Voya MidCap Opportunities Fund - Class A

Class A: NMCAX
Class C: NMCCX
Class I: NMCIX
Class R: IMORX
Class R6: IMOZX
Class W: IMOWX
For more information call 1 (800) 334-3444
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Voya MidCap Opportunities Fund

Seeking a More Favorable Risk/Return Trade-off

Mid-Caps have historically delivered stronger returns than both large- and small caps but remain an under-utilized asset class

Daily Prices

as of September 24, 2021

Net Asset Value (NAV)$26.00
% Change0.00
$ Change0.00
YTD Return17.00%

The Voya MidCap Opportunities Fund Offers

Identifying underappreciated companies

Research-intensive process

Historically strong risk-adjusted returns

Product Facts

Ticker SymbolNMCAX
Inception DateAugust 20, 1998
Dividends PaidAnnually
Min. Initial Investment$1,000.00

About this Product

  • Invests primarily in stocks of mid-sized U.S. companies with above average prospects for growth and which fall within the range of companies in the Russell Midcap® Growth Index
  • Fundamentals-based stock selection seeks companies with positive business momentum, market recognition, and valuations with upside potential
  • Provides investors with access to the underutilized MidCap asset class

Investment Objective

The Fund seeks long-term capital appreciation.

My Representatives

Broker/Dealer Services


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Average Annual Total Returns %

As of August 31, 2021

As of June 30, 2021

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+15.61+40.04+20.20+19.00+15.281.28%1.28%
With Sales Charge+8.96+31.97+17.84+17.61+14.60
Net Asset Value+9.81+48.13+20.91+18.58+13.401.28%1.28%
With Sales Charge+3.49+39.63+18.54+17.18+12.73
Russell Midcap Growth Index+15.18+35.17+20.96+20.44+16.88
Russell Midcap Growth Index+10.44+43.77+22.39+20.52+15.13

Inception Date - Class A:August 20, 1998

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-Based Characteristics

As of August 31, 2021

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.


Growth of a $10,000 Investment

For the period 09/30/2011 through 08/31/2021

Ending Value: $41,430.00

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 August 31, 2021

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.

P/E next 12 months

P/E (next 12 months) calculates the price of a stock divided by its earnings per share.

P/B trailing 12 months

Price to book ratio (trailing 12 month) calculates the ratio of a stock’s price to its book value.

Weighted Average Market Cap millions
Weighted Average Market Cap:

Weighted Average Market Capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock.

EPS Growth (3-5 Year Estimate)
EPS Growth (3-5 Year Estimate):

The portion of a company's profit allocated to each outstanding share of common stock. EPS growth serves as an indicator of a company's profitability.

Active Share
Active Share:

Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index.

Price to Cash Flow
Price to Cash Flow:

The ratio of a stock’s price to its cash flow per share. The price-to-cash flow ratio is an indicator of a stock’s valuation


ROA is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings.


Top Holdings

% of Total Investments as of August 31, 2021

DocuSign, Inc.3.41
DexCom, Inc.2.90
Quanta Services, Inc.2.65
MSCI, Inc. - Class A2.59
Horizon Therapeutics Plc2.55
Chipotle Mexican Grill, Inc.2.42
Lululemon Athletica, Inc.2.38
CDW Corp.2.35
Waste Connections, Inc.2.35
Entegris, Inc.2.31

Sector Weightings

% of Total Investments as of August 31, 2021

Information Technology35.22
Health Care17.68
Consumer Discretionary16.74
Communication Services3.67
Consumer Staples1.99
Real Estate1.83

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


Morningstar™ Ratings

As of August 31, 2021

Overall3 Year5 Year10 Year
548 Funds548 Funds490 Funds384 Funds

Category: Mid-Cap Growth


Payment Frequency: Annually


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.

Short-Term Capital Gain12/16/202012/17/202012/15/2020$2.430600
Long-Term Capital Gain12/16/202012/17/202012/15/2020$2.660000
Totals: $5.090600

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.
Jeffrey Bianchi

Jeffrey R Bianchi, CFA

Head of Growth and Portfolio Manager

Years of Experience: 27

Years with Voya: 27

Jeffrey Bianchi is head of the growth team and a portfolio manager for the large cap growth and mid cap growth strategies at Voya Investment Management. Jeff started his career as a quantitative analyst and subsequently served as a fundamental analyst on the growth team covering the health care, technology, and industrials sectors for large cap growth strategies. He became Assistant Portfolio Manager for the growth team in 2000, was named a lead portfolio manager on the mid cap growth strategy in 2005, and was named a lead portfolio manager on the large cap growth strategy in 2008. Jeff earned an MA in economics, a BA in economics, and a BS in finance from the University of Connecticut, and is a CFA® Charterholder.
Kristy Finnegan

Kristy R Finnegan, CFA

Portfolio Manager

Years of Experience: 21

Years with Voya: 20

Kristy Finnegan is a portfolio manager on the growth team for the large and mid cap growth strategies at Voya Investment Management. She also covers technology sectors. Prior to rejoining the growth team, Kristy served four years as a portfolio manager for the large cap value strategies. Previously at Voya, Kristy was an analyst covering both consumer and technology stocks, including several year with the growth team covering consumer stocks. Prior to joining Voya, Kristy was an investment banking analyst at SunTrust Equitable Securities where she focused on deals primarily in the education and health care sectors. Kristy earned a BS in economics from Vanderbilt University and is a CFA® Charterholder.
Michael Pytosh

Michael Pytosh

Chief Investment Officer, Equities

Years of Experience: 35

Years with Voya: 17

Michael Pytosh is the chief investment officer, equities at Voya Investment Management. Mike also serves as a portfolio manager on the growth team responsible for the large cap growth and mid cap growth strategies. Previously at Voya, Mike covered the technology sector as an analyst. Prior to joining Voya, he was president of Lincoln Equity Management, LLC and a technology analyst. Mike also served as a technology analyst at JPMorgan Investment Management and an analyst at Lehman Brothers. Mike started his career at American Express. Mike earned a BS in accounting from Arizona State University and is a member of the Institute of Electrical and Electronic Engineers.


Principal Risks

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. Investing in stocks of Mid-Sized Companies may entail greater volatility and less liquidity than larger companies. 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. Other risks of the Fund include but are not limited to: Growth Investing Risks; Market Trends 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.

On March 23, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued an order providing registered funds with temporary flexibility with respect to borrowing. In connection with this order, on March 30, 2020, the Fund’s Board of Trustees (the “Board”) approved a policy permitting the Fund to deviate from its fundamental policy with respect to borrowing (as set forth in the Fund’s Statement of Additional Information under the section titled “Fundamental and Non‐Fundamental Investment Restrictions”) for the period from March 30, 2020 until June 30, 2020 (unless extended by the Board upon any extension of the order by the SEC).

During this time, the Fund may borrow money in an amount of up to 331/3% of the Fund’s total assets to meet short‐term needs, such as in connection with redemptions. The Fund incurs interest and other expenses when it borrows money. Borrowing creates leverage, which may increase expenses and increase the impact of the Fund’s other risks. The use of leverage 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 borrow.

The Russell Midcap Growth Index is an unmanaged index that measures the performance of those companies included in the Russell Midcap Index with relatively higher price-to- book ratios and higher forecasted growth values. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000 Index and includes approximately 1,000 of the largest securities based on a combination of the market cap and current index membership. Russell 2000 Index measures the performance of the smallcap segment of the U.S. equity universe. The Russell 2000 Index is a a subset of the Russell 3000 Index. It includes approximately 2,000 of the smallest securities based on a combination of the market cap and current index membership. Investors cannot invest directly in an index.