Voya Emerging Markets Hard Currency Debt Fund
Emerging market opportunities without emerging market currency risk.
About this Product
- Invests up to 80% in debt instruments of emerging market countries denominated in U.S. Dollar and other foreign hard currencies.
- The Fund provides exposure to emerging market debt without currency risk of emerging markets.
- The Fund may invest in a range of fixed-income and floating rate debt instruments of issuers in emerging markets countries, including sovereign and corporate debt, through direct investment as well as investment in a combination of other Voya funds.
The Fund seeks total return including capital appreciation and current income.
Average Annual Total Returns %
As of October 31, 2020
As of September 30, 2020
|Most Recent Month End||YTD||1 YR||3 YR||5 YR||10 YR||Inception||Expense Ratios|
|Net Asset Value||+0.35||+2.18||+2.67||+4.95||—||+3.87||1.89%||1.15%|
|With Sales Charge||-2.14||-0.38||+1.79||+4.42||—||+3.55|
|Net Asset Value||0.00||+1.86||+2.70||+5.55||—||+3.87||1.89%||1.15%|
|With Sales Charge||-2.48||-0.69||+1.82||+5.02||—||+3.54|
|JP Morgan Emerging Markets Bond Index - Global Diversified Index||-0.54||+0.98||+3.35||+5.57||—||+4.53||—||—|
|JP Morgan Emerging Markets Bond Index - Global Diversified Index||-0.51||+1.29||+3.49||+6.15||—||+4.58||—||—|
Inception Date - Class A:August 1, 2017
Inception Date - Class P:August 9, 2012
Current Maximum Sales Charge: 2.50%
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 2021-08-01. Expenses are being waived to the contractual cap.
Historical performance shown for Class A reflects the historical performance of Class P shares adjusted to reflect the higher expenses of Class A for periods prior to the inception date of Class A and is being shown in blue text. Historical performance of Class A shares likely would have been different based on differences in share class expense ratios.
The JP Morgan Emerging Markets Bond Index is an unmanaged index that tracks debt securities of emerging markets. Investors cannot invest directly in an index.
As of October 31, 2020
|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.
|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).
|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.
|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.
As of October 31, 2020
|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.
Payment Frequency: Monthly
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.
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.
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.
Portfolio Management Team
Voya Investments, LLC
Voya Investment Management Co. LLC
Matt Toms, CFA
Chief Investment Officer, Fixed Income
Years of Experience: 26
Years with Voya: 11
Jean-Dominique Butikofer, CFA
Head of Emerging Markets
Years of Experience: 24
Years with Voya: 6
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market securities may be especially volatile. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. The Fund is subject to both Credit and Interest Rate Risk. The Fund's share price and yield will be affected by interest rate movements, with bond prices generally moving in the opposite direction from interest rates. Credit Risk refers to the bond issuers and senior loan issuers ability to make timely payments of principal and interest. High-Yield Securities, or “junk bonds”, are rated lower than investment-grade bonds because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. To the extent that the Fund invests in Mortgage-Related Securities, its exposure to prepayment and extension risks may be greater than investments in other fixed-income securities. Other risks of the Fund include but are not limited to: Borrowing/Leverage Risks; Debt Securities Risk; Non-Diversification Risks; Other Investment Companies' Risks; Price Volatility Risks; Inability to Sell Securities Risks; Securities Lending Risks; and Portfolio Turnover Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.