Voya Target Retirement 2025 Fund - Class A

Class A: VTRCX
Class I: IRSLX
Class R6: VTRDX
For more information call 1 (800) 334-3444
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Voya Target Retirement 2025 Fund

A Target Date Choice to Help Keep Retirement Goals on Track

Voya’s Target Retirement Funds are designed to specifically balance the evolving risk-return profiles of participants as they age to maximize the probability of a successful retirement. The target date in the funds’ name is the approximate date when investors plan to start withdrawing their money.

Daily Prices

as of November 25, 2022

Net Asset Value (NAV)$11.06
% Change+0.09
$ Change+0.01
YTD Return-15.38%

The Voya Target Retirement 2025 Fund Offers

Participant Focused Glide Path

Multi-Manager*

Active/Passive Blend

A Portfolio that Adjusts as Participants’ Careers Progress

At Voya, our glide path relative to peers has a higher equity allocation for younger participants to build wealth and a lower equity allocation for participants near and in retirement to reduce risk in those critical years. Younger participants can afford to take on more investment risk in exchange for greater potential returns. However, in the later years, participants are more vulnerable to a market downturn, particularly the day they retire.

 

A Portfolio that Adjusts as Participants’ Careers Progress

Source: Voya Investment Management

The Portfolio may periodically deviate from the Target Allocation, generally within the range of +/- 10% relative to the current Target Allocation. The sub-adviser may determine to deviate by a wider margin in order to protect the Portfolio, achieve its investment objective, or to take advantage of particular opportunities. This chart is for illustrative purposes only and may not reflect the current allocations of the Voya Target Solution Trust Series. This illustration is intended to show how the Voya Target Solution Trust Series transitions over time.

The Voya Difference

  • Participant Focused Glide Path
    Seeks to maximize wealth in early years and reduce risk in later years. More equity relative to peers in early years, less equity relative to peers in later years†
  • Multi-Manager*
    Voya is a pioneer of the multi-manager TD approach, with 10 years+ of experience. Access to Voya’s investment capabilities and other well-recognized asset managers
  • Active/Passive Blend
    Active managers offer the potential for excess returns in less efficient asset classes. Passive managers offer cost effective exposure to highly efficient asset classes within a competitive fee structure

† Between 50-40 years out from the fund’s ‘target date’ the Voya Target Retirement Funds allocate 95% to equities compared to the industry average of 89%. At the ‘target date’ the Voya Target Retirement Funds allocate 35% to equities compared to the industry average of 42%. Source: Morningstar. Average includes all mutual fund and VP target date suites in Morningstar. Equity allocations based on Years to Target (YTT) Stock glide path data in Morningstar® Direct.


* Multi-Manger refers to the use of investment managers including Voya Investment Management and outside managers, which may be offered through affiliated sub-advised funds. The Target Retirement Funds have a 50% cap on the use of unaffiliated funds.

Product Facts

Ticker SymbolVTRCX
CUSIP92913M666
Inception DateDecember 21, 2015
Dividends PaidAnnually
Min. Initial Investment$1,000.00

About this Product

Voya Target Retirement Funds maximize asset accumulation in the early years of participants’ careers, taking aggressive equity positions. The funds shift emphasis to asset protection in later years, reducing risk and ultimately reaching their most conservative equity allocation of 35% at retirement to help investors hold onto what they have accumulated in a lifetime of saving.

The Voya Target Retirement 2025 Fund is designed for people who plan to begin living their retirement goals in the years 2023 to 2027. Currently, it is designed to reduce volatility to help preserve existing assets.

Investment Objective

Until the day prior to its Target Date, the Fund seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2025. On the Target Date, the Fund's investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.

My Representatives

Contact your Voya Representative to gain access to program materials.

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of October 31, 2022

As of September 30, 2022

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRInceptionExpense Ratios
GrossNet
Net Asset Value-19.28-18.29+1.50+2.88+5.300.52%0.52%
With Sales Charge-23.94-23.00-0.49+1.68+4.67
Net Asset Value-21.65-18.30+0.93+2.54+5.020.52%0.52%
With Sales Charge-26.17-23.00-1.05+1.34+4.39
S&P Target Date 2025 Index-15.59-14.66+2.41+3.65+5.96
S&P Target Date 2025 Index-18.31-15.16+1.81+3.24+5.66

Inception Date - Class A:December 21, 2015

Inception Date - Class I:December 20, 2012

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 October 31, 2022

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.

13.7711.72
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.

1.121.08
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.

0.990.99
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.

-1.00-0.88
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.

0.140.21
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.

-0.48-0.49

Growth of a $10,000 Investment

For the period 12/21/2015 through 10/31/2022

Ending Value: $13,824.00

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, 2022

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.

$64.9
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

13
Total

Top Holdings

% of Total Investments as of October 31, 2022

TIAA-CREF S&P 500 Index Fund32.90
Voya Intermediate Bond Fund - Class P328.66
Vanguard FTSE Developed Markets ETF7.00
iShares Core U.S. Aggregate Bond ETF6.47
iShares Core S&P Small-Cap ETF4.09
Schwab U.S. TIPS ETF3.99
Vanguard Mid-Cap ETF3.05
Voya Multi-Manager International Factors Fund - Class P32.97
iShares 20+ Year Treasury Bond ETF2.96
Voya Global Bond Fund - Class P32.96
Total#,###.2

Portfolio Composition

as of October 31, 2022

Large Cap U.S.32.90
Core Plus Fixed Income28.66
International11.95
Core Fixed Income6.47
Small Cap U.S.4.09
TIPS3.99
Mid Cap U.S.3.05
Long Gov't Bonds2.96
Global Bond2.96
Emerging Markets1.98
Global International0.99
Total#,###.2

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

Ratings

Morningstar™ Ratings

As of October 31, 2022

Overall3 Year5 Year10 Year
200 Funds200 Funds170 FundsN/A

Category: Target-Date 2025

Distributions

Payment Frequency: Annually

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 Dividend12/31/202101/03/202212/30/2021$0.262800
Short-Term Capital Gain12/31/202101/03/202212/30/2021$0.573900
Long-Term Capital Gain12/31/202101/03/202212/30/2021$0.983500
Totals: $1.820200

Investment Team

View Fund Adviser/Sub Adviser

Portfolio Management Team

Voya Investments, LLC

Investment Adviser

Voya Investments, an Arizona limited liability company, serves as the investment adviser to the Fund. Voya Investments has overall responsibility for the management of the Fund. Voya Investments oversees all investment advisory and portfolio management services and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. Voya Investments is registered with the SEC as an investment adviser. Voya Investments' principal office is located at 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, Arizona 85258.

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.
Barbara Reinhard

Barbara Reinhard, CFA

Managing Director, Head of Asset Allocation

Years of Experience: 33

Years with Voya: 6

Barbara Reinhard is the head of asset allocation for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management, responsible for strategic and tactical asset allocation decisions for the team’s multi-asset strategies. Prior to joining Voya, Barbara was the chief investment officer for Credit Suisse Private Bank in the Americas where she managed discretionary multi-asset portfolios and was a member of the global asset allocation and the pension investment committees. Prior to that, Barbara worked at Morgan Stanley, first in the fixed income division and later became the deputy chief investment strategist for the global wealth management division. Barbara earned a BA in economics from Trinity College and is a CFA® Charterholder.
Paul Zemsky

Paul Zemsky, CFA

Chief Investment Officer, Multi-Asset Strategies and Solutions

Years of Experience: 38

Years with Voya: 17

Paul Zemsky is the chief investment officer and founder of the Multi-Asset Strategies and Solutions Team (MASS) at Voya Investment Management. He is responsible for the firm’s suite of value-added, customized and off-the-shelf products and solutions that are supported by the team’s asset allocation, manager research, quantitative research, portfolio implementation and multi-manager capabilities. Paul also oversees two independent platforms that joined the firm as part of Voya’s acquisition of Allianz Global Investors U.S., the Income and Growth platform based in San Diego and the Equity platform based in San Francisco. Prior to joining Voya, he co-founded CaliberOne Private Funds Management, a macro hedge fund. Paul began his career at JPMorgan Investment Management, where he held a number of key positions, including head of investments for over $300 Billion of fixed income assets. Paul is a member of the firm’s Management Committee and a board member of Pomona Capital. He holds a dual degree in finance and electrical engineering from the Management and Technology Program at the University of Pennsylvania and is a CFA® Charterholder.

Disclosures

Principal Risks

There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time, including the target date.

The “target date” is the approximate date when an investor plans to start withdrawing their money. When their target date is reached, they may have more or less than the original amount invested. For each target-date portfolio, until the day prior to its target date, the portfolio will seek to provide total returns consistent with an asset allocation targeted for an investor who is retiring in approximately each portfolio’s designated target year. On the target date, the portfolio will seek to provide a combination of total return and stability of principal.

Stocks are more volatile than bonds, and portfolios with a higher concentration of stocks are more likely to experience greater fluctuations in value than portfolios with a higher concentration in bonds. Foreign stocks and small- and mid-cap stocks may be more volatile than large-cap stocks. Investing in bonds also, entails credit risk and interest rate risk. Generally investors with longer timeframes can consider assuming more risk in their investment portfolio.

As with any portfolio, you could lose money on your investment in a Voya Target Retirement Fund. Although the strategy seeks to optimize risk-adjusted returns given various time horizons, you still may lose money and experience volatility. Forward looking asset class assumptions and market judgment are used to form the asset allocations for the Voya Target Retirement Fund. There is risk that you could achieve better returns in an underlying portfolio or other portfolios representing a single asset class than in the Voya Target Retirement Fund. Important factors to consider when planning for retirement include your expected expenses, sources of income, and available assets. Before investing in the Voya Target Retirement Fund, weigh your objectives, time horizon, and risk tolerance. The Voya Target Retirement Fund invests in many underlying portfolios which are exposed to the risks of different areas of the market. The higher a portfolio's allocation to stocks, the greater the risk. Diversification cannot assure a profit or protect against loss in a declining market.

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