Voya Index Solution 2040 Portfolio - Class I
The Voya Index Solution Portfolios are a suite of ten target date fund of funds that are designed to meet the needs of retirement plan investors who prefer a single diversified investment option. These Portfolios satisfy the criteria for qualified default investment alternatives (QDIAs) described in the final regulations implementing the default investment provisions of the Pension Protection Act of 2006. These portfolios invest in passively managed investment options that track different market indices around the world. The underlying investment portfolios are applied to each Voya Index Solution Portfolio based on each target date allocation.
The Voya Index Solution 2040 Portfolio is designed for people who plan to begin living their retirement goals in the years 2038 to 2042. Currently, it is designed to begin reducing investment risk and exposure to stock as contributions grow.
Voya Index Solution 2040 Portfolio - Until the day prior to its Target Date the Portfolio seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2040. On the Target Date, the Portfolio's investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Daily Prices as of 03/28/2017
|Net Asset Value (NAV)||$14.58|
|Public Offering Price (POP)||$14.58|
|Inception Date||Oct 03, 2011|
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||Inception (10/03/11)||Gross||Net 1, 2, 3|
|Net Asset Value||+4.78||+19.88||+5.42||+9.13||—||+12.62||5.63%||0.50%|
|S&P Target Date 2040 Index||+4.26||+19.65||+6.08||+9.31||—||+12.70||—||—|
|Net Asset Value||+8.24||+8.24||+4.24||+10.16||—||+12.05||5.63%||0.50%|
|S&P Target Date 2040 Index||+9.50||+9.50||+5.03||+10.27||—||+12.23||—||—|
Inception Date - Class I: 10/03/11
1The Portfolio's Acquired (Underlying) Funds Fees and Expenses are based on a weighted average of the fees and expenses of the Underlying Funds in which it invests. The amount of fees and expenses of the Underlying funds borne by a Portfolio will vary based on the Portfolio's allocation of assets to, and annualized net expenses of, the particular Underlying Funds during the Portfolio's fiscal year.
2The expense limits will continue through at least May 1, 2018. Expenses are being waived to the contractual cap.
3The Adviser has contractually agreed to limit expenses of the Portfolio. 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 Portfolio's prospectus for more information.
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.
S&P Target Date 2040 Index
The S&P Target Date® Index Series consists of 11 multi-asset class indices: the S&P Target Date Retirement Income Index and 10 indices, each of which corresponds to a specific target retirement date (ranging from 2010 through 2055+). The benchmark asset allocation and glide path represent a market consensus across the universe of target date fund managers.
As with any portfolio, you could lose money on your investment in the Voya Index Solution Portfolios. Although asset allocation seeks to optimize returns given various levels of risk tolerance, you still may lose money and experience volatility. Market and asset class performance may differ in the future from historical performance and the assumptions used to form the asset allocations for the Voya Index Solution Portfolios. There is a risk that you could achieve better returns in an underlying portfolio or other portfolios representing a single asset class than in the Voya Index Solution Portfolios. Please keep in mind, using asset allocation as part of your investment strategy neither assures nor guarantees better performance and cannot protect against loss in declining markets.
The share price of the Portfolios normally changes daily based on changes in the value of the securities that the Portfolios hold. The investment strategies used may not produce the intended results. The principal risks of investing in the Portfolios and the circumstances reasonably likely to cause the value of your investment in the Portfolios to decline include: asset allocation risk, credit risk, debt securities risk, equity securities risk, foreign investment risk, growth investing risk, inflation-indexed bonds risk, interest rate risk, market and company risk, real estate risk, REITs risk, U.S. Government securities and obligations risk, derivatives risk and value investing risk. If you would like additional information regarding the risks of the Portfolios' underlying funds, please see "Description of the Investment Objectives, Main Investments and Risks of the Underlying Funds" and the "More Information on Risks" sections of the Prospectus.
The Index Solution Portfolios may only be offered to variable annuity and variable life insurance separate accounts, ("Variable Contracts"), qualified pension and retirement plans which includes plans qualified under Sections 401 of the Internal Revenue Code ("IRC") as well as 403(b) annuity plans, 403(b)(7) custodial accounts, 408(a) individual retirement accounts, eligible governmental and deferred compensation plans under Sections 414(d) or 457(b) or plans described in 501(c)18 of the IRC, certain investment advisers and their affiliates in connection with the creation or management of the Index Solution Portfolios and certain other management investment companies.