Voya GNMA Income Fund - Class A

Class A: LEXNX
Class C: LEGNX
Class I: LEINX
Class R6: VGMBX
Class W: IGMWX
For more information call 1 (800) 334-3444
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Voya GNMA Income Fund

Pursuing Income with U.S. Government Backing

One of the oldest funds to invest in GNMAs, historically the highest yielding security backed by the U.S. government.

Daily Prices

as of October 21, 2020

Net Asset Value (NAV)$8.55
% Change0.00
$ Change0.00
YTD Return3.12%

The Voya GNMA Income Fund Offers

Higher-quality mortgage securities

GNMA securities are U.S. government backed with historically higher yields

30-year track record

Highly seasoned and nimble process that seeks to stay ahead of prepayment risk trends

Long-term focus

Typically invests 85-90% of assets in GNMA securities that can better withstand changing interest rate and prepayment volatility

Product Facts

Ticker SymbolLEXNX
Inception DateAugust 17, 1973
Dividends PaidMonthly
Min. Initial Investment$1,000.00

About this Product

  • Primarily invests in GNMA securities with maturities in excess of one year and which have the same credit quality as U.S. Treasury securities, but higher yields to compensate for prepayment uncertainty
  • Seeks to deliver attractive income and returns by selecting GNMAs that can better withstand the impacts of changing interest rates and prepayment volatility
  • One of the oldest mortgage-backed securities funds and the one with the longest manager tenure

Investment Objective

The Fund seeks a high level of current income, consistent with liquidity and safety of principal, through investment primarily in Government National Mortgage Association (GNMA) mortgage-backed securities (also known as GNMA Certificates) that are guaranteed as to the timely payment of principal and interest by the U.S. Government. While the Fund invests in securities of this nature, its shares are not insured or guaranteed.

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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 YRExpense Ratios
Net Asset Value+3.15+3.42+3.01+2.43+2.750.89%0.84%
With Sales Charge+0.53+0.81+2.13+1.91+2.49
Net Asset Value+3.15+3.42+3.01+2.43+2.750.89%0.84%
With Sales Charge+0.53+0.81+2.13+1.91+2.49
Bloomberg Barclays GNMA Index+3.31+3.86+3.38+2.74+2.91
Bloomberg Barclays GNMA Index+3.31+3.86+3.38+2.74+2.91

Inception Date - Class A:August 17, 1973

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.


As of September 30, 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.


Returns-Based Characteristics

As of September 30, 2020

3 Year5 Year10 Year
Standard Deviation
Standard Deviation:

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.

Sharpe Ratio
Sharpe Ratio:

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.

Information Ratio
Information Ratio:

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 10/31/2010 through 09/30/2020

Ending Value: $13,116.00

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.


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.

Duration years2.03
Weighted Average Life years
Weighted Average Life:

The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes.


Top Issuers

as of September 30, 2020

FANNIE MAE FNMA_10-1130.73

Credit Quality

% of Total Investments as of September 30, 2020

Not Rated0.00

Sector Allocation

% of Total Investments as of September 30, 2020

US Treasury & Cash-13.54

Maturity Details

% of Total Investments as of September 30, 2020

<1 Year2.56
1-3 Years21.94
3-5 Years44.30
5-7 Years32.80
7-10 Years9.13
10-20 Years2.81
>20 Years0.00

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


Morningstar™ Ratings

As of September 30, 2020

Overall3 Year5 Year10 Year
223 Funds223 Funds201 Funds167 Funds

Category: Intermediate Government


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.

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.

Income Dividend09/30/2020$0.011000
Income Dividend08/31/2020$0.014500
Income Dividend07/31/2020$0.019200
Income Dividend06/30/2020$0.018000
Income Dividend05/31/2020$0.018000
Income Dividend04/30/2020$0.018000
Income Dividend03/31/2020$0.018000
Income Dividend02/29/2020$0.018000
Income Dividend01/31/2020$0.020400
Income Dividend12/31/2019$0.021100
Income Dividend11/30/2019$0.020400
Income Dividend10/31/2019$0.020400
Income Dividend09/30/2019$0.019200
Totals: $0.236200

Investment Team

View Fund Adviser/Sub Adviser

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.
Jeff Dutra

Jeff Dutra, CFA

Senior Portfolio Manager, Structured Finance

Years of Experience: 18

Years with Voya: 20

Jeff Dutra is a senior portfolio manager for Voya Investment Management, primarily responsible for the mortgage-backed securities/collateralized mortgage obligation portfolios. Previously, he ran the operations and accounting groups at the firm, responsible for financial derivatives and mortgage derivatives. Jeff received a BA in mathematics from the University of South Florida and an MBA from the University of Tampa. He holds the Chartered Financial Analyst® designation.
Justin McWhorter

Justin McWhorter, CFA, CPA

Portfolio Manager, Structured Finance

Years of Experience: 19

Years with Voya: 19

Justin McWhorter is a senior portfolio manager at Voya Investment Management with the majority of his investment experience specializing in agency mortgage-backed securities and collateralized mortgage obligations. Currently, he manages several mortgage-only funds in addition to the agency mortgage sleeves of multi-sector fixed income products for Voya. Current and previous areas of focus include mortgage derivatives, agency debentures, mortgage repurchase agreements, dollar rolls, and the mortgage financing desk. He has earned his BS and MA from the University of Georgia, and holds both the Chartered Financial Analyst® and Certified Public Accountant designations.


Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. As Interest Rates rise, bond prices fall, reducing the value of the Fund's share price. To the extent that the Fund invests in asset-backed, Mortgage-Backed or Mortgage-Related Securities, its exposure to prepayment and extension risks may be greater than investments in other fixed-income securities. While the Fund invests in securities guaranteed by the U.S. Government as to timely payments of interest and principal, the Fund shares are Not Insured or Guaranteed. Other risks of the Fund include but are not limited to: Credit Risks; Extension Risks; Other Investment Companies' Risks; Prepayment Risks; U.S. Government Securities and Obligations Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.

The Morningstar® Analyst RatingTMis not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars (process, performance, people, parent and price). Morningstar’s analysts use this evaluation to identify funds they believe are more likely to outperform over the long term on a risk adjusted basis. Analysts consider quantitative and qualitative factors and the weighting of each pillar may vary. The Analyst Rating reflects an overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral Rating and a Negative Rating, with Gold being the highest rating and Negative being the lowest rating. Analyst ratings are reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to http://www.morningstar.com/InvGlossary/morningstar-analyst-rating-for-funds.aspx. The Morningstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Morningstar’s current expectations about future events. Morningstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly.