Voya Infrastructure, Industrials and Materials Fund
This Closed-End Fund seeks total return through a combination of current income, capital gains and capital appreciation.
|Inception Date||January 26, 2010|
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 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.
The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation.
Average Annual Total Returns %
As of November 30, 2020
As of September 30, 2020
|Most Recent Month End||YTD||1 YR||3 YR||5 YR||10 YR||Expense Ratios|
|Net Asset Value||-1.28||+1.34||-0.91||+5.67||+4.76||1.22%||1.22%|
|Net Asset Value||-9.51||-4.67||-2.77||+5.34||+4.28||1.22%||1.22%|
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.
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 2021-03-01. The Fund is operating under the contractual expense limits. Total investment return at market value measures the change in the market value of your investment assuming reinvestment of dividends and capital gain distributions, if any, in accordance with the provisions of the Fund’s dividend reinvestment plan. Total investment return at market value is not annualized for periods less than one year.
As of December 31, 2020
|Net Assets millions|
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.
% of Total Investments as of December 31, 2020
|Cisco Systems, Inc.||2.07|
|Honeywell International, Inc.||1.76|
|BHP Group Ltd.||1.68|
|iShares MSCI ACWI ETF||1.63|
|Verizon Communications, Inc.||1.54|
|Union Pacific Corp.||1.43|
|Schneider Electric SE||1.21|
|Air Liquide SA||1.19|
as of December 31, 2020
% of Total Investments as of December 31, 2020
|Integrated Telecommunication Services||6.92|
|Electrical Components & Equipment||4.28|
|Wireless Telecommunication Services||3.70|
Top Country Weightings
% of Total Investments as of December 31, 2020
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.
Date on which a declared stock dividend or a bond interest payment is scheduled to be paid.
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.
Access Section 19 notices.
The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. The final determination of the tax characteristics cannot be determined until after year end and reported to shareholders on Form 1099-DIV at that time.
To obtain an estimate of the components for each distribution please refer to the distribution press releases.
The Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund.
The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time, depending on whether the Fund has gains or losses on the call options written on its portfolio versus gains or losses on the equity securities in the portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of quarterly distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares will change. There can be no assurance that the Fund will be able to declare a distribution in each period.
Portfolio Management Team
Voya Investments, LLC
Voya Investment Management Co. LLC
Vincent Costa, CFA
Head of Global Quantitative Equities
Years of Experience: 36
Years with Voya: 15
Peg DiOrio, CFA
Head of Quantitative Equity Portfolio Management
Years of Experience: 28
Years with Voya: 9
Years of Experience: 33
Years with Voya: 9
Paul Zemsky, CFA
Chief Investment Officer, Multi-Asset Strategies and Solutions
Years of Experience: 37
Years with Voya: 16
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.
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.