Voya CBRE Long/Short Fund
The Fund seeks to provide total return while attempting to preserve capital and mitigate risk.
About this Product
- Unconstrained, fundamental, long/short portfolio of real estate securities primarily listed in the U.S. with select exposure to international markets
- Long and short stock positions and management of market exposure may reduce portfolio volatility and help to minimize loss during market downturns
- Alternative investment strategies can potentially provide greater diversification to help mitigate risk*
The Fund seeks total return including capital appreciation and current income.
Portfolio Management Team
CBRE Clarion Securities, LLC
Steven D Burton, CFA
Joseph P Smith, CFA
T. Ritson Ferguson, CFA
Average Annual Total Returns %
As of February 28, 2019
As of December 31, 2018
|Most Recent Month End||YTD||1 YR||3 YR||5 YR||10 YR||Inception||Expense Ratios|
|Net Asset Value||+8.99||+4.53||+2.87||+2.07||—||+2.17||5.12%||4.97%|
|With Sales Charge||+2.69||-1.45||+0.86||+0.87||—||+1.33|
|Net Asset Value||-7.70||-7.70||-1.74||+1.09||—||+0.97||2.61%||2.61%|
|With Sales Charge||-13.04||-13.04||-3.66||-0.09||—||+0.12|
|HFRX Equity Hedge Index||+5.13||-6.52||+3.55||+0.43||—||+2.69||—||—|
|HFRX Equity Hedge Index||-9.42||-9.42||-0.09||-0.25||—||+2.02||—||—|
Inception Date - Class A:December 30, 2011
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, extraordinary expenses, Dividend, Interest and Stock Loan Expense on Securities Sold Short and may be subject to possible recoupment. Please see the Fund's prospectus for more information. The expense limits will continue through at least 2020-03-01. The Fund is operating under the contractual expense limits.
Growth of a $10,000 Investment, Calendar Year Returns, and Average Annual Total Returns reflect performance since December 30, 2011 when the Fund commenced operations as a registered investment company. On December 30, 2011, the Fund acquired substantially all the assets of another fund that was not a registered investment company and was not subject to the same investment and tax restrictions as the Fund. For more information on the performance of the Fund prior to December 30, 2011, please see the Fund’s prospectus
Returns Based Statistics
As of February 28, 2019
|3 Year||5 Year||10 Year|
A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk.
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.
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.
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.
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.
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.
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 12/30/2011 through 02/28/2019
Ending Value: $11,663.00
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.
Mutual fund investing involves risk, including possible loss of principal. In addition to the normal risks associated with investing, short sales losses are potentially unlimited and the expenses involved with the short strategy may impact the performance of the Fund. Short sales involve selling a security the Fund does not own in anticipation that the security’s price will decline. When the Fund sells a security short and the price of that security rises, it creates a loss. Short sales create leverage which may exaggerate any increase or decrease in the Fund’s net asset value causing the Fund to be more volatile than a fund that does not engage in short sales. There can be no assurance that the Fund will achieve its stated objectives. The Fund may engage in leveraging and other speculative investment practices which could increase the risk of loss. It may also invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gain or losses. Real estate investments are subject to changes in economic conditions, credit risk, and interest rate fluctuations. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. The Fund is non-diversified. Other risks of the Fund include but are not limited to: Company; Concentration; Convertible Securities; Currency; Initial Public Offerings; Investment Model; Liquidity; Market; Market Capitalization; and Other Investment Companies risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.
*Diversification does not ensure a profit or protect against a loss in a declining market.