investments as of September 30, 2020

Alibaba Group Holding Ltd.8.10
Tencent Holdings Ltd.5.99
Taiwan Semiconductor Manufacturing Co., Ltd.5.65
iShares MSCI Emerging Markets ETF3.74
Samsung Electronics Co., Ltd.3.09
Ping An Insurance Group Co. of China Ltd. - H Shares1.25
Meituan Dianping- Class B1.20
Infosys Ltd.1.09
Industrial & Commercial Bank of China - H Shares1.03
JD.com, Inc.0.99

Portfolio Composition

as of September 30, 2020

Short Terms0.83

Sector Weightings

% of Total Investments as of September 30, 2020

Information Technology20.57
Consumer Discretionary16.30
Communication Services11.75
Consumer Staples5.26
Not Classified - Mutual Fund3.77
Health Care3.74
Real Estate2.97

Top Country Weightings

% of Total Investments as of September 30, 2020

South Korea11.82
Emerging Markets3.74
South Africa2.95
Saudi Arabia1.85

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


Payment Frequency: Quarterly


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.

Ordinary Dividends
Ordinary Dividends:

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 Gains
Short Term Capital Gains:

The profit realized from the sale of securities held for less than one year.

Long Term Capital Gains
Long Term Capital Gains:

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.

Return of Capital
Return of Capital:

Returns of capital are distributions by investment companies in excess of tax-basis earnings and profits.

Total Amount
Totals: $0.7200

Investment Team

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Portfolio Management Team

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.
Paul Zemsky

Paul Zemsky, CFA

Chief Investment Officer, Multi-Asset Strategies and Solutions

Years of Experience: 36

Years with Voya: 15

Paul Zemsky is the chief investment officer and founder of the Multi-Asset Strategies and Solutions Team (MASS) at Voya Investment Management. He is responsible for the firm’s suite of value-added, customized and off-the-shelf products and solutions that are supported by the team’s asset allocation, manager research, quantitative research, portfolio implementation and multi-manager capabilities. Prior to joining the firm, he co-founded CaliberOne Private Funds Management, a macro hedge fund. Paul began his career at JPMorgan Investment Management, where he held a number of key positions, including head of investments for over $300 Billion of Fixed Income assets. Paul is a member of the firm’s Management Committee and a board member of Pomona Capital. He holds a dual degree in finance and electrical engineering from the Management and Technology Program at the University of Pennsylvania and holds the Chartered Financial Analyst® designation.
Vincent Costa

Vincent Costa, CFA

Head of Global Quantitative Equities

Years of Experience: 35

Years with Voya: 14

Vincent Costa is head of the global quantitative equities team and a portfolio manager for the active quantitative and fundamental large cap value strategies at Voya Investment Management. Previously at Voya, Vinnie was head of portfolio management for quantitative equity. Prior to joining Voya, he managed quantitative equity investments at both Merrill Lynch Investment Management and Bankers Trust Company. Vinnie earned an MBA in finance from New York University's Stern School of Business, a BS in quantitative business analysis from Pennsylvania State University, and is a CFA® Charterholder.
Peg DiOrio

Peg DiOrio, CFA

Head of Quantitative Equity Portfolio Management

Years of Experience: 27

Years with Voya: 8

Peg DiOrio is head of quantitative equity portfolio management and a portfolio manager for the active quantitative strategies at Voya Investment Management. Prior to joining Voya, she was a quantitative analyst with Alliance Bernstein/Sanford C. Bernstein responsible for multivariate and time series analysis for low volatility strategies, global equities, REITs, and options. Prior to that, she was a senior investment planning analyst with Sanford C. Bernstein. Peg formerly served as president of the Society of Quantitative Analysts and continues to serve on the board of directors. She is on the external advisory board for the Applied Math and Statistics Department of Stony Brook University. Peg earned a MS in Applied Mathematics, Statistics and Operations Research from the Courant Institute of Mathematical Sciences, NYU and a BS from SUNY Stony Brook. Peg is a CFA® Charterholder.
Steven Wetter

Steven Wetter

Portfolio Manager

Years of Experience: 32

Years with Voya: 8

Steven Wetter is a portfolio manager on the global quantitative equity team at Voya Investment Management responsible for the index, research enhanced index and smart beta strategies. Prior to joining Voya, Steve was co-head of international indexing at BNY Mellon responsible for managing ETFs, index funds and quantitative portfolios. Prior to that, he held similar positions at Northern Trust and Bankers Trust. Steve earned an MBA in finance from New York University's Stern School of Business and a BA from the University of California at Berkeley.

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Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Price volatility, liquidity, and other risks that accompany an investment in equity securities of domestic and foreign companies, and small and mid sized capitalized companies. International 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 for investments in emerging markets.

Options Risk

The Fund may purchase put and call options and may write (sell) put options and call options and is subject to Options Risk. The Fund will realize a gain or loss upon the expiration or closing of the option contract. When an option is exercised, the proceeds on sales of the underlying security for a written call option or purchased put option or the purchase cost of the security for a written put option or a purchased call option is adjusted by the amount of premium received or paid. The risk in writing a call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in buying an option is that the Fund pays a premium whether or not the option is exercised. Risks may also arise from an illiquid secondary market or from the inability of counterparties to meet the terms of the contract. A decision as to whether, when and how to buy or sell options under the Fund’s strategy involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. When an option purchased or sold by the Fund is exercised or closed out, the Fund may be required to sell portfolio securities or to deliver portfolio securities to the option purchaser to satisfy its obligations when it would not otherwise choose to do so, or the Fund may choose to sell portfolio securities to realize gains to offset the losses realized upon option exercise. Such sales or delivery would involve transaction costs borne by the Fund and may also result in realization of taxable capital gains, including short-term capital gains taxed at ordinary income tax rates, and may adversely impact the Fund’s after-tax returns.

This Fund has additional risks which you should consider, such as: Market Discount Risk, Investment and Market Risk, Emerging Markets and Foreign Investment Risk, Securities Market Risk, Industry Focused Risk, Geographic Focused Risk, Call Option Strategy Risk, Equity Risk, Dividend Producing Equity Securities Risk, Small-Cap and Mid-Cap Companies Risk, Derivatives Risk, Derivatives Regulation Risk, Distribution Risk, Tax Risk, Foreign Taxes, Management Risk, Market Disruption and Geopolitical Risk, Common Stock Risk, Illiquid Securities Risk, Current Capital Markets Environment Risk, Debt Securities Risk, Economic Risk, Entities with No or Poor Credit Ratings Risk, Financial Market Risk, Foreign (Non-U.S.) Currency Risk, Inflation Risk, International Sanctions Risk, Exchange-Traded Funds Risk, Interest Rate Risk, Investment and Repatriation Restrictions Risk, Issuer Risk, Portfolio Turnover Risk, , Risk of Investing in Other Investment Companies Risk, IPOs Risk, Depositary Receipts Risk, No Temporary Defensive Positions Risk, Securities Lending Risk and Short Sales Risk, Dividend Risk. These and other risks are described more fully in the Fund’s prospectus and the most current annual or semi-annual report. The prospectus should be read carefully before investing. Consider the Fund’s investment objective, risks, and charges and expenses carefully before investing.