Semi-Annual
Financial Statements and Other Information
November
30, 2024
Classes
A, I, R and R6
| ■ |
Voya Target
In-Retirement Fund |
■ |
Voya Target
Retirement 2045 Fund |
| ■ |
Voya Target Retirement 2025 Fund |
■ |
Voya Target Retirement 2050 Fund |
| ■ |
Voya Target Retirement 2030 Fund |
■ |
Voya Target Retirement 2055 Fund |
| ■ |
Voya Target Retirement 2035 Fund |
■ |
Voya Target Retirement 2060 Fund |
| ■ |
Voya Target Retirement 2040 Fund |
■ |
Voya Target Retirement 2065 Fund |
| This
report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to
prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment
objectives, risks, charges, expenses and other information. This information should be read carefully. |
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PROXY
VOTING INFORMATION
A
description of the policies and procedures that the Funds use to determine how to vote proxies related to portfolio securities
is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Funds’
website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC’s”)
website at www.sec.gov. Information regarding how the Funds voted proxies related to portfolio securities during the most recent
12-month period ended June 30 is available without charge on the Funds’ website at https://individuals.voya.com and on the
SEC’s website at www.sec.gov.
QUARTERLY
PORTFOLIO HOLDINGS
The
Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on
Form NPORT-P. The Funds’ Forms NPORT-P are available on the SEC’s website at www.sec.gov. Each Fund’s complete
schedule of portfolio holdings is available at: https://individuals.voya.com/product/mutual-fund/prospectuses-reports and without
charge upon request from the Fund by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
In-Retirement | | |
Retirement 2025 | | |
Retirement 2030 | | |
Retirement 2035 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Investments
in affiliated underlying funds at fair value* | |
$ | 42,963,577 | | |
$ | 51,394,000 | | |
$ | 45,645,142 | | |
$ | 55,767,505 | |
| Investments
in unaffiliated underlying funds at fair value** | |
| 69,002,990 | | |
| 103,350,244 | | |
| 117,065,108 | | |
| 167,533,020 | |
| Cash | |
| 70,704 | | |
| 82,576 | | |
| 92,322 | | |
| 130,628 | |
| Receivables: | |
| | | |
| | | |
| | | |
| | |
| Fund shares sold | |
| 26,426 | | |
| 107,496 | | |
| 84,983 | | |
| 159,018 | |
| Interest | |
| 181 | | |
| 246 | | |
| 340 | | |
| 461 | |
| Reimbursement
due from Investment Adviser | |
| 8,233 | | |
| 11,490 | | |
| 14,933 | | |
| 17,544 | |
| Other
assets | |
| 675 | | |
| 825 | | |
| 926 | | |
| 958 | |
| Total
assets | |
| 112,072,786 | | |
| 154,946,877 | | |
| 162,903,754 | | |
| 223,609,134 | |
| | |
| | | |
| | | |
| | | |
| | |
| LIABILITIES: | |
| | | |
| | | |
| | | |
| | |
| Payable for investments
in affiliated underlying funds purchased | |
| 20,088 | | |
| 34,715 | | |
| 45,959 | | |
| 79,690 | |
| Payable
for investments in unaffiliated underlying funds purchased | |
| 5,824 | | |
| 14,874 | | |
| 33,339 | | |
| 76,537 | |
| Payable for fund shares redeemed | |
| 544 | | |
| 57,917 | | |
| 5,604 | | |
| 2,819 | |
| Payable
for unified fees | |
| 16,715 | | |
| 23,055 | | |
| 23,663 | | |
| 32,813 | |
| Payable
for distribution and shareholder service fees | |
| 13,414 | | |
| 16,839 | | |
| 11,137 | | |
| 20,592 | |
| Payable
to trustees under the deferred compensation plan (Note
6) | |
| 675 | | |
| 825 | | |
| 926 | | |
| 958 | |
| Other
accrued expenses and liabilities | |
| 16,429 | | |
| 5,923 | | |
| 1,943 | | |
| 10,320 | |
| Total
liabilities | |
| 73,689 | | |
| 154,148 | | |
| 122,571 | | |
| 223,729 | |
| NET
ASSETS | |
$ | 111,999,097 | | |
$ | 154,792,729 | | |
$ | 162,781,183 | | |
$ | 223,385,405 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET
ASSETS WERE COMPRISED OF: | |
| | | |
| | | |
| | | |
| | |
| Paid-in
capital | |
$ | 111,839,893 | | |
$ | 148,512,084 | | |
$ | 150,031,219 | | |
$ | 203,798,869 | |
| Total
distributable earnings | |
| 159,204 | | |
| 6,280,645 | | |
| 12,749,964 | | |
| 19,586,536 | |
| NET
ASSETS | |
$ | 111,999,097 | | |
$ | 154,792,729 | | |
$ | 162,781,183 | | |
$ | 223,385,405 | |
| | |
| | | |
| | | |
| | | |
| | |
| * Cost
of investments in affiliated underlying funds | |
$ | 43,496,569 | | |
$ | 52,168,678 | | |
$ | 45,694,295 | | |
$ | 56,575,817 | |
| ** Cost
of investments in unaffiliated underlying funds | |
$ | 66,303,804 | | |
$ | 97,055,659 | | |
$ | 102,056,754 | | |
$ | 148,530,269 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited) (continued)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
In-Retirement | | |
Retirement
2025 | | |
Retirement
2030 | | |
Retirement
2035 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| Class
A | |
| | | |
| | | |
| | | |
| | |
| Net
assets | |
$ | 61,165,878 | | |
$ | 71,730,073 | | |
$ | 42,923,579 | | |
$ | 87,453,942 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 5,578,607 | | |
| 5,576,479 | | |
| 3,118,486 | | |
| 6,200,050 | |
| Net asset value and redemption
price per share† | |
$ | 10.96 | | |
$ | 12.86 | | |
$ | 13.76 | | |
$ | 14.11 | |
| Maximum offering
price per share (5.75%)(1) | |
$ | 11.63 | | |
$ | 13.64 | | |
$ | 14.60 | | |
$ | 14.97 | |
| Class
I | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 5,415,348 | | |
$ | 6,721,138 | | |
$ | 14,899,261 | | |
$ | 15,030,187 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 492,316 | | |
| 518,273 | | |
| 1,073,911 | | |
| 1,053,641 | |
| Net asset value and redemption
price per share | |
$ | 11.00 | | |
$ | 12.97 | | |
$ | 13.87 | | |
$ | 14.26 | |
| Class
R | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 1,412,150 | | |
$ | 4,563,532 | | |
$ | 5,372,906 | | |
$ | 6,150,153 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 130,366 | | |
| 358,036 | | |
| 395,863 | | |
| 440,611 | |
| Net asset value and redemption
price per share | |
$ | 10.83 | | |
$ | 12.75 | | |
$ | 13.57 | | |
$ | 13.96 | |
| Class
R6 | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 44,005,721 | | |
$ | 71,777,986 | | |
$ | 99,585,437 | | |
$ | 114,751,123 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 4,000,845 | | |
| 5,539,440 | | |
| 7,182,545 | | |
| 8,065,433 | |
| Net asset value and redemption
price per share | |
$ | 11.00 | | |
$ | 12.96 | | |
$ | 13.86 | | |
$ | 14.23 | |
| (1) | Maximum
offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or
more, the offering price is reduced. |
| † | Redemption
price per share may be reduced for any applicable contingent deferred sales charges. |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
Retirement
2040 | | |
Retirement
2045 | | |
Retirement
2050 | | |
Retirement
2055 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Investments
in affiliated underlying funds at fair value* | |
$ | 26,260,734 | | |
$ | 33,047,011 | | |
$ | 16,717,502 | | |
$ | 21,191,544 | |
| Investments
in unaffiliated underlying funds at fair value** | |
| 92,958,018 | | |
| 161,332,365 | | |
| 81,739,040 | | |
| 111,925,549 | |
| Cash | |
| 70,401 | | |
| 110,809 | | |
| 55,259 | | |
| 79,394 | |
| Receivables: | |
| | | |
| | | |
| | | |
| | |
| Fund shares sold | |
| 111,096 | | |
| 78,530 | | |
| 115,626 | | |
| 151,597 | |
| Interest | |
| 197 | | |
| 303 | | |
| 111 | | |
| 184 | |
| Reimbursement
due from Investment Adviser | |
| 11,836 | | |
| 14,097 | | |
| 5,523 | | |
| 9,879 | |
| Other
assets | |
| 720 | | |
| 776 | | |
| 556 | | |
| 473 | |
| Total
assets | |
| 119,413,002 | | |
| 194,583,891 | | |
| 98,633,617 | | |
| 133,358,620 | |
| | |
| | | |
| | | |
| | | |
| | |
| LIABILITIES: | |
| | | |
| | | |
| | | |
| | |
| Payable
for investments in affiliated underlying funds purchased | |
| 34,205 | | |
| 26,385 | | |
| 38,736 | | |
| 50,538 | |
| Payable
for investments in unaffiliated underlying funds purchased | |
| 43,555 | | |
| 41,244 | | |
| 68,881 | | |
| 93,872 | |
| Payable for fund shares redeemed | |
| 33,319 | | |
| 10,917 | | |
| 8,000 | | |
| 7,179 | |
| Payable
for unified fees | |
| 17,213 | | |
| 28,546 | | |
| 14,197 | | |
| 19,524 | |
| Payable for distribution
and shareholder service fees | |
| 4,628 | | |
| 15,829 | | |
| 3,603 | | |
| 11,184 | |
| Payable
to trustees under the deferred compensation
plan (Note 6) | |
| 720 | | |
| 776 | | |
| 556 | | |
| 473 | |
| Other
accrued expenses and liabilities | |
| 12,318 | | |
| 11,727 | | |
| 5,094 | | |
| 20,884 | |
| Total
liabilities | |
| 145,958 | | |
| 135,424 | | |
| 139,067 | | |
| 203,654 | |
| NET
ASSETS | |
$ | 119,267,044 | | |
$ | 194,448,467 | | |
$ | 98,494,550 | | |
$ | 133,154,966 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET
ASSETS WERE COMPRISED OF: | |
| | | |
| | | |
| | | |
| | |
| Paid-in
capital | |
$ | 102,581,627 | | |
$ | 171,454,233 | | |
$ | 82,581,509 | | |
$ | 116,262,338 | |
| Total
distributable earnings | |
| 16,685,417 | | |
| 22,994,234 | | |
| 15,913,041 | | |
| 16,892,628 | |
| NET
ASSETS | |
$ | 119,267,044 | | |
$ | 194,448,467 | | |
$ | 98,494,550 | | |
$ | 133,154,966 | |
| | |
| | | |
| | | |
| | | |
| | |
| * Cost of investments in affiliated
underlying funds | |
$ | 25,558,797 | | |
$ | 33,814,368 | | |
$ | 16,299,303 | | |
$ | 21,676,396 | |
| ** Cost
of investments in unaffiliated underlying funds | |
$ | 74,065,138 | | |
$ | 139,675,684 | | |
$ | 63,992,650 | | |
$ | 96,662,495 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited) (continued)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
Retirement
2040 | | |
Retirement
2045 | | |
Retirement
2050 | | |
Retirement
2055 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| Class
A | |
| | | |
| | | |
| | | |
| | |
| Net
assets | |
$ | 9,352,218 | | |
$ | 68,101,610 | | |
$ | 7,016,109 | | |
$ | 46,874,975 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 607,987 | | |
| 4,399,455 | | |
| 449,201 | | |
| 3,068,794 | |
| Net
asset value and redemption price per share† | |
$ | 15.38 | | |
$ | 15.48 | | |
$ | 15.62 | | |
$ | 15.27 | |
| Maximum offering
price per share (5.75%)(1) | |
$ | 16.32 | | |
$ | 16.42 | | |
$ | 16.57 | | |
$ | 16.20 | |
| Class
I | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 12,573,367 | | |
$ | 13,107,269 | | |
$ | 10,563,791 | | |
$ | 11,883,195 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 810,962 | | |
| 839,322 | | |
| 671,553 | | |
| 770,710 | |
| Net
asset value and redemption price per share | |
$ | 15.50 | | |
$ | 15.62 | | |
$ | 15.73 | | |
$ | 15.42 | |
| Class
R | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 7,076,068 | | |
$ | 4,193,274 | | |
$ | 5,375,559 | | |
$ | 3,665,869 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 466,627 | | |
| 274,179 | | |
| 348,863 | | |
| 244,386 | |
| Net
asset value and redemption price per share | |
$ | 15.16 | | |
$ | 15.29 | | |
$ | 15.41 | | |
$ | 15.00 | |
| Class
R6 | |
| | | |
| | | |
| | | |
| | |
| Net assets | |
$ | 90,265,391 | | |
$ | 109,046,314 | | |
$ | 75,539,091 | | |
$ | 70,730,927 | |
| Shares authorized | |
| unlimited | | |
| unlimited | | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 5,821,825 | | |
| 6,981,037 | | |
| 4,801,253 | | |
| 4,586,920 | |
| Net
asset value and redemption price per share | |
$ | 15.50 | | |
$ | 15.62 | | |
$ | 15.73 | | |
$ | 15.42 | |
| (1) | Maximum
offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or
more, the offering price is reduced. |
| † | Redemption
price per share may be reduced for any applicable contingent deferred sales charges. |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited)
| | |
Voya
Target | | |
Voya
Target | |
| | |
Retirement
2060 | | |
Retirement
2065 | |
| | |
Fund | | |
Fund | |
| ASSETS: | |
| | | |
| | |
| Investments
in affiliated underlying funds at fair value* | |
$ | 8,979,268 | | |
$ | 3,453,605 | |
| Investments
in unaffiliated underlying funds at fair value** | |
| 46,979,368 | | |
| 18,501,956 | |
| Cash | |
| 29,601 | | |
| 10,637 | |
| Receivables: | |
| | | |
| | |
| Fund shares sold | |
| 131,861 | | |
| 71,788 | |
| Interest | |
| 67 | | |
| 27 | |
| Reimbursement
due from Investment Adviser | |
| 2,879 | | |
| 2,350 | |
| Other assets | |
| 279 | | |
| 68 | |
| Total assets | |
| 56,123,323 | | |
| 22,040,431 | |
| | |
| | | |
| | |
| LIABILITIES: | |
| | | |
| | |
| Payable
for investments in affiliated underlying funds purchased | |
| 44,538 | | |
| 23,655 | |
| Payable
for investments in unaffiliated underlying funds purchased | |
| 82,726 | | |
| 43,934 | |
| Payable for fund shares redeemed | |
| 4,590 | | |
| 4,196 | |
| Payable
for unified fees | |
| 8,048 | | |
| 3,069 | |
| Payable
for distribution and shareholder service fees | |
| 2,092 | | |
| 910 | |
| Payable
to trustees under the deferred compensation plan (Note 6) | |
| 279 | | |
| 68 | |
| Other accrued
expenses and liabilities | |
| 9,953 | | |
| 334 | |
| Total liabilities | |
| 152,226 | | |
| 76,166 | |
| NET
ASSETS | |
$ | 55,971,097 | | |
$ | 21,964,265 | |
| | |
| | | |
| | |
| NET
ASSETS WERE COMPRISED OF: | |
| | | |
| | |
| Paid-in
capital | |
$ | 46,874,583 | | |
$ | 18,692,180 | |
| Total distributable
earnings | |
| 9,096,514 | | |
| 3,272,085 | |
| NET
ASSETS | |
$ | 55,971,097 | | |
$ | 21,964,265 | |
| | |
| | | |
| | |
| * Cost of
investments in affiliated underlying funds | |
$ | 8,805,481 | | |
$ | 3,448,390 | |
| ** Cost
of investments in unaffiliated underlying funds | |
$ | 37,607,798 | | |
$ | 15,472,078 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF ASSETS AND LIABILITIES as of November 30, 2024 (Unaudited) (continued)
| | |
Voya
Target | | |
Voya
Target | |
| | |
Retirement
2060 | | |
Retirement
2065 | |
| | |
Fund | | |
Fund | |
| Class
A | |
| | | |
| | |
| Net
assets | |
$ | 4,970,232 | | |
$ | 4,214,137 | |
| Shares authorized | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 349,693 | | |
| 332,774 | |
| Net asset value and redemption
price per share† | |
$ | 14.21 | | |
$ | 12.66 | |
| Maximum offering
price per share (5.75%)(1) | |
$ | 15.08 | | |
$ | 13.43 | |
| Class
I | |
| | | |
| | |
| Net assets | |
$ | 2,751,534 | | |
$ | 419,009 | |
| Shares authorized | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 192,315 | | |
| 32,982 | |
| Net asset value and redemption
price per share | |
$ | 14.31 | | |
$ | 12.70 | |
| Class
R | |
| | | |
| | |
| Net assets | |
$ | 2,713,712 | | |
$ | 167,580 | |
| Shares authorized | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 193,288 | | |
| 13,340 | |
| Net asset value and redemption
price per share | |
$ | 14.04 | | |
$ | 12.56 | |
| Class
R6 | |
| | | |
| | |
| Net assets | |
$ | 45,535,619 | | |
$ | 17,163,539 | |
| Shares authorized | |
| unlimited | | |
| unlimited | |
| Par value | |
$ | 0.001 | | |
$ | 0.001 | |
| Shares outstanding | |
| 3,178,030 | | |
| 1,350,920 | |
| Net asset value and redemption
price per share | |
$ | 14.33 | | |
$ | 12.71 | |
| (1) | Maximum
offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or
more, the offering price is reduced. |
| † | Redemption
price per share may be reduced for any applicable contingent deferred sales charges. |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF OPERATIONS FOR THE SIX MONTHS ENDED November 30, 2024 (Unaudited)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
In-Retirement | | |
Retirement
2025 | | |
Retirement
2030 | | |
Retirement
2035 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| INVESTMENT
INCOME: | |
| | | |
| | | |
| | | |
| | |
| Dividends
from affiliated underlying funds | |
$ | 553,815 | | |
$ | 696,409 | | |
$ | 632,990 | | |
$ | 625,788 | |
| Dividends
from unaffiliated underlying funds | |
| 491,879 | | |
| 643,078 | | |
| 735,567 | | |
| 696,618 | |
| Interest | |
| 1,795 | | |
| 2,620 | | |
| 3,584 | | |
| 4,516 | |
| Other | |
| 135 | | |
| 223 | | |
| 322 | | |
| 366 | |
| Total
investment income | |
| 1,047,624 | | |
| 1,342,330 | | |
| 1,372,463 | | |
| 1,327,288 | |
| EXPENSES: | |
| | | |
| | | |
| | | |
| | |
| Unified
fees | |
| 63,453 | | |
| 95,966 | | |
| 120,973 | | |
| 149,337 | |
| Distribution
and shareholder service fees: | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| 26,199 | | |
| 33,435 | | |
| 25,970 | | |
| 44,782 | |
| Class R | |
| 3,302 | | |
| 11,217 | | |
| 13,754 | | |
| 14,618 | |
| Transfer
agent fees: | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| 14,258 | | |
| 3,819 | | |
| 4,166 | | |
| 10,204 | |
| Class I | |
| 1,285 | | |
| 1,459 | | |
| 2,863 | | |
| 778 | |
| Class R | |
| 933 | | |
| 662 | | |
| 1,116 | | |
| 1,716 | |
| Trustee
fees and expenses | |
| 4,072 | | |
| 5,612 | | |
| 9,895 | | |
| 10,786 | |
| Total expenses | |
| 113,502 | | |
| 152,170 | | |
| 178,737 | | |
| 232,222 | |
| Waived
and reimbursed fees | |
| (41,182 | ) | |
| (57,744 | ) | |
| (70,082 | ) | |
| (85,229 | ) |
| Net
expenses | |
| 72,320 | | |
| 94,426 | | |
| 108,655 | | |
| 146,993 | |
| Net
investment income | |
| 975,304 | | |
| 1,247,904 | | |
| 1,263,808 | | |
| 1,180,295 | |
| REALIZED
AND UNREALIZED GAIN (LOSS): | |
| | | |
| | | |
| | | |
| | |
| Net realized
gain (loss) on: | |
| | | |
| | | |
| | | |
| | |
| Sale of
affiliated underlying funds | |
| 522,341 | | |
| 895,971 | | |
| 740,502 | | |
| 1,435,751 | |
| Sale
of unaffiliated underlying funds | |
| 1,926,783 | | |
| 4,373,951 | | |
| 4,474,838 | | |
| 6,363,344 | |
| Net
realized gain | |
| 2,449,124 | | |
| 5,269,922 | | |
| 5,215,340 | | |
| 7,799,095 | |
| Net change in unrealized
appreciation (depreciation) on: | |
| | | |
| | | |
| | | |
| | |
| Affiliated
underlying funds | |
| (578,704 | ) | |
| (807,856 | ) | |
| (297,346 | ) | |
| (1,263,143 | ) |
| Unaffiliated
underlying funds | |
| 758,566 | | |
| 905,178 | | |
| 4,190,466 | | |
| 5,617,166 | |
| Net
change in unrealized appreciation (depreciation) | |
| 179,862 | | |
| 97,322 | | |
| 3,893,120 | | |
| 4,354,023 | |
| Net
realized and unrealized gain | |
| 2,628,986 | | |
| 5,367,244 | | |
| 9,108,460 | | |
| 12,153,118 | |
| Increase
in net assets resulting from operations | |
$ | 3,604,290 | | |
$ | 6,615,148 | | |
$ | 10,372,268 | | |
$ | 13,333,413 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF OPERATIONS FOR THE SIX MONTHS ENDED November 30, 2024 (Unaudited)
| | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | | |
Voya
Target | |
| | |
Retirement
2040 | | |
Retirement
2045 | | |
Retirement
2050 | | |
Retirement
2055 | |
| | |
Fund | | |
Fund | | |
Fund | | |
Fund | |
| INVESTMENT
INCOME: | |
| | | |
| | | |
| | | |
| | |
| Dividends
from affiliated underlying funds | |
$ | 306,127 | | |
$ | 217,837 | | |
$ | 129,936 | | |
$ | 117,387 | |
| Dividends
from unaffiliated underlying funds | |
| 427,318 | | |
| 458,868 | | |
| 254,361 | | |
| 227,005 | |
| Interest | |
| 2,471 | | |
| 3,040 | | |
| 1,536 | | |
| 1,811 | |
| Other | |
| 284 | | |
| 316 | | |
| 228 | | |
| 211 | |
| Total investment
income | |
| 736,200 | | |
| 680,061 | | |
| 386,061 | | |
| 346,414 | |
| EXPENSES: | |
| | | |
| | | |
| | | |
| | |
| Unified
fees | |
| 100,624 | | |
| 129,520 | | |
| 81,515 | | |
| 87,731 | |
| Distribution
and shareholder service fees: | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| 10,018 | | |
| 32,382 | | |
| 7,230 | | |
| 23,199 | |
| Class R | |
| 16,620 | | |
| 9,766 | | |
| 13,416 | | |
| 8,389 | |
| Transfer
agent fees: | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| 3,051 | | |
| 5,925 | | |
| 1,440 | | |
| 15,789 | |
| Class I | |
| 2,364 | | |
| 3,300 | | |
| 3,462 | | |
| 3,220 | |
| Class R | |
| 2,536 | | |
| 930 | | |
| 1,339 | | |
| 2,948 | |
| Trustee
fees and expenses | |
| 8,646 | | |
| 9,377 | | |
| 7,043 | | |
| 6,586 | |
| Total expenses | |
| 143,859 | | |
| 191,200 | | |
| 115,445 | | |
| 147,862 | |
| Waived
and reimbursed fees | |
| (49,390 | ) | |
| (60,748 | ) | |
| (36,915 | ) | |
| (42,491 | ) |
| Net expenses | |
| 94,469 | | |
| 130,452 | | |
| 78,530 | | |
| 105,371 | |
| Net investment
income | |
| 641,731 | | |
| 549,609 | | |
| 307,531 | | |
| 241,043 | |
| REALIZED
AND UNREALIZED GAIN (LOSS): | |
| | | |
| | | |
| | | |
| | |
| Net realized
gain (loss) on: | |
| | | |
| | | |
| | | |
| | |
| Sale of
affiliated underlying funds | |
| 187,349 | | |
| 1,173,549 | | |
| 192,269 | | |
| 788,929 | |
| Sale of
unaffiliated underlying funds | |
| 2,799,002 | | |
| 5,877,436 | | |
| 2,363,178 | | |
| 4,039,592 | |
| Net realized
gain | |
| 2,986,351 | | |
| 7,050,985 | | |
| 2,555,447 | | |
| 4,828,521 | |
| Net change in unrealized
appreciation (depreciation) on: | |
| | | |
| | | |
| | | |
| | |
| Affiliated
underlying funds | |
| 233,482 | | |
| (1,289,555 | ) | |
| 34,292 | | |
| (857,788 | ) |
| Unaffiliated
underlying funds | |
| 6,174,635 | | |
| 6,609,371 | | |
| 5,865,598 | | |
| 4,984,441 | |
| Net
change in unrealized appreciation (depreciation) | |
| 6,408,117 | | |
| 5,319,816 | | |
| 5,899,890 | | |
| 4,126,653 | |
| Net realized
and unrealized gain | |
| 9,394,468 | | |
| 12,370,801 | | |
| 8,455,337 | | |
| 8,955,174 | |
| Increase
in net assets resulting from operations | |
$ | 10,036,199 | | |
$ | 12,920,410 | | |
$ | 8,762,868 | | |
$ | 9,196,217 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF OPERATIONS FOR THE SIX MONTHS ENDED November 30, 2024 (Unaudited)
| |
|
Voya
Target
Retirement
2060
Fund | | |
Voya
Target
Retirement
2065
Fund | |
| INVESTMENT INCOME: |
|
| | | |
| | |
| Dividends from affiliated underlying funds |
|
$ | 60,369 | | |
$ | 16,667 | |
| Dividends from unaffiliated underlying funds |
|
| 132,100 | | |
| 44,466 | |
| Interest |
|
| 871 | | |
| 136 | |
| Other |
|
| 124 | | |
| 41 | |
| Total investment income |
|
| 193,464 | | |
| 61,310 | |
| EXPENSES: |
|
| | | |
| | |
| Unified fees |
|
| 45,418 | | |
| 15,768 | |
| Distribution and shareholder service fees: |
|
| | | |
| | |
| Class A |
|
| 5,842 | | |
| 3,235 | |
| Class R |
|
| 6,200 | | |
| 363 | |
| Transfer agent fees: |
|
| | | |
| | |
| Class A |
|
| 4,796 | | |
| 252 | |
| Class I |
|
| 717 | | |
| 38 | |
| Class R |
|
| 2,543 | | |
| 14 | |
| Trustee fees and expenses |
|
| 4,284 | | |
| 1,320 | |
| Total expenses |
|
| 69,800 | | |
| 20,990 | |
| Waived and reimbursed fees |
|
| (24,148 | ) | |
| (7,963 | ) |
| Net expenses |
|
| 45,652 | | |
| 13,027 | |
| Net investment income |
|
| 147,812 | | |
| 48,283 | |
| |
|
| | | |
| | |
| REALIZED AND UNREALIZED GAIN (LOSS): |
|
| | | |
| | |
| Net realized gain (loss) on: |
|
| | | |
| | |
| Sale of affiliated underlying funds |
|
| 156,435 | | |
| 106,567 | |
| Sale of unaffiliated underlying funds |
|
| 1,330,223 | | |
| 498,603 | |
| Net realized gain |
|
| 1,486,658 | | |
| 605,170 | |
| Net change in unrealized appreciation (depreciation) on: |
|
| | | |
| | |
| Affiliated underlying funds |
|
| (42,368 | ) | |
| (87,147 | ) |
| Unaffiliated underlying funds |
|
| 3,338,045 | | |
| 1,125,095 | |
| Net change in unrealized appreciation (depreciation) |
|
| 3,295,677 | | |
| 1,037,948 | |
| Net realized and unrealized gain |
|
| 4,782,335 | | |
| 1,643,118 | |
| Increase in net assets resulting from operations |
|
$ | 4,930,147 | | |
$ | 1,691,401 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF CHANGES IN NET ASSETS
| | |
Voya
Target
In-Retirement
Fund | | |
Voya
Target
Retirement
2025 Fund | |
| | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | |
| FROM OPERATIONS: | |
| | | |
| | | |
| | | |
| | |
| Net investment income | |
$ | 975,304 | | |
$ | 1,767,602 | | |
$ | 1,247,904 | | |
$ | 2,554,983 | |
| Net realized gain | |
| 2,449,124 | | |
| 666,460 | | |
| 5,269,922 | | |
| 2,079,906 | |
| Net change in unrealized appreciation (depreciation) | |
| 179,862 | | |
| 2,346,015 | | |
| 97,322 | | |
| 6,050,101 | |
| Increase in net assets resulting from operations | |
| 3,604,290 | | |
| 4,780,077 | | |
| 6,615,148 | | |
| 10,684,990 | |
| |
| | | |
| | | |
| | | |
| | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |
| | | |
| | | |
| | | |
| | |
| Total distributions (excluding return of capital): | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| — | | |
| (81,300 | ) | |
| — | | |
| (188,631 | ) |
| Class I | |
| — | | |
| (187,219 | ) | |
| — | | |
| (181,399 | ) |
| Class R | |
| — | | |
| (29,920 | ) | |
| — | | |
| (107,871 | ) |
| Class R6 | |
| — | | |
| (1,363,411 | ) | |
| — | | |
| (1,915,107 | ) |
| Total distributions | |
| — | | |
| (1,661,850 | ) | |
| — | | |
| (2,393,008 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| FROM CAPITAL SHARE TRANSACTIONS: | |
| | | |
| | | |
| | | |
| | |
| Net proceeds from sale of shares | |
| 68,507,575 | | |
| 17,874,244 | | |
| 76,254,749 | | |
| 30,454,688 | |
| Reinvestment of distributions | |
| — | | |
| 1,661,850 | | |
| — | | |
| 2,393,008 | |
| | |
| 68,507,575 | | |
| 19,536,094 | | |
| 76,254,749 | | |
| 32,847,696 | |
| Cost of shares redeemed | |
| (9,011,543 | ) | |
| (24,025,595 | ) | |
| (10,005,268 | ) | |
| (38,950,134 | ) |
| Net increase (decrease) in net assets resulting
from capital share transactions | |
| 59,496,032 | | |
| (4,489,501 | ) | |
| 66,249,481 | | |
| (6,102,438 | ) |
| Net increase (decrease) in net assets | |
| 63,100,322 | | |
| (1,371,274 | ) | |
| 72,864,629 | | |
| 2,189,544 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Beginning of year or period | |
| 48,898,775 | | |
| 50,270,049 | | |
| 81,928,100 | | |
| 79,738,556 | |
| End of year or period | |
$ | 111,999,097 | | |
$ | 48,898,775 | | |
$ | 154,792,729 | | |
$ | 81,928,100 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF CHANGES IN NET ASSETS
| | |
Voya
Target
Retirement
2030 Fund | | |
Voya
Target
Retirement
2035 Fund | |
| | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | |
| FROM OPERATIONS: | |
| | | |
| | | |
| | | |
| | |
| Net investment income | |
$ | 1,263,808 | | |
$ | 3,133,565 | | |
$ | 1,180,295 | | |
$ | 3,173,290 | |
| Net realized gain | |
| 5,215,340 | | |
| 2,021,440 | | |
| 7,799,095 | | |
| 2,454,952 | |
| Net change in unrealized appreciation (depreciation) | |
| 3,893,120 | | |
| 11,184,593 | | |
| 4,354,023 | | |
| 14,551,924 | |
| Increase in net assets resulting from operations | |
| 10,372,268 | | |
| 16,339,598 | | |
| 13,333,413 | | |
| 20,180,166 | |
| |
| | | |
| | | |
| | | |
| | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |
| | | |
| | | |
| | | |
| | |
| Total distributions (excluding return of capital): | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| — | | |
| (240,507 | ) | |
| — | | |
| (215,980 | ) |
| Class I | |
| — | | |
| (289,362 | ) | |
| — | | |
| (293,559 | ) |
| Class R | |
| — | | |
| (126,864 | ) | |
| — | | |
| (95,995 | ) |
| Class R6 | |
| — | | |
| (2,260,165 | ) | |
| — | | |
| (2,312,698 | ) |
| Total distributions | |
| — | | |
| (2,916,898 | ) | |
| — | | |
| (2,918,232 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| FROM CAPITAL SHARE TRANSACTIONS: | |
| | | |
| | | |
| | | |
| | |
| Net proceeds from sale of shares | |
| 46,043,449 | | |
| 39,778,971 | | |
| 92,909,199 | | |
| 52,169,859 | |
| Reinvestment of distributions | |
| — | | |
| 2,916,898 | | |
| — | | |
| 2,918,232 | |
| | |
| 46,043,449 | | |
| 42,695,869 | | |
| 92,909,199 | | |
| 55,088,091 | |
| Cost of shares redeemed | |
| (12,906,604 | ) | |
| (37,662,319 | ) | |
| (16,559,338 | ) | |
| (37,273,693 | ) |
| Net increase in net assets resulting from capital share
transactions | |
| 33,136,845 | | |
| 5,033,550 | | |
| 76,349,861 | | |
| 17,814,398 | |
| Net increase in net assets | |
| 43,509,113 | | |
| 18,456,250 | | |
| 89,683,274 | | |
| 35,076,332 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Beginning of year or period | |
| 119,272,070 | | |
| 100,815,820 | | |
| 133,702,131 | | |
| 98,625,799 | |
| End of year or period | |
$ | 162,781,183 | | |
$ | 119,272,070 | | |
$ | 223,385,405 | | |
$ | 133,702,131 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF CHANGES IN NET ASSETS
| | |
Voya
Target
Retirement
2040 Fund | | |
Voya
Target
Retirement
2045 Fund | |
| | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | |
| FROM OPERATIONS: | |
| | | |
| | | |
| | | |
| | |
| Net investment income | |
$ | 641,731 | | |
$ | 2,213,647 | | |
$ | 549,609 | | |
$ | 2,331,088 | |
| Net realized gain | |
| 2,986,351 | | |
| 1,555,428 | | |
| 7,050,985 | | |
| 2,214,056 | |
| Net change in unrealized appreciation (depreciation) | |
| 6,408,117 | | |
| 13,542,789 | | |
| 5,319,816 | | |
| 15,779,569 | |
| Increase in net assets resulting from operations | |
| 10,036,199 | | |
| 17,311,864 | | |
| 12,920,410 | | |
| 20,324,713 | |
| |
| | | |
| | | |
| | | |
| | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |
| | | |
| | | |
| | | |
| | |
| Total distributions (excluding return of capital): | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| — | | |
| (131,043 | ) | |
| — | | |
| (116,031 | ) |
| Class I | |
| — | | |
| (222,666 | ) | |
| — | | |
| (228,547 | ) |
| Class R | |
| — | | |
| (108,804 | ) | |
| — | | |
| (60,010 | ) |
| Class R6 | |
| — | | |
| (1,603,592 | ) | |
| — | | |
| (1,799,341 | ) |
| Total distributions | |
| — | | |
| (2,066,105 | ) | |
| — | | |
| (2,203,929 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| FROM CAPITAL SHARE TRANSACTIONS: | |
| | | |
| | | |
| | | |
| | |
| Net proceeds from sale of shares | |
| 12,085,688 | | |
| 39,711,845 | | |
| 77,350,176 | | |
| 44,136,157 | |
| Reinvestment of distributions | |
| — | | |
| 2,066,105 | | |
| — | | |
| 2,203,929 | |
| | |
| 12,085,688 | | |
| 41,777,950 | | |
| 77,350,176 | | |
| 46,340,086 | |
| Cost of shares redeemed | |
| (8,087,028 | ) | |
| (30,612,355 | ) | |
| (11,380,254 | ) | |
| (29,895,963 | ) |
| Net increase in net assets resulting from capital share
transactions | |
| 3,998,660 | | |
| 11,165,595 | | |
| 65,969,922 | | |
| 16,444,123 | |
| Net increase in net assets | |
| 14,034,859 | | |
| 26,411,354 | | |
| 78,890,332 | | |
| 34,564,907 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Beginning of year or period | |
| 105,232,185 | | |
| 78,820,831 | | |
| 115,558,135 | | |
| 80,993,228 | |
| End of year or period | |
$ | 119,267,044 | | |
$ | 105,232,185 | | |
$ | 194,448,467 | | |
$ | 115,558,135 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF CHANGES IN NET ASSETS
| | |
Voya
Target
Retirement
2050 Fund | | |
Voya
Target
Retirement
2055 Fund | |
| | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | |
| FROM OPERATIONS: | |
| | | |
| | | |
| | | |
| | |
| Net investment income | |
$ | 307,531 | | |
$ | 1,520,779 | | |
$ | 241,043 | | |
$ | 1,317,215 | |
| Net realized gain | |
| 2,555,447 | | |
| 1,157,691 | | |
| 4,828,521 | | |
| 1,777,990 | |
| Net change in unrealized appreciation (depreciation) | |
| 5,899,890 | | |
| 12,149,424 | | |
| 4,126,653 | | |
| 10,212,589 | |
| Increase in net assets resulting from operations | |
| 8,762,868 | | |
| 14,827,894 | | |
| 9,196,217 | | |
| 13,307,794 | |
| |
| | | |
| | | |
| | | |
| | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |
| | | |
| | | |
| | | |
| | |
| Total distributions (excluding return of capital): | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| — | | |
| (67,797 | ) | |
| — | | |
| (86,016 | ) |
| Class I | |
| — | | |
| (157,913 | ) | |
| — | | |
| (182,933 | ) |
| Class R | |
| — | | |
| (79,994 | ) | |
| — | | |
| (40,164 | ) |
| Class R6 | |
| — | | |
| (1,149,815 | ) | |
| — | | |
| (968,167 | ) |
| Total distributions | |
| — | | |
| (1,455,519 | ) | |
| — | | |
| (1,277,280 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| FROM CAPITAL SHARE TRANSACTIONS: | |
| | | |
| | | |
| | | |
| | |
| Net proceeds from sale of shares | |
| 12,308,022 | | |
| 31,190,031 | | |
| 52,851,509 | | |
| 32,430,715 | |
| Reinvestment of distributions | |
| — | | |
| 1,455,519 | | |
| — | | |
| 1,273,366 | |
| | |
| 12,308,022 | | |
| 32,645,550 | | |
| 52,851,509 | | |
| 33,704,081 | |
| Cost of shares redeemed | |
| (7,099,594 | ) | |
| (20,302,323 | ) | |
| (5,062,252 | ) | |
| (17,338,920 | ) |
| Net increase in net assets resulting from capital share
transactions | |
| 5,208,428 | | |
| 12,343,227 | | |
| 47,789,257 | | |
| 16,365,161 | |
| Net increase in net assets | |
| 13,971,296 | | |
| 25,715,602 | | |
| 56,985,474 | | |
| 28,395,675 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Beginning of year or period | |
| 84,523,254 | | |
| 58,807,652 | | |
| 76,169,492 | | |
| 47,773,817 | |
| End of year or period | |
$ | 98,494,550 | | |
$ | 84,523,254 | | |
$ | 133,154,966 | | |
$ | 76,169,492 | |
See
Accompanying Notes to Financial Statements
STATEMENTS
OF CHANGES IN NET ASSETS
| | |
Voya
Target
Retirement
2060 Fund | | |
Voya
Target
Retirement
2065 Fund | |
| | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | | |
Six
Months
Ended
November
30,
2024
(Unaudited) | | |
Year
Ended
May
31,
2024 | |
| FROM OPERATIONS: | |
| | | |
| | | |
| | | |
| | |
| Net investment income | |
$ | 147,812 | | |
$ | 740,315 | | |
$ | 48,283 | | |
$ | 227,418 | |
| Net realized gain | |
| 1,486,658 | | |
| 951,956 | | |
| 605,170 | | |
| 126,159 | |
| Net change in unrealized appreciation (depreciation) | |
| 3,295,677 | | |
| 5,799,614 | | |
| 1,037,948 | | |
| 2,021,229 | |
| Increase in net assets resulting from operations | |
| 4,930,147 | | |
| 7,491,885 | | |
| 1,691,401 | | |
| 2,374,806 | |
| |
| | | |
| | | |
| | | |
| | |
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |
| | | |
| | | |
| | | |
| | |
| Total distributions (excluding return of capital): | |
| | | |
| | | |
| | | |
| | |
| Class A | |
| — | | |
| (65,559 | ) | |
| — | | |
| (25,614 | ) |
| Class I | |
| — | | |
| (31,533 | ) | |
| — | | |
| (2,832 | ) |
| Class R | |
| — | | |
| (30,834 | ) | |
| — | | |
| (948 | ) |
| Class R6 | |
| — | | |
| (577,965 | ) | |
| — | | |
| (189,022 | ) |
| Total distributions | |
| — | | |
| (705,891 | ) | |
| — | | |
| (218,416 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| FROM CAPITAL SHARE TRANSACTIONS: | |
| | | |
| | | |
| | | |
| | |
| Net proceeds from sale of shares | |
| 8,740,828 | | |
| 19,075,502 | | |
| 6,300,361 | | |
| 5,257,900 | |
| Reinvestment of distributions | |
| — | | |
| 705,868 | | |
| — | | |
| 218,389 | |
| | |
| 8,740,828 | | |
| 19,781,370 | | |
| 6,300,361 | | |
| 5,476,289 | |
| Cost of shares redeemed | |
| (2,814,376 | ) | |
| (10,164,564 | ) | |
| (714,244 | ) | |
| (1,887,674 | ) |
| Net increase in net assets resulting from capital share
transactions | |
| 5,926,452 | | |
| 9,616,806 | | |
| 5,586,117 | | |
| 3,588,615 | |
| Net increase in net assets | |
| 10,856,599 | | |
| 16,402,800 | | |
| 7,277,518 | | |
| 5,745,005 | |
| | |
| | | |
| | | |
| | | |
| | |
| NET ASSETS: | |
| | | |
| | | |
| | | |
| | |
| Beginning of year or period | |
| 45,114,498 | | |
| 28,711,698 | | |
| 14,686,747 | | |
| 8,941,742 | |
| End of year or period | |
$ | 55,971,097 | | |
$ | 45,114,498 | | |
$ | 21,964,265 | | |
$ | 14,686,747 | |
See
Accompanying Notes to Financial Statements
Financial
Highlights
| | |
| | | Income
(loss) from investment
operations | |
| |
Less
Distributions | |
| |
| | | |
| |
| | | |
Ratios
to average net assets | |
Supplemental
Data |
| | |
| Net
asset value, beginning of year or period | | |
Net
investment income (loss) | |
| Net
realized and unrealized gain (loss) | | |
Total
from investment operations | |
| From
net investment income | | |
From
net realized gains | |
| From
return of capital | | |
Total
distributions | |
| Payment
by affiliate | | |
Net
asset value, end of year or period | |
| Total
Return(1) | | |
Expenses
before
reductions/
additions(2)(3)(4) | |
| Expenses
net of fee waivers and/or recoupments if any(2)(3)(4) | | |
Expenses
net of all
reductions/
additions(2)(3)(4) | |
| Net
investment income (loss)(2)(3)(4)(5) | | |
Net
assets, end of year or period | |
| Portfolio
turnover rate | |
| Year or period ended | |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| (%)
| | |
(%)
| |
| (%)
| | |
(%)
| |
| (%)
| | |
($000’s) | |
| (%)
| |
| | |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | |
| Voya Target In-Retirement Fund |
| Class A |
| 11-30-24+ | |
| 10.31 | |
| 0.11• | |
| 0.54 | | |
0.65 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 10.96 | |
| 6.30 | |
| 0.58 | |
| 0.46 | |
| 0.46 | |
| 2.04 | |
| 61,166 | |
| 67 | |
| 05-31-24 | |
| 9.67 | |
| 0.29• | |
| 0.59 | | |
0.88 | |
| 0.24 | |
| — | |
| — | |
| 0.24 | |
| — | |
| 10.31 | |
| 9.16 | |
| 0.56 | |
| 0.42 | |
| 0.42 | |
| 2.95 | |
| 3,478 | |
| 67 | |
| 05-31-23 | |
| 10.16 | |
| 0.22•
| |
| (0.42 | ) | |
(0.20 | ) |
| 0.18 | |
| 0.11 | |
| — | |
| 0.29 | |
| — | |
| 9.67 | |
| (1.88 | ) |
| 0.59 | |
| 0.50 | |
| 0.50 | |
| 2.30 | |
| 9,946 | |
| 126 | |
| 05-31-22 | |
| 12.04 | |
| 0.20•
| |
| (0.97 | ) | |
(0.77 | ) |
| 0.20 | |
| 0.91 | |
| — | |
| 1.11 | |
| — | |
| 10.16 | |
| (7.35 | ) |
| 0.55 | |
| 0.55 | |
| 0.55 | |
| 1.72 | |
| 8,933 | |
| 60 | |
| 05-31-21 | |
| 10.87 | |
| 0.20•
| |
| 1.36 | | |
1.56 | |
| 0.28 | |
| 0.11 | |
| — | |
| 0.39 | |
| — | |
| 12.04 | |
| 14.43 | |
| 0.71 | |
| 0.71 | |
| 0.71 | |
| 1.71 | |
| 9,712 | |
| 86 | |
| 05-31-20 | |
| 10.86 | |
| 0.25•
| |
| 0.35 | | |
0.60 | |
| 0.27 | |
| 0.32 | |
| — | |
| 0.59 | |
| — | |
| 10.87 | |
| 5.43 | |
| 0.72 | |
| 0.72 | |
| 0.72 | |
| 2.31 | |
| 3,390 | |
| 85 | |
| Class I |
| 11-30-24+ | |
| 10.32 | |
| 0.16•
| |
| 0.52 | | |
0.68 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 11.00 | |
| 6.59 | |
| 0.25 | |
| 0.11 | |
| 0.11 | |
| 2.99 | |
| 5,415 | |
| 67 | |
| 05-31-24 | |
| 9.72 | |
| 0.34•
| |
| 0.57 | | |
0.91 | |
| 0.31 | |
| — | |
| — | |
| 0.31 | |
| — | |
| 10.32 | |
| 9.46 | |
| 0.25 | |
| 0.07 | |
| 0.07 | |
| 3.41 | |
| 3,714 | |
| 67 | |
| 05-31-23 | |
| 10.22 | |
| 0.26•
| |
| (0.43 | ) | |
(0.17 | ) |
| 0.22 | |
| 0.11 | |
| — | |
| 0.33 | |
| — | |
| 9.72 | |
| (1.56 | ) |
| 0.20 | |
| 0.16 | |
| 0.16 | |
| 2.67 | |
| 1,525 | |
| 126 | |
| 05-31-22 | |
| 12.09 | |
| 0.24•
| |
| (0.96 | ) | |
(0.72 | ) |
| 0.24 | |
| 0.91 | |
| — | |
| 1.15 | |
| — | |
| 10.22 | |
| (6.94 | ) |
| 0.20 | |
| 0.20 | |
| 0.20 | |
| 2.07 | |
| 1,666 | |
| 60 | |
| 05-31-21 | |
| 10.92 | |
| 0.24•
| |
| 1.35 | | |
1.59 | |
| 0.31 | |
| 0.11 | |
| — | |
| 0.42 | |
| — | |
| 12.09 | |
| 14.70 | |
| 0.40 | |
| 0.40 | |
| 0.40 | |
| 2.06 | |
| 1,312 | |
| 86 | |
| 05-31-20 | |
| 10.90 | |
| 0.28 | |
| 0.35 | | |
0.63 | |
| 0.29 | |
| 0.32 | |
| — | |
| 0.61 | |
| — | |
| 10.92 | |
| 5.71 | |
| 0.44 | |
| 0.44 | |
| 0.44 | |
| 2.60 | |
| 93 | |
| 85 | |
| Class R |
| 11-30-24+ | |
| 10.20 | |
| 0.13•
| |
| 0.50 | | |
0.63 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 10.83 | |
| 6.18 | |
| 0.83 | |
| 0.71 | |
| 0.71 | |
| 2.47 | |
| 1,412 | |
| 67 | |
| 05-31-24 | |
| 9.64 | |
| 0.29•
| |
| 0.57 | | |
0.86 | |
| 0.30 | |
| — | |
| — | |
| 0.30 | |
| — | |
| 10.20 | |
| 9.01 | |
| 0.81 | |
| 0.67 | |
| 0.67 | |
| 2.84 | |
| 1,189 | |
| 67 | |
| 05-31-23 | |
| 10.12 | |
| 0.20•
| |
| (0.43 | ) | |
(0.23 | ) |
| 0.14 | |
| 0.11 | |
| — | |
| 0.25 | |
| — | |
| 9.64 | |
| (2.25 | ) |
| 0.84 | |
| 0.75 | |
| 0.75 | |
| 2.04 | |
| 27 | |
| 126 | |
| 05-31-22 | |
| 12.01 | |
| 0.18•
| |
| (0.98 | ) | |
(0.80 | ) |
| 0.18 | |
| 0.91 | |
| — | |
| 1.09 | |
| — | |
| 10.12 | |
| (7.62 | ) |
| 0.80 | |
| 0.80 | |
| 0.80 | |
| 1.57 | |
| 16 | |
| 60 | |
| 05-31-21 | |
| 10.86 | |
| 0.17•
| |
| 1.35 | | |
1.52 | |
| 0.26 | |
| 0.11 | |
| — | |
| 0.37 | |
| — | |
| 12.01 | |
| 14.08 | |
| 0.96 | |
| 0.96 | |
| 0.96 | |
| 1.49 | |
| 60 | |
| 86 | |
| 05-31-20 | |
| 10.84 | |
| 0.23 | |
| 0.35 | | |
0.58 | |
| 0.24 | |
| 0.32 | |
| — | |
| 0.56 | |
| — | |
| 10.86 | |
| 5.25 | |
| 0.97 | |
| 0.97 | |
| 0.97 | |
| 2.07 | |
| 3 | |
| 85 | |
| Class R6 |
| 11-30-24+ | |
| 10.32 | |
| 0.17•
| |
| 0.51 | | |
0.68 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 11.00 | |
| 6.59 | |
| 0.19 | |
| 0.07 | |
| 0.07 | |
| 3.10 | |
| 44,006 | |
| 67 | |
| 05-31-24 | |
| 9.72 | |
| 0.34•
| |
| 0.58 | | |
0.92 | |
| 0.32 | |
| — | |
| — | |
| 0.32 | |
| — | |
| 10.32 | |
| 9.50 | |
| 0.19 | |
| 0.06 | |
| 0.06 | |
| 3.36 | |
| 40,518 | |
| 67 | |
| 05-31-23 | |
| 10.22 | |
| 0.26•
| |
| (0.43 | ) | |
(0.17 | ) |
| 0.22 | |
| 0.11 | |
| — | |
| 0.33 | |
| — | |
| 9.72 | |
| (1.55 | ) |
| 0.19 | |
| 0.15 | |
| 0.15 | |
| 2.66 | |
| 38,771 | |
| 126 | |
| 05-31-22 | |
| 12.09 | |
| 0.24•
| |
| (0.96 | ) | |
(0.72 | ) |
| 0.24 | |
| 0.91 | |
| — | |
| 1.15 | |
| — | |
| 10.22 | |
| (6.93 | ) |
| 0.19 | |
| 0.19 | |
| 0.19 | |
| 2.06 | |
| 33,856 | |
| 60 | |
| 05-31-21 | |
| 10.92 | |
| 0.24•
| |
| 1.35 | | |
1.59 | |
| 0.31 | |
| 0.11 | |
| — | |
| 0.42 | |
| — | |
| 12.09 | |
| 14.72 | |
| 0.38 | |
| 0.38 | |
| 0.38 | |
| 2.08 | |
| 23,194 | |
| 86 | |
| 05-31-20 | |
| 10.90 | |
| 0.29•
| |
| 0.34 | | |
0.63 | |
| 0.29 | |
| 0.32 | |
| — | |
| 0.61 | |
| — | |
| 10.92 | |
| 5.73 | |
| 0.43 | |
| 0.43 | |
| 0.43 | |
| 2.63 | |
| 7,139 | |
| 85 | |
| Voya Target Retirement
2025 Fund |
| Class A |
| 11-30-24+ | |
| 12.00 | |
| 0.11•
| |
| 0.75 | | |
0.86 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 12.86 | |
| 7.17 | |
| 0.47 | |
| 0.36 | |
| 0.36 | |
| 1.79 | |
| 71,730 | |
| 48 | |
| 05-31-24 | |
| 10.87 | |
| 0.30•
| |
| 1.10 | | |
1.40 | |
| 0.27 | |
| — | |
| — | |
| 0.27 | |
| — | |
| 12.00 | |
| 12.94 | |
| 0.47 | |
| 0.36 | |
| 0.36 | |
| 2.65 | |
| 7,382 | |
| 59 | |
| 05-31-23 | |
| 11.54 | |
| 0.23•
| |
| (0.45 | ) | |
(0.22 | ) |
| 0.19 | |
| 0.26 | |
| — | |
| 0.45 | |
| — | |
| 10.87 | |
| (1.72 | ) |
| 0.48 | |
| 0.44 | |
| 0.44 | |
| 2.16 | |
| 16,224 | |
| 116 | |
| 05-31-22 | |
| 14.20 | |
| 0.23•
| |
| (1.07 | ) | |
(0.84 | ) |
| 0.26 | |
| 1.56 | |
| — | |
| 1.82 | |
| — | |
| 11.54 | |
| (7.42 | ) |
| 0.48 | |
| 0.48 | |
| 0.48 | |
| 1.70 | |
| 12,510 | |
| 63 | |
| 05-31-21 | |
| 11.94 | |
| 0.20•
| |
| 2.71 | | |
2.91 | |
| 0.31 | |
| 0.34 | |
| — | |
| 0.65 | |
| — | |
| 14.20 | |
| 24.65 | |
| 0.67 | |
| 0.67 | |
| 0.67 | |
| 1.53 | |
| 12,443 | |
| 97 | |
| 05-31-20 | |
| 11.76 | |
| 0.25•
| |
| 0.45 | | |
0.70 | |
| 0.23 | |
| 0.29 | |
| — | |
| 0.52 | |
| — | |
| 11.94 | |
| 5.78 | |
| 0.70 | |
| 0.70 | |
| 0.70 | |
| 2.11 | |
| 8,584 | |
| 93 | |
| Class I |
| 11-30-24+ | |
| 12.09 | |
| 0.16•
| |
| 0.72 | | |
0.88 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 12.97 | |
| 7.28 | |
| 0.24 | |
| 0.13 | |
| 0.13 | |
| 2.50 | |
| 6,721 | |
| 48 | |
| 05-31-24 | |
| 10.96 | |
| 0.33•
| |
| 1.11 | | |
1.44 | |
| 0.31 | |
| — | |
| — | |
| 0.31 | |
| — | |
| 12.09 | |
| 13.22 | |
| 0.28 | |
| 0.16 | |
| 0.16 | |
| 2.92 | |
| 5,435 | |
| 59 | |
| 05-31-23 | |
| 11.64 | |
| 0.27•
| |
| (0.47 | ) | |
(0.20 | ) |
| 0.22 | |
| 0.26 | |
| — | |
| 0.48 | |
| — | |
| 10.96 | |
| (1.51 | ) |
| 0.31 | |
| 0.23 | |
| 0.23 | |
| 2.45 | |
| 482 | |
| 116 | |
| 05-31-22 | |
| 14.28 | |
| 0.19•
| |
| (1.02 | ) | |
(0.83 | ) |
| 0.25 | |
| 1.56 | |
| — | |
| 1.81 | |
| — | |
| 11.64 | |
| (7.29 | ) |
| 0.28 | |
| 0.37 | |
| 0.37 | |
| 1.32 | |
| 73 | |
| 63 | |
| 05-31-21 | |
| 12.00 | |
| 0.23•
| |
| 2.72 | | |
2.95 | |
| 0.33 | |
| 0.34 | |
| — | |
| 0.67 | |
| — | |
| 14.28 | |
| 24.91 | |
| 0.67 | |
| 0.45 | |
| 0.45 | |
| 1.74 | |
| 61 | |
| 97 | |
| 05-31-20 | |
| 11.81 | |
| 0.30•
| |
| 0.42 | | |
0.72 | |
| 0.24 | |
| 0.29 | |
| — | |
| 0.53 | |
| — | |
| 12.00 | |
| 5.93 | |
| 0.47 | |
| 0.47 | |
| 0.47 | |
| 2.41 | |
| 40 | |
| 93 | |
| Class R |
| 11-30-24+ | |
| 11.91 | |
| 0.13•
| |
| 0.71 | | |
0.84 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 12.75 | |
| 7.05 | |
| 0.72 | |
| 0.61 | |
| 0.61 | |
| 2.04 | |
| 4,564 | |
| 48 | |
| 05-31-24 | |
| 10.84 | |
| 0.34•
| |
| 1.03 | | |
1.37 | |
| 0.30 | |
| — | |
| — | |
| 0.30 | |
| — | |
| 11.91 | |
| 12.71 | |
| 0.72 | |
| 0.61 | |
| 0.61 | |
| 2.92 | |
| 4,302 | |
| 59 | |
| 05-31-23 | |
| 11.51 | |
| 0.21•
| |
| (0.46 | ) | |
(0.25 | ) |
| 0.16 | |
| 0.26 | |
| — | |
| 0.42 | |
| — | |
| 10.84 | |
| (2.01 | ) |
| 0.73 | |
| 0.69 | |
| 0.69 | |
| 1.95 | |
| 456 | |
| 116 | |
| 05-31-22 | |
| 14.14 | |
| 0.19•
| |
| (1.05 | ) | |
(0.86 | ) |
| 0.21 | |
| 1.56 | |
| — | |
| 1.77 | |
| — | |
| 11.51 | |
| (7.57 | ) |
| 0.73 | |
| 0.73 | |
| 0.73 | |
| 1.42 | |
| 482 | |
| 63 | |
| 05-31-21 | |
| 11.90 | |
| 0.17•
| |
| 2.69 | | |
2.86 | |
| 0.28 | |
| 0.34 | |
| — | |
| 0.62 | |
| — | |
| 14.14 | |
| 24.27 | |
| 0.92 | |
| 0.92 | |
| 0.92 | |
| 1.29 | |
| 697 | |
| 97 | |
See
Accompanying Notes to Financial Statements
Financial
Highlights (continued)
| | |
| | | Income
(loss) from investment
operations | |
| |
Less
Distributions | |
| |
| | | |
| |
| | | |
Ratios
to average net assets | |
Supplemental
Data |
| | |
| Net
asset value, beginning of year or period | | |
Net
investment income (loss) | |
| Net
realized and unrealized gain (loss) | | |
Total
from investment operations | |
| From
net investment income | | |
From
net realized gains | |
| From
return of capital | | |
Total
distributions | |
| Payment
by affiliate | | |
Net
asset value, end of year or period | |
| Total
Return(1) | | |
Expenses
before
reductions/
additions(2)(3)(4) | |
| Expenses
net of fee waivers and/or recoupments if any(2)(3)(4) | | |
Expenses
net of all
reductions/
additions(2)(3)(4) | |
| Net
investment income (loss)(2)(3)(4)(5) | | |
Net
assets, end of year or period | |
| Portfolio
turnover rate | |
| Year or period ended | |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| ($)
| | |
($)
| |
| (%)
| | |
(%)
| |
| (%)
| | |
(%)
| |
| (%)
| | |
($000's) | |
| (%)
| |
| | |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | | |
| |
| | |
| Voya Target Retirement
2025 Fund (continued) |
| Class R (continued) |
| 05-31-20 | |
| 11.72 | |
| 0.22•
| |
| 0.45 | | |
0.67 | |
| 0.20 | |
| 0.29 | |
| — | |
| 0.49 | |
| — | |
| 11.90 | |
| 5.53 | |
| 0.95 | |
| 0.95 | |
| 0.95 | |
| 1.79 | |
| 570 | |
| 93 | |
| Class R6 | |
| | |
| | |
| | | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| 11-30-24+ | |
| 12.07 | |
| 0.16•
| |
| 0.73 | | |
0.89 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 12.96 | |
| 7.37 | |
| 0.19 | |
| 0.08 | |
| 0.08 | |
| 2.56 | |
| 71,778 | |
| 48 | |
| 05-31-24 | |
| 10.95 | |
| 0.34•
| |
| 1.10 | | |
1.44 | |
| 0.32 | |
| — | |
| — | |
| 0.32 | |
| — | |
| 12.07 | |
| 13.22 | |
| 0.18 | |
| 0.07 | |
| 0.07 | |
| 3.01 | |
| 64,808 | |
| 59 | |
| 05-31-23 | |
| 11.62 | |
| 0.27•
| |
| (0.46 | ) | |
(0.19 | ) |
| 0.22 | |
| 0.26 | |
| — | |
| 0.48 | |
| — | |
| 10.95 | |
| (1.41 | ) |
| 0.18 | |
| 0.15 | |
| 0.15 | |
| 2.44 | |
| 62,576 | |
| 116 | |
| 05-31-22 | |
| 14.28 | |
| 0.26•
| |
| (1.06 | ) | |
(0.80 | ) |
| 0.30 | |
| 1.56 | |
| — | |
| 1.86 | |
| — | |
| 11.62 | |
| (7.12 | ) |
| 0.19 | |
| 0.19 | |
| 0.19 | |
| 1.94 | |
| 51,976 | |
| 63 | |
| 05-31-21 | |
| 12.00 | |
| 0.24•
| |
| 2.72 | | |
2.96 | |
| 0.34 | |
| 0.34 | |
| — | |
| 0.68 | |
| — | |
| 14.28 | |
| 24.99 | |
| 0.38 | |
| 0.38 | |
| 0.38 | |
| 1.81 | |
| 33,017 | |
| 97 | |
| 05-31-20 | |
| 11.80 | |
| 0.27 | |
| 0.47 | | |
0.74 | |
| 0.25 | |
| 0.29 | |
| — | |
| 0.54 | |
| — | |
| 12.00 | |
| 6.09 | |
| 0.41 | |
| 0.41 | |
| 0.41 | |
| 2.27 | |
| 23,838 | |
| 93 | |
| Voya Target Retirement 2030 Fund |
| Class A |
| 11-30-24+ | |
| 12.72 | |
| 0.09•
| |
| 0.95 | | |
1.04 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 13.76 | |
| 8.18 | |
| 0.49 | |
| 0.38 | |
| 0.38 | |
| 1.41 | |
| 42,924 | |
| 23 | |
| 05-31-24 | |
| 11.28 | |
| 0.28•
| |
| 1.42 | | |
1.70 | |
| 0.26 | |
| — | |
| — | |
| 0.26 | |
| — | |
| 12.72 | |
| 15.18 | |
| 0.49 | |
| 0.37 | |
| 0.37 | |
| 2.34 | |
| 11,146 | |
| 52 | |
| 05-31-23 | |
| 12.05 | |
| 0.22•
| |
| (0.45 | ) | |
(0.23 | ) |
| 0.19 | |
| 0.35 | |
| — | |
| 0.54 | |
| — | |
| 11.28 | |
| (1.60 | ) |
| 0.48 | |
| 0.45 | |
| 0.45 | |
| 1.95 | |
| 20,627 | |
| 119 | |
| 05-31-22 | |
| 14.79 | |
| 0.23•
| |
| (1.07 | ) | |
(0.84 | ) |
| 0.31 | |
| 1.59 | |
| — | |
| 1.90 | |
| — | |
| 12.05 | |
| (7.23 | ) |
| 0.48 | |
| 0.48 | |
| 0.48 | |
| 1.68 | |
| 13,656 | |
| 58 | |
| 05-31-21 | |
| 11.91 | |
| 0.18•
| |
| 3.28 | | |
3.46 | |
| 0.27 | |
| 0.31 | |
| — | |
| 0.58 | |
| — | |
| 14.79 | |
| 29.41 | |
| 0.68 | |
| 0.68 | |
| 0.68 | |
| 1.32 | |
| 12,455 | |
| 98 | |
| 05-31-20 | |
| 11.71 | |
| 0.23•
| |
| 0.46 | | |
0.69 | |
| 0.19 | |
| 0.30 | |
| — | |
| 0.49 | |
| — | |
| 11.91 | |
| 5.74 | |
| 0.70 | |
| 0.70 | |
| 0.70 | |
| 1.93 | |
| 7,929 | |
| 93 | |
| Class I |
| 11-30-24+ | |
| 12.81 | |
| 0.13•
| |
| 0.93 | | |
1.06 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 13.87 | |
| 8.28 | |
| 0.24 | |
| 0.13 | |
| 0.13 | |
| 1.94 | |
| 14,899 | |
| 23 | |
| 05-31-24 | |
| 11.37 | |
| 0.32•
| |
| 1.42 | | |
1.74 | |
| 0.30 | |
| — | |
| — | |
| 0.30 | |
| — | |
| 12.81 | |
| 15.47 | |
| 0.24 | |
| 0.12 | |
| 0.12 | |
| 2.67 | |
| 12,255 | |
| 52 | |
| 05-31-23 | |
| 12.14 | |
| 0.25•
| |
| (0.45 | ) | |
(0.20 | ) |
| 0.22 | |
| 0.35 | |
| — | |
| 0.57 | |
| — | |
| 11.37 | |
| (1.34 | ) |
| 0.23 | |
| 0.20 | |
| 0.20 | |
| 2.20 | |
| 1,162 | |
| 119 | |
| 05-31-22 | |
| 14.88 | |
| 0.29•
| |
| (1.10 | ) | |
(0.81 | ) |
| 0.34 | |
| 1.59 | |
| — | |
| 1.93 | |
| — | |
| 12.14 | |
| (6.97 | ) |
| 0.23 | |
| 0.23 | |
| 0.23 | |
| 2.03 | |
| 1,444 | |
| 58 | |
| 05-31-21 | |
| 11.98 | |
| 0.16•
| |
| 3.35 | | |
3.51 | |
| 0.30 | |
| 0.31 | |
| — | |
| 0.61 | |
| — | |
| 14.88 | |
| 29.69 | |
| 0.42 | |
| 0.42 | |
| 0.42 | |
| 1.15 | |
| 926 | |
| 98 | |
| 05-31-20 | |
| 11.76 | |
| 0.26•
| |
| 0.47 | | |
0.73 | |
| 0.21 | |
| 0.30 | |
| — | |
| 0.51 | |
| — | |
| 11.98 | |
| 6.03 | |
| 0.45 | |
| 0.45 | |
| 0.45 | |
| 2.13 | |
| 148 | |
| 93 | |
| Class R |
| 11-30-24+ | |
| 12.56 | |
| 0.10•
| |
| 0.91 | | |
1.01 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 13.57 | |
| 8.04 | |
| 0.74 | |
| 0.63 | |
| 0.63 | |
| 1.48 | |
| 5,373 | |
| 23 | |
| 05-31-24 | |
| 11.20 | |
| 0.34•
| |
| 1.32 | | |
1.66 | |
| 0.30 | |
| — | |
| — | |
| 0.30 | |
| — | |
| 12.56 | |
| 14.90 | |
| 0.74 | |
| 0.62 | |
| 0.62 | |
| 2.81 | |
| 5,840 | |
| 52 | |
| 05-31-23 | |
| 11.97 | |
| 0.20•
| |
| (0.44 | ) | |
(0.24 | ) |
| 0.18 | |
| 0.35 | |
| — | |
| 0.53 | |
| — | |
| 11.20 | |
| (1.72 | ) |
| 0.73 | |
| 0.70 | |
| 0.70 | |
| 1.81 | |
| 174 | |
| 119 | |
| 05-31-22 | |
| 14.72 | |
| 0.20•
| |
| (1.08 | ) | |
(0.88 | ) |
| 0.28 | |
| 1.59 | |
| — | |
| 1.87 | |
| — | |
| 11.97 | |
| (7.50 | ) |
| 0.73 | |
| 0.73 | |
| 0.73 | |
| 1.47 | |
| 98 | |
| 58 | |
| 05-31-21 | |
| 11.87 | |
| 0.15•
| |
| 3.26 | | |
3.41 | |
| 0.25 | |
| 0.31 | |
| — | |
| 0.56 | |
| — | |
| 14.72 | |
| 29.08 | |
| 0.93 | |
| 0.93 | |
| 0.93 | |
| 1.12 | |
| 68 | |
| 98 | |
| 05-31-20 | |
| 11.68 | |
| 0.18•
| |
| 0.48 | | |
0.66 | |
| 0.17 | |
| 0.30 | |
| — | |
| 0.47 | |
| — | |
| 11.87 | |
| 5.47 | |
| 0.95 | |
| 0.95 | |
| 0.95 | |
| 1.46 | |
| 53 | |
| 93 | |
| Class R6 |
| 11-30-24+ | |
| 12.80 | |
| 0.13•
| |
| 0.93 | | |
1.06 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 13.86 | |
| 8.28 | |
| 0.19 | |
| 0.09 | |
| 0.09 | |
| 2.00 | |
| 99,585 | |
| 23 | |
| 05-31-24 | |
| 11.36 | |
| 0.33•
| |
| 1.42 | | |
1.75 | |
| 0.31 | |
| — | |
| — | |
| 0.31 | |
| — | |
| 12.80 | |
| 15.53 | |
| 0.18 | |
| 0.08 | |
| 0.08 | |
| 2.76 | |
| 90,031 | |
| 52 | |
| 05-31-23 | |
| 12.12 | |
| 0.27•
| |
| (0.45 | ) | |
(0.18 | ) |
| 0.23 | |
| 0.35 | |
| — | |
| 0.58 | |
| — | |
| 11.36 | |
| (1.20 | ) |
| 0.19 | |
| 0.16 | |
| 0.16 | |
| 2.33 | |
| 78,852 | |
| 119 | |
| 05-31-22 | |
| 14.87 | |
| 0.26•
| |
| (1.07 | ) | |
(0.81 | ) |
| 0.35 | |
| 1.59 | |
| — | |
| 1.94 | |
| — | |
| 12.12 | |
| (7.01 | ) |
| 0.19 | |
| 0.19 | |
| 0.19 | |
| 1.89 | |
| 64,302 | |
| 58 | |
| 05-31-21 | |
| 11.97 | |
| 0.22•
| |
| 3.29 | | |
3.51 | |
| 0.30 | |
| 0.31 | |
| — | |
| 0.61 | |
| — | |
| 14.87 | |
| 29.73 | |
| 0.38 | |
| 0.38 | |
| 0.38 | |
| 1.58 | |
| 34,878 | |
| 98 | |
| 05-31-20 | |
| 11.75 | |
| 0.23 | |
| 0.51 | | |
0.74 | |
| 0.22 | |
| 0.30 | |
| — | |
| 0.52 | |
| — | |
| 11.97 | |
| 6.08 | |
| 0.41 | |
| 0.41 | |
| 0.41 | |
| 2.04 | |
| 21,771 | |
| 93 | |
| Voya Target Retirement
2035 Fund |
| Class A |
| 11-30-24+ | |
| 12.97 | |
| 0.06•
| |
| 1.08 | | |
1.14 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 14.11 | |
| 8.79 | |
| 0.50 | |
| 0.40 | |
| 0.40 | |
| 0.92 | |
| 87,454 | |
| 27 | |
| 05-31-24 | |
| 11.24 | |
| 0.25•
| |
| 1.71 | | |
1.96 | |
| 0.23 | |
| — | |
| — | |
| 0.23 | |
| — | |
| 12.97 | |
| 17.58 | |
| 0.49 | |
| 0.39 | |
| 0.39 | |
| 2.12 | |
| 12,818 | |
| 52 | |
| 05-31-23 | |
| 12.04 | |
| 0.20•
| |
| (0.39 | ) | |
(0.19 | ) |
| 0.18 | |
| 0.43 | |
| — | |
| 0.61 | |
| — | |
| 11.24 | |
| (1.26 | ) |
| 0.51 | |
| 0.48 | |
| 0.48 | |
| 1.78 | |
| 17,474 | |
| 103 | |
| 05-31-22 | |
| 15.23 | |
| 0.23•
| |
| (1.04 | ) | |
(0.81 | ) |
| 0.32 | |
| 2.06 | |
| — | |
| 2.38 | |
| — | |
| 12.04 | |
| (7.26 | ) |
| 0.50 | |
| 0.50 | |
| 0.50 | |
| 1.58 | |
| 11,446 | |
| 59 | |
| 05-31-21 | |
| 11.84 | |
| 0.15•
| |
| 3.81 | | |
3.96 | |
| 0.24 | |
| 0.33 | |
| — | |
| 0.57 | |
| — | |
| 15.23 | |
| 33.87 | |
| 0.69 | |
| 0.69 | |
| 0.69 | |
| 1.08 | |
| 11,286 | |
| 106 | |
| 05-31-20 | |
| 11.66 | |
| 0.20•
| |
| 0.49 | | |
0.69 | |
| 0.19 | |
| 0.32 | |
| — | |
| 0.51 | |
| — | |
| 11.84 | |
| 5.69 | |
| 0.72 | |
| 0.72 | |
| 0.72 | |
| 1.67 | |
| 6,316 | |
| 95 | |
| Class I |
| 11-30-24+ | |
| 13.10 | |
| 0.11•
| |
| 1.05 | | |
1.16 | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 14.26 | |
| 8.86 | |
| 0.20 | |
| 0.10 | |
| 0.10 | |
| 1.58 | |
| 15,030 | |
| 27 | |
| 05-31-24 | |
| 11.36 | |
| 0.30•
| |
| 1.72 | | |
2.02 | |
| 0.28 | |
| — | |
| — | |
| 0.28 | |
| — | |
| 13.10 | |
| 17.90 | |
| 0.19 | |
| 0.09 | |
| 0.09 | |
| 2.49 | |
| 14,247 | |
| 52 | |
See
Accompanying Notes to Financial Statements
FINANCIAL
HIGHLIGHTS (continued)
| |
| |
| | |
Income
(loss)
from investment
operations | | |
| | |
Less
Distributions | | |
| | |
| | |
| | |
| | |
Ratios
to average net assets | | |
Supplemental
Data | |
| |
| |
Net
asset
value,
beginning
of year
or period | | |
Net
investment
income
(loss) | | |
Net
realized
and
unrealized
gain
(loss) | | |
Total
from
investment
operations | | |
From
net
investment
income | | |
From
net
realized
gains | | |
From
return of
capital | | |
Total
distributions | | |
Payment
by
affiliate | | |
Net
asset
value,
end of
year or
period | | |
Total
Return(1) | | |
Expenses
before
reductions/
additions
(2)(3)(4) | | |
Expenses
net
of
fee
waivers
and/or
recoupments
if
any
(2)(3)(4) | | |
Expenses
net of all
reductions/
additions
(2)(3)(4) | | |
Net
investment
income
(loss)
(2)(3)(4)(5) | | |
Net
assets,
end of
year or
period | | |
Portfolio
turnover
rate | |
Year or
period ended |
| |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
($000’s) | | |
(%) | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Voya
Target Retirement 2035 Fund (continued) |
| Class
I (continued) |
| 05-31-23 |
| |
12.16 | | |
0.25 | • | |
(0.40 | ) | |
(0.15 | ) | |
0.22 | | |
0.43 | | |
— | | |
0.65 | | |
— | | |
11.36 | | |
(0.93 | ) | |
0.21 | | |
0.18 | | |
0.18 | | |
2.22 | | |
1,314 | | |
103 | |
| 05-31-22 |
| |
15.34 | | |
0.25 | • | |
(1.01 | ) | |
(0.76 | ) | |
0.36 | | |
2.06 | | |
— | | |
2.42 | | |
— | | |
12.16 | | |
(6.89 | ) | |
0.20 | | |
0.20 | | |
0.20 | | |
1.68 | | |
399 | | |
59 | |
| 05-31-21 |
| |
11.91 | | |
0.19 | • | |
3.84 | | |
4.03 | | |
0.27 | | |
0.33 | | |
— | | |
0.60 | | |
— | | |
15.34 | | |
34.29 | | |
0.39 | | |
0.39 | | |
0.39 | | |
1.39 | | |
967 | | |
106 | |
| 05-31-20 |
| |
11.71 | | |
0.24 | | |
0.49 | | |
0.73 | | |
0.21 | | |
0.32 | | |
— | | |
0.53 | | |
— | | |
11.91 | | |
6.01 | | |
0.42 | | |
0.42 | | |
0.42 | | |
1.96 | | |
642 | | |
95 | |
| Class
R |
| 11-30-24+ |
| |
12.85 | | |
0.07 | • | |
1.04 | | |
1.11 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
13.96 | | |
8.64 | | |
0.75 | | |
0.65 | | |
0.65 | | |
1.04 | | |
6,150 | | |
27 | |
| 05-31-24 |
| |
11.19 | | |
0.30 | • | |
1.62 | | |
1.92 | | |
0.26 | | |
— | | |
— | | |
0.26 | | |
— | | |
12.85 | | |
17.24 | | |
0.74 | | |
0.64 | | |
0.64 | | |
2.42 | | |
5,671 | | |
52 | |
| 05-31-23 |
| |
11.99 | | |
0.17 | • | |
(0.37 | ) | |
(0.20 | ) | |
0.17 | | |
0.43 | | |
— | | |
0.60 | | |
— | | |
11.19 | | |
(1.44 | ) | |
0.76 | | |
0.73 | | |
0.73 | | |
1.51 | | |
1,035 | | |
103 | |
| 05-31-22 |
| |
15.19 | | |
0.03 | • | |
(0.87 | ) | |
(0.84 | ) | |
0.30 | | |
2.06 | | |
— | | |
2.36 | | |
— | | |
11.99 | | |
(7.48 | ) | |
0.75 | | |
0.75 | | |
0.75 | | |
0.25 | | |
696 | | |
59 | |
| 05-31-21 |
| |
11.81 | | |
0.04 | • | |
3.87 | | |
3.91 | | |
0.20 | | |
0.33 | | |
— | | |
0.53 | | |
— | | |
15.19 | | |
33.50 | | |
0.94 | | |
0.94 | | |
0.94 | | |
0.30 | | |
61 | | |
106 | |
| 05-31-20 |
| |
11.64 | | |
0.08 | | |
0.58 | | |
0.66 | | |
0.17 | | |
0.32 | | |
— | | |
0.49 | | |
— | | |
11.81 | | |
5.46 | | |
0.97 | | |
0.97 | | |
0.97 | | |
0.63 | | |
6 | | |
95 | |
| Class
R6 |
| 11-30-24+ |
| |
13.06 | | |
0.11 | • | |
1.06 | | |
1.17 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
14.23 | | |
8.96 | | |
0.19 | | |
0.09 | | |
0.09 | | |
1.59 | | |
114,751 | | |
27 | |
| 05-31-24 |
| |
11.33 | | |
0.32 | • | |
1.69 | | |
2.01 | | |
0.28 | | |
— | | |
— | | |
0.28 | | |
— | | |
13.06 | | |
17.89 | | |
0.18 | | |
0.08 | | |
0.08 | | |
2.60 | | |
100,966 | | |
52 | |
| 05-31-23 |
| |
12.13 | | |
0.24 | • | |
(0.39 | ) | |
(0.15 | ) | |
0.22 | | |
0.43 | | |
— | | |
0.65 | | |
— | | |
11.33 | | |
(0.93 | ) | |
0.18 | | |
0.16 | | |
0.16 | | |
2.15 | | |
78,803 | | |
103 | |
| 05-31-22 |
| |
15.31 | | |
0.26 | • | |
(1.01 | ) | |
(0.75 | ) | |
0.37 | | |
2.06 | | |
— | | |
2.43 | | |
— | | |
12.13 | | |
(6.89 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.82 | | |
66,848 | | |
59 | |
| 05-31-21 |
| |
11.89 | | |
0.19 | • | |
3.84 | | |
4.03 | | |
0.28 | | |
0.33 | | |
— | | |
0.61 | | |
— | | |
15.31 | | |
34.27 | | |
0.38 | | |
0.38 | | |
0.38 | | |
1.39 | | |
40,475 | | |
106 | |
| 05-31-20 |
| |
11.69 | | |
0.22 | | |
0.52 | | |
0.74 | | |
0.22 | | |
0.32 | | |
— | | |
0.54 | | |
— | | |
11.89 | | |
6.03 | | |
0.41 | | |
0.41 | | |
0.41 | | |
1.92 | | |
24,983 | | |
95 | |
| Voya
Target Retirement 2040 Fund |
| Class
A |
| 11-30-24+ |
| |
14.07 | | |
0.07 | • | |
1.24 | | |
1.31 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.38 | | |
9.31 | | |
0.52 | | |
0.43 | | |
0.43 | | |
0.89 | | |
9,352 | | |
11 | |
| 05-31-24 |
| |
11.94 | | |
0.23 | • | |
2.12 | | |
2.35 | | |
0.22 | | |
— | | |
— | | |
0.22 | | |
— | | |
14.07 | | |
19.77 | | |
0.51 | | |
0.43 | | |
0.43 | | |
1.81 | | |
7,953 | | |
48 | |
| 05-31-23 |
| |
12.73 | | |
0.19 | • | |
(0.33 | ) | |
(0.14 | ) | |
0.19 | | |
0.46 | | |
— | | |
0.65 | | |
— | | |
11.94 | | |
(0.81 | ) | |
0.53 | | |
0.49 | | |
0.49 | | |
1.61 | | |
17,280 | | |
98 | |
| 05-31-22 |
| |
16.08 | | |
0.21 | • | |
(1.02 | ) | |
(0.81 | ) | |
0.35 | | |
2.19 | | |
— | | |
2.54 | | |
— | | |
12.73 | | |
(7.11 | ) | |
0.52 | | |
0.52 | | |
0.52 | | |
1.40 | | |
11,929 | | |
61 | |
| 05-31-21 |
| |
12.06 | | |
0.14 | • | |
4.40 | | |
4.54 | | |
0.22 | | |
0.30 | | |
— | | |
0.52 | | |
— | | |
16.08 | | |
38.07 | | |
0.71 | | |
0.71 | | |
0.71 | | |
0.97 | | |
9,349 | | |
112 | |
| 05-31-20 |
| |
11.85 | | |
0.22 | • | |
0.52 | | |
0.74 | | |
0.18 | | |
0.35 | | |
— | | |
0.53 | | |
— | | |
12.06 | | |
5.87 | | |
0.74 | | |
0.74 | | |
0.74 | | |
1.77 | | |
4,759 | | |
101 | |
| Class
I |
| 11-30-24+ |
| |
14.16 | | |
0.09 | • | |
1.25 | | |
1.34 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.50 | | |
9.46 | | |
0.23 | | |
0.14 | | |
0.14 | | |
1.17 | | |
12,573 | | |
11 | |
| 05-31-24 |
| |
12.03 | | |
0.29 | • | |
2.12 | | |
2.41 | | |
0.28 | | |
— | | |
— | | |
0.28 | | |
— | | |
14.16 | | |
20.20 | | |
0.22 | | |
0.14 | | |
0.14 | | |
2.23 | | |
11,448 | | |
48 | |
| 05-31-23 |
| |
12.83 | | |
0.20 | • | |
(0.32 | ) | |
(0.12 | ) | |
0.22 | | |
0.46 | | |
— | | |
0.68 | | |
— | | |
12.03 | | |
(0.60 | ) | |
0.25 | | |
0.21 | | |
0.21 | | |
1.68 | | |
640 | | |
98 | |
| 05-31-22 |
| |
16.17 | | |
0.28 | • | |
(1.04 | ) | |
(0.76 | ) | |
0.39 | | |
2.19 | | |
— | | |
2.58 | | |
— | | |
12.83 | | |
(6.75 | ) | |
0.23 | | |
0.23 | | |
0.23 | | |
1.87 | | |
353 | | |
61 | |
| 05-31-21 |
| |
12.12 | | |
0.17 | • | |
4.42 | | |
4.59 | | |
0.24 | | |
0.30 | | |
— | | |
0.54 | | |
— | | |
16.17 | | |
38.37 | | |
0.42 | | |
0.42 | | |
0.42 | | |
1.16 | | |
51 | | |
112 | |
| 05-31-20 |
| |
11.90 | | |
0.27 | • | |
0.49 | | |
0.76 | | |
0.19 | | |
0.35 | | |
— | | |
0.54 | | |
— | | |
12.12 | | |
6.07 | | |
0.45 | | |
0.45 | | |
0.45 | | |
2.13 | | |
32 | | |
101 | |
| Class
R |
| 11-30-24+ |
| |
13.89 | | |
0.05 | • | |
1.22 | | |
1.27 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.16 | | |
9.14 | | |
0.77 | | |
0.68 | | |
0.68 | | |
0.63 | | |
7,076 | | |
11 | |
| 05-31-24 |
| |
11.86 | | |
0.32 | • | |
1.98 | | |
2.30 | | |
0.27 | | |
— | | |
— | | |
0.27 | | |
— | | |
13.89 | | |
19.51 | | |
0.76 | | |
0.68 | | |
0.68 | | |
2.42 | | |
6,161 | | |
48 | |
| 05-31-23 |
| |
12.68 | | |
0.17 | • | |
(0.34 | ) | |
(0.17 | ) | |
0.19 | | |
0.46 | | |
— | | |
0.65 | | |
— | | |
11.86 | | |
(1.07 | ) | |
0.78 | | |
0.74 | | |
0.74 | | |
1.42 | | |
685 | | |
98 | |
| 05-31-22 |
| |
16.05 | | |
0.18 | • | |
(1.03 | ) | |
(0.85 | ) | |
0.33 | | |
2.19 | | |
— | | |
2.52 | | |
— | | |
12.68 | | |
(7.33 | ) | |
0.77 | | |
0.77 | | |
0.77 | | |
1.20 | | |
26 | | |
61 | |
| 05-31-21 |
| |
12.06 | | |
0.09 | • | |
4.40 | | |
4.49 | | |
0.20 | | |
0.30 | | |
— | | |
0.50 | | |
— | | |
16.05 | | |
37.70 | | |
0.96 | | |
0.96 | | |
0.96 | | |
0.62 | | |
13 | | |
112 | |
| 05-31-20 |
| |
11.84 | | |
0.16 | | |
0.54 | | |
0.70 | | |
0.13 | | |
0.35 | | |
— | | |
0.48 | | |
— | | |
12.06 | | |
5.59 | | |
0.99 | | |
0.99 | | |
0.99 | | |
1.29 | | |
3 | | |
101 | |
| Class
R6 |
| 11-30-24+ |
| |
14.16 | | |
0.09 | • | |
1.25 | | |
1.34 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.50 | | |
9.46 | | |
0.20 | | |
0.11 | | |
0.11 | | |
1.21 | | |
90,265 | | |
11 | |
| 05-31-24 |
| |
12.03 | | |
0.31 | • | |
2.11 | | |
2.42 | | |
0.29 | | |
— | | |
— | | |
0.29 | | |
— | | |
14.16 | | |
20.25 | | |
0.18 | | |
0.10 | | |
0.10 | | |
2.37 | | |
79,670 | | |
48 | |
| 05-31-23 |
| |
12.83 | | |
0.24 | • | |
(0.36 | ) | |
(0.12 | ) | |
0.22 | | |
0.46 | | |
— | | |
0.68 | | |
— | | |
12.03 | | |
(0.56 | ) | |
0.19 | | |
0.17 | | |
0.17 | | |
2.01 | | |
60,216 | | |
98 | |
| 05-31-22 |
| |
16.18 | | |
0.26 | • | |
(1.03 | ) | |
(0.77 | ) | |
0.39 | | |
2.19 | | |
— | | |
2.58 | | |
— | | |
12.83 | | |
(6.80 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.71 | | |
50,600 | | |
61 | |
| 05-31-21 |
| |
12.12 | | |
0.18 | • | |
4.43 | | |
4.61 | | |
0.25 | | |
0.30 | | |
— | | |
0.55 | | |
— | | |
16.18 | | |
38.51 | | |
0.38 | | |
0.38 | | |
0.38 | | |
1.24 | | |
28,811 | | |
112 | |
| 05-31-20 |
| |
11.89 | | |
0.21 | | |
0.57 | | |
0.78 | | |
0.20 | | |
0.35 | | |
— | | |
0.55 | | |
— | | |
12.12 | | |
6.20 | | |
0.41 | | |
0.41 | | |
0.41 | | |
1.86 | | |
17,929 | | |
101 | |
See
Accompanying Notes to Financial Statements
FINANCIAL
HIGHLIGHTS (continued)
| |
| |
| | |
Income
(loss)
from investment
operations | | |
| | |
Less
Distributions | | |
| | |
| | |
| | |
| | |
Ratios
to average net assets | | |
Supplemental
Data | |
| |
| |
Net
asset
value,
beginning
of year
or period | | |
Net
investment
income
(loss) | | |
Net
realized
and
unrealized
gain
(loss) | | |
Total
from
investment
operations | | |
From
net
investment
income | | |
From
net
realized
gains | | |
From
return of
capital | | |
Total
distributions | | |
Payment
by
affiliate | | |
Net
asset
value,
end of
year or
period | | |
Total
Return(1) | | |
Expenses
before
reductions/
additions
(2)(3)(4) | | |
Expenses
net
of
fee
waivers
and/or
recoupments
if
any
(2)(3)(4) | | |
Expenses
net of all
reductions/
additions
(2)(3)(4) | | |
Net
investment
income
(loss)
(2)(3)(4)(5) | | |
Net
assets,
end of
year or
period | | |
Portfolio
turnover
rate | |
Year or
period ended |
| |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
($000’s) | | |
(%) | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Voya
Target Retirement 2045 Fund |
| Class
A |
| 11-30-24+ | |
| 14.11 | | |
0.02 | • | |
1.35 | | |
1.37 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.48 | | |
9.71 | | |
0.49 | | |
0.41 | | |
0.41 | | |
0.20 | | |
68,102 | | |
26 | |
| 05-31-24 | |
| 11.82 | | |
0.22 | • | |
2.28 | | |
2.50 | | |
0.21 | | |
— | | |
— | | |
0.21 | | |
— | | |
14.11 | | |
21.24 | | |
0.52 | | |
0.45 | | |
0.45 | | |
1.75 | | |
7,692 | | |
46 | |
| 05-31-23 | |
| 12.58 | | |
0.17 | • | |
(0.29 | ) | |
(0.12 | ) | |
0.18 | | |
0.46 | | |
— | | |
0.64 | | |
— | | |
11.82 | | |
(0.65 | ) | |
0.57 | | |
0.53 | | |
0.53 | | |
1.45 | | |
12,963 | | |
96 | |
| 05-31-22 | |
| 16.56 | | |
0.20 | • | |
(0.93 | ) | |
(0.73 | ) | |
0.36 | | |
2.89 | | |
— | | |
3.25 | | |
— | | |
12.58 | | |
(6.95 | ) | |
0.55 | | |
0.55 | | |
0.55 | | |
1.30 | | |
7,739 | | |
57 | |
| 05-31-21 | |
| 12.13 | | |
0.11 | • | |
4.78 | | |
4.89 | | |
0.19 | | |
0.27 | | |
— | | |
0.46 | | |
— | | |
16.56 | | |
40.67 | | |
0.74 | | |
0.74 | | |
0.74 | | |
0.78 | | |
6,396 | | |
115 | |
| 05-31-20 | |
| 12.01 | | |
0.20 | • | |
0.52 | | |
0.72 | | |
0.18 | | |
0.42 | | |
— | | |
0.60 | | |
— | | |
12.13 | | |
5.61 | | |
0.76 | | |
0.76 | | |
0.76 | | |
1.59 | | |
3,535 | | |
101 | |
| Class
I |
| 11-30-24+ | |
| 14.21 | | |
0.07 | • | |
1.34 | | |
1.41 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.62 | | |
9.92 | | |
0.24 | | |
0.12 | | |
0.12 | | |
0.90 | | |
13,107 | | |
26 | |
| 05-31-24 | |
| 11.92 | | |
0.29 | • | |
2.27 | | |
2.56 | | |
0.27 | | |
— | | |
— | | |
0.27 | | |
— | | |
14.21 | | |
21.62 | | |
0.23 | | |
0.11 | | |
0.11 | | |
2.20 | | |
11,465 | | |
46 | |
| 05-31-23 | |
| 12.68 | | |
0.17 | • | |
(0.25 | ) | |
(0.08 | ) | |
0.22 | | |
0.46 | | |
— | | |
0.68 | | |
— | | |
11.92 | | |
(0.28 | ) | |
0.23 | | |
0.16 | | |
0.16 | | |
1.40 | | |
856 | | |
96 | |
| 05-31-22 | |
| 16.67 | | |
0.27 | • | |
(0.96 | ) | |
(0.69 | ) | |
0.41 | | |
2.89 | | |
— | | |
3.30 | | |
— | | |
12.68 | | |
(6.67 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.76 | | |
272 | | |
57 | |
| 05-31-21 | |
| 12.19 | | |
0.19 | • | |
4.78 | | |
4.97 | | |
0.22 | | |
0.27 | | |
— | | |
0.49 | | |
— | | |
16.67 | | |
41.21 | | |
0.40 | | |
0.40 | | |
0.40 | | |
1.27 | | |
231 | | |
115 | |
| 05-31-20 | |
| 12.06 | | |
0.27 | • | |
0.48 | | |
0.75 | | |
0.20 | | |
0.42 | | |
— | | |
0.62 | | |
— | | |
12.19 | | |
5.88 | | |
0.44 | | |
0.44 | | |
0.44 | | |
2.11 | | |
27 | | |
101 | |
| Class
R |
| 11-30-24+ | |
| 13.95 | | |
0.03 | • | |
1.31 | | |
1.34 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.29 | | |
9.61 | | |
0.74 | | |
0.66 | | |
0.66 | | |
0.37 | | |
4,193 | | |
26 | |
| 05-31-24 | |
| 11.77 | | |
0.32 | • | |
2.11 | | |
2.43 | | |
0.25 | | |
— | | |
— | | |
0.25 | | |
— | | |
13.95 | | |
20.83 | | |
0.77 | | |
0.70 | | |
0.70 | | |
2.40 | | |
3,601 | | |
46 | |
| 05-31-23 | |
| 12.57 | | |
0.15 | • | |
(0.31 | ) | |
(0.16 | ) | |
0.18 | | |
0.46 | | |
— | | |
0.64 | | |
— | | |
11.77 | | |
(0.95 | ) | |
0.82 | | |
0.78 | | |
0.78 | | |
1.24 | | |
214 | | |
96 | |
| 05-31-22 | |
| 16.55 | | |
0.16 | • | |
(0.94 | ) | |
(0.78 | ) | |
0.31 | | |
2.89 | | |
— | | |
3.20 | | |
— | | |
12.57 | | |
(7.23 | ) | |
0.80 | | |
0.80 | | |
0.80 | | |
1.08 | | |
6 | | |
57 | |
| 05-31-21 | |
| 12.12 | | |
0.08 | • | |
4.77 | | |
4.85 | | |
0.15 | | |
0.27 | | |
— | | |
0.42 | | |
— | | |
16.55 | | |
40.39 | | |
0.99 | | |
0.99 | | |
0.99 | | |
0.53 | | |
6 | | |
115 | |
| 05-31-20 | |
| 11.99 | | |
0.14 | | |
0.54 | | |
0.68 | | |
0.13 | | |
0.42 | | |
— | | |
0.55 | | |
— | | |
12.12 | | |
5.34 | | |
1.01 | | |
1.01 | | |
1.01 | | |
1.08 | | |
4 | | |
101 | |
| Class R6 |
| 11-30-24+ | |
| 14.21 | | |
0.07 | • | |
1.34 | | |
1.41 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.62 | | |
9.92 | | |
0.19 | | |
0.11 | | |
0.11 | | |
0.90 | | |
109,046 | | |
26 | |
| 05-31-24 | |
| 11.92 | | |
0.29 | • | |
2.27 | | |
2.56 | | |
0.27 | | |
— | | |
— | | |
0.27 | | |
— | | |
14.21 | | |
21.64 | | |
0.18 | | |
0.11 | | |
0.11 | | |
2.26 | | |
92,801 | | |
46 | |
| 05-31-23 | |
| 12.69 | | |
0.23 | • | |
(0.32 | ) | |
(0.09 | ) | |
0.22 | | |
0.46 | | |
— | | |
0.68 | | |
— | | |
11.92 | | |
(0.36 | ) | |
0.18 | | |
0.17 | | |
0.17 | | |
1.96 | | |
66,960 | | |
96 | |
| 05-31-22 | |
| 16.67 | | |
0.24 | • | |
(0.92 | ) | |
(0.68 | ) | |
0.41 | | |
2.89 | | |
— | | |
3.30 | | |
— | | |
12.69 | | |
(6.60 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.59 | | |
56,301 | | |
57 | |
| 05-31-21 | |
| 12.19 | | |
0.16 | • | |
4.82 | | |
4.98 | | |
0.23 | | |
0.27 | | |
— | | |
0.50 | | |
— | | |
16.67 | | |
41.23 | | |
0.38 | | |
0.38 | | |
0.38 | | |
1.11 | | |
33,633 | | |
115 | |
| 05-31-20 | |
| 12.05 | | |
0.22 | | |
0.55 | | |
0.77 | | |
0.21 | | |
0.42 | | |
— | | |
0.63 | | |
— | | |
12.19 | | |
5.98 | | |
0.41 | | |
0.41 | | |
0.41 | | |
1.74 | | |
20,314 | | |
101 | |
| Voya
Target Retirement 2050 Fund |
| Class
A |
| 11-30-24+ | |
| 14.20 | | |
0.03 | • | |
1.39 | | |
1.42 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.62 | | |
10.00 | | |
0.50 | | |
0.42 | | |
0.42 | | |
0.44 | | |
7,016 | | |
13 | |
| 05-31-24 | |
| 11.81 | | |
0.18 | • | |
2.39 | | |
2.57 | | |
0.18 | | |
— | | |
— | | |
0.18 | | |
— | | |
14.20 | | |
21.84 | | |
0.53 | | |
0.46 | | |
0.46 | | |
1.41 | | |
5,510 | | |
40 | |
| 05-31-23 | |
| 12.62 | | |
0.16 | • | |
(0.28 | ) | |
(0.12 | ) | |
0.18 | | |
0.51 | | |
— | | |
0.69 | | |
— | | |
11.81 | | |
(0.63 | ) | |
0.57 | | |
0.52 | | |
0.52 | | |
1.38 | | |
10,477 | | |
97 | |
| 05-31-22 | |
| 16.36 | | |
0.19 | • | |
(0.98 | ) | |
(0.79 | ) | |
0.38 | | |
2.57 | | |
— | | |
2.95 | | |
— | | |
12.62 | | |
(7.26 | ) | |
0.54 | | |
0.54 | | |
0.54 | | |
1.28 | | |
7,734 | | |
58 | |
| 05-31-21 | |
| 11.83 | | |
0.11 | • | |
4.71 | | |
4.82 | | |
0.17 | | |
0.12 | | |
— | | |
0.29 | | |
— | | |
16.36 | | |
40.98 | | |
0.74 | | |
0.74 | | |
0.74 | | |
0.78 | | |
7,243 | | |
110 | |
| 05-31-20 | |
| 11.74 | | |
0.18 | • | |
0.51 | | |
0.69 | | |
0.17 | | |
0.43 | | |
— | | |
0.60 | | |
— | | |
11.83 | | |
5.44 | | |
0.77 | | |
0.78 | | |
0.78 | | |
1.52 | | |
4,589 | | |
98 | |
| Class
I |
| 11-30-24+ | |
| 14.28 | | |
0.05 | • | |
1.40 | | |
1.45 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.73 | | |
10.15 | | |
0.26 | | |
0.16 | | |
0.16 | | |
0.70 | | |
10,564 | | |
13 | |
| 05-31-24 | |
| 11.91 | | |
0.26 | • | |
2.36 | | |
2.62 | | |
0.25 | | |
— | | |
— | | |
0.25 | | |
— | | |
14.28 | | |
22.16 | | |
0.26 | | |
0.14 | | |
0.14 | | |
1.95 | | |
9,378 | | |
40 | |
| 05-31-23 | |
| 12.71 | | |
0.15 | • | |
(0.22 | ) | |
(0.07 | ) | |
0.22 | | |
0.51 | | |
— | | |
0.73 | | |
— | | |
11.91 | | |
(0.21 | ) | |
0.26 | | |
0.19 | | |
0.19 | | |
1.29 | | |
1,013 | | |
97 | |
| 05-31-22 | |
| 16.45 | | |
0.25 | • | |
(1.00 | ) | |
(0.75 | ) | |
0.42 | | |
2.57 | | |
— | | |
2.99 | | |
— | | |
12.71 | | |
(6.97 | ) | |
0.22 | | |
0.22 | | |
0.22 | | |
1.60 | | |
471 | | |
58 | |
| 05-31-21 | |
| 11.90 | | |
0.17 | • | |
4.70 | | |
4.87 | | |
0.20 | | |
0.12 | | |
— | | |
0.32 | | |
— | | |
16.45 | | |
41.25 | | |
0.41 | | |
0.41 | | |
0.41 | | |
1.15 | | |
451 | | |
110 | |
| 05-31-20 | |
| 11.78 | | |
0.21 | | |
0.53 | | |
0.74 | | |
0.19 | | |
0.43 | | |
— | | |
0.62 | | |
— | | |
11.90 | | |
5.86 | | |
0.45 | | |
0.46 | | |
0.46 | | |
1.69 | | |
149 | | |
98 | |
| Class
R |
| 11-30-24+ | |
| 14.02 | | |
0.01 | • | |
1.38 | | |
1.39 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.41 | | |
9.92 | | |
0.75 | | |
0.67 | | |
0.67 | | |
0.19 | | |
5,376 | | |
13 | |
| 05-31-24 | |
| 11.75 | | |
0.29 | • | |
2.21 | | |
2.50 | | |
0.23 | | |
— | | |
— | | |
0.23 | | |
— | | |
14.02 | | |
21.43 | | |
0.78 | | |
0.71 | | |
0.71 | | |
2.21 | | |
5,063 | | |
40 | |
| 05-31-23 | |
| 12.59 | | |
0.14 | • | |
(0.29 | ) | |
(0.15 | ) | |
0.18 | | |
0.51 | | |
— | | |
0.69 | | |
— | | |
11.75 | | |
(0.91 | ) | |
0.82 | | |
0.77 | | |
0.77 | | |
1.21 | | |
704 | | |
97 | |
| 05-31-22 | |
| 16.32 | | |
0.15 | • | |
(0.98 | ) | |
(0.83 | ) | |
0.33 | | |
2.57 | | |
— | | |
2.90 | | |
— | | |
12.59 | | |
(7.52 | ) | |
0.79 | | |
0.79 | | |
0.79 | | |
0.98 | | |
131 | | |
58 | |
| 05-31-21 | |
| 11.79 | | |
0.06 | • | |
4.70 | | |
4.76 | | |
0.11 | | |
0.12 | | |
— | | |
0.23 | | |
— | | |
16.32 | | |
40.61 | | |
0.99 | | |
0.99 | | |
0.99 | | |
0.43 | | |
155 | | |
110 | |
See
Accompanying Notes to Financial Statements
FINANCIAL
HIGHLIGHTS (continued)
| |
| |
| | |
Income
(loss)
from investment
operations | | |
| | |
Less
Distributions | | |
| | |
| | |
| | |
| | |
Ratios
to average net assets | | |
Supplemental
Data | |
| |
| |
Net
asset
value,
beginning
of year
or period | | |
Net
investment
income
(loss) | | |
Net
realized
and
unrealized
gain
(loss) | | |
Total
from
investment
operations | | |
From
net
investment
income | | |
From
net
realized
gains | | |
From
return of
capital | | |
Total
distributions | | |
Payment
by
affiliate | | |
Net
asset
value,
end of
year or
period | | |
Total
Return(1) | | |
Expenses
before
reductions/
additions
(2)(3)(4) | | |
Expenses
net
of
fee
waivers
and/or
recoupments
if
any
(2)(3)(4) | | |
Expenses
net of all
reductions/
additions
(2)(3)(4) | | |
Net
investment
income
(loss)
(2)(3)(4)(5) | | |
Net
assets,
end of
year or
period | | |
Portfolio
turnover
rate | |
Year or
period ended |
| |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
($000’s) | | |
(%) | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Voya Target Retirement 2050 Fund (continued) |
| Class R (continued) |
| 05-31-20 | |
| 11.72 | | |
0.16 | • | |
0.51 | | |
0.67 | | |
0.17 | | |
0.43 | | |
— | | |
0.60 | | |
— | | |
11.79 | | |
5.29 | | |
1.02 | | |
1.03 | | |
1.03 | | |
1.32 | | |
153 | | |
98 | |
| Class R6 |
| 11-30-24+ | |
| 14.28 | | |
0.06 | • | |
1.39 | | |
1.45 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.73 | | |
10.15 | | |
0.20 | | |
0.12 | | |
0.12 | | |
0.73 | | |
75,539 | | |
13 | |
| 05-31-24 | |
| 11.91 | | |
0.27 | • | |
2.35 | | |
2.62 | | |
0.25 | | |
— | | |
— | | |
0.25 | | |
— | | |
14.28 | | |
22.19 | | |
0.18 | | |
0.11 | | |
0.11 | | |
2.08 | | |
64,572 | | |
40 | |
| 05-31-23 | |
| 12.72 | | |
0.22 | • | |
(0.30 | ) | |
(0.08 | ) | |
0.22 | | |
0.51 | | |
— | | |
0.73 | | |
— | | |
11.91 | | |
(0.25 | ) | |
0.19 | | |
0.17 | | |
0.17 | | |
1.89 | | |
46,614 | | |
97 | |
| 05-31-22 | |
| 16.46 | | |
0.23 | • | |
(0.97 | ) | |
(0.74 | ) | |
0.43 | | |
2.57 | | |
— | | |
3.00 | | |
— | | |
12.72 | | |
(6.93 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.54 | | |
38,536 | | |
58 | |
| 05-31-21 | |
| 11.89 | | |
0.15 | • | |
4.74 | | |
4.89 | | |
0.20 | | |
0.12 | | |
— | | |
0.32 | | |
— | | |
16.46 | | |
41.48 | | |
0.38 | | |
0.38 | | |
0.38 | | |
1.05 | | |
22,567 | | |
110 | |
| 05-31-20 | |
| 11.77 | | |
0.21 | | |
0.54 | | |
0.75 | | |
0.20 | | |
0.43 | | |
— | | |
0.63 | | |
— | | |
11.89 | | |
5.90 | | |
0.42 | | |
0.43 | | |
0.43 | | |
1.68 | | |
11,838 | | |
98 | |
| Voya Target Retirement
2055 Fund |
| Class A |
| 11-30-24+ | |
| 13.88 | | |
(0.00 | )*• | |
1.39 | | |
1.39 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.27 | | |
10.01 | | |
0.61 | | |
0.51 | | |
0.51 | | |
(0.05 | ) | |
46,875 | | |
25 | |
| 05-31-24 | |
| 11.55 | | |
0.19 | • | |
2.32 | | |
2.51 | | |
0.18 | | |
— | | |
— | | |
0.18 | | |
— | | |
13.88 | | |
21.87 | | |
0.61 | | |
0.51 | | |
0.51 | | |
1.48 | | |
6,368 | | |
44 | |
| 05-31-23 | |
| 12.28 | | |
0.15 | • | |
(0.26 | ) | |
(0.11 | ) | |
0.18 | | |
0.44 | | |
— | | |
0.62 | | |
— | | |
11.55 | | |
(0.57 | ) | |
0.65 | | |
0.57 | | |
0.57 | | |
1.29 | | |
8,657 | | |
103 | |
| 05-31-22 | |
| 16.35 | | |
0.18 | • | |
(0.95 | ) | |
(0.77 | ) | |
0.36 | | |
2.94 | | |
— | | |
3.30 | | |
— | | |
12.28 | | |
(7.40 | ) | |
0.60 | | |
0.60 | | |
0.60 | | |
1.23 | | |
4,360 | | |
49 | |
| 05-31-21 | |
| 11.79 | | |
0.11 | • | |
4.74 | | |
4.85 | | |
0.16 | | |
0.13 | | |
— | | |
0.29 | | |
— | | |
16.35 | | |
41.43 | | |
0.78 | | |
0.78 | | |
0.78 | | |
0.74 | | |
3,895 | | |
116 | |
| 05-31-20 | |
| 11.85 | | |
0.16 | | |
0.57 | | |
0.73 | | |
0.18 | | |
0.61 | | |
— | | |
0.79 | | |
— | | |
11.79 | | |
5.55 | | |
0.76 | | |
0.77 | | |
0.77 | | |
1.40 | | |
2,779 | | |
112 | |
| Class I |
| 11-30-24+ | |
| 13.99 | | |
0.05 | • | |
1.38 | | |
1.43 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.42 | | |
10.22 | | |
0.25 | | |
0.16 | | |
0.16 | | |
0.62 | | |
11,883 | | |
25 | |
| 05-31-24 | |
| 11.64 | | |
0.26 | • | |
2.33 | | |
2.59 | | |
0.24 | | |
— | | |
— | | |
0.24 | | |
— | | |
13.99 | | |
22.39 | | |
0.24 | | |
0.16 | | |
0.16 | | |
2.01 | | |
10,022 | | |
44 | |
| 05-31-23 | |
| 12.38 | | |
0.17 | • | |
(0.25 | ) | |
(0.08 | ) | |
0.22 | | |
0.44 | | |
— | | |
0.66 | | |
— | | |
11.64 | | |
(0.31 | ) | |
0.22 | | |
0.20 | | |
0.20 | | |
1.44 | | |
686 | | |
103 | |
| 05-31-22 | |
| 16.45 | | |
0.24 | • | |
(0.95 | ) | |
(0.71 | ) | |
0.42 | | |
2.94 | | |
— | | |
3.36 | | |
— | | |
12.38 | | |
(7.03 | ) | |
0.24 | | |
0.24 | | |
0.24 | | |
1.58 | | |
341 | | |
49 | |
| 05-31-21 | |
| 11.85 | | |
0.17 | • | |
4.76 | | |
4.93 | | |
0.20 | | |
0.13 | | |
— | | |
0.33 | | |
— | | |
16.45 | | |
41.89 | | |
0.41 | | |
0.41 | | |
0.41 | | |
1.14 | | |
349 | | |
116 | |
| 05-31-20 | |
| 11.89 | | |
0.21 | | |
0.57 | | |
0.78 | | |
0.21 | | |
0.61 | | |
— | | |
0.82 | | |
— | | |
11.85 | | |
5.96 | | |
0.42 | | |
0.43 | | |
0.43 | | |
1.69 | | |
88 | | |
112 | |
| Class R |
| 11-30-24+ | |
| 13.65 | | |
0.00 | *• | |
1.35 | | |
1.35 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.00 | | |
9.89 | | |
0.86 | | |
0.76 | | |
0.76 | | |
0.03 | | |
3,666 | | |
25 | |
| 05-31-24 | |
| 11.42 | | |
0.25 | • | |
2.20 | | |
2.45 | | |
0.22 | | |
— | | |
— | | |
0.22 | | |
— | | |
13.65 | | |
21.59 | | |
0.86 | | |
0.76 | | |
0.76 | | |
1.94 | | |
3,065 | | |
44 | |
| 05-31-23 | |
| 12.18 | | |
0.13 | • | |
(0.27 | ) | |
(0.14 | ) | |
0.18 | | |
0.44 | | |
— | | |
0.62 | | |
— | | |
11.42 | | |
(0.83 | ) | |
0.90 | | |
0.82 | | |
0.82 | | |
1.14 | | |
412 | | |
103 | |
| 05-31-22 | |
| 16.26 | | |
0.13 | • | |
(0.92 | ) | |
(0.79 | ) | |
0.35 | | |
2.94 | | |
— | | |
3.29 | | |
— | | |
12.18 | | |
(7.60 | ) | |
0.85 | | |
0.85 | | |
0.85 | | |
0.91 | | |
50 | | |
49 | |
| 05-31-21 | |
| 11.76 | | |
0.06 | • | |
4.72 | | |
4.78 | | |
0.15 | | |
0.13 | | |
— | | |
0.28 | | |
— | | |
16.26 | | |
40.94 | | |
1.03 | | |
1.03 | | |
1.03 | | |
0.40 | | |
28 | | |
116 | |
| 05-31-20 | |
| 11.83 | | |
0.12 | • | |
0.58 | | |
0.70 | | |
0.16 | | |
0.61 | | |
— | | |
0.77 | | |
— | | |
11.76 | | |
5.32 | | |
1.01 | | |
1.02 | | |
1.02 | | |
0.98 | | |
10 | | |
112 | |
| Class R6 |
| 11-30-24+ | |
| 13.98 | | |
0.05 | • | |
1.39 | | |
1.44 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
15.42 | | |
10.30 | | |
0.20 | | |
0.12 | | |
0.12 | | |
0.65 | | |
70,731 | | |
25 | |
| 05-31-24 | |
| 11.64 | | |
0.26 | • | |
2.32 | | |
2.58 | | |
0.24 | | |
— | | |
— | | |
0.24 | | |
— | | |
13.98 | | |
22.34 | | |
0.18 | | |
0.11 | | |
0.11 | | |
2.04 | | |
56,714 | | |
44 | |
| 05-31-23 | |
| 12.38 | | |
0.23 | • | |
(0.31 | ) | |
(0.08 | ) | |
0.22 | | |
0.44 | | |
— | | |
0.66 | | |
— | | |
11.64 | | |
(0.25 | ) | |
0.19 | | |
0.17 | | |
0.17 | | |
1.95 | | |
38,019 | | |
103 | |
| 05-31-22 | |
| 16.45 | | |
0.23 | • | |
(0.93 | ) | |
(0.70 | ) | |
0.43 | | |
2.94 | | |
— | | |
3.37 | | |
— | | |
12.38 | | |
(6.99 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.53 | | |
30,690 | | |
49 | |
| 05-31-21 | |
| 11.84 | | |
0.15 | • | |
4.79 | | |
4.94 | | |
0.20 | | |
0.13 | | |
— | | |
0.33 | | |
— | | |
16.45 | | |
42.02 | | |
0.38 | | |
0.38 | | |
0.38 | | |
1.03 | | |
18,329 | | |
116 | |
| 05-31-20 | |
| 11.89 | | |
0.20 | • | |
0.57 | | |
0.77 | | |
0.21 | | |
0.61 | | |
— | | |
0.82 | | |
— | | |
11.84 | | |
5.88 | | |
0.42 | | |
0.43 | | |
0.43 | | |
1.62 | | |
11,057 | | |
112 | |
| Voya Target Retirement
2060 Fund |
| Class A |
| 11-30-24+ | |
| 12.91 | | |
0.02 | • | |
1.28 | | |
1.30 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
14.21 | | |
10.07 | | |
0.65 | | |
0.51 | | |
0.51 | | |
0.27 | | |
4,970 | | |
13 | |
| 05-31-24 | |
| 10.74 | | |
0.18 | • | |
2.16 | | |
2.34 | | |
0.17 | | |
— | | |
— | | |
0.17 | | |
— | | |
12.91 | | |
21.88 | | |
0.64 | | |
0.50 | | |
0.50 | | |
1.53 | | |
4,521 | | |
42 | |
| 05-31-23 | |
| 11.60 | | |
0.14 | • | |
(0.26 | ) | |
(0.12 | ) | |
0.17 | | |
0.57 | | |
— | | |
0.74 | | |
— | | |
10.74 | | |
(0.60 | ) | |
0.70 | | |
0.60 | | |
0.60 | | |
1.29 | | |
6,090 | | |
105 | |
| 05-31-22 | |
| 15.16 | | |
0.18 | • | |
(0.90 | ) | |
(0.72 | ) | |
0.33 | | |
2.51 | | |
— | | |
2.84 | | |
— | | |
11.60 | | |
(7.26 | ) | |
0.61 | | |
0.61 | | |
0.61 | | |
1.30 | | |
3,968 | | |
60 | |
| 05-31-21 | |
| 10.90 | | |
0.08 | • | |
4.46 | | |
4.54 | | |
0.15 | | |
0.13 | | |
— | | |
0.28 | | |
— | | |
15.16 | | |
41.89 | | |
0.77 | | |
0.77 | | |
0.77 | | |
0.61 | | |
4,667 | | |
110 | |
| 05-31-20 | |
| 10.89 | | |
0.15 | | |
0.51 | | |
0.66 | | |
0.15 | | |
0.50 | | |
— | | |
0.65 | | |
— | | |
10.90 | | |
5.61 | | |
0.78 | | |
0.80 | | |
0.80 | | |
1.38 | | |
2,803 | | |
109 | |
| Class I |
| 11-30-24+ | |
| 12.97 | | |
0.04 | • | |
1.30 | | |
1.34 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
14.31 | | |
10.33 | | |
0.26 | | |
0.13 | | |
0.13 | | |
0.63 | | |
2,752 | | |
13 | |
| 05-31-24 | |
| 10.80 | | |
0.24 | • | |
2.15 | | |
2.39 | | |
0.22 | | |
— | | |
— | | |
0.22 | | |
— | | |
12.97 | | |
22.32 | | |
0.24 | | |
0.10 | | |
0.10 | | |
2.00 | | |
2,158 | | |
42 | |
See
Accompanying Notes to Financial Statements
FINANCIAL
HIGHLIGHTS (continued)
| |
| |
| | |
Income
(loss)
from investment
operations | | |
| | |
Less
Distributions | | |
| | |
| | |
| | |
| | |
Ratios
to average net assets | | |
Supplemental
Data | |
| |
| |
Net
asset
value,
beginning
of year
or period | | |
Net
investment
income
(loss) | | |
Net
realized
and
unrealized
gain
(loss) | | |
Total
from
investment
operations | | |
From
net
investment
income | | |
From
net
realized
gains | | |
From
return of
capital | | |
Total
distributions | | |
Payment
by
affiliate | | |
Net
asset
value,
end of
year or
period | | |
Total
Return(1) | | |
Expenses
before
reductions/
additions
(2)(3)(4) | | |
Expenses
net
of
fee
waivers
and/or
recoupments
if
any
(2)(3)(4) | | |
Expenses
net of all
reductions/
additions
(2)(3)(4) | | |
Net
investment
income
(loss)
(2)(3)(4)(5) | | |
Net
assets,
end of
year or
period | | |
Portfolio
turnover
rate | |
Year or
period ended |
| |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
($) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
(%) | | |
($000’s) | | |
(%) | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Voya
Target Retirement 2060 Fund (continued) |
| Class
I (continued) |
| 05-31-23 | |
| 11.66 | | |
0.11 | • | |
(0.19 | ) | |
(0.08 | ) | |
0.21 | | |
0.57 | | |
— | | |
0.78 | | |
— | | |
10.80 | | |
(0.21 | ) | |
0.24 | | |
0.17 | | |
0.17 | | |
0.99 | | |
252 | | |
105 | |
| 05-31-22 | |
| 15.23 | | |
0.30 | • | |
(0.97 | ) | |
(0.67 | ) | |
0.39 | | |
2.51 | | |
— | | |
2.90 | | |
— | | |
11.66 | | |
(6.93 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
2.04 | | |
52 | | |
60 | |
| 05-31-21 | |
| 10.93 | | |
0.14 | • | |
4.47 | | |
4.61 | | |
0.18 | | |
0.13 | | |
— | | |
0.31 | | |
— | | |
15.23 | | |
42.50 | | |
0.39 | | |
0.39 | | |
0.39 | | |
1.07 | | |
160 | | |
110 | |
| 05-31-20 | |
| 10.91 | | |
0.19 | | |
0.51 | | |
0.70 | | |
0.18 | | |
0.50 | | |
— | | |
0.68 | | |
— | | |
10.93 | | |
5.90 | | |
0.44 | | |
0.46 | | |
0.46 | | |
1.67 | | |
122 | | |
109 | |
| Class
R |
| 11-30-24+ | |
| 12.77 | | |
0.00 | *• | |
1.27 | | |
1.27 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
14.04 | | |
9.95 | | |
0.90 | | |
0.76 | | |
0.76 | | |
0.01 | | |
2,714 | | |
13 | |
| 05-31-24 | |
| 10.68 | | |
0.26 | • | |
2.04 | | |
2.30 | | |
0.21 | | |
— | | |
— | | |
0.21 | | |
— | | |
12.77 | | |
21.65 | | |
0.89 | | |
0.75 | | |
0.75 | | |
2.11 | | |
2,219 | | |
42 | |
| 05-31-23 | |
| 11.57 | | |
0.12 | • | |
(0.27 | ) | |
(0.15 | ) | |
0.17 | | |
0.57 | | |
— | | |
0.74 | | |
— | | |
10.68 | | |
(0.86 | ) | |
0.95 | | |
0.85 | | |
0.85 | | |
1.12 | | |
183 | | |
105 | |
| 05-31-22 | |
| 15.15 | | |
0.16 | • | |
(0.91 | ) | |
(0.75 | ) | |
0.32 | | |
2.51 | | |
— | | |
2.83 | | |
— | | |
11.57 | | |
(7.49 | ) | |
0.86 | | |
0.86 | | |
0.86 | | |
1.16 | | |
10 | | |
60 | |
| 05-31-21 | |
| 10.89 | | |
0.04 | • | |
4.45 | | |
4.49 | | |
0.10 | | |
0.13 | | |
— | | |
0.23 | | |
— | | |
15.15 | | |
41.45 | | |
1.02 | | |
1.02 | | |
1.02 | | |
0.27 | | |
9 | | |
110 | |
| 05-31-20 | |
| 10.88 | | |
0.12 | | |
0.52 | | |
0.64 | | |
0.13 | | |
0.50 | | |
— | | |
0.63 | | |
— | | |
10.89 | | |
5.37 | | |
1.03 | | |
1.05 | | |
1.05 | | |
1.05 | | |
6 | | |
109 | |
| Class R6 |
| 11-30-24+ | |
| 12.99 | | |
0.04 | • | |
1.30 | | |
1.34 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
14.33 | | |
10.32 | | |
0.20 | | |
0.11 | | |
0.11 | | |
0.65 | | |
45,536 | | |
13 | |
| 05-31-24 | |
| 10.81 | | |
0.24 | • | |
2.17 | | |
2.41 | | |
0.23 | | |
— | | |
— | | |
0.23 | | |
— | | |
12.99 | | |
22.43 | | |
0.18 | | |
0.10 | | |
0.10 | | |
2.04 | | |
36,216 | | |
42 | |
| 05-31-23 | |
| 11.67 | | |
0.20 | • | |
(0.28 | ) | |
(0.08 | ) | |
0.21 | | |
0.57 | | |
— | | |
0.78 | | |
— | | |
10.81 | | |
(0.19 | ) | |
0.19 | | |
0.17 | | |
0.17 | | |
1.87 | | |
22,187 | | |
105 | |
| 05-31-22 | |
| 15.24 | | |
0.21 | • | |
(0.88 | ) | |
(0.67 | ) | |
0.39 | | |
2.51 | | |
— | | |
2.90 | | |
— | | |
11.67 | | |
(6.92 | ) | |
0.19 | | |
0.19 | | |
0.19 | | |
1.53 | | |
16,991 | | |
60 | |
| 05-31-21 | |
| 10.94 | | |
0.13 | • | |
4.48 | | |
4.61 | | |
0.18 | | |
0.13 | | |
— | | |
0.31 | | |
— | | |
15.24 | | |
42.45 | | |
0.38 | | |
0.38 | | |
0.38 | | |
0.98 | | |
10,641 | | |
110 | |
| 05-31-20 | |
| 10.92 | | |
0.18 | | |
0.52 | | |
0.70 | | |
0.18 | | |
0.50 | | |
— | | |
0.68 | | |
— | | |
10.94 | | |
5.89 | | |
0.44 | | |
0.46 | | |
0.46 | | |
1.57 | | |
5,619 | | |
109 | |
| Voya
Target Retirement 2065 Fund |
| Class
A |
| 11-30-24+ | |
| 11.50 | | |
0.01 | • | |
1.15 | | |
1.16 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
12.66 | | |
10.09 | | |
0.47 | | |
0.37 | | |
0.37 | | |
0.24 | | |
4,214 | | |
17 | |
| 05-31-24 | |
| 9.55 | | |
0.18 | • | |
1.94 | | |
2.12 | | |
0.17 | | |
— | | |
— | | |
0.17 | | |
— | | |
11.50 | | |
22.37 | | |
0.45 | | |
0.37 | | |
0.37 | | |
1.74 | | |
1,813 | | |
61 | |
| 05-31-23 | |
| 10.09 | | |
0.14 | • | |
(0.22 | ) | |
(0.08 | ) | |
0.14 | | |
0.32 | | |
— | | |
0.46 | | |
— | | |
9.55 | | |
(0.44 | ) | |
0.46 | | |
0.43 | | |
0.43 | | |
1.46 | | |
1,386 | | |
90 | |
| 05-31-22 | |
| 12.89 | | |
0.16 | • | |
(0.79 | ) | |
(0.63 | ) | |
0.30 | | |
1.87 | | |
— | | |
2.17 | | |
— | | |
10.09 | | |
(7.12 | ) | |
0.46 | | |
0.46 | | |
0.46 | | |
1.34 | | |
1,246 | | |
38 | |
07-29-20(6)-
05-31-21 | |
| 10.00 | | |
0.08 | • | |
2.97 | | |
3.05 | | |
0.14 | | |
0.02 | | |
— | | |
0.16 | | |
— | | |
12.89 | | |
30.61 | | |
0.67 | | |
0.67 | | |
0.67 | | |
0.82 | | |
1,320 | | |
87 | |
| Class
I |
| 11-30-24+ | |
| 11.52 | | |
0.04 | • | |
1.14 | | |
1.18 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
12.70 | | |
10.24 | | |
0.22 | | |
0.12 | | |
0.12 | | |
0.60 | | |
419 | | |
17 | |
| 05-31-24 | |
| 9.57 | | |
0.18 | • | |
1.96 | | |
2.14 | | |
0.19 | | |
— | | |
— | | |
0.19 | | |
— | | |
11.52 | | |
22.57 | | |
0.20 | | |
0.12 | | |
0.12 | | |
1.72 | | |
336 | | |
61 | |
| 05-31-23 | |
| 10.11 | | |
0.14 | • | |
(0.19 | ) | |
(0.05 | ) | |
0.17 | | |
0.32 | | |
— | | |
0.49 | | |
— | | |
9.57 | | |
(0.20 | ) | |
0.24 | | |
0.21 | | |
0.21 | | |
1.46 | | |
114 | | |
90 | |
| 05-31-22 | |
| 12.91 | | |
0.19 | • | |
(0.79 | ) | |
(0.60 | ) | |
0.33 | | |
1.87 | | |
— | | |
2.20 | | |
— | | |
10.11 | | |
(6.90 | ) | |
0.23 | | |
0.23 | | |
0.23 | | |
1.56 | | |
71 | | |
38 | |
07-29-20(6)-
05-31-21 | |
| 10.00 | | |
0.10 | • | |
2.97 | | |
3.07 | | |
0.14 | | |
0.02 | | |
— | | |
0.16 | | |
— | | |
12.91 | | |
30.92 | | |
0.42 | | |
0.42 | | |
0.42 | | |
1.02 | | |
76 | | |
87 | |
| Class
R |
| 11-30-24+ | |
| 11.42 | | |
0.01 | • | |
1.13 | | |
1.14 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
12.56 | | |
9.98 | | |
0.72 | | |
0.62 | | |
0.62 | | |
0.10 | | |
168 | | |
17 | |
| 05-31-24 | |
| 9.50 | | |
0.13 | • | |
1.95 | | |
2.08 | | |
0.16 | | |
— | | |
— | | |
0.16 | | |
— | | |
11.42 | | |
21.98 | | |
0.70 | | |
0.62 | | |
0.62 | | |
1.23 | | |
129 | | |
61 | |
| 05-31-23 | |
| 10.06 | | |
0.12 | • | |
(0.22 | ) | |
(0.10 | ) | |
0.14 | | |
0.32 | | |
— | | |
0.46 | | |
— | | |
9.50 | | |
(0.66 | ) | |
0.71 | | |
0.68 | | |
0.68 | | |
1.29 | | |
45 | | |
90 | |
| 05-31-22 | |
| 12.88 | | |
0.09 | • | |
(0.76 | ) | |
(0.67 | ) | |
0.28 | | |
1.87 | | |
— | | |
2.15 | | |
— | | |
10.06 | | |
(7.40 | ) | |
0.71 | | |
0.71 | | |
0.71 | | |
0.74 | | |
10 | | |
38 | |
07-29-20(6)-
05-31-21 | |
| 10.00 | | |
0.05 | • | |
2.98 | | |
3.03 | | |
0.13 | | |
0.02 | | |
— | | |
0.15 | | |
— | | |
12.88 | | |
30.40 | | |
0.92 | | |
0.92 | | |
0.92 | | |
0.56 | | |
7 | | |
87 | |
| Class R6 |
| 11-30-24+ | |
| 11.52 | | |
0.04 | • | |
1.15 | | |
1.19 | | |
— | | |
— | | |
— | | |
— | | |
— | | |
12.71 | | |
10.33 | | |
0.20 | | |
0.10 | | |
0.10 | | |
0.61 | | |
17,164 | | |
17 | |
| 05-31-24 | |
| 9.57 | | |
0.21 | • | |
1.94 | | |
2.15 | | |
0.20 | | |
— | | |
— | | |
0.20 | | |
— | | |
11.52 | | |
22.60 | | |
0.18 | | |
0.10 | | |
0.10 | | |
2.01 | | |
12,408 | | |
61 | |
| 05-31-23 | |
| 10.11 | | |
0.17 | • | |
(0.22 | ) | |
(0.05 | ) | |
0.17 | | |
0.32 | | |
— | | |
0.49 | | |
— | | |
9.57 | | |
(0.16 | ) | |
0.20 | | |
0.17 | | |
0.17 | | |
1.80 | | |
7,396 | | |
90 | |
| 05-31-22 | |
| 12.91 | | |
0.18 | • | |
(0.78 | ) | |
(0.60 | ) | |
0.33 | | |
1.87 | | |
— | | |
2.20 | | |
— | | |
10.11 | | |
(6.89 | ) | |
0.21 | | |
0.21 | | |
0.21 | | |
1.53 | | |
5,108 | | |
38 | |
07-29-20(6)-
05-31-21 | |
| 10.00 | | |
0.10 | • | |
2.97 | | |
3.07 | | |
0.14 | | |
0.02 | | |
— | | |
0.16 | | |
— | | |
12.91 | | |
30.92 | | |
0.42 | | |
0.42 | | |
0.42 | | |
1.05 | | |
4,032 | | |
87 | |
See
Accompanying Notes to Financial Statements
FINANCIAL
HIGHLIGHTS (continued)
| (1) |
Total
return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions,
if any, at net asset value and excluding the deduction of sales charges or contingent deferred sales charges, if applicable.
Total return for periods less than one year is not annualized. |
| (2) |
Annualized
for periods less than one year. |
| (3) |
Ratios
reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by
the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements
and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee
waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed
fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements.
Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of
all such additions or reductions. |
| (4) |
Ratios
do not include expenses of the Underlying Funds. |
| (5) |
Net
investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded
funds (“ETFs”). Net investment income (loss) of any underlying mutual funds or ETFs is not included in a Fund
net investment income (loss) ratio to average net assets. |
| (6) |
Commencement
of operations. |
| + |
Unaudited.
|
| • |
Calculated
using average number of shares outstanding throughout the year or period. |
| * |
Amount
is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
See
Accompanying Notes to Financial Statements
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited)
NOTE
1 — ORGANIZATION
Voya
Separate Portfolios Trust (the “Trust”) is a Delaware statutory trust and is registered as an open-end management
investment company under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust was organized on March
2, 2007 and was established under a Declaration of Trust dated March 2, 2007. It consists of fourteen separate active investment
series. The ten series (each, a “Fund” and collectively, the “Funds”) included in this report are: Voya
Target In-Retirement Fund (“In-Retirement”), Voya Target Retirement 2025 Fund (“Retirement 2025”), Voya
Target Retirement 2030 Fund (“Retirement 2030”), Voya Target Retirement 2035 Fund (“Retirement 2035”),
Voya Target Retirement 2040 Fund (“Retirement 2040”), Voya Target Retirement 2045 Fund (“Retirement 2045”),
Voya Target Retirement 2050 Fund (“Retirement 2050”), Voya Target Retirement 2055 Fund (“Retirement 2055”),
Voya Target Retirement 2060 Fund (“Retirement 2060”), and Voya Target Retirement 2065 Fund (“Retirement 2065”),
each a diversified series of the Trust.
Each
Fund offers the following classes of shares: Class A, Class I, Class R and Class R6. The separate classes of shares differ principally
in the applicable sales charges (if any), distribution fees (if any), shareholder servicing fees (if any) and transfer agency
fees, as well as differences in the amount of waiver of fees and reimbursement of expenses, if any. Generally, shareholders of
each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses
of a fund and earn income and realized gains/losses from a fund pro rata based on the daily ending net assets of each class, without
distinction between share classes. Expenses that are specific to a fund are charged directly to that fund. Other operating expenses
shared by several funds are generally allocated among those funds based on average net assets. Distributions are determined separately
for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro
rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally
result from differences in separate class expenses, including distribution and shareholder servicing fees, if applicable, as well
as differences in the amount of waiver of fees and reimbursement of expenses between the separate classes, if any.
Voya
Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company,
serves as the Investment Adviser to the Funds. Voya Investments has engaged Voya Investment Management Co. LLC (“Voya IM”
or the “Sub-Adviser”), a Delaware limited liability company, to serve as the Sub-Adviser to the Funds. Voya Investments
Distributor, LLC (“VID” or the
“Distributor”),
a Delaware limited liability company, serves as the principal underwriter to the Funds.
The
investment companies in which the Funds invest are collectively referred to as the “Underlying Funds.”
NOTE
2 — SIGNIFICANT ACCOUNTING POLICIES
The
Funds are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial
Accounting Standards Board ("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment
Companies.
The
following significant accounting policies are consistently followed by the Funds in the preparation of their financial statements.
Each Fund is considered an investment company under U.S. generally accepted accounting principles (“GAAP”) and follows
the accounting and reporting guidance applicable to investment companies.
A.
Security Valuation. Each Fund is open for business every day the New York Stock Exchange (“NYSE”) opens
for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each
class of each Fund is determined each Business Day as of the close of the regular trading session (“Market Close”),
as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded
securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each class of each Fund
is calculated by taking the value of the Fund’s assets attributable to that class, subtracting the Fund’s liabilities
attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Fund is closed
for business, Fund shares will not be priced and a Fund does not transact purchase and redemption orders. To the extent a Fund’s
assets are traded in other markets on days when a Fund does not price its shares, the value of a Fund’s assets will likely
change and you will not be able to purchase or redeem shares of a Fund.
Portfolio
securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment
companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered
investment companies in which each Fund may invest explain the circumstances under which they will use fair value pricing and
the effects of using fair value pricing. Foreign securities’ prices are converted into U.S. dollar amounts using the applicable
exchange rates as of Market Close.
When
a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been
halted or there are unexpected market closures
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
or
other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of
other Fund assets, the asset is priced at its fair value. The Board has designated the Investment Adviser, as the valuation designee,
to make fair value determinations in good faith. In determining the fair value of each Fund’s assets, the Investment Adviser,
pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Fund’s
sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of
the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith
determination of an asset’s fair value. Because trading hours for certain foreign securities end before Market Close, closing
market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent
pricing service that are intended to reflect valuation changes through the NYSE close. Because of the inherent uncertainties of
fair valuation, the values used to determine each Fund’s NAV may materially differ from the value received upon actual sale
of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’
investments in each Fund.
The
Funds’ financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date.
Various
valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following
fair value hierarchy that categorizes the inputs used to measure fair value:
Level
1 — quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting
date.
Level
2 — inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited
to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments
in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).
Level
3 — unobservable inputs (including the fund’s own assumptions in determining fair value).
Observable
inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect
the assumptions that market participants would use to price the financial instrument.
Unobservable
inputs are those for which market data are not available and are developed using the best information available about the assumptions
that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of
relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the
financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant
to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated
with financial instruments at that level but rather the degree of judgment used in determining those values.
A
table summarizing each Fund’s investments under these levels of classification is included within each Portfolio of Investments.
Each
investment asset or liability of a Fund is assigned a level at measurement date based on the significance and source of the inputs
to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other
than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable
inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant
would use in pricing an asset or liability, are classified as “Level 3.” The inputs used for valuing securities are
not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient
credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing each Fund’s
investments under these levels of classification is included within the Portfolio of Investments. The Funds classify each of their
investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments
held by the Underlying Funds.
GAAP
requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total
realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period.
A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Fund has a significant amount
of Level 3 investments.
B. Securities
Transactions and Revenue Recognition. Securities transactions are accounted for on the trade date. Realized gains and
losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual
basis. Dividend income is recorded, net of any applicable withholding tax, on the ex-dividend date, or for certain foreign
securities, when the information
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
becomes
available to the Funds. Premium amortization and discount accretion are determined by the effective yield method. Capital gain
dividends from Underlying Funds are recorded as capital gain distributions from affiliated Underlying Funds.
C.
Foreign Currency Translation. The books and records of the Funds are maintained in U.S. dollars. Any foreign currency
amounts are translated into U.S. dollars on the following basis:
| (1) | Market
value of investment securities, other assets and liabilities — at the exchange
rates prevailing at Market Close. |
| (2) | Purchases
and sales of investment securities, income and expenses — at the rates of exchange
prevailing on the respective dates of such transactions. |
Although
the net assets and the market values are presented at the foreign exchange rates at Market Close, the Funds do not isolate the
portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising
from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or
losses from investments.
Reported
net realized foreign exchange gains or losses arise from the difference between the amounts of foreign withholding tax reclaims
recorded on each Fund’s books, and the U.S. dollar equivalent of the amounts actually received. Net unrealized foreign exchange
gains and losses arise from changes in the value of foreign/withholding tax reclaim receivables, resulting from changes in the
exchange rate.
D.
Distributions to Shareholders. The Funds record distributions to their shareholders on the ex-dividend date. The
Funds declare and pay dividends and capital gain distributions, if any, at least annually to comply with the distribution requirements
of the Internal Revenue Code and may make distributions on a more frequent basis. The characteristics of income and gains to be
distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.
E.
Federal Income Taxes. It is the policy of each Fund to comply with the requirements of subchapter M of the Internal
Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income
and any net realized capital gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required.
Management has considered the sustainability of the Funds’ tax positions
taken
on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made
until the capital loss carryforwards have been fully utilized.
The
Funds may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions
of income or gain.
F.
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during
the reporting period. Actual results could differ from those estimates.
G.
Indemnifications. In the normal course of business, the Trust may enter into contracts that provide certain indemnifications.
The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and,
therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.
NOTE
3 — INVESTMENT TRANSACTIONS
For
the period ended November 30, 2024, the cost of purchases and the proceeds from the sales of investments were as follows:
| | |
Purchases | |
Sales | |
| In-Retirement | |
$ | 106,497,697 | |
$ | 46,030,652 | |
| Retirement 2025 | |
| 117,622,416 | |
| 50,128,953 | |
| Retirement 2030 | |
| 65,706,916 | |
| 31,195,576 | |
| Retirement 2035 | |
| 122,707,333 | |
| 45,047,231 | |
| Retirement 2040 | |
| 17,391,450 | |
| 12,758,644 | |
| Retirement 2045 | |
| 104,182,589 | |
| 37,690,320 | |
| Retirement 2050 | |
| 17,284,862 | |
| 11,775,783 | |
| Retirement 2055 | |
| 71,946,684 | |
| 23,876,050 | |
| Retirement 2060 | |
| 12,738,052 | |
| 6,644,421 | |
| Retirement 2065 | |
| 8,598,366 | |
| 2,950,713 | |
NOTE
4 — INVESTMENT MANAGEMENT FEES
The
Investment Adviser provides the Funds with advisory and administrative services under a management agreement (the “Bundled
Fee Agreement”). Pursuant to this Bundled Fee Agreement, the Investment Adviser is responsible for providing or procuring,
at the Investment Adviser’s expense, the services reasonably necessary for the ordinary operation of each Fund, including,
among other things, custodial, administrative, transfer agency (with the exception of fees paid for omnibus accounts or record
keeping services), fund accounting, auditing and ordinary legal expenses. This Bundled Fee Agreement compensates the Investment
Adviser with a management fee (a “unified fee”) equal to 0.18% of each Fund’s average daily net assets.
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
4 — INVESTMENT MANAGEMENT FEES (continued)
The
Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Fund. Voya IM provides investment
advice for the Funds and is paid by the Investment Adviser based on the average daily net assets of each respective Fund. Subject
to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Funds’ assets in accordance with
the Funds’ investment objectives, policies, and limitations.
NOTE
5 — DISTRIBUTION AND SERVICE FEES
Class
A and Class R shares of each Fund has a plan (each a “Plan” and collectively, the “Plans”), whereby the
Distributor is reimbursed or compensated (depending on the class of shares) by the Funds for expenses incurred in the distribution
of each Fund’s shares (“Distribution Fees”). Pursuant to the Plans, the Distributor is entitled to a payment
each month to reimburse or compensate expenses incurred in the distribution and promotion of each Fund’s shares, including
expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales
literature and other such distribution related expenses, including any distribution or shareholder servicing fees (“Service
Fees”) paid to securities dealers who have executed a distribution agreement with the Distributor. Under the Plans, Class
A shares and Class R shares of each Fund pay the Distributor a Distribution Fee and/or Service Fee based on average daily net
assets at a rate of 0.25% and 0.50%, respectively.
The
Distributor may also retain the proceeds of the initial sales charge paid by shareholders upon the purchase of Class A shares
of the Funds and the contingent deferred sales charge paid by shareholders upon certain redemptions for Class A shares. For the
period ended November 30, 2024, the Distributor retained the following amounts in sales charges:
| | |
Class A | |
| Initial Sales Charges: | |
| | |
| In-Retirement | |
$ | 272 | |
| Retirement 2025 | |
| 391 | |
| Retirement 2030 | |
| 2,048 | |
| Retirement 2035 | |
| 1,072 | |
| Retirement 2040 | |
| 1,016 | |
| Retirement 2045 | |
| 356 | |
| Retirement 2050 | |
| 420 | |
| Retirement 2055 | |
| 767 | |
| Retirement 2060 | |
| 507 | |
| Retirement 2065 | |
| 42 | |
| | |
| | |
| Contingent Deferred Sales Charges: | |
| | |
| Retirement 2060 | |
$ | 3 | |
NOTE
6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At
November 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the
following Funds:
| Subsidiary |
|
Fund |
|
Percentage |
| Voya
Institutional Trust Company |
|
In-Retirement |
|
67.29% |
| |
|
Retirement
2025 |
|
54.17 |
| |
|
Retirement
2030 |
|
36.27 |
| |
|
Retirement
2035 |
|
47.51 |
| |
|
Retirement
2040 |
|
16.07 |
| |
|
Retirement
2045 |
|
46.34 |
| |
|
Retirement
2050 |
|
22.94 |
| |
|
Retirement
2055 |
|
47.19 |
| |
|
Retirement
2060 |
|
23.73 |
| |
|
Retirement
2065 |
|
20.75 |
| Voya Investment Management Co. LLC |
|
Retirement
2065 |
|
29.98 |
| Voya Retirement Insurance and Annuity
Company |
|
In-Retirement |
|
19.88 |
| |
|
Retirement
2025 |
|
27.51 |
| |
|
Retirement
2030 |
|
35.63 |
| |
|
Retirement
2035 |
|
31.34 |
| |
|
Retirement
2040 |
|
50.03 |
| |
|
Retirement
2045 |
|
31.62 |
| |
|
Retirement
2050 |
|
44.72 |
| |
|
Retirement
2055 |
|
30.98 |
| |
|
Retirement
2060 |
|
51.46 |
| |
|
Retirement
2065 |
|
32.06 |
The
Funds have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent trustees, as described
in the DC Plan, to defer the receipt of all or a portion of the trustees’ fees that they are entitled to receive from the
Funds. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares
of the funds selected by the trustee (the “Notional Funds”). When the Funds purchase shares of the Notional Funds,
which are all advised by Voya Investments, in amounts equal to the trustees’ deferred fees, this results in a Fund asset
equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets”
on the accompanying Statements of Assets and Liabilities. Deferral of trustees’ fees under the DC Plan will not affect net
assets of the Funds, and will not materially affect the Funds’ assets, liabilities or net investment income per share. Amounts
will be deferred until distributed in accordance with the DC Plan.
The
Funds may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the
period ended November 30, 2024, the Funds did not pay any amounts for affiliated recordkeeping services.
NOTE
7 — EXPENSE LIMITATION AGREEMENTS
The
Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”)
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
7 — EXPENSE LIMITATION AGREEMENTS (continued)
with
the Funds whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage
expenses and extraordinary expenses to the levels listed below:
| Fund(1) |
|
Class
A |
|
Class
I |
|
Class
R |
|
Class
R6 |
| In-Retirement |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2025 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2030 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2035 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2040 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2045 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2050 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2055 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2060 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
| Retirement
2065 |
|
0.65% |
|
0.40% |
|
0.90% |
|
0.25% |
(1)
These operating expense limits take into account the operating expenses incurred at the Underlying Fund level. The amount
of fees and expenses of an Underlying Fund borne by each Fund will vary based on each Fund’s allocation of assets to, and
the net expenses of, a particular Underlying Fund.
The
Expense Limitation Agreement is contractual through October 1, 2025, and shall renew automatically for one-year terms. Termination
or modification of this obligation requires approval by the Board.
Effective
October 1, 2024, the Side Letter Expense Limit Agreement expired and reverted to the existing Standard Expense Limit Agreement
for In-Retirement, Retirement 2025, Retirement 2030, Retirement 2035, Retirement 2040, Retirement 2045, Retirement 2050, Retirement
2055, Retirement 2060 and Retirement 2065. Prior to October 1, 2024, Side Letter Expense Limits were:
| Fund(1)(2) |
|
Class
A |
|
Class
I |
|
Class
R |
|
Class
R6 |
| In-Retirement |
|
0.58% |
|
0.23% |
|
0.83% |
|
0.22% |
| Retirement
2025 |
|
0.52% |
|
0.32% |
|
0.77% |
|
0.23% |
| Retirement
2030 |
|
0.53% |
|
0.28% |
|
0.78% |
|
0.24% |
| Retirement
2035 |
|
0.55% |
|
0.25% |
|
0.80% |
|
0.24% |
| Retirement
2040 |
|
0.58% |
|
0.29% |
|
0.83% |
|
0.25% |
| Retirement
2045 |
|
0.61% |
|
0.25% |
|
0.86% |
|
0.25% |
| Retirement
2050 |
|
0.60% |
|
0.28% |
|
0.85% |
|
0.25% |
| Retirement
2055 |
|
0.65% |
|
0.30% |
|
0.90% |
|
0.25% |
| Retirement
2060 |
|
0.65% |
|
0.25% |
|
0.90% |
|
0.25% |
| Retirement
2065 |
|
0.52% |
|
0.29% |
|
0.77% |
|
0.25% |
| (1) | These
operating expense limits take into account the operating expenses incurred at the Underlying
Fund level. The amount of fees and expense of an Underlying Fund borne by each Fund will
vary based on each Fund’s allocation of assets to, and the net expenses of, a particular
Fund. |
| (2) | Any
fees waived pursuant to the side letter agreement shall not be eligible for recoupment. |
Unless
otherwise specified above, the Investment Adviser may at a later date recoup from a Fund for class specific fees waived and/or
other expenses reimbursed by the Investment Adviser during the previous 36 months, but
only
if, after such recoupment, a Fund’s expense ratio does not exceed the percentage described above. Waived and reimbursed
fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements
of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.
As
of November 30, 2024, the amounts of waived and/or reimbursed fees that are subject to possible recoupment by the Investment Adviser
and the related expiration dates are as follows:
| | |
November
30,
| |
| | |
| | |
2025 | |
2026 | |
2027 | |
Total | |
| In-Retirement | |
$ | — | |
$ | —
| |
$ | 16,014 | |
$ | 16,014 | |
| Retirement 2025 | |
| — | |
| — | |
| 22,214 | |
| 22,214 | |
| Retirement 2030 | |
| — | |
| — | |
| 23,407 | |
| 23,407 | |
| Retirement 2035 | |
| — | |
| — | |
| 32,023 | |
| 32,023 | |
| Retirement 2040 | |
| — | |
| — | |
| 15,474 | |
| 15,474 | |
| Retirement 2045 | |
| — | |
| — | |
| 24,678 | |
| 24,678 | |
| Retirement 2050 | |
| — | |
| — | |
| 11,113 | |
| 11,113 | |
| Retirement 2055 | |
| — | |
| — | |
| 16,871 | |
| 16,871 | |
| Retirement 2060 | |
| — | |
| — | |
| 6,283 | |
| 6,283 | |
| Retirement 2065 | |
| — | |
| — | |
| 2,355 | |
| 2,355 | |
In
addition to the above waived and/or reimbursed fees, the amount of class specific fees waived or reimbursed that are subject to
possible recoupment by the Investment Adviser, and the related expiration dates, as of November 30, 2024, are as follows:
| | |
November 30, |
|
| | |
| | |
2025 | | |
2026 | | |
2027 |
|
Total | |
| Retirement 2055 | |
| | | |
| | | |
| |
|
| | |
| Class A | |
$ | — | | |
$ | — | | |
$ | 1,198 |
|
$ | 1,198 | |
| Class R | |
| — | | |
| — | | |
| 105 |
|
| 105 | |
| Retirement 2060 | |
| | | |
| | | |
| |
|
| | |
| Class A | |
$ | — | | |
$ | — | | |
$ | 366 |
|
$ | 366 | |
| Class R | |
| — | | |
| — | | |
| 204 |
|
| 204 | |
The
Expense Limitation Agreement is contractual through October 1, 2025 and shall renew automatically for one-year terms. Termination
or modification of these obligations requires approval by the Board.
NOTE
8 — LINE OF CREDIT
Effective
June 10, 2024, the Funds, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured
committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York Mellon (“BNY”)
for an aggregate amount of $400,000,000 through June 9, 2025. The proceeds may be used only to finance temporarily: (1) the purchase
or sale of investment securities; or (2) the repurchase or redemption of shares of a Fund or certain other funds managed by the
Investment Adviser. The funds to which the line of credit is
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
8 — LINE OF CREDIT (continued)
available
pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears.
Prior to June 10, 2024, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the
line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line
amount through June 10, 2024.
NOTE
9 — CAPITAL SHARES
Transactions
in capital shares and dollars were as follows:
Borrowings
under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made
within 60 days after the date of a revolving credit advance.
The
Funds did not utilize the line of credit during the period ended November 30, 2024.
| | |
Shares
sold | | |
Shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) in
shares
outstanding | | |
Shares
sold | | |
Proceeds
from
shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) | |
| Year or | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| |
| period
ended | |
# | | |
# | |
# | | |
# | | |
# | | |
# | | |
($) | | |
($) | |
($) | | |
($) | | |
($) | | |
($) | |
| In-Retirement | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
5,407,186 | | |
— | |
| — | | |
| (165,975 | ) | |
| — | | |
| 5,241,211 | | |
| 58,983,716 | | |
— | |
| — | | |
| (1,792,652 | ) | |
| — | | |
| 57,191,064 | |
| 5/31/2024 | |
214,845 | | |
— | |
| 8,050 | | |
| (914,252 | ) | |
| — | | |
| (691,357 | ) | |
| 2,154,341 | | |
— | |
| 81,300 | | |
| (9,027,914 | ) | |
| — | | |
| (6,792,273 | ) |
| Class
I | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
162,449 | | |
— | |
| — | | |
| (29,918 | ) | |
| — | | |
| 132,531 | | |
| 1,771,160 | | |
— | |
| — | | |
| (325,178 | ) | |
| — | | |
| 1,445,982 | |
| 5/31/2024 | |
480,220 | | |
— | |
| 18,537 | | |
| (295,911 | ) | |
| — | | |
| 202,846 | | |
| 4,680,105 | | |
— | |
| 187,219 | | |
| (2,996,450 | ) | |
| — | | |
| 1,870,874 | |
| Class
R | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
28,001 | | |
— | |
| — | | |
| (14,250 | ) | |
| — | | |
| 13,751 | | |
| 297,450 | | |
— | |
| — | | |
| (151,600 | ) | |
| — | | |
| 145,850 | |
| 5/31/2024 | |
118,346 | | |
— | |
| 2,992 | | |
| (7,548 | ) | |
| — | | |
| 113,790 | | |
| 1,180,176 | | |
— | |
| 29,920 | | |
| (76,277 | ) | |
| — | | |
| 1,133,819 | |
| Class R6 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
701,094 | | |
— | |
| — | | |
| (625,855 | ) | |
| — | | |
| 75,239 | | |
| 7,455,249 | | |
— | |
| — | | |
| (6,742,113 | ) | |
| — | | |
| 713,136 | |
| 5/31/2024 | |
991,490 | | |
— | |
| 134,991 | | |
| (1,190,692 | ) | |
| — | | |
| (64,211 | ) | |
| 9,859,622 | | |
— | |
| 1,363,411 | | |
| (11,924,954 | ) | |
| — | | |
| (701,921 | ) |
| Retirement 2025 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
5,198,725 | | |
— | |
| — | | |
| (237,273 | ) | |
| — | | |
| 4,961,452 | | |
| 66,267,672 | | |
— | |
| — | | |
| (2,995,032 | ) | |
| — | | |
| 63,272,640 | |
| 5/31/2024 | |
165,159 | | |
— | |
| 16,303 | | |
| (1,059,060 | ) | |
| — | | |
| (877,598 | ) | |
| 1,866,697 | | |
— | |
| 188,631 | | |
| (11,920,088 | ) | |
| — | | |
| (9,864,760 | ) |
| Class
I | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
108,779 | | |
— | |
| — | | |
| (40,259 | ) | |
| — | | |
| 68,520 | | |
| 1,363,097 | | |
— | |
| — | | |
| (508,042 | ) | |
| — | | |
| 855,055 | |
| 5/31/2024 | |
636,942 | | |
— | |
| 15,584 | | |
| (246,775 | ) | |
| — | | |
| 405,751 | | |
| 7,103,935 | | |
— | |
| 181,399 | | |
| (2,887,797 | ) | |
| — | | |
| 4,397,537 | |
| Class
R | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
9,992 | | |
— | |
| — | | |
| (13,264 | ) | |
| — | | |
| (3,272 | ) | |
| 123,601 | | |
— | |
| — | | |
| (165,831 | ) | |
| — | | |
| (42,230 | ) |
| 5/31/2024 | |
356,241 | | |
— | |
| 9,388 | | |
| (46,373 | ) | |
| — | | |
| 319,256 | | |
| 4,022,009 | | |
— | |
| 107,871 | | |
| (541,185 | ) | |
| — | | |
| 3,588,695 | |
| Class R6 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
673,634 | | |
— | |
| — | | |
| (502,509 | ) | |
| — | | |
| 171,125 | | |
| 8,500,379 | | |
— | |
| — | | |
| (6,336,363 | ) | |
| — | | |
| 2,164,016 | |
| 5/31/2024 | |
1,526,427 | | |
— | |
| 164,670 | | |
| (2,039,174 | ) | |
| — | | |
| (348,077 | ) | |
| 17,462,047 | | |
— | |
| 1,915,107 | | |
| (23,601,064 | ) | |
| — | | |
| (4,223,910 | ) |
| Retirement 2030 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
2,448,950 | | |
— | |
| — | | |
| (206,603 | ) | |
| — | | |
| 2,242,347 | | |
| 33,162,321 | | |
— | |
| — | | |
| (2,745,963 | ) | |
| — | | |
| 30,416,358 | |
| 5/31/2024 | |
323,326 | | |
— | |
| 19,779 | | |
| (1,295,242 | ) | |
| — | | |
| (952,137 | ) | |
| 3,824,915 | | |
— | |
| 240,507 | | |
| (15,326,980 | ) | |
| — | | |
| (11,261,558 | ) |
| Class
I | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
145,666 | | |
— | |
| — | | |
| (28,649 | ) | |
| — | | |
| 117,017 | | |
| 1,938,838 | | |
— | |
| — | | |
| (381,401 | ) | |
| — | | |
| 1,557,437 | |
| 5/31/2024 | |
985,560 | | |
— | |
| 23,660 | | |
| (154,543 | ) | |
| — | | |
| 854,677 | | |
| 11,528,968 | | |
— | |
| 289,362 | | |
| (1,893,771 | ) | |
| — | | |
| 9,924,559 | |
| Class
R | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
25,752 | | |
— | |
| — | | |
| (94,845 | ) | |
| — | | |
| (69,093 | ) | |
| 338,995 | | |
— | |
| — | | |
| (1,230,972 | ) | |
| — | | |
| (891,977 | ) |
| 5/31/2024 | |
453,378 | | |
— | |
| 10,554 | | |
| (14,519 | ) | |
| — | | |
| 449,413 | | |
| 5,350,956 | | |
— | |
| 126,864 | | |
| (171,195 | ) | |
| — | | |
| 5,306,625 | |
| Class R6 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
786,873 | | |
— | |
| — | | |
| (640,249 | ) | |
| — | | |
| 146,624 | | |
| 10,603,295 | | |
— | |
| — | | |
| (8,548,268 | ) | |
| — | | |
| 2,055,027 | |
| 5/31/2024 | |
1,591,976 | | |
— | |
| 184,956 | | |
| (1,682,507 | ) | |
| — | | |
| 94,425 | | |
| 19,074,132 | | |
— | |
| 2,260,165 | | |
| (20,270,373 | ) | |
| — | | |
| 1,063,924 | |
| Retirement 2035 | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
5,465,518 | | |
— | |
| — | | |
| (253,641 | ) | |
| — | | |
| 5,211,877 | | |
| 75,761,857 | | |
— | |
| — | | |
| (3,486,260 | ) | |
| — | | |
| 72,275,597 | |
| 5/31/2024 | |
327,334 | | |
— | |
| 17,588 | | |
| (910,907 | ) | |
| — | | |
| (565,985 | ) | |
| 3,988,405 | | |
— | |
| 215,980 | | |
| (10,857,904 | ) | |
| — | | |
| (6,653,519 | ) |
| Class
I | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| |
| | | |
| | | |
| | | |
| | |
| 11/30/2024 | |
142,286 | | |
— | |
| — | | |
| (176,522 | ) | |
| — | | |
| (34,236 | ) | |
| 1,962,451 | | |
— | |
| — | | |
| (2,445,781 | ) | |
| — | | |
| (483,330 | ) |
| 5/31/2024 | |
1,081,679 | | |
— | |
| 23,712 | | |
| (133,226 | ) | |
| — | | |
| 972,165 | | |
| 12,722,281 | | |
— | |
| 293,559 | | |
| (1,640,429 | ) | |
| — | | |
| 11,375,411 | |
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
9 — CAPITAL SHARES (continued)
| | |
Shares
sold | | |
Shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) in
shares
outstanding | | |
Shares
sold | | |
Proceeds
from
shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) | |
| Year or | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| |
| period
ended | |
# | | |
# | |
# | | |
# | | |
# | | |
# | | |
($) | | |
($) | |
($) | | |
($) | | |
($) | | |
($) | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| |
| Retirement 2035 (continued) | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Class
R | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
61,108 | | |
— | | |
— | | |
| (61,865 | ) | |
| — | | |
| (757 | ) | |
| 828,469 | | |
— | | |
— | | |
| (829,799 | ) | |
| — | | |
| (1,330 | ) |
| 5/31/2024 | |
363,057 | | |
— | | |
7,881 | | |
| (22,057 | ) | |
| — | | |
| 348,881 | | |
| 4,343,688 | | |
— | | |
95,995 | | |
| (262,325 | ) | |
| — | | |
| 4,177,358 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
1,051,339 | | |
— | | |
— | | |
| (716,345 | ) | |
| — | | |
| 334,994 | | |
| 14,356,422 | | |
— | | |
— | | |
| (9,797,498 | ) | |
| — | | |
| 4,558,924 | |
| 5/31/2024 | |
2,576,975 | | |
— | | |
187,263 | | |
| (1,990,381 | ) | |
| — | | |
| 773,857 | | |
| 31,115,485 | | |
— | | |
2,312,698 | | |
| (24,513,035 | ) | |
| — | | |
| 8,915,148 | |
| Retirement 2040 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
139,383 | | |
— | | |
— | | |
| (96,661 | ) | |
| — | | |
| 42,722 | | |
| 2,088,279 | | |
— | | |
— | | |
| (1,417,307 | ) | |
| — | | |
| 670,972 | |
| 5/31/2024 | |
179,653 | | |
— | | |
9,928 | | |
| (1,072,042 | ) | |
| — | | |
| (882,461 | ) | |
| 2,292,846 | | |
— | | |
131,043 | | |
| (13,612,323 | ) | |
| — | | |
| (11,188,434 | ) |
| Class
I | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
87,583 | | |
— | | |
— | | |
| (84,995 | ) | |
| — | | |
| 2,588 | | |
| 1,307,574 | | |
— | | |
— | | |
| (1,266,672 | ) | |
| — | | |
| 40,902 | |
| 5/31/2024 | |
904,116 | | |
— | | |
16,780 | | |
| (165,692 | ) | |
| — | | |
| 755,204 | | |
| 11,373,334 | | |
— | | |
222,666 | | |
| (2,187,786 | ) | |
| — | | |
| 9,408,214 | |
| Class
R | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
28,530 | | |
— | | |
— | | |
| (5,509 | ) | |
| — | | |
| 23,021 | | |
| 413,730 | | |
— | | |
— | | |
| (81,163 | ) | |
| — | | |
| 332,567 | |
| 5/31/2024 | |
389,678 | | |
— | | |
8,344 | | |
| (12,204 | ) | |
| — | | |
| 385,818 | | |
| 4,958,324 | | |
— | | |
108,804 | | |
| (163,523 | ) | |
| — | | |
| 4,903,605 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
555,269 | | |
— | | |
— | | |
| (359,719 | ) | |
| — | | |
| 195,550 | | |
| 8,276,105 | | |
— | | |
— | | |
| (5,321,886 | ) | |
| — | | |
| 2,954,219 | |
| 5/31/2024 | |
1,624,262 | | |
— | | |
120,843 | | |
| (1,122,583 | ) | |
| — | | |
| 622,522 | | |
| 21,087,341 | | |
— | | |
1,603,592 | | |
| (14,648,723 | ) | |
| — | | |
| 8,042,210 | |
| Retirement 2045 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
3,979,491 | | |
— | | |
— | | |
| (125,237 | ) | |
| — | | |
| 3,854,254 | | |
| 60,314,719 | | |
— | | |
— | | |
| (1,868,829 | ) | |
| — | | |
| 58,445,890 | |
| 5/31/2024 | |
234,126 | | |
— | | |
8,824 | | |
| (794,389 | ) | |
| — | | |
| (551,439 | ) | |
| 2,973,756 | | |
— | | |
116,031 | | |
| (10,057,576 | ) | |
| — | | |
| (6,967,789 | ) |
| Class
I | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
115,194 | | |
— | | |
— | | |
| (82,739 | ) | |
| — | | |
| 32,455 | | |
| 1,725,309 | | |
— | | |
— | | |
| (1,243,782 | ) | |
| — | | |
| 481,527 | |
| 5/31/2024 | |
953,244 | | |
— | | |
17,288 | | |
| (235,496 | ) | |
| — | | |
| 735,036 | | |
| 11,840,862 | | |
— | | |
228,547 | | |
| (3,125,129 | ) | |
| — | | |
| 8,944,280 | |
| Class
R | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
22,536 | | |
— | | |
— | | |
| (6,447 | ) | |
| — | | |
| 16,089 | | |
| 328,374 | | |
— | | |
— | | |
| (92,608 | ) | |
| — | | |
| 235,766 | |
| 5/31/2024 | |
246,822 | | |
— | | |
4,609 | | |
| (11,535 | ) | |
| — | | |
| 239,896 | | |
| 3,129,834 | | |
— | | |
60,010 | | |
| (153,294 | ) | |
| — | | |
| 3,036,550 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
1,003,530 | | |
— | | |
— | | |
| (552,288 | ) | |
| — | | |
| 451,242 | | |
| 14,981,774 | | |
— | | |
— | | |
| (8,175,035 | ) | |
| — | | |
| 6,806,739 | |
| 5/31/2024 | |
2,021,408 | | |
— | | |
136,005 | | |
| (1,243,082 | ) | |
| — | | |
| 914,331 | | |
| 26,191,705 | | |
— | | |
1,799,341 | | |
| (16,559,964 | ) | |
| — | | |
| 11,431,082 | |
| Retirement 2050 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
107,563 | | |
— | | |
— | | |
| (46,477 | ) | |
| — | | |
| 61,086 | | |
| 1,626,210 | | |
— | | |
— | | |
| (684,927 | ) | |
| — | | |
| 941,283 | |
| 5/31/2024 | |
168,323 | | |
— | | |
5,136 | | |
| (672,200 | ) | |
| — | | |
| (498,741 | ) | |
| 2,133,070 | | |
— | | |
67,797 | | |
| (8,470,736 | ) | |
| — | | |
| (6,269,869 | ) |
| Class
I | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
70,546 | | |
— | | |
— | | |
| (55,766 | ) | |
| — | | |
| 14,780 | | |
| 1,054,417 | | |
— | | |
— | | |
| (838,402 | ) | |
| — | | |
| 216,015 | |
| 5/31/2024 | |
685,612 | | |
— | | |
11,909 | | |
| (125,830 | ) | |
| — | | |
| 571,691 | | |
| 8,536,698 | | |
— | | |
157,913 | | |
| (1,616,199 | ) | |
| — | | |
| 7,078,412 | |
| Class
R | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
25,233 | | |
— | | |
— | | |
| (37,416 | ) | |
| — | | |
| (12,183 | ) | |
| 371,545 | | |
— | | |
— | | |
| (562,348 | ) | |
| — | | |
| (190,803 | ) |
| 5/31/2024 | |
317,659 | | |
— | | |
6,130 | | |
| (22,664 | ) | |
| — | | |
| 301,125 | | |
| 4,014,972 | | |
— | | |
79,994 | | |
| (298,801 | ) | |
| — | | |
| 3,796,165 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
615,599 | | |
— | | |
— | | |
| (336,629 | ) | |
| — | | |
| 278,970 | | |
| 9,255,850 | | |
— | | |
— | | |
| (5,013,917 | ) | |
| — | | |
| 4,241,933 | |
| 5/31/2024 | |
1,270,551 | | |
— | | |
86,713 | | |
| (749,793 | ) | |
| — | | |
| 607,471 | | |
| 16,505,291 | | |
— | | |
1,149,815 | | |
| (9,916,587 | ) | |
| — | | |
| 7,738,519 | |
| Retirement 2055 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
2,709,259 | | |
— | | |
— | | |
| (99,380 | ) | |
| — | | |
| 2,609,879 | | |
| 40,409,549 | | |
— | | |
— | | |
| (1,453,087 | ) | |
| — | | |
| 38,956,462 | |
| 5/31/2024 | |
176,143 | | |
— | | |
6,365 | | |
| (473,237 | ) | |
| — | | |
| (290,729 | ) | |
| 2,180,531 | | |
— | | |
82,102 | | |
| (5,854,827 | ) | |
| — | | |
| (3,592,194 | ) |
| Class
I | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
91,610 | | |
— | | |
— | | |
| (37,411 | ) | |
| — | | |
| 54,199 | | |
| 1,345,911 | | |
— | | |
— | | |
| (552,935 | ) | |
| — | | |
| 792,976 | |
| 5/31/2024 | |
863,072 | | |
— | | |
14,093 | | |
| (219,591 | ) | |
| — | | |
| 657,574 | | |
| 10,538,127 | | |
— | | |
182,933 | | |
| (2,889,772 | ) | |
| — | | |
| 7,831,288 | |
| Class
R | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
34,915 | | |
— | | |
— | | |
| (15,104 | ) | |
| — | | |
| 19,811 | | |
| 502,464 | | |
— | | |
— | | |
| (218,430 | ) | |
| — | | |
| 284,034 | |
| 5/31/2024 | |
194,305 | | |
— | | |
3,163 | | |
| (8,949 | ) | |
| — | | |
| 188,519 | | |
| 2,414,073 | | |
— | | |
40,164 | | |
| (112,559 | ) | |
| — | | |
| 2,341,678 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
724,011 | | |
— | | |
— | | |
| (192,667 | ) | |
| — | | |
| 531,344 | | |
| 10,593,585 | | |
— | | |
— | | |
| (2,837,800 | ) | |
| — | | |
| 7,755,785 | |
| 5/31/2024 | |
1,365,861 | | |
— | | |
74,647 | | |
| (650,337 | ) | |
| — | | |
| 790,171 | | |
| 17,297,984 | | |
— | | |
968,167 | | |
| (8,481,762 | ) | |
| — | | |
| 9,784,389 | |
| Retirement 2060 | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| 11/30/2024 | |
54,604 | | |
— | | |
— | | |
| (55,080 | ) | |
| — | | |
| (476 | ) | |
| 739,946 | | |
— | | |
— | | |
| (741,923 | ) | |
| — | | |
| (1,977 | ) |
| 5/31/2024 | |
237,109 | | |
— | | |
5,461 | | |
| (459,585 | ) | |
| — | | |
| (217,015 | ) | |
| 2,739,367 | | |
— | | |
65,536 | | |
| (5,327,485 | ) | |
| — | | |
| (2,522,582 | ) |
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
9 — CAPITAL SHARES (continued)
| | |
Shares
sold | | |
Shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) in
shares
outstanding | | |
Shares
sold | | |
Proceeds
from
shares
issued in
merger | |
Reinvestment
of
distributions | | |
Shares
redeemed | | |
Shares
converted | | |
Net
increase
(decrease) | |
| Year or | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| |
| period
ended | |
# | | |
# | |
# | | |
# | | |
# | | |
# | | |
($) | | |
($) | |
($) | | |
($) | | |
($) | | |
($) | |
| | |
| | |
| |
| | |
| | |
| | |
| | |
| | |
| |
| | |
| | |
| | |
| |
| Retirement 2060 (continued) |
| |
| | |
|
| | |
| | |
| | |
| | |
| | |
| | |
|
| | |
| |
| Class
I | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
47,501 | | |
— | | |
— | | |
| (21,568 | ) | |
|
— | | |
| 25,933 | | |
| 644,936 | | |
— | | |
— | | |
| (290,391 | ) | |
|
— | | |
| 354,545 | |
| 5/31/2024 | |
186,649 | | |
— | | |
2,621 | | |
| (46,227 | ) | |
|
— | | |
| 143,043 | | |
| 2,166,186 | | |
— | | |
31,533 | | |
| (556,031 | ) | |
|
— | | |
| 1,641,688 | |
| Class
R | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
25,815 | | |
— | | |
— | | |
| (6,353 | ) | |
|
— | | |
| 19,462 | | |
| 344,753 | | |
— | | |
— | | |
| (86,185 | ) | |
|
— | | |
| 258,568 | |
| 5/31/2024 | |
159,402 | | |
— | | |
2,595 | | |
| (5,289 | ) | |
|
— | | |
| 156,708 | | |
| 1,846,859 | | |
— | | |
30,834 | | |
| (64,995 | ) | |
|
— | | |
| 1,812,698 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
514,378 | | |
— | | |
— | | |
| (124,844 | ) | |
|
— | | |
| 389,534 | | |
| 7,011,193 | | |
— | | |
— | | |
| (1,695,877 | ) | |
|
— | | |
| 5,315,316 | |
| 5/31/2024 | |
1,042,070 | | |
— | | |
47,964 | | |
| (353,921 | ) | |
|
— | | |
| 736,113 | | |
| 12,323,090 | | |
— | | |
577,965 | | |
| (4,216,053 | ) | |
|
— | | |
| 8,685,002 | |
| Retirement 2065 | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| Class
A | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
191,735 | | |
— | | |
— | | |
| (16,657 | ) | |
|
— | | |
| 175,078 | | |
| 2,363,312 | | |
— | | |
— | | |
| (202,028 | ) | |
|
— | | |
| 2,161,284 | |
| 5/31/2024 | |
17,353 | | |
— | | |
2,398 | | |
| (7,173 | ) | |
|
— | | |
| 12,578 | | |
| 181,844 | | |
— | | |
25,587 | | |
| (74,244 | ) | |
|
— | | |
| 133,187 | |
| Class
I | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
4,646 | | |
— | | |
— | | |
| (860 | ) | |
|
— | | |
| 3,786 | | |
| 55,356 | | |
— | | |
— | | |
| (10,605 | ) | |
|
— | | |
| 44,751 | |
| 5/31/2024 | |
18,909 | | |
— | | |
265 | | |
| (1,935 | ) | |
|
— | | |
| 17,239 | | |
| 209,488 | | |
— | | |
2,832 | | |
| (20,570 | ) | |
|
— | | |
| 191,750 | |
| Class
R | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
3,092 | | |
— | | |
— | | |
| (1,022 | ) | |
|
— | | |
| 2,070 | | |
| 36,770 | | |
— | | |
— | | |
| (11,984 | ) | |
|
— | | |
| 24,786 | |
| 5/31/2024 | |
8,221 | | |
— | | |
89 | | |
| (1,772 | ) | |
|
— | | |
| 6,538 | | |
| 88,532 | | |
— | | |
948 | | |
| (19,275 | ) | |
|
— | | |
| 70,205 | |
| Class R6 | |
| | |
| | |
| | |
| | | |
|
| | |
| | | |
| | | |
| | |
| | |
| | | |
|
| | |
| | |
| 11/30/2024 | |
314,810 | | |
— | | |
— | | |
| (40,720 | ) | |
|
— | | |
| 274,090 | | |
| 3,844,923 | | |
— | | |
— | | |
| (489,627 | ) | |
|
— | | |
| 3,355,296 | |
| 5/31/2024 | |
453,948 | | |
— | | |
17,699 | | |
| (167,829 | ) | |
|
— | | |
| 303,818 | | |
| 4,778,036 | | |
— | | |
189,022 | | |
| (1,773,585 | ) | |
|
— | | |
| 3,193,473 | |
NOTE
10 — FEDERAL INCOME TAXES
The
amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal
income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary
or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment;
temporary differences are not reclassified. Key differences include the treatment of short-term capital gains and wash sale deferrals.
Dividends
paid by the Funds from net investment income and distributions of net realized short-term capital gains are, for federal income
tax purposes, taxable as ordinary income to shareholders.
The
tax composition of dividends and distributions to shareholders was as follows:
| | | |
Year
Ended | |
Year
Ended |
| | | |
May
31, 2024 | |
May
31, 2023 |
| | | |
Ordinary | |
Long-term | |
Ordinary | |
Long-term |
| | | |
Income | |
Capital
Gains | |
Income | |
Capital
Gains |
| In-Retirement | | |
$ | 1,661,850 | |
$ | — | |
$ | 1,229,363 | |
$ | 346,378 |
| Retirement 2025 | | |
| 2,393,008 | |
| — | |
| 1,605,463 | |
| 1,454,698 |
| Retirement 2030 | | |
| 2,916,898 | |
| — | |
| 1,725,840 | |
| 2,733,484 |
| Retirement 2035 | | |
| 2,918,232 | |
| — | |
| 1,611,732 | |
| 3,221,085 |
| Retirement 2040 | | |
| 2,066,105 | |
| — | |
| 1,202,991 | |
| 2,545,285 |
| Retirement 2045 | | |
| 2,203,929 | |
| — | |
| 1,241,610 | |
| 2,577,687 |
| Retirement 2050 | | |
| 1,455,519 | |
| — | |
| 871,327 | |
| 2,046,662 |
| Retirement 2055 | | |
| 1,277,280 | |
| — | |
| 704,925 | |
| 1,429,834 |
| Retirement 2060 | | |
| 705,891 | |
| — | |
| 410,886 | |
| 1,163,292 |
| Retirement 2065 | | |
| 218,416 | |
| — | |
| 122,596 | |
| 237,353 |
| | | |
| | |
| | |
| | |
| |
The
tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized
capital gains for federal income tax purposes as of May 31, 2024 were:
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
10 — FEDERAL INCOME TAXES (continued)
| | |
Undistributed | |
Unrealized | |
| |
| |
Total |
| | |
Ordinary | |
Appreciation/ | |
Capital Loss Carryforwards | |
Distributable |
| | |
Income | |
(Depreciation) | |
Amount | |
Character | |
Earnings/(Loss) |
| In-Retirement | |
$ | 474,217 | |
$ | 1,058,628 | |
$ | (732,609) | |
Short-term | |
$ | (3,445,085) |
| | |
| | |
| | |
| (4,245,321) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (4,977,930) | |
| |
| |
| Retirement 2025 | |
| 589,648 | |
| 3,556,404 | |
| (1,147,112) | |
Short-term | |
| (334,503) |
| | |
| | |
| | |
| (3,333,443) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (4,480,555) | |
| |
| |
| Retirement 2030 | |
| 680,615 | |
| 7,510,813 | |
| (1,401,766) | |
Short-term | |
| 2,377,696 |
| | |
| | |
| | |
| (4,411,966) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (5,813,732) | |
| |
| |
| Retirement 2035 | |
| 596,278 | |
| 10,458,125 | |
| (891,787) | |
Short-term | |
| 6,253,122 |
| | |
| | |
| | |
| (3,909,494) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (4,801,281) | |
| |
| |
| Retirement 2040 | |
| 318,774 | |
| 10,335,648 | |
| (904,805) | |
Short-term | |
| 6,649,219 |
| | |
| | |
| | |
| (3,100,398) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (4,005,203) | |
| |
| |
| Retirement 2045 | |
| 246,654 | |
| 12,754,058 | |
| (808,099) | |
Short-term | |
| 10,073,823 |
| | |
| | |
| | |
| (2,118,790) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (2,926,889) | |
| |
| |
| Retirement 2050 | |
| 119,333 | |
| 10,197,567 | |
| (420,968) | |
Short-term | |
| 7,150,173 |
| | |
| | |
| | |
| (2,745,759) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (3,166,727) | |
| |
| |
| Retirement 2055 | |
| 88,864 | |
| 9,044,699 | |
| (54,630) | |
Short-term | |
| 7,696,411 |
| | |
| | |
| | |
| (1,382,522) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (1,437,152) | |
| |
| |
| Retirement 2060 | |
| 52,721 | |
| 5,221,053 | |
| (56,386) | |
Short-term | |
| 4,166,367 |
| | |
| | |
| | |
| (1,051,021) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (1,107,407) | |
| |
| |
| Retirement 2065 | |
| 15,347 | |
| 1,678,344 | |
| (10,840) | |
Short-term | |
| 1,580,684 |
| | |
| | |
| | |
| (102,167) | |
Long-term | |
| |
| | |
| | |
| | |
$ | (113,007) | |
| |
| |
The
Funds’ major tax jurisdictions are U.S. federal and Arizona state.
As
of November 30, 2024, no provision for income tax is required in the Funds’ financial statements as a result of tax positions
taken on federal and state income tax returns for open tax years. The Funds’ federal and state income and federal excise
tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the
Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination
by these jurisdictions.
NOTE
11 — MARKET DISRUPTION AND GEOPOLITICAL RISK
A
Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and
markets. Due to the increasing interdependence
among
global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign
exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, and other
geopolitical events that have led, and may continue to lead, to increased
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
11 — MARKET DISRUPTION AND GEOPOLITICAL RISK (continued)
market
volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example,
the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial
markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world.
The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially
or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial
real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies
and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial
markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby
geographic regions. Furthermore, the possibility of a prolonged conflict between Hamas and Israel, and the potential expansion
of the conflict in the surrounding areas and the involvement of other nations in
such
conflict, such as the Houthi movement’s attacks on marine vessels in the Red Sea, could further destabilize the Middle East
region and introduce new uncertainties in global markets, including the oil and natural gas markets. The extent and duration of
the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number
of U.S. domestic banks and foreign (non-U.S.) banks have experienced financial difficulties and, in some cases, failures. There
can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other
banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible
that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other
U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and
domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers,
securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a
Fund’s investments. Any of these occurrences could disrupt the operations of a Fund and of a Fund’s service providers.
NOTE
12 — SUBSEQUENT EVENTS
Dividends:
Subsequent to November 30, 2024, the Funds declared and paid dividends and distributions of:
| |
Per
Share Amounts |
|
|
|
|
| |
Net
Investment
Income |
|
Short-term
Capital
Gains |
|
Long-term
Capital
Gains |
|
Payable
Date |
|
Record
Date |
| In-Retirement |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2324 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2496 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.1944 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2537 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2025 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2666 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2800 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.2219 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2876 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2030 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2093 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2283 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.1596 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2333 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2035 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2696 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2917 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.2217 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2924 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2040 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2931 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
NOTES
TO FINANCIAL STATEMENTS as of November 30, 2024 (Unaudited) (continued)
NOTE
12 — SUBSEQUENT EVENTS (continued)
| Class
I |
$0.3308 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.2586 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.3355 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2045 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2684 |
|
$ |
- |
|
$0.1581 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2883 |
|
$ |
- |
|
$0.1581 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.2140 |
|
$ |
- |
|
$0.1581 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2892 |
|
$ |
- |
|
$0.1581 |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2050 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2546 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2884 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.2107 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2933 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2055 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2374 |
|
$0.0480 |
|
$0.1626 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2563 |
|
$0.0480 |
|
$0.1626 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.1818 |
|
$0.0480 |
|
$0.1626 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2623 |
|
$0.0480 |
|
$0.1626 |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2060 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.2078 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2563 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.1817 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2579 |
|
$ |
- |
|
$ |
- |
|
December
31, 2024 |
|
December
27, 2024 |
| Retirement
2065 |
|
|
|
|
|
|
|
|
|
|
|
| Class
A |
$0.1985 |
|
$0.0311 |
|
$0.1309 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
I |
$0.2172 |
|
$0.0311 |
|
$0.1309 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R |
$0.1699 |
|
$0.0311 |
|
$0.1309 |
|
December
31, 2024 |
|
December
27, 2024 |
| Class
R6 |
$0.2188 |
|
$0.0311 |
|
$0.1309 |
|
December
31, 2024 |
|
December
27, 2024 |
Reorganization:
On November 14, 2024, the Board approved a proposal to reorganize Retirement 2025 into In-Retirement on or about August 8,
2025. Following the reorganization, shareholders of Retirement 2025 will hold shares of In-Retirement.
The
Funds have evaluated events occurring after the Statements of Assets and Liabilities date through the date that the financial
statements were issued (“subsequent events”) to determine whether any subsequent events necessitated adjustment to
or disclosure in the financial statements. Other than the above, no such subsequent events were identified.
Voya
Target
In-Retirement Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) |
| Shares | | |
RA | |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 42.2% |
| 49,845 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 3,359,553 | | |
| 3.0 | |
| 158,958 | | |
iShares Core U.S. Aggregate Bond ETF | |
| 15,768,634 | | |
| 14.1 | |
| 424,360 | | |
Schwab U.S. TIPS ETF | |
| 11,207,348 | | |
| 10.0 | |
| 186,883 | | |
SPDR Portfolio High Yield Bond ETF | |
| 4,472,110 | | |
| 4.0 | |
| 123,394 | | |
Vanguard FTSE Developed Markets ETF | |
| 6,206,718 | | |
| 5.5 | |
| 48,912 | | |
Vanguard FTSE Emerging Markets ETF | |
| 2,228,920 | | |
| 2.0 | |
| 38,987 | | |
Vanguard Long-Term Treasury ETF | |
| 2,301,013 | | |
| 2.1 | |
| 33,290 | | |
Vanguard Total
International Bond ETF | |
| 1,682,809 | | |
| 1.5 | |
| | | |
Total Exchange-Traded Funds
(Cost $46,670,089) | |
| 47,227,105 | | |
| 42.2 | |
| MUTUAL FUNDS: 57.8% |
| |
|
|
Affiliated
Investment Companies: 38.4% |
| 3,372,111 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 29,640,854 | | |
| 26.5 | |
| 206,538 | | |
Voya Multi-Manager International Equity Fund - Class
I | |
| 2,207,892 | | |
| 2.0 | |
| 1,072,916 | | |
Voya Short Duration Bond Fund - Class R6 | |
| 10,031,761 | | |
| 8.9 | |
| 97,662 | | |
Voya VACS Series
EME Fund | |
| 1,083,070 | | |
| 1.0 | |
| | | |
| |
| 42,963,577 | | |
| 38.4 | |
| | | |
| |
| | | |
| | |
| |
|
|
Unaffiliated
Investment Companies: 19.4% |
| 326,867 | | |
Nuveen
S&P 500 Index Fund - Class R6 | |
| 21,775,885 | | |
| 19.4 | |
| | | |
Total Mutual
Funds
(Cost $63,130,284) | |
| 64,739,462 | | |
| 57.8 | |
|
| | | |
Total Long-Term Investments
(Cost $109,800,373) | |
| 111,966,567 | | |
| 100.0 | |
|
| | | |
Total
Investments in Securities
(Cost $109,800,373) | |
$ | 111,966,567 | | |
| 100.0 | |
|
| | | |
Assets in Excess of Other
Liabilities | |
| 32,530 | | |
| 0.0 | |
|
| | | |
Net Assets | |
$ | 111,999,097 | | |
| 100.0 | |
|
See
Accompanying Notes to Financial Statements
Voya
Target
In-Retirement Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) (continued) |
Fair
Value Measurements^
The
following is a summary of the fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant
Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair
Value
at
November 30,
2024 | |
| Asset Table |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 47,227,105 | | |
$ | — | | |
$ | — | | |
$ | 47,227,105 | |
| Mutual Funds | |
| 64,739,462 | | |
| — | | |
| — | | |
| 64,739,462 | |
| Total Investments, at fair value | |
$ | 111,966,567 | | |
$ | — | | |
$ | — | | |
$ | 111,966,567 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions
with Affiliates
An
investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results
in that issuer becoming an affiliated person as defined by the 1940 Act.
The
following table provides transactions during the period ended November 30, 2024, where the following issuers were considered an
affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Global Bond Fund - Class R6 | |
$ | 1,449,111 | | |
$ | 85,758 | | |
$ | (1,573,381 | ) | |
$ | 38,512 | | |
$ | — | | |
$ | 11,004 | | |
$ | (813 | ) | |
$ | — | |
| Voya Intermediate Bond Fund - Class R6 | |
| 12,403,776 | | |
| 42,605,146 | | |
| (25,017,495 | ) | |
| (350,573 | ) | |
| 29,640,854 | | |
| 461,491 | | |
| 416,797 | | |
| — | |
| Voya Multi-Manager International Equity Fund - Class
I | |
| 1,035,716 | | |
| 5,365,583 | | |
| (4,116,679 | ) | |
| (76,728 | ) | |
| 2,207,892 | | |
| — | | |
| 34,257 | | |
| — | |
| Voya Short Duration Bond Fund - Class R6 | |
| — | | |
| 10,586,884 | | |
| (483,551 | ) | |
| (71,572 | ) | |
| 10,031,761 | | |
| 81,320 | | |
| (4,526 | ) | |
| — | |
| Voya VACS Series EME Fund | |
| 502,872 | | |
| 2,082,947 | | |
| (1,384,406 | ) | |
| (118,343 | ) | |
| 1,083,070 | | |
| — | | |
| 76,626 | | |
| — | |
| | |
$ | 15,391,475 | | |
$ | 60,726,318 | | |
$ | (32,575,512 | ) | |
$ | (578,704 | ) | |
$ | 42,963,577 | | |
$ | 553,815 | | |
$ | 522,341 | | |
$ | — | |
The
financial statements for the above mutual fund[s] can be found at www.sec.gov.
At
November 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation
of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $110,728,077. | |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 2,905,404 | |
| Gross Unrealized Depreciation | |
| (1,666,914 | ) |
| Net Unrealized Appreciation | |
$ | 1,238,490 | |
See
Accompanying Notes to Financial Statements
Voya
Target
Retirement 2025 Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) |
| Shares | | |
RA | |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 41.4% |
| 80,201 | | |
iShares Core S&P Mid- Cap ETF | |
$ | 5,405,547 | | |
| 3.5 | |
| 12,248 | | |
iShares Core S&P Small-Cap ETF | |
| 1,549,739 | | |
| 1.0 | |
| 199,653 | | |
iShares Core U.S. Aggregate Bond ETF | |
| 19,805,578 | | |
| 12.8 | |
| 482,835 | | |
Schwab U.S. TIPS ETF | |
| 12,751,672 | | |
| 8.2 | |
| 193,304 | | |
SPDR Portfolio High Yield Bond ETF | |
| 4,625,765 | | |
| 3.0 | |
| 224,327 | | |
Vanguard FTSE Developed Markets ETF | |
| 11,283,648 | | |
| 7.3 | |
| 67,457 | | |
Vanguard FTSE Emerging Markets ETF | |
| 3,074,016 | | |
| 2.0 | |
| 53,769 | | |
Vanguard Long-Term Treasury ETF | |
| 3,173,446 | | |
| 2.1 | |
| 45,912 | | |
Vanguard
Total International Bond ETF | |
| 2,320,852 | | |
| 1.5 | |
| | | |
Total Exchange-Traded
Funds
(Cost $62,535,297) | |
| 63,990,263 | | |
| 41.4 | |
|
| MUTUAL FUNDS: 58.6% |
| |
|
|
Affiliated
Investment Companies: 33.2% |
| 4,275,511 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 37,581,742 | | |
| 24.3 | |
| 467,331 | | |
Voya Multi-Manager International Equity Fund - Class
I | |
| 4,995,773 | | |
| 3.2 | |
| 782,218 | | |
Voya Short Duration Bond Fund - Class R6 | |
| 7,313,742 | | |
| 4.7 | |
| 135,504 | | |
Voya VACS Series
EME Fund | |
| 1,502,743 | | |
| 1.0 | |
| | | |
| |
| 51,394,000 | | |
| 33.2 | |
| | | |
| |
| | | |
| | |
| |
|
|
Unaffiliated
Investment Companies: 25.4% |
| 590,813 | | |
Nuveen
S&P 500 Index Fund - Class R6 | |
| 39,359,981 | | |
| 25.4 | |
| | | |
Total Mutual Funds
(Cost
$86,689,040) | |
| 90,753,981 | | |
| 58.6 | |
|
| | | |
Total Long-Term Investments
(Cost $149,224,337) | |
| 154,744,244 | | |
| 100.0 | |
|
| | | |
Total
Investments in Securities
(Cost $149,224,337) | |
$ | 154,744,244 | | |
| 100.0 | |
|
| | | |
Assets in Excess of Other
Liabilities | |
| 48,485 | | |
| 0.0 | |
|
| | | |
Net Assets | |
$ | 154,792,729 | | |
| 100.0 | |
|
See
Accompanying Notes to Financial Statements
Voya
Target
Retirement 2025 Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) (continued) |
Fair
Value Measurements^
The
following is a summary of the fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant
Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table |
| Investments,
at fair value |
| Exchange-Traded
Funds | |
$ | 63,990,263 | | |
$ | — | | |
$ | — | | |
$ | 63,990,263 | |
| Mutual
Funds | |
| 90,753,981 | | |
| — | | |
| — | | |
| 90,753,981 | |
| Total
Investments, at fair value | |
$ | 154,744,244 | | |
$ | — | | |
$ | — | | |
$ | 154,744,244 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions
with Affiliates
An
investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results
in that issuer becoming an affiliated person as defined by the 1940 Act.
The
following table provides transactions during the period ended November 30, 2024, where the following issuers were considered an
affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change
In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya
Global Bond Fund - Class R6 | |
$ | 2,432,137 | | |
$ | 154,822 | | |
$ | (2,653,108 | ) | |
$ | 66,149 | | |
$ | — | | |
$ | 18,729 | | |
$ | (2,502 | ) | |
$ | — | |
| Voya
Intermediate Bond Fund - Class R6 | |
| 17,524,580 | | |
| 40,638,106 | | |
| (20,239,546 | ) | |
| (341,398 | ) | |
| 37,581,742 | | |
| 622,311 | | |
| 551,524 | | |
| — | |
| Voya
Multi-Manager International Equity Fund - Class I | |
| 3,052,968 | | |
| 8,085,954 | | |
| (5,834,102 | ) | |
| (309,047 | ) | |
| 4,995,773 | | |
| — | | |
| 230,867 | | |
| — | |
| Voya
Short Duration Bond Fund - Class R6 | |
| — | | |
| 7,516,935 | | |
| (153,288 | ) | |
| (49,905 | ) | |
| 7,313,742 | | |
| 55,369 | | |
| (1,757 | ) | |
| — | |
| Voya
VACS Series EME Fund | |
| 804,458 | | |
| 2,228,138 | | |
| (1,356,198 | ) | |
| (173,655 | ) | |
| 1,502,743 | | |
| — | | |
| 117,839 | | |
| — | |
| | |
$ | 23,814,143 | | |
$ | 58,623,955 | | |
$ | (30,236,242 | ) | |
$ | (807,856 | ) | |
$ | 51,394,000 | | |
$ | 696,409 | | |
$ | 895,971 | | |
$ | — | |
The
financial statements for the above mutual fund[s] can be found at www.sec.gov.
At
November 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation
of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $151,090,518. | |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 6,651,958 | |
| Gross Unrealized Depreciation | |
| (2,998,232 | ) |
| Net Unrealized Appreciation | |
$ | 3,653,726 | |
See
Accompanying Notes to Financial Statements
Voya
Target
Retirement 2030 Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) |
| Shares | | |
| |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 37.5% |
| 120,152 | | |
iShares Core S&P Mid- Cap ETF | |
$ | 8,098,245 | | |
| 5.0 | |
| 32,111 | | |
iShares Core S&P Small-Cap ETF | |
| 4,063,005 | | |
| 2.5 | |
| 197,059 | | |
iShares Core U.S. Aggregate Bond ETF | |
| 19,548,253 | | |
| 12.0 | |
| 184,126 | | |
Schwab U.S. TIPS ETF | |
| 4,862,767 | | |
| 3.0 | |
| 135,145 | | |
SPDR Portfolio High Yield Bond ETF | |
| 3,234,020 | | |
| 2.0 | |
| 275,811 | | |
Vanguard FTSE Developed Markets ETF | |
| 13,873,293 | | |
| 8.5 | |
| 88,427 | | |
Vanguard FTSE Emerging Markets ETF | |
| 4,029,618 | | |
| 2.5 | |
| 56,387 | | |
Vanguard
Long-Term Treasury ETF | |
| 3,327,961 | | |
| 2.0 | |
| | | |
Total Exchange-Traded Funds
(Cost $57,439,530) | |
| 61,037,162 | | |
| 37.5 | |
|
| MUTUAL FUNDS: 62.5% |
| |
|
|
Affiliated
Investment Companies: 28.1% |
| 3,348,476 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 29,433,104 | | |
| 18.1 | |
| 1,064,827 | | |
Voya Multi-Manager International Equity Fund - Class
I | |
| 11,383,001 | | |
| 7.0 | |
| 346,442 | | |
Voya Short Duration Bond Fund - Class R6 | |
| 3,239,230 | | |
| 2.0 | |
| 143,355 | | |
Voya VACS Series
EME Fund | |
| 1,589,807 | | |
| 1.0 | |
| | | |
| |
| 45,645,142 | | |
| 28.1 | |
| | | |
| |
| | | |
| | |
| |
|
|
Unaffiliated
Investment Companies: 34.4% |
| 841,008 | | |
Nuveen
S&P 500 Index Fund - Class R6 | |
| 56,027,946 | | |
| 34.4 | |
| | | |
Total Mutual Funds
(Cost $90,311,519) | |
| 101,673,088 | | |
| 62.5 | |
|
| | | |
Total Long-Term Investments
(Cost $147,751,049) | |
| 162,710,250 | | |
| 100.0 | |
|
| | | |
Total
Investments in Securities
(Cost $147,751,049) | |
$ | 162,710,250 | | |
| 100.0 | |
|
| | | |
Assets in Excess of Other
Liabilities | |
| 70,933 | | |
| 0.0 | |
|
| | | |
Net Assets | |
$ | 162,781,183 | | |
| 100.0 | |
|
See
Accompanying Notes to Financial Statements
Voya
Target
Retirement 2030 Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) (continued) |
Fair
Value Measurements^
The
following is a summary of the fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table |
| Investments, at fair value |
| Exchange-Traded Funds | |
$ | 61,037,162 | | |
$ | — | | |
$ | — | | |
$ | 61,037,162 | |
| Mutual Funds | |
| 101,673,088 | | |
| — | | |
| — | | |
| 101,673,088 | |
| Total Investments, at fair value | |
$ | 162,710,250 | | |
$ | — | | |
$ | — | | |
$ | 162,710,250 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions
with Affiliates
An
investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results
in that issuer becoming an affiliated person as defined by the 1940 Act.
The
following table provides transactions during the period ended November 30, 2024, where the following issuers were considered an
affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class
R6 | |
$ | 21,070,956 | | |
$ | 17,039,316 | | |
$ | (8,987,709 | ) | |
$ | 310,541 | | |
$ | 29,433,104 | | |
$ | 606,079 | | |
$ | 164,243 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class
I | |
| 8,463,116 | | |
| 7,020,692 | | |
| (3,663,563 | ) | |
| (437,244 | ) | |
| 11,383,001 | | |
| — | | |
| 458,389 | | |
| — | |
| Voya Short Duration Bond Fund - Class R6 | |
| — | | |
| 3,329,008 | | |
| (60,765 | ) | |
| (29,013 | ) | |
| 3,239,230 | | |
| 26,911 | | |
| (622 | ) | |
| — | |
| Voya VACS Series EME Fund | |
| 1,189,914 | | |
| 1,230,407 | | |
| (688,884 | ) | |
| (141,630 | ) | |
| 1,589,807 | | |
| — | | |
| 118,492 | | |
| — | |
| | |
$ | 30,723,986 | | |
$ | 28,619,423 | | |
$ | (13,400,921 | ) | |
$ | (297,346 | ) | |
$ | 45,645,142 | | |
$ | 632,990 | | |
$ | 740,502 | | |
$ | — | |
The
financial statements for the above mutual fund[s] can be found at www.sec.gov.
At
November 30, 2024, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation
of securities and other investments on a tax basis were:
| Cost for federal income tax purposes was $151,306,317. | |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 15,201,293 | |
| Gross Unrealized Depreciation | |
| (3,797,360 | ) |
| Net Unrealized Appreciation | |
$ | 11,403,933 | |
See
Accompanying Notes to Financial Statements
Voya
Target
Retirement 2035 Fund |
PORTFOLIO
OF INVESTMENTS
as of November 30, 2024
(Unaudited) |
| Shares | | |
| |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 33.9% |
| 165,289 | | |
iShares
Core S&P Mid- Cap ETF | |
$ | 11,140,479 | | |
| 5.0 | |
| 48,591 | | |
iShares
Core S&P Small-Cap ETF | |
| 6,148,219 | | |
| 2.8 | |
| 203,315 | | |
iShares
Core U.S. Aggregate Bond ETF | |
| 20,168,848 | | |
| 9.0 | |
| 185,913 | | |
SPDR
Portfolio High Yield Bond ETF | |
| 4,448,898 | | |
| 2.0 | |
| 468,698 | | |
Vanguard
FTSE Developed Markets ETF | |
| 23,575,510 | | |
| 10.6 | |
| 121,646 | | |
Vanguard
FTSE Emerging Markets ETF | |
| 5,543,408 | | |
| 2.5 | |
| 77,570 | | |
Vanguard
Long-Term Treasury ETF | |
| 4,578,181 | | |
| 2.0 | |
| | | |
Total
Exchange-Traded Funds
(Cost $71,396,225) | |
| 75,603,543 | | |
| 33.9 | |
|
| MUTUAL
FUNDS: 66.1% |
| |
|
|
Affiliated
Investment Companies: 25.0% |
| 3,823,213 | | |
Voya
Intermediate Bond Fund - Class R6 | |
| 33,606,043 | | |
| 15.0 | |
| 1,665,955 | | |
Voya
Multi-Manager International Equity Fund - Class I | |
| 17,809,058 | | |
| 8.0 | |
| 392,462 | | |
Voya
VACS Series EME Fund | |
| 4,352,404 | | |
| 2.0 | |
| | | |
| |
| 55,767,505 | | |
| 25.0 | |
| | | |
| |
| | | |
| | |
| |
|
|
Unaffiliated
Investment Companies: 41.1% |
| 1,379,908 | | |
Nuveen
S&P 500 Index Fund - Class R6 | |
| 91,929,477 | | |
| 41.1 | |
| | | |
Total
Mutual Funds
(Cost $133,709,861) | |
| 147,696,982 | | |
| 66.1 | |
|
| | | |
Total
Long-Term Investments
(Cost $205,106,086) | |
| 223,300,525 | | |
| 100.0 | |
|
| | | |
Total
Investments in Securities
(Cost $205,106,086) | |
$ | 223,300,525 | | |
| 100.0 | |
|
| | | |
Assets
in Excess of Other Liabilities | |
| 84,880 | | |
| 0.0 | |
|
| | | |
Net
Assets | |
$ | 223,385,405 | | |
| 100.0 | |
|
See
Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement
2035 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 75,603,543 | | |
$ | — | | |
$ | — | | |
$ | 75,603,543 | |
| Mutual Funds | |
| 147,696,982 | | |
| — | | |
| — | | |
| 147,696,982 | |
| Total Investments, at fair value | |
$ | 223,300,525 | | |
$ | — | | |
$ | — | | |
$ | 223,300,525 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 19,676,639 | | |
$ | 25,818,339 | | |
$ | (11,908,360 | ) | |
$ | 19,425 | | |
$ | 33,606,043 | | |
$ | 625,788 | | |
$ | 362,751 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 10,882,166 | | |
| 16,836,584 | | |
| (8,962,283 | ) | |
| (947,409 | ) | |
| 17,809,058 | | |
| — | | |
| 847,290 | | |
| — | |
| Voya VACS Series EME Fund | |
| 2,664,629 | | |
| 3,566,876 | | |
| (1,543,942 | ) | |
| (335,159 | ) | |
| 4,352,404 | | |
| — | | |
| 225,710 | | |
| — | |
| | |
$ | 33,223,434 | | |
$ | 46,221,799 | | |
$ | (22,414,585 | ) | |
$ | (1,263,143 | ) | |
$ | 55,767,505 | | |
$ | 625,788 | | |
$ | 1,435,751 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $208,488,378. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 19,032,373 | |
| Gross Unrealized Depreciation | |
| (4,220,226 | ) |
| Net Unrealized Appreciation | |
$ | 14,812,147 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2040 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | | |
| |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 31.5% |
| 105,594 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 7,117,036 | | |
| 6.0 | |
| 32,924 | | |
iShares Core S&P Small-Cap ETF | |
| 4,165,874 | | |
| 3.5 | |
| 24,053 | | |
iShares Core U.S. Aggregate Bond ETF | |
| 2,386,057 | | |
| 2.0 | |
| 98,974 | | |
SPDR Portfolio High Yield Bond ETF | |
| 2,368,448 | | |
| 2.0 | |
| 320,812 | | |
Vanguard FTSE Developed Markets ETF | |
| 16,136,843 | | |
| 13.5 | |
| 64,761 | | |
Vanguard FTSE Emerging Markets ETF | |
| 2,951,159 | | |
| 2.5 | |
| 41,296 | | |
Vanguard Long-Term Treasury ETF | |
| 2,437,290 | | |
| 2.0 | |
| | | |
Total Exchange-Traded Funds
(Cost $33,543,049) | |
| 37,562,707 | | |
| 31.5 | |
| MUTUAL FUNDS: 68.5% |
| | | |
Affiliated Investment Companies: 22.0% |
| 1,501,375 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 13,197,082 | | |
| 11.1 | |
| 894,577 | | |
Voya Multi-Manager International Equity Fund - Class I | |
| 9,563,027 | | |
| 8.0 | |
| 315,656 | | |
Voya VACS Series EME Fund | |
| 3,500,625 | | |
| 2.9 | |
| | | |
| |
| 26,260,734 | | |
| 22.0 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 46.5% |
| 831,512 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 55,395,311 | | |
| 46.5 | |
| | | |
Total Mutual Funds
(Cost $66,080,886) | |
| 81,656,045 | | |
| 68.5 | |
| | | |
Total Long-Term Investments
(Cost $99,623,935) | |
| 119,218,752 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $99,623,935) | |
$ | 119,218,752 | | |
| 100.0 | |
| | | |
Assets in Excess of Other Liabilities | |
| 48,292 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 119,267,044 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2040 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted
Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant
Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair
Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 37,562,707 | | |
$ | — | | |
$ | — | | |
$ | 37,562,707 | |
| Mutual Funds | |
| 81,656,045 | | |
| — | | |
| — | | |
| 81,656,045 | |
| Total Investments, at fair value | |
$ | 119,218,752 | | |
$ | — | | |
$ | — | | |
$ | 119,218,752 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 11,496,995 | | |
$ | 2,269,686 | | |
$ | (863,668 | ) | |
$ | 294,069 | | |
$ | 13,197,082 | | |
$ | 306,127 | | |
$ | 6,070 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 8,710,289 | | |
| 2,160,592 | | |
| (1,270,286 | ) | |
| (37,568 | ) | |
| 9,563,027 | | |
| — | | |
| 150,933 | | |
| — | |
| Voya VACS Series EME Fund | |
| 3,137,563 | | |
| 619,462 | | |
| (233,381 | ) | |
| (23,019 | ) | |
| 3,500,625 | | |
| — | | |
| 30,346 | | |
| — | |
| | |
$ | 23,344,847 | | |
$ | 5,049,740 | | |
$ | (2,367,335 | ) | |
$ | 233,482 | | |
$ | 26,260,734 | | |
$ | 306,127 | | |
$ | 187,349 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $102,474,986. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 16,743,766 | |
| Gross Unrealized Depreciation | |
| — | |
| Net Unrealized Appreciation | |
$ | 16,743,766 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2045 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | | |
| |
Value | | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 31.8% |
| 172,338 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 11,615,581 | | |
| 6.0 | |
| 57,572 | | |
iShares Core S&P Small-Cap ETF | |
| 7,284,585 | | |
| 3.7 | |
| 161,535 | | |
SPDR Portfolio High Yield Bond ETF | |
| 3,865,532 | | |
| 2.0 | |
| 601,163 | | |
Vanguard FTSE Developed Markets ETF | |
| 30,238,499 | | |
| 15.6 | |
| 147,973 | | |
Vanguard FTSE Emerging Markets ETF | |
| 6,743,130 | | |
| 3.5 | |
| 33,699 | | |
Vanguard Long-Term Treasury
ETF | |
| 1,988,915 | | |
| 1.0 | |
| | | |
Total Exchange-Traded Funds
(Cost $56,676,137) | |
| 61,736,242 | | |
| 31.8 | |
| MUTUAL FUNDS: 68.2% |
| | | |
Affiliated Investment Companies: 17.0% |
| 1,335,713 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 11,740,914 | | |
| 6.1 | |
| 1,458,844 | | |
Voya Multi-Manager International Equity Fund - Class
I | |
| 15,595,042 | | |
| 8.0 | |
| 514,973 | | |
Voya VACS Series EME Fund | |
| 5,711,055 | | |
| 2.9 | |
| | | |
| |
| 33,047,011 | | |
| 17.0 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 51.2% |
| 1,494,988 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 99,596,123 | | |
| 51.2 | |
| | | |
Total Mutual Funds
(Cost $116,813,915) | |
| 132,643,134 | | |
| 68.2 | |
| | | |
Total Long-Term Investments
(Cost $173,490,052) | |
| 194,379,376 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $173,490,052) | |
$ | 194,379,376 | | |
| 100.0 | |
| | | |
Assets in Excess of Other
Liabilities | |
| 69,091 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 194,448,467 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2045 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 61,736,242 | | |
$ | — | | |
$ | — | | |
$ | 61,736,242 | |
| Mutual Funds | |
| 132,643,134 | | |
| — | | |
| — | | |
| 132,643,134 | |
| Total Investments, at fair value | |
$ | 194,379,376 | | |
$ | — | | |
$ | — | | |
$ | 194,379,376 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 6,891,020 | | |
$ | 7,277,076 | | |
$ | (2,526,262 | ) | |
$ | 99,080 | | |
$ | 11,740,914 | | |
$ | 217,837 | | |
$ | 43,109 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 9,605,996 | | |
| 17,889,664 | | |
| (10,944,838 | ) | |
| (955,780 | ) | |
| 15,595,042 | | |
| — | | |
| 850,359 | | |
| — | |
| Voya VACS Series EME Fund | |
| 3,458,792 | | |
| 4,608,573 | | |
| (1,923,455 | ) | |
| (432,855 | ) | |
| 5,711,055 | | |
| — | | |
| 280,081 | | |
| — | |
| | |
$ | 19,955,808 | | |
$ | 29,775,313 | | |
$ | (15,394,555 | ) | |
$ | (1,289,555 | ) | |
$ | 33,047,011 | | |
$ | 217,837 | | |
$ | 1,173,549 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $176,305,502. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 21,716,329 | |
| Gross Unrealized Depreciation | |
| (3,642,455 | ) |
| Net Unrealized Appreciation | |
$ | 18,073,874 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2050 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | |
| |
Value | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 29.8% |
| 101,974 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 6,873,048 | | |
| 7.0 | |
| 29,200 | | |
iShares Core S&P Small-Cap ETF | |
| 3,694,676 | | |
| 3.7 | |
| 304,898 | | |
Vanguard FTSE Developed Markets ETF | |
| 15,336,369 | | |
| 15.6 | |
| 75,049 | | |
Vanguard FTSE Emerging Markets ETF | |
| 3,419,983 | | |
| 3.5 | |
| | | |
Total Exchange-Traded Funds
(Cost $25,477,495) | |
| 29,324,076 | | |
| 29.8 | |
| MUTUAL FUNDS: 70.2% |
| | | |
Affiliated Investment Companies: 17.0% |
| 676,204 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 5,943,835 | | |
| 6.1 | |
| 737,515 | | |
Voya Multi-Manager International Equity Fund - Class I | |
| 7,884,037 | | |
| 8.0 | |
| 260,562 | | |
Voya VACS Series EME Fund | |
| 2,889,630 | | |
| 2.9 | |
| | | |
| |
| 16,717,502 | | |
| 17.0 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 53.2% |
| 786,775 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 52,414,964 | | |
| 53.2 | |
| | | |
Total Mutual Funds
(Cost $54,814,458) | |
| 69,132,466 | | |
| 70.2 | |
| | | |
Total Long-Term Investments
(Cost $80,291,953) | |
| 98,456,542 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $80,291,953) | |
$ | 98,456,542 | | |
| 100.0 | |
| | | |
Assets in Excess of Other Liabilities | |
| 38,008 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 98,494,550 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2050 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 29,324,076 | | |
$ | — | | |
$ | — | | |
$ | 29,324,076 | |
| Mutual Funds | |
| 69,132,466 | | |
| — | | |
| — | | |
| 69,132,466 | |
| Total Investments, at fair value | |
$ | 98,456,542 | | |
$ | — | | |
$ | — | | |
$ | 98,456,542 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 4,181,362 | | |
$ | 1,890,577 | | |
$ | (242,867 | ) | |
$ | 114,763 | | |
$ | 5,943,835 | | |
$ | 129,936 | | |
$ | (380 | ) | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 6,896,270 | | |
| 2,296,965 | | |
| (1,253,151 | ) | |
| (56,047 | ) | |
| 7,884,037 | | |
| — | | |
| 163,707 | | |
| — | |
| Voya VACS Series EME Fund | |
| 2,510,177 | | |
| 614,035 | | |
| (210,158 | ) | |
| (24,424 | ) | |
| 2,889,630 | | |
| — | | |
| 28,942 | | |
| — | |
| | |
$ | 13,587,809 | | |
$ | 4,801,577 | | |
$ | (1,706,176 | ) | |
$ | 34,292 | | |
$ | 16,717,502 | | |
$ | 129,936 | | |
$ | 192,269 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $82,359,085. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 16,097,457 | |
| Gross Unrealized Depreciation | |
| — | |
| Net Unrealized Appreciation | |
$ | 16,097,457 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2055 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | |
| |
Value | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 29.9% |
| 138,279 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 9,320,005 | | |
| 7.0 | |
| 39,595 | | |
iShares Core S&P Small-Cap ETF | |
| 5,009,955 | | |
| 3.8 | |
| 413,449 | | |
Vanguard FTSE Developed Markets ETF | |
| 20,796,485 | | |
| 15.6 | |
| 101,768 | | |
Vanguard FTSE Emerging Markets ETF | |
| 4,637,568 | | |
| 3.5 | |
| | | |
Total Exchange-Traded Funds
(Cost $36,310,723) | |
| 39,764,013 | | |
| 29.9 | |
| MUTUAL FUNDS: 70.1% |
| | | |
Affiliated Investment Companies: 15.9% |
| 761,989 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 6,697,882 | | |
| 5.0 | |
| 991,571 | | |
Voya Multi-Manager International Equity Fund - Class I | |
| 10,599,891 | | |
| 8.0 | |
| 351,107 | | |
Voya VACS Series EME Fund | |
| 3,893,771 | | |
| 2.9 | |
| | | |
| |
| 21,191,544 | | |
| 15.9 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 54.2% |
| 1,083,181 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 72,161,536 | | |
| 54.2 | |
| | | |
Total Mutual Funds
(Cost $82,028,168) | |
| 93,353,080 | | |
| 70.1 | |
| | | |
Total Long-Term Investments
(Cost $118,338,891) | |
| 133,117,093 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $118,338,891) | |
$ | 133,117,093 | | |
| 100.0 | |
| | | |
Assets in Excess of Other Liabilities | |
| 37,873 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 133,154,966 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2055 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 39,764,013 | | |
$ | — | | |
$ | — | | |
$ | 39,764,013 | |
| Mutual Funds | |
| 93,353,080 | | |
| — | | |
| — | | |
| 93,353,080 | |
| Total Investments, at fair value | |
$ | 133,117,093 | | |
$ | — | | |
$ | — | | |
$ | 133,117,093 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 2,994,459 | | |
$ | 3,831,560 | | |
$ | (192,136 | ) | |
$ | 63,999 | | |
$ | 6,697,882 | | |
$ | 117,387 | | |
$ | 185 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 6,433,570 | | |
| 12,216,524 | | |
| (7,410,058 | ) | |
| (640,145 | ) | |
| 10,599,891 | | |
| — | | |
| 603,956 | | |
| — | |
| Voya VACS Series EME Fund | |
| 2,293,474 | | |
| 3,134,437 | | |
| (1,252,498 | ) | |
| (281,642 | ) | |
| 3,893,771 | | |
| — | | |
| 184,788 | | |
| — | |
| | |
$ | 11,721,503 | | |
$ | 19,182,521 | | |
$ | (8,854,692 | ) | |
$ | (857,788 | ) | |
$ | 21,191,544 | | |
$ | 117,387 | | |
$ | 788,929 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $119,945,742. | |
| |
| Net unrealized appreciation consisted of: | |
| | |
| Gross Unrealized Appreciation | |
$ | 15,317,233 | |
| Gross Unrealized Depreciation | |
| (2,145,882 | ) |
| Net Unrealized Appreciation | |
$ | 13,171,351 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2060 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | |
| |
Value | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 29.7% |
| 57,746 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 3,892,080 | | |
| 7.0 | |
| 16,535 | | |
iShares Core S&P Small-Cap ETF | |
| 2,092,174 | | |
| 3.7 | |
| 172,659 | | |
Vanguard FTSE Developed Markets ETF | |
| 8,684,748 | | |
| 15.5 | |
| 42,499 | | |
Vanguard FTSE Emerging Markets ETF | |
| 1,936,679 | | |
| 3.5 | |
| | | |
Total Exchange-Traded Funds
(Cost $14,555,800) | |
| 16,605,681 | | |
| 29.7 | |
| MUTUAL FUNDS: 70.3% |
| | | |
Affiliated Investment Companies: 16.0% |
| 320,283 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 2,815,285 | | |
| 5.0 | |
| 422,290 | | |
Voya Multi-Manager International Equity Fund - Class I | |
| 4,514,280 | | |
| 8.1 | |
| 148,756 | | |
Voya VACS Series EME Fund | |
| 1,649,703 | | |
| 2.9 | |
| | | |
| |
| 8,979,268 | | |
| 16.0 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 54.3% |
| 455,924 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 30,373,687 | | |
| 54.3 | |
| | | |
Total Mutual Funds
(Cost $31,857,479) | |
| 39,352,955 | | |
| 70.3 | |
| | | |
Total Long-Term Investments
(Cost $46,413,279) | |
| 55,958,636 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $46,413,279) | |
$ | 55,958,636 | | |
| 100.0 | |
| | | |
Assets in Excess of Other Liabilities | |
| 12,461 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 55,971,097 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2060 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 16,605,681 | | |
$ | — | | |
$ | — | | |
$ | 16,605,681 | |
| Mutual Funds | |
| 39,352,955 | | |
| — | | |
| — | | |
| 39,352,955 | |
| Total Investments, at fair value | |
$ | 55,958,636 | | |
$ | — | | |
$ | — | | |
$ | 55,958,636 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 1,806,841 | | |
$ | 1,047,472 | | |
$ | (89,695 | ) | |
$ | 50,667 | | |
$ | 2,815,285 | | |
$ | 60,369 | | |
$ | 478 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 4,039,616 | | |
| 1,638,778 | | |
| (1,084,883 | ) | |
| (79,231 | ) | |
| 4,514,280 | | |
| — | | |
| 141,422 | | |
| — | |
| Voya VACS Series EME Fund | |
| 1,389,465 | | |
| 414,612 | | |
| (140,570 | ) | |
| (13,804 | ) | |
| 1,649,703 | | |
| — | | |
| 14,535 | | |
| — | |
| | |
$ | 7,235,922 | | |
$ | 3,100,862 | | |
$ | (1,315,148 | ) | |
$ | (42,368 | ) | |
$ | 8,979,268 | | |
$ | 60,369 | | |
$ | 156,435 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $47,441,907. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 8,516,729 | |
| Gross Unrealized Depreciation | |
| — | |
| Net Unrealized Appreciation | |
$ | 8,516,729 | |
See Accompanying Notes to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2065 Fund |
as
of November 30, 2024 (Unaudited) |
| Shares | |
| |
Value | |
Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 29.6% |
| 21,875 | | |
iShares Core S&P Mid-Cap ETF | |
$ | 1,474,375 | | |
| 6.7 | |
| 6,264 | | |
iShares Core S&P Small-Cap ETF | |
| 792,584 | | |
| 3.6 | |
| 69,624 | | |
Vanguard FTSE Developed Markets ETF | |
| 3,502,087 | | |
| 16.0 | |
| 16,099 | | |
Vanguard FTSE Emerging Markets ETF | |
| 733,631 | | |
| 3.3 | |
| | | |
Total Exchange-Traded Funds
(Cost $5,794,761) | |
| 6,502,677 | | |
| 29.6 | |
| MUTUAL FUNDS: 70.4% |
| | | |
Affiliated Investment Companies: 15.7% |
| 100,513 | | |
Voya Intermediate Bond Fund - Class R6 | |
| 883,507 | | |
| 4.0 | |
| 177,438 | | |
Voya Multi-Manager International Equity Fund - Class I | |
| 1,896,808 | | |
| 8.6 | |
| 60,711 | | |
Voya VACS Series EME Fund | |
| 673,290 | | |
| 3.1 | |
| | | |
| |
| 3,453,605 | | |
| 15.7 | |
| | | |
| |
| | | |
| | |
| | | |
Unaffiliated Investment Companies: 54.7% |
| 180,115 | | |
Nuveen S&P 500 Index Fund - Class R6 | |
| 11,999,279 | | |
| 54.7 | |
| | | |
Total Mutual Funds
(Cost $13,125,707) | |
| 15,452,884 | | |
| 70.4 | |
| | | |
Total Long-Term Investments
(Cost $18,920,468) | |
| 21,955,561 | | |
| 100.0 | |
| | | |
Total Investments in Securities
(Cost $18,920,468) | |
$ | 21,955,561 | | |
| 100.0 | |
| | | |
Assets in Excess of Other Liabilities | |
| 8,704 | | |
| 0.0 | |
| | | |
Net Assets | |
$ | 21,964,265 | | |
| 100.0 | |
See Accompanying Notes
to Financial Statements
| Voya
Target |
PORTFOLIO
OF INVESTMENTS |
| Retirement 2065 Fund |
as
of November 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the
fair valuations according to the inputs used as of November 30, 2024 in valuing the assets and liabilities:
| | |
Quoted Prices
in Active Markets
for Identical
Investments
(Level 1) | | |
Significant Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | | |
Fair Value
at
November 30,
2024 | |
| Asset Table | |
| | | |
| | | |
| | | |
| | |
| Investments, at fair value | |
| | | |
| | | |
| | | |
| | |
| Exchange-Traded Funds | |
$ | 6,502,677 | | |
$ | — | | |
$ | — | | |
$ | 6,502,677 | |
| Mutual Funds | |
| 15,452,884 | | |
| — | | |
| — | | |
| 15,452,884 | |
| Total Investments, at fair value | |
$ | 21,955,561 | | |
$ | — | | |
$ | — | | |
$ | 21,955,561 | |
| ^ | See
Note 2, “Significant Accounting Policies” in the Notes to Financial Statements
for additional information. |
Transactions with Affiliates
An investment of at least 5% of the voting securities
of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person
as defined by the 1940 Act.
The following table provides transactions during the
period ended November 30, 2024, where the following issuers were considered an affiliate:
| Issuer | |
Beginning
Fair Value
at 5/31/2024 | | |
Purchases
at Cost | | |
Sales
at Cost | | |
Change In
Unrealized
Appreciation/
(Depreciation) | | |
Ending
Fair
Value at
11/30/2024 | | |
Investment
Income | | |
Realized
Gains/
(Losses) | | |
Net
Capital
Gain
Distributions | |
| Voya Intermediate Bond Fund - Class R6 | |
$ | 446,109 | | |
$ | 454,163 | | |
$ | (28,717 | ) | |
$ | 11,952 | | |
$ | 883,507 | | |
$ | 16,667 | | |
$ | 71 | | |
$ | — | |
| Voya Multi-Manager International Equity Fund - Class I | |
| 1,334,744 | | |
| 1,407,665 | | |
| (769,298 | ) | |
| (76,303 | ) | |
| 1,896,808 | | |
| — | | |
| 90,156 | | |
| — | |
| Voya VACS Series EME Fund | |
| 452,582 | | |
| 342,991 | | |
| (99,487 | ) | |
| (22,796 | ) | |
| 673,290 | | |
| — | | |
| 16,340 | | |
| — | |
| | |
$ | 2,233,435 | | |
$ | 2,204,819 | | |
$ | (897,502 | ) | |
$ | (87,147 | ) | |
$ | 3,453,605 | | |
$ | 16,667 | | |
$ | 106,567 | | |
$ | — | |
The financial statements for the above mutual fund[s] can be
found at www.sec.gov.
At November 30, 2024, the aggregate cost of securities
and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a
tax basis were:
| Cost for federal income tax purposes was $19,239,269. | |
| |
| Net unrealized appreciation consisted of: | |
| |
| Gross Unrealized Appreciation | |
$ | 3,052,896 | |
| Gross Unrealized Depreciation | |
| (336,604 | ) |
| Net Unrealized Appreciation | |
$ | 2,716,292 | |
See Accompanying Notes to Financial Statements
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited)
BOARD
CONSIDERATION AND APPROVAL OF INVESTMENT MANAGEMENT CONTRACTS AND SUB-ADVISORY CONTRACTS
At
a meeting held on November 14, 2024, the Board of Trustees (“Board”) of Voya Separate Portfolios Trust (the “Trust”),
including a majority of the Board members who have no direct or indirect interest in the investment management and sub-advisory
contracts, and who are not “interested persons” of Voya Target In-Retirement Fund, Voya Target Retirement 2025 Fund,
Voya Target Retirement 2030 Fund, Voya Target Retirement 2035 Fund, Voya Target Retirement 2040 Fund, Voya Target Retirement 2045
Fund, Voya Target Retirement 2050 Fund, Voya Target Retirement 2055 Fund, Voya Target Retirement 2060 Fund, and Voya Target Retirement
2065 Fund, each a series of the Trust (the “Funds”), as such term is defined under the Investment Company Act of 1940,
as amended (the “Independent Trustees”), considered and approved the renewal of the investment management contracts
(the “Management Contracts”) between Voya Investments, LLC (the “Manager”) and the Trust, on behalf of
the Funds, and the sub-advisory contracts (the “Sub-Advisory Contracts,” and together with the Management Contracts,
the “Contracts”) with Voya Investment Management Co. LLC, the sub-adviser to each Fund (the “Sub-Adviser”),
for an additional one-year period ending November 30, 2025.
In
addition to the Board meeting on November 14, 2024, the Independent Trustees also held meetings outside the presence of representatives
of the Manager and Sub-Adviser (collectively, such persons are referred to herein as “management”) on October 9, 2024
and November 12, 2024. At those meetings, the Board members reviewed and considered materials related to the proposed continuance
of the Contracts that they had requested and believed to be relevant to the renewal of the Contracts in light of their own business
judgment and the legal advice furnished to them by K&L Gates LLP, their independent legal counsel. The Board also considered
information furnished to it throughout the year at meetings of the Board and its committees, including information regarding performance,
expenses, and other relevant matters. While the Board considered the renewal of the management contracts and sub-advisory contracts
for all of the applicable investment companies in the Voya family of funds at the same meetings, the Board considered each Voya
fund’s investment management and sub-advisory relationships separately.
The
Board has established a Contracts Committee and two Investment Review Committees (the “IRCs”), each of which includes
only Independent Trustees as members. The Contracts Committee meets several times throughout the year to provide oversight with
respect to the management and sub-advisory contracts approval and renewal process
for
the Voya funds, among other functions, and each IRC meets several times throughout the year with respect to each Voya fund (assigned
to that IRC) to provide oversight regarding the investment performance of the sub-advisers, as well as the Manager’s role
in monitoring the sub-advisers.
The
Contracts Committee oversees, and annually recommends Board approval of updates to, a methodology guide for the Voya funds (“Methodology
Guide”), which sets out a framework pursuant to which the Independent Trustees request, and management provides, certain
information that the Independent Trustees deem to be important or potentially relevant to the contracts renewal process for the
Voya funds. The Independent Trustees retain the services of an independent consultant with experience in the mutual fund industry
to assist the Contracts Committee in developing and recommending to the Board: (1) a selected peer group of investment companies
for each Fund (“Selected Peer Group”) based on that Fund’s particular attributes; and (2) updates to the Methodology
Guide with respect to the content and format of various data prepared in connection with the renewal process.
The
Manager or Sub-Adviser may not have been able to, or opted not to, provide information in response to certain information requests,
in which case the Board conducted its evaluation based on the information that was provided. In such cases, the omission of any
such information was not deemed to be material to the Board’s considerations.
Provided
below is an overview of certain material factors that the Board considered at its meetings regarding the renewal of the Contracts
and the compensation to be paid thereunder. The Board members did not identify any particular information or factor that was most
relevant to its consideration.
Nature,
Extent and Quality of Services
The
Manager oversees, subject to the authority of the Board, and is responsible for the provision of, all investment advisory and
portfolio management services for the Funds, but may delegate certain of these responsibilities to one or more sub-advisers. In
addition, the Manager provides administrative services reasonably necessary for the operation of the Funds as set forth in the
Management Contracts, including oversight of the Funds’ operations and risk management and the oversight of their various
other service providers.
The
Board considered the “manager-of-managers” structure of the Voya funds that has been developed by the Manager pursuant
to which the Manager selects, subject to the Board’s approval, sub-advisers to provide day-to-day
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
management
services to all or a portion of each Voya fund. The Board recognized that the Manager is responsible for monitoring the Sub-Adviser’s
investment program, performance, developments, ongoing operations, and compliance with applicable regulations and investment policies
and restrictions with respect to the Funds under this manager-of-managers arrangement. The Board also considered the techniques
and resources that the Manager has developed to provide this ongoing due diligence and oversight with respect to the sub-advisers
and to recommend appropriate changes in investment strategies, sub-advisers, or allocation among sub-advisers in an effort to
improve a Voya fund’s performance. In connection with the Manager’s performance of these duties, the Board considered
that the Manager has developed an oversight process formulated by its Manager Research & Selection Group that reviews, among
other matters, performance data, the Sub-Adviser’s management team, portfolio data and attribution analysis related to the
Sub-Adviser through various means, including, but not limited to, in-person meetings, on-site or virtual visits, and telephonic
meetings with the Sub-Adviser.
Further,
the Board considered periodic compliance reports it receives from the Trust’s Chief Compliance Officer evaluating, among
other related matters, whether the regulatory compliance systems and procedures of the Manager and Sub-Adviser are reasonably
designed to ensure compliance with the federal securities laws and whether the investment policies and restrictions for each Fund
are complied with on a consistent basis.
The
Board considered the portfolio management team assigned by the Sub-Adviser to the Funds and the level of resources committed to
the Funds (and other relevant funds in the Voya funds) by the Manager and the Sub-Adviser, and whether those resources are sufficient
to provide high-quality services to the Funds.
Based
on their deliberations and the materials presented to them, the Board concluded that the nature, extent and quality of the overall
services provided by the Manager and Sub-Adviser under the Contracts were appropriate.
Fund
Performance
In
assessing the investment management and sub-advisory relationships, the Board placed emphasis on the investment returns of each
Fund, including its investment performance over certain time periods compared to the Fund’s Morningstar, Inc. (“Morningstar,”
an independent provider of mutual fund data) category and primary benchmark, a broad-based securities market index. The Board
also considered information from the Manager Research & Selection Group and received reports summarizing a
separate
analysis of each Fund’s performance and risk, including risk-adjusted investment return information, from the Trust’s
Chief Investment Risk Officer.
Economies
of Scale
When
evaluating the reasonableness of the management fee schedules, the Board considered whether economies of scale have been or likely
will be realized by the Manager and the Sub-Adviser if and when a Fund grows larger and the extent to which any such economies
are shared with the Fund. The Board also considered that, while the Funds do not have management fee breakpoints, they have fee
waiver and expense reimbursement arrangements. The Board considered the extent to which economies of scale realized by the Manager
could be shared with each Fund through such fee waivers, expense reimbursements or other expense reductions.
Information
Regarding Services, Performance, and Fee Schedules Offered to Other Clients
The
Board considered comparative information regarding the nature of services, performance, and fee schedules offered by the Manager
and Sub-Adviser to other clients with similar investment objectives, if applicable, including other registered investment companies
and relevant institutional accounts. When the fee schedules offered to or the performance of such other clients differed materially
from a Fund, the Board took into account the underlying rationale provided by the Manager or Sub-Adviser, as applicable, for these
differences.
Fee
Schedules, Profitability, and Fall-out Benefits
The
Board reviewed and considered the contractual management fee schedule and net management fee rate payable by each Fund to the
Manager compared to the Fund’s Selected Peer Group and which additional services the Manager pays for on behalf of the Funds
under the “bundled fee” arrangement in return for a single management fee (“Bundled Fee Structure”). The
Board also considered the compensation payable by the Manager to the Sub-Adviser for sub-advisory services for each Fund, including
the portion of the contractual and net management fee rates that are paid to the Sub-Adviser, as compared to the compensation
paid to the Manager. In addition, the Board considered any fee waivers, expense limitations, and recoupment arrangements that
apply to the fees payable by the Funds, including whether the Manager proposed any changes thereto. For each Fund, the Board separately
determined that the fees payable to the Manager and the fee schedule payable to the Sub-Adviser are reasonable for the services
that each performs, which were considered in light of the nature, extent and quality
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
of
the services that each has performed and is expected to perform.
For
each Fund, the Board considered information on revenues, costs and profits or losses realized by the Manager and the Voya-affiliated
Sub-Adviser related to their services to the Fund. In analyzing the profitability of the Manager and its affiliates in connection
with services they render to a Fund, the Board took into account the sub-advisory fee rate payable by the Manager to the Sub-Adviser.
The Board also considered the profitability of the Manager and its affiliated Sub-Adviser attributable to servicing each Fund
both with and without taking into account the profitability of the distributor of the Funds and any revenue sharing payments made
by, or other distribution related expenses incurred by, the Manager.
Although
the Methodology Guide establishes a framework for profit calculation by the Manager and its affiliated Sub-Adviser, the Board
recognized that there is no uniform methodology within the asset management industry for determining profitability for this purpose.
The Board also recognized that the use of different reasonable methodologies can give rise to dramatically different reported
profit and loss results with respect to the Manager and the Voya-affiliated Sub-Adviser, as well as other industry participants
with whom the profits of the Manager and its affiliated Sub-Adviser could be compared. In addition, the Board recognized that
management’s calculations regarding its costs incurred in establishing the infrastructure necessary for the Funds’
operations may not be fully reflected in the expenses allocated to each Fund in determining profitability. The Board also recognized
that the information presented may not portray all of the costs borne by the Manager or reflect all of the risks associated with
offering and managing a mutual fund complex in the current regulatory and market environment, including entrepreneurial, regulatory,
legal and operational risks.
The
Board also considered that the Manager and the Voya-affiliated Sub-Adviser are entitled to earn a reasonable level of profits
for the services that they provide to the Funds. The Board also considered information regarding the potential fall-out benefits
to the Manager and Sub-Adviser and their respective affiliates from their association with the Funds. Following its reviews, the
Board determined that the Manager’s and the Voya-affiliated Sub-Adviser’s profitability with respect to their services
to the Funds and the Manager and Sub-Adviser’s potential fall-out benefits were not unreasonable.
Fund-by-Fund
Analysis
Set
forth below are certain of the specific factors that the Board considered at its October 9, 2024, November 12,
2024,
and/or November 14, 2024 meetings in relation to approving each Fund’s Contracts and the conclusions reached by the Board.
These specific factors are in addition to those considerations discussed above. The performance data provided to the Board primarily
was for various periods ended March 31, 2024. In addition, the Board also considered at its October 9, 2024, November 12, 2024,
and/or November 14, 2024 meetings certain additional data regarding each Fund’s more recent performance, asset levels and
asset flows. Each Fund’s management fee rate and expense ratios were compared to the management fee rates and expense ratios
of the funds in its Selected Peer Group. With respect to the quintile rankings noted below, the first quintile represents the
range of funds with the highest performance or the lowest management fee rate or expense ratio, as applicable, and the fifth quintile
represents the range of funds with the lowest performance or the highest management fee rate or expense ratio, as applicable.
Voya
Target In-Retirement Fund
In
considering whether to approve the renewal of the Contracts for Voya Target In-Retirement Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the second quintile of its Morningstar category
for the ten-year period and the third quintile for the year-to-date, one-year, three-year and five-year periods; and (2) the Fund
outperformed its primary benchmark for all periods presented, with the exception of the three-year and five-year periods, during
which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median. In analyzing this fee data, the Board took into account (1) that, as reflected
in the AFFE, the Fund indirectly bears the fees payable by the underlying funds in which the Fund invests; and (2) the expense
borne by the Manager for the provision of most services by certain third parties to the Fund, such as transfer agency (excluding
sub-transfer agency), custody, accounting, and legal services, pursuant to the Fund’s Bundled Fee Structure.
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
Voya
Target Retirement 2025 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2025 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the second quintile of its Morningstar category
for the year-to-date, one-year and three-year periods and the third quintile for the five-year and ten-year periods; and (2) the
Fund underperformed its primary benchmark for all periods presented, with the exception of the year-to-date and one-year periods,
during which it outperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2030 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2030 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the first quintile of its Morningstar category
for the one-year period and the second quintile for the year-to-date, three-year, five-year and ten-year periods; and (2) the
Fund outperformed its primary benchmark for all periods presented, with the exception of the three-year and ten-year periods,
during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in
the
second quintile; (b) the Fund’s contractual management fee rate is ranked in the second quintile; and (c) the Fund’s
all-in net expense ratio, inclusive of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile,
and the Fund’s net expense ratio , not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2035 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2035 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the first quintile of its Morningstar category
for the three-year and five-year periods and the second quintile for the year-to-date, one-year and ten-year periods; and (2)
the Fund outperformed its primary benchmark for all periods presented, with the exception of the three-year and ten-year periods,
during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2040 Fund
In
considering whether to approve the renewal of the
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
Contracts
for Voya Target Retirement 2040 Fund, the Board considered that, based on performance data for the periods ended March 31, 2024:
(1) the Fund is ranked in the first quintile of its Morningstar category for the three-year and five-year periods and the second
quintile for the year-to-date, one-year and ten-year periods; and (2) the Fund outperformed its primary benchmark for all periods
presented, with the exception of the three-year period, during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2045 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2045 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the first quintile of its Morningstar category
for the three-year and five-year periods, the second quintile for the one-year and ten-year periods and the third quintile for
the year-to-date period; and (2) the Fund outperformed its primary benchmark for all periods presented, with the exception of
the three-year period, during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund
Fees
and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense ratio, not inclusive of AFFE,
is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2050 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2050 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the first quintile of its Morningstar category
for the five-year period, the second quintile for the one-year, three-year and ten-year periods and the third quintile for the
year-to-date period; and (2) the Fund outperformed its primary benchmark for all periods presented, with the exception of the
three-year period, during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2055 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2055 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
the
first quintile of its Morningstar category for the five-year period, the second quintile for the one-year, three-year and ten-year
periods and the third quintile for the year-to-date period; and (2) the Fund outperformed its primary benchmark for all periods
presented, with the exception of the three-year period, during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2060 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2060 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the first quintile of its Morningstar category
for the five-year period, the second quintile for the three-year period and the third quintile for the year-to-date and one-year
periods; and (2) the Fund outperformed its primary benchmark for all periods presented, with the exception of the three-year period,
during which it underperformed.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the second quintile; (b) the Fund’s
contractual management fee rate is ranked in the second quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Voya
Target Retirement 2065 Fund
In
considering whether to approve the renewal of the Contracts for Voya Target Retirement 2065 Fund, the Board considered that, based
on performance data for the periods ended March 31, 2024: (1) the Fund is ranked in the second quintile of its Morningstar category
for the three-year period and the third quintile for the year-to-date and one-year periods; and (2) the Fund outperformed its
primary benchmark for the year-to-date and one-year periods and underperformed for the three-year period.
In
considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also
considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its
Selected Peer Group, including that: (a) the Fund’s net management fee rate is ranked in the third quintile; (b) the Fund’s
contractual management fee rate is ranked in the first quintile; and (c) the Fund’s all-in net expense ratio, inclusive
of the Acquired Fund Fees and Expenses (“AFFE”), is ranked in the first quintile, and the Fund’s net expense
ratio, not inclusive of AFFE, is below the median.
In
analyzing this fee data, the Board took into account (1) that, as reflected in the AFFE, the Fund indirectly bears the fees payable
by the underlying funds in which the Fund invests; and (2) the expense borne by the Manager for the provision of most services
by certain third parties to the Fund, such as transfer agency (excluding sub-transfer agency), custody, accounting, and legal
services, pursuant to the Fund’s Bundled Fee Structure.
Board
Conclusions
After
its deliberation, the Board concluded that, in its business judgment, the terms of the Contracts are fair and reasonable to each
Fund and that approval of the continuation of the Contracts is in the best interests of each Fund and its shareholders. In doing
so, the Board reviewed all factors it considered to be material, including those discussed above. Within the context of its overall
conclusions regarding the Contracts, and based on the information provided and management’s related
ADVISORY
AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)
representations,
the Board concluded that it was satisfied with management’s responses relating to each Fund’s investment performance
and the fees payable under the Contracts. During this renewal process, each Board member may have accorded different weight to
various factors in reaching his or her conclusions. Based on these conclusions and other factors, the Board voted to renew the
Contracts for each Fund for the year ending November 30, 2025.
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| Investment Adviser |
Custodian |
| Voya Investments, LLC |
The Bank of New York Mellon |
| 7337 East Doubletree Ranch Road, Suite 100 |
225 Liberty Street |
| Scottsdale, Arizona 85258 |
New York, New York 10286 |
| Distributor |
Legal Counsel |
| Voya Investments Distributor, LLC |
Ropes & Gray LLP |
| 7337 East Doubletree Ranch Road, Suite 100 |
Prudential Tower |
| Scottsdale, Arizona 85258 |
800 Boylston Street |
|
Boston, Massachusetts
02199 |
Transfer
Agent
BNY Mellon Investment Servicing (U.S.) Inc.
103 Bellevue Parkway
Wilmington, Delaware 19809
For
more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments
Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing.
Consider the fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains
this information and other information about the fund. Check with your investment professional to determine which funds are available
for sale within their firm. Not all funds are available for sale at all firms.
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