Voya High Yield Portfolio - Class I

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Voya High Yield Portfolio

This Portfolio seeks to provide investors with a high level of current income and total return.

Daily Prices

as of December 12, 2018

Net Asset Value (NAV)$9.34
% Change+0.21
$ Change+0.02
YTD Return-0.52%

Product Facts

Ticker SymbolIPIMX
CUSIP92914E309
Inception DateApril 29, 2005
Dividends PaidMonthly

Investment Objective

The Portfolio seeks to provide investors with a high level of current income and total return.

Management Team

View Portfolio 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.
Rick Cumberledge

Rick C Cumberledge, CFA

Portfolio Manager

Managed Portfolio since 2014

More Info
Rick Cumberledge is head of high yield and a senior high yield portfolio manager at Voya Investment Management. Prior to joining the firm, Rick spent nearly six years working at Federated Investors as a senior high yield credit analyst. His previous experience includes positions with American Capital Strategies, Bank of America and Allied Capital. Rick has a BA in business administration from Westminster College and an MSc in finance from the George Washington University. He holds the Chartered Financial Analyst® designation.
Randy Parrish

Randy Parrish, CFA

Portfolio Manager

Managed Portfolio since 2014

More Info
Randy Parrish is head of credit and a senior high yield portfolio manager at Voya Investment Management. As head of credit, Randy oversees the high yield, investment grade and emerging market teams. Previously, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team since joining Voya in 2001. Prior to joining the firm, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy received a BBA in business administration from the University of Georgia and holds the Chartered Financial Analyst® designation.

My Representatives

Broker/Dealer Services

1-800-334-3444

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Performance

Average Annual Total Returns %

As of November 30, 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-0.61-0.06+6.02+4.00+11.110.50%0.48%
Net Asset Value+2.16+2.62+7.18+5.11+9.200.50%0.48%
Bloomberg Barclays High Yield Bond 2% Issuer Constrained Composite Index+0.06+0.36+7.09+4.40+12.14
Bloomberg Barclays High Yield Bond 2% Issuer Constrained Composite Index+2.57+3.05+8.15+5.55+9.46

Inception Date - Class I:April 29, 2005

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 November 30, 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.

6.67
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).

6.68
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.

6.11
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.

6.11

Returns Based Statistics

As of November 30, 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.

4.014.427.79
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.

0.830.880.96
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.

96.5196.8892.81
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.

-0.010.07-0.45
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.

1.260.781.35
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.

1.101.002.12
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.

-0.97-0.40-0.49

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 12/31/2008 through 11/30/2018

Ending Value: $28,680.00

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 November 30, 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.

$491.7
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

352
Duration years2.58
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.

5.66
Total

Top Holdings

% of Total Investments as of November 30, 2018

HCA INC 7.5 02/20220.78
SPRINT NEXTEL CORPORATION 6 11/20220.71
FIRST DATA CORP 7 12/20230.71
SPRINT CORP 7.125 06/20240.69
VIZIENT INC 10.375 03/20240.63
DISH DBS CORP 5.875 11/20240.61
1011778 BC / NEW RED FIN 5 10/20250.57
SFR GROUP SA 6.25 05/20240.55
COMMSCOPE TECHNOLOGIES FINANCE LLC 6 06/20250.54
CENTURY COMMUNITIES INC 5.875 07/20250.54
Total#,###.2

Portfolio Composition

as of November 30, 2018

Aerospace and Defense1.04
Automotive1.02
Building Materials2.53
Cable and Satellite6.77
Cash2.26
Chemicals4.42
Construction Machinery1.21
Consumer Cyclical Services0.40
Consumer Products1.38
Diversified Manufacturing1.37
Environmental0.37
Financials4.54
Food and Beverage2.03
Gaming4.42
Healthcare7.93
Home Construction2.87
Independent Energy8.41
Leisure2.55
Lodging0.41
Media and Entertainment4.76
Metals and Mining3.65
Midstream3.40
Oil Field Services1.85
Other Industry0.68
Packaging2.68
Paper1.17
Pharmaceuticals3.16
Refining0.05
Restaurants1.21
Retailers3.14
Supermarkets0.60
Technology6.92
Transportation0.87
Unassigned0.17
Utility1.72
Wireless4.72
Wirelines3.31
Total#,###.2

Top Issuers

as of November 30, 2018

BAUSCH HEALTH COMPANIES INC1.85
HCA-THE HEALTHCARE CO1.72
SPRINT CORP1.54
CCO HOLDINGS LLC/CCO HOLDINGS 1.50
CSC HOLDINGS LLC1.38
TENET HLTHCR CORP1.08
MGM RESORTS INTERNATIONAL0.99
ALLY FINANCIAL INC0.96
FIRST DATA CORP0.91
DISH DBS CORP0.90
Total#,###.2

Credit Quality

% of Total Investments as of November 30, 2014

AAA2.70
BBB0.48
BB24.85
B47.72
CCC23.39
Not Rated0.85
Total#,###.2

Top Country Weightings

% of Total Investments as of November 30, 2018

United States87.95
Canada4.50
Luxembourg1.82
United Kingdom1.32
Ireland0.99
France0.93
Netherlands0.87
Italy0.52
Belgium0.33
Israel0.29
Total#,###.2

Maturity Details

% of Total Investments as of November 30, 2018

Cash2.26
<1 Year2.63
1-3 Years14.06
3-5 Years21.47
5-7 Years38.44
7-10 Years17.46
10-20 Years2.17
>20 Years1.52
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 Dividend11/30/2018$0.046900
Income Dividend10/31/2018$0.049600
Income Dividend09/30/2018$0.047800
Income Dividend08/31/2018$0.049400
Income Dividend07/31/2018$0.049100
Income Dividend06/30/2018$0.047600
Income Dividend05/31/2018$0.049500
Income Dividend04/30/2018$0.047900
Income Dividend03/31/2018$0.050000
Income Dividend02/28/2018$0.049700
Income Dividend01/31/2018$0.055000
Income Dividend12/31/2017$0.055000
Income Dividend11/30/2017$0.053700
Totals: $0.651200

Ratings

Morningstar™ Ratings

As of November 30, 2018

Overall3 Year5 Year10 Year
603 Funds603 Funds505 Funds332 Funds

Category: Fund High Yield Bond

Disclosures