Voya GNMA Income Fund - Class A

GNMA Lipper Award

Class A: LEXNX
Class C: LEGNX
Class I: LEINX
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 November 15, 2018

Net Asset Value (NAV)$8.11
% Change+0.12
$ Change+0.01
YTD Return-1.16%
Morningstar™ Overall RatingClass I as of 10/31/18Out of 209 FundsCategory: Fund Intermediate Government

The Voya GNMA Income Fund Offers

High quality mortgage securities

30 year legacy of GNMA investing

Long-term focus

Voya GNMA Income Fund Calendar Year Returns 30 years ending 12/31/17

Voya GNMA Income Fund Calendar Year Returns 30 years ending 12/31/17

Source: Morningstar®, Inc. Class A annual returns are for the year ended December 31 of each year. Returns do not reflect sales charges and would be lower if they did.
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. For performance information current to the most recent month-end, please visit www.voyainvestments.com.
The performance quoted represents past performance and does not guarantee future results.

The Voya Difference

  • High quality mortgage securities
    GNMA Securities are U.S. government backed like U.S. Treasuries, but they historically have paid higher yields.
  • 30 year legacy of GNMA Investing
    The Fund, from over 30 years of experience in GNMA investing, has developed a nimble process that seeks to stay ahead of prepayment risk trends.
  • Long-term focus
    Typically invests 85-90% of assets in GNMA securities, with a disciplined process to navigate different market cycles and minimize prepayment risk.

Product Facts

Ticker SymbolLEXNX
CUSIP92913L692
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.

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.
Jeff Dutra

Jeff Dutra, CFA

Portfolio Manager

Managed Fund since 2009

More Info
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

Managed Fund since 2009

More Info
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.
Peter Guan

Peter Guan, PhD

Portfolio Manager

Managed Fund since 2009

More Info
Peter Guan is the head of the mortgage derivatives group at Voya Investment Management, which manages a multi-billion dollar suite of mortgage derivatives products for affiliated and external clients. Before joining the firm, Peter worked at Citi Alternative Investment group, where he managed a portfolio of mortgage products while designing a platform and strategy for a mortgage hedge fund. Prior to Citi he worked at the Clinton Group, a New York-based hedge fund, in research, trading and portfolio management, including mortgage derivatives and other mortgage products. Peter received a BA in mathematics from Ocean University of China, an MS in computational finance from Carnegie Mellon University and a PhD in mathematics from the University of South Florida.

My Representatives

Broker/Dealer Services

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of October 31, 2018

As of September 30, 2018

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRExpense Ratios
GrossNet
Net Asset Value-1.50-1.58+0.48+1.40+3.290.95%0.95%
With Sales Charge-3.91-4.09-0.36+0.90+3.03
Net Asset Value-0.85-0.98+0.71+1.67+3.210.95%0.95%
With Sales Charge-3.28-3.49-0.14+1.16+2.94
Bloomberg Barclays GNMA Index-1.65-1.58+0.57+1.54+3.44
Bloomberg Barclays GNMA Index-0.91-0.89+0.88+1.85+3.38

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.

Yields

As of October 31, 2018

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.

2.66
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).

2.67
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.

2.40
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.

2.34

Returns Based Statistics

As of October 31, 2018

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.

1.701.752.34
Beta
Beta:

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.

0.890.850.89
R2
R2:

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.

96.9895.1395.45
Alpha
Alpha:

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.

-0.130.020.18
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.

-0.210.511.26
Tracking Error
Tracking Error:

A measure of how closely the returns of a portfolio tend to follow the returns of the index to which it is benchmarked; specifically, the variability of excess returns around the average.

0.370.500.58
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.

-0.25-0.27-0.27

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 11/30/2008 through 10/31/2018

Ending Value: $13,813.00

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

Portfolio Statistics

As of October 31, 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.

$880.3
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

546
Duration years5.44
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.

11.34
Total

Portfolio Composition

as of October 31, 2018

FNMA and FHLMC CMO11.20
FNMA and FHLMC MBS5.51
GNMA CMO43.67
GNMA MBS67.85
Other4.47
US Treasury & Cash-32.70
Total#,###.2

Top Ten Issuers

as of October 31, 2018

GOVERNMENT NATIONAL MORTGAGE A38.26
GNMA2 30YR35.01
GINNIE MAE II30.01
FGOLD 30YR3.68
FANNIE MAE3.47
GINNIE MAE I2.99
FREDDIE MAC GOLD2.04
FANNIE MAE FNMA_10-1131.23
FANNIE MAE FNMA_05-171.15
GINNIE MAE GNMA_10-H010.73
Total#,###.2

Credit Quality

% of Total Investments as of October 31, 2018

AAA132.70
Treasuries/Cash-32.70
Total#,###.2

Top Country Weightings

% of Total Investments as of October 31, 2018

United States100.00
Total#,###.2

Maturity Details

% of Total Investments as of October 31, 2018

Cash-32.70
<1 Year0.07
1-3 Years4.22
3-5 Years10.89
5-7 Years25.99
7-10 Years50.44
10-20 Years40.73
>20 Years0.36
Total#,###.2

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

Distributions

Distributions

Payment Frequency: Monthly

Ex-Date
Ex-Date:

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.

Amount
Income Dividend10/31/2018$0.016400
Income Dividend09/30/2018$0.016500
Income Dividend08/31/2018$0.016400
Income Dividend07/31/2018$0.016400
Income Dividend06/30/2018$0.016500
Income Dividend05/31/2018$0.016400
Income Dividend04/30/2018$0.016500
Income Dividend03/31/2018$0.016400
Income Dividend02/28/2018$0.016400
Income Dividend01/31/2018$0.016400
Income Dividend12/31/2017$0.016400
Income Dividend11/30/2017$0.016500
Income Dividend10/31/2017$0.016400
Totals: $0.213600

Ratings

Morningstar™ Ratings

As of October 31, 2018

Overall3 Year5 Year10 Year
209 Funds209 Funds196 Funds146 Funds

Category: Fund Intermediate Government

Disclosures

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 Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. Classification averages are calculated with all eligible share classes for each eligible classification. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. For a detailed explanation please review the Lipper Leaders methodology document at www.lipperweb.com. From Thomson Reuters Lipper Awards, © 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited.