VY® CBRE Real Estate Portfolio
The Portfolio seeks total return consisting of long-term capital appreciation and current income.
Product Facts
| Ticker Symbol | IVRIX |
| CUSIP | 92914G569 |
| Inception Date | May 19, 2003 |
| Dividends Paid | Annually |
About this Product
- Invests primarily in U.S. REITs, companies that own and manage commercial real estate
- Real estate investing has an historically compelling dividend yield, growth potential and low correlations with other asset classes
- Sub-Advised by CBRE Investment Management Listed Real Assets (CBRE), one of the world’s largest real estate companies, with a presence around the globe
Investment Objective
The Portfolio seeks total return consisting of long-term capital appreciation and current income.
Performance
Average Annual Total Returns %
As of November 30, 2023
As of September 30, 2023
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +2.86 | -2.74 | +5.98 | +4.85 | +6.65 | 1.01% | 0.68% |
| With Sales Charge | +2.86 | -2.74 | +5.98 | +4.85 | +6.65 | ||
| Net Asset Value | -3.33 | +0.55 | +6.37 | +3.65 | +5.94 | 1.01% | 0.68% |
| With Sales Charge | -3.33 | +0.55 | +6.37 | +3.65 | +5.94 | ||
| MSCI U.S. REIT Index GR USD | +3.52 | -1.80 | +4.93 | +3.61 | +6.62 | — | — |
| MSCI U.S. REIT Index GR USD | -1.95 | +3.18 | +5.70 | +2.82 | +5.94 | — | — |
Inception Date - Class I:May 19, 2003
Current Maximum Sales Charge: 0.00%
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 MSCI US REIT Index is a free float-adjusted market capitalization weighted index that is comprised of equity REITS that are included in the MSCI US Investable Market 2500 Index (with the exception of specialty equity REITS) that do not generate a majority of their revenue and income from real estate rental and leasing obligations). The index represents approximately 85% of the US REIT universe. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.
Past performance does not guarantee future results.
Yields
As of October 31, 2023
| 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. | 3.02 |
| 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). | 3.32 |
| 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. | 3.42 |
| 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. | 3.42 |
Returns-Based Characteristics
As of October 31, 2023
| 3 Year | 5 Year | 10 Year | |
|---|---|---|---|
| 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. | 1.90 | 2.13 | 1.20 |
| 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. | 1.03 | 1.01 | 1.00 |
| 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. | 0.92 | 1.13 | 0.73 |
| 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. | 0.99 | 0.99 | 0.99 |
| 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. | 0.17 | 0.07 | 0.21 |
| 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. | 21.35 | 21.32 | 17.69 |
Growth of a $10,000 Investment
For the period 11/30/2013 through 10/31/2023
Ending Value: $16,242.00
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, 2023
| 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. | $171.9 |
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 45 |
| Price/FFO Price/FFO: Price to Funds From Operations (P/FFO), the REIT equivalent of a security’s Price to Earnings ratio (P/E), is used to measure operating performance which encompasses a REIT’s net income, excluding gains or losses from sales of property, and adding back real estate depreciation. Source: provided by Sub-Adviser | 15.00 |
| Weighted Average Market Cap millions Weighted Average Market Cap: Source: provided by Sub-Adviser | $32,226.0 |
| Total |
Top Holdings
% of Total Investments as of October 31, 2023
| Public Storage, Inc. - 74460D109 | 8.51 |
| Equinix, Inc. - 29444U700 | 8.24 |
| ProLogis, Inc. - 74340W103 | 7.29 |
| Simon Property Group, Inc. - 828806109 | 5.08 |
| Welltower, Inc. - 95040Q104 | 4.85 |
| Invitation Homes, Inc. - 46187W107 | 4.20 |
| Rexford Industrial Realty, Inc. - 76169C100 | 3.92 |
| Alexandria Real Estate Equities, Inc. - 015271109 | 3.47 |
| Camden Property Trust - 133131102 | 3.08 |
| CubeSmart - 229663109 | 3.00 |
| Total | #,###.2 |
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
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 Dividend | 07/13/2023 | 07/14/2023 | 07/12/2023 | $0.835100 |
| Long-Term Capital Gain | 07/13/2023 | 07/14/2023 | 07/12/2023 | $1.765700 |
| Totals: $2.600800 | ||||
Income Dividend: Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.
Short-Term Capital Gain: The profit realized from the sale of securities held for less than one year.
Long-Term Capital Gain: Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.
Investment Team
Portfolio Management Team
Voya Investments, LLC
Investment Adviser
CBRE Investment Management Listed Real Assets, LLC
Investment Sub-Adviser
Jonathan D Miniman, CFA
Joseph P Smith, CFA
Kenneth S Weinberg, CFA
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Risks of the REIT's are similar to those associated with direct ownership of Real Estate, such as changes in real estate values and property taxes, interest rates, cash flow of underlying real estate assets, supply and demand, and the management skill and credit worthiness of the issuer. Concentration of investments in one or more real estate industries, may subject the Portfolio to greater volatility than a portfolio which is less concentrated. Other risks of the Portfolio include but are not limited to: Initial Public Offerings Risks; Convertible Securities Risks; Manager Risks; Market Trends Risks; Non-Diversification Risks; Other Investment Companies Risks; Price Volatility Risks; Rule 144A Securities Risks; Inability to Sell Securities Risks; and Securities Lending Risks. Investors should consult the Portfolio’s Prospectus and Statement of Additional Information for a more detailed discussion of the Portfolio’s risks.
An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.