Voya Short Term Bond Fund
Short Term Bonds May Help Protect Investors in a Rising Rate Environment
A broadly diversified, actively managed short-term bond fund that seeks to maximize total return, generate income and reduce an investor’s overall duration exposure
The Voya Short Term Bond Fund Offers
Income potential with lower interest rate risk
Dynamic investment process adjusts with economic conditions
Focus on risk-adjusted returns
Short-Term Bond Average Total Returns (%) from 09/30/86 – 12/31/15
Source: Barclays, Morningstar®, Inc. Voya Investment Management
Asset class performance is represented by the following index: Barclays 1–3 Year Government/Credit Index. An index does not reflect fees, brokerage commissions, taxes or other expenses of investing.
Investors cannot directly invest in an index.
The performance quoted represents past performance and does not guarantee future results.
The Voya Difference
- Income potential with lower interest rate risk:
A short duration bond fund can help mitigate interest rate risk while seeking a high level of current income.
- Dynamic investment process adjusts with economic conditions:
We actively adjust allocations using a multi-sector approach, constructing a high quality short duration portfolio to take advantage of market opportunities.
- Focus on risk-adjusted returns:
Deep investment team – more than 100 professionals – that has produced strong risk-adjusted returns in both up and down markets.
About this Product
- Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowing for investment purposes) in a diversified portfolio of bonds or derivative instruments having economic characteristics similar to bonds
- The average dollar-weighted maturity of the Fund will not exceed 3 years
- The Fund invests in non-government issued debt securities, issued by companies of all sizes, rated investment grade, but may also invest up to 10% of its total assets in high yield securities rated B or better
- The Sub-Adviser employs a dynamic investment process that balances top-down macro-economic considerations and fundamental bottom-up analysis during the steps of its investment process - sector allocation, security selection, duration and yield curve management
The Fund seeks maximum total return.
Portfolio Management Team
Voya Investments, LLC
Voya Investment Management Co. LLC
Dave S Goodson
Head of Securitized
Years of Experience: 23
Years with Voya: 17
Randy Parrish, CFA
Head of Credit
Years of Experience: 29
Years with Voya: 18
Matt Toms, CFA
Chief Investment Officer, Fixed Income
Years of Experience: 25
Years with Voya: 10
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||+0.94||+2.19||+1.40||+1.08||—||+1.14||0.88%||0.81%|
|With Sales Charge||-1.60||-0.37||+0.56||+0.57||—||+0.72|
|Net Asset Value||+0.79||+0.79||+1.14||+1.00||—||+1.02||0.88%||0.81%|
|With Sales Charge||-1.72||-1.72||+0.30||+0.48||—||+0.59|
|Bloomberg Barclays U.S. 1-3 Year Government/Credit Bond Index||+0.55||+2.52||+1.22||+1.07||—||+1.03||—||—|
|Bloomberg Barclays U.S. 1-3 Year Government/Credit Bond Index||+1.60||+1.60||+1.24||+1.03||—||+0.97||—||—|
Inception Date - Class A:December 19, 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 2019-08-01. Expenses are being waived to the contractual cap.
The Barclays 1-3 Year Government/Credit Index covers treasuries, agencies, publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. For comparison purposes, the index is fully invested, which includes the reinvestment of income. The returns for the index do not include any transaction costs, management fees or other costs. Investors cannot invest directly in an index.
As of February 28, 2019
|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 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 12/19/2012 through 02/28/2019
Ending Value: $10,726.00
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.
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. 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: Company; Credit Default Swaps; Currency; Investment Model; Market; Market Capitalization; Municipal Obligations; Other Investment Companies'; Price Volatility; Prepayment and Extension; Securities Lending; Sovereign Debt and U.S. Government Securities and Obligations 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 guarantee a profit or ensure against market loss.