# EDGAR Filing Document

**Accession Number:** 0001066602
**File Stem:** 0001104659-25-119583
**Filing Date:** 2025-12
**Character Count:** 1404815
**Document Hash:** eb0f9814ec13f8f237e77bd5e70c13be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-119583.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001104659-25-119583

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 67

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**EFFECTIVENESS DATE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Voya FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001066602

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08895
- **FILM NUMBER:** 251558300

**BUSINESS ADDRESS:**
- **STREET 1:** 7337 E. DOUBLETREE RANCH ROAD, STE 100
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258
- **BUSINESS PHONE:** 800-992-0180

**MAIL ADDRESS:**
- **STREET 1:** 7337 E. DOUBLETREE RANCH ROAD, STE 100
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING FUNDS TRUST
- **DATE OF NAME CHANGE:** 20020205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PILGRIM FUNDS TRUST
- **DATE OF NAME CHANGE:** 20010312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING FUNDS TRUST
- **DATE OF NAME CHANGE:** 19980721

## Series and Classes Contracts Data

### Voya GNMA Income Fund (Series ID: S000008394)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023002 | Class A      | LEXNX           |
| C000023004 | Class C      | LEGNX           |
| C000023005 | Class I      | LEINX           |
| C000057275 | Class W      | IGMWX           |
| C000122009 | Class R6     | VGMBX           |

### Voya High Yield Bond Fund (Series ID: S000008395)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023007 | Class A      | IHYAX           |
| C000023009 | Class C      | IMYCX           |
| C000069597 | Class I      | IHYIX           |
| C000103051 | Class W      | IHYWX           |
| C000139707 | Class R      | IRSTX           |
| C000172347 | Class R6     | VHYRX           |

### Voya Intermediate Bond Fund (Series ID: S000008396)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023011 | Class R      | IIBOX           |
| C000023012 | Class A      | IIBAX           |
| C000023014 | Class C      | IICCX           |
| C000023015 | Class I      | IICIX           |
| C000057276 | Class W      | IIBWX           |
| C000122010 | Class R6     | IIBZX           |

### Voya Strategic Income Opportunities Fund (Series ID: S000038555)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000119020 | Class A      | ISIAX           |
| C000119021 | Class C      | ISICX           |
| C000119022 | Class I      | IISIX           |
| C000119023 | Class R      | ISIRX           |
| C000119024 | Class W      | ISIWX           |
| C000159021 | Class R6     | VSIRX           |

### Voya Short Duration Bond Fund (Series ID: S000039383)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000121358 | Class A      | IASBX           |
| C000121359 | Class C      | ICSBX           |
| C000121360 | Class I      | IISBX           |
| C000121361 | Class R      | VSTRX           |
| C000121362 | Class W      | IWSBX           |
| C000129860 | Class R6     | IGZAX           |

### Voya Government Money Market Fund (Series ID: S000066947)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000215433 | Class W      | VYGXX           |
| C000215435 | Class A      | VYAXX           |
| C000215436 | Class I      | VYCXX           |
| C000215437 | Class C      | VYBXX           |
| C000250818 | Class R6     | VYHXX           |

### Voya VACS Series HYB Fund (Series ID: S000079627)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000240817 | Voya VACS Series HYB Fund | VVITX           |

### Voya Short Duration High Income Fund (Series ID: S000079681)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000240914 | Class I      | VVJCX           |
| C000240915 | Class R6     | VVJDX           |
| C000240916 | Class A      | VVJBX           |
| C000242678 | Class C      | VVJGX           |
| C000259081 | Class W      | VVJWX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: **811-08895**

**Voya Funds Trust**

(Exact name of registrant as specified in charter)

---

| | |
|:---|:---|
| **7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ** | **85258** |
| (Address of principal executive offices) | (Zip code) |

---

**The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801**

(Name and address of agent for service)

Registrant's telephone number, including area code: **1-800-992-0180**

Date of fiscal year end: **March 31**

Date of reporting period: **April 1, 2025 to September 30, 2025**

**Item 1. Reports to Stockholders.**

(a)&nbsp;&nbsp;&nbsp;&nbsp; The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):

**TABLE OF CONTENTS**

---

| |
|:---|
|  [Voya GNMA Income Fund](#classname36e00693-e15e-4092-9799-54caee74841f)<br> **[Class A - LEXNX](#classname36e00693-e15e-4092-9799-54caee74841f)**  |
|  [Voya GNMA Income Fund](#classnamebaf777ef-1003-4bab-87fd-eaaf907ca51e)<br> **[Class C - LEGNX](#classnamebaf777ef-1003-4bab-87fd-eaaf907ca51e)**  |
|  [Voya GNMA Income Fund](#classnamec6067b3d-c049-48c8-9a67-ea4c9d0726a6)<br> **[Class I - LEINX](#classnamec6067b3d-c049-48c8-9a67-ea4c9d0726a6)**  |
|  [Voya GNMA Income Fund](#classnamea4a9134f-c618-4678-a0dd-635352132cfa)<br> **[Class R6 - VGMBX](#classnamea4a9134f-c618-4678-a0dd-635352132cfa)**  |
|  [Voya GNMA Income Fund](#classnamed57feec8-5799-4de8-b61c-f62c814d0383)<br> **[Class W - IGMWX](#classnamed57feec8-5799-4de8-b61c-f62c814d0383)**  |
|  [Voya Government Money Market Fund](#classnamef9c031b0-678c-459c-8405-91de3d9ca4d8)<br> **[Class A - VYAXX](#classnamef9c031b0-678c-459c-8405-91de3d9ca4d8)**  |
|  [Voya Government Money Market Fund](#classnamedcfd70f8-6143-4cb0-a6cb-6d6f2d3d820e)<br> **[Class C - VYBXX](#classnamedcfd70f8-6143-4cb0-a6cb-6d6f2d3d820e)**  |
|  [Voya Government Money Market Fund](#classname25620d3a-982a-497d-8d68-3a9ae29e768b)<br> **[Class I - VYCXX](#classname25620d3a-982a-497d-8d68-3a9ae29e768b)**  |
|  [Voya Government Money Market Fund](#classnamee625f1a2-482b-4e7c-8ab6-7e0cda105ba2)<br> **[Class R6 - VYHXX](#classnamee625f1a2-482b-4e7c-8ab6-7e0cda105ba2)**  |
|  [Voya Government Money Market Fund](#classname1895ea8e-62a0-40f4-a7ce-7c1b28cea851)<br> **[Class W - VYGXX](#classname1895ea8e-62a0-40f4-a7ce-7c1b28cea851)**  |
|  [Voya High Yield Bond Fund](#classname689b714e-d18c-454a-8b8a-082326cdc35f)<br> **[Class A - IHYAX](#classname689b714e-d18c-454a-8b8a-082326cdc35f)**  |
|  [Voya High Yield Bond Fund](#classnamecc1381a7-5022-44b7-8c8c-69e52bd4ecd1)<br> **[Class C - IMYCX](#classnamecc1381a7-5022-44b7-8c8c-69e52bd4ecd1)**  |
|  [Voya High Yield Bond Fund](#classnamef41ce0c5-ea1a-4ef2-b108-5d6660d8379c)<br> **[Class I - IHYIX](#classnamef41ce0c5-ea1a-4ef2-b108-5d6660d8379c)**  |
|  [Voya High Yield Bond Fund](#classname94dda137-cc33-4dd4-a0b0-e9a6aab6326e)<br> **[Class R - IRSTX](#classname94dda137-cc33-4dd4-a0b0-e9a6aab6326e)**  |
|  [Voya High Yield Bond Fund](#classnamea38150a8-b43c-46ca-9f4f-17ebfbcbf969)<br> **[Class R6 - VHYRX](#classnamea38150a8-b43c-46ca-9f4f-17ebfbcbf969)**  |
|  [Voya High Yield Bond Fund](#classname1e359a70-a848-484f-94e1-2630c753d1bb)<br> **[Class W - IHYWX](#classname1e359a70-a848-484f-94e1-2630c753d1bb)**  |
|  [Voya Intermediate Bond Fund](#classnamece712a87-ff0b-4a1b-906f-43210fc75dd1)<br> **[Class A - IIBAX](#classnamece712a87-ff0b-4a1b-906f-43210fc75dd1)**  |
|  [Voya Intermediate Bond Fund](#classname9dced188-97fb-4933-8919-c9606029eb01)<br> **[Class C - IICCX](#classname9dced188-97fb-4933-8919-c9606029eb01)**  |
|  [Voya Intermediate Bond Fund](#classname6c97eb8c-5e1e-4631-9aae-bedd8bf678ec)<br> **[Class I - IICIX](#classname6c97eb8c-5e1e-4631-9aae-bedd8bf678ec)**  |
|  [Voya Intermediate Bond Fund](#classnameeb07c368-5485-451d-9290-737a7be93bd5)<br> **[Class R - IIBOX](#classnameeb07c368-5485-451d-9290-737a7be93bd5)**  |
|  [Voya Intermediate Bond Fund](#classnamea8076910-a82f-48f9-a800-5cf51feed1fe)<br> **[Class R6 - IIBZX](#classnamea8076910-a82f-48f9-a800-5cf51feed1fe)**  |
|  [Voya Intermediate Bond Fund](#classname95324321-7854-4112-899c-edc7ce915ce9)<br> **[Class W - IIBWX](#classname95324321-7854-4112-899c-edc7ce915ce9)**  |
|  [Voya Short Duration Bond Fund](#classnamec4b1b0bb-aab0-4ded-8587-62cafeb899bc)<br> **[Class A - IASBX](#classnamec4b1b0bb-aab0-4ded-8587-62cafeb899bc)**  |
|  [Voya Short Duration Bond Fund](#classname8a63f323-1ee6-40db-a0dd-f81409521803)<br> **[Class C - ICSBX](#classname8a63f323-1ee6-40db-a0dd-f81409521803)**  |
|  [Voya Short Duration Bond Fund](#classnamef94fc39f-8d9c-4b40-be98-6ee8933f1f58)<br> **[Class I - IISBX](#classnamef94fc39f-8d9c-4b40-be98-6ee8933f1f58)**  |
|  [Voya Short Duration Bond Fund](#classnamefaab8499-8e48-4bb1-8c5a-ebe901ed0bed)<br> **[Class R - VSTRX](#classnamefaab8499-8e48-4bb1-8c5a-ebe901ed0bed)**  |
|  [Voya Short Duration Bond Fund](#classname2213dedf-97db-4c7e-9e05-e70854335787)<br> **[Class R6 - IGZAX](#classname2213dedf-97db-4c7e-9e05-e70854335787)**  |
|  [Voya Short Duration Bond Fund](#classnamedf6e067b-9db9-4eff-a0b4-8d7d6067ce85)<br> **[Class W - IWSBX](#classnamedf6e067b-9db9-4eff-a0b4-8d7d6067ce85)**  |
|  [Voya Short Duration High Income Fund](#classname05df1bd2-ab29-4998-82bb-687da6fd5a26)<br> **[Class A - VVJBX](#classname05df1bd2-ab29-4998-82bb-687da6fd5a26)**  |
|  [Voya Short Duration High Income Fund](#classname4323f04d-8124-4fe7-81a6-4eb513dc0229)<br> **[Class C - VVJGX](#classname4323f04d-8124-4fe7-81a6-4eb513dc0229)**  |
|  [Voya Short Duration High Income Fund](#classnamefa6d2baf-bd95-4777-9924-ccdbb0f62108)<br> **[Class I - VVJCX](#classnamefa6d2baf-bd95-4777-9924-ccdbb0f62108)**  |
|  [Voya Short Duration High Income Fund](#classname234b3a8d-2dde-4bf2-8cf9-56754b6cd410)<br> **[Class R6 - VVJDX](#classname234b3a8d-2dde-4bf2-8cf9-56754b6cd410)**  |
|  [Voya Short Duration High Income Fund](#classnameccc33e71-47c4-4303-b5e3-574ce63f6de6)<br> **[Class W - VVJWX](#classnameccc33e71-47c4-4303-b5e3-574ce63f6de6)**  |
|  [Voya Strategic Income Opportunities Fund](#classname56daf8d4-b19f-4253-9036-0d7bff125e57)<br> **[Class A - ISIAX](#classname56daf8d4-b19f-4253-9036-0d7bff125e57)**  |
|  [Voya Strategic Income Opportunities Fund](#classnamee5079af6-02ae-440b-a6ad-1ef97c2482cc)<br> **[Class C - ISICX](#classnamee5079af6-02ae-440b-a6ad-1ef97c2482cc)**  |
|  [Voya Strategic Income Opportunities Fund](#classname761456d3-90bc-4491-8da2-221a083c55b4)<br> **[Class I - IISIX](#classname761456d3-90bc-4491-8da2-221a083c55b4)**  |
|  [Voya Strategic Income Opportunities Fund](#classnamef9970e6a-7854-4ae8-92fc-2ee2b7cb8e61)<br> **[Class R - ISIRX](#classnamef9970e6a-7854-4ae8-92fc-2ee2b7cb8e61)**  |
|  [Voya Strategic Income Opportunities Fund](#classname36f9ddeb-2fe1-42c1-8bca-21d216a72374)<br> **[Class R6 - VSIRX](#classname36f9ddeb-2fe1-42c1-8bca-21d216a72374)**  |
|  [Voya Strategic Income Opportunities Fund](#classname59f8e9cc-9bc4-4fbc-9153-f89b80910ad6)<br> **[Class W - ISIWX](#classname59f8e9cc-9bc4-4fbc-9153-f89b80910ad6)**  |
|  [Voya VACS Series HYB Fund](#classname53c453d8-6950-4da2-908e-c75151c63b1c)<br> **[Portfolio - VVITX](#classname53c453d8-6950-4da2-908e-c75151c63b1c)**  |

---

# Class A: LEXNX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya GNMA Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $43 | 0.84% |

---

## Fund Statistics
* Total Net Assets$1,110,275,052

* # of Portfolio Holdings806

* Portfolio Turnover Rate225%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Ginnie Mae, 5.000%, 11/20/55 | 10.0% |
| Ginnie Mae, 5.500%, 10/20/55 | 8.6% |
| Ginnie Mae, 6.000%, 10/20/55 | 6.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 4.500%, 10/20/55 | 2.6% |
| Ginnie Mae - Class FE, 5.639%, 01/20/55 | 2.3% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.2% |
| Ginnie Mae - Class LF, 5.639%, 06/20/55 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg017.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (27.7)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 58.3% |
| U.S. Government Agency Obligations | 65.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: LEXNX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya GNMA Income Fund
92913L692-SAR

# Class C: LEGNX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya GNMA Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $81 | 1.59% |

---

## Fund Statistics
* Total Net Assets$1,110,275,052

* # of Portfolio Holdings806

* Portfolio Turnover Rate225%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Ginnie Mae, 5.000%, 11/20/55 | 10.0% |
| Ginnie Mae, 5.500%, 10/20/55 | 8.6% |
| Ginnie Mae, 6.000%, 10/20/55 | 6.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 4.500%, 10/20/55 | 2.6% |
| Ginnie Mae - Class FE, 5.639%, 01/20/55 | 2.3% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.2% |
| Ginnie Mae - Class LF, 5.639%, 06/20/55 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (27.7)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 58.3% |
| U.S. Government Agency Obligations | 65.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: LEGNX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya GNMA Income Fund
92913L726-SAR

# Class I: LEINX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya GNMA Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $27 | 0.54% |

---

## Fund Statistics
* Total Net Assets$1,110,275,052

* # of Portfolio Holdings806

* Portfolio Turnover Rate225%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Ginnie Mae, 5.000%, 11/20/55 | 10.0% |
| Ginnie Mae, 5.500%, 10/20/55 | 8.6% |
| Ginnie Mae, 6.000%, 10/20/55 | 6.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 4.500%, 10/20/55 | 2.6% |
| Ginnie Mae - Class FE, 5.639%, 01/20/55 | 2.3% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.2% |
| Ginnie Mae - Class LF, 5.639%, 06/20/55 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (27.7)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 58.3% |
| U.S. Government Agency Obligations | 65.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: LEINX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya GNMA Income Fund
92913L734-SAR

# Class R6: VGMBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya GNMA Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $25 | 0.50% |

---

## Fund Statistics
* Total Net Assets$1,110,275,052

* # of Portfolio Holdings806

* Portfolio Turnover Rate225%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Ginnie Mae, 5.000%, 11/20/55 | 10.0% |
| Ginnie Mae, 5.500%, 10/20/55 | 8.6% |
| Ginnie Mae, 6.000%, 10/20/55 | 6.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 4.500%, 10/20/55 | 2.6% |
| Ginnie Mae - Class FE, 5.639%, 01/20/55 | 2.3% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.2% |
| Ginnie Mae - Class LF, 5.639%, 06/20/55 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (27.7)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 58.3% |
| U.S. Government Agency Obligations | 65.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: VGMBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya GNMA Income Fund
92913L577-SAR

# Class W: IGMWX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya GNMA Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $30 | 0.59% |

---

## Fund Statistics
* Total Net Assets$1,110,275,052

* # of Portfolio Holdings806

* Portfolio Turnover Rate225%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Ginnie Mae, 5.000%, 11/20/55 | 10.0% |
| Ginnie Mae, 5.500%, 10/20/55 | 8.6% |
| Ginnie Mae, 6.000%, 10/20/55 | 6.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 4.500%, 10/20/55 | 2.6% |
| Ginnie Mae - Class FE, 5.639%, 01/20/55 | 2.3% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.2% |
| Ginnie Mae - Class LF, 5.639%, 06/20/55 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg014.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (27.7)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 58.3% |
| U.S. Government Agency Obligations | 65.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: IGMWX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya GNMA Income Fund
92913L767-SAR

# Class A: VYAXX
![Image](tm2530932d1_tsrimg015.jpg)

# Voya Government Money Market Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $18 | 0.35% |

---

## Fund Statistics
* Total Net Assets$430,541,404

* # of Portfolio Holdings23

## What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg032.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (21.8)% |
| U.S. Government Agency Debt | 25.9% |
| U.S. Treasury Repurchase Agreements | 41.1% |
| U.S. Treasury Debt | 54.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: VYAXX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Government Money Market Fund
92913L379-SAR

# Class C: VYBXX
![Image](tm2530932d1_tsrimg015.jpg)

# Voya Government Money Market Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $68 | 1.35% |

---

## Fund Statistics
* Total Net Assets$430,541,404

* # of Portfolio Holdings23

## What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg034.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (21.8)% |
| U.S. Government Agency Debt | 25.9% |
| U.S. Treasury Repurchase Agreements | 41.1% |
| U.S. Treasury Debt | 54.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: VYBXX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Government Money Market Fund
92913L361-SAR

# Class I: VYCXX
![Image](tm2530932d1_tsrimg015.jpg)

# Voya Government Money Market Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $18 | 0.35% |

---

## Fund Statistics
* Total Net Assets$430,541,404

* # of Portfolio Holdings23

## What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg021.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (21.8)% |
| U.S. Government Agency Debt | 25.9% |
| U.S. Treasury Repurchase Agreements | 41.1% |
| U.S. Treasury Debt | 54.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: VYCXX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Government Money Market Fund
92913L353-SAR

# Class R6: VYHXX
![Image](tm2530932d1_tsrimg015.jpg)

# Voya Government Money Market Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $18 | 0.35% |

---

## Fund Statistics
* Total Net Assets$430,541,404

* # of Portfolio Holdings23

## What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg033.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (21.8)% |
| U.S. Government Agency Debt | 25.9% |
| U.S. Treasury Repurchase Agreements | 41.1% |
| U.S. Treasury Debt | 54.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: VYHXX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Government Money Market Fund
92913L213-SAR

# Class W: VYGXX
![Image](tm2530932d1_tsrimg015.jpg)

# Voya Government Money Market Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $18 | 0.35% |

---

## Fund Statistics
* Total Net Assets$430,541,404

* # of Portfolio Holdings23

## What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg007.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (21.8)% |
| U.S. Government Agency Debt | 25.9% |
| U.S. Treasury Repurchase Agreements | 41.1% |
| U.S. Treasury Debt | 54.8% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: VYGXX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Government Money Market Fund
92913L320-SAR

# Class A: IHYAX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $52 | 1.01% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg028.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: IHYAX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L627-SAR

# Class C: IMYCX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $90 | 1.76% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg043.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: IMYCX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L643-SAR

# Class I: IHYIX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $36 | 0.69% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg023.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: IHYIX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L783-SAR

# Class R: IRSTX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R | $65 | 1.26% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg031.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R: IRSTX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L544-SAR

# Class R6: VHYRX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $32 | 0.62% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg020.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: VHYRX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L528-SAR

# Class W: IHYWX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya High Yield Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $39 | 0.76% |

---

## Fund Statistics
* Total Net Assets$257,219,272

* # of Portfolio Holdings92

* Portfolio Turnover Rate111%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| OneMain Finance Corp., 7.125%, 09/15/32 | 2.4% |
| Iron Mountain, Inc., 6.250%, 01/15/33 | 2.1% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.6% |
| Navient Corp., 7.875%, 06/15/32 | 1.6% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.6% |
| Caesars Entertainment, Inc., 6.000%, 10/15/32 | 1.6% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/32 | 1.6% |
| Frontier Communications Holdings LLC, 8.750%, 05/15/30 | 1.6% |
| Sirius XM Radio, Inc., 5.500%, 07/01/29 | 1.6% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg039.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 4.9% |
| Corporate Bonds/Notes | 95.1% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: IHYWX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya High Yield Bond Fund
92913L866-SAR

# Class A: IIBAX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $33 | 0.64% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg042.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: IIBAX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L650-SAR

# Class C: IICCX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $71 | 1.39% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg026.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: IICCX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L676-SAR

# Class I: IICIX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $18 | 0.35% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg004.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: IICIX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L684-SAR

# Class R: IIBOX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R | $45 | 0.89% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg037.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R: IIBOX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L742-SAR

# Class R6: IIBZX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $15 | 0.30% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg036.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: IIBZX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L569-SAR

# Class W: IIBWX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Intermediate Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $20 | 0.39% |

---

## Fund Statistics
* Total Net Assets$9,937,702,591

* # of Portfolio Holdings2,463

* Portfolio Turnover Rate76%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Bonds, 4.875%, 08/15/45 | 2.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 1.7% |
| United States Treasury Notes, 3.500%, 09/30/27 | 1.3% |
| United States Treasury Notes, 3.375%, 09/15/28 | 1.3% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.2% |
| United States Treasury Notes, 3.625%, 09/30/30 | 1.1% |
| United States Treasury Notes, 4.250%, 08/15/35 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| Ginnie Mae, 5.500%, 10/20/55 | 0.8% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg002.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 7.4% |
| Sovereign Bonds | 2.1% |
| Commercial Mortgage-Backed Securities | 10.1% |
| U.S. Treasury Obligations | 12.0% |
| Asset-Backed Securities | 12.4% |
| Collateralized Mortgage Obligations | 14.5% |
| U.S. Government Agency Obligations | 15.1% |
| Corporate Bonds/Notes | 26.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: IIBWX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Intermediate Bond Fund
92913L775-SAR

# Class A: IASBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $34 | 0.66% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg018.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: IASBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L502-SAR

# Class C: ICSBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $72 | 1.41% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg016.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: ICSBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L403-SAR

# Class I: IISBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $17 | 0.34% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg044.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: IISBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L304-SAR

# Class R: VSTRX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R | $46 | 0.91% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg027.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R: VSTRX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L205-SAR

# Class R6: IGZAX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $15 | 0.30% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg040.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: IGZAX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L551-SAR

# Class W: IWSBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration Bond Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $21 | 0.41% |

---

## Fund Statistics
* Total Net Assets$382,830,172

* # of Portfolio Holdings649

* Portfolio Turnover Rate101%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| United States Treasury Notes, 3.500%, 09/30/27 | 2.0% |
| Fannie Mae REMIC Trust - Class FH, 5.606%, 01/25/55 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.037%, 04/15/36 | 1.1% |
| Freddie Mac REMIC Trust - Class FA, 5.605%, 10/25/55 | 1.0% |
| United States Treasury Notes, 3.625%, 09/30/30 | 0.9% |
| Freddie Mac Strips - Class F43, 5.156%, 10/25/53 | 0.9% |
| Fannie Mae REMIC Trust - Class FD, 5.556%, 12/25/54 | 0.9% |
| Freddie Mac Strips - Class F44, 5.356%, 10/25/53 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac REMIC Trust - Class PF, 4.887%, 02/15/36 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg019.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.5% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 4.1% |
| Collateralized Mortgage Obligations | 11.7% |
| Commercial Mortgage-Backed Securities | 13.4% |
| Asset-Backed Securities | 16.7% |
| Corporate Bonds/Notes | 47.5% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: IWSBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration Bond Fund
92913L106-SAR

# Class A: VVJBX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration High Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $42 | 0.84% |

---

## Fund Statistics
* Total Net Assets$252,206,016

* # of Portfolio Holdings116

* Portfolio Turnover Rate20%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| Asurion LLC, 9.528%, 01/20/29 | 2.3% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.2% |
| Excelerate Energy L.P., 8.000%, 05/15/30 | 2.1% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.1% |
| Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/28 | 2.1% |
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.0% |
| Quikrete Holdings, Inc., 6.413%, 02/10/32 | 2.0% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 1.9% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 1.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg001.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.0% |
| Common Stock | 0.0% |
| Bank Loans | 6.6% |
| Corporate Bonds/Notes | 87.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: VVJBX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration High Income Fund
92913L254-SAR

# Class C: VVJGX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration High Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $80 | 1.59% |

---

## Fund Statistics
* Total Net Assets$252,206,016

* # of Portfolio Holdings116

* Portfolio Turnover Rate20%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| Asurion LLC, 9.528%, 01/20/29 | 2.3% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.2% |
| Excelerate Energy L.P., 8.000%, 05/15/30 | 2.1% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.1% |
| Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/28 | 2.1% |
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.0% |
| Quikrete Holdings, Inc., 6.413%, 02/10/32 | 2.0% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 1.9% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 1.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.0% |
| Common Stock | 0.0% |
| Bank Loans | 6.6% |
| Corporate Bonds/Notes | 87.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: VVJGX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration High Income Fund
92913L221-SAR

# Class I: VVJCX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration High Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $31 | 0.61% |

---

## Fund Statistics
* Total Net Assets$252,206,016

* # of Portfolio Holdings116

* Portfolio Turnover Rate20%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| Asurion LLC, 9.528%, 01/20/29 | 2.3% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.2% |
| Excelerate Energy L.P., 8.000%, 05/15/30 | 2.1% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.1% |
| Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/28 | 2.1% |
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.0% |
| Quikrete Holdings, Inc., 6.413%, 02/10/32 | 2.0% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 1.9% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 1.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.0% |
| Common Stock | 0.0% |
| Bank Loans | 6.6% |
| Corporate Bonds/Notes | 87.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: VVJCX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration High Income Fund
92913L247-SAR

# Class R6: VVJDX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration High Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $29 | 0.57% |

---

## Fund Statistics
* Total Net Assets$252,206,016

* # of Portfolio Holdings116

* Portfolio Turnover Rate20%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| Asurion LLC, 9.528%, 01/20/29 | 2.3% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.2% |
| Excelerate Energy L.P., 8.000%, 05/15/30 | 2.1% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.1% |
| Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/28 | 2.1% |
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.0% |
| Quikrete Holdings, Inc., 6.413%, 02/10/32 | 2.0% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 1.9% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 1.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg013.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.0% |
| Common Stock | 0.0% |
| Bank Loans | 6.6% |
| Corporate Bonds/Notes | 87.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: VVJDX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration High Income Fund
92913L239-SAR

# Class W: VVJWX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Short Duration High Income Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of August 8, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W<sup>Footnote Reference\*</sup> | $9 | 0.59% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Expenses are for the period from August 8, 2025, commencement of operations, to September 30, 2025. Expenses for the full reporting period would be higher. |

---

## Fund Statistics
* Total Net Assets$252,206,016

* # of Portfolio Holdings116

* Portfolio Turnover Rate20%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| Asurion LLC, 9.528%, 01/20/29 | 2.3% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.2% |
| Excelerate Energy L.P., 8.000%, 05/15/30 | 2.1% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.1% |
| Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/28 | 2.1% |
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.0% |
| Quikrete Holdings, Inc., 6.413%, 02/10/32 | 2.0% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 1.9% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 1.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg009.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 6.0% |
| Common Stock | 0.0% |
| Bank Loans | 6.6% |
| Corporate Bonds/Notes | 87.4% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: VVJWX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Short Duration High Income Fund
92913L197-SAR

# Class A: ISIAX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class A | $43 | 0.85% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg022.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class A: ISIAX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L700-SAR

# Class C: ISICX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class C | $82 | 1.60% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg029.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class C: ISICX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L601-SAR

# Class I: IISIX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class I | $31 | 0.61% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg006.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class I: IISIX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L874-SAR

# Class R: ISIRX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R | $56 | 1.10% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R: ISIRX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L882-SAR

# Class R6: VSIRX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class R6 | $28 | 0.54% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class R6: VSIRX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L536-SAR

# Class W: ISIWX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya Strategic Income Opportunities Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| Class W | $31 | 0.60% |

---

## Fund Statistics
* Total Net Assets$2,141,883,479

* # of Portfolio Holdings1,659

* Portfolio Turnover Rate176%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Freddie Mac REMIC Trust - Class FD, 5.956%, 02/25/55 | 2.1% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.0% |
| Brazil Letras do Tesouro Nacional, 15.084%, 01/01/26 | 1.8% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| United States Treasury Notes, 3.500%, 09/30/27 | 0.6% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.6% |
| Fannie Mae REMIC Trust - Class IM, 4.500%, 07/25/51 | 0.6% |
| United States Treasury Notes, 3.875%, 09/30/32 | 0.5% |
| Ginnie Mae, 5.000%, 10/20/55 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg024.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 0.9% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 1.7% |
| Sovereign Bonds | 3.5% |
| Bank Loans | 6.7% |
| U.S. Government Agency Obligations | 7.0% |
| Asset-Backed Securities | 11.4% |
| Commercial Mortgage-Backed Securities | 18.6% |
| Corporate Bonds/Notes | 22.5% |
| Collateralized Mortgage Obligations | 27.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.

# Class W: ISIWX
![QR Code](tm2530932d1_tsrimg003.jpg)

# Voya Strategic Income Opportunities Fund
92913L809-SAR

# Portfolio: VVITX
![Image](tm2530932d1_tsrimg038.jpg)

# Voya VACS Series HYB Fund

#### Semi-Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; September 30, 2025
This semi-annual shareholder report contains important information about Voya VACS Series HYB Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/holdings/monthly. You can also request this information by contacting us at 1-800-992-0180.

## **What were the Fund's costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment (Annualized)** |
| VACS Series | $4 | 0.07% |

---

## Fund Statistics
* Total Net Assets$309,547,612

* # of Portfolio Holdings337

* Portfolio Turnover Rate36%

## What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.

### Top 10 Holdings

---

| | |
|:---|:---|
| Warnermedia Holdings, Inc., 4.279%, 03/15/32 | 1.0% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.9% |
| Medline Borrower L.P., 5.250%, 10/01/29 | 0.9% |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/31 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Quikrete Holdings, Inc., 6.375%, 03/01/32 | 0.7% |
| New Gold, Inc., 6.875%, 04/01/32 | 0.7% |
| Iron Mountain, Inc., 5.250%, 07/15/30 | 0.6% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/28 | 0.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm2530932d1_tsrimg010.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.3% |
| Corporate Bonds/Notes | 96.7% |

---

## Availability of Additional Information
For additional information about the Fund, including its holdings and Form N-CSR, please visit https://individuals.voya.com/product/mutual-fund/holdings/monthly or call us at 1-800-992-0180. For information on proxy voting, please visit https://individuals.voya.com or call us at 1-800-992-0180.

# Portfolio: VVITX
![QR Code](tm2530932d1_tsrimg008.jpg)

# Voya VACS Series HYB Fund
92913L262-SAR

(b)&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.

**Item 2. Code of Ethics.** 

Not required for semi-annual filing.

**Item 3. Audit Committee Financial Expert.** 

Not required for semi-annual filing.

**Item 4. Principal Accountant Fees and Services.** 

Not required for semi-annual filing.

**Item 5. Audit Committee of Listed Registrants.**

Not required for semi-annual filing.

**Item 6. Investments.** 

(a)&nbsp;&nbsp;&nbsp;&nbsp; Schedule is included as part of the report to shareholders filed under Item 7 of this Form.

(b)&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

The semi-annual financial statements, the Financial Highlights, and the Items 8-11 are attached herewith.

![](tm2530932d1_ncsr-img001.jpg)

Semi-Annual Financial Statements and Other Information

**September 30, 2025**

Classes A, C, I, R, R6 and W

**Fixed-Income Funds**

■ Voya GNMA Income
 Fund ■ Voya Short Duration Bond Fund

■ Voya High Yield Bond Fund ■ Voya Short Duration High Income Fund

■ Voya Intermediate Bond Fund ■ Voya Strategic Income Opportunities Fund

&nbsp;&nbsp;This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds' investment objectives, risks, charges, expenses and other information. This information should be read carefully.<br>

&nbsp;&nbsp;&nbsp;&nbsp;![](tm2530932d1_ncsr-img002.jpg)E-Delivery Sign-up – details inside

---

| | |
|:---|:---|
| **INVESTMENT MANAGEMENT**<br>**voyainvestments.com** | ![](tm2530932d1_ncsr-img003.jpg) |

---

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Statements of Assets and Liabilities](#b_003) | [1](#b_003) |
| [Statements of Operations](#b_002) | [7](#b_002) |
| [Statements of Changes in Net Assets](#b_001) | [11](#b_001) |
| [Financial Highlights](#c_001) | [14](#c_001) |
| [Notes to Financial Statements](#c_002) | [20](#c_002) |
| [Portfolios of Investments](#c_003) | [41](#c_003) |

---

---

| |
|:---|
| **Go Paperless with E-Delivery!** |
| Sign up now for on-line prospectuses, tailored shareholder reports, and proxy statements. |
| Just go to individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll. |
| You will be notified by e-mail when these communications become available on the internet. |

---

**PROXY VOTING INFORMATION**

A description of the policies and procedures that the Funds use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; and (2) on the U.S. Securities and Exchange Commission's ("SEC's") website at www.sec.gov. Information regarding how the Funds voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Funds' website at https://individuals.voya.com and on the SEC's website at www.sec.gov.

**QUARTERLY PORTFOLIO HOLDINGS**

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Funds' Forms NPORT-P are available on the SEC's website at www.sec.gov. Each Fund's complete schedule of portfolio holdings is available at: https://individuals.voya.com/product/mutual-fund/prospectuses-reports and without charge upon request from the Fund by calling Shareholder Services toll-free at (800) 992-0180.

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **ASSETS:** |  |  |  |
| Investments in securities at fair value+\* | $1417879100 | $244473547 | $9206853458 |
| Short-term investments at fair value† | 33091234 | 11146437 | 1676804382 |
| Cash | 5843 |  | 3125648 |
| Cash collateral for futures contracts | 3050810 |  | 54966973 |
| Cash pledged for centrally cleared swaps (Note 2) |  |  | 7000000 |
| Cash pledged as collateral for OTC derivatives (Note 2) |  |  | 16540000 |
| Cash pledged as collateral for delayed-delivery or when-issued securities (Note 2) | 779926 |  |  |
| Foreign currencies at value‡ |  |  | 38170715 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold |  |  | 41365374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold on a delayed-delivery or when-issued basis | 139183332 |  | 117122016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 4426567 | 1481468 | 40577909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends |  | 43113 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 4020216 | 3925220 | 67503476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 15113 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swaps |  |  | 3989106 |
| Unrealized appreciation on forward foreign currency contracts |  |  | 6990 |
| Unrealized appreciation on forward premium swaptions |  |  | 4977537 |
| Prepaid expenses | 50036 | 38816 | 116255 |
| Reimbursement due from Investment Adviser | 43384 |  |  |
| Other assets | 61129 | 26082 | 276160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 1602606690 | 261134683 | 11279395999 |
| **LIABILITIES:** |  |  |  |
| Income distribution payable | 3772954 | 1414767 | 38048886 |
| Payable for investment securities purchased |  | 1896988 | 390329727 |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | 482022277 |  | 286777098 |
| Payable for fund shares redeemed | 1490283 | 333106 | 25013204 |
| Payable upon receipt of securities loaned |  |  | 571686937 |
| Payable to broker | 33569 |  | 350000 |
| Sales commitments^^^ | 3988909 |  |  |
| Unrealized depreciation on forward foreign currency contracts |  |  | 14761653 |
| Unrealized depreciation on forward premium swaptions |  |  | 4177970 |
| Variation margin payable on futures contracts |  |  | 4182927 |
| Cash received as collateral for delayed-delivery or when-issued securities (Note 2) | 279343 |  | 244360 |
| Cash received as collateral for OTC derivatives (Note 2) |  |  | 2380000 |
| Payable for investment management fees | 408777 | 126767 | 2203460 |
| Payable for distribution and shareholder service fees | 67199 | 7701 | 82698 |
| Payable to trustees under the deferred compensation plan (Note 6) | 61129 | 26082 | 276160 |
| Payable for trustee fees | 2773 | 831 | 24101 |
| Other accrued expenses and liabilities | 204425 | 109169 | 689140 |
| Written options, at fair value^ | – | – | 465087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 492331638 | 3915411 | 1341693408 |
| **NET ASSETS** | $1110275052 | $257219272 | $9937702591 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **NET ASSETS WERE COMPRISED OF:** |  |  |  |
| Paid-in capital | $1304511044 | $300723682 | $11223984985 |
| Total distributable loss | (194235992) | (43504410) | (1286282394) |
| **NET ASSETS** | $1110275052 | $257219272 | $9937702591 |
| + Including securities loaned at value | $— | $— | $555755231 |
| \* Cost of investments in securities | $1496872375 | $242041510 | $9297028388 |
| † Cost of short-term investments | $33091228 | $11146437 | $1676893344 |
| ‡ Cost of foreign currencies | $— | $— | $38060566 |
| ^ Premiums received on written options | $— | $— | $1170018 |
| ^^^ Proceeds receivable from sales commitments | $4004590 | $— | $— |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **Class A** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $295899017 | $32138956 | $178255181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 39306924 | 4567173 | 20108706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $7.53 | $7.04 | $8.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum offering price per share (2.50%)<sup>(1)</sup> | $7.72 | $7.22 | $9.09 |
| **Class C** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $7491404 | $1157514 | $5573190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 1000139 | 164649 | 629603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $7.49 | $7.03 | $8.85 |
| **Class I** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $749537438 | $113211351 | $6565940528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 99380400 | 16136222 | 740680444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.54 | $7.02 | $8.86 |
| **Class R** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | n/a | $282745 | $101988592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | n/a | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | n/a | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | n/a | 40180 | 11489391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | n/a | $7.04 | $8.88 |
| **Class R6** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $12874334 | $73779337 | $2999774463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 1706565 | 10482450 | 338221314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.54 | $7.04 | $8.87 |
| **Class W** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $44472859 | $36649369 | $86170637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 5886812 | 5200565 | 9728552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.55 | $7.05 | $8.86 |

---

---

| |
|:---|
| <sup>(1)</sup> Maximum offering price is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the offering price is reduced. |
| <sup>†</sup> Redemption price per share may be reduced for any applicable contingent deferred sales charges. |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya Short**<br>**Duration**<br>**Bond**<br>**Fund** | **Voya Short**<br>**Duration**<br>**High Income**<br>**Fund** |<br>**Voya Strategic**<br>**Income**<br>**Opportunities Fund** |
| **ASSETS:** |  |  |  |
| Investments in securities at fair value+\* | $357843895 | $237143922 | $2123063369 |
| Short-term investments at fair value† | 34928135 | 27485338 | 37671835 |
| Cash | 71331 |  | 1209103 |
| Cash collateral for futures contracts | 1412875 |  | 3879449 |
| Cash pledged for centrally cleared swaps (Note 2) |  |  | 6946846 |
| Cash pledged as collateral for OTC derivatives (Note 2) |  |  | 5420000 |
| Foreign currencies at value‡ |  |  | 18371128 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 1242676 | 3040218 | 12890884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold on a delayed-delivery or when- issued basis |  |  | 197199575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 1883339 | 1820258 | 10573408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | 29274 | 37179 | 37752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 2545287 | 3719313 | 15887266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 105281 |  | 251436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swaps |  |  | 821478 |
| Unrealized appreciation on forward foreign currency contracts |  |  | 416688 |
| Unrealized appreciation on forward premium swaptions |  |  | 2172868 |
| Unrealized appreciation on OTC swap agreements |  |  | 6160725 |
| Prepaid expenses | 31911 | 52862 | 104673 |
| Reimbursement due from Investment Adviser | 189 | 663 |  |
| Other assets | 9893 | 53773 | 50192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 400104086 | 273353526 | 2443128675 |
| **LIABILITIES:** |  |  |  |
| Income distribution payable | 1719406 | 1547059 | 8551997 |
| Payable for investment securities purchased | 10083576 | 1832308 | 32279349 |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis |  |  | 129412080 |
| Payable for fund shares redeemed | 155008 | 490618 | 2725583 |
| Payable upon receipt of securities loaned | 5130962 | 16979090 | 24148665 |
| Sales commitments^^^ |  |  | 88094834 |
| Unrealized depreciation on forward foreign currency contracts |  |  | 6187765 |
| Unrealized depreciation on forward premium swaptions |  |  | 1853959 |
| Upfront payments received on OTC swap agreements |  |  | 9195 |
| Unrealized depreciation on OTC swap agreements |  |  | 96984 |
| Cash received as collateral for OTC derivatives (Note 2) |  |  | 5770000 |
| Payable for investment management fees | 91068 | 102230 | 876596 |
| Payable for distribution and shareholder service fees | 703 | 25824 | 47108 |
| Payable to trustees under the deferred compensation plan (Note 6) | 9893 | 53773 | 50192 |
| Payable for trustee fees | 1452 | 578 | 5254 |
| Other accrued expenses and liabilities | 68363 | 116030 | 316785 |
| Unfunded loan commitments (Note 10) |  |  | 263604 |
| Written options, at fair value^ | 13483 | – | 555246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 17273914 | 21147510 | 301245196 |
| **NET ASSETS** | $382830172 | $252206016 | $2141883479 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya Short**<br>**Duration**<br>**Bond**<br>**Fund** | **Voya Short**<br>**Duration**<br>**High Income**<br>**Fund** |<br>**Voya Strategic**<br>**Income**<br>**Opportunities Fund** |
| **NET ASSETS WERE COMPRISED OF:** |  |  |  |
| Paid-in capital | $407622191 | $267693965 | $2374213767 |
| Total distributable loss | (24792019) | (15487949) | (232330288) |
| **NET ASSETS** | $382830172 | $252206016 | $2141883479 |
| + Including securities loaned at value | $5003000 | $16497750 | $23462919 |
| \* Cost of investments in securities | $354587069 | $239280509 | $2135506193 |
| † Cost of short-term investments | $34930972 | $27485338 | $37672462 |
| ‡ Cost of foreign currencies | $— | $— | $18316122 |
| ^ Premiums received on written options | $20073 | $— | $1619044 |
| ^^^ Proceeds receivable from sales commitments | $— | $— | $88315520 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya Short**<br>**Duration**<br>**Bond**<br>**Fund** | **Voya Short**<br>**Duration**<br>**High Income**<br>**Fund** | <br>**Voya Strategic**<br>**Income**<br>**Opportunities Fund** |
| **Class A** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $2813209 | $89387743 | $75913273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 298940 | 9271539 | 8066869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $9.41 | $9.64 | $9.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum offering price per share (2.50%)<sup>(1)</sup> | $9.65 | $9.89 | $9.65 |
| **Class C** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $96024 | $9234679 | $30653898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 10197 | 946005 | 3305734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $9.42 | $9.76 | $9.27 |
| **Class I** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $52375380 | $148734405 | $1677287994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 5569063 | 15438026 | 178081099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.40 | $9.63 | $9.42 |
| **Class R** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $68652 | n/a | $15367663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | n/a | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | n/a | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 7269 | n/a | 1646017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.44 | n/a | $9.34 |
| **Class R6** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $320364974 | $9821 | $326345512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 34041876 | 1018 | 34752649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.41 | $9.64 | $9.39 |
| **Class W** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $7111933 | $4839368 | $16315139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares authorized | unlimited | unlimited | unlimited |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par value | $0.001 | $0.001 | $0.001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding | 753526 | 502293 | 1737814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.44 | $9.63 | $9.39 |

---

---

| |
|:---|
| <sup>(1)</sup> Maximum offering price is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the offering price is reduced. |
| <sup>†</sup> Redemption price per share may be reduced for any applicable contingent deferred sales charges. |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the six months ended September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $— | $216763 | $43752 |
| Interest, net of foreign taxes withheld\* | 23289936 | 10910395 | 239225149 |
| Securities lending income, net |  | 32359 | 806949 |
| Other | 3198 | 999 | 27542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 23293134 | 11160516 | 240103392 |
| **EXPENSES:** |  |  |  |
| Investment management fees | 2491818 | 1016999 | 13051928 |
| Distribution and shareholder service fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 355575 | 40688 | 223725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 38701 | 6269 | 27639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R |  | 846 | 253928 |
| Transfer agent fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 184897 | 22948 | 85240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 5031 | 884 | 2633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 398649 | 41007 | 1745894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R |  | 239 | 48374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 18 | 353 | 14468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 28213 | 25565 | 39998 |
| Shareholder reporting expense | 36850 | 7382 | 68760 |
| Registration fees | 40617 | 49436 | 147356 |
| Professional fees | 40256 | 16040 | 270832 |
| Custody and accounting expense | 108470 | 7692 | 440580 |
| Trustee fees | 13866 | 4165 | 120506 |
| Miscellaneous expense | 45305 | 18144 | 305425 |
| Interest expense | 96 | 771 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 3788362 | 1259428 | 16847431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (284337) | (83363) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 3504025 | 1176065 | 16847431 |
| Net investment income | 19789109 | 9984451 | 223255961 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (3788788) | 6435815 | 4199688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (5145558) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 386199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (3829973) |  | (6432886) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  | 310624 | 3591678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options |  |  | 7756062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments | (25682) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) | (7644443) | 6746439 | 4355183 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 19222750 | 1862541 | 136794763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (13680515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 61318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 2535899 |  | (1160035) |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the six months ended September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  |  | (1548145) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options |  |  | 1832357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments | 62522 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 21821171 | 1862541 | 122299743 |
| Net realized and unrealized gain | 14176728 | 8608980 | 126654926 |
| **Increase in net assets resulting from operations** | $33965837 | $18593431 | $349910887 |
| \* Foreign taxes withheld | $11347 | $— | $184 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the six months ended September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya Short**<br>**Duration**<br>**Bond**<br>**Fund** | **Voya Short**<br>**Duration**<br>**High Income**<br>**Fund** |<br>**Voya Strategic**<br>**Income**<br>**Opportunities Fund** |
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $90135 | $233115 | $246060 |
| Interest | 14730720 | 8250601 | 60784002 |
| Securities lending income, net | 10186 | 80657 | 53697 |
| Other | 1745 | 662 | 6038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 14832786 | 8565035 | 61089797 |
| **EXPENSES:** |  |  |  |
| Investment management fees | 727871 | 547346 | 5268310 |
| Distribution and shareholder service fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 4093 | 45141 | 89204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 466 | 31589 | 153377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R | 132 |  | 38042 |
| Transfer agent fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 1802 | 3250 | 20518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 51 | 569 | 8820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 9464 | 37445 | 579089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R | 29 |  | 4375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 526 | 30 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 3897 | 121 | 4734 |
| Shareholder reporting expense | 1735 | 1963 | 38209 |
| Registration fees | 48620 | 61491 | 70899 |
| Professional fees | 22240 | 10833 | 64709 |
| Custody and accounting expense | 44209 | 13095 | 168142 |
| Trustee fees | 7259 | 2888 | 26269 |
| Miscellaneous expense | 29000 | 12613 | 86494 |
| Interest expense |  |  | 8834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 901394 | 768374 | 6630345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (460) | (6648) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 900934 | 761726 | 6630345 |
| Net investment income | 13931852 | 7803309 | 54459452 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 3345293 | (12670742) | 4983390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (3728951) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 84066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 820796 |  | 266345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | (37803) |  | (902485) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | 347913 |  | 4490950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments |  |  | 158410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) | 4476199 | (12670742) | 5351725 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 16769 | 6727732 | 23053757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (5602170) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 43148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (686000) |  | (1885098) |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the six months ended September 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya Short**<br>**Duration**<br>**Bond**<br>**Fund** | **Voya Short**<br>**Duration**<br>**High Income**<br>**Fund** |<br>**Voya Strategic**<br>**Income**<br>**Opportunities Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  |  | 5245520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | 8478 |  | 1450097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments |  |  | 475814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (660753) | 6727732 | 22781068 |
| Net realized and unrealized gain (loss) | 3815446 | (5943010) | 28132793 |
| **Increase in net assets resulting from operations** | $17747298 | $1860299 | $82592245 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** |
|  | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $19789109 | $41588682 | $9984451 | $26769676 |
| Net realized gain (loss) | (7644443) | (104702) | 6746439 | (4248320) |
| Net change in unrealized appreciation (depreciation) | 21821171 | 22026934 | 1862541 | 3995045 |
| Increase in net assets resulting from operations | 33965837 | 63510914 | 18593431 | 26516401 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (5221676) | (10029263) | (1028322) | (2138491) |
| &nbsp;&nbsp;Class C | (112629) | (223589) | (34941) | (229759) |
| &nbsp;&nbsp;Class I | (15059091) | (29261043) | (4063883) | (9402040) |
| &nbsp;&nbsp;Class R |  |  | (10267) | (19785) |
| &nbsp;&nbsp;Class R6 | (348800) | (898365) | (4771521) | (12077257) |
| &nbsp;&nbsp;Class W | (850867) | (1710697) | (1190387) | (2689695) |
| Total distributions | (21593063) | (42122957) | (11099321) | (26557027) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 194970039 | 357259822 | 24464232 | 123520158 |
| Reinvestment of distributions | 18520789 | 35954488 | 10563731 | 24863213 |
|  | 213490828 | 393214310 | 35027963 | 148383371 |
| Cost of shares redeemed | (225340465) | (571644335) | (142666144) | (266598395) |
| Net decrease in net assets resulting from capital share transactions | (11849637) | (178430025) | (107638181) | (118215024) |
| Net increase (decrease) in net assets | 523137 | (157042068) | (100144071) | (118255650) |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 1109751915 | 1266793983 | 357363343 | 475618993 |
| End of year or period | $1110275052 | $1109751915 | $257219272 | $357363343 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Short Duration <br> Bond Fund** | **Voya Short Duration <br> Bond Fund** |
|  | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $223255961 | $412869895 | $13931852 | $27775642 |
| Net realized gain (loss) | 4355183 | (122706847) | 4476199 | (1496346) |
| Net change in unrealized appreciation (depreciation) | 122299743 | 188399061 | (660753) | 6305917 |
| Increase in net assets resulting from operations | 349910887 | 478562109 | 17747298 | 32585213 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (3801616) | (9379446) | (74290) | (157956) |
| &nbsp;&nbsp;Class C | (96583) | (230359) | (1764) | (3125) |
| &nbsp;&nbsp;Class I | (147758707) | (280755291) | (1136772) | (1736225) |
| &nbsp;&nbsp;Class R | (2030568) | (4302815) | (1128) | (1522) |
| &nbsp;&nbsp;Class R6 | (67607237) | (124105599) | (12765169) | (25431988) |
| &nbsp;&nbsp;Class W | (1889456) | (4291956) | (169449) | (410891) |
| Total distributions | (223184167) | (423065466) | (14148572) | (27741707) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 1224275848 | 2736763127 | 93883225 | 278286657 |
| Reinvestment of distributions | 194082518 | 367698110 | 14142506 | 27542616 |
|  | 1418358366 | 3104461237 | 108025731 | 305829273 |
| Cost of shares redeemed | (1113794033) | (2154398990) | (322926828) | (268802186) |
| Net increase (decrease) in net assets resulting from capital share transactions | 304564333 | 950062247 | (214901097) | 37027087 |
| Net increase (decrease) in net assets | 431291053 | 1005558890 | (211302371) | 41870593 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 9506411538 | 8500852648 | 594132543 | 552261950 |
| End of year or period | $9937702591 | $9506411538 | $382830172 | $594132543 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya Short Duration** | **Voya Short Duration** | **Voya Strategic** | **Voya Strategic** |
|  | **High Income Fund** | **High Income Fund** | **Income Opportunities Fund** | **Income Opportunities Fund** |
|  | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $7803309 | $15060839 | $54459452 | $110790732 |
| Net realized gain (loss) | (12670742) | 1593237 | 5351725 | (33592949) |
| Net change in unrealized appreciation (depreciation) | 6727732 | (7311506) | 22781068 | 58364042 |
| Increase in net assets resulting from operations | 1860299 | 9342570 | 82592245 | 135561825 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (1337032) | (1422657) | (1662034) | (3456860) |
| &nbsp;&nbsp;Class C | (211175) | (238344) | (599310) | (1420366) |
| &nbsp;&nbsp;Class I | (6892887) | (13780624) | (40540082) | (87091265) |
| &nbsp;&nbsp;Class R |  |  | (335400) | (784703) |
| &nbsp;&nbsp;Class R6 | (230505) | (1460398) | (7930017) | (16127689) |
| &nbsp;&nbsp;Class W | (52044) |  | (404209) | (918821) |
| Total distributions | (8723643) | (16902023) | (51471052) | (109799704) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 35812181 | 234554161 | 222471368 | 581918585 |
| Proceeds from shares issued in merger (Note 14) | 131542751 |  |  |  |
| Reinvestment of distributions | 8675450 | 16577886 | 47614996 | 101586222 |
|  | 176030382 | 251132047 | 270086364 | 683504807 |
| Cost of shares redeemed | (184975643) | (110861371) | (262751457) | (455076650) |
| Net increase (decrease) in net assets resulting from capital share transactions | (8945261) | 140270676 | 7334907 | 228428157 |
| Net increase (decrease) in net assets | (15808605) | 132711223 | 38456100 | 254190278 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 268014621 | 135303398 | 2103427379 | 1849237101 |
| End of year or period | $252206016 | $268014621 | $2141883479 | $2103427379 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS

------

Selected data for a share of beneficial interest outstanding throughout each year or period.

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br> from investment <br> operations** | **Income (loss)<br> from investment <br> operations** | **Income (loss)<br> from investment <br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental <br> Data** | **Supplemental <br> Data** |
|  | <br>Net asset <br> value, <br> beginning <br> of year or <br> period | Net <br> investment <br> income <br> (loss) | | Net <br> realized <br> and <br> unrealized<br> gain (loss) | <br>Total from <br> investment <br> operations | From net<br> investment <br> income | From <br> net <br> realized <br> gains | From <br> return of <br> capital | <br>Total <br> distributions | <br>Payment <br> by affiliate | <br>Net<br> asset <br> value, <br> end of<br> year or <br> period | <br>**Total <br> Return<sup>(1)</sup>** | Expenses <br> before <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses <br> net of <br> fee waivers<br> and/or<br> recoupments <br> if any <br> <sup>(2)(3)</sup> | Expenses <br> net of all <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net <br> investment <br> income <br> (loss)<br> <sup>(2)(3)</sup> | Net<br> assets, <br> end of <br> year or <br> period | Portfolio<br> turnover<br> rate |
| Year or <br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) |
| **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** | **Voya GNMA Income Fund** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 09-30-25<sup>+</sup> | 7.44 | 0.12 | <sup>•</sup> | 0.11 | 0.23 | 0.14 |  |  | 0.14 |  | 7.53 | **3.08** | 0.88 | 0.84 | 0.84 | 3.34 | 295899 | 225 |
| 03-31-25 | 7.30 | 0.24 | <sup>•</sup> | 0.14 | 0.38 | 0.24 |  |  | 0.24 |  | 7.44 | **5.34** | 0.88 | 0.84 | 0.84 | 3.27 | 286904 | 457 |
| 03-31-24 | 7.47 | 0.23 | <sup>•</sup> | (0.15) | 0.08 | 0.25 |  |  | 0.25 |  | 7.30 | **1.20** | 0.86 | 0.84 | 0.84 | 3.23 | 317375 | 495 |
| 03-31-23 | 8.03 | 0.16 | <sup>•</sup> | (0.53) | (0.37) | 0.19 |  |  | 0.19 |  | 7.47 | **(4.53)** | 0.83 | 0.84 | 0.84 | 2.17 | 389829 | 353 |
| 03-31-22 | 8.50 | 0.04 | <sup>•</sup> | (0.40) | (0.36) | 0.10 |  | 0.01 | 0.11 |  | 8.03 | **(4.36)** | 0.84 | 0.84 | 0.84 | 0.45 | 464615 | 539 |
| 03-31-21 | 8.58 | 0.07 | <sup>•</sup> | 0.02 | 0.09 | 0.14 |  | 0.03 | 0.17 |  | 8.50 | **1.08** | 0.85 | 0.84 | 0.84 | 0.82 | 591762 | 419 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 09-30-25<sup>+</sup> | 7.41 | 0.10 | <sup>•</sup> | 0.09 | 0.19 | 0.11 |  |  | 0.11 |  | 7.49 | **2.56** | 1.63 | 1.59 | 1.59 | 2.59 | 7491 | 225 |
| 03-31-25 | 7.26 | 0.18 | <sup>•</sup> | 0.16 | 0.34 | 0.19 |  |  | 0.19 |  | 7.41 | **4.71** | 1.63 | 1.59 | 1.59 | 2.53 | 7699 | 457 |
| 03-31-24 | 7.43 | 0.18 | <sup>•</sup> | (0.15) | 0.03 | 0.20 |  |  | 0.20 |  | 7.26 | **0.44** | 1.61 | 1.59 | 1.59 | 2.48 | 10785 | 495 |
| 03-31-23 | 7.99 | 0.10 | <sup>•</sup> | (0.52) | (0.42) | 0.14 |  |  | 0.14 |  | 7.43 | **(5.28)** | 1.58 | 1.59 | 1.59 | 1.39 | 17679 | 353 |
| 03-31-22 | 8.46 | (0.03) |)<sup>•</sup> | (0.40) | (0.43) | 0.03 |  | 0.01 | 0.04 |  | 7.99 | **(5.10)** | 1.59 | 1.59 | 1.59 | (0.32) | 26837 | 539 |
| 03-31-21 | 8.53 | 0.01 | <sup>•</sup> | 0.03 | 0.04 | 0.08 |  | 0.03 | 0.11 |  | 8.46 | **0.44** | 1.60 | 1.59 | 1.59 | 0.09 | 48911 | 419 |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
| 09-30-25<sup>+</sup> | 7.46 | 0.14 | <sup>•</sup> | 0.09 | 0.23 | 0.15 |  |  | 0.15 |  | 7.54 | **3.09** | 0.60 | 0.54 | 0.54 | 3.64 | 749537 | 225 |
| 03-31-25 | 7.31 | 0.26 | <sup>•</sup> | 0.16 | 0.42 | 0.27 |  |  | 0.27 |  | 7.46 | **5.80** | 0.60 | 0.54 | 0.54 | 3.57 | 750880 | 457 |
| 03-31-24 | 7.49 | 0.26 | <sup>•</sup> | (0.16) | 0.10 | 0.28 |  |  | 0.28 |  | 7.31 | **1.39** | 0.59 | 0.54 | 0.54 | 3.53 | 861582 | 495 |
| 03-31-23 | 8.04 | 0.19 | <sup>•</sup> | (0.52) | (0.33) | 0.22 |  |  | 0.22 |  | 7.49 | **(4.11)** | 0.56 | 0.54 | 0.54 | 2.48 | 822846 | 353 |
| 03-31-22 | 8.52 | 0.06 | <sup>•</sup> | (0.41) | (0.35) | 0.12 |  | 0.01 | 0.13 |  | 8.04 | **(4.18)** | 0.56 | 0.54 | 0.54 | 0.74 | 834623 | 539 |
| 03-31-21 | 8.59 | 0.09 | <sup>•</sup> | 0.04 | 0.13 | 0.17 |  | 0.03 | 0.20 |  | 8.52 | **1.50** | 0.57 | 0.54 | 0.54 | 1.10 | 968367 | 419 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 09-30-25<sup>+</sup> | 7.46 | 0.14 | <sup>•</sup> | 0.09 | 0.23 | 0.15 |  |  | 0.15 |  | 7.54 | **3.12** | 0.50 | 0.50 | 0.50 | 3.68 | 12874 | 225 |
| 03-31-25 | 7.31 | 0.27 | <sup>•</sup> | 0.15 | 0.42 | 0.27 |  |  | 0.27 |  | 7.46 | **5.85** | 0.50 | 0.50 | 0.50 | 3.60 | 17992 | 457 |
| 03-31-24 | 7.49 | 0.26 | <sup>•</sup> | (0.16) | 0.10 | 0.28 |  |  | 0.28 |  | 7.31 | **1.44** | 0.50 | 0.50 | 0.50 | 3.58 | 28497 | 495 |
| 03-31-23 | 8.05 | 0.19 | <sup>•</sup> | (0.53) | (0.34) | 0.22 |  |  | 0.22 |  | 7.49 | **(4.21)** | 0.49 | 0.49 | 0.49 | 2.57 | 29707 | 353 |
| 03-31-22 | 8.52 | 0.07 | <sup>•</sup> | (0.41) | (0.34) | 0.12 |  | 0.01 | 0.13 |  | 8.05 | **(4.06)** | 0.48 | 0.48 | 0.48 | 0.81 | 23951 | 539 |
| 07-31-20<sup>(4)</sup>- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-21 | 8.58 | 0.04 | <sup>•</sup> | 0.02 | 0.06 | 0.09 |  | 0.03 | 0.12 |  | 8.52 | **0.64** | 0.48 | 0.48 | 0.48 | 0.62 | 41739 | 419 |
| **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** |
| 09-30-25<sup>+</sup> | 7.47 | 0.13 | <sup>•</sup> | 0.10 | 0.23 | 0.15 |  |  | 0.15 |  | 7.55 | **3.07** | 0.63 | 0.59 | 0.59 | 3.59 | 44473 | 225 |
| 03-31-25 | 7.32 | 0.26 | <sup>•</sup> | 0.15 | 0.41 | 0.26 |  |  | 0.26 |  | 7.47 | **5.74** | 0.63 | 0.59 | 0.59 | 3.52 | 46276 | 457 |
| 03-31-24 | 7.50 | 0.25 | <sup>•</sup> | (0.16) | 0.09 | 0.27 |  |  | 0.27 |  | 7.32 | **1.34** | 0.61 | 0.59 | 0.59 | 3.48 | 48555 | 495 |
| 03-31-23 | 8.05 | 0.18 | <sup>•</sup> | (0.52) | (0.34) | 0.21 |  |  | 0.21 |  | 7.50 | **(4.15)** | 0.58 | 0.59 | 0.59 | 2.36 | 66562 | 353 |
| 03-31-22 | 8.53 | 0.06 | <sup>•</sup> | (0.41) | (0.35) | 0.12 |  | 0.01 | 0.13 |  | 8.05 | **(4.22)** | 0.59 | 0.59 | 0.59 | 0.70 | 110824 | 539 |
| 03-31-21 | 8.60 | 0.09 | <sup>•</sup> | 0.04 | 0.13 | 0.17 |  | 0.03 | 0.20 |  | 8.53 | **1.45** | 0.60 | 0.59 | 0.59 | 1.02 | 179530 | 419 |
| **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** | **Voya High Yield Bond Fund** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 09-30-25<sup>+</sup> | 6.88 | 0.20 | <sup>•</sup> | 0.18 | 0.38 | 0.22 |  |  | 0.22 |  | 7.04 | **5.60** | 1.06 | 1.01 | 1.01 | 5.67 | 32139 | 111 |
| 03-31-25 | 6.88 | 0.44 | <sup>•</sup> |  | 0.44 | 0.44 |  |  | 0.44 |  | 6.88 | **6.53** | 1.06 | 1.01 | 1.01 | 6.41 | 32966 | 75 |
| 03-31-24 | 6.73 | 0.42 | <sup>•</sup> | 0.16 | 0.58 | 0.43 |  |  | 0.43 |  | 6.88 | **8.89** | 1.09 | 1.04 | 1.04 | 6.24 | 35358 | 62 |
| 03-31-23 | 7.58 | 0.37 | <sup>•</sup> | (0.77) | (0.40) | 0.36 | 0.09 |  | 0.45 |  | 6.73 | **(5.07)** | 1.08 | 1.07 | 1.07 | 5.46 | 38546 | 70 |
| 03-31-22 | 7.99 | 0.36 | <sup>•</sup> | (0.40) | (0.04) | 0.37 | 0.00 \* |  | 0.37 |  | 7.58 | **(0.62)** | 1.04 | 1.04 | 1.04 | 4.55 | 45842 | 63 |
| 03-31-21 | 7.02 | 0.38 | <sup>•</sup> | 0.99 | 1.37 | 0.38 |  | 0.02 | 0.40 |  | 7.99 | **19.76** | 1.04 | 1.04 | 1.04 | 4.86 | 49805 | 78 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 09-30-25<sup>+</sup> | 6.88 | 0.17 | <sup>•</sup> | 0.17 | 0.34 | 0.19 |  |  | 0.19 |  | 7.03 | **5.05** | 1.81 | 1.76 | 1.76 | 4.94 | 1158 | 111 |
| 03-31-25 | 6.87 | 0.39 | <sup>•</sup> | 0.01 | 0.40 | 0.39 |  |  | 0.39 |  | 6.88 | **5.89** | 1.81 | 1.76 | 1.76 | 5.69 | 1492 | 75 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

------

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental <br> Data** | **Supplemental <br> Data** | **Supplemental <br> Data** |
|  | <br>Net asset <br> value, <br> beginning <br> of year or <br> period | Net <br> investment <br> income <br> (loss) | | Net <br> realized <br> and <br> unrealized <br> gain (loss) | <br>Total from <br> investment <br> operations | From net<br> investment <br> income | From <br> net <br> realized <br> gains | From <br> return of <br> capital | <br>Total <br> distributions | <br>Payment <br> by affiliate | <br>Net<br> asset <br> value, <br> end of <br> year or <br> period | <br>**Total <br> Return<sup>(1)</sup>** | Expenses <br> before <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses <br> net of fee<br> waivers <br> and/or <br> recoupments <br> if any <br> <sup>(2)(3)</sup> | Expenses <br> net of all <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net <br> investment <br> income <br> (loss)<br> <sup>(2)(3)</sup> | Net assets, <br> end of <br> year or <br> period | Portfolio<br> turnover<br> rate | |
| Year or <br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) | |
| **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | **Voya High Yield Bond Fund (continued)** | |
| **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | **Class C (continued)** | |
| 03-31-24 | 6.72 | 0.37 | <sup>•</sup> | 0.16 | 0.53 | 0.38 |  |  | 0.38 |  | 6.87 | **8.08** | 1.84 | 1.79 | 1.79 | 5.49 | 5982 | 62 | |
| 03-31-23 | 7.58 | 0.32 | <sup>•</sup> | (0.77) | (0.45) | 0.32 | 0.09 |  | 0.41 |  | 6.72 | **(5.87)** | 1.83 | 1.82 | 1.82 | 4.69 | 6562 | 70 | |
| 03-31-22 | 7.99 | 0.30 | <sup>•</sup> | (0.40) | (0.10) | 0.31 | 0.00 \* |  | 0.31 |  | 7.58 | **(1.37)** | 1.79 | 1.79 | 1.79 | 3.80 | 9496 | 63 | |
| 03-31-21 | 7.02 | 0.32 | <sup>•</sup> | 0.99 | 1.31 | 0.32 |  | 0.02 | 0.34 |  | 7.99 | **18.88** | 1.79 | 1.79 | 1.79 | 4.12 | 10150 | 78 | |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | |
| 09-30-25<sup>+</sup> | 6.86 | 0.21 | <sup>•</sup> | 0.18 | 0.39 | 0.23 |  |  | 0.23 |  | 7.02 | **5.79** | 0.74 | 0.69 | 0.69 | 6.00 | 113211 | 111 | |
| 03-31-25 | 6.86 | 0.47 | <sup>•</sup> | (0.01) | 0.46 | 0.46 |  |  | 0.46 |  | 6.86 | **6.90** | 0.73 | 0.68 | 0.68 | 6.74 | 126861 | 75 | |
| 03-31-24 | 6.71 | 0.44 | <sup>•</sup> | 0.16 | 0.60 | 0.45 |  |  | 0.45 |  | 6.86 | **9.28** | 0.75 | 0.70 | 0.70 | 6.59 | 193044 | 62 | |
| 03-31-23 | 7.57 | 0.40 | <sup>•</sup> | (0.78) | (0.38) | 0.39 | 0.09 |  | 0.48 |  | 6.71 | **(4.83)** | 0.73 | 0.72 | 0.72 | 5.82 | 188736 | 70 | |
| 03-31-22 | 7.98 | 0.39 | <sup>•</sup> | (0.40) | (0.01) | 0.40 | 0.00 \* |  | 0.40 |  | 7.57 | **(0.28)** | 0.69 | 0.69 | 0.69 | 4.90 | 193357 | 63 | |
| 03-31-21 | 7.01 | 0.40 | <sup>•</sup> | 0.99 | 1.39 | 0.40 |  | 0.02 | 0.42 |  | 7.98 | **20.19** | 0.69 | 0.69 | 0.69 | 5.18 | 171058 | 78 | |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | |
| 09-30-25<sup>+</sup> | 6.88 | 0.19 | <sup>•</sup> | 0.18 | 0.37 | 0.21 |  |  | 0.21 |  | 7.04 | **5.47** | 1.31 | 1.26 | 1.26 | 5.41 | 283 | 111 | |
| 03-31-25 | 6.88 | 0.43 | <sup>•</sup> | (0.01) | 0.42 | 0.42 |  |  | 0.42 |  | 6.88 | **6.26** | 1.31 | 1.26 | 1.26 | 6.16 | 324 | 75 | |
| 03-31-24 | 6.73 | 0.40 | <sup>•</sup> | 0.16 | 0.56 | 0.41 |  |  | 0.41 |  | 6.88 | **8.62** | 1.34 | 1.29 | 1.29 | 6.00 | 297 | 62 | |
| 03-31-23 | 7.59 | 0.36 | <sup>•</sup> | (0.78) | (0.42) | 0.35 | 0.09 |  | 0.44 |  | 6.73 | **(5.38)** | 1.33 | 1.32 | 1.32 | 5.26 | 256 | 70 | |
| 03-31-22 | 8.00 | 0.34 | <sup>•</sup> | (0.40) | (0.06) | 0.35 | 0.00 \* |  | 0.35 |  | 7.59 | **(0.87)** | 1.29 | 1.29 | 1.29 | 4.29 | 182 | 63 | |
| 03-31-21 | 7.03 | 0.36 | <sup>•</sup> | 0.99 | 1.35 | 0.36 |  | 0.02 | 0.38 |  | 8.00 | **19.44** | 1.29 | 1.29 | 1.29 | 4.61 | 547 | 78 | |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | |
| 09-30-25<sup>+</sup> | 6.88 | 0.21 | <sup>•</sup> | 0.18 | 0.39 | 0.23 |  |  | 0.23 |  | 7.04 | **5.81** | 0.67 | 0.62 | 0.62 | 6.08 | 73779 | 111 | |
| 03-31-25 | 6.88 | 0.47 | <sup>•</sup> |  | 0.47 | 0.47 |  |  | 0.47 |  | 6.88 | **6.96** | 0.66 | 0.61 | 0.61 | 6.81 | 158047 | 75 | |
| 03-31-24 | 6.73 | 0.45 | <sup>•</sup> | 0.15 | 0.60 | 0.45 |  |  | 0.45 |  | 6.88 | **9.34** | 0.68 | 0.63 | 0.63 | 6.69 | 197092 | 62 | |
| 03-31-23 | 7.59 | 0.40 | <sup>•</sup> | (0.77) | (0.37) | 0.40 | 0.09 |  | 0.49 |  | 6.73 | **(4.74)** | 0.67 | 0.66 | 0.66 | 5.94 | 93175 | 70 | |
| 03-31-22 | 8.00 | 0.40 | <sup>•</sup> | (0.41) | (0.01) | 0.40 | 0.00 \* |  | 0.40 |  | 7.59 | **(0.21)** | 0.63 | 0.63 | 0.63 | 4.91 | 44338 | 63 | |
| 03-31-21 | 7.02 | 0.41 | <sup>•</sup> | 1.00 | 1.41 | 0.41 |  | 0.02 | 0.43 |  | 8.00 | **20.39** | 0.63 | 0.63 | 0.63 | 5.26 | 242749 | 78 | |
| **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | |
| 09-30-25<sup>+</sup> | 6.89 | 0.21 | <sup>•</sup> | 0.18 | 0.39 | 0.23 |  |  | 0.23 |  | 7.05 | **5.73** | 0.81 | 0.76 | 0.76 | 5.92 | 36649 | 111 | |
| 03-31-25 | 6.89 | 0.46 | <sup>•</sup> |  | 0.46 | 0.46 |  |  | 0.46 |  | 6.89 | **6.79** | 0.81 | 0.76 | 0.76 | 6.66 | 37673 | 75 | |
| 03-31-24 | 6.74 | 0.44 | <sup>•</sup> | 0.15 | 0.59 | 0.44 |  |  | 0.44 |  | 6.89 | **9.16** | 0.84 | 0.79 | 0.79 | 6.46 | 43846 | 62 | |
| 03-31-23 | 7.60 | 0.39 | <sup>•</sup> | (0.77) | (0.38) | 0.39 | 0.09 |  | 0.48 |  | 6.74 | **(4.88)** | 0.83 | 0.82 | 0.82 | 5.70 | 57159 | 70 | |
| 03-31-22 | 8.00 | 0.38 | <sup>•</sup> | (0.39) | (0.01) | 0.39 | 0.00 \* |  | 0.39 |  | 7.60 | **(0.24)** | 0.79 | 0.79 | 0.79 | 4.79 | 84428 | 63 | |
| 03-31-21 | 7.03 | 0.40 | <sup>•</sup> | 0.99 | 1.39 | 0.40 |  | 0.02 | 0.42 |  | 8.00 | **20.03** | 0.79 | 0.79 | 0.79 | 5.09 | 145963 | 78 | |
| **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | |
| 09-30-25<sup>+</sup> | 8.75 | 0.19 | <sup>•</sup> | 0.11 | 0.30 | 0.19 |  |  | 0.19 |  | 8.86 | **3.43** | 0.64 | 0.64 | 0.64 | 4.32 | 178255 | 76 | <sup>††</sup> |
| 03-31-25 | 8.67 | 0.37 | <sup>•</sup> | 0.09 | 0.46 | 0.38 |  |  | 0.38 |  | 8.75 | **5.42** | 0.68 | 0.68 | 0.68 | 4.30 | 188702 | 152 | <sup>††</sup> |
| 03-31-24 | 8.74 | 0.33 | <sup>•</sup> | (0.06) | 0.27 | 0.34 |  |  | 0.34 |  | 8.67 | **3.17** | 0.72 | 0.72 | 0.72 | 3.82 | 223398 | 277 | <sup>††</sup> |
| 03-31-23 | 9.55 | 0.26 | <sup>•</sup> | (0.82) | (0.56) | 0.25 |  |  | 0.25 |  | 8.74 | **(5.82)** | 0.72 | 0.72 | 0.72 | 2.93 | 245387 | 247 | <sup>††</sup> |
| 03-31-22 | 10.25 | 0.20 | <sup>•</sup> | (0.66) | (0.46) | 0.22 |  | 0.02 | 0.24 |  | 9.55 | **(4.70)** | 0.69 | 0.69 | 0.69 | 1.97 | 364121 | 222 | <sup>††</sup> |
| 03-31-21 | 10.11 | 0.25 | <sup>•</sup> | 0.38 | 0.63 | 0.29 | 0.17 | 0.03 | 0.49 |  | 10.25 | **6.12** | 0.70 | 0.70 | 0.70 | 2.35 | 459960 | 159 | <sup>††</sup> |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | |
| 09-30-25<sup>+</sup> | 8.74 | 0.16 | <sup>•</sup> | 0.10 | 0.26 | 0.15 |  |  | 0.15 |  | 8.85 | **3.04** | 1.39 | 1.39 | 1.39 | 3.57 | 5573 | 76 | <sup>††</sup> |
| 03-31-25 | 8.66 | 0.31 | <sup>•</sup> | 0.08 | 0.39 | 0.31 |  |  | 0.31 |  | 8.74 | **4.64** | 1.43 | 1.43 | 1.43 | 3.55 | 5818 | 152 | <sup>††</sup> |
| 03-31-24 | 8.72 | 0.26 | <sup>•</sup> | (0.05) | 0.21 | 0.27 |  |  | 0.27 |  | 8.66 | **2.52** | 1.47 | 1.47 | 1.47 | 3.06 | 7103 | 277 | <sup>††</sup> |
| 03-31-23 | 9.53 | 0.19 | <sup>•</sup> | (0.81) | (0.62) | 0.19 |  |  | 0.19 |  | 8.72 | **(6.54)** | 1.47 | 1.47 | 1.47 | 2.17 | 9687 | 247 | <sup>††</sup> |
| 03-31-22 | 10.23 | 0.12 | <sup>•</sup> | (0.66) | (0.54) | 0.14 |  | 0.02 | 0.16 |  | 9.53 | **(5.43)** | 1.44 | 1.44 | 1.44 | 1.22 | 15564 | 222 | <sup>††</sup> |
| 03-31-21 | 10.09 | 0.17 | <sup>•</sup> | 0.38 | 0.55 | 0.21 | 0.17 | 0.03 | 0.41 |  | 10.23 | **5.34** | 1.45 | 1.45 | 1.45 | 1.62 | 22702 | 159 | <sup>††</sup> |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

------

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental <br> Data** | **Supplemental <br> Data** | **Supplemental <br> Data** |
|  | <br>Net asset <br> value, <br> beginning <br> of year or <br> period | Net <br> investment <br> income <br> (loss) | | Net <br> realized <br> and <br> unrealized<br> gain (loss) | <br>Total from <br> investment <br> operations | From net<br> investment <br> income | From <br> net <br> realized <br> gains | From <br> return of <br> capital | <br>Total <br> distributions | <br>Payment <br> by affiliate | <br>Net <br> asset <br> value, <br> end of<br> year or <br> period | <br>**Total <br> Return<sup>(1)</sup>** | Expenses <br> before <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses <br> net of fee <br> waivers <br> and/or <br> recoupments <br> if any<br> <sup>(2)(3)</sup> | Expenses <br> net of all<br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net <br> investment <br> income <br> (loss)<br> <sup>(2)(3)</sup> | Net <br> assets,<br> end of <br> year or <br> period | Portfolio <br> turnover <br> rate | |
| Year or <br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) | |
| **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | **Voya Intermediate Bond Fund (continued)** | |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | |
| 09-30-25<sup>+</sup> | 8.75 | 0.20 | <sup>•</sup> | 0.11 | 0.31 | 0.20 |  |  | 0.20 |  | 8.86 | **3.61** | 0.35 | 0.35 | 0.35 | 4.61 | 6565941 | 76 | <sup>††</sup> |
| 03-31-25 | 8.68 | 0.40 | <sup>•</sup> | 0.08 | 0.48 | 0.41 |  |  | 0.41 |  | 8.75 | **5.68** | 0.36 | 0.36 | 0.36 | 4.62 | 6370144 | 152 | <sup>††</sup> |
| 03-31-24 | 8.74 | 0.36 | <sup>•</sup> | (0.05) | 0.31 | 0.37 |  |  | 0.37 |  | 8.68 | **3.66** | 0.34 | 0.34 | 0.34 | 4.21 | 5613853 | 277 | <sup>††</sup> |
| 03-31-23 | 9.55 | 0.29 | <sup>•</sup> | (0.82) | (0.53) | 0.28 |  |  | 0.28 |  | 8.74 | **(5.51)** | 0.36 | 0.36 | 0.36 | 3.29 | 4938036 | 247 | <sup>††</sup> |
| 03-31-22 | 10.25 | 0.24 | <sup>•</sup> | (0.67) | (0.43) | 0.25 |  | 0.02 | 0.27 |  | 9.55 | **(4.39)** | 0.35 | 0.35 | 0.35 | 2.32 | 6092396 | 222 | <sup>††</sup> |
| 03-31-21 | 10.10 | 0.29 | <sup>•</sup> | 0.38 | 0.67 | 0.32 | 0.17 | 0.03 | 0.52 |  | 10.25 | **6.57** | 0.34 | 0.34 | 2.70 | 0.34 | 6175479 | 159 | <sup>††</sup> |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | |
| 09-30-25<sup>+</sup> | 8.76 | 0.18 | <sup>•</sup> | 0.12 | 0.30 | 0.18 |  |  | 0.18 |  | 8.88 | **3.41** | 0.89 | 0.89 | 0.89 | 4.07 | 101989 | 76 | <sup>††</sup> |
| 03-31-25 | 8.68 | 0.35 | <sup>•</sup> | 0.09 | 0.44 | 0.36 |  |  | 0.36 |  | 8.76 | **5.16** | 0.93 | 0.93 | 0.93 | 4.05 | 102338 | 152 | <sup>††</sup> |
| 03-31-24 | 8.75 | 0.31 | <sup>•</sup> | (0.06) | 0.25 | 0.32 |  |  | 0.32 |  | 8.68 | **2.92** | 0.97 | 0.97 | 0.97 | 3.57 | 112487 | 277 | <sup>††</sup> |
| 03-31-23 | 9.56 | 0.24 | <sup>•</sup> | (0.82) | (0.58) | 0.23 |  |  | 0.23 |  | 8.75 | **(6.04)** | 0.97 | 0.97 | 0.97 | 2.70 | 115639 | 247 | <sup>††</sup> |
| 03-31-22 | 10.26 | 0.18 | <sup>•</sup> | (0.67) | (0.49) | 0.19 |  | 0.02 | 0.21 |  | 9.56 | **(4.93)** | 0.94 | 0.94 | 0.94 | 1.72 | 143085 | 222 | <sup>††</sup> |
| 03-31-21 | 10.12 | 0.22 | <sup>•</sup> | 0.38 | 0.60 | 0.26 | 0.17 | 0.03 | 0.46 |  | 10.26 | **5.86** | 0.95 | 0.95 | 0.95 | 2.11 | 175289 | 159 | <sup>††</sup> |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | |
| 09-30-25<sup>+</sup> | 8.76 | 0.20 | <sup>•</sup> | 0.11 | 0.31 | 0.20 |  |  | 0.20 |  | 8.87 | **3.64** | 0.30 | 0.30 | 0.30 | 4.67 | 2999774 | 76 | <sup>††</sup> |
| 03-31-25 | 8.68 | 0.41 | <sup>•</sup> | 0.09 | 0.50 | 0.42 |  |  | 0.42 |  | 8.76 | **5.86** | 0.31 | 0.31 | 0.31 | 4.67 | 2749281 | 152 | <sup>††</sup> |
| 03-31-24 | 8.75 | 0.36 | <sup>•</sup> | (0.06) | 0.30 | 0.37 |  |  | 0.37 |  | 8.68 | **3.60** | 0.29 | 0.29 | 0.29 | 4.25 | 2440996 | 277 | <sup>††</sup> |
| 03-31-23 | 9.56 | 0.30 | <sup>•</sup> | (0.83) | (0.53) | 0.28 |  |  | 0.28 |  | 8.75 | **(5.46)** | 0.30 | 0.30 | 0.30 | 3.37 | 2302998 | 247 | <sup>††</sup> |
| 03-31-22 | 10.25 | 0.24 | <sup>•</sup> | (0.66) | (0.42) | 0.25 |  | 0.02 | 0.27 |  | 9.56 | **(4.25)** | 0.29 | 0.29 | 0.29 | 2.37 | 2563038 | 222 | <sup>††</sup> |
| 03-31-21 | 10.11 | 0.29 | <sup>•</sup> | 0.38 | 0.67 | 0.33 | 0.17 | 0.03 | 0.53 |  | 10.25 | **6.50** | 0.30 | 0.30 | 0.30 | 2.74 | 2861963 | 159 | <sup>††</sup> |
| **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | |
| 09-30-25<sup>+</sup> | 8.74 | 0.20 | <sup>•</sup> | 0.12 | 0.32 | 0.20 |  |  | 0.20 |  | 8.86 | **3.67** | 0.39 | 0.39 | 0.39 | 4.57 | 86171 | 76 | <sup>††</sup> |
| 03-31-25 | 8.67 | 0.40 | <sup>•</sup> | 0.07 | 0.47 | 0.40 |  |  | 0.40 |  | 8.74 | **5.57** | 0.43 | 0.43 | 0.43 | 4.55 | 90128 | 152 | <sup>††</sup> |
| 03-31-24 | 8.73 | 0.35 | <sup>•</sup> | (0.05) | 0.30 | 0.36 |  |  | 0.36 |  | 8.67 | **3.55** | 0.47 | 0.47 | 0.47 | 4.10 | 103015 | 277 | <sup>††</sup> |
| 03-31-23 | 9.54 | 0.28 | <sup>•</sup> | (0.82) | (0.54) | 0.27 |  |  | 0.27 |  | 8.73 | **(5.59)** | 0.47 | 0.47 | 0.47 | 3.11 | 62837 | 247 | <sup>††</sup> |
| 03-31-22 | 10.24 | 0.23 | <sup>•</sup> | (0.67) | (0.44) | 0.24 |  | 0.02 | 0.26 |  | 9.54 | **(4.47)** | 0.44 | 0.44 | 0.44 | 2.22 | 174769 | 222 | <sup>††</sup> |
| 03-31-21 | 10.10 | 0.27 | <sup>•</sup> | 0.38 | 0.65 | 0.31 | 0.17 | 0.03 | 0.51 |  | 10.24 | **6.39** | 0.45 | 0.45 | 0.45 | 2.59 | 268634 | 159 | <sup>††</sup> |
| **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | **Voya Short Duration Bond Fund** | |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | |
| 09-30-25<sup>+</sup> | 9.37 | 0.21 | <sup>•</sup> | 0.04 | 0.25 | 0.21 |  |  | 0.21 |  | 9.41 | **2.73** | 0.66 | 0.66 | 0.66 | 4.45 | 2813 | 101 | |
| 03-31-25 | 9.27 | 0.42 | <sup>•</sup> | 0.10 | 0.52 | 0.42 |  |  | 0.42 |  | 9.37 | **5.68** | 0.64 | 0.64 | 0.64 | 4.46 | 3870 | 284 | |
| 03-31-24 | 9.29 | 0.36 | <sup>•</sup> | (0.01) | 0.35 | 0.37 |  |  | 0.37 |  | 9.27 | **3.89** | 0.64 | 0.63 | 0.63 | 3.93 | 4124 | 348 | |
| 03-31-23 | 9.58 | 0.21 | <sup>•</sup> | (0.29) | (0.08) | 0.21 |  |  | 0.21 |  | 9.29 | **(0.83)** | 0.64 | 0.62 | 0.62 | 2.26 | 9054 | 225 | |
| 03-31-22 | 9.98 | 0.09 | <sup>•</sup> | (0.36) | (0.27) | 0.10 |  | 0.03 | 0.13 |  | 9.58 | **(2.81)** | 0.64 | 0.63 | 0.63 | 0.93 | 15351 | 250 | |
| 03-31-21 | 9.55 | 0.16 | <sup>•</sup> | 0.46 | 0.62 | 0.17 |  | 0.02 | 0.19 |  | 9.98 | **6.48** | 0.68 | 0.60 | 0.60 | 1.62 | 19499 | 145 | |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | |
| 09-30-25<sup>+</sup> | 9.37 | 0.17 | <sup>•</sup> | 0.06 | 0.23 | 0.18 |  |  | 0.18 |  | 9.42 | **2.45** | 1.41 | 1.41 | 1.41 | 3.69 | 96 | 101 | |
| 03-31-25 | 9.28 | 0.35 | <sup>•</sup> | 0.09 | 0.44 | 0.35 |  |  | 0.35 |  | 9.37 | **4.79** | 1.39 | 1.39 | 1.39 | 3.71 | 91 | 284 | |
| 03-31-24 | 9.30 | 0.30 | <sup>•</sup> | (0.02) | 0.28 | 0.30 |  |  | 0.30 |  | 9.28 | **3.11** | 1.39 | 1.38 | 1.38 | 3.19 | 82 | 348 | |
| 03-31-23 | 9.58 | 0.13 | <sup>•</sup> | (0.27) | (0.14) | 0.14 |  |  | 0.14 |  | 9.30 | **(1.47)** | 1.39 | 1.37 | 1.37 | 1.34 | 149 | 225 | |
| 03-31-22 | 9.98 | 0.02 | <sup>•</sup> | (0.37) | (0.35) | 0.02 |  | 0.03 | 0.05 |  | 9.58 | **(3.54)** | 1.39 | 1.38 | 1.38 | 0.18 | 442 | 250 | |
| 03-31-21 | 9.55 | 0.09 | <sup>•</sup> | 0.45 | 0.54 | 0.09 |  | 0.02 | 0.11 |  | 9.98 | **5.69** | 1.43 | 1.35 | 1.35 | 0.89 | 548 | 145 | |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | |
| 09-30-25<sup>+</sup> | 9.36 | 0.22 | <sup>•</sup> | 0.05 | 0.27 | 0.23 |  |  | 0.23 |  | 9.40 | **2.87** | 0.34 | 0.34 | 0.34 | 4.74 | 52375 | 101 | |
| 03-31-25 | 9.26 | 0.44 | <sup>•</sup> | 0.10 | 0.54 | 0.44 |  |  | 0.44 |  | 9.36 | **5.97** | 0.37 | 0.35 | 0.35 | 4.74 | 37425 | 284 | |
| 03-31-24 | 9.28 | 0.40 | <sup>•</sup> | (0.02) | 0.38 | 0.40 |  |  | 0.40 |  | 9.26 | **4.17** | 0.38 | 0.35 | 0.35 | 4.29 | 34484 | 348 | |
| 03-31-23 | 9.57 | 0.25 | <sup>•</sup> | (0.30) | (0.05) | 0.24 |  |  | 0.24 |  | 9.28 | **(0.54)** | 0.40 | 0.35 | 0.35 | 2.67 | 31011 | 225 | |
| 03-31-22 | 9.97 | 0.12 | <sup>•</sup> | (0.36) | (0.24) | 0.13 |  | 0.03 | 0.16 |  | 9.57 | **(2.52)** | 0.40 | 0.35 | 0.35 | 1.19 | 31691 | 250 | |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

------

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental<br> Data** | **Supplemental<br> Data** |
|  | <br>Net asset<br> value, <br> beginning<br> of year or<br> period | Net<br> investment<br> income<br> (loss) | | Net<br> realized <br> and<br> unrealized <br> gain (loss) | <br>Total from <br> investment <br> operations | From net<br> investment<br> income | From net <br> realized <br> gains | From<br> return of <br> capital | <br>Total <br> distributions | <br>Payment by<br> affiliate | <br>Net<br> asset <br> value,<br> end of<br> year or<br> period | <br>**Total <br> Return<sup>(1)</sup>** | Expenses<br> before <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses <br> net of fee <br> waivers and/or <br> recoupments <br> if any<br> <sup>(2)(3)</sup> | Expenses<br> net of all <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net <br> investment <br> income <br> (loss)<br> <sup>(2)(3)</sup> | Net <br> assets, <br> end of<br> year or period | Portfolio <br> turnover<br> rate |
| Year or<br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) |
| **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** | **Voya Short Duration Bond Fund (continued)** |
| **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** |
| 03-31-21 | 9.54 | 0.19 | <sup>•</sup> | 0.46 | 0.65 | 0.20 |  | 0.02 | 0.22 |  | 9.97 | **6.81** | 0.48 | 0.35 | 0.35 | 1.91 | 16762 | 145 |
| **Class R** |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 09-30-25<sup>+</sup> | 9.40 | 0.20 | <sup>•</sup> | 0.04 | 0.24 | 0.20 |  |  | 0.20 |  | 9.44 | **2.60** | 0.91 | 0.91 | 0.91 | 4.17 | 69 | 101 |
| 03-31-25 | 9.30 | 0.39 | <sup>•</sup> | 0.10 | 0.49 | 0.39 |  |  | 0.39 |  | 9.40 | **5.42** | 0.89 | 0.89 | 0.89 | 4.20 | 43 | 284 |
| 03-31-24 | 9.33 | 0.35 | <sup>•</sup> | (0.03) | 0.32 | 0.35 |  |  | 0.35 |  | 9.30 | **3.52** | 0.89 | 0.88 | 0.88 | 3.78 | 34 | 348 |
| 03-31-23 | 9.61 | 0.20 | <sup>•</sup> | (0.29) | (0.09) | 0.19 |  |  | 0.19 |  | 9.33 | **(0.96)** | 0.89 | 0.87 | 0.87 | 2.14 | 23 | 225 |
| 03-31-22 | 10.01 | 0.07 | <sup>•</sup> | (0.37) | (0.30) | 0.07 |  | 0.03 | 0.10 |  | 9.61 | **(3.04)** | 0.89 | 0.88 | 0.88 | 0.66 | 17 | 250 |
| 03-31-21 | 9.57 | 0.14 | <sup>•</sup> | 0.46 | 0.60 | 0.14 |  | 0.02 | 0.16 |  | 10.01 | **6.32** | 0.93 | 0.85 | 0.85 | 1.39 | 8 | 145 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 09-30-25<sup>+</sup> | 9.37 | 0.23 | <sup>•</sup> | 0.04 | 0.27 | 0.23 |  |  | 0.23 |  | 9.41 | **2.90** | 0.30 | 0.30 | 0.30 | 4.79 | 320365 | 101 |
| 03-31-25 | 9.27 | 0.45 | <sup>•</sup> | 0.10 | 0.55 | 0.45 |  |  | 0.45 |  | 9.37 | **6.02** | 0.30 | 0.30 | 0.30 | 4.79 | 545288 | 284 |
| 03-31-24 | 9.29 | 0.40 | <sup>•</sup> | (0.02) | 0.38 | 0.40 |  |  | 0.40 |  | 9.27 | **4.22** | 0.31 | 0.30 | 0.30 | 4.35 | 503455 | 348 |
| 03-31-23 | 9.58 | 0.25 | <sup>•</sup> | (0.30) | (0.05) | 0.24 |  |  | 0.24 |  | 9.29 | **(0.50)** | 0.32 | 0.30 | 0.30 | 2.63 | 338437 | 225 |
| 03-31-22 | 9.98 | 0.12 | <sup>•</sup> | (0.36) | (0.24) | 0.13 |  | 0.03 | 0.16 |  | 9.58 | **(2.49)** | 0.31 | 0.30 | 0.30 | 1.18 | 372853 | 250 |
| 03-31-21 | 9.55 | 0.20 | <sup>•</sup> | 0.45 | 0.65 | 0.20 |  | 0.02 | 0.22 |  | 9.98 | **6.83** | 0.38 | 0.30 | 0.30 | 2.01 | 51298 | 145 |
| **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** |
| 09-30-25<sup>+</sup> | 9.39 | 0.22 | <sup>•</sup> | 0.06 | 0.28 | 0.23 |  |  | 0.23 |  | 9.44 | **2.97** | 0.41 | 0.41 | 0.41 | 4.69 | 7112 | 101 |
| 03-31-25 | 9.30 | 0.44 | <sup>•</sup> | 0.09 | 0.53 | 0.44 |  |  | 0.44 |  | 9.39 | **5.83** | 0.39 | 0.39 | 0.39 | 4.71 | 7414 | 284 |
| 03-31-24 | 9.32 | 0.39 | <sup>•</sup> | (0.01) | 0.38 | 0.40 |  |  | 0.40 |  | 9.30 | **4.15** | 0.39 | 0.38 | 0.38 | 4.22 | 10083 | 348 |
| 03-31-23 | 9.60 | 0.23 | <sup>•</sup> | (0.28) | (0.05) | 0.23 |  |  | 0.23 |  | 9.32 | **(0.47)** | 0.39 | 0.37 | 0.37 | 2.47 | 12660 | 225 |
| 03-31-22 | 10.01 | 0.12 | <sup>•</sup> | (0.38) | (0.26) | 0.12 |  | 0.03 | 0.15 |  | 9.60 | **(2.65)** | 0.39 | 0.38 | 0.38 | 1.18 | 19721 | 250 |
| 03-31-21 | 9.57 | 0.18 | <sup>•</sup> | 0.47 | 0.65 | 0.19 |  | 0.02 | 0.21 |  | 10.01 | **6.84** | 0.43 | 0.35 | 0.35 | 1.85 | 21981 | 145 |
| **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** | **Voya Short Duration High Income Fund** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 09-30-25<sup>+</sup> | 9.88 | 0.29 | <sup>•</sup> | (0.17) | 0.12 | 0.36 |  |  | 0.36 |  | 9.64 | **1.28** | 0.84 | 0.84 | 0.84 | 6.02 | 89388 | 20 |
| 03-31-25 | 10.14 | 0.79 | <sup>•</sup> | (0.17) | 0.62 | 0.78 | 0.10 |  | 0.88 |  | 9.88 | **6.18** | 0.83 | 0.83 | 0.83 | 7.75 | 20576 | 68 |
| 03-31-24 | 9.88 | 0.77 | <sup>•</sup> | 0.27 | 1.04 | 0.78 |  |  | 0.78 |  | 10.14 | **10.91** | 1.12 | 0.85 | 0.85 | 7.74 | 13674 | 55 |
| 02-09-23- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.10 | <sup>•</sup> | (0.12) | (0.02) | 0.10 |  |  | 0.10 |  | 9.88 | **(0.21)** | 1.22 | 0.85 | 0.85 | 7.35 | 8605 | 1 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 09-30-25<sup>+</sup> | 10.00 | 0.28 | <sup>•</sup> | (0.19) | 0.09 | 0.33 |  |  | 0.33 |  | 9.76 | **0.93** | 1.59 | 1.59 | 1.59 | 5.82 | 9235 | 20 |
| 03-31-25 | 10.25 | 0.72 | <sup>•</sup> | (0.16) | 0.56 | 0.71 | 0.10 |  | 0.81 |  | 10.00 | **5.51** | 1.58 | 1.58 | 1.58 | 6.98 | 5126 | 68 |
| 04-20-23- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-24 | 10.00 | 0.68 | <sup>•</sup> | 0.25 | 0.93 | 0.68 |  |  | 0.68 |  | 10.25 | **9.66** | 1.87 | 1.60 | 1.60 | 7.06 | 349 | 55 |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
| 09-30-25<sup>+</sup> | 9.88 | 0.34 | <sup>•</sup> | (0.22) | 0.12 | 0.37 |  |  | 0.37 |  | 9.63 | **1.30** | 0.61 | 0.61 | 0.61 | 7.03 | 148734 | 20 |
| 03-31-25 | 10.14 | 0.81 | <sup>•</sup> | (0.16) | 0.65 | 0.81 | 0.10 |  | 0.91 |  | 9.88 | **6.44** | 0.61 | 0.60 | 0.60 | 7.96 | 232456 | 68 |
| 03-31-24 | 9.88 | 0.79 | <sup>•</sup> | 0.27 | 1.06 | 0.80 |  |  | 0.80 |  | 10.14 | **11.19** | 0.89 | 0.60 | 0.60 | 7.89 | 94349 | 55 |
| 02-09-23- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.10 | <sup>•</sup> | (0.12) | (0.02) | 0.10 |  |  | 0.10 |  | 9.88 | **(0.17)** | 0.97 | 0.60 | 0.60 | 7.61 | 8805 | 1 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 09-30-25<sup>+</sup> | 9.88 | 0.36 | <sup>•</sup> | (0.23) | 0.13 | 0.37 |  |  | 0.37 |  | 9.64 | **1.41** | 0.57 | 0.57 | 0.57 | 7.49 | 10 | 20 |
| 03-31-25 | 10.13 | 0.82 | <sup>•</sup> | (0.16) | 0.66 | 0.81 | 0.10 |  | 0.91 |  | 9.88 | **6.55** | 0.56 | 0.56 | 0.56 | 8.03 | 9858 | 68 |
| 03-31-24 | 9.88 | 0.79 | <sup>•</sup> | 0.27 | 1.06 | 0.81 |  |  | 0.81 |  | 10.13 | **11.12** | 0.86 | 0.60 | 0.60 | 7.90 | 26931 | 55 |
| 02-09-23- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.10 | <sup>•</sup> | (0.12) | (0.02) | 0.10 |  |  | 0.10 |  | 9.88 | **(0.17)** | 0.97 | 0.60 | 0.60 | 7.59 | 8321 | 1 |

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See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

------

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| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | **Income (loss)<br> from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental<br> Data** | **Supplemental<br> Data** |
|  | <br>Net asset<br> value,<br> beginning<br> of year or<br> period | Net<br> investment<br> income<br> (loss) | | Net<br> realized<br> and<br> unrealized<br> gain (loss) | <br>Total from<br> investment<br> operations | From net<br> investment<br> income | From<br> net<br> realized<br> gains | From<br> return of<br> capital | <br>Total<br> distributions | <br>Payment<br> by affiliate | <br>Net<br> asset<br> value,<br> end of<br> year or<br> period | <br>**Total <br> Return<sup>(1)</sup>** | Expenses <br> before<br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses<br> net of fee<br> waivers<br> and/or<br> recoupments<br> if any<br> <sup>(2)(3)</sup> | Expenses <br> net of all <br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net<br> investment<br> income<br> (loss)<br> <sup>(2)(3)</sup> | Net<br> assets,<br> end of<br> year or<br> period | Portfolio<br> turnover<br> rate |
| Year or <br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) |
| **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** | **Voya Short Duration High Income Fund (continued)** |
| **Class W** |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 08-08-25-<br> 09-30-25+ | 9.62 | 0.08 | <sup>•</sup> | (0.06) | 0.02 | 0.01 |  |  | 0.01 |  | 9.63 | **1.17** | 0.59 | 0.59 | 0.59 | 5.38 | 4839 | 20 |
| **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** | **Voya Strategic Income Opportunities Fund** |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 09-30-25<sup>+</sup> | 9.27 | 0.23 | <sup>•</sup> | 0.13 | 0.36 | 0.22 |  |  | 0.22 |  | 9.41 | **3.90** | 0.85 | 0.85 | 0.85 | 4.94 | 75913 | 176 |
| 03-31-25 | 9.15 | 0.49 | <sup>•</sup> | 0.12 | 0.61 | 0.49 |  |  | 0.49 |  | 9.27 | **6.77** | 0.85 | 0.85 | 0.85 | 5.32 | 74708 | 283 |
| 03-31-24 | 8.98 | 0.49 | <sup>•</sup> | 0.15 | 0.64 | 0.47 |  |  | 0.47 |  | 9.15 | **7.29** | 0.86 | 0.86 | 0.86 | 5.39 | 62536 | 303 |
| 03-31-23 | 9.59 | 0.35 | <sup>•</sup> | (0.63) | (0.28) | 0.33 |  |  | 0.33 |  | 8.98 | **(2.94)** | 0.85 | 0.85 | 0.85 | 3.81 | 72353 | 110 |
| 03-31-22 | 10.12 | 0.28 | <sup>•</sup> | (0.52) | (0.24) | 0.23 |  | 0.06 | 0.29 |  | 9.59 | **(2.47)** | 0.85 | 0.85 | 0.85 | 2.81 | 104975 | 76 |
| 03-31-21 | 9.12 | 0.32 | <sup>•</sup> | 1.03 | 1.35 | 0.30 |  | 0.05 | 0.35 |  | 10.12 | **14.99** | 0.88 | 0.88 | 0.88 | 3.26 | 147463 | 45 |
| **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** | **Class C** |
| 09-30-25<sup>+</sup> | 9.14 | 0.19 | <sup>•</sup> | 0.12 | 0.31 | 0.18 |  |  | 0.18 |  | 9.27 | **3.42** | 1.60 | 1.60 | 1.60 | 4.20 | 30654 | 176 |
| 03-31-25 | 9.02 | 0.42 | <sup>•</sup> | 0.11 | 0.53 | 0.41 |  |  | 0.41 |  | 9.14 | **5.99** | 1.60 | 1.60 | 1.60 | 4.58 | 30365 | 283 |
| 03-31-24 | 8.84 | 0.41 | <sup>•</sup> | 0.16 | 0.57 | 0.39 |  |  | 0.39 |  | 9.02 | **6.64** | 1.61 | 1.61 | 1.61 | 4.65 | 33296 | 303 |
| 03-31-23 | 9.45 | 0.28 | <sup>•</sup> | (0.64) | (0.36) | 0.25 |  |  | 0.25 |  | 8.84 | **(3.78)** | 1.60 | 1.60 | 1.60 | 3.06 | 36708 | 110 |
| 03-31-22 | 9.97 | 0.20 | <sup>•</sup> | (0.51) | (0.31) | 0.15 |  | 0.06 | 0.21 |  | 9.45 | **(3.18)** | 1.60 | 1.60 | 1.60 | 2.07 | 49839 | 76 |
| 03-31-21 | 8.98 | 0.24 | <sup>•</sup> | 1.02 | 1.26 | 0.22 |  | 0.05 | 0.27 |  | 9.97 | **14.20** | 1.63 | 1.63 | 1.63 | 2.51 | 53646 | 45 |
| **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** | **Class I** |
| 09-30-25<sup>+</sup> | 9.28 | 0.24 | <sup>•</sup> | 0.13 | 0.37 | 0.23 |  |  | 0.23 |  | 9.42 | **4.02** | 0.61 | 0.61 | 0.61 | 5.18 | 1677288 | 176 |
| 03-31-25 | 9.16 | 0.51 | <sup>•</sup> | 0.12 | 0.63 | 0.51 |  |  | 0.51 |  | 9.28 | **7.02** | 0.62 | 0.62 | 0.62 | 5.54 | 1654328 | 283 |
| 03-31-24 | 8.98 | 0.51 | <sup>•</sup> | 0.16 | 0.67 | 0.49 |  |  | 0.49 |  | 9.16 | **7.66** | 0.63 | 0.63 | 0.63 | 5.63 | 1477280 | 303 |
| 03-31-23 | 9.61 | 0.37 | <sup>•</sup> | (0.65) | (0.28) | 0.35 |  |  | 0.35 |  | 8.98 | **(2.84)** | 0.61 | 0.61 | 0.61 | 4.05 | 1546189 | 110 |
| 03-31-22 | 10.15 | 0.31 | <sup>•</sup> | (0.53) | (0.22) | 0.26 |  | 0.06 | 0.32 |  | 9.61 | **(2.22)** | 0.62 | 0.62 | 0.62 | 3.06 | 2096038 | 76 |
| 03-31-21 | 9.15 | 0.34 | <sup>•</sup> | 1.04 | 1.38 | 0.33 |  | 0.05 | 0.38 |  | 10.15 | **15.35** | 0.63 | 0.63 | 0.63 | 3.51 | 2029154 | 45 |
| **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** | **Class R** |
| 09-30-25<sup>+</sup> | 9.20 | 0.22 | <sup>•</sup> | 0.12 | 0.34 | 0.20 |  |  | 0.20 |  | 9.34 | **3.78** | 1.10 | 1.10 | 1.10 | 4.70 | 15368 | 176 |
| 03-31-25 | 9.08 | 0.46 | <sup>•</sup> | 0.12 | 0.58 | 0.46 |  |  | 0.46 |  | 9.20 | **6.51** | 1.10 | 1.10 | 1.10 | 5.07 | 15010 | 283 |
| 03-31-24 | 8.90 | 0.46 | <sup>•</sup> | 0.16 | 0.62 | 0.44 |  |  | 0.44 |  | 9.08 | **7.16** | 1.11 | 1.11 | 1.11 | 5.15 | 16377 | 303 |
| 03-31-23 | 9.51 | 0.33 | <sup>•</sup> | (0.64) | (0.31) | 0.30 |  |  | 0.30 |  | 8.90 | **(3.25)** | 1.10 | 1.10 | 1.10 | 3.59 | 18607 | 110 |
| 03-31-22 | 10.04 | 0.26 | <sup>•</sup> | (0.53) | (0.27) | 0.20 |  | 0.06 | 0.26 |  | 9.51 | **(2.76)** | 1.10 | 1.10 | 1.10 | 2.58 | 20854 | 76 |
| 03-31-21 | 9.04 | 0.29 | <sup>•</sup> | 1.03 | 1.32 | 0.27 |  | 0.05 | 0.32 |  | 10.04 | **14.81** | 1.13 | 1.13 | 1.13 | 3.00 | 22403 | 45 |
| **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** | **Class R6** |
| 09-30-25<sup>+</sup> | 9.25 | 0.25 | <sup>•</sup> | 0.12 | 0.37 | 0.23 |  |  | 0.23 |  | 9.39 | **4.06** | 0.54 | 0.54 | 0.54 | 5.25 | 326346 | 176 |
| 03-31-25 | 9.13 | 0.52 | <sup>•</sup> | 0.11 | 0.63 | 0.51 |  |  | 0.51 |  | 9.25 | **7.10** | 0.55 | 0.55 | 0.55 | 5.60 | 312091 | 283 |
| 03-31-24 | 8.96 | 0.52 | <sup>•</sup> | 0.14 | 0.66 | 0.49 |  |  | 0.49 |  | 9.13 | **7.63** | 0.56 | 0.56 | 0.56 | 5.72 | 243077 | 303 |
| 03-31-23 | 9.58 | 0.38 | <sup>•</sup> | (0.64) | (0.26) | 0.36 |  |  | 0.36 |  | 8.96 | **(2.69)** | 0.54 | 0.54 | 0.54 | 4.19 | 167243 | 110 |
| 03-31-22 | 10.12 | 0.31 | <sup>•</sup> | (0.52) | (0.21) | 0.27 |  | 0.06 | 0.33 |  | 9.58 | **(2.17)** | 0.54 | 0.54 | 0.54 | 3.14 | 159175 | 76 |
| 03-31-21 | 9.12 | 0.35 | <sup>•</sup> | 1.04 | 1.39 | 0.34 |  | 0.05 | 0.39 |  | 10.12 | **15.46** | 0.57 | 0.57 | 0.57 | 3.59 | 154515 | 45 |
| **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** | **Class W** |
| 09-30-25<sup>+</sup> | 9.25 | 0.24 | <sup>•</sup> | 0.13 | 0.37 | 0.23 |  |  | 0.23 |  | 9.39 | **4.03** | 0.60 | 0.60 | 0.60 | 5.20 | 16315 | 176 |
| 03-31-25 | 9.13 | 0.51 | <sup>•</sup> | 0.12 | 0.63 | 0.51 |  |  | 0.51 |  | 9.25 | **7.04** | 0.60 | 0.60 | 0.60 | 5.58 | 16924 | 283 |
| 03-31-24 | 8.95 | 0.51 | <sup>•</sup> | 0.16 | 0.67 | 0.49 |  |  | 0.49 |  | 9.13 | **7.68** | 0.61 | 0.61 | 0.61 | 5.64 | 16672 | 303 |
| 03-31-23 | 9.57 | 0.37 | <sup>•</sup> | (0.64) | (0.27) | 0.35 |  |  | 0.35 |  | 8.95 | **(2.83)** | 0.60 | 0.60 | 0.60 | 3.99 | 18980 | 110 |
| 03-31-22 | 10.10 | 0.31 | <sup>•</sup> | (0.53) | (0.22) | 0.25 |  | 0.06 | 0.31 |  | 9.57 | **(2.24)** | 0.60 | 0.60 | 0.60 | 3.06 | 36224 | 76 |
| 03-31-21 | 9.09 | 0.34 | <sup>•</sup> | 1.04 | 1.38 | 0.32 |  | 0.05 | 0.37 |  | 10.10 | **15.42** | 0.63 | 0.63 | 0.63 | 3.53 | 48958 | 45 |

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See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

------

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| | |
|:---|:---|
| <sup>+</sup> | Unaudited. |
| <sup>(1)</sup> | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and excluding the deduction of sales charges or contingent deferred sales charges, if applicable. Total return for periods less than one year is not annualized. |
| <sup>(2)</sup> | Annualized for periods less than one year. |
| <sup>(3)</sup> | Ratios reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of all such additions or reductions. |
| <sup>(4)</sup> | Commencement of operations. |
| <sup>•</sup> | Calculated using average number of shares outstanding throughout the year or period. |
| <sup>\*</sup> | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
| <sup>††</sup> | The Fund's use of treasury securities and "to be announced" (TBA) securities contribute significantly to the portfolio turnover rate. Excluding all purchase and sale transactions involving treasury securities and TBAs, the Fund's portfolio turnover rate was 17% for the period ended September 30, 2025 and 47%, 45%, 36%, 33%, and 39% for the fiscal years ended March 31, 2025, 2024, 2023, 2022, and 2021, respectively. The Fund's strategies involving treasury securities and TBA securities are employed to increase liquidity and to manage interest rate risk while not changing the economic exposure to treasury and mortgage backed securities. The Fund invests in treasury securities and may purchase and sell treasury securities to manage the duration of the Fund and for hedging purposes when selling or buying corporate bonds. In addition, the Fund commonly employs an investment strategy involving the purchase of the most recently issued treasury security with a particular time to maturity while selling its position in a previously issued treasury security with a substantially similar time to maturity. This strategy is employed in order for the Fund to own the most liquid treasury security available for a given time to maturity. The Fund also invests in TBA securities whereby the actual identity of the securities to be delivered at settlement is not specified, but rather the general characteristics of the securities are agreed to (i.e. issuer, mortgage type, maturity, coupon and month of settlement). The Fund may engage in rolling strategies with TBAs whereby the Fund seeks to extend the expiration or maturity of a TBA position by closing out the position before expiration and simultaneously opening a new position that has substantially similar terms except for a later expiration date. Such rolls enable the Fund to maintain continuous investment exposure to an underlying asset beyond the expiration of the initial position without delivery of the underlying asset. |

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See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited)

**NOTE 1 — ORGANIZATION**

Voya Funds Trust (the "Trust") is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended ("1940 Act"). The Trust was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for: Voya GNMA Income Fund ("GNMA Income"), Voya High Yield Bond Fund ("High Yield Bond"), Voya Intermediate Bond Fund ("Intermediate Bond"), Voya Short Duration Bond Fund ("Short Duration Bond"), Voya Short Duration High Income Fund ("Short Duration High Income") and Voya Strategic Income Opportunities Fund ("Strategic Income Opportunities") (each, a "Fund" and collectively, the "Funds"). Each Fund is a diversified series of the Trust.

Each Fund offers at least three or more of the following classes of shares: Class A, Class C, Class I, Class R, Class R6 and Class W. The separate classes of shares differ principally in the applicable sales charges (if any), transfer agent fees, distribution fees and shareholder servicing fees, as well as differences in the amount of waiver fees and reimbursement of expenses, if any. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a fund and earn income and realized gains/ losses from a fund pro rata based on the daily ending net assets of each class, without discrimination between share classes. Expenses that are specific to a fund or a class are charged directly to that fund or class. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets. Dividends are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of the distribution. Differences in per share dividend rates generally result from the differences in separate class expenses, including distribution, and shareholder servicing fees, if applicable, as well as differences in the amount of waiver of fees and reimbursement of expenses between the share classes, if any.

Class C shares, along with their pro rata reinvested dividend shares, automatically convert to Class A shares 8 years after purchase.

Voya Investments, LLC ("Voya Investments" or the "Investment Adviser"), an Arizona limited liability company, serves as the Investment Adviser to the Funds. Voya Investment Management Co. LLC ("Voya IM"), a Delaware limited liability company, serves as the sub-adviser to the Funds. Voya Investments Distributor, LLC ("VID" or the

"Distributor"), a Delaware limited liability company, serves as the principal underwriter to the Funds.

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES**

The Funds are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.

The following significant accounting policies are consistently followed by the Funds in the preparation of their financial statements. Each Fund is considered an investment company under U.S. generally accepted accounting principles ("GAAP") and follows the accounting and reporting guidance applicable to investment companies.

A. ***Security Valuation***. Each Fund is open for business every day the New York Stock Exchange ("NYSE") opens for regular trading (each such day, a "Business Day"). The net asset value ("NAV") per share for each class of each Fund is determined each Business Day as of the close of the regular trading session ("Market Close"), as determined by the Consolidated Tape Association ("CTA"), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each class of each Fund is calculated by taking the value of the Fund's assets attributable to that class, subtracting the Fund's liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Fund is closed for business, Fund shares will not be priced and a Fund does not transact purchase and redemption orders. To the extent a Fund's assets are traded in other markets on days when a Fund does not price its shares, the value of a Fund's assets will likely change and you will not be able to purchase or redeem shares of a Fund.

Portfolio securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered investment companies in which each Fund may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Foreign securities' prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close.

When a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been halted or there are unexpected market closures or other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of other Fund assets, the asset is priced at its fair

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

value. The Board has designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of each Fund's assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Fund's sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of an asset's fair value. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent pricing service that are intended to reflect valuation changes through the NYSE close. Because of the inherent uncertainties of fair valuation, the values used to determine each Fund's NAV may materially differ from the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders' investments in each Fund.

The Funds' financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 — quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date.

Level 2 — inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).

Level 3 — unobservable inputs (including the fund's own assumptions in determining fair value).

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants

would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

A table summarizing each Fund's investments under these levels of classification is included within each Portfolio of Investments.

Each investment asset or liability of the Funds is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as "Level 1", inputs other than quoted prices for an asset or liability that are observable are classified as "Level 2" and significant unobservable inputs, including each sub-adviser's or Pricing Committee's judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as "Level 3". The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing each Fund's investments under these levels of classification is included within the Portfolio of Investments.

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Fund has a significant amount of Level 3 investments.

B. ***Securities Transactions and Revenue Recognition.*** Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date, or for certain foreign securities, when the information becomes available to the Funds. Premium amortization and discount accretion are determined by the effective yield method.

C. ***Foreign Currency Translation.*** The books and records of the Funds are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Market value of investment securities,
other assets and liabilities — at the exchange rates prevailing at Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Purchases and sales of investment
securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets and the market values are presented at the foreign exchange rates at Market Close, the Funds do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments. For securities that are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities' current market values. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds' books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities. The foregoing risks are even greater with respect to securities of issuers in emerging markets.

D. ***Risk Exposures and the Use of Derivative Instruments.*** The Funds' investment objectives permit them to enter into various types of derivatives contracts, including, but not limited to, forward foreign currency exchange contracts, futures, purchased options, written options, and swaps. In doing so, the Funds will employ strategies in differing combinations to permit them to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow the Funds

to pursue their objectives more quickly, and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.

In pursuit of their investment objectives, the Funds may seek to increase or decrease their exposure to the following market or credit risk factors:

***Credit Risk.*** The price of a bond or other debt instrument is likely to fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay its financial obligations altogether.

***Equity Risk.*** Stock prices may be volatile or have reduced liquidity in response to real or perceived impacts of factors including, but not limited to, economic conditions, changes in market interest rates, and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Fund to achieve its investment objectives.

***Foreign Exchange Rate Risk.*** To the extent that a Fund invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged by a Fund through foreign currency exchange transactions.

Currency rates may fluctuate significantly over short periods of time. Currency rates may be affected by changes in market interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, by the imposition of currency controls, or other political or economic developments in the United States or abroad.

***Interest Rate Risk.*** A rise in market interest rates generally results in a fall in the value of bonds and other debt instruments; conversely, values generally rise as market interest rates fall. Interest rate risk is generally greater for debt instruments than floating-rate instruments. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is to changes in

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

market interest rates. Duration is a measure of sensitivity of the price of a debt instrument to a change in interest rate. The U.S. Federal Reserve Board recently lowered interest rates following a period of consistent rate increases. Declining market interest rates increase the likelihood that debt instruments will be pre-paid. Rising market interest rates have unpredictable effects on the markets and may expose debt and related markets to heightened volatility. To the extent that a mutual fund invests in debt instruments, an increase in market interest rates may lead to increased redemptions and increased portfolio turnover, which could reduce liquidity for certain investments, adversely affect values, and increase costs. Increased redemptions may cause a mutual fund to liquidate portfolio positions when it may not be advantageous to do so and may lower returns. If dealer capacity in debt markets is insufficient for market conditions, it may further inhibit liquidity and increase volatility in debt markets. Fiscal, economic, monetary, or other governmental policies or measures have in the past, and may in the future, cause or exacerbate risks associated with interest rates, including changes in interest rates. Negative or very low interest rates could magnify the risks associated with changes in interest rates. In general, changing interest rates, including rates that fall below zero, could have unpredictable effects on markets and may expose debt and related markets to heightened volatility. Changes to monetary policy by the U.S. Federal Reserve Board or other regulatory actions could expose debt and related markets to heightened volatility, interest rate sensitivity, and reduced liquidity, which may impact operations and return potential.

***Risks of Investing in Derivatives.*** The Funds' use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where the Funds are using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Fund, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.

Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Fund. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Fund and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Fund may not realize the intended benefits.

When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Fund to the risk of improper valuation.

Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated OTC with a single counterparty and as a result are subject to credit risks related to the counterparty's ability or willingness to perform its obligations; any deterioration in the counterparty's creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Fund to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market's movements and may have unexpected or undesired results such as a loss or a reduction in gains.

***Counterparty Credit Risk and Credit Related Contingent Features.*** Certain derivative positions are subject to counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Funds. The Funds' derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. The Funds intend to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, the Funds generally enter into master netting arrangements, established within the Funds' International Swaps and Derivatives Association, Inc. ("ISDA") Master Agreements ("Master Agreements"). These agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by the Funds and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.

The Funds may also enter into collateral agreements with certain counterparties to further mitigate credit risk

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

associated with OTC derivative and forward foreign currency contracts. Subject to established minimum levels, collateral is generally determined based on the net aggregate unrealized gain or loss on contracts with a certain counterparty. Collateral pledged to or from the Funds is held in a segregated account by a third-party agent and can be in the form of cash or debt securities issued by the U.S. government or related agencies.

At September 30, 2025, the maximum amount of loss that Intermediate Bond and Strategic Income Opportunities would incur if their relevant counterparties failed to perform would be $5,188,125 and $8,896,350, respectively, which represents the gross payments to be received by the Funds on OTC purchased options, forward premium swaptions, open forward foreign currency contracts, OTC total return swaps and OTC volatility swaps were they to be unwound as of September 30, 2025. To reduce the amount of potential loss to Intermediate Bond and Strategic Income Opportunities, the Funds received $2,380,000 and $5,770,000, respectively, in cash collateral from certain counterparties at September 30, 2025.

The Funds' Master Agreements with derivative counterparties have credit related contingent features that if triggered would allow their derivatives counterparties to close out and demand payment or additional collateral to cover their exposure from the Funds. Credit related contingent features are established between the Funds and their derivatives counterparties to reduce the risk that the Funds will not fulfill their payment obligations to their counterparties. These triggering features include, but are not limited to, a percentage decrease in the Funds' net assets and or a percentage decrease in the Funds' NAV, which could cause the Funds to accelerate payment of any net liability owed to the counterparty. The contingent features are established within the Funds' Master Agreements.

As of September 30, 2025, Intermediate Bond and Strategic Income Opportunities had a liability position of $19,404,710 and $8,693,954, respectively, on open forward foreign currency contracts, forward premium swaptions, OTC written options and OTC volatility swaps. If a contingent feature would have been triggered as of September 30, 2025, the Funds could have been required to pay this amount in cash to their counterparties. At September 30, 2025, Intermediate Bond and Strategic Income Opportunities had pledged $16,540,000 and $5,420,000, respectively, in cash collateral to certain counterparties for open OTC derivatives.

E. ***Forward Foreign Currency Transactions and Futures Contracts.*** Certain Funds may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. The Funds either enter into these transactions on a spot basis at the spot rate prevailing in the foreign currency exchange market or use forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar.

For the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities entered into forward foreign currency contracts with the obligation to buy and sell specified foreign currencies in the future at a currently negotiated forward rate in order to increase or decrease exposure to foreign exchange rate risk. The Funds used forward foreign currency contracts primarily to protect any non-U.S. dollar-denominated holdings from adverse currency movements.

During the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had average contract amounts on forward foreign currency contracts to buy and sell as disclosed below. Please refer to the tables within the Portfolio of Investments for open forward foreign currency contracts at September 30, 2025.

---

| | | |
|:---|:---|:---|
|  | **Buy** | **Sell** |
| Intermediate Bond | $2666317 | $146307190 |
| Strategic Income Opportunities | 38423442 | 110002228 |

---

Each Fund may enter into futures contracts involving foreign currency, interest rates, securities and securities indices. Each Fund intends to limit its use of futures contracts and futures options to "bona fide hedging" transactions, as such term is defined in applicable regulations, interpretations and practice. A futures contract obligates the seller of the contract to deliver and the purchaser of the contract to take delivery of the type of foreign currency, financial instrument or security called for in the contract at a specified future time for a specified price.

Upon entering into a futures contract, the Funds are required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Funds each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses and, if any, shown as variation margin receivable or payable on

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

futures contracts on the Statement of Assets and Liabilities. Open futures contracts, if any, are reported on a table within each Fund's Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements, if any, on open futures contracts are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in the each Fund's Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the each Fund's Statement of Operations. Realized gains (losses) are reported in the each Fund's Statement of Operations at the closing or expiration of futures contracts.

Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the period ended September 30, 2025, GNMA Income, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities have purchased and sold futures contracts on various bonds and notes to manage duration and yield curve exposure. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where a Fund is unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of the Fund's securities. With futures, there is minimal counterparty credit risk to a Fund since futures are exchange traded and the exchange's clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

During the period ended September 30, 2025, the following Funds had an average notional value on futures contracts purchased and sold as disclosed below. Please refer to the tables within each respective Portfolio of Investments for open futures contracts at September 30, 2025.

---

| | | |
|:---|:---|:---|
|  | **Purchased** | **Sold** |
| GNMA Income | $63809809 | $&nbsp;&nbsp;&nbsp;&nbsp;283866680 |
| Intermediate Bond | 1604401714 | 184685557 |
| Short Duration Bond | 241247495 | 46109172 |
| Strategic Income Opportunities | 326603171 | 289417529 |

---

F. ***Distributions to Shareholders.*** The Funds record distributions to their shareholders on the ex-dividend date. Each Fund distributes capital gains, if any, annually. All Funds declare dividends daily and pay dividends monthly. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.

G. ***Federal Income Taxes.*** It is the policy of each Fund to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a U.S. federal income tax or excise tax provision is not required. Management has considered the sustainability of the Funds' tax positions taken on U.S. federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.

The Funds may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

H. ***Use of Estimates.*** The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

I. ***Repurchase Agreements.*** Each Fund may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is generally short, from possibly overnight to one week, (although it may extend over a number of months) while the underlying securities generally have longer maturities. Each Fund will receive as collateral securities acceptable to it whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by a Fund. The underlying collateral is valued daily on a mark to market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to a Fund in the event a Fund is delayed or prevented from exercising its right to dispose of the collateral, and it may incur disposition costs in liquidating the collateral.

J. ***Securities Lending.*** Each Fund has the option to temporarily loan up to 33 1∕3% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender's fee. Securities lending involves two primary risks: "investment risk" and "borrower default risk." When lending securities, the Funds will receive cash or U.S. government securities as collateral. Investment risk is

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

the risk that the Funds will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Funds will lose money due to the failure of a borrower to return a borrowed security. Loans are subject to termination at the option of the borrower or the Funds. Securities lending may result in leverage. The use of leverage may exaggerate any increase or decrease in the NAV, causing the Funds to be more volatile. The use of leverage may increase expenses and increase the impact of the Funds' other risks.

K. ***Restricted Securities.*** Each Fund may invest in restricted securities which include those sold under Rule 144A of the Securities Act of 1933, as amended ("1933 Act") ("Rule 144A") or securities offered pursuant to Section 4(a)(2) of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

Securities that are legally restricted as to resale (such as those issued in private placements), including securities governed by Rule 144A and Regulation S under the 1933 Act, and securities that are offered in reliance on Section 4(a)(2) of the 1933 Act are referred to as "restricted securities." Restricted securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed on an exchange nor traded in other established markets. Due to the absence of a public trading market, restricted securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.

L. ***Delayed-Delivery or When-Issued Transactions.*** The Funds may purchase or sell securities on a when-issued or a delayed-delivery basis. Each Fund may enter into forward commitments. The price of the underlying securities and date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The market value of such is identified in the Funds' Portfolio of investments. Losses may arise due to changes in the market value of the

securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Funds are required to segregate liquid assets with the Funds' custodian sufficient to cover the purchase price.

To mitigate counterparty risk, the Funds have entered into Master Securities Forward Transaction Agreements ("MSFTA") with their respective counterparties that provide or collateral and the right to offset amounts due to or from those counterparties under specified conditions. Subject to minimum transfer amounts, collateral requirements are determined and transfers made based on the net aggregate unrealized gain or loss on all the when-issued or delayed-delivery transactions with a particular counterparty. Cash collateral, if any, is presented on the Statement of Assets and Liabilities as an asset (Cash pledged as collateral for delayed-delivery or when-issued securities) and a liability (Cash received as collateral for delayed-delivery or when-issued securities).

At September 30, 2025, GNMA Income had pledged $779,926 to certain counterparties. In addition, GNMA Income and Intermediate Bond had received $279,343 and $244,360, respectively, in cash collateral from certain counterparties for open delayed-delivery or when-issued transactions.

M. ***Mortgage Dollar Roll Transactions.*** Each Fund may engage in dollar roll transactions with respect to mortgage-backed securities issued or to be issued by Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corp. In a dollar roll transaction, a Fund sells a mortgage-backed security to a financial institution, such as a bank or broker/ dealer, and simultaneously agrees to repurchase a substantially similar (i.e., same type, coupon, and maturity) security from the institution on a delayed delivery basis at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different prepayment histories. The Funds account for dollar roll transactions as purchases and sales.

N. ***Options Contracts.*** The Funds may write call and put options on futures, swap options ("swaptions"), securities, commodity or currencies they own or in which they may invest. Writing put options tends to increase the Funds exposure to the underlying instrument. Writing call options tends to decrease the Funds exposure to the underlying instrument. When a Fund writes a call or put option, an amount equal to the premium received is recorded as a liability and subsequently marked to market to reflect the current value of the option written. These liabilities are reflected as written options outstanding on the Statements of Assets and Liabilities. Certain options may be written with premiums to be determined on a future date. Forward

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

premium swaptions include premiums that have extended settlement dates. The delayed settlement of the premiums is factored into the daily valuation of the option contracts. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying futures, swap, security or currency transaction to determine the realized gain or loss. Each Fund as a writer of an option has no control over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk the Funds may not be able to enter into a closing transaction because of an illiquid market.

The Funds may also purchase put and call options. Purchasing call options tends to increase the Funds' exposure to the underlying instrument. Purchasing put options tends to decrease the Funds' exposure to the underlying instrument. The Funds pay a premium which is included on the Statements of Assets and Liabilities as an investment and subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss.

During the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had purchased interest rate swaptions to generate income with an average notional value of $120,453,327 and $51,994,640, respectively. Please refer to the tables within the Portfolio of Investments for open purchased interest rate swaptions contracts for Intermediate Bond and Strategic Income Opportunities at September 30, 2025.

During the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had written interest rate swaptions to generate income with an average notional value of $188,011,914 and $81,408,158, respectively. Please refer to the tables within the Portfolio of Investments for open written interest rate swaptions for any Fund at September 30, 2025.

During the period ended September 30, 2025, Strategic Income Opportunities had purchased foreign currency

options to manage its foreign exchange exposure with an average notional value of $8,067,667. Please refer to the tables within the Portfolio of Investments for open purchased options on foreign currencies for Strategic Income Opportunities at September 30, 2025.

During the period ended September 30, 2025, Strategic Income Opportunities had written foreign currency options to generate income with an average notional value of $35,376,000. Please refer to the table within the Portfolio of Investments for open written options on foreign currency contracts for Strategic Income Opportunities at September 30, 2025.

During the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had purchased forward premium swaptions with average notional values of $628,374,403 and $232,689,136, respectively, to manage duration and yield curve exposures. Please refer to the tables within the Portfolio of Investments for open purchased forward premium swaptions for Intermediate Bond and Strategic Income Opportunities at September 30, 2025.

During the period ended September 30, 2025***,*** Intermediate Bond and Strategic Income Opportunities had written forward premium swaptions with average notional values of $2,640,785,038 and $1,050,916,510, respectively, to generate income. Please refer to the tables within the Portfolio of Investments for open written forward premium swaptions for Intermediate Bond and Strategic Income Opportunities at September 30, 2025*.***

During the period ended September 30, 2025, Strategic Income Opportunities had purchased credit default swaptions to manage its credit exposure with an average notional value of $41,893,00. Please refer to the table within the Portfolio of Investments for open purchased credit default swaptions for Strategic Income Opportunities at September 30, 2025.

During the period ended September 30, 2025, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had written credit default swaptions to generate income with an average notional value of $191,730,467, $10,211,167 and $121,962,988, respectively. Please refer to the tables within the Portfolio of Investments for open written credit default swaptions for Intermediate Bond, Short Duration Bond and Strategic Income Opportunities at September 30, 2025.

O. ***Swap Agreements.*** Certain Funds may enter into swap agreements. A swap is an agreement between two parties pursuant to which each party agrees to make one or more payments to the other at specified future intervals based on the return of an asset (such as a stock, bond or currency) or non-asset reference (such as an interest rate or index). The

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

swap agreement will specify the "notional" amount of the asset or non-asset reference to which the contract relates. Subsequent changes in fair value, if any, are calculated based upon changes in the performance of the asset or non-asset reference multiplied by the notional value of the contract. A Fund may enter into credit default, interest rate, total return and currency swaps to manage its exposure to credit, currency and interest rate risk. All outstanding swap agreements are reported within each Fund's Portfolio of Investments.

Swaps are marked to market daily using quotations primarily from third party pricing services, counterparties or brokers. The fair value of the swap contract is recorded on each Fund's Statement of Assets and Liabilities. During the term of the swap, changes in the fair value of the swap, if any, are recorded as unrealized gains or losses on the Statement of Operations. Upfront payments paid or received by a Fund when entering into the agreements are reported on the Statement of Assets and Liabilities and as a component of the changes in unrealized gains or losses on the Statement of Operations. These upfront payments represent the amounts paid or received when initially entering into the swap agreement to compensate for differences between the stated terms of the swap agreement and the prevailing market conditions. The upfront payments are included as a component in the realized gains or losses on each Fund's Statement of Operations upon termination or maturity of the swap. A Fund also records net periodic payments paid or received on the swap contract as a realized gain or loss on the Statement of Operations.

Entering into swap agreements involves the risk that the maximum potential loss of an investment exceeds the current value of the investment as reported on each Fund's Statement of Assets and Liabilities. Other risks involve the possibility that the counterparty to the agreements may default on its obligation to perform, that there will be no liquid market for these investments and that unfavorable changes in the market will have a negative impact on the value of the index or securities underlying the respective swap agreement.

***Credit Default Swap Contracts.*** A credit default swap is a bilateral agreement between counterparties in which the buyer of the protection agrees to make a stream of periodic payments to the seller of protection in exchange for the right to receive a specified return in the event of a default or other credit event for a referenced entity, obligation or index. As a seller of protection on credit default swaps, a Fund will generally receive from the buyer a fixed payment stream based on the notional amount of the swap contract.

This fixed payment stream will continue until the swap contract expires or a defined credit event occurs.

A Fund is subject to credit risk in the normal course of pursuing its investment objectives. As a seller of protection in a credit default swap, a Fund may execute these contracts to manage its exposure to the market or certain sectors of the market. A Fund may also enter into credit default swaps to speculate on changes in an issuer's credit quality, to take advantage of perceived spread advantages, or to offset an existing short equivalent (i.e. buying protection on an equivalent reference entity).

Certain Funds may sell credit default swaps which expose these Funds to the risk of loss from credit risk-related events specified in the contract. Although contract specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default or repudiation/moratorium. If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues are disclosed in each Fund's Portfolio of Investments and serve as an indicator of the current status of the payment/ performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/ selling protection and may include upfront payments

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

required to be made to enter into the agreement. For credit default swaps on asset-backed securities or credit indices, the quoted market prices and resulting fair values serve as the indicator of the current status of the payment/ performance risk. Wider credit spreads and increasing fair values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

The maximum amount of future payments (undiscounted) that a Fund as seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. Notional amounts of all credit default swap agreements outstanding as of September 30, 2025, if any, for which a Fund is seller of protection, are disclosed in each Fund's Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreements, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Fund for the same referenced entity or entities.

For the period ended September 30, 2025, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had bought credit protection on credit default swap indices ("CDX"). A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. The Funds enter into CDX swap contracts to hedge the credit risk associated within various sectors with the credit markets.

During the period ended period, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had average notional values on credit default swaps to buy protection of $474,550,000, $19,342,000 and $85,600,000, respectively.

There were no open credit default swaps to buy protection for any Fund at September 30, 2025.

For the period ended September 30, 2025, High Yield Bond, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had sold credit protection on credit default swap indices ("CDX"). A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. The Funds enter into CDX swap contracts to gain additional exposure associated with various sectors within the credit markets.

During the period ended September 30, 2025, High Yield Bond, Intermediate Bond, Short Duration Bond and

Strategic Income Opportunities had average notional values on credit default swaps to sell protection of $14,000,000, $98,941,000, $5,950,000 and $62,706,000, respectively.

Please refer to the tables within the Portfolio of Investments for open credit default swaps to sell protection for Intermediate Bond and Strategic Income Opportunities at September 30, 2025. There were no open credit default swaps to sell protection for High Yield Bond and Short Duration Bond at September 30, 2025.

***Interest Rate Swap Agreements.*** An interest rate swap involves the agreement between counterparties to exchange periodic payments based on interest rates. One payment will be based on a floating rate of a specified interest rate while the other will be a fixed rate. Risks involve the future fluctuations of interest rates in which a Fund may make payments that are greater than what a Fund received from the counterparty. Other risks include credit, liquidity and market risk.

For the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had entered into interest rate swaps in which they pay a floating interest rate and receive a fixed interest rate ("Long interest rate swap") in order to increase exposure to interest rate risk. The average notional amount on long interest rate swaps for Intermediate Bond and Strategic Income Opportunities was $45,486,376 and $24,627,096, respectively.

For the period ended September 30, 2025, Intermediate Bond and Strategic Income Opportunities had entered into interest rate swaps in which they pay a fixed interest rate and receive a floating interest rate ("Short interest rate swap") in order to decrease exposure to interest rate risk. The average notional amount on short interest rate swaps for Intermediate Bond and Strategic Income Opportunities was $83,923,391 and $62,325,873, respectively.

Please refer to the tables within the Portfolio of Investments for Intermediate Bond and Strategic Income Opportunities for open centrally cleared interest rate swaps at September 30, 2025.

At September 30, 2025, Intermediate Bond and Strategic Income Opportunities had pledged $7,000,000 and $6,946,846, respectively, as cash collateral for open centrally cleared swaps.

***Cross-Currency Swaps.*** Certain Funds may enter into cross-currency swaps. Cross-currency swaps are interest rate swaps in which interest cash flows are exchanged between two parties based on the notional amounts of two different currencies. The notional amounts are typically determined based on the spot exchange rates at the inception of the trade. Cross-currency swaps also involve the exchange of the notional amounts at the start of the contract at the current spot rate with an agreement to re-exchange such

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

amounts at a later date at either the same exchange rate, a specified rate or the then current spot rate. The entire principal value of a cross-currency swap is subject to the risk that the counterparty to the swap will default on its contractual delivery obligations.

There were no open cross-currency swaps entered into by any Fund during the period ended September 30, 2025.

***Volatility Swap Contracts.*** Certain Funds may enter into volatility swaps. Volatility swaps are agreements in which the counterparties agree to make payments in connection with changes in the volatility (i.e., the magnitude of change over a specified period of time) of an underlying referenced instrument, such as a currency, rate, index, security or other financial instrument. Volatility swaps permit the parties to attempt to hedge volatility risk and/or take positions on the projected future volatility of an underlying referenced instrument. As a receiver of the realized price volatility, the Portfolio would receive the payoff amount when the realized price volatility of the referenced instrument is greater than the strike and would owe the payoff amount when the volatility is less than the strike. As a payer of the realized price volatility, the Portfolio would owe the payoff amount when the realized price volatility of the referenced instrument is greater than the strike and would receive the payoff amount when the volatility is less than the strike.

For the period ended September 30, 2025, Strategic Income Opportunities had an average notional amount of $36,444,000 and $75,056,167 on foreign currency receiver and payer volatility swaps, respectively. Please refer to the table within the Portfolio of Investments for Strategic Income Opportunities for open foreign currency volatility swaps at September 30, 2025.

***Total Return Swap Contracts.*** Certain Funds may enter into total return swaps. Total return swaps are entered into to gain or mitigate exposure to the underlying reference asset. Total return swap agreements involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset and on a fixed or variable interest rate. Total return swap agreements may involve commitments to pay interest in exchange for a market-linked return. One counterparty pays out the total return of a specific underlying reference asset, which may include a single security, a basket of securities, or an index, and in return receives a fixed or variable rate. At the maturity date, a net cash flow is exchanged where the total return is equivalent to the return of the underlying reference asset less a financing rate, if any. As a receiver, a Fund would receive payments based on any net positive total return and would owe payments in the event of a net negative total return. As the payer, a Fund would owe payments on

any net positive total return, and would receive payments in the event of a net negative total return. A Fund's use of a total return swap exposes the Portfolio to credit loss in the event of nonperformance by the swap counterparty. Risk may also arise from the unanticipated movements in value of exchange rates, interest rates, securities, or the index.

For the period ended September 30, 2025, Strategic Income Opportunities had an average notional amount of $122,000,000 on receiver total return swaps. Please refer to the table within the Portfolio of Investments for Strategic Income Opportunities for open receiver total return swaps at September 30, 2025.

P. ***Indemnifications.*** In the normal course of business, the Trust may enter into contracts that provide certain indemnifications. The Trust's maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.

**NOTE 3 — INVESTMENT TRANSACTIONS**

For the period ended September 30, 2025, the cost of purchases and the proceeds from the sales of securities excluding short-term and U.S. government securities, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| GNMA Income | $630867 | $912982 |
| High Yield Bond | 350172685 | 455396151 |
| Intermediate Bond | 1412223925 | 1417551120 |
| Short Duration Bond | 177218779 | 329712417 |
| Short Duration High Income | 42726608 | 137346707 |
| Strategic Income Opportunities | 869565056 | 855090478 |

---

U.S. government securities not included above were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| GNMA Income | $3248616737 | $3301280016 |
| Intermediate Bond | 5677434997 | 6008851345 |
| Short Duration Bond | 382594134 | 457887076 |
| Strategic Income Opportunities | 2746281313 | 2745968993 |

---

**NOTE 4 — INVESTMENT MANAGEMENT FEES**

The Funds have entered into an investment management agreement ("Management Agreement") with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Funds. The Investment Adviser oversees all investment advisory and portfolio management services for the Funds and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 4 — INVESTMENT MANAGEMENT FEES (continued)**

Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Fund, at the following annual rates:

---

| | |
|:---|:---|
| **Fund** | **Fees** |
| GNMA Income | 0.45% on the first $1 billion, |
|  | 0.43% on the next $500 million and |
|  | 0.41% on assets thereafter |
| High Yield Bond | 0.61% on the first $500 million, |
|  | 0.55% on the next $4.5 billion and |
|  | 0.50% on assets thereafter |
| Intermediate Bond | 0.27% on all assets |
| Short Duration Bond | 0.25% on all assets |
| Short Duration High Income | 0.48% on all assets |
| Strategic Income Opportunities | 0.50% on all assets |

---

The Investment Adviser of High Yield Bond has agreed to waive 0.05% of the management fee through August 1, 2026. Any fees waived or reimbursed in relation to this waiver are not eligible for recoupment. Termination or modification of this waiver requires approval by the Board.

The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Fund. Voya IM provides investment advice for the Funds and is paid by the Investment Adviser based on the average daily net assets of each respective Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages each Funds' assets in accordance with each Funds' investment objectives, policies, and limitations.

**NOTE 5 — DISTRIBUTION AND SERVICE FEES**

Class A, Class C and Class R of the respective Funds each has a distribution and/or service and distribution plan (the "Plan"), whereby the Distributor is compensated by certain of the Funds for expenses incurred in the distribution and/or shareholder servicing of each Fund's shares ("Distribution and/or Service Fees"). Pursuant to the Plan, the Distributor is entitled to payment each month for expenses incurred in the distribution and promotion of certain of each Fund's shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any Distribution and/or Service Fees paid to securities dealers who have executed a distribution agreement with the Distributor. In addition, High Yield Bond, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities have a shareholder service plan for Class A and Class C shares

(together with the Plan referenced above, the "Plans"). Under the Plans, each class of shares of each Fund pays the Distributor a Distribution and/or Service Fee based on average daily net assets at the following annual rates:

---

| | | | |
|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class R** |
| GNMA Income | 0.25% | 1.00% | N/A |
| High Yield Bond | 0.25% | 1.00% | 0.50% |
| Intermediate Bond | 0.25% | 1.00% | 0.50% |
| Short Duration Bond | 0.25% | 1.00% | 0.50% |
| Short Duration High Income | 0.25% | 1.00% | N/A |
| Strategic Income Opportunities | 0.25% | 1.00% | 0.50% |

---

The Distributor may also retain the proceeds of the initial sales charge paid by shareholders upon the purchase of Class A shares of the Funds and the contingent deferred sales charge paid by shareholders upon certain redemptions for Class A and Class C shares. For the period ended September 30, 2025, the Distributor retained the following amounts in sales charges:

---

| | | |
|:---|:---|:---|
|  | **Class A** | **Class C** |
| **Initial Sales Charges:** | | |
| GNMA Income | $1234 | $— |
| High Yield Bond | 1849 |  |
| Intermediate Bond | 1275 |  |
| Short Duration Bond | 23 |  |
| Short Duration High Income | 1667 |  |
| Strategic Income Opportunities | 1599 |  |
| **Contingent Deferred Sales Charges:** |  |  |
| GNMA Income | $4 | $110 |
| High Yield Bond |  | 42 |
| Intermediate Bond | 3 | 606 |
| Short Duration High Income |  | 1655 |
| Strategic Income Opportunities |  | 810 |

---

**NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES**

At September 30, 2025, the following direct or indirect, wholly owned subsidiaries of Voya Financial, Inc. or affiliated investment companies owned more than 5% of the following Funds:

---

| | | |
|:---|:---|:---|
| **Subsidiary/ Affiliated Investment**<br>**Company** | <br>**Fund** |<br>**Percentage** |
| Voya In-Retirement Fund | Short Duration Bond | 5.46% |
| Voya Index Solution 2030 Portfolio | Short Duration Bond | 5.18 |
| Voya Index Solution Income Portfolio | Short Duration Bond | 30.66 |
| Voya Institutional Trust Company | GNMA Income | 14.83 |
|  | Short Duration High Income | 23.26 |
| Voya Retirement Insurance and Annuity Company | Intermediate Bond | 7.48 |
|  | Short Duration Bond | 6.42 |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)**

Voya Solution Conservative Portfolio Short Duration Bond 5.19 <br> Voya Solution Income Portfolio High Yield Bond 7.96 <br> Short Duration Bond 10.63

The Funds have adopted a deferred compensation plan (the "DC Plan"), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees' fees that they are entitled to receive from the Funds. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the "Notional Funds"). When the Funds purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees' deferred fees, this results in a Fund asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of "Other assets" on the accompanying Statements of Assets and Liabilities. Deferral of trustees' fees under the DC Plan will not affect net assets of the Funds, and will not materially affect the Funds' assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

The Funds may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2025, the per account fees for affiliated recordkeeping services paid by each Fund were as follows:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| GNMA Income | $117105 |
| High Yield Bond | 1794 |
| Intermediate Bond | 147728 |
| Short Duration Bond | 3 |
| Strategic Income Opportunities | 11702 |

---

**NOTE 7 — EXPENSE LIMITATION AGREEMENTS**

Pursuant to a written expense limitation agreement ("Expense Limitation Agreement") between the Investment Adviser and the Trust, on behalf of the Funds, the Investment Adviser has agreed to limit expenses of each Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, other expenses not incurred in the ordinary course of business, expenses of any counsel or other persons or services retained by the Funds' Board members who are not "interested persons," as that term is defined in the 1940 Act, and acquired fund fees and expenses, as applicable, to the levels listed below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Fund** | **Class**<br>**A** | **Class**<br>**C** | **Class**<br>**I** | **Class**<br>**R** | **Class**<br>**R6** | **Class**<br>**W** |
| GNMA Income | 0.84% | 1.59% | 0.54% | N/A | 0.54% | 0.59% |
| High Yield Bond | 1.10% | 1.85% | 0.85% | 1.35% | 0.83% | 0.85% |
| Intermediate Bond | 0.75% | 1.50% | 0.50% | 1.00% | 0.50% | 0.50% |
| Short Duration Bond | 0.65% | 1.40% | 0.35% | 0.90% | 0.30% | 0.40% |
| Short Duration High Income | 0.85% | 1.60% | 0.60% | N/A | 0.60% | 0.60% |
| Strategic Income Opportunities | 1.15% | 1.90% | 0.72% | 1.40% | 0.60% | 0.90% |

---

With the exception of Strategic Income Opportunities and the non-recoupable management fee waiver for High Yield Bond, the Investment Adviser may at a later date recoup from a Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, a Fund's expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.

As of September 30, 2025 the amounts of waived and/or reimbursed fees that are subject to possible recoupment by the Investment Adviser and the related expiration dates are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September 30,** | |
|  | **2026** | **2027** | **2028** | <br>**Total** |
| Short Duration Bond | $27520 | $16460 | $— | $43980 |
| Short Duration High Income | 118644 | 49159 |  | 167803 |

---

In addition to the above waived and/or reimbursed fees, the amount of class specific fees waived or reimbursed that are subject to possible recoupment by the Investment Adviser, and the related expiration dates, as of September 30, 2025, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September 30,** | |
|  | **2026** | **2027** | **2028** | <br>**Total** |
| **GNMA Income** | **GNMA Income** |  |  |  |
| Class A | $— | $124456 | $106841 | $231297 |
| Class C |  | 3975 | 2940 | 6915 |
| Class I | 176614 | 519038 | 479638 | 1175290 |
| Class W |  | 19658 | 16741 | 36399 |
| **Short Duration Bond** | **Short Duration Bond** |  |  |  |
| Class A | $— | $— | $137 | $137 |
| Class C |  |  | 4 | 4 |
| Class I | 9926 | 6374 | 2177 | 18477 |
| Class R |  |  | 2 | 2 |
| Class R6 | 299 | 362 |  | 661 |
| Class W |  |  | 317 | 317 |
| **Short Duration High Income** | **Short Duration High Income** |  |  |  |
| Class A | $— | $1003 | $— | $1003 |
| Class C |  | 3 |  | 3 |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 7 — EXPENSE LIMITATION AGREEMENTS (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September 30,** | |
|  | **2026** | **2027** | **2028** | <br>**Total** |
| Class I | 48 | 7881 | 13909 | 21838 |

---

The Expense Limitation Agreement is contractual through August 1, 2026 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.

**NOTE 8 — LINE OF CREDIT**

Effective June 10, 2025, the Funds, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured committed revolving line of credit agreement (the "Credit Agreement") with The Bank of New York Mellon ("BNY") for an aggregate amount of $400,000,000 through June 9, 2026. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Fund or certain other funds managed by the Investment Adviser. The funds to which the line of credit is

**NOTE 9 — CAPITAL SHARES**

Transactions in capital shares and dollars were as follows:

available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2025, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 9, 2025.

Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance. The following Funds utilized the line of credit during the period ended September 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Days<br> Utilized** | **Approximate<br> Average<br> Daily Balance<br> For Days<br> Utilized** | **Approximate<br> Weighted<br> Average<br> Interest Rate<br> For Days<br> Utilized** |
| GNMA Income | 1 | $649000 | 5.33% |
| High Yield Bond | 2 | 2603500 | 5.33 |
| Intermediate Bond | 1 | 982000 | 5.33 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Shares**<br>**sold** | <br>**Shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | **Net increase**<br>**(decrease) in**<br>**shares**<br>**outstanding** | <br>**Shares**<br>**sold** | **Proceeds<br> from**<br>**shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | <br>**Net increase**<br>**(decrease)** |
| <br>**Year or**<br>**period ended** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **GNMA Income** | **GNMA Income** | **GNMA Income** |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 4675080 |  | 593810 | (4500533) |  | 768357 | 34643520 |  | 4422500 | (33347821) |  | 5718199 |
| 3/31/2025 | 4401865 |  | 1186137 | (10546834) |  | (4958832) | 32414045 |  | 8722824 | (77565382) |  | (36428513) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 64949 |  | 14958 | (119186) |  | (39279) | 475736 |  | 110828 | (880236) |  | (293672) |
| 3/31/2025 | 249247 |  | 29865 | (725461) |  | (446349) | 1847411 |  | 218264 | (5303923) |  | (3238249) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 20567084 |  | 1715231 | (23574149) |  | (1291834) | 153025932 |  | 12796279 | (175476185) |  | (9653974) |
| 3/31/2025 | 42102160 |  | 3318805 | (62613807) |  | (17192842) | 310866507 |  | 24444801 | (459711932) |  | (124400624) |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 386263 |  | 45869 | (1137299) |  | (705167) | 2856179 |  | 342136 | (8530516) |  | (5332201) |
| 3/31/2025 | 578790 |  | 117929 | (2182547) |  | (1485828) | 4251850 |  | 868497 | (16245938) |  | (11125591) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 533723 |  | 113607 | (954571) |  | (307241) | 3968672 |  | 849046 | (7105707) |  | (2287989) |
| 3/31/2025 | 1070973 |  | 230341 | (1738626) |  | (437312) | 7880009 |  | 1700102 | (12817160) |  | (3237049) |
| **High Yield Bond** | **High Yield Bond** | **High Yield Bond** |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 95645 |  | 133707 | (452648) |  | (223296) | 665406 |  | 933018 | (3153548) |  | (1555124) |
| 3/31/2025 | 1003458 |  | 278038 | (1629865) |  | (348369) | 6893745 |  | 1925866 | (11219843) |  | (2400232) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 966 |  | 5014 | (58269) |  | (52289) | 6711 |  | 34941 | (401687) |  | (360035) |
| 3/31/2025 | 9990 |  | 33244 | (696564) |  | (653330) | 69500 |  | 229731 | (4859462) |  | (4560231) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1408039 |  | 521447 | (4280998) |  | (2351512) | 9769879 |  | 3627792 | (29711165) |  | (16313494) |
| 3/31/2025 | 13880494 |  | 1159596 | (24674456) |  | (9634366) | 95593862 |  | 8014872 | (169130118) |  | (65521384) |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 2104 |  | 1471 | (10541) |  | (6966) | 14693 |  | 10267 | (74205) |  | (49245) |
| 3/31/2025 | 7421 |  | 2855 | (6229) |  | 4047 | 51098 |  | 19785 | (43321) |  | 27562 |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 9 — CAPITAL SHARES (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Shares**<br>**sold** | <br>**Shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | **Net increase**<br>**(decrease) in**<br>**shares**<br>**outstanding** | <br>**Shares**<br>**sold** | **Proceeds<br> from**<br>**shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | <br>**Net increase**<br>**(decrease)** |
| <br>**Year or**<br>**period ended** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **High Yield Bond (continued)** | **High Yield Bond (continued)** | **High Yield Bond (continued)** | **High Yield Bond (continued)** |  |  |  |  |  |  |  |  |  |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1641814 |  | 684405 | (14816221) |  | (12490002) | 11437733 |  | 4770671 | (103772273) |  | (87563869) |
| 3/31/2025 | 2682565 |  | 1731965 | (10089734) |  | (5675204) | 18545920 |  | 11989942 | (70082687) |  | (39546825) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 367879 |  | 169856 | (803569) |  | (265834) | 2569810 |  | 1187042 | (5553266) |  | (1796414) |
| 3/31/2025 | 341120 |  | 386813 | (1624681) |  | (896748) | 2366033 |  | 2683017 | (11262964) |  | (6213914) |
| **Intermediate Bond** | **Intermediate Bond** | **Intermediate Bond** | **Intermediate Bond** |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1731096 |  | 332828 | (3524921) |  | (1460997) | 15147208 |  | 2917413 | (30721254) |  | (12656633) |
| 3/31/2025 | 7202038 |  | 794796 | (12186789) |  | (4189955) | 62496274 |  | 6925680 | (106090493) |  | (36668539) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 79611 |  | 9786 | (125835) |  | (36438) | 702652 |  | 85638 | (1099702) |  | (311412) |
| 3/31/2025 | 139927 |  | 22235 | (316293) |  | (154131) | 1231412 |  | 193420 | (2742926) |  | (1318094) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 80873977 |  | 14152679 | (82221101) |  | 12805555 | 705620127 |  | 124070080 | (717427937) |  | 112262270 |
| 3/31/2025 | 207889446 |  | 27055266 | (153860582) |  | 81084130 | 1823006163 |  | 235880685 | (1335308019) |  | 723578829 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 800406 |  | 230402 | (1223591) |  | (192783) | 7002845 |  | 2022378 | (10697226) |  | (1672003) |
| 3/31/2025 | 1896717 |  | 490967 | (3658571) |  | (1270887) | 16535380 |  | 4284207 | (31789885) |  | (10970298) |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 55394568 |  | 7265921 | (38415896) |  | 24244593 | 484266727 |  | 63737081 | (336032125) |  | 211971683 |
| 3/31/2025 | 93241404 |  | 13435325 | (73773535) |  | 32903194 | 815536721 |  | 117249514 | (643770861) |  | 289015374 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1322378 |  | 142728 | (2047013) |  | (581907) | 11536289 |  | 1249928 | (17815789) |  | (5029572) |
| 3/31/2025 | 2067083 |  | 363754 | (4008345) |  | (1577508) | 17957176 |  | 3164604 | (34696806) |  | (13575026) |
| **Short Duration Bond** | **Short Duration Bond** | **Short Duration Bond** | **Short Duration Bond** |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 18117 |  | 7911 | (140292) |  | (114264) | 169519 |  | 74271 | (1314634) |  | (1070844) |
| 3/31/2025 | 147467 |  | 16927 | (196076) |  | (31682) | 1382486 |  | 157824 | (1834298) |  | (293988) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 701 |  | 185 | (421) |  | 465 | 6580 |  | 1734 | (3954) |  | 4360 |
| 3/31/2025 | 1195 |  | 328 | (624) |  | 899 | 11165 |  | 3067 | (5821) |  | 8411 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1934664 |  | 120515 | (485304) |  | 1569875 | 18138855 |  | 1130891 | (4553597) |  | 14716149 |
| 3/31/2025 | 1793760 |  | 183771 | (1701697) |  | 275834 | 16685054 |  | 1714146 | (15795448) |  | 2603752 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 2588 |  | 120 | (43) |  | 2665 | 24363 |  | 1128 | (406) |  | 25085 |
| 3/31/2025 | 1326 |  | 162 | (534) |  | 954 | 12414 |  | 1522 | (4948) |  | 8988 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 8005118 |  | 1359067 | (33521262) |  | (24157077) | 75073463 |  | 12765169 | (316080666) |  | (228242034) |
| 3/31/2025 | 27730193 |  | 2705993 | (26535013) |  | 3901173 | 259597908 |  | 25255219 | (247390485) |  | 37462642 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 49918 |  | 17981 | (103597) |  | (35698) | 470445 |  | 169313 | (973571) |  | (333813) |
| 3/31/2025 | 63887 |  | 43925 | (403005) |  | (295193) | 597630 |  | 410838 | (3771186) |  | (2762718) |
| **Short Duration High Income** | **Short Duration High Income** | **Short Duration High Income** | **Short Duration High Income** |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 264955 | 8676848 | 146705 | (1898981) |  | 7189527 | 2552526 | 83567988 | 1413472 | (18218363) |  | 69315623 |
| 3/31/2025 | 1003354 |  | 139109 | (409582) |  | 732881 | 10241820 |  | 1415888 | (4193626) |  | 7464082 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 153747 | 439467 | 21800 | (181375) |  | 433639 | 1500321 | 4285593 | 212677 | (1765898) |  | 4232693 |
| 3/31/2025 | 492568 |  | 23102 | (37324) |  | 478346 | 5051552 |  | 238344 | (385959) |  | 4903937 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 3288606 | 4025911 | 712154 | (16116330) |  | (8089659) | 31748489 | 38748485 | 6861453 | (155068087) |  | (77709660) |
| 3/31/2025 | 21511636 |  | 1327249 | (8620173) |  | 14218712 | 219192829 |  | 13510585 | (87809900) |  | 144893514 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 |  |  | 13203 | (1009687) |  | (996484) |  |  | 127153 | (9745499) |  | (9618346) |
| 3/31/2025 | 6719 |  | 139119 | (1805761) |  | (1659923) | 67960 |  | 1413069 | (18471886) |  | (16990857) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 8/08/2025- |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025<sup>(1)</sup> | 1137 | 513328 | 6303 | (18476) |  | 502292 | 10845 | 4940685 | 60695 | (177796) |  | 4834429 |
| **Strategic Income Opportunities** | **Strategic Income Opportunities** | **Strategic Income Opportunities** | **Strategic Income Opportunities** |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1348139 |  | 165335 | (1504612) |  | 8862 | 12599662 |  | 1547395 | (13972042) |  | 175015 |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 9 — CAPITAL SHARES (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Shares**<br>**sold** | <br>**Shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** |<br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | **Net increase**<br>**(decrease) in**<br>**shares**<br>**outstanding** | <br>**Shares**<br>**sold** | **Proceeds<br> from**<br>**shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | <br>**Net increase**<br>**(decrease)** |
| <br>**Year or**<br>**period ended** | <br>**#** | <br>**#** | <br>**#** |<br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2025 | 3486937 |  | 345236 | (2609551) |  | 1222622 | 32170409 |  | 3187034 | (24038115) |  | 11319328 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 319668 |  | 61746 | (399713) |  | (18299) | 2941199 |  | 569418 | (3678768) |  | (168151) |
| 3/31/2025 | 764491 |  | 144032 | (1277814) |  | (369291) | 6952342 |  | 1309580 | (11599529) |  | (3337607) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 21562438 |  | 3953524 | (25718642) |  | (202680) | 201580013 |  | 37031036 | (240066037) |  | (1454988) |
| 3/31/2025 | 52433230 |  | 8624023 | (44088484) |  | 16968769 | 484604446 |  | 79695725 | (407432318) |  | 156867853 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 80353 |  | 36122 | (102567) |  | 13908 | 744923 |  | 335400 | (950867) |  | 129456 |
| 3/31/2025 | 149408 |  | 85702 | (407466) |  | (172356) | 1369513 |  | 784704 | (3728433) |  | (1574216) |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 425892 |  | 849155 | (256521) |  | 1018526 | 3959396 |  | 7930017 | (2385116) |  | 9504297 |
| 3/31/2025 | 5826925 |  | 1749842 | (463819) |  | 7112948 | 53278904 |  | 16127571 | (4275219) |  | 65131256 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 69355 |  | 21608 | (182992) |  | (92029) | 646175 |  | 201730 | (1698627) |  | (850722) |
| 3/31/2025 | 386114 |  | 52302 | (435274) |  | 3142 | 3542971 |  | 481608 | (4003036) |  | 21543 |

---

<sup>(1)</sup> Commencement of operations.

**NOTE 10 — UNFUNDED LOAN COMMITMENTS**

Certain Funds may enter into credit agreements, all or a portion of which may be unfunded. The Funds are obligated to fund these loan commitments at the borrower's discretion. Funded and unfunded portions of the credit agreements are presented in the Portfolio of Investments. At September 30, 2025, Strategic Income Opportunities had the following unfunded loan commitments:

---

| | |
|:---|:---|
| <br>**Loan** | **Unfunded**<br>**Loan**<br>**Commitment** |
| Chrysaor Bidco S.A R.L. Delayed Draw Term Loan (Usd) | $10329 |
| Clydesdale Acquisition Holdings Inc. Delayed Draw Term Loan | 1083 |
| First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc. Delayed Draw Term Loan | 129792 |
| Hanger Inc. Delayed Draw Term Loan | 34420 |
| Raven Acquisition Holdings, LLC 2024 Delayed Draw Term Loan Commitment | 46333 |
| USALCO LLC 2025 Delayed Draw Term Loan | 41647 |
|  | $263604 |

---

**NOTE 11 — SECURITIES LENDING**

Under a Master Securities Lending Agreement (the "Agreement") with BNY, the Funds can lend their securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral is equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned.

The market value of the loaned securities is determined at the Market Close of the Funds at their last sale price or official closing price on the principal exchange or system on which they are traded and any additional collateral is delivered to the Funds on the next business day. The cash collateral received is invested in approved investments as defined in the Securities Lending Agreement with BNY (the "Agreement"). The Funds bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Funds indemnification from loss with respect to the investment of collateral to the extent the cash collateral is invested in overnight repurchase agreements.

Cash collateral received in connection with securities lending is invested in cash equivalents, money market funds, repurchase agreements with maturities of not more than 99 days that are collateralized with U.S. Government securities, or certain short-term investments that have a remaining maturity of 190 days or less ("Permitted Investments"). Short-term investments include: securities, units, shares or other participations in short-term investment funds, pools or trusts; commercial paper, notes, bonds or other debt obligations, certificates of deposit, time deposits and other bank obligations and asset-backed commercial paper backed by diversified receivables and repurchase-backed programs. Permitted Investments are subject to certain guidelines established by the Adviser regarding liquidity, diversification, credit quality and average credit life/duration requirements. The securities purchased with cash collateral received are reflected in the Portfolio of Investments under Short-Term Investments.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 11 — SECURITIES LENDING (continued)**

Generally, in the event of counterparty default, the Funds have the right to use the collateral to offset losses incurred. The Agreement contains certain guarantees by BNY in the event of counterparty default and/or a borrower's failure to return a loaned security; however, there would be a potential loss to the Funds in the event the Funds are delayed or prevented from exercising its right to dispose of the collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in a fund.

The following tables represent a summary of each respective Fund's securities lending agreements by counterparty which are subject to offset under the Agreement as of September 30, 2025:

**Intermediate Bond**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Barclays Bank PLC | $55327468 | $(55327468) | $— |
| Barclays Capital Inc. | 8770823 | (8770823) |  |
| BMO Capital Markets Corp | 11715298 | (11715298) |  |
| BNP Paribas | 17914715 | (17914715) |  |
| BNP Paribas Prime Brokerage Int'l Ltd. | 5106945 | (5106945) |  |
| BofA Securities Inc | 33548698 | (33548698) |  |
| Canadian Imperial Bank Of Commerce | 5242303 | (5242303) |  |
| Cantor Fitzgerald & Co | 613203 | (613203) |  |
| Citigroup Global Markets Inc. | 7604577 | (7604577) |  |
| Daiwa Capital Markets America Inc. | 7234021 | (7234021) |  |
| Deutsche Bank Securities Inc. | 40013470 | (40013470) |  |
| Goldman, Sachs & Co. LLC | 76319058 | (76319058) |  |
| HSBC Securities (USA) Inc. | 6337626 | (6337626) |  |
| J.P. Morgan Securities LLC | 127133955 | (127133955) |  |
| Jefferies LLC | 4190803 | (4190803) |  |
| Mirae Asset Securities(USA) Inc. | 719156 | (719156) |  |
| Mizuho Securities USA LLC. | 1735531 | (1735531) |  |
| Morgan Stanley & Co. LLC | 39642574 | (39642574) |  |
| MUFG Securities Americas Inc. | 14702924 | (14702924) |  |
| National Bank Financial Inc. | 551118 | (551118) |  |
| NatWest Markets Securities Inc. | 2785100 | (2785100) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Nomura Securities International, Inc. | $5331678 | $(5331678) | $— |
| RBC Capital Markets, LLC | 3263486 | (3263486) |  |
| RBC Dominion Securities Inc. | 106404 | (106404) |  |
| Scotia Capital (USA) INC | 19953525 | (19953525) |  |
| Societe Generale | 27336613 | (27336613) |  |
| State Street Bank and Trust Company | 4541061 | (4541061) |  |
| TD Securities (USA) Inc. | 86993 | (86993) |  |
| Truist Securities INC | 3591062 | (3591062) |  |
| UBS AG | 249066 | (249066) |  |
| US Bancorp Investments | 401445 | (401445) |  |
| Wells Fargo Bank NA | 1633643 | (1633643) |  |
| Wells Fargo Securities LLC | 22050889 | (22050889) |  |
| Total | $555755231 | $(555755231) | $— |

---

<sup>(1)</sup> Cash collateral with a fair value of $571,686,937 has been pledged by the counterparty and received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes.

**Short Duration** **Bond**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| BofA Securities Inc Canadian Imperial | $1582612 | $(1582612) | $— |
| Bank Of Commerce | 257036 | (257036) |  |
| Citigroup Global Markets Inc. | 257237 | (257237) |  |
| HSBC Securities (USA) Inc. | 106983 | (106983) |  |
| J.P. Morgan Securities LLC | 467379 | (467379) |  |
| NatWest Markets Securities Inc. | 1517629 | (1517629) |  |
| RBC Capital Markets, LLC | 621405 | (621405) |  |
| TD Securities (USA) Inc. | 192719 | (192719) |  |
| Total | $5003000 | $(5003000) | $— |

---

(1) Cash
 collateral with a fair value of $5,130,962 has been pledged by the counterparty and received
 in connection with the above securities lending transactions. Excess cash collateral received
 from the individual counterparty is not shown for financial reporting purposes.

**Short Duration High Income**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Barclays Capital Inc. | $1109104 | $(1109104) | $— |
| Goldman, Sachs & Co. LLC | 9327745 | (9327745) |  |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 11 — SECURITIES LENDING (continued)**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Scotia Capital (USA) INC | $1955093 | $(1955093) | $— |
| TD Prime Services LLC | 4105808 | (4105808) |  |
| Total | $16497750 | $(16497750) | $— |

---

(1) Cash
 collateral with a fair value of $16,979,090 has been pledged by the counterparty and received
 in connection with the above securities lending transactions. Excess cash collateral received
 from the individual counterparty is not shown for financial reporting purposes.

**Strategic Income Opportunities**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Barclays Capital Inc. | $763194 | $(763194) | $— |
| BNP Paribas | 932708 | (932708) |  |
| BNP Paribas Prime Brokerage Int'l Ltd. | 1367760 | (1367760) |  |
| BofA Securities Inc | 1093192 | (1093192) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Canadian Imperial Bank Of Commerce | $1911004 | $(1911004) | $— |
| Cantor Fitzgerald & Co | 395590 | (395590) |  |
| Citigroup Global Markets Inc. | 6953 | (6953) |  |
| Deutsche Bank Securities Inc. | 853238 | (853238) |  |
| Goldman, Sachs & Co. LLC | 2610704 | (2610704) |  |
| J.P. Morgan Securities LLC | 10233597 | (10233597) |  |
| Morgan Stanley & Co. LLC | 1539026 | (1539026) |  |
| RBC Capital Markets, LLC | 1576268 | (1576268) |  |
| TD Prime Services LLC | 110163 | (110163) |  |
| Truist Securities INC | 69522 | (69522) |  |
| Total | $23462919 | $(23462919) | $— |

---

<sup>(1)</sup> Cash collateral with a fair value of $24,148,665 has been pledged by the counterparty and received in connection with the above securities lending transactions. Excess cash collateral received from the individual counterparty is not shown for financial reporting purposes.

**NOTE 12 — FEDERAL INCOME TAXES**

The amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their U.S. federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of foreign currency transactions, futures contracts, interest only securities, paydowns, swaps, straddle loss deferrals, and wash sale deferrals.

Dividends paid by the Funds from net investment income and distributions of net realized short-term capital gains are, for U.S. federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | |
|  | **March 31, 2025** | **March 31, 2025** | **Year Ended**<br>**March 31, 2024** |
|  | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** | **Ordinary**<br>**Income** |
| GNMA Income | $42122957 | $— | $48022294 |
| High Yield Bond | 26557027 |  | 31951958 |
| Intermediate Bond | 423065466 |  | 340492684 |
| Short Duration Bond | 27741707 |  | 23544635 |
| Short Duration High Income | 16555065 | 346958 | 4608971 |
| Strategic Income Opportunities | 109799704 |  | 89761742 |

---

The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for U.S. federal income tax purposes as of March 31, 2025 were:

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 12 — FEDERAL INCOME TAXES (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Capital Loss Carryforwards** | **Capital Loss Carryforwards** | | |
|  | **Undistributed**<br>**Ordinary**<br>**Income** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** | **Amount** | **Character** |<br>**Other** | **Total**<br>**Distributable**<br>**Earnings/(Loss)** |
| GNMA Income | $2254566 | $(101418495) | $(72338632) | Short-term | $(469975) | $(206608764) |
|  |  |  | (34636228) | Long-term |  |  |
|  |  |  | $(106974860) |  |  |  |
| High Yield Bond | 335232 | (134395) | (4933534) | Short-term | (117521) | (50998520) |
|  |  |  | (46148302) | Long-term |  |  |
|  |  |  | $(51081836) |  |  |  |
| Intermediate Bond | 20195841 | (268393491) | (316765339) | Short-term | (4696304) | (1413009113) |
|  |  |  | (843349820) | Long-term |  |  |
|  |  |  | $(1160115159) |  |  |  |
| Short Duration Bond | 378033 | 3069556 | (6496355) | Short-term | (991) | (28390745) |
|  |  |  | (25340988) | Long-term |  |  |
|  |  |  | $(31837343) |  |  |  |
| Short Duration High Income | 250562 | (6798163) |  |  | (10848) | (6558449) |
| Strategic Income Opportunities | 260829 | (42227234) | (21402363) | Short-term | (668528) | (263451482) |
|  |  |  | (199414186) | Long-term |  |  |
|  |  |  | $(220816549) |  |  |  |

---

The Funds' major tax jurisdictions are U.S. federal and Arizona state.

As of September 30, 2025, no provision for income tax is required in the Funds' financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Funds' federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.

**NOTE 13 — MARKET DISRUPTION AND GEOPOLITICAL RISK**

A Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, trade disputes, tariffs and other restrictions on trade or economic sanctions, rapid technological developments (such as artificial intelligence technologies), and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real

estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby geographic regions. Furthermore, a prolonged conflict between Hamas and Israel, and the potential expansion of the conflict in the surrounding areas and the involvement of other nations in such conflict, such as the Houthi movement's attacks on marine vessels in the Red Sea, could further destabilize the Middle East region and introduce new uncertainties in global markets, including the oil and natural gas markets. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have experienced financial difficulties and, in some cases,

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 13 — MARKET DISRUPTION AND GEOPOLITICAL RISK (continued)**

failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign

(non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a Fund's investments. Any of these occurrences could disrupt the operations of a Fund and of a Fund's service providers.

**NOTE 14 — REORGANIZATIONS**

On August 8, 2025, Short Duration High Income Fund ("Acquiring Fund") acquired all of the net assets and assumed all liabilities of Voya Floating Rate Fund ("Acquired Fund"), an open-end investment company that is not included in this report, in a tax-free reorganization in exchange for shares of the Acquiring Fund. For financial reporting purposes, assets received and shares issued by the Acquiring Fund were recorded at fair value; however, the cost basis of the investments received from the Acquired Fund were carried forward to align ongoing reporting of the Acquiring Fund's realized and unrealized gains and losses with amounts distributable to shareholders for tax purposes.

Assuming the acquisition had been completed on April 1, 2025, the beginning of the annual reporting period of the Acquiring Fund, the Acquiring Fund's pro forma results of operations for the six months ended September 30, 2025, are as follows (Unaudited):

---

| | |
|:---|:---|
| Net investment income | $11266813 |
| Net realized and unrealized loss on investments | (5818698) |
| Net increase in net assets resulting from operations | $5448115 |

---

Because the combined investment funds have been managed as a single integrated fund since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Acquired Fund that have been included in the Acquiring Fund's statement of operations since August 8, 2025. Net assets and unrealized appreciation or depreciation as of the reorganization date were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Total Net**<br>**Assets of**<br>**Acquired**<br>**Fund**<br>**(000s)** | **Total Net**<br>**Assets of**<br>**Acquiring**<br>**Fund**<br>**(000s)** | **Acquired**<br>**Fund's**<br>**Capital Loss**<br>**Carryforwards**<br>**(000s)** |  | **Acquired**<br>**Fund's**<br>**Unrealized**<br>**Appreciation**<br>**(000s)** |<br>**Funds'**<br>**Conversion**<br>**Ratio** |
| $131543 | $157810 | $(229233) |)\* | $2066 | 0.8258 |

---

<sup>\*</sup> Utilization of these capital losses is subject to annual limitations under Section 382 of the Internal Revenue Code.

The net assets of the Acquiring Fund after the acquisition of Acquired Fund were $289,352,418.

**NOTE 15 — SEGMENT REPORTING**

In November 2023, the FASB issued Accounting Standards Update ("ASU"), ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about segment expenses. Adoption of ASU 2023-07,

impacts financial statement disclosure only and did not affect a Fund's financial position or operating results.

Topic 280 defines an operating segment as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the chief

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 15 — SEGMENT REPORTING (continued)**

operating decision maker ("CODM") to assess performance and make resource allocation decisions. The Funds have one operating segment that derives its income from earnings on its investments. The Product Review Committee (the "Committee") of the Investment Adviser and its affiliates is deemed to be the CODM. The Committee is comprised of executive leaders and it reviews the operating results of the Funds holistically. The CODM considers changes in net assets from operations, expense ratios, total returns and fund composition to make resource allocation decisions. Detailed financial information regarding the Funds is disclosed within these financial statements with total assets and liabilities disclosed on the Statement of Assets and Liabilities, investments held on the Portfolio of Investments, results of operations on the Statement of Operations and other information about each Fund's performance, including total return, portfolio turnover and expense ratios within the Financial Highlights.

**NOTE 16 — SUBSEQUENT EVENTS**

Dividends: Subsequent to September 30, 2025, the Funds declared dividends from net investment income of:

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Share**<br>**Amount** | **Payable**<br>**Date** | **Record**<br>**Date** |
| GNMA Income |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0250 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0201 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0270 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0273 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0267 | November 3, 2025 | Daily |
| High Yield Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0308 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0263 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0328 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0293 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0333 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0323 | November 3, 2025 | Daily |
| Intermediate Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0323 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0266 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0350 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0304 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0354 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0341 | November 3, 2025 | Daily |
| Short Duration Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0338 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0278 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0359 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0319 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0364 | November 3, 2025 | Daily |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Class W | $0.0359 | November 3, 2025 | Daily |
| Short Duration High Income |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0502 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0446 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0522 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0523 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0522 | November 3, 2025 | Daily |
| Strategic Income Opportunities |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0372 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0307 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0391 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0349 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0396 | November 3, 2025 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0391 | November 3, 2025 | Daily |

---

The Funds have evaluated events occurring after the Statements of Assets and Liabilities date through the date that the financial statements were issued ("subsequent events") to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 65.8%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 65.8%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 65.8%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 65.8%** |
|  | **Federal Home Loan Mortgage Corporation: 1.4%** **<sup>(1)</sup>** | **Federal Home Loan Mortgage Corporation: 1.4%** **<sup>(1)</sup>** | **Federal Home Loan Mortgage Corporation: 1.4%** **<sup>(1)</sup>** |
| 557765 | 3.500%, 07/01/2047 | $521959 | 0.1 |
| 1214728 | 3.500%, 12/01/2047 | 1132650 | 0.1 |
| 2339197 | 3.500%, 03/01/2048 | 2187822 | 0.2 |
| 2621362 | 3.500%, 11/01/2048 | 2455114 | 0.2 |
| 772437 | 4.000%, 07/01/2047 | 744203 | 0.1 |
| 3600000 <sup>(2)</sup> | 4.080%, 10/03/2025 | 3598794 | 0.3 |
| 300000 <sup>(2)</sup> | 4.080%, 10/15/2025 | 299497 | 0.0 |
| 299133 | 4.500%, 08/01/2047 | 295942 | 0.0 |
| 303501 | 5.000%, 11/01/2035 | 311709 | 0.1 |
| 15803 | 5.000%, 12/01/2035 | 16211 | 0.0 |
| 7078 | 5.000%, 01/01/2038 | 7269 | 0.0 |
| 7299 | 5.000%, 03/01/2038 | 7497 | 0.0 |
| 30342 | 5.000%, 03/01/2038 | 31164 | 0.0 |
| 89105 | 5.000%, 02/01/2039 | 89981 | 0.0 |
| 325501 | 5.000%, 07/01/2039 | 333919 | 0.1 |
| 98805 | 5.000%, 01/01/2040 | 101361 | 0.0 |
| 358860 | 5.000%, 04/01/2040 | 366189 | 0.1 |
| 1149286 | 5.000%, 10/01/2040 | 1179027 | 0.1 |
| 138216 | 5.000%, 05/01/2041 | 141283 | 0.0 |
| 113561 | 5.290%, 10/01/2037 | 117601 | 0.0 |
| 4302 | 5.410%, 08/01/2037 | 4296 | 0.0 |
| 29908 | 5.440%, 01/01/2037 | 31161 | 0.0 |
| 24898 | 5.440%, 09/01/2037 | 25798 | 0.0 |
| 23351 | 5.440%, 02/01/2038 | 24304 | 0.0 |
| 85050 | 5.450%, 12/01/2037 | 87804 | 0.0 |
| 107827 | 5.450%, 12/01/2037 | 110892 | 0.0 |
| 28070 | 5.460%, 08/01/2037 | 29156 | 0.0 |
| 31262 | 5.460%, 01/01/2038 | 32211 | 0.0 |
| 45097 | 5.500%, 08/01/2037 | 46794 | 0.0 |
| 74314 | 5.500%, 11/01/2037 | 77052 | 0.0 |
| 29685 | 5.620%, 12/01/2036 | 31002 | 0.0 |
| 52340 | 5.620%, 08/01/2037 | 54553 | 0.0 |
| 61024 | 5.625%, 12/01/2036 | 63677 | 0.0 |
| 70494 | 5.625%, 01/01/2037 | 71189 | 0.0 |
| 78652 | 5.625%, 03/01/2037 | 82157 | 0.0 |
| 74679 | 5.625%, 06/01/2037 | 77662 | 0.0 |
| 35219 | 5.625%, 02/01/2038 | 36788 | 0.0 |
| 241282 | 5.750%, 09/01/2037 | 251882 | 0.0 |
| 48258 | 5.750%, 10/01/2037 | 50447 | 0.0 |
| 78182 | 6.090%, 12/01/2037 | 81122 | 0.0 |
| 1954 | 7.500%, 01/01/2030 | 2014 | 0.0 |
|  |  | **15211153** | **1.4** |
|  | **Federal National Mortgage Association: 0.5%** **<sup>(1)</sup>** | **Federal National Mortgage Association: 0.5%** **<sup>(1)</sup>** | **Federal National Mortgage Association: 0.5%** **<sup>(1)</sup>** |
| 56072 | 3.125%, 11/01/2041 | 53432 | 0.0 |
| 22747 | 3.250%, 04/01/2041 | 22720 | 0.0 |
| 82187 | 3.475%, 10/01/2041 | 79759 | 0.0 |
| 61483 | 3.750%, 09/01/2041 | 60369 | 0.0 |
| 54957 | 3.750%, 10/01/2041 | 53767 | 0.0 |
| 3794478 | 4.000%, 07/01/2056 | 3571470 | 0.3 |
| 588732 | 4.500%, 09/01/2047 | 583986 | 0.1 |
| 75296 | 5.290%, 09/01/2037 | 75732 | 0.0 |
| 214192 | 5.290%, 11/01/2037 | 216166 | 0.0 |
| 66247 | 5.290%, 12/01/2037 | 66065 | 0.0 |
| 102623 | 5.290%, 04/01/2038 | 103274 | 0.0 |
| 9660 | 5.350%, 04/01/2029 | 9668 | 0.0 |
| 55064 | 5.390%, 05/01/2038 | 55444 | 0.0 |
| 104775 | 5.440%, 08/01/2047 | 106033 | 0.0 |
| 151955 | 5.440%, 08/01/2047 | 153884 | 0.0 |
| 160320 | 5.440%, 08/01/2047 | 162375 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Federal National Mortgage Association (continued)** | **Federal National Mortgage Association (continued)** | **Federal National Mortgage Association (continued)** | **Federal National Mortgage Association (continued)** |
| 162595 | 5.440%, 09/01/2047 | $| 164685 | 0 |
| 253884 | 5.440%, 10/01/2047 |  | 257470 | 0.1 |
| 52128 | 5.620%, 12/01/2036 |  | 52696 | 0 |
| 94751 | 5.890%, 08/01/2047 |  | 96159 | 0 |
| 101540 | 5.890%, 10/01/2047 |  | 103050 | 0 |
| 2101 | 6.600%, 07/01/2027 |  | 2099 | 0 |
|  |  |  | **6050303** | **0.5** |
|  | **Government National Mortgage Association: 61.3%** | **Government National Mortgage Association: 61.3%** | **Government National Mortgage Association: 61.3%** | **Government National Mortgage Association: 61.3%** |
| 4127043 | 2.000%, 08/20/2050 |  | 3420057 | 0.3 |
| 28902303 | 2.000%, 12/20/2050 |  | 23915238 | 2.2 |
| 16062679 | 2.000%, 01/20/2051 |  | 13295997 | 1.2 |
| 13546063 | 2.000%, 02/20/2051 |  | 11225426 | 1 |
| 6232456 | 2.000%, 06/20/2051 |  | 5156969 | 0.5 |
| 11029810 | 2.000%, 08/20/2051 |  | 9126378 | 0.8 |
| 3144314 | 2.000%, 10/20/2051 |  | 2601681 | 0.2 |
| 2196185 | 2.000%, 11/20/2051 |  | 1817171 | 0.2 |
| 40728414 | 2.000%, 03/20/2052 |  | 33699043 | 3 |
| 8188199 | 2.500%, 12/20/2050 |  | 7072926 | 0.7 |
| 29508202 | 2.500%, 03/20/2051 |  | 25444165 | 2.3 |
| 14851583 | 2.500%, 04/20/2051 |  | 12806075 | 1.2 |
| 14730271 | 2.500%, 05/20/2051 |  | 12696865 | 1.2 |
| 3390762 | 2.500%, 08/20/2051 |  | 2923710 | 0.3 |
| 22556968 | 2.500%, 10/20/2051 |  | 19449854 | 1.8 |
| 3397913 | 2.500%, 12/20/2051 |  | 2928811 | 0.3 |
| 21130000 <sup>(3)</sup> | 2.500%, 10/20/2055 |  | 18194823 | 1.7 |
| 113656 | 3.000%, 12/15/2041 |  | 105793 | 0 |
| 75422 | 3.000%, 01/15/2042 |  | 68300 | 0 |
| 150364 | 3.000%, 01/15/2042 |  | 139875 | 0 |
| 150763 | 3.000%, 01/15/2042 |  | 140087 | 0 |
| 370815 | 3.000%, 02/15/2042 |  | 341312 | 0 |
| 145504 | 3.000%, 03/15/2042 |  | 133927 | 0 |
| 123393 | 3.000%, 04/15/2042 |  | 111794 | 0 |
| 50614 | 3.000%, 05/15/2042 |  | 46998 | 0 |
| 40076 | 3.000%, 06/15/2042 |  | 36606 | 0 |
| 20402757 | 3.000%, 04/20/2045 |  | 18556922 | 1.7 |
| 232060 | 3.000%, 11/20/2045 |  | 207404 | 0 |
| 54234 | 3.000%, 12/20/2045 |  | 48605 | 0 |
| 74815 | 3.000%, 12/20/2045 |  | 67112 | 0 |
| 84710 | 3.000%, 12/20/2045 |  | 75866 | 0 |
| 45150 | 3.000%, 01/20/2046 |  | 40510 | 0 |
| 1712750 | 3.000%, 02/20/2050 |  | 1506335 | 0.2 |
| 2309725 | 3.000%, 10/20/2051 |  | 2065335 | 0.2 |
| 20407678 | 3.000%, 10/20/2051 |  | 17835449 | 1.6 |
| 1258316 | 3.000%, 01/20/2052 |  | 1125112 | 0.1 |
| 7090021 | 3.000%, 03/20/2052 |  | 6292572 | 0.6 |
| 3275892 | 3.000%, 04/20/2052 |  | 2927599 | 0.3 |
| 44219 | 3.250%, 03/15/2041 |  | 41003 | 0 |
| 219689 | 3.250%, 04/15/2041 |  | 204109 | 0 |
| 65536 | 3.250%, 05/15/2041 |  | 60947 | 0 |
| 277143 | 3.250%, 06/15/2041 |  | 257693 | 0 |
| 52647 | 3.250%, 07/15/2041 |  | 48722 | 0 |
| 317284 | 3.250%, 07/15/2041 |  | 294438 | 0 |
| 542140 | 3.250%, 08/15/2041 |  | 503692 | 0.1 |
| 168826 | 3.250%, 09/15/2041 |  | 156984 | 0 |
| 225875 | 3.250%, 09/15/2041 |  | 210027 | 0 |
| 36793 | 3.250%, 11/15/2041 |  | 34050 | 0 |
| 125084 | 3.250%, 11/15/2041 |  | 116306 | 0 |
| 58251 | 3.250%, 12/15/2041 |  | 54162 | 0 |
| 34381 | 3.250%, 04/15/2042 |  | 31817 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 24099 | 3.250%, 06/15/2042 | $22446 | 0.0 |
| 70562 | 3.250%, 06/15/2042 | 65301 | 0.0 |
| 705910 | 3.500%, 04/20/2043 | 670106 | 0.1 |
| 817716 | 3.500%, 06/20/2045 | 749948 | 0.1 |
| 3091597 | 3.500%, 03/20/2047 | 2902264 | 0.3 |
| 395541 | 3.500%, 07/20/2047 | 367390 | 0.0 |
| 688130 | 3.500%, 07/20/2047 | 635756 | 0.1 |
| 16791350 | 3.500%, 12/20/2047 | 15478724 | 1.4 |
| 6016560 | 3.500%, 01/20/2048 | 5558754 | 0.5 |
| 2246830 | 3.500%, 02/20/2048 | 2082126 | 0.2 |
| 4478108 | 3.500%, 02/20/2048 | 4093058 | 0.4 |
| 3546128 | 3.500%, 03/20/2052 | 3266574 | 0.3 |
| 4967000 <sup>(3)</sup> | 3.500%, 10/20/2055 | 4529549 | 0.4 |
| 43605 | 3.650%, 12/15/2040 | 41309 | 0.0 |
| 10970 | 3.750%, 09/15/2041 | 10903 | 0.0 |
| 216899 | 3.750%, 09/15/2041 | 206148 | 0.0 |
| 62569 | 3.750%, 10/15/2041 | 59732 | 0.0 |
| 91849 | 3.750%, 10/15/2041 | 87513 | 0.0 |
| 1508221 | 3.750%, 05/20/2042 | 1402842 | 0.1 |
| 2224808 | 3.750%, 05/20/2042 | 2051528 | 0.2 |
| 77325 | 3.900%, 10/15/2041 | 74095 | 0.0 |
| 37004 | 4.000%, 05/20/2033 | 35945 | 0.0 |
| 237983 | 4.000%, 05/20/2034 | 235227 | 0.0 |
| 276193 | 4.000%, 07/20/2034 | 272866 | 0.0 |
| 287917 | 4.000%, 07/20/2034 | 285309 | 0.0 |
| 59669 | 4.000%, 08/20/2035 | 58353 | 0.0 |
| 524155 | 4.000%, 09/20/2040 | 496339 | 0.1 |
| 848864 | 4.000%, 07/20/2041 | 805568 | 0.1 |
| 3536262 | 4.000%, 08/20/2042 | 3424614 | 0.3 |
| 99079 | 4.000%, 09/15/2042 | 95644 | 0.0 |
| 539437 | 4.000%, 10/20/2043 | 511400 | 0.1 |
| 1095183 | 4.000%, 12/20/2044 | 1043608 | 0.1 |
| 933107 | 4.000%, 01/20/2045 | 889177 | 0.1 |
| 243575 | 4.000%, 06/20/2045 | 234377 | 0.0 |
| 1004532 | 4.000%, 07/20/2045 | 966597 | 0.1 |
| 1115762 | 4.000%, 09/20/2045 | 1072591 | 0.1 |
| 59329 | 4.000%, 12/20/2045 | 57095 | 0.0 |
| 178090 | 4.000%, 01/20/2046 | 170596 | 0.0 |
| 2234067 | 4.000%, 01/20/2046 | 2140060 | 0.2 |
| 51961 | 4.000%, 02/20/2046 | 49919 | 0.0 |
| 1232054 | 4.000%, 03/20/2046 | 1180209 | 0.1 |
| 616928 | 4.000%, 04/20/2046 | 592301 | 0.1 |
| 267969 | 4.000%, 08/20/2046 | 257106 | 0.0 |
| 976423 | 4.000%, 09/20/2047 | 919028 | 0.1 |
| 7537719 | 4.000%, 06/20/2052 | 7166455 | 0.7 |
| 9600000 <sup>(3)</sup> | 4.000%, 10/20/2055 | 9027950 | 0.8 |
| 176419 | 4.373%, 01/20/2065 | 175366 | 0.0 |
| 4357 | 4.373%, 10/20/2067 | 4327 | 0.0 |
| 2990 | 4.389%, 04/20/2066 | 2945 | 0.0 |
| 275258 | 4.390%, 02/20/2065 | 274119 | 0.0 |
| 8513 | 4.395%, 02/20/2068 | 8465 | 0.0 |
| 98583 | 4.450%, 07/15/2040 | 94577 | 0.0 |
| 55352 | 4.450%, 09/15/2040 | 53427 | 0.0 |
| 109997 | 4.479%, 01/20/2065 | 109447 | 0.0 |
| 3206 | 4.493%, 04/20/2065 | 3196 | 0.0 |
| 4085 | 4.500%, 07/20/2036 | 4089 | 0.0 |
| 313389 | 4.500%, 10/15/2039 | 318576 | 0.0 |
| 218243 | 4.500%, 11/15/2039 | 217570 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 226707 | 4.500%, 11/15/2039 | $226568 | 0.0 |
| 69304 | 4.500%, 12/15/2039 | 69218 | 0.0 |
| 174832 | 4.500%, 01/15/2040 | 173970 | 0.0 |
| 21416 | 4.500%, 01/20/2040 | 21068 | 0.0 |
| 847438 | 4.500%, 02/15/2040 | 838453 | 0.1 |
| 45541 | 4.500%, 06/15/2040 | 44824 | 0.0 |
| 20034 | 4.500%, 07/20/2040 | 19708 | 0.0 |
| 63030 | 4.500%, 08/20/2040 | 62238 | 0.0 |
| 453953 | 4.500%, 09/20/2041 | 456890 | 0.1 |
| 161938 | 4.500%, 10/20/2048 | 160087 | 0.0 |
| 75985 | 4.500%, 11/20/2048 | 75069 | 0.0 |
| 2311145 | 4.500%, 12/20/2048 | 2283297 | 0.2 |
| 57137 | 4.500%, 01/20/2049 | 56448 | 0.0 |
| 4034819 | 4.500%, 02/20/2049 | 3998465 | 0.4 |
| 195015 | 4.500%, 03/20/2049 | 193258 | 0.0 |
| 31712 | 4.500%, 05/20/2049 | 31218 | 0.0 |
| 3571997 | 4.500%, 11/20/2049 | 3484854 | 0.3 |
| 4411899 | 4.500%, 12/20/2049 | 4353306 | 0.4 |
| 616500 | 4.500%, 01/20/2053 | 602012 | 0.1 |
| 29750000 <sup>(3)</sup> | 4.500%, 10/20/2055 | 28854947 | 2.6 |
| 21260 | 4.580%, 01/20/2034 | 21075 | 0.0 |
| 33047 | 4.580%, 03/20/2034 | 32680 | 0.0 |
| 26026 | 4.580%, 04/20/2034 | 25737 | 0.0 |
| 33622 | 4.580%, 04/20/2034 | 33249 | 0.0 |
| 33163 | 4.580%, 06/20/2034 | 32796 | 0.0 |
| 28822 | 4.683%, 10/20/2064 | 28796 | 0.0 |
| 474 | 4.700%, 06/20/2061 | 468 | 0.0 |
| 2097 | 4.700%, 09/20/2062 | 2094 | 0.0 |
| 3717 | 4.700%, 09/20/2064 | 3665 | 0.0 |
| 10989 | 4.700%, 09/20/2064 | 10977 | 0.0 |
| 191313 | 4.750%, 06/15/2029 | 192302 | 0.0 |
| 39090 | 4.750%, 01/15/2030 | 39311 | 0.0 |
| 39352 | 4.750%, 06/20/2033 | 39192 | 0.0 |
| 13217 | 4.750%, 07/20/2033 | 13175 | 0.0 |
| 23234 | 4.750%, 07/20/2033 | 23018 | 0.0 |
| 35484 | 4.750%, 07/20/2033 | 35342 | 0.0 |
| 19766 | 4.750%, 08/20/2033 | 19671 | 0.0 |
| 36352 | 4.750%, 08/20/2033 | 36206 | 0.0 |
| 22877 | 4.750%, 10/20/2033 | 22791 | 0.0 |
| 18464 | 4.750%, 11/20/2033 | 18396 | 0.0 |
| 16587 | 4.750%, 12/20/2033 | 16485 | 0.0 |
| 117284 | 4.750%, 09/15/2034 | 117225 | 0.0 |
| 15368 | 4.920%, 04/20/2033 | 15241 | 0.0 |
| 33535 | 4.920%, 04/20/2033 | 33420 | 0.0 |
| 8865 | 4.920%, 05/20/2033 | 8832 | 0.0 |
| 20046 | 4.920%, 05/20/2033 | 19980 | 0.0 |
| 22023 | 4.920%, 05/20/2033 | 21950 | 0.0 |
| 252226 | 5.000%, 04/20/2030 | 254808 | 0.0 |
| 109972 | 5.000%, 07/15/2033 | 109920 | 0.0 |
| 23462 | 5.000%, 03/15/2034 | 23517 | 0.0 |
| 27063 | 5.000%, 01/15/2035 | 27429 | 0.0 |
| 6318 | 5.000%, 03/15/2035 | 6421 | 0.0 |
| 32953 | 5.000%, 03/15/2035 | 32696 | 0.0 |
| 14729 | 5.000%, 04/15/2035 | 14778 | 0.0 |
| 104972 | 5.000%, 04/15/2035 | 107133 | 0.0 |
| 9543 | 5.000%, 05/15/2035 | 9780 | 0.0 |
| 26428 | 5.000%, 05/20/2035 | 26986 | 0.0 |
| 152544 | 5.000%, 11/20/2035 | 156002 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 75971 | 5.000%, 04/20/2036 | $77508 | 0.0 |
| 12173 | 5.000%, 08/20/2038 | 12294 | 0.0 |
| 144223 | 5.000%, 10/20/2038 | 144587 | 0.0 |
| 25643 | 5.000%, 11/20/2038 | 25707 | 0.0 |
| 96882 | 5.000%, 01/20/2039 | 97823 | 0.0 |
| 30369 | 5.000%, 02/15/2039 | 31149 | 0.0 |
| 90821 | 5.000%, 03/15/2039 | 93701 | 0.0 |
| 337349 | 5.000%, 11/15/2039 | 343008 | 0.0 |
| 394608 | 5.000%, 11/15/2039 | 401028 | 0.1 |
| 37267 | 5.000%, 04/15/2040 | 38037 | 0.0 |
| 533333 | 5.000%, 09/15/2040 | 539985 | 0.1 |
| 341577 | 5.000%, 07/20/2041 | 349978 | 0.0 |
| 111275000 <sup>(3)</sup> | 5.000%, 11/20/2055 | 110554542 | 10.0 |
| 8277 | 5.250%, 06/15/2028 | 8339 | 0.0 |
| 23973 | 5.250%, 06/15/2029 | 24198 | 0.0 |
| 634938 | 5.250%, 01/20/2036 | 647692 | 0.1 |
| 94615 | 5.290%, 07/20/2037 | 99093 | 0.0 |
| 62005 | 5.290%, 08/20/2037 | 64788 | 0.0 |
| 82122 | 5.290%, 09/20/2037 | 85863 | 0.0 |
| 102048 | 5.290%, 09/20/2037 | 106884 | 0.0 |
| 95196 | 5.290%, 01/20/2038 | 99709 | 0.0 |
| 15580 | 5.350%, 04/20/2029 | 15549 | 0.0 |
| 13557 | 5.350%, 06/20/2029 | 13529 | 0.0 |
| 53747 | 5.350%, 07/20/2033 | 54383 | 0.0 |
| 56519 | 5.390%, 08/20/2038 | 56420 | 0.0 |
| 57454 | 5.390%, 09/15/2038 | 59969 | 0.0 |
| 19280 | 5.490%, 08/20/2033 | 19251 | 0.0 |
| 32181 | 5.490%, 09/20/2033 | 32146 | 0.0 |
| 34426 | 5.490%, 09/20/2033 | 34393 | 0.0 |
| 88515 | 5.490%, 09/20/2033 | 90117 | 0.0 |
| 116308 | 5.490%, 10/20/2033 | 116993 | 0.0 |
| 200246 | 5.490%, 10/20/2033 | 204691 | 0.0 |
| 102956 | 5.490%, 11/20/2033 | 103507 | 0.0 |
| 168809 | 5.490%, 11/20/2033 | 170622 | 0.0 |
| 90954 | 5.490%, 12/20/2033 | 91472 | 0.0 |
| 125139 | 5.490%, 12/20/2033 | 126291 | 0.0 |
| 167380 | 5.490%, 12/20/2033 | 169100 | 0.0 |
| 34849 | 5.490%, 01/20/2034 | 35735 | 0.0 |
| 29669 | 5.490%, 03/20/2034 | 30423 | 0.0 |
| 61696 | 5.490%, 03/20/2034 | 61807 | 0.0 |
| 30019 | 5.490%, 06/20/2034 | 30782 | 0.0 |
| 21 | 5.500%, 04/20/2029 | 21 | 0.0 |
| 62917 | 5.500%, 09/15/2029 | 63956 | 0.0 |
| 42814 | 5.500%, 10/15/2029 | 43400 | 0.0 |
| 14215 | 5.500%, 12/20/2032 | 14637 | 0.0 |
| 44754 | 5.500%, 08/20/2033 | 45886 | 0.0 |
| 40747 | 5.500%, 11/20/2033 | 40865 | 0.0 |
| 13207 | 5.500%, 12/20/2033 | 13550 | 0.0 |
| 48165 | 5.500%, 03/20/2034 | 48336 | 0.0 |
| 68229 | 5.500%, 04/20/2034 | 68503 | 0.0 |
| 78565 | 5.500%, 04/20/2034 | 81098 | 0.0 |
| 13253 | 5.500%, 06/20/2034 | 13241 | 0.0 |
| 72355 | 5.500%, 06/20/2034 | 73092 | 0.0 |
| 55215 | 5.500%, 07/20/2034 | 56934 | 0.0 |
| 81296 | 5.500%, 01/20/2035 | 81642 | 0.0 |
| 55294 | 5.500%, 05/15/2035 | 57285 | 0.0 |
| 91612 | 5.500%, 07/15/2035 | 91978 | 0.0 |
| 63931 | 5.500%, 08/15/2035 | 66229 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 65387 | 5.500%, 09/20/2035 | $— | 66759 | 0.0 |
| 120890 | 5.500%, 04/15/2036 |  | 127118 | 0.0 |
| 19928 | 5.500%, 06/20/2036 |  | 20612 | 0.0 |
| 1717 | 5.500%, 06/20/2038 |  | 1720 | 0.0 |
| 10044 | 5.500%, 08/20/2038 |  | 10081 | 0.0 |
| 6525 | 5.500%, 09/20/2038 |  | 6530 | 0.0 |
| 1288 | 5.500%, 10/20/2038 |  | 1283 | 0.0 |
| 13147 | 5.500%, 11/20/2038 |  | 13176 | 0.0 |
| 649 | 5.500%, 12/20/2038 |  | 649 | 0.0 |
| 41232 | 5.500%, 01/15/2039 |  | 42720 | 0.0 |
| 4980 | 5.500%, 01/20/2039 |  | 4984 | 0.0 |
| 19752 | 5.500%, 06/15/2039 |  | 20769 | 0.0 |
| 69594 | 5.500%, 06/20/2039 |  | 69298 | 0.0 |
| 15488 | 5.500%, 10/20/2039 |  | 16021 | 0.0 |
| 144763 | 5.500%, 09/15/2040 |  | 150150 | 0.0 |
| 1185663 | 5.500%, 05/20/2054 |  | 1209786 | 0.1 |
| 1847796 | 5.500%, 05/20/2054 |  | 1878878 | 0.2 |
| 2018021 | 5.500%, 05/20/2054 |  | 2055520 | 0.2 |
| 94500000 <sup>(3)</sup> | 5.500%, 10/20/2055 |  | 95218061 | 8.6 |
| 29443 | 5.580%, 12/20/2033 |  | 30473 | 0.0 |
| 50628 | 5.580%, 01/20/2034 |  | 51757 | 0.0 |
| 37256 | 5.580%, 02/20/2034 |  | 38473 | 0.0 |
| 30314 | 5.580%, 03/20/2034 |  | 31304 | 0.0 |
| 36121 | 5.580%, 04/20/2034 |  | 37402 | 0.0 |
| 46737 | 5.580%, 04/20/2034 |  | 48221 | 0.0 |
| 97648 | 5.580%, 04/20/2034 |  | 100839 | 0.0 |
| 26880 | 5.580%, 06/20/2034 |  | 27897 | 0.0 |
| 42825 | 5.580%, 09/20/2034 |  | 44344 | 0.0 |
| 81597 | 5.590%, 06/20/2033 |  | 82207 | 0.0 |
| 9745 | 5.590%, 07/20/2033 |  | 9799 | 0.0 |
| 23012 | 5.590%, 07/20/2033 |  | 22988 | 0.0 |
| 69360 | 5.590%, 07/20/2033 |  | 69577 | 0.0 |
| 106747 | 5.590%, 07/20/2033 |  | 107773 | 0.0 |
| 59308 | 5.590%, 08/20/2033 |  | 59475 | 0.0 |
| 15395 | 5.590%, 09/20/2033 |  | 15650 | 0.0 |
| 31012 | 5.590%, 09/20/2033 |  | 30989 | 0.0 |
| 117765 | 5.590%, 09/20/2033 |  | 119105 | 0.0 |
| 20033 | 5.590%, 11/20/2033 |  | 20011 | 0.0 |
| 35373 | 5.590%, 11/20/2033 |  | 35357 | 0.0 |
| 57127 | 5.590%, 12/20/2033 |  | 58008 | 0.0 |
| 66915 | 5.740%, 09/20/2037 |  | 69314 | 0.0 |
| 206667 | 5.740%, 09/20/2037 |  | 213623 | 0.0 |
| 69836 | 5.740%, 04/20/2038 |  | 72336 | 0.0 |
| 136779 | 5.750%, 07/15/2029 |  | 138911 | 0.0 |
| 63446 | 5.750%, 08/15/2029 |  | 64079 | 0.0 |
| 16496 | 5.750%, 11/15/2029 |  | 16747 | 0.0 |
| 126904 | 5.750%, 11/15/2029 |  | 128880 | 0.0 |
| 28953 | 5.770%, 03/20/2033 |  | 29371 | 0.0 |
| 101744 | 5.770%, 03/20/2033 |  | 102885 | 0.0 |
| 25048 | 5.770%, 04/20/2033 |  | 25412 | 0.0 |
| 52721 | 5.770%, 04/20/2033 |  | 53700 | 0.0 |
| 59135 | 5.770%, 05/20/2033 |  | 59415 | 0.0 |
| 66135 | 5.770%, 05/20/2033 |  | 66465 | 0.0 |
| 11368 | 5.770%, 07/20/2033 |  | 11399 | 0.0 |
| 29018 | 5.770%, 07/20/2033 |  | 29537 | 0.0 |
| 13901 | 5.900%, 05/20/2028 |  | 14095 | 0.0 |
| 819357 | 5.970%, 11/15/2031 |  | 818119 | 0.1 |
| 376 | 6.000%, 04/15/2026 |  | 375 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 43550 | 6.000%, 05/15/2029 | $| 44053 | 0.0 |
| 12958 | 6.000%, 07/15/2029 |  | 13212 | 0.0 |
| 27778 | 6.000%, 10/20/2034 |  | 29117 | 0.0 |
| 71767 | 6.000%, 03/15/2037 |  | 75654 | 0.0 |
| 47293 | 6.000%, 08/20/2038 |  | 47840 | 0.0 |
| 7339 | 6.000%, 09/20/2038 |  | 7485 | 0.0 |
| 11379 | 6.000%, 10/20/2038 |  | 11706 | 0.0 |
| 59576 | 6.000%, 11/15/2038 |  | 61578 | 0.0 |
| 64089 | 6.000%, 12/15/2038 |  | 66244 | 0.0 |
| 35494 | 6.000%, 08/15/2039 |  | 36370 | 0.0 |
| 61997 | 6.000%, 08/15/2039 |  | 63909 | 0.0 |
| 73593000 <sup>(3)</sup> | 6.000%, 10/20/2055 |  | 74856579 | 6.8 |
| 6680 | 6.500%, 07/20/2029 |  | 6872 | 0.0 |
| 29096 | 6.500%, 07/20/2032 |  | 29705 | 0.0 |
| 26131 | 6.500%, 02/15/2034 |  | 26094 | 0.0 |
| 139 | 6.500%, 09/20/2034 |  | 140 | 0.0 |
| 921 | 7.500%, 08/20/2027 |  | 931 | 0.0 |
|  |  |  | **680384260** | **61.3** |
|  | **Uniform Mortgage-Backed Securities: 2.6%** | **Uniform Mortgage-Backed Securities: 2.6%** | **Uniform Mortgage-Backed Securities: 2.6%** | **Uniform Mortgage-Backed Securities: 2.6%** |
| 2391278 | 2.000%, 12/01/2051 |  | 1940217 | 0.2 |
| 2273470 | 2.500%, 12/01/2051 |  | 1929054 | 0.2 |
| 1348910 | 2.500%, 02/01/2052 |  | 1159301 | 0.1 |
| 2023795 | 3.000%, 11/01/2051 |  | 1789559 | 0.2 |
| 1303888 | 3.000%, 01/01/2052 |  | 1156702 | 0.1 |
| 1267472 | 3.500%, 02/01/2052 |  | 1166259 | 0.1 |
| 4109353 | 3.500%, 03/01/2052 |  | 3810557 | 0.4 |
| 4063796 | 4.000%, 05/01/2042 |  | 3954602 | 0.4 |
| 253431 | 4.000%, 05/01/2045 |  | 244135 | 0.0 |
| 295773 | 4.000%, 08/01/2046 |  | 284526 | 0.0 |
| 255300 | 4.250%, 08/01/2035 |  | 255400 | 0.0 |
| 3691148 | 4.500%, 07/01/2052 |  | 3599651 | 0.3 |
| 5083000 <sup>(3)</sup> | 4.500%, 10/01/2055 |  | 4930979 | 0.5 |
| 39713 | 4.750%, 11/01/2034 |  | 40342 | 0.0 |
| 176927 | 4.750%, 11/01/2034 |  | 176240 | 0.0 |
| 127742 | 4.750%, 02/01/2035 |  | 129736 | 0.0 |
| 235342 | 4.750%, 04/01/2035 |  | 239163 | 0.0 |
| 315599 | 4.750%, 05/01/2035 |  | 320757 | 0.1 |
| 57160 | 4.750%, 07/01/2035 |  | 57549 | 0.0 |
| 299310 | 4.750%, 07/01/2035 |  | 304171 | 0.0 |
| 5859 | 5.030%, 05/01/2037 |  | 5889 | 0.0 |
| 80087 | 5.030%, 09/01/2037 |  | 82214 | 0.0 |
| 43835 | 5.155%, 01/01/2037 |  | 45144 | 0.0 |
| 23588 | 5.250%, 04/01/2032 |  | 23691 | 0.0 |
| 26023 | 5.250%, 04/01/2032 |  | 26429 | 0.0 |
| 21409 | 5.280%, 11/01/2036 |  | 22125 | 0.0 |
| 36255 | 5.280%, 01/01/2037 |  | 37459 | 0.0 |
| 70550 | 5.290%, 08/01/2037 |  | 73137 | 0.0 |
| 51676 | 5.290%, 09/01/2037 |  | 53570 | 0.0 |
| 55784 | 5.290%, 09/01/2037 |  | 57691 | 0.0 |
| 8305 | 5.300%, 10/01/2036 |  | 8454 | 0.0 |
| 51353 | 5.300%, 12/01/2036 |  | 52491 | 0.0 |
| 39528 | 5.300%, 05/01/2037 |  | 40985 | 0.0 |
| 172908 | 5.300%, 08/01/2037 |  | 177539 | 0.0 |
| 82857 | 5.390%, 12/01/2037 |  | 82941 | 0.0 |
| 133601 | 5.405%, 11/01/2036 |  | 138698 | 0.0 |
| 165342 | 5.405%, 02/01/2037 |  | 171606 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 45594 | 5.740%, 07/01/2037 | $| 47050 | 0.0 |
|  |  |  | **28636013** | **2.6** |
|  | Total U.S. Government Agency Obligations |  |  |  |
|  | (Cost $762,479,897) |  | **730281729** | **65.8** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 58.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 58.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 58.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 58.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 58.3%** |
| 96680 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W1 3A, 4.093%, 04/25/2042 |  | 93366 | 0.0 |
| 429734 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W6 3A, 5.280%, 01/25/2042 |  | 415333 | 0.0 |
| 2839413 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 |  | 2872037 | 0.3 |
| 387238 | Fannie Mae REMIC Trust 2003-16 CX, 6.500%, 03/25/2033 |  | 405849 | 0.0 |
| 1288067 | Fannie Mae REMIC Trust 2003-34 LN, 5.000%, 05/25/2033 |  | 1306803 | 0.1 |
| 2163916 | Fannie Mae REMIC Trust 2003-W15 2A7, 5.550%, 08/25/2043 |  | 2178114 | 0.2 |
| 2298785 | Fannie Mae REMIC Trust 2004-28 PZ, 6.000%, 05/25/2034 |  | 2342441 | 0.2 |
| 58921 <sup>(4)</sup> | Fannie Mae REMIC Trust 2004-61 SH, 6.115%, (-1.000\*SOFR30A + 23.530%), 11/25/2032 |  | 65575 | 0.0 |
| 58413 | Fannie Mae REMIC Trust 2004-68 LC, 5.000%, 09/25/2029 |  | 58984 | 0.0 |
| 1367850 | Fannie Mae REMIC Trust 2004-88 ZC, 6.500%, 12/25/2034 |  | 1467420 | 0.1 |
| 1333787 <sup>(4)</sup> | Fannie Mae REMIC Trust 2004-W11 2A, 4.912%, 03/25/2043 |  | 1273622 | 0.1 |
| 1803922 | Fannie Mae REMIC Trust 2004-W3 A8, 5.500%, 05/25/2034 |  | 1849078 | 0.2 |
| 51392 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-122 SE, 7.453%, (-1.000\*SOFR30A + 22.699%), 11/25/2035 |  | 52390 | 0.0 |
| 3372723 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-17 B, 6.500%, 03/25/2035 |  | 3529535 | 0.3 |
| 32267 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2005-17 ES, 2.279%, (-1.000\*SOFR30A + 6.636%), 03/25/2035 |  | 280 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1339903 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2005-17 SA, 2.229%, (-1.000\*SOFR30A + 6.586%), 03/25/2035 | $118444 | 0.0 |
| 844430 | Fannie Mae REMIC Trust 2005-43 PZ, 6.000%, 05/25/2035 | 890205 | 0.1 |
| 61454 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-59 NQ, 5.699%, (-1.000\*SOFR30A + 16.589%), 05/25/2035 | 62570 | 0.0 |
| 153906 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-75 GS, 6.838%, (-1.000\*SOFR30A + 19.907%), 08/25/2035 | 164562 | 0.0 |
| 274859 | Fannie Mae REMIC Trust 2005-88 ZC, 5.000%, 10/25/2035 | 280585 | 0.0 |
| 1861549 | Fannie Mae REMIC Trust 2005-99 XA, 5.500%, 12/25/2035 | 1903207 | 0.2 |
| 38470 <sup>(4)</sup> | Fannie Mae REMIC Trust 2006-115 ES, 8.678%, (-1.000\*SOFR30A + 26.102%), 12/25/2036 | 45141 | 0.0 |
| 227802 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-36 SP, 2.229%, (-1.000\*SOFR30A + 6.586%), 05/25/2036 | 15594 | 0.0 |
| 10272 <sup>(6)</sup> | Fannie Mae REMIC Trust 2006-44 P, 0.000%, 12/25/2033 | 8864 | 0.0 |
| 1438841 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-79 SH, 1.979%, (-1.000\*SOFR30A + 6.336%), 08/25/2036 | 128550 | 0.0 |
| 2554097 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-8 HL, 2.229%, (-1.000\*SOFR30A + 6.586%), 03/25/2036 | 206814 | 0.0 |
| 580446 <sup>(4)</sup> | Fannie Mae REMIC Trust 2007-1 NR, 13.524%, (-1.000\*SOFR30A + 46.630%), 02/25/2037 | 894810 | 0.1 |
| 350666 | Fannie Mae REMIC Trust 2007-60 ZB, 4.750%, 05/25/2037 | 351882 | 0.0 |
| 83345 <sup>(4)</sup> | Fannie Mae REMIC Trust 2009-12 LK, 14.030%, 03/25/2039 | 94329 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 4393006 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2010-147 LS, 1.979%, (-1.000\*SOFR30A + 6.336%), 01/25/2041 | $483263 | 0.0 |
| 610693 <sup>(4)</sup> | Fannie Mae REMIC Trust 2010-26 F, 5.241%, (SOFR30A + 0.884%), 11/25/2036 | 613475 | 0.1 |
| 629565 <sup>(4)</sup> | Fannie Mae REMIC Trust 2010-39 FN, 5.301%, (SOFR30A + 0.944%), 05/25/2040 | 632848 | 0.1 |
| 409285 | Fannie Mae REMIC Trust 2010-80 PZ, 5.000%, 07/25/2040 | 416399 | 0.0 |
| 746417 | Fannie Mae REMIC Trust 2010-87 PL, 4.000%, 06/25/2040 | 737737 | 0.1 |
| 1094656 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2010-95 SB, 2.129%, (-1.000\*SOFR30A + 6.486%), 09/25/2040 | 82019 | 0.0 |
| 849943 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 867832 | 0.1 |
| 750000 | Fannie Mae REMIC Trust 2011-105 MB, 4.000%, 10/25/2041 | 677386 | 0.1 |
| 941077 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 960887 | 0.1 |
| 920995 <sup>(4)</sup> | Fannie Mae REMIC Trust 2011-4 CS, 3.959%, (-1.000\*SOFR30A + 12.671%), 05/25/2040 | 949424 | 0.1 |
| 4116712 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 4103517 | 0.4 |
| 1763222 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2012-128 VS, 1.779%, (-1.000\*SOFR30A + 6.136%), 06/25/2042 | 85203 | 0.0 |
| 470644 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-137 EI, 3.000%, 12/25/2027 | 8729 | 0.0 |
| 233002 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-142 BI, 3.000%, 11/25/2027 | 1937 | 0.0 |
| 2916762 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-148 HI, 3.500%, 05/25/2042 | 280668 | 0.0 |
| 2308724 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-148 IM, 3.000%, 01/25/2028 | 51499 | 0.0 |
| 1246660 | Fannie Mae REMIC Trust 2012-148 KH, 3.000%, 03/25/2042 | 1204693 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1058122 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-154 PI, 4.000%, 05/25/2042 | $119547 | 0.0 |
| 3072936 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 2998499 | 0.3 |
| 2607506 | Fannie Mae REMIC Trust 2012-27 EZ, 4.250%, 03/25/2042 | 2533588 | 0.2 |
| 2500000 | Fannie Mae REMIC Trust 2012-40 MY, 3.500%, 04/25/2042 | 2338648 | 0.2 |
| 1700000 | Fannie Mae REMIC Trust 2012-66 KE, 4.000%, 06/25/2042 | 1632294 | 0.2 |
| 584203 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2012-68 SD, 2.229%, (-1.000\*SOFR30A + 6.586%), 06/25/2032 | 33901 | 0.0 |
| 3457000 | Fannie Mae REMIC Trust 2012-97 PC, 3.500%, 09/25/2042 | 2969494 | 0.3 |
| 858813 | Fannie Mae REMIC Trust 2013-125 AZ, 4.000%, 11/25/2039 | 761832 | 0.1 |
| 300197 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-13 PI, 3.500%, 04/25/2042 | 18356 | 0.0 |
| 897924 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-135 PO, 0.000%, 01/25/2044 | 658469 | 0.1 |
| 42927 | Fannie Mae REMIC Trust 2013-18 NA, 2.000%, 12/25/2042 | 38561 | 0.0 |
| 1118592 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-25 BI, 3.000%, 03/25/2033 | 72999 | 0.0 |
| 656012 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-54 ID, 3.000%, 01/25/2033 | 30227 | 0.0 |
| 1059922 | Fannie Mae REMIC Trust 2013-55 VZ, 3.000%, 06/25/2043 | 972074 | 0.1 |
| 1108434 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-62 AI, 3.000%, 06/25/2033 | 81762 | 0.0 |
| 1401927 | Fannie Mae REMIC Trust 2015-22 DY, 3.000%, 04/25/2045 | 1098839 | 0.1 |
| 1446917 | Fannie Mae REMIC Trust 2015-26 UZ, 3.000%, 05/25/2045 | 1213145 | 0.1 |
| 711932 | Fannie Mae REMIC Trust 2015-68 JW, 3.500%, 09/25/2030 | 693069 | 0.1 |
| 2630000 | Fannie Mae REMIC Trust 2016-103 PB, 3.000%, 01/25/2047 | 2348554 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 3437586 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2016-4 DS, 1.629%, (-1.000\*SOFR30A + 5.986%), 02/25/2046 | $399572 | 0.0 |
| 1990157 <sup>(4)</sup> | Fannie Mae REMIC Trust 2016-51 S, 1.449%, (-1.000\*SOFR30A + 5.806%), 10/25/2043 | 1726824 | 0.2 |
| 4333554 | Fannie Mae REMIC Trust 2016-64 LD, 3.500%, 09/25/2046 | 4005932 | 0.4 |
| 5577528 | Fannie Mae REMIC Trust 2017-22 DZ, 4.000%, 04/25/2047 | 5337786 | 0.5 |
| 443764 | Fannie Mae REMIC Trust 2018-25 AL, 3.500%, 04/25/2048 | 403892 | 0.0 |
| 539682 | Fannie Mae REMIC Trust 2018-37 DZ, 4.000%, 06/25/2048 | 515882 | 0.1 |
| 2944970 <sup>(5)</sup> | Fannie Mae REMIC Trust 2019-49 IG, 3.000%, 03/25/2033 | 200130 | 0.0 |
| 2842009 | Fannie Mae REMIC Trust 2019-6 GZ, 4.000%, 03/25/2059 | 2574459 | 0.2 |
| 15549392 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-34 AI, 3.500%, 06/25/2035 | 1143597 | 0.1 |
| 2123951 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-44 TI, 5.500%, 12/25/2035 | 295348 | 0.0 |
| 22476320 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-89 KI, 4.000%, 12/25/2050 | 4265197 | 0.4 |
| 3816287 | Fannie Mae REMIC Trust 2023-55 AY, 6.500%, 11/25/2053 | 4013991 | 0.4 |
| 16831504 <sup>(4)</sup> | Fannie Mae REMIC Trust 2025-1 FE, 5.806%, (SOFR30A + 1.450%), 02/25/2055 | 16987758 | 1.5 |
| 7626941 | Fannie Mae REMIC Trust 2025-4 PZ, 5.500%, 07/25/2054 | 7660575 | 0.7 |
| 806430 <sup>(4)</sup> | Fannie Mae Trust 2004-W2 3A, 5.011%, 02/25/2044 | 816456 | 0.1 |
| 602064 <sup>(4)</sup> | Fannie Mae Trust 2004-W2 4A, 4.870%, 02/25/2044 | 595270 | 0.1 |
| 173746 <sup>(4)</sup> | Freddie Mac REMIC Trust 2653 SC, 4.565%, (-1.000\*SOFR30A + 6.743%), 07/15/2033 | 174328 | 0.0 |
| 391106 | Freddie Mac REMIC Trust 2767 ZW, 6.000%, 03/15/2034 | 408144 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 82531 <sup>(6)</sup> | Freddie Mac REMIC Trust 2974 KO, 0.000%, 05/15/2035 | $68356 | 0.0 |
| 15323 <sup>(4)</sup> | Freddie Mac REMIC Trust 3012 ST, 5.808%, (-1.000\*SOFR30A + 21.548%), 04/15/2035 | 15638 | 0.0 |
| 107387 <sup>(4)</sup> | Freddie Mac REMIC Trust 3065 DC, 6.400%, (-1.000\*SOFR30A + 19.517%), 03/15/2035 | 116349 | 0.0 |
| 187739 | Freddie Mac REMIC Trust 3158 NE, 5.500%, 05/15/2036 | 194210 | 0.0 |
| 1862383 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 3181 TA, 0.500%, (-1.000\*SOFR30A + 5.544%), 07/15/2036 | 28327 | 0.0 |
| 4479151 | Freddie Mac REMIC Trust 3196 ZK, 6.500%, 04/15/2032 | 4668900 | 0.4 |
| 80912 <sup>(5)</sup> | Freddie Mac REMIC Trust 3507 IA, 5.500%, 09/15/2035 | 8495 | 0.0 |
| 915564 | Freddie Mac REMIC Trust 3658 CZ, 5.000%, 04/15/2040 | 935503 | 0.1 |
| 2903542 | Freddie Mac REMIC Trust 3770 GA, 4.500%, 10/15/2040 | 2926650 | 0.3 |
| 154189 <sup>(4)</sup> | Freddie Mac REMIC Trust 3864 NT, 5.500%, (-1.000\*SOFR30A + 59.451%), 03/15/2039 | 154901 | 0.0 |
| 814479 | Freddie Mac REMIC Trust 3888 ZG, 4.000%, 07/15/2041 | 789180 | 0.1 |
| 3136611 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 3960 SG, 1.513%, (-1.000\*SOFR30A + 5.886%), 11/15/2041 | 297618 | 0.0 |
| 1648362 | Freddie Mac REMIC Trust 4040 UZ, 5.000%, 05/15/2042 | 1628162 | 0.2 |
| 5075000 | Freddie Mac REMIC Trust 4059 DY, 3.500%, 06/15/2042 | 4867444 | 0.4 |
| 976495 | Freddie Mac REMIC Trust 4097 ZA, 3.500%, 08/15/2042 | 926864 | 0.1 |
| 3890061 | Freddie Mac REMIC Trust 4136 ZG, 3.000%, 11/15/2042 | 3590977 | 0.3 |
| 8921331 | Freddie Mac REMIC Trust 4159 LZ, 3.500%, 01/15/2043 | 8459604 | 0.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1882489 <sup>(5)</sup> | Freddie Mac REMIC Trust 4176 IA, 2.500%, 03/15/2028 | $38424 | 0.0 |
| 1871677 <sup>(4)</sup> | Freddie Mac REMIC Trust 4249 CS, 1.298%, (-1.000\*SOFR30A + 4.564%), 09/15/2043 | 1434272 | 0.1 |
| 2333235 <sup>(4)</sup> | Freddie Mac REMIC Trust 4274 US, 1.363%, (-1.000\*SOFR30A + 5.736%), 10/15/2035 | 2134637 | 0.2 |
| 9840575 | Freddie Mac REMIC Trust 4367 MZ, 4.000%, 07/15/2044 | 9532187 | 0.9 |
| 2363674 | Freddie Mac REMIC Trust 4372 Z, 3.000%, 08/15/2044 | 2169934 | 0.2 |
| 4797532 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 4438 AS, 1.713%, (-1.000\*SOFR30A + 6.086%), 02/15/2045 | 436008 | 0.0 |
| 4705119 | Freddie Mac REMIC Trust 4480 ZX, 4.000%, 11/15/2044 | 4604626 | 0.4 |
| 3339812 | Freddie Mac REMIC Trust 4631 CZ, 3.500%, 11/15/2046 | 3131034 | 0.3 |
| 1937447 | Freddie Mac REMIC Trust 4818 GZ, 4.000%, 08/15/2048 | 1849971 | 0.2 |
| 2213868 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | 1974452 | 0.2 |
| 2597868 | Freddie Mac REMIC Trust 5000 DC, 2.500%, 03/25/2040 | 2294193 | 0.2 |
| 18341668 <sup>(5)</sup> | Freddie Mac REMIC Trust 5013 QI, 3.500%, 09/25/2050 | 3437206 | 0.3 |
| 8800000 | Freddie Mac REMIC Trust 5361 BY, 7.000%, 12/25/2053 | 9614623 | 0.9 |
| 4643779 | Freddie Mac REMIC Trust 5369 B, 6.000%, 01/25/2054 | 4814622 | 0.4 |
| 1184122 <sup>(4)</sup> | Freddie Mac Securities REMIC Trust 2005-S001 2A2, 4.587%, (TSFR1M + 0.264%), 09/25/2045 | 1161103 | 0.1 |
| 653172 <sup>(4)</sup> | Freddie Mac Structured Pass-Through Certificates T-48 2A, 4.451%, 07/25/2033 | 624060 | 0.1 |
| 337735 <sup>(4)</sup> | Freddie Mac Structured Pass-Through Certificates T-54 4A, 4.257%, 02/25/2043 | 326899 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 6320068 | Freddie Mac Whole Loan Securities Trust 2017-SC02 1A2, 3.000%, 05/25/2047 | $5435432 | 0.5 |
| 42457 | Ginnie Mae 2004-16 AE, 5.500%, 02/20/2034 | 42896 | 0.0 |
| 290324 | Ginnie Mae 2004-28 CZ, 5.500%, 04/20/2034 | 294979 | 0.0 |
| 143338 <sup>(6)</sup> | Ginnie Mae 2004-37 OA, 0.000%, 04/17/2034 | 124753 | 0.0 |
| 415335 | Ginnie Mae 2004-65 ZG, 5.500%, 07/20/2034 | 422513 | 0.0 |
| 1017017 | Ginnie Mae 2004-81 Z, 5.000%, 10/20/2034 | 1013975 | 0.1 |
| 436120 <sup>(4)(5)</sup> | Ginnie Mae 2004-98 SA, 2.450%, (-1.000\*TSFR1M + 6.586%), 11/20/2034 | 38578 | 0.0 |
| 362437 | Ginnie Mae 2005-21 Z, 5.000%, 03/20/2035 | 364388 | 0.0 |
| 42207 <sup>(4)(5)</sup> | Ginnie Mae 2005-25 SI, 6.000%, (-1.000\*TSFR1M + 42.513%), 01/20/2034 | 5198 | 0.0 |
| 199094 <sup>(4)(5)</sup> | Ginnie Mae 2005-7 AH, 2.509%, (-1.000\*TSFR1M + 6.656%), 02/16/2035 | 15065 | 0.0 |
| 586025 | Ginnie Mae 2005-80 Z, 5.000%, 10/20/2035 | 588612 | 0.1 |
| 12049 <sup>(4)</sup> | Ginnie Mae 2005-91 UP, 5.777%, (-1.000\*TSFR1M + 14.071%), 09/16/2031 | 12184 | 0.0 |
| 1312859 | Ginnie Mae 2006-17 TW, 6.000%, 04/20/2036 | 1323536 | 0.1 |
| 33502 <sup>(4)</sup> | Ginnie Mae 2006-61 FA, 4.500%, (TSFR1M + 0.364%), 11/20/2036 | 33503 | 0.0 |
| 898111 | Ginnie Mae 2006-7 ZA, 5.500%, 02/20/2036 | 915365 | 0.1 |
| 600911 <sup>(5)</sup> | Ginnie Mae 2007-17 CI, 7.500%, 04/16/2037 | 81494 | 0.0 |
| 718238 <sup>(6)</sup> | Ginnie Mae 2007-41 OL, 0.000%, 07/20/2037 | 598593 | 0.1 |
| 40437 | Ginnie Mae 2007-45 PE, 5.500%, 07/16/2037 | 41022 | 0.0 |
| 158829 <sup>(4)</sup> | Ginnie Mae 2007-48 SY, 7.466%, (-1.000\*TSFR1M + 19.907%), 08/16/2037 | 161261 | 0.0 |
| 27321 <sup>(4)</sup> | Ginnie Mae 2007-53 SW, 7.455%, (-1.000\*TSFR1M + 19.862%), 09/20/2037 | 30100 | 0.0 |
| 459657 | Ginnie Mae 2007-60 YZ, 5.500%, 10/20/2037 | 458569 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 260865 <sup>(4)(5)</sup> | Ginnie Mae 2008-3 SA, 2.300%, (-1.000\*TSFR1M + 6.436%), 01/20/2038 | $26755 | 0 |
| 343378 <sup>(4)(5)</sup> | Ginnie Mae 2008-40 PS, 2.239%, (-1.000\*TSFR1M + 6.386%), 05/16/2038 | 21348 | 0 |
| 591371 <sup>(4)(5)</sup> | Ginnie Mae 2008-51 GS, 1.969%, (-1.000\*TSFR1M + 6.116%), 06/16/2038 | 54066 | 0 |
| 1105429 <sup>(4)(5)</sup> | Ginnie Mae 2008-82 SA, 1.750%, (-1.000\*TSFR1M + 5.886%), 09/20/2038 | 91486 | 0 |
| 126948 <sup>(4)(5)</sup> | Ginnie Mae 2009-110 SA, 2.089%, (-1.000\*TSFR1M + 6.236%), 04/16/2039 | 429 | 0 |
| 7224702 | Ginnie Mae 2009-110 ZA, 5.500%, 11/16/2039 | 7372386 | 0.7 |
| 1018184 | Ginnie Mae 2009-110 ZC, 4.500%, 11/16/2039 | 1005222 | 0.1 |
| 1560345 | Ginnie Mae 2009-118 XZ, 5.000%, 12/20/2039 | 1602194 | 0.1 |
| 725686 | Ginnie Mae 2009-121 ZQ, 5.500%, 09/20/2039 | 749020 | 0.1 |
| 633014 | Ginnie Mae 2009-31 BP, 5.000%, 05/20/2039 | 641622 | 0.1 |
| 947023 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 954513 | 0.1 |
| 1004694 | Ginnie Mae 2009-32 QZ, 5.500%, 05/16/2039 | 1024980 | 0.1 |
| 825974 | Ginnie Mae 2009-32 YZ, 7.000%, 05/16/2039 | 850201 | 0.1 |
| 978116 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 983759 | 0.1 |
| 1212022 | Ginnie Mae 2009-53 ZB, 6.000%, 07/16/2039 | 1266136 | 0.1 |
| 241433 | Ginnie Mae 2009-54 HZ, 5.000%, 07/20/2039 | 247848 | 0 |
| 118499 <sup>(4)(5)</sup> | Ginnie Mae 2009-55 BI, 1.000%, (-1.000\*TSFR1M + 159.638%), 06/16/2037 | 3783 | 0 |
| 1690195 | Ginnie Mae 2009-61 EZ, 7.500%, 08/20/2039 | 1783593 | 0.2 |
| 8617658 | Ginnie Mae 2009-61 PZ, 7.500%, 08/20/2039 | 9162634 | 0.8 |
| 10472958 | Ginnie Mae 2009-61 ZQ, 6.000%, 08/16/2039 | 10838335 | 1 |
| 403233 <sup>(4)(5)</sup> | Ginnie Mae 2009-66 QS, 1.850%, (-1.000\*TSFR1M + 5.986%), 07/20/2039 | 15665 | 0 |
| 3479640 | Ginnie Mae 2009-68 ZC, 5.500%, 08/16/2039 | 3594107 | 0.3 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 345423 <sup>(4)(5)</sup> | Ginnie Mae 2009-77 SA, 1.889%, (-1.000\*TSFR1M + 6.036%), 09/16/2039 | $28332 | 0.0 |
| 2722011 | Ginnie Mae 2009-77 ZB, 5.500%, 09/16/2039 | 2833766 | 0.3 |
| 1409815 | Ginnie Mae 2009-79 PZ, 6.000%, 09/20/2039 | 1443138 | 0.1 |
| 766426 | Ginnie Mae 2009-87 PZ, 5.500%, 10/20/2039 | 799236 | 0.1 |
| 2799894 | Ginnie Mae 2009-87 WZ, 6.000%, 10/20/2039 | 2900627 | 0.3 |
| 776854 | Ginnie Mae 2009-92 DZ, 4.500%, 10/16/2039 | 767970 | 0.1 |
| 1880732 | Ginnie Mae 2009-98 MZ, 5.000%, 10/16/2039 | 1916942 | 0.2 |
| 162386 <sup>(4)</sup> | Ginnie Mae 2009-H01 FA, 5.400%, (TSFR1M + 1.264%), 11/20/2059 | 163728 | 0.0 |
| 361452 <sup>(5)</sup> | Ginnie Mae 2010-106 IP, 5.000%, 03/20/2040 | 15298 | 0.0 |
| 5155337 | Ginnie Mae 2010-113 BE, 4.500%, 09/20/2040 | 5178045 | 0.5 |
| 461394 <sup>(4)(5)</sup> | Ginnie Mae 2010-116 NS, 2.389%, (-1.000\*TSFR1M + 6.536%), 09/16/2040 | 35325 | 0.0 |
| 1905864 | Ginnie Mae 2010-116 PB, 5.000%, 06/16/2040 | 1959279 | 0.2 |
| 4359678 | Ginnie Mae 2010-117 ZQ, 4.500%, 09/20/2040 | 4297438 | 0.4 |
| 918000 | Ginnie Mae 2010-121 TB, 4.000%, 09/20/2040 | 879560 | 0.1 |
| 1776367 | Ginnie Mae 2010-125 BZ, 4.500%, 09/16/2040 | 1774389 | 0.2 |
| 482442 <sup>(4)(5)</sup> | Ginnie Mae 2010-158 SA, 1.800%, (-1.000\*TSFR1M + 5.936%), 12/20/2040 | 51218 | 0.0 |
| 654277 | Ginnie Mae 2010-162 ZE, 4.000%, 12/16/2040 | 636247 | 0.1 |
| 5314595 <sup>(4)(5)</sup> | Ginnie Mae 2010-166 GS, 1.750%, (-1.000\*TSFR1M + 5.886%), 12/20/2040 | 536678 | 0.1 |
| 413728 | Ginnie Mae 2010-169 AW, 4.500%, 12/20/2040 | 415033 | 0.0 |
| 678639 | Ginnie Mae 2010-31 BP, 5.000%, 03/20/2040 | 689614 | 0.1 |
| 332825 <sup>(5)</sup> | Ginnie Mae 2010-4 WI, 6.000%, 01/16/2040 | 41704 | 0.0 |
| 3743868 | Ginnie Mae 2010-42 VZ, 5.500%, 10/20/2039 | 3939092 | 0.4 |
| 533358 | Ginnie Mae 2010-59 ZA, 4.500%, 05/20/2040 | 535160 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 176062 <sup>(4)</sup> | Ginnie Mae 2010-H11 FA, 5.429%, (TSFR1M + 1.114%), 06/20/2060 | $177227 | 0.0 |
| 828000 <sup>(4)</sup> | Ginnie Mae 2010-H20 AF, 4.796%, (TSFR1M + 0.444%), 10/20/2060 | 826577 | 0.1 |
| 23303 <sup>(4)</sup> | Ginnie Mae 2010-H26 LF, 4.816%, (TSFR1M + 0.464%), 08/20/2058 | 23295 | 0.0 |
| 67575 <sup>(5)</sup> | Ginnie Mae 2011-123 QI, 5.000%, 05/20/2041 | 3517 | 0.0 |
| 317925 <sup>(4)</sup> | Ginnie Mae 2011-128 TF, 4.711%, (TSFR1M + 0.564%), 05/16/2041 | 315206 | 0.0 |
| 1146174 <sup>(4)(5)</sup> | Ginnie Mae 2011-141 PS, 2.439%, (-1.000\*TSFR1M + 6.586%), 06/16/2041 | 65814 | 0.0 |
| 1184924 <sup>(5)</sup> | Ginnie Mae 2011-146 EI, 5.000%, 11/16/2041 | 203803 | 0.0 |
| 945000 | Ginnie Mae 2011-151 PY, 3.000%, 11/20/2041 | 829555 | 0.1 |
| 12227 | Ginnie Mae 2011-169 BC, 7.000%, 05/16/2032 | 12406 | 0.0 |
| 84153 <sup>(4)</sup> | Ginnie Mae 2011-169 BG, 5.450%, 04/16/2039 | 84802 | 0.0 |
| 3736465 | Ginnie Mae 2011-25 Z, 4.000%, 02/20/2041 | 3671713 | 0.3 |
| 1011315 | Ginnie Mae 2011-59 QC, 4.000%, 12/20/2040 | 1000005 | 0.1 |
| 1519700 | Ginnie Mae 2011-89 Z, 3.500%, 06/20/2041 | 1440690 | 0.1 |
| 259860 <sup>(4)</sup> | Ginnie Mae 2011-H01 AF, 4.916%, (TSFR1M + 0.564%), 11/20/2060 | 259795 | 0.0 |
| 591523 <sup>(4)</sup> | Ginnie Mae 2011-H03 FA, 4.966%, (TSFR1M + 0.614%), 01/20/2061 | 591817 | 0.1 |
| 115180 <sup>(4)</sup> | Ginnie Mae 2011-H07 FA, 4.966%, (TSFR1M + 0.614%), 02/20/2061 | 115237 | 0.0 |
| 76077 <sup>(4)</sup> | Ginnie Mae 2011-H08 FD, 4.966%, (TSFR1M + 0.614%), 02/20/2061 | 76113 | 0.0 |
| 351407 <sup>(4)</sup> | Ginnie Mae 2011-H09 AF, 4.966%, (TSFR1M + 0.614%), 03/20/2061 | 351564 | 0.0 |
| 581559 <sup>(4)</sup> | Ginnie Mae 2011-H19 FA, 4.936%, (TSFR1M + 0.584%), 08/20/2061 | 581617 | 0.1 |
| 211464 <sup>(4)</sup> | Ginnie Mae 2011-H21 FT, 4.750%, (H15T1Y + 0.700%), 10/20/2061 | 211650 | 0.0 |
| 281496 <sup>(5)</sup> | Ginnie Mae 2012-103 IC, 3.500%, 08/16/2040 | 5211 | 0.0 |
| 166436 <sup>(5)</sup> | Ginnie Mae 2012-124 MI, 4.000%, 03/20/2042 | 14136 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 9673862 <sup>(5)</sup> | Ginnie Mae 2012-136 BI, 3.500%, 11/20/2042 | $1540066 | 0.1 |
| 106216 <sup>(4)(5)</sup> | Ginnie Mae 2012-34 MS, 2.439%, (-1.000\*TSFR1M + 6.586%), 04/16/2041 | 3923 | 0.0 |
| 1796724 <sup>(4)(5)</sup> | Ginnie Mae 2012-48 SA, 2.389%, (-1.000\*TSFR1M + 6.536%), 04/16/2042 | 214213 | 0.0 |
| 2389264 <sup>(4)(5)</sup> | Ginnie Mae 2012-60 SG, 1.839%, (-1.000\*TSFR1M + 5.986%), 05/16/2042 | 220043 | 0.0 |
| 456658 <sup>(4)(5)</sup> | Ginnie Mae 2012-93 NS, 1.850%, (-1.000\*TSFR1M + 5.986%), 07/20/2042 | 39138 | 0.0 |
| 455868 <sup>(5)</sup> | Ginnie Mae 2012-98 EI, 4.000%, 04/20/2041 | 36454 | 0.0 |
| 723195 <sup>(4)</sup> | Ginnie Mae 2012-H06 FS, 5.166%, (TSFR1M + 0.814%), 03/20/2062 | 725942 | 0.1 |
| 83350 <sup>(4)</sup> | Ginnie Mae 2012-H11 FA, 5.166%, (TSFR1M + 0.814%), 02/20/2062 | 83723 | 0.0 |
| 85426 <sup>(4)</sup> | Ginnie Mae 2012-H11 GA, 5.046%, (TSFR1M + 0.694%), 05/20/2062 | 85546 | 0.0 |
| 319387 <sup>(4)</sup> | Ginnie Mae 2012-H11 VA, 5.116%, (TSFR1M + 0.764%), 05/20/2062 | 320658 | 0.0 |
| 361606 <sup>(4)</sup> | Ginnie Mae 2012-H12 FA, 5.016%, (TSFR1M + 0.664%), 04/20/2062 | 362055 | 0.0 |
| 92878 <sup>(4)</sup> | Ginnie Mae 2012-H14 FK, 5.046%, (TSFR1M + 0.694%), 07/20/2062 | 92960 | 0.0 |
| 74508 <sup>(4)</sup> | Ginnie Mae 2012-H29 FA, 4.981%, (TSFR1M + 0.629%), 10/20/2062 | 74557 | 0.0 |
| 417350 <sup>(4)</sup> | Ginnie Mae 2012-H30 GA, 4.816%, (TSFR1M + 0.464%), 12/20/2062 | 416933 | 0.0 |
| 911024 | Ginnie Mae 2013-119 TZ, 3.000%, 08/20/2043 | 825617 | 0.1 |
| 7000000 | Ginnie Mae 2013-147 BE, 4.000%, 12/20/2039 | 6686625 | 0.6 |
| 1614758 | Ginnie Mae 2013-167 Z, 3.000%, 10/16/2043 | 1516970 | 0.1 |
| 1900000 <sup>(5)</sup> | Ginnie Mae 2013-186 UI, 2.500%, 11/20/2043 | 239097 | 0.0 |
| 362228 <sup>(5)</sup> | Ginnie Mae 2013-186 VI, 4.000%, 12/20/2042 | 48349 | 0.0 |
| 2487341 | Ginnie Mae 2013-186 ZE, 2.500%, 12/16/2043 | 2202144 | 0.2 |
| 1485039 <sup>(5)</sup> | Ginnie Mae 2013-20 LI, 4.500%, 12/16/2042 | 139324 | 0.0 |
| 1284885 <sup>(5)</sup> | Ginnie Mae 2013-23 IO, 3.500%, 02/20/2043 | 204242 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 489526 <sup>(4)(5)</sup> | Ginnie Mae 2013-88 AI, 1.455%, (-1.000\*TSFR1M + 5.736%), 06/20/2043 | $38484 | 0.0 |
| 842743 <sup>(4)(5)</sup> | Ginnie Mae 2013-99 SK, 1.505%, (-1.000\*TSFR1M + 5.786%), 07/20/2043 | 56593 | 0.0 |
| 366300 <sup>(4)</sup> | Ginnie Mae 2013-H02 FD, 4.806%, (TSFR1M + 0.454%), 12/20/2062 | 365630 | 0.0 |
| 48066 <sup>(4)</sup> | Ginnie Mae 2013-H07 HA, 4.876%, (TSFR1M + 0.524%), 03/20/2063 | 48017 | 0.0 |
| 207606 <sup>(4)</sup> | Ginnie Mae 2013-H10 FT, 4.500%, (H15T1Y + 0.450%), 04/20/2063 | 207087 | 0.0 |
| 328946 <sup>(4)</sup> | Ginnie Mae 2013-H14 FC, 4.936%, (TSFR1M + 0.584%), 06/20/2063 | 328959 | 0.0 |
| 118098 <sup>(4)</sup> | Ginnie Mae 2013-H14 FD, 4.936%, (TSFR1M + 0.584%), 06/20/2063 | 118088 | 0.0 |
| 129673 <sup>(4)</sup> | Ginnie Mae 2013-H14 FG, 4.936%, (TSFR1M + 0.584%), 05/20/2063 | 129681 | 0.0 |
| 104190 <sup>(4)</sup> | Ginnie Mae 2013-H17 FA, 5.016%, (TSFR1M + 0.664%), 07/20/2063 | 104328 | 0.0 |
| 28577 <sup>(4)</sup> | Ginnie Mae 2013-H18 EA, 4.966%, (TSFR1M + 0.614%), 07/20/2063 | 28591 | 0.0 |
| 279799 <sup>(4)</sup> | Ginnie Mae 2013-H18 FA, 4.966%, (TSFR1M + 0.614%), 06/20/2063 | 279937 | 0.0 |
| 457856 <sup>(4)</sup> | Ginnie Mae 2013-H19 DF, 5.116%, (TSFR1M + 0.764%), 05/20/2063 | 458174 | 0.0 |
| 323543 <sup>(4)</sup> | Ginnie Mae 2013-H20 FB, 5.466%, (TSFR1M + 1.114%), 08/20/2063 | 326950 | 0.0 |
| 29758 <sup>(4)</sup> | Ginnie Mae 2013-H21 FB, 5.166%, (TSFR1M + 0.814%), 09/20/2063 | 29841 | 0.0 |
| 145796 <sup>(4)</sup> | Ginnie Mae 2013-H22 FB, 5.166%, (TSFR1M + 0.814%), 08/20/2063 | 146301 | 0.0 |
| 276654 <sup>(4)</sup> | Ginnie Mae 2013-H22 FT, 4.700%, (H15T1Y + 0.650%), 04/20/2063 | 276772 | 0.0 |
| 208154 <sup>(4)</sup> | Ginnie Mae 2013-H23 FA, 5.766%, (TSFR1M + 1.414%), 09/20/2063 | 210068 | 0.0 |
| 1396856 <sup>(4)(5)</sup> | Ginnie Mae 2014-107 XS, 1.339%, (-1.000\*TSFR1M + 5.486%), 07/16/2044 | 112260 | 0.0 |
| 2793200 | Ginnie Mae 2014-115 EM, 4.000%, 08/20/2044 | 2667459 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1941301 | Ginnie Mae 2014-118 ZP, 4.000%, 08/20/2044 | $1856358 | 0.2 |
| 902900 <sup>(4)(5)</sup> | Ginnie Mae 2014-129 WS, 1.505%, (-1.000\*TSFR1M + 5.786%), 09/20/2044 | 65173 | 0.0 |
| 1850316 | Ginnie Mae 2014-149 KL, 4.000%, 10/16/2044 | 1681872 | 0.2 |
| 635305 <sup>(4)(5)</sup> | Ginnie Mae 2014-161 WS, 1.505%, (-1.000\*TSFR1M + 5.786%), 11/20/2044 | 47294 | 0.0 |
| 769050 <sup>(5)</sup> | Ginnie Mae 2014-183 IM, 5.000%, 06/20/2035 | 112055 | 0.0 |
| 961428 <sup>(4)(5)</sup> | Ginnie Mae 2014-30 ES, 0.750%, (-1.000\*TSFR1M + 4.886%), 03/20/2040 | 56272 | 0.0 |
| 666573 <sup>(4)(5)</sup> | Ginnie Mae 2014-96 SQ, 1.339%, (-1.000\*TSFR1M + 5.486%), 07/16/2044 | 54615 | 0.0 |
| 1458830 <sup>(5)</sup> | Ginnie Mae 2014-99 IO, 4.500%, 06/20/2044 | 301263 | 0.0 |
| 245356 <sup>(4)</sup> | Ginnie Mae 2014-H04 FB, 5.116%, (TSFR1M + 0.764%), 02/20/2064 | 246028 | 0.0 |
| 305450 <sup>(4)</sup> | Ginnie Mae 2014-H05 FB, 5.066%, (TSFR1M + 0.714%), 12/20/2063 | 306084 | 0.0 |
| 208269 <sup>(4)</sup> | Ginnie Mae 2014-H06 FA, 5.036%, (TSFR1M + 0.684%), 03/20/2064 | 208577 | 0.0 |
| 93571 <sup>(4)</sup> | Ginnie Mae 2014-H06 HB, 5.116%, (TSFR1M + 0.764%), 03/20/2064 | 93815 | 0.0 |
| 676908 <sup>(4)</sup> | Ginnie Mae 2014-H21 FA, 5.116%, (TSFR1M + 0.764%), 10/20/2064 | 677487 | 0.1 |
| 7645050 <sup>(4)</sup> | Ginnie Mae 2015-10 Q, 2.429%, 10/20/2044 | 6656345 | 0.6 |
| 130000 | Ginnie Mae 2015-123 GY, 3.000%, 09/20/2045 | 102877 | 0.0 |
| 2364266 <sup>(4)(5)</sup> | Ginnie Mae 2015-141 IX, 0.311%, (-1.000\*TSFR1M + 2.060%), 06/20/2045 | 35685 | 0.0 |
| 15125000 | Ginnie Mae 2015-143 B, 3.500%, 04/20/2045 | 14048876 | 1.3 |
| 1525307 <sup>(5)</sup> | Ginnie Mae 2015-149 IL, 4.500%, 10/20/2045 | 328767 | 0.0 |
| 721630 <sup>(5)</sup> | Ginnie Mae 2015-157 PI, 4.000%, 03/20/2044 | 67813 | 0.0 |
| 1925303 | Ginnie Mae 2015-165 ZA, 3.500%, 07/20/2045 | 1831078 | 0.2 |
| 4759398 | Ginnie Mae 2015-64 ZH, 2.500%, 05/16/2045 | 4229009 | 0.4 |
| 325779 <sup>(4)</sup> | Ginnie Mae 2015-H03 FA, 4.966%, (TSFR1M + 0.614%), 12/20/2064 | 325945 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 377155 <sup>(4)</sup> | Ginnie Mae 2015-H06 FA, 4.946%, (TSFR1M + 0.594%), 02/20/2065 | $377251 | 0 |
| 484650 <sup>(4)</sup> | Ginnie Mae 2015-H08 FC, 4.946%, (TSFR1M + 0.594%), 03/20/2065 | 484773 | 0 |
| 523897 <sup>(4)</sup> | Ginnie Mae 2015-H10 FH, 5.066%, (TSFR1M + 0.714%), 04/20/2065 | 523745 | 0.1 |
| 54508 <sup>(4)</sup> | Ginnie Mae 2015-H12 FA, 4.946%, (TSFR1M + 0.594%), 05/20/2065 | 54521 | 0 |
| 98649 <sup>(4)</sup> | Ginnie Mae 2015-H14 FB, 4.896%, (TSFR1M + 0.544%), 05/20/2065 | 98618 | 0 |
| 340309 <sup>(4)</sup> | Ginnie Mae 2015-H18 FB, 5.066%, (TSFR1M + 0.714%), 07/20/2065 | 340354 | 0 |
| 319264 <sup>(4)</sup> | Ginnie Mae 2015-H20 FB, 5.066%, (TSFR1M + 0.714%), 08/20/2065 | 319360 | 0 |
| 632649 <sup>(4)</sup> | Ginnie Mae 2015-H22 FC, 5.066%, (TSFR1M + 0.714%), 09/20/2065 | 632829 | 0.1 |
| 88545 <sup>(4)</sup> | Ginnie Mae 2015-H26 FC, 5.066%, (TSFR1M + 0.714%), 08/20/2065 | 88722 | 0 |
| 379287 <sup>(4)</sup> | Ginnie Mae 2015-H26 FG, 4.986%, (TSFR1M + 0.634%), 10/20/2065 | 379569 | 0 |
| 165876 <sup>(4)</sup> | Ginnie Mae 2015-H31 FT, 5.116%, (TSFR1M + 0.764%), 11/20/2065 | 166256 | 0 |
| 8438141 <sup>(5)</sup> | Ginnie Mae 2016-120 IM, 3.500%, 07/20/2046 | 984701 | 0.1 |
| 3976882 <sup>(5)</sup> | Ginnie Mae 2016-145 IU, 3.500%, 10/20/2046 | 710694 | 0.1 |
| 5832567 <sup>(4)(5)</sup> | Ginnie Mae 2016-20 BS, 1.645%, (-1.000\*TSFR1M + 5.986%), 02/20/2046 | 687174 | 0.1 |
| 2072897 <sup>(4)</sup> | Ginnie Mae 2016-5 AB, 4.691%, 01/20/2046 | 2099279 | 0.2 |
| 3544465 | Ginnie Mae 2016-69 B, 3.000%, 05/20/2046 | 3173081 | 0.3 |
| 72900 <sup>(4)</sup> | Ginnie Mae 2016-H01 FL, 5.116%, (TSFR1M + 0.764%), 12/20/2065 | 73094 | 0 |
| 637240 <sup>(4)</sup> | Ginnie Mae 2016-H02 FH, 5.466%, (TSFR1M + 1.114%), 01/20/2066 | 640401 | 0.1 |
| 120980 <sup>(4)</sup> | Ginnie Mae 2016-H03 FB, 5.116%, (TSFR1M + 0.764%), 01/20/2066 | 121265 | 0 |
| 611597 <sup>(4)</sup> | Ginnie Mae 2016-H09 FB, 5.366%, (TSFR1M + 1.014%), 04/20/2066 | 613803 | 0.1 |
| 365007 <sup>(4)</sup> | Ginnie Mae 2016-H11 FE, 5.316%, (TSFR1M + 0.964%), 04/20/2066 | 366141 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 250980 <sup>(4)</sup> | Ginnie Mae 2016-H13 FD, 4.500%, (H15T1Y + 0.450%), 05/20/2066 | $250284 | 0.0 |
| 21577 <sup>(4)</sup> | Ginnie Mae 2016-H13 FT, 5.046%, (TSFR1M + 0.694%), 05/20/2066 | 21613 | 0.0 |
| 55746 <sup>(4)</sup> | Ginnie Mae 2016-H20 FG, 5.166%, (TSFR1M + 0.814%), 08/20/2066 | 55925 | 0.0 |
| 4083621 | Ginnie Mae 2017-107 QZ, 3.000%, 08/20/2045 | 3453979 | 0.3 |
| 1000000 | Ginnie Mae 2017-117 BE, 2.500%, 08/20/2047 | 841780 | 0.1 |
| 1000000 | Ginnie Mae 2017-117 NG, 2.500%, 08/20/2047 | 821654 | 0.1 |
| 1802774 | Ginnie Mae 2017-122 CZ, 3.000%, 08/20/2047 | 1431995 | 0.1 |
| 1604809 <sup>(5)</sup> | Ginnie Mae 2017-123 IO, 5.000%, 08/16/2047 | 341601 | 0.0 |
| 2890000 | Ginnie Mae 2017-162 PL, 3.000%, 10/20/2047 | 2275432 | 0.2 |
| 750000 | Ginnie Mae 2017-163 YA, 2.500%, 11/20/2047 | 633247 | 0.1 |
| 10000000 | Ginnie Mae 2017-180 QB, 2.500%, 12/20/2047 | 8707714 | 0.8 |
| 1021967 | Ginnie Mae 2017-56 HM, 3.000%, 12/20/2046 | 948788 | 0.1 |
| 5437609 | Ginnie Mae 2017-56 JZ, 3.000%, 04/20/2047 | 4661789 | 0.4 |
| 401847 <sup>(4)</sup> | Ginnie Mae 2017-H07 FG, 4.926%, (TSFR1M + 0.574%), 02/20/2067 | 401805 | 0.0 |
| 456258 <sup>(4)</sup> | Ginnie Mae 2017-H14 FV, 4.966%, (TSFR1M + 0.614%), 06/20/2067 | 456474 | 0.0 |
| 503965 <sup>(4)</sup> | Ginnie Mae 2017-H17 FG, 4.966%, (TSFR1M + 0.614%), 08/20/2067 | 504220 | 0.0 |
| 145968 <sup>(4)</sup> | Ginnie Mae 2017-H19 FA, 4.916%, (TSFR1M + 0.564%), 08/20/2067 | 145926 | 0.0 |
| 1121208 | Ginnie Mae 2018-112 AL, 3.500%, 08/20/2048 | 1050276 | 0.1 |
| 383270 | Ginnie Mae 2018-163 DZ, 4.500%, 11/20/2048 | 352574 | 0.0 |
| 502275 <sup>(5)</sup> | Ginnie Mae 2018-78 IC, 4.000%, 02/20/2047 | 72041 | 0.0 |
| 1000000 | Ginnie Mae 2018-91 JN, 3.000%, 07/20/2048 | 843906 | 0.1 |
| 89727 <sup>(4)</sup> | Ginnie Mae 2018-H07 FE, 4.816%, (TSFR1M + 0.464%), 02/20/2068 | 89558 | 0.0 |
| 10506545 | Ginnie Mae 2019-1 LZ, 3.500%, 01/20/2049 | 9025054 | 0.8 |
| 1360662 | Ginnie Mae 2019-1 Z, 4.000%, 01/20/2049 | 1285721 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2399085 <sup>(4)</sup> | Ginnie Mae 2019-100 FD, 4.650%, (TSFR1M + 0.514%), 08/20/2049 | $2346105 | 0.2 |
| 8859357 | Ginnie Mae 2019- 123 CA, 3.000%, 10/20/2049 | 8052981 | 0.7 |
| 661726 <sup>(5)</sup> | Ginnie Mae 2019-29 AI, 5.000%, 07/20/2048 | 150845 | 0.0 |
| 10285402 <sup>(5)</sup> | Ginnie Mae YI, 5.000%, 05/20/2049 2019-56 | 2495900 | 0.2 |
| 109899 | Ginnie Mae 2019- 71 EN, 4.000%, 06/20/2049 | 91422 | 0.0 |
| 171041 <sup>(4)</sup> | Ginnie Mae 2019-H10 FM, 4.866%, (TSFR1M + 0.514%), 05/20/2069 | 170884 | 0.0 |
| 521536 <sup>(4)</sup> | Ginnie Mae 2019-H19 FB, 4.916%, (TSFR1M + 0.564%), 11/20/2069 | 521432 | 0.1 |
| 16668927 <sup>(5)</sup> | Ginnie Mae 2020-47 LI, 3.500%, 04/20/2050 | 3251343 | 0.3 |
| 2520264 <sup>(4)(5)</sup> | Ginnie Mae 2020- 62 KS, 1.900%, (-1.000\*TSFR1M + 6.036%), 05/20/2050 | 317096 | 0.0 |
| 16697645 <sup>(5)</sup> | Ginnie Mae 2020-63 BI, 3.500%, 05/20/2035 | 1721724 | 0.2 |
| 140145 <sup>(4)</sup> | Ginnie Mae 2020-H01 FT, 4.550%, (H15T1Y + 0.500%), 01/20/2070 | 139865 | 0.0 |
| 7076311 <sup>(4)(5)</sup> | Ginnie Mae 2021- 58 SB, 2.050%, (-1.000\*TSFR1M + 6.186%), 04/20/2051 | 900862 | 0.1 |
| 4930178 <sup>(5)</sup> | Ginnie Mae 2021-74 KI, 3.000%, 04/20/2051 | 765973 | 0.1 |
| 13426800 <sup>(4)(5)</sup> | Ginnie Mae 2021- 77 SK, 0.286%, (-1.000\*TSFR1M + 3.186%), 05/20/2051 | 187289 | 0.0 |
| 113799 <sup>(4)</sup> | Ginnie Mae 2021-H09 Z, 3.097%, 10/20/2066 | 105656 | 0.0 |
| 400000 | Ginnie Mae 2022- 136 PB, 4.000%, 08/20/2052 | 340388 | 0.0 |
| 12221994 | Ginnie Mae 2022- 205 ZG, 5.500%, 12/20/2052 | 12256108 | 1.1 |
| 2346452 | Ginnie Mae 2022-47 EB, 3.000%, 03/20/2037 | 2006239 | 0.2 |
| 923648 <sup>(4)</sup> | Ginnie Mae 2023-111 FC, 5.539%, (SOFR30A + 1.150%), 08/20/2053 | 927105 | 0.1 |
| 7068644 | Ginnie Mae 2023-111 ZL, 6.000%, 08/20/2053 | 7238450 | 0.7 |
| 1148178 | Ginnie Mae 2023- 112 MZ, 6.000%, 08/20/2053 | 1188348 | 0.1 |
| 12895745 | Ginnie Mae 2023- 116 QZ, 6.000%, 08/20/2053 | 13301111 | 1.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 18513043 | Ginnie Mae 2023-149 EZ, 6.000%, 09/20/2063 | $19199366 | 1.7 |
| 7884938 | Ginnie Mae 2023-149 HZ, 6.000%, 10/20/2053 | 8287380 | 0.8 |
| 1250802 | Ginnie Mae 2023-189 AY, 6.000%, 12/20/2053 | 1290821 | 0.1 |
| 4975109 <sup>(4)</sup> | Ginnie Mae 2024-183 FB, 5.539%, (SOFR30A + 1.150%), 11/20/2054 | 4981016 | 0.5 |
| 8266241 | Ginnie Mae 2024-20 KZ, 6.000%, 02/20/2054 | 8442386 | 0.8 |
| 6544623 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6726720 | 0.6 |
| 6154000 | Ginnie Mae 2024-61 CY, 6.000%, 04/20/2054 | 6272361 | 0.6 |
| 6897664 | Ginnie Mae 2025-1 DY, 5.000%, 01/20/2055 | 6699627 | 0.6 |
| 8985141 <sup>(4)</sup> | Ginnie Mae 2025-1 FJ, 5.689%, (SOFR30A + 1.300%), 01/20/2055 | 9035828 | 0.8 |
| 7881529 <sup>(4)</sup> | Ginnie Mae 2025-1 GF, 5.689%, (SOFR30A + 1.300%), 01/20/2055 | 7909537 | 0.7 |
| 19864368 <sup>(4)</sup> | Ginnie Mae 2025-101 LF, 5.639%, (SOFR30A + 1.250%), 06/20/2055 | 19968332 | 1.8 |
| 14955572 <sup>(4)</sup> | Ginnie Mae 2025-120 FG, 5.639%, (SOFR30A + 1.250%), 07/20/2055 | 15008093 | 1.4 |
| 9989211 <sup>(4)</sup> | Ginnie Mae 2025-135 FD, 5.589%, (SOFR30A + 1.200%), 08/20/2055 | 10002940 | 0.9 |
| 4994823 <sup>(4)</sup> | Ginnie Mae 2025-139 BF, 5.589%, (SOFR30A + 1.200%), 08/20/2055 | 4998903 | 0.5 |
| 208311 | Ginnie Mae 2025-25 PZ, 7.000%, 02/20/2055 | 226609 | 0 |
| 2896475 <sup>(4)</sup> | Ginnie Mae 2025-27 FG, 5.589%, (SOFR30A + 1.200%), 02/20/2055 | 2900201 | 0.3 |
| 10745000 | Ginnie Mae 2025-6 EB, 5.500%, 01/20/2055 | 11040793 | 1 |
| 25813192 <sup>(4)</sup> | Ginnie Mae 2025-9 FE, 5.639%, (SOFR30A + 1.250%), 01/20/2055 | 25903605 | 2.3 |
| 10016439 <sup>(4)</sup> | Ginnie Mae 2025-90 FA, 5.689%, (SOFR30A + 1.300%), 05/20/2055 | 10059537 | 0.9 |
| 1131750 <sup>(4)</sup> | Seasoned Credit Risk Transfer Trust Series 2018-2 HA, 3.000%, 11/25/2057 | 1074028 | 0.1 |
| 3510868 | Seasoned Credit Risk Transfer Trust Series 2019-1 M55D, 4.000%, 07/25/2058 | 3297626 | 0.3 |
| 1497758 | Seasoned Credit Risk Transfer Trust Series 2019-3 M55D, 4.000%, 10/25/2058 | 1409073 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 7955000 | Seasoned Loans Structured Transaction Series 2019-1 A2, 3.500%, 05/25/2029 | 7733869 | 0.7 |
| 2595719 | Seasoned Loans Structured Transaction Trust Series 2019-2 A1C, 2.750%, 09/25/2029 | 2481750 | 0.2 |
| 879622 | Vendee Mortgage Trust 2003-2 Z, 5.000%, 05/15/2033 | 889612 | 0.1 |
| 2038196 | Vendee Mortgage Trust 2011-2 DZ, 3.750%, 10/15/2041 | 1923506 | 0.2 |
| 17852218 <sup>(4)(5)</sup> | Vendee Mortgage Trust 2011-2 IO, 0.373%, 10/15/2041 | 284946 | 0 |
|  | Total Collateralized Mortgage Obligations |  |  |
|  | (Cost $681,549,131) | **647099660** | **58.3** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** |
| 8661536 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K106 X1, 1.437%, 01/25/2030 | 424390 | 0.1 |
| 29534823 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K108 X1, 1.810%, 03/25/2030 | 1818221 | 0.2 |
| 18157814 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K110 X1, 1.756%, 04/25/2030 | 1089722 | 0.1 |
| 2945656 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 1.016%, 09/25/2030 | 111683 | 0 |
| 16272266 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.623%, 05/25/2035 | 1729724 | 0.2 |
| 14628557 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1517 X1, 1.435%, 07/25/2035 | 1358646 | 0.1 |
| 33682992 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1519 X1, 0.686%, 12/25/2035 | 1450194 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 23920960 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K740 X1, 0.816%, 09/25/2027 | $282380 | 0.0 |
| 31028473 <sup>(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates KL06 XFX, 1.462%, 12/25/2029 | 1236494 | 0.1 |
| 33908865 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates KLU3 X1, 2.071%, 01/25/2031 | 2438537 | 0.2 |
| 197395 <sup>(4)</sup> | Ginnie Mae 2004-23 Z, 5.765%, 03/16/2044 | 196289 | 0.0 |
| 2315605 <sup>(4)(5)</sup> | Ginnie Mae 2006-67 IO, 0.670%, 11/16/2046 | 6690 | 0.0 |
| 39520 <sup>(4)</sup> | Ginnie Mae 2007-52 Z, 4.350%, 01/16/2048 | 39414 | 0.0 |
| 437737 | Ginnie Mae 2008-39 Z, 4.500%, 02/16/2048 | 423704 | 0.1 |
| 211425 <sup>(4)(5)</sup> | Ginnie Mae 2008-45 IO, 0.863%, 02/16/2048 | 2189 | 0.0 |
| 51654 <sup>(4)(5)</sup> | Ginnie Mae 2010-123 IA, 2.050%, 10/16/2052 | 486 | 0.0 |
| 7189289 <sup>(4)(5)</sup> | Ginnie Mae 2011-47 IO, 0.197%, 01/16/2051 | 18715 | 0.0 |
| 323118 <sup>(4)(5)</sup> | Ginnie Mae 2017-9 IO, 0.557%, 01/16/2057 | 9802 | 0.0 |
| 2103400 <sup>(4)</sup> | Ginnie Mae 2018-114 Z, 3.100%, 04/16/2060 | 1585746 | 0.2 |
| 11849897 | Ginnie Mae 2018-116 Z, 3.000%, 06/16/2058 | 9873811 | 0.9 |
| 2115332 | Ginnie Mae 2018-169 Z, 3.000%, 04/16/2061 | 1407039 | 0.1 |
| 2104308 | Ginnie Mae 2019-17 Z, 3.000%, 12/16/2060 | 1322149 | 0.1 |
| 2801531 <sup>(4)</sup> | Ginnie Mae 2019-19 Z, 3.200%, 11/16/2060 | 2218317 | 0.2 |
| 3639592 | Ginnie Mae 2019-53 Z, 3.000%, 06/16/2061 | 2626704 | 0.2 |
| 5393616 | Ginnie Mae 2021-79 Z, 1.750%, 08/16/2063 | 2042933 | 0.2 |
| 2667789 | Ginnie Mae 2021-80 Z, 1.500%, 12/16/2062 | 1087550 | 0.1 |
| 2333712 | Ginnie Mae 2021-90 B, 1.750%, 05/16/2061 | 1087947 | 0.1 |
| 2406423 <sup>(4)(5)</sup> | Ginnie Mae 2023-139 IO, 0.613%, 05/16/2065 | 116092 | 0.0 |
| 4016472 <sup>(4)(5)</sup> | Ginnie Mae 2023-88 IO, 0.924%, 03/16/2065 | 279589 | 0.0 |
| 57479050 <sup>(4)(5)</sup> | Ginnie Mae 2024-82 AI, 0.741%, 10/16/2065 | 3710293 | 0.3 |
|  | Total Commercial Mortgage-Backed Securities |  |  |
|  | (Cost $52,341,325) | **39995450** | **3.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: 0.0%** | **ASSET-BACKED SECURITIES: 0.0%** | **ASSET-BACKED SECURITIES: 0.0%** | **ASSET-BACKED SECURITIES: 0.0%** |
|  | **Other Asset-Backed Securities: 0.0%** | **Other Asset-Backed Securities: 0.0%** | **Other Asset-Backed Securities: 0.0%** |
| 472874 <sup>(4)</sup> | Fannie Mae Grantor Trust 2001-T9 A1, 4.382%, (TSFR1M + 0.224%), 09/25/2031 | $469318 | 0.0 |
| 27874 <sup>(4)</sup> | Fannie Mae Grantor Trust 2003-T4 2A6, 4.551%, 07/26/2033 | 27645 | 0.0 |
| 1567 <sup>(4)</sup> | Fannie Mae REMIC Trust 2001-W4 AF6, 5.110%, 01/25/2032 | 1566 | 0.0 |
| 2131 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W12 AF6, 5.066%, 02/25/2033 | 2123 | 0.0 |
| 1592 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W2 AF6, 6.000%, 05/25/2032 | 1609 | 0.0 |
|  |  | **502261** | **0.0** |
|  | Total Asset-Backed Securities |  |  |
|  | (Cost $502,022) | **502261** | **0.0** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $1,496,872,375) | **1417879100** | **127.7** |
|  |  |  | **Percentage** |
| **Principal** |  |  | **of Net** |
| **Amount**† |  | **Value** | **Assets** |
| **SHORT-TERM INVESTMENTS: 3.0%** | **SHORT-TERM INVESTMENTS: 3.0%** | **SHORT-TERM INVESTMENTS: 3.0%** | **SHORT-TERM INVESTMENTS: 3.0%** |
|  | **U.S. Treasury Obligations: 3.0%** | **U.S. Treasury Obligations: 3.0%** | **U.S. Treasury Obligations: 3.0%** |
| 19400000 <sup>(2)</sup> | United States Treasury Bill, 2.040%, 10/02/2025 | 19397836 | 1.8 |
| 12700000 <sup>(2)</sup> | United States Treasury Bill, 3.910%, 10/21/2025 | 12671503 | 1.1 |
| 1025000 <sup>(2)</sup> | United States Treasury Bill, 3.960%, 10/28/2025 | 1021895 | 0.1 |
|  | Total U.S. Treasury Obligations |  |  |
|  | (Cost $33,091,228) | **33091234** | **3.0** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $33,091,228) | **33091234** | **3.0** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $1,529,963,603)** | $**1450970334** | **130.7** |
|  | **Liabilities in Excess of Other Assets** | **(340695282)** | **(30.7)** |
|  | **Net Assets** | $**1110275052** | **100.0** |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. |
| <sup>(2)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2025. |
| <sup>(3)</sup> | Represents or includes a TBA transaction. |
| <sup>(4)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>(5)</sup> | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
| <sup>(6)</sup> | Principal only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments of interest on the pool are passed through the principal only security. |

---

Reference Rate Abbreviations:

H15T1Y U.S. Treasury 1-Year Constant Maturity <br> SOFR30A 30-day Secured Overnight Financing Rate <br> TSFR1M 1-month CME Term Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Signifiicant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Signifiicant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| U.S. Government Agency Obligations | $— | $730281730 | $— | $730281730 |
| Collateralized Mortgage Obligations |  | 647099660 |  | 647099660 |
| Commercial Mortgage-Backed Securities |  | 39995450 |  | 39995450 |
| Asset-Backed Securities |  | 502261 |  | 502261 |
| Short-Term Investments |  | 33091233 |  | 33091233 |
| Total Investments, at fair value | $— | $1450970334 | $— | $1450970334 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 19303 |  |  | 19303 |
| Total Assets | $19303 | $1450970334 | $— | $1450989637 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments** |  |  |  |  |
| Futures | $(541992) | $— | $— | $(541992) |
| Sales Commitments |  | (3988909) |  | (3988909) |
| Total Liabilities | $(541992) | $(3988909) | $— | $(4530901) |

---

---

| | |
|:---|:---|
| <sup>^</sup> | See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information. |
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following futures contracts were outstanding for Voya GNMA Income Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** |<br>**Number**<br>**of Contracts** | <br>**Expiration**<br>**Date** |<br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Long Contracts: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 270 | 12/31/25 | $56267578 | $(11015) |
|  |  |  | $56267578 | $(11015) |
| Short Contracts: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | (1395) | 12/31/25 | (152327461) | 19118 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (237) | 12/19/25 | (26662500) | (78256) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (156) | 12/19/25 | (18188625) | (334271) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (123) | 12/19/25 | (14154609) | (118450) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (14) | 12/19/25 | (1680875) | 185 |
|  |  |  | $(213014070) | $(511674) |

---

The following sales commitments were held by the Voya GNMA Income Fund at September 30, 2025:

---

| | | | |
|:---|:---|:---|:---|
|<br>**Principal Amount** | <br>**Description** | **Contractual**<br>**Settlement Date** |<br>**Fair Value** |
| $(1067000) | Uniform Mortgage-Backed Securities, 3.000%, due 10/01/55 | 10/14/25 | $(937374) |
| (2243000) | Uniform Mortgage-Backed Securities, 3.500%, due 10/01/55 | 10/14/25 | (2049554) |
| (1063000) | Uniform Mortgage-Backed Securities, 4.000%, due 10/01/55 | 10/14/25 | (1001981) |
|  | Total Sales Commitments |  |  |
|  | Proceeds receivable $(4004590) |  | $(3988909) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> <u>Voya GNMA Income Fund</u> <u>as of September 30, 2025 (Unaudited) (continued)</u>

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

---

| | | |
|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** | **Location on Statement**<br>**of Assets and Liabilities** |<br>**Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*</sup> | $19303 |
| **Total Asset Derivatives** |  | $19303 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $541992 |
| **Total Liability Derivatives** |  | $541992 |

---

\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $(3829973) |
| **Total** | $(3829973) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $2535899 |
| **Total** | $2535899 |

---

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $1,530,060,649.

---

| | |
|:---|:---|
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $7433501 |
| Gross Unrealized Depreciation | (87030824) |
| Net Unrealized Depreciation | $(79597323) |

---

See Accompanying Notes to Financial Statements

Voya High Yield Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: 95.1%** | **CORPORATE BONDS/NOTES: 95.1%** | **CORPORATE BONDS/NOTES: 95.1%** | **CORPORATE BONDS/NOTES: 95.1%** |
|  | **Basic Materials: 4.4%** | **Basic Materials: 4.4%** | **Basic Materials: 4.4%** |
| 2535000 <sup>(1)</sup> | Arsenal AIC Parent LLC, 8.000%, 10/01/2030 | $2687219 | 1 |
| 1920000 <sup>(1)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 1979307 | 0.8 |
| 1220000 | Celanese US Holdings LLC, 6.750%, 04/15/2033 | 1215615 | 0.5 |
| 2860000 <sup>(1)</sup> | Chemours Co., 8.000%, 01/15/2033 | 2846843 | 1.1 |
| 2500000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 2577650 | 1 |
|  |  | **11306634** | **4.4** |
|  | **Communications: 12.2%** | **Communications: 12.2%** | **Communications: 12.2%** |
| 1475000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 1343269 | 0.5 |
| 2725000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 6.375%, 09/01/2029 | 2764679 | 1.1 |
| 2590000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 7.375%, 03/01/2031 | 2673942 | 1 |
| 1955000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 1933439 | 0.8 |
| 3860000 <sup>(1)</sup> | Frontier Communications Holdings LLC, 8.750%, 05/15/2030 | 4035476 | 1.6 |
| 3935000 <sup>(1)</sup> | Gen Digital, Inc., 6.250%, 04/01/2033 | 4026997 | 1.6 |
| 2030000 <sup>(1)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 2075701 | 0.8 |
| 1655000 <sup>(1)</sup> | Nexstar Media, Inc., 5.625%, 07/15/2027 | 1653930 | 0.6 |
| 4030000 <sup>(1)</sup> | Sirius XM Radio, Inc., 5.500%, 07/01/2029 | 4034151 | 1.6 |
| 3275000 <sup>(1)</sup> | Snap, Inc., 6.875%, 03/01/2033 | 3350992 | 1.3 |
| 3255000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 7.750%, 04/15/2032 | 3423895 | 1.3 |
|  |  | **31316471** | **12.2** |
|  | **Consumer, Cyclical: 16.7%** | **Consumer, Cyclical: 16.7%** | **Consumer, Cyclical: 16.7%** |
| 2295000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 | 2349637 | 0.9 |
| 2605000 <sup>(1)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 | 2699392 | 1.1 |
| 2735000 <sup>(1)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 2822534 | 1.1 |
| 2520000 <sup>(1)</sup> | Amer Sports Co., 6.750%, 02/16/2031 | 2630704 | 1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 1885000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 1900873 | 0.8 |
| 1310000 | Bath & Body Works, Inc., 6.875%, 11/01/2035 | 1364630 | 0.5 |
| 4165000 <sup>(1)</sup> | Caesars Entertainment, Inc., 6.000%, 10/15/2032 | 4104961 | 1.6 |
| 2065000 <sup>(1)</sup> | Carnival Corp., 5.750%, 08/01/2032 | 2104086 | 0.8 |
| 2510000 <sup>(1)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 | 2567190 | 1 |
| 2025000 <sup>(1)</sup> | Garrett Motion Holdings, Inc. / Garrett LX I Sarl, 7.750%, 05/31/2032 | 2125851 | 0.8 |
| 2690000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 2731545 | 1.1 |
| 1955000 <sup>(1)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 2003697 | 0.8 |
| 3210000 <sup>(1)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 | 3340769 | 1.3 |
| 3805000 <sup>(1)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 3915560 | 1.5 |
| 2725000 <sup>(1)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 2889143 | 1.1 |
| 1395000 <sup>(1)</sup> | SeaWorld Parks & Entertainment, Inc., 5.250%, 08/15/2029 | 1372741 | 0.5 |
| 2020000 <sup>(1)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 2025142 | 0.8 |
|  |  | **42948455** | **16.7** |
|  | **Consumer, Non-cyclical: 14.2%** | **Consumer, Non-cyclical: 14.2%** | **Consumer, Non-cyclical: 14.2%** |
| 3195000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 3307847 | 1.3 |
| 2590000 <sup>(1)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 2692647 | 1 |
| 1995000 <sup>(1)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 2058916 | 0.8 |
| 3185000 <sup>(1)</sup> | EquipmentShare. com, Inc., 8.625%, 05/15/2032 | 3442647 | 1.3 |
| 1915000 <sup>(1)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 1972326 | 0.8 |
| 3295000 <sup>(1)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 3442277 | 1.3 |
| 1890000 <sup>(1)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 1966605 | 0.8 |
| 1990000 <sup>(1)</sup> | Medline Borrower L.P., 5.250%, 10/01/2029 | 1974265 | 0.8 |

---

See Accompanying Notes to Financial Statements

Voya High Yield Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 2725000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 7.875%, 05/15/2034 | $2527849 | 1 |
| 3290000 <sup>(1)</sup> | Performance Food Group, Inc., 6.125%, 09/15/2032 | 3374096 | 1.3 |
| 3005000 <sup>(1)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 3040486 | 1.2 |
| 3915000 <sup>(1)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 4050483 | 1.6 |
| 2600000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 2678598 | 1 |
|  |  | **36529042** | **14.2** |
|  | **Energy: 9.8%** |  |  |
| 2555000 <sup>(1)</sup> | CITGO Petroleum Corp., 8.375%, 01/15/2029 | 2661523 | 1 |
| 1970000 <sup>(1)</sup> | Civitas Resources, Inc., 8.750%, 07/01/2031 | 2020749 | 0.8 |
| 2420000 <sup>(1)</sup> | CNX Resources Corp., 7.375%, 01/15/2031 | 2496794 | 1 |
| 2005000 <sup>(1)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 2073862 | 0.8 |
| 1995000 <sup>(1)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 2033643 | 0.8 |
| 1365000 <sup>(1)</sup> | SM Energy Co., 7.000%, 08/01/2032 | 1367049 | 0.5 |
| 3385000 <sup>(1)</sup> | Sunoco L.P., 6.250%, 07/01/2033 | 3447850 | 1.4 |
| 2108810 <sup>(1)</sup> | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 2166384 | 0.9 |
| 1320000 <sup>(1)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 1366847 | 0.5 |
| 3185000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 3385025 | 1.3 |
| 2020000 <sup>(1)</sup> | Weatherford International Ltd., 8.625%, 04/30/2030 | 2066371 | 0.8 |
|  |  | **25086097** | **9.8** |
|  | **Financial: 13.1%** |  |  |
| 5240000 <sup>(1)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 5348809 | 2.1 |
| 1285000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/2030 | 1302733 | 0.5 |
| 3135000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 7.125%, 02/01/2032 | 3281461 | 1.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** |  |  |
| 3920000 | Navient Corp., 7.875%, 06/15/2032 | $4129751 | 1.6 |
| 5975000 | OneMain Finance Corp., 7.125%, 09/15/2032 | 6179870 | 2.4 |
| 3875000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 4033170 | 1.6 |
| 2615000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 | 2703549 | 1.1 |
| 605000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.875%, 12/15/2029 | 642505 | 0.2 |
| 2610000 <sup>(1)</sup> | PRA Group, Inc., 8.375%, 02/01/2028 | 2671619 | 1 |
| 3355000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 3466936 | 1.3 |
|  |  | **33760403** | **13.1** |
|  | **Industrial: 18.4%** |  |  |
| 1285000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 1323729 | 0.5 |
| 2160000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 2250144 | 0.9 |
| 2615000 <sup>(1)</sup> | Axon Enterprise, Inc., 6.250%, 03/15/2033 | 2698147 | 1 |
| 3950000 <sup>(1)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | 4126993 | 1.6 |
| 2440000 <sup>(1)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 | 2524353 | 1 |
| 3275000 <sup>(1)</sup> | Chart Industries, Inc., 7.500%, 01/01/2030 | 3412501 | 1.3 |
| 3890000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/2030 | 4137101 | 1.6 |
| 1990000 <sup>(1)</sup> | GFL Environmental, Inc., 6.750%, 01/15/2031 | 2084865 | 0.8 |
| 3080000 <sup>(1)</sup> | Mauser Packaging Solutions Holding Co., 7.875%, 04/15/2027 | 3114043 | 1.2 |
| 2000000 <sup>(1)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 2038452 | 0.8 |
| 3255000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.750%, 03/01/2033 | 3386661 | 1.3 |
| 1955000 <sup>(1)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 | 2060290 | 0.8 |
| 2730000 <sup>(1)</sup> | TransDigm, Inc., 6.375%, 05/31/2033 | 2767518 | 1.1 |
| 2670000 <sup>(1)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 2762580 | 1.1 |
| 2420000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 2512679 | 1 |

---

See Accompanying Notes to Financial Statements

Voya High Yield Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 2630000 <sup>(1)</sup> | WESCO Distribution, Inc., 6.375%, 03/15/2033 | $2728199 | 1.1 |
| 3140000 <sup>(1)</sup> | XPO, Inc., 7.125%, 06/01/2031 | 3289078 | 1.3 |
|  |  | **47217333** | **18.4** |
|  | **Technology: 5.3%** |  |  |
| 965000 <sup>(1)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 996653 | 0.4 |
| 3345000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 3378852 | 1.3 |
| 965000 <sup>(1)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 997814 | 0.4 |
| 2845000 <sup>(1)</sup> | McAfee Corp., 7.375%, 02/15/2030 | 2642312 | 1 |
| 3570000 <sup>(1)</sup> | Seagate Data Storage Technology Pte Ltd., 8.500%, 07/15/2031 | 3788334 | 1.5 |
| 1820000 <sup>(1)</sup> | UKG, Inc., 6.875%, 02/01/2031 | 1879314 | 0.7 |
|  |  | **13683279** | **5.3** |
|  | **Utilities: 1.0%** |  |  |
| 2560000 <sup>(1)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 | 2625833 | 1 |
|  | Total Corporate Bonds/ Notes<br> (Cost $242,041,510) | **244473547** | **95.1** |
|  | Total Long-Term Investments<br> (Cost $242,041,510) | **244473547** | **95.1** |
|  |  |  | **Percentage** |
|  |  |  | **of Net** |
| **Shares** | **RA** | **Value** | **Assets** |
| **SHORT-TERM INVESTMENTS: 4.3%** | **SHORT-TERM INVESTMENTS: 4.3%** |  |  |
|  | **Mutual Funds: 4.3%** |  |  |
| 11146437 <sup>(2)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.030% <br> (Cost $11,146,437) | $**11146437** | **4.3** |
|  | Total Short-Term Investments<br> (Cost $11,146,437) | **11146437** | **4.3** |
|  | **Total Investments in Securities<br> (Cost $253,187,947)** | $**255619984** | **99.4** |
|  | **Assets in Excess of Other Liabilities** | **1599288** | **0.6** |
|  | **Net Assets** | $**257219272** | **100.0** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
| <sup>(2)</sup> | Rate shown is the 7-day yield as of September 30, 2025. |

---

See Accompanying Notes to Financial Statements

Voya High Yield Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $244473547 | $— | $244473547 |
| Short-Term Investments | 11146437 |  |  | 11146437 |
| Total Investments, at fair value | $11146437 | $244473547 | $— | $255619984 |

---

 

<sup>^</sup>&nbsp;&nbsp;&nbsp;&nbsp; See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

---

| | |
|:---|:---|
| Cost for U.S. federal income tax purposes was $253,891,838. |  |
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $2616721 |
| Gross Unrealized Depreciation | (888575) |
| Net Unrealized Appreciation | $1728146 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: 26.4%** | **CORPORATE BONDS/NOTES: 26.4%** | **CORPORATE BONDS/NOTES: 26.4%** | **CORPORATE BONDS/NOTES: 26.4%** |
|  | **Basic Materials: 0.8%** |  |  |
| 1748000 <sup>(1)(2)</sup> | Anglo American Capital PLC, 5.500%, 05/02/2033 | $1813317 | 0.0 |
| 4750000 <sup>(2)</sup> | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | 4540596 | 0.1 |
| 3274000 | BHP Billiton Finance USA Ltd., 5.125%, 02/21/2032 | 3394772 | 0.0 |
| 2518000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2030 | 2625542 | 0.0 |
| 1775000 <sup>(1)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 1829828 | 0.0 |
| 3395000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 3500449 | 0.0 |
| 5200000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 5460000 | 0.1 |
| 8425000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 | 8997900 | 0.1 |
| 3250000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 3525438 | 0.1 |
| 3889000 <sup>(1)(2)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 | 4176786 | 0.1 |
| 233000 <sup>(1)(2)</sup> | Glencore Funding LLC, 5.893%, 04/04/2054 | 235663 | 0.0 |
| 1500000 <sup>(1)(2)</sup> | Inversiones CMPC SA, 6.125%, 02/26/2034 | 1561755 | 0.0 |
| 1825000 <sup>(1)</sup> | NOVA Chemicals Corp., 7.000%, 12/01/2031 | 1924340 | 0.0 |
| 3175000 <sup>(1)(2)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 3069558 | 0.0 |
| 4078000 <sup>(2)</sup> | Nucor Corp., 5.100%, 06/01/2035 | 4148468 | 0.1 |
| 1605000 <sup>(1)</sup> | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 1460300 | 0.0 |
| 277000 | Nutrien Ltd., 5.875%, 12/01/2036 | 291294 | 0.0 |
| 6800000 <sup>(1)</sup> | OCP SA, 6.750%, 05/02/2034 | 7424002 | 0.1 |
| 2745000 <sup>(1)(2)</sup> | Olin Corp., 6.625%, 04/01/2033 | 2762590 | 0.0 |
| 3321000 | Rio Tinto Finance USA PLC, 5.000%, 03/14/2032 | 3415242 | 0.0 |
| 3247000 | Rio Tinto Finance USA PLC, 5.750%, 03/14/2055 | 3344048 | 0.0 |
| 4700000 <sup>(1)</sup> | Sociedad Quimica y Minera de Chile SA, 5.500%, 09/10/2034 | 4774025 | 0.1 |
| 2599000 <sup>(2)</sup> | Steel Dynamics, Inc., 1.650%, 10/15/2027 | 2473232 | 0.0 |
|  |  | **76749145** | **0.8** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: 2.1%** | **Communications: 2.1%** | **Communications: 2.1%** |
| 3749000 <sup>(2)</sup> | Alphabet, Inc., 4.500%, 05/15/2035 | $3753901 | 0.1 |
| 2264000 | Alphabet, Inc., 5.250%, 05/15/2055 | 2270620 | 0.0 |
| 1255000 | Alphabet, Inc., 5.300%, 05/15/2065 | 1249793 | 0.0 |
| 2352000 <sup>(2)</sup> | Amazon.com, Inc., 2.100%, 05/12/2031 | 2117072 | 0.0 |
| 5080000 | AppLovin Corp., 5.125%, 12/01/2029 | 5198146 | 0.1 |
| 4192000 | AppLovin Corp., 5.375%, 12/01/2031 | 4338083 | 0.1 |
| 2095000 <sup>(1)</sup> | Arches Buyer, Inc., 4.250%, 06/01/2028 | 2054799 | 0.0 |
| 1431000 | AT&T, Inc., 3.550%, 09/15/2055 | 986905 | 0.0 |
| 2095000 | AT&T, Inc., 3.650%, 09/15/2059 | 1433523 | 0.0 |
| 944000 | AT&T, Inc., 3.800%, 12/01/2057 | 673687 | 0.0 |
| 355000 | AT&T, Inc., 4.500%, 05/15/2035 | 343144 | 0.0 |
| 2780000 <sup>(2)</sup> | AT&T, Inc., 4.550%, 11/01/2032 | 2768496 | 0.0 |
| 5545000 <sup>(2)</sup> | AT&T, Inc., 4.900%, 11/01/2035 | 5503875 | 0.1 |
| 1903000 | AT&T, Inc., 4.900%, 08/15/2037 | 1856738 | 0.0 |
| 2774000 <sup>(2)</sup> | AT&T, Inc., 6.050%, 08/15/2056 | 2877348 | 0.0 |
| 5185000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 4721934 | 0.1 |
| 1389000 <sup>(2)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 2.800%, 04/01/2031 | 1253541 | 0.0 |
| 4168000 <sup>(2)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.900%, 06/01/2052 | 2824941 | 0.0 |
| 902000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061 | 625460 | 0.0 |
| 1674000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.800%, 03/01/2050 | 1326718 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** |  |  |
| 2458000 <sup>(2)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.250%, 04/01/2053 | $2055262 | 0.0 |
| 4569000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.100%, 06/01/2029 | 4795532 | 0.1 |
| 2424000 <sup>(2)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.550%, 06/01/2034 | 2584186 | 0.0 |
| 3233000 <sup>(2)</sup> | Cisco Systems, Inc., 4.950%, 02/26/2031 | 3347438 | 0.1 |
| 4678000 <sup>(2)</sup> | Cisco Systems, Inc., 4.950%, 02/24/2032 | 4839302 | 0.1 |
| 1101000 <sup>(2)</sup> | Cisco Systems, Inc., 5.100%, 02/24/2035 | 1139227 | 0.0 |
| 3435000 | Cisco Systems, Inc., 5.300%, 02/26/2054 | 3393134 | 0.1 |
| 3920000 | Cisco Systems, Inc., 5.500%, 02/24/2055 | 3992073 | 0.1 |
| 1668000 <sup>(2)</sup> | Comcast Corp., 1.500%, 02/15/2031 | 1442624 | 0.0 |
| 1554000 <sup>(2)</sup> | Comcast Corp., 1.950%, 01/15/2031 | 1380694 | 0.0 |
| 3517000 | Comcast Corp., 2.650%, 02/01/2030 | 3298718 | 0.0 |
| 1562000 <sup>(2)</sup> | Comcast Corp., 3.200%, 07/15/2036 | 1332884 | 0.0 |
| 1652000 | Comcast Corp., 3.900%, 03/01/2038 | 1455081 | 0.0 |
| 1191000 <sup>(2)</sup> | Comcast Corp., 5.300%, 06/01/2034 | 1236042 | 0.0 |
| 947000 | Comcast Corp., 5.500%, 05/15/2064 | 893220 | 0.0 |
| 998000 <sup>(2)</sup> | Comcast Corp., 5.650%, 06/01/2054 | 980130 | 0.0 |
| 3521000 <sup>(2)</sup> | Comcast Corp., 6.050%, 05/15/2055 | 3641361 | 0.1 |
| 3975000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 3931161 | 0.1 |
| 2209000 | Discovery Communications LLC, 3.625%, 05/15/2030 | 2043448 | 0.0 |
| 2500000 <sup>(1)</sup> | GCI LLC, 4.750%, 10/15/2028 | 2431690 | 0.0 |
| 2325000 <sup>(1)</sup> | Gray Media, Inc., 7.250%, 08/15/2033 | 2305418 | 0.0 |
| 1115000 <sup>(1)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 1137317 | 0.0 |
| 3425000 <sup>(1)(2)</sup> | Match Group Holdings II LLC, 3.625%, 10/01/2031 | 3106830 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** |  |  |
| 5191000 <sup>(2)</sup> | Meta Platforms, Inc., 4.750%, 08/15/2034 | $5260848 | 0.1 |
| 6711000 <sup>(2)</sup> | Meta Platforms, Inc., 5.400%, 08/15/2054 | 6635620 | 0.1 |
| 7223000 | Meta Platforms, Inc., 5.550%, 08/15/2064 | 7175599 | 0.1 |
| 2016000 | Motorola Solutions, Inc., 5.000%, 04/15/2029 | 2064947 | 0.0 |
| 2570000 | Motorola Solutions, Inc., 5.550%, 08/15/2035 | 2678794 | 0.0 |
| 1960000 <sup>(1)</sup> | NBN Co. Ltd., 1.450%, 05/05/2026 | 1928460 | 0.0 |
| 3097000 <sup>(1)</sup> | NBN Co. Ltd., 1.625%, 01/08/2027 | 3004731 | 0.0 |
| 1169000 <sup>(1)(2)</sup> | NBN Co. Ltd., 2.500%, 01/08/2032 | 1040441 | 0.0 |
| 1762000 <sup>(1)(2)</sup> | NBN Co. Ltd., 6.000%, 10/06/2033 | 1914540 | 0.0 |
| 3254000 <sup>(2)</sup> | Netflix, Inc., 5.875%, 11/15/2028 | 3431887 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 1923892 | 0.0 |
| 2500000 <sup>(1)(2)</sup> | Sirius XM Radio, Inc., 5.500%, 07/01/2029 | 2502575 | 0.0 |
| 3190000 <sup>(1)(2)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 3236674 | 0.0 |
| 3085000 <sup>(1)(2)</sup> | SoftBank Corp., 4.699%, 07/09/2030 | 3111312 | 0.0 |
| 6281000 | Sprint Capital Corp., 6.875%, 11/15/2028 | 6757374 | 0.1 |
| 4202000 | Sprint Capital Corp., 8.750%, 03/15/2032 | 5120533 | 0.1 |
| 1970000 <sup>(1)(2)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 1915340 | 0.0 |
| 1506000 | Time Warner Cable LLC, 5.500%, 09/01/2041 | 1380910 | 0.0 |
| 539000 | Time Warner Cable LLC, 5.875%, 11/15/2040 | 515468 | 0.0 |
| 1000000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | 953553 | 0.0 |
| 593000 | T-Mobile USA, Inc., 2.250%, 02/15/2026 | 588418 | 0.0 |
| 1588000 <sup>(2)</sup> | T-Mobile USA, Inc., 2.625%, 02/15/2029 | 1507501 | 0.0 |
| 199000 | T-Mobile USA, Inc., 3.000%, 02/15/2041 | 149620 | 0.0 |
| 780000 | T-Mobile USA, Inc., 3.375%, 04/15/2029 | 757486 | 0.0 |
| 5740000 | T-Mobile USA, Inc., 3.500%, 04/15/2031 | 5461492 | 0.1 |
| 4598000 | T-Mobile USA, Inc., 3.875%, 04/15/2030 | 4510072 | 0.1 |
| 463000 | T-Mobile USA, Inc., 4.375%, 04/15/2040 | 418279 | 0.0 |
| 3115000 <sup>(2)</sup> | T-Mobile USA, Inc., 5.300%, 05/15/2035 | 3192075 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** | **Communications: (continued)** |  |
| 2983000 <sup>(2)</sup> | T-Mobile USA, Inc., 5.875%, 11/15/2055 | $3049179 | 0.0 |
| 2701000 | Uber Technologies, Inc., 4.300%, 01/15/2030 | 2710815 | 0.0 |
| 2043000 <sup>(1)(2)</sup> | Uber Technologies, Inc., 4.500%, 08/15/2029 | 2041035 | 0.0 |
| 5979000 <sup>(2)</sup> | Uber Technologies, Inc., 5.350%, 09/15/2054 | 5805034 | 0.1 |
| 249000 | Verizon Communications, Inc., 1.750%, 01/20/2031 | 217911 | 0.0 |
| 2111000 | Verizon Communications, Inc., 2.355%, 03/15/2032 | 1851828 | 0.0 |
| 252000 | Verizon Communications, Inc., 2.550%, 03/21/2031 | 229178 | 0.0 |
| 744000 | Verizon Communications, Inc., 4.400%, 11/01/2034 | 717964 | 0.0 |
| 2542000 | Verizon Communications, Inc., 4.812%, 03/15/2039 | 2425800 | 0.0 |
| 2500000 <sup>(1)(2)</sup> | Viasat, Inc., 5.625%, 04/15/2027 | 2492029 | 0.0 |
| 1900000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 1789555 | 0.0 |
| 2434000 | Vodafone Group PLC, 5.875%, 06/28/2064 | 2424603 | 0.0 |
|  |  | **209834868** | **2.1** |
|  | **Consumer, Cyclical: 2.6%** |  |  |
| 2450000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 4.000%, 10/15/2030 | 2311498 | 0.0 |
| 3065000 <sup>(1)(2)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 3163095 | 0.0 |
| 243062 | American Airlines Pass Through Trust 2015-2, AA, 3.600%, 03/22/2029 | 238417 | 0.0 |
| 1442420 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | 1414970 | 0.0 |
| 2174881 | American Airlines Pass Through Trust 2016-2, AA, 3.200%, 12/15/2029 | 2108481 | 0.0 |
| 4185270 | American Airlines Pass Through Trust 2017-2, AA, 3.350%, 04/15/2031 | 4042121 | 0.1 |
| 2925000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 2949630 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 3284000 | American Honda Finance Corp., 4.700%, 01/12/2028 | $3326371 | 0.0 |
| 1774000 | American Honda Finance Corp., 5.650%, 11/15/2028 | 1850284 | 0.0 |
| 4049000 <sup>(2)</sup> | American Honda Finance Corp., GMTN, 4.850%, 10/23/2031 | 4112542 | 0.1 |
| 1176000 | AutoZone, Inc., 6.250%, 11/01/2028 | 1247443 | 0.0 |
| 3970000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 4091093 | 0.1 |
| 1943000 <sup>(1)</sup> | BMW US Capital LLC, 5.050%, 03/21/2030 | 1995481 | 0.0 |
| 1249000 <sup>(2)</sup> | BorgWarner, Inc., 5.400%, 08/15/2034 | 1289254 | 0.0 |
| 2415000 <sup>(1)(2)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | 2512078 | 0.0 |
| 816379 | Delta Air Lines Pass Through Trust 2015-1, AA, 3.625%, 01/30/2029 | 805468 | 0.0 |
| 3937000 | Delta Air Lines, Inc., 5.250%, 07/10/2030 | 4017907 | 0.1 |
| 558406 <sup>(1)</sup> | Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.750%, 10/20/2028 | 561778 | 0.0 |
| 3095000 <sup>(1)(2)</sup> | Denso Corp., 4.420%, 09/11/2029 | 3113639 | 0.0 |
| 2681000 | Ford Motor Co., 3.250%, 02/12/2032 | 2346461 | 0.0 |
| 2853000 <sup>(2)</sup> | Ford Motor Credit Co. LLC, 3.625%, 06/17/2031 | 2595579 | 0.0 |
| 4797000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 4719500 | 0.1 |
| 3033000 | Ford Motor Credit Co. LLC, 5.113%, 05/03/2029 | 3011284 | 0.0 |
| 599000 | General Motors Co., 6.250%, 10/02/2043 | 609470 | 0.0 |
| 4038000 | General Motors Financial Co., Inc., 2.350%, 01/08/2031 | 3578811 | 0.1 |
| 4322000 <sup>(2)</sup> | General Motors Financial Co., Inc., 4.900%, 10/06/2029 | 4373320 | 0.1 |
| 7102000 <sup>(2)</sup> | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 7336177 | 0.1 |
| 6474000 <sup>(2)</sup> | General Motors Financial Co., Inc., 5.900%, 01/07/2035 | 6682947 | 0.1 |
| 1044000 | General Motors Financial Co., Inc., 6.100%, 01/07/2034 | 1097948 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 3038000 <sup>(2)</sup> | General Motors Financial Co., Inc., 6.150%, 07/15/2035 | $3178818 | 0.0 |
| 2159000 | Genuine Parts Co., 4.950%, 08/15/2029 | 2197944 | 0.0 |
| 2500000 <sup>(1)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 2562272 | 0.0 |
| 6112000 | Honda Motor Co. Ltd., 4.688%, 07/08/2030 | 6168088 | 0.1 |
| 9254000 | Honda Motor Co. Ltd., 5.337%, 07/08/2035 | 9433087 | 0.1 |
| 1300000 | Hyatt Hotels Corp., 5.250%, 06/30/2029 | 1333800 | 0.0 |
| 3276000 <sup>(1)(2)</sup> | Hyundai Capital America, 5.150%, 03/27/2030 | 3345397 | 0.0 |
| 3027000 <sup>(1)</sup> | Hyundai Capital America, 5.300%, 06/24/2029 | 3107035 | 0.0 |
| 4738000 <sup>(1)(2)</sup> | Hyundai Capital America, 5.400%, 03/29/2032 | 4873640 | 0.1 |
| 2486000 <sup>(1)</sup> | Hyundai Capital America, 5.680%, 06/26/2028 | 2567292 | 0.0 |
| 6439000 <sup>(1)(2)</sup> | Hyundai Capital America, 6.100%, 09/21/2028 | 6736845 | 0.1 |
| 2831000 <sup>(1)(2)</sup> | Hyundai Capital America, 6.500%, 01/16/2029 | 3001902 | 0.0 |
| 2550000 <sup>(1)(2)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 2556043 | 0.0 |
| 144000 | Lowe's Cos., Inc., 4.450%, 04/01/2062 | 115088 | 0.0 |
| 5545000 <sup>(2)</sup> | Lowe's Cos., Inc., 4.500%, 10/15/2032 | 5501778 | 0.1 |
| 227000 | Lowe's Cos., Inc., 5.850%, 04/01/2063 | 229314 | 0.0 |
| 4285000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 3762151 | 0.1 |
| 5545000 <sup>(2)</sup> | Marriott International, Inc., 4.500%, 10/15/2031 | 5522785 | 0.1 |
| 2748000 | Marriott International, Inc., 4.800%, 03/15/2030 | 2799970 | 0.0 |
| 8615000 <sup>(2)</sup> | Marriott International, Inc., 5.250%, 10/15/2035 | 8695820 | 0.1 |
| 1906000 <sup>(2)</sup> | Marriott International, Inc., 5.350%, 03/15/2035 | 1950221 | 0.0 |
| 3225000 <sup>(1)(2)</sup> | Mercedes-Benz Finance North America LLC, 4.800%, 08/01/2029 | 3286566 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 3825000 <sup>(2)</sup> | MGM Resorts International, 6.500%, 04/15/2032 | $3899278 | 0.1 |
| 2020000 <sup>(1)(2)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 2078694 | 0.0 |
| 1200000 <sup>(2)</sup> | Newell Brands, Inc., 6.625%, 05/15/2032 | 1187290 | 0.0 |
| 595000 <sup>(1)(2)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 630840 | 0.0 |
| 1370000 | O'Reilly Automotive, Inc., 5.000%, 08/19/2034 | 1383329 | 0.0 |
| 2570000 <sup>(1)(2)</sup> | Panasonic Holdings Corp., 5.302%, 07/16/2034 | 2665806 | 0.0 |
| 3025000 <sup>(2)</sup> | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 3148828 | 0.0 |
| 2500000 <sup>(1)(2)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 2326058 | 0.0 |
| 3305000 <sup>(1)(2)</sup> | Station Casinos LLC, 6.625%, 03/15/2032 | 3397405 | 0.0 |
| 1560000 <sup>(1)(2)</sup> | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 1430782 | 0.0 |
| 1310000 <sup>(1)(2)</sup> | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 1259077 | 0.0 |
| 5634000 <sup>(2)</sup> | Toyota Motor Corp., 4.450%, 06/30/2030 | 5695833 | 0.1 |
| 2588000 | Toyota Motor Credit Corp., 4.550%, 08/09/2029 | 2628792 | 0.0 |
| 4457000 | Toyota Motor Credit Corp., 4.800%, 05/15/2030 | 4566963 | 0.1 |
| 2000000 <sup>(2)</sup> | Toyota Motor Credit Corp., 5.350%, 01/09/2035 | 2092386 | 0.0 |
| 1910000 | Toyota Motor Credit Corp., 5.550%, 11/20/2030 | 2022764 | 0.0 |
| 3219000 | Toyota Motor Credit Corp., MTN, 4.350%, 10/08/2027 | 3246894 | 0.0 |
| 479779 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 493525 | 0.0 |
| 4061265 | United Airlines Pass Through Trust 2014-2, A, 3.750%, 03/03/2028 | 4028143 | 0.1 |
| 2753295 | United Airlines Pass Through Trust 2016-2, AA, 2.875%, 04/07/2030 | 2626230 | 0.0 |
| 2053000 <sup>(1)</sup> | United Airlines, Inc., 4.625%, 04/15/2029 | 2023116 | 0.0 |
| 2125000 <sup>(1)(2)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 2031484 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 2885000 <sup>(1)</sup> | Volkswagen Group of America Finance LLC, 4.550%, 09/11/2028 | $| 2894931 | 0.0 |
| 2785000 <sup>(1)(2)</sup> | Volkswagen Group of America Finance LLC, 4.850%, 09/11/2030 |  | 2797531 | 0.0 |
| 6060000 <sup>(1)(2)</sup> | Volkswagen Group of America Finance LLC, 5.250%, 03/22/2029 |  | 6188469 | 0.1 |
| 6557000 <sup>(1)</sup> | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 |  | 6646708 | 0.1 |
| 4847000 <sup>(1)(2)</sup> | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 |  | 5208629 | 0.1 |
| 1895000 <sup>(1)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 |  | 2005213 | 0.0 |
| 9421000 <sup>(2)</sup> | Walmart, Inc., 4.900%, 04/28/2035 |  | 9697090 | 0.1 |
| 3950000 <sup>(1)(2)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 |  | 4013891 | 0.1 |
| 2275000 <sup>(1)(2)</sup> | ZF North America Capital, Inc., 7.125%, 04/14/2030 |  | 2254462 | 0.0 |
|  |  |  | **260999344** | **2.6** |
|  | **Consumer, Non-cyclical: 4.1%** | **Consumer, Non-cyclical: 4.1%** | **Consumer, Non-cyclical: 4.1%** |  |
| 1273000 | AbbVie, Inc., 3.200%, 11/21/2029 |  | 1228488 | 0.0 |
| 1286000 | AbbVie, Inc., 4.050%, 11/21/2039 |  | 1151517 | 0.0 |
| 3836000 | AbbVie, Inc., 4.300%, 05/14/2036 |  | 3688438 | 0.1 |
| 2997000 | AbbVie, Inc., 4.500%, 05/14/2035 |  | 2942090 | 0.0 |
| 1668000 | AbbVie, Inc., 4.650%, 03/15/2028 |  | 1695806 | 0.0 |
| 4760000 | AbbVie, Inc., 4.950%, 03/15/2031 |  | 4921200 | 0.1 |
| 3165000 <sup>(2)</sup> | AbbVie, Inc., 5.600%, 03/15/2055 |  | 3240721 | 0.0 |
| 1279000 | Aetna, Inc., 6.625%, 06/15/2036 |  | 1406851 | 0.0 |
| 2500000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 |  | 2372702 | 0.0 |
| 1970000 <sup>(1)(2)</sup> | Allied Universal Holdco LLC, 7.875%, 02/15/2031 |  | 2067260 | 0.0 |
| 2468000 | Altria Group, Inc., 6.200%, 11/01/2028 |  | 2608512 | 0.0 |
| 758000 | Amgen, Inc., 5.750%, 03/02/2063 |  | 756779 | 0.0 |
| 1454000 <sup>(2)</sup> | Anheuser-Busch InBev Worldwide, Inc., 4.375%, 04/15/2038 |  | 1379429 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 4760000 | Astrazeneca Finance LLC, 4.900%, 02/26/2031 | $4917073 | 0.1 |
| 3598000 | Automatic Data Processing, Inc., 4.750%, 05/08/2032 | 3686754 | 0.1 |
| 245000 | BAT Capital Corp., 3.557%, 08/15/2027 | 242549 | 0.0 |
| 3462000 | BAT Capital Corp., 4.390%, 08/15/2037 | 3176135 | 0.0 |
| 1359000 | BAT Capital Corp., 5.834%, 02/20/2031 | 1437966 | 0.0 |
| 674000 | BAT Capital Corp., 7.079%, 08/02/2043 | 763281 | 0.0 |
| 3518000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 3562999 | 0.1 |
| 1440000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 1483163 | 0.0 |
| 1440000 <sup>(1)(2)</sup> | Brink's Co., 6.750%, 06/15/2032 | 1499076 | 0.0 |
| 806000 <sup>(2)</sup> | Bristol-Myers Squibb Co., 4.125%, 06/15/2039 | 730546 | 0.0 |
| 1979000 | Bristol-Myers Squibb Co., 5.100%, 02/22/2031 | 2058579 | 0.0 |
| 6037000 | Bristol-Myers Squibb Co., 5.550%, 02/22/2054 | 6021110 | 0.1 |
| 670000 | Bristol-Myers Squibb Co., 6.400%, 11/15/2063 | 740337 | 0.0 |
| 1407000 | Bunge Ltd. Finance Corp., 4.200%, 09/17/2029 | 1402851 | 0.0 |
| 2822000 <sup>(2)</sup> | Campbell Soup Co., 5.200%, 03/21/2029 | 2898844 | 0.0 |
| 3981000 | Cardinal Health, Inc., 4.700%, 11/15/2026 | 4009965 | 0.1 |
| 575000 <sup>(2)</sup> | Cardinal Health, Inc., 5.450%, 02/15/2034 | 597154 | 0.0 |
| 2042000 <sup>(1)</sup> | Cargill, Inc., 1.700%, 02/02/2031 | 1796285 | 0.0 |
| 1747000 <sup>(1)</sup> | Cargill, Inc., 2.125%, 04/23/2030 | 1600540 | 0.0 |
| 1333000 <sup>(1)(2)</sup> | Cargill, Inc., 5.125%, 02/11/2035 | 1374121 | 0.0 |
| 2130000 <sup>(2)</sup> | Cencora, Inc., 5.125%, 02/15/2034 | 2181839 | 0.0 |
| 11370000 | Centene Corp., 3.000%, 10/15/2030 | 10166626 | 0.1 |
| 2552000 | Centene Corp., 4.625%, 12/15/2029 | 2476030 | 0.0 |
| 2330000 <sup>(1)(2)</sup> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 2109930 | 0.0 |
| 4307000 | Cigna Group, 2.375%, 03/15/2031 | 3876150 | 0.1 |
| 3990000 | Cigna Group, 4.800%, 08/15/2038 | 3809211 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 1966000 <sup>(2)</sup> | Cigna Group, 5.250%, 02/15/2034 | $2024382 | 0.0 |
| 5545000 | Cigna Group, 5.250%, 01/15/2036 | 5617841 | 0.1 |
| 5258000 <sup>(2)</sup> | Cigna Group, 5.600%, 02/15/2054 | 5174114 | 0.1 |
| 2832000 | Coca-Cola Consolidated, Inc., 5.250%, 06/01/2029 | 2928362 | 0.0 |
| 1076000 | CVS Health Corp., 4.125%, 04/01/2040 | 914728 | 0.0 |
| 2144000 | CVS Health Corp., 4.780%, 03/25/2038 | 2010359 | 0.0 |
| 947000 | CVS Health Corp., 5.050%, 03/25/2048 | 843334 | 0.0 |
| 1523000 | CVS Health Corp., 5.125%, 02/21/2030 | 1561550 | 0.0 |
| 4225000 | CVS Health Corp., 5.450%, 09/15/2035 | 4308571 | 0.0 |
| 199000 | CVS Health Corp., 6.000%, 06/01/2063 | 196194 | 0.0 |
| 3760000 <sup>(1)(2)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | 3606588 | 0.1 |
| 4906000 <sup>(1)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 | 5000393 | 0.1 |
| 2780000 | Elevance Health, Inc., 4.600%, 09/15/2032 | 2763921 | 0.0 |
| 3299000 <sup>(2)</sup> | Elevance Health, Inc., 4.950%, 11/01/2031 | 3360449 | 0.1 |
| 1481000 <sup>(2)</sup> | Elevance Health, Inc., 5.200%, 02/15/2035 | 1510057 | 0.0 |
| 5138000 | Eli Lilly & Co., 5.500%, 02/12/2055 | 5251911 | 0.1 |
| 2125000 <sup>(1)(2)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 2014328 | 0.0 |
| 3902000 <sup>(1)</sup> | EMD Finance LLC, 4.625%, 10/15/2032 | 3898036 | 0.1 |
| 2209000 | Equifax, Inc., 3.100%, 05/15/2030 | 2091172 | 0.0 |
| 1785000 <sup>(1)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 1886081 | 0.0 |
| 6004000 | Gilead Sciences, Inc., 5.100%, 06/15/2035 | 6171220 | 0.1 |
| 3034000 <sup>(2)</sup> | Gilead Sciences, Inc., 5.600%, 11/15/2064 | 3073302 | 0.0 |
| 3629000 <sup>(2)</sup> | GlaxoSmithKline Capital, Inc., 4.875%, 04/15/2035 | 3660816 | 0.1 |
| 5904000 | Global Payments, Inc., 1.200%, 03/01/2026 | 5826771 | 0.1 |
| 390000 <sup>(2)</sup> | Global Payments, Inc., 5.950%, 08/15/2052 | 383107 | 0.0 |
| 1032000 <sup>(2)</sup> | GXO Logistics, Inc., 6.250%, 05/06/2029 | 1084227 | 0.0 |
| 893000 | HCA, Inc., 2.375%, 07/15/2031 | 792442 | 0.0 |
| 4576000 | HCA, Inc., 3.500%, 09/01/2030 | 4372203 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 6835000 | HCA, Inc., 4.125%, 06/15/2029 | $6777617 | 0.1 |
| 990000 | HCA, Inc., 4.375%, 03/15/2042 | 847737 | 0.0 |
| 4673000 | HCA, Inc., 4.500%, 02/15/2027 | 4682797 | 0.1 |
| 1953000 | HCA, Inc., 5.125%, 06/15/2039 | 1882757 | 0.0 |
| 2689000 | HCA, Inc., 5.450%, 04/01/2031 | 2795804 | 0.0 |
| 3601000 <sup>(2)</sup> | HCA, Inc., 6.000%, 04/01/2054 | 3610489 | 0.1 |
| 403000 | HCA, Inc., 6.100%, 04/01/2064 | 404959 | 0.0 |
| 4035000 <sup>(1)</sup> | Health Care Service Corp. A Mutual Legal Reserve Co., 5.200%, 06/15/2029 | 4146469 | 0.1 |
| 585000 <sup>(1)(2)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 608132 | 0.0 |
| 385000 <sup>(1)(2)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 402208 | 0.0 |
| 6051000 <sup>(2)</sup> | Hershey Co., 4.950%, 02/24/2032 | 6242648 | 0.1 |
| 2768000 | Humana, Inc., 5.375%, 04/15/2031 | 2847993 | 0.0 |
| 4059000 | Icon Investments Six DAC, 5.849%, 05/08/2029 | 4238039 | 0.1 |
| 3985000 <sup>(1)</sup> | Imperial Brands Finance PLC, 5.500%, 02/01/2030 | 4135804 | 0.1 |
| 1533000 <sup>(1)</sup> | Imperial Brands Finance PLC, 5.875%, 07/01/2034 | 1606052 | 0.0 |
| 2310000 <sup>(1)(2)</sup> | Japan Tobacco, Inc., 5.250%, 06/15/2030 | 2392823 | 0.0 |
| 1782000 | Johnson & Johnson, 3.625%, 03/03/2037 | 1619309 | 0.0 |
| 1817000 <sup>(2)</sup> | Johnson & Johnson, 4.700%, 03/01/2030 | 1872069 | 0.0 |
| 2506000 <sup>(2)</sup> | Kenvue, Inc., 4.850%, 05/22/2032 | 2543369 | 0.0 |
| 1699000 <sup>(2)</sup> | Kenvue, Inc., 5.050%, 03/22/2028 | 1736309 | 0.0 |
| 2303000 <sup>(2)</sup> | Kroger Co., 5.500%, 09/15/2054 | 2246575 | 0.0 |
| 3012000 | Kroger Co., 5.650%, 09/15/2064 | 2940271 | 0.0 |
| 2476000 <sup>(2)</sup> | Laboratory Corp. of America Holdings, 4.550%, 04/01/2032 | 2464409 | 0.0 |
| 2500000 <sup>(1)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 2666596 | 0.0 |
| 2612000 <sup>(1)</sup> | Mars, Inc., 5.000%, 03/01/2032 | 2673364 | 0.0 |
| 4538000 <sup>(1)</sup> | Mars, Inc., 5.200%, 03/01/2035 | 4640811 | 0.1 |
| 2205000 <sup>(1)</sup> | Mars, Inc., 5.650%, 05/01/2045 | 2238296 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Intermediate Bond Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 3165000 <sup>(1)</sup> | Mars, Inc., 5.700%, 05/01/2055 | $3208255 | 0.0 |
| 2376000 <sup>(2)</sup> | McKesson Corp., 4.250%, 09/15/2029 | 2386846 | 0.0 |
| 3759000 <sup>(2)</sup> | McKesson Corp., 4.950%, 05/30/2032 | 3850426 | 0.1 |
| 3007000 | McKesson Corp., 5.250%, 05/30/2035 | 3098518 | 0.0 |
| 3070000 <sup>(1)(2)</sup> | Medline Borrower L.P., 3.875%, 04/01/2029 | 2963099 | 0.0 |
| 9100000 <sup>(1)</sup> | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 10021375 | 0.1 |
| 3300000 <sup>(1)(2)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 2893585 | 0.0 |
| 2670000 <sup>(2)</sup> | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 2690118 | 0.0 |
| 1880000 | Pfizer Investment Enterprises Pte Ltd., 4.650%, 05/19/2030 | 1915869 | 0.0 |
| 1835000 <sup>(2)</sup> | Pfizer Investment Enterprises Pte Ltd., 4.750%, 05/19/2033 | 1854402 | 0.0 |
| 3336000 | Pfizer Investment Enterprises Pte Ltd., 5.340%, 05/19/2063 | 3168845 | 0.0 |
| 2832000 | Philip Morris International, Inc., 4.750%, 11/01/2031 | 2882227 | 0.0 |
| 3258000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 3329254 | 0.0 |
| 4595000 <sup>(1)(2)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 4649262 | 0.1 |
| 1760000 <sup>(1)(2)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.375%, 04/30/2029 | 1709652 | 0.0 |
| 801000 | Quest Diagnostics, Inc., 2.800%, 06/30/2031 | 736649 | 0.0 |
| 824000 | Quest Diagnostics, Inc., 2.950%, 06/30/2030 | 776719 | 0.0 |
| 4322000 | Quest Diagnostics, Inc., 4.625%, 12/15/2029 | 4389681 | 0.1 |
| 1841000 <sup>(2)</sup> | Quest Diagnostics, Inc., 5.000%, 12/15/2034 | 1864239 | 0.0 |
| 1350000 | Quest Diagnostics, Inc., 6.400%, 11/30/2033 | 1498657 | 0.0 |
| 3025000 <sup>(1)(2)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 3116258 | 0.0 |
| 1154000 | Reynolds American, Inc., 5.850%, 08/15/2045 | 1144247 | 0.0 |
| 1190000 <sup>(1)</sup> | Roche Holdings, Inc., 4.592%, 09/09/2034 | 1190355 | 0.0 |
| 5686000 <sup>(1)</sup> | Roche Holdings, Inc., 5.489%, 11/13/2030 | 6026686 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 1675000 | Royalty Pharma PLC, 1.750%, 09/02/2027 | $1600809 | 0.0 |
| 4073000 <sup>(2)</sup> | Royalty Pharma PLC, 2.200%, 09/02/2030 | 3657661 | 0.1 |
| 841000 | Royalty Pharma PLC, 3.300%, 09/02/2040 | 645544 | 0.0 |
| 1399000 <sup>(2)</sup> | S&P Global, Inc., 1.250%, 08/15/2030 | 1219373 | 0.0 |
| 3275000 <sup>(2)</sup> | S&P Global, Inc., 2.700%, 03/01/2029 | 3129784 | 0.0 |
| 1735000 <sup>(1)(2)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | 1737341 | 0.0 |
| 1785000 <sup>(1)(2)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1713936 | 0.0 |
| 2773000 | Solventum Corp., 5.450%, 03/13/2031 | 2892952 | 0.0 |
| 1612000 | Solventum Corp., 5.600%, 03/23/2034 | 1679156 | 0.0 |
| 1812000 <sup>(2)</sup> | Solventum Corp., 5.900%, 04/30/2054 | 1862739 | 0.0 |
| 2365000 <sup>(1)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 2486249 | 0.0 |
| 3451000 | Stryker Corp., 4.850%, 02/10/2030 | 3538010 | 0.1 |
| 1369000 <sup>(2)</sup> | Sysco Corp., 5.400%, 03/23/2035 | 1416674 | 0.0 |
| 916000 | Takeda Pharmaceutical Co. Ltd., 5.300%, 07/05/2034 | 943615 | 0.0 |
| 2217000 | Takeda Pharmaceutical Co. Ltd., 5.800%, 07/05/2064 | 2233153 | 0.0 |
| 3094000 | Takeda US Financing, Inc., 5.200%, 07/07/2035 | 3146130 | 0.0 |
| 3314000 | Takeda US Financing, Inc., 5.900%, 07/07/2055 | 3416696 | 0.1 |
| 1995000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 2022944 | 0.0 |
| 3820000 <sup>(2)</sup> | Thermo Fisher Scientific, Inc., 4.977%, 08/10/2030 | 3955273 | 0.1 |
| 1919000 | Tyson Foods, Inc., 5.400%, 03/15/2029 | 1985614 | 0.0 |
| 4052000 | Unilever Capital Corp., 4.625%, 08/12/2034 | 4074882 | 0.1 |
| 479000 | UnitedHealth Group, Inc., 2.750%, 05/15/2040 | 357119 | 0.0 |
| 1157000 | UnitedHealth Group, Inc., 3.500%, 08/15/2039 | 965591 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 4322000 | UnitedHealth Group, Inc., 4.950%, 01/15/2032 | $| 4429746 | 0.1 |
| 1518000 | UnitedHealth Group, Inc., 5.150%, 07/15/2034 |  | 1558545 | 0.0 |
| 506000 <sup>(2)</sup> | UnitedHealth Group, Inc., 5.500%, 04/15/2064 |  | 485410 | 0.0 |
| 2448000 | UnitedHealth Group, Inc., 5.750%, 07/15/2064 |  | 2439131 | 0.0 |
| 1561000 | Universal Health Services, Inc., 4.625%, 10/15/2029 |  | 1559943 | 0.0 |
| 2150000 <sup>(1)(2)</sup> | US Foods, Inc., 7.250%, 01/15/2032 |  | 2253613 | 0.0 |
| 2748000 | Viatris, Inc., 2.700%, 06/22/2030 |  | 2474956 | 0.0 |
| 2124000 | Viatris, Inc., 3.850%, 06/22/2040 |  | 1620576 | 0.0 |
| 1573000 | Viatris, Inc., 4.000%, 06/22/2050 |  | 1073896 | 0.0 |
| 1700000 <sup>(1)(2)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 |  | 1792480 | 0.0 |
| 3265000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 06/15/2029 |  | 3342625 | 0.1 |
| 2324000 | Zimmer Biomet Holdings, Inc., 5.350%, 12/01/2028 |  | 2407589 | 0.0 |
|  |  |  | **403154051** | **4.1** |
|  | **Energy: 2.4%** | **Energy: 2.4%** | **Energy: 2.4%** | **Energy: 2.4%** |
| 2528000 <sup>(1)</sup> | Aker BP ASA, 5.125%, 10/01/2034 |  | 2486257 | 0.0 |
| 3500000 <sup>(1)(2)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 6.625%, 02/01/2032 |  | 3607789 | 0.1 |
| 4555000 <sup>(2)</sup> | APA Corp., 6.750%, 02/15/2055 |  | 4595703 | 0.1 |
| 1160000 <sup>(1)(2)</sup> | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 6.625%, 07/15/2033 |  | 1180296 | 0.0 |
| 2480000 <sup>(1)(2)</sup> | Baytex Energy Corp., 8.500%, 04/30/2030 |  | 2551794 | 0.0 |
| 959000 | BP Capital Markets America, Inc., 4.893%, 09/11/2033 |  | 973261 | 0.0 |
| 510000 | BP Capital Markets America, Inc., 4.989%, 04/10/2034 |  | 520380 | 0.0 |
| 2836000 <sup>(2)</sup> | BP Capital Markets America, Inc., 5.227%, 11/17/2034 |  | 2930480 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 2540000 <sup>(3)</sup> | BP Capital Markets PLC, 4.875%, 12/31/2199 | $2525984 | 0.0 |
| 2402000 <sup>(3)</sup> | BP Capital Markets PLC, 6.125%, 12/31/2199 | 2490960 | 0.0 |
| 2121000 <sup>(1)(2)</sup> | Canadian Natural Resources Ltd., 5.400%, 12/15/2034 | 2161315 | 0.0 |
| 420000 | Cenovus Energy, Inc., 5.400%, 06/15/2047 | 387396 | 0.0 |
| 2099000 | Cheniere Energy Partners L.P., 4.500%, 10/01/2029 | 2092875 | 0.0 |
| 2218000 <sup>(2)</sup> | Chevron USA, Inc., 4.500%, 10/15/2032 | 2237278 | 0.0 |
| 4161000 <sup>(2)</sup> | Chevron USA, Inc., 4.850%, 10/15/2035 | 4212608 | 0.1 |
| 2183000 <sup>(1)</sup> | Columbia Pipelines Holding Co. LLC, 5.097%, 10/01/2031 | 2217735 | 0.0 |
| 3524000 <sup>(1)</sup> | Columbia Pipelines Holding Co. LLC, 6.042%, 08/15/2028 | 3678436 | 0.1 |
| 845000 | ConocoPhillips Co., 5.700%, 09/15/2063 | 838879 | 0.0 |
| 2260000 <sup>(1)(2)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 2245939 | 0.0 |
| 3669000 <sup>(1)</sup> | Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 5.625%, 05/01/2027 | 3670679 | 0.1 |
| 2900000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 3026295 | 0.0 |
| 3395000 <sup>(2)</sup> | Devon Energy Corp., 5.200%, 09/15/2034 | 3381758 | 0.0 |
| 1097000 | Diamondback Energy, Inc., 4.250%, 03/15/2052 | 861828 | 0.0 |
| 819000 | Diamondback Energy, Inc., 5.900%, 04/18/2064 | 789148 | 0.0 |
| 2284000 | Diamondback Energy, Inc., 6.250%, 03/15/2053 | 2341084 | 0.0 |
| 2200000 | Ecopetrol SA, 6.875%, 04/29/2030 | 2260940 | 0.0 |
| 9510000 | Ecopetrol SA, 8.375%, 01/19/2036 | 9847605 | 0.1 |
| 4299000 <sup>(2)(3)</sup> | Enbridge (US) Inc. 20-A, 5.750%, 07/15/2080 | 4347699 | 0.1 |
| 2209000 <sup>(2)</sup> | Energy Transfer L.P., 3.750%, 05/15/2030 | 2145566 | 0.0 |
| 242000 | Energy Transfer L.P., 4.900%, 03/15/2035 | 235656 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 2339000 | Energy Transfer L.P., 5.200%, 04/01/2030 | $2412696 | 0.0 |
| 1382000 | Energy Transfer L.P., 5.300%, 04/01/2044 | 1266946 | 0.0 |
| 280000 | Energy Transfer L.P., 5.350%, 05/15/2045 | 257073 | 0.0 |
| 910000 | Energy Transfer L.P., 6.050%, 09/01/2054 | 894113 | 0.0 |
| 1479000 | Energy Transfer L.P. 20Y, 5.800%, 06/15/2038 | 1509250 | 0.0 |
| 1579000 <sup>(2)</sup> | Enterprise Products Operating LLC, 4.950%, 02/15/2035 | 1592856 | 0.0 |
| 2115000 <sup>(2)(3)</sup> | Enterprise Products Operating LLC D, 7.433%, (TSFR3M + 3.248%), 08/16/2077 | 2116692 | 0.0 |
| 5574000 | EOG Resources, Inc., 5.000%, 07/15/2032 | 5705203 | 0.1 |
| 2803000 | EOG Resources, Inc., 5.350%, 01/15/2036 | 2879111 | 0.0 |
| 2517000 <sup>(2)</sup> | Equinor ASA, 4.500%, 09/03/2030 | 2557064 | 0.0 |
| 4226000 | Hess Corp., 4.300%, 04/01/2027 | 4241762 | 0.1 |
| 2610000 <sup>(1)(2)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 8.375%, 11/01/2033 | 2743013 | 0.0 |
| 2875000<sup>(1)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | 2986536 | 0.0 |
| 599000 | Kinder Morgan Energy Partners L.P., 5.000%, 03/01/2043 | 550297 | 0.0 |
| 4044000 | Kinder Morgan, Inc., 5.300%, 12/01/2034 | 4128395 | 0.1 |
| 3138000 <sup>(2)</sup> | Marathon Petroleum Corp., 5.125%, 12/15/2026 | 3166736 | 0.0 |
| 2897000 <sup>(2)</sup> | Marathon Petroleum Corp., 5.700%, 03/01/2035 | 2992107 | 0.0 |
| 1376000 | MPLX L.P., 1.750%, 03/01/2026 | 1361751 | 0.0 |
| 3877000 | MPLX L.P., 2.650%, 08/15/2030 | 3560963 | 0.1 |
| 940000 <sup>(2)</sup> | MPLX L.P., 4.800%, 02/15/2031 | 946035 | 0.0 |
| 2774000 | MPLX L.P., 5.000%, 01/15/2033 | 2768454 | 0.0 |
| 894000 | MPLX L.P., 5.500%, 06/01/2034 | 911613 | 0.0 |
| 2340000 <sup>(1)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 2394465 | 0.0 |
| 1638000 <sup>(2)</sup> | Occidental Petroleum Corp., 5.375%, 01/01/2032 | 1667111 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 943000 | Occidental Petroleum Corp., 6.050%, 10/01/2054 | $920954 | 0.0 |
| 4633000 <sup>(2)</sup> | Occidental Petroleum Corp., 6.125%, 01/01/2031 | 4883812 | 0.1 |
| 1838000 | Occidental Petroleum Corp., 6.200%, 03/15/2040 | 1869395 | 0.0 |
| 520000 | Occidental Petroleum Corp., 6.600%, 03/15/2046 | 544083 | 0.0 |
| 771000 | Occidental Petroleum Corp., 8.500%, 07/15/2027 | 809099 | 0.0 |
| 780000 | ONEOK Partners L.P., 6.200%, 09/15/2043 | 802182 | 0.0 |
| 2223000 | ONEOK, Inc., 6.250%, 10/15/2055 | 2259030 | 0.0 |
| 3040000 <sup>(1)</sup> | ONEOK, Inc., 6.500%, 09/01/2030 | 3267786 | 0.0 |
| 1650000 <sup>(1)</sup> | ORLEN SA, 6.000%, 01/30/2035 | 1727665 | 0.0 |
| 953000 | Ovintiv, Inc., 5.650%, 05/15/2028 | 981798 | 0.0 |
| 5018000 | Ovintiv, Inc., 7.100%, 07/15/2053 | 5424267 | 0.1 |
| 2425000 <sup>(1)(2)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 2471972 | 0.0 |
| 4000000 <sup>(1)</sup> | Petroleos del Peru SA, 4.750%, 06/19/2032 | 3487000 | 0.1 |
| 2280000 <sup>(2)</sup> | Petroleos del Peru SA, 4.750%, 06/19/2032 | 1987590 | 0.0 |
| 10350000 <sup>(2)</sup> | Petroleos Mexicanos, 5.950%, 01/28/2031 | 10060200 | 0.1 |
| 3135000 | Petroleos Mexicanos, 6.500%, 03/13/2027 | 3179674 | 0.0 |
| 4750000 <sup>(1)(2)</sup> | Raizen Fuels Finance S.A., 6.450%, 03/05/2034 | 4625312 | 0.1 |
| 2475000 <sup>(1)(2)</sup> | Raizen Fuels Finance SA, 5.700%, 01/17/2035 | 2289004 | 0.0 |
| 1125000 <sup>(1)</sup> | Raizen Fuels Finance SA, 6.250%, 07/08/2032 | 1101937 | 0.0 |
| 925000 | Sabine Pass Liquefaction LLC, 4.200%, 03/15/2028 | 924189 | 0.0 |
| 3548000 | Sabine Pass Liquefaction LLC, 5.000%, 03/15/2027 | 3570534 | 0.1 |
| 1896000 <sup>(1)(2)</sup> | Schlumberger Holdings Corp., 2.650%, 06/26/2030 | 1769062 | 0.0 |
| 2566000 <sup>(1)(2)</sup> | Schlumberger Holdings Corp., 5.000%, 11/15/2029 | 2643847 | 0.0 |
| 2195000 <sup>(1)(2)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 2207538 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 2910000 <sup>(1)(2)</sup> | Sunoco L.P., 6.250%, 07/01/2033 | $| 2964031 | 0.0 |
| 798000 | Targa Resources Corp., 5.500%, 02/15/2035 |  | 812506 | 0.0 |
| 427000 | Targa Resources Corp., 6.250%, 07/01/2052 |  | 435923 | 0.0 |
| 2745000 | Targa Resources Partners L.P. / Targa Resources Partners Finance Corp., 4.875%, 02/01/2031 |  | 2753701 | 0.0 |
| 615000 | TotalEnergies Capital SA, 5.638%, 04/05/2064 |  | 613340 | 0.0 |
| 3682000 <sup>(3)</sup> | TransCanada PipeLines Ltd., 7.000%, 06/01/2065 |  | 3788929 | 0.1 |
| 930000 | Transcontinental Gas Pipe Line Co. LLC, 3.250%, 05/15/2030 |  | 887281 | 0.0 |
| 5575000 <sup>(1)(2)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 |  | 5857515 | 0.1 |
| 950000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 |  | 1000618 | 0.0 |
| 4409000 <sup>(2)</sup> | Viper Energy Partners LLC, 5.700%, 08/01/2035 |  | 4485474 | 0.1 |
| 2199000 | Western Midstream Operating L.P., 5.300%, 03/01/2048 |  | 1915150 | 0.0 |
| 3515000 | Western Midstream Operating L.P., 5.450%, 11/15/2034 |  | 3521946 | 0.1 |
| 1032000 | Williams Cos., Inc., 4.900%, 03/15/2029 |  | 1051463 | 0.0 |
| 3607000 <sup>(2)</sup> | Woodside Finance Ltd., 5.400%, 05/19/2030 |  | 3704898 | 0.1 |
| 3367000 <sup>(2)</sup> | Woodside Finance Ltd., 5.700%, 05/19/2032 |  | 3497901 | 0.1 |
| 3759000 | Woodside Finance Ltd., 6.000%, 05/19/2035 |  | 3925775 | 0.1 |
|  |  |  | **237478246** | **2.4** |
|  | **Financial: 7.5%** | **Financial: 7.5%** | **Financial: 7.5%** | **Financial: 7.5%** |
| 2937000 <sup>(1)(3)</sup> | ABN AMRO Bank NV, 3.324%, 03/13/2037 |  | 2656645 | 0.0 |
| 2490000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 |  | 2595900 | 0.0 |
| 2780000 | Air Lease Corp., MTN, 5.200%, 07/15/2031 |  | 2833092 | 0.0 |
| 1584000 | Alleghany Corp., 3.250%, 08/15/2051 |  | 1103253 | 0.0 |
| 2525000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 |  | 2584799 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 3660000 <sup>(3)</sup> | American Express Co., 4.351%, 07/20/2029 | $3682148 | 0.1 |
| 2732000 <sup>(2)(3)</sup> | American Express Co., 5.098%, 02/16/2028 | 2768988 | 0.0 |
| 1469000 <sup>(2)(3)</sup> | American Express Co., 5.282%, 07/27/2029 | 1515409 | 0.0 |
| 3191000 <sup>(2)(3)</sup> | American Express Co., 5.532%, 04/25/2030 | 3335202 | 0.0 |
| 688000 <sup>(2)</sup> | American Homes 4 Rent L.P., 3.625%, 04/15/2032 | 644589 | 0.0 |
| 1283000 | American Homes 4 Rent L.P., 4.250%, 02/15/2028 | 1280175 | 0.0 |
| 3771000 | American Homes 4 Rent L.P., 5.500%, 02/01/2034 | 3894372 | 0.1 |
| 3407000 | American International Group, Inc., 3.400%, 06/30/2030 | 3266458 | 0.0 |
| 2342000 | American Tower Corp., 3.650%, 03/15/2027 | 2325530 | 0.0 |
| 984000 <sup>(2)</sup> | American Tower Corp., 5.250%, 07/15/2028 | 1012288 | 0.0 |
| 776000 | American Tower Corp., 5.500%, 03/15/2028 | 799996 | 0.0 |
| 2076000 | Ameriprise Financial, Inc., 5.700%, 12/15/2028 | 2174080 | 0.0 |
| 1205000 | Aon North America, Inc., 5.125%, 03/01/2027 | 1222250 | 0.0 |
| 2691000 <sup>(2)</sup> | Aon North America, Inc., 5.150%, 03/01/2029 | 2769914 | 0.0 |
| 7172000 <sup>(1)(2)</sup> | Athene Global Funding, 5.322%, 11/13/2031 | 7344173 | 0.1 |
| 9127000 <sup>(1)</sup> | Athene Global Funding, 5.684%, 02/23/2026 | 9169591 | 0.1 |
| 7003000 <sup>(1)(2)</sup> | Atlas Warehouse Lending Co. L.P., 6.050%, 01/15/2028 | 7165115 | 0.1 |
| 3330000 <sup>(1)(3)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 | 3471525 | 0.0 |
| 2000000 | Banco Nacional de Panama, 2.500%, 08/11/2030 | 1753580 | 0.0 |
| 3750000 <sup>(1)</sup> | Banco Nacional de Panama, 2.500%, 08/11/2030 | 3287963 | 0.0 |
| 5800000 | Banco Santander SA, 5.439%, 07/15/2031 | 6091674 | 0.1 |
| 2800000 <sup>(3)</sup> | Banco Santander SA, 5.538%, 03/14/2030 | 2901195 | 0.0 |
| 6031000 <sup>(3)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 5911199 | 0.1 |
| 949000 <sup>(3)</sup> | Bank of America Corp., 2.299%, 07/21/2032 | 842070 | 0.0 |
| 3524000 <sup>(3)</sup> | Bank of America Corp., 2.572%, 10/20/2032 | 3159632 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 4239000 <sup>(3)</sup> | Bank of America Corp., 2.592%, 04/29/2031 | $3929458 | 0.1 |
| 2505000 <sup>(3)</sup> | Bank of America Corp., 2.687%, 04/22/2032 | 2282583 | 0.0 |
| 8369000 <sup>(3)</sup> | Bank of America Corp., 3.419%, 12/20/2028 | 8242752 | 0.1 |
| 1230000 <sup>(2)(3)</sup> | Bank of America Corp., 5.464%, 05/09/2036 | 1282985 | 0.0 |
| 1957000 <sup>(3)</sup> | Bank of America Corp., 5.511%, 01/24/2036 | 2046534 | 0.0 |
| 3644000 <sup>(3)</sup> | Bank of America Corp., 5.518%, 10/25/2035 | 3734001 | 0.1 |
| 4089000 <sup>(3)</sup> | Bank of America Corp., 5.744%, 02/12/2036 | 4249909 | 0.1 |
| 4192000 <sup>(3)</sup> | Bank of America Corp., 5.872%, 09/15/2034 | 4493731 | 0.1 |
| 3371000 <sup>(3)</sup> | Bank of America Corp., GMTN, 3.593%, 07/21/2028 | 3340839 | 0.0 |
| 3991000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 3781082 | 0.1 |
| 1418000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.496%, 02/13/2031 | 1312748 | 0.0 |
| 1874000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 1835666 | 0.0 |
| 7129000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.884%, 10/22/2030 | 6768473 | 0.1 |
| 5723000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.972%, 02/04/2033 | 5213286 | 0.1 |
| 3750000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.194%, 07/23/2030 | 3613103 | 0.1 |
| 717000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.970%, 03/05/2029 | 713619 | 0.0 |
| 6481000 <sup>(2)(3)</sup> | Bank of Montreal, 4.640%, 09/10/2030 | 6573153 | 0.1 |
| 1560000 <sup>(3)</sup> | Bank of New York Mellon Corp., 5.316%, 06/06/2036 | 1614744 | 0.0 |
| 5962000 <sup>(3)</sup> | Bank of Nova Scotia, 4.740%, 11/10/2032 | 6032752 | 0.1 |
| 4138000 <sup>(1)(2)</sup> | Banque Federative du Credit Mutuel SA, 4.591%, 10/16/2028 | 4177252 | 0.1 |
| 6096000 <sup>(1)</sup> | Banque Federative du Credit Mutuel SA, 4.935%, 01/26/2026 | 6107804 | 0.1 |
| 4783000 <sup>(3)</sup> | Barclays PLC, 5.367%, 02/25/2031 | 4933195 | 0.1 |
| 1359000 <sup>(1)</sup> | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 1270463 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 5619000 <sup>(1)</sup> | Blackstone Holdings Finance Co. LLC, 2.000%, 01/30/2032 | $4829013 | 0.1 |
| 556000 <sup>(1)(2)</sup> | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 517916 | 0.0 |
| 3418000 <sup>(1)(3)</sup> | BNP Paribas SA, 5.085%, 05/09/2031 | 3484021 | 0.0 |
| 5613000 <sup>(1)</sup> | BPCE SA, 5.281%, 05/30/2029 | 5786450 | 0.1 |
| 2828000 <sup>(1)(3)</sup> | BPCE SA, 5.716%, 01/18/2030 | 2925642 | 0.0 |
| 3884000 | Brown & Brown, Inc., 4.900%, 06/23/2030 | 3939279 | 0.1 |
| 1687000 <sup>(1)(3)</sup> | CaixaBank SA, 5.673%, 03/15/2030 | 1750397 | 0.0 |
| 2929000 | Camden Property Trust, 5.850%, 11/03/2026 | 2982256 | 0.0 |
| 2673000 <sup>(3)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | 2604782 | 0.0 |
| 1438000 <sup>(3)</sup> | Charles Schwab Corp., 6.196%, 11/17/2029 | 1527345 | 0.0 |
| 5032000 | Chubb INA Holdings LLC, 4.900%, 08/15/2035 | 5063839 | 0.1 |
| 5556000 | CME Group, Inc., 4.400%, 03/15/2030 | 5621451 | 0.1 |
| 4035000 <sup>(1)(2)</sup> | CNO Global Funding, 5.875%, 06/04/2027 | 4142051 | 0.1 |
| 878000 <sup>(3)</sup> | CoBank ACB M, 7.125%, 12/31/2199 | 910785 | 0.0 |
| 7982000 <sup>(1)(3)</sup> | Cooperatieve Rabobank UA, 5.710%, 01/21/2033 | 8398877 | 0.1 |
| 4493000 <sup>(1)</sup> | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 4456272 | 0.1 |
| 1130000 | Corebridge Financial, Inc., 3.900%, 04/05/2032 | 1079712 | 0.0 |
| 1241000 | Corebridge Financial, Inc., 5.750%, 01/15/2034 | 1306248 | 0.0 |
| 3409000 | Corebridge Financial, Inc., 6.050%, 09/15/2033 | 3640533 | 0.1 |
| 2700000 <sup>(1)</sup> | Corp Financiera de Desarrollo SA, 2.400%, 09/28/2027 | 2596266 | 0.0 |
| 6915000 <sup>(1)(2)(3)</sup> | Credit Agricole SA, 4.818%, 09/25/2033 | 6874757 | 0.1 |
| 1462000 | Credit Suisse AG/ New York NY, 1.250%, 08/07/2026 | 1429436 | 0.0 |
| 3104000 | Credit Suisse AG/ New York NY, 5.000%, 07/09/2027 | 3156990 | 0.0 |
| 1587000 | Crown Castle, Inc., 2.100%, 04/01/2031 | 1390097 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 269000 | Crown Castle, Inc., 2.500%, 07/15/2031 | $239634 | 0.0 |
| 2091000 | Crown Castle, Inc., 2.900%, 03/15/2027 | 2051573 | 0.0 |
| 2209000 <sup>(2)</sup> | Crown Castle, Inc., 3.300%, 07/01/2030 | 2093541 | 0.0 |
| 3628000 <sup>(2)</sup> | Crown Castle, Inc., 4.800%, 09/01/2028 | 3680744 | 0.1 |
| 4322000 | Crown Castle, Inc., 4.900%, 09/01/2029 | 4385712 | 0.1 |
| 637000 <sup>(2)</sup> | Crown Castle, Inc., 5.100%, 05/01/2033 | 644936 | 0.0 |
| 1892000 | Crown Castle, Inc., 5.600%, 06/01/2029 | 1966778 | 0.0 |
| 1095000 | Crown Castle, Inc., 5.800%, 03/01/2034 | 1152900 | 0.0 |
| 2918000 | CubeSmart L.P., 2.250%, 12/15/2028 | 2748566 | 0.0 |
| 2258000 <sup>(1)(3)</sup> | Danske Bank A/S, 4.613%, 10/02/2030 | 2271016 | 0.0 |
| 2655000 <sup>(1)(3)</sup> | Danske Bank A/S, 5.705%, 03/01/2030 | 2763363 | 0.0 |
| 2157000 <sup>(1)(2)(3)</sup> | Depository Trust & Clearing Corp. D, 3.375%, 12/31/2199 | 2123808 | 0.0 |
| 6073000 | Deutsche Bank AG/ New York NY, 5.414%, 05/10/2029 | 6325668 | 0.1 |
| 1902000 <sup>(3)</sup> | Discover Bank, 5.974%, 08/09/2028 | 1970780 | 0.0 |
| 2256000 <sup>(1)(3)</sup> | DNB Bank ASA, 4.853%, 11/05/2030 | 2302532 | 0.0 |
| 3085000 <sup>(1)</sup> | EQT AB, 5.850%, 05/08/2035 | 3189767 | 0.0 |
| 5693000 <sup>(1)</sup> | Equitable Financial Life Global Funding, 5.000%, 03/27/2030 | 5837335 | 0.1 |
| 4263000 <sup>(1)</sup> | Equitable Holdings, Inc., 4.572%, 02/15/2029 | 4284257 | 0.1 |
| 1875000 | Extra Space Storage L.P., 3.900%, 04/01/2029 | 1849826 | 0.0 |
| 1330000 | Extra Space Storage L.P., 4.000%, 06/15/2029 | 1317316 | 0.0 |
| 1654000 | Extra Space Storage L.P., 5.350%, 01/15/2035 | 1687592 | 0.0 |
| 5467000 <sup>(1)(2)</sup> | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 5660944 | 0.1 |
| 987000 <sup>(2)(3)</sup> | First Citizens BancShares, Inc., 6.254%, 03/12/2040 | 1000869 | 0.0 |
| 5530000 | First Industrial L.P., 5.250%, 01/15/2031 | 5675425 | 0.1 |
| 2510000 <sup>(1)(2)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 2572381 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 2285000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | $2433073 | 0.0 |
| 7101000 <sup>(2)</sup> | GLP Capital L.P. / GLP Financing II, Inc., 5.250%, 02/15/2033 | 7118007 | 0.1 |
| 2954000 <sup>(3)</sup> | Goldman Sachs Bank USA/New York NY, 5.283%, 03/18/2027 | 2967803 | 0.0 |
| 1325000 <sup>(3)</sup> | Goldman Sachs Bank USA/New York NY, 5.414%, 05/21/2027 | 1335405 | 0.0 |
| 2573000 <sup>(2)(3)</sup> | Goldman Sachs Group, Inc., 5.016%, 10/23/2035 | 2591351 | 0.0 |
| 1285000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.049%, 07/23/2030 | 1317433 | 0.0 |
| 1769000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.330%, 07/23/2035 | 1821724 | 0.0 |
| 1590000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 1663886 | 0.0 |
| 6251000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.734%, 01/28/2056 | 6485511 | 0.1 |
| 70000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 74504 | 0.0 |
| 1266000 | Hartford Financial Services Group, Inc., 2.900%, 09/15/2051 | 822776 | 0.0 |
| 5371000 <sup>(1)(3)</sup> | Hartford Financial Services Group, Inc. ICON, 6.598%, (TSFR3M + 2.387%), 02/12/2067 | 5028584 | 0.1 |
| 4274000 | Horace Mann Educators Corp., 4.700%, 10/01/2030 | 4233932 | 0.1 |
| 2308000 <sup>(2)</sup> | Host Hotels & Resorts L.P., 5.500%, 04/15/2035 | 2325161 | 0.0 |
| 5452000 <sup>(3)</sup> | HSBC Holdings PLC, 2.206%, 08/17/2029 | 5147066 | 0.1 |
| 2450000 <sup>(3)</sup> | HSBC Holdings PLC, 2.804%, 05/24/2032 | 2221246 | 0.0 |
| 2031000 <sup>(3)</sup> | HSBC Holdings PLC, 5.597%, 05/17/2028 | 2074118 | 0.0 |
| 3524000 <sup>(3)</sup> | Huntington Bancshares, Inc., 6.141%, 11/18/2039 | 3668703 | 0.1 |
| 3464000 <sup>(2)(3)</sup> | Huntington National Bank, 4.871%, 04/12/2028 | 3501589 | 0.0 |
| 1000000 <sup>(1)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 1005668 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 4088000 <sup>(2)</sup> | Intercontinental Exchange, Inc., 2.100%, 06/15/2030 | $3709158 | 0.1 |
| 3421000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 3382192 | 0 |
| 1580000 <sup>(2)</sup> | Invitation Homes Operating Parternship L.P., 5.500%, 08/15/2033 | 1642999 | 0 |
| 2571000 | Invitation Homes Operating Partnership L.P., 2.000%, 08/15/2031 | 2223222 | 0 |
| 4577000 | Invitation Homes Operating Partnership L.P., 2.300%, 11/15/2028 | 4322410 | 0.1 |
| 1870000 <sup>(1)(2)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 1908831 | 0 |
| 3745000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 6.750%, 05/01/2033 | 3892607 | 0.1 |
| 3211000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.040%, 02/04/2027 | 3175936 | 0 |
| 2808000 <sup>(2)(3)</sup> | JPMorgan Chase & Co., 1.470%, 09/22/2027 | 2737474 | 0 |
| 6974000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 6874958 | 0.1 |
| 6815000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 6467921 | 0.1 |
| 1721000 <sup>(2)(3)</sup> | JPMorgan Chase & Co., 2.182%, 06/01/2028 | 1668544 | 0 |
| 1048000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.739%, 10/15/2030 | 989949 | 0 |
| 5278000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 5196338 | 0.1 |
| 158000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.109%, 04/22/2051 | 109337 | 0 |
| 1034000 <sup>(2)(3)</sup> | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 1020493 | 0 |
| 3804000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.452%, 12/05/2029 | 3836420 | 0.1 |
| 3489000 <sup>(2)(3)</sup> | JPMorgan Chase & Co., 4.603%, 10/22/2030 | 3530791 | 0 |
| 2501000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 2566021 | 0 |
| 1006000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 1030763 | 0 |
| 1805000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.140%, 01/24/2031 | 1864596 | 0 |
| 2250000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 2299762 | 0 |
| 10872000 <sup>(2)(3)</sup> | JPMorgan Chase & Co., 5.572%, 04/22/2036 | 11465183 | 0.1 |
| 1772000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.576%, 07/23/2036 | 1838285 | 0 |
| 2250000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.581%, 04/22/2030 | 2350794 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 1589000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.766%, 04/22/2035 | $1693640 | 0.0 |
| 1049000 | Kite Realty Group L.P., 4.000%, 10/01/2026 | 1046524 | 0.0 |
| 3100000 <sup>(1)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 3044544 | 0.0 |
| 4294000 <sup>(2)(3)</sup> | Lloyds Banking Group PLC, 8.000%, 12/31/2199 | 4650235 | 0.1 |
| 4394000 | LPL Holdings, Inc., 5.150%, 06/15/2030 | 4474085 | 0.1 |
| 3482000 <sup>(2)</sup> | LPL Holdings, Inc., 5.200%, 03/15/2030 | 3560334 | 0.0 |
| 2143000 | LPL Holdings, Inc., 5.700%, 05/20/2027 | 2184512 | 0.0 |
| 3028000 <sup>(1)</sup> | Lseg US Fin Corp., 4.875%, 03/28/2027 | 3060278 | 0.0 |
| 2655000 <sup>(1)</sup> | Lseg US Fin Corp., 5.297%, 03/28/2034 | 2749393 | 0.0 |
| 21445000 <sup>(3)</sup> | M&T Bank Corp., 5.400%, 07/30/2035 | 21614959 | 0.2 |
| 1981000 | Mid-America Apartments L.P., 5.300%, 02/15/2032 | 2063220 | 0.0 |
| 1950000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 1938156 | 0.0 |
| 1226000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.197%, 01/16/2031 | 1264377 | 0.0 |
| 11282000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.615%, 04/24/2036 | 11844260 | 0.1 |
| 3219000 <sup>(3)</sup> | Morgan Stanley, 1.593%, 05/04/2027 | 3168746 | 0.0 |
| 6221000 <sup>(3)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | 6089312 | 0.1 |
| 1919000 <sup>(3)</sup> | Morgan Stanley, 2.484%, 09/16/2036 | 1667377 | 0.0 |
| 1403000 <sup>(3)</sup> | Morgan Stanley, 3.591%, 07/22/2028 | 1388471 | 0.0 |
| 1334000 <sup>(3)</sup> | Morgan Stanley, 4.457%, 04/22/2039 | 1259826 | 0.0 |
| 1761000 <sup>(3)</sup> | Morgan Stanley, 5.042%, 07/19/2030 | 1805209 | 0.0 |
| 2110000 <sup>(2)(3)</sup> | Morgan Stanley, 5.192%, 04/17/2031 | 2179507 | 0.0 |
| 9499000 <sup>(3)</sup> | Morgan Stanley, 5.664%, 04/17/2036 | 10026532 | 0.1 |
| 3915000 <sup>(3)</sup> | Morgan Stanley, 6.296%, 10/18/2028 | 4080169 | 0.1 |
| 9076000 <sup>(3)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 8882629 | 0.1 |
| 1409000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 1399008 | 0.0 |
| 3509000 <sup>(3)</sup> | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 3592350 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** |  |  |
| 3887000 | National Bank of Canada, 5.600%, 12/18/2028 | $4056167 | 0.1 |
| 2116000 <sup>(1)</sup> | National Securities Clearing Corp., 4.700%, 05/20/2030 | 2163217 | 0.0 |
| 3900000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 6.500%, 08/01/2029 | 4013989 | 0.1 |
| 1935000 <sup>(1)</sup> | Nationwide Building Society, 4.351%, 09/30/2030 | 1928592 | 0.0 |
| 2723000 <sup>(3)</sup> | NatWest Group PLC, 5.076%, 01/27/2030 | 2782115 | 0.0 |
| 2961000 <sup>(3)</sup> | NatWest Group PLC, 5.778%, 03/01/2035 | 3123622 | 0.0 |
| 5022000 <sup>(1)</sup> | NatWest Markets PLC, 5.410%, 05/17/2029 | 5211684 | 0.1 |
| 3566000 | NNN REIT, Inc., 4.600%, 02/15/2031 | 3582707 | 0.0 |
| 2140000 <sup>(1)</sup> | Northwestern Mutual Life Insurance Co., 6.170%, 05/29/2055 | 2304821 | 0.0 |
| 2663000 <sup>(1)</sup> | Nuveen LLC, 5.550%, 01/15/2030 | 2777458 | 0.0 |
| 3133000 | Omega Healthcare Investors, Inc., 5.200%, 07/01/2030 | 3181837 | 0.0 |
| 2285000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 2378269 | 0.0 |
| 2660000 <sup>(1)(2)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 2744306 | 0.0 |
| 1111000 | Piedmont Operating Partnership L.P., 2.750%, 04/01/2032 | 947176 | 0.0 |
| 454000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 5.373%, 07/21/2036 | 467374 | 0.0 |
| 2920000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 6.037%, 10/28/2033 | 3154788 | 0.0 |
| 4075000 <sup>(1)</sup> | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 4208687 | 0.1 |
| 914000 <sup>(1)(2)</sup> | Prologis Targeted US Logistics Fund L.P., 5.500%, 04/01/2034 | 949861 | 0.0 |
| 4221000 | Raymond James Financial, Inc., 5.650%, 09/11/2055 | 4192578 | 0.1 |
| 592000 | Realty Income Corp., 3.950%, 08/15/2027 | 591598 | 0.0 |
| 7420000 | Rexford Industrial Realty L.P., 2.150%, 09/01/2031 | 6456301 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** |  |  |
| 824000 <sup>(1)(2)</sup> | RGA Global Funding, 5.448%, 05/24/2029 | $855651 | 0.0 |
| 1890000 <sup>(1)</sup> | Rocket Cos., Inc., 6.125%, 08/01/2030 | 1941134 | 0.0 |
| 2545000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 2629911 | 0.0 |
| 2829000 <sup>(3)</sup> | Royal Bank of Canada, 4.696%, 08/06/2031 | 2867533 | 0.0 |
| 4118000 <sup>(2)(3)</sup> | Royal Bank of Canada, GMTN, 4.650%, 10/18/2030 | 4167435 | 0.1 |
| 2128000 <sup>(2)(3)</sup> | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 2178425 | 0.0 |
| 2542000 <sup>(2)(3)</sup> | Royal Bank of Canada, GMTN, 5.153%, 02/04/2031 | 2619991 | 0.0 |
| 1440000 | Sabra Health Care L.P., 3.200%, 12/01/2031 | 1308452 | 0.0 |
| 2513000 <sup>(3)</sup> | Santander UK Group Holdings PLC, 2.469%, 01/11/2028 | 2454930 | 0.0 |
| 2160000 <sup>(1)(2)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 2235899 | 0.0 |
| 7544000 <sup>(2)(3)</sup> | State Street Corp., 3.031%, 11/01/2034 | 7084533 | 0.1 |
| 3795000 <sup>(2)(3)</sup> | State Street Corp., 4.675%, 10/22/2032 | 3845983 | 0.1 |
| 2058000 | State Street Corp., 4.729%, 02/28/2030 | 2104185 | 0.0 |
| 1123000 | Sumitomo Mitsui Financial Group, Inc., 3.040%, 07/16/2029 | 1074184 | 0.0 |
| 3393000 <sup>(2)</sup> | Sumitomo Mitsui Financial Group, Inc., 5.240%, 04/15/2030 | 3517417 | 0.0 |
| 4022000 | Sumitomo Mitsui Financial Group, Inc., 5.424%, 07/09/2031 | 4221615 | 0.1 |
| 2437000 | Sumitomo Mitsui Financial Group, Inc., 5.454%, 01/15/2032 | 2551507 | 0.0 |
| 3291000 | Toronto-Dominion Bank, 5.298%, 01/30/2032 | 3438866 | 0.0 |
| 1128000 <sup>(3)</sup> | Truist Financial Corp., MTN, 1.267%, 03/02/2027 | 1114086 | 0.0 |
| 4281000 <sup>(3)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 4430430 | 0.1 |
| 2230000 <sup>(3)</sup> | Truist Financial Corp., MTN, 5.867%, 06/08/2034 | 2363474 | 0.0 |
| 1330000 <sup>(3)</sup> | Truist Financial Corp., MTN, 6.123%, 10/28/2033 | 1433434 | 0.0 |
| 3556000 <sup>(1)(3)</sup> | UBS Group AG, 1.364%, 01/30/2027 | 3520412 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 975000 <sup>(1)(3)</sup> | UBS Group AG, 1.494%, 08/10/2027 | $| 952154 | 0.0 |
| <sub>477000</sub> <sup>(1)(2)(3)</sup> | UBS Group AG, 9.250%, 12/31/2199 |  | 568733 | 0.0 |
| 2217000 <sup>(1)(3)</sup> | UBS Group AG, 9.250%, 12/31/2199 |  | 2451324 | 0.0 |
| 1800000 <sup>(1)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 |  | 1862845 | 0.0 |
| 476000 <sup>(3)</sup> | Wells Fargo & Co., 5.499%, 01/23/2035 |  | 496677 | 0.0 |
| 10444000 <sup>(2)(3)</sup> | Wells Fargo & Co., 5.605%, 04/23/2036 |  | 10964526 | 0.1 |
| 657000 <sup>(3)</sup> | Wells Fargo & Co., 6.491%, 10/23/2034 |  | 730220 | 0.0 |
| 1878000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 |  | 1861403 | 0.0 |
| 3280000 <sup>(1)(2)</sup> | Westpac New Zealand Ltd., 5.132%, 02/26/2027 |  | 3329393 | 0.0 |
| 429000 | Weyerhaeuser Co., 4.750%, 05/15/2026 |  | 430229 | 0.0 |
| 5105000 <sup>(1)</sup> | Wynnton Funding Trust, 5.251%, 08/15/2035 |  | 5149667 | 0.1 |
| 8686000 <sup>(1)</sup> | Wynnton Funding Trust II, 5.991%, 08/15/2055 |  | 8921982 | 0.1 |
|  |  |  | **742890579** | **7.5** |
|  | **Government: 0.1%** | **Government: 0.1%** | **Government: 0.1%** | **Government: 0.1%** |
| 8150000 <sup>(1)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 |  | 8284475 | 0.1 |
|  | **Industrial: 2.0%** | **Industrial: 2.0%** | **Industrial: 2.0%** | **Industrial: 2.0%** |
| 2148000 <sup>(2)</sup> | 3M Co., 5.150%, 03/15/2035 |  | 2201402 | 0.0 |
| 2294000 | AGCO Corp., 5.450%, 03/21/2027 |  | 2328261 | 0.0 |
| 1415000 | Amcor Group Finance PLC, 5.450%, 05/23/2029 |  | 1462699 | 0.0 |
| 1790000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 |  | 1864703 | 0.0 |
| 2360000 <sup>(1)(2)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 |  | 2466950 | 0.0 |
| 4322000 | Arrow Electronics, Inc., 5.150%, 08/21/2029 |  | 4426071 | 0.1 |
| 3937000 <sup>(1)</sup> | BAE Systems PLC, 5.125%, 03/26/2029 |  | 4055811 | 0.1 |
| 3668000 | Berry Global, Inc., 1.650%, 01/15/2027 |  | 3554531 | 0.1 |
| 1774000 | Boeing Co., 5.930%, 05/01/2060 |  | 1773604 | 0.0 |
| 387000 <sup>(2)</sup> | Boeing Co., 6.858%, 05/01/2054 |  | 441746 | 0.0 |
| 2446000 | Boeing Co., 7.008%, 05/01/2064 |  | 2833694 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 3080000 <sup>(1)(2)</sup> | Bombardier, Inc., 7.250%, 07/01/2031 | $3268749 | 0.0 |
| 1419000 | Canadian Pacific Railway Co., 2.875%, 11/15/2029 | 1348306 | 0.0 |
| 629000 | Carrier Global Corp., 2.722%, 02/15/2030 | 589737 | 0.0 |
| 571000 | Carrier Global Corp., 5.900%, 03/15/2034 | 613042 | 0.0 |
| 3020000 <sup>(1)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 3003907 | 0.0 |
| 2045000 | Caterpillar Financial Services Corp., 4.700%, 11/15/2029 | 2095645 | 0.0 |
| 3719000 | Caterpillar, Inc., 5.200%, 05/15/2035 | 3849177 | 0.1 |
| 2750000 <sup>(1)(2)(3)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 | 2861100 | 0.0 |
| 3892000 <sup>(2)</sup> | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | 3986976 | 0.1 |
| 3770000 <sup>(2)</sup> | CNH Industrial Capital LLC, 5.500%, 01/12/2029 | 3902936 | 0.1 |
| 2914000 <sup>(2)</sup> | CRH SMW Finance DAC, 5.200%, 05/21/2029 | 3005940 | 0.0 |
| 431000 | CSX Corp., 4.650%, 03/01/2068 | 365960 | 0.0 |
| 3910000 <sup>(1)(2)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 4024168 | 0.1 |
| 2800000 <sup>(1)(2)</sup> | Energizer Holdings, Inc., 4.375%, 03/31/2029 | 2689036 | 0.0 |
| 246000 <sup>(1)</sup> | FedEx Corp., 4.550%, 04/01/2046 | 206825 | 0.0 |
| 1762724 | FedEx Corp. Class AA Pass Through Trust 20-1, AA, 1.875%, 08/20/2035 | 1529641 | 0.0 |
| 4322000 <sup>(2)</sup> | Flex Ltd., 5.250%, 01/15/2032 | 4434329 | 0.1 |
| 2209000 | Fortune Brands Innovations, Inc., 3.250%, 09/15/2029 | 2114996 | 0.0 |
| 1361000 <sup>(2)</sup> | Fortune Brands Innovations, Inc., 4.000%, 03/25/2032 | 1297688 | 0.0 |
| 2910000 <sup>(1)(2)</sup> | FTAI Aviation Investors LLC, 7.000%, 06/15/2032 | 3047925 | 0.0 |
| 1231000 | GATX Corp., 4.000%, 06/30/2030 | 1211284 | 0.0 |
| 730000 <sup>(2)</sup> | GATX Corp., 6.050%, 06/05/2054 | 759541 | 0.0 |
| 3933000 | HEICO Corp., 5.250%, 08/01/2028 | 4039524 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 4418000 | Honeywell International, Inc., 4.750%, 02/01/2032 | $4501534 | 0.1 |
| 1305000 | Honeywell International, Inc., 5.000%, 03/01/2035 | 1327373 | 0.0 |
| 2209000 <sup>(2)</sup> | Huntington Ingalls Industries, Inc., 4.200%, 05/01/2030 | 2179469 | 0.0 |
| 2830000 <sup>(1)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 2755004 | 0.0 |
| 1116000 | Ingersoll Rand, Inc., 5.176%, 06/15/2029 | 1153600 | 0.0 |
| 1318000 <sup>(2)</sup> | Ingersoll Rand, Inc., 5.400%, 08/14/2028 | 1363718 | 0.0 |
| 739000 <sup>(2)</sup> | Ingersoll Rand, Inc., 5.450%, 06/15/2034 | 770972 | 0.0 |
| 3334000 <sup>(2)</sup> | John Deere Capital Corp., 4.400%, 09/08/2031 | 3359011 | 0.1 |
| 6059000 <sup>(2)</sup> | John Deere Capital Corp., MTN, 4.700%, 06/10/2030 | 6218764 | 0.1 |
| 2577000 <sup>(2)</sup> | John Deere Capital Corp., MTN, 4.850%, 06/11/2029 | 2649429 | 0.0 |
| 4774000 <sup>(2)</sup> | John Deere Capital Corp., MTN, 4.900%, 03/07/2031 | 4925158 | 0.1 |
| 1040000 <sup>(1)</sup> | Komatsu Finance America, Inc., 4.196%, 09/18/2030 | 1034836 | 0.0 |
| 2016000 <sup>(2)</sup> | L3Harris Technologies, Inc., 5.050%, 06/01/2029 | 2073760 | 0.0 |
| 669000 <sup>(2)</sup> | Mohawk Industries, Inc., 5.850%, 09/18/2028 | 699401 | 0.0 |
| 310000 | Norfolk Southern Corp., 5.050%, 08/01/2030 | 321598 | 0.0 |
| 910000 | Norfolk Southern Corp., 5.550%, 03/15/2034 | 965641 | 0.0 |
| 157000 | Norfolk Southern Corp., 5.950%, 03/15/2064 | 166136 | 0.0 |
| 2950000 <sup>(1)(2)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 3006717 | 0.0 |
| 3339000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.200%, 11/15/2025 | 3325161 | 0.0 |
| 4012000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.700%, 06/15/2026 | 3938608 | 0.1 |
| 4819000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 07/01/2029 | 4958091 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 3819000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 02/01/2030 | $3940919 | 0.1 |
| 7085000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 7290357 | 0.1 |
| 1945000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2016234 | 0.0 |
| 1980000 <sup>(2)</sup> | Raytheon Technologies Corp., 4.450%, 11/16/2038 | 1864557 | 0.0 |
| 3343000 | Ryder System, Inc., 5.000%, 03/15/2030 | 3428269 | 0.1 |
| 1690000 <sup>(2)</sup> | Ryder System, Inc., 6.600%, 12/01/2033 | 1894100 | 0.0 |
| 2007000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 2056034 | 0.0 |
| 2013000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 2068550 | 0.0 |
| 385000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 399020 | 0.0 |
| 2756000 <sup>(2)</sup> | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | 2876786 | 0.0 |
| 2986000 <sup>(1)</sup> | Sealed Air Corp., 1.573%, 10/15/2026 | 2894269 | 0.0 |
| 2825000 <sup>(1)(2)</sup> | Sealed Air Corp/Sealed Air Corp. US, 7.250%, 02/15/2031 | 2967855 | 0.0 |
| 1200000 <sup>(1)(2)</sup> | Sensata Technologies, Inc., 6.625%, 07/15/2032 | 1243144 | 0.0 |
| 5944000 | Smurfit Kappa Treasury ULC, 5.200%, 01/15/2030 | 6124782 | 0.1 |
| 1983000 | Smurfit Kappa Treasury ULC, 5.438%, 04/03/2034 | 2058961 | 0.0 |
| 847000 <sup>(2)</sup> | Smurfit Kappa Treasury ULC, 5.777%, 04/03/2054 | 865982 | 0.0 |
| 1940000 <sup>(1)(2)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 2050450 | 0.0 |
| 2193000 <sup>(2)</sup> | Sonoco Products Co., 4.600%, 09/01/2029 | 2207091 | 0.0 |
| 720000 <sup>(1)(2)</sup> | Standard Building Solutions, Inc., 6.500%, 08/15/2032 | 739473 | 0.0 |
| 3925000 <sup>(1)(2)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | 3765761 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Terex Corp., 6.250%, 10/15/2032 | 2548790 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 2210000 <sup>(1)(2)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | $| 2286630 | 0.0 |
| 441000 | Union Pacific Corp., 3.750%, 02/05/2070 |  | 307332 | 0.0 |
| 100000 | Union Pacific Corp., 3.799%, 04/06/2071 |  | 70592 | 0.0 |
| 119000 | Union Pacific Corp., 4.100%, 09/15/2067 |  | 90714 | 0.0 |
| 2424000 <sup>(2)</sup> | Union Pacific Corp., 5.100%, 02/20/2035 |  | 2493608 | 0.0 |
| 243000 | Union Pacific Corp., 5.150%, 01/20/2063 |  | 228343 | 0.0 |
| 3023000 | United Parcel Service, Inc., 5.950%, 05/14/2055 |  | 3160160 | 0.0 |
| 1414000 | United Parcel Service, Inc., 6.050%, 05/14/2065 |  | 1481471 | 0.0 |
| 2500000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 |  | 2595743 | 0.0 |
| 2250000 | Westinghouse Air Brake Technologies Corp., 4.700%, 09/15/2028 |  | 2281879 | 0.0 |
|  |  |  | **203647741** | **2.0** |
|  | **Technology: 2.0%** | **Technology: 2.0%** | **Technology: 2.0%** | **Technology: 2.0%** |
| 8155000 | Accenture Capital, Inc., 4.250%, 10/04/2031 |  | 8147939 | 0.1 |
| 4705000 <sup>(2)</sup> | Adobe, Inc., 4.950%, 01/17/2030 |  | 4877895 | 0.1 |
| 2400000 <sup>(1)(2)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 |  | 2493986 | 0.0 |
| 3913000 <sup>(1)(2)</sup> | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 |  | 3840150 | 0.0 |
| 5034000 <sup>(1)</sup> | Broadcom, Inc., 2.450%, 02/15/2031 |  | 4580025 | 0.1 |
| 4997000 <sup>(1)(2)</sup> | Broadcom, Inc., 3.187%, 11/15/2036 |  | 4266260 | 0.1 |
| 2779000 | Broadcom, Inc., 4.800%, 10/15/2034 |  | 2799512 | 0.0 |
| 3884000 | Broadcom, Inc., 4.900%, 07/15/2032 |  | 3974401 | 0.1 |
| 7138000 <sup>(1)</sup> | Broadcom, Inc., 4.926%, 05/15/2037 |  | 7121978 | 0.1 |
| 2417000 | Broadcom, Inc., 5.050%, 04/15/2030 |  | 2500581 | 0.0 |
| 2232000 | Broadcom, Inc., 5.150%, 11/15/2031 |  | 2319832 | 0.0 |
| 1160000 | Broadcom, Inc., 5.200%, 04/15/2032 |  | 1208174 | 0.0 |
| 3351000 | Cadence Design Systems, Inc., 4.300%, 09/10/2029 |  | 3373728 | 0.0 |
| 2159000 <sup>(2)</sup> | CDW LLC / CDW Finance Corp., 5.100%, 03/01/2030 |  | 2197899 | 0.0 |
| 3620000 <sup>(1)(2)</sup> | Cloud Software Group, Inc., 8.250%, 06/30/2032 |  | 3843927 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Technology: (continued)** |  |  |
| 2823000 <sup>(1)(2)</sup> | Constellation Software, Inc./Canada, 5.158%, 02/16/2029 | $2883571 | 0.0 |
| 1745000 <sup>(1)(2)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 1804337 | 0.0 |
| 736000 | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | 742037 | 0.0 |
| 2923000 | Fiserv, Inc., 5.150%, 03/15/2027 | 2962513 | 0.0 |
| 1267000 <sup>(2)</sup> | Fiserv, Inc., 5.150%, 08/12/2034 | 1282733 | 0.0 |
| 1770000 <sup>(1)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 1855475 | 0.0 |
| 1013000 <sup>(1)</sup> | Foundry JV Holdco LLC, 5.875%, 01/25/2034 | 1056325 | 0.0 |
| 1517000 <sup>(1)</sup> | Foundry JV Holdco LLC, 5.900%, 01/25/2030 | 1600586 | 0.0 |
| 2348000 <sup>(1)</sup> | Foundry JV Holdco LLC, 6.200%, 01/25/2037 | 2507618 | 0.0 |
| 4709000 | Hewlett Packard Enterprise Co., 4.850%, 10/15/2031 | 4759830 | 0.1 |
| 7720000 | Hewlett Packard Enterprise Co., 5.600%, 10/15/2054 | 7388278 | 0.1 |
| 2241000 | HP, Inc., 2.650%, 06/17/2031 | 2022164 | 0.0 |
| 3913000 | IBM International Capital Pte Ltd., 4.750%, 02/05/2031 | 3993073 | 0.1 |
| 224000 <sup>(2)</sup> | Intel Corp., 5.600%, 02/21/2054 | 215229 | 0.0 |
| 1732000 | Intel Corp., 5.700%, 02/10/2053 | 1676106 | 0.0 |
| 5721000 <sup>(2)</sup> | International Business Machines Corp., 4.800%, 02/10/2030 | 5856494 | 0.1 |
| 3394000 <sup>(2)</sup> | International Business Machines Corp., 5.000%, 02/10/2032 | 3496886 | 0.0 |
| 2662000 <sup>(2)</sup> | International Business Machines Corp., 5.200%, 02/10/2035 | 2733736 | 0.0 |
| 4686000 <sup>(2)</sup> | International Business Machines Corp., 5.700%, 02/10/2055 | 4754005 | 0.1 |
| 1652000 | Intuit, Inc., 5.125%, 09/15/2028 | 1705991 | 0.0 |
| 4514000 <sup>(2)</sup> | Intuit, Inc., 5.500%, 09/15/2053 | 4550120 | 0.1 |
| 2250000 <sup>(2)</sup> | Kyndryl Holdings, Inc., 2.700%, 10/15/2028 | 2145067 | 0.0 |
| 1836000 | Marvell Technology, Inc., 5.750%, 02/15/2029 | 1916043 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 2925000 | Micron Technology, Inc., 5.800%, 01/15/2035 | $3078597 | 0.0 |
| 9154000 | Micron Technology, Inc., 6.050%, 11/01/2035 | 9785912 | 0.1 |
| 4737000 <sup>(1)</sup> | MSCI, Inc., 3.625%, 09/01/2030 | 4523187 | 0.1 |
| 2373000 | NetApp, Inc., 5.500%, 03/17/2032 | 2470308 | 0.0 |
| 4184000 | NXP BV / NXP Funding LLC, 5.350%, 03/01/2026 | 4190213 | 0.1 |
| 1521000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 3.400%, 05/01/2030 | 1462206 | 0.0 |
| 4220000 <sup>(1)(2)</sup> | Open Text Holdings, Inc., 4.125%, 12/01/2031 | 3906537 | 0.0 |
| 5315000 | Oracle Corp., 2.300%, 03/25/2028 | 5082452 | 0.1 |
| 2306000 | Oracle Corp., 2.950%, 04/01/2030 | 2173366 | 0.0 |
| 2691000 | Oracle Corp., 3.800%, 11/15/2037 | 2327534 | 0.0 |
| 162000 | Oracle Corp., 3.850%, 07/15/2036 | 144318 | 0.0 |
| 456000 | Oracle Corp., 3.850%, 04/01/2060 | 313825 | 0.0 |
| 2420000 | Oracle Corp., 5.200%, 09/26/2035 | 2434247 | 0.0 |
| 4832000 | Oracle Corp., 5.375%, 09/27/2054 | 4441885 | 0.1 |
| 1978000 | Oracle Corp., 5.500%, 09/27/2064 | 1812890 | 0.0 |
| 2860000 | Oracle Corp., 5.875%, 09/26/2045 | 2869418 | 0.0 |
| 5830000 | Oracle Corp., 5.950%, 09/26/2055 | 5816104 | 0.1 |
| 3953000 <sup>(2)</sup> | Oracle Corp., 6.000%, 08/03/2055 | 3971174 | 0.1 |
| 3560000 <sup>(2)</sup> | Oracle Corp., 6.100%, 09/26/2065 | 3556091 | 0.0 |
| 1591000 | Oracle Corp., 6.125%, 08/03/2065 | 1598340 | 0.0 |
| 2095000 <sup>(1)(2)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | 1925378 | 0.0 |
| 2405000 | Qualcomm, Inc., 4.750%, 05/20/2032 | 2451256 | 0.0 |
| 3820000 <sup>(2)</sup> | Qualcomm, Inc., 6.000%, 05/20/2053 | 4109123 | 0.1 |
| 2338000 | Synopsys, Inc., 5.000%, 04/01/2032 | 2389974 | 0.0 |
| 2017000 | Take-Two Interactive Software, Inc., 5.400%, 06/12/2029 | 2089007 | 0.0 |
| 2209000 | Teledyne FLIR LLC, 2.500%, 08/01/2030 | 2023891 | 0.0 |
|  |  | **202401737** | **2.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: 2.8%** | **Utilities: 2.8%** | **Utilities: 2.8%** |
| 3388000 <sup>(1)</sup> | AEP Texas, Inc., 3.850%, 10/01/2025 | $3388000 | 0.0 |
| 4035000 | AEP Texas, Inc., 5.450%, 05/15/2029 | 4188396 | 0.1 |
| 1446000 | AEP Transmission Co. LLC, 5.150%, 04/01/2034 | 1477771 | 0.0 |
| 2649000 | AES Corp., 1.375%, 01/15/2026 | 2624824 | 0.0 |
| 2172000 <sup>(1)</sup> | AES Corp., 3.950%, 07/15/2030 | 2099835 | 0.0 |
| 2487000 <sup>(2)</sup> | AES Corp., 5.450%, 06/01/2028 | 2547819 | 0.0 |
| 3935000 <sup>(2)</sup> | AES Corp., 5.800%, 03/15/2032 | 4076022 | 0.1 |
| 2446179 | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 2320812 | 0.0 |
| 1024000 | Alabama Power Co., 5.850%, 11/15/2033 | 1099481 | 0.0 |
| 2014000 <sup>(3)</sup> | Algonquin Power & Utilities Corp., 5.365%, 06/15/2026 | 2028938 | 0.0 |
| 1860000 <sup>(1)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 | 1921381 | 0.0 |
| 1990000 | Ameren Corp., 1.750%, 03/15/2028 | 1880768 | 0.0 |
| 1636000 | Ameren Corp., 5.000%, 01/15/2029 | 1673356 | 0.0 |
| 2236000 <sup>(1)</sup> | American Transmission Systems, Inc., 2.650%, 01/15/2032 | 2007240 | 0.0 |
| 2036000 | Avangrid, Inc., 3.800%, 06/01/2029 | 1999805 | 0.0 |
| 1790000 | Black Hills Corp., 3.050%, 10/15/2029 | 1700859 | 0.0 |
| 11150000 | Black Hills Corp., 4.550%, 01/31/2031 | 11156685 | 0.1 |
| 1028000 <sup>(2)</sup> | Black Hills Corp., 6.000%, 01/15/2035 | 1095284 | 0.0 |
| 1899000 <sup>(1)</sup> | Boston Gas Co., 5.843%, 01/10/2035 | 2004647 | 0.0 |
| 1750000 | CenterPoint Energy, Inc., 5.400%, 06/01/2029 | 1811530 | 0.0 |
| 2859202 <sup>(1)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 | 2939617 | 0.0 |
| 1765000 <sup>(1)</sup> | Cleveland Electric Illuminating Co., 3.500%, 04/01/2028 | 1734509 | 0.0 |
| 1274000 <sup>(3)</sup> | CMS Energy Corp., 3.750%, 12/01/2050 | 1178055 | 0.0 |
| 4656000 <sup>(3)</sup> | CMS Energy Corp., 4.750%, 06/01/2050 | 4548663 | 0.1 |
| 3750000 <sup>(1)(2)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 3820313 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 5075000 <sup>(1)(2)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 | $5192029 | 0.1 |
| 399000 | Consolidated Edison Co. of New York, Inc. 05-A, 5.300%, 03/01/2035 | 410730 | 0.0 |
| 1228000 | DTE Energy Co., 4.950%, 07/01/2027 | 1243891 | 0.0 |
| 3384000 | DTE Energy Co., 5.200%, 04/01/2030 | 3488360 | 0.1 |
| 1036000 <sup>(2)</sup> | Duke Energy Carolinas LLC, 2.550%, 04/15/2031 | 949207 | 0.0 |
| 2801000 <sup>(2)</sup> | Duke Energy Florida LLC, 2.400%, 12/15/2031 | 2519574 | 0.0 |
| 820000 | Duke Energy Florida LLC, 5.875%, 11/15/2033 | 885477 | 0.0 |
| 1330000 <sup>(2)</sup> | Duke Energy Ohio, Inc., 2.125%, 06/01/2030 | 1215186 | 0.0 |
| 3247000 | Duke Energy Progress LLC, 5.550%, 03/15/2055 | 3268971 | 0.1 |
| 1316000 <sup>(1)</sup> | Duquesne Light Holdings, Inc., 2.532%, 10/01/2030 | 1184634 | 0.0 |
| 1896000 | Entergy Corp., 2.400%, 06/15/2031 | 1695795 | 0.0 |
| 1029000 | Entergy Corp., 2.800%, 06/15/2030 | 960685 | 0.0 |
| 1648000 | Entergy Mississippi LLC, 5.000%, 09/01/2033 | 1681964 | 0.0 |
| 1771000 <sup>(2)</sup> | Entergy Texas, Inc., 4.000%, 03/30/2029 | 1762338 | 0.0 |
| 3934000 | Essential Utilities, Inc., 2.704%, 04/15/2030 | 3664408 | 0.1 |
| 1048000 | Essential Utilities, Inc., 5.375%, 01/15/2034 | 1073560 | 0.0 |
| 1664000 | Evergy Kansas Central, Inc., 5.250%, 03/15/2035 | 1697524 | 0.0 |
| 734000 <sup>(2)</sup> | Evergy Kansas Central, Inc., 5.900%, 11/15/2033 | 790534 | 0.0 |
| 1773000 | Evergy Metro, Inc. 2020, 2.250%, 06/01/2030 | 1625508 | 0.0 |
| 2209000 <sup>(2)</sup> | Eversource Energy, 2.550%, 03/15/2031 | 1993039 | 0.0 |
| 4069000 | Eversource Energy, 2.900%, 03/01/2027 | 3997725 | 0.1 |
| 1116000 | Eversource Energy, 5.125%, 05/15/2033 | 1132125 | 0.0 |
| 2467000 <sup>(2)</sup> | Eversource Energy, 5.450%, 03/01/2028 | 2534626 | 0.0 |
| 1302000 | Eversource Energy, 5.500%, 01/01/2034 | 1345582 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 2494000 | Eversource Energy, 5.950%, 02/01/2029 | $2613353 | 0.0 |
| 2241000 <sup>(2)</sup> | Eversource Energy U, 1.400%, 08/15/2026 | 2187508 | 0.0 |
| 3971000 | Exelon Corp., 5.150%, 03/15/2028 | 4063985 | 0.1 |
| 1749000 | Exelon Corp., 5.150%, 03/15/2029 | 1799885 | 0.0 |
| 3065000 | FirstEnergy Corp. B, 3.900%, 07/15/2027 | 3046953 | 0.1 |
| 1569000 | Florida Power & Light Co., 4.625%, 05/15/2030 | 1599024 | 0.0 |
| 1836000 | Florida Power & Light Co., 5.300%, 06/15/2034 | 1916492 | 0.0 |
| 1311000 | Georgia Power Co., 4.650%, 05/16/2028 | 1330851 | 0.0 |
| 1906000 | IPALCO Enterprises, Inc., 4.250%, 05/01/2030 | 1867802 | 0.0 |
| 570000 <sup>(1)(2)</sup> | Jersey Central Power & Light Co., 2.750%, 03/01/2032 | 510038 | 0.0 |
| 2953000 <sup>(1)</sup> | Jersey Central Power & Light Co., 4.300%, 01/15/2026 | 2952720 | 0.0 |
| 799000 | Kentucky Utilities Co. KENT, 5.450%, 04/15/2033 | 836707 | 0.0 |
| 2250000 <sup>(1)(2)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 2322130 | 0.0 |
| 3356000 <sup>(1)(2)</sup> | Liberty Utilities Co., 5.869%, 01/31/2034 | 3479066 | 0.1 |
| 2480000 <sup>(1)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 | 2627414 | 0.0 |
| 799000 | Louisville Gas and Electric Co. LOU, 5.450%, 04/15/2033 | 836770 | 0.0 |
| 62000 | Mississippi Power Co., 4.750%, 10/15/2041 | 55879 | 0.0 |
| 2006000 <sup>(1)</sup> | Monongahela Power Co., 3.550%, 05/15/2027 | 1988941 | 0.0 |
| 1793000 <sup>(1)</sup> | Monongahela Power Co., 5.850%, 02/15/2034 | 1896581 | 0.0 |
| 2387000 <sup>(1)</sup> | Narragansett Electric Co., 3.395%, 04/09/2030 | 2291942 | 0.0 |
| 2634000 <sup>(2)</sup> | National Grid PLC, 5.418%, 01/11/2034 | 2736283 | 0.0 |
| 3811000 | National Rural Utilities Cooperative Finance Corp., 2.400%, 03/15/2030 | 3542676 | 0.1 |
| 1992000 | National Rural Utilities Cooperative Finance Corp., 2.750%, 04/15/2032 | 1800420 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 556000 | National Rural Utilities Cooperative Finance Corp., 4.150%, 12/15/2032 | $543425 | 0.0 |
| 2846000 | National Rural Utilities Cooperative Finance Corp., 5.000%, 08/15/2034 | 2904915 | 0.0 |
| 326000 <sup>(2)</sup> | National Rural Utilities Cooperative Finance Corp., 5.800%, 01/15/2033 | 349910 | 0.0 |
| 1994000 <sup>(3)</sup> | National Rural Utilities Cooperative Finance Corp., 7.482%, (TSFR3M + 3.172%), 04/30/2043 | 1989978 | 0.0 |
| 1909000 | National Rural Utilities Cooperative Finance Corp., MTN, 1.650%, 06/15/2031 | 1650766 | 0.0 |
| 3483000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 3388293 | 0.1 |
| 4451000 <sup>(3)</sup> | NextEra Energy Capital Holdings, Inc., 3.800%, 03/15/2082 | 4346247 | 0.1 |
| 2747000 <sup>(2)</sup> | NextEra Energy Capital Holdings, Inc., 5.300%, 03/15/2032 | 2854546 | 0.0 |
| 2688000 <sup>(3)</sup> | NextEra Energy Capital Holdings, Inc., 6.375%, 08/15/2055 | 2793520 | 0.0 |
| 2801000 <sup>(2)(3)</sup> | NextEra Energy Capital Holdings, Inc., 6.500%, 08/15/2055 | 2969847 | 0.0 |
| 2000000 <sup>(1)(2)</sup> | Niagara Energy SAC, 5.746%, 10/03/2034 | 2056010 | 0.0 |
| 2980000 <sup>(1)</sup> | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 2684805 | 0.0 |
| 406000 <sup>(1)</sup> | Niagara Mohawk Power Corp., 5.664%, 01/17/2054 | 404234 | 0.0 |
| 3305000 <sup>(2)</sup> | NiSource, Inc., 5.850%, 04/01/2055 | 3355522 | 0.1 |
| 7116000 <sup>(1)</sup> | NorthWestern Corp., 5.073%, 03/21/2030 | 7300643 | 0.1 |
| 2125000 <sup>(1)(2)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 | 2159693 | 0.0 |
| 1173000 | NSTAR Electric Co., 1.950%, 08/15/2031 | 1027037 | 0.0 |
| 836000 | NSTAR Electric Co., 5.400%, 06/01/2034 | 870899 | 0.0 |
| 1011000 | OGE Energy Corp., 5.450%, 05/15/2029 | 1050751 | 0.0 |
| 1342000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 1384361 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 1171000 | Pacific Gas and Electric Co., 4.300%, 03/15/2045 | $940754 | 0.0 |
| 696000 | Pacific Gas and Electric Co., 4.450%, 04/15/2042 | 584776 | 0.0 |
| 2283000 <sup>(1)</sup> | Pennsylvania Electric Co., 5.150%, 03/30/2026 | 2289700 | 0.0 |
| 3141000 <sup>(1)</sup> | PSEG Power LLC, 5.200%, 05/15/2030 | 3224221 | 0.1 |
| 3721000 <sup>(1)(2)</sup> | PSEG Power LLC, 5.750%, 05/15/2035 | 3895903 | 0.1 |
| 1318000 <sup>(2)</sup> | Public Service Electric and Gas Co., MTN, 5.200%, 03/01/2034 | 1367406 | 0.0 |
| 1399000 | Public Service Enterprise Group, Inc., 1.600%, 08/15/2030 | 1227540 | 0.0 |
| 2994000 <sup>(2)</sup> | Public Service Enterprise Group, Inc., 2.450%, 11/15/2031 | 2657985 | 0.0 |
| 2440000 | Public Service Enterprise Group, Inc., 4.900%, 03/15/2030 | 2496181 | 0.0 |
| 3558000 | Public Service Enterprise Group, Inc., 5.200%, 04/01/2029 | 3673212 | 0.1 |
| 1086000 <sup>(2)</sup> | Public Service Enterprise Group, Inc., 5.400%, 03/15/2035 | 1119864 | 0.0 |
| 2700000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | 2796191 | 0.0 |
| 3686000 <sup>(2)(3)</sup> | Sempra, 6.400%, 10/01/2054 | 3771534 | 0.1 |
| 4593000 | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 3947782 | 0.1 |
| 3166000 | Southern Co., 5.113%, 08/01/2027 | 3220656 | 0.1 |
| 4114000 <sup>(3)</sup> | Southern Co. 21-A, 3.750%, 09/15/2051 | 4064465 | 0.1 |
| 1071000 | Southwestern Electric Power Co., 5.300%, 04/01/2033 | 1097335 | 0.0 |
| 4102000 | Southwestern Electric Power Co. N, 1.650%, 03/15/2026 | 4054301 | 0.1 |
| 8722000 | Southwestern Public Service Co., 5.300%, 05/15/2035 | 8909925 | 0.1 |
| 455000 <sup>(2)</sup> | Southwestern Public Service Co., 6.000%, 06/01/2054 | 474491 | 0.0 |
| 2883000 | Tucson Electric Power Co., 5.200%, 09/15/2034 | 2935646 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 2795000 <sup>(1)</sup> | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | $| 2738530 | 0 |
| 3809000 | WEC Energy Group, Inc., 1.375%, 10/15/2027 |  | 3610610 | 0.1 |
| 2240000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 |  | 2113007 | 0 |
| 1057000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 |  | 1077419 | 0 |
| 1222000 <sup>(2)</sup> | Wisconsin Electric Power Co., 1.700%, 06/15/2028 |  | 1153043 | 0 |
| 1354000 | Wisconsin Power and Light Co., 5.375%, 03/30/2034 |  | 1407040 | 0 |
| 2854000 <sup>(2)</sup> | Xcel Energy, Inc., 5.600%, 04/15/2035 |  | 2960887 | 0 |
|  |  |  | **281837308** | **2.8** |
|  | Total Corporate Bonds/ Notes |  |  |  |
|  | (Cost $2,586,293,341) |  | **2627277494** | **26.4** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 15.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 15.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 15.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 15.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 15.1%** |
|  | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(4)</sup>** |
| 70000 | 2.500%, 05/01/2030 |  | 67818 | 0 |
| 170893 | 2.500%, 05/01/2030 |  | 165433 | 0 |
| 279463 | 2.500%, 06/01/2030 |  | 270556 | 0 |
| 577052 | 3.000%, 11/01/2042 |  | 531799 | 0 |
| 575338 | 3.000%, 02/01/2043 |  | 529986 | 0 |
| 632787 | 3.000%, 03/01/2045 |  | 577261 | 0 |
| 659887 | 3.000%, 03/01/2045 |  | 604847 | 0 |
| 1883816 | 3.000%, 04/01/2045 |  | 1723966 | 0 |
| 1931669 | 3.000%, 04/01/2045 |  | 1764966 | 0 |
| 858555 | 3.000%, 10/01/2046 |  | 786672 | 0 |
| 7280474 | 3.000%, 10/01/2046 |  | 6592034 | 0.1 |
| 2818929 | 3.000%, 03/01/2048 |  | 2552433 | 0 |
| 3445518 | 3.000%, 03/01/2048 |  | 3120854 | 0.1 |
| 9100223 | 3.000%, 08/01/2048 |  | 8214355 | 0.1 |
| 2816445 | 3.500%, 01/01/2045 |  | 2665056 | 0 |
| 1036479 | 3.500%, 03/01/2045 |  | 975724 | 0 |
| 4389758 | 3.500%, 12/01/2046 |  | 4119640 | 0.1 |
| 8013139 | 3.500%, 12/01/2046 |  | 7503779 | 0.1 |
| 3470605 | 3.500%, 04/01/2047 |  | 3261982 | 0.1 |
| 2318678 | 3.500%, 07/01/2047 |  | 2169829 | 0 |
| 2194792 | 3.500%, 10/01/2047 |  | 2045928 | 0 |
| 8533480 | 3.500%, 01/01/2048 |  | 7955249 | 0.1 |
| 1153677 | 3.500%, 03/01/2048 |  | 1077055 | 0 |
| 20453712 | 3.500%, 03/01/2048 |  | 19130099 | 0.2 |
| 231269 | 4.000%, 10/01/2041 |  | 224298 | 0 |
| 332032 | 4.000%, 12/01/2041 |  | 322199 | 0 |
| 1030941 | 4.000%, 08/01/2044 |  | 994117 | 0 |
| 323338 | 4.000%, 07/01/2045 |  | 311824 | 0 |
| 503380 | 4.000%, 09/01/2045 |  | 480264 | 0 |
| 805329 | 4.000%, 09/01/2045 |  | 776651 | 0 |
| 974374 | 4.000%, 09/01/2045 |  | 939272 | 0 |
| 7867153 | 4.000%, 11/01/2045 |  | 7582104 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Federal Home Loan Mortgage Corporation (continued)** | **Federal Home Loan Mortgage Corporation (continued)** | **Federal Home Loan Mortgage Corporation (continued)** | **Federal Home Loan Mortgage Corporation (continued)** |
| 792654 | 4.000%, 05/01/2046 | $| 763525 | 0.0 |
| 487332 | 4.000%, 05/01/2047 |  | 471529 | 0.0 |
| 2783379 | 4.000%, 11/01/2047 |  | 2673563 | 0.0 |
| 169221 | 4.000%, 03/01/2048 |  | 162983 | 0.0 |
| 3150486 | 4.000%, 06/01/2048 |  | 3053643 | 0.0 |
| 133698 | 4.500%, 08/01/2041 |  | 133731 | 0.0 |
| 339225 | 4.500%, 09/01/2041 |  | 339834 | 0.0 |
| 335792 | 4.500%, 10/01/2041 |  | 336774 | 0.0 |
| 956686 | 4.500%, 03/01/2044 |  | 953973 | 0.0 |
| 1542238 | 4.500%, 02/01/2048 |  | 1524493 | 0.0 |
| 181771 | 4.500%, 06/01/2048 |  | 179642 | 0.0 |
| 31284 | 5.000%, 01/01/2041 |  | 32094 | 0.0 |
| 180394 | 5.000%, 04/01/2041 |  | 182556 | 0.0 |
| 9698 | 5.500%, 07/01/2037 |  | 10109 | 0.0 |
| 548835 | 5.500%, 11/01/2038 |  | 570701 | 0.0 |
| 5938 | 6.000%, 01/01/2029 |  | 6071 | 0.0 |
| 1265 | 6.500%, 12/01/2031 |  | 1311 | 0.0 |
| 141496 | 6.500%, 09/01/2034 |  | 146714 | 0.0 |
| 1972 <sup>(3)</sup> | 6.502%, (RFUCCT1Y + 1.755%), 05/01/2037 |  | 2028 | 0.0 |
|  |  |  | **101583324** | **1.0** |
|  | **Federal National Mortgage Association: 0.3%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.3%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.3%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.3%<sup>(4)</sup>** |
| 14189754 | 3.000%, 12/01/2054 |  | 12596783 | 0.2 |
| 1881423 | 3.500%, 01/01/2044 |  | 1778138 | 0.0 |
| 2338136 | 4.000%, 12/01/2046 |  | 2281319 | 0.0 |
| 905325 | 4.500%, 09/01/2047 |  | 898027 | 0.0 |
| 6769134 | 5.000%, 08/01/2056 |  | 6792262 | 0.1 |
| 48425 | 6.000%, 05/01/2038 |  | 49951 | 0.0 |
|  |  |  | **24396480** | **0.3** |
|  | **Government National Mortgage Association: 3.0%** | **Government National Mortgage Association: 3.0%** | **Government National Mortgage Association: 3.0%** | **Government National Mortgage Association: 3.0%** |
| 7574903 | 2.500%, 03/20/2051 |  | 6531644 | 0.1 |
| 4319534 | 2.500%, 04/20/2051 |  | 3725974 | 0.0 |
| 17821899 | 2.500%, 04/20/2051 |  | 15367290 | 0.2 |
| 6137613 | 2.500%, 05/20/2051 |  | 5290361 | 0.1 |
| 15936579 | 2.500%, 08/20/2051 |  | 13741438 | 0.1 |
| 6906901 | 2.500%, 09/20/2051 |  | 5953397 | 0.1 |
| 12025540 | 2.500%, 11/20/2051 |  | 10365372 | 0.1 |
| 15968995 | 2.500%, 12/20/2051 |  | 13764381 | 0.1 |
| 20835821 | 2.500%, 04/20/2052 |  | 17959303 | 0.2 |
| 4530365 | 3.000%, 10/20/2049 |  | 4115949 | 0.0 |
| 2418239 | 3.000%, 11/20/2049 |  | 2197036 | 0.0 |
| 2177741 | 3.000%, 10/20/2051 |  | 1947316 | 0.0 |
| 4015969 | 3.000%, 10/20/2051 |  | 3509787 | 0.0 |
| 2437465 | 3.000%, 11/20/2051 |  | 2130241 | 0.0 |
| 580574 | 3.500%, 07/20/2046 |  | 529936 | 0.0 |
| 2515238 | 3.500%, 07/20/2046 |  | 2277229 | 0.0 |
| 804619 | 3.500%, 10/20/2046 |  | 739410 | 0.0 |
| 338141 | 3.500%, 02/20/2047 |  | 311990 | 0.0 |
| 217438 | 3.500%, 03/20/2047 |  | 200081 | 0.0 |
| 237325 | 3.500%, 07/20/2047 |  | 220434 | 0.0 |
| 528519 | 3.500%, 08/20/2047 |  | 486336 | 0.0 |
| 571537 | 3.500%, 09/20/2047 |  | 525207 | 0.0 |
| 5004044 | 3.500%, 12/20/2047 |  | 4612865 | 0.1 |
| 3008280 | 3.500%, 01/20/2048 |  | 2779376 | 0.0 |
| 2580265 | 3.500%, 02/20/2048 |  | 2358401 | 0.0 |
| 4506195 | 3.500%, 02/20/2048 |  | 4175868 | 0.1 |
| 346345 | 3.500%, 03/20/2048 |  | 318912 | 0.0 |
| 11873889 | 3.500%, 03/20/2048 |  | 10986842 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 88764 | 4.000%, 11/20/2040 | $| 87277 | 0.0 |
| 500004 | 4.000%, 03/20/2046 |  | 478964 | 0.0 |
| 6559183 | 4.000%, 09/20/2047 |  | 6278991 | 0.1 |
| 3047283 | 4.000%, 02/20/2050 |  | 2908368 | 0.0 |
| 5280817 | 4.000%, 05/20/2053 |  | 5010842 | 0.1 |
| 118923 | 4.500%, 10/15/2039 |  | 120892 | 0.0 |
| 83780 | 4.500%, 11/15/2039 |  | 83728 | 0.0 |
| 92600 | 4.500%, 11/15/2039 |  | 92315 | 0.0 |
| 28477 | 4.500%, 12/15/2039 |  | 28442 | 0.0 |
| 5307068 | 4.500%, 08/20/2040 |  | 5341389 | 0.1 |
| 6233316 | 4.500%, 09/20/2040 |  | 6269817 | 0.1 |
| 4122441 | 4.500%, 06/20/2041 |  | 4126328 | 0.1 |
| 26514 | 4.500%, 08/20/2041 |  | 26686 | 0.0 |
| 514750 | 4.500%, 09/15/2047 |  | 505853 | 0.0 |
| 3592722 | 5.000%, 11/20/2052 |  | 3597084 | 0.0 |
| 1004476 | 5.000%, 01/20/2053 |  | 1004869 | 0.0 |
| 1776765 | 5.000%, 06/20/2053 |  | 1777085 | 0.0 |
| 80000000 <sup>(5)</sup> | 5.500%, 10/20/2055 |  | 80607882 | 0.8 |
| 41563000 <sup>(5)</sup> | 6.000%, 10/20/2055 |  | 42276629 | 0.4 |
|  |  |  | **297745817** | **3.0** |
|  | **Uniform Mortgage-Backed Securities: 10.8%** | **Uniform Mortgage-Backed Securities: 10.8%** | **Uniform Mortgage-Backed Securities: 10.8%** | **Uniform Mortgage-Backed Securities: 10.8%** |
| 16508562 | 2.000%, 12/01/2050 |  | 13449375 | 0.1 |
| 10300369 | 2.000%, 05/01/2051 |  | 8456709 | 0.1 |
| 22151318 | 2.000%, 05/01/2051 |  | 17972522 | 0.2 |
| 29227102 | 2.000%, 05/01/2051 |  | 23758831 | 0.2 |
| 851729 | 2.000%, 07/01/2051 |  | 692202 | 0.0 |
| 4345576 | 2.000%, 08/01/2051 |  | 3539998 | 0.0 |
| 9186253 | 2.000%, 08/01/2051 |  | 7463748 | 0.1 |
| 17859142 | 2.000%, 09/01/2051 |  | 14501432 | 0.2 |
| 8428789 | 2.000%, 10/01/2051 |  | 6839043 | 0.1 |
| 817437 | 2.000%, 11/01/2051 |  | 668085 | 0.0 |
| 1823356 | 2.000%, 11/01/2051 |  | 1490219 | 0.0 |
| 14407134 | 2.000%, 11/01/2051 |  | 11847710 | 0.1 |
| 7301502 | 2.000%, 12/01/2051 |  | 5971825 | 0.1 |
| 25438214 | 2.000%, 12/01/2051 |  | 20639859 | 0.2 |
| 4248987 | 2.000%, 01/01/2052 |  | 3487296 | 0.0 |
| 3587705 | 2.000%, 02/01/2052 |  | 2938837 | 0.0 |
| 4290456 | 2.000%, 02/01/2052 |  | 3516671 | 0.0 |
| 7027725 | 2.000%, 02/01/2052 |  | 5756455 | 0.1 |
| 7282838 | 2.000%, 02/01/2052 |  | 5956152 | 0.1 |
| 10282440 | 2.000%, 02/01/2052 |  | 8436383 | 0.1 |
| 10686222 | 2.000%, 02/01/2052 |  | 8784394 | 0.1 |
| 12140428 | 2.000%, 02/01/2052 |  | 9979932 | 0.1 |
| 21764132 | 2.000%, 02/01/2052 |  | 17645828 | 0.2 |
| 23419043 | 2.000%, 02/01/2052 |  | 19195504 | 0.2 |
| 4414988 | 2.000%, 03/01/2052 |  | 3618788 | 0.0 |
| 4545597 | 2.000%, 03/01/2052 |  | 3731942 | 0.0 |
| 5313414 | 2.000%, 03/01/2052 |  | 4327819 | 0.1 |
| 5707125 | 2.000%, 04/01/2052 |  | 4691446 | 0.1 |
| 364656 | 2.500%, 05/01/2030 |  | 353420 | 0.0 |
| 534726 | 2.500%, 06/01/2030 |  | 519457 | 0.0 |
| 706253 | 2.500%, 06/01/2030 |  | 685770 | 0.0 |
| 302161 | 2.500%, 07/01/2030 |  | 293260 | 0.0 |
| 12557 | 2.500%, 02/01/2050 |  | 10713 | 0.0 |
| 19856 | 2.500%, 04/01/2050 |  | 16897 | 0.0 |
| 15756 | 2.500%, 05/01/2050 |  | 13431 | 0.0 |
| 30113 | 2.500%, 05/01/2050 |  | 25677 | 0.0 |
| 30453 | 2.500%, 05/01/2050 |  | 25949 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 56580 | 2.500%, 05/01/2050 | $48228 | 0.0 |
| 154832 | 2.500%, 05/01/2050 | 131991 | 0.0 |
| 14164 | 2.500%, 06/01/2050 | 12071 | 0.0 |
| 1443051 | 2.500%, 06/01/2050 | 1237828 | 0.0 |
| 17187798 | 2.500%, 06/01/2050 | 14781541 | 0.2 |
| 187039 | 2.500%, 07/01/2050 | 159357 | 0.0 |
| 2933001 | 2.500%, 07/01/2050 | 2499729 | 0.0 |
| 23070480 | 2.500%, 07/01/2050 | 19681362 | 0.2 |
| 91614 | 2.500%, 08/01/2050 | 78193 | 0.0 |
| 634456 | 2.500%, 08/01/2050 | 541264 | 0.0 |
| 1662360 | 2.500%, 08/01/2050 | 1416617 | 0.0 |
| 1865171 | 2.500%, 08/01/2050 | 1587611 | 0.0 |
| 19402083 | 2.500%, 08/01/2050 | 16685735 | 0.2 |
| 23514 | 2.500%, 09/01/2050 | 20072 | 0.0 |
| 71786 | 2.500%, 09/01/2050 | 61048 | 0.0 |
| 176374 | 2.500%, 09/01/2050 | 150246 | 0.0 |
| 723271 | 2.500%, 09/01/2050 | 615211 | 0.0 |
| 836378 | 2.500%, 09/01/2050 | 711666 | 0.0 |
| 3580104 | 2.500%, 10/01/2050 | 3046636 | 0.0 |
| 3808174 | 2.500%, 10/01/2050 | 3227718 | 0.0 |
| 3064280 | 2.500%, 11/01/2050 | 2614346 | 0.0 |
| 72648 | 2.500%, 01/01/2051 | 61854 | 0.0 |
| 9047180 | 2.500%, 02/01/2051 | 7701929 | 0.1 |
| 20256719 | 2.500%, 04/01/2051 | 17204594 | 0.2 |
| 2991169 | 2.500%, 05/01/2051 | 2556353 | 0.0 |
| 33554760 | 2.500%, 06/01/2051 | 28520292 | 0.3 |
| 3612899 | 2.500%, 09/01/2051 | 3092847 | 0.0 |
| 16649917 | 2.500%, 11/01/2051 | 14149587 | 0.2 |
| 2253088 | 2.500%, 12/01/2051 | 1933527 | 0.0 |
| 14375179 | 2.500%, 12/01/2051 | 12356900 | 0.1 |
| 13762119 | 2.500%, 01/01/2052 | 11813979 | 0.1 |
| 3191952 | 2.500%, 02/01/2052 | 2743278 | 0.0 |
| 3282218 | 2.500%, 02/01/2052 | 2813580 | 0.0 |
| 5619042 | 2.500%, 02/01/2052 | 4796029 | 0.1 |
| 6506166 | 2.500%, 02/01/2052 | 5553262 | 0.1 |
| 10286174 | 2.500%, 02/01/2052 | 8718251 | 0.1 |
| 99388280 | 2.500%, 02/01/2052 | 84927183 | 0.9 |
| 5472028 | 2.500%, 03/01/2052 | 4681948 | 0.1 |
| 7949700 | 2.500%, 03/01/2052 | 6793116 | 0.1 |
| 25681642 | 2.500%, 03/01/2052 | 22007112 | 0.2 |
| 15936393 | 2.500%, 04/01/2052 | 13592223 | 0.1 |
| 494646 | 3.000%, 08/01/2030 | 485871 | 0.0 |
| 249378 | 3.000%, 09/01/2030 | 244497 | 0.0 |
| 597088 | 3.000%, 08/01/2035 | 578949 | 0.0 |
| 1295778 | 3.000%, 04/01/2043 | 1192468 | 0.0 |
| 1237050 | 3.000%, 07/01/2043 | 1137644 | 0.0 |
| 390263 | 3.000%, 08/01/2043 | 359197 | 0.0 |
| 258155 | 3.000%, 09/01/2043 | 237494 | 0.0 |
| 4215578 | 3.000%, 04/01/2045 | 3856274 | 0.0 |
| 824601 | 3.000%, 08/01/2046 | 748273 | 0.0 |
| 1791508 | 3.000%, 08/01/2046 | 1622355 | 0.0 |
| 595404 | 3.000%, 11/01/2046 | 542498 | 0.0 |
| 1327439 | 3.000%, 12/01/2046 | 1200447 | 0.0 |
| 5143932 | 3.000%, 12/01/2046 | 4653398 | 0.1 |
| 9924931 | 3.000%, 01/01/2047 | 8975439 | 0.1 |
| 2430568 | 3.000%, 02/01/2047 | 2198020 | 0.0 |
| 3085872 | 3.000%, 03/01/2047 | 2790631 | 0.0 |
| 2349887 | 3.000%, 07/01/2047 | 2125138 | 0.0 |
| 18855607 | 3.000%, 10/01/2050 | 16724078 | 0.2 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 1737773 | 3.000%, 03/01/2051 | $1534705 | 0.0 |
| 4105380 | 3.000%, 01/01/2052 | 3641954 | 0.0 |
| 3129675 | 3.000%, 02/01/2052 | 2790724 | 0.0 |
| 3518688 | 3.000%, 02/01/2052 | 3136325 | 0.0 |
| 4219277 | 3.000%, 02/01/2052 | 3754198 | 0.0 |
| 4484491 | 3.000%, 02/01/2052 | 4003859 | 0.0 |
| 4640527 | 3.000%, 02/01/2052 | 4137800 | 0.1 |
| 9686144 | 3.000%, 02/01/2052 | 8623800 | 0.1 |
| 8356447 | 3.000%, 03/01/2052 | 7447278 | 0.1 |
| 13145065 | 3.000%, 03/01/2052 | 11676149 | 0.1 |
| 17344331 | 3.000%, 05/01/2052 | 15438779 | 0.2 |
| 9088853 | 3.500%, 06/01/2034 | 8918794 | 0.1 |
| 1565918 | 3.500%, 10/01/2042 | 1478569 | 0.0 |
| 677096 | 3.500%, 04/01/2043 | 639047 | 0.0 |
| 1972859 | 3.500%, 08/01/2043 | 1862198 | 0.0 |
| 1194519 | 3.500%, 03/01/2044 | 1127418 | 0.0 |
| 142900 | 3.500%, 01/01/2046 | 134362 | 0.0 |
| 110512 | 3.500%, 02/01/2046 | 103834 | 0.0 |
| 224079 | 3.500%, 02/01/2046 | 210784 | 0.0 |
| 634869 | 3.500%, 08/01/2047 | 593323 | 0.0 |
| 858508 | 3.500%, 09/01/2047 | 799928 | 0.0 |
| 10910119 | 3.500%, 11/01/2047 | 10229182 | 0.1 |
| 320026 | 3.500%, 12/01/2047 | 298191 | 0.0 |
| 747608 | 3.500%, 02/01/2048 | 692195 | 0.0 |
| 673809 | 3.500%, 05/01/2048 | 625573 | 0.0 |
| 6112724 | 3.500%, 07/01/2048 | 5718078 | 0.1 |
| 1538500 | 3.500%, 10/01/2049 | 1442253 | 0.0 |
| 1901208 | 3.500%, 02/01/2052 | 1749389 | 0.0 |
| 7559873 | 3.500%, 07/01/2052 | 6923379 | 0.1 |
| 80896 | 4.000%, 03/01/2042 | 78790 | 0.0 |
| 75791 | 4.000%, 07/01/2042 | 73754 | 0.0 |
| 282438 | 4.000%, 07/01/2042 | 272914 | 0.0 |
| 616107 | 4.000%, 07/01/2042 | 599552 | 0.0 |
| 355643 | 4.000%, 09/01/2043 | 345902 | 0.0 |
| 994179 | 4.000%, 01/01/2045 | 956996 | 0.0 |
| 6480686 | 4.000%, 01/01/2045 | 6311140 | 0.1 |
| 722037 | 4.000%, 03/01/2045 | 690037 | 0.0 |
| 2503375 | 4.000%, 05/01/2045 | 2411556 | 0.0 |
| 735935 | 4.000%, 06/01/2045 | 708562 | 0.0 |
| 691393 | 4.000%, 11/01/2045 | 667594 | 0.0 |
| 2085189 | 4.000%, 02/01/2046 | 2007203 | 0.0 |
| 3728573 | 4.000%, 07/01/2047 | 3586775 | 0.0 |
| 336487 | 4.000%, 08/01/2047 | 323707 | 0.0 |
| 946222 | 4.000%, 08/01/2047 | 907611 | 0.0 |
| 40593 | 4.000%, 03/01/2048 | 38992 | 0.0 |
| 301211 | 4.000%, 03/01/2048 | 289725 | 0.0 |
| 2294211 | 4.000%, 09/01/2048 | 2202040 | 0.0 |
| 6744478 | 4.000%, 04/01/2049 | 6472360 | 0.1 |
| 7844938 | 4.000%, 05/01/2052 | 7454760 | 0.1 |
| 4893082 | 4.000%, 06/01/2052 | 4669388 | 0.1 |
| 2792600 | 4.000%, 11/01/2052 | 2687753 | 0.0 |
| 4651356 | 4.000%, 11/01/2052 | 4402199 | 0.1 |
| 8902380 | 4.000%, 12/01/2054 | 8397866 | 0.1 |
| 798818 | 4.250%, 11/01/2043 | 785973 | 0.0 |
| 62929 | 4.500%, 11/01/2040 | 62998 | 0.0 |
| 184907 | 4.500%, 11/01/2040 | 185511 | 0.0 |
| 1072627 | 4.500%, 11/01/2040 | 1074258 | 0.0 |
| 1881 | 4.500%, 12/01/2040 | 1883 | 0.0 |
| 3109 | 4.500%, 12/01/2040 | 3117 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 2038 | 4.500%, 01/01/2041 | $| 2034 | 0.0 |
| 3596 | 4.500%, 01/01/2041 |  | 3598 | 0.0 |
| 132063 | 4.500%, 10/01/2041 |  | 131884 | 0.0 |
| 236466 | 4.500%, 10/01/2044 |  | 233401 | 0.0 |
| 356911 | 4.500%, 12/01/2045 |  | 354441 | 0.0 |
| 251194 | 4.500%, 04/01/2047 |  | 249504 | 0.0 |
| 731647 | 4.500%, 04/01/2047 |  | 723408 | 0.0 |
| 1284938 | 4.500%, 04/01/2047 |  | 1271279 | 0.0 |
| 1810897 | 4.500%, 04/01/2047 |  | 1794513 | 0.0 |
| 457481 | 4.500%, 05/01/2047 |  | 449369 | 0.0 |
| 573182 | 4.500%, 05/01/2047 |  | 568958 | 0.0 |
| 730785 | 4.500%, 05/01/2047 |  | 723199 | 0.0 |
| 754941 | 4.500%, 05/01/2047 |  | 751093 | 0.0 |
| 772172 | 4.500%, 05/01/2047 |  | 767094 | 0.0 |
| 284199 | 4.500%, 06/01/2047 |  | 280882 | 0.0 |
| 410618 | 4.500%, 06/01/2047 |  | 405825 | 0.0 |
| 518559 | 4.500%, 06/01/2047 |  | 513060 | 0.0 |
| 1316123 | 4.500%, 07/01/2047 |  | 1300757 | 0.0 |
| 97852 | 4.500%, 08/01/2047 |  | 96689 | 0.0 |
| 6147276 | 4.500%, 08/01/2052 |  | 6019042 | 0.1 |
| 6927722 | 4.500%, 12/01/2054 |  | 6725197 | 0.1 |
| 998777 | 5.000%, 05/01/2042 |  | 1024599 | 0.0 |
| 46690 | 5.500%, 03/01/2037 |  | 48249 | 0.0 |
| 57320 | 5.500%, 06/01/2039 |  | 59673 | 0.0 |
| 503346 | 5.500%, 10/01/2039 |  | 521567 | 0.0 |
| 45055321 | 5.500%, 06/01/2053 |  | 45616338 | 0.5 |
| 34975674 | 5.500%, 08/01/2053 |  | 35339332 | 0.4 |
| 2739014 | 5.500%, 04/01/2054 |  | 2772996 | 0.0 |
| 22317049 | 5.500%, 10/01/2054 |  | 22529955 | 0.2 |
| 2652913 | 5.500%, 02/01/2055 |  | 2677222 | 0.0 |
| 46500000 <sup>(5)</sup> | 5.500%, 11/01/2055 |  | 46855820 | 0.5 |
| 32675 | 6.000%, 09/01/2036 |  | 33806 | 0.0 |
| 520823 | 6.000%, 10/01/2053 |  | 533674 | 0.0 |
| 3998733 | 6.000%, 12/01/2053 |  | 4097217 | 0.1 |
| 2421766 | 6.000%, 05/01/2054 |  | 2477042 | 0.0 |
| 33283703 | 6.000%, 07/01/2054 |  | 34044357 | 0.4 |
| 25536558 | 6.000%, 09/01/2054 |  | 26111579 | 0.3 |
| 39185724 | 6.000%, 09/01/2054 |  | 40069421 | 0.4 |
| 91 | 6.500%, 09/01/2031 |  | 95 | 0.0 |
| 329 | 6.500%, 09/01/2031 |  | 340 | 0.0 |
| 7258 | 6.500%, 11/01/2031 |  | 7495 | 0.0 |
| 3731 | 6.500%, 04/01/2032 |  | 3853 | 0.0 |
| 849 | 6.500%, 08/01/2032 |  | 877 | 0.0 |
| 2742 | 6.500%, 08/01/2032 |  | 2830 | 0.0 |
| 1819 | 7.000%, 12/01/2027 |  | 1899 | 0.0 |
| 566 | 7.000%, 10/01/2031 |  | 591 | 0.0 |
| 342 | 7.500%, 09/01/2030 |  | 354 | 0.0 |
| 937 | 7.500%, 09/01/2031 |  | 969 | 0.0 |
| 7912 | 7.500%, 02/01/2032 |  | 8107 | 0.0 |
|  |  |  | **1072911032** | **10.8** |
|  | Total U.S. Government Agency Obligations |  |  |  |
|  | (Cost $1,579,185,559) |  | **1496636653** | **15.1** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 14.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 14.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 14.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 14.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 14.5%** |
| 1564000 <sup>(1)(3)</sup> | Ajax Mortgage Loan Trust 2019-F A3, 3.500%, 07/25/2059 |  | 1489036 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 848197 <sup>(3)</sup> | Alternative Loan Trust 2004-J7 M1, 4.597%, (TSFR1M + 1.134%), 10/25/2034 | $845597 | 0.0 |
| 322207 <sup>(3)</sup> | Alternative Loan Trust 2005-53T2 2A6, 4.772%, (TSFR1M + 0.614%), 11/25/2035 | 165195 | 0.0 |
| 355268 | Alternative Loan Trust 2005-65CB 2A4, 5.500%, 12/25/2035 | 242180 | 0.0 |
| 810751 <sup>(3)</sup> | Alternative Loan Trust 2005-J2 1A12, 4.672%, (TSFR1M + 0.514%), 04/25/2035 | 623884 | 0.0 |
| 570654 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | 261299 | 0.0 |
| 110082 <sup>(3)</sup> | Alternative Loan Trust 2006-18CB A10, 4.672%, (TSFR1M + 0.514%), 07/25/2036 | 41710 | 0.0 |
| 653638 <sup>(3)</sup> | Alternative Loan Trust 2006-19CB A28, 4.872%, (TSFR1M + 0.714%), 08/25/2036 | 290029 | 0.0 |
| 802518 <sup>(3)</sup> | Alternative Loan Trust 2007-23CB A3, 4.772%, (TSFR1M + 0.614%), 09/25/2037 | 282408 | 0.0 |
| 1773633 <sup>(3)</sup> | Alternative Loan Trust 2007-2CB 2A1, 4.872%, (TSFR1M + 0.714%), 03/25/2037 | 699476 | 0.0 |
| 816830 | Alternative Loan Trust 2007-3T1 1A11, 6.000%, 04/25/2037 | 356322 | 0.0 |
| 687408 <sup>(3)</sup> | Alternative Loan Trust 2007-8CB A3, 4.772%, (TSFR1M + 0.614%), 05/25/2037 | 287689 | 0.0 |
| 938888 <sup>(3)</sup> | American Home Mortgage Assets Trust 2007-4 A4, 4.852%, (TSFR1M + 0.694%), 08/25/2037 | 853825 | 0.0 |
| 416193 <sup>(1)(3)</sup> | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 400943 | 0.0 |
| 441927 <sup>(3)</sup> | Banc of America Funding Trust 2007-2 1A16, 4.872%, (TSFR1M + 0.714%), 03/25/2037 | 334729 | 0.0 |
| 533428 <sup>(6)</sup> | Banc of America Mortgage Trust 2007-2 A8, 6.000%, 05/25/2037 | 52963 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2318105 <sup>(1)(3)</sup> | Bayview MSR Opportunity Master Fund Trust 2022-2 AF, 5.000%, (SOFR30A + 0.850%), 12/25/2051 | $2152295 | 0.0 |
| 393076 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2005-4 23A1, 5.425%, 05/25/2035 | 376888 | 0.0 |
| 696894 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2005-7 21A1, 5.619%, 09/25/2035 | 542971 | 0.0 |
| 1915956 <sup>(1)(3)</sup> | Chase Home Lending Mortgage Trust 2019-1 B3, 3.880%, 03/25/2050 | 1711095 | 0.0 |
| 2321308 <sup>(1)(3)</sup> | Chase Home Lending Mortgage Trust 2024-8 B3, 7.083%, 08/25/2055 | 2425548 | 0.0 |
| 689810 <sup>(1)(3)</sup> | Chase Home Lending Mortgage Trust Series 2025-9 A3, 5.500%, 06/25/2056 | 694450 | 0.0 |
| 429117 | CHL Mortgage Pass-Through Trust 2007-7 A7, 5.750%, 06/25/2037 | 195980 | 0.0 |
| 564465 <sup>(1)(3)</sup> | CHNGE Mortgage Trust 2022-1 A1, 3.007%, 01/25/2067 | 546659 | 0.0 |
| 52267 <sup>(1)(3)</sup> | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 50194 | 0.0 |
| 190829 <sup>(1)(3)</sup> | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 174189 | 0.0 |
| 2535737 <sup>(1)(3)</sup> | CIM Trust 2019-J2 B2, 3.765%, 10/25/2049 | 2317020 | 0.0 |
| 846031 <sup>(1)(3)</sup> | CIM Trust 2019-J2 B3, 3.765%, 10/25/2049 | 773180 | 0.0 |
| 3100000 <sup>(1)(3)</sup> | CIM Trust 2019-R5 M2, 3.250%, 09/25/2059 | 2902760 | 0.0 |
| 2877380 <sup>(1)(3)</sup> | CIM Trust 2020-J1 B3, 3.440%, 10/25/2049 | 2519750 | 0.0 |
| 620081 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | 572849 | 0.0 |
| 454489 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.524%, 11/25/2036 | 404750 | 0.0 |
| 218859 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2007-10 22AA, 4.487%, 09/25/2037 | 202599 | 0.0 |
| 374998 <sup>(1)(3)</sup> | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 368808 | 0.0 |
| 1230794 <sup>(1)(3)</sup> | Citigroup Mortgage Loan Trust 2021-J2 B2W, 2.768%, 07/25/2051 | 1052332 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1383328 <sup>(1)(3)</sup> | Citigroup Mortgage Loan Trust 2021-J2 B3W, 2.768%, 07/25/2051 | $1172467 | 0.0 |
| 588570 <sup>(1)(3)</sup> | Connecticut Avenue Securities Trust 2019- R05 1B1, 8.571%, (SOFR30A + 4.214%), 07/25/2039 | 600216 | 0.0 |
| 800000 <sup>(1)(3)</sup> | Connecticut Avenue Securities Trust 2020- SBT1 1M2, 8.121%, (SOFR30A + 3.764%), 02/25/2040 | 829672 | 0.0 |
| 13600000 <sup>(1)(3)</sup> | Connecticut Avenue Securities Trust 2022- R01 1B1, 7.506%, (SOFR30A + 3.150%), 12/25/2041 | 13934750 | 0.2 |
| 556484 <sup>(1)</sup> | CSMC Series 2008-2R 1A1, 6.000%, 07/25/2037 | 481311 | 0.0 |
| 533953 <sup>(1)(3)</sup> | CSMC Trust 2015-2 B3, 3.869%, 02/25/2045 | 515545 | 0.0 |
| 43751313 <sup>(3)(6)</sup> | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 X, 0.743%, 04/25/2037 | 1797184 | 0.0 |
| 55315 <sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2016-C01 2M2, 11.421%, (SOFR30A + 7.064%), 08/25/2028 | 56450 | 0.0 |
| 4578457 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 7.471%, (SOFR30A + 3.114%), 01/25/2040 | 4685209 | 0.1 |
| 2500000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 7.656%, (SOFR30A + 3.300%), 11/25/2041 | 2550861 | 0.0 |
| 1000000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 11.356%, (SOFR30A + 7.000%), 04/25/2042 | 1074694 | 0.0 |
| 1000000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R09 2B1, 11.106%, (SOFR30A + 6.750%), 09/25/2042 | 1099310 | 0.0 |
| 4000000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 9.706%, (SOFR30A + 5.350%), 05/25/2043 | 4372030 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 7418600 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 9.106%, (SOFR30A + 4.750%), 06/25/2043 | $7976937 | 0.1 |
| 2210000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R07 2B1, 8.856%, (SOFR30A + 4.500%), 09/25/2043 | 2380437 | 0.0 |
| 9300000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R07 2M2, 7.606%, (SOFR30A + 3.250%), 09/25/2043 | 9677967 | 0.1 |
| 3200000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 7.156%, (SOFR30A + 2.800%), 03/25/2044 | 3314150 | 0.0 |
| 1500000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2M2, 6.306%, (SOFR30A + 1.950%), 03/25/2044 | 1513535 | 0.0 |
| 8400000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 6.556%, (SOFR30A + 2.200%), 05/25/2044 | 8485660 | 0.1 |
| 2825000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1M2, 6.006%, (SOFR30A + 1.650%), 05/25/2044 | 2834715 | 0.0 |
| 10950000 <sup>(1)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 6.306%, (SOFR30A + 1.950%), 02/25/2045 | 10993659 | 0.1 |
| 1874 <sup>(3)</sup> | Fannie Mae Grantor Trust 1998-T2 A6, 0.027%, (US0001M + 0.550%), 01/25/2032 | 1873 | 0.0 |
| 96544 <sup>(6)</sup> | Fannie Mae Interest Strip 418 20, 3.000%, 05/25/2043 | 12788 | 0.0 |
| 133524 <sup>(6)</sup> | Fannie Mae Interest Strip 418 59, 3.000%, 08/25/2028 | 3234 | 0.0 |
| 81766847 <sup>(6)</sup> | Fannie Mae Interest Strip 428 C28, 2.000%, 07/25/2037 | 4298712 | 0.1 |
| 116889606 <sup>(6)</sup> | Fannie Mae Interest Strip 440 C50, 4.500%, 10/25/2053 | 26419950 | 0.3 |
| 21963 | Fannie Mae REMIC Trust 1999-33 Z, 6.000%, 07/25/2029 | 22360 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 98174 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2001-72 SC, 1.000%, (-1.000\*SOFR30A + 8.386%), 12/25/2031 | $1924 | 0 |
| 1925 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2001-8 SK, 4.249%, (-1.000\*SOFR30A + 8.636%), 03/18/2031 | 29 | 0 |
| 2428428 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 | 2456330 | 0 |
| 363338 | Fannie Mae REMIC Trust 2003-105 AZ, 5.500%, 10/25/2033 | 376949 | 0 |
| 161618 <sup>(3)</sup> | Fannie Mae REMIC Trust 2003-45 FJ, 5.970%, (SOFR30A + 1.614%), 06/25/2033 | 164920 | 0 |
| 380457 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2003-49 SW, 2.529%, (-1.000\*SOFR30A + 6.886%), 01/25/2033 | 31730 | 0 |
| 525968 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2003-66 SA, 3.179%, (-1.000\*SOFR30A + 7.536%), 07/25/2033 | 57776 | 0 |
| 97717 <sup>(6)</sup> | Fannie Mae REMIC Trust 2003-74 IO, 6.000%, 08/25/2033 | 14573 | 0 |
| 212122 | Fannie Mae REMIC Trust 2003-84 PZ, 5.000%, 09/25/2033 | 216640 | 0 |
| 424846 | Fannie Mae REMIC Trust 2004-50 VZ, 5.500%, 07/25/2034 | 441849 | 0 |
| 1687738 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2004-54 SN, 2.579%, (-1.000\*SOFR30A + 6.936%), 07/25/2034 | 126272 | 0 |
| 21469 <sup>(3)</sup> | Fannie Mae REMIC Trust 2004-56 FE, 4.921%, (SOFR30A + 0.564%), 10/25/2033 | 21441 | 0 |
| 158889 | Fannie Mae REMIC Trust 2004-7 Z, 5.500%, 02/25/2034 | 164461 | 0 |
| 357064 | Fannie Mae REMIC Trust 2004-75 ZG, 4.500%, 10/25/2034 | 358861 | 0 |
| 1041285 | Fannie Mae REMIC Trust 2005-25 Z, 5.000%, 04/25/2035 | 1063897 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 3831856 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2005-75 ES, 1.579%, (-1.000\*SOFR30A + 5.936%), 09/25/2035 | $285137 | 0.0 |
| 246250 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2005-75 SP, 2.279%, (-1.000\*SOFR30A + 6.636%), 08/25/2035 | 10984 | 0.0 |
| 48169 <sup>(3)</sup> | Fannie Mae REMIC Trust 2006-104 ES, 11.097%, (-1.000\*SOFR30A + 32.878%), 11/25/2036 | 63596 | 0.0 |
| 583330 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2006-12 SD, 2.279%, (-1.000\*SOFR30A + 6.636%), 10/25/2035 | 37850 | 0.0 |
| 289485 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2006-123 UI, 2.269%, (-1.000\*SOFR30A + 6.626%), 01/25/2037 | 26596 | 0.0 |
| 859776 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2006-56 SM, 2.279%, (-1.000\*SOFR30A + 6.636%), 07/25/2036 | 63093 | 0.0 |
| 6536 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2006-72 HS, 2.229%, (-1.000\*SOFR30A + 6.586%), 08/25/2026 | 64 | 0.0 |
| 16550 | Fannie Mae REMIC Trust 2007-10 Z, 6.000%, 02/25/2037 | 17426 | 0.0 |
| 298915 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2007-21 SB, 1.929%, (-1.000\*SOFR30A + 6.286%), 03/25/2037 | 26517 | 0.0 |
| 707247 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2007-52 NS, 1.979%, (-1.000\*SOFR30A + 6.336%), 06/25/2037 | 68280 | 0.0 |
| 477518 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2007-85 SM, 1.989%, (-1.000\*SOFR30A + 6.346%), 09/25/2037 | 44608 | 0.0 |
| 1201676 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2007-91 AS, 1.929%, (-1.000\*SOFR30A + 6.286%), 10/25/2037 | 110388 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1364775 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2008-12 SC, 1.879%, (-1.000\*SOFR30A + 6.236%), 03/25/2038 | $103340 | 0.0 |
| 179249 | Fannie Mae REMIC Trust 2008-16 Z, 5.500%, 03/25/2038 | 185764 | 0.0 |
| 641097 | Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036 | 645063 | 0.0 |
| 3684033 <sup>(3)</sup> | Fannie Mae REMIC Trust 2009-50 HZ, 5.539%, 02/25/2049 | 3749273 | 0.1 |
| 3014148 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2009-66 SP, 1.629%, (-1.000\*SOFR30A + 5.986%), 09/25/2039 | 191155 | 0.0 |
| 745626 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2009-90 TS, 1.679%, (-1.000\*SOFR30A + 6.036%), 11/25/2039 | 64117 | 0.0 |
| 2148271 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-1 S, 1.779%, (-1.000\*SOFR30A + 6.136%), 02/25/2040 | 202057 | 0.0 |
| 6058725 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-107 SB, 2.119%, (-1.000\*SOFR30A + 6.476%), 09/25/2040 | 633253 | 0.0 |
| 1616595 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-123 SL, 1.599%, (-1.000\*SOFR30A + 5.956%), 11/25/2040 | 112282 | 0.0 |
| 3301725 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-150 SJ, 2.009%, (-1.000\*SOFR30A + 6.366%), 01/25/2041 | 321788 | 0.0 |
| 740821 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-35 CS, 1.979%, (-1.000\*SOFR30A + 6.336%), 04/25/2050 | 80431 | 0.0 |
| 3624239 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-41 SB, 1.929%, (-1.000\*SOFR30A + 6.286%), 05/25/2040 | 282780 | 0.0 |
| 580989 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2010-43 VS, 1.979%, (-1.000\*SOFR30A + 6.336%), 05/25/2040 | 48045 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1496929 | Fannie Mae REMIC Trust 2010-53 JZ, 5.000%, 07/25/2040 | $1487156 | 0.0 |
| 3421311 | Fannie Mae REMIC Trust 2010-59 PC, 5.000%, 06/25/2040 | 3516063 | 0.1 |
| 661380 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 675300 | 0.0 |
| 3622370 | Fannie Mae REMIC Trust 2011-101 DB, 4.000%, 10/25/2041 | 3552229 | 0.1 |
| 427384 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2011-102 SA, 2.129%, (-1.000\*SOFR30A + 6.486%), 10/25/2041 | 50544 | 0.0 |
| 2213860 | Fannie Mae REMIC Trust 2011-116 ZA, 3.500%, 11/25/2041 | 2117956 | 0.0 |
| 46805 | Fannie Mae REMIC Trust 2011-127 UY, 3.500%, 12/25/2041 | 44520 | 0.0 |
| 5622117 | Fannie Mae REMIC Trust 2011-136 PZ, 4.000%, 01/25/2042 | 5441720 | 0.1 |
| 1693938 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 1729596 | 0.0 |
| 3822530 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2011-47 GS, 1.459%, (-1.000\*SOFR30A + 5.816%), 06/25/2041 | 255237 | 0.0 |
| 1792833 | Fannie Mae REMIC Trust 2011-8 ZA, 4.000%, 02/25/2041 | 1749164 | 0.0 |
| 6975641 | Fannie Mae REMIC Trust 2011-84 Z, 5.250%, 09/25/2041 | 7135086 | 0.1 |
| 6530310 | Fannie Mae REMIC Trust 2011-87 GB, 4.500%, 09/25/2041 | 6440388 | 0.1 |
| 1083500 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2011-93 GS, 2.079%, (-1.000\*SOFR30A + 6.436%), 04/25/2039 | 109929 | 0.0 |
| 5607534 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 5589560 | 0.1 |
| 306872 | Fannie Mae REMIC Trust 2012-110 CA, 3.000%, 10/25/2042 | 283738 | 0.0 |
| 1234520 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-111 SL, 1.629%, (-1.000\*SOFR30A + 5.986%), 05/25/2041 | 107809 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2412095 | Fannie Mae REMIC Trust 2012-111 ZK, 3.500%, 10/25/2042 | $2277529 | 0.0 |
| 797996 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-120 WI, 3.000%, 11/25/2027 | 15883 | 0.0 |
| 2372858 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-122 SB, 1.679%, (-1.000\*SOFR30A + 6.036%), 11/25/2042 | 275076 | 0.0 |
| 730675 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-128 LI, 3.500%, 06/25/2042 | 29183 | 0.0 |
| 2829259 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-133 AS, 1.729%, (-1.000\*SOFR30A + 6.086%), 10/25/2042 | 301349 | 0.0 |
| 9812244 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-133 NS, 1.679%, (-1.000\*SOFR30A + 6.036%), 12/25/2042 | 1078254 | 0.0 |
| 354988 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-149 GI, 3.500%, 06/25/2042 | 27004 | 0.0 |
| 10338962 | Fannie Mae REMIC Trust 2012-15 PZ, 4.000%, 03/25/2042 | 10048160 | 0.1 |
| 1303275 | Fannie Mae REMIC Trust 2012-153 B, 7.000%, 07/25/2042 | 1427069 | 0.0 |
| 3115117 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 3039658 | 0.0 |
| 2651957 | Fannie Mae REMIC Trust 2012-2 HE, 4.000%, 02/25/2042 | 2606572 | 0.0 |
| 168450 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-24 HS, 2.079%, (-1.000\*SOFR30A + 6.436%), 09/25/2040 | 2240 | 0.0 |
| 611843 | Fannie Mae REMIC Trust 2012-30 AB, 4.000%, 04/25/2042 | 596655 | 0.0 |
| 995421 | Fannie Mae REMIC Trust 2012-33 BW, 4.000%, 04/25/2042 | 963998 | 0.0 |
| 3492 | Fannie Mae REMIC Trust 2012-44 KW, 3.500%, 05/25/2032 | 3316 | 0.0 |
| 1374390 | Fannie Mae REMIC Trust 2012-55 PC, 3.500%, 05/25/2042 | 1305123 | 0.0 |
| 5428964 | Fannie Mae REMIC Trust 2012-63 MW, 4.000%, 05/25/2034 | 5406779 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 5919751 | Fannie Mae REMIC Trust 2012-66 EP, 4.000%, 06/25/2042 | $5723077 | 0.1 |
| 326616 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2012-68 YS, 2.229%, (-1.000\*SOFR30A + 6.586%), 07/25/2042 | 35657 | 0.0 |
| 500000 | Fannie Mae REMIC Trust 2012-80 MY, 3.250%, 08/25/2042 | 449282 | 0.0 |
| 10629821 | Fannie Mae REMIC Trust 2012-94 LZ, 3.500%, 09/25/2042 | 10083117 | 0.1 |
| 1610900 | Fannie Mae REMIC Trust 2013-111 BA, 3.000%, 11/25/2033 | 1557374 | 0.0 |
| 1049208 | Fannie Mae REMIC Trust 2013-116 UB, 4.000%, 11/25/2043 | 1013481 | 0.0 |
| 1403000 | Fannie Mae REMIC Trust 2013-13 BE, 4.000%, 03/25/2043 | 1345315 | 0.0 |
| 920960 | Fannie Mae REMIC Trust 2013-20 DL, 4.000%, 03/25/2033 | 904707 | 0.0 |
| 544738 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2013-26 JS, 1.729%, (-1.000\*SOFR30A + 6.086%), 10/25/2032 | 21884 | 0.0 |
| 2857614 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2013-40 LS, 1.679%, (-1.000\*SOFR30A + 6.036%), 05/25/2043 | 310482 | 0.0 |
| 10455311 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-44 DI, 3.000%, 05/25/2033 | 794776 | 0.0 |
| 2675468 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2013-60 DS, 1.729%, (-1.000\*SOFR30A + 6.086%), 06/25/2033 | 187952 | 0.0 |
| 3128557 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-70 BI, 3.000%, 07/25/2033 | 236280 | 0.0 |
| 4292843 | Fannie Mae REMIC Trust 2013-70 JZ, 3.000%, 07/25/2043 | 3908102 | 0.1 |
| 601278 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2013-72 YS, 1.679%, (-1.000\*SOFR30A + 6.036%), 07/25/2033 | 39059 | 0.0 |
| 2402178 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2013-9 SM, 1.779%, (-1.000\*SOFR30A + 6.136%), 02/25/2033 | 142689 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 4203299 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2014-15 SB, 2.179%, (-1.000\*SOFR30A + 6.536%), 04/25/2044 $| $465865 | 0.0 |
| 311129 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2014-17 DS, 1.729%, (-1.000\*SOFR30A + 6.086%), 02/25/2043 | 5519 | 0.0 |
| 592101 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2014-28 BS, 1.729%, (-1.000\*SOFR30A + 6.086%), 08/25/2043 | 34101 | 0.0 |
| 970000 | Fannie Mae REMIC Trust 2014-61 PY, 3.500%, 10/25/2044 | 880988 | 0.0 |
| 4073801 <sup>(6)</sup> | Fannie Mae REMIC Trust 2014-70 IO, 5.500%, 10/25/2044 | 619284 | 0.0 |
| 18578479 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2014-79 KS, 1.679%, (-1.000\*SOFR30A + 6.036%), 12/25/2044 | 2157451 | 0.0 |
| 17185118 | Fannie Mae REMIC Trust 2015-20 EZ, 3.500%, 04/25/2045 | 16192348 | 0.2 |
| 2823462 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-56 IC, 6.000%, 08/25/2045 | 432555 | 0.0 |
| 2000000 | Fannie Mae REMIC Trust 2015-67 AV, 3.500%, 01/25/2036 | 1899162 | 0.0 |
| 782831 | Fannie Mae REMIC Trust 2015-67 QV, 3.000%, 12/25/2040 | 776199 | 0.0 |
| 1138873 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-76 PI, 6.000%, 09/25/2045 | 161175 | 0.0 |
| 19346109 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2015-79 SA, 1.779%, (-1.000\*SOFR30A + 6.136%), 11/25/2045 | 1852971 | 0.0 |
| 9385097 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2015-86 BS, 1.229%, (-1.000\*SOFR30A + 5.586%), 11/25/2045 | 570861 | 0.0 |
| 17587922 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-88 IO, 6.500%, 12/25/2045 | 3814142 | 0.1 |
| 7559947 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-9 IO, 5.500%, 03/25/2045 | 1399163 | 0.0 |
| 3490206 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-97 BI, 5.500%, 01/25/2046 | 538558 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2121242 <sup>(6)</sup> | Fannie Mae REMIC Trust 2016-104 BI, 6.000%, 01/25/2047 | $350418 | 0.0 |
| 3745151 <sup>(6)</sup> | Fannie Mae REMIC Trust 2016-52 MI, 4.000%, 12/25/2045 | 539738 | 0.0 |
| 11116627 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2016-60 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 09/25/2046 | 962623 | 0.0 |
| 13060407 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2016-81 CS, 1.629%, (-1.000\*SOFR30A + 5.986%), 11/25/2046 | 887092 | 0.0 |
| 9521452 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2016-82 SD, 1.579%, (-1.000\*SOFR30A + 5.936%), 11/25/2046 | 797114 | 0.0 |
| 280366 | Fannie Mae REMIC Trust 2016-9 D, 3.000%, 03/25/2046 | 258078 | 0.0 |
| 12522371 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2017-10 SA, 1.629%, (-1.000\*SOFR30A + 5.986%), 03/25/2047 | 1053300 | 0.0 |
| 5333748 | Fannie Mae REMIC Trust 2017-108 ZD, 3.000%, 01/25/2048 | 4375458 | 0.1 |
| 3675762 | Fannie Mae REMIC Trust 2017-54 D, 3.000%, 07/25/2047 | 3334252 | 0.1 |
| 18878673 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2018-15 SC, 1.829%, (-1.000\*SOFR30A + 6.186%), 03/25/2048 | 1843496 | 0.0 |
| 2811604 | Fannie Mae REMIC Trust 2018-26 KA, 3.500%, 04/25/2048 | 2571676 | 0.0 |
| 887125 | Fannie Mae REMIC Trust 2018-38 LA, 3.000%, 06/25/2048 | 800402 | 0.0 |
| 8545028 | Fannie Mae REMIC Trust 2018-73 AB, 3.000%, 10/25/2048 | 7898854 | 0.1 |
| 888152 | Fannie Mae REMIC Trust 2018-8 AB, 3.500%, 10/25/2047 | 852026 | 0.0 |
| 22495339 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2018-82 SA, 1.729%, (-1.000\*SOFR30A + 6.086%), 11/25/2048 | 2078597 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 4885046 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2018-86 AS, 1.729%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | $366195 | 0.0 |
| 22761023 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2018-86 SM, 1.729%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | 1984562 | 0.0 |
| 23699368 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2018-91 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 12/25/2058 | 3198012 | 0.0 |
| 8306643 <sup>(6)</sup> | Fannie Mae REMIC Trust 2019-21 AI, 5.000%, 05/25/2059 | 2492554 | 0.0 |
| 6684472 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-30 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 07/25/2049 | 716411 | 0.0 |
| 10794809 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-34 BS, 1.579%, (-1.000\*SOFR30A + 5.936%), 07/25/2049 | 1282597 | 0.0 |
| 5249698 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-39 SA, 1.629%, (-1.000\*SOFR30A + 5.986%), 08/25/2049 | 513578 | 0.0 |
| 37698659 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-41 S, 1.529%, (-1.000\*SOFR30A + 5.886%), 08/25/2059 | 4147043 | 0.1 |
| 3852134 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-47 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 05/25/2040 | 361519 | 0.0 |
| 10770095 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2019-79 SB, 1.529%, (-1.000\*SOFR30A + 5.886%), 01/25/2050 | 1191267 | 0.0 |
| 5702667 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2020-10 SE, 1.529%, (-1.000\*SOFR30A + 5.886%), 03/25/2050 | 630765 | 0.0 |
| 40427986 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-34 IO, 4.500%, 06/25/2050 | 9063219 | 0.1 |
| 14345951 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-35 IO, 5.000%, 06/25/2050 | 1987786 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 18695945 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-44 DI, 2.500%, 07/25/2050 | $2406125 | 0.0 |
| 8184543 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-44 EI, 3.500%, 09/25/2042 | 1311686 | 0.0 |
| 6976350 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-50 IO, 4.500%, 03/25/2050 | 1917152 | 0.0 |
| 7637997 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-53 CI, 4.500%, 08/25/2050 | 1805549 | 0.0 |
| 27061561 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-57 IB, 4.500%, 08/25/2050 | 5798811 | 0.1 |
| 19820521 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-74 GI, 5.000%, 10/25/2050 | 3743780 | 0.1 |
| 51887786 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-87 AI, 2.000%, 12/25/2050 | 7012894 | 0.1 |
| 26703026 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-99 IB, 3.500%, 05/25/2050 | 5036035 | 0.1 |
| 40729759 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-1 BI, 3.000%, 02/25/2049 | 6792555 | 0.1 |
| 119189085 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-10 AI, 3.000%, 03/25/2041 | 12236428 | 0.1 |
| 22761354 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-22 BI, 4.000%, 04/25/2051 | 4741596 | 0.1 |
| 11257632 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-4 IV, 4.500%, 06/25/2050 | 2549124 | 0.0 |
| 28323184 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-41 MI, 5.000%, 06/25/2048 | 5006055 | 0.1 |
| 31300825 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2021-55 SA, 0.153%, (-1.000\*SOFR30A + 3.150%), 08/25/2061 | 585244 | 0.0 |
| 68908392 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-77 AI, 3.500%, 11/25/2051 | 15322690 | 0.2 |
| 106104449 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-78 AI, 3.000%, 11/25/2051 | 18215529 | 0.2 |
| 21338827 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-8 TI, 4.000%, 03/25/2051 | 4517859 | 0.1 |
| 15253965 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-81 LI, 2.500%, 11/25/2051 | 2224882 | 0.0 |
| 53543022 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-93 AI, 3.000%, 01/25/2052 | 8986706 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 70268654 <sup>(6)</sup> | Fannie Mae REMIC Trust 2022-52 IO, 4.000%, 05/25/2050 | $13307590 | 0.2 |
| 3126001 | Fannie Mae REMIC Trust 2022-55 PA, 4.000%, 10/25/2051 | 3095623 | 0.0 |
| 5463129 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-11 GI, 6.500%, 04/25/2053 | 1138136 | 0.0 |
| 23918064 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-2 HI, 6.500%, 02/25/2053 | 5076468 | 0.1 |
| 29272550 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-23 AI, 4.000%, 12/25/2051 | 6088663 | 0.1 |
| 14701326 <sup>(3)(6)</sup> | Fannie Mae REMIC Trust 2024-32 SG, 1.587%, (-1.000\*SOFR30A + 5.936%), 04/25/2042 | 1176771 | 0.0 |
| 69615272 <sup>(6)</sup> | Fannie Mae REMIC Trust 2024-7 IO, 3.000%, 07/25/2038 | 6233595 | 0.1 |
| 504544 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A11, 6.000%, 02/25/2037 | 181636 | 0.0 |
| 1061968 <sup>(1)(3)</sup> | First Republic Mortgage Trust 2020-1 B2, 2.881%, 04/25/2050 | 988558 | 0.0 |
| 1504504 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-1 B1, 3.929%, 03/25/2048 | 1404848 | 0.0 |
| 1961873 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-1 B3, 3.929%, 03/25/2048 | 1820679 | 0.0 |
| 1057651 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-2 B2, 3.999%, 04/25/2048 | 980540 | 0.0 |
| 559611 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | 523265 | 0.0 |
| 814673 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.133%, 07/25/2048 | 753336 | 0.0 |
| 2496947 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2018-6RR B3, 4.907%, 10/25/2048 | 2449116 | 0.0 |
| 1266482 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2019-2 B2, 4.000%, 12/25/2049 | 1167268 | 0.0 |
| 1805587 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2020-1INV B1A, 4.173%, 03/25/2050 | 1673249 | 0.0 |
| 2185526 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.173%, 03/25/2050 | 2018940 | 0.0 |
| 1371166 <sup>(1)(3)</sup> | Flagstar Mortgage Trust 2021-6INV B1, 3.478%, 08/25/2051 | 1193126 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1679909 | Freddie Mac Reference REMIC R007 ZA, 6.000%, 05/15/2036 | $1763698 | 0.0 |
| 119805 | Freddie Mac Reference REMIC R008 ZA, 6.000%, 07/15/2036 | 127126 | 0.0 |
| 17583 | Freddie Mac REMIC Trust 2110 PG, 6.000%, 01/15/2029 | 17740 | 0.0 |
| 16660 | Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029 | 16919 | 0.0 |
| 138584 | Freddie Mac REMIC Trust 2143 ZB, 6.000%, 04/15/2029 | 141982 | 0.0 |
| 80286 | Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032 | 82814 | 0.0 |
| 27158 <sup>(6)</sup> | Freddie Mac REMIC Trust 2594 IY, 6.000%, 04/15/2033 | 3882 | 0.0 |
| 216601 | Freddie Mac REMIC Trust 2845 QH, 5.000%, 08/15/2034 | 221555 | 0.0 |
| 40624 | Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034 | 41724 | 0.0 |
| 77040 | Freddie Mac REMIC Trust 2930 ZL, 5.000%, 02/15/2035 | 78977 | 0.0 |
| 447266 | Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035 | 455554 | 0.0 |
| 399439 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3006 SI, 2.253%, (-1.000\*SOFR30A + 6.626%), 07/15/2035 | 36193 | 0.0 |
| 336589 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3006 YI, 2.253%, (-1.000\*SOFR30A + 6.626%), 07/15/2035 | 29779 | 0.0 |
| 2168729 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3045 DI, 2.243%, (-1.000\*SOFR30A + 6.616%), 10/15/2035 | 177431 | 0.0 |
| 425905 | Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036 | 441032 | 0.0 |
| 285087 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3171 PS, 1.998%, (-1.000\*SOFR30A + 6.371%), 06/15/2036 | 20518 | 0.0 |
| 2521882 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3199 S, 1.963%, (-1.000\*SOFR30A + 6.336%), 08/15/2036 | 228593 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2205514 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3213 JS, 2.713%, (-1.000\*SOFR30A + 7.086%), 09/15/2036 | $252323 | 0.0 |
| 7242048 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3346 SC, 2.063%, (-1.000\*SOFR30A + 6.436%), 10/15/2033 | 558967 | 0.0 |
| 212163 | Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037 | 219926 | 0.0 |
| 586624 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3375 QI, 0.600%, (-1.000\*SOFR30A + 63.455%), 10/15/2037 | 11126 | 0.0 |
| 27598 | Freddie Mac REMIC Trust 3394 ZY, 6.000%, 11/15/2037 | 28792 | 0.0 |
| 3632912 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3510 AS, 1.923%, (-1.000\*SOFR30A + 6.296%), 04/15/2037 | 334171 | 0.0 |
| 81483 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3524 LA, 5.654%, 03/15/2033 | 82778 | 0.0 |
| 5324 <sup>(3)</sup> | Freddie Mac REMIC Trust 3556 NT, 7.587%, (SOFR30A + 3.214%), 03/15/2038 | 5539 | 0.0 |
| 3713242 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3629 CS, 1.863%, (-1.000\*SOFR30A + 6.236%), 01/15/2040 | 371233 | 0.0 |
| 2238278 | Freddie Mac REMIC Trust 3639 ZN, 5.500%, 12/15/2034 | 2316007 | 0.0 |
| 423590 | Freddie Mac REMIC Trust 3662 ZB, 5.500%, 08/15/2036 | 439128 | 0.0 |
| 158135 | Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037 | 166017 | 0.0 |
| 1573244 | Freddie Mac REMIC Trust 3736 ZP, 4.000%, 10/15/2040 | 1530182 | 0.0 |
| 1197627 | Freddie Mac REMIC Trust 3740 KE, 4.000%, 10/15/2040 | 1155238 | 0.0 |
| 14010428 | Freddie Mac REMIC Trust 3753 KZ, 4.500%, 11/15/2040 | 13983277 | 0.2 |
| 3780692 | Freddie Mac REMIC Trust 3775 GZ, 4.500%, 12/15/2040 | 3765976 | 0.1 |
| 1599095 | Freddie Mac REMIC Trust 3820 NC, 4.500%, 03/15/2041 | 1595624 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 917134 | Freddie Mac REMIC Trust 3843 JZ, 5.100%, 04/15/2041 | $925760 | 0.0 |
| 296692 | Freddie Mac REMIC Trust 3848 WX, 5.000%, 04/15/2041 | 303355 | 0.0 |
| 435410 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3856 KS, 2.063%, (-1.000\*SOFR30A + 6.436%), 05/15/2041 | 45555 | 0.0 |
| 1368919 | Freddie Mac REMIC Trust 3893 PU, 4.000%, 07/15/2041 | 1342899 | 0.0 |
| 2829212 | Freddie Mac REMIC Trust 3919 BY, 4.000%, 09/15/2041 | 2769186 | 0.0 |
| 5712258 | Freddie Mac REMIC Trust 3919 ZB, 4.000%, 09/15/2041 | 5577882 | 0.1 |
| 2304345 | Freddie Mac REMIC Trust 3923 GY, 4.000%, 09/15/2041 | 2267641 | 0.0 |
| 86738 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3925 SD, 1.563%, (-1.000\*SOFR30A + 5.936%), 07/15/2040 | 1527 | 0.0 |
| 271316 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 3925 SL, 1.563%, (-1.000\*SOFR30A + 5.936%), 01/15/2041 | 3044 | 0.0 |
| 1131038 | Freddie Mac REMIC Trust 3934 CB, 4.000%, 10/15/2041 | 1100662 | 0.0 |
| 457739 | Freddie Mac REMIC Trust 3934 KB, 5.000%, 10/15/2041 | 471167 | 0.0 |
| 3761221 | Freddie Mac REMIC Trust 3982 LZ, 4.000%, 01/15/2042 | 3641906 | 0.1 |
| 588291 | Freddie Mac REMIC Trust 3997 PB, 4.000%, 02/15/2042 | 575065 | 0.0 |
| 90085 | Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042 | 90778 | 0.0 |
| 1719933 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4057 SN, 2.163%, (-1.000\*SOFR30A + 6.536%), 12/15/2041 | 135690 | 0.0 |
| 1971367 | Freddie Mac REMIC Trust 4057 ZB, 3.500%, 06/15/2042 | 1870349 | 0.0 |
| 9008614 | Freddie Mac REMIC Trust 4084 TZ, 4.000%, 07/15/2042 | 8722454 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 562835 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4088 CS, 1.513%, (-1.000\*SOFR30A + 5.886%), 08/15/2042 | $59022 | 0.0 |
| 896694 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4090 SN, 2.213%, (-1.000\*SOFR30A + 6.586%), 08/15/2032 | 64447 | 0.0 |
| 364864 | Freddie Mac REMIC Trust 4100 JA, 3.500%, 10/15/2041 | 354078 | 0.0 |
| 2541137 <sup>(6)</sup> | Freddie Mac REMIC Trust 4161 WI, 3.000%, 02/15/2033 | 179457 | 0.0 |
| 2763423 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4191 SA, 1.713%, (-1.000\*SOFR30A + 6.086%), 03/15/2043 | 237570 | 0.0 |
| 2128000 | Freddie Mac REMIC Trust 4193 BP, 4.000%, 04/15/2043 | 1991622 | 0.0 |
| 1481564 <sup>(6)</sup> | Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043 | 227457 | 0.0 |
| 2014902 | Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033 | 1965968 | 0.0 |
| 1692106 | Freddie Mac REMIC Trust 4235 QD, 3.000%, 08/15/2033 | 1632735 | 0.0 |
| 745526 | Freddie Mac REMIC Trust 4246 ZX, 4.500%, 04/15/2041 | 743413 | 0.0 |
| 572842 <sup>(6)</sup> | Freddie Mac REMIC Trust 4293 KI, 4.500%, 08/15/2043 | 63775 | 0.0 |
| 14960055 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4301 SD, 1.613%, (-1.000\*SOFR30A + 5.986%), 07/15/2037 | 1102854 | 0.0 |
| 6160290 | Freddie Mac REMIC Trust 4310 BZ, 4.000%, 02/15/2044 | 5978486 | 0.1 |
| 3879817 | Freddie Mac REMIC Trust 4316 XZ, 4.500%, 03/15/2044 | 3862091 | 0.1 |
| 3826884 | Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044 | 3768855 | 0.1 |
| 8984117 | Freddie Mac REMIC Trust 4348 ZX, 4.250%, 06/15/2044 | 8879095 | 0.1 |
| 2034517 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4386 LS, 1.613%, (-1.000\*SOFR30A + 5.986%), 09/15/2044 | 205455 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2052723 | Freddie Mac REMIC Trust 4401 BL, 3.500%, 10/15/2034 | $2008725 | 0.0 |
| 6416155 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4407 CS, 1.713%, (-1.000\*SOFR30A + 6.086%), 06/15/2044 | 521611 | 0.0 |
| 9063888 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4407 PS, 1.113%, (-1.000\*SOFR30A + 5.486%), 06/15/2044 | 554841 | 0.0 |
| 6865725 | Freddie Mac REMIC Trust 4444 CZ, 3.000%, 02/15/2045 | 6199380 | 0.1 |
| 9095863 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4461 AS, 1.113%, (-1.000\*SOFR30A + 5.486%), 04/15/2045 | 624962 | 0.0 |
| 3124000 | Freddie Mac REMIC Trust 4492 VB, 3.500%, 05/15/2035 | 3022572 | 0.0 |
| 2913000 | Freddie Mac REMIC Trust 4505 PB, 3.000%, 08/15/2045 | 2648910 | 0.0 |
| 8068266 | Freddie Mac REMIC Trust 4545 PL, 3.500%, 01/15/2046 | 7298545 | 0.1 |
| 9406840 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4574 ST, 1.513%, (-1.000\*SOFR30A + 5.886%), 04/15/2046 | 1085847 | 0.0 |
| 44233447 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4585 AS, 1.613%, (-1.000\*SOFR30A + 5.986%), 05/15/2046 | 3961010 | 0.1 |
| 4203783 | Freddie Mac REMIC Trust 4608 JV, 3.500%, 01/15/2055 | 3203451 | 0.0 |
| 12667751 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4611 BS, 1.613%, (-1.000\*SOFR30A + 5.986%), 06/15/2041 | 1167867 | 0.0 |
| 8743407 | Freddie Mac REMIC Trust 4664 KZ, 3.500%, 02/15/2047 | 8176458 | 0.1 |
| 6241440 | Freddie Mac REMIC Trust 4680 GZ, 3.500%, 03/15/2047 | 5776035 | 0.1 |
| 4933476 | Freddie Mac REMIC Trust 4682 HZ, 3.500%, 04/15/2047 | 4611687 | 0.1 |
| 2311273 | Freddie Mac REMIC Trust 4700 KZ, 3.500%, 07/15/2047 | 2131690 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 4403836 | Freddie Mac REMIC Trust 4753 VZ, 3.000%, 12/15/2047 | $3559923 | 0.1 |
| 3548570 | Freddie Mac REMIC Trust 4755 Z, 3.000%, 02/15/2048 | 3158065 | 0.0 |
| 39104116 | Freddie Mac REMIC Trust 4771 HZ, 3.500%, 03/15/2048 | 36091949 | 0.4 |
| 12212547 | Freddie Mac REMIC Trust 4776 AZ, 4.000%, 07/15/2047 | 11690929 | 0.1 |
| 326522 | Freddie Mac REMIC Trust 4787 PY, 4.000%, 05/15/2048 | 310592 | 0.0 |
| 6308548 | Freddie Mac REMIC Trust 4795 D, 5.000%, 05/15/2048 | 6222037 | 0.1 |
| 1630094 | Freddie Mac REMIC Trust 4834 AZ, 3.500%, 10/15/2048 | 1516137 | 0.0 |
| 20693555 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4879 DS, 1.613%, (-1.000\*SOFR30A + 5.986%), 08/15/2034 | 1307116 | 0.0 |
| 21556836 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4892 SA, 1.563%, (-1.000\*SOFR30A + 5.936%), 07/15/2049 | 2369671 | 0.0 |
| 1632872 | Freddie Mac REMIC Trust 4904 HB, 3.000%, 08/25/2049 | 1225657 | 0.0 |
| 5928597 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 4906 SQ, 1.579%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | 690760 | 0.0 |
| 606535 | Freddie Mac REMIC Trust 4914 DB, 3.000%, 09/25/2049 | 423501 | 0.0 |
| 2213868 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | 1974452 | 0.0 |
| 48301475 <sup>(6)</sup> | Freddie Mac REMIC Trust 4941 IO, 4.000%, 12/15/2047 | 9870331 | 0.1 |
| 2417716 | Freddie Mac REMIC Trust 4941 WZ, 3.000%, 11/25/2049 | 2155953 | 0.0 |
| 3924249 | Freddie Mac REMIC Trust 4950 KE, 2.500%, 12/25/2049 | 3520271 | 0.1 |
| 46422577 <sup>(6)</sup> | Freddie Mac REMIC Trust 4980 KI, 4.500%, 06/25/2050 | 10501404 | 0.1 |
| 14050912 <sup>(6)</sup> | Freddie Mac REMIC Trust 4986 IO, 4.500%, 06/25/2050 | 3140871 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 47375972<sup>(6)</sup> | Freddie Mac REMIC Trust 4998 AI, 3.500%, 12/25/2049 | $10932911 | 0.1 |
| 40175919<sup>(6)</sup> | Freddie Mac REMIC Trust 5014 HI, 4.000%, 09/25/2050 | 8127488 | 0.1 |
| 25645705<sup>(6)</sup> | Freddie Mac REMIC Trust 5019 HI, 3.500%, 10/25/2050 | 4836175 | 0.1 |
| 20496773<sup>(3)(6)</sup> | Freddie Mac REMIC Trust 5045 BS, 1.844%, (-1.000\*SOFR30A + 6.200%), 11/25/2050 | 3269248 | 0.0 |
| 84601476<sup>(6)</sup> | Freddie Mac REMIC Trust 5051 BI, 3.000%, 11/25/2050 | 14615252 | 0.2 |
| 42255394<sup>(6)</sup> | Freddie Mac REMIC Trust 5057 IT, 3.000%, 11/25/2050 | 7347045 | 0.1 |
| 24790373<sup>(6)</sup> | Freddie Mac REMIC Trust 5072 NI, 3.000%, 01/25/2050 | 4280636 | 0.1 |
| 50126585<sup>(6)</sup> | Freddie Mac REMIC Trust 5072 QI, 3.500%, 10/25/2050 | 11632250 | 0.1 |
| 69721517<sup>(6)</sup> | Freddie Mac REMIC Trust 5082 IQ, 3.000%, 03/25/2051 | 12052644 | 0.1 |
| 16655497<sup>(6)</sup> | Freddie Mac REMIC Trust 5103 HI, 4.000%, 05/25/2051 | 3397048 | 0.1 |
| 17504158<sup>(6)</sup> | Freddie Mac REMIC Trust 5113 AI, 4.000%, 06/25/2041 | 2757556 | 0.0 |
| 16397628<sup>(6)</sup> | Freddie Mac REMIC Trust 5114 CI, 4.000%, 01/25/2050 | 3226705 | 0.0 |
| 55512676<sup>(6)</sup> | Freddie Mac REMIC Trust 5117 IO, 3.000%, 06/25/2051 | 7971598 | 0.1 |
| 22678627<sup>(6)</sup> | Freddie Mac REMIC Trust 5122 AI, 4.500%, 07/25/2051 | 5015920 | 0.1 |
| 41685976<sup>(6)</sup> | Freddie Mac REMIC Trust 5125 MI, 4.500%, 11/25/2048 | 9807866 | 0.1 |
| 20185781<sup>(6)</sup> | Freddie Mac REMIC Trust 5128 IC, 5.500%, 09/25/2041 | 3758243 | 0.1 |
| 47538851<sup>(6)</sup> | Freddie Mac REMIC Trust 5152 IQ, 4.500%, 10/25/2051 | 10832193 | 0.1 |
| 57243947<sup>(6)</sup> | Freddie Mac REMIC Trust 5200 IC, 4.000%, 03/25/2051 | 11412694 | 0.1 |
| 1196453 | Freddie Mac REMIC Trust 5228 EC, 4.000%, 02/25/2050 | 1159459 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 33191345 <sup>(3)(6)</sup> | Freddie Mac REMIC Trust 5264 S, 1.544%, (-1.000\*SOFR30A + 5.900%), 10/25/2052 | $2756156 | 0.0 |
| 45555628 <sup>(6)</sup> | Freddie Mac REMIC Trust 5279 IM, 4.000%, 11/25/2051 | 9001022 | 0.1 |
| 35292316 <sup>(6)</sup> | Freddie Mac REMIC Trust 5322 IO, 4.000%, 09/25/2051 | 7406114 | 0.1 |
| 3372547 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2021-DNA6 M2, 5.856%, (SOFR30A + 1.500%), 10/25/2041 | 3382722 | 0.1 |
| 1000000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2021-DNA7 M2, 6.156%, (SOFR30A + 1.800%), 11/25/2041 | 1008840 | 0.0 |
| 6500000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA3 M2, 6.456%, (SOFR30A + 2.100%), 09/25/2041 | 6538145 | 0.1 |
| 15000000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 8.106%, (SOFR30A + 3.750%), 12/25/2041 | 15399303 | 0.2 |
| 10000000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 M2, 6.706%, (SOFR30A + 2.350%), 12/25/2041 | 10106898 | 0.1 |
| 13500000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 7.756%, (SOFR30A + 3.400%), 01/25/2042 | 13822059 | 0.2 |
| 7000000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 M2, 6.856%, (SOFR30A + 2.500%), 01/25/2042 | 7118778 | 0.1 |
| 1400000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 9.106%, (SOFR30A + 4.750%), 02/25/2042 | 1459402 | 0.0 |
| 10400000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 M2, 8.106%, (SOFR30A + 3.750%), 02/25/2042 | 10754900 | 0.1 |
| 2534500 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA6 M2, 10.106%, (SOFR30A + 5.750%), 09/25/2042 | 2755327 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1150000<sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2022-HQA3 M2, 9.706%, (SOFR30A + 5.350%), 08/25/2042 | $1235377 | 0.0 |
| 1800000<sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2023-HQA3 M2, 7.706%, (SOFR30A + 3.350%), 11/25/2043 | 1900353 | 0.0 |
| 11000000 <sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 6.156%, (SOFR30A + 1.800%), 08/25/2044 | 11067973 | 0.1 |
| 3350000<sup>(1)(3)</sup> | Freddie Mac STACR REMIC Trust 2025-HQA1 M2, 6.006%, (SOFR30A + 1.650%), 02/25/2045 | 3356848 | 0.1 |
| 1985498 | Freddie Mac Strips 277 30, 3.000%, 09/15/2042 | 1808783 | 0.0 |
| 4377589<sup>(6)</sup> | Freddie Mac Strips 303 C17, 3.500%, 01/15/2043 | 758211 | 0.0 |
| 21203760 <sup>(3)(6)</sup> | Freddie Mac Strips 311 S1, 1.463%, (-1.000\*SOFR30A + 5.836%), 08/15/2043 | 2328490 | 0.0 |
| 7632657 | Freddie Mac Strips 326 350, 3.500%, 03/15/2044 | 7140935 | 0.1 |
| 658411 <sup>(3)(6)</sup> | Freddie Mac Strips 344 68, 3.000%, 02/15/2045 | 84618 | 0.0 |
| 193934 <sup>(3)(6)</sup> | Freddie Mac Strips 344 89, 4.500%, 02/15/2045 | 35506 | 0.0 |
| 2654965<sup>(6)</sup> | Freddie Mac Strips 344 C13, 4.500%, 02/15/2045 | 550775 | 0.0 |
| 3958531<sup>(6)</sup> | Freddie Mac Strips 344 C17, 4.000%, 02/15/2045 | 744458 | 0.0 |
| 1962207<sup>(3)(6)</sup> | Freddie Mac Strips 344 C18, 4.000%, 02/15/2045 | 322674 | 0.0 |
| 2384232<sup>(3)(6)</sup> | Freddie Mac Strips 344 C19, 3.500%, 02/15/2045 | 309291 | 0.0 |
| 3797595<sup>(6)</sup> | Freddie Mac Strips 344 C2, 4.000%, 02/15/2045 | 713583 | 0.0 |
| 3281776<sup>(6)</sup> | Freddie Mac Strips 344 C4, 4.000%, 02/15/2045 | 637549 | 0.0 |
| 5606504<sup>(6)</sup> | Freddie Mac Strips 344 C5, 3.500%, 02/15/2045 | 1014090 | 0.0 |
| 5843612<sup>(6)</sup> | Freddie Mac Strips 344 C6, 4.000%, 02/15/2045 | 1192117 | 0.0 |
| 3254601<sup>(6)</sup> | Freddie Mac Strips 344 C7, 4.000%, 02/15/2045 | 642658 | 0.0 |
| 2318370<sup>(6)</sup> | Freddie Mac Strips 344 C8, 3.500%, 02/15/2045 | 388352 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2870841 <sup>(6)</sup> | Freddie Mac Strips 344 C9, 3.500%, 02/15/2045 | $475074 | 0.0 |
| 6706512 <sup>(6)</sup> | Freddie Mac Strips 347 C14, 3.500%, 02/15/2044 | 1161929 | 0.0 |
| 3887644 <sup>(6)</sup> | Freddie Mac Strips 347 C22, 4.000%, 02/15/2044 | 703751 | 0.0 |
| 4217292 <sup>(6)</sup> | Freddie Mac Strips 347 C23, 4.000%, 02/15/2044 | 795020 | 0.0 |
| 4039990 <sup>(6)</sup> | Freddie Mac Strips 347 C24, 4.000%, 02/15/2044 | 751106 | 0.0 |
| 3641554 <sup>(6)</sup> | Freddie Mac Strips 347 C25, 4.000%, 02/15/2044 | 722752 | 0.0 |
| 5134687 <sup>(6)</sup> | Freddie Mac Strips 347 C26, 4.000%, 02/15/2044 | 996253 | 0.0 |
| 4489913 <sup>(6)</sup> | Freddie Mac Strips 347 C28, 4.500%, 02/15/2044 | 927014 | 0.0 |
| 7931347 <sup>(6)</sup> | Freddie Mac Strips 347 C5, 3.000%, 05/15/2043 | 1199508 | 0.0 |
| 15556638 <sup>(6)</sup> | Freddie Mac Strips 365 C23, 3.500%, 10/15/2047 | 2700043 | 0.0 |
| 671212 <sup>(3)</sup> | Freddie Mac Structured Pass-Through Certificates T-48 1A, 4.345%, 07/25/2033 | 649038 | 0.0 |
| 2356494 | Freddie Mac Whole Loan Securities Trust 2017-SC01 1A, 3.000%, 12/25/2046 | 2047931 | 0.0 |
| 2226370 | Freddie Mac Whole Loan Securities Trust 2017-SC01 2A, 3.500%, 12/25/2046 | 1976865 | 0.0 |
| 317272 <sup>(1)(3)</sup> | Galton Funding Mortgage Trust 2018-2 A51, 4.500%, 10/25/2058 | 305858 | 0.0 |
| 3250476 <sup>(1)(3)</sup> | Galton Funding Mortgage Trust 2018-2 B2, 4.577%, 10/25/2058 | 3145438 | 0.0 |
| 3338351 <sup>(1)(3)</sup> | GCAT Trust 2025-INV2 B3, 7.052%, 05/25/2055 | 3463516 | 0.1 |
| 2000000 <sup>(1)(3)</sup> | GCAT Trust 2025-INV4 B3, 7.280%, 08/25/2055 | 2099798 | 0.0 |
| 649030 <sup>(3)(6)</sup> | Ginnie Mae 2005-37 SI, 1.900%, (-1.000\*TSFR1M + 6.036%), 05/20/2035 | 46628 | 0.0 |
| 149062 <sup>(3)(6)</sup> | Ginnie Mae 2005-7 AH, 2.509%, (-1.000\*TSFR1M + 6.656%), 02/16/2035 | 11279 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 3346138 <sup>(3)(6)</sup> | Ginnie Mae 2007-17 IC, 1.989%, (-1.000\*TSFR1M + 6.136%), 04/16/2037 | $170999 | 0.0 |
| 701142 <sup>(3)(6)</sup> | Ginnie Mae 2007-23 ST, 1.950%, (-1.000\*TSFR1M + 6.086%), 04/20/2037 | 61482 | 0.0 |
| 864470 <sup>(3)(6)</sup> | Ginnie Mae 2007-40 SE, 2.500%, (-1.000\*TSFR1M + 6.636%), 07/20/2037 | 92774 | 0.0 |
| 4309429 <sup>(3)(6)</sup> | Ginnie Mae 2007-41 SL, 2.450%, (-1.000\*TSFR1M + 6.586%), 07/20/2037 | 401435 | 0.0 |
| 551763 <sup>(3)(6)</sup> | Ginnie Mae 2007-7 EI, 1.950%, (-1.000\*TSFR1M + 6.086%), 02/20/2037 | 48301 | 0.0 |
| 508144 <sup>(3)(6)</sup> | Ginnie Mae 2008-2 SW, 2.300%, (-1.000\*TSFR1M + 6.436%), 01/20/2038 | 52199 | 0.0 |
| 243255 <sup>(3)(6)</sup> | Ginnie Mae 2008-35 SN, 2.150%, (-1.000\*TSFR1M + 6.286%), 04/20/2038 | 18702 | 0.0 |
| 118611 <sup>(3)(6)</sup> | Ginnie Mae 2008-40 PS, 2.239%, (-1.000\*TSFR1M + 6.386%), 05/16/2038 | 7374 | 0.0 |
| 399633 <sup>(3)(6)</sup> | Ginnie Mae 2009-25 KS, 1.950%, (-1.000\*TSFR1M + 6.086%), 04/20/2039 | 36901 | 0.0 |
| 315333 | Ginnie Mae 2009-29 PB, 4.750%, 05/20/2039 | 320119 | 0.0 |
| 289369 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 291657 | 0.0 |
| 6338843 | Ginnie Mae 2009-33 ZB, 6.000%, 05/20/2039 | 6545602 | 0.1 |
| 652077 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 655839 | 0.0 |
| 459561 | Ginnie Mae 2009-98 DA, 3.250%, 07/16/2039 | 453357 | 0.0 |
| 1687927 | Ginnie Mae 2010-108 WL, 4.000%, 04/16/2040 | 1667898 | 0.0 |
| 2047998 <sup>(3)(6)</sup> | Ginnie Mae 2010-11 SA, 2.159%, (-1.000\*TSFR1M + 6.306%), 01/16/2040 | 193233 | 0.0 |
| 521576 <sup>(3)(6)</sup> | Ginnie Mae 2010-116 NS, 2.389%, (-1.000\*TSFR1M + 6.536%), 09/16/2040 | 39932 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2098588 <sup>(3)(6)</sup> | Ginnie Mae 2010-116 SK, 2.370%, (-1.000\*TSFR1M + 6.506%), 08/20/2040 | $179750 | 0 |
| 857338 <sup>(3)(6)</sup> | Ginnie Mae 2010-14 SB, 2.550%, (-1.000\*TSFR1M + 6.686%), 11/20/2035 | 84852 | 0 |
| 268827 <sup>(3)(6)</sup> | Ginnie Mae 2010-149 HS, 1.839%, (-1.000\*TSFR1M + 5.986%), 05/16/2040 | 1130 | 0 |
| 258397 | Ginnie Mae 2010-164 MD, 4.000%, 12/20/2040 | 253222 | 0 |
| 881205 <sup>(6)</sup> | Ginnie Mae 2010-168 BI, 5.000%, 04/20/2040 | 136201 | 0 |
| 562369 <sup>(3)(6)</sup> | Ginnie Mae 2010-68 MS, 1.600%, (-1.000\*TSFR1M + 5.736%), 06/20/2040 | 52993 | 0 |
| 499228 <sup>(6)</sup> | Ginnie Mae 2010-99 IT, 5.000%, 08/16/2040 | 65352 | 0 |
| 616365 | Ginnie Mae 2011-52 PA, 4.250%, 02/16/2041 | 615437 | 0 |
| 1340272 <sup>(3)(6)</sup> | Ginnie Mae 2011-72 SA, 1.089%, (-1.000\*TSFR1M + 5.236%), 05/16/2041 | 95324 | 0 |
| 99580 <sup>(6)</sup> | Ginnie Mae 2012-91 QI, 4.500%, 09/20/2041 | 6420 | 0 |
| 395920 | Ginnie Mae 2013-116 KB, 3.500%, 12/20/2042 | 391547 | 0 |
| 2250834 <sup>(6)</sup> | Ginnie Mae 2013-167 PI, 5.500%, 11/20/2043 | 307512 | 0 |
| 6879167 | Ginnie Mae 2013-170 ZD, 2.500%, 11/16/2043 | 6126323 | 0.1 |
| 61123 | Ginnie Mae 2013-27 KA, 2.250%, 02/20/2043 | 57346 | 0 |
| 294210 | Ginnie Mae 2013-69 KA, 1.250%, 08/20/2042 | 264182 | 0 |
| 41 <sup>(6)</sup> | Ginnie Mae 2014-10 GI, 4.500%, 01/16/2029 |  | 0 |
| 1852667 <sup>(3)(6)</sup> | Ginnie Mae 2014-185 SB, 1.350%, (-1.000\*TSFR1M + 5.486%), 12/20/2044 | 131320 | 0 |
| 1054364 <sup>(3)(6)</sup> | Ginnie Mae 2014-3 QS, 1.900%, (-1.000\*TSFR1M + 6.036%), 03/20/2043 | 56341 | 0 |
| 3112766 <sup>(3)(6)</sup> | Ginnie Mae 2014-3 SU, 1.800%, (-1.000\*TSFR1M + 5.936%), 07/20/2039 | 274331 | 0 |
| 1653519 <sup>(3)(6)</sup> | Ginnie Mae 2014-56 SP, 1.939%, (-1.000\*TSFR1M + 6.086%), 12/16/2039 | 117590 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 5705103 <sup>(3)(6)</sup> | Ginnie Mae 2014-58 SG, 1.339%, (-1.000\*TSFR1M + 5.486%), 04/16/2044 | $335688 | 0.0 |
| 501311 | Ginnie Mae 2015-27 PB, 3.000%, 08/20/2044 | 497009 | 0.0 |
| 11593727 <sup>(3)(6)</sup> | Ginnie Mae 2016-160 GS, 1.850%, (-1.000\*TSFR1M + 5.986%), 11/20/2046 | 1496733 | 0.0 |
| 343665 | Ginnie Mae 2016-44 JA, 3.500%, 03/20/2046 | 323684 | 0.0 |
| 24088205 <sup>(3)(6)</sup> | Ginnie Mae 2016-6 SB, 1.400%, (-1.000\*TSFR1M + 5.536%), 01/20/2046 | 2046746 | 0.0 |
| 5606011 <sup>(3)(6)</sup> | Ginnie Mae 2017-101 SA, 1.950%, (-1.000\*TSFR1M + 6.086%), 07/20/2047 | 726107 | 0.0 |
| 12280228 <sup>(3)(6)</sup> | Ginnie Mae 2017-163 SH, 1.950%, (-1.000\*TSFR1M + 6.086%), 11/20/2047 | 1621973 | 0.0 |
| 7742280 <sup>(3)(6)</sup> | Ginnie Mae 2017-19 SE, 1.889%, (-1.000\*TSFR1M + 6.036%), 02/16/2047 | 786957 | 0.0 |
| 4781307 | Ginnie Mae 2018-1 LZ, 3.000%, 01/20/2048 | 3892222 | 0.1 |
| 363290 | Ginnie Mae 2018-104 HZ, 3.500%, 08/20/2048 | 272707 | 0.0 |
| 933074 | Ginnie Mae 2018-120 DE, 3.500%, 09/20/2048 | 876981 | 0.0 |
| 217380 | Ginnie Mae 2018-122 GZ, 3.500%, 09/20/2048 | 173699 | 0.0 |
| 1257424 | Ginnie Mae 2018-126 A, 3.500%, 09/20/2048 | 1162292 | 0.0 |
| 218772 | Ginnie Mae 2018-147 KZ, 3.750%, 10/20/2048 | 179632 | 0.0 |
| 11622266 <sup>(3)(6)</sup> | Ginnie Mae 2018- 167 CS, 1.850%, (-1.000\*TSFR1M + 5.986%), 12/20/2048 | 1238598 | 0.0 |
| 176532 | Ginnie Mae 2019-100 JB, 3.000%, 08/20/2049 | 131769 | 0.0 |
| 532322 | Ginnie Mae 2019-100 KB, 3.000%, 08/20/2049 | 396180 | 0.0 |
| 1349931 | Ginnie Mae 2019-100 MC, 3.000%, 08/20/2049 | 987332 | 0.0 |
| 73824995 <sup>(6)</sup> | Ginnie Mae 2019-129 AI, 3.500%, 10/20/2049 | 14191010 | 0.2 |
| 34019998 <sup>(6)</sup> | Ginnie Mae 2019-137 GI, 4.000%, 11/20/2049 | 7403689 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 16884602 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2019-159 SM, 1.800%, (-1.000\*TSFR1M + 5.936%), 12/20/2049 | $2118363 | 0.0 |
| 1081376 | Ginnie Mae 2019-23 NG, 3.500%, 02/20/2049 | 832851 | 0.0 |
| 71326 | Ginnie Mae 2019-54 AB, 3.000%, 04/20/2049 | 56343 | 0.0 |
| 798785 | Ginnie Mae 2019- 78 MB, 3.000%, 06/20/2049 | 594217 | 0.0 |
| 416445 | Ginnie Mae 2019-89 KB, 3.000%, 07/20/2049 | 311630 | 0.0 |
| 299424 | Ginnie Mae 2019-89 WB, 3.000%, 07/20/2049 | 219824 | 0.0 |
| 67350034 <sup>(6)</sup> | Ginnie Mae 2020-187 BI, 2.500%, 12/20/2050 | 10072888 | 0.1 |
| 17302746 <sup>(6)</sup> | Ginnie Mae 2020-188 PI, 3.500%, 06/20/2050 | 3236252 | 0.0 |
| 15911266 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020-32 SG, 1.850%, (-1.000\*TSFR1M + 5.986%), 03/20/2050 | 2025478 | 0.0 |
| 13605249 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020-34 SQ, 1.800%, (-1.000\*TSFR1M + 5.936%), 10/20/2049 | 1660423 | 0.0 |
| 24586277 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020-46 BS, 0.336%, (-1.000\*TSFR1M + 3.236%), 04/20/2050 | 335231 | 0.0 |
| 11993233 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020- 77 JS, 1.850%, (-1.000\*TSFR1M + 5.986%), 10/20/2048 | 1098413 | 0.0 |
| 73824384 <sup>(6)</sup> | Ginnie Mae 2021-139 PI, 2.500%, 08/20/2051 | 10614695 | 0.1 |
| 18318912 <sup>(6)</sup> | Ginnie Mae 2021-146 IL, 4.000%, 08/20/2051 | 3912625 | 0.1 |
| 17225537 <sup>(6)</sup> | Ginnie Mae 2021-161 IC, 4.500%, 09/20/2051 | 3869468 | 0.1 |
| 27506046 <sup>(6)</sup> | Ginnie Mae 2021-57 IG, 3.500%, 09/20/2050 | 5269134 | 0.1 |
| 38099093 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2022-172 SB, 1.311%, (-1.000\*SOFR30A + 5.700%), 10/20/2052 | 2892104 | 0.0 |
| 13253708 | Ginnie Mae 2023-111 ZL, 6.000%, 08/20/2053 | 13572094 | 0.2 |
| 1663058 | Ginnie Mae 2023-99 DV, 5.000%, 07/20/2034 | 1678369 | 0.0 |
| 110037845 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2024-184 SN, 0.911%, (-1.000\*SOFR30A + 5.300%), 11/20/2054 | 6535087 | 0.1 |
| 6675993 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6861745 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 76893454 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2025-105 ES, 1.800%, (-1.000\*TSFR1M + 5.936%), 11/20/2049 | $7975062 | 0.1 |
| 149455010 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2025-139 SD, 1.561%, (-1.000\*SOFR30A + 5.950%), 08/20/2065 | 5628565 | 0.1 |
| 263164 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A1, 3.500%, 05/25/2050 | 236703 | 0.0 |
| 422064 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A4, 3.500%, 05/25/2050 | 379627 | 0.0 |
| 1052707 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A8, 3.500%, 05/25/2050 | 946860 | 0.0 |
| 268998 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | 253888 | 0.0 |
| 2633031 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.364%, 11/25/2049 | 2443357 | 0.0 |
| 967655 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.971%, 03/25/2050 | 899446 | 0.0 |
| 1437783 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B2A, 3.412%, 10/25/2050 | 1241142 | 0.0 |
| 886083 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.412%, 10/25/2050 | 713213 | 0.0 |
| 1339683 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2021-GR3 B4, 3.375%, 04/25/2052 | 1108380 | 0.0 |
| 2889509 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023-PJ4 A3, 6.000%, 01/25/2054 | 2931447 | 0.0 |
| 1941433 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023-PJ5 B2, 6.703%, 02/25/2054 | 1998471 | 0.0 |
| 2036332 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023-PJ6 B2, 6.854%, 04/25/2054 | 2113229 | 0.0 |
| 3655576 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ1 B2, 7.040%, 06/25/2054 | 3792659 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 813969 <sup>(1)(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ2 B3, 6.202%, 07/25/2054 | $805576 | 0.0 |
| 2918342 <sup>(1)(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ4 B2, 6.063%, 08/25/2054 | 2928896 | 0.0 |
| 1911514 <sup>(1)(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ4 B3, 6.063%, 08/25/2054 | 1869755 | 0.0 |
| 106167 | GSR Mortgage Loan Trust 2007-1F 3A13, 6.000%, 01/25/2037 | 63823 | 0.0 |
| 1201983 <sup>(3)</sup> | HarborView Mortgage Loan Trust 2007-5 A1A, 4.628%, (TSFR1M + 0.494%), 09/19/2037 | 1044828 | 0.0 |
| 26475 <sup>(3)</sup> | HomeBanc Mortgage Trust 2004-1 2A, 5.132%, (TSFR1M + 0.974%), 08/25/2029 | 26002 | 0.0 |
| 4762264 <sup>(1)</sup> | HTAP Issuer Trust 2025-1 A, 6.500%, 11/25/2042 | 4771603 | 0.1 |
| 286281 <sup>(3)</sup> | Impac CMB Trust Series 2005-1 M1, 4.962%, (TSFR1M + 0.804%), 04/25/2035 | 273937 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 1605115 | 0.0 |
| 1359892 <sup>(3)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 4.692%, (TSFR1M + 0.534%), 02/25/2046 | 1038305 | 0.0 |
| 32279 <sup>(1)(3)</sup> | J.P. Morgan Mortgage Trust 2019-2 A3, 4.000%, 08/25/2049 | 30616 | 0.0 |
| 2079062 <sup>(1)(3)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.148%, 05/25/2052 | 1706340 | 0.0 |
| 2230438 <sup>(1)(3)</sup> | J.P. Morgan Mortgage Trust 2023-8 B3, 6.230%, 02/25/2054 | 2226169 | 0.0 |
| 4685880 <sup>(1)(3)</sup> | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 4730031 | 0.1 |
| 302426 | JP Morgan Alternative Loan Trust 2005-S1 1A1, 5.500%, 12/25/2035 | 82577 | 0.0 |
| 933682 <sup>(3)</sup> | JP Morgan Mortgage Trust 2005-A4 B1, 5.626%, 07/25/2035 | 901940 | 0.0 |
| 822568 <sup>(1)(3)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 738203 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1157154 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-6 B3, 3.778%, 12/25/2048 | $1060519 | 0.0 |
| 1628653 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B1, 3.576%, 06/25/2048 | 1494239 | 0.0 |
| 1567645 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B2, 3.576%, 06/25/2048 | 1431684 | 0.0 |
| 2071634 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B3, 3.576%, 06/25/2048 | 1892148 | 0.0 |
| 1775473 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.715%, 10/25/2048 | 1636560 | 0.0 |
| 129097 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | 121018 | 0.0 |
| 211986 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | 191005 | 0.0 |
| 471082 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 A5, 3.500%, 03/25/2050 | 424469 | 0.0 |
| 1537063 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-INV1 B3, 4.925%, 09/25/2049 | 1500518 | 0.0 |
| 653644 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-1 A7, 3.500%, 06/25/2050 | 588736 | 0.0 |
| 229446 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-2 A15, 3.500%, 07/25/2050 | 206579 | 0.0 |
| 236603 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-3 A15, 3.500%, 08/25/2050 | 212792 | 0.0 |
| 1882458 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-5 B3, 3.574%, 12/25/2050 | 1661883 | 0.0 |
| 863046 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-8 B2, 3.488%, 03/25/2051 | 768060 | 0.0 |
| 176534 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-INV1 A3, 3.500%, 08/25/2050 | 158980 | 0.0 |
| 1380781 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2022-2 B3, 3.122%, 08/25/2052 | 1127574 | 0.0 |
| 1365966 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.294%, 05/25/2054 | 1358309 | 0.0 |
| 2062959 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-2 A9, 6.500%, 08/25/2054 | 2092966 | 0.0 |
| 3184955 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-9 A9A, 5.500%, 02/25/2055 | 3181299 | 0.0 |
| 3673495 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2025-CCM1 A9, 5.500%, 06/25/2055 | 3669278 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 12094078 <sup>(3)</sup><sup>(6)</sup> | Lehman Mortgage Trust 2006-7 2A4, 2.278%, (-1.000\*TSFR1M + 6.436%), 11/25/2036 | $1858472 | 0.0 |
| 8302817 <sup>(3)</sup><sup>(6)</sup> | Lehman Mortgage Trust 2006-9 2A5, 2.348%, (-1.000\*TSFR1M + 6.506%), 01/25/2037 | 1005186 | 0.0 |
| 133643 <sup>(1)</sup><sup>(3)</sup> | MFA Trust 2020-NQM3 A3, 1.632%, 01/26/2065 | 127851 | 0.0 |
| 3300449 <sup>(1)</sup><sup>(3)</sup> | Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059 | 3228921 | 0.0 |
| 2482000 <sup>(1)</sup><sup>(3)</sup> | Mill City Mortgage Trust 2015-2 B2, 3.701%, 09/25/2057 | 2314940 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2020-1 A5A, 2.500%, 12/25/2050 | 707488 | 0.0 |
| 4642747 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B1, 7.130%, 03/25/2054 | 5018507 | 0.1 |
| 3906555 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-4 A13, 5.500%, 09/25/2054 | 3882382 | 0.1 |
| 1681115 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 6.991%, 09/25/2054 | 1739217 | 0.0 |
| 1403144 <sup>(1)</sup><sup>(3)</sup> | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 1391930 | 0.0 |
| 494690 <sup>(1)</sup><sup>(3)</sup> | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 484626 | 0.0 |
| 245848 <sup>(1)</sup><sup>(3)</sup> | Oaktown Re VI Ltd. 2021-1A M1C, 7.356%, (SOFR30A + 3.000%), 10/25/2033 | 247306 | 0.0 |
| 6000000 <sup>(1)</sup><sup>(3)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.706%, (SOFR30A + 3.350%), 04/25/2034 | 6101741 | 0.1 |
| 24281 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2019-EXP1 1A3, 4.000%, 01/25/2059 | 24092 | 0.0 |
| 235786 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2019-INV2 A25, 4.000%, 05/27/2049 | 221174 | 0.0 |
| 1316739 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2025-J2 A19, 5.500%, 09/25/2055 | 1314075 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1414908494 <sup>(1)</sup><sup>(6)</sup> | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | $7713444 | 0.1 |
| 46023 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 41200 | 0.0 |
| 2839935 <sup>(1)</sup><sup>(3)</sup> | Provident Funding Mortgage Trust 2025-2 A13, 6.000%, 06/25/2055 | 2866693 | 0.0 |
| 2968637 <sup>(1)</sup><sup>(3)</sup> | Provident Funding Mortgage Trust 2025-3 A13, 6.000%, 08/25/2055 | 2985475 | 0.0 |
| 146224562 <sup>(1)</sup><sup>(3)</sup><sup>(6)</sup> | RATE Mortgage Trust 2021-HB1 AX1, 0.200%, 12/25/2051 | 1762123 | 0.0 |
| 566174 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2019-1 A13, 3.500%, 09/25/2049 | 513712 | 0.0 |
| 833363 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2019-1 B4, 3.897%, 09/25/2049 | 754366 | 0.0 |
| 235344137 <sup>(1)</sup><sup>(3)</sup><sup>(6)</sup> | RCKT Mortgage Trust 2021-1 AX1, 0.215%, 03/25/2051 | 2910289 | 0.0 |
| 182499604 <sup>(1)</sup><sup>(3)</sup><sup>(6)</sup> | RCKT Mortgage Trust 2021-3 AX1, 0.125%, 07/25/2051 | 1373611 | 0.0 |
| 1581508 <sup>(1)</sup><sup>(3)</sup> | Redwood Funding Trust 2025-2 A, 7.112%, 10/25/2055 | 1596295 | 0.0 |
| 3935223 <sup>(1)</sup> | Redwood Funding Trust 2025-3 A, 6.231%, 12/27/2056 | 3944861 | 0.1 |
| 31026779 <sup>(3)</sup> | Seasoned Credit Risk Transfer Trust 2017-4 HT, 3.250%, 06/25/2057 | 28117919 | 0.3 |
| 173878 <sup>(1)</sup><sup>(3)</sup> | Seasoned Credit Risk Transfer Trust Series 2016-1 M2, 3.750%, 09/25/2055 | 160099 | 0.0 |
| 3045104 | Seasoned Credit Risk Transfer Trust Series 2018-2 HT, 3.000%, 11/25/2057 | 2642433 | 0.0 |
| 7078687 | Seasoned Credit Risk Transfer Trust Series 2018-2 MV, 3.500%, 11/25/2057 | 6773652 | 0.1 |
| 3141678 | Seasoned Credit Risk Transfer Trust Series 2018-3 HT, 3.000%, 08/25/2057 | 2718694 | 0.0 |
| 2511905 | Seasoned Credit Risk Transfer Trust Series 2018-4 HT, 3.000%, 03/25/2058 | 2149464 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2855625 | Seasoned Credit Risk Transfer Trust Series 2019-1 HT, 3.000%, 07/25/2058 | $2473684 | 0.0 |
| 1421543 | Seasoned Credit Risk Transfer Trust Series 2019-2 HT, 3.000%, 08/25/2058 | 1232420 | 0.0 |
| 659184 | Seasoned Credit Risk Transfer Trust Series 2019-3 HT, 3.000%, 10/25/2058 | 573529 | 0.0 |
| 5449023 | Seasoned Credit Risk Transfer Trust Series 2019-3 MA, 3.500%, 10/25/2058 | 5291888 | 0.1 |
| 711661 | Seasoned Credit Risk Transfer Trust Series 2019-4 M55D, 4.000%, 02/25/2059 | 666604 | 0.0 |
| 63087 | Seasoned Credit Risk Transfer Trust Series 2020-3 TTU, 2.500%, 05/25/2060 | 58889 | 0.0 |
| 32340000 | Seasoned Loans Structured Transaction Trust Series 2019-3 A2C, 2.750%, 11/25/2029 | 30048701 | 0.3 |
| 699693 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2015-2 B3, 3.755%, 05/25/2045 | 617413 | 0.0 |
| 982625 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2015-3 B3, 3.726%, 07/25/2045 | 794221 | 0.0 |
| 572138 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2017-5 B3, 3.786%, 08/25/2047 | 522965 | 0.0 |
| 100282 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 03/25/2048 | 94123 | 0.0 |
| 2017530 <sup>(1)</sup> | Sequoia Mortgage Trust 2018-CH1 B2B, 4.434%, 03/25/2048 | 1938122 | 0.0 |
| 455351 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-4 A19, 3.500%, 11/25/2049 | 414013 | 0.0 |
| 1304 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-CH2 A1, 4.500%, 08/25/2049 | 1300 | 0.0 |
| 1738804 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-2 B2, 3.633%, 03/25/2050 | 1560884 | 0.0 |
| 2645980 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-3 B2, 3.304%, 04/25/2050 | 2324517 | 0.0 |
| 974316 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2021-5 A19, 2.500%, 07/25/2051 | 806962 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 907751 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2021-5 B3, 3.050%, 07/25/2051 | $759940 | 0.0 |
| 981177 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 990421 | 0.0 |
| 3494072 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 3490060 | 0.1 |
| 2531522 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-2 A19, 6.000%, 03/25/2055 | 2555374 | 0.0 |
| 4254504 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-6 B3, 6.223%, 07/25/2055 | 4165152 | 0.1 |
| 1997772 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-8 B3, 6.251%, 09/25/2055 | 1964013 | 0.0 |
| 3600000 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-9 A28, 6.000%, 10/25/2055 | 3644156 | 0.1 |
| 1383289 <sup>(1)</sup><sup>(3)</sup> | Shellpoint Co-Originator Trust 2017-2 B2, 3.618%, 10/25/2047 | 1293589 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 801725 | 0.0 |
| 1940730 <sup>(1)</sup><sup>(3)</sup> | TIAA Bank Mortgage Loan Trust 2018-2 B2, 3.658%, 07/25/2048 | 1779504 | 0.0 |
| 2640000 <sup>(1)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2015-2 2B2, 4.905%, 11/25/2057 | 2631131 | 0.0 |
| 2191547 <sup>(1)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2016-2 M1, 3.000%, 08/25/2055 | 2165952 | 0.0 |
| 3200000 <sup>(1)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2017-1 M1, 3.750%, 10/25/2056 | 3156079 | 0.0 |
| 2200000 <sup>(1)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2017-3 M1, 3.500%, 07/25/2057 | 2140723 | 0.0 |
| 1985376 <sup>(1)</sup><sup>(3)</sup> | Triangle Re Ltd. 2021-3 M1B, 7.256%, (SOFR30A + 2.900%), 02/25/2034 | 1990970 | 0.0 |
| 190441 <sup>(3)</sup> | Wachovia Mortgage Loan Trust LLC Series Trust 2005-B 2A1, 7.177%, 10/20/2035 | 186632 | 0.0 |
| 848963 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR11 A1C3, 5.292%, (TSFR1M + 1.134%), 08/25/2045 | 821253 | 0.0 |
| 33566640 <sup>(3)</sup><sup>(6)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR11 X, 1.410%, 08/25/2045 | 38437 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 185991 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.667%, 10/25/2036 | $173525 | 0 |
| 131630 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 2A3, 3.752%, 10/25/2036 | 119688 | 0 |
| 404867 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR14 1A4, 4.208%, 11/25/2036 | 365373 | 0 |
| 420981 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR16 2A1, 4.470%, 12/25/2036 | 375891 | 0 |
| 979445 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.161%, 12/25/2036 | 889972 | 0 |
| 265699 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY3 1A1, 3.825%, 03/25/2037 | 223441 | 0 |
| 1595036 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2004-AR4 A6, 5.468%, 06/25/2034 | 1563151 | 0 |
| 599606 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2005-AR13 A1C3, 5.252%, (TSFR1M + 1.094%), 10/25/2045 | 588966 | 0 |
| 973263 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2006-AR16 2A3, 4.470%, 12/25/2036 | 869019 | 0 |
| 796015 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 5.172%, (TSFR1M + 1.014%), 11/25/2035 | 728780 | 0 |
| 449097 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | 423937 | 0 |
| 2791308 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 5.113%, (12MTA + 0.960%), 08/25/2046 | 1613139 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 205878 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | $| 178597 | 0.0 |
| 403904 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2007-OC1 A3, 4.732%, (TSFR1M + 0.574%), 01/25/2047 |  | 365426 | 0.0 |
| 320621 <sup>(3)</sup> | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 4.702%, (TSFR1M + 0.544%), 06/25/2037 |  | 281414 | 0.0 |
| 353021 | Wells Fargo Alternative Loan Trust 2007-PA3 3A1, 6.250%, 07/25/2037 |  | 308732 | 0.0 |
| 86627 <sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2006-AR4 2A4, 6.085%, 04/25/2036 |  | 85941 | 0.0 |
| 1740821 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.514%, 09/25/2049 |  | 1224094 | 0.0 |
| 452280 <sup>(1)</sup><sup>(3)</sup> | WinWater Mortgage Loan Trust 2015-5 B3, 3.761%, 08/20/2045 |  | 424100 | 0.0 |
| 737814 <sup>(1)</sup><sup>(3)</sup> | WinWater Mortgage Loan Trust 2015-5 B4, 3.761%, 08/20/2045 |  | 685129 | 0.0 |
|  | Total Collateralized Mortgage Obligations |  |  |  |
|  | (Cost $1,510,303,588) |  | **1443636844** | **14.5** |
| **ASSET-BACKED SECURITIES: 12.4%** | **ASSET-BACKED SECURITIES: 12.4%** | **ASSET-BACKED SECURITIES: 12.4%** | **ASSET-BACKED SECURITIES: 12.4%** | **ASSET-BACKED SECURITIES: 12.4%** |
|  | **Automobile Asset-Backed Securities: 0.3%** | **Automobile Asset-Backed Securities: 0.3%** | **Automobile Asset-Backed Securities: 0.3%** | **Automobile Asset-Backed Securities: 0.3%** |
| 6025135 <sup>(1)</sup><sup>(3)</sup> | Bayview Opportunity Master Fund VII LLC 2024-CAR1 A, 5.456%, (SOFR30A + 1.100%), 12/26/2031 | Bayview Opportunity Master Fund VII LLC 2024-CAR1 A, 5.456%, (SOFR30A + 1.100%), 12/26/2031 | 6043284 | 0.1 |
| 13614150 <sup>(1)</sup> | Bayview Opportunity Master Fund VII Trust 2024-SN1 A3, 5.660%, 03/15/2028 | Bayview Opportunity Master Fund VII Trust 2024-SN1 A3, 5.660%, 03/15/2028 | 13674120 | 0.1 |
| 11850000 <sup>(1)</sup> | Westlake Automobile Receivables Trust 2024-1A B, 5.550%, 11/15/2027 | Westlake Automobile Receivables Trust 2024-1A B, 5.550%, 11/15/2027 | 11932418 | 0.1 |
|  |  |  | **31649822** | **0.3** |
|  | **Home Equity Asset-Backed Securities: 0.1%** | **Home Equity Asset-Backed Securities: 0.1%** | **Home Equity Asset-Backed Securities: 0.1%** | **Home Equity Asset-Backed Securities: 0.1%** |
| 2160055 <sup>(1)</sup><sup>(3)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 | 1764777 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Home Equity Asset-Backed Securities: (continued)** | **Home Equity Asset-Backed Securities: (continued)** | **Home Equity Asset-Backed Securities: (continued)** |
| 3432266 <sup>(3)</sup> | Freddie Mac Structured Pass-Through Certificates T-31 A7, 4.721%, (SOFR30A + 0.364%), 05/25/2031 | 3430910 | 0.0 |
| 2460603 <sup>(3)</sup> | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | 873285 | 0.0 |
| 108573 <sup>(3)</sup> | HSI Asset Loan Obligation Trust 2007-WF1 A6, 6.350%, 12/25/2036 | 76252 | 0.0 |
| 398270 <sup>(3)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A3, 4.592%, (TSFR1M + 0.434%), 02/25/2037 | 361632 | 0.0 |
| 479751 <sup>(3)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 4.732%, (TSFR1M + 0.574%), 02/25/2037 | 435471 | 0.0 |
| 374164 <sup>(3)</sup> | Renaissance Home Equity Loan Trust 2005-3 AF4, 5.640%, 11/25/2035 | 374288 | 0.0 |
| 4982682 <sup>(1)</sup> | Unlock HEA Trust 2025-1 A, 6.750%, 07/25/2041 | 4999489 | 0.1 |
|  |  | **12316104** | **0.1** |
|  | **Other Asset-Backed Securities: 11.1%** | **Other Asset-Backed Securities: 11.1%** | **Other Asset-Backed Securities: 11.1%** |
| 40830000 <sup>(1)</sup><sup>(3)</sup> | 720 East CLO Ltd. 2023-IA A1R, 5.688%, (TSFR3M + 1.370%), 04/15/2038 | 40968700 | 0.4 |
| 9160000 <sup>(1)</sup><sup>(3)</sup> | 720 East CLO VII Ltd. 2025-7A B, 5.831%, (TSFR3M + 1.550%), 04/20/2037 | 9164653 | 0.1 |
| 7020000 <sup>(1)</sup><sup>(3)</sup> | 720 East CLO VII Ltd. 2025-7A C, 5.981%, (TSFR3M + 1.700%), 04/20/2037 | 6956897 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | AB BSL CLO 4 Ltd. 2023-4A A1R, 5.625%, (TSFR3M + 1.300%), 04/20/2038 | 1003450 | 0.0 |
| 18200000 <sup>(1)</sup><sup>(3)</sup> | Allegany Park CLO Ltd. 2019-1A ARR, 5.375%, (TSFR3M + 1.100%), 01/20/2035 | 18220329 | 0.2 |
| 8990000 <sup>(1)</sup><sup>(3)</sup> | AMMC CLO 31 Ltd. 2025-31A B, 6.025%, (TSFR3M + 1.700%), 02/20/2038 | 9016880 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 2021515 <sup>(1)</sup><sup>(3)</sup> | Apidos CLO XXXII 2019-32A A1R, 5.425%, (TSFR3M + 1.100%), 01/20/2033 | $2022993 | 0.0 |
| 10000000 <sup>(1)</sup><sup>(3)</sup> | Apidos CLO XXXV 2021-35A C, 6.237%, (TSFR3M + 1.912%), 04/20/2034 | 10017880 | 0.1 |
| 3700000 <sup>(1)</sup> | Applebee's Funding LLC / IHOP Funding LLC 2025-1A A2, 6.720%, 06/07/2055 | 3752298 | 0.0 |
| 335149 <sup>(1)</sup> | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 | 327160 | 0.0 |
| 552129 <sup>(1)</sup> | Aqua Finance Trust 2020-AA A, 1.900%, 07/17/2046 | 522734 | 0.0 |
| 6190518 <sup>(1)</sup><sup>(3)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 5.615%, (TSFR1M + 1.464%), 11/15/2036 | 6190916 | 0.1 |
| 22550000 <sup>(1)</sup><sup>(3)</sup> | Ares LXV CLO Ltd. 2022-65A A1R, 5.278%, (TSFR3M + 1.120%), 07/25/2034 | 22607412 | 0.2 |
| 20750000 <sup>(1)</sup><sup>(3)</sup> | Bain Capital Credit CLO Ltd. 2020-5A ARR, 5.335%, (TSFR3M + 1.150%), 04/20/2034 | 20760043 | 0.2 |
| 14200000 <sup>(1)</sup><sup>(3)</sup> | Ballyrock CLO 18 Ltd. 2021-18A A2R, 5.968%, (TSFR3M + 1.650%), 04/15/2038 | 14227889 | 0.1 |
| 6250000 <sup>(1)</sup><sup>(3)</sup> | Barings CLO Ltd. 2019-4A CR, 6.518%, (TSFR3M + 2.200%), 07/15/2037 | 6278756 | 0.1 |
| 13890000 <sup>(1)</sup><sup>(3)</sup> | Benefit Street Partners CLO Ltd. 2015-6BR BR, 5.875%, (TSFR3M + 1.550%), 04/20/2038 | 13924156 | 0.1 |
| 5500000 <sup>(1)</sup><sup>(3)</sup> | Benefit Street Partners CLO XXI Ltd. 2020-21A A1R, 5.749%, (TSFR3M + 1.432%), 10/15/2034 | 5508838 | 0.1 |
| 20100000 <sup>(1)</sup><sup>(3)</sup> | Benefit Street Partners CLO XXIX Ltd. 2022-29A AR, 5.498%, (TSFR3M + 1.180%), 01/25/2038 | 20100261 | 0.2 |
| 8750000 <sup>(1)</sup><sup>(3)</sup> | Birch Grove CLO 10 Ltd. 2024-10A A, 5.722%, (TSFR3M + 1.390%), 01/22/2038 | 8778280 | 0.1 |
| 13650000 <sup>(1)</sup><sup>(3)</sup> | Birch Grove CLO 12 Ltd. 2025-12A A1, 5.513%, (TSFR3M + 1.170%), 04/22/2038 | 13666557 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 19040000 <sup>(1)</sup><sup>(3)</sup> | Birch Grove CLO 12 Ltd. 2025-12A B, 5.893%, (TSFR3M + 1.550%), 04/22/2038 | $19054280 | 0.2 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BlueMountain CLO Ltd. 2014-2A A2R2, 5.987%, (TSFR3M + 1.662%), 10/20/2030 | 2003972 | 0.0 |
| 7801647 <sup>(1)</sup><sup>(3)</sup> | BlueMountain CLO Ltd. 2016-3A A1R2, 5.411%, (TSFR3M + 1.200%), 11/15/2030 | 7806070 | 0.1 |
| 2800000 <sup>(1)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 2842469 | 0.0 |
| 7570000 <sup>(1)</sup><sup>(3)</sup> | Broad River Bsl Funding Clo Ltd. 2020-1A AR, 5.757%, (TSFR3M + 1.432%), 07/20/2034 | 7575413 | 0.1 |
| 4400000 <sup>(1)</sup><sup>(3)</sup> | Broad River Bsl Funding Clo Ltd. 2020-1A CR, 6.587%, (TSFR3M + 2.262%), 07/20/2034 | 4406512 | 0.0 |
| 3658437 <sup>(1)</sup><sup>(3)</sup> | BSPRT Issuer Ltd. 2023-FL10 A, 6.409%, (TSFR1M + 2.259%), 09/15/2035 | 3659615 | 0.0 |
| 6600000 <sup>(1)</sup><sup>(3)</sup> | California Street CLO IX L.P. 2012-9A CR3, 7.079%, (TSFR3M + 2.762%), 07/16/2032 | 6614236 | 0.1 |
| 13927335 <sup>(1)</sup><sup>(3)</sup> | Carlyle Global Market Strategies CLO Ltd. 2015-4A A1RR, 5.545%, (TSFR3M + 1.220%), 07/20/2032 | 13928031 | 0.1 |
| 10000000 <sup>(1)</sup><sup>(3)</sup> | Cedar Funding IV CLO Ltd. 2014-4A CR3, 6.369%, (TSFR3M + 2.050%), 01/23/2038 | 10022430 | 0.1 |
| 13000000 <sup>(1)</sup><sup>(3)</sup> | Cedar Funding VIII Clo Ltd. 2017-8A ARR, 5.542%, (TSFR3M + 1.220%), 01/17/2038 | 13003419 | 0.1 |
| 23571 <sup>(3)</sup> | Chase Funding Trust Series 2003-5 2A2, 4.872%, (TSFR1M + 0.714%), 07/25/2033 | 23787 | 0.0 |
| 7500000 <sup>(1)</sup> | Cherry Securitization Trust 2025-1A A, 6.130%, 11/15/2032 | 7627402 | 0.1 |
| 7160000 <sup>(1)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2018-2A A1R, 5.695%, (TSFR3M + 1.370%), 10/20/2037 | 7179268 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2019-6A A2R, 6.018%, (TSFR3M + 1.700%), 07/16/2037 | 3005124 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 21000000 <sup>(1)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2022-4A AR, 5.372%, (TSFR3M + 1.090%), 07/16/2035 | $21005565 | 0.2 |
| 1657087 <sup>(1)</sup> | CLI Funding VI LLC 2020-1A A, 2.080%, 09/18/2045 | 1552802 | 0 |
| 5027381 <sup>(1)</sup> | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 4651678 | 0.1 |
| 4465000 <sup>(1)</sup> | DB Master Finance LLC 2019-1A A23, 4.352%, 05/20/2049 | 4431214 | 0 |
| 5336686 <sup>(1)</sup> | Driven Brands Funding LLC 2019-1A A2, 4.641%, 04/20/2049 | 5336022 | 0.1 |
| 5118052 <sup>(1)</sup> | Driven Brands Funding LLC 2021-1A A2, 2.791%, 10/20/2051 | 4831831 | 0.1 |
| 6400000 <sup>(1)</sup><sup>(3)</sup> | Dryden 49 Senior Loan Fund 2017-49A CR, 6.641%, (TSFR3M + 2.312%), 07/18/2030 | 6413331 | 0.1 |
| 11400000 <sup>(1)</sup><sup>(3)</sup> | Dryden 75 CLO Ltd. 2019-75A CR2, 6.379%, (TSFR3M + 2.062%), 04/15/2034 | 11411867 | 0.1 |
| 8000000 <sup>(1)</sup><sup>(3)</sup> | Eaton Vance Clo Ltd. 2015-1A A2R, 5.837%, (TSFR3M + 1.512%), 01/20/2030 | 8002000 | 0.1 |
| 22500000 <sup>(1)</sup><sup>(3)</sup> | Elmwood CLO IV Ltd. 2020-1A AR, 5.789%, (TSFR3M + 1.460%), 04/18/2037 | 22556700 | 0.2 |
| 17790000 <sup>(1)</sup><sup>(3)</sup> | Elmwood CLO IX Ltd. 2021-2A BR, 5.875%, (TSFR3M + 1.550%), 04/20/2038 | 17848582 | 0.2 |
| 8990000 <sup>(1)</sup><sup>(3)</sup> | Elmwood CLO XI Ltd. 2021-4A BR, 5.875%, (TSFR3M + 1.550%), 01/20/2038 | 9017186 | 0.1 |
| 21900000 <sup>(1)</sup><sup>(3)</sup> | Empower CLO Ltd. 2022-1A A1R, 5.715%, (TSFR3M + 1.390%), 10/20/2037 | 21991432 | 0.2 |
| 5210625 <sup>(1)</sup> | Five Guys Holdings, Inc. 2023-1A A2, 7.549%, 01/26/2054 | 5426317 | 0.1 |
| 2486527 <sup>(1)</sup><sup>(3)</sup> | FS Rialto 2021-FL3 A, 5.511%, (TSFR1M + 1.364%), 11/16/2036 | 2486875 | 0 |
| 3306187 <sup>(1)</sup><sup>(3)</sup> | Galaxy XXVI CLO Ltd. 2018-26A AR, 5.374%, (TSFR3M + 1.170%), 11/22/2031 | 3307694 | 0 |
| 4643125 <sup>(1)</sup> | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 4705715 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 355255 <sup>(1)</sup> | HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040 | $344546 | 0.0 |
| 332681 <sup>(1)</sup> | HERO Funding Trust 2016-2A A, 3.750%, 09/20/2041 | 318963 | 0.0 |
| 879666 <sup>(1)</sup> | HERO Funding Trust 2016-4A A2, 4.290%, 09/20/2047 | 848879 | 0.0 |
| 17750000 <sup>(1)</sup><sup>(3)</sup> | Invesco CLO Ltd. 2021-3A BR, 5.653%, (TSFR3M + 1.500%), 10/22/2034 | 17776181 | 0.2 |
| 7761000 <sup>(1)</sup> | Jersey Mike's Funding LLC 2024-1A A2, 5.636%, 02/15/2055 | 7921968 | 0.1 |
| 10030000 <sup>(1)</sup><sup>(3)</sup> | Lakeside Park CLO Ltd. 2025-1A B1, 5.837%, (TSFR3M + 1.550%), 04/15/2038 | 10060581 | 0.1 |
| 6000000 <sup>(1)</sup><sup>(3)</sup> | LCM 26 Ltd. 26A A2, 5.837%, (TSFR3M + 1.512%), 01/20/2031 | 6001782 | 0.1 |
| 3554511 <sup>(1)</sup><sup>(3)</sup> | LCM 30 Ltd. 30A AR, 5.667%, (TSFR3M + 1.342%), 04/20/2031 | 3560732 | 0.0 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | LCM XVIII L.P. 18A A2R, 5.807%, (TSFR3M + 1.482%), 04/20/2031 | 5001840 | 0.1 |
| 11900000 <sup>(1)</sup><sup>(3)</sup> | LCM XXIV Ltd. 24A CR, 6.487%, (TSFR3M + 2.162%), 03/20/2030 | 11928822 | 0.1 |
| 6714870 <sup>(1)</sup> | Loanpal Solar Loan Ltd. 2021-2GS A, 2.220%, 03/20/2048 | 5480812 | 0.1 |
| 6150000 <sup>(1)</sup><sup>(3)</sup> | Madison Park Funding XLVIII Ltd. 2021-48 AC, 6.587%, (TSFR3M + 2.262%), 04/19/2033 | 6160904 | 0.1 |
| 10580000 <sup>(1)</sup><sup>(3)</sup> | Magnetite Xlv Ltd. 2025-45A B, 5.835%, (TSFR3M + 1.550%), 04/15/2038 | 10613983 | 0.1 |
| 31780000 <sup>(1)</sup><sup>(3)</sup> | Magnetite XXXI Ltd. 2021-31A A1, 5.679%, (TSFR3M + 1.362%), 07/15/2034 | 31835837 | 0.3 |
| 10000000 <sup>(1)</sup><sup>(3)</sup> | MF1 Ltd. 2021-FL6 AS, 5.700%, (TSFR1M + 1.564%), 07/16/2036 | 10001261 | 0.1 |
| 3199959 <sup>(1)</sup><sup>(3)</sup> | MF1 Ltd. 2022-FL8 A, 5.484%, (TSFR1M + 1.350%), 02/19/2037 | 3200911 | 0.0 |
| 3500000 <sup>(1)</sup><sup>(3)</sup> | MF1 Ltd. 2024-FL14 A, 5.871%, (TSFR1M + 1.737%), 03/19/2039 | 3516404 | 0.0 |
| 7500000 <sup>(1)</sup><sup>(3)</sup> | MF1 Ltd. 2024-FL15 A, 6.988%, (TSFR1M + 1.688%), 08/18/2041 | 7529396 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 513737 <sup>(1)</sup> | Mill City Solar Loan Ltd. 2019-1A A, 4.340%, 03/20/2043 | $478821 | 0.0 |
| 2657664 <sup>(1)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 2399166 | 0.0 |
| 1693490 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 1593157 | 0.0 |
| 2879388 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-2GS A, 4.200%, 02/22/2044 | 2699064 | 0.0 |
| 370185 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 336383 | 0.0 |
| 2269545 <sup>(1)</sup> | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 2013716 | 0.0 |
| 2668010 <sup>(1)</sup> | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 2321982 | 0.0 |
| 5327292 <sup>(1)</sup> | Mosaic Solar Loan Trust 2020-2A A, 1.440%, 08/20/2046 | 4489693 | 0.1 |
| 2440380 <sup>(1)</sup> | Mosaic Solar Loan Trust 2021-1A B, 2.050%, 12/20/2046 | 1955840 | 0.0 |
| 7042066 <sup>(1)</sup> | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | 6874510 | 0.1 |
| 992456 <sup>(1)</sup> | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | 935433 | 0.0 |
| 5213634 <sup>(1)</sup> | Mosaic Solar Loans LLC 2024-1A A, 5.500%, 09/20/2049 | 5057781 | 0.1 |
| 9100000 <sup>(1)</sup><sup>(3)</sup> | Neuberger Berman CLO XVII Ltd. 2014-17A AR3, 5.732%, (TSFR3M + 1.400%), 07/22/2038 | 9142279 | 0.1 |
| 6000000 <sup>(1)</sup><sup>(3)</sup> | Oaktree CLO Ltd. 2023-1A BR, 6.318%, (TSFR3M + 2.000%), 04/15/2038 | 6045144 | 0.1 |
| 6010000 <sup>(1)</sup><sup>(3)</sup> | OCP Clo Ltd. 2019-17A AR2, 5.725%, (TSFR3M + 1.400%), 07/20/2037 | 6026828 | 0.1 |
| 5930000 <sup>(1)</sup><sup>(3)</sup> | Octagon 58 Ltd. 2022-1A BR, 6.068%, (TSFR3M + 1.750%), 04/15/2038 | 5965497 | 0.1 |
| 13850000 <sup>(1)</sup><sup>(3)</sup> | Octagon Investment Partners 29 Ltd. 2016-1A A1R2, 5.749%, (TSFR3M + 1.420%), 07/18/2037 | 13892644 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 4500000 <sup>(1)</sup><sup>(3)</sup> | Octagon Investment Partners 32 Ltd. 2017-1A CR3, 6.368%, (TSFR3M + 2.050%), 10/31/2037 | $4524318 | 0.1 |
| 6700000 <sup>(1)</sup><sup>(3)</sup> | OHA Credit Funding 9 Ltd. 2021-9A CR, 6.275%, (TSFR3M + 1.950%), 10/19/2037 | 6740991 | 0.1 |
| 10700000 <sup>(1)</sup><sup>(3)</sup> | OHA Credit Partners VII Ltd. 2012-7A CR4, 5.904%, (TSFR3M + 1.700%), 02/20/2038 | 10736198 | 0.1 |
| 10900000 <sup>(1)</sup><sup>(3)</sup> | OZLM XV Ltd. 2016-15A A1R3, 5.332%, (TSFR3M + 1.050%), 04/20/2033 | 10913461 | 0.1 |
| 5665077 <sup>(1)</sup> | Pagaya AI Debt Grantor Trust 2024-11 B, 5.637%, 07/15/2032 | 5707387 | 0.1 |
| 10874 <sup>(1)</sup> | Pagaya AI Debt Selection Trust 2021-HG1 A, 1.220%, 01/16/2029 | 10857 | 0 |
| 21880000 <sup>(1)</sup><sup>(3)</sup> | Palmer Square CLO Ltd. 2021-1A A2R, 5.825%, (TSFR3M + 1.500%), 04/20/2038 | 21901530 | 0.2 |
| 5800000 <sup>(1)</sup><sup>(3)</sup> | Palmer Square CLO Ltd. 2021-1A BR, 6.125%, (TSFR3M + 1.800%), 04/20/2038 | 5822214 | 0.1 |
| 7410000 <sup>(1)</sup><sup>(3)</sup> | Palmer Square Loan Funding Ltd. 2025-1A B, 5.811%, (TSFR3M + 1.600%), 02/15/2033 | 7356515 | 0.1 |
| 8600000 <sup>(1)</sup><sup>(3)</sup> | Park Avenue Institutional Advisers CLO Ltd. 2017-1A A2R2, 5.619%, (TSFR3M + 1.550%), 02/14/2034 | 8606450 | 0.1 |
| 22300000 <sup>(1)</sup><sup>(3)</sup> | Park Avenue Institutional Advisers CLO Ltd. 2021-1A A1AR, 5.342%, (TSFR3M + 1.110%), 01/20/2034 | 22309121 | 0.2 |
| 13596582 <sup>(1)</sup> | Sabal Issuer 2025 1 LLC 2025-1A A, 6.280%, 11/01/2060 | 13939571 | 0.1 |
| 5663750 <sup>(1)</sup> | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 5861304 | 0.1 |
| 4652000 <sup>(1)</sup> | SoFi Consumer Loan Program Trust 2025-1 C, 5.420%, 02/27/2034 | 4725501 | 0.1 |
| 6928917 <sup>(1)</sup> | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 | 6833508 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 3840000 <sup>(1)</sup> | Sonic Capital LLC 2021-1A A2II, 2.636%, 08/20/2051 | $3323339 | 0.0 |
| 18000000 <sup>(1)</sup><sup>(3)</sup> | Sound Point Clo XVI Ltd. 2017-2A CR, 6.780%, (TSFR3M + 2.462%), 07/25/2030 | 18027450 | 0.2 |
| 9950000 <sup>(1)</sup><sup>(3)</sup> | Sound Point CLO XXIX Ltd. 2021-1A C1, 6.880%, (TSFR3M + 2.562%), 04/25/2034 | 9966109 | 0.1 |
| 23242622 <sup>(1)</sup><sup>(3)</sup> | Sound Point CLO XXVIII Ltd. 2020-3A A1R, 5.598%, (TSFR3M + 1.280%), 01/25/2032 | 23269444 | 0.2 |
| 3798114 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 | 3653397 | 0.0 |
| 2797633 <sup>(1)</sup> | Sunnova Helios V Issuer LLC 2021-A A, 1.800%, 02/20/2048 | 2209511 | 0.0 |
| 12005168 <sup>(1)</sup> | Sunnova Helios XI Issuer LLC 2023-A A, 5.300%, 05/20/2050 | 11030386 | 0.1 |
| 6855852 <sup>(1)</sup> | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | 5773748 | 0.1 |
| 7735944 <sup>(1)</sup> | Sunnova Sol III Issuer LLC 2021-1 A, 2.580%, 04/28/2056 | 6448397 | 0.1 |
| 3890103 <sup>(1)</sup> | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 | 3775837 | 0.0 |
| 6071734 <sup>(1)</sup> | Sunrun Bacchus Issuer LLC 2025-1A A1, 5.990%, 04/30/2060 | 6116546 | 0.1 |
| 4067324 <sup>(1)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 3907639 | 0.0 |
| 3700000 <sup>(1)</sup> | Sunrun Pangea Issuer LLC 2025-2A A1, 6.150%, 01/30/2054 | 3705045 | 0.0 |
| 2700300 <sup>(1)</sup> | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 2564803 | 0.0 |
| 11990000 <sup>(1)</sup><sup>(3)</sup> | Symphony Clo 47 Ltd. 2025-47A B, 5.875%, (TSFR3M + 1.550%), 04/20/2038 | 12031857 | 0.1 |
| 9796404 <sup>(1)</sup><sup>(3)</sup> | Symphony CLO XVI Ltd. 2015-16A ARR, 5.518%, (TSFR3M + 1.200%), 10/15/2031 | 9802850 | 0.1 |
| 13328361 <sup>(1)</sup><sup>(3)</sup> | Symphony CLO XX Ltd. 2018-20A AR2, 5.418%, (TSFR3M + 1.100%), 01/16/2032 | 13333052 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 8450000 <sup>(1)</sup><sup>(3)</sup> | Symphony CLO XXVI Ltd. 2021-26A CR, 6.587%, (TSFR3M + 2.262%), 04/20/2033 | 8460132 | 0.1 |
| 2000000 <sup>(1)</sup> | Taco Bell Funding LLC 2025-1A A2I, 4.821%, 08/25/2055 | 2009139 | 0.0 |
| 4646000 <sup>(1)</sup> | Textainer Marine Containers Ltd. 2021-3A A, 1.940%, 08/20/2046 | 4182586 | 0.0 |
| 3895000 <sup>(1)</sup> | Textainer Marine Containers VII Ltd. 2021-1A A, 1.680%, 02/20/2046 | 3633565 | 0.0 |
| 2106583 <sup>(1)</sup><sup>(3)</sup> | THL Credit Wind River CLO Ltd. 2015-1A A1R3, 5.525%, (TSFR3M + 1.200%), 10/20/2030 | 2107647 | 0.0 |
| 10316948 <sup>(1)</sup><sup>(3)</sup> | TIAA CLO I Ltd. 2016-1A ARR, 5.575%, (TSFR3M + 1.250%), 07/20/2031 | 10326016 | 0.1 |
| 12450000 <sup>(1)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 12675084 | 0.1 |
| 12455769 <sup>(1)</sup><sup>(3)</sup> | Venture 37 CLO Ltd. 2019-37A A1RR, 5.568%, (TSFR3M + 1.250%), 07/15/2032 | 12460179 | 0.1 |
| 3403124 <sup>(1)</sup> | Wendy's Funding LLC 2018-1A A2II, 3.884%, 03/15/2048 | 3357303 | 0.0 |
| 12580000 <sup>(1)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2016-1KRA BR3, 5.918%, (TSFR3M + 1.600%), 10/15/2034 | 12597851 | 0.1 |
| 10000000 <sup>(1)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2021-1A CR, 6.575%, (TSFR3M + 2.250%), 07/20/2037 | 10049350 | 0.1 |
| 8300000 <sup>(1)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2021-2A BR, 5.612%, (TSFR3M + 1.600%), 07/20/2034 | 8312707 | 0.1 |
| 7900000 <sup>(1)</sup> | Wingstop Funding LLC 2024-1A A2, 5.858%, 12/05/2054 | 8192103 | 0.1 |
| 15216000 <sup>(1)</sup> | Zaxby's Funding LLC 2021-1A A2, 3.238%, 07/30/2051 | 14372878 | 0.2 |
|  |  | **1099742537** | **11.1** |
|  | **Student Loan Asset-Backed Securities: 0.9%** | **Student Loan Asset-Backed Securities: 0.9%** | **Student Loan Asset-Backed Securities: 0.9%** |
| 265915 <sup>(1)</sup> | Commonbond Student Loan Trust 2016-B B, 4.000%, 10/25/2040 | 248614 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** |
| 360432 <sup>(1)</sup> | Commonbond Student Loan Trust-GS 2017-BGS B, 3.260%, 09/25/2042 | $301329 | 0.0 |
| 69007 <sup>(1)</sup> | Commonbond Student Loan Trust-GS 2018-AGS C, 3.820%, 02/25/2044 | 56864 | 0.0 |
| 2217595 <sup>(1)</sup> | Commonbond Student Loan Trust-GS 2020-AGS A, 1.980%, 08/25/2050 | 1996488 | 0.0 |
| 1195133 <sup>(1)</sup><sup>(3)</sup> | ELFI Graduate Loan Program LLC 2021-A B, 2.090%, 12/26/2046 | 998146 | 0.0 |
| 2606874 <sup>(1)</sup> | Laurel Road Prime Student Loan Trust 2020-A A2FX, 1.400%, 11/25/2050 | 2433878 | 0.0 |
| 1393354 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2020-DA A, 1.690%, 05/15/2069 | 1325534 | 0.0 |
| 1697062 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 | 1594040 | 0.0 |
| 7490950 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2020-HA A, 1.310%, 01/15/2069 | 7093564 | 0.1 |
| 3318103 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2021-BA A, 0.940%, 07/15/2069 | 3035102 | 0.0 |
| 4849181 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2021-DA C, 3.480%, 04/15/2060 | 4549750 | 0.1 |
| 1850000 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2021-FA B, 2.120%, 02/18/2070 | 1343933 | 0.0 |
| 2700000 <sup>(1)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 2331843 | 0.0 |
| 1396736 <sup>(1)</sup> | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | 1383627 | 0.0 |
| 7610774 <sup>(1)</sup> | SMB Private Education Loan Trust 2019-B A2A, 2.840%, 06/15/2037 | 7473963 | 0.1 |
| 1844053 <sup>(1)</sup> | SMB Private Education Loan Trust 2023-A A1A, 5.380%, 01/15/2053 | 1887449 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| |  | | | **Percentage** | **Percentage** |
| |  | | | **of Net** | **of Net** |
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Assets** | **Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |  |  |  |  |
|  | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** |
| 1900000 <sup>(1)</sup> | SMB Private Education Loan Trust 2023-A B, 5.880%, 01/15/2053 | $| 1954161 |  | 0.0 |
| 16106545 <sup>(1)</sup> | SMB Private Education Loan Trust-A 2020-PTA A2A, 1.600%, 09/15/2054 |  | 15209953 |  | 0.2 |
| 3203927 <sup>(1)</sup> | Sofi Professional Loan Program LLC 2018-A B, 3.610%, 02/25/2042 |  | 3117368 |  | 0.0 |
| 3000000 <sup>(1)</sup> | Sofi Professional Loan Program LLC 2019-B BFX, 3.730%, 08/17/2048 |  | 2817617 |  | 0.0 |
| 3900000 <sup>(1)</sup> | SoFi Professional Loan Program LLC 2017-F BFX, 3.620%, 01/25/2041 |  | 3775863 |  | 0.0 |
| 8000000 <sup>(1)</sup> | Sofi Professional Loan Program Trust 2018-B BFX, 3.830%, 08/25/2047 |  | 7759677 |  | 0.1 |
| 541051 <sup>(1)</sup> | Sofi Professional Loan Program Trust 2018-D A2FX, 3.600%, 02/25/2048 |  | 537258 |  | 0.0 |
| 5800000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 |  | 5623770 |  | 0.1 |
| 6000000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 |  | 5807363 |  | 0.1 |
| 4392769 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-C AFX, 1.950%, 02/15/2046 |  | 4126839 |  | 0.1 |
|  |  |  | **88783993** |  | **0.9** |
|  | Total Asset-Backed Securities |  |  |  |  |
|  | (Cost $1,242,501,147) |  | **1232492456** |  | **12.4** |
| **U.S. TREASURY OBLIGATIONS: 12.0%** | **U.S. TREASURY OBLIGATIONS: 12.0%** |  |  |  |  |
|  | **United States Treasury Bonds: 3.8%** | **United States Treasury Bonds: 3.8%** | **United States Treasury Bonds: 3.8%** |  |  |
| 58000 | 1.250%, 05/15/2050 |  | 28466 |  | 0.0 |
| 2699000 | 1.375%, 11/15/2040 |  | 1761994 |  | 0.0 |
| 268000 | 1.625%, 11/15/2050 |  | 143872 |  | 0.0 |
| 9469100 | 2.875%, 05/15/2052 |  | 6758940 |  | 0.1 |
| 14333300 | 3.250%, 05/15/2042 |  | 12046691 |  | 0.1 |
| 60467500 | 4.750%, 02/15/2045 |  | 60859594 |  | 0.6 |
| 44964500 | 4.750%, 05/15/2055 |  | 45119066 |  | 0.4 |
| 248986100 <sup>(2)</sup> | 4.875%, 08/15/2045 |  | 254568836 |  | 2.6 |
|  |  |  | **381287459** |  | **3.8** |
|  | **United States Treasury Notes: 8.2%** | **United States Treasury Notes: 8.2%** | **United States Treasury Notes: 8.2%** | **United States Treasury Notes: 8.2%** |  |
| 8184600 | 1.250%, 11/30/2026 |  | 7957286 |  | 0.1 |
| 25131200 | 1.250%, 09/30/2028 |  | 23445152 |  | 0.2 |
| 3309100 | 1.500%, 01/31/2027 |  | 3216096 |  | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. TREASURY OBLIGATIONS: (continued)** | **U.S. TREASURY OBLIGATIONS: (continued)** | | | |
|  | **United States Treasury Notes (continued)** | **United States Treasury Notes (continued)** | **United States Treasury Notes (continued)** | |
| 46866500 | 3.375%, 09/15/2027 | $| 46656882 | 0.5 |
| 125523700 | 3.375%, 09/15/2028 |  | 124675435 | 1.3 |
| 128770100 | 3.500%, 09/30/2027 |  | 128498475 | 1.3 |
| 109883300 | 3.625%, 09/30/2030 |  | 109329591 | 1.1 |
| 57336700 | 3.750%, 05/15/2028 |  | 57528195 | 0.6 |
| 171083900 | 3.875%, 09/30/2032 |  | 170535898 | 1.7 |
| 747000 | 3.875%, 08/15/2034 |  | 735708 | 0.0 |
| 1888000 | 4.000%, 03/31/2030 |  | 1909904 | 0.0 |
| 2501700 | 4.000%, 04/30/2032 |  | 2516700 | 0.0 |
| 25496000 <sup>(2)</sup> | 4.125%, 06/15/2026 |  | 25556923 | 0.3 |
| 107000800 <sup>(2)</sup> | 4.250%, 08/15/2035 |  | 107878540 | 1.1 |
| 1695100 | 4.375%, 05/15/2034 |  | 1734663 | 0.0 |
| 719000 | 4.625%, 06/15/2027 |  | 730529 | 0.0 |
|  |  |  | **812905977** | **8.2** |
|  | Total U.S. Treasury Obligations |  |  |  |
|  | (Cost $1,204,153,190) |  | **1194193436** | **12.0** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.1%** |  |
| 6500000 <sup>(1)(3)</sup> | 1345T 2025-AOA A, 5.750%, (TSFR1M + 1.600%), 06/15/2042 |  | 6526493 | 0.1 |
| 1750000 <sup>(1)(3)</sup> | Acrec 2025 Fl 3 LLC 2025-FL3 A, 5.446%, (TSFR1M + 1.310%), 08/18/2042 |  | 1749397 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | ACRES LLC 2025-FL3 A, 5.755%, (TSFR1M + 1.619%), 08/18/2040 |  | 5016808 | 0.1 |
| 7500000 <sup>(1)(3)</sup> | ALA Trust 2025-OANA A, 5.894%, (TSFR1M + 1.743%), 06/15/2040 |  | 7549941 | 0.1 |
| 10000000 <sup>(1)(3)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.900%, (TSFR1M + 1.750%), 06/15/2035 |  | 10016090 | 0.1 |
| 10572173 <sup>(1)(3)</sup> | AREIT LLC 2023-CRE8 A, 6.255%, (TSFR1M + 2.112%), 08/17/2041 |  | 10584028 | 0.1 |
| 1458890 <sup>(1)(3)</sup> | AREIT Ltd. 2024-CRE9 A, 5.837%, (TSFR1M + 1.686%), 05/17/2041 |  | 1460504 | 0.0 |
| 6000000 <sup>(1)(3)</sup> | AREIT Ltd. 2025-CRE10 A, 5.531%, (TSFR1M + 1.388%), 12/17/2029 |  | 6015532 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | ARES Commercial Mortgage Trust 2024-IND A, 5.842%, (TSFR1M + 1.692%), 07/15/2041 |  | 5019452 | 0.1 |
| 10000000 <sup>(1)(3)</sup> | ARES Commercial Mortgage Trust 2024-IND2 A, 5.593%, (TSFR1M + 1.443%), 10/15/2034 |  | 10019266 | 0.1 |
| 6500000 <sup>(1)(3)</sup> | ARES Trust 2025-IND3 A, 5.650%, (TSFR1M + 1.500%), 04/15/2042 |  | 6509610 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |  |
| 1500000 <sup>(1)</sup> | ARZ Trust 2024-BILT C, 6.361%, 06/11/2039 | $1538137 | 0 |
| 3600000 <sup>(1)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM A, 5.590%, 11/10/2029 | 3673536 | 0 |
| 4000000 <sup>(1)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM B, 6.090%, 11/10/2029 | 4088403 | 0 |
| 5000000 <sup>(1)(3)</sup> | Atrium Hotel Portfolio Trust 2025-ATRM A, 5.800%, (TSFR1M + 1.650%), 08/15/2042 | 5007788 | 0.1 |
| 2500000 <sup>(1)(3)</sup> | BAHA Trust 2024-MAR A, 6.171%, 12/10/2041 | 2588626 | 0 |
| 2500000 <sup>(1)(3)</sup> | BAHA Trust 2024-MAR B, 7.069%, 12/10/2041 | 2609518 | 0 |
| 7500000 <sup>(1)(3)</sup> | BAMLL Trust 2025-ASHF B, 6.501%, (TSFR1M + 2.350%), 02/15/2042 | 7548884 | 0.1 |
| 2500000 | BANK 2017-BNK4 A4, 3.625%, 05/15/2050 | 2473095 | 0 |
| 27881293 <sup>(3)(6)</sup> | BANK 2017-BNK4 XA, 1.486%, 05/15/2050 | 364846 | 0 |
| 167655000 <sup>(3)(6)</sup> | BANK 2017-BNK8 XB, 0.228%, 11/15/2050 | 738118 | 0 |
| 3600000 <sup>(1)</sup> | BANK 2017-BNK9 D, 2.800%, 11/15/2054 | 2505345 | 0 |
| 174267148 <sup>(3)(6)</sup> | BANK 2018-BN14 XA, 0.651%, 09/15/2060 | 1961664 | 0 |
| 19110000 <sup>(1)(3)(6)</sup> | BANK 2018-BN14 XD, 1.767%, 09/15/2060 | 781355 | 0 |
| 22210942 <sup>(3)(6)</sup> | BANK 2019-BN16 XA, 1.091%, 02/15/2052 | 522656 | 0 |
| 88088805 <sup>(3)(6)</sup> | BANK 2019-BN19 XA, 1.068%, 08/15/2061 | 2635802 | 0 |
| 5927649 <sup>(3)(6)</sup> | BANK 2020-BN30 XA, 1.366%, 12/15/2053 | 292108 | 0 |
| 3000000 <sup>(3)</sup> | BANK5 2024-5YR10 B, 6.140%, 10/15/2057 | 3091864 | 0 |
| 2500000 <sup>(3)</sup> | BANK5 2024-5YR10 C, 5.743%, 10/15/2057 | 2483785 | 0 |
| 5000000 | BANK5 2024-5YR7 A3, 5.769%, 06/15/2057 | 5221817 | 0.1 |
| 5000000 <sup>(3)</sup> | BANK5 2025-5YR15 C, 5.806%, 07/15/2058 | 5028390 | 0.1 |
| 5000000 | BANK5 2025-5YR17 C, 5.894%, 11/15/2058 | 5016736 | 0.1 |
| 1000000 <sup>(1)(3)</sup> | BAY Mortgage Trust 2025-LIVN A, 5.950%, (TSFR1M + 1.800%), 05/15/2035 | 1004382 | 0 |
| 10843524 <sup>(3)(6)</sup> | BBCMS Mortgage Trust 2022-C17 XA, 1.324%, 09/15/2055 | 705440 | 0 |
| 5250000 | BBCMS Mortgage Trust 2024-5C29 B, 5.858%, 09/15/2057 | 5365260 | 0.1 |
| 1000000 <sup>(3)</sup> | BBCMS Mortgage Trust 2024-5C31 C, 5.756%, 12/15/2057 | 1006315 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |  |
| 1300000 <sup>(3)</sup> | BBCMS Mortgage Trust 2025-5C34 B, 6.542%, 05/15/2058 | $1368991 | 0.0 |
| 2500000 <sup>(3)</sup> | BBCMS Mortgage Trust 2025-5C36 B, 6.187%, 08/15/2058 | 2600601 | 0.0 |
| 18709033 <sup>(3)(6)</sup> | BBCMS Trust 2021-C10 XA, 1.329%, 07/15/2054 | 953466 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | BDS LLC 2024-FL13 A, 5.710%, (TSFR1M + 1.576%), 09/19/2039 | 2011330 | 0.0 |
| 10000000 <sup>(1)(3)</sup> | BDS LLC 2025-FL15 A, 5.534%, (TSFR1M + 1.400%), 03/19/2043 | 10028130 | 0.1 |
| 1375786 <sup>(1)(3)</sup> | BDS Ltd. 2021-FL10 A, 5.600%, (TSFR1M + 1.464%), 12/16/2036 | 1376139 | 0.0 |
| 66429 <sup>(1)(3)</sup> | BDS Ltd. 2021-FL9 A, 5.320%, (TSFR1M + 1.184%), 11/16/2038 | 66437 | 0.0 |
| 3000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2018-B3 B, 4.295%, 04/10/2051 | 2802288 | 0.0 |
| 48684499 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2019-B12 XA, 1.201%, 08/15/2052 | 1242840 | 0.0 |
| 2000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2019-B13 C, 3.839%, 08/15/2057 | 1670017 | 0.0 |
| 33179930 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2019-B9 XA, 1.172%, 03/15/2052 | 838590 | 0.0 |
| 25002118 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2020-B17 XA, 1.494%, 03/15/2053 | 1045496 | 0.0 |
| 94300733 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2020-B19 XA, 1.781%, 09/15/2053 | 4530023 | 0.1 |
| 53657500 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2020-B20 XA, 1.635%, 10/15/2053 | 2846318 | 0.0 |
| 45335753 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2020-B21 XA, 1.526%, 12/17/2053 | 2520473 | 0.0 |
| 4805756 <sup>(3)(6)</sup> | Benchmark Mortgage Trust 2021-B28 XA, 1.351%, 08/15/2054 | 245310 | 0.0 |
| 2250000 <sup>(1)</sup> | Benchmark Mortgage Trust 2021-B30 D, 2.000%, 11/15/2054 | 1369813 | 0.0 |
| 3000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2022-B34 A5, 3.786%, 04/15/2055 | 2801237 | 0.0 |
| 5000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V16 C, 5.952%, 08/15/2058 | 5030192 | 0.1 |
| 2250000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V17 C, 5.873%, 09/15/2058 | 2263457 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 4500000 <sup>(1)(3)</sup> | BFLD Commercial Mortgage Trust 2024- UNIV A, 5.643%, (TSFR1M + 1.493%), 11/15/2041 | $4515855 | 0.1 |
| 4634985 <sup>(1)(3)</sup> | BFLD Mortgage Trust 2024-WRHS C, 6.591%, (TSFR1M + 2.441%), 08/15/2026 | 4643154 | 0.1 |
| 7500000 <sup>(1)(3)</sup> | BFLD Trust 2025-EWEST A, 5.700%, (TSFR1M + 1.550%), 06/15/2042 | 7542497 | 0.1 |
| 9000000 <sup>(1)(3)</sup> | BHMS Commercial Mortgage Trust 2025- ATLS B, 6.700%, (TSFR1M + 2.550%), 08/15/2042 | 9030006 | 0.1 |
| 2100000 <sup>(1)(3)</sup> | BIG Commercial Mortgage Trust 2022- BIG B, 5.891%, (TSFR1M + 1.741%), 02/15/2039 | 2095817 | 0.0 |
| 6295555 <sup>(1)(7)</sup> | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | 5426601 | 0.1 |
| 7671000 <sup>(1)</sup> | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.357%, 05/25/2052 | 6524820 | 0.1 |
| 5000000 | BMO Mortgage Trust 2024-5C5 A3, 5.857%, 02/15/2057 | 5239128 | 0.1 |
| 750000 <sup>(3)</sup> | BMO Mortgage Trust 2024-5C6 C, 5.885%, 09/15/2057 | 753079 | 0.0 |
| 7500000 | BMO Mortgage Trust 2025-5C10 A3, 5.578%, 05/15/2058 | 7825783 | 0.1 |
| 7323000 <sup>(3)</sup> | BMO Mortgage Trust 2025-5C12 B, 6.158%, 10/15/2058 | 7541466 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | BMP 2024-MF23 C, 5.991%, (TSFR1M + 1.841%), 06/15/2041 | 5018384 | 0.1 |
| 4225000 <sup>(1)(3)</sup> | BOCA Commercial Mortgage Trust 2024- BOCA A, 6.071%, (TSFR1M + 1.921%), 08/15/2041 | 4250115 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.486%, (TSFR1M + 1.386%), 01/17/2043 | 4992120 | 0.1 |
| 4000000 <sup>(1)(3)</sup> | BSTN Commercial Mortgage Trust 2025- HUB A, 5.062%, 04/13/2041 | 4000000 | 0.0 |
| 7651238 <sup>(1)(3)</sup> | BX 2024-BRVE A, 5.991%, (TSFR1M + 1.841%), 04/15/2026 | 7671871 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 5192308 <sup>(1)(3)</sup> | BX 2024-PALM A, 5.691%, (TSFR1M + 1.541%), 06/15/2037 | $5206966 | 0.1 |
| 5302500 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2021- 21M E, 6.435%, (TSFR1M + 2.285%), 10/15/2036 | 5299011 | 0.1 |
| 3762845 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2021- IRON E, 6.614%, (TSFR1M + 2.464%), 02/15/2038 | 3634207 | 0.0 |
| 1839296 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2021- VOLT A, 4.965%, (TSFR1M + 0.814%), 09/15/2036 | 1834066 | 0.0 |
| 1438427 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2021- VOLT D, 5.915%, (TSFR1M + 1.764%), 09/15/2036 | 1434672 | 0.0 |
| 1453242 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2021- VOLT F, 6.665%, (TSFR1M + 2.514%), 09/15/2036 | 1451473 | 0.0 |
| 4281733 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2023- XL3 A, 5.912%, (TSFR1M + 1.761%), 12/09/2040 | 4292491 | 0.0 |
| 3357131 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- AIR2 A, 5.643%, (TSFR1M + 1.492%), 10/15/2041 | 3366818 | 0.0 |
| 4680976 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- AIRC A, 5.841%, (TSFR1M + 1.691%), 08/15/2039 | 4696460 | 0.1 |
| 4362609 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- GPA3 A, 5.443%, (TSFR1M + 1.293%), 12/15/2039 | 4378614 | 0.0 |
| 4935031 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- KING A, 5.691%, (TSFR1M + 1.541%), 05/15/2034 | 4942799 | 0.1 |
| 2281246 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- MDHS A, 5.791%, (TSFR1M + 1.641%), 05/15/2041 | 2287110 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 5295904 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024-MF D, 6.840%, (TSFR1M + 2.690%), 02/15/2039 | $5319438 | 0.1 |
| 7045103 <sup>(1)(3)</sup> | BX Commercial Mortgage Trust 2024- XL5 C, 6.091%, (TSFR1M + 1.941%), 03/15/2041 | 7066558 | 0.1 |
| 3800000 <sup>(1)(3)</sup> | BX Trust 2021-LBA EJV, 6.265%, (TSFR1M + 2.114%), 02/15/2036 | 3795698 | 0.0 |
| 1423458 <sup>(1)(3)</sup> | BX Trust 2021-LBA EV, 6.265%, (TSFR1M + 2.114%), 02/15/2036 | 1421846 | 0.0 |
| 927976 <sup>(1)(3)</sup> | BX Trust 2021-SDMF E, 5.851%, (TSFR1M + 1.701%), 09/15/2034 | 924375 | 0.0 |
| 700000 <sup>(1)(3)</sup> | BX Trust 2022-FOX2 C, 5.460%, (TSFR1M + 1.309%), 04/15/2039 | 698689 | 0.0 |
| 1180000 <sup>(1)(3)</sup> | BX Trust 2022-LBA6 C, 5.750%, (TSFR1M + 1.600%), 01/15/2039 | 1180294 | 0.0 |
| 1384060 <sup>(1)(3)</sup> | BX Trust 2024-CNYN C, 6.091%, (TSFR1M + 1.941%), 04/15/2041 | 1387899 | 0.0 |
| 961153 <sup>(1)(3)</sup> | BX Trust 2024-CNYN D, 6.840%, (TSFR1M + 2.690%), 04/15/2041 | 965882 | 0.0 |
| 7362170 <sup>(1)(3)</sup> | BX Trust 2024-FNX A, 5.592%, (TSFR1M + 1.442%), 11/15/2041 | 7381025 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | BX Trust 2024-VLT4 A, 5.642%, (TSFR1M + 1.491%), 06/15/2041 | 5009336 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | BX Trust 2025-GW A, 5.750%, (TSFR1M + 1.600%), 07/15/2042 | 5022213 | 0.1 |
| 1500000 <sup>(1)(3)</sup> | BX Trust 2025-GW B, 6.000%, (TSFR1M + 1.850%), 07/15/2042 | 1507040 | 0.0 |
| 2388963 <sup>(1)(3)</sup> | BX Trust 2025-LUNR A, 5.650%, (TSFR1M + 1.500%), 06/15/2040 | 2397002 | 0.0 |
| 2388963 <sup>(1)(3)</sup> | BX Trust 2025-LUNR B, 6.000%, (TSFR1M + 1.850%), 06/15/2040 | 2397818 | 0.0 |
| 7000000 | BX Trust 2025-OMG, 5.500%, (TSFR1M + 1.350%), 10/15/2027 | 7000000 | 0.1 |
| 4980575 <sup>(1)(3)</sup> | BX Trust 2025-ROIC C, 5.693%, (TSFR1M + 1.543%), 03/15/2030 | 4975887 | 0.1 |
| 6250000 <sup>(1)(3)</sup> | BX Trust 2025-TAIL A, 5.550%, (TSFR1M + 1.400%), 06/15/2035 | 6249628 | 0.1 |
| 7200000 <sup>(1)(3)</sup> | BX Trust 2025-VLT6 C, 6.342%, (TSFR1M + 2.192%), 03/15/2042 | 7206526 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 5000000 <sup>(1)(3)</sup> | BX Trust 2025-VLT7 A, 5.850%, (TSFR1M + 1.700%), 07/15/2044 | $5020996 | 0.1 |
| 10000000 <sup>(1)(3)</sup> | BXSC Commercial Mortgage Trust 2022- WSS C, 6.542%, (TSFR1M + 2.391%), 03/15/2035 | 10032594 | 0.1 |
| 3000000 <sup>(1)(3)</sup> | BXSC Commercial Mortgage Trust 2022- WSS E, 8.285%, (TSFR1M + 4.134%), 03/15/2035 | 3015054 | 0 |
| 4000000 <sup>(1)(3)</sup> | Caliun 2024-SUN A, 6.108%, (TSFR1M + 1.891%), 07/15/2041 | 4014993 | 0 |
| 4259000 <sup>(3)</sup> | Cantor Commercial Real Estate Lending 2019-CF3 B, 3.500%, 01/15/2053 | 3753460 | 0 |
| 60233628 <sup>(3)(6)</sup> | CCUBS Commercial Mortgage Trust 2017- C1 XA, 1.091%, 11/15/2050 | 923538 | 0 |
| 19600931 <sup>(3)(6)</sup> | CD Mortgage Trust 2016-CD1 XA, 1.473%, 08/10/2049 | 77536 | 0 |
| 45113000 <sup>(1)(3)(6)</sup> | CD Mortgage Trust 2016-CD1 XB, 0.806%, 08/10/2049 | 146780 | 0 |
| 25331827 <sup>(3)(6)</sup> | CD Mortgage Trust 2017-CD4 XA, 1.370%, 05/10/2050 | 289001 | 0 |
| 4500000 <sup>(3)</sup> | CD Mortgage Trust 2018-CD7 AM, 4.510%, 08/15/2051 | 4409185 | 0 |
| 2000000 <sup>(1)</sup> | CFK Trust 2020-MF2 C, 2.995%, 03/15/2039 | 1810125 | 0 |
| 3000000 | Citigroup Commercial Mortgage Trust 2016-C1 B, 4.117%, 05/10/2049 | 2963743 | 0 |
| 35276784 <sup>(3)(6)</sup> | Citigroup Commercial Mortgage Trust 2016- P4 XA, 2.044%, 07/10/2049 | 225595 | 0 |
| 37340941 <sup>(3)(6)</sup> | Citigroup Commercial Mortgage Trust 2017-P8 XA, 1.000%, 09/15/2050 | 437152 | 0 |
| 68235097 <sup>(3)(6)</sup> | Citigroup Commercial Mortgage Trust 2018-C5 XA, 0.817%, 06/10/2051 | 1000954 | 0 |
| 799000 <sup>(1)(3)</sup> | Citigroup Commercial Mortgage Trust 2023-SMRT C, 6.048%, 10/12/2040 | 809541 | 0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(1)(3)</sup> | Citigroup Commercial Mortgage Trust 2023-SMRT D, 6.048%, 10/12/2040 | $998625 | 0.0 |
| 2861725 <sup>(1)(3)</sup> | CLNY Trust 2019-IKPR A, 5.717%, (TSFR1M + 1.493%), 11/15/2038 | 2828919 | 0.0 |
| 27260000 <sup>(1)(3)(6)</sup> | COMM Mortgage Trust 2012-CR4 XB, 0.509%, 10/15/2045 | 256015 | 0.0 |
| 3830180 | COMM Mortgage Trust 2014-UBS4 AM, 3.968%, 08/10/2047 | 3658635 | 0.0 |
| 29077709 <sup>(3)(6)</sup> | COMM Mortgage Trust 2016-CR28 XA, 0.994%, 02/10/2049 | 2775 | 0.0 |
| 31770517 <sup>(3)(6)</sup> | COMM Mortgage Trust 2017-COR2 XA, 1.302%, 09/10/2050 | 448199 | 0.0 |
| 3000000 <sup>(1)(3)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 3060745 | 0.0 |
| 3034000 <sup>(1)(3)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 3086017 | 0.0 |
| 1500000 <sup>(1)(3)</sup> | CONE Trust 2024-DFW1 A, 5.792%, (TSFR1M + 1.642%), 08/15/2041 | 1500991 | 0.0 |
| 3000000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2018-C14 AS, 4.722%, 11/15/2051 | 2930218 | 0.0 |
| 5183000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2018-CX11 A5, 4.033%, 04/15/2051 | 5144962 | 0.1 |
| 4000000 | CSAIL Commercial Mortgage Trust 2019-C16 A3, 3.329%, 06/15/2052 | 3861860 | 0.0 |
| 3746000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2020-C19 B, 3.476%, 03/15/2053 | 3170567 | 0.0 |
| 4500000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2020-C19 C, 3.734%, 03/15/2053 | 3687112 | 0.0 |
| 4200000 <sup>(1)(3)</sup> | CSTL Commercial Mortgage Trust 2024-GATE A, 4.923%, 11/10/2041 | 4221935 | 0.0 |
| 3200000 <sup>(1)(3)</sup> | CSTL Commercial Mortgage Trust 2024-GATE B, 5.221%, 11/10/2041 | 3194319 | 0.0 |
| 5000000 <sup>(1)</sup> | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 5182385 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 7000000 <sup>(1)(3)</sup> | DC Trust 2024-HLTN A, 5.933%, 04/13/2040 | $7083511 | 0.1 |
| 5500000 <sup>(1)(3)</sup> | DK Trust 2024-SPBX C, 6.100%, (TSFR1M + 1.950%), 03/15/2034 | 5518463 | 0.1 |
| 2750000 <sup>(1)(3)</sup> | DK Trust 2024-SPBX D, 6.900%, (TSFR1M + 2.750%), 03/15/2034 | 2760765 | 0 |
| 8000000 <sup>(1)(3)</sup> | DK Trust 2025-LXP A, 5.743%, (TSFR1M + 1.593%), 08/15/2037 | 8013701 | 0.1 |
| 2000000 <sup>(1)(3)</sup> | DTP Commercial Mortgage Trust 2023-STE2 A, 6.038%, 01/15/2041 | 2054962 | 0 |
| 3255045 <sup>(1)(3)</sup> | Extended Stay America Trust 2021-ESH E, 7.114%, (TSFR1M + 2.964%), 07/15/2038 | 3261000 | 0 |
| 2500000 <sup>(1)(3)</sup> | Extended Stay America Trust 2025-ESH D, 6.750%, (TSFR1M + 2.600%), 10/15/2042 | 2517184 | 0 |
| 4500000 <sup>(1)(3)</sup> | Extended Stay America Trust 2025-ESH E, 7.500%, (TSFR1M + 3.350%), 10/15/2042 | 4528126 | 0.1 |
| 7500000 <sup>(1)(3)</sup> | Fashion Show Mall LLC 2024-SHOW A, 5.274%, 10/10/2041 | 7614784 | 0.1 |
| 2000000 <sup>(1)(3)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU C, 6.300%, (TSFR1M + 2.150%), 12/15/2039 | 2005818 | 0 |
| 2500000 <sup>(1)(3)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU D, 6.750%, (TSFR1M + 2.600%), 12/15/2039 | 2508953 | 0 |
| 9871775 <sup>(1)(3)(6)</sup> | Freddie Mac Multifamily ML Certificates 2021-ML11 XUS, 0.769%, 03/25/2038 | 474178 | 0 |
| 14919379 | Freddie Mac Multifamily ML Certificates US XUS, 1.846%, 07/25/2037 | 1788180 | 0 |
| 67076089 <sup>(3)(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K109 X1, 1.685%, 04/25/2030 | 3899086 | 0 |
| 99759567 <sup>(3)(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 1.016%, 09/25/2030 | 3782314 | 0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 40491173 <sup>(3)(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K123 X1, 0.856%, 12/25/2030 | $1321118 | 0 |
| 71027311 <sup>(3)(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K151 X1, 0.486%, 04/25/2030 | 960318 | 0 |
| 13135444 <sup>(3)(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.623%, 05/25/2035 | 1396283 | 0 |
| 9000000 <sup>(1)(3)</sup> | FS Rialto Issuer LLC 2024-FL9 A, 5.764%, (TSFR1M + 1.631%), 10/19/2039 | 9057286 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.519%, (TSFR1M + 1.385%), 08/19/2042 | 5008887 | 0.1 |
| 4475000 <sup>(1)(3)</sup> | FS Trust 2024-HULA A, 5.961%, (TSFR1M + 1.811%), 08/15/2039 | 4488890 | 0.1 |
| 10263000 <sup>(1)(7)</sup> | GAM RE-REMIC Trust 2021-FRR1 2B, 0.000%, 11/29/2050 | 9015568 | 0.1 |
| 9029000 <sup>(1)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.958%, 11/27/2050 | 8338664 | 0.1 |
| 8696000 <sup>(1)(7)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 7116979 | 0.1 |
| 180167 <sup>(1)(7)</sup> | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 177560 | 0 |
| 7208000 <sup>(1)(7)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 6917766 | 0.1 |
| 3900000 <sup>(1)(3)</sup> | Great Wolf Trust 2024-WOLF D, 7.040%, (TSFR1M + 2.890%), 03/15/2039 | 3927575 | 0 |
| 7000000 <sup>(1)(3)</sup> | Greystone CRE Notes LLC 2025-FL4 A, 5.631%, (TSFR1M + 1.481%), 01/15/2043 | 7034001 | 0.1 |
| 5581000 <sup>(1)(3)</sup> | GS Mortgage Securities Corp. Trust 2021-STAR A, 5.220%, (TSFR1M + 1.064%), 12/15/2036 | 5555497 | 0.1 |
| 10205216 <sup>(3)(6)</sup> | GS Mortgage Securities Trust 2014-GC22 XA, 0.743%, 06/10/2047 | 3827 | 0 |
| 51286687 <sup>(3)(6)</sup> | GS Mortgage Securities Trust 2016-GS4 XA, 0.624%, 11/10/2049 | 99747 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 500000 <sup>(3)</sup> | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | $464580 | 0.0 |
| 66310700 <sup>(3)(6)</sup> | GS Mortgage Securities Trust 2019-GC38 XA, 1.169%, 02/10/2052 | 1793499 | 0.0 |
| 3261000 | GS Mortgage Securities Trust 2019-GC39 B, 3.970%, 05/10/2052 | 2946412 | 0.0 |
| 1015000 | GS Mortgage Securities Trust 2019-GC42 B, 3.363%, 09/10/2052 | 917173 | 0.0 |
| 4000000 | GS Mortgage Securities Trust 2019-GSA1 A4, 3.048%, 11/10/2052 | 3795674 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | GSAT Trust 2025-BMF C, 6.300%, (TSFR1M + 2.150%), 07/15/2040 | 5009860 | 0.1 |
| 3000000 <sup>(1)(3)</sup> | GSMS Trustair 2024-FAIR C, 7.120%, 07/15/2029 | 3082116 | 0.0 |
| 4250000 <sup>(1)(3)</sup> | GWT 2024-WLF2 A, 5.841%, (TSFR1M + 1.691%), 05/15/2041 | 4263589 | 0.0 |
| 2600000 <sup>(1)(3)</sup> | Hawaii Hotel Trust 2025-MAUI C, 6.192%, (TSFR1M + 2.042%), 03/15/2042 | 2608278 | 0.0 |
| 3000000 <sup>(1)(3)</sup> | HILT Commercial Mortgage Trust 2024-ORL A, 5.691%, (TSFR1M + 1.541%), 05/15/2037 | 3008387 | 0.0 |
| 7000000 <sup>(1)(3)</sup> | HLTN Commercial Mortgage Trust 2024-DPLO A, 5.792%, (TSFR1M + 1.642%), 06/15/2041 | 7020329 | 0.1 |
| 6000000 <sup>(1)(3)</sup> | HTL Commercial Mortgage Trust 2024-T53 A, 6.071%, 05/10/2039 | 6088798 | 0.1 |
| 2400000 <sup>(1)(3)</sup> | HYT Commercial Mortgage Trust 2024-RGCY A, 5.992%, (TSFR1M + 1.841%), 09/15/2041 | 2406852 | 0.0 |
| 2600000 <sup>(1)(3)</sup> | HYT Commercial Mortgage Trust 2024-RGCY B, 6.491%, (TSFR1M + 2.341%), 09/15/2041 | 2608464 | 0.0 |
| 4000000 <sup>(1)</sup> | ICNQ Mortgage Trust 2024-MF B, 6.074%, 12/10/2034 | 4110494 | 0.0 |
| 2500000 <sup>(1)(3)</sup> | ILPT Commercial Mortgage Trust 2025-LPF2 C, 6.023%, 07/13/2042 | 2546095 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 7500000 <sup>(1)(3)</sup> | INTOWN Mortgage Trust 2025-STAY D, 7.000%, (TSFR1M + 2.850%), 03/15/2042 | $7510542 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | IP Mortgage Trust 2025-IP C, 6.025%, 06/10/2042 | 5096324 | 0.1 |
| 7500000 <sup>(1)(3)</sup> | IRV Trust 2025-200P B, 5.621%, 03/14/2047 | 7574230 | 0.1 |
| 3000000 <sup>(1)(3)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI A, 5.990%, 10/05/2039 | 3062042 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI C, 5.990%, 10/05/2039 | 2011622 | 0.0 |
| 5075000 | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 A5, 2.870%, 08/15/2049 | 4995074 | 0.1 |
| 1600770 <sup>(3)</sup> | JPMBB Commercial Mortgage Securities Trust 2015-C29 B, 4.118%, 05/15/2048 | 1597276 | 0.0 |
| 3750000 <sup>(1)(3)</sup> | JW Trust 2024-BERY A, 5.743%, (TSFR1M + 1.593%), 11/15/2039 | 3761257 | 0.0 |
| 1730000 <sup>(1)</sup> | Key Commercial Mortgage Securities Trust 2018-S1 AS, 4.842%, 10/15/2053 | 1690261 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | KIND Commercial Mortgage Trust 2024-1 A, 6.040%, (TSFR1M + 1.890%), 08/15/2041 | 5014321 | 0.1 |
| 7700000 <sup>(1)(3)</sup> | KRE Commercial Mortgage Trust 2025-AIP4 C, 6.000%, (TSFR1M + 1.850%), 03/15/2042 | 7690518 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | KSL Commercial Mortgage Trust 2024-HT2 B, 6.192%, (TSFR1M + 2.042%), 12/15/2039 | 5011038 | 0.1 |
| 6000000 <sup>(1)(3)</sup> | LBA Trust 2024-BOLT A, 5.741%, (TSFR1M + 1.591%), 06/15/2039 | 6015353 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | Life Mortgage Trust 2022-BMR2 A1, 5.445%, (TSFR1M + 1.295%), 05/15/2039 | 4868086 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.528%, (TSFR1M + 1.385%), 08/17/2042 | 5016584 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 33336514 <sup>(1)(3)(6)</sup> | LSTAR Commercial Mortgage Trust 2017-5 X, 1.004%, 03/10/2050 | $213140 | 0 |
| 3250000 <sup>(1)(3)</sup> | MAD Commercial Mortgage Trust 2025-11MD A, 4.754%, 10/15/2042 | 3245111 | 0 |
| 3222769 <sup>(1)(3)</sup> | MCR Mortgage Trust 2024-HTL D, 8.056%, (TSFR1M + 3.905%), 02/15/2037 | 3235688 | 0 |
| 5000000 <sup>(1)</sup> | MCR Mortgage Trust 2024-TWA A, 5.924%, 06/12/2039 | 5074082 | 0.1 |
| 7825000 <sup>(1)(3)</sup> | MED Commercial Mortgage Trust 2024-MOB A, 5.742%, (TSFR1M + 1.592%), 05/15/2041 | 7816385 | 0.1 |
| 1716384 <sup>(1)(3)</sup> | MF1 LLC 2022-FL9 A, 6.284%, (TSFR1M + 2.150%), 06/19/2037 | 1718458 | 0 |
| 3000000 <sup>(1)(3)</sup> | MF1 LLC 2025-FL17 A, 5.456%, (TSFR1M + 1.320%), 02/18/2040 | 3007122 | 0 |
| 10000000 <sup>(1)(3)</sup> | MF1 LLC 2025-FL19 A, 5.624%, (TSFR1M + 1.488%), 05/18/2042 | 10043746 | 0.1 |
| 4400000 <sup>(1)(3)</sup> | MF1 LLC 2025-FL20 A, 5.586%, (TSFR1M + 1.450%), 02/18/2043 | 4420625 | 0.1 |
| 1000000 <sup>(1)(3)</sup> | MHP Commercial Mortgage Trust 2025-MHIL2 C, 6.200%, (TSFR1M + 2.050%), 09/15/2040 | 1001552 | 0 |
| 1500000 <sup>(1)(3)</sup> | MHP Commercial Mortgage Trust 2025-MHIL2 D, 6.800%, (TSFR1M + 2.650%), 09/15/2040 | 1502860 | 0 |
| 3500000 <sup>(3)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 B, 4.620%, 12/15/2047 | 3441161 | 0 |
| 5000000 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 A5, 2.860%, 09/15/2049 | 4916854 | 0.1 |
| 4000000 <sup>(3)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 B, 3.307%, 09/15/2049 | 3756414 | 0 |
| 4000000 | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 A4, 3.536%, 11/15/2052 | 3937492 | 0 |
| 5000000 <sup>(3)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1 C, 6.859%, 03/15/2058 | 5198298 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 36586161 <sup>(3)(6)</sup> | Morgan Stanley Capital I 2017-HR2 XA, 0.990%, 12/15/2050 | $549083 | 0.0 |
| 10000000 | Morgan Stanley Capital I Trust 2020-HR8 A4, 2.041%, 07/15/2053 | 8970275 | 0.1 |
| 29323981 <sup>(3)(6)</sup> | Morgan Stanley Capital I Trust 2021-L6 XA, 1.256%, 06/15/2054 | 1109309 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | MTN Commercial Mortgage Trust 2022-LPFL A, 5.557%, (TSFR1M + 1.397%), 03/15/2039 | 5000904 | 0.1 |
| 11500000 <sup>(1)(3)</sup> | NXPT Commercial Mortgage Trust 2024-STOR A, 4.455%, 11/05/2041 | 11386842 | 0.1 |
| 3500000 <sup>(1)(3)</sup> | NYC Commercial Mortgage Trust 2025-3BP A, 5.363%, (TSFR1M + 1.213%), 02/15/2042 | 3492782 | 0.0 |
| 4000000 <sup>(1)(3)</sup> | NYC Commercial Mortgage Trust 2025-3BP C, 6.042%, (TSFR1M + 1.892%), 02/15/2042 | 4001781 | 0.0 |
| 4000000 <sup>(1)(3)</sup> | NYC Trust 2024-3ELV A, 6.141%, (TSFR1M + 1.991%), 08/15/2029 | 4024347 | 0.0 |
| 2500000 <sup>(1)(3)</sup> | ONNI Commerical Mortgage Trust 2024-APT A, 5.753%, 07/15/2039 | 2560360 | 0.0 |
| 10000000 <sup>(1)(3)</sup> | ORL Trust 2024-GLKS C, 6.442%, (TSFR1M + 2.291%), 12/15/2039 | 10030248 | 0.1 |
| 3500000 <sup>(1)(3)</sup> | PENN Commercial Mortgage Trust 2025-P11 B, 6.125%, 08/10/2042 | 3568333 | 0.0 |
| 3389661 <sup>(1)(3)</sup> | PFP Ltd. 2024-11 A, 6.050%, (TSFR1M + 1.832%), 09/17/2039 | 3397360 | 0.0 |
| 1000000 <sup>(1)(3)</sup> | PRM Trust 2025-PRM6 A, 4.630%, 07/05/2033 | 997364 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | PRM Trust 2025-PRM6 C, 5.175%, 07/05/2033 | 1996596 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | PRM Trust 2025-PRM6 D, 5.867%, 07/05/2033 | 1999475 | 0.0 |
| 3000000 <sup>(1)(3)</sup> | PRM5 Trust 2025-PRM5 C, 5.167%, 03/10/2033 | 2993354 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | RFM Reremic Trust 2022-FRR1 AB60, 2.337%, 11/08/2049 | 4803962 | 0.1 |
| 19500000 <sup>(1)(3)</sup> | RFM Reremic Trust 2022-FRR1 AB64, 2.189%, 03/01/2050 | 18427618 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 6590000 <sup>(1)(7)</sup> | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | $5932360 | 0.1 |
| 10000000 <sup>(1)(3)</sup> | SCG Trust 2025-SNIP A, 5.750%, (TSFR1M + 1.500%), 09/15/2030 | 10043766 | 0.1 |
| 1000000 <sup>(1)(3)</sup> | SDAL Trust 2025-DAL A, 6.591%, (TSFR1M + 2.441%), 04/15/2042 | 1010615 | 0.0 |
| 2500000 <sup>(1)(3)</sup> | SDR Commercial Mortgage Trust 2024-DSNY B, 5.891%, (TSFR1M + 1.741%), 05/15/2039 | 2497413 | 0.0 |
| 5000000 <sup>(1)(3)</sup> | SHR Trust 2024-LXRY A, 6.100%, (TSFR1M + 1.950%), 10/15/2041 | 5014901 | 0.1 |
| 10000000 <sup>(1)(3)</sup> | SMRT 2022-MINI D, 6.101%, (TSFR1M + 1.950%), 01/15/2039 | 9957125 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | SWCH Commercial Mortgage Trust 2025-DATA B, 5.993%, (TSFR1M + 1.842%), 02/15/2042 | 4987553 | 0.1 |
| 5500000 <sup>(1)(3)</sup> | SWCH Commercial Mortgage Trust 2025-DATA C, 6.242%, (TSFR1M + 2.092%), 02/15/2042 | 5487493 | 0.1 |
| 4418311 <sup>(1)</sup> | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 4488630 | 0.1 |
| 4300000 <sup>(1)(3)</sup> | TRTX Issuer Ltd. 2025-FL6 A, 5.673%, (TSFR1M + 1.537%), 09/18/2042 | 4317249 | 0.0 |
| 7000000 <sup>(1)</sup> | VTR Commercial Mortgage Trust 2025-STEM A, 5.201%, 10/13/2041 | 7004633 | 0.1 |
| 4750000 <sup>(1)(3)</sup> | WCORE Commercial Mortgage Trust 2024-CORE A, 5.642%, (TSFR1M + 1.492%), 11/15/2041 | 4760934 | 0.1 |
| 3000000 <sup>(1)(3)</sup> | WCORE Commercial Mortgage Trust 2024-CORE B, 5.992%, (TSFR1M + 1.842%), 11/15/2041 | 3009670 | 0.0 |
| 4000000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | 3811851 | 0.0 |
| 1800000 | Wells Fargo Commercial Mortgage Trust 2017-RC1 C, 4.591%, 01/15/2060 | 1717808 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 4000000 | Wells Fargo Commercial Mortgage Trust 2019-C54 C, 3.810%, 12/15/2052 | $3552356 | 0.0 |
| 5000000 | Wells Fargo Commercial Mortgage Trust 2021-C59 C, 3.284%, 04/15/2054 | 4133652 | 0.0 |
| 5000000 | Wells Fargo Commercial Mortgage Trust 2024-5C1 AS, 6.520%, 07/15/2057 | 5254062 | 0.1 |
| 1250000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-5C5 C, 6.014%, 07/15/2058 | 1264271 | 0.0 |
| 6000000 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP A, 5.500%, (TSFR1M + 1.350%), 08/15/2042 | 6008731 | 0.1 |
| 3500000 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP C, 6.150%, (TSFR1M + 2.000%), 08/15/2042 | 3505188 | 0.0 |
| 2000000 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-DWHP B, 6.991%, (TSFR1M + 2.841%), 04/15/2038 | 2004553 | 0.0 |
| 3090000 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT B, 5.675%, 03/15/2038 | 3107994 | 0.0 |
| 3860000 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT C, 6.029%, 03/15/2038 | 3877913 | 0.0 |
| 3667171 <sup>(1)(3)</sup> | WFLD Mortgage Trust 2014-MONT A, 3.880%, 08/10/2031 | 3506979 | 0.0 |
| 5155066 <sup>(3)</sup> | WFRBS Commercial Mortgage Trust 2014-C21 B, 4.213%, 08/15/2047 | 5036016 | 0.1 |
| 5000000 <sup>(1)(3)</sup> | WHARF Commercial Mortgage Trust 2025-DC A, 5.528%, 07/15/2040 | 5133715 | 0.1 |
| 7000000 <sup>(1)</sup> | WSTN Trust 2023-MAUI A, 6.518%, 07/05/2037 | 7142115 | 0.1 |
|  | Total Commercial Mortgage-Backed Securities |  |  |
|  | (Cost $991,404,875) | **1005523848** | **10.1** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: 2.1%** | **SOVEREIGN BONDS: 2.1%** |  |  |
| <sup>BRL</sup>612211 <sup>(8)</sup> | Brazil Letras do Tesouro Nacional LTN, 15.084%, 01/01/2026 | $111070904 | 1.1 |
| 4825000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 4939690 | 0.1 |
| 6075000 | Brazilian Government International Bond, 6.625%, 03/15/2035 | 6330150 | 0.1 |
| 3125000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | 3173844 | 0.0 |
| 1000000 | Colombia Government International Bond, 3.125%, 04/15/2031 | 872500 | 0.0 |
| 1737000 | Colombia Government International Bond, 7.750%, 11/07/2036 | 1824284 | 0.0 |
| 4828000 | Colombia Government International Bond, 8.000%, 11/14/2035 | 5199756 | 0.1 |
| 3000000 | Colombia Government International Bond, 8.375%, 11/07/2054 | 3184500 | 0.0 |
| 4025000 <sup>(2)</sup> | Colombia Government International Bond, 8.500%, 04/25/2035 | 4460706 | 0.1 |
| 5250000 | Colombia Government International Bond, 8.750%, 11/14/2053 | 5781563 | 0.1 |
| 7375000 <sup>(1)</sup> | Dominican Republic International Bond, 6.950%, 03/15/2037 | 7899547 | 0.1 |
| 4100000 <sup>(1)</sup> | Guatemala Government Bond, 6.050%, 08/06/2031 | 4278350 | 0.1 |
| 2025000 <sup>(1)</sup> | Guatemala Government Bond, 6.550%, 02/06/2037 | 2143341 | 0.0 |
| 3927000 | Mexico Government International Bond, 5.850%, 07/02/2032 | 4077208 | 0.0 |
| 3199000 | Mexico Government International Bond, 6.625%, 01/29/2038 | 3371746 | 0.0 |
| 5523000 | Mexico Government International Bond, 6.875%, 05/13/2037 | 5975886 | 0.1 |
| 1940000 <sup>(2)</sup> | Mexico Government International Bond, 7.375%, 05/13/2055 | 2140790 | 0.0 |
| 1200000 | Panama Government International Bond, 3.298%, 01/19/2033 | 1038150 | 0.0 |
| 2760000 (2) | Panama Government International Bond, 7.500%, 03/01/2031 | 3052560 | 0.0 |
| 3610000 | Panama Government International Bond, 8.000%, 03/01/2038 | 4128938 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
| 5125000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.100%, 11/19/2036 | $5356906 | 0.1 |
| 2475000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.950%, 11/19/2054 | 2518894 | 0.0 |
| 2800000 <sup>(2)</sup> | Republic of South Africa Government International Bond 10Y, 5.875%, 04/20/2032 | 2833656 | 0.0 |
| 6258000 <sup>(1)</sup> | Romanian Government International Bond, 5.750%, 03/24/2035 | 6042881 | 0.1 |
| 334404 <sup>(1)(9)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 176398 | 0.0 |
| 1249625 <sup>(1)(9)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2034 | 520157 | 0.0 |
| 1056019 <sup>(1)(9)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2035 | 514809 | 0.0 |
| 880015 <sup>(1)(9)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2036 | 428127 | 0.0 |
| 1163381 <sup>(1)(9)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2029 | 796916 | 0.0 |
| 2324212 <sup>(1)(9)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2034 | 1305045 | 0.0 |
| 2033233 <sup>(1)(9)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2035 | 1123361 | 0.0 |
| 601039 <sup>(1)(9)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2036 | 327566 | 0.0 |
|  | Total Sovereign Bonds |  |  |
|  | (Cost $182,614,708) | **206889129** | **2.1** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** |  |  |
|  | Total Purchased Options |  |  |
|  | (Cost $571,980) | $203598 | 0.0 |
|  | Total Long-Term Investments |  |  |
|  | (Cost $9,297,028,388) | **9206853458** | **92.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: 16.9%** | **SHORT-TERM INVESTMENTS: 16.9%** | **SHORT-TERM INVESTMENTS: 16.9%** | **SHORT-TERM INVESTMENTS: 16.9%** |
|  | **Commercial Paper: 11.9%** |  |  |
| 8550000 | American Honda Finance Corp., 4.400%, 11/10/2025 | 8507970 | 0.1 |
| 38500000 | AutoZone, Inc., 4.230%, 10/01/2025 | 38495534 | 0.4 |
| 28500000 | AutoZone, Inc., 4.270%, 10/07/2025 | 28476670 | 0.3 |
| 4900000 <sup>(11)</sup> | Bank of Nova Scotia, 4.330%, 03/03/2026 | 4900959 | 0.0 |
| 4950000 <sup>(11)</sup> | Commonwealth Bank of Australia, 4.530%, 02/25/2026 | 4950221 | 0.0 |
| 128472000 | Concord Minutemen Capital Co. LLC, 4.180%, 10/01/2025 | 128457290 | 1.3 |
| 10000000 | Consolidated Edison, Inc., 4.330%, 10/10/2025 | 9988145 | 0.1 |
| 5200000 <sup>(11)</sup> | DNB Bank ASA, 4.540%, 12/09/2025 | 5202449 | 0.1 |
| 10000000 | Dominion Energy, Inc., 4.350%, 10/22/2025 | 9973850 | 0.1 |
| 53225000 | Dominion Resources, Inc., 4.330%, 10/15/2025 | 53130504 | 0.6 |
| 22000000 | Duke Energy, 4.280%, 10/22/2025 | 21943440 | 0.2 |
| 16475000 | Duke Energy Co., 4.210%, 10/03/2025 | 16469306 | 0.2 |
| 15000000 | Duke Energy Co., 4.270%, 10/20/2025 | 14964968 | 0.2 |
| 13460000 | Duke Energy Co., 4.280%, 11/19/2025 | 13381484 | 0.2 |
| 4000000 | EIDP, Inc., 4.310%, 12/10/2025 | 3966748 | 0.1 |
| 10000000 | EIDP, Inc., 4.320%, 12/12/2025 | 9914326 | 0.1 |
| 10000000 | EIDP, Inc., 4.370%, 10/20/2025 | 9976119 | 0.1 |
| 46050000 | Enbridge (US) Inc., 4.300%, 10/03/2025 | 46033740 | 0.5 |
| 580000 | Enbridge (US) Inc., 4.330%, 10/08/2025 | 579451 | 0.0 |
| 21000000 | Enbridge (US) Inc., 4.370%, 10/24/2025 | 20939833 | 0.2 |
| 10000000 | Entergy Corp., 4.270%, 10/01/2025 | 9998829 | 0.1 |
| 16000000 | Entergy Corp., 4.350%, 12/10/2025 | 15865720 | 0.2 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Commercial Paper (continued)** | | |
| 4000000 | Entergy Corp., 4.350%, 12/11/2025 | $3965968 | 0.1 |
| 50000000 | Enterprise Products Operating LLC, 4.290%, 10/02/2025 | 49988245 | 0.5 |
| 4950000 <sup>(11)</sup> | Federation des Caisses Desjardins du Quebec, 4.420%, 10/23/2025 | 4936907 | 0.0 |
| 40000000 | Fiserv, Inc., 4.350%, 10/09/2025 | 39957120 | 0.4 |
| 22650000 | Fiserv, Inc., 4.360%, 10/10/2025 | 22622997 | 0.2 |
| 3300000 <sup>(11)</sup> | ING US Funding LLC, 4.540%, 11/10/2025 | 3300322 | 0.0 |
| 19725000 | Kellanova, 4.370%, 10/24/2025 | 19668486 | 0.2 |
| 3450000 <sup>(11)</sup> | LLoyds Bank PLC, 4.440%, 12/02/2025 | 3425403 | 0.0 |
| 1450000 <sup>(11)</sup> | LLoyds Bank PLC, 4.570%, 12/17/2025 | 1450267 | 0.0 |
| 70000000 | McCormick & Co., Inc., 4.290%, 10/10/2025 | 69917743 | 0.7 |
| 52000000 | McCormick & Co., Inc., 4.340%, 10/14/2025 | 51913633 | 0.5 |
| 43200000 | Medtronic Global Holdings SCA, 4.270%, 10/03/2025 | 43184832 | 0.4 |
| 2247000 | Mondelez International, Inc., 4.290%, 10/02/2025 | 2246472 | 0.0 |
| 10000000 | Mondelez International, Inc., 4.290%, 10/14/2025 | 9983566 | 0.1 |
| 14050000 | Mondelez International, Inc., 4.310%, 10/09/2025 | 14035070 | 0.2 |
| 2000000 | Mondelez International, Inc., 4.320%, 10/06/2025 | 1998582 | 0.0 |
| 28000000 | Mondelez International, Inc., 4.330%, 11/17/2025 | 27841556 | 0.3 |
| 4800000 <sup>(11)</sup> | National Australia Bank Ltd., 4.320%, 03/06/2026 | 4800168 | 0.0 |
| 4900000 <sup>(11)</sup> | National Bank of Canada, 4.650%, 02/04/2026 | 4902500 | 0.0 |
| 50000000 | Oracle Corp., 4.230%, 01/16/2026 | 49381300 | 0.5 |
| 25400000 | Oracle Corp., 4.240%, 01/15/2026 | 25088477 | 0.3 |
| 2725000 | Parker-Hannifin Corp., 4.320%, 10/07/2025 | 2722743 | 0.0 |
| 10000000 | Parker-Hannifin Corp., 4.370%, 11/18/2025 | 9941667 | 0.1 |
| 25000000 | Parker-Hannifin Corp., 4.380%, 11/03/2025 | 24898503 | 0.3 |
| 15000000 | Parker-Hannifin Corp., 4.380%, 11/04/2025 | 14937317 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** |
| 5000000 <sup>(11)</sup> | Royal Bank of Canada, 4.320%, 03/10/2026 | $5000322 | 0.1 |
| 24025000 | Sherwin-Williams Co. (The), 4.270%, 10/08/2025 | 24002517 | 0.3 |
| 35000000 | Sherwin-Williams Co. (The), 4.290%, 10/16/2025 | 34934354 | 0.4 |
| 4950000 <sup>(11)</sup> | Skandinaviska Enskilda Banken AB, 4.570%, 12/11/2025 | 4950751 | 0 |
| 4750000 <sup>(11)</sup> | Societe Generale S.A., 4.650%, 10/24/2025 | 4750652 | 0 |
| 4750000 <sup>(11)</sup> | Sumitomo Mitsui Trust Bank Ltd., 4.350%, 10/03/2025 | 4748400 | 0 |
| 4850000 <sup>(11)</sup> | Svenska Handelsbanken AB, 4.320%, 03/23/2026 | 4855234 | 0 |
| 4950000 <sup>(11)</sup> | Swedbank AB, 4.580%, 12/10/2025 | 4952823 | 0 |
| 5000000 <sup>(11)</sup> | TotalEnergies Capital S.A., 4.380%, 01/20/2026 | 4937498 | 0 |
| 101000000 | Volkswagen Group of America Finance LLC, 4.290%, 10/15/2025 | 100822371 | 1 |
|  | Total Commercial Paper |  |  |
|  | (Cost $1,177,271,284) | **1177182322** | **11.9** |
|  | **Certificates of Deposits: 0.9%** |  |  |
| 5000000 <sup>(11)</sup> | Bank of America N.A., 4.540%, 02/09/2026 | 5004786 | 0.1 |
| 5000000 <sup>(11)</sup> | Bank of Montreal, 4.330%, 03/09/2026 | 4999914 | 0.1 |
| 1800000 <sup>(11)</sup> | Barclays Bank PLC, 4.694%, 10/21/2025 | 1800250 | 0 |
| 3050000 <sup>(3)(11)</sup> | Barclays Bank PLC, 4.703%, (SOFRRATE + 0.400%), 12/09/2025 | 3051622 | 0 |
| 1000000 <sup>(11)</sup> | BNP Paribas S.A., 4.340%, 03/16/2026 | 1001053 | 0 |
| 3900000 <sup>(11)</sup> | BNP Paribas S.A., 4.556%, 02/26/2026 | 3903604 | 0 |
| 4850000 <sup>(11)</sup> | Canadian Imperial Bank of Commerce, 4.502%, 11/12/2025 | 4851518 | 0.1 |
| 3600000 <sup>(11)</sup> | Citibank N.A., 4.668%, 10/23/2025 | 3600939 | 0 |
| 500000 <sup>(11)</sup> | Cooperatieve Rabobank U.A., 4.492%, 12/04/2025 | 500215 | 0 |
| 650000 <sup>(11)</sup> | Credit Agricole Corporate and Investment Bank, 4.638%, 10/14/2025 | 650102 | 0 |
| 5050000 <sup>(11)</sup> | Credit Industriel et Commercial S.A., 4.330%, 03/16/2026 | 5055419 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Certificates of Deposits (continued)** | **Certificates of Deposits (continued)** | **Certificates of Deposits (continued)** |
| 4600000 <sup>(3)(11)</sup> | Deutsche Bank AG/ New York NY, 4.719%, (SOFRRATE + 0.390%), 11/21/2025 | $4601370 | 0.0 |
| 2800000 <sup>(11)</sup> | DZ Bank AG, 4.540%, 02/13/2026 | 2800409 | 0.0 |
| 3200000 <sup>(11)</sup> | HSBC BANK USA N.A., 4.700%, 10/16/2025 | 3200293 | 0.0 |
| 1400000 <sup>(11)</sup> | Landesbank Baden-Wurttemberg, 4.330%, 03/11/2026 | 1401470 | 0.0 |
| 3500000 <sup>(11)</sup> | Landesbank Baden-Wurttemberg, 4.530%, 11/17/2025 | 3500681 | 0.0 |
| 4950000 <sup>(11)</sup> | Landesbank Hessen Thueringen Girozentrale, 4.390%, 01/21/2026 | 4954999 | 0.1 |
| 1400000 <sup>(11)</sup> | Mitsubishi UFJ Trust & Banking Corp., 4.350%, 03/04/2026 | 1401450 | 0.0 |
| 1200000 <sup>(11)</sup> | Mitsubishi UFJ Trust & Banking Corp., 4.360%, 03/25/2026 | 1201422 | 0.0 |
| 1600000 <sup>(11)</sup> | Mitsubishi UFJ Trust & Banking Corp., 4.460%, 03/11/2026 | 1600898 | 0.0 |
| 4000000 <sup>(3)(11)</sup> | Mizuho Bank Ltd., 4.420%, (SOFRRATE + 0.250%), 01/27/2026 | 4001310 | 0.0 |
| 900000 <sup>(11)</sup> | Mizuho Bank Ltd., 4.570%, 03/03/2026 | 900171 | 0.0 |
| 700000 <sup>(11)</sup> | MUFG Bank Ltd., 4.350%, 03/16/2026 | 700791 | 0.0 |
| 4950000 <sup>(3)(11)</sup> | Natixis S.A., 4.475%, (SOFRRATE + 0.200%), 03/09/2026 | 4955152 | 0.1 |
| 3200000 <sup>(3)(11)</sup> | Oversea-Chinese Banking Corporation Ltd., 4.527%, (SOFRRATE + 0.200%), 02/13/2026 | 3200012 | 0.0 |
| 1750000 <sup>(11)</sup> | Oversea-Chinese Banking Corporation Ltd., 4.543%, 11/14/2025 | 1750619 | 0.0 |
| 5000000 <sup>(3)(11)</sup> | Standard Chartered Bank, 4.541%, (SOFRRATE + 0.260%), 02/06/2026 | 5000011 | 0.1 |
| 5000000 <sup>(11)</sup> | Sumitomo Mitsui Banking Corp., 4.350%, 03/06/2026 | 5000930 | 0.1 |
| 5050000 <sup>(11)</sup> | Toronto-Dominion Bank, 4.560%, 02/19/2026 | 5055072 | 0.1 |
|  | Total Certificates of Deposits |  |  |
|  | (Cost $89,646,482) | **89646482** | **0.9** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount**† | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements: 4.1%** | **Repurchase Agreements: 4.1%** | **Repurchase Agreements: 4.1%** |
| 18434516 <sup>(11)</sup> | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2025, 4.270%, due 10/01/2025 (Repurchase Amount $18,436,673, collateralized by various U.S. Government Agency Obligations, 3.000%-7.500%, Market Value plus accrued interest $18,803,206, due 09/20/39-07/15/59) | $18434516 | 0.2 |
| 55406286 <sup>(11)</sup> | Bethesda Securities, Repurchase Agreement dated 09/30/2025, 4.270%, due 10/01/2025 (Repurchase Amount $55,412,768, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.980%-5.140%, Market Value plus accrued interest $56,514,412, due 10/01/27-09/01/55) | 55406286 | 0.6 |
| 105000000 <sup>(11)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $105,012,111, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $107,101,282, due 08/27/27-09/01/55) | 105000000 | 1.1 |
| 5626192 <sup>(11)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $5,626,841, collateralized by various U.S. Government Securities, 0.000%-4.000%, Market Value plus accrued interest $5,738,716, due 07/15/26-08/15/54) | 5626192 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 10600047 <sup>(11)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $10,601,267, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $10,812,048, due 12/31/31-05/31/32) | $10600047 | 0.1 |
| 50633987 <sup>(11)</sup> | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2025, 4.270%, due 10/01/2025 (Repurchase Amount $50,639,910, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-5.500%, Market Value plus accrued interest $51,646,667, due 12/01/29-03/01/55) | 50633987 | 0.5 |
| 14288895 <sup>(11)</sup> | Mirae Asset Securities (USA), Inc., Repurchase Agreement dated 09/30/2025, 4.290%, due 10/01/2025 (Repurchase Amount $14,290,574, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.719%, Market Value plus accrued interest $14,576,417, due 03/08/27-10/01/55) | 14288895 | 0.1 |
| 14655208 <sup>(11)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $14,656,890, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $14,948,313, due 11/18/25-08/15/55) | 14655208 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 4716926 <sup>(11)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $4,717,467, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $4,811,265, due 10/23/25-08/15/55) | $4716926 | 0.0 |
| 130613521 <sup>(11)</sup> | State of Wisconsin Investment Board, Repurchase Agreement dated 09/30/2025, 4.290%, due 10/01/2025 (Repurchase Amount $130,628,873, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $132,981,391, due 10/15/26-02/15/54) | 130613521 | 1.3 |
|  | Total Repurchase Agreements (Cost $409,975,578) | **409975578** | **4.1** |
|  | Total Short-Term Investments (Cost $1,676,893,344) | **1676804382** | **16.9** |
|  | **Total Investments in Securities (Cost $10,973,921,732)** | $**10883657840** | **109.5** |
|  | **Liabilities in Excess of Other Assets** | **(945955249)** | **(9.5)** |
|  | **Net Assets** | $**9937702591** | **100.0** |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

† Unless
 otherwise indicated, principal amount is shown in USD.

(1) Securities
 with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule
 except to qualified institutional buyers.

(2) Security,
 or a portion of the security, is on loan.

(3) Variable
 rate security. Rate shown is the rate in effect as of September 30, 2025.

(4) The
 Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage
 Association into conservatorship with FHFA as the conservator. As such,
 the FHFA oversees the continuing affairs of these companies.

(5) Represents
 or includes a TBA transaction.

(6) Interest
 only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount
 shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value
 of the interest only security.

(7) Principal
 only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments
 of interest on the pool are passed through the principal only security.

(8) Represents
 a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2025.

(9) Step-up
 bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect
 the current and next coupon rate as of September 30, 2025.

(10) The
 tables within the Portfolio of Investments detail open purchased options which are non-income producing securities.

(11) All or
 a portion of the security represents securities purchased with cash collateral received for securities on loan.

Currency Abbreviations:

BRL Brazilian Real <br> EUR EU Euro

---

| | |
|:---|:---|
| Reference Rate Abbreviations: | Reference Rate Abbreviations: |
| 12MTA | 12-month Treasury Average |
| RFUCCT1Y | FTSE USD IBOR Consumer Cash Fallbacks Term 1Y |
| SOFR30A | 30-day Secured Overnight Financing Rate |
| SOFRRATE | 1-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
| US0001M | 1-month LIBOR |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $2627277494 | $— | $2627277494 |
| U.S. Government Agency Obligations |  | 1496636653 |  | 1496636653 |
| Collateralized Mortgage Obligations |  | 1443636844 |  | 1443636844 |
| Asset-Backed Securities |  | 1232492456 |  | 1232492456 |
| U.S. Treasury Obligations |  | 1194193436 |  | 1194193436 |
| Commercial Mortgage-Backed Securities |  | 1005523848 |  | 1005523848 |
| Sovereign Bonds |  | 206889129 |  | 206889129 |
| Purchased Options |  | 203598 |  | 203598 |
| Short-Term Investments |  | 1676804382 |  | 1676804382 |
| Total Investments, at fair value | $— | $10883657840 | $— | $10883657840 |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Credit Default Swaps |  | 117478 |  | 117478 |
| Centrally Cleared Interest Rate Swaps |  | 301188 |  | 301188 |
| Forward Foreign Currency Contracts |  | 6990 |  | 6990 |
| Forward Premium Swaptions |  | 4977537 |  | 4977537 |
| Futures | 13992978 |  |  | 13992978 |
| Total Assets | $13992978 | $10889061033 | $— | $10903054011 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Interest Rate Swaps | $— | $(528826) | $— | $(528826) |
| Forward Foreign Currency Contracts |  | (14761653) |  | (14761653) |
| Forward Premium Swaptions |  | (4177970) |  | (4177970) |
| Futures | (3251019) |  |  | (3251019) |
| Written Options |  | (465087) |  | (465087) |
| Total Liabilities | $(3251019) | $(19933536) | $— | $(23184555) |

---

---

| | |
|:---|:---|
| <sup>^</sup> | See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information. |
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following forward foreign currency contracts were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | <br>**Counterparty** | <br>**Settlement Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 98355048 | BRL | 612211000 | Goldman Sachs International | 01/05/26 | $(14075953) |
| BRL | 1389452 | USD | 251703 | Morgan Stanley Capital Services LLC | 11/07/25 | 6990 |
| USD | 17303482 | MXN | 324319665 | Morgan Stanley Capital Services LLC | 11/07/25 | (334885) |
| EUR | 151275 | USD | 179693 | Standard Chartered Bank | 10/31/25 | (1755) |
| USD | 17289307 | MXN | 324319666 | Standard Chartered Bank | 11/07/25 | (349060) |
|  |  |  |  |  |  | $(14754663) |

---

At September 30, 2025, the following futures contracts were outstanding for Voya Intermediate Bond Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** |<br>**Number**<br>**of Contracts** |<br>**Expiration**<br>**Date** |<br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| <u>Long Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | &nbsp;&nbsp;&nbsp;&nbsp;233 | 12/31/25 | $48556836 | $(42252) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | 7471 | 12/19/25 | 840487500 | (3208767) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 3269 | 12/19/25 | 381144969 | 5754261 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 5960 | 12/19/25 | 715572500 | 7218985 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** |<br>**Number**<br>**of Contracts** | <br>**Expiration**<br>**Date** |<br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
|  |  |  | $1985761805 | $9722227 |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | &nbsp;&nbsp;&nbsp;&nbsp;(506) | 12/31/25 | $(55252828) | $81935 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (1767) | 12/19/25 | (203343047) | 937797 |
|  |  |  | $(258595875) | $1019732 |

---

At September 30, 2025, the following centrally cleared credit default swaps were outstanding for Voya Intermediate Bond Fund:

**Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection<sup>(1)</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Notional** | **Notional** | | |
| <br>**Reference Entity/Obligation** | <br>**Buy/Sell**<br>**Protection** | **(Pay)/**<br>**Receive**<br>**Financing**<br>**Rate (%)<sup>(2)</sup>** | <br>**Termination**<br>**Date** | **Amount<sup>(3)</sup>** | **Amount<sup>(3)</sup>** |<br>**Fair**<br>**Value<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| CDX.North American Index High Yield Series, 45, Version 1 | Sell | 5.000 | 12/20/30 | USD | 98941000 | $7641365 | $117478 |
|  |  |  |  |  |  | $7641365 | $117478 |

---

<sup>(1)</sup> If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will generally either i) Pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising the referenced index or ii) Pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

<sup>(2)</sup> Payments received quarterly.

<sup>(3)</sup> The maximum amount of future payments (undiscounted) that a Fund as seller of protection could be required to make or receive as a buyer of credit protection under a credit default swap agreement would be an amount equal to the notional amount of the agreement.

<sup>(4)</sup> The fair values for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. Increasing fair values, in absolute terms, when compared to the notional amount of the agreement, represent a deterioration of the referenced obligation's credit soundness and a greater likelihood or risk of default or other credit event occurring.

 

At September 30, 2025, the following centrally cleared interest rate swaps were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Pay/Receive**<br>**Floating Rate** | <br>**Floating Rate Index** | **Floating**<br>**Rate Index**<br>**Payment**<br>**Frequency** | <br>**Fixed**<br>**Rate** | <br>**Fixed Rate**<br>**Payment**<br>**Frequency** |<br>**Maturity**<br>**Date** | **Amount** | **Amount** |<br>**Fair**<br>**Value** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.933% | Annual | 05/05/45 | USD | 45486376 | $(182210) | $(182210) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.736 | Annual | 07/20/37 | USD | 6728700 | 45091 | 45091 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.932 | Annual | 07/20/37 | USD | 11904700 | (103991) | (103991) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.857 | Annual | 05/05/55 | USD | 17941848 | 256097 | 256097 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.444 | Annual | 08/16/44 | USD | 18336100 | (21911) | (21911) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.452 | Annual | 11/29/44 | USD | 18794500 | (25260) | (25260) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.699 | Annual | 05/05/35 | USD | 37842138 | (195454) | (195454) |
|  |  |  |  |  |  |  |  | $(227638) | $(227638) |

---

At September 30, 2025, the following OTC written credit default swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Reference Entity** | <br>**Exercise**<br>**Rate (%)** | **(Pay)/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Strike**<br>**Price** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br>**Premiums**<br>**Received** |<br>**Fair**<br>**Value** |
| Put on 5-Year Credit Default Swap | Goldman Sachs International | CDX North American High Yield, Series 44, Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 47506000 | $248267 | $(166766) |
| Put on 5-Year Credit Default Swap | Royal Bank of Canada | CDX North American High Yield, Series 44, Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 55885000 | 293396 | (196180) |
|  |  |  |  |  |  |  |  |  | $541663 | $(362946) |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

At September 30, 2025, the following OTC purchased interest rate swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br><br>**Cost** |<br><br>**Fair Value** |
| Call on 5-Year Interest Rate Swap<sup>(1)</sup> | Morgan Stanley Capital Services LLC | Receive | 2.500% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 102426000 | $571980 | $203598 |
|  |  |  |  |  |  |  |  | $571980 | $203598 |

---

At September 30, 2025, the following OTC written interest rate swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | **Pay/Receive**<br>**Exercise**<br>**Rate** | <br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br>**Premiums**<br>**Received** |<br>**Fair Value** |
| Call on 10-Year Interest Rate Swap<sup>(2)</sup> | Morgan Stanley Capital Services LLC | Pay | 2.300% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 51213000 | $421763 | $(102141) |
| Put on 2-Year Interest Rate Swap<sup>(1)</sup> | Mizuho Capital Markets LLC | Receive | 3.700% | 1-day Secured Overnight Financing Rate | 10/03/25 | USD | 128318000 | 206592 |  |
|  |  |  |  |  |  |  |  | $628355 | $(102141) |

---

At September 30, 2025, the following OTC purchased forward premium swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Call on 10-Year Interest Rate Swap | Bank of America N.A. | 4.103% | Receive | 1-day Secured Overnight Financing Rate | 07/16/27 | USD | 51759300 | $(2309759) | $308722 |
| Call on 10-Year Interest Rate Swap | Barclays Bank PLC | 2.355% | Receive | 1-day Secured Overnight Financing Rate | 11/27/34 | USD | 49756000 |  | 610312 |
| Call on 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 2.375% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 45840320 | (1925294) | (842066) |
| Call on 30-Year Interest Rate Swap | Barclays Bank PLC | 17.500% | Receive | 1-day Secured Overnight Financing Rate | 06/14/27 | USD | 39935000 | (6988625) | 816507 |
| Call on 30-Year Interest Rate Swap | Barclays Bank PLC | 17.700% | Receive | 1-day Secured Overnight Financing Rate | 05/28/27 | USD | 66490400 | (11768801) | 1263577 |
| Put on 10-Year Interest Rate Swap | Bank of America N.A. | 4.103% | Pay | 1-day Secured Overnight Financing Rate | 07/16/27 | USD | 51759300 | (2309759) | (836656) |
| Put on 30-Year Interest Rate Swap | Barclays Bank PLC | 18.000% | Pay | 1-day Secured Overnight Financing Rate | 05/25/27 | USD | 61700000 | (11106000) | 1006864 |
| Put on 30-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 4.650% | Pay | 1-day Secured Overnight Financing Rate | 08/30/27 | USD | 53684800 | (2503859) | (430083) |
|  |  |  |  |  |  |  |  | $(38912097) | $1897177 |

---

At September 30, 2025, the following OTC written forward premium swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.160% | Pay | 1-day Secured Overnight Financing Rate | 09/23/27 | USD | 268424000 | $1253540 | $72606 |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 2.500% | Pay | 1-day Secured Overnight Financing Rate | 09/25/26 | USD | 529540000 | 614267 | (19700) |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 2.000% | Pay | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | 529545000 | 556022 | 271805 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.133% | Pay | 1-day Secured Overnight Financing Rate | 08/27/27 | USD | 134212000 | 669383 | 97884 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.170% | Pay | 1-day Secured Overnight Financing Rate | 08/23/27 | USD | 134212000 | 679448 | 85128 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Pay | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 268425000 | 1335414 | 51789 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Pay | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 134212000 | 671060 | 29046 |
| Put on 10-Year Interest Rate Swap | Barclays Bank PLC | 5.355% | Receive | 1-day Secured Overnight Financing Rate | 11/27/34 | USD | 49756000 | 900584 | (1291538) |
| Put on 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 5.540% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 45840320 | 1925294 | (235960) |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Put on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.160% | Receive | 1-day Secured Overnight Financing Rate | 09/23/27 | USD | 268424000 | $1253540 | $(96350) |
| Put on 1-Year Interest Rate Swap | Goldman Sachs International | 2.150% | Receive | 3-month EUR-EURIBOR | 07/21/26 | EUR | 512125000 | 733540 | 104444 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.600% | Receive | 1-day Secured Overnight Financing Rate | 08/30/27 | USD | 966326400 | 2754030 | (206487) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.133% | Receive | 1-day Secured Overnight Financing Rate | 08/27/27 | USD | 134212000 | 669382 | (6010) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.170% | Receive | 1-day Secured Overnight Financing Rate | 08/23/27 | USD | 134212000 | 679448 | 30284 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Receive | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 268425000 | 1335414 | 150278 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Receive | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 134212000 | 671060 | 78291 |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.631% | Receive | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | 529545000 | 503068 | (138144) |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.622% | Receive | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | 264770000 | 251532 | (74976) |
|  |  |  |  |  |  |  |  | $17456026 | $(1097610) |

---

<sup>(1)</sup> Fund pays the exercise rate semi-annually and receives the floating rate index quarterly.

<sup>(2)</sup> Fund receives the exercise rate semi-annually and pays the floating rate index quarterly.

<sup>(3)</sup> Forward premium swaption exercise rates represent the premium price on each respective swaption contract. Final exercise rate will be determined at the expiration of each respective swaption contract.

<sup>(4)</sup> Forward premium swaptions include premiums receivable/(payable) that have extended settlement dates. Premiums are not exchanged until the expiration date of each respective forward premium swaption contract.

Currency Abbreviations:

---

| | |
|:---|:---|
| BRL | &nbsp;&nbsp;Brazilian Real |
| EUR | &nbsp;&nbsp;EU Euro |
| MXN | &nbsp;&nbsp;Mexican Peso |
| USD | &nbsp;&nbsp;United States Dollar |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

---

| | | |
|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** | **Location on Statement**<br>**of Assets and Liabilities** |<br>**Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Interest rate contracts | Investments in securities at value <sup>\*</sup> | $203598 |
| Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 6990 |
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 4977537 |
| Interest rate contracts | Variation margin receivable on futures contracts <sup>\*\*</sup> | 13992978 |
| Credit contracts | Variation margin receivable on centrally cleared swaps <sup>\*\*</sup> | 117478 |
| Interest rate contracts | Variation margin receivable on centrally cleared swaps <sup>\*\*</sup> | 301188 |
| **Total Asset Derivatives** |  | $19599769 |
| **<u>Liability Derivatives</u>** |  |  |
| Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $14761653 |
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | 4177970 |
| Interest rate contracts | Variation margin payable on futures contracts <sup>\*\*</sup> | 3251019 |
| Interest rate contracts | Variation margin payable on centrally cleared swaps <sup>\*\*</sup> | 528826 |
| Credit contracts | Written options, at fair value | 362946 |
| Interest rate contracts | Written options, at fair value | 102141 |
| **Total Liability Derivatives** |  | $23184555 |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

\* Includes purchased options.

\*\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and centrally cleared swaps and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging**<br>**Instruments** |<br><br>**Investments<sup>\*</sup>** | **Forward**<br>**foreign**<br>**currency**<br>**contracts** |<br><br>**Futures** |<br><br>**Swaps** |<br>**Written**<br>**options** |<br><br>**Total** |
| Credit contracts | $— | $— | $— | $2487216 | $— | $2487216 |
| Foreign exchange contracts |  | (5145558) |  |  |  | (5145558) |
| Interest rate contracts | 1546723 |  | (6432886) | 1104462 | 7756062 | 3974361 |
| **Total** | $1546723 | $(5145558) | $(6432886) | $3591678 | $7756062 | $1316019 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging**<br>**instruments** |<br><br>**Investments<sup>\*</sup>** | **Forward**<br>**foreign**<br>**currency**<br>**contracts** |<br><br>**Futures** |<br><br>**Swaps** |<br>**Written**<br>**options** |<br><br>**Total** |
| Credit contracts | $— | $— | $— | $(618000) | $175456 | $(442544) |
| Foreign exchange contracts |  | (13680515) |  |  |  | (13680515) |
| Interest rate contracts | (5346787) |  | (1160035) | (930145) | 1656901 | (5780066) |
| **Total** | $(5346787) | $(13680515) | $(1160035) | $(1548145) | $1832357 | $(19903125) |

---

<sup>\*</sup> Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments.

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at September 30, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |<br>**Bank of**<br>**America N.A.** |<br>**Barclays Bank**<br>**PLC** |<br>**Deutsche**<br>**Bank AG** |<br>**Goldman**<br>**Sachs**<br>**International** |<br>**JPMorgan**<br>**Chase Bank**<br>**N.A.** | **Morgan**<br>**Stanley**<br>**Capital**<br>**Services LLC** | **Nomura**<br>**Global**<br>**Financial**<br>**Products Inc.** |<br>**Royal Bank of**<br>**Canada** |<br>**Standard**<br>**Chartered**<br>**Bank** |<br><br>**Total** |
| **Assets:** |  |  |  |  |  |  |  |  |  |  |
| Purchased options | $— | $— | $— | $— | $— | $203598 | $— | $— | $— | $203598 |
| Forward foreign currency contracts |  |  |  |  |  | 6990 |  |  |  | 6990 |
| Forward premium swaptions | 308722 | 3697260 | 344411 | 104444 | 522700 |  |  |  |  | 4977537 |
| **Total Assets** | $308722 | $3697260 | $344411 | $104444 | $522700 | $210588 | $— | $— | $— | $5188125 |
| **Liabilities:** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency contracts | $— | $— | $— | $14075953 | $— | $334885 | $— | $— | $350815 | $14761653 |
| Forward premium swaptions | 836656 | 1291538 | 116050 |  | 1720606 |  | 213120 |  |  | 4177970 |
| Written options |  |  |  | 166766 |  | 102141 |  | 196180 |  | 465087 |
| **Total Liabilities** | $836656 | $1291538 | $116050 | $14242719 | $1720606 | $437026 | $213120 | $196180 | $350815 | $19404710 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(527934) | $2405722 | $228361 | $(14138275) | $(1197906) | $(226438) | $(213120) | $(196180) | $(350815) | $(14216585) |
| **Total collateral pledged by the Fund/ (Received from counterparty)** | $420000 | $(2380000) | $— | $14030000 | $1197906 | $— | $213120 | $— | $330000 | $13811026 |
| **Net Exposure <sup>(1),(2)</sup>** | $(107934) | $25722 | $228361 | $(108275) | $— | $(226438) | $— | $(196180) | $(20815) | $(405559) |

---

See Accompanying Notes to Financial Statements

<u>Voya Intermediate Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

<sup>(1)</sup> Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features.

<sup>(2)</sup> At September 30, 2025, the Fund had pledged $420,000, $14,030,000, $1,410,000, $350,000 and $330,000 to Bank of America N.A., Goldman Sachs International, JPMorgan Chase Bank N.A., Nomura Global Financial Products Inc. and Standard Chartered Bank, respectively. In addition, the Fund had received $2,380,000 from Barclays Bank PLC. Excess cash collateral is not shown for financial reporting purposes.

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $11,064,089,004.

---

| | |
|:---|:---|
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $130513171 |
| Gross Unrealized Depreciation | (276606922) |
| Net Unrealized Depreciation | $(146093751) |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: 47.5%** | **CORPORATE BONDS/NOTES: 47.5%** |  |  |
|  | **Basic Materials: 2.2%** | **Basic Materials: 2.2%** | **Basic Materials: 2.2%** |
| 757000 | Air Products and Chemicals, Inc., 4.300%, 06/11/2028 | $764122 | 0.2 |
| 253000 <sup>(1)</sup> | Albemarle Corp., 4.650%, 06/01/2027 | 253378 | 0.1 |
| 186000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2026 | 188310 | 0.0 |
| 800000 | Celanese US Holdings LLC, 6.665%, 07/15/2027 | 821189 | 0.2 |
| 595000 <sup>(2)</sup> | Chemours Co., 5.750%, 11/15/2028 | 580898 | 0.2 |
| 600000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 5.875%, 06/01/2027 | 600364 | 0.2 |
| 188000 | Eastman Chemical Co., 5.000%, 08/01/2029 | 191540 | 0.1 |
| 132000 | Ecolab, Inc., 1.650%, 02/01/2027 | 128167 | 0.0 |
| 189000 | Ecolab, Inc., 4.300%, 06/15/2028 | 190572 | 0.1 |
| 417000 | EIDP, Inc., 4.500%, 05/15/2026 | 417797 | 0.1 |
| 800000 <sup>(2)</sup> | Hudbay Minerals, Inc., 4.500%, 04/01/2026 | 798079 | 0.2 |
| 1200000 <sup>(2)</sup> | NOVA Chemicals Corp., 5.250%, 06/01/2027 | 1204444 | 0.3 |
| 186000 | Nucor Corp., 4.650%, 06/01/2030 | 189000 | 0.0 |
| 65000 | Nutrien Ltd., 4.900%, 03/27/2028 | 66165 | 0.0 |
| 1098000 | Nutrien Ltd., 5.950%, 11/07/2025 | 1099288 | 0.3 |
| 311000 | Rio Tinto Finance USA PLC, 4.500%, 03/14/2028 | 314516 | 0.1 |
| 176000 | Rio Tinto Finance USA PLC, 4.875%, 03/14/2030 | 180403 | 0.0 |
| 191000 | Sherwin-Williams Co., 4.300%, 08/15/2028 | 192013 | 0.1 |
| 127000 | Sherwin-Williams Co., 4.500%, 08/15/2030 | 127894 | 0.0 |
|  |  | **8308139** | **2.2** |
|  | **Communications: 3.5%** | **Communications: 3.5%** | **Communications: 3.5%** |
| 147000 | Alphabet, Inc., 1.100%, 08/15/2030 | 128794 | 0.0 |
| 210000 | AppLovin Corp., 5.125%, 12/01/2029 | 214884 | 0.1 |
| 513000 | AT&T, Inc., 1.700%, 03/25/2026 | 507046 | 0.1 |
| 800000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 799567 | 0.2 |
| 126000 | Cisco Systems, Inc., 4.550%, 02/24/2028 | 127969 | 0.0 |
| 552000 | Cisco Systems, Inc., 4.750%, 02/24/2030 | 566610 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 315000 | Comcast Corp., 4.550%, 01/15/2029 | $| 319174 | 0.1 |
| 328000 <sup>(2)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 |  | 327880 | 0.1 |
| 800000 <sup>(2)</sup> | Match Group Holdings II LLC, 5.000%, 12/15/2027 |  | 798397 | 0.2 |
| 316000 | Meta Platforms, Inc., 4.300%, 08/15/2029 |  | 320139 | 0.1 |
| 1497000 <sup>(2)</sup> | NBN Co. Ltd., 1.450%, 05/05/2026 |  | 1472910 | 0.4 |
| 349000 <sup>(2)</sup> | NBN Co. Ltd., 5.750%, 10/06/2028 |  | 365193 | 0.1 |
| 500000 <sup>(1)(2)</sup> | Nexstar Media, Inc., 4.750%, 11/01/2028 |  | 488436 | 0.1 |
| 1024000 <sup>(2)</sup> | NTT Finance Corp., 4.567%, 07/16/2027 |  | 1031529 | 0.3 |
| 957000 <sup>(2)</sup> | NTT Finance Corp., 4.620%, 07/16/2028 |  | 966617 | 0.2 |
| 800000 <sup>(2)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 5.000%, 08/15/2027 |  | 796620 | 0.2 |
| 251000 | Rogers Communications, Inc., 5.000%, 02/15/2029 |  | 255849 | 0.1 |
| 600000 <sup>(2)</sup> | Sirius XM Radio, Inc., 3.125%, 09/01/2026 |  | 592306 | 0.2 |
| 1147000 | Sprint Capital Corp., 6.875%, 11/15/2028 |  | 1233993 | 0.3 |
| 269000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 |  | 256506 | 0.1 |
| 429000 | T-Mobile USA, Inc., 2.250%, 02/15/2026 |  | 425685 | 0.1 |
| 249000 | T-Mobile USA, Inc., 2.625%, 04/15/2026 |  | 247012 | 0.1 |
| 327000 | T-Mobile USA, Inc., 3.375%, 04/15/2029 |  | 317561 | 0.1 |
| 291000 | T-Mobile USA, Inc., 4.950%, 03/15/2028 |  | 296638 | 0.1 |
| 395000 | Uber Technologies, Inc., 4.300%, 01/15/2030 |  | 396435 | 0.1 |
|  |  |  | **13253750** | **3.5** |
|  | **Consumer, Cyclical: 5.8%** | **Consumer, Cyclical: 5.8%** | **Consumer, Cyclical: 5.8%** | **Consumer, Cyclical: 5.8%** |
| 1950000 <sup>(2)</sup> | Alimentation Couche-Tard, Inc., 4.148%, 09/29/2028 |  | 1950706 | 0.5 |
| 14298 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 |  | 14026 | 0.0 |
| 225000 | American Honda Finance Corp., GMTN, 4.400%, 10/05/2026 |  | 225732 | 0.1 |
| 126000 | American Honda Finance Corp., GMTN, 4.450%, 10/22/2027 |  | 127123 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 195000 | American Honda Finance Corp., MTN, 1.300%, 09/09/2026 | $190233 | 0.0 |
| 66000 <sup>(2)</sup> | BMW US Capital LLC, 1.250%, 08/12/2026 | 64481 | 0.0 |
| 618000 <sup>(1)(2)</sup> | BMW US Capital LLC, 4.150%, 08/11/2027 | 618898 | 0.2 |
| 128000 <sup>(2)</sup> | BMW US Capital LLC, 4.500%, 08/11/2030 | 128230 | 0.0 |
| 502000 | BorgWarner, Inc., 4.950%, 08/15/2029 | 512768 | 0.1 |
| 410000 <sup>(2)</sup> | Daimler Truck Finance North America LLC, 5.000%, 01/15/2027 | 414419 | 0.1 |
| 245000 <sup>(2)</sup> | Denso Corp., 4.420%, 09/11/2029 | 246475 | 0.1 |
| 1032000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 1015327 | 0.3 |
| 300000 | Ford Motor Credit Co. LLC, 5.800%, 03/08/2029 | 304517 | 0.1 |
| 500000 | Ford Motor Credit Co. LLC, GMTN, 4.389%, 01/08/2026 | 499859 | 0.1 |
| 255000 | General Motors Financial Co., Inc., 4.350%, 01/17/2027 | 255356 | 0.1 |
| 123000 | General Motors Financial Co., Inc., 5.050%, 04/04/2028 | 125011 | 0.0 |
| 192000 | General Motors Financial Co., Inc., 5.250%, 03/01/2026 | 192324 | 0.1 |
| 415000 | General Motors Financial Co., Inc., 5.400%, 04/06/2026 | 417356 | 0.1 |
| 300000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 309892 | 0.1 |
| 250000 | Home Depot, Inc., 4.875%, 06/25/2027 | 254229 | 0.1 |
| 195000 | Honda Motor Co. Ltd., 2.534%, 03/10/2027 | 190852 | 0.1 |
| 127000 | Honda Motor Co. Ltd., 4.436%, 07/08/2028 | 127771 | 0.0 |
| 185000 | Hyatt Hotels Corp., 5.050%, 03/30/2028 | 188056 | 0.0 |
| 129000 <sup>(2)</sup> | Hyundai Capital America, 1.300%, 01/08/2026 | 127959 | 0.0 |
| 975000 <sup>(2)</sup> | Hyundai Capital America, 4.250%, 09/18/2028 | 973129 | 0.3 |
| 126000 <sup>(1)(2)</sup> | Hyundai Capital America, 5.650%, 06/26/2026 | 127199 | 0.0 |
| 262000 <sup>(2)</sup> | Hyundai Capital America, 5.950%, 09/21/2026 | 266215 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 493000 <sup>(2)</sup> | Hyundai Capital America, 6.250%, 11/03/2025 | $493735 | 0.1 |
| 128000 | Lowe's Cos., Inc., 3.350%, 04/01/2027 | 126807 | 0.0 |
| 1365000 <sup>(1)</sup> | Lowe's Cos., Inc., 4.000%, 10/15/2028 | 1362305 | 0.4 |
| 192000 | Marriott International, Inc., 4.200%, 07/15/2027 | 192666 | 0.1 |
| 510000 <sup>(2)</sup> | Mattel, Inc., 3.375%, 04/01/2026 | 506423 | 0.1 |
| 620000 | McDonald's Corp., 4.400%, 02/12/2031 | 622002 | 0.2 |
| 249000 <sup>(2)</sup> | Mercedes-Benz Finance North America LLC, 5.100%, 08/03/2028 | 255601 | 0.1 |
| 545000 | MGM Resorts International, 5.500%, 04/15/2027 | 548898 | 0.1 |
| 800000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 813409 | 0.2 |
| 192000 | PACCAR Financial Corp., 4.000%, 08/08/2028 | 192589 | 0.1 |
| 235000 | PACCAR Financial Corp., 4.000%, 09/26/2029 | 234991 | 0.1 |
| 1200000 <sup>(2)</sup> | Royal Caribbean Cruises Ltd., 4.250%, 07/01/2026 | 1199348 | 0.3 |
| 511000 | Toll Brothers Finance Corp., 4.350%, 02/15/2028 | 512635 | 0.1 |
| 124000 | Toyota Motor Credit Corp., 5.400%, 11/20/2026 | 126019 | 0.0 |
| 230000 | Toyota Motor Credit Corp., MTN, 4.350%, 10/08/2027 | 231993 | 0.1 |
| 186000 | Toyota Motor Credit Corp. B, 5.000%, 03/19/2027 | 189017 | 0.0 |
| 24339 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 25037 | 0.0 |
| 1200000 <sup>(2)</sup> | United Airlines, Inc., 4.375%, 04/15/2026 | 1199189 | 0.3 |
| 800000 <sup>(2)</sup> | Viking Cruises Ltd., 5.875%, 09/15/2027 | 800835 | 0.2 |
| 205000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.550%, 09/11/2028 | 205706 | 0.1 |
| 425000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.950%, 08/15/2029 | 429508 | 0.1 |
| 535000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 | 542320 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 500000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.650%, 09/12/2028 | $| 515864 | 0.1 |
| 385000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 |  | 413724 | 0.1 |
| 800000 <sup>(2)</sup> | William Carter Co., 5.625%, 03/15/2027 |  | 801557 | 0.2 |
|  |  |  | **22410321** | **5.8** |
|  | **Consumer, Non-cyclical: 6.6%** | **Consumer, Non-cyclical: 6.6%** | **Consumer, Non-cyclical: 6.6%** | **Consumer, Non-cyclical: 6.6%** |
| 192000 | AbbVie, Inc., 3.200%, 05/14/2026 |  | 191150 | 0.1 |
| 280000 | AbbVie, Inc., 3.200%, 11/21/2029 |  | 270210 | 0.1 |
| 491000 | AbbVie, Inc., 4.800%, 03/15/2029 |  | 502229 | 0.1 |
| 800000 <sup>(2)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 |  | 793938 | 0.2 |
| 193000 <sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 4.625%, 01/15/2027 |  | 192059 | 0.1 |
| 125000 | Amgen, Inc., 5.150%, 03/02/2028 |  | 127937 | 0.0 |
| 317000 | Astrazeneca Finance LLC, 4.800%, 02/26/2027 |  | 320706 | 0.1 |
| 800000 <sup>(2)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 |  | 799358 | 0.2 |
| 126000 | Becton Dickinson & Co., 4.693%, 02/13/2028 |  | 127612 | 0.0 |
| 126000 | Cardinal Health, Inc., 4.700%, 11/15/2026 |  | 126917 | 0.0 |
| 299000 | Cardinal Health, Inc., 5.000%, 11/15/2029 |  | 306701 | 0.1 |
| 62000 | Cardinal Health, Inc., 5.125%, 02/15/2029 |  | 63795 | 0.0 |
| 127000 <sup>(2)</sup> | Cargill, Inc., 3.625%, 04/22/2027 |  | 126470 | 0.0 |
| 370000 | Cigna Group, 1.250%, 03/15/2026 |  | 364931 | 0.1 |
| 388000 | Cigna Group, 2.375%, 03/15/2031 |  | 349187 | 0.1 |
| 460000 | Cigna Group, 4.500%, 09/15/2030 |  | 461512 | 0.1 |
| 127000 <sup>(2)</sup> | CSL Finance PLC, 3.850%, 04/27/2027 |  | 126669 | 0.0 |
| 368000 | CVS Health Corp., 5.400%, 06/01/2029 |  | 380623 | 0.1 |
| 398000 <sup>(2)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 |  | 405658 | 0.1 |
| 768000 | Eli Lilly & Co., 4.000%, 10/15/2028 |  | 769514 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 189000 | Eli Lilly & Co., 4.550%, 02/12/2028 | $191858 | 0.1 |
| 247000 | Eli Lilly & Co., 4.750%, 02/12/2030 | 253473 | 0.1 |
| 192000 <sup>(2)</sup> | EMD Finance LLC, 4.125%, 08/15/2028 | 192093 | 0.1 |
| 315000 | Equifax, Inc., 2.600%, 12/15/2025 | 313697 | 0.1 |
| 63000 <sup>(2)</sup> | ERAC USA Finance LLC, 5.000%, 02/15/2029 | 64639 | 0.0 |
| 800000 <sup>(2)</sup> | Garda World Security Corp., 4.625%, 02/15/2027 | 794650 | 0.2 |
| 933000 | GE HealthCare Technologies, Inc., 5.600%, 11/15/2025 | 933430 | 0.2 |
| 348000 | Gilead Sciences, Inc., 4.800%, 11/15/2029 | 357273 | 0.1 |
| 357000 | GlaxoSmithKline Capital, Inc., 4.500%, 04/15/2030 | 361460 | 0.1 |
| 130000 | Global Payments, Inc., 1.200%, 03/01/2026 | 128299 | 0.0 |
| 999000 | HCA, Inc., 5.875%, 02/15/2026 | 1000314 | 0.3 |
| 706000 | HCA, Inc., 5.875%, 02/01/2029 | 735199 | 0.2 |
| 552000 | Hershey Co., 4.750%, 02/24/2030 | 565533 | 0.1 |
| 496000 | Humana, Inc., 5.750%, 03/01/2028 | 511748 | 0.1 |
| 961000 <sup>(2)</sup> | Imperial Brands Finance PLC, 4.500%, 06/30/2028 | 967443 | 0.3 |
| 800000 <sup>(2)</sup> | IQVIA, Inc., 5.000%, 10/15/2026 | 799740 | 0.2 |
| 189000 | Johnson & Johnson, 4.550%, 03/01/2028 | 192786 | 0.1 |
| 285000 | Laboratory Corp. of America Holdings, 4.350%, 04/01/2030 | 285153 | 0.1 |
| 190000 <sup>(2)</sup> | Mars, Inc., 4.600%, 03/01/2028 | 192364 | 0.1 |
| 289000 <sup>(2)</sup> | Mars, Inc., 4.800%, 03/01/2030 | 294532 | 0.1 |
| 180000 | McKesson Corp., 4.250%, 09/15/2029 | 180822 | 0.0 |
| 355000 | Novartis Capital Corp., 3.800%, 09/18/2029 | 353562 | 0.1 |
| 510000 | PepsiCo, Inc., 4.100%, 01/15/2029 | 512023 | 0.1 |
| 190000 <sup>(1)</sup> | PepsiCo, Inc., 4.300%, 07/23/2030 | 191260 | 0.1 |
| 126000 | Philip Morris International, Inc., 4.125%, 04/28/2028 | 126262 | 0.0 |
| 267000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 272839 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 800000 <sup>(2)</sup> | Prime Security Services Borrower LLC / Prime Finance, Inc., 3.375%, 08/31/2027 | $| 778770 | 0.2 |
| 128000 | Quanta Services, Inc., 4.300%, 08/09/2028 |  | 128651 | 0.0 |
| 325000 | Quanta Services, Inc., 4.750%, 08/09/2027 |  | 328858 | 0.1 |
| 126000 | Quest Diagnostics, Inc., 4.600%, 12/15/2027 |  | 127591 | 0.0 |
| 185000 | RELX Capital, Inc., 4.750%, 03/27/2030 |  | 188896 | 0.0 |
| 201000 <sup>(2)</sup> | Rentokil Terminix Funding LLC, 5.000%, 04/28/2030 |  | 204892 | 0.1 |
| 365000 <sup>(2)</sup> | Roche Holdings, Inc., 5.338%, 11/13/2028 |  | 379271 | 0.1 |
| 197000 | S&P Global, Inc., 2.450%, 03/01/2027 |  | 193004 | 0.1 |
| 916000 | S&P Global, Inc., 2.700%, 03/01/2029 |  | 875384 | 0.2 |
| 247000 | Smith & Nephew PLC, 5.150%, 03/20/2027 |  | 250451 | 0.1 |
| 267000 | Solventum Corp., 5.400%, 03/01/2029 |  | 275597 | 0.1 |
| 254000 | Stryker Corp., 3.650%, 03/07/2028 |  | 251787 | 0.1 |
| 1290000 | Stryker Corp., 4.700%, 02/10/2028 |  | 1309092 | 0.3 |
| 800000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 |  | 799212 | 0.2 |
| 490000 | Tyson Foods, Inc., 5.400%, 03/15/2029 |  | 507009 | 0.1 |
| 194000 | UnitedHealth Group, Inc., 2.950%, 10/15/2027 |  | 190225 | 0.0 |
| 295000 | UnitedHealth Group, Inc., 4.800%, 01/15/2030 |  | 301450 | 0.1 |
| 523000 | Zimmer Biomet Holdings, Inc., 5.050%, 02/19/2030 |  | 537998 | 0.1 |
| 64000 | Zoetis, Inc., 4.150%, 08/17/2028 |  | 64230 | 0.0 |
|  |  |  | **25271996** | **6.6** |
|  | **Energy: 2.1%** | **Energy: 2.1%** | **Energy: 2.1%** | **Energy: 2.1%** |
| 197000 | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc., 2.061%, 12/15/2026 |  | 192371 | 0.1 |
| 191000 | Chevron USA, Inc., 4.050%, 08/13/2028 |  | 192013 | 0.1 |
| 389000 | Chevron USA, Inc., 4.300%, 10/15/2030 |  | 391311 | 0.1 |
| 190000 | Chevron USA, Inc., 4.475%, 02/26/2028 |  | 192705 | 0.1 |
| 744000 | Chevron USA, Inc., 4.687%, 04/15/2030 |  | 761772 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 249000 | Diamondback Energy, Inc., 5.150%, 01/30/2030 | $| 256552 | 0.1 |
| 124000 | Diamondback Energy, Inc., 5.200%, 04/18/2027 |  | 125833 | 0.0 |
| 600000 <sup>(2)</sup> | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 |  | 609754 | 0.2 |
| 189000 | Enbridge, Inc., 4.600%, 06/20/2028 |  | 191279 | 0.0 |
| 800000 <sup>(2)</sup> | Enerflex Ltd., 9.000%, 10/15/2027 |  | 817341 | 0.2 |
| 190000 | Enterprise Products Operating LLC, 4.300%, 06/20/2028 |  | 191514 | 0.0 |
| 131000 | Kinder Morgan, Inc., 1.750%, 11/15/2026 |  | 127633 | 0.0 |
| 555000 <sup>(2)</sup> | Northern Oil & Gas, Inc., 8.125%, 03/01/2028 |  | 564751 | 0.1 |
| 196000 | Occidental Petroleum Corp., 6.625%, 09/01/2030 |  | 210148 | 0.1 |
| 385000 | Ovintiv Exploration, Inc., 5.375%, 01/01/2026 |  | 385074 | 0.1 |
| 647000 | Pioneer Natural Resources Co., 1.125%, 01/15/2026 |  | 641150 | 0.2 |
| 1252000 | Plains All American Pipeline L.P. / PAA Finance Corp., 4.650%, 10/15/2025 |  | 1252010 | 0.3 |
| 800000 <sup>(2)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 |  | 828616 | 0.2 |
|  |  |  | **7931827** | **2.1** |
|  | **Financial: 15.9%** | **Financial: 15.9%** | **Financial: 15.9%** | **Financial: 15.9%** |
| 130000 | Aflac, Inc., 1.125%, 03/15/2026 |  | 128278 | 0.0 |
| 800000 <sup>(2)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 4.250%, 10/15/2027 |  | 787366 | 0.2 |
| 126000 <sup>(3)</sup> | American Express Co., 5.098%, 02/16/2028 |  | 127706 | 0.0 |
| 1160000 <sup>(3)</sup> | American Express Co., 5.389%, 07/28/2027 |  | 1171319 | 0.3 |
| 510000 <sup>(3)</sup> | American Express Co., 5.645%, 04/23/2027 |  | 514040 | 0.1 |
| 445000 | American Tower Corp., 3.650%, 03/15/2027 |  | 441871 | 0.1 |
| 62000 | American Tower Corp., 5.250%, 07/15/2028 |  | 63782 | 0.0 |
| 61000 | American Tower Corp., 5.500%, 03/15/2028 |  | 62886 | 0.0 |
| 190000 | Aon North America, Inc., 5.125%, 03/01/2027 |  | 192720 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 249000 | Aon North America, Inc., 5.150%, 03/01/2029 | $256302 | 0.1 |
| 482000 | Arthur J Gallagher & Co., 4.850%, 12/15/2029 | 492238 | 0.1 |
| 255000 <sup>(2)</sup> | Athene Global Funding, 5.684%, 02/23/2026 | 256190 | 0.1 |
| 1125000 <sup>(2)</sup> | Aviation Capital Group LLC, 5.125%, 04/10/2030 | 1143304 | 0.3 |
| 88000 <sup>(2)</sup> | Avolon Holdings Funding Ltd., 2.528%, 11/18/2027 | 84683 | 0.0 |
| 200000 <sup>(3)</sup> | Banco Santander SA, 5.538%, 03/14/2030 | 207228 | 0.1 |
| 400000 | Banco Santander SA, 5.588%, 08/08/2028 | 415835 | 0.1 |
| 196000 <sup>(3)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 192107 | 0.1 |
| 130000 <sup>(3)</sup> | Bank of America Corp., 3.419%, 12/20/2028 | 128039 | 0.0 |
| 255000 <sup>(3)</sup> | Bank of America Corp., 3.705%, 04/24/2028 | 253389 | 0.1 |
| 132000 <sup>(3)</sup> | Bank of America Corp., 4.376%, 04/27/2028 | 132497 | 0.0 |
| 128000 <sup>(3)</sup> | Bank of America Corp., MTN, 1.197%, 10/24/2026 | 127755 | 0.0 |
| 135000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 127899 | 0.0 |
| 197000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 192970 | 0.1 |
| 337000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.194%, 07/23/2030 | 324698 | 0.1 |
| 63000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.970%, 03/05/2029 | 62703 | 0.0 |
| 1520000 <sup>(1)(3)</sup> | Bank of Montreal, 4.062%, 09/22/2028 | 1518385 | 0.4 |
| 126000 | Bank of Montreal, 5.300%, 06/05/2026 | 127105 | 0.0 |
| 186000 <sup>(3)</sup> | Bank of New York Mellon, 4.729%, 04/20/2029 | 189094 | 0.0 |
| 188000 <sup>(3)</sup> | Bank of New York Mellon Corp., 4.947%, 04/26/2027 | 188938 | 0.0 |
| 432000 <sup>(3)</sup> | Barclays PLC, 4.476%, 11/11/2029 | 432839 | 0.1 |
| 206000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 192579 | 0.1 |
| 329000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 306465 | 0.1 |
| 315000 | Brown & Brown, Inc., 4.700%, 06/23/2028 | 318177 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 959000 <sup>(2)(3)</sup> | CaixaBank SA, 4.634%, 07/03/2029 | $965943 | 0.3 |
| 220000 <sup>(2)(3)</sup> | CaixaBank SA, 5.673%, 03/15/2030 | 228268 | 0.1 |
| 328000 <sup>(2)(3)</sup> | CaixaBank SA, 6.684%, 09/13/2027 | 335187 | 0.1 |
| 63000 | Camden Property Trust, 4.100%, 10/15/2028 | 63116 | 0.0 |
| 62000 <sup>(3)</sup> | Canadian Imperial Bank of Commerce, 4.857%, 03/30/2029 | 62980 | 0.0 |
| 197000 <sup>(3)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | 191972 | 0.1 |
| 125000 <sup>(3)</sup> | Capital One Financial Corp., 5.468%, 02/01/2029 | 128207 | 0.0 |
| 185000 <sup>(3)</sup> | Capital One Financial Corp., 5.700%, 02/01/2030 | 192115 | 0.1 |
| 126000 | Charles Schwab Corp., 5.875%, 08/24/2026 | 127887 | 0.0 |
| 194000 <sup>(3)</sup> | Charles Schwab Corp., 6.196%, 11/17/2029 | 206054 | 0.1 |
| 85000 <sup>(3)</sup> | Citigroup, Inc., 2.572%, 06/03/2031 | 78224 | 0.0 |
| 16000 <sup>(3)</sup> | Citigroup, Inc., 4.786%, 03/04/2029 | 16209 | 0.0 |
| 452000 | CME Group, Inc., 4.400%, 03/15/2030 | 457325 | 0.1 |
| 192000 <sup>(2)</sup> | CNO Global Funding, 4.375%, 09/08/2028 | 192198 | 0.1 |
| 1072000 | Cooperatieve Rabobank UA, 4.800%, 01/09/2029 | 1097641 | 0.3 |
| 191000 | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 189439 | 0.1 |
| 128000 <sup>(2)</sup> | Corebridge Global Funding, 4.250%, 08/21/2028 | 128128 | 0.0 |
| 961000 <sup>(1)(2)(3)</sup> | Credit Agricole SA, 5.335%, 01/10/2030 | 989220 | 0.3 |
| 556000 <sup>(2)(3)</sup> | Danske Bank A/S, 4.298%, 04/01/2028 | 556650 | 0.1 |
| 329000 <sup>(2)(3)</sup> | Danske Bank A/S, 4.613%, 10/02/2030 | 330896 | 0.1 |
| 714000 <sup>(3)</sup> | Deutsche Bank AG/ New York NY, 2.311%, 11/16/2027 | 698459 | 0.2 |
| 836000 <sup>(2)(3)</sup> | DNB Bank ASA, 5.896%, 10/09/2026 | 836226 | 0.2 |
| 487000 <sup>(2)</sup> | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 504277 | 0.1 |
| 597000 | Fifth Third Bank NA, 3.850%, 03/15/2026 | 595969 | 0.2 |
| 209000 <sup>(3)</sup> | Goldman Sachs Bank USA/New York NY, 5.283%, 03/18/2027 | 209977 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 106000 <sup>(3)</sup> | Goldman Sachs Bank USA/New York NY, 5.414%, 05/21/2027 | $106832 | 0.0 |
| 518000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 1.431%, 03/09/2027 | 511399 | 0.1 |
| 354000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 2.640%, 02/24/2028 | 346619 | 0.1 |
| 401000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.049%, 07/23/2030 | 411121 | 0.1 |
| 130000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 136041 | 0.0 |
| 4000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 4257 | 0.0 |
| 324000 | Hanover Insurance Group, Inc., 4.500%, 04/15/2026 | 324239 | 0.1 |
| 869000 <sup>(3)</sup> | HSBC Holdings PLC, 4.899%, 03/03/2029 | 881719 | 0.2 |
| 736000 <sup>(3)</sup> | ING Groep NV, 4.017%, 03/28/2028 | 733933 | 0.2 |
| 309000 <sup>(3)</sup> | ING Groep NV, 6.083%, 09/11/2027 | 314323 | 0.1 |
| 272000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 268914 | 0.1 |
| 500000 <sup>(2)</sup> | Iron Mountain, Inc., 5.250%, 03/15/2028 | 499531 | 0.1 |
| 475000 <sup>(2)</sup> | Jackson National Life Global Funding, 4.550%, 09/09/2030 | 475864 | 0.1 |
| 197000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.470%, 09/22/2027 | 192052 | 0.1 |
| 519000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 511629 | 0.1 |
| 135000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 128125 | 0.0 |
| 131000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 128973 | 0.0 |
| 130000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 128302 | 0.0 |
| 119000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.960%, 01/29/2027 | 118870 | 0.0 |
| 314000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.505%, 10/22/2028 | 316769 | 0.1 |
| 125000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.603%, 10/22/2030 | 126497 | 0.0 |
| 190000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 194940 | 0.1 |
| 62000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 63526 | 0.0 |
| 126000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.040%, 01/23/2028 | 127450 | 0.0 |
| 246000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 251441 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 255000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.581%, 04/22/2030 | $266423 | 0.1 |
| 123000 <sup>(3)</sup> | JPMorgan Chase & Co., 6.070%, 10/22/2027 | 125468 | 0.0 |
| 253000 | KeyBank NA/ Cleveland OH, 4.390%, 12/14/2027 | 254476 | 0.1 |
| 259000 <sup>(2)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 256922 | 0.1 |
| 707000 <sup>(3)</sup> | Lloyds Banking Group PLC, 5.985%, 08/07/2027 | 717217 | 0.2 |
| 127000 <sup>(2)</sup> | LPL Holdings, Inc., 4.625%, 11/15/2027 | 126789 | 0.0 |
| 232000 <sup>(2)</sup> | Lseg US Fin Corp., 4.875%, 03/28/2027 | 234473 | 0.1 |
| 806000 <sup>(2)</sup> | LSEGA Financing PLC, 1.375%, 04/06/2026 | 794615 | 0.2 |
| 500000 | Marsh & McLennan Cos., Inc., 4.550%, 11/08/2027 | 505783 | 0.1 |
| 618000 | Mastercard, Inc., 4.550%, 03/15/2028 | 628217 | 0.2 |
| 717000 <sup>(2)</sup> | Met Tower Global Funding, 4.850%, 01/16/2027 | 724197 | 0.2 |
| 1500000 <sup>(2)(3)</sup> | MF1 Multi-Family Housing Mortgage Loan Trust 2024-FL15 A, 5.824%, (TSFR1M + 1.688%), 08/18/2041 | 1505879 | 0.4 |
| 508000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 1.538%, 07/20/2027 | 497206 | 0.1 |
| 777000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.197%, 01/16/2031 | 801322 | 0.2 |
| 421000 <sup>(3)</sup> | Mizuho Financial Group, Inc., 5.376%, 05/26/2030 | 435245 | 0.1 |
| 369000 <sup>(3)</sup> | Mizuho Financial Group, Inc., 5.382%, 07/10/2030 | 382096 | 0.1 |
| 341000 <sup>(3)</sup> | Morgan Stanley, 0.985%, 12/10/2026 | 338780 | 0.1 |
| 325000 <sup>(3)</sup> | Morgan Stanley, 1.593%, 05/04/2027 | 319926 | 0.1 |
| 267000 <sup>(3)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | 261348 | 0.1 |
| 454000 <sup>(3)</sup> | Morgan Stanley, 4.994%, 04/12/2029 | 463123 | 0.1 |
| 133000 <sup>(3)</sup> | Morgan Stanley, 5.042%, 07/19/2030 | 136339 | 0.0 |
| 111000 <sup>(3)</sup> | Morgan Stanley, 5.123%, 02/01/2029 | 113404 | 0.0 |
| 61000 <sup>(3)</sup> | Morgan Stanley, 5.192%, 04/17/2031 | 63010 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 62000 <sup>(3)</sup> | Morgan Stanley, 5.230%, 01/15/2031 | $64006 | 0.0 |
| 34000 <sup>(3)</sup> | Morgan Stanley, 5.664%, 04/17/2036 | 35888 | 0.0 |
| 75000 <sup>(3)</sup> | Morgan Stanley, 6.296%, 10/18/2028 | 78164 | 0.0 |
| 525000 <sup>(3)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 513815 | 0.1 |
| 320000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 317731 | 0.1 |
| 185000 <sup>(3)</sup> | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 189394 | 0.0 |
| 533000 | Morgan Stanley Bank NA, 4.754%, 04/21/2026 | 534541 | 0.1 |
| 250000 <sup>(2)</sup> | National Securities Clearing Corp., 4.700%, 05/20/2030 | 255579 | 0.1 |
| 806000 <sup>(2)</sup> | National Securities Clearing Corp., 5.000%, 05/30/2028 | 826318 | 0.2 |
| 800000 <sup>(2)</sup> | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 800000 | 0.2 |
| 532000 <sup>(2)</sup> | Nationwide Building Society, 1.500%, 10/13/2026 | 518494 | 0.1 |
| 419000 <sup>(3)</sup> | NatWest Group PLC, 5.583%, 03/01/2028 | 426941 | 0.1 |
| 395000 <sup>(2)</sup> | NatWest Markets PLC, 5.410%, 05/17/2029 | 409919 | 0.1 |
| 800000 | OneMain Finance Corp., 3.500%, 01/15/2027 | 782370 | 0.2 |
| 394000 <sup>(2)</sup> | Pacific Life Global Funding II, 1.375%, 04/14/2026 | 388462 | 0.1 |
| 800000 <sup>(2)</sup> | PRA Group, Inc., 8.375%, 02/01/2028 | 818887 | 0.2 |
| 249000 <sup>(2)</sup> | Principal Life Global Funding II, 5.100%, 01/25/2029 | 255678 | 0.1 |
| 186000 | Prologis L.P., 4.875%, 06/15/2028 | 190310 | 0.1 |
| 148000 <sup>(2)</sup> | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 152855 | 0.0 |
| 192000 <sup>(2)</sup> | RGA Global Funding, 4.350%, 08/25/2028 | 192312 | 0.1 |
| 800000 <sup>(2)</sup> | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 792577 | 0.2 |
| 217000 <sup>(3)</sup> | Royal Bank of Canada, 4.498%, 08/06/2029 | 218739 | 0.1 |
| 457000 | Royal Bank of Canada, GMTN, 1.150%, 07/14/2026 | 447136 | 0.1 |
| 250000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.522%, 10/18/2028 | 252139 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 187000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.715%, 03/27/2028 | $188888 | 0.0 |
| 332000 | Royal Bank of Canada, GMTN, 4.950%, 02/01/2029 | 341332 | 0.1 |
| 160000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 163791 | 0.0 |
| 190000 | Royal Bank of Canada, GMTN, 5.200%, 07/20/2026 | 191807 | 0.1 |
| 727000 <sup>(3)</sup> | Santander UK Group Holdings PLC, 6.833%, 11/21/2026 | 729179 | 0.2 |
| 294000 <sup>(2)</sup> | Skandinaviska Enskilda Banken AB, 4.375%, 06/02/2028 | 296725 | 0.1 |
| 800000 <sup>(2)</sup> | Starwood Property Trust, Inc., 4.375%, 01/15/2027 | 793794 | 0.2 |
| 799000 <sup>(3)</sup> | State Street Corp., 3.031%, 11/01/2034 | 750337 | 0.2 |
| 127000 <sup>(3)</sup> | State Street Corp., 4.530%, 02/20/2029 | 128390 | 0.0 |
| 253000 | State Street Corp., 4.536%, 02/28/2028 | 256301 | 0.1 |
| 199000 <sup>(3)</sup> | State Street Corp., 4.543%, 04/24/2028 | 200688 | 0.1 |
| 168000 | State Street Corp., 4.729%, 02/28/2030 | 171770 | 0.0 |
| 357000 | Sumitomo Mitsui Financial Group, Inc., 3.040%, 07/16/2029 | 341482 | 0.1 |
| 230000 | Sumitomo Mitsui Financial Group, Inc., 5.716%, 09/14/2028 | 240272 | 0.1 |
| 1000000 <sup>(2)</sup> | Sumitomo Mitsui Trust Bank Ltd., 5.200%, 03/07/2027 | 1016144 | 0.3 |
| 241000 <sup>(2)</sup> | Sumitomo Mitsui Trust Bank Ltd., 5.650%, 09/14/2026 | 244653 | 0.1 |
| 124000 | Toronto-Dominion Bank, GMTN, 4.980%, 04/05/2027 | 125827 | 0.0 |
| 859000 | Toronto-Dominion Bank, MTN, 5.532%, 07/17/2026 | 868702 | 0.2 |
| 130000 <sup>(3)</sup> | Truist Financial Corp., MTN, 1.267%, 03/02/2027 | 128396 | 0.0 |
| 136000 <sup>(3)</sup> | Truist Financial Corp., MTN, 1.887%, 06/07/2029 | 128187 | 0.0 |
| 421000 <sup>(3)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 435695 | 0.1 |
| 1065000 <sup>(2)(3)</sup> | UBS Group AG, 4.151%, 12/23/2029 | 1062743 | 0.3 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 248000 <sup>(2)(3)</sup> | UBS Group AG, 5.428%, 02/08/2030 | $| 256277 | 0.1 |
| 800000 <sup>(2)</sup> | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 |  | 800233 | 0.2 |
| 261000 <sup>(3)</sup> | US Bancorp, 5.046%, 02/12/2031 |  | 267769 | 0.1 |
| 762000 <sup>(2)</sup> | USAA Capital Corp., 4.375%, 06/01/2028 |  | 769588 | 0.2 |
| 153000 <sup>(3)</sup> | Wells Fargo & Co., 4.970%, 04/23/2029 |  | 155935 | 0.0 |
| 601000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 2.879%, 10/30/2030 |  | 569168 | 0.1 |
| 255000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.526%, 03/24/2028 |  | 252757 | 0.1 |
| 257000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 |  | 254729 | 0.1 |
| 123000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 5.574%, 07/25/2029 |  | 127498 | 0.0 |
| 574000 | Wells Fargo Bank NA, 5.450%, 08/07/2026 |  | 580418 | 0.2 |
| 664000 | Welltower OP LLC, 4.500%, 07/01/2030 |  | 670546 | 0.2 |
| 276000 <sup>(2)</sup> | Westpac New Zealand Ltd., 5.132%, 02/26/2027 |  | 280156 | 0.1 |
|  |  |  | **61052010** | **15.9** |
|  | **Industrial: 3.0%** | **Industrial: 3.0%** | **Industrial: 3.0%** | **Industrial: 3.0%** |
| 123000 | 3M Co., 4.800%, 03/15/2030 |  | 125819 | 0.0 |
| 601000 | AGCO Corp., 5.450%, 03/21/2027 |  | 609976 | 0.2 |
| 62000 | Amcor Flexibles North America, Inc., 4.800%, 03/17/2028 |  | 62716 | 0.0 |
| 123000 | Amcor Flexibles North America, Inc., 5.100%, 03/17/2030 |  | 125852 | 0.0 |
| 126000 | Amphenol Corp., 4.375%, 06/12/2028 |  | 127161 | 0.0 |
| 325000 <sup>(2)</sup> | BAE Systems PLC, 5.125%, 03/26/2029 |  | 334808 | 0.1 |
| 555000 <sup>(2)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 |  | 552042 | 0.1 |
| 435000 | Caterpillar Financial Services Corp., 4.400%, 03/03/2028 |  | 439733 | 0.1 |
| 186000 | Caterpillar Financial Services Corp., 4.800%, 01/08/2030 |  | 191859 | 0.1 |
| 307000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 |  | 314492 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 1225000 | CNH Industrial Capital LLC, 5.450%, 10/14/2025 | $1225387 | 0.3 |
| 191000 | FedEx Corp., 3.250%, 04/01/2026 | 190082 | 0.1 |
| 308000 | GATX Corp., 5.400%, 03/15/2027 | 312600 | 0.1 |
| 62000 | HEICO Corp., 5.250%, 08/01/2028 | 63679 | 0.0 |
| 250000 | Ingersoll Rand, Inc., 5.197%, 06/15/2027 | 254317 | 0.1 |
| 61000 | JB Hunt Transport Services, Inc., 4.900%, 03/15/2030 | 62291 | 0.0 |
| 65000 | John Deere Capital Corp., MTN, 2.350%, 03/08/2027 | 63669 | 0.0 |
| 441000 | John Deere Capital Corp. I, 4.250%, 06/05/2028 | 444779 | 0.1 |
| 190000 | L3Harris Technologies, Inc., 4.400%, 06/15/2028 | 191293 | 0.1 |
| 64000 | Lockheed Martin Corp., 4.150%, 08/15/2028 | 64418 | 0.0 |
| 556000 | Lockheed Martin Corp., 4.400%, 08/15/2030 | 560665 | 0.1 |
| 125000 <sup>(2)</sup> | Molex Electronic Technologies LLC, 4.750%, 04/30/2028 | 126282 | 0.0 |
| 229000 | Northrop Grumman Corp., 4.650%, 07/15/2030 | 233037 | 0.1 |
| 800000 <sup>(2)</sup> | Owens-Brockway Glass Container, Inc., 6.625%, 05/13/2027 | 799200 | 0.2 |
| 126000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 01/12/2027 | 127577 | 0.0 |
| 366000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 376608 | 0.1 |
| 305000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 6.050%, 08/01/2028 | 318551 | 0.1 |
| 600000 <sup>(2)</sup> | Rolls-Royce PLC, 3.625%, 10/14/2025 | 599745 | 0.2 |
| 271000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 277621 | 0.1 |
| 123000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 126394 | 0.0 |
| 182000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 188627 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 101000 <sup>(1)</sup> | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | $| 105426 | 0.0 |
| 800000 <sup>(2)</sup> | Smyrna Ready Mix Concrete LLC, 6.000%, 11/01/2028 |  | 800918 | 0.2 |
| 120000 | Stanley Black & Decker, Inc., 6.000%, 03/06/2028 |  | 124744 | 0.0 |
| 800000 <sup>(2)</sup> | TK Elevator US Newco, Inc., 5.250%, 07/15/2027 |  | 797783 | 0.2 |
| 248000 | Veralto Corp., 5.500%, 09/18/2026 |  | 251090 | 0.1 |
| 63000 | Waste Management, Inc., 4.950%, 07/03/2027 |  | 64118 | 0.0 |
|  |  |  | **11635359** | **3.0** |
|  | **Technology: 3.9%** | **Technology: 3.9%** | **Technology: 3.9%** | **Technology: 3.9%** |
| 312000 | Advanced Micro Devices, Inc., 4.319%, 03/24/2028 |  | 314784 | 0.1 |
| 126000 | Analog Devices, Inc., 4.250%, 06/15/2028 |  | 126911 | 0.0 |
| 731000 | Broadcom, Inc., 3.459%, 09/15/2026 |  | 727946 | 0.2 |
| 1464000 | Broadcom, Inc., 4.150%, 02/15/2028 |  | 1468119 | 0.4 |
| 1628000 | Broadcom, Inc., 4.800%, 04/15/2028 |  | 1658271 | 0.4 |
| 125000 | Cadence Design Systems, Inc., 4.200%, 09/10/2027 |  | 125569 | 0.0 |
| 1125000 | Dell International LLC / EMC Corp., 4.150%, 02/15/2029 |  | 1122558 | 0.3 |
| 355000 | Dell International LLC / EMC Corp., 4.500%, 02/15/2031 |  | 354272 | 0.1 |
| 248000 | Dell International LLC / EMC Corp., 4.750%, 04/01/2028 |  | 251698 | 0.1 |
| 332000 | Dell International LLC / EMC Corp., 5.000%, 04/01/2030 |  | 340188 | 0.1 |
| 1244000 | Fidelity National Information Services, Inc., 1.150%, 03/01/2026 |  | 1228326 | 0.3 |
| 124000 | Fiserv, Inc., 5.150%, 03/15/2027 |  | 125676 | 0.0 |
| 685000 | Fiserv, Inc., 5.450%, 03/02/2028 |  | 704384 | 0.2 |
| 656000 | Hewlett Packard Enterprise Co., 4.550%, 10/15/2029 |  | 659739 | 0.2 |
| 702000 | IBM International Capital Pte Ltd., 4.600%, 02/05/2029 |  | 711705 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 643000 | Oracle Corp., 1.650%, 03/25/2026 | $| 635502 | 0.2 |
| 633000 | Oracle Corp., 2.650%, 07/15/2026 |  | 625726 | 0.2 |
| 251000 | Oracle Corp., 4.800%, 08/03/2028 |  | 255259 | 0.1 |
| 128000 | Roper Technologies, Inc., 4.250%, 09/15/2028 |  | 128630 | 0.0 |
| 800000 <sup>(2)</sup> | SS&C Technologies, Inc., 5.500%, 09/30/2027 |  | 799458 | 0.2 |
| 248000 | Synopsys, Inc., 4.650%, 04/01/2028 |  | 250819 | 0.1 |
| 157000 | Synopsys, Inc., 4.850%, 04/01/2030 |  | 159966 | 0.0 |
| 1352000 | VMware LLC, 3.900%, 08/21/2027 |  | 1347326 | 0.3 |
| 421000 | VMware, Inc., 1.400%, 08/15/2026 |  | 411741 | 0.1 |
| 290000 | Workday, Inc., 3.500%, 04/01/2027 |  | 287546 | 0.1 |
|  |  |  | **14822119** | **3.9** |
|  | **Utilities: 4.5%** | **Utilities: 4.5%** | **Utilities: 4.5%** | **Utilities: 4.5%** |
| 518000 <sup>(2)</sup> | AEP Texas, Inc., 3.850%, 10/01/2025 |  | 518000 | 0.1 |
| 399000 | AES Corp., 1.375%, 01/15/2026 |  | 395359 | 0.1 |
| 619000 | AES Corp., 5.450%, 06/01/2028 |  | 634137 | 0.2 |
| 193000 | Alabama Power Co., 3.750%, 09/01/2027 |  | 192708 | 0.1 |
| 124000 | Ameren Corp., 5.700%, 12/01/2026 |  | 125984 | 0.0 |
| 446000 | Ameren Illinois Co., 3.800%, 05/15/2028 |  | 444549 | 0.1 |
| 637000 | American Electric Power Co., Inc., 5.200%, 01/15/2029 |  | 657065 | 0.2 |
| 187000 <sup>(2)</sup> | Capital Power US Holdings, Inc., 5.257%, 06/01/2028 |  | 190623 | 0.0 |
| 184000 | CenterPoint Energy Houston Electric LLC, 4.800%, 03/15/2030 |  | 188368 | 0.0 |
| 63000 | Connecticut Light and Power Co., 4.650%, 01/01/2029 |  | 64179 | 0.0 |
| 357000 | Consumers Energy Co., 4.500%, 01/15/2031 |  | 360888 | 0.1 |
| 62000 | Consumers Energy Co., 4.900%, 02/15/2029 |  | 63594 | 0.0 |
| 166000 | DTE Electric Co., 4.250%, 05/14/2027 |  | 166919 | 0.0 |
| 188000 | DTE Energy Co., 5.100%, 03/01/2029 |  | 192710 | 0.1 |
| 1355000 <sup>(2)</sup> | Enel Finance International NV, 4.125%, 09/30/2028 |  | 1351703 | 0.4 |

---

See Accompanying Notes to Financial Statements

<u>Voya Short Duration Bond Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 697000 <sup>(2)</sup> | Enel Finance International NV, 7.050%, 10/14/2025 | $697617 | 0.2 |
| 196000 | Eversource Energy, 2.900%, 03/01/2027 | 192567 | 0.1 |
| 316000 | Eversource Energy, 4.750%, 05/15/2026 | 316992 | 0.1 |
| 142000 | Exelon Corp., 5.150%, 03/15/2029 | 146131 | 0.0 |
| 585000 | Georgia Power Co., 4.000%, 10/01/2028 | 585155 | 0.2 |
| 189000 | Georgia Power Co., 5.004%, 02/23/2027 | 191742 | 0.1 |
| 449000 <sup>(2)</sup> | Jersey Central Power & Light Co., 4.150%, 01/15/2029 | 448617 | 0.1 |
| 320000 <sup>(2)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 330259 | 0.1 |
| 188000 | National Rural Utilities Cooperative Finance Corp., 4.120%, 09/16/2027 | 188786 | 0.0 |
| 309000 | National Rural Utilities Cooperative Finance Corp., 5.150%, 06/15/2029 | 320250 | 0.1 |
| 156000 | National Rural Utilities Cooperative Finance Corp., MTN, 5.600%, 11/13/2026 | 158591 | 0.0 |
| 128000 | National Rural Utilities Cooperative Finance Corp. D, 4.150%, 08/25/2028 | 128389 | 0.0 |
| 184000 <sup>(2)</sup> | New York State Electric & Gas Corp., 5.650%, 08/15/2028 | 191268 | 0.1 |
| 132000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 128411 | 0.0 |
| 136000 | NextEra Energy Capital Holdings, Inc., 1.900%, 06/15/2028 | 128595 | 0.0 |
| 253000 | NextEra Energy Capital Holdings, Inc., 4.625%, 07/15/2027 | 255581 | 0.1 |
| 126000 | NextEra Energy Capital Holdings, Inc., 4.900%, 02/28/2028 | 128233 | 0.0 |
| 788000 | NextEra Energy Capital Holdings, Inc., 5.050%, 03/15/2030 | 811759 | 0.2 |
| 535000 <sup>(2)</sup> | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 482003 | 0.1 |
| 632000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 651950 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** | **Utilities: (continued)** |
| 481672 | PG&E Wildfire Recovery Funding LLC A-1, 3.594%, 06/01/2032 | $| 475566 | 0.1 |
| 310000 | Pinnacle West Capital Corp., 5.150%, 05/15/2030 |  | 318961 | 0.1 |
| 244000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 |  | 252693 | 0.1 |
| 220000 | Sempra Energy, 5.400%, 08/01/2026 |  | 221984 | 0.1 |
| 1252000 | Sierra Pacific Power Co., 2.600%, 05/01/2026 |  | 1241588 | 0.3 |
| 238000 | Southern Co., 5.500%, 03/15/2029 |  | 247577 | 0.1 |
| 283000 | Southern Co. Gas Capital Corp., 3.250%, 06/15/2026 |  | 281317 | 0.1 |
| 375000 | Southern Power Co. A, 4.250%, 10/01/2030 |  | 372925 | 0.1 |
| 570000 <sup>(2)</sup> | Vistra Operations Co. LLC, 5.050%, 12/30/2026 |  | 573703 | 0.1 |
| 520000 <sup>(2)</sup> | Vistra Operations Co. LLC, 5.625%, 02/15/2027 |  | 520705 | 0.1 |
| 204000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 |  | 192435 | 0.1 |
| 295000 | WEC Energy Group, Inc., 4.750%, 01/09/2026 |  | 295339 | 0.1 |
| 71000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 |  | 72372 | 0.0 |
|  |  |  | **17096847** | **4.5** |
|  | Total Corporate Bonds/ Notes |  |  |  |
|  | (Cost $179,808,581) |  | **181782368** | **47.5** |
| **ASSET-BACKED SECURITIES: 16.7%** | **ASSET-BACKED SECURITIES: 16.7%** | **ASSET-BACKED SECURITIES: 16.7%** | **ASSET-BACKED SECURITIES: 16.7%** | **ASSET-BACKED SECURITIES: 16.7%** |
|  | **Automobile Asset-Backed Securities: 5.4%** | **Automobile Asset-Backed Securities: 5.4%** | **Automobile Asset-Backed Securities: 5.4%** | **Automobile Asset-Backed Securities: 5.4%** |
| 1450000 <sup>(2)</sup> | American Heritage Auto Receivables Trust 2024-1A A3, 4.900%, 09/17/2029 |  | 1464099 | 0.4 |
| 382098 | Americredit Automobile Receivables Trust 2023-1 A3, 5.620%, 11/18/2027 |  | 383274 | 0.1 |
| 2850000 | BMW Vehicle Lease Trust 2024-1 A4, 5.000%, 06/25/2027 |  | 2876473 | 0.8 |
| 300000 | CarMax Auto Owner Trust 2022-1 B, 1.950%, 09/15/2027 |  | 296411 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Automobile Asset-Backed Securities: (continued)** | **Automobile Asset-Backed Securities: (continued)** | **Automobile Asset-Backed Securities: (continued)** | **Automobile Asset-Backed Securities: (continued)** |
| 1393489 <sup>(2)</sup> | Chase Auto Owner Trust 2023-AA A3, 5.680%, 01/25/2029 | $| 1410112 | 0.4 |
| 850000 | Drive Auto Receivables Trust 2024-2 A3, 4.500%, 09/15/2028 |  | 851327 | 0.2 |
| 1100000 | Exeter Automobile Receivables Trust 2025-4A A2, 4.530%, 03/15/2028 |  | 1101399 | 0.3 |
| 1000000 | Exeter Automobile Receivables Trust 2025-4A A3, 4.390%, 09/17/2029 |  | 1004363 | 0.3 |
| 1700000 <sup>(2)</sup> | GLS Auto Receivables Issuer Trust 2025-1A A3, 4.770%, 09/15/2028 |  | 1710285 | 0.4 |
| 400000 | GM Financial Consumer Automobile Receivables Trust 2022-4 B, 5.500%, 08/16/2028 |  | 404980 | 0.1 |
| 1750000 | GM Financial Consumer Automobile Receivables Trust 2023-3 A4, 5.340%, 12/18/2028 |  | 1781145 | 0.5 |
| 1200000 <sup>(2)</sup> | PenFed Auto Receivables Owner Trust 2024-A A3, 4.700%, 06/15/2029 |  | 1208040 | 0.3 |
| 1250000 <sup>(2)</sup> | Porsche Financial Auto Securitization Trust 2023-1A A4, 4.720%, 06/23/2031 |  | 1260396 | 0.3 |
| 1100000 <sup>(2)</sup> | Porsche Innovative Lease Owner Trust 2024-1A A4, 4.660%, 02/20/2030 |  | 1108644 | 0.3 |
| 1550000 | Santander Drive Auto Receivables Trust 2024-4 A3, 4.850%, 01/16/2029 |  | 1555637 | 0.4 |
| 950000 <sup>(2)</sup> | SCCU Auto Receivables Trust 2024-1A A3, 5.110%, 06/15/2029 |  | 958010 | 0.2 |
| 1150000 <sup>(2)</sup> | Tesla Auto Lease Trust 2024-B A3, 4.820%, 10/20/2027 |  | 1156716 | 0.3 |
|  |  |  | **20531311** | **5.4** |
|  | **Other Asset-Backed Securities: 9.7%** | **Other Asset-Backed Securities: 9.7%** | **Other Asset-Backed Securities: 9.7%** | **Other Asset-Backed Securities: 9.7%** |
| 1023226 <sup>(2)(3)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 5.615%, (TSFR1M + 1.464%), 11/15/2036 |  | 1023292 | 0.3 |
| 309565 <sup>(2)(3)</sup> | Bain Capital Credit CLO 2018-2A A1R, 5.405%, (TSFR3M + 1.080%), 07/19/2031 |  | 309654 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 1370000 <sup>(2)(3)</sup> | Bain Capital Credit CLO Ltd. 2020-5A ARR, 5.335%, (TSFR3M + 1.150%), 04/20/2034 | $1370663 | 0.4 |
| 1900000 <sup>(2)(3)</sup> | Ballyrock CLO 17 Ltd. 2021-17A A1B, 5.987%, (TSFR3M + 1.662%), 10/20/2034 | 1901343 | 0.5 |
| 1500000 <sup>(2)(3)</sup> | Ballyrock CLO 22 Ltd. 2024-22A A1A, 5.858%, (TSFR3M + 1.540%), 04/15/2037 | 1505466 | 0.4 |
| 408391 <sup>(2)(3)</sup> | Barings CLO Ltd. 2015-IA AR, 5.577%, (TSFR3M + 1.252%), 01/20/2031 | 408605 | 0.1 |
| 2750000 <sup>(2)(3)</sup> | Barings CLO Ltd. 2024-1A A, 5.955%, (TSFR3M + 1.630%), 01/20/2037 | 2756941 | 0.7 |
| 1000000 <sup>(2)(3)</sup> | Benefit Street Partners CLO XXI Ltd. 2020-21A A1R, 5.749%, (TSFR3M + 1.432%), 10/15/2034 | 1001607 | 0.3 |
| 600000 <sup>(2)(3)</sup> | Birch Grove CLO 10 Ltd. 2024-10A A, 5.722%, (TSFR3M + 1.390%), 01/22/2038 | 601939 | 0.2 |
| 2500000 <sup>(2)(3)</sup> | BlueMountain CLO XXXII Ltd. 2021-32A AR, 5.418%, (TSFR3M + 1.100%), 10/15/2034 | 2500578 | 0.6 |
| 600000 <sup>(2)(3)</sup> | Carlyle US CLO Ltd. 2017-3A A1R2, 5.725%, (TSFR3M + 1.400%), 10/21/2037 | 602399 | 0.2 |
| 800000 <sup>(2)(3)</sup> | Carlyle US CLO Ltd. 2021-4A A2, 5.987%, (TSFR3M + 1.662%), 04/20/2034 | 800615 | 0.2 |
| 1650000 <sup>(2)(3)</sup> | CBAM Ltd. 2017-1A AR2, 5.715%, (TSFR3M + 1.390%), 01/20/2038 | 1658329 | 0.4 |
| 250000 <sup>(2)(3)</sup> | CIFC Funding Ltd. 2019-6A A2R, 6.018%, (TSFR3M + 1.700%), 07/16/2037 | 250427 | 0.1 |
| 1666308 <sup>(2)</sup> | DLLAA LLC 2023-1A A3, 5.640%, 02/22/2028 | 1687946 | 0.4 |
| 250000 <sup>(2)(3)</sup> | Eaton Vance Clo Ltd. 2015-1A A2R, 5.837%, (TSFR3M + 1.512%), 01/20/2030 | 250063 | 0.1 |
| 1450000 <sup>(2)(3)</sup> | Empower CLO Ltd. 2022-1A A1R, 5.715%, (TSFR3M + 1.390%), 10/20/2037 | 1456054 | 0.4 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 1950000 <sup>(2)(3)</sup> | Empower CLO Ltd. 2025-1A A, 5.637%, (TSFR3M + 1.310%), 07/20/2038 | $1958061 | 0.5 |
| 218918 <sup>(2)(3)</sup> | HGI CRE CLO Ltd. 2022-FL3 A, 6.074%, (SOFR30A + 1.700%), 04/20/2037 | 218983 | 0.1 |
| 450000 <sup>(2)(3)</sup> | Invesco US CLO Ltd. 2023-1A AR, 5.902%, (TSFR3M + 1.570%), 04/22/2037 | 451183 | 0.1 |
| 450000 | John Deere Owner Trust 2022 2022-A A4, 2.490%, 01/16/2029 | 449609 | 0.1 |
| 1000000 | John Deere Owner Trust 2025 2025-A A4, 4.420%, 02/17/2032 | 1012274 | 0.3 |
| 700000 <sup>(2)</sup> | Kubota Credit Owner Trust 2025-2A A4, 4.570%, 11/15/2030 | 711253 | 0.2 |
| 8236 <sup>(2)(3)</sup> | LCM 26 Ltd. 26A A1, 5.657%, (TSFR3M + 1.332%), 01/20/2031 | 8239 | 0 |
| 1200000 <sup>(2)(3)</sup> | Oaktree CLO Ltd. 2022-2A A1R2, 5.688%, (TSFR3M + 1.370%), 10/15/2037 | 1202462 | 0.3 |
| 700000 <sup>(2)(3)</sup> | OZLM XV Ltd. 2016-15A A1R3, 5.332%, (TSFR3M + 1.050%), 04/20/2033 | 700864 | 0.2 |
| 1850000 <sup>(2)(3)</sup> | Palmer Square CLO Ltd. 2018-1A A1R, 5.849%, (TSFR3M + 1.520%), 04/18/2037 | 1859507 | 0.5 |
| 950000 <sup>(2)</sup> | PFS Financing Corp. 2023-C A, 5.520%, 10/15/2028 | 964281 | 0.2 |
| 750000 <sup>(2)(3)</sup> | Rad CLO 6 Ltd. 2019-6A A1R, 5.715%, (TSFR3M + 1.390%), 10/20/2037 | 752459 | 0.2 |
| 2100000 <sup>(2)</sup> | SoFi Consumer Loan Program Trust 2025-1 B, 5.120%, 02/27/2034 | 2125455 | 0.5 |
| 460152 <sup>(2)(3)</sup> | Sound Point CLO XVIII Ltd. 2017-4A A1, 5.707%, (TSFR3M + 1.382%), 01/21/2031 | 460588 | 0.1 |
| 410000 <sup>(2)(3)</sup> | Sound Point CLO XXV Ltd. 2019-4A A1R, 5.598%, (TSFR3M + 1.280%), 04/25/2033 | 410134 | 0.1 |
| 531330 <sup>(2)(3)</sup> | TCI-Symphony CLO Ltd. 2017-1A AR, 5.509%, (TSFR3M + 1.192%), 07/15/2030 | 531630 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 793674 <sup>(2)(3)</sup> | Venture 37 CLO Ltd. 2019-37A A1RR, 5.568%, (TSFR3M + 1.250%), 07/15/2032 | $| 793955 | 0.2 |
| 500000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2024-1A A3, 4.290%, 10/16/2028 |  | 502395 | 0.1 |
| 500000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2024-1A A4, 4.290%, 07/15/2031 |  | 503344 | 0.1 |
| 1050000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2025-1A A3, 4.460%, 05/15/2029 |  | 1058503 | 0.3 |
| 300000 <sup>(2)(3)</sup> | Wellman Park CLO Ltd. 2021-1A AR, 5.668%, (TSFR3M + 1.350%), 07/15/2037 |  | 300680 | 0.1 |
|  |  |  | **37061780** | **9.7** |
|  | **Student Loan Asset-Backed Securities: 1.6%** | **Student Loan Asset-Backed Securities: 1.6%** | **Student Loan Asset-Backed Securities: 1.6%** | **Student Loan Asset-Backed Securities: 1.6%** |
| 98191 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 |  | 95050 | 0.0 |
| 31369 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 |  | 29465 | 0.0 |
| 61328 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-A A, 0.840%, 05/15/2069 |  | 56153 | 0.0 |
| 1017417 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-EA A, 0.970%, 12/16/2069 |  | 918027 | 0.2 |
| 249058 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-FA A, 1.110%, 02/18/2070 |  | 222377 | 0.1 |
| 2130251 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2023-A A, 5.510%, 10/15/2071 |  | 2185116 | 0.6 |
| 1537514 <sup>(2)</sup> | SMB Private Education Loan Trust 2025-A A1A, 5.130%, 04/15/2054 |  | 1567174 | 0.4 |
| 279734 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2021-B AFX, 1.140%, 02/15/2047 |  | 245716 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** |
| 1053847 <sup>(2)</sup> | Sofi Proffesional Loan Program Trust 2021-A AFX, 1.030%, 08/17/2043 | $| 932105 | 0.2 |
|  |  |  | **6251183** | **1.6** |
|  | Total Asset-Backed Securities |  |  |  |
|  | (Cost $63,569,813) |  | **63844274** | **16.7** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 13.4%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 13.4%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 13.4%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 13.4%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 13.4%** |
| 1500000 <sup>(2)(3)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.900%, (TSFR1M + 1.750%), 06/15/2035 |  | 1502413 | 0.4 |
| 1321522 <sup>(2)(3)</sup> | AREIT LLC 2023-CRE8 A, 6.255%, (TSFR1M + 2.112%), 08/17/2041 |  | 1323004 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | AREIT Ltd. 2025-CRE10 A, 5.531%, (TSFR1M + 1.388%), 12/17/2029 |  | 1002589 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | ARES1 2024-IND2 A, 5.593%, (TSFR1M + 1.443%), 10/15/2034 |  | 1001927 | 0.3 |
| 500000 <sup>(2)</sup> | ARZ Trust 2024-BILT A, 5.772%, 06/11/2039 |  | 515113 | 0.1 |
| 1625000 <sup>(2)(3)</sup> | BAHA Trust 2024-MAR A, 6.171%, 12/10/2041 |  | 1682607 | 0.4 |
| 2000000 <sup>(3)</sup> | BANK5 2024-5YR10 B, 6.140%, 10/15/2057 |  | 2061242 | 0.5 |
| 1000000 <sup>(2)(3)</sup> | BAY Mortgage Trust 2025-LIVN A, 5.950%, (TSFR1M + 1.800%), 05/15/2035 |  | 1004382 | 0.3 |
| 1500000 <sup>(2)(3)</sup> | BHMS Commercial Mortgage Trust 2025-ATLS A, 6.000%, (TSFR1M + 1.850%), 08/15/2042 |  | 1507246 | 0.4 |
| 1000000 | BMO Mortgage Trust 2024-5C5 A3, 5.857%, 02/15/2057 |  | 1047826 | 0.3 |
| 1250000 <sup>(3)</sup> | BMO Mortgage Trust 2024-5C6 B, 6.086%, 09/15/2057 |  | 1288826 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.486%, (TSFR1M + 1.386%), 01/17/2043 |  | 998424 | 0.3 |
| 780161 <sup>(2)(3)</sup> | BX Commercial Mortgage Trust 2021-ACNT B, 5.514%, (TSFR1M + 1.364%), 11/15/2038 |  | 780104 | 0.2 |
| 1550000 <sup>(2)(3)</sup> | BX Trust 2021-ARIA C, 5.910%, (TSFR1M + 1.760%), 10/15/2036 |  | 1550210 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(2)(3)</sup> | BX Trust 2021-LGCY A, 4.770%, (TSFR1M + 0.620%), 10/15/2036 | $997418 | 0.3 |
| 845329 <sup>(2)(3)</sup> | BX Trust 2021-RISE B, 5.514%, (TSFR1M + 1.364%), 11/15/2036 | 844611 | 0.2 |
| 955585 <sup>(2)(3)</sup> | BX Trust 2025-LUNR B, 6.000%, (TSFR1M + 1.850%), 06/15/2040 | 959127 | 0.2 |
| 1000000 | BX Trust 2025-OMG, 5.500%, (TSFR1M + 1.350%), 10/15/2027 | 1000000 | 0.3 |
| 320421 <sup>(3)</sup> | COMM Mortgage Trust 2015-CR25 C, 4.490%, 08/10/2048 | 317335 | 0.1 |
| 66410 | COMM Mortgage Trust 2015-CR26 A4, 3.630%, 10/10/2048 | 66287 | 0.0 |
| 500000 <sup>(2)(3)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 510124 | 0.1 |
| 500000 <sup>(2)(3)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 508572 | 0.1 |
| 1000000 <sup>(2)(3)</sup> | CSTL Commercial Mortgage Trust 2024-GATE B, 5.221%, 11/10/2041 | 998225 | 0.3 |
| 214895 | DBJPM Mortgage Trust 2017-C6 A3, 3.269%, 06/10/2050 | 211914 | 0.0 |
| 2000000 <sup>(2)</sup> | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 2072954 | 0.5 |
| 1500000 <sup>(2)</sup> | ELM Trust 2024-ELM B15, 6.195%, 06/10/2039 | 1509115 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | Extended Stay America Trust 2025-ESH B, 5.750%, (TSFR1M + 1.600%), 10/15/2042 | 1005625 | 0.3 |
| 1100000 <sup>(2)(3)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.519%, (TSFR1M + 1.385%), 08/19/2042 | 1101955 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | FS Trust 2024-HULA B, 6.241%, (TSFR1M + 2.091%), 08/15/2039 | 1003333 | 0.3 |
| 45001 | Ginnie Mae 2017-100 AB, 2.300%, 04/16/2052 | 43319 | 0.0 |
| 20888 | Ginnie Mae 2017-86 AB, 2.300%, 11/16/2051 | 20537 | 0.0 |
| 560 | Ginnie Mae 2018-41 A, 2.400%, 09/16/2058 | 558 | 0.0 |
| 1000000 <sup>(2)(3)</sup> | GSAT Trust 2025-BMF A, 5.650%, (TSFR1M + 1.500%), 07/15/2040 | 1001500 | 0.3 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(2)</sup> | ICNQ Mortgage Trust 2024-MF A, 5.778%, 12/10/2034 | $1032559 | 0.3 |
| 1334000 <sup>(2)(3)</sup> | INTOWN Mortgage Trust 2025-STAY C, 6.400%, (TSFR1M + 2.250%), 03/15/2042 | 1334397 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | IP Mortgage Trust 2025-IP A, 5.425%, 06/10/2042 | 1018964 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | KRE Commercial Mortgage Trust 2025-AIP4 A, 5.450%, (TSFR1M + 1.300%), 03/15/2042 | 1000079 | 0.3 |
| 1500000 <sup>(2)(3)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.528%, (TSFR1M + 1.385%), 08/17/2042 | 1504975 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | MF1 LLC 2025-FL17 A, 5.456%, (TSFR1M + 1.320%), 02/18/2040 | 1002374 | 0.3 |
| 1000000 <sup>(3)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 C, 4.620%, 12/15/2047 | 968564 | 0.2 |
| 1750000 <sup>(2)(3)</sup> | NXPT Commercial Mortgage Trust 2024-STOR A, 4.455%, 11/05/2041 | 1732780 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | PRM Trust 2025-PRM6 A, 4.630%, 07/05/2033 | 997364 | 0.3 |
| 1500000 <sup>(2)(3)</sup> | PRM5 Trust 2025-PRM5 A, 4.620%, 03/10/2033 | 1496795 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | SMRT 2022-MINI F, 7.501%, (TSFR1M + 3.350%), 01/15/2039 | 976524 | 0.2 |
| 1678958 <sup>(2)</sup> | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 1705679 | 0.4 |
| 1557000 | UBS Commercial Mortgage Trust 2019-C16 AS, 3.887%, 04/15/2052 | 1479194 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | WCORE Commercial Mortgage Trust 2024-CORE B, 5.992%, (TSFR1M + 1.842%), 11/15/2041 | 1003223 | 0.3 |
| 1085000 | Wells Fargo Commercial Mortgage Trust 2016-LC25 A4, 3.640%, 12/15/2059 | 1073072 | 0.3 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1452745 <sup>(3)</sup> | WFRBS Commercial Mortgage Trust 2014-C21 B, 4.213%, 08/15/2047 | $| 1419196 | 0.4 |
|  | Total Commercial Mortgage-Backed Securities |  |  |  |
|  | (Cost $50,490,917) |  | **51184161** | **13.4** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 11.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 11.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 11.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 11.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 11.7%** |
| 570781 <sup>(2)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R01 1M2, 5.906%, (SOFR30A + 1.550%), 10/25/2041 |  | 572007 | 0.1 |
| 55147 | Fannie Mae Interest Strip 404 8, 3.000%, 05/25/2040 |  | 51212 | 0.0 |
| 124022 | Fannie Mae REMIC Trust 2013-114 NA, 3.000%, 08/25/2032 |  | 122879 | 0.0 |
| 401781 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-34 PF, 4.821%, (SOFR30A + 0.464%), 08/25/2042 |  | 398906 | 0.1 |
| 4370702 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-103 FH, 5.606%, (SOFR30A + 1.250%), 01/25/2055 |  | 4387190 | 1.1 |
| 789947 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-86 FA, 5.806%, (SOFR30A + 1.450%), 12/25/2054 |  | 797463 | 0.2 |
| 688444 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-88 DF, 5.606%, (SOFR30A + 1.250%), 12/25/2054 |  | 691076 | 0.2 |
| 3354096 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-88 FD, 5.556%, (SOFR30A + 1.200%), 12/25/2054 |  | 3370995 | 0.9 |
| 51754 | Freddie Mac REMIC Trust 2103 TE, 6.000%, 12/15/2028 |  | 52826 | 0.0 |
| 578776 <sup>(3)</sup> | Freddie Mac REMIC Trust 3049 XF, 4.837%, (SOFR30A + 0.464%), 05/15/2033 |  | 575106 | 0.2 |
| 2860462 <sup>(3)</sup> | Freddie Mac REMIC Trust 3114 PF, 4.887%, (SOFR30A + 0.514%), 02/15/2036 |  | 2841617 | 0.7 |
| 4065182 <sup>(3)</sup> | Freddie Mac REMIC Trust 3136 FA, 5.037%, (SOFR30A + 0.664%), 04/15/2036 |  | 4055552 | 1.1 |
| 820537 <sup>(3)</sup> | Freddie Mac REMIC Trust 3153 UF, 4.917%, (SOFR30A + 0.544%), 05/15/2036 |  | 816243 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 316011 <sup>(3)</sup> | Freddie Mac REMIC Trust 3255 FA, 4.767%, (SOFR30A + 0.394%), 12/15/2036 | $312321 | 0.1 |
| 18328 <sup>(3)</sup> | Freddie Mac REMIC Trust 3747 FA, 4.987%, (SOFR30A + 0.614%), 10/15/2040 | 18205 | 0 |
| 386378 <sup>(3)</sup> | Freddie Mac REMIC Trust 4879 DF, 4.887%, (SOFR30A + 0.514%), 08/15/2034 | 384119 | 0.1 |
| 1720091 <sup>(3)</sup> | Freddie Mac REMIC Trust 5481 FA, 5.756%, (SOFR30A + 1.400%), 12/25/2054 | 1732943 | 0.5 |
| 1749945 <sup>(3)</sup> | Freddie Mac REMIC Trust 5483 FD, 5.656%, (SOFR30A + 1.300%), 12/25/2054 | 1759163 | 0.5 |
| 1163535 <sup>(3)</sup> | Freddie Mac REMIC Trust 5499 FX, 5.756%, (SOFR30A + 1.400%), 02/25/2055 | 1172987 | 0.3 |
| 911461 <sup>(3)</sup> | Freddie Mac REMIC Trust 5502 BF, 6.006%, (SOFR30A + 1.650%), 02/25/2055 | 924851 | 0.2 |
| 3800000 <sup>(3)</sup> | Freddie Mac REMIC Trust 5583 FA, 5.605%, (SOFR30A + 1.250%), 10/25/2055 | 3804653 | 1 |
| 3466612 <sup>(3)</sup> | Freddie Mac Strips 406 F43, 5.156%, (SOFR30A + 0.800%), 10/25/2053 | 3468668 | 0.9 |
| 2922870 <sup>(3)</sup> | Freddie Mac Strips 406 F44, 5.356%, (SOFR30A + 1.000%), 10/25/2053 | 2938699 | 0.8 |
| 519906 <sup>(3)</sup> | Ginnie Mae 2010-H11 FA, 5.429%, (TSFR1M + 1.114%), 06/20/2060 | 523347 | 0.1 |
| 55746 <sup>(3)</sup> | Ginnie Mae 2011-H03 FA, 4.966%, (TSFR1M + 0.614%), 01/20/2061 | 55773 | 0 |
| 14712 <sup>(3)</sup> | Ginnie Mae 2011-H05 FA, 4.966%, (TSFR1M + 0.614%), 12/20/2060 | 14720 | 0 |
| 152132 <sup>(3)</sup> | Ginnie Mae 2011-H05 FB, 4.966%, (TSFR1M + 0.614%), 12/20/2060 | 152324 | 0 |
| 243425 <sup>(3)</sup> | Ginnie Mae 2011-H06 FA, 4.916%, (TSFR1M + 0.564%), 02/20/2061 | 243400 | 0.1 |
| 180542 <sup>(3)</sup> | Ginnie Mae 2011-H07 FA, 4.966%, (TSFR1M + 0.614%), 02/20/2061 | 180631 | 0 |
| 23564 <sup>(3)</sup> | Ginnie Mae 2011-H08 FD, 4.966%, (TSFR1M + 0.614%), 02/20/2061 | 23575 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 199780 <sup>(3)</sup> | Ginnie Mae 2011-H08 FG, 4.946%, (TSFR1M + 0.594%), 03/20/2061 | $| 199853 | 0.1 |
| 137049 <sup>(3)</sup> | Ginnie Mae 2011-H09 AF, 4.966%, (TSFR1M + 0.614%), 03/20/2061 |  | 137110 | 0 |
| 81425 <sup>(3)</sup> | Ginnie Mae 2012-H18 NA, 4.986%, (TSFR1M + 0.634%), 08/20/2062 |  | 81434 | 0 |
| 190073 <sup>(3)</sup> | Ginnie Mae 2012-H23 WA, 4.986%, (TSFR1M + 0.634%), 10/20/2062 |  | 190394 | 0.1 |
| 204946 | Ginnie Mae 2014-3 EP, 2.750%, 02/16/2043 |  | 197549 | 0.1 |
| 158203 <sup>(3)</sup> | Ginnie Mae 2014-53 JM, 6.950%, 04/20/2039 |  | 167829 | 0 |
| 1154193 <sup>(3)</sup> | Ginnie Mae 2015-H32 FH, 5.126%, (TSFR1M + 0.774%), 12/20/2065 |  | 1157033 | 0.3 |
| 934860 <sup>(3)</sup> | Ginnie Mae 2016-H16 FE, 5.161%, (TSFR12M + 1.095%), 06/20/2066 |  | 943469 | 0.2 |
| 438694 <sup>(3)</sup> | Ginnie Mae 2017-H06 FE, 5.016%, (TSFR1M + 0.664%), 02/20/2067 |  | 438920 | 0.1 |
| 279615 <sup>(3)</sup> | Ginnie Mae 2017-H07 FG, 4.926%, (TSFR1M + 0.574%), 02/20/2067 |  | 279586 | 0.1 |
| 1104685 | Ginnie Mae 2023-86 DA, 5.500%, 08/20/2050 |  | 1112981 | 0.3 |
| 1169081 <sup>(3)</sup> | Ginnie Mae 2025-9 FE, 5.639%, (SOFR30A + 1.250%), 01/20/2055 |  | 1173176 | 0.3 |
| 873764 <sup>(2)(3)</sup> | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 |  | 718905 | 0.2 |
| 591405 <sup>(2)(3)</sup> | PMT Loan Trust 2025-INV8 A2, 5.500%, 07/25/2056 |  | 596903 | 0.2 |
| 1090032 | Seasoned Credit Risk Transfer Trust Series 2018-2 MA, 3.500%, 11/25/2057 |  | 1065340 | 0.3 |
|  | Total Collateralized Mortgage Obligations |  |  |  |
|  | (Cost $44,577,910) |  | **44903933** | **11.7** |
| **U.S. TREASURY OBLIGATIONS: 4.1%** | **U.S. TREASURY OBLIGATIONS: 4.1%** | **U.S. TREASURY OBLIGATIONS: 4.1%** | **U.S. TREASURY OBLIGATIONS: 4.1%** | **U.S. TREASURY OBLIGATIONS: 4.1%** |
|  | **United States Treasury Notes: 4.1%** | **United States Treasury Notes: 4.1%** | **United States Treasury Notes: 4.1%** | **United States Treasury Notes: 4.1%** |
| 2787900 | 3.375%, 09/15/2028 |  | 2769060 | 0.7 |
| 7638800 | 3.500%, 09/30/2027 |  | 7622687 | 2 |
| 3595200 | 3.625%, 09/30/2030 |  | 3577083 | 0.9 |
| 1897800 | 3.875%, 09/30/2032 |  | 1891721 | 0.5 |
| 21300 | 4.250%, 08/15/2035 |  | 21475 | 0 |
|  |  |  | **15882026** | **4.1** |
|  | Total U.S. Treasury Obligations |  |  |  |
|  | (Cost $15,886,987) |  | **15882026** | **4.1** |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.1%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.1%** |
|  | **Federal Home Loan Mortgage Corporation: 0.1%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 0.1%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 0.1%<sup>(4)</sup>** |
| 9722 | 5.500%, 01/01/2037 | $10101 | 0 |
| 4848 | 5.500%, 10/01/2038 | 5004 | 0 |
| 81363 | 5.500%, 11/01/2038 | 84605 | 0.1 |
| 80915 | 5.500%, 02/01/2039 | 83376 | 0 |
|  |  | **183086** | **0.1** |
|  | **Uniform Mortgage-Backed Securities: 0.0%** | **Uniform Mortgage-Backed Securities: 0.0%** | **Uniform Mortgage-Backed Securities: 0.0%** |
| 9 | 5.000%, 03/01/2027 | 9 | 0 |
| 62424 | 5.000%, 05/01/2042 | 64038 | 0 |
|  |  | **64047** | **0.0** |
|  | Total U.S. Government Agency Obligations |  |  |
|  | (Cost $252,861) | **247133** | **0.1** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $354,587,069) | **357843895** | **93.5** |
|  |  |  | **Percentage** |
| **Principal** |  |  | **of Net** |
| **Amount**† | **RA** | **Value** | **Assets** |
| **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** |
|  | **Commercial Paper: 7.7%** | **Commercial Paper: 7.7%** | **Commercial Paper: 7.7%** |
| 3000000 | Agilent Technologies, 4.330%, 10/09/2025 | 2996799 | 0.8 |
| 2500000 | AutoZone, Inc., D, 4.270%, 10/06/2025 | 2498248 | 0.7 |
| 2500000 | Dominion Res, Inc., 4.320%, 10/14/2025 | 2495860 | 0.6 |
| 1800000 | Duke Energy Co., 2.120%, 10/02/2025 | 1799791 | 0.5 |
| 2000000 | Duke Energy Co., 4.270%, 10/20/2025 | 1995329 | 0.5 |
| 4000000 | Entergy Corp., 4.270%, 10/01/2025 | 3999531 | 1 |
| 1500000 | Fiserv, Inc., 4.360%, 10/10/2025 | 1498212 | 0.4 |
| 4000000 | Kellanova, 4.360%, 10/14/2025 | 3993328 | 1 |
| 5200000 | McCormick & Company, Inc, 4.220%, 10/01/2025 | 5199399 | 1.4 |
| 3000000 | Oracle Corp., 4.310%, 11/21/2025 | 2981676 | 0.8 |
|  | Total Commercial Paper |  |  |
|  | (Cost $29,461,010) | **29458173** | **7.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount**† | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements: 1.1%** | **Repurchase Agreements: 1.1%** | **Repurchase Agreements: 1.1%** |
| 23250 <sup>(5)</sup> | Bank of America Securities Inc., Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $23,253, collateralized by various U.S. Government Securities, 0.000%-4.625%, Market Value plus accrued interest $23,715, due 11/15/41-05/15/54) | $23250 | 0.0 |
| 1158411 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $1,158,545, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $1,181,593, due 08/27/27-09/01/55) | 1158411 | 0.3 |
| 1091084 <sup>(5)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.220%, due 10/01/2025 (Repurchase Amount $1,091,210, collateralized by various U.S. Government Agency Obligations, 1.923%-6.500%, Market Value plus accrued interest $1,112,906, due 08/01/32-06/01/64) | 1091084 | 0.3 |
| 135173 <sup>(5)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $135,189, collateralized by various U.S. Government Securities, 0.000%-4.000%, Market Value plus accrued interest $137,876, due 07/15/26-08/15/54) | 135173 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount**† | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 336913 <sup>(5)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $336,952, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $343,651, due 12/31/31-05/31/32) | $336913 | 0.1 |
| 20403 <sup>(5)</sup> | Mizuho Securities USA LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $20,405, collateralized by various U.S. Government Securities, 0.750%-4.375%, Market Value plus accrued interest $20,811, due 05/31/26-09/30/32) | 20403 | 0.0 |
| 465804 <sup>(5)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $465,857, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $475,120, due 11/18/25-08/15/55) | 465804 | 0.1 |
| 149924 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $149,941, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $152,922, due 10/23/25-08/15/55) | 149924 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount**† | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 1000000 <sup>(5)</sup> | State of Wisconsin Investment Board, Repurchase Agreement dated 09/30/2025, 4.290%, due 10/01/2025 (Repurchase Amount $1,000,118, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $1,018,129, due 10/15/26-02/15/54) | $| 1000000 | 0.3 |
|  | Total Repurchase Agreements |  |  |  |
|  | (Cost $4,380,962) |  | **4380962** | **1.1** |
|  | **Time Deposits: 0.2%** | **Time Deposits: 0.2%** | **Time Deposits: 0.2%** | **Time Deposits: 0.2%** |
| 110000 <sup>(5)</sup> | Canadian Imperial Bank of Commerce, 4.090%, 10/01/2025 |  | 110000 | 0.0 |
| 100000 <sup>(5)</sup> | DZ Bank AG, 4.080%, 10/01/2025 |  | 100000 | 0.0 |
| 100000 <sup>(5)</sup> | HSBC Bank PLC, 4.130%, 10/01/2025 |  | 100000 | 0.0 |
| 110000 <sup>(5)</sup> | Landesbank Hessen Thueringen Girozentrale, 4.100%, 10/01/2025 |  | 110000 | 0.0 |
| 110000 <sup>(5)</sup> | Mizuho Bank Ltd., 4.100%, 10/01/2025 |  | 110000 | 0.1 |
| 110000 <sup>(5)</sup> | Royal Bank of Canada, 4.140%, 10/01/2025 |  | 110000 | 0.1 |
| 110000 <sup>(5)</sup> | Societe Generale S.A., 4.090%, 10/01/2025 |  | 110000 | 0.0 |
|  | Total Time Deposits |  |  |  |
|  | (Cost $750,000) |  | **750000** | **0.2** |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | Mutual Funds: 0.1% | Mutual Funds: 0.1% | Mutual Funds: 0.1% |
| 339000 <sup>(6)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 4.050% |  |  |
|  | (Cost $339,000) | $**339000** | **0.1** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $34,930,972) | $**34928135** | **9.1** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $389,518,041)** | $**392772030** | **102.6** |
|  | **Liabilities in Excess of Other Assets** | **(9941858)** | **(2.6)** |
|  | **Net Assets** | $**382830172** | **100.0** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Security, or a portion of the security, is on loan. |
| <sup>(2)</sup> | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
| <sup>(3)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>(4)</sup> | The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. |
| <sup>(5)</sup> | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| <sup>(6)</sup> | Rate shown is the 7-day yield as of September 30, 2025. |

---

Reference Rate Abbreviations:

---

| | |
|:---|:---|
| SOFR30A | 30-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
| TSFR12M | 12-month CME Term Secured Overnight Financing Rate |

---

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices<br> in Active Markets<br> for Identical<br> Investments<br> (Level 1)** | **Significant Other<br> Observable<br> Inputs<br> (Level 2)** | **Significant<br> Unobservable<br> Inputs<br> (Level 3)** | **Fair Value<br> at<br> September 30,<br> 2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $181782368 | $&nbsp;&nbsp;&nbsp;&nbsp; — | $181782368 |
| Asset-Backed Securities |  | 63844274 |  | 63844274 |
| Commercial Mortgage-Backed Securities |  | 51184161 |  | 51184161 |
| Collateralized Mortgage Obligations |  | 44903933 |  | 44903933 |
| U.S. Treasury Obligations |  | 15882026 |  | 15882026 |
| U.S. Government Agency Obligations |  | 247133 |  | 247133 |
| Short-Term Investments | 339000 | 34589135 |  | 34928135 |
| Total Investments, at fair value | $339000 | $392433030 | $— | $392772030 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 229106 |  |  | 229106 |
| Total Assets | $568106 | $392433030 | $— | $393001136 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | $(255739) | $— | $— | $(255739) |
| Written Options |  | (13484) |  | (13484) |
| Total Liabilities | $(255739) | $(13484) | $— | $(269223) |

---

^ See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

---

| | |
|:---|:---|
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following futures contracts were outstanding for Voya Short Duration Bond Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number<br> of Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| <u>Long Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 1022 | 12/31/25 | $212983203 | $(99469) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | 32 | 12/19/25 | 3682500 | (17566) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 31 | 12/19/25 | 3721938 | 96806 |
|  |  |  | $220387641 | $(20229) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | (304) | 12/31/25 | (33195375) | 72151 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (79) | 12/19/25 | (8887500) | 60149 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (66) | 12/19/25 | (7695188) | (138704) |
|  |  |  | $(49778063) | $(6404) |

---

At September 30, 2025, the following OTC written credit default swaptions were outstanding for Voya Short Duration Bond Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Reference Entity** | **Exercise<br> Rate (%)** | **(Pay)/<br> Receive<br> Exercise<br> Rate** | **Strike<br> Price** | **Expiration<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Premiums<br> Received** | **Fair<br> Value** |
| Put on 5-Year Credit Default Swap | Goldman Sachs International | CDX North American High Yield, Series 44, Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 3841000 | $20073 | $(13484) |
|  |  |  |  |  |  |  |  |  | $20073 | $(13484) |

---

Currency Abbreviations:

USD — United States Dollar

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

---

| | | |
|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Location on Statement<br> of Assets and Liabilities** | **Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*</sup> | $229106 |
| **Total Asset Derivatives** |  | $229106 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $255739 |
| Credit contracts | Written options, at fair value | 13484 |
| **Total Liability Derivatives** |  | $269223 |

---

\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $— | $(37803) | $— | $(37803) |
| Interest rate contracts | 820796 |  | 347913 | 1168709 |
| **Total** | $820796 | $(37803) | $347913 | $1130906 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** |<br>**Futures** | **Written**<br>**options** |<br>**Total** |
| Credit contracts | $— | $8478 | $8478 |
| Interest rate contracts | (686000) |  | (686000) |
| **Total** | $(686000) | $8478 | $(677522) |

---

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at September 30, 2025:

---

| | |
|:---|:---|
|  | **Goldman**<br>**Sachs**<br>**International** |
| **Liabilities:** |  |
| Written options | $13484 |
| **Total Liabilities** | $13484 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(13484) |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $— |
| **Net Exposure<sup>(1)</sup>** | $(13484) |

---

<sup>(1)</sup> Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features.

See Accompanying Notes to Financial Statements

Voya Short Duration Bond Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $390,323,111.

---

| | |
|:---|:---|
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $2591111 |
| Gross Unrealized Depreciation | (182308) |
| Net Unrealized Appreciation | $2408803 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: 87.4%** | **CORPORATE BONDS/NOTES: 87.4%** |  |  |
|  | **Basic Materials: 2.2%** |  |  |
| 550000 <sup>(1)</sup> | Alumina Pty Ltd., 6.125%, 03/15/2030 | $562961 | 0.2 |
| 4000000 <sup>(2)</sup> | Celanese US Holdings LLC, 6.500%, 04/15/2030 | 4029455 | 1.6 |
| 1000000 <sup>(1)(2)</sup> | Novelis, Inc., 6.875%, 01/30/2030 | 1037804 | 0.4 |
|  |  | **5630220** | **2.2** |
|  | **Communications: 8.2%** |  |  |
| 1500000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 1486793 | 0.6 |
| 1000000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 994080 | 0.4 |
| 3000000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 2998376 | 1.2 |
| 1500000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 1483457 | 0.6 |
| 2750000 <sup>(1)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 10.000%, 02/15/2031 | 2748026 | 1.1 |
| 4300000 <sup>(1)</sup> | Gen Digital, Inc., 6.750%, 09/30/2027 | 4369750 | 1.7 |
| 1500000 <sup>(1)</sup> | ION Trading Technologies Sarl, 5.750%, 05/15/2028 | 1477820 | 0.6 |
| 3250000 <sup>(1)</sup> | ION Trading Technologies Sarl, 9.500%, 05/30/2029 | 3448816 | 1.4 |
| 1500000 <sup>(1)</sup> | Univision Communications, Inc., 8.000%, 08/15/2028 | 1555507 | 0.6 |
|  |  | **20562625** | **8.2** |
|  | **Consumer, Cyclical: 23.1%** |  |  |
| 1000000 <sup>(1)</sup> | Dream Finders Homes, Inc., 6.875%, 09/15/2030 | 1006890 | 0.4 |
| 1000000 <sup>(1)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 1099796 | 0.4 |
| 2000000 | Ford Motor Credit Co. LLC, 5.875%, 11/07/2029 | 2035451 | 0.8 |
| 2000000 | Ford Motor Credit Co. LLC, 6.950%, 03/06/2026 | 2016152 | 0.8 |
| 3500000 <sup>(1)</sup> | Gates Corp., 6.875%, 07/01/2029 | 3636150 | 1.4 |
| 4950000 <sup>(1)</sup> | Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/2029 | 5226507 | 2.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 3500000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | $3554055 | 1.4 |
| 1500000 <sup>(1)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 1537364 | 0.6 |
| 3750000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 04/01/2029 | 3830047 | 1.5 |
| 3750000 <sup>(1)(2)</sup> | JetBlue Airways Corp. / JetBlue Loyalty L.P., 9.875%, 09/20/2031 | 3806726 | 1.5 |
| 1000000 <sup>(1)</sup> | Lithia Motors, Inc., 5.500%, 10/01/2030 | 999495 | 0.4 |
| 2000000 | MGM Resorts International, 5.500%, 04/15/2027 | 2014304 | 0.8 |
| 750000 | MGM Resorts International, 6.125%, 09/15/2029 | 763888 | 0.3 |
| 3118000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 3123678 | 1.2 |
| 1500000 <sup>(1)</sup> | NCL Corp. Ltd., 5.875%, 01/15/2031 | 1501024 | 0.6 |
| 1200000 <sup>(1)</sup> | OneSky Flight LLC, 8.875%, 12/15/2029 | 1263016 | 0.5 |
| 1000000 <sup>(1)</sup> | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp., 6.250%, 10/15/2030 | 1009541 | 0.4 |
| 5587000 <sup>(1)</sup> | Saks Global Enterprises LLC, 11.000%, 12/15/2029 | 2905240 | 1.2 |
| 4000000 <sup>(1)</sup> | Specialty Building Products Holdings LLC / SBP Finance Corp., 7.750%, 10/15/2029 | 4066952 | 1.6 |
| 250000 | Suburban Propane Partners L.P./Suburban Energy Finance Corp., 5.875%, 03/01/2027 | 249487 | 0.1 |
| 2500000 <sup>(1)</sup> | Vail Resorts, Inc., 5.625%, 07/15/2030 | 2517187 | 1 |
| 5233000 <sup>(1)(2)</sup> | Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/2029 | 5494012 | 2.2 |
| 750000 <sup>(1)(2)</sup> | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 7.875%, 05/01/2027 | 762355 | 0.3 |
| 3750000 <sup>(1)(2)</sup> | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/2028 | 3907386 | 1.6 |
|  |  | **58326703** | **23.1** |

---

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Non-cyclical: 15.3%** |  |  |
| 5662000 <sup>(1)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | $5870362 | 2.3 |
| 500000 <sup>(1)</sup> | Block, Inc., 5.625%, 08/15/2030 | 506954 | 0.2 |
| 2500000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 2574935 | 1 |
| 1000000 <sup>(1)</sup> | Dcli Bidco LLC, 7.750%, 11/15/2029 | 1040722 | 0.4 |
| 1300000 | HCA, Inc., 5.875%, 02/15/2026 | 1301710 | 0.5 |
| 1750000 <sup>(1)</sup> | Herc Holdings, Inc., 5.500%, 07/15/2027 | 1746931 | 0.7 |
| 1000000 <sup>(1)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 1039541 | 0.4 |
| 1000000 <sup>(1)</sup> | IQVIA, Inc., 5.000%, 10/15/2026 | 999675 | 0.4 |
| 3000000 <sup>(1)</sup> | IQVIA, Inc., 5.000%, 05/15/2027 | 2994378 | 1.2 |
| 3550000 <sup>(1)</sup> | Mobius Merger Sub, Inc., 9.000%, 06/01/2030 | 2978044 | 1.2 |
| 4620000 | Tenet Healthcare Corp., 6.250%, 02/01/2027 | 4622355 | 1.9 |
| 4000000 <sup>(1)</sup> | United Rentals North America, Inc., 6.000%, 12/15/2029 | 4122076 | 1.7 |
| 3000000 <sup>(1)</sup> | US Foods, Inc., 6.875%, 09/15/2028 | 3095706 | 1.2 |
| 2500000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 06/15/2029 | 2559437 | 1 |
| 3000000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 3090690 | 1.2 |
|  |  | **38543516** | **15.3** |
|  | **Energy: 9.0%** |  |  |
| 600000 <sup>(1)</sup> | CITGO Petroleum Corp., 8.375%, 01/15/2029 | 625015 | 0.3 |
| 3992000 <sup>(1)</sup> | CVR Energy, Inc., 8.500%, 01/15/2029 | 4083090 | 1.6 |
| 2000000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 2009274 | 0.8 |
| 1500000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 1565325 | 0.6 |
| 5000000 <sup>(1)</sup> | Excelerate Energy L.P., 8.000%, 05/15/2030 | 5326220 | 2.1 |
| 3750000 | Global Partners L.P. / GLP Finance Corp., 6.875%, 01/15/2029 | 3785479 | 1.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Energy: (continued)** |  |  |
| 5064000 <sup>(1)</sup> | Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/2028 | $5224341 | 2.1 |
|  |  | **22618744** | **9.0** |
|  | **Financial: 14.9%** |  |  |
| 2500000 <sup>(1)</sup> | CrossCountry Intermediate HoldCo LLC, 6.500%, 10/01/2030 | 2512324 | 1 |
| 1000000 <sup>(1)</sup> | Freedom Mortgage Corp., 12.000%, 10/01/2028 | 1060000 | 0.4 |
| 2750000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 9.250%, 02/01/2029 | 2895573 | 1.2 |
| 1500000 <sup>(1)(2)</sup> | HAT Holdings I LLC / HAT Holdings II LLC, 3.750%, 09/15/2030 | 1384278 | 0.6 |
| 250000 <sup>(1)</sup> | Iron Mountain, Inc., 7.000%, 02/15/2029 | 257824 | 0.1 |
| 3650000 <sup>(1)</sup> | LD Holdings Group LLC, 8.750%, 11/01/2027 | 3610922 | 1.4 |
| 4000000 <sup>(1)</sup> | Macquarie Airfinance Holdings Ltd., 8.125%, 03/30/2029 | 4164881 | 1.7 |
| 1000000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 6.000%, 01/15/2027 | 1000000 | 0.4 |
| 1000000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 6.500%, 08/01/2029 | 1029228 | 0.4 |
| 500000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.125%, 11/15/2030 | 521076 | 0.2 |
| 4500000 <sup>(1)</sup> | Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/2029 | 4758678 | 1.9 |
| 1000000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 1032370 | 0.4 |
| 3250000 <sup>(1)</sup> | Rocket Cos., Inc., 6.125%, 08/01/2030 | 3337929 | 1.3 |
| 1500000 | SLM Corp., 6.500%, 01/31/2030 | 1564309 | 0.6 |
| 1000000 <sup>(1)</sup> | TrueNoord Capital DAC, 8.750%, 03/01/2030 | 1063479 | 0.4 |
| 2250000 <sup>(1)</sup> | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 2250656 | 0.9 |
| 1000000 <sup>(1)</sup> | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | 1000226 | 0.4 |
| 1500000 <sup>(1)</sup> | UWM Holdings LLC, 6.625%, 02/01/2030 | 1527245 | 0.6 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 2500000 <sup>(1)</sup> | XHR L.P., 6.625%, 05/15/2030 | $2571808 | 1 |
|  |  | **37542806** | **14.9** |
|  | **Industrial: 6.9%** |  |  |
| 3500000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 3605489 | 1.4 |
| 1900000 <sup>(1)</sup> | Axon Enterprise, Inc., 6.125%, 03/15/2030 | 1956102 | 0.8 |
| 4064000 <sup>(1)</sup> | Esab Corp., 6.250%, 04/15/2029 | 4180039 | 1.7 |
| 1000000 <sup>(2)</sup> | Hillenbrand, Inc., 6.250%, 02/15/2029 | 1026502 | 0.4 |
| 4100000 <sup>(1)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 4159848 | 1.6 |
| 2500000 <sup>(1)</sup> | WESCO Distribution, Inc., 7.250%, 06/15/2028 | 2534612 | 1 |
|  |  | **17462592** | **6.9** |
|  | **Technology: 1.9%** |  |  |
| 2702000 <sup>(1)</sup> | Consensus Cloud Solutions, Inc., 6.000%, 10/15/2026 | 2699393 | 1 |
| 2200000 <sup>(1)</sup> | Consensus Cloud Solutions, Inc., 6.500%, 10/15/2028 | 2211640 | 0.9 |
|  |  | **4911033** | **1.9** |
|  | **Utilities: 5.9%** |  |  |
| 4300000 <sup>(1)</sup> | AmeriGas Partners L.P. / AmeriGas Finance Corp., 9.375%, 06/01/2028 | 4420895 | 1.7 |
| 500000 <sup>(1)</sup> | AmeriGas Partners L.P. / AmeriGas Finance Corp., 9.500%, 06/01/2030 | 523869 | 0.2 |
| 4500000 <sup>(1)</sup> | ContourGlobal Power Holdings SA, 6.750%, 02/28/2030 | 4679955 | 1.9 |
| 5000000 | NRG Energy, Inc., 5.750%, 01/15/2028 | 5014383 | 2 |
| 250000 <sup>(1)</sup> | NRG Energy, Inc., 5.750%, 07/15/2029 | 251549 | 0.1 |
|  |  | **14890651** | **5.9** |
|  | Total Corporate Bonds/ Notes |  |  |
|  | (Cost $220,500,899) | **220488890** | **87.4** |
| **BANK LOANS: 6.6%** | **BANK LOANS: 6.6%** |  |  |
|  | **Communications: 2.3%** |  |  |
| 1820000 | Directv Financing LLC, Term Loan, 9.808%, (TSFR3M+5.500%), 02/17/2031 | 1783979 | 0.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |  |  |
|  | **Communications: (continued)** |  |  |
| 3989924 <sup>(3)</sup> | Summer (BC), Tranche B, 02/21/2029 | $3950025 | 1.6 |
|  |  | **5734004** | **2.3** |
|  | **Consumer, Cyclical: 0.0%** |  |  |
| 109725 | Gategroup Finance, Senior Facility B (USD) Loan, 8.556%, (TSFR3M+4.250%), 06/10/2032 | 109759 | 0.0 |
|  | **Financial: 2.3%** |  |  |
| 6000000 | Asurion LLC, 2021 Second Lien Term Loan B4, 9.528%, (TSFR1M+5.250%), 01/20/2029 | 5757324 | 2.3 |
|  | **Industrial: 2.0%** |  |  |
| 4970000 | Quikrete Holdings, Inc., 2025 Term Loan B, 6.413%, (TSFR1M+2.250%), 02/10/2032 | 4973728 | 2.0 |
|  | Total Bank Loans |  |  |
|  | (Cost $16,518,502) | **16574815** | **6.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COMMON STOCK: 0.0%** | **COMMON STOCK: 0.0%** |  |  |
|  | **Business Equipment & Services: 0.0%** | **Business Equipment & Services: 0.0%** |  |
| 30272 <sup>(4)</sup> | Yak Access LLC Series A | 302 | 0.0 |
| 5388 <sup>(4)</sup> | Yak Access LLC Series B | 54 | 0.0 |
|  |  | **356** | **0.0** |
|  | **Consumer Discretionary: 0.0%** |  |  |
| 1651797 <sup>(4)</sup> | 24 Hour Fitness Worldwide, Inc. | 16518 | 0.0 |
| 42856 <sup>(4)</sup> | Anchor Hocking Holdings | 429 | 0.0 |
| 188 <sup>(4)</sup> | Travelport Tech Ltd. | 62914 | 0.0 |
|  |  | **79861** | **0.0** |
|  | Total Common Stock |  |  |
|  | (Cost $2,261,108) | **80217** | **0.0** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $239,280,509) | **237143922** | **94.0** |

---

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **SHORT-TERM INVESTMENTS: 10.9%** | **SHORT-TERM INVESTMENTS: 10.9%** |  |  |
|  | **Repurchase Agreements: 5.6%** |  |  |
| 3814522 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $3,814,962, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $3,890,859, due 08/27/27-09/01/55) | $3814522 | 1.5 |
| 161224 <sup>(5)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $161,243, collateralized by various U.S. Government Securities, 0.000%-4.000%, Market Value plus accrued interest $164,448, due 07/15/26-08/15/54) | 161224 | 0.1 |
| 3814522 <sup>(5)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.220%, due 10/01/2025 (Repurchase Amount $3,814,963, collateralized by various U.S. Government Agency Obligations, 1.923%-6.500%, Market Value plus accrued interest $3,890,813, due 08/01/32-06/01/64) | 3814522 | 1.5 |
| 303748 <sup>(5)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $303,783, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $309,823, due 12/31/31-05/31/32) | 303748 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |  |  |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 419952 <sup>(5)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $420,000, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $428,351, due 11/18/25-08/15/55) | $419952 | 0.2 |
| 1898967 <sup>(5)</sup> | Nomura Securities International, Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $1,899,186, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $1,936,946, due 11/01/25-09/01/55) | 1898967 | 0.7 |
| 135166 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $135,182, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $137,869, due 10/23/25-08/15/55) | 135166 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |  |  |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 3640989 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $3,641,408, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.625%-7.000%, Market Value plus accrued interest $3,713,810, due 01/15/29-10/01/55) | $3640989 | 1.4 |
|  | Total Repurchase Agreements |  |  |
|  | (Cost $14,189,090) | **14189090** | **5.6** |
|  | **Time Deposits: 1.1%** |  |  |
| 410000 <sup>(5)</sup> | Canadian Imperial Bank of Commerce, 4.090%, 10/01/2025 | 410000 | 0.2 |
| 380000 <sup>(5)</sup> | DZ Bank AG, 4.080%, 10/01/2025 | 380000 | 0.1 |
| 370000 <sup>(5)</sup> | HSBC BANK PLC, 4.130%, 10/01/2025 | 370000 | 0.1 |
| 400000 <sup>(5)</sup> | Landesbank Hessen Thueringen Girozentrale, 4.100%, 10/01/2025 | 400000 | 0.1 |
| 410000 <sup>(5)</sup> | Mizuho Bank Ltd., 4.100%, 10/01/2025 | 410000 | 0.2 |
| 410000 <sup>(5)</sup> | Royal Bank of Canada, 4.140%, 10/01/2025 | 410000 | 0.2 |
| 410000 <sup>(5)</sup> | Societe Generale S.A., 4.090%, 10/01/2025 | 410000 | 0.2 |
|  | Total Time Deposits |  |  |
|  | (Cost $2,790,000) | **2790000** | **1.1** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 4.2%** |  |  |
| 10506248 <sup>(6)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.030% |  |  |
|  | (Cost $10,506,248) | $**10506248** | **4.2** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $27,485,338) | $**27485338** | **10.9** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $266,765,847)** | $**264629260** | **104.9** |
|  | **Liabilities in Excess of Other Assets** | **(12423244)** | **(4.9)** |
|  | **Net Assets** | $**252206016** | **100.0** |

---

† Unless
 otherwise indicated, principal amount is shown in USD.

<sup>(1)</sup> Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.

<sup>(2)</sup> Security, or a portion of the security, is on loan.

<sup>(3)</sup> Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined.

<sup>(4)</sup> For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.

<sup>(5)</sup> All or a portion of the security represents securities purchased with cash collateral received for securities on loan.

<sup>(6)</sup> Rate shown is the 7-day yield as of September 30, 2025.

Reference Rate Abbreviations:

TSFR1M 1-month CME Term Secured Overnight Financing Rate <br> TSFR3M 3-month CME Term Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

Voya Short Duration High Income Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $220488890 | $— | $220488890 |
| Bank Loans |  | 16574815 |  | 16574815 |
| Common Stock |  |  | 80217 | 80217 |
| Short-Term Investments | 10506248 | 16979090 |  | 27485338 |
| Total Investments, at fair value | $10506248 | $254042795 | $80217 | $264629260 |

---

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $266,765,847.

---

| | |
|:---|:---|
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $3712262 |
| Gross Unrealized Depreciation | (5848849) |
| Net Unrealized Depreciation | $(2136587) |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 27.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 27.7%** |  |  |
| 146616 <sup>(1)</sup> | Adjustable Rate Mortgage Trust 2006-2 1A1, 4.752%, 05/25/2036 | $127231 | 0.0 |
| 715452 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2015-2 B3, 3.616%, 03/25/2045 | 665861 | 0.0 |
| 475938 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2015-4 B3, 3.484%, 06/25/2045 | 386107 | 0.0 |
| 1063647 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2016-1 B3, 3.624%, 12/25/2045 | 911339 | 0.0 |
| 1000000 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2016-1 B4, 3.624%, 12/25/2045 | 771929 | 0.0 |
| 1137085 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2016-2 B4, 3.753%, 03/25/2046 | 874936 | 0.0 |
| 3089000 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 2944226 | 0.1 |
| 4734000 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 4586249 | 0.2 |
| 218890 <sup>(1)</sup> | Alternative Loan Trust 2004-J7 M1, 4.597%, (TSFR1M + 1.134%), 10/25/2034 | 218219 | 0.0 |
| 248772 <sup>(1)</sup> | Alternative Loan Trust 2005-10CB 1A2, 4.722%, (TSFR1M + 0.564%), 05/25/2035 | 184643 | 0.0 |
| 248778 | Alternative Loan Trust 2005-23CB A15, 5.500%, 07/25/2035 | 202095 | 0.0 |
| 15626 <sup>(1)</sup> | Alternative Loan Trust 2005-53T2 2A6, 4.772%, (TSFR1M + 0.614%), 11/25/2035 | 8012 | 0.0 |
| 141540 <sup>(1)</sup> | Alternative Loan Trust 2005-J2 1A12, 4.672%, (TSFR1M + 0.514%), 04/25/2035 | 108917 | 0.0 |
| 27837 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | 12746 | 0.0 |
| 440327 <sup>(1)</sup> | Alternative Loan Trust 2006-18CB A10, 4.672%, (TSFR1M + 0.514%), 07/25/2036 | 166839 | 0.0 |
| 103844 <sup>(1)</sup> | Alternative Loan Trust 2006-19CB A12, 4.672%, (TSFR1M + 0.514%), 08/25/2036 | 44539 | 0.0 |
| 439757 <sup>(1)</sup> | Alternative Loan Trust 2006-19CB A28, 4.872%, (TSFR1M + 0.714%), 08/25/2036 | 195127 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 766351 | Alternative Loan Trust 2006-27CB A5, 6.000%, 11/25/2036 | $402773 | 0.0 |
| 763443 | Alternative Loan Trust 2007-15CB A5, 5.750%, 07/25/2037 | 433385 | 0.0 |
| 110913 <sup>(1)</sup> | Alternative Loan Trust 2007-2CB 2A1, 4.872%, (TSFR1M + 0.714%), 03/25/2037 | 43741 | 0.0 |
| 134423 <sup>(1)</sup> | Alternative Loan Trust 2007-HY8C A1, 4.592%, (TSFR1M + 0.434%), 09/25/2047 | 124861 | 0.0 |
| 430568 <sup>(1)</sup> | Alternative Loan Trust 2007-OA4 A1, 4.612%, (TSFR1M + 0.454%), 05/25/2047 | 389574 | 0.0 |
| 277462 <sup>(1)(2)</sup> | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 267295 | 0.0 |
| 234469 <sup>(1)</sup> | Banc of America Funding Trust 2007-2 1A16, 4.872%, (TSFR1M + 0.714%), 03/25/2037 | 177594 | 0.0 |
| 1055443 <sup>(1)</sup> | Banc of America Funding Trust 2007-C 7A1, 4.670%, (TSFR1M + 0.534%), 05/20/2047 | 979389 | 0.0 |
| 82569 <sup>(1)</sup> | Bear Stearns ALT-A Trust 2005-3 4A3, 4.281%, 04/25/2035 | 80650 | 0.0 |
| 347857 <sup>(1)</sup> | Bear Stearns ALT-A Trust 2006-6 31A1, 4.467%, 11/25/2036 | 197823 | 0.0 |
| 497726 <sup>(1)</sup> | Bear Stearns ALT-A Trust 2006-6 32A1, 4.475%, 11/25/2036 | 253414 | 0.0 |
| 63234 <sup>(1)</sup> | Bear Stearns Structured Products, Inc. Trust 2007-R6 1A1, 4.972%, 01/26/2036 | 44822 | 0.0 |
| 1911842 <sup>(2)</sup> | Brean Asset Backed Securities Trust 2024-RM9 A1, 5.000%, 09/25/2064 | 1900361 | 0.1 |
| 1109957 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust 2019-1 B3, 3.880%, 03/25/2050 | 991276 | 0.1 |
| 102566 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust 2019-ATR2 A3, 3.500%, 07/25/2049 | 93207 | 0.0 |
| 1973902 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust 2024-8 B3, 7.083%, 08/25/2055 | 2062541 | 0.1 |
| 650934 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-1 A9, 6.500%, 01/25/2055 | 660068 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 2294291 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-11 B3, 6.596%, 11/25/2055 | $2312086 | 0.1 |
| 1580943 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 A9, 6.000%, 03/25/2055 | 1595839 | 0.1 |
| 2532925 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 B2, 6.164%, 03/25/2055 | 2563014 | 0.1 |
| 1783008 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 B3, 6.164%, 03/25/2055 | 1753191 | 0.1 |
| 983530 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2024-6 B3, 7.076%, 05/25/2055 | 1025947 | 0.1 |
| 216246 <sup>(1)</sup> | Chase Mortgage Finance Trust Series 2006-A1 2A3, 5.277%, 09/25/2036 | 193768 | 0.0 |
| 190068 <sup>(1)</sup> | CHL Mortgage Pass-Through Trust 2005-HYB9 2A1, 6.449%, (TSFR12M + 2.465%), 02/20/2036 | 177066 | 0.0 |
| 1411162 <sup>(1)(2)</sup> | CHNGE Mortgage Trust 2022-1 A1, 3.007%, 01/25/2067 | 1366647 | 0.1 |
| 71273 <sup>(1)(2)</sup> | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 68447 | 0.0 |
| 112854 <sup>(1)(2)</sup> | CIM Trust 2019-INV2 A3, 4.000%, 05/25/2049 | 106900 | 0.0 |
| 127219 <sup>(1)(2)</sup> | CIM Trust 2019-INV3 A15, 3.500%, 08/25/2049 | 116126 | 0.0 |
| 190829 <sup>(1)(2)</sup> | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 174189 | 0.0 |
| 1380104 <sup>(1)(2)</sup> | CIM Trust 2019-J1 3.921%, 08/25/2049 B3, | 1280646 | 0.1 |
| 2748739 <sup>(1)(2)</sup> | CIM Trust 2019-J2 3.765%, 10/25/2049 B2, | 2511650 | 0.1 |
| 1727595 <sup>(1)(2)</sup> | CIM Trust 2019-J2 3.765%, 10/25/2049 B3, | 1578833 | 0.1 |
| 1132371 <sup>(1)(2)</sup> | CIM Trust 2020-J2 2.752%, 01/25/2051 B3, | 919084 | 0.0 |
| 1687338 <sup>(1)(2)</sup> | CIM Trust 2021-J3 2.613%, 06/25/2051 B3, | 1343398 | 0.1 |
| 331249 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | 306017 | 0.0 |
| 59443 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2006-AR2 1A1, 5.778%, 03/25/2036 | 44457 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 23272 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.524%, 11/25/2036 | $20725 | 0.0 |
| 114583 <sup>(1)(2)</sup> | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 112691 | 0.0 |
| 2558795 <sup>(2)</sup> | Citigroup Mortgage Loan Trust 2024-1 B3, 6.715%, 07/25/2054 | 2607442 | 0.1 |
| 1390853 <sup>(2)</sup> | Citigroup Mortgage Loan Trust 2024-CMI1 B2, 6.410%, 06/25/2054 | 1408309 | 0.1 |
| 22238 <sup>(1)</sup> | Citigroup Mortgage Loan Trust, Inc. 2005-4 A, 5.805%, 08/25/2035 | 22153 | 0.0 |
| 111506 | Citigroup Mortgage Loan Trust, Inc. 2005-9 22A2, 6.000%, 11/25/2035 | 113703 | 0.0 |
| 588570 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2019-R05 1B1, 8.571%, (SOFR30A + 4.214%), 07/25/2039 | 600216 | 0.0 |
| 1700000 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 8.121%, (SOFR30A + 3.764%), 02/25/2040 | 1763053 | 0.1 |
| 262054 | CSMC Mortgage-Backed Trust 2007-2 3A6, 5.400%, 03/25/2037 | 119753 | 0.0 |
| 335442 <sup>(1)(2)</sup> | CSMC Trust 2013-7 A11, 3.500%, 08/25/2043 | 311862 | 0.0 |
| 221877 <sup>(1)(2)</sup> | CSMC Trust 2017-HL1 A12, 3.500%, 06/25/2047 | 203082 | 0.0 |
| 1102762 <sup>(1)(2)</sup> | CSMC Trust 2019-AFC1 A3, 3.877%, 07/25/2049 | 1078001 | 0.1 |
| 2969575 <sup>(1)(2)</sup> | CSMC Trust 2021-AFC1 M1, 2.193%, 03/25/2056 | 1925225 | 0.1 |
| 4382370 <sup>(2)</sup> | Deephaven Residential Mortgage Trust 2022-2 A1, 4.300%, 03/25/2067 | 4286879 | 0.2 |
| 313084 <sup>(1)</sup> | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 A1, 4.572%, (TSFR1M + 0.414%), 04/25/2037 | 221586 | 0.0 |
| 64256 <sup>(1)(2)</sup> | Deutsche Mortgage Securities, Inc. Re-REMIC Trust Certificates Series 2007-WM1 A1, 4.316%, 06/27/2037 | 57240 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 739789 <sup>(1)(2)</sup> | Ellington Financial Mortgage Trust 2022-2 A1, 4.299%, 04/25/2067 | $736161 | 0.0 |
| 3540000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 7.471%, (SOFR30A + 3.114%), 01/25/2040 | 3622539 | 0.2 |
| 750000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R04 1B1, 9.606%, (SOFR30A + 5.250%), 03/25/2042 | 793589 | 0.0 |
| 3045000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 11.356%, (SOFR30A + 7.000%), 04/25/2042 | 3272442 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 9.706%, (SOFR30A + 5.350%), 05/25/2043 | 1093007 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 9.106%, (SOFR30A + 4.750%), 06/25/2043 | 1612893 | 0.1 |
| 6400000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R07 2M2, 7.606%, (SOFR30A + 3.250%), 09/25/2043 | 6660106 | 0.3 |
| 3300000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 7.156%, (SOFR30A + 2.800%), 03/25/2044 | 3417718 | 0.2 |
| 2500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 6.556%, (SOFR30A + 2.200%), 05/25/2044 | 2525494 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R06 1B1, 6.406%, (SOFR30A + 2.050%), 09/25/2044 | 1004181 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 6.306%, (SOFR30A + 1.950%), 02/25/2045 | 2007974 | 0.1 |
| 268929 <sup>(3)</sup> | Fannie Mae Interest Strip 343 6, 5.000%, 10/25/2033 | 34225 | 0.0 |
| 15224438 <sup>(3)</sup> | Fannie Mae Interest Strip 427 C13, 3.500%, 03/25/2037 | 1616941 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 13218275 <sup>(3)</sup> | Fannie Mae Interest Strip 427 C18, 3.500%, 03/25/2039 | $1890130 | 0.1 |
| 25921922 <sup>(3)</sup> | Fannie Mae Interest Strip 427 C38, 3.000%, 04/25/2049 | 5065446 | 0.2 |
| 3389812 <sup>(3)</sup> | Fannie Mae Interest Strip 429 141, 6.500%, 02/25/2053 | 731521 | 0.0 |
| 1082026 <sup>(3)</sup> | Fannie Mae Interest Strip 429 142, 6.500%, 02/25/2053 | 225662 | 0.0 |
| 400886 <sup>(3)</sup> | Fannie Mae Interest Strip 429 143, 6.500%, 02/25/2053 | 81134 | 0.0 |
| 239767 <sup>(3)</sup> | Fannie Mae Interest Strip 429 144, 6.500%, 02/25/2053 | 49995 | 0.0 |
| 18992 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2000-26 SP, 4.029%, (-1.000\*SOFR30A + 8.386%), 08/25/2030 | 1572 | 0.0 |
| 39446 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2002-13 SR, 2.129%, (-1.000\*SOFR30A + 6.486%), 03/25/2032 | 1428 | 0.0 |
| 670541 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2004-53 UC, 3.079%, (-1.000\*SOFR30A + 7.436%), 07/25/2034 | 72785 | 0.0 |
| 51955 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2004-64 SW, 2.579%, (-1.000\*SOFR30A + 6.936%), 08/25/2034 | 3993 | 0.0 |
| 40111 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2004-66 SE, 2.029%, (-1.000\*SOFR30A + 6.386%), 09/25/2034 | 2507 | 0.0 |
| 181014 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2005-59 NS, 2.279%, (-1.000\*SOFR30A + 6.636%), 05/25/2035 | 3036 | 0.0 |
| 156639 <sup>(1)</sup> | Fannie Mae REMIC Trust 2006-11 FA, 4.771%, (SOFR30A + 0.414%), 03/25/2036 | 155649 | 0.0 |
| 85591 <sup>(1)</sup> | Fannie Mae REMIC Trust 2006-46 SP, 7.808%, (-1.000\*SOFR30A + 23.780%), 06/25/2036 | 103506 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 233287 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2007-18 BS, 2.129%, (-1.000\*SOFR30A + 6.486%), 06/25/2035 | $19983 | 0 |
| 2274938 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2007-22 SD, 1.929%, (-1.000\*SOFR30A + 6.286%), 03/25/2037 | 209365 | 0 |
| 1232004 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2007-55 S, 2.289%, (-1.000\*SOFR30A + 6.646%), 06/25/2037 | 111942 | 0 |
| 1157150 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2008-94 SI, 1.029%, (-1.000\*SOFR30A + 5.386%), 04/25/2036 | 73963 | 0 |
| 148729 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2009-25 SN, 2.079%, (-1.000\*SOFR30A + 6.436%), 04/25/2039 | 14313 | 0 |
| 667693 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2009-70 PS, 2.279%, (-1.000\*SOFR30A + 6.636%), 01/25/2037 | 68339 | 0 |
| 99072 <sup>(1)</sup> | Fannie Mae REMIC Trust 2010-15 FD, 5.211%, (SOFR30A + 0.854%), 03/25/2040 | 99446 | 0 |
| 255269 <sup>(1)</sup> | Fannie Mae REMIC Trust 2011-47 GF, 5.041%, (SOFR30A + 0.684%), 06/25/2041 | 255059 | 0 |
| 37946 <sup>(1)</sup> | Fannie Mae REMIC Trust 2012-10 UF, 5.021%, (SOFR30A + 0.664%), 02/25/2042 | 37697 | 0 |
| 2126454 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-111 UI, 3.000%, 10/25/2027 | 42639 | 0 |
| 197379 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-121 DI, 2.500%, 11/25/2027 | 3487 | 0 |
| 1815434 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-128 KI, 3.000%, 11/25/2027 | 38106 | 0 |
| 5336299 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2012-133 NS, 1.679%, (-1.000\*SOFR30A + 6.036%), 12/25/2042 | 586399 | 0 |
| 357671 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-148 IB, 3.500%, 01/25/2028 | 7985 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 3224541 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2012-150 PS, 1.679%, (-1.000\*SOFR30A + 6.036%), 01/25/2043 | $362141 | 0.0 |
| 6431985 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2012-66 IB, 0.050%, (-1.000\*SOFR30A + 5.936%), 06/25/2042 | 12514 | 0.0 |
| 106630 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2012-84 KI, 6.000%, (SOFR30A + 6.000%), 08/25/2042 | 19607 | 0.0 |
| 79948 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-93 IL, 3.000%, 09/25/2027 | 1336 | 0.0 |
| 2047067 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-1 LI, 2.500%, 02/25/2028 | 41278 | 0.0 |
| 1127630 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-137 PI, 5.000%, 10/25/2041 | 216831 | 0.0 |
| 4104847 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2013-19 JS, 1.729%, (-1.000\*SOFR30A + 6.086%), 10/25/2041 | 194855 | 0.0 |
| 853362 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-2 NI, 4.000%, 02/25/2043 | 112823 | 0.0 |
| 804829 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-21 KI, 3.000%, 03/25/2028 | 15765 | 0.0 |
| 2588766 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-32 EI, 2.500%, 04/25/2033 | 160710 | 0.0 |
| 339347 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-41 BI, 3.000%, 05/25/2028 | 8483 | 0.0 |
| 553517 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-67 AI, 3.000%, 07/25/2028 | 11008 | 0.0 |
| 684780 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-69 PI, 3.000%, 04/25/2033 | 32104 | 0.0 |
| 2104624 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2013-97 JS, 1.679%, (-1.000\*SOFR30A + 6.036%), 04/25/2038 | 156002 | 0.0 |
| 5352698 <sup>(3)</sup> | Fannie Mae REMIC Trust 2015-40 AI, 6.000%, 05/25/2037 | 868125 | 0.0 |
| 3911320 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2016-19 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 04/25/2046 | 291831 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1471282 <sup>(3)</sup> | Fannie Mae REMIC Trust 2016-4 BI, 4.000%, 02/25/2046 | $269935 | 0.0 |
| 943543 <sup>(3)</sup> | Fannie Mae REMIC Trust 2016-61 PI, 4.500%, 01/25/2046 | 150227 | 0.0 |
| 17867933 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2016-81 SA, 1.679%, (-1.000\*SOFR30A + 6.036%), 11/25/2046 | 1325042 | 0.1 |
| 10346541 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2017-16 SG, 1.579%, (-1.000\*SOFR30A + 5.936%), 03/25/2047 | 1229406 | 0.1 |
| 18325561 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2018-86 US, 1.729%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | 1394471 | 0.1 |
| 7400911 <sup>(3)</sup> | Fannie Mae REMIC Trust 2019-15 AI, 4.000%, 04/25/2059 | 1749772 | 0.1 |
| 9470581 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2019-17 SA, 1.629%, (-1.000\*SOFR30A + 5.986%), 04/25/2049 | 760496 | 0.0 |
| 8219163 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2019-8 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 03/25/2049 | 672570 | 0.0 |
| 20850955 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-33 YI, 4.000%, 05/25/2050 | 3857179 | 0.2 |
| 10164137 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-47 PI, 4.000%, 07/25/2050 | 2144948 | 0.1 |
| 10873500 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2020-47 SH, 1.629%, (-1.000\*SOFR30A + 5.986%), 07/25/2050 | 1451424 | 0.1 |
| 16782144 <sup>(1)(3)</sup> | Fannie Mae REMIC Trust 2020-49 SB, 1.629%, (-1.000\*SOFR30A + 5.986%), 07/25/2050 | 2599630 | 0.1 |
| 10656128 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-52 AI, 4.000%, 08/25/2050 | 1754357 | 0.1 |
| 34760887 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-64 IO, 3.000%, 09/25/2050 | 6985678 | 0.3 |
| 16557491 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-65 CI, 4.000%, 09/25/2050 | 2829351 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 17256588 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-67 JI, 4.000%, 09/25/2050 | $3413961 | 0.2 |
| 21412609 <sup>(3)</sup> | Fannie Mae REMIC Trust 2020-94 MI, 4.500%, 04/25/2050 | 4914481 | 0.2 |
| 13898388 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-18 IY, 4.500%, 08/25/2049 | 3754148 | 0.2 |
| 16273119 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-2 PI, 2.000%, 02/25/2051 | 1742917 | 0.1 |
| 17025531 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-23 JI, 3.000%, 04/25/2051 | 2782010 | 0.1 |
| 21186743 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-27 EI, 4.500%, 05/25/2051 | 4784378 | 0.2 |
| 16164626 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-28 GI, 4.000%, 05/25/2051 | 3253769 | 0.2 |
| 43399085 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-46 IM, 4.500%, 07/25/2051 | 11792985 | 0.6 |
| 31192051 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-65 KI, 3.500%, 10/25/2051 | 5641036 | 0.3 |
| 16460699 <sup>(3)</sup> | Fannie Mae REMIC Trust 2021-74 AI, 3.000%, 11/25/2051 | 2799455 | 0.1 |
| 61140 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A7, 6.000%, 02/25/2037 | 22011 | 0.0 |
| 134138 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2017-2 A7, 3.500%, 10/25/2047 | 121609 | 0.0 |
| 526577 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-1 B3, 3.929%, 03/25/2048 | 488680 | 0.0 |
| 570565 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | 533508 | 0.0 |
| 3258691 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.133%, 07/25/2048 | 3013342 | 0.1 |
| 174259 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-6RR 1A7, 4.000%, 10/25/2048 | 161811 | 0.0 |
| 3014548 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-6RR B1, 4.907%, 10/25/2048 | 2970006 | 0.1 |
| 1286204 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2019-2 B1, 4.000%, 12/25/2049 | 1189013 | 0.1 |
| 1800686 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2019-2 B2, 4.000%, 12/25/2049 | 1659623 | 0.1 |
| 3078205 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.173%, 03/25/2050 | 2843577 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2638462 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B3, 4.173%, 03/25/2050 | $2419102 | 0.1 |
| 3367978 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2021-2 B3, 2.780%, 04/25/2051 | 2867726 | 0.1 |
| 713 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2266 S, 4.063%, (-1.000\*SOFR30A + 8.436%), 11/15/2030 | 41 | 0.0 |
| 50957 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2374 S, 3.613%, (-1.000\*SOFR30A + 7.986%), 06/15/2031 | 4016 | 0.0 |
| 31530 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2417 SY, 3.913%, (-1.000\*SOFR30A + 8.286%), 12/15/2031 | 3289 | 0.0 |
| 131252 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2525 SM, 3.513%, (-1.000\*SOFR30A + 7.886%), 02/15/2032 | 12687 | 0.0 |
| 63467 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2577 SA, 2.963%, (-1.000\*SOFR30A + 7.336%), 02/15/2033 | 5957 | 0.0 |
| 679680 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2781 SB, 2.663%, (-1.000\*SOFR30A + 7.036%), 04/15/2034 | 57618 | 0.0 |
| 151473 <sup>(1)</sup> | Freddie Mac REMIC Trust 2921 PF, 4.837%, (SOFR30A + 0.464%), 01/15/2035 | 150084 | 0.0 |
| 111585 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2981 CS, 2.233%, (-1.000\*SOFR30A + 6.606%), 05/15/2035 | 6831 | 0.0 |
| 52300 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2981 SU, 3.313%, (-1.000\*SOFR30A + 7.686%), 05/15/2030 | 3510 | 0.0 |
| 236955 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 2989 HS, 2.663%, (-1.000\*SOFR30A + 7.036%), 08/15/2034 | 29897 | 0.0 |
| 72689 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3018 SM, 2.713%, (-1.000\*SOFR30A + 7.086%), 08/15/2035 | 8191 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 93584 <sup>(1)</sup> | Freddie Mac REMIC Trust 3031 BP, 8.000%, (-1.000\*SOFR30A + 44.205%), 08/15/2035 | $96594 | 0.0 |
| 237970 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3049 PI, 2.163%, (-1.000\*SOFR30A + 6.536%), 10/15/2035 | 21934 | 0.0 |
| 1756435 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3128 JI, 2.143%, (-1.000\*SOFR30A + 6.516%), 03/15/2036 | 161860 | 0.0 |
| 33167 <sup>(4)</sup> | Freddie Mac REMIC Trust 3151 PO, 0.000%, 05/15/2036 | 27996 | 0.0 |
| 841760 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3222 SN, 2.113%, (-1.000\*SOFR30A + 6.486%), 09/15/2036 | 74164 | 0.0 |
| 972589 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3298 S, 1.623%, (-1.000\*SOFR30A + 5.996%), 04/15/2037 | 84927 | 0.0 |
| 278705 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3523 SA, 1.513%, (-1.000\*SOFR30A + 5.886%), 09/15/2036 | 21032 | 0.0 |
| 282703 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3582 MS, 1.663%, (-1.000\*SOFR30A + 6.036%), 10/15/2039 | 25130 | 0.0 |
| 114773 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 3624 TS, 0.313%, (-1.000\*SOFR30A + 4.686%), 01/15/2040 | 4615 | 0.0 |
| 324217 <sup>(3)</sup> | Freddie Mac REMIC Trust 3688 BI, 5.000%, 07/15/2040 | 45048 | 0.0 |
| 245398 <sup>(1)</sup> | Freddie Mac REMIC Trust 3740 FB, 4.987%, (SOFR30A + 0.614%), 10/15/2040 | 243214 | 0.0 |
| 583023 <sup>(3)</sup> | Freddie Mac REMIC Trust 4097 IC, 2.500%, 08/15/2027 | 9750 | 0.0 |
| 476866 <sup>(3)</sup> | Freddie Mac REMIC Trust 4116 IL, 4.500%, 05/15/2042 | 43658 | 0.0 |
| 1991735 <sup>(3)</sup> | Freddie Mac REMIC Trust 4120 TI, 2.500%, 10/15/2027 | 36059 | 0.0 |
| 314802 <sup>(3)</sup> | Freddie Mac REMIC Trust 4136 QI, 3.000%, 11/15/2032 | 11374 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 260843 <sup>(3)</sup> | Freddie Mac REMIC Trust 4143 IK, 4.000%, 10/15/2041 | $12890 | 0.0 |
| 9097692 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4146 SA, 1.663%, (-1.000\*SOFR30A + 6.036%), 12/15/2042 | 975213 | 0.0 |
| 14662 <sup>(3)</sup> | Freddie Mac REMIC Trust 4153 YI, 3.000%, 09/15/2042 | 23 | 0.0 |
| 1272795 <sup>(3)</sup> | Freddie Mac REMIC Trust 4157 IH, 3.500%, 01/15/2043 | 190603 | 0.0 |
| 294490 <sup>(3)</sup> | Freddie Mac REMIC Trust 4162 DI, 2.000%, 02/15/2028 | 4427 | 0.0 |
| 1013839 <sup>(3)</sup> | Freddie Mac REMIC Trust 4182 IL, 3.000%, 03/15/2028 | 26995 | 0.0 |
| 1363935 <sup>(3)</sup> | Freddie Mac REMIC Trust 4186 IA, 3.000%, 03/15/2033 | 101171 | 0.0 |
| 12150 <sup>(3)</sup> | Freddie Mac REMIC Trust 4261 ID, 6.500%, 06/15/2032 | 120 | 0.0 |
| 16153667 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4273 PS, 1.613%, (-1.000\*SOFR30A + 5.986%), 11/15/2043 | 1339543 | 0.1 |
| 238920 <sup>(3)</sup> | Freddie Mac REMIC Trust 4287 CI, 4.500%, 07/15/2041 | 22665 | 0.0 |
| 1205838 <sup>(3)</sup> | Freddie Mac REMIC Trust 4290 EI, 5.000%, 12/15/2043 | 229329 | 0.0 |
| 53060 <sup>(3)</sup> | Freddie Mac REMIC Trust 4333 AI, 5.500%, 02/15/2044 | 8417 | 0.0 |
| 890659 <sup>(3)</sup> | Freddie Mac REMIC Trust 4494 LI, 5.000%, 12/15/2043 | 59833 | 0.0 |
| 4889428 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4618 SA, 1.513%, (-1.000\*SOFR30A + 5.886%), 09/15/2046 | 570439 | 0.0 |
| 1236308 <sup>(3)</sup> | Freddie Mac REMIC Trust 4625 BI, 3.500%, 06/15/2046 | 219943 | 0.0 |
| 1246760 <sup>(3)</sup> | Freddie Mac REMIC Trust 4708 KI, 4.500%, 11/15/2046 | 196000 | 0.0 |
| 8352940 <sup>(3)</sup> | Freddie Mac REMIC Trust 4813 IO, 5.500%, 08/15/2048 | 1564270 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 15582196 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4903 NS, 1.629%, (-1.000\*SOFR30A + 5.986%), 08/25/2049 | $1768674 | 0.1 |
| 9525655 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4909 SJ, 1.579%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | 1310615 | 0.1 |
| 3805094 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4910 SD, 1.563%, (-1.000\*SOFR30A + 5.936%), 06/15/2049 | 509943 | 0.0 |
| 11432298 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4910 SH, 1.579%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | 1606043 | 0.1 |
| 15479444 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 4924 SY, 1.579%, (-1.000\*SOFR30A + 5.936%), 10/25/2049 | 2213790 | 0.1 |
| 10512320 <sup>(3)</sup> | Freddie Mac REMIC Trust 4967 IQ, 4.000%, 02/25/2050 | 2189952 | 0.1 |
| 37154270 <sup>(3)</sup> | Freddie Mac REMIC Trust 4973 BI, 4.500%, 05/25/2050 | 8408788 | 0.4 |
| 27706176 <sup>(3)</sup> | Freddie Mac REMIC Trust 4974 I, 4.000%, 04/25/2050 | 5613802 | 0.3 |
| 17943794 <sup>(1)(3)</sup> | Freddie Mac REMIC Trust 5009 TS, 1.729%, (-1.000\*SOFR30A + 6.086%), 09/25/2050 | 2451307 | 0.1 |
| 25291564 <sup>(3)</sup> | Freddie Mac REMIC Trust 5010 MI, 3.000%, 09/25/2050 | 3860122 | 0.2 |
| 15426770 <sup>(3)</sup> | Freddie Mac REMIC Trust 5036 CI, 4.000%, 12/25/2049 | 3162274 | 0.2 |
| 22320199 <sup>(3)</sup> | Freddie Mac REMIC Trust 5049 UI, 3.000%, 12/25/2050 | 4419058 | 0.2 |
| 8080299 <sup>(3)</sup> | Freddie Mac REMIC Trust 5052 BI, 5.000%, 12/25/2050 | 1909265 | 0.1 |
| 12047072 <sup>(3)</sup> | Freddie Mac REMIC Trust 5074 GI, 2.000%, 02/25/2051 | 1375247 | 0.1 |
| 20056228 <sup>(3)</sup> | Freddie Mac REMIC Trust 5081 CI, 2.000%, 03/25/2051 | 2295355 | 0.1 |
| 34859374 <sup>(3)</sup> | Freddie Mac REMIC Trust 5083 IP, 4.000%, 11/25/2048 | 7281673 | 0.3 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 12226349 <sup>(3)</sup> | Freddie Mac REMIC Trust 5133 CI, 4.500%, 07/25/2039 | $2108785 | 0.1 |
| 13779561 <sup>(3)</sup> | Freddie Mac REMIC Trust 5138 CI, 4.000%, 07/25/2050 | 2872910 | 0.1 |
| 9519495 <sup>(3)</sup> | Freddie Mac REMIC Trust 5142 LI, 2.500%, 09/25/2051 | 1555188 | 0.1 |
| 4504474 <sup>(3)</sup> | Freddie Mac REMIC Trust 5152 GI, 4.500%, 06/25/2048 | 1044001 | 0.1 |
| 18210701 <sup>(3)</sup> | Freddie Mac REMIC Trust 5214 IO, 2.000%, 03/25/2051 | 2402883 | 0.1 |
| 7247586 <sup>(3)</sup> | Freddie Mac REMIC Trust 5261 IC, 4.000%, 01/25/2050 | 1447803 | 0.1 |
| 44867203 <sup>(1)</sup> | Freddie Mac REMIC Trust 5502 FD, 5.956%, (SOFR30A + 1.600%), 02/25/2055 | 45500898 | 2.1 |
| 5100000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2021-DNA6 B1, 7.756%, (SOFR30A + 3.400%), 10/25/2041 | 5217312 | 0.2 |
| 6100000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 8.106%, (SOFR30A + 3.750%), 12/25/2041 | 6262383 | 0.3 |
| 5000000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 M2, 6.706%, (SOFR30A + 2.350%), 12/25/2041 | 5053449 | 0.2 |
| 2800000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 7.756%, (SOFR30A + 3.400%), 01/25/2042 | 2866797 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 M2, 6.856%, (SOFR30A + 2.500%), 01/25/2042 | 3050905 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 9.106%, (SOFR30A + 4.750%), 02/25/2042 | 2606075 | 0.1 |
| 3400000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA3 M2, 8.706%, (SOFR30A + 4.350%), 04/25/2042 | 3558624 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1800000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA5 M2, 11.106%, (SOFR30A + 6.750%), 06/25/2042 | $1963418 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA6 M2, 10.106%, (SOFR30A + 5.750%), 09/25/2042 | 2174257 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2023-HQA3 M2, 7.706%, (SOFR30A + 3.350%), 11/25/2043 | 2639379 | 0.1 |
| 4000000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 6.156%, (SOFR30A + 1.800%), 08/25/2044 | 4024718 | 0.2 |
| 2000000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2025-HQA1 M2, 6.006%, (SOFR30A + 1.650%), 02/25/2045 | 2004088 | 0.1 |
| 430706 <sup>(3)</sup> | Freddie Mac Strips 224 IO, 6.000%, 03/01/2033 | 61635 | 0.0 |
| 251956 <sup>(1)(3)</sup> | Freddie Mac Strips 237 S23, 2.613%, (-1.000\*SOFR30A + 6.986%), 05/15/2036 | 30050 | 0.0 |
| 317413 <sup>(3)</sup> | Freddie Mac Strips 260 33, 4.000%, 05/15/2039 | 47558 | 0.0 |
| 222432 <sup>(3)</sup> | Freddie Mac Strips 287 IO, 3.000%, 10/15/2027 | 4326 | 0.0 |
| 153730 <sup>(1)(3)</sup> | Freddie Mac Strips 324 144, 6.000%, 06/15/2039 | 27829 | 0.0 |
| 7039683 <sup>(3)</sup> | Freddie Mac Strips 390 C3, 3.500%, 11/15/2037 | 827066 | 0.0 |
| 7877918 <sup>(3)</sup> | Freddie Mac Strips 400 C8, 6.500%, 05/25/2053 | 1382025 | 0.1 |
| 1362356 <sup>(1)(2)</sup> | Galton Funding Mortgage Trust 2018-2 B2, 4.577%, 10/25/2058 | 1318332 | 0.1 |
| 2166643 <sup>(1)(2)</sup> | Galton Funding Mortgage Trust 2019-1 B1, 4.250%, 02/25/2059 | 2088278 | 0.1 |
| 1741923 <sup>(1)(2)</sup> | Galton Funding Mortgage Trust 2019-1 B2, 4.500%, 02/25/2059 | 1690303 | 0.1 |
| 1962189 <sup>(1)(2)</sup> | GCAT Trust 2024-INV2 B3, 7.301%, 06/25/2054 | 2077493 | 0.1 |
| 1978653 <sup>(1)(2)</sup> | GCAT Trust 2024-INV4 B4, 7.064%, 12/25/2054 | 1955551 | 0.1 |
| 1992451 <sup>(1)(2)</sup> | GCAT Trust 2025-INV2 B3, 7.052%, 05/25/2055 | 2067153 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | GCAT Trust 2025-INV4 B3, 7.280%, 08/25/2055 | 1049899 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2308447 <sup>(1)(3)</sup> | Ginnie Mae 2007-59 SC, 2.250%, (-1.000\*TSFR1M + 6.386%), 07/20/2037 | $229296 | 0.0 |
| 181862 <sup>(1)(3)</sup> | Ginnie Mae 2008-40 SA, 2.139%, (-1.000\*TSFR1M + 6.286%), 05/16/2038 | 9551 | 0.0 |
| 159093 <sup>(3)</sup> | Ginnie Mae 2010-143 JI, 4.000%, 08/16/2039 | 3537 | 0.0 |
| 303024 <sup>(3)</sup> | Ginnie Mae 2010-4 IP, 5.000%, 01/16/2039 | 10207 | 0.0 |
| 365823 <sup>(1)(3)</sup> | Ginnie Mae 2010-4 SL, 2.139%, (-1.000\*TSFR1M + 6.286%), 01/16/2040 | 36795 | 0.0 |
| 979698 <sup>(1)(3)</sup> | Ginnie Mae 2011-101 BI, 0.650%, (-1.000\*TSFR1M + 6.536%), 11/20/2037 | 21124 | 0.0 |
| 77430 <sup>(1)(3)</sup> | Ginnie Mae 2011-101 EI, 6.000%, (-1.000\*TSFR1M + 106.946%), 10/16/2039 | 14085 | 0.0 |
| 403723 <sup>(3)</sup> | Ginnie Mae 2011-124 KI, 4.000%, 08/20/2039 | 8925 | 0.0 |
| 2490977 <sup>(1)(3)</sup> | Ginnie Mae 2011-25 AS, 1.810%, (-1.000\*TSFR1M + 5.946%), 02/20/2041 | 183270 | 0.0 |
| 119736 <sup>(3)</sup> | Ginnie Mae 2012-148 IP, 3.500%, 04/20/2041 | 500 | 0.0 |
| 9382 <sup>(3)</sup> | Ginnie Mae 2012-149 BI, 3.500%, 10/20/2041 | 741 | 0.0 |
| 860416 <sup>(3)</sup> | Ginnie Mae 2012-39 PI, 4.000%, 03/16/2042 | 78256 | 0.0 |
| 2094046 <sup>(1)(3)</sup> | Ginnie Mae 2013-103 DS, 1.900%, (-1.000\*TSFR1M + 6.036%), 07/20/2043 | 225962 | 0.0 |
| 11067801 <sup>(1)(3)</sup> | Ginnie Mae 2013-130 SB, 0.655%, (-1.000\*TSFR1M + 4.936%), 09/16/2043 | 445638 | 0.0 |
| 3762111 <sup>(1)(3)</sup> | Ginnie Mae 2013-134 DS, 1.850%, (-1.000\*TSFR1M + 5.986%), 09/20/2043 | 390048 | 0.0 |
| 97897 <sup>(3)</sup> | Ginnie Mae 2013-44 LI, 4.500%, 01/16/2043 | 9590 | 0.0 |
| 307476 <sup>(3)</sup> | Ginnie Mae 2013-81 IO, 4.500%, 01/16/2040 | 14445 | 0.0 |
| 5432137 <sup>(1)(3)</sup> | Ginnie Mae 2014-58 SM, 1.839%, (-1.000\*TSFR1M + 5.986%), 04/16/2044 | 539742 | 0.0 |
| 1116707 <sup>(3)</sup> | Ginnie Mae 2014-84 PI, 4.500%, 04/20/2043 | 111776 | 0.0 |
| 1163066 <sup>(3)</sup> | Ginnie Mae 2015-132 BI, 4.000%, 11/20/2044 | 150112 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1796587 <sup>(1)(3)</sup> | Ginnie Mae 2015-69 IL, 0.200%, (-1.000\*TSFR1M + 6.586%), 07/20/2034 | $8511 | 0.0 |
| 126202 <sup>(3)</sup> | Ginnie Mae 2015-94 IU, 4.000%, 08/20/2044 | 16944 | 0.0 |
| 4498886 <sup>(1)(3)</sup> | Ginnie Mae 2016-66 ES, 1.800%, (-1.000\*TSFR1M + 5.936%), 05/20/2046 | 534431 | 0.0 |
| 236128 <sup>(3)</sup> | Ginnie Mae 2016-8 PI, 4.000%, 10/20/2044 | 26169 | 0.0 |
| 8859066 <sup>(1)(3)</sup> | Ginnie Mae 2018-125 HS, 2.000%, (-1.000\*TSFR1M + 6.136%), 09/20/2048 | 976874 | 0.0 |
| 3782445 <sup>(1)(3)</sup> | Ginnie Mae 2018-153 SQ, 1.950%, (-1.000\*TSFR1M + 6.086%), 11/20/2048 | 310867 | 0.0 |
| 9234050 <sup>(1)(3)</sup> | Ginnie Mae 2018-93 SJ, 1.950%, (-1.000\*TSFR1M + 6.086%), 07/20/2048 | 861182 | 0.0 |
| 109738 <sup>(3)</sup> | Ginnie Mae 2019-111 TI, 5.000%, 09/20/2049 | 21552 | 0.0 |
| 59389 <sup>(3)</sup> | Ginnie Mae 2019-86 GI, 6.500%, 07/20/2049 | 11854 | 0.0 |
| 259557 <sup>(3)</sup> | Ginnie Mae 2019-86 HI, 5.500%, 07/20/2049 | 57931 | 0.0 |
| 8802446 <sup>(1)(3)</sup> | Ginnie Mae 2019-89 SC, 1.850%, (-1.000\*TSFR1M + 5.986%), 07/20/2049 | 1108081 | 0.1 |
| 17371781 <sup>(3)</sup> | Ginnie Mae 2020-7 EI, 3.500%, 01/20/2050 | 3367732 | 0.2 |
| 19691084 <sup>(3)</sup> | Ginnie Mae 2021-152 ID, 3.000%, 08/20/2051 | 3194205 | 0.2 |
| 35274711 <sup>(3)</sup> | Ginnie Mae 2021-194 IK, 3.000%, 11/20/2051 | 6034080 | 0.3 |
| 18870040 <sup>(1)(3)</sup> | Ginnie Mae 2022-159 SE, 1.611%, (-1.000\*SOFR30A + 6.000%), 09/20/2052 | 1603440 | 0.1 |
| 14885201 <sup>(3)</sup> | Ginnie Mae 2022-56 IG, 4.500%, 07/20/2050 | 3400710 | 0.2 |
| 18065984 <sup>(3)</sup> | Ginnie Mae 2023-24 ID, 3.500%, 06/20/2050 | 3502646 | 0.2 |
| 9109633 <sup>(1)</sup> | Ginnie Mae 2023-57 S, 3.875%, (-1.000\*SOFR30A + 13.530%), 04/20/2053 | 8790284 | 0.4 |
| 19053181 <sup>(3)</sup> | Ginnie Mae 2023-70 JI, 5.500%, 06/20/2052 | 3624015 | 0.2 |
| 213037 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A1, 3.500%, 05/25/2050 | 191617 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 338353 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 A4, 3.500%, 05/25/2050 | $304333 | 0.0 |
| 852191 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 A8, 3.500%, 05/25/2050 | 766505 | 0.0 |
| 2132050 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 B2, 3.610%, 05/25/2050 | 1895800 | 0.1 |
| 3365689 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 B3, 3.610%, 05/25/2050 | 2982447 | 0.1 |
| 1479646 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ1 B3, 4.016%, 08/25/2049 | 1334809 | 0.1 |
| 53800 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | 50778 | 0.0 |
| 3394143 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B2, 4.364%, 11/25/2049 | 3176295 | 0.2 |
| 3510708 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.364%, 11/25/2049 | 3257810 | 0.2 |
| 403190 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.971%, 03/25/2050 | 374769 | 0.0 |
| 411235 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.971%, 03/25/2050 | 382247 | 0.0 |
| 1637480 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.412%, 10/25/2050 | 1318017 | 0.1 |
| 1547798 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2021-PJ3 B3, 2.651%, 08/25/2051 | 1241082 | 0.1 |
| 3536564 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2021-PJ4 B3, 2.612%, 09/25/2051 | 2942434 | 0.1 |
| 4574881 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2021-PJ5 B3, 2.582%, 10/25/2051 | 3759850 | 0.2 |
| 907794 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2021- GR3 B3, 3.375%, 04/25/2052 | 765140 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 910111 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2021- GR3 B4, 3.375%, 04/25/2052 | $752976 | 0.0 |
| 2186639 <sup>(2)</sup> | GS Mortgage-Backed Securities Trust 2021- PJ9 A4, 2.500%, 02/26/2052 | 1803654 | 0.1 |
| 1970234 <sup>(2)</sup> | GS Mortgage-Backed Securities Trust 2022- NQM1 A4, 4.000%, 05/25/2062 | 1833034 | 0.1 |
| 2911819 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2023- PJ6 B2, 6.854%, 04/25/2054 | 3021777 | 0.1 |
| 2243283 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ1 B2, 7.040%, 06/25/2054 | 2327405 | 0.1 |
| 1458726 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ2 B3, 6.202%, 07/25/2054 | 1443685 | 0.1 |
| 1945561 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ4 B2, 6.063%, 08/25/2054 | 1952597 | 0.1 |
| 1546631 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2025- PJ1 A19, 6.000%, 06/25/2055 | 1561203 | 0.1 |
| 267107 <sup>(1)</sup> | HarborView Mortgage Loan Trust 2007-5 A1A, 4.628%, (TSFR1M + 0.494%), 09/19/2037 | 232184 | 0.0 |
| 493 <sup>(1)</sup> | HomeBanc Mortgage Trust 2004-1 2A, 5.132%, (TSFR1M + 0.974%), 08/25/2029 | 484 | 0.0 |
| 2857359 <sup>(2)</sup> | HTAP Issuer Trust 2025-1 A, 6.500%, 11/25/2042 | 2862962 | 0.1 |
| 2600000 <sup>(1)(2)</sup> | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 2086650 | 0.1 |
| 46011 <sup>(1)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 4.692%, (TSFR1M + 0.534%), 04/25/2046 | 42410 | 0.0 |
| 44016 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-2 A3, 4.000%, 08/25/2049 | 41749 | 0.0 |
| 941139 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-2 B1, 4.449%, 08/25/2049 | 896218 | 0.0 |
| 2280293 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-2 B2, 4.449%, 08/25/2049 | 2165516 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 950720 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.606%, 06/25/2049 | $915145 | 0.0 |
| 2274684 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.148%, 05/25/2052 | 1866892 | 0.1 |
| 824941 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2022-5 A9, 2.800%, 09/25/2052 | 695474 | 0.0 |
| 585735 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 591254 | 0.0 |
| 789708 <sup>(1)</sup> | JP Morgan Mortgage Trust 2005-A4 B1, 5.626%, 07/25/2035 | 762861 | 0.0 |
| 69650 | JP Morgan Mortgage Trust 2005-S3 1A10, 6.000%, 01/25/2036 | 31023 | 0.0 |
| 136380 | JP Morgan Mortgage Trust 2006-S2 1A18, 6.000%, 07/25/2036 | 58824 | 0.0 |
| 389145 | JP Morgan Mortgage Trust 2006-S3 1A30, 6.500%, 08/25/2036 | 125358 | 0.0 |
| 784352 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2014-5 B3, 2.597%, 10/25/2029 | 751240 | 0.0 |
| 375467 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2016-1 B3, 3.790%, 05/25/2046 | 358232 | 0.0 |
| 2095000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2016-1 B4, 3.790%, 05/25/2046 | 1586816 | 0.1 |
| 295665 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2016-4 A13, 3.500%, 10/25/2046 | 269504 | 0.0 |
| 692981 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 621907 | 0.0 |
| 1082118 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-3 B1, 3.790%, 08/25/2047 | 1015391 | 0.1 |
| 1343089 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-5 B1, 4.967%, 10/26/2048 | 1343259 | 0.1 |
| 462862 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-6 B3, 3.778%, 12/25/2048 | 424208 | 0.0 |
| 1306911 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-6 B4, 3.778%, 12/25/2048 | 1188875 | 0.1 |
| 904203 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-6 B5, 3.778%, 12/25/2048 | 729980 | 0.0 |
| 1855748 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-1 B2, 3.576%, 06/25/2048 | 1694800 | 0.1 |
| 1905425 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-3 B3, 3.706%, 09/25/2048 | 1740342 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 390043 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.715%, 10/25/2048 | $359526 | 0.0 |
| 1538992 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-5 A13, 3.500%, 10/25/2048 | 1385754 | 0.1 |
| 82334 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-6 1A10, 3.500%, 12/25/2048 | 74400 | 0.0 |
| 134417 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-8 A3, 4.000%, 01/25/2049 | 125518 | 0.0 |
| 3303363 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-8 B2, 4.028%, 01/25/2049 | 3060319 | 0.1 |
| 832998 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-9 B2, 4.236%, 02/25/2049 | 784927 | 0.0 |
| 140323 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | 131541 | 0.0 |
| 260154 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-5 A3, 4.000%, 11/25/2049 | 245949 | 0.0 |
| 2471367 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-5 B1, 4.446%, 11/25/2049 | 2363093 | 0.1 |
| 60523 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-6 A3, 3.500%, 12/25/2049 | 55389 | 0.0 |
| 843925 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-7 B3A, 3.203%, 02/25/2050 | 750450 | 0.0 |
| 329756 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | 297119 | 0.0 |
| 856144 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-8 B3A, 3.393%, 03/25/2050 | 766604 | 0.0 |
| 3345076 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV1 B2, 4.925%, 09/25/2049 | 3276251 | 0.2 |
| 197297 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV2 A15, 3.500%, 02/25/2050 | 178990 | 0.0 |
| 3686134 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV3 B3, 4.351%, 05/25/2050 | 3436505 | 0.2 |
| 1308482 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.678%, 12/25/2049 | 1273053 | 0.1 |
| 1326388 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.678%, 12/25/2049 | 1287213 | 0.1 |
| 2434834 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV3 B2, 4.335%, 03/25/2050 | 2289511 | 0.1 |
| 5667473 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV3 B3, 4.335%, 03/25/2050 | 5296103 | 0.3 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 229446 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-2 A15, 3.500%, 07/25/2050 | $206579 | 0.0 |
| 32203 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-LTV1 A15, 3.500%, 06/25/2050 | 31913 | 0.0 |
| 166362 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-LTV1 A5, 3.500%, 06/25/2050 | 164899 | 0.0 |
| 2943654 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2021-6 B3, 2.833%, 10/25/2051 | 2375295 | 0.1 |
| 2328773 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2022-2 B3, 3.122%, 08/25/2052 | 1901723 | 0.1 |
| 971526 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.294%, 05/25/2054 | 966080 | 0.0 |
| 1663617 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-12 A9, 6.150%, 06/25/2055 | 1688567 | 0.1 |
| 1008037 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-2 A9, 6.500%, 08/25/2054 | 1022700 | 0.1 |
| 582972 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-CCM1 A3, 5.500%, 04/25/2055 | 585436 | 0.0 |
| 1419975 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-CCM1 B3, 6.546%, 04/25/2055 | 1380132 | 0.1 |
| 4591869 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2025-CCM1 A9, 5.500%, 06/25/2055 | 4586597 | 0.2 |
| 1752071 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2025-CCM1 B3, 6.101%, 06/25/2055 | 1667496 | 0.1 |
| 1766290 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2024-4 B2, 7.114%, 10/25/2054 | 1888282 | 0.1 |
| 2670042 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2024-4 B3, 7.114%, 10/25/2054 | 2795029 | 0.1 |
| 2424743 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2024-6 B3, 6.911%, 12/25/2054 | 2508571 | 0.1 |
| 398134 <sup>(1)(2)</sup> | JP Morgan Trust 2015-3 B3, 3.570%, 05/25/2045 | 375707 | 0.0 |
| 1327529 <sup>(1)(2)</sup> | JP Morgan Trust 2015-3 B4, 3.570%, 05/25/2045 | 1034154 | 0.1 |
| 49403 <sup>(1)</sup> | Lehman XS Trust Series 2005-5N 1A2, 4.632%, (TSFR1M + 0.474%), 11/25/2035 | 49166 | 0.0 |
| 1703645 <sup>(1)(2)</sup> | Mello Mortgage Capital Acceptance 2021-MTG3 B3, 2.894%, 07/01/2051 | 1392663 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 2650558 <sup>(1)(2)</sup> | Mello Mortgage Capital Acceptance 2022-INV1 B3, 3.315%, 03/25/2052 | $2210656 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | MFA Trust 2021-INV2 M1, 3.199%, 11/25/2056 | 1613495 | 0.1 |
| 894181 <sup>(1)</sup> | Morgan Stanley Mortgage Loan Trust 2006-9AR A2, 4.572%, (TSFR1M + 0.414%), 08/25/2036 | 193422 | 0.0 |
| 981139 <sup>(1)(2)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B3, 7.130%, 03/25/2054 | 1024575 | 0.1 |
| 985991 <sup>(1)(2)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 6.991%, 09/25/2054 | 1020069 | 0.1 |
| 219241 <sup>(1)(2)</sup> | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 217489 | 0.0 |
| 1300000 <sup>(1)(2)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.706%, (SOFR30A + 3.350%), 04/25/2034 | 1322044 | 0.1 |
| 139953 <sup>(1)(2)</sup> | OBX Trust 2019-EXP3 1A9, 3.500%, 10/25/2059 | 127939 | 0.0 |
| 269469 <sup>(1)(2)</sup> | OBX Trust 2019-INV2 A25, 4.000%, 05/27/2049 | 252770 | 0.0 |
| 207798 <sup>(1)(2)</sup> | OBX Trust 2020-INV1 A21, 3.500%, 12/25/2049 | 187176 | 0.0 |
| 1650736 <sup>(1)(2)</sup> | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 1363158 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | OBX Trust 2022-NQM4 A1B, 3.900%, 04/25/2062 | 2394607 | 0.1 |
| 1998086 <sup>(1)(2)</sup> | OBX Trust 2025-J2 A19, 5.500%, 09/25/2055 | 1994044 | 0.1 |
| 2021980 <sup>(1)(2)</sup> | Oceanview Mortgage Trust 2021-1 B3, 2.716%, 05/25/2051 | 1631073 | 0.1 |
| 1022152770 <sup>(2)(3)</sup> | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | 5572317 | 0.3 |
| 11177 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 10006 | 0.0 |
| 124485 <sup>(1)(2)</sup> | PSMC Trust 2019-3 A12, 3.481%, 11/25/2049 | 116196 | 0.0 |
| 2083981 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2019-1 B2A, 3.888%, 09/25/2049 | 1922732 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya Strategic Income Opportunities Fund</u> <u>PORTFOLIO OF INVESTMENTS as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1438208 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2020-1 B2A, 3.473%, 02/25/2050 | $1306227 | 0.1 |
| 2175774 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2021-4 A21, 2.500%, 09/25/2051 | 1794693 | 0.1 |
| 5081010 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2021-6 B3, 2.794%, 12/25/2051 | 4076772 | 0.2 |
| 791297 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2022-3 A21, 3.000%, 05/25/2052 | 680785 | 0.0 |
| 3443320 <sup>(2)</sup> | Redwood Funding Trust 2025-3 A, 6.231%, 12/27/2056 | 3451753 | 0.2 |
| 584198 <sup>(2)</sup> | Sequoia Mortgage Trust 2013-9 B2, 3.500%, 07/25/2043 | 563929 | 0.0 |
| 1129067 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2017-1 B2, 3.601%, 02/25/2047 | 1068913 | 0.1 |
| 979735 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2018-6 B1, 4.165%, 07/25/2048 | 939031 | 0.0 |
| 446686 <sup>(2)</sup> | Sequoia Mortgage Trust 2018-CH1 B2B, 4.434%, 03/25/2048 | 429105 | 0.0 |
| 1375144 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-2 B2, 4.260%, 06/25/2049 | 1330486 | 0.1 |
| 1300321 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-2 B3, 4.260%, 06/25/2049 | 1222074 | 0.1 |
| 1764235 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-5 B2, 3.703%, 12/25/2049 | 1626389 | 0.1 |
| 1765046 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-5 B3, 3.703%, 12/25/2049 | 1619409 | 0.1 |
| 664767 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH1 B2B, 4.920%, 03/25/2049 | 653469 | 0.0 |
| <sub>918</sub> (1)(2) | Sequoia Mortgage Trust 2019-CH2 A1, 4.500%, 08/25/2049 | 916 | 0.0 |
| 139704 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 A13, 4.000%, 09/25/2049 | 131628 | 0.0 |
| 1736503 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 B1B, 4.500%, 09/25/2049 | 1670723 | 0.1 |
| 154116 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-1 A1, 3.500%, 02/25/2050 | 140516 | 0.0 |
| 1306945 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-2 B3, 3.633%, 03/25/2050 | 1169339 | 0.1 |
| 514015 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2021-3 B3, 2.651%, 05/25/2051 | 423604 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1139227 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2021-5 B3, 3.050%, 07/25/2051 | $953725 | 0.0 |
| 1007705 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2022-1 B3, 2.944%, 02/25/2052 | 840659 | 0.0 |
| 1962353 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 1980842 | 0.1 |
| 1152369 <sup>(2)</sup> | Sequoia Mortgage Trust 2024-4 A19, 6.000%, 05/25/2054 | 1163226 | 0.1 |
| 1318518 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 1317004 | 0.1 |
| 1748444 <sup>(2)</sup> | Sequoia Mortgage Trust 2025-1 A19, 6.000%, 01/25/2055 | 1764918 | 0.1 |
| 2317009 <sup>(1)(2)</sup> | Shellpoint Co.-Originator Trust 2017-2 B3, 3.618%, 10/25/2047 | 2157669 | 0.1 |
| 1747786 <sup>(1)(2)</sup> | Shellpoint Co-Originator Trust 2017-2 B2, 3.618%, 10/25/2047 | 1634450 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 1603450 | 0.1 |
| 17184 <sup>(1)</sup> | Structured Adjustable Rate Mortgage Loan Trust Series 2005-4 3A1, 5.594%, 03/25/2035 | 15526 | 0.0 |
| 1167868 <sup>(1)(2)</sup> | Triangle Re Ltd. 2021-3 M1B, 7.256%, (SOFR30A + 2.900%), 02/25/2034 | 1171159 | 0.1 |
| 2332773 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV4 B3, 3.214%, 12/25/2051 | 1918367 | 0.1 |
| 48863967 <sup>(1)(3)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR1 X, 0.277%, 01/25/2045 | 491 | 0.0 |
| 18799486 <sup>(1)(3)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR2 X, 0.157%, 01/25/2045 | 189 | 0.0 |
| 9169 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.667%, 10/25/2036 | 8554 | 0.0 |
| 44001 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 2A3, 3.752%, 10/25/2036 | 40009 | 0.0 |
| 230884 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR14 1A4, 4.208%, 11/25/2036 | 208362 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 60231 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.161%, 12/25/2036 | $54729 | 0 |
| 306382 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY3 1A1, 3.825%, 03/25/2037 | 257653 | 0 |
| 416057 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates Series 2004-AR7 A6, 5.197%, 07/25/2034 | 394472 | 0 |
| 89977 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2004-AR4 A6, 5.468%, 06/25/2034 | 88178 | 0 |
| 60078 <sup>(1)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2006-AR14 1A3, 4.208%, 11/25/2036 | 54217 | 0 |
| 343734 <sup>(1)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 5.172%, (TSFR1M + 1.014%), 11/25/2035 | 314701 | 0 |
| 395588 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | 373425 | 0 |
| 513972 <sup>(1)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-5 2CB2, 4.872%, (TSFR1M + 0.714%), 07/25/2036 | 329446 | 0 |
| 1431997 <sup>(1)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR5 3A, 5.093%, (12MTA + 0.940%), 07/25/2046 | 884156 | 0 |
| 594829 <sup>(1)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 5.113%, (12MTA + 0.960%), 08/25/2046 | 343761 | 0 |
| 364412 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-10 2A9, 6.000%, 11/25/2035 | 355323 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 79442 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | 68915 | 0.0 |
| 15833 <sup>(1)</sup> | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 4.702%, (TSFR1M + 0.544%), 06/25/2037 | 13897 | 0.0 |
| 1175575 <sup>(1)</sup><sup>(2)</sup> | Wells Fargo Mortgage Backed Securities 2018-1 B3, 3.647%, 07/25/2047 | 1063134 | 0.1 |
| 270164 <sup>(1)</sup> | Wells Fargo Mortgage Backed Securities Trust 2006-AR12 1A1, 6.766%, 09/25/2036 | 247010 | 0.0 |
| 59763 <sup>(1)</sup> | Wells Fargo Mortgage Backed Securities Trust 2007-AR7 A1, 6.481%, 12/28/2037 | 54368 | 0.0 |
| 1365350 <sup>(1)</sup><sup>(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.514%, 09/25/2049 | 960073 | 0.0 |
| 1746165 <sup>(1)</sup><sup>(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.363%, 12/25/2049 | 1540103 | 0.1 |
| 2554860 <sup>(1)</sup><sup>(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-4 B2, 3.154%, 07/25/2050 | 2299432 | 0.1 |
| 1782637 <sup>(1)</sup><sup>(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2021-1 B3, 2.697%, 12/25/2050 | 1355654 | 0.1 |
| 295125 <sup>(1)</sup><sup>(2)</sup> | WinWater Mortgage Loan Trust 2015-5 B4, 3.761%, 08/20/2045 | 274052 | 0.0 |
|  | Total Collateralized Mortgage Obligations |  |  |
|  | (Cost $618,930,159) | **593186016** | **27.7** |
| **CORPORATE BONDS/NOTES: 22.5%** | **CORPORATE BONDS/NOTES: 22.5%** | **CORPORATE BONDS/NOTES: 22.5%** | **CORPORATE BONDS/NOTES: 22.5%** |
|  | **Basic Materials: 1.8%** | **Basic Materials: 1.8%** | **Basic Materials: 1.8%** |
| 1965000 | Air Products and Chemicals, Inc., 4.300%, 06/11/2028 | 1983486 | 0.1 |
| 1881000 <sup>(5)</sup> | Albemarle Corp., 4.650%, 06/01/2027 | 1883809 | 0.1 |
| 1500000 | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | 1433873 | 0.1 |
| 680000 <sup>(2)</sup> | Avient Corp., 6.250%, 11/01/2031 | 691066 | 0.0 |
| 405000 <sup>(2)</sup> | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 424225 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Basic Materials: (continued)** | **Basic Materials: (continued)** | **Basic Materials: (continued)** |
| 150000 <sup>(2)</sup> | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | $142241 | 0.0 |
| 3005000 <sup>(2)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 3097821 | 0.1 |
| 375000 <sup>(2)</sup> | Chemours Co., 5.750%, 11/15/2028 | 366112 | 0.0 |
| 2340000 <sup>(2)</sup> | Chemours Co., 8.000%, 01/15/2033 | 2329235 | 0.1 |
| 770000 <sup>(2)</sup> | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 742506 | 0.0 |
| 495000 <sup>(2)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 510375 | 0.0 |
| 590000 <sup>(2)</sup><sup>(5)</sup> | Constellium SE, 5.625%, 06/15/2028 | 589589 | 0.0 |
| 1075000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 1128750 | 0.1 |
| 3175000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 | 3390900 | 0.2 |
| 625000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 677969 | 0.0 |
| 1328000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 | 1426272 | 0.1 |
| 1704000 | Ecolab, Inc., 4.300%, 06/15/2028 | 1718177 | 0.1 |
| 875000 <sup>(1)</sup><sup>(2)</sup> | GC Treasury Center Co. Ltd., 6.500%, 12/31/2199 | 890531 | 0.0 |
| 1025000 <sup>(1)</sup><sup>(2)</sup> | GC Treasury Center Co. Ltd., 7.125%, 12/31/2199 | 1062925 | 0.1 |
| 1750000 <sup>(1)</sup><sup>(2)</sup> | Inversiones CMPC SA, 6.700%, 12/09/2057 | 1794371 | 0.1 |
| 1740000 <sup>(2)</sup> | New Gold, Inc., 6.875%, 04/01/2032 | 1823934 | 0.1 |
| 1425000 <sup>(2)</sup><sup>(5)</sup> | Nexa Resources SA, 6.600%, 04/08/2037 | 1470066 | 0.1 |
| 1650000 <sup>(2)</sup> | NOVA Chemicals Corp., 7.000%, 12/01/2031 | 1739814 | 0.1 |
| 405000 <sup>(2)</sup> | Novelis Corp., 3.875%, 08/15/2031 | 369570 | 0.0 |
| 170000 <sup>(2)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 164354 | 0.0 |
| 455000 <sup>(2)</sup> | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 413979 | 0.0 |
| 700000 <sup>(2)</sup> | OCP SA, 6.700%, 03/01/2036 | 749700 | 0.0 |
| 975000 <sup>(2)</sup> | OCP SA, 6.750%, 05/02/2034 | 1064471 | 0.1 |
| 315000 | Olin Corp., 5.000%, 02/01/2030 | 307973 | 0.0 |
| 982000 | Rio Tinto Finance USA PLC, 4.500%, 03/14/2028 | 993101 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Basic Materials: (continued)** | **Basic Materials: (continued)** | **Basic Materials: (continued)** |
| 2025000 <sup>(2)</sup> | Sociedad Quimica y Minera de Chile SA, 5.500%, 09/10/2034 | 2056894 | 0.1 |
| 540000 <sup>(2)</sup> | SPCM SA, 3.125%, 03/15/2027 | 526930 | 0.0 |
|  |  | **37965019** | **1.8** |
|  | **Communications: 1.3%** | **Communications: 1.3%** | **Communications: 1.3%** |
| 540000 <sup>(2)</sup> | Arches Buyer, Inc., 6.125%, 12/01/2028 | 529838 | 0.0 |
| 1180000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 1115212 | 0.1 |
| 895000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 815069 | 0.1 |
| 675000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 669057 | 0.0 |
| 690000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 685915 | 0.0 |
| 205000 <sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 204889 | 0.0 |
| 2218000 | Cisco Systems, Inc., 4.550%, 02/24/2028 | 2252664 | 0.1 |
| 1115000 <sup>(2)</sup> | CommScope, Inc., 4.750%, 09/01/2029 | 1109235 | 0.1 |
| 810000 <sup>(2)</sup><sup>(5)</sup> | Connect Finco Sarl / Connect US Finco LLC, 9.000%, 09/15/2029 | 852650 | 0.1 |
| 2690000 <sup>(2)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 2660333 | 0.1 |
| 271000 <sup>(2)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 | 270901 | 0.0 |
| 455000 <sup>(2)</sup> | GCI LLC, 4.750%, 10/15/2028 | 442568 | 0.0 |
| 475000 <sup>(2)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 485694 | 0.0 |
| 1500000 | Lamar Media Corp., 4.000%, 02/15/2030 | 1437369 | 0.1 |
| 775000 <sup>(2)</sup> | Level 3 Financing, Inc., 4.000%, 04/15/2031 | 670189 | 0.0 |
| 515000 <sup>(2)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 525308 | 0.0 |
| 810000 <sup>(2)</sup> | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 796424 | 0.0 |
| 1890000 <sup>(2)</sup> | Nexstar Media, Inc., 4.750%, 11/01/2028 | 1846289 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 455000 <sup>(2)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 437685 | 0.0 |
| 1265000 <sup>(2)</sup> | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 1259950 | 0.1 |
| 2590000 <sup>(2)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 2627895 | 0.1 |
| 575000 <sup>(2)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 559046 | 0.0 |
| 1681000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | 1602922 | 0.1 |
| 315000 <sup>(2)</sup> | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 298084 | 0.0 |
| 775000 <sup>(2)</sup> | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/2028 | 759822 | 0.0 |
| 200000 <sup>(2)</sup> | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 188374 | 0.0 |
| 1890000 <sup>(2)</sup> | Vmed O2 UK Financing I PLC, 7.750%, 04/15/2032 | 1988068 | 0.1 |
| 1015000 <sup>(2)</sup> | Windstream Escrow LLC / Windstream Escrow Finance Corp., 8.250%, 10/01/2031 | 1052201 | 0.1 |
|  |  | **28143651** | **1.3** |
|  | **Consumer, Cyclical: 3.3%** | **Consumer, Cyclical: 3.3%** | **Consumer, Cyclical: 3.3%** |
| 540000 <sup>(2)</sup> | 1011778 BC ULC / New Red Finance, Inc., 4.000%, 10/15/2030 | 509473 | 0.0 |
| 810000 <sup>(2)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 | 829284 | 0.1 |
| 310000 <sup>(2)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 | 321233 | 0.0 |
| 205000 <sup>(2)</sup><sup>(5)</sup> | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 215161 | 0.0 |
| 420000 <sup>(2)</sup> | Advance Auto Parts, Inc., 7.000%, 08/01/2030 | 432435 | 0.0 |
| 335000 <sup>(2)</sup><sup>(5)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 345722 | 0.0 |
| 185000 <sup>(2)</sup> | Allison Transmission, Inc., 3.750%, 01/30/2031 | 171060 | 0.0 |
| 420000 <sup>(2)</sup> | Allison Transmission, Inc., 5.875%, 06/01/2029 | 423812 | 0.0 |
| 525000 <sup>(2)</sup><sup>(5)</sup> | American Airlines, Inc., 7.250%, 02/15/2028 | 538277 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 42500 <sup>(2)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | $42555 | 0.0 |
| 2415000 <sup>(2)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 2435336 | 0.1 |
| 1928000 | American Honda Finance Corp., GMTN, 4.400%, 10/05/2026 | 1934269 | 0.1 |
| 2014000 | American Honda Finance Corp., MTN, 1.300%, 09/09/2026 | 1964770 | 0.1 |
| 725000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 747114 | 0.0 |
| 625000 <sup>(2)</sup><sup>(5)</sup> | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 598038 | 0.0 |
| 2200000 <sup>(2)</sup> | Caesars Entertainment, Inc., 6.000%, 10/15/2032 | 2168287 | 0.1 |
| 610000 <sup>(2)</sup> | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 627838 | 0.0 |
| 895000 <sup>(2)</sup> | Carnival Corp., 6.000%, 05/01/2029 | 908931 | 0.1 |
| 560000 <sup>(2)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | 582511 | 0.0 |
| 675000 <sup>(2)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 | 690380 | 0.0 |
| 1015000 <sup>(2)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 1116293 | 0.1 |
| 1535000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 1510201 | 0.1 |
| 150000 <sup>(2)</sup> | Gap, Inc., 3.625%, 10/01/2029 | 140537 | 0.0 |
| 405000 <sup>(2)</sup><sup>(5)</sup> | Gap, Inc., 3.875%, 10/01/2031 | 370013 | 0.0 |
| 465000 <sup>(2)</sup> | Garrett Motion Holdings, Inc. / Garrett LX I Sarl, 7.750%, 05/31/2032 | 488158 | 0.0 |
| 410000 <sup>(2)</sup> | Gates Corp., 6.875%, 07/01/2029 | 425949 | 0.0 |
| 3262000 | General Motors Financial Co., Inc., 4.350%, 01/17/2027 | 3266558 | 0.2 |
| 1575000 <sup>(5)</sup> | Goodyear Tire & Rubber Co., 5.250%, 07/15/2031 | 1480787 | 0.1 |
| 440000 <sup>(5)</sup> | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 446795 | 0.0 |
| 550000 <sup>(2)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 563700 | 0.0 |
| 480000 <sup>(2)</sup> | Hanesbrands, Inc., 9.000%, 02/15/2031 | 508703 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 1115000 <sup>(2)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | $1138985 | 0.1 |
| 990000 | Home Depot, Inc., 4.875%, 06/25/2027 | 1006747 | 0.1 |
| 1993000 | Honda Motor Co. Ltd., 2.534%, 03/10/2027 | 1950608 | 0.1 |
| 2940000 | Honda Motor Co. Ltd., 4.436%, 07/08/2028 | 2957854 | 0.1 |
| 1877000 <sup>(2)</sup><sup>(5)</sup> | Hyundai Capital America, 5.650%, 06/26/2026 | 1894855 | 0.1 |
| 1892000 <sup>(2)</sup> | Hyundai Capital America, 5.950%, 09/21/2026 | 1922441 | 0.1 |
| 440000 <sup>(2)</sup> | Installed Building Products, Inc., 5.750%, 02/01/2028 | 439659 | 0.0 |
| 490000 <sup>(2)</sup> | Interface, Inc., 5.500%, 12/01/2028 | 489616 | 0.0 |
| 610000 <sup>(2)</sup> | International Game Technology PLC, 5.250%, 01/15/2029 | 607696 | 0.0 |
| 2750000 <sup>(2)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 2756517 | 0.1 |
| 300000 <sup>(2)</sup><sup>(5)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 | 312221 | 0.0 |
| 3086000 | Lowe's Cos., Inc., 3.350%, 04/01/2027 | 3057234 | 0.2 |
| 220000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 193156 | 0.0 |
| 590000 <sup>(2)</sup> | Macy's Retail Holdings LLC, 6.125%, 03/15/2032 | 591440 | 0.0 |
| 270000 | MGM Resorts International, 4.750%, 10/15/2028 | 268082 | 0.0 |
| 150000 | MGM Resorts International, 6.500%, 04/15/2032 | 152913 | 0.0 |
| 440000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 434471 | 0.0 |
| 135000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 135246 | 0.0 |
| 525000 <sup>(2)</sup> | NCL Corp. Ltd., 5.875%, 01/15/2031 | 525358 | 0.0 |
| 3315000 <sup>(2)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 3411323 | 0.2 |
| 1115000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 1133688 | 0.1 |
| 2525000 <sup>(2)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 2677096 | 0.1 |
| 1305000 <sup>(2)</sup> | Royal Caribbean Cruises Ltd., 5.375%, 07/15/2027 | 1316713 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 290000 <sup>(2)</sup> | Royal Caribbean Cruises Ltd., 5.625%, 09/30/2031 | 295915 | 0.0 |
| 555000 <sup>(5)</sup> | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 577719 | 0.0 |
| 505000 <sup>(2)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 469864 | 0.0 |
| 2825000 <sup>(2)</sup><sup>(5)</sup> | SeaWorld Parks & Entertainment, Inc., 5.250%, 08/15/2029 | 2779923 | 0.1 |
| 645000 <sup>(2)</sup> | Station Casinos LLC, 4.500%, 02/15/2028 | 634599 | 0.0 |
| 420000 <sup>(2)</sup> | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 385210 | 0.0 |
| 100000 <sup>(2)</sup> | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 96113 | 0.0 |
| 1660000 <sup>(2)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 1664226 | 0.1 |
| 1174000 | Toll Brothers Finance Corp., 4.350%, 02/15/2028 | 1177757 | 0.1 |
| 1025000 <sup>(2)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 979892 | 0.1 |
| 1030000 <sup>(2)</sup> | Viking Cruises Ltd., 5.875%, 09/15/2027 | 1031075 | 0.1 |
| 660000 <sup>(2)</sup> | Viking Cruises Ltd., 5.875%, 10/15/2033 | 661288 | 0.0 |
| 150000 <sup>(2)</sup> | Viking Cruises Ltd., 7.000%, 02/15/2029 | 150857 | 0.0 |
| 1000000 <sup>(2)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 | 1058160 | 0.1 |
| 1900000 <sup>(5)</sup> | Warnermedia Holdings, Inc., 4.279%, 03/15/2032 | 1743250 | 0.1 |
| 590000 <sup>(2)</sup> | William Carter Co., 5.625%, 03/15/2027 | 591148 | 0.0 |
| 925000 <sup>(2)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 939962 | 0.1 |
|  |  | **71415057** | **3.3** |
|  | **Consumer, Non-cyclical: 3.4%** | **Consumer, Non-cyclical: 3.4%** | **Consumer, Non-cyclical: 3.4%** |
| 575000 <sup>(2)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 570643 | 0.0 |
| 355000 <sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | 336924 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 390000 <sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/2028 | $390454 | 0.0 |
| 405000 <sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 6.250%, 03/15/2033 | 414809 | 0.0 |
| 575000 <sup>(2)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | 596160 | 0.0 |
| 615000 <sup>(2)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 603338 | 0.0 |
| 3208000 | Amgen, Inc., 5.150%, 03/02/2028 | 3283375 | 0.2 |
| 255000 <sup>(2)</sup> | APi Group DE, Inc., 4.125%, 07/15/2029 | 246723 | 0.0 |
| 285000 <sup>(2)</sup> | APi Group DE, Inc., 4.750%, 10/15/2029 | 279849 | 0.0 |
| 100000 <sup>(2)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 | 99920 | 0.0 |
| 2590000 <sup>(2)</sup><sup>(5)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 2681479 | 0.1 |
| 440000 <sup>(2)</sup> | Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 | 459113 | 0.0 |
| 1965000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 1990134 | 0.1 |
| 925000 <sup>(2)</sup> | Belron UK Finance PLC, 5.750%, 10/15/2029 | 937894 | 0.1 |
| 1325000 <sup>(2)</sup> | Bidvest Group UK PLC, 6.200%, 09/17/2032 | 1334275 | 0.1 |
| 210000 <sup>(2)</sup> | Brink's Co., 6.500%, 06/15/2029 | 216295 | 0.0 |
| 210000 <sup>(2)</sup> | Brink's Co., 6.750%, 06/15/2032 | 218615 | 0.0 |
| 1931000 | Cardinal Health, Inc., 4.700%, 11/15/2026 | 1945050 | 0.1 |
| 675000 <sup>(2)</sup> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 611246 | 0.0 |
| 615000 <sup>(2)</sup> | Cimpress PLC, 7.375%, 09/15/2032 | 613625 | 0.0 |
| 2835000 <sup>(2)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 2947357 | 0.2 |
| 469000 <sup>(2)</sup> | CPI CG, Inc., 10.000%, 07/15/2029 | 492157 | 0.0 |
| 185000 <sup>(2)</sup> | DaVita, Inc., 3.750%, 02/15/2031 | 169573 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
| | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 745000 <sup>(2)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | $714603 | 0.0 |
| 250000 <sup>(2)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 258010 | 0.0 |
| 1888000 <sup>(2)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 | 1924326 | 0.1 |
| 1504000 | Eli Lilly & Co., 4.550%, 02/12/2028 | 1526741 | 0.1 |
| 1115000 <sup>(2)</sup><sup>(5)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 1056930 | 0.1 |
| 700000 <sup>(2)</sup> | EquipmentShare. com, Inc., 8.000%, 03/15/2033 | 748753 | 0.0 |
| 945000 <sup>(2)</sup> | EquipmentShare. com, Inc., 8.625%, 05/15/2032 | 1021445 | 0.1 |
| 505000 <sup>(2)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 533597 | 0.0 |
| 2750000 <sup>(2)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 2832321 | 0.1 |
| 440000 <sup>(2)</sup> | Graham Holdings Co., 5.750%, 06/01/2026 | 440322 | 0.0 |
| 575000 <sup>(2)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 597736 | 0.0 |
| 305000 <sup>(2)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 318633 | 0.0 |
| 430000 <sup>(2)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 447429 | 0.0 |
| 675000 <sup>(2)</sup> | Jazz Securities DAC, 4.375%, 01/15/2029 | 658177 | 0.0 |
| 1443000 | Johnson & Johnson, 4.550%, 03/01/2028 | 1471902 | 0.1 |
| 135000 <sup>(2)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 143996 | 0.0 |
| 675000 <sup>(2)</sup> | LifePoint Health, Inc., 10.000%, 06/01/2032 | 709566 | 0.0 |
| 1535000 <sup>(2)</sup> | Medline Borrower L.P., 5.250%, 10/01/2029 | 1522863 | 0.1 |
| 1000000 <sup>(5)</sup> | Minerva Luxembourg SA, 4.375%, 03/18/2031 | 920000 | 0.1 |
| 1000000 <sup>(2)</sup> | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 1101250 | 0.1 |
| 2005000 <sup>(2)</sup><sup>(5)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 1758072 | 0.1 |
| 200000 <sup>(2)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 6.750%, 05/15/2034 | 192027 | 0.0 |
| 660000 <sup>(5)</sup> | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 664973 | 0.0 |
| 455000 <sup>(2)</sup> | Post Holdings, Inc., 4.625%, 04/15/2030 | 439151 | 0.0 |
| 630000 <sup>(2)</sup> | Post Holdings, Inc., 6.250%, 10/15/2034 | 636819 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 2330000 <sup>(2)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | $2357515 | 0.1 |
| 515000 <sup>(2)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.375%, 04/30/2029 | 500267 | 0.0 |
| 1988000 | Quest Diagnostics, Inc., 4.600%, 12/15/2027 | 2013097 | 0.1 |
| 1215000 <sup>(2)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 1251654 | 0.1 |
| 1115000 <sup>(2)</sup><sup>(5)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | 1116504 | 0.1 |
| 1115000 | Service Corp. International, 5.750%, 10/15/2032 | 1130976 | 0.1 |
| 680000 <sup>(2)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 703532 | 0.0 |
| 1115000 <sup>(2)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1070610 | 0.1 |
| 2080000 | Smith & Nephew PLC, 5.150%, 03/20/2027 | 2109064 | 0.1 |
| 1212000 | Solventum Corp., 5.450%, 02/25/2027 | 1232182 | 0.1 |
| 360000 <sup>(2)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 378456 | 0.0 |
| 475000 <sup>(2)</sup> | Star Parent, Inc., 9.000%, 10/01/2030 | 502760 | 0.0 |
| 1243000 | Stryker Corp., 3.650%, 03/07/2028 | 1232172 | 0.1 |
| 1075000 | Stryker Corp., 4.700%, 02/10/2028 | 1090910 | 0.1 |
| 185000 | Tenet Healthcare Corp., 4.250%, 06/01/2029 | 180828 | 0.0 |
| 440000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 439567 | 0.0 |
| 685000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 694595 | 0.0 |
| 675000 <sup>(2)</sup> | United Natural Foods, Inc., 6.750%, 10/15/2028 | 677039 | 0.0 |
| 185000 <sup>(5)</sup> | United Rentals North America, Inc., 3.750%, 01/15/2032 | 171517 | 0.0 |
| 475000 | United Rentals North America, Inc., 4.875%, 01/15/2028 | 473961 | 0.0 |
| 390000 <sup>(2)</sup> | United Rentals North America, Inc., 6.125%, 03/15/2034 | 406018 | 0.0 |
| 1765000 | UnitedHealth Group, Inc., 2.950%, 10/15/2027 | 1730654 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 985000 <sup>(2)</sup> | US Foods, Inc., 5.750%, 04/15/2033 | 992621 | 0.1 |
| 550000 <sup>(2)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 579920 | 0.0 |
| 1115000 <sup>(2)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 1148706 | 0.1 |
| 4097000 | Zimmer Biomet Holdings, Inc., 4.700%, 02/19/2027 | 4127891 | 0.2 |
|  |  | **72391666** | **3.4** |
|  | **Energy: 2.2%** | **Energy: 2.2%** | **Energy: 2.2%** |
| 340000 <sup>(2)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | 339004 | 0.0 |
| 430000 <sup>(2)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 430911 | 0.0 |
| 73000 <sup>(2)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.875%, 04/01/2027 | 73057 | 0.0 |
| 575000 <sup>(2)</sup><sup>(5)</sup> | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/2029 | 574262 | 0.0 |
| 555000 <sup>(2)</sup><sup>(5)</sup> | Baytex Energy Corp., 8.500%, 04/30/2030 | 571067 | 0.0 |
| 530000 <sup>(2)</sup><sup>(5)</sup> | Civitas Resources, Inc., 8.750%, 07/01/2031 | 543653 | 0.0 |
| 540000 <sup>(2)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 536640 | 0.0 |
| 320000 <sup>(2)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 321484 | 0.0 |
| 2420000 <sup>(2)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 2525391 | 0.1 |
| 1727000 | Diamondback Energy, Inc., 5.200%, 04/18/2027 | 1752530 | 0.1 |
| 185000 <sup>(2)</sup> | DT Midstream, Inc., 4.125%, 06/15/2029 | 180546 | 0.0 |
| 320000 <sup>(2)</sup> | DT Midstream, Inc., 4.375%, 06/15/2031 | 309391 | 0.0 |
| 555000 <sup>(2)</sup> | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 564023 | 0.0 |
| 500000 | Ecopetrol SA, 6.875%, 04/29/2030 | 513850 | 0.0 |
| 1030000 | Ecopetrol SA, 8.375%, 01/19/2036 | 1066565 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 1589000 | Enbridge, Inc., 4.600%, 06/20/2028 | $1608163 | 0.1 |
| 503000 <sup>(2)</sup> | Enerflex Ltd., 9.000%, 10/15/2027 | 513903 | 0.0 |
| 2725000 <sup>(1)</sup> | Energy Transfer L.P. G, 7.125%, 12/31/2199 | 2820953 | 0.2 |
| 2303000 | Enterprise Products Operating LLC, 4.300%, 06/20/2028 | 2321355 | 0.1 |
| 1875000 <sup>(2)</sup> | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 1978986 | 0.1 |
| 285000 <sup>(2)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 5.750%, 02/01/2029 | 280997 | 0.0 |
| 305000 <sup>(2)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 300866 | 0.0 |
| 305000 <sup>(2)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 294877 | 0.0 |
| 1140000 <sup>(2)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | 1184226 | 0.1 |
| 1600000 <sup>(2)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 7.750%, 11/05/2038 | 1760000 | 0.1 |
| 3289000 | Kinder Morgan, Inc., 1.750%, 11/15/2026 | 3204457 | 0.2 |
| 525000 <sup>(2)</sup> | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 528447 | 0.0 |
| 525000 <sup>(2)</sup> | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 545152 | 0.0 |
| 2440000 <sup>(2)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 2523802 | 0.1 |
| 1015000 <sup>(2)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 1038625 | 0.1 |
| 400000 <sup>(2)</sup> | ORLEN SA, 6.000%, 01/30/2035 | 418828 | 0.0 |
| 555000 <sup>(2)</sup> | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 557900 | 0.0 |
| 205000 <sup>(2)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 208971 | 0.0 |
| 1000000 | Petroleos del Peru SA, 4.750%, 06/19/2032 | 871750 | 0.1 |
| 3300000 | Petroleos Mexicanos, 6.500%, 03/13/2027 | 3347025 | 0.2 |
| 1475000 <sup>(2)</sup> | Pluspetrol Camisea SA / Pluspetrol Lote 56 SA, 6.240%, 07/03/2036 | 1579946 | 0.1 |
| 400000 <sup>(2)</sup> | Raizen Fuels Finance SA, 5.700%, 01/17/2035 | 369940 | 0.0 |
| 1000000 <sup>(2)</sup> | Raizen Fuels Finance SA, 6.700%, 02/25/2037 | 967620 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 130000 <sup>(2)</sup> | SM Energy Co., 7.000%, 08/01/2032 | 130195 | 0.0 |
| 1015000 <sup>(2)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 1020798 | 0.1 |
| 575000 <sup>(2)</sup> | Sunoco L.P., 5.875%, 03/15/2034 | 570381 | 0.0 |
| 465000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 448077 | 0.0 |
| 1555000 <sup>(2)</sup> | Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp., 6.000%, 03/01/2027 | 1555607 | 0.1 |
| 525000 | Transocean International Ltd., 7.875%, 10/15/2032 | 5250 | 0.0 |
| 227250 <sup>(2)</sup> | Transocean Poseidon Ltd., 6.875%, 02/01/2027 | 227706 | 0.0 |
| 64762 <sup>(2)</sup> | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 66530 | 0.0 |
| 620000 <sup>(2)</sup><sup>(5)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 642004 | 0.1 |
| 590000 <sup>(2)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 611104 | 0.0 |
| 525000 <sup>(2)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 551605 | 0.0 |
| 555000 <sup>(2)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 | 584572 | 0.0 |
| 555000 <sup>(2)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 589855 | 0.0 |
|  |  | **46532847** | **2.2** |
|  | **Financial: 5.0%** | **Financial: 5.0%** | **Financial: 5.0%** |
| 265000 <sup>(2)</sup> | Acrisure LLC / Acrisure Finance, Inc., 6.000%, 08/01/2029 | 261446 | 0.0 |
| 505000 <sup>(2)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 526478 | 0.0 |
| 240000 <sup>(2)</sup> | Acrisure LLC / Acrisure Finance, Inc., 8.500%, 06/15/2029 | 252162 | 0.0 |
| 660000 <sup>(2)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 675631 | 0.0 |
| 540000 <sup>(2)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 7.375%, 10/01/2032 | 557108 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 285000 | Ally Financial, Inc., 5.750%, 11/20/2025 | $285176 | 0.0 |
| 235000 <sup>(5)</sup> | Ally Financial, Inc., 6.700%, 02/14/2033 | 244923 | 0.0 |
| 1892000 <sup>(1)</sup> | American Express Co., 5.098%, 02/16/2028 | 1917616 | 0.1 |
| 3343000 <sup>(1)</sup> | American Express Co., 5.389%, 07/28/2027 | 3375620 | 0.2 |
| 3543000 | American Tower Corp., 3.650%, 03/15/2027 | 3518085 | 0.2 |
| 330000 | American Tower Corp., 5.250%, 07/15/2028 | 339487 | 0.0 |
| 261000 | American Tower Corp., 5.500%, 03/15/2028 | 269071 | 0.0 |
| 1535000 | Aon North America, Inc., 5.125%, 03/01/2027 | 1556974 | 0.1 |
| 698000 <sup>(2)</sup> | Avolon Holdings Funding Ltd., 2.528%, 11/18/2027 | 671692 | 0.0 |
| 1950000 <sup>(1)</sup><sup>(2)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 | 2032875 | 0.1 |
| 984000 <sup>(1)</sup><sup>(2)</sup> | Banco del Estado de Chile, 7.950%, 12/31/2199 | 1055955 | 0.1 |
| 3040000 <sup>(1)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 2979613 | 0.1 |
| 3781000 <sup>(1)</sup> | Bank of America Corp., 3.705%, 04/24/2028 | 3757109 | 0.2 |
| 1938000 <sup>(1)</sup> | Bank of America Corp., 4.376%, 04/27/2028 | 1945302 | 0.1 |
| 1266000 <sup>(1)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 1199411 | 0.1 |
| 3683000 <sup>(1)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 3607661 | 0.2 |
| 1673000 | Brown & Brown, Inc., 4.700%, 06/23/2028 | 1689875 | 0.1 |
| 420000 <sup>(2)</sup> | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 422549 | 0.0 |
| 2213000 <sup>(1)</sup><sup>(2)</sup> | CaixaBank SA, 4.634%, 07/03/2029 | 2229022 | 0.1 |
| 3172000 <sup>(1)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | 3091047 | 0.1 |
| 1225000 <sup>(2)</sup> | CFE Fibra E, 5.875%, 09/23/2040 | 1233330 | 0.1 |
| 2986000 | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 2961591 | 0.1 |
| 2011000 <sup>(1)</sup> | Deutsche Bank AG/ New York NY, 2.311%, 11/16/2027 | 1967228 | 0.1 |
| 2765000 <sup>(2)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 2833719 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 290000 <sup>(2)</sup> | Freedom Mortgage Corp., 12.250%, 10/01/2030 | $323752 | 0.0 |
| 500000 <sup>(2)</sup> | Freedom Mortgage Holdings LLC, 8.375%, 04/01/2032 | 524490 | 0.0 |
| 120000 <sup>(2)</sup> | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 127776 | 0.0 |
| 1990000 <sup>(1)</sup> | Goldman Sachs Group, Inc., 2.640%, 02/24/2028 | 1948510 | 0.1 |
| 1115000 <sup>(2)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 1121319 | 0.1 |
| 1045000 <sup>(2)</sup> | Iron Mountain, Inc., 5.250%, 07/15/2030 | 1034144 | 0.1 |
| 985000 <sup>(2)</sup> | Jane Street Group / JSG Finance, Inc., 6.125%, 11/01/2032 | 999095 | 0.0 |
| 1976000 <sup>(1)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 1945427 | 0.1 |
| 2019000 <sup>(1)</sup> | JPMorgan Chase & Co., 4.505%, 10/22/2028 | 2036805 | 0.1 |
| 1889000 <sup>(1)</sup> | JPMorgan Chase & Co., 5.040%, 01/23/2028 | 1910742 | 0.1 |
| 1891000 <sup>(1)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 1932823 | 0.1 |
| 4002000 <sup>(1)</sup> | JPMorgan Chase & Co., 6.070%, 10/22/2027 | 4082294 | 0.2 |
| 2149000 | KeyBank NA/ Cleveland OH, 4.390%, 12/14/2027 | 2161540 | 0.1 |
| 135000 <sup>(2)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 133917 | 0.0 |
| 455000 <sup>(2)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 446860 | 0.0 |
| 1877000 <sup>(1)</sup> | Lloyds Banking Group PLC, 5.985%, 08/07/2027 | 1904125 | 0.1 |
| 1612000 | Marsh & McLennan Cos., Inc., 4.550%, 11/08/2027 | 1630643 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(2)</sup> | MF1 Multi-Family Housing Mortgage Loan Trust 2024-FL15 A, 5.824%, (TSFR1M + 1.688%), 08/18/2041 | 3011758 | 0.1 |
| 200000 <sup>(2)</sup> | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 188748 | 0.0 |
| 2515000 <sup>(2)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 2499724 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 1988000 <sup>(1)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | $1945918 | 0.1 |
| 3407000 <sup>(1)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 3334411 | 0.2 |
| 390000 <sup>(2)</sup> | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 390000 | 0.0 |
| 235000 | Navient Corp., 5.000%, 03/15/2027 | 234129 | 0.0 |
| 935000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 925176 | 0.0 |
| 505000 | OneMain Finance Corp., 6.500%, 03/15/2033 | 506429 | 0.0 |
| 76000 | OneMain Finance Corp., 7.125%, 03/15/2026 | 76743 | 0.0 |
| 3450000 <sup>(2)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 3590822 | 0.2 |
| 575000 <sup>(2)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 593224 | 0.0 |
| 1115000 <sup>(2)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 | 1152756 | 0.1 |
| 405000 <sup>(2)</sup><sup>(5)</sup> | PRA Group, Inc., 5.000%, 10/01/2029 | 376442 | 0.0 |
| 285000 <sup>(2)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 06/15/2033 | 293711 | 0.0 |
| 625000 <sup>(2)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 645231 | 0.0 |
| 1385000 <sup>(2)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 1431209 | 0.1 |
| 2602000 <sup>(1)</sup> | Royal Bank of Canada, GMTN, 4.522%, 10/18/2028 | 2624265 | 0.1 |
| 1159000 <sup>(1)</sup> | Royal Bank of Canada, GMTN, 4.715%, 03/27/2028 | 1170699 | 0.1 |
| 1675000 <sup>(1)</sup><sup>(2)</sup> | Scotiabank Peru SAA, 6.100%, 10/01/2035 | 1745249 | 0.1 |
| 315000 <sup>(2)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 326069 | 0.0 |
| 1666000 | Toronto-Dominion Bank, GMTN, 4.980%, 04/05/2027 | 1690545 | 0.1 |
| 1985000 <sup>(1)</sup> | Truist Financial Corp., MTN, 1.267%, 03/02/2027 | 1960514 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 515000 <sup>(2)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 532981 | 0.0 |
| 1960000 <sup>(1)</sup> | Wells Fargo & Co., MTN, 3.526%, 03/24/2028 | 1942760 | 0.1 |
| 1781000 <sup>(1)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 | 1765260 | 0.1 |
|  |  | **106676791** | **5.0** |
|  | **Government: 0.1%** | **Government: 0.1%** | **Government: 0.1%** |
| 1775000 <sup>(2)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 | 1804287 | 0.1 |
|  | **Industrial: 2.4%** | **Industrial: 2.4%** | **Industrial: 2.4%** |
| 440000 <sup>(2)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 453262 | 0.0 |
| 1532000 | AGCO Corp., 5.450%, 03/21/2027 | 1554880 | 0.1 |
| 1700000 <sup>(2)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 1770947 | 0.1 |
| 1266000 | Amphenol Corp., 4.375%, 06/12/2028 | 1277660 | 0.1 |
| 1075000 <sup>(2)</sup> | Amsted Industries, Inc., 6.375%, 03/15/2033 | 1104305 | 0.1 |
| 615000 <sup>(2)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 | 642871 | 0.0 |
| 1600000 <sup>(2)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | 1671694 | 0.1 |
| 320000 <sup>(2)</sup> | Bombardier, Inc., 7.500%, 02/01/2029 | 333966 | 0.0 |
| 420000 <sup>(2)</sup> | Brundage-Bone Concrete Pumping Holdings, Inc., 7.500%, 02/01/2032 | 424707 | 0.0 |
| 895000 <sup>(2)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 | 925941 | 0.1 |
| 525000 <sup>(2)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 522202 | 0.0 |
| 1282000 | Caterpillar Financial Services Corp., 4.400%, 03/03/2028 | 1295949 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(2)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 | 1040400 | 0.1 |
| 575000 <sup>(2)</sup> | Chart Industries, Inc., 7.500%, 01/01/2030 | 599141 | 0.0 |
| 490000 <sup>(2)</sup> | Clean Harbors, Inc., 6.375%, 02/01/2031 | 502201 | 0.0 |
| 1115000 <sup>(2)</sup> | Clydesdale Acquisition Holdings, Inc., 6.750%, 04/15/2032 | 1144653 | 0.1 |
| 1115000 <sup>(2)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 1147557 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 500000 <sup>(2)</sup> | Energizer Holdings, Inc., 4.750%, 06/15/2028 | $492015 | 0.0 |
| 475000 <sup>(2)</sup><sup>(5)</sup> | Energizer Holdings, Inc., 6.000%, 09/15/2033 | 465155 | 0.0 |
| 1069000 <sup>(2)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 1076678 | 0.1 |
| 1359000 | GATX Corp., 5.400%, 03/15/2027 | 1379295 | 0.1 |
| 505000 <sup>(2)</sup> | GFL Environmental, Inc., 4.000%, 08/01/2028 | 493509 | 0.0 |
| 305000 <sup>(2)</sup> | GFL Environmental, Inc., 4.375%, 08/15/2029 | 297829 | 0.0 |
| 220000 <sup>(2)</sup> | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 216360 | 0.0 |
| 235000 <sup>(2)</sup> | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | 248858 | 0.0 |
| 690000 <sup>(2)</sup> | Graham Packaging Co., Inc., 7.125%, 08/15/2028 | 692416 | 0.0 |
| 660000 <sup>(2)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 642510 | 0.0 |
| 2946000 | Ingersoll Rand, Inc., 5.197%, 06/15/2027 | 2996874 | 0.1 |
| 1589000 | John Deere Capital Corp. I, 4.250%, 06/05/2028 | 1602617 | 0.1 |
| 1589000 | L3Harris Technologies, Inc., 4.400%, 06/15/2028 | 1599814 | 0.1 |
| 2035000 <sup>(2)</sup><sup>(5)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 2074125 | 0.1 |
| 2075000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 01/12/2027 | 2100974 | 0.1 |
| 1750000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 1800723 | 0.1 |
| 2225000 <sup>(2)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2306488 | 0.1 |
| 1612000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 1656484 | 0.1 |
| 490000 <sup>(2)</sup> | Sealed Air Corp., 4.000%, 12/01/2027 | 481291 | 0.0 |
| 285000 <sup>(2)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 289160 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 590000 <sup>(2)</sup> | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 545032 | 0.0 |
| 610000 <sup>(2)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 644729 | 0.0 |
| 455000 <sup>(2)</sup> | Standard Industries, Inc., 3.375%, 01/15/2031 | 412429 | 0.0 |
| 285000 <sup>(2)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | 273438 | 0.0 |
| 430000 <sup>(2)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 | 453159 | 0.0 |
| 405000 <sup>(2)</sup> | Terex Corp., 6.250%, 10/15/2032 | 412904 | 0.0 |
| 645000 <sup>(2)</sup> | TransDigm, Inc., 6.000%, 01/15/2033 | 652716 | 0.0 |
| 165000 <sup>(2)</sup> | TransDigm, Inc., 6.250%, 01/31/2034 | 169812 | 0.0 |
| 1100000 <sup>(2)</sup> | TransDigm, Inc., 6.375%, 05/31/2033 | 1115117 | 0.1 |
| 370000 <sup>(2)</sup> | TransDigm, Inc., 6.625%, 03/01/2032 | 381394 | 0.0 |
| 525000 <sup>(2)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 543204 | 0.0 |
| 1896000 | Veralto Corp., 5.500%, 09/18/2026 | 1919620 | 0.1 |
| 1957000 | Waste Management, Inc., 4.950%, 07/03/2027 | 1991739 | 0.1 |
| 1670000 <sup>(2)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 1733956 | 0.1 |
| 440000 <sup>(2)</sup> | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 431216 | 0.0 |
|  |  | **51005976** | **2.4** |
|  | **Technology: 1.4%** | **Technology: 1.4%** | **Technology: 1.4%** |
| 860000 | Advanced Micro Devices, Inc., 4.319%, 03/24/2028 | 867673 | 0.1 |
| 540000 <sup>(2)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 | 561147 | 0.0 |
| 1911000 | Analog Devices, Inc., 4.250%, 06/15/2028 | 1924822 | 0.1 |
| 1944000 | Broadcom, Inc., 4.150%, 02/15/2028 | 1949469 | 0.1 |
| 1921000 | Broadcom, Inc., 4.800%, 04/15/2028 | 1956719 | 0.1 |
| 800000 <sup>(2)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 826241 | 0.1 |
| 2786000 | Cadence Design Systems, Inc., 4.200%, 09/10/2027 | 2798672 | 0.1 |
| 3310000 <sup>(2)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 3343498 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Technology: (continued)** |  |  |
| 525000 <sup>(2)</sup> | Cloud Software Group, Inc., 6.625%, 08/15/2033 | $534969 | 0.0 |
| 2060000 <sup>(2)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 2130048 | 0.1 |
| 340000 <sup>(2)</sup> | Entegris Escrow Corp., 5.950%, 06/15/2030 | 345180 | 0.0 |
| 235000 <sup>(2)</sup> | Entegris, Inc., 3.625%, 05/01/2029 | 223620 | 0.0 |
| 645000 <sup>(2)</sup> | Fair Isaac Corp., 6.000%, 05/15/2033 | 654638 | 0.0 |
| 3173000 | Fiserv, Inc., 5.150%, 03/15/2027 | 3215893 | 0.2 |
| 700000 <sup>(2)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 733804 | 0.0 |
| 550000 <sup>(2)</sup> | McAfee Corp., 7.375%, 02/15/2030 | 510816 | 0.0 |
| 270000 <sup>(2)</sup> | Open Text Corp., 3.875%, 12/01/2029 | 255544 | 0.0 |
| 540000 <sup>(2)</sup> | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 512215 | 0.0 |
| 535000 <sup>(2)(5)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | 491684 | 0.0 |
| 791000 | Synopsys, Inc., 4.650%, 04/01/2028 | 799991 | 0.0 |
| 3325000 <sup>(2)</sup> | UKG, Inc., 6.875%, 02/01/2031 | 3433362 | 0.2 |
| 1763000 | VMware LLC, 3.900%, 08/21/2027 | 1756906 | 0.1 |
|  |  | **29826911** | **1.4** |
|  | **Utilities: 1.6%** |  |  |
| 1282000 | AES Corp., 5.450%, 06/01/2028 | 1313351 | 0.1 |
| 1246610 <sup>(2)</sup> | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 1182722 | 0.1 |
| 376335 | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 357048 | 0.0 |
| 2257000 | Alabama Power Co., 3.750%, 09/01/2027 | 2253588 | 0.1 |
| 1015000 <sup>(2)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 | 1048495 | 0.0 |
| 1856000 | Ameren Corp., 5.700%, 12/01/2026 | 1885691 | 0.1 |
| 2748000 | Ameren Illinois Co., 3.800%, 05/15/2028 | 2739061 | 0.1 |
| 320000 <sup>(2)</sup> | Calpine Corp., 4.500%, 02/15/2028 | 318863 | 0.0 |
| 270000 <sup>(2)</sup> | Calpine Corp., 5.000%, 02/01/2031 | 269380 | 0.0 |
| 440000 <sup>(2)</sup> | Calpine Corp., 5.125%, 03/15/2028 | 440550 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Utilities: (continued)** |  |  |
| 1397000 <sup>(2)</sup> | Capital Power US Holdings, Inc., 5.257%, 06/01/2028 | $1424067 | 0.1 |
| 1075256 <sup>(2)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 | 1105497 | 0.0 |
| 1225000 <sup>(2)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 1247969 | 0.1 |
| 1700000 <sup>(2)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 1739202 | 0.1 |
| 1397000 | Eversource Energy, 2.900%, 03/01/2027 | 1372529 | 0.1 |
| 1105000 | Georgia Power Co., 5.004%, 02/23/2027 | 1121029 | 0.0 |
| 540000 <sup>(2)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 | 572098 | 0.0 |
| 2026000 | National Rural Utilities Cooperative Finance Corp., 4.120%, 09/16/2027 | 2034471 | 0.1 |
| 1696000 | NextEra Energy Capital Holdings, Inc., 4.625%, 07/15/2027 | 1713302 | 0.1 |
| 480000 <sup>(2)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 | 487836 | 0.0 |
| 520000 <sup>(2)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 | 533372 | 0.0 |
| 3285000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | 3402032 | 0.2 |
| 1890000 | Sempra Energy, 5.400%, 08/01/2026 | 1907048 | 0.1 |
| 2950000 | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 2535588 | 0.1 |
| 320000 <sup>(2)</sup> | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 313535 | 0.0 |
| 505000 <sup>(2)</sup> | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | 504985 | 0.0 |
| 235000 <sup>(2)</sup> | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 235319 | 0.0 |
| 320000 <sup>(2)</sup> | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | 338853 | 0.0 |
| 1251000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 | 1180077 | 0.1 |
|  |  | **35577558** | **1.6** |
|  | Total Corporate Bonds/Notes |  |  |
|  | (Cost $476,093,235) | **481339763** | **22.5** |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 18.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 18.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 18.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 18.6%** |
| 5000000 <sup>(1)(2)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.900%, (TSFR1M + 1.750%), 06/15/2035 | $5008045 | 0.2 |
| 1762029 <sup>(1)(2)</sup> | AREIT LLC 2023-CRE8 A, 6.255%, (TSFR1M + 2.112%), 08/17/2041 | 1764005 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | AREIT Ltd. 2025-CRE10 A, 5.531%, (TSFR1M + 1.388%), 12/17/2029 | 5012943 | 0.2 |
| 3500000 <sup>(1)(2)</sup> | ARES1 2024-IND2 A, 5.593%, (TSFR1M + 1.443%), 10/15/2034 | 3506743 | 0.2 |
| 1500000 <sup>(2)</sup> | ARZ Trust 2024-BILT C, 6.361%, 06/11/2039 | 1538137 | 0.1 |
| 1600000 <sup>(2)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM A, 5.590%, 11/10/2029 | 1632683 | 0.1 |
| 3400000 <sup>(2)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM B, 6.090%, 11/10/2029 | 3475142 | 0.2 |
| 2500000 <sup>(1)(2)</sup> | BAHA Trust 2024-MAR A, 6.171%, 12/10/2041 | 2588626 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | BAHA Trust 2024-MAR B, 7.069%, 12/10/2041 | 2609519 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | BAMLL Trust 2025-ASHF A, 6.001%, (TSFR1M + 1.850%), 02/15/2042 | 2006034 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | BAMLL Trust 2025-ASHF B, 6.501%, (TSFR1M + 2.350%), 02/15/2042 | 1006518 | 0.1 |
| 685000 <sup>(1)</sup> | BANK 2017-BNK4 C, 4.372%, 05/15/2050 | 610029 | 0 |
| 5320000 <sup>(1)(2)(3)</sup> | BANK 2017-BNK4 XE, 1.630%, 05/15/2050 | 97596 | 0 |
| 16600000 <sup>(1)(2)(3)</sup> | BANK 2017-BNK6 XE, 1.500%, 07/15/2060 | 373140 | 0 |
| 9245618 <sup>(1)(3)</sup> | BANK 2019-BN16 XA, 1.091%, 02/15/2052 | 217563 | 0 |
| 47977633 <sup>(1)(3)</sup> | BANK 2019-BN17 XA, 1.150%, 04/15/2052 | 1368005 | 0.1 |
| 56850016 <sup>(1)(3)</sup> | BANK 2019-BN22 XA, 0.694%, 11/15/2062 | 1172787 | 0.1 |
| 2500000 <sup>(1)</sup> | BANK5 2024-5YR10 C, 5.743%, 10/15/2057 | 2483786 | 0.1 |
| 2000000 <sup>(1)</sup> | BANK5 2025-5YR15 C, 5.806%, 07/15/2058 | 2011356 | 0.1 |
| 1000000 <sup>(1)</sup> | BBCMS Mortgage Trust 2024-5C31 C, 5.756%, 12/15/2057 | 1006315 | 0.1 |
| 1300000 <sup>(1)</sup> | BBCMS Mortgage Trust 2025-5C34 B, 6.542%, 05/15/2058 | 1368991 | 0.1 |
| 1000000 <sup>(1)</sup> | BBCMS Mortgage Trust 2025-5C36 B, 6.187%, 08/15/2058 | 1040240 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 9875481 <sup>(1)(3)</sup> | BBCMS Trust 2021-C10 XA, 1.329%, 07/15/2054 | $503283 | 0 |
| 2000000 <sup>(1)(2)</sup> | BDS LLC 2024-FL13 A, 5.710%, (TSFR1M + 1.576%), 09/19/2039 | 2011330 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | BDS LLC 2025-FL15 A, 5.534%, (TSFR1M + 1.400%), 03/19/2043 | 5014065 | 0.2 |
| 917191 <sup>(1)(2)</sup> | BDS Ltd. 2021-FL10 A, 5.600%, (TSFR1M + 1.464%), 12/16/2036 | 917426 | 0 |
| 95675665 <sup>(1)(3)</sup> | Benchmark Mortgage Trust 2018-B7 XA, 0.561%, 05/15/2053 | 920873 | 0 |
| 43392010 <sup>(1)(3)</sup> | Benchmark Mortgage Trust 2019-B10 XA, 1.380%, 03/15/2062 | 1575260 | 0.1 |
| 42285000 <sup>(1)(2)(3)</sup> | Benchmark Mortgage Trust 2019-B10 XB, 1.073%, 03/15/2062 | 1198573 | 0.1 |
| 39249311 <sup>(1)(3)</sup> | Benchmark Mortgage Trust 2019-B12 XA, 1.201%, 08/15/2052 | 1001974 | 0.1 |
| 3090000 <sup>(2)</sup> | Benchmark Mortgage Trust 2019-B9 D, 3.000%, 03/15/2052 | 2051267 | 0.1 |
| 7330000 <sup>(1)(2)(3)</sup> | Benchmark Mortgage Trust 2019-B9 XD, 2.157%, 03/15/2052 | 412162 | 0 |
| 950000 <sup>(1)</sup> | Benchmark Mortgage Trust 2020-B16 AM, 2.944%, 02/15/2053 | 864521 | 0 |
| 17298909 <sup>(1)(3)</sup> | Benchmark Mortgage Trust 2021-B24 XA, 1.250%, 03/15/2054 | 707637 | 0 |
| 9612476 <sup>(1)(3)</sup> | Benchmark Mortgage Trust 2021-B28 XA, 1.351%, 08/15/2054 | 490668 | 0 |
| 2000000 <sup>(1)</sup> | Benchmark Mortgage Trust 2025-V16 B, 6.339%, 08/15/2058 | 2074165 | 0.1 |
| 1000000 <sup>(1)</sup> | Benchmark Mortgage Trust 2025-V17 C, 5.873%, 09/15/2058 | 1005981 | 0.1 |
| 1853994 <sup>(1)(2)</sup> | BFLD Mortgage Trust 2024-WRHS A, 5.642%, (TSFR1M + 1.492%), 08/15/2026 | 1856419 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | BHMS Commercial Mortgage Trust 2025-ATLS B, 6.700%, (TSFR1M + 2.550%), 08/15/2042 | 5016670 | 0.2 |
| 2100000 <sup>(1)(2)</sup> | BIG Commercial Mortgage Trust 2022-BIG B, 5.891%, (TSFR1M + 1.741%), 02/15/2039 | 2095817 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 2653000 <sup>(2)(4)</sup> | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | $2286816 | 0.1 |
| 3002000 <sup>(2)</sup> | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.357%, 05/25/2052 | 2553449 | 0.1 |
| 2500000 <sup>(1)</sup> | BMO Mortgage Trust 2024-5C7 A3, 5.566%, 11/15/2057 | 2598714 | 0.1 |
| 3500000 | BMO Mortgage Trust 2025-5C10 A3, 5.578%, 05/15/2058 | 3652032 | 0.2 |
| 2500000 <sup>(1)</sup> | BMO Mortgage Trust 2025-5C10 B, 6.445%, 05/15/2058 | 2614570 | 0.1 |
| 4100000 <sup>(1)(2)</sup> | BMP 2024-MF23 C, 5.991%, (TSFR1M + 1.841%), 06/15/2041 | 4115075 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.486%, (TSFR1M + 1.386%), 01/17/2043 | 998424 | 0.0 |
| 2391012 <sup>(1)(2)</sup> | BX 2024-BRVE A, 5.991%, (TSFR1M + 1.841%), 04/15/2026 | 2397460 | 0.1 |
| 4326923 <sup>(1)(2)</sup> | BX 2024-PALM A, 5.691%, (TSFR1M + 1.541%), 06/15/2037 | 4339138 | 0.2 |
| 4970000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2021-21M E, 6.435%, (TSFR1M + 2.285%), 10/15/2036 | 4966730 | 0.2 |
| 3390898 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2021-VOLT D, 5.915%, (TSFR1M + 1.764%), 09/15/2036 | 3382048 | 0.2 |
| 1453242 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2021-VOLT F, 6.665%, (TSFR1M + 2.514%), 09/15/2036 | 1451473 | 0.1 |
| 2362829 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2023-XL3 A, 5.912%, (TSFR1M + 1.761%), 12/09/2040 | 2368766 | 0.1 |
| 2397950 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-AIR2 A, 5.643%, (TSFR1M + 1.492%), 10/15/2041 | 2404870 | 0.1 |
| 4680976 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-AIRC A, 5.841%, (TSFR1M + 1.691%), 08/15/2039 | 4696460 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1745044 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-GPA3 A, 5.443%, (TSFR1M + 1.293%), 12/15/2039 | $1751446 | 0.1 |
| 1974013 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-KING A, 5.691%, (TSFR1M + 1.541%), 05/15/2034 | 1977119 | 0.1 |
| 1328182 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-MF D, 6.840%, (TSFR1M + 2.690%), 02/15/2039 | 1334084 | 0.1 |
| 1856070 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-XL4 A, 5.592%, (TSFR1M + 1.442%), 02/15/2039 | 1859843 | 0.1 |
| 1392053 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-XL4 C, 6.341%, (TSFR1M + 2.191%), 02/15/2039 | 1398197 | 0.1 |
| 4579317 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-XL5 C, 6.091%, (TSFR1M + 1.941%), 03/15/2041 | 4593263 | 0.2 |
| 3500000 <sup>(1)(2)</sup> | BX Trust 2021-LBA EJV, 6.265%, (TSFR1M + 2.114%), 02/15/2036 | 3496038 | 0.2 |
| 2767834 <sup>(1)(2)</sup> | BX Trust 2021-LBA EV, 6.265%, (TSFR1M + 2.114%), 02/15/2036 | 2764701 | 0.1 |
| 845329 <sup>(1)(2)</sup> | BX Trust 2021-RISE B, 5.514%, (TSFR1M + 1.364%), 11/15/2036 | 844611 | 0.0 |
| 927976 <sup>(1)(2)</sup> | BX Trust 2021-SDMF D, 5.651%, (TSFR1M + 1.501%), 09/15/2034 | 924336 | 0.0 |
| 1391964 <sup>(1)(2)</sup> | BX Trust 2021-SDMF E, 5.851%, (TSFR1M + 1.701%), 09/15/2034 | 1386563 | 0.1 |
| 700000 <sup>(1)(2)</sup> | BX Trust 2022-FOX2 C, 5.460%, (TSFR1M + 1.309%), 04/15/2039 | 698689 | 0.0 |
| 1180000 <sup>(1)(2)</sup> | BX Trust 2022-LBA6 C, 5.750%, (TSFR1M + 1.600%), 01/15/2039 | 1180294 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | BX Trust 2022-VAMF F, 7.449%, (TSFR1M + 3.299%), 01/15/2039 | 1489535 | 0.1 |
| 1384060 <sup>(1)(2)</sup> | BX Trust 2024-CNYN C, 6.091%, (TSFR1M + 1.941%), 04/15/2041 | 1387899 | 0.1 |
| 961153 <sup>(1)(2)</sup> | BX Trust 2024-CNYN D, 6.840%, (TSFR1M + 2.690%), 04/15/2041 | 965882 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 3000000 <sup>(1)(2)</sup> | BX Trust 2024-VLT4 A, 5.642%, (TSFR1M + 1.491%), 06/15/2041 | $3005602 | 0.1 |
| 2490288 <sup>(1)(2)</sup> | BX Trust 2025-ROIC C, 5.693%, (TSFR1M + 1.543%), 03/15/2030 | 2487943 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | BX Trust 2025-TAIL A, 5.550%, (TSFR1M + 1.400%), 06/15/2035 | 1999881 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | BX Trust 2025-VLT6 C, 6.342%, (TSFR1M + 2.192%), 03/15/2042 | 5004532 | 0.2 |
| 4000000 <sup>(1)(2)</sup> | Caliun 2024-SUN A, 6.108%, (TSFR1M + 1.891%), 07/15/2041 | 4014993 | 0.2 |
| 1660000 <sup>(1)</sup> | Cantor Commercial Real Estate Lending 2019-CF1 B, 4.178%, 05/15/2052 | 1528582 | 0.1 |
| 88073903 <sup>(1)(3)</sup> | Cantor Commercial Real Estate Lending 2019-CF1 XA, 1.270%, 05/15/2052 | 2408011 | 0.1 |
| 32263886 <sup>(1)(3)</sup> | Cantor Commercial Real Estate Lending 2019-CF2 XA, 1.303%, 11/15/2052 | 1100102 | 0.1 |
| 1250000 <sup>(1)</sup> | CCUBS Commercial Mortgage Trust 2017-C1 B, 4.159%, 11/15/2050 | 1186265 | 0.1 |
| 6410271 <sup>(1)(3)</sup> | CD Mortgage Trust 2016-CD1 XA, 1.473%, 08/10/2049 | 25357 | 0.0 |
| 14660000 <sup>(1)(2)(3)</sup> | CD Mortgage Trust 2016-CD1 XB, 0.806%, 08/10/2049 | 47698 | 0.0 |
| 165275 | Citigroup Commercial Mortgage Trust 2015-GC31 A4, 3.762%, 06/10/2048 | 162369 | 0.0 |
| 37433755 <sup>(1)(3)</sup> | Citigroup Commercial Mortgage Trust 2019-GC41 XA, 1.159%, 08/10/2056 | 1129900 | 0.1 |
| 9058358 <sup>(1)(3)</sup> | COMM Mortgage Trust 2016-COR1 XA, 1.457%, 10/10/2049 | 40209 | 0.0 |
| 1500000 <sup>(1)</sup> | COMM Mortgage Trust 2017-COR2 B, 4.206%, 09/10/2050 | 1447527 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 3060745 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 3051434 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 3848902 <sup>(1)(2)(3)</sup> | Commercial Mortgage Pass Through Certificates 2012-LTRT XA, 0.927%, 10/05/2030 | $33953 | 0.0 |
| 1500000 <sup>(1)(2)</sup> | CONE Trust 2024-DFW1 A, 5.792%, (TSFR1M + 1.642%), 08/15/2041 | 1500991 | 0.1 |
| 2200000 <sup>(1)</sup> | CSAIL Commercial Mortgage Trust 2020-C19 B, 3.476%, 03/15/2053 | 1862052 | 0.1 |
| 3650000 <sup>(1)(2)</sup> | DC Trust 2024-HLTN A, 5.933%, 04/13/2040 | 3693545 | 0.2 |
| 2750000 <sup>(1)(2)</sup> | DK Trust 2024-SPBX D, 6.900%, (TSFR1M + 2.750%), 03/15/2034 | 2760765 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | DTP Commercial Mortgage Trust 2023-STE2 A, 6.038%, 01/15/2041 | 2054962 | 0.1 |
| 2000000 <sup>(2)</sup> | ELM Trust 2024-ELM C15, 6.396%, 06/10/2039 | 2018050 | 0.1 |
| 6169304 <sup>(1)(2)</sup> | EQUS Mortgage Trust 2021-EQAZ C, 5.765%, (TSFR1M + 1.614%), 10/15/2038 | 6162391 | 0.3 |
| 843276 <sup>(1)(2)</sup> | Extended Stay America Trust 2021-ESH E, 7.114%, (TSFR1M + 2.964%), 07/15/2038 | 844819 | 0.0 |
| 1686552 <sup>(1)(2)</sup> | Extended Stay America Trust 2021-ESH F, 7.964%, (TSFR1M + 3.814%), 07/15/2038 | 1690423 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | Extended Stay America Trust 2025-ESH D, 6.750%, (TSFR1M + 2.600%), 10/15/2042 | 1510311 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Extended Stay America Trust 2025-ESH E, 7.500%, (TSFR1M + 3.350%), 10/15/2042 | 2012501 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Fashion Show Mall LLC 2024-SHOW A, 5.274%, 10/10/2041 | 2538261 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU D, 6.750%, (TSFR1M + 2.600%), 12/15/2039 | 2508953 | 0.1 |
| 19646979 <sup>(1)(3)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K109 X1, 1.685%, 04/25/2030 | 1142065 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 2417435 <sup>(1)(3)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 1.093%, 08/25/2036 | $179938 | 0 |
| 2000000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2024-FL9 A, 5.764%, (TSFR1M + 1.631%), 10/19/2039 | 2012730 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.519%, (TSFR1M + 1.385%), 08/19/2042 | 5008887 | 0.2 |
| 3700000 <sup>(1)(2)</sup> | FS Trust 2024-HULA A, 5.961%, (TSFR1M + 1.811%), 08/15/2039 | 3711484 | 0.2 |
| 4690000 <sup>(2)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.958%, 11/27/2050 | 4331414 | 0.2 |
| 2676000 <sup>(2)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 2190091 | 0.1 |
| 46216 <sup>(2)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 45547 | 0 |
| 1849000 <sup>(2)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 1774549 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Great Wolf Trust 2024-WOLF D, 7.040%, (TSFR1M + 2.890%), 03/15/2039 | 2517676 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | Greystone CRE Notes LLC 2025-FL4 A, 5.631%, (TSFR1M + 1.481%), 01/15/2043 | 2512143 | 0.1 |
| 500000 <sup>(1)</sup> | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | 464580 | 0 |
| 13044534 <sup>(1)(3)</sup> | GS Mortgage Securities Trust 2019-GC38 XA, 1.169%, 02/10/2052 | 352814 | 0 |
| 32329582 <sup>(1)(3)</sup> | GS Mortgage Securities Trust 2019-GC40 XA, 1.256%, 07/10/2052 | 1069443 | 0.1 |
| 660000 | GS Mortgage Securities Trust 2019-GSA1 B, 3.511%, 11/10/2052 | 613878 | 0 |
| 80316181 <sup>(1)(3)</sup> | GS Mortgage Securities Trust 2019-GSA1 XA, 0.927%, 11/10/2052 | 2090698 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | GSMS Trustair 2024-FAIR A, 6.072%, 07/15/2029 | 5161115 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | HLTN Commercial Mortgage Trust 2024-DPLO A, 5.792%, (TSFR1M + 1.642%), 06/15/2041 | 1002904 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 5300000 <sup>(1)(2)</sup> | HTL Commercial Mortgage Trust 2024-T53 A, 6.071%, 05/10/2039 | $5378438 | 0.3 |
| 4000000 <sup>(1)(2)</sup> | INTOWN Mortgage Trust 2025-STAY D, 7.000%, (TSFR1M + 2.850%), 03/15/2042 | 4005622 | 0.2 |
| 3250000 <sup>(1)(2)</sup> | IP Mortgage Trust 2025-IP A, 5.425%, 06/10/2042 | 3311632 | 0.2 |
| 5000000 <sup>(1)(2)</sup> | IRV Trust 2025-200P B, 5.621%, 03/14/2047 | 5049487 | 0.2 |
| 4050000 <sup>(1)(2)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-MFP E, 6.358%, (TSFR1M + 2.207%), 07/15/2036 | 3155310 | 0.2 |
| 750000 | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 AS, 3.144%, 08/15/2049 | 722890 | 0 |
| 2000000 <sup>(1)(2)</sup> | KIND Commercial Mortgage Trust 2024-1A, 6.040%, (TSFR1M + 1.890%), 08/15/2041 | 2005728 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | KSL Commercial Mortgage Trust 2024-HT2 B, 6.192%, (TSFR1M + 2.042%), 12/15/2039 | 5011039 | 0.2 |
| 2000000 <sup>(1)(2)</sup> | LBA Trust 2024-BOLT A, 5.741%, (TSFR1M + 1.591%), 06/15/2039 | 2005118 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Life Mortgage Trust 2022-BMR2 A1, 5.445%, (TSFR1M + 1.295%), 05/15/2039 | 1947234 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.528%, (TSFR1M + 1.385%), 08/17/2042 | 2006633 | 0.1 |
| 9164328 <sup>(1)(2)(3)</sup> | LSTAR Commercial Mortgage Trust 2017-5X, 1.004%, 03/10/2050 | 58593 | 0 |
| 1224652 <sup>(1)(2)</sup> | MCR Mortgage Trust 2024-HTL D, 8.056%, (TSFR1M + 3.905%), 02/15/2037 | 1229562 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | MED Commercial Mortgage Trust 2024-MOB A, 5.742%, (TSFR1M + 1.592%), 05/15/2041 | 998899 | 0.1 |
| 4000000 <sup>(1)(2)</sup> | MF1 LLC 2024-FL14 A, 5.871%, (TSFR1M + 1.737%), 03/19/2039 | 4018748 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 3000000 <sup>(1)(2)</sup> | MF1 LLC 2025-FL17 A, 5.456%, (TSFR1M + 1.320%), 02/18/2040 | $3007122 | 0.1 |
| 4250000 <sup>(1)(2)</sup> | MF1 LLC 2025-FL20 A, 5.586%, (TSFR1M + 1.450%), 02/18/2043 | 4269921 | 0.2 |
| 2560000 <sup>(1)(2)</sup> | MHP 2022-MHIL E, 6.761%, (TSFR1M + 2.611%), 01/15/2039 | 2562016 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | MHP Commercial Mortgage Trust 2025-MHIL2 C, 6.200%, (TSFR1M + 2.050%), 09/15/2040 | 1001552 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | MHP Commercial Mortgage Trust 2025-MHIL2 D, 6.800%, (TSFR1M + 2.650%), 09/15/2040 | 1502860 | 0.1 |
| 2000000 <sup>(1)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 C, 4.620%, 12/15/2047 | 1937127 | 0.1 |
| 14106689 <sup>(1)(3)</sup> | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 XA, 0.902%, 11/15/2052 | 155016 | 0.0 |
| 30212255 <sup>(1)(3)</sup> | Morgan Stanley Capital I 2017-HR2 XA, 0.990%, 12/15/2050 | 453424 | 0.0 |
| 25660000 <sup>(1)(2)(3)</sup> | Morgan Stanley Capital I Trust 2018-L1 XD, 1.938%, 10/15/2051 | 1235582 | 0.1 |
| 20725931 <sup>(1)(3)</sup> | Morgan Stanley Capital I Trust 2021-L6 XA, 1.256%, 06/15/2054 | 784050 | 0.0 |
| 1650000 <sup>(1)(2)</sup> | MTN Commercial Mortgage Trust 2022-LPFL A, 5.557%, (TSFR1M + 1.397%), 03/15/2039 | 1650298 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | NXPT Commercial Mortgage Trust 2024-STOR B, 4.803%, 11/05/2041 | 2983250 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | NYC Commercial Mortgage Trust 2025-3BP A, 5.363%, (TSFR1M + 1.213%), 02/15/2042 | 2993813 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | NYC Commercial Mortgage Trust 2025-3BP C, 6.042%, (TSFR1M + 1.892%), 02/15/2042 | 3001336 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | ORL Trust 2024-GLKS C, 6.442%, (TSFR1M + 2.291%), 12/15/2039 | 5015124 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 2000000 <sup>(1)(2)</sup> | PENN Commercial Mortgage Trust 2025-P11 B, 6.125%, 08/10/2042 | $2039047 | 0.1 |
| 1355864 <sup>(1)(2)</sup> | PFP Ltd. 2024-11 A, 6.050%, (TSFR1M + 1.832%), 09/17/2039 | 1358944 | 0.1 |
| 13000000 <sup>(2)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 12298926 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | PRM Trust 2025-PRM6 A, 4.630%, 07/05/2033 | 997364 | 0.0 |
| 1000000 <sup>(1)(2)</sup> | PRM Trust 2025-PRM6 C, 5.175%, 07/05/2033 | 998298 | 0.0 |
| 2000000 <sup>(1)(2)</sup> | PRM Trust 2025-PRM6 D, 5.867%, 07/05/2033 | 1999475 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | RFM Reremic Trust 2022-FRR1 AB60, 2.337%, 11/08/2049 | 4803962 | 0.2 |
| 8030000 <sup>(1)(2)</sup> | RFM Reremic Trust 2022-FRR1 AB64, 2.189%, 03/01/2050 | 7588399 | 0.4 |
| 2750000 <sup>(2)(4)</sup> | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 2475567 | 0.1 |
| 2700000 <sup>(1)(2)</sup> | SCG Trust 2025-SNIP A, 5.750%, (TSFR1M + 1.500%), 09/15/2030 | 2711817 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | SHR Trust 2024-LXRY A, 6.100%, (TSFR1M + 1.950%), 10/15/2041 | 2507450 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | SMRT 2022-MINI E, 6.851%, (TSFR1M + 2.700%), 01/15/2039 | 2976751 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | SWCH Commercial Mortgage Trust 2025-DATA B, 5.993%, (TSFR1M + 1.842%), 02/15/2042 | 2493777 | 0.1 |
| 2500000 <sup>(1)(2)</sup> | SWCH Commercial Mortgage Trust 2025-DATA C, 6.242%, (TSFR1M + 2.092%), 02/15/2042 | 2494315 | 0.1 |
| 4418311 <sup>(2)</sup> | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 4488630 | 0.2 |
| 21245646 <sup>(1)(3)</sup> | UBS Commercial Mortgage Trust 2019- C16 XA, 1.684%, 04/15/2052 | 809617 | 0.0 |
| 3000000 <sup>(2)</sup> | VTR Commercial Mortgage Trust 2025- STEM A, 5.201%, 10/13/2041 | 3001986 | 0.1 |
| 2220000 | Wells Fargo Commercial Mortgage Trust 2016-C37 A5, 3.794%, 12/15/2049 | 2204055 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(1)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | $| 952963 | 0.0 |
| 2588000 | Wells Fargo Commercial Mortgage Trust 2019-C49 B, 4.546%, 03/15/2052 |  | 2526370 | 0.1 |
| 2500000 <sup>(2)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C59 E, 2.500%, 04/15/2054 |  | 1679507 | 0.1 |
| 18765931 <sup>(1)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C59 XA, 1.620%, 04/15/2054 |  | 1072880 | 0.1 |
| 2000000 <sup>(1)</sup> | Wells Fargo Commercial Mortgage Trust 2025-5C4 B, 6.394%, 05/15/2058 |  | 2092281 | 0.1 |
| 2000000 <sup>(1)</sup> | Wells Fargo Commercial Mortgage Trust 2025-5C5 C, 6.014%, 07/15/2058 |  | 2022834 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP A, 5.500%, (TSFR1M + 1.350%), 08/15/2042 |  | 5007275 | 0.2 |
| 2500000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT C, 6.029%, 03/15/2038 |  | 2511602 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | WHARF Commercial Mortgage Trust 2025-DC A, 5.528%, 07/15/2040 |  | 5133715 | 0.2 |
|  | Total Commercial Mortgage-Backed Securities |  |  |  |
|  | (Cost $395,659,822) |  | **398275133** | **18.6** |
| **ASSET-BACKED SECURITIES: 11.4%** | **ASSET-BACKED SECURITIES: 11.4%** |  |  |  |
|  | **Home Equity Asset-Backed Securities: 0.6%** | **Home Equity Asset-Backed Securities: 0.6%** | **Home Equity Asset-Backed Securities: 0.6%** | **Home Equity Asset-Backed Securities: 0.6%** |
| 1680043 <sup>(1)(2)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 |  | 1372604 | 0.1 |
| 2737870 <sup>(1)(2)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A3, 7.250%, 02/25/2038 |  | 2085551 | 0.1 |
| 269742 <sup>(1)</sup> | GSAA Home Equity Trust 2006-3 A3, 4.872%, (TSFR1M + 0.714%), 03/25/2036 |  | 130245 | 0.0 |
| 1736016 <sup>(1)</sup> | GSAA Home Equity Trust 2006-4 4A3, 4.114%, 03/25/2036 |  | 1040558 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Home Equity Asset-Backed Securities: (continued)** | **Home Equity Asset-Backed Securities: (continued)** | **Home Equity Asset-Backed Securities: (continued)** | **Home Equity Asset-Backed Securities: (continued)** |
| 777799 <sup>(1)</sup> | GSAA Home Equity Trust 2007-1 1A1, 4.432%, (TSFR1M + 0.274%), 02/25/2037 | $| 217277 | 0.0 |
| 760845 <sup>(1)</sup> | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 |  | 270029 | 0.0 |
| 665180 <sup>(1)</sup> | Morgan Stanley Mortgage Loan Trust 2007-10XS A2, 6.250%, 02/25/2037 |  | 368181 | 0.0 |
| 291494 <sup>(1)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 4.732%, (TSFR1M + 0.574%), 02/25/2037 |  | 264590 | 0.0 |
| 2529969 <sup>(1)</sup> | Renaissance Home Equity Loan Trust 2004-4 MF2, 5.818%, 02/25/2035 |  | 2260529 | 0.1 |
| 921986 <sup>(2)</sup> | Unlock HEA Trust 2024-2 A, 6.500%, 10/25/2039 |  | 921001 | 0.1 |
| 2989609 <sup>(2)</sup> | Unlock HEA Trust 2025-1 A, 6.750%, 07/25/2041 |  | 2999694 | 0.1 |
|  |  |  | **11930259** | **0.6** |
|  | **Other Asset-Backed Securities: 10.1%** | **Other Asset-Backed Securities: 10.1%** | **Other Asset-Backed Securities: 10.1%** | **Other Asset-Backed Securities: 10.1%** |
| 2950000 <sup>(1)(2)</sup> | AB BSL CLO 3 Ltd. 2021-3A D1R, 6.975%, (TSFR3M + 2.650%), 04/20/2038 |  | 2941067 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | AMMC CLO 25 Ltd. 2022-25A CR2, 5.953%, (TSFR3M + 1.950%), 10/15/2038 |  | 1504300 | 0.1 |
| 2700000 <sup>(1)(2)</sup> | Apidos CLO XXIV 2016-24A BRR, 6.637%, (TSFR3M + 2.312%), 10/20/2030 |  | 2705225 | 0.1 |
| 1800000 <sup>(2)</sup> | Applebee's Funding LLC / IHOP Funding LLC 2025-1A A2, 6.720%, 06/07/2055 |  | 1825442 | 0.1 |
| 164528 <sup>(2)</sup> | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 |  | 160606 | 0.0 |
| 1534839 <sup>(1)(2)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 5.615%, (TSFR1M + 1.464%), 11/15/2036 |  | 1534938 | 0.1 |
| 500000 <sup>(1)(2)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 D, 7.165%, (TSFR1M + 3.014%), 11/15/2036 |  | 500288 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 3600000 <sup>(1)(2)</sup> | Bain Capital CLO Ltd. 2024-1A C, 6.718%, (TSFR3M + 2.400%), 04/16/2037 | $3617485 | 0.2 |
| 1030000 <sup>(1)(2)</sup> | Bain Capital Credit CLO Ltd. 2017-2A CR3, 6.518%, (TSFR3M + 2.200%), 07/25/2037 | 1035276 | 0.1 |
| 3500000 <sup>(1)(2)</sup> | Ballyrock Clo 29 Ltd. 2025-29A B, 6.262%, (TSFR3M + 1.950%), 07/25/2038 | 3511221 | 0.2 |
| 7000000 <sup>(1)(2)</sup> | Benefit Street Partners CLO V-B Ltd. 2018-5BA CR, 6.475%, (TSFR3M + 2.150%), 07/20/2037 | 7028378 | 0.3 |
| 3050000 <sup>(1)(2)</sup> | Birch Grove CLO 12 Ltd. 2025-12A D2, 8.093%, (TSFR3M + 3.750%), 04/22/2038 | 3061688 | 0.1 |
| 1600000 <sup>(1)(2)</sup> | Birch Grove Clo 9 Ltd. 2024-9A C, 6.332%, (TSFR3M + 2.000%), 10/22/2037 | 1608243 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | BlueMountain CLO Ltd. 2013-2A CR, 6.544%, (TSFR3M + 2.212%), 10/22/2030 | 1000985 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | BlueMountain CLO Ltd. 2015-4A CR, 6.487%, (TSFR3M + 2.162%), 04/20/2030 | 1003600 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | BlueMountain CLO XXIX Ltd. 2020-29A CR, 6.680%, (TSFR3M + 2.362%), 07/25/2034 | 2003246 | 0.1 |
| 800000 <sup>(2)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 812134 | 0.0 |
| 750000 <sup>(1)(2)</sup> | Buttermilk Park CLO Ltd. 2018-1A CR, 6.268%, (TSFR3M + 1.950%), 10/15/2031 | 750800 | 0.0 |
| 4100000 <sup>(1)(2)</sup> | Carlyle US CLO Ltd. 2019-3A BRR, 6.925%, (TSFR3M + 2.600%), 04/20/2037 | 4123173 | 0.2 |
| 4600000 <sup>(1)(2)</sup> | CARLYLE US CLO Ltd. 2017-3A CR2, 6.325%, (TSFR3M + 2.000%), 10/21/2037 | 4619651 | 0.2 |
| 3300000 <sup>(1)(2)</sup> | CBAM Ltd. 2017-1A CR2, 6.425%, (TSFR3M + 2.100%), 01/20/2038 | 3314705 | 0.2 |
| 4300000 <sup>(1)(2)</sup> | Cedar Funding VIII Clo Ltd. 2017-8A CRR, 6.172%, (TSFR3M + 1.850%), 01/17/2038 | 4310157 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 2600000 <sup>(1)(2)</sup> | CIFC Funding Ltd. 2024-3A C, 6.525%, (TSFR3M + 2.200%), 07/21/2037 | $2613429 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | Crown City CLO V 2023-5A BR, 6.925%, (TSFR3M + 2.600%), 04/20/2037 | 5028785 | 0.2 |
| 537714 <sup>(1)</sup> | CWABS Asset-Backed Certificates Trust 2005-AB2 M1, 4.977%, (TSFR1M + 0.819%), 09/25/2035 | 529357 | 0.0 |
| 3000000 <sup>(1)(2)</sup> | Dewolf Park CLO Ltd. 2017-1A DR, 7.429%, (TSFR3M + 3.112%), 10/15/2030 | 3010206 | 0.1 |
| 2750000 <sup>(1)(2)</sup> | Dryden 30 Senior Loan Fund 2013-30A DR, 7.073%, (TSFR3M + 2.862%), 11/15/2028 | 2756270 | 0.1 |
| 1750000 <sup>(1)(2)</sup> | Dryden 55 CLO Ltd. 2018-55A C, 6.479%, (TSFR3M + 2.162%), 04/15/2031 | 1753874 | 0.1 |
| 5000000 <sup>(1)(2)</sup> | Dryden 75 CLO Ltd. 2019-75A CR2, 6.379%, (TSFR3M + 2.062%), 04/15/2034 | 5005205 | 0.2 |
| 2100000 <sup>(1)(2)</sup> | Flatiron CLO 23 LLC 2023-1A CR, 6.122%, (TSFR3M + 1.800%), 04/17/2036 | 2106378 | 0.1 |
| 1243264 <sup>(1)(2)</sup> | FS Rialto 2021-FL3 A, 5.511%, (TSFR1M + 1.364%), 11/16/2036 | 1243438 | 0.1 |
| 3570000 <sup>(1)(2)</sup> | Invesco CLO Ltd. 2021-3A BR, 5.653%, (TSFR3M + 1.500%), 10/22/2034 | 3575266 | 0.2 |
| 5650000 <sup>(1)(2)</sup> | Invesco US CLO Ltd. 2023-1A CR, 6.732%, (TSFR3M + 2.400%), 04/22/2037 | 5676549 | 0.3 |
| 785401 <sup>(2)</sup> | JG Wentworth XLII LLC 2018-2A B, 4.700%, 10/15/2077 | 716386 | 0.0 |
| 1350000 <sup>(1)(2)</sup> | LCM XVIII L.P. 18A CR, 6.437%, (TSFR3M + 2.112%), 04/20/2031 | 1351633 | 0.1 |
| 2800000 <sup>(1)(2)</sup> | LCM XXIV Ltd. 24A CR, 6.487%, (TSFR3M + 2.162%), 03/20/2030 | 2806782 | 0.1 |
| 710914 <sup>(2)</sup> | LCSS Financing LLC 2018-A A, 4.700%, 12/15/2062 | 630917 | 0.0 |
| 4000000 <sup>(1)(2)</sup> | Magnetite XLVII Ltd. 2024-47A C, 6.168%, (TSFR3M + 1.850%), 01/25/2038 | 4011864 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 7000000 <sup>(1)(2)</sup> | MF1 Ltd. 2021-FL6 D, 6.800%, (TSFR1M + 2.664%), 07/16/2036 | $6852658 | 0.3 |
| 3000000 <sup>(1)(2)</sup> | MF1 Ltd. 2021-FL7 AS, 5.700%, (TSFR1M + 1.564%), 10/16/2036 | 3001240 | 0.1 |
| 1168619 <sup>(2)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 1054953 | 0.1 |
| 347074 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 326511 | 0.0 |
| 1575898 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-2GS A, 4.200%, 02/22/2044 | 1477207 | 0.1 |
| 443654 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 403143 | 0.0 |
| 772130 <sup>(2)</sup> | Mosaic Solar Loan Trust 2019-1A A, 4.370%, 12/21/2043 | 729145 | 0.0 |
| 378258 <sup>(2)</sup> | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 335620 | 0.0 |
| 1140978 <sup>(2)</sup> | Mosaic Solar Loan Trust 2021-2A B, 2.090%, 04/22/2047 | 851435 | 0.0 |
| 5301786 <sup>(2)</sup> | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | 5175637 | 0.2 |
| 824747 <sup>(2)</sup> | Mosaic Solar Loan Trust 2025-1A A, 6.120%, 08/22/2050 | 818890 | 0.0 |
| 595474 <sup>(2)</sup> | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | 561260 | 0.0 |
| 3600000 <sup>(1)(2)</sup> | Neuberger Berman CLO XX Ltd. 2015-20A D2R3, 8.018%, (TSFR3M + 3.700%), 04/15/2039 | 3607297 | 0.2 |
| 2625000 <sup>(1)(2)</sup> | Neuberger Berman Loan Advisers CLO 24 Ltd. 2017-24A CR2, 6.425%, (TSFR3M + 2.100%), 10/19/2038 | 2641847 | 0.1 |
| 2300000 <sup>(1)(2)</sup> | Neuberger Berman Loan Advisers CLO 33 Ltd. 2019-33A CR2, 6.318%, (TSFR3M + 2.000%), 04/16/2039 | 2312438 | 0.1 |
| 4750000 <sup>(1)(2)</sup> | Neuberger Berman Loan Advisers Clo 44 Ltd. 2021-44A CR, 6.018%, (TSFR3M + 1.700%), 10/16/2035 | 4758621 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | NYACK Park CLO Ltd. 2021-1A CR, 5.768%, (TSFR3M + 1.850%), 10/20/2038 | 1002500 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 2150000 <sup>(1)(2)</sup> | Oaktree CLO Ltd. 2024-25A C, 6.825%, (TSFR3M + 2.500%), 04/20/2037 | $2161363 | 0.1 |
| 3500000 <sup>(1)(2)</sup> | OCP CLO Ltd. 2020-8RA CR, 6.222%, (TSFR3M + 1.900%), 10/17/2036 | 3500175 | 0.2 |
| 3880000 <sup>(1)(2)</sup> | OCP CLO Ltd. 2020-8RA CR2, (TSFR3M + 1.800%), 10/17/2038 | 3889700 | 0.2 |
| 2500000 <sup>(1)(2)</sup> | Octagon 64 Ltd. 2022-1A CR, 6.275%, (TSFR3M + 1.950%), 07/21/2037 | 2503013 | 0.1 |
| 3000000 <sup>(1)(2)</sup> | Octagon 75 Ltd. 2025-1A D1, 6.932%, (TSFR3M + 2.600%), 01/22/2038 | 3028632 | 0.1 |
| 7000000 <sup>(1)(2)</sup> | Octagon Investment Partners 32 Ltd. 2017-1A CR3, 6.368%, (TSFR3M + 2.050%), 10/31/2037 | 7037828 | 0.3 |
| 8125000 <sup>(1)(2)</sup> | Octagon Investment Partners 43 Ltd. 2019-1A CR, 6.768%, (TSFR3M + 2.450%), 10/25/2032 | 8141786 | 0.4 |
| 1500000 <sup>(1)(2)</sup> | OHA Credit Funding 9 Ltd. 2021-9A CR, 6.275%, (TSFR3M + 1.950%), 10/19/2037 | 1509177 | 0.1 |
| 702623 <sup>(2)</sup> | Pagaya AI Debt Grantor Trust 2024-10 B, 5.750%, 06/15/2032 | 707860 | 0.0 |
| 3150000 <sup>(1)(2)</sup> | Palmer Square Loan Funding Ltd. 2025-1A D, 8.311%, (TSFR3M + 4.100%), 02/15/2033 | 3160455 | 0.2 |
| 3000000 <sup>(1)(2)</sup> | Peebles Park CLO Ltd. 2024-1A C, 6.725%, (TSFR3M + 2.400%), 04/21/2037 | 3016863 | 0.1 |
| 1600000 <sup>(1)(2)</sup> | Rad CLO 10 Ltd. 2021-10A C, 6.331%, (TSFR3M + 2.012%), 04/23/2034 | 1602739 | 0.1 |
| 1100000 <sup>(1)(2)</sup> | Recette Clo Ltd. 2015-1A CRR, 6.337%, (TSFR3M + 2.012%), 04/20/2034 | 1101322 | 0.1 |
| 6627725 <sup>(2)</sup> | Sabal Issuer 2025 1 LLC 2025-1A A, 6.280%, 11/01/2060 | 6794916 | 0.3 |
| 2216250 <sup>(2)</sup> | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 2293554 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 3270000 <sup>(1)(2)</sup> | Shackleton CLO Ltd. 2019-15A CR, 6.729%, (TSFR3M + 2.412%), 01/15/2032 | $| 3274444 | 0.2 |
| 1850875 <sup>(2)</sup> | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 |  | 1825389 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | Sound Point CLO VII-R Ltd. 2014-3RA C, 6.831%, (TSFR3M + 2.512%), 10/23/2031 |  | 1001423 | 0.1 |
| 4118875 <sup>(2)</sup> | Subway Funding LLC 2024-3A A2II, 5.566%, 07/30/2054 |  | 4141352 | 0.2 |
| 759623 <sup>(2)</sup> | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 |  | 730679 | 0.0 |
| 2700552 <sup>(2)</sup> | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 |  | 2440942 | 0.1 |
| 1556041 <sup>(2)</sup> | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 |  | 1510335 | 0.1 |
| 3144176 <sup>(2)</sup> | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 |  | 3010127 | 0.1 |
| 5274112 <sup>(2)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 |  | 5067049 | 0.2 |
| 6800000 <sup>(2)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 |  | 6922937 | 0.3 |
| 1500000 <sup>(1)(2)</sup> | Upland CLO Ltd. 2016-1A BR, 6.437%, (TSFR3M + 2.112%), 04/20/2031 |  | 1502446 | 0.1 |
| 2000000 <sup>(1)(2)</sup> | Wind River CLO Ltd. 2014-1A CRR, 6.541%, (TSFR3M + 2.212%), 07/18/2031 |  | 2001506 | 0.1 |
| 1700000 <sup>(1)(2)</sup> | Wind River CLO Ltd. 2021-2A BR, 5.612%, (TSFR3M + 1.600%), 07/20/2034 |  | 1702603 | 0.1 |
|  |  |  | **217279964** | **10.1** |
|  | **Student Loan Asset-Backed Securities: 0.7%** | **Student Loan Asset-Backed Securities: 0.7%** | **Student Loan Asset-Backed Securities: 0.7%** | **Student Loan Asset-Backed Securities: 0.7%** |
| 63570 <sup>(2)</sup> | Commonbond Student Loan Trust-GS 2018-CGS C, 4.350%, 02/25/2046 |  | 54818 | 0.0 |
| 434092 <sup>(1)(2)</sup> | ELFI Graduate Loan Program LLC 2019-A B, 2.940%, 03/25/2044 |  | 372647 | 0.0 |
| 411705 <sup>(2)</sup> | Laurel Road Prime Student Loan Trust 2018-B BFX, 3.720%, 05/26/2043 |  | 409577 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** | **Student Loan Asset-Backed Securities: (continued)** |
| 4000000 <sup>(2)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | $| 3454582 | 0.2 |
| 963266 <sup>(2)</sup> | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 |  | 954225 | 0 |
| 2000000 <sup>(2)</sup> | Sofi Professional Loan Program LLC 2019-B BFX, 3.730%, 08/17/2048 |  | 1878412 | 0.1 |
| 3000000 <sup>(2)</sup> | Sofi Professional Loan Program LLC 2019-C BFX, 3.050%, 11/16/2048 |  | 2701117 | 0.1 |
| 1000000 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 |  | 967894 | 0.1 |
| 4400000 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 |  | 3653104 | 0.2 |
|  |  |  | **14446376** | **0.7** |
|  | Total Asset-Backed Securities |  |  |  |
|  | (Cost $247,029,001) |  | **243656599** | **11.4** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 7.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 7.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 7.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 7.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 7.0%** |
|  | **Government National Mortgage Association: 6.5%** | **Government National Mortgage Association: 6.5%** | **Government National Mortgage Association: 6.5%** | **Government National Mortgage Association: 6.5%** |
| 10650000 <sup>(6)</sup> | 5.000%, 10/20/2055 |  | 10595190 | 0.5 |
| 135561 | 6.000%, 02/20/2055 |  | 140278 | 0 |
| 2791274 | 6.000%, 12/20/2064 |  | 2838216 | 0.1 |
| 973750 | 6.000%, 02/20/2065 |  | 990127 | 0 |
| 1954704 | 6.000%, 05/20/2065 |  | 1987578 | 0.1 |
| 3029002 | 6.000%, 05/20/2065 |  | 3079945 | 0.1 |
| 810010 | 6.500%, 12/20/2054 |  | 846636 | 0 |
| 2256994 | 6.500%, 02/20/2055 |  | 2380602 | 0.1 |
| 4026867 | 6.500%, 02/20/2055 |  | 4250077 | 0.2 |
| 21293807 | 6.500%, 02/20/2055 |  | 22633125 | 1.1 |
| 1347160 | 6.500%, 03/20/2055 |  | 1421975 | 0.1 |
| 1735258 | 6.500%, 03/20/2055 |  | 1831627 | 0.1 |
| 882101 | 6.500%, 04/20/2055 |  | 916958 | 0 |
| 1155451 | 6.500%, 04/20/2055 |  | 1216060 | 0.1 |
| 1715170 | 6.500%, 04/20/2055 |  | 1800382 | 0.1 |
| 5155430 | 6.500%, 08/20/2055 |  | 5524342 | 0.3 |
| 1033269 | 6.500%, 09/20/2055 |  | 1079196 | 0.1 |
| 38148295 | 6.500%, 09/20/2055 |  | 40572770 | 1.9 |
| 135138 | 6.500%, 10/20/2064 |  | 138776 | 0 |
| 172602 | 6.500%, 03/20/2065 |  | 177249 | 0 |
| 303565 | 6.500%, 03/20/2065 |  | 311739 | 0 |
| 417576 | 6.500%, 04/20/2065 |  | 428819 | 0 |
| 4202185 | 6.500%, 04/20/2065 |  | 4315332 | 0.2 |
| 93323 | 6.500%, 05/20/2065 |  | 95836 | 0 |
| 978761 | 6.500%, 05/20/2065 |  | 1005115 | 0 |
| 1640565 | 6.500%, 05/20/2065 |  | 1684737 | 0.1 |
| 21249347 | 6.500%, 05/20/2065 |  | 21821501 | 1 |
| 1409847 | 6.500%, 06/20/2065 |  | 1447808 | 0.1 |
| 1820873 | 6.500%, 06/20/2065 |  | 1869901 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)** |  |
|  | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** | **Government National Mortgage Association (continued)** |
| 2403177 | 6.500%, 07/20/2065 | $| 2467885 | 0.1 |
|  |  |  | **139869782** | **6.5** |
|  | **Uniform Mortgage-Backed Securities: 0.5%** | **Uniform Mortgage-Backed Securities: 0.5%** | **Uniform Mortgage-Backed Securities: 0.5%** | **Uniform Mortgage-Backed Securities: 0.5%** |
| 10166000 <sup>(6)</sup> | 4.500%, 10/01/2055 |  | 9861958 | 0.5 |
| 2299 | 5.500%, 10/01/2039 |  | 2382 | 0.0 |
|  |  |  | **9864340** | **0.5** |
|  | Total U.S. Government Agency Obligations |  |  |  |
|  | (Cost $148,762,180) |  | **149734122** | **7.0** |
| **BANK LOANS: 6.7%** | **BANK LOANS: 6.7%** |  |  |  |
|  | **Auto Components: 0.1%** |  |  |  |
| 283503 | American Axle & Manufacturing Inc., New Tranche B Term Loan, 7.175%, (TSFR1M+3.000%), 12/12/2029 |  | 283680 | 0.0 |
| 503419 | Holley Purchaser, Inc., Initial Term Loan, 8.028%, (TSFR1M+3.750%), 11/17/2028 |  | 498385 | 0.1 |
| 394752 | RC Buyer Inc., First Lien Initial Term Loan, 7.778%, (TSFR1M+3.614%), 07/28/2028 |  | 393025 | 0.0 |
| 292191 | RealTruck Goup Inc (fka Truck Hero), Initial Term Loan, 8.028%, (TSFR1M+3.610%), 01/31/2028 |  | 265893 | 0.0 |
|  |  |  | **1440983** | **0.1** |
|  | **Basic Materials: 0.1%** |  |  |  |
| 253088 | A-Ap Buyer, Inc., Initial Term Loan, 6.752%, (TSFR3M+2.750%), 09/09/2031 |  | 254511 | 0.0 |
| 583538 | Covia Holdings Corporation, 2025 Refinancing Term Loan, 6.948%, (TSFR3M+2.750%), 02/26/2032 |  | 586455 | 0.1 |
| 126761 | Ineos Finance PLC, 2030 Dollar Term Loans, 7.413%, (TSFR1M+3.250%), 02/18/2030 |  | 115987 | 0.0 |
| 488750 | Ineos US Petrochem LLC, 2030 Tranche B Dollar Term Loan, 8.013%, (TSFR1M+3.850%), 03/14/2030 |  | 436057 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Basic Materials: (continued)** |  |  |  |
| 148876 | Paint Intermediate III LLC, Paint Intermediate/ Wesco Group Cov-Lite Tlb, 7.242%, (TSFR3M+3.000%), 10/09/2031 | $| 148783 | 0.0 |
| 495000 <sup>(7)</sup> | Qnity Electronics, Inc., Term Loan B, 08/12/2032 |  | 495619 | 0.0 |
| 305000 <sup>(7)</sup> | Solstice Advanced Materials Inc., 2025 1st Lien TLB, 09/16/2032 |  | 306144 | 0.0 |
| 418378 | Sparta US HoldCo LLC, Initial Term Loan, 7.280%, (TSFR1M+3.000%), 08/02/2030 |  | 413409 | 0.0 |
| 41647 <sup>(7)(8)</sup> | USALCO LLC, 2025 Delayed Draw Term Loan, 09/30/2031 |  | 41621 | 0.0 |
| 401192 | USALCO LLC, 2025 Initial Term Loan, 7.666%, (TSFR1M+3.500%), 09/30/2031 |  | 400941 | 0.0 |
|  |  |  | **3199527** | **0.1** |
|  | **Building & Development: 0.0%** | **Building & Development: 0.0%** | **Building & Development: 0.0%** | **Building & Development: 0.0%** |
| 464711 | Cornerstone Building Brands Inc., New Term Loan B, 7.500%, (TSFR1M+3.350%), 04/12/2028 |  | 440701 | 0.0 |
| 144625 | Standard Industries INC, Initial Term Loan, 6.071%, (TSFR1M+2.250%), 09/22/2028 |  | 145048 | 0.0 |
|  |  |  | **585749** | **0.0** |
|  | **Business Equipment & Services: 0.1%** | **Business Equipment & Services: 0.1%** | **Business Equipment & Services: 0.1%** |  |
| 612725 | Ensono LP, First Lien Initial Term Loan, 8.430%, (TSFR1M+4.114%), 05/26/2028 |  | 614385 | 0.1 |
| 497813 | Open Text Corporation, 2024-A Replacement Term Loan, 5.913%, (TSFR1M+1.750%), 01/31/2030 |  | 497877 | 0.0 |
|  |  |  | **1112262** | **0.1** |
|  | **Chemicals & Plastics: 0.0%** |  |  |  |
| 468312 | Herens Holdco Sarl, Facility B USD Loans, 8.027%, (TSFR3M+4.025%), 07/03/2028 |  | 423354 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Chemicals & Plastics: (continued)** | **Chemicals & Plastics: (continued)** | **Chemicals & Plastics: (continued)** |
| 185679 | Ineos US Finance LLC, 2028 Dollar Term Loan, 6.763%, (TSFR1M+2.600%), 11/08/2028 | $175002 | 0.0 |
|  |  | **598356** | **0.0** |
|  | **Commodities: 0.0%** |  |  |
| 152507 | Foundation Building Materials Inc., Initial Term Loan (First Lien), 7.820%, (TSFR3M+3.351%), 01/31/2028 | 152813 | 0.0 |
|  | **Communications: 0.4%** |  |  |
| 153683 | Acuris Finance US Inc., 2024 Dollar Term Loan, 7.752%, (TSFR3M+3.750%), 02/16/2028 | 153923 | 0.0 |
| 350000 | AP Core Holdings II LLC, Term B-2 Loans, 9.778%, (TSFR1M+5.610%), 09/01/2027 | 340944 | 0.0 |
| 600323 | Arches Buyer Inc., Refinancing Term Loan, 7.513%, (TSFR1M+3.350%), 12/06/2027 | 601824 | 0.1 |
| 484367 | Cablevision Lightpath LLC, 2025 Refinancing Term Loan, 7.150%, (TSFR1M+3.000%), 11/30/2027 | 485578 | 0.0 |
| 575576 | Cengage Learning Inc., 2024 Refinancing Term Loans, 7.666%, (TSFR1M+3.500%), 03/22/2031 | 574856 | 0.1 |
| 579726 | Charter Communications Operating LLC, Term Loan B5, 6.541%, (TSFR3M+2.250%), 12/15/2031 | 580178 | 0.1 |
| 248117 | CMG Media Corporation (f/k/a Terrier Media Buyer Inc), Term Facility, 7.602%, (TSFR3M+3.600%), 06/18/2029 | 237933 | 0.0 |
| 492525 | CNT Holdings I Corp, 2025 Replacement Term Loans, 6.558%, (TSFR3M+2.250%), 11/08/2032 | 492814 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 134395 | Connect US Finco LLC, Amendment No. 4 Term Loan, 8.663%, (TSFR1M+4.500%), 09/27/2029 | $132939 | 0.0 |
| 292050 | Crown Subsea Communications Holding Inc., 2025 Term Loan, 7.663%, (TSFR1M+3.500%), 01/30/2031 | 294286 | 0.0 |
| 371522 | Dotdash Meredith, Inc., Term B-2 Loan, 7.780%, (TSFR1M+3.500%), 06/17/2032 | 371522 | 0.0 |
| 346413 | Gogo Intermediate Holdings LLC, Initial Term Loan, 8.180%, (TSFR1M+3.865%), 04/30/2028 | 344393 | 0.0 |
| 272938 | GoodRX Inc., 2024 Term Loan, 7.913%, (TSFR1M+3.750%), 07/10/2029 | 275155 | 0.0 |
| 386030 | Ion Trading Finance Limited, 2024-B Dollar Term Loan, 7.502%, (TSFR3M+3.500%), 04/01/2028 | 385996 | 0.0 |
| 712 | Lumen Technologies, Inc., Term B-1 Loan, 6.780%, (TSFR1M+2.460%), 04/15/2029 | 708 | 0.0 |
| 712 | Lumen Technologies, Inc., Term B-2 Loan, 6.780%, (TSFR1M+2.460%), 04/15/2030 | 708 | 0.0 |
| 312108 | Magnite Inc., Amendment 2 Initial Term Loan, 7.163%, (TSFR1M+3.000%), 02/06/2031 | 313084 | 0.0 |
| 347769 | McGraw-Hill Education Inc., Term Loan B (2025), 6.913%, (TSFR1M+2.750%), 08/06/2031 | 348247 | 0.0 |
| 499564 | MH Sub I LLC, 2023 May New Term Loans, 8.252%, (TSFR3M+4.250%), 05/03/2028 | 481923 | 0.0 |
| 628792 | Proofpoint Inc., 2024 Refinancing Term Loan, 7.163%, (TSFR1M+3.000%), 08/31/2028 | 631396 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Communications: (continued)** |  |  |
| 146989 | SInc.lair Television Group Inc., Term B-7 Loans, 8.363%, (TSFR1M+4.200%), 12/31/2030 | $134127 | 0.0 |
| 511192 | TripAdvisor Inc., Initial Term B Loan, 6.913%, (TSFR1M+2.750%), 07/08/2031 | 502885 | 0.0 |
|  |  | **7685419** | **0.4** |
|  | **Consumer, Cyclical: 1.2%** |  |  |
| 491250 | 84 Lumber Company, 2023 Term B-1 Loan, 6.413%, (TSFR1M+2.250%), 11/29/2030 | 493246 | 0.0 |
| 650350 | ABG Intermediate Holdings 2 LLC, 2024-1 Refinancing Term Loan, 6.413%, (TSFR1M+2.250%), 12/21/2028 | 650485 | 0.1 |
| 451596 | AI Aqua Merger Sub Inc FKA Osmosis Buyer Limited, 2025 Refinancing Term B, 7.280%, (TSFR1M+3.000%), 07/31/2028 | 453088 | 0.0 |
| 533045 | Alterra Mountain Company, Facility B9 Term Loan, 6.663%, (TSFR1M+2.500%), 08/17/2028 | 535044 | 0.0 |
| 66744 | American Airlines Inc., Repriced Term Loan, 6.575%, (TSFR3M+2.250%), 04/20/2028 | 66727 | 0.0 |
| 110000 <sup>(7)</sup> | American Axle & Manufacturing Inc., Tranche C Term Loan, 09/20/2032 | 109450 | 0.0 |
| 451078 | American Greetings Corporation, Tranche C Term Loan, 9.913%, (TSFR1M+5.750%), 10/30/2029 | 452882 | 0.0 |
| 283769 | Aramark Services Inc., Us Term B-8 Loan, 6.163%, (TSFR1M+2.000%), 06/22/2030 | 284833 | 0.0 |
| 422638 | Autokiniton US Holdings Inc., 2024 Replacement Term B Loan, 8.430%, (TSFR1M+4.110%), 04/06/2028 | 418764 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 355000 | Bowlero/Lucky Strike Entertainment/Bowlmor/ Kingpin, 2025 1st Lien TLB, 7.385%, (TSFR1M+3.250%), 09/22/2032 | $351006 | 0.0 |
| 79598 | Burlington Coat Factory Warehouse Corp, Tlb, 5.913%, (TSFR1M+1.750%), 09/24/2031 | 79797 | 0.0 |
| 587070 | Caesars Entertainment, Inc., Incremental Term B-1 Loan, 6.413%, (TSFR1M+2.250%), 02/06/2031 | 586556 | 0.0 |
| 759674 | Cinemark USA Inc., Term Loan, 6.252%, (TSFR3M+2.250%), 05/24/2030 | 761098 | 0.1 |
| 295494 | City Football Group Limited, Tl, 7.778%, (TSFR1M+3.615%), 07/21/2030 | 295864 | 0.0 |
| 820726 | Clarios Global LP, 2024 Term Loan B, 6.816%, (TSFR1M+2.500%), 05/06/2030 | 821409 | 0.1 |
| 110000 | Clarios Global LP, Amendment No 6 Dollar Term Loan, 6.913%, (TSFR1M+2.750%), 01/28/2032 | 109931 | 0.0 |
| 431751 | Core & Main LP, Tranche D Term Loan, 6.166%, (TSFR1M+2.000%), 07/27/2028 | 432965 | 0.0 |
| 640171 | Crown Finance US Inc., Term Loan B, 8.780%, (TSFR1M+4.500%), 12/02/2031 | 639771 | 0.1 |
| 438285 | Dealer Tire LLC, Term Loan B5, 7.316%, (TSFR1M+3.000%), 07/02/2031 | 437737 | 0.0 |
| 148850 | Dk Crown Holdings Inc., Term B Loans, 6.005%, (TSFR1M+1.750%), 03/04/2032 | 148734 | 0.0 |
| 284288 | EOC Borrower LLC, Term B Loans, 7.163%, (TSFR1M+3.000%), 03/24/2032 | 284776 | 0.0 |
| 593797 | Flutter Entertainment Public Limited Company, 2024 Term Loan B, 5.752%, (TSFR3M+1.750%), 11/30/2030 | 592869 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 851525 | Flynn Restaurant Group LP, Series 2025 Term Loans, 7.913%, (TSFR1M+3.750%), 01/28/2032 | $854187 | 0.1 |
| 73333 | Formula One Management Limited, Incremental Term Facility, 6.291%, (TSFR3M+2.000%), 09/30/2031 | 73459 | 0.0 |
| 73333 | Formula One Management Limited, Term Loan B1, 6.296%, (TSFR3M+2.000%), 09/30/2031 | 73482 | 0.0 |
| 286259 | Foundation Building Materials Inc., 2025 Incremental Term Loan, 9.546%, (TSFR3M+5.250%), 01/29/2031 | 287026 | 0.0 |
| 109725 | Gategroup Finance, Senior Facility B (USD) Loan, 8.556%, (TSFR3M+4.250%), 06/10/2032 | 109759 | 0.0 |
| 574200 | Gates Corporation, Inital B-5 Dollar Term Loan, 5.913%, (TSFR1M+1.750%), 06/04/2031 | 574110 | 0.0 |
| 554414 | Golden State Foods LLC, Initial Term Loans, 8.002%, (TSFR3M+4.000%), 12/04/2031 | 556493 | 0.0 |
| 870014 | Great Outdoors Group LLC, Term B-3 Loan, 7.413%, (TSFR1M+3.250%), 01/23/2032 | 872324 | 0.1 |
| 233825 | Hanesbrands Inc., Term Loan B, 6.913%, (TSFR1M+2.750%), 03/07/2032 | 235286 | 0.0 |
| 571700 | Harbor Freight Tools USA Inc., Initial Term Loan, 6.413%, (TSFR1M+2.250%), 06/11/2031 | 562160 | 0.0 |
| 188575 | Highline AfterMarket Acquisition LLC, 2025-1 Term Loan, 7.699%, (TSFR3M+3.500%), 02/13/2030 | 189046 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 307675 | Hunter Douglas Holding BV, Tranche B-1 Term Loan, 7.252%, (TSFR3M+3.250%), 01/17/2032 | $307996 | 0.0 |
| 395837 | IRB Holding Corp, 2024 New Term Loan B Replacement, 6.663%, (TSFR1M+2.500%), 12/15/2027 | 396359 | 0.0 |
| 213925 | J&J Ventures Gaming LLC, 2025 Term Loans, 7.663%, (TSFR1M+3.500%), 04/26/2030 | 212120 | 0.0 |
| 312772 | Kodiak BP LLC, Initial Term Loan, 7.752%, (TSFR3M+3.750%), 12/04/2031 | 311795 | 0.0 |
| 335000 | LBM Acquisition LLC, Amendment No 4 Incremental Term loan, 9.136%, (TSFR1M+5.000%), 06/06/2031 | 334330 | 0.0 |
| 351450 | Lc Ahab Us Bidco LLC, Initial Term Loan, 7.163%, (TSFR1M+3.000%), 05/01/2031 | 351780 | 0.0 |
| 680898 | Light and Wonder International Inc., Term Loan B-2, 6.393%, (TSFR1M+2.250%), 04/14/2029 | 676643 | 0.1 |
| 673370 | LS Group OPCO Acquisition LLC, Term Loan B, 6.699%, (TSFR3M+2.500%), 04/23/2031 | 672108 | 0.1 |
| 115000 | MillerKnoll Inc. f/k/a/ Herman Miller Inc., 2025 Term B Loan, 6.566%, (TSFR1M+2.250%), 08/09/2032 | 115096 | 0.0 |
| 530993 | Olympus Water US Holding Corporation, Term B-6 Dollar Loan, 7.296%, (TSFR3M+3.000%), 06/20/2031 | 526402 | 0.0 |
| 332488 | Peer Holding III BV, Term Loan B5b, 6.796%, (TSFR3M+2.500%), |  |  |
|  | 07/01/2031 | 333267 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 343782 | Penn National Gaming Inc., Term B Facility, 6.663%, (TSFR1M+2.500%), 05/03/2029 | $344089 | 0.0 |
| 56667 | QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.), Term B Loan, 7.163%, (TSFR1M+3.000%), 04/30/2032 | 57194 | 0.0 |
| 272872 | Raising Canes Restaurants LLC, Initial Term Loan, 6.163%, (TSFR1M+2.000%), 09/18/2031 | 274151 | 0.0 |
| 78999 | RealTruck Goup Inc (fka Truck Hero), Second Amendment Incremental Term Loan, 9.278%, (TSFR1M+5.110%), 01/31/2028 | 73930 | 0.0 |
| 345210 | Restoration Hardware, Inc., 2022 Incremental Term Loan, 7.513%, (TSFR1M+3.350%), 10/20/2028 | 337766 | 0.0 |
| 259725 | Samsonite International SA, 2024 Tranche B Term Loan, 6.163%, (TSFR1M+2.000%), 06/21/2030 | 261024 | 0.0 |
| 402159 | Scientific Games Holdings LP, 2024 Refi Dollar Term Loan, 7.286%, (TSFR3M+3.000%), 04/04/2029 | 399394 | 0.0 |
| 356745 | Showtime Acquisition LLC, Initial Term Loan, 8.945%, (TSFR3M+4.750%), 08/13/2031 | 358529 | 0.0 |
| 435000 | SKECHERS U.S.A. INC. (Beach Acquisition Bidco), Tranche B-1 Term Loan, 7.308%, (TSFR3M+3.250%), 09/12/2032 | 437719 | 0.0 |
| 188575 | SRAM LLC, Initial Term Loan, 6.163%, (TSFR1M+2.000%), 02/27/2032 | 188339 | 0.0 |
| 413700 | Station Casinos LLC, Term B Facility Loans, 6.163%, (TSFR1M+2.000%), 03/14/2031 | 414249 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 149625 | Tecta America Corp, Closing Date Term Loan, 7.163%, (TSFR1M+3.000%), 02/18/2032 | $150326 | 0.0 |
| 153307 | TGP Holdings III LLC, First Lien Closing Date Term Loan, 7.513%, (TSFR1M+3.350%), 06/29/2028 | 143869 | 0.0 |
| 695000 <sup>(7)</sup> | The Boots Group, 2025 1St Lien Tlb (Usd), 08/30/2032 | 697172 | 0.1 |
| 20000 | Thor Industries Inc., Term B-3 USD, 6.413%, (TSFR1M+2.250%), 11/15/2030 | 20075 | 0.0 |
| 46552 | Tory Burch LLC, Initial Term B Loan, 7.528%, (TSFR1M+3.360%), 04/16/2028 | 46005 | 0.0 |
| 238652 | UFC Holdings LLC (Zuffa)/TKO Group, Term B-5 Loan, 6.038%, (TSFR3M+2.000%), 11/21/2031 | 239272 | 0.0 |
| 409171 | United Air Lines, Inc., Term Loan B, 6.196%, (TSFR3M+2.000%), 02/22/2031 | 411004 | 0.0 |
| 273575 | Victoria's Secret & Co, First Lien Initial Term Loan, 7.582%, (TSFR3M+3.511%), 08/02/2028 | 274943 | 0.0 |
| 592370 | Weber Stephen Products LLC, Initial Term B Loan, 7.528%, (TSFR1M+3.364%), 10/30/2027 | 592833 | 0.0 |
| 615000 <sup>(7)</sup> | Weber Stephen Products LLC, Term Loan B, 09/17/2032 | 609427 | 0.1 |
| 655167 | Whatabrands LLC, 2024-2 Refinancing Term B Loan, 6.816%, (TSFR1M+2.500%), 08/03/2028 | 656392 | 0.1 |
| 749933 | White Cap Supply Holdings LLC(f/k/a White Cap Buyer LLC), Tranche C Term Loan, 7.416%, (TSFR1M+3.250%), 10/19/2029 | 750956 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |  |
| 245217 | Windsor Holdings III LLC, 2025 Refi Term Loan B, 6.916%, (TSFR1M+2.750%), 08/01/2030 | $245217 | 0.0 |
|  |  | **25616135** | **1.2** |
|  | **Consumer, Non-cyclical: 1.2%** |  |  |
| 12514 | ADMI Corp, Amendment No 5 Term Loan, 8.028%, (TSFR1M+3.864%), 12/23/2027 | 11889 | 0.0 |
| 455000 <sup>(7)</sup> | AlixPartners LLP, Tranche B, 08/12/2032 | 452441 | 0.0 |
| 455000 <sup>(7)</sup> | Allied Universal Holdco LLC, Initial U.S. Dollar Term Loan, 08/20/2032 | 457094 | 0.0 |
| 198000 | American Airlines Inc., 2024 Replacement Term Loan, 6.258%, (TSFR6M+2.250%), 06/04/2029 | 197794 | 0.0 |
| 380000 <sup>(7)</sup> | Amneal Pharmaceuticals LLC, Amendment No.1 Term Loan, 07/30/2032 | 380000 | 0.0 |
| 485109 | Auris Luxembourg III SARL, (Usd) Term Loan B8, 7.810%, (TSFR3M+3.500%), 02/28/2029 | 484048 | 0.0 |
| 443888 | Bausch & Lomb Corporation, Third Amendment Term Loans, 8.413%, (TSFR1M+4.250%), 01/15/2031 | 444997 | 0.0 |
| 405239 | Belfor Holdings Inc., Tranche B-5 Term Loan, 6.913%, (TSFR1M+2.750%), 11/01/2030 | 406759 | 0.0 |
| 478888 | Bella Holding Company LLC, Tl, 7.163%, (TSFR1M+3.000%), 05/10/2028 | 480256 | 0.0 |
| 579161 <sup>(7)</sup> | Belron Finance 2019 LLC, Tranche B, 10/16/2031 | 582781 | 0.1 |
| 324064 <sup>(7)</sup> | BIFM US Finance LLC, 2024 Term B Loans, 05/31/2028 | 325279 | 0.0 |
| 514942 | Camelot US Acquisition I Co, Term Loan B-1, 6.913%, (TSFR1M+2.750%), 01/31/2031 | 512474 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 503625 <sup>(7)</sup> | CHG Healthcare Services Inc., Tranche B1, 09/29/2028 | $504220 | 0.0 |
| 492894 | Chobani LLC, Term Loan B First Lien, 6.663%, (TSFR1M+2.500%), 10/25/2027 | 494743 | 0.0 |
| 305365 | Cimpress PLC, 2024-2 RefinancingTranche B-1, 6.663%, (TSFR1M+2.500%), 05/17/2028 | 304602 | 0.0 |
| 173690 | Concentra Health Services, Inc., Term Loan B-1, 6.163%, (TSFR1M+2.000%), 07/26/2031 | 174775 | 0.0 |
| 792965 | Cotiviti Inc., Initial Floating Rate Term Loans, 7.030%, (TSFR1M+2.750%), 05/01/2031 | 786274 | 0.1 |
| 590300 | Creative Artists Agency, LLC, Term Loan B, 6.663%, (TSFR1M+2.500%), 10/01/2031 | 591653 | 0.1 |
| 664112 | Electron Bidco Inc., Initial Term Loan, 6.913%, (TSFR1M+2.750%), 11/01/2028 | 666009 | 0.1 |
| 419706 | Fiesta Purchaser, Inc., Second Refinancing Term Loan, 6.913%, (TSFR1M+2.750%), 02/12/2031 | 419280 | 0.0 |
| 147758 | Financiere Mendel, Addtl Term Facility 2, 6.976%, (TSFR3M+2.750%), 11/08/2030 | 148497 | 0.0 |
| 135754 | Fleet Midco I Ltd., Facility B2 Term Loan, 6.542%, (TSFR6M+2.500%), 02/21/2031 | 136093 | 0.0 |
| 255000 <sup>(7)</sup> | Froneri International Limited, Term Loan, 07/16/2032 | 253438 | 0.0 |
| 574187 <sup>(7)</sup> | Fugue Finance B.V., Tranche B, 01/09/2032 | 575443 | 0.1 |
| 368031 | Garda World Security Corporation, Twelfth Additional Term Loan, 7.174%, (TSFR1M+3.000%), 02/01/2029 | 368721 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 473629 | Global Medical Response Inc., Initial Term Loan, 7.634%, (TSFR1M+3.500%), 10/01/2032 | $474665 | 0.0 |
| 188106 | Grant Thornton Advisors LLC, 2025 Incremental Term Loan, 6.663%, (TSFR1M+2.500%), 06/02/2031 | 187009 | 0.0 |
| 355000 | Grant Thornton Advisors LLC, 2025-2 Incremental Term Loans, 6.913%, (TSFR1M+2.750%), 06/02/2031 | 352929 | 0.0 |
| 40464 <sup>(8)</sup> | Hanger Inc., Delayed Draw Term Loan, 7.663%, (TSFR1M+3.500%), 10/23/2031 | 40600 | 0.0 |
| 312933 | Hanger Inc., Initial Term Loan, 7.816%, (TSFR1M+3.500%), 10/23/2031 | 313989 | 0.0 |
| 295500 | HomeServe USA Holding Corp., Amendment No.1 Refinancing Term Loan, 6.135%, (TSFR1M+2.000%), 10/21/2030 | 295177 | 0.0 |
| 275011 | IVC Acquisition Ltd, Incremental Term Loan B12, 7.752%, (TSFR3M+3.750%), 12/12/2028 | 276444 | 0.0 |
| 500106 | Jazz Financing Lux Sarl, Tranche B-2 Dollar Facility, 6.413%, (TSFR1M+2.250%), 05/05/2028 | 501460 | 0.0 |
| 310360 <sup>(7)</sup> | Kuehg Corp., Term Loan, 06/12/2030 | 310506 | 0.0 |
| 444937 | Latham Pool Products Inc., Initial Term Loans, 8.349%, (TSFR3M+4.150%), 02/23/2029 | 444103 | 0.0 |
| 225000 <sup>(7)</sup> | Lavender Dutch Borrowerco B.V., Term Loan, 09/27/2032 | 225422 | 0.0 |
| 297006 | LifePoint Health Inc., Term Loan B2, 7.660%, (TSFR3M+3.500%), 05/16/2031 | 295998 | 0.0 |
| 1201377 <sup>(7)</sup> | Medline Borrower LP, TL B 1L, 10/23/2028 | 1202671 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 134769 | Mister Car Wash Holdings Inc., 2024 Refinancing Term Loans, 6.663%, (TSFR1M+2.500%), 03/27/2031 | $135190 | 0.0 |
| 452728 | Neon Maple Purchaser Inc., 1st amend Tranche B-1 TL, 6.913%, (TSFR1M+2.750%), 11/17/2031 | 453334 | 0.0 |
| 346830 | Neptune Bidco Us Inc., Term B Loans, 9.429%, (TSFR3M+5.100%), 04/11/2029 | 330897 | 0.0 |
| 510000 | Nourish Buyer I, Inc., Initial Term Loan, 8.829%, (TSFR3M+4.500%), 07/08/2032 | 510000 | 0.0 |
| 656618 | Pegasus Bidco Bv, 2025-1 Dollar Term Loan, 6.762%, (TSFR1M+2.750%), 07/12/2029 | 659080 | 0.1 |
| 351623 | Perrigo Investments LLC, 2024 Refinancing Term B Loan, 6.163%, (TSFR1M+2.000%), 04/20/2029 | 351403 | 0.0 |
| 591030 | Phoenix Guarantor Inc., Tranche B5 Term Loan, 6.663%, (TSFR1M+2.500%), 02/21/2031 | 592064 | 0.1 |
| 311076 | Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions), Term B1 Loan, 6.129%, (TSFR6M+2.000%), 10/13/2030 | 310798 | 0.0 |
| 190000 | Priority Holdings LLC, 2025-1 Refinancing Term Loan, 7.913%, (TSFR1M+3.750%), 07/30/2032 | 190633 | 0.0 |
| 46333 <sup>(7)(8)</sup> | Raven Acquisition Holdings, LLC, 2024 Delayed Draw Term Loan Commitment, 11/19/2031 | 46398 | 0.0 |
| 645423 | Raven Acquisition Holdings, LLC, Initial Term Loans, 7.163%, (TSFR1M+3.000%), 11/19/2031 | 646331 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 485109 | Resonetics LLC, 2025 Specified Refinancing Term Commitment, 7.064%, (TSFR3M+2.750%), 06/18/2031 | $485109 | 0.0 |
| 261150 | Ryan LLC, Initial Term Loan, 7.827%, (TSFR1M+4.500%), 11/14/2030 | 261966 | 0.0 |
| 250000 | Sazerac Company, Inc., Incremental Term B-1 Loan, 6.700%, (TSFR1M+2.500%), 07/09/2032 | 251797 | 0.0 |
| 386608 | Sigma Holdco BV, Facility B12, 8.070%, (SOFRRATE+3.910%), 01/03/2028 | 374044 | 0.0 |
| 641111 | Sotera Health Holdings LLC, 2025 Term Loan, 6.663%, (TSFR1M+2.500%), 05/30/2031 | 643515 | 0.1 |
| 428925 <sup>(7)</sup> | Southern Veterinary Partners LLC, 2025 New Term Loan, 12/04/2031 | 428489 | 0.0 |
| 457850 | Spring Education Group Inc., Initial Term Loans, 7.252%, (TSFR3M+3.250%), 10/04/2030 | 460330 | 0.0 |
| 300213 | Surgery Center Holdings Inc., 2025 Refinancing Term Loan, 6.663%, (TSFR1M+2.500%), 12/19/2030 | 300797 | 0.0 |
| 291999 | The Hertz Corporation, Initial Term B Loan, 8.070%, (TSFR3M+3.761%), 06/30/2028 | 263895 | 0.0 |
| 57238 | The Hertz Corporation, Initial Term C Loan, 8.070%, (TSFR3M+3.761%), 06/30/2028 | 51729 | 0.0 |
| 471176 | Triton Water Holdings Inc., 2025 Refinancing Term Loan, 6.546%, (TSFR3M+2.250%), 03/31/2028 | 471638 | 0.0 |
| 12113 | US Fertility Enterprises LLC, Initial Delayed Draw Term Loan, 8.808%, (TSFR3M+4.500%), 10/10/2031 | 12143 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |  |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 265817 | US Fertility Enterprises LLC, Term Loan B, 8.502%, (TSFR3M+4.500%), 10/10/2031 | $| 266482 | 0.0 |
| 134999 <sup>(7)</sup> | Valvoline Inc., Term Loan B, 03/19/2032 |  | 135556 | 0.0 |
| 233238 | Viant Medical Holdings Inc., Term Loan B, 8.163%, (TSFR1M+4.000%), 10/29/2031 |  | 233675 | 0.0 |
| 585287 | Vizient Inc., Term B-8 Loan, 5.913%, (TSFR1M+1.750%), 08/01/2031 |  | 587848 | 0.1 |
| 410592 | VM Consolidated Inc., Term B-3 Loan, 6.413%, (TSFR1M+2.250%), 03/24/2028 |  | 411704 | 0.0 |
| 622776 | Wand NewCo 3 Inc., Tranche B-2 Term Loan, 6.663%, (TSFR1M+2.500%), 01/30/2031 |  | 621170 | 0.1 |
| 359100 | WCG Intermediate Corp, Term Loan B, 7.163%, (TSFR1M+3.000%), 02/25/2032 |  | 357439 | 0.0 |
|  |  |  | **25925987** | **1.2** |
|  | **Containers & Glass Products: 0.1%** | **Containers & Glass Products: 0.1%** | **Containers & Glass Products: 0.1%** |  |
| 512400 | Clydesdale Acquisition Holdings Inc., Term B Loan, 7.338%, (TSFR1M+3.175%), 04/13/2029 |  | 512111 | 0.1 |
| 244231 | Plaze Inc., 2021-1 Term Loan, 7.913%, (TSFR1M+3.750%), 08/03/2026 |  | 229577 | 0.0 |
| 2741 | ProAmpac PG Borrower LLC, 2024 Term Loan B, 8.195%, (TSFR3M+4.000%), 09/15/2028 |  | 2754 | 0.0 |
| 450000 | TricorBraun Inc., Term Loan, 7.413%, (TSFR1M+3.350%), 03/03/2031 |  | 448155 | 0.0 |
|  |  |  | **1192597** | **0.1** |
|  | **Electronics/Electrical: 0.0%** | **Electronics/Electrical: 0.0%** | **Electronics/Electrical: 0.0%** |  |
| 195578 | Creation Technologies Inc., Initial Term Loan, 10.047%, (TSFR3M+5.760%), 10/05/2028 |  | 194356 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Energy: 0.3%** | **Energy: 0.3%** | **Energy: 0.3%** |
| 374958 | Brazos Delaware II LLC, 2025 B-2 Refinancing Term Loan, 6.723%, (TSFR1M+2.500%), 02/11/2030 | $375380 | 0.0 |
| 242675 | CPPIB OVM Member U.S. LLC, Initial Term Loans, 6.502%, (TSFR3M+2.750%), 08/20/2031 | 243433 | 0.0 |
| 300000 <sup>(7)</sup> | Deep Blue Operating I LLC, Term Loan B, 09/17/2032 | 300750 | 0.0 |
| 493269 | Emg Utica Midstream Holdings LLC, Initial Term Loan, 8.002%, (TSFR3M+4.000%), 04/01/2030 | 495119 | 0.1 |
| 535229 <sup>(7)</sup> | Epic Crude Services LP, Tranche B, 10/15/2031 | 536233 | 0.1 |
| 142377 | GIP Pilot Acquisition Partners LP, Amendment No 2 Refinancing Term Loan, 6.286%, (TSFR3M+2.000%), 10/04/2030 | 142377 | 0.0 |
| 359110 | Goodnight Water Solutions Holdings, LLC, Initial Term Loans, 8.163%, (TSFR1M+4.000%), 06/04/2029 | 355968 | 0.0 |
| 253725 | Hilcorp Energy I LP, Term Loan B, 6.150%, (TSFR1M+2.000%), 02/11/2030 | 254624 | 0.0 |
| 154613 | M6 Etx Holdings Ii Midco LLC, Initial Term Loan, 7.252%, (TSFR3M+3.000%), 04/01/2032 | 154883 | 0.0 |
| 218900 | MRC Global (US) Inc., Term Loan, 7.663%, (TSFR1M+3.500%), 10/29/2031 | 219994 | 0.0 |
| 196437 | NorthRiver Midstream Finance LP, Term Loan (First Lien), 6.541%, (TSFR3M+2.250%), 08/16/2030 | 196790 | 0.0 |
| 308450 | Pasadena Performance Products LLC, 2025-1 Repricing Term Loan, 7.252%, (TSFR3M+3.250%), 02/27/2032 | 309028 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Energy: (continued)** |  |  |
| 605425 | Rockpoint Gas Storage Partners LP, Term Loan B, 7.002%, (TSFR3M+3.000%), 09/18/2031 | $608074 | 0.1 |
| 299250 | Stakeholder Midstream, LLC, Initial Term Loan, 8.042%, (TSFR6M+4.000%), 01/01/2031 | 298502 | 0.0 |
| 361350 | WaterBridge Midstream Operating LLC, Term Loan B, 9.030%, (TSFR1M+4.864%), 06/27/2029 | 362118 | 0.0 |
| 346500 | Waterbridge NDB Operating LLC(f/k/a Waterbridge Midstream Operating LLC), Initial Term Loan, 8.174%, (TSFR1M+4.000%), 05/10/2029 | 347691 | 0.0 |
| 410000 | Whitewater Matterhorn Holdings, LLC, Initial Term Loan, 6.625%, (TSFR3M+2.250%), 06/16/2032 | 410640 | 0.0 |
|  |  | **5611604** | **0.3** |
|  | **Financial: 0.9%** |  |  |
| 1060669 | Acrisure LLC, 2024 Repricing Term B-6 Loan, 7.163%, (TSFR1M+3.000%), 11/06/2030 | 1060449 | 0.1 |
| 184538 | Acrisure LLC, 2025 Term Loan B7, 7.252%, (TSFR3M+3.250%), 06/20/2032 | 184768 | 0.0 |
| 346507 | Acuren Delaware Holdco Inc (f/k/a AAL Delaware Holdco Inc), Amendment No. 1 Term Loan, 6.913%, (TSFR1M+2.750%), 07/30/2031 | 348023 | 0.0 |
| 470000 | Alera Group Inc., 2025 Term Loan, 7.413%, (TSFR1M+3.250%), 05/30/2032 | 472187 | 0.0 |
| 105000 | Alera Group Inc., Initial Term Loan, 9.663%, (TSFR1M+5.500%), 05/20/2033 | 108259 | 0.0 |
| 849066 | Alliant Holdings Intermediate LLC, 2025 Replacement Term Loan, 6.666%, (TSFR1M+2.500%), 09/19/2031 | 847691 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 466551 | Allspring Buyer LLC, 2024 Specified Refinancing Term Loan, 6.813%, (TSFR3M+2.750%), 11/01/2030 | $467912 | 0.0 |
| 868438 | AmWINS Group Inc., Initial Term Loans, 6.252%, (TSFR3M+2.250%), 01/30/2032 | 868763 | 0.1 |
| 365440 | Aragorn Parent Corporation, 2025 Replacement Term Loan, 7.663%, (TSFR1M+3.500%), 12/15/2028 | 367952 | 0.0 |
| 436808 | Ardonagh Group Finco Pty Ltd, 2025 Facility B Term Loan, 6.752%, (TSFR3M+2.750%), 02/15/2031 | 435443 | 0.0 |
| 635699 | Aretec Group Inc., Term B-3 Loan, 7.663%, (TSFR1M+3.500%), 08/09/2030 | 636419 | 0.1 |
| 564119 | Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc), 2024 Term Loan B, 7.163%, (TSFR1M+3.000%), 08/02/2028 | 564237 | 0.1 |
| 473813 | Asurion, New B-13 Term Loan, 8.413%, (TSFR1M+4.250%), 09/19/2030 | 472628 | 0.0 |
| 1024563 | Broadstreet Partners Inc., 2024 Term B Loans, 6.913%, (TSFR1M+2.750%), 06/13/2031 | 1026626 | 0.1 |
| 453863 | Brookfield Property Reit Inc., 2025 Replacement Term Loan, 7.663%, (TSFR1M+3.500%), 05/28/2030 | 455943 | 0.0 |
| 10329 <sup>(8)</sup> | Chrysaor Bidco S.A R.L., Delayed Draw Term Loan (Usd), 8.830%, (TSFR1M+3.500%), 10/30/2031 | 10387 | 0.0 |
| 138624 | Chrysaor Bidco S.A R.L., Facility B (USD), 7.329%, (TSFR3M+3.000%), 10/30/2031 | 139404 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 421128 | Citadel Securities LP, 2024 Term Facility, 6.163%, (TSFR1M+2.000%), 10/31/2031 | $422331 | 0.0 |
| 437770 | CPI Holdco B, LLC, Initial Term Loans, 6.163%, (TSFR1M+2.000%), 05/17/2031 | 437735 | 0.0 |
| 478488 | Cushman &Amp; Wakefield U.S. Borrower, Llc., 2025-2 Term Loan, 6.913%, (TSFR1M+2.750%), 01/31/2030 | 481478 | 0.0 |
| 184075 | Dechra Pharmaceuticals Holdings Limited (f/k/a Freya Bidco Limited), Facility B1 Loan, 7.447%, (TSFR6M+3.250%), 01/27/2032 | 184650 | 0.0 |
| 150000 | Edelman Financial Engines Center LLC (The), 2024 Refinancing Term Loans, 9.413%, (TSFR1M+5.750%), 10/06/2028 | 150563 | 0.0 |
| 526973 | Edelman Financial Engines Center LLC (The), 2024-2 Refinancing Term Loan, 7.163%, (TSFR1M+3.000%), 04/07/2028 | 527837 | 0.0 |
| 268315 | Etna French Bidco SAS, Facility B1 (USD) Loan, 8.786%, (TSFR3M+4.500%), 12/08/2031 | 267980 | 0.0 |
| 133655 | Etna French Bidco SAS, Facility B2 USD, 8.786%, (TSFR3M+4.500%), 12/08/2031 | 133488 | 0.0 |
| 129792 <sup>(7)(8)</sup> | First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc., Delayed Draw Term Loan, 08/16/2032 | 128640 | 0.0 |
| 760208 | First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc., Initial Term Loan, 7.711%, (TSFR3M+3.500%), 08/16/2032 | 760493 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 808960 | Focus Financial Partners LLC, Tranche B Incremental Term Loan, 6.913%, (TSFR1M+2.750%), 09/15/2031 | $809891 | 0.1 |
| 149625 | Goosehead Insurance Holdings, LLC, 2025 Term Loan B, 7.175%, (TSFR1M+3.000%), 01/08/2032 | 149999 | 0.0 |
| 110000 | Gryphon Acquire NewCo LLC, Term Loan B, 6.879%, (TSFR6M+3.000%), 09/13/2032 | 110344 | 0.0 |
| 369290 | Guardian US Holdco LLC, Initial Term Loan, 7.502%, (TSFR3M+3.500%), 01/31/2030 | 369751 | 0.0 |
| 243750 | HIG Finance 2 Limited, 2024-2 Refinancing Term Loans, 7.663%, (TSFR1M+3.500%), 04/18/2030 | 244753 | 0.0 |
| 449641 | HighTower Holding LLC, Amendment No. 10 Replacement Term Loan, 7.071%, (TSFR3M+2.750%), 02/03/2032 | 449641 | 0.0 |
| 256986 | HUB International Ltd, 2025 Incremental Term Loan, 6.575%, (TSFR3M+2.250%), 06/20/2030 | 257652 | 0.0 |
| 139650 | IMC Financing LLC, Term Loan, 7.636%, (TSFR1M+3.500%), 06/18/2032 | 141221 | 0.0 |
| 857219 | Jane Street Group LLC, Extended Term Loan, 6.199%, (TSFR3M+2.000%), 12/15/2031 | 851928 | 0.1 |
| 545000 | Osaic Holdings Inc (f/k/a Advisor Group Holdings Inc), Initial Term Loan, 7.163%, (TSFR1M+3.000%), 07/30/2032 | 545390 | 0.0 |
| 185000 <sup>(7)</sup> | Osttra Group Ltd., Term Loan (First Lien), 05/20/2032 | 186137 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 122048 | RHP Hotel Properties LP, Second Incremental Tranche B Term Loan, 6.163%, (TSFR1M+2.000%), 05/18/2030 | $122658 | 0.0 |
| 534665 | Ryan Specialty Group LLC, 2024 Term Loan B, 6.163%, (TSFR1M+2.250%), 09/15/2031 | 536447 | 0.0 |
| 280000 <sup>(7)</sup> | Starwood Property Mortgage LLC, Incremental Term B-2 Loan, 08/13/2032 | 280263 | 0.0 |
| 392042 | Starwood Property Mortgage LLC, Term B-5 Loan, 6.163%, (TSFR1M+2.000%), 01/02/2030 | 392042 | 0.0 |
| 480000 | Trucordia Insurance Holdings LLC, Initial Term Loan, 7.413%, (TSFR1M+3.250%), 06/17/2032 | 481800 | 0.0 |
| 235081 | Truist Insurance Holdings, LLC, 2024 Term Loan B, 6.752%, (TSFR3M+2.750%), 05/06/2031 | 235448 | 0.0 |
| 78947 | Truist Insurance Holdings, LLC, Initial Term Loans (Second Lien), 8.752%, (TSFR3M+4.750%), 05/06/2032 | 80543 | 0.0 |
| 297958 | USI Inc., 2024 Term Loan, 6.252%, (TSFR3M+2.250%), 09/27/2030 | 297846 | 0.0 |
| 486378 | USI Inc., 2024 Term Loan D, 6.252%, (TSFR3M+2.250%), 11/21/2029 | 486195 | 0.0 |
| 290000 | VFH Parent LLC, Term Loan B-2, 6.663%, (TSFR1M+2.500%), 06/21/2031 | 291088 | 0.0 |
| 225000 <sup>(7)</sup> | Victory Capital Holdings Inc., Term Loan B, 09/23/2032 | 224766 | 0.0 |
|  |  | **19508089** | **0.9** |
|  | **Food Products: 0.0%** |  |  |
| 320271 | BCPE North Star US Holdco 2 Inc., First Lien Initial Term Loan, 8.430%, (TSFR1M+4.114%), 06/09/2028 | 320471 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Food Products: (continued)** | **Food Products: (continued)** | **Food Products: (continued)** |
| 509727 | CHG PPC Parent LLC, 2021-1 US Term Loan, 7.278%, (TSFR1M+3.110%), 12/08/2028 | $511001 | 0.0 |
|  |  | **831472** | **0.0** |
|  | **Health Care: 0.1%** |  |  |
| 884888 | AthenaHealth Group Inc., Initial Term Loan, 6.913%, (TSFR1M+2.750%), 02/15/2029 | 883781 | 0.1 |
| 397642 | Embecta Corp, Initial Term Loan, 7.316%, (TSFR1M+3.000%), 03/30/2029 | 397891 | 0.0 |
| 12531 | National Mentor Holdings Inc., First Lien Initial Term C Loan, 7.852%, (TSFR3M+3.850%), 03/02/2028 | 12503 | 0.0 |
| 431448 | National Mentor Holdings Inc., First Lien Initial Term Loan, 7.852%, (TSFR3M+3.850%), 03/02/2028 | 430504 | 0.0 |
| 730000 | Opal Us LLC, Facility B2 Loan, 7.435%, (TSFR6M+3.250%), 04/28/2032 | 733080 | 0.0 |
| 358280 | Pacific Dental Services LLC, Term Loan USD 1BN, 6.643%, (TSFR1M+2.500%), 03/15/2031 | 358504 | 0.0 |
|  |  | **2816263** | **0.1** |
|  | **Industrial: 0.9%** |  |  |
| 542265 | Alliance Laundry Systems LLC, Initial Term B Loans, 6.385%, (TSFR1M+2.500%), 08/19/2031 | 542321 | 0.1 |
| 436695 | Altium Packaging LLC, 2024 Refinancing Term Loan, 6.663%, (TSFR1M+2.500%), 06/11/2031 | 429689 | 0.0 |
| 251738 | Anticimex Inc., Facility B6, 7.536%, (SOFRRATE+3.400%), 11/16/2028 | 252761 | 0.0 |
| 14387 | Arcosa, Inc., 2025 Refinancing Term Loan, 6.163%, (TSFR1M+2.000%), 10/01/2031 | 14495 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | | |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 475378 | Azorra Soar TLB FInance Limited, New Loan, 6.788%, (TSFR3M+2.750%), 10/18/2029 | $477160 | 0.0 |
| 393781 | Azuria Water Solutions Inc., 2025 Replacement Term Loan, 7.163%, (TSFR1M+3.000%), 05/17/2028 | 394519 | 0.0 |
| 520000 | BCP VI Summit Holdings LP, Initial Term Loan, 7.155%, (TSFR1M+3.500%), 01/30/2032 | 522708 | 0.0 |
| 480029 | Bombardier Recreational Products Inc., 2024 Extended Term Loan, 6.913%, (TSFR1M+2.750%), 01/22/2031 | 481425 | 0.0 |
| 163352 | Brown Group Holding LLC, Incremental Term B-2 Facility, 6.949%, (TSFR3M+2.750%), 07/01/2031 | 163896 | 0.0 |
| 678046 <sup>(7)</sup> | Chamberlain Group/ Chariot Buyer, 2025 New Term Loan B, 09/08/2032 | 679153 | 0.1 |
| 344474 | Chart Industries, Inc., 2024 Term Loan B, 6.792%, (TSFR3M+2.500%), 03/15/2030 | 346770 | 0.0 |
| 63723 | Clydesdale Acquisition Holdings Inc., 2025 Incremental Closing Date Term B Loan, 7.413%, (TSFR1M+3.255%), 04/01/2032 | 63691 | 0.0 |
| 1117 <sup>(8)</sup> | Clydesdale Acquisition Holdings Inc., Delayed Draw Term Loan, 7.413%, (TSFR1M+3.250%), 04/01/2032 | 1116 | 0.0 |
| 141256 | Coherent Corp (f/k/a II-VI Incorporated), New Term Loan B, 5.908%, (TSFR1M+1.750%), 07/02/2029 | 141300 | 0.0 |
| 501213 | Construction Partners Inc., Closing Date Loans, 6.663%, (TSFR1M+2.500%), 11/03/2031 | 502779 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |  | |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 363175 | Crown Equipment Corporation, Initial Term B-1, 6.530%, (TSFR1M+2.250%), 10/10/2031 | $364537 | 0.0 |
| 650000 <sup>(7)</sup> | DG Investment Intermediate Holdings 2 Inc., Tranche B, 07/12/2032 | 653250 | 0.1 |
| 489481 | Doosan Bobcat North America Inc (f/k/a Clark Equipment Company), Tranche B Term Loans, 6.002%, (TSFR3M+2.000%), 04/20/2029 | 491010 | 0.0 |
| 273224 | Dynasty Acquisition Co Inc., Initial Term B-1 Loan, 6.163%, (TSFR1M+2.000%), 10/31/2031 | 273566 | 0.0 |
| 103926 | Dynasty Acquisition Co Inc., Initial Term B-2 Loan, 6.163%, (TSFR1M+2.000%), 10/31/2031 | 104056 | 0.0 |
| 169821 | EMRLD Borrower LP, Initial Term B Loan, 6.449%, (TSFR3M+2.500%), 05/31/2030 | 169562 | 0.0 |
| 456204 | Filtration Group Corporation, 2025-B Incremental Dollar Term Loan, 6.913%, (TSFR1M+2.750%), 10/23/2028 | 458960 | 0.0 |
| 289 | Foley Products Company, LLC, Term Loan, 8.902%, (TSFR3M+4.900%), 12/29/2028 | 292 | 0.0 |
| 148875 | Frontdoor Inc., 2024 Term Loan B, 6.413%, (TSFR1M+2.250%), 12/17/2031 | 151108 | 0.0 |
| 153397 | Genesee & Wyoming Inc., Initial Term Loan B, 5.752%, (TSFR3M+1.750%), 04/10/2031 | 152971 | 0.0 |
| 315000 | GFL Environmental Services Inc., Initial Term Loan, 6.671%, (TSFR3M+2.500%), 03/03/2032 | 315459 | 0.0 |
| 325000 <sup>(7)</sup> | Green Infrastructure Partners Inc., Initial Term Loan, 09/24/2032 | 325712 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |  | |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 138889 | Gulfside Supply Inc., Initial Term Loan, 7.002%, (TSFR3M+3.000%), 06/17/2031 | $139222 | 0.0 |
| 824975 | Ingram Micro Inc., Term Loan B2, 6.248%, (TSFR3M+2.250%), 09/22/2031 | 829100 | 0.1 |
| 484649 | Kenan Advantage Group Inc (The), Term Loan B4, 7.413%, (TSFR1M+3.250%), 01/25/2029 | 478591 | 0.0 |
| 174477 | Legence Holdings LLC (f/k/a Refficiency Holdings LLC), Amendment No 9 Refinancing Term Loan, 7.163%, (TSFR1M+3.000%), 12/18/2028 | 175058 | 0.0 |
| 326368 | Lsf11 Trinity Bidco, Inc., 2025 Term Loan B, 6.647%, (TSFR1M+2.500%), 06/14/2030 | 327183 | 0.0 |
| 673313 <sup>(7)</sup> | Lsf12 Crown Us Commercial Bidco, LLC, Tranche B, 12/02/2031 | 675136 | 0.1 |
| 294263 | Madison Iaq LLC, 2025 Incremental Term Loan, 7.452%, (TSFR6M+3.250%), 05/06/2032 | 295954 | 0.0 |
| 290841 | Madison Iaq LLC, Initial Term Loan, 6.702%, (TSFR6M+2.500%), 06/21/2028 | 291478 | 0.0 |
| 495995 | Madison Safety & Flow LLC, 2025 Incremental Term B, 7.077%, (TSFR1M+2.750%), 09/26/2031 | 497459 | 0.0 |
| 153414 | MI Windows and Doors LLC, 2024 Incremental Term Loans, 7.066%, (TSFR1M+2.750%), 03/28/2031 | 154127 | 0.0 |
| 164588 | MV Holding GmbH FKA Igloo Holdings Corp, Senior Facility B (USD) Loan, 6.413%, (TSFR1M+2.250%), 03/17/2032 | 164999 | 0.0 |
| 295000 <sup>(7)</sup> | Plastipak Holdings Inc., Tl, 09/10/2032 | 295369 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 489310 | Pre Paid Legal Services Inc., First Lien Initial Term Loans, 7.566%, (TSFR1M+3.250%), 12/15/2028 | $463214 | 0.0 |
| 542691 | Pro Mach Group Inc., Amendment No.5 Refinancing Tl, 7.066%, (TSFR1M+2.750%), 08/31/2028 | 544241 | 0.1 |
| 83730 | Quikrete Holdings Inc., New Tranche B-1 Term Loan, 6.413%, (TSFR1M+2.250%), 04/14/2031 | 83802 | 0.0 |
| 387421 | Quikrete Holdings Inc., Term Loan B (2029), 6.413%, (TSFR1M+2.250%), 03/19/2029 | 388026 | 0.0 |
| 678300 | Red SPV LLC, Initial Term Loan, 6.386%, (TSFR1M+2.250%), 03/15/2032 | 679996 | 0.1 |
| 194513 | Savage Enterprises LLC, Term Loan B, 6.750%, (TSFR1M+2.500%), 08/04/2032 | 194938 | 0.0 |
| 388072 | Service Logic Acquisition Inc., Amendment 8 Refinancing Term Loan, 7.308%, (TSFR3M+3.000%), 10/29/2027 | 389042 | 0.0 |
| 226767 | Smyrna Ready Mix Concrete LLC, 2025 Term Loan, 7.166%, (TSFR1M+3.000%), 04/02/2029 | 227901 | 0.0 |
| 365000 <sup>(7)</sup> | Smyrna Ready Mix Concrete LLC, Add-on TL, 04/02/2029 | 366825 | 0.0 |
| 135000 <sup>(7)</sup> | Spectris PLC, Term Loan, 09/26/2032 | 135422 | 0.0 |
| 516008 | SPX Flow, Inc., 2025 Term Loans, 6.913%, (TSFR1M+2.750%), 04/05/2029 | 518911 | 0.0 |
| 350000 | Stonepeak Nile Parent LLC, Initial Term Loan, 7.079%, (TSFR3M+2.750%), 04/09/2032 | 350131 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** | **Industrial: (continued)** |
| 529917 | Third Coast Infrastructure LLC, 2025 Refinancing Term Loans, 7.913%, (TSFR1M+3.750%), 09/25/2030 | $| 533892 | 0.0 |
| 736227 | TK Elevator Midco Gmbh, (Usd) Term Loan B, 7.197%, (TSFR6M+3.000%), 04/30/2030 |  | 738839 | 0.1 |
| 365000 | Transdigm, Tranche M Term Loans, 6.502%, (TSFR3M+2.500%), 08/13/2032 |  | 365127 | 0.0 |
| 736291 | Transdigm Inc., New Tranche K Term Loan, 6.252%, (TSFR3M+2.250%), 03/22/2030 |  | 736118 | 0.1 |
| 280343 | Watlow Electric Manufacturing Company, Term Loan B, 7.308%, (TSFR3M+3.000%), 03/02/2028 |  | 280912 | 0.0 |
| 415800 | Wilsonart LLC, Initial Term Loans, 8.252%, (TSFR3M+4.250%), 08/05/2031 |  | 402583 | 0.0 |
|  |  |  | **20197862** | **0.9** |
|  | **Insurance: 0.1%** |  |  |  |
| 257544 | Ima Financial Group, Inc., Initial Term Loan, 7.163%, (TSFR1M+3.000%), 11/01/2028 |  | 257906 | 0.0 |
| 1049580 | Sedgwick Claims Management Services Inc., 2024 Term Loan, 7.327%, (TSFR1M+3.000%), 07/31/2031 |  | 1049318 | 0.1 |
|  |  |  | **1307224** | **0.1** |
|  | **Leisure Good/Activities/Movies: 0.0%** | **Leisure Good/Activities/Movies: 0.0%** | **Leisure Good/Activities/Movies: 0.0%** |  |
| 548801 | Hayward Industries Inc., First Lien Initial Term Loan, 6.763%, (TSFR1M+2.610%), 05/30/2028 |  | 550105 | 0.0 |
| 553306 | Playtika Holding Corp, Tranche B1, 7.191%, (TSFR1M+2.750%), 03/13/2028 |  | 545612 | 0.0 |
|  |  |  | **1095717** | **0.0** |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Lodging & Casinos: 0.1%** | **Lodging & Casinos: 0.1%** | **Lodging & Casinos: 0.1%** |
| 717489 | Fertitta Entertainment LLC, Initial B Term Loan, 7.413%, (TSFR1M+3.250%), 01/27/2029 | $717175 | 0.1 |
| 411769 | Golden Entertainment Inc., Term B-1 Loan, 6.413%, (TSFR1M+2.250%), 05/26/2030 | 413828 | 0 |
| 322388 | Hilton Grand Vacations Borrower LLC, Initial Term Loan, 6.163%, (TSFR1M+2.000%), 08/02/2028 | 322522 | 0 |
|  |  | **1453525** | **0.1** |
|  | **Radio & Television: 0.0%** |  |  |
| 50272 | DirectV Financing LLC, Closing Date Term Loan, 9.541%, (TSFR3M+5.262%), 08/02/2027 | 50363 | 0 |
|  | **Retailers (Except Food & Drug): 0.0%** | **Retailers (Except Food & Drug): 0.0%** |  |
| 581583 | Petco Health and Wellness Company Inc., First Lien Initial Term Loan, 7.513%, (TSFR3M+3.511%), 03/03/2028 | 567563 | 0 |
|  | **Technology: 1.0%** |  |  |
| 401373 | Adeia Inc., Amendment No 4 Term Loan B, 6.663%, (TSFR1M+2.500%), 06/08/2028 | 403631 | 0 |
| 388000 | Amentum Holdings LLC, Initial Term Loan, 6.413%, (TSFR1M+2.250%), 09/29/2031 | 388000 | 0 |
| 115000 | Applied Systems Inc., Initial Term Loan (2024) (Second Lien), 8.502%, (TSFR3M+4.500%), 02/23/2032 | 118019 | 0 |
| 514575 | Applied Systems Inc., Tranche B-1 Term Loan, 6.252%, (TSFR3M+2.250%), 02/24/2031 | 515632 | 0 |
| 475843 | Ascend Learning LLC, Amendment No 5 Term Loan, 7.316%, (TSFR1M+3.000%), 12/11/2028 | 475793 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 330000 | Asurion LLC, Second Lien Term Loan B3, 9.528%, (TSFR1M+5.364%), 01/31/2028 | $322644 | 0.0 |
| 279300 | BCPE Pequod Buyer Inc., Initial Term Loan, 7.163%, (TSFR1M+3.000%), 11/25/2031 | 280103 | 0.0 |
| 273625 | BMC Software (Boxer/ Bladelogic), 2031 Replacement Dollar Term Loan, 7.199%, (TSFR3M+3.000%), 07/30/2031 | 273582 | 0.0 |
| 223869 | Central Parent LLC, 2024 Refinance Term Loan, 7.252%, (TSFR3M+3.250%), 07/06/2029 | 193973 | 0.0 |
| 150000 | Clearwater Analytics LLC, Initial Term Loans, 6.460%, (TSFR6M+2.250%), 04/21/2032 | 150375 | 0.0 |
| 4 | Cloud Software Group Inc., Initial Dollar Term B Facility, 7.796%, (TSFR3M+3.500%), 03/30/2029 | 4 | 0.0 |
| 316151 | Connectwise, LLC, Initial Term Loan, 7.763%, (TSFR3M+3.762%), 09/29/2028 | 317060 | 0.0 |
| 214463 | Cotiviti Inc., Amendment No 2 Term Loan, 7.030%, (TSFR1M+2.750%), 03/26/2032 | 211246 | 0.0 |
| 700000 | Disco Parent Inc., Term Loan, 7.484%, (TSFR3M+3.250%), 08/02/2032 | 704375 | 0.1 |
| 545875 | Dragon Buyer, Inc., Term Loan, 6.752%, (TSFR3M+2.750%), 09/30/2031 | 547013 | 0.0 |
| 472262 | ECI Macola / Max Holding LLC, 2025 Repricing Term Loan, 6.752%, (TSFR3M+2.750%), 05/09/2030 | 472705 | 0.0 |
| 850088 | Epicor Software Corporation, Term F Loans, 6.663%, (TSFR1M+2.500%), 05/30/2031 | 851881 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 700000 | Finastra Usa, Inc., Initial USD Term Loans, 8.038%, (TSFR3M+4.000%), 07/30/2032 | $697900 | 0.1 |
| 248125 | Fortress Intermediate 3 Inc., 2025 Tlb, 7.255%, (TSFR1M+3.000%), 06/27/2031 | 249676 | 0.0 |
| 392288 | Gainwell Acquisition Corp, Term B Loan, 8.102%, (TSFR3M+4.100%), 10/01/2027 | 387139 | 0.0 |
| 298500 | Helios Software Holdings Inc., 2025 Dollar Term Loan, 7.002%, (TSFR3M+3.000%), 07/18/2030 | 299060 | 0.0 |
| 598500 <sup>(7)</sup> | Icon Parent I Inc., Tranche B, 11/13/2031 | 598500 | 0.1 |
| 171859 | Imagine Learning LLC, 2024 Term Loan, 7.663%, (TSFR1M+3.500%), 12/21/2029 | 149348 | 0.0 |
| 393619 | Informatica LLC, 2024 Term Loan B, 6.413%, (TSFR1M+2.250%), 10/27/2028 | 394973 | 0.0 |
| 150000 | Kaseya Inc., Initial Term Loan, 9.163%, (TSFR1M+5.000%), 03/05/2033 | 150328 | 0.0 |
| 283575 | Kaseya Inc., Term Loan, 7.577%, (TSFR1M+3.250%), 03/20/2032 | 284335 | 0.0 |
| 611925 | Leia Finco US LLC, Initial Term Loan, 7.570%, (TSFR3M+3.250%), 10/09/2031 | 612833 | 0.1 |
| 488791 | Mcafee Corp, Refinancing Tranche B-1, 7.223%, (TSFR1M+3.000%), 03/01/2029 | 468424 | 0.0 |
| 198500 | Minerals Technologies Inc., Term Loan B, 6.163%, (TSFR1M+2.000%), 11/21/2031 | 198872 | 0.0 |
| 544500 | Mitchell International, Inc., Initial Term Loan, 7.413%, (TSFR1M+3.250%), 06/17/2031 | 544670 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 288577 | MKS Instruments Inc., 2025-1 Dollar Term B Loans, 6.166%, (TSFR1M+2.000%), 08/17/2029 | $289163 | 0 |
| 97349 | Oceankey (U.S.) II Corp, Term Loan, 7.763%, (TSFR1M+3.500%), 12/15/2028 | 97608 | 0 |
| 199044 | Paysafe Holdings (US) Corp, Facility B1, 7.028%, (TSFR1M+2.860%), 06/28/2028 | 198547 | 0 |
| 587050 <sup>(7)</sup> | PointClickCare Technologies, Tranche B, 11/03/2031 | 588518 | 0.1 |
| 831551 | Project Boost Purchaser LLC, 1L Intial Term Loan, 7.296%, (TSFR1M+3.000%), 07/16/2031 | 830252 | 0.1 |
| 371632 <sup>(7)</sup> | Project Ruby Ultimate Parent Corp, Tranche B5, 03/10/2028 | 372251 | 0 |
| 60129 | Rackspace Finance, LLC, First Lien Term Loan, 7.040%, (TSFR1M+2.860%), 05/15/2028 | 26958 | 0 |
| 391090 | RealPage Inc., First Lien Initial Term Loan, 7.263%, (TSFR3M+3.262%), 04/24/2028 | 390466 | 0 |
| 450000 | Red Planet Borrower LLC, Initial Term Loan, 7.252%, (TSFR3M+3.250%), 09/08/2032 | 438750 | 0 |
| 448443 | Rocket Software Inc., Term Loan, 7.913%, (TSFR1M+3.750%), 11/28/2028 | 449480 | 0 |
| 285000 | Sandisk Corporation, Term B Loan, 7.135%, (TSFR1M+3.000%), 02/23/2032 | 285356 | 0 |
| 295329 | Skillsoft Finance II Inc., Initial Term Loan, 9.530%, (TSFR1M+5.364%), 07/14/2028 | 263520 | 0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** | **Technology: (continued)** | **Technology: (continued)** |
| 361757 | Skopima Consilio Parent LLC (FKA GI Consilio), Amendment No. 5 Term Loans, 7.913%, (TSFR1M+3.750%), 05/12/2028 | $307855 | 0.0 |
| 300425 | SonicWall US Holdings Inc., 2023 Term Loan, 9.002%, (TSFR3M+5.000%), 05/18/2028 | 286405 | 0.0 |
| 510958 | Sophos Holdings LLC, Dollar Tranche Term Loan, 7.778%, (TSFR1M+3.614%), 03/05/2027 | 512395 | 0.0 |
| 595000 | Starlight Parent LLC, Term Loan, 8.261%, (TSFR1M+4.000%), 04/16/2032 | 585331 | 0.1 |
| 241434 | Tenable Inc., Initial Term Loan, 7.028%, (TSFR1M+2.860%), 07/07/2028 | 243245 | 0.0 |
| 453617 | The Knot Worldwide Inc., Amendment No 5 term Loan, 7.913%, (TSFR1M+3.750%), 01/31/2028 | 454751 | 0.0 |
| 892805 | UKG Inc., Term Loan B, 7.320%, (TSFR3M+3.000%), 02/10/2031 | 893293 | 0.1 |
| 473838 | Veeam Software/ VS Buyer, 2025 Repriced 1St Lien Tlb, 6.560%, (TSFR1M+2.250%), 04/14/2031 | 474430 | 0.0 |
| 491247 | Virtusa Corporation, Term B-2 Loan, 7.413%, (TSFR1M+3.250%), 02/15/2029 | 485925 | 0.0 |
| 393680 | Waystar Technologies Inc., Initial Term Loan B, 6.316%, (TSFR1M+2.000%), 10/22/2029 | 394664 | 0.0 |
| 708225 | World Wide Technology Holding Co LLC, 2025 Refinancing Term Loan, 6.158%, (TSFR1M+2.000%), 03/01/2030 | 711766 | 0.1 |
|  |  | **20843023** | **1.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Telecommunications: 0.0%** | **Telecommunications: 0.0%** | **Telecommunications: 0.0%** |
| 400350 | Asurion LLC, New B11 Term Loan, 8.513%, (TSFR1M+4.350%), 08/21/2028 | $401952 | 0.0 |
| 70745 | Viasat Inc., Initial Term Loan, 8.778%, (TSFR1M+4.610%), 03/02/2029 | 69993 | 0.0 |
| 365949 | Zayo Group Holdings Inc., Initial Dollar Term Loan, 7.430%, (TSFR1M+3.114%), 03/09/2027 | 361031 | 0.0 |
|  |  | **832976** | **0.0** |
|  | **Utilities: 0.1%** |  |  |
| 183609 | AL GCX Fund VIII Holdings LLC, Initial Term Loan B, 6.223%, (TSFR1M+2.000%), 01/30/2032 | 183265 | 0.0 |
| 217800 | Alpha Generation LLC, Initial Term B Loan, 6.163%, (TSFR1M+2.000%), 09/30/2031 | 217834 | 0.0 |
| 267504 | Bip Pipeco Holdings LLC, Term Loan, 6.536%, (TSFR3M+2.250%), 12/05/2030 | 267972 | 0.0 |
| 361800 | Discovery Energy Holding Corporation, Initial Dollar Term Loan, 7.752%, (TSFR3M+3.750%), 05/01/2031 | 362817 | 0.1 |
| 331650 | Lightning Power, LLC, Initial Term B Loan, 6.252%, (TSFR3M+2.250%), 08/18/2031 | 331798 | 0.0 |
| 144633 | NRG Energy Inc., Term Loan, 6.064%, (TSFR3M+1.750%), 04/16/2031 | 144801 | 0.0 |
| 313784 | Vistra Operations Company LLC, 2018 Incremental Term Loan, 5.913%, (TSFR1M+1.750%), 12/20/2030 | 314514 | 0.0 |
|  |  | **1823001** | **0.1** |
|  | Total Bank Loans |  |  |
|  | (Cost $144,203,629) | **144642866** | **6.7** |
| **SOVEREIGN BONDS: 3.5%** | **SOVEREIGN BONDS: 3.5%** |  |  |
| <sup>BRL</sup>205979 <sup>(9)</sup> | Brazil Letras do Tesouro Nacional LTN,15.084%, 01/01/2026 | 37369916 | 1.8 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | |  |
| <sup>BRL</sup>13000000 | Brazil Notas do Tesouro Nacional Serie B NTNB, 6.000%, 05/15/2035 | $10234847 | 0.5 |
| <sup>BRL</sup>6628000 | Brazil Notas do Tesouro Nacional Serie B NTNB, 6.000%, 08/15/2050 | 4952059 | 0.2 |
| 2875000 | Brazilian Government International Bond, 6.625%, 03/15/2035 | 2995750 | 0.1 |
| 206000 | Colombia Government International Bond, 5.200%, 05/15/2049 | 155479 | 0.0 |
| 900000 | Colombia Government International Bond, 7.750%, 11/07/2036 | 945225 | 0.1 |
| 2000000 | Colombia Government International Bond, 8.375%, 11/07/2054 | 2123000 | 0.1 |
| 2650000 | Colombia Government International Bond, 8.500%, 04/25/2035 | 2936863 | 0.1 |
| 1675000 <sup>(2)</sup> | Dominican Republic International Bond, 6.950%, 03/15/2037 | 1794134 | 0.1 |
| 1425000 <sup>(2)</sup> | Guatemala Government Bond, 6.050%, 08/06/2031 | 1486987 | 0.1 |
| 675000 <sup>(2)</sup> | Guatemala Government Bond, 6.550%, 02/06/2037 | 714447 | 0.0 |
| 1436000 | Mexico Government International Bond, 5.850%, 07/02/2032 | 1490927 | 0.1 |
| 1169000 | Mexico Government International Bond, 6.625%, 01/29/2038 | 1232126 | 0.1 |
| 656000 | Mexico Government International Bond, 7.375%, 05/13/2055 | 723896 | 0.0 |
| 600000 | Panama Government International Bond, 3.160%, 01/23/2030 | 560100 | 0.0 |
| 1200000 <sup>(5)</sup> | Panama Government International Bond, 7.500%, 03/01/2031 | 1327200 | 0.1 |
| 1150000 <sup>(2)</sup> | Republic of South Africa Government International Bond, |  |  |
|  | 7.100%, 11/19/2036 | 1202038 | 0.1 |
| 550000 <sup>(2)</sup> | Republic of South Africa Government International Bond, |  |  |
|  | 7.950%, 11/19/2054 | 559754 | 0.0 |
| 625000 | Republic of South Africa Government International Bond 10Y, 5.875%, 04/20/2032 | 632513 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal** | **Principal** | | |
| **Amount†** | **Amount†** | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
| 924000 <sup>(2)</sup> | Romanian Government International Bond, 5.750%, 03/24/2035 | $892238 | 0.0 |
| 125232 <sup>(2)(10)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 66060 | 0.0 |
| 467977 <sup>(2)(10)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2034 | 194795 | 0.0 |
| 395473 <sup>(2)(10)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2035 | 192793 | 0.0 |
| 329561 <sup>(2)(10)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2036 | 160331 | 0.0 |
| 603324 <sup>(2)(10)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2029 | 413277 | 0.0 |
| 793835 <sup>(2)(10)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2034 | 445738 | 0.0 |
| 718884 <sup>(2)(10)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2035 | 397183 | 0.0 |
| 176565 <sup>(2)(10)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2036 | 96228 | 0.0 |
|  | Total Sovereign Bonds |  |  |
|  | (Cost $67,481,612) | **76295904** | **3.5** |

---

---

| | | | |
|:---|:---|:---|:---|
| **U.S. TREASURY OBLIGATIONS: 1.7%** | **U.S. TREASURY OBLIGATIONS: 1.7%** | **U.S. TREASURY OBLIGATIONS: 1.7%** | **U.S. TREASURY OBLIGATIONS: 1.7%** |
|  | **United States Treasury Notes: 1.7%** | **United States Treasury Notes: 1.7%** |  |
| 1018900 | 3.375%, 09/15/2028 | 1012014 | 0.1 |
| 13177600 | 3.500%, 09/30/2027 | 13149803 | 0.6 |
| 10107900 | 3.625%, 09/30/2030 | 10056966 | 0.5 |
| 11552300 | 3.875%, 09/30/2032 | 11515297 | 0.5 |
|  |  | **35734080** | **1.7** |
|  | Total U.S. Treasury Obligations |  |  |
|  | (Cost $35,722,995) | **35734080** | **1.7** |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMON STOCK: 0.0%** | **COMMON STOCK: 0.0%** | **COMMON STOCK: 0.0%** | **COMMON STOCK: 0.0%** |
|  | **Business Equipment & Services: 0.0%** | **Business Equipment & Services: 0.0%** | **Business Equipment & Services: 0.0%** |
| 5366 <sup>(11)</sup> | Yak Access LLC Series A | $54 | 0.0 |
| 1157 <sup>(11)</sup> | Yak Access LLC Series B | 11 | 0.0 |
|  |  | **65** | **0.0** |
|  | **Consumer Discretionary: 0.0%** | **Consumer Discretionary: 0.0%** |  |
| 574167 <sup>(11)</sup> | 24 Hour Fitness Worldwide, Inc. | 5742 | 0.0 |
| 113 <sup>(11)</sup> | Travelport Tech Ltd. | 37815 | 0.0 |
|  |  | **43557** | **0.0** |
|  | Total Common Stock |  |  |
|  | (Cost $775,442) | **43622** | **0.0** |
| **PURCHASED OPTIONS<sup>(12)</sup>: 0.0%** | **PURCHASED OPTIONS<sup>(12)</sup>: 0.0%** |  |  |
|  | Total Purchased Options |  |  |
|  | (Cost $848,118) | 155264 | 0.0 |
|  | Total Long-Term Investments |  |  |
|  | (Cost $2,135,506,193) | **2123063369** | **99.1** |
|  |  |  | **Percentage** |
| **Principal** |  |  | **of Net** |
| **Amount†** | **RA** | **Value** | **Assets** |
| **SHORT-TERM INVESTMENTS: 1.8%** | **SHORT-TERM INVESTMENTS: 1.8%** |  |  |
|  | **Repurchase Agreements: 0.9%** | **Repurchase Agreements: 0.9%** |  |
| 5425031 <sup>(13)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $5,425,657, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $5,533,598, due 08/27/27-09/01/55) | 5425031 | 0.3 |
| 229138 <sup>(13)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $229,164, collateralized by various U.S. Government Securities, 0.000%-4.000%, Market Value plus accrued interest $233,721, due 07/15/26-08/15/54) | 229138 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 4462101 <sup>(13)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.220%, due 10/01/2025 (Repurchase Amount $4,462,617, collateralized by various U.S. Government Agency Obligations, 1.923%-6.500%, Market Value plus accrued interest $4,551,343, due 08/01/32-06/01/64) | $4462101 | 0.2 |
| 431703 <sup>(13)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $431,753, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $440,337, due 12/31/31-05/31/32) | 431703 | 0.0 |
| 596859 <sup>(13)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $596,928, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $608,796, due 11/18/25-08/15/55) | 596859 | 0.0 |
| 192104 <sup>(13)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $192,126, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $195,946, due 10/23/25-08/15/55) | 192104 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 3461868 <sup>(13)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $3,462,266, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.625%-7.000%, Market Value plus accrued interest $3,531,107, due 01/15/29-10/01/55) | $3461868 | 0.2 |
| 5409861 <sup>(13)</sup> | State of Wisconsin Investment Board, Repurchase Agreement dated 09/30/2025, 4.290%, due 10/01/2025 (Repurchase Amount $5,410,497, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $5,507,935, due 10/15/26-02/15/54) | 5409861 | 0.2 |
|  | Total Repurchase Agreements |  |  |
|  | (Cost $20,208,665) | **20208665** | **0.9** |
|  | **Time Deposits: 0.2%** |  |  |
| 580000 <sup>(13)</sup> | Canadian Imperial Bank of Commerce, 4.090%, 10/01/2025 | 580000 | 0.0 |
| 530000 <sup>(13)</sup> | DZ Bank AG, 4.080%, 10/01/2025 | 530000 | 0.0 |
| 530000 <sup>(13)</sup> | HSBC Bank PLC, 4.130%, 10/01/2025 | 530000 | 0.0 |
| 560000 <sup>(13)</sup> | Landesbank Hessen Thueringen Girozentrale, 4.100%, 10/01/2025 | 560000 | 0.0 |
| 580000 <sup>(13)</sup> | Mizuho Bank Ltd., 4.100%, 10/01/2025 | 580000 | 0.1 |
| 580000 <sup>(13)</sup> | Royal Bank of Canada, 4.140%, 10/01/2025 | 580000 | 0.1 |
| 580000 <sup>(13)</sup> | Societe Generale S.A., 4.090%, 10/01/2025 | 580000 | 0.0 |
|  | Total Time Deposits |  |  |
|  | (Cost $3,940,000) | **3940000** | **0.2** |
|  | **Commercial Paper: 0.3%** |  |  |
| 2400000 | Entergy Corp., 4.270%, 10/01/2025 | 2399719 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Commercial Paper (continued)** | **Commercial Paper (continued)** |  |
| 2961000 <sup>(2)</sup> | Johnson Controls International PLC, 4.260%, 10/01/2025 | $2960654 | 0.2 |
|  | Total Commercial Paper |  |  |
|  | (Cost $5,361,000) | **5360373** | **0.3** |
|  |  |  | **Percentage** |
|  |  |  | **of Net** |
| **Shares** | **RA** | **Value** | **Assets** |
|  | **Mutual Funds: 0.4%** |  |  |
| 8162797 <sup>(14)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.030% |  |  |
|  | (Cost $8,162,797) | $**8162797** | **0.4** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $37,672,462) | **37671835** | **1.8** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $2,173,178,655)** | $**2160735204** | **100.9** |
|  | **Liabilities in Excess of Other Assets** | **(18851725)** | **(0.9)** |
|  | **Net Assets** | $**2141883479** | **100.0** |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>(2)</sup> | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
| <sup>(3)</sup> | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
| <sup>(4)</sup> | Principal only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments of interest on the pool are passed through the principal only security. |
| <sup>(5)</sup> | Security, or a portion of the security, is on loan. |
| <sup>(6)</sup> | Represents or includes a TBA transaction. |
| <sup>(7)</sup> | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| <sup>(8)</sup> | All or a portion of this holding is subject to unfunded loan commitments. Please refer to Note 10 for additional details. |
| <sup>(9)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2025. |
| <sup>(10)</sup> | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect the current and next coupon rate as of September 30, 2025. |
| <sup>(11)</sup> | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| <sup>(12)</sup> | The tables within the Portfolio of Investments detail open purchased options which are non-income producing securities. |
| <sup>(13)</sup> | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| <sup>(14)</sup> | Rate shown is the 7-day yield as of September 30, 2025. |

---

Currency Abbreviations:

BRL Brazilian Real <br> EUR EU Euro

Reference Rate Abbreviations:

12MTA 12-month Treasury Average

SOFR30A 30-day Secured Overnight Financing Rate

SOFRRATE 1-day Secured Overnight Financing Rate

TSFR1M 1-month CME Term Secured Overnight Financing Rate

TSFR3M 3-month CME Term Secured Overnight Financing Rate

TSFR6M 6-month CME Term Secured Overnight Financing Rate

TSFR12M 12-month CME Term Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Collateralized Mortgage Obligations | $— | $593186016 | $— | $593186016 |
| Corporate Bonds/Notes |  | 481339763 |  | 481339763 |
| Commercial Mortgage-Backed Securities |  | 398275133 |  | 398275133 |
| Asset-Backed Securities |  | 243656599 |  | 243656599 |
| U.S. Government Agency Obligations |  | 149734122 |  | 149734122 |
| Bank Loans |  | 144642866 |  | 144642866 |
| Sovereign Bonds |  | 76295904 |  | 76295904 |
| U.S. Treasury Obligations |  | 35734080 |  | 35734080 |
| Purchased Options |  | 155264 |  | 155264 |
| Common Stock |  |  | 43622 | 43622 |
| Short-Term Investments | 8162797 | 29509038 |  | 37671835 |
| Total Investments, at fair value | $8162797 | $2152528785 | $43622 | $2160735204 |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Credit Default Swaps |  | 77911 |  | 77911 |
| Centrally Cleared Interest Rate Swaps |  | 179566 |  | 179566 |
| Forward Foreign Currency Contracts |  | 416688 |  | 416688 |
| Forward Premium Swaptions |  | 2172868 |  | 2172868 |
| Futures | 319453 |  |  | 319453 |
| OTC Total Return Swaps |  | 5248600 |  | 5248600 |
| OTC volatility swaps |  | 902930 |  | 902930 |
| Total Assets | $8482250 | $2161527348 | $43622 | $2170053220 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Interest Rate Swaps | $— | $(1073786) | $— | $(1073786) |
| Forward Foreign Currency Contracts |  | (6187765) |  | (6187765) |
| Forward Premium Swaptions |  | (1853959) |  | (1853959) |
| Futures | (2166196) |  |  | (2166196) |
| OTC volatility swaps |  | (96984) |  | (96984) |
| Sales Commitments |  | (88094834) |  | (88094834) |
| Written Options |  | (555246) |  | (555246) |
| Total Liabilities | $(2166196) | $(97862574) | $— | $(100028770) |

---

^ See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

---

| | |
|:---|:---|
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following forward foreign currency contracts were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **Unrealized** |
|  |  |  |  |  |  | **Appreciation** |
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement Date** | **(Depreciation)** |
| USD |  | JPY | 10 | Banco Bilbao Vizcaya Argentaria S.A. | 10/31/25 | $— |
| EUR | 58996 | USD | 69570 | Barclays Bank PLC | 10/31/25 | (176) |
| MXN | 166897164 | USD | 9064636 | BNP Paribas | 11/07/25 | 12191 |
| USD |  | JPY | 10 | Brown Brothers Harriman & Co. | 10/31/25 |  |
| USD | 4213568 | TRY | 198711889 | Deutsche Bank AG | 11/10/25 | (410380) |
| USD | 4963046 | MXN | 91750343 | Goldman Sachs International | 11/07/25 | (26865) |
| USD | 8153371 | MXN | 152946642 | Goldman Sachs International | 11/07/25 | (164747) |
| TRY | 198459074 | USD | 4213568 | Goldman Sachs International | 11/10/25 | 404497 |
| USD | 33091654 | BRL | 205979000 | Goldman Sachs International | 01/05/26 | (4735868) |
| USD | 14915802 | BRL | 82318523 | HSBC Bank USA N.A. | 11/07/25 | (410554) |
| USD | 3378 | PEN | 11921 | Morgan Stanley Capital Services LLC | 11/07/25 | (52) |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | <br>**Counterparty** | <br>**Settlement Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 12184008 | COP | 48012178942 | Morgan Stanley Capital Services LLC | 11/07/25 | $(2828) |
| USD | 8160205 | MXN | 152946643 | Morgan Stanley Capital Services LLC | 11/07/25 | (157912) |
| JPY | 10 | USD |  | Royal Bank of Canada | 10/31/25 |  |
| JPY | 1909572 | USD | 13111 | Standard Chartered Bank | 10/31/25 | (155) |
| EUR | 568973 | USD | 675860 | Standard Chartered Bank | 10/31/25 | (6602) |
| USD | 5120788 | MXN | 94732304 | Standard Chartered Bank | 11/07/25 | (31299) |
| COP | 47701298055 | USD | 12348252 | Wells Fargo Bank N.A. | 11/07/25 | (240327) |
|  |  |  |  |  |  | $(5771077) |

---

At September 30, 2025, the following futures contracts were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** | <br>**Number**<br>**of Contracts** | <br>**Expiration**<br>**Date** | <br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| <u>Long Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Euro-Bund | 530 | 12/08/25 | $80002465 | $(460888) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 329 | 12/31/25 | 68563086 | (52363) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 2349 | 12/31/25 | 256499789 | (86195) |
|  |  |  | $405065340 | $(599446) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Euro-OAT | (520) | 12/08/25 | (74085119) | 319453 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (977) | 12/19/25 | (109912500) | (322600) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (186) | 12/19/25 | (21686437) | (343570) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (935) | 12/19/25 | (107598047) | (897453) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (50) | 12/19/25 | (6003125) | (3127) |
|  |  |  | $(319285228) | $(1247297) |

---

At September 30, 2025, the following centrally cleared credit default swaps were outstanding for Voya Strategic Income Opportunities Fund:

**Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection** **<sup>(1)</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Notional** | **Notional** | | |
| <br>**Reference Entity/Obligation** | <br>**Buy/Sell**<br>**Protection** | **(Pay)/**<br>**Receive**<br>**Financing**<br>**Rate (%)<sup>(2)</sup>** | <br>**Termination**<br>**Date** | **Amount<sup>(3)</sup>** | **Amount<sup>(3)</sup>** |<br>**Fair**<br>**Value<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| CDX.North American Index High Yield Series, 45, Version 1 | Sell | 5.000 | 12/20/30 | USD | 62706000 | $4842880 | $77911 |
|  |  |  |  |  |  | $4842880 | $77911 |

---

<sup>(1)</sup> If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will generally either i) Pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising the referenced index or ii) Pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

<sup>(2)</sup> Payments received quarterly.

<sup>(3)</sup> The maximum amount of future payments (undiscounted) that a Fund as seller of protection could be required to make or receive as a buyer of credit protection under a credit default swap agreement would be an amount equal to the notional amount of the agreement.

<sup>(4)</sup> The fair values for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. Increasing fair values, in absolute terms, when compared to the notional amount of the agreement, represent a deterioration of the referenced obligation's credit soundness and a greater likelihood or risk of default or other credit event occurring.

 

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

At September 30, 2025, the following centrally cleared interest rate swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Pay/Receive**<br>**Floating Rate** | <br>**Floating Rate Index** | **Floating**<br>**Rate Index**<br>**Payment**<br>**Frequency** | <br>**Fixed**<br>**Rate** | <br>**Fixed Rate**<br>**Payment**<br>**Frequency** | <br>**Maturity**<br>**Date** | **Amount** | **Amount** |<br>**Fair**<br>**Value** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.730% | Annual | 03/05/30 | USD | 4000000 | $60450 | $60450 |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.933 | Annual | 05/05/45 | USD | 9722617 | (38947) | (38947) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.736 | Annual | 07/20/37 | USD | 2945400 | 19738 | 19738 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.857 | Annual | 05/05/55 | USD | 3835032 | 54740 | 54740 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.539 | Annual | 07/23/30 | USD | 4000000 | (29364) | (29364) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.932 | Annual | 07/20/37 | USD | 5211000 | (45520) | (45520) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.699 | Annual | 05/05/35 | USD | 8088677 | (41778) | (41778) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.444 | Annual | 08/16/44 | USD | 8327900 | (9951) | (9951) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.452 | Annual | 11/29/44 | USD | 8536100 | (11472) | (11472) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.143 | Annual | 02/18/30 | USD | 13000000 | (413411) | (413411) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.211 | Annual | 02/14/30 | USD | 14000000 | (483343) | (483343) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.618 | Annual | 09/24/35 | USD | 15000000 | 44638 | 44638 |
|  |  |  |  |  |  |  |  | $(894220) | $(894220) |

---

At September 30, 2025, the following OTC total return swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Total<br> Return<sup>(1)</sup>** | **Reference Entity** | **Reference <br> Entity<br> Payment<br> Frequency** | **(Pay)/ <br> Receive<br> Financing<br> Rate** | **Floating<br> Rate<br> Payment <br> Frequency** | **Counterparty** | **Termination <br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Fair <br> Value** | **Upfront <br> Payments<br> Paid/<br> (Received)** | **Unrealized <br> Appreciation/ <br> (Depreciation)** |
| Receive | iShares iBoxx $High Yield Corporate Bond ETF | Monthly | Secured Overnight Financing Rate + 0.00% | Monthly | Morgan Stanley Capital Services LLC | 12/20/25 | USD | 30000000 | $1800000 | $— | $1800000 |
| Receive | iShares iBoxx $High Yield Corporate Bond ETF | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Morgan Stanley Capital Services LLC | 12/20/25 | USD | 62000000 | 3428600 |  | 3428600 |
| Receive | Markit iBoxx Leveraged Loan | Quarterly | Secured Overnight Financing Rate + 0.00% | Quarterly | Morgan Stanley Capital Services LLC | 09/20/26 | USD | 20000000 | 20000 | (9195) | 29195 |
|  |  |  |  |  |  |  |  |  | $5248600 | $(9195) | $5257795 |

---

<sup>(1)</sup> The Fund will pay or receive the total return of the reference entity depending on whether the return is positive or negative. Where the Fund has elected to receive the total return of the reference entity if positive, it will be responsible for paying the floating rate and the total return of the reference entity, if negative. If the Fund has elected to pay the total return of the reference entity if positive, it will receive the floating rate and the total return of the reference entity, if negative.

At September 30, 2025, the following OTC volatility swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/**<br>**Receive**<br>**Volatility<sup>(1)</sup>** | <br>**Reference Entity** | **Volatility**<br>**Strike**<br>**Rate** | <br>**Counterparty** | <br>**Maturity**<br>**Date** | <br>**Currency** |<br>**Notional**<br>**Amount** |<br>**Fair Value** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| Pay | USD vs. INR Spot Exchange Rate | 4.325% | BNP Paribas | 02/10/26 | USD | 36444000 | $(96984) | $(96984) |
| Receive | USD vs. BRL Spot Exchange Rate | 15.300% | Bank of America N.A. | 01/05/26 | USD | 36020000 | 180694 | 180694 |
| Receive | USD vs. BRL Spot Exchange Rate | 18.300% | Goldman Sachs International | 06/24/26 | USD | 30757000 | 315736 | 315736 |
| Receive | EUR vs. USD Spot Exchange Rate | 8.400% | Morgan Stanley Capital Services LLC | 02/10/26 | USD | 36444000 | 316153 | 316153 |
| Receive | USD vs. BRL Spot Exchange Rate | 15.300% | Morgan Stanley Capital Services LLC | 01/05/26 | USD | 18010000 | 90347 | 90347 |
|  |  |  |  |  |  |  | $805946 | $805946 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

At September 30, 2025, the following OTC purchased credit default swaptions were outstanding for Strategic Income Opportunities:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Reference Entity** | <br>**Exercise**<br>**Rate (%)** | **(Pay)/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Strike**<br>**Price** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br><br>**Cost** |<br>**Fair**<br>**Value** |
| Put on 5-Year Credit Default Swap | Citibank N.A. | CDX North American High Yield, Series 44, Version 1 | 5.000 | Pay | 104.000% | 10/15/25 | USD | 15624000 | $84369 | $&nbsp;&nbsp;&nbsp;&nbsp;1675 |
| Put on 5-Year Credit Default Swap | Morgan Stanley Capital Services LLC | CDX North American High Yield, Series 44,Version 1 | 5.000 | Pay | 104.000% | 10/15/25 | USD | 26269000 | 133972 | &nbsp;&nbsp;&nbsp;&nbsp;2817 |
|  |  |  |  |  |  |  |  |  | $218341 | $4492 |

---

At September 30, 2025, the following OTC written credit default swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Reference Entity** | <br>**Exercise**<br>**Rate (%)** | **(Pay)/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Strike**<br>**Price** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br>**Premiums**<br>**Received** |<br>**Fair**<br>**Value** |
| Put on 5-Year Credit Default Swap | Citibank N.A. | CDX North American High Yield, Series 44,Version 1 | 5.000 | Receive | 106.000% | 10/15/25 | USD | 15624000 | $151896 | $(5602) |
| Put on 5-Year Credit Default Swap | Morgan Stanley Capital Services LLC | CDX North American High Yield, Series 44,Version 1 | 5.000 | Receive | 106.000% | 10/15/25 | USD | 26269000 | 243317 | (9418) |
| Put on 5-Year Credit Default Swap | Deutsche Bank AG | iTraxx Crossover Index,Series 43, Version 2 | 5.000 | Receive | 287.500% | 10/15/25 | EUR | 35833518 | 138538 | (13917) |
| Put on 5-Year Credit Default Swap | Goldman Sachs International | CDX North American High Yield, Series 44,Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 20533000 | 107305 | (72079) |
| Put on 5-Year Credit Default Swap | Royal Bank of Canada | CDX North American High Yield, Series 44,Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 23596000 | 123879 | (82832) |
| Put on 5-Year Credit Default Swap | BNP Paribas | CDX North American High Yield, Series 45,Version 1 | 5.000 | Receive | 106.500% | 11/19/25 | USD | 21353000 | 117442 | (117442) |
| Put on 5-Year Credit Default Swap | Citibank N.A. | CDX North American High Yield, Series 44,Version 1 | 5.000 | Receive | 107.000% | 11/19/25 | USD | 39845000 | 295251 | (186747) |
|  |  |  |  |  |  |  |  |  | $1177628 | $(488037) |

---

At September 30, 2025, the following OTC purchased foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Description** | <br>**Counterparty** | **Expiration**<br>**Date** | **Exercise**<br>**Price** | **Notional Amount** | **Notional Amount** |<br>**Cost** |<br>**Fair Value** |
| Call USD vs. Put JPY | Goldman Sachs International | 10/13/25 | 125.000 | USD | 582000 | $49179 | $1 |
| Put USD vs. Call JPY | Goldman Sachs International | 11/04/25 | 143.000 | USD | 20703000 | 282617 | 62885 |
| Put USD vs. Call JPY | Morgan Stanley Capital Services LLC | 10/13/25 | 125.000 | USD | 582000 | 51081 | 1 |
|  |  |  |  |  |  | $382877 | $62887 |

---

At September 30, 2025, the following OTC written foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Description** | <br>**Counterparty** | **Expiration**<br>**Date** | **Exercise**<br>**Price** | **Notional Amount** | **Notional Amount** | **Premiums**<br>**Received** |<br>**Fair Value** |
| Put USD vs. Call JPY | Goldman Sachs International | 11/04/25 | 140.000 | USD | 20703000 | $169371 | $(23118) |
|  |  |  |  |  |  | $169371 | $(23118) |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

At September 30, 2025, the following OTC purchased interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br><br>**Cost** |<br><br>**Fair Value** |
| Call on 5-Year Interest Rate Swap<sup>(1)</sup> | Morgan Stanley Capital Services LLC | Receive | 2.500% | &nbsp;&nbsp;6-month EUR-EURIBOR | 05/20/26 | EUR | 44213000 | $246900 | $87885 |
|  |  |  |  |  |  |  |  | $246900 | $87885 |

---

At September 30, 2025, the following OTC written interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | **Pay/Receive**<br>**Exercise**<br>**Rate** | <br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** |<br>**Premiums**<br>**Received** |<br>**Fair Value** |
| Call on 10-Year Interest Rate Swap<sup>(2)</sup> | Morgan Stanley Capital Services LLC | Pay | 2.300% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 22107000 | $182062 | $(44091) |
| Put on 2-Year Interest Rate Swap<sup>(1)</sup> | Mizuho Capital Markets LLC | Receive | 3.700% | 1-day Secured Overnight Financing Rate | 10/03/25 | USD | 55890000 | 89983 |  |
|  |  |  |  |  |  |  |  | $272045 | $(44091) |

---

At September 30, 2025, the following OTC purchased forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Call on 10-Year Interest Rate Swap | Bank of America N.A. | 4.103% | Receive | 1-day Secured Overnight Financing Rate | 07/16/27 | USD | 22656600 | $(1011050) | $135137 |
| Call on 10-Year Interest Rate Swap | Barclays Bank PLC | 2.355% | Receive | 1-day Secured Overnight Financing Rate | 11/27/34 | USD | 22347000 | (404481) | 274110 |
| Call on 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 2.375% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 20819720 | (874428) | (382449) |
| Call on 30-Year Interest Rate Swap | Barclays Bank PLC | 17.500% | Receive | 1-day Secured Overnight Financing Rate | 06/14/27 | USD | 22958000 | (4017650) | 469397 |
| Put on 10-Year Interest Rate Swap | Bank of America N.A. | 4.103% | Pay | 1-day Secured Overnight Financing Rate | 07/16/27 | USD | 22656600 | (1011051) | (366230) |
| Put on 30-Year Interest Rate Swap | Barclays Bank PLC | 18.000% | Pay | 1-day Secured Overnight Financing Rate | 05/25/27 | USD | 53680100 | (9662418) | 875990 |
| Put on 30-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 4.650% | Pay | 1-day Secured Overnight Financing Rate | 08/30/27 | USD | 23070000 | (1075985) | (184820) |
|  |  |  |  |  |  |  |  | $(18057063) | $821135 |

---

At September 30, 2025, the following OTC written forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.160% | Pay | 1-day Secured Overnight Financing Rate | 09/23/27 | USD | 115350000 | $538685 | $31201 |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 2.500% | Pay | 1-day Secured Overnight Financing Rate | 09/25/26 | USD | 228586000 | 265160 | (8504) |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 2.000% | Pay | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | 228585000 | 240014 | 117328 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.133% | Pay | 1-day Secured Overnight Financing Rate | 08/27/27 | USD | 57675000 | 287654 | 42064 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.170% | Pay | 1-day Secured Overnight Financing Rate | 08/23/27 | USD | 57675000 | 291980 | 36582 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Pay | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 115350000 | 573866 | 22255 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Pay | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 57675000 | 288375 | 12482 |
| Put on 10-Year Interest Rate Swap | Barclays Bank PLC | 5.355% | Receive | 1-day Secured Overnight Financing Rate | 11/27/34 | USD | 22347000 | 404481 | (580071) |
| Put on 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 5.540% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 20819720 | 874428 | (107168) |
| Put on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.160% | Receive | 1-day Secured Overnight Financing Rate | 09/23/27 | USD | 115350000 | 538684 | (41404) |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Description** | <br>**Counterparty** | <br>**Exercise**<br>**Rate<sup>(3)</sup>** | **Pay/**<br>**Receive**<br>**Exercise**<br>**Rate** | <br>**Floating Rate**<br>**Index** | <br>**Expiration**<br>**Date** | **Amount** | **Amount** | **Premium**<br>**receivable/**<br>**(payable)**<br>**at expiration<sup>(4)</sup>** |<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Put on 1-Year Interest Rate Swap | Goldman Sachs International | 2.150% | Receive | 3-month EUR-EURIBOR | 07/21/26 | EUR | 221067000 | $316644 | $45085 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.600% | Receive | 1-day Secured Overnight Financing Rate | 08/30/27 | USD | 415260000 | 1183491 | (88734) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.133% | Receive | 1-day Secured Overnight Financing Rate | 08/27/27 | USD | 57675000 | 287654 | (2582) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.170% | Receive | 1-day Secured Overnight Financing Rate | 08/23/27 | USD | 57675000 | 291980 | 13014 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Receive | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 115350000 | 573866 | 64579 |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.250% | Receive | 1-day Secured Overnight Financing Rate | 08/12/27 | USD | 57675000 | 288375 | 33644 |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.631% | Receive | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | &nbsp;&nbsp;&nbsp;&nbsp;228585000 | &nbsp;&nbsp;&nbsp;&nbsp;217156 | &nbsp;&nbsp;&nbsp;&nbsp;(59632) |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.622% | Receive | 1-day Secured Overnight Financing Rate | 09/08/26 | USD | &nbsp;&nbsp;&nbsp;&nbsp;114293000 | &nbsp;&nbsp;&nbsp;&nbsp;108578 | &nbsp;&nbsp;&nbsp;&nbsp;(32365) |
|  |  |  |  |  |  |  |  | $7571071 | $(502226) |

---

<sup>(1)</sup> Fund pays the exercise rate semi-annually and receives the floating rate index quarterly.

<sup>(2)</sup> Fund receives the exercise rate semi-annually and pays the floating rate index quarterly.

<sup>(3)</sup> Forward premium swaption exercise rates represent the premium price on each respective swaption contract. Final exercise rate will be determined at the expiration of each respective swaption contract.

<sup>(4)</sup> Forward premium swaptions include premiums receivable/(payable) that have extended settlement dates. Premiums are not exchanged until the expiration date of each respective forward premium swaption contract.

The following sales commitments were held by the Voya Strategic Income Opportunities Fund at September 30, 2025:

---

| | | | |
|:---|:---|:---|:---|
|<br>**Principal Amount** | <br>**Description** | **Contractual**<br>**Settlement Date** |<br>**Fair Value** |
| $(46700000) | Ginnie Mae, 6.500%, due 10/15/55 | 10/20/25 | $(47904780) |
| (2133000) | Uniform Mortgage-Backed Securities, 3.000%, due 10/01/55 | 10/14/25 | (1873870) |
| (4487000) | Uniform Mortgage-Backed Securities, 3.500%, due 10/01/55 | 10/14/25 | (4100021) |
| (8892000) | Uniform Mortgage-Backed Securities, 4.000%, due 10/01/55 | 10/14/25 | (8381571) |
| (25000000) | Uniform Mortgage-Backed Securities, 6.500%, due 10/15/55 | 10/14/25 | (25834592) |
|  | Total Sales Commitments |  |  |
|  | Proceeds receivable $(88315520) |  | $(88094834) |

---

---

| | |
|:---|:---|
| Currency Abbreviations: | Currency Abbreviations: |
| BRL | Brazilian Real |
| COP | Colombian Peso |
| EUR | EU Euro |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| PEN | Peruvian Nuevo Sol |
| TRY | Turkish Lira |
| USD | United States Dollar |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** | **Location on Statement**<br>**of Assets and Liabilities** |<br>**Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Credit Contracts | Investments in securities at value<sup>\*</sup> | $4492 |
| Foreign exchange contracts | Investments in securities at value<sup>\*</sup> | 62887 |
| Interest rate contracts | Investments in securities at value<sup>\*</sup> | 87885 |
| Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 416688 |
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 2172868 |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*\*</sup> | 319453 |
| Credit contracts | Variation margin receivable on centrally cleared swaps<sup>\*\*</sup> | 77911 |
| Interest rate contracts | Variation margin receivable on centrally cleared swaps<sup>\*\*</sup> | 179566 |
| Foreign exchange contracts | Unrealized appreciation on OTC swap agreements | 902930 |
| Interest rate contracts | Unrealized appreciation on OTC swap agreements | 5257795 |
| **Total Asset Derivatives** |  | $9482475 |
| **<u>Liability Derivatives</u>** |  |  |
| Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $6187765 |
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | 1853959 |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*\*</sup> | 2166196 |
| Interest rate contracts | Variation margin payable on centrally cleared swaps<sup>\*\*</sup> | 1073786 |
| Interest rate contracts | Upfront payments received on OTC swap agreements | 9195 |
| Foreign exchange contracts | Unrealized depreciation on OTC swap agreements | 96984 |
| Credit contracts | Written options, at fair value | 488037 |
| Foreign exchange contracts | Written options, at fair value | 23118 |
| Interest rate contracts | Written options, at fair value | 44091 |
| **Total Liability Derivatives** |  | $11943131 |

---

\* Includes purchased options.

\*\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and centrally cleared swaps and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging**<br>**instruments** |<br><br>**Investments<sup>\*</sup>** | **Forward**<br>**foreign**<br>**currency**<br>**contracts** |<br><br>**Futures** |<br><br>**Swaps** |<br>**Written**<br>**options** |<br><br>**Total** |
| Credit contracts | $— | $— | $— | $(602113) | $— | $(602113) |
| Foreign exchange contracts | 78530 | (3728951) |  | 91845 | 1180732 | (2377844) |
| Interest rate contracts | 443482 |  | 266345 | (392217) | 3310218 | 3627828 |
| **Total** | $522012 | $(3728951) | $266345 | $(902485) | $4490950 | $647871 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging**<br>**instruments** |<br><br>**Investments<sup>\*</sup>** | **Forward**<br>**foreign**<br>**currency**<br>**contracts** |<br><br>**Futures** |<br><br>**Swaps** |<br>**Written**<br>**options** |<br><br>**Total** |
| Credit contracts | $(213849) | $— | $— | $(257696) | $585909 | $114364 |
| Foreign exchange contracts | (291436) | (5602170) |  | 399346 | 20962 | (5473297) |
| Interest rate contracts | (2402203) |  | (1885098) | 5103870 | 843226 | 1659795 |
| **Total** | $(2907488) | $(5602170) | $(1885098) | $5245520 | $1450097 | $(3699139) |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS <br> As of September 30, 2025 (Unaudited) (continued)

------

<sup>\*</sup> Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments.

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at September 30, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |<br>**Bank of**<br>**America N.A.** |<br>**Barclays Bank**<br>**PLC** |<br><br>**BNP Paribas** |<br><br>**Citibank N.A.** |<br>**Deutsche**<br>**Bank AG** |<br>**Goldman**<br>**Sachs**<br>**International** |<br>**HSBC Bank**<br>**USA N.A.** |<br>**JPMorgan**<br>**Chase Bank**<br>**N.A.** | **Morgan**<br>**Stanley**<br>**Capital**<br>**Services LLC** | **Nomura**<br>**Global**<br>**Financial**<br>**Products Inc.** |
| **Assets:** |  |  |  |  |  |  |  |  |  |  |
| Purchased options | $— | $— | $— | $1675 | $— | $62886 | $— | $— | $90703 | $— |
| Forward foreign currency contracts |  |  | 12191 |  |  | 404497 |  |  |  |  |
| Forward premium swaptions | 135137 | 1619497 |  |  | 148529 | 45085 |  | 224620 |  |  |
| OTC total return swaps |  |  |  |  |  |  |  |  | 5248600 |  |
| OTC volatility swaps | 180694 |  |  |  |  | 315736 |  |  | 406500 |  |
| **Total Assets** | $315831 | $1619497 | $12191 | $1675 | $148529 | $828204 | $— | $224620 | $5745803 | $— |
| **Liabilities:** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency contracts | $— | $176 | $— | $— | $410380 | $4927480 | $410554 | $— | $160792 | $— |
| Forward premium swaptions | 366230 | 580071 |  |  | 49908 |  |  | 765753 |  | 91997 |
| OTC volatility swaps |  |  | 96984 |  |  |  |  |  |  |  |
| Written options |  |  | 117442 | 192349 | 13917 | 95197 |  |  | 53509 |  |
| **Total Liabilities** | $366230 | $580247 | $214426 | $192349 | $474205 | $5022677 | $410554 | $765753 | $214301 | $91997 |
| **Net OTC derivative instruments by** |  |  |  |  |  |  |  |  |  |  |
| **counterparty, at fair value** | $(50399) | $1039250 | $(202235) | $(190674) | $(325676) | $(4194473) | $(410554) | $(541133) | $5531502 | $(91997) |
| **Total collateral pledged by the Fund/** |  |  |  |  |  |  |  |  |  |  |
| **(Received from counterparty)** | $— | $(720000) | $130000 | $190674 | $200000 | $3890000 | $410554 | $520000 | $(5050000) | $— |
| **Net Exposure<sup>(1),(2)</sup>** | $(50399) | $319250 | $(72235) | $— | $(125676) | $(304473) | $— | $(21133) | $481502 | $(91997) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |<br>**Royal Bank of**<br>**Canada** | **Standard**<br>**Chartered**<br>**Bank** |<br>**Wells Fargo**<br>**Bank N.A.** |<br>**Total** |
| **Assets:** |  |  |  |  |
| Purchased options | $— | $— | $— | $155264 |
| Forward foreign currency contracts |  |  |  | 416688 |
| Forward premium swaptions |  |  |  | 2172868 |
| OTC total return swaps |  |  |  | 5248600 |
| OTC volatility swaps |  |  |  | 902930 |
| **Total Assets** | $— | $— | $— | $8896350 |
| **Liabilities:** |  |  |  |  |
| Forward foreign currency contracts | $— | $38056 | $240327 | $6187765 |
| Forward premium swaptions |  |  |  | 1853959 |
| OTC volatility swaps |  |  |  | 96984 |
| Written options | 82832 |  |  | 555246 |
| **Total Liabilities** | $82832 | $38056 | $240327 | $8693954 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(82832) | $(38056) | $(240327) | $202396 |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $— | $— | $— | $(428772) |
| **Net Exposure<sup>(1),(2)</sup>** | $(82832) | $(38056) | $(240327) | $(226376) |

---

<sup>(1)</sup> Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features.

<sup>(2)</sup> At September 30, 2025, the Fund had pledged $130,000, $260,000, $200,000, $3,890,000, $420,000 and $520,000 to BNP Paribas, Citibank N.A., Deutsche Bank AG, Goldman Sachs International, HSBC Bank USA N.A. and JPMorgan Chase Bank N.A., respectively. In addition, the Fund had received $720,000 and $5,050,000 from Barclays Bank PLC and Morgan Stanley Capital Services LLC, respectively. Excess cash collateral is not shown for financial reporting purposes.

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $2,196,157,256.

---

| | |
|:---|:---|
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $43622898 |
| Gross Unrealized Depreciation | (63069062) |
| Net Unrealized Depreciation | $(19446164) |

---

See Accompanying Notes to Financial Statements

---

| | |
|:---|:---|
| **Investment Adviser** | **Custodian** |
| Voya Investments, LLC | The Bank of New York Mellon |
| 7337 East Doubletree Ranch Road, Suite 100 | 225 Liberty Street |
| Scottsdale, Arizona 85258 | New York, New York 10286 |
| **Distributor** | **Legal Counsel** |
| Voya Investments Distributor, LLC | Ropes & Gray LLP |
| 7337 East Doubletree Ranch Road, Suite 100 | Prudential Tower |
| Scottsdale, Arizona 85258 | 800 Boylston Street |
|  | Boston, Massachusetts 02199 |
| **Transfer Agent** |  |
| BNY Mellon Investment Servicing (U.S.) Inc. |  |
| 103 Bellevue Parkway |  |
| Wilmington, Delaware 19809 |  |

---

**For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.**

**163313 (0925)**

![](tm2530932d1_gvtmymktfin1.jpg)

Semi-Annual Financial Statements and Other Information

**September 30, 2025**

**Voya Government Money Market Fund**

**Classes A, C, I, R6 and W**

&nbsp;&nbsp;This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds' investment objectives, risks, charges, expenses and other information. This information should be read carefully.<br>

&nbsp;&nbsp;&nbsp;&nbsp;![](tm2530932d1_gvtmymktfin2.jpg)E-Delivery Sign-up – details inside

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| | |
|:---|:---|
| **INVESTMENT MANAGEMENT**<br>**voyainvestments.com** | ![](tm2530932d1_gvtmymktfin3.jpg) |

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| [Statement of Assets and Liabilities](#c001) | [1](#c001) |
| [Statement of Operations](#s_001) | [3](#s_001) |
| [Statements of Changes in Net Assets](#c003) | [4](#c003) |
| [Financial Highlights](#s_002) | [5](#s_002) |
| [Notes to Financial Statements](#s_003) | [7](#s_003) |
| [Portfolio of Investments](#s_004) | [14](#s_004) |

---

---

| |
|:---|
| &nbsp;&nbsp;**Go Paperless with E-Delivery!** |
| &nbsp;&nbsp;Sign up now for on-line prospectuses, tailored shareholder reports, and proxy statements. |
| &nbsp;&nbsp;Just go to individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll. |
| &nbsp;&nbsp;You will be notified by e-mail when these communications become available on the internet. |

---

**PROXY VOTING INFORMATION**

A description of the policies and procedures that the Fund uses to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; and (2) on the U.S. Securities and Exchange Commission's ("SEC's") website at www.sec.gov. Information regarding how the Fund voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Fund's website at https://individuals.voya.com and on the SEC's website at www.sec.gov.

**PORTFOLIO HOLDINGS**

The Fund files its complete schedule of portfolio holdings with the SEC monthly on Form N-MFP. The Fund's Forms N-MFP are available on the SEC's website at www.sec.gov or the monthly schedule of portfolio holdings are also available at: https://individuals.voya.come/product/mutual-fund/prospectuses-reports and without charge upon request from the Fund by calling Shareholder Services toll-free at (800) 992-0180.

**Please note that your investment: is not a bank deposit, is not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC"), the Federal Reserve Board or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. There is no guarantee that the Fund will achieve its investment objective. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.**

STATEMENT OF ASSETS AND LIABILITIES as of September 30, 2025 (Unaudited)

---

| | |
|:---|:---|
| **ASSETS:** | |
| Short-term investments at amortized cost | $347457777 |
| Repurchase agreements | 176898000 |
| Cash | 10629492 |
| Receivables: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 10592886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 362575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | 463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 1034209 |
| Prepaid expenses | 60963 |
| Reimbursement due from Investment Adviser | 46318 |
| Other assets | 25177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 547107860 |
| **LIABILITIES:** |  |
| Income distribution payable | 1357 |
| Payable for investment securities purchased | 112580124 |
| Payable for fund shares redeemed | 3687139 |
| Payable for investment management fees | 129276 |
| Payable for distribution and shareholder service fees | 1908 |
| Payable to trustees under the deferred compensation plan (Note 5) | 25177 |
| Payable for trustee fees | 1093 |
| Other accrued expenses and liabilities | 140382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 116566456 |
| **NET ASSETS** | $430541404 |
| **NET ASSETS WERE COMPRISED OF:** |  |
| Paid-in capital | $430542107 |
| Total distributable loss | (703) |
| **NET ASSETS** | $430541404 |

---

See Accompanying Notes to Financial Statements

STATEMENT OF ASSETS AND LIABILITIES as of September 30, 2025 (Unaudited) (continued)

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $354910346 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 354905698 |
| Net asset value and redemption price per share† | $1.00 |
| **Class C** |  |
| Net assets | $2323582 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 2323556 |
| Net asset value and redemption price per share† | $1.00 |
| **Class I** |  |
| Net assets | $60863736 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 60863061 |
| Net asset value and redemption price per share | $1.00 |
| **Class R6** |  |
| Net assets | $7145506 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 7145426 |
| Net asset value and redemption price per share | $1.00 |
| **Class W** |  |
| Net assets | $5298234 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 5298174 |
| Net asset value and redemption price per share | $1.00 |

---

† Redemption
 price per share may be reduced for any applicable
contingent deferred sales charges.

See Accompanying Notes to Financial Statements

STATEMENT OF OPERATIONS for the period ended September 30, 2025 (Unaudited)

---

| | |
|:---|:---|
| **INVESTMENT INCOME:** | |
| Dividends | $14870 |
| Interest | 9563247 |
| Other | 1246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 9579363 |
| **EXPENSES:** |  |
| Investment management fees | 766975 |
| Distribution and shareholder service fees: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 11933 |
| Transfer agent fees: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 148867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 5202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 2542 |
| Shareholder reporting expense | 6327 |
| Registration fees | 65628 |
| Professional fees | 29790 |
| Custody and accounting expense | 12756 |
| Trustee fees | 5463 |
| Miscellaneous expense | 19608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 1076214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (286811) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 789403 |
| Net investment income | 8789960 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |
| Net realized gain on investments | 136589 |
| **Increase in net assets resulting from operations** | $8926549 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended**<br>**September 30, 2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31, 2025** |
| **FROM OPERATIONS:** | | |
| Net investment income | $8789960 | $17550882 |
| Net realized gain | 136589 | 244053 |
| Increase in net assets resulting from operations | 8926549 | 17794935 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| Total distributions (excluding return of capital): |  |  |
| &nbsp;&nbsp;&nbsp;Class A | (7227480) | (14330320) |
| &nbsp;&nbsp;&nbsp;Class C | (36756) | (81158) |
| &nbsp;&nbsp;&nbsp;Class I | (1415469) | (2916036) |
| &nbsp;&nbsp;&nbsp;Class R6 | (123202) | (98703) |
| &nbsp;&nbsp;&nbsp;Class W | (123383) | (355462) |
| Total distributions | (8926290) | (17781679) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |
| Net proceeds from sale of shares | 833716363 | 1636193747 |
| Reinvestment of distributions | 8906387 | 17705527 |
|  | 842622750 | 1653899274 |
| Cost of shares redeemed | (836464700) | (1567924744) |
| Net increase in net assets resulting from capital share transactions | 6158050 | 85974530 |
| Net increase in net assets | 6158309 | 85987786 |
| **NET ASSETS:** |  |  |
| Beginning of year or period | 424383095 | 338395309 |
| End of year or period | $430541404 | $424383095 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each year or period.

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) <br> from investment<br> operations** | **Income (loss) <br> from investment<br> operations** | **Income (loss) <br> from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | | **Supplemental<br> Data** | **Supplemental<br> Data** |
|  | <br>Net asset value, beginning of year or period | Net investment income (loss) |  | Net realized and unrealized gain (loss) | <br>Total from investment operations | From net investment income | From net realized gains | From return of capital | <br>Total distributions | <br>Payment by affiliate | <br>Net asset value, end of year or period | <br>**Total Return<sup>(1)</sup>** | Expenses<br> before reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses net of fee waivers and/or recoupments if any<sup>(2)(3)</sup> | Expenses <br> net of all<br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net investment income (loss)<sup>(2)(3)</sup> |  | Net assets, end of year or period | Portfolio turnover rate |
| Year or <br> period ended | ($) | ($) |  | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) |  | ($000's) | (%) |
| **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** | **Class A** |
| 09-30-25+ | 1.00 | 0.02 | <sup>•</sup> |  | 0.02 | 0.02 | 0.00 \* |  | 0.02 |  | 1.00 | **2.06** | 0.50 | 0.35<sup>(4)</sup> | 0.35 | 4.02 |  | 354910 |  |
| 03-31-25 | 1.00 | 0.05 | <sup>•</sup> |  | 0.05 | 0.05 | 0.00 \* |  | 0.05 |  | 1.00 | **4.74** | 0.51 | 0.35<sup>(4)</sup> | 0.35 | 4.54 |  | 346682 |  |
| 03-31-24 | 1.00 | 0.05 | <sup>•</sup> | 0.00 \* | 0.05 | 0.05 |  |  | 0.05 |  | 1.00 | **5.04** | 0.57 | 0.39<sup>(5)</sup> | 0.39 | 4.93 |  | 265846 |  |
| 03-31-23 | 1.00 | 0.03 |  | (0.01) | 0.02 | 0.02 |  |  | 0.02 |  | 1.00 | **2.48** | 0.62 | 0.39<sup>(6)</sup> | 0.39 | 2.63 |  | 217392 |  |
| 03-31-22 | 1.00 | (0.00) |)\*<sup>•</sup> | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.09** | 0.64 | 0.05<sup>(7)</sup> | 0.05 | (0.00) |)\* | 156626 |  |
| 03-31-21 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.04** | 0.68 | 0.11<sup>(8)</sup> | 0.11 | 0.01 |  | 156808 |  |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 09-30-25+ | 1.00 | 0.02 | <sup>•</sup> |  | 0.02 | 0.02 | 0.00 \* |  | 0.02 |  | 1.00 | **1.56** | 1.50 | 1.35<sup>(4)</sup> | 1.35 | 3.02 |  | 2324 |  |
| 03-31-25 | 1.00 | 0.04 | <sup>•</sup> |  | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.70** | 1.51 | 1.35<sup>(4)</sup> | 1.35 | 3.60 |  | 2202 |  |
| 03-31-24 | 1.00 | 0.04 | <sup>•</sup> | 0.00 \* | 0.04 | 0.04 |  |  | 0.04 |  | 1.00 | **3.99** | 1.57 | 1.39<sup>(5)</sup> | 1.39 | 3.92 |  | 2116 |  |
| 03-31-23 | 1.00 | 0.02 | <sup>•</sup> | 0.00 \* | 0.02 | 0.02 |  |  | 0.02 |  | 1.00 | **1.63** | 1.62 | 1.23<sup>(6)</sup> | 1.23 | 1.62 |  | 2220 |  |
| 03-31-22 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.09** | 1.64 | 0.05<sup>(7)</sup> | 0.05 | 0.00 | \* | 2015 |  |
| 03-31-21 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.03** | 1.68 | 0.11<sup>(8)</sup> | 0.11 | 0.01 |  | 2321 |  |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 09-30-25+ | 1.00 | 0.02 | <sup>•</sup> |  | 0.02 | 0.02 | 0.00 \* |  | 0.02 |  | 1.00 | **2.06** | 0.43 | 0.35<sup>(4)</sup> | 0.35 | 4.02 |  | 60864 |  |
| 03-31-25 | 1.00 | 0.05 | <sup>•</sup> |  | 0.05 | 0.05 | 0.00 \* |  | 0.05 |  | 1.00 | **4.74** | 0.47 | 0.35<sup>(4)</sup> | 0.35 | 4.58 |  | 65537 |  |
| 03-31-24 | 1.00 | 0.05 | <sup>•</sup> | 0.00 \* | 0.05 | 0.05 |  |  | 0.05 |  | 1.00 | **5.04** | 0.48 | 0.39<sup>(5)</sup> | 0.39 | 4.93 |  | 58966 |  |
| 03-31-23 | 1.00 | 0.03 |  | (0.01) | 0.02 | 0.02 |  |  | 0.02 |  | 1.00 | **2.48** | 0.49 | 0.39<sup>(6)</sup> | 0.39 | 2.63 |  | 56466 |  |
| 03-31-22 | 1.00 | (0.00) |)\*<sup>•</sup> | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.09** | 0.50 | 0.05<sup>(7)</sup> | 0.05 | (0.00) |)\* | 41745 |  |
| 03-31-21 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.03** | 0.57 | 0.11<sup>(8)</sup> | 0.11 | 0.01 |  | 45260 |  |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 09-30-25+ | 1.00 | 0.02 | <sup>•</sup> |  | 0.02 | 0.02 | 0.00 \* |  | 0.02 |  | 1.00 | **2.06** | 0.42 | 0.35<sup>(4)</sup> | 0.35 | 4.02 |  | 7146 |  |
| 06-11-24<sup>(9)</sup>- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-25 | 1.00 | 0.03 | <sup>•</sup> | 0.01 | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.71** | 0.41 | 0.35<sup>(4)</sup> | 0.35 | 4.18 |  | 3454 |  |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 09-30-25+ | 1.00 | 0.02 | <sup>•</sup> |  | 0.02 | 0.02 | 0.00 \* |  | 0.02 |  | 1.00 | **2.06** | 0.50 | 0.35<sup>(4)</sup> | 0.35 | 4.02 |  | 5298 |  |
| 03-31-25 | 1.00 | 0.05 | <sup>•</sup> |  | 0.05 | 0.05 | 0.00 \* |  | 0.05 |  | 1.00 | **4.74** | 0.51 | 0.35<sup>(4)</sup> | 0.35 | 4.65 |  | 6508 |  |
| 03-31-24 | 1.00 | 0.05 | <sup>•</sup> | 0.00 \* | 0.05 | 0.05 |  |  | 0.05 |  | 1.00 | **5.04** | 0.57 | 0.39<sup>(5)</sup> | 0.39 | 4.99 |  | 11467 |  |
| 03-31-23 | 1.00 | 0.03 | <sup>•</sup> | (0.01) | 0.02 | 0.02 |  |  | 0.02 |  | 1.00 | **2.50** | 0.62 | 0.39<sup>(6)</sup> | 0.39 | 3.37 |  | 1232 |  |
| 03-31-22 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.09** | 0.64 | 0.05<sup>(7)</sup> | 0.05 | 0.00 | \* | 173 |  |
| 03-31-21 | 1.00 | 0.00 | \*<sup>•</sup> | 0.00 \* | 0.00 \* | 0.00 \* | 0.00 \* |  | 0.00 \* |  | 1.00 | **0.04** | 0.68 | 0.11<sup>(8)</sup> | 0.11 | 0.01 |  | 386 |  |

---

<sup>(1)</sup> Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and excluding the deduction of sales charges or contingent deferred sales charges, if applicable. Total return for periods less than one year is not annualized.

<sup>(2)</sup> Annualized for periods less than one year.

<sup>(3)</sup> Ratios reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of all such additions or reductions.

<sup>(4)</sup> Expense ratios reflect waivers of 0.00%, 0.00%, 0.00%, 0.00% and 0.00% of management fees, distribution and shareholder servicing fees for Classes A, C, I, R6 and W, respectively, in order to maintain a net yield of not less than zero.

<sup>(5)</sup> Expense ratios reflect waivers of 0.00%, 0.00%, 0.00% and 0.00% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero.

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

<sup>(6)</sup> Expense ratios reflect waivers of 0.01%, 0.18%, 0.01% and 0.01% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero.

<sup>(7)</sup> Expense ratios reflect waivers of 0.35%, 1.35%, 0.35% and 0.35% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero.

<sup>(8)</sup> Expense ratios reflect waivers of 0.30%, 1.30%, 0.30% and 0.30% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero.

<sup>(9)</sup> Commencement of operations.

---

| | |
|:---|:---|
| <sup>+</sup> | Unaudited. |
| <sup>•</sup> | Calculated using average number of shares outstanding throughout the year or period. |
| <sup>\*</sup> | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |

---

See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited)

**NOTE 1** — **ORGANIZATION**

Voya Funds Trust (the "Trust") is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended ("1940 Act"). The Trust was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for Voya Government Money Market Fund ("Government Money Market" or the "Fund"), a diversified series of the Trust.

The Fund offers the following classes of shares: Class A, Class C, Class I, Class R6 and Class W. The separate classes of shares differ principally in the applicable sales charges (if any), distribution fees and shareholder servicing fees, as well as differences in the amount of waiver fees and reimbursement of expenses, if any. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a fund and earn income and realized gains/losses from a fund *pro rata* based on the daily ending net assets of each class, without discrimination between share classes. Expenses that are specific to a fund or a class are charged directly to that fund or class. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets. Dividends are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class *pro rata* based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from the differences in separate class expenses, including distribution and shareholder servicing fees, if applicable, as well as differences in the amount of waiver of fees and reimbursement of expenses between the share classes, if any.

Class C shares, along with their *pro rata* reinvested dividend shares, automatically convert to Class A shares 8 years after purchase.

Voya Investments, LLC ("Voya Investments" or the "Investment Adviser"), an Arizona limited liability company, serves as the Investment Adviser to the Fund. Voya Investment Management Co. LLC ("Voya IM"), a Delaware limited liability company, serves as the sub-adviser to the Fund. Voya Investments Distributor, LLC ("VID" or the "Distributor"), a Delaware limited liability company, serves as the principal underwriter to the Fund.

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES**

The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board

("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.

The following significant accounting policies are consistently followed by the Fund in the preparation of its financial statements. The Fund is considered an investment company under U.S. generally accepted accounting principles ("GAAP") and follows the accounting and reporting guidance applicable to investment companies.

A. ***Security Valuation***. The Fund is open for business every day the New York Stock Exchange ("NYSE") opens for regular trading (each such day, a "Business Day"). The net asset value ("NAV") per share for each class of the Fund is determined each Business Day as of the close of the regular trading session ("Market Close"), as determined by the Consolidated Tape Association ("CTA"), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each class of the Fund is calculated by taking the value of the Fund's assets attributable to that class, subtracting the Fund's liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when the Fund is closed for business, Fund shares will not be priced and the Fund does not transact purchase and redemption orders. To the extent the Fund's assets are traded in other markets on days when the Fund does not price its shares, the value of the Fund's assets will likely change and you will not be able to purchase or redeem shares of the Fund.

The Fund uses the amortized cost method to value its portfolio securities and seeks to maintain a constant NAV of $1.00 per share, although there may be circumstances under which this goal cannot be achieved. The amortized cost method involves valuing a security at its cost and amortizing any discount or premium over the period until maturity, regardless of the impact of fluctuating interest rates or the market value of the security. Although the Fund's Board of Trustees ("Board") has established procedures designed to stabilize, to the extent reasonably possible, the share price of the Fund, there can be no assurance that the Fund's NAV can be maintained at $1.00 per share.

Each investment asset or liability of the Fund is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as "Level 1," inputs other than quoted prices for an asset or liability that are observable are classified as "Level 2" and significant unobservable inputs, including the sub-adviser's or pricing committee's judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as "Level 3." The inputs used for valuing securities are not necessarily an indication of the risks associated

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing the Fund's investments under these levels of classification is included within the Portfolio of Investments.

The Board has delegated to the Investment Adviser responsibility for overseeing the implementation of the Fund's valuation procedures. The Board has also designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of the Fund's assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or the Fund's sub-adviser(s).

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of investments is presented only when the Fund has a significant amount of Level 3 investments.

B. ***Securities Transactions and Revenue Recognition.*** Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis. Premium amortization and discount accretion are determined by the effective yield method.

C. ***Distributions to Shareholders.*** The Fund records distributions to its shareholders on the ex-dividend date. Dividends are declared daily from net investment income and paid monthly. The Fund distributes capital gains, if any, annually. The Fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from U.S. GAAP for investment companies.

D. ***Federal Income Taxes.*** It is the policy of the Fund to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a U.S. federal income tax or excise tax provision is not required. Management has considered the sustainability of the Fund's tax positions taken on U.S.

federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.

The Fund may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

E. ***Use of Estimates.*** The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

F. ***Repurchase Agreements.*** The Fund may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is generally short, from overnight to one week (although it may extend over a number of months), while the underlying securities generally have longer maturities. The Fund will receive, as collateral, securities acceptable to it whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by the Fund. The underlying collateral is valued daily on a mark to market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to the Fund in the event the Fund is delayed or prevented from exercising its right to dispose of the collateral, and it might incur disposition costs in liquidating the collateral.

Repurchase agreements are entered into by the Fund under Master Repurchase Agreements ("MRA") which permit the Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables or payables under the MRA with collateral held and/or pledged by the counterparty and create one single net payment due to or from the Fund.

Please refer to the table within the Portfolio of Investments for open repurchase agreements subject to the MRA on a net basis at September 30, 2025.

G. ***Restricted Securities.*** The Fund may invest in restricted securities which include those sold under Rule 144A of the Securities Act of 1933, as amended ("1933 Act") ("Rule 144A") or securities offered pursuant to Section 4(a)(2)

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

Securities that are legally restricted as to resale (such as those issued in private placements), including securities governed by Rule 144A and Regulation S under the 1933 Act, and securities that are offered in reliance on Section 4(a)(2) of the 1933 Act are referred to as "restricted securities." Restricted securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed on an exchange nor traded in other established markets. Due to the absence of a public trading market, restricted securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.

H. ***Indemnifications.*** In the normal course of business, the Trust may enter into contracts that provide certain indemnifications. The Trust's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.

**NOTE 3 — INVESTMENT MANAGEMENT FEES**

The Fund has entered into an investment management agreement ("Management Agreement") with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Fund. The Investment Adviser oversees all investment advisory and portfolio management services for the Fund and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, at an annual rate of 0.35% of the Fund's average daily net assets.

The Investment Adviser has entered into a sub-advisory agreement with Voya IM. Voya IM provides investment advice for the Fund and is paid by the Investment Adviser based on the average daily net assets of the Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Fund's assets in accordance with the Fund's investment objectives, policies, and limitations.

**NOTE 4 — DISTRIBUTION AND SERVICE FEES**

Class C shares of the Fund have a service and distribution plan (the "Plan"), whereby the Distributor is paid an annual fee at the rate of 1.00% for Class C shares of the value of average daily net assets of the class for expenses incurred in the distribution and/or shareholder servicing of the Fund's Class C shares. Pursuant to the Plan, the Distributor is entitled to a payment each month for the distribution and promotion of the Fund's Class C shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any distribution or shareholder servicing fees paid to securities dealers who have executed a distribution agreement with the Distributor.

The Distributor and Investment Adviser have contractually agreed to waive a portion of their distribution and/or shareholder servicing fees and management fees, as applicable, and to reimburse certain expenses to the extent necessary to assist the Fund in maintaining a net yield of not less than zero through August 1, 2026. There is no guarantee the Fund will maintain such a yield. Distribution and shareholder servicing fees waived are not subject to recoupment. Management fees waived or expenses reimbursed are subject to possible recoupment by the Investment Adviser within three years subject to certain restrictions. For the period ended September 30, 2025, there were no waivers or reimbursements necessary to assist the Fund in maintaining a net yield of not less than zero.

Termination or modification of this obligation requires approval by the Board. Please note that these waivers or reimbursements are in addition to existing contractual expense limitations.

As of September 30, 2025, there are no waived and/or reimbursed fees subject to recoupment by the investment Adviser that related to assisting the Fund in maintaining a net yield of not less than zero.

The Distributor may also retain the proceeds of the contingent deferred sales charge paid by shareholders upon certain redemptions for Class C shares. For the period ended September 30, 2025, the Distributor retained the following amounts in sales charges:

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 4 — DISTRIBUTION AND SERVICE FEES (continued)**

---

| | |
|:---|:---|
|  | **Class C** |
| Initial Sales Charges: | $— |
| Contingent Deferred Sales Charges: | $598 |

---

**NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES**

At September 30, 2025, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the Fund:

---

| | |
|:---|:---|
| **Subsidiary** | **Percentage** |
| Voya Institutional Trust Company | 24.89% |
| Voya Investments Distributor, LLC | 7.72 |
| Voya Retirement Insurance and Annuity Company | 27.03 |

---

The Fund has adopted a deferred compensation plan (the "DC Plan"), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees' fees that they are entitled to receive from the Fund. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the "Notional Funds"). When the Fund purchases shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees' deferred fees, this results in a Fund asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of "Other assets" on the accompanying Statement of Assets and Liabilities. Deferral of trustees' fees under the DC Plan will not affect net assets of the Fund, and will not materially affect the Fund's assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

The Fund may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2025, the per account fees for affiliated recordkeeping services paid by the Fund were $126,926.

**NOTE 6 — EXPENSE LIMITATION AGREEMENT** 

Pursuant to written expense limitation agreement ("Expense Limitation Agreement") between the Investment Adviser and the Trust, on behalf of the Fund, the Investment Adviser has agreed to limit expenses of the Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, other expenses not incurred in the ordinary course of business, expenses of any counsel or other persons or services retained by the Fund's Board members who are not "interested persons," as that term is defined in the 1940 Act, and acquired fund fees and expenses to the levels listed below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Class A** | **Class C** | **Class I** | **Class R6** | **Class W** |
| 0.35% | 1.35% | 0.35% | 0.35% | 0.35% |

---

The Investment Adviser may at a later date recoup from the Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, the Fund's expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statement of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statement of Assets and Liabilities.

As of September 30, 2025, the amounts of waived and/or reimbursed fees that are subject to possible recoupment by the Investment Adviser, and the related expiration dates are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **September 30,** | **September 30,** | **September 30,** | |
| **2026** | **2027** | **2028** |<br>**Total** |
| $106066 | $141036 | $260587 | $507689 |

---

In addition to the above waived and/or reimbursed fees, the amount of class specific fees waived or reimbursed that are subject to possible recoupment by the Investment Adviser, and the related expiration dates as of September 30, 2025 are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September 30,** | |
|  | **2026** | **2027** | **2028** |<br>**Total** |
| Class A | $387979 | $360293 | $279758 |  |
| Class C | 3787 | 2973 | 1828 | 8588 |
| Class I | 20173 | 58047 | 9701 | 87921 |
| Class R6 |  | 1 | 192 | 193 |
| Class W | 7371 | 14436 | 4930 | 26737 |

---

The Expense Limitation Agreement is contractual through August 1, 2026 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.

**NOTE 7 — LINE OF CREDIT**

Effective June 10, 2025, the Fund, in addition to certain other funds managed by the Investment Adviser, entered into a 364-day unsecured committed revolving line of credit agreement (the "Credit Agreement") with The Bank of New York Mellon ("BNY") for an aggregate amount of $400,000,000 through June 9, 2026. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Fund or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2025, the predecessor line of credit was for an aggregate amount of

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 7 — LINE OF CREDIT (continued)**

$400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 9, 2025.

Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments

**NOTE 8 — CAPITAL SHARES**

Transactions in capital shares and dollars were as follows:

generally must be made within 60 days after the date of a revolving credit advance. During the period ended September 30, 2025, the Fund did not utilize the line of credit.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Shares**<br>**sold** | <br>**Shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | <br>**Net increase**<br>**(decrease) in**<br>**shares**<br>**outstanding** | <br>**Shares**<br>**sold** | **Proceeds**<br>**from**<br>**shares**<br>**issued in**<br>**merger** | <br>**Reinvestment**<br>**of**<br>**distributions** | <br>**Shares**<br>**redeemed** | <br>**Shares**<br>**converted** | <br>**Net increase**<br>**(decrease)** |
| <br>**Year or<br> period ended** | **#** | **#** | **#** | **#** | **#** | **#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 806082286 |  | 7210128 | (805064374) |  | 8228040 | 806082286 |  | 7210128 | (805064374) |  | 8228040 |
| 3/31/2025 | 1605921702 |  | 14260508 | (1539356512) |  | 80825698 | 1605921702 |  | 14260508 | (1539356512) |  | 80825698 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 388676 |  | 36492 | (303787) |  | 121381 | 388676 |  | 36492 | (303787) |  | 121381 |
| 3/31/2025 | 524391 |  | 80661 | (518499) |  | 86553 | 524391 |  | 80661 | (518499) |  | 86553 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 23035175 |  | 1413183 | (29121412) |  | (4673054) | 23035175 |  | 1413183 | (29121412) |  | (4673054) |
| 3/31/2025 | 21532320 |  | 2910192 | (17874537) |  | 6567975 | 21532320 |  | 2910192 | (17874537) |  | 6567975 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 4210225 |  | 123201 | (641674) |  | 3691752 | 4210225 |  | 123201 | (641674) |  | 3691752 |
| 6/11/2024<sup>(1)</sup>- |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2025 | 5565162 |  | 98705 | (2210194) |  | 3453673 | 5565162 |  | 98705 | (2210194) |  | 3453673 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 1 |  | 123383 | (1333453) |  | (1210069) | 1 |  | 123383 | (1333453) |  | (1210069) |
| 3/31/2025 | 2650172 |  | 355461 | (7965002) |  | (4959369) | 2650172 |  | 355461 | (7965002) |  | (4959369) |

---

(1) Commencement of operations

**NOTE 9 — FEDERAL INCOME TAXES**

The amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP for investment companies. These book/ tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital

accounts based on their U.S. federal tax-basis treatment; temporary differences are not reclassified.

Dividends paid by the Fund from net investment income and distributions of net realized short-term capital gains are, for U.S. federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

---

| | |
|:---|:---|
| **Year Ended<br> March 31, 2025** | **Year Ended<br> March 31, 2024** |
| **Ordinary<br> Income** | **Ordinary<br> Income** |
| $17781679 | $15563171 |

---

The tax-basis components of distributable earnings as of March 31, 2025, were:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed**<br>**Ordinary**<br>**Income** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |<br>**Other** | **Total**<br>**Distributable**<br>**Earnings/(Loss)** |
| $3032 | $(3) | $(3992) | $(963) |

---

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 9 — FEDERAL INCOME TAXES (continued)**

At March 31, 2025, the Fund did not have any capital loss carryforwards for U.S. federal income tax purposes.

The Fund's major tax jurisdictions are U.S. federal and Arizona state.

As of September 30, 2025, no provision for income tax is required in the Fund's financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Fund's federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.

**NOTE 10 — MARKET DISRUPTION AND GEOPOLITICAL RISK**

The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, trade disputes, tariffs and other restrictions on trade or economic sanctions, rapid technological developments (such as artificial intelligence technologies), and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of the Fund's investments, including beyond the Fund's direct exposure to Russian issuers or nearby geographic regions. Furthermore, a prolonged conflict between Hamas and Israel, and the potential expansion of the conflict in the surrounding areas and the involvement of other nations in such conflict, such as the Houthi movement's attacks on marine vessels in the Red Sea, could further destabilize the Middle East region and introduce new uncertainties in global markets, including the oil and natural gas markets. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks

and foreign (non-U.S.) banks have experienced financial difficulties and, in some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of the Fund's investments. Any of these occurrences could disrupt the operations of the Fund and of the Fund's service providers.

**NOTE 11 — SEGMENT REPORTING**

In November 2023, the FASB issued Accounting Standards Update ("ASU"), ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about segment expenses. Adoption of ASU 2023-07, impacts financial statement disclosure only and did not affect the Fund's financial position or operating results.

Topic 280 defines an operating segment as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the chief operating decision maker ("CODM") to assess performance and make resource allocation decisions. The Fund has one operating segment that derives its income from earnings on its investments. The Product Review Committee (the "Committee") of the Investment Adviser and its affiliates is deemed to be the CODM. The Committee is comprised of executive leaders and it reviews the operating results of the Fund holistically. The CODM considers changes in net assets from operations, expense ratios, total returns and fund composition to make resource allocation decisions. Detailed financial information regarding the Fund is disclosed within these financial statements with total assets

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 11 — SEGMENT REPORTING (continued)**

and liabilities disclosed on the Statement of Assets and Liabilities, investments held on the Portfolio of Investments, results of operations on the Statement of Operations and other information about the Fund's performance, including total return, portfolio turnover and expense ratios within the Financial Highlights.

**NOTE 12 — SUBSEQUENT EVENTS**

*Dividends.* Subsequent to September 30, 2025, the Fund declared dividends and distributions of:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Type** | **Per Share**<br>**Amount** | <br>**Payable Date** | <br>**Record Date** |
| Class A | NII | $0.0032 | November 3, 2025 | Daily |
| Class C | NII | $0.0024 | November 3, 2025 | Daily |
| Class I | NII | $0.0033 | November 3, 2025 | Daily |
| Class R6 | NII | $0.0033 | November 3, 2025 | Daily |
| Class W | NII | $0.0033 | November 3, 2025 | Daily |
| All Classes | STCG | $0.0001 | November 3, 2025 | October 30, 2025 |

---

NII – Net investment income

STCG – Short-term capital gain

The Fund has evaluated events occurring after the Statement of Assets and Liabilities date through the date that the financial statements were issued ("subsequent events") to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.

Voya Government Money Market Fund PORTFOLIO OF INVESTMENTS As of September 30, 2025 (Unaudited) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. TREASURY DEBT: 54.8%** | **U.S. TREASURY DEBT: 54.8%** |  |  |
| 17000000 <sup>(1)</sup> | United States Treasury Bill, 3.700%, 10/01/2026 | $16391900 | 3.8 |
| 86000000 <sup>(1)</sup> | United States Treasury Bill, 3.910%, 11/13/2025 | 85596660 | 19.9 |
| 126500000 <sup>(1)</sup> | United States Treasury Bill, 3.990%, 10/28/2025 | 126113675 | 29.3 |
| 8000000 <sup>(1)</sup> | United States Treasury Bill, 4.000%, 11/25/2025 | 7951197 | 1.8 |
|  |  | **236053432** | **54.8** |
|  | Total U.S. Treasury Debt |  |  |
|  | (Cost $236,053,432) | **236053432** | **54.8** |
| **U.S. GOVERNMENT AGENCY DEBT: 25.9%** | **U.S. GOVERNMENT AGENCY DEBT: 25.9%** |  |  |
| 11069000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.130%, (FEDL01 + 0.040%), 01/06/2026 | 11068764 | 2.6 |
| 9900000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.150%, (FEDL01 + 0.060%), 01/16/2026 | 9900187 | 2.3 |
| 4750000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.155%, (FEDL01 + 0.065%), 07/15/2026 | 4749881 | 1.1 |
| 10000000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.200%, (SOFRRATE + 0.040%), 04/10/2026 | 9998934 | 2.3 |
| 1000000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.240%, (FEDL01 + 0.150%), 04/24/2026 | 1000463 | 0.2 |
| 2000000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.245%, (FEDL01 + 0.155%), 09/16/2026 | 2001215 | 0.5 |
| 1500000 <sup>(2)</sup> | Federal Farm Credit Banks Funding Corp., 4.510%, (SOFRRATE + 0.350%), 11/25/2025 | 1500636 | 0.3 |
| 29000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.160%, (SOFRRATE + 0.000%), 10/10/2025 | 29000000 | 6.7 |
| 5000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.160%, (SOFRRATE + 0.000%), 10/14/2025 | 5000004 | 1.2 |
| 5000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.165%, (SOFRRATE + 0.005%), 10/22/2025 | 5000000 | 1.1 |
| 5000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.170%, (SOFRRATE + 0.010%), 02/11/2026 | 5000000 | 1.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY DEBT: (continued)** | **U.S. GOVERNMENT AGENCY DEBT: (continued)** | **U.S. GOVERNMENT AGENCY DEBT: (continued)** |  |  |
| 5000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.180%, (SOFRRATE + 0.020%), 01/20/2026 | $| 5000000 | 1.2 |
| 1000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.220%, (SOFRRATE + 0.060%), 08/11/2026 |  | 1000000 | 0.2 |
| 8500000 <sup>(2)</sup> | Federal Home Loan Banks, 4.225%, (SOFRRATE + 0.065%), 08/10/2026 |  | 8500000 | 2.0 |
| 2000000 <sup>(2)</sup> | Federal Home Loan Banks, 4.240%, (SOFRRATE + 0.110%), 04/10/2026 |  | 2000502 | 0.5 |
| 9350000 <sup>(2)</sup> | Federal Home Loan Banks, 4.290%, (SOFRRATE + 0.160%), 10/20/2025 |  | 9350423 | 2.2 |
| 1333333 <sup>(2)</sup> | Federal Home Loan Banks, 4.300%, (SOFRRATE + 0.140%), 07/22/2026 |  | 1333336 | 0.3 |
|  |  |  | **111404345** | **25.9** |
|  | Total U.S. Government Agency Debt |  |  |  |
|  | (Cost $111,404,345) |  | **111404345** | **25.9** |
| **U.S. TREASURY REPURCHASE AGREEMENTS: 41.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 41.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 41.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 41.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 41.1%** |
| 102148000 | Deutsche Bank, Repurchase Agreement dated 09/30/2025, 4.180%, due 10/01/2025 $102,159,861 to be received upon repurchase (Collateralized by $103,653,435, various U.S. Treasury Bonds, 3.625%, Market Value plus accrued interest $104,191,003 due 8/15/2043) |  | 102148000 | 23.7 |

---

See Accompanying Notes to Financial Statements

Voya Government Money Market Fund PORTFOLIO OF INVESTMENTS As of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **U.S. TREASURY REPURCHASE AGREEMENTS: (continued)** | **U.S. TREASURY REPURCHASE AGREEMENTS: (continued)** | **U.S. TREASURY REPURCHASE AGREEMENTS: (continued)** | **U.S. TREASURY REPURCHASE AGREEMENTS: (continued)** |
| 74750000 | RBC Capital Markets, Repurchase Agreement dated 09/30/2025, 4.070%, due 10/01/2025 $74,758,451 to be received upon repurchase (Collateralized by $74,709,383, various U.S. Treasury Notes, 3.875-4.125%, Market Value plus accrued interest $74,750,012 due 5/31/2027-3/31/2031) | $74750000 | 17.4 |
|  |  | **176898000** | **41.1** |
|  | Total U.S. Treasury Repurchase Agreements |  |  |
|  | (Cost $176,898,000) | **176898000** | **41.1** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $524,355,777)** | $**524355777** | **121.8** |
|  | **Liabilities in Excess of Other Assets** | **(93814373)** | **(21.8)** |
|  | **Net Assets** | $**430541404** | **100.0** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2025. |
| <sup>(2)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |

---

Reference Rate Abbreviations:

FEDL01 Federal Funds Effective Rate <br> SOFRRATE 1-day Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

Voya Government Money Market Fund PORTFOLIO OF INVESTMENTS As of September 30, 2025 (Unaudited) (continued) <br>    

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices<br> in Active Markets<br> for Identical<br> Investments<br> (Level 1)** | **Significant Other<br> Observable<br> Inputs<br> (Level 2)** | **Significant<br> Unobservable<br> Inputs<br> (Level 3)** | **Fair Value<br> at<br> September 30,<br> 2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| U.S. Government Agency Debt | $— | $111404345 | $— | $111404345 |
| U.S. Treasury Debt |  | 236053432 |  | 236053432 |
| U.S. Treasury Repurchase Agreements |  | 176898000 |  | 176898000 |
| Total Investments, at fair value | $— | $524355777 | $— | $524355777 |

---

^ See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

The following table is a summary of the Fund's treasury repurchase agreement by counterparty which is subject to offset under a MRA as of September 30, 2025:

---

| | | | |
|:---|:---|:---|:---|
| **Counterparty** | **U.S. Treasury<br> Repurchase<br> Agreements,<br> at fair value** | **Fair Value of<br> Non-Cash Collateral<br> Received Including<br> Accrued Interest<sup>(1)</sup>** | **Net Amount** |
| Deutsche Bank | $102148000 | $(102148000) | $— |
| RBC Capital Markets | 74750000 | (74750000) |  |
| Totals | $176898000 | $(176898000) | $— |

---

(1) Collateral
 with a fair value of $178,941,015 has been pledged by the counterparty and received in connection with the above treasury repurchase agreement.
Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

At September 30, 2025, the aggregate cost of securities for U.S. federal income tax purposes is the same as for financial statement purposes.

See Accompanying Notes to Financial Statements

[This Page Intentionally Left Blank]

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| | |
|:---|:---|
| **Investment Adviser** | **Custodian** |
| Voya Investments, LLC | The Bank of New York Mellon |
| 7337 East Doubletree Ranch Road, Suite 100 | 225 Liberty Street |
| Scottsdale, Arizona 85258 | New York, New York 10286 |
| **Distributor** | **Legal Counsel** |
| Voya Investments Distributor, LLC | Ropes & Gray LLP |
| 7337 East Doubletree Ranch Road, Suite 100 | Prudential Tower |
| Scottsdale, Arizona 85258 | 800 Boylston Street |
|  | Boston, Massachusetts 02199 |
| **Transfer Agent** |  |
| BNY Mellon Investment Servicing (U.S.) Inc. |  |
| 103 Bellevue Parkway |  |
| Wilmington, Delaware 19809 |  |

---

**For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.**

**163308 (0925)**

![](tm2530932d1_vacsserfinimg001.jpg)

Semi-Annual Financial Statements and Other Information

**September 30, 2025**

■ Voya VACS Series EMHCD Fund

■ Voya VACS Series HYB Fund

■ Voya VACS Series SC Fund

This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds' investment objectives, risks, charges, expenses and other information. This information should be read carefully.

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| | |
|:---|:---|
| ![](tm2530932d1_vacsserfinimg002.jpg) | E-Delivery Sign-up – details inside |

---

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| | |
|:---|:---|
| **INVESTMENT MANAGEMENT**<br>**voyainvestments.com** | ![](tm2530932d1_vacsserfinimg003.jpg) |

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**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Statements of Assets and Liabilities](#v_001) | [1](#v_001) |
| [Statements of Operations](#v_002) | [2](#v_002) |
| [Statements of Changes in Net Assets](#v_003) | [3](#v_003) |
| [Financial Highlights](#v_004) | [5](#v_004) |
| [Notes to Financial Statements](#v_005) | [6](#v_005) |
| [Portfolios of Investments](#v_006) | [17](#v_006) |

---

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**PROXY VOTING INFORMATION**

A description of the policies and procedures that the Funds use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; and (2) on the U.S. Securities and Exchange Commission's ("SEC's") website at www.sec.gov. Information regarding how the Funds voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge and upon request, by calling 1-800-992-0180, or by accessing the SEC's website at www.sec.gov.

**QUARTERLY PORTFOLIO HOLDINGS**

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Funds' Forms NPORT-P are available on the SEC's website at www.sec.gov.

STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya VACS Series**<br>**EMHCD Fund** | **Voya VACS Series**<br>**HYB Fund** | **Voya VACS Series**<br>**SC Fund** |
| **ASSETS:** |  |  |  |
| Investments in securities at fair value+\* | $113401562 | $299368538 | $171376053 |
| Short-term investments at fair value† | 11666442 | 18884673 | 17072149 |
| Cash | 53794 | 1712139 | 17396 |
| Cash collateral for futures contracts | 108050 |  | 248095 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 2288601 | 4557260 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold |  | 1754767 | 738787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | 5572 | 7735 | 5584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 1562055 | 4644428 | 764292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  | 32525 |
| Prepaid expenses | 7897 | 7830 | 8515 |
| Reimbursement due from Investment Adviser |  |  | 5622 |
| Other assets | 789 | 1054 | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 129094762 | 330938424 | 190270337 |
| **LIABILITIES:** |  |  |  |
| Income distribution payable |  | 1752531 | 1064409 |
| Payable for investment securities purchased | 3565915 | 7724153 | 2747500 |
| Payable for fund shares redeemed | 2407 | 61941 | 23067 |
| Payable upon receipt of securities loaned | 3332597 | 11788605 |  |
| Variation margin payable on futures contracts | 2165 |  |  |
| Payable to custodian due to foreign currency overdraft§ | 78 |  |  |
| Payable to trustees under the deferred compensation plan (Note 5) | 789 | 1054 | 1319 |
| Payable for trustee fees | 289 | 618 | 496 |
| Payable for foreign capital gains tax | 116702 |  |  |
| Other accrued expenses and liabilities | 56735 | 61910 | 82382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 7077677 | 21390812 | 3919173 |
| **NET ASSETS** | $122017085 | $309547612 | $186351164 |
| **NET ASSETS WERE COMPRISED OF:** |  |  |  |
| Paid-in capital | $112873604 | $303213615 | $173017738 |
| Total distributable earnings | 9143481 | 6333997 | 13333426 |
| **NET ASSETS** | $122017085 | $309547612 | $186351164 |
| + Including securities loaned at value | $3255046 | $11477292 | $— |
| \* Cost of investments in securities | $105154414 | $293387114 | $161398890 |
| † Cost of short-term investments | $11667325 | $18885429 | $17074293 |
| § Cost of foreign currency overdraft | $78 | $— | $— |
| Net assets | $122017085 | $309547612 | $186351164 |
| Shares authorized | unlimited | unlimited | unlimited |
| Par value | $0.001 | $0.001 | $0.001 |
| Shares outstanding | 11472710 | 29763194 | 17495231 |
| Net asset value and redemption price per share | $10.64 | $10.40 | $10.65 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the six months ended September 30, 2025 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya VACS Series**<br>**EMHCD Fund** | **Voya VACS Series**<br>**HYB Fund** | **Voya VACS Series**<br>**SC Fund** |
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $25145 | $41636 | $25056 |
| Interest | 4012005 | 8143575 | 6696680 |
| Securities lending income, net | 6667 | 21837 |  |
| Other | 329 | 641 | 582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 4044146 | 8207689 | 6722318 |
| **EXPENSES:** |  |  |  |
| Transfer agent fees | 201 | 247 | 96 |
| Shareholder reporting expense | 542 | 522 | 670 |
| Registration fees | 9955 | 18489 | 12361 |
| Professional fees | 29615 | 35758 | 49135 |
| Custody and accounting expense | 21574 | 18103 | 20718 |
| Shareholder notification costs (Note 5) | 701 | 1070 | 1305 |
| Trustee fees | 1336 | 3088 | 2478 |
| Miscellaneous expense | 6205 | 8238 | 33537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 70129 | 85515 | 120300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees |  |  | (40969) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 70129 | 85515 | 79331 |
| Net investment income | 3974017 | 8122174 | 6642987 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (net of foreign capital gains taxes withheld^) | 274353 | 549755 | 2408757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions | (3080) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (212386) |  | 293729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain | 58887 | 549755 | 2702486 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (net of foreign capital gains taxes accrued#) | 5536535 | 4908506 | (1604559) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 43057 |  | (396116) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 5579592 | 4908506 | (2000675) |
| Net realized and unrealized gain | 5638479 | 5458261 | 701811 |
| **Increase in net assets resulting from operations** | $9612496 | $13580435 | $7344798 |
| ^ Foreign capital gains taxes withheld | $790 | $— | $— |
| # Change in foreign capital gains taxes accrued | $49254 | $— | $— |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** |
|  | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $3974017 | $8161619 | $8122174 | $10825490 |
| Net realized gain | 58887 | 3853603 | 549755 | 978232 |
| Net change in unrealized appreciation (depreciation) | 5579592 | (3216768) | 4908506 | (2106748) |
| Increase in net assets resulting from operations | 9612496 | 8798454 | 13580435 | 9696974 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital) | (3803688) | (12678907) | (8993478) | (10876527) |
| Total distributions | (3803688) | (12678907) | (8993478) | (10876527) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 64922 | 8193590 | 126906960 | 86853420 |
| Reinvestment of distributions | 3803688 | 12678907 | 8993478 | 10863512 |
|  | 3868610 | 20872497 | 135900438 | 97716932 |
| Cost of shares redeemed | (285124) | (28221967) | (1552400) | (53768017) |
| Net increase (decrease) in net assets resulting from capital share transactions | 3583486 | (7349470) | 134348038 | 43948915 |
| Net increase (decrease) in net assets | 9392294 | (11229923) | 138934995 | 42769362 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 112624791 | 123854714 | 170612617 | 127843255 |
| End of year or period | $122017085 | $112624791 | $309547612 | $170612617 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** |
|  | **Six Months**<br>**Ended**<br>**September 30,**<br>**2025**<br>**(Unaudited)** |<br>**Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |
| Net investment income | $6642987 | $12635413 |
| Net realized gain | 2702486 | 2102598 |
| Net change in unrealized appreciation (depreciation) | (2000675) | 3109796 |
| Increase in net assets resulting from operations | 7344798 | 17847807 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| Total distributions (excluding return of capital) | (6351972) | (12613918) |
| Total distributions | (6351972) | (12613918) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |
| Net proceeds from sale of shares | 729395 | 55669247 |
| Reinvestment of distributions | 4541601 | 8161756 |
|  | 5270996 | 63831003 |
| Cost of shares redeemed | (27047144) | (64445145) |
| Net decrease in net assets resulting from capital share transactions | (21776148) | (614142) |
| Net increase (decrease) in net assets | (20783322) | 4619747 |
| **NET ASSETS:** |  |  |
| Beginning of year or period | 207134486 | 202514739 |
| End of year or period | $186351164 | $207134486 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each year or period.

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss)<br>from investment<br> operations** | **Income (loss)<br>from investment<br> operations** | **Income (loss)<br>from investment<br> operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | | | | | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Ratios to average net assets** | **Supplemental <br> Data** | **Supplemental <br> Data** |
|  | <br>Net asset<br> value,<br> beginning<br> of year or<br> period | Net<br> investment<br> income<br> (loss) | | Net<br> realized<br> and<br> unrealized<br> gain (loss) | <br>Total from<br> investment<br> operations | From net<br> investment<br> income | From<br> net<br> realized<br> gains | From<br> return of<br> capital | <br>Total<br> distributions | <br>Payment<br> by affiliate | <br>Net<br> asset<br> value,<br> end of<br> year or<br> period | <br>**Total<br> Return<sup>(1)</sup>** | Expenses<br> before<br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Expenses<br> net of fee<br> waivers<br> and/or<br> recoupments<br> if any<br> <sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<br> <sup>(2)(3)</sup> | Net<br> investment<br> income<br> (loss)<br> <sup>(2)(3)</sup> | Net<br> assets,<br> end of<br> year or<br> period | Portfolio<br> turnover<br> rate |
| Year or<br> period ended | ($) | ($) | | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000's) | (%) |
|  |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** |
| 09-30-25<sup>+</sup> | 10.12 | 0.35 | <sup>•</sup> | 0.51 | 0.86 | 0.34 |  |  | 0.34 |  | 10.64 | **8.73** | 0.12 | 0.12 | 0.12 | 6.86 | 122017 | 73 |
| 03-31-25 | 10.53 | 0.73 | <sup>•</sup> | 0.04 | 0.77 | 0.72 | 0.46 |  | 1.18 |  | 10.12 | **7.54** | 0.14 | 0.14 | 0.14 | 7.02 | 112625 | 107 |
| 03-31-24 | 10.03 | 0.67 | <sup>•</sup> | 0.58 | 1.25 | 0.67 | 0.08 |  | 0.75 |  | 10.53 | **12.98** | 0.13 | 0.13 | 0.13 | 6.68 | 123855 | 120 |
| 02-17-23<sup>(4)</sup>- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.07 | <sup>•</sup> | 0.03 | 0.10 | 0.07 |  |  | 0.07 |  | 10.03 | **0.98** | 0.08 | 0.08 | 0.08 | 6.43 | 141703 | 14 |
| **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** |
| 09-30-25<sup>+</sup> | 10.20 | 0.34 | <sup>•</sup> | 0.24 | 0.58 | 0.38 |  |  | 0.38 |  | 10.40 | **5.72** | 0.07 | 0.07 | 0.07 | 6.56 | 309548 | 36 |
| 03-31-25 | 10.24 | 0.75 | <sup>•</sup> | (0.03) | 0.72 | 0.76 |  |  | 0.76 |  | 10.20 | **7.26** | 0.13 | 0.13 | 0.13 | 7.32 | 170613 | 86 |
| 03-31-24 | 10.11 | 0.82 | <sup>•</sup> | 0.13 | 0.95 | 0.82 |  |  | 0.82 |  | 10.24 | **9.85** | 0.12 | 0.12 | 0.12 | 8.18 | 127843 | 56 |
| 02-24-23<sup>(4)</sup>- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.0 | <sup>•</sup> | 0.11 | 0.19 | 0.08 |  |  | 0.08 |  | 10.11 | **1.86** | 0.07 | 0.07 | 0.07 | 8.38 | 124241 | 2 |
| **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** |
| 09-30-25<sup>+</sup> | 10.59 | 0.35 | <sup>•</sup> | 0.05 | 0.40 | 0.34 |  |  | 0.34 |  | 10.65 | **3.83** | 0.12 | 0.08 | 0.08 | 6.68 | 186351 | 14 |
| 03-31-25 | 10.33 | 0.64 | <sup>•</sup> | 0.26 | 0.90 | 0.64 |  |  | 0.64 |  | 10.59 | **8.97** | 0.10 | 0.05 | 0.05 | 6.14 | 207134 | 28 |
| 03-31-24 | 10.00 | 0.54 | <sup>•</sup> | 0.36 | 0.90 | 0.50 | 0.07 |  | 0.57 |  | 10.33 | **9.21** | 0.08 | 0.05 | 0.05 | 5.32 | 202515 | 16 |
| 03-03-23<sup>(4)</sup>- |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 10.00 | 0.04 | <sup>•</sup> | (0.01) | 0.03 | 0.03 |  |  | 0.03 |  | 10.00 | **0.35** | 0.07 | 0.05 | 0.05 | 5.17 | 236463 |  |

---

---

| | |
|:---|:---|
| <sup>(1)</sup> | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and excluding the deduction of sales charges or contingent deferred sales charges, if applicable. Total return for periods less than one year is not annualized. |
| <sup>(2)</sup> | Annualized for periods less than one year. |
| <sup>(3)</sup> | Ratios reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by the Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of all such additions or reductions. |
| <sup>(4)</sup> | Commencement of operations. |
| <sup>+</sup> | Unaudited. |
| <sup>•</sup> | Calculated using average number of shares outstanding throughout the year or period. |

---

See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited)

**NOTE 1 — ORGANIZATION**

Voya Funds Trust is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended ("1940 Act"). It was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for Voya VACS Series HYB Fund ("HYB"), a diversified series of Voya Funds Trust.

Voya Separate Portfolios Trust is a Delaware statutory trust and is registered as an open-end management investment company under the 1940 Act. It was organized on March 2, 2007 and was established under a Declaration of Trust dated March 2, 2007. It consists of fourteen separately managed series. This report is for Voya VACS Series EMHCD Fund ("EMHCD"), a non-diversified series of Voya Separate Portfolios Trust and Voya Series SC Fund ("SC"), a diversified series of Voya Separate Portfolios Trust.

Voya Funds Trust and Voya Separate Portfolios Trust are each a "Trust" and collectively referred to as the "Trusts." HYB, EMHCD and SC are each a "Fund" and collectively referred as the "Funds." The investment objective of the Funds is described in each Fund's Prospectus.

The Funds do not have a share class designation. All shareholders are allocated the common expenses of a fund and earn income and realized gains/ losses from a fund. Expenses that are specific to a fund are charged directly to that fund. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets.

Voya Investments, LLC ("Voya Investments" or the "Investment Adviser"), an Arizona limited liability company, serves as the Investment Adviser to the Funds. Voya Investment Management Co. LLC ("Voya IM"), a Delaware limited liability company, serves as the sub-adviser to the Funds. Voya Investments Distributor, LLC ("VID"), a Delaware limited liability company, serves as the principal underwriter to the Funds.

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES**

The Funds are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Board Codification Topic 946 Financial Services - Investment Companies.

The following significant accounting policies are consistently followed by the Funds in the preparation of their financial statements. Each Fund is considered an investment company under U.S. generally accepted accounting principles ("GAAP") and follows the accounting and reporting guidance applicable to investment companies.

A. ***Security Valuation***. Each Fund is open for business every day the New York Stock Exchange ("NYSE") opens for regular trading (each such day, a "Business Day"). The net asset value ("NAV") per share for each class of each Fund is determined each Business Day as of the close of the regular trading session ("Market Close"), as determined by the Consolidated Tape Association ("CTA"), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern Time unless otherwise designated by the CTA). The NAV per share of each Fund is calculated by taking the value of the Fund's assets attributable to that class, subtracting the Fund's liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Fund is closed for business, Fund shares will not be priced and a Fund does not transact purchase and redemption orders. To the extent each Fund's assets are traded in other markets on days when a Fund does not price its shares, the value of a Fund's assets will likely change and you will not be able to purchase or redeem shares of a Fund.

Portfolio securities for which market quotations are readily available are valued at market value. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. The prospectuses of the open-end registered investment companies in which each Fund may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing. Foreign securities' prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close.

When a market quotation for a portfolio security is not readily available or is deemed unreliable (for example when trading has been halted or there are unexpected market closures or other material events that would suggest that the market quotation is unreliable) and for purposes of determining the value of other Fund assets, the asset is priced at its fair value. The Board has designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of each Fund's assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Fund's sub-adviser(s). Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of an asset's fair value. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. The prices of foreign securities will generally be adjusted based on inputs from an independent pricing service that are intended to reflect valuation changes through the

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

NYSE close. Because of the inherent uncertainties of fair valuation, the values used to determine each Fund's NAV may materially differ from the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders' investments in each Fund.

The Funds' financial instruments are valued at the close of the NYSE and are reported at fair value, which GAAP defines as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 – quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at the reporting date.

Level 2 – inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and credit spreads).

Level 3 – unobservable inputs (including the fund's own assumptions in determining fair value).

Observable inputs are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use to price the financial instrument. Unobservable inputs are those for which market data are not available and are developed using the best information available about the assumptions that market participants would use to price the financial instrument. GAAP requires valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs. When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the degree of judgment used in determining those values.

A table summarizing each Fund's investments under these levels of classification is included within each Portfolio of Investments.

Each investment asset or liability of the Funds is assigned a level at measurement date based on the significance and

source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as "Level 1," inputs other than quoted prices for an asset or liability that are observable are classified as "Level 2" and significant unobservable inputs, including the Sub-Adviser's or Pricing Committee's judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as "Level 3." The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. The Funds classify each of their investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments held by the Underlying Funds. A table summarizing each Fund's investments under these levels of classification is included within the Portfolio of Investments.

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. A reconciliation of Level 3 investments within the Portfolio of Investments is presented only when a Fund has a significant amount of Level 3 investments.

B. ***Securities Transactions and Revenue Recognition.*** Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date, or for certain foreign securities, when the information becomes available to the Funds. Premium amortization and discount accretion are determined by the effective yield method.

C. ***Foreign Currency Translation.*** The books and records of the Funds are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Market value of investment securities,
other assets and liabilities — at the exchange rates prevailing at Market Close.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Purchases and sales of investment
securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets and the market values are presented at the foreign exchange rates at Market Close, the Funds do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

realized and unrealized gains or losses from investments. For securities that are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities' current market values. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities. The foregoing risks are even greater with respect to securities of issuers in emerging markets.

D. ***Risk Exposures and the Use of Derivative Instruments.*** Each Fund's investment objectives permit them to enter into various types of derivatives contracts, including, but not limited to, forward foreign currency exchange contracts, futures, purchased options, written options, and swaps. In doing so, the Funds will employ strategies in differing combinations to permit them to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow each Fund to pursue its objectives more quickly, and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.

In pursuit of their investment objectives, each Fund may seek to increase or decrease their exposure to the following market or credit risk factors:

***Credit Risk.*** The price of a bond or other debt instrument is likely to fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay its financial obligations altogether.

***Foreign Exchange Rate Risk.*** To the extent that each Fund invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged by a Fund through foreign currency exchange transactions.

Currency rates may fluctuate significantly over short periods of time. Currency rates may be affected by changes in market interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, by the imposition of currency controls, or other political or economic developments in the United States or abroad.

***Interest Rate Risk.*** A rise in market interest rates generally results in a fall in the value of bonds and other debt instruments; conversely, values generally rise as market interest rates fall. Interest rate risk is generally greater for debt instruments than floating-rate instruments. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is to changes in market interest rates. Duration is a measure of sensitivity of the price of a debt instrument to a change in interest rate. The U.S. Federal Reserve Board recently lowered interest rates following a period of consistent rate increases. Declining market interest rates increase the likelihood that debt instruments will be pre-paid. Rising market interest rates have unpredictable effects on the markets and may expose debt and related markets to heightened volatility. To the extent that a mutual fund invests in debt instruments, an increase in market interest rates may lead to increased redemptions and increased portfolio turnover, which could reduce liquidity for certain investments, adversely affect values, and increase costs. Increased redemptions may cause a mutual fund to liquidate portfolio positions when it may not be advantageous to do so and may lower returns. If dealer capacity in debt markets is insufficient for market conditions, it may further inhibit liquidity and increase volatility in debt markets. Fiscal, economic, monetary, or other governmental policies or measures have in the past, and may in the future, cause or exacerbate risks associated with interest rates, including changes in interest rates. Negative or very low interest rates could magnify the risks associated with changes in interest rates. In general, changing interest rates, including rates that fall below zero, could have unpredictable effects on markets and may expose debt and related markets to heightened volatility. Changes to monetary policy by the U.S. Federal Reserve Board or other regulatory actions could expose debt and related markets to heightened volatility, interest

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

rate sensitivity, and reduced liquidity, which may impact operations and return potential.

***Risks of Investing in Derivatives.*** Each Fund's use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where the Funds are using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Fund, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions. Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Fund. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Fund and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Fund may not realize the intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Fund to the risk of improper valuation.

Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated OTC with a single counterparty and as a result are subject to credit risks related to the counterparty's ability or willingness to perform its obligations; any deterioration in the counterparty's creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Fund to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market's movements and may have unexpected or undesired results such as a loss or a reduction in gains.

***Counterparty Credit Risk and Credit Related Contingent Features.*** Certain derivative positions are

subject to counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Funds. Each Fund's derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. The Fund intends to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, the Fund generally enters into master netting arrangements, established within the Fund's International Swap and Derivatives Association, Inc. ("ISDA") Master Agreements ("Master Agreements"). These agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by the Fund and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.

Each Fund may also enter into collateral agreements with certain counterparties to further mitigate credit risk associated with OTC derivative and forward foreign currency contracts. Subject to established minimum levels, collateral is generally determined based on the net aggregate unrealized gain or loss on contracts with a certain counterparty. Collateral pledged to or from the Funds is held in a segregated account by a third-party agent and can be in the form of cash or debt securities issued by the U.S. government or related agencies.

Each Fund's Master Agreements with derivative counterparties have credit related contingent features that if triggered would allow their derivatives counterparties to close out and demand payment or additional collateral to cover their exposure from the Fund. Credit related contingent features are established between a Fund and its derivatives counterparties to reduce the risk that the Fund will not fulfill their payment obligations to their counterparties. These triggering features include, but are not limited to, a percentage decrease in a Fund's net assets and or a percentage decrease in the Fund's NAV, which could cause the Fund to accelerate payment of any net liability owed to the counterparty. The contingent features are established within each Fund's Master Agreements.

There were no open OTC derivatives for any Fund at September 30, 2025.

E. ***Forward Foreign Currency Transactions and Futures Contracts.*** Each Fund may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. The Fund

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

either enters into these transactions on a spot basis at the spot rate prevailing in the foreign currency exchange market or use forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar.

Each Fund may enter into futures contracts involving foreign currency, interest rates, securities and securities indices. The Funds intend to limit its use of futures contracts and futures options to "bona fide hedging" transactions, as such term is defined in applicable regulations, interpretations and practice. A futures contract obligates the seller of the contract to deliver and the purchaser of the contract to take delivery of the type of foreign currency, financial instrument or security called for in the contract at a specified future time for a specified price.

Upon entering into a futures contract, each Fund is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by a Fund each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses and, if any, shown as variation margin receivable or payable on futures contracts on the Statement of Assets and Liabilities. Open futures contracts, if any, are reported on a table within each Fund's Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements, if any, on open futures contracts are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in each Fund's Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in each Fund's Statement of Operations. Realized gains (losses) are reported in the Fund's Statement of Operations at the closing or expiration of futures contracts.

Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the period ended September 30, 2025, EMHCD and SC had purchased and sold futures contracts on various bonds and notes to gain exposure to different parts of the yield curve while maintaining overall duration. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where a Fund is unable to liquidate the contract or enter into an

offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of the Fund's securities. With futures, there is minimal counterparty credit risk to a Fund since futures are exchange traded and the exchange's clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

During the period ended September 30, 2025, the Funds had average notional values on futures contracts purchased and sold as disclosed below:

---

| | | |
|:---|:---|:---|
|  | **Purchased** | **Sold** |
| EMHCD | $13550938 | $8106912 |
| SC | 71223864 | 4812281 |

---

Please refer to the tables within the Portfolio of Investments for open futures contracts at September 30, 2025. HYB did not enter into any futures contracts during the period ended September 30, 2025.

F. ***Distributions to Shareholders.*** Each Fund records distributions to the shareholders on the ex-dividend date. The Funds distribute capital gains, if any, annually. The Funds declare dividends daily and pay dividends monthly. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.

G. ***Federal Income Taxes.*** It is the policy of each Fund to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, a U.S. federal income tax or excise tax provision is not required. Management has considered the sustainability of a Fund's tax positions taken on U.S. federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized.

Each Fund may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

H. ***Use of Estimates.*** The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)**

I. ***Restricted Securities.*** Each Fund may invest in restricted securities which include those sold under Rule 144A of the Securities Act of 1933, as amended ("1933 Act") ("Rule 144A") or securities offered pursuant to Section 4(a) (2) of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

Securities that are legally restricted as to resale (such as those issued in private placements), including securities governed by Rule 144A and Regulation S under the 1933 Act, and securities that are offered in reliance on Section 4(a)(2) of the 1933 Act are referred to as "restricted securities." Restricted securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed on an exchange nor traded in other established markets. Due to the absence of a public trading market, restricted securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.

J. ***Indemnifications.*** In the normal course of business, the Trusts may enter into contracts that provide certain indemnifications. The Trusts' maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.

**NOTE 3 — INVESTMENT TRANSACTIONS**

For the period ended September 30, 2025, the cost of purchases and the proceeds from the sales of securities excluding short-term and U.S. government securities, were as follows:

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| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| EMHCD | $76286089 | $75876218 |
| HYB | 213527594 | 85599167 |
| SC | 22364746 | 37041680 |

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U.S. government securities not included above were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| EMHCD | $2486644 | $2002815 |
| SC | 2397813 | 1537032 |

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**NOTE 4 — INVESTMENT MANAGEMENT FEES**

Each Fund has entered into an investment management agreement ("Management Agreement") with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Funds. The Investment Adviser oversees all investment advisory and portfolio management services for the Funds and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services.

There is no management fee charged per the Management Agreement for EMHCD, HYB, and SC.

The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Fund. Voya IM provides investment advice for the Funds and is paid by the Investment Adviser based on the average daily net assets of each respective Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages each Fund's assets in accordance with each Fund's investment objectives, policies, and limitations.

**NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES**

At September 30, 2025, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. or affiliated investment companies owned more than 5% of the following Funds:

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| | | |
|:---|:---|:---|
| **Subsidiary/ Affiliated Investment**<br>**Company** | <br>**Fund** |<br>**Percentage** |
| Voya Balanced Income Portfolio | EMHCD | 9.18% |
|  | HYB | 12.95 |
|  | SC | 6.02 |
| Voya Intermediate Bond Portfolio | EMHCD | 68.47 |
|  | HYB | 9.45 |
|  | SC | 30.45 |
| Voya Investment Management Co. LLC | EMHCD | 16.99 |
|  | HYB | 13.09 |
|  | SC | 44.74 |
| Voya Retirement Insurance and Annuity Company | HYB | 56.51 |

---

The Funds have adopted a deferred compensation plan (the "DC Plan"), which allows eligible independent trustees, as

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)**

described in the DC Plan, to defer the receipt of all or a portion of the trustees' fees that they are entitled to receive from the Funds. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the "Notional Funds"). When the Funds purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees' deferred fees, this results in a Fund asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of "Other assets" on the accompanying Statements of Assets and Liabilities. Deferral of trustees' fees under the DC Plan will not affect net assets of the Funds, and will not materially affect the Funds' assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

The Funds may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2025, the Funds did not pay any amounts for affiliated recordkeeping services.

**NOTE 6 — EXPENSE LIMITATION AGREEMENTS**

Pursuant to a written expense limitation agreement ("Expense Limitation Agreement") between the Investment Adviser and the Trusts, on behalf of each Fund, the Investment Adviser has agreed to limit expenses of each Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, other expenses not incurred in the ordinary course of business, expenses of any counsel or other persons or services retained by the Fund's Board members who are not "interested persons", as that term is defined in the 1940 Act, and acquired fund fees and expenses to the levels listed below:

---

| | |
|:---|:---|
| **Fund** | **Expense Limit** |
| EMHCD | 0.15% |
| HYB | 0.15% |
| SC | 0.05% |

---

The Investment Adviser may at a later date recoup from the Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, the Fund's expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.

As of September 30, 2025, the amounts of waived and/or reimbursed fees that are subject to possible recoupment by

the Investment Adviser and the related expiration dates are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September 30,** | |
|  | **2026** | **2027** | **2028** |<br>**Total** |
| SC | $29951 | $80012 | $108991 | $218954 |

---

The Expense Limitation Agreement is contractual through August 1, 2026 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.

**NOTE 7 — LINE OF CREDIT**

Effective June 10, 2025, the Funds, in addition to certain other funds managed by the Investment Adviser, each Fund entered into a 364-day unsecured committed revolving line of credit agreement (the "Credit Agreement") with The Bank of New York Mellon ("BNY") for an aggregate amount of $400,000,000 through June 9, 2026. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of the Fund or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to June 10, 2025, the predecessor line of credit was for an aggregate amount of $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 9, 2025.

Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.

The Funds did not utilize the line of credit during the period ended September 30, 2025.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 8 — CAPITAL SHARES**

Transactions in capital shares and dollars are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Shares<br> sold** | **Shares<br> issued in<br> merger** | **Reinvestment<br> of<br> distributions** | **Shares<br> redeemed** | **Shares<br> converted** | **Net increase<br> (decrease) in<br> shares<br> outstanding** | **Shares<br> sold** | **Proceeds<br> from<br> shares<br> issued in<br> merger** | **Reinvestment<br> of<br> distributions** | **Shares<br> redeemed** | **Shares<br> converted** | **Net increase<br> (decrease)** |
| <br>**Year or <br> period ended** | **#** | **#** | **#** | **#** | **#** | **#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **EMHCD** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 6253 |  | 368962 | (27425) |  | 347790 | 64922 |  | 3803688 | (285124) |  | 3583486 |
| 3/31/2025 | 765918 |  | 1231864 | (2638253) |  | (640471) | 8193590 |  | 12678907 | (28221967) |  | (7349470) |
| **HYB** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 12312204 |  | 869828 | (150556) |  | 13031476 | 126906960 |  | 8993478 | (1552400) |  | 134348038 |
| 3/31/2025 | 8432276 |  | 1057901 | (5242381) |  | 4247796 | 86853420 |  | 10863512 | (53768017) |  | 43948915 |
| **SC** |  |  |  |  |  |  |  |  |  |  |  |  |
| 9/30/2025 | 68678 |  | 427921 | (2555459) |  | (2058860) | 729395 |  | 4541601 | (27047144) |  | (21776148) |
| 3/31/2025 | 5293232 |  | 776201 | (6115427) |  | (45994) | 55669247 |  | 8161756 | (64445145) |  | (614142) |

---

**NOTE 9 — SECURITIES LENDING**

Under a Master Securities Lending Agreement (the "Agreement") with BNY, the Funds can lend their securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral is equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned. The market value of the loaned securities is determined at the close of business of the Funds at their last sale price or official closing price on the principal exchange or system on which they are traded and any additional collateral is delivered to the Fund on the next business day. The cash collateral received is invested in approved investments as defined in the Securities Lending Agreement with BNY (the "Agreement"). The Funds bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Funds indemnification from loss with respect to the investment of collateral to the extent the cash collateral is invested in overnight repurchase agreements.

Cash collateral received in connection with securities lending is invested in cash equivalents, money market funds, repurchase agreements with maturities of not more than 99 days that are collateralized with U.S. Government securities, or certain short-term investments that have a remaining maturity of 190 days or less ("Permitted Investments"). Short-term investments include: securities, units, shares or other participations in short-term investment funds, pools or trusts; commercial paper, notes, bonds or other debt obligations, certificates of deposit, time deposits and other bank obligations and asset-backed commercial paper backed by diversified receivables and repurchase-backed programs. Permitted Investments are subject to certain guidelines established by the Adviser regarding liquidity, diversification, credit quality and average credit life/duration requirements. The securities purchased with cash collateral received are reflected in the Portfolio of Investments under Short-Term Investments.

Generally, in the event of counterparty default, the Funds have the right to use the collateral to offset losses incurred. The Agreement contains certain guarantees by BNY in the event of counterparty default and/or a borrower's failure to return a loaned security; however, there would be a potential loss to the Funds in the event the Funds are delayed or prevented from exercising its right to dispose of the collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in a fund.

The following tables represent a summary of each respective Fund's securities lending agreements by counterparty which are subject to offset under the Agreement as of September 30, 2025:

**EMHCD**

---

| | | | |
|:---|:---|:---|:---|
| **Counterparty** | **Securities<br> Loaned at Value** | **Cash Collateral<br> Received<sup>(1)</sup>** | **Net Amount** |
| BofA Securities Inc | $1219393 | $(1219393) | $&nbsp;&nbsp;&nbsp;&nbsp;— |
| Jefferies International Ltd | 502043 | (502043) |  |
| JP Morgan Securities Plc. | 360316 | (360316) |  |
| Merrill Lynch International | 451842 | (451842) |  |
| Standard Chartered Bank, London | 405374 | (405374) |  |
| Wells Fargo Securities LLC | 316078 | (316078) |  |
| Total | $3255046 | $(3255046) | $— |

---

(1) Cash collateral with a fair value
of $3,332,597 has been pledged by the counterparty and received in connection with the above securities lending transactions. Excess
cash collateral received from the individual counterparty is not shown for financial reporting purposes.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 9 — SECURITIES LENDING (continued)**

**HYB**

---

| | | | |
|:---|:---|:---|:---|
| **Counterparty** | **Securities<br> Loaned at Value** | **Cash Collateral<br> Received<sup>(1)</sup>** | **Net Amount** |
| BofA Securities Inc | $3002793 | $(3002793) | $— |
| Cantor Fitzgerald & Co | 92043 | (92043) |  |
| JP Morgan Securities Plc. | 825866 | (825866) |  |
| Scotia Capital (USA) INC | 5661257 | (5661257) |  |
| TD Prime Services LLC | 927260 | (927260) |  |
| TD Securities (USA) Inc. | 619889 | (619889) |  |
| Truist Securities INC | 160985 | (160985) |  |
| Wells Fargo Bank NA | 187199 | (187199) |  |
| Total | $11477292 | $(11477292) | $— |

---

(1) Cash collateral with a fair value
of $11,788,605 has been pledged by the counterparty and received in connection with the above securities lending transactions. Excess
cash collateral received from the individual counterparty is not shown for financial reporting purposes.

**NOTE 10 — FEDERAL INCOME TAXES**

The amount of distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their U.S. federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of futures contracts, paydowns, perpetual preferred securities, and wash sale deferrals.

Dividends paid by the Funds from net investment income and distributions of net realized short-term capital gains are, for U.S. federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **March 31, 2025** | **March 31, 2025** | **March 31, 2024** | **March 31, 2024** |
|  | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** |
| EMHCD | $9810009 | $2868898 | $9795774 | $440410 |
| HYB | 10876527 |  | 9938067 |  |
| SC | 12613918 |  | 11312104 | 657342 |

---

The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of March 31, 2025, were:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | | **Capital Loss Carryforwards** | **Capital Loss Carryforwards** | | |
|  | **Undistributed**<br>**Ordinary**<br>**Income** | **Undistributed**<br>**Long-term**<br>**Capital Gains** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** | **Amount** | **Character** |<br>**Other** | **Total**<br>**Distributable**<br>**Earnings/(Loss)** |
| EMHCD | $— | $711097 | $2669997 | $— |  | $(46421) | $3334673 |
| HYB | 19036 | 666786 | 1061218 |  |  |  | 1747040 |
| SC | 1253328 |  | 11579578 | (62831) | Short-term | (286440) | 12340601 |
|  |  |  |  | (143034) | Long-term |  |  |
|  |  |  |  | $(205865) |  |  |  |

---

The Funds' major tax jurisdictions are U.S. federal and Arizona state.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 10 — FEDERAL INCOME TAXES (continued)**

As of September 30, 2025, no provision for income tax is required in the Funds' financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Funds' federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. Generally, the preceding four tax years remain subject to examination by these jurisdictions.

**NOTE 11 — MARKET DISRUPTION AND GEOPOLITICAL RISK**

A Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, trade disputes, tariffs and other restrictions on trade or economic sanctions, rapid technological developments (such as artificial intelligence technologies), and other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example, the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to, adversely affect global energy and financial markets and therefore could affect the value of investments, including beyond the direct exposure to Russian issuers or nearby geographic regions. Furthermore, a prolonged conflict between Hamas and Israel, and the potential expansion of the conflict in the surrounding areas and the involvement of other nations in such conflict, such as the Houthi movement's attacks on marine vessels in the Red Sea, could further destabilize the Middle East region and introduce new uncertainties in global markets, including the oil and natural gas markets. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have experienced financial difficulties and, in some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial difficulties

and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail, which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of a Fund's investments. Any of these occurrences could disrupt the operations of a Fund and of a Fund's service providers.

**NOTE 12 — SEGMENT REPORTING**

In November 2023, the FASB issued Accounting Standards Update ("ASU"), ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about segment expenses. Adoption of ASU 2023-07, impacts financial statement disclosure only and did not affect a Fund's financial position or operating results.

Topic 280 defines an operating segment as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the chief operating decision maker ("CODM") to assess performance and make resource allocation decisions. The Funds have one operating segment that derives its income from earnings on its investments. The Product Review Committee (the "Committee") of the Investment Adviser and its affiliates is deemed to be the CODM. The Committee is comprised of executive leaders and it reviews the operating results of the Funds holistically. The CODM considers changes in net assets from operations, expense ratios, total returns and fund composition to make resource allocation decisions. Detailed financial information regarding the Funds is disclosed within these financial statements with total assets and liabilities disclosed on the Statement of Assets and Liabilities, investments held on the Portfolio of Investments, results of operations on the Statement of Operations and other information about each Fund's performance, including total return, portfolio turnover and expense ratios within the Financial Highlights.

NOTES TO FINANCIAL STATEMENTS as of September 30, 2025 (Unaudited) (continued)

------

**NOTE 13 — SUBSEQUENT EVENTS**

Dividends: Subsequent to September 30, 2025, the Funds declared dividends from net investment income of:

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Share**<br>**Amount** | **Payable**<br>**Date** | **Record**<br>**Date** |
| EMHCD | $0.0639 | November 3, 2025 | Daily |
| HYB | $0.0587 | November 3, 2025 | Daily |
| SC | $0.0629 | November 3, 2025 | Daily |

---

The Funds have evaluated events occurring after the Statements of Assets and Liabilities date through the date that the financial statements were issued ("subsequent events") to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: 60.4%** | **SOVEREIGN BONDS: 60.4%** | **SOVEREIGN BONDS: 60.4%** | **SOVEREIGN BONDS: 60.4%** |
|  | **Angola: 0.9%** | **Angola: 0.9%** | **Angola: 0.9%** |
| 550000 <sup>(1)(2)</sup> | Angolan Government International Bond, 8.000%, 11/26/2029 | $536910 | 0.4 |
| 300000 | Angolan Government International Bond, 8.750%, 04/14/2032 | 287559 | 0.2 |
| 350000 | Angolan Government International Bond, 9.375%, 05/08/2048 | 300913 | 0.3 |
|  |  | **1125382** | **0.9** |
|  | **Argentina: 2.0%** | **Argentina: 2.0%** | **Argentina: 2.0%** |
| 947022 <sup>(3)</sup> | Argentine Republic Government International Bond, 0.750% (Step Rate @ 1.750% on 07/09/2027), 07/09/2030 | 641607 | 0.5 |
| 179289 | Argentine Republic Government International Bond, 1.000%, 07/09/2029 | 130164 | 0.1 |
| 550000 <sup>(3)</sup> | Argentine Republic Government International Bond, 3.500% (Step Rate @ 4.875% on 07/09/2029), 07/09/2041 | 267919 | 0.2 |
| 2156220 <sup>(3)</sup> | Argentine Republic Government International Bond, 4.125% (Step Rate @ 4.750% on 07/09/2027), 07/09/2035 | 1136597 | 1 |
| 451019 <sup>(4)</sup> | Argentine Republic Government International Bond, 5.000%, 01/09/2038 | 254375 | 0.2 |
|  |  | **2430662** | **2.0** |
|  | **Bahrain: 2.0%** | **Bahrain: 2.0%** | **Bahrain: 2.0%** |
| 1700000 | Bahrain Government International Bond, 7.375%, 05/14/2030 | 1833450 | 1.5 |
| 600000 <sup>(1)</sup> | Bahrain Government International Bond, 7.500%, 02/12/2036 | 658050 | 0.5 |
|  |  | **2491500** | **2.0** |
|  | **Benin: 0.2%** | **Benin: 0.2%** | **Benin: 0.2%** |
| 200000 | Benin Government International Bond, 8.375%, 01/23/2041 | 210000 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Brazil: 3.3%** | **Brazil: 3.3%** | **Brazil: 3.3%** |
| 400000 | Brazilian Government International Bond, 5.625%, 02/21/2047 | $343700 | 0.3 |
| 500000 <sup>(2)</sup> | Brazilian Government International Bond, 6.000%, 10/20/2033 | 512500 | 0.4 |
| 200000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 204754 | 0.2 |
| 945000 | Brazilian Government International Bond, 6.250%, 03/18/2031 | 998392 | 0.8 |
| 1025000 | Brazilian Government International Bond, 6.625%, 03/15/2035 | 1068050 | 0.9 |
| 900000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | 914067 | 0.7 |
|  |  | **4041463** | **3.3** |
|  | **Colombia: 3.0%** | **Colombia: 3.0%** | **Colombia: 3.0%** |
| 500000 | Colombia Government International Bond, 3.250%, 04/22/2032 | 424875 | 0.4 |
| 550000 <sup>(2)</sup> | Colombia Government International Bond, 5.000%, 06/15/2045 | 414838 | 0.3 |
| 500000 | Colombia Government International Bond, 6.125%, 01/18/2041 | 449375 | 0.4 |
| 500000 | Colombia Government International Bond, 7.750%, 11/07/2036 | 525125 | 0.4 |
| 464000 | Colombia Government International Bond, 8.000%, 04/20/2033 | 507036 | 0.4 |
| 455000 | Colombia Government International Bond, 8.000%, 11/14/2035 | 490035 | 0.4 |
| 775000 | Colombia Government International Bond, 8.375%, 11/07/2054 | 822662 | 0.7 |
|  |  | **3633946** | **3.0** |
|  | **Costa Rica: 0.9%** | **Costa Rica: 0.9%** | **Costa Rica: 0.9%** |
| 575000 | Costa Rica Government International Bond, 6.125%, 02/19/2031 | 600587 | 0.5 |
| 450000 <sup>(1)</sup> | Costa Rica Government International Bond, 7.300%, 11/13/2054 | 494100 | 0.4 |
|  |  | **1094687** | **0.9** |
|  | **Dominican Republic: 2.9%** | **Dominican Republic: 2.9%** | **Dominican Republic: 2.9%** |
| 200000 <sup>(1)</sup> | Dominican Republic International Bond, 4.875%, 09/23/2032 | 192100 | 0.1 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Dominican Republic: (continued)** | **Dominican Republic: (continued)** | **Dominican Republic: (continued)** | **Dominican Republic: (continued)** |
| 500000 <sup>(1)</sup> | Dominican Republic International Bond, 5.300%, 01/21/2041 | $| 453500 | 0.4 |
| 1050000 | Dominican Republic International Bond, 5.875%, 01/30/2060 |  | 938700 | 0.8 |
| 550000 | Dominican Republic International Bond, 6.000%, 07/19/2028 |  | 570419 | 0.5 |
| 350000 <sup>(1)</sup> | Dominican Republic International Bond, 6.000%, 02/22/2033 |  | 358400 | 0.3 |
| 825000 <sup>(1)</sup> | Dominican Republic International Bond, 6.950%, 03/15/2037 |  | 883678 | 0.7 |
| 150000 <sup>(1)</sup> | Dominican Republic International Bond, 7.050%, 02/03/2031 |  | 162150 | 0.1 |
|  |  |  | **3558947** | **2.9** |
|  | **Ecuador: 1.3%** | **Ecuador: 1.3%** | **Ecuador: 1.3%** | **Ecuador: 1.3%** |
| 442550 <sup>(1)(3)</sup> | Ecuador Government International Bond, 5.000% (Step Rate @ 5.500% on 07/31/2026), 07/31/2040 |  | 293466 | 0.2 |
| 369817 <sup>(1)(4)</sup> | Ecuador Government International Bond, 6.900%, 07/31/2030 |  | 329507 | 0.3 |
| 300000 <sup>(4)</sup> | Ecuador Government International Bond, 6.900%, 07/31/2030 |  | 267300 | 0.2 |
| 882267 <sup>(1)(3)</sup> | Ecuador Government International Bond, 6.900% (Step Rate @ 6.900% on 07/31/2025), 07/31/2035 |  | 661259 | 0.6 |
|  |  |  | **1551532** | **1.3** |
|  | **Egypt: 2.4%** | **Egypt: 2.4%** | **Egypt: 2.4%** | **Egypt: 2.4%** |
| 800000 | Egypt Government International Bond, 5.800%, 09/30/2027 |  | 797840 | 0.7 |
| 500000 <sup>(1)</sup> | Egypt Government International Bond, 7.500%, 02/16/2061 |  | 393538 | 0.3 |
| 575000 <sup>(1)</sup> | Egypt Government International Bond, 8.625%, 02/04/2030 |  | 611909 | 0.5 |
| 875000 <sup>(1)</sup> | Egypt Government International Bond, 8.700%, 03/01/2049 |  | 781397 | 0.6 |
| 350000 <sup>(1)</sup> | Egypt Government International Bond, 8.875%, 05/29/2050 |  | 316400 | 0.3 |
|  |  |  | **2901084** | **2.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Ghana: 0.8%** | **Ghana: 0.8%** | **Ghana: 0.8%** |
| 116755 <sup>(5)</sup> | Ghana Government International Bond, 3.670%, 01/03/2030 | $100118 | 0.1 |
| 418700 <sup>(3)</sup> | Ghana Government International Bond, 5.000% (Step Rate @ 6.000% on 07/03/2028), 07/03/2029 | 409279 | 0.3 |
| 592800 <sup>(3)</sup> | Ghana Government International Bond, 5.000% (Step Rate @ 6.000% on 07/03/2028), 07/03/2035 | 499434 | 0.4 |
|  |  | **1008831** | **0.8** |
|  | **Guatemala: 1.5%** | **Guatemala: 1.5%** | **Guatemala: 1.5%** |
| 435000 <sup>(1)</sup> | Guatemala Government Bond, 5.250%, 08/10/2029 | 440220 | 0.4 |
| 600000 <sup>(1)</sup> | Guatemala Government Bond, 6.050%, 08/06/2031 | 626100 | 0.5 |
| 250000 <sup>(1)</sup> | Guatemala Government Bond, 6.550%, 02/06/2037 | 264610 | 0.2 |
| 500000 <sup>(1)</sup> | Guatemala Government Bond, 6.600%, 06/13/2036 | 531000 | 0.4 |
|  |  | **1861930** | **1.5** |
|  | **Honduras: 0.4%** | **Honduras: 0.4%** | **Honduras: 0.4%** |
| 250000 | Honduras Government International Bond, 5.625%, 06/24/2030 | 248657 | 0.2 |
| 200000 | Honduras Government International Bond, 6.250%, 01/19/2027 | 203463 | 0.2 |
|  |  | **452120** | **0.4** |
|  | **Hungary: 2.6%** | **Hungary: 2.6%** | **Hungary: 2.6%** |
| 500000 <sup>(1)</sup> | Hungary Government International Bond, 3.125%, 09/21/2051 | 317200 | 0.3 |
| 450000 <sup>(1)</sup> | Hungary Government International Bond, 5.500%, 06/16/2034 | 458719 | 0.4 |
| 500000 | Hungary Government International Bond, 5.500%, 03/26/2036 | 504948 | 0.4 |
| 525000 | Hungary Government International Bond, 6.750%, 09/23/2055 | 558075 | 0.5 |
| 500000 | Hungary Government International Bond 30Y, 7.625%, 03/29/2041 | 594250 | 0.5 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Hungary: (continued)** | **Hungary: (continued)** | **Hungary: (continued)** | **Hungary: (continued)** |
| 650000 <sup>(1)</sup> | Magyar Export-Import Bank Zrt, 6.125%, 12/04/2027 | $| 673793 | 0.5 |
|  |  |  | **3106985** | **2.6** |
|  | **India: 0.2%** | **India: 0.2%** | **India: 0.2%** | **India: 0.2%** |
| 300000 | Export-Import Bank of India, 2.250%, 01/13/2031 |  | 269142 | 0.2 |
|  | **Indonesia: 1.7%** | **Indonesia: 1.7%** | **Indonesia: 1.7%** | **Indonesia: 1.7%** |
| 350000 | Indonesia Government International Bond, 5.250%, 01/17/2042 |  | 352187 | 0.3 |
| 320000 <sup>(2)</sup> | Indonesia Government International Bond, 5.450%, 09/20/2052 |  | 316000 | 0.3 |
| 1050000 | Indonesia Government International Bond, 8.500%, 10/12/2035 |  | 1342824 | 1.1 |
|  |  |  | **2011011** | **1.7** |
|  | **Ivory Coast: 0.7%** | **Ivory Coast: 0.7%** | **Ivory Coast: 0.7%** | **Ivory Coast: 0.7%** |
| 300000 <sup>(1)</sup> | Ivory Coast Government International Bond, 7.625%, 01/30/2033 |  | 312975 | 0.3 |
| 375000 <sup>(1)</sup> | Ivory Coast Government International Bond, 8.250%, 01/30/2037 |  | 391708 | 0.3 |
| 159559 <sup>(3)</sup> | Ivory Coast Government International Bond REGs, 5.750%, 12/31/2032 |  | 157485 | 0.1 |
|  |  |  | **862168** | **0.7** |
|  | **Jamaica: 0.9%** | **Jamaica: 0.9%** | **Jamaica: 0.9%** | **Jamaica: 0.9%** |
| 400000 | Jamaica Government International Bond, 7.875%, 07/28/2045 |  | 483530 | 0.4 |
| 500000 | Jamaica Government International Bond, 8.000%, 03/15/2039 |  | 609375 | 0.5 |
|  |  |  | **1092905** | **0.9** |
|  | **Jordan: 0.8%** | **Jordan: 0.8%** | **Jordan: 0.8%** | **Jordan: 0.8%** |
| 1000000 <sup>(1)</sup> | Jordan Government International Bond, 5.850%, 07/07/2030 |  | 998832 | 0.8 |
|  | **Kenya: 1.0%** | **Kenya: 1.0%** | **Kenya: 1.0%** | **Kenya: 1.0%** |
| 250000 <sup>(2)</sup> | Republic of Kenya Government International Bond, 6.300%, 01/23/2034 |  | 220312 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Kenya: (continued)** | **Kenya: (continued)** | **Kenya: (continued)** | **Kenya: (continued)** |
| 500000 | Republic of Kenya Government International Bond, 7.250%, 02/28/2028 | $| 514811 | 0.4 |
| 225000 | Republic of Kenya Government International Bond, 8.000%, 05/22/2032 |  | 223846 | 0.2 |
| 250000 <sup>(2)</sup> | Republic of Kenya Government International Bond, 8.250%, 02/28/2048 |  | 227435 | 0.2 |
|  |  |  | **1186404** | **1.0** |
|  | **Lebanon: 0.7%** | **Lebanon: 0.7%** | **Lebanon: 0.7%** | **Lebanon: 0.7%** |
| 2000000 <sup>(6)</sup> | Lebanon Government International Bond, 6.100%, 10/04/2022 |  | 447000 | 0.4 |
| 2000000 <sup>(6)</sup> | Lebanon Government International Bond 10Y, 6.850%, 03/23/2027 |  | 447000 | 0.3 |
|  |  |  | **894000** | **0.7** |
|  | **Mexico: 3.9%** | **Mexico: 3.9%** | **Mexico: 3.9%** | **Mexico: 3.9%** |
| 740000 | Mexico Government International Bond, 3.250%, 04/16/2030 |  | 700040 | 0.6 |
| 950000 | Mexico Government International Bond, 4.875%, 05/19/2033 |  | 922688 | 0.8 |
| 586000 | Mexico Government International Bond, 5.850%, 07/02/2032 |  | 608415 | 0.5 |
| 1179000 | Mexico Government International Bond, 6.338%, 05/04/2053 |  | 1150244 | 0.9 |
| 477000 | Mexico Government International Bond, 6.625%, 01/29/2038 |  | 502758 | 0.4 |
| 600000 | Mexico Government International Bond, 6.875%, 05/13/2037 |  | 649200 | 0.5 |
| 227000 | Mexico Government International Bond, 7.375%, 05/13/2055 |  | 250494 | 0.2 |
|  |  |  | **4783839** | **3.9** |
|  | **Morocco: 0.3%** | **Morocco: 0.3%** | **Morocco: 0.3%** | **Morocco: 0.3%** |
| 500000 <sup>(1)</sup> | Morocco Government International Bond, 4.000%, 12/15/2050 |  | 369355 | 0.3 |
|  | **Nigeria: 2.1%** | **Nigeria: 2.1%** | **Nigeria: 2.1%** | **Nigeria: 2.1%** |
| 500000 | Nigeria Government International Bond, 6.500%, 11/28/2027 |  | 502875 | 0.4 |
| 550000 <sup>(1)</sup> | Nigeria Government International Bond, 7.375%, 09/28/2033 |  | 521472 | 0.4 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Nigeria: (continued)** | **Nigeria: (continued)** | **Nigeria: (continued)** | **Nigeria: (continued)** |
| 300000 | Nigeria Government International Bond, 7.625%, 11/28/2047 | $| 258120 | 0.2 |
| 500000 | Nigeria Government International Bond, 7.696%, 02/23/2038 |  | 464375 | 0.4 |
| 475000 | Nigeria Government International Bond, 7.875%, 02/16/2032 |  | 472672 | 0.4 |
| 300000 | Nigeria Government International Bond, 7.875%, 02/16/2032 |  | 298530 | 0.3 |
|  |  |  | **2518044** | **2.1** |
|  | **Oman: 0.8%** | **Oman: 0.8%** | **Oman: 0.8%** | **Oman: 0.8%** |
| 600000 | Oman Government International Bond, 6.000%, 08/01/2029 |  | 633300 | 0.5 |
| 350000 <sup>(1)</sup> | Oman Government International Bond, 6.500%, 03/08/2047 |  | 379015 | 0.3 |
|  |  |  | **1012315** | **0.8** |
|  | **Pakistan: 0.6%** | **Pakistan: 0.6%** | **Pakistan: 0.6%** | **Pakistan: 0.6%** |
| 200000 | Pakistan Global Sukuk Programme Co. Ltd., 7.950%, 01/31/2029 |  | 203470 | 0.2 |
| 200000 | Pakistan Government International Bond, 6.875%, 12/05/2027 |  | 200100 | 0.2 |
| 200000 | Pakistan Government International Bond, 7.375%, 04/08/2031 |  | 196375 | 0.1 |
| 200000 | Pakistan Government International Bond, 8.875%, 04/08/2051 |  | 185300 | 0.1 |
|  |  |  | **785245** | **0.6** |
|  | **Panama: 2.1%** | **Panama: 2.1%** | **Panama: 2.1%** | **Panama: 2.1%** |
| 300000 | Panama Government International Bond, 4.500%, 04/16/2050 |  | 227400 | 0.2 |
| 575000 | Panama Government International Bond, 4.500%, 04/01/2056 |  | 424206 | 0.3 |
| 550000 | Panama Government International Bond, 4.500%, 01/19/2063 |  | 402669 | 0.3 |
| 500000 | Panama Government International Bond, 6.400%, 02/14/2035 |  | 519500 | 0.4 |
| 550000 | Panama Government International Bond, 6.700%, 01/26/2036 |  | 583451 | 0.5 |
| 410000 | Panama Government International Bond, 7.500%, 03/01/2031 |  | 453460 | 0.4 |
|  |  |  | **2610686** | **2.1** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Paraguay: 1.4%** | **Paraguay: 1.4%** | **Paraguay: 1.4%** |
| 43000 | Paraguay Government International Bond, 5.000%, 04/15/2026 | $43182 | 0.0 |
| 650000 | Paraguay Government International Bond, 5.600%, 03/13/2048 | 618150 | 0.5 |
| 550000 <sup>(1)</sup> | Paraguay Government International Bond, 5.850%, 08/21/2033 | 581212 | 0.5 |
| 425000 <sup>(1)</sup> | Paraguay Government International Bond, 6.000%, 02/09/2036 | 452838 | 0.4 |
|  |  | **1695382** | **1.4** |
|  | **Peru: 0.2%** | **Peru: 0.2%** | **Peru: 0.2%** |
| 250000 | Peruvian Government International Bond, 5.625%, 11/18/2050 | 246938 | 0.2 |
|  | **Philippines: 0.9%** | **Philippines: 0.9%** | **Philippines: 0.9%** |
| 550000 | Philippine Government International Bond, 5.500%, 01/17/2048 | 563750 | 0.5 |
| 500000 | Philippine Government International Bond, 5.950%, 10/13/2047 | 539073 | 0.4 |
|  |  | **1102823** | **0.9** |
|  | **Poland: 1.1%** | **Poland: 1.1%** | **Poland: 1.1%** |
| 590000 | Republic of Poland Government International Bond 10Y, 5.375%, 02/12/2035 | 612658 | 0.5 |
| 800000 | Republic of Poland Government International Bond 30Y, 5.500%, 03/18/2054 | 775240 | 0.6 |
|  |  | **1387898** | **1.1** |
|  | **Qatar: 0.6%** | **Qatar: 0.6%** | **Qatar: 0.6%** |
| 550000 <sup>(1)</sup> | Qatar Government International Bond, 4.400%, 04/16/2050 | 493790 | 0.4 |
| 250000 <sup>(1)</sup> | Qatar Government International Bond, 4.817%, 03/14/2049 | 238850 | 0.2 |
|  |  | **732640** | **0.6** |
|  | **Romania: 3.1%** | **Romania: 3.1%** | **Romania: 3.1%** |
| 1250000 <sup>(1)</sup> | Romanian Government International Bond, 3.000%, 02/14/2031 | 1113318 | 0.9 |
| 500000 <sup>(1)</sup> | Romanian Government International Bond, 3.625%, 03/27/2032 | 446250 | 0.4 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Romania: (continued)** | **Romania: (continued)** | **Romania: (continued)** | **Romania: (continued)** |
| 200000 | Romanian Government International Bond, 4.000%, 02/14/2051 | $| 133924 | 0.1 |
| 300000 | Romanian Government International Bond, 5.125%, 06/15/2048 |  | 242112 | 0.2 |
| 684000 <sup>(1)</sup> | Romanian Government International Bond, 5.750%, 03/24/2035 |  | 660488 | 0.5 |
| 618000 <sup>(1)</sup> | Romanian Government International Bond, 6.375%, 01/30/2034 |  | 627909 | 0.5 |
| 300000 | Romanian Government International Bond, 6.375%, 01/30/2034 |  | 304810 | 0.3 |
| 200000 | Romanian Government International Bond, 7.625%, 01/17/2053 |  | 213686 | 0.2 |
|  |  |  | **3742497** | **3.1** |
|  | **Saudi Arabia: 3.1%** | **Saudi Arabia: 3.1%** | **Saudi Arabia: 3.1%** | **Saudi Arabia: 3.1%** |
| 1700000 | Saudi Government International Bond, 3.450%, 02/02/2061 |  | 1116934 | 0.9 |
| 600000 | Saudi Government International Bond, 3.750%, 01/21/2055 |  | 434146 | 0.4 |
| 850000 <sup>(1)</sup> | Saudi Government International Bond, 5.500%, 10/25/2032 |  | 901850 | 0.7 |
| 825000 | Saudi Government International Bond, 5.625%, 01/13/2035 |  | 881327 | 0.7 |
| 500000 | Saudi Government International Bond, 5.750%, 01/16/2054 |  | 502285 | 0.4 |
|  |  |  | **3836542** | **3.1** |
|  | **Senegal: 0.3%** | **Senegal: 0.3%** | **Senegal: 0.3%** | **Senegal: 0.3%** |
| 500000 | Senegal Government International Bond, 6.250%, 05/23/2033 |  | 363440 | 0.3 |
|  | **Serbia: 0.4%** | **Serbia: 0.4%** | **Serbia: 0.4%** | **Serbia: 0.4%** |
| 250000 | Serbia International Bond, 2.125%, 12/01/2030 |  | 218948 | 0.2 |
| 275000 <sup>(1)</sup> | Serbia International Bond, 6.500%, 09/26/2033 |  | 298423 | 0.2 |
|  |  |  | **517371** | **0.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **South Africa: 1.9%** | **South Africa: 1.9%** | **South Africa: 1.9%** |
| 250000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.100%, 11/19/2036 | $261312 | 0.2 |
| 450000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.950%, 11/19/2054 | 457981 | 0.4 |
| 300000 | Republic of South Africa Government International Bond 12Y, 4.300%, 10/12/2028 | 296025 | 0.3 |
| 500000 | Republic of South Africa Government International Bond 30Y, 5.750%, 09/30/2049 | 401730 | 0.3 |
| 600000 | Republic of South Africa Government International Bond 30Y, 6.300%, 06/22/2048 | 518436 | 0.4 |
| 350000 | Republic of South Africa Government International Bond 30Y, 7.300%, 04/20/2052 | 337400 | 0.3 |
|  |  | **2272884** | **1.9** |
|  | **Sri Lanka: 1.2%** | **Sri Lanka: 1.2%** | **Sri Lanka: 1.2%** |
| 202000 <sup>(1)(3)</sup> | Sri Lanka Government International Bond, 3.100% (Step Rate @ 3.350% on 07/15/2027), 01/15/2030 | 189981 | 0.2 |
| 396220 <sup>(1)(3)</sup> | Sri Lanka Government International Bond, 3.350% (Step Rate @ 3.600% on 09/15/2027), 03/15/2033 | 340947 | 0.3 |
| 371514 <sup>(1)(3)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 3.850% on 08/15/2027), 02/15/2038 | 331019 | 0.3 |
| 185679 <sup>(1)(3)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 3.850% on 11/15/2027), 05/15/2036 | 164512 | 0.1 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Sri Lanka: (continued)** | **Sri Lanka: (continued)** | **Sri Lanka: (continued)** | **Sri Lanka: (continued)** |
| 267540 <sup>(1)(3)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 5.100% on 12/15/2027), 06/15/2035 | $| 195839 | 0.2 |
| 185274 <sup>(1)</sup> | Sri Lanka Government International Bond, 4.000%, 04/15/2028 |  | 177840 | 0.1 |
|  |  |  | **1400138** | **1.2** |
|  | **Trinidad and Tobago: 0.3%** | **Trinidad and Tobago: 0.3%** | **Trinidad and Tobago: 0.3%** | **Trinidad and Tobago: 0.3%** |
| 400000 <sup>(1)</sup> | Trinidad & Tobago Government International Bond, 6.400%, 06/26/2034 |  | 408800 | 0.3 |
|  | **Turkey: 3.4%** | **Turkey: 3.4%** | **Turkey: 3.4%** | **Turkey: 3.4%** |
| 1000000 | Turkey Government International Bond, 7.250%, 05/29/2032 |  | 1043250 | 0.9 |
| 300000 | Turkey Government International Bond 10Y, 5.125%, 02/17/2028 |  | 299962 | 0.2 |
| 800000 | Turkey Government International Bond 10Y, 7.625%, 04/26/2029 |  | 851104 | 0.7 |
| 595000 | Turkey Government International Bond 12Y, 6.500%, 09/20/2033 |  | 590947 | 0.5 |
| 550000 | Turkey Government International Bond 30Y, 6.000%, 01/14/2041 |  | 481559 | 0.4 |
| 600000 | Turkey Government International Bond 5Y, 9.875%, 01/15/2028 |  | 659736 | 0.5 |
| 200000 <sup>(1)</sup> | Turkey Ihracat Kredi Bankasi AS, 9.000%, 01/28/2027 |  | 210528 | 0.2 |
|  |  |  | **4137086** | **3.4** |
|  | **Ukraine: 1.4%** | **Ukraine: 1.4%** | **Ukraine: 1.4%** | **Ukraine: 1.4%** |
| 110474 <sup>(1)(3)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 |  | 58275 | 0.1 |
| 412832 <sup>(1)(3)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2034 |  | 171841 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Ukraine: (continued)** | **Ukraine: (continued)** | **Ukraine: (continued)** | **Ukraine: (continued)** |
| 348869 <sup>(1)(3)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2035 | $| 170074 | 0.1 |
| 290724 <sup>(1)(3)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2036 |  | 141437 | 0.1 |
| 299400 <sup>(1)(3)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2029 |  | 205089 | 0.2 |
| 618033 <sup>(1)(3)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2034 |  | 347026 | 0.3 |
| 569548 <sup>(1)(3)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2035 |  | 314675 | 0.3 |
| 535466 <sup>(1)(3)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2036 |  | 291829 | 0.2 |
|  |  |  | **1700246** | **1.4** |
|  | **United Arab Emirates: 0.2%** | **United Arab Emirates: 0.2%** | **United Arab Emirates: 0.2%** | **United Arab Emirates: 0.2%** |
| 250000 <sup>(1)</sup> | Finance Department Government of Sharjah, 6.500%, 11/23/2032 |  | 270000 | 0.2 |
|  | **Uruguay: 0.2%** | **Uruguay: 0.2%** | **Uruguay: 0.2%** | **Uruguay: 0.2%** |
| 123334 | Uruguay Government International Bond, 4.375%, 10/27/2027 |  | 124453 | 0.1 |
| 51825 | Uruguay Government International Bond, 4.375%, 01/23/2031 |  | 52577 | 0.1 |
|  |  |  | **177030** | **0.2** |
|  | **Venezuela: 0.4%** | **Venezuela: 0.4%** | **Venezuela: 0.4%** | **Venezuela: 0.4%** |
| 175000 | Venezuela Government International Bond, 7.000%, 03/31/2038 |  | 38762 | 0.0 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Venezuela: (continued)** | **Venezuela: (continued)** | **Venezuela: (continued)** | **Venezuela: (continued)** |
| 550000 <sup>(6)</sup> | Venezuela Government International Bond, 9.250%, 09/15/2027 | $| 135300 | 0.1 |
| 275000 | Venezuela Government International Bond, 9.250%, 05/07/2028 |  | 62975 | 0.1 |
| 200000 | Venezuela Government International Bond, 9.375%, 01/13/2034 |  | 54500 | 0.0 |
| 425000 | Venezuela Government International Bond, 11.750%, 10/21/2026 |  | 103063 | 0.1 |
| 575000 | Venezuela Government International Bond, 11.950%, 08/05/2031 |  | 138000 | 0.1 |
|  |  |  | **532600** | **0.4** |
|  | **Zambia: 0.3%** | **Zambia: 0.3%** | **Zambia: 0.3%** | **Zambia: 0.3%** |
| 189337 <sup>(1)</sup> | Zambia Government International Bond, 0.500%, 12/31/2053 |  | 128973 | 0.1 |
| 179056 <sup>(1)(3)</sup> | Zambia Government International Bond, 5.750% (Step Rate @ 7.500% on 06/30/2031), 06/30/2033 |  | 171641 | 0.2 |
|  |  |  | **300614** | **0.3** |
|  | Total Sovereign Bonds |  |  |  |
|  | (Cost $67,520,528) |  | **73687944** | **60.4** |
| **CORPORATE BONDS/NOTES: 32.1%** | **CORPORATE BONDS/NOTES: 32.1%** | **CORPORATE BONDS/NOTES: 32.1%** | **CORPORATE BONDS/NOTES: 32.1%** | **CORPORATE BONDS/NOTES: 32.1%** |
|  | **Brazil: 1.3%** | **Brazil: 1.3%** | **Brazil: 1.3%** | **Brazil: 1.3%** |
| 500000 <sup>(1)</sup> | Minerva Luxembourg SA, 8.875%, 09/13/2033 |  | 550625 | 0.5 |
| 275000 <sup>(1)</sup> | Nexa Resources SA, 6.600%, 04/08/2037 |  | 283697 | 0.2 |
| 500000 <sup>(1)</sup> | Raizen Fuels Finance SA, 6.250%, 07/08/2032 |  | 489750 | 0.4 |
| 250000 <sup>(1)</sup> | Raizen Fuels Finance SA, 6.700%, 02/25/2037 |  | 241905 | 0.2 |
|  |  |  | **1565977** | **1.3** |
|  | **Chile: 6.7%** | **Chile: 6.7%** | **Chile: 6.7%** | **Chile: 6.7%** |
| 416000 <sup>(1)(4)</sup> | Banco del Estado de Chile, 7.950%, 12/31/2199 |  | 446420 | 0.4 |
| 708691 <sup>(1)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 |  | 728623 | 0.6 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Chile: (continued)** | **Chile: (continued)** | **Chile: (continued)** | **Chile: (continued)** |
| 500000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 4.500%, 08/01/2047 | $| 407500 | 0.3 |
| 250000 | Corp Nacional del Cobre de Chile, 5.125%, 02/02/2033 |  | 251067 | 0.2 |
| 725000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 |  | 761250 | 0.6 |
| 425000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.300%, 09/08/2053 |  | 436730 | 0.4 |
| 1350000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 |  | 1441800 | 1.2 |
| 906000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 |  | 973044 | 0.8 |
| 400000 <sup>(1)(2)</sup> | Empresa de Pasajeros Metro S.A., 3.693%, 09/13/2061 |  | 284000 | 0.2 |
| 300000 <sup>(1)</sup> | Empresa Nacional del Petroleo, 4.500%, 09/14/2047 |  | 253200 | 0.2 |
| 900000 <sup>(1)</sup> | Empresa Nacional del Petroleo, 5.950%, 07/30/2034 |  | 946615 | 0.8 |
| 725000 <sup>(1)</sup> | Engie Energia Chile SA, 6.375%, 04/17/2034 |  | 773510 | 0.6 |
| 475000 <sup>(1)(4)</sup> | Inversiones CMPC SA, 6.700%, 12/09/2057 |  | 487044 | 0.4 |
|  |  |  | **8190803** | **6.7** |
|  | **Dominican Republic: 0.3%** | **Dominican Republic: 0.3%** | **Dominican Republic: 0.3%** | **Dominican Republic: 0.3%** |
| 400000 <sup>(1)</sup> | Aeropuertos Dominicanos Siglo XXI SA, 7.000%, 06/30/2034 |  | 421500 | 0.3 |
|  | **Guatemala: 0.5%** | **Guatemala: 0.5%** | **Guatemala: 0.5%** | **Guatemala: 0.5%** |
| 600000 <sup>(1)</sup> | Energuate Trust 2 0, 6.350%, 09/15/2035 |  | 604950 | 0.5 |
|  | **India: 0.2%** | **India: 0.2%** | **India: 0.2%** | **India: 0.2%** |
| 200000 <sup>(1)</sup> | IRB Infrastructure Developers Ltd., 7.110%, 03/11/2032 |  | 207750 | 0.2 |
|  | **Indonesia: 2.7%** | **Indonesia: 2.7%** | **Indonesia: 2.7%** | **Indonesia: 2.7%** |
| 500000 <sup>(1)</sup> | Hutama Karya Persero PT, 3.750%, 05/11/2030 |  | 484668 | 0.4 |
| 300000 <sup>(1)</sup> | Pertamina Persero PT, 3.100%, 01/21/2030 |  | 283875 | 0.2 |
| 550000 | Pertamina Persero PT, 5.625%, 05/20/2043 |  | 542107 | 0.4 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Indonesia: (continued)** | **Indonesia: (continued)** | **Indonesia: (continued)** | **Indonesia: (continued)** |
| 550000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 3.000%, 06/30/2030 | $| 514594 | 0.4 |
| 475000 <sup>(1)</sup> | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 |  | 473748 | 0.4 |
| 550000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 |  | 548551 | 0.5 |
| 500000 <sup>(1)</sup> | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 6.250%, 01/25/2049 |  | 518075 | 0.4 |
|  |  |  | **3365618** | **2.7** |
|  | **Kazakhstan: 0.4%** | **Kazakhstan: 0.4%** | **Kazakhstan: 0.4%** | **Kazakhstan: 0.4%** |
| 450000 <sup>(1)</sup> | Kaspi.KZ JSC, 6.250%, 03/26/2030 |  | 463028 | 0.4 |
|  | **Malaysia: 1.0%** | **Malaysia: 1.0%** | **Malaysia: 1.0%** | **Malaysia: 1.0%** |
| 300000 | Petronas Capital Ltd., 2.480%, 01/28/2032 |  | 270444 | 0.2 |
| 1050000 <sup>(1)</sup> | Petronas Capital Ltd., 4.800%, 04/21/2060 |  | 957075 | 0.8 |
|  |  |  | **1227519** | **1.0** |
|  | **Mexico: 7.5%** | **Mexico: 7.5%** | **Mexico: 7.5%** | **Mexico: 7.5%** |
| 550000 <sup>(1)</sup> | Banco Nacional de Comercio Exterior SNC/Cayman Islands, 4.375%, 10/14/2025 |  | 550138 | 0.4 |
| 825000 <sup>(1)</sup> | Banco Nacional de Comercio Exterior SNC/Cayman Islands, 5.875%, 05/07/2030 |  | 856523 | 0.7 |
| 650000 <sup>(1)(4)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 |  | 676260 | 0.6 |
| 575000 <sup>(1)</sup> | CFE Fibra E, 5.875%, 09/23/2040 |  | 578910 | 0.5 |
| 500000 <sup>(1)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 |  | 509375 | 0.4 |
| 700000 <sup>(1)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 |  | 716142 | 0.6 |
| 975000 <sup>(1)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 |  | 991087 | 0.8 |
| 300000 | Petroleos Mexicanos, 5.500%, 06/27/2044 |  | 231795 | 0.2 |
| 1825000 | Petroleos Mexicanos, 6.500%, 03/13/2027 |  | 1851006 | 1.5 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Mexico: (continued)** | **Mexico: (continued)** | **Mexico: (continued)** | **Mexico: (continued)** |
| 425000 | Petroleos Mexicanos, 6.500%, 01/23/2029 | $| 433288 | 0.4 |
| 960000 | Petroleos Mexicanos, 6.700%, 02/16/2032 |  | 954000 | 0.8 |
| 425000 | Petroleos Mexicanos, 6.750%, 09/21/2047 |  | 352707 | 0.3 |
| 500000 | Petroleos Mexicanos, 6.950%, 01/28/2060 |  | 413475 | 0.3 |
|  |  |  | **9114706** | **7.5** |
|  | **Morocco: 0.8%** | **Morocco: 0.8%** | **Morocco: 0.8%** | **Morocco: 0.8%** |
| 650000 <sup>(1)</sup> | OCP SA, 6.700%, 03/01/2036 |  | 696150 | 0.6 |
| 300000 <sup>(1)</sup> | OCP SA, 6.750%, 05/02/2034 |  | 327529 | 0.2 |
|  |  |  | **1023679** | **0.8** |
|  | **Oman: 0.9%** | **Oman: 0.9%** | **Oman: 0.9%** | **Oman: 0.9%** |
| 1100000 <sup>(1)(2)</sup> | OQ SAOC, 5.125%, 05/06/2028 |  | 1112782 | 0.9 |
|  | **Peru: 2.7%** | **Peru: 2.7%** | **Peru: 2.7%** | **Peru: 2.7%** |
| 790000 <sup>(1)(4)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 |  | 823575 | 0.6 |
| 400000 <sup>(1)</sup> | Corp Financiera de Desarrollo SA, 2.400%, 09/28/2027 |  | 384632 | 0.3 |
| 650000 <sup>(1)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 7.750%, 11/05/2038 |  | 715000 | 0.6 |
| 250000 | Petroleos del Peru SA, 4.750%, 06/19/2032 |  | 217938 | 0.2 |
| 800000 <sup>(1)</sup> | Petroleos del Peru SA, 5.625%, 06/19/2047 |  | 593400 | 0.5 |
| 575000 <sup>(1)(2)(4)</sup> | Scotiabank Peru SAA, 6.100%, 10/01/2035 |  | 599115 | 0.5 |
|  |  |  | **3333660** | **2.7** |
|  | **Poland: 1.9%** | **Poland: 1.9%** | **Poland: 1.9%** | **Poland: 1.9%** |
| 675000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 5.375%, 05/22/2033 |  | 698200 | 0.6 |
| 925000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 5.750%, 07/09/2034 |  | 974441 | 0.8 |
| 650000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 6.250%, 10/31/2028 |  | 689578 | 0.5 |
|  |  |  | **2362219** | **1.9** |
|  | **Qatar: 0.6%** | **Qatar: 0.6%** | **Qatar: 0.6%** | **Qatar: 0.6%** |
| 1000000 <sup>(1)</sup> | QatarEnergy, 3.300%, 07/12/2051 |  | 708189 | 0.6 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Saudi Arabia: 0.5%** | **Saudi Arabia: 0.5%** | **Saudi Arabia: 0.5%** |
| 550000 <sup>(1)</sup> | Greensaif Pipelines Bidco Sarl, 6.510%, 02/23/2042 | $596811 | 0.5 |
|  | **South Africa: 1.1%** | **South Africa: 1.1%** | **South Africa: 1.1%** |
| 500000 <sup>(1)</sup> | Bidvest Group UK PLC, 6.200%, 09/17/2032 | 503500 | 0.4 |
| 800000 <sup>(1)(2)</sup> | Eskom Holdings SOC Ltd., 6.350%, 08/10/2028 | 825788 | 0.7 |
|  |  | **1329288** | **1.1** |
|  | **Thailand: 0.7%** | **Thailand: 0.7%** | **Thailand: 0.7%** |
| 400000 <sup>(1)(4)</sup> | GC Treasury Center Co. Ltd., 6.500%, 12/31/2199 | 407100 | 0.3 |
| 400000 <sup>(1)(4)</sup> | GC Treasury Center Co. Ltd., 7.125%, 12/31/2199 | 414800 | 0.4 |
|  |  | **821900** | **0.7** |
|  | **Turkey: 0.5%** | **Turkey: 0.5%** | **Turkey: 0.5%** |
| 600000 <sup>(1)</sup> | TC Ziraat Bankasi AS, 7.250%, 02/04/2030 | 615804 | 0.5 |
|  | **United Arab Emirates: 1.4%** | **United Arab Emirates: 1.4%** | **United Arab Emirates: 1.4%** |
| 550000 | DP World Crescent Ltd., 3.875%, 07/18/2029 | 539334 | 0.4 |
| 725000 <sup>(1)</sup> | MDGH GMTN RSC Ltd., 4.375%, 11/22/2033 | 717388 | 0.6 |
| 400000 <sup>(1)</sup> | MDGH GMTN RSC Ltd., 5.500%, 04/28/2033 | 426960 | 0.4 |
|  |  | **1683682** | **1.4** |
|  | **Venezuela: 0.4%** | **Venezuela: 0.4%** | **Venezuela: 0.4%** |
| 1000000 <sup>(6)</sup> | Petroleos de Venezuela SA, 9.000%, 11/17/2021 | 160500 | 0.1 |
| 1750000 <sup>(6)</sup> | Petroleos de Venezuela SA, 9.750%, 05/17/2035 | 314125 | 0.3 |
|  |  | **474625** | **0.4** |
|  | Total Corporate Bonds/Notes <br> (Cost $37,145,639) | **39224490** | **32.1** |
| **U.S. TREASURY OBLIGATIONS: 0.4%** | **U.S. TREASURY OBLIGATIONS: 0.4%** | **U.S. TREASURY OBLIGATIONS: 0.4%** | **U.S. TREASURY OBLIGATIONS: 0.4%** |
|  | **United States Treasury Notes: 0.4%** | **United States Treasury Notes: 0.4%** | **United States Treasury Notes: 0.4%** |
| 490700 | 3.875%, 09/30/2032 | 489128 | 0.4 |
|  | Total U.S. Treasury Obligations <br> (Cost $488,247) | **489128** | **0.4** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. TREASURY OBLIGATIONS: (continued)** | **U.S. TREASURY OBLIGATIONS: (continued)** | **U.S. TREASURY OBLIGATIONS: (continued)** | **U.S. TREASURY OBLIGATIONS: (continued)** | **U.S. TREASURY OBLIGATIONS: (continued)** |
|  | **United States Treasury Notes: (continued)** | **United States Treasury Notes: (continued)** | **United States Treasury Notes: (continued)** | **United States Treasury Notes: (continued)** |
|  | Total Long-Term Investments <br> (Cost $105,154,414) | **$** | **113401562** | **92.9** |
| **SHORT-TERM INVESTMENTS: 9.6%** | **SHORT-TERM INVESTMENTS: 9.6%** | **SHORT-TERM INVESTMENTS: 9.6%** | **SHORT-TERM INVESTMENTS: 9.6%** | **SHORT-TERM INVESTMENTS: 9.6%** |
|  | **Commercial Paper: 6.0%** | **Commercial Paper: 6.0%** | **Commercial Paper: 6.0%** | **Commercial Paper: 6.0%** |
| 1500000 | Agilent Technologies, 4.290%, 10/02/2025 |  | 1499647 | 1.3 |
| 1200000 | Automatic Data Processing., 4.160%, 10/01/2025 |  | 1199863 | 1 |
| 1000000 | Bekshire Hathway., 4.340%, 10/10/2025 |  | 998813 | 0.8 |
| 1518000 | Concord Minutemen Capital Co. LLC, 4.180%, 10/02/2025 |  | 1517653 | 1.3 |
| 1000000 | Dominion Resources, Inc., 4.330%, 10/16/2025 |  | 998105 | 0.8 |
| 1000000 | Fiserv, Inc., 4.310%, 10/02/2025 |  | 999764 | 0.8 |
|  | Total Commercial Paper <br> (Cost $7,214,728) |  | **7213845** | **6.0** |
|  | **Repurchase Agreements: 2.7%** | **Repurchase Agreements: 2.7%** | **Repurchase Agreements: 2.7%** | **Repurchase Agreements: 2.7%** |
| 27998 <sup>(7)</sup> | Bank of America Securities Inc., Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $28,001, collateralized by various U.S. Government Securities, 0.000%-4.625%, Market Value plus accrued interest $28,558, due 11/15/41-05/15/54) |  | 27998 | 0 |
| 1000000 <sup>(7)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $1,000,115, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $1,020,012, due 08/27/27-09/01/55) |  | 1000000 | 0.8 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 1000000 <sup>(7)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.220%, due 10/01/2025 (Repurchase Amount $1,000,116, collateralized by various U.S. Government Agency Obligations, 1.923%-6.500%, Market Value plus accrued interest $1,020,000, due 08/01/32-06/01/64) | $1000000 | 0.8 |
| 99035 <sup>(7)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $99,046, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $101,016, due 12/31/31-05/31/32) | 99035 | 0.1 |
| 24570 <sup>(7)</sup> | Mizuho Securities USA LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $24,573, collateralized by various U.S. Government Securities, 0.750%-4.375%, Market Value plus accrued interest $25,061, due 05/31/26-09/30/32) | 24570 | 0.0 |
| 136924 <sup>(7)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $136,940, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $139,663, due 11/18/25-08/15/55) | 136924 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |
| 1000000 <sup>(7)</sup> | Nomura Securities International, Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $1,000,115, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $1,020,000, due 11/01/25-09/01/55) | $1000000 | 0.8 |
| 44070 <sup>(7)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $44,075, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $44,951, due 10/23/25-08/15/55) | 44070 | 0.1 |
|  | Total Repurchase Agreements<br> (Cost $3,332,597) | **3332597** | **2.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 0.9%** | |  |
| 1120000 <sup>(8)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 4.050% <br> (Cost $1,120,000) | $**1120000** | **0.9** |
|  | Total Short-Term Investments<br> (Cost $11,667,325) | **11666442** | **9.6** |
|  | **Total Investments in Securities <br> (Cost $116,821,739)** | $**125068004** | **102.5** |
|  | **Liabilities in Excess of Other Assets** | **(3050919)** | **(2.5)** |
|  | **Net Assets** | $**122017085** | **100.0** |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
| <sup>(2)</sup> | Security, or a portion of the security, is on loan. |
| <sup>(3)</sup> | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect the current and next coupon rate as of September 30, 2025. |
| <sup>(4)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>(5)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2025. |
| <sup>(6)</sup> | Defaulted security. |
| <sup>(7)</sup> | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| <sup>(8)</sup> | Rate shown is the 7-day yield as of September 30, 2025. |

---

---

| | |
|:---|:---|
| <br>**Sector Diversification** | **Percentage**<br>**of Net Assets** |
| Sovereign Bonds | 60.4% |
| Energy | 10.4 |
| Financial | 6.8 |
| Basic Materials | 5.6 |
| Utilities | 5.1 |
| Consumer, Non-cyclical | 2.1 |
| Industrial | 1.3 |
| Government | 0.8 |
| U.S. Treasury Obligations | 0.4 |
| Short-Term Investments | 9.6 |
| Liabilities in Excess of Other Assets | (2.5) |
| **Net Assets** | **100.0%** |

---

**Portfolio holdings are subject to change daily.**

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of September 30, 2025 (Unaudited) (continued)</u>

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** | <br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Sovereign Bonds | $— | $73687944 | $— | $73687944 |
| Corporate Bonds/Notes |  | 39224490 |  | 39224490 |
| U.S. Treasury Obligations |  | 489128 |  | 489128 |
| Short-Term Investments | 1120000 | 10546442 |  | 11666442 |
| Total Investments, at fair value | $1120000 | $123948004 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | $125068004 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 1374 |  |  | 1374 |
| Total Assets | $1121374 | $123948004 | $— | $125069378 |
| **Liabilities Table Other Financial Instruments+** |  |  |  |  |
| Futures | $(13197) | $— | $— | $(13197) |
| Total Liabilities | $(13197) | $— | $— | $(13197) |

---

---

| | |
|:---|:---|
| ^ | See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information. |
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following futures contracts were outstanding for Voya VACS Series EMHCD Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** |<br>**Number**<br>**of Contracts** |<br>**Expiration**<br>**Date** |<br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| Long Contracts: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 47 | 12/31/25 | $9794727 | $(3411) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | 20 | 12/19/25 | 2250000 | (2275) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 13 | 12/19/25 | 1560812 | (451) |
|  |  |  | $13605539 | $(6137) |
| Short Contracts: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | (38) | 12/31/25 | (4149422) | 1374 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (25) | 12/19/25 | (2876953) | (7060) |
|  |  |  | $(7026375) | $(5686) |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

---

| | | |
|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** | **Location on Statement**<br>**of Assets and Liabilities** |<br>**Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*</sup> | $1374 |
| **Total Asset Derivatives** |  | $1374 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $13197 |
| **Total Liability Derivatives** |  | $13197 |

---

\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

See Accompanying Notes to Financial Statements.

Voya VACS Series EMHCD Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $(212386) |
| **Total** | $(212386) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $43057 |
| **Total** | $43057 |

---

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for U.S. federal income tax purposes was $116,757,340.

---

| | |
|:---|:---|
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $8708010 |
| Gross Unrealized Depreciation | (409169) |
| Net Unrealized Appreciation | $8298841 |

---

See Accompanying Notes to Financial Statements.

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: 96.7%** | **CORPORATE BONDS/NOTES: 96.7%** | **CORPORATE BONDS/NOTES: 96.7%** | **CORPORATE BONDS/NOTES: 96.7%** |
|  | **Basic Materials: 4.9%** |  |  |
| 1300000 <sup>(1)</sup> | Avient Corp., 6.250%, 11/01/2031 | $1321155 | 0.4 |
| 600000 <sup>(1)</sup> | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 628482 | 0.2 |
| 765000 <sup>(1)</sup> | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 725430 | 0.2 |
| 750000 <sup>(1)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 773167 | 0.3 |
| 770000 | Celanese US Holdings LLC, 6.665%, 07/15/2027 | 790394 | 0.3 |
| 770000 <sup>(1)</sup> | Chemours Co., 5.750%, 11/15/2028 | 751751 | 0.2 |
| 900000 <sup>(1)</sup> | Chemours Co., 8.000%, 01/15/2033 | 895859 | 0.3 |
| 1455000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 1403047 | 0.5 |
| 925000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 953731 | 0.3 |
| 1250000 <sup>(1)</sup> | Constellium SE, 5.625%, 06/15/2028 | 1249128 | 0.4 |
| 1995000 <sup>(1)</sup> | New Gold, Inc., 6.875%, 04/01/2032 | 2091235 | 0.7 |
| 510000 <sup>(1)</sup> | NOVA Chemicals Corp., 7.000%, 12/01/2031 | 537761 | 0.2 |
| 785000 <sup>(1)</sup> | Novelis Corp., 3.875%, 08/15/2031 | 716327 | 0.2 |
| 455000 <sup>(1)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 439889 | 0.1 |
| 845000 <sup>(1)</sup> | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 768819 | 0.2 |
| 700000 <sup>(1)</sup> | Olin Corp., 5.000%, 02/01/2030 | 684384 | 0.2 |
| 480000 <sup>(2)</sup> | SPCM SA, 3.125%, 03/15/2027 | 468382 | 0.2 |
|  |  | **15198941** | **4.9** |
|  | **Communications: 9.5%** |  |  |
| 1205000 <sup>(1)</sup> | Arches Buyer, Inc., 4.250%, 06/01/2028 | 1181877 | 0.4 |
| 225000 <sup>(1)(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.250%, 01/15/2034 | 194667 | 0.1 |
| 2385000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 2254051 | 0.7 |
| 2065000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 1880577 | 0.6 |
| 1940000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 1922919 | 0.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | |
|  | **Communications: (continued)** |  |  |
| 660000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | $656093 | 0.2 |
| 230000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 229876 | 0.1 |
| 555000 <sup>(1)</sup> | CommScope, Inc., 4.750%, 09/01/2029 | 552131 | 0.2 |
| 1010000 <sup>(1)</sup> | Connect Finco Sarl / Connect US Finco LLC, 9.000%, 09/15/2029 | 1063181 | 0.3 |
| 1500000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 1483457 | 0.5 |
| 642000 <sup>(1)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 | 641764 | 0.2 |
| 865000 <sup>(1)</sup> | GCI LLC, 4.750%, 10/15/2028 | 841365 | 0.3 |
| 950000 <sup>(1)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 971387 | 0.3 |
| 1015000 | Lamar Media Corp., 4.000%, 02/15/2030 | 972620 | 0.3 |
| 1040000 <sup>(1)</sup> | Level 3 Financing, Inc., 4.000%, 04/15/2031 | 899350 | 0.3 |
| 365000 <sup>(1)</sup> | Level 3 Financing, Inc., 4.875%, 06/15/2029 | 344961 | 0.1 |
| 950000 <sup>(1)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 969014 | 0.3 |
| 1745000 <sup>(1)</sup> | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 1715752 | 0.6 |
| 1230000 <sup>(1)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 1183194 | 0.4 |
| 220000 <sup>(1)</sup> | Sirius XM Radio, Inc., 3.125%, 09/01/2026 | 217179 | 0.1 |
| 2880000 <sup>(1)</sup> | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 2868503 | 0.9 |
| 1380000 <sup>(1)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 1400191 | 0.5 |
| 1370000 <sup>(1)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 1331988 | 0.4 |
| 690000 <sup>(1)</sup> | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 652947 | 0.2 |
| 1390000 <sup>(1)</sup> | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/2028 | 1362777 | 0.4 |
| 400000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 376749 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Communications: (continued)** |  |  |
| 1285000 <sup>(1)</sup> | Windstream Escrow LLC / Windstream Escrow Finance Corp., 8.250%, 10/01/2031 | $1332097 | 0.4 |
|  |  | **29500667** | **9.5** |
|  | **Consumer, Cyclical: 18.7%** |  |  |
| 1300000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 | 1330949 | 0.4 |
| 600000 <sup>(1)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 | 621741 | 0.2 |
| 540000 <sup>(1)(2)</sup> | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 566766 | 0.2 |
| 830000 <sup>(1)</sup> | Advance Auto Parts, Inc., 7.000%, 08/01/2030 | 854575 | 0.3 |
| 665000 <sup>(1)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 686283 | 0.2 |
| 1215000 <sup>(1)</sup> | Allison Transmission, Inc., 5.875%, 06/01/2029 | 1226029 | 0.4 |
| 995000 <sup>(1)(2)</sup> | American Airlines, Inc., 7.250%, 02/15/2028 | 1020164 | 0.3 |
| 98750 <sup>(1)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 98877 | 0.0 |
| 975000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 983210 | 0.3 |
| 1680000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 1731243 | 0.6 |
| 1035000 <sup>(1)(2)</sup> | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 990350 | 0.3 |
| 1635000 <sup>(1)</sup> | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 1682811 | 0.5 |
| 1300000 <sup>(1)</sup> | Carnival Corp., 5.750%, 08/01/2032 | 1324606 | 0.4 |
| 925000 <sup>(1)</sup> | Carnival Corp., 6.000%, 05/01/2029 | 939399 | 0.3 |
| 1055000 <sup>(1)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | 1097409 | 0.4 |
| 1250000 <sup>(1)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 | 1278481 | 0.4 |
| 735000 <sup>(1)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 808350 | 0.3 |
| 635000 <sup>(1)</sup> | Gap, Inc., 3.625%, 10/01/2029 | 594939 | 0.2 |
| 835000 <sup>(1)</sup> | Gap, Inc., 3.875%, 10/01/2031 | 762866 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 865000 <sup>(1)</sup> | Garrett Motion Holdings, Inc. / Garrett LX I Sarl, 7.750%, 05/31/2032 | $908080 | 0.3 |
| 935000 <sup>(1)</sup> | Gates Corp., 6.875%, 07/01/2029 | 971372 | 0.3 |
| 1190000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 1208379 | 0.4 |
| 385000 <sup>(1)</sup> | Group 1 Automotive, Inc., 4.000%, 08/15/2028 | 374467 | 0.1 |
| 1155000 <sup>(1)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 1183770 | 0.4 |
| 1195000 <sup>(1)(2)</sup> | Hanesbrands, Inc., 9.000%, 02/15/2031 | 1266459 | 0.4 |
| 445000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.750%, 09/15/2033 | 451263 | 0.1 |
| 500000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 04/01/2029 | 510673 | 0.2 |
| 980000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | 1001081 | 0.3 |
| 796000 <sup>(1)</sup> | Installed Building Products, Inc., 5.750%, 02/01/2028 | 795382 | 0.3 |
| 990000 <sup>(1)</sup> | Interface, Inc., 5.500%, 12/01/2028 | 989224 | 0.3 |
| 1485000 <sup>(1)</sup> | International Game Technology PLC, 5.250%, 01/15/2029 | 1479392 | 0.5 |
| 1025000 <sup>(1)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 1027429 | 0.3 |
| 580000 <sup>(1)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 | 603628 | 0.2 |
| 270000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 237055 | 0.1 |
| 119000 <sup>(1)</sup> | Macy's Retail Holdings LLC, 5.875%, 03/15/2030 | 119062 | 0.0 |
| 765000 <sup>(1)</sup> | Macy's Retail Holdings LLC, 6.125%, 03/15/2032 | 766867 | 0.2 |
| 510000 | MGM Resorts International, 4.750%, 10/15/2028 | 506377 | 0.2 |
| 565000 | MGM Resorts International, 6.500%, 04/15/2032 | 575972 | 0.2 |
| 980000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 967686 | 0.3 |
| 160000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 160291 | 0.1 |
| 975000 <sup>(1)</sup> | NCL Corp. Ltd., 5.875%, 01/15/2031 | 975666 | 0.3 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 1370000 <sup>(1)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | $1409808 | 0.5 |
| 630000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 640559 | 0.2 |
| 740000 | Newell Brands, Inc., 6.625%, 05/15/2032 | 732162 | 0.2 |
| 550000 <sup>(1)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 583130 | 0.2 |
| 1040000 <sup>(2)</sup> | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 1082572 | 0.4 |
| 1215000 <sup>(1)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 1130464 | 0.4 |
| 1245000 <sup>(1)</sup> | SeaWorld Parks & Entertainment, Inc., 5.250%, 08/15/2029 | 1225134 | 0.4 |
| 1560000 <sup>(1)</sup> | Station Casinos LLC, 4.500%, 02/15/2028 | 1534845 | 0.5 |
| 845000 <sup>(1)</sup> | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 775007 | 0.3 |
| 605000 <sup>(1)</sup> | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 581482 | 0.2 |
| 760000 <sup>(1)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 761935 | 0.2 |
| 1145000 <sup>(1)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 1094612 | 0.4 |
| 1360000 <sup>(1)</sup> | Viking Cruises Ltd., 5.875%, 09/15/2027 | 1361420 | 0.4 |
| 1220000 <sup>(1)</sup> | Viking Cruises Ltd., 5.875%, 10/15/2033 | 1222381 | 0.4 |
| 400000 <sup>(1)</sup> | Viking Cruises Ltd., 7.000%, 02/15/2029 | 402285 | 0.1 |
| 1020000 <sup>(1)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 | 1079323 | 0.4 |
| 3500000 <sup>(2)</sup> | Warnermedia Holdings, Inc., 4.279%, 03/15/2032 | 3211250 | 1 |
| 555000 <sup>(1)</sup> | William Carter Co., 5.625%, 03/15/2027 | 556080 | 0.2 |
| 1195000 <sup>(1)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 1214329 | 0.4 |
| 1595000 | Yum! Brands, Inc., 3.625%, 03/15/2031 | 1491408 | 0.5 |
|  |  | **57768809** | **18.7** |
|  | **Consumer, Non-cyclical: 19.0%** |  |  |
| 1185000 <sup>(1)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 1176020 | 0.4 |
| 660000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | 626393 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 1365000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/2028 | $1366589 | 0.4 |
| 430000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 6.250%, 03/15/2033 | 440415 | 0.1 |
| 1315000 <sup>(1)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | 1363392 | 0.4 |
| 500000 <sup>(1)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 490729 | 0.2 |
| 1155000 <sup>(1)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 1133098 | 0.4 |
| 420000 <sup>(1)</sup> | APi Group DE, Inc., 4.125%, 07/15/2029 | 406367 | 0.1 |
| 450000 <sup>(1)</sup> | APi Group DE, Inc., 4.750%, 10/15/2029 | 441866 | 0.1 |
| 294000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 | 293764 | 0.1 |
| 1325000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 1371799 | 0.4 |
| 1115000 <sup>(1)</sup> | Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 | 1163433 | 0.4 |
| 1090000 <sup>(1)</sup> | BellRing Brands, Inc., 7.000%, 03/15/2030 | 1126849 | 0.4 |
| 935000 <sup>(1)</sup> | Belron UK Finance PLC, 5.750%, 10/15/2029 | 948033 | 0.3 |
| 760000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 782780 | 0.3 |
| 285000 <sup>(1)</sup> | Brink's Co., 6.750%, 06/15/2032 | 296692 | 0.1 |
| 720000 <sup>(1)</sup> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 651995 | 0.2 |
| 360000 <sup>(1)</sup> | CHS/Community Health Systems, Inc., 6.000%, 01/15/2029 | 349765 | 0.1 |
| 850000 <sup>(1)</sup> | Cimpress PLC, 7.375%, 09/15/2032 | 848100 | 0.3 |
| 1185000 <sup>(1)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 1231964 | 0.4 |
| 1090000 <sup>(1)</sup> | CPI CG, Inc., 10.000%, 07/15/2029 | 1143820 | 0.4 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 875000 <sup>(1)</sup> | DaVita, Inc., 3.750%, 02/15/2031 | $802032 | 0.3 |
| 1380000 <sup>(1)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | 1323695 | 0.4 |
| 450000 <sup>(1)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 464417 | 0.1 |
| 1215000 <sup>(1)(2)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 1151722 | 0.4 |
| 1405000 <sup>(1)</sup> | EquipmentShare. com, Inc., 8.000%, 03/15/2033 | 1502854 | 0.5 |
| 1300000 <sup>(1)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 1373616 | 0.4 |
| 170000 <sup>(1)</sup> | Garda World Security Corp., 4.625%, 02/15/2027 | 168863 | 0.1 |
| 1025000 <sup>(1)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 1055683 | 0.3 |
| 472000 <sup>(1)</sup> | Graham Holdings Co., 5.750%, 06/01/2026 | 472346 | 0.2 |
| 1140000 <sup>(1)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 1185077 | 0.4 |
| 590000 <sup>(1)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 616371 | 0.2 |
| 1205000 <sup>(1)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 1253841 | 0.4 |
| 1200000 <sup>(1)</sup> | Jazz Securities DAC, 4.375%, 01/15/2029 | 1170092 | 0.4 |
| 405000 <sup>(1)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 431989 | 0.1 |
| 1565000 <sup>(1)</sup> | LifePoint Health, Inc., 9.875%, 08/15/2030 | 1696754 | 0.5 |
| 2815000 <sup>(1)</sup> | Medline Borrower L.P., 5.250%, 10/01/2029 | 2792742 | 0.9 |
| 1500000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 1315266 | 0.4 |
| 200000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 6.750%, 05/15/2034 | 192027 | 0.1 |
| 760000 | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 765727 | 0.2 |
| 1285000 <sup>(1)</sup> | Post Holdings, Inc., 4.625%, 04/15/2030 | 1240240 | 0.4 |
| 430000 <sup>(1)</sup> | Post Holdings, Inc., 6.250%, 10/15/2034 | 434654 | 0.1 |
| 660000 <sup>(1)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 667794 | 0.2 |
| 735000 <sup>(1)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 6.250%, 04/01/2029 | 735462 | 0.2 |
| 1300000 <sup>(1)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 1339218 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 1190000 <sup>(1)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | $1191605 | 0.4 |
| 610000 <sup>(2)</sup> | Service Corp. International, 5.125%, 06/01/2029 | 611483 | 0.2 |
| 680000 | Service Corp. International, 5.750%, 10/15/2032 | 689743 | 0.2 |
| 1245000 <sup>(1)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 1288085 | 0.4 |
| 1580000 <sup>(1)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1517098 | 0.5 |
| 1115000 <sup>(1)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 1172164 | 0.4 |
| 815000 <sup>(1)</sup> | Star Parent, Inc., 9.000%, 10/01/2030 | 862631 | 0.3 |
| 850000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 849163 | 0.3 |
| 1425000 | Tenet Healthcare Corp., 6.125%, 10/01/2028 | 1427036 | 0.5 |
| 1705000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 1728882 | 0.6 |
| 720000 <sup>(1)</sup> | United Natural Foods, Inc., 6.750%, 10/15/2028 | 722175 | 0.2 |
| 910000 | United Rentals North America, Inc., 4.875%, 01/15/2028 | 908009 | 0.3 |
| 160000 | United Rentals North America, Inc., 5.500%, 05/15/2027 | 160139 | 0.1 |
| 330000 <sup>(1)</sup> | United Rentals North America, Inc., 6.125%, 03/15/2034 | 343554 | 0.1 |
| 760000 <sup>(1)</sup> | US Foods, Inc., 5.750%, 04/15/2033 | 765880 | 0.2 |
| 1050000 <sup>(1)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 1107120 | 0.4 |
| 410000 <sup>(1)</sup> | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 403479 | 0.1 |
| 1095000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 1128102 | 0.4 |
| 240000 <sup>(1)</sup> | Williams Scotsman, Inc., 7.375%, 10/01/2031 | 250792 | 0.1 |
|  |  | **58933485** | **19.0** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: 11.2%** | **Energy: 11.2%** | **Energy: 11.2%** |
| 770000 <sup>(1)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | $767744 | 0.3 |
| 965000 <sup>(1)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 967044 | 0.3 |
| 79000 <sup>(1)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.875%, 04/01/2027 | 79062 | 0.0 |
| 1640000 <sup>(1)</sup> | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/2029 | 1637895 | 0.5 |
| 1380000 <sup>(1)(2)</sup> | Baytex Energy Corp., 8.500%, 04/30/2030 | 1419950 | 0.5 |
| 915000 <sup>(1)(2)</sup> | Civitas Resources, Inc., 8.750%, 07/01/2031 | 938571 | 0.3 |
| 1270000 <sup>(1)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 1262098 | 0.4 |
| 745000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 748455 | 0.2 |
| 955000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 996590 | 0.3 |
| 425000 <sup>(1)</sup> | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 431909 | 0.1 |
| 1250000 <sup>(1)</sup> | Enerflex Ltd., 9.000%, 10/15/2027 | 1277095 | 0.4 |
| 1150000 <sup>(1)</sup> | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 1213778 | 0.4 |
| 385000 <sup>(1)</sup> | Harvest Midstream I L.P., 7.500%, 09/01/2028 | 389440 | 0.1 |
| 370000 <sup>(1)</sup> | Harvest Midstream I L.P., 7.500%, 05/15/2032 | 379183 | 0.1 |
| 545000 <sup>(1)</sup> | Hess Midstream Operations L.P., 5.500%, 10/15/2030 | 549349 | 0.2 |
| 660000 <sup>(1)</sup> | Hess Midstream Operations L.P., 5.875%, 03/01/2028 | 673203 | 0.2 |
| 530000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 522817 | 0.2 |
| 245000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 236869 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** |  |  |
| 535000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.250%, 04/15/2032 | $513621 | 0.2 |
| 160000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.875%, 05/15/2034 | 154366 | 0.1 |
| 535000 <sup>(1)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | 555755 | 0.2 |
| 1565000 <sup>(1)</sup> | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 1575276 | 0.5 |
| 1205000 <sup>(1)</sup> | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 1251254 | 0.4 |
| 1055000 <sup>(1)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 1091234 | 0.4 |
| 910000 <sup>(1)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 931181 | 0.3 |
| 895000 <sup>(1)</sup> | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 899677 | 0.3 |
| 405000 <sup>(1)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 412845 | 0.1 |
| 415000 | SM Energy Co., 6.625%, 01/15/2027 | 415175 | 0.1 |
| 250000 <sup>(1)</sup> | SM Energy Co., 7.000%, 08/01/2032 | 250375 | 0.1 |
| 1625000 <sup>(1)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 1634282 | 0.5 |
| 1050000 <sup>(1)</sup> | Sunoco L.P., 5.875%, 03/15/2034 | 1041565 | 0.3 |
| 1015000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 978061 | 0.3 |
| 410000 <sup>(1)</sup> | Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp., 6.000%, 03/01/2027 | 410160 | 0.1 |
| 975000 | Transocean International Ltd., 7.875%, 10/15/2032 | 983063 | 0.3 |
| 204750 <sup>(1)</sup> | Transocean Poseidon Ltd., 6.875%, 02/01/2027 | 205161 | 0.1 |
| 125476 <sup>(1)</sup> | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 128902 | 0.0 |
| 1400000 <sup>(1)(2)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 1449686 | 0.5 |
| 1500000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 1553655 | 0.5 |
| 1565000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 1644307 | 0.5 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: (continued)** |  |  |
| 1050000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 | $1105947 | 0.4 |
| 1045000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 1110628 | 0.4 |
|  |  | **34787228** | **11.2** |
|  | **Financial: 11.8%** |  |  |
| 300000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 6.750%, 07/01/2032 | 309151 | 0.1 |
| 1420000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 1480393 | 0.5 |
| 750000 <sup>(1)</sup> | AG Issuer LLC, 6.250%, 03/01/2028 | 752012 | 0.2 |
| 2235000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 2287931 | 0.7 |
| 295000 | Ally Financial, Inc., 5.750%, 11/20/2025 | 295183 | 0.1 |
| 670000 <sup>(2)</sup> | Ally Financial, Inc., 6.700%, 02/14/2033 | 698292 | 0.2 |
| 1400000 <sup>(1)</sup> | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 1408496 | 0.5 |
| 1345000 <sup>(1)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 1378427 | 0.4 |
| 380000 <sup>(1)</sup> | Freedom Mortgage Corp., 6.625%, 01/15/2027 | 379477 | 0.1 |
| 750000 <sup>(1)</sup> | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 837290 | 0.3 |
| 955000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 8.375%, 04/01/2032 | 1001776 | 0.3 |
| 1760000 <sup>(1)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 1769975 | 0.6 |
| 2010000 <sup>(1)</sup> | Iron Mountain, Inc., 5.250%, 07/15/2030 | 1989120 | 0.6 |
| 610000 <sup>(1)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 622667 | 0.2 |
| 410000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 4.500%, 11/15/2029 | 400597 | 0.1 |
| 1530000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 6.125%, 11/01/2032 | 1551893 | 0.5 |
| 825000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 778586 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Financial: (continued)** |  |  |
| 780000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | $775262 | 0.3 |
| 405000 <sup>(1)</sup> | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 405000 | 0.1 |
| 1060000 | Navient Corp., 4.875%, 03/15/2028 | 1040103 | 0.3 |
| 1770000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 1751402 | 0.6 |
| 945000 | OneMain Finance Corp., 6.500%, 03/15/2033 | 947674 | 0.3 |
| 100000 | OneMain Finance Corp., 7.125%, 03/15/2026 | 100977 | 0.0 |
| 1760000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 1831840 | 0.6 |
| 1480000 <sup>(1)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 1526907 | 0.5 |
| 955000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 | 987338 | 0.3 |
| 955000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.875%, 12/15/2029 | 1014202 | 0.3 |
| 1030000 <sup>(1)</sup> | PRA Group, Inc., 5.000%, 10/01/2029 | 957371 | 0.3 |
| 550000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 04/01/2032 | 565859 | 0.2 |
| 530000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 06/15/2033 | 546199 | 0.2 |
| 955000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 985913 | 0.3 |
| 220000 <sup>(1)</sup> | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 217959 | 0.1 |
| 1350000 <sup>(1)</sup> | Rocket Cos., Inc., 6.125%, 08/01/2030 | 1386524 | 0.5 |
| 1700000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 1756719 | 0.6 |
| 640000 <sup>(1)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 662489 | 0.2 |
| 1090000 <sup>(1)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 1128056 | 0.4 |
|  |  | **36529060** | **11.8** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: 13.7%** |  |  |
| 840000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | $865317 | 0.3 |
| 1060000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 1104238 | 0.4 |
| 710000 <sup>(1)</sup> | Amsted Industries, Inc., 6.375%, 03/15/2033 | 729355 | 0.2 |
| 800000 <sup>(1)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 | 836254 | 0.3 |
| 950000 <sup>(1)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | 992568 | 0.3 |
| 855000 <sup>(1)</sup> | Bombardier, Inc., 7.500%, 02/01/2029 | 892316 | 0.3 |
| 1185000 <sup>(1)</sup> | Brundage-Bone Concrete Pumping Holdings, Inc., 7.500%, 02/01/2032 | 1198279 | 0.4 |
| 1765000 <sup>(1)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 | 1826018 | 0.6 |
| 1090000 <sup>(1)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 1084192 | 0.4 |
| 1380000 <sup>(1)</sup> | Chart Industries, Inc., 7.500%, 01/01/2030 | 1437939 | 0.5 |
| 1060000 <sup>(1)</sup> | Clean Harbors, Inc., 6.375%, 02/01/2031 | 1086393 | 0.4 |
| 1580000 <sup>(1)</sup> | Clydesdale Acquisition Holdings, Inc., 6.750%, 04/15/2032 | 1622020 | 0.5 |
| 730000 <sup>(1)</sup> | Crown Americas LLC, 5.875%, 06/01/2033 | 738016 | 0.2 |
| 1830000 <sup>(1)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 1883434 | 0.6 |
| 925000 <sup>(1)</sup> | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 910228 | 0.3 |
| 915000 <sup>(1)(2)</sup> | Energizer Holdings, Inc., 6.000%, 09/15/2033 | 896036 | 0.3 |
| 1330000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | 1331382 | 0.4 |
| 430000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 433088 | 0.1 |
| 670000 <sup>(1)</sup> | GFL Environmental, Inc., 4.000%, 08/01/2028 | 654755 | 0.2 |
| 918000 <sup>(1)</sup> | GFL Environmental, Inc., 4.375%, 08/15/2029 | 896417 | 0.3 |
| 475000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 467141 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 685000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | $725395 | 0.2 |
| 585000 <sup>(1)</sup> | Graham Packaging Co., Inc., 7.125%, 08/15/2028 | 587049 | 0.2 |
| 1505000 <sup>(1)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 1465117 | 0.5 |
| 130000 <sup>(1)</sup> | Owens-Brockway Glass Container, Inc., 6.625%, | 129870 | 0.0 |
| 1225000 <sup>(1)</sup> | 05/13/2027 Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 1248552 | 0.4 |
| 2095000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2171727 | 0.7 |
| 685000 <sup>(1)</sup> | Sealed Air Corp., 4.000%, 12/01/2027 | 672825 | 0.2 |
| 695000 <sup>(1)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 705145 | 0.2 |
| 1305000 <sup>(1)</sup> | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 1205538 | 0.4 |
| 1605000 <sup>(1)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 1696377 | 0.6 |
| 815000 <sup>(1)</sup> | Standard Industries, Inc., 3.375%, 01/15/2031 | 738747 | 0.2 |
| 1130000 <sup>(1)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | 1084155 | 0.4 |
| 1205000 <sup>(1)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 | 1269898 | 0.4 |
| 765000 <sup>(1)</sup> | Terex Corp., 6.250%, 10/15/2032 | 779930 | 0.3 |
| 745000 <sup>(1)</sup> | TransDigm, Inc., 6.000%, 01/15/2033 | 753912 | 0.2 |
| 355000 <sup>(1)</sup> | TransDigm, Inc., 6.250%, 01/31/2034 | 365353 | 0.1 |
| 630000 <sup>(1)</sup> | TransDigm, Inc., 6.375%, 05/31/2033 | 638658 | 0.2 |
| 1185000 <sup>(1)</sup> | TransDigm, Inc., 6.625%, 03/01/2032 | 1221492 | 0.4 |
| 1035000 <sup>(1)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 1070888 | 0.3 |
| 935000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 970808 | 0.3 |
| 1050000 <sup>(1)</sup> | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 1029038 | 0.3 |
| 60000 <sup>(1)</sup> | WESCO Distribution, Inc., 6.375%, 03/15/2033 | 62240 | 0.0 |
|  |  | **42478100** | **13.7** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Technology: 5.2%** | **Technology: 5.2%** | **Technology: 5.2%** |
| 995000 <sup>(1)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 | $1033965 | 0.3 |
| 995000 <sup>(1)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 1027637 | 0.3 |
| 2265000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 2287923 | 0.7 |
| 1035000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.625%, 08/15/2033 | 1054654 | 0.4 |
| 1200000 <sup>(1)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 1240805 | 0.4 |
| 720000 <sup>(1)</sup> | Entegris Escrow Corp., 5.950%, 06/15/2030 | 730969 | 0.2 |
| 625000 <sup>(1)</sup> | Entegris, Inc., 3.625%, 05/01/2029 | 594734 | 0.2 |
| 600000 <sup>(1)</sup> | Fair Isaac Corp., 6.000%, 05/15/2033 | 608966 | 0.2 |
| 1095000 <sup>(1)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 1147879 | 0.4 |
| 1025000 <sup>(1)</sup> | McAfee Corp., 7.375%, 02/15/2030 | 951975 | 0.3 |
| 1035000 <sup>(1)</sup> | NCR Atleos Escrow Corp., 9.500%, 04/01/2029 | 1121171 | 0.4 |
| 570000 <sup>(1)</sup> | Open Text Corp., 3.875%, 12/01/2029 | 539482 | 0.2 |
| 1145000 <sup>(1)</sup> | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 1086086 | 0.4 |
| 1110000 <sup>(1)(2)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | 1020129 | 0.3 |
| 1430000 <sup>(1)</sup> | UKG, Inc., 6.875%, 02/01/2031 | 1476604 | 0.5 |
|  |  | **15922979** | **5.2** |
|  | **Utilities: 2.7%** |  |  |
| 995000 <sup>(1)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 | 1027835 | 0.3 |
| 360000 <sup>(1)</sup> | Calpine Corp., 4.500%, 02/15/2028 | 358721 | 0.1 |
| 771000 <sup>(1)</sup> | Calpine Corp., 5.000%, 02/01/2031 | 769228 | 0.3 |
| 675000 <sup>(1)</sup> | Calpine Corp., 5.125%, 03/15/2028 | 675844 | 0.2 |
| 1090000 <sup>(1)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 | 1154791 | 0.4 |
| 885000 <sup>(1)</sup> | NRG Energy, Inc., 3.625%, 02/15/2031 | 818943 | 0.3 |
| 300000 <sup>(1)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 | 304898 | 0.1 |
| 365000 <sup>(1)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 | 374386 | 0.1 |
| 690000 | TransAlta Corp., 7.750%, 11/15/2029 | 717973 | 0.2 |
| 345000 <sup>(1)</sup> | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 338030 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** |  |  |
| 435000 <sup>(1)</sup> | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | $434987 | 0.2 |
| 225000 <sup>(1)</sup> | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 225305 | 0.1 |
| 990000 <sup>(1)</sup> | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | 1048328 | 0.3 |
|  |  | **8249269** | **2.7** |
|  | Total Corporate Bonds/ Notes |  |  |
|  | (Cost $293,387,114) | **299368538** | **96.7** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $293,387,114) | **299368538** | **96.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: 6.1%** | **SHORT-TERM INVESTMENTS: 6.1%** | **SHORT-TERM INVESTMENTS: 6.1%** | **SHORT-TERM INVESTMENTS: 6.1%** |
|  | **Commercial Paper: 2.1%** |  |  |
| 1000000 | Automatic Data Processing., 4.160%, 10/01/2025 | 999886 | 0.3 |
| 2000000 | Concord Minutemen Capital Co. LLC, 4.180%, 10/01/2025 | 1999771 | 0.7 |
| 2000000 | Entergy Corp., 4.270%, 10/01/2025 | 1999766 | 0.6 |
| 1500000 | Fiserv, Inc., 4.310%, 10/02/2025 | 1499645 | 0.5 |
|  | Total Commercial Paper |  |  |
|  | (Cost $6,499,824) | **6499068** | **2.1** |
|  | **Repurchase Agreements: 3.2%** |  |  |
| 2648428 <sup>(3)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $2,648,733, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.500%, Market Value plus accrued interest $2,701,429, due 08/27/27-09/01/55) | 2648428 | 0.9 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |  |  |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 111996 <sup>(3)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $112,009, collateralized by various U.S. Government Securities, 0.000%-4.000%, Market Value plus accrued interest $114,236, due 07/15/26-08/15/54) | $111996 | 0.0 |
| 2648428 <sup>(3)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 09/30/2025, 4.220%, due 10/01/2025 (Repurchase Amount $2,648,734, collateralized by various U.S. Government Agency Obligations, 1.923%-6.500%, Market Value plus accrued interest $2,701,397, due 08/01/32-06/01/64) | 2648428 | 0.9 |
| 210998 <sup>(3)</sup> | J.P. Morgan Securities LLC, Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $211,022, collateralized by various U.S. Government Securities, 4.125%-4.500%, Market Value plus accrued interest $215,218, due 12/31/31-05/31/32) | 210998 | 0.1 |
| 291719 <sup>(3)</sup> | Natwest Markets Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $291,752, collateralized by various U.S. Government Securities, 0.000%-6.625%, Market Value plus accrued interest $297,553, due 11/18/25-08/15/55) | 291719 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |  |  |
|  | **Repurchase Agreements (continued)** | **Repurchase Agreements (continued)** |  |
| 1327623 <sup>(3)</sup> | Nomura Securities International, Inc., Repurchase Agreement dated 09/30/2025, 4.210%, due 10/01/2025 (Repurchase Amount $1,327,776, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $1,354,175, due 11/01/25-09/01/55) | $1327623 | 0.4 |
| 2545521 <sup>(3)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.200%, due 10/01/2025 (Repurchase Amount $2,545,814, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.625%-7.000%, Market Value plus accrued interest $2,596,432, due 01/15/29-10/01/55) | 2545521 | 0.8 |
| 93892 <sup>(3)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 09/30/2025, 4.190%, due 10/01/2025 (Repurchase Amount $93,903, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $95,770, due 10/23/25-08/15/55) | 93892 | 0.0 |
|  | Total Repurchase Agreements |  |  |
|  | (Cost $9,878,605) | **9878605** | **3.2** |
|  | **Time Deposits: 0.6%** |  |  |
| 280000 <sup>(3)</sup> | Canadian Imperial Bank of Commerce, 4.090%, 10/01/2025 | 280000 | 0.1 |
| 260000 <sup>(3)</sup> | DZ Bank AG, 4.080%, 10/01/2025 | 260000 | 0.0 |
| 260000 <sup>(3)</sup> | HSBC BANK PLC, 4.130%, 10/01/2025 | 260000 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Time Deposits (continued)** |  |  |
| 270000 <sup>(3)</sup> | Landesbank Hessen Thueringen Girozentrale, 4.100%, 10/01/2025 | $270000 | 0.1 |
| 280000 <sup>(3)</sup> | Mizuho Bank Ltd., 4.100%, 10/01/2025 | 280000 | 0.1 |
| 280000 <sup>(3)</sup> | Royal Bank of Canada, 4.140%, 10/01/2025 | 280000 | 0.1 |
| 280000 <sup>(3)</sup> | Societe Generale S.A., 4.090%, 10/01/2025 | 280000 | 0.1 |
|  | Total Time Deposits |  |  |
|  | (Cost $1,910,000) | **1910000** | **0.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 0.2%** |  |  |
| 597000 <sup>(4)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 4.050% |  |  |
|  | (Cost $597,000) | $**597000** | **0.2** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $18,885,429) | **18884673** | **6.1** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $312,272,543)** | $**318253211** | **102.8** |
|  | **Liabilities in Excess of Other Assets** | **(8705599)** | **(2.8)** |
|  | **Net Assets** | $**309547612** | **100.0** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |

---

<sup>(1)</sup> Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.

<sup>(2)</sup> Security, or a portion of the security, is on loan.

<sup>(3)</sup> All or a portion of the security represents securities purchased with cash collateral received for securities on loan.

<sup>(4)</sup> Rate shown is the 7-day yield as of September 30, 2025.

See Accompanying Notes to Financial Statements

Voya VACS SERIES HYB Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $299368538 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $299368538 |
| Short-Term Investments | 597000 | 18287673 |  | 18884673 |
| Total Investments, at fair value | $597000 | $317656211 | $— | $318253211 |

---

<sup>^</sup> See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

At September 30, 2025, the aggregate cost of securities and other investments for federal income tax purposes was the same as for financial statement purposes. The composition of unrealized appreciation and depreciation of securities and other investments was:

---

| | |
|:---|:---|
| Cost for U.S. federal income tax purposes was $312,283,487. |  |
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $6093314 |
| Gross Unrealized Depreciation | (123590) |
| Net Unrealized Appreciation | $5969724 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 37.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 37.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 37.4%** |  |
| 422109 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2015-1 B4, 3.625%, 01/25/2045 | $339930 | 0.2 |
| 270059 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2016-2 B3, 3.753%, 03/25/2046 | 256784 | 0.1 |
| 903444 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 861102 | 0.5 |
| 451722 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 437624 | 0.2 |
| 548652 <sup>(1)(2)</sup> | Bayview MSR Opportunity Master Fund Trust 2021-5 B3A, 3.481%, 11/25/2051 | 473023 | 0.3 |
| 576774 <sup>(1)(2)</sup> | Bayview MSR Opportunity Master Fund Trust 2022-2 B3A, 3.395%, 12/25/2051 | 484425 | 0.3 |
| 703902 <sup>(1)(2)</sup> | Bayview Opportunity Master Fund VI Trust 2021-6 B3A, 3.384%, 10/25/2051 | 595907 | 0.3 |
| 320778 <sup>(2)</sup> | Bear Stearns ALT-A Trust 2005-9 26A1, 4.217%, 11/25/2035 | 172463 | 0.1 |
| 1053181 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust 2024-8 A9A, 5.500%, 08/25/2055 | 1051972 | 0.6 |
| 341017 <sup>(1)(2)</sup> | CIM Trust 2021-J1 A19, 2.500%, 03/25/2051 | 281289 | 0.1 |
| 413340 <sup>(1)(2)</sup> | Citigroup Mortgage Loan Trust 2021-J3 B3W, 2.861%, 09/25/2051 | 340983 | 0.2 |
| 986420 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2024-CMI1 B2, 6.410%, 06/25/2054 | 998801 | 0.5 |
| 864767 <sup>(1)(2)</sup> | COLT Mortgage Loan Trust 2021-1 A1, 0.910%, 06/25/2066 | 752235 | 0.4 |
| 873330 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 8.121%, (SOFR30A + 3.764%), 02/25/2040 | 905722 | 0.5 |
| 1054019 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2022-R01 1B1, 7.506%, (SOFR30A + 3.150%), 12/25/2041 | 1079963 | 0.6 |
| 602296 <sup>(1)(2)</sup> | Deephaven Residential Mortgage Trust 2021-4 M1, 3.257%, 11/25/2066 | 469099 | 0.3 |
| 974299 <sup>(1)</sup> | EFMT 2024-RM3 A1A, 5.000%, 12/25/2054 | 949746 | 0.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 602296 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 7.471%, (SOFR30A + 3.114%), 01/25/2040 | $616339 | 0.3 |
| 301148 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 7.656%, (SOFR30A + 3.300%), 11/25/2041 | 307275 | 0.2 |
| 1761717 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R02 1B1, 9.906%, (SOFR30A + 5.550%), 01/25/2043 | 1909706 | 1 |
| 500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 9.106%, (SOFR30A + 4.750%), 06/25/2043 | 537631 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1M2, 6.006%, (SOFR30A + 1.650%), 05/25/2044 | 1003439 | 0.5 |
| 500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 6.306%, (SOFR30A + 1.950%), 02/25/2045 | 501994 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R03 2M2, 6.606%, (SOFR30A + 2.250%), 03/25/2045 | 1018314 | 0.5 |
| 377084 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.133%, 07/25/2048 | 348693 | 0.2 |
| 1324240 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.173%, 03/25/2050 | 1223304 | 0.7 |
| 660008 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B3, 4.173%, 03/25/2050 | 605135 | 0.3 |
| 1505741 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 8.106%, (SOFR30A + 3.750%), 12/25/2041 | 1545824 | 0.8 |
| 3011482 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 7.756%, (SOFR30A + 3.400%), 01/25/2042 | 3083325 | 1.7 |
| 2845850 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 9.106%, (SOFR30A + 4.750%), 02/25/2042 | 2966599 | 1.6 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 1500000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 M2, 8.106%, (SOFR30A + 3.750%), 02/25/2042 | $1551188 | 0.8 |
| 400000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 6.156%, (SOFR30A + 1.800%), 08/25/2044 | 402472 | 0.2 |
| 476407 <sup>(1)(2)</sup> | GCAT Trust 2022-INV3 B1, 4.604%, 08/25/2052 | 449267 | 0.2 |
| 589441 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 B3, 3.610%, 05/25/2050 | 522323 | 0.3 |
| 920150 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.971%, 03/25/2050 | 855289 | 0.5 |
| 788363 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B3, 3.971%, 03/25/2050 | 730912 | 0.4 |
| 1196931 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2022- PJ5 B3, 2.982%, 10/25/2052 | 1002611 | 0.5 |
| 722377 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2023- PJ4 A3, 6.000%, 01/25/2054 | 732862 | 0.4 |
| 1404240 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2024- INV1 B3, 6.612%, 02/25/2055 | 1428273 | 0.8 |
| 1100000 <sup>(1)</sup> | GS Mortgage-Backed Securities Trust 2025- PJ6 A14, 5.500%, 11/25/2055 | 1093104 | 0.6 |
| 685583 <sup>(1)(2)</sup> | Hundred Acre Wood Trust 2021-INV3 B3, 3.319%, 12/25/2051 | 585560 | 0.3 |
| 451722 <sup>(1)(2)</sup> | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 362533 | 0.2 |
| 604180 <sup>(2)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 4.692%, (TSFR1M + 0.534%), 02/25/2046 | 461304 | 0.2 |
| 195895 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.606%, 06/25/2049 | 188565 | 0.1 |
| 411010 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.148%, 05/25/2052 | 337327 | 0.2 |
| 470428 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2022-1 B3, 3.087%, 07/25/2052 | 383063 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |  |
| 1115209 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2022-6 B3, 3.284%, 11/25/2052 | $929120 | 0.5 |
| 758274 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2023-2 B3, 5.611%, 07/25/2053 | 723233 | 0.4 |
| 277666 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2014-1 B5, 3.687%, 01/25/2044 | 239534 | 0.1 |
| 834759 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 749145 | 0.4 |
| 342839 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-4 B2, 3.874%, 11/25/2048 | 317192 | 0.2 |
| 349947 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-6 B4, 3.778%, 12/25/2048 | 318341 | 0.2 |
| 371603 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-3 B2, 3.706%, 09/25/2048 | 339409 | 0.2 |
| 526533 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-3 B3, 3.706%, 09/25/2048 | 480915 | 0.3 |
| 540319 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.715%, 10/25/2048 | 498044 | 0.3 |
| 761422 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-7 B3A, 3.203%, 02/25/2050 | 677086 | 0.4 |
| 767549 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-8 B3A, 3.393%, 03/25/2050 | 687274 | 0.4 |
| 802482 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-HYB1 B1, 4.946%, 10/25/2049 | 812821 | 0.4 |
| 438455 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV1 B2, 4.925%, 09/25/2049 | 429434 | 0.2 |
| 925061 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV3 B3, 4.351%, 05/25/2050 | 862415 | 0.5 |
| 399439 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.678%, 12/25/2049 | 388624 | 0.2 |
| 399439 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.678%, 12/25/2049 | 387642 | 0.2 |
| 656442 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV3 B3, 4.335%, 03/25/2050 | 613427 | 0.3 |
| 659491 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-5 B1, 3.574%, 12/25/2050 | 591102 | 0.3 |
| 389857 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-8 B3, 3.488%, 03/25/2051 | 343688 | 0.2 |
| 315759 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 | 259796 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 971526 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.294%, 05/25/2054 | $966080 | 0.5 |
| 831809 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-12 A9, 6.150%, 06/25/2055 | 844283 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-CCM1 A5A, 5.500%, 04/25/2055 | 998786 | 0.5 |
| 459187 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2025-CCM1 A2, 5.500%, 06/25/2055 | 461679 | 0.2 |
| 1100000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2025-3 M1, 6.783%, 09/25/2055 | 1121065 | 0.6 |
| 192639 <sup>(1)(2)</sup> | JP Morgan Trust 2015-1 B3, 5.662%, 12/25/2044 | 188923 | 0.1 |
| 537006 <sup>(1)(2)</sup> | Mello Mortgage Capital Acceptance 2018-MTG2 B2, 4.251%, 10/25/2048 | 515248 | 0.3 |
| 1050706 <sup>(1)(2)</sup> | MFA Trust 2021-INV2 M1, 3.199%, 11/25/2056 | 847655 | 0.5 |
| 542067 <sup>(1)(2)</sup> | Mill City Mortgage Trust 2015-2 B2, 3.701%, 09/25/2057 | 505581 | 0.3 |
| 372437 <sup>(1)(2)</sup> | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 364860 | 0.2 |
| 1144363 <sup>(1)(2)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.706%, (SOFR30A + 3.350%), 04/25/2034 | 1163768 | 0.6 |
| 372837 <sup>(1)(2)</sup> | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 307884 | 0.2 |
| 1052049 <sup>(1)(2)</sup> | Oceanview Mortgage Trust 2021-5 B3, 2.968%, 10/25/2051 | 867261 | 0.5 |
| 948822 <sup>(1)(2)</sup> | PRET Trust 2025-RPL2 A1, 4.000%, 08/25/2064 | 920070 | 0.5 |
| 525623 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2020-1 B2A, 3.473%, 02/25/2050 | 477388 | 0.3 |
| 444508 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2017-2 B2, 3.551%, 02/25/2047 | 419787 | 0.2 |
| 343700 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-2 B3, 4.260%, 06/25/2049 | 323018 | 0.2 |
| 440439 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH2 B2B, 4.802%, 08/25/2049 | 435640 | 0.2 |
| 798798 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 B1B, 4.500%, 09/25/2049 | 768539 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)** |
| 470389 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 B2B, 4.500%, 09/25/2049 | $450653 | 0.2 |
| 654137 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-2 B3, 3.633%, 03/25/2050 | 585264 | 0.3 |
| 526333 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-3 B3, 3.304%, 04/25/2050 | 458477 | 0.2 |
| 685673 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2021-7 B3, 2.864%, 11/25/2051 | 574266 | 0.3 |
| 601735 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2023-1 B2, 5.131%, 01/25/2053 | 570060 | 0.3 |
| 608274 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2024-2 A19, 6.000%, 03/25/2054 | 614005 | 0.3 |
| 997018 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2025-6 B3, 6.223%, 07/25/2055 | 976079 | 0.5 |
| 312431 <sup>(1)(2)</sup> | Shellpoint Co.-Originator Trust 2017-2 B3, 3.618%, 10/25/2047 | 290945 | 0.2 |
| 199418 <sup>(1)(2)</sup> | STAR Trust 2021-1 A3, 1.528%, 05/25/2065 | 186552 | 0.1 |
| 903444 <sup>(1)(2)</sup> | Starwood Mortgage Residential Trust 2020-1 M1, 2.878%, 02/25/2050 | 807101 | 0.4 |
| 602296 <sup>(1)(2)</sup> | Starwood Mortgage Residential Trust 2020-3 A2, 2.240%, 04/25/2065 | 569884 | 0.3 |
| 1071274 <sup>(2)</sup> | TBW Mortgage-Backed Trust 2006-6 A5B, 6.540%, 01/25/2037 | 227319 | 0.1 |
| 331263 <sup>(1)(2)</sup> | Towd Point Mortgage Trust 2015-2 2B2, 4.905%, 11/25/2057 | 330150 | 0.2 |
| 546075 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV1 B1, 3.150%, 08/25/2051 | 466575 | 0.2 |
| 414705 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV4 B3, 3.214%, 12/25/2051 | 341035 | 0.2 |
| 1356015 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV5 B3, 3.227%, 01/25/2052 | 1138086 | 0.6 |
| 243986 <sup>(1)(2)</sup> | Verus Securitization Trust 2021-3 A1, 1.046%, 06/25/2066 | 215057 | 0.1 |
| 556354 <sup>(1)(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.363%, 12/25/2049 | 490700 | 0.3 |
|  | Total Collateralized Mortgage Obligations |  |  |
|  | (Cost $65,191,531) | **69643264** | **37.4** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 32.9%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 32.9%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 32.9%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 32.9%** |
| 1000000 <sup>(1)(2)</sup> | 1345T 2025-AOA A, 5.750%, (TSFR1M + 1.600%), 06/15/2042 | $1004076 | 0.5 |
| 776962 <sup>(1)</sup> | Arbor Multifamily Mortgage Securities Trust 2021-MF3 D, 2.000%, 10/15/2054 | 622351 | 0.3 |
| 500000 <sup>(1)(2)</sup> | Atrium Hotel Portfolio Trust 2017-ATRM C, 6.098%, (TSFR1M + 1.947%), 12/15/2036 | 488453 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | BAHA Trust 2024-MAR B, 7.069%, 12/10/2041 | 1043807 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | BAMLL Trust 2025-ASHF A, 6.001%, (TSFR1M + 1.850%), 02/15/2042 | 1003017 | 0.5 |
| 6369284 <sup>(1)(2)(3)</sup> | BANK 2017-BNK8 XE, 1.427%, 11/15/2050 | 157658 | 0.1 |
| 15793102 <sup>(2)(3)</sup> | BANK 2020-BN27 XA, 1.261%, 04/15/2063 | 630948 | 0.3 |
| 5156958 <sup>(2)(3)</sup> | BANK 2020-BN30 XA, 1.366%, 12/15/2053 | 254129 | 0.1 |
| 900000 <sup>(2)</sup> | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3 C, 4.352%, 02/15/2050 | 875623 | 0.5 |
| 12827031 <sup>(2)(3)</sup> | Barclays Commercial Mortgage Trust 2019-C4 XA, 1.661%, 08/15/2052 | 574761 | 0.3 |
| 5710974 <sup>(1)(2)(3)</sup> | Benchmark Mortgage Trust 2018-B5 XD, 1.500%, 07/15/2051 | 201844 | 0.1 |
| 4989959 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2019-B10 XA, 1.380%, 03/15/2062 | 181151 | 0.1 |
| 4489366 <sup>(1)(2)(3)</sup> | Benchmark Mortgage Trust 2019-B14 XD, 1.403%, 12/15/2062 | 216118 | 0.1 |
| 5535229 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2020-B18 XA, 1.853%, 07/15/2053 | 287648 | 0.2 |
| 4751313 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2020-B22 XA, 1.613%, 01/15/2054 | 301699 | 0.2 |
| 10231413 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2021-B25 XA, 1.190%, 04/15/2054 | 424762 | 0.2 |
| 1000000 | Benchmark Mortgage Trust 2025-V17 A3, 5.075%, 09/15/2058 | 1025369 | 0.6 |
| 1008846 <sup>(1)(4)</sup> | BMD2 Re-Remic Trust 2019-FRR1 4A, 0.000%, 05/25/2052 | 835295 | 0.5 |
| 2537173 <sup>(1)</sup> | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.357%, 05/25/2052 | 2158075 | 1.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(1)(2)</sup> | BOCA Commercial Mortgage Trust 2024-BOCA B, 6.490%, (TSFR1M + 2.340%), 08/15/2041 | $1006890 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.486%, (TSFR1M + 1.386%), 01/17/2043 | 998424 | 0.5 |
| 723659 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2019-IMC D, 6.096%, (TSFR1M + 1.946%), 04/15/2034 | 713283 | 0.4 |
| 728846 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2021-VOLT F, 6.665%, (TSFR1M + 2.514%), 09/15/2036 | 727958 | 0.4 |
| 1000000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2022-CSMO B, 7.291%, (TSFR1M + 3.141%), 06/15/2027 | 1012290 | 0.5 |
| 537007 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2023-XL3 D, 7.739%, (TSFR1M + 3.589%), 12/09/2040 | 539482 | 0.3 |
| 1240459 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-AIRC B, 6.291%, (TSFR1M + 2.141%), 08/15/2039 | 1246160 | 0.7 |
| 872522 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-GPA3 A, 5.443%, (TSFR1M + 1.293%), 12/15/2039 | 875723 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | BX Trust 2021-ARIA C, 5.910%, (TSFR1M + 1.760%), 10/15/2036 | 1000136 | 0.5 |
| 500000 <sup>(1)(2)</sup> | BX Trust 2021-LGCY E, 5.964%, (TSFR1M + 1.814%), 10/15/2036 | 498395 | 0.3 |
| 289103 <sup>(1)(2)</sup> | BX Trust 2021-RISE C, 5.714%, (TSFR1M + 1.564%), 11/15/2036 | 288872 | 0.2 |
| 1159970 <sup>(1)(2)</sup> | BX Trust 2021-SDMF D, 5.651%, (TSFR1M + 1.501%), 09/15/2034 | 1155420 | 0.6 |
| 955585 <sup>(1)(2)</sup> | BX Trust 2025-LUNR A, 5.650%, (TSFR1M + 1.500%), 06/15/2040 | 958801 | 0.5 |
| 5106639 <sup>(2)(3)</sup> | CD Mortgage Trust 2019-CD8 XA, 1.524%, 08/15/2057 | 207429 | 0.1 |
| 6220215 <sup>(1)(2)(3)</sup> | Citigroup Commercial Mortgage Trust 2017-P8 XE, 1.394%, 09/15/2050 | 129264 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 500000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | $510124 | 0.3 |
| 500000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 508572 | 0.3 |
| 1250000 <sup>(1)(2)</sup> | DK Trust 2024-SPBX D, 6.900%, (TSFR1M + 2.750%), 03/15/2034 | 1254893 | 0.7 |
| 1250000 <sup>(1)(2)</sup> | Extended Stay America Trust 2025-ESH A, 5.450%, (TSFR1M + 1.300%), 10/15/2042 | 1257031 | 0.7 |
| 1000000 <sup>(1)(2)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU A, 5.600%, (TSFR1M + 1.450%), 12/15/2039 | 1001677 | 0.5 |
| 3885032 <sup>(2)(3)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 1.093%, 08/25/2036 | 289177 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.519%, (TSFR1M + 1.385%), 08/19/2042 | 1001778 | 0.5 |
| 2235423 <sup>(1)(4)</sup> | GAM Re-REMIC Trust 2021-FRR1 1C, 0.000%, 11/29/2050 | 2011942 | 1.1 |
| 3147000 <sup>(1)(4)</sup> | GAM Re-REMIC Trust 2021-FRR1 1D, 0.000%, 11/29/2050 | 2801479 | 1.5 |
| 29453 <sup>(1)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 29027 | 0 |
| 1178694 <sup>(1)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 1131233 | 0.6 |
| 653492 <sup>(1)</sup> | GS Mortgage Securities Trust 2019-GC39 D, 3.000%, 05/10/2052 | 501901 | 0.3 |
| 542067 <sup>(1)</sup> | GS Mortgage Securities Trust 2021-GSA3 D, 2.250%, 12/15/2054 | 329586 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | GSAT Trust 2025-BMF A, 5.650%, (TSFR1M + 1.500%), 07/15/2040 | 1001500 | 0.5 |
| 600000 <sup>(1)(2)</sup> | HYT Commercial Mortgage Trust 2024-RGCY B, 6.491%, (TSFR1M + 2.341%), 09/15/2041 | 601953 | 0.3 |
| 881000 <sup>(1)(2)</sup> | INTOWN Mortgage Trust 2025-STAY C, 6.400%, (TSFR1M + 2.250%), 03/15/2042 | 881262 | 0.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1315383 <sup>(1)(2)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019- ICON E, 5.394%, 01/05/2034 | $1294926 | 0.7 |
| 1145816 <sup>(1)(2)</sup> | KSL Commercial Mortgage Trust 2024- HT2 A, 5.693%, (TSFR1M + 1.542%), 12/15/2039 | 1147134 | 0.6 |
| 289161 <sup>(1)(2)</sup> | LAQ Mortgage Trust 2023-LAQ D, 8.339%, (TSFR1M + 4.188%), 03/15/2036 | 282186 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 C, 6.284%, (TSFR1M + 2.141%), 08/17/2042 | 993515 | 0.5 |
| 1250000 <sup>(1)(2)</sup> | MAD Commercial Mortgage Trust 2025- 11MD A, 4.754%, 10/15/2042 | 1248120 | 0.7 |
| 360000 <sup>(1)(2)</sup> | MHC Trust 2021-MHC2 E, 6.214%, (TSFR1M + 2.064%), 05/15/2038 | 360661 | 0.2 |
| 1000000 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C29 B, 4.039%, 05/15/2049 | 958675 | 0.5 |
| 4684360 <sup>(1)(2)(3)</sup> | Morgan Stanley Capital I 2017-HR2 XD, 1.729%, 12/15/2050 | 139389 | 0.1 |
| 11054665 <sup>(2)(3)</sup> | Morgan Stanley Capital I Trust 2019-H7 XA, 1.366%, 07/15/2052 | 424291 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | ORL Trust 2024-GLKS A, 5.643%, (TSFR1M + 1.493%), 12/15/2039 | 1001715 | 0.5 |
| 221985 <sup>(1)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A C, 3.250%, 12/25/2050 | 218867 | 0.1 |
| 3011482 <sup>(1)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 2849077 | 1.5 |
| 1000000 <sup>(1)(2)</sup> | PRM Trust 2025-PRM6 A, 4.630%, 07/05/2033 | 997364 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | PRM5 Trust 2025-PRM5 A, 4.620%, 03/10/2033 | 997863 | 0.5 |
| 2000000 <sup>(1)(2)</sup> | RFM Reremic Trust 2022-FRR1 AB60, 2.337%, 11/08/2049 | 1921585 | 1 |
| 1897233 <sup>(1)(4)</sup> | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 1707901 | 0.9 |
| 1000000 <sup>(1)(2)</sup> | SG Commercial Mortgage Securities Trust 2020-COVE E, 3.852%, 03/15/2037 | 834921 | 0.5 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)** |
| 1000000 <sup>(1)(2)</sup> | SWCH Commercial Mortgage Trust 2025-DATA A, 5.593%, (TSFR1M + 1.443%), 02/15/2042 | $| 996223 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | WCORE Commercial Mortgage Trust 2024-CORE B, 5.992%, (TSFR1M + 1.842%), 11/15/2041 |  | 1003223 | 0.5 |
| 861000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2016-LC25 D, 3.171%, 12/15/2059 |  | 792818 | 0.4 |
| 9187429 <sup>(2)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C40 XA, 0.996%, 10/15/2050 |  | 106915 | 0.1 |
| 6014802 <sup>(2)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C60 XA, 1.617%, 08/15/2054 |  | 378834 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-DWHP A, 6.492%, (TSFR1M + 2.341%), 04/15/2038 |  | 1005152 | 0.5 |
| 850000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT B, 5.675%, 03/15/2038 |  | 854950 | 0.5 |
|  | Total Commercial Mortgage-Backed Securities |  |  |  |
|  | (Cost $57,101,193) |  | **61274751** | **32.9** |
| **ASSET-BACKED SECURITIES: 21.7%** | **ASSET-BACKED SECURITIES: 21.7%** | **ASSET-BACKED SECURITIES: 21.7%** | **ASSET-BACKED SECURITIES: 21.7%** | **ASSET-BACKED SECURITIES: 21.7%** |
|  | **Other Asset-Backed Securities: 18.1%** | **Other Asset-Backed Securities: 18.1%** | **Other Asset-Backed Securities: 18.1%** | **Other Asset-Backed Securities: 18.1%** |
| 300000 <sup>(1)(2)</sup> | AB BSL CLO 5 Ltd. 2024-5A C, 6.425%, (TSFR3M + 2.100%), 01/20/2038 |  | 301292 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | AMMC CLO 30 Ltd. 2024-30A C, 6.968%, (TSFR3M + 2.650%), 01/15/2037 |  | 1004348 | 0.5 |
| 730000 <sup>(1)(2)</sup> | Apidos CLO XXIV 2016-24A BRR, 6.637%, (TSFR3M + 2.312%), 10/20/2030 |  | 731413 | 0.4 |
| 815100 <sup>(1)</sup> | Arbys Funding LLC 2020-1A A2, 3.237%, 07/30/2050 |  | 787894 | 0.4 |
| 500000 <sup>(1)(2)</sup> | Balboa Bay Loan Funding Ltd. 2022-1A CR, 6.625%, (TSFR3M + 2.300%), 04/20/2037 |  | 501853 | 0.3 |
| 550000 <sup>(1)(2)</sup> | Birch Grove CLO 3 Ltd. 2021-3A CR, 6.125%, (TSFR3M + 1.800%), 01/19/2038 |  | 551626 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 500000 <sup>(1)(2)</sup> | BlueMountain CLO XXXIII Ltd. 2021-33A BR, 0.010%, (TSFR3M + 1.700%), 10/20/2038 | $500625 | 0.3 |
| 600000 <sup>(1)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 609101 | 0.3 |
| 800000 <sup>(1)(2)</sup> | Cedar Funding V CLO Ltd. 2016-5A CR, 6.684%, (TSFR3M + 2.362%), 07/17/2031 | 801396 | 0.4 |
| 750000 <sup>(1)</sup> | Cherry Securitization Trust 2025-1A A, 6.130%, 11/15/2032 | 762740 | 0.4 |
| 537427 <sup>(1)</sup> | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 497264 | 0.3 |
| 750000 <sup>(1)(2)</sup> | Elmwood CLO 18 Ltd. 2022-5A CRR, 6.322%, (TSFR3M + 2.000%), 07/17/2037 | 754402 | 0.4 |
| 1050000 <sup>(1)(2)</sup> | Galaxy 31 Clo Ltd. 2023-31A CR, 6.311%, (TSFR3M + 2.000%), 07/15/2038 | 1055626 | 0.6 |
| 662745 <sup>(1)</sup> | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 671679 | 0.3 |
| 420851 <sup>(1)</sup> | Loanpal Solar Loan Ltd. 2020-3GS B, 3.450%, 12/20/2047 | 318141 | 0.2 |
| 334899 <sup>(1)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 302325 | 0.2 |
| 203270 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 191227 | 0.1 |
| 261132 <sup>(1)</sup> | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 227264 | 0.1 |
| 1500000 <sup>(1)(2)</sup> | Oaktree CLO Ltd. 2019-4A CRR, 6.595%, (TSFR3M + 2.270%), 07/20/2037 | 1506889 | 0.8 |
| 250000 <sup>(1)(2)</sup> | Oaktree CLO Ltd. 2024-25A C, 6.825%, (TSFR3M + 2.500%), 04/20/2037 | 251321 | 0.1 |
| 450000 <sup>(1)(2)</sup> | Octagon Investment Partners XVI Ltd. 2013-1A CR, 6.434%, (TSFR3M + 2.112%), 07/17/2030 | 450595 | 0.2 |
| 592426 <sup>(1)</sup> | Pagaya AI Debt Grantor Trust 2024-11 B, 5.637%, 07/15/2032 | 596851 | 0.3 |
| 649945 <sup>(1)</sup> | Pagaya AI Debt Grantor Trust 2025-1 B, 5.628%, 07/15/2032 | 657476 | 0.3 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 800000 <sup>(1)(2)</sup> | Palmer Square CLO Ltd. 2018-2A BR, 6.818%, (TSFR3M + 2.500%), 04/16/2037 | $804810 | 0.4 |
| 1000000 <sup>(1)(2)</sup> | Parallel Ltd. 2023-1A BR, 6.375%, (TSFR3M + 2.050%), 07/20/2036 | 1001685 | 0.5 |
| 1050000 <sup>(1)(2)</sup> | Sound Point CLO XXIX Ltd. 2021-1A C1, 6.880%, (TSFR3M + 2.562%), 04/25/2034 | 1051700 | 0.6 |
| 500000 <sup>(1)(2)</sup> | Sound Point CLO XXXII Ltd. 2021-4A C, 6.730%, (TSFR3M + 2.412%), 10/25/2034 | 500864 | 0.3 |
| 487720 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 | 440834 | 0.2 |
| 1976613 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2021-B B, 2.010%, 07/20/2048 | 1458826 | 0.8 |
| 371907 <sup>(1)</sup> | Sunnova Helios IV Issuer LLC 2020-AA A, 2.980%, 06/20/2047 | 331646 | 0.2 |
| 1039157 <sup>(1)</sup> | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | 875140 | 0.5 |
| 897519 <sup>(1)</sup> | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 | 859255 | 0.5 |
| 707982 <sup>(1)</sup> | Sunrun Iris Issuer LLC 2023-1A A, 5.750%, 01/30/2059 | 698404 | 0.4 |
| 1870969 <sup>(1)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 1797514 | 1 |
| 342567 <sup>(1)</sup> | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 325378 | 0.2 |
| 431970 <sup>(1)</sup> | TIF Funding II LLC 2021-1A A, 1.650%, 02/20/2046 | 394692 | 0.2 |
| 1850000 <sup>(1)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 1883446 | 1 |
| 557603 <sup>(1)</sup> | Triton Container Finance VIII LLC 2021-1A B, 2.580%, 03/20/2046 | 514730 | 0.3 |
| 333280 <sup>(1)(2)</sup> | Venture 33 CLO Ltd. 2018-33A CR, 6.859%, (TSFR3M + 2.542%), 07/15/2031 | 333752 | 0.2 |
| 350000 <sup>(1)(2)</sup> | VERDE CLO Ltd. 2019-1A CRR, 6.318%, (TSFR3M + 2.000%), 04/15/2032 | 350907 | 0.2 |
| 569751 <sup>(1)</sup> | Vivint Solar Financing VII LLC 2020-1A A, 2.210%, 07/31/2051 | 526897 | 0.3 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 416600 <sup>(1)(2)</sup> | Wind River CLO Ltd. 2014-1A CRR, 6.541%, (TSFR3M + 2.212%), 07/18/2031 | $| 416914 | 0.2 |
| 1712154 <sup>(1)</sup> | Wingstop Funding LLC 2020-1A A2, 2.841%, 12/05/2050 |  | 1654813 | 0.9 |
| 1650000 <sup>(1)</sup> | Wingstop Funding LLC 2024-1A A2, 5.858%, 12/05/2054 |  | 1711009 | 0.9 |
| 1893619 <sup>(1)</sup> | Zaxby's Funding LLC 2021-1A A2, 3.238%, 07/30/2051 |  | 1788693 | 0.9 |
|  |  |  | **33755257** | **18.1** |
|  | **Student Loan Asset-Backed Securities: 3.6%** | **Student Loan Asset-Backed Securities: 3.6%** | **Student Loan Asset-Backed Securities: 3.6%** | **Student Loan Asset-Backed Securities: 3.6%** |
| 296337 <sup>(1)</sup> | Laurel Road Prime Student Loan Trust 2019-A BFX, 3.000%, 10/25/2048 |  | 291866 | 0.1 |
| 1080103 <sup>(1)</sup> | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 |  | 1045545 | 0.6 |
| 790000 <sup>(1)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 |  | 682280 | 0.4 |
| 1205000 <sup>(1)</sup> | SoFi Professional Loan Program LLC 2017-F BFX, 3.620%, 01/25/2041 |  | 1166645 | 0.6 |
| 602000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 |  | 583709 | 0.3 |
| 632000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 |  | 611709 | 0.3 |
| 1521000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 |  | 1262812 | 0.7 |
| 1235000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-C BFX, 3.360%, 02/15/2046 |  | 1058215 | 0.6 |
|  |  |  | **6702781** | **3.6** |
|  | Total Asset-Backed Securities |  |  |  |
|  | (Cost $39,106,166) |  | **40458038** | **21.7** |
|  | Total Long-Term Investments |  |  |  |
|  | (Cost $161,398,890) |  | **171376053** | **92.0** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** | **SHORT-TERM INVESTMENTS: 9.1%** |
|  | **Commercial Paper: 8.8%** | **Commercial Paper: 8.8%** | **Commercial Paper: 8.8%** |
| 1000000 | Agilent Technologies, 4.290%, 10/02/2025 | $999765 | 0.5 |
| 1000000 | Automatic Data Processing., 4.160%, 10/01/2025 | 999886 | 0.5 |
| 1000000 | Bekshire Hathway., 4.340%, 10/10/2025 | 998813 | 0.5 |
| 2000000 | Concord Minutemen Capital Co. LLC, 4.180%, 10/02/2025 | 1999542 | 1.1 |
| 1000000 | Dominion Resources, Inc., 4.330%, 10/15/2025 | 998224 | 0.5 |
| 1000000 | Dominion Resources, Inc., 4.330%, 10/16/2025 | 998105 | 0.5 |
| 2000000 | Entergy Corp., 4.270%, 10/01/2025 | 1999766 | 1.1 |
| 2000000 | Fiserv, Inc., 4.310%, 10/02/2025 | 1999528 | 1.1 |
| 1000000 | Fiserv, Inc., 4.360%, 10/10/2025 | 998808 | 0.5 |
| 2000000 | Kellanova, 4.370%, 10/24/2025 | 1994270 | 1.1 |
| 2000000 | Sherwin-Williams Co., 4.290%, 10/20/2025 | 1995311 | 1.1 |
| 545000 | Toyota Motor Credit Corp., 4.160%, 10/14/2025 | 544131 | 0.3 |
|  | Total Commercial Paper |  |  |
|  | (Cost $16,528,293) | **16526149** | **8.8** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 0.3%** |  |  |
| 546000 <sup>(5)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 4.050% |  |  |
|  | (Cost $546,000) | $**546000** | **0.3** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $17,074,293) | **17072149** | **9.1** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $178,473,183)** | $**188448202** | **101.1** |
|  | **Liabilities in Excess of Other Assets** | **(2097038)** | **(1.1)** |
|  | **Net Assets** | $**186351164** | **100.0** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualifiied institutional buyers. |
| <sup>(2)</sup> | Variable rate security. Rate shown is the rate in effect as of September 30, 2025. |
| <sup>(3)</sup> | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
| <sup>(4)</sup> | Principal only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments of interest on the pool are passed through the principal only security. |
| <sup>(5)</sup> | Rate shown is the 7-day yield as of September 30, 2025. |

---

Reference Rate Abbreviations:

SOFR30A 30-day Secured Overnight Financing Rate

TSFR1M 1-month CME Term Secured Overnight Financing Rate

TSFR3M 3-month CME Term Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of September 30, 2025 in valuing the assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices**<br>**in Active Markets**<br>**for Identical**<br>**Investments**<br>**(Level 1)** |<br>**Significant Other**<br>**Observable**<br>**Inputs**<br>**(Level 2)** |<br>**Significant**<br>**Unobservable**<br>**Inputs**<br>**(Level 3)** |<br>**Fair Value**<br>**at**<br>**September 30,**<br>**2025** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Collateralized Mortgage Obligations | $— | $69643264 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $69643264 |
| Commercial Mortgage-Backed Securities |  | 61274751 |  | 61274751 |
| Asset-Backed Securities |  | 40458038 |  | 40458038 |
| Short-Term Investments | 546000 | 16526149 |  | 17072149 |
| Total Investments, at fair value | $546000 | $187902202 | $— | $188448202 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 19068 |  |  | 19068 |
| Total Assets | $565068 | $187902202 | $— | $188467270 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | $(64282) | $— | $— | $(64282) |
| Total Liabilities | $(64282) | $— | $— | $(64282) |

---

<sup>^</sup> See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

---

| | |
|:---|:---|
| <sup>+</sup> | Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are fair valued at the unrealized appreciation (depreciation) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |

---

At September 30, 2025, the following futures contracts were outstanding for Voya VACS Series SC Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** | **Number**<br>**of Contracts** | **Expiration**<br>**Date** | **Notional**<br>**Amount** | **Unrealized<br> Appreciation/**<br>**(Depreciation)** |
| <u>Long Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 163 | 12/31/25 | $33968945 | $(6682) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 28 | 12/31/25 | 3057469 | (708) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | 53 | 12/19/25 | 5962500 | 16929 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 1 | 12/19/25 | 116594 | 2139 |
|  |  |  | $43105508 | $11678 |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (16) | 12/19/25 | (1841250) | (8776) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (17) | 12/19/25 | (2041063) | (48116) |
|  |  |  | $(3882313) | $(56892) |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of September 30, 2025 was as follows:

---

| | | |
|:---|:---|:---|
| <br>**Derivatives not accounted for as hedging instruments** | **Location on Statement**<br>**of Assets and Liabilities** |<br>**Fair Value** |
| **<u>Asset Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*</sup> | $19068 |
| **Total Asset Derivatives** |  | $19068 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $64282 |
| **Total Liability Derivatives** |  | $64282 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series SC Fund PORTFOLIO OF INVESTMENTS <br> as of September 30, 2025 (Unaudited) (continued) <br>    

\* The fair value presented above represents the cumulative unrealized appreciation (depreciation) on futures contracts as reported in the tables within the Portfolio of Investments. In the Statement of Assets and Liabilities, only current day's unsettled variation margin is reported in receivables or payables on futures contracts and the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2025 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $293729 |
| **Total** | $293729 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $(396116) |
| **Total** | $(396116) |

---

At September 30, 2025, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

---

| | |
|:---|:---|
| Cost for U.S. federal income tax purposes was $178,824,086. |  |
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $9899331 |
| Gross Unrealized Depreciation | (320429) |
| Net Unrealized Appreciation | $9578902 |

---

See Accompanying Notes to Financial Statements

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[This Page Intentionally Left Blank]

---

| | |
|:---|:---|
| **Investment Adviser** | **Custodian** |
| Voya Investments, LLC | The Bank of New York Mellon |
| 7337 East Doubletree Ranch Road, Suite 100 | 225 Liberty Street |
| Scottsdale, Arizona 85258 | New York, New York 10286 |
| **Placement Agent** | **Legal Counsel** |
| Voya Investments Distributor, LLC | Ropes & Gray LLP |
| 7337 East Doubletree Ranch Road, Suite 100 | Prudential Tower |
| Scottsdale, Arizona 85258 | 800 Boylston Street |
|  | Boston, Massachusetts 02199 |
| **Transfer Agent** |  |
| BNY Mellon Investment Servicing (U.S.) Inc. |  |
| 103 Bellevue Parkway |  |
| Wilmington, Delaware 19809 |  |

---

**For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.**

**220646 (0925)**

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

There were no changes in or disagreements with accountants during the reporting period.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

None during the reporting period.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** 

The Trustees' Fees and Expenses are included in the financial statements filed under item 7. Aggregate amount of $201,414 was paid during the reporting period.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

None.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** 

Not applicable.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.** 

Not applicable.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** 

Not applicable.

**Item 15. Submission of Matters to a Vote of Security Holders.** 

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant's board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

**Item 16. Controls and Procedures.**

(a) Based on our evaluation conducted within 90 days of the filing
date, hereof, the design and operation of the registrant's disclosure controls and procedures are effective to ensure that material
information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly
during the period in which Forms N-CSR are being prepared, and the registrant's disclosure controls and procedures allow timely
preparation and review of the information for the registrant's Form N-CSR and the officer certifications of such Form N-CSR.

(b) There were no significant changes in the registrant's
internal controls that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting.

**Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18. Recovery of Erroneously Awarded Compensation.** 

Not Applicable.

**Item 19. Exhibits.** 

(a)(1) The Code of Ethics is not required for the semi-annual filing.

(a)(2) Not applicable.

---

| | |
|:---|:---|
| [(a)(3)](tm2530932d1_ex99-cert.htm) | [A separate certification for each principal executive officer and principal financial officer of the registrant is required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.](tm2530932d1_ex99-cert.htm) |

---

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b)](tm2530932d1_ex99-906cert.htm) [The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT.](tm2530932d1_ex99-906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): Voya Funds Trust

---

| | |
|:---|:---|
| By | /s/ Christian G. Wilson |
|  | Christian G. Wilson |
|  | Principal Executive Officer |
| Date: | December 9, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By | /s/ Christian G. Wilson |
|  | Christian G. Wilson |
|  | Principal Executive Officer |

---

Date: December 9, 2025

---

| | |
|:---|:---|
| By | /s/ Todd Modic |
|  | Todd Modic |
|  | Principal Financial Officer |

---

Date: December 9, 2025

## Ex-99.Cert

**EX-99.CERT**

**<u>CERTIFICATION</u>**

I, Christian G. Wilson, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Voya Funds Trust ;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined
in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
internal control over financial reporting.

---

| | |
|:---|:---|
| Date: December 9, 2025 | /s/ Christian G. Wilson |
|  | Christian G. Wilson |
|  | Principal Executive Officer |

---

**<u>CERTIFICATION</u>**

I, Todd Modic, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Voya Funds Trust ;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined
in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
internal control over financial reporting.

---

| | |
|:---|:---|
| Date: December 9, 2025 | /s/ Todd Modic |
|  | Todd Modic |
|  | Principal Financial Officer |

---

## Exhibit 99.906

**EX-99.906CERT**

**Certification**

Pursuant to Section 906

of the

Sarbanes-Oxley Act of 2002

Name of Registrant: Voya Funds Trust

Date of Form N-CSR: September 30, 2025

The undersigned, the principal executive officer of the above named registrant (the "Fund"), hereby certifies that, with respect to the Form N-CSR referred to above, to the best of his knowledge and belief, after reasonable inquiry:

&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSR fully complies with the requirements of section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSR fairly presents, in all material respects, the financial
 condition and results of operations of the Fund.

A signed original of this written statement required by Section 906 has been provided to Voya Funds Trust and will be retained by Voya Funds Trust and furnished to the Securities and Exchange Commission or its staff upon request.

IN WITNESS WHEREOF, the undersigned has executed this Certification below, as of this 9<sup>th</sup> day of December, 2025.

---

| |
|:---|
| /s/ Christian G. Wilson |
| Christian G. Wilson |
| Principal Executive Officer |

---

**Certification**

Pursuant to Section 906

of the

Sarbanes-Oxley Act of 2002

Name of Registrant: Voya Funds Trust

Date of Form N-CSR: September 30, 2025

The undersigned, the principal financial officer of the above named registrant (the "Fund"), hereby certifies that, with respect to the Form N-CSR referred to above, to the best of his knowledge and belief, after reasonable inquiry:

&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSR fully complies with the requirements of section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSR fairly presents, in all material respects, the financial
 condition and results of operations of the Fund.

A signed original of this written statement required by Section 906 has been provided to Voya Funds Trust and will be retained by Voya Funds Trust and furnished to the Securities and Exchange Commission or its staff upon request.

IN WITNESS WHEREOF, the undersigned has executed this Certification below, as of this 9<sup>th</sup> day of December, 2025.

---

| |
|:---|
| /s/ Todd Modic |
| Todd Modic |
| Principal Financial Officer |

---