1. Read and delete this page before presenting
Notice
Read and delete this page before presenting
This
presentation
may
only be
used on a
one-on-one
use
basis
with
financial
professionals or
qualified
institutional
investors. It is
not
intended
for
wider
distribution, or
posting on
any
website
other
than
Sharenet. It is
not
approved
for
use
with
the
general
public. If
this
presentation is to be
used in
any
jurisdiction
outside of
the
United
States,
presenters
must
consult
with
the
legal
department
prior to
use.
Presenters
must
also
comply
with
any
instructions or
requirements of
the
Voya
Legal
and
Compliance
Departments.
Presenters
must
maintain
records
identifying
the
financial
professional or
institutional
investor
this
presentation
was
used
with
and
the
date it
was
used.

2. GIPS Presentation Quarter ending September 30, 2019 Client Name
Presented by
Name, Title
Date
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

3. Table of Contents Institutional SMA GPMM
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

4. Institutional
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

5. Schedule of Composite Performance
Voya
Concentrated
Growth
Composite
Russell
1000
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
CONGR
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.62
0.91
(1.51)
11.94
12.13
1.62
1.62 ≤5 3
106,335
2018
2017
28.70
27.83
30.21
10.92
10.54
28.70
28.70 ≤5 3
113,387
2017
2016
2016
4.57
3.85
7.08 NA NA
4.57
4.57 ≤5 2
99,889
2015
8.49
7.74
5.67 NA NA
8.49
8.49 ≤5 2
94,574
2015
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Concentrated
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
relies on
fundamental
research
and
analysis to
identify
companies
with
strong
and
accelerating
business
momentum,
increasing
market
acceptance,
and
attractive
valuations.
The
objective is to
outperform
the
Russell
1000
Growth
Index
with
moderate
tracking
error
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2015. As of
12/31/2018,
100% of
the
assets in
this
composite
were
non-fee-paying
portfolios.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
1000
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
1000
Index
includes
approximately
1000 of
the
largest
capitalization
securities
within
the
float-adjusted,
market-capitalization-
weighted
Russell
3000
Index.
The
Russell
1000
Growth
Index
includes
those
Russell
1000
Index
companies
with
higher
price-to-book
ratios
and
higher
forecasted
growth
values.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.70% on
the
first
$25
million;
0.60% on
the
next
$75
million;
0.55% on
the
next
$150
million;
0.40% on
the
next
$250
million;
and
0.30%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

6. Schedule of Composite Performance
Voya
Corporate
Leaders
100
Composite
S&P
500
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
DCE_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(6.29)
(6.76)
(4.38)
10.92
10.80
(6.29)
(6.29) ≤5
865
106,335
2018
2017
19.90
19.32
21.83
10.50
9.92
19.90
19.90 ≤5
1,084
113,387
2017
2016
12.32
11.87
11.96
10.91
10.59
12.32
12.32 ≤5
918
99,889
2016
2015
(0.69)
(1.09)
1.38
10.94
10.47
(0.69)
(0.69) ≤5
885
94,574
2015
2014
14.39
13.94
13.69
8.89
8.97
14.39
14.39 ≤5
756
100,577
2014
2013
34.66
34.13
32.39
12.26
11.94
34.66
34.66 ≤5
510
93,084
2013
2012
17.05
16.59
16.00
15.64
15.09
17.05
17.05 ≤5
364
76,532
2012
2011
2.77
2.36
2.11
19.61
18.71
2.77
2.77 ≤5 10
65,776
2011
2010
16.13
15.67
15.06
22.68
21.85
16.12
16.12 ≤5 10
60,236
2010
2009
33.18
32.66
26.46
20.38
19.63
33.49
32.69 ≤5 15
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
disciplined,
equal
weighted
strategy
designed to
outperform
the
S&P
500
Index by
investing 1% in
each of
the
100
companies in
the
S&P
100
Index.
The
Fund's
investment
portfolio
will be
rebalanced
quarterly to
re-align
the
Fund's
holdings to 1%
weightings.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A $1
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2004.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
500
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
500 is a
market-capitalization-weighted
index of
500
large
cap
U.S.
equities
considered to be
leading
companies in
leading
industries.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.50% on
the
first
$500
million;
0.45% on
the
next
$500
million;
and
0.40%
over $1
billion.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

7. Schedule of Composite Performance
Voya
Global
Equity
Dividend
Composite
MSCI
World -
Net
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
IGED
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(10.84)
(11.11)
(8.71)
10.24
10.38
(10.84)
(10.84) ≤5
0.11
106,335
2018
2017
17.95
17.60
22.40
11.09
10.23
17.95
17.95 ≤5
0.13
113,387
2017
2016
10.96
10.63
7.51
11.65
10.92
10.96
10.96 ≤5
0.11
99,889
2016
2015
(5.03)
(5.31)
(0.87)
11.18
10.80
(5.03)
(5.03) ≤5
0.10
94,574
2015
2014
2.57
2.26
4.94
9.58
10.23
2.57
2.57 ≤5
0.10
100,577
2014
2013
24.13
23.77
26.68 NA NA
24.13
24.13 ≤5
0.24
93,084
2013
2012
13.47
13.13
15.83 NA NA
13.47
13.47 ≤5
0.19
76,532
2012
2011*
(6.02)
(6.16)
(10.29) NA NA NA NA ≤5
65,776
2011
*Cumulative
return
for
the
period is
from
July 1,
2011
(inception of
strategy) to
December
31,
2011
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
uses a
global,
value-based,
bottom-up
approach to
investing in
companies,
using
dividend
yield as
the
main
valuation
criterion.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
July 1,
2011.
Benchmark
Definition:
Returns
are
benchmarked to
the
MSCI
World
Net
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
MSCI
World
Index
captures
free
float-adjusted
large
and
mid-capitalization
equities
across
developed-market
countries
around
the
world.
The
“Net”
version of
this
index
assumes
the
deduction of a
withholding
tax on
dividend
income
applicable to
non-resident,
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Returns
presented
for
the
benchmark
index
assumes
the
reinvestment of
dividends
after
the
deduction of
withholding
taxes,
using
(for
international
indices) a
tax
rate
applicable to
non-resident
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

8. Schedule of Composite Performance
Voya
Global
Multi-Asset
Composite
S&P
Target
Risk
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GMA_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(7.56)
(8.07)
(5.69)
7.63
6.42
(7.56)
(7.56) ≤5
135
106,335
2018
2017
18.78
18.14
15.93
6.91
6.10
18.78
18.78 ≤5
164
113,387
2017
2016
7.47
6.89
6.77
7.75
6.83
7.47
7.47 ≤5
155
99,889
2016
2015
(1.03)
(1.57)
(0.94)
7.90
6.92
(1.03)
(1.03) ≤5
163
94,574
2015
2014
3.34
2.78
6.30
7.59
6.39
3.34
3.34 ≤5
183
100,577
2014
2013
15.43
14.81
16.03
9.16
8.00
15.43
15.43 ≤5
201
93,084
2013
2012
14.11
13.49
11.44 NA NA
14.11
14.11 ≤5
193
76,532
2012
2011
(0.78)
(1.33)
1.30 NA NA
(0.78)
(0.78) ≤5
200
65,776
2011
2010*
12.25
12.09
11.95 NA NA NA NA ≤5
241
60,236
2010*
*Cumulative
return
for
the
period is
from
September 1,
2010
(inception of
strategy) to
December
31,
2010.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
investment
strategy
that
seeks
total
return
through
diversified
global
exposure to
equity
and
fixed
income
combined
with
tactical
allocations
across
markets
seeking to
capitalize on
value
dislocations.
The
objective is to
outperform
S&P
Target
Risk
Growth
Index
before
management
fees
over a
full
market
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$50
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
September 1,
2010.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
Target
Risk
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
Target
Risk
Growth
Index
seeks to
provide
increased
exposure to
equities,
while
also
using
some
fixed
income
exposure to
dampen
risk.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.55% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
The
investment
strategy
makes
regular
use of
various
types of
derivatives
instruments
including
options,
futures,
forwards,
and
swaps,
used
exclusively
for
purposes of
beta
management
and
currency
hedging.
Derivatives in
general
will be
used
when
the
sum of
market
exposures
inherent in
the
underlying
investment
strategies
does
not
match
the
client's
benchmark.
Long
and
short
positions
can be
taken in
various
markets
and
currencies to
bridge
the
gap
between
actual
and
desired
exposures.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

9. Schedule of Composite Performance
Voya
Global
Volatility
Controlled
Alpha
Composite
MSCI
World -
Net
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
GLHDLV
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(8.57)
(8.94)
(8.71) NA NA NA NA ≤5
781
106,335
2018
2017
20.99
20.51
22.40 NA NA
20.99
20.99 ≤5 10
113,387
2017
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
global
equity
strategy
designed to
maximize
total
returns at
lower
levels of
volatility
relative to
its
respective
benchmark.
Stock
selection is
model-driven.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
January 1,
2017.
Benchmark
Definition:
Returns
are
benchmarked to
the
MSCI
World
Net
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
MSCI
World
Index
captures
free
float-adjusted
large
and
mid-capitalization
equities
across
developed-market
countries
around
the
world.
The
“Net”
version of
this
index
assumes
the
deduction of a
withholding
tax on
dividend
income
applicable to
non-resident,
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Returns
presented
for
the
benchmark
index
assumes
the
reinvestment of
dividends
after
the
deduction of
withholding
taxes,
using
(for
international
indices) a
tax
rate
applicable to
non-resident
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.40% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

10. Schedule of Composite Performance
Voya US
Volatility
Controlled
Alpha
Composite
Russell
1000
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
USHDL
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(3.46)
(3.75)
(4.78) NA NA
(3.46)
(3.46) ≤5
131
106,335
2018
2017
18.64
18.29
21.69 NA NA
18.64
18.64 ≤5 21
113,387
2017
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
equity
strategy
designed to
maximize
total
returns at
lower
levels of
volatility
relative to
its
respective
benchmark.
Stock
selection is
model-driven.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
January 1,
2017.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
1000
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
1000
Index
includes
approximately
1000 of
the
largest
capitalization
securities
within
the
float-adjusted,
market-capitalization-
weighted
Russell
3000
Index.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

11. Schedule of Composite Performance
Voya
International
Volatility
Controlled
Alpha
Composite
MSCI
EAFE -
Net
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
IHDLV_
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
2018
(11.63)
(11.94)
(13.79) NA NA NA NA ≤5 9
106,335
2017
23.04
22.61
25.03 NA NA
23.04
23.04 ≤5 9
113,387
2017
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
international
equity
strategy
designed to
maximize
total
returns at
lower
levels of
volatility
relative to
its
respective
benchmark.
Stock
selection is
model-driven.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
January 1,
2017.
Benchmark
Definition:
Returns
are
benchmarked to
the
MSCI
EAFE
Net
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
MSCI
EAFE
Index
captures
free
float-adjusted
large
and
mid-capitalization
equities
across
developed-market
countries
around
the
world,
excluding
the US
and
Canada.
The
“Net”
version of
this
index
assumes
the
deduction of a
withholding
tax on
dividend
income
applicable to
non-resident,
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Returns
presented
for
the
benchmark
index
assumes
the
reinvestment of
dividends
after
the
deduction of
withholding
taxes,
using
(for
international
indices) a
tax
rate
applicable to
non-resident
institutional
investors
who do
not
benefit
from
double
taxation
treaties.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.35% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

12. Schedule of Composite Performance
Voya
Large
Cap
Growth
vs.
Russell
1000
Growth
Composite
Russell
1000
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
LGR1G
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(0.82)
(1.42)
(1.51)
11.77
12.13
(0.66)
(0.89) 14
7,931
106,335
2018
2017
30.62
29.86
30.21
10.73
10.54
30.70
30.46 15
9,359
113,387
2017
2016
4.66
4.04
7.08
11.40
11.15
4.74
4.16 15
8,407
99,889
2016
2015
7.01
6.38
5.67
10.95
10.70
7.15
6.81 14
9,002
94,574
2015
2014
14.34
13.66
13.05
10.22
9.59
14.46
14.27 16
9,517
100,577
2014
2013
31.65
30.88
33.48
12.45
12.18
31.79
30.88 17
7,941
93,084
2013
2012
18.77
18.07
15.26
16.19
15.66
19.02
18.25 13
4,698
76,532
2012
2011
3.02
2.40
2.64
17.54
17.76
3.20
2.51 9
1,788
65,776
2011
2010
19.06
18.12
16.71
20.78
22.11
19.19
18.18 9
1,118
60,236
2010
2009
30.20
29.18
37.21
18.30
19.73
31.41
29.44 10
565
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Large
Cap
Growth
vs.
Russell
1000
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
relies on
fundamental
research
and
analysis to
identify
large
capitalization
companies
with
strong
and
accelerating
business
momentum,
increasing
market
acceptance,
and
attractive
valuations.
The
objective is to
outperform
the
Russell
1000
Growth
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a $5
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
January 1,
1983
and
was
created in
January
2000.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
1000
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
1000
Index
includes
approximately
1000 of
the
largest
capitalization
securities
within
the
float-adjusted,
market-
capitalization-weighted
Russell
3000
Index.
The
Russell
1000
Growth
Index
includes
those
Russell
1000
Index
companies
with
higher
price-to-book
ratios
and
higher
forecasted
growth
values.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.60% on
the
first
$25
million;
0.50% on
the
next
$75
million;
0.45% on
the
next
$150
million;
0.30% on
the
next
$250
million;
and
0.20%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

13. Schedule of Composite Performance
Voya
Large
Cap
Core
Growth
Composite
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
LGSP5_
Year
Gross
Returns
(%)
Net
Returns
(%)
S&P
500
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(0.54)
(1.13)
(4.38)
10.80
10.80
(0.54)
(0.54) ≤5
2,281
106,335
2018
2017
24.91
24.18
21.83
10.23
9.92
24.91
24.91 ≤5
2,299
113,387
2017
2016
7.04
6.41
11.96
10.88
10.59
7.11
7.04 ≤5
1,851
99,889
2016
2015
2.66
2.05
1.38
10.79
10.47
2.66
2.64 ≤5
1,739
94,574
2015
2014
12.05
11.38
13.69
10.18
8.97
12.08
11.72 ≤5
1,718
100,577
2014
2013
33.79
33.01
32.39
12.69
11.94
34.15
33.13 ≤5
1,636
93,084
2013
2012
19.21
18.50
16.00
16.04
15.09
19.24
18.55 ≤5
1,237
76,532
2012
2011
1.94
1.33
2.11
17.75
18.71
2.04
1.80 ≤5
1,063
65,776
2011
2010
18.46
17.53
15.06
20.37
21.85
18.63
17.39 ≤5
1,020
60,236
2010
2009
23.48
22.51
26.46
17.83
19.63
24.71
23.29 ≤5
910
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Large
Cap
Core
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
relies on
fundamental
research
and
analysis to
identify
large
capitalization
companies
with
strong
and
accelerating
business
momentum,
increasing
market
acceptance,
and
attractive
valuations.
The
objective is to
outperform
the
S&P
500
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a $5
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
January 1,
1983
and
was
created in
January
2000.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
500
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
500 is a
market-capitalization-weighted
index of
500
large
cap
U.S.
equities
considered to be
leading
companies in
leading
industries.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.60% on
the
first
$25
million;
0.50% on
the
next
$75
million;
0.45% on
the
next
$150
million;
0.30% on
the
next
$250
million;
and
0.20%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

14. Schedule of Composite Performance
Voya
Large
Cap
Value
vs.
Russell
1000
Value
Composite
Russell
1000
Value
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
LCVA_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
2018
(7.11)
(7.67)
(8.27)
10.18
10.82
(6.94)
(7.20) ≤5
2,049
106,335
2017
14.36
13.68
13.66
10.01
10.20
14.48
14.21 ≤5
2,699
113,387
2017
2016
14.58
13.90
17.34
10.73
10.77
14.64
14.46
2,828
99,889
2016 ≤5
2015
(3.79)
(4.36)
(3.83)
10.83
10.68
(3.69)
(3.83) ≤5
3,087
94,574
2015
2014
10.75
10.10
13.45
9.16
9.20
10.80
10.73
2014 ≤5
3,090
100,577
2013
31.77
31.00
32.53
11.43
12.70
31.81
31.62 ≤5
2,469
93,084
2013
2012
15.44
14.75
17.51
14.34
15.51
15.48
15.38 ≤5
1,078
76,532
2012
2011
4.26
3.64
0.39
18.11
20.69
4.40
4.03 ≤5
684
65,776
2011
2010
21.60
20.64
15.51
20.34
23.18
21.34
21.34
2010 ≤5
175
60,236
2009
25.43
24.44
19.69 NA NA
25.43
25.43 ≤5 8
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Large
Cap
Value
vs.
Russell
1000
Value
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
targeting
large
capitalization
stocks
with a
dividend
yield
above
the
Russell
1000
Value
Index.
The
objective is to
outperform
the
Russell
1000
Value
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A $5
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2008.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
1000
Value
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
1000
Index
includes
approximately
1000 of
the
largest
capitalization
securities
within
the
float-adjusted,
market-capitalization-
weighted
Russell
3000
Index.
The
Russell
1000
Value
Index
includes
those
Russell
1000
Index
companies
with
lower
price-to-book
ratios
and
lower
expected
growth
values.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.60% on
the
first
$25
million;
0.50% on
the
next
$75
million;
0.45% on
the
next
$150
million;
0.30% on
the
next
$250
million;
and
0.20%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

15. Schedule of Composite Performance
Voya
Large
Cap
Core
Value
Composite
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
RAGI_C
Year
Gross
Returns
(%)
Net
Returns
(%)
S&P
500
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
2018
(3.89)
(4.47)
(4.38)
9.59
10.80
(3.89)
(3.89) ≤5
2,880
106,335
2017
21.05
20.34
21.83
9.79
9.92
21.05
21.05 ≤5
3,476
113,387
2017
2016
2016
10.40
9.74
11.96
10.53
10.59
10.40
10.40 ≤5
3,456
99,889
2015
2015
(0.84)
(1.43)
1.38
10.67
10.47
(0.83)
(0.83) ≤5
3,681
94,574
2014
11.40
10.74
13.69
9.42
8.97
11.36
11.36 ≤5
4,780
100,577
2014
2013
31.48
30.71
32.39
12.69
11.94
31.45
31.45 ≤5
4,508
93,084
2013
2012
16.42
15.74
16.00
15.70
15.09
16.67
15.78 ≤5
4,217
76,532
2012
2011
0.28
(0.32)
2.11
18.59
18.71
0.63
2011
(0.45) ≤5
4,253
65,776
14.70
13.89
15.06
21.97
21.85
15.00
15.00
3,206
60,236
2010
2010 ≤5
2009
33.75
32.71
26.46
19.87
19.63
34.12
33.69
2009 ≤5
954
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Large
Cap
Core
Value
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
seeks to
capture
the
benefits of
both
high-dividend
yield
and
dividend
growth,
targeting a
gross
dividend
yield
equal to or
greater
than
the
S&P
500
Index.
The
objective is to
outperform
the
S&P
500
Index
before
management
fees
and
other
expenses
over
full
market
cycles. A $5
million
minimum
has
been
set
for
inclusion in
the
composite.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
This
composite
was
incepted
and
created on
November 1,
2004.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
500
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
500 is a
market-capitalization-weighted
index of
500
large
cap
U.S.
equities
considered to be
leading
companies in
leading
industries.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.60% on
the
first
$25
million;
0.50% on
the
next
$75
million;
0.45% on
the
next
$150
million;
0.30% on
the
next
$250
million;
and
0.20%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

16. Schedule of Composite Performance
Voya
Research
Enhanced
Index
Large
Cap
Composite
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
REILC_
Year
Gross
Returns
(%)
Net
Returns
(%)
S&P
500
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(6.36)
(6.79)
(4.38)
10.92
10.80
(6.36)
(6.36) ≤5
939
106,335
2018
2017
25.20
24.65
21.83
10.20
9.92
25.20
25.20 ≤5
876
113,387
2017
2016
10.77
10.29
11.96
10.84
10.59
10.77
10.77 ≤5
775
99,889
2016
2015
1.30
0.86
1.38
10.65
10.47
1.30
1.30 ≤5
677
94,574
2015
2014
14.34
13.85
13.69 NA NA
14.34
14.34 ≤5
750
100,577
2014
2013
33.55
32.97
32.39 NA NA
33.55
33.55 ≤5
739
93,084
2013
2012*
3.06
2.76
3.69 NA NA NA NA ≤5
644
76,532
2012
*Cumulative
return
for
the
period is
from
May 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
diversified
strategy
that
incorporates
research
from
both
our
fundamental
equity
team
and
our
proprietary
quantitative
models.
The
objective is to
outperform
the
S&P
500
Index
before
the
deduction of
fees
over
full
market
cycles
using a
risk-controlled
investment
process. A $5
million
minimum
has
been
set
for
inclusion in
the
composite.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
This
composite
was
incepted
and
created on
May 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
500
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
500 is a
market-capitalization-weighted
index of
500
large
cap
U.S.
equities
considered to be
leading
companies in
leading
industries.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

17. Schedule of Composite Performance
Voya
Small
Cap
Core
Composite
Russell
2000
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
SC_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(15.11)
(15.84)
(11.01)
15.28
15.79
(14.87)
(15.26) 6
1,693
106,335
2018
2017
12.14
11.20
14.65
12.89
13.91
12.24
11.81 6
2,410
113,387
2017
2016
25.30
24.26
21.31
14.33
15.76
25.52
24.96 ≤5
1,963
99,889
2016
2015
(0.13)
(0.98)
(4.41)
12.47
13.96
0.07
(0.37) 6
1,854
94,574
2015
2014
7.30
6.40
4.89
11.84
13.12
7.41
7.23 6
2,067
100,577
2014
2013
38.59
37.45
38.82
15.74
16.45
38.93
38.04 6
2,158
93,084
2013
2012
15.44
14.48
16.35
18.68
20.20
15.57
15.31 6
1,640
76,532
2012
2011
(1.76)
(2.59)
(4.18)
22.98
24.99
(1.64)
(1.88) 6
1,537
65,776
2011
2010
25.38
24.34
26.86
25.23
27.69
25.43
25.33 ≤5
1,460
60,236
2010
2009
28.62
27.55
27.17
22.50
24.83
29.02
28.38 ≤5
1,011
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Small
Cap
Core
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
driven by
bottom-up
fundamental
research,
which
seeks
high
quality
small-capitalization
companies
that
are
beneficiaries of
sustainable
growth
trends.
The
objective is to
outperform
the
Russell
2000
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$20
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
August 1,
2005
and
was
created in
December
2007.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
2000
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
2000
Index
includes
approximately
2000 of
the
smallest
capitalization
securities
within
the
float-adjusted,
market-capitalization-
weighted
Russell
3000
Index.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.85% on
the
first
$25
million;
0.75% on
the
next
$75
million;
0.65% on
the
next
$150
million;
0.55% on
the
next
$250
million;
and
0.45%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

18. Schedule of Composite Performance
Voya
Small
Cap
Growth
Composite
Russell
2000
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
SCG_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(15.17)
(15.94)
(9.31)
16.45
16.46
(15.01)
(15.29) 11
2,920
106,335
2018
2017
19.74
18.68
22.17
13.99
14.59
20.70
19.52 12
3,947
113,387
2017
2016
14.17
13.16
11.32
15.62
16.67
14.46
13.67 11
2,855
99,889
2016
2015
(0.11)
(1.01)
(1.38)
13.63
14.95
(0.01)
(0.29) 10
2,419
94,574
2015
2014
6.46
5.51
5.60
12.41
13.82
6.90
6.26 12
2,539
100,577
2014
2013
40.09
38.87
43.30
15.74
17.27
40.35
39.46 11
2,166
93,084
2013
2012
16.36
15.33
14.59
18.98
20.72
16.56
16.12 8
1,241
76,532
2012
2011
1.85
0.93
(2.91)
22.74
24.31
2.07
1.67 7
881
65,776
2011
2010
34.02
32.85
29.09
25.92
27.70
35.22
33.57 6
764
60,236
2010
2009
32.27
31.11
34.47
23.22
24.85
32.98
31.69 ≤5
455
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Small
Cap
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
driven by
bottom-up
fundamental
research,
which
seeks
high
quality
small-capitalization
companies
that
are
beneficiaries of
sustainable
growth
trends.
The
objective is to
outperform
the
Russell
2000
Growth
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$20
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
August 1,
2005
and
was
created in
December
2007.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
2000
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
2000
Index
includes
approximately
2000 of
the
smallest
capitalization
securities
within
the
float-adjusted,
market-capitalization-
weighted
Russell
3000
Index.
The
Russell
2000
Growth
Index
includes
those
Russell
2000
Index
companies
with
higher
price-to-value
ratios
and
higher
forecasted
growth
values.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.90% on
the
first
$25
million;
0.80% on
the
next
$75
million;
0.70% on
the
next
$150
million;
0.60% on
the
next
$250
million;
and
0.50%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

19. Schedule of Composite Performance
Voya
Mid
Cap
Growth
Composite
Russell
Midcap
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
MCG_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(6.87)
(7.57)
(4.75)
12.90
12.82
(6.81)
(6.94) 8
4,320
106,335
2018
2017
26.02
25.10
25.27
10.42
10.89
26.06
25.89 8
5,270
113,387
2017
2016
8.21
7.41
7.33
11.57
12.18
8.24
8.05 7
3,540
99,889
2016
2015
1.28
0.52
(0.20)
11.16
11.31
1.30
1.25 8
3,657
94,574
2015
2014
9.78
8.97
11.90
11.15
10.87
9.84
9.72 9
4,103
100,577
2014
2013
32.94
31.97
35.74
14.52
14.62
33.07
32.82 8
4,025
93,084
2013
2012
15.15
14.30
15.81
17.71
17.91
15.18
15.07 ≤5
2,471
76,532
2012
2011
0.31
(0.44)
(1.65)
19.76
20.82
0.43
(0.01) ≤5
1,718
65,776
2011
2010
31.39
30.32
26.38
23.11
26.37
31.73
31.01 ≤5
1,412
60,236
2010
2009
42.51
41.27
46.29
20.80
24.01
42.95
42.34 ≤5
920
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Mid
Cap
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
that
relies on
fundamental
research
and
analysis to
identify
mid-capitalization
companies
with
strong
and
accelerating
business
momentum,
increasing
market
acceptance,
and
attractive
valuations.
The
objective is to
outperform
the
Russell
Midcap
Growth
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A $5
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
August 1,
2005.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
Midcap
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
Midcap
Index
includes
the
mid-capitalization
segment
within
the
float-adjusted,
market-capitalization-weighted
Russell
1000
Index.
The
Russell
Midcap
Growth
Index
includes
those
Russell
Midcap
Index
companies
with
higher
price-to-book
ratios
and
higher
forecasted
growth
values.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.75% on
the
first
$25
million;
0.65% on
the
next
$75
million;
0.55% on
the
next
$150
million;
0.35% on
the
next
$250
million;
and
0.25%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

20. Schedule of Composite Performance
Voya
SMID
Cap
Growth
Composite
Russell
2500
Growth
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
SMIDG_
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(13.66)
(14.44)
(7.47)
15.27
15.33
(13.60)
(13.66) ≤5
343
106,335
2018
2017
20.10
19.05
24.46
13.35
13.04
20.31
20.31 ≤5
415
113,387
2017
2016
14.48
13.47
9.73
14.21
14.67
14.48
14.48 ≤5 3
99,889
2016
2015
0.10
(0.80)
(0.19)
12.32
13.29
0.10
0.10 ≤5 3
94,574
2015
2014
8.84
7.87
7.05 NA NA
8.84
8.84 ≤5 3
100,577
2014
2013
32.98
31.81
40.65 NA NA
32.98
32.98 ≤5 3
93,084
2013
2012*
12.98
12.40
10.53 NA NA NA NA ≤5 2
76,532
2012
*Cumulative
return
for
the
period is
from
June 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
SMID
Cap
Growth
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed
strategy
driven by
bottom-up
fundamental
research,
which
seeks
high
quality
small-capitalization
companies
that
are
beneficiaries of
sustainable
growth
trends.
The
objective is to
outperform
the
Russell
2500
Growth
Index
before
management
fees
over
full
market
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
June 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
Russell
2500
Growth
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Russell
2500
Growth
Index
includes
the
small to
mid-capitalization
segment
within
the
float-adjusted,
market-capitalization-weighted
Russell
3000
Index.
The
Russell
2500
Growth
Index
includes
2500 of
the
smallest
securities
based on a
combination of
their
market
cap
and
current
index
membership.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.90% on
the
first
$25
million;
0.80% on
the
next
$50
million;
0.70% on
the
next
$175
million;
and
0.60%
over
$250
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

21. Schedule of Composite Performance
Voya
Core
Plus
Fixed
Income
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
CP_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Aggregate
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
0.03
(0.27)
0.01
2.66
2.84
0.13
(0.12) ≤5
10,462
106,335
2018
2017
5.38
5.07
3.54
2.71
2.78
5.57
5.15 ≤5
10,131
113,387
2017
2016
4.67
4.36
2.65
2.97
2.98
4.91
4.15 ≤5
8,464
99,889
2016
2015
0.98
0.68
0.55
3.13
2.88
1.04
0.68 ≤5
8,258
94,574
2015
2014
7.18
6.86
5.97
3.07
2.63
7.20
6.48 6
7,569
100,577
2014
2013
0.13
(0.17)
(2.02)
3.16
2.71
0.45
(0.45) 7
4,339
93,084
2013
2012
9.74
9.36
4.21
2.67
2.38
10.19
9.11 6
4,466
76,532
2012
2011
8.08
7.71
7.84
3.62
2.78
8.42
7.13 ≤5
3,732
65,776
2011
2010
10.25
9.81
6.54
4.97
4.17
10.52
8.96 ≤5
3,753
60,236
2010
2009
12.85
12.41
5.93
4.77
4.11
13.60
11.60 ≤5
3,720
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Core
Plus
Fixed
Income
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
debt
securities
across
multiple
quality
ranges,
sectors,
and
industries in
order to
maximize
total
return
through
income
and
capital
appreciation.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Aggregate
Index
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
was
incepted
and
created on
January 1,
1999.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% on
the
first
$50
million;
0.25% on
the
next
$75
million;
0.20% on
the
next
$150
million;
and
0.18%
over
$275
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
This
strategy
invests in
securities
domiciled in
countries
outside of
the
U.S. As
such, a
withholding
(tax) on
investment
income is
applicable in
most
cases
and is
typically
accrued
for
within
daily
portfolio
accounting
valuations
used as a
basis
for
performance
return
calculations.
For
certain
countries,
investors
may be
eligible
for a
tax
“reclaim”,
normally
calculated as a
percentage of
the
withholding
amount. In
terms of
accounting
treatment,
this
reclaim
can
either be
accrued
for
(effectively
offsetting
the
accrued
withholding
tax by a
certain
amount), or is
realized on a
cash
settlement
basis.
Information
regarding
withholding
tax
and
reclaims
for
foreign
securities is
available
upon
request.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

22. Schedule of Composite Performance
Voya
Core
Fixed
Income
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
CFI_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Aggregate
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
2018
0.25
(0.00)
0.01
2.69
2.84
0.37
0.10 ≤5
1,321
106,335
2017
3.96
3.71
3.54
2.71
2.78
4.32
3.70 ≤5
1,351
113,387
2017
2016
3.43
3.12
2.65
2.95
2.98
3.59
3.23 ≤5
1,261
99,889
2016
2015
0.46
0.16
0.55
2.98
2.88
0.56
0.37
2015 ≤5
1,242
94,574
2014
6.21
5.89
5.97
2.74
2.63
6.29
6.06 6
1,354
100,577
2014
2013
(1.62)
(1.92)
(2.02)
2.74
2.71
(1.51)
(1.72) 8
2,068
93,084
2013
2012
5.71
5.34
4.21
2.35
2.38
6.11
5.18 9
2,287
76,532
2012
2011
7.41
7.04
7.84
3.26
2.78
7.59
7.21 9
2,388
65,776
2011
2010
8.10
7.72
6.54
4.72
4.17
8.47
7.89 9
2,085
60,236
2010
2009
10.10
9.72
5.93
4.58
4.11
12.54
8.47 10
3,118
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Core
Fixed
Income
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
investment-grade
debt
securities
across
multiple
sectors
and
industries in
order to
maximize
total
return
through
income
and
capital
appreciation.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Aggregate
Bond
Index
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
February 1,
1998
and
was
created in
November
2002.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.25% on
the
first
$100
million;
0.20% on
the
next
$150
million;
0.17% on
the
next
$150
million;
and
0.15%
over
$400
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

23. Schedule of Composite Performance
Voya
Enhanced
Long
Duration
Government
Credit
Composite
Bloomberg
Barclays
U.S.
Long
Government/Credit
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
EHLGC
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018*
(0.97)
(1.17)
(1.14) NA NA NA NA ≤5
195
106,335
2018*
*Cumulative
return
for
the
period is
from
April 1,
2018
(inception of
strategy) to
December
31,
2018.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
whose
primary
objective is to
maximize
total
return
mainly
through
security
selection of
long-dated
corporate
and
treasury
bonds,
while
maintaining
duration
similar to
the
portfolio's
index.
Further,
this
strategy
typically
includes
allocations to
off-benchmark
securities,
including
investment
grade
private
credit
and
securitized
assets.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted
and
created on
April 1,
2018.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Long
Government/Credit
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Long
Government/Credit
represents
the
long
component of
the
Bloomberg
Barclays
U.S.
Government/Credit
Index.
The
Bloomberg
Barclays
U.S.
Long
Government/Credit
Index
includes
treasuries
(i.e.,
public
obligations of
the
U.S.
Treasury
that
have
remaining
maturities of
more
than
one
year)
and
agencies
(i.e.,
publicly
issued
debt of
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government),
and
publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes
that
meet
specified
maturity,
liquidity,
and
quality
requirements.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
both
corporate
and
non-corporate
sectors.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.25% on
the
first
$100
million;
0.20% on
the
next
$200
million;
0.17% on
the
next
$200
million;
and
0.15%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

24. Schedule of Composite Performance
Voya
Global
Bond
Composite
Bloomberg
Barclays
Global
Composite
3-Yr St
Benchmark
3-Yr St
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
GB_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Aggregate
Returns
(%)
Dev
(%)
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(1.50)
(1.84)
(1.20)
4.52
4.90
(1.49)
(1.51) ≤5
430
106,335
2018
2017
10.10
9.74
7.39
4.42
4.82
10.21
10.01 ≤5
475
113,387
2017
2016
6.48
6.11
2.09
4.68
4.97
7.15
6.19 ≤5
656
99,889
2016
2015
(3.64)
(3.98)
(3.15)
5.24
3.90
(3.34)
(3.88) ≤5
786
94,574
2015
2014
0.86
0.51
0.59
5.77
3.93
1.32
0.70 ≤5
879
100,577
2014
2013
(2.61)
(2.95)
(2.60)
6.02
4.36
(2.17)
(3.31) ≤5
965
93,084
2013
2012
8.48
8.10
4.32
5.12
4.90
8.75
7.81 ≤5
1,313
76,532
2012
2011
4.01
3.55
5.64
6.15
6.53
4.27
3.92 ≤5
1,151
65,776
2011
2010
5.31
4.87
5.54
7.79
7.96
5.27
5.27 ≤5
628
60,236
2010
2009
13.25
12.80
6.93
7.63
7.53
13.25
13.25 ≤5
353
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Global
Bond
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
multi-currency
debt
and
derivative
securities
globally,
including
sovereign
debt,
corporate
debt,
mortgage-backed
securities,
foreign
exchange
forwards,
currency
swaps,
and
interest
rate
swaps.
The
strategy
seeks to
maximize
total
return
through a
combination of
current
income
and
capital
appreciation.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
August 1,
2006.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
Global
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
Global
Aggregate
Index
represents a
broad
universe of
global
investment-grade
fixed
income
markets.
The
three
major
components of
this
index
are
the
U.S.
Aggregate,
the
Pan-European
Aggregate,
and
the
Asian-Pacific
Aggregate
Indices.
The
index
also
includes
Eurodollar
and
Euro-Yen
corporate
bonds,
Canadian
government,
agency
and
corporate
securities,
and
USD
investment
grade
144A
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% on
the
first
$10
million;
0.24% on
the
next
$200
million;
and
0.20%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
This
strategy
invests in
securities
domiciled in
countries
outside of
the
U.S. As
such, a
withholding
(tax) on
investment
income is
applicable in
most
cases
and is
typically
accrued
for
within
daily
portfolio
accounting
valuations
used as a
basis
for
performance
return
calculations.
For
certain
countries,
investors
may be
eligible
for a
tax
“reclaim”,
normally
calculated as a
percentage of
the
withholding
amount. In
terms of
accounting
treatment,
this
reclaim
can
either be
accrued
for
(effectively
offsetting
the
accrued
withholding
tax by a
certain
amount), or is
realized on a
cash
settlement
basis.
Information
regarding
withholding
tax
and
reclaims
for
foreign
securities is
available
upon
request.
The
investment
strategy
makes
regular
use of
various
types of
derivatives
contracts,
including,
but
not
limited
to,
forward
foreign
currency
exchange
contracts,
futures,
purchased
options,
written
options,
and
swaps.
Different
combinations of
these
instruments
are
used to
change
the
level or
types of
exposure to
market
risk
factors.
This
allows
the
strategy to
pursue
investment
objectives
more
quickly
and
efficiently
than if it
were to
make
direct
purchases or
sales of
securities
capable of
affecting a
similar
response to
market
factors.
Daily
accounting
valuations
for
certain
portfolios
included
within
the
composite
being
presented
have
utilized
currency
exchange
rates
(used to
convert
foreign-denominated
asset
values to
U.S.
dollars)
that
differ
from
those of
the
benchmark
index
used.
These
differences
may or
may
not
have
significantly
contributed to
the
relative
performance of
the
composite
vs.
its
benchmark
for
certain
periods.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

25. Schedule of Composite Performance
Voya
Investment
Grade
Credit
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
IGCFI_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Corporate
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(2.55)
(2.80)
(2.51)
3.82
3.65
(2.55)
(2.55) ≤5
1,492
106,335
2018
2017
7.71
7.42
6.42
4.05
3.88
7.79
7.70
2017 ≤5
2,068
113,387
2016
7.05
6.73
6.11
4.47
4.15
7.72
6.90 ≤5
1,179
99,889
2016
2015
0.10
(0.20)
(0.68)
4.66
4.13
0.17
0.07 ≤5
551
94,574
2015
2014
8.76
8.44
7.46
4.68
4.01
8.77
8.70 ≤5
371
100,577
2014
2013
2013
1.28
0.97
(1.53)
5.35
4.43
1.32
1.32 ≤5
233
93,084
2012
14.34
13.89
9.82
4.77
3.92
14.74
14.74 ≤5
256
76,532
2012
2011
2011
7.27
6.84
8.15 NA NA
6.57
6.57 ≤5
331
65,776
2010
14.31
13.86
9.00 NA NA
14.74
14.74 ≤5 52
60,236
2010
2009*
22.77
22.33
18.15
2009* NA NA NA NA ≤5
127
61,643
*Cumulative
return
for
the
period is
from
February 1,
2009
(inception of
strategy) to
December
31,
2009.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Investment
Grade
Credit
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
investment-grade
corporate
debt
securities
across
multiple
sectors
and
industries in
order to
maximize
total
return
through
income
and
capital
appreciation.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Corporate
Index
before
management
fees
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
February 1,
2009.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Corporate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Corporate
Index
includes
fixed
rate,
dollar-denominated,
investment
grade
corporate
bonds,
specified
foreign
debentures,
and
secured
notes.
The
index
includes
both
corporate
(Industrial,
Utility,
and
Finance)
and
non-corporate
(Sovereign,
Supranational,
Foreign
Agency,
and
Foreign
Local
Government)
sectors.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.26% on
the
first
$100
million;
0.22% on
the
next
$200
million;
0.20% on
the
next
$200
million;
and
0.16%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

26. Schedule of Composite Performance
Voya
Short
Duration
Composite
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Returns
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
VSD_C
Year
Gross
Returns
(%)
Net
Returns
(%)
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.48
1.23
1.60
0.70
0.82
1.55
1.55 ≤5
957
106,335
2018
2017
2.02
1.77
0.84
0.70
0.73
2.02
2.02 ≤5
107
113,387
2017
2016
2.16
1.87
1.28
0.74
0.75
2.16
2.16 ≤5 99
99,889
2016
2015
1.49
1.18
0.65
0.70
0.58
1.49
1.49 ≤5
135
94,574
2015
2014
1.63
1.33
0.77 NA NA
1.63
1.63 ≤5
145
100,577
2014
2013
1.98
1.68
0.64 NA NA
1.98
1.98 ≤5
174
93,084
2013
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Short
Duration
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
investment-grade
debt
securities
with a
maximum of
10% in
below
investment
grade
while
aligning
portfolio
duration to
that of
the
benchmark.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
before
management
fees
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
includes
fixed
rate,
dollar-denominated,
investment
grade
securities
with
maturities of
1-3
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.24% on
the
first
$50
million;
0.19% on
the
next
$75
million;
0.16% on
the
next
$150
million;
and
0.14%
over
$275
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

27. Schedule of Composite Performance
Voya
Short
Duration
High
Quality
Composite
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Returns
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
CSD_C
Year
Gross
Returns
(%)
Net
Returns
(%)
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.55
1.33
1.60
0.71
0.82
1.60
1.49
2018 ≤5
576
106,335
2017
1.71
1.49
0.84
0.67
0.73
1.76
1.70 ≤5
522
113,387
2017
2016
1.78
1.49
1.28
0.70
0.75
1.80
1.76
2016 ≤5
316
99,889
2015
1.13
0.82
0.65
0.56
0.58
1.19
1.11 ≤5
428
94,574
2015
2014
1.20
0.90
0.77
0.54
0.49
1.23
1.17
2014 ≤5
422
100,577
2013
1.20
0.90
0.64
0.69
0.54
1.21
1.21 ≤5
420
93,084
2013
2012
2.04
1.69
1.26
0.89
0.72
2.04
2.04 ≤5
398
76,532
2012
2011
1.66
1.31
1.59
1.46
0.99
1.68
1.55 ≤5
247
65,776
2011
2010
3.66
3.30
2.80
2.67
1.68
3.76
2.99 ≤5
294
60,236
2010
2009
7.25
6.88
3.83
2.69
1.77
7.68
5.56 ≤5
346
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Short
Duration
High
Quality
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
investment-grade
debt
securities
while
aligning
portfolio
duration to
that of
the
benchmark.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
before
management
fees
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
September 1,
1996
and
was
created in
November
2002.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
includes
fixed
rate,
dollar-
denominated,
investment
grade
securities
with
maturities of
1-3
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios. In
January
2003,
the
benchmark
for
this
composite
was
changed
from
the
Barclays
1-5
Year
Government/Credit to
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index.
The
change
was
made
consistent
with
the
investment
strategy of
the
composite.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.22% on
the
first
$50
million;
0.18% on
the
next
$75
million;
0.15% on
the
next
$150
million;
and
0.13%
over
$275
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

28. Schedule of Composite Performance
Voya
Core
Plus
Stable
Value
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
CPSV_
Year
Gross
Returns
(%)
Net
Returns
(%)
Aggregate
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.00
(0.29)
0.01
2.64
2.84
0.03
(0.02) ≤5
1,413
106,335
2018
2017
4.81
4.58
3.54
2.70
2.78
4.90
4.63 ≤5
1,422
113,387
2017
2016
4.10
3.88
2.65
2.96
2.98
4.19
3.85 ≤5
1,394
99,889
2016
2015
0.54
0.24
0.55
3.08
2.88
0.64
0.50
1,432
94,574
2015 ≤5
2014
6.37
6.05
5.97
2.95
2.63
6.41
6.19 6
1,907
100,577
2014
2013
(1.41)
(1.71)
(2.02)
2.98
2.71
2013
(0.93)
(1.46) 8
2,223
93,084
2012
6.67
6.25
4.21
2.50
2.38
6.78
6.53 9
3,024
76,532
2012
2011
7.48
7.06
7.84 NA NA
7.79
7.27 14
3,845
65,776
2011
2010
2010
8.75
8.32
6.54 NA NA
9.26
8.27 14
3,408
60,236
2009*
11.02
10.69
5.81
2009* NA NA NA NA 15
3,690
61,643
*Cumulative
return
for
the
period is
from
April 1,
2009
(inception of
strategy) to
December
31,
2009.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Core
Plus
Stable
Value
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
debt
securities
across
multiple
quality
ranges,
sectors,
and
industries.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Aggregate
Bond
Index
while
limiting
risk to
principal.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
April 1,
2009.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% on
the
first
$50
million;
0.25% on
the
next
$75million;
0.20%
over
$150
million;and
0.18%
over
$275million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
This
strategy
invests in
securities
domiciled in
countries
outside of
the
U.S. As
such, a
withholding
(tax) on
investment
income is
applicable in
most
cases
and is
typically
accrued
for
within
daily
portfolio
accounting
valuations
used as a
basis
for
performance
return
calculations.
For
certain
countries,
investors
may be
eligible
for a
tax
“reclaim”,
normally
calculated as a
percentage of
the
withholding
amount. In
terms of
accounting
treatment,
this
reclaim
can
either be
accrued
for
(effectively
offsetting
the
accrued
withholding
tax by a
certain
amount), or is
realized on a
cash
settlement
basis.
Information
regarding
withholding
tax
and
reclaims
for
foreign
securities is
available
upon
request.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

29. Schedule of Composite Performance
Voya
Core
Intermediate
Fixed
Income
Composite
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
CINFI_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.90
0.66
0.92
2.04
2.12
0.92
0.65 ≤5
2,205
106,335
2018
2017
2.18
1.93
2.27
1.95
1.96
2.26
2.08 ≤5
2,796
113,387
2017
2016
2.27
2.04
1.97
2.14
2.13
2.35
2.20 ≤5
1,970
99,889
2016
2015
1.12
0.82
1.21
2.14
2.10
1.16
1.07 6
2,354
94,574
2015
2014
4.03
3.72
4.12
2.02
1.96
4.17
3.86 6
2,898
100,577
2014
2013
(0.94)
(1.24)
(1.02)
2.04
2.01
(0.79)
(1.04) 6
2,779
93,084
2013
2012
4.44
4.13
3.56
1.83
1.88
4.46
4.41 6
2,445
76,532
2012
2011
5.61
5.30
5.97
2.33
2.29
5.66
5.58 ≤5
950
65,776
2011
2010
6.83
6.45
6.15
3.44
3.36
6.85
6.82 ≤5
773
60,236
2010
2009
9.11
8.73
6.46
3.43
3.33
9.36
9.36 ≤5
732
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Core
Intermediate
Fixed
Income
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
debt
securities
across
multiple
quality
ranges,
sectors,
and
industries,
while
maintaining a
duration
similar to
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
August 1,
2004.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-
denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities
with
maturities of
1-10
years.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.24% on
the
first
$100
million;
0.19% on
the
next
$150
million;
0.16% on
the
next
$150
million,
and
0.14%
over
$400
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

30. Schedule of Composite Performance
Voya
Core
Plus
Intermediate
Aggregate
Composite
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
CPIA_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
0.78
0.48
0.92
1.96
2.12
0.96
0.66
750
106,335
2018
2018 ≤5
2017
3.59
3.36
2.27
1.94
1.96
3.62
3.55 ≤5
740
113,387
2017
2016
3.27
3.04
1.97
2.12
2.13
3.37
3.20
2016 ≤5
736
99,889
2015
2015
1.33
1.03
1.21
2.31
2.10
1.37
1.32 ≤5
679
94,574
2014
4.54
4.22
4.12
2014 NA NA
4.48
4.48 ≤5
662
100,577
2013
(0.55)
(0.85)
(1.02) NA NA
(0.55)
(0.55) ≤5
243
93,084
2013
1.76
1.63
0.61
2012
2012* NA NA NA NA ≤5
251
76,532
*Cumulative
return
for
the
period is
from
August 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
the
full
spectrum of
fixed
income
securities
including
U.S.
Treasuries,
GNMA
and
mortgage
pass-throughs,
corporate
bonds
and
asset-backed
securities,
while
maintaining a
duration
similar to
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Bond
Index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
August 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index
represents
securities
that
are
U.S.
domestic,
taxable,
and
dollar
denominated.
The
index
covers
the
U.S.
investment
grade
fixed
rate
bond
market,
with
index
components
for
government
and
corporate
securities,
mortgage
pass-through
securities,
and
asset-backed
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% on
the
first
$50
million;
0.25% on
the
next
$75million;
0.20%
over
$150
million;and
0.18%
over
$275million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
This
strategy
invests in
securities
domiciled in
countries
outside of
the
U.S. As
such, a
withholding
(tax) on
investment
income is
applicable in
most
cases
and is
typically
accrued
for
within
daily
portfolio
accounting
valuations
used as a
basis
for
performance
return
calculations.
For
certain
countries,
investors
may be
eligible
for a
tax
“reclaim”,
normally
calculated as a
percentage of
the
withholding
amount. In
terms of
accounting
treatment,
this
reclaim
can
either be
accrued
for
(effectively
offsetting
the
accrued
withholding
tax by a
certain
amount), or is
realized on a
cash
settlement
basis.
Information
regarding
withholding
tax
and
reclaims
for
foreign
securities is
available
upon
request.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

31. Schedule of Composite Performance
Voya
Core
Short
Duration
1-5
Composite
Bloomberg
Barclays
U.S.
Government
1-5
Year
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
CSD15_
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.67
1.44
1.53
1.20
1.44
1.67
1.67 ≤5
1,130
106,335
2018
2017
1.38
1.15
0.69
1.21
1.35
1.38
1.38 ≤5
1,475
113,387
2017
2016
1.43
1.20
1.02
1.29
1.39
1.43
1.43 ≤5
1,671
99,889
2016
2015
1.09
0.79
0.93
1.13
1.12
1.09
1.09 ≤5
1,522
94,574
2015
2014
1.58
1.28
1.18
1.01
0.95
1.58
1.58 ≤5
1,446
100,577
2014
2013
0.05
(0.25)
(0.12)
1.10
1.08
0.05
0.05 ≤5
1,637
93,084
2013
2012
1.96
1.66
0.97 NA NA
1.96
1.96 ≤5
1,339
76,532
2012
2011
3.32
3.01
3.21 NA NA
3.32
3.32 ≤5
777
65,776
2011
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
positioning
the
composite to
take
advantage of
anticipated
moves in
the
yield
curve,
spread
basis,
credit
quality,
and
interest
rate
volatility.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2011.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Government
1-5
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Government
1-5
Year
Index
includes
fixed
rate,
dollar-denominated,
investment
grade
securities
with
maturities of
1-5
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
The
U.S.
Government
Index is a
component of
the
U.S.
Government/Credit
Index.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.22% on
the
first
$50
million;
0.18% on
the
next
$75
million,
0.15%
over
$150
million,
and
0.13% on
over
$275
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

32. Schedule of Composite Performance
Voya
Agency
MBS -
3.5
Years
Composite
Custom
Benchmark
(3.5
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
GNM_U
Year
Gross
Returns
(%)
Net
Returns
(%)
Year
Duration)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.88
0.66
0.80
1.84
1.93
1.14
0.89 ≤5
469
106,335
2018
2017
1.76
1.54
1.36
1.69
1.76
1.76
1.76 ≤5
622
113,387
2017
2016
1.59
1.37
1.13
1.86
2.01
1.59
1.59 ≤5
226
99,889
2016
2015
1.48
1.18
0.73
2.05
2.36
1.48
1.48 ≤5
221
94,574
2015
2014
3.75
3.44
4.08
2.15
2.54
3.75
3.75 ≤5
154
100,577
2014
2013
(1.26)
(1.55)
(1.80)
2.24
2.61
(1.26)
(1.26) ≤5
171
93,084
2013
2012
3.83
3.52
2.57
1.87
2.23
3.83
3.83 ≤5
184
76,532
2012
2011
7.22
6.90
7.89
2.50
2.86
7.22
7.22 ≤5
164
65,776
2011
2010
7.69
7.21
7.37
3.14
3.42
7.69
7.69 ≤5
179
60,236
2010
2009
4.91
4.44
3.03
3.11
3.35
4.91
4.91 ≤5
182
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Agency
MBS -
3.5
Years
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
debt
securities
backed by
the
U.S.
Government,
including
Government
National
Mortgage
Association
(GNMA)
pass-through
securities as
well as
U.S.
Treasuries,
while
maintaining
approximately a
3.5
year
duration
over
time.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
The
name of
this
composite
changed in
August
2018.
The
composite
was
formerly
known as
Voya
Government
Securities
Composite.
This
composite
incepted on
April 1,
1991
and
was
created in
January
1996.
Benchmark
Definition:
Returns
are
benchmarked to a
custom
created
index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Firm
created a
composite
target-duration
index
starting
with
the
Bloomberg
Barclays
GNMA
Index as a
base
and
manufactured a
3.5
year
composite-level
duration
using
equal
and
offsetting
weights
for a
shorter-duration
Bloomberg
Barclays
Intermediate
Index
and a
longer
duration
Long
Term
Treasury
Index.
The
Firm
then
utilizes
the
vendor-provided
returns
for
each
index
component
and
applies
the
static
weights to
the
returns to
come up
with a
composite
level
return.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.22% on
the
first
$50
million;
0.18% on
the
next
$75
million,
0.15%
over
$150
million,
and
0.13% on
over
$275
million.
(For
2015,
the
fee
used to
calculate
the
net
return
was
0.30%)
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

33. Schedule of Composite Performance
Voya
Intermediate
Government/Credit
Quality
Constrained
Composite
Bloomberg
Barclays
U.S.
Interm.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
CIQR_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Gov/Credit A or
Higher
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.13
0.89
1.19
2.01
2.12
1.13
1.13 ≤5
1,302
106,335
2018
2017
1.73
1.49
1.60
2.03
2.11
1.74
1.65 ≤5
1,298
113,387
2017
2016
1.58
1.36
1.44
2.13
2.21
1.59
1.58
1,234
99,889
2016 ≤5
2015
1.46
1.16
1.31
1.99
2.00
1.47
1.39
2015 ≤5
1,204
94,574
2014
2014
2.96
2.65
2.84
1.84
1.81
3.01
2.95 ≤5
1,225
100,577
2013
2013
(0.67)
(0.97)
(1.00)
1.99
2.01
(0.66)
(0.73) ≤5
1,272
93,084
2012
3.69
3.38
3.14
2.03
2.14
3.74
3.29
2012 ≤5
1,312
76,532
5.41
5.09
5.67
2.59
2.59
5.84
5.35
1,293
65,776
2011
2011 ≤5
2010
6.03
5.66
5.48
3.52
3.86
5.85
5.85
1,308
60,236
2010 ≤5
2009
5.10
4.73
2.85
3.55
3.81
5.10
5.10
133
61,643
2009 ≤5
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Intermediate
Government/Credit
Quality
Constrained
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
investment-grade
debt
securities
across
multiple
sectors
and
industries
rated
“A” or
better at
time of
purchase,
while
maintaining a
duration
similar to
the
Bloomberg
Barclays
Intermediate
Government/Credit
Index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
January 1,
1992
and
was
created in
January
2003.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Interm.
Gov/Credit A or
Higher
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Interm.
Gov/Credit A or
Higher
Index
includes
fixed
rate,
dollar-
denominated
securities
with
maturities of
1-10
years
rated A or
higher by at
least
two of
the
Moody's,
S&P,
and
Fitch
ratings
agencies
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.24% on
the
first
$100
million;
0.19% on
the
next
$150
million;
0.16% on
the
next
$150
million,
and
0.14%
over
$400
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

34. Schedule of Composite Performance
Voya
Core
Quality
Constrained
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
QE_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Aggregate A or
Higher
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.54
0.29
0.47
2.56
2.81
0.54
0.54 ≤5
100
106,335
2018
2017
2.97
2.74
2.94
2.62
2.69
2.97
2.97
2017 ≤5
100
113,387
2016
1.93
1.71
1.87
2.82
2.87
1.93
1.93 ≤5
103
99,889
2016
2015
1.31
1.01
1.04
2.80
2.71
1.31
1.31 ≤5
100
94,574
2015
2014
5.79
5.47
5.66
2.48
2.46
5.79
5.79 ≤5
162
100,577
2014
2013
2013
(2.12)
(2.41)
(2.04)
2.50
2.59
(2.12)
(2.12) ≤5
222
93,084
2012
4.23
3.91
3.45
2.28
2.36
4.23
4.23
2012 ≤5
328
76,532
2011
7.15
6.83
7.70
2.89
2.80
7.15
7.15 ≤5
300
65,776
2011
2010
7.12
6.74
6.17
3.88
3.98
7.12
7.12 ≤5
260
60,236
2010
2009
7.62
7.24
4.37
3.81
3.95
7.62
7.62 ≤5
294
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Core
Quality
Constrained
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
investment-grade
debt
securities
across
multiple
sectors
and
industries
rated
“A” or
better at
time of
purchase,
while
maintaining a
duration
similar to
the
Bloomberg
Barclays
Aggregate
Index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
January 1,
1992
and
was
created in
January
2003.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Aggregate A or
Higher
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities
rated A or
higher by at
least
two of
the
Moody's,
S&P,
and
Fitch
ratings
agencies.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.25% on
the
first
$100
million;
0.20% on
the
next
$150
million;
0.17%
over
$150
million;and
0.15%
over
$400
million .
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

35. Schedule of Composite Performance
Voya
Multi-Sector
Short
Duration
Composite
Bloomberg
Barclays
U.S.
Treasury
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
SVSD_
Year
Gross
Returns
(%)
Net
Returns
(%)
Bellwethers: 3 Yr
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.50
1.27
1.28
1.35
1.52
1.49
1.49 ≤5
351
106,335
2018
2017
1.48
1.25
0.52
1.36
1.45
1.55
1.36 ≤5
765
113,387
2017
2016
1.61
1.38
0.86
1.49
1.53
1.61
1.60 ≤5
1,254
99,889
2016
2015
1.57
1.32
0.87
1.41
1.25
1.59
1.52 ≤5
1,247
94,574
2015
2014
1.63
1.38
0.92
1.31
1.03
1.65
1.57 ≤5
1,039
100,577
2014
2013
0.63
0.38
(0.05) NA NA
0.63
0.63 ≤5
964
93,084
2013
2012
2.95
2.69
0.61 NA NA
2.95
2.95 ≤5
730
76,532
2012
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Multi-Sector
Short
Duration
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
short
duration
fixed
income
strategy
that
invests in
investment-grade
debt
securities
including
but
not
limited
to:
Government
Bonds,
Corporate
Bonds,
Asset
Backed
Securities,
Commercial
Mortgage
Backed
Securities
and
Agency
Mortgage
Backed
Securities,
while
aligning
portfolio
duration to
that of
the
benchmark.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Treasury
Bellwethers 3
Year
Index
before
management
fees
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Treasury
Bellwethers: 3
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Treasury
Bellwethers: 3
Year
Index is a
universe of
treasury
bonds
and
used as a
benchmark
against
the
market
for
long-term
maturity
fixed
income
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.22% on
the
first
$25
million;
0.18% on
the
next
$75
million;
and
0.15% on
the
next
$75
million
and
0.13%
over
$175
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

36. Schedule of Composite Performance
Voya
Short
Duration
High
Quality
Constrained
Composite
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Returns
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
SDHQC
Year
Gross
Returns
(%)
Net
Returns
(%)
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.62
1.40
1.60
0.74
0.82
1.62
1.62
1,795
106,335
2018 ≤5
2017
1.16
0.94
0.84
0.69
0.73
1.16
1.16 ≤5
1,782
113,387
2017
2016
1.16
0.94
1.28
0.72
0.75
1.16
1.16 ≤5
1,889
99,889
2016
2015
0.78
0.55
0.65
0.61
0.58
0.78
0.78 ≤5
1,769
94,574
2015
2014
0.93
0.70
0.77
0.57
0.49
0.93
0.93
2014 ≤5
1,747
100,577
2013
0.71
0.49
0.64
0.66
0.54
0.71
0.71 ≤5
1,774
93,084
2013
2012
1.94
1.72
1.26
0.84
0.72
1.94
1.94 ≤5
1,763
76,532
2012
2011
1.92
1.69
1.59
1.31
0.99
1.92
1.92 ≤5
1,730
65,776
2011
2010
3.38
3.15
2.80
2.06
1.68
3.38
3.38
1,699
60,236
2010 ≤5
2009
6.18
5.95
3.83
2.06
1.77
6.18
6.18 ≤5
1,274
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
short
investment-grade
debt
securities
with
set
limits on
sector
allocations
while
aligning
portfolio
duration to
that of
the
benchmark.
The
objective is to
outperform
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
before
management
fees
over a
full
credit
cycle.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
April 1,
2005.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Government/Credit
1-3
Year
Index
includes
fixed
rate,
dollar-
denominated,
investment
grade
securities
with
maturities of
1-3
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.22% on
the
first
$50
million;
0.18% on
the
next
$75
million;
0.15% on
the
next
$150
million;
and
0.13%
over
$275
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

37. Schedule of Composite Performance
Voya
Unconstrained
Fixed
Income
Composite
Merrill
Lynch
LIBOR 3
Month
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
STI_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Constant
Maturity
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2.20
1.79
2.08
1.41
0.19
2.20
2.20 ≤5
1,017
106,335
2018
2017
6.53
6.11
1.11
1.58
0.11
6.53
6.53 ≤5
282
113,387
2017
2016
6.17
5.74
0.66
1.78
0.06
6.17
6.17 ≤5
140
99,889
2016
2015
3.69
3.28
0.23
3.18
0.02
3.69
3.69 ≤5
119
94,574
2015
2014
2014
4.73
4.32
0.23 NA NA
4.73
4.73 ≤5 6
100,577
2013
1.00
0.60
0.29 NA NA
1.00
1.00 ≤5 5
93,084
2013
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Unconstrained
Fixed
Income
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
seeks
total
return
through
income
and
capital
appreciation by
investing in
the
broad
global
fixed
income
universe.
The
objective is to
outperform
LIBOR
over
full
credit
cycles.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
Returns
are
benchmarked to
the
Merrill
Lynch
LIBOR 3
Month
Constant
Maturity
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
index is
based on
the
assumed
purchase of a
synthetic
instrument
having 3
months to
maturity
and
with a
coupon
equal to
the
closing
quote
for
3-Month
LIBOR.
That
issue is
sold
the
following
day
(priced at a
yield
equal to
the
current
day
closing
3-Month
LIBOR
rate)
and is
rolled
into a
new
3-Month
instrument.
The
index,
therefore,
will
always
have a
constant
maturity
equal to
exactly 3
months.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.40% on
the
first
$100
million;
0.37% on
the
next
$200
million;
and
0.32%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

38. Schedule of Composite Performance
Voya
Long
Duration
Credit
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr St
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
LC_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Long
Credit
Returns
(%) St
Dev
(%)
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(6.95)
(7.18)
(6.76)
6.92
6.88
(6.95)
(6.95) ≤5
1,896
106,335
2018
2017
12.51
12.19
12.21
7.75
7.28
12.51
12.51 ≤5
1,853
113,387
2017
2016
9.22
8.89
10.22 NA NA
9.22
9.22 ≤5
1,835
99,889
2016
2015
(3.14)
(3.43)
(4.56) NA NA
(3.14)
(3.14) ≤5
1,726
94,574
2015
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Long
Duration
Credit
Composite
has
been
examined
for
the
periods
The
verification
report is
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
whose
primary
objective is to
maximize
total
return
mainly
through
security
selection
while
maintaining
duration
targeted to
the
portfolio's
long
duration
index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
January 1,
2015.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Long
Credit
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Long
Credit
represents
the
long
component of
the
Bloomberg
Barclays
U.S.
Credit
Index.
The
Bloomberg
Barclays
U.S.
Long
Credit
Index
includes
publicly
issued
U.S.
corporate
and
specified
foreign
debentures
and
secured
notes
that
meet
the
specified
maturity,
liquidity,
and
quality
requirements. To
qualify,
bonds
must be
SEC-registered.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
both
corporate
and
non-corporate
sectors.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.25% on
the
first
$100
million;
0.20% on
the
next
$200
million;
0.17% on
the
next
$200
million;
and
0.15%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

39. Schedule of Composite Performance
Voya
Long
Duration
Government/Credit
Composite
Bloomberg
Barclays
U.S.
Long
Government/Credit
Composite
3-Yr
Benchmark
3-Yr St
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
LGC_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%)
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
(5.91)
(6.15)
(4.68)
7.05
7.33
(5.91)
(5.91) ≤5
709
106,335
2018
2017
11.91
11.59
10.71
8.08
7.98
11.91
11.91 ≤5
639
113,387
2017
2016
8.15
7.83
6.67
8.96
8.58
8.15
8.15 ≤5
571
99,889
2016
2015
(3.08)
(3.37)
(3.30)
9.22
8.59
(3.08)
(3.08) ≤5
528
94,574
2015
2014
20.17
19.82
19.31
9.36
8.07
18.00
18.00 ≤5
678
100,577
2014
2013
(10.05)
(10.32)
(8.83)
11.35
8.99
(10.76)
(10.76) ≤5
1,745
93,084
2013
2012
8.15
7.83
8.78
12.25
8.19
8.15
8.15 ≤5
1,306
76,532
2012
2011
26.90
26.53
22.49 NA NA
26.90
26.90 ≤5
1,287
65,776
2011
2010
12.18
11.85
10.16 NA NA
12.18
12.18 ≤5 82
60,236
2010
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Long
Duration
Government/Credit
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
whose
primary
objective is to
maximize
total
return
mainly
through
security
selection of
long-dated
corporate
and
treasury
bonds,
while
maintaining
duration
similar to
the
portfolio's
index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
January 1,
2010
and
was
created in
December
2014.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Long
Government/Credit
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Long
Government/Credit
represents
the
long
component of
the
Bloomberg
Barclays
U.S.
Government/Credit
Index.
The
Bloomberg
Barclays
U.S.
Long
Government/Credit
Index
includes
treasuries
(i.e.,
public
obligations of
the
U.S.
Treasury
that
have
remaining
maturities of
more
than
one
year)
and
agencies
(i.e.,
publicly
issued
debt of
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government),
and
publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes
that
meet
specified
maturity,
liquidity,
and
quality
requirements.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
both
corporate
and
non-corporate
sectors.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.25% on
the
first
$100
million;
0.20% on
the
next
$200
million;
0.17% on
the
next
$200
million;
and
0.15%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

40. Schedule of Composite Performance
Voya
Securitized
Credit
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
VSC_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Securitized
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
3.14
2.68
0.99
1.66
2.25
3.14
3.14 ≤5
491
106,335
2018
2017
9.12
8.64
2.51
1.77
1.78
9.12
9.12 ≤5
314
113,387
2017
2016
5.75
5.28
1.78 NA NA
5.75
5.75 ≤5
265
99,889
2016
2015
2015
4.70
4.23
1.47 NA NA
4.70
4.70 ≤5
118
94,574
2014
2014*
1.08
1.00
0.78 NA NA NA NA ≤5
103
100,577
*Cumulative
return
for
the
period is
from
November 1,
2014
(inception of
strategy) to
December
31,
2014.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Securitized
Credit
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
market
sectors
collateralized by
distinct
asset
types:
commercial
real
estate
(CMBS),
non-agency
residential
housing
(RMBS)
and
nonmortgage
assets
(ABS), to
provide
direct,
focused
exposure to
these
specific
sectors.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
November 1,
2014.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Securitized
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
U.S.
Securitized
Index
includes
the
MBS,
ABS,
and
CMBS
sectors of
the
Bloomberg
Barclays
Aggregate
universe.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

41. Schedule of Composite Performance
Voya
Securitized
Credit
ABS
Composite
Bloomberg
Barclays
U.S.
Asset-
Backed
Securities
Index
Returns
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
ABS_C
Year
Gross
Returns
(%)
Net
Returns
(%)
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2.31
1.85
1.77
1.44
1.06
2.31
2.31 ≤5
145
106,335
2018
2017
2017
6.19
5.72
1.55
1.30
1.10
6.19
6.19 ≤5 98
113,387
2016
5.39
4.92
2.03 NA NA
5.39
5.39 ≤5 61
99,889
2016
2015
2015
3.32
2.86
1.25 NA NA
3.32
3.32 ≤5 19
94,574
2014*
(0.07)
(0.11)
(0.22) NA NA NA NA ≤5 16
100,577
2014
*Cumulative
return
for
the
period is
from
December 1,
2014
(inception of
strategy) to
December
31,
2014.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
market
sectors
collateralized by
nonmortgage
asset-backed
securities
(ABS), to
provide
direct,
focused
exposure to
this
specific
sector.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
December 1,
2014.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Asset-Backed
Securities
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
U.S.
Asset-Backed
Securities
Index
includes
the
ABS
sector of
the
Bloomberg
Barclays
Aggregate
universe.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

42. Schedule of Composite Performance
Voya
Securitized
Credit
CMBS
Composite
Bloomberg
Barclays
U.S.
CMBS
Investment
Grade
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
CMBS_
Year
Gross
Returns
(%)
Net
Returns
(%)
Index
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
5.19
4.72
0.78
1.73
2.80
5.19
5.19
2018 ≤5
160
106,335
2017
9.12
8.63
3.35
1.98
2.83
9.12
9.12 89
113,387
2017 ≤5
2016
2016
5.07
4.60
3.32
N/A
N/A
5.07
5.07 ≤5 79
99,889
2015
4.28
3.89
0.97 NA NA
4.28
4.28 ≤5 46
94,574
2015
2014*
2.85
2.66
1.46 NA NA NA NA ≤5 63
100,577
2014
*Cumulative
return
for
the
period is
from
August 1,
2014
(inception of
strategy) to
December
31,
2014.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
market
sectors
collateralized by
distinct
asset
types:
commercial
real
estate
(CMBS),
non-agency
residential
housing
(RMBS)
and
nonmortgage
assets
(ABS), to
provide
direct,
focused
exposure to
these
specific
sectors.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
August 1,
2014.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
CMBS
Investment
Grade
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
This
index is
the
Eligible
for
U.S.
Aggregate
component of
the
Investment
Grade
CMBS
index.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

43. Schedule of Composite Performance
Voya
Securitized
Credit
Non-Agency
RMBS
Composite
Bloomberg
Barclays
U.S.
Mortgage-Backed
Securities
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
RMBS_
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
3.17
2.70
0.99
1.78
2.26
3.17
3.17
2018 ≤5
144
106,335
2017
10.03
9.54
2.47
1.88
1.75
10.03
10.03
114
113,387
2017 ≤5
2016
7.81
7.33
1.67
2016 NA NA
7.81
7.81 ≤5
113
99,889
2015
2015
4.35
3.89
1.51 NA NA
4.35
4.35 ≤5 51
94,574
2014*
(0.07)
(0.10)
0.15
2014 NA NA NA NA ≤5 46
100,577
*Cumulative
return
for
the
period is
from
December 1,
2014
(inception of
strategy) to
December
31,
2014.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
market
sectors
collateralized by
non-agency
residential
housing
(NARMBS), to
provide
direct,
focused
exposure to
this
specific
sector.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
December 1,
2014.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Mortgage-Backed
Securities
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
U.S.
Mortgage-Backed
Securities
Index
includes
the
RMBS
sector of
the
Bloomberg
Barclays
Aggregate
universe.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

44. Schedule of Composite Performance
Voya
Securitized
Credit
Opportunistic
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
VSCO_
Year
Gross
Returns
(%)
Net
Returns
(%)
Securitized
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
3.01
2.55
0.99
1.65
2.25
3.14
3.14 ≤5
576
106,335
2018
2017
9.00
8.52
2.51
1.74
1.78
9.12
8.69 ≤5
470
113,387
2017
2016
5.89
5.41
1.78 NA NA
6.39
5.75 ≤5
387
99,889
2016
4.82
4.35
1.47
4.70
4.70
234
94,574
2015
2015 NA NA ≤5
2014*
1.08
1.01
0.78 NA NA NA NA ≤5
103
100,577
2014
*Cumulative
return
for
the
period is
from
November 1,
2014
(inception of
strategy) to
December
31,
2014.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Securitized
Credit
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
opportunistically in
market
sectors
collateralized by
distinct
asset
types:
commercial
real
estate
(CMBS),
non-agency
residential
housing
(RMBS)
and
nonmortgage
assets
(ABS) in a
fully-unconstrained
manner.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted on
November 1,
2014,
and
created on
July 1,
2018.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Securitized
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
U.S.
Securitized
Index
includes
the
MBS,
ABS,
and
CMBS
sectors of
the
Bloomberg
Barclays
Aggregate
universe.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

45. Schedule of Composite Performance
Voya
Securitized
Credit
Investment
Grade
Focused
Composite
Bloomberg
Barclays
U.S.
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
VSCIG_
Year
Gross
Returns
(%)
Net
Returns
(%)
Securitized
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2.06
1.61
0.99
2018
N/A
N/A
3.17
3.17 ≤5
209
106,335
2017*
1.17
1.05
0.16
2017*
N/A
N/A
N/A
N/A ≤5 76
113,387
*Cumulative
return
for
the
period is
from
October 1,
2017
(inception of
strategy) to
December
31,
2017.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
opportunistically in
market
sectors
collateralized by
distinct
asset
types:
commercial
real
estate
(CMBS),
non-agency
residential
housing
(RMBS)
and
nonmortgage
assets
(ABS) in a
risk-constrained
manner by
focusing on
higher
quality
(investment
grade)
issues.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted on
October 1,
2017,
and
created on
August 1,
2018.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Securitized
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
U.S.
Securitized
Index
includes
the
MBS,
ABS,
and
CMBS
sectors of
the
Bloomberg
Barclays
Aggregate
universe.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$150
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

46. Schedule of Composite Performance
Voya
Multi-Sector
Enhanced
Intermediate
Composite
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
EHIN_C
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.86
0.59
0.92
N/A
N/A
1.03
0.91 ≤5
1,000
106,335
2018
2017*
1.96
1.71
2.09
N/A
N/A
N/A
N/A ≤5
114
113,387
2017*
*Cumulative
return
for
the
period is
from
Feburary 1,
2017
(inception of
strategy) to
December
31,
2017.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
designed
for
defined
contribution
plan
sponsors
seeking to
provide
participants
with
capital
preservation
and
attractive
rates of
return by
investing in
debt
securities
across
multiple
sectors
and
industries,
while
maintaining an
intermediate
duration
close to
that of
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index.
Effective
April 1,
2019, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that,
the
asset
minimum
was
$100
million.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
This
composite
was
incepted
and
created on
February 1,
2017.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Intermediate
Aggregate
Index
represents a
broad
universe of
fixed
rate,
dollar-
denominated,
investment
grade
government,
corporate,
mortgage
pass-through,
and
asset-backed
securities
with
maturities of
1-10
years.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.27% at
100% of
the
assets
under
management.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

47. Schedule of Composite Performance
Voya
GNMA
Fixed
Income
Composite
Bloomberg
Barclays
U.S.
GNMA
Returns
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GNMNY
Year
Gross
Returns
(%)
Net
Returns
(%)
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.74
1.43
1.02
1.88
2.16
1.74
1.74 ≤5
888
106,335
2018
2017
2.56
2.25
1.86
1.45
1.55
2.56
2.56 ≤5
1,114
113,387
2017
2016
2.51
2.20
1.56
1.75
2.01
2.51
2.51 ≤5
1,394
99,889
2016
2015
2.58
2.28
1.39
2.13
2.54
2.58
2.58 ≤5
1,099
94,574
2015
2014
6.00
5.68
5.97
2.10
2.53
6.00
6.00 ≤5
845
100,577
2014
2013
(0.95)
(1.24)
(2.12)
2.15
2.49
(0.95)
(0.95) ≤5
859
93,084
2013
2012
3.77
3.46
2.42
1.77
1.92
3.77
3.77 ≤5
1,198
76,532
2012
2011
8.47
8.14
7.90
2.23
2.90
8.47
8.47
910
65,776
2011 ≤5
2010
7.14
6.82
6.67
3.19
4.62
7.14
7.14 ≤5
820
60,236
2010
5.96
5.65
2.16
3.29
4.81
6.06
6.06
808
61,643
2009
2009 ≤5
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
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.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a $3
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
was
incepted
and
created on
January 1,
1993.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
GNMA
Index
which 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.
Prior to
June 1,
2009
the
benchmark
used a
customized
blend of
80%
Bloomberg
Barclays
Capital
MBS
Fixed
Rate
GNMA
and
20%
Bloomberg
Barclays
Capital
U.S.
Treasury
Long
Index.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.30% on
the
first
$100
million;
0.20% on
the
next
$250
million;
and
0.15%
over
$350
million;
Minimum
fee is
$250,000.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

48. Schedule of Composite Performance
Voya
Senior
Loan
Leveraged
Composite
S&P
LSTA
Leveraged
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
SD_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Loan
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
1.50
1.00
0.44
3.96
2.86
1.75
1.39 ≤5
1,097
106,335
2018
2017
5.12
4.61
4.12
3.45
2.70
5.12
5.11 ≤5
1,243
113,387
2017
2016
13.95
13.28
10.16
3.58
2.89
14.03
13.82 ≤5
1,350
99,889
2016
2015
1.54
0.93
(0.69)
2.74
2.11
1.80
1.17 ≤5
1,317
94,574
2015
2014
4.18
3.56
1.60
2.80
2.10
4.53
3.82 ≤5
1,562
100,577
2014
2013
11.09
10.43
5.29
5.19
3.77
11.38
10.83 ≤5
1,762
93,084
2013
2012
16.29
15.60
9.66
5.78
4.42
16.82
15.95 ≤5
1,424
76,532
2012
2011
1.16
0.56
1.52
10.90
8.43
1.16
1.16 ≤5
578
65,776
2011
2010
11.32
10.66
10.13
18.78
13.86
11.32
11.32 ≤5
777
60,236
2010
2009
66.75
65.79
51.62
18.73
13.88
66.75
66.75 ≤5
907
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Senior
Loan
Leveraged
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed,
ultra-short
duration
floating
rate
income
strategy
that
invests
primarily in
privately
syndicated,
below
investment
grade
senior
secured
corporate
loans
while
utilizing
borrowed
funds
(leverage).
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$100
million
minimum
has
been
set
for
inclusion in
the
composite.
Prior to
July 1,
2015,
the
minimum
was
$50
million
minimum
and
prior to
July 1,
2006 no
portfolios
were
excluded
based on
size.
This
composite
was
incepted
and
created on
April 1,
2001.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
LSTA
Leveraged
Loan
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
LSTA
Leveraged
Loan
Index is a
market
value
weighted
syndicated
loan
indexes
based
upon
market
weightings,
spreads
and
interest
payments.
The
S&P
LSTA
Leveraged
Loan
Index
covers
the
U.S.
market
back to
1997.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.50% on
the
first
$100
million;
0.46% on
the
next
$100
million;
0.40% on
the
next
$300
million;
and
0.30%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
The
Voya
Senior
Loan
strategy
may
include
borrowing an
amount up to
33%
(or
such
other
percentage as
permitted by
law
and
client
guidelines
and
constraints) of
total
assets
(including
the
amount
borrowed)
less
all
liabilities
other
than
debt
incurred
for
the
purpose of
making
additional
investments.
Leverage is
used
for
the
purpose of
making
additional
investments
only if it is
believed
that
the
total
return on
the
assets
purchased
will
exceed
interest
payments
and
other
costs on
the
leverage.
Leverage
may
also be
used to
meet
cash
requirements.
The
Voya
Senior
Loan
strategy
generally
expects to
incur
floating
rate
debt.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

49. Schedule of Composite Performance
Voya
Senior
Loan
Unleveraged
Composite
S&P
LSTA
Leveraged
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
SLUSU
Year
Gross
Returns
(%)
Net
Returns
(%)
Loan
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
0.78
0.28
0.44
2.53
2.86
0.82
0.65 6
4,771
106,335
2018
2017
3.65
3.15
4.12
2.12
2.70
4.00
3.56 6
4,994
113,387
2017
2016
8.66
8.13
10.16
2.22
2.89
9.76
8.21 6
4,087
99,889
2016
2015
1.43
0.93
(0.69)
1.70
2.11
1.66
0.97 7
3,632
94,574
2015
2014
2.55
2.04
1.60
1.91
2.10
3.05
2.38 7
3,633
100,577
2014
2013
6.49
5.96
5.29
3.74
3.77
6.67
6.01 6
2,492
93,084
2013
2012
11.27
10.72
9.66
4.40
4.42
10.64
9.98 ≤5
958
76,532
2012
2011
2.01
1.40
1.52
8.51
8.43
2.71
1.47 ≤5
2,637
65,776
2011
2010
9.98
9.33
10.13
14.11
13.86
10.11
9.34 ≤5
2,288
60,236
2010
2009
52.84
51.95
51.62
14.09
13.88
56.48
42.10 ≤5
2,354
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Senior
Loan
Unleveraged
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is an
actively
managed,
ultra-short
duration
floating
rate
income
strategy
that
invests
primarily in
privately
syndicated,
below
investment
grade
senior
secured
corporate
loans
without
the
utilization of
borrowed
funds
(leverage).
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effect
July 1,
2015 a
$100
million
minimum
has
been
set
for
inclusion in
the
composite.
Previously,
the
minimum
was
$50
million,
and
prior to
September 1,
2008, no
portfolios
were
excluded
based on
size.
This
composite
incepted on
April 1,
2001
and
created in
August
2009.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P
LSTA
Leveraged
Loan
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
S&P
LSTA
Leveraged
Loan
Index is a
market
value
weighted
syndicated
loan
indexes
based
upon
market
weightings,
spreads
and
interest
payments.
The
S&P
LSTA
Leveraged
Loan
Index
covers
the
U.S.
market
back to
1997.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
The
current
fee
schedule
for
this
strategy
is:
0.50% on
the
first
$100
million;
0.46% on
the
next
$100
million;
0.40% on
the
next
$300
million;
and
0.30%
over
$500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

50. Schedule of Composite Performance
Voya
Senior
Loan
EUR
Unleveraged
Composite
S&P/LSTA
Leveraged
Loan
Composite 3-
Benchmark 3-
Dispersion of
Number of
Assets in
this
Total
Firm
SLEUR
Year
Gross
Returns
(%)
Net
Returns
(%)
Hedged to
Euro
Returns
(%) Yr St
Dev
(%) Yr St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
(€mm)
Assets
(€mm)
High
Low
2018
(1.69)
(2.18)
(2.39)
2.59
2.92
(1.69)
(1.69) ≤5
3,635
93,019
2018
2017
1.64
1.13
2.10
2.10
2.64
1.64
1.64 ≤5
4,688
94,426
2017
2016
7.10
6.57
8.55
2.17
2.83
7.10
7.10 ≤5
4,604
94,704
2016
2015
1.15
0.65
(1.27)
1.61
2.15
1.15
1.15 ≤5
3,881
87,061
2015
2014
2.45
1.94
1.46
1.75
2.11
2.45
2.45 ≤5
3,642
83,119
2014
2013
5.33
4.80
5.06
3.44
3.70
5.33
5.33 ≤5
4,387
67,552
2013
2012
9.87
9.23
9.24
4.15
4.40
9.87
9.87 ≤5
2,345
58,049
2012
2011
2.55
1.94
1.89
7.31
8.45
2.55
2.55 ≤5
1,999
50,669
2011
2010
8.75
8.11
9.82
12.91
13.95
8.75
8.75 ≤5
2,034
44,900
2010
2009
42.81
41.99
51.95
12.85
13.97
42.81
42.81 ≤5
2,145
42,964
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
Composite
returns
are
calculated
from
fully
discretionary
portfolios
managed to
the
intended
investment
strategy
with a
view
towards
outperforming
the
index
over
full
market
cycles
while
maintaining a
market
level of
risk.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
Euros.
Effective
July 1,
2006, a
€50
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
was
created
and
incepted on
October 1,
2005.
Benchmark
Definition:
Returns
are
benchmarked to
the
S&P/LSTA
Leveraged
Loan
Index
Hedged to
the
Euro,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios. To
produce an
index
return
hedged to
the
Euro,
the
Firm
recalculates
the
returns
for
the
S&P/LSTA
Leveraged
Loan
Index by
adjusting
the
returns to
reflect
the
difference
between
the
Euro
spot
rate
and
the
Euro 1-
month
forward
rate as of
each
monthly
valuation
date.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.50% on
the
first
€100
million;
0.45% on
the
next
€150
million;
0.40% on
the
next
€250
million;
and
0.30%
over
€500
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

51. Schedule of Composite Performance
Voya
High
Yield
Composite
Bloomberg
Barclays
U.S.
High
Yield 2%
Issuer
Cap
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
HY_CO
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(2.43)
(2.92)
(2.08)
3.91
4.59
(2.41)
(2.45) ≤5
888
106,335
2018
2017
7.03
6.52
7.50
4.54
5.56
7.04
7.02 ≤5
1,170
113,387
2017
2016
14.88
14.32
17.13
5.09
5.99
15.51
14.27 ≤5
1,355
99,889
2016
2015
(1.05)
(1.54)
(4.43)
5.10
5.25
(0.66)
(1.35) ≤5
1,158
94,574
2015
2014
2.28
1.77
2.46
4.71
4.50
2.52
2.52 ≤5
1,287
100,577
2014
2013
9.11
8.57
7.44
6.55
6.43
9.11
9.11 ≤5
346
93,084
2013
2012
16.91
16.40
15.78
7.29
7.07
16.91
16.91 ≤5
205
76,532
2012
2011
6.50
6.03
4.96
10.55
11.00
6.50
6.50 ≤5
153
65,776
2011
2010
15.27
14.76
14.94
16.79
16.76
15.27
15.27 ≤5
122
60,236
2010
2009
47.66
47.02
58.76
16.53
16.66
47.66
47.66 ≤5
106
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
High
Yield
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests in
below-investment
grade
debt
securities
across
multiple
sectors
and
industries in
order to
maximize
total
return
through
income
and
capital
appreciation,
with an
objective to
outperform
the
Bloomberg
Barclays
U.S.
High
Yield 2%
Issuer
Cap
Index.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
January 1,
2003, a
$25
million
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that, no
portfolios
were
excluded
based on
size.
This
composite
was
incepted
and
created on
January 1,
1999.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
High
Yield 2%
Issuer
Cap
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
High
Yield 2%
Issuer
Cap
Index
covers
the
universe of
fixed
rate,
dollar-
denominated,
non-investment
grade
debt,
including
both
corporate
(Industrial,
Utility,
and
Finance)
and
non-corporate
(Sovereign,
Supranational,
Foreign
Agency,
and
Foreign
Local
Government)
sectors,
and
limits
any
individual
issuer to a
maximum of 2%
benchmark
exposure.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.45% on
the
first
$150
million;
0.40% on
the
next
$250
million;
and
0.35%
over
$400
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

52. Schedule of Composite Performance
Voya
Absolute
Alpha
Custom
Composite
Custom
Benchmark
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
Assets
PORT_
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
($mm)
High
Low
2018
2018
(4.80)
(5.75)
(3.27)
6.12
6.15
(4.80)
(4.80) ≤5
898
106,335
2017
18.04
16.88
16.59
6.44
6.54
18.04
18.04 ≤5
1,065
113,387
2017
2016
2016
8.49
7.42
7.13
7.46
7.49
8.49
8.49 ≤5
996
99,889
2015
1.86
0.85
0.71
8.74
8.57
1.86
1.86 ≤5
918
94,574
2015
2014
2014
12.35
11.24
9.73
9.45
9.38
12.35
12.35 ≤5
1,028
100,577
2013
31.59
30.31
30.19
13.24
13.04
31.59
31.59 ≤5
915
93,084
2013
2012
2012
18.68
17.63
16.70
16.18
16.15
18.68
18.68 ≤5
907
76,532
2011
(0.94)
(1.83)
(2.14)
19.42
19.29
(0.94)
(0.94) ≤5
764
65,776
2011
2010
15.00
13.99
14.97
21.83
20.85
15.00
15.00
2010 ≤5
772
60,236
2009
36.93
35.74
32.27 NA NA
36.93
36.93 ≤5
671
61,643
2009
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
Voya
Absolute
Alpha
uses a
multi-strategy
approach,
combining an
optimal
mix of 5
-15
select
strategies
sourced
from a
multitude of
Voya
Investment
platforms
into a
customized
portfolio to
meet
the
dynamic
needs of
our
client.
Alpha
can be
ported to
any
liquid
benchmark,
and
this
particular
composite
uses a
custom-blended
index of
the
client’s
asset
allocation.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$25
million
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
February 1,
2007.
The
strategy
has
the
flexibility to
allocate
portions of
the
portfolio to
outside
sub-advisors
and
has
done so at
various
points in
time
throughout
the
tenure of
the
composite. As of
12/31/2018,
the
strategy
employed
the
following
sub-advisors:
Sub-advisor
utilized \
Investment
Strategy \
Allocation
(rounded):
CBRE
Clarion
Securities,
LLC \
Real
Estate \ 7%
Benchmark
Definition:
Returns
are
benchmarked to a
customized
blend of
20%
S&P500,
60%
Bloomberg
Barclays
Long
Government,
and
20%
MSCI
EAFE
(Net)
Indexes as of
December 31
2018,
rebalanced on a
monthly
basis.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.The
breakdown of
the
custom
benchmark
for
different
periods is
available
upon
request.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
1.00% on
the
first
$25
million;
0.90% on
the
next
$50
million;
and
0.80% on
the
next,
0.70%
over
$250
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
The
investment
strategy
makes
regular
use of
various
types of
derivatives
instruments
including
options,
futures,
forwards,
and
swaps,
used
exclusively
for
purposes of
beta
management
and
currency
hedging.
Derivatives in
general
will be
used
when
the
sum of
market
exposures
inherent in
the
underlying
investment
strategies
does
not
match
the
client's
benchmark.
Long
and
short
positions
can be
taken in
various
markets
and
currencies to
bridge
the
gap
between
actual
and
desired
exposures.
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

53. Schedule of Composite Performance
Voya
Diversified
Emerging
Markets
Debt
Fund
Composite
Custom
JPM
Diversified
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
DIEMDF
Year
Gross
Returns
(%)
Net
Returns
(%)
Blend(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(4.12)
(4.79)
(3.96)
5.88
6.23
(4.12)
(4.12) ≤5 17
106,335
2017
11.32
10.55
11.13
5.29
6.18
11.32
11.32 ≤5 23
113,387
2017
2016
7.69
6.94
10.04
5.69
6.99
7.69
7.69
2016 ≤5 18
99,889
2015
(0.81)
(1.50)
(4.39)
6.34
6.77
(0.81)
(0.81) ≤5 1
94,574
2015
2014
2014
5.87
5.14
2.13 NA NA
5.87
5.87 ≤5 1
100,577
2013
(5.39)
(6.05)
(4.95) NA NA
(5.39)
(5.39) ≤5 1
93,084
2013
2012*
1.76
1.70
1.25
2012 NA NA NA NA ≤5 1
76,532
*Cumulative
return
for
the
period is
from
December 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
debt
instruments of
issuers in
emerging
markets
countries or
debt
instruments
that
have
principal
denominated in
emerging
markets
countries
including
both
sovereign
and
corporate
debt
denominated in
local
and
hard
currencies.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
December 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to a
customized
blend of
1/3 JP
Morgan
Government
Bond
Index -
Emerging
Markets
Global
Diversified
USD
Index,
1/3 JP
Morgan
Emerging
Markets
Bond
Index -
Global
Diversified
Index,
and
1/3 JP
Morgan
Corporate
Emerging
Markets
Bond,
rebalanced on a
monthly
basis.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.55% on
the
first
$100
million;
0.50% on
the
next
$200
million;
and
0.45%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

54. Schedule of Composite Performance
Voya
Emerging
Markets
Corporate
Debt
Fund
Composite
JPM
Corporate
EMBI
Diversified
Composite
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
EMCRP
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(1.76)
(2.44)
(1.72)
3.98
3.63
2018
(1.76)
(1.76) ≤5
104
106,335
2017
9.54
8.79
7.89
4.10
4.10
9.54
9.54 ≤5
108
113,387
2017
2016
9.68
8.92
10.43
4.68
4.66
9.68
9.68 ≤5 99
99,889
2016
2015
0.64
(0.06)
1.18
5.29
5.26
0.64
0.64 ≤5 86
94,574
2015
2014
6.27
5.53
5.70 NA NA
6.27
6.27
2014 ≤5 82
100,577
2013
(1.19)
(1.88)
(1.73) NA NA
(1.19)
(1.19) ≤5 64
93,084
2013
2012*
5.63
5.38
4.62 NA NA NA NA ≤5
102
76,532
2012
*Cumulative
return
for
the
period is
from
September 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
debt
instruments of
corporate
issuers in
emerging
markets
countries.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
Benchmark
September
Definition: 1,
2012.
Returns
are
benchmarked to
the
JPM
Corporate
EMBI
Diversified
Composite
Index:
The
Index
tracks
total
returns of US
dollar-denominated
debt
instruments
issued by
corporate
entities in
Emerging
Markets
countries.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.55% on
the
first
$100
million;
0.50% on
the
next
$200
million;
and
0.45%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

55. Schedule of Composite Performance
Voya
Emerging
Markets
Hard
Currency
Composite
JPM
EMBI
Global
Diversified
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
EMHCD
Year
Gross
Returns
(%)
Net
Returns
(%)
Composite
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(4.65)
(5.32)
(4.26)
5.56
5.46
(4.65)
(4.65) ≤5
171
106,335
2018
2017
11.65
10.88
10.26
5.37
5.04
11.65
11.65 ≤5
164
113,387
2017
2016
10.37
9.61
10.15
6.19
5.78
10.37
10.37 ≤5
146
99,889
2016
2015
1.97
1.26
1.18
6.87
6.51
1.97
1.97 ≤5
130
94,574
2015
2014
7.24
6.50
7.43 NA NA
7.24
7.24 ≤5
160
100,577
2014
2013
(5.01)
(5.67)
(5.25) NA NA
(5.01)
(5.01) ≤5
161
93,084
2013
2012*
5.61
5.37
4.47 NA NA NA NA ≤5
182
76,532
2012
*Cumulative
return
for
the
period is
from
September 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
debt
instruments of
governments
and
governmental
entities,
agencies
and/or
are
guaranteed by
governments of
emerging
markets
countries
which
are
denominated in US
dollars
and
foreign
hard
currencies.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
and
created on
September 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
JPM
EMBI
Global
Diversified
Composite
Index:
The
JPM
EMBI
Global
Diversified
Composite
Index is a
uniquely-weighted
version of
the
EMBI
Global. It
limits
the
weights of
those
index
countries
with
larger
debt
stocks by
only
including
specified
portions of
these
countries’
eligible
current
face
amounts of
debt
outstanding.
The
countries
covered in
the
EMBI
Global
Diversified
are
identical to
those
covered by
the
EMBI
Global.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.48% on
the
first
$100
million;
0.42% on
the
next
$200
million;
and
0.35%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

56. Schedule of Composite Performance
Voya
Emerging
Markets
Local
Currency
Composite
JPM
GBI-EM
Global
Diversified
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
EMLCD
Year
Gross
Returns
(%)
Net
Returns
(%)
Composite
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(6.68)
(7.33)
(6.21)
10.16
11.09
(6.68)
(6.68) ≤5 72
106,335
2018
2017
14.87
14.08
15.21
9.29
10.87
14.87
14.87 ≤5
100
113,387
2017
2016
5.85
5.12
9.94
10.49
11.97
5.85
5.85 ≤5 85
99,889
2016
2015
2015
(13.47)
(14.08)
(14.92)
10.59
10.35
(13.47)
(13.47) ≤5 76
94,574
2014
(5.18)
(5.84)
(5.72) NA NA
(5.18)
(5.18) ≤5 88
100,577
2014
2013
(11.42)
(12.04)
(8.98) NA NA
(11.42)
(11.42) ≤5 93
93,084
2013
2012*
7.87
7.63
6.86 NA NA NA NA ≤5
152
76,532
2012
*Cumulative
return
for
the
period is
from
September 1,
2012
(inception of
strategy) to
December
31,
2012.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
strategy
that
invests
primarily in
debt
instruments
which
are
denominated in
currencies of
emerging
markets
countries.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. No
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
incepted
Benchmark
and
created
Definition: on
September 1,
2012.
Returns
are
benchmarked to
the
JPM
GBI-EM
Global
Diversified
Composite
Index
which
tracks
total
returns
for US
dollar-denominated
debt
instruments
issued by
emerging
market
sovereign
and
quasi-sovereign
entities:
Brady
bonds,
loans,
Eurobonds.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
The
hypothetical
management
fee is
equal to
the
highest
fee
from
any
fee
schedule
offered at
the
time
for
the
strategy
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
The
annual
management
fee
will
vary
according to
the
size of
the
account,
and
will
depend on
the
type of
investment
vehicle
selected.
The
current
fee
schedule
for
this
strategy
is:
0.52% on
the
first
$100
million;
0.47% on
the
next
$200
million;
and
0.40%
over
$300
million.
However,
fee
schedules
may
differ
for
pooled
trusts or
other
types of
investment
vehicles.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

57. SMA
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

58. Schedule of Composite Performance
Voya
Concentrated
Intermediate
Fixed
Income
SMA
Composite
Bloomberg
Barclays
U.S.
"Pure"
Gross
Intermediate
Government/Credit
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
CINF
Year
Net
Returns
(%)
Returns
(%)*
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018
(0.88)
1.10
0.88
2.04
2.09
0.02 35 34
106,335
###
2017
0.00
2.00
2.14
2.04
2.11
0.04 41 21
113,387
###
2016
0.13
2.13
2.08
2.17
2.23
0.14 54 27
99,889
###
2015
(0.51)
1.48
1.07
2.13
2.10
0.09 51 20
94,574
###
2014
1.08
3.11
3.13
2.08
1.94
0.07 59 25
100,577
###
2013
(2.54)
(0.54)
(0.86)
2.26
2.11
0.07 72 32
93,084
###
2012
2.62
4.71
3.89
2.26
2.16
0.08
125 50
76,532
###
2011
2.95
5.08
5.80
2.83
2.55
0.06
198 92
65,776
###
2010
3.71
5.85
5.89
4.14
3.91
0.18
228
105
60,236
###
2009
1.99
4.08
5.24
4.17
3.82
0.10
231
113
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
seeks to
provide
total
return
while
preserving
capital,
largely
through
the
use of
treasuries,
non-securitized
agencies,
and
corporate
credit
securities of
1-10
year
maturities.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$100,000
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
February 1,
2006.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Intermediate
Government/Credit
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Intermediate
Government/Credit
Index
includes
fixed
rate,
dollar-
denominated,
investment
grade
securities
with
maturities of
1-10
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

59. Schedule of Composite Performance
Voya
Intermediate
Fixed
Income
SMA
Composite
Bloomberg
Barclays
U.S.
"Pure"
Gross
Intermediate
Government/Credit
Composite
3-Yr St
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
INF
Year
Net
Returns
(%)
Returns
(%)*
Returns
(%)
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018
(0.86)
1.12
0.88
2.04
2.09
0.03
916
349
106,335
###
2017
(0.01)
1.99
2.14
2.04
2.11
0.05
1,012
377
113,387
###
2016
0.13
2.14
2.08
2.16
2.23
0.05
1,042
389
99,889
###
2015
(0.48)
1.51
1.07
2.11
2.10
0.04
1,002
396
94,574
###
2014
1.00
3.04
3.13
2.09
1.94
0.06
957
472
100,577
###
2013
(2.48)
(0.48)
(0.86)
2.27
2.11
0.06
1,034
532
93,084
###
2012
2.35
4.44
3.89
2.33
2.16
0.11
1,479
844
76,532
###
2011
3.10
5.22
5.80
2.67
2.55
0.12
1,726
961
65,776
###
2010
3.48
5.61
5.89
3.94
3.91
0.14
1,668
948
60,236
###
2009
2.63
4.74
5.24
3.89
3.82
0.12
1,722
849
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Intermediate
Fixed
Income
SMA
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
seeks to
provide
total
return
while
preserving
capital,
largely
through
the
use of
treasuries,
agencies,
and
corporate
credit
securities of
1-10
year
maturities.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$100,000
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
incepted on
January 1,
1993
and
was
created in
September
2003.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bloomberg
Barclays
U.S.
Intermediate
Government/Credit
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bloomberg
Barclays
U.S.
Intermediate
Government/Credit
Index
includes
fixed
rate,
dollar-
denominated,
investment
grade
securities
with
maturities of
1-10
years
held
within
both
the
Bloomberg
Barclays
U.S.
Government
Index
(public
obligations of
the
U.S.
Treasury,
U.S.
Government
agencies,
quasi-federal
corporations,
and
corporate or
foreign
debt
guaranteed by
the
U.S.
Government)
and
the
Bloomberg
Barclays
U.S.
Credit
Index
(publicly
issued
U.S.
corporate
and
foreign
debentures
and
secured
notes).
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

60. Schedule of Composite Performance
Voya
High
Yield
SMA
Composite
The
ICE
Bank of
America
Merrill
Lynch
"Pure"
Gross
U.S.
HighYield
Master II
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
HYLD
Year
Net
Returns
(%)
Returns
(%)*
Constrained
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018
(3.59)
(1.66)
(2.27)
2.87
4.64
0.14 81 37
106,335
###
2017
3.48
5.54
7.48
3.57
5.59
0.26
112 60
113,387
###
2016
6.87
9.00
17.49
4.17
6.02
0.76 98 48
99,889
###
2015
(3.05)
(1.11)
(4.61)
4.37
5.26
0.33 85 38
94,574
###
2014
1.14
3.18
2.51
4.06
4.44
0.19 98 44
100,577
###
2013
2.68
4.78
7.40
5.23
6.42
0.17 84 59
93,084
###
2012
8.00
10.21
15.55
5.40
7.02
0.31 95 62
76,532
###
2011
5.00
7.14
4.37
6.12
10.96
0.18 74 46
65,776
###
2010
8.28
10.47
15.07
10.36
16.79
0.33 51 31
60,236
###
2009
15.04
17.39
58.10
10.19
16.66
0.51 30 20
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
High
Yield
SMA
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
invests in
below-investment
grade
debt
securities
across
multiple
sectors
and
industries in
order to
maximize
total
return
through
income
and
capital
appreciation.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars.
Effective
April 1,
2009, a
$200,000
minimum
has
been
set
for
inclusion in
the
composite,
and
prior to
that,
the
asset
minimum
was
$500,000.
This
composite
was
created
and
incepted on
July 1,
2003.
Benchmark
Definition:
Returns
are
benchmarked to
the
ICE
Bank of
America
Merrill
Lynch
U.S.
High
Yield
Master II
Constrained
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
ICE
Bank of
America
Merrill
Lynch
U.S.
High
Yield
Master II
Constrained
Index is a
market
value-weighted
index
consisting of
U.S.
dollar-denominated,
non-investment
grade
bonds
not
currently in
default
and
limits
any
individual
issuer to a
maximum of 2%
benchmark
exposure.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

61. Schedule of Composite Performance
Voya
Enhanced
Yield
Fixed
Income
SMA
Composite
"Pure"
Gross
Custom
Benchmark
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
ENF
Year
Net
Returns
(%)
Returns
(%)*
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018
(2.15)
(0.19)
(0.36)
2.03
2.26
0.06 86 60
106,335
###
2017
1.77
3.81
4.25
2.35
2.69
0.11
121 84
113,387
###
2016
3.65
5.72
8.05
2.74
2.96
0.18
131 89
99,889
###
2015
(1.76)
0.21
(1.19)
2.92
2.83
0.14
127 92
94,574
###
2014
1.24
3.28
2.89
2.90
2.64
0.07
152
126
100,577
###
2013
(0.15)
1.90
2.39
3.35
3.19
0.28
156
120
93,084
###
2012
5.33
7.48
8.43
3.31
3.21
0.26
182
144
76,532
###
2011
4.19
6.32
5.33
3.47
4.81
0.19
172
167
65,776
###
2010
6.03
8.21
9.54
4.83
7.61
0.17
175
149
60,236
###
2009
7.00
9.22
24.25
4.57
7.51
0.38
172
147
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Enhanced
Yield
Fixed
Income
SMA
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
seeks to
generate
higher
income
than
pure
investment
grade
bonds by
adding
selective
high
yield
bond
exposure
while
preserving
principal.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$250,000
minimum
has
been
set
for
inclusion in
the
composite.
The
name of
this
composite
changed in
January
2019.
The
composite
was
formerly
known as
Voya
Strategic
Fixed
(Intermediate)
SMA
Composite.This
composite
incepted on
July 1,
2001
and
was
created in
July
2003.
Benchmark
Definition:
Returns
are
benchmarked to a
customized
blend of
60%
Bloomberg
Barclays
Intermediate
Gov/Credit
Index
&
40%
Bank of
America
Merrill
Lynch US
High
Yield
Master II
Constrained
Index,
rebalanced on a
monthly
basis,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

62. Schedule of Composite Performance
Voya
Multi-Strategy
Fixed
Income
SMA
Composite
"Pure"
Gross
Merrill
Lynch
U.S.
Corporate
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
SCFX
Year
Net
Returns
(%)
Returns
(%)*
Government
1-10
Year
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018
(1.32)
0.66
0.89
1.86
2.04
0.02 80 19
106,335
###
2017
0.25
2.25
2.17
1.83
2.08
0.03 87 21
113,387
###
2016
0.43
2.44
2.15
1.92
2.22
0.07 90 24
99,889
###
2015
(0.98)
1.00
1.17
1.94
2.20
0.03 66 19
94,574
###
2014
0.84
2.87
3.34
1.98
2.06
0.03 39 8
100,577
###
2013
(2.03)
(0.01)
(1.03)
2.27
2.20
0.03 47 9
93,084
###
2012
2.51
4.63
4.24
2.32
2.17
0.04 73 15
76,532
###
2011
3.65
5.80
5.88
2.71
2.60
0.07 56 13
65,776
###
2010
3.48
5.59
6.03
4.03
3.97
0.08 24 4
60,236
###
2009
4.15
6.30
5.71 NA NA
0.07 20 4
61,643
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
The
Voya
Multi-Strategy
Fixed
Income
SMA
Composite
has
been
examined
for
the
periods
The
verification
and
performance
examination
reports
are
available
upon
request.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
combines
individual
securities
with an
embedded
pooled
investment
vehicle in
order to
model
our
institutional
investment
model.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$100,000
minimum
has
been
set
for
inclusion in
the
composite.
The
name of
this
composite
changed in
January
2019.
The
composite
was
formerly
known as
Voya
SPorts
Core
Fixed
Income
SMA
Composite.
This
composite
was
created
and
incepted on
August 1,
2007.
Benchmark
Definition:
Returns
are
benchmarked to
the
Bank of
America
Merrill
Lynch
U.S.
Corporate
Government
1-10
Year
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Bank of
America
Merrill
Lynch
1-3
Year
U.S.
Treasury
Index is an
unmanaged
index
comprised of
U.S.
Treasury
securities,
other
than
inflation-protection
securities
and
STRIPS,
with at
least $1
billion in
outstanding
face
value
and a
remaining
term to
final
maturity of at
least
one
year
and
less
than
three
years. It is
not
possible to
invest
directly in an
unmanaged
indexSecurities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

63. Schedule of Composite Performance
Voya
Strategic
Income
SMA
Composite
"Pure"
Gross
Custom
Benchmark
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Portfolio
Number of
Assets in
this
Total
Firm
MSC
Year
Net
Returns
(%)
Returns
(%)*
Returns
(%) St
Dev
(%) St
Dev
(%)
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
###
2018 *
(0.55)
1.12
1.08 NA NA NA 59 56
106,335
*Cumulative
return
for
the
period is
from
March 1,
2018
(inception of
strategy) to
December
31,
2018.
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
This is a
fixed
income
SMA
strategy
that
seeks to
generate
higher
income by
investing
across
individual
bonds
and
higher-yielding
fixed
income
sectors
via
fixed
income
completion
funds,
while
maintaining a
risk
profile
similar to
traditional
fixed
income
and
limiting
downside
risk.
Portfolio
valuations
and
returns
for
this
composite
are
computed
and
stated in
U.S.
dollars. A
$350,000
minimum
has
been
set
for
inclusion in
the
composite.
This
composite
was
created
and
incepted on
March 1,
2018.
Benchmark
Definition:
Returns
are
benchmarked to a
customized
blend of
80%
Bloomberg
Barclays US
Corporate
Bond
1-5
Year
Index
&
20%
Bloomberg
Barclays US
High
Yield
Index,
rebalanced on a
monthly
basis,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
"Pure"
Gross
Returns
are
presented
before
the
deduction of
transaction
costs,
fees or
expenses
and
should be
used as
supplemental
information
only.
Net-of-fees
returns
presented
are
calculated by
subtracting a
hypothetical
maximum
total
wrap
fee
(estimated at
2.00%
per
annum)
from
the
monthly
“pure”
gross-of-fees
returns.
The
total
wrap
fee
includes
transaction
costs,
portfolio
management,
investment
advisory,
custodial
and
other
administrative
costs.
Wrap
fees
vary
amongst
brokerage
firms
and
may be
negotiated
based on
account
size
and
other
factors.
The
hypothetical
maximum
total
wrap
fee
used is
deemed to be
the
maximum
fee
charged to
any
composite
account.
More
information
about
fees
can be
found in
the
Form
ADV
Part II of
Voya
Investment
Management
Co.
LLC.
Explanation of
Risk
Measures:
”Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
calculated
using
the
asset-weighted
standard
deviation of
the
annual
returns of
all
portfolios
that
were
included in
the
composite
for
the
entire
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results. *
"Pure"
Gross
Returns
are
supplemental
information
only.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

64. GPMM
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

65. Schedule of Composite Performance
GPMM
Global
Aggressive
Growth
ETF
Composite
S&P
Target
Risk
SPTGAUT
Aggressive
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GPAGG
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(7.61)
(7.94)
(7.65)
7.84
8.37
(7.61)
(7.61) ≤5
0.01
106,335
2018
2017
16.73
16.37
20.06
6.51
7.96
16.73
16.73 ≤5
0.01
113,387
2017
2016
8.51
8.17
7.71
7.77
8.89
8.51
8.51
0.01
99,889
2016 ≤5
2015
(5.01)
(5.30)
(0.79)
8.28
9.00
2015
(5.01)
(5.01) ≤5
0.01
94,574
2014
6.35
6.02
6.11
N/A
N/A
6.35
6.35 ≤5
0.01
100,577
2014
2013
13.21
12.87
22.52
13.21
13.21
2013
N/A
N/A ≤5
0.01
93,084
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
ETFs
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
ETFs
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
ETFs. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
The
S&P
Target
Risk
Aggressive
Index
emphasizes
exposure to
equities,
maximizing
opportunities
for
long-term
capital
accumulation. It
may
include
small
allocations to
fixed
income to
enhance
portfolio
efficiency.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
The
fund
invests in
exchange
traded
funds
which
may be
subject to
additional
commissions,
operating
expenses,
bid/ask
spreads
and
changes in
discounts
and
premiums to
net
asset
value.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
(estimated at
0.36%
per
annum)
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

66. Schedule of Composite Performance
GPMM
Global
Moderate
Growth
ETF
Composite
S&P
Target
Risk
SPTGMUT
Moderate
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GPMOD
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(6.54)
(6.88)
(3.72)
6.73
4.58
(6.54)
(6.54) ≤5
0.01
106,335
2018
2017
14.57
14.22
11.78
5.82
4.36
14.57
14.57 ≤5
0.01
113,387
2017
2016
7.74
7.41
5.77
6.89
4.95
7.74
7.74
0.01
99,889
2016 ≤5
2015
(4.62)
(4.91)
(1.06)
7.18
5.13
2015
(4.62)
(4.62) ≤5
0.01
94,574
2014
6.72
6.39
4.49
N/A
N/A
6.72
6.72 ≤5
0.01
100,577
2014
2013
9.10
8.77
10.47
2013
N/A
N/A
9.10
9.10 ≤5
0.01
93,084
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
ETFs
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
ETFs
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
ETFs. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
The
S&P
Target
Risk
Moderate
Index
offers
significant
exposure to
fixed
income,
while
also
increasing
opportunities
for
higher
returns
through
equities.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
The
fund
invests in
exchange
traded
funds
which
may be
subject to
additional
commissions,
operating
expenses,
bid/ask
spreads
and
changes in
discounts
and
premiums to
net
asset
value.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
(estimated at
0.36%
per
annum)
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

67. Schedule of Composite Performance
GPMM
Global
Conservative
Growth
ETF
Composite
S&P
Target
Risk
SPTGCUT
Conservative
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GPCON
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(5.29)
(5.63)
(2.73)
5.80
3.77
(5.29)
(5.29) ≤5
0.01
106,335
2018
2017
12.63
12.29
9.70
5.28
3.60
12.63
12.63 ≤5
0.01
113,387
2017
2016
7.01
6.68
5.26
6.15
4.02
7.01
7.01
0.01
99,889
2016 ≤5
2015
(4.38)
(4.68)
(1.06)
6.26
3.99
2015
(4.38)
(4.38) ≤5
0.01
94,574
2014
7.02
6.69
3.97
N/A
N/A
7.02
7.02
2014 ≤5
0.01
100,577
2013
5.04
4.72
6.71
2013
N/A
N/A
5.04
5.04 ≤5
0.01
93,084
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
ETFs
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
ETFs
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
ETFs. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
The
S&P
Target
Risk
Conservative
Index
emphasizes
exposure to
fixed
income in
order to
produce a
consistent
income
stream
and
avoid
excessive
volatility of
returns.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
The
fund
invests in
exchange
traded
funds
which
may be
subject to
additional
commissions,
operating
expenses,
bid/ask
spreads
and
changes in
discounts
and
premiums to
net
asset
value.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
(estimated at
0.36%
per
annum)
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

68. Schedule of Composite Performance
GPMM
Global
Income
ETF
Composite
Barclays
Global
LEHGA
Aggregate
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GPINC
Year
Gross
Returns
(%)
Net
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
(1.59)
(1.94)
(1.20)
4.15
4.90
(1.59)
(1.59) ≤5
0.01
106,335
2018
2017
6.67
6.34
7.39
4.54
4.82
6.67
6.67 ≤5
0.01
113,387
2017
2016
6.35
6.02
2.09
4.96
4.97
6.35
6.35 ≤5
0.01
99,889
2016
2015
(3.56)
(3.86)
(3.15)
4.62
3.90
(3.56)
(3.56) ≤5
0.01
94,574
2015
2014
6.16
5.83
0.59
N/A
N/A
6.16
6.16 ≤5
0.01
100,577
2014
2013
2013
(1.78)
(2.08)
(2.60)
N/A
N/A
(1.78)
(1.78) ≤5
0.01
93,084
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
ETFs
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
ETFs
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
ETFs. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2013.
Benchmark
Definition:
Returns
are
benchmarked to
the
Barclays
Global
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
Global
Aggregate
Index
represents a
broad
universe of
global
investment-grade
fixed
income
markets.
The
three
major
components of
this
index
are
the
U.S.
Aggregate,
the
Pan-European
Aggregate,
and
the
Asian-Pacific
Aggregate
Indices.
The
index
also
includes
Eurodollar
and
Euro-Yen
corporate
bonds,
Canadian
government,
agency
and
corporate
securities,
and
USD
investment
grade
144A
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross-of-fees
returns
are
presented
before
management
and
custodial
fees
but
after
all
trading
expenses.
The
fund
invests in
exchange
traded
funds
which
may be
subject to
additional
commissions,
operating
expenses,
bid/ask
spreads
and
changes in
discounts
and
premiums to
net
asset
value.
Net-of-fees
returns
are
calculated by
deducting a
hypothetical
management
fee
(estimated at
0.36%
per
annum)
from
the
gross
return on a
monthly
basis
and
geometrically
linking
the
results to
produce
annual
returns
shown.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

69. Schedule of Composite Performance
GPMM
Global
Aggressive
Growth
Composite
S&P
Target
Risk
SPTGAUT
Aggressive
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
VOYAA
Year
Gross
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(9.33)
(7.65)
7.61
8.37
(9.33)
(9.33) ≤5
0.01
106,335
2017
18.61
20.06
6.18
7.96
18.61
18.61 ≤5
0.02
113,387
2017
2016
6.18
7.71
7.34
8.89
6.18
6.18
0.01
99,889
2016 ≤5
2015
(3.87)
(0.79)
7.96
9.00
(3.87)
(3.87) ≤5
0.01
94,574
2015
2014
3.96
6.11
8.82
8.56
3.96
3.96 ≤5
0.01
100,577
2014
2013
14.23
22.52
14.23
14.23
0.01
93,084
2013
N/A
N/A ≤5
2012
13.62
15.19
N/A
N/A
13.62
13.62
2012 ≤5
0.01
76,532
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
Mutual
Funds
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
Mutual
Funds
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
Mutual
Funds. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
The
S&P
Target
Risk
Aggressive
Index
emphasizes
exposure to
equities,
maximizing
opportunities
for
long-term
capital
accumulation. It
may
include
small
allocations to
fixed
income to
enhance
portfolio
efficiency.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
Treatment
portfolios. of
Fees
&
Expenses:
Gross
returns
are
net of
all
fees
and
transaction
expenses at
the
underlying
mutual
fund
level,
but
gross of
any
fees
that
may be
applicable to
specific
investment
vehicles
utilized to
implement
the
intended
investment
model.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark 3- Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

70. Schedule of Composite Performance
GPMM
Global
Moderate
Growth
Composite
S&P
Target
Risk
SPTGMUT
Moderate
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
VOYAM
Year
Gross
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(7.42)
(3.72)
6.17
4.58
(7.42)
(7.42) ≤5
0.01
106,335
2017
15.47
11.78
5.14
4.36
15.47
15.47
2017 ≤5
0.02
113,387
2016
6.14
5.77
6.12
4.95
6.14
6.14
0.01
99,889
2016 ≤5
2015
2015
(3.07)
(1.06)
6.68
5.13
(3.07)
(3.07) ≤5
0.01
94,574
2014
3.90
4.49
7.42
4.83
3.90
3.90
0.01
100,577
2014 ≤5
2013
11.01
10.47
N/A
N/A
11.01
11.01 ≤5
0.01
93,084
2013
2012
12.46
8.59
12.46
12.46
0.01
76,532
2012
N/A
N/A ≤5
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
Mutual
Funds
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
Mutual
Funds
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
Mutual
Funds. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
The
S&P
Target
Risk
Moderate
Index
offers
significant
exposure to
fixed
income,
while
also
increasing
opportunities
for
higher
returns
through
equities.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross
returns
are
net of
all
fees
and
transaction
expenses at
the
underlying
mutual
fund
level,
but
gross of
any
fees
that
may be
applicable to
specific
investment
vehicles
utilized to
implement
the
intended
investment
model.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark 3- Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

71. Schedule of Composite Performance
GPMM
Global
Conservative
Growth
Composite
S&P
Target
Risk
SPTGCUT
Conservative
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
VOYAC
Year
Gross
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(5.45)
(2.73)
4.77
3.77
(5.45)
(5.45) ≤5
0.01
106,335
2017
12.37
9.70
4.07
3.60
12.37
12.37 ≤5
0.01
113,387
2017
2016
6.00
5.26
4.86
4.02
6.00
6.00
0.01
99,889
2016 ≤5
2015
(2.67)
(1.06)
5.39
3.99
(2.67)
(2.67) ≤5
0.01
94,574
2015
2014
3.79
3.97
6.03
3.60
3.79
3.79 ≤5
0.01
100,577
2014
2013
7.80
6.71
7.80
7.80
0.01
93,084
2013
N/A
N/A ≤5
2012
11.24
6.59
N/A
N/A
11.24
11.24
2012 ≤5
0.01
76,532
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
Mutual
Funds
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
Mutual
Funds
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
Mutual
Funds. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
The
S&P
Target
Risk
Conservative
Index
emphasizes
exposure to
fixed
income in
order to
produce a
consistent
income
stream
and
avoid
excessive
volatility of
returns.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross
returns
are
net of
all
fees
and
transaction
expenses at
the
underlying
mutual
fund
level,
but
gross of
any
fees
that
may be
applicable to
specific
investment
vehicles
utilized to
implement
the
intended
investment
model.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark 3- Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

72. Schedule of Composite Performance
GPMM
Global
Income
Composite
Barclays
Global
LEHGA
Aggregate
Index
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
VOYAIN
Year
Gross
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(0.86)
(1.20)
2.04
4.90
(0.86)
(0.86) ≤5
0.01
106,335
2017
4.81
7.39
2.20
4.82
4.81
4.81
0.01
113,387
2017 ≤5
2016
6.16
2.09
2.50
4.97
6.16
6.16
0.01
99,889
2016 ≤5
2015
2015
(0.48)
(3.15)
2.72
3.90
(0.48)
(0.48) ≤5
0.01
94,574
2014
3.05
0.59
2.86
3.93
3.05
3.05
2014 ≤5
0.01
100,577
2013
1.22
(2.60)
N/A
N/A
1.22
1.22 ≤5
0.01
93,084
2013
2012
8.21
4.32
N/A
N/A
8.21
8.21 ≤5
0.01
76,532
2012
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
Mutual
Funds
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
Mutual
Funds
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
Mutual
Funds. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to
the
Barclays
Global
Aggregate
Index,
which
does
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
The
Barclays
Global
Aggregate
Index
represents a
broad
universe of
global
investment-
grade
fixed
income
markets.
The
three
major
components of
this
index
are
the
U.S.
Aggregate,
the
Pan-European
Aggregate,
and
the
Asian-Pacific
Aggregate
Indices.
The
index
also
includes
Eurodollar
and
Euro-Yen
corporate
bonds,
Canadian
government,
agency
and
corporate
securities,
and
USD
investment
grade
144A
securities.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross
returns
are
net of
all
fees
and
transaction
expenses at
the
underlying
mutual
fund
level,
but
gross of
any
fees
that
may be
applicable to
specific
investment
vehicles
utilized to
implement
the
intended
investment
model.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark 3- Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.

73. Schedule of Composite Performance
Voya
Global
Perspectives
Moderate
Composite
Custom
CTR_GPMM10M
Benchmark
Composite
3-Yr
Benchmark
3-Yr
Dispersion of
Number of
Assets in
this
Total
Firm
GPMOD
Year
Gross
Returns
(%)
Returns
(%) St
Dev
(%) St
Dev
(%)
Portfolio
Returns
(%)
Portfolios
Composite
($mm)
Assets
($mm)
High
Low
2018
2018
(7.16)
(6.05)
6.13
7.11
(7.02)
(7.47) ≤5
152.12
106,335
2017
15.19
15.39
5.11
6.59
15.47
15.12
2017 ≤5
177.84
113,387
2016
7.04
10.46
6.03
7.39
7.04
6.14
2016 ≤5
193.78
99,889
2015
(3.21)
(2.52)
6.58
7.01
(3.07)
(3.24) ≤5
193.01
94,574
2015
2014
4.25
7.53
7.36
6.86
4.35
3.90
231.63
100,577
2014 ≤5
2013
10.75
11.23
11.01
11.01
35.51
93,084
2013
N/A
N/A ≤5
2012
12.46
15.12
N/A
N/A
12.46
12.46 ≤5
0.01
76,532
2012
Voya
Investment
Management
claims
compliance
with
the
Global
Investment
Performance
Standards
(GIPS®)
and
has
prepared
and
presented
this
report in
compliance
with
the
GIPS
Standards.
Voya
Investment
Management
has
been
independently
verified
for
the
period
January 1,
1996,
through
December
31,
2018.
The
verification
report is
available
upon
request.
Verification
assesses
whether
(1)
the
firm
has
complied
with
all of
the
composite
construction
requirements of
the
GIPS
standards on a
firm-wide
basis
and
(2)
the
firm's
policies
and
procedures
are
designed to
calculate
and
present
performance in
compliance
with
the
GIPS
standards.
Verification
does
not
ensure
the
accuracy of
any
specific
composite
presentation.
Notes:
Firm
Definition:
Voya
Investment
Management
(the
"Firm") is
defined as
all
discretionary
accounts
managed by
Voya
Investment
Management
Co.
LLC
and
its
subsidiary
Voya
Investment
Trust
Co.,
but
not
including
collateralized
debt
obligation
structures,
long/short
hedge
funds,
structured
mortgage
derivative
portfolios, or
specialized
accounts
supporting
the
reinsurance
arrangements of
affiliated
insurance
companies.
Composite
Definition:
The
Manager
uses a
rules-based
investment
strategy to
determine
the
allocation
among
Underlying
Mutual
Funds
that
invest in
equity
securities
and
debt
instruments.
The
proportion of
assets
allocated to
Underlying
Mutual
Funds
that
are
predominantly
invested in
equity
securities
and
those
that
are
predominantly
invested in
debt
instruments is
determined as of
each
calendar
quarter.
Within
each of
the
broadly
globally
diversified
equity
and
debt
asset
classes,
the
strategies
will
seek to
maintain
approximately
equal
weights
across
its
investment in
the
Underlying
Mutual
Funds. No
adjustments to
the
allocations
will be
made
between
quarters.
However, as
soon as
practicable
following
the
end of
each
calendar
quarter,
the
Manager
will
compare
the
aggregate
earnings of
the
companies in
the
S&P
500®
Index
("Index")
for
the
most
recent
reported
calendar
quarter to
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter. If
the
aggregate
earnings
for
the
most
recent
calendar
quarter
are
higher
than
the
aggregate
earnings of
the
companies in
the
Index
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
maintain
the
Base
Allocations
described
above. If
the
aggregate
earnings
for
the
most
recently
completed
calendar
quarter
are
lower
than
the
reported
aggregate
earnings
for
the
previous
year's
corresponding
calendar
quarter,
the
Manager
will
move to a
more
defensive
allocation
and
invest in
accordance
with
the
Defensive
Allocations,
shifting
more
toward
fixed
income as
described
above as
soon as
practicable.
This
composite
was
incepted
and
created on
January 1,
2012.
Benchmark
Definition:
Returns
are
benchmarked to a
customized
blend of
10%
MSCI
EAFE,
10%
MSCI
Emerging
Markets,
10%
S&P
500,
10%
S&P
400,
10%
S&P
600,
10%
FTSE
EPRA/NAREIT
Developed,
10%
Barclays US
Agg
Corp HY 2%
cap,
10%
Barclays
Global
Agg,
10%
Barclays US
Agg
Corp
Investment
Grade,
10%
Barclays US
Treasury
(20+Y)
indexes,
rebalanced on a
quarterly
basis.
These
benchmarks do
not
incur
management
fees,
transaction
costs, or
other
expenses
associated
with a
composite
portfolio.
Securities
prices
used to
value
the
benchmark
index
for
the
purposes of
calculating
total
return
may or
may
not
differ
significantly
from
those
used to
value
securities
held
within
composite
portfolios.
Treatment of
Fees
&
Expenses:
Gross
returns
are
net of
all
fees
and
transaction
expenses at
the
underlying
mutual
fund
level,
but
gross of
any
fees
that
may be
applicable to
specific
investment
vehicles
utilized to
implement
the
intended
investment
model.
While
fee
schedules
can
change
over
time,
any
amended
fee
resulting
from a
change
will
not be
retroactively
applied to
performance
history,
but
will
rather be
applied on a
prospective
basis
from
the
point of
change.
Further
information
regarding
applicable
fee
schedules is
available
upon
request.
Explanation of
Risk
Measures:
"Dispersion of
Portfolio
Returns"
presented
for
each
annual
period is
based on
gross-of-fees
returns
and is
equal to
the
highest
and
lowest
annual
return
among
the
portfolios
that
are
included in
the
composite
for
the
full
year.
"Composite
3-Yr St
Dev"
and
"Benchmark
3-Yr St
Dev"
are
rolling
3-year
standard
deviation
calculations,
which
measure
the
variability of
the
monthly
performance
returns
for
the
composite
and
benchmark
index
return
over
the
preceding
36-month
period on an
annualized
basis. If
the
composite
has
not
been in
existence
for at
least 3
years as of a
particular
year-end,
then
“NA”
will be
displayed.
Other
Notes:
Policies
for
valuing
portfolios,
calculating
performance,
and
preparing
compliant
presentations, as
well as a
complete
list of
composite
descriptions,
are
available
upon
request.
Past
performance is no
guarantee of
future
results.
For one-on-one use only. Not for inspection by, distribution or quotation to, the general public.