Voya Infrastructure, Industrials and Materials Fund

Class A: IDE
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Voya Infrastructure, Industrials and Materials Fund

This Closed-End Fund seeks total return through a combination of current income, capital gains and capital appreciation.

Daily Prices

as of March 22, 2018

Net Asset Value (NAV)$16.07
Closing Price$15.06
Price Change-0.28

Fund Facts

Ticker SymbolIDE
Inception DateJanuary 26, 2010
Dividends PaidQuarterly
Min. Initial Investment$2,000.00

About this Product

  • Invests primarily in companies in the infrastructure, industrials and materials sectors that will potentially benefit from the building, renovation, expansion and utilization of infrastructure
  • Seeks to build a diversified portfolio of 60-100 equity securities of companies that may potentially benefit from spending in six areas: power, construction, materials, communications, transportation and water
  • Sells call options on exchange traded funds (“ETFs”). The underlying value of such calls will generally represent 15% to 50% of the total underlying value of the portfolio.

Investment Objective

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

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.

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.
Martin Jansen

Martin Jansen

Portfolio Manager

Managed Fund since 2010

More Info
Martin Jansen is a portfolio manager on the global equity team at Voya Investment Management for the global equity strategy, infrastructure, industrials and materials fund and the international high dividend income fund at Voya Investment Management. He also has extensive experience running international value strategies. Previously, he was responsible for managing the transition of the U.S. equity trading facility and U.S. equity assets from former parent, ING Group in The Hague to ING Aeltus. Martin joined the firm to co-manage U.S. equity portfolios and was named head of the U.S. equity team in 1999. Prior to joining the firm, Martin was responsible for the U.S. equity and venture capital portfolios at a large corporate Dutch pension fund. He received a BComm and an MBA from the University of the Witwatersrand, South Africa.
Brian Madonick

Brian Madonick

Portfolio Manager

Managed Fund since 2010

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Brian Madonick is an analyst on the global equity team at Voya Investment Management covering the industrials sector. Brian also serves as a portfolio manager for the infrastructure development fund. Prior to joining the firm, Brian spent four years as the industrials analyst at U.S. Trust. Prior to U.S. Trust, he was a senior analyst at Bear Stearns covering aerospace and defense for the #1 ranked team per Institutional Investor magazine. Brian received a BA from Binghamton University.
Paul Zemsky

Paul Zemsky, CFA

Portfolio Manager

Managed Fund since 2010

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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.
Joseph Vultaggio

Joseph Vultaggio

Portfolio Manager

Managed Fund since 2010

More Info
Joseph Vultaggio is an analyst on the global equity team at Voya Investment Management, covering the industrials and utilities sectors. Joseph also serves as a portfolio manager for the infrastructure, industrials and materials fund. Prior to joining the firm, he received a BS degree in finance from Trenton State College and an MBA in finance at Rutgers Graduate School of Management.
Jody Hrazanek

Jody Hrazanek

Portfolio Manager

Managed Fund since 2015

More Info
Jody Hrazanek is head of strategy design and implementation for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. She is responsible for overseeing the portfolio implementation, strategy design and customized solutions teams for a variety of investment solutions including asset allocation, derivatives/financial engineering, risk management, portable alpha and structured products. Previously at Voya, she was a derivatives trader with responsibility for Voya IM’s third-party business as well as the firm’s general account. Prior to joining Voya, she was a convertible bond trader at Advent Capital Management. Prior to that, she was a convertible bond portfolio manager and risk arbitrage trader at Merrill Lynch Quantitative Advisors and Deutsche Bank Asset Management. Jody began her career as an analyst at Goldman Sachs. Jody graduated Summa Cum Laude from Fairfield University with a BS in mathematics and has a MS in statistics and operations research from New York University, Stern School of Business.

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Average Annual Total Returns %

As of February 28, 2018

As of December 31, 2017

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-1.50+14.55+8.62+7.83+7.991.22%1.22%
Market Price-7.42+20.89+10.08+7.48+6.70
Net Asset Value+21.52+21.52+9.84+8.59+8.381.22%1.22%
Market Price+39.63+39.63+13.11+10.86+7.89

Inception Date - Class A:January 26, 2010

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 February 28, 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.

Number of Holdings
Number of Holdings:

Number of Holdings in the investment.


Top Holdings

% of Total Investments as of February 28, 2018

BHP Billiton Ltd.2.79
Deere & Co.2.77
DowDuPont, Inc.2.74
General Dynamics Corp.2.68
Komatsu Ltd.2.54
Mitsubishi Corp.2.47
Shin-Etsu Chemical Co., Ltd.2.42
Siemens AG2.22
Roper Technologies, Inc.2.18

Portfolio Composition

as of February 28, 2018

Short Terms1.38

Sector Weightings

% of Total Investments as of February 28, 2018

Aerospace & Defense8.18
Electric Utilities8.15
Construction Machinery & Heavy Trucks7.11
Industrial Conglomerates6.60
Specialty Chemicals6.53
Diversified Chemicals6.42
Electrical Components & Equipment5.21
Industrial Machinery5.04
Integrated Telecommunication Services4.74
Agricultural & Farm Machinery4.20

Top Country Weightings

% of Total Investments as of February 28, 2018

United States43.25

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


Distributions: Last 12 Months

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.

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.

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:
Total Amount
Totals: $1.160000


Morningstar™ Ratings

As of March 23, 2018

No Morningstar™ Ratings are currently available for this share class.

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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

Under normal market conditions, the Fund seeks to manage risk by employing an integrated options collar strategy. The Fund’s collar strategy includes: employing put spreads by purchasing and selling put options and writing call options on energy and materials indices (“Resource Indices”) and/or ETFs, correlated with the Fund’s portfolio, or securities held in the Fund’s. 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 a 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: Infrastructure-Related Investment Risk, Industrials Sector Risk, Materials Sector Risk, Foreign Investment and Emerging Markets Risk, Equity Risk, Small-Cap and Mid-Cap Companies Risk, Investment and Market Risk, Derivatives Risk, Interest Rate Risk, Illiquid Securities Risk, Distribution Risk, Tax Risk, Foreign (non-U.S.) Currency Risk, Portfolio Turnover Risk, Management Risk, Initial Public Offering Risk, Depositary Receipts Risk, Securities Lending Risk, Market Disruption and Geopolitical Risk, Current Capital Markets Environment Risk, Anti-Takeover Provisions, No Temporary Defensive Positions Risk, Sub-Custody Risk, Short Sales Risk, Preferred Stock Risk, Convertible Securities Risk, High-Yield Lower-Grade Debt Securities Risk and Leverage 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, risk, and charges and expenses carefully before investing.