Investment Management

Voya Small Company Fund - Class A

12/14/12 – The Fund is re-opened for all investments

Growth of a $10,000 Investment

For the period 02/28/2007 through 02/28/2017

Ending Value: $22,078.00

The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.

Calendar Year Returns %

Past performance is no guarantee of future results. Returns are shown in %. These figures are for the year ended December 31 of each year. They do not reflect sales charges and would be lower if they did. The bar chart above shows the Fund's annual returns and long-term performance, and illustrates the variability of the Fund’s returns.

Average Annual Total Returns %

  As of Feb 28, 2017 As of Dec 31, 2016 Expense Ratios
  YTD 1 YR 3 YR 5 YR 10 YR Gross Net 1, 2, 3
Net Asset Value +3.40 +38.08 +9.55 +13.42 +8.25 1.46% 1.36%
With Sales Charge -2.57 +30.15 +7.40 +12.08 +7.61
Russell 2000 Index +2.33 +36.11 +6.93 +12.89 +7.22
Net Asset Value +23.50 +23.50 +8.71 +14.83 +8.13 1.46% 1.36%
With Sales Charge +16.39 +16.39 +6.58 +13.48 +7.49
Russell 2000 Index +21.31 +21.31 +6.74 +14.46 +7.07

Inception Date - Class A: 04/15/94

Current Maximum Sales Charge: 5.75%

1The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses and may be subject to possible recoupment. Please see the Fund's prospectus for more information.

2The Adviser has contractually agreed to waive a portion of the management fee through October 1, 2017.

3The expense limits will continue through at least October 1, 2017. Expenses are being waived to the contractual cap.

The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above “Average Annual Total Returns %” for performance information current to the most recent month-end. Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.

Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.

Benchmark Disclosures

Russell 2000 Index

The Russell 2000 Index is an unmanaged index that measures the performance of securities of smaller U.S. companies. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Investing in stocks of Smaller-Sized Companies may entail greater volatility and less liquidity than larger companies. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. Other risks of the Fund include but are not limited to: Company; Currency; Growth Investing; Investment Model; Liquidity; Market; Other Investment Companies Risks; Price Volatility; Real Estate Companies and Real Estate Investment Trusts (“REITs”); Securities Lending and Value Investing Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.