Voya GNMA Income Fund - Class A
Class T shares of the Fund are not currently offered.
- Primarily invests in GNMA securities with maturities in excess of one year and which have the same credit quality as U.S. Treasury securities, but higher yields to compensate for prepayment uncertainty
- Seeks to deliver attractive income and returns by selecting GNMAs that can better withstand the impacts of changing interest rates and prepayment volatility
- One of the oldest mortgage-backed securities funds and the one with the longest manager tenure
The Fund seeks a high level of current income, consistent with liquidity and safety of principal, through investment primarily in Government National Mortgage Association (GNMA) mortgage-backed securities (also known as GNMA Certificates) that are guaranteed as to the timely payment of principal and interest by the U.S. Government. While the Fund invests in securities of this nature, its shares are not insured or guaranteed.
Daily Prices as of 11/21/2017
|Net Asset Value (NAV)||$8.40|
|Public Offering Price (POP)||$8.62|
|Inception Date||Aug 17, 1973|
|Min. Initial Investment||$1,000.00|
Jeff Dutra, CFA
Managed Fund since 2009
Justin McWhorter, CFA, CPA
Managed Fund since 2009
Peter Guan, PhD
Managed Fund since 2009
Portfolio Statistics as of 10/31/2017
|Net Assets millions||$1,147.8|
|Number of Holdings||560|
|Weighted Average Life years||7.80|
|nModifiedDurationToWorst||Modified Duration to Worst - is a mathematically adjusted form of Macaulay Duration measuring the sensitivity of a bond's price to small, instantaneous changes in yield. This calculates the rate sensitivity of a security assuming that cash flows do not change as interest rates change.|
|nWtdAvgMarketCapWilshire||Weighted Average Market Capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock.|
|nEndingActiveShare||Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index.|
|nPriceToCashFlow||The ratio of a stock’s price to its cash flow per share. The price-to-cash flow ratio is an indicator of a stock’s valuation
|nROA||ROA is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings.|
|nPriceToEarningsWilshire||P/E (next 12 months) calculates the price of a stock divided by its earnings per share.|
|nEPSGrowth||The portion of a company's profit allocated to each outstanding share of common stock. EPS growth serves as an indicator of a company's profitability.|
|nDividendYield||A financial ratio that shows how much a company pays out in dividends relative to its share price|
|nPriceToBookWilshire||Price to book ratio (trailing 12 month) calculates the ratio of a stock’s price to its book value.|
|nHoldings||Number of Holdings in the investment|
|nNetAssets||The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.|
|nAlpha||Measures the difference between a fund's actual return and its level of risk as measured by beta. An alpha of 0.5 implies the fund performed 0.5% better than the market would predict. The figure is calculated on a three-year basis relative to the benchmark.|
|nR2||The way in which a percentage of a portfolio's total returns represents the portfolio's beta measure.|
|nBeta3Year||Measures the Fund's volatility relative to the overall market. A beta above 1 is more volatile than the overall market, while a beta below 1 is less volatile.|
|nSharpeRatio||A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe Ratio, the better the fund's historical risk-adjusted performance.|
|nStandardDeviation3Year||A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk.|
|nMedianMktCap||Market Cap is the value of a corporation as determined by the market price of its issued and outstanding common stock.|
|nWeightedAvgMaturityDays||The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes.|
|nWeightedAvgMaturityYears||The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes.|
|nWeightedAvgLife||The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes.|
|nPriceToEarnings||P/E is the price of a stock divided by its earnings per share.|
|nPriceToBook||P/BV is the ratio of a stock's price to its Book Value.|
|nExpenseRatio||Operating costs, including management fees, expressed as a percentage of the fund's average net assets for a given time period.|
|nMktWeightedAvgCoupon||The interest rate on a fixed income security, determined upon issuance, and expressed as a percentage of par.|
|nPriceToFFORealEstate||Price to Funds From Operations (P/FFO), the REIT equivalent of a security’s Price to Earnings ratio (P/E), is used to measure operating performance which encompasses a REIT’s net income, excluding gains or losses from sales of property, and adding back real estate depreciation.|
|nWeightedAvgResetDays||Reset is the number of days that the current interest rate contract is in effect.|
Portfolio Composition as of 10/31/2017
|FNMA and FHLMC CMO||9.80|
|FNMA and FHLMC MBS||9.91|
Top Holdings % of Total Investments as of 10/31/2017
|GNMA2 30YR TBA(REG C) 3.00 11/2017||15.40|
|GNMA2 30YR TBA(REG C) 3.50 12/2017||11.94|
|GNMA2 30YR TBA(REG C) 4.00 11/2017||4.27|
|GNMA_15-H31A 1.88 11/2065||4.19|
|GNMA_12-H12 2.28 02/2062||2.76|
|GNMA_16-H08 1.95 02/2066||2.66|
|FNMA CONV LONG TERM 30YR OR LESS L 3.50 01/2044||2.56|
|GNMA_16-H20 1.78 09/2066||2.28|
|GNMA_16-H23 1.98 10/2066||2.16|
|GNMA2 30YR 4.00 08/2042||1.48|
Top Country Weightings % of Total Investments as of 10/31/2017
Maturity Details % of Total Investments as of 10/31/2017
Credit Quality % of Total Investments as of 10/31/2017
Maturity allocations are based on securities’ Average Life, which incorporates pre-payment assumptions and can thus be much different than a bond’s maturity date, particularly in the case of mortgage-backed securities
AAA is the highest grade (best) to D which is the lowest (worst) is calculated based on S&P, Moody’s, and Fitch agency ratings. If the ratings from all 3 rating agencies are available, securities will be assigned the Median rating. If the ratings are available from only two of the agencies, the more conservative of the ratings will be assigned to the security. If the rating is available from only one agency, then that rating will be used. Any security that is not rated is placed in the NR (Not Rated) category. Ratings do not apply to the Fund itself or to the Fund shares. Ratings are subject to change.
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to change daily.
Growth of a $10,000 Investment
For the period 10/31/2007 through 10/31/2017
Ending Value: $14,489.00
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.
Growth of a $10k Investment (Print Version Only)
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.
Calendar Year Returns % (Print Version Only)
Yields as of 10/31/2017
|SEC 30-Day Yield Class A (Unsubsidized)||1.59|
|SEC 30-Day Yield Class A (Subsidized)||1.59|
|Distribution Yield @ NAV||2.31|
|Distribution Yield @ MOP||2.25|
Average Annual Total Returns %
|As of Oct 31, 2017 As of Sep 30, 2017||Expense Ratios|
|YTD||1 YR||3 YR||5 YR||10 YR||Gross||Net 1, 2|
|Net Asset Value||+1.61||+0.22||+1.73||+1.62||+3.78||0.93%||0.93%|
|With Sales Charge||-0.97||-2.27||+0.89||+1.12||+3.52|
|Bloomberg Barclays GNMA Index||+1.79||+0.19||+1.79||+1.70||+4.05||—||—|
|Net Asset Value||+1.65||+0.22||+2.03||+1.60||+3.89||0.93%||0.93%|
|With Sales Charge||-0.93||-2.27||+1.18||+1.09||+3.63|
|Bloomberg Barclays GNMA Index||+1.84||+0.10||+2.14||+1.64||+4.17||—||—||—|
Inception Date - Class A: 08/17/73
* Return calculations with a starting date prior to July 31, 2006 are based on a 4.75% sales charge while returns with a starting date on or after July 31, 2006 are based on a 2.50% sales charge.
Current Maximum Sales Charge: 2.50%
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 expense limits will continue through at least August 1, 2018. The Fund is operating under the contractual expense limits.
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.
Bloomberg Barclays GNMA Index
The Barclays GNMA Index is an unmanaged index covering mortgage-backed pass-through securities of the Government National Mortgage Association (GNMA). The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.