# EDGAR Filing Document

**Accession Number:** 0001066602
**File Stem:** 0001104659-26-070989
**Filing Date:** 2026-6
**Character Count:** 1736218
**Document Hash:** 8f287fbc8860224ac2a38a4b10308265
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-070989.hdr.sgml**: 20260605

**ACCESSION NUMBER**: 0001104659-26-070989

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 76

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**EFFECTIVENESS DATE**: 20260605

**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-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08895
- **FILM NUMBER:** 261069412

**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           |

### Voya VACS Series CB Fund (Series ID: S000093999)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000262481 | Voya VACS Series CB Fund | VVCBX           |

?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: **March 31, 2026**

**Item 1. Reports to Stockholders.**

(a) 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](#classname2c20808b-9de3-49ef-84fa-a043e1ae855e)<br> **[Class A - LEXNX](#classname2c20808b-9de3-49ef-84fa-a043e1ae855e)**  |
|  [Voya GNMA Income Fund](#classname22620e83-7f28-4eac-b368-ffe251ceb524)<br> **[Class C - LEGNX](#classname22620e83-7f28-4eac-b368-ffe251ceb524)**  |
|  [Voya GNMA Income Fund](#classnameaac45387-f57c-4e80-ac04-c4f83316dca7)<br> **[Class I - LEINX](#classnameaac45387-f57c-4e80-ac04-c4f83316dca7)**  |
|  [Voya GNMA Income Fund](#classname5221a0c6-d226-4b01-9664-7c2c58604d53)<br> **[Class R6 - VGMBX](#classname5221a0c6-d226-4b01-9664-7c2c58604d53)**  |
|  [Voya GNMA Income Fund](#classnamee7a0403c-979e-4a0b-8791-1b6850834ab4)<br> **[Class W - IGMWX](#classnamee7a0403c-979e-4a0b-8791-1b6850834ab4)**  |
|  [Voya Government Money Market Fund](#classname5cb33f22-27d7-4b53-9a9b-70664a453f03)<br> **[Class A - VYAXX](#classname5cb33f22-27d7-4b53-9a9b-70664a453f03)**  |
|  [Voya Government Money Market Fund](#classnameb62c8daa-def2-4c45-b16b-81985f7e9bbb)<br> **[Class C - VYBXX](#classnameb62c8daa-def2-4c45-b16b-81985f7e9bbb)**  |
|  [Voya Government Money Market Fund](#classname5fe566e8-185e-43a5-b63e-1a2420ba6dee)<br> **[Class I - VYCXX](#classname5fe566e8-185e-43a5-b63e-1a2420ba6dee)**  |
|  [Voya Government Money Market Fund](#classnamedc5730ae-4447-47bc-b764-9140220b05dd)<br> **[Class R6 - VYHXX](#classnamedc5730ae-4447-47bc-b764-9140220b05dd)**  |
|  [Voya Government Money Market Fund](#classnamed787873d-dca9-4788-a26f-4b6bc4a2132a)<br> **[Class W - VYGXX](#classnamed787873d-dca9-4788-a26f-4b6bc4a2132a)**  |
|  [Voya High Yield Bond Fund](#classname9c97401d-9956-4dbf-ae97-05e881d8c5d9)<br> **[Class A - IHYAX](#classname9c97401d-9956-4dbf-ae97-05e881d8c5d9)**  |
|  [Voya High Yield Bond Fund](#classname83f16eb3-a308-4a72-8566-65a7b03da703)<br> **[Class C - IMYCX](#classname83f16eb3-a308-4a72-8566-65a7b03da703)**  |
|  [Voya High Yield Bond Fund](#classname2ca968a7-62fe-46db-a4e1-8d14a01b1038)<br> **[Class I - IHYIX](#classname2ca968a7-62fe-46db-a4e1-8d14a01b1038)**  |
|  [Voya High Yield Bond Fund](#classname9ba8470d-db6b-4890-88b2-05540e4d3c17)<br> **[Class R - IRSTX](#classname9ba8470d-db6b-4890-88b2-05540e4d3c17)**  |
|  [Voya High Yield Bond Fund](#classname8d02a93b-2285-4dd6-a1f8-3dbbe78412fc)<br> **[Class R6 - VHYRX](#classname8d02a93b-2285-4dd6-a1f8-3dbbe78412fc)**  |
|  [Voya High Yield Bond Fund](#classname82579282-0065-46a5-a884-8da20d625153)<br> **[Class W - IHYWX](#classname82579282-0065-46a5-a884-8da20d625153)**  |
|  [Voya Intermediate Bond Fund](#classname7e884ca2-f68a-4070-a376-c32ae71dd27a)<br> **[Class A - IIBAX](#classname7e884ca2-f68a-4070-a376-c32ae71dd27a)**  |
|  [Voya Intermediate Bond Fund](#classname0b31c91e-02b0-4020-9170-4f0d62d6a1ed)<br> **[Class C - IICCX](#classname0b31c91e-02b0-4020-9170-4f0d62d6a1ed)**  |
|  [Voya Intermediate Bond Fund](#classnamed22056ac-9018-4838-8ab3-f762e461574a)<br> **[Class I - IICIX](#classnamed22056ac-9018-4838-8ab3-f762e461574a)**  |
|  [Voya Intermediate Bond Fund](#classnameae3da597-80a8-4249-a1ca-ab9a830df6bf)<br> **[Class R - IIBOX](#classnameae3da597-80a8-4249-a1ca-ab9a830df6bf)**  |
|  [Voya Intermediate Bond Fund](#classnamedba4d926-0501-4ea1-9d75-d40015bacf00)<br> **[Class R6 - IIBZX](#classnamedba4d926-0501-4ea1-9d75-d40015bacf00)**  |
|  [Voya Intermediate Bond Fund](#classname130cce28-ed28-4885-8a72-a7deaa470936)<br> **[Class W - IIBWX](#classname130cce28-ed28-4885-8a72-a7deaa470936)**  |
|  [Voya Short Duration High Income Fund](#classnamef3f8da91-6c9a-4536-9284-b416636574a1)<br> **[Class A - VVJBX](#classnamef3f8da91-6c9a-4536-9284-b416636574a1)**  |
|  [Voya Short Duration High Income Fund](#classname0371e4e0-6c19-4f2d-ad2f-d4b01ac9069e)<br> **[Class C - VVJGX](#classname0371e4e0-6c19-4f2d-ad2f-d4b01ac9069e)**  |
|  [Voya Short Duration High Income Fund](#classname6bddf8e1-339c-4a0f-afd7-307003c55eef)<br> **[Class I - VVJCX](#classname6bddf8e1-339c-4a0f-afd7-307003c55eef)**  |
|  [Voya Short Duration High Income Fund](#classname6200b75e-38f9-4605-95f8-4114531109c7)<br> **[Class R6 - VVJDX](#classname6200b75e-38f9-4605-95f8-4114531109c7)**  |
|  [Voya Short Duration High Income Fund](#classnamea8f08da2-05cd-464f-aaec-374d7910574f)<br> **[Class W - VVJWX](#classnamea8f08da2-05cd-464f-aaec-374d7910574f)**  |
|  [Voya Short Duration Bond Fund](#classnamee192630b-bfe9-4daa-8f53-f1722a9e995d)<br> **[Class A - IASBX](#classnamee192630b-bfe9-4daa-8f53-f1722a9e995d)**  |
|  [Voya Short Duration Bond Fund](#classname6ff8a992-b6d4-4d9d-8220-f191568fa879)<br> **[Class C - ICSBX](#classname6ff8a992-b6d4-4d9d-8220-f191568fa879)**  |
|  [Voya Short Duration Bond Fund](#classnamee2ef144c-66c7-4ff0-b284-a144b65d1391)<br> **[Class I - IISBX](#classnamee2ef144c-66c7-4ff0-b284-a144b65d1391)**  |
|  [Voya Short Duration Bond Fund](#classname4367cef7-ff4c-4ab9-b02e-55672a71367c)<br> **[Class R - VSTRX](#classname4367cef7-ff4c-4ab9-b02e-55672a71367c)**  |
|  [Voya Short Duration Bond Fund](#classname7b9632a5-2be4-44f9-b4a2-2ca9074bf441)<br> **[Class R6 - IGZAX](#classname7b9632a5-2be4-44f9-b4a2-2ca9074bf441)**  |
|  [Voya Short Duration Bond Fund](#classname13aa56d6-af10-42e5-aa64-3ac80a031f0c)<br> **[Class W - IWSBX](#classname13aa56d6-af10-42e5-aa64-3ac80a031f0c)**  |
|  [Voya Strategic Income Opportunities Fund](#classnameabe6729e-1f04-4b7d-aebc-7e5be7f3bdf4)<br> **[Class A - ISIAX](#classnameabe6729e-1f04-4b7d-aebc-7e5be7f3bdf4)**  |
|  [Voya Strategic Income Opportunities Fund](#classnamee6e2c7b6-98a6-4afa-8e33-74e92631cd4f)<br> **[Class C - ISICX](#classnamee6e2c7b6-98a6-4afa-8e33-74e92631cd4f)**  |
|  [Voya Strategic Income Opportunities Fund](#classnameaf5c4427-b234-4b3b-904e-c1c56476a934)<br> **[Class I - IISIX](#classnameaf5c4427-b234-4b3b-904e-c1c56476a934)**  |
|  [Voya Strategic Income Opportunities Fund](#classnamee6b2ba8e-0b6e-4ef8-a846-2e6be9ef2575)<br> **[Class R - ISIRX](#classnamee6b2ba8e-0b6e-4ef8-a846-2e6be9ef2575)**  |
|  [Voya Strategic Income Opportunities Fund](#classname963bd871-2949-4d6d-871e-b13888e8a763)<br> **[Class R6 - VSIRX](#classname963bd871-2949-4d6d-871e-b13888e8a763)**  |
|  [Voya Strategic Income Opportunities Fund](#classname16477e6e-3282-497d-ad5c-78d21e0e7823)<br> **[Class W - ISIWX](#classname16477e6e-3282-497d-ad5c-78d21e0e7823)**  |
|  [Voya VACS Series CB Fund](#classname47706efd-54c8-46f3-a05d-73d3a6354fe0)<br> **[VACS Series - VVCBX](#classname47706efd-54c8-46f3-a05d-73d3a6354fe0)**  |
|  [Voya VACS Series HYB Fund](#classname5b1ac4da-1fd0-4194-a3e6-253aae7e7d7f)<br> **[Portfolio - VVITX](#classname5b1ac4da-1fd0-4194-a3e6-253aae7e7d7f)**  |

---

#### Class A: LEXNX
![Image](tm269275d1_tsrimg002.jpg)

# Voya GNMA Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $86 | 0.84% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the Bloomberg GNMA Index. Underperformance was driven by security selection decisions, while sector allocation decisions contributed.

↑ Top contributors to performance: Negative cash position.

↓ Top detractors from performance: Allocation to collateralized mortgage obligations (CMO) and security selection within GNMA.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg031.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg GNMA Index** |
| **2016** | $9751 | $10000 | $10000 | $10000 |
| **2017** | $9795 | $10044 | $10044 | $10009 |
| **2018** | $9802 | $10052 | $10165 | $10037 |
| **2019** | $10180 | $10440 | $10620 | $10485 |
| **2020** | $10733 | $11007 | $11568 | $11201 |
| **2021** | $10849 | $11126 | $11650 | $11160 |
| **2022** | $10376 | $10641 | $11167 | $10647 |
| **2023** | $9906 | $10158 | $10633 | $10170 |
| **2024** | $10024 | $10280 | $10814 | $10338 |
| **2025** | $10560 | $10829 | $11341 | $10873 |
| **2026** | $11065 | $11347 | $11835 | $11472 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | 2.17% | -0.12% | 1.02% |
| Class A - Excluding Sales Charge | 4.78% | 0.39% | 1.27% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$1,069,969,812

* # of Portfolio Holdings804

* Portfolio Turnover Rate432%

* Investment Advisory Fees Paid$3,821,955

## 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%, 05/15/56 | 10.2% |
| Ginnie Mae, 5.500%, 05/20/56 | 8.9% |
| Ginnie Mae, 6.000%, 05/15/56 | 6.5% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 3.000%, 04/20/56 | 2.5% |
| Ginnie Mae - Class FE, 4.923%, 01/20/55 | 2.0% |
| Ginnie Mae - Class EZ, 6.000%, 09/20/63 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |
| Ginnie Mae, 2.500%, 10/20/51 | 1.8% |
| Ginnie Mae - Class LF, 4.923%, 06/20/55 | 1.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (30.0)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 61.9% |
| U.S. Government Agency Obligations | 64.5% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya GNMA Income Fund
92913L692-AR

#### Class C: LEGNX
![Image](tm269275d1_tsrimg002.jpg)

# Voya GNMA Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $162 | 1.59% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the Bloomberg GNMA Index. Underperformance was driven by security selection decisions, while sector allocation decisions contributed.

↑ Top contributors to performance: Negative cash position.

↓ Top detractors from performance: Allocation to collateralized mortgage obligations (CMO) and security selection within GNMA.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg013.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg GNMA Index** |
| **2016** | $10000 | $10000 | $10000 |
| **2017** | $9963 | $10044 | $10009 |
| **2018** | $9907 | $10165 | $10037 |
| **2019** | $10201 | $10620 | $10485 |
| **2020** | $10677 | $11568 | $11201 |
| **2021** | $10723 | $11650 | $11160 |
| **2022** | $10176 | $11167 | $10647 |
| **2023** | $9638 | $10633 | $10170 |
| **2024** | $9681 | $10814 | $10338 |
| **2025** | $10198 | $11341 | $10873 |
| **2026** | $10685 | $11835 | $11472 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | 2.87% | -0.37% | 0.67% |
| Class C - Excluding Sales Charge | 3.87% | -0.37% | 0.67% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$1,069,969,812

* # of Portfolio Holdings804

* Portfolio Turnover Rate432%

* Investment Advisory Fees Paid$3,821,955

## 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%, 05/15/56 | 10.2% |
| Ginnie Mae, 5.500%, 05/20/56 | 8.9% |
| Ginnie Mae, 6.000%, 05/15/56 | 6.5% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 3.000%, 04/20/56 | 2.5% |
| Ginnie Mae - Class FE, 4.923%, 01/20/55 | 2.0% |
| Ginnie Mae - Class EZ, 6.000%, 09/20/63 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |
| Ginnie Mae, 2.500%, 10/20/51 | 1.8% |
| Ginnie Mae - Class LF, 4.923%, 06/20/55 | 1.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (30.0)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 61.9% |
| U.S. Government Agency Obligations | 64.5% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya GNMA Income Fund
92913L726-AR

#### Class I: LEINX
![Image](tm269275d1_tsrimg002.jpg)

# Voya GNMA Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $55 | 0.54% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the Bloomberg GNMA Index. Underperformance was driven by security selection decisions, while sector allocation decisions contributed.

↑ Top contributors to performance: Negative cash position.

↓ Top detractors from performance: Allocation to collateralized mortgage obligations (CMO) and security selection within GNMA.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg026.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg GNMA Index** |
| **2016** | $250000 | $250000 | $250000 |
| **2017** | $251891 | $251100 | $250225 |
| **2018** | $252825 | $254113 | $250926 |
| **2019** | $263332 | $265497 | $262117 |
| **2020** | $278469 | $289206 | $280019 |
| **2021** | $282644 | $291260 | $279011 |
| **2022** | $270838 | $279172 | $266177 |
| **2023** | $259708 | $265828 | $254252 |
| **2024** | $263305 | $270342 | $258445 |
| **2025** | $278566 | $283533 | $271831 |
| **2026** | $292750 | $295863 | $286796 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class I | 5.09% | 0.70% | 1.59% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

## Fund Statistics
* Total Net Assets$1,069,969,812

* # of Portfolio Holdings804

* Portfolio Turnover Rate432%

* Investment Advisory Fees Paid$3,821,955

## 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%, 05/15/56 | 10.2% |
| Ginnie Mae, 5.500%, 05/20/56 | 8.9% |
| Ginnie Mae, 6.000%, 05/15/56 | 6.5% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 3.000%, 04/20/56 | 2.5% |
| Ginnie Mae - Class FE, 4.923%, 01/20/55 | 2.0% |
| Ginnie Mae - Class EZ, 6.000%, 09/20/63 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |
| Ginnie Mae, 2.500%, 10/20/51 | 1.8% |
| Ginnie Mae - Class LF, 4.923%, 06/20/55 | 1.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (30.0)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 61.9% |
| U.S. Government Agency Obligations | 64.5% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya GNMA Income Fund
92913L734-AR

#### Class R6: VGMBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya GNMA Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $52 | 0.51% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the Bloomberg GNMA Index. Underperformance was driven by security selection decisions, while sector allocation decisions contributed.

↑ Top contributors to performance: Negative cash position.

↓ Top detractors from performance: Allocation to collateralized mortgage obligations (CMO) and security selection within GNMA.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg046.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg GNMA Index** |
| **7/31/2020** | $1000000 | $1000000 | $1000000 |
| **2021** | $1006406 | $964357 | $993129 |
| **2022** | $965562 | $924336 | $947445 |
| **2023** | $924877 | $880153 | $905000 |
| **2024** | $938182 | $895097 | $919922 |
| **2025** | $993059 | $938774 | $967571 |
| **2026** | $1044148 | $979597 | $1020836 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **Since Inception (7/31/2020)** |
| Class R6 | 5.14% | 0.74% | 0.77% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | -0.36% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 0.36% |

---

## Fund Statistics
* Total Net Assets$1,069,969,812

* # of Portfolio Holdings804

* Portfolio Turnover Rate432%

* Investment Advisory Fees Paid$3,821,955

## 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%, 05/15/56 | 10.2% |
| Ginnie Mae, 5.500%, 05/20/56 | 8.9% |
| Ginnie Mae, 6.000%, 05/15/56 | 6.5% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 3.000%, 04/20/56 | 2.5% |
| Ginnie Mae - Class FE, 4.923%, 01/20/55 | 2.0% |
| Ginnie Mae - Class EZ, 6.000%, 09/20/63 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |
| Ginnie Mae, 2.500%, 10/20/51 | 1.8% |
| Ginnie Mae - Class LF, 4.923%, 06/20/55 | 1.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (30.0)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 61.9% |
| U.S. Government Agency Obligations | 64.5% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya GNMA Income Fund
92913L577-AR

#### Class W: IGMWX
![Image](tm269275d1_tsrimg002.jpg)

# Voya GNMA Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $60 | 0.59% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the Bloomberg GNMA Index. Underperformance was driven by security selection decisions, while sector allocation decisions contributed.

↑ Top contributors to performance: Negative cash position.

↓ Top detractors from performance: Allocation to collateralized mortgage obligations (CMO) and security selection within GNMA.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg036.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg GNMA Index** |
| **2016** | $10000 | $10000 | $10000 |
| **2017** | $10072 | $10044 | $10009 |
| **2018** | $10105 | $10165 | $10037 |
| **2019** | $10521 | $10620 | $10485 |
| **2020** | $11120 | $11568 | $11201 |
| **2021** | $11281 | $11650 | $11160 |
| **2022** | $10805 | $11167 | $10647 |
| **2023** | $10357 | $10633 | $10170 |
| **2024** | $10495 | $10814 | $10338 |
| **2025** | $11098 | $11341 | $10873 |
| **2026** | $11657 | $11835 | $11472 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class W | 5.04% | 0.66% | 1.55% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg GNMA Index | 5.51% | 0.55% | 1.38% |

---

## Fund Statistics
* Total Net Assets$1,069,969,812

* # of Portfolio Holdings804

* Portfolio Turnover Rate432%

* Investment Advisory Fees Paid$3,821,955

## 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%, 05/15/56 | 10.2% |
| Ginnie Mae, 5.500%, 05/20/56 | 8.9% |
| Ginnie Mae, 6.000%, 05/15/56 | 6.5% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.0% |
| Ginnie Mae, 3.000%, 04/20/56 | 2.5% |
| Ginnie Mae - Class FE, 4.923%, 01/20/55 | 2.0% |
| Ginnie Mae - Class EZ, 6.000%, 09/20/63 | 1.8% |
| Ginnie Mae, 3.000%, 10/20/51 | 1.8% |
| Ginnie Mae, 2.500%, 10/20/51 | 1.8% |
| Ginnie Mae - Class LF, 4.923%, 06/20/55 | 1.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg035.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (30.0)% |
| Asset-Backed Securities | 0.0% |
| Commercial Mortgage-Backed Securities | 3.6% |
| Collateralized Mortgage Obligations | 61.9% |
| U.S. Government Agency Obligations | 64.5% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya GNMA Income Fund
92913L767-AR

#### Class A: VYAXX
![Image](tm269275d1_tsrimg023.jpg)

# Voya Government Money Market Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $36 | 0.35% |

---

## Fund Statistics
* Total Net Assets$473,865,511

* # of Portfolio Holdings32

* Investment Advisory Fees Paid$813,159

## 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.](tm269275d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 11.1% |
| U.S. Treasury Repurchase Agreements | 22.6% |
| U.S. Treasury Debt | 29.7% |
| U.S. Government Agency Debt | 36.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Government Money Market Fund
92913L379-AR

#### Class C: VYBXX
![Image](tm269275d1_tsrimg023.jpg)

# Voya Government Money Market Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $137 | 1.35% |

---

## Fund Statistics
* Total Net Assets$473,865,511

* # of Portfolio Holdings32

* Investment Advisory Fees Paid$813,159

## 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.](tm269275d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 11.1% |
| U.S. Treasury Repurchase Agreements | 22.6% |
| U.S. Treasury Debt | 29.7% |
| U.S. Government Agency Debt | 36.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Government Money Market Fund
92913L361-AR

#### Class I: VYCXX
![Image](tm269275d1_tsrimg023.jpg)

# Voya Government Money Market Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $36 | 0.35% |

---

## Fund Statistics
* Total Net Assets$473,865,511

* # of Portfolio Holdings32

* Investment Advisory Fees Paid$813,159

## 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.](tm269275d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 11.1% |
| U.S. Treasury Repurchase Agreements | 22.6% |
| U.S. Treasury Debt | 29.7% |
| U.S. Government Agency Debt | 36.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Government Money Market Fund
92913L353-AR

#### Class R6: VYHXX
![Image](tm269275d1_tsrimg023.jpg)

# Voya Government Money Market Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $36 | 0.35% |

---

## Fund Statistics
* Total Net Assets$473,865,511

* # of Portfolio Holdings32

* Investment Advisory Fees Paid$813,159

## 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.](tm269275d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 11.1% |
| U.S. Treasury Repurchase Agreements | 22.6% |
| U.S. Treasury Debt | 29.7% |
| U.S. Government Agency Debt | 36.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Government Money Market Fund
92913L213-AR

#### Class W: VYGXX
![Image](tm269275d1_tsrimg023.jpg)

# Voya Government Money Market Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $36 | 0.35% |

---

## Fund Statistics
* Total Net Assets$473,865,511

* # of Portfolio Holdings32

* Investment Advisory Fees Paid$813,159

## 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.](tm269275d1_tsrimg041.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 11.1% |
| U.S. Treasury Repurchase Agreements | 22.6% |
| U.S. Treasury Debt | 29.7% |
| U.S. Government Agency Debt | 36.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Government Money Market Fund
92913L320-AR

#### Class A: IHYAX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $108 | 1.05% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg028.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2016** | $9744 | $10000 | $10000 | $10000 | $10000 |
| **2017** | $10926 | $11213 | $10044 | $11688 | $11639 |
| **2018** | $11201 | $11495 | $10165 | $12119 | $12079 |
| **2019** | $11764 | $12073 | $10620 | $12839 | $12795 |
| **2020** | $11086 | $11377 | $11568 | $11882 | $11907 |
| **2021** | $13277 | $13625 | $11650 | $14651 | $14723 |
| **2022** | $13194 | $13540 | $11167 | $14608 | $14626 |
| **2023** | $12525 | $12854 | $10633 | $14088 | $14136 |
| **2024** | $13639 | $13997 | $10814 | $15643 | $15713 |
| **2025** | $14529 | $14910 | $11341 | $16832 | $16921 |
| **2026** | $15430 | $15835 | $11835 | $17993 | $18107 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | 3.49% | 2.54% | 4.43% |
| Class A - Excluding Sales Charge | 6.20% | 3.05% | 4.70% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 6.05% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 6.12% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L627-AR

#### Class C: IMYCX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $185 | 1.80% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg010.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $11145 | $10044 | $11688 | $11639 |
| **2018** | $11340 | $10165 | $12119 | $12079 |
| **2019** | $11821 | $10620 | $12839 | $12795 |
| **2020** | $11056 | $11568 | $11882 | $11907 |
| **2021** | $13143 | $11650 | $14651 | $14723 |
| **2022** | $12963 | $11167 | $14608 | $14626 |
| **2023** | $12203 | $10633 | $14088 | $14136 |
| **2024** | $13189 | $10814 | $15643 | $15713 |
| **2025** | $14050 | $11341 | $16832 | $16921 |
| **2026** | $14922 | $11835 | $17993 | $18107 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | 4.26% | 2.27% | 4.08% |
| Class C - Excluding Sales Charge | 5.26% | 2.27% | 4.08% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 6.05% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 6.12% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L643-AR

#### Class I: IHYIX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $74 | 0.72% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg018.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2016** | $250000 | $250000 | $250000 | $250000 |
| **2017** | $281340 | $251100 | $292190 | $290975 |
| **2018** | $289425 | $254113 | $302983 | $301974 |
| **2019** | $305028 | $265497 | $320966 | $319881 |
| **2020** | $288418 | $289206 | $297047 | $297681 |
| **2021** | $346657 | $291260 | $366282 | $368083 |
| **2022** | $345673 | $279172 | $365206 | $365653 |
| **2023** | $328985 | $265828 | $352195 | $353404 |
| **2024** | $359509 | $270342 | $391079 | $392815 |
| **2025** | $384308 | $283533 | $420796 | $423027 |
| **2026** | $409577 | $295863 | $449819 | $452680 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class I | 6.58% | 3.39% | 5.06% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 6.05% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 6.12% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L783-AR

#### Class R: IRSTX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R | $134 | 1.30% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg014.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $11185 | $10044 | $11688 | $11639 |
| **2018** | $11453 | $10165 | $12119 | $12079 |
| **2019** | $11999 | $10620 | $12839 | $12795 |
| **2020** | $11280 | $11568 | $11882 | $11907 |
| **2021** | $13474 | $11650 | $14651 | $14723 |
| **2022** | $13357 | $11167 | $14608 | $14626 |
| **2023** | $12639 | $10633 | $14088 | $14136 |
| **2024** | $13729 | $10814 | $15643 | $15713 |
| **2025** | $14589 | $11341 | $16832 | $16921 |
| **2026** | $15455 | $11835 | $17993 | $18107 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R | 5.94% | 2.78% | 4.45% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 6.05% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 6.12% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L544-AR

#### Class R6: VHYRX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $66 | 0.64% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg022.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **8/3/2016** | $1000000 | $1000000 | $1000000 | $1000000 |
| **2017** | $1064042 | $985847 | $1076100 | $1076234 |
| **2018** | $1095677 | $997677 | $1115851 | $1116916 |
| **2019** | $1156213 | $1042373 | $1182081 | $1183149 |
| **2020** | $1092707 | $1135457 | $1093989 | $1101038 |
| **2021** | $1315548 | $1143519 | $1348973 | $1361434 |
| **2022** | $1312784 | $1096063 | $1345010 | $1352448 |
| **2023** | $1250545 | $1043671 | $1297093 | $1307141 |
| **2024** | $1367292 | $1061391 | $1440299 | $1452910 |
| **2025** | $1462498 | $1113183 | $1549741 | $1564656 |
| **2026** | $1559567 | $1161590 | $1656629 | $1674335 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **Since Inception (8/3/2016)** |
| Class R6 | 6.64% | 3.46% | 4.71% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.56% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 5.39% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 5.48% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L528-AR

#### Class W: IHYWX
![Image](tm269275d1_tsrimg002.jpg)

# Voya High Yield Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $83 | 0.80% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed the ICE BofA U.S. High Yield Index.

↑ Top contributors to performance: For the period ending June 17, 2025, security selection within energy, retailers & industrials contributed. For the period from June 17, 2025 - March 31, 2026, underweight in CCC rated bonds was a relative performance tailwind. Industries helping performance in the period included chemicals, technology, as well as printing & publishing. Within chemicals, relative strength was attributable to both security selection as well as an industry underweight. Exposure to several outperforming issuers in data center operations & cloud computing drove gains in technology. Underweight positioning had the largest positive impact on relative performance in printing & publishing.

↓ Top detractors from performance: For the period ending June 17, 2025, offsetting detractors included selection & overweight position within media & entertainment, as well as selection in building products. For the period from June 17, 2025 - March 31, 2026, industries detracting the most from relative performance in the period were healthcare, energy, & telecommunications. The primary source of weakness in healthcare was exposure to an underperforming pharmaceutical issue, with some additional detraction stemming from an industry underweight. Across both energy and telecommunications, underweight positioning & broad security selection each had comparable negative impacts on relative performance.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg029.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. High Yield Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $11240 | $10044 | $11688 | $11639 |
| **2018** | $11552 | $10165 | $12119 | $12079 |
| **2019** | $12163 | $10620 | $12839 | $12795 |
| **2020** | $11493 | $11568 | $11882 | $11907 |
| **2021** | $13795 | $11650 | $14651 | $14723 |
| **2022** | $13762 | $11167 | $14608 | $14626 |
| **2023** | $13091 | $10633 | $14088 | $14136 |
| **2024** | $14290 | $10814 | $15643 | $15713 |
| **2025** | $15260 | $11341 | $16832 | $16921 |
| **2026** | $16247 | $11835 | $17993 | $18107 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class W | 6.47% | 3.33% | 4.97% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. High Yield Index | 6.90% | 4.19% | 6.05% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 4.22% | 6.12% |

---

Effective, June 16, 2025, the secondary benchmark was changed from Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index to the ICE BofA U.S. High Yield Index.

## Fund Statistics
* Total Net Assets$213,709,106

* # of Portfolio Holdings110

* Portfolio Turnover Rate162%

* Investment Advisory Fees Paid$1,559,136

## 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

---

| | |
|:---|:---|
| Iron Mountain, Inc., 6.250%, 01/15/33 | 1.9% |
| Vmed O2 UK Financing I PLC, 7.750%, 04/15/32 | 1.6% |
| OneMain Finance Corp., 7.125%, 09/15/32 | 1.5% |
| Bombardier, Inc., 6.750%, 06/15/33 | 1.5% |
| Gen Digital, Inc., 6.250%, 04/01/33 | 1.4% |
| Quikrete Holdings, Inc., 6.750%, 03/01/33 | 1.4% |
| NRG Energy, Inc., 6.250%, 11/01/34 | 1.4% |
| Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/30 | 1.4% |
| Panther Escrow Issuer LLC, 7.125%, 06/01/31 | 1.3% |
| Sirius XM Radio LLC, 5.875%, 04/15/32 | 1.3% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg012.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.2% |
| Convertible Bonds/Notes | 0.9% |
| Corporate Bonds/Notes | 95.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective June 16, 2025, the Fund's Principal Investment Strategies were revised to allow the Fund to invest in convertible securities and, correspondingly, Convertible Securities Risk was added as a Principal Risk of the Fund.

## 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](tm269275d1_tsrimg027.jpg)

# Voya High Yield Bond Fund
92913L866-AR

#### Class A: IIBAX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $69 | 0.68% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg047.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $9749 | $10000 | $10000 |
| **2017** | $9962 | $10219 | $10044 |
| **2018** | $10136 | $10398 | $10165 |
| **2019** | $10571 | $10843 | $10620 |
| **2020** | $11025 | $11309 | $11568 |
| **2021** | $11700 | $12001 | $11650 |
| **2022** | $11150 | $11437 | $11167 |
| **2023** | $10501 | $10772 | $10633 |
| **2024** | $10834 | $11114 | $10814 |
| **2025** | $11422 | $11716 | $11341 |
| **2026** | $11918 | $12225 | $11835 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | 1.78% | -0.13% | 1.77% |
| Class A - Excluding Sales Charge | 4.34% | 0.37% | 2.03% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L650-AR

#### Class C: IICCX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $146 | 1.43% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg016.jpg)

---

| | | |
|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $10000 | $10000 |
| **2017** | $10153 | $10044 |
| **2018** | $10253 | $10165 |
| **2019** | $10613 | $10620 |
| **2020** | $10975 | $11568 |
| **2021** | $11561 | $11650 |
| **2022** | $10933 | $11167 |
| **2023** | $10218 | $10633 |
| **2024** | $10475 | $10814 |
| **2025** | $11043 | $11341 |
| **2026** | $11523 | $11835 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | 2.56% | -0.36% | 1.43% |
| Class C - Excluding Sales Charge | 3.56% | -0.36% | 1.43% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L676-AR

#### Class I: IICIX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $37 | 0.36% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg008.jpg)

---

| | | |
|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $250000 | $250000 |
| **2017** | $256578 | $251100 |
| **2018** | $261952 | $254113 |
| **2019** | $274084 | $265497 |
| **2020** | $286486 | $289206 |
| **2021** | $305303 | $291260 |
| **2022** | $291890 | $279172 |
| **2023** | $275811 | $265828 |
| **2024** | $285907 | $270342 |
| **2025** | $302149 | $283533 |
| **2026** | $316407 | $295863 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class I | 4.72% | 0.72% | 2.38% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L684-AR

#### Class R: IIBOX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R | $95 | 0.93% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg042.jpg)

---

| | | |
|:---|:---|:---|
| | **Class R** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $10000 | $10000 |
| **2017** | $10193 | $10044 |
| **2018** | $10356 | $10165 |
| **2019** | $10762 | $10620 |
| **2020** | $11196 | $11568 |
| **2021** | $11852 | $11650 |
| **2022** | $11267 | $11167 |
| **2023** | $10586 | $10633 |
| **2024** | $10895 | $10814 |
| **2025** | $11457 | $11341 |
| **2026** | $11938 | $11835 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R | 4.20% | 0.15% | 1.79% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L742-AR

#### Class R6: IIBZX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $31 | 0.30% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg024.jpg)

---

| | | |
|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $1000000 | $1000000 |
| **2017** | $1025397 | $1004400 |
| **2018** | $1048020 | $1016453 |
| **2019** | $1096767 | $1061990 |
| **2020** | $1147986 | $1156826 |
| **2021** | $1222668 | $1165039 |
| **2022** | $1170637 | $1116690 |
| **2023** | $1106755 | $1063312 |
| **2024** | $1146634 | $1081366 |
| **2025** | $1213860 | $1134132 |
| **2026** | $1271866 | $1183450 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R6 | 4.78% | 0.79% | 2.43% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L569-AR

#### Class W: IIBWX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Intermediate Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $44 | 0.43% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg US Aggregate Bond Index. Outperformance was driven by security selection and sector allocation decisions, while duration and yield curve positioning had limited impact.

**↑ Top contributors to performance:** Allocation to high yield corporates. Security selection within commercial mortgage-backed securities (CMBS). Allocation to non-agency residential mortgage-backed securities (RMBS) & credit risk transfer (CRT). Lastly, security selection within asset-backed securities (ABS).

**↓ Top detractors from performance:** Security selection within investment grade corporates.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg003.jpg)

---

| | | |
|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** |
| **2016** | $10000 | $10000 |
| **2017** | $10254 | $10044 |
| **2018** | $10460 | $10165 |
| **2019** | $10935 | $10620 |
| **2020** | $11433 | $11568 |
| **2021** | $12164 | $11650 |
| **2022** | $11621 | $11167 |
| **2023** | $10971 | $10633 |
| **2024** | $11360 | $10814 |
| **2025** | $11993 | $11341 |
| **2026** | $12559 | $11835 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class W | 4.72% | 0.64% | 2.30% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |

---

## Fund Statistics
* Total Net Assets$11,195,881,471

* # of Portfolio Holdings2,456

* Portfolio Turnover Rate202%

* Investment Advisory Fees Paid$25,336,058

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.6% |
| Voya Multi-Sector Income ETF | 2.1% |
| United States Treasury Notes, 3.875%, 03/31/28 | 1.8% |
| Ginnie Mae, 5.500%, 05/20/56 | 1.2% |
| United States Treasury Notes, 3.500%, 03/15/29 | 1.2% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.2% |
| Ginnie Mae, 4.500%, 04/20/53 | 1.1% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.0% |
| United States Treasury Notes, 4.250%, 03/31/33 | 0.9% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg030.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 10.0% |
| Bank Loans | 0.6% |
| Sovereign Bonds | 1.0% |
| Exchange-Traded Funds | 3.0% |
| Commercial Mortgage-Backed Securities | 7.7% |
| U.S. Treasury Obligations | 7.9% |
| Asset-Backed Securities | 9.6% |
| Collateralized Mortgage Obligations | 13.4% |
| U.S. Government Agency Obligations | 20.0% |
| Corporate Bonds/Notes | 26.8% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective July 31, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests. Additionally, effective January 1, 2026, the expense limits were lowered to 0.68%, 1.43%, 0.36%, 0.93%, 0.36% and 0.43% for Class A, Class C, Class I, Class R, Class R6 and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Intermediate Bond Fund
92913L775-AR

#### Class A: VVJBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration High Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $87 | 0.86% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed ICE BofA 1-3 Year US Treasury Index.

↑ Top contributors to performance: Performance in the period benefited from industry weightings and a consistent fundamental credit selection framework. Most industries aided performance in the period; financial services, support-services, as well as cable and satellite TV made the largest contributions to performance.

↓ Top detractors from performance: Energy, retail and utilities were the largest detractors from performance in the period.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg048.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA 1-3 year U.S. Treasury Index** |
| **2/9/2023** | $9747 | $10000 | $10000 | $10000 |
| **2023** | $9727 | $9979 | $10095 | $10127 |
| **2024** | $10788 | $11068 | $10267 | $10427 |
| **2025** | $11454 | $11752 | $10768 | $10993 |
| **2026** | $11624 | $11927 | $11236 | $11406 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | |
|:---|:---|:---|
| Fund | **1 Year** | **Since Inception (2/9/2023)** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | -1.02% | 4.92% |
| Class A - Excluding Sales Charge | 1.49% | 5.78% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 3.78% |
| ICE BofA 1-3 year U.S. Treasury Index | 3.75% | 4.28% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$196,383,087

* # of Portfolio Holdings109

* Portfolio Turnover Rate40%

* Investment Advisory Fees Paid$902,019

## 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

---

| | |
|:---|:---|
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.4% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 2.4% |
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| HUB International Ltd., 7.250%, 06/15/30 | 2.2% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 2.2% |
| Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/28 | 2.1% |
| Esab Corp., 6.250%, 04/15/29 | 2.1% |
| United Rentals North America, Inc., 6.000%, 12/15/29 | 2.1% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.0% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.0% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 5.3% |
| Common Stock | 0.0% |
| Bank Loans | 4.6% |
| Corporate Bonds/Notes | 90.1% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective September 29, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration High Income Fund
92913L254-AR

#### Class C: VVJGX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration High Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $162 | 1.61% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed ICE BofA 1-3 Year US Treasury Index.

↑ Top contributors to performance: Performance in the period benefited from industry weightings and a consistent fundamental credit selection framework. Most industries aided performance in the period; financial services, support-services, as well as cable and satellite TV made the largest contributions to performance.

↓ Top detractors from performance: Energy, retail and utilities were the largest detractors from performance in the period.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg044.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA 1-3 year U.S. Treasury Index** |
| **4/20/2023** | $10000 | $10000 | $10000 |
| **2024** | $10966 | $10176 | $10293 |
| **2025** | $11571 | $10673 | $10852 |
| **2026** | $11662 | $11137 | $11259 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | |
|:---|:---|:---|
| Fund | **1 Year** | **Since Inception (4/20/2023)** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | -0.16% | 5.36% |
| Class C - Excluding Sales Charge | 0.79% | 5.36% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 3.73% |
| ICE BofA 1-3 year U.S. Treasury Index | 3.75% | 4.11% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$196,383,087

* # of Portfolio Holdings109

* Portfolio Turnover Rate40%

* Investment Advisory Fees Paid$902,019

## 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

---

| | |
|:---|:---|
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.4% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 2.4% |
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| HUB International Ltd., 7.250%, 06/15/30 | 2.2% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 2.2% |
| Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/28 | 2.1% |
| Esab Corp., 6.250%, 04/15/29 | 2.1% |
| United Rentals North America, Inc., 6.000%, 12/15/29 | 2.1% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.0% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.0% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 5.3% |
| Common Stock | 0.0% |
| Bank Loans | 4.6% |
| Corporate Bonds/Notes | 90.1% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective September 29, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration High Income Fund
92913L221-AR

#### Class I: VVJCX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration High Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $62 | 0.61% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed ICE BofA 1-3 Year US Treasury Index.

↑ Top contributors to performance: Performance in the period benefited from industry weightings and a consistent fundamental credit selection framework. Most industries aided performance in the period; financial services, support-services, as well as cable and satellite TV made the largest contributions to performance.

↓ Top detractors from performance: Energy, retail and utilities were the largest detractors from performance in the period.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg009.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA 1-3 year U.S. Treasury Index** |
| **2/9/2023** | $250000 | $250000 | $250000 |
| **2023** | $249577 | $252381 | $253178 |
| **2024** | $277502 | $256666 | $260686 |
| **2025** | $295382 | $269191 | $274833 |
| **2026** | $300518 | $280896 | $285143 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | |
|:---|:---|:---|
| Fund | **1 Year** | **Since Inception (2/9/2023)** |
| Class I | 1.74% | 6.04% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 3.78% |
| ICE BofA 1-3 year U.S. Treasury Index | 3.75% | 4.28% |

---

## Fund Statistics
* Total Net Assets$196,383,087

* # of Portfolio Holdings109

* Portfolio Turnover Rate40%

* Investment Advisory Fees Paid$902,019

## 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

---

| | |
|:---|:---|
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.4% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 2.4% |
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| HUB International Ltd., 7.250%, 06/15/30 | 2.2% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 2.2% |
| Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/28 | 2.1% |
| Esab Corp., 6.250%, 04/15/29 | 2.1% |
| United Rentals North America, Inc., 6.000%, 12/15/29 | 2.1% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.0% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.0% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 5.3% |
| Common Stock | 0.0% |
| Bank Loans | 4.6% |
| Corporate Bonds/Notes | 90.1% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective September 29, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration High Income Fund
92913L247-AR

#### Class R6: VVJDX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration High Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $58 | 0.57% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed ICE BofA 1-3 Year US Treasury Index.

↑ Top contributors to performance: Performance in the period benefited from industry weightings and a consistent fundamental credit selection framework. Most industries aided performance in the period; financial services, support-services, as well as cable and satellite TV made the largest contributions to performance.

↓ Top detractors from performance: Energy, retail and utilities were the largest detractors from performance in the period.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg015.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA 1-3 year U.S. Treasury Index** |
| **2/9/2023** | $1000000 | $1000000 | $1000000 |
| **2023** | $998264 | $1009525 | $1012710 |
| **2024** | $1109226 | $1026666 | $1042743 |
| **2025** | $1181867 | $1076763 | $1099333 |
| **2026** | $1203735 | $1123586 | $1140573 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | |
|:---|:---|:---|
| Fund | **1 Year** | **Since Inception (2/9/2023)** |
| Class R6 | 1.85% | 6.09% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 3.78% |
| ICE BofA 1-3 year U.S. Treasury Index | 3.75% | 4.28% |

---

## Fund Statistics
* Total Net Assets$196,383,087

* # of Portfolio Holdings109

* Portfolio Turnover Rate40%

* Investment Advisory Fees Paid$902,019

## 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

---

| | |
|:---|:---|
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.4% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 2.4% |
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| HUB International Ltd., 7.250%, 06/15/30 | 2.2% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 2.2% |
| Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/28 | 2.1% |
| Esab Corp., 6.250%, 04/15/29 | 2.1% |
| United Rentals North America, Inc., 6.000%, 12/15/29 | 2.1% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.0% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.0% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 5.3% |
| Common Stock | 0.0% |
| Bank Loans | 4.6% |
| Corporate Bonds/Notes | 90.1% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective September 29, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration High Income Fund
92913L239-AR

#### Class W: VVJWX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration High Income Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of August 8, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W<sup>Footnote Reference\*</sup> | $40 | 0.61% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Expenses are for the period from August 8, 2025, commencement of operations, to March 31, 2026. Expenses for the full reporting period would be higher. |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund underperformed ICE BofA 1-3 Year US Treasury Index.

↑ Top contributors to performance: Performance in the period benefited from industry weightings and a consistent fundamental credit selection framework. Most industries aided performance in the period; financial services, support-services, as well as cable and satellite TV made the largest contributions to performance.

↓ Top detractors from performance: Energy, retail and utilities were the largest detractors from performance in the period.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg032.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA 1-3 year U.S. Treasury Index** |
| **8/8/2025** | $10000 | $10000 | $10000 |
| **2026** | $10161 | $10273 | $10216 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | |
|:---|:---|
| Fund | **Since Inception (8/8/2025)** |
| Class W | 1.61% |
| Bloomberg U.S. Aggregate Bond Index | 2.73% |
| ICE BofA 1-3 year U.S. Treasury Index | 2.16% |

---

## Fund Statistics
* Total Net Assets$196,383,087

* # of Portfolio Holdings109

* Portfolio Turnover Rate40%

* Investment Advisory Fees Paid$902,019

## 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

---

| | |
|:---|:---|
| NRG Energy, Inc., 5.750%, 01/15/28 | 2.4% |
| Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/29 | 2.4% |
| Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/30 | 2.3% |
| HUB International Ltd., 7.250%, 06/15/30 | 2.2% |
| ContourGlobal Power Holdings SA, 6.750%, 02/28/30 | 2.2% |
| Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/28 | 2.1% |
| Esab Corp., 6.250%, 04/15/29 | 2.1% |
| United Rentals North America, Inc., 6.000%, 12/15/29 | 2.1% |
| Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/29 | 2.0% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/29 | 2.0% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg025.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 5.3% |
| Common Stock | 0.0% |
| Bank Loans | 4.6% |
| Corporate Bonds/Notes | 90.1% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective September 29, 2025, the Fund amended its investment policies in accordance with the investment focus that the name suggests.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration High Income Fund
92913L197-AR

#### Class A: IASBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $67 | 0.66% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg017.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $9753 | $10000 | $10000 | $10000 |
| **2017** | $9866 | $10116 | $10044 | $10071 |
| **2018** | $9901 | $10151 | $10165 | $10095 |
| **2019** | $10182 | $10440 | $10620 | $10401 |
| **2020** | $10168 | $10426 | $11568 | $10872 |
| **2021** | $10828 | $11102 | $11650 | $11043 |
| **2022** | $10523 | $10790 | $11167 | $10722 |
| **2023** | $10436 | $10700 | $10633 | $10749 |
| **2024** | $10841 | $11116 | $10814 | $11125 |
| **2025** | $11458 | $11748 | $11341 | $11748 |
| **2026** | $11916 | $12218 | $11835 | $12213 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | 1.41% | 1.41% | 1.77% |
| Class A - Excluding Sales Charge | 4.00% | 1.93% | 2.02% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L502-AR

#### Class C: ICSBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $143 | 1.41% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg004.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $10000 | $10000 | $10000 |
| **2017** | $10040 | $10044 | $10071 |
| **2018** | $10000 | $10165 | $10095 |
| **2019** | $10198 | $10620 | $10401 |
| **2020** | $10118 | $11568 | $10872 |
| **2021** | $10694 | $11650 | $11043 |
| **2022** | $10315 | $11167 | $10722 |
| **2023** | $10164 | $10633 | $10749 |
| **2024** | $10480 | $10814 | $11125 |
| **2025** | $11076 | $11341 | $11748 |
| **2026** | $11519 | $11835 | $12213 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | 2.34% | 1.20% | 1.42% |
| Class C - Excluding Sales Charge | 3.34% | 1.20% | 1.42% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L403-AR

#### Class I: IISBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $35 | 0.34% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg037.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $250000 | $250000 | $250000 |
| **2017** | $253648 | $251100 | $251775 |
| **2018** | $255046 | $254113 | $252379 |
| **2019** | $263088 | $265497 | $260026 |
| **2020** | $263510 | $289206 | $271806 |
| **2021** | $281447 | $291260 | $276073 |
| **2022** | $274349 | $279172 | $268039 |
| **2023** | $272866 | $265828 | $268736 |
| **2024** | $284239 | $270342 | $278118 |
| **2025** | $301209 | $283533 | $293711 |
| **2026** | $314443 | $295863 | $305329 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class I | 4.39% | 2.24% | 2.32% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L304-AR

#### Class R: VSTRX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R | $93 | 0.91% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg033.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $10000 | $10000 | $10000 |
| **2017** | $10089 | $10044 | $10071 |
| **2018** | $10099 | $10165 | $10095 |
| **2019** | $10361 | $10620 | $10401 |
| **2020** | $10343 | $11568 | $10872 |
| **2021** | $10996 | $11650 | $11043 |
| **2022** | $10662 | $11167 | $10722 |
| **2023** | $10559 | $10633 | $10749 |
| **2024** | $10930 | $10814 | $11125 |
| **2025** | $11523 | $11341 | $11748 |
| **2026** | $11967 | $11835 | $12213 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R | 3.86% | 1.71% | 1.81% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L205-AR

#### Class R6: IGZAX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $32 | 0.31% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg006.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $1000000 | $1000000 | $1000000 |
| **2017** | $1013871 | $1004400 | $1007100 |
| **2018** | $1020812 | $1016453 | $1009517 |
| **2019** | $1052225 | $1061990 | $1040105 |
| **2020** | $1055331 | $1156826 | $1087222 |
| **2021** | $1127447 | $1165039 | $1104292 |
| **2022** | $1099387 | $1116690 | $1072157 |
| **2023** | $1093865 | $1063312 | $1074944 |
| **2024** | $1140033 | $1081366 | $1112474 |
| **2025** | $1208689 | $1134132 | $1174844 |
| **2026** | $1262420 | $1183450 | $1221314 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R6 | 4.45% | 2.29% | 2.36% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L551-AR

#### Class W: IWSBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Short Duration Bond Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $42 | 0.41% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the Bloomberg U.S. 1-3 Year Government/Credit Bond Index primarily due to favorable asset allocation decisions, while security selection decisions detracted slightly and duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency commercial mortgage-backed securities (CMBS), to high yield corporates, asset backed securities (ABS) and agency mortgages.

↓ Top detractors from performance: Security selection within U.S. Treasury.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg040.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg U.S. 1-3 Year Government/Credit Bond Index** |
| **2016** | $10000 | $10000 | $10000 |
| **2017** | $10141 | $10044 | $10071 |
| **2018** | $10192 | $10165 | $10095 |
| **2019** | $10529 | $10620 | $10401 |
| **2020** | $10542 | $11568 | $10872 |
| **2021** | $11263 | $11650 | $11043 |
| **2022** | $10964 | $11167 | $10722 |
| **2023** | $10913 | $10633 | $10749 |
| **2024** | $11365 | $10814 | $11125 |
| **2025** | $12028 | $11341 | $11748 |
| **2026** | $12554 | $11835 | $12213 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class W | 4.38% | 2.19% | 2.30% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | 3.96% | 2.04% | 2.02% |

---

## Fund Statistics
* Total Net Assets$372,021,826

* # of Portfolio Holdings652

* Portfolio Turnover Rate164%

* Investment Advisory Fees Paid$1,164,740

## 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, 3.875%, 03/31/28 | 2.0% |
| Freddie Mac REMIC Trust - Class FA, 4.337%, 04/15/36 | 1.0% |
| Freddie Mac REMIC Trust - Class FA, 4.912%, 10/25/55 | 0.9% |
| Fannie Mae REMIC Trust - Class FH, 4.912%, 01/25/55 | 0.8% |
| BMW Vehicle Lease Trust - Class A4, 5.000%, 06/25/27 | 0.8% |
| Freddie Mac Strips - Class F43, 4.462%, 10/25/53 | 0.8% |
| Freddie Mac REMIC Trust - Class FE, 5.012%, 11/25/54 | 0.8% |
| Fannie Mae REMIC Trust - Class FD, 4.862%, 12/25/54 | 0.7% |
| Freddie Mac REMIC Trust - Class PF, 4.187%, 02/15/36 | 0.7% |
| BlueMountain CLO XXXII Ltd. - Class AR, 4.772%, 10/15/34 | 0.7% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg011.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 3.8% |
| U.S. Government Agency Obligations | 0.1% |
| U.S. Treasury Obligations | 2.9% |
| Collateralized Mortgage Obligations | 13.3% |
| Commercial Mortgage-Backed Securities | 14.0% |
| Asset-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 47.6% |

---

## 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](tm269275d1_tsrimg027.jpg)

# Voya Short Duration Bond Fund
92913L106-AR

#### Class A: ISIAX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class A | $89 | 0.87% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg038.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Class A with Sale Charges** | **Class A without Sales Charge** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Bond Index** |
| **2016** | $9755 | $10000 | $10000 | $10000 | $10000 |
| **2017** | $10419 | $10681 | $10044 | $10074 | $10192 |
| **2018** | $10837 | $11110 | $10165 | $10196 | $10347 |
| **2019** | $11269 | $11553 | $10620 | $10449 | $10816 |
| **2020** | $10539 | $10804 | $11568 | $10697 | $11589 |
| **2021** | $12119 | $12423 | $11650 | $10766 | $11931 |
| **2022** | $11819 | $12116 | $11167 | $10771 | $11426 |
| **2023** | $11471 | $11760 | $10633 | $11029 | $10899 |
| **2024** | $12307 | $12617 | $10814 | $11620 | $11190 |
| **2025** | $13140 | $13471 | $11341 | $12224 | $11777 |
| **2026** | $13774 | $14120 | $11835 | $12743 | $12324 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class A - Including Sales Charge<sup>Footnote Reference\*</sup> | 2.18% | 2.07% | 3.25% |
| Class A - Excluding Sales Charge | 4.82% | 2.59% | 3.51% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the maximum Class A sales charge of 5.75%. |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L700-AR

#### Class C: ISICX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class C | $165 | 1.62% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg034.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class C with Sale Charges** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Bond Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $10605 | $10044 | $10074 | $10192 |
| **2018** | $10949 | $10165 | $10196 | $10347 |
| **2019** | $11312 | $10620 | $10449 | $10816 |
| **2020** | $10493 | $11568 | $10697 | $11589 |
| **2021** | $11983 | $11650 | $10766 | $11931 |
| **2022** | $11602 | $11167 | $10771 | $11426 |
| **2023** | $11164 | $10633 | $11029 | $10899 |
| **2024** | $11905 | $10814 | $11620 | $11190 |
| **2025** | $12711 | $11341 | $12224 | $11777 |
| **2026** | $13324 | $11835 | $12743 | $12324 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class C - Including Sales Charge<sup>Footnote Reference\*</sup> | 3.04% | 1.84% | 2.91% |
| Class C - Excluding Sales Charge | 4.04% | 1.84% | 2.91% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;&nbsp;Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L601-AR

#### Class I: IISIX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class I | $64 | 0.62% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $250,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg007.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class I** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Bond Index** |
| **2016** | $250000 | $250000 | $250000 | $250000 |
| **2017** | $268460 | $251100 | $251850 | $254800 |
| **2018** | $280200 | $254113 | $254897 | $258673 |
| **2019** | $292591 | $265497 | $261219 | $270391 |
| **2020** | $274148 | $289206 | $267436 | $289724 |
| **2021** | $316229 | $291260 | $269147 | $298271 |
| **2022** | $309221 | $279172 | $269282 | $285654 |
| **2023** | $300435 | $265828 | $275718 | $272485 |
| **2024** | $323461 | $270342 | $290503 | $279762 |
| **2025** | $346169 | $283533 | $305590 | $294430 |
| **2026** | $363731 | $295863 | $318572 | $308105 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class I | 5.07% | 2.84% | 3.82% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L874-AR

#### Class R: ISIRX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R | $115 | 1.12% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg019.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Bond Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $10656 | $10044 | $10074 | $10192 |
| **2018** | $11057 | $10165 | $10196 | $10347 |
| **2019** | $11469 | $10620 | $10449 | $10816 |
| **2020** | $10689 | $11568 | $10697 | $11589 |
| **2021** | $12272 | $11650 | $10766 | $11931 |
| **2022** | $11933 | $11167 | $10771 | $11426 |
| **2023** | $11545 | $10633 | $11029 | $10899 |
| **2024** | $12372 | $10814 | $11620 | $11190 |
| **2025** | $13177 | $11341 | $12224 | $11777 |
| **2026** | $13778 | $11835 | $12743 | $12324 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R | 4.56% | 2.34% | 3.26% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L882-AR

#### Class R6: VSIRX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class R6 | $56 | 0.55% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $1,000,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg043.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class R6** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Index** |
| **2016** | $1000000 | $1000000 | $1000000 | $1000000 |
| **2017** | $1072070 | $1004400 | $1007400 | $1019200 |
| **2018** | $1119309 | $1016453 | $1019590 | $1034692 |
| **2019** | $1168116 | $1061990 | $1044875 | $1081563 |
| **2020** | $1094780 | $1156826 | $1069743 | $1158895 |
| **2021** | $1263981 | $1165039 | $1076590 | $1193083 |
| **2022** | $1236508 | $1116690 | $1077128 | $1142615 |
| **2023** | $1203225 | $1063312 | $1102871 | $1089941 |
| **2024** | $1295001 | $1081366 | $1162012 | $1119049 |
| **2025** | $1386949 | $1134132 | $1222359 | $1177721 |
| **2026** | $1458335 | $1183450 | $1274288 | $1232421 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class R6 | 5.15% | 2.90% | 3.85% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L536-AR

#### Class W: ISIWX
![Image](tm269275d1_tsrimg002.jpg)

# Voya Strategic Income Opportunities Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2025 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| Class W | $64 | 0.62% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund (before fees and expenses) outperformed the ICE BofA US Dollar 3-Month Deposit Offered Rate Constant Maturity Index primarily due to favorable asset allocation decisions, while security selection decisions and currency positioning detracted. Duration positioning had a limited impact.

↑ Top contributors to performance: Allocation to non-agency RMBS, agency mortgages and CMBS. Additionally, selection within CMBS & ABS contributed.

↓ Top detractors from performance: Selection within investment grade corporates & emerging market corporates. Lastly, currency positioning detracted.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg021.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Class W** | **Bloomberg U.S. Aggregate Bond Index** | **ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index** | **Bloomberg U.S. Universal Bond Index** |
| **2016** | $10000 | $10000 | $10000 | $10000 |
| **2017** | $10719 | $10044 | $10074 | $10192 |
| **2018** | $11177 | $10165 | $10196 | $10347 |
| **2019** | $11663 | $10620 | $10449 | $10816 |
| **2020** | $10920 | $11568 | $10697 | $11589 |
| **2021** | $12605 | $11650 | $10766 | $11931 |
| **2022** | $12323 | $11167 | $10771 | $11426 |
| **2023** | $11974 | $10633 | $11029 | $10899 |
| **2024** | $12894 | $10814 | $11620 | $11190 |
| **2025** | $13801 | $11341 | $12224 | $11777 |
| **2026** | $14503 | $11835 | $12743 | $12324 |

---

For the above performance graph and below table: Past performance does not guarantee future results. Call 1-800-992-0180 or visit https://individuals.voya.com/product/mutual-fund/performance for current month-end performance. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
| Fund | **1 Year** | **5 Years** | **10 Years** |
| Class W | 5.08% | 2.84% | 3.79% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 0.31% | 1.70% |
| ICE BofA U.S. Dollar 3-Month Deposit Offered Rate Constant Maturity Index | 4.25% | 3.43% | 2.45% |
| Bloomberg U.S. Universal Bond Index | 4.64% | 0.65% | 2.11% |

---

## Fund Statistics
* Total Net Assets$2,007,400,912

* # of Portfolio Holdings1,544

* Portfolio Turnover Rate316%

* Investment Advisory Fees Paid$10,421,582

## 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

---

| | |
|:---|:---|
| G2SF, 6.500%, 04/20/55 | 2.4% |
| Ginnie Mae, 6.500%, 09/20/55 | 2.1% |
| Freddie Mac REMIC Trust - Class FD, 5.262%, 02/25/55 | 1.7% |
| Ginnie Mae, 6.500%, 02/20/55 | 1.4% |
| Republic of Poland Government Bond, 5.000%, 10/25/35 | 1.2% |
| Ginnie Mae, 6.500%, 05/20/65 | 1.1% |
| Peru Government Bond, 5.350%, 08/12/40 | 1.0% |
| Uniform Mortgage-Backed Securities, 5.000%, 04/01/56 | 1.0% |
| 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 | 0.5% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg005.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 1.4% |
| Common Stock | 0.0% |
| U.S. Treasury Obligations | 0.4% |
| Sovereign Bonds | 3.2% |
| Bank Loans | 8.4% |
| Asset-Backed Securities | 9.5% |
| U.S. Government Agency Obligations | 10.0% |
| Commercial Mortgage-Backed Securities | 14.5% |
| Collateralized Mortgage Obligations | 26.2% |
| Corporate Bonds/Notes | 26.4% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026. For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 1, 2026, the expense limits were lowered to 0.87%, 1.62%, 0.62%, 1.12% and 0.62% for Class A, Class C, Class I, Class R, and Class W shares, respectively.

## 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](tm269275d1_tsrimg027.jpg)

# Voya Strategic Income Opportunities Fund
92913L809-AR

#### VACS Series: VVCBX
![Image](tm269275d1_tsrimg002.jpg)

# Voya VACS Series CB Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya VACS Series CB Fund for the period of January 22, 2026 to March 31, 2026. 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.

**This report describes changes to the Fund that occurred during the reporting period.**

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

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| VACS Series<sup>Footnote Reference\*</sup> | $3 | 0.15% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Expenses are for the period from January 22, 2026, commencement of operations, to March 31, 2026. Expenses for the full reporting period would be higher. |

---

## How did the Fund perform in the past 12 months?
Since inception from January 22, 2026 through March 31, 2026, the Fund outperformed the Bloomberg U.S. Aggregate Index primarily due to detractions from asset allocation decisions..

**↑ Top contributors to performance:** Security selection within investment grade (IG) corporates was positive for performance, given the Fund's bias towards shorter dated bonds which offset the spread widening.

**↓ Top detractors from performance:** Asset allocation decisions detracted, primarily from IG corporate spreads finishing the period wider amid the volatility spurred by the fallout of the Middle East conflict. Selection within agency mortgage pool securities also detracted from performance.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg045.jpg)

---

| | | |
|:---|:---|:---|
| | **Voya VACS Series CB Fund** | **Bloomberg U.S. Aggregate Bond Index** |
| **1/22/2026** | $10000 | $10000 |
| **2026** | $9999 | $9995 |

---

For the above performance graph and below table: Past performance does not guarantee future results. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | |
|:---|:---|
| Fund | **Since Inception (1/22/2026)** |
| Voya VACS Series CB Fund | -0.04% |
| Bloomberg U.S. Aggregate Bond Index | -0.05% |

---

## Fund Statistics
* Total Net Assets$79,977,497

* # of Portfolio Holdings748

* Portfolio Turnover Rate79%

* Investment Advisory Fees PaidN/A

## 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

---

| | |
|:---|:---|
| Uniform Mortgage-Backed Securities, 2.000%, 04/01/56 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 05/01/52 | 3.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 01/01/56 | 2.8% |
| United States Treasury Bonds, 4.625%, 02/15/46 | 2.8% |
| United States Treasury Notes, 3.875%, 03/31/28 | 2.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 06/01/52 | 2.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 2.4% |
| Uniform Mortgage-Backed Securities, 4.000%, 08/01/55 | 2.4% |
| United States Treasury Notes, 3.875%, 03/31/31 | 2.4% |
| Uniform Mortgage-Backed Securities, 3.500%, 02/01/51 | 2.2% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg001.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Liabilities in Excess of Other Assets | (3.9)% |
| Mutual Funds | 3.0% |
| Collateralized Mortgage Obligations | 6.0% |
| Asset-Backed Securities | 8.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| U.S. Treasury Obligations | 20.2% |
| U.S. Government Agency Obligations | 26.0% |
| Corporate Bonds/Notes | 30.9% |

---

## Material Fund Changes
This is a summary of certain changes to the Fund during the year ended March 31, 2026.For more complete information, you may review the Fund's next Prospectus, which we expect to be available on or about July 31, 2026 at https://individuals.voya.com/production/mutual-fund/prospectuses-reports. Copies of the Prospectus can be requested by calling Voya at 1-800-992-0180.

Effective January 22, 2026, in conjunction with the Fund's commencement of operations, the Fund's Principal Investment Strategies were revised to define the credit rating of split-rated debt instruments (debt instruments that receive different ratings from two or more NRSROs).

## 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.

# VACS Series: VVCBX
![QR Code](tm269275d1_tsrimg027.jpg)

# Voya VACS Series CB Fund
92913L189-AR

#### Portfolio: VVITX
![Image](tm269275d1_tsrimg002.jpg)

# Voya VACS Series HYB Fund

#### Annual Shareholder Report

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 31, 2026
This annual shareholder report contains important information about Voya VACS Series HYB Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of $10K investment** | **Costs paid as % of $10K investment** |
| VACS Series | $6 | 0.06% |

---

## How did the Fund perform in the past 12 months?
For the year ended March 31, 2026, the Fund outperformed the Bloomberg High Yield - 2% Issuer Constrained Composite Index, primarily due to security selection.

↑ Top contributors to performance: Security selection in industrials, as the Fund had overweight exposure to select outperforming credits. Security selection in cable and satellite, primarily due to an overweight position to Direct TV. Lastly, security selection in healthcare & pharma, primarily due to an overweight to a few pharma-related securities that outperformed.

↓ Top detractors from performance: Underweight position in energy, as the sector benefited from elevated oil prices. Security selection in gaming, primarily due to an overweight to Scientific Games Holdings. Lastly, an underweight position in wirelines.

### Total Return Based on $10,000 Investment
![A line chart as described in the following paragraph.](tm269275d1_tsrimg039.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | **Voya VACS Series HYB Fund** | **Bloomberg U.S. Aggregate Bond Index** | **Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index** |
| **2/24/2023** | $10000 | $10000 | $10000 |
| **2023** | $10186 | $10267 | $10153 |
| **2024** | $11189 | $10442 | $11285 |
| **2025** | $12001 | $10951 | $12153 |
| **2026** | $12874 | $11427 | $13005 |

---

For the above performance graph and below table: Past performance does not guarantee future results. These do not reflect the deduction of taxes that a shareholder will pay on Fund distributions or the redemption of Fund shares. Figures do reflect deduction of sales charges, if applicable, and assume reinvestment of dividends and capital gains. Performance shown, includes, if applicable, the effect of fee waivers and/or expense reimbursements.

### Average Annual Total Returns

---

| | | |
|:---|:---|:---|
| Fund | **1 Year** | **Since Inception (2/24/2023)** |
| Voya VACS Series HYB Fund | 7.28% | 8.50% |
| Bloomberg U.S. Aggregate Bond Index | 4.35% | 4.44% |
| Bloomberg High Yield Bond - 2% Issuer Constrained Composite Index | 7.01% | 8.86% |

---

## Fund Statistics
* Total Net Assets$307,955,809

* # of Portfolio Holdings324

* Portfolio Turnover Rate64%

* Investment Advisory Fees PaidN/A

## 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

---

| | |
|:---|:---|
| Medline Borrower L.P., 5.250%, 10/01/29 | 0.9% |
| Warnermedia Holdings, Inc., 4.279%, 03/15/32 | 0.9% |
| Level 3 Financing, Inc., 6.875%, 06/30/33 | 0.7% |
| Directv Financing LLC, 8.875%, 02/01/30 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| 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% |
| Celanese US Holdings LLC, 6.750%, 04/15/33 | 0.7% |
| Quikrete Holdings, Inc., 6.375%, 03/01/32 | 0.7% |
| New Gold, Inc., 6.875%, 04/01/32 | 0.6% |

---

### Investment Type Allocation
![A graphical representation of Investments made.](tm269275d1_tsrimg020.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Assets in Excess of Other Liabilities | 2.8% |
| Bank Loans | 6.2% |
| Corporate Bonds/Notes | 91.0% |

---

## 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.

# Portfolio: VVITX
![QR Code](tm269275d1_tsrimg027.jpg)

# Voya VACS Series HYB Fund
92913L262-AR

(b) Not
applicable.

**Item 2. Code of Ethics.** 

As of the end of the period covered by this report, Registrant had adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to the Registrant's principal executive officer and principal financial officer. There were no amendments to the Code during the period covered by the report. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code during the period covered by this report. The code of ethics is filed herewith pursuant to Item 19(a)(1), Ex-99.CODE ETH.

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

The Board of Trustees has determined that Colleen D. Baldwin, Christopher P. Sullivan, Jody Foster and Mark Wetzel are audit committee financial experts, as defined in Item 3 of Form N-CSR. Ms. Baldwin, Mr. Sullivan, Ms. Foster and Mr. Wetzel are "independent" for purposes of Item 3 of Form N-CSR.

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

Below are the amount of fees that Ernst & Young LLP ("EY"), the Registrant's current Independent Registered Public Accounting Firm, billed and paid to the Fund during the Fund's fiscal years ended March 31, 2026 and March 31, 2025.

(a) <u>Audit Fees</u>: The aggregate fees billed and paid for each of the last two fiscal years for professional
services rendered by EY , the principal accountant for the audit of the registrant's annual financial
statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements
for those fiscal years were $266,031 for the year ended March 31 , 2026 and $256,885 for the year ended March 31 , 2025.

(b) <u>Audit-Related Fees</u>: The aggregate fees billed and paid in each of the last two fiscal years for
assurance and related services by EY that are reasonably related to the performance of the audit of the registrant's financial statements
and are not reported under paragraph (a) of this Item were $0 for the year ended March 31 , 2026 and
$0 for the year ended March 31 , 2025.

(c) <u>Tax Fees</u>: The
aggregate fees billed and paid in each of the last two fiscal years for professional services rendered by EY for tax compliance, tax advice,
and tax planning were $93,005 for the year ended March 31 , 2026 and $87,895 for the year ended March
31 , 2025. Such services included review of excise distribution calculations (if applicable), international
tax compliance services, preparation of the Registrants' federal, state, and excise tax returns, tax services related to mergers
and routine consulting.

(d) <u>All Other Fees</u>: The
aggregate fees billed and paid in each of the last two fiscal years for products and services provided by EY, other than the services
reported in paragraphs (a) through (c) of this Item were $0 for the year ended March 31 , 2026 and
$0 for the year ended March 31 , 2025.

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u>

***Appendix A***

**AUDIT AND NON-AUDIT SERVICES PRE-APPROVAL POLICY**

**I.** **Statement of Principles** 

Under the Sarbanes-Oxley Act of 2002 (the "Act"), the Audit Committee of the Board of Directors or Trustees (the "Committee") of the Voya funds (each a "Fund," collectively, the "Funds") set out on <u>Exhibit A</u> to this Audit and Non-Audit Services Pre-Approval Policy ("Policy") is responsible for the oversight of the work of the Funds' independent auditors. As part of its responsibilities, the Committee must pre-approve the audit and non-audit services performed by the auditors in order to assure that the provision of these services does not impair the auditors' independence from the Funds. The Committee has adopted, and the Board has ratified, this Policy, which sets out the procedures and conditions under which the services of the independent auditors may be pre-approved.

Under Securities and Exchange Commission ("SEC") rules promulgated in accordance with the Act, the Funds may establish two different approaches to pre-approving audit and non-audit services. The Committee may approve services without consideration of specific case-by-case services ("general pre-approval") or it may pre-approve specific services ("specific pre-approval"). The Committee believes that the combination of these approaches contemplated in this Policy results in an effective and efficient method for pre-approving audit and non-audit services to be performed by the Funds' independent auditors. Under this Policy, services that are not of a type that may receive general pre-approval require specific pre-approval by the Committee. Any proposed services that exceed pre-approved cost levels or budgeted amounts will also require the Committee's specific pre-approval.

For both types of approval, the Committee considers whether the subject services are consistent with the SEC's rules on auditor independence and that such services are compatible with maintaining the auditors independence. The Committee also considers whether a particular audit firm is in the best position to provide effective and efficient services to the Funds. Reasons that the auditors are in the best position include the auditors' familiarity with the Funds' business, personnel, culture, accounting systems, risk profile, and other factors, and whether the services will enhance the Funds' ability to manage and control risk or improve audit quality. Such factors will be considered as a whole, with no one factor being determinative.

The appendices attached to this Policy describe the audit, audit-related, tax-related, and other services that have the Committee's general pre-approval. For any service that has been approved through general pre-approval, the general pre-approval will remain in place for a period 12 months from the date of pre-approval, unless the Committee determines that a different period is appropriate. The Committee will annually review and pre-approve the services that may be provided by the independent auditors without specific pre-approval. The Committee will revise the list of services subject to general pre-approval as appropriate. This Policy does not serve as a delegation to Fund management of the Committee's duty to pre-approve services performed by the Funds' independent auditors.

**II.** **Audit Services** 

The annual audit services engagement terms and fees are subject to the Committee's specific pre-approval. Audit services are those services that are normally provided by auditors in connection with statutory and regulatory filings or engagements or those that generally only independent auditors can reasonably provide. They include the Funds' annual financial statement audit and procedures that the independent auditors must perform in order to form an opinion on the Funds' financial statements (*e.g.*, information systems and procedural reviews and testing). The Committee will monitor the audit services engagement and approve any changes in terms, conditions or fees deemed by the Committee to be necessary or appropriate.

The Committee may grant general pre-approval to other audit services, such as statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or issued in connection with securities offerings.

The Committee has pre-approved the audit services listed on Appendix A. The Committee must specifically approve all audit services not listed on Appendix A.

**III.** **Audit-related Services** 

Audit-related services are assurance and related services that are reasonably related to the performance of the audit or the review of the Funds' financial statements or are traditionally performed by the independent auditors. The Committee believes that the provision of audit-related services will not impair the independent auditors' independence and therefore may grant pre-approval to audit-related services. Audit-related services include accounting consultations related to accounting, financial reporting or disclosure matters not classified as "audit services;" assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements under Form N-CEN or Form N-CSR.

The Committee has pre-approved the audit-related services listed on Appendix B. The Committee must specifically approve all audit-related services not listed on Appendix B.

**IV.** **Tax Services** 

The Committee believes the independent auditors can provide tax services to the Funds, including tax compliance, tax planning, and tax advice, without compromising the auditors' independence. Therefore, the Committee may grant general pre-approval with respect to tax services historically provided by the Funds' independent auditors that do not, in the Committee's view, impair auditor independence and that are consistent with the SEC's rules on auditor independence.

The Committee will not grant pre-approval if the independent auditors initially recommend a transaction the sole business purpose of which is tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Committee may consult

outside counsel to determine that tax planning and reporting positions are consistent with this Policy.

The Committee has pre-approved the tax-related services listed on Appendix C. The Committee must specifically approve all tax-related services not listed on Appendix C.

**V.** **Other Services** 

The Committee believes it may grant approval of non-audit services that are permissible services for independent auditors to a Fund. The Committee has determined to grant general pre-approval to other services that it believes are routine and recurring, do not impair auditor independence, and are consistent with SEC rules on auditor independence.

The Committee has pre-approved the non-audit services listed on Appendix D. The Committee must specifically approve all non-audit services not listed on Appendix D.

A list of the SEC's prohibited non-audit services is attached to this Policy as Appendix E. The SEC's rules and relevant guidance should be consulted to determine the precise definitions of these impermissible services and the applicability of exceptions to certain of the SEC's prohibitions.

**VI.** **Pre-approval of Fee levels and Budgeted Amounts** 

The Committee will annually establish pre-approval fee levels or budgeted amounts for audit, audit-related, tax and non-audit services to be provided to the Funds by the independent auditors. Any proposed services exceeding these levels or amounts require the Committee's specific pre-approval. The Committee considers fees for audit and non-audit services when deciding whether to pre-approve services. The Committee may determine, for a pre-approval period of 12 months, the appropriate ratio between the total amount of fees for the Fund's audit, audit-related, and tax services (including fees for services provided to Fund affiliates that are subject to pre-approval), and the total amount of fees for certain permissible non-audit services for the Fund classified as other services (including any such services provided to Fund affiliates that are subject to pre-approval).

**VII.** **Procedures** 

Requests or applications for services to be provided by the independent auditors will be submitted to management. If management determines that the services do not fall within those services generally pre-approved by the Committee and set out in the appendices to these procedures, management will submit the services to the Committee or its delagee. Any such submission will include a detailed description of the services to be rendered. Notwithstanding this paragraph, the Committee will, on a quarterly basis, receive from the independent auditors a list of services provided for the previous calendar quarter on a cumulative basis by the auditors during the Pre-Approval Period.

**VIII.** **Delegation** 

The Committee may delegate pre-approval authority to one or more of the Committee's members. Any member or members to whom such pre-approval authority is delegated must report any pre-approval decisions, including any pre-approved services, to the Committee at its next scheduled meeting. The Committee will identify any member to whom pre-approval authority is delegated in writing. The member will retain such authority for a period of 12 months from the date of pre-approval unless the Committee determines that a different period is appropriate. The period of delegated authority may be terminated by the Committee or at the option of the member.

**IX.** **Additional Requirements** 

The Committee will take any measures the Committee deems necessary or appropriate to oversee the work of the independent auditors and to assure the auditors' independence from the Funds. This may include reviewing a formal written statement from the independent auditors delineating all relationships between the auditors and the Funds, consistent withPCAOB Rule 3526, and discussing with the auditors their methods and procedures for ensuring independence.

Last Approved: November 13, 2025

Appendix A

Pre-Approved Audit Services for the Pre-Approval Period January 1, 2026 through December 31, 2026

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
|  | &nbsp;&nbsp;The Fund(s) | &nbsp;&nbsp;Fee Range |
| &nbsp;&nbsp;Statutory audits or financial audits (including tax services associated with audit services) | &nbsp;&nbsp;√ | &nbsp;&nbsp;As presented to Audit Committee<sup>1</sup> |
| &nbsp;&nbsp;Services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (*e.g.*, consents), and assistance in responding to SEC comment letters. | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $9,750 per filing |
| &nbsp;&nbsp;Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $8,000 during the Pre-Approval Period |
| &nbsp;&nbsp;Seed capital audit and related review and issuance of consent on the N-2 registration statement | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $14,750 per audit |

---

<sup>1</sup> For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors' Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling.

Appendix B

Pre-Approved Audit-Related Services for the Pre-Approval Period January 1, 2026 through December 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
|  | &nbsp;&nbsp;The Fund(s) | &nbsp;&nbsp;Fund Affiliates | &nbsp;&nbsp;Fee Range |
| &nbsp;&nbsp;Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | &nbsp;&nbsp;√ | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $10,000 per merger |
| &nbsp;&nbsp;Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. [**Note:** Under SEC rules some consultations may be "audit" services and others may be "audit-related" services.] | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;Not to exceed $5,000 per occurrence during the Pre-Approval Period |
| &nbsp;&nbsp;Review of the Funds' semi-annual and quarterly financial statements | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;Not to exceed $2,700 per set of financial statements per fund |
| &nbsp;&nbsp;Reports to regulatory or government agencies related to the annual engagement | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;Up to $5,000 per occurrence during the Pre-Approval Period |
| &nbsp;&nbsp;Regulatory compliance assistance | &nbsp;&nbsp;√ | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $5,000 per quarter |
| &nbsp;&nbsp;Training courses |  | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $5,000 per course |

---

Appendix C

Pre-Approved Tax Services for the Pre-Approval Period January 1, 2026 through December 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
|  | &nbsp;&nbsp;The Fund(s) | &nbsp;&nbsp;Fund<br> Affiliates | &nbsp;&nbsp;Fee Range |
| &nbsp;&nbsp;Preparation of federal and state income tax returns and federal excise tax returns for the Funds including assistance and review with excise tax distributions (Funds fees) | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;As presented to Audit Committee<sup>2</sup> |
| &nbsp;&nbsp;Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;As presented to Audit Committee<sup>2</sup> |
| &nbsp;&nbsp;Tax assistance and advice regarding statutory, regulatory or administrative developments | &nbsp;&nbsp;√ | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $5,000 for the Funds or for the Funds' investment adviser during the Pre-Approval Period |

---

<sup>2</sup> For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors' Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling.

Appendix C, *continued* Pre-Approved Tax Services for the Pre-Approval Period January 1, 2026 through December 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
|  | &nbsp;&nbsp;The Fund(s) | &nbsp;&nbsp;Fund<br> Affiliates | &nbsp;&nbsp;Fee Range |
| &nbsp;&nbsp;Tax and technology training sessions |  | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $5,000 per course during the Pre-Approval Period |
| &nbsp;&nbsp;Tax services associated with Fund mergers | &nbsp;&nbsp;√ | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $4,000 per fund per merger during the Pre-Approval Period |
| &nbsp;&nbsp; <br> Tax compliance services related to return preparation for the Funds (Adviser Fees)<br>|  | &nbsp;&nbsp;√ | &nbsp;&nbsp;As presented to Audit Committee<sup>3</sup> |
| &nbsp;&nbsp;Other tax-related assistance and consultation, including, without limitation, assistance in evaluating derivative financial instruments and international tax issues, qualification and distribution issues, year-end reporting for 1099's, tax compliance services in foreign jurisdictions and similar routine tax consultations as requested. | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;Not to exceed $300,000 during the Pre-Approval Period |
| &nbsp;&nbsp;EU Reclaims IRS Closing Agreement Filings | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;$20,000 per Fund first closing agreement, $5,000 for subsequent closing agreements for same Fund |

---

<sup>3</sup> For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors' Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
| &nbsp;&nbsp;German Tax Treaty Reclaims | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $2,500 per fund during the Pre-Approval Period |

---

Appendix D

Pre-Approved Other Services for the Pre-Approval Period January 1, 2026 through December 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service | &nbsp;&nbsp;Service |
|  | &nbsp;&nbsp;The Fund(s) | &nbsp;&nbsp;Fund Affiliates | &nbsp;&nbsp;Fee Range |
| &nbsp;&nbsp;Agreed-upon procedures for Class B share 12b-1 programs |  | &nbsp;&nbsp;√ | &nbsp;&nbsp;Not to exceed $60,000 during the Pre-Approval Period |
| &nbsp;&nbsp; Security counts performed pursuant to Rule 17f-2 of the 1940 Act (*i.e.*, counts for Funds holding securities with affiliated sub-custodians)<br>Cost to be borne 50% by the Funds and 50% by Voya Investments, LLC.<br>| &nbsp;&nbsp; √<br>| &nbsp;&nbsp; √<br>| &nbsp;&nbsp;Not to exceed $5,700 per Fund during the Pre-Approval Period |
| &nbsp;&nbsp;Agreed upon procedures for 15 (c) FACT Books | &nbsp;&nbsp;√ |  | &nbsp;&nbsp;Not to exceed $50,000 during the Pre-Approval Period |

---

Appendix E

Prohibited Non-Audit Services

Dated: January 1, 2026 to December 31, 2026

● Bookkeeping or other services related to the accounting records or financial statements of the Funds

● Financial information systems design and implementation

● Appraisal or valuation services, fairness opinions, or contribution-in-kind reports

● Actuarial services

● Internal audit outsourcing services

● Management functions

● Human resources

● Broker-dealer, investment adviser, or investment banking services

● Legal services

● Expert services unrelated to the audit

● Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible.

**<u>EXHIBIT A</u>**

VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND

VOYA CREDIT INCOME FUND

VOYA EMERGING MARKETS HIGH DIVIDEND EQUITY FUND

VOYA ENHANCED SECURITIZED INCOME FUND

VOYA EQUITY TRUST

VOYA FUNDS TRUST

VOYA GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND

VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND

VOYA INFRASTRUCTURE, INDUSTRIALS, AND MATERIALS FUND

VOYA INTERMEDIATE BOND PORTFOLIO

VOYA INVESTORS TRUST

VOYA GOVERNMENT MONEY MARKET PORTFOLIO

VOYA MUTUAL FUNDS

VOYA PARTNERS, INC.

VOYA SEPARATE PORTFOLIOS TRUST

VOYA VARIABLE FUNDS

VOYA VARIABLE INSURANCE TRUST

VOYA VARIABLE PORTFOLIOS INC,

VOYA VARIABLE PRODUCTS TRUST

---

| | |
|:---|:---|
| (e)(2) | <u>Percentage of services referred to in 4(b) – (4)(d) that were approved by the audit committee</u> |

---

There were no services, or 0%, provided to the registrant by EY that were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) <u>Percentage of hours expended attributable to work performed by other than full time employees of EY if greater than 50%</u> 

Not applicable.

(g) <u>Non-Audit Fees</u>: The following table presents (i) the aggregate non-audit fees (*i.e*., fees for audit-related, tax, and
other services) billed and paid to the Registrant by the independent registered public accounting firm for the Registrant's fiscal
years ended March 31, 2026 and March 31, 2025; and (ii) the aggregate non-audit fees billed to the investment adviser, or any of its affiliates
that provide ongoing services to the registrant, by the independent registered public accounting firm for the same time periods.

---

| | | |
|:---|:---|:---|
| **Registrant/Investment Adviser** | **2026** | **2025** |
| Voya Funds Trust | $93005 | $87895 |
| Voya Investments, LLC <sup>(1)</sup> | $11720445 | $15080826 |

---

<sup>(1)</sup> The Registrant's investment adviser and any of its affiliates, which are subsidiaries of Voya Financial, Inc.

(h) <u>Principal Accountants Independence</u>: The Registrant's Audit committee has considered whether the provision of non-audit
services that were rendered to the registrant's investment adviser and any entity controlling, controlled by, or under common control
with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii)
of Regulation S-X is compatible with maintaining EY's independence.

(i) Not applicable.

(j) Not applicable.

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

Not applicable.

**Item 6. Investments.** 

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

(b) Not applicable.

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

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

![](tm269275d1_img001.jpg)

Annual Financial Statements and Other Information

**March 31, 2026**

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.

---

| | |
|:---|:---|
| ![](tm269275d1_img002.jpg) | &nbsp;&nbsp;E-Delivery Sign-up – details inside |

---

---

| | |
|:---|:---|
| **INVESTMENT MANAGEMENT**<br>**voyainvestments.com** | ![](tm269275d1_img003.jpg) |

---

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#a001) | [1](#a001) |
| [Statements of Assets and Liabilities](#a002) | [3](#a002) |
| [Statements of Operations](#a003) | [9](#a003) |
| [Statements of Changes in Net Assets](#a004) | [13](#a004) |
| [Financial Highlights](#a005) | [16](#a005) |
| [Notes to Financial Statements](#a006) | [21](#a006) |
| [Portfolios of Investments](#a007) | [44](#a007) |
| [Tax Information](#a008) | [222](#a008) |
| [Advisory and Sub-Advisory Contract Approval Discussion](#a009) | [223](#a009) |

---

---

| |
|:---|
| **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 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.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of Voya GNMA Income Fund, Voya High Yield Bond Fund, Voya Intermediate Bond Fund, Voya Short Duration Bond Fund, Voya Short Duration High Income Fund and Voya Strategic Income Opportunities Fund and the Board of Trustees of Voya Funds Trust

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of Voya GNMA Income Fund, Voya High Yield Bond Fund, Voya Intermediate Bond Fund, Voya Short Duration Bond Fund, Voya Short Duration High Income Fund, and Voya Strategic Income Opportunities Fund (collectively referred to as the "Funds") (six of the funds constituting Voya Funds Trust (the "Trust")), including the portfolios of investments, as of March 31, 2026, and the related statements of operations and changes in net assets and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the funds constituting Voya Funds Trust) at March 31, 2026, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Individual fund constituting | Statement of | Statements of changes in | &nbsp;&nbsp;Financial highlights |
| &nbsp;&nbsp;Voya Funds Trust | Operations | net assets |  |
| &nbsp;&nbsp;Voya GNMA Income Fund | For the year ended | For each of the two years | &nbsp;&nbsp;For each of the five years |
| &nbsp;&nbsp;Voya High Yield Bond Fund | March 31, 2026 | in the period ended | &nbsp;&nbsp;in the period ended |
| &nbsp;&nbsp;Voya Intermediate Bond Fund |  | March 31, 2026 | &nbsp;&nbsp;March 31, 2026 |
| &nbsp;&nbsp;Voya Short Duration Bond Fund |  |  |  |
| &nbsp;&nbsp;Voya Strategic Income Opportunities Fund |  |  |  |
| &nbsp;&nbsp;Voya Short Duration High Income Fund | For the year ended | For each of the two years | &nbsp;&nbsp;For each of the three |
|  | March 31, 2026 | in the period ended | &nbsp;&nbsp;years in the period ended |
|  |  | March 31, 2026 | &nbsp;&nbsp;March 31, 2026, and the |
|  |  |  | &nbsp;&nbsp;period from February 9, |
|  |  |  | &nbsp;&nbsp;2023 (commencement |
|  |  |  | &nbsp;&nbsp;of operations) through |
|  |  |  | &nbsp;&nbsp;March 31, 2023 |

---

**Basis for Opinion**

These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on each of the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (continued)

![](tm269275d1_img004.jpg)

We have served as the auditor of one or more Voya investment companies since 2019.

Boston, Massachusetts

May 27, 2026

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **ASSETS:** |  |  |  |
| Investments in securities at fair value+\* | $1391230050 | $206988382 | $9741327498 |
| Investments in affiliated underlying funds at fair value<sup>\*\*</sup> |  |  | 334386275 |
| Short-term investments at fair value† | 2568044 | 8514821 | 2830093591 |
| Cash |  |  | 118412264 |
| Cash collateral for futures contracts | 3041944 |  | 51133164 |
| Cash pledged for centrally cleared swaps (Note 2) |  |  | 81153600 |
| Cash pledged as collateral for OTC derivatives (Note 2) |  |  | 11970000 |
| Cash pledged as collateral for delayed-delivery or when-issued securities (Note 2) | 1673000 |  | 7215666 |
| Foreign currencies at value‡ |  |  | 193 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold |  |  | 205113888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold on a delayed-delivery or when-issued basis | 340150737 |  | 236419300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 578953 | 34929 | 6032943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends |  | 38553 | 1884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 3997132 | 3511604 | 66108058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts |  |  | 4068467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swaps |  |  | 3416040 |
| Unrealized appreciation on forward foreign currency contracts |  |  | 1138975 |
| Unrealized appreciation on forward premium swaptions |  |  | 4458540 |
| Unrealized appreciation on OTC swap agreements |  |  | 400271 |
| Prepaid expenses | 37090 | 47389 | 73776 |
| Reimbursement due from Investment Adviser | 313761 |  | 977750 |
| Due from broker | 1242505 |  | 4242000 |
| Other assets | 38487 | 15548 | 176239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 1744871703 | 219151226 | 13708320382 |
| **LIABILITIES:** |  |  |  |
| Income distribution payable | 627917 | 24495 | 5081736 |
| Payable for investment securities purchased | 6406 | 4738969 | 401704597 |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | 657006050 |  | 1276211566 |
| Payable for fund shares redeemed | 2286499 | 419374 | 30510727 |
| Payable upon receipt of securities loaned |  |  | 780062026 |
| Sales commitments^^^ | 12748791 |  |  |
| Unrealized depreciation on forward foreign currency contracts |  |  | 5015 |
| Unrealized depreciation on forward premium swaptions |  |  | 8421928 |
| Upfront payments received on OTC swap agreements |  |  | 115785 |
| Unrealized depreciation on OTC swap agreements |  |  | 3186878 |
| Variation margin payable on futures contracts | 326761 |  |  |
| Cash received as collateral for OTC derivatives (Note 2) |  |  | 940000 |
| Payable for investment management fees | 409729 | 103077 | 2337996 |
| Payable for distribution and shareholder service fees | 66129 | 7456 | 80523 |
| Payable to custodian due to bank overdraft | 899082 |  |  |
| Payable to trustees under the deferred compensation plan (Note 6) | 38487 | 15548 | 176239 |
| Payable for trustee fees | 2737 | 696 | 24587 |
| Other accrued expenses and liabilities | 483303 | 132505 | 2780430 |
| Written options, at fair value^ | – | – | 798878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 674901891 | 5442120 | 2512438911 |
| **NET ASSETS** | $1069969812 | $213709106 | $11195881471 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **NET ASSETS WERE COMPRISED OF:** | **NET ASSETS WERE COMPRISED OF:** | | | |
| Paid-in capital | Paid-in capital | $1266538169 | $261300888 | $12606452631 |
| Total distributable loss | Total distributable loss | (196568357) | (47591782) | (1410571160) |
| **NET ASSETS** | **NET ASSETS** | $1069969812 | $213709106 | $11195881471 |
| + | Including securities loaned at value | $— | $— | $760792727 |
| \* | Cost of investments in securities | $1469475416 | $209407024 | $9932280122 |
| \*\* | Cost of investments in affiliated underlying funds | $— | $— | $332472056 |
| † | Cost of short-term investments | $2568032 | $8514821 | $2830510230 |
| ‡ | Cost of foreign currencies | $— | $— | $188 |
| ^ | Premiums received on written options | $— | $— | $1116788 |
| ^^^ | Proceeds receivable from sales commitments | $12779511 | $— | $— |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026 (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 | $283363922 | $30128683 | $159112421 |
| &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 | 37725162 | 4366210 | 18176858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $7.51 | $6.90 | $8.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum offering price per share (2.50%)<sup>(1)</sup> | $7.70 | $7.08 | $8.97 |
| **Class C** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $6361835 | $1090994 | $4856151 |
| &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 | 851128 | 158256 | 555556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $7.47 | $6.89 | $8.74 |
| **Class I** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $725654571 | $75920811 | $7846090338 |
| &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 | 96425614 | 11038017 | 896366936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.53 | $6.88 | $8.75 |
| **Class R** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | n/a | $191336 | $97932480 |
| &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 | 27725 | 11172667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | n/a | $6.90 | $8.77 |
| **Class R6** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $11747341 | $72299973 | $3003158803 |
| &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 | 1560889 | 10475841 | 342930095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.53 | $6.90 | $8.76 |
| **Class W** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $42842143 | $34077309 | $84731278 |
| &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 | 5683568 | 4931319 | 9687517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $7.54 | $6.91 | $8.75 |

---

---

| | |
|:---|:---|
| <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 March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **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+\* | $357697272 | $186134060 | $1981401942 |
| Short-term investments at fair value† | 20484967 | 15049955 | 232444581 |
| Cash | 70839 |  |  |
| Cash collateral for futures contracts | 1253921 |  | 7587994 |
| Cash pledged for centrally cleared swaps (Note 2) | 196200 |  | 26658246 |
| Cash pledged as collateral for OTC derivatives (Note 2) |  |  | 8050000 |
| Foreign currencies at value‡ |  |  | 11213473 |
| Receivables: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 1102156 | 2002500 | 114577303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold on a delayed-delivery or when-issued basis |  |  | 205246986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 58306 | 7700 | 4396878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | 4301 | 19313 | 53651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 2401767 | 3003862 | 15035793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign tax reclaims |  |  | 108681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 18402 |  | 503370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swaps | 4785 |  | 374288 |
| Unrealized appreciation on forward foreign currency contracts |  |  | 733922 |
| Unrealized appreciation on forward premium swaptions |  |  | 1860943 |
| Unrealized appreciation on OTC swap agreements |  |  | 168857 |
| Prepaid expenses | 45445 | 78224 | 62160 |
| Reimbursement due from Investment Adviser | 14145 | 43368 | 149501 |
| Other assets | 7019 | 32943 | 30556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 383359525 | 206371925 | 2610659125 |
| **LIABILITIES:** |  |  |  |
| Income distribution payable | 907 | 13494 | 597915 |
| Payable for investment securities purchased | 5337174 |  | 191943206 |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis |  |  | 134437431 |
| Payable for fund shares redeemed | 700356 | 1506058 | 4560746 |
| Payable upon receipt of securities loaned | 5056561 | 8154777 | 32237337 |
| Sales commitments^^^ |  |  | 156467090 |
| Unrealized depreciation on forward foreign currency contracts |  |  | 314825 |
| Unrealized depreciation on forward premium swaptions |  |  | 4486396 |
| Unrealized depreciation on OTC swap agreements |  |  | 2045868 |
| Cash received as collateral for OTC derivatives (Note 2) |  |  | 880000 |
| Payable for investment management fees | 79758 | 115566 | 858207 |
| Payable for distribution and shareholder service fees | 600 | 24553 | 43496 |
| Payable to custodian due to bank overdraft |  |  | 70108072 |
| Payable to trustees under the deferred compensation plan (Note 6) | 7019 | 32943 | 30556 |
| Payable for trustee fees | 1201 | 569 | 5305 |
| Other accrued expenses and liabilities | 87208 | 140878 | 559603 |
| Unfunded loan commitments (Note 10) |  |  | 337942 |
| Written options, at fair value^ | 66915 | – | 3344218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 11337699 | 9988838 | 603258213 |
| **NET ASSETS** | $372021826 | $196383087 | $2007400912 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026 (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:** | **NET ASSETS WERE COMPRISED OF:** | | | |
| Paid-in capital | Paid-in capital | $399778678 | $447264172 | $2264213480 |
| Total distributable loss | Total distributable loss | (27756852) | (250881085) | (256812568) |
| **NET ASSETS** | **NET ASSETS** | $372021826 | $196383087 | $2007400912 |
| + | Including securities loaned at value | $4953362 | $7930850 | $31391620 |
| \* | Cost of investments in securities | $356651791 | $188911895 | $2015804383 |
| † | Cost of short-term investments | $20486623 | $15049955 | $232500454 |
| ‡ | Cost of foreign currencies | $— | $— | $10945420 |
| ^ | Premiums received on written options | $83060 | $— | $2876158 |
| ^^^ | Proceeds receivable from sales commitments | $— | $— | $156707854 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026 (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 | $2212941 | $79572813 | $58751917 |
| &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 | 237174 | 8489197 | 6327713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $9.33 | $9.37 | $9.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum offering price per share (2.50%)<sup>(1)</sup> | $9.57 | $9.61 | $9.52 |
| **Class C** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $97820 | $8652685 | $27901208 |
| &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 | 10471 | 911684 | 3049903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share† | $9.34 | $9.49 | $9.15 |
| **Class I** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $53026724 | $104040356 | $1612622771 |
| &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 | 5682280 | 11106743 | 173538237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.33 | $9.37 | $9.29 |
| **Class R** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $22469 | n/a | $15045659 |
| &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 | 2398 | n/a | 1633634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.37 | n/a | $9.21 |
| **Class R6** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $309941000 | $4911 | $277828031 |
| &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 | 33197699 | 524 | 29987051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.34 | $9.38 | $9.26 |
| **Class W** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets | $6720872 | $4112322 | $15251326 |
| &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 | 717893 | 439008 | 1646671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net asset value and redemption price per share | $9.36 | $9.37 | $9.26 |

---

---

| | |
|:---|:---|
| <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 year ended March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $— | $422932 | $184787 |
| Dividends from affiliated underlying funds |  |  | 2303243 |
| Interest, net of foreign taxes withheld\* | 45812804 | 17762801 | 472148524 |
| Securities lending income, net |  | 32359 | 1836969 |
| Other | 6528 | 1715 | 58091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 45819332 | 18219807 | 476531614 |
| **EXPENSES:** |  |  |  |
| Investment management fees | 4908693 | 1698349 | 26557469 |
| Distribution and shareholder service fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 720181 | 79747 | 436165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 72442 | 11903 | 54303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R |  | 1324 | 506022 |
| Transfer agent fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 641776 | 48069 | 255914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 15432 | 1789 | 7985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 822580 | 85785 | 4793240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R |  | 392 | 149802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 98 | 395 | 22071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 97465 | 54578 | 126386 |
| Shareholder reporting expense | 213600 | 38741 | 530872 |
| Registration fees | 85268 | 93293 | 214885 |
| Professional fees | 80743 | 24573 | 695018 |
| Custody and accounting expense | 218504 | 21806 | 693695 |
| Trustee fees | 27376 | 6960 | 245867 |
| Miscellaneous expense | 107245 | 36655 | 686052 |
| Interest expense | 96 | 771 | 1934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 8011499 | 2205130 | 35977680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (1086738) | (139213) | (1221411) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 6924761 | 2065917 | 34756269 |
| Net investment income | 38894571 | 16153890 | 441775345 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (4793756) | 6741934 | 38163206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (27360989) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 6522042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (5481268) |  | (20996873) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  | 310624 | (1327593) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options |  |  | 9427599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments | (66653) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) | (10341677) | 7052558 | 4427392 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 19970665 | (2988138) | 34926588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated underlying funds |  |  | 1914219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | 2208109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | (11419) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 4784680 |  | (31368818) |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the year ended March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya GNMA**<br>**Income Fund** | **Voya High Yield**<br>**Bond Fund** | **Voya Intermediate**<br>**Bond Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  |  | 6532886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options |  |  | (2554815) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments | 77561 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 24832906 | (2988138) | 11646750 |
| Net realized and unrealized gain | 14491229 | 4064420 | 16074142 |
| **Increase in net assets resulting from operations** | $53385800 | $20218310 | $457849487 |
| \*&nbsp;&nbsp;&nbsp;&nbsp; Foreign taxes withheld | $19677 | $— | $— |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the year ended March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **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 | $145236 | $448910 | $611744 |
| Interest | 23946258 | 15825484 | 118507329 |
| Securities lending income, net | 18633 | 100869 | 136602 |
| Other | 2943 | 1376 | 12664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 24113070 | 16376639 | 119268339 |
| **EXPENSES:** |  |  |  |
| Investment management fees | 1201180 | 1083664 | 10609783 |
| Distribution and shareholder service fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 7713 | 150507 | 178570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 968 | 76926 | 300382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R | 275 |  | 76268 |
| Transfer agent fees: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 4584 | 39684 | 49136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 148 | 4605 | 20633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 9891 | 105973 | 1228160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R | 83 |  | 10529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 634 | 30 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 10687 | 2011 | 11117 |
| Shareholder reporting expense | 6170 | 59642 | 163737 |
| Registration fees | 87756 | 132166 | 138452 |
| Professional fees | 42597 | 37826 | 161752 |
| Custody and accounting expense | 98891 | 50147 | 411085 |
| Trustee fees | 12012 | 5686 | 53048 |
| Miscellaneous expense | 55870 | 31672 | 192654 |
| Interest expense |  |  | 1247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 1539459 | 1780539 | 13607079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (36440) | (181645) | (188201) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 1503019 | 1598894 | 13418878 |
| Net investment income | 22610051 | 14777745 | 105849461 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 3737745 | (18199283) | 12999726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | (14001453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 2860455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 442889 |  | (3552253) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | (45382) |  | 211815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | 375727 |  | 6614877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments |  |  | (2463872) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) | 4510979 | (18199283) | 2669295 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (2193395) | 6086484 | 560114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts |  |  | 588004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  |  | 241018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (1598445) |  | (3723270) |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the year ended March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
|  | **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 | (52348) |  | 2371492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written options | 18034 |  | (2547343) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales commitments |  |  | 495892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (3826154) | 6086484 | (2014093) |
| Net realized and unrealized gain (loss) | 684825 | (12112799) | 655202 |
| **Increase in net assets resulting from operations** | $23294876 | $2664946 | $106504663 |

---

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** |
|  | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $38894571 | $41588682 | $16153890 | $26769676 |
| Net realized gain (loss) | (10341677) | (104702) | 7052558 | (4248320) |
| Net change in unrealized appreciation (depreciation) | 24832906 | 22026934 | (2988138) | 3995045 |
| Increase in net assets resulting from operations | 53385800 | 63510914 | 20218310 | 26516401 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (10803446) | (10029263) | (1779742) | (2138491) |
| &nbsp;&nbsp;Class C | (216592) | (223589) | (57812) | (229759) |
| &nbsp;&nbsp;Class I | (29966438) | (29261043) | (6180623) | (9402040) |
| &nbsp;&nbsp;Class R |  |  | (14612) | (19785) |
| &nbsp;&nbsp;Class R6 | (608049) | (898365) | (6675670) | (12077257) |
| &nbsp;&nbsp;Class W | (1750866) | (1710697) | (2103113) | (2689695) |
| Return of capital: |  |  |  |  |
| &nbsp;&nbsp;Class A |  |  | (57768) |  |
| &nbsp;&nbsp;Class C |  |  | (2090) |  |
| &nbsp;&nbsp;Class I |  |  | (140659) |  |
| &nbsp;&nbsp;Class R |  |  | (360) |  |
| &nbsp;&nbsp;Class R6 |  |  | (138335) |  |
| &nbsp;&nbsp;Class W |  |  | (66612) |  |
| Total distributions | (43345391) | (42122957) | (17217396) | (26557027) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 329649669 | 357259822 | 52725990 | 123520158 |
| Reinvestment of distributions | 36537004 | 35954488 | 16531446 | 24863213 |
|  | 366186673 | 393214310 | 69257436 | 148383371 |
| Cost of shares redeemed | (416009185) | (571644335) | (215912587) | (266598395) |
| Net decrease in net assets resulting from capital share transactions | (49822512) | (178430025) | (146655151) | (118215024) |
| Net decrease in net assets | (39782103) | (157042068) | (143654237) | (118255650) |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 1109751915 | 1266793983 | 357363343 | 475618993 |
| End of year or period | $1069969812 | $1109751915 | $213709106 | $357363343 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | | **Voya Short Duration** | **Voya Short Duration** |
|  | **Voya Intermediate Bond Fund** | **Voya Intermediate Bond Fund** | **Bond Fund** | **Bond Fund** |
|  | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $441775345 | $412869895 | $22610051 | $27775642 |
| Net realized gain (loss) | 4427392 | (122706847) | 4510979 | (1496346) |
| Net change in unrealized appreciation (depreciation) | 11646750 | 188399061 | (3826154) | 6305917 |
| Increase in net assets resulting from operations | 457849487 | 478562109 | 23294876 | 32585213 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (7436029) | (9379446) | (134907) | (157956) |
| &nbsp;&nbsp;Class C | (190650) | (230359) | (3489) | (3125) |
| &nbsp;&nbsp;Class I | (301258740) | (280755291) | (2315823) | (1736225) |
| &nbsp;&nbsp;Class R | (4060604) | (4302815) | (2252) | (1522) |
| &nbsp;&nbsp;Class R6 | (138632571) | (124105599) | (19878784) | (25431988) |
| &nbsp;&nbsp;Class W | (3832938) | (4291956) | (325728) | (410891) |
| Total distributions | (455411532) | (423065466) | (22660983) | (27741707) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 3407794283 | 2736763127 | 135917883 | 278286657 |
| Reinvestment of distributions | 396761066 | 367698110 | 22648879 | 27542616 |
|  | 3804555349 | 3104461237 | 158566762 | 305829273 |
| Cost of shares redeemed | (2117523371) | (2154398990) | (381311372) | (268802186) |
| Net increase (decrease) in net assets resulting from capital share transactions | 1687031978 | 950062247 | (222744610) | 37027087 |
| Net increase (decrease) in net assets | 1689469933 | 1005558890 | (222110717) | 41870593 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 9506411538 | 8500852648 | 594132543 | 552261950 |
| End of year or period | $11195881471 | $9506411538 | $372021826 | $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** |
|  | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $14777745 | $15060839 | $105849461 | $110790732 |
| Net realized gain (loss) | (18199283) | 1593237 | 2669295 | (33592949) |
| Net change in unrealized appreciation (depreciation) | 6086484 | (7311506) | (2014093) | 58364042 |
| Increase in net assets resulting from operations | 2664946 | 9342570 | 106504663 | 135561825 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital): |  |  |  |  |
| &nbsp;&nbsp;Class A | (3914208) | (1422657) | (3211687) | (3456860) |
| &nbsp;&nbsp;Class C | (454354) | (238344) | (1121828) | (1420366) |
| &nbsp;&nbsp;Class I | (10895151) | (13780624) | (79182329) | (87091265) |
| &nbsp;&nbsp;Class R |  |  | (644636) | (784703) |
| &nbsp;&nbsp;Class R6 | (230762) | (1460398) | (14939445) | (16127689) |
| &nbsp;&nbsp;Class W | (193464) |  | (765825) | (918821) |
| Return of capital: |  |  |  |  |
| &nbsp;&nbsp;Class A |  |  | (86820) |  |
| &nbsp;&nbsp;Class C |  |  | (39545) |  |
| &nbsp;&nbsp;Class I |  |  | (2286923) |  |
| &nbsp;&nbsp;Class R |  |  | (21103) |  |
| &nbsp;&nbsp;Class R6 |  |  | (393573) |  |
| &nbsp;&nbsp;Class W |  |  | (21337) |  |
| Total distributions | (15687939) | (16902023) | (102715051) | (109799704) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 55418251 | 234554161 | 497268014 | 581918585 |
| Proceeds from shares issued in merger (Note 14) | 131542751 |  |  |  |
| Reinvestment of distributions | 15554533 | 16577886 | 95163226 | 101586222 |
|  | 202515535 | 251132047 | 592431240 | 683504807 |
| Cost of shares redeemed | (261124076) | (110861371) | (692247319) | (455076650) |
| Net increase (decrease) in net assets resulting from capital share transactions | (58608541) | 140270676 | (99816079) | 228428157 |
| Net increase (decrease) in net assets | (71631534) | 132711223 | (96026467) | 254190278 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 268014621 | 135303398 | 2103427379 | 1849237101 |
| End of year or period | $196383087 | $268014621 | $2007400912 | $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) from investment operations** | **Income (loss) from investment operations** | **Income (loss) from investment 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 Data** | **Supplemental 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<br> reductions/<br> additions<sup>(2)(3)</sup> | Expenses net of fee waivers <br>and/or recoupments if any<sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<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) | (%) |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 7.44 | 0.25 | <sup>•</sup> | 0.10 | 0.35 | 0.28 |  |  | 0.28 |  | 7.51 | **4.78** | 0.99 | 0.84 | 0.84 | 3.34 | 283364 | 432 |
| 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 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 7.41 | 0.19 | <sup>•</sup> | 0.09 | 0.28 | 0.22 |  |  | 0.22 |  | 7.47 | **3.87** | 1.74 | 1.59 | 1.59 | 2.58 | 6362 | 432 |
| 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 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 7.46 | 0.27 | <sup>•</sup> | 0.10 | 0.37 | 0.30 |  |  | 0.30 |  | 7.53 | **5.09** | 0.63 | 0.54 | 0.54 | 3.64 | 725655 | 432 |
| 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 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 7.46 | 0.27 | <sup>•</sup> | 0.11 | 0.38 | 0.31 |  |  | 0.31 |  | 7.53 | **5.14** | 0.51 | 0.51 | 0.51 | 3.65 | 11747 | 432 |
| 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 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 7.47 | 0.27 | <sup>•</sup> | 0.10 | 0.37 | 0.30 |  |  | 0.30 |  | 7.54 | **5.04** | 0.74 | 0.59 | 0.59 | 3.59 | 42842 | 432 |
| 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 |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.88 | 0.38 | <sup>•</sup> | 0.04 | 0.42 | 0.39 |  | 0.01 | 0.40 |  | 6.90 | **6.20** | 1.10 | 1.05 | 1.05 | 5.46 | 30129 | 162 |
| 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 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.88 | 0.33 | <sup>•</sup> | 0.03 | 0.36 | 0.34 |  | 0.01 | 0.35 |  | 6.89 | **5.26** | 1.85 | 1.80 | 1.80 | 4.73 | 1091 | 162 |
| 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 |
| 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 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.86 | 0.40 | <sup>•</sup> | 0.04 | 0.44 | 0.41 |  | 0.01 | 0.42 |  | 6.88 | **6.58** | 0.77 | 0.72 | 0.72 | 5.82 | 75921 | 162 |
| 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 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) from investment operations** | **Income (loss) from investment operations** | **Income (loss) from investment 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 Data** | **Supplemental 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<br> reductions/<br> additions<sup>(2)(3)</sup> | Expenses net of fee waivers <br>and/or recoupments if any<sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<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) | (%) |  |
| **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 I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** | **Class I (continued)** |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-23 | 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 |  |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.88 | 0.37 | <sup>•</sup> | 0.03 | 0.40 | 0.37 |  | 0.01 | 0.38 |  | 6.90 | **5.94** | 1.35 | 1.30 | 1.30 | 5.25 | 191 | 162 |  |
| 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 |  |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.88 | 0.41 | <sup>•</sup> | 0.04 | 0.45 | 0.42 |  | 0.01 | 0.43 |  | 6.90 | **6.64** | 0.69 | 0.64 | 0.64 | 5.93 | 72300 | 162 |  |
| 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 |  |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 6.89 | 0.40 | <sup>•</sup> | 0.04 | 0.44 | 0.41 |  | 0.01 | 0.42 |  | 6.91 | **6.47** | 0.85 | 0.80 | 0.80 | 5.71 | 34077 | 162 |  |
| 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 |  |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.75 | 0.37 | <sup>•</sup> | 0.01 | 0.38 | 0.38 |  |  | 0.38 |  | 8.75 | **4.34** | 0.70 | 0.68 | 0.68 | 4.16 | 159112 | 202 | <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> |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.74 | 0.30 | <sup>•</sup> | 0.01 | 0.31 | 0.31 |  |  | 0.31 |  | 8.74 | **3.56** | 1.45 | 1.43 | 1.43 | 3.41 | 4856 | 202 | <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> |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.75 | 0.40 | <sup>•</sup> | 0.01 | 0.41 | 0.41 |  |  | 0.41 |  | 8.75 | **4.72** | 0.37 | 0.36 | 0.36 | 4.49 | 7846090 | 202 | <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> |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.76 | 0.34 | <sup>•</sup> | 0.02 | 0.36 | 0.35 |  |  | 0.35 |  | 8.77 | **4.20** | 0.95 | 0.93 | 0.93 | 3.91 | 97932 | 202 | <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> |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.76 | 0.40 | <sup>•</sup> | 0.01 | 0.41 | 0.41 |  |  | 0.41 |  | 8.76 | **4.78** | 0.30 | 0.30 | 0.30 | 4.54 | 3003159 | 202 | <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> |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) from investment operations** | **Income (loss) from investment operations** | **Income (loss) from investment 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 Data** | **Supplemental 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<br> reductions/<br> additions<sup>(2)(3)</sup> | Expenses net of fee waivers <br>and/or recoupments if any<sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<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) | (%) |  |
| **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 R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** | **Class R6 (continued)** |  |  |  |  |  |  |  |  |  |  |  |  |
| 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> |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 8.74 | 0.39 | <sup>•</sup> | 0.02 | 0.41 | 0.40 |  |  | 0.40 |  | 8.75 | **4.72** | 0.45 | 0.43 | 0.43 | 4.42 | 84731 | 202 | <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> |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.37 | 0.41 | <sup>•</sup> | (0.04) | 0.37 | 0.41 |  |  | 0.41 |  | 9.33 | **4.00** | 0.72 | 0.66 | 0.66 | 4.35 | 2213 | 164 |  |
| 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 |  |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.37 | 0.34 | <sup>•</sup> | (0.03) | 0.31 | 0.34 |  |  | 0.34 |  | 9.34 | **3.34** | 1.47 | 1.41 | 1.41 | 3.58 | 98 | 164 |  |
| 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 |  |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.36 | 0.44 | <sup>•</sup> | (0.04) | 0.40 | 0.43 |  |  | 0.43 |  | 9.33 | **4.39** | 0.34 | 0.34 | 0.34 | 4.65 | 53027 | 164 |  |
| 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 |  |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.40 | 0.38 | <sup>•</sup> | (0.02) | 0.36 | 0.39 |  |  | 0.39 |  | 9.37 | **3.86** | 0.97 | 0.91 | 0.91 | 4.08 | 22 | 164 |  |
| 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 |  |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.37 | 0.44 | <sup>•</sup> | (0.03) | 0.41 | 0.44 |  |  | 0.44 |  | 9.34 | **4.45** | 0.31 | 0.31 | 0.31 | 4.72 | 309941 | 164 |  |
| 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 |  |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.39 | 0.43 | <sup>•</sup> | (0.03) | 0.40 | 0.43 |  |  | 0.43 |  | 9.36 | **4.38** | 0.47 | 0.41 | 0.41 | 4.59 | 6721 | 164 |  |
| 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 |  |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) from investment operations** | **Income (loss) from investment operations** | **Income (loss) from investment 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 Data** | **Supplemental 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<br> reductions/<br> additions<sup>(2)(3)</sup> | Expenses net of fee waivers <br>and/or recoupments if any<sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<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) | (%) |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.88 | 0.58 | <sup>•</sup> | (0.44) | 0.14 | 0.64 | 0.01 |  | 0.65 |  | 9.37 | **1.49** | 0.95 | 0.86 | 0.86 | 6.06 | 79573 | 40 |
| 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<sup>(4)</sup>- <br> 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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 10.00 | 0.54 | <sup>•</sup> | (0.46) | 0.08 | 0.58 | 0.01 |  | 0.59 |  | 9.49 | **0.79** | 1.69 | 1.61 | 1.61 | 5.54 | 8653 | 40 |
| 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<sup>(4)</sup>- <br> 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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.88 | 0.65 | <sup>•</sup> | (0.48) | 0.17 | 0.67 | 0.01 |  | 0.68 |  | 9.37 | **1.74** | 0.68 | 0.61 | 0.61 | 6.77 | 104040 | 40 |
| 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<sup>(4)</sup>- <br> 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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.88 | 0.73 | <sup>•</sup> | (0.55) | 0.18 | 0.67 | 0.01 |  | 0.68 |  | 9.38 | **1.85** | 0.57 | 0.57 | 0.57 | 7.55 | 5 | 40 |
| 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<sup>(4)</sup>- <br> 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 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 08-08-25<sup>(4)</sup>- <br> 03-31-26 | 9.62 | 0.38 | <sup>•</sup> | (0.23) | 0.15 | 0.39 | 0.01 |  | 0.40 |  | 9.37 | **1.61** | 0.71 | 0.61 | 0.61 | 6.14 | 4112 | 40 |
| **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** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.27 | 0.44 | <sup>•</sup> |  | 0.44 | 0.42 |  | 0.01 | 0.43 |  | 9.28 | **4.82** | 0.87 | 0.87 | 0.87 | 4.74 | 58752 | 316 |
| 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 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.14 | 0.37 | <sup>•</sup> |  | 0.37 | 0.35 |  | 0.01 | 0.36 |  | 9.15 | **4.04** | 1.62 | 1.62 | 1.62 | 4.01 | 27901 | 316 |
| 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 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.28 | 0.47 | <sup>•</sup> |  | 0.47 | 0.45 |  | 0.01 | 0.46 |  | 9.29 | **5.07** | 0.63 | 0.62 | 0.62 | 5.01 | 1612623 | 316 |
| 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 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.20 | 0.41 | <sup>•</sup> | 0.01 | 0.42 | 0.40 |  | 0.01 | 0.41 |  | 9.21 | **4.56** | 1.12 | 1.12 | 1.12 | 4.38 | 15046 | 316 |
| 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 |

---

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) from investment operations** | **Income (loss) from investment operations** | **Income (loss) from investment 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 Data** | **Supplemental 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<br> reductions/<br> additions<sup>(2)(3)</sup> | Expenses net of fee waivers <br>and/or recoupments if any<sup>(2)(3)</sup> | Expenses<br> net of all<br> reductions/<br> additions<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) | (%) |
| **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** | **Voya Strategic Income Opportunities Fund (continued)** |  |  |  |  |  |  |  |  |  |  |  |
| **Class R (continued)** | **Class R (continued)** | **Class R (continued)** | **Class R (continued)** | **Class R (continued)** | **Class R (continued)** | **Class R (continued)** | **Class R (continued)** |  |  |  |  |  |  |  |  |  |  |  |
| 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 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.25 | 0.47 | <sup>•</sup> |  | 0.47 | 0.45 |  | 0.01 | 0.46 |  | 9.26 | **5.15** | 0.55 | 0.55 | 0.55 | 5.06 | 277828 | 316 |
| 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 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 9.25 | 0.47 | <sup>•</sup> | (0.01) | 0.46 | 0.44 |  | 0.01 | 0.45 |  | 9.26 | **5.08** | 0.62 | 0.62 | 0.62 | 5.01 | 15251 | 316 |
| 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 |

---

<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.

\* 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 37% for the year ended March 31, 2026 and 47%, 45%, 36%, and 33% for the fiscal years ended March 31, 2025, 2024, 2023, and 2022, 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. |

---

See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026

**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 March 31, 2026 (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 March 31, 2026 (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 March 31, 2026 (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 March 31, 2026 (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 March 31, 2026, the maximum amount of loss that Intermediate Bond and Strategic Income Opportunities would incur if their relevant counterparties failed to perform would be $6,000,160 and $5,242,700, respectively, which represents the gross payments to be received by the Funds on purchased options, forward premium swaptions, forward foreign currency contracts, OTC interest rate swaps, OTC total return swaps and OTC volatility swaps were they to be unwound as of March 31, 2026. To reduce the amount of potential loss to Intermediate Bond and Strategic Income Opportunities, the Funds received $940,000 and $880,000, respectively, in cash collateral from certain counterparties at March 31, 2026.

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 March 31, 2026, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had a liability position of $12,528,484, $66,915 and $10,191,307, respectively, on forward foreign currency contracts, forward premium swaptions, OTC interest rate swaps, OTC total return swaps, written options and OTC volatility swaps. If a contingent feature would have been triggered as of March 31, 2026, the Funds could have been required to pay this amount in cash to their counterparties. At March 31, 2026, Intermediate Bond and Strategic Income Opportunities had pledged $11,970,000 and $8,050,000, respectively, in cash collateral to certain counterparties for open OTC derivatives. Short Duration Bond did not pledge any cash collateral for its open OTC derivatives as of March 31, 2026.

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 year ended March 31, 2026, 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 year ended March 31, 2026, 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 March 31, 2026.

---

| | | |
|:---|:---|:---|
|  | **Buy** | **Sell** |
| Intermediate Bond | $13518485 | $153840673 |
| Strategic Income Opportunities | 38665732 | 110164024 |

---

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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 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 year ended March 31, 2026, 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 year ended March 31, 2026, 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 March 31, 2026.

---

| | | |
|:---|:---|:---|
|  | **Purchased** | **Sold** |
| GNMA Income | $57949699 | $244713977 |
| Intermediate Bond | 1932660321 | 184685557 |
| Short Duration Bond | 230635085 | 41195305 |
| Strategic Income Opportunities | 545343015 | 234817621 |

---

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 March 31, 2026 (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 March 31, 2026, GNMA Income and Intermediate Bond had pledged $1,673,000 and $7,215,666 in cash collateral, respectively, to certain counterparties. At March 31, 2026, there was no cash collateral received from any 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 March 31, 2026 (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 year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had purchased interest rate swaptions to generate income with an average notional value of $119,916,802 and $51,763,044, 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 March 31, 2026.

During the year ended March 31, 2026, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had written interest rate swaptions to generate income with an average notional value of $123,851,026, $38,100,000 and $53,587,233, respectively. Please refer to the tables within the Portfolio of Investments for open written interest rate swaptions for Intermediate Bond, Short Duration Bond and Strategic Income Opportunities at March 31, 2026.

During the year ended March 31, 2026, Strategic Income Opportunities had purchased foreign currency options to manage its foreign exchange exposure with an average notional value of $32,934,886. Please refer to the tables within the Portfolio of Investments for open purchased options on foreign currencies for Strategic Income Opportunities at March 31, 2026.

During the year ended March 31, 2026, Strategic Income Opportunities had written foreign currency options to generate income with an average notional value of $37,730,969. Please refer to the table within the Portfolio of Investments for open written options on foreign currency contracts for Strategic Income Opportunities at March 31, 2026.

During the year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had purchased forward premium swaptions with average notional values of $620,876,922 and $247,482,722, 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 March 31, 2026.

During the year ended March 31, 2026***,*** Intermediate Bond and Strategic Income Opportunities had written forward premium swaptions with average notional values of $3,973,248,103 and $1,776,921,906, 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 March 31, 2026*.***

During the year ended March 31, 2026, Strategic Income Opportunities had purchased credit default swaptions to manage its credit exposure with an average notional value of $41,893,000. There were no open purchased credit default swaptions for Strategic Income Opportunities at March 31, 2026.

During the year ended March 31, 2026, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had written credit default swaptions to generate income with an average notional value of $175,038,280, $10,695,854 and $145,192,739, 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 March 31, 2026.

During the year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had written options on exchange-traded funds to generate income with an average notional value of $16,532,100 and $36,411,440, respectively. Please refer to the tables within the Portfolio

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

of Investments for open written options on exchange-traded funds for Intermediate Bond and Strategic Income Opportunities at March 31, 2026.

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 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.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 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 March 31, 2026, 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 year ended March 31, 2026, 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 year ended March 31, 2026, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had average notional values on credit default swaps to buy protection of $457,077,000, $19,342,000 and $144,322,855, respectively.

Please refer to the tables within the Portfolio of Investments for open credit default swaps to buy protection for Intermediate Bond and Strategic Income Opportunities at March 31, 2026. There were no open credit default swaps

to buy protection for Short Duration Bond at March 31, 2026.

For the year ended March 31, 2026, 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 year ended March 31, 2026, 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, $709,372,000, $5,950,000 and $182,637,366, 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 March 31, 2026. There were no open credit default swaps to sell protection for High Yield Bond and Short Duration Bond at March 31, 2026.

***Inflation-linked Swap Contracts.*** Certain Funds may enter into inflation-linked swaps. In an inflation-linked swap, one party pays a fixed interest rate on a notional amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional amount.

For the year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had entered into inflation-linked swaps in which it pays a floating interest rate and receives a fixed rate linked to an inflation index ("long inflation-linked swap"). Average notional amount on long inflation linked-bonds were $74,522,000 and $26,814,000, respectively.

For the year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had entered into inflation-linked swaps in which it pays a fixed interest rate and receives a floating rate linked to an inflation index ("short inflation-linked swap"). Average notional amount on short inflation linked-bonds were $74,522,000 and $26,814,000, respectively.

Intermediate Bond and Strategic Income Opportunities used inflation-linked swaps as part of their inflation strategy. Please refer to the tables within the Portfolio of Investments for Intermediate Bond and Strategic Income Opportunities for open centrally cleared inflation-linked swaps at March 31, 2026.

***Interest Rate Swap Agreements.*** An interest rate swap involves the agreement between counterparties to

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 year ended March 31, 2026, Intermediate Bond, Short Duration 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, Short Duration Bond and Strategic Income Opportunities was $548,838,150, $27,000,000 and $135,723,339, respectively.

For the year ended March 31, 2026, 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 $440,178,455 and $269,519,406, respectively.

Please refer to the tables within the Portfolio of Investments for Intermediate Bond, Short Duration Bond and Strategic Income Opportunities for open centrally cleared interest rate swaps at March 31, 2026.

At March 31, 2026, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had pledged $81,153,600, $196,200 and $26,658,246, 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 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 year ended March 31, 2026.

***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 year ended March 31, 2026, Strategic Income Opportunities had an average notional amount of $27,365,500 and $74,753,748 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 March 31, 2026.

***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 year ended March 31, 2026, Intermediate Bond and Strategic Income Opportunities had an average notional amount of $209,500,000 and $88,400,000 on receiver total return swaps. Please refer to the table within the Portfolio

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

of Investments for Intermediate Bond and Strategic Income Opportunities for open receiver total return swaps at March 31, 2026.

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 year ended March 31, 2026, 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 | $— | $1289057 |
| High Yield Bond | 432213347 | 569615248 |
| Intermediate Bond | 3295726403 | 2871446613 |
| Short Duration Bond | 273707473 | 418774936 |
| Short Duration High Income | 82940739 | 217321338 |
| Strategic Income Opportunities | 1325342689 | 1372427932 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| GNMA Income | $6036672339 | $6129051774 |
| Intermediate Bond | 16309252436 | 16104515059 |
| Short Duration Bond | 484846216 | 566369028 |
| Strategic Income Opportunities | 5019082471 | 5151316643 |

---

**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 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,<br>0.43% on the next $500 million and<br>0.41% on assets thereafter  |
| High Yield Bond | 0.61% on the first $500 million,<br>0.55% on the next $4.5 billion and<br>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 is contractually obligated to waive the management fee it receives for advising Intermediate Bond in an amount equal to any advisory fee that Voya receives as a result of any investment by Intermediate Bond into an affiliated exchange traded fund. Any fees waived or reimbursed are not eligible for recoupment. Termination or modification of this obligation 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 5 — DISTRIBUTION AND SERVICE FEES (continued)**

(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 year ended March 31, 2026, the Distributor retained the following amounts in sales charges:

---

| | | |
|:---|:---|:---|
|  | **Class A** | **Class C** |
| **Initial Sales Charges:** | | |
| GNMA Income | $1514 | $— |
| High Yield Bond | 3020 |  |
| Intermediate Bond | 4666 |  |
| Short Duration Bond | 46 |  |
| Short Duration High Income | 2255 |  |
| Strategic Income Opportunities | 3411 |  |
| **Contingent Deferred Sales Charges:** |  |  |
| GNMA Income | $4 | $687 |
| High Yield Bond |  | 42 |
| Intermediate Bond | 1437 | 2252 |
| Short Duration Bond |  | 5 |
| Short Duration High Income |  | 2174 |
| Strategic Income Opportunities |  | 4310 |

---

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

At March 31, 2026, 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 Company** | **Fund** | **Percentage** |
| Voya Index Solution 2030 Portfolio | Short Duration Bond | 5.21% |
| Voya Index Solution Income Portfolio | Short Duration Bond | 29.20 |
| Voya In-Retirement Fund | Short Duration Bond | 5.27 |
| Voya Institutional Trust Company | GNMA Income | 15.47 |
|  | Short Duration High Income | 27.22 |

---

---

| | | |
|:---|:---|:---|
| Voya Retirement Insurance and Annuity Company | Intermediate Bond | 6.74 |
|  | Short Duration Bond | 6.72 |
| Voya Retirement Moderate Portfolio | Short Duration Bond | 7.34 |
| Voya Solution 2035 Portfolio | High Yield Bond | 5.54 |
| Voya Solution Income Portfolio | High Yield Bond | 8.95 |
|  | Short Duration Bond | 10.22 |

---

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 year ended March 31, 2026, the per account fees for affiliated recordkeeping services paid by each Fund were as follows:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| GNMA Income | $248069 |
| High Yield Bond | 5723 |
| Intermediate Bond | 253091 |
| Short Duration Bond | 149 |
| Short Duration High Income | 26344 |
| Strategic Income Opportunities | 21299 |

---

**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:

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <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 | 0.68% | 1.43% | 0.36% | 0.93% | 0.36% | 0.43% |
| 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 | 0.87% | 1.62% | 0.62% | 1.12% | 0.55% | 0.62% |

---

Prior to January 1, 2026, the expense limits for Intermediate Bond for Class A, Class C, Class I, Class R, Class R6 and Class W were 0.75%, 1.50%, 0.50%, 1.00%, 0.50% and 0.50%, respectively. Effective January 1, 2026, any fees waived pursuant to the Expense Limit Agreement shall not be eligible for recoupment.

Prior to January 1, 2026, the expense limits for Strategic Income Opportunities for Class A, Class C, Class I, Class R, Class R6 and Class W were 1.15%, 1.90%, 0.72%, 1.40%, 0.60% and 0.90%, respectively. Effective January 1, 2026, any fees waived pursuant to the Expense Limit Agreement shall not be eligible for recoupment.

With the exception of Intermediate Bond, Strategic Income Opportunities and the non-recoupable management fee waiver for High Yield Bond, the Investment Adviser may until August 1, 2026 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 March 31, 2026 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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31,** | **March 31,** | **March 31,** | |
|  | **2027** | **2028** | **2029** | <br>**Total** |
| Short Duration Bond | $28738 | $— | $30247 | $58985 |
| Short Duration High Income | 155312 |  | 37483 | 192795 |

---

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 March 31, 2026, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31,** | **March 31,** | **March 31,** | |
|  | **2027** | **2028** | **2029** |<br>**Total** |
| **GNMA Income** |  |  |  |  |
| Class A | $54219 | $127825 | $413130 | $595174 |
| Class C | 1885 | 3690 | 10193 | 15768 |
| Class I | 399458 | 487133 | 600664 | 1487255 |
| Class W | 8618 | 20272 | 62751 | 91641 |
| **Short Duration Bond** |  |  |  |  |
| Class A | $— | $— | $1584 | $1584 |
| Class C |  |  | 56 | 56 |
| Class I | 7806 | 4777 |  | 12583 |
| Class R |  |  | 32 | 32 |
| Class R6 | 661 |  | 634 | 1295 |
| Class W |  |  | 3887 | 3887 |
| **Short Duration High Income** |  |  |  |  |
| Class A | $1003 | $— | $39529 | $40532 |
| Class C | 3 |  | 4588 | 4591 |
| Class I | 7922 | 7262 | 98043 | 113227 |
| Class W |  |  | 2002 | 2002 |

---

The Expense Limitation Agreement is contractual through August 1, 2026. 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 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 year ended March 31, 2026.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 8 — LINE OF CREDIT (continued)**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Fund** | <br>**Days**<br>**Utilized** |<br>**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 | 5 | 2807600 | 4.96 |
| Strategic Income Opportunities | 4 | 2304250 | 4.87 |

---

**NOTE 9 — CAPITAL SHARES**

Transactions in capital shares and dollars were as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <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** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **GNMA Income** | **GNMA Income** |  |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 6615769 |  | 1186576 | (8615749) |  | (813404) | 49333271 |  | 8909488 | (64487195) |  | (6244436) |
| 3/31/2025 | 4401865 |  | 1186137 | (10546834) |  | (4958832) | 32414045 |  | 8722824 | (77565382) |  | (36428513) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 80871 |  | 28665 | (297825) |  | (188289) | 595304 |  | 214056 | (2224876) |  | (1415516) |
| 3/31/2025 | 249247 |  | 29865 | (725461) |  | (446349) | 1847411 |  | 218264 | (5303923) |  | (3238248) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 35922816 |  | 3333879 | (43503314) |  | (4246619) | 269583148 |  | 25070313 | (326544678) |  | (31891217) |
| 3/31/2025 | 42102160 |  | 3318805 | (62613807) |  | (17192842) | 310866507 |  | 24444801 | (459711932) |  | (124400624) |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 485652 |  | 79125 | (1415619) |  | (850842) | 3609239 |  | 594367 | (10639535) |  | (6435929) |
| 3/31/2025 | 578790 |  | 117929 | (2182547) |  | (1485828) | 4251850 |  | 868497 | (16245938) |  | (11125591) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 871202 |  | 232073 | (1613760) |  | (510485) | 6528707 |  | 1748780 | (12112901) |  | (3835414) |
| 3/31/2025 | 1070973 |  | 230341 | (1738626) |  | (437312) | 7880009 |  | 1700102 | (12817160) |  | (3237049) |
| **High Yield Bond** | **High Yield Bond** |  |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 177661 |  | 238258 | (840177) |  | (424258) | 1241828 |  | 1665739 | (5876714) |  | (2969147) |
| 3/31/2025 | 1003458 |  | 278038 | (1629865) |  | (348369) | 6893745 |  | 1925866 | (11219843) |  | (2400232) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 12335 |  | 8566 | (79584) |  | (58683) | 86503 |  | 59804 | (551553) |  | (405246) |
| 3/31/2025 | 9990 |  | 33244 | (696564) |  | (653330) | 69500 |  | 229731 | (4859462) |  | (4560231) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 3890393 |  | 834088 | (12174198) |  | (7449717) | 27143893 |  | 5812509 | (84803627) |  | (51847225) |
| 3/31/2025 | 13880494 |  | 1159596 | (24674456) |  | (9634366) | 95593862 |  | 8014872 | (169130118) |  | (65521384) |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 3171 |  | 2143 | (24735) |  | (19421) | 22173 |  | 14972 | (174117) |  | (136972) |
| 3/31/2025 | 7421 |  | 2855 | (6229) |  | 4047 | 51098 |  | 19785 | (43321) |  | 27562 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 2799599 |  | 975870 | (16272081) |  | (12496612) | 19489003 |  | 6813156 | (113916929) |  | (87614770) |
| 3/31/2025 | 2682565 |  | 1731965 | (10089734) |  | (5675204) | 18545920 |  | 11989942 | (70082687) |  | (39546825) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 676728 |  | 309233 | (1521041) |  | (535080) | 4742590 |  | 2165266 | (10589647) |  | (3681791) |
| 3/31/2025 | 341120 |  | 386813 | (1624681) |  | (896748) | 2366033 |  | 2683017 | (11262964) |  | (6213914) |
| **Intermediate Bond** | **Intermediate Bond** |  |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 3732763 |  | 646917 | (7772525) |  | (3392845) | 32889874 |  | 5700760 | (68407397) |  | (29816763) |
| 3/31/2025 | 7202038 |  | 794796 | (12186789) |  | (4189955) | 62496274 |  | 6925680 | (106090493) |  | (36668539) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 120795 |  | 19490 | (250770) |  | (110485) | 1068217 |  | 171538 | (2206639) |  | (966884) |

---

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (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** | <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** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **Intermediate Bond (continued)** | **Intermediate Bond (continued)** | **Intermediate Bond (continued)** | **Intermediate Bond (continued)** | **Intermediate Bond (continued)** |  |  |  |  |  |  |  |  |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2025 | 139927 |  | 22235 | (316293) |  | (154131) | 1231412 |  | 193420 | (2742926) |  | (1318094) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 294731379 |  | 28789261 | (155028592) |  | 168492048 | 2581968371 |  | 253746998 | (1362039643) |  | 1473675726 |
| 3/31/2025 | 207889446 |  | 27055266 | (153860582) |  | 81084130 | 1823006164 |  | 235880685 | (1335308019) |  | 723578830 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 1615174 |  | 457923 | (2582604) |  | (509507) | 14236500 |  | 4041561 | (22754520) |  | (4476459) |
| 3/31/2025 | 1896717 |  | 490967 | (3658571) |  | (1270887) | 16535380 |  | 4284207 | (31789885) |  | (10970298) |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 86277217 |  | 14806483 | (72130327) |  | 28953373 | 758222915 |  | 130616776 | (634823506) |  | 254016185 |
| 3/31/2025 | 93241404 |  | 13435325 | (73773535) |  | 32903194 | 815536721 |  | 117249514 | (643770861) |  | 289015374 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 2212473 |  | 282002 | (3117418) |  | (622943) | 19408406 |  | 2483433 | (27291666) |  | (5399827) |
| 3/31/2025 | 2067083 |  | 363754 | (4008345) |  | (1577508) | 17957176 |  | 3164604 | (34696806) |  | (13575026) |
| **Short Duration Bond** | **Short Duration Bond** |  |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 229138 |  | 14315 | (419482) |  | (176029) | 2157318 |  | 134490 | (3938953) |  | (1647145) |
| 3/31/2025 | 147467 |  | 16927 | (196076) |  | (31682) | 1382486 |  | 157824 | (1834298) |  | (293988) |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 3406 |  | 363 | (3030) |  | 739 | 32064 |  | 3416 | (28567) |  | 6913 |
| 3/31/2025 | 1195 |  | 328 | (624) |  | 899 | 11165 |  | 3067 | (5821) |  | 8411 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 2612957 |  | 245380 | (1175246) |  | 1683091 | 24507325 |  | 2304563 | (11035294) |  | 15776594 |
| 3/31/2025 | 1793760 |  | 183771 | (1701697) |  | 275834 | 16685054 |  | 1714146 | (15795448) |  | 2603752 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 4138 |  | 227 | (6571) |  | (2206) | 39010 |  | 2142 | (62137) |  | (20985) |
| 3/31/2025 | 1326 |  | 162 | (534) |  | 954 | 12414 |  | 1522 | (4948) |  | 8988 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 11544956 |  | 2115324 | (38661533) |  | (25001253) | 108283464 |  | 19878784 | (364351645) |  | (236189397) |
| 3/31/2025 | 27730193 |  | 2705993 | (26535013) |  | 3901173 | 259597908 |  | 25255219 | (247390485) |  | 37462642 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 95365 |  | 34539 | (201235) |  | (71331) | 898702 |  | 325484 | (1894776) |  | (670590) |
| 3/31/2025 | 63887 |  | 43925 | (403005) |  | (295193) | 597630 |  | 410838 | (3771186) |  | (2762718) |
| **Short Duration High Income** | **Short Duration High Income** |  |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 414202 | 8676848 | 410161 | (3094026) |  | 6407185 | 3979030 | 83567988 | 3924500 | (29629287) |  | 61842231 |
| 3/31/2025 | 1003354 |  | 139109 | (409582) |  | 732881 | 10241820 |  | 1415888 | (4193626) |  | 7464082 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 284213 | 439467 | 45714 | (370076) |  | 399318 | 2762951 | 4285593 | 443435 | (3584444) |  | 3907535 |
| 3/31/2025 | 492568 |  | 23102 | (37324) |  | 478346 | 5051552 |  | 238344 | (385959) |  | 4903937 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 5060921 | 4025911 | 1131890 | (22639665) |  | (12420943) | 48641982 | 38748485 | 10859548 | (217216077) |  | (118966062) |
| 3/31/2025 | 21511636 |  | 1327249 | (8620173) |  | 14218712 | 219192829 |  | 13510585 | (87809900) |  | 144893514 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 |  |  | 13218 | (1010197) |  | (996979) |  |  | 127294 | (9749904) |  | (9622610) |
| 3/31/2025 | 6719 |  | 139119 | (1805761) |  | (1659923) | 67960 |  | 1413069 | (18471886) |  | (16990857) |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 8/08/2025<sup>(1)</sup>- |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 3592 | 513328 | 20905 | (98816) |  | 439009 | 34288 | 4940685 | 199756 | (944364) |  | 4230365 |
| **Strategic Income Opportunities** | **Strategic Income Opportunities** | **Strategic Income Opportunities** |  |  |  |  |  |  |  |  |  |  |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 1985661 |  | 327309 | (4043264) |  | (1730294) | 18589802 |  | 3068474 | (37776338) |  | (16118062) |
| 3/31/2025 | 3486937 |  | 345236 | (2609551) |  | 1222622 | 32170409 |  | 3187034 | (24038115) |  | 11319328 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 558232 |  | 120477 | (952839) |  | (274130) | 5150005 |  | 1112820 | (8799771) |  | (2536946) |
| 3/31/2025 | 764491 |  | 144032 | (1277814) |  | (369291) | 6952342 |  | 1309580 | (11599529) |  | (3337607) |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 49575833 |  | 7950086 | (62271461) |  | (4745542) | 465220392 |  | 74589331 | (583964856) |  | (44155133) |
| 3/31/2025 | 52433230 |  | 8624023 | (44088484) |  | 16968769 | 484604446 |  | 79695725 | (407432318) |  | 156867853 |
| **Class R** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 138567 |  | 71585 | (208627) |  | 1525 | 1288004 |  | 665739 | (1937950) |  | 15793 |
| 3/31/2025 | 149408 |  | 85702 | (407466) |  | (172356) | 1369513 |  | 784704 | (3728433) |  | (1574216) |

---

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (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** | <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** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** | **Strategic Income Opportunities (continued)** |  |  |  |  |  |  |  |  |  |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 602495 |  | 1639114 | (5988681) |  | (3747072) | 5615048 |  | 15331820 | (56263301) |  | (35316433) |
| 3/31/2025 | 5826925 |  | 1749842 | (463819) |  | 7112948 | 53278904 |  | 16127571 | (4275219) |  | 65131256 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 150264 |  | 42244 | (375679) |  | (183171) | 1404763 |  | 395042 | (3505103) |  | (1705298) |
| 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 March 31, 2026, Strategic Income Opportunities had the following unfunded loan commitments:

---

| | |
|:---|:---|
| <br>**Loan** | **Unfunded**<br>**Loan**<br>**Commitment** |
| Chicago US Midco III LP Delayed Draw Term Loan | $38793 |
| Cp Iris Holdco I, Inc. Delayed Draw Commitment | 13857 |
| First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc. Delayed Draw Term Loan | 115209 |
| Hanger Inc. Delayed Draw Term Loan | 15172 |
| Pye Barker Fire & Safety LLC Initial Delayed Draw Term Loan | 46800 |
| Raven Acquisition Holdings, LLC 2024 Delayed Draw Term Loan Commitment | 46333 |
| Salas O'Brien Inc. DDTL | 30857 |
| US Fertility Enterprises LLC Delayed Draw Term Loan | 30921 |
|  | $337942 |

---

**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.

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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

which are subject to offset under the Agreement as of March 31, 2026:

**Intermediate Bond**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Barclays Bank PLC | $25543744 | $(25543744) | $— |
| Barclays Capital Inc. | 18988753 | (18988753) |  |
| BMO Capital Markets Corp | 54567480 | (54567480) |  |
| BNP Paribas | 34988477 | (34988477) |  |
| BNP Paribas Prime Brokerage Int'l Ltd. | 57471659 | (57471659) |  |
| BofA Securities Inc | 24592929 | (24592929) |  |
| Canadian Imperial Bank Of Commerce | 2561619 | (2561619) |  |
| Citigroup Global Markets Inc. | 188692308 | (188692308) |  |
| Daiwa Capital Markets America Inc. | 4422709 | (4422709) |  |
| Deutsche Bank Securities Inc. | 15515626 | (15515626) |  |
| Goldman, Sachs & Co. LLC | 66864850 | (66864850) |  |
| HSBC Securities (USA) Inc. | 4142990 | (4142990) |  |
| J.P. Morgan Securities LLC | 78887332 | (78887332) |  |
| Jefferies LLC | 318352 | (318352) |  |
| Mitsubishi UFJ | 11687761 | (11687761) |  |
| Mizuho Securities USA LLC. | 1682985 | (1682985) |  |
| Morgan Stanley & Co. LLC | 36367989 | (36367989) |  |
| National Bank Financial Inc. | 1897258 | (1897258) |  |
| NatWest Markets Securities Inc. | 112434 | (112434) |  |
| Nomura Securities International, Inc. | 1699937 | (1699937) |  |
| RBC Capital Markets, LLC | 18350413 | (18350413) |  |
| Scotia Capital (USA) INC | 14386966 | (14386966) |  |
| State Street Bank and Trust Company | 3700328 | (3700328) |  |
| TD Securities (USA) Inc. | 16471993 | (16471993) |  |
| The Bank of Nova Scotia | 31360734 | (31360734) |  |
| Truist Securities INC | 6565738 | (6565738) |  |
| UBS AG | 634953 | (634953) |  |
| US Bancorp Investments | 2189353 | (2189353) |  |
| Wells Fargo Bank NA | 7570866 | (7570866) |  |
| Wells Fargo Securities LLC | 28554191 | (28554191) |  |
| Total | $760792727 | $(760792727) | $— |

---

<sup>(1)</sup> Cash collateral with a fair value of $780,062,026 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** |
| BNP Paribas Prime Brokerage Int'l Ltd. | $34632 | $(34632) | $— |
| Citigroup Global Markets Inc. | 593783 | (593783) |  |
| Goldman, Sachs & Co. LLC | 1350697 | (1350697) |  |
| HSBC Securities (USA) Inc. | 42627 | (42627) |  |
| J.P. Morgan Securities LLC | 776857 | (776857) |  |
| Morgan Stanley & Co. LLC | 129676 | (129676) |  |
| NatWest Markets Securities Inc. | 1511139 | (1511139) |  |
| RBC Capital Markets, LLC | 36019 | (36019) |  |
| Truist Securities INC | 187499 | (187499) |  |
| Wells Fargo Bank NA | 290433 | (290433) |  |
| Total | $4953362 | $(4953362) | $— |

---

<sup>(1)</sup> Cash collateral with a fair value of $5,056,561 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** |
| BofA Securities Inc | $2028760 | $(2028760) | $— |
| Citigroup Global Markets Inc. | 112678 | (112678) |  |
| Goldman, Sachs & Co. LLC | 3823766 | (3823766) |  |
| J.P. Morgan Securities LLC | 199274 | (199274) |  |
| Jefferies LLC | 1766372 | (1766372) |  |
| Total | $7930850 | $(7930850) | $— |

---

<sup>(1)</sup> Cash collateral with a fair value of $8,154,777 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. | $3326650 | $(3326650) | $— |
| BNP Paribas | 1712667 | (1712667) |  |
| BNP Paribas Prime Brokerage Int'l Ltd. | 2100600 | (2100600) |  |
| BofA Securities Inc | 2200074 | (2200074) |  |

---

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Canadian Imperial Bank Of Commerce | $1980912 | $(1980912) | $— |
| Citigroup Global Markets Inc. | 2927139 | (2927139) |  |
| Deutsche Bank Securities Inc. | 221467 | (221467) |  |
| Goldman, Sachs & Co. LLC | 5127947 | (5127947) |  |
| J.P. Morgan Securities LLC | 5618121 | (5618121) |  |
| Morgan Stanley & Co. LLC | 3227660 | (3227660) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** | <br>**Net Amount** |
| RBC Capital Markets, LLC | $1902993 | $(1902993) | $— |
| State Street Bank and Trust Company | 242390 | (242390) |  |
| Truist Securities INC | 335929 | (335929) |  |
| Wells Fargo Bank NA | 391644 | (391644) |  |
| Wells Fargo Securities LLC | 75427 | (75427) |  |
| Total | $31391620 | $(31391620) | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Cash
 collateral with a fair value of $32,237,337 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, perpetual preferred securities, swaps, straddle loss deferrals, and wash sale deferrals. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital.

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, 2026** | **March 31, 2026** | **March 31, 2025** | **March 31, 2025** |
|  | **Ordinary**<br>**Income** | **Return of**<br>**Capital** | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** |
| GNMA Income | $43345391 | $— | $42122957 | $— |
| High Yield Bond | 16811572 | 405824 | 26557027 |  |
| Intermediate Bond | 455411532 |  | 423065466 |  |
| Short Duration Bond | 22660983 |  | 27741707 |  |
| Short Duration High Income | 15687939 |  | 16555065 | 346958 |
| Strategic Income Opportunities | 99865750 | 2849301 | 109799704 |  |

---

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, 2026, were:

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (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 | $190432 | $(81207462) | $(70703872) | Short-term | $(627915) | $(196568357) |
|  |  |  | (44219540) | Long-term |  |  |
|  |  |  | $(114923412 |  |  |  |
| High Yield Bond |  | (2696762) | (3339359) | Short-term | (24498) | (47591782) |
|  |  |  | (41531163) | Long-term |  |  |
|  |  |  | $(44870522 |  |  |  |
| Intermediate Bond | 3988457 | (213634232) | (293249702) | Short-term | (5081740) | (1410571160) |
|  |  |  | (902593943) | Long-term |  |  |
|  |  |  | $(1195843645 |  |  |  |
| Short Duration Bond | 368771 | 977240 | (4715658) | Short-term | (906) | (27756852) |
|  |  |  | (24386299) | Long-term |  |  |
|  |  |  | $(29101957 |  |  |  |
| Short Duration High Income | 25230 | (3050165) | (55674140) | Short-term | (13494) | (250881085) |
|  |  |  | (192168516) | Long-term |  |  |
|  |  |  | $(247842656 |  |  |  |
| Strategic Income Opportunities |  | (38992439) | (6799681) | Short-term | (597914) | (256812568) |
|  |  |  | (210422534) | Long-term |  |  |
|  |  |  | $(217222215 |  |  |  |

---

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

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

As of March 31, 2026, 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. Military action by Russia in Ukraine, the prolonged conflict between Hamas and Israel, the Iranian conflict that commenced in February 2026, and political upheaval in Venezuela have resulted, and may continue to result, in sanctions, market disruptions, declines in regional and global stock markets, unusual volatility in global commodity markets, and disruptions to energy production or transportation, including through key shipping routes, any of which could adversely affect the

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

value of investments, including beyond direct exposure to issuers in the affected regions. The escalation or expansion of hostilities including the involvement of additional nations, could introduce further uncertainty and volatility in global energy, commodity, and financial markets. The extent and duration of these conflicts, related sanctions, and resulting market disruptions are impossible to predict but 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. Recent technological developments in, and the increasingly widespread use of, artificial intelligence, including machine learning technology and generative artificial intelligence ("AI"), may pose risks to a Fund. For instance, the economy may be significantly impacted by the advanced development and increased regulation of AI. As AI is used more widely, the profitability and growth of Fund holdings may be impacted, which could significantly impact the overall performance of a Fund. The legal and regulatory frameworks within which AI operates continue to rapidly evolve, and it is not possible to predict the full extent of current or future risks related thereto.

**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 year ended March 31, 2026, are as follows (Unaudited):

---

| | |
|:---|:---|
| Net investment income | $18241249 |
| Net realized and unrealized loss on investments | (11988787) |
| Net increase in net assets resulting from operations | $6252462 |

---

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

---

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 14 — REORGANIZATIONS (continued)**

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 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 — OTHER ACCOUNTING PRONOUNCEMENT**

The Funds have adopted the provisions of Financial Accounting Standards Board Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 enhances income tax disclosures, including providing specific categories in rate reconciliation and income taxes paid. Upon evaluation, the adoption of the new accounting standard does not materially impact the financial statement amounts or disclosures.

**NOTE 17 — SUBSEQUENT EVENTS**

Dividends: Subsequent to March 31, 2026, 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 | $0.0226 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0179 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0246 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0248 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0243 | April 30, 2026 | Daily |
| High Yield Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0295 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0252 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0314 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0281 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0318 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0309 | April 30, 2026 | Daily |
| Intermediate Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0308 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0254 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0335 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0291 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0339 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0326 | April 30, 2026 | Daily |
| Short Duration Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0317 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0260 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0338 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0299 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0342 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0337 | April 30, 2026 | Daily |
| Short Duration High Income |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0467 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0414 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0486 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0489 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0486 | April 30, 2026 | Daily |
| Strategic Income Opportunities |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A | $0.0337 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class C | $0.0275 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class I | $0.0355 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R | $0.0315 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class R6 | $0.0360 | April 30, 2026 | Daily |
| &nbsp;&nbsp;&nbsp;Class W | $0.0355 | April 30, 2026 | Daily |

---

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 17 — SUBSEQUENT EVENTS (continued)**

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> Voya GNMA Income Fund as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 64.5%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 64.5%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 64.5%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 64.5%** |
|  | **Federal Home Loan Bank Discount Notes: 1.1%** | **Federal Home Loan Bank Discount Notes: 1.1%** | **Federal Home Loan Bank Discount Notes: 1.1%** |
| 2350000 <sup>(1)</sup> | 3.630%, 04/10/2026 | $2347663 | 0.2 |
| 8000000 <sup>(1)</sup> | 3.640%, 04/30/2026 | 7976134 | 0.8 |
| 875000 <sup>(1)</sup> | 3.660%, 05/08/2026 | 871675 | 0.1 |
|  |  | **11195472** | **1.1** |
|  | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(2)</sup>** | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(2)</sup>** | **Federal Home Loan Mortgage Corporation: 1.0%<sup>(2)</sup>** |
| 533423 | 3.500%, 07/01/2047 | 499147 | 0.1 |
| 1172292 | 3.500%, 12/01/2047 | 1095036 | 0.1 |
| 2227171 | 3.500%, 03/01/2048 | 2087932 | 0.2 |
| 2486946 | 3.500%, 11/01/2048 | 2333449 | 0.2 |
| 742187 | 4.000%, 07/01/2047 | 712801 | 0.1 |
| 288729 | 4.500%, 08/01/2047 | 284634 | 0 |
| 291885 | 5.000%, 11/01/2035 | 294810 | 0 |
| 14610 | 5.000%, 12/01/2035 | 14773 | 0 |
| 6419 | 5.000%, 01/01/2038 | 6499 | 0 |
| 6854 | 5.000%, 03/01/2038 | 6939 | 0 |
| 28101 | 5.000%, 03/01/2038 | 28450 | 0 |
| 86835 | 5.000%, 02/01/2039 | 86361 | 0 |
| 315903 | 5.000%, 07/01/2039 | 319834 | 0.1 |
| 92170 | 5.000%, 01/01/2040 | 93317 | 0 |
| 327076 | 5.000%, 04/01/2040 | 329385 | 0.1 |
| 1032328 | 5.000%, 10/01/2040 | 1045184 | 0.1 |
| 135323 | 5.000%, 05/01/2041 | 136468 | 0 |
| 110090 | 5.290%, 10/01/2037 | 112398 | 0 |
| 2945 | 5.410%, 08/01/2037 | 2943 | 0 |
| 28922 | 5.440%, 01/01/2037 | 29746 | 0 |
| 24176 | 5.440%, 09/01/2037 | 24729 | 0 |
| 22610 | 5.440%, 02/01/2038 | 23209 | 0 |
| 82652 | 5.450%, 12/01/2037 | 84224 | 0 |
| 104513 | 5.450%, 12/01/2037 | 106228 | 0 |
| 27232 | 5.460%, 08/01/2037 | 27924 | 0 |
| 30390 | 5.460%, 01/01/2038 | 30954 | 0 |
| 43511 | 5.500%, 08/01/2037 | 44567 | 0 |
| 72114 | 5.500%, 11/01/2037 | 74064 | 0 |
| 28473 | 5.620%, 12/01/2036 | 29316 | 0 |
| 50568 | 5.620%, 08/01/2037 | 52030 | 0 |
| 59103 | 5.625%, 12/01/2036 | 60824 | 0 |
| 49724 | 5.625%, 01/01/2037 | 50242 | 0 |
| 76014 | 5.625%, 03/01/2037 | 78280 | 0 |
| 72445 | 5.625%, 06/01/2037 | 74366 | 0 |
| 33939 | 5.625%, 02/01/2038 | 34950 | 0 |
| 233140 | 5.750%, 09/01/2037 | 240618 | 0 |
| 46886 | 5.750%, 10/01/2037 | 48394 | 0 |
| 75758 | 6.090%, 12/01/2037 | 78367 | 0 |
| 1642 | 7.500%, 01/01/2030 | 1684 | 0 |
|  |  | **10685076** | **1.0** |
|  | **Federal National Mortgage Association: 0.9%<sup>(2)</sup>** | **Federal National Mortgage Association: 0.9%<sup>(2)</sup>** | **Federal National Mortgage Association: 0.9%<sup>(2)</sup>** |
| 4000000 <sup>(3)</sup> | 3.000%, 05/01/2056 | 3510530 | 0.4 |
| 54740 | 3.125%, 11/01/2041 | 51776 | 0 |
| 21968 | 3.250%, 04/01/2041 | 21763 | 0 |
| 79591 | 3.475%, 10/01/2041 | 76731 | 0 |
| 59442 | 3.750%, 09/01/2041 | 57975 | 0 |
| 53753 | 3.750%, 10/01/2041 | 52177 | 0 |
| 3674494 | 4.000%, 07/01/2056 | 3481362 | 0.4 |
| 505194 | 4.500%, 09/01/2047 | 498734 | 0.1 |
| 72875 | 5.290%, 09/01/2037 | 72816 | 0 |
| 205089 | 5.290%, 11/01/2037 | 205683 | 0 |
| 64272 | 5.290%, 12/01/2037 | 63705 | 0 |
| 99545 | 5.290%, 04/01/2038 | 99499 | 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)** |
| 8284 | 5.350%, 04/01/2029 | $| 8277 | 0 |
| 53360 | 5.390%, 05/01/2038 |  | 53369 | 0 |
| 103116 | 5.440%, 08/01/2047 |  | 103957 | 0 |
| 150222 | 5.440%, 08/01/2047 |  | 151551 | 0 |
| 158256 | 5.440%, 08/01/2047 |  | 159675 | 0 |
| 160773 | 5.440%, 09/01/2047 |  | 162220 | 0 |
| 250911 | 5.440%, 10/01/2047 |  | 253494 | 0 |
| 50370 | 5.620%, 12/01/2036 |  | 50573 | 0 |
| 93604 | 5.890%, 08/01/2047 |  | 94752 | 0 |
| 99498 | 5.890%, 10/01/2047 |  | 100719 | 0 |
| 894 | 6.600%, 07/01/2027 |  | 892 | 0 |
|  |  |  | **9332230** | **0.9** |
|  | **Government National Mortgage Association: 58.4%** | **Government National Mortgage Association: 58.4%** | **Government National Mortgage Association: 58.4%** | **Government National Mortgage Association: 58.4%** |
| 3954472 | 2.000%, 08/20/2050 |  | 3271433 | 0.3 |
| 18487321 | 2.000%, 12/20/2050 |  | 15294084 | 1.4 |
| 15418755 | 2.000%, 01/20/2051 |  | 12755539 | 1.2 |
| 12991437 | 2.000%, 02/20/2051 |  | 10747482 | 1 |
| 5985302 | 2.000%, 06/20/2051 |  | 4951486 | 0.5 |
| 10575213 | 2.000%, 08/20/2051 |  | 8748601 | 0.8 |
| 3015131 | 2.000%, 10/20/2051 |  | 2494340 | 0.2 |
| 2105289 | 2.000%, 11/20/2051 |  | 1741651 | 0.2 |
| 39115895 | 2.000%, 03/20/2052 |  | 32359573 | 3 |
| 7921428 | 2.500%, 12/20/2050 |  | 6843993 | 0.7 |
| 18822660 | 2.500%, 03/20/2051 |  | 16215212 | 1.5 |
| 14207098 | 2.500%, 04/20/2051 |  | 12240425 | 1.2 |
| 14117058 | 2.500%, 05/20/2051 |  | 12162325 | 1.2 |
| 3246705 | 2.500%, 08/20/2051 |  | 2796949 | 0.3 |
| 21588606 | 2.500%, 10/20/2051 |  | 18599018 | 1.8 |
| 3258466 | 2.500%, 12/20/2051 |  | 2807220 | 0.3 |
| 17000000 <sup>(3)</sup> | 2.500%, 05/15/2056 |  | 14618672 | 1.4 |
| 109985 | 3.000%, 12/15/2041 |  | 102241 | 0 |
| 73671 | 3.000%, 01/15/2042 |  | 66594 | 0 |
| 146232 | 3.000%, 01/15/2042 |  | 135792 | 0 |
| 146702 | 3.000%, 01/15/2042 |  | 136134 | 0 |
| 359666 | 3.000%, 02/15/2042 |  | 330198 | 0 |
| 120802 | 3.000%, 03/15/2042 |  | 110993 | 0 |
| 119655 | 3.000%, 04/15/2042 |  | 108261 | 0 |
| 49257 | 3.000%, 05/15/2042 |  | 45678 | 0 |
| 39104 | 3.000%, 06/15/2042 |  | 35654 | 0 |
| 12923608 | 3.000%, 04/20/2045 |  | 11749160 | 1.1 |
| 227796 | 3.000%, 11/20/2045 |  | 203641 | 0 |
| 53298 | 3.000%, 12/20/2045 |  | 47778 | 0 |
| 66711 | 3.000%, 12/20/2045 |  | 59862 | 0 |
| 83279 | 3.000%, 12/20/2045 |  | 74602 | 0 |
| 41929 | 3.000%, 01/20/2046 |  | 37631 | 0 |
| 1559068 | 3.000%, 02/20/2050 |  | 1371512 | 0.1 |
| 2205832 | 3.000%, 10/20/2051 |  | 1973049 | 0.2 |
| 19883849 | 3.000%, 10/20/2051 |  | 17486205 | 1.6 |
| 1202580 | 3.000%, 01/20/2052 |  | 1075135 | 0.1 |
| 6719683 | 3.000%, 03/20/2052 |  | 5965362 | 0.6 |
| 3128529 | 3.000%, 04/20/2052 |  | 2796978 | 0.3 |
| 30000000 <sup>(3)</sup> | 3.000%, 04/20/2056 |  | 26787180 | 2.5 |
| 43146 | 3.250%, 03/15/2041 |  | 40076 | 0 |
| 213891 | 3.250%, 04/15/2041 |  | 199060 | 0 |
| 63471 | 3.250%, 05/15/2041 |  | 59126 | 0 |
| 269570 | 3.250%, 06/15/2041 |  | 250883 | 0 |
| 51417 | 3.250%, 07/15/2041 |  | 47666 | 0 |
| 309322 | 3.250%, 07/15/2041 |  | 287331 | 0 |
| 524046 | 3.250%, 08/15/2041 |  | 486485 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 162199 | 3.250%, 09/15/2041 | $151079 | 0.0 |
| 218304 | 3.250%, 09/15/2041 | 203332 | 0.0 |
| 35934 | 3.250%, 11/15/2041 | 33312 | 0.0 |
| 121314 | 3.250%, 11/15/2041 | 112992 | 0.0 |
| 56740 | 3.250%, 12/15/2041 | 52847 | 0.0 |
| 33625 | 3.250%, 04/15/2042 | 31171 | 0.0 |
| 23231 | 3.250%, 06/15/2042 | 21680 | 0.0 |
| 69032 | 3.250%, 06/15/2042 | 63994 | 0.0 |
| 669328 | 3.500%, 04/20/2043 | 631848 | 0.1 |
| 770739 | 3.500%, 06/20/2045 | 711169 | 0.1 |
| 2887415 | 3.500%, 03/20/2047 | 2680399 | 0.3 |
| 376854 | 3.500%, 07/20/2047 | 354232 | 0.0 |
| 676326 | 3.500%, 07/20/2047 | 628627 | 0.1 |
| 15913409 | 3.500%, 12/20/2047 | 14758406 | 1.4 |
| 5646096 | 3.500%, 01/20/2048 | 5248054 | 0.5 |
| 2127412 | 3.500%, 02/20/2048 | 1983355 | 0.2 |
| 4305113 | 3.500%, 02/20/2048 | 3959031 | 0.4 |
| 3392619 | 3.500%, 03/20/2052 | 3137508 | 0.3 |
| 41679 | 3.650%, 12/15/2040 | 39585 | 0.0 |
| 10030 | 3.750%, 09/15/2041 | 9908 | 0.0 |
| 209905 | 3.750%, 09/15/2041 | 199533 | 0.0 |
| 59191 | 3.750%, 10/15/2041 | 56572 | 0.0 |
| 87406 | 3.750%, 10/15/2041 | 83293 | 0.0 |
| 1468090 | 3.750%, 05/20/2042 | 1367219 | 0.1 |
| 2104601 | 3.750%, 05/20/2042 | 1943131 | 0.2 |
| 75646 | 3.900%, 10/15/2041 | 72287 | 0.0 |
| 32247 | 4.000%, 05/20/2033 | 31268 | 0.0 |
| 225100 | 4.000%, 05/20/2034 | 221520 | 0.0 |
| 250376 | 4.000%, 07/20/2034 | 247323 | 0.0 |
| 261989 | 4.000%, 07/20/2034 | 257698 | 0.0 |
| 56521 | 4.000%, 08/20/2035 | 55100 | 0.0 |
| 511000 | 4.000%, 09/20/2040 | 482212 | 0.1 |
| 799240 | 4.000%, 07/20/2041 | 761887 | 0.1 |
| 3393623 | 4.000%, 08/20/2042 | 3264877 | 0.3 |
| 95784 | 4.000%, 09/15/2042 | 92031 | 0.0 |
| 521275 | 4.000%, 10/20/2043 | 492481 | 0.1 |
| 1015946 | 4.000%, 12/20/2044 | 964786 | 0.1 |
| 836924 | 4.000%, 01/20/2045 | 794793 | 0.1 |
| 231987 | 4.000%, 06/20/2045 | 222707 | 0.0 |
| 959338 | 4.000%, 07/20/2045 | 920565 | 0.1 |
| 1059796 | 4.000%, 09/20/2045 | 1016388 | 0.1 |
| 58393 | 4.000%, 12/20/2045 | 56004 | 0.0 |
| 175167 | 4.000%, 01/20/2046 | 167223 | 0.0 |
| 2094790 | 4.000%, 01/20/2046 | 1999805 | 0.2 |
| 49696 | 4.000%, 02/20/2046 | 47643 | 0.0 |
| 1209959 | 4.000%, 03/20/2046 | 1155093 | 0.1 |
| 588150 | 4.000%, 04/20/2046 | 563644 | 0.1 |
| 254928 | 4.000%, 08/20/2046 | 244213 | 0.0 |
| 962324 | 4.000%, 09/20/2047 | 902626 | 0.1 |
| 7174836 | 4.000%, 06/20/2052 | 6788131 | 0.6 |
| 9677415 | 4.000%, 01/20/2055 | 9077224 | 0.9 |
| 55904 | 4.112%, 01/20/2065 | 54978 | 0.0 |
| 4095 | 4.321%, 10/20/2067 | 4060 | 0.0 |
| 2810 | 4.371%, 04/20/2066 | 2764 | 0.0 |
| 7683 | 4.379%, 02/20/2068 | 7631 | 0.0 |
| 133784 | 4.390%, 02/20/2065 | 133088 | 0.0 |
| 2880 | 4.449%, 04/20/2065 | 2869 | 0.0 |
| 96119 | 4.450%, 07/15/2040 | 91860 | 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)** |
| 54023 | 4.450%, 09/15/2040 | $51901 | 0.0 |
| 103040 | 4.465%, 01/20/2065 | 102531 | 0.0 |
| 302821 | 4.500%, 10/15/2039 | 306733 | 0.0 |
| 211044 | 4.500%, 11/15/2039 | 209631 | 0.0 |
| 217138 | 4.500%, 11/15/2039 | 216152 | 0.0 |
| 64255 | 4.500%, 12/15/2039 | 63425 | 0.0 |
| 166637 | 4.500%, 01/15/2040 | 165162 | 0.0 |
| 20833 | 4.500%, 01/20/2040 | 20423 | 0.0 |
| 762863 | 4.500%, 02/15/2040 | 752022 | 0.1 |
| 44454 | 4.500%, 06/15/2040 | 43595 | 0.0 |
| 19481 | 4.500%, 07/20/2040 | 19097 | 0.0 |
| 61448 | 4.500%, 08/20/2040 | 60464 | 0.0 |
| 428443 | 4.500%, 09/20/2041 | 424864 | 0.1 |
| 153457 | 4.500%, 10/20/2048 | 151125 | 0.0 |
| 72288 | 4.500%, 11/20/2048 | 71167 | 0.0 |
| 2192547 | 4.500%, 12/20/2048 | 2158543 | 0.2 |
| 54466 | 4.500%, 01/20/2049 | 53656 | 0.0 |
| 3815829 | 4.500%, 02/20/2049 | 3753141 | 0.4 |
| 185243 | 4.500%, 03/20/2049 | 182257 | 0.0 |
| 30229 | 4.500%, 05/20/2049 | 29682 | 0.0 |
| 3358431 | 4.500%, 11/20/2049 | 3315253 | 0.3 |
| 4236358 | 4.500%, 12/20/2049 | 4168069 | 0.4 |
| 588498 | 4.500%, 01/20/2053 | 572640 | 0.1 |
| 20127 | 4.580%, 01/20/2034 | 19879 | 0.0 |
| 31396 | 4.580%, 03/20/2034 | 31215 | 0.0 |
| 24769 | 4.580%, 04/20/2034 | 24623 | 0.0 |
| 31956 | 4.580%, 04/20/2034 | 31765 | 0.0 |
| 29503 | 4.683%, 10/20/2064 | 29452 | 0.0 |
| 471 | 4.700%, 06/20/2061 | 464 | 0.0 |
| 2064 | 4.700%, 09/20/2062 | 2062 | 0.0 |
| 11250 | 4.700%, 09/20/2064 | 11232 | 0.0 |
| 169453 | 4.750%, 06/15/2029 | 169981 | 0.0 |
| 34517 | 4.750%, 01/15/2030 | 34630 | 0.0 |
| 37239 | 4.750%, 06/20/2033 | 37058 | 0.0 |
| 11524 | 4.750%, 07/20/2033 | 11492 | 0.0 |
| 20707 | 4.750%, 07/20/2033 | 20332 | 0.0 |
| 33558 | 4.750%, 07/20/2033 | 33400 | 0.0 |
| 18735 | 4.750%, 08/20/2033 | 18573 | 0.0 |
| 32296 | 4.750%, 08/20/2033 | 32155 | 0.0 |
| 21675 | 4.750%, 10/20/2033 | 21576 | 0.0 |
| 17514 | 4.750%, 11/20/2033 | 17433 | 0.0 |
| 15767 | 4.750%, 12/20/2033 | 15694 | 0.0 |
| 109924 | 4.750%, 09/15/2034 | 109075 | 0.0 |
| 14076 | 4.920%, 04/20/2033 | 13839 | 0.0 |
| 31606 | 4.920%, 04/20/2033 | 31498 | 0.0 |
| 6854 | 4.920%, 05/20/2033 | 6829 | 0.0 |
| 18912 | 4.920%, 05/20/2033 | 18848 | 0.0 |
| 20803 | 4.920%, 05/20/2033 | 20733 | 0.0 |
| 225015 | 5.000%, 04/20/2030 | 226535 | 0.0 |
| 103350 | 5.000%, 07/15/2033 | 103059 | 0.0 |
| 18429 | 5.000%, 03/15/2034 | 18390 | 0.0 |
| 25859 | 5.000%, 01/15/2035 | 26033 | 0.0 |
| 6020 | 5.000%, 03/15/2035 | 6094 | 0.0 |
| 30791 | 5.000%, 03/15/2035 | 30367 | 0.0 |
| 12715 | 5.000%, 04/15/2035 | 12699 | 0.0 |
| 99478 | 5.000%, 04/15/2035 | 101109 | 0.0 |
| 9119 | 5.000%, 05/15/2035 | 9276 | 0.0 |
| 24270 | 5.000%, 05/20/2035 | 24616 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 139184 | 5.000%, 11/20/2035 | $141387 | 0.0 |
| 71416 | 5.000%, 04/20/2036 | 72372 | 0.0 |
| 11717 | 5.000%, 08/20/2038 | 11786 | 0.0 |
| 140370 | 5.000%, 10/20/2038 | 140153 | 0.0 |
| 24957 | 5.000%, 11/20/2038 | 24918 | 0.0 |
| 94361 | 5.000%, 01/20/2039 | 95491 | 0.0 |
| 28805 | 5.000%, 02/15/2039 | 29259 | 0.0 |
| 88325 | 5.000%, 03/15/2039 | 90688 | 0.0 |
| 328037 | 5.000%, 11/15/2039 | 332088 | 0.0 |
| 381626 | 5.000%, 11/15/2039 | 387910 | 0.1 |
| 36352 | 5.000%, 04/15/2040 | 36889 | 0.0 |
| 520751 | 5.000%, 09/15/2040 | 525192 | 0.1 |
| 314057 | 5.000%, 07/20/2041 | 319625 | 0.0 |
| 110275000 <sup>(3)</sup> | 5.000%, 05/15/2056 | 109003132 | 10.2 |
| 6359 | 5.250%, 06/15/2028 | 6390 | 0.0 |
| 20342 | 5.250%, 06/15/2029 | 20495 | 0.0 |
| 609560 | 5.250%, 01/20/2036 | 620283 | 0.1 |
| 91788 | 5.290%, 07/20/2037 | 95567 | 0.0 |
| 59078 | 5.290%, 08/20/2037 | 61435 | 0.0 |
| 79692 | 5.290%, 09/20/2037 | 82829 | 0.0 |
| 92370 | 5.290%, 01/20/2038 | 96176 | 0.0 |
| 11235 | 5.350%, 06/20/2029 | 11230 | 0.0 |
| 50115 | 5.350%, 07/20/2033 | 50143 | 0.0 |
| 55031 | 5.390%, 08/20/2038 | 54505 | 0.0 |
| 18313 | 5.490%, 08/20/2033 | 18347 | 0.0 |
| 30355 | 5.490%, 09/20/2033 | 30410 | 0.0 |
| 32699 | 5.490%, 09/20/2033 | 32762 | 0.0 |
| 83047 | 5.490%, 09/20/2033 | 84300 | 0.0 |
| 110197 | 5.490%, 10/20/2033 | 110543 | 0.0 |
| 187536 | 5.490%, 10/20/2033 | 190749 | 0.0 |
| 95049 | 5.490%, 11/20/2033 | 95327 | 0.0 |
| 160397 | 5.490%, 11/20/2033 | 161368 | 0.0 |
| 86338 | 5.490%, 12/20/2033 | 86597 | 0.0 |
| 116719 | 5.490%, 12/20/2033 | 117183 | 0.0 |
| 118385 | 5.490%, 12/20/2033 | 118945 | 0.0 |
| 33181 | 5.490%, 01/20/2034 | 33245 | 0.0 |
| 28259 | 5.490%, 03/20/2034 | 28311 | 0.0 |
| 55143 | 5.490%, 03/20/2034 | 55249 | 0.0 |
| 28621 | 5.490%, 06/20/2034 | 28674 | 0.0 |
| 54895 | 5.500%, 09/15/2029 | 55595 | 0.0 |
| 37319 | 5.500%, 10/15/2029 | 37723 | 0.0 |
| 12623 | 5.500%, 12/20/2032 | 12956 | 0.0 |
| 40764 | 5.500%, 08/20/2033 | 41635 | 0.0 |
| 37961 | 5.500%, 11/20/2033 | 37882 | 0.0 |
| 12063 | 5.500%, 12/20/2033 | 12331 | 0.0 |
| 45953 | 5.500%, 03/20/2034 | 45830 | 0.0 |
| 63402 | 5.500%, 04/20/2034 | 63327 | 0.0 |
| 70800 | 5.500%, 04/20/2034 | 73037 | 0.0 |
| 5351 | 5.500%, 06/20/2034 | 5343 | 0.0 |
| 68684 | 5.500%, 06/20/2034 | 69065 | 0.0 |
| 52803 | 5.500%, 07/20/2034 | 54051 | 0.0 |
| 77996 | 5.500%, 01/20/2035 | 77800 | 0.0 |
| 52961 | 5.500%, 05/15/2035 | 54525 | 0.0 |
| 86611 | 5.500%, 07/15/2035 | 86881 | 0.0 |
| 60420 | 5.500%, 08/15/2035 | 60596 | 0.0 |
| 62737 | 5.500%, 09/20/2035 | 63831 | 0.0 |
| 116736 | 5.500%, 04/15/2036 | 121671 | 0.0 |
| 18593 | 5.500%, 06/20/2036 | 19197 | 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)** |
| 1565 | 5.500%, 06/20/2038 | $1576 | 0.0 |
| 9774 | 5.500%, 08/20/2038 | 9855 | 0.0 |
| 6355 | 5.500%, 09/20/2038 | 6388 | 0.0 |
| 1254 | 5.500%, 10/20/2038 | 1256 | 0.0 |
| 12803 | 5.500%, 11/20/2038 | 12891 | 0.0 |
| 631 | 5.500%, 12/20/2038 | 634 | 0.0 |
| 40203 | 5.500%, 01/15/2039 | 41393 | 0.0 |
| 4856 | 5.500%, 01/20/2039 | 4882 | 0.0 |
| 18257 | 5.500%, 06/15/2039 | 18996 | 0.0 |
| 67792 | 5.500%, 06/20/2039 | 67820 | 0.0 |
| 14591 | 5.500%, 10/20/2039 | 15066 | 0.0 |
| 74641 | 5.500%, 09/15/2040 | 76562 | 0.0 |
| 1055954 | 5.500%, 05/20/2054 | 1084798 | 0.1 |
| 1623815 | 5.500%, 05/20/2054 | 1658763 | 0.2 |
| 2002307 | 5.500%, 05/20/2054 | 2054686 | 0.2 |
| 94500000 <sup>(3)</sup> | 5.500%, 05/20/2056 | 94924658 | 8.9 |
| 28016 | 5.580%, 12/20/2033 | 28097 | 0.0 |
| 46892 | 5.580%, 01/20/2034 | 47045 | 0.0 |
| 35440 | 5.580%, 02/20/2034 | 35552 | 0.0 |
| 28660 | 5.580%, 03/20/2034 | 28742 | 0.0 |
| 44042 | 5.580%, 04/20/2034 | 44463 | 0.0 |
| 93053 | 5.580%, 04/20/2034 | 93520 | 0.0 |
| 25525 | 5.580%, 06/20/2034 | 25599 | 0.0 |
| 40976 | 5.580%, 09/20/2034 | 42126 | 0.0 |
| 76889 | 5.590%, 06/20/2033 | 77270 | 0.0 |
| 9082 | 5.590%, 07/20/2033 | 9194 | 0.0 |
| 21714 | 5.590%, 07/20/2033 | 21778 | 0.0 |
| 65672 | 5.590%, 07/20/2033 | 65887 | 0.0 |
| 79022 | 5.590%, 07/20/2033 | 79410 | 0.0 |
| 53753 | 5.590%, 08/20/2033 | 53923 | 0.0 |
| 13717 | 5.590%, 09/20/2033 | 13749 | 0.0 |
| 29375 | 5.590%, 09/20/2033 | 29463 | 0.0 |
| 111342 | 5.590%, 09/20/2033 | 112112 | 0.0 |
| 19051 | 5.590%, 11/20/2033 | 19108 | 0.0 |
| 33294 | 5.590%, 11/20/2033 | 33395 | 0.0 |
| 54083 | 5.590%, 12/20/2033 | 54607 | 0.0 |
| 64875 | 5.740%, 09/20/2037 | 66739 | 0.0 |
| 200666 | 5.740%, 09/20/2037 | 206291 | 0.0 |
| 66851 | 5.740%, 04/20/2038 | 68767 | 0.0 |
| 114427 | 5.750%, 07/15/2029 | 115850 | 0.0 |
| 52041 | 5.750%, 08/15/2029 | 52495 | 0.0 |
| 13501 | 5.750%, 11/15/2029 | 13665 | 0.0 |
| 105529 | 5.750%, 11/15/2029 | 106875 | 0.0 |
| 27131 | 5.770%, 03/20/2033 | 27584 | 0.0 |
| 56609 | 5.770%, 03/20/2033 | 56905 | 0.0 |
| 23383 | 5.770%, 04/20/2033 | 23731 | 0.0 |
| 49601 | 5.770%, 04/20/2033 | 50399 | 0.0 |
| 55860 | 5.770%, 05/20/2033 | 56168 | 0.0 |
| 62481 | 5.770%, 05/20/2033 | 62827 | 0.0 |
| 10677 | 5.770%, 07/20/2033 | 10829 | 0.0 |
| 21704 | 5.770%, 07/20/2033 | 22000 | 0.0 |
| 11471 | 5.900%, 05/20/2028 | 11667 | 0.0 |
| 763967 | 5.970%, 11/15/2031 | 763339 | 0.1 |
| 38011 | 6.000%, 05/15/2029 | 38319 | 0.0 |
| 7714 | 6.000%, 07/15/2029 | 7835 | 0.0 |
| 25299 | 6.000%, 10/20/2034 | 26282 | 0.0 |
| 69110 | 6.000%, 03/15/2037 | 72883 | 0.0 |
| 45583 | 6.000%, 08/20/2038 | 45884 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 4126 | 6.000%, 09/20/2038 | $| 4181 | 0.0 |
| 7299 | 6.000%, 10/20/2038 |  | 7408 | 0.0 |
| 57876 | 6.000%, 11/15/2038 |  | 59799 | 0.0 |
| 62279 | 6.000%, 12/15/2038 |  | 64350 | 0.0 |
| 33303 | 6.000%, 08/15/2039 |  | 33954 | 0.0 |
| 59899 | 6.000%, 08/15/2039 |  | 61890 | 0.0 |
| 67793000 <sup>(3)</sup> | 6.000%, 05/15/2056 |  | 68860842 | 6.5 |
| 5390 | 6.500%, 07/20/2029 |  | 5601 | 0.0 |
| 26798 | 6.500%, 07/20/2032 |  | 27502 | 0.0 |
| 24250 | 6.500%, 02/15/2034 |  | 24295 | 0.0 |
| 133 | 6.500%, 09/20/2034 |  | 133 | 0.0 |
| 568 | 7.500%, 08/20/2027 |  | 572 | 0.0 |
|  |  |  | **625039229** | **58.4** |
|  | **Uniform Mortgage-Backed Securities: 3.1%** | **Uniform Mortgage-Backed Securities: 3.1%** | **Uniform Mortgage-Backed Securities: 3.1%** | **Uniform Mortgage-Backed Securities: 3.1%** |
| 2316829 | 2.000%, 12/01/2051 |  | 1878036 | 0.2 |
| 2190397 | 2.500%, 12/01/2051 |  | 1857038 | 0.2 |
| 1277934 | 2.500%, 02/01/2052 |  | 1097176 | 0.1 |
| 1927578 | 3.000%, 11/01/2051 |  | 1703738 | 0.2 |
| 1196965 | 3.000%, 01/01/2052 |  | 1062107 | 0.1 |
| 1216968 | 3.500%, 02/01/2052 |  | 1130509 | 0.1 |
| 3946391 | 3.500%, 03/01/2052 |  | 3676055 | 0.4 |
| 3733869 | 4.000%, 05/01/2042 |  | 3607082 | 0.4 |
| 246283 | 4.000%, 05/01/2045 |  | 237203 | 0.0 |
| 275833 | 4.000%, 08/01/2046 |  | 265008 | 0.0 |
| 244460 | 4.250%, 08/01/2035 |  | 240895 | 0.0 |
| 3532468 | 4.500%, 07/01/2052 |  | 3421800 | 0.3 |
| 1500000 <sup>(3)</sup> | 4.500%, 04/01/2056 |  | 1447860 | 0.2 |
| 37868 | 4.750%, 11/01/2034 |  | 37851 | 0.0 |
| 165891 | 4.750%, 11/01/2034 |  | 164587 | 0.0 |
| 120762 | 4.750%, 02/01/2035 |  | 119678 | 0.0 |
| 184607 | 4.750%, 04/01/2035 |  | 184622 | 0.0 |
| 302296 | 4.750%, 05/01/2035 |  | 302139 | 0.0 |
| 54925 | 4.750%, 07/01/2035 |  | 54412 | 0.0 |
| 284509 | 4.750%, 07/01/2035 |  | 284362 | 0.0 |
| 9638000 <sup>(3)</sup> | 5.000%, 04/01/2056 |  | 9506547 | 0.9 |
| 1454 | 5.030%, 05/01/2037 |  | 1453 | 0.0 |
| 77538 | 5.030%, 09/01/2037 |  | 78117 | 0.0 |
| 41359 | 5.155%, 01/01/2037 |  | 41856 | 0.0 |
| 22045 | 5.250%, 04/01/2032 |  | 22388 | 0.0 |
| 24185 | 5.250%, 04/01/2032 |  | 24883 | 0.0 |
| 20705 | 5.280%, 11/01/2036 |  | 21064 | 0.0 |
| 35078 | 5.280%, 01/01/2037 |  | 35681 | 0.0 |
| 67383 | 5.290%, 08/01/2037 |  | 68742 | 0.0 |
| 49808 | 5.290%, 09/01/2037 |  | 50813 | 0.0 |
| 53489 | 5.290%, 09/01/2037 |  | 54454 | 0.0 |
| 6838 | 5.300%, 10/01/2036 |  | 6933 | 0.0 |
| 47209 | 5.300%, 12/01/2036 |  | 48569 | 0.0 |
| 37902 | 5.300%, 05/01/2037 |  | 38677 | 0.0 |
| 167199 | 5.300%, 08/01/2037 |  | 169175 | 0.0 |
| 78265 | 5.390%, 12/01/2037 |  | 78279 | 0.0 |
| 128683 | 5.405%, 11/01/2036 |  | 131834 | 0.0 |
| 157573 | 5.405%, 02/01/2037 |  | 161402 | 0.0 |
| 41299 | 5.740%, 07/01/2037 |  | 42834 | 0.0 |
|  |  |  | **33355859** | **3.1** |
|  | Total U.S. Government Agency Obligations<br> (Cost $716,915,320) |  | **689607866** | **64.5** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 61.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 61.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 61.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 61.9%** |
| 86549 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W1 3A, 3.862%, 04/25/2042 | $85178 | 0.0 |
| 371090 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W6 3A, 5.438%, 01/25/2042 | 360802 | 0.0 |
| 2593191 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 | 2606776 | 0.2 |
| 286564 | Fannie Mae REMIC Trust 2003-16 CX, 6.500%, 03/25/2033 | 298364 | 0.0 |
| 1152076 | Fannie Mae REMIC Trust 2003-34 LN, 5.000%, 05/25/2033 | 1162746 | 0.1 |
| 2007762 | Fannie Mae REMIC Trust 2003-W15 2A7, 5.550%, 08/25/2043 | 2012435 | 0.2 |
| 2259857 | Fannie Mae REMIC Trust 2004-28 PZ, 6.000%, 05/25/2034 | 2281005 | 0.2 |
| 50911 <sup>(4)</sup> | Fannie Mae REMIC Trust 2004-61 SH, 8.890%, (-1.000\*SOFR30A + 23.530%), 11/25/2032 | 55247 | 0.0 |
| 45483 | Fannie Mae REMIC Trust 2004-68 LC, 5.000%, 09/25/2029 | 45770 | 0.0 |
| 1304268 | Fannie Mae REMIC Trust 2004-88 ZC, 6.500%, 12/25/2034 | 1386254 | 0.1 |
| 1218649 <sup>(4)</sup> | Fannie Mae REMIC Trust 2004-W11 2A, 4.985%, 03/25/2043 | 1162393 | 0.1 |
| 1676794 | Fannie Mae REMIC Trust 2004-W3 A8, 5.500%, 05/25/2034 | 1676901 | 0.2 |
| 13607 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-122 SE, 9.883%, (-1.000\*SOFR30A + 22.699%), 11/25/2035 | 13785 | 0.0 |
| 3109699 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-17 B, 6.500%, 03/25/2035 | 3227592 | 0.3 |
| 3704 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2005-17 ES, 2.974%, (-1.000\*SOFR30A + 6.636%), 03/25/2035 | 10 | 0.0 |
| 1199093 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2005-17 SA, 2.924%, (-1.000\*SOFR30A + 6.586%), 03/25/2035 | 94773 | 0.0 |
| 781875 | Fannie Mae REMIC Trust 2005-43 PZ, 6.000%, 05/25/2035 | 818913 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 39167 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-59 NQ, 7.434%, (-1.000\*SOFR30A + 16.589%), 05/25/2035 | $39802 | 0.0 |
| 125425 <sup>(4)</sup> | Fannie Mae REMIC Trust 2005-75 GS, 8.921%, (-1.000\*SOFR30A + 19.907%), 08/25/2035 | 132542 | 0.0 |
| 250013 | Fannie Mae REMIC Trust 2005-88 ZC, 5.000%, 10/25/2035 | 253695 | 0.0 |
| 1861549 | Fannie Mae REMIC Trust 2005-99 XA, 5.500%, 12/25/2035 | 1883891 | 0.2 |
| 34279 <sup>(4)</sup> | Fannie Mae REMIC Trust 2006-115 ES, 11.454%, (-1.000\*SOFR30A + 26.102%), 12/25/2036 | 38573 | 0.0 |
| 190597 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-36 SP, 2.924%, (-1.000\*SOFR30A + 6.586%), 05/25/2036 | 12277 | 0.0 |
| 9401 <sup>(6)</sup> | Fannie Mae REMIC Trust 2006-44 P, 0.000%, 12/25/2033 | 8215 | 0.0 |
| 1297402 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-79 SH, 2.674%, (-1.000\*SOFR30A + 6.336%), 08/25/2036 | 108263 | 0.0 |
| 2243436 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2006-8 HL, 2.924%, (-1.000\*SOFR30A + 6.586%), 03/25/2036 | 165649 | 0.0 |
| 577725 <sup>(4)</sup> | Fannie Mae REMIC Trust 2007-1 NR, 18.800%, (-1.000\*SOFR30A + 46.630%), 02/25/2037 | 831787 | 0.1 |
| 289145 | Fannie Mae REMIC Trust 2007-60 ZB, 4.750%, 05/25/2037 | 289676 | 0.0 |
| 79440 <sup>(4)</sup> | Fannie Mae REMIC Trust 2009-12 LK, 13.774%, 03/25/2039 | 89746 | 0.0 |
| 4098393 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2010-147 LS, 2.674%, (-1.000\*SOFR30A + 6.336%), 01/25/2041 | 416601 | 0.0 |
| 565602 <sup>(4)</sup> | Fannie Mae REMIC Trust 2010-26 F, 4.546%, (SOFR30A + 0.884%), 11/25/2036 | 568327 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 575015 <sup>(4)</sup> | Fannie Mae REMIC Trust 2010-39 FN, 4.606%, (SOFR30A + 0.944%), 05/25/2040 | $577994 | 0.1 |
| 355289 | Fannie Mae REMIC Trust 2010-80 PZ, 5.000%, 07/25/2040 | 358735 | 0.0 |
| 680795 | Fannie Mae REMIC Trust 2010-87 PL, 4.000%, 06/25/2040 | 671824 | 0.1 |
| 930209 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2010-95 SB, 2.824%, (-1.000\*SOFR30A + 6.486%), 09/25/2040 | 64892 | 0.0 |
| 794266 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 802558 | 0.1 |
| 750000 | Fannie Mae REMIC Trust 2011-105 MB, 4.000%, 10/25/2041 | 673835 | 0.1 |
| 920063 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 934491 | 0.1 |
| 844422 <sup>(4)</sup> | Fannie Mae REMIC Trust 2011-4 CS, 5.347%, (-1.000\*SOFR30A + 12.671%), 05/25/2040 | 851070 | 0.1 |
| 3803810 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 3767212 | 0.4 |
| 1493947 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2012-128 VS, 2.474%, (-1.000\*SOFR30A + 6.136%), 06/25/2042 | 61179 | 0.0 |
| 282099 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-137 EI, 3.000%, 12/25/2027 | 3457 | 0.0 |
| 67787 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-142 BI, 3.000%, 11/25/2027 | 131 | 0.0 |
| 2590709 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-148 HI, 3.500%, 05/25/2042 | 225683 | 0.0 |
| 1496815 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-148 IM, 3.000%, 01/25/2028 | 23521 | 0.0 |
| 1144263 | Fannie Mae REMIC Trust 2012-148 KH, 3.000%, 03/25/2042 | 1103819 | 0.1 |
| 996558 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-154 PI, 4.000%, 05/25/2042 | 103570 | 0.0 |
| 2829622 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 2750326 | 0.3 |
| 2549759 | Fannie Mae REMIC Trust 2012-27 EZ, 4.250%, 03/25/2042 | 2458575 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2500000 | Fannie Mae REMIC Trust 2012-40 MY, 3.500%, 04/25/2042 | $2333526 | 0.2 |
| 1658861 | Fannie Mae REMIC Trust 2012-66 KE, 4.000%, 06/25/2042 | 1585916 | 0.2 |
| 489361 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2012-68 SD, 2.924%, (-1.000\*SOFR30A + 6.586%), 06/25/2032 | 24971 | 0.0 |
| 3457000 | Fannie Mae REMIC Trust 2012-97 PC, 3.500%, 09/25/2042 | 2958369 | 0.3 |
| 876133 | Fannie Mae REMIC Trust 2013-125 AZ, 4.000%, 11/25/2039 | 785802 | 0.1 |
| 255934 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-13 PI, 3.500%, 04/25/2042 | 13328 | 0.0 |
| 857231 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-135 PO, 0.000%, 01/25/2044 | 627315 | 0.1 |
| 41166 | Fannie Mae REMIC Trust 2013-18 NA, 2.000%, 12/25/2042 | 36876 | 0.0 |
| 961253 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-25 BI, 3.000%, 03/25/2033 | 60290 | 0.0 |
| 555935 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-54 ID, 3.000%, 01/25/2033 | 22260 | 0.0 |
| 1020265 | Fannie Mae REMIC Trust 2013-55 VZ, 3.000%, 06/25/2043 | 928320 | 0.1 |
| 993416 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-62 AI, 3.000%, 06/25/2033 | 68106 | 0.0 |
| 1401927 | Fannie Mae REMIC Trust 2015-22 DY, 3.000%, 04/25/2045 | 1092813 | 0.1 |
| 1468756 | Fannie Mae REMIC Trust 2015-26 UZ, 3.000%, 05/25/2045 | 1230806 | 0.1 |
| 711932 | Fannie Mae REMIC Trust 2015-68 JW, 3.500%, 09/25/2030 | 691567 | 0.1 |
| 2630000 | Fannie Mae REMIC Trust 2016-103 PB, 3.000%, 01/25/2047 | 2336191 | 0.2 |
| 3260829 <sup>(4)(5)</sup> | Fannie Mae REMIC Trust 2016-4 DS, 2.324%, (-1.000\*SOFR30A + 5.986%), 02/25/2046 | 342884 | 0.0 |
| 1899325 <sup>(4)</sup> | Fannie Mae REMIC Trust 2016-51 S, 2.144%, (-1.000\*SOFR30A + 5.806%), 10/25/2043 | 1624023 | 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)** |
| 4333554 | Fannie Mae REMIC Trust 2016-64 LD, 3.500%, 09/25/2046 | $3998422 | 0.4 |
| 5288915 | Fannie Mae REMIC Trust 2017-22 DZ, 4.000%, 04/25/2047 | 5018768 | 0.5 |
| 443764 | Fannie Mae REMIC Trust 2018-25 AL, 3.500%, 04/25/2048 | 402365 | 0.0 |
| 523709 | Fannie Mae REMIC Trust 2018-37 DZ, 4.000%, 06/25/2048 | 496302 | 0.1 |
| 2562082 <sup>(5)</sup> | Fannie Mae REMIC Trust 2019-49 IG, 3.000%, 03/25/2033 | 167529 | 0.0 |
| 2899325 | Fannie Mae REMIC Trust 2019-6 GZ, 4.000%, 03/25/2059 | 2566527 | 0.2 |
| 13298000 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-34 AI, 3.500%, 06/25/2035 | 908172 | 0.1 |
| 1849390 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-44 TI, 5.500%, 12/25/2035 | 250667 | 0.0 |
| 21099092 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-89 KI, 4.000%, 12/25/2050 | 3985940 | 0.4 |
| 3816287 | Fannie Mae REMIC Trust 2023-55 AY, 6.500%, 11/25/2053 | 3967197 | 0.4 |
| 12208002 <sup>(4)</sup> | Fannie Mae REMIC Trust 2025-1 FE, 5.112%, (SOFR30A + 1.450%), 02/25/2055 | 12320224 | 1.2 |
| 7839100 | Fannie Mae REMIC Trust 2025-4 PZ, 5.500%, 07/25/2054 | 7830827 | 0.7 |
| 718182 <sup>(4)</sup> | Fannie Mae Trust 2004-W2 3A, 5.156%, 02/25/2044 | 725349 | 0.1 |
| 538637 <sup>(4)</sup> | Fannie Mae Trust 2004-W2 4A, 5.030%, 02/25/2044 | 531538 | 0.1 |
| 154621 <sup>(4)</sup> | Freddie Mac REMIC Trust 2653 SC, 4.908%, (-1.000\*SOFR30A + 6.743%), 07/15/2033 | 154859 | 0.0 |
| 335088 | Freddie Mac REMIC Trust 2767 ZW, 6.000%, 03/15/2034 | 347401 | 0.0 |
| 75734 <sup>(6)</sup> | Freddie Mac REMIC Trust 2974 KO, 0.000%, 05/15/2035 | 63383 | 0.0 |
| 7513 <sup>(4)</sup> | Freddie Mac REMIC Trust 3012 ST, 8.328%, (-1.000\*SOFR30A + 21.548%), 04/15/2035 | 7626 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 93688 <sup>(4)</sup> | Freddie Mac REMIC Trust 3065 DC, 8.500%, (-1.000\*SOFR30A + 19.517%), 03/15/2035 | $99473 | 0.0 |
| 176640 | Freddie Mac REMIC Trust 3158 NE, 5.500%, 05/15/2036 | 181436 | 0.0 |
| 1704289 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 3181 TA, 0.500%, (-1.000\*SOFR30A + 5.544%), 07/15/2036 | 25385 | 0.0 |
| 4433244 | Freddie Mac REMIC Trust 3196 ZK, 6.500%, 04/15/2032 | 4571151 | 0.4 |
| 68539 <sup>(5)</sup> | Freddie Mac REMIC Trust 3507 IA, 5.500%, 09/15/2035 | 6796 | 0.0 |
| 856335 | Freddie Mac REMIC Trust 3658 CZ, 5.000%, 04/15/2040 | 866519 | 0.1 |
| 2867954 | Freddie Mac REMIC Trust 3770 GA, 4.500%, 10/15/2040 | 2860441 | 0.3 |
| 138659 <sup>(4)</sup> | Freddie Mac REMIC Trust 3864 NT, 5.500%, (-1.000\*SOFR30A + 59.451%), 03/15/2039 | 139587 | 0.0 |
| 764150 | Freddie Mac REMIC Trust 3888 ZG, 4.000%, 07/15/2041 | 736185 | 0.1 |
| 2935531 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 3960 SG, 2.213%, (-1.000\*SOFR30A + 5.886%), 11/15/2041 | 259543 | 0.0 |
| 1690002 | Freddie Mac REMIC Trust 4040 UZ, 5.000%, 05/15/2042 | 1658230 | 0.2 |
| 5075000 | Freddie Mac REMIC Trust 4059 DY, 3.500%, 06/15/2042 | 4858598 | 0.5 |
| 915349 | Freddie Mac REMIC Trust 4097 ZA, 3.500%, 08/15/2042 | 863195 | 0.1 |
| 3723185 | Freddie Mac REMIC Trust 4136 ZG, 3.000%, 11/15/2042 | 3414733 | 0.3 |
| 8403810 | Freddie Mac REMIC Trust 4159 LZ, 3.500%, 01/15/2043 | 7916887 | 0.7 |
| 1304350 <sup>(5)</sup> | Freddie Mac REMIC Trust 4176 IA, 2.500%, 03/15/2028 | 20185 | 0.0 |
| 1871677 <sup>(4)</sup> | Freddie Mac REMIC Trust 4249 CS, 1.813%, (-1.000\*SOFR30A + 4.564%), 09/15/2043 | 1419247 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2183153 <sup>(4)</sup> | Freddie Mac REMIC Trust 4274 US, 2.063%, (-1.000\*SOFR30A + 5.736%), 10/15/2035 | $2002065 | 0.2 |
| 9318922 | Freddie Mac REMIC Trust 4367 MZ, 4.000%, 07/15/2044 | 8976468 | 0.8 |
| 2250392 | Freddie Mac REMIC Trust 4372 Z, 3.000%, 08/15/2044 | 2050442 | 0.2 |
| 4396968 <sup>(4)(5)</sup> | Freddie Mac REMIC Trust 4438 AS, 2.413%, (-1.000\*SOFR30A + 6.086%), 02/15/2045 | 362715 | 0.0 |
| 4505088 | Freddie Mac REMIC Trust 4480 ZX, 4.000%, 11/15/2044 | 4342735 | 0.4 |
| 3189279 | Freddie Mac REMIC Trust 4631 CZ, 3.500%, 11/15/2046 | 2958868 | 0.3 |
| 1839170 | Freddie Mac REMIC Trust 4818 GZ, 4.000%, 08/15/2048 | 1741009 | 0.2 |
| 2127299 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | 1880595 | 0.2 |
| 2597868 | Freddie Mac REMIC Trust 5000 DC, 2.500%, 03/25/2040 | 2299694 | 0.2 |
| 17228274 <sup>(5)</sup> | Freddie Mac REMIC Trust 5013 QI, 3.500%, 09/25/2050 | 3258865 | 0.3 |
| 8800000 | Freddie Mac REMIC Trust 5361 BY, 7.000%, 12/25/2053 | 9436787 | 0.9 |
| 4643779 | Freddie Mac REMIC Trust 5369 B, 6.000%, 01/25/2054 | 4758720 | 0.5 |
| 1107398 <sup>(4)</sup> | Freddie Mac Securities REMIC Trust 2005-S001 2A2, 3.943%, (TSFR1M + 0.264%), 09/25/2045 | 1084943 | 0.1 |
| 616838 <sup>(4)</sup> | Freddie Mac Structured Pass-Through Certificates T-48 2A, 4.560%, 07/25/2033 | 590631 | 0.1 |
| 302927 <sup>(4)</sup> | Freddie Mac Structured Pass-Through Certificates T-54 4A, 4.257%, 02/25/2043 | 293469 | 0.0 |
| 6106881 | Freddie Mac Whole Loan Securities Trust 2017-SC02 1A2, 3.000%, 05/25/2047 | 5227958 | 0.5 |
| 38367 | Ginnie Mae 2004-16 AE, 5.500%, 02/20/2034 | 38462 | 0.0 |
| 263831 | Ginnie Mae 2004-28 CZ, 5.500%, 04/20/2034 | 265922 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 127625 <sup>(6)</sup> | Ginnie Mae 2004-37 OA, 0.000%, 04/17/2034 | $111320 | 0.0 |
| 375899 | Ginnie Mae 2004-65 ZG, 5.500%, 07/20/2034 | 379611 | 0.0 |
| 919419 | Ginnie Mae 2004-81 Z, 5.000%, 10/20/2034 | 917017 | 0.1 |
| 399303 <sup>(4)(5)</sup> | Ginnie Mae 2004-98 SA, 2.910%, (-1.000\*TSFR1M + 6.586%), 11/20/2034 | 32479 | 0.0 |
| 349645 | Ginnie Mae 2005-21 Z, 5.000%, 03/20/2035 | 349682 | 0.0 |
| 35659 <sup>(4)(5)</sup> | Ginnie Mae 2005-25 SI, 6.000%, (-1.000\*TSFR1M + 42.513%), 01/20/2034 | 4270 | 0.0 |
| 171811 <sup>(4)(5)</sup> | Ginnie Mae 2005-7 AH, 2.983%, (-1.000\*TSFR1M + 6.656%), 02/16/2035 | 11924 | 0.0 |
| 528130 | Ginnie Mae 2005-80 Z, 5.000%, 10/20/2035 | 527893 | 0.1 |
| 2418 <sup>(4)</sup> | Ginnie Mae 2005-91 UP, 6.726%, (-1.000\*TSFR1M + 14.071%), 09/16/2031 | 2438 | 0.0 |
| 1213314 | Ginnie Mae 2006-17 TW, 6.000%, 04/20/2036 | 1219479 | 0.1 |
| 42140 <sup>(4)</sup> | Ginnie Mae 2006-61 FA, 4.040%, (TSFR1M + 0.364%), 11/20/2036 | 42140 | 0.0 |
| 822136 | Ginnie Mae 2006-7 ZA, 5.500%, 02/20/2036 | 834755 | 0.1 |
| 522768 <sup>(5)</sup> | Ginnie Mae 2007-17 CI, 7.500%, 04/16/2037 | 63443 | 0.0 |
| 659276 <sup>(6)</sup> | Ginnie Mae 2007-41 OL, 0.000%, 07/20/2037 | 550000 | 0.1 |
| 37455 | Ginnie Mae 2007-45 PE, 5.500%, 07/16/2037 | 37637 | 0.0 |
| 146704 <sup>(4)</sup> | Ginnie Mae 2007-48 SY, 8.889%, (-1.000\*TSFR1M + 19.907%), 08/16/2037 | 145157 | 0.0 |
| 25491 <sup>(4)</sup> | Ginnie Mae 2007-53 SW, 8.836%, (-1.000\*TSFR1M + 19.862%), 09/20/2037 | 27339 | 0.0 |
| 426853 | Ginnie Mae 2007-60 YZ, 5.500%, 10/20/2037 | 425882 | 0.0 |
| 244507 <sup>(4)(5)</sup> | Ginnie Mae 2008-3 SA, 2.760%, (-1.000\*TSFR1M + 6.436%), 01/20/2038 | 23553 | 0.0 |
| 307724 <sup>(4)(5)</sup> | Ginnie Mae 2008-40 PS, 2.713%, (-1.000\*TSFR1M + 6.386%), 05/16/2038 | 17103 | 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)** |
| 552165 <sup>(4)(5)</sup> | Ginnie Mae 2008-51 GS, 2.443%, (-1.000\*TSFR1M + 6.116%), 06/16/2038 | $46941 | 0 |
| 1024923 <sup>(4)(5)</sup> | Ginnie Mae 2008-82 SA, 2.210%, (-1.000\*TSFR1M + 5.886%), 09/20/2038 | 79253 | 0 |
| 7232028 | Ginnie Mae 2009-110 ZA, 5.500%, 11/16/2039 | 7305280 | 0.7 |
| 1041309 | Ginnie Mae 2009-110 ZC, 4.500%, 11/16/2039 | 1013915 | 0.1 |
| 1468347 | Ginnie Mae 2009-118 XZ, 5.000%, 12/20/2039 | 1490970 | 0.1 |
| 686794 | Ginnie Mae 2009-121 ZQ, 5.500%, 09/20/2039 | 703155 | 0.1 |
| 591594 | Ginnie Mae 2009-31 BP, 5.000%, 05/20/2039 | 595020 | 0.1 |
| 891624 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 894881 | 0.1 |
| 1032641 | Ginnie Mae 2009-32 QZ, 5.500%, 05/16/2039 | 1028573 | 0.1 |
| 746422 | Ginnie Mae 2009-32 YZ, 7.000%, 05/16/2039 | 753081 | 0.1 |
| 915255 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 919522 | 0.1 |
| 1131117 | Ginnie Mae 2009-53 ZB, 6.000%, 07/16/2039 | 1174969 | 0.1 |
| 226313 | Ginnie Mae 2009-54 HZ, 5.000%, 07/20/2039 | 230952 | 0 |
| 109714 <sup>(4)(5)</sup> | Ginnie Mae 2009-55 BI, 1.000%, (-1.000\*TSFR1M + 159.638%), 06/16/2037 | 3446 | 0 |
| 1566385 | Ginnie Mae 2009-61 EZ, 7.500%, 08/20/2039 | 1637786 | 0.2 |
| 8679446 | Ginnie Mae 2009-61 PZ, 7.500%, 08/20/2039 | 9114731 | 0.9 |
| 10791101 | Ginnie Mae 2009-61 ZQ, 6.000%, 08/16/2039 | 10962362 | 1 |
| 331531 <sup>(4)(5)</sup> | Ginnie Mae 2009-66 QS, 2.310%, (-1.000\*TSFR1M + 5.986%), 07/20/2039 | 11250 | 0 |
| 3447899 | Ginnie Mae 2009-68 ZC, 5.500%, 08/16/2039 | 3539133 | 0.3 |
| 322624 <sup>(4)(5)</sup> | Ginnie Mae 2009-77 SA, 2.363%, (-1.000\*TSFR1M + 6.036%), 09/16/2039 | 24433 | 0 |
| 2550185 | Ginnie Mae 2009-77 ZB, 5.500%, 09/16/2039 | 2642833 | 0.3 |
| 1452642 | Ginnie Mae 2009-79 PZ, 6.000%, 09/20/2039 | 1481940 | 0.1 |
| 787745 | Ginnie Mae 2009-87 PZ, 5.500%, 10/20/2039 | 815797 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2884948 | Ginnie Mae 2009-87 WZ, 6.000%, 10/20/2039 | $2966500 | 0.3 |
| 794497 | Ginnie Mae 2009-92 DZ, 4.500%, 10/16/2039 | 781920 | 0.1 |
| 1928242 | Ginnie Mae 2009-98 MZ, 5.000%, 10/16/2039 | 1961008 | 0.2 |
| 190211 <sup>(4)</sup> | Ginnie Mae 2009-H01 FA, 4.940%, (TSFR1M + 1.264%), 11/20/2059 | 191980 | 0.0 |
| 268776 <sup>(5)</sup> | Ginnie Mae 2010-106 IP, 5.000%, 03/20/2040 | 8344 | 0.0 |
| 4834696 | Ginnie Mae 2010-113 BE, 4.500%, 09/20/2040 | 4841694 | 0.5 |
| 400641 <sup>(4)(5)</sup> | Ginnie Mae 2010-116 NS, 2.863%, (-1.000\*TSFR1M + 6.536%), 09/16/2040 | 28081 | 0.0 |
| 1784072 | Ginnie Mae 2010-116 PB, 5.000%, 06/16/2040 | 1824355 | 0.2 |
| 4458694 | Ginnie Mae 2010-117 ZQ, 4.500%, 09/20/2040 | 4365357 | 0.4 |
| 918000 | Ginnie Mae 2010-121 TB, 4.000%, 09/20/2040 | 869803 | 0.1 |
| 1707777 | Ginnie Mae 2010-125 BZ, 4.500%, 09/16/2040 | 1704655 | 0.2 |
| 456448 <sup>(4)(5)</sup> | Ginnie Mae 2010-158 SA, 2.260%, (-1.000\*TSFR1M + 5.936%), 12/20/2040 | 44902 | 0.0 |
| 605033 | Ginnie Mae 2010-162 ZE, 4.000%, 12/16/2040 | 585773 | 0.1 |
| 4935391 <sup>(4)(5)</sup> | Ginnie Mae 2010-166 GS, 2.210%, (-1.000\*TSFR1M + 5.886%), 12/20/2040 | 454745 | 0.0 |
| 321658 | Ginnie Mae 2010-169 AW, 4.500%, 12/20/2040 | 321691 | 0.0 |
| 642723 | Ginnie Mae 2010-31 BP, 5.000%, 03/20/2040 | 649953 | 0.1 |
| 277283 <sup>(5)</sup> | Ginnie Mae 2010-4 WI, 6.000%, 01/16/2040 | 34234 | 0.0 |
| 3569253 | Ginnie Mae 2010-42 VZ, 5.500%, 10/20/2039 | 3722675 | 0.4 |
| 503083 | Ginnie Mae 2010-59 ZA, 4.500%, 05/20/2040 | 501674 | 0.1 |
| 124193 <sup>(4)</sup> | Ginnie Mae 2010-H11 FA, 4.787%, (TSFR1M + 1.114%), 06/20/2060 | 125059 | 0.0 |
| 551703 <sup>(4)</sup> | Ginnie Mae 2010-H20 AF, 4.113%, (TSFR1M + 0.444%), 10/20/2060 | 550478 | 0.1 |
| 6461 <sup>(4)</sup> | Ginnie Mae 2010-H26 LF, 4.133%, (TSFR1M + 0.464%), 08/20/2058 | 6445 | 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)** |
| 51671 <sup>(5)</sup> | Ginnie Mae 2011-123 QI, 5.000%, 05/20/2041 | $2132 | 0.0 |
| 294152 <sup>(4)</sup> | Ginnie Mae 2011-128 TF, 4.237%, (TSFR1M + 0.564%), 05/16/2041 | 291799 | 0.0 |
| 994096 <sup>(4)(5)</sup> | Ginnie Mae 2011-141 PS, 2.913%, (-1.000\*TSFR1M + 6.586%), 06/16/2041 | 47766 | 0.0 |
| 1167504 <sup>(5)</sup> | Ginnie Mae 2011-146 EI, 5.000%, 11/16/2041 | 195559 | 0.0 |
| 945000 | Ginnie Mae 2011-151 PY, 3.000%, 11/20/2041 | 825412 | 0.1 |
| 10356 | Ginnie Mae 2011-169 BC, 7.000%, 05/16/2032 | 10451 | 0.0 |
| 76963 <sup>(4)</sup> | Ginnie Mae 2011-169 BG, 5.450%, 04/16/2039 | 77184 | 0.0 |
| 3376453 | Ginnie Mae 2011-25 Z, 4.000%, 02/20/2041 | 3312156 | 0.3 |
| 928464 | Ginnie Mae 2011-59 QC, 4.000%, 12/20/2040 | 916440 | 0.1 |
| 1435748 | Ginnie Mae 2011-89 Z, 3.500%, 06/20/2041 | 1354136 | 0.1 |
| 201028 <sup>(4)</sup> | Ginnie Mae 2011-H01 AF, 4.233%, (TSFR1M + 0.564%), 11/20/2060 | 200916 | 0.0 |
| 467220 <sup>(4)</sup> | Ginnie Mae 2011-H03 FA, 4.283%, (TSFR1M + 0.614%), 01/20/2061 | 467316 | 0.1 |
| 92206 <sup>(4)</sup> | Ginnie Mae 2011-H07 FA, 4.283%, (TSFR1M + 0.614%), 02/20/2061 | 92227 | 0.0 |
| 55293 <sup>(4)</sup> | Ginnie Mae 2011-H08 FD, 4.283%, (TSFR1M + 0.614%), 02/20/2061 | 55307 | 0.0 |
| 259407 <sup>(4)</sup> | Ginnie Mae 2011-H09 AF, 4.283%, (TSFR1M + 0.614%), 03/20/2061 | 259459 | 0.0 |
| 456756 <sup>(4)</sup> | Ginnie Mae 2011-H19 FA, 4.253%, (TSFR1M + 0.584%), 08/20/2061 | 456652 | 0.0 |
| 158464 <sup>(4)</sup> | Ginnie Mae 2011-H21 FT, 4.200%, (H15T1Y + 0.700%), 10/20/2061 | 159029 | 0.0 |
| 178192 <sup>(5)</sup> | Ginnie Mae 2012-103 IC, 3.500%, 08/16/2040 | 2178 | 0.0 |
| 158108 <sup>(5)</sup> | Ginnie Mae 2012-124 MI, 4.000%, 03/20/2042 | 12345 | 0.0 |
| 9060250 <sup>(5)</sup> | Ginnie Mae 2012-136 BI, 3.500%, 11/20/2042 | 1423411 | 0.1 |
| 81788 <sup>(4)(5)</sup> | Ginnie Mae 2012-34 MS, 2.913%, (-1.000\*TSFR1M + 6.586%), 04/16/2041 | 2352 | 0.0 |
| 1693998 <sup>(4)(5)</sup> | Ginnie Mae 2012-48 SA, 2.863%, (-1.000\*TSFR1M + 6.536%), 04/16/2042 | 186552 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2201115 <sup>(4)(5)</sup> | Ginnie Mae 2012-60 SG, 2.313%, (-1.000\*TSFR1M + 5.986%), 05/16/2042 | $188616 | 0.0 |
| 425602 <sup>(4)(5)</sup> | Ginnie Mae 2012-93 NS, 2.310%, (-1.000\*TSFR1M + 5.986%), 07/20/2042 | 34108 | 0.0 |
| 387775 <sup>(5)</sup> | Ginnie Mae 2012-98 EI, 4.000%, 04/20/2041 | 28217 | 0.0 |
| 602686 <sup>(4)</sup> | Ginnie Mae 2012-H06 FS, 4.483%, (TSFR1M + 0.814%), 03/20/2062 | 604576 | 0.1 |
| 71008 <sup>(4)</sup> | Ginnie Mae 2012-H11 FA, 4.483%, (TSFR1M + 0.814%), 02/20/2062 | 71225 | 0.0 |
| 53637 <sup>(4)</sup> | Ginnie Mae 2012-H11 GA, 4.363%, (TSFR1M + 0.694%), 05/20/2062 | 53711 | 0.0 |
| 327139 <sup>(4)</sup> | Ginnie Mae 2012-H11 VA, 4.433%, (TSFR1M + 0.764%), 05/20/2062 | 328312 | 0.0 |
| 260593 <sup>(4)</sup> | Ginnie Mae 2012-H12 FA, 4.333%, (TSFR1M + 0.664%), 04/20/2062 | 260106 | 0.0 |
| 72511 <sup>(4)</sup> | Ginnie Mae 2012-H14 FK, 4.363%, (TSFR1M + 0.694%), 07/20/2062 | 72589 | 0.0 |
| 52300 <sup>(4)</sup> | Ginnie Mae 2012-H29 FA, 4.298%, (TSFR1M + 0.629%), 10/20/2062 | 52320 | 0.0 |
| 292858 <sup>(4)</sup> | Ginnie Mae 2012-H30 GA, 4.133%, (TSFR1M + 0.464%), 12/20/2062 | 290732 | 0.0 |
| 852775 | Ginnie Mae 2013-119 TZ, 3.000%, 08/20/2043 | 768464 | 0.1 |
| 7000000 | Ginnie Mae 2013-147 BE, 4.000%, 12/20/2039 | 6623961 | 0.6 |
| 1639131 | Ginnie Mae 2013-167 Z, 3.000%, 10/16/2043 | 1545407 | 0.2 |
| 1900000 <sup>(5)</sup> | Ginnie Mae 2013-186 UI, 2.500%, 11/20/2043 | 217677 | 0.0 |
| 336465 <sup>(5)</sup> | Ginnie Mae 2013-186 VI, 4.000%, 12/20/2042 | 43758 | 0.0 |
| 2363082 | Ginnie Mae 2013-186 ZE, 2.500%, 12/16/2043 | 2078412 | 0.2 |
| 1285535 <sup>(5)</sup> | Ginnie Mae 2013-20 LI, 4.500%, 12/16/2042 | 112906 | 0.0 |
| 1203316 <sup>(5)</sup> | Ginnie Mae 2013-23 IO, 3.500%, 02/20/2043 | 183865 | 0.0 |
| 436796 <sup>(4)(5)</sup> | Ginnie Mae 2013-88 AI, 2.068%, (-1.000\*TSFR1M + 5.736%), 06/20/2043 | 31526 | 0.0 |
| 796808 <sup>(4)(5)</sup> | Ginnie Mae 2013-99 SK, 2.118%, (-1.000\*TSFR1M + 5.786%), 07/20/2043 | 47927 | 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)** |
| 278869 <sup>(4)</sup> | Ginnie Mae 2013-H02 FD, 4.123%, (TSFR1M + 0.454%), 12/20/2062 | $278345 | 0.0 |
| 43145 <sup>(4)</sup> | Ginnie Mae 2013-H07 HA, 4.193%, (TSFR1M + 0.524%), 03/20/2063 | 43093 | 0.0 |
| 145170 <sup>(4)</sup> | Ginnie Mae 2013-H10 FT, 3.950%, (H15T1Y + 0.450%), 04/20/2063 | 145209 | 0.0 |
| 255532 <sup>(4)</sup> | Ginnie Mae 2013-H14 FC, 4.253%, (TSFR1M + 0.584%), 06/20/2063 | 255473 | 0.0 |
| 98846 <sup>(4)</sup> | Ginnie Mae 2013-H14 FD, 4.253%, (TSFR1M + 0.584%), 06/20/2063 | 98819 | 0.0 |
| 102488 <sup>(4)</sup> | Ginnie Mae 2013-H14 FG, 4.253%, (TSFR1M + 0.584%), 05/20/2063 | 102465 | 0.0 |
| 90094 <sup>(4)</sup> | Ginnie Mae 2013-H17 FA, 4.333%, (TSFR1M + 0.664%), 07/20/2063 | 90181 | 0.0 |
| 26080 <sup>(4)</sup> | Ginnie Mae 2013-H18 EA, 4.283%, (TSFR1M + 0.614%), 07/20/2063 | 26087 | 0.0 |
| 224506 <sup>(4)</sup> | Ginnie Mae 2013-H18 FA, 4.283%, (TSFR1M + 0.614%), 06/20/2063 | 224549 | 0.0 |
| 380596 <sup>(4)</sup> | Ginnie Mae 2013-H19 DF, 4.433%, (TSFR1M + 0.764%), 05/20/2063 | 380913 | 0.0 |
| 283247 <sup>(4)</sup> | Ginnie Mae 2013-H20 FB, 4.783%, (TSFR1M + 1.114%), 08/20/2063 | 285833 | 0.0 |
| 21527 <sup>(4)</sup> | Ginnie Mae 2013-H21 FB, 4.483%, (TSFR1M + 0.814%), 09/20/2063 | 21572 | 0.0 |
| 119572 <sup>(4)</sup> | Ginnie Mae 2013-H22 FB, 4.483%, (TSFR1M + 0.814%), 08/20/2063 | 119929 | 0.0 |
| 219248 <sup>(4)</sup> | Ginnie Mae 2013-H22 FT, 4.150%, (H15T1Y + 0.650%), 04/20/2063 | 219639 | 0.0 |
| 141340 <sup>(4)</sup> | Ginnie Mae 2013-H23 FA, 5.083%, (TSFR1M + 1.414%), 09/20/2063 | 142487 | 0.0 |
| 1316833 <sup>(4)(5)</sup> | Ginnie Mae 2014-107 XS, 1.813%, (-1.000\*TSFR1M + 5.486%), 07/16/2044 | 97208 | 0.0 |
| 2793200 | Ginnie Mae 2014-115 EM, 4.000%, 08/20/2044 | 2652467 | 0.3 |
| 1893173 | Ginnie Mae 2014-118 ZP, 4.000%, 08/20/2044 | 1793580 | 0.2 |
| 795253 <sup>(4)(5)</sup> | Ginnie Mae 2014-129 WS, 2.118%, (-1.000\*TSFR1M + 5.786%), 09/20/2044 | 52388 | 0.0 |
| 1850316 | Ginnie Mae 2014-149 KL, 4.000%, 10/16/2044 | 1666714 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 573169 <sup>(4)(5)</sup> | Ginnie Mae 2014-161 WS, 2.118%, (-1.000\*TSFR1M + 5.786%), 11/20/2044 | $39199 | 0.0 |
| 707319 <sup>(5)</sup> | Ginnie Mae 2014-183 IM, 5.000%, 06/20/2035 | 99235 | 0.0 |
| 910545 <sup>(4)(5)</sup> | Ginnie Mae 2014-30 ES, 1.210%, (-1.000\*TSFR1M + 4.886%), 03/20/2040 | 47480 | 0.0 |
| 630668 <sup>(4)(5)</sup> | Ginnie Mae 2014-96 SQ, 1.813%, (-1.000\*TSFR1M + 5.486%), 07/16/2044 | 47458 | 0.0 |
| 1379504 <sup>(5)</sup> | Ginnie Mae 2014-99 IO, 4.500%, 06/20/2044 | 271135 | 0.0 |
| 208723 <sup>(4)</sup> | Ginnie Mae 2014-H04 FB, 4.433%, (TSFR1M + 0.764%), 02/20/2064 | 209110 | 0.0 |
| 274816 <sup>(4)</sup> | Ginnie Mae 2014-H05 FB, 4.383%, (TSFR1M + 0.714%), 12/20/2063 | 275220 | 0.0 |
| 157157 <sup>(4)</sup> | Ginnie Mae 2014-H06 FA, 4.353%, (TSFR1M + 0.684%), 03/20/2064 | 157337 | 0.0 |
| 64254 <sup>(4)</sup> | Ginnie Mae 2014-H06 HB, 4.433%, (TSFR1M + 0.764%), 03/20/2064 | 64435 | 0.0 |
| 345858 <sup>(4)</sup> | Ginnie Mae 2014-H21 FA, 4.433%, (TSFR1M + 0.764%), 10/20/2064 | 346359 | 0.0 |
| 7513305 <sup>(4)</sup> | Ginnie Mae 2015-10 Q, 2.436%, 10/20/2044 | 6601246 | 0.6 |
| 130000 | Ginnie Mae 2015-123 GY, 3.000%, 09/20/2045 | 101789 | 0.0 |
| 2364266 <sup>(4)(5)</sup> | Ginnie Mae 2015-141 IX, 0.311%, (-1.000\*TSFR1M + 2.060%), 06/20/2045 | 29604 | 0.0 |
| 15027206 | Ginnie Mae 2015-143 B, 3.500%, 04/20/2045 | 13750522 | 1.3 |
| 1436990 <sup>(5)</sup> | Ginnie Mae 2015-149 IL, 4.500%, 10/20/2045 | 294440 | 0.0 |
| 640599 <sup>(5)</sup> | Ginnie Mae 2015-157 PI, 4.000%, 03/20/2044 | 51871 | 0.0 |
| 1824451 | Ginnie Mae 2015-165 ZA, 3.500%, 07/20/2045 | 1699418 | 0.2 |
| 4460381 | Ginnie Mae 2015-64 ZH, 2.500%, 05/16/2045 | 3936572 | 0.4 |
| 233470 <sup>(4)</sup> | Ginnie Mae 2015-H03 FA, 4.283%, (TSFR1M + 0.614%), 12/20/2064 | 233505 | 0.0 |
| 249326 <sup>(4)</sup> | Ginnie Mae 2015-H06 FA, 4.263%, (TSFR1M + 0.594%), 02/20/2065 | 249301 | 0.0 |
| 288612 <sup>(4)</sup> | Ginnie Mae 2015-H08 FC, 4.263%, (TSFR1M + 0.594%), 03/20/2065 | 288585 | 0.0 |
| 322598 <sup>(4)</sup> | Ginnie Mae 2015-H10 FH, 4.383%, (TSFR1M + 0.714%), 04/20/2065 | 322768 | 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)** |
| 34178 <sup>(4)</sup> | Ginnie Mae 2015-H12 FA, 4.263%, (TSFR1M + 0.594%), 05/20/2065 | $34174 | 0 |
| 67017 <sup>(4)</sup> | Ginnie Mae 2015-H14 FB, 4.213%, (TSFR1M + 0.544%), 05/20/2065 | 66968 | 0 |
| 206349 <sup>(4)</sup> | Ginnie Mae 2015-H18 FB, 4.383%, (TSFR1M + 0.714%), 07/20/2065 | 206479 | 0 |
| 192198 <sup>(4)</sup> | Ginnie Mae 2015-H20 FB, 4.383%, (TSFR1M + 0.714%), 08/20/2065 | 192351 | 0 |
| 407047 <sup>(4)</sup> | Ginnie Mae 2015-H22 FC, 4.383%, (TSFR1M + 0.714%), 09/20/2065 | 407379 | 0 |
| 68340 <sup>(4)</sup> | Ginnie Mae 2015-H26 FC, 4.383%, (TSFR1M + 0.714%), 08/20/2065 | 68437 | 0 |
| 246664 <sup>(4)</sup> | Ginnie Mae 2015-H26 FG, 4.303%, (TSFR1M + 0.634%), 10/20/2065 | 246786 | 0 |
| 79607 <sup>(4)</sup> | Ginnie Mae 2015-H31 FT, 4.433%, (TSFR1M + 0.764%), 11/20/2065 | 79925 | 0 |
| 7703539 <sup>(5)</sup> | Ginnie Mae 2016-120 IM, 3.500%, 07/20/2046 | 843997 | 0.1 |
| 3757602 <sup>(5)</sup> | Ginnie Mae 2016-145 IU, 3.500%, 10/20/2046 | 649737 | 0.1 |
| 5564193 <sup>(4)(5)</sup> | Ginnie Mae 2016-20 BS, 2.310%, (-1.000\*TSFR1M + 5.986%), 02/20/2046 | 604109 | 0.1 |
| 1940130 <sup>(4)</sup> | Ginnie Mae 2016-5 AB, 4.692%, 01/20/2046 | 1956026 | 0.2 |
| 3378134 | Ginnie Mae 2016-69 B, 3.000%, 05/20/2046 | 3031980 | 0.3 |
| 49931 <sup>(4)</sup> | Ginnie Mae 2016-H01 FL, 4.433%, (TSFR1M + 0.764%), 12/20/2065 | 50037 | 0 |
| 363531 <sup>(4)</sup> | Ginnie Mae 2016-H02 FH, 4.783%, (TSFR1M + 1.114%), 01/20/2066 | 365740 | 0 |
| 80891 <sup>(4)</sup> | Ginnie Mae 2016-H03 FB, 4.433%, (TSFR1M + 0.764%), 01/20/2066 | 81075 | 0 |
| 417023 <sup>(4)</sup> | Ginnie Mae 2016-H09 FB, 4.683%, (TSFR1M + 1.014%), 04/20/2066 | 418711 | 0 |
| 203844 <sup>(4)</sup> | Ginnie Mae 2016-H11 FE, 4.633%, (TSFR1M + 0.964%), 04/20/2066 | 204727 | 0 |
| 185501 <sup>(4)</sup> | Ginnie Mae 2016-H13 FD, 3.950%, (H15T1Y + 0.450%), 05/20/2066 | 185560 | 0 |
| 13716 <sup>(4)</sup> | Ginnie Mae 2016-H13 FT, 4.363%, (TSFR1M + 0.694%), 05/20/2066 | 13725 | 0 |
| 42716 <sup>(4)</sup> | Ginnie Mae 2016-H20 FG, 4.483%, (TSFR1M + 0.814%), 08/20/2066 | 42756 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 4145259 | Ginnie Mae 2017-107 QZ, 3.000%, 08/20/2045 | $3496793 | 0.3 |
| 1000000 | Ginnie Mae 2017-117 BE, 2.500%, 08/20/2047 | 838738 | 0.1 |
| 1000000 | Ginnie Mae 2017-117 NG, 2.500%, 08/20/2047 | 819191 | 0.1 |
| 1829986 | Ginnie Mae 2017-122 CZ, 3.000%, 08/20/2047 | 1442465 | 0.1 |
| 1500051 <sup>(5)</sup> | Ginnie Mae 2017-123 IO, 5.000%, 08/16/2047 | 309378 | 0.0 |
| 2890000 | Ginnie Mae 2017-162 PL, 3.000%, 10/20/2047 | 2250296 | 0.2 |
| 750000 | Ginnie Mae 2017-163 YA, 2.500%, 11/20/2047 | 631892 | 0.1 |
| 10000000 | Ginnie Mae 2017-180 QB, 2.500%, 12/20/2047 | 8673172 | 0.8 |
| 970925 | Ginnie Mae 2017-56 HM, 3.000%, 12/20/2046 | 896389 | 0.1 |
| 5519685 | Ginnie Mae 2017-56 JZ, 3.000%, 04/20/2047 | 4736685 | 0.4 |
| 303311 <sup>(4)</sup> | Ginnie Mae 2017-H07 FG, 4.243%, (TSFR1M + 0.574%), 02/20/2067 | 303195 | 0.0 |
| 335649 <sup>(4)</sup> | Ginnie Mae 2017-H14 FV, 4.283%, (TSFR1M + 0.614%), 06/20/2067 | 335722 | 0.0 |
| 357781 <sup>(4)</sup> | Ginnie Mae 2017-H17 FG, 4.283%, (TSFR1M + 0.614%), 08/20/2067 | 357848 | 0.0 |
| 126257 <sup>(4)</sup> | Ginnie Mae 2017-H19 FA, 4.233%, (TSFR1M + 0.564%), 08/20/2067 | 126190 | 0.0 |
| 1065384 | Ginnie Mae 2018-112 AL, 3.500%, 08/20/2048 | 988376 | 0.1 |
| 391975 | Ginnie Mae 2018-163 DZ, 4.500%, 11/20/2048 | 355618 | 0.0 |
| 470952 <sup>(5)</sup> | Ginnie Mae 2018-78 IC, 4.000%, 02/20/2047 | 63350 | 0.0 |
| 1000000 | Ginnie Mae 2018-91 JN, 3.000%, 07/20/2048 | 802236 | 0.1 |
| 58112 <sup>(4)</sup> | Ginnie Mae 2018-H07 FE, 4.133%, (TSFR1M + 0.464%), 02/20/2068 | 57962 | 0.0 |
| 10691756 | Ginnie Mae 2019-1 LZ, 3.500%, 01/20/2049 | 9130496 | 0.9 |
| 1104211 | Ginnie Mae 2019-1 Z, 4.000%, 01/20/2049 | 1031805 | 0.1 |
| 2269279 <sup>(4)</sup> | Ginnie Mae 2019-100 FD, 4.190%, (TSFR1M + 0.514%), 08/20/2049 | 2231200 | 0.2 |
| 8614964 | Ginnie Mae 2019-123 CA, 3.000%, 10/20/2049 | 7755634 | 0.7 |
| 629282 <sup>(5)</sup> | Ginnie Mae 2019-29 AI, 5.000%, 07/20/2048 | 144452 | 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)** |
| 9779217 <sup>(5)</sup> | Ginnie Mae 2019-56 YI, 5.000%, 05/20/2049 | $2380124 | 0.2 |
| 109899 | Ginnie Mae 2019-71 EN, 4.000%, 06/20/2049 | 89790 | 0.0 |
| 131880 <sup>(4)</sup> | Ginnie Mae 2019-H10 FM, 4.183%, (TSFR1M + 0.514%), 05/20/2069 | 131721 | 0.0 |
| 394325 <sup>(4)</sup> | Ginnie Mae 2019-H19 FB, 4.233%, (TSFR1M + 0.564%), 11/20/2069 | 394129 | 0.0 |
| 15899773 <sup>(5)</sup> | Ginnie Mae 2020-47 LI, 3.500%, 04/20/2050 | 3059298 | 0.3 |
| 2383137 <sup>(4)(5)</sup> | Ginnie Mae 2020-62 KS, 2.360%, (-1.000\*TSFR1M + 6.036%), 05/20/2050 | 305163 | 0.0 |
| 15086890 <sup>(5)</sup> | Ginnie Mae 2020-63 BI, 3.500%, 05/20/2035 | 1463311 | 0.1 |
| 110363 <sup>(4)</sup> | Ginnie Mae 2020-H01 FT, 4.000%, (H15T1Y + 0.500%), 01/20/2070 | 110501 | 0.0 |
| 1265162 <sup>(5)</sup> | Ginnie Mae 2021-25 LI, 2.500%, 02/20/2051 | 176430 | 0.0 |
| 6694268 <sup>(4)(5)</sup> | Ginnie Mae 2021-58 SB, 2.510%, (-1.000\*TSFR1M + 6.186%), 04/20/2051 | 822520 | 0.1 |
| 4660933 <sup>(5)</sup> | Ginnie Mae 2021-74 KI, 3.000%, 04/20/2051 | 696762 | 0.1 |
| 12993691 <sup>(4)(5)</sup> | Ginnie Mae 2021-77 SK, 0.286%, (-1.000\*TSFR1M + 3.186%), 05/20/2051 | 215389 | 0.0 |
| 115574 <sup>(4)</sup> | Ginnie Mae 2021-H09 Z, 3.104%, 10/20/2066 | 108425 | 0.0 |
| 400000 | Ginnie Mae 2022-136 PB, 4.000%, 08/20/2052 | 335718 | 0.0 |
| 12561974 | Ginnie Mae 2022-205 ZG, 5.500%, 12/20/2052 | 12423181 | 1.2 |
| 2346452 | Ginnie Mae 2022-47 EB, 3.000%, 03/20/2037 | 2010284 | 0.2 |
| 761986 <sup>(4)</sup> | Ginnie Mae 2023-111 FC, 4.823%, (SOFR30A + 1.150%), 08/20/2053 | 768100 | 0.1 |
| 7283372 | Ginnie Mae 2023-111 ZL, 6.000%, 08/20/2053 | 7324787 | 0.7 |
| 848539 | Ginnie Mae 2023-112 MZ, 6.000%, 08/20/2053 | 873438 | 0.1 |
| 13287485 | Ginnie Mae 2023-116 QZ, 6.000%, 08/20/2053 | 13453764 | 1.3 |
| 5836035 | Ginnie Mae 2023-120 ZB, 6.000%, 08/20/2053 | 5985294 | 0.6 |
| 3627109 | Ginnie Mae 2023-133 AL, 6.500%, 09/20/2053 | 3836924 | 0.4 |
| 19075423 | Ginnie Mae 2023-149 EZ, 6.000%, 09/20/2063 | 19538357 | 1.8 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya GNMA Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 8124463 | Ginnie Mae 2023-149 HZ, 6.000%, 10/20/2053 | $8406939 | 0.8 |
| 1250802 | Ginnie Mae 2023-189 AY, 6.000%, 12/20/2053 | 1276163 | 0.1 |
| 2072464 | Ginnie Mae 2024-127 ZC, 5.500%, 12/20/2052 | 2070135 | 0.2 |
| 3934181 <sup>(4)</sup> | Ginnie Mae 2024-183 FB, 4.823%, (SOFR30A + 1.150%), 11/20/2054 | 3952343 | 0.4 |
| 8517348 | Ginnie Mae 2024-20 KZ, 6.000%, 02/20/2054 | 8583612 | 0.8 |
| 6726675 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6831666 | 0.6 |
| 6154000 | Ginnie Mae 2024-61 CY, 6.000%, 04/20/2054 | 6211158 | 0.6 |
| 2985761 | Ginnie Mae 2024-78 TZ, 5.500%, 05/20/2054 | 3028966 | 0.3 |
| 6897664 | Ginnie Mae 2025-1 DY, 5.000%, 01/20/2055 | 6664944 | 0.6 |
| 7555961 <sup>(4)</sup> | Ginnie Mae 2025-1 FJ, 4.973%, (SOFR30A + 1.300%), 01/20/2055 | 7604592 | 0.7 |
| 5555944 <sup>(4)</sup> | Ginnie Mae 2025-1 GF, 4.973%, (SOFR30A + 1.300%), 01/20/2055 | 5594391 | 0.5 |
| 17506993 <sup>(4)</sup> | Ginnie Mae 2025-101 LF, 4.923%, (SOFR30A + 1.250%), 06/20/2055 | 17617007 | 1.7 |
| 1000000 | Ginnie Mae 2025-12 MW, 5.500%, 01/20/2055 | 1001249 | 0.1 |
| 14217085 <sup>(4)</sup> | Ginnie Mae 2025-120 FG, 4.923%, (SOFR30A + 1.250%), 07/20/2055 | 14307102 | 1.3 |
| 7446971 | Ginnie Mae 2025-120 MZ, 5.000%, 07/20/2055 | 7221841 | 0.7 |
| 11779619 <sup>(4)</sup> | Ginnie Mae 2025-134 EF, 4.773%, (SOFR30A + 1.100%), 08/20/2055 | 11825579 | 1.1 |
| 9744159 <sup>(4)</sup> | Ginnie Mae 2025-135 FD, 4.873%, (SOFR30A + 1.200%), 08/20/2055 | 9797692 | 0.9 |
| 4899363 <sup>(4)</sup> | Ginnie Mae 2025-139 BF, 4.873%, (SOFR30A + 1.200%), 08/20/2055 | 4925659 | 0.5 |
| 6993849 <sup>(4)</sup> | Ginnie Mae 2025-156 YX, 4.769%, (SOFR30A + 1.100%), 09/20/2055 | 6986435 | 0.7 |
| 1372175 | Ginnie Mae 2025-2 QZ, 5.500%, 01/20/2055 | 1360770 | 0.1 |
| 9459332 <sup>(4)</sup> | Ginnie Mae 2025-209 BF, 4.673%, (SOFR30A + 1.000%), 12/20/2055 | 9478003 | 0.9 |
| 215709 | Ginnie Mae 2025-25 PZ, 7.000%, 02/20/2055 | 228488 | 0 |
| 2434781 <sup>(4)</sup> | Ginnie Mae 2025-27 FG, 4.873%, (SOFR30A + 1.200%), 02/20/2055 | 2448001 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 10745000 | Ginnie Mae 2025-6 EB, 5.500%, 01/20/2055 | $| 10894748 | 1 |
| 1328000 | Ginnie Mae 2025-72 LC, 5.000%, 05/20/2052 |  | 1305543 | 0.1 |
| 20862296 <sup>(4)</sup> | Ginnie Mae 2025-9 FE, 4.923%, (SOFR30A + 1.250%), 01/20/2055 |  | 20986727 | 2 |
| 9139609 <sup>(4)</sup> | Ginnie Mae 2025-90 FA, 4.973%, (SOFR30A + 1.300%), 05/20/2055 |  | 9204455 | 0.9 |
| 1038699 <sup>(4)</sup> | Seasoned Credit Risk Transfer Trust Series 2018-2 HA, 3.000%, 11/25/2057 |  | 987722 | 0.1 |
| 3354424 | Seasoned Credit Risk Transfer Trust Series 2019-1 M55D, 4.000%, 07/25/2058 |  | 3192547 | 0.3 |
| 1486856 | Seasoned Credit Risk Transfer Trust Series 2019-3 M55D, 4.000%, 10/25/2058 |  | 1404566 | 0.1 |
| 7955000 | Seasoned Loans Structured Transaction Series 2019-1 A2, 3.500%, 05/25/2029 |  | 7768855 | 0.7 |
| 2422933 | Seasoned Loans Structured Transaction Trust Series 2019-2 A1C, 2.750%, 09/25/2029 |  | 2322962 | 0.2 |
| 791923 | Vendee Mortgage Trust 2003-2 Z, 5.000%, 05/15/2033 |  | 796137 | 0.1 |
| 1921464 | Vendee Mortgage Trust 2011-2 DZ, 3.750%, 10/15/2041 |  | 1799479 | 0.2 |
| 16829779 <sup>(4)(5)</sup> | Vendee Mortgage Trust 2011-2 IO, 0.374%, 10/15/2041 |  | 270036 | 0 |
|  | Total Collateralized Mortgage Obligations <br> (Cost $700,798,225) |  | **662462347** | **61.9** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.6%** |
| 8594034 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K106 X1, 1.314%, 01/25/2030 |  | 372251 | 0 |
| 29350487 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K108 X1, 1.690%, 03/25/2030 |  | 1599640 | 0.2 |
| 17990785 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K110 X1, 1.637%, 04/25/2030 |  | 971073 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya GNMA Income Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2920251 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 0.917%, 09/25/2030 | $99266 | 0.0 |
| 16218885 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.503%, 05/25/2035 | 1629520 | 0.2 |
| 14603954 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1517 X1, 1.322%, 07/25/2035 | 1277655 | 0.1 |
| 33531270 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1519 X1, 0.587%, 12/25/2035 | 1407921 | 0.1 |
| 23803411 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K740 X1, 0.720%, 09/25/2027 | 194585 | 0.0 |
| 30725264 <sup>(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates KL06 XFX, 1.356%, 12/25/2029 | 1003373 | 0.1 |
| 33712899 <sup>(4)(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates KLU3 X1, 1.928%, 01/25/2031 | 2131630 | 0.2 |
| 187815 <sup>(4)</sup> | Ginnie Mae 2004-23 Z, 5.762%, 03/16/2044 | 187029 | 0.0 |
| 1743333 <sup>(4)(5)</sup> | Ginnie Mae 2006-67 IO, 0.809%, 11/16/2046 | 36 | 0.0 |
| 38362 <sup>(4)</sup> | Ginnie Mae 2007-52 Z, 4.350%, 01/16/2048 | 38266 | 0.0 |
| 428360 | Ginnie Mae 2008-39 Z, 4.500%, 02/16/2048 | 413131 | 0.1 |
| 208629 <sup>(4)(5)</sup> | Ginnie Mae 2008-45 IO, 0.865%, 02/16/2048 | 2155 | 0.0 |
| 50364 <sup>(4)(5)</sup> | Ginnie Mae 2010-123 IA, 2.050%, 10/16/2052 | 471 | 0.0 |
| 7044943 <sup>(4)(5)</sup> | Ginnie Mae 2011-47 IO, 0.190%, 01/16/2051 | 17371 | 0.0 |
| 319050 <sup>(4)(5)</sup> | Ginnie Mae 2017-9 IO, 0.557%, 01/16/2057 | 8967 | 0.0 |
| 2136214 <sup>(4)</sup> | Ginnie Mae 2018-114 Z, 3.100%, 04/16/2060 | 1599698 | 0.2 |
| 12028760 | Ginnie Mae 2018-116 Z, 3.000%, 06/16/2058 | 9985679 | 0.9 |
| 2147261 | Ginnie Mae 2018-169 Z, 3.000%, 04/16/2061 | 1415277 | 0.1 |
| 2136071 | Ginnie Mae 2019-17 Z, 3.000%, 12/16/2060 | 1329134 | 0.1 |
| 2846655 <sup>(4)</sup> | Ginnie Mae 2019-19 Z, 3.200%, 11/16/2060 | 2239954 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 3694528 | Ginnie Mae 2019-53 Z, 3.000%, 06/16/2061 | $| 2646446 | 0.3 |
| 5440982 | Ginnie Mae 2021-79 Z, 1.750%, 08/16/2063 |  | 2030664 | 0.2 |
| 2687860 | Ginnie Mae 2021-80 Z, 1.500%, 12/16/2062 |  | 1081242 | 0.1 |
| 2333712 | Ginnie Mae 2021-90 B, 1.750%, 05/16/2061 |  | 1203915 | 0.1 |
| 2391568 <sup>(4)(5)</sup> | Ginnie Mae 2023-139 IO, 0.613%, 05/16/2065 |  | 111275 | 0.0 |
| 3992433 <sup>(4)(5)</sup> | Ginnie Mae 2023-88 IO, 0.925%, 03/16/2065 |  | 265354 | 0.0 |
| 56990039 <sup>(4)(5)</sup> | Ginnie Mae 2024-82 AI, 0.742%, 10/16/2065 |  | 3524552 | 0.3 |
|  | Total Commercial Mortgage-Backed Securities <br> (Cost $51,375,470) |  | **38787530** | **3.6** |
| **ASSET-BACKED SECURITIES: 0.0%** | **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%** | **Other Asset-Backed Securities: 0.0%** |
| 364805 <sup>(4)</sup> | Fannie Mae Grantor Trust 2001-T9 A1, 3.903%, (TSFR1M + 0.334%), 09/25/2031 |  | 348003 | 0.0 |
| 21010 <sup>(4)</sup> | Fannie Mae Grantor Trust 2003-T4 2A6, 4.519%, 07/26/2033 |  | 20851 | 0.0 |
| 1206 <sup>(4)</sup> | Fannie Mae REMIC Trust 2001-W4 AF6, 5.110%, 01/25/2032 |  | 1206 | 0.0 |
| 1188 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W12 AF6, 5.066%, 02/25/2033 |  | 1182 | 0.0 |
| 1056 <sup>(4)</sup> | Fannie Mae REMIC Trust 2002-W2 AF6, 6.000%, 05/25/2032 |  | 1065 | 0.0 |
|  |  |  | **372307** | **0.0** |
|  | Total Asset-Backed Securities <br> (Cost $386,401) |  | **372307** | **0.0** |
|  | Total Long-Term Investments <br> (Cost $1,469,475,416) |  | **1391230050** | **130.0** |
| **Principal <br> Amount†** |  | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 0.3%** | **SHORT-TERM INVESTMENTS: 0.3%** | **SHORT-TERM INVESTMENTS: 0.3%** | **SHORT-TERM INVESTMENTS: 0.3%** | **SHORT-TERM INVESTMENTS: 0.3%** |
|  | **U.S. Treasury Obligations: 0.3%** | **U.S. Treasury Obligations: 0.3%** | **U.S. Treasury Obligations: 0.3%** | **U.S. Treasury Obligations: 0.3%** |
| 850000 <sup>(1)</sup> | United States Treasury Bill, 3.250%, 04/09/2026 |  | 849319 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya GNMA Income Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **U.S. Treasury Obligations (continued)** | **U.S. Treasury Obligations (continued)** | **U.S. Treasury Obligations (continued)** |
| 1725000 <sup>(1)</sup> | United States Treasury Bill, 3.600%, 05/07/2026 | $1718725 | 0.2 |
|  | Total U.S. Treasury Obligations <br> (Cost $2,568,032) | **2568044** | **0.3** |
|  | Total Short-Term Investments <br> (Cost $2,568,032) | **2568044** | **0.3** |
|  | **Total Investments in Securities <br> (Cost $1,472,043,448)** | $**1393798094** | **130.3** |
|  | **Liabilities in Excess of Other Assets** | **(323828282)** | **(30.3)** |
|  | **Net Assets** | $**1069969812** | **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 March 31, 2026. |
| <sup>(2)</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>(3)</sup> | Represents or includes a "to be announced" (TBA) security transaction. |
| <sup>(4)</sup> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <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: | Reference Rate Abbreviations: |
| H15T1Y | U.S. Treasury 1-Year Constant Maturity |
| SOFR30A | 30-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |

---

See Accompanying Notes to Financial Statements

<u>Voya GNMA Income Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

**Fair Value Measurements<sup>^</sup>** 

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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> March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| U.S. Government Agency Obligations | $— | $689607866 | $— | $689607866 |
| Collateralized Mortgage Obligations |  | 662462347 |  | 662462347 |
| Commercial Mortgage-Backed Securities |  | 38787530 |  | 38787530 |
| Asset-Backed Securities |  | 372307 |  | 372307 |
| Short-Term Investments |  | 2568044 |  | 2568044 |
| Total Investments, at fair value | $— | $1393798094 | $— | $1393798094 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 2174844 |  |  | 2174844 |
| Total Assets | $2174844 | $1393798094 | $— | $1395972938 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments** |  |  |  |  |
| Futures | $(448752) | $— | $— | $(448752) |
| Sales Commitments |  | (12748791) |  | (12748791) |
| Total Liabilities | $(448752) | $(12748791) | $— | $(13197543) |

---

---

| | |
|:---|:---|
| <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 March 31, 2026, the following futures contracts were outstanding for Voya GNMA Income 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 | 209 | 06/30/26 | $43356070 | $(310631) |
|  |  |  | $43356070 | $(310631) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | (1246) | 06/30/26 | (134791891) | 1701962 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (436) | 06/18/26 | (48416438) | (138121) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (60) | 06/18/26 | (6832500) | 186608 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (118) | 06/18/26 | (13394844) | 240365 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (14) | 06/18/26 | (1631875) | 45909 |
|  |  |  | $(205067548) | $2036723 |

---

The following sales commitments were held by the Voya GNMA Income Fund at March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Principal Amount** | **Description** | **Contractual <br> Settlement Date** | **Fair Value** |
| $(1500000) | Ginnie Mae, 4.000%, due 04/20/56 | 04/21/26 | $(1405333) |
| (2052000) | Ginnie Mae, 4.500%, due 04/20/53 | 04/21/26 | (1982670) |
| (3212000) | Uniform Mortgage-Backed Securities, 3.500%, due 04/01/56 | 04/13/26 | (2945014) |
| (6513000) | Uniform Mortgage-Backed Securities, 5.000%, due 05/01/56 | 05/13/26 | (6415774) |
|  | Total Sales Commitments Proceeds receivable $(12779511) |  | $(12748791) |

---

See Accompanying Notes to Financial Statements

<u>Voya GNMA Income Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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 March 31, 2026 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> | $2174844 |
| **Total Asset Derivatives** |  | $2174844 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $448752 |
| **Total Liability Derivatives** |  | $448752 |

---

\* 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 year ended March 31, 2026 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 | $(5481268) |
| **Total** | $(5481268) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $4784680 |
| **Total** | $4784680 |

---

At March 31, 2026, 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 $1,476,762,368. | Cost for U.S. federal income tax purposes was $1,476,762,368. |
| Net unrealized depreciation consisted of: | Net unrealized depreciation consisted of: |
| Gross Unrealized Appreciation | $6723533 |
| Gross Unrealized Depreciation | (87930995) |
| Net Unrealized Depreciation | $(81207462) |

---

See Accompanying Notes to Financial Statements

<u>Voya High Yield Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: 95.9%** | **CORPORATE BONDS/NOTES: 95.9%** | **CORPORATE BONDS/NOTES: 95.9%** | **CORPORATE BONDS/NOTES: 95.9%** |
|  | **Basic Materials: 4.5%** | **Basic Materials: 4.5%** | **Basic Materials: 4.5%** |
| 1925000 <sup>(1)</sup> | Arsenal AIC Parent LLC, 8.000%, 10/01/2030 | $2006653 | 0.9 |
| 1555000 | Celanese US Holdings LLC, 6.750%, 04/15/2033 | 1596352 | 0.8 |
| 1795000 <sup>(1)</sup> | Chemours Co., 7.875%, 03/15/2034 | 1796255 | 0.8 |
| 130000 <sup>(1)</sup> | Chemours Co., 8.000%, 01/15/2033 | 130807 | 0.1 |
| 2600000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 2542586 | 1.2 |
| 1615000 <sup>(1)</sup> | Commercial Metals Co., 6.000%, 12/15/2035 | 1593804 | 0.7 |
|  |  | **9666457** | **4.5** |
|  | **Communications: 17.8%** | **Communications: 17.8%** | **Communications: 17.8%** |
| 1635000 <sup>(1)</sup> | APLD ComputeCo 2 LLC, 6.750%, 03/15/2031 | 1624109 | 0.8 |
| 2125000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 6.375%, 09/01/2029 | 2132882 | 1 |
| 2090000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 7.375%, 03/01/2031 | 2128809 | 1 |
| 2085000 <sup>(1)</sup> | Cipher Compute LLC, 7.125%, 11/15/2030 | 2162727 | 1 |
| 2275000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 2272783 | 1.1 |
| 2360000 <sup>(1)</sup> | Frontier Communications Holdings LLC, 8.750%, 05/15/2030 | 2423345 | 1.1 |
| 3165000 <sup>(1)</sup> | Gen Digital, Inc., 6.250%, 04/01/2033 | 3079246 | 1.4 |
| 1480000 <sup>(1)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 1481282 | 0.7 |
| 2575000 <sup>(1)</sup> | Level 3 Financing, Inc., 8.500%, 01/15/2036 | 2689231 | 1.2 |
| 1620000 <sup>(1)</sup> | Nexstar Media, Inc., 7.250%, 04/15/2034 | 1626539 | 0.8 |
| 1165000 | Paramount Global, 6.875%, 04/30/2036 | 1022540 | 0.5 |
| 2710000 <sup>(1)</sup> | Sirius XM Radio LLC, 5.875%, 04/15/2032 | 2694717 | 1.3 |
| 2075000 <sup>(1)</sup> | Snap, Inc., 6.875%, 03/01/2033 | 1961062 | 0.9 |
| 1105000 <sup>(1)</sup> | SV RNO Property Owner 1 LLC, 5.875%, 03/01/2031 | 1092942 | 0.5 |
| 2490000 <sup>(1)</sup> | Versant Media Group, Inc., 7.250%, 01/30/2031 | 2550310 | 1.2 |
| 3645000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 7.750%, 04/15/2032 | 3498456 | 1.6 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 1045000 <sup>(1)</sup> | Wayfair LLC, 6.750%, 11/15/2032 | $| 1053770 | 0.5 |
| 2460000 <sup>(1)</sup> | WULF Compute LLC, 7.750%, 10/15/2030 |  | 2600995 | 1.2 |
|  |  |  | **38095745** | **17.8** |
|  | **Consumer, Cyclical: 15.6%** | **Consumer, Cyclical: 15.6%** | **Consumer, Cyclical: 15.6%** | **Consumer, Cyclical: 15.6%** |
| 2105000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 |  | 2140217 | 1 |
| 1080000 <sup>(1)</sup> | Acushnet Co., 5.625%, 12/01/2033 |  | 1074343 | 0.5 |
| 2605000 <sup>(1)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 |  | 2635739 | 1.2 |
| 2120000 <sup>(1)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 |  | 2148970 | 1 |
| 2020000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 |  | 1967708 | 0.9 |
| 1310000 | Bath & Body Works, Inc., 6.875%, 11/01/2035 |  | 1290116 | 0.6 |
| 2780000 <sup>(1)</sup> | Caesars Entertainment, Inc., 6.000%, 10/15/2032 |  | 2561016 | 1.2 |
| 1065000 <sup>(1)</sup> | Carnival Corp., 5.750%, 08/01/2032 |  | 1065985 | 0.5 |
| 1500000 <sup>(1)</sup> | Churchill Downs, Inc., 6.750%, 05/01/2031 |  | 1530076 | 0.7 |
| 2035000 <sup>(1)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 |  | 2052562 | 1 |
| 1090000 <sup>(1)</sup> | Garrett Motion Holdings, Inc. / Garrett LX I Sarl, 7.750%, 05/31/2032 |  | 1129333 | 0.5 |
| 1880000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 |  | 1839955 | 0.9 |
| 2510000 <sup>(1)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 |  | 2577444 | 1.2 |
| 2155000 <sup>(1)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 |  | 2140223 | 1 |
| 2105000 <sup>(1)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 |  | 2173939 | 1 |
| 1420000 <sup>(1)</sup> | Petco Health & Wellness Co., Inc., 8.250%, 02/01/2031 |  | 1419026 | 0.7 |
| 1145000 <sup>(1)</sup> | Starz Capital Holdings 1, Inc., 6.000%, 04/15/2030 |  | 1054831 | 0.5 |
| 1000000 <sup>(1)</sup> | Station Casinos LLC, 6.625%, 03/15/2032 |  | 1004650 | 0.5 |
| 1535000 <sup>(1)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 |  | 1530477 | 0.7 |
|  |  |  | **33336610** | **15.6** |

---

See Accompanying Notes to Financial Statements

<u>Voya High Yield Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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: 13.9%** | **Consumer, Non-cyclical: 13.9%** | **Consumer, Non-cyclical: 13.9%** |
| 1590000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | $1572836 | 0.7 |
| 1940000 <sup>(1)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 2008121 | 1 |
| 2070000 <sup>(1)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 2107504 | 1 |
| 1045000 <sup>(1)</sup> | Deluxe Corp., 8.000%, 06/01/2029 | 1052582 | 0.5 |
| 1855000 <sup>(1)</sup> | EquipmentShare. com, Inc., 8.625%, 05/15/2032 | 1938492 | 0.9 |
| 2085000 <sup>(1)</sup> | Genmab A/S/Genmab Finance LLC, 7.250%, 12/15/2033 | 2184342 | 1 |
| 1530000 <sup>(1)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 1590121 | 0.8 |
| 2460000 <sup>(1)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 2522956 | 1.2 |
| 1530000 <sup>(1)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 1562799 | 0.7 |
| 2045000 <sup>(1)</sup> | Performance Food Group, Inc., 6.125%, 09/15/2032 | 2051333 | 1 |
| 1035000 <sup>(1)</sup> | Post Holdings, Inc., 6.250%, 10/15/2034 | 1014451 | 0.5 |
| 2605000 <sup>(1)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 2568654 | 1.2 |
| 2160000 <sup>(1)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 2126607 | 1 |
| 2610000 <sup>(1)</sup> | Tenet Healthcare Corp., 6.000%, 11/15/2033 | 2642980 | 1.2 |
| 2600000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 2643131 | 1.2 |
|  |  | **29586909** | **13.9** |
|  | **Energy: 7.4%** | **Energy: 7.4%** | **Energy: 7.4%** |
| 2030000 <sup>(1)</sup> | CITGO Petroleum Corp., 8.375%, 01/15/2029 | 2097536 | 1 |
| 2420000 <sup>(1)</sup> | CNX Resources Corp., 7.375%, 01/15/2031 | 2488087 | 1.2 |
| 1020000 <sup>(1)</sup> | Northern Oil & Gas, Inc., 7.875%, 10/15/2033 | 1056014 | 0.5 |
| 2005000 <sup>(1)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 2086042 | 1 |
| 1595000 <sup>(1)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 1625825 | 0.7 |
| 1070000 <sup>(1)</sup> | SM Energy Co., 6.625%, 04/15/2034 | 1067833 | 0.5 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 1065000 <sup>(1)</sup> | SM Energy Co., 7.000%, 08/01/2032 | $| 1088269 | 0.5 |
| 1885000 <sup>(1)</sup> | Sunoco L.P., 6.250%, 07/01/2033 |  | 1894711 | 0.9 |
| 1045000 <sup>(1)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 |  | 1067528 | 0.5 |
| 1290000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 |  | 1367145 | 0.6 |
|  |  |  | **15838990** | **7.4** |
|  | **Financial: 11.4%** | **Financial: 11.4%** | **Financial: 11.4%** | **Financial: 11.4%** |
| 2065000 <sup>(1)</sup> | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp., 7.000%, 04/15/2030 |  | 2069545 | 1 |
| 1020000 <sup>(1)</sup> | Asurion LLC and Asurion Co-Issuer, Inc., 8.000%, 12/31/2032 |  | 1059054 | 0.5 |
| 1590000 <sup>(1)</sup> | Asurion LLC and Asurion Co-Issuer, Inc., 8.375%, 02/01/2034 |  | 1544800 | 0.7 |
| 4180000 <sup>(1)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 |  | 4169978 | 1.9 |
| 1150000 | Navient Corp., 7.875%, 06/15/2032 |  | 1026717 | 0.5 |
| 1060000 | OneMain Finance Corp., 6.750%, 09/15/2033 |  | 1017709 | 0.5 |
| 3275000 | OneMain Finance Corp., 7.125%, 09/15/2032 |  | 3229498 | 1.5 |
| 2875000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 |  | 2886109 | 1.3 |
| 1520000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 |  | 1455623 | 0.7 |
| 605000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.875%, 12/15/2029 |  | 619258 | 0.3 |
| 1070000 <sup>(1)</sup> | PRA Group, Inc., 8.375%, 02/01/2028 |  | 1078172 | 0.5 |
| 2095000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 |  | 2120127 | 1 |
| 2060000 <sup>(1)</sup> | Rocket Cos., Inc., 7.125%, 02/01/2032 |  | 2125030 | 1 |
|  |  |  | **24401620** | **11.4** |
|  | **Industrial: 17.3%** | **Industrial: 17.3%** | **Industrial: 17.3%** | **Industrial: 17.3%** |
| 2035000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 |  | 2072641 | 1 |
| 2160000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 |  | 2231554 | 1 |
| 2115000 <sup>(1)</sup> | Axon Enterprise, Inc., 6.250%, 03/15/2033 |  | 2160665 | 1 |

---

See Accompanying Notes to Financial Statements

<u>Voya High Yield Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 3100000 <sup>(1)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | $| 3205270 | 1.5 |
| 2440000 <sup>(1)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 |  | 2439784 | 1.1 |
| 2890000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 7.875%, 12/01/2030 |  | 3020007 | 1.4 |
| 1990000 <sup>(1)</sup> | GFL Environmental, Inc., 6.750%, 01/15/2031 |  | 2061794 | 1 |
| 2245000 <sup>(1)</sup> | Mauser Packaging Solutions Holding Co., 7.875%, 04/15/2030 |  | 2246605 | 1.1 |
| 1600000 <sup>(1)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 |  | 1534165 | 0.7 |
| 3015000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.750%, 03/01/2033 |  | 3064491 | 1.4 |
| 1495000 <sup>(1)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 |  | 1559288 | 0.7 |
| 2155000 <sup>(1)</sup> | TransDigm, Inc., 6.125%, 07/31/2034 |  | 2122228 | 1 |
| 2105000 <sup>(1)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 |  | 2134165 | 1 |
| 1430000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 |  | 1449664 | 0.7 |
| 1065000 <sup>(1)</sup> | WESCO Distribution, Inc., 5.500%, 04/15/2034 |  | 1051527 | 0.5 |
| 2080000 <sup>(1)</sup> | WESCO Distribution, Inc., 6.375%, 03/15/2033 |  | 2120814 | 1 |
| 2390000 <sup>(1)</sup> | XPO, Inc., 7.125%, 06/01/2031 |  | 2463418 | 1.2 |
|  |  |  | **36938080** | **17.3** |
|  | **Technology: 5.3%** | **Technology: 5.3%** | **Technology: 5.3%** | **Technology: 5.3%** |
| 1540000 <sup>(1)</sup> | CACI International, Inc., 6.375%, 06/15/2033 |  | 1568668 | 0.7 |
| 2140000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 |  | 2089828 | 1 |
| 1995000 <sup>(1)</sup> | McAfee Corp., 7.375%, 02/15/2030 |  | 1650436 | 0.8 |
| 2050000 <sup>(1)</sup> | OAK-Eagle Acquireco, Inc., 8.750%, 07/01/2034 |  | 2147471 | 1 |
| 2445000 <sup>(1)</sup> | Seagate Data Storage Technology Pte Ltd., 8.500%, 07/15/2031 |  | 2565419 | 1.2 |
| 1420000 <sup>(1)</sup> | UKG, Inc., 6.875%, 02/01/2031 |  | 1389002 | 0.6 |
|  |  |  | **11410824** | **5.3** |
|  | **Utilities: 2.7%** | **Utilities: 2.7%** | **Utilities: 2.7%** | **Utilities: 2.7%** |
| 3025000 <sup>(1)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 |  | 3051581 | 1.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2620000 <sup>(1)</sup> | Talen Energy Supply LLC, 6.500%, 02/01/2036 | $2639600 | 1.3 |
|  |  | **5691181** | **2.7** |
|  | Total Corporate Bonds/ Notes <br> (Cost $207,278,676) | **204966416** | **95.9** |
| **CONVERTIBLE BONDS/NOTES: 0.9%** | **CONVERTIBLE BONDS/NOTES: 0.9%** | **CONVERTIBLE BONDS/NOTES: 0.9%** | **CONVERTIBLE BONDS/NOTES: 0.9%** |
|  | **Consumer, Non-cyclical: 0.3%** | **Consumer, Non-cyclical: 0.3%** | **Consumer, Non-cyclical: 0.3%** |
| 825000 <sup>(1)(2)</sup> | Tandem Diabetes Care, Inc., 2.360%, 03/15/2032 | 717979 | 0.3 |
|  | **Financial: 0.2%** | **Financial: 0.2%** | **Financial: 0.2%** |
| 600000 <sup>(1)(2)</sup> | Coinbase Global, Inc., 3.780%, 10/01/2029 | 526800 | 0.2 |
|  | **Utilities: 0.4%** | **Utilities: 0.4%** | **Utilities: 0.4%** |
| 750000 <sup>(1)(2)</sup> | Ormat Technologies, Inc. B, (0.720)%, 03/15/2031 | 777187 | 0.4 |
|  | Total Convertible Bonds/Notes <br> (Cost $2,128,348) | **2021966** | **0.9** |
|  | Total Long-Term Investments <br> (Cost $209,407,024) | **206988382** | **96.8** |
| **Shares** |  | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 4.0%** | **SHORT-TERM INVESTMENTS: 4.0%** | **SHORT-TERM INVESTMENTS: 4.0%** | **SHORT-TERM INVESTMENTS: 4.0%** |
|  | **Mutual Funds: 4.0%** | **Mutual Funds: 4.0%** | **Mutual Funds: 4.0%** |
| 8514821 <sup>(3)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 3.550% <br> (Cost $8,514,821) | $**8514821** | **4.0** |
|  | Total Short-Term Investments <br> (Cost $8,514,821) | **8514821** | **4.0** |
|  | **Total Investments in Securities <br> (Cost $217,921,845)** | $**215503203** | **100.8** |
|  | **Liabilities in Excess of Other Assets** | **(1794097)** | **(0.8)** |
|  | **Net Assets** | $**213709106** | **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> | Represents a zero coupon bond. Rate shown reflects the effective yield as of March 31, 2026. |
| <sup>(3)</sup> | Rate shown is the 7-day yield as of March 31, 2026. |

---

See Accompanying Notes to Financial Statements

<u>Voya High Yield Bond Fund</u> <u> PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

**Fair Value Measurements<sup>^</sup>** 

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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> March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $204966416 | $— | $204966416 |
| Convertible Bonds/Notes |  | 2021966 |  | 2021966 |
| Short-Term Investments | 8514821 |  |  | 8514821 |
| Total Investments, at fair value | $8514821 | $206988382 | $— | $215503203 |

---

<sup>^</sup> See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

The effect of derivative instruments on the Fund's Statement of Operations for the year ended March 31, 2026 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** 

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Swaps** |
| Credit contracts | $310624 |
| **Total** | $310624 |

---

At March 31, 2026, 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 $218,199,965. | Cost for U.S. federal income tax purposes was $218,199,965. |
| Net unrealized depreciation consisted of: | Net unrealized depreciation consisted of: |
| Gross Unrealized Appreciation | $816526 |
| Gross Unrealized Depreciation | (3513288) |
| Net Unrealized Depreciation | $(2696762) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: 26.8%** | **CORPORATE BONDS/NOTES: 26.8%** | **CORPORATE BONDS/NOTES: 26.8%** | **CORPORATE BONDS/NOTES: 26.8%** |
|  | **Basic Materials: 0.7%** |  |  |
| 1748000 <sup>(1)</sup><sup>(2)</sup> | Anglo American Capital PLC, 5.500%, 05/02/2033 | $1774605 | 0.0 |
| 4750000 <sup>(1)</sup> | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | 4545132 | 0.1 |
| 3578000 | BHP Billiton Finance USA Ltd., 5.125%, 02/21/2032 | 3655053 | 0.0 |
| 2751000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2030 | 2832514 | 0.0 |
| 1935000 <sup>(2)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 1924056 | 0.0 |
| 1740000 <sup>(2)</sup> | Chemours Co., 7.875%, 03/15/2034 | 1741217 | 0.0 |
| 3920000 <sup>(2)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 3833437 | 0.1 |
| 2775000 <sup>(2)</sup> | Commercial Metals Co., 6.000%, 12/15/2035 | 2738579 | 0.0 |
| 5200000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 5337124 | 0.1 |
| 8425000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 | 8784158 | 0.1 |
| 3250000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 3430537 | 0.0 |
| 3889000 <sup>(2)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 | 4076528 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(2)</sup> | Inversiones CMPC SA, 6.125%, 02/26/2034 | 1491990 | 0.0 |
| 1825000 <sup>(2)</sup> | NOVA Chemicals Corp., 7.000%, 12/01/2031 | 1933155 | 0.0 |
| 3455000 <sup>(2)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 3267134 | 0.0 |
| 4456000 <sup>(1)</sup> | Nucor Corp., 5.100%, 06/01/2035 | 4504433 | 0.1 |
| 303000 | Nutrien Ltd., 5.875%, 12/01/2036 | 312281 | 0.0 |
| 6800000 <sup>(2)</sup> | OCP SA, 6.750%, 05/02/2034 | 7101614 | 0.1 |
| 2990000 <sup>(1)</sup><sup>(2)</sup> | Olin Corp., 6.625%, 04/01/2033 | 2928633 | 0.0 |
| 3629000 | Rio Tinto Finance USA PLC, 5.000%, 03/14/2032 | 3704669 | 0.0 |
| 3525000 <sup>(2)</sup><sup>(3)</sup> | Sociedad Quimica y Minera de Chile SA, 5.625%, 04/22/2056 | 3446569 | 0.0 |
| 2840000 | Steel Dynamics, Inc., 1.650%, 10/15/2027 | 2726343 | 0.0 |
|  |  | **76089761** | **0.7** |
|  | **Communications: 2.9%** |  |  |
| 9053000 | Alphabet, Inc., 4.400%, 02/15/2033 | 8942868 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 4857000 | Alphabet, Inc., 4.700%, 11/15/2035 | $4800520 | 0.1 |
| 4120000 <sup>(1)</sup> | Alphabet, Inc., 4.800%, 02/15/2036 | 4103949 | 0.0 |
| 1371000 | Alphabet, Inc., 5.300%, 05/15/2065 | 1270102 | 0.0 |
| 4857000 | Alphabet, Inc., 5.450%, 11/15/2055 | 4705938 | 0.1 |
| 3081000 | Alphabet, Inc., 5.700%, 11/15/2075 | 2988430 | 0.0 |
| 4229000 | Alphabet, Inc., 5.750%, 02/15/2066 | 4191400 | 0.1 |
| 2570000 | Amazon.com, Inc., 2.100%, 05/12/2031 | 2304062 | 0.0 |
| 6129000 | Amazon.com, Inc., 4.250%, 03/13/2031 | 6085211 | 0.1 |
| 3451000 | Amazon.com, Inc., 4.350%, 03/20/2033 | 3389584 | 0.0 |
| 9059000 | Amazon.com, Inc., 4.550%, 03/13/2033 | 8974455 | 0.1 |
| 4628000 <sup>(1)</sup> | Amazon.com, Inc., 4.650%, 11/20/2035 | 4539718 | 0.1 |
| 3081000 | Amazon.com, Inc., 5.450%, 11/20/2055 | 2945454 | 0.0 |
| 6644000 | Amazon.com, Inc., 5.550%, 11/20/2065 | 6282361 | 0.1 |
| 6040000 | Amazon.com, Inc., 5.650%, 03/13/2046 | 6022675 | 0.1 |
| 4141000 | Amazon.com, Inc., 5.800%, 03/13/2056 | 4140596 | 0.0 |
| 4406000 | Amazon.com, Inc., 6.050%, 03/13/2076 | 4383600 | 0.1 |
| 3737000 | AppLovin Corp., 5.125%, 12/01/2029 | 3759542 | 0.0 |
| 5832000 | AppLovin Corp., 5.375%, 12/01/2031 | 5891334 | 0.1 |
| 2280000 <sup>(1)</sup><sup>(2)</sup> | Arches Buyer, Inc., 4.250%, 06/01/2028 | 2204426 | 0.0 |
| 1032000 | AT&T, Inc., 3.800%, 12/01/2057 | 698395 | 0.0 |
| 388000 | AT&T, Inc., 4.500%, 05/15/2035 | 367956 | 0.0 |
| 3038000 | AT&T, Inc., 4.550%, 11/01/2032 | 2987291 | 0.0 |
| 6059000 | AT&T, Inc., 4.900%, 11/01/2035 | 5913104 | 0.1 |
| 2079000 | AT&T, Inc., 4.900%, 08/15/2037 | 2001592 | 0.0 |
| 3031000 | AT&T, Inc., 6.050%, 08/15/2056 | 2987289 | 0.0 |
| 3065000 <sup>(2)</sup> | Beignet Investor LLC, 6.581%, 05/30/2049 | 3153672 | 0.0 |
| 5645000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 5047677 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1518000 <sup>(1)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 2.800%, 04/01/2031 | $1363241 | 0.0 |
| 4554000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.900%, 06/01/2052 | 2901878 | 0.0 |
| 986000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061 | 633842 | 0.0 |
| 1829000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.800%, 03/01/2050 | 1353199 | 0.0 |
| 2686000 <sup>(1)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.250%, 04/01/2053 | 2108469 | 0.0 |
| 4993000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.100%, 06/01/2029 | 5173039 | 0.1 |
| 2649000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.550%, 06/01/2034 | 2751644 | 0.0 |
| 6043000 <sup>(1)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.700%, 12/01/2055 | 5779384 | 0.1 |
| 3533000 <sup>(1)</sup> | Cisco Systems, Inc., 4.950%, 02/26/2031 | 3620675 | 0.0 |
| 5112000 | Cisco Systems, Inc., 4.950%, 02/24/2032 | 5218477 | 0.1 |
| 1823000 <sup>(1)</sup> | Comcast Corp., 1.500%, 02/15/2031 | 1580376 | 0.0 |
| 1698000 | Comcast Corp., 1.950%, 01/15/2031 | 1506864 | 0.0 |
| 3843000 | Comcast Corp., 2.650%, 02/01/2030 | 3599821 | 0.0 |
| 1707000 <sup>(1)</sup> | Comcast Corp., 3.200%, 07/15/2036 | 1431922 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1805000 | Comcast Corp., 3.900%, 03/01/2038 | $1551089 | 0.0 |
| 1301000 | Comcast Corp., 5.300%, 06/01/2034 | 1321107 | 0.0 |
| 4330000 <sup>(2)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 4325780 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(2)</sup> | GCI LLC, 4.750%, 10/15/2028 | 2421413 | 0.0 |
| 2530000 <sup>(1)</sup><sup>(2)</sup> | Gray Media, Inc., 7.250%, 08/15/2033 | 2551343 | 0.0 |
| 1215000 <sup>(2)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 1238220 | 0.0 |
| 3730000 <sup>(2)</sup> | Match Group Holdings II LLC, 3.625%, 10/01/2031 | 3320727 | 0.0 |
| 4759000 | Meta Platforms, Inc., 4.200%, 11/15/2030 | 4713920 | 0.1 |
| 3524000 | Meta Platforms, Inc., 4.600%, 11/15/2032 | 3490619 | 0.0 |
| 4704000 | Meta Platforms, Inc., 4.875%, 11/15/2035 | 4616691 | 0.1 |
| 3952000 | Meta Platforms, Inc., 5.400%, 08/15/2054 | 3582355 | 0.0 |
| 6147000 | Meta Platforms, Inc., 5.500%, 11/15/2045 | 5820942 | 0.1 |
| 4144000 | Meta Platforms, Inc., 5.550%, 08/15/2064 | 3727864 | 0.0 |
| 3693000 | Meta Platforms, Inc., 5.625%, 11/15/2055 | 3464255 | 0.0 |
| 3693000 | Meta Platforms, Inc., 5.750%, 11/15/2065 | 3432766 | 0.0 |
| 2203000 | Motorola Solutions, Inc., 5.000%, 04/15/2029 | 2233305 | 0.0 |
| 2808000 <sup>(1)</sup> | Motorola Solutions, Inc., 5.550%, 08/15/2035 | 2871897 | 0.0 |
| 1960000 <sup>(2)</sup> | NBN Co. Ltd., 1.450%, 05/05/2026 | 1954752 | 0.0 |
| 3097000 <sup>(1)</sup><sup>(2)</sup> | NBN Co. Ltd., 1.625%, 01/08/2027 | 3035612 | 0.0 |
| 1369000 <sup>(1)</sup><sup>(2)</sup> | NBN Co. Ltd., 2.500%, 01/08/2032 | 1226249 | 0.0 |
| 1962000 <sup>(1)</sup><sup>(2)</sup> | NBN Co. Ltd., 6.000%, 10/06/2033 | 2114627 | 0.0 |
| 3556000 <sup>(1)</sup> | Netflix, Inc., 5.875%, 11/15/2028 | 3700280 | 0.0 |
| 6042000 | Omnicom Group, Inc., 5.000%, 06/02/2033 | 5903492 | 0.1 |
| 2200000 <sup>(1)</sup> | Omnicom Group, Inc., 5.300%, 06/02/2036 | 2127210 | 0.0 |
| 2180000 <sup>(1)</sup><sup>(2)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 2104629 | 0.0 |
| 2405000 <sup>(1)</sup><sup>(2)</sup> | Sirius XM Radio LLC, 5.875%, 04/15/2032 | 2391437 | 0.0 |
| 3190000 <sup>(1)</sup><sup>(2)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 3003014 | 0.0 |
| 3371000 <sup>(2)</sup> | SoftBank Corp., 4.699%, 07/09/2030 | 3352478 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 6863000 | Sprint Capital Corp., 6.875%, 11/15/2028 | $7257719 | 0.1 |
| 4592000 | Sprint Capital Corp., 8.750%, 03/15/2032 | 5462524 | 0.1 |
| 1970000 <sup>(1)</sup><sup>(2)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 1877228 | 0.0 |
| 1865000 <sup>(2)</sup> | SV RNO Property Owner 1 LLC, 5.875%, 03/01/2031 | 1844648 | 0.0 |
| 1646000 | Time Warner Cable LLC, 5.500%, 09/01/2041 | 1419975 | 0.0 |
| 589000 <sup>(1)</sup> | Time Warner Cable LLC, 5.875%, 11/15/2040 | 534266 | 0.0 |
| 1093000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | 1048800 | 0.0 |
| 1735000 | T-Mobile USA, Inc., 2.625%, 02/15/2029 | 1650534 | 0.0 |
| 217000 | T-Mobile USA, Inc., 3.000%, 02/15/2041 | 158759 | 0.0 |
| 852000 | T-Mobile USA, Inc., 3.375%, 04/15/2029 | 825883 | 0.0 |
| 6272000 | T-Mobile USA, Inc., 3.500%, 04/15/2031 | 5933986 | 0.1 |
| 5024000 | T-Mobile USA, Inc., 3.875%, 04/15/2030 | 4894090 | 0.1 |
| 1214000 <sup>(1)</sup> | T-Mobile USA, Inc., 5.000%, 02/15/2036 | 1196148 | 0.0 |
| 3404000 <sup>(1)</sup> | T-Mobile USA, Inc., 5.300%, 05/15/2035 | 3433608 | 0.0 |
| 3012000 | T-Mobile USA, Inc., 5.850%, 02/15/2056 | 2925116 | 0.0 |
| 2951000 | Uber Technologies, Inc., 4.300%, 01/15/2030 | 2927628 | 0.0 |
| 2232000 <sup>(1)</sup><sup>(2)</sup> | Uber Technologies, Inc., 4.500%, 08/15/2029 | 2214285 | 0.0 |
| 6533000 <sup>(1)</sup> | Uber Technologies, Inc., 5.350%, 09/15/2054 | 6019024 | 0.1 |
| 272000 | Verizon Communications, Inc., 1.750%, 01/20/2031 | 238554 | 0.0 |
| 2307000 | Verizon Communications, Inc., 2.355%, 03/15/2032 | 2014507 | 0.0 |
| 275000 | Verizon Communications, Inc., 2.550%, 03/21/2031 | 249728 | 0.0 |
| 813000 | Verizon Communications, Inc., 4.400%, 11/01/2034 | 774316 | 0.0 |
| 2778000 | Verizon Communications, Inc., 4.812%, 03/15/2039 | 2591273 | 0.0 |
| 4240000 <sup>(1)</sup> | Verizon Communications, Inc., 5.000%, 01/15/2036 | 4153781 | 0.1 |
| 6518000 | Verizon Communications, Inc., 5.875%, 11/30/2055 | 6344511 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 5005000 | Verizon Communications, Inc., 6.000%, 11/30/2065 | $4853672 | 0.1 |
| 3130000 <sup>(1)</sup><sup>(2)</sup> | Versant Media Group, Inc., 7.250%, 01/30/2031 | 3205812 | 0.0 |
| 2500000 <sup>(1)</sup><sup>(2)</sup> | Viasat, Inc., 5.625%, 04/15/2027 | 2485062 | 0.0 |
| 3700000 <sup>(2)</sup> | Vmed O2 UK Financing I PLC, 6.750%, 01/15/2033 | 3310724 | 0.0 |
| 2430000 <sup>(1)</sup><sup>(2)</sup> | WULF Compute LLC, 7.750%, 10/15/2030 | 2569275 | 0.0 |
|  |  | **324119541** | **2.9** |
|  | **Consumer, Cyclical: 2.1%** |  |  |
| 2670000 <sup>(2)</sup> | 1011778 BC ULC / New Red Finance, Inc., 4.000%, 10/15/2030 | 2511002 | 0.0 |
| 3335000 <sup>(1)</sup><sup>(2)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 3380573 | 0.0 |
| 254161 | American Airlines Pass Through Trust 2015-2, AA, 3.600%, 03/22/2029 | 251276 | 0.0 |
| 1510839 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | 1490869 | 0.0 |
| 2288318 | American Airlines Pass Through Trust 2016-2, AA, 3.200%, 12/15/2029 | 2231561 | 0.0 |
| 4374234 | American Airlines Pass Through Trust 2017-2, AA, 3.350%, 04/15/2031 | 4233854 | 0.1 |
| 3185000 <sup>(1)</sup><sup>(2)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 3102550 | 0.0 |
| 3589000 | American Honda Finance Corp., 4.700%, 01/12/2028 | 3596892 | 0.0 |
| 1938000 | American Honda Finance Corp., 5.650%, 11/15/2028 | 1985580 | 0.0 |
| 4424000 | American Honda Finance Corp., GMTN, 4.850%, 10/23/2031 | 4386929 | 0.1 |
| 1285000 | AutoZone, Inc., 6.250%, 11/01/2028 | 1341985 | 0.0 |
| 4325000 <sup>(1)</sup> | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 4152352 | 0.1 |
| 2123000 <sup>(1)</sup><sup>(2)</sup> | BMW US Capital LLC, 5.050%, 03/21/2030 | 2147284 | 0.0 |
| 1365000 <sup>(1)</sup> | BorgWarner, Inc., 5.400%, 08/15/2034 | 1382942 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 2630000 <sup>(1)</sup><sup>(2)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | $2704710 | 0.0 |
| 784645 | Delta Air Lines Pass Through Trust 2015-1, AA, 3.625%, 01/30/2029 | 775599 | 0.0 |
| 559337 <sup>(2)</sup> | Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.750%, 10/20/2028 | 558730 | 0.0 |
| 2930000 | Ford Motor Co., 3.250%, 02/12/2032 | 2545925 | 0.0 |
| 5242000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 5175703 | 0.1 |
| 3314000 | Ford Motor Credit Co. LLC, 5.113%, 05/03/2029 | 3283615 | 0.0 |
| 3014000 <sup>(1)</sup> | General Motors Co., 6.250%, 04/15/2035 | 3135839 | 0.0 |
| 655000 <sup>(1)</sup> | General Motors Co., 6.250%, 10/02/2043 | 643836 | 0.0 |
| 4412000 | General Motors Financial Co., Inc., 2.350%, 01/08/2031 | 3932152 | 0.0 |
| 4723000 <sup>(1)</sup> | General Motors Financial Co., Inc., 4.900%, 10/06/2029 | 4747710 | 0.1 |
| 7761000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 7941770 | 0.1 |
| 4061000 <sup>(1)</sup> | General Motors Financial Co., Inc., 5.900%, 01/07/2035 | 4135544 | 0.1 |
| 1141000 | General Motors Financial Co., Inc., 6.100%, 01/07/2034 | 1185702 | 0.0 |
| 3320000 <sup>(1)</sup> | General Motors Financial Co., Inc., 6.150%, 07/15/2035 | 3434817 | 0.0 |
| 6679000 | Honda Motor Co. Ltd., 4.688%, 07/08/2030 | 6630870 | 0.1 |
| 3567000 <sup>(1)</sup> | Honda Motor Co. Ltd., 5.337%, 07/08/2035 | 3530484 | 0.0 |
| 1421000 | Hyatt Hotels Corp., 5.250%, 06/30/2029 | 1443592 | 0.0 |
| 3580000 <sup>(1)</sup><sup>(2)</sup> | Hyundai Capital America, 5.150%, 03/27/2030 | 3619567 | 0.0 |
| 3308000 <sup>(2)</sup> | Hyundai Capital America, 5.300%, 06/24/2029 | 3360565 | 0.0 |
| 5177000 <sup>(1)</sup><sup>(2)</sup> | Hyundai Capital America, 5.400%, 03/29/2032 | 5266803 | 0.1 |
| 2717000 <sup>(2)</sup> | Hyundai Capital America, 5.680%, 06/26/2028 | 2770953 | 0.0 |
| 7036000 <sup>(2)</sup> | Hyundai Capital America, 6.100%, 09/21/2028 | 7267614 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3094000 <sup>(2)</sup> | Hyundai Capital America, 6.500%, 01/16/2029 | $3230812 | 0.0 |
| 4680000 <sup>(2)</sup> | LG Energy Solution Ltd., 5.250%, 04/02/2031 | 4670266 | 0.1 |
| 3017000 <sup>(2)</sup> | LG Energy Solution Ltd., 5.875%, 04/02/2036 | 2996635 | 0.0 |
| 2775000 <sup>(1)</sup><sup>(2)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 2720804 | 0.0 |
| 157000 | Lowe's Cos., Inc., 4.450%, 04/01/2062 | 118934 | 0.0 |
| 6059000 | Lowe's Cos., Inc., 4.500%, 10/15/2032 | 5956865 | 0.1 |
| 248000 | Lowe's Cos., Inc., 5.850%, 04/01/2063 | 237596 | 0.0 |
| 4665000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 3981981 | 0.0 |
| 6059000 <sup>(1)</sup> | Marriott International, Inc., 4.500%, 10/15/2031 | 5990818 | 0.1 |
| 5414000 <sup>(1)</sup> | Marriott International, Inc., 5.250%, 10/15/2035 | 5388263 | 0.1 |
| 2083000 | Marriott International, Inc., 5.350%, 03/15/2035 | 2097363 | 0.0 |
| 2515000 | Marriott International, Inc. HH, 2.850%, 04/15/2031 | 2303720 | 0.0 |
| 3524000 <sup>(1)</sup><sup>(2)</sup> | Mercedes-Benz Finance North America LLC, 4.800%, 08/01/2029 | 3556744 | 0.0 |
| 4165000 <sup>(1)</sup> | MGM Resorts International, 6.500%, 04/15/2032 | 4201777 | 0.1 |
| 2200000 <sup>(1)</sup><sup>(2)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 2184914 | 0.0 |
| 1200000 <sup>(1)</sup> | Newell Brands, Inc., 6.625%, 05/15/2032 | 1149635 | 0.0 |
| 755000 <sup>(2)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 779726 | 0.0 |
| 3295000 <sup>(1)</sup> | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 04/01/2032 | 3374914 | 0.0 |
| 2720000 <sup>(2)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 2342334 | 0.0 |
| 1815000 <sup>(1)</sup><sup>(2)</sup> | Somnigroup International, Inc., 3.875%, 10/15/2031 | 1651666 | 0.0 |
| 1310000 <sup>(1)</sup><sup>(2)</sup> | Somnigroup International, Inc., 4.000%, 04/15/2029 | 1260689 | 0.0 |
| 3600000 <sup>(1)</sup><sup>(2)</sup> | Station Casinos LLC, 6.625%, 03/15/2032 | 3616740 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 6156000 <sup>(1)</sup> | Toyota Motor Corp., 4.450%, 06/30/2030 | $6163593 | 0.1 |
| 2828000 <sup>(1)</sup> | Toyota Motor Credit Corp., 4.550%, 08/09/2029 | 2845683 | 0.0 |
| 4870000 | Toyota Motor Credit Corp., 4.800%, 05/15/2030 | 4925901 | 0.1 |
| 2087000 | Toyota Motor Credit Corp., 5.550%, 11/20/2030 | 2173962 | 0.0 |
| 3517000 | Toyota Motor Credit Corp., MTN, 4.350%, 10/08/2027 | 3528778 | 0.0 |
| 463012 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 471056 | 0.0 |
| 3817569 | United Airlines Pass Through Trust 2014-2, A, 3.750%, 03/03/2028 | 3809104 | 0.0 |
| 2905079 | United Airlines Pass Through Trust 2016-2, AA, 2.875%, 04/07/2030 | 2805261 | 0.0 |
| 2243000 <sup>(2)</sup> | United Airlines, Inc., 4.625%, 04/15/2029 | 2202130 | 0.0 |
| 2315000 <sup>(1)</sup><sup>(2)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 2207741 | 0.0 |
| 3153000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.550%, 09/11/2028 | 3145611 | 0.0 |
| 3043000 <sup>(1)</sup><sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.850%, 09/11/2030 | 3016399 | 0.0 |
| 6622000 <sup>(1)</sup><sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.250%, 03/22/2029 | 6702737 | 0.1 |
| 6557000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 | 6613002 | 0.1 |
| 5296000 <sup>(1)</sup><sup>(2)</sup> | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 | 5601955 | 0.1 |
| 2065000 <sup>(2)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 | 2145202 | 0.0 |
| 4300000 <sup>(1)</sup><sup>(2)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 4259642 | 0.1 |
|  |  | **240718702** | **2.1** |
|  | **Consumer, Non-cyclical: 3.6%** |  |  |
| 4835000 | Abbott Laboratories, 5.500%, 03/15/2056 | 4744278 | 0.1 |
| 2409000 | Abbott Laboratories, 5.600%, 03/15/2066 | 2350003 | 0.0 |
| 8232000 | AbbVie, Inc., 3.200%, 11/21/2029 | 7937533 | 0.1 |
| 2997000 | AbbVie, Inc., 4.500%, 05/14/2035 | 2899721 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1823000 | AbbVie, Inc., 4.650%, 03/15/2028 | $1840203 | 0.0 |
| 3458000 | AbbVie, Inc., 5.600%, 03/15/2055 | 3409576 | 0.0 |
| 6040000 <sup>(1)</sup> | AbbVie, Inc., 5.650%, 03/15/2066 | 5886644 | 0.1 |
| 1398000 | Aetna, Inc., 6.625%, 06/15/2036 | 1507400 | 0.0 |
| 3255000 <sup>(1)</sup><sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.750%, 03/31/2034 | 3188586 | 0.0 |
| 2145000 <sup>(1)</sup><sup>(2)</sup> | Allied Universal Holdco LLC, 7.875%, 02/15/2031 | 2213393 | 0.0 |
| 2697000 | Altria Group, Inc., 6.200%, 11/01/2028 | 2813985 | 0.0 |
| 5201000 <sup>(1)</sup> | Astrazeneca Finance LLC, 4.900%, 02/26/2031 | 5314070 | 0.1 |
| 3932000 <sup>(1)</sup> | Automatic Data Processing, Inc., 4.750%, 05/08/2032 | 3973889 | 0.1 |
| 268000 | BAT Capital Corp., 3.557%, 08/15/2027 | 265146 | 0.0 |
| 3783000 | BAT Capital Corp., 4.390%, 08/15/2037 | 3439138 | 0.0 |
| 1485000 | BAT Capital Corp., 5.834%, 02/20/2031 | 1554489 | 0.0 |
| 736000 | BAT Capital Corp., 7.079%, 08/02/2043 | 809617 | 0.0 |
| 3844000 <sup>(1)</sup> | Becton Dickinson & Co., 4.693%, 02/13/2028 | 3864031 | 0.0 |
| 3135000 <sup>(1)</sup><sup>(2)</sup> | Brink's Co., 6.750%, 06/15/2032 | 3176228 | 0.0 |
| 2163000 | Bristol-Myers Squibb Co., 5.100%, 02/22/2031 | 2223981 | 0.0 |
| 3479000 <sup>(1)</sup> | Bristol-Myers Squibb Co., 5.550%, 02/22/2054 | 3352271 | 0.0 |
| 3084000 <sup>(1)</sup> | Campbell Soup Co., 5.200%, 03/21/2029 | 3114056 | 0.0 |
| 3981000 | Cardinal Health, Inc., 4.700%, 11/15/2026 | 3988595 | 0.1 |
| 628000 | Cardinal Health, Inc., 5.450%, 02/15/2034 | 641568 | 0.0 |
| 2231000 <sup>(1)</sup><sup>(2)</sup> | Cargill, Inc., 1.700%, 02/02/2031 | 1962638 | 0.0 |
| 1909000 <sup>(2)</sup> | Cargill, Inc., 2.125%, 04/23/2030 | 1741548 | 0.0 |
| 2328000 | Cencora, Inc., 5.125%, 02/15/2034 | 2348303 | 0.0 |
| 12424000 | Centene Corp., 3.000%, 10/15/2030 | 10895218 | 0.1 |
| 2789000 | Centene Corp., 4.625%, 12/15/2029 | 2649375 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | $2197475 | 0.0 |
| 4706000 | Cigna Group, 2.375%, 03/15/2031 | 4229471 | 0.1 |
| 4360000 | Cigna Group, 4.800%, 08/15/2038 | 4101494 | 0.1 |
| 7917000 | Cigna Group, 5.250%, 01/15/2036 | 7930209 | 0.1 |
| 7580000 <sup>(1)</sup> | Cigna Group, 5.600%, 02/15/2054 | 7183196 | 0.1 |
| 3095000 | Coca-Cola Consolidated, Inc., 5.250%, 06/01/2029 | 3164242 | 0.0 |
| 1176000 | CVS Health Corp., 4.125%, 04/01/2040 | 982479 | 0.0 |
| 2343000 | CVS Health Corp., 4.780%, 03/25/2038 | 2160428 | 0.0 |
| 478000 | CVS Health Corp., 5.050%, 03/25/2048 | 410395 | 0.0 |
| 1664000 | CVS Health Corp., 5.125%, 02/21/2030 | 1687819 | 0.0 |
| 4617000 <sup>(1)</sup> | CVS Health Corp., 5.450%, 09/15/2035 | 4636615 | 0.1 |
| 217000 <sup>(1)</sup> | CVS Health Corp., 6.000%, 06/01/2063 | 206055 | 0.0 |
| 415000 | CVS Health Corp., 6.250%, 09/15/2065 | 405783 | 0.0 |
| 4095000 <sup>(2)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | 3939800 | 0.1 |
| 4906000 <sup>(2)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 | 4947548 | 0.1 |
| 3038000 | Elevance Health, Inc., 4.600%, 09/15/2032 | 2992954 | 0.0 |
| 3605000 | Elevance Health, Inc., 4.950%, 11/01/2031 | 3628663 | 0.0 |
| 1618000 | Elevance Health, Inc., 5.200%, 02/15/2035 | 1616014 | 0.0 |
| 2840000 <sup>(1)</sup> | Eli Lilly & Co., 5.500%, 02/12/2055 | 2785725 | 0.0 |
| 2315000 <sup>(1)</sup><sup>(2)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 2143786 | 0.0 |
| 4264000 <sup>(2)</sup> | EMD Finance LLC, 4.625%, 10/15/2032 | 4204924 | 0.1 |
| 2414000 | Equifax, Inc., 3.100%, 05/15/2030 | 2262169 | 0.0 |
| 1945000 <sup>(2)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 1981747 | 0.0 |
| 3265000 <sup>(1)</sup><sup>(2)</sup> | Genmab A/S/Genmab Finance LLC, 7.250%, 12/15/2033 | 3420564 | 0.0 |
| 3629000 <sup>(1)</sup> | GlaxoSmithKline Capital, Inc., 4.875%, 04/15/2035 | 3616333 | 0.0 |
| 976000 | HCA, Inc., 2.375%, 07/15/2031 | 862913 | 0.0 |
| 5000000 | HCA, Inc., 3.500%, 09/01/2030 | 4749745 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 7469000 | HCA, Inc., 4.125%, 06/15/2029 | $7367427 | 0.1 |
| 1082000 | HCA, Inc., 4.375%, 03/15/2042 | 910893 | 0.0 |
| 4673000 | HCA, Inc., 4.500%, 02/15/2027 | 4673513 | 0.1 |
| 2134000 | HCA, Inc., 5.125%, 06/15/2039 | 2012269 | 0.0 |
| 2938000 | HCA, Inc., 5.450%, 04/01/2031 | 3012078 | 0.0 |
| 440000 <sup>(1)</sup> | HCA, Inc., 6.100%, 04/01/2064 | 425172 | 0.0 |
| 4409000 <sup>(2)</sup> | Health Care Service Corp. A Mutual Legal Reserve Co., 5.200%, 06/15/2029 | 4473095 | 0.1 |
| 2025000 <sup>(1)</sup><sup>(2)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 2076824 | 0.0 |
| 6612000 | Hershey Co., 4.950%, 02/24/2032 | 6773414 | 0.1 |
| 3025000 | Humana, Inc., 5.375%, 04/15/2031 | 3058356 | 0.0 |
| 4435000 <sup>(1)</sup> | Icon Investments Six DAC, 5.849%, 05/08/2029 | 4522825 | 0.1 |
| 4355000 <sup>(2)</sup> | Imperial Brands Finance PLC, 5.500%, 02/01/2030 | 4470213 | 0.1 |
| 2524000 <sup>(1)</sup><sup>(2)</sup> | Japan Tobacco, Inc., 5.250%, 06/15/2030 | 2589492 | 0.0 |
| 1564000 <sup>(1)</sup> | Johnson & Johnson, 4.900%, 06/01/2031 | 1616483 | 0.0 |
| 2738000 | Kenvue, Inc., 4.850%, 05/22/2032 | 2768280 | 0.0 |
| 1857000 | Kenvue, Inc., 5.050%, 03/22/2028 | 1885767 | 0.0 |
| 2517000 <sup>(1)</sup> | Kroger Co., 5.500%, 09/15/2054 | 2339175 | 0.0 |
| 3291000 | Kroger Co., 5.650%, 09/15/2064 | 3053658 | 0.0 |
| 2706000 <sup>(1)</sup> | Laboratory Corp. of America Holdings, 4.550%, 04/01/2032 | 2673825 | 0.0 |
| 2077000 | Laboratory Corp. of America Holdings, 4.800%, 10/01/2034 | 2023155 | 0.0 |
| 2720000 <sup>(2)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 2906706 | 0.0 |
| 2854000 <sup>(2)</sup> | Mars, Inc., 5.000%, 03/01/2032 | 2888633 | 0.0 |
| 4959000 <sup>(2)</sup> | Mars, Inc., 5.200%, 03/01/2035 | 5008015 | 0.1 |
| 2409000 <sup>(2)</sup> | Mars, Inc., 5.650%, 05/01/2045 | 2380299 | 0.0 |
| 3458000 <sup>(2)</sup> | Mars, Inc., 5.700%, 05/01/2055 | 3374152 | 0.0 |
| 2596000 | McKesson Corp., 4.250%, 09/15/2029 | 2589860 | 0.0 |
| 4108000 | McKesson Corp., 4.950%, 05/30/2032 | 4174153 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 3286000 <sup>(1)</sup> | McKesson Corp., 5.250%, 05/30/2035 | $3349859 | 0.0 |
| 3355000 <sup>(2)</sup> | Medline Borrower L.P., 3.875%, 04/01/2029 | 3247378 | 0.0 |
| 6062000 <sup>(1)</sup> | Merck & Co., Inc., 4.450%, 12/04/2032 | 6022589 | 0.1 |
| 5000000 <sup>(2)</sup> | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 5341300 | 0.1 |
| 7097000 | Novartis Capital Corp., 4.600%, 03/18/2033 | 7068926 | 0.1 |
| 4229000 | Novartis Capital Corp., 5.600%, 03/18/2046 | 4238538 | 0.1 |
| 4819000 <sup>(1)</sup> | Novartis Capital Corp., 5.700%, 03/18/2056 | 4856839 | 0.1 |
| 2340000 <sup>(2)</sup> | Performance Food Group, Inc., 5.625%, 03/01/2034 | 2259498 | 0.0 |
| 2905000 <sup>(1)</sup> | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 2653081 | 0.0 |
| 2054000 | Pfizer Investment Enterprises Pte Ltd., 4.650%, 05/19/2030 | 2070105 | 0.0 |
| 2005000 | Pfizer Investment Enterprises Pte Ltd., 4.750%, 05/19/2033 | 1997959 | 0.0 |
| 3095000 | Philip Morris International, Inc., 4.750%, 11/01/2031 | 3110247 | 0.0 |
| 3560000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 3613670 | 0.0 |
| 5005000 <sup>(1)</sup><sup>(2)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 4935169 | 0.1 |
| 1915000 <sup>(1)</sup><sup>(2)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.375%, 04/30/2029 | 1862101 | 0.0 |
| 875000 <sup>(1)</sup> | Quest Diagnostics, Inc., 2.800%, 06/30/2031 | 799405 | 0.0 |
| 900000 <sup>(1)</sup> | Quest Diagnostics, Inc., 2.950%, 06/30/2030 | 843743 | 0.0 |
| 4723000 <sup>(1)</sup> | Quest Diagnostics, Inc., 4.625%, 12/15/2029 | 4757792 | 0.1 |
| 1475000 | Quest Diagnostics, Inc., 6.400%, 11/30/2033 | 1606393 | 0.0 |
| 3025000 <sup>(1)</sup><sup>(2)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 2918844 | 0.0 |
| 1261000 | Reynolds American, Inc., 5.850%, 08/15/2045 | 1222016 | 0.0 |
| 1390000 <sup>(2)</sup> | Roche Holdings, Inc., 4.592%, 09/09/2034 | 1369367 | 0.0 |
| 6213000 <sup>(2)</sup> | Roche Holdings, Inc., 5.489%, 11/13/2030 | 6500885 | 0.1 |
| 1830000 | Royalty Pharma PLC, 1.750%, 09/02/2027 | 1764670 | 0.0 |
| 4451000 | Royalty Pharma PLC, 2.200%, 09/02/2030 | 4010119 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1529000 | S&P Global, Inc., 1.250%, 08/15/2030 | $1333639 | 0.0 |
| 3579000 | S&P Global, Inc., 2.950%, 03/01/2029 | 3448322 | 0.0 |
| 1890000 <sup>(1)</sup><sup>(2)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | 1803113 | 0.0 |
| 1945000 <sup>(1)</sup><sup>(2)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1873193 | 0.0 |
| 3030000 | Solventum Corp., 5.450%, 03/13/2031 | 3109494 | 0.0 |
| 1761000 | Solventum Corp., 5.600%, 03/23/2034 | 1800850 | 0.0 |
| 2575000 <sup>(2)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 2663124 | 0.0 |
| 3771000 | Stryker Corp., 4.850%, 02/10/2030 | 3823243 | 0.0 |
| 916000 | Takeda Pharmaceutical Co. Ltd., 5.300%, 07/05/2034 | 926739 | 0.0 |
| 2423000 | Takeda Pharmaceutical Co. Ltd., 5.800%, 07/05/2064 | 2341077 | 0.0 |
| 3130000 <sup>(1)</sup><sup>(2)</sup> | Tenet Healthcare Corp., 6.000%, 11/15/2033 | 3169551 | 0.0 |
| 4218000 | Thermo Fisher Scientific, Inc., 4.550%, 06/15/2033 | 4169018 | 0.1 |
| 4174000 | Thermo Fisher Scientific, Inc., 4.977%, 08/10/2030 | 4266479 | 0.1 |
| 2097000 | Tyson Foods, Inc., 5.400%, 03/15/2029 | 2152146 | 0.0 |
| 523000 | UnitedHealth Group, Inc., 2.750%, 05/15/2040 | 380672 | 0.0 |
| 1264000 | UnitedHealth Group, Inc., 3.500%, 08/15/2039 | 1023285 | 0.0 |
| 4723000 <sup>(1)</sup> | UnitedHealth Group, Inc., 4.950%, 01/15/2032 | 4777072 | 0.1 |
| 1659000 | UnitedHealth Group, Inc., 5.150%, 07/15/2034 | 1673773 | 0.0 |
| 553000 | UnitedHealth Group, Inc., 5.500%, 04/15/2064 | 506762 | 0.0 |
| 2675000 | UnitedHealth Group, Inc., 5.750%, 07/15/2064 | 2549075 | 0.0 |
| 1706000 | Universal Health Services, Inc., 4.625%, 10/15/2029 | 1686565 | 0.0 |
| 3003000 | Viatris, Inc., 2.700%, 06/22/2030 | 2721566 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1719000 | Viatris, Inc., 4.000%, 06/22/2050 | $1127597 | 0.0 |
| 1850000 <sup>(2)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 1892609 | 0.0 |
| 3555000 <sup>(2)</sup> | Williams Scotsman, Inc., 6.625%, 06/15/2029 | 3597728 | 0.0 |
| 1863000 | Zimmer Biomet Holdings, Inc., 3.550%, 03/20/2030 | 1791896 | 0.0 |
|  |  | **405630842** | **3.6** |
|  | **Energy: 1.8%** |  |  |
| 2762000 <sup>(2)</sup> | Aker BP ASA, 5.125%, 10/01/2034 | 2704454 | 0.0 |
| 3810000 <sup>(2)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 6.625%, 02/01/2032 | 3907475 | 0.1 |
| 4977000 <sup>(1)</sup> | APA Corp., 6.750%, 02/15/2055 | 4992557 | 0.1 |
| 1048000 | BP Capital Markets America, Inc., 4.893%, 09/11/2033 | 1053858 | 0.0 |
| 557000 | BP Capital Markets America, Inc., 4.989%, 04/10/2034 | 561067 | 0.0 |
| 3099000 | BP Capital Markets America, Inc., 5.227%, 11/17/2034 | 3163868 | 0.0 |
| 2776000 <sup>(3)</sup> | BP Capital Markets PLC, 4.875%, 12/31/2199 | 2742324 | 0.0 |
| 2318000 | Canadian Natural Resources Ltd., 5.400%, 12/15/2034 | 2345947 | 0.0 |
| 459000 | Cenovus Energy, Inc., 5.400%, 06/15/2047 | 417026 | 0.0 |
| 2294000 | Cheniere Energy Partners L.P., 4.500%, 10/01/2029 | 2284683 | 0.0 |
| 1265000 <sup>(1)</sup><sup>(2)</sup> | CNX Resources Corp., 7.250%, 03/01/2032 | 1304317 | 0.0 |
| 2385000 <sup>(2)</sup> | Columbia Pipelines Holding Co. LLC, 5.097%, 10/01/2031 | 2399722 | 0.0 |
| 3851000 <sup>(2)</sup> | Columbia Pipelines Holding Co. LLC, 6.042%, 08/15/2028 | 3976780 | 0.1 |
| 2010000 <sup>(1)</sup><sup>(2)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 2040912 | 0.0 |
| 3160000 <sup>(2)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 3271418 | 0.0 |
| 3710000 <sup>(1)</sup> | Devon Energy Corp., 5.200%, 09/15/2034 | 3720722 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1199000 | Diamondback Energy, Inc., 4.250%, 03/15/2052 | $928835 | 0.0 |
| 895000 | Diamondback Energy, Inc., 5.900%, 04/18/2064 | 847611 | 0.0 |
| 9510000 | Ecopetrol SA, 8.375%, 01/19/2036 | 9655979 | 0.1 |
| 4698000 <sup>(1)</sup><sup>(3)</sup> | Enbridge (US) Inc. 20- A, 5.750%, 07/15/2080 | 4691922 | 0.1 |
| 2414000 | Energy Transfer L.P., 3.750%, 05/15/2030 | 2334311 | 0.0 |
| 5508000 <sup>(1)</sup> | Energy Transfer L.P., 4.550%, 01/15/2031 | 5460115 | 0.1 |
| 264000 | Energy Transfer L.P., 4.900%, 03/15/2035 | 255498 | 0.0 |
| 2556000 | Energy Transfer L.P., 5.200%, 04/01/2030 | 2613832 | 0.0 |
| 1510000 | Energy Transfer L.P., 5.300%, 04/01/2044 | 1354537 | 0.0 |
| 4621000 <sup>(1)</sup> | Energy Transfer L.P., 5.350%, 01/15/2036 | 4590636 | 0.1 |
| 306000 | Energy Transfer L.P., 5.350%, 05/15/2045 | 273833 | 0.0 |
| 994000 | Energy Transfer L.P., 6.050%, 09/01/2054 | 947302 | 0.0 |
| 1616000 | Energy Transfer L.P. 20Y, 5.800%, 06/15/2038 | 1638628 | 0.0 |
| 2311000 <sup>(3)</sup> | Enterprise Products Operating LLC D, 6.900%, (TSFR3M + 3.248%), 08/16/2077 | 2310208 | 0.0 |
| 6091000 | EOG Resources, Inc., 5.000%, 07/15/2032 | 6169080 | 0.1 |
| 3063000 | EOG Resources, Inc., 5.350%, 01/15/2036 | 3109561 | 0.0 |
| 2517000 | Equinor ASA, 4.500%, 09/03/2030 | 2531156 | 0.0 |
| 9403000 <sup>(1)</sup> | Equinor ASA, 4.750%, 11/14/2035 | 9262348 | 0.1 |
| 4618000 | Hess Corp., 4.300%, 04/01/2027 | 4621623 | 0.1 |
| 1945000 <sup>(2)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 8.375%, 11/01/2033 | 2030730 | 0.0 |
| 3130000 <sup>(2)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | 3248305 | 0.0 |
| 655000 | Kinder Morgan Energy Partners L.P., 5.000%, 03/01/2043 | 587684 | 0.0 |
| 4419000 | Kinder Morgan, Inc., 5.300%, 12/01/2034 | 4455498 | 0.1 |
| 3138000 | Marathon Petroleum Corp., 5.125%, 12/15/2026 | 3148781 | 0.0 |
| 360000 | MPLX L.P., 2.650%, 08/15/2030 | 331933 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3031000 | MPLX L.P., 5.000%, 01/15/2033 | $3009859 | 0.0 |
| 1955000 | MPLX L.P., 5.300%, 04/01/2036 | 1927771 | 0.0 |
| 2550000 <sup>(2)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 2559297 | 0.0 |
| 1790000 <sup>(1)</sup> | Occidental Petroleum Corp., 5.375%, 01/01/2032 | 1817884 | 0.0 |
| 1030000 <sup>(1)</sup> | Occidental Petroleum Corp., 6.050%, 10/01/2054 | 1002307 | 0.0 |
| 2008000 <sup>(1)</sup> | Occidental Petroleum Corp., 6.200%, 03/15/2040 | 2052294 | 0.0 |
| 568000 | Occidental Petroleum Corp., 6.600%, 03/15/2046 | 588740 | 0.0 |
| 852000 | ONEOK Partners L.P., 6.200%, 09/15/2043 | 853704 | 0.0 |
| 3322000 <sup>(1)</sup><sup>(2)</sup> | ONEOK, Inc., 6.500%, 09/01/2030 | 3517629 | 0.0 |
| 1041000 | Ovintiv, Inc., 5.650%, 05/15/2028 | 1069193 | 0.0 |
| 2650000 <sup>(2)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 2701214 | 0.0 |
| 10350000 | Petroleos Mexicanos, 5.950%, 01/28/2031 | 9925133 | 0.1 |
| 1011000 | Sabine Pass Liquefaction LLC, 4.200%, 03/15/2028 | 1007187 | 0.0 |
| 3548000 | Sabine Pass Liquefaction LLC, 5.000%, 03/15/2027 | 3555088 | 0.0 |
| 2072000 <sup>(1)</sup><sup>(2)</sup> | Schlumberger Holdings Corp., 2.650%, 06/26/2030 | 1924277 | 0.0 |
| 2804000 <sup>(2)</sup> | Schlumberger Holdings Corp., 5.000%, 11/15/2029 | 2839414 | 0.0 |
| 2195000 <sup>(1)</sup><sup>(2)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 2258890 | 0.0 |
| 3170000 <sup>(2)</sup> | Sunoco L.P., 5.875%, 03/15/2034 | 3137235 | 0.0 |
| 4244000 | Targa Resources Corp., 5.400%, 07/30/2036 | 4214759 | 0.1 |
| 872000 | Targa Resources Corp., 5.500%, 02/15/2035 | 880103 | 0.0 |
| 467000 | Targa Resources Corp., 6.250%, 07/01/2052 | 466809 | 0.0 |
| 3000000 | Targa Resources Partners L.P. / Targa Resources Partners Finance Corp., 4.875%, 02/01/2031 | 2996440 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 4023000 <sup>(3)</sup> | TransCanada PipeLines Ltd., 7.000%, 06/01/2065 | $4087135 | 0.1 |
| 1016000 | Transcontinental Gas Pipe Line Co. LLC, 3.250%, 05/15/2030 | 966154 | 0.0 |
| 9077000 <sup>(1)</sup> | Valero Energy Corp., 5.150%, 03/10/2036 | 8951290 | 0.1 |
| 4285000 <sup>(1)</sup><sup>(2)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 4458523 | 0.1 |
| 1180000 <sup>(2)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 | 1230834 | 0.0 |
| 1620000 <sup>(2)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 1716879 | 0.0 |
| 4818000 <sup>(1)</sup> | Viper Energy Partners LLC, 5.700%, 08/01/2035 | 4858495 | 0.1 |
| 2403000 | Western Midstream Operating L.P., 5.300%, 03/01/2048 | 2033027 | 0.0 |
| 3841000 | Western Midstream Operating L.P., 5.450%, 11/15/2034 | 3805402 | 0.1 |
| 1128000 | Williams Cos., Inc., 4.900%, 03/15/2029 | 1141420 | 0.0 |
|  |  | **205841462** | **1.8** |
|  | **Financial: 8.3%** |  |  |
| 3137000 <sup>(2)</sup><sup>(3)</sup> | ABN AMRO Bank NV, 3.324%, 03/13/2037 | 2801297 | 0.0 |
| 2710000 <sup>(1)</sup><sup>(2)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 2724442 | 0.0 |
| 2780000 | Air Lease Corp., MTN, 5.200%, 07/15/2031 | 2787041 | 0.0 |
| 2750000 <sup>(2)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 2703793 | 0.0 |
| 3999000 <sup>(3)</sup> | American Express Co., 4.351%, 07/20/2029 | 3996743 | 0.0 |
| 1131000 <sup>(3)</sup> | American Express Co., 4.456%, 02/10/2032 | 1119530 | 0.0 |
| 138000 <sup>(1)</sup><sup>(3)</sup> | American Express Co., 5.016%, 04/25/2031 | 140330 | 0.0 |
| 1765000 <sup>(3)</sup> | American Express Co., 5.085%, 01/30/2031 | 1795276 | 0.0 |
| 2732000 <sup>(3)</sup> | American Express Co., 5.098%, 02/16/2028 | 2747230 | 0.0 |
| 1605000 <sup>(1)</sup><sup>(3)</sup> | American Express Co., 5.282%, 07/27/2029 | 1632585 | 0.0 |
| 752000 <sup>(1)</sup> | American Homes 4 Rent L.P., 3.625%, 04/15/2032 | 694631 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1402000 | American Homes 4 Rent L.P., 4.250%, 02/15/2028 | $1395005 | 0.0 |
| 4121000 | American Homes 4 Rent L.P., 5.500%, 02/01/2034 | 4160815 | 0.0 |
| 3723000 | American International Group, Inc., 3.400%, 06/30/2030 | 3553938 | 0.0 |
| 2342000 | American Tower Corp., 3.650%, 03/15/2027 | 2325721 | 0.0 |
| 1075000 | American Tower Corp., 5.250%, 07/15/2028 | 1093831 | 0.0 |
| 848000 | American Tower Corp., 5.500%, 03/15/2028 | 863119 | 0.0 |
| 2269000 | Ameriprise Financial, Inc., 5.700%, 12/15/2028 | 2346140 | 0.0 |
| 1205000 | Aon North America, Inc., 5.125%, 03/01/2027 | 1211463 | 0.0 |
| 2941000 | Aon North America, Inc., 5.150%, 03/01/2029 | 3004496 | 0.0 |
| 4030000 | Aon North America, Inc., 5.750%, 03/01/2054 | 3886101 | 0.0 |
| 4308000 <sup>(1)</sup> | Arthur J Gallagher & Co., 5.550%, 02/15/2055 | 4024371 | 0.0 |
| 7719000 | Assurant, Inc., 5.550%, 02/15/2036 | 7742903 | 0.1 |
| 8638000 <sup>(1)</sup> | Athene Holding Ltd., 6.250%, 04/01/2054 | 7934746 | 0.1 |
| 7343000 | Athene Holding Ltd., 6.625%, 05/19/2055 | 7081609 | 0.1 |
| 4890000 <sup>(2)</sup> | Atlas Warehouse Lending Co. L.P., 4.625%, 11/15/2028 | 4817624 | 0.1 |
| 7652000 <sup>(2)</sup> | Atlas Warehouse Lending Co. L.P., 6.050%, 01/15/2028 | 7760159 | 0.1 |
| 3330000 <sup>(2)</sup><sup>(3)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 | 3363300 | 0.0 |
| 3750000 <sup>(2)</sup> | Banco Nacional de Panama, 2.500%, 08/11/2030 | 3326184 | 0.0 |
| 2000000 | Banco Nacional de Panama, 2.500%, 08/11/2030 | 1773965 | 0.0 |
| 6400000 | Banco Santander SA, 5.439%, 07/15/2031 | 6584940 | 0.1 |
| 3000000 <sup>(3)</sup> | Banco Santander SA, 5.538%, 03/14/2030 | 3072518 | 0.0 |
| 6031000 <sup>(3)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 5980905 | 0.1 |
| 1037000 <sup>(3)</sup> | Bank of America Corp., 2.299%, 07/21/2032 | 915749 | 0.0 |
| 3851000 <sup>(3)</sup> | Bank of America Corp., 2.572%, 10/20/2032 | 3427591 | 0.0 |
| 4632000 <sup>(3)</sup> | Bank of America Corp., 2.592%, 04/29/2031 | 4280408 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 2737000 <sup>(3)</sup> | Bank of America Corp., 2.687%, 04/22/2032 | $2481211 | 0.0 |
| 9145000 <sup>(3)</sup> | Bank of America Corp., 3.419%, 12/20/2028 | 8986994 | 0.1 |
| 2895000 <sup>(3)</sup> | Bank of America Corp., 4.456%, 02/06/2032 | 2859384 | 0.0 |
| 4557000 <sup>(3)</sup> | Bank of America Corp., 5.045%, 02/06/2037 | 4498206 | 0.1 |
| 2138000 <sup>(3)</sup> | Bank of America Corp., 5.511%, 01/24/2036 | 2181048 | 0.0 |
| 3982000 <sup>(3)</sup> | Bank of America Corp., 5.518%, 10/25/2035 | 3983308 | 0.0 |
| 3463000 <sup>(1)</sup><sup>(3)</sup> | Bank of America Corp., 5.744%, 02/12/2036 | 3524060 | 0.0 |
| 4581000 <sup>(3)</sup> | Bank of America Corp., 5.872%, 09/15/2034 | 4798490 | 0.1 |
| 3684000 <sup>(3)</sup> | Bank of America Corp., GMTN, 3.593%, 07/21/2028 | 3645332 | 0.0 |
| 4361000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 4149862 | 0.0 |
| 1549000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.496%, 02/13/2031 | 1432180 | 0.0 |
| 1874000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 1845686 | 0.0 |
| 7790000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.884%, 10/22/2030 | 7369796 | 0.1 |
| 6254000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.972%, 02/04/2033 | 5662868 | 0.1 |
| 783000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.970%, 03/05/2029 | 776151 | 0.0 |
| 7082000 <sup>(3)</sup> | Bank of Montreal, 4.640%, 09/10/2030 | 7097600 | 0.1 |
| 6515000 <sup>(3)</sup> | Bank of Nova Scotia, 4.740%, 11/10/2032 | 6505944 | 0.1 |
| 4522000 <sup>(2)</sup> | Banque Federative du Credit Mutuel SA, 4.591%, 10/16/2028 | 4525566 | 0.1 |
| 1485000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 1392156 | 0.0 |
| 3863000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 2.000%, 01/30/2032 | 3278930 | 0.0 |
| 608000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 564015 | 0.0 |
| 6133000 <sup>(2)</sup> | BPCE SA, 5.281%, 05/30/2029 | 6257068 | 0.1 |
| 3090000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | BPCE SA, 5.716%, 01/18/2030 | 3168164 | 0.0 |
| 4244000 | Brown & Brown, Inc., 4.900%, 06/23/2030 | 4241186 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1887000 <sup>(2)</sup><sup>(3)</sup> | CaixaBank SA, 5.673%, 03/15/2030 | $1939200 | 0.0 |
| 2929000 <sup>(1)</sup> | Camden Property Trust, 5.850%, 11/03/2026 | 2951969 | 0.0 |
| 2921000 <sup>(1)</sup><sup>(3)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | 2873018 | 0.0 |
| 1571000 <sup>(3)</sup> | Charles Schwab Corp., 6.196%, 11/17/2029 | 1642375 | 0.0 |
| 5174000 | Chubb INA Holdings LLC, 4.900%, 08/15/2035 | 5096578 | 0.1 |
| 6071000 <sup>(1)</sup> | CME Group, Inc., 4.400%, 03/15/2030 | 6091903 | 0.1 |
| 4409000 <sup>(2)</sup> | CNO Global Funding, 5.875%, 06/04/2027 | 4470930 | 0.1 |
| 878000 <sup>(3)</sup> | CoBank ACB M, 7.125%, 12/31/2199 | 907123 | 0.0 |
| 8722000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | Cooperatieve Rabobank UA, 5.710%, 01/21/2033 | 9065881 | 0.1 |
| 4493000 <sup>(2)</sup> | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 4453411 | 0.1 |
| 1235000 <sup>(1)</sup> | Corebridge Financial, Inc., 3.900%, 04/05/2032 | 1159083 | 0.0 |
| 2833000 | Corebridge Financial, Inc., 6.050%, 09/15/2033 | 2966890 | 0.0 |
| 3950000 <sup>(2)</sup><sup>(3)</sup> | Credit Agricole SA, 4.656%, 01/12/2032 | 3897133 | 0.0 |
| 7556000 <sup>(2)</sup><sup>(3)</sup> | Credit Agricole SA, 4.818%, 09/25/2033 | 7405210 | 0.1 |
| 1462000 <sup>(1)</sup> | Credit Suisse AG/ New York NY, 1.250%, 08/07/2026 | 1447080 | 0.0 |
| 1734000 | Crown Castle, Inc., 2.100%, 04/01/2031 | 1511239 | 0.0 |
| 294000 | Crown Castle, Inc., 2.500%, 07/15/2031 | 259123 | 0.0 |
| 2091000 | Crown Castle, Inc., 2.900%, 03/15/2027 | 2060311 | 0.0 |
| 2414000 | Crown Castle, Inc., 3.300%, 07/01/2030 | 2262672 | 0.0 |
| 3964000 | Crown Castle, Inc., 4.800%, 09/01/2028 | 3985805 | 0.0 |
| 4723000 | Crown Castle, Inc., 4.900%, 09/01/2029 | 4750671 | 0.1 |
| 696000 | Crown Castle, Inc., 5.100%, 05/01/2033 | 686527 | 0.0 |
| 2067000 | Crown Castle, Inc., 5.600%, 06/01/2029 | 2116418 | 0.0 |
| 1197000 | Crown Castle, Inc., 5.800%, 03/01/2034 | 1226475 | 0.0 |
| 3189000 | CubeSmart L.P., 2.250%, 12/15/2028 | 3010987 | 0.0 |
| 2467000 <sup>(2)</sup><sup>(3)</sup> | Danske Bank A/S, 4.613%, 10/02/2030 | 2460599 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 4475000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | Danske Bank A/S, 4.999%, 03/27/2032 | $4488249 | 0.1 |
| 2901000 <sup>(2)</sup><sup>(3)</sup> | Danske Bank A/S, 5.705%, 03/01/2030 | 2984330 | 0.0 |
| 2157000 <sup>(2)</sup><sup>(3)</sup> | Depository Trust & Clearing Corp. D, 3.375%, 12/31/2199 | 2145404 | 0.0 |
| 6636000 <sup>(1)</sup> | Deutsche Bank AG/ New York NY, 5.414%, 05/10/2029 | 6817535 | 0.1 |
| 3775000 <sup>(2)</sup><sup>(3)</sup> | DNB Bank ASA, 4.832%, 03/30/2032 | 3767104 | 0.0 |
| 2465000 <sup>(2)</sup><sup>(3)</sup> | DNB Bank ASA, 4.853%, 11/05/2030 | 2489013 | 0.0 |
| 3371000 <sup>(2)</sup> | EQT AB, 5.850%, 05/08/2035 | 3383900 | 0.0 |
| 6221000 <sup>(2)</sup> | Equitable Financial Life Global Funding, 5.000%, 03/27/2030 | 6274937 | 0.1 |
| 4658000 <sup>(1)</sup><sup>(2)</sup> | Equitable Holdings, Inc., 4.572%, 02/15/2029 | 4629653 | 0.1 |
| 2049000 | Extra Space Storage L.P., 3.900%, 04/01/2029 | 2006972 | 0.0 |
| 1453000 | Extra Space Storage L.P., 4.000%, 06/15/2029 | 1430819 | 0.0 |
| 1807000 | Extra Space Storage L.P., 5.350%, 01/15/2035 | 1817970 | 0.0 |
| 5974000 <sup>(1)</sup><sup>(2)</sup> | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 6105371 | 0.1 |
| 6191000 <sup>(1)</sup><sup>(3)</sup> | Fifth Third Bancorp, 5.141%, 01/29/2037 | 6033431 | 0.1 |
| 6043000 | First Industrial L.P., 5.250%, 01/15/2031 | 6109220 | 0.1 |
| 2735000 <sup>(1)</sup><sup>(2)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 2718854 | 0.0 |
| 2490000 <sup>(2)</sup> | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 2534198 | 0.0 |
| 4571000 <sup>(1)</sup><sup>(2)</sup> | Gabx Leasing LLC, 5.300%, 04/15/2036 | 4488806 | 0.1 |
| 7759000 | GLP Capital L.P. / GLP Financing II, Inc., 5.250%, 02/15/2033 | 7612687 | 0.1 |
| 1035000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 4.516%, 01/21/2032 | 1019529 | 0.0 |
| 4419000 <sup>(1)</sup><sup>(3)</sup> | Goldman Sachs Group, Inc., 5.065%, 01/21/2037 | 4321980 | 0.1 |
| 1933000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.330%, 07/23/2035 | 1940198 | 0.0 |
| 2705000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.536%, 01/28/2036 | 2750767 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1737000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | $1792365 | 0.0 |
| 3392000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.734%, 01/28/2056 | 3314007 | 0.0 |
| 76000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 79518 | 0.0 |
| 5869000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | Hartford Financial Services Group, Inc. ICON, 6.039%, (TSFR3M + 2.387%), 02/12/2067 | 5632604 | 0.1 |
| 5958000 <sup>(3)</sup> | HSBC Holdings PLC, 2.206%, 08/17/2029 | 5640723 | 0.1 |
| 2677000 <sup>(3)</sup> | HSBC Holdings PLC, 2.804%, 05/24/2032 | 2408373 | 0.0 |
| 4589000 <sup>(3)</sup> | HSBC Holdings PLC, 4.619%, 11/06/2031 | 4526628 | 0.1 |
| 3653000 <sup>(1)</sup><sup>(3)</sup> | HSBC Holdings PLC, 5.279%, 03/10/2037 | 3588755 | 0.0 |
| 2231000 <sup>(3)</sup> | HSBC Holdings PLC, 5.597%, 05/17/2028 | 2256421 | 0.0 |
| 16453000 <sup>(3)</sup> | Huntington Bancshares, Inc., 5.605%, 01/28/2041 | 16064289 | 0.2 |
| 3785000 <sup>(3)</sup> | Huntington National Bank, 4.871%, 04/12/2028 | 3798533 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(2)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 986398 | 0.0 |
| 10149000 <sup>(3)</sup> | ING Groep NV, 5.420%, 03/23/2037 | 10123427 | 0.1 |
| 4467000 | Intercontinental Exchange, Inc., 2.100%, 06/15/2030 | 4062490 | 0.0 |
| 3738000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 3683138 | 0.0 |
| 2809000 | Invitation Homes Operating Partnership L.P., 2.000%, 08/15/2031 | 2405596 | 0.0 |
| 5001000 | Invitation Homes Operating Partnership L.P., 2.300%, 11/15/2028 | 4707873 | 0.1 |
| 1727000 <sup>(1)</sup> | Invitation Homes Operating Partnership L.P., 5.500%, 08/15/2033 | 1729938 | 0.0 |
| 2035000 <sup>(1)</sup><sup>(2)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 2030121 | 0.0 |
| 4080000 <sup>(2)</sup> | Jane Street Group / JSG Finance, Inc., 6.750%, 05/01/2033 | 4142334 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3068000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.470%, 09/22/2027 | $3026254 | 0 |
| 6974000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 6962832 | 0.1 |
| 1737000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.953%, 02/04/2032 | 1529898 | 0 |
| 4497000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 4279570 | 0.1 |
| 1881000 <sup>(1)</sup><sup>(3)</sup> | JPMorgan Chase & Co., 2.182%, 06/01/2028 | 1833964 | 0 |
| 1145000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.739%, 10/15/2030 | 1078642 | 0 |
| 4173000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 4121091 | 0 |
| 1130000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 1112157 | 0 |
| 1158000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.702%, 05/06/2030 | 1129632 | 0 |
| 6555000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.452%, 12/05/2029 | 6564034 | 0.1 |
| 3813000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.603%, 10/22/2030 | 3821840 | 0 |
| 9048000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.810%, 10/22/2036 | 8788610 | 0.1 |
| 5714000 <sup>(1)</sup><sup>(3)</sup> | JPMorgan Chase & Co., 4.898%, 01/22/2037 | 5593352 | 0.1 |
| 2733000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 2773419 | 0 |
| 1099000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 1114532 | 0 |
| 16947000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.193%, 02/05/2037 | 16659574 | 0.2 |
| 2459000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 2489499 | 0 |
| 4080000 <sup>(1)</sup><sup>(3)</sup> | JPMorgan Chase & Co., 5.572%, 04/22/2036 | 4205968 | 0 |
| 1300000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.581%, 04/22/2030 | 1340053 | 0 |
| 1736000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.766%, 04/22/2035 | 1808773 | 0 |
| 5906000 <sup>(1)</sup><sup>(3)</sup> | KeyCorp, 5.305%, 01/28/2037 | 5786847 | 0.1 |
| 3190000 <sup>(3)</sup> | KeyCorp Capital I, 4.693%, (TSFR3M + 1.002%), 07/01/2028 | 3134542 | 0 |
| 1049000 | Kite Realty Group L.P., 4.000%, 10/01/2026 | 1046239 | 0 |
| 3387000 <sup>(2)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 3284822 | 0 |
| 4692000 <sup>(1)</sup><sup>(3)</sup> | Lloyds Banking Group PLC, 8.000%, 12/31/2199 | 4929181 | 0.1 |
| 4801000 <sup>(1)</sup> | LPL Holdings, Inc., 5.150%, 06/15/2030 | 4827289 | 0.1 |
| 3805000 | LPL Holdings, Inc., 5.200%, 03/15/2030 | 3834766 | 0 |
| 2342000 | LPL Holdings, Inc., 5.700%, 05/20/2027 | 2364182 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3028000 <sup>(2)</sup> | Lseg US Fin Corp., 4.875%, 03/28/2027 | $3042672 | 0.0 |
| 2901000 <sup>(2)</sup> | Lseg US Fin Corp., 5.297%, 03/28/2034 | 2922185 | 0.0 |
| 17461000 <sup>(1)</sup><sup>(3)</sup> | M&T Bank Corp., 5.400%, 07/30/2035 | 17410018 | 0.2 |
| 4714000 <sup>(1)</sup> | Main Street Capital Corp., 6.950%, 03/01/2029 | 4851575 | 0.1 |
| 2165000 <sup>(1)</sup> | Mid-America Apartments L.P., 5.300%, 02/15/2032 | 2226472 | 0.0 |
| 2150000 <sup>(2)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 2088282 | 0.0 |
| 4606000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 4.505%, 01/14/2032 | 4540872 | 0.1 |
| 1426000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.197%, 01/16/2031 | 1449723 | 0.0 |
| 8525000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.615%, 04/24/2036 | 8727686 | 0.1 |
| 3517000 <sup>(3)</sup> | Morgan Stanley, 1.593%, 05/04/2027 | 3507289 | 0.0 |
| 6221000 <sup>(3)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | 6124268 | 0.1 |
| 2097000 <sup>(3)</sup> | Morgan Stanley, 2.484%, 09/16/2036 | 1805027 | 0.0 |
| 1533000 <sup>(3)</sup> | Morgan Stanley, 3.591%, 07/22/2028 | 1515309 | 0.0 |
| 1458000 <sup>(3)</sup> | Morgan Stanley, 4.457%, 04/22/2039 | 1337512 | 0.0 |
| 1924000 <sup>(3)</sup> | Morgan Stanley, 5.042%, 07/19/2030 | 1946637 | 0.0 |
| 23822000 <sup>(3)</sup> | Morgan Stanley, 5.073%, 01/30/2037 | 23347789 | 0.2 |
| 1246000 <sup>(3)</sup> | Morgan Stanley, 5.173%, 01/16/2030 | 1263730 | 0.0 |
| 486000 <sup>(3)</sup> | Morgan Stanley, 5.192%, 04/17/2031 | 493356 | 0.0 |
| 4921000 <sup>(3)</sup> | Morgan Stanley, 5.664%, 04/17/2036 | 5042170 | 0.1 |
| 2273000 <sup>(3)</sup> | Morgan Stanley, 6.296%, 10/18/2028 | 2333084 | 0.0 |
| 9918000 <sup>(3)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 9827977 | 0.1 |
| 764000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 761417 | 0.0 |
| 2130000 <sup>(3)</sup> | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 2154873 | 0.0 |
| 656000 <sup>(3)</sup> | Morgan Stanley I, 4.133%, 10/18/2029 | 648523 | 0.0 |
| 545000 <sup>(3)</sup> | Morgan Stanley Bank NA, 5.504%, 05/26/2028 | 551296 | 0.0 |
| 1750000 <sup>(3)</sup> | Morgan Stanley Private Bank NA, 4.734%, 07/18/2031 | 1744915 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 4247000 | National Bank of Canada, 5.600%, 12/18/2028 | $4375943 | 0.1 |
| 2366000 <sup>(2)</sup> | National Securities Clearing Corp., 4.700%, 05/20/2030 | 2389935 | 0.0 |
| 2135000 <sup>(2)</sup> | Nationwide Building Society, 4.351%, 09/30/2030 | 2102050 | 0.0 |
| 2975000 <sup>(3)</sup> | NatWest Group PLC, 5.076%, 01/27/2030 | 3008736 | 0.0 |
| 3236000 <sup>(3)</sup> | NatWest Group PLC, 5.778%, 03/01/2035 | 3346243 | 0.0 |
| 5488000 <sup>(2)</sup> | NatWest Markets PLC, 5.410%, 05/17/2029 | 5635377 | 0.1 |
| 5205000 <sup>(2)</sup> | Nippon Life Insurance Co., 4.748%, 04/02/2031 | 5219950 | 0.1 |
| 3897000 | NNN REIT, Inc., 4.600%, 02/15/2031 | 3875395 | 0.0 |
| 12118000 <sup>(3)</sup> | Northern Trust Corp., 5.117%, 11/19/2040 | 11804109 | 0.1 |
| 2338000 <sup>(2)</sup> | Northwestern Mutual Life Insurance Co., 6.170%, 05/29/2055 | 2403756 | 0.0 |
| 2910000 <sup>(2)</sup> | Nuveen LLC, 5.550%, 01/15/2030 | 2986120 | 0.0 |
| 3424000 | Omega Healthcare Investors, Inc., 5.200%, 07/01/2030 | 3439252 | 0.0 |
| 2490000 <sup>(2)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 2499621 | 0.0 |
| 2895000 <sup>(2)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 2932343 | 0.0 |
| 1214000 | Piedmont Operating Partnership L.P., 2.750%, 04/01/2032 | 1020626 | 0.0 |
| 110000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 5.373%, 07/21/2036 | 110529 | 0.0 |
| 4719000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 5.423%, 01/25/2041 | 4625026 | 0.1 |
| 3191000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 6.037%, 10/28/2033 | 3376565 | 0.0 |
| 4453000 <sup>(1)</sup><sup>(2)</sup> | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 4539541 | 0.1 |
| 999000 <sup>(1)</sup><sup>(2)</sup> | Prologis Targeted US Logistics Fund L.P., 5.500%, 04/01/2034 | 1015500 | 0.0 |
| 8035000 <sup>(1)</sup> | Raymond James Financial, Inc., 5.650%, 09/11/2055 | 7613192 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 647000 | Realty Income Corp., 3.950%, 08/15/2027 | $644004 | 0.0 |
| 8108000 | Rexford Industrial Realty L.P., 2.150%, 09/01/2031 | 7035060 | 0.1 |
| 900000 <sup>(1)</sup><sup>(2)</sup> | RGA Global Funding, 5.448%, 05/24/2029 | 922254 | 0.0 |
| 3462000 | RLI Corp., 5.375%, 06/01/2036 | 3334558 | 0.0 |
| 2890000 <sup>(2)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 2924663 | 0.0 |
| 3900000 <sup>(2)</sup> | Rocket Cos., Inc., 6.500%, 08/01/2029 | 3948771 | 0.0 |
| 3091000 <sup>(3)</sup> | Royal Bank of Canada, 4.696%, 08/06/2031 | 3085288 | 0.0 |
| 4500000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.650%, 10/18/2030 | 4512102 | 0.1 |
| 2325000 <sup>(1)</sup><sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 2354950 | 0.0 |
| 2778000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 5.153%, 02/04/2031 | 2824311 | 0.0 |
| 1574000 | Sabra Health Care L.P., 3.200%, 12/01/2031 | 1421920 | 0.0 |
| 2513000 <sup>(3)</sup> | Santander UK Group Holdings PLC, 2.469%, 01/11/2028 | 2471904 | 0.0 |
| 2350000 <sup>(2)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 2401298 | 0.0 |
| 8244000 <sup>(3)</sup> | State Street Corp., 3.031%, 11/01/2034 | 7762655 | 0.1 |
| 4147000 <sup>(3)</sup> | State Street Corp., 4.675%, 10/22/2032 | 4144347 | 0.0 |
| 2249000 | State Street Corp., 4.729%, 02/28/2030 | 2276923 | 0.0 |
| 1323000 | Sumitomo Mitsui Financial Group, Inc., 3.040%, 07/16/2029 | 1258734 | 0.0 |
| 3841000 <sup>(3)</sup> | Sumitomo Mitsui Financial Group, Inc., 4.494%, 01/15/2032 | 3783580 | 0.0 |
| 3708000 | Sumitomo Mitsui Financial Group, Inc., 5.240%, 04/15/2030 | 3790120 | 0.0 |
| 5849000 <sup>(1)</sup><sup>(3)</sup> | Sumitomo Mitsui Financial Group, Inc., 5.334%, 03/03/2041 | 5674888 | 0.1 |
| 4395000 | Sumitomo Mitsui Financial Group, Inc., 5.424%, 07/09/2031 | 4500979 | 0.1 |
| 2663000 <sup>(1)</sup> | Sumitomo Mitsui Financial Group, Inc., 5.454%, 01/15/2032 | 2747705 | 0.0 |
| 2781000 <sup>(2)</sup> | Symetra Life Insurance Co., 6.550%, 10/01/2055 | 2789282 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3596000 <sup>(1)</sup> | Toronto-Dominion Bank, 5.298%, 01/30/2032 | $3698186 | 0.0 |
| 5136000 | TPG Operating Group II L.P., 4.875%, 05/15/2031 | 5039796 | 0.1 |
| 274000 <sup>(1)</sup><sup>(3)</sup> | Truist Financial Corp., MTN, 4.964%, 10/23/2036 | 265507 | 0.0 |
| 4678000 <sup>(1)</sup><sup>(3)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 4788892 | 0.1 |
| 975000 <sup>(2)</sup><sup>(3)</sup> | UBS Group AG, 1.494%, 08/10/2027 | 964548 | 0.0 |
| 2423000 <sup>(2)</sup><sup>(3)</sup> | UBS Group AG, 9.250%, 12/31/2199 | 2584021 | 0.0 |
| 9106000 <sup>(1)</sup><sup>(3)</sup> | US Bancorp, 5.033%, 01/26/2037 | 8975477 | 0.1 |
| 1960000 <sup>(2)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 2015268 | 0.0 |
| 9474000 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo & Co., 4.960%, 01/23/2037 | 9232555 | 0.1 |
| 11503000 <sup>(3)</sup> | Wells Fargo & Co., 5.433%, 01/23/2047 | 10907910 | 0.1 |
| 520000 <sup>(3)</sup> | Wells Fargo & Co., 5.499%, 01/23/2035 | 529502 | 0.0 |
| 8242000 <sup>(3)</sup> | Wells Fargo & Co., 5.605%, 04/23/2036 | 8437247 | 0.1 |
| 718000 <sup>(3)</sup> | Wells Fargo & Co., 6.491%, 10/23/2034 | 777651 | 0.0 |
| 2052000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 | 2032976 | 0.0 |
| 5949000 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo & Co. GG, 6.125%, 12/31/2199 | 5972967 | 0.1 |
| 3280000 <sup>(2)</sup> | Westpac New Zealand Ltd., 5.132%, 02/26/2027 | 3305585 | 0.0 |
| 469000 | Weyerhaeuser Co., 4.750%, 05/15/2026 | 469152 | 0.0 |
| 5578000 <sup>(2)</sup> | Wynnton Funding Trust, 5.251%, 08/15/2035 | 5486076 | 0.1 |
| 9491000 <sup>(2)</sup> | Wynnton Funding Trust II, 5.991%, 08/15/2055 | 9387178 | 0.1 |
|  |  | **926745591** | **8.3** |
|  | **Industrial: 2.1%** |  |  |
| 2347000 <sup>(1)</sup> | 3M Co., 5.150%, 03/15/2035 | 2363685 | 0.0 |
| 2294000 | AGCO Corp., 5.450%, 03/21/2027 | 2310099 | 0.0 |
| 1546000 | Amcor Group Finance PLC, 5.450%, 05/23/2029 | 1584461 | 0.0 |
| 1950000 <sup>(2)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 2014598 | 0.0 |
| 2570000 <sup>(1)</sup><sup>(2)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 | 2635311 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 4723000 | Arrow Electronics, Inc., 5.150%, 08/21/2029 | $4776091 | 0.1 |
| 4302000 <sup>(2)</sup> | BAE Systems PLC, 5.125%, 03/26/2029 | 4391044 | 0.1 |
| 3668000 | Berry Global, Inc., 1.650%, 01/15/2027 | 3592082 | 0.0 |
| 1512000 | Boeing Co., 5.930%, 05/01/2060 | 1452599 | 0.0 |
| 423000 | Boeing Co., 6.858%, 05/01/2054 | 465924 | 0.0 |
| 2673000 | Boeing Co., 7.008%, 05/01/2064 | 2957817 | 0.0 |
| 3355000 <sup>(1)</sup><sup>(2)</sup> | Bombardier, Inc., 7.250%, 07/01/2031 | 3519955 | 0.0 |
| 7452000 | Canadian National Railway Co., 4.200%, 03/12/2031 | 7352357 | 0.1 |
| 1551000 | Canadian Pacific Railway Co., 2.875%, 11/15/2029 | 1473509 | 0.0 |
| 687000 | Carrier Global Corp., 2.722%, 02/15/2030 | 641839 | 0.0 |
| 3290000 <sup>(2)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 3259070 | 0.0 |
| 2235000 | Caterpillar Financial Services Corp., 4.700%, 11/15/2029 | 2266606 | 0.0 |
| 2750000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 | 2797075 | 0.0 |
| 4253000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | 4305328 | 0.1 |
| 4120000 <sup>(1)</sup> | CNH Industrial Capital LLC, 5.500%, 01/12/2029 | 4224459 | 0.1 |
| 3184000 | CRH SMW Finance DAC, 5.200%, 05/21/2029 | 3254490 | 0.0 |
| 4255000 <sup>(2)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 4332905 | 0.1 |
| 3050000 <sup>(1)</sup><sup>(2)</sup> | Energizer Holdings, Inc., 4.375%, 03/31/2029 | 2904208 | 0.0 |
| 269000 | FedEx Corp., 4.550%, 04/01/2046 | 224702 | 0.0 |
| 1855813 | FedEx Corp. Class AA Pass Through Trust 20-1, AA, 1.875%, 08/20/2035 | 1601706 | 0.0 |
| 4723000 | Flex Ltd., 5.250%, 01/15/2032 | 4753345 | 0.1 |
| 2414000 | Fortune Brands Innovations, Inc., 3.250%, 09/15/2029 | 2302520 | 0.0 |
| 1487000 | Fortune Brands Innovations, Inc., 4.000%, 03/25/2032 | 1400743 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3170000 <sup>(2)</sup> | FTAI Aviation Investors LLC, 7.000%, 06/15/2032 | $3252201 | 0.0 |
| 1345000 | GATX Corp., 4.000%, 06/30/2030 | 1310055 | 0.0 |
| 798000 <sup>(1)</sup> | GATX Corp., 6.050%, 06/05/2054 | 793042 | 0.0 |
| 2150000 <sup>(2)</sup> | GFL Environmental Holdings US, Inc., 5.500%, 02/01/2034 | 2111399 | 0.0 |
| 1128000 | GXO Logistics, Inc., 6.250%, 05/06/2029 | 1170270 | 0.0 |
| 4298000 | HEICO Corp., 5.250%, 08/01/2028 | 4381569 | 0.1 |
| 7570000 <sup>(2)</sup> | Honeywell Aerospace, Inc., 5.732%, 03/16/2056 | 7487871 | 0.1 |
| 4409000 <sup>(2)</sup> | Honeywell Aerospace, Inc., 5.852%, 03/16/2066 | 4376755 | 0.1 |
| 316000 | Honeywell International, Inc., 4.750%, 02/01/2032 | 316826 | 0.0 |
| 2414000 | Huntington Ingalls Industries, Inc., 4.200%, 05/01/2030 | 2369297 | 0.0 |
| 3080000 <sup>(2)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 2995604 | 0.0 |
| 1219000 | Ingersoll Rand, Inc., 5.176%, 06/15/2029 | 1248240 | 0.0 |
| 1440000 | Ingersoll Rand, Inc., 5.400%, 08/14/2028 | 1473508 | 0.0 |
| 808000 <sup>(1)</sup> | Ingersoll Rand, Inc., 5.450%, 06/15/2034 | 825327 | 0.0 |
| 2841000 | Jacobs Solutions, Inc., 4.750%, 03/03/2031 | 2802344 | 0.0 |
| 3021000 <sup>(1)</sup> | Jacobs Solutions, Inc., 5.375%, 03/03/2036 | 2948212 | 0.0 |
| 3643000 | John Deere Capital Corp., 4.400%, 09/08/2031 | 3639797 | 0.0 |
| 6621000 | John Deere Capital Corp., MTN, 4.700%, 06/10/2030 | 6711731 | 0.1 |
| 2816000 | John Deere Capital Corp., MTN, 4.850%, 06/11/2029 | 2868497 | 0.0 |
| 5217000 | John Deere Capital Corp., MTN, 4.900%, 03/07/2031 | 5327929 | 0.1 |
| 2203000 <sup>(1)</sup> | L3Harris Technologies, Inc., 5.050%, 06/01/2029 | 2241917 | 0.0 |
| 731000 | Mohawk Industries, Inc., 5.850%, 09/18/2028 | 752571 | 0.0 |
| 339000 <sup>(1)</sup> | Norfolk Southern Corp., 5.050%, 08/01/2030 | 346421 | 0.0 |
| 994000 | Norfolk Southern Corp., 5.550%, 03/15/2034 | 1030783 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 172000 | Norfolk Southern Corp., 5.950%, 03/15/2064 | $170444 | 0.0 |
| 2445000 <sup>(1)</sup><sup>(2)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 2344396 | 0.0 |
| 4012000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.700%, 06/15/2026 | 3989769 | 0.1 |
| 5266000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 07/01/2029 | 5344198 | 0.1 |
| 4173000 <sup>(1)</sup><sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 02/01/2030 | 4237358 | 0.1 |
| 7742000 <sup>(1)</sup><sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 7876333 | 0.1 |
| 2120000 <sup>(2)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2151276 | 0.0 |
| 2164000 | Raytheon Technologies Corp., 4.450%, 11/16/2038 | 2000373 | 0.0 |
| 3653000 | Ryder System, Inc., 5.000%, 03/15/2030 | 3696953 | 0.0 |
| 1847000 <sup>(1)</sup> | Ryder System, Inc., 6.600%, 12/01/2033 | 2024702 | 0.0 |
| 2193000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 2222219 | 0.0 |
| 2200000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 2235603 | 0.0 |
| 421000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 430956 | 0.0 |
| 3012000 | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | 3098132 | 0.0 |
| 2986000 <sup>(2)</sup> | Sealed Air Corp., 1.573%, 10/15/2026 | 2980647 | 0.0 |
| 2825000 <sup>(1)</sup><sup>(2)</sup> | Sealed Air Corp/Sealed Air Corp. US, 7.250%, 02/15/2031 | 2964132 | 0.0 |
| 6495000 <sup>(1)</sup> | Smurfit Kappa Treasury ULC, 5.200%, 01/15/2030 | 6622622 | 0.1 |
| 2183000 | Smurfit Kappa Treasury ULC, 5.438%, 04/03/2034 | 2216200 | 0.0 |
| 2110000 <sup>(1)</sup><sup>(2)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 2177467 | 0.0 |
| 2396000 | Sonoco Products Co., 4.600%, 09/01/2029 | 2389989 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1070000 <sup>(1)</sup><sup>(2)</sup> | Standard Building Solutions, Inc., 6.500%, 08/15/2032 | $1071500 | 0.0 |
| 3925000 <sup>(2)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | 3701961 | 0.1 |
| 2720000 <sup>(1)</sup><sup>(2)</sup> | Terex Corp., 6.250%, 10/15/2032 | 2740246 | 0.0 |
| 2405000 <sup>(1)</sup><sup>(2)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 2438321 | 0.0 |
| 4229000 | Vertiv Holdings Co., 5.650%, 03/15/2046 | 4036482 | 0.1 |
| 4572000 <sup>(1)</sup> | Waste Connections, Inc., 4.800%, 07/15/2036 | 4481216 | 0.1 |
| 2720000 <sup>(2)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 2757403 | 0.0 |
| 2459000 | Westinghouse Air Brake Technologies Corp., 4.700%, 09/15/2028 | 2466615 | 0.0 |
| 6037000 <sup>(2)</sup> | WSP Global, Inc., 5.039%, 09/18/2031 | 5989141 | 0.1 |
|  |  | **232797348** | **2.1** |
|  | **Technology: 2.6%** |  |  |
| 8911000 | Accenture Capital, Inc., 4.250%, 10/04/2031 | 8809618 | 0.1 |
| 5141000 <sup>(1)</sup> | Adobe, Inc., 4.950%, 01/17/2030 | 5249930 | 0.1 |
| 2615000 <sup>(1)</sup><sup>(2)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 | 2708525 | 0.0 |
| 4276000 <sup>(2)</sup> | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 | 4167232 | 0.1 |
| 5501000 | Broadcom, Inc., 2.450%, 02/15/2031 | 4997201 | 0.1 |
| 5460000 <sup>(2)</sup> | Broadcom, Inc., 3.187%, 11/15/2036 | 4565395 | 0.1 |
| 3037000 | Broadcom, Inc., 4.800%, 10/15/2034 | 2992366 | 0.0 |
| 4244000 | Broadcom, Inc., 4.900%, 07/15/2032 | 4282662 | 0.1 |
| 7800000 <sup>(2)</sup> | Broadcom, Inc., 4.926%, 05/15/2037 | 7570536 | 0.1 |
| 2641000 | Broadcom, Inc., 5.050%, 04/15/2030 | 2692502 | 0.0 |
| 2439000 | Broadcom, Inc., 5.150%, 11/15/2031 | 2502627 | 0.0 |
| 1268000 | Broadcom, Inc., 5.200%, 04/15/2032 | 1298445 | 0.0 |
| 2405000 <sup>(2)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 2449771 | 0.0 |
| 3662000 | Cadence Design Systems, Inc., 4.300%, 09/10/2029 | 3651185 | 0.0 |
| 2359000 | CDW LLC / CDW Finance Corp., 5.100%, 03/01/2030 | 2356120 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3620000 <sup>(2)</sup> | Cloud Software Group, Inc., 8.250%, 06/30/2032 | $3436230 | 0.0 |
| 3085000 <sup>(1)</sup><sup>(2)</sup> | Constellation Software, Inc./Canada, 5.158%, 02/16/2029 | 3099496 | 0.0 |
| 1745000 <sup>(1)</sup><sup>(2)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 1697212 | 0.0 |
| 2923000 | Fiserv, Inc., 5.150%, 03/15/2027 | 2937849 | 0.0 |
| 1384000 | Fiserv, Inc., 5.150%, 08/12/2034 | 1344950 | 0.0 |
| 1925000 <sup>(1)</sup><sup>(2)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 1915565 | 0.0 |
| 1013000 <sup>(2)</sup> | Foundry JV Holdco LLC, 5.875%, 01/25/2034 | 1026592 | 0.0 |
| 1717000 <sup>(2)</sup> | Foundry JV Holdco LLC, 5.900%, 01/25/2030 | 1777807 | 0.0 |
| 6281000 <sup>(2)</sup> | Foundry JV Holdco LLC, 6.200%, 01/25/2037 | 6498241 | 0.1 |
| 5146000 <sup>(1)</sup> | Hewlett Packard Enterprise Co., 4.850%, 10/15/2031 | 5112529 | 0.1 |
| 3782000 | Hewlett Packard Enterprise Co., 5.600%, 10/15/2054 | 3378786 | 0.0 |
| 2449000 <sup>(1)</sup> | HP, Inc., 2.650%, 06/17/2031 | 2178905 | 0.0 |
| 4276000 <sup>(1)</sup> | IBM International Capital Pte Ltd., 4.750%, 02/05/2031 | 4283476 | 0.1 |
| 245000 <sup>(1)</sup> | Intel Corp., 5.600%, 02/21/2054 | 224936 | 0.0 |
| 3250000 | Intel Corp., 5.700%, 02/10/2053 | 2994962 | 0.0 |
| 6251000 | International Business Machines Corp., 4.800%, 02/10/2030 | 6321618 | 0.1 |
| 3191000 | International Business Machines Corp., 4.900%, 07/27/2052 | 2693603 | 0.0 |
| 7256000 | International Business Machines Corp., 4.950%, 02/03/2036 | 7070913 | 0.1 |
| 3709000 <sup>(1)</sup> | International Business Machines Corp., 5.000%, 02/10/2032 | 3747418 | 0.0 |
| 2909000 <sup>(1)</sup> | International Business Machines Corp., 5.200%, 02/10/2035 | 2925189 | 0.0 |
| 9043000 <sup>(1)</sup> | International Business Machines Corp., 5.800%, 02/03/2056 | 8651927 | 0.1 |
| 3306000 <sup>(1)</sup> | Intuit, Inc., 5.200%, 09/15/2033 | 3364599 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 12129000 <sup>(1)</sup> | Intuit, Inc., 5.500%, 09/15/2053 | $11165576 | 0.1 |
| 2459000 | Kyndryl Holdings, Inc., 2.700%, 10/15/2028 | 2275109 | 0.0 |
| 2006000 | Marvell Technology, Inc., 5.750%, 02/15/2029 | 2071472 | 0.0 |
| 4080000 | Micron Technology, Inc., 3.366%, 11/01/2041 | 3169220 | 0.0 |
| 3196000 | Micron Technology, Inc., 5.800%, 01/15/2035 | 3404050 | 0.0 |
| 10003000 | Micron Technology, Inc., 6.050%, 11/01/2035 | 10798040 | 0.1 |
| 5176000 <sup>(1)</sup><sup>(2)</sup> | MSCI, Inc., 3.625%, 09/01/2030 | 4894847 | 0.1 |
| 3519000 <sup>(1)</sup> | MSCI, Inc., 5.150%, 03/15/2036 | 3410267 | 0.0 |
| 2593000 | NetApp, Inc., 5.500%, 03/17/2032 | 2655733 | 0.0 |
| 2114000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 4.300%, 06/18/2029 | 2096014 | 0.0 |
| 1985000 <sup>(2)</sup> | OAK-Eagle Acquireco, Inc., 7.250%, 07/01/2033 | 2057938 | 0.0 |
| 770000 <sup>(2)</sup> | OAK-Eagle Acquireco, Inc., 8.750%, 07/01/2034 | 806611 | 0.0 |
| 4220000 <sup>(1)</sup><sup>(2)</sup> | Open Text Holdings, Inc., 4.125%, 12/01/2031 | 3604517 | 0.0 |
| 5808000 | Oracle Corp., 2.300%, 03/25/2028 | 5534673 | 0.1 |
| 2520000 | Oracle Corp., 2.950%, 04/01/2030 | 2301033 | 0.0 |
| 2941000 | Oracle Corp., 3.800%, 11/15/2037 | 2337126 | 0.0 |
| 177000 | Oracle Corp., 3.850%, 07/15/2036 | 146735 | 0.0 |
| 498000 | Oracle Corp., 3.850%, 04/01/2060 | 293370 | 0.0 |
| 5152000 | Oracle Corp., 4.950%, 02/04/2031 | 5042677 | 0.1 |
| 2644000 <sup>(1)</sup> | Oracle Corp., 5.200%, 09/26/2035 | 2481392 | 0.0 |
| 7726000 | Oracle Corp., 5.350%, 05/04/2033 | 7523854 | 0.1 |
| 5280000 | Oracle Corp., 5.375%, 09/27/2054 | 4097118 | 0.1 |
| 2161000 | Oracle Corp., 5.500%, 09/27/2064 | 1656500 | 0.0 |
| 3125000 | Oracle Corp., 5.875%, 09/26/2045 | 2698069 | 0.0 |
| 11915000 <sup>(1)</sup> | Oracle Corp., 5.950%, 09/26/2055 | 10031148 | 0.1 |
| 4320000 | Oracle Corp., 6.000%, 08/03/2055 | 3625275 | 0.0 |
| 3890000 | Oracle Corp., 6.100%, 09/26/2065 | 3227864 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1739000 | Oracle Corp., 6.125%, 08/03/2065 | $1447693 | 0.0 |
| 2415000 | Oracle Corp., 6.550%, 02/04/2046 | 2254643 | 0.0 |
| 2945000 | Oracle Corp., 6.700%, 02/04/2056 | 2735396 | 0.0 |
| 2415000 | Oracle Corp., 6.850%, 02/04/2066 | 2222348 | 0.0 |
| 2095000 <sup>(1)</sup><sup>(2)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | 1637033 | 0.0 |
| 2628000 | Qualcomm, Inc., 4.750%, 05/20/2032 | 2643300 | 0.0 |
| 5107000 | Salesforce, Inc., 4.900%, 09/15/2031 | 5100975 | 0.1 |
| 6127000 | Salesforce, Inc., 5.200%, 03/15/2033 | 6118303 | 0.1 |
| 4551000 | Salesforce, Inc., 5.550%, 03/15/2036 | 4538560 | 0.1 |
| 4229000 | Salesforce, Inc., 6.400%, 03/15/2046 | 4260918 | 0.1 |
| 6940000 | Salesforce, Inc., 6.550%, 03/15/2056 | 6968744 | 0.1 |
| 2555000 <sup>(1)</sup> | Synopsys, Inc., 5.000%, 04/01/2032 | 2578029 | 0.0 |
| 2204000 | Take-Two Interactive Software, Inc., 5.400%, 06/12/2029 | 2252802 | 0.0 |
| 2414000 | Teledyne FLIR LLC, 2.500%, 08/01/2030 | 2222513 | 0.0 |
|  |  | **287364403** | **2.6** |
|  | **Utilities: 2.7%** |  |  |
| 4409000 | AEP Texas, Inc., 5.450%, 05/15/2029 | 4522577 | 0.1 |
| 1580000 | AEP Transmission Co. LLC, 5.150%, 04/01/2034 | 1592849 | 0.0 |
| 4300000 <sup>(1)</sup> | AES Corp., 5.800%, 03/15/2032 | 4326257 | 0.1 |
| 1119000 | Alabama Power Co., 5.850%, 11/15/2033 | 1185292 | 0.0 |
| 2014000 <sup>(3)</sup> | Algonquin Power & Utilities Corp., 5.365%, 06/15/2026 | 2015783 | 0.0 |
| 2025000 <sup>(2)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 | 2056109 | 0.0 |
| 2175000 | Ameren Corp., 1.750%, 03/15/2028 | 2069180 | 0.0 |
| 1788000 | Ameren Corp., 5.000%, 01/15/2029 | 1816571 | 0.0 |
| 2443000 <sup>(1)</sup><sup>(2)</sup> | American Transmission Systems, Inc., 2.650%, 01/15/2032 | 2190092 | 0.0 |
| 2225000 | Avangrid, Inc., 3.800%, 06/01/2029 | 2172278 | 0.0 |
| 1956000 | Black Hills Corp., 3.050%, 10/15/2029 | 1860345 | 0.0 |
| 12184000 | Black Hills Corp., 4.550%, 01/31/2031 | 12059366 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1123000 | Black Hills Corp., 6.000%, 01/15/2035 | $1166330 | 0.0 |
| 2075000 <sup>(2)</sup> | Boston Gas Co., 5.843%, 01/10/2035 | 2177405 | 0.0 |
| 1912000 | CenterPoint Energy, Inc., 5.400%, 06/01/2029 | 1960320 | 0.0 |
| 1857260 <sup>(2)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 | 1874458 | 0.0 |
| 1929000 <sup>(2)</sup> | Cleveland Electric Illuminating Co., 3.500%, 04/01/2028 | 1890139 | 0.0 |
| 1392000 <sup>(3)</sup> | CMS Energy Corp., 3.750%, 12/01/2050 | 1270712 | 0.0 |
| 5088000 <sup>(3)</sup> | CMS Energy Corp., 4.750%, 06/01/2050 | 4938229 | 0.1 |
| 3750000 <sup>(2)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 3755625 | 0.1 |
| 5075000 <sup>(2)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 5053431 | 0.1 |
| 436000 | Consolidated Edison Co. of New York, Inc. 05-A, 5.300%, 03/01/2035 | 443192 | 0.0 |
| 1342000 | DTE Energy Co., 4.950%, 07/01/2027 | 1351014 | 0.0 |
| 3698000 | DTE Energy Co., 5.200%, 04/01/2030 | 3772800 | 0.1 |
| 1132000 | Duke Energy Carolinas LLC, 2.550%, 04/15/2031 | 1035904 | 0.0 |
| 3061000 | Duke Energy Florida LLC, 2.400%, 12/15/2031 | 2737170 | 0.0 |
| 896000 | Duke Energy Florida LLC, 5.875%, 11/15/2033 | 951662 | 0.0 |
| 1453000 <sup>(1)</sup> | Duke Energy Ohio, Inc., 2.125%, 06/01/2030 | 1322918 | 0.0 |
| 1438000 <sup>(2)</sup> | Duquesne Light Holdings, Inc., 2.532%, 10/01/2030 | 1309890 | 0.0 |
| 3791000 <sup>(2)</sup> | Electricite de France SA, 4.875%, 09/21/2038 | 3516006 | 0.1 |
| 5021000 | Entergy Arkansas LLC, 5.750%, 01/15/2056 | 4926764 | 0.1 |
| 2072000 | Entergy Corp., 2.400%, 06/15/2031 | 1841045 | 0.0 |
| 1124000 | Entergy Corp., 2.800%, 06/15/2030 | 1045633 | 0.0 |
| 1801000 | Entergy Mississippi LLC, 5.000%, 09/01/2033 | 1808830 | 0.0 |
| 1935000 | Entergy Texas, Inc., 4.000%, 03/30/2029 | 1918894 | 0.0 |
| 4299000 | Essential Utilities, Inc., 2.704%, 04/15/2030 | 3991825 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1145000 | Essential Utilities, Inc., 5.375%, 01/15/2034 | $1161280 | 0.0 |
| 1818000 <sup>(1)</sup> | Evergy Kansas Central, Inc., 5.250%, 03/15/2035 | 1833351 | 0.0 |
| 802000 <sup>(1)</sup> | Evergy Kansas Central, Inc., 5.900%, 11/15/2033 | 851149 | 0.0 |
| 1937000 <sup>(1)</sup> | Evergy Metro, Inc. 2020, 2.250%, 06/01/2030 | 1771735 | 0.0 |
| 2414000 | Eversource Energy, 2.550%, 03/15/2031 | 2179098 | 0.0 |
| 4069000 | Eversource Energy, 2.900%, 03/01/2027 | 4017427 | 0.1 |
| 1219000 | Eversource Energy, 5.125%, 05/15/2033 | 1215571 | 0.0 |
| 2696000 | Eversource Energy, 5.450%, 03/01/2028 | 2740634 | 0.0 |
| 1423000 | Eversource Energy, 5.500%, 01/01/2034 | 1443664 | 0.0 |
| 2725000 | Eversource Energy, 5.950%, 02/01/2029 | 2823872 | 0.0 |
| 1503000 <sup>(3)</sup> | Eversource Energy A, 6.100%, 08/15/2056 | 1485057 | 0.0 |
| 2705000 <sup>(3)</sup> | Eversource Energy B, 6.350%, 08/15/2056 | 2670073 | 0.0 |
| 2241000 <sup>(1)</sup> | Eversource Energy U, 1.400%, 08/15/2026 | 2216287 | 0.0 |
| 4339000 | Exelon Corp., 5.150%, 03/15/2028 | 4391822 | 0.1 |
| 1911000 | Exelon Corp., 5.150%, 03/15/2029 | 1948020 | 0.0 |
| 3349000 | FirstEnergy Corp. B, 3.900%, 07/15/2027 | 3322553 | 0.0 |
| 1714000 | Florida Power & Light Co., 4.625%, 05/15/2030 | 1731880 | 0.0 |
| 2006000 | Florida Power & Light Co., 5.300%, 06/15/2034 | 2063259 | 0.0 |
| 1433000 | Georgia Power Co., 4.650%, 05/16/2028 | 1444796 | 0.0 |
| 3844000 <sup>(1)</sup> | Idaho Power Co., 4.850%, 03/01/2036 | 3764010 | 0.1 |
| 1906000 | IPALCO Enterprises, Inc., 4.250%, 05/01/2030 | 1837387 | 0.0 |
| 623000 <sup>(1)</sup><sup>(2)</sup> | Jersey Central Power & Light Co., 2.750%, 03/01/2032 | 559928 | 0.0 |
| 873000 | Kentucky Utilities Co. KENT, 5.450%, 04/15/2033 | 902662 | 0.0 |
| 2459000 <sup>(2)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 2509245 | 0.0 |
| 3667000 <sup>(2)</sup> | Liberty Utilities Co., 5.869%, 01/31/2034 | 3806649 | 0.1 |
| 2700000 <sup>(2)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 | 2808669 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 873000 | Louisville Gas and Electric Co. LOU, 5.450%, 04/15/2033 | $903241 | 0.0 |
| 2192000 <sup>(1)</sup><sup>(2)</sup> | Monongahela Power Co., 3.550%, 05/15/2027 | 2171113 | 0.0 |
| 1959000 <sup>(2)</sup> | Monongahela Power Co., 5.850%, 02/15/2034 | 2060956 | 0.0 |
| 2608000 <sup>(2)</sup> | Narragansett Electric Co., 3.395%, 04/09/2030 | 2494237 | 0.0 |
| 2878000 | National Grid PLC, 5.418%, 01/11/2034 | 2933941 | 0.0 |
| 4164000 | National Rural Utilities Cooperative Finance Corp., 2.400%, 03/15/2030 | 3868069 | 0.1 |
| 2177000 | National Rural Utilities Cooperative Finance Corp., 2.750%, 04/15/2032 | 1952925 | 0.0 |
| 608000 | National Rural Utilities Cooperative Finance Corp., 4.150%, 12/15/2032 | 589889 | 0.0 |
| 356000 <sup>(1)</sup> | National Rural Utilities Cooperative Finance Corp., 5.800%, 01/15/2033 | 377366 | 0.0 |
| 2086000 | National Rural Utilities Cooperative Finance Corp., MTN, 1.650%, 06/15/2031 | 1798368 | 0.0 |
| 3483000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 3418008 | 0.0 |
| 4864000 <sup>(3)</sup> | NextEra Energy Capital Holdings, Inc., 3.800%, 03/15/2082 | 4699262 | 0.1 |
| 3002000 | NextEra Energy Capital Holdings, Inc., 5.300%, 03/15/2032 | 3075852 | 0.0 |
| 5039000 | NextEra Energy Capital Holdings, Inc., 5.850%, 03/01/2056 | 4921645 | 0.1 |
| 2937000 <sup>(3)</sup> | NextEra Energy Capital Holdings, Inc., 6.375%, 08/15/2055 | 2993675 | 0.0 |
| 3061000 <sup>(3)</sup> | NextEra Energy Capital Holdings, Inc., 6.500%, 08/15/2055 | 3159962 | 0.0 |
| 2000000 <sup>(1)</sup><sup>(2)</sup> | Niagara Energy SAC, 5.746%, 10/03/2034 | 2008800 | 0.0 |
| 3256000 <sup>(2)</sup> | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 2930032 | 0.0 |
| 444000 <sup>(2)</sup> | Niagara Mohawk Power Corp., 5.664%, 01/17/2054 | 417274 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3611000 | NiSource, Inc., 5.850%, 04/01/2055 | $3512775 | 0.1 |
| 7776000 <sup>(2)</sup> | NorthWestern Corp., 5.073%, 03/21/2030 | 7903054 | 0.1 |
| 2315000 <sup>(2)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 | 2317072 | 0.0 |
| 1282000 <sup>(1)</sup> | NSTAR Electric Co., 1.950%, 08/15/2031 | 1122042 | 0.0 |
| 914000 | NSTAR Electric Co., 5.400%, 06/01/2034 | 934647 | 0.0 |
| 1105000 | OGE Energy Corp., 5.450%, 05/15/2029 | 1132371 | 0.0 |
| 1466000 <sup>(1)</sup> | ONE Gas, Inc., 5.100%, 04/01/2029 | 1496383 | 0.0 |
| 1280000 | Pacific Gas and Electric Co., 4.300%, 03/15/2045 | 1001056 | 0.0 |
| 761000 | Pacific Gas and Electric Co., 4.450%, 04/15/2042 | 628395 | 0.0 |
| 2330000 <sup>(3)</sup> | PG&E Corp., 6.850%, 09/15/2056 | 2303352 | 0.0 |
| 3432000 <sup>(1)</sup><sup>(2)</sup> | PSEG Power LLC, 5.200%, 05/15/2030 | 3486665 | 0.0 |
| 4066000 <sup>(2)</sup> | PSEG Power LLC, 5.750%, 05/15/2035 | 4131961 | 0.1 |
| 1440000 <sup>(1)</sup> | Public Service Electric and Gas Co., MTN, 5.200%, 03/01/2034 | 1465051 | 0.0 |
| 1529000 | Public Service Enterprise Group, Inc., 1.600%, 08/15/2030 | 1346640 | 0.0 |
| 3272000 | Public Service Enterprise Group, Inc., 2.450%, 11/15/2031 | 2904294 | 0.0 |
| 2666000 | Public Service Enterprise Group, Inc., 4.900%, 03/15/2030 | 2693516 | 0.0 |
| 3888000 | Public Service Enterprise Group, Inc., 5.200%, 04/01/2029 | 3964616 | 0.1 |
| 1187000 | Public Service Enterprise Group, Inc., 5.400%, 03/15/2035 | 1201964 | 0.0 |
| 2950000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | 3016008 | 0.0 |
| 4028000 <sup>(1)</sup><sup>(3)</sup> | Sempra, 6.400%, 10/01/2054 | 4016759 | 0.1 |
| 4593000 <sup>(1)</sup> | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 4017611 | 0.1 |
| 3460000 | Southern Co., 5.113%, 08/01/2027 | 3491133 | 0.0 |
| 4495000 <sup>(3)</sup> | Southern Co. 21-A, 3.750%, 09/15/2051 | 4466452 | 0.1 |
| 1170000 | Southwestern Electric Power Co., 5.300%, 04/01/2033 | 1187060 | 0.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |  |  |
| 9531000 | Southwestern Public Service Co., 5.300%, 05/15/2035 | $| 9564184 | 0.1 |
| 497000 | Southwestern Public Service Co., 6.000%, 06/01/2054 |  | 501044 | 0.0 |
| 2080000 <sup>(2)</sup> | Talen Energy Supply LLC, 6.500%, 02/01/2036 |  | 2095560 | 0.0 |
| 3150000 | Tucson Electric Power Co., 5.200%, 09/15/2034 |  | 3170530 | 0.0 |
| 5719000 | Virginia Electric and Power Co., 4.950%, 03/15/2036 |  | 5577303 | 0.1 |
| 3054000 <sup>(2)</sup> | Vistra Operations Co. LLC, 4.375%, 05/01/2029 |  | 2983233 | 0.0 |
| 4162000 <sup>(1)</sup> | WEC Energy Group, Inc., 1.375%, 10/15/2027 |  | 3975935 | 0.1 |
| 2448000 <sup>(1)</sup> | WEC Energy Group, Inc., 2.200%, 12/15/2028 |  | 2312434 | 0.0 |
| 1155000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 |  | 1167764 | 0.0 |
| 1335000 <sup>(1)</sup> | Wisconsin Electric Power Co., 1.700%, 06/15/2028 |  | 1267053 | 0.0 |
| 1480000 | Wisconsin Power and Light Co., 5.375%, 03/30/2034 |  | 1502942 | 0.0 |
| 3119000 | Xcel Energy, Inc., 5.600%, 04/15/2035 |  | 3171167 | 0.0 |
| 2754000 <sup>(1)</sup><sup>(3)</sup> | Xcel Energy, Inc., 5.750%, 12/03/2056 |  | 2689220 | 0.0 |
|  |  |  | **301920834** | **2.7** |
|  | Total Corporate Bonds/ Notes <br> (Cost $3,014,767,112) |  | **3001228484** | **26.8** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.9%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.9%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.9%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.9%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.9%** |
|  | **Federal Home Loan Mortgage Corporation: 0.8%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 0.8%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 0.8%<sup>(4)</sup>** | **Federal Home Loan Mortgage Corporation: 0.8%<sup>(4)</sup>** |
| 54669 | 2.500%, 05/01/2030 |  | 53019 | 0.0 |
| 146695 | 2.500%, 05/01/2030 |  | 142165 | 0.0 |
| 247112 | 2.500%, 06/01/2030 |  | 239394 | 0.0 |
| 538996 | 3.000%, 11/01/2042 |  | 494804 | 0.0 |
| 559397 | 3.000%, 02/01/2043 |  | 513184 | 0.0 |
| 616553 | 3.000%, 03/01/2045 |  | 561964 | 0.0 |
| 639857 | 3.000%, 03/01/2045 |  | 585024 | 0.0 |
| 1785198 | 3.000%, 04/01/2045 |  | 1630188 | 0.0 |
| 1821283 | 3.000%, 04/01/2045 |  | 1663138 | 0.0 |
| 814014 | 3.000%, 10/01/2046 |  | 738166 | 0.0 |
| 6950462 | 3.000%, 10/01/2046 |  | 6281248 | 0.1 |
| 2668915 | 3.000%, 03/01/2048 |  | 2413004 | 0.0 |
| 3220972 | 3.000%, 03/01/2048 |  | 2914945 | 0.0 |
| 8497861 | 3.000%, 08/01/2048 |  | 7655128 | 0.1 |
| 2691909 | 3.500%, 01/01/2045 |  | 2535969 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 1017200 | 3.500%, 03/01/2045 | $| 956886 | 0.0 |
| 4129166 | 3.500%, 12/01/2046 |  | 3880741 | 0.1 |
| 3288572 | 3.500%, 04/01/2047 |  | 3096110 | 0.1 |
| 2217485 | 3.500%, 07/01/2047 |  | 2074999 | 0.0 |
| 2102316 | 3.500%, 10/01/2047 |  | 1958151 | 0.0 |
| 8137726 | 3.500%, 01/01/2048 |  | 7592970 | 0.1 |
| 1103484 | 3.500%, 03/01/2048 |  | 1030986 | 0.0 |
| 19474159 | 3.500%, 03/01/2048 |  | 18256670 | 0.2 |
| 222890 | 4.000%, 10/01/2041 |  | 214937 | 0.0 |
| 311302 | 4.000%, 12/01/2041 |  | 300197 | 0.0 |
| 829001 | 4.000%, 08/01/2044 |  | 799345 | 0.0 |
| 307730 | 4.000%, 07/01/2045 |  | 296786 | 0.0 |
| 494167 | 4.000%, 09/01/2045 |  | 475878 | 0.0 |
| 687425 | 4.000%, 09/01/2045 |  | 663050 | 0.0 |
| 945508 | 4.000%, 09/01/2045 |  | 910711 | 0.0 |
| 7604504 | 4.000%, 11/01/2045 |  | 7324643 | 0.1 |
| 757254 | 4.000%, 05/01/2046 |  | 728604 | 0.0 |
| 464462 | 4.000%, 05/01/2047 |  | 447891 | 0.0 |
| 2579280 | 4.000%, 11/01/2047 |  | 2469017 | 0.0 |
| 151718 | 4.000%, 03/01/2048 |  | 145790 | 0.0 |
| 2990467 | 4.000%, 06/01/2048 |  | 2882545 | 0.0 |
| 130728 | 4.500%, 08/01/2041 |  | 129332 | 0.0 |
| 329853 | 4.500%, 09/01/2041 |  | 327029 | 0.0 |
| 325724 | 4.500%, 10/01/2041 |  | 322936 | 0.0 |
| 783954 | 4.500%, 03/01/2044 |  | 769882 | 0.0 |
| 1523240 | 4.500%, 02/01/2048 |  | 1499830 | 0.0 |
| 178790 | 4.500%, 06/01/2048 |  | 176098 | 0.0 |
| 30546 | 5.000%, 01/01/2041 |  | 30927 | 0.0 |
| 173829 | 5.000%, 04/01/2041 |  | 174136 | 0.0 |
| 9320 | 5.500%, 07/01/2037 |  | 9634 | 0.0 |
| 525626 | 5.500%, 11/01/2038 |  | 542072 | 0.0 |
| 4877 | 6.000%, 01/01/2029 |  | 4978 | 0.0 |
| 1154 | 6.500%, 12/01/2031 |  | 1195 | 0.0 |
| 127211 | 6.500%, 09/01/2034 |  | 131738 | 0.0 |
| 1908 <sup>(3)</sup> | 6.502%, (RFUCCT1Y + 1.755%), 05/01/2037 |  | 1968 | 0.0 |
|  |  |  | **89050002** | **0.8** |
|  | **Federal National Mortgage Association: 0.2%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.2%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.2%<sup>(4)</sup>** | **Federal National Mortgage Association: 0.2%<sup>(4)</sup>** |
| 13631239 | 3.000%, 12/01/2054 |  | 12104175 | 0.1 |
| 1788031 | 3.500%, 01/01/2044 |  | 1682369 | 0.0 |
| 2196087 | 4.000%, 12/01/2046 |  | 2134613 | 0.0 |
| 776865 | 4.500%, 09/01/2047 |  | 766931 | 0.0 |
| 6498868 | 5.000%, 08/01/2056 |  | 6485720 | 0.1 |
| 30138 | 6.000%, 05/01/2038 |  | 30862 | 0.0 |
|  |  |  | **23204670** | **0.2** |
|  | **Government National Mortgage Association: 4.5%** | **Government National Mortgage Association: 4.5%** | **Government National Mortgage Association: 4.5%** | **Government National Mortgage Association: 4.5%** |
| 7247806 | 2.500%, 03/20/2051 |  | 6243789 | 0.1 |
| 4063015 | 2.500%, 04/20/2051 |  | 3502969 | 0.0 |
| 17048518 | 2.500%, 04/20/2051 |  | 14688510 | 0.1 |
| 5882108 | 2.500%, 05/20/2051 |  | 5067636 | 0.1 |
| 15259515 | 2.500%, 08/20/2051 |  | 13145659 | 0.1 |
| 6614299 | 2.500%, 09/20/2051 |  | 5700444 | 0.1 |
| 15313640 | 2.500%, 12/20/2051 |  | 13192944 | 0.1 |
| 19926305 | 2.500%, 04/20/2052 |  | 17166868 | 0.2 |
| 4303038 | 3.000%, 10/20/2049 |  | 3910336 | 0.0 |
| 2384400 | 3.000%, 11/20/2049 |  | 2166801 | 0.0 |
| 2079785 | 3.000%, 10/20/2051 |  | 1860303 | 0.0 |
| 3912886 | 3.000%, 10/20/2051 |  | 3441061 | 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)** |
| 2226677 | 3.000%, 11/20/2051 | $| 1946508 | 0.0 |
| 571363 | 3.500%, 07/20/2046 |  | 524720 | 0.0 |
| 2391344 | 3.500%, 07/20/2046 |  | 2193191 | 0.0 |
| 791873 | 3.500%, 10/20/2046 |  | 732118 | 0.0 |
| 332453 | 3.500%, 02/20/2047 |  | 308500 | 0.0 |
| 214131 | 3.500%, 03/20/2047 |  | 198233 | 0.0 |
| 226113 | 3.500%, 07/20/2047 |  | 212539 | 0.0 |
| 518502 | 3.500%, 08/20/2047 |  | 479898 | 0.0 |
| 560436 | 3.500%, 09/20/2047 |  | 518033 | 0.0 |
| 4742406 | 3.500%, 12/20/2047 |  | 4398200 | 0.1 |
| 2823048 | 3.500%, 01/20/2048 |  | 2624027 | 0.0 |
| 2480586 | 3.500%, 02/20/2048 |  | 2281175 | 0.0 |
| 4266693 | 3.500%, 02/20/2048 |  | 3977774 | 0.1 |
| 341144 | 3.500%, 03/20/2048 |  | 315947 | 0.0 |
| 11379187 | 3.500%, 03/20/2048 |  | 10592718 | 0.1 |
| 83685 | 4.000%, 11/20/2040 |  | 81002 | 0.0 |
| 491037 | 4.000%, 03/20/2046 |  | 468771 | 0.0 |
| 6219230 | 4.000%, 09/20/2047 |  | 5946048 | 0.1 |
| 2875855 | 4.000%, 02/20/2050 |  | 2734798 | 0.0 |
| 114913 | 4.500%, 10/15/2039 |  | 116397 | 0.0 |
| 80243 | 4.500%, 11/15/2039 |  | 79879 | 0.0 |
| 89546 | 4.500%, 11/15/2039 |  | 88946 | 0.0 |
| 26402 | 4.500%, 12/15/2039 |  | 26061 | 0.0 |
| 4979249 | 4.500%, 08/20/2040 |  | 4931157 | 0.1 |
| 5902975 | 4.500%, 09/20/2040 |  | 5853104 | 0.1 |
| 3893194 | 4.500%, 06/20/2041 |  | 3839580 | 0.0 |
| 25097 | 4.500%, 08/20/2041 |  | 24888 | 0.0 |
| 507896 | 4.500%, 09/15/2047 |  | 497285 | 0.0 |
| 130068000 <sup>(5)</sup> | 4.500%, 04/20/2053 |  | 125673478 | 1.1 |
| 3383627 | 5.000%, 11/20/2052 |  | 3377049 | 0.0 |
| 938194 | 5.000%, 01/20/2053 |  | 936085 | 0.0 |
| 1676799 | 5.000%, 06/20/2053 |  | 1669976 | 0.0 |
| 46485000 <sup>(5)</sup> | 5.000%, 05/15/2056 |  | 45948861 | 0.4 |
| 137677000 <sup>(5)</sup> | 5.500%, 05/20/2056 |  | 138295685 | 1.2 |
| 8806355 | 6.000%, 05/20/2055 |  | 8972233 | 0.1 |
| 32063000 <sup>(5)</sup> | 6.000%, 05/15/2056 |  | 32568041 | 0.3 |
|  |  |  | **503520225** | **4.5** |
|  | **Uniform Mortgage-Backed Securities: 14.4%** | **Uniform Mortgage-Backed Securities: 14.4%** | **Uniform Mortgage-Backed Securities: 14.4%** | **Uniform Mortgage-Backed Securities: 14.4%** |
| 15970681 | 2.000%, 12/01/2050 |  | 13015033 | 0.1 |
| 9806885 | 2.000%, 05/01/2051 |  | 8088492 | 0.1 |
| 21067932 | 2.000%, 05/01/2051 |  | 17084449 | 0.2 |
| 27794572 | 2.000%, 05/01/2051 |  | 22575128 | 0.2 |
| 824389 | 2.000%, 07/01/2051 |  | 669542 | 0.0 |
| 4208074 | 2.000%, 08/01/2051 |  | 3441359 | 0.0 |
| 8896983 | 2.000%, 08/01/2051 |  | 7223511 | 0.1 |
| 17307249 | 2.000%, 09/01/2051 |  | 14042847 | 0.1 |
| 8160746 | 2.000%, 10/01/2051 |  | 6619410 | 0.1 |
| 789311 | 2.000%, 11/01/2051 |  | 646816 | 0.0 |
| 1751901 | 2.000%, 11/01/2051 |  | 1437053 | 0.0 |
| 13782761 | 2.000%, 11/01/2051 |  | 11360153 | 0.1 |
| 6875799 | 2.000%, 12/01/2051 |  | 5637801 | 0.1 |
| 24646226 | 2.000%, 12/01/2051 |  | 19978384 | 0.2 |
| 4069116 | 2.000%, 01/01/2052 |  | 3351018 | 0.0 |
| 3312055 | 2.000%, 02/01/2052 |  | 2715953 | 0.0 |
| 4018232 | 2.000%, 02/01/2052 |  | 3298761 | 0.0 |
| 6687297 | 2.000%, 02/01/2052 |  | 5480018 | 0.1 |
| 6819000 | 2.000%, 02/01/2052 |  | 5585754 | 0.1 |
| 10058877 | 2.000%, 02/01/2052 |  | 8271158 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 10381606 | 2.000%, 02/01/2052 | $8543110 | 0.1 |
| 11536240 | 2.000%, 02/01/2052 | 9496406 | 0.1 |
| 21105832 | 2.000%, 02/01/2052 | 17154347 | 0.2 |
| 22710171 | 2.000%, 02/01/2052 | 18649133 | 0.1 |
| 4111686 | 2.000%, 03/01/2052 | 3378335 | 0.0 |
| 4361964 | 2.000%, 03/01/2052 | 3594352 | 0.0 |
| 5103638 | 2.000%, 03/01/2052 | 4167337 | 0.0 |
| 5444668 | 2.000%, 04/01/2052 | 4480489 | 0.1 |
| 390993000 <sup>(5)</sup> | 2.000%, 04/01/2056 | 315024280 | 2.8 |
| 282916 | 2.500%, 05/01/2030 | 274507 | 0.0 |
| 460075 | 2.500%, 06/01/2030 | 447118 | 0.0 |
| 599351 | 2.500%, 06/01/2030 | 582123 | 0.0 |
| 251210 | 2.500%, 07/01/2030 | 243989 | 0.0 |
| 12079 | 2.500%, 02/01/2050 | 10289 | 0.0 |
| 19099 | 2.500%, 04/01/2050 | 16228 | 0.0 |
| 15142 | 2.500%, 05/01/2050 | 12887 | 0.0 |
| 28973 | 2.500%, 05/01/2050 | 24663 | 0.0 |
| 29179 | 2.500%, 05/01/2050 | 24821 | 0.0 |
| 55158 | 2.500%, 05/01/2050 | 46937 | 0.0 |
| 149669 | 2.500%, 05/01/2050 | 127359 | 0.0 |
| 13287 | 2.500%, 06/01/2050 | 11306 | 0.0 |
| 1384294 | 2.500%, 06/01/2050 | 1187102 | 0.0 |
| 16611351 | 2.500%, 06/01/2050 | 14263314 | 0.1 |
| 183511 | 2.500%, 07/01/2050 | 156087 | 0.0 |
| 2825834 | 2.500%, 07/01/2050 | 2404334 | 0.0 |
| 22240894 | 2.500%, 07/01/2050 | 18939360 | 0.2 |
| 87479 | 2.500%, 08/01/2050 | 74502 | 0.0 |
| 613505 | 2.500%, 08/01/2050 | 522635 | 0.0 |
| 1603484 | 2.500%, 08/01/2050 | 1364141 | 0.0 |
| 1799315 | 2.500%, 08/01/2050 | 1528782 | 0.0 |
| 18507267 | 2.500%, 08/01/2050 | 15904917 | 0.2 |
| 22439 | 2.500%, 09/01/2050 | 19136 | 0.0 |
| 69395 | 2.500%, 09/01/2050 | 59062 | 0.0 |
| 170898 | 2.500%, 09/01/2050 | 145318 | 0.0 |
| 696992 | 2.500%, 09/01/2050 | 593029 | 0.0 |
| 806699 | 2.500%, 09/01/2050 | 686288 | 0.0 |
| 3452450 | 2.500%, 10/01/2050 | 2937127 | 0.0 |
| 3683629 | 2.500%, 10/01/2050 | 3132646 | 0.0 |
| 2941784 | 2.500%, 11/01/2050 | 2509467 | 0.0 |
| 69638 | 2.500%, 01/01/2051 | 59199 | 0.0 |
| 8807673 | 2.500%, 02/01/2051 | 7427960 | 0.1 |
| 19500115 | 2.500%, 04/01/2051 | 16544767 | 0.2 |
| 2911884 | 2.500%, 05/01/2051 | 2500330 | 0.0 |
| 3476446 | 2.500%, 09/01/2051 | 2990074 | 0.0 |
| 16041305 | 2.500%, 11/01/2051 | 13643467 | 0.1 |
| 2146358 | 2.500%, 12/01/2051 | 1845997 | 0.0 |
| 13853571 | 2.500%, 12/01/2051 | 11936936 | 0.1 |
| 13134657 | 2.500%, 01/01/2052 | 11286209 | 0.1 |
| 3024002 | 2.500%, 02/01/2052 | 2596270 | 0.0 |
| 3131518 | 2.500%, 02/01/2052 | 2682125 | 0.0 |
| 5430045 | 2.500%, 02/01/2052 | 4653244 | 0.1 |
| 6057223 | 2.500%, 02/01/2052 | 5201055 | 0.1 |
| 9792232 | 2.500%, 02/01/2052 | 8292784 | 0.1 |
| 94675767 | 2.500%, 02/01/2052 | 81286799 | 0.7 |
| 5225011 | 2.500%, 03/01/2052 | 4465492 | 0.1 |
| 7673990 | 2.500%, 03/01/2052 | 6562910 | 0.1 |
| 24442648 | 2.500%, 03/01/2052 | 21007795 | 0.2 |
| 15171351 | 2.500%, 04/01/2052 | 12941387 | 0.1 |
| 93952000 <sup>(5)</sup> | 2.500%, 04/01/2056 | 79007760 | 0.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 412441 | 3.000%, 08/01/2030 | $405040 | 0.0 |
| 209769 | 3.000%, 09/01/2030 | 205481 | 0.0 |
| 543576 | 3.000%, 08/01/2035 | 523519 | 0.0 |
| 1241873 | 3.000%, 04/01/2043 | 1138274 | 0.0 |
| 1177889 | 3.000%, 07/01/2043 | 1078520 | 0.0 |
| 365272 | 3.000%, 08/01/2043 | 334867 | 0.0 |
| 246138 | 3.000%, 09/01/2043 | 225495 | 0.0 |
| 3972868 | 3.000%, 04/01/2045 | 3627991 | 0.0 |
| 776969 | 3.000%, 08/01/2046 | 703534 | 0.0 |
| 1685792 | 3.000%, 08/01/2046 | 1525870 | 0.0 |
| 571711 | 3.000%, 11/01/2046 | 517372 | 0.0 |
| 1278877 | 3.000%, 12/01/2046 | 1153654 | 0.0 |
| 4920630 | 3.000%, 12/01/2046 | 4447439 | 0.1 |
| 2905041 | 3.000%, 03/01/2047 | 2614362 | 0.0 |
| 17977364 | 3.000%, 10/01/2050 | 15941979 | 0.2 |
| 1657292 | 3.000%, 03/01/2051 | 1462995 | 0.0 |
| 3768725 | 3.000%, 01/01/2052 | 3344117 | 0.0 |
| 2938041 | 3.000%, 02/01/2052 | 2620469 | 0.0 |
| 3376221 | 3.000%, 02/01/2052 | 3006819 | 0.0 |
| 4111227 | 3.000%, 02/01/2052 | 3657359 | 0.0 |
| 4315568 | 3.000%, 02/01/2052 | 3853952 | 0.0 |
| 4379381 | 3.000%, 02/01/2052 | 3901537 | 0.0 |
| 9450492 | 3.000%, 02/01/2052 | 8413318 | 0.1 |
| 7963280 | 3.000%, 03/01/2052 | 7092676 | 0.1 |
| 12671961 | 3.000%, 03/01/2052 | 11258657 | 0.1 |
| 16439560 | 3.000%, 05/01/2052 | 14636921 | 0.1 |
| 53643000 <sup>(5)</sup> | 3.000%, 04/01/2056 | 47124944 | 0.4 |
| 8167219 | 3.500%, 06/01/2034 | 7979635 | 0.1 |
| 1498557 | 3.500%, 10/01/2042 | 1412995 | 0.0 |
| 642165 | 3.500%, 04/01/2043 | 605101 | 0.0 |
| 1843461 | 3.500%, 08/01/2043 | 1737058 | 0.0 |
| 1122132 | 3.500%, 03/01/2044 | 1055773 | 0.0 |
| 133628 | 3.500%, 01/01/2046 | 125683 | 0.0 |
| 102455 | 3.500%, 02/01/2046 | 96364 | 0.0 |
| 217287 | 3.500%, 02/01/2046 | 204597 | 0.0 |
| 609479 | 3.500%, 08/01/2047 | 569356 | 0.0 |
| 814139 | 3.500%, 09/01/2047 | 759023 | 0.0 |
| 10474945 | 3.500%, 11/01/2047 | 9841448 | 0.1 |
| 306551 | 3.500%, 12/01/2047 | 284567 | 0.0 |
| 570284 | 3.500%, 02/01/2048 | 529497 | 0.0 |
| 650292 | 3.500%, 05/01/2048 | 603516 | 0.0 |
| 5832025 | 3.500%, 07/01/2048 | 5467508 | 0.1 |
| 1473686 | 3.500%, 10/01/2049 | 1380422 | 0.0 |
| 1825451 | 3.500%, 02/01/2052 | 1695763 | 0.0 |
| 78551 | 4.000%, 03/01/2042 | 75858 | 0.0 |
| 71860 | 4.000%, 07/01/2042 | 69438 | 0.0 |
| 276703 | 4.000%, 07/01/2042 | 265916 | 0.0 |
| 572045 | 4.000%, 07/01/2042 | 552650 | 0.0 |
| 343366 | 4.000%, 09/01/2043 | 331597 | 0.0 |
| 977576 | 4.000%, 01/01/2045 | 940427 | 0.0 |
| 6180551 | 4.000%, 01/01/2045 | 5983927 | 0.1 |
| 701349 | 4.000%, 03/01/2045 | 670587 | 0.0 |
| 2432771 | 4.000%, 05/01/2045 | 2343080 | 0.0 |
| 723219 | 4.000%, 06/01/2045 | 696033 | 0.0 |
| 653554 | 4.000%, 11/01/2045 | 629797 | 0.0 |
| 1995791 | 4.000%, 02/01/2046 | 1920358 | 0.0 |
| 3568731 | 4.000%, 07/01/2047 | 3422038 | 0.0 |
| 314969 | 4.000%, 08/01/2047 | 301924 | 0.0 |
| 906856 | 4.000%, 08/01/2047 | 866782 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 40063 | 4.000%, 03/01/2048 | $38364 | 0.0 |
| 291150 | 4.000%, 03/01/2048 | 279003 | 0.0 |
| 2081981 | 4.000%, 09/01/2048 | 1991785 | 0.0 |
| 6489395 | 4.000%, 04/01/2049 | 6215069 | 0.1 |
| 7607856 | 4.000%, 05/01/2052 | 7226327 | 0.1 |
| 4564007 | 4.000%, 06/01/2052 | 4355362 | 0.0 |
| 2718317 | 4.000%, 11/01/2052 | 2612389 | 0.0 |
| 4463126 | 4.000%, 11/01/2052 | 4221232 | 0.0 |
| 8704468 | 4.000%, 12/01/2054 | 8221977 | 0.1 |
| 74099000 <sup>(5)</sup> | 4.000%, 04/01/2056 | 69931526 | 0.6 |
| 780724 | 4.250%, 11/01/2043 | 762186 | 0.0 |
| 56454 | 4.500%, 11/01/2040 | 55901 | 0.0 |
| 168793 | 4.500%, 11/01/2040 | 167140 | 0.0 |
| 1029612 | 4.500%, 11/01/2040 | 1019529 | 0.0 |
| 1835 | 4.500%, 12/01/2040 | 1817 | 0.0 |
| 3003 | 4.500%, 12/01/2040 | 2973 | 0.0 |
| 1844 | 4.500%, 01/01/2041 | 1822 | 0.0 |
| 3505 | 4.500%, 01/01/2041 | 3471 | 0.0 |
| 128893 | 4.500%, 10/01/2041 | 127392 | 0.0 |
| 232399 | 4.500%, 10/01/2044 | 227816 | 0.0 |
| 348366 | 4.500%, 12/01/2045 | 343656 | 0.0 |
| 245315 | 4.500%, 04/01/2047 | 242225 | 0.0 |
| 579802 | 4.500%, 04/01/2047 | 571908 | 0.0 |
| 1262972 | 4.500%, 04/01/2047 | 1244608 | 0.0 |
| 1774347 | 4.500%, 04/01/2047 | 1749644 | 0.0 |
| 450184 | 4.500%, 05/01/2047 | 440558 | 0.0 |
| 467960 | 4.500%, 05/01/2047 | 461363 | 0.0 |
| 718136 | 4.500%, 05/01/2047 | 707916 | 0.0 |
| 737783 | 4.500%, 05/01/2047 | 728273 | 0.0 |
| 759676 | 4.500%, 05/01/2047 | 749698 | 0.0 |
| 280495 | 4.500%, 06/01/2047 | 276219 | 0.0 |
| 404372 | 4.500%, 06/01/2047 | 398269 | 0.0 |
| 511383 | 4.500%, 06/01/2047 | 503216 | 0.0 |
| 1299267 | 4.500%, 07/01/2047 | 1279904 | 0.0 |
| 96645 | 4.500%, 08/01/2047 | 95160 | 0.0 |
| 5682417 | 4.500%, 08/01/2052 | 5531046 | 0.1 |
| 6721558 | 4.500%, 12/01/2054 | 6493619 | 0.1 |
| 20419000 <sup>(5)</sup> | 4.500%, 04/01/2056 | 19709236 | 0.2 |
| 929116 | 5.000%, 05/01/2042 | 939452 | 0.0 |
| 129419000 <sup>(5)</sup> | 5.000%, 04/01/2056 | 127653857 | 1.2 |
| 42657 | 5.500%, 03/01/2037 | 43718 | 0.0 |
| 53475 | 5.500%, 06/01/2039 | 55214 | 0.0 |
| 468605 | 5.500%, 10/01/2039 | 481853 | 0.0 |
| 40729436 | 5.500%, 06/01/2053 | 41089909 | 0.4 |
| 31687764 | 5.500%, 08/01/2053 | 31953690 | 0.3 |
| 2563855 | 5.500%, 04/01/2054 | 2583807 | 0.0 |
| 19474654 | 5.500%, 10/01/2054 | 19586520 | 0.2 |
| 2280367 | 5.500%, 02/01/2055 | 2293106 | 0.0 |
| 35849000 <sup>(5)</sup> | 5.500%, 04/01/2056 | 36019719 | 0.3 |
| 31552 | 6.000%, 09/01/2036 | 32519 | 0.0 |
| 423571 | 6.000%, 10/01/2053 | 433360 | 0.0 |
| 3153525 | 6.000%, 12/01/2053 | 3221776 | 0.0 |
| 1922434 | 6.000%, 05/01/2054 | 1963028 | 0.0 |
| 25183770 | 6.000%, 07/01/2054 | 25685280 | 0.2 |
| 19933708 | 6.000%, 09/01/2054 | 20338299 | 0.2 |
| 29994753 | 6.000%, 09/01/2054 | 30611151 | 0.3 |
| 21998980 | 6.000%, 04/01/2055 | 22437068 | 0.2 |
| 85 | 6.500%, 09/01/2031 | 88 | 0.0 |
| 303 | 6.500%, 09/01/2031 | 320 | 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)** |
| 6583 | 6.500%, 11/01/2031 | $| 6810 | 0.0 |
| 2406 | 6.500%, 04/01/2032 |  | 2488 | 0.0 |
| 796 | 6.500%, 08/01/2032 |  | 823 | 0.0 |
| 2567 | 6.500%, 08/01/2032 |  | 2655 | 0.0 |
| 1285 | 7.000%, 12/01/2027 |  | 1349 | 0.0 |
| 528 | 7.000%, 10/01/2031 |  | 555 | 0.0 |
| 297 | 7.500%, 09/01/2030 |  | 305 | 0.0 |
| 869 | 7.500%, 09/01/2031 |  | 894 | 0.0 |
| 7126 | 7.500%, 02/01/2032 |  | 7272 | 0.0 |
|  |  |  | **1624864826** | **14.4** |
|  | Total U.S. Government Agency Obligations <br> (Cost $2,318,665,687) |  | **2240639723** | **19.9** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.4%** |
| 1564000 <sup>(2)</sup><sup>(3)</sup> | Ajax Mortgage Loan Trust 2019-F A3, 3.500%, 07/25/2059 |  | 1493651 | 0.0 |
| 771610 <sup>(3)</sup> | Alternative Loan Trust 2004-J7 M1, 4.813%, (TSFR1M + 1.134%), 10/25/2034 |  | 768778 | 0.0 |
| 304612 <sup>(3)</sup> | Alternative Loan Trust 2005-53T2 2A6, 4.293%, (TSFR1M + 0.614%), 11/25/2035 |  | 149919 | 0.0 |
| 336347 | Alternative Loan Trust 2005-65CB 2A4, 5.500%, 12/25/2035 |  | 222093 | 0.0 |
| 766558 <sup>(3)</sup> | Alternative Loan Trust 2005-J2 1A12, 4.193%, (TSFR1M + 0.514%), 04/25/2035 |  | 600244 | 0.0 |
| 570654 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 |  | 265275 | 0.0 |
| 108941 <sup>(3)</sup> | Alternative Loan Trust 2006-18CB A10, 4.193%, (TSFR1M + 0.514%), 07/25/2036 |  | 39374 | 0.0 |
| 642968 <sup>(3)</sup> | Alternative Loan Trust 2006-19CB A28, 4.393%, (TSFR1M + 0.714%), 08/25/2036 |  | 274953 | 0.0 |
| 791279 <sup>(3)</sup> | Alternative Loan Trust 2007-23CB A3, 4.293%, (TSFR1M + 0.614%), 09/25/2037 |  | 264146 | 0.0 |
| 1759435 <sup>(3)</sup> | Alternative Loan Trust 2007-2CB 2A1, 4.393%, (TSFR1M + 0.714%), 03/25/2037 |  | 665916 | 0.0 |
| 817762 | Alternative Loan Trust 2007-3T1 1A11, 6.000%, 04/25/2037 |  | 348006 | 0.0 |
| 682501 <sup>(3)</sup> | Alternative Loan Trust 2007-8CB A3, 4.293%, (TSFR1M + 0.614%), 05/25/2037 |  | 273860 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 874148 <sup>(3)</sup> | American Home Mortgage Assets Trust 2007-4 A4, 4.373%, (TSFR1M + 0.694%), 08/25/2037 | $801047 | 0.0 |
| 359325 <sup>(2)</sup><sup>(3)</sup> | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 345988 | 0.0 |
| 426830 <sup>(3)</sup> | Banc of America Funding Trust 2007- 2 1A16, 4.393%, (TSFR1M + 0.714%), 03/25/2037 | 308808 | 0.0 |
| 500923 <sup>(6)</sup> | Banc of America Mortgage Trust 2007-2 A8, 6.000%, 05/25/2037 | 49634 | 0.0 |
| 2242052 <sup>(2)</sup><sup>(3)</sup> | Bayview MSR Opportunity Master Fund Trust 2022-2 AF, 4.512%, (SOFR30A + 0.850%), 12/25/2051 | 2094192 | 0.0 |
| 349426 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2005-4 23A1, 5.158%, 05/25/2035 | 338035 | 0.0 |
| 654578 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2005-7 21A1, 5.504%, 09/25/2035 | 507991 | 0.0 |
| 4430000 <sup>(2)</sup><sup>(3)</sup> | Bellemeade Re Ltd. 2024-1 M1C, 7.612%, (SOFR30A + 3.950%), 08/25/2034 | 4506738 | 0.1 |
| 1850768 <sup>(2)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust 2019-1 B3, 3.877%, 03/25/2050 | 1646604 | 0.0 |
| 2303955 <sup>(2)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust 2024-8 B3, 7.033%, 08/25/2055 | 2405785 | 0.0 |
| 575635 <sup>(2)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2025-9 A3, 5.500%, 06/25/2056 | 574650 | 0.0 |
| 427064 | CHL Mortgage Pass- Through Trust 2007-7 A7, 5.750%, 06/25/2037 | 188607 | 0.0 |
| 533438 <sup>(2)</sup><sup>(3)</sup> | CHNGE Mortgage Trust 2022-1 A1, 4.007%, 01/25/2067 | 514592 | 0.0 |
| 44772 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 42858 | 0.0 |
| 179562 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 163440 | 0.0 |
| 2489764 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2019-J2 B2, 3.764%, 10/25/2049 | 2269506 | 0.0 |
| 830692 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2019-J2 B3, 3.764%, 10/25/2049 | 757320 | 0.0 |
| 3100000 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2019- R5 M2, 3.250%, 09/25/2059 | 2895495 | 0.0 |
| 2810344 <sup>(2)</sup><sup>(3)</sup> | CIM Trust 2020-J1 B3, 3.435%, 10/25/2049 | 2455665 | 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)** |
| 599078 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | $548482 | 0.0 |
| 452187 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.354%, 11/25/2036 | 401885 | 0.0 |
| 209007 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2007- 10 22AA, 4.451%, 09/25/2037 | 198691 | 0.0 |
| 272693 <sup>(2)</sup><sup>(3)</sup> | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 270790 | 0.0 |
| 1208669 <sup>(2)</sup><sup>(3)</sup> | Citigroup Mortgage Loan Trust 2021- J2 B2W, 2.768%, 07/25/2051 | 1032062 | 0.0 |
| 1358461 <sup>(2)</sup><sup>(3)</sup> | Citigroup Mortgage Loan Trust 2021- J2 B3W, 2.768%, 07/25/2051 | 1154637 | 0.0 |
| 550553 <sup>(2)</sup><sup>(3)</sup> | Connecticut Avenue Securities Trust 2019- R05 1B1, 7.876%, (SOFR30A + 4.214%), 07/25/2039 | 555126 | 0.0 |
| 800000 <sup>(2)</sup><sup>(3)</sup> | Connecticut Avenue Securities Trust 2020- SBT1 1M2, 7.426%, (SOFR30A + 3.764%), 02/25/2040 | 818350 | 0.0 |
| 13600000 <sup>(2)</sup><sup>(3)</sup> | Connecticut Avenue Securities Trust 2022- R01 1B1, 6.812%, (SOFR30A + 3.150%), 12/25/2041 | 13729869 | 0.1 |
| 458495 <sup>(2)</sup> | CSMC Series 2008- 2R 1A1, 6.000%, 07/25/2037 | 400936 | 0.0 |
| 515363 <sup>(2)</sup><sup>(3)</sup> | CSMC Trust 2015-2 B3, 3.867%, 02/25/2045 | 496578 | 0.0 |
| 42818987 <sup>(3)</sup><sup>(6)</sup> | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 X, 0.742%, 04/25/2037 | 1826823 | 0.0 |
| 4578457 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 6.776%, (SOFR30A + 3.114%), 01/25/2040 | 4638165 | 0.1 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 6.962%, (SOFR30A + 3.300%), 11/25/2041 | 2536109 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 10.662%, (SOFR30A + 7.000%), 04/25/2042 | $1054590 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R09 2B1, 10.412%, (SOFR30A + 6.750%), 09/25/2042 | 1073678 | 0.0 |
| 4000000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 9.012%, (SOFR30A + 5.350%), 05/25/2043 | 4279258 | 0.1 |
| 7418600 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 8.412%, (SOFR30A + 4.750%), 06/25/2043 | 7863594 | 0.1 |
| 2210000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R07 2B1, 8.162%, (SOFR30A + 4.500%), 09/25/2043 | 2353072 | 0.0 |
| 9300000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R07 2M2, 6.912%, (SOFR30A + 3.250%), 09/25/2043 | 9565294 | 0.1 |
| 3200000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 6.462%, (SOFR30A + 2.800%), 03/25/2044 | 3304786 | 0.0 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2M2, 5.612%, (SOFR30A + 1.950%), 03/25/2044 | 1504360 | 0.0 |
| 8400000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 5.862%, (SOFR30A + 2.200%), 05/25/2044 | 8499469 | 0.1 |
| 2825000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1M2, 5.312%, (SOFR30A + 1.650%), 05/25/2044 | 2824939 | 0.0 |
| 10950000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 5.612%, (SOFR30A + 1.950%), 02/25/2045 | 10973558 | 0.1 |
| 7248000 <sup>(2)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2026-R02 1M2, 5.162%, (SOFR30A + 1.500%), 02/25/2046 | 7294492 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1874 <sup>(3)</sup> | Fannie Mae Grantor Trust 1998-T2 A6, 0.027%, (US0001M + 0.550%), 01/25/2032 | $1873 | 0 |
| 92604 <sup>(6)</sup> | Fannie Mae Interest Strip 418 20, 3.000%, 05/25/2043 | 12166 | 0 |
| 87976 <sup>(6)</sup> | Fannie Mae Interest Strip 418 59, 3.000%, 08/25/2028 | 1700 | 0 |
| 6878185 <sup>(6)</sup> | Fannie Mae Interest Strip 425 C3, 3.500%, 04/25/2049 | 1270698 | 0 |
| 72429875 <sup>(6)</sup> | Fannie Mae Interest Strip 428 C28, 2.000%, 07/25/2037 | 3668037 | 0.1 |
| 112523002 <sup>(6)</sup> | Fannie Mae Interest Strip 440 C50, 4.500%, 10/25/2053 | 25989933 | 0.3 |
| 16148 | Fannie Mae REMIC Trust 1999-33 Z, 6.000%, 07/25/2029 | 16392 | 0 |
| 85395 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2001- 72 SC, 1.000%, (-1.000\*SOFR30A + 8.386%), 12/25/2031 | 1538 | 0 |
| 337 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2001- 8 SK, 4.964%, (-1.000\*SOFR30A + 8.636%), 03/18/2031 | 2 | 0 |
| 2217845 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 | 2229463 | 0 |
| 327178 | Fannie Mae REMIC Trust 2003-105 AZ, 5.500%, 10/25/2033 | 337188 | 0 |
| 145538 <sup>(3)</sup> | Fannie Mae REMIC Trust 2003-45 FJ, 5.283%, (SOFR30A + 1.614%), 06/25/2033 | 148306 | 0 |
| 332597 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2003- 49 SW, 3.224%, (-1.000\*SOFR30A + 6.886%), 01/25/2033 | 24761 | 0 |
| 462870 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2003- 66 SA, 3.874%, (-1.000\*SOFR30A + 7.536%), 07/25/2033 | 47936 | 0 |
| 92240 <sup>(6)</sup> | Fannie Mae REMIC Trust 2003-74 IO, 6.000%, 08/25/2033 | 13335 | 0 |
| 193096 | Fannie Mae REMIC Trust 2003-84 PZ, 5.000%, 09/25/2033 | 195988 | 0 |
| 384697 | Fannie Mae REMIC Trust 2004-50 VZ, 5.500%, 07/25/2034 | 397366 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1510853 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2004- 54 SN, 3.274%, (-1.000\*SOFR30A + 6.936%), 07/25/2034 | $94027 | 0.0 |
| 18955 <sup>(3)</sup> | Fannie Mae REMIC Trust 2004-56 FE, 4.226%, (SOFR30A + 0.564%), 10/25/2033 | 18914 | 0.0 |
| 136118 | Fannie Mae REMIC Trust 2004-7 Z, 5.500%, 02/25/2034 | 139991 | 0.0 |
| 325428 | Fannie Mae REMIC Trust 2004-75 ZG, 4.500%, 10/25/2034 | 324203 | 0.0 |
| 946827 | Fannie Mae REMIC Trust 2005-25 Z, 5.000%, 04/25/2035 | 960874 | 0.0 |
| 3506007 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2005- 75 ES, 2.274%, (-1.000\*SOFR30A + 5.936%), 09/25/2035 | 237152 | 0.0 |
| 200679 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2005- 75 SP, 2.974%, (-1.000\*SOFR30A + 6.636%), 08/25/2035 | 7591 | 0.0 |
| 45026 <sup>(3)</sup> | Fannie Mae REMIC Trust 2006-104 ES, 14.568%, (-1.000\*SOFR30A + 32.878%), 11/25/2036 | 57298 | 0.0 |
| 494259 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2006- 12 SD, 2.974%, (-1.000\*SOFR30A + 6.636%), 10/25/2035 | 28867 | 0.0 |
| 259192 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2006- 123 UI, 2.964%, (-1.000\*SOFR30A + 6.626%), 01/25/2037 | 22613 | 0.0 |
| 757034 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2006- 56 SM, 2.974%, (-1.000\*SOFR30A + 6.636%), 07/25/2036 | 49024 | 0.0 |
| 1607 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2006- 72 HS, 2.924%, (-1.000\*SOFR30A + 6.586%), 08/25/2026 | 8 | 0.0 |
| 15823 | Fannie Mae REMIC Trust 2007-10 Z, 6.000%, 02/25/2037 | 16512 | 0.0 |
| 287155 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2007- 21 SB, 2.624%, (-1.000\*SOFR30A + 6.286%), 03/25/2037 | 23200 | 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)** |
| 683852 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2007- 52 NS, 2.674%, (-1.000\*SOFR30A + 6.336%), 06/25/2037 | $61525 | 0.0 |
| 461273 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2007- 85 SM, 2.684%, (-1.000\*SOFR30A + 6.346%), 09/25/2037 | 40281 | 0.0 |
| 1123599 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2007- 91 AS, 2.624%, (-1.000\*SOFR30A + 6.286%), 10/25/2037 | 95864 | 0.0 |
| 1230170 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2008- 12 SC, 2.574%, (-1.000\*SOFR30A + 6.236%), 03/25/2038 | 82147 | 0.0 |
| 140495 | Fannie Mae REMIC Trust 2008-16 Z, 5.500%, 03/25/2038 | 144987 | 0.0 |
| 578431 | Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036 | 579239 | 0.0 |
| 3461190 <sup>(3)</sup> | Fannie Mae REMIC Trust 2009-50 HZ, 5.533%, 02/25/2049 | 3493724 | 0.0 |
| 2628852 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2009- 66 SP, 2.324%, (-1.000\*SOFR30A + 5.986%), 09/25/2039 | 144622 | 0.0 |
| 678420 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2009- 90 TS, 2.374%, (-1.000\*SOFR30A + 6.036%), 11/25/2039 | 53525 | 0.0 |
| 1999984 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 1 S, 2.474%, (-1.000\*SOFR30A + 6.136%), 02/25/2040 | 174610 | 0.0 |
| 5553868 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 107 SB, 2.814%, (-1.000\*SOFR30A + 6.476%), 09/25/2040 | 522172 | 0.0 |
| 1434787 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 123 SL, 2.294%, (-1.000\*SOFR30A + 5.956%), 11/25/2040 | 89118 | 0.0 |
| 3022875 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 150 SJ, 2.704%, (-1.000\*SOFR30A + 6.366%), 01/25/2041 | 272857 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 645818 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 35 CS, 2.674%, (-1.000\*SOFR30A + 6.336%), 04/25/2050 | $64012 | 0.0 |
| 3141225 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 41 SB, 2.624%, (-1.000\*SOFR30A + 6.286%), 05/25/2040 | 219004 | 0.0 |
| 542896 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2010- 43 VS, 2.674%, (-1.000\*SOFR30A + 6.336%), 05/25/2040 | 40218 | 0.0 |
| 1364063 | Fannie Mae REMIC Trust 2010-53 JZ, 5.000%, 07/25/2040 | 1350799 | 0.0 |
| 3210258 | Fannie Mae REMIC Trust 2010-59 PC, 5.000%, 06/25/2040 | 3247723 | 0.0 |
| 618055 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 624507 | 0.0 |
| 3432943 | Fannie Mae REMIC Trust 2011-101 DB, 4.000%, 10/25/2041 | 3352083 | 0.0 |
| 405088 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2011- 102 SA, 2.824%, (-1.000\*SOFR30A + 6.486%), 10/25/2041 | 43905 | 0.0 |
| 2095466 | Fannie Mae REMIC Trust 2011-116 ZA, 3.500%, 11/25/2041 | 1993148 | 0.0 |
| 44681 | Fannie Mae REMIC Trust 2011-127 UY, 3.500%, 12/25/2041 | 42235 | 0.0 |
| 5114678 | Fannie Mae REMIC Trust 2011-136 PZ, 4.000%, 01/25/2042 | 4917725 | 0.1 |
| 1656113 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 1682083 | 0.0 |
| 3422067 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2011- 47 GS, 2.154%, (-1.000\*SOFR30A + 5.816%), 06/25/2041 | 198555 | 0.0 |
| 1715939 | Fannie Mae REMIC Trust 2011-8 ZA, 4.000%, 02/25/2041 | 1666959 | 0.0 |
| 7160766 | Fannie Mae REMIC Trust 2011-84 Z, 5.250%, 09/25/2041 | 7274148 | 0.1 |
| 6254277 | Fannie Mae REMIC Trust 2011-87 GB, 4.500%, 09/25/2041 | 6206781 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1033378 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2011- 93 GS, 2.774%, (-1.000\*SOFR30A + 6.436%), 04/25/2039 | $94998 | 0.0 |
| 5181318 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 5131466 | 0.1 |
| 293780 | Fannie Mae REMIC Trust 2012-110 CA, 3.000%, 10/25/2042 | 270023 | 0.0 |
| 1155168 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 111 SL, 2.324%, (-1.000\*SOFR30A + 5.986%), 05/25/2041 | 93165 | 0.0 |
| 2338561 | Fannie Mae REMIC Trust 2012-111 ZK, 3.500%, 10/25/2042 | 2195081 | 0.0 |
| 476849 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-120 WI, 3.000%, 11/25/2027 | 6858 | 0.0 |
| 2226624 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 122 SB, 2.374%, (-1.000\*SOFR30A + 6.036%), 11/25/2042 | 237022 | 0.0 |
| 581166 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-128 LI, 3.500%, 06/25/2042 | 19812 | 0.0 |
| 2610028 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 133 AS, 2.424%, (-1.000\*SOFR30A + 6.086%), 10/25/2042 | 254267 | 0.0 |
| 9146039 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 133 NS, 2.374%, (-1.000\*SOFR30A + 6.036%), 12/25/2042 | 934895 | 0.0 |
| 314058 <sup>(6)</sup> | Fannie Mae REMIC Trust 2012-149 GI, 3.500%, 06/25/2042 | 22053 | 0.0 |
| 10446134 | Fannie Mae REMIC Trust 2012-15 PZ, 4.000%, 03/25/2042 | 10115730 | 0.1 |
| 1221082 | Fannie Mae REMIC Trust 2012-153 B, 7.000%, 07/25/2042 | 1325961 | 0.0 |
| 2868463 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 2788078 | 0.0 |
| 2583291 | Fannie Mae REMIC Trust 2012-2 HE, 4.000%, 02/25/2042 | 2527814 | 0.0 |
| 78468 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 24 HS, 2.774%, (-1.000\*SOFR30A + 6.436%), 09/25/2040 | 538 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 593850 | Fannie Mae REMIC Trust 2012-30 AB, 4.000%, 04/25/2042 | $576638 | 0.0 |
| 944938 | Fannie Mae REMIC Trust 2012-33 BW, 4.000%, 04/25/2042 | 908869 | 0.0 |
| 3492 | Fannie Mae REMIC Trust 2012-44 KW, 3.500%, 05/25/2032 | 3300 | 0.0 |
| 1299729 | Fannie Mae REMIC Trust 2012-55 PC, 3.500%, 05/25/2042 | 1226120 | 0.0 |
| 3214838 | Fannie Mae REMIC Trust 2012-63 MW, 4.000%, 05/25/2034 | 3204238 | 0.0 |
| 5919751 | Fannie Mae REMIC Trust 2012-66 EP, 4.000%, 06/25/2042 | 5705466 | 0.1 |
| 297631 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2012- 68 YS, 2.924%, (-1.000\*SOFR30A + 6.586%), 07/25/2042 | 30329 | 0.0 |
| 500000 | Fannie Mae REMIC Trust 2012-80 MY, 3.250%, 08/25/2042 | 447817 | 0.0 |
| 10043386 | Fannie Mae REMIC Trust 2012-94 LZ, 3.500%, 09/25/2042 | 9465771 | 0.1 |
| 1462057 | Fannie Mae REMIC Trust 2013-111 BA, 3.000%, 11/25/2033 | 1404638 | 0.0 |
| 1008472 | Fannie Mae REMIC Trust 2013-116 UB, 4.000%, 11/25/2043 | 967005 | 0.0 |
| 1403000 | Fannie Mae REMIC Trust 2013-13 BE, 4.000%, 03/25/2043 | 1335682 | 0.0 |
| 818275 | Fannie Mae REMIC Trust 2013-20 DL, 4.000%, 03/25/2033 | 801054 | 0.0 |
| 454590 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2013- 26 JS, 2.424%, (-1.000\*SOFR30A + 6.086%), 10/25/2032 | 14585 | 0.0 |
| 2769342 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2013- 40 LS, 2.374%, (-1.000\*SOFR30A + 6.036%), 05/25/2043 | 282147 | 0.0 |
| 9393499 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-44 DI, 3.000%, 05/25/2033 | 657491 | 0.0 |
| 2408669 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2013- 60 DS, 2.424%, (-1.000\*SOFR30A + 6.086%), 06/25/2033 | 143255 | 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)** |
| 2817376 <sup>(6)</sup> | Fannie Mae REMIC Trust 2013-70 BI, 3.000%, 07/25/2033 | $199142 | 0.0 |
| 4357639 | Fannie Mae REMIC Trust 2013-70 JZ, 3.000%, 07/25/2043 | 4003584 | 0.1 |
| 552706 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2013- 72 YS, 2.374%, (-1.000\*SOFR30A + 6.036%), 07/25/2033 | 31176 | 0.0 |
| 2126212 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2013- 9 SM, 2.474%, (-1.000\*SOFR30A + 6.136%), 02/25/2033 | 109953 | 0.0 |
| 3893196 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2014- 15 SB, 2.874%, (-1.000\*SOFR30A + 6.536%), 04/25/2044 | 395768 | 0.0 |
| 167376 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2014- 17 DS, 2.424%, (-1.000\*SOFR30A + 6.086%), 02/25/2043 | 1792 | 0.0 |
| 526456 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2014- 28 BS, 2.424%, (-1.000\*SOFR30A + 6.086%), 08/25/2043 | 27336 | 0.0 |
| 970000 | Fannie Mae REMIC Trust 2014-61 PY, 3.500%, 10/25/2044 | 877693 | 0.0 |
| 3675905 <sup>(6)</sup> | Fannie Mae REMIC Trust 2014-70 IO, 5.500%, 10/25/2044 | 516918 | 0.0 |
| 17563231 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2014- 79 KS, 2.374%, (-1.000\*SOFR30A + 6.036%), 12/25/2044 | 1867119 | 0.0 |
| 16279525 | Fannie Mae REMIC Trust 2015-20 EZ, 3.500%, 04/25/2045 | 15464352 | 0.2 |
| 2567201 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-56 IC, 6.000%, 08/25/2045 | 379694 | 0.0 |
| 2000000 | Fannie Mae REMIC Trust 2015-67 AV, 3.500%, 01/25/2036 | 1900142 | 0.0 |
| 431449 | Fannie Mae REMIC Trust 2015-67 QV, 3.000%, 12/25/2040 | 428478 | 0.0 |
| 1022066 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-76 PI, 6.000%, 09/25/2045 | 137224 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 17989259 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2015- 79 SA, 2.474%, (-1.000\*SOFR30A + 6.136%), 11/25/2045 | $1602518 | 0.0 |
| 8436008 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2015- 86 BS, 1.924%, (-1.000\*SOFR30A + 5.586%), 11/25/2045 | 448493 | 0.0 |
| 16277754 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-88 IO, 6.500%, 12/25/2045 | 3584187 | 0.1 |
| 7000374 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-9 IO, 5.500%, 03/25/2045 | 1299765 | 0.0 |
| 3171375 <sup>(6)</sup> | Fannie Mae REMIC Trust 2015-97 BI, 5.500%, 01/25/2046 | 469821 | 0.0 |
| 1868349 <sup>(6)</sup> | Fannie Mae REMIC Trust 2016-104 BI, 6.000%, 01/25/2047 | 296932 | 0.0 |
| 3466789 <sup>(6)</sup> | Fannie Mae REMIC Trust 2016-52 MI, 4.000%, 12/25/2045 | 486669 | 0.0 |
| 10124892 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2016- 60 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 09/25/2046 | 771783 | 0.0 |
| 11725794 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2016- 81 CS, 2.324%, (-1.000\*SOFR30A + 5.986%), 11/25/2046 | 708110 | 0.0 |
| 8782129 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2016- 82 SD, 2.274%, (-1.000\*SOFR30A + 5.936%), 11/25/2046 | 676738 | 0.0 |
| 266449 | Fannie Mae REMIC Trust 2016-9 D, 3.000%, 03/25/2046 | 243884 | 0.0 |
| 11568617 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2017- 10 SA, 2.324%, (-1.000\*SOFR30A + 5.986%), 03/25/2047 | 875286 | 0.0 |
| 5414256 | Fannie Mae REMIC Trust 2017-108 ZD, 3.000%, 01/25/2048 | 4433019 | 0.1 |
| 3433200 | Fannie Mae REMIC Trust 2017-54 D, 3.000%, 07/25/2047 | 3085405 | 0.0 |
| 17514918 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2018- 15 SC, 2.524%, (-1.000\*SOFR30A + 6.186%), 03/25/2048 | 1595373 | 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)** |
| 2447352 | Fannie Mae REMIC Trust 2018-26 KA, 3.500%, 04/25/2048 | $2220710 | 0.0 |
| 844256 | Fannie Mae REMIC Trust 2018-38 LA, 3.000%, 06/25/2048 | 754547 | 0.0 |
| 8080708 | Fannie Mae REMIC Trust 2018-73 AB, 3.000%, 10/25/2048 | 7412390 | 0.1 |
| 830110 | Fannie Mae REMIC Trust 2018-8 AB, 3.500%, 10/25/2047 | 793002 | 0.0 |
| 20442395 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2018- 82 SA, 2.424%, (-1.000\*SOFR30A + 6.086%), 11/25/2048 | 1663439 | 0.0 |
| 4401651 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2018- 86 AS, 2.424%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | 301359 | 0.0 |
| 20911862 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2018- 86 SM, 2.424%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | 1616016 | 0.0 |
| 22717728 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2018- 91 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 12/25/2058 | 2848222 | 0.0 |
| 7944134 <sup>(6)</sup> | Fannie Mae REMIC Trust 2019-21 AI, 5.000%, 05/25/2059 | 2365328 | 0.0 |
| 6256195 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 30 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 07/25/2049 | 623708 | 0.0 |
| 10205981 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 34 BS, 2.274%, (-1.000\*SOFR30A + 5.936%), 07/25/2049 | 1071010 | 0.0 |
| 4849097 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 39 SA, 2.324%, (-1.000\*SOFR30A + 5.986%), 08/25/2049 | 420821 | 0.0 |
| 35845102 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 41 S, 2.224%, (-1.000\*SOFR30A + 5.886%), 08/25/2059 | 3534841 | 0.1 |
| 3606643 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 47 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 05/25/2040 | 304055 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 10196936 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2019- 79 SB, 2.224%, (-1.000\*SOFR30A + 5.886%), 01/25/2050 | $1041582 | 0.0 |
| 5399185 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2020- 10 SE, 2.224%, (-1.000\*SOFR30A + 5.886%), 03/25/2050 | 551508 | 0.0 |
| 38223532 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-34 IO, 4.500%, 06/25/2050 | 8738458 | 0.1 |
| 12896857 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-35 IO, 5.000%, 06/25/2050 | 1700683 | 0.0 |
| 17532670 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-44 DI, 2.500%, 07/25/2050 | 2178947 | 0.0 |
| 7761063 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-44 EI, 3.500%, 09/25/2042 | 1203239 | 0.0 |
| 6716045 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-50 IO, 4.500%, 03/25/2050 | 1748968 | 0.0 |
| 7182783 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-53 CI, 4.500%, 08/25/2050 | 1680444 | 0.0 |
| 25247527 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-57 IB, 4.500%, 08/25/2050 | 5471236 | 0.1 |
| 18402835 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-74 GI, 5.000%, 10/25/2050 | 3390351 | 0.0 |
| 50531539 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-87 AI, 2.000%, 12/25/2050 | 6685795 | 0.1 |
| 25382448 <sup>(6)</sup> | Fannie Mae REMIC Trust 2020-99 IB, 3.500%, 05/25/2050 | 4792119 | 0.1 |
| 38985999 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-1 BI, 3.000%, 02/25/2049 | 6251999 | 0.1 |
| 110116120 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-10 AI, 3.000%, 03/25/2041 | 10843283 | 0.1 |
| 21572314 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-22 BI, 4.000%, 04/25/2051 | 4516565 | 0.1 |
| 10667805 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-4 IV, 4.500%, 06/25/2050 | 2485500 | 0.0 |
| 25877731 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-41 MI, 5.000%, 06/25/2048 | 4313097 | 0.1 |
| 30104165 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2021- 55 SA, 0.153%, (-1.000\*SOFR30A + 3.150%), 08/25/2061 | 416870 | 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)** |
| 65527018 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-77 AI, 3.500%, 11/25/2051 | $13941007 | 0.1 |
| 101420576 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-78 AI, 3.000%, 11/25/2051 | 17015619 | 0.2 |
| 20135312 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-8 TI, 4.000%, 03/25/2051 | 4260413 | 0.1 |
| 14747409 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-81 LI, 2.500%, 11/25/2051 | 2089772 | 0.0 |
| 50979806 <sup>(6)</sup> | Fannie Mae REMIC Trust 2021-93 AI, 3.000%, 01/25/2052 | 8331818 | 0.1 |
| 66963653 <sup>(6)</sup> | Fannie Mae REMIC Trust 2022-52 IO, 4.000%, 05/25/2050 | 12324560 | 0.1 |
| 2935868 | Fannie Mae REMIC Trust 2022-55 PA, 4.000%, 10/25/2051 | 2895986 | 0.0 |
| 4674480 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-11 GI, 6.500%, 04/25/2053 | 905921 | 0.0 |
| 20465287 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-2 HI, 6.500%, 02/25/2053 | 4144505 | 0.1 |
| 27748012 <sup>(6)</sup> | Fannie Mae REMIC Trust 2023-23 AI, 4.000%, 12/25/2051 | 5793158 | 0.1 |
| 13450915 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2024- 32 SG, 2.268%, (-1.000\*SOFR30A + 5.936%), 04/25/2042 | 995470 | 0.0 |
| 62941444 <sup>(6)</sup> | Fannie Mae REMIC Trust 2024-7 IO, 3.000%, 07/25/2038 | 5505035 | 0.1 |
| 10529920 | Fannie Mae REMIC Trust 2024-89 NZ, 5.500%, 12/25/2054 | 10452694 | 0.1 |
| 218831258 <sup>(3)</sup><sup>(6)</sup> | Fannie Mae REMIC Trust 2026- 22 SA, 1.988%, (-1.000\*SOFR30A + 5.650%), 04/25/2056 | 20243215 | 0.2 |
| 505244 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A11, 6.000%, 02/25/2037 | 175080 | 0.0 |
| 1432311 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-1 B1, 3.910%, 03/25/2048 | 1323353 | 0.0 |
| 1867734 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-1 B3, 3.910%, 03/25/2048 | 1713396 | 0.0 |
| 1024871 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-2 B2, 4.004%, 04/25/2048 | 945684 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 529075 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | $494266 | 0.0 |
| 781188 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.124%, 07/25/2048 | 719501 | 0.0 |
| 2377946 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-6RR B3, 4.903%, 10/25/2048 | 2319964 | 0.0 |
| 1245444 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2019-2 B2, 4.004%, 12/25/2049 | 1143611 | 0.0 |
| 1772512 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2020-1INV B1A, 4.177%, 03/25/2050 | 1635430 | 0.0 |
| 2145491 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.177%, 03/25/2050 | 1973522 | 0.0 |
| 1354115 <sup>(2)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2021-6INV B1, 3.476%, 08/25/2051 | 1179701 | 0.0 |
| 1524284 | Freddie Mac Reference REMIC R007 ZA, 6.000%, 05/15/2036 | 1590329 | 0.0 |
| 607500 | Freddie Mac Reference REMIC R008 ZA, 6.000%, 07/15/2036 | 631821 | 0.0 |
| 13377 | Freddie Mac REMIC Trust 2110 PG, 6.000%, 01/15/2029 | 13477 | 0.0 |
| 13210 | Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029 | 13387 | 0.0 |
| 108283 | Freddie Mac REMIC Trust 2143 ZB, 6.000%, 04/15/2029 | 110580 | 0.0 |
| 72343 | Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032 | 74198 | 0.0 |
| 24344 <sup>(6)</sup> | Freddie Mac REMIC Trust 2594 IY, 6.000%, 04/15/2033 | 3343 | 0.0 |
| 199082 | Freddie Mac REMIC Trust 2845 QH, 5.000%, 08/15/2034 | 201352 | 0.0 |
| 38301 | Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034 | 39068 | 0.0 |
| 68865 | Freddie Mac REMIC Trust 2930 ZL, 5.000%, 02/15/2035 | 69607 | 0.0 |
| 413021 | Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035 | 417567 | 0.0 |
| 334240 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3006 SI, 2.953%, (-1.000\*SOFR30A + 6.626%), 07/15/2035 | 27867 | 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)** |
| 307925 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3006 YI, 2.953%, (-1.000\*SOFR30A + 6.626%), 07/15/2035 | $25622 | 0.0 |
| 1935267 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3045 DI, 2.943%, (-1.000\*SOFR30A + 6.616%), 10/15/2035 | 142955 | 0.0 |
| 405242 | Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036 | 417299 | 0.0 |
| 244708 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3171 PS, 2.698%, (-1.000\*SOFR30A + 6.371%), 06/15/2036 | 16397 | 0.0 |
| 2159153 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3199 S, 2.663%, (-1.000\*SOFR30A + 6.336%), 08/15/2036 | 184092 | 0.0 |
| 2007858 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3213 JS, 3.413%, (-1.000\*SOFR30A + 7.086%), 09/15/2036 | 214391 | 0.0 |
| 6366879 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3346 SC, 2.763%, (-1.000\*SOFR30A + 6.436%), 10/15/2033 | 445934 | 0.0 |
| 195145 | Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037 | 200331 | 0.0 |
| 547394 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3375 QI, 0.600%, (-1.000\*SOFR30A + 63.455%), 10/15/2037 | 10164 | 0.0 |
| 26699 | Freddie Mac REMIC Trust 3394 ZY, 6.000%, 11/15/2037 | 27667 | 0.0 |
| 3306564 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3510 AS, 2.623%, (-1.000\*SOFR30A + 6.296%), 04/15/2037 | 283057 | 0.0 |
| 72269 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3524 LA, 5.523%, 03/15/2033 | 73072 | 0.0 |
| 4990 <sup>(3)</sup> | Freddie Mac REMIC Trust 3556 NT, 6.887%, (SOFR30A + 3.214%), 03/15/2038 | 5171 | 0.0 |
| 3272624 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3629 CS, 2.563%, (-1.000\*SOFR30A + 6.236%), 01/15/2040 | 300887 | 0.0 |
| 2030751 | Freddie Mac REMIC Trust 3639 ZN, 5.500%, 12/15/2034 | 2081912 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 392982 | Freddie Mac REMIC Trust 3662 ZB, 5.500%, 08/15/2036 | $403419 | 0.0 |
| 147387 | Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037 | 151579 | 0.0 |
| 1484629 | Freddie Mac REMIC Trust 3736 ZP, 4.000%, 10/15/2040 | 1434988 | 0.0 |
| 1111946 | Freddie Mac REMIC Trust 3740 KE, 4.000%, 10/15/2040 | 1066379 | 0.0 |
| 13251685 | Freddie Mac REMIC Trust 3753 KZ, 4.500%, 11/15/2040 | 13140701 | 0.1 |
| 3560689 | Freddie Mac REMIC Trust 3775 GZ, 4.500%, 12/15/2040 | 3524542 | 0.1 |
| 1525588 | Freddie Mac REMIC Trust 3820 NC, 4.500%, 03/15/2041 | 1514358 | 0.0 |
| 864730 | Freddie Mac REMIC Trust 3843 JZ, 5.100%, 04/15/2041 | 880277 | 0.0 |
| 282298 | Freddie Mac REMIC Trust 3848 WX, 5.000%, 04/15/2041 | 285977 | 0.0 |
| 406366 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3856 KS, 2.763%, (-1.000\*SOFR30A + 6.436%), 05/15/2041 | 39675 | 0.0 |
| 1289778 | Freddie Mac REMIC Trust 3893 PU, 4.000%, 07/15/2041 | 1257413 | 0.0 |
| 2674800 | Freddie Mac REMIC Trust 3919 BY, 4.000%, 09/15/2041 | 2600322 | 0.0 |
| 5400495 | Freddie Mac REMIC Trust 3919 ZB, 4.000%, 09/15/2041 | 5238058 | 0.1 |
| 2098997 | Freddie Mac REMIC Trust 3923 GY, 4.000%, 09/15/2041 | 2052892 | 0.0 |
| 52240 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3925 SD, 2.263%, (-1.000\*SOFR30A + 5.936%), 07/15/2040 | 547 | 0.0 |
| 140451 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 3925 SL, 2.263%, (-1.000\*SOFR30A + 5.936%), 01/15/2041 | 842 | 0.0 |
| 1044066 | Freddie Mac REMIC Trust 3934 CB, 4.000%, 10/15/2041 | 1009209 | 0.0 |
| 446897 | Freddie Mac REMIC Trust 3934 KB, 5.000%, 10/15/2041 | 457302 | 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)** |
| 3460267 | Freddie Mac REMIC Trust 3982 LZ, 4.000%, 01/15/2042 | $3326002 | 0.0 |
| 520500 | Freddie Mac REMIC Trust 3997 PB, 4.000%, 02/15/2042 | 506841 | 0.0 |
| 83266 | Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042 | 83077 | 0.0 |
| 1533667 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4057 SN, 2.863%, (-1.000\*SOFR30A + 6.536%), 12/15/2041 | 109290 | 0.0 |
| 1873630 | Freddie Mac REMIC Trust 4057 ZB, 3.500%, 06/15/2042 | 1765709 | 0.0 |
| 8530033 | Freddie Mac REMIC Trust 4084 TZ, 4.000%, 07/15/2042 | 8199840 | 0.1 |
| 543792 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4088 CS, 2.213%, (-1.000\*SOFR30A + 5.886%), 08/15/2042 | 51509 | 0.0 |
| 794571 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4090 SN, 2.913%, (-1.000\*SOFR30A + 6.586%), 08/15/2032 | 50366 | 0.0 |
| 348164 | Freddie Mac REMIC Trust 4100 JA, 3.500%, 10/15/2041 | 336429 | 0.0 |
| 6119644 <sup>(6)</sup> | Freddie Mac REMIC Trust 4136 IE, 4.000%, 08/15/2042 | 1115289 | 0.0 |
| 2263144 <sup>(6)</sup> | Freddie Mac REMIC Trust 4161 WI, 3.000%, 02/15/2033 | 151267 | 0.0 |
| 2490639 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4191 SA, 2.413%, (-1.000\*SOFR30A + 6.086%), 03/15/2043 | 186163 | 0.0 |
| 2128000 | Freddie Mac REMIC Trust 4193 BP, 4.000%, 04/15/2043 | 1979040 | 0.0 |
| 1378300 <sup>(6)</sup> | Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043 | 205050 | 0.0 |
| 1792949 | Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033 | 1746679 | 0.0 |
| 1529994 | Freddie Mac REMIC Trust 4235 QD, 3.000%, 08/15/2033 | 1471045 | 0.0 |
| 708452 | Freddie Mac REMIC Trust 4246 ZX, 4.500%, 04/15/2041 | 701466 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 514986 <sup>(6)</sup> | Freddie Mac REMIC Trust 4293 KI, 4.500%, 08/15/2043 | $53040 | 0.0 |
| 13518181 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4301 SD, 2.313%, (-1.000\*SOFR30A + 5.986%), 07/15/2037 | 875578 | 0.0 |
| 5938015 | Freddie Mac REMIC Trust 4310 BZ, 4.000%, 02/15/2044 | 5722605 | 0.1 |
| 3690555 | Freddie Mac REMIC Trust 4316 XZ, 4.500%, 03/15/2044 | 3641265 | 0.1 |
| 3668190 | Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044 | 3604068 | 0.1 |
| 8465723 | Freddie Mac REMIC Trust 4348 ZX, 4.250%, 06/15/2044 | 8311139 | 0.1 |
| 1918236 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4386 LS, 2.313%, (-1.000\*SOFR30A + 5.986%), 09/15/2044 | 180076 | 0.0 |
| 1917065 | Freddie Mac REMIC Trust 4401 BL, 3.500%, 10/15/2034 | 1868037 | 0.0 |
| 5906912 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4407 CS, 2.413%, (-1.000\*SOFR30A + 6.086%), 06/15/2044 | 430820 | 0.0 |
| 8417201 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4407 PS, 1.813%, (-1.000\*SOFR30A + 5.486%), 06/15/2044 | 456690 | 0.0 |
| 6969357 | Freddie Mac REMIC Trust 4444 CZ, 3.000%, 02/15/2045 | 6287024 | 0.1 |
| 8294415 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4461 AS, 1.813%, (-1.000\*SOFR30A + 5.486%), 04/15/2045 | 521574 | 0.0 |
| 3124000 | Freddie Mac REMIC Trust 4492 VB, 3.500%, 05/15/2035 | 3020587 | 0.0 |
| 2913000 | Freddie Mac REMIC Trust 4505 PB, 3.000%, 08/15/2045 | 2644411 | 0.0 |
| 8068266 | Freddie Mac REMIC Trust 4545 PL, 3.500%, 01/15/2046 | 7254423 | 0.1 |
| 8837778 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4574 ST, 2.213%, (-1.000\*SOFR30A + 5.886%), 04/15/2046 | 945303 | 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)** |
| 41152311 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4585 AS, 2.313%, (-1.000\*SOFR30A + 5.986%), 05/15/2046 | $3423162 | 0.0 |
| 4203783 | Freddie Mac REMIC Trust 4608 JV, 3.500%, 01/15/2055 | 3164963 | 0.0 |
| 11783552 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4611 BS, 2.313%, (-1.000\*SOFR30A + 5.986%), 06/15/2041 | 974645 | 0.0 |
| 8359989 | Freddie Mac REMIC Trust 4664 KZ, 3.500%, 02/15/2047 | 7754052 | 0.1 |
| 6351465 | Freddie Mac REMIC Trust 4680 GZ, 3.500%, 03/15/2047 | 5861056 | 0.1 |
| 4723751 | Freddie Mac REMIC Trust 4682 HZ, 3.500%, 04/15/2047 | 4379173 | 0.1 |
| 2309270 | Freddie Mac REMIC Trust 4700 KZ, 3.500%, 07/15/2047 | 2139385 | 0.0 |
| 4470307 | Freddie Mac REMIC Trust 4753 VZ, 3.000%, 12/15/2047 | 3613982 | 0.1 |
| 3291485 | Freddie Mac REMIC Trust 4755 Z, 3.000%, 02/15/2048 | 2900750 | 0.0 |
| 38778744 | Freddie Mac REMIC Trust 4771 HZ, 3.500%, 03/15/2048 | 35570699 | 0.3 |
| 11631614 | Freddie Mac REMIC Trust 4776 AZ, 4.000%, 07/15/2047 | 11037219 | 0.1 |
| 311073 | Freddie Mac REMIC Trust 4787 PY, 4.000%, 05/15/2048 | 297134 | 0.0 |
| 5994613 | Freddie Mac REMIC Trust 4795 D, 5.000%, 05/15/2048 | 5862933 | 0.1 |
| 1551775 | Freddie Mac REMIC Trust 4834 AZ, 3.500%, 10/15/2048 | 1432059 | 0.0 |
| 18322564 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4879 DS, 2.313%, (-1.000\*SOFR30A + 5.986%), 08/15/2034 | 1035410 | 0.0 |
| 20253509 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4892 SA, 2.263%, (-1.000\*SOFR30A + 5.936%), 07/15/2049 | 2054327 | 0.0 |
| 1632872 | Freddie Mac REMIC Trust 4904 HB, 3.000%, 08/25/2049 | 1214730 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 5676070 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 4906 SQ, 2.274%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | $541080 | 0.0 |
| 606535 | Freddie Mac REMIC Trust 4914 DB, 3.000%, 09/25/2049 | 418351 | 0.0 |
| 2127299 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | 1880595 | 0.0 |
| 45795242 <sup>(6)</sup> | Freddie Mac REMIC Trust 4941 IO, 4.000%, 12/15/2047 | 9330769 | 0.1 |
| 2317736 | Freddie Mac REMIC Trust 4941 WZ, 3.000%, 11/25/2049 | 2041323 | 0.0 |
| 3863387 | Freddie Mac REMIC Trust 4950 KE, 2.500%, 12/25/2049 | 3440825 | 0.0 |
| 44030169 <sup>(6)</sup> | Freddie Mac REMIC Trust 4980 KI, 4.500%, 06/25/2050 | 9976281 | 0.1 |
| 13359963 <sup>(6)</sup> | Freddie Mac REMIC Trust 4986 IO, 4.500%, 06/25/2050 | 2998898 | 0.0 |
| 45656905 <sup>(6)</sup> | Freddie Mac REMIC Trust 4998 AI, 3.500%, 12/25/2049 | 10077543 | 0.1 |
| 38135310 <sup>(6)</sup> | Freddie Mac REMIC Trust 5014 HI, 4.000%, 09/25/2050 | 7756920 | 0.1 |
| 24367523 <sup>(6)</sup> | Freddie Mac REMIC Trust 5019 HI, 3.500%, 10/25/2050 | 4602781 | 0.1 |
| 19839758 <sup>(6)</sup> | Freddie Mac REMIC Trust 5038 GI, 4.000%, 11/25/2050 | 4060012 | 0.1 |
| 19197619 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 5045 BS, 2.538%, (-1.000\*SOFR30A + 6.200%), 11/25/2050 | 2750053 | 0.0 |
| 81064920 <sup>(6)</sup> | Freddie Mac REMIC Trust 5051 BI, 3.000%, 11/25/2050 | 13748777 | 0.1 |
| 40734461 <sup>(6)</sup> | Freddie Mac REMIC Trust 5057 IT, 3.000%, 11/25/2050 | 6941490 | 0.1 |
| 23705016 <sup>(6)</sup> | Freddie Mac REMIC Trust 5072 NI, 3.000%, 01/25/2050 | 4004006 | 0.1 |
| 48173179 <sup>(6)</sup> | Freddie Mac REMIC Trust 5072 QI, 3.500%, 10/25/2050 | 10663020 | 0.1 |
| 67392475 <sup>(6)</sup> | Freddie Mac REMIC Trust 5082 IQ, 3.000%, 03/25/2051 | 11371412 | 0.1 |
| 15810986 <sup>(6)</sup> | Freddie Mac REMIC Trust 5103 HI, 4.000%, 05/25/2051 | 3247999 | 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)** |
| 17716469 <sup>(6)</sup> | Freddie Mac REMIC Trust 5108 CI, 3.500%, 05/25/2051 | $2681691 | 0.0 |
| 16007537 <sup>(6)</sup> | Freddie Mac REMIC Trust 5113 AI, 4.000%, 06/25/2041 | 2476515 | 0.0 |
| 15560685 <sup>(6)</sup> | Freddie Mac REMIC Trust 5114 CI, 4.000%, 01/25/2050 | 3112120 | 0.0 |
| 52378945 <sup>(6)</sup> | Freddie Mac REMIC Trust 5117 IO, 3.000%, 06/25/2051 | 7236355 | 0.1 |
| 21488491 <sup>(6)</sup> | Freddie Mac REMIC Trust 5122 AI, 4.500%, 07/25/2051 | 4850722 | 0.1 |
| 40293213 <sup>(6)</sup> | Freddie Mac REMIC Trust 5125 MI, 4.500%, 11/25/2048 | 9259507 | 0.1 |
| 18744558 <sup>(6)</sup> | Freddie Mac REMIC Trust 5128 IC, 5.500%, 09/25/2041 | 3441296 | 0.0 |
| 45281507 <sup>(6)</sup> | Freddie Mac REMIC Trust 5152 IQ, 4.500%, 10/25/2051 | 10530011 | 0.1 |
| 54182865 <sup>(6)</sup> | Freddie Mac REMIC Trust 5200 IC, 4.000%, 03/25/2051 | 11059777 | 0.1 |
| 1128592 | Freddie Mac REMIC Trust 5228 EC, 4.000%, 02/25/2050 | 1087884 | 0.0 |
| 30906895 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 5264 S, 2.238%, (-1.000\*SOFR30A + 5.900%), 10/25/2052 | 2347728 | 0.0 |
| 42951333 <sup>(6)</sup> | Freddie Mac REMIC Trust 5279 IM, 4.000%, 11/25/2051 | 8458387 | 0.1 |
| 33734862 <sup>(6)</sup> | Freddie Mac REMIC Trust 5322 IO, 4.000%, 09/25/2051 | 7099495 | 0.1 |
| 29133014 <sup>(6)</sup> | Freddie Mac REMIC Trust 5392 DI, 4.500%, 10/25/2051 | 6758143 | 0.1 |
| 5511687 | Freddie Mac REMIC Trust 5505 AZ, 5.000%, 02/25/2055 | 5384381 | 0.1 |
| 5059212 | Freddie Mac REMIC Trust 5513 Z, 5.000%, 11/25/2054 | 4946479 | 0.1 |
| 4564239 | Freddie Mac REMIC Trust 5525 LZ, 5.000%, 04/25/2055 | 4448726 | 0.1 |
| 138557170 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac REMIC Trust 5638 SC, 2.588%, (-1.000\*SOFR30A + 6.250%), 03/25/2056 | 16450172 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2954454 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021- DNA6 M2, 5.162%, (SOFR30A + 1.500%), 10/25/2041 | $2957948 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021- DNA7 M2, 5.462%, (SOFR30A + 1.800%), 11/25/2041 | 1002806 | 0.0 |
| 11160000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021- HQA3 M2, 5.762%, (SOFR30A + 2.100%), 09/25/2041 | 11200916 | 0.1 |
| 15000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021- HQA4 B1, 7.412%, (SOFR30A + 3.750%), 12/25/2041 | 15244020 | 0.2 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021- HQA4 M2, 6.012%, (SOFR30A + 2.350%), 12/25/2041 | 10072797 | 0.1 |
| 13500000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- DNA1 B1, 7.062%, (SOFR30A + 3.400%), 01/25/2042 | 13750889 | 0.1 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- DNA1 M2, 6.162%, (SOFR30A + 2.500%), 01/25/2042 | 7055864 | 0.1 |
| 1400000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- DNA2 B1, 8.412%, (SOFR30A + 4.750%), 02/25/2042 | 1433736 | 0.0 |
| 10400000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- DNA2 M2, 7.412%, (SOFR30A + 3.750%), 02/25/2042 | 10619712 | 0.1 |
| 2534500 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- DNA6 M2, 9.412%, (SOFR30A + 5.750%), 09/25/2042 | 2697337 | 0.0 |
| 1150000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022- HQA3 M2, 9.012%, (SOFR30A + 5.350%), 08/25/2042 | 1214610 | 0.0 |
| 1800000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2023- HQA3 M2, 7.012%, (SOFR30A + 3.350%), 11/25/2043 | 1878890 | 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)** |
| 11000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2024- HQA2 M2, 5.462%, (SOFR30A + 1.800%), 08/25/2044 | $11034584 | 0.1 |
| 3350000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2025- HQA1 M2, 5.312%, (SOFR30A + 1.650%), 02/25/2045 | 3357349 | 0.0 |
| 11000000 <sup>(2)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2026- DNA2 B1, 5.772%, (SOFR30A + 2.100%), 03/25/2046 | 11026656 | 0.1 |
| 1914136 | Freddie Mac Strips 277 30, 3.000%, 09/15/2042 | 1728729 | 0.0 |
| 4162394 <sup>(6)</sup> | Freddie Mac Strips 303 C17, 3.500%, 01/15/2043 | 666662 | 0.0 |
| 3084702 <sup>(6)</sup> | Freddie Mac Strips 303 C29, 4.500%, 01/15/2043 | 545827 | 0.0 |
| 20173591 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Strips 311 S1, 2.163%, (-1.000\*SOFR30A + 5.836%), 08/15/2043 | 2008475 | 0.0 |
| 7173445 | Freddie Mac Strips 326 350, 3.500%, 03/15/2044 | 6650416 | 0.1 |
| 629226 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Strips 344 68, 3.000%, 02/15/2045 | 80515 | 0.0 |
| 178807 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Strips 344 89, 4.500%, 02/15/2045 | 33970 | 0.0 |
| 2504677 <sup>(6)</sup> | Freddie Mac Strips 344 C13, 4.500%, 02/15/2045 | 515380 | 0.0 |
| 3739194 <sup>(6)</sup> | Freddie Mac Strips 344 C17, 4.000%, 02/15/2045 | 696080 | 0.0 |
| 1864335 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Strips 344 C18, 3.946%, 02/15/2045 | 325662 | 0.0 |
| 2260303 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Strips 344 C19, 3.564%, 02/15/2045 | 320446 | 0.0 |
| 3635760 <sup>(6)</sup> | Freddie Mac Strips 344 C2, 4.000%, 02/15/2045 | 675906 | 0.0 |
| 3098029 <sup>(6)</sup> | Freddie Mac Strips 344 C4, 4.000%, 02/15/2045 | 579260 | 0.0 |
| 5355113 <sup>(6)</sup> | Freddie Mac Strips 344 C5, 3.500%, 02/15/2045 | 905271 | 0.0 |
| 5596828 <sup>(6)</sup> | Freddie Mac Strips 344 C6, 4.000%, 02/15/2045 | 1059218 | 0.0 |
| 3120320 <sup>(6)</sup> | Freddie Mac Strips 344 C7, 4.000%, 02/15/2045 | 595319 | 0.0 |
| 2154279 <sup>(6)</sup> | Freddie Mac Strips 344 C8, 3.500%, 02/15/2045 | 344710 | 0.0 |
| 2691774 <sup>(6)</sup> | Freddie Mac Strips 344 C9, 3.500%, 02/15/2045 | 444675 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 6365901 <sup>(6)</sup> | Freddie Mac Strips 347 C14, 3.500%, 02/15/2044 | $1093357 | 0.0 |
| 3668300 <sup>(6)</sup> | Freddie Mac Strips 347 C22, 4.000%, 02/15/2044 | 663924 | 0.0 |
| 3996861 <sup>(6)</sup> | Freddie Mac Strips 347 C23, 4.000%, 02/15/2044 | 714499 | 0.0 |
| 3800299 <sup>(6)</sup> | Freddie Mac Strips 347 C24, 4.000%, 02/15/2044 | 672299 | 0.0 |
| 3459238 <sup>(6)</sup> | Freddie Mac Strips 347 C25, 4.000%, 02/15/2044 | 636324 | 0.0 |
| 4857527 <sup>(6)</sup> | Freddie Mac Strips 347 C26, 4.000%, 02/15/2044 | 886630 | 0.0 |
| 4256202 <sup>(6)</sup> | Freddie Mac Strips 347 C28, 4.500%, 02/15/2044 | 862751 | 0.0 |
| 7506806 <sup>(6)</sup> | Freddie Mac Strips 347 C5, 3.000%, 05/15/2043 | 1124163 | 0.0 |
| 14656566 <sup>(6)</sup> | Freddie Mac Strips 365 C23, 3.500%, 10/15/2047 | 2554801 | 0.0 |
| 622637 <sup>(3)</sup> | Freddie Mac Structured Pass-Through Certificates T-48 1A, 4.270%, 07/25/2033 | 599734 | 0.0 |
| 2224876 | Freddie Mac Whole Loan Securities Trust 2017-SC01 1A, 3.000%, 12/25/2046 | 1917818 | 0.0 |
| 2163576 | Freddie Mac Whole Loan Securities Trust 2017-SC01 2A, 3.500%, 12/25/2046 | 1907377 | 0.0 |
| 262419 <sup>(2)</sup><sup>(3)</sup> | Galton Funding Mortgage Trust 2018-2 A51, 4.500%, 10/25/2058 | 255182 | 0.0 |
| 3324569 <sup>(2)</sup><sup>(3)</sup> | GCAT Trust 2025-INV2 B3, 7.020%, 05/25/2055 | 3505983 | 0.1 |
| 1990823 <sup>(2)</sup><sup>(3)</sup> | GCAT Trust 2025-INV4 B3, 7.265%, 08/25/2055 | 2134191 | 0.0 |
| 610216 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2005- 37 SI, 2.360%, (-1.000\*TSFR1M + 6.036%), 05/20/2035 | 39872 | 0.0 |
| 128635 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2005- 7 AH, 2.983%, (-1.000\*TSFR1M + 6.656%), 02/16/2035 | 8928 | 0.0 |
| 2911008 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2007- 17 IC, 2.463%, (-1.000\*TSFR1M + 6.136%), 04/16/2037 | 128557 | 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)** |
| 648651 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2007- 23 ST, 2.410%, (-1.000\*TSFR1M + 6.086%), 04/20/2037 | $52063 | 0.0 |
| 807669 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2007- 40 SE, 2.960%, (-1.000\*TSFR1M + 6.636%), 07/20/2037 | 81160 | 0.0 |
| 3955653 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2007- 41 SL, 2.910%, (-1.000\*TSFR1M + 6.586%), 07/20/2037 | 340442 | 0.0 |
| 506756 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2007- 7 EI, 2.410%, (-1.000\*TSFR1M + 6.086%), 02/20/2037 | 41151 | 0.0 |
| 453156 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2008- 2 SW, 2.760%, (-1.000\*TSFR1M + 6.436%), 01/20/2038 | 44116 | 0.0 |
| 221435 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2008- 35 SN, 2.610%, (-1.000\*TSFR1M + 6.286%), 04/20/2038 | 15234 | 0.0 |
| 106295 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2008- 40 PS, 2.713%, (-1.000\*TSFR1M + 6.386%), 05/16/2038 | 5908 | 0.0 |
| 365341 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2009- 25 KS, 2.410%, (-1.000\*TSFR1M + 6.086%), 04/20/2039 | 31559 | 0.0 |
| 294622 | Ginnie Mae 2009-29 PB, 4.750%, 05/20/2039 | 298228 | 0.0 |
| 272441 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 273436 | 0.0 |
| 5863110 | Ginnie Mae 2009-33 ZB, 6.000%, 05/20/2039 | 6018642 | 0.1 |
| 610170 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 613015 | 0.0 |
| 367081 | Ginnie Mae 2009- 98 DA, 3.250%, 07/16/2039 | 363387 | 0.0 |
| 1601071 | Ginnie Mae 2010- 108 WL, 4.000%, 04/16/2040 | 1577059 | 0.0 |
| 1924208 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2010- 11 SA, 2.633%, (-1.000\*TSFR1M + 6.306%), 01/16/2040 | 168488 | 0.0 |
| 452899 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2010- 116 NS, 2.863%, (-1.000\*TSFR1M + 6.536%), 09/16/2040 | 31744 | 0.0 |
| 1880459 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2010- 116 SK, 2.830%, (-1.000\*TSFR1M + 6.506%), 08/20/2040 | 144054 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 782389 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2010- 14 SB, 3.010%, (-1.000\*TSFR1M + 6.686%), 11/20/2035 | $72130 | 0.0 |
| 243576 | Ginnie Mae 2010- 164 MD, 4.000%, 12/20/2040 | 237328 | 0.0 |
| 815404 <sup>(6)</sup> | Ginnie Mae 2010-168 BI, 5.000%, 04/20/2040 | 120974 | 0.0 |
| 529148 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2010- 68 MS, 2.060%, (-1.000\*TSFR1M + 5.736%), 06/20/2040 | 46040 | 0.0 |
| 437624 <sup>(6)</sup> | Ginnie Mae 2010-99 IT, 5.000%, 08/16/2040 | 56208 | 0.0 |
| 538860 | Ginnie Mae 2011-52 PA, 4.250%, 02/16/2041 | 537933 | 0.0 |
| 1240794 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2011- 72 SA, 1.563%, (-1.000\*TSFR1M + 5.236%), 05/16/2041 | 80790 | 0.0 |
| 82709 <sup>(6)</sup> | Ginnie Mae 2012-91 QI, 4.500%, 09/20/2041 | 4705 | 0.0 |
| 328394 | Ginnie Mae 2013- 116 KB, 3.500%, 12/20/2042 | 325328 | 0.0 |
| 2011500 <sup>(6)</sup> | Ginnie Mae 2013-167 PI, 5.500%, 11/20/2043 | 260559 | 0.0 |
| 6480185 | Ginnie Mae 2013-170 ZD, 2.500%, 11/16/2043 | 5731892 | 0.1 |
| 58085 | Ginnie Mae 2013-27 KA, 2.250%, 02/20/2043 | 54365 | 0.0 |
| 268690 | Ginnie Mae 2013-69 KA, 1.250%, 08/20/2042 | 241100 | 0.0 |
| 1717444 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2014- 185 SB, 1.810%, (-1.000\*TSFR1M + 5.486%), 12/20/2044 | 111444 | 0.0 |
| 931213 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2014- 3 QS, 2.360%, (-1.000\*TSFR1M + 6.036%), 03/20/2043 | 42498 | 0.0 |
| 2885454 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2014- 3 SU, 2.260%, (-1.000\*TSFR1M + 5.936%), 07/20/2039 | 237887 | 0.0 |
| 1521115 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2014- 56 SP, 2.413%, (-1.000\*TSFR1M + 6.086%), 12/16/2039 | 97267 | 0.0 |
| 5175757 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2014- 58 SG, 1.813%, (-1.000\*TSFR1M + 5.486%), 04/16/2044 | 272566 | 0.0 |
| 344089 | Ginnie Mae 2015-27 PB, 3.000%, 08/20/2044 | 342043 | 0.0 |
| 11050981 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2016- 160 GS, 2.310%, (-1.000\*TSFR1M + 5.986%), 11/20/2046 | 1311824 | 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)** |
| 326675 | Ginnie Mae 2016-44 JA, 3.500%, 03/20/2046 | $306454 | 0.0 |
| 22659560 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2016- 6 SB, 1.860%, (-1.000\*TSFR1M + 5.536%), 01/20/2046 | 1778238 | 0.0 |
| 5341271 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2017- 101 SA, 2.410%, (-1.000\*TSFR1M + 6.086%), 07/20/2047 | 641834 | 0.0 |
| 11643818 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2017- 163 SH, 2.410%, (-1.000\*TSFR1M + 6.086%), 11/20/2047 | 1428512 | 0.0 |
| 7244346 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2017- 19 SE, 2.363%, (-1.000\*TSFR1M + 6.036%), 02/16/2047 | 674379 | 0.0 |
| 4853477 | Ginnie Mae 2018-1 LZ, 3.000%, 01/20/2048 | 3931511 | 0.1 |
| 369694 | Ginnie Mae 2018-104 HZ, 3.500%, 08/20/2048 | 272311 | 0.0 |
| 890527 | Ginnie Mae 2018- 120 DE, 3.500%, 09/20/2048 | 828447 | 0.0 |
| 221212 | Ginnie Mae 2018- 122 GZ, 3.500%, 09/20/2048 | 174044 | 0.0 |
| 1202212 | Ginnie Mae 2018-126 A, 3.500%, 09/20/2048 | 1098674 | 0.0 |
| 222906 | Ginnie Mae 2018-147 KZ, 3.750%, 10/20/2048 | 179429 | 0.0 |
| 11082654 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2018- 167 CS, 2.310%, (-1.000\*TSFR1M + 5.986%), 12/20/2048 | 1137293 | 0.0 |
| 176532 | Ginnie Mae 2019-100 JB, 3.000%, 08/20/2049 | 129834 | 0.0 |
| 532322 | Ginnie Mae 2019- 100 KB, 3.000%, 08/20/2049 | 390252 | 0.0 |
| 1349931 | Ginnie Mae 2019- 100 MC, 3.000%, 08/20/2049 | 973334 | 0.0 |
| 70392955 <sup>(6)</sup> | Ginnie Mae 2019-129 AI, 3.500%, 10/20/2049 | 13362184 | 0.1 |
| 32557528 <sup>(6)</sup> | Ginnie Mae 2019-137 GI, 4.000%, 11/20/2049 | 7038814 | 0.1 |
| 16220668 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2019- 159 SM, 2.260%, (-1.000\*TSFR1M + 5.936%), 12/20/2049 | 1876112 | 0.0 |
| 1081376 | Ginnie Mae 2019- 23 NG, 3.500%, 02/20/2049 | 821033 | 0.0 |
| 71326 | Ginnie Mae 2019-54 AB, 3.000%, 04/20/2049 | 55716 | 0.0 |
| 798785 | Ginnie Mae 2019- 78 MB, 3.000%, 06/20/2049 | 583045 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 416445 | Ginnie Mae 2019-89 KB, 3.000%, 07/20/2049 | $305714 | 0.0 |
| 299424 | Ginnie Mae 2019- 89 WB, 3.000%, 07/20/2049 | 215727 | 0.0 |
| 64626676 <sup>(6)</sup> | Ginnie Mae 2020-187 BI, 2.500%, 12/20/2050 | 9745790 | 0.1 |
| 16301275 <sup>(6)</sup> | Ginnie Mae 2020-188 PI, 3.500%, 06/20/2050 | 3100061 | 0.0 |
| 15296849 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020- 32 SG, 2.310%, (-1.000\*TSFR1M + 5.986%), 03/20/2050 | 1958616 | 0.0 |
| 12844521 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020- 34 SQ, 2.260%, (-1.000\*TSFR1M + 5.936%), 10/20/2049 | 1458854 | 0.0 |
| 23467618 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020- 46 BS, 0.336%, (-1.000\*TSFR1M + 3.236%), 04/20/2050 | 258167 | 0.0 |
| 11257357 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2020- 77 JS, 2.310%, (-1.000\*TSFR1M + 5.986%), 10/20/2048 | 968816 | 0.0 |
| 70737413 <sup>(6)</sup> | Ginnie Mae 2021-139 PI, 2.500%, 08/20/2051 | 10155236 | 0.1 |
| 17188492 <sup>(6)</sup> | Ginnie Mae 2021-146 IL, 4.000%, 08/20/2051 | 3550681 | 0.1 |
| 16250643 <sup>(6)</sup> | Ginnie Mae 2021-161 IC, 4.500%, 09/20/2051 | 3608255 | 0.1 |
| 26180666 <sup>(6)</sup> | Ginnie Mae 2021-57 IG, 3.500%, 09/20/2050 | 4946587 | 0.1 |
| 35811739 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2022- 172 SB, 2.027%, (-1.000\*SOFR30A + 5.700%), 10/20/2052 | 2659521 | 0.0 |
| 13656323 | Ginnie Mae 2023-111 ZL, 6.000%, 08/20/2053 | 13733975 | 0.1 |
| 1586648 | Ginnie Mae 2023-99 DV, 5.000%, 07/20/2034 | 1592586 | 0.0 |
| 101829075 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2024- 184 SN, 1.627%, (-1.000\*SOFR30A + 5.300%), 11/20/2054 | 5532552 | 0.1 |
| 6861700 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6968799 | 0.1 |
| 73637683 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2025- 105 ES, 2.260%, (-1.000\*TSFR1M + 5.936%), 11/20/2049 | 7424085 | 0.1 |
| 10621503 | Ginnie Mae 2025- 120 MZ, 5.000%, 07/20/2055 | 10300403 | 0.1 |
| 108533173 <sup>(3)</sup><sup>(6)</sup> | Ginnie Mae 2025- 139 SD, 2.277%, (-1.000\*SOFR30A + 5.950%), 08/20/2065 | 4638654 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 252314 <sup>(2)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 A1, 3.500%, 05/25/2050 | $228469 | 0.0 |
| 404663 <sup>(2)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 A4, 3.500%, 05/25/2050 | 364277 | 0.0 |
| 1009304 <sup>(2)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020- PJ1 A8, 3.500%, 05/25/2050 | 911226 | 0.0 |
| 242090 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | 227970 | 0.0 |
| 2549697 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.355%, 11/25/2049 | 2355710 | 0.0 |
| 942749 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.965%, 03/25/2050 | 879543 | 0.0 |
| 1406921 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B2A, 3.406%, 10/25/2050 | 1222551 | 0.0 |
| 867063 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.406%, 10/25/2050 | 706160 | 0.0 |
| 1319263 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2021- GR3 B4, 3.374%, 04/25/2052 | 1101909 | 0.0 |
| 2441528 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023- PJ4 A3, 6.000%, 01/25/2054 | 2460145 | 0.0 |
| 1920390 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023- PJ5 B2, 6.680%, 02/25/2054 | 1986720 | 0.0 |
| 2017135 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023- PJ6 B2, 6.821%, 04/25/2054 | 2079512 | 0.0 |
| 3624336 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ1 B2, 6.926%, 06/25/2054 | 3812262 | 0.1 |
| 805465 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ2 B3, 5.918%, 07/25/2054 | 793126 | 0.0 |
| 2885937 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ4 B2, 5.774%, 08/25/2054 | 2882121 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1890289 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024- PJ4 B3, 5.774%, 08/25/2054 | $1864499 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2026- PJ3 B3, 5.868%, 08/25/2056 | 1936188 | 0.0 |
| 105342 | GSR Mortgage Loan Trust 2007-1F 3A13, 6.000%, 01/25/2037 | 62367 | 0.0 |
| 1114249 <sup>(3)</sup> | HarborView Mortgage Loan Trust 2007-5 A1A, 4.171%, (TSFR1M + 0.494%), 09/19/2037 | 986669 | 0.0 |
| 23433 <sup>(3)</sup> | HomeBanc Mortgage Trust 2004-1 2A, 4.653%, (TSFR1M + 0.974%), 08/25/2029 | 23095 | 0.0 |
| 4492956 <sup>(2)</sup> | HTAP Issuer Trust 2025-1 A, 6.500%, 11/25/2042 | 4478561 | 0.1 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 1586450 | 0.0 |
| 1325532 <sup>(3)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 4.213%, (TSFR1M + 0.534%), 02/25/2046 | 1029513 | 0.0 |
| 29594 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2019-2 A3, 3.994%, 08/25/2049 | 27938 | 0.0 |
| 2051845 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.146%, 05/25/2052 | 1694181 | 0.0 |
| 2209790 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2023-8 B3, 6.122%, 02/25/2054 | 2182690 | 0.0 |
| 3360441 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 3383964 | 0.0 |
| 303013 | JP Morgan Alternative Loan Trust 2005- S1 1A1, 5.500%, 12/25/2035 | 78458 | 0.0 |
| 836194 <sup>(3)</sup> | JP Morgan Mortgage Trust 2005-A4 B1, 5.573%, 07/25/2035 | 827197 | 0.0 |
| 781036 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 699636 | 0.0 |
| 1135861 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-6 B3, 3.778%, 12/25/2048 | 1040085 | 0.0 |
| 1569436 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B1, 3.573%, 06/25/2048 | 1436985 | 0.0 |
| 1510646 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B2, 3.573%, 06/25/2048 | 1377087 | 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)** |
| 1996311 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B3, 3.573%, 06/25/2048 | $1814687 | 0.0 |
| 1720906 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.711%, 10/25/2048 | 1580478 | 0.0 |
| 116388 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | 108897 | 0.0 |
| 191471 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | 173502 | 0.0 |
| 425492 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 A5, 3.500%, 03/25/2050 | 387745 | 0.0 |
| 1500055 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-INV1 B3, 4.935%, 09/25/2049 | 1455238 | 0.0 |
| 630260 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-1 A7, 3.500%, 06/25/2050 | 571847 | 0.0 |
| 215576 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-2 A15, 3.500%, 07/25/2050 | 194159 | 0.0 |
| 221367 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-3 A15, 3.500%, 08/25/2050 | 199308 | 0.0 |
| 1847563 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-5 B3, 3.568%, 12/25/2050 | 1612732 | 0.0 |
| 841852 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-8 B2, 3.487%, 03/25/2051 | 747186 | 0.0 |
| 165298 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-INV1 A3, 3.500%, 08/25/2050 | 149576 | 0.0 |
| 1359028 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2022-2 B3, 3.121%, 08/25/2052 | 1110535 | 0.0 |
| 1353257 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.156%, 05/25/2054 | 1338725 | 0.0 |
| 1393622 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-2 A9, 6.500%, 08/25/2054 | 1414072 | 0.0 |
| 2054681 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-9 A9A, 5.500%, 02/25/2055 | 2040524 | 0.0 |
| 3304378 <sup>(2)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2025-CCM1 A9, 5.500%, 06/25/2055 | 3281610 | 0.0 |
| 12089604 <sup>(3)</sup><sup>(6)</sup> | Lehman Mortgage Trust 2006-7 2A4, 2.757%, (-1.000\*TSFR1M + 6.436%), 11/25/2036 | 1794046 | 0.0 |
| 8295585 <sup>(3)</sup><sup>(6)</sup> | Lehman Mortgage Trust 2006-9 2A5, 2.827%, (-1.000\*TSFR1M + 6.506%), 01/25/2037 | 1341761 | 0.0 |
| 108078 <sup>(2)</sup><sup>(3)</sup> | MFA Trust 2020-NQM3 A3, 1.632%, 01/26/2065 | 104261 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 3300449 <sup>(2)</sup><sup>(3)</sup> | Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059 | $3230786 | 0.0 |
| 2482000 <sup>(2)</sup><sup>(3)</sup> | Mill City Mortgage Trust 2015-2 B2, 3.680%, 09/25/2057 | 2298702 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2020- 1 A5A, 2.500%, 12/25/2050 | 719703 | 0.0 |
| 4614465 <sup>(2)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B1, 7.100%, 03/25/2054 | 4845341 | 0.1 |
| 3881732 <sup>(2)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024- 4 A13, 5.500%, 09/25/2054 | 3835129 | 0.1 |
| 1668350 <sup>(2)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 6.943%, 09/25/2054 | 1724806 | 0.0 |
| 1256132 <sup>(2)</sup><sup>(3)</sup> | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 1246507 | 0.0 |
| 442184 <sup>(2)</sup><sup>(3)</sup> | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 432311 | 0.0 |
| 6000000 <sup>(2)</sup><sup>(3)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.012%, (SOFR30A + 3.350%), 04/25/2034 | 6060790 | 0.1 |
| 221371 <sup>(2)</sup><sup>(3)</sup> | OBX Trust 2019- INV2 A25, 4.000%, 05/27/2049 | 206787 | 0.0 |
| 1034664 <sup>(2)</sup><sup>(3)</sup> | OBX Trust 2025- J2 A19, 5.500%, 09/25/2055 | 1026630 | 0.0 |
| 2720363 <sup>(2)</sup><sup>(3)</sup> | PMT Loan Trust 2025- INV12 A29, 5.500%, 12/25/2056 | 2700406 | 0.0 |
| 1277235802 <sup>(2)</sup><sup>(6)</sup> | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | 7850594 | 0.1 |
| 43785 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 38948 | 0.0 |
| 2028373 <sup>(2)</sup><sup>(3)</sup> | Provident Funding Mortgage Trust 2025-2 A13, 6.000%, 06/25/2055 | 2042571 | 0.0 |
| 2262249 <sup>(2)</sup><sup>(3)</sup> | Provident Funding Mortgage Trust 2025-3 A13, 6.000%, 08/25/2055 | 2269601 | 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)** |
| 119591098 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | PSMC Trust 2021- 1 AX1, 0.341%, 03/25/2051 | $2371408 | 0.0 |
| 142114912 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | RATE Mortgage Trust 2021-HB1 AX1, 0.201%, 12/25/2051 | 1761706 | 0.0 |
| 510699 <sup>(2)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2019-1 A13, 3.500%, 09/25/2049 | 463965 | 0.0 |
| 796016 <sup>(2)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2019-1 B4, 3.898%, 09/25/2049 | 718667 | 0.0 |
| 225934512 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | RCKT Mortgage Trust 2021-1 AX1, 0.212%, 03/25/2051 | 2795488 | 0.0 |
| 177637623 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | RCKT Mortgage Trust 2021-3 AX1, 0.124%, 07/25/2051 | 1306907 | 0.0 |
| 1416001 <sup>(2)</sup><sup>(3)</sup> | Redwood Funding Trust 2025-2 A, 7.112%, 10/25/2055 | 1423947 | 0.0 |
| 3560314 <sup>(2)</sup> | Redwood Funding Trust 2025-3 A, 6.231%, 12/27/2056 | 3594140 | 0.1 |
| 29893092 <sup>(3)</sup> | Seasoned Credit Risk Transfer Trust 2017-4 HT, 3.250%, 06/25/2057 | 27453956 | 0.3 |
| 163207 <sup>(2)</sup><sup>(3)</sup> | Seasoned Credit Risk Transfer Trust Series 2016-1 M2, 3.750%, 09/25/2055 | 151321 | 0.0 |
| 2930397 | Seasoned Credit Risk Transfer Trust Series 2018-2 HT, 3.000%, 11/25/2057 | 2583578 | 0.0 |
| 6850908 | Seasoned Credit Risk Transfer Trust Series 2018-2 MV, 3.500%, 11/25/2057 | 6572186 | 0.1 |
| 3066026 | Seasoned Credit Risk Transfer Trust Series 2018-3 HT, 3.000%, 08/25/2057 | 2670121 | 0.0 |
| 2424355 | Seasoned Credit Risk Transfer Trust Series 2018-4 HT, 3.000%, 03/25/2058 | 2108262 | 0.0 |
| 2742295 | Seasoned Credit Risk Transfer Trust Series 2019-1 HT, 3.000%, 07/25/2058 | 2401957 | 0.0 |
| 1377952 | Seasoned Credit Risk Transfer Trust Series 2019-2 HT, 3.000%, 08/25/2058 | 1208515 | 0.0 |
| 635592 | Seasoned Credit Risk Transfer Trust Series 2019-3 HT, 3.000%, 10/25/2058 | 559298 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 5034798 | Seasoned Credit Risk Transfer Trust Series 2019-3 MA, 3.500%, 10/25/2058 | $4908061 | 0.1 |
| 836243 | Seasoned Credit Risk Transfer Trust Series 2019-4 M55D, 4.000%, 02/25/2059 | 786272 | 0.0 |
| 744702 | Seasoned Credit Risk Transfer Trust Series 2020-3 TTU, 2.500%, 05/25/2060 | 688486 | 0.0 |
| 32340000 | Seasoned Loans Structured Transaction Trust Series 2019- 3 A2C, 2.750%, 11/25/2029 | 30579236 | 0.3 |
| 655934 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2015-2 B3, 3.758%, 05/25/2045 | 571706 | 0.0 |
| 982625 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2015-3 B3, 3.726%, 07/25/2045 | 793084 | 0.0 |
| 513154 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2017-5 B3, 3.786%, 08/25/2047 | 467232 | 0.0 |
| 95934 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 03/25/2048 | 89612 | 0.0 |
| 1943959 <sup>(2)</sup> | Sequoia Mortgage Trust 2018-CH1 B2B, 4.434%, 03/25/2048 | 1859666 | 0.0 |
| 423720 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-4 A19, 3.500%, 11/25/2049 | 384529 | 0.0 |
| 1691178 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-2 B2, 3.626%, 03/25/2050 | 1514497 | 0.0 |
| 164861932 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | Sequoia Mortgage Trust 2020-3 AIO1, 0.303%, 04/25/2050 | 2929976 | 0.0 |
| 2598932 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-3 B2, 3.303%, 04/25/2050 | 2280936 | 0.0 |
| 935356 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2021-5 A19, 2.500%, 07/25/2051 | 772953 | 0.0 |
| 894635 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2021-5 B3, 3.048%, 07/25/2051 | 750247 | 0.0 |
| 110807749 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | Sequoia Mortgage Trust 2022-1 AIO1, 0.443%, 02/25/2052 | 3212954 | 0.0 |
| 766065 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 768842 | 0.0 |
| 2401446 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 2384900 | 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)** |
| 8584351 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-13 A19, 5.500%, 12/25/2055 | $8517693 | 0.1 |
| 1802639 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-2 A19, 6.000%, 03/25/2055 | 1807551 | 0.0 |
| 4225038 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-6 B3, 6.204%, 07/25/2055 | 4159962 | 0.1 |
| 1983356 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-8 B3, 6.235%, 09/25/2055 | 1988453 | 0.0 |
| 3010526 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-9 A28, 6.000%, 10/25/2055 | 3033481 | 0.0 |
| 2477511 <sup>(2)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2026-3 A19, 5.000%, 03/25/2056 | 2422058 | 0.0 |
| 1344264 <sup>(2)</sup><sup>(3)</sup> | Shellpoint Co-Originator Trust 2017-2 B2, 3.615%, 10/25/2047 | 1253040 | 0.0 |
| 1750000 <sup>(2)</sup><sup>(3)</sup> | Splitero Trust 2025-1 A1, 5.750%, 12/25/2055 | 1720564 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 788827 | 0.0 |
| 1897610 <sup>(2)</sup><sup>(3)</sup> | TIAA Bank Mortgage Loan Trust 2018-2 B2, 3.656%, 07/25/2048 | 1734989 | 0.0 |
| 2619062 <sup>(2)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2015-2 2B2, 4.831%, 11/25/2057 | 2612520 | 0.0 |
| 1555571 <sup>(2)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2016-2 M1, 3.000%, 08/25/2055 | 1540944 | 0.0 |
| 3127244 <sup>(2)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2017-1 M1, 3.750%, 10/25/2056 | 3092677 | 0.0 |
| 2200000 <sup>(2)</sup><sup>(3)</sup> | Towd Point Mortgage Trust 2017-3 M1, 3.500%, 07/25/2057 | 2141725 | 0.0 |
| 182160 <sup>(3)</sup> | Wachovia Mortgage Loan Trust LLC Series Trust 2005-B 2A1, 6.710%, 10/20/2035 | 179273 | 0.0 |
| 805981 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2005-AR11 A1C3, 4.813%, (TSFR1M + 1.134%), 08/25/2045 | 785091 | 0.0 |
| 31322421 <sup>(3)</sup><sup>(6)</sup> | WaMu Mortgage Pass- Through Certificates 2005-AR11 X, 0.020%, 08/25/2045 | 37473 | 0.0 |
| 174584 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2006-AR12 1A1, 4.494%, 10/25/2036 | 164597 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 128437 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2006-AR12 2A3, 3.660%, 10/25/2036 | $118133 | 0 |
| 392394 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2006-AR14 1A4, 3.988%, 11/25/2036 | 357340 | 0 |
| 413613 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2006-AR16 2A1, 4.118%, 12/25/2036 | 370121 | 0 |
| 940781 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2007-HY2 1A1, 4.108%, 12/25/2036 | 869998 | 0 |
| 249836 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates 2007-HY3 1A1, 3.639%, 03/25/2037 | 211735 | 0 |
| 1408425 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates Series Trust 2004-AR4 A6, 5.373%, 06/25/2034 | 1382807 | 0 |
| 552288 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates Series Trust 2005- AR13 A1C3, 4.773%, (TSFR1M + 1.094%), 10/25/2045 | 535305 | 0 |
| 956227 <sup>(3)</sup> | WaMu Mortgage Pass- Through Certificates Series Trust 2006- AR16 2A3, 4.118%, 12/25/2036 | 855679 | 0 |
| 778299 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 4.693%, (TSFR1M + 1.014%), 11/25/2035 | 706674 | 0 |
| 421710 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | 397629 | 0 |
| 2752777 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 4.819%, (12MTA + 0.960%), 08/25/2046 | 1614920 | 0 |
| 191947 | Washington Mutual Mortgage Pass- Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | 166965 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 394274 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2007-OC1 A3, 4.253%, (TSFR1M + 0.574%), 01/25/2047 | $| 362416 | 0.0 |
| 311936 <sup>(3)</sup> | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 4.223%, (TSFR1M + 0.544%), 06/25/2037 |  | 274504 | 0.0 |
| 290859 | Wells Fargo Alternative Loan Trust 2007- PA3 3A1, 6.250%, 07/25/2037 |  | 257082 | 0.0 |
| 76651 <sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2006-AR4 2A4, 5.715%, 04/25/2036 |  | 76417 | 0.0 |
| 1740821 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.512%, 09/25/2049 |  | 1220350 | 0.0 |
| 703755 <sup>(2)</sup><sup>(3)</sup> | WinWater Mortgage Loan Trust 2015-5 B4, 3.757%, 08/20/2045 |  | 651496 | 0.0 |
|  | Total Collateralized Mortgage Obligations <br> (Cost $1,578,143,047) |  | **1500197486** | **13.4** |
| **ASSET-BACKED SECURITIES: 9.6%** | **ASSET-BACKED SECURITIES: 9.6%** | **ASSET-BACKED SECURITIES: 9.6%** | **ASSET-BACKED SECURITIES: 9.6%** | **ASSET-BACKED SECURITIES: 9.6%** |
|  | **Automobile Asset-Backed Securities: 0.2%** | **Automobile Asset-Backed Securities: 0.2%** | **Automobile Asset-Backed Securities: 0.2%** | **Automobile Asset-Backed Securities: 0.2%** |
| 4284018 <sup>(2)</sup><sup>(3)</sup> | Bayview Opportunity Master Fund VII LLC 2024-CAR1 A, 4.762%, (SOFR30A + 1.100%), 12/26/2031 |  | 4296749 | 0.1 |
| 4091509 <sup>(2)</sup> | Bayview Opportunity Master Fund VII Trust 2024-SN1 A3, 5.660%, 03/15/2028 |  | 4097683 | 0.0 |
| 2100000 | Santander Drive Auto Receivables Trust 2025-4 C, 4.520%, 01/15/2032 |  | 2092802 | 0.0 |
| 8172567 <sup>(2)</sup> | Westlake Automobile Receivables Trust 2024-1A B, 5.550%, 11/15/2027 |  | 8188946 | 0.1 |
|  |  |  | **18676180** | **0.2** |
|  | **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%** |
| 1947665 <sup>(2)</sup><sup>(3)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 |  | 1599552 | 0.0 |
| 3211719 <sup>(3)</sup> | Freddie Mac Structured Pass-Through Certificates T-31 A7, 4.026%, (SOFR30A + 0.364%), 05/25/2031 |  | 3210617 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 2395707 <sup>(3)</sup> | GSAA Trust 2006- 7 AF2, 5.995%, 03/25/2046 | $| 810665 | 0.0 |
| 105605 <sup>(3)</sup> | HSI Asset Loan Obligation Trust 2007- WF1 A6, 6.350%, 12/25/2036 |  | 73521 | 0.0 |
| 391968 <sup>(3)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A3, 4.113%, (TSFR1M + 0.434%), 02/25/2037 |  | 360146 | 0.0 |
| 472160 <sup>(3)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 4.253%, (TSFR1M + 0.574%), 02/25/2037 |  | 432690 | 0.0 |
| 247407 <sup>(3)</sup> | Renaissance Home Equity Loan Trust 2005-3 AF4, 5.640%, 11/25/2035 |  | 247506 | 0.0 |
| 4735035 <sup>(2)</sup> | Unlock HEA Trust 2025-1 A, 6.750%, 07/25/2041 |  | 4752728 | 0.1 |
|  |  |  | **11487425** | **0.1** |
|  | **Other Asset-Backed Securities: 8.7%** | **Other Asset-Backed Securities: 8.7%** | **Other Asset-Backed Securities: 8.7%** | **Other Asset-Backed Securities: 8.7%** |
| 40830000 <sup>(2)</sup><sup>(3)</sup> | 720 East CLO Ltd. 2023-IA A1R, 5.042%, (TSFR3M + 1.370%), 04/15/2038 |  | 40751361 | 0.4 |
| 9160000 <sup>(2)</sup><sup>(3)</sup> | 720 East CLO VII Ltd. 2025-7A B, 5.218%, (TSFR3M + 1.550%), 04/20/2037 |  | 9066504 | 0.1 |
| 7020000 <sup>(2)</sup><sup>(3)</sup> | 720 East CLO VII Ltd. 2025-7A C, 5.368%, (TSFR3M + 1.700%), 04/20/2037 |  | 6953521 | 0.1 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | AB BSL CLO 4 Ltd. 2023-4A A1R, 4.968%, (TSFR3M + 1.300%), 04/20/2038 |  | 1000750 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | AIMCO CLO Series 2018-BA CR3, 5.430%, (TSFR3M + 1.750%), 04/16/2037 |  | 5003750 | 0.0 |
| 18200000 <sup>(2)</sup><sup>(3)</sup> | Allegany Park CLO Ltd. 2019-1A ARR, 4.768%, (TSFR3M + 1.100%), 01/20/2035 |  | 18183584 | 0.2 |
| 8990000 <sup>(2)</sup><sup>(3)</sup> | AMMC CLO 31 Ltd. 2025-31A B, 5.368%, (TSFR3M + 1.700%), 02/20/2038 |  | 9011234 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1464794 <sup>(2)</sup><sup>(3)</sup> | Apidos CLO XXXII 2019-32A A1R, 4.768%, (TSFR3M + 1.100%), 01/20/2033 | $1467119 | 0.0 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Apidos CLO XXXV 2021-35A C, 5.579%, (TSFR3M + 1.912%), 04/20/2034 | 9964500 | 0.1 |
| 3700000 <sup>(2)</sup> | Applebee's Funding LLC / IHOP Funding LLC 2025-1A A2, 6.720%, 06/07/2055 | 3705625 | 0.0 |
| 284007 <sup>(2)</sup> | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 | 276721 | 0.0 |
| 478662 <sup>(2)</sup> | Aqua Finance Trust 2020-AA A, 1.900%, 07/17/2046 | 452204 | 0.0 |
| 22550000 <sup>(2)</sup><sup>(3)</sup> | Ares LXV CLO Ltd. 2022-65A A1R, 4.788%, (TSFR3M + 1.120%), 07/25/2034 | 22533087 | 0.2 |
| 14200000 <sup>(2)</sup><sup>(3)</sup> | Ballyrock CLO 18 Ltd. 2021-18A A2R, 5.322%, (TSFR3M + 1.650%), 04/15/2038 | 14183997 | 0.1 |
| 6250000 <sup>(2)</sup><sup>(3)</sup> | Barings CLO Ltd. 2019-4A CR, 5.872%, (TSFR3M + 2.200%), 07/15/2037 | 6256994 | 0.1 |
| 4399109 <sup>(2)</sup> | Beacon Container Finance II LLC 2021-1A A, 2.250%, 10/22/2046 | 4098408 | 0.0 |
| 13890000 <sup>(2)</sup><sup>(3)</sup> | Benefit Street Partners CLO Ltd. 2015-6BR BR, 5.218%, (TSFR3M + 1.550%), 04/20/2038 | 13886222 | 0.1 |
| 5500000 <sup>(2)</sup><sup>(3)</sup> | Benefit Street Partners CLO XXI Ltd. 2020- 21A A1R2, 4.912%, (TSFR3M + 1.240%), 01/15/2039 | 5495875 | 0.1 |
| 20100000 <sup>(2)</sup><sup>(3)</sup> | Benefit Street Partners CLO XXIX Ltd. 2022- 29A AR, 4.848%, (TSFR3M + 1.180%), 01/25/2038 | 20049911 | 0.2 |
| 8750000 <sup>(2)</sup><sup>(3)</sup> | Birch Grove CLO 10 Ltd. 2024-10A A, 5.059%, (TSFR3M + 1.390%), 01/22/2038 | 8750035 | 0.1 |
| 13650000 <sup>(2)</sup><sup>(3)</sup> | Birch Grove CLO 12 Ltd. 2025-12A A1, 4.839%, (TSFR3M + 1.170%), 04/22/2038 | 13623178 | 0.1 |
| 19040000 <sup>(2)</sup><sup>(3)</sup> | Birch Grove CLO 12 Ltd. 2025-12A B, 5.219%, (TSFR3M + 1.550%), 04/22/2038 | 18823877 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | BlueMountain CLO Ltd. 2014-2A A2R2, 5.329%, (TSFR3M + 1.662%), 10/20/2030 | $1999868 | 0 |
| 2402514 <sup>(2)</sup><sup>(3)</sup> | BlueMountain CLO Ltd. 2016-3A A1R2, 4.853%, (TSFR3M + 1.200%), 11/15/2030 | 2404052 | 0 |
| 2786000 <sup>(2)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 2805131 | 0 |
| 7570000 <sup>(2)</sup><sup>(3)</sup> | Broad River Bsl Funding Clo Ltd. 2020-1A AR, 5.099%, (TSFR3M + 1.432%), 07/20/2034 | 7567017 | 0.1 |
| 4400000 <sup>(2)</sup><sup>(3)</sup> | Broad River Bsl Funding Clo Ltd. 2020-1A CR, 5.929%, (TSFR3M + 2.262%), 07/20/2034 | 4395952 | 0 |
| 3021802 <sup>(2)</sup><sup>(3)</sup> | BSPRT Issuer Ltd. 2023-FL10 A, 5.932%, (TSFR1M + 2.259%), 09/15/2035 | 3025649 | 0 |
| 6600000 <sup>(2)</sup><sup>(3)</sup> | California Street CLO IX L.P. 2012-9A CR3, 6.433%, (TSFR3M + 2.762%), 07/16/2032 | 6613636 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Cedar Funding IV CLO Ltd. 2014-4A CR3, 5.721%, (TSFR3M + 2.050%), 01/23/2038 | 9979650 | 0.1 |
| 13000000 <sup>(2)</sup><sup>(3)</sup> | Cedar Funding VIII Clo Ltd. 2017-8A ARR, 4.888%, (TSFR3M + 1.220%), 01/17/2038 | 12999857 | 0.1 |
| 21278 <sup>(3)</sup> | Chase Funding Trust Series 2003-5 2A2, 4.393%, (TSFR1M + 0.714%), 07/25/2033 | 21385 | 0 |
| 7500000 <sup>(2)</sup> | Cherry Securitization Trust 2025-1A A, 6.130%, 11/15/2032 | 7577595 | 0.1 |
| 7160000 <sup>(2)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2018-2A A1R, 5.038%, (TSFR3M + 1.370%), 10/20/2037 | 7166172 | 0.1 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2019-6A A2R, 5.371%, (TSFR3M + 1.700%), 07/16/2037 | 2988054 | 0 |
| 21000000 <sup>(2)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2022-4A AR, 4.761%, (TSFR3M + 1.090%), 07/16/2035 | 20970894 | 0.2 |
| 1492849 <sup>(2)</sup> | CLI Funding VI LLC 2020-1A A, 2.080%, 09/18/2045 | 1405410 | 0 |
| 4480239 <sup>(2)</sup> | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 4158756 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 4441250 <sup>(2)</sup> | DB Master Finance LLC 2019-1A A23, 4.352%, 05/20/2049 | $4396479 | 0.0 |
| 5090802 <sup>(2)</sup> | Driven Brands Funding LLC 2021-1A A2, 2.791%, 10/20/2051 | 4599773 | 0.0 |
| 6400000 <sup>(2)</sup><sup>(3)</sup> | Dryden 49 Senior Loan Fund 2017-49A CR, 5.979%, (TSFR3M + 2.312%), 07/18/2030 | 6407974 | 0.1 |
| 11400000 <sup>(2)</sup><sup>(3)</sup> | Dryden 75 CLO Ltd. 2019-75A CR2, 5.734%, (TSFR3M + 2.062%), 04/15/2034 | 11343673 | 0.1 |
| 14850000 <sup>(2)</sup><sup>(3)</sup> | Elevation CLO Ltd. 2023-17A BR, 5.318%, (TSFR3M + 1.650%), 10/20/2036 | 14749079 | 0.1 |
| 22500000 <sup>(2)</sup><sup>(3)</sup> | Elmwood CLO IV Ltd. 2020-1A AR, 5.128%, (TSFR3M + 1.460%), 04/18/2037 | 22507065 | 0.2 |
| 17790000 <sup>(2)</sup><sup>(3)</sup> | Elmwood CLO IX Ltd. 2021-2A BR, 5.218%, (TSFR3M + 1.550%), 04/20/2038 | 17802631 | 0.2 |
| 8990000 <sup>(2)</sup><sup>(3)</sup> | Elmwood CLO XI Ltd. 2021-4A BR, 5.218%, (TSFR3M + 1.550%), 01/20/2038 | 8995160 | 0.1 |
| 21900000 <sup>(2)</sup><sup>(3)</sup> | Empower CLO Ltd. 2022-1A A1R, 5.058%, (TSFR3M + 1.390%), 10/20/2037 | 21900591 | 0.2 |
| 5184375 <sup>(2)</sup> | Five Guys Holdings, Inc. 2023-1A A2, 7.549%, 01/26/2054 | 5285958 | 0.1 |
| 1947255 <sup>(2)</sup><sup>(3)</sup> | FS Rialto 2021-FL3 A, 5.037%, (TSFR1M + 1.364%), 11/16/2036 | 1947107 | 0.0 |
| 4619375 <sup>(2)</sup> | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 4648888 | 0.0 |
| 331597 <sup>(2)</sup> | HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040 | 318181 | 0.0 |
| 319239 <sup>(2)</sup> | HERO Funding Trust 2016-2A A, 3.750%, 09/20/2041 | 303553 | 0.0 |
| 857146 <sup>(2)</sup> | HERO Funding Trust 2016-4A A2, 4.290%, 09/20/2047 | 821926 | 0.0 |
| 17750000 <sup>(2)</sup><sup>(3)</sup> | Invesco CLO Ltd. 2021-3A BR, 5.169%, (TSFR3M + 1.500%), 10/22/2034 | 17679657 | 0.2 |
| 7722000 <sup>(2)</sup> | Jersey Mike's Funding LLC 2024-1A A2, 5.636%, 02/15/2055 | 7820957 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 15250000 <sup>(2)</sup><sup>(3)</sup> | KKR Clo 33 Ltd. 33A BR, 5.268%, (TSFR3M + 1.600%), 07/20/2034 | $15212088 | 0.1 |
| 10030000 <sup>(2)</sup><sup>(3)</sup> | Lakeside Park CLO Ltd. 2025-1A B1, 5.222%, (TSFR3M + 1.550%), 04/15/2038 | 10027543 | 0.1 |
| 1733781 <sup>(2)</sup><sup>(3)</sup> | LCM 30 Ltd. 30A AR, 5.009%, (TSFR3M + 1.342%), 04/20/2031 | 1736442 | 0 |
| 6401342 <sup>(2)</sup> | Loanpal Solar Loan Ltd. 2021-2GS A, 2.220%, 03/20/2048 | 5056399 | 0.1 |
| 10580000 <sup>(2)</sup><sup>(3)</sup> | Magnetite Xlv Ltd. 2025-45A B, 5.222%, (TSFR3M + 1.550%), 04/15/2038 | 10558015 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Magnetite XXXI Ltd. 2021-31A A1R, 4.672%, (TSFR3M + 1.000%), 07/15/2034 | 9975000 | 0.1 |
| 2718736 <sup>(2)</sup><sup>(3)</sup> | MF1 Ltd. 2022-FL8 A, 5.027%, (TSFR1M + 1.350%), 02/19/2037 | 2719200 | 0 |
| 3500000 <sup>(2)</sup><sup>(3)</sup> | MF1 Ltd. 2024-FL14 A, 5.410%, (TSFR1M + 1.737%), 03/19/2039 | 3507453 | 0 |
| 7500000 <sup>(2)</sup><sup>(3)</sup> | MF1 Ltd. 2024-FL15 A, 6.988%, (TSFR1M + 1.688%), 08/18/2041 | 7524697 | 0.1 |
| 478130 <sup>(2)</sup> | Mill City Solar Loan Ltd. 2019-1A A, 4.340%, 03/20/2043 | 448377 | 0 |
| 2490520 <sup>(2)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 2259042 | 0 |
| 1546277 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 1458887 | 0 |
| 2606450 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-2GS A, 4.200%, 02/22/2044 | 2438469 | 0 |
| 335095 <sup>(2)</sup> | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 304468 | 0 |
| 2132870 <sup>(2)</sup> | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 1892636 | 0 |
| 2442529 <sup>(2)</sup> | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 2101424 | 0 |
| 4841327 <sup>(2)</sup> | Mosaic Solar Loan Trust 2020-2A A, 1.440%, 08/20/2046 | 4097333 | 0 |
| 2279153 <sup>(2)</sup> | Mosaic Solar Loan Trust 2021-1A B, 2.050%, 12/20/2046 | 1786580 | 0 |
| 6643617 <sup>(2)</sup> | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | 6315705 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 905432 <sup>(2)</sup> | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | $856714 | 0 |
| 4885077 <sup>(2)</sup> | Mosaic Solar Loans LLC 2024-1A A, 5.500%, 09/20/2049 | 4640194 | 0 |
| 9100000 <sup>(2)</sup><sup>(3)</sup> | Neuberger Berman CLO XVII Ltd. 2014- 17A AR3, 5.069%, (TSFR3M + 1.400%), 07/22/2038 | 9105333 | 0.1 |
| 6000000 <sup>(2)</sup><sup>(3)</sup> | Oaktree CLO Ltd. 2023-1A BR, 5.672%, (TSFR3M + 2.000%), 04/15/2038 | 6016386 | 0.1 |
| 4600000 <sup>(2)</sup><sup>(3)</sup> | Ocean Trails CLO XVII Ltd. 2025-17A C, 5.710%, (TSFR3M + 1.850%), 03/20/2038 | 4577028 | 0 |
| 6010000 <sup>(2)</sup><sup>(3)</sup> | OCP Clo Ltd. 2019-17A AR2, 5.068%, (TSFR3M + 1.400%), 07/20/2037 | 6012001 | 0.1 |
| 5930000 <sup>(2)</sup><sup>(3)</sup> | Octagon 58 Ltd. 2022-1A BR, 5.422%, (TSFR3M + 1.750%), 04/15/2038 | 5934305 | 0.1 |
| 13850000 <sup>(2)</sup><sup>(3)</sup> | Octagon Investment Partners 29 Ltd. 2016- 1A A1R2, 5.088%, (TSFR3M + 1.420%), 07/18/2037 | 13865276 | 0.1 |
| 4500000 <sup>(2)</sup><sup>(3)</sup> | Octagon Investment Partners 32 Ltd. 2017- 1A CR3, 5.722%, (TSFR3M + 2.050%), 10/31/2037 | 4507717 | 0 |
| 11750000 <sup>(2)</sup><sup>(3)</sup> | Octagon Investment Partners 50 Ltd. 2020- 4A BR2, 5.222%, (TSFR3M + 1.550%), 01/15/2035 | 11705832 | 0.1 |
| 6700000 <sup>(2)</sup><sup>(3)</sup> | OHA Credit Funding 9 Ltd. 2021-9A CR, 5.618%, (TSFR3M + 1.950%), 10/19/2037 | 6708831 | 0.1 |
| 10700000 <sup>(2)</sup><sup>(3)</sup> | OHA Credit Partners VII Ltd. 2012-7A CR4, 5.356%, (TSFR3M + 1.700%), 02/20/2038 | 10642819 | 0.1 |
| 7045149 <sup>(2)</sup><sup>(3)</sup> | OZLM XV Ltd. 2016- 15A A1R3, 4.718%, (TSFR3M + 1.050%), 04/20/2033 | 7049306 | 0.1 |
| 4225205 <sup>(2)</sup> | Pagaya AI Debt Grantor Trust 2024-11 B, 5.637%, 07/15/2032 | 4251339 | 0 |
| 21880000 <sup>(2)</sup><sup>(3)</sup> | Palmer Square CLO Ltd. 2021-1A A2R, 5.168%, (TSFR3M + 1.500%), 04/20/2038 | 21762920 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 5800000 <sup>(2)</sup><sup>(3)</sup> | Palmer Square CLO Ltd. 2021-1A BR, 5.468%, (TSFR3M + 1.800%), 04/20/2038 | $5764510 | 0.1 |
| 7410000 <sup>(2)</sup><sup>(3)</sup> | Palmer Square Loan Funding Ltd. 2025-1A B, 5.253%, (TSFR3M + 1.600%), 02/15/2033 | 7357693 | 0.1 |
| 8600000 <sup>(2)</sup><sup>(3)</sup> | Park Avenue Institutional Advisers CLO Ltd. 2017- 1A A2R2, 5.203%, (TSFR3M + 1.550%), 02/14/2034 | 8588889 | 0.1 |
| 11850000 <sup>(2)</sup><sup>(3)</sup> | Recette Clo Ltd. 2015- 1A BR3, 5.218%, (TSFR3M + 1.550%), 04/20/2034 | 11826869 | 0.1 |
| 12974382 <sup>(2)</sup> | Sabal Issuer 2025 1 LLC 2025-1A A, 6.280%, 11/01/2060 | 13049532 | 0.1 |
| 4850000 <sup>(2)</sup> | Sabal Issuer LLC 2026-1A A1, 6.000%, 05/02/2061 | 4868595 | 0.0 |
| 5635000 <sup>(2)</sup> | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 5777764 | 0.1 |
| 1995000 <sup>(2)</sup> | SERVPRO Master Issuer LLC 2025-1A A2, 5.525%, 10/25/2055 | 1978815 | 0.0 |
| 4652000 <sup>(2)</sup> | SoFi Consumer Loan Program Trust 2025-1 C, 5.420%, 02/27/2034 | 4711734 | 0.0 |
| 6892417 <sup>(2)</sup> | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 | 6827562 | 0.1 |
| 3820000 <sup>(2)</sup> | Sonic Capital LLC 2021-1A A2II, 2.636%, 08/20/2051 | 3273170 | 0.0 |
| 18000000 <sup>(2)</sup><sup>(3)</sup> | Sound Point Clo XVI Ltd. 2017-2A CR, 6.130%, (TSFR3M + 2.462%), 07/25/2030 | 18021222 | 0.2 |
| 9950000 <sup>(2)</sup><sup>(3)</sup> | Sound Point CLO XXIX Ltd. 2021-1A CR, 5.518%, (TSFR3M + 1.850%), 04/25/2034 | 9901404 | 0.1 |
| 16372297 <sup>(2)</sup><sup>(3)</sup> | Sound Point CLO XXVIII Ltd. 2020-3A A1R, 4.948%, (TSFR3M + 1.280%), 01/25/2032 | 16394645 | 0.2 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | Sound Point CLO XXXIII Ltd. 2022-1A BR, 5.418%, (TSFR3M + 1.750%), 04/20/2035 | 3000330 | 0.0 |
| 3693634 <sup>(2)</sup> | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 | 3570045 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2695469 <sup>(2)</sup> | Sunnova Helios V Issuer LLC 2021-A A, 1.800%, 02/20/2048 | $2005045 | 0.0 |
| 11717506 <sup>(2)</sup> | Sunnova Helios XI Issuer LLC 2023-A A, 5.300%, 05/20/2050 | 10797997 | 0.1 |
| 6699474 <sup>(2)</sup> | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | 5822398 | 0.1 |
| 7461528 <sup>(2)</sup> | Sunnova Sol III Issuer LLC 2021-1 A, 2.580%, 04/28/2056 | 6382274 | 0.1 |
| 3692878 <sup>(2)</sup> | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 | 3573368 | 0.0 |
| 5988398 <sup>(2)</sup> | Sunrun Bacchus Issuer LLC 2025-1A A1, 5.990%, 04/30/2060 | 6014538 | 0.1 |
| 4010978 <sup>(2)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 3851694 | 0.0 |
| 3494901 <sup>(2)</sup> | Sunrun Pangea Issuer LLC 2025-2A A1, 6.150%, 01/30/2054 | 3493070 | 0.0 |
| 2484902 <sup>(2)</sup> | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 2390160 | 0.0 |
| 11990000 <sup>(2)</sup><sup>(3)</sup> | Symphony Clo 47 Ltd. 2025-47A B, 5.218%, (TSFR3M + 1.550%), 04/20/2038 | 11869105 | 0.1 |
| 2948233 <sup>(2)</sup><sup>(3)</sup> | Symphony CLO XVI Ltd. 2015-16A ARR, 4.872%, (TSFR3M + 1.200%), 10/15/2031 | 2949752 | 0.0 |
| 2000000 <sup>(2)</sup> | Taco Bell Funding LLC 2025-1A A2I, 4.821%, 08/25/2055 | 1973687 | 0.0 |
| 4370000 <sup>(2)</sup> | Textainer Marine Containers Ltd. 2021-3A A, 1.940%, 08/20/2046 | 3888006 | 0.0 |
| 3649000 <sup>(2)</sup> | Textainer Marine Containers VII Ltd. 2021-1A A, 1.680%, 02/20/2046 | 3432943 | 0.0 |
| 12450000 <sup>(2)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 12481063 | 0.1 |
| 12000000 <sup>(2)</sup><sup>(3)</sup> | TruPS Financials Note Securitization 2026-1A A1, 5.423%, (TSFR3M + 1.750%), 01/15/2038 | 12060300 | 0.1 |
| 8020348 <sup>(2)</sup><sup>(3)</sup> | Venture 37 CLO Ltd. 2019-37A A1RR, 4.922%, (TSFR3M + 1.250%), 07/15/2032 | 8024069 | 0.1 |
| 3384449 <sup>(2)</sup> | Wendy's Funding LLC 2018-1A A2II, 3.884%, 03/15/2048 | 3323767 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 12580000 <sup>(2)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2016-1KRA BR3, 5.272%, (TSFR3M + 1.600%), 10/15/2034 | $| 12517578 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2021-1A CR, 5.918%, (TSFR3M + 2.250%), 07/20/2037 |  | 10009880 | 0.1 |
| 8300000 <sup>(2)</sup><sup>(3)</sup> | Wind River CLO Ltd. 2021-2A BR, 5.268%, (TSFR3M + 1.600%), 07/20/2034 |  | 8260293 | 0.1 |
| 7900000 <sup>(2)</sup> | Wingstop Funding LLC 2024-1A A2, 5.858%, 12/05/2054 |  | 8037547 | 0.1 |
| 15136750 <sup>(2)</sup> | Zaxby's Funding LLC 2021-1A A2, 3.238%, 07/30/2051 |  | 14377492 | 0.1 |
|  |  |  | **970650751** | **8.7** |
|  | **Student Loan Asset-Backed Securities: 0.6%** | **Student Loan Asset-Backed Securities: 0.6%** | **Student Loan Asset-Backed Securities: 0.6%** | **Student Loan Asset-Backed Securities: 0.6%** |
| 265915 <sup>(2)</sup> | Commonbond Student Loan Trust 2016-B B, 4.000%, 10/25/2040 |  | 250659 | 0.0 |
| 348465 <sup>(2)</sup> | Commonbond Student Loan Trust-GS 2017- BGS B, 3.260%, 09/25/2042 |  | 290914 | 0.0 |
| 69007 <sup>(2)</sup> | Commonbond Student Loan Trust-GS 2018- AGS C, 3.820%, 02/25/2044 |  | 57578 | 0.0 |
| 2020957 <sup>(2)</sup> | Commonbond Student Loan Trust-GS 2020- AGS A, 1.980%, 08/25/2050 |  | 1817297 | 0.0 |
| 1090221 <sup>(2)</sup><sup>(3)</sup> | ELFI Graduate Loan Program LLC 2021-A B, 2.090%, 12/26/2046 |  | 896298 | 0.0 |
| 2243124 <sup>(2)</sup> | Laurel Road Prime Student Loan Trust 2020-A A2FX, 1.400%, 11/25/2050 |  | 2096049 | 0.0 |
| 1178386 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2020-DA A, 1.690%, 05/15/2069 |  | 1126052 | 0.0 |
| 1451056 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 |  | 1361456 | 0.0 |
| 6267168 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2020-HA A, 1.310%, 01/15/2069 |  | 5958265 | 0.1 |
| 2939955 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-BA A, 0.940%, 07/15/2069 |  | 2684242 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 4519580 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-DA C, 3.480%, 04/15/2060 | $4218011 | 0.0 |
| 1850000 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-FA B, 2.120%, 02/18/2070 | 1323412 | 0.0 |
| 1077943 <sup>(2)</sup> | Nelnet Student Loan Trust 2025-DA A1A, 4.650%, 08/20/2054 | 1065516 | 0.0 |
| 2700000 <sup>(2)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 2445094 | 0.0 |
| 929454 <sup>(2)</sup> | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | 923742 | 0.0 |
| 5816152 <sup>(2)</sup> | SMB Private Education Loan Trust 2019- B A2A, 2.840%, 06/15/2037 | 5715192 | 0.1 |
| 1659646 <sup>(2)</sup> | SMB Private Education Loan Trust 2023- A A1A, 5.380%, 01/15/2053 | 1678357 | 0.0 |
| 1900000 <sup>(2)</sup> | SMB Private Education Loan Trust 2023-A B, 5.880%, 01/15/2053 | 1926855 | 0.0 |
| 13799855 <sup>(2)</sup> | SMB Private Education Loan Trust-A 2020- PTA A2A, 1.600%, 09/15/2054 | 13053122 | 0.1 |
| 3000000 <sup>(2)</sup> | Sofi Professional Loan Program LLC 2019- B BFX, 3.730%, 08/17/2048 | 2825676 | 0.0 |
| 7376918 <sup>(2)</sup> | Sofi Professional Loan Program Trust 2018-B BFX, 3.830%, 08/25/2047 | 7157278 | 0.1 |
| 355633 <sup>(2)</sup> | Sofi Professional Loan Program Trust 2018- D A2FX, 3.600%, 02/25/2048 | 353871 | 0.0 |
| 5800000 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 | 5619816 | 0.1 |
| 6000000 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | 5804170 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 3905860 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2020-C AFX, 1.950%, 02/15/2046 | $| 3680328 | 0 |
|  |  |  | **74329250** | **0.6** |
|  | Total Asset-Backed Securities <br> (Cost $1,089,066,054) |  | **1075143606** | **9.6** |
| **U.S. TREASURY OBLIGATIONS: 8.0%** | **U.S. TREASURY OBLIGATIONS: 8.0%** | **U.S. TREASURY OBLIGATIONS: 8.0%** | **U.S. TREASURY OBLIGATIONS: 8.0%** | **U.S. TREASURY OBLIGATIONS: 8.0%** |
|  | **United States Treasury Bonds: 3.1%** | **United States Treasury Bonds: 3.1%** | **United States Treasury Bonds: 3.1%** | **United States Treasury Bonds: 3.1%** |
| 294897800 <sup>(1)</sup> | 4.625%, 02/15/2046 |  | 284322948 | 2.6 |
| 35227800 | 4.625%, 11/15/2055 |  | 33664566 | 0.3 |
| 20000000 <sup>(1)</sup> | 4.750%, 02/15/2041 |  | 20117188 | 0.2 |
|  |  |  | **338104702** | **3.1** |
|  | **United States Treasury Notes: 4.9%** | **United States Treasury Notes: 4.9%** | **United States Treasury Notes: 4.9%** | **United States Treasury Notes: 4.9%** |
| 132405800 <sup>(1)</sup> | 3.500%, 03/15/2029 |  | 131242077 | 1.2 |
| 203237900 | 3.875%, 03/31/2028 |  | 203547521 | 1.8 |
| 70998700 | 3.875%, 03/31/2031 |  | 70774056 | 0.6 |
| 17903600 <sup>(1)</sup> | 4.000%, 01/15/2027 |  | 17940303 | 0.2 |
| 8587200 | 4.125%, 02/15/2036 |  | 8453696 | 0.1 |
| 105934500 | 4.250%, 03/31/2033 |  | 106671075 | 1 |
|  |  |  | **538628728** | **4.9** |
|  | Total U.S. Treasury Obligations <br> (Cost $888,097,474) |  | **876733430** | **8.0** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 7.7%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 7.7%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 7.7%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 7.7%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 7.7%** |
| 6500000 <sup>(2)</sup><sup>(3)</sup> | 1345T 2025-AOA A, 5.273%, (TSFR1M + 1.600%), 06/15/2042 |  | 6489874 | 0.1 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Acore Issuer LLC 2026-FL1 A, 5.125%, (TSFR1M + 1.450%), 08/20/2043 |  | 2002106 | 0 |
| 8400000 <sup>(2)</sup><sup>(3)</sup> | ACREC LLC 2026-FL4 A, 5.130%, (TSFR1M + 1.450%), 01/18/2043 |  | 8415929 | 0.1 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | ACRES Commercial Realty Issuer LLC 2026-FL4 A, 5.110%, (TSFR1M + 1.450%), 08/18/2044 |  | 7011797 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | ACRES LLC 2025-FL3 A, 5.299%, (TSFR1M + 1.619%), 08/18/2040 |  | 5017961 | 0.1 |
| 2350000 <sup>(2)</sup><sup>(3)</sup> | Arbor Realty Commercial Real Estate Notes LLC 2026-FL1 A, 5.170%, (TSFR1M + 1.500%), 09/20/2043 |  | 2354607 | 0 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.423%, (TSFR1M + 1.750%), 06/15/2035 |  | 9976632 | 0.1 |
| 3559122 <sup>(2)</sup><sup>(3)</sup> | AREIT LLC 2023-CRE8 A, 5.790%, (TSFR1M + 2.112%), 08/17/2041 |  | 3563589 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 439396 <sup>(2)</sup><sup>(3)</sup> | AREIT Ltd. 2024-CRE9 A, 5.359%, (TSFR1M + 1.686%), 05/17/2041 | $439433 | 0.0 |
| 6000000 <sup>(2)</sup><sup>(3)</sup> | AREIT Ltd. 2025- CRE10 A, 5.066%, (TSFR1M + 1.388%), 12/17/2029 | 5999803 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | ARES Commercial Mortgage Trust 2024-IND A, 5.364%, (TSFR1M + 1.692%), 07/15/2041 | 5007854 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | ARES Commercial Mortgage Trust 2024- IND2 A, 5.116%, (TSFR1M + 1.443%), 10/15/2034 | 10011612 | 0.1 |
| 6500000 <sup>(2)</sup><sup>(3)</sup> | ARES Trust 2025-IND3 A, 5.173%, (TSFR1M + 1.500%), 04/15/2042 | 6508809 | 0.1 |
| 1500000 <sup>(2)</sup> | ARZ Trust 2024-BILT C, 6.361%, 06/11/2039 | 1514952 | 0.0 |
| 3600000 <sup>(2)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM A, 5.049%, 11/10/2029 | 3638831 | 0.0 |
| 4000000 <sup>(2)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM B, 5.501%, 11/10/2029 | 4063011 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | Atrium Hotel Portfolio Trust 2025-ATRM A, 5.323%, (TSFR1M + 1.650%), 08/15/2042 | 5011831 | 0.1 |
| 1350000 <sup>(2)</sup><sup>(3)</sup> | BAHA Trust 2024-MAR A, 5.574%, 12/10/2041 | 1379319 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | BAHA Trust 2024-MAR B, 6.385%, 12/10/2041 | 2580434 | 0.0 |
| 7500000 <sup>(2)</sup><sup>(3)</sup> | BAMLL Trust 2025- ASHF B, 6.023%, (TSFR1M + 2.350%), 02/15/2042 | 7490198 | 0.1 |
| 27589235 <sup>(3)</sup><sup>(6)</sup> | BANK 2017-BNK4 XA, 1.323%, 05/15/2050 | 183413 | 0.0 |
| 4500000 | BANK 2017-BNK7 B, 3.949%, 09/15/2060 | 4181484 | 0.0 |
| 172837068 <sup>(3)</sup><sup>(6)</sup> | BANK 2018-BN14 XA, 0.499%, 09/15/2060 | 1807193 | 0.0 |
| 21289934 <sup>(3)</sup><sup>(6)</sup> | BANK 2019-BN16 XA, 0.929%, 02/15/2052 | 410002 | 0.0 |
| 86487371 <sup>(3)</sup><sup>(6)</sup> | BANK 2019-BN19 XA, 0.936%, 08/15/2061 | 2230687 | 0.0 |
| 5833870 <sup>(3)</sup><sup>(6)</sup> | BANK 2020-BN30 XA, 1.248%, 12/15/2053 | 259967 | 0.0 |
| 2500000 <sup>(3)</sup> | BANK5 2024-5YR10 C, 5.743%, 10/15/2057 | 2483321 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | BAR Issuer LLC 2026-FL1 A, 5.300%, (TSFR1M + 1.600%), 08/20/2043 | 5001142 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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><sup>(3)</sup> | BAY Mortgage Trust 2025-LIVN A, 5.473%, (TSFR1M + 1.800%), 05/15/2035 | $996456 | 0 |
| 10822966 <sup>(3)</sup><sup>(6)</sup> | BBCMS Mortgage Trust 2022-C17 XA, 1.149%, 09/15/2055 | 655137 | 0 |
| 18140357 <sup>(3)</sup><sup>(6)</sup> | BBCMS Trust 2021- C10 XA, 1.194%, 07/15/2054 | 845079 | 0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | BDS LLC 2024-FL13 A, 5.253%, (TSFR1M + 1.576%), 09/19/2039 | 2003979 | 0 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | BDS LLC 2025-FL15 A, 5.077%, (TSFR1M + 1.400%), 03/19/2043 | 10003775 | 0.1 |
| 9000000 <sup>(2)</sup><sup>(3)</sup> | BDS LLC 2025-FL16 A, 5.077%, (TSFR1M + 1.400%), 06/19/2043 | 9007715 | 0.1 |
| 625849 <sup>(2)</sup><sup>(3)</sup> | BDS Ltd. 2021-FL10 A, 5.144%, (TSFR1M + 1.464%), 12/16/2036 | 625915 | 0 |
| 3920000 <sup>(3)</sup> | Benchmark Mortgage Trust 2018-B3 AS, 4.195%, 04/10/2051 | 3770900 | 0 |
| 3000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2018-B3 B, 4.295%, 04/10/2051 | 2806792 | 0 |
| 46403671 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2019-B12 XA, 1.016%, 08/15/2052 | 1059301 | 0 |
| 32517909 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2019-B9 XA, 0.998%, 03/15/2052 | 704416 | 0 |
| 23186997 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2020-B17 XA, 1.393%, 03/15/2053 | 969907 | 0 |
| 91437620 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2020-B19 XA, 1.658%, 09/15/2053 | 3866092 | 0 |
| 52019821 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2020-B20 XA, 1.521%, 10/15/2053 | 2428720 | 0 |
| 44745863 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2020-B21 XA, 1.403%, 12/17/2053 | 2259216 | 0 |
| 4687311 <sup>(3)</sup><sup>(6)</sup> | Benchmark Mortgage Trust 2021-B28 XA, 1.236%, 08/15/2054 | 218970 | 0 |
| 2250000 <sup>(2)</sup> | Benchmark Mortgage Trust 2021-B30 D, 2.000%, 11/15/2054 | 1387731 | 0 |
| 3000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2022-B34 A5, 3.786%, 04/15/2055 | 2775826 | 0 |
| 5000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V16 C, 5.952%, 08/15/2058 | 5053359 | 0.1 |
| 2250000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V17 C, 5.873%, 09/15/2058 | 2258091 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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 | Benchmark Mortgage Trust 2025-V18 C, 6.139%, 10/15/2058 | $4991810 | 0.1 |
| 3400000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V19 C, 5.751%, 01/15/2058 | 3381379 | 0.0 |
| 1809000 | Benchmark Mortgage Trust 2026-V21 C, 6.006%, 03/15/2031 | 1789984 | 0.0 |
| 4500000 <sup>(2)</sup><sup>(3)</sup> | BFLD Commercial Mortgage Trust 2024- UNIV A, 5.165%, (TSFR1M + 1.493%), 11/15/2041 | 4506893 | 0.0 |
| 4634985 <sup>(2)</sup><sup>(3)</sup> | BFLD Mortgage Trust 2024-WRHS C, 6.113%, (TSFR1M + 2.441%), 07/15/2039 | 4643421 | 0.0 |
| 7500000 <sup>(2)</sup><sup>(3)</sup> | BFLD Trust 2025-EWEST A, 5.223%, (TSFR1M + 1.550%), 06/15/2042 | 7487495 | 0.1 |
| 9000000 <sup>(2)</sup><sup>(3)</sup> | BHMS Commercial Mortgage Trust 2025- ATLS B, 6.223%, (TSFR1M + 2.550%), 08/15/2042 | 9022376 | 0.1 |
| 6295555 <sup>(2)</sup><sup>(7)</sup> | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | 5580491 | 0.1 |
| 6784173 <sup>(2)</sup> | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.344%, 05/25/2052 | 5927846 | 0.1 |
| 750000 <sup>(3)</sup> | BMO Mortgage Trust 2024-5C6 C, 5.885%, 09/15/2057 | 744126 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | BMP 2024-MF23 C, 5.514%, (TSFR1M + 1.841%), 06/15/2041 | 5005184 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | Brspl3 Ltd. 2026-FL3 A, 5.127%, (TSFR1M + 1.450%), 08/19/2043 | 10012387 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.064%, (TSFR1M + 1.386%), 01/17/2043 | 4998573 | 0.1 |
| 7651238 <sup>(2)</sup><sup>(3)</sup> | BX 2024-BRVE A, 5.514%, (TSFR1M + 1.841%), 04/15/2041 | 7663347 | 0.1 |
| 5192308 <sup>(2)</sup><sup>(3)</sup> | BX 2024-PALM A, 5.214%, (TSFR1M + 1.541%), 06/15/2037 | 5195006 | 0.1 |
| 5302500 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2021- 21M E, 5.958%, (TSFR1M + 2.285%), 10/15/2036 | 5302462 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 3357131 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024- AIR2 A, 5.165%, (TSFR1M + 1.492%), 10/15/2041 | $3364232 | 0.0 |
| 4935031 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024- KING A, 5.214%, (TSFR1M + 1.541%), 05/15/2034 | 4940470 | 0.1 |
| 1987726 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024- MDHS A, 5.314%, (TSFR1M + 1.641%), 05/15/2041 | 1990055 | 0.0 |
| 5295904 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-MF D, 6.362%, (TSFR1M + 2.690%), 02/15/2039 | 5306180 | 0.1 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024- XL5 C, 5.613%, (TSFR1M + 1.941%), 03/15/2041 | 7011957 | 0.1 |
| 8892027 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2025-JDI A, 5.073%, (TSFR1M + 1.400%), 11/15/2042 | 8907464 | 0.1 |
| 2250000 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2026- CSMO A, 5.073%, (TSFR1M + 1.400%), 02/15/2043 | 2253373 | 0.0 |
| 7500000 <sup>(2)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2026- VLT9 A, 5.373%, (TSFR1M + 1.700%), 03/15/2045 | 7478279 | 0.1 |
| 3800000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2021-LBA EJV, 6.037%, (TSFR1M + 2.364%), 02/15/2036 | 3797123 | 0.0 |
| 1423458 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2021-LBA EV, 6.037%, (TSFR1M + 2.364%), 02/15/2036 | 1422380 | 0.0 |
| 927976 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2021-SDMF E, 5.374%, (TSFR1M + 1.701%), 09/15/2034 | 927022 | 0.0 |
| 1283331 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2024-CNYN C, 5.614%, (TSFR1M + 1.941%), 04/15/2041 | 1284274 | 0.0 |
| 6021564 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2024-FNX A, 5.115%, (TSFR1M + 1.442%), 11/15/2041 | 6028703 | 0.1 |
| 3500000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2024-VLT4 A, 5.164%, (TSFR1M + 1.491%), 06/15/2041 | 3482464 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-DELC A, 5.223%, (TSFR1M + 1.550%), 12/15/2042 | 3007291 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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>(2)</sup><sup>(3)</sup> | BX Trust 2025-GW A, 5.273%, (TSFR1M + 1.600%), 07/15/2042 | $5009146 | 0.1 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-GW B, 5.523%, (TSFR1M + 1.850%), 07/15/2042 | 1501712 | 0 |
| 1945650 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-LUNR A, 5.173%, (TSFR1M + 1.500%), 06/15/2040 | 1950163 | 0 |
| 1945650 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-LUNR B, 5.523%, (TSFR1M + 1.850%), 06/15/2040 | 1947809 | 0 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-OMG A, 5.023%, (TSFR1M + 1.350%), 10/15/2042 | 6992422 | 0.1 |
| 4880078 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-ROIC C, 5.216%, (TSFR1M + 1.543%), 03/15/2030 | 4845142 | 0 |
| 7200000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-VLT6 C, 5.865%, (TSFR1M + 2.192%), 03/15/2042 | 7143194 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2025-VOLT C, 6.023%, (TSFR1M + 2.350%), 12/15/2044 | 4981160 | 0.1 |
| 2400000 <sup>(2)</sup><sup>(3)</sup> | BX Trust 2026-CART A, 4.723%, (TSFR1M + 1.050%), 02/15/2036 | 2382943 | 0 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | BXMT Ltd. 2026-FL6 A, 5.127%, (TSFR1M + 1.450%), 08/19/2043 | 10004382 | 0.1 |
| 9672140 <sup>(2)</sup><sup>(3)</sup> | BXSC Commercial Mortgage Trust 2022- WSS C, 6.064%, (TSFR1M + 2.391%), 03/15/2035 | 9674876 | 0.1 |
| 2901642 <sup>(2)</sup><sup>(3)</sup> | BXSC Commercial Mortgage Trust 2022- WSS E, 7.807%, (TSFR1M + 4.134%), 03/15/2035 | 2901815 | 0 |
| 4000000 <sup>(2)</sup><sup>(3)</sup> | Caliun 2024-SUN A, 5.560%, (TSFR1M + 1.891%), 07/15/2041 | 4005639 | 0 |
| 4259000 <sup>(3)</sup> | Cantor Commercial Real Estate Lending 2019-CF3 B, 3.500%, 01/15/2053 | 3759197 | 0 |
| 58216017 <sup>(3)</sup><sup>(6)</sup> | CCUBS Commercial Mortgage Trust 2017- C1 XA, 0.941%, 11/15/2050 | 616199 | 0 |
| 234620 <sup>(3)</sup><sup>(6)</sup> | CD Mortgage Trust 2016-CD1, 1.451%, 08/10/2049 | 821 | 0 |
| 24258671 <sup>(3)</sup><sup>(6)</sup> | CD Mortgage Trust 2017-CD4 XA, 1.203%, 05/10/2050 | 136516 | 0 |
| 4500000 <sup>(3)</sup> | CD Mortgage Trust 2018-CD7 AM, 4.510%, 08/15/2051 | 4417938 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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>(2)</sup> | CFK Trust 2020-MF2 C, 2.995%, 03/15/2039 | $1854478 | 0.0 |
| 25583921 <sup>(3)</sup><sup>(6)</sup> | Citigroup Commercial Mortgage Trust 2016- P4 XA, 1.857%, 07/10/2049 | 1283 | 0.0 |
| 2910000 <sup>(3)</sup> | Citigroup Commercial Mortgage Trust 2017- P8 AS, 3.789%, 09/15/2050 | 2758813 | 0.0 |
| 35818052 <sup>(3)</sup><sup>(6)</sup> | Citigroup Commercial Mortgage Trust 2017- P8 XA, 0.847%, 09/15/2050 | 358302 | 0.0 |
| 67822662 <sup>(3)</sup><sup>(6)</sup> | Citigroup Commercial Mortgage Trust 2018- C5 XA, 0.656%, 06/10/2051 | 799226 | 0.0 |
| 799000 <sup>(2)</sup><sup>(3)</sup> | Citigroup Commercial Mortgage Trust 2023- SMRT C, 5.852%, 10/12/2040 | 803509 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Citigroup Commercial Mortgage Trust 2023- SMRT D, 5.852%, 10/12/2040 | 995837 | 0.0 |
| 1590600 <sup>(2)</sup><sup>(3)</sup> | CLNY Trust 2019-IKPR A, 5.163%, (TSFR1M + 1.493%), 11/15/2038 | 1575418 | 0.0 |
| 3986032 <sup>(3)</sup><sup>(6)</sup> | COMM Mortgage Trust 2016-CR28 XA, 0.440%, 02/10/2049 | 1589 | 0.0 |
| 31486013 <sup>(3)</sup><sup>(6)</sup> | COMM Mortgage Trust 2017-COR2 XA, 1.148%, 09/10/2050 | 278782 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 3013114 | 0.0 |
| 3034000 <sup>(2)</sup><sup>(3)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 3086431 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | COMM Mortgage Trust 2025-SBX A, 5.257%, 08/10/2041 | 4996160 | 0.1 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | CONE Trust 2024- DFW1 A, 5.314%, (TSFR1M + 1.642%), 08/15/2041 | 1491351 | 0.0 |
| 3000000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2018- C14 AS, 4.722%, 11/15/2051 | 2934655 | 0.0 |
| 3746000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2020- C19 B, 3.476%, 03/15/2053 | 3082737 | 0.0 |
| 4500000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2020- C19 C, 3.612%, 03/15/2053 | 2827816 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | CSTL Commercial Mortgage Trust 2025- GATE2 C, 5.144%, 11/10/2042 | $2456958 | 0.0 |
| 4000000 <sup>(2)</sup> | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 4080695 | 0.0 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | DC Trust 2024-HLTN A, 5.727%, 04/13/2040 | 7033782 | 0.1 |
| 5500000 <sup>(2)</sup><sup>(3)</sup> | DK Trust 2024-SPBX C, 5.623%, (TSFR1M + 1.950%), 03/15/2034 | 5507752 | 0.1 |
| 2750000 <sup>(2)</sup><sup>(3)</sup> | DK Trust 2024-SPBX D, 6.423%, (TSFR1M + 2.750%), 03/15/2034 | 2755572 | 0.0 |
| 8000000 <sup>(2)</sup><sup>(3)</sup> | DK Trust 2025-LXP A, 5.271%, (TSFR1M + 1.593%), 08/15/2037 | 8012370 | 0.1 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | DTP Commercial Mortgage Trust 2023- STE2 A, 5.454%, 01/15/2041 | 2024802 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | Extended Stay America Trust 2025-ESH D, 6.273%, (TSFR1M + 2.600%), 10/15/2042 | 2509320 | 0.0 |
| 4500000 <sup>(2)</sup><sup>(3)</sup> | Extended Stay America Trust 2025-ESH E, 7.023%, (TSFR1M + 3.350%), 10/15/2042 | 4519594 | 0.0 |
| 3269241 <sup>(2)</sup><sup>(3)</sup> | Extended Stay America Trust 2026-ESH2 D, 5.923%, (TSFR1M + 2.250%), 02/15/2043 | 3283896 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU C, 5.823%, (TSFR1M + 2.150%), 12/15/2039 | 2005986 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU D, 6.273%, (TSFR1M + 2.600%), 12/15/2039 | 2511360 | 0.0 |
| 9791396 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | Freddie Mac Multifamily ML Certificates 2021- ML11 XUS, 0.666%, 03/25/2038 | 448042 | 0.0 |
| 14787490 | Freddie Mac Multifamily ML Certificates US XUS, 1.846%, 07/25/2037 | 1682606 | 0.0 |
| 98899172 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 0.917%, 09/25/2030 | 3361800 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 40226506 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K123 X1, 0.761%, 12/25/2030 | $1172333 | 0.0 |
| 70042562 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K151 X1, 0.344%, 04/25/2030 | 843446 | 0.0 |
| 13092353 <sup>(3)</sup><sup>(6)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.503%, 05/25/2035 | 1315395 | 0.0 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | FS 2026-ORL A, 5.023%, (TSFR1M + 1.350%), 02/15/2041 | 1499461 | 0.0 |
| 9000000 <sup>(2)</sup><sup>(3)</sup> | FS Rialto Issuer LLC 2024-FL9 A, 5.307%, (TSFR1M + 1.631%), 10/19/2039 | 9017095 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.062%, (TSFR1M + 1.385%), 08/19/2042 | 5000129 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | FS Rialto Issuer LLC 2026-FL11 A, 5.115%, (TSFR1M + 1.450%), 01/19/2044 | 5005068 | 0.1 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | FS Rialto Issuer LLC 2026-FL11 B, 5.565%, (TSFR1M + 1.900%), 01/19/2044 | 2503259 | 0.0 |
| 9029000 <sup>(2)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.938%, 11/27/2050 | 8416019 | 0.1 |
| 6372000 <sup>(2)</sup><sup>(7)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 5361388 | 0.1 |
| 819766 <sup>(2)</sup><sup>(7)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 805130 | 0.0 |
| 3900000 <sup>(2)</sup><sup>(3)</sup> | Great Wolf Trust 2024- WOLF D, 6.563%, (TSFR1M + 2.890%), 03/15/2039 | 3915870 | 0.0 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | Greystone CRE Notes LLC 2025-FL4 A, 5.154%, (TSFR1M + 1.481%), 01/15/2043 | 7002857 | 0.1 |
| 48895931 <sup>(3)</sup><sup>(6)</sup> | GS Mortgage Securities Trust 2016-GS4 XA, 0.499%, 11/10/2049 | 96007 | 0.0 |
| 500000 <sup>(3)</sup> | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | 464921 | 0.0 |
| 3261000 | GS Mortgage Securities Trust 2019-GC39 B, 3.970%, 05/10/2052 | 2956858 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1015000 | GS Mortgage Securities Trust 2019-GC42 B, 3.363%, 09/10/2052 | $903767 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | GS REFT Issuer Ltd. 2026-FL1 A, 5.170%, (TSFR1M + 1.500%), 04/19/2043 | 1001872 | 0.0 |
| 5200000 <sup>(2)</sup><sup>(3)</sup> | GS REFT Issuer Ltd. 2026-FL1 AS, 5.320%, (TSFR1M + 1.650%), 04/19/2043 | 5209095 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | GSAT Trust 2025-BMF C, 5.823%, (TSFR1M + 2.150%), 07/15/2040 | 4977244 | 0.1 |
| 1800000 <sup>(2)</sup><sup>(3)</sup> | GSJP Trust 2025- BEDS A, 5.173%, (TSFR1M + 1.500%), 12/15/2042 | 1791434 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | GSMS Trustair 2024- FAIR C, 6.431%, 07/15/2029 | 3060689 | 0.0 |
| 4250000 <sup>(2)</sup><sup>(3)</sup> | GWT 2024-WLF2 A, 5.364%, (TSFR1M + 1.691%), 05/15/2041 | 4255122 | 0.0 |
| 2600000 <sup>(2)</sup><sup>(3)</sup> | Hawaii Hotel Trust 2025-MAUI C, 5.714%, (TSFR1M + 2.042%), 03/15/2042 | 2603050 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | HILT Commercial Mortgage Trust 2024- ORL A, 5.214%, (TSFR1M + 1.541%), 05/15/2037 | 3001478 | 0.0 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | HLTN Commercial Mortgage Trust 2024- DPLO A, 5.314%, (TSFR1M + 1.642%), 06/15/2041 | 7008409 | 0.1 |
| 6000000 <sup>(2)</sup><sup>(3)</sup> | HTL Commercial Mortgage Trust 2024-T53 A, 5.876%, 05/10/2039 | 6048703 | 0.1 |
| 2400000 <sup>(2)</sup><sup>(3)</sup> | HYT Commercial Mortgage Trust 2024- RGCY A, 5.514%, (TSFR1M + 1.841%), 09/15/2041 | 2403450 | 0.0 |
| 2600000 <sup>(2)</sup><sup>(3)</sup> | HYT Commercial Mortgage Trust 2024- RGCY B, 6.013%, (TSFR1M + 2.341%), 09/15/2041 | 2604658 | 0.0 |
| 4000000 <sup>(2)</sup> | ICNQ Mortgage Trust 2024-MF B, 6.074%, 12/10/2034 | 4101135 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | ILPT Commercial Mortgage Trust 2025- LPF2 C, 5.829%, 07/13/2042 | 2506381 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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>(2)</sup><sup>(3)</sup> | INTOWN Mortgage Trust 2025-STAY D, 6.523%, (TSFR1M + 2.850%), 03/15/2042 | $7499639 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | IP Mortgage Trust 2025-IP C, 5.831%, 06/10/2042 | 5064563 | 0.1 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024- OMNI A, 5.797%, 10/05/2039 | 3028991 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024- OMNI C, 5.797%, 10/05/2039 | 1994965 | 0.0 |
| 3750000 <sup>(2)</sup><sup>(3)</sup> | JW Trust 2024-BERY A, 5.266%, (TSFR1M + 1.593%), 11/15/2039 | 3754894 | 0.0 |
| 1730000 <sup>(2)</sup> | Key Commercial Mortgage Securities Trust 2018-S1 AS, 4.842%, 10/15/2053 | 1689182 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | KIND Commercial Mortgage Trust 2024-1 A, 5.563%, (TSFR1M + 1.890%), 08/15/2041 | 5004157 | 0.1 |
| 7194688 <sup>(2)</sup><sup>(3)</sup> | KRE Commercial Mortgage Trust 2025- AIP4 C, 5.523%, (TSFR1M + 1.850%), 03/15/2042 | 7175653 | 0.1 |
| 4456048 <sup>(2)</sup><sup>(3)</sup> | KSL Commercial Mortgage Trust 2024- HT2 B, 5.714%, (TSFR1M + 2.042%), 12/15/2039 | 4455396 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.063%, (TSFR1M + 1.385%), 08/17/2042 | 5000334 | 0.1 |
| 30900876 <sup>(2)</sup><sup>(3)</sup><sup>(6)</sup> | LSTAR Commercial Mortgage Trust 2017-5 X, 0.869%, 03/10/2050 | 89359 | 0.0 |
| 7500000 <sup>(2)</sup><sup>(3)</sup> | LSTR Trust 2026-HTL6 A, 5.173%, (TSFR1M + 1.500%), 12/15/2040 | 7481879 | 0.1 |
| 3222769 <sup>(2)</sup><sup>(3)</sup> | MCR Mortgage Trust 2024-HTL D, 7.578%, (TSFR1M + 3.905%), 02/15/2037 | 3218832 | 0.0 |
| 5000000 <sup>(2)</sup> | MCR Mortgage Trust 2024-TWA A, 5.924%, 06/12/2039 | 5037756 | 0.1 |
| 7825000 <sup>(2)</sup><sup>(3)</sup> | MED Commercial Mortgage Trust 2024- MOB A, 5.264%, (TSFR1M + 1.592%), 05/15/2041 | 7772036 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1210061 <sup>(2)</sup><sup>(3)</sup> | MF1 LLC 2022-FL9 A, 5.827%, (TSFR1M + 2.150%), 06/19/2037 | $1211249 | 0.0 |
| 8000000 <sup>(2)</sup><sup>(3)</sup> | MF1 LLC 2025-FL17 A, 5.000%, (TSFR1M + 1.320%), 02/18/2040 | 8005316 | 0.1 |
| 4400000 <sup>(2)</sup><sup>(3)</sup> | MF1 LLC 2025-FL20 A, 5.130%, (TSFR1M + 1.450%), 02/18/2043 | 4408868 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | MF1 LLC 2026-FL21 A, 5.030%, (TSFR1M + 1.350%), 02/18/2041 | 4994709 | 0.1 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | MHP Commercial Mortgage Trust 2025- MHIL2 D, 6.323%, (TSFR1M + 2.650%), 09/15/2040 | 1494318 | 0.0 |
| 36376439 <sup>(3)</sup><sup>(6)</sup> | Morgan Stanley Capital I 2017-HR2 XA, 0.846%, 12/15/2050 | 481591 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | MTN Commercial Mortgage Trust 2022- LPFL A, 5.077%, (TSFR1M + 1.397%), 03/15/2039 | 4998564 | 0.1 |
| 6600000 <sup>(2)</sup><sup>(3)</sup> | NYC Commercial Mortgage Trust 2025-28L B, 5.007%, 11/05/2038 | 6599290 | 0.1 |
| 3500000 <sup>(2)</sup><sup>(3)</sup> | NYC Commercial Mortgage Trust 2025- 3BP A, 4.885%, (TSFR1M + 1.213%), 02/15/2042 | 3479555 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | NYC Commercial Mortgage Trust 2025- 3BP C, 5.565%, (TSFR1M + 1.892%), 02/15/2042 | 1995270 | 0.0 |
| 4000000 <sup>(2)</sup><sup>(3)</sup> | NYC Trust 2024-3ELV A, 5.663%, (TSFR1M + 1.991%), 08/15/2029 | 4012240 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | ONNI Commercial Mortgage Trust 2024- APT A, 5.196%, 07/15/2039 | 2532750 | 0.0 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | ORL Trust 2024-GLKS C, 5.964%, (TSFR1M + 2.291%), 12/15/2039 | 10030934 | 0.1 |
| 2177858 <sup>(2)</sup><sup>(3)</sup> | PFP Ltd. 2024-11 A, 5.501%, (TSFR1M + 1.832%), 09/17/2039 | 2182611 | 0.0 |
| 8000000 <sup>(2)</sup><sup>(3)</sup> | PFP Ltd. 2026-13 A, 5.180%, (TSFR1M + 1.500%), 08/18/2043 | 8011255 | 0.1 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | PNW Trust 2026-ARTE A, 5.386%, (TSFR1M + 1.711%), 04/15/2029 | 2997134 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | PNW Trust 2026-ARTE B, 5.886%, (TSFR1M + 2.211%), 04/15/2029 | 2997985 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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>(2)</sup><sup>(3)</sup> | PRM Trust 2025-PRM6 C, 5.008%, 07/05/2033 | $1987120 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | PRM Trust 2025-PRM6 D, 5.677%, 07/05/2033 | 1989549 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | PRM5 Trust 2025- PRM5 C, 4.667%, 03/10/2033 | 2970169 | 0.0 |
| 8500000 <sup>(2)</sup><sup>(3)</sup> | PRM7 Trust 2025- PRM7 D, 5.661%, 11/10/2042 | 8370579 | 0.1 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | RFM Reremic Trust 2022-FRR1 AB60, 2.316%, 11/08/2049 | 4894051 | 0.0 |
| 19500000 <sup>(2)</sup><sup>(3)</sup> | RFM Reremic Trust 2022-FRR1 AB64, 2.168%, 03/01/2050 | 18752785 | 0.2 |
| 3590000 <sup>(2)</sup><sup>(7)</sup> | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 3425891 | 0.0 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | SDAL Trust 2025-DAL A, 6.114%, (TSFR1M + 2.441%), 04/15/2042 | 1004312 | 0.0 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | SDR Commercial Mortgage Trust 2024- DSNY B, 5.414%, (TSFR1M + 1.741%), 05/15/2039 | 2499183 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | SHR Trust 2024-LXRY A, 5.623%, (TSFR1M + 1.950%), 10/15/2041 | 5001655 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | SMRT 2022-MINI D, 5.623%, (TSFR1M + 1.950%), 01/15/2039 | 9973190 | 0.1 |
| 10000000 <sup>(2)</sup><sup>(3)</sup> | SPGN Trust 2026- TFLM A, 4.973%, (TSFR1M + 1.300%), 02/15/2041 | 9958908 | 0.1 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | STWD LLC 2025-FL4 B, 5.627%, (TSFR1M + 1.950%), 11/19/2042 | 1500372 | 0.0 |
| 5000000 <sup>(2)</sup><sup>(3)</sup> | SWCH Commercial Mortgage Trust 2025- DATA B, 5.515%, (TSFR1M + 1.842%), 02/15/2042 | 4939171 | 0.1 |
| 5500000 <sup>(2)</sup><sup>(3)</sup> | SWCH Commercial Mortgage Trust 2025- DATA C, 5.765%, (TSFR1M + 2.092%), 02/15/2042 | 5425708 | 0.1 |
| 4168239 <sup>(2)</sup> | THPT Mortgage Trust 2023-THL A, 6.996%, 12/10/2034 | 4199338 | 0.0 |
| 4300000 <sup>(2)</sup><sup>(3)</sup> | TRTX Issuer Ltd. 2025-FL6 A, 5.216%, (TSFR1M + 1.537%), 09/18/2042 | 4308897 | 0.0 |
| 7000000 <sup>(2)</sup><sup>(3)</sup> | VTR Commercial Mortgage Trust 2025- STEM A, 4.698%, 10/13/2039 | 6943069 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 4750000 <sup>(2)</sup><sup>(3)</sup> | WCORE Commercial Mortgage Trust 2024- CORE A, 5.165%, (TSFR1M + 1.492%), 11/15/2041 | $4757263 | 0.0 |
| 3000000 <sup>(2)</sup><sup>(3)</sup> | WCORE Commercial Mortgage Trust 2024- CORE B, 5.514%, (TSFR1M + 1.842%), 11/15/2041 | 3005414 | 0.0 |
| 4000000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | 3842474 | 0.0 |
| 1800000 | Wells Fargo Commercial Mortgage Trust 2017-RC1 C, 4.591%, 01/15/2060 | 1747182 | 0.0 |
| 4000000 | Wells Fargo Commercial Mortgage Trust 2019-C54 C, 3.810%, 12/15/2052 | 3482297 | 0.0 |
| 5000000 | Wells Fargo Commercial Mortgage Trust 2021-C59 C, 3.284%, 04/15/2054 | 4132675 | 0.0 |
| 1250000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-5C5 C, 6.014%, 07/15/2058 | 1254290 | 0.0 |
| 6000000 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP A, 5.023%, (TSFR1M + 1.350%), 08/15/2042 | 6000569 | 0.1 |
| 3500000 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP C, 5.673%, (TSFR1M + 2.000%), 08/15/2042 | 3504577 | 0.0 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-DWHP B, 6.513%, (TSFR1M + 2.841%), 04/15/2038 | 2008007 | 0.0 |
| 3090000 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT B, 5.126%, 03/15/2038 | 3096893 | 0.0 |
| 2460000 <sup>(2)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT C, 5.445%, 03/15/2038 | 2465718 | 0.0 |
| 2732294 <sup>(2)</sup><sup>(3)</sup> | WFLD Mortgage Trust 2014-MONT A, 3.755%, 08/10/2031 | 2677910 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 7000000 <sup>(2)</sup> | WSTN Trust 2023-MAUI A, 6.297%, 07/05/2037 | $| 7075798 | 0.1 |
|  | Total Commercial Mortgage-Backed Securities<br> (Cost $857,275,622) |  | **864260337** | **7.7** |
| **SOVEREIGN BONDS: 1.0%** | **SOVEREIGN BONDS: 1.0%** | **SOVEREIGN BONDS: 1.0%** | **SOVEREIGN BONDS: 1.0%** | **SOVEREIGN BONDS: 1.0%** |
| 4825000 | Brazilian Government International Bond, 6.125%, 03/15/2034 |  | 4822756 | 0.1 |
| 6075000 | Brazilian Government International Bond, 6.625%, 03/15/2035 |  | 6228394 | 0.1 |
| 3125000 | Brazilian Government International Bond, 7.125%, 05/13/2054 |  | 3070937 | 0 |
| 1000000 | Colombia Government International Bond, 3.125%, 04/15/2031 |  | 856250 | 0 |
| 1737000 | Colombia Government International Bond, 7.750%, 11/07/2036 |  | 1781337 | 0 |
| 3764000 <sup>(1)</sup> | Colombia Government International Bond, 8.000%, 11/14/2035 |  | 3950412 | 0 |
| 3000000 | Colombia Government International Bond, 8.375%, 11/07/2054 |  | 3104250 | 0 |
| 8150000 <sup>(2)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 |  | 8178525 | 0.1 |
| 3927000 | Mexico Government International Bond, 5.850%, 07/02/2032 |  | 3976186 | 0 |
| 3199000 | Mexico Government International Bond, 6.625%, 01/29/2038 |  | 3259861 | 0 |
| 5523000 <sup>(1)</sup> | Mexico Government International Bond, 6.875%, 05/13/2037 |  | 5790865 | 0.1 |
| 1940000 | Mexico Government International Bond, 7.375%, 05/13/2055 |  | 2041443 | 0 |
| <sup>PEN</sup>212500000 <sup>(2)</sup> | Peruvian Government International Bond, 6.900%, 08/12/2037 |  | 60683317 | 0.6 |
| 2475000 <sup>(2)</sup> | Republic of South Africa Government International Bond, 7.950%, 11/19/2054 |  | 2453344 | 0 |
| 2800000 <sup>(1)</sup> | Republic of South Africa Government International Bond 10Y, 5.875%, 04/20/2032 |  | 2803500 | 0 |
|  | Total Sovereign Bonds <br> (Cost $114,983,275) |  | **113001377** | **1.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: 0.6%** | **BANK LOANS: 0.6%** | **BANK LOANS: 0.6%** | **BANK LOANS: 0.6%** |
|  | **Consumer, Cyclical: 0.2%** |  |  |
| 2300000 | AI Aqua Merger Sub Inc FKA Osmosis Buyer Limited, 2026 Term Loan B, 6.411%, (TSFR3M+2.750%), 07/31/2028 | $2295166 | 0.0 |
| 2300000 | EG America LLC, Term Loan B, 6.918%, (TSFR1M+2.250%), 02/10/2031 | 2305750 | 0.1 |
| 2375000 <sup>(8)</sup> | Flynn Restaurant Group LP, Add-On Tl, 01/28/2032 | 2336406 | 0.1 |
| 2294192 | Great Outdoors Group LLC, Term B-3 Loan, 6.918%, (TSFR1M+2.250%), 01/23/2032 | 2292962 | 0.0 |
| 2294177 | LC Ahab US Bidco LLC, Initial Term Loan, 6.168%, (TSFR1M+2.250%), 05/01/2031 | 2275537 | 0.0 |
| 2297260 | PCI Gaming Authority, 2024 Term Loan B, 5.668%, (TSFR1M+2.250%), 07/18/2031 | 2299311 | 0.0 |
| 1583555 | Peer Holding III BV, Tranche B5B, 6.200%, 07/01/2031 | 1584874 | 0.0 |
| 750000 <sup>(8)</sup> | Peer Holding III BV, Tranche B8, 09/29/2032 | 744492 | 0.0 |
| 2275000 | Windsor Holdings III LLC, 2025 Refi Term Loan B, 6.418%, (TSFR1M+2.250%), 08/01/2030 | 2251301 | 0.0 |
|  |  | **18385799** | **0.2** |
|  | **Consumer, Non-cyclical: 0.2%** |  |  |
| 2275000 | AlixPartners LLP, 2025 Refinanced Dollar Term Loan, 5.668%, (TSFR1M+2.250%), 08/12/2032 | 2257048 | 0.0 |
| 2275000 | Bausch & Lomb Corporation, Tranche B, 7.418%, 01/15/2031 | 2282821 | 0.0 |
| 3000000 | Camelot US Acquisition I Co, Term Loan B-1, 6.418%, (TSFR1M+2.250%), 01/31/2031 | 2610000 | 0.1 |
| 2300000 | Electron Bidco Inc., 2026 Term Loan, 6.168%, (TSFR1M+2.250%), 02/06/2033 | 2298742 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 2119688 | Fugue Finance B.V., 15th Amd USD Term, 5.921%, (TSFR3M+2.250%), 01/09/2032 | $| 2098491 | 0.0 |
| 2300000 | Garda World Security Corporation, Fifteenth Additional Term Loan, 6.422%, (TSFR3M+2.750%), 02/01/2029 |  | 2288500 | 0.0 |
| 2300000 | Hopper Merger Sub, Inc., Tranche B, 3.000%, 01/14/2033 |  | 2273994 | 0.0 |
| 1475000 <sup>(8)</sup> | Mister Car Wash Holdings Inc., Incremental First Lien Term Loan B, 03/27/2031 |  | 1462831 | 0.0 |
| 825000 <sup>(8)</sup> | Mister Car Wash Holdings Inc., Incremental First Lien Term Loan B, 03/27/2031 |  | 818194 | 0.0 |
| 2275000 | Primo Brands (BlueTriton Brands/ Nestl Waters NA) Term Loan B 275-15, Tranche B, 6.402%, 03/31/2031 |  | 2280972 | 0.0 |
|  |  |  | **20671593** | **0.2** |
|  | **Energy: 0.0%** | **Energy: 0.0%** | **Energy: 0.0%** | **Energy: 0.0%** |
| 2294686 | CPPIB OVM Member U.S. LLC, Initial Term Loans, 5.950%, (TSFR3M+2.250%), 08/20/2031 |  | 2296598 | 0.0 |
| 2150000 <sup>(8)</sup> | Pelican Pipeline LLC, Initial Term Loan, 03/23/2033 |  | 2154704 | 0.0 |
| 125000 <sup>(8)</sup> | Pelican Pipeline LLC, Initial Term Loan, 03/23/2033 |  | 125274 | 0.0 |
|  |  |  | **4576576** | **0.0** |
|  | **Financial: 0.1%** | **Financial: 0.1%** | **Financial: 0.1%** | **Financial: 0.1%** |
| 1106947 | CPI Holdco B, LLC, 2025 Fourth Amendment Incremental Term Loan, 5.668%, (TSFR1M+2.250%), 05/17/2031 |  | 1100644 | 0.0 |
| 2984962 | Focus Financial Partners LLC, Tranche B Incremental Term Loan, 6.168%, (TSFR1M+2.250%), 09/15/2031 |  | 2891216 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 2265000 <sup>(8)</sup> | Jupiter Borrower, Inc., Term Loan B, 03/25/2033 | $2265000 | 0.0 |
|  |  | **6256860** | **0.1** |
|  | **Industrial: 0.1%** |  |  |
| 2007353 | Azuria Water Solutions, Inc., 6.668%, 04/25/2033 | 1992298 | 0.0 |
| 267647 | Azuria Water Solutions, Inc., Tranche B-DD, 6.668%, 04/25/2033 | 265361 | 0.0 |
| 2294975 | Chariot Buyer LLC, 2025 New Term Loan B, 6.418%, (TSFR1M+2.250%), 09/08/2032 | 2275431 | 0.0 |
| 2300000 | Graham Packaging Company Inc., Initial Term Loan, 5.918%, (TSFR1M+2.250%), 01/26/2033 | 2278437 | 0.0 |
| 2300000 | Hillenbrand Inc., Term Loan B, 7.168%, (TSFR1M+2.250%), 02/10/2033 | 2271250 | 0.0 |
| 2294250 | Pro Mach, Amendment No 6 Term Loan, 6.418%, (TSFR1M+2.250%), 10/18/2032 | 2291813 | 0.0 |
| 2300000 <sup>(8)</sup> | TK Elevator Midco Gmbh, Term Loan B, 04/30/2030 | 2307188 | 0.1 |
| 2150000 | TransDigm Term Loan N 250-07, Tranche N, 6.168%, 02/10/2033 | 2153023 | 0.0 |
|  |  | **15834801** | **0.1** |
|  | **Technology: 0.0%** |  |  |
| 2093417 | Amentum Holdings LLC, Initial Term Loan, 5.668%, (TSFR1M+2.250%), 09/29/2031 | 2095052 | 0.0 |
|  | **Utilities: 0.0%** |  |  |
| 2300000 | Discovery Energy Holding Corporation, Term Loan, 6.700%, (TSFR3M+3.000%), 05/01/2031 | 2300000 | 0.0 |
|  | Total Bank Loans <br> (Cost $70,709,871) | **70120681** | **0.6** |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **EXCHANGE-TRADED FUNDS: 3.0%** | **EXCHANGE-TRADED FUNDS: 3.0%** | **EXCHANGE-TRADED FUNDS: 3.0%** | **EXCHANGE-TRADED FUNDS: 3.0%** |
| 4755404 <sup>(9)</sup> | Voya Multi-Sector Income ETF | $234536525 | 2.1 |
| 1995000 <sup>(9)</sup> | Voya Ultra Short Income ETF | 99849750 | 0.9 |
|  |  | **334386275** | **3.0** |
|  | Total Exchange-Traded Funds <br> (Cost $332,472,056) | **334386275** | **3.0** |
| **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.0%** |
|  | Total Purchased Options <br> (Cost $571,980) | 2374 | 0.0 |
|  | Total Long-Term Investments <br> (Cost $10,264,752,178) | **10075713773** | **90.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 25.3%** | **SHORT-TERM INVESTMENTS: 25.3%** | **SHORT-TERM INVESTMENTS: 25.3%** | **SHORT-TERM INVESTMENTS: 25.3%** |
|  | **Commercial Paper: 18.4%** | **Commercial Paper: 18.4%** | **Commercial Paper: 18.4%** |
| 48000000 | Agilent Technologies, Inc., 4.060%, 04/08/2026 | 47957323 | 0.4 |
| 25000000 | American Electric Power Co., Inc., 4.040%, 04/10/2026 | 24972330 | 0.2 |
| 2230000 | American Honda Finance Corp., 4.040%, 04/16/2026 | 2226058 | 0.0 |
| 18540000 | American Honda Finance Corp., 4.220%, 06/24/2026 | 18359574 | 0.2 |
| 4850000 <sup>(11)</sup> | ANZ Banking Group Ltd., 3.820%, 04/20/2026 | 4850284 | 0.0 |
| 4850000 <sup>(11)</sup> | AstraZeneca PLC, 3.710%, 06/25/2026 | 4803949 | 0.0 |
| 75000000 | AutoZone, Inc., 3.960%, 04/01/2026 | 74991870 | 0.7 |
| 29000000 | BASF SE, 4.200%, 06/29/2026 | 28702750 | 0.3 |
| 65900000 | BASF SE, 4.200%, 06/30/2026 | 65216966 | 0.6 |
| 40000000 | BASF SE, 4.230%, 07/30/2026 | 39447424 | 0.4 |
| 2350000 <sup>(11)</sup> | BNP Paribas SA, 3.970%, 09/03/2026 | 2310538 | 0.0 |
| 65000000 <sup>(2)</sup> | Cargill, Inc., 3.710%, 04/01/2026 | 64993389 | 0.6 |
| 15000000 | Caterpillar Financial Services Corp., 3.710%, 04/01/2026 | 14998474 | 0.2 |
| 3500000 <sup>(11)</sup> | Chevron Corp., 3.770%, 05/15/2026 | 3483616 | 0.0 |
| 4300000 <sup>(11)</sup> | Commonwealth Bank of Australia, 3.800%, 08/19/2026 | 4299856 | 0.0 |
| 7500000 | Concord Minutemen, 3.920%, 04/29/2026 | 7476699 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 21000000 | Concord Minutemen Capital Co. LLC, 3.950%, 05/07/2026 | $20916321 | 0.2 |
| 53951000 | Concord Minutemen Capital Co. LLC, 4.040%, 06/24/2026 | 53448047 | 0.5 |
| 38018000 | Concord Minutemen Capital Co. LLC, 4.040%, 06/25/2026 | 37659198 | 0.4 |
| 1100000 | Constellation Energy Generation LLC, 4.420%, 04/01/2026 | 1099867 | 0.0 |
| 10000000 | Constellation Energy Generation LLC, 4.580%, 05/04/2026 | 9957557 | 0.1 |
| 16750000 | Constellation Energy Generation LLC, 4.580%, 05/05/2026 | 16676801 | 0.2 |
| 78000000 | Constellation Energy Generation LLC, 4.600%, 05/22/2026 | 77492173 | 0.7 |
| 3000000 | Constellation Energy Generation LLC, 4.630%, 06/18/2026 | 2970226 | 0.0 |
| 9675000 | Dominion Energy, Inc., 4.080%, 04/20/2026 | 9653434 | 0.1 |
| 12500000 | Duke Energy Corp., 3.920%, 04/02/2026 | 12497315 | 0.1 |
| 44500000 | Duke Energy Corp., 4.010%, 04/21/2026 | 44397543 | 0.4 |
| 28050000 | Duke Energy Corp., 4.020%, 04/22/2026 | 27982259 | 0.3 |
| 9650000 | Duke Energy Corp., 4.030%, 04/24/2026 | 9624515 | 0.1 |
| 5000000 <sup>(11)</sup> | DZ Bank AG, 3.920%, 08/10/2026 | 4928757 | 0.0 |
| 45000000 <sup>(2)</sup> | Enbridge U S, Inc., 4.040%, 04/10/2026 | 44950194 | 0.4 |
| 13000000 | Enbridge U S, Inc., 4.070%, 04/14/2026 | 12979760 | 0.1 |
| 45400000 | Enbridge U S, Inc., 4.100%, 04/21/2026 | 45293088 | 0.4 |
| 15000000 | Enbridge U S, Inc., 4.180%, 05/26/2026 | 14904396 | 0.1 |
| 27950000 | Enbridge U S, Inc., 4.180%, 05/27/2026 | 27768646 | 0.3 |
| 2000000 | Entergy Corp., 4.100%, 04/21/2026 | 1995290 | 0.0 |
| 14525000 | Entergy Corp., 4.110%, 04/23/2026 | 14487449 | 0.1 |
| 33000000 | Entergy Corp., 4.150%, 04/29/2026 | 32891668 | 0.3 |
| 46000000 | Entergy Corp., 4.180%, 05/21/2026 | 45733209 | 0.4 |
| 6500000 | Entergy Corp., 4.190%, 06/08/2026 | 6448883 | 0.1 |
| 45000000 | Equifax, Inc., 4.040%, 04/10/2026 | 44950194 | 0.4 |
| 13543000 | Equifax, Inc., 4.100%, 04/20/2026 | 13512662 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 21000000 | Equifax, Inc., 4.150%, 05/01/2026 | $20926208 | 0.2 |
| 3000000 | Equifax, Inc., 4.160%, 05/04/2026 | 2988432 | 0.0 |
| 31000000 | General Mills, Inc., 3.920%, 04/06/2026 | 30980021 | 0.3 |
| 25000000 | General Mills, Inc., 3.940%, 04/10/2026 | 24973025 | 0.2 |
| 5100000 <sup>(11)</sup> | HSBC Bank PLC, 3.880%, 06/17/2026 | 5102884 | 0.0 |
| 3000000 | HSBC USA, Inc., 4.090%, 08/20/2026 | 2953022 | 0.0 |
| 3110000 | HSBC USA, Inc., 4.160%, 11/09/2026 | 3032949 | 0.0 |
| 650000 <sup>(11)</sup> | Lloyds Bank PLC, 3.780%, 08/24/2026 | 639707 | 0.0 |
| 4050000 <sup>(11)</sup> | Lloyds Bank PLC, 3.850%, 07/06/2026 | 4052320 | 0.0 |
| 5000000 <sup>(11)</sup> | Macquarie Bank Ltd., 3.800%, 04/07/2026 | 5000117 | 0.0 |
| 48700000 | McCormick & Co., Inc., 3.930%, 04/01/2026 | 48694760 | 0.5 |
| 28400000 | McCormick & Co., Inc., 4.100%, 04/21/2026 | 28333121 | 0.3 |
| 34250000 | McCormick & Co., Inc., 4.150%, 04/30/2026 | 34133550 | 0.3 |
| 75000000 | Mondelez International, Inc., 4.050%, 04/22/2026 | 74817503 | 0.7 |
| 17705000 | Mondelez International, Inc., 4.010%, 04/02/2026 | 17701108 | 0.2 |
| 8900000 | Old Line Funding LLC, 4.000%, 06/24/2026 | 8817836 | 0.1 |
| 25000000 | Old Line Funding LLC, 4.070%, 09/28/2026 | 24505980 | 0.2 |
| 3200000 <sup>(11)</sup> | Oversea-Chinese Banking Corp Ltd., 3.830%, 09/03/2026 | 3202261 | 0.0 |
| 2850000 | Parker-Hannifin Corp., 4.060%, 04/08/2026 | 2847466 | 0.0 |
| 20000000 | Parker-Hannifin Corp., 4.110%, 05/07/2026 | 19916936 | 0.2 |
| 45000000 | Parker-Hannifin Corp., 4.140%, 05/18/2026 | 44756280 | 0.4 |
| 25000000 | Parker-Hannifin Corp., 4.140%, 05/19/2026 | 24861812 | 0.2 |
| 45000000 | PPL Electric Utilities Corp., 4.030%, 04/07/2026 | 44965264 | 0.4 |
| 5000000 <sup>(11)</sup> | Sanofi SA, 3.800%, 06/11/2026 | 4962420 | 0.0 |
| 2575000 | Simon Property Group L.P., 4.160%, 05/11/2026 | 2563013 | 0.0 |
| 5200000 <sup>(11)</sup> | Skandinaviska Enskilda Banken AB, 3.890%, 09/16/2026 | 5205418 | 0.0 |
| 8000000 | Southern Power Co., 4.010%, 04/02/2026 | 7998242 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** | **Commercial Paper (continued)** |
| 4950000 <sup>(11)</sup> | Sumitomo Mitsui Banking Corp., 3.980%, 09/23/2026 | $| 4950683 | 0.0 |
| 75000000 | Sumitomo Mitsui Trust Bank Ltd., 4.030%, 07/27/2026 |  | 74036332 | 0.7 |
| 2350000 <sup>(11)</sup> | Sumitomo Mitsui Trust Bank Ltd., 3.800%, 05/12/2026 |  | 2339558 | 0.0 |
| 5000000 <sup>(11)</sup> | Swedbank AB, 3.900%, 09/16/2026 |  | 5005751 | 0.0 |
| 40500000 | The Sherwin-Williams Co., 3.880%, 04/14/2026 |  | 40439862 | 0.4 |
| 26075000 | The Sherwin-Williams Co., 3.900%, 04/20/2026 |  | 26019463 | 0.2 |
| 18000000 | The Sherwin-Williams Co., 3.900%, 04/22/2026 |  | 17957794 | 0.2 |
| 50000000 | The Sherwin-Williams Co., 3.900%, 04/29/2026 |  | 49845350 | 0.5 |
| 20000000 | The Sherwin-Williams Co., 3.910%, 05/04/2026 |  | 19927366 | 0.2 |
| 6000000 | The Sherwin-Williams Co., 3.930%, 05/11/2026 |  | 5973660 | 0.1 |
| 5050000 <sup>(11)</sup> | United Overseas Bank Ltd., 3.810%, 08/03/2026 |  | 5052856 | 0.0 |
| 90000000 | Virginia Electric and Power Co., 3.880%, 04/09/2026 |  | 89913933 | 0.8 |
| 90000000 | Virginia Electric and Power Co., 3.930%, 04/24/2026 |  | 89768142 | 0.8 |
| 82000000 | Volkswagen Group of America Finance LLC, 4.260%, 05/11/2026 |  | 81609508 | 0.7 |
|  | Total Commercial Paper <br> (Cost $2,056,494,177) |  | **2056082465** | **18.4** |
|  | **Certificates of Deposits: 0.9%** | **Certificates of Deposits: 0.9%** | **Certificates of Deposits: 0.9%** | **Certificates of Deposits: 0.9%** |
| 4850000 <sup>(11)</sup> | Bank of America N.A., 3.830%, 09/02/2026 |  | 4850000 | 0.0 |
| 5000000 <sup>(11)</sup> | Bank of Nova Scotia, 3.910%, 09/16/2026 |  | 5005981 | 0.1 |
| 1850000 <sup>(3)</sup><sup>(11)</sup> | Barclays Bank PLC, 3.880%, (SOFRRATE + 0.250%), 04/22/2026 |  | 1850154 | 0.0 |
| 3100000 <sup>(11)</sup> | Barclays Bank PLC, 3.980%, 09/28/2026 |  | 3105039 | 0.0 |
| 5000000 <sup>(11)</sup> | Canadian Imperial Bank of Commerce, 3.920%, 09/18/2026 |  | 5001319 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Certificates of Deposits (continued)** | **Certificates of Deposits (continued)** | **Certificates of Deposits (continued)** | **Certificates of Deposits (continued)** |
| 4950000 <sup>(11)</sup> | Credit Agricole Corporate and Investment Bank, 3.830%, 04/14/2026 | $| 4950347 | 0.0 |
| 45000000 | Entergy Corp., 3.955%, 04/01/2026 |  | 44995071 | 0.5 |
| 3550000 <sup>(11)</sup> | Landesbank Baden-Wurttemberg, 3.840%, 05/18/2026 |  | 3551051 | 0.0 |
| 3950000 <sup>(11)</sup> | Mizuho Bank Ltd., 3.820%, 08/10/2026 |  | 3952526 | 0.0 |
| 3650000 <sup>(3)</sup><sup>(11)</sup> | MUFG Bank Ltd./ New York NY Ycd, 3.980%, (SOFRRATE + 0.350%), 09/10/2026 |  | 3650054 | 0.0 |
| 1750000 <sup>(11)</sup> | Oversea Chinese Banking Corp. Ltd., 3.860%, 05/22/2026 |  | 1750569 | 0.0 |
| 5000000 <sup>(11)</sup> | Societe Generale S.A., 3.860%, 05/12/2026 |  | 5001400 | 0.1 |
| 1400000 <sup>(11)</sup> | Sumitomo Mitsui Trust Bank Ltd., 3.820%, 09/02/2026 |  | 1401006 | 0.0 |
| 4900000 <sup>(11)</sup> | Svenska Handelsbanken, 3.940%, 10/01/2026 |  | 4907108 | 0.0 |
| 5150000 <sup>(11)</sup> | Toronto-Dominion Bank, 3.820%, 09/11/2026 |  | 5146765 | 0.1 |
| 3200000 <sup>(3)</sup><sup>(11)</sup> | Wells Fargo Bank NA, 3.830%, (SOFRRATE + 0.310%), 05/28/2026 |  | 3201231 | 0.0 |
|  | Total Certificates of Deposits <br> (Cost $102,324,548) |  | **102319621** | **0.9** |
|  | **Repurchase Agreements: 5.8%** | **Repurchase Agreements: 5.8%** | **Repurchase Agreements: 5.8%** | **Repurchase Agreements: 5.8%** |
| 73339942 <sup>(11)</sup> | ASL Capital Markets Inc., Repurchase Agreement dated 03/31/2026, 3.700%, due 04/01/2026 (Repurchase Amount $73,347,376, collateralized by various U.S. Government/U.S. Government Agency Obligations, 3.360%-7.000%, Market Value plus accrued interest $74,806,741, due 07/01/30-07/15/59) |  | 73339942 | 0.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 19015452 <sup>(11)</sup> | Bank of America securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $19,017,359, collateralized by various U.S. Government Securities, 2.750%-4.750%, Market Value plus accrued interest $19,395,764, due 05/15/28-11/15/43) | $19015452 | 0.2 |
| 40395030 <sup>(11)</sup> | Bethesda Securities, Repurchase Agreement dated 03/31/2026, 3.730%, due 04/01/2026 (Repurchase Amount $40,399,158, collateralized by various U.S. Government/U.S. Government Agency Obligations, 3.066%-5.210%, Market Value plus accrued interest $41,202,931, due 08/01/31-01/20/56) | 40395030 | 0.4 |
| 36616388 <sup>(11)</sup> | Citadel Securities LLC, Repurchase Agreement dated 03/31/2026, 3.730%, due 04/01/2026 (Repurchase Amount $36,620,130, collateralized by various U.S. Government Securities, 0.000%-5.375%, Market Value plus accrued interest $37,352,586, due 04/15/26-02/15/56) | 36616388 | 0.3 |
| 28355864 <sup>(11)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $28,358,707, collateralized by various U.S. Government Securities, 0.000%-4.625%, Market Value plus accrued interest $28,922,981, due 07/15/26-02/15/54) | 28355864 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 21658889 <sup>(11)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.720%, due 04/01/2026 (Repurchase Amount $21,661,096, collateralized by various U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $22,092,106, due 06/22/26-03/15/66) | $21658889 | 0.2 |
| 4163978 <sup>(11)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.680%, due 04/01/2026 (Repurchase Amount $4,164,398, collateralized by various U.S. Government Securities, 0.000%-3.875%, Market Value plus accrued interest $4,247,258, due 06/25/26-02/15/43) | 4163978 | 0.0 |
| 6706835 <sup>(11)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.700%, due 04/01/2026 (Repurchase Amount $6,707,515, collateralized by various U.S. Government Agency Obligations, 0.000%-5.350%, Market Value plus accrued interest $6,841,012, due 06/22/26-02/23/44) | 6706835 | 0.1 |
| 103584692 <sup>(11)</sup> | Marex Capital Markets Inc., Repurchase Agreement dated 03/31/2026, 3.730%, due 04/01/2026 (Repurchase Amount $103,595,278, collateralized by various U.S. Government/U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $105,656,386, due 08/31/29-04/01/56) | 103584692 | 0.9 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 110105196 <sup>(11)</sup> | Mirae Asset Securities (USA), Inc., Repurchase Agreement dated 03/31/2026, 3.730%, due 04/01/2026 (Repurchase Amount $110,116,448, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $112,318,936, due 05/31/26-03/01/56) | $| 110105196 | 1 |
| 32383612 <sup>(11)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $32,386,859, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $33,031,287, due 05/05/26-01/15/66) |  | 32383612 | 0.3 |
| 172918503 <sup>(11)</sup> | State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/2026, 3.780%, due 04/01/2026 (Repurchase Amount $172,936,411, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $176,100,622, due 04/15/28-02/15/56) |  | 172918503 | 1.5 |
|  | Total Repurchase Agreements <br> (Cost $649,244,381) |  | **649244381** | **5.8** |
|  | **Corporate Bonds/Notes: 0.0%** | **Corporate Bonds/Notes: 0.0%** | **Corporate Bonds/Notes: 0.0%** | **Corporate Bonds/Notes: 0.0%** |
| 2100000 <sup>(3)</sup> | Cooperatieve Rabobank UA, 4.277%, (SOFRINDX + 0.620%), 08/28/2026 |  | 2102073 | 0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |
|  | **Corporate Bonds/Notes (continued)** | **Corporate Bonds/Notes (continued)** | **Corporate Bonds/Notes (continued)** |
| 1200000 <sup>(3)</sup> | Toyota Motor Credit Corp., 4.116%, (SOFRRATE + 0.450%), 05/15/2026 | $1200051 | 0.0 |
|  | Total Corporate Bonds/Notes <br> (Cost $3,302,124) | **3302124** | **0.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage<br> of Net <br> Assets** |
|  | **Mutual Funds: 0.2%** | **Mutual Funds: 0.2%** | **Mutual Funds: 0.2%** |
| 19145000 <sup>(12)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 3.570% <br> (Cost $19,145,000) | $**19145000** | **0.2** |
|  | Total Short-Term Investments <br> (Cost $2,830,510,230) | **2830093591** | **25.3** |
|  | **Total Investments in Securities <br> (Cost $13,095,262,408)** | $**12905807364** | **115.3** |
|  | **Liabilities in Excess of Other Assets** | **(1709925893)** | **(15.3)** |
|  | **Net Assets** | $**11195881471** | **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> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <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> | Represents or includes a "to be announced" (TBA) security transaction. |
| <sup>(6)</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>(7)</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>(8)</sup> | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| <sup>(9)</sup> | Investment in affiliate. |
| <sup>(10)</sup> | The tables within the Portfolio of Investments detail open purchased options which are non-income producing securities. |
| <sup>(11)</sup> | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| <sup>(12)</sup> | Rate shown is the 7-day yield as of March 31, 2026. |

---

Currency Abbreviations: <br> PEN Peruvian Nuevo Sol

---

| | |
|:---|:---|
| <br> Reference Rate Abbreviations: | <br> 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

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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> March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $3001228484 | $— | $3001228484 |
| U.S. Government Agency Obligations |  | 2240639723 |  | 2240639723 |
| Collateralized Mortgage Obligations |  | 1500197486 |  | 1500197486 |
| Asset-Backed Securities |  | 1075143606 |  | 1075143606 |
| U.S. Treasury Obligations |  | 876733430 |  | 876733430 |
| Commercial Mortgage-Backed Securities |  | 864260337 |  | 864260337 |
| Exchange-Traded Funds | 334386275 |  |  | 334386275 |
| Sovereign Bonds |  | 113001377 |  | 113001377 |
| Bank Loans |  | 70120681 |  | 70120681 |
| Purchased Options |  | 2374 |  | 2374 |
| Short-Term Investments | 19145000 | 2810948591 |  | 2830093591 |
| Total Investments, at fair value | $353531275 | $12552276089 | $— | $12905807364 |
| **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** |
| Centrally Cleared Credit Default Swaps |  | 3750619 |  | 3750619 |
| Centrally Cleared Inflation-Linked Swaps |  | 78179 |  | 78179 |
| Centrally Cleared Interest Rate Swaps |  | 9052335 |  | 9052335 |
| Forward Foreign Currency Contracts |  | 1138975 |  | 1138975 |
| Forward Premium Swaptions |  | 4458540 |  | 4458540 |
| Futures | 1277814 |  |  | 1277814 |
| OTC interest rate swaps |  | 398819 |  | 398819 |
| OTC total return swaps |  | 1452 |  | 1452 |
| Total Assets | $354809089 | $12571155008 | $— | $12925964097 |
| **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** |
| **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** |
| Centrally Cleared Inflation-Linked Swaps | $— | $(210221) | $— | $(210221) |
| Centrally Cleared Interest Rate Swaps |  | (1913434) |  | (1913434) |
| Forward Foreign Currency Contracts |  | (5015) |  | (5015) |
| Forward Premium Swaptions |  | (8421928) |  | (8421928) |
| Futures | (20744638) |  |  | (20744638) |
| OTC interest rate swaps |  | (13929) |  | (13929) |
| OTC total return swaps |  | (3288734) |  | (3288734) |
| Written Options |  | (798878) |  | (798878) |
| Total Liabilities | $(20744638) | $(14652139) | $— | $(35396777) |

---

^ See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

---

| | |
|:---|:---|
| + | 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. |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

**Transactions with Affiliates**

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the year ended March 31, 2026, where the following issuers were considered an affiliate:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Beginning<br> Fair Value<br> at 3/31/2025** | **Purchases<br> at Cost** | **Sales <br> at Cost** | **Change In<br> Unrealized<br> Appreciation/<br> (Depreciation)** | **Ending <br> Fair <br> Value at<br> 3/31/2026** | **Investment<br> Income** | **Realized<br> Gains/<br> (Losses)** | **Net <br> Capital<br> Gain<br> Distributions** |
| Voya Multi-Sector Income ETF | $— | $232722056 | $— | $1814469 | $234536525 | $867386 | $— | $— |
| Voya Ultra Short Income ETF |  | 99750000 |  | 99750 | 99849750 | 1435857 |  |  |
|  | $— | $332472056 | $— | $1914219 | $334386275 | $2303243 | $— | $— |

---

The financial statements for the above mutual fund[s] and, as applicable, ETF[s] can be found at www.sec.gov.

At March 31, 2026, the following forward foreign currency contracts were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement Date** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| BRL | 1389452 | USD | 265673 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;04/24/26 | $1424 |
| USD | 38555382 | PEN | 131917240 | &nbsp;&nbsp;Goldman Sachs International | &nbsp;&nbsp;04/24/26 | 693296 |
| USD | 25604853 | PEN | 87663334 | &nbsp;&nbsp;Morgan Stanley Bank N.A. | &nbsp;&nbsp;04/24/26 | 444255 |
| EUR | 590051 | USD | 687788 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;04/24/26 | (5015) |
|  |  |  |  |  |  | $1133960 |

---

At March 31, 2026, the following futures contracts were outstanding for Voya Intermediate 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 | 2083 | 06/30/26 | $432108586 | $223798 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 6591 | 06/30/26 | 713012320 | (3656606) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | 2162 | 06/18/26 | 240083344 | 475757 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 3348 | 06/18/26 | 381253500 | (5773508) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | 1330 | 06/18/26 | 150975781 | 578259 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 4306 | 06/18/26 | 501918125 | (11314524) |
|  |  |  | $2419351656 | $(19466824) |

---

At March 31, 2026, the following centrally cleared credit default swaps were outstanding for Voya Intermediate Bond Fund:

**Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection<sup>(1)</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/Obligation** | **Buy/Sell<br> Protection** | **(Pay)/<br> Receive<br> Financing<br> Rate (%)<sup>(2)</sup>** | **Termination<br> Date** | **Notional**<br> **Amount<sup>(3)</sup>** | **Notional**<br> **Amount<sup>(3)</sup>** | **Fair<br> Value<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| CDX Emerging Markets, Series 44, Version 1 | Buy | (1.000) | 12/20/30 | USD | 439604000 | $8686442 | $235093 |
|  |  |  |  |  |  | $8686442 | $235093 |

---

<sup>(1)</sup> 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.

<sup>(2)</sup> Payments made 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

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

At March 31, 2026, 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>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/Obligation** | **Buy/Sell<br> Protection** | **(Pay)/** **<br> Receive<br> Financing<br> Rate (%)<sup>(2)</sup>** | **Termination<br> Date** | **Notional<br> Amount(3)** | **Notional<br> Amount(3)** | **Fair<br> Value(4)** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| CDX North American High Yield Index, Series 46, Version 1 | Sell | 5.000 | 06/20/31 | USD | 319803000 | $15322000 | $2938517 |
| CDX North American Investment Grade Index, Series 46, Version 1 | Sell | 1.000 | 06/20/31 | USD | 1000000000 | 17260925 | 577009 |
|  |  |  |  |  |  | $32582925 | $3515526 |

---

<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 March 31, 2026, the following centrally cleared interest rate swaps were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Floating Rate** | **Floating Rate Index** | **Floating<br> Rate Index<br> Payment<br> Frequency** | **Fixed<br> Rate** | **Fixed Rate<br> Payment<br> Frequency** | **Maturity<br> Date** | **Notional <br> Amount** | **Notional <br> Amount** | **Fair<br> Value** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Pay | 3-month AUD-BBR-BBSW | Quarterly | 4.687% | Quarterly | 03/25/28 | AUD | 363000000 | $219354 | $219354 |
| Pay | 1-day CAD-CORRA-OIS-COMPOUND | Semi-Annual | 2.781 | Semi-Annual | 03/20/28 | CAD | 355000000 | 300057 | 300057 |
| Pay | 1-day EUR-EuroSTR-COMPOUND | Annual | 2.590 | Annual | 03/26/28 | EUR | 223500000 | 175571 | 175571 |
| Pay | 1-day GBP-SONIA-COMPOUND | Annual | 4.309 | Annual | 03/19/28 | GBP | 200000000 | 230187 | 234447 |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 2.994 | Annual | 03/03/28 | USD | 153055000 | (819906) | (819906) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.280 | Annual | 03/13/29 | USD | 109754000 | (195594) | (195594) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.129 | Annual | 03/27/36 | USD | 76523000 | (15988) | (15988) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.950 | Annual | 03/02/57 | USD | 15122000 | (431617) | (431617) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.012 | Annual | 02/17/57 | USD | 7536000 | (137578) | (137578) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.962 | Annual | 03/12/57 | USD | 6183000 | (164503) | (164503) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.978 | Annual | 03/18/41 | USD | 1600000 | (14057) | (14057) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.090 | Annual | 03/18/51 | USD | 950000 | (8518) | (8518) |
| Pay | 3-month ZAR-JIBAR-SAFEX | Quarterly | 7.605 | Quarterly | 03/25/31 | ZAR | 511827000 | (103584) | (97282) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.457 | Annual | 02/25/27 | USD | 493100000 | 1135525 | 1135525 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.299 | Annual | 02/24/28 | USD | 370000000 | 2295030 | 2295030 |
| Receive | 1-day Secured Overnight Financing Rate | Monthly | 3.389 | Monthly | 02/04/29 | USD | 322000000 | 1183995 | 1183995 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.366 | Annual | 02/23/31 | USD | 207000000 | 2293614 | 2293614 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.428 | Annual | 03/17/29 | USD | 113318000 | 51408 | 51408 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.605 | Annual | 02/14/46 | USD | 64408750 | (28391) | (28391) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.502 | Annual | 02/24/33 | USD | 62000000 | 772249 | 772249 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.995 | Annual | 03/02/57 | USD | 14226000 | 299696 | 299696 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.045 | Annual | 02/24/57 | USD | 7183789 | 91389 | 91389 |
|  |  |  |  |  |  |  |  | $7128339 | $7138901 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

At March 31, 2026, the following OTC interest rate swaps were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Floating Rate** | **Floating Rate Index** | **Floating<br> Rate Index<br> Payment<br> Frequency** | **Counterparty** | **Fixed <br> Rate** | **Fixed Rate<br> Payment<br> Frequency** | **Maturity<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Fair <br> Value** | **Upfront<br> Payments<br> Paid/<br> (Received)** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Goldman Sachs International | 13.680% | Annual | 01/02/29 | BRL | 357072429 | $(13929) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | $(13929) |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Goldman Sachs International | 14.020% | Annual | 01/02/29 | BRL | 182110555 | 284935 |  | 284935 |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Morgan Stanley Bank N.A. | 13.900% | Annual | 01/02/29 | BRL | 112822364 | 113884 |  | 113884 |
|  |  |  |  |  |  |  |  |  | $384890 | $— | $384890 |

---

At March 31, 2026, the following centrally cleared inflation-linked swaps were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Floating Rate** | **Floating Rate Index** | **Floating Rate<br> Index Payment<br> Frequency** | **Fixed <br> Rate** | **Fixed Rate<br> Payment<br> Frequency** | **Maturity<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Fair <br> Value** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Pay | U.S. CPI Urban Consumers NSA (CPURNSA) | At Termination Date | 2.462% | At Termination Date | 03/27/31 | USD | 74522000 | $(210221) | $(210221) |
| Receive | U.S. CPI Urban Consumers NSA (CPURNSA) | At Termination Date | 2.410 | At Termination Date | 03/27/36 | USD | 74522000 | 78179 | 78179 |
|  |  |  |  |  |  |  |  | $(132042) | $(132042) |

---

At March 31, 2026, the following OTC total return swaps were outstanding for Voya Intermediate Bond 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 | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Barclays Bank PLC | 06/20/26 | USD | 30000000 | $(678000) | $— | $(678000) |
| Receive | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Barclays Bank PLC | 06/20/26 | USD | 45000000 | (1008000) | (115785) | (892215) |
| Receive | Markit iBoxx USD Liquid Leveraged Loan Index | Monthly | (Secured Overnight Financing Rate + 0.00%) | Monthly | BNP Paribas | 06/20/26 | USD | 12000000 | (198000) |  | (198000) |
| Receive | U.S. Treasury 30-Year Bond | At Termination Date | (Secured Overnight Financing Rate + 0.13%) | At Termination Date | Goldman Sachs International | 07/22/26 | USD | 50000000 | (498682) |  | (498682) |
| Receive | U.S. Treasury 30-Year Bond | At Termination Date | (Secured Overnight Financing Rate + 0.12%) | At Termination Date | JPMorgan Chase Bank N.A. | 08/06/26 | USD | 120000000 | (300509) |  | (300509) |
| Receive | U.S. Treasury 30-Year Bond | At Termination Date | (Secured Overnight Financing Rate + 0.12%) | At Termination Date | JPMorgan Chase Bank N.A. | 08/06/26 | USD | 100000000 | 1452 |  | 1452 |
| Receive | U.S. Treasury 20-Year Bond | At Termination Date | (Secured Overnight Financing Rate + 0.11%) | At Termination Date | Morgan Stanley Bank N.A. | 07/22/26 | USD | 50000000 | (605543) |  | (605543) |
|  |  |  |  |  |  |  |  |  | $(3287282) | $(115785) | $(3171497) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

<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 March 31, 2026, the following OTC written credit default swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Reference Entity** | **Exercise<br> Rate** | **(Pay)/<br> Receive<br> Fixed<br> Rate** | **Payment<br> Frequency** | **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 Index High Yield Series, 45, Version 2 | 105.00% | 5.000% | Quarterly | 04/15/26 | USD | 100000000 | $581625 | $(727732) |
|  |  |  |  |  |  |  |  |  | $581625 | $(727732) |

---

At March 31, 2026, the following OTC written equity options were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Put/ <br> Call** | **Expiration<br> Date** | **Exercise<br> Price** | **Exercise<br> Price** | **Number of<br> Contracts** | **Notional <br> Amount** | **Notional <br> Amount** | **Premiums<br> Received** | **Fair Value** |
| Invesco Senior Loan ETF | Goldman Sachs International | Put | 04/17/26 | USD | 20.000 | 810000 | USD | 16532100 | $113400 | $(69959) |
|  |  |  |  |  |  |  |  |  | $113400 | $(69959) |

---

At March 31, 2026, the following OTC purchased interest rate swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Pay/<br> Receive<br> Exercise<br> Rate** | **Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional <br> Amount** | **Notional <br> Amount** | **Cost** | **Fair Value** |
| Call on 5-Year Interest Rate Swap<sup>(1)</sup> | Morgan Stanley Bank N.A. | Receive | 2.500% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 102426000 | $571980 | $2374 |
|  |  |  |  |  |  |  |  | $571980 | $2374 |

---

At March 31, 2026, the following OTC written interest rate swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Pay/Receive<br> Exercise<br> Rate** | **Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Premiums<br> Received** | **Fair Value** |
| Call on 10-Year Interest Rate Swap<sup>(2)</sup> | Morgan Stanley Bank N.A. | Pay | 2.300% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 51213000 | $421763 | $(1187) |
|  |  |  |  |  |  |  |  | $421763 | $(1187) |

---

At March 31, 2026, the following OTC purchased forward premium swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise<br> Rate<sup>(3)</sup>** | **Pay/<br> Receive<br> Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Premium<br> receivable/<br> (payable)<br> at expiration<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Call on 10-Year Interest Rate Swap | Deutsche Bank AG | 3.820% | Receive | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 47099000 | $(1720880) | $(250851) |
| Call on 10-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.605% | Receive | 1-day Secured Overnight Financing Rate | 02/12/36 | USD | 103054000 | (4122160) | 233273 |
| Call on 1-Year Interest Rate Swap | Mizuho Capital Markets LLC | 3.150% | Receive | 1-day Secured Overnight Financing Rate | 04/10/26 | USD | 515270000 | (304009) | (301847) |
| 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) | 1078180 |
| Call on 5-Year Interest Rate Swap | UBS AG | 3.780% | Receive | 1-day Secured Overnight Financing Rate | 03/20/28 | USD | 51527000 | (1288175) | (118019) |
| Put on 10-Year Interest Rate Swap | Deutsche Bank AG | 3.820% | Pay | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 47099000 | (1720880) | 448842 |
| 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) | 832034 |
| 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) | (743444) |
| Put on 5-Year Interest Rate Swap | UBS AG | 3.780% | Pay | 1-day Secured Overnight Financing Rate | 03/20/28 | USD | 51527000 | (1288175) | (43795) |
|  |  |  |  |  |  |  |  | $(35822939) | $1134373 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

At March 31, 2026, the following OTC written forward premium swaptions were outstanding for Voya Intermediate Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise<br> Rate<sup>(3)</sup>** | **Pay/<br> Receive<br> Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional <br> Amount** | **Notional <br> Amount** | **Premium<br> receivable/<br> (payable)<br> at expiration<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Call on 10-Year Interest Rate Swap | Toronto-Dominion Bank | 3.943% | Pay | 1-day Secured Overnight Financing Rate | 07/21/26 | USD | 26314000 | $439444 | $(65677) |
| Call on 1-Year Interest Rate Swap | BNP Paribas | 2.500% | Pay | 1-day Secured Overnight Financing Rate | 02/22/27 | USD | 515270000 | 644088 | 136071 |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.415% | Pay | 1-day Secured Overnight Financing Rate | 02/11/28 | USD | 128817500 | 554559 | (102246) |
| 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 | 258568 |
| 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 | 395752 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.205% | Pay | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 200940000 | 894183 | 43025 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.343% | Pay | 1-day Secured Overnight Financing Rate | 12/16/27 | USD | 134212500 | 624088 | (6820) |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.161% | Pay | 1-day Secured Overnight Financing Rate | 11/22/27 | USD | 268424000 | 1261593 | 213673 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.254% | Pay | 1-day Secured Overnight Financing Rate | 06/30/27 | USD | 134212000 | 513361 | (260662) |
| Call on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.123% | Pay | 1-day Secured Overnight Financing Rate | 10/25/27 | USD | 268424000 | 1251527 | (565094) |
| Call on 30-Year Interest Rate Swap | BNP Paribas | 4.135% | Pay | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 12881000 | 1455553 | 26757 |
| Call on 30-Year Interest Rate Swap | Deutsche Bank AG | 3.000% | Pay | 1-day Secured Overnight Financing Rate | 01/07/30 | USD | 52628000 | 1210444 | (311965) |
| Call on 30-Year Interest Rate Swap | Goldman Sachs International | 4.130% | Pay | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 12881000 | 1465858 | 40276 |
| Call on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 4.130% | Pay | 1-day Secured Overnight Financing Rate | 02/25/31 | USD | 12881000 | 1460705 | 33742 |
| Call on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.000% | Pay | 1-day Secured Overnight Financing Rate | 01/07/30 | USD | 26313000 | 605199 | (155977) |
| Call on 30-Year Interest Rate Swap | Toronto-Dominion Bank | 4.251% | Pay | 1-day Secured Overnight Financing Rate | 02/04/27 | USD | 20094000 | 968531 | (273017) |
| Call on 30-Year Interest Rate Swap | UBS AG | 4.256% | Pay | 1-day Secured Overnight Financing Rate | 02/03/27 | USD | 20094000 | 966521 | (283404) |
| Put on 10-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 5.605% | Receive | 1-day Secured Overnight Financing Rate | 02/12/36 | USD | 103054000 | 5255754 | (253843) |
| Put on 10-Year Interest Rate Swap | Toronto-Dominion Bank | 3.943% | Receive | 1-day Secured Overnight Financing Rate | 07/21/26 | USD | 26314000 | 439444 | 90492 |
| Put on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.415% | Receive | 1-day Secured Overnight Financing Rate | 02/11/28 | USD | 128817500 | 554559 | (165549) |
| 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 | (486729) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.205% | Receive | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 200940000 | 894183 | (449325) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.343% | Receive | 1-day Secured Overnight Financing Rate | 12/16/27 | USD | 134212500 | 624088 | (148548) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.161% | Receive | 1-day Secured Overnight Financing Rate | 11/22/27 | USD | 268424000 | 1261593 | (517371) |
| 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 | (1281953) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.254% | Receive | 1-day Secured Overnight Financing Rate | 06/30/27 | USD | 134212000 | 513361 | 32446 |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.123% | Receive | 1-day Secured Overnight Financing Rate | 10/25/27 | USD | 268424000 | 1251527 | 263450 |
| Put on 1-Year Interest Rate Swap | UBS AG | 3.700% | Receive | 1-day Secured Overnight Financing Rate | 02/10/27 | USD | 515270000 | 499812 | (1134845) |
| Put on 30-Year Interest Rate Swap | BNP Paribas | 4.135% | Receive | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 12881000 | 1455553 | (84364) |
| Put on 30-Year Interest Rate Swap | Deutsche Bank AG | 5.600% | Receive | 1-day Secured Overnight Financing Rate | 02/24/31 | USD | 62796000 | 2624873 | (250119) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise<br> Rate<sup>(3)</sup>** | **Pay/<br> Receive<br> Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional <br> Amount** | **Notional <br> Amount** | **Premium<br> receivable/<br> (payable) <br> at expiration<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Put on 30-Year Interest Rate Swap | Goldman Sachs International | 4.130% | Receive | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 12881000 | $1465858 | $(79943) |
| Put on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 4.130% | Receive | 1-day Secured Overnight Financing Rate | 02/25/31 | USD | 12881000 | 1460705 | (86521) |
| Put on 30-Year Interest Rate Swap | Toronto-Dominion Bank | 4.251% | Receive | 1-day Secured Overnight Financing Rate | 02/04/27 | USD | 20094000 | 968531 | 162867 |
| Put on 30-Year Interest Rate Swap | UBS AG | 4.256% | Receive | 1-day Secured Overnight Financing Rate | 02/03/27 | USD | 20094000 | 966521 | 169092 |
|  |  |  |  |  |  |  |  | $40427393 | $(5097761) |

---

<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:

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

EUR — EU Euro

GBP — British Pound

PEN — Peruvian Nuevo Sol

USD — United States Dollar

ZAR — South African Rand

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of March 31, 2026 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 | Investments in securities at value\* | $2374 |
| Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 1138975 |
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 4458540 |
| Interest rate contracts | Variation margin receivable on futures contracts\*\* | 1277814 |
| Credit contracts | Variation margin receivable on centrally cleared swaps\*\* | 3750619 |
| Interest rate contracts | Variation margin receivable on centrally cleared swaps\*\* | 9130514 |
| Interest rate contracts | Unrealized appreciation on OTC swap agreements | 400271 |
| **Total Asset Derivatives** |  | $20159107 |
| **<u>Liability Derivatives</u>** |  |  |
| Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $5015 |
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | 8421928 |
| Interest rate contracts | Variation margin payable on futures contracts\*\* | 20744638 |
| Interest rate contracts | Variation margin payable on centrally cleared swaps\*\* | 2123655 |
| Interest rate contracts | Upfront payments received on OTC swap agreements | 115785 |
| Interest rate contracts | Unrealized depreciation on OTC swap agreements | 3186878 |
| Credit contracts | Written options, at fair value | 727732 |
| Interest rate contracts | Written options, at fair value | 1187 |
| Equity contracts | Written options, at fair value | 69959 |
| **Total Liability Derivatives** |  | $35396777 |

---

\* Includes purchased options.

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

\*\* 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 year ended March 31, 2026 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging<br> instruments** | **Investments<sup>\*</sup>** | **Forward<br> foreign<br> currency<br> contracts** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $3304363 | $— | $— | $(5729700) | $7093389 | $4668052 |
| Foreign exchange contracts |  | (27360989) |  |  |  | (27360989) |
| Interest rate contracts |  |  | (20996873) | 4402107 | 2334210 | (14260556) |
| **Total** | $3304363 | $(27360989) | $(20996873) | $(1327593) | $9427599 | $(36953493) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging<br> instruments** | **Investments<sup>\*</sup>** | **Forward<br> foreign<br> currency<br> contracts** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $— | $— | $— | $3015142 | $(149368) | $2865774 |
| Equity contracts |  |  |  |  | 43441 | 43441 |
| Foreign exchange contracts |  | 2208109 |  |  |  | 2208109 |
| Interest rate contracts | (6310814) |  | (31368818) | 3517744 | (2448888) | (36610776) |
| **Total** | $(6310814) | $2208109 | $(31368818) | $6532886 | $(2554815) | $(31493452) |

---

\* 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 March 31, 2026:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Barclays Bank <br> PLC** | **BNP Paribas** | **Citibank N.A.** | **Deutsche Bank <br> AG** | **Goldman<br> Sachs<br> International** | **JPMorgan<br> Chase Bank <br> N.A.** | **Mizuho Capital<br> Markets LLC** | **Morgan Stanley<br> Bank N.A.** | **Nomura Global<br> Financial<br> Products Inc.** | **Standard<br> Chartered Bank** |
| **Assets:** |  |  |  |  |  |  |  |  |  |  |
| Purchased options | $— | $— | $— | $— | $— | $— | $— | $2374 | $— | $— |
| Forward foreign currency contracts |  |  | 1424 |  | 693296 |  |  | 444255 |  |  |
| Forward premium swaptions | 1910214 | 162828 |  | 1103162 | 40276 | 289144 |  |  | 530465 |  |
| OTC interest rate swaps |  |  |  |  | 284935 |  |  | 113884 |  |  |
| OTC total return swaps |  |  |  |  |  | 1452 |  |  |  |  |
| **Total Assets** | $1910214 | $162828 | $1424 | $1103162 | $1018507 | $290596 | $— | $560513 | $530465 | $— |
| **Liabilities:** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency contracts | $— | $— | $— | $— | $— | $— | $— | $— | $— | $5015 |
| Forward premium swaptions |  | 84364 |  | 1567459 | 79943 | 3408123 | 301847 |  | 1061435 |  |
| OTC interest rate swaps |  |  |  |  | 13929 |  |  |  |  |  |
| OTC total return swaps | 1686000 | 198000 |  |  | 498682 | 300509 |  | 605543 |  |  |
| Written options |  |  |  |  | 797691 |  |  | 1187 |  |  |
| **Total Liabilities** | $1686000 | $282364 | $— | $1567459 | $1390245 | $3708632 | $301847 | $606730 | $1061435 | $5015 |
| **Net OTC derivative instruments by counterparty, at fair value** | $224214 | $(119536) | $1424 | $(464297) | $(371738) | $(3418036) | $(301847) | $(46217) | $(530970) | $(5015) |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $(224214) | $119536 | $— | $464297 | $371738 | $3418036 | $— | $46217 | $530970 | $— |
| **Net Exposure<sup>(1),(2)</sup>** | $— | $— | $1424 | $— | $— | $— | $(301847) | $— | $— | $(5015) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Intermediate Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Toronto-<br> Dominion Bank** | **UBS AG** | **Total** |
| **Assets:** |  |  |  |
| Purchased options | $— | $— | $2374 |
| Forward foreign currency contracts |  |  | 1138975 |
| Forward premium swaptions | 253359 | 169092 | 4458540 |
| OTC interest rate swaps |  |  | 398819 |
| OTC total return swaps |  |  | 1452 |
| **Total Assets** | $253359 | $169092 | $6000160 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Forward foreign currency contracts | $— | $— | $5015 |
| Forward premium swaptions | 338694 | 1580063 | 8421928 |
| OTC interest rate swaps |  |  | 13929 |
| OTC total return swaps |  |  | 3288734 |
| Written options |  |  | 798878 |
| **Total Liabilities** | $338694 | $1580063 | $12528484 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(85335) | $(1410971) | $(6528324) |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $— | $1410971 | $6137551 |
| **Net Exposure<sup>(1),(2)</sup>** | $(85335) | $— | $(390773) |

---

<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 March 31, 2026, the Fund had pledged $220,000, $790,000, $1,780,000, $6,130,000, $270,000, $930,000 and $1,850,000 to BNP Paribas, Deutsche Bank AG, Goldman Sachs International, JPMorgan Chase Bank N.A., Morgan Stanley Bank N.A., Nomura Global Financial Products Inc. and UBS AG, respectively. In addition, the Fund had received $940,000 from Barclays Bank PLC. Excess cash collateral, if any, is not shown for financial reporting purposes.

At March 31, 2026, 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 $13,104,310,022. | Cost for U.S. federal income tax purposes was $13,104,310,022. |
| Net unrealized depreciation consisted of: | Net unrealized depreciation consisted of: |
| Gross Unrealized Appreciation | $99532874 |
| Gross Unrealized Depreciation | (313167106) |
| Net Unrealized Depreciation | $(213634232) |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: 47.6%** | **CORPORATE BONDS/NOTES: 47.6%** |  |  |  |
|  | **Basic Materials: 2.0%** |  |  |  |
| 757000 | Air Products and Chemicals, Inc., 4.300%, 06/11/2028 | $| 759807 | 0.2 |
| 186000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2026 |  | 186760 | 0.0 |
| 730000 <sup>(1)</sup> | Celanese US Holdings LLC, 6.850%, 11/15/2028 |  | 759591 | 0.2 |
| 304000 <sup>(2)</sup> | Chemours Co., 5.750%, 11/15/2028 |  | 301238 | 0.1 |
| 725000 <sup>(2)</sup> | Cleveland-Cliffs, Inc., 6.875%, 11/01/2029 |  | 725424 | 0.2 |
| 188000 | Eastman Chemical Co., 5.000%, 08/01/2029 |  | 189786 | 0.1 |
| 132000 <sup>(1)</sup> | Ecolab, Inc., 1.650%, 02/01/2027 |  | 129399 | 0.0 |
| 189000 | Ecolab, Inc., 4.300%, 06/15/2028 |  | 189498 | 0.1 |
| 417000 | EIDP, Inc., 4.500%, 05/15/2026 |  | 416942 | 0.1 |
| 1200000 <sup>(2)</sup> | NOVA Chemicals Corp., 5.250%, 06/01/2027 |  | 1198818 | 0.3 |
| 186000 | Nucor Corp., 4.650%, 06/01/2030 |  | 187878 | 0.1 |
| 65000 | Nutrien Ltd., 4.900%, 03/27/2028 |  | 65573 | 0.0 |
| 311000 | Rio Tinto Finance USA PLC, 4.500%, 03/14/2028 |  | 312586 | 0.1 |
| 176000 | Rio Tinto Finance USA PLC, 4.875%, 03/14/2030 |  | 178815 | 0.0 |
| 191000 | Sherwin-Williams Co., 4.300%, 08/15/2028 |  | 190635 | 0.1 |
| 127000 | Sherwin-Williams Co., 4.500%, 08/15/2030 |  | 126805 | 0.0 |
| 1520000 | Steel Dynamics, Inc., 4.000%, 12/15/2028 |  | 1504557 | 0.4 |
|  |  |  | **7424112** | **2.0** |
|  | **Communications: 4.7%** | **Communications: 4.7%** | **Communications: 4.7%** | **Communications: 4.7%** |
| 147000 <sup>(1)</sup> | Alphabet, Inc., 1.100%, 08/15/2030 |  | 129309 | 0.0 |
| 985000 | Alphabet, Inc., 3.700%, 02/15/2029 |  | 976740 | 0.3 |
| 1085000 | Alphabet, Inc., 3.875%, 11/15/2028 |  | 1081694 | 0.3 |
| 650000 | Amazon.com, Inc., 3.900%, 11/20/2028 |  | 647406 | 0.2 |
| 704000 | Amazon.com, Inc., 4.000%, 03/13/2029 |  | 700570 | 0.2 |
| 140000 | AppLovin Corp., 5.125%, 12/01/2029 |  | 140845 | 0.0 |
| 50000 | AppLovin Corp., 5.375%, 12/01/2031 |  | 50509 | 0.0 |
| 126000 <sup>(1)</sup> | Cisco Systems, Inc., 4.550%, 02/24/2028 |  | 127329 | 0.0 |
| 552000 | Cisco Systems, Inc., 4.750%, 02/24/2030 |  | 562769 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Communications: (continued)** |  |  |  |
| 235000 | Comcast Corp., 3.400%, 04/01/2030 | $| 225659 | 0.1 |
| 800000 <sup>(2)</sup> | Directv Financing LLC / Directv Financing Co- Obligor, Inc., 5.875%, 08/15/2027 |  | 799649 | 0.2 |
| 800000 <sup>(2)</sup> | Match Group Holdings II LLC, 5.000%, 12/15/2027 |  | 797184 | 0.2 |
| 725000 <sup>(1)(2)</sup> | McGraw-Hill Education, Inc., 5.750%, 08/01/2028 |  | 717401 | 0.2 |
| 280000 | Meta Platforms, Inc., 4.200%, 11/15/2030 |  | 277348 | 0.1 |
| 316000 <sup>(1)</sup> | Meta Platforms, Inc., 4.300%, 08/15/2029 |  | 317476 | 0.1 |
| 1497000 <sup>(2)</sup> | NBN Co. Ltd., 1.450%, 05/05/2026 |  | 1492992 | 0.4 |
| 349000 <sup>(2)</sup> | NBN Co. Ltd., 5.750%, 10/06/2028 |  | 360772 | 0.1 |
| 800000 <sup>(1)(2)</sup> | Nexstar Media, Inc., 4.750%, 11/01/2028 |  | 787212 | 0.2 |
| 1024000 <sup>(2)</sup> | NTT Finance Corp., 4.567%, 07/16/2027 |  | 1026631 | 0.3 |
| 957000 <sup>(2)</sup> | NTT Finance Corp., 4.620%, 07/16/2028 |  | 960794 | 0.3 |
| 563000 | Omnicom Group, Inc., 4.200%, 03/02/2029 |  | 557129 | 0.1 |
| 800000 <sup>(2)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 5.000%, 08/15/2027 |  | 798626 | 0.2 |
| 251000 | Rogers Communications, Inc., 5.000%, 02/15/2029 |  | 253623 | 0.1 |
| 775000 <sup>(2)</sup> | Sirius XM Radio LLC, 4.000%, 07/15/2028 |  | 748538 | 0.2 |
| 1147000 | Sprint Capital Corp., 6.875%, 11/15/2028 |  | 1212969 | 0.3 |
| 269000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 |  | 258122 | 0.1 |
| 249000 | T-Mobile USA, Inc., 2.625%, 04/15/2026 |  | 248819 | 0.1 |
| 327000 | T-Mobile USA, Inc., 3.375%, 04/15/2029 |  | 316976 | 0.1 |
| 291000 | T-Mobile USA, Inc., 4.950%, 03/15/2028 |  | 294123 | 0.1 |
| 395000 | Uber Technologies, Inc., 4.300%, 01/15/2030 |  | 391872 | 0.1 |
|  |  |  | **17261086** | **4.7** |
|  | **Consumer, Cyclical: 5.4%** | **Consumer, Cyclical: 5.4%** | **Consumer, Cyclical: 5.4%** | **Consumer, Cyclical: 5.4%** |
| 725000 <sup>(1)</sup> | Advance Auto Parts, Inc., 1.750%, 10/01/2027 |  | 682816 | 0.2 |
| 1950000 <sup>(2)</sup> | Alimentation Couche- Tard, Inc., 4.148%, 09/29/2028 |  | 1936686 | 0.5 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 13705 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | $13524 | 0.0 |
| 565000 <sup>(2)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.750%, 04/20/2029 | 562271 | 0.1 |
| 225000 | American Honda Finance Corp., GMTN, 4.400%, 10/05/2026 | 224978 | 0.1 |
| 126000 | American Honda Finance Corp., GMTN, 4.450%, 10/22/2027 | 125864 | 0.0 |
| 195000 | American Honda Finance Corp., MTN, 1.300%, 09/09/2026 | 192587 | 0.1 |
| 66000 <sup>(2)</sup> | BMW US Capital LLC, 1.250%, 08/12/2026 | 65257 | 0.0 |
| 618000 <sup>(2)</sup> | BMW US Capital LLC, 4.150%, 08/11/2027 | 616749 | 0.2 |
| 128000 <sup>(2)</sup> | BMW US Capital LLC, 4.500%, 08/11/2030 | 126596 | 0.0 |
| 502000 | BorgWarner, Inc., 4.950%, 08/15/2029 | 507914 | 0.1 |
| 725000 <sup>(2)</sup> | Cinemark USA, Inc., 5.250%, 07/15/2028 | 719317 | 0.2 |
| 410000 <sup>(2)</sup> | Daimler Truck Finance North America LLC, 5.000%, 01/15/2027 | 412152 | 0.1 |
| 1032000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 1018948 | 0.3 |
| 300000 | Ford Motor Credit Co. LLC, 5.800%, 03/08/2029 | 303454 | 0.1 |
| 255000 | General Motors Financial Co., Inc., 4.350%, 01/17/2027 | 254690 | 0.1 |
| 123000 | General Motors Financial Co., Inc., 5.050%, 04/04/2028 | 124086 | 0.0 |
| 415000 | General Motors Financial Co., Inc., 5.400%, 04/06/2026 | 415040 | 0.1 |
| 300000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 306988 | 0.1 |
| 250000 | Home Depot, Inc., 4.875%, 06/25/2027 | 252472 | 0.1 |
| 195000 | Honda Motor Co. Ltd., 2.534%, 03/10/2027 | 191688 | 0.0 |
| 127000 | Honda Motor Co. Ltd., 4.436%, 07/08/2028 | 126731 | 0.0 |
| 185000 | Hyatt Hotels Corp., 5.050%, 03/30/2028 | 186616 | 0.0 |
| 975000 <sup>(2)</sup> | Hyundai Capital America, 4.250%, 09/18/2028 | 966368 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage<br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 240000 <sup>(2)</sup> | Hyundai Capital America, 4.750%, 04/06/2029 | $240137 | 0.1 |
| 126000 <sup>(2)</sup> | Hyundai Capital America, 5.650%, 06/26/2026 | 126348 | 0.0 |
| 262000 <sup>(2)</sup> | Hyundai Capital America, 5.950%, 09/21/2026 | 263640 | 0.1 |
| 128000 | Lowe's Cos., Inc., 3.350%, 04/01/2027 | 127030 | 0.0 |
| 1365000 | Lowe's Cos., Inc., 4.000%, 10/15/2028 | 1354293 | 0.4 |
| 192000 | Marriott International, Inc., 4.200%, 07/15/2027 | 191776 | 0.1 |
| 620000 | McDonald's Corp., 4.400%, 02/12/2031 | 618438 | 0.2 |
| 249000 <sup>(2)</sup> | Mercedes-Benz Finance North America LLC, 5.100%, 08/03/2028 | 252884 | 0.1 |
| 410000 | MGM Resorts International, 4.750%, 10/15/2028 | 402545 | 0.1 |
| 315000 | MGM Resorts International, 5.500%, 04/15/2027 | 315805 | 0.1 |
| 800000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 806411 | 0.2 |
| 192000 | PACCAR Financial Corp., 4.000%, 08/08/2028 | 191906 | 0.1 |
| 235000 | PACCAR Financial Corp., 4.000%, 09/26/2029 | 233546 | 0.1 |
| 870000 | PACCAR Financial Corp. R, 4.000%, 11/07/2028 | 867532 | 0.2 |
| 725000 <sup>(2)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 722864 | 0.2 |
| 511000 | Toll Brothers Finance Corp., 4.350%, 02/15/2028 | 509092 | 0.1 |
| 124000 | Toyota Motor Credit Corp., 5.400%, 11/20/2026 | 124998 | 0.0 |
| 230000 | Toyota Motor Credit Corp., MTN, 4.350%, 10/08/2027 | 230770 | 0.1 |
| 186000 | Toyota Motor Credit Corp. B, 5.000%, 03/19/2027 | 187482 | 0.0 |
| 21490 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 21863 | 0.0 |
| 205000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.550%, 09/11/2028 | 204520 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Consumer, Cyclical: (continued)** |  |  |  |
| 425000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 4.950%, 08/15/2029 | $| 425961 | 0.1 |
| 535000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 |  | 539569 | 0.1 |
| 500000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 5.650%, 09/12/2028 |  | 509799 | 0.1 |
| 385000 <sup>(2)</sup> | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 |  | 407242 | 0.1 |
|  |  |  | **20210243** | **5.4** |
|  | **Consumer, Non-cyclical: 6.7%** | **Consumer, Non-cyclical: 6.7%** | **Consumer, Non-cyclical: 6.7%** | **Consumer, Non-cyclical: 6.7%** |
| 410000 | Abbott Laboratories, 4.000%, 03/15/2031 |  | 403595 | 0.1 |
| 192000 | AbbVie, Inc., 3.200%, 05/14/2026 |  | 191811 | 0.1 |
| 280000 | AbbVie, Inc., 3.200%, 11/21/2029 |  | 269984 | 0.1 |
| 491000 | AbbVie, Inc., 4.800%, 03/15/2029 |  | 498955 | 0.1 |
| 800000 <sup>(2)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 |  | 797117 | 0.2 |
| 725000 <sup>(2)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 |  | 691984 | 0.2 |
| 125000 | Amgen, Inc., 5.150%, 03/02/2028 |  | 126887 | 0.0 |
| 317000 | Astrazeneca Finance LLC, 4.800%, 02/26/2027 |  | 318883 | 0.1 |
| 800000 <sup>(2)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 |  | 797493 | 0.2 |
| 126000 | Becton Dickinson & Co., 4.693%, 02/13/2028 |  | 126657 | 0.0 |
| 126000 | Cardinal Health, Inc., 4.700%, 11/15/2026 |  | 126240 | 0.0 |
| 299000 | Cardinal Health, Inc., 5.000%, 11/15/2029 |  | 303617 | 0.1 |
| 62000 | Cardinal Health, Inc., 5.125%, 02/15/2029 |  | 63087 | 0.0 |
| 127000 <sup>(2)</sup> | Cargill, Inc., 3.625%, 04/22/2027 |  | 126358 | 0.0 |
| 388000 | Cigna Group, 2.375%, 03/15/2031 |  | 348711 | 0.1 |
| 460000 | Cigna Group, 4.500%, 09/15/2030 |  | 458570 | 0.1 |
| 127000 <sup>(2)</sup> | CSL Finance PLC, 3.850%, 04/27/2027 |  | 126332 | 0.0 |
| 368000 | CVS Health Corp., 5.400%, 06/01/2029 |  | 376791 | 0.1 |
| 760000 <sup>(2)</sup> | Darling Ingredients, Inc., 5.250%, 04/15/2027 |  | 760612 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 398000 <sup>(2)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 | $401371 | 0.1 |
| 768000 | Eli Lilly & Co., 4.000%, 10/15/2028 | 767274 | 0.2 |
| 189000 | Eli Lilly & Co., 4.550%, 02/12/2028 | 190598 | 0.1 |
| 247000 | Eli Lilly & Co., 4.750%, 02/12/2030 | 251531 | 0.1 |
| 192000 <sup>(2)</sup> | EMD Finance LLC, 4.125%, 08/15/2028 | 191134 | 0.1 |
| 63000 <sup>(2)</sup> | ERAC USA Finance LLC, 5.000%, 02/15/2029 | 64028 | 0.0 |
| 348000 | Gilead Sciences, Inc., 4.800%, 11/15/2029 | 354570 | 0.1 |
| 357000 | GlaxoSmithKline Capital, Inc., 4.500%, 04/15/2030 | 359314 | 0.1 |
| 706000 | HCA, Inc., 5.875%, 02/01/2029 | 726697 | 0.2 |
| 552000 | Hershey Co., 4.750%, 02/24/2030 | 560880 | 0.2 |
| 496000 | Humana, Inc., 5.750%, 03/01/2028 | 505930 | 0.1 |
| 961000 <sup>(2)</sup> | Imperial Brands Finance PLC, 4.500%, 06/30/2028 | 961839 | 0.3 |
| 189000 | Johnson & Johnson, 4.550%, 03/01/2028 | 191281 | 0.1 |
| 285000 | Laboratory Corp. of America Holdings, 4.350%, 04/01/2030 | 282591 | 0.1 |
| 190000 <sup>(2)</sup> | Mars, Inc., 4.600%, 03/01/2028 | 191221 | 0.1 |
| 289000 <sup>(2)</sup> | Mars, Inc., 4.800%, 03/01/2030 | 292097 | 0.1 |
| 565000 | McCormick & Co., Inc., 4.150%, 02/15/2029 | 559626 | 0.1 |
| 180000 | McKesson Corp., 4.250%, 09/15/2029 | 179574 | 0.0 |
| 293000 | Merck & Co., Inc., 4.150%, 03/15/2031 | 289822 | 0.1 |
| 355000 | Novartis Capital Corp., 3.800%, 09/18/2029 | 350469 | 0.1 |
| 635000 | Novartis Capital Corp., 4.100%, 03/16/2029 | 634329 | 0.2 |
| 630000 | Novartis Capital Corp., 4.400%, 03/18/2031 | 630004 | 0.2 |
| 510000 | PepsiCo, Inc., 4.100%, 01/15/2029 | 509815 | 0.1 |
| 136000 <sup>(1)</sup> | PepsiCo, Inc., 4.300%, 07/23/2030 | 136389 | 0.0 |
| 126000 | Philip Morris International, Inc., 4.125%, 04/28/2028 | 125809 | 0.0 |
| 267000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 271025 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |  |
| 495000 | Philip Morris International, Inc., 5.125%, 02/13/2031 | $| 506676 | 0.1 |
| 790000 <sup>(2)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.375%, 04/30/2029 |  | 768177 | 0.2 |
| 128000 | Quanta Services, Inc., 4.300%, 08/09/2028 |  | 127834 | 0.0 |
| 325000 | Quanta Services, Inc., 4.750%, 08/09/2027 |  | 326700 | 0.1 |
| 126000 | Quest Diagnostics, Inc., 4.600%, 12/15/2027 |  | 126611 | 0.0 |
| 185000 | RELX Capital, Inc., 4.750%, 03/27/2030 |  | 186458 | 0.0 |
| 201000 <sup>(2)</sup> | Rentokil Terminix Funding LLC, 5.000%, 04/28/2030 |  | 201879 | 0.1 |
| 365000 <sup>(2)</sup> | Roche Holdings, Inc., 5.338%, 11/13/2028 |  | 375518 | 0.1 |
| 197000 | S&P Global, Inc., 2.450%, 03/01/2027 |  | 193916 | 0.1 |
| 916000 | S&P Global, Inc., 2.950%, 03/01/2029 |  | 882555 | 0.2 |
| 247000 | Smith & Nephew PLC, 5.150%, 03/20/2027 |  | 248307 | 0.1 |
| 267000 | Solventum Corp., 5.400%, 03/01/2029 |  | 273172 | 0.1 |
| 254000 | Stryker Corp., 3.650%, 03/07/2028 |  | 251342 | 0.1 |
| 1290000 | Stryker Corp., 4.700%, 02/10/2028 |  | 1301661 | 0.3 |
| 490000 | Tyson Foods, Inc., 5.400%, 03/15/2029 |  | 502886 | 0.1 |
| 194000 | UnitedHealth Group, Inc., 2.950%, 10/15/2027 |  | 190537 | 0.1 |
| 295000 | UnitedHealth Group, Inc., 4.800%, 01/15/2030 |  | 298594 | 0.1 |
| 765000 <sup>(2)</sup> | Williams Scotsman International, Inc., 4.625%, 08/15/2028 |  | 753097 | 0.2 |
| 523000 | Zimmer Biomet Holdings, Inc., 5.050%, 02/19/2030 |  | 531426 | 0.1 |
| 64000 | Zoetis, Inc., 4.150%, 08/17/2028 |  | 63812 | 0.0 |
|  |  |  | **25004060** | **6.7** |
|  | **Energy: 1.3%** | **Energy: 1.3%** | **Energy: 1.3%** | **Energy: 1.3%** |
| 197000 | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc., 2.061%, 12/15/2026 |  | 194395 | 0.1 |
| 191000 | Chevron USA, Inc., 4.050%, 08/13/2028 |  | 191266 | 0.1 |
| 389000 <sup>(1)</sup> | Chevron USA, Inc., 4.300%, 10/15/2030 |  | 390115 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Energy: (continued)** |  |  |  |
| 190000 | Chevron USA, Inc., 4.475%, 02/26/2028 | $| 191534 | 0.1 |
| 744000 | Chevron USA, Inc., 4.687%, 04/15/2030 |  | 755797 | 0.2 |
| 249000 | Diamondback Energy, Inc., 5.150%, 01/30/2030 |  | 254276 | 0.1 |
| 124000 | Diamondback Energy, Inc., 5.200%, 04/18/2027 |  | 125004 | 0.0 |
| 189000 | Enbridge, Inc., 4.600%, 06/20/2028 |  | 189524 | 0.0 |
| 190000 | Enterprise Products Operating LLC, 4.300%, 06/20/2028 |  | 190290 | 0.0 |
| 131000 | Kinder Morgan, Inc., 1.750%, 11/15/2026 |  | 128979 | 0.0 |
| 140000 | Occidental Petroleum Corp., 6.625%, 09/01/2030 |  | 150616 | 0.0 |
| 730000 <sup>(2)</sup> | Sunoco L.P., 7.000%, 05/01/2029 |  | 750154 | 0.2 |
| 650000 | Targa Resources Corp., 4.350%, 01/15/2029 |  | 647424 | 0.2 |
| 800000 <sup>(2)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 |  | 818573 | 0.2 |
|  |  |  | **4977947** | **1.3** |
|  | **Financial: 16.2%** | **Financial: 16.2%** | **Financial: 16.2%** | **Financial: 16.2%** |
| 800000 <sup>(2)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 4.250%, 10/15/2027 |  | 784646 | 0.2 |
| 346000 <sup>(3)</sup> | American Express Co., 5.098%, 02/16/2028 |  | 347929 | 0.1 |
| 1160000 <sup>(3)</sup> | American Express Co., 5.389%, 07/28/2027 |  | 1163131 | 0.3 |
| 290000 <sup>(3)</sup> | American Express Co., 5.645%, 04/23/2027 |  | 290298 | 0.1 |
| 445000 | American Tower Corp., 3.650%, 03/15/2027 |  | 441907 | 0.1 |
| 62000 | American Tower Corp., 5.250%, 07/15/2028 |  | 63086 | 0.0 |
| 61000 | American Tower Corp., 5.500%, 03/15/2028 |  | 62088 | 0.0 |
| 190000 | Aon North America, Inc., 5.125%, 03/01/2027 |  | 191019 | 0.1 |
| 249000 | Aon North America, Inc., 5.150%, 03/01/2029 |  | 254376 | 0.1 |
| 482000 | Arthur J Gallagher & Co., 4.850%, 12/15/2029 |  | 487440 | 0.1 |
| 1125000 <sup>(2)</sup> | Aviation Capital Group LLC, 5.125%, 04/10/2030 |  | 1131354 | 0.3 |
| 88000 <sup>(2)</sup> | Avolon Holdings Funding Ltd., 2.528%, 11/18/2027 |  | 85122 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 600000 | Banco Bilbao Vizcaya Argentaria SA, 4.150%, 03/03/2029 | $593153 | 0.2 |
| 200000 <sup>(3)</sup> | Banco Santander SA, 5.538%, 03/14/2030 | 204834 | 0.1 |
| 400000 | Banco Santander SA, 5.588%, 08/08/2028 | 409789 | 0.1 |
| 196000 <sup>(3)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 194372 | 0.1 |
| 130000 <sup>(3)</sup> | Bank of America Corp., 3.419%, 12/20/2028 | 127754 | 0.0 |
| 255000 <sup>(3)</sup> | Bank of America Corp., 3.705%, 04/24/2028 | 253118 | 0.1 |
| 132000 <sup>(3)</sup> | Bank of America Corp., 4.376%, 04/27/2028 | 131925 | 0.0 |
| 240000 <sup>(3)</sup> | Bank of America Corp., 4.456%, 02/06/2032 | 237047 | 0.1 |
| 135000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 128464 | 0.0 |
| 197000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 194024 | 0.1 |
| 63000 <sup>(3)</sup> | Bank of America Corp., MTN, 3.970%, 03/05/2029 | 62449 | 0.0 |
| 1520000 <sup>(1)</sup><sup>(3)</sup> | Bank of Montreal, 4.062%, 09/22/2028 | 1511832 | 0.4 |
| 126000 | Bank of Montreal, 5.300%, 06/05/2026 | 126320 | 0.0 |
| 186000 <sup>(3)</sup> | Bank of New York Mellon, 4.729%, 04/20/2029 | 187349 | 0.0 |
| 98000 <sup>(3)</sup> | Bank of New York Mellon Corp., 4.947%, 04/26/2027 | 98031 | 0.0 |
| 565000 <sup>(3)</sup> | Bank of Nova Scotia, 4.247%, 02/02/2030 | 560035 | 0.1 |
| 432000 <sup>(3)</sup> | Barclays PLC, 4.476%, 11/11/2029 | 429708 | 0.1 |
| 206000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 193121 | 0.1 |
| 329000 <sup>(2)</sup> | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 305199 | 0.1 |
| 315000 | Brown & Brown, Inc., 4.700%, 06/23/2028 | 315979 | 0.1 |
| 509000 <sup>(2)</sup><sup>(3)</sup> | CaixaBank SA, 4.634%, 07/03/2029 | 509941 | 0.1 |
| 550000 <sup>(2)</sup><sup>(3)</sup> | CaixaBank SA, 5.673%, 03/15/2030 | 565215 | 0.2 |
| 328000 <sup>(2)</sup><sup>(3)</sup> | CaixaBank SA, 6.684%, 09/13/2027 | 331085 | 0.1 |
| 50000 | Camden Property Trust, 3.150%, 07/01/2029 | 48000 | 0.0 |
| 62000 <sup>(3)</sup> | Canadian Imperial Bank of Commerce, 4.857%, 03/30/2029 | 62534 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 197000 <sup>(3)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | $193764 | 0.1 |
| 125000 <sup>(3)</sup> | Capital One Financial Corp., 5.468%, 02/01/2029 | 126929 | 0.0 |
| 185000 <sup>(3)</sup> | Capital One Financial Corp., 5.700%, 02/01/2030 | 189825 | 0.1 |
| 126000 | Charles Schwab Corp., 5.875%, 08/24/2026 | 126741 | 0.0 |
| 194000 <sup>(3)</sup> | Charles Schwab Corp., 6.196%, 11/17/2029 | 202814 | 0.1 |
| 85000 <sup>(3)</sup> | Citigroup, Inc., 2.572%, 06/03/2031 | 77938 | 0.0 |
| 16000 <sup>(3)</sup> | Citigroup, Inc., 4.786%, 03/04/2029 | 16086 | 0.0 |
| 452000 | CME Group, Inc., 4.400%, 03/15/2030 | 453556 | 0.1 |
| 192000 <sup>(2)</sup> | CNO Global Funding, 4.375%, 09/08/2028 | 190442 | 0.1 |
| 1072000 | Cooperatieve Rabobank UA, 4.800%, 01/09/2029 | 1089150 | 0.3 |
| 191000 | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 189317 | 0.1 |
| 128000 <sup>(2)</sup> | Corebridge Global Funding, 4.250%, 08/21/2028 | 127149 | 0.0 |
| 961000 <sup>(2)</sup><sup>(3)</sup> | Credit Agricole SA, 5.335%, 01/10/2030 | 978462 | 0.3 |
| 556000 <sup>(2)</sup><sup>(3)</sup> | Danske Bank A/S, 4.298%, 04/01/2028 | 555268 | 0.1 |
| 329000 <sup>(2)</sup><sup>(3)</sup> | Danske Bank A/S, 4.613%, 10/02/2030 | 328146 | 0.1 |
| 714000 <sup>(3)</sup> | Deutsche Bank AG/ New York NY, 2.311%, 11/16/2027 | 704340 | 0.2 |
| 487000 <sup>(2)</sup> | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 497709 | 0.1 |
| 460000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 1.948%, 10/21/2027 | 453761 | 0.1 |
| 985000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 4.148%, 01/21/2029 | 979190 | 0.3 |
| 295000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 4.516%, 01/21/2032 | 290590 | 0.1 |
| 130000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 134144 | 0.0 |
| 4000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 4185 | 0.0 |
| 869000 <sup>(3)</sup> | HSBC Holdings PLC, 4.899%, 03/03/2029 | 873990 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 736000 <sup>(3)</sup> | ING Groep NV, 4.017%, 03/28/2028 | $732708 | 0.2 |
| 309000 <sup>(3)</sup> | ING Groep NV, 6.083%, 09/11/2027 | 310942 | 0.1 |
| 272000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 268008 | 0.1 |
| 2170000 | Intercontinental Exchange, Inc., 3.950%, 12/01/2028 | 2151410 | 0.6 |
| 800000 <sup>(2)</sup> | Iron Mountain, Inc., 5.250%, 03/15/2028 | 796888 | 0.2 |
| 475000 <sup>(2)</sup> | Jackson National Life Global Funding, 4.550%, 09/09/2030 | 465695 | 0.1 |
| 197000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.470%, 09/22/2027 | 194319 | 0.1 |
| 519000 <sup>(3)</sup> | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 518169 | 0.1 |
| 80000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 76132 | 0.0 |
| 101000 <sup>(3)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 99744 | 0.0 |
| 130000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 127947 | 0.0 |
| 120000 <sup>(3)</sup> | JPMorgan Chase & Co., 3.702%, 05/06/2030 | 117060 | 0.0 |
| 45000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.452%, 12/05/2029 | 45062 | 0.0 |
| 314000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.505%, 10/22/2028 | 314018 | 0.1 |
| 125000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.603%, 10/22/2030 | 125290 | 0.0 |
| 190000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 192810 | 0.1 |
| 62000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 62876 | 0.0 |
| 126000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.040%, 01/23/2028 | 126655 | 0.0 |
| 246000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 249051 | 0.1 |
| 135000 <sup>(3)</sup> | JPMorgan Chase & Co., 5.581%, 04/22/2030 | 139159 | 0.0 |
| 123000 <sup>(3)</sup> | JPMorgan Chase & Co., 6.070%, 10/22/2027 | 124183 | 0.0 |
| 253000 | KeyBank NA/ Cleveland OH, 4.390%, 12/14/2027 | 253317 | 0.1 |
| 259000 <sup>(2)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 256031 | 0.1 |
| 707000 <sup>(3)</sup> | Lloyds Banking Group PLC, 3.574%, 11/07/2028 | 697561 | 0.2 |
| 127000 <sup>(2)</sup> | LPL Holdings, Inc., 4.625%, 11/15/2027 | 126122 | 0.0 |
| 232000 <sup>(2)</sup> | Lseg US Fin Corp., 4.875%, 03/28/2027 | 233124 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 806000 <sup>(2)</sup> | LSEGA Financing PLC, 1.375%, 04/06/2026 | $805682 | 0.2 |
| 500000 | Marsh & McLennan Cos., Inc., 4.550%, 11/08/2027 | 502487 | 0.1 |
| 618000 | Mastercard, Inc., 4.550%, 03/15/2028 | 623915 | 0.2 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | MF1 Multi-Family Housing Mortgage Loan Trust 2024-FL15 A, 5.368%, (TSFR1M + 1.688%), 08/18/2041 | 1504939 | 0.4 |
| 508000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 1.538%, 07/20/2027 | 503420 | 0.1 |
| 777000 <sup>(3)</sup> | Mitsubishi UFJ Financial Group, Inc., 5.197%, 01/16/2031 | 789926 | 0.2 |
| 421000 <sup>(3)</sup> | Mizuho Financial Group, Inc., 5.376%, 05/26/2030 | 430786 | 0.1 |
| 369000 <sup>(3)</sup> | Mizuho Financial Group, Inc., 5.382%, 07/10/2030 | 377528 | 0.1 |
| 325000 <sup>(3)</sup> | Morgan Stanley, 1.593%, 05/04/2027 | 324103 | 0.1 |
| 637000 <sup>(3)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | 627095 | 0.2 |
| 325000 <sup>(3)</sup> | Morgan Stanley, 4.238%, 01/09/2030 | 321788 | 0.1 |
| 454000 <sup>(3)</sup> | Morgan Stanley, 4.994%, 04/12/2029 | 458220 | 0.1 |
| 133000 <sup>(3)</sup> | Morgan Stanley, 5.042%, 07/19/2030 | 134565 | 0.0 |
| 17000 <sup>(3)</sup> | Morgan Stanley, 5.073%, 01/30/2037 | 16662 | 0.0 |
| 20000 <sup>(3)</sup> | Morgan Stanley, 5.173%, 01/16/2030 | 20285 | 0.0 |
| 435000 <sup>(3)</sup> | Morgan Stanley, 5.192%, 04/17/2031 | 441584 | 0.1 |
| 62000 <sup>(3)</sup> | Morgan Stanley, 5.230%, 01/15/2031 | 62967 | 0.0 |
| 16000 <sup>(3)</sup> | Morgan Stanley, 5.664%, 04/17/2036 | 16394 | 0.0 |
| 40000 <sup>(3)</sup> | Morgan Stanley, 6.296%, 10/18/2028 | 41057 | 0.0 |
| 525000 <sup>(3)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 520235 | 0.1 |
| 175000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 174408 | 0.0 |
| 105000 <sup>(3)</sup> | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 106226 | 0.0 |
| 586000 <sup>(3)</sup> | Morgan Stanley I, 4.133%, 10/18/2029 | 579321 | 0.2 |
| 250000 <sup>(3)</sup> | Morgan Stanley Private Bank NA, 4.465%, 11/19/2031 | 246180 | 0.1 |
| 250000 <sup>(2)</sup> | National Securities Clearing Corp., 4.700%, 05/20/2030 | 252529 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 806000 <sup>(2)</sup> | National Securities Clearing Corp., 5.000%, 05/30/2028 | $818292 | 0.2 |
| 532000 <sup>(2)</sup> | Nationwide Building Society, 1.500%, 10/13/2026 | 524295 | 0.1 |
| 419000 <sup>(3)</sup> | NatWest Group PLC, 5.583%, 03/01/2028 | 423199 | 0.1 |
| 395000 <sup>(2)</sup> | NatWest Markets PLC, 5.410%, 05/17/2029 | 405607 | 0.1 |
| 760000 | Navient Corp., 5.000%, 03/15/2027 | 743489 | 0.2 |
| 800000 | OneMain Finance Corp., 3.500%, 01/15/2027 | 785396 | 0.2 |
| 394000 <sup>(2)</sup> | Pacific Life Global Funding II, 1.375%, 04/14/2026 | 393627 | 0.1 |
| 180000 <sup>(2)</sup> | Pacific Life Global Funding II, 2.450%, 01/11/2032 | 159404 | 0.0 |
| 760000 <sup>(2)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 5.875%, 10/01/2028 | 757182 | 0.2 |
| 725000 <sup>(2)</sup> | PennyMac Financial Services, Inc., 4.250%, 02/15/2029 | 687599 | 0.2 |
| 565000 <sup>(3)</sup> | PNC Financial Services Group, Inc., 4.075%, 01/26/2029 | 562238 | 0.2 |
| 800000 <sup>(2)</sup> | PRA Group, Inc., 8.375%, 02/01/2028 | 806110 | 0.2 |
| 249000 <sup>(2)</sup> | Principal Life Global Funding II, 5.100%, 01/25/2029 | 253022 | 0.1 |
| 186000 | Prologis L.P., 4.875%, 06/15/2028 | 188279 | 0.0 |
| 148000 <sup>(2)</sup> | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 150876 | 0.0 |
| 192000 <sup>(2)</sup> | RGA Global Funding, 4.350%, 08/25/2028 | 191106 | 0.1 |
| 217000 <sup>(3)</sup> | Royal Bank of Canada, 4.498%, 08/06/2029 | 217048 | 0.1 |
| 257000 | Royal Bank of Canada, GMTN, 1.150%, 07/14/2026 | 254863 | 0.1 |
| 250000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.522%, 10/18/2028 | 250363 | 0.1 |
| 187000 <sup>(1)</sup><sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.715%, 03/27/2028 | 187728 | 0.0 |
| 332000 | Royal Bank of Canada, GMTN, 4.950%, 02/01/2029 | 337863 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Financial: (continued)** |  |  |
| 160000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | $162061 | 0.0 |
| 190000 | Royal Bank of Canada, GMTN, 5.200%, 07/20/2026 | 190612 | 0.1 |
| 294000 <sup>(2)</sup> | Skandinaviska Enskilda Banken AB, 4.375%, 06/02/2028 | 294732 | 0.1 |
| 799000 <sup>(3)</sup> | State Street Corp., 3.031%, 11/01/2034 | 752349 | 0.2 |
| 127000 <sup>(3)</sup> | State Street Corp., 4.530%, 02/20/2029 | 127743 | 0.0 |
| 253000 | State Street Corp., 4.536%, 02/28/2028 | 254820 | 0.1 |
| 199000 <sup>(3)</sup> | State Street Corp., 4.543%, 04/24/2028 | 199439 | 0.1 |
| 168000 | State Street Corp., 4.729%, 02/28/2030 | 170086 | 0.0 |
| 357000 | Sumitomo Mitsui Financial Group, Inc., 3.040%, 07/16/2029 | 339658 | 0.1 |
| 230000 | Sumitomo Mitsui Financial Group, Inc., 5.716%, 09/14/2028 | 236490 | 0.1 |
| 1000000 <sup>(2)</sup> | Sumitomo Mitsui Trust Bank Ltd., 5.200%, 03/07/2027 | 1009168 | 0.3 |
| 241000 <sup>(2)</sup> | Sumitomo Mitsui Trust Bank Ltd., 5.650%, 09/14/2026 | 242494 | 0.1 |
| 124000 | Toronto-Dominion Bank, GMTN, 4.980%, 04/05/2027 | 124937 | 0.0 |
| 859000 | Toronto-Dominion Bank, MTN, 5.532%, 07/17/2026 | 862703 | 0.2 |
| 260000 <sup>(3)</sup> | Truist Bank I, 4.144%, 01/27/2029 | 258695 | 0.1 |
| 136000 <sup>(3)</sup> | Truist Financial Corp., MTN, 1.887%, 06/07/2029 | 128739 | 0.0 |
| 421000 <sup>(3)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 430980 | 0.1 |
| 725000 <sup>(2)</sup><sup>(3)</sup> | UBS Group AG, 4.194%, 04/01/2031 | 709535 | 0.2 |
| 248000 <sup>(2)</sup><sup>(3)</sup> | UBS Group AG, 5.428%, 02/08/2030 | 253401 | 0.1 |
| 261000 <sup>(3)</sup> | US Bancorp, 5.046%, 02/12/2031 | 264874 | 0.1 |
| 762000 <sup>(2)</sup> | USAA Capital Corp., 4.375%, 06/01/2028 | 764412 | 0.2 |
| 153000 <sup>(3)</sup> | Wells Fargo & Co., 4.970%, 04/23/2029 | 154343 | 0.0 |
| 601000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 2.879%, 10/30/2030 | 567126 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Financial: (continued)** |  |  |  |
| 255000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.526%, 03/24/2028 | $| 252955 | 0.1 |
| 257000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 |  | 254617 | 0.1 |
| 123000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 5.574%, 07/25/2029 |  | 125839 | 0.0 |
| 574000 | Wells Fargo Bank NA, 5.450%, 08/07/2026 |  | 575959 | 0.2 |
| 664000 | Welltower OP LLC, 4.500%, 07/01/2030 |  | 664467 | 0.2 |
| 276000 <sup>(2)</sup> | Westpac New Zealand Ltd., 5.132%, 02/26/2027 |  | 278153 | 0.1 |
|  |  |  | **60302726** | **16.2** |
|  | **Industrial: 4.3%** | **Industrial: 4.3%** | **Industrial: 4.3%** | **Industrial: 4.3%** |
| 123000 | 3M Co., 4.800%, 03/15/2030 |  | 124362 | 0.0 |
| 601000 | AGCO Corp., 5.450%, 03/21/2027 |  | 605218 | 0.2 |
| 62000 | Amcor Flexibles North America, Inc., 4.800%, 03/17/2028 |  | 62412 | 0.0 |
| 123000 | Amcor Flexibles North America, Inc., 5.100%, 03/17/2030 |  | 124204 | 0.0 |
| 2170000 | Amphenol Corp., 3.900%, 11/15/2028 |  | 2154349 | 0.6 |
| 126000 | Amphenol Corp., 4.375%, 06/12/2028 |  | 126391 | 0.0 |
| 325000 <sup>(2)</sup> | BAE Systems PLC, 5.125%, 03/26/2029 |  | 331727 | 0.1 |
| 800000 <sup>(2)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 |  | 792479 | 0.2 |
| 435000 | Caterpillar Financial Services Corp., 4.400%, 03/03/2028 |  | 437311 | 0.1 |
| 186000 | Caterpillar Financial Services Corp., 4.800%, 01/08/2030 |  | 190365 | 0.1 |
| 755000 <sup>(2)</sup> | Clydesdale Acquisition Holdings, Inc., 6.625%, 04/15/2029 |  | 742073 | 0.2 |
| 307000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 |  | 310777 | 0.1 |
| 693000 | Eaton Corp., 3.950%, 03/06/2029 |  | 686260 | 0.2 |
| 800000 <sup>(1)</sup><sup>(2)</sup> | Energizer Holdings, Inc., 4.375%, 03/31/2029 |  | 761759 | 0.2 |
| 191000 | FedEx Corp., 3.250%, 04/01/2026 |  | 191000 | 0.1 |
| 308000 | GATX Corp., 5.400%, 03/15/2027 |  | 310322 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 400000 | GE Vernova, Inc., 4.250%, 02/04/2031 | $395630 | 0.1 |
| 62000 | HEICO Corp., 5.250%, 08/01/2028 | 63206 | 0.0 |
| 366000 <sup>(2)</sup> | Honeywell Aerospace, Inc., 4.000%, 03/16/2029 | 362677 | 0.1 |
| 445000 <sup>(2)</sup> | Honeywell Aerospace, Inc., 4.300%, 03/16/2031 | 440336 | 0.1 |
| 335000 | Howmet Aerospace, Inc., 3.900%, 04/15/2029 | 330336 | 0.1 |
| 725000 <sup>(2)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 705134 | 0.2 |
| 250000 | Ingersoll Rand, Inc., 5.197%, 06/15/2027 | 252255 | 0.1 |
| 61000 | JB Hunt Transport Services, Inc., 4.900%, 03/15/2030 | 61749 | 0.0 |
| 230000 | John Deere Capital Corp., 1.450%, 01/15/2031 | 202011 | 0.1 |
| 65000 | John Deere Capital Corp., MTN, 2.350%, 03/08/2027 | 63973 | 0.0 |
| 190000 | L3Harris Technologies, Inc., 4.400%, 06/15/2028 | 190182 | 0.1 |
| 64000 <sup>(1)</sup> | Lockheed Martin Corp., 4.150%, 08/15/2028 | 64059 | 0.0 |
| 556000 | Lockheed Martin Corp., 4.400%, 08/15/2030 | 556603 | 0.1 |
| 125000 <sup>(2)</sup> | Molex Electronic Technologies LLC, 4.750%, 04/30/2028 | 125551 | 0.0 |
| 229000 | Northrop Grumman Corp., 4.650%, 07/15/2030 | 230399 | 0.1 |
| 126000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 01/12/2027 | 126697 | 0.0 |
| 366000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 372351 | 0.1 |
| 305000 <sup>(2)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 6.050%, 08/01/2028 | 313933 | 0.1 |
| 271000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 274611 | 0.1 |
| 123000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 124991 | 0.0 |
| 182000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 186304 | 0.0 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Industrial: (continued)** |  |  |  |
| 101000 | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | $| 103888 | 0.0 |
| 800000 <sup>(2)</sup> | Smyrna Ready Mix Concrete LLC, 6.000%, 11/01/2028 |  | 794467 | 0.2 |
| 725000 <sup>(2)</sup> | Standard Industries, Inc., 4.750%, 01/15/2028 |  | 717204 | 0.2 |
| 120000 | Stanley Black & Decker, Inc., 6.000%, 03/06/2028 |  | 123759 | 0.0 |
| 730000 <sup>(2)</sup> | TransDigm, Inc., 6.375%, 03/01/2029 |  | 744536 | 0.2 |
| 248000 | Veralto Corp., 5.500%, 09/18/2026 |  | 249059 | 0.1 |
| 20000 | Waste Management, Inc., 1.500%, 03/15/2031 |  | 17387 | 0.0 |
|  |  |  | **16144297** | **4.3** |
|  | **Technology: 3.0%** | **Technology: 3.0%** | **Technology: 3.0%** | **Technology: 3.0%** |
| 312000 | Advanced Micro Devices, Inc., 4.319%, 03/24/2028 |  | 314070 | 0.1 |
| 126000 | Analog Devices, Inc., 4.250%, 06/15/2028 |  | 126219 | 0.0 |
| 731000 | Broadcom, Inc., 3.459%, 09/15/2026 |  | 729460 | 0.2 |
| 895000 <sup>(2)</sup> | Broadcom, Inc., 4.000%, 04/15/2029 |  | 886396 | 0.2 |
| 368000 | Broadcom, Inc., 4.800%, 04/15/2028 |  | 372240 | 0.1 |
| 125000 | Cadence Design Systems, Inc., 4.200%, 09/10/2027 |  | 124937 | 0.0 |
| 725000 <sup>(2)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 |  | 708003 | 0.2 |
| 1125000 | Dell International LLC / EMC Corp., 4.150%, 02/15/2029 |  | 1115873 | 0.3 |
| 355000 | Dell International LLC / EMC Corp., 4.500%, 02/15/2031 |  | 350938 | 0.1 |
| 248000 | Dell International LLC / EMC Corp., 4.750%, 04/01/2028 |  | 249837 | 0.1 |
| 332000 | Dell International LLC / EMC Corp., 5.000%, 04/01/2030 |  | 336101 | 0.1 |
| 124000 | Fiserv, Inc., 5.150%, 03/15/2027 |  | 124630 | 0.0 |
| 685000 | Fiserv, Inc., 5.450%, 03/02/2028 |  | 695058 | 0.2 |
| 656000 | Hewlett Packard Enterprise Co., 4.550%, 10/15/2029 |  | 652907 | 0.2 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 702000 | IBM International Capital Pte Ltd., 4.600%, 02/05/2029 | $| 706692 | 0.2 |
| 420000 | International Business Machines Corp., 4.000%, 02/03/2029 |  | 415844 | 0.1 |
| 633000 | Oracle Corp., 2.650%, 07/15/2026 |  | 629611 | 0.2 |
| 495000 | Oracle Corp., 4.550%, 02/04/2029 |  | 488842 | 0.1 |
| 251000 | Oracle Corp., 4.800%, 08/03/2028 |  | 251147 | 0.1 |
| 128000 | Roper Technologies, Inc., 4.250%, 09/15/2028 |  | 127217 | 0.0 |
| 704000 | Salesforce, Inc., 4.650%, 03/15/2029 |  | 705569 | 0.2 |
| 248000 | Synopsys, Inc., 4.650%, 04/01/2028 |  | 248990 | 0.1 |
| 157000 | Synopsys, Inc., 4.850%, 04/01/2030 |  | 158196 | 0.0 |
| 421000 | VMware, Inc., 1.400%, 08/15/2026 |  | 416618 | 0.1 |
| 290000 | Workday, Inc., 3.500%, 04/01/2027 |  | 287528 | 0.1 |
|  |  |  | **11222923** | **3.0** |
|  | **Utilities: 4.0%** | **Utilities: 4.0%** | **Utilities: 4.0%** | **Utilities: 4.0%** |
| 193000 | Alabama Power Co., 3.750%, 09/01/2027 |  | 191868 | 0.1 |
| 124000 | Ameren Corp., 5.700%, 12/01/2026 |  | 124914 | 0.0 |
| 446000 | Ameren Illinois Co., 3.800%, 05/15/2028 |  | 441908 | 0.1 |
| 637000 | American Electric Power Co., Inc., 5.200%, 01/15/2029 |  | 650190 | 0.2 |
| 187000 <sup>(2)</sup> | Capital Power US Holdings, Inc., 5.257%, 06/01/2028 |  | 188142 | 0.0 |
| 184000 | CenterPoint Energy Houston Electric LLC, 4.800%, 03/15/2030 |  | 186457 | 0.0 |
| 63000 | Connecticut Light and Power Co., 4.650%, 01/01/2029 |  | 63586 | 0.0 |
| 357000 | Consumers Energy Co., 4.500%, 01/15/2031 |  | 357768 | 0.1 |
| 62000 | Consumers Energy Co., 4.900%, 02/15/2029 |  | 63043 | 0.0 |
| 166000 | DTE Electric Co., 4.250%, 05/14/2027 |  | 166114 | 0.0 |
| 188000 | DTE Energy Co., 5.100%, 03/01/2029 |  | 191192 | 0.1 |
| 1355000 <sup>(2)</sup> | Enel Finance International NV, 4.125%, 09/30/2028 |  | 1344118 | 0.4 |
| 196000 | Eversource Energy, 2.900%, 03/01/2027 |  | 193516 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Utilities: (continued)** |  |  |
| 316000 | Eversource Energy, 4.750%, 05/15/2026 | $316181 | 0.1 |
| 142000 | Exelon Corp., 5.150%, 03/15/2029 | 144751 | 0.0 |
| 585000 | Georgia Power Co., 4.000%, 10/01/2028 | 581718 | 0.2 |
| 189000 | Georgia Power Co., 5.004%, 02/23/2027 | 190444 | 0.1 |
| 449000 <sup>(2)</sup> | Jersey Central Power & Light Co., 4.150%, 01/15/2029 | 446205 | 0.1 |
| 320000 <sup>(2)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 326538 | 0.1 |
| 188000 | National Rural Utilities Cooperative Finance Corp., 4.120%, 09/16/2027 | 187680 | 0.0 |
| 309000 | National Rural Utilities Cooperative Finance Corp., 5.150%, 06/15/2029 | 315695 | 0.1 |
| 156000 | National Rural Utilities Cooperative Finance Corp., MTN, 5.600%, 11/13/2026 | 157271 | 0.0 |
| 128000 | National Rural Utilities Cooperative Finance Corp. D, 4.150%, 08/25/2028 | 127605 | 0.0 |
| 184000 <sup>(2)</sup> | New York State Electric & Gas Corp., 5.650%, 08/15/2028 | 188840 | 0.1 |
| 132000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 129537 | 0.0 |
| 136000 | NextEra Energy Capital Holdings, Inc., 1.900%, 06/15/2028 | 128990 | 0.0 |
| 253000 | NextEra Energy Capital Holdings, Inc., 4.625%, 07/15/2027 | 253972 | 0.1 |
| 126000 | NextEra Energy Capital Holdings, Inc., 4.900%, 02/28/2028 | 127056 | 0.0 |
| 788000 | NextEra Energy Capital Holdings, Inc., 5.050%, 03/15/2030 | 802985 | 0.2 |
| 535000 <sup>(2)</sup> | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 481439 | 0.1 |
| 795000 <sup>(2)</sup> | NRG Energy, Inc., 3.375%, 02/15/2029 | 754060 | 0.2 |
| 632000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 645098 | 0.2 |
| 434596 | PG&E Wildfire Recovery Funding LLC A-1, 3.594%, 06/01/2032 | 426548 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Utilities: (continued)** |  |  |  |
| 310000 | Pinnacle West Capital Corp., 5.150%, 05/15/2030 | $| 314869 | 0.1 |
| 244000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 |  | 249460 | 0.1 |
| 220000 | Sempra Energy, 5.400%, 08/01/2026 |  | 220368 | 0.1 |
| 1252000 | Sierra Pacific Power Co., 2.600%, 05/01/2026 |  | 1250497 | 0.3 |
| 238000 | Southern Co., 5.500%, 03/15/2029 |  | 245267 | 0.1 |
| 283000 | Southern Co. Gas Capital Corp., 3.250%, 06/15/2026 |  | 282463 | 0.1 |
| 375000 | Southern Power Co. A, 4.250%, 10/01/2030 |  | 370314 | 0.1 |
| 570000 <sup>(2)</sup> | Vistra Operations Co. LLC, 5.050%, 12/30/2026 |  | 572022 | 0.2 |
| 204000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 |  | 192703 | 0.1 |
| 71000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 |  | 71785 | 0.0 |
|  |  |  | **14665177** | **4.0** |
|  | Total Corporate Bonds/ Notes |  |  |  |
|  | (Cost $176,775,086) |  | **177212571** | **47.6** |
| **ASSET-BACKED SECURITIES: 18.3%** | **ASSET-BACKED SECURITIES: 18.3%** | **ASSET-BACKED SECURITIES: 18.3%** | **ASSET-BACKED SECURITIES: 18.3%** | **ASSET-BACKED SECURITIES: 18.3%** |
|  | **Automobile Asset-Backed Securities: 5.8%** | **Automobile Asset-Backed Securities: 5.8%** | **Automobile Asset-Backed Securities: 5.8%** | **Automobile Asset-Backed Securities: 5.8%** |
| 1450000 <sup>(2)</sup> | American Heritage Auto Receivables Trust 2024-1A A3, 4.900%, 09/17/2029 |  | 1458003 | 0.4 |
| 83957 | Americredit Automobile Receivables Trust 2023-1 A3, 5.620%, 11/18/2027 |  | 84063 | 0.0 |
| 2850000 | BMW Vehicle Lease Trust 2024-1 A4, 5.000%, 06/25/2027 |  | 2858885 | 0.8 |
| 889914 <sup>(2)</sup> | Chase Auto Owner Trust 2023-AA A3, 5.680%, 01/25/2029 |  | 897693 | 0.3 |
| 700000 <sup>(2)</sup> | Corporate One Auto Receivables Trust 2026-1A A3, 4.150%, 03/15/2030 |  | 697130 | 0.2 |
| 507100 | Drive Auto Receivables Trust 2024-2 A3, 4.500%, 09/15/2028 |  | 507360 | 0.1 |
| 629104 | Exeter Automobile Receivables Trust 2025-4A A2, 4.530%, 03/15/2028 |  | 629591 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Value** | **Percentage <br> of Net <br> Assets** |
| **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)** |
| 1000000 | Exeter Automobile Receivables Trust 2025-4A A3, 4.390%, 09/17/2029 | $| 1001643 | 0.3 |
| 1187703 | Exeter Automobile Receivables Trust 2025-5A A2, 4.380%, 06/15/2028 |  | 1188383 | 0.3 |
| 1250000 <sup>(2)</sup> | First Investors Auto Owner Trust 2025-1A A2, 4.310%, 12/15/2028 |  | 1251334 | 0.3 |
| 1700000 <sup>(2)</sup> | GLS Auto Receivables Issuer Trust 2025-1A A3, 4.770%, 09/15/2028 |  | 1703189 | 0.5 |
| 400000 | GM Financial Consumer Automobile Receivables Trust 2022-4 B, 5.500%, 08/16/2028 |  | 402179 | 0.1 |
| 1750000 | GM Financial Consumer Automobile Receivables Trust 2023-3 A4, 5.340%, 12/18/2028 |  | 1771474 | 0.5 |
| 1050437 <sup>(2)</sup> | PenFed Auto Receivables Owner Trust 2024-A A3, 4.700%, 06/15/2029 |  | 1053571 | 0.3 |
| 1250000 <sup>(2)</sup> | Porsche Financial Auto Securitization Trust 2023-1A A4, 4.720%, 06/23/2031 |  | 1255088 | 0.3 |
| 1100000 <sup>(2)</sup> | Porsche Innovative Lease Owner Trust 2024-1A A4, 4.660%, 02/20/2030 |  | 1104815 | 0.3 |
| 768902 | Santander Drive Auto Receivables Trust 2024-4 A3, 4.850%, 01/16/2029 |  | 770343 | 0.2 |
| 843268 <sup>(2)</sup> | SCCU Auto Receivables Trust 2024-1A A3, 5.110%, 06/15/2029 |  | 847322 | 0.2 |
| 1063267 <sup>(2)</sup> | Tesla Auto Lease Trust 2024-B A3, 4.820%, 10/20/2027 |  | 1065365 | 0.3 |
| 750000 <sup>(2)</sup> | Westlake Automobile Receivables Trust 2026-1A A2A, 4.020%, 09/15/2028 |  | 749262 | 0.2 |
|  |  |  | **21296693** | **5.8** |
|  | **Other Asset-Backed Securities: 11.0%** | **Other Asset-Backed Securities: 11.0%** | **Other Asset-Backed Securities: 11.0%** | **Other Asset-Backed Securities: 11.0%** |
| 610352 <sup>(2)</sup><sup>(3)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 5.137%, (TSFR1M + 1.464%), 11/15/2036 |  | 610698 | 0.2 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | ARES LX CLO Ltd. 2021-60A AR2, 4.628%, (TSFR3M + 0.960%), 07/18/2034 |  | 1496778 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **ASSET-BACKED SECURITIES: (continued)** | **ASSET-BACKED SECURITIES: (continued)** |  |  |
|  | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** | **Other Asset-Backed Securities: (continued)** |
| 55484 <sup>(2)</sup><sup>(3)</sup> | Bain Capital Credit CLO 2018-2A A1R, 4.748%, (TSFR3M + 1.080%), 07/19/2031 | $55494 | 0 |
| 1370000 <sup>(2)</sup><sup>(3)</sup> | Bain Capital Credit CLO Ltd. 2020-5A ARR, 4.818%, (TSFR3M + 1.150%), 04/20/2034 | 1370342 | 0.4 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Ballyrock CLO 20 Ltd. 2022-20A A1A3, 4.722%, (TSFR3M + 1.050%), 10/15/2036 | 1997020 | 0.5 |
| 1500000 <sup>(2)</sup><sup>(3)</sup> | Ballyrock CLO 22 Ltd. 2024-22A A1A, 5.212%, (TSFR3M + 1.540%), 04/15/2037 | 1500683 | 0.4 |
| 1000000 <sup>(2)</sup><sup>(3)</sup> | Benefit Street Partners CLO XXI Ltd. 2020- 21A A1R2, 4.912%, (TSFR3M + 1.240%), 01/15/2039 | 999250 | 0.3 |
| 600000 <sup>(2)</sup><sup>(3)</sup> | Birch Grove CLO 10 Ltd. 2024-10A A, 5.059%, (TSFR3M + 1.390%), 01/22/2038 | 600002 | 0.2 |
| 2500000 <sup>(2)</sup><sup>(3)</sup> | BlueMountain CLO XXXII Ltd. 2021-32A AR, 4.772%, (TSFR3M + 1.100%), 10/15/2034 | 2499028 | 0.7 |
| 600000 <sup>(2)</sup><sup>(3)</sup> | Carlyle US CLO Ltd. 2017-3A A1R2, 5.070%, (TSFR3M + 1.400%), 10/21/2037 | 600517 | 0.2 |
| 1650000 <sup>(2)</sup><sup>(3)</sup> | CBAM Ltd. 2017-1A AR2, 5.058%, (TSFR3M + 1.390%), 01/20/2038 | 1652589 | 0.4 |
| 250000 <sup>(2)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2019-6A A2R, 5.371%, (TSFR3M + 1.700%), 07/16/2037 | 249005 | 0.1 |
| 1800000 <sup>(2)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2023-2A AR, 4.792%, (TSFR3M + 1.130%), 01/21/2037 | 1796569 | 0.5 |
| 1066504 <sup>(2)</sup> | DLLAA LLC 2023-1A A3, 5.640%, 02/22/2028 | 1075943 | 0.3 |
| 1450000 <sup>(2)</sup><sup>(3)</sup> | Empower CLO Ltd. 2022-1A A1R, 5.058%, (TSFR3M + 1.390%), 10/20/2037 | 1450039 | 0.4 |
| 1950000 <sup>(2)</sup><sup>(3)</sup> | Empower CLO Ltd. 2025-1A A, 4.978%, (TSFR3M + 1.310%), 07/20/2038 | 1948009 | 0.5 |
| 2000000 <sup>(2)</sup><sup>(3)</sup> | Galaxy XXII CLO Ltd. 2016-22A AR4, 4.683%, (TSFR3M + 1.020%), 04/16/2034 | 1997520 | 0.5 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1500000 <sup>(2)</sup> | GreatAmerica Leasing Receivables Funding LLC 2025-2 A2, 4.220%, 05/15/2028 | $1503484 | 0.4 |
| 900000 <sup>(2)(3)</sup> | ICG US CLO Ltd. 2014-1A A1A3, 4.673%, (TSFR3M + 1.000%), 10/20/2034 | 900261 | 0.2 |
| 1500000 <sup>(2)(3)</sup> | Invesco US CLO Ltd. 2023-1A AR2, 4.781%, (TSFR3M + 1.110%), 04/22/2037 | 1492629 | 0.4 |
| 1000000 | John Deere Owner Trust 2025 2025-A A4, 4.420%, 02/17/2032 | 1006354 | 0.3 |
| 700000 <sup>(2)</sup> | Kubota Credit Owner Trust 2025-2A A4, 4.570%, 11/15/2030 | 706444 | 0.2 |
| 800000 <sup>(2)(3)</sup> | LCM 39 Ltd./Jersey 39A A1R2, 4.703%, (TSFR3M + 1.040%), 10/15/2034 | 796947 | 0.2 |
| 1500000 <sup>(2)(3)</sup> | Magnetite XXXI Ltd. 2021-31A A1R, 4.672%, (TSFR3M + 1.000%), 07/15/2034 | 1496250 | 0.4 |
| 550000 <sup>(2)(3)</sup> | Neuberger Berman Loan Advisers Clo 51 Ltd. 2022-51A AR2, 4.668%, (TSFR3M + 1.000%), 10/23/2036 | 550118 | 0.1 |
| 1200000 <sup>(2)(3)</sup> | Oaktree CLO Ltd. 2022-2A A1R2, 5.042%, (TSFR3M + 1.370%), 10/15/2037 | 1196818 | 0.3 |
| 452441 <sup>(2)(3)</sup> | OZLM XV Ltd. 2016-15A A1R3, 4.718%, (TSFR3M + 1.050%), 04/20/2033 | 452708 | 0.1 |
| 1850000 <sup>(2)(3)</sup> | Palmer Square CLO Ltd. 2018-1A A1R, 5.188%, (TSFR3M + 1.520%), 04/18/2037 | 1850120 | 0.5 |
| 950000 <sup>(2)</sup> | PFS Financing Corp. 2023-C A, 5.520%, 10/15/2028 | 956941 | 0.3 |
| 750000 <sup>(2)(3)</sup> | Rad CLO 6 Ltd. 2019-6A A1R, 5.058%, (TSFR3M + 1.390%), 10/20/2037 | 750586 | 0.2 |
| 2100000 <sup>(2)</sup> | SoFi Consumer Loan Program Trust 2025-1 B, 5.120%, 02/27/2034 | 2119868 | 0.6 |
| 357103 <sup>(2)(3)</sup> | Sound Point CLO XXV Ltd. 2019-4A A1R, 4.948%, (TSFR3M + 1.280%), 04/25/2033 | 357043 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 75622 <sup>(2)(3)</sup> | TCI-Symphony CLO Ltd. 2017-1A AR, 4.864%, (TSFR3M + 1.192%), 07/15/2030 | $| 75651 | 0.0 |
| 511052 <sup>(2)(3)</sup> | Venture 37 CLO Ltd. 2019-37A A1RR, 4.922%, (TSFR3M + 1.250%), 07/15/2032 |  | 511289 | 0.1 |
| 500000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2024-1A A3, 4.290%, 10/16/2028 |  | 500853 | 0.1 |
| 500000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2024-1A A4, 4.290%, 07/15/2031 |  | 501023 | 0.1 |
| 1050000 <sup>(2)</sup> | Volvo Financial Equipment LLC Series 2025-1A A3, 4.460%, 05/15/2029 |  | 1055099 | 0.3 |
| 300000 <sup>(2)(3)</sup> | Wellman Park CLO Ltd. 2021-1A AR, 5.022%, (TSFR3M + 1.350%), 07/15/2037 |  | 300150 | 0.1 |
|  |  |  | **40980122** | **11.0** |
|  | **Student Loan Asset-Backed Securities: 1.5%** | **Student Loan Asset-Backed Securities: 1.5%** | **Student Loan Asset-Backed Securities: 1.5%** | **Student Loan Asset-Backed Securities: 1.5%** |
| 81676 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 |  | 79035 | 0.0 |
| 26822 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 |  | 25166 | 0.0 |
| 53229 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-A A, 0.840%, 05/15/2069 |  | 48771 | 0.0 |
| 913352 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-EA A, 0.970%, 12/16/2069 |  | 818173 | 0.2 |
| 225519 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2021-FA A, 1.110%, 02/18/2070 |  | 201299 | 0.1 |
| 1910870 <sup>(2)</sup> | Navient Private Education Refi Loan Trust 2023-A A, 5.510%, 10/15/2071 |  | 1934945 | 0.5 |
| 1425988 <sup>(2)</sup> | SMB Private Education Loan Trust 2025-A A1A, 5.130%, 04/15/2054 |  | 1437581 | 0.4 |
| 253669 <sup>(2)</sup> | SoFi Professional Loan Program Trust 2021-B AFX, 1.140%, 02/15/2047 |  | 227768 | 0.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 954015 <sup>(2)</sup> | Sofi Proffesional Loan Program Trust 2021-A AFX, 1.030%, 08/17/2043 | $| 849650 | 0.2 |
|  |  |  | **5622388** | **1.5** |
|  | Total Asset-Backed Securities<br> (Cost $67,880,727) |  | **67899203** | **18.3** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.0%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.0%** |
| 750000 <sup>(2)(3)</sup> | Arbor Realty Commercial Real Estate Notes LLC 2026-FL1 B, 5.670%, (TSFR1M + 2.000%), 09/20/2043 |  | 750703 | 0.2 |
| 1500000 <sup>(2)(3)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.423%, (TSFR1M + 1.750%), 06/15/2035 |  | 1496495 | 0.4 |
| 444890 <sup>(2)(3)</sup> | AREIT LLC 2023-CRE8 A, 5.790%, (TSFR1M + 2.112%), 08/17/2041 |  | 445449 | 0.1 |
| 1000000 <sup>(2)(3)</sup> | AREIT Ltd. 2025-CRE10 A, 5.066%, (TSFR1M + 1.388%), 12/17/2029 |  | 999967 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | ARES1 2024-IND2 A, 5.116%, (TSFR1M + 1.443%), 10/15/2034 |  | 1001161 | 0.3 |
| 500000 <sup>(2)</sup> | ARZ Trust 2024-BILT A, 5.772%, 06/11/2039 |  | 506426 | 0.1 |
| 1625000 <sup>(2)(3)</sup> | BAHA Trust 2024-MAR A, 5.574%, 12/10/2041 |  | 1660292 | 0.4 |
| 2289000 <sup>(2)(3)</sup> | BAR Issuer LLC 2026-FL1 A, 5.300%, (TSFR1M + 1.600%), 08/20/2043 |  | 2289523 | 0.6 |
| 1000000 <sup>(2)(3)</sup> | BAY Mortgage Trust 2025-LIVN A, 5.473%, (TSFR1M + 1.800%), 05/15/2035 |  | 996456 | 0.3 |
| 1250000 <sup>(3)</sup> | BMO Mortgage Trust 2024-5C6 B, 6.086%, 09/15/2057 |  | 1270795 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.064%, (TSFR1M + 1.386%), 01/17/2043 |  | 999715 | 0.3 |
| 747052 <sup>(2)(3)</sup> | BX Commercial Mortgage Trust 2021-ACNT B, 5.037%, (TSFR1M + 1.364%), 11/15/2038 |  | 746753 | 0.2 |
| 1000000 <sup>(2)(3)</sup> | BX Commercial Mortgage Trust 2026-ALOHA A, 5.050%, (TSFR1M + 1.350%), 04/15/2043 |  | 1001250 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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, 4.293%, (TSFR1M + 0.620%), 10/15/2036 | $999173 | 0.3 |
| 845329 <sup>(2)(3)</sup> | BX Trust 2021-RISE B, 5.037%, (TSFR1M + 1.364%), 11/15/2036 | 845260 | 0.2 |
| 778260 <sup>(2)(3)</sup> | BX Trust 2025-LUNR B, 5.523%, (TSFR1M + 1.850%), 06/15/2040 | 779123 | 0.2 |
| 1000000 <sup>(2)(3)</sup> | BX Trust 2025-OMG A, 5.023%, (TSFR1M + 1.350%), 10/15/2042 | 998917 | 0.3 |
| 500000 <sup>(2)(3)</sup> | BX Trust 2025-VOLT B, 5.773%, (TSFR1M + 2.100%), 12/15/2044 | 497393 | 0.1 |
| 1000000 <sup>(2)(3)</sup> | BX Trust 2026-RISE A, 4.970%, (TSFR1M + 1.300%), 04/15/2041 | 1001250 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | CIP Commercial Mortgage Trust 2025-SBAY A, 5.073%, (TSFR1M + 1.400%), 10/15/2037 | 1000800 | 0.3 |
| 500000 <sup>(2)(3)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 502186 | 0.1 |
| 500000 <sup>(2)(3)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 508641 | 0.1 |
| 1000000 <sup>(2)(3)</sup> | CSTL Commercial Mortgage Trust 2024-GATE B, 5.052%, 11/10/2041 | 999583 | 0.3 |
| 1375000 <sup>(2)</sup> | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 1402739 | 0.4 |
| 1500000 <sup>(2)</sup> | ELM Trust 2024-ELM B15, 5.596%, 06/10/2039 | 1504282 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | Extended Stay America Trust 2025-ESH B, 5.273%, (TSFR1M + 1.600%), 10/15/2042 | 1002826 | 0.3 |
| 495340 <sup>(2)(3)</sup> | Extended Stay America Trust 2026-ESH2 C, 5.273%, (TSFR1M + 1.600%), 02/15/2043 | 496941 | 0.1 |
| 1100000 <sup>(2)(3)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.062%, (TSFR1M + 1.385%), 08/19/2042 | 1100028 | 0.3 |
| 1500000 <sup>(2)(3)</sup> | FS Rialto Issuer LLC 2026-FL11 A, 5.115%, (TSFR1M + 1.450%), 01/19/2044 | 1501520 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | FS Trust 2026-HULA B, 5.328%, (TSFR1M + 1.650%), 03/15/2041 | 999951 | 0.3 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 42548 | Ginnie Mae 2017-100 AB, 2.300%, 04/16/2052 | $41139 | 0.0 |
| 18086 | Ginnie Mae 2017-86 AB, 2.300%, 11/16/2051 | 17849 | 0.0 |
| 1000000 <sup>(2)(3)</sup> | GSAT Trust 2025-BMF A, 5.173%, (TSFR1M + 1.500%), 07/15/2040 | 1000475 | 0.3 |
| 1000000 <sup>(2)</sup> | ICNQ Mortgage Trust 2024-MF A, 5.778%, 12/10/2034 | 1026786 | 0.3 |
| 1334000 <sup>(2)(3)</sup> | INTOWN Mortgage Trust 2025-STAY C, 5.923%, (TSFR1M + 2.250%), 03/15/2042 | 1334148 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | IP Mortgage Trust 2025-IP A, 5.250%, 06/10/2042 | 1008947 | 0.3 |
| 1734370 | JPMCC Commercial Mortgage Securities Trust 2019-COR4 AS, 4.290%, 03/10/2052 | 1651935 | 0.4 |
| 934375 <sup>(2)(3)</sup> | KRE Commercial Mortgage Trust 2025-AIP4 A, 4.973%, (TSFR1M + 1.300%), 03/15/2042 | 932036 | 0.2 |
| 1500000 <sup>(2)(3)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.063%, (TSFR1M + 1.385%), 08/17/2042 | 1500100 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | LoanCore Issuer LLC 2025-CRE9 A, 5.130%, (TSFR1M + 1.450%), 08/18/2042 | 1000937 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | MF1 LLC 2025-FL17 A, 5.000%, (TSFR1M + 1.320%), 02/18/2040 | 1000664 | 0.3 |
| 1750000 <sup>(2)(3)</sup> | NXPT Commercial Mortgage Trust 2024-STOR A, 4.312%, 11/05/2041 | 1722249 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | PCY Trust 2026-FCMT A, 5.153%, 04/05/2041 | 1005927 | 0.3 |
| 1000000 <sup>(2)(3)</sup> | PRM Trust 2025-PRM6 A, 4.480%, 07/05/2033 | 992769 | 0.3 |
| 1500000 <sup>(2)(3)</sup> | PRM5 Trust 2025-PRM5 A, 4.173%, 03/10/2033 | 1491477 | 0.4 |
| 1000000 <sup>(2)(3)</sup> | SMRT 2022-MINI F, 7.023%, (TSFR1M + 3.350%), 01/15/2039 | 976177 | 0.2 |
| 1583931 <sup>(2)</sup> | THPT Mortgage Trust 2023-THL A, 6.996%, 12/10/2034 | 1595748 | 0.4 |
| 1557000 | UBS Commercial Mortgage Trust 2019-C16 AS, 3.887%, 04/15/2052 | 1475672 | 0.4 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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>(2)(3)</sup> | WCORE Commercial Mortgage Trust 2024-CORE B, 5.514%, (TSFR1M + 1.842%), 11/15/2041 | $| 1001805 | 0.3 |
| 1085000 | Wells Fargo Commercial Mortgage Trust 2016-LC25 A4, 3.640%, 12/15/2059 |  | 1079782 | 0.3 |
|  | Total Commercial Mortgage-Backed Securities<br> (Cost $51,847,765) |  | **52162220** | **14.0** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 13.3%** |
| 897701 <sup>(2)(3)</sup> | Chase Home Lending Mortgage Trust Series 2025-12 A9B, 5.500%, 09/25/2056 |  | 891116 | 0.2 |
| 431070 <sup>(2)(3)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R01 1M2, 5.212%, (SOFR30A + 1.550%), 10/25/2041 |  | 431433 | 0.1 |
| 52110 | Fannie Mae Interest Strip 404 8, 3.000%, 05/25/2040 |  | 48067 | 0.0 |
| 80072 | Fannie Mae REMIC Trust 2013-114 NA, 3.000%, 08/25/2032 |  | 79517 | 0.0 |
| 353567 <sup>(3)</sup> | Fannie Mae REMIC Trust 2013-34 PF, 4.126%, (SOFR30A + 0.464%), 08/25/2042 |  | 351308 | 0.1 |
| 3020486 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-103 FH, 4.912%, (SOFR30A + 1.250%), 01/25/2055 |  | 3037993 | 0.8 |
| 658903 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-86 FA, 5.112%, (SOFR30A + 1.450%), 12/25/2054 |  | 665514 | 0.2 |
| 560225 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-88 DF, 4.912%, (SOFR30A + 1.250%), 12/25/2054 |  | 563657 | 0.2 |
| 2656274 <sup>(3)</sup> | Fannie Mae REMIC Trust 2024-88 FD, 4.862%, (SOFR30A + 1.200%), 12/25/2054 |  | 2678885 | 0.7 |
| 36495 | Freddie Mac REMIC Trust 2103 TE, 6.000%, 12/15/2028 |  | 37138 | 0.0 |
| 525905 <sup>(3)</sup> | Freddie Mac REMIC Trust 3049 XF, 4.137%, (SOFR30A + 0.464%), 05/15/2033 |  | 522757 | 0.1 |
| 2607757 <sup>(3)</sup> | Freddie Mac REMIC Trust 3114 PF, 4.187%, (SOFR30A + 0.514%), 02/15/2036 |  | 2590403 | 0.7 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 3706303 <sup>(3)</sup> | Freddie Mac REMIC Trust 3136 FA, 4.337%, (SOFR30A + 0.664%), 04/15/2036 | $3697694 | 1 |
| 754907 <sup>(3)</sup> | Freddie Mac REMIC Trust 3153 UF, 4.217%, (SOFR30A + 0.544%), 05/15/2036 | 750887 | 0.2 |
| 296064 <sup>(3)</sup> | Freddie Mac REMIC Trust 3255 FA, 4.067%, (SOFR30A + 0.394%), 12/15/2036 | 292556 | 0.1 |
| 17079 <sup>(3)</sup> | Freddie Mac REMIC Trust 3747 FA, 4.287%, (SOFR30A + 0.614%), 10/15/2040 | 16980 | 0 |
| 342108 <sup>(3)</sup> | Freddie Mac REMIC Trust 4879 DF, 4.187%, (SOFR30A + 0.514%), 08/15/2034 | 340069 | 0.1 |
| 2808860 <sup>(3)</sup> | Freddie Mac REMIC Trust 5472 FE, 5.012%, (SOFR30A + 1.350%), 11/25/2054 | 2831172 | 0.8 |
| 1175034 <sup>(3)</sup> | Freddie Mac REMIC Trust 5481 FA, 5.062%, (SOFR30A + 1.400%), 12/25/2054 | 1184566 | 0.3 |
| 1439169 <sup>(3)</sup> | Freddie Mac REMIC Trust 5483 FD, 4.962%, (SOFR30A + 1.300%), 12/25/2054 | 1448701 | 0.4 |
| 815531 <sup>(3)</sup> | Freddie Mac REMIC Trust 5499 FX, 5.062%, (SOFR30A + 1.400%), 02/25/2055 | 822338 | 0.2 |
| 762096 <sup>(3)</sup> | Freddie Mac REMIC Trust 5502 BF, 5.312%, (SOFR30A + 1.650%), 02/25/2055 | 772954 | 0.2 |
| 1889318 <sup>(3)</sup> | Freddie Mac REMIC Trust 5507 FG, 5.062%, (SOFR30A + 1.400%), 02/25/2055 | 1906706 | 0.5 |
| 3336065 <sup>(3)</sup> | Freddie Mac REMIC Trust 5583 FA, 4.912%, (SOFR30A + 1.250%), 10/25/2055 | 3356932 | 0.9 |
| 1252222 <sup>(3)</sup> | Freddie Mac REMIC Trust 5609 F, 4.712%, (SOFR30A + 1.050%), 12/25/2055 | 1250852 | 0.3 |
| 2827794 <sup>(3)</sup> | Freddie Mac Strips 406 F43, 4.462%, (SOFR30A + 0.800%), 10/25/2053 | 2832505 | 0.8 |
| 2384251 <sup>(3)</sup> | Freddie Mac Strips 406 F44, 4.662%, (SOFR30A + 1.000%), 10/25/2053 | 2402222 | 0.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 366738 <sup>(3)</sup> | Ginnie Mae 2010-H11 FA, 4.787%, (TSFR1M + 1.114%), 06/20/2060 | $369295 | 0.1 |
| 44031 <sup>(3)</sup> | Ginnie Mae 2011-H03 FA, 4.283%, (TSFR1M + 0.614%), 01/20/2061 | 44040 | 0 |
| 11945 <sup>(3)</sup> | Ginnie Mae 2011-H05 FA, 4.283%, (TSFR1M + 0.614%), 12/20/2060 | 11947 | 0 |
| 124182 <sup>(3)</sup> | Ginnie Mae 2011-H05 FB, 4.283%, (TSFR1M + 0.614%), 12/20/2060 | 124215 | 0 |
| 167456 <sup>(3)</sup> | Ginnie Mae 2011-H06 FA, 4.233%, (TSFR1M + 0.564%), 02/20/2061 | 167382 | 0 |
| 144530 <sup>(3)</sup> | Ginnie Mae 2011-H07 FA, 4.283%, (TSFR1M + 0.614%), 02/20/2061 | 144563 | 0 |
| 17126 <sup>(3)</sup> | Ginnie Mae 2011-H08 FD, 4.283%, (TSFR1M + 0.614%), 02/20/2061 | 17130 | 0 |
| 141249 <sup>(3)</sup> | Ginnie Mae 2011-H08 FG, 4.263%, (TSFR1M + 0.594%), 03/20/2061 | 141234 | 0 |
| 99368 <sup>(3)</sup> | Ginnie Mae 2011-H09 AF, 4.283%, (TSFR1M + 0.614%), 03/20/2061 | 99388 | 0 |
| 57340 <sup>(3)</sup> | Ginnie Mae 2012-H18 NA, 4.303%, (TSFR1M + 0.634%), 08/20/2062 | 57363 | 0 |
| 141239 <sup>(3)</sup> | Ginnie Mae 2012-H23 WA, 4.303%, (TSFR1M + 0.634%), 10/20/2062 | 141318 | 0 |
| 182614 | Ginnie Mae 2014-3 EP, 2.750%, 02/16/2043 | 176078 | 0.1 |
| 122751 <sup>(3)</sup> | Ginnie Mae 2014-53 JM, 6.934%, 04/20/2039 | 129484 | 0 |
| 744739 <sup>(3)</sup> | Ginnie Mae 2015-H32 FH, 4.443%, (TSFR1M + 0.774%), 12/20/2065 | 746555 | 0.2 |
| 665960 <sup>(3)</sup> | Ginnie Mae 2016-H16 FE, 5.161%, (TSFR12M + 1.095%), 06/20/2066 | 672384 | 0.2 |
| 310760 <sup>(3)</sup> | Ginnie Mae 2017-H06 FE, 4.333%, (TSFR1M + 0.664%), 02/20/2067 | 311022 | 0.1 |
| 211052 <sup>(3)</sup> | Ginnie Mae 2017-H07 FG, 4.243%, (TSFR1M + 0.574%), 02/20/2067 | 210971 | 0.1 |
| 818100 | Ginnie Mae 2023-86 DA, 5.500%, 08/20/2050 | 820942 | 0.2 |
| 443005 <sup>(3)</sup> | Ginnie Mae 2024-64 UF, 4.923%, (SOFR30A + 1.250%), 04/20/2054 | 445340 | 0.1 |
| 325555 <sup>(3)</sup> | Ginnie Mae 2025-89 FB, 5.123%, (SOFR30A + 1.450%), 05/20/2055 | 328735 | 0.1 |
| 651110 <sup>(3)</sup> | Ginnie Mae 2025-89 FG, 5.073%, (SOFR30A + 1.400%), 05/20/2055 | 656828 | 0.2 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 944855 <sup>(3)</sup> | Ginnie Mae 2025-9 FE, 4.923%, (SOFR30A + 1.250%), 01/20/2055 | $| 950490 | 0.3 |
| 831974 <sup>(2)(3)</sup> | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 |  | 688518 | 0.2 |
| 983654 <sup>(2)(3)</sup> | OBX Trust 2026-J1 AF, 5.012%, (SOFR30A + 1.350%), 02/25/2056 |  | 984173 | 0.3 |
| 517839 <sup>(2)(3)</sup> | PMT Loan Trust 2025-INV8 A2, 5.500%, 07/25/2056 |  | 518146 | 0.1 |
| 992016 <sup>(2)(3)</sup> | PMT Loan Trust 2026-J2 A19, 5.500%, 03/25/2057 |  | 983498 | 0.3 |
| 1009222 | Seasoned Credit Risk Transfer Trust Series 2018-2 MA, 3.500%, 11/25/2057 |  | 988131 | 0.3 |
| 991005 <sup>(2)(3)</sup> | Sequoia Mortgage Trust 2026-3 A19, 5.000%, 03/25/2056 |  | 968823 | 0.3 |
| 974683 <sup>(2)(3)</sup> | Sequoia Mortgage Trust 2026-INV1 A2, 4.500%, 01/25/2056 |  | 936378 | 0.3 |
| 994321 <sup>(2)(3)</sup> | SG Residential Mortgage Trust 2026-1 A1, 4.782%, 01/25/2066 |  | 985667 | 0.3 |
|  | Total Collateralized Mortgage Obligations<br> (Cost $49,364,235) |  | **49624960** | **13.3** |
| **U.S. TREASURY OBLIGATIONS: 2.9%** | **U.S. TREASURY OBLIGATIONS: 2.9%** | **U.S. TREASURY OBLIGATIONS: 2.9%** | **U.S. TREASURY OBLIGATIONS: 2.9%** | **U.S. TREASURY OBLIGATIONS: 2.9%** |
|  | **United States Treasury Notes: 2.9%** |  |  |  |
| 942200 | 3.500%, 03/15/2029 |  | 933919 | 0.3 |
| 7558800 | 3.875%, 03/31/2028 |  | 7570315 | 2.0 |
| 265000 | 3.875%, 03/31/2031 |  | 264161 | 0.1 |
| 21500 | 4.125%, 02/15/2036 |  | 21166 | 0.0 |
| 1767100 | 4.250%, 03/31/2033 |  | 1779387 | 0.5 |
|  |  |  | **10568948** | **2.9** |
|  | Total U.S. Treasury Obligations<br> (Cost $10,547,327) |  | **10568948** | **2.9** |
| **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%** | **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>** | **Federal Home Loan Mortgage Corporation: 0.1%<sup>(4)</sup>** |
| 9268 | 5.500%, 01/01/2037 |  | 9490 | 0.0 |
| 4725 | 5.500%, 10/01/2038 |  | 4825 | 0.0 |
| 77923 | 5.500%, 11/01/2038 |  | 80361 | 0.1 |
| 74269 | 5.500%, 02/01/2039 |  | 75975 | 0.0 |
|  |  |  | **170651** | **0.1** |
|  | **Uniform Mortgage-Backed Securities: 0.0%** | **Uniform Mortgage-Backed Securities: 0.0%** | **Uniform Mortgage-Backed Securities: 0.0%** | **Uniform Mortgage-Backed Securities: 0.0%** |
| 3 | 5.000%, 03/01/2027 |  | 3 | 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)** |
|  | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** | **Uniform Mortgage-Backed Securities (continued)** |
| 58070 | 5.000%, 05/01/2042 | $58716 | 0.0 |
|  |  | **58719** | **0.0** |
|  | Total U.S. Government Agency Obligations<br> (Cost $236,651) | **229370** | **0.1** |
|  | Total Long-Term Investments<br> (Cost $356,651,791) | **357697272** | **96.2** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 5.5%** | **SHORT-TERM INVESTMENTS: 5.5%** | **SHORT-TERM INVESTMENTS: 5.5%** | **SHORT-TERM INVESTMENTS: 5.5%** |
|  | **Commercial Paper: 4.1%** | **Commercial Paper: 4.1%** | **Commercial Paper: 4.1%** |
| 2000000 | American Honda Finance Corp., 4.220%, 06/22/2026 | 1980992 | 0.5 |
| 2000000 | Dominion Energy, Inc., 4.000%, 04/06/2026 | 1998684 | 0.6 |
| 4000000 | Eaton Corp., 4.030%, 04/07/2026 | 3996912 | 1.1 |
| 1500000 | Enterprise Products Operating LLC, 4.010%, 04/02/2026 | 1499670 | 0.4 |
| 3800000 | The Sherwin-Williams Co., 3.900%, 04/20/2026 | 3791906 | 1 |
| 2000000 | The Sherwin-Williams Co., 3.900%, 04/27/2026 | 1994242 | 0.5 |
|  | Total Commercial Paper <br> (Cost $15,264,062) | **15262406** | **4.1** |
|  | **Repurchase Agreements: 1.2%** |  |  |
| 1138770 <sup>(5)</sup> | Cantor Fitzgerald Securities, Repurchase Agreement dated 03/31/2026, 3.690%, due 04/01/2026 (Repurchase Amount $1,138,885, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-6.869%, Market Value plus accrued interest $1,161,545, due 11/30/27-10/20/75) | 1138770 | 0.3 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1138770 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $1,138,885, collateralized by various U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $1,161,545, due 05/12/27-02/20/66) | $1138770 | 0.3 |
| 577690 <sup>(5)</sup> | HSBC Securities (USA) Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $577,748, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.360%-6.500%, Market Value plus accrued interest $589,244, due 05/01/28-12/01/55) | 577690 | 0.2 |
| 292561 <sup>(5)</sup> | National Bank Financial Inc., Repurchase Agreement dated 03/31/2026, 3.710%, due 04/01/2026 (Repurchase Amount $292,591, collateralized by various U.S. Government Securities, 0.000%-4.625%, Market Value plus accrued interest $298,412, due 04/01/26) | 292561 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1138770 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $1,138,884, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,161,546, due 05/05/26-01/15/66) | $1138770 | 0.3 |
|  | Total Repurchase Agreements<br> (Cost $4,286,561) | **4286561** | **1.2** |
|  | **Time Deposits: 0.2%** |  |  |
| 110000 <sup>(5)</sup> | Canadian Imperial Bank of Commerce, 3.630%, 04/01/2026 | 110000 | 0.0 |
| 110000 <sup>(5)</sup> | Cooperatieve Rabobank UA, 3.620%, 04/01/2026 | 110000 | 0.0 |
| 110000 <sup>(5)</sup> | Landesbank Hessen Thueringen Girozentrale, 3.640%, 04/01/2026 | 110000 | 0.0 |
| 110000 <sup>(5)</sup> | Mizuho Bank Ltd., 3.640%, 04/01/2026 | 110000 | 0.1 |
| 110000 <sup>(5)</sup> | Royal Bank of Canada, 3.700%, 04/01/2026 | 110000 | 0.1 |
| 110000 <sup>(5)</sup> | Societe Generale S.A., 3.620%, 04/01/2026 | 110000 | 0.0 |
| 110000 <sup>(5)</sup> | Toronto-Dominion Bank, 3.640%, 04/01/2026 | 110000 | 0.0 |
|  | Total Time Deposits<br> (Cost $770,000) | **770000** | **0.2** |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage <br> of Net <br> Assets** |
|  | **Mutual Funds: 0.0%** |  |  |
| 166000 <sup>(6)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 3.570% <br> (Cost $166,000) | $**166000** | **0.0** |
|  | Total Short-Term Investments <br> (Cost $20,486,623) | $**20484967** | **5.5** |
|  | **Total Investments in Securities <br> (Cost $377,138,414)** | $**378182239** | **101.7** |
|  | **Liabilities in Excess of Other Assets** | **(6160413)** | **(1.7)** |
|  | **Net Assets** | $**372021826** | **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 March 31, 2026. |
| <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 March 31, 2026. |

---

---

| | |
|:---|:---|
| Reference Rate Abbreviations: | 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

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

**Fair Value Measurements^**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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> March 31, 2026** |
| **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** |
| **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** |
| Corporate Bonds/Notes | $— | $177212571 | $— | $177212571 |
| Asset-Backed Securities |  | 67899203 |  | 67899203 |
| Commercial Mortgage-Backed Securities |  | 52162220 |  | 52162220 |
| Collateralized Mortgage Obligations |  | 49624960 |  | 49624960 |
| U.S. Treasury Obligations |  | 10568948 |  | 10568948 |
| U.S. Government Agency Obligations |  | 229370 |  | 229370 |
| Short-Term Investments | 166000 | 20318967 |  | 20484967 |
| Total Investments, at fair value | $166000 | $378016239 | $— | $378182239 |
| **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** |
| Futures | 356830 |  |  | 356830 |
| Total Assets | $522830 | $378016239 | $— | $378539069 |
| **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** |
| **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** |
| Centrally Cleared Interest Rate Swaps | $— | $(52348) | $— | $(52348) |
| Futures | (1295908) |  |  | (1295908) |
| Written Options |  | (66915) |  | (66915) |
| Total Liabilities | $(1295908) | $(119263) | $— | $(1415171) |

---

---

| | |
|:---|:---|
| ^ | See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information. |
| + | 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 March 31, 2026, 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> | <u>Long Contracts:</u> | <u>Long Contracts:</u> | <u>Long Contracts:</u> | <u>Long Contracts:</u> |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 1122 | 06/30/26 | $232753641 | $(1295908) |
|  |  |  | $232753641 | $(1295908) |
| <u>Short Contracts:</u> | <u>Short Contracts:</u> | <u>Short Contracts:</u> | <u>Short Contracts:</u> | <u>Short Contracts:</u> |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | (230) | 06/30/26 | (24881328) | 228435 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (35) | 06/18/26 | (3886641) | 50649 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (24) | 06/18/26 | (2733000) | 46039 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (22) | 06/18/26 | (2497344) | 21869 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (3) | 06/18/26 | (349687) | 9838 |
|  |  |  | $(34348000) | $356830 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

At March 31, 2026, the following centrally cleared interest rate swaps were outstanding for Voya Short Duration Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br> Floating Rate** | **Floating Rate Index** | **Floating<br> Rate Index<br> Payment<br> Frequency** | **Fixed<br> Rate** | **Fixed Rate<br> Payment<br> Frequency** | **Maturity<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Fair<br> Value** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.489% | Annual | 02/02/27 | USD | 27000000 | $(52348) | $(52348) |
|  |  |  |  |  |  |  |  | $(52348) | $(52348) |

---

At March 31, 2026, 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> Fixed<br> Rate** | **Payment<br> Frequency** | **Expiration<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Premiums<br> Received** | **Fair<br> Value** |
| Put on 5-Year Credit Default Swap | Citibank N.A. | CDX North American Investment Grade Index Series, 45, Version 1 | 60.00% | 1.000% | Quarterly | 05/20/26 | USD | 19051000 | $35435 | $(47405) |
|  |  |  |  |  |  |  |  |  | $35435 | $(47405) |

---

At March 31, 2026, the following OTC written interest rate swaptions were outstanding for Voya Short Duration Bond Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Pay/Receive<br> Exercise<br> Rate** | **Exercise<br> Rate** | **Floating Rate<br> Index** | **Expiration<br> Date** | **Notional<br> Amount** | **Notional<br> Amount** | **Premiums<br> Received** | **Fair Value** |
| Put on 1-Year Interest Rate Swap(1) | BNP Paribas | Receive | 4.100% | 1-day USD-SOFR-OIS Compound | 06/24/26 | USD | 38100000 | $47625 | $(19510) |
|  |  |  |  |  |  |  |  | $47625 | $(19510) |

---

<sup>(1)</sup> Fund receives the exercise rate semi-annually and pays the floating rate index quarterly.

Currency Abbreviations:

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 March 31, 2026 was as follows:

---

| | | |
|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Location on Statement <br> of Assets and Liabilities** | **Fair Value** |
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| Interest rate contracts | Variation margin receivable on futures contracts\* | $356830 |
| **Total Asset Derivatives** |  | $356830 |
| **Liability Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| Interest rate contracts | Variation margin payable on futures contracts\* | $1295908 |
| Interest rate contracts | Variation margin payable on centrally cleared swaps\* | 52348 |
| Credit contracts | Written options, at fair value | 47405 |
| Interest rate contracts | Written options, at fair value | 19510 |
| **Total Liability Derivatives** |  | $1415171 |

---

\* 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 the net cumulative unrealized appreciation (depreciation) is included in total distributable earnings (loss).

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration Bond Fund as of March 31, 2026 (continued)

The effect of derivative instruments on the Fund's Statement of Operations for the year ended March 31, 2026 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 | $— | $(45382) | $375727 | $330345 |
| Interest rate contracts | 442889 |  |  | 442889 |
| **Total** | $442889 | $(45382) | $375727 | $773234 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $— | $— | $(10082) | $(10082) |
| Interest rate contracts | (1598445) | (52348) | 28116 | (1622677) |
| **Total** | $(1598445) | $(52348) | $18034 | $(1632759) |

---

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 March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
|  | **BNP Paribas** | **Citibank N.A.** | **Total** |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Written options | $19510 | $47405 | $66915 |
| **Total Liabilities** | $19510 | $47405 | $66915 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(19510) | $(47405) | $(66915) |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $— | $— | $– |
| **Net Exposure<sup>(1)</sup>** | $(19510) | $(47405) | $(66915) |

---

<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.

At March 31, 2026, 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 $376,146,658.

---

| | |
|:---|:---|
| Net unrealized appreciation consisted of: | Net unrealized appreciation consisted of: |
| Gross Unrealized Appreciation | $1866534 |
| Gross Unrealized Depreciation | (889294) |
| Net Unrealized Appreciation | $977240 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: 90.1%** | **CORPORATE BONDS/NOTES: 90.1%** | **CORPORATE BONDS/NOTES: 90.1%** | **CORPORATE BONDS/NOTES: 90.1%** |
|  | **Basic Materials: 0.8%** |  |  |
| 550000 <sup>(1)</sup> | Alumina Pty Ltd., 6.125%, 03/15/2030 | $561622 | 0.3 |
| 1000000 <sup>(1)</sup> | Novelis, Inc., 6.875%, 01/30/2030 | 1009451 | 0.5 |
|  |  | **1571073** | **0.8** |
|  | **Communications: 7.2%** |  |  |
| 1500000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 1488593 | 0.8 |
| 308000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 307855 | 0.1 |
| 1500000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 1498538 | 0.8 |
| 1000000 <sup>(1)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 10.000%, 02/15/2031 | 1021619 | 0.5 |
| 2250000 <sup>(1)</sup> | Gen Digital, Inc., 6.750%, 09/30/2027 | 2254122 | 1.1 |
| 1000000 <sup>(1)</sup> | ION Platform Finance US, Inc. / ION Platform Finance Sarl, 5.750%, 05/15/2028 | 951220 | 0.5 |
| 3250000 <sup>(1)</sup> | ION Platform Finance US, Inc. / ION Platform Finance Sarl, 9.500%, 05/30/2029 | 3062893 | 1.6 |
| 2000000 <sup>(1)</sup> | SV RNO Property Owner 1 LLC, 5.875%, 03/01/2031 | 1978175 | 1 |
| 1500000 <sup>(1)</sup> | Univision Communications, Inc., 8.000%, 08/15/2028 | 1523328 | 0.8 |
|  |  | **14086343** | **7.2** |
|  | **Consumer, Cyclical: 23.0%** |  |  |
| 750000 <sup>(1)</sup> | Cyprium Corp. / Cyprium Holdings Luxembourg Sarl, 6.125%, 04/15/2031 | 741238 | 0.4 |
| 1000000 <sup>(1)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 1070467 | 0.5 |
| 2000000 | Ford Motor Credit Co. LLC, 5.875%, 11/07/2029 | 2025713 | 1 |
| 3500000 <sup>(1)</sup> | Gates Corp., 6.875%, 07/01/2029 | 3595511 | 1.8 |
| 3950000 <sup>(1)</sup> | Global Auto Holdings Ltd./AAG FH UK Ltd., 11.500%, 08/15/2029 | 3933284 | 2 |
| 1500000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 1468049 | 0.8 |
| 1500000 <sup>(1)</sup> | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 1511059 | 0.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 3750000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 04/01/2029 | $3788569 | 1.9 |
| 3000000 <sup>(1)(2)</sup> | JetBlue Airways Corp. / JetBlue Loyalty L.P., 9.875%, 09/20/2031 | 2839255 | 1.5 |
| 1000000 <sup>(1)</sup> | Lithia Motors, Inc., 5.500%, 10/01/2030 | 980460 | 0.5 |
| 2000000 | MGM Resorts International, 5.500%, 04/15/2027 | 2005108 | 1 |
| 3118000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 3121544 | 1.6 |
| 1200000 <sup>(1)</sup> | OneSky Flight LLC, 8.875%, 12/15/2029 | 1239570 | 0.6 |
| 2000000 <sup>(1)</sup> | RB Global Holdings, Inc., 6.750%, 03/15/2028 | 2027244 | 1 |
| 1000000 <sup>(1)</sup> | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp., 6.250%, 10/15/2030 | 998061 | 0.5 |
| 2250000 <sup>(1)</sup> | Specialty Building Products Holdings LLC / SBP Finance Corp., 7.750%, 10/15/2029 | 1955556 | 1 |
| 1000000 | United Airlines Holdings, Inc., 5.375%, 03/01/2031 | 980567 | 0.5 |
| 2500000 <sup>(1)</sup> | Vail Resorts, Inc., 5.625%, 07/15/2030 | 2480469 | 1.3 |
| 3833000 <sup>(1)(2)</sup> | Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/2029 | 3981234 | 2 |
| 750000 <sup>(1)</sup> | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 7.875%, 05/01/2027 | 740979 | 0.4 |
| 3750000 <sup>(1)(2)</sup> | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/2028 | 3666702 | 1.9 |
|  |  | **45150639** | **23.0** |
|  | **Consumer, Non-cyclical: 15.9%** |  |  |
| 400000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.500%, 03/31/2031 | 395969 | 0.2 |
| 4412000 <sup>(1)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | 4512492 | 2.3 |
| 500000 <sup>(1)</sup> | Block, Inc., 5.625%, 08/15/2030 | 497520 | 0.2 |
| 2500000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 2540402 | 1.3 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1250000 <sup>(1)</sup> | Herc Holdings, Inc., 5.750%, 03/15/2031 | $1232209 | 0.6 |
| 1000000 <sup>(1)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 1026084 | 0.5 |
| 1000000 <sup>(1)</sup> | IQVIA, Inc., 5.000%, 10/15/2026 | 1001373 | 0.5 |
| 2500000 <sup>(1)</sup> | IQVIA, Inc., 5.000%, 05/15/2027 | 2492011 | 1.3 |
| 2950000 <sup>(1)</sup> | Mobius Merger Sub, Inc., 9.000%, 06/01/2030 | 2082780 | 1.1 |
| 1500000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 1511628 | 0.8 |
| 2000000 | Tenet Healthcare Corp., 6.750%, 05/15/2031 | 2045456 | 1 |
| 4000000 <sup>(1)</sup> | United Rentals North America, Inc., 6.000%, 12/15/2029 | 4069424 | 2.1 |
| 3000000 <sup>(1)</sup> | US Foods, Inc., 6.875%, 09/15/2028 | 3069918 | 1.6 |
| 2500000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 06/15/2029 | 2530048 | 1.3 |
| 2100000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 2134837 | 1.1 |
|  |  | **31142151** | **15.9** |
|  | **Energy: 7.0%** |  |  |
| 700000 <sup>(1)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 01/15/2028 | 700392 | 0.4 |
| 600000 <sup>(1)</sup> | CITGO Petroleum Corp., 8.375%, 01/15/2029 | 619962 | 0.3 |
| 2000000 <sup>(1)</sup> | CVR Energy, Inc., 7.500%, 02/15/2031 | 2016634 | 1 |
| 2000000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 2006070 | 1 |
| 1500000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 1552888 | 0.8 |
| 3750000 | Global Partners L.P. / GLP Finance Corp., 6.875%, 01/15/2029 | 3755066 | 1.9 |
| 3064000 <sup>(1)</sup> | Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/2028 | 3136206 | 1.6 |
|  |  | **13787218** | **7.0** |
|  | **Financial: 18.4%** |  |  |
| 3000000 <sup>(1)</sup> | CrossCountry Intermediate HoldCo LLC, 6.500%, 10/01/2030 | 2863166 | 1.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1250000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 6.875%, 05/01/2031 | $1169854 | 0.6 |
| 2750000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 9.250%, 02/01/2029 | 2789311 | 1.4 |
| 1500000 <sup>(1)(2)</sup> | HAT Holdings I LLC / HAT Holdings II LLC, 3.750%, 09/15/2030 | 1381410 | 0.7 |
| 4250000 <sup>(1)</sup> | HUB International Ltd., 7.250%, 06/15/2030 | 4356161 | 2.2 |
| 250000 <sup>(1)</sup> | Iron Mountain, Inc., 7.000%, 02/15/2029 | 254970 | 0.1 |
| 3400000 <sup>(1)</sup> | LD Holdings Group LLC, 8.750%, 11/01/2027 | 3203291 | 1.6 |
| 500000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.125%, 11/15/2030 | 497262 | 0.3 |
| 4500000 <sup>(1)</sup> | Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/2029 | 4624142 | 2.4 |
| 1250000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 1277013 | 0.6 |
| 2250000 <sup>(1)</sup> | Rocket Cos., Inc., 6.125%, 08/01/2030 | 2272156 | 1.2 |
| 1000000 <sup>(1)</sup> | Rocket Cos., Inc., 6.500%, 08/01/2029 | 1012505 | 0.5 |
| 1500000 | SLM Corp., 6.500%, 01/31/2030 | 1473537 | 0.8 |
| 2500000 <sup>(1)</sup> | Stonebriar ABF Issuer LLC, 8.125%, 12/15/2030 | 2585768 | 1.3 |
| 1000000 <sup>(1)</sup> | TrueNoord Capital DAC, 8.750%, 03/01/2030 | 1021796 | 0.5 |
| 1000000 <sup>(1)</sup> | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | 985160 | 0.5 |
| 1500000 <sup>(1)</sup> | UWM Holdings LLC, 6.625%, 02/01/2030 | 1416100 | 0.7 |
| 3000000 <sup>(1)</sup> | XHR L.P., 6.625%, 05/15/2030 | 3032565 | 1.5 |
|  |  | **36216167** | **18.4** |
|  | **Industrial: 9.9%** |  |  |
| 3500000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 3564740 | 1.8 |
| 1900000 <sup>(1)</sup> | Axon Enterprise, Inc., 6.125%, 03/15/2030 | 1936187 | 1 |
| 500000 <sup>(1)</sup> | Esab Corp., 5.625%, 04/01/2031 | 504755 | 0.2 |
| 4064000 <sup>(1)</sup> | Esab Corp., 6.250%, 04/15/2029 | 4129630 | 2.1 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |  |  |
| 1750000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | $| 1750869 | 0.9 |
| 4100000 <sup>(1)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 |  | 4153938 | 2.1 |
| 1000000 <sup>(1)</sup> | WESCO Distribution, Inc., 5.250%, 04/15/2031 |  | 996531 | 0.5 |
| 2500000 <sup>(1)</sup> | WESCO Distribution, Inc., 7.250%, 06/15/2028 |  | 2515371 | 1.3 |
|  |  |  | **19552021** | **9.9** |
|  | **Technology: 1.1%** |  |  |  |
| 2200000 <sup>(1)</sup> | Consensus Cloud Solutions, Inc., 6.500%, 10/15/2028 |  | 2181224 | 1.1 |
|  | **Utilities: 6.8%** |  |  |  |
| 3700000 <sup>(1)</sup> | AmeriGas Partners L.P. / AmeriGas Finance Corp., 9.375%, 06/01/2028 |  | 3800755 | 1.9 |
| 500000 <sup>(1)</sup> | AmeriGas Partners L.P. / AmeriGas Finance Corp., 9.500%, 06/01/2030 |  | 531724 | 0.3 |
| 4250000 <sup>(1)</sup> | ContourGlobal Power Holdings SA, 6.750%, 02/28/2030 |  | 4303082 | 2.2 |
| 4750000 | NRG Energy, Inc., 5.750%, 01/15/2028 |  | 4761418 | 2.4 |
|  |  |  | **13396979** | **6.8** |
|  | Total Corporate Bonds/ Notes<br> (Cost $178,635,931) |  | **177083815** | **90.1** |
| **BANK LOANS: 4.6%** | **BANK LOANS: 4.6%** | **BANK LOANS: 4.6%** | **BANK LOANS: 4.6%** | **BANK LOANS: 4.6%** |
|  | **Communications: 2.1%** |  |  |  |
| 765934 | Directv Financing LLC, Term Loan, 9.167%, (TSFR3M+5.500%), 02/17/2031 |  | 767729 | 0.4 |
| 3959698 <sup>(3)</sup> | Summer (BC), Tranche B, 02/21/2029 |  | 3385542 | 1.7 |
|  |  |  | **4153271** | **2.1** |
|  | **Financial: 1.0%** |  |  |  |
| 1962617 | Asurion LLC, 2021 Second Lien Term Loan B4, 9.032%, (TSFR1M+5.250%), 01/20/2029 |  | 1951332 | 1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: 1.5%** |  |  |
| 2947519 | Quikrete Holdings Inc., 2025 Term Loan B, 5.918%, (TSFR1M+2.250%), 02/10/2032 | $2944857 | 1.5 |
|  | Total Bank Loans<br> (Cost $9,504,228) | **9049460** | **4.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **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%** |
| 30272 <sup>(4)</sup> | Yak Access LLC Series A | 303 | 0.0 |
| 5388 <sup>(4)</sup> | Yak Access LLC Series B | 54 | 0.0 |
|  |  | **357** | **0.0** |
|  | **Consumer Discretionary: 0.0%** |  |  |
| 42856 <sup>(4)</sup> | Anchor Hocking Holdings | 428 | 0.0 |
| 188 <sup>(4)</sup> | Travelport Tech Ltd. |  |  |
|  |  | **428** | **0.0** |
|  | Total Common Stock<br> (Cost $771,736) | **785** | **0.0** |
|  | Total Long-Term Investments<br> (Cost $188,911,895) | **186134060** | **94.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 7.7%** | **SHORT-TERM INVESTMENTS: 7.7%** | **SHORT-TERM INVESTMENTS: 7.7%** | **SHORT-TERM INVESTMENTS: 7.7%** |
|  | **Repurchase Agreements: 3.4%** |  |  |
| 1655532 <sup>(5)</sup> | Cantor Fitzgerald Securities, Repurchase Agreement dated 03/31/2026, 3.690%, due 04/01/2026 (Repurchase Amount $1,655,699, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%-6.869%, Market Value plus accrued interest $1,688,643, due 11/30/27-10/20/75) | 1655532 | 0.9 |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 73894 <sup>(5)</sup> | Citigroup Global Markets Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $73,901, collateralized by various U.S. Government Securities, 4.250%, Market Value plus accrued interest $75,372, due 05/15/35) | $73894 | 0 |
| 1926234 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $1,926,428, collateralized by various U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $1,964,759, due 05/12/27-02/20/66) | 1926234 | 1 |
| 22757 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $22,759, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $23,212, due 05/07/26-05/15/55) | 22757 | 0 |
| 1050126 <sup>(5)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.680%, due 04/01/2026 (Repurchase Amount $1,050,232, collateralized by various U.S. Government Securities, 0.000%-3.875%, Market Value plus accrued interest $1,071,129, due 06/25/26-02/15/43) | 1050126 | 0.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **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)** |
| 1926234 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $1,926,427, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,964,759, due 05/05/26-01/15/66) | $1926234 | 1 |
|  | Total Repurchase Agreements<br> (Cost $6,654,777) | **6654777** | **3.4** |
|  | **Time Deposits: 0.8%** |  |  |
| 190000 <sup>(5)</sup> | Canadian Imperial Bank of Commerce, 3.630%, 04/01/2026 | 190000 | 0.1 |
| 190000 <sup>(5)</sup> | Cooperatieve Rabobank UA, 3.620%, 04/01/2026 | 190000 | 0.1 |
| 140000 <sup>(5)</sup> | DZ Bank AG, 3.610%, 04/01/2026 | 140000 | 0.1 |
| 190000 <sup>(5)</sup> | Landesbank Hessen Thueringen Girozentrale, 3.640%, 04/01/2026 | 190000 | 0.1 |
| 200000 <sup>(5)</sup> | Mizuho Bank Ltd., 3.640%, 04/01/2026 | 200000 | 0.1 |
| 200000 <sup>(5)</sup> | Royal Bank of Canada, 3.700%, 04/01/2026 | 200000 | 0.1 |
| 190000 <sup>(5)</sup> | Societe Generale S.A., 3.620%, 04/01/2026 | 190000 | 0.1 |
| 200000 <sup>(5)</sup> | Toronto-Dominion Bank, 3.640%, 04/01/2026 | 200000 | 0.1 |
|  | Total Time Deposits<br> (Cost $1,500,000) | **1500000** | **0.8** |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage <br> of Net <br> Assets** |
|  | **Mutual Funds: 3.5%** |  |  |
| 6895178 <sup>(6)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 3.550% <br> (Cost $6,895,178) | $**6895178** | **3.5** |
|  | Total Short-Term Investments<br> (Cost $15,049,955) | $**15049955** | **7.7** |
|  | **Total Investments in Securities<br> (Cost $203,961,850)**  | $**201184015** | **102.4** |
|  | **Liabilities in Excess of Other Assets** | **(4800928)** | **(2.4)** |
|  | **Net Assets** | $**196383087** | **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> | 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 March 31, 2026. |

---

---

| | |
|:---|:---|
| Reference Rate Abbreviations: | Reference Rate Abbreviations: |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |

---

See Accompanying Notes to Financial Statements

PORTFOLIO OF INVESTMENTS <br> Voya Short Duration High Income Fund as of March 31, 2026 (continued)

**Fair Value Measurements^** 

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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> March 31, 2026** |
| **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** |
| **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** |
| Common Stock | Common Stock | Common Stock | Common Stock | Common Stock |
| &nbsp;&nbsp;&nbsp;Business Equipment & Services | $— | $— | $357 | $357 |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary |  |  | 428 | 428 |
| Total Common Stock |  |  | 785 | 785 |
| Corporate Bonds/Notes |  | 177083815 |  | 177083815 |
| Bank Loans |  | 9049460 |  | 9049460 |
| Short-Term Investments | 6895178 | 8154777 |  | 15049955 |
| Total Investments, at fair value | $6895178 | $194288052 | $785 | $201184015 |

---

At March 31, 2026, 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 $204,234,180. | Cost for U.S. federal income tax purposes was $204,234,180. |
| Net unrealized depreciation consisted of: | Net unrealized depreciation consisted of: |
| Gross Unrealized Appreciation | $746628 |
| Gross Unrealized Depreciation | (3796793) |
| Net Unrealized Depreciation | $(3050165) |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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: 1.9%** |  |  |
| 1500000 | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | $1435305 | 0.1 |
| 405000 <sup>(1)</sup> | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 424022 | 0.0 |
| 150000 <sup>(1)</sup> | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 142035 | 0.0 |
| 2505000 <sup>(1)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 2490832 | 0.1 |
| 1120000 <sup>(2)</sup> | Celanese US Holdings LLC, 6.750%, 04/15/2033 | 1149784 | 0.1 |
| 3075000 <sup>(2)</sup> | Celanese US Holdings LLC, 6.850%, 11/15/2028 | 3199646 | 0.2 |
| 2622000 <sup>(1)</sup> | Chemours Co., 5.750%, 11/15/2028 | 2598178 | 0.1 |
| 2340000 <sup>(1)</sup> | Chemours Co., 7.875%, 03/15/2034 | 2341636 | 0.1 |
| 770000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 735390 | 0.0 |
| 3075000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 6.875%, 11/01/2029 | 3076801 | 0.2 |
| 725000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 708990 | 0.0 |
| 325000 <sup>(1)</sup> | Commercial Metals Co., 5.750%, 11/15/2033 | 321887 | 0.0 |
| 415000 <sup>(1)</sup> | Commercial Metals Co., 6.000%, 12/15/2035 | 409553 | 0.0 |
| 590000 <sup>(1)</sup> | Constellium SE, 5.625%, 06/15/2028 | 587445 | 0.0 |
| 1075000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 1103348 | 0.1 |
| 3175000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 | 3310350 | 0.2 |
| 625000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 659719 | 0.0 |
| 1328000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 | 1392036 | 0.1 |
| 1704000 | Ecolab, Inc., 4.300%, 06/15/2028 | 1708488 | 0.1 |
| 1025000 <sup>(1)</sup><sup>(3)</sup> | GC Treasury Center Co. Ltd., 7.125%, 12/31/2199 | 997300 | 0.0 |
| 1750000 <sup>(1)</sup><sup>(3)</sup> | Inversiones CMPC SA, 6.700%, 12/09/2057 | 1713250 | 0.1 |
| 1025000 <sup>(1)</sup> | New Gold, Inc., 6.875%, 04/01/2032 | 1060186 | 0.1 |
| 405000 <sup>(1)</sup> | Novelis Corp., 3.875%, 08/15/2031 | 361126 | 0.0 |
| 170000 <sup>(1)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 160756 | 0.0 |
| 700000 <sup>(1)</sup> | OCP SA, 6.700%, 03/01/2036 | 722750 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 975000 <sup>(1)</sup> | OCP SA, 6.750%, 05/02/2034 | $1018246 | 0.1 |
| 315000 <sup>(2)</sup> | Olin Corp., 5.000%, 02/01/2030 | 301950 | 0.0 |
| 2250000 <sup>(1)</sup> | Sasol Financing USA LLC, 8.750%, 04/10/2033 | 2250000 | 0.1 |
| 1900000 <sup>(1)</sup><sup>(3)</sup> | Sociedad Quimica y Minera de Chile SA, 5.625%, 04/22/2056 | 1857725 | 0.1 |
|  |  | **38238734** | **1.9** |
|  | **Communications: 2.5%** |  |  |
| 540000 <sup>(1)</sup> | Arches Buyer, Inc., 6.125%, 12/01/2028 | 517608 | 0.0 |
| 120000 <sup>(1)</sup><sup>(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.250%, 01/15/2034 | 102771 | 0.0 |
| 1180000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 1103416 | 0.1 |
| 1110000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 992546 | 0.1 |
| 675000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 669867 | 0.0 |
| 212000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 211900 | 0.0 |
| 3075000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.375%, 06/01/2029 | 3034634 | 0.2 |
| 1025000 <sup>(2)</sup> | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.700%, 12/01/2055 | 980286 | 0.1 |
| 635000 <sup>(1)</sup> | Cipher Compute LLC, 7.125%, 11/15/2030 | 658672 | 0.0 |
| 3140000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | 3136939 | 0.2 |
| 3346000 <sup>(1)</sup> | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 | 3344532 | 0.2 |
| 455000 <sup>(1)</sup> | GCI LLC, 4.750%, 10/15/2028 | 440697 | 0.0 |
| 725000 <sup>(1)</sup> | Gen Digital, Inc., 6.250%, 04/01/2033 | 705357 | 0.0 |
| 475000 <sup>(1)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 475412 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1500000 | Lamar Media Corp., 4.000%, 02/15/2030 | $1432490 | 0.1 |
| 1200000 <sup>(1)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 1222933 | 0.1 |
| 810000 <sup>(1)</sup> | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 792395 | 0.0 |
| 3075000 <sup>(1)</sup><sup>(2)</sup> | Match Group Holdings II LLC, 5.625%, 02/15/2029 | 3038967 | 0.2 |
| 3075000 <sup>(1)</sup> | McGraw-Hill Education, Inc., 5.750%, 08/01/2028 | 3042769 | 0.2 |
| 5515000 <sup>(1)</sup><sup>(2)</sup> | Nexstar Media, Inc., 4.750%, 11/01/2028 | 5426846 | 0.3 |
| 2784000 | Omnicom Group, Inc., 4.200%, 03/02/2029 | 2754969 | 0.1 |
| 3075000 <sup>(1)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.250%, 01/15/2029 | 2966700 | 0.1 |
| 455000 <sup>(1)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 439269 | 0.0 |
| 675000 | Paramount Global, 6.875%, 04/30/2036 | 592459 | 0.0 |
| 500000 | Paramount Global, 7.875%, 07/30/2030 | 522174 | 0.0 |
| 3075000 <sup>(1)</sup> | Sirius XM Radio LLC, 4.000%, 07/15/2028 | 2970007 | 0.2 |
| 560000 <sup>(1)</sup> | Sirius XM Radio LLC, 5.875%, 04/15/2032 | 556842 | 0.0 |
| 832000 <sup>(1)</sup> | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 831342 | 0.0 |
| 2590000 <sup>(1)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 2438184 | 0.1 |
| 630000 <sup>(1)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 600332 | 0.0 |
| 480000 <sup>(1)</sup> | SV RNO Property Owner 1 LLC, 5.875%, 03/01/2031 | 474762 | 0.0 |
| 550000 <sup>(1)</sup> | Versant Media Group, Inc., 7.250%, 01/30/2031 | 563321 | 0.0 |
| 315000 <sup>(1)</sup> | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 295823 | 0.0 |
| 200000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 172286 | 0.0 |
| 600000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 6.750%, 01/15/2033 | 536874 | 0.0 |
| 1890000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 7.750%, 04/15/2032 | 1814014 | 0.1 |
| 990000 <sup>(1)</sup> | WULF Compute LLC, 7.750%, 10/15/2030 | 1046742 | 0.1 |
|  |  | **50907137** | **2.5** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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: 3.9%** |  |  |
| 540000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 4.000%, 10/15/2030 | $507843 | 0.0 |
| 810000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 | 823551 | 0.1 |
| 525000 <sup>(1)</sup> | Acushnet Co., 5.625%, 12/01/2033 | 522250 | 0.0 |
| 650000 <sup>(1)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 | 657670 | 0.0 |
| 205000 <sup>(1)</sup> | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 212771 | 0.0 |
| 420000 <sup>(1)</sup><sup>(2)</sup> | Advance Auto Parts, Inc., 7.000%, 08/01/2030 | 425759 | 0.0 |
| 335000 <sup>(1)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 339578 | 0.0 |
| 185000 <sup>(1)</sup> | Allison Transmission, Inc., 3.750%, 01/30/2031 | 172329 | 0.0 |
| 420000 <sup>(1)</sup> | Allison Transmission, Inc., 5.875%, 06/01/2029 | 423194 | 0.0 |
| 350000 <sup>(1)</sup> | Allison Transmission, Inc., 5.875%, 12/01/2033 | 348045 | 0.0 |
| 525000 <sup>(1)</sup> | American Airlines, Inc., 7.250%, 02/15/2028 | 528393 | 0.0 |
| 14167 <sup>(1)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 14186 | 0.0 |
| 3075000 <sup>(1)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.750%, 04/20/2029 | 3060149 | 0.2 |
| 2845000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 2771352 | 0.2 |
| 3613000 | American Honda Finance Corp., GMTN, 4.450%, 10/22/2027 | 3609096 | 0.2 |
| 870000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 835271 | 0.1 |
| 625000 <sup>(1)</sup><sup>(2)</sup> | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 601456 | 0.0 |
| 2200000 <sup>(1)</sup><sup>(2)</sup> | Caesars Entertainment, Inc., 6.000%, 10/15/2032 | 2026703 | 0.1 |
| 610000 <sup>(1)</sup> | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 617829 | 0.0 |
| 675000 <sup>(1)</sup> | Carnival Corp., 5.750%, 08/01/2032 | 675624 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3075000 <sup>(1)</sup> | Cinemark USA, Inc., 5.250%, 07/15/2028 | $3050894 | 0.2 |
| 560000 <sup>(1)</sup><sup>(2)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | 575908 | 0.0 |
| 675000 <sup>(1)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 | 680825 | 0.0 |
| 420000 <sup>(1)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 449596 | 0.0 |
| 4175000 | Ford Motor Credit Co. LLC, 5.800%, 03/08/2029 | 4223072 | 0.2 |
| 150000 <sup>(1)</sup> | Gap, Inc., 3.625%, 10/01/2029 | 140226 | 0.0 |
| 405000 <sup>(1)</sup> | Gap, Inc., 3.875%, 10/01/2031 | 367180 | 0.0 |
| 410000 <sup>(1)</sup> | Gates Corp., 6.875%, 07/01/2029 | 421189 | 0.0 |
| 2673000 | General Motors Financial Co., Inc., 5.050%, 04/04/2028 | 2696590 | 0.2 |
| 440000 <sup>(2)</sup> | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 430628 | 0.0 |
| 1115000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | 1122443 | 0.1 |
| 2940000 | Honda Motor Co. Ltd., 4.436%, 07/08/2028 | 2933780 | 0.2 |
| 4561000 | Hyatt Hotels Corp., 5.050%, 03/30/2028 | 4600830 | 0.2 |
| 610000 <sup>(1)</sup> | International Game Technology PLC, 5.250%, 01/15/2029 | 605443 | 0.0 |
| 1725000 <sup>(1)</sup> | LG Energy Solution Ltd., 5.875%, 04/02/2036 | 1713356 | 0.1 |
| 2750000 <sup>(1)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 2696293 | 0.1 |
| 300000 <sup>(1)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 | 308061 | 0.0 |
| 220000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 187789 | 0.0 |
| 590000 <sup>(1)</sup> | Macy's Retail Holdings LLC, 6.125%, 03/15/2032 | 580153 | 0.0 |
| 270000 | MGM Resorts International, 4.750%, 10/15/2028 | 265091 | 0.0 |
| 150000 <sup>(2)</sup> | MGM Resorts International, 6.500%, 04/15/2032 | 151325 | 0.0 |
| 675000 <sup>(1)</sup> | Michaels Cos., Inc., 8.500%, 03/15/2033 | 657821 | 0.0 |
| 440000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 434267 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 135000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | $135153 | 0.0 |
| 525000 <sup>(1)</sup> | NCL Corp. Ltd., 5.875%, 01/15/2031 | 510387 | 0.0 |
| 2915000 <sup>(1)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 2895011 | 0.2 |
| 4190000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 4223579 | 0.2 |
| 2525000 <sup>(1)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 2607694 | 0.1 |
| 2718000 <sup>(1)</sup> | Royal Caribbean Cruises Ltd., 5.375%, 07/15/2027 | 2728567 | 0.2 |
| 555000 | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 04/01/2032 | 568460 | 0.0 |
| 505000 <sup>(1)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 434882 | 0.0 |
| 2825000 <sup>(1)</sup><sup>(2)</sup> | SeaWorld Parks & Entertainment, Inc., 5.250%, 08/15/2029 | 2699963 | 0.2 |
| 420000 <sup>(1)</sup> | Somnigroup International, Inc., 3.875%, 10/15/2031 | 382204 | 0.0 |
| 100000 <sup>(1)</sup> | Somnigroup International, Inc., 4.000%, 04/15/2029 | 96236 | 0.0 |
| 645000 <sup>(1)</sup> | Station Casinos LLC, 4.500%, 02/15/2028 | 632537 | 0.0 |
| 4735000 <sup>(1)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 4721047 | 0.3 |
| 590000 <sup>(1)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 562664 | 0.0 |
| 660000 <sup>(1)</sup> | Viking Cruises Ltd., 5.875%, 10/15/2033 | 652098 | 0.0 |
| 150000 <sup>(1)</sup> | Viking Cruises Ltd., 7.000%, 02/15/2029 | 150352 | 0.0 |
| 2762000 <sup>(1)</sup> | Volkswagen Group of America Finance LLC, 4.550%, 09/11/2028 | 2755527 | 0.2 |
| 615000 <sup>(1)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 | 638886 | 0.0 |
| 1700000 | Warnermedia Holdings, Inc., 4.279%, 03/15/2032 | 1506625 | 0.1 |
| 925000 <sup>(1)</sup><sup>(2)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 916318 | 0.1 |
| 825000 | Yum! Brands, Inc., 3.625%, 03/15/2031 | 762596 | 0.1 |
|  |  | **79046595** | **3.9** |
|  | **Consumer, Non-cyclical: 3.4%** |  |  |
| 3650000 <sup>(1)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 3636848 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 3430000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | $3273798 | 0.2 |
| 915000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.750%, 03/31/2034 | 896331 | 0.1 |
| 575000 <sup>(1)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | 588097 | 0.0 |
| 615000 <sup>(1)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 601255 | 0.0 |
| 255000 <sup>(1)</sup> | APi Group DE, Inc., 4.125%, 07/15/2029 | 243043 | 0.0 |
| 285000 <sup>(1)</sup> | APi Group DE, Inc., 4.750%, 10/15/2029 | 276083 | 0.0 |
| 3075000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 4.750%, 04/01/2028 | 3002483 | 0.2 |
| 100000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 | 99687 | 0.0 |
| 2590000 <sup>(1)</sup><sup>(2)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 2562041 | 0.1 |
| 440000 <sup>(1)</sup> | Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 | 454850 | 0.0 |
| 1965000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 1975240 | 0.1 |
| 555000 <sup>(1)</sup> | BellRing Brands, Inc., 7.000%, 03/15/2030 | 555552 | 0.0 |
| 535000 <sup>(1)</sup> | Belron UK Finance PLC, 5.750%, 10/15/2029 | 538726 | 0.0 |
| 1325000 <sup>(1)</sup> | Bidvest Group UK PLC, 6.200%, 09/17/2032 | 1326391 | 0.1 |
| 210000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 213394 | 0.0 |
| 210000 <sup>(1)</sup> | Brink's Co., 6.750%, 06/15/2032 | 212762 | 0.0 |
| 675000 <sup>(1)</sup> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 636608 | 0.0 |
| 615000 <sup>(1)</sup><sup>(2)</sup> | Cimpress PLC, 7.375%, 09/15/2032 | 610397 | 0.0 |
| 2835000 <sup>(1)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 2934548 | 0.2 |
| 469000 <sup>(1)</sup> | CPI CG, Inc., 10.000%, 07/15/2029 | 495360 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 405000 <sup>(1)</sup> | DaVita, Inc., 3.750%, 02/15/2031 | $371598 | 0.0 |
| 745000 <sup>(1)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | 716765 | 0.1 |
| 250000 <sup>(1)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 254529 | 0.0 |
| 655000 <sup>(1)</sup><sup>(2)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 606557 | 0.0 |
| 700000 <sup>(1)</sup><sup>(2)</sup> | EquipmentShare. com, Inc., 8.000%, 03/15/2033 | 723447 | 0.1 |
| 675000 <sup>(1)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 687753 | 0.1 |
| 400000 <sup>(1)</sup> | Genmab A/S/Genmab Finance LLC, 6.250%, 12/15/2032 | 410383 | 0.0 |
| 600000 <sup>(1)</sup> | Genmab A/S/Genmab Finance LLC, 7.250%, 12/15/2033 | 628588 | 0.0 |
| 2835000 <sup>(1)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 2946401 | 0.2 |
| 575000 <sup>(1)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 589998 | 0.0 |
| 305000 <sup>(1)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 312806 | 0.0 |
| 3598000 | Humana, Inc., 5.750%, 03/01/2028 | 3670032 | 0.2 |
| 520000 <sup>(1)</sup> | Industrial F&B Investments III, Inc., 7.750%, 02/11/2033 | 525852 | 0.0 |
| 430000 <sup>(1)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 439218 | 0.0 |
| 675000 <sup>(1)</sup> | Jazz Securities DAC, 4.375%, 01/15/2029 | 658719 | 0.0 |
| 135000 <sup>(1)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 144267 | 0.0 |
| 675000 <sup>(1)</sup> | LifePoint Health, Inc., 10.000%, 06/01/2032 | 690174 | 0.1 |
| 1535000 <sup>(1)</sup> | Medline Borrower L.P., 5.250%, 10/01/2029 | 1522410 | 0.1 |
| 675000 <sup>(1)</sup> | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 721075 | 0.1 |
| 1155000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 942463 | 0.1 |
| 200000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 6.750%, 05/15/2034 | 178415 | 0.0 |
| 405000 <sup>(1)</sup> | Performance Food Group, Inc., 5.625%, 03/01/2034 | 391067 | 0.0 |
| 660000 <sup>(2)</sup> | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 602765 | 0.0 |
| 455000 <sup>(1)</sup> | Post Holdings, Inc., 4.625%, 04/15/2030 | 437121 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 530000 <sup>(1)</sup> | Post Holdings, Inc., 6.250%, 10/15/2034 | $519477 | 0.0 |
| 2565000 <sup>(1)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 2529212 | 0.1 |
| 3590000 <sup>(1)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.375%, 04/30/2029 | 3490832 | 0.2 |
| 625000 <sup>(1)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 603067 | 0.0 |
| 615000 <sup>(1)</sup><sup>(2)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | 586727 | 0.0 |
| 660000 | Service Corp. International, 5.750%, 10/15/2032 | 659555 | 0.0 |
| 540000 <sup>(1)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 531652 | 0.0 |
| 1115000 <sup>(1)</sup><sup>(2)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1073835 | 0.1 |
| 3584000 | Solventum Corp., 5.400%, 03/01/2029 | 3666850 | 0.2 |
| 360000 <sup>(1)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 372320 | 0.0 |
| 475000 <sup>(1)</sup> | Star Parent, Inc., 9.000%, 10/01/2030 | 492694 | 0.0 |
| 185000 | Tenet Healthcare Corp., 4.250%, 06/01/2029 | 179501 | 0.0 |
| 440000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 439838 | 0.0 |
| 1250000 <sup>(1)</sup><sup>(2)</sup> | Tenet Healthcare Corp., 6.000%, 11/15/2033 | 1265795 | 0.1 |
| 685000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 690310 | 0.1 |
| 475000 | United Rentals North America, Inc., 4.875%, 01/15/2028 | 473254 | 0.0 |
| 390000 <sup>(1)</sup> | United Rentals North America, Inc., 6.125%, 03/15/2034 | 395396 | 0.0 |
| 550000 <sup>(1)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 562668 | 0.0 |
| 3075000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 06/15/2029 | 3111959 | 0.2 |
| 1115000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 1133497 | 0.1 |
|  |  | **67084336** | **3.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Energy: 2.4%** | **Energy: 2.4%** | **Energy: 2.4%** |
| 340000 <sup>(1)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | $339104 | 0.0 |
| 3651000 <sup>(1)</sup> | Antero Resources Corp., 5.375%, 03/01/2030 | 3671391 | 0.2 |
| 430000 <sup>(1)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 430000 | 0.0 |
| 525000 <sup>(1)</sup> | Archrock Services L.P. / Archrock Partners Finance Corp., 6.000%, 02/01/2034 | 520174 | 0.0 |
| 780000 <sup>(1)</sup> | Civitas Resources, Inc., 8.750%, 07/01/2031 | 815733 | 0.1 |
| 405000 <sup>(1)</sup> | CNX Resources Corp., 7.250%, 03/01/2032 | 417588 | 0.0 |
| 540000 <sup>(1)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 548305 | 0.0 |
| 395000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.375%, 06/30/2033 | 398544 | 0.0 |
| 2600000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 2691673 | 0.1 |
| 185000 <sup>(1)</sup> | DT Midstream, Inc., 4.125%, 06/15/2029 | 181161 | 0.0 |
| 320000 <sup>(1)</sup> | DT Midstream, Inc., 4.375%, 06/15/2031 | 308561 | 0.0 |
| 215000 <sup>(1)</sup> | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 215304 | 0.0 |
| 1030000 | Ecopetrol SA, 8.375%, 01/19/2036 | 1045810 | 0.1 |
| 1589000 | Enbridge, Inc., 4.600%, 06/20/2028 | 1593405 | 0.1 |
| 2725000 <sup>(3)</sup> | Energy Transfer L.P. G, 7.125%, 12/31/2199 | 2780753 | 0.2 |
| 2303000 | Enterprise Products Operating LLC, 4.300%, 06/20/2028 | 2306516 | 0.1 |
| 1875000 <sup>(1)</sup> | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 1945425 | 0.1 |
| 240000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 233761 | 0.0 |
| 135000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 131305 | 0.0 |
| 295000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.250%, 04/15/2032 | 285719 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 290000 <sup>(1)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | $300961 | 0.0 |
| 1600000 <sup>(1)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 7.750%, 11/05/2038 | 1716080 | 0.1 |
| 525000 <sup>(1)</sup> | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 527239 | 0.0 |
| 675000 <sup>(1)</sup> | Kodiak Gas Services LLC, 5.875%, 04/01/2031 | 678761 | 0.0 |
| 525000 <sup>(1)</sup> | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 544220 | 0.0 |
| 2305000 <sup>(1)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 2398168 | 0.1 |
| 1015000 <sup>(1)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 1018701 | 0.1 |
| 400000 <sup>(1)</sup> | ORLEN SA, 6.000%, 01/30/2035 | 408500 | 0.0 |
| 455000 <sup>(1)</sup> | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 455788 | 0.0 |
| 205000 <sup>(1)</sup> | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 208962 | 0.0 |
| 1475000 <sup>(1)</sup> | Pluspetrol Camisea SA / Pluspetrol Lote 56 SA, 6.240%, 07/03/2036 | 1534000 | 0.1 |
| 3075000 <sup>(1)</sup> | SM Energy Co., 6.750%, 08/01/2029 | 3123545 | 0.2 |
| 1015000 <sup>(1)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 1044544 | 0.1 |
| 870000 <sup>(1)</sup> | Sunoco L.P., 5.875%, 03/15/2034 | 861008 | 0.1 |
| 3075000 <sup>(2)</sup> | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/2029 | 3000607 | 0.2 |
| 835000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 805457 | 0.1 |
| 525000 <sup>(1)</sup> | Transocean International Ltd., 7.875%, 10/15/2032 | 561325 | 0.0 |
| 655000 <sup>(1)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 669120 | 0.0 |
| 695000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 711135 | 0.0 |
| 730000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 759562 | 0.1 |
| 3075000 <sup>(1)</sup> | Venture Global LNG, Inc., 9.500%, 02/01/2029 | 3326533 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 695000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 | $724940 | 0.0 |
| 710000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 752459 | 0.0 |
|  |  | **46991847** | **2.4** |
|  | **Financial: 5.6%** |  |  |
| 265000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 6.000%, 08/01/2029 | 249100 | 0.0 |
| 505000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 507691 | 0.0 |
| 240000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 8.500%, 06/15/2029 | 237944 | 0.0 |
| 660000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 648910 | 0.0 |
| 3075000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.750%, 04/15/2028 | 3093542 | 0.2 |
| 540000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 7.375%, 10/01/2032 | 535519 | 0.0 |
| 510000 <sup>(2)</sup> | Ally Financial, Inc., 6.700%, 02/14/2033 | 513945 | 0.0 |
| 330000 | American Tower Corp., 5.250%, 07/15/2028 | 335781 | 0.0 |
| 682000 | Aon North America, Inc., 5.750%, 03/01/2054 | 657648 | 0.0 |
| 729000 | Arthur J Gallagher & Co., 5.550%, 02/15/2055 | 681004 | 0.0 |
| 768000 | Athene Holding Ltd., 6.250%, 04/01/2054 | 705474 | 0.0 |
| 953000 | Athene Holding Ltd., 6.625%, 05/19/2055 | 919076 | 0.0 |
| 3773000 <sup>(1)</sup> | Avolon Holdings Funding Ltd., 2.528%, 11/18/2027 | 3649623 | 0.2 |
| 1950000 <sup>(1)</sup><sup>(3)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 | 1969500 | 0.1 |
| 984000 <sup>(1)</sup><sup>(3)</sup> | Banco del Estado de Chile, 7.950%, 12/31/2199 | 1035965 | 0.1 |
| 3615000 <sup>(3)</sup> | Bank of America Corp., 4.376%, 04/27/2028 | 3612934 | 0.2 |
| 1266000 <sup>(3)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 1204707 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3623000 | Brown & Brown, Inc., 4.700%, 06/23/2028 | $3634255 | 0.2 |
| 800000 <sup>(1)</sup> | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 707068 | 0.0 |
| 2213000 <sup>(1)</sup><sup>(2)</sup><sup>(3)</sup> | CaixaBank SA, 4.634%, 07/03/2029 | 2217089 | 0.1 |
| 3577000 <sup>(1)</sup><sup>(3)</sup> | CaixaBank SA, 5.673%, 03/15/2030 | 3675951 | 0.2 |
| 3558000 <sup>(3)</sup> | Capital One Financial Corp., 5.700%, 02/01/2030 | 3650793 | 0.2 |
| 1207604 <sup>(1)</sup> | CFE Fibra E, 5.875%, 09/23/2040 | 1175640 | 0.1 |
| 3701000 <sup>(1)</sup> | CNO Global Funding, 4.375%, 09/08/2028 | 3670960 | 0.2 |
| 3645000 | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 3612883 | 0.2 |
| 3689000 <sup>(1)</sup> | Corebridge Global Funding, 4.250%, 08/21/2028 | 3664479 | 0.2 |
| 3575000 <sup>(1)</sup><sup>(3)</sup> | Credit Agricole SA, 5.335%, 01/10/2030 | 3639960 | 0.2 |
| 2895000 <sup>(1)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 2877909 | 0.1 |
| 290000 <sup>(1)</sup> | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 313118 | 0.0 |
| 500000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 8.375%, 04/01/2032 | 492365 | 0.0 |
| 120000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 122130 | 0.0 |
| 4284000 <sup>(3)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 4482322 | 0.2 |
| 1115000 <sup>(1)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 1099834 | 0.1 |
| 1045000 <sup>(1)</sup> | Iron Mountain, Inc., 5.250%, 07/15/2030 | 1015878 | 0.1 |
| 325000 <sup>(1)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 324221 | 0.0 |
| 985000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 6.125%, 11/01/2032 | 974907 | 0.1 |
| 2019000 <sup>(3)</sup> | JPMorgan Chase & Co., 4.505%, 10/22/2028 | 2019118 | 0.1 |
| 455000 <sup>(1)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 441274 | 0.0 |
| 1877000 <sup>(3)</sup> | Lloyds Banking Group PLC, 3.574%, 11/07/2028 | 1851940 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3280000 <sup>(1)</sup> | LPL Holdings, Inc., 4.625%, 11/15/2027 | $3257336 | 0.2 |
| 400000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 373122 | 0.0 |
| 2715000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 2637063 | 0.1 |
| 325000 | Navient Corp., 4.875%, 03/15/2028 | 306997 | 0.0 |
| 3310000 | Navient Corp., 5.000%, 03/15/2027 | 3238090 | 0.2 |
| 3075000 | OneMain Finance Corp., 3.875%, 09/15/2028 | 2924606 | 0.1 |
| 1065000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 1027787 | 0.1 |
| 645000 | OneMain Finance Corp., 6.500%, 03/15/2033 | 617162 | 0.0 |
| 3450000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 3463331 | 0.2 |
| 3075000 <sup>(1)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 4.875%, 05/15/2029 | 2953880 | 0.2 |
| 905000 <sup>(1)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 916674 | 0.0 |
| 3075000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 4.250%, 02/15/2029 | 2916368 | 0.1 |
| 990000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 | 948070 | 0.1 |
| 865000 <sup>(1)</sup><sup>(2)</sup> | PRA Group, Inc., 5.000%, 10/01/2029 | 799350 | 0.0 |
| 3075000 <sup>(1)</sup> | PRA Group, Inc., 8.375%, 02/01/2028 | 3098484 | 0.2 |
| 3685000 <sup>(1)</sup> | RGA Global Funding, 4.350%, 08/25/2028 | 3667839 | 0.2 |
| 375000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 5.750%, 03/15/2034 | 370366 | 0.0 |
| 285000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 06/15/2033 | 290411 | 0.0 |
| 330000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 337131 | 0.0 |
| 1385000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 1401612 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 2602000 <sup>(3)</sup> | Royal Bank of Canada, GMTN, 4.522%, 10/18/2028 | $2605776 | 0.1 |
| 315000 <sup>(1)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 321876 | 0.0 |
| 470000 <sup>(1)</sup> | Symetra Life Insurance Co., 6.550%, 10/01/2055 | 471400 | 0.0 |
| 3566000 <sup>(3)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 3650532 | 0.2 |
| 515000 <sup>(1)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 529522 | 0.0 |
| 3565000 <sup>(3)</sup> | Wells Fargo & Co., MTN, 5.574%, 07/25/2029 | 3647291 | 0.2 |
|  |  | **112994533** | **5.6** |
|  | **Industrial: 3.1%** |  |  |
| 440000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 448139 | 0.0 |
| 3656000 | Amcor Flexibles North America, Inc., 4.800%, 03/17/2028 | 3680320 | 0.2 |
| 1700000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 1756316 | 0.1 |
| 1266000 | Amphenol Corp., 4.375%, 06/12/2028 | 1269927 | 0.1 |
| 380000 <sup>(1)</sup> | Amsted Industries, Inc., 6.375%, 03/15/2033 | 382198 | 0.0 |
| 615000 <sup>(1)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 | 630629 | 0.0 |
| 680000 <sup>(1)</sup> | Avient Corp., 6.250%, 11/01/2031 | 685320 | 0.0 |
| 1600000 <sup>(1)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | 1654333 | 0.1 |
| 895000 <sup>(1)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 | 894921 | 0.1 |
| 525000 <sup>(1)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 520064 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 | 1017118 | 0.1 |
| 575000 <sup>(1)</sup> | Chart Industries, Inc., 7.500%, 01/01/2030 | 598090 | 0.0 |
| 490000 <sup>(1)</sup> | Clean Harbors, Inc., 6.375%, 02/01/2031 | 497973 | 0.0 |
| 3075000 <sup>(1)</sup> | Clydesdale Acquisition Holdings, Inc., 6.625%, 04/15/2029 | 3022351 | 0.2 |
| 900000 <sup>(1)</sup> | Clydesdale Acquisition Holdings, Inc., 6.750%, 04/15/2032 | 852600 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 3556000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | $3599752 | 0.2 |
| 390000 | Crown Americas LLC, 5.875%, 06/01/2033 | 390181 | 0.0 |
| 945000 <sup>(1)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 962302 | 0.1 |
| 3075000 <sup>(1)</sup><sup>(2)</sup> | Energizer Holdings, Inc., 4.375%, 03/31/2029 | 2928013 | 0.2 |
| 500000 <sup>(1)</sup> | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 492489 | 0.0 |
| 475000 <sup>(1)</sup><sup>(2)</sup> | Energizer Holdings, Inc., 6.000%, 09/15/2033 | 445447 | 0.0 |
| 340000 <sup>(1)</sup> | Entegris Escrow Corp., 5.950%, 06/15/2030 | 342391 | 0.0 |
| 235000 <sup>(1)</sup> | Entegris, Inc., 3.625%, 05/01/2029 | 223570 | 0.0 |
| 1069000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 1047191 | 0.1 |
| 2734000 | GATX Corp., 5.400%, 03/15/2027 | 2754616 | 0.1 |
| 425000 <sup>(1)</sup> | GFL Environmental Holdings US, Inc., 5.500%, 02/01/2034 | 417370 | 0.0 |
| 305000 <sup>(1)</sup> | GFL Environmental, Inc., 4.375%, 08/15/2029 | 296961 | 0.0 |
| 220000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 216074 | 0.0 |
| 235000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | 246035 | 0.0 |
| 3735000 <sup>(1)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 3632656 | 0.2 |
| 1589000 | L3Harris Technologies, Inc., 4.400%, 06/15/2028 | 1590520 | 0.1 |
| 175000 <sup>(1)</sup> | Owens-Brockway Glass Container, Inc., 6.625%, 05/13/2027 | 175475 | 0.0 |
| 1725000 <sup>(1)</sup><sup>(2)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 1654022 | 0.1 |
| 1750000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 1780365 | 0.1 |
| 2225000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2257825 | 0.1 |
| 490000 <sup>(1)</sup> | Sealed Air Corp., 4.000%, 12/01/2027 | 489080 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 285000 <sup>(1)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | $288749 | 0.0 |
| 590000 <sup>(1)</sup> | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 547674 | 0.0 |
| 3075000 <sup>(1)</sup> | Smyrna Ready Mix Concrete LLC, 6.000%, 11/01/2028 | 3053731 | 0.2 |
| 860000 <sup>(1)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 887499 | 0.1 |
| 455000 <sup>(1)</sup> | Standard Industries, Inc., 3.375%, 01/15/2031 | 408138 | 0.0 |
| 285000 <sup>(1)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | 268805 | 0.0 |
| 3075000 <sup>(1)</sup> | Standard Industries, Inc., 4.750%, 01/15/2028 | 3041933 | 0.2 |
| 625000 <sup>(1)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 | 651876 | 0.0 |
| 405000 <sup>(1)</sup> | Terex Corp., 6.250%, 10/15/2032 | 408015 | 0.0 |
| 645000 <sup>(1)</sup> | TransDigm, Inc., 6.000%, 01/15/2033 | 645357 | 0.0 |
| 165000 <sup>(1)</sup><sup>(2)</sup> | TransDigm, Inc., 6.250%, 01/31/2034 | 166955 | 0.0 |
| 3075000 <sup>(1)</sup> | TransDigm, Inc., 6.375%, 03/01/2029 | 3136232 | 0.2 |
| 1440000 <sup>(1)</sup> | TransDigm, Inc., 6.375%, 05/31/2033 | 1433460 | 0.1 |
| 370000 <sup>(1)</sup> | TransDigm, Inc., 6.625%, 03/01/2032 | 377814 | 0.0 |
| 525000 <sup>(1)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 532274 | 0.0 |
| 1670000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 1692964 | 0.1 |
| 440000 <sup>(1)</sup> | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 426481 | 0.0 |
| 685000 <sup>(1)</sup> | WESCO Distribution, Inc., 5.500%, 04/15/2034 | 676334 | 0.0 |
|  |  | **62496925** | **3.1** |
|  | **Technology: 1.7%** |  |  |
| 540000 <sup>(1)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 | 559313 | 0.0 |
| 1911000 | Analog Devices, Inc., 4.250%, 06/15/2028 | 1914320 | 0.1 |
| 800000 <sup>(1)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 814893 | 0.1 |
| 3670000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 3583958 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 525000 <sup>(1)</sup><sup>(2)</sup> | Cloud Software Group, Inc., 6.625%, 08/15/2033 | $467239 | 0.0 |
| 1765000 <sup>(1)</sup><sup>(2)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 1716664 | 0.1 |
| 325000 <sup>(1)</sup> | Fair Isaac Corp., 6.000%, 05/15/2033 | 319092 | 0.0 |
| 3614000 | Fiserv, Inc., 5.450%, 03/02/2028 | 3667067 | 0.2 |
| 545000 <sup>(1)</sup><sup>(2)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 542329 | 0.0 |
| 1010000 | International Business Machines Corp., 5.800%, 02/03/2056 | 966322 | 0.1 |
| 850000 | Intuit, Inc., 5.500%, 09/15/2053 | 782483 | 0.1 |
| 450000 <sup>(1)</sup> | McAfee Corp., 7.375%, 02/15/2030 | 372279 | 0.0 |
| 550000 <sup>(1)</sup> | OAK-Eagle Acquireco, Inc., 7.250%, 07/01/2033 | 570209 | 0.0 |
| 550000 <sup>(1)</sup> | OAK-Eagle Acquireco, Inc., 8.750%, 07/01/2034 | 576151 | 0.0 |
| 270000 <sup>(1)</sup> | Open Text Corp., 3.875%, 12/01/2029 | 241589 | 0.0 |
| 540000 <sup>(1)</sup> | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 482972 | 0.0 |
| 2780000 | Oracle Corp., 4.550%, 02/04/2029 | 2745415 | 0.1 |
| 2737000 | Oracle Corp., 4.800%, 08/03/2028 | 2738600 | 0.1 |
| 850000 | Oracle Corp., 5.950%, 09/26/2055 | 715609 | 0.0 |
| 535000 <sup>(1)</sup><sup>(2)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | 418049 | 0.0 |
| 3699000 | Roper Technologies, Inc., 4.250%, 09/15/2028 | 3676368 | 0.2 |
| 3669000 | Salesforce, Inc., 4.650%, 03/15/2029 | 3677175 | 0.2 |
| 3240000 <sup>(1)</sup> | UKG, Inc., 6.875%, 02/01/2031 | 3169272 | 0.2 |
|  |  | **34717368** | **1.7** |
|  | **Utilities: 1.9%** |  |  |
| 1236900 <sup>(1)</sup> | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 1152172 | 0.1 |
| 510000 <sup>(1)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 | 517835 | 0.0 |
| 3596000 <sup>(1)</sup> | Capital Power US Holdings, Inc., 5.257%, 06/01/2028 | 3617966 | 0.2 |
| 586503 <sup>(1)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 | 591934 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |  |  |
| 1225000 <sup>(1)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 | $1226837 | 0.1 |
| 1700000 <sup>(1)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 1692775 | 0.1 |
| 270000 <sup>(1)</sup> | Constellation Energy Generation LLC, 5.000%, 02/01/2031 | 270824 | 0.0 |
| 4511000 | DTE Energy Co., 5.100%, 03/01/2029 | 4587600 | 0.2 |
| 850000 | Entergy Arkansas LLC, 5.750%, 01/15/2056 | 834047 | 0.1 |
| 950000 <sup>(1)</sup> | Grupo Energia Bogota SA ESP, 5.750%, 10/22/2035 | 907535 | 0.1 |
| 3582000 <sup>(1)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 3655191 | 0.2 |
| 540000 <sup>(1)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 | 561734 | 0.0 |
| 853000 | NextEra Energy Capital Holdings, Inc., 5.850%, 03/01/2056 | 833134 | 0.0 |
| 1100000 <sup>(1)</sup> | Nova Securitisation Sarl, 6.500%, 02/03/2036 | 1046375 | 0.1 |
| 3075000 <sup>(1)</sup> | NRG Energy, Inc., 5.250%, 06/15/2029 | 3046103 | 0.2 |
| 785000 <sup>(1)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 | 785703 | 0.0 |
| 650000 <sup>(1)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 | 655712 | 0.0 |
| 550000 <sup>(3)</sup> | PG&E Corp., 6.850%, 09/15/2056 | 543710 | 0.0 |
| 3643000 | Sierra Pacific Power Co., 2.600%, 05/01/2026 | 3638628 | 0.2 |
| 2950000 | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 2580438 | 0.1 |
| 700000 <sup>(1)</sup> | Talen Energy Supply LLC, 6.250%, 02/01/2034 | 692694 | 0.0 |
| 320000 <sup>(1)</sup> | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 312585 | 0.0 |
| 235000 <sup>(1)</sup> | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 235105 | 0.0 |
| 2549000 <sup>(1)</sup> | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | 2671254 | 0.1 |
| 1251000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 | 1181722 | 0.1 |
|  |  | **37839613** | **1.9** |
|  | Total Corporate Bonds/Notes <br> (Cost $534,477,010) | **530317088** | **26.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 26.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 26.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 26.2%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 26.2%** |
| 141664 <sup>(3)</sup> | Adjustable Rate Mortgage Trust 2006-2 1A1, 4.516%, 05/25/2036 | $123296 | 0.0 |
| 682777 <sup>(1)</sup><sup>(3)</sup> | Agate Bay Mortgage Trust 2015-2 B3, 3.612%, 03/25/2045 | 632305 | 0.0 |
| 475938 <sup>(1)</sup><sup>(3)</sup> | Agate Bay Mortgage Trust 2015-4 B3, 3.465%, 06/25/2045 | 385561 | 0.0 |
| 972618 <sup>(1)</sup><sup>(3)</sup> | Agate Bay Mortgage Trust 2016-1 B3, 3.609%, 12/25/2045 | 823627 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Agate Bay Mortgage Trust 2016-1 B4, 3.609%, 12/25/2045 | 769151 | 0.0 |
| 1137085 <sup>(1)</sup><sup>(3)</sup> | Agate Bay Mortgage Trust 2016-2 B4, 3.757%, 03/25/2046 | 869027 | 0.0 |
| 3089000 <sup>(1)</sup><sup>(3)</sup> | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 2922924 | 0.1 |
| 4734000 <sup>(1)</sup><sup>(3)</sup> | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 4568881 | 0.2 |
| 199125 <sup>(3)</sup> | Alternative Loan Trust 2004-J7 M1, 4.813%, (TSFR1M + 1.134%), 10/25/2034 | 198395 | 0.0 |
| 236328 <sup>(3)</sup> | Alternative Loan Trust 2005-10CB 1A2, 4.243%, (TSFR1M + 0.564%), 05/25/2035 | 172401 | 0.0 |
| 238213 | Alternative Loan Trust 2005-23CB A15, 5.500%, 07/25/2035 | 190337 | 0.0 |
| 14773 <sup>(3)</sup> | Alternative Loan Trust 2005-53T2 2A6, 4.293%, (TSFR1M + 0.614%), 11/25/2035 | 7271 | 0.0 |
| 133825 <sup>(3)</sup> | Alternative Loan Trust 2005-J2 1A12, 4.193%, (TSFR1M + 0.514%), 04/25/2035 | 104790 | 0.0 |
| 27837 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | 12940 | 0.0 |
| 435763 <sup>(3)</sup> | Alternative Loan Trust 2006-18CB A10, 4.193%, (TSFR1M + 0.514%), 07/25/2036 | 157498 | 0.0 |
| 102149 <sup>(3)</sup> | Alternative Loan Trust 2006-19CB A12, 4.193%, (TSFR1M + 0.514%), 08/25/2036 | 42202 | 0.0 |
| 432578 <sup>(3)</sup> | Alternative Loan Trust 2006-19CB A28, 4.393%, (TSFR1M + 0.714%), 08/25/2036 | 184984 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 763282 | Alternative Loan Trust 2006-27CB A5, 6.000%, 11/25/2036 | $389366 | 0.0 |
| 754743 | Alternative Loan Trust 2007-15CB A5, 5.750%, 07/25/2037 | 414711 | 0.0 |
| 110024 <sup>(3)</sup> | Alternative Loan Trust 2007-2CB 2A1, 4.393%, (TSFR1M + 0.714%), 03/25/2037 | 41642 | 0.0 |
| 128051 <sup>(3)</sup> | Alternative Loan Trust 2007-HY8C A1, 4.113%, (TSFR1M + 0.434%), 09/25/2047 | 120653 | 0.0 |
| 398638 <sup>(3)</sup> | Alternative Loan Trust 2007-OA4 A1, 4.133%, (TSFR1M + 0.454%), 05/25/2047 | 366366 | 0.0 |
| 239550 <sup>(1)</sup><sup>(3)</sup> | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 230658 | 0.0 |
| 226459 <sup>(3)</sup> | Banc of America Funding Trust 2007-2 1A16, 4.393%, (TSFR1M + 0.714%), 03/25/2037 | 163841 | 0.0 |
| 1001441 <sup>(3)</sup> | Banc of America Funding Trust 2007-C 7A1, 4.210%, (TSFR1M + 0.534%), 05/20/2047 | 943294 | 0.1 |
| 80036 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2005-3 4A3, 4.031%, 04/25/2035 | 78659 | 0.0 |
| 334302 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2006-6 31A1, 4.330%, 11/25/2036 | 183202 | 0.0 |
| 485285 <sup>(3)</sup> | Bear Stearns ALT-A Trust 2006-6 32A1, 4.433%, 11/25/2036 | 241943 | 0.0 |
| 61387 <sup>(3)</sup> | Bear Stearns Structured Products, Inc. Trust 2007-R6 1A1, 4.788%, 01/26/2036 | 43930 | 0.0 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Bellemeade Re Ltd. 2025-1 M1B, 6.162%, (SOFR30A + 2.500%), 10/25/2035 | 1005388 | 0.1 |
| 4725000 <sup>(1)</sup><sup>(3)</sup> | BOFAS Re-REMIC Trust 2026-FRR8 D746, 1.415%, 04/27/2054 | 4029613 | 0.2 |
| 1691887 <sup>(1)</sup> | Brean Asset Backed Securities Trust 2024-RM9 A1, 5.000%, 09/25/2064 | 1675494 | 0.1 |
| 1072192 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust 2019-1 B3, 3.877%, 03/25/2050 | 953915 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 98482 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust 2019-ATR2 A3, 3.500%, 07/25/2049 | $90073 | 0.0 |
| 1959145 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust 2024-8 B3, 7.033%, 08/25/2055 | 2045736 | 0.1 |
| 526047 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-1 A9, 6.500%, 01/25/2055 | 534103 | 0.0 |
| 2276111 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-11 B3, 6.564%, 11/25/2055 | 2327144 | 0.1 |
| 1393102 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 A9, 6.000%, 03/25/2055 | 1402857 | 0.1 |
| 2509707 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 B2, 6.119%, 03/25/2055 | 2479349 | 0.1 |
| 1766663 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-4 B3, 6.119%, 03/25/2055 | 1760578 | 0.1 |
| 976120 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2024-6 B3, 7.054%, 05/25/2055 | 1029469 | 0.1 |
| 2385244 <sup>(1)</sup><sup>(3)</sup> | Chase Home Lending Mortgage Trust Series 2025-12 B3, 6.586%, 09/25/2056 | 2441860 | 0.1 |
| 204783 <sup>(3)</sup> | Chase Mortgage Finance Trust Series 2006-A1 2A3, 5.204%, 09/25/2036 | 182143 | 0.0 |
| 176358 <sup>(3)</sup> | CHL Mortgage Pass-Through Trust 2005-HYB9 2A1, 6.449%, (TSFR12M + 2.465%), 02/20/2036 | 167343 | 0.0 |
| 1333595 <sup>(1)</sup><sup>(3)</sup> | CHNGE Mortgage Trust 2022-1 A1, 4.007%, 01/25/2067 | 1286481 | 0.1 |
| 61053 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 58442 | 0.0 |
| 107587 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-INV2 A3, 4.000%, 05/25/2049 | 102092 | 0.0 |
| 119708 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-INV3 A15, 3.500%, 08/25/2049 | 108960 | 0.0 |
| 179562 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 163440 | 0.0 |
| 1352307 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-J1 B3, 3.936%, 08/25/2049 | 1255438 | 0.1 |
| 2698904 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-J2 B2, 3.764%, 10/25/2049 | 2460144 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1696274 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2019-J2 B3, 3.764%, 10/25/2049 | $1546446 | 0.1 |
| 1106422 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2020-J2 B3, 2.753%, 01/25/2051 | 901602 | 0.0 |
| 1658267 <sup>(1)</sup><sup>(3)</sup> | CIM Trust 2021-J3 B3, 2.614%, 06/25/2051 | 1323452 | 0.1 |
| 320028 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | 293000 | 0.0 |
| 58401 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2006-AR2 1A1, 5.372%, 03/25/2036 | 43301 | 0.0 |
| 23154 <sup>(3)</sup> | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.354%, 11/25/2036 | 20578 | 0.0 |
| 83323 <sup>(1)</sup><sup>(3)</sup> | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 82742 | 0.0 |
| 2539042 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2024-1 B3, 6.645%, 07/25/2054 | 2612325 | 0.1 |
| 1378980 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2024-CMI1 B2, 6.365%, 06/25/2054 | 1404887 | 0.1 |
| 11752 <sup>(3)</sup> | Citigroup Mortgage Loan Trust, Inc. 2005-4 A, 5.677%, 08/25/2035 | 11749 | 0.0 |
| 90082 | Citigroup Mortgage Loan Trust, Inc. 2005-9 22A2, 6.000%, 11/25/2035 | 91662 | 0.0 |
| 550553 <sup>(1)</sup><sup>(3)</sup> | Connecticut Avenue Securities Trust 2019-R05 1B1, 7.876%, (SOFR30A + 4.214%), 07/25/2039 | 555126 | 0.0 |
| 1700000 <sup>(1)</sup><sup>(3)</sup> | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 7.426%, (SOFR30A + 3.764%), 02/25/2040 | 1738994 | 0.1 |
| 262054 | CSMC Mortgage-Backed Trust 2007-2 3A6, 5.400%, 03/25/2037 | 116309 | 0.0 |
| 319552 <sup>(1)</sup><sup>(3)</sup> | CSMC Trust 2013-7 A11, 3.500%, 08/25/2043 | 298200 | 0.0 |
| 213390 <sup>(1)</sup><sup>(3)</sup> | CSMC Trust 2017-HL1 A12, 3.500%, 06/25/2047 | 192999 | 0.0 |
| 860865 <sup>(1)</sup><sup>(3)</sup> | CSMC Trust 2019-AFC1 A3, 3.877%, 07/25/2049 | 832386 | 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)** |
| 306380 <sup>(3)</sup> | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 A1, 4.093%, (TSFR1M + 0.414%), 04/25/2037 | $217335 | 0.0 |
| 61516 <sup>(1)</sup><sup>(3)</sup> | Deutsche Mortgage Securities, Inc. Re-REMIC Trust Certificates Series 2007-WM1 A1, 4.170%, 06/27/2037 | 54888 | 0.0 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | EFMT 2025-RM4 A1, 4.750%, 11/25/2055 | 1435458 | 0.1 |
| 710886 <sup>(1)</sup><sup>(3)</sup> | Ellington Financial Mortgage Trust 2022-2 A1, 4.299%, 04/25/2067 | 709050 | 0.0 |
| 8000000 <sup>(4)</sup> | Fannie Mae, 3.000%, 05/01/2056 | 7021061 | 0.4 |
| 3540000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 6.776%, (SOFR30A + 3.114%), 01/25/2040 | 3586165 | 0.2 |
| 750000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R04 1B1, 8.912%, (SOFR30A + 5.250%), 03/25/2042 | 778840 | 0.0 |
| 3045000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 10.662%, (SOFR30A + 7.000%), 04/25/2042 | 3211227 | 0.2 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 9.012%, (SOFR30A + 5.350%), 05/25/2043 | 1069815 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 8.412%, (SOFR30A + 4.750%), 06/25/2043 | 1589975 | 0.1 |
| 3300000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 6.462%, (SOFR30A + 2.800%), 03/25/2044 | 3408060 | 0.2 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 5.862%, (SOFR30A + 2.200%), 05/25/2044 | 2529604 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R06 1B1, 5.712%, (SOFR30A + 2.050%), 09/25/2044 | 1004752 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 5.612%, (SOFR30A + 1.950%), 02/25/2045 | $2004303 | 0.1 |
| 241276 <sup>(5)</sup> | Fannie Mae Interest Strip 343 6, 5.000%, 10/25/2033 | 28676 | 0.0 |
| 13752062 <sup>(5)</sup> | Fannie Mae Interest Strip 427 C13, 3.500%, 03/25/2037 | 1412691 | 0.1 |
| 12325185 <sup>(5)</sup> | Fannie Mae Interest Strip 427 C18, 3.500%, 03/25/2039 | 1717404 | 0.1 |
| 24807988 <sup>(5)</sup> | Fannie Mae Interest Strip 427 C38, 3.000%, 04/25/2049 | 4671581 | 0.2 |
| 3023254 <sup>(5)</sup> | Fannie Mae Interest Strip 429 141, 6.500%, 02/25/2053 | 626540 | 0.0 |
| 945072 <sup>(5)</sup> | Fannie Mae Interest Strip 429 142, 6.500%, 02/25/2053 | 192137 | 0.0 |
| 355149 <sup>(5)</sup> | Fannie Mae Interest Strip 429 143, 6.500%, 02/25/2053 | 70014 | 0.0 |
| 212517 <sup>(5)</sup> | Fannie Mae Interest Strip 429 144, 6.500%, 02/25/2053 | 41306 | 0.0 |
| 17236 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2000-26 SP, 4.724%, (-1.000\*SOFR30A + 8.386%), 08/25/2030 | 1169 | 0.0 |
| 31090 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2002-13 SR, 2.824%, (-1.000\*SOFR30A + 6.486%), 03/25/2032 | 909 | 0.0 |
| 601163 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2004-53 UC, 3.774%, (-1.000\*SOFR30A + 7.436%), 07/25/2034 | 58255 | 0.0 |
| 45296 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2004-64 SW, 3.274%, (-1.000\*SOFR30A + 6.936%), 08/25/2034 | 3055 | 0.0 |
| 35838 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2004-66 SE, 2.724%, (-1.000\*SOFR30A + 6.386%), 09/25/2034 | 1921 | 0.0 |
| 115366 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2005-59 NS, 2.974%, (-1.000\*SOFR30A + 6.636%), 05/25/2035 | 1228 | 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)** |
| 135604 <sup>(3)</sup> | Fannie Mae REMIC Trust 2006-11 FA, 4.076%, (SOFR30A + 0.414%), 03/25/2036 | $134771 | 0.0 |
| 77492 <sup>(3)</sup> | Fannie Mae REMIC Trust 2006-46 SP, 10.353%, (-1.000\*SOFR30A + 23.780%), 06/25/2036 | 91298 | 0.0 |
| 212839 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2007-18 BS, 2.824%, (-1.000\*SOFR30A + 6.486%), 06/25/2035 | 16288 | 0.0 |
| 2104548 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2007-22 SD, 2.624%, (-1.000\*SOFR30A + 6.286%), 03/25/2037 | 176422 | 0.0 |
| 1140008 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2007-55 S, 2.984%, (-1.000\*SOFR30A + 6.646%), 06/25/2037 | 92641 | 0.0 |
| 998107 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2008-94 SI, 1.724%, (-1.000\*SOFR30A + 5.386%), 04/25/2036 | 57954 | 0.0 |
| 113715 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2009-25 SN, 2.774%, (-1.000\*SOFR30A + 6.436%), 04/25/2039 | 10650 | 0.0 |
| 623783 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2009-70 PS, 2.974%, (-1.000\*SOFR30A + 6.636%), 01/25/2037 | 59329 | 0.0 |
| 88617 <sup>(3)</sup> | Fannie Mae REMIC Trust 2010-15 FD, 4.516%, (SOFR30A + 0.854%), 03/25/2040 | 88952 | 0.0 |
| 234503 <sup>(3)</sup> | Fannie Mae REMIC Trust 2011-47 GF, 4.346%, (SOFR30A + 0.684%), 06/25/2041 | 234044 | 0.0 |
| 37043 <sup>(3)</sup> | Fannie Mae REMIC Trust 2012-10 UF, 4.326%, (SOFR30A + 0.664%), 02/25/2042 | 36836 | 0.0 |
| 1333041 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-111 UI, 3.000%, 10/25/2027 | 19160 | 0.0 |
| 135930 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-121 DI, 2.500%, 11/25/2027 | 1821 | 0.0 |
| 1172786 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-128 KI, 3.000%, 11/25/2027 | 16902 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 4973990 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2012-133 NS, 2.374%, (-1.000\*SOFR30A + 6.036%), 12/25/2042 | $508434 | 0.0 |
| 211752 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-148 IB, 3.500%, 01/25/2028 | 3147 | 0.0 |
| 3129195 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2012-150 PS, 2.374%, (-1.000\*SOFR30A + 6.036%), 01/25/2043 | 317683 | 0.0 |
| 6081627 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2012-66 IB, 0.050%, (-1.000\*SOFR30A + 5.936%), 06/25/2042 | 11703 | 0.0 |
| 97851 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2012-84 KI, 6.000%, (SOFR30A + 6.000%), 08/25/2042 | 17997 | 0.0 |
| 46309 <sup>(5)</sup> | Fannie Mae REMIC Trust 2012-93 IL, 3.000%, 09/25/2027 | 520 | 0.0 |
| 1399688 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-1 LI, 2.500%, 02/25/2028 | 20444 | 0.0 |
| 1038271 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-137 PI, 5.000%, 10/25/2041 | 192208 | 0.0 |
| 3452559 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2013-19 JS, 2.424%, (-1.000\*SOFR30A + 6.086%), 10/25/2041 | 137639 | 0.0 |
| 778210 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-2 NI, 4.000%, 02/25/2043 | 97345 | 0.0 |
| 499116 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-21 KI, 3.000%, 03/25/2028 | 6744 | 0.0 |
| 2252612 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-32 EI, 2.500%, 04/25/2033 | 129569 | 0.0 |
| 252155 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-41 BI, 3.000%, 05/25/2028 | 4901 | 0.0 |
| 330241 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-67 AI, 3.000%, 07/25/2028 | 4893 | 0.0 |
| 577962 <sup>(5)</sup> | Fannie Mae REMIC Trust 2013-69 PI, 3.000%, 04/25/2033 | 23994 | 0.0 |
| 1939995 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2013-97 JS, 2.374%, (-1.000\*SOFR30A + 6.036%), 04/25/2038 | 127823 | 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)** |
| 4803692 <sup>(5)</sup> | Fannie Mae REMIC Trust 2015-40 AI, 6.000%, 05/25/2037 | $763465 | 0.0 |
| 3510421 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2016-19 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 04/25/2046 | 230212 | 0.0 |
| 1376167 <sup>(5)</sup> | Fannie Mae REMIC Trust 2016-4 BI, 4.000%, 02/25/2046 | 250135 | 0.0 |
| 852277 <sup>(5)</sup> | Fannie Mae REMIC Trust 2016-61 PI, 4.500%, 01/25/2046 | 129396 | 0.0 |
| 36625509 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2016-75 SC, 2.324%, (-1.000\*SOFR30A + 5.986%), 10/25/2046 | 2456812 | 0.1 |
| 16044233 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2016-81 SA, 2.374%, (-1.000\*SOFR30A + 6.036%), 11/25/2046 | 1025077 | 0.1 |
| 9830500 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2017-16 SG, 2.274%, (-1.000\*SOFR30A + 5.936%), 03/25/2047 | 1013893 | 0.1 |
| 16568788 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2018-86 US, 2.424%, (-1.000\*SOFR30A + 6.086%), 12/25/2048 | 1144591 | 0.1 |
| 7140945 <sup>(5)</sup> | Fannie Mae REMIC Trust 2019-15 AI, 4.000%, 04/25/2059 | 1628625 | 0.1 |
| 8567082 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2019-17 SA, 2.324%, (-1.000\*SOFR30A + 5.986%), 04/25/2049 | 621119 | 0.0 |
| 7557311 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2019-8 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 03/25/2049 | 551062 | 0.0 |
| 19546436 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-33 YI, 4.000%, 05/25/2050 | 3448481 | 0.2 |
| 9486619 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-47 PI, 4.000%, 07/25/2050 | 2009252 | 0.1 |
| 10150814 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2020-47 SH, 2.324%, (-1.000\*SOFR30A + 5.986%), 07/25/2050 | 1221167 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 16154288 <sup>(3)</sup><sup>(5)</sup> | Fannie Mae REMIC Trust 2020-49 SB, 2.324%, (-1.000\*SOFR30A + 5.986%), 07/25/2050 | $2299191 | 0.1 |
| 9981082 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-52 AI, 4.000%, 08/25/2050 | 1609473 | 0.1 |
| 33798478 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-64 IO, 3.000%, 09/25/2050 | 6716200 | 0.3 |
| 15444374 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-65 CI, 4.000%, 09/25/2050 | 2578590 | 0.1 |
| 16433869 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-67 JI, 4.000%, 09/25/2050 | 3311957 | 0.2 |
| 23676902 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-74 IQ, 6.000%, 10/25/2050 | 4894239 | 0.2 |
| 20331736 <sup>(5)</sup> | Fannie Mae REMIC Trust 2020-94 MI, 4.500%, 04/25/2050 | 4727314 | 0.2 |
| 13485069 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-18 IY, 4.500%, 08/25/2049 | 3474099 | 0.2 |
| 15737189 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-2 PI, 2.000%, 02/25/2051 | 1640489 | 0.1 |
| 16320544 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-23 JI, 3.000%, 04/25/2051 | 2598014 | 0.1 |
| 20167466 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-27 EI, 4.500%, 05/25/2051 | 4675426 | 0.2 |
| 15329181 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-28 GI, 4.000%, 05/25/2051 | 3112993 | 0.2 |
| 42105849 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-46 IM, 4.500%, 07/25/2051 | 10926561 | 0.5 |
| 7554805 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-56 QI, 4.500%, 09/25/2051 | 1912469 | 0.1 |
| 29746790 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-65 KI, 3.500%, 10/25/2051 | 5348452 | 0.3 |
| 15723033 <sup>(5)</sup> | Fannie Mae REMIC Trust 2021-74 AI, 3.000%, 11/25/2051 | 2611538 | 0.1 |
| 61225 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A7, 6.000%, 02/25/2037 | 21216 | 0.0 |
| 128669 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2017-2 A7, 3.500%, 10/25/2047 | 116670 | 0.0 |
| 501309 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-1 B3, 3.910%, 03/25/2048 | 459884 | 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)** |
| 539432 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | $503942 | 0.0 |
| 3124750 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.124%, 07/25/2048 | 2878005 | 0.1 |
| 158050 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-6RR 1A7, 4.000%, 10/25/2048 | 147358 | 0.0 |
| 2870879 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2018-6RR B1, 4.903%, 10/25/2048 | 2812933 | 0.1 |
| 1264838 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2019-2 B1, 4.004%, 12/25/2049 | 1164782 | 0.1 |
| 1770774 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2019-2 B2, 4.004%, 12/25/2049 | 1625986 | 0.1 |
| 3021818 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.177%, 03/25/2050 | 2779608 | 0.1 |
| 2590129 <sup>(1)</sup><sup>(3)</sup> | Flagstar Mortgage Trust 2020-1INV B3, 4.177%, 03/25/2050 | 2365292 | 0.1 |
| 593 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2266 S, 4.763%, (-1.000\*SOFR30A + 8.436%), 11/15/2030 | 27 | 0.0 |
| 44229 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2374 S, 4.313%, (-1.000\*SOFR30A + 7.986%), 06/15/2031 | 3051 | 0.0 |
| 27989 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2417 SY, 4.613%, (-1.000\*SOFR30A + 8.286%), 12/15/2031 | 2647 | 0.0 |
| 110313 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2525 SM, 4.213%, (-1.000\*SOFR30A + 7.886%), 02/15/2032 | 9804 | 0.0 |
| 56988 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2577 SA, 3.663%, (-1.000\*SOFR30A + 7.336%), 02/15/2033 | 4830 | 0.0 |
| 608978 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2781 SB, 3.363%, (-1.000\*SOFR30A + 7.036%), 04/15/2034 | 46545 | 0.0 |
| 142632 <sup>(3)</sup> | Freddie Mac REMIC Trust 2921 PF, 4.137%, (SOFR30A + 0.464%), 01/15/2035 | 141713 | 0.0 |
| 98302 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2981 CS, 2.933%, (-1.000\*SOFR30A + 6.606%), 05/15/2035 | 5305 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 44245 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2981 SU, 4.013%, (-1.000\*SOFR30A + 7.686%), 05/15/2030 | $2529 | 0 |
| 236955 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 2989 HS, 3.363%, (-1.000\*SOFR30A + 7.036%), 08/15/2034 | 25518 | 0 |
| 66358 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3018 SM, 3.413%, (-1.000\*SOFR30A + 7.086%), 08/15/2035 | 6880 | 0 |
| 86584 <sup>(3)</sup> | Freddie Mac REMIC Trust 3031 BP, 8.000%, (-1.000\*SOFR30A + 44.205%), 08/15/2035 | 88420 | 0 |
| 223866 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3049 PI, 2.863%, (-1.000\*SOFR30A + 6.536%), 10/15/2035 | 18932 | 0 |
| 1601076 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3128 JI, 2.843%, (-1.000\*SOFR30A + 6.516%), 03/15/2036 | 135167 | 0 |
| 29954 <sup>(6)</sup> | Freddie Mac REMIC Trust 3151 PO, 0.000%, 05/15/2036 | 25463 | 0 |
| 709699 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3222 SN, 2.813%, (-1.000\*SOFR30A + 6.486%), 09/15/2036 | 57285 | 0 |
| 942857 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3298 S, 2.323%, (-1.000\*SOFR30A + 5.996%), 04/15/2037 | 75412 | 0 |
| 260781 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3523 SA, 2.213%, (-1.000\*SOFR30A + 5.886%), 09/15/2036 | 17914 | 0 |
| 267275 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3582 MS, 2.363%, (-1.000\*SOFR30A + 6.036%), 10/15/2039 | 21806 | 0 |
| 109411 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 3624 TS, 1.013%, (-1.000\*SOFR30A + 4.686%), 01/15/2040 | 3832 | 0 |
| 294229 <sup>(5)</sup> | Freddie Mac REMIC Trust 3688 BI, 5.000%, 07/15/2040 | 39772 | 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)** |
| 231282 <sup>(3)</sup> | Freddie Mac REMIC Trust 3740 FB, 4.287%, (SOFR30A + 0.614%), 10/15/2040 | $229468 | 0.0 |
| 374774 <sup>(5)</sup> | Freddie Mac REMIC Trust 4097 IC, 2.500%, 08/15/2027 | 4709 | 0.0 |
| 410281 <sup>(5)</sup> | Freddie Mac REMIC Trust 4116 IL, 4.500%, 05/15/2042 | 32220 | 0.0 |
| 1306491 <sup>(5)</sup> | Freddie Mac REMIC Trust 4120 TI, 2.500%, 10/15/2027 | 16626 | 0.0 |
| 239507 <sup>(5)</sup> | Freddie Mac REMIC Trust 4136 QI, 3.000%, 11/15/2032 | 7654 | 0.0 |
| 197074 <sup>(5)</sup> | Freddie Mac REMIC Trust 4143 IK, 4.000%, 10/15/2041 | 8963 | 0.0 |
| 8478552 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4146 SA, 2.363%, (-1.000\*SOFR30A + 6.036%), 12/15/2042 | 855680 | 0.0 |
| 1198404 <sup>(5)</sup> | Freddie Mac REMIC Trust 4157 IH, 3.500%, 01/15/2043 | 174722 | 0.0 |
| 200320 <sup>(5)</sup> | Freddie Mac REMIC Trust 4162 DI, 2.000%, 02/15/2028 | 2335 | 0.0 |
| 717041 <sup>(5)</sup> | Freddie Mac REMIC Trust 4182 IL, 3.000%, 03/15/2028 | 14559 | 0.0 |
| 1250519 <sup>(5)</sup> | Freddie Mac REMIC Trust 4186 IA, 3.000%, 03/15/2033 | 85786 | 0.0 |
| 14729967 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4273 PS, 2.313%, (-1.000\*SOFR30A + 5.986%), 11/15/2043 | 1112317 | 0.1 |
| 206574 <sup>(5)</sup> | Freddie Mac REMIC Trust 4287 CI, 4.500%, 07/15/2041 | 16930 | 0.0 |
| 1157279 <sup>(5)</sup> | Freddie Mac REMIC Trust 4290 EI, 5.000%, 12/15/2043 | 204695 | 0.0 |
| 48880 <sup>(5)</sup> | Freddie Mac REMIC Trust 4333 AI, 5.500%, 02/15/2044 | 7462 | 0.0 |
| 711782 <sup>(5)</sup> | Freddie Mac REMIC Trust 4494 LI, 5.000%, 12/15/2043 | 37064 | 0.0 |
| 4680000 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4618 SA, 2.213%, (-1.000\*SOFR30A + 5.886%), 09/15/2046 | 495997 | 0.0 |
| 1178217 <sup>(5)</sup> | Freddie Mac REMIC Trust 4625 BI, 3.500%, 06/15/2046 | 206925 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1124364 <sup>(5)</sup> | Freddie Mac REMIC Trust 4708 KI, 4.500%, 11/15/2046 | $168009 | 0.0 |
| 7738738 <sup>(5)</sup> | Freddie Mac REMIC Trust 4813 IO, 5.500%, 08/15/2048 | 1412164 | 0.1 |
| 14643664 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4903 NS, 2.324%, (-1.000\*SOFR30A + 5.986%), 08/25/2049 | 1537026 | 0.1 |
| 9246513 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4909 SJ, 2.274%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | 1162867 | 0.1 |
| 3716555 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4910 SD, 2.263%, (-1.000\*SOFR30A + 5.936%), 06/15/2049 | 457638 | 0.0 |
| 11123558 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4910 SH, 2.274%, (-1.000\*SOFR30A + 5.936%), 09/25/2049 | 1440954 | 0.1 |
| 14919580 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 4924 SY, 2.274%, (-1.000\*SOFR30A + 5.936%), 10/25/2049 | 1962028 | 0.1 |
| 10002931 <sup>(5)</sup> | Freddie Mac REMIC Trust 4967 IQ, 4.000%, 02/25/2050 | 2101458 | 0.1 |
| 35177046 <sup>(5)</sup> | Freddie Mac REMIC Trust 4973 BI, 4.500%, 05/25/2050 | 8103332 | 0.4 |
| 25831882 <sup>(5)</sup> | Freddie Mac REMIC Trust 4974 I, 4.000%, 04/25/2050 | 5295996 | 0.3 |
| 17034739 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac REMIC Trust 5009 TS, 2.424%, (-1.000\*SOFR30A + 6.086%), 09/25/2050 | 2176800 | 0.1 |
| 24113573 <sup>(5)</sup> | Freddie Mac REMIC Trust 5010 MI, 3.000%, 09/25/2050 | 3529234 | 0.2 |
| 14622722 <sup>(5)</sup> | Freddie Mac REMIC Trust 5036 CI, 4.000%, 12/25/2049 | 3017378 | 0.2 |
| 21380933 <sup>(5)</sup> | Freddie Mac REMIC Trust 5049 UI, 3.000%, 12/25/2050 | 3862384 | 0.2 |
| 7623841 <sup>(5)</sup> | Freddie Mac REMIC Trust 5052 BI, 5.000%, 12/25/2050 | 1744986 | 0.1 |
| 11660459 <sup>(5)</sup> | Freddie Mac REMIC Trust 5074 GI, 2.000%, 02/25/2051 | 1298881 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 19318194 <sup>(5)</sup> | Freddie Mac REMIC Trust 5081 CI, 2.000%, 03/25/2051 | $2155361 | 0.1 |
| 33078199 <sup>(5)</sup> | Freddie Mac REMIC Trust 5083 IP, 4.000%, 11/25/2048 | 6947781 | 0.4 |
| 11261897 <sup>(5)</sup> | Freddie Mac REMIC Trust 5133 CI, 4.500%, 07/25/2039 | 1895857 | 0.1 |
| 12971983 <sup>(5)</sup> | Freddie Mac REMIC Trust 5138 CI, 4.000%, 07/25/2050 | 2718296 | 0.1 |
| 9303597 <sup>(5)</sup> | Freddie Mac REMIC Trust 5142 LI, 2.500%, 09/25/2051 | 1511963 | 0.1 |
| 4290630 <sup>(5)</sup> | Freddie Mac REMIC Trust 5152 GI, 4.500%, 06/25/2048 | 985127 | 0.1 |
| 17670761 <sup>(5)</sup> | Freddie Mac REMIC Trust 5214 IO, 2.000%, 03/25/2051 | 2276908 | 0.1 |
| 6963680 <sup>(5)</sup> | Freddie Mac REMIC Trust 5261 IC, 4.000%, 01/25/2050 | 1358395 | 0.1 |
| 34343647 <sup>(3)</sup> | Freddie Mac REMIC Trust 5502 FD, 5.262%, (SOFR30A + 1.600%), 02/25/2055 | 34807568 | 1.7 |
| 5100000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021-DNA6 B1, 7.062%, (SOFR30A + 3.400%), 10/25/2041 | 5156662 | 0.3 |
| 6100000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 7.412%, (SOFR30A + 3.750%), 12/25/2041 | 6199235 | 0.3 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 M2, 6.012%, (SOFR30A + 2.350%), 12/25/2041 | 5036399 | 0.3 |
| 2800000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 7.062%, (SOFR30A + 3.400%), 01/25/2042 | 2852036 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2023-HQA3 M2, 7.012%, (SOFR30A + 3.350%), 11/25/2043 | 2609569 | 0.1 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 5.462%, (SOFR30A + 1.800%), 08/25/2044 | 4012576 | 0.2 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Freddie Mac STACR REMIC Trust 2025-HQA1 M2, 5.312%, (SOFR30A + 1.650%), 02/25/2045 | $2004387 | 0.1 |
| 392308 <sup>(5)</sup> | Freddie Mac Strips 224 IO, 6.000%, 03/01/2033 | 54485 | 0.0 |
| 226631 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac Strips 237 S23, 3.313%, (-1.000\*SOFR30A + 6.986%), 05/15/2036 | 24385 | 0.0 |
| 299251 <sup>(5)</sup> | Freddie Mac Strips 260 33, 4.000%, 05/15/2039 | 43720 | 0.0 |
| 143586 <sup>(5)</sup> | Freddie Mac Strips 287 IO, 3.000%, 10/15/2027 | 1929 | 0.0 |
| 141286 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac Strips 324 144, 6.000%, 06/15/2039 | 24847 | 0.0 |
| 6425177 <sup>(5)</sup> | Freddie Mac Strips 390 C3, 3.500%, 11/15/2037 | 743683 | 0.0 |
| 6789803 <sup>(5)</sup> | Freddie Mac Strips 400 C8, 6.500%, 05/25/2053 | 1292545 | 0.1 |
| 777656 <sup>(5)</sup> | Freddie Mac Strips 405 C30, 4.000%, 12/25/2052 | 161133 | 0.0 |
| 2049662 <sup>(1)</sup><sup>(3)</sup> | Galton Funding Mortgage Trust 2019-1 B1, 4.250%, 02/25/2059 | 1977906 | 0.1 |
| 1647874 <sup>(1)</sup><sup>(3)</sup> | Galton Funding Mortgage Trust 2019-1 B2, 4.500%, 02/25/2059 | 1600549 | 0.1 |
| 1945714 <sup>(1)</sup><sup>(3)</sup> | GCAT Trust 2024-INV2 B3, 7.243%, 06/25/2054 | 2074770 | 0.1 |
| 1964210 <sup>(1)</sup><sup>(3)</sup> | GCAT Trust 2024-INV4 B4, 7.022%, 12/25/2054 | 1997365 | 0.1 |
| 1984225 <sup>(1)</sup><sup>(3)</sup> | GCAT Trust 2025-INV2 B3, 7.020%, 05/25/2055 | 2092499 | 0.1 |
| 995412 <sup>(1)</sup><sup>(3)</sup> | GCAT Trust 2025-INV4 B3, 7.265%, 08/25/2055 | 1067096 | 0.1 |
| 1495063 <sup>(1)</sup><sup>(3)</sup> | GCAT Trust 2025-INV5 B3, 6.608%, 12/25/2055 | 1534865 | 0.1 |
| 2156769 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2007-59 SC, 2.710%, (-1.000\*TSFR1M + 6.386%), 07/20/2037 | 200168 | 0.0 |
| 160315 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2008-40 SA, 2.613%, (-1.000\*TSFR1M + 6.286%), 05/16/2038 | 7538 | 0.0 |
| 92991 <sup>(5)</sup> | Ginnie Mae 2010-143 JI, 4.000%, 08/16/2039 | 1213 | 0.0 |
| 182800 <sup>(5)</sup> | Ginnie Mae 2010-4 IP, 5.000%, 01/16/2039 | 3722 | 0.0 |
| 340407 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2010-4 SL, 2.613%, (-1.000\*TSFR1M + 6.286%), 01/16/2040 | 32140 | 0.0 |
| 902771 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2011-101 BI, 0.650%, (-1.000\*TSFR1M + 6.536%), 11/20/2037 | 19415 | 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)** |
| 73145 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2011-101 EI, 6.000%, (-1.000\*TSFR1M + 106.946%), 10/16/2039 | $13090 | 0.0 |
| 235979 <sup>(5)</sup> | Ginnie Mae 2011-124 KI, 4.000%, 08/20/2039 | 3066 | 0.0 |
| 2250968 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2011-25 AS, 2.270%, (-1.000\*TSFR1M + 5.946%), 02/20/2041 | 150371 | 0.0 |
| 8407 <sup>(5)</sup> | Ginnie Mae 2012-149 BI, 3.500%, 10/20/2041 | 615 | 0.0 |
| 740728 <sup>(5)</sup> | Ginnie Mae 2012-39 PI, 4.000%, 03/16/2042 | 65519 | 0.0 |
| 1968894 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2013-103 DS, 2.360%, (-1.000\*TSFR1M + 6.036%), 07/20/2043 | 197434 | 0.0 |
| 9966577 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2013-130 SB, 1.268%, (-1.000\*TSFR1M + 4.936%), 09/16/2043 | 348298 | 0.0 |
| 3523681 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2013-134 DS, 2.310%, (-1.000\*TSFR1M + 5.986%), 09/20/2043 | 338919 | 0.0 |
| 85203 <sup>(5)</sup> | Ginnie Mae 2013-44 LI, 4.500%, 01/16/2043 | 7799 | 0.0 |
| 228489 <sup>(5)</sup> | Ginnie Mae 2013-81 IO, 4.500%, 01/16/2040 | 8067 | 0.0 |
| 5055027 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2014-58 SM, 2.313%, (-1.000\*TSFR1M + 5.986%), 04/16/2044 | 461969 | 0.0 |
| 1013022 <sup>(5)</sup> | Ginnie Mae 2014-84 PI, 4.500%, 04/20/2043 | 87029 | 0.0 |
| 1078084 <sup>(5)</sup> | Ginnie Mae 2015-132 BI, 4.000%, 11/20/2044 | 127164 | 0.0 |
| 1627974 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2015-69 IL, 0.200%, (-1.000\*TSFR1M + 6.586%), 07/20/2034 | 7532 | 0.0 |
| 115628 <sup>(5)</sup> | Ginnie Mae 2015-94 IU, 4.000%, 08/20/2044 | 14256 | 0.0 |
| 4263281 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2016-66 ES, 2.260%, (-1.000\*TSFR1M + 5.936%), 05/20/2046 | 463869 | 0.0 |
| 207583 <sup>(5)</sup> | Ginnie Mae 2016-8 PI, 4.000%, 10/20/2044 | 19733 | 0.0 |
| 8435331 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2018-125 HS, 2.460%, (-1.000\*TSFR1M + 6.136%), 09/20/2048 | 899587 | 0.0 |
| 3482879 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2018-153 SQ, 2.410%, (-1.000\*TSFR1M + 6.086%), 11/20/2048 | 263753 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 8503850 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2018-93 SJ, 2.410%, (-1.000\*TSFR1M + 6.086%), 07/20/2048 | $752217 | 0.0 |
| 103413 <sup>(5)</sup> | Ginnie Mae 2019-111 TI, 5.000%, 09/20/2049 | 20429 | 0.0 |
| 56723 <sup>(5)</sup> | Ginnie Mae 2019-86 GI, 6.500%, 07/20/2049 | 10737 | 0.0 |
| 253604 <sup>(5)</sup> | Ginnie Mae 2019-86 HI, 5.500%, 07/20/2049 | 57587 | 0.0 |
| 8372308 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2019-89 SC, 2.310%, (-1.000\*TSFR1M + 5.986%), 07/20/2049 | 978007 | 0.1 |
| 16580860 <sup>(5)</sup> | Ginnie Mae 2020-7 EI, 3.500%, 01/20/2050 | 3173949 | 0.2 |
| 18828708 <sup>(5)</sup> | Ginnie Mae 2021-152 ID, 3.000%, 08/20/2051 | 3117798 | 0.2 |
| 34041164 <sup>(5)</sup> | Ginnie Mae 2021-194 IK, 3.000%, 11/20/2051 | 5849823 | 0.3 |
| 17743850 <sup>(3)</sup><sup>(5)</sup> | Ginnie Mae 2022-159 SE, 2.327%, (-1.000\*SOFR30A + 6.000%), 09/20/2052 | 1496000 | 0.1 |
| 14020133 <sup>(5)</sup> | Ginnie Mae 2022-56 IG, 4.500%, 07/20/2050 | 3200334 | 0.2 |
| 17255886 <sup>(5)</sup> | Ginnie Mae 2023-24 ID, 3.500%, 06/20/2050 | 3319567 | 0.2 |
| 8640154 <sup>(3)</sup> | Ginnie Mae 2023-57 S, 5.450%, (-1.000\*SOFR30A + 13.530%), 04/20/2053 | 8141478 | 0.4 |
| 17516140 <sup>(5)</sup> | Ginnie Mae 2023-70 JI, 5.500%, 06/20/2052 | 3156799 | 0.2 |
| 204254 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A1, 3.500%, 05/25/2050 | 184951 | 0.0 |
| 324403 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A4, 3.500%, 05/25/2050 | 292027 | 0.0 |
| 817056 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 A8, 3.500%, 05/25/2050 | 737660 | 0.0 |
| 2082853 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 B2, 3.602%, 05/25/2050 | 1846385 | 0.1 |
| 3288026 <sup>(1)</sup><sup>(3)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 B3, 3.602%, 05/25/2050 | 2905078 | 0.1 |
| 1479646 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ1 B3, 4.009%, 08/25/2049 | 1329020 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 48418 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | $45594 | 0.0 |
| 3286720 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B2, 4.355%, 11/25/2049 | 3061390 | 0.2 |
| 3399596 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.355%, 11/25/2049 | 3140946 | 0.2 |
| 392812 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.965%, 03/25/2050 | 366477 | 0.0 |
| 400651 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.965%, 03/25/2050 | 373789 | 0.0 |
| 1602332 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.406%, 10/25/2050 | 1304984 | 0.1 |
| 1523318 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2021-PJ3 B3, 2.647%, 08/25/2051 | 1225263 | 0.1 |
| 3479544 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Corp. Trust 2021-PJ4 B3, 2.610%, 09/25/2051 | 2905475 | 0.1 |
| 893956 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2021-GR3 B3, 3.374%, 04/25/2052 | 753489 | 0.0 |
| 896238 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2021-GR3 B4, 3.374%, 04/25/2052 | 748580 | 0.0 |
| 2116721 <sup>(1)</sup> | GS Mortgage-Backed Securities Trust 2021-PJ9 A4, 2.500%, 02/26/2052 | 1744559 | 0.1 |
| 2884368 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2023-PJ6 B2, 6.821%, 04/25/2054 | 2973564 | 0.2 |
| 2224112 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ1 B2, 6.926%, 06/25/2054 | 2339435 | 0.1 |
| 1443486 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ2 B3, 5.918%, 07/25/2054 | 1421373 | 0.1 |
| 1923958 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2024-PJ4 B2, 5.774%, 08/25/2054 | 1921414 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 1314944 <sup>(1)</sup><sup>(3)</sup> | GS Mortgage-Backed Securities Trust 2025-PJ1 A19, 6.000%, 06/25/2055 | $1324149 | 0.1 |
| 247611 <sup>(3)</sup> | HarborView Mortgage Loan Trust 2007-5 A1A, 4.171%, (TSFR1M + 0.494%), 09/19/2037 | 219260 | 0.0 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Home Re Ltd. 2026-1 M1C, 6.262%, (SOFR30A + 2.600%), 01/25/2036 | 2005939 | 0.1 |
| 435 <sup>(3)</sup> | HomeBanc Mortgage Trust 2004-1 2A, 4.653%, (TSFR1M + 0.974%), 08/25/2029 | 429 | 0.0 |
| 2695774 <sup>(1)</sup> | HTAP Issuer Trust 2025-1 A, 6.500%, 11/25/2042 | 2687136 | 0.1 |
| 44093 <sup>(3)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 4.213%, (TSFR1M + 0.534%), 04/25/2046 | 41416 | 0.0 |
| 40356 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2019-2 A3, 3.994%, 08/25/2049 | 38097 | 0.0 |
| 917304 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2019-2 B1, 4.443%, 08/25/2049 | 868874 | 0.0 |
| 2222543 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2019-2 B2, 4.443%, 08/25/2049 | 2099604 | 0.1 |
| 879914 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.600%, 06/25/2049 | 842970 | 0.0 |
| 2244908 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.146%, 05/25/2052 | 1853590 | 0.1 |
| 420055 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 422996 | 0.0 |
| 707253 <sup>(3)</sup> | JP Morgan Mortgage Trust 2005-A4 B1, 5.573%, 07/25/2035 | 699643 | 0.0 |
| 69495 | JP Morgan Mortgage Trust 2005-S3 1A10, 6.000%, 01/25/2036 | 31708 | 0.0 |
| 135448 | JP Morgan Mortgage Trust 2006-S2 1A18, 6.000%, 07/25/2036 | 55198 | 0.0 |
| 389145 | JP Morgan Mortgage Trust 2006-S3 1A30, 6.500%, 08/25/2036 | 126465 | 0.0 |
| 784352 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2014-5 B3, 2.526%, 10/25/2029 | 759554 | 0.0 |
| 333639 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2016-1 B3, 3.771%, 05/25/2046 | 318093 | 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)** |
| 2095000 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2016-1 B4, 3.771%, 05/25/2046 | $1578335 | 0.1 |
| 283840 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2016-4 A13, 3.500%, 10/25/2046 | 258571 | 0.0 |
| 657992 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 589415 | 0.0 |
| 1040073 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-3 B1, 3.798%, 08/25/2047 | 964826 | 0.1 |
| 1274842 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-5 B1, 4.702%, 10/26/2048 | 1262073 | 0.1 |
| 454345 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-6 B3, 3.778%, 12/25/2048 | 416034 | 0.0 |
| 1282863 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-6 B4, 3.778%, 12/25/2048 | 1164382 | 0.1 |
| 887565 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2017-6 B5, 3.778%, 12/25/2048 | 713457 | 0.0 |
| 1788275 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-1 B2, 3.573%, 06/25/2048 | 1630170 | 0.1 |
| 1828797 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-3 B3, 3.698%, 09/25/2048 | 1679796 | 0.1 |
| 378055 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.711%, 10/25/2048 | 347206 | 0.0 |
| 77653 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-6 1A10, 3.500%, 12/25/2048 | 70856 | 0.0 |
| 128308 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-8 A3, 4.000%, 01/25/2049 | 119613 | 0.0 |
| 3211607 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-8 B2, 4.042%, 01/25/2049 | 2960765 | 0.2 |
| 805400 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2018-9 B2, 4.235%, 02/25/2049 | 758725 | 0.0 |
| 126508 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | 118366 | 0.0 |
| 247051 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-5 A3, 4.000%, 11/25/2049 | 232783 | 0.0 |
| 2413719 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-5 B1, 4.444%, 11/25/2049 | 2294432 | 0.1 |
| 56258 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-6 A3, 3.500%, 12/25/2049 | 51653 | 0.0 |
| 816814 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-7 B3A, 3.218%, 02/25/2050 | 726704 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 297843 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | $269892 | 0.0 |
| 820732 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-8 B3A, 3.385%, 03/25/2050 | 733461 | 0.0 |
| 189517 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-INV2 A15, 3.500%, 02/25/2050 | 172024 | 0.0 |
| 1262789 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.672%, 12/25/2049 | 1220938 | 0.1 |
| 1280070 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.672%, 12/25/2049 | 1234587 | 0.1 |
| 2322706 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2019-LTV3 B2, 4.360%, 03/25/2050 | 2178900 | 0.1 |
| 10156 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-LTV1 A15, 3.500%, 06/25/2050 | 10114 | 0.0 |
| 52468 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2020-LTV1 A5, 3.500%, 06/25/2050 | 52260 | 0.0 |
| 2900337 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2021-6 B3, 2.830%, 10/25/2051 | 2343483 | 0.1 |
| 2297211 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2022-2 B3, 3.121%, 08/25/2052 | 1877175 | 0.1 |
| 962487 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.156%, 05/25/2054 | 952152 | 0.1 |
| 458863 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-CCM1 A3, 5.500%, 04/25/2055 | 456930 | 0.0 |
| 1408414 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2024-CCM1 B3, 6.512%, 04/25/2055 | 1394472 | 0.1 |
| 1737649 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust 2025-CCM1 B3, 6.083%, 06/25/2055 | 1689468 | 0.1 |
| 1752399 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust Series 2024-4 B2, 7.049%, 10/25/2054 | 1855131 | 0.1 |
| 2649043 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust Series 2024-4 B3, 7.049%, 10/25/2054 | 2756353 | 0.1 |
| 2407213 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Mortgage Trust Series 2024-6 B3, 6.889%, 12/25/2054 | 2510706 | 0.1 |
| 378568 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Trust 2015-3 B3, 3.566%, 05/25/2045 | 355990 | 0.0 |
| 1327529 <sup>(1)</sup><sup>(3)</sup> | JP Morgan Trust 2015-3 B4, 3.566%, 05/25/2045 | 1027966 | 0.1 |
| 42090 <sup>(3)</sup> | Lehman XS Trust Series 2005-5N 1A2, 4.153%, (TSFR1M + 0.474%), 11/25/2035 | 42478 | 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)** |
| 1678625 <sup>(1)</sup><sup>(3)</sup> | Mello Mortgage Capital Acceptance 2021-MTG3 B3, 2.899%, 07/01/2051 | $1374455 | 0.1 |
| 2617749 <sup>(1)</sup><sup>(3)</sup> | Mello Mortgage Capital Acceptance 2022-INV1 B3, 3.313%, 03/25/2052 | 2183727 | 0.1 |
| 879460 <sup>(3)</sup> | Morgan Stanley Mortgage Loan Trust 2006-9AR A2, 4.093%, (TSFR1M + 0.414%), 08/25/2036 | 182771 | 0.0 |
| 975162 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B3, 7.100%, 03/25/2054 | 999309 | 0.1 |
| 978504 <sup>(1)</sup><sup>(3)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 6.943%, 09/25/2054 | 1011616 | 0.1 |
| 196271 <sup>(1)</sup><sup>(3)</sup> | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 194767 | 0.0 |
| 1300000 <sup>(1)</sup><sup>(3)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.012%, (SOFR30A + 3.350%), 04/25/2034 | 1313171 | 0.1 |
| 131544 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2019-EXP3 1A9, 3.500%, 10/25/2059 | 124214 | 0.0 |
| 252996 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2019-INV2 A25, 4.000%, 05/27/2049 | 236328 | 0.0 |
| 196997 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2020-INV1 A21, 3.500%, 12/25/2049 | 177475 | 0.0 |
| 1584222 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 1300269 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2022-NQM4 A1B, 3.900%, 04/25/2062 | 2393312 | 0.1 |
| 1570051 <sup>(1)</sup><sup>(3)</sup> | OBX Trust 2025-J2 A19, 5.500%, 09/25/2055 | 1557860 | 0.1 |
| 1985663 <sup>(1)</sup><sup>(3)</sup> | Oceanview Mortgage Trust 2021-1 B3, 2.718%, 05/25/2051 | 1606031 | 0.1 |
| 1944505 <sup>(1)</sup><sup>(3)</sup> | PMT Loan Trust 2025-INV12 A29, 5.500%, 12/25/2056 | 1930240 | 0.1 |
| 840397 <sup>(1)</sup><sup>(3)</sup> | PMT Loan Trust 2025-J3 A29, 5.500%, 11/27/2056 | 831631 | 0.0 |
| 922695792 <sup>(1)</sup><sup>(5)</sup> | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | 5671396 | 0.3 |
| 10634 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 9459 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 121950 <sup>(1)</sup><sup>(3)</sup> | PSMC Trust 2019-3 A12, 3.500%, 11/25/2049 | $112773 | 0.0 |
| 1990588 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2019-1 B2A, 3.898%, 09/25/2049 | 1830262 | 0.1 |
| 1408018 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2020-1 B2A, 3.470%, 02/25/2050 | 1273199 | 0.1 |
| 5009152 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2021-6 B3, 2.791%, 12/25/2051 | 4025951 | 0.2 |
| 772494 <sup>(1)</sup><sup>(3)</sup> | RCKT Mortgage Trust 2022-3 A21, 3.000%, 05/25/2052 | 664638 | 0.0 |
| 3115275 <sup>(1)</sup> | Redwood Funding Trust 2025-3 A, 6.231%, 12/27/2056 | 3144873 | 0.2 |
| 555136 <sup>(1)</sup> | Sequoia Mortgage Trust 2013-9 B2, 3.500%, 07/25/2043 | 535689 | 0.0 |
| 1024295 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2017-1 B2, 3.601%, 02/25/2047 | 971007 | 0.1 |
| 957917 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2018-6 B1, 4.166%, 07/25/2048 | 920922 | 0.1 |
| 430397 <sup>(1)</sup> | Sequoia Mortgage Trust 2018-CH1 B2B, 4.434%, 03/25/2048 | 411734 | 0.0 |
| 1715613 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-5 B2, 3.707%, 12/25/2049 | 1579377 | 0.1 |
| 1716402 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-5 B3, 3.707%, 12/25/2049 | 1572937 | 0.1 |
| 639238 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-CH1 B2B, 4.912%, 03/25/2049 | 626969 | 0.0 |
| 115156 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-CH3 A13, 4.000%, 09/25/2049 | 108414 | 0.0 |
| 1652558 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2019-CH3 B1B, 4.499%, 09/25/2049 | 1584080 | 0.1 |
| 146481 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-1 A1, 3.500%, 02/25/2050 | 134562 | 0.0 |
| 1271148 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2020-2 B3, 3.626%, 03/25/2050 | 1134731 | 0.1 |
| 1122766 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2021-5 B3, 3.048%, 07/25/2051 | 941560 | 0.1 |
| 1532130 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 1537684 | 0.1 |
| 853368 <sup>(1)</sup> | Sequoia Mortgage Trust 2024-4 A19, 6.000%, 05/25/2054 | 859341 | 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)** |
| 906206 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | $899962 | 0.0 |
| 1361300 <sup>(1)</sup> | Sequoia Mortgage Trust 2025-1 A19, 6.000%, 01/25/2055 | 1370829 | 0.1 |
| 1907519 <sup>(1)</sup><sup>(3)</sup> | Sequoia Mortgage Trust 2025-10 A28, 6.000%, 11/25/2055 | 1918487 | 0.1 |
| 2251642 <sup>(1)</sup><sup>(3)</sup> | Shellpoint Co.-Originator Trust 2017-2 B3, 3.615%, 10/25/2047 | 2090278 | 0.1 |
| 1698478 <sup>(1)</sup><sup>(3)</sup> | Shellpoint Co-Originator Trust 2017-2 B2, 3.615%, 10/25/2047 | 1583216 | 0.1 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | Splitero Trust 2025-1 A1, 5.750%, 12/25/2055 | 3932718 | 0.2 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 1577654 | 0.1 |
| 15165 <sup>(3)</sup> | Structured Adjustable Rate Mortgage Loan Trust Series 2005-4 3A1, 5.238%, 03/25/2035 | 13872 | 0.0 |
| 2303237 <sup>(1)</sup><sup>(3)</sup> | UWM Mortgage Trust 2021-INV4 B3, 3.213%, 12/25/2051 | 1897260 | 0.1 |
| 46411604 <sup>(3)</sup><sup>(5)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR1 X, 0.252%, 01/25/2045 | 466 | 0.0 |
| 17896297 <sup>(3)</sup><sup>(5)</sup> | WaMu Mortgage Pass-Through Certificates 2005-AR2 X, 0.141%, 01/25/2045 | 180 | 0.0 |
| 8607 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.494%, 10/25/2036 | 8114 | 0.0 |
| 42934 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR12 2A3, 3.660%, 10/25/2036 | 39489 | 0.0 |
| 223771 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2006-AR14 1A4, 3.988%, 11/25/2036 | 203780 | 0.0 |
| 57854 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.108%, 12/25/2036 | 53501 | 0.0 |
| 288091 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates 2007-HY3 1A1, 3.639%, 03/25/2037 | 244155 | 0.0 |
| 399370 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series 2004-AR7 A6, 5.239%, 07/25/2034 | 380788 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **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)** |
| 79450 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2004-AR4 A6, 5.373%, 06/25/2034 | $78005 | 0 |
| 58227 <sup>(3)</sup> | WaMu Mortgage Pass-Through Certificates Series Trust 2006-AR14 1A3, 3.988%, 11/25/2036 | 53025 | 0 |
| 336084 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 4.693%, (TSFR1M + 1.014%), 11/25/2035 | 305155 | 0 |
| 371464 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | 350252 | 0 |
| 502834 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-5 2CB2, 4.393%, (TSFR1M + 0.714%), 07/25/2036 | 320866 | 0 |
| 1413643 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR5 3A, 4.799%, (12MTA + 0.940%), 07/25/2046 | 883245 | 0 |
| 586618 <sup>(3)</sup> | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 4.819%, (12MTA + 0.960%), 08/25/2046 | 344140 | 0 |
| 356302 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-10 2A9, 6.000%, 11/25/2035 | 341830 | 0 |
| 74066 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | 64427 | 0 |
| 15405 <sup>(3)</sup> | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 4.223%, (TSFR1M + 0.544%), 06/25/2037 | 13556 | 0 |
| 263167 <sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2006-AR12 1A1, 6.768%, 09/25/2036 | 240614 | 0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 50577 <sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2007-AR7 A1, 6.024%, 12/28/2037 | $| 46099 | 0.0 |
| 1365350 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.512%, 09/25/2049 |  | 957137 | 0.1 |
| 1710491 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.362%, 12/25/2049 |  | 1507279 | 0.1 |
| 2494097 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-4 B2, 3.140%, 07/25/2050 |  | 2252672 | 0.1 |
| 1749668 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Mortgage Backed Securities Trust 2021-1 B3, 2.700%, 12/25/2050 |  | 1329938 | 0.1 |
| 281502 <sup>(1)</sup><sup>(3)</sup> | WinWater Mortgage Loan Trust 2015-5 B4, 3.757%, 08/20/2045 |  | 260598 | 0.0 |
|  | Total Collateralized Mortgage Obligations <br> (Cost $548,657,992) |  | **526381698** | **26.2** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.5%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.5%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.5%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.5%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 14.5%** |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | ACREC LLC 2026-FL4 A, 5.130%, (TSFR1M + 1.450%), 01/18/2043 |  | 5009481 | 0.3 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | ARDN Mortgage Trust 2025-ARCP A, 5.423%, (TSFR1M + 1.750%), 06/15/2035 |  | 4988316 | 0.2 |
| 593187 <sup>(1)</sup><sup>(3)</sup> | AREIT LLC 2023-CRE8 A, 5.790%, (TSFR1M + 2.112%), 08/17/2041 |  | 593932 | 0.0 |
| 3500000 <sup>(1)</sup><sup>(3)</sup> | ARES1 2024-IND2 A, 5.116%, (TSFR1M + 1.443%), 10/15/2034 |  | 3504064 | 0.2 |
| 1500000 <sup>(1)</sup> | ARZ Trust 2024-BILT C, 6.361%, 06/11/2039 |  | 1514952 | 0.1 |
| 3400000 <sup>(1)</sup> | Atrium Hotel Portfolio Trust 2024-ATRM B, 5.501%, 11/10/2029 |  | 3453559 | 0.2 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | BAHA Trust 2024-MAR B, 6.385%, 12/10/2041 |  | 2580434 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BAMLL Trust 2025-ASHF A, 5.523%, (TSFR1M + 1.850%), 02/15/2042 |  | 1994469 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | BAMLL Trust 2025-ASHF B, 6.023%, (TSFR1M + 2.350%), 02/15/2042 |  | 998693 | 0.1 |
| 685000 <sup>(3)</sup> | BANK 2017-BNK4 C, 4.372%, 05/15/2050 |  | 609537 | 0.0 |
| 8862235 <sup>(3)</sup><sup>(5)</sup> | BANK 2019-BN16 XA, 0.929%, 02/15/2052 |  | 170669 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 47710688 <sup>(3)</sup><sup>(5)</sup> | BANK 2019-BN17 XA, 0.998%, 04/15/2052 | $1155450 | 0.1 |
| 56702305 <sup>(3)</sup><sup>(5)</sup> | BANK 2019-BN22 XA, 0.579%, 11/15/2062 | 1024095 | 0.1 |
| 2500000 <sup>(3)</sup> | BANK5 2024-5YR10 C, 5.743%, 10/15/2057 | 2483321 | 0.1 |
| 9575308 <sup>(3)</sup><sup>(5)</sup> | BBCMS Trust 2021-C10 XA, 1.194%, 07/15/2054 | 446071 | 0 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BDS LLC 2024-FL13 A, 5.253%, (TSFR1M + 1.576%), 09/19/2039 | 2003979 | 0.1 |
| 417233 <sup>(1)</sup><sup>(3)</sup> | BDS Ltd. 2021-FL10 A, 5.144%, (TSFR1M + 1.464%), 12/16/2036 | 417277 | 0 |
| 93046439 <sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2018-B7 XA, 0.392%, 05/15/2053 | 698053 | 0 |
| 43200958 <sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2019-B10 XA, 1.208%, 03/15/2062 | 1320394 | 0.1 |
| 42285000 <sup>(1)</sup><sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2019-B10 XB, 0.902%, 03/15/2062 | 1029657 | 0.1 |
| 37410513 <sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2019-B12 XA, 1.016%, 08/15/2052 | 854005 | 0 |
| 3090000 <sup>(1)</sup> | Benchmark Mortgage Trust 2019-B9 D, 3.000%, 03/15/2052 | 2117774 | 0.1 |
| 950000 <sup>(3)</sup> | Benchmark Mortgage Trust 2020-B16 AM, 2.944%, 02/15/2053 | 865839 | 0 |
| 16285046 <sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2021-B24 XA, 1.128%, 03/15/2054 | 629777 | 0 |
| 9375562 <sup>(3)</sup><sup>(5)</sup> | Benchmark Mortgage Trust 2021-B28 XA, 1.236%, 08/15/2054 | 437983 | 0 |
| 1000000 <sup>(3)</sup> | Benchmark Mortgage Trust 2025-V17 C, 5.873%, 09/15/2058 | 1003596 | 0.1 |
| 2000000 | Benchmark Mortgage Trust 2025-V18 C, 6.139%, 10/15/2058 | 1996724 | 0.1 |
| 1853994 <sup>(1)</sup><sup>(3)</sup> | BFLD Mortgage Trust 2024-WRHS A, 5.165%, (TSFR1M + 1.492%), 07/15/2039 | 1856121 | 0.1 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | BHMS Commercial Mortgage Trust 2025-ATLS B, 6.223%, (TSFR1M + 2.550%), 08/15/2042 | 5012431 | 0.3 |
| 2653000 <sup>(1)</sup><sup>(6)</sup> | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | 2351666 | 0.1 |
| 4100000 <sup>(1)</sup><sup>(3)</sup> | BMP 2024-MF23 C, 5.514%, (TSFR1M + 1.841%), 06/15/2041 | 4104250 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Brspl3 Ltd. 2026-FL3 A, 5.127%, (TSFR1M + 1.450%), 08/19/2043 | $2503097 | 0.1 |
| 2650000 <sup>(1)</sup><sup>(3)</sup> | Brspl3 Ltd. 2026-FL3 AS, 5.377%, (TSFR1M + 1.700%), 08/19/2043 | 2654709 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | BSPRT Issuer LLC 2025-FL12 A, 5.064%, (TSFR1M + 1.386%), 01/17/2043 | 999715 | 0.1 |
| 2391012 <sup>(1)</sup><sup>(3)</sup> | BX 2024-BRVE A, 5.514%, (TSFR1M + 1.841%), 04/15/2041 | 2394796 | 0.1 |
| 4326923 <sup>(1)</sup><sup>(3)</sup> | BX 2024-PALM A, 5.214%, (TSFR1M + 1.541%), 06/15/2037 | 4329171 | 0.2 |
| 4970000 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2021-21M E, 5.958%, (TSFR1M + 2.285%), 10/15/2036 | 4969965 | 0.2 |
| 1974013 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-KING A, 5.214%, (TSFR1M + 1.541%), 05/15/2034 | 1976188 | 0.1 |
| 1328182 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-MF D, 6.362%, (TSFR1M + 2.690%), 02/15/2039 | 1330759 | 0.1 |
| 1598366 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-XL4 A, 5.115%, (TSFR1M + 1.442%), 02/15/2039 | 1602158 | 0.1 |
| 1198775 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-XL4 C, 5.863%, (TSFR1M + 2.191%), 02/15/2039 | 1203221 | 0.1 |
| 4550000 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2024-XL5 C, 5.613%, (TSFR1M + 1.941%), 03/15/2041 | 4557772 | 0.2 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BX Commercial Mortgage Trust 2026-VLT9 A, 5.373%, (TSFR1M + 1.700%), 03/15/2045 | 1994208 | 0.1 |
| 3500000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2021-LBA EJV, 6.037%, (TSFR1M + 2.364%), 02/15/2036 | 3497350 | 0.2 |
| 2767834 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2021-LBA EV, 6.037%, (TSFR1M + 2.364%), 02/15/2036 | 2765739 | 0.1 |
| 845329 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2021-RISE B, 5.037%, (TSFR1M + 1.364%), 11/15/2036 | 845260 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1391964 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2021-SDMF E, 5.374%, (TSFR1M + 1.701%), 09/15/2034 | $1390532 | 0.1 |
| 1141538 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2022-VAMF F, 6.972%, (TSFR1M + 3.299%), 01/15/2039 | 1138447 | 0.1 |
| 1283331 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2024-CNYN C, 5.614%, (TSFR1M + 1.941%), 04/15/2041 | 1284274 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2024-VLT4 A, 5.164%, (TSFR1M + 1.491%), 06/15/2041 | 1492484 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2025-DELC A, 5.223%, (TSFR1M + 1.550%), 12/15/2042 | 2004861 | 0.1 |
| 2440039 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2025-ROIC C, 5.216%, (TSFR1M + 1.543%), 03/15/2030 | 2422571 | 0.1 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2025-VLT6 C, 5.865%, (TSFR1M + 2.192%), 03/15/2042 | 4960551 | 0.2 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2025-VOLT C, 6.023%, (TSFR1M + 2.350%), 12/15/2044 | 4981160 | 0.2 |
| 2400000 <sup>(1)</sup><sup>(3)</sup> | BX Trust 2026-CART A, 4.723%, (TSFR1M + 1.050%), 02/15/2036 | 2382943 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | BXMT Ltd. 2026-FL6 A, 5.127%, (TSFR1M + 1.450%), 08/19/2043 | 1000438 | 0.1 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | Caliun 2024-SUN A, 5.560%, (TSFR1M + 1.891%), 07/15/2041 | 4005639 | 0.2 |
| 1660000 <sup>(3)</sup> | Cantor Commercial Real Estate Lending 2019-CF1 B, 4.178%, 05/15/2052 | 1503173 | 0.1 |
| 30167787 <sup>(3)</sup><sup>(5)</sup> | Cantor Commercial Real Estate Lending 2019-CF2 XA, 1.133%, 11/15/2052 | 945632 | 0 |
| 1250000 <sup>(3)</sup> | CCUBS Commercial Mortgage Trust 2017-C1 B, 4.159%, 11/15/2050 | 1196665 | 0.1 |
| 76730 | CD Mortgage Trust 2016-CD1 XA, 1.330%, 08/10/2049 | 268 | 0 |
| 164919 | Citigroup Commercial Mortgage Trust 2015-GC31 A4, 3.762%, 06/10/2048 | 161901 | 0 |
| 8616156 <sup>(3)</sup><sup>(5)</sup> | COMM Mortgage Trust 2016-COR1 XA, 1.285%, 10/10/2049 | 24164 | 0 |
| 1500000 <sup>(3)</sup> | COMM Mortgage Trust 2017-COR2 B, 4.206%, 09/10/2050 | 1456355 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 3013114 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)</sup><sup>(3)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | $3051844 | 0.2 |
| 36699 | Commercial Mortgage Pass Through Certificates 2012-LTRT XA, 0.783%, 10/05/2030 | 38 | 0.0 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | CONE Trust 2024-DFW1 A, 5.314%, (TSFR1M + 1.642%), 08/15/2041 | 1491351 | 0.1 |
| 2200000 <sup>(3)</sup> | CSAIL Commercial Mortgage Trust 2020-C19 B, 3.476%, 03/15/2053 | 1810470 | 0.1 |
| 3650000 <sup>(1)</sup><sup>(3)</sup> | DC Trust 2024-HLTN A, 5.727%, 04/13/2040 | 3667615 | 0.2 |
| 2750000 <sup>(1)</sup><sup>(3)</sup> | DK Trust 2024-SPBX D, 6.423%, (TSFR1M + 2.750%), 03/15/2034 | 2755572 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | DTP Commercial Mortgage Trust 2023-STE2 A, 5.454%, 01/15/2041 | 2024802 | 0.1 |
| 2000000 <sup>(1)</sup> | ELM Trust 2024-ELM C15, 5.777%, 06/10/2039 | 2005589 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | Extended Stay America Trust 2025-ESH D, 6.273%, (TSFR1M + 2.600%), 10/15/2042 | 1505592 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Extended Stay America Trust 2025-ESH E, 7.023%, (TSFR1M + 3.350%), 10/15/2042 | 2008708 | 0.1 |
| 1981358 <sup>(1)</sup><sup>(3)</sup> | Extended Stay America Trust 2026-ESH2 D, 5.923%, (TSFR1M + 2.250%), 02/15/2043 | 1990240 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU D, 6.273%, (TSFR1M + 2.600%), 12/15/2039 | 2511360 | 0.1 |
| 2412358 <sup>(3)</sup><sup>(5)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 0.978%, 08/25/2036 | 170297 | 0.0 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.062%, (TSFR1M + 1.385%), 08/19/2042 | 5000129 | 0.2 |
| 4690000 <sup>(1)</sup> | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.938%, 11/27/2050 | 4371595 | 0.2 |
| 210287 <sup>(1)</sup><sup>(6)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 206532 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Great Wolf Trust 2024-WOLF D, 6.563%, (TSFR1M + 2.890%), 03/15/2039 | $2510173 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Greystone CRE Notes LLC 2025-FL4 A, 5.154%, (TSFR1M + 1.481%), 01/15/2043 | 2501021 | 0.1 |
| 500000 <sup>(3)</sup> | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | 464921 | 0 |
| 30081303 <sup>(3)</sup><sup>(5)</sup> | GS Mortgage Securities Trust 2019-GC40 XA, 1.098%, 07/10/2052 | 851900 | 0 |
| 660000 | GS Mortgage Securities Trust 2019-GSA1 B, 3.511%, 11/10/2052 | 610054 | 0 |
| 80032599 <sup>(3)</sup><sup>(5)</sup> | GS Mortgage Securities Trust 2019-GSA1 XA, 0.800%, 11/10/2052 | 1811198 | 0.1 |
| 1800000 <sup>(1)</sup><sup>(3)</sup> | GSJP Trust 2025-BEDS A, 5.173%, (TSFR1M + 1.500%), 12/15/2042 | 1791434 | 0.1 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | GSMS Trustair 2024-FAIR A, 5.484%, 07/15/2029 | 5085574 | 0.3 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | HLTN Commercial Mortgage Trust 2024-DPLO A, 5.314%, (TSFR1M + 1.642%), 06/15/2041 | 1001201 | 0.1 |
| 5300000 <sup>(1)</sup><sup>(3)</sup> | HTL Commercial Mortgage Trust 2024-T53 A, 5.876%, 05/10/2039 | 5343021 | 0.3 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | INTOWN Mortgage Trust 2025-STAY D, 6.523%, (TSFR1M + 2.850%), 03/15/2042 | 3999808 | 0.2 |
| 3002793 <sup>(1)</sup><sup>(3)</sup> | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-MFP E, 5.880%, (TSFR1M + 2.207%), 07/15/2036 | 2116969 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | KIND Commercial Mortgage Trust 2024-1 A, 5.563%, (TSFR1M + 1.890%), 08/15/2041 | 2001663 | 0.1 |
| 4456048 <sup>(1)</sup><sup>(3)</sup> | KSL Commercial Mortgage Trust 2024-HT2 B, 5.714%, (TSFR1M + 2.042%), 12/15/2039 | 4455396 | 0.2 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 A, 5.063%, (TSFR1M + 1.385%), 08/17/2042 | 2000134 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 8494762 <sup>(1)</sup><sup>(3)</sup><sup>(5)</sup> | LSTAR Commercial Mortgage Trust 2017-5 X, 0.869%, 03/10/2050 | $24565 | 0.0 |
| 2750000 <sup>(1)</sup><sup>(3)</sup> | LSTR Trust 2026-HTL6 A, 5.173%, (TSFR1M + 1.500%), 12/15/2040 | 2743356 | 0.1 |
| 1224652 <sup>(1)</sup><sup>(3)</sup> | MCR Mortgage Trust 2024-HTL D, 7.578%, (TSFR1M + 3.905%), 02/15/2037 | 1223156 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | MED Commercial Mortgage Trust 2024-MOB A, 5.264%, (TSFR1M + 1.592%), 05/15/2041 | 993231 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | MF1 LLC 2025-FL17 A, 5.000%, (TSFR1M + 1.320%), 02/18/2040 | 3001993 | 0.2 |
| 2560000 <sup>(1)</sup><sup>(3)</sup> | MHP 2022-MHIL E, 6.283%, (TSFR1M + 2.611%), 01/15/2039 | 2561188 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | MHP Commercial Mortgage Trust 2025-MHIL2 D, 6.323%, (TSFR1M + 2.650%), 09/15/2040 | 1494318 | 0.1 |
| 30039070 <sup>(3)</sup><sup>(5)</sup> | Morgan Stanley Capital I 2017-HR2 XA, 0.846%, 12/15/2050 | 397690 | 0.0 |
| 1650000 <sup>(1)</sup><sup>(3)</sup> | MTN Commercial Mortgage Trust 2022-LPFL A, 5.077%, (TSFR1M + 1.397%), 03/15/2039 | 1649526 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | NYC Commercial Mortgage Trust 2025-3BP A, 4.885%, (TSFR1M + 1.213%), 02/15/2042 | 2982476 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | NYC Commercial Mortgage Trust 2025-3BP C, 5.565%, (TSFR1M + 1.892%), 02/15/2042 | 1496452 | 0.1 |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | ORL Trust 2024-GLKS C, 5.964%, (TSFR1M + 2.291%), 12/15/2039 | 5015467 | 0.3 |
| 871143 <sup>(1)</sup><sup>(3)</sup> | PFP Ltd. 2024-11 A, 5.501%, (TSFR1M + 1.832%), 09/17/2039 | 873044 | 0.0 |
| 13000000 <sup>(1)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 12493534 | 0.6 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | PRM Trust 2025-PRM6 C, 5.008%, 07/05/2033 | 993560 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | PRM Trust 2025-PRM6 D, 5.677%, 07/05/2033 | 1989549 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | PRM7 Trust 2025-PRM7 D, 5.661%, 11/10/2042 | 1969548 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 8030000 <sup>(1)</sup><sup>(3)</sup> | RFM Reremic Trust 2022-FRR1 AB64, 2.168%, 03/01/2050 | $7722301 | 0.4 |
| 1750000 <sup>(1)</sup><sup>(6)</sup> | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 1670003 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | SHR Trust 2024-LXRY A, 5.623%, (TSFR1M + 1.950%), 10/15/2041 | 2500828 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | SMRT 2022-MINI E, 6.373%, (TSFR1M + 2.700%), 01/15/2039 | 2990514 | 0.1 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | SPGN Trust 2026-TFLM A, 4.973%, (TSFR1M + 1.300%), 02/15/2041 | 3983563 | 0.2 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | STWD LLC 2025-FL4 B, 5.627%, (TSFR1M + 1.950%), 11/19/2042 | 1000248 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | SWCH Commercial Mortgage Trust 2025-DATA B, 5.515%, (TSFR1M + 1.842%), 02/15/2042 | 2469585 | 0.1 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | SWCH Commercial Mortgage Trust 2025-DATA C, 5.765%, (TSFR1M + 2.092%), 02/15/2042 | 2466231 | 0.1 |
| 4168239 <sup>(1)</sup> | THPT Mortgage Trust 2023-THL A, 6.996%, 12/10/2034 | 4199338 | 0.2 |
| 20763682 <sup>(3)</sup><sup>(5)</sup> | UBS Commercial Mortgage Trust 2019-C16 XA, 1.518%, 04/15/2052 | 717414 | 0.0 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | VTR Commercial Mortgage Trust 2025-STEM A, 4.698%, 10/13/2039 | 2975601 | 0.1 |
| 1000000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | 960619 | 0.0 |
| 2588000 | Wells Fargo Commercial Mortgage Trust 2019-C49 B, 4.546%, 03/15/2052 | 2521922 | 0.1 |
| 2500000 <sup>(1)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C59 E, 2.500%, 04/15/2054 | 1702973 | 0.1 |
| 18671683 <sup>(3)</sup><sup>(5)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C59 XA, 1.479%, 04/15/2054 | 989942 | 0.1 |
| 2000000 <sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-5C5 C, 6.014%, 07/15/2058 | 2006864 | 0.1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-B33RP A, 5.023%, (TSFR1M + 1.350%), 08/15/2042 | $| 5000474 | 0.2 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT C, 5.445%, 03/15/2038 |  | 2004648 | 0.1 |
|  | Total Commercial Mortgage-Backed Securities <br> (Cost $290,894,990) |  | **291117771** | **14.5** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.0%** |
|  | **Government National Mortgage Association: 8.9%** | **Government National Mortgage Association: 8.9%** | **Government National Mortgage Association: 8.9%** | **Government National Mortgage Association: 8.9%** |
| 5000000 <sup>(4)</sup> | 4.000%, 04/20/2056 |  | 4684443 | 0.2 |
| 3600000 <sup>(4)</sup> | 4.500%, 04/20/2053 |  | 3478369 | 0.2 |
| 134705 | 6.000%, 02/20/2055 |  | 139246 | 0 |
| 2075779 | 6.000%, 12/20/2064 |  | 2121374 | 0.1 |
| 659131 | 6.000%, 02/20/2065 |  | 673609 | 0 |
| 1796789 | 6.000%, 05/20/2065 |  | 1836257 | 0.1 |
| 1860068 | 6.000%, 05/20/2065 |  | 1900927 | 0.1 |
| 611209 | 6.500%, 12/20/2054 |  | 644832 | 0 |
| 2245159 | 6.500%, 02/20/2055 |  | 2391689 | 0.1 |
| 4004813 | 6.500%, 02/20/2055 |  | 4268620 | 0.2 |
| 21176280 | 6.500%, 02/20/2055 |  | 22737318 | 1.1 |
| 1339943 | 6.500%, 03/20/2055 |  | 1429016 | 0.1 |
| 1725661 | 6.500%, 03/20/2055 |  | 1840376 | 0.1 |
| 877243 | 6.500%, 04/20/2055 |  | 921268 | 0 |
| 1148805 | 6.500%, 04/20/2055 |  | 1220667 | 0.1 |
| 1705394 | 6.500%, 04/20/2055 |  | 1807440 | 0.1 |
| 46700000 <sup>(4)</sup> | 6.500%, 04/20/2055 |  | 48539379 | 2.4 |
| 5128173 | 6.500%, 08/20/2055 |  | 5545639 | 0.3 |
| 1028336 | 6.500%, 09/20/2055 |  | 1084751 | 0.1 |
| 37948065 | 6.500%, 09/20/2055 |  | 40762772 | 2 |
| 134790 | 6.500%, 10/20/2064 |  | 140770 | 0 |
| 172186 | 6.500%, 03/20/2065 |  | 179825 | 0 |
| 322622 | 6.500%, 04/20/2065 |  | 336935 | 0 |
| 2865881 | 6.500%, 04/20/2065 |  | 2993029 | 0.2 |
| 93109 | 6.500%, 05/20/2065 |  | 97240 | 0 |
| 976393 | 6.500%, 05/20/2065 |  | 1019712 | 0.1 |
| 1070298 | 6.500%, 05/20/2065 |  | 1117781 | 0.1 |
| 17942125 | 6.500%, 05/20/2065 |  | 18738149 | 0.9 |
| 1406590 | 6.500%, 06/20/2065 |  | 1468995 | 0.1 |
| 1816485 | 6.500%, 06/20/2065 |  | 1897075 | 0.1 |
| 2397470 | 6.500%, 07/20/2065 |  | 2503837 | 0.1 |
|  |  |  | **178521340** | **8.9** |
|  | **Uniform Mortgage-Backed Securities: 1.1%** | **Uniform Mortgage-Backed Securities: 1.1%** | **Uniform Mortgage-Backed Securities: 1.1%** | **Uniform Mortgage-Backed Securities: 1.1%** |
| 3000000 <sup>(4)</sup> | 4.500%, 04/01/2056 |  | 2895720 | 0.1 |
| 19278000 <sup>(4)</sup> | 5.000%, 04/01/2056 |  | 19015068 | 1 |
| 2140 | 5.500%, 10/01/2039 |  | 2201 | 0 |
|  |  |  | **21912989** | **1.1** |
|  | Total U.S. Government Agency Obligations <br> (Cost $198,016,737) |  | **200434329** | **10.0** |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **ASSET-BACKED SECURITIES: 9.5%** | **ASSET-BACKED SECURITIES: 9.5%** | **ASSET-BACKED SECURITIES: 9.5%** | **ASSET-BACKED SECURITIES: 9.5%** |
|  | **Home Equity Asset-Backed Securities: 0.6%** | **Home Equity Asset-Backed Securities: 0.6%** | **Home Equity Asset-Backed Securities: 0.6%** |
| 1514850 <sup>(1)</sup><sup>(3)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 | $1244095 | 0.1 |
| 2737870 <sup>(1)</sup><sup>(3)</sup> | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A3, 7.250%, 02/25/2038 | 2062685 | 0.1 |
| 259987 <sup>(3)</sup> | GSAA Home Equity Trust 2006-3 A3, 4.393%, (TSFR1M + 0.714%), 03/25/2036 | 122841 | 0.0 |
| 1710491 <sup>(3)</sup> | GSAA Home Equity Trust 2006-4 4A3, 3.972%, 03/25/2036 | 1014535 | 0.1 |
| 764419 <sup>(3)</sup> | GSAA Home Equity Trust 2007-1 1A1, 3.953%, (TSFR1M + 0.274%), 02/25/2037 | 209358 | 0.0 |
| 740778 <sup>(3)</sup> | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | 250666 | 0.0 |
| 647799 <sup>(3)</sup> | Morgan Stanley Mortgage Loan Trust 2007-10XS A2, 6.250%, 02/25/2037 | 362494 | 0.0 |
| 286882 <sup>(3)</sup> | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 4.253%, (TSFR1M + 0.574%), 02/25/2037 | 262901 | 0.0 |
| 884533 <sup>(1)</sup> | Unlock HEA Trust 2024-2 A, 6.500%, 10/25/2039 | 882815 | 0.0 |
| 2841021 <sup>(1)</sup> | Unlock HEA Trust 2025-1 A, 6.750%, 07/25/2041 | 2851637 | 0.1 |
| 3436104 <sup>(1)</sup> | Unlock HEA Trust 2025-2 A, 6.000%, 11/25/2041 | 3405203 | 0.2 |
|  |  | **12669230** | **0.6** |
|  | **Other Asset-Backed Securities: 8.2%** | **Other Asset-Backed Securities: 8.2%** | **Other Asset-Backed Securities: 8.2%** |
| 2950000 <sup>(1)</sup><sup>(3)</sup> | AB BSL CLO 3 Ltd. 2021-3A D1R, 6.318%, (TSFR3M + 2.650%), 04/20/2038 | 2856659 | 0.1 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | AMMC CLO 25 Ltd. 2022-25A CR2, 5.622%, (TSFR3M + 1.950%), 10/15/2038 | 1502832 | 0.1 |
| 1800000 <sup>(1)</sup> | Applebee's Funding LLC / IHOP Funding LLC 2025-1A A2, 6.720%, 06/07/2055 | 1802736 | 0.1 |
| 139422 <sup>(1)</sup> | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 | 135845 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)</sup><sup>(3)</sup> | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 D, 6.687%, (TSFR1M + 3.014%), 11/15/2036 | $500835 | 0.0 |
| 1030000 <sup>(1)</sup><sup>(3)</sup> | Bain Capital Credit CLO Ltd. 2017-2A CR3, 5.868%, (TSFR3M + 2.200%), 07/25/2037 | 1030605 | 0.1 |
| 3600000 <sup>(1)</sup><sup>(3)</sup> | Bain Capital Credit CLO Ltd. 2024-1A CR, 5.431%, (TSFR3M + 1.750%), 04/16/2039 | 3596548 | 0.2 |
| 7000000 <sup>(1)</sup><sup>(3)</sup> | Ballyrock CLO 20 Ltd. 2022-20A BR3, 5.322%, (TSFR3M + 1.650%), 10/15/2036 | 6951364 | 0.3 |
| 3500000 <sup>(1)</sup><sup>(3)</sup> | Ballyrock Clo 29 Ltd. 2025-29A B, 5.618%, (TSFR3M + 1.950%), 07/25/2038 | 3503804 | 0.2 |
| 7000000 <sup>(1)</sup><sup>(3)</sup> | Benefit Street Partners CLO V-B Ltd. 2018-5BA CR, 5.818%, (TSFR3M + 2.150%), 07/20/2037 | 7009464 | 0.4 |
| 3050000 <sup>(1)</sup><sup>(3)</sup> | Birch Grove CLO 12 Ltd. 2025-12A D2, 7.419%, (TSFR3M + 3.750%), 04/22/2038 | 2942939 | 0.1 |
| 1600000 <sup>(1)</sup><sup>(3)</sup> | Birch Grove Clo 9 Ltd. 2024-9A C, 5.669%, (TSFR3M + 2.000%), 10/22/2037 | 1601882 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | BlueMountain CLO Ltd. 2013-2A CR, 5.881%, (TSFR3M + 2.212%), 10/22/2030 | 1000424 | 0.1 |
| 2000000 <sup>(1)</sup><sup>(3)</sup> | BlueMountain CLO XXIX Ltd. 2020-29A CR, 6.030%, (TSFR3M + 2.362%), 07/25/2034 | 1997902 | 0.1 |
| 796000 <sup>(1)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 801466 | 0.0 |
| 4600000 <sup>(1)</sup><sup>(3)</sup> | CARLYLE US CLO Ltd. 2017-3A CR2, 5.670%, (TSFR3M + 2.000%), 10/21/2037 | 4612852 | 0.2 |
| 3300000 <sup>(1)</sup><sup>(3)</sup> | CBAM Ltd. 2017-1A CR2, 5.768%, (TSFR3M + 2.100%), 01/20/2038 | 3312923 | 0.2 |
| 4300000 <sup>(1)</sup><sup>(3)</sup> | Cedar Funding VIII Clo Ltd. 2017-8A CRR, 5.518%, (TSFR3M + 1.850%), 01/17/2038 | 4279983 | 0.2 |
| 2600000 <sup>(1)</sup><sup>(3)</sup> | CIFC Funding Ltd. 2024-3A C, 5.870%, (TSFR3M + 2.200%), 07/21/2037 | 2606534 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 5000000 <sup>(1)</sup><sup>(3)</sup> | Crown City CLO V 2023-5A BR, 6.268%, (TSFR3M + 2.600%), 04/20/2037 | $4991365 | 0.3 |
| 483495 <sup>(3)</sup> | CWABS Asset-Backed Certificates Trust 2005-AB2 M1, 4.498%, (TSFR1M + 0.819%), 09/25/2035 | 478748 | 0.0 |
| 2750000 <sup>(1)</sup><sup>(3)</sup> | Dryden 30 Senior Loan Fund 2013-30A DR, 6.514%, (TSFR3M + 2.862%), 11/15/2028 | 2741260 | 0.1 |
| 1750000 <sup>(1)</sup><sup>(3)</sup> | Dryden 55 CLO Ltd. 2018-55A C, 5.834%, (TSFR3M + 2.162%), 04/15/2031 | 1746652 | 0.1 |
| 2100000 <sup>(1)</sup><sup>(3)</sup> | Flatiron CLO 23 LLC 2023-1A CR, 5.468%, (TSFR3M + 1.800%), 04/17/2036 | 2088078 | 0.1 |
| 973627 <sup>(1)</sup><sup>(3)</sup> | FS Rialto 2021-FL3 A, 5.037%, (TSFR1M + 1.364%), 11/16/2036 | 973554 | 0.1 |
| 2350000 <sup>(1)</sup><sup>(3)</sup> | ICG US CLO Ltd. 2014-1A BR3, 5.423%, (TSFR3M + 1.750%), 10/20/2034 | 2349929 | 0.1 |
| 3570000 <sup>(1)</sup><sup>(3)</sup> | Invesco CLO Ltd. 2021-3A BR, 5.169%, (TSFR3M + 1.500%), 10/22/2034 | 3555852 | 0.2 |
| 5750000 <sup>(1)</sup><sup>(3)</sup> | Invesco US CLO Ltd. 2023-1A CR2, 5.421%, (TSFR3M + 1.750%), 04/22/2037 | 5701315 | 0.3 |
| 750484 <sup>(1)</sup> | JG Wentworth XLII LLC 2018-2A B, 4.700%, 10/15/2077 | 681568 | 0.0 |
| 1350000 <sup>(1)</sup><sup>(3)</sup> | LCM XVIII L.P. 18A CR, 5.779%, (TSFR3M + 2.112%), 04/20/2031 | 1350855 | 0.1 |
| 693568 <sup>(1)</sup> | LCSS Financing LLC 2018-A A, 4.700%, 12/15/2062 | 610933 | 0.0 |
| 4000000 <sup>(1)</sup><sup>(3)</sup> | Magnetite XLVII Ltd. 2024-47A C, 5.518%, (TSFR3M + 1.850%), 01/25/2038 | 4003256 | 0.2 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | MF1 Ltd. 2021-FL7 AS, 5.244%, (TSFR1M + 1.564%), 10/16/2036 | 2996753 | 0.2 |
| 1095122 <sup>(1)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 993337 | 0.1 |
| 316904 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 298993 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1426519 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-2GS A, 4.200%, 02/22/2044 | $1334582 | 0.1 |
| 401600 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 364894 | 0.0 |
| 706989 <sup>(1)</sup> | Mosaic Solar Loan Trust 2019-1A A, 4.370%, 12/21/2043 | 667901 | 0.0 |
| 355479 <sup>(1)</sup> | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 315440 | 0.0 |
| 1074787 <sup>(1)</sup> | Mosaic Solar Loan Trust 2021-2A B, 2.090%, 04/22/2047 | 805260 | 0.0 |
| 5001804 <sup>(1)</sup> | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | 4754928 | 0.2 |
| 772077 <sup>(1)</sup> | Mosaic Solar Loan Trust 2025-1A A, 6.120%, 08/22/2050 | 763629 | 0.0 |
| 543259 <sup>(1)</sup> | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | 514029 | 0.0 |
| 3600000 <sup>(1)</sup><sup>(3)</sup> | Neuberger Berman CLO XX Ltd. 2015-20A D2R3, 7.372%, (TSFR3M + 3.700%), 04/15/2039 | 3469075 | 0.2 |
| 2625000 <sup>(1)</sup><sup>(3)</sup> | Neuberger Berman Loan Advisers CLO 24 Ltd. 2017-24A CR2, 5.770%, (TSFR3M + 2.100%), 10/19/2038 | 2628557 | 0.1 |
| 2300000 <sup>(1)</sup><sup>(3)</sup> | Neuberger Berman Loan Advisers CLO 33 Ltd. 2019-33A CR2, 5.671%, (TSFR3M + 2.000%), 04/16/2039 | 2305000 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | NYACK Park CLO Ltd. 2021-1A CR, 5.518%, (TSFR3M + 1.850%), 10/20/2038 | 994300 | 0.1 |
| 2150000 <sup>(1)</sup><sup>(3)</sup> | Oaktree CLO Ltd. 2024-25A C, 6.168%, (TSFR3M + 2.500%), 04/20/2037 | 2153679 | 0.1 |
| 3880000 <sup>(1)</sup><sup>(3)</sup> | OCP CLO Ltd. 2020-8RA CR2, 5.468%, (TSFR3M + 1.800%), 10/17/2038 | 3879399 | 0.2 |
| 2500000 <sup>(1)</sup><sup>(3)</sup> | Octagon 64 Ltd. 2022-1A CR, 5.620%, (TSFR3M + 1.950%), 07/21/2037 | 2481762 | 0.1 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | Octagon 75 Ltd. 2025-1A D1, 6.269%, (TSFR3M + 2.600%), 01/22/2038 | 2949054 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | OHA Credit Funding 9 Ltd. 2021-9A CR, 5.618%, (TSFR3M + 1.950%), 10/19/2037 | $1501977 | 0.1 |
| 514883 <sup>(1)</sup> | Pagaya AI Debt Grantor Trust 2024-10 B, 5.750%, 06/15/2032 | 517085 | 0.0 |
| 3150000 <sup>(1)</sup><sup>(3)</sup> | Palmer Square Loan Funding Ltd. 2025-1A D, 7.753%, (TSFR3M + 4.100%), 02/15/2033 | 2977597 | 0.2 |
| 3000000 <sup>(1)</sup><sup>(3)</sup> | Peebles Park CLO Ltd. 2024-1A C, 6.070%, (TSFR3M + 2.400%), 04/21/2037 | 3002955 | 0.2 |
| 1600000 <sup>(1)</sup><sup>(3)</sup> | Rad CLO 10 Ltd. 2021-10A C, 5.683%, (TSFR3M + 2.012%), 04/23/2034 | 1592166 | 0.1 |
| 6324430 <sup>(1)</sup> | Sabal Issuer 2025 1 LLC 2025-1A A, 6.280%, 11/01/2060 | 6361062 | 0.3 |
| 2205000 <sup>(1)</sup> | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 2260864 | 0.1 |
| 1841125 <sup>(1)</sup> | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 | 1823801 | 0.1 |
| 1000000 <sup>(1)</sup><sup>(3)</sup> | Sound Point CLO VII-R Ltd. 2014-3RA C, 6.183%, (TSFR3M + 2.512%), 10/23/2031 | 1001366 | 0.1 |
| 4098125 <sup>(1)</sup> | Subway Funding LLC 2024-3A A2II, 5.566%, 07/30/2054 | 4047554 | 0.2 |
| 738727 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 | 714009 | 0.0 |
| 2502177 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 | 2239179 | 0.1 |
| 1477151 <sup>(1)</sup> | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 | 1429347 | 0.1 |
| 3056727 <sup>(1)</sup> | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 | 2951393 | 0.1 |
| 5201048 <sup>(1)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 4994505 | 0.3 |
| 6800000 <sup>(1)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 6816966 | 0.3 |
| 1500000 <sup>(1)</sup><sup>(3)</sup> | Upland CLO Ltd. 2016-1A BR, 5.779%, (TSFR3M + 2.112%), 04/20/2031 | 1499622 | 0.1 |
|  |  | **163722982** | **8.2** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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: 0.7%** | **Student Loan Asset-Backed Securities: 0.7%** | **Student Loan Asset-Backed Securities: 0.7%** |
| 63570 <sup>(1)</sup> | Commonbond Student Loan Trust-GS 2018-CGS C, 4.350%, 02/25/2046 | $54925 | 0.0 |
| 434092 <sup>(1)</sup><sup>(3)</sup> | ELFI Graduate Loan Program LLC 2019-A B, 2.940%, 03/25/2044 | 371932 | 0.0 |
| 213909 <sup>(1)</sup> | Laurel Road Prime Student Loan Trust 2018-B BFX, 3.720%, 05/26/2043 | 213318 | 0.0 |
| 4000000 <sup>(1)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 3622361 | 0.2 |
| 641003 <sup>(1)</sup> | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | 637063 | 0.0 |
| 2000000 <sup>(1)</sup> | Sofi Professional Loan Program LLC 2019-B BFX, 3.730%, 08/17/2048 | 1883784 | 0.1 |
| 3000000 <sup>(1)</sup> | Sofi Professional Loan Program LLC 2019-C BFX, 3.050%, 11/16/2048 | 2721625 | 0.1 |
| 1000000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | 967362 | 0.1 |
| 4400000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 | 3679224 | 0.2 |
|  |  | **14151594** | **0.7** |
|  | Total Asset-Backed Securities <br> (Cost $195,523,764) | **190543806** | **9.5** |
| **BANK LOANS: 8.4%** | **BANK LOANS: 8.4%** | **BANK LOANS: 8.4%** | **BANK LOANS: 8.4%** |
|  | **Auto Components: 0.0%** |  |  |
| 782764 | American Axle & Manufacturing Inc., New Tranche B Term Loan, 6.662%, (TSFR3M+3.000%), 12/12/2029 | 782764 | 0.0 |
|  | **Basic Materials: 0.2%** |  |  |
| 391107 | A-AP Buyer, Inc., Initial Term Loan, 6.417%, (TSFR3M+2.750%), 09/09/2031 | 392085 | 0.0 |
| 580613 | Covia Holdings Corporation, 2025 Refinancing Term Loan, 6.402%, (TSFR3M+2.750%), 02/26/2032 | 580612 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Basic Materials: (continued)** |  |  |
| 126121 | Ineos Finance PLC, 2030 Dollar Term Loans, 6.918%, (TSFR1M+3.250%), 02/19/2030 | $110619 | 0.0 |
| 486250 | Ineos US Petrochem LLC, 2030 Tranche B Dollar Term Loan, 7.518%, (TSFR1M+3.850%), 03/14/2030 | 353342 | 0.0 |
| 377548 | Paint Intermediate III LLC, Paint Intermediate/ Wesco Group Cov-Lite Tlb, 6.666%, (TSFR3M+3.000%), 10/09/2031 | 376605 | 0.0 |
| 743138 | Qnity Electronics, Inc., Term Loan B, 5.668%, (TSFR1M+2.000%), 11/01/2032 | 743137 | 0.1 |
| 305000 | Solstice Advanced Materials Inc., Term B Loan, 5.417%, (TSFR3M+1.750%), 10/29/2032 | 306954 | 0.0 |
| 399181 | USALCO LLC, Tranche B, 7.168%, (TSFR1M+3.500%), 09/30/2031 | 398682 | 0.0 |
| 41647 | USALCO LLC, Tranche B-DD, 7.176%, 09/30/2031 | 41595 | 0.0 |
|  |  | **3303631** | **0.2** |
|  | **Chemicals & Plastics: 0.0%** |  |  |
| 91911 | Herens Holdco Sarl, Facility B USD Loans, 7.725%, (TSFR3M+4.025%), 07/03/2028 | 80473 | 0.0 |
| 184717 | Ineos US Finance LLC, 2028 Dollar Term Loan, 6.268%, (TSFR1M+2.600%), 11/08/2028 | 175415 | 0.0 |
|  |  | **255888** | **0.0** |
|  | **Communications: 0.4%** |  |  |
| 350000 | AP Core Holdings II LLC, Term B-2 Loans, 9.428%, (TSFR3M+5.762%), 09/01/2027 | 341906 | 0.0 |
| 597172 | Arches Buyer Inc., Refinancing Term Loan, 7.018%, (TSFR1M+3.350%), 12/06/2027 | 595596 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Communications: (continued)** |  |  |
| 474378 | Cengage Learning Inc., Term Loan, 6.669%, (TSFR3M+3.000%), 03/24/2031 | $466010 | 0.0 |
| 576805 | Charter Communications Operating LLC, Term Loan B5, 5.911%, (TSFR3M+2.250%), 12/15/2031 | 577706 | 0.1 |
| 246861 | CMG Media Corporation (f/k/a Terrier Media Buyer Inc), Term Facility, 7.300%, (TSFR3M+3.600%), 06/18/2029 | 231818 | 0.0 |
| 490050 | CNT Holdings I Corp, 2025 Replacement Term Loans, 6.167%, (TSFR3M+2.500%), 11/08/2032 | 490356 | 0.0 |
| 133713 | Connect US Finco LLC, Amendment No. 4 Term Loan, 8.168%, (TSFR1M+4.500%), 09/27/2029 | 134119 | 0.0 |
| 370593 | Dotdash Meredith, Inc., Term B-2 Loan, 7.168%, (TSFR1M+3.500%), 06/17/2032 | 351446 | 0.0 |
| 609192 | Ensono LP, First Lien Initial Term Loan, 7.787%, (TSFR1M+4.114%), 05/26/2028 | 570356 | 0.0 |
| 346413 | Gogo Intermediate Holdings LLC, Initial Term Loan, 7.537%, (TSFR1M+3.865%), 04/30/2028 | 304032 | 0.0 |
| 271563 | GoodRX Inc., 2024 Term Loan, 7.418%, (TSFR1M+3.750%), 07/10/2029 | 245221 | 0.0 |
| 584158 | Magnite Inc., Amendment 2 Initial Term Loan, 6.668%, (TSFR1M+3.000%), 02/06/2031 | 580507 | 0.1 |
| 617771 | McGraw-Hill Education Inc., Term Loan B (2025), 6.418%, (TSFR1M+2.750%), 08/06/2031 | 617963 | 0.1 |
| 497008 | MH Sub I LLC, 2023 May New Term Loans, 7.918%, (TSFR1M+4.250%), 05/03/2028 | 428256 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Communications: (continued)** |  |  |
| 426109 | Proofpoint Inc., 2025-B Incremental Term Loan, 6.700%, (TSFR3M+3.000%), 08/31/2028 | $411328 | 0.0 |
| 146250 | SInc.lair Television Group Inc., Term B-7 Loans, 7.868%, (TSFR1M+4.200%), 12/31/2030 | 129111 | 0.0 |
| 375000 | Sunrise HoldCo III BV (f/k/a UPC Broadband Holding BV), Facility Aaa, 6.099%, (TSFR6M+2.470%), 02/15/2032 | 373266 | 0.0 |
| 508610 | TripAdvisor Inc., Initial Term B Loan, 6.418%, (TSFR1M+2.750%), 07/08/2031 | 481272 | 0.0 |
| 70379 | Viasat Inc., Initial Term Loan, 8.282%, (TSFR1M+4.610%), 03/02/2029 | 70665 | 0.0 |
| 320496 | Zayo Group Holdings Inc., Dollar Term Loan, 6.782%, (TSFR1M+3.115%), 03/11/2030 | 315088 | 0.0 |
|  |  | **7716022** | **0.4** |
|  | **Consumer, Cyclical: 1.6%** |  |  |
| 488750 | 84 Lumber Company, 2023 Term B-1 Loan, 5.918%, (TSFR1M+2.250%), 11/29/2030 | 490073 | 0.0 |
| 1225000 | AAdvantage Loyality IP Ltd (American Airlines Inc), 2025 Incremental Term Loans, 6.418%, (TSFR3M+2.750%), 05/28/2032 | 1215940 | 0.1 |
| 66410 | AAdvantage Loyality IP Ltd (American Airlines Inc), Repriced Term Loan, 5.918%, (TSFR3M+2.250%), 04/20/2028 | 65773 | 0.0 |
| 647065 | ABG Intermediate Holdings 2 LLC, 2024-1 Refinancing Term Loan, 5.918%, (TSFR1M+2.250%), 12/21/2028 | 646795 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 1784332 | AI Aqua Merger Sub Inc FKA Osmosis Buyer Limited, 2026 Term Loan B, 6.411%, (TSFR3M+2.750%), 07/31/2028 | $1780582 | 0.1 |
| 395000 | Allison Transmission Inc., Term Loan B, 5.422%, (TSFR1M+1.750%), 01/02/2033 | 397151 | 0.0 |
| 530380 | Alterra Mountain Company, Facility B9 Term Loan, 6.168%, (TSFR1M+2.500%), 08/17/2028 | 531043 | 0.0 |
| 108900 | American Axle & Manufacturing Inc., Tranche C Term Loan, 6.912%, (TSFR3M+3.350%), 02/03/2033 | 108356 | 0.0 |
| 445258 | American Greetings Corporation, Tranche C Term Loan, 9.418%, (TSFR1M+5.750%), 10/30/2029 | 444770 | 0.0 |
| 279277 | Aramark Services Inc., U.S. Term B-10 Loan, 5.418%, (TSFR1M+1.750%), 06/22/2030 | 279975 | 0.0 |
| 344802 | Autokiniton US Holdings Inc., 2024 Replacement Term B Loan, 7.782%, (TSFR1M+4.114%), 04/06/2028 | 341268 | 0.0 |
| 185000 <sup>(7)</sup> | Betclic Everest Group, Term Loan, 12/09/2031 | 185173 | 0.0 |
| 693263 | Boots Group Finco LP, Closing Date Dollar Term Loan, 8.206%, (TSFR3M+4.500%), 08/30/2032 | 696585 | 0.1 |
| 79196 | Burlington Coat Factory Warehouse Corp, Tlb, 5.418%, (TSFR1M+1.750%), 09/24/2031 | 79262 | 0.0 |
| 755856 | Cinemark USA Inc., Term Loan, 2.750%, (TSFR3M+3.250%), 05/24/2030 | 758926 | 0.1 |
| 293998 | City Football Group Limited, Tl, 7.282%, (TSFR1M+3.614%), 07/21/2030 | 293631 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 816591 | Clarios Global LP, 2024 Term Loan B, 6.168%, (TSFR1M+2.500%), 05/06/2030 | $815570 | 0.1 |
| 109450 | Clarios Global LP, Amendment No 6 Dollar Term Loan, 6.418%, (TSFR1M+2.750%), 01/28/2032 | 109313 | 0.0 |
| 429213 | Core & Main LP, Tranche D Term Loan, 5.676%, (TSFR1M+2.000%), 07/27/2028 | 430018 | 0.0 |
| 638566 | Crown Finance US Inc., Term Loan B, 8.171%, (TSFR1M+4.500%), 12/02/2031 | 633378 | 0.0 |
| 436077 | Dealer Tire Financial LLC, Term Loan B5, 6.668%, (TSFR1M+3.000%), 07/02/2031 | 435532 | 0.0 |
| 148500 | Dk Crown Holdings Inc., Term B Loans, 5.419%, (TSFR1M+1.750%), 03/04/2032 | 148540 | 0.0 |
| 1135000 | EG America LLC, Term Loan B, 6.918%, (TSFR1M+2.250%), 02/10/2031 | 1137837 | 0.1 |
| 282863 | EOC Borrower LLC, Term B Loans, 6.418%, (TSFR1M+2.750%), 03/24/2032 | 282580 | 0.0 |
| 713772 | Fertitta Entertainment LLC, Tranche B, 6.923%, (TSFR1M+3.250%), 01/27/2029 | 700956 | 0.1 |
| 590775 | Flutter Entertainment Public Limited Company, 2024 Term Loan B, 5.450%, (TSFR3M+1.750%), 11/30/2030 | 585606 | 0.0 |
| 220000 | Formula One Management Limited, Term Loan B1, 5.450%, (TSFR3M+1.750%), 09/30/2031 | 220069 | 0.0 |
| 720920 | Gates Corporation, Inital B-5 Dollar Term Loan, 5.418%, (TSFR1M+1.750%), 06/04/2031 | 721121 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 865631 | Great Outdoors Group LLC, Term B-3 Loan, 6.918%, (TSFR1M+3.250%), 01/23/2032 | $865167 | 0.1 |
| 187625 | Highline AfterMarket Acquisition LLC, 2025-1 Term Loan, 7.173%, (TSFR3M+3.500%), 02/13/2030 | 187156 | 0.0 |
| 239400 | HNI Corporation, Term Loan B, 5.667%, (TSFR1M+2.000%), 12/10/2032 | 241146 | 0.0 |
| 500304 | Holley Purchaser, Inc., Initial Term Loan, 7.532%, (TSFR1M+3.750%), 11/17/2028 | 499054 | 0.0 |
| 306125 | Hunter Douglas Holding BV, Tranche B-1 Term Loan, 6.700%, (TSFR3M+3.000%), 01/17/2032 | 305245 | 0.0 |
| 212850 | J&J Ventures Gaming LLC, 2025 Term Loans, 7.168%, (TSFR1M+3.500%), 04/26/2030 | 210760 | 0.0 |
| 352643 | Kingpin Intermediate Holdings LLC, 2025 1st Lien TLB, 6.918%, (TSFR1M+3.250%), 09/22/2032 | 322668 | 0.0 |
| 333325 | LBM Acquisition LLC, Amendment No 4 Incremental Term loan, 8.675%, (TSFR1M+5.000%), 06/06/2031 | 282731 | 0.0 |
| 314288 | LC Ahab US Bidco LLC, Initial Term Loan, 6.168%, (TSFR1M+2.500%), 05/01/2031 | 311734 | 0.0 |
| 829179 | Light and Wonder International Inc., Term Loan B-3, 5.675%, (TSFR1M+2.000%), 04/16/2029 | 826199 | 0.1 |
| 1971699 | LS Group OPCO Acquisition LLC, Term Loan B, 6.173%, (TSFR3M+2.500%), 04/23/2031 | 1969234 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 678013 | MillerKnoll Inc. f/k/a/ Herman Miller Inc., 2026 Term B Loans, 5.668%, (TSFR1M+2.000%), 08/09/2032 | $674906 | 0.1 |
| 671582 | PCI Gaming Authority, 2024 Term Loan B, 5.668%, (TSFR1M+2.250%), 07/18/2031 | 672182 | 0.0 |
| 929297 | Peer Holding III BV, Term Loan B5b, 6.200%, (TSFR3M+2.500%), 07/01/2031 | 930071 | 0.1 |
| 342005 | Penn National Gaming Inc., Term B Facility, 6.168%, (TSFR1M+2.500%), 05/03/2029 | 343929 | 0.0 |
| 663338 | Raising Canes Restaurants LLC, First Amendment New Term Loan, 5.668%, (TSFR1M+2.000%), 11/03/2032 | 660988 | 0.0 |
| 271494 | Raising Canes Restaurants LLC, Initial Term Loan, 5.668%, (TSFR1M+2.000%), 09/18/2031 | 270900 | 0.0 |
| 393617 | RC Buyer Inc., First Lien Initial Term Loan, 7.282%, (TSFR1M+3.614%), 07/28/2028 | 389927 | 0.0 |
| 343430 | Restoration Hardware, Inc., 2022 Incremental Term Loan, 7.018%, (TSFR1M+3.350%), 10/20/2028 | 342858 | 0.0 |
| 810000 | RVR Dealership Holdings LLC, 2026 Refinancing Term Loan, 8.181%, (TSFR1M+2.250%), 02/25/2033 | 784687 | 0.1 |
| 653088 | Samsonite International SA, Term Loan B, 5.418%, (TSFR1M+1.750%), 11/05/2032 | 654721 | 0.0 |
| 648865 | Scientific Games Holdings LP, 2024 Refi Dollar Term Loan, 6.652%, (TSFR3M+3.000%), 04/04/2029 | 640044 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 352235 | Showtime Acquisition LLC, Initial Term Loan, 8.402%, (TSFR3M+4.750%), 08/13/2031 | $348713 | 0.0 |
| 433913 | SKECHERS U.S.A. INC. (Beach Acquisition Bidco), Tranche B-1 Term Loan, 6.950%, (TSFR3M+3.250%), 09/13/2032 | 436190 | 0.0 |
| 187625 | SRAM LLC, Initial Term Loan, 5.948%, (TSFR3M+2.250%), 02/27/2032 | 187039 | 0.0 |
| 586155 | Station Casinos LLC, Term B Facility Loans, 5.668%, (TSFR1M+2.000%), 03/14/2031 | 586612 | 0.0 |
| 16667 | Thor Industries Inc., Term B-3 USD, 5.918%, (TSFR1M+2.250%), 11/15/2030 | 16667 | 0.0 |
| 46309 | Tory Burch LLC, Initial Term B Loan, 7.032%, (TSFR1M+3.360%), 04/16/2028 | 46323 | 0.0 |
| 721237 | UFC Holdings LLC (Zuffa)/TKO Group, Term B-5 Loan, 5.664%, (TSFR3M+2.000%), 11/21/2031 | 721650 | 0.1 |
| 407094 | United Air Lines, Inc., Refinanced Term Loans, 5.431%, (TSFR1M+2.250%), 02/24/2031 | 406967 | 0.0 |
| 272150 | Victoria's Secret & Co, First Lien Initial Term Loan, 6.419%, (TSFR3M+2.750%), 08/02/2028 | 272320 | 0.0 |
| 230000 <sup>(7)</sup> | Vse Corporation, Term Loan B, 03/17/2033 | 230000 | 0.0 |
| 615000 | Weber-Stephen Products LLC, Initial Term B Loans, 7.411%, (TSFR3M+3.750%), 10/01/2032 | 602443 | 0.0 |
| 651866 | Whatabrands LLC, 2024-2 Refinancing Term B Loan, 6.173%, (TSFR1M+2.500%), 08/03/2028 | 651576 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Consumer, Cyclical: (continued)** |  |  |
| 746155 | White Cap Supply Holdings LLC(f/k/a White Cap Buyer LLC), Tranche C Term Loan, 6.918%, (TSFR1M+3.250%), 10/19/2029 | $718827 | 0.1 |
| 243982 | Windsor Holdings III LLC, 2025 Refi Term Loan B, 6.418%, (TSFR1M+2.750%), 08/01/2030 | 241440 | 0.0 |
|  |  | **32388897** | **1.6** |
|  | **Consumer, Non-cyclical: 1.8%** |  |  |
| 12449 | ADMI Corp., Amendment No 5 Term Loan, 7.532%, (TSFR1M+3.864%), 12/23/2027 | 11710 | 0.0 |
| 678300 | AlixPartners LLP, Tranche B, 5.673%, (TSFR1M+2.000%), 08/12/2032 | 672948 | 0.1 |
| 295000 | Alkermes Inc., Initial Tranche B Term Loan, 6.418%, 08/12/2031 | 297581 | 0.0 |
| 452725 | Allied Universal Holdco LLC, Amendment 7 Replacement U.S. Dollar Term Loan, 6.923%, (TSFR1M+3.250%), 08/20/2032 | 453102 | 0.0 |
| 196000 | American Airlines Inc., 2024 Replacement Term Loan, 5.907%, (TSFR3M+2.250%), 06/04/2029 | 190561 | 0.0 |
| 378100 | Amneal Pharmaceuticals LLC, Amendment No. 2 Term Loan, 6.668%, (TSFR1M+3.000%), 08/02/2032 | 379912 | 0.0 |
| 193137 | Anticimex Global AB (f/k/a Seren Bidco AB), Facility B8 (USD), 6.542%, (SOFRRATE+2.900%), 11/17/2031 | 193589 | 0.0 |
| 900000 | API Group DE Inc., 2021 Incremental Term Loan B February 2025, 5.418%, (TSFR1M+2.250%), 01/03/2029 | 900410 | 0.1 |
| 455000 <sup>(7)</sup> | Argent Finco LLC, Term Loan, 11/12/2032 | 456351 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 482687 | Auris Luxembourg III SARL, Facility B9, 6.948%, (TSFR1M+2.250%), 02/28/2029 | $479067 | 0.0 |
| 442775 | Bausch & Lomb Corporation, 2025-2 Refinancing Term Loan, 7.418%, (TSFR1M+3.750%), 01/15/2031 | 444297 | 0.0 |
| 146790 | BCPE North Star US Holdco 2 Inc., First Lien Initial Term Loan, 7.787%, (TSFR1M+4.114%), 06/09/2028 | 146454 | 0.0 |
| 403166 | Belfor Holdings Inc., Tranche B-5 Term Loan, 6.418%, (TSFR1M+2.750%), 11/01/2030 | 404678 | 0.0 |
| 476475 | Bella Holding Company LLC, Tl, 6.668%, (TSFR1M+3.000%), 05/10/2028 | 476066 | 0.0 |
| 1274515 | Belron Finance 2019 LLC, Term Loan, 5.660%, (TSFR6M+2.000%), 10/16/2031 | 1275152 | 0.1 |
| 322550 | BIFM US Finance LLC, 2025 Term Loan (First Lien), 6.918%, (TSFR1M+3.250%), 05/31/2028 | 322953 | 0.0 |
| 714942 | Camelot US Acquisition I Co, Term Loan B-1, 6.418%, (TSFR1M+2.750%), 01/31/2031 | 621999 | 0.1 |
| 278260 | CHG Healthcare Services Inc., Tranche B1, 6.423%, (TSFR1M+2.750%), 09/29/2028 | 278718 | 0.0 |
| 507050 | CHG PPC Parent LLC, 2021-1 US Term Loan, 6.782%, (TSFR1M+3.114%), 12/08/2028 | 507896 | 0.0 |
| 802988 | Chobani LLC, October 2025 1st Lien TLB, 5.918%, (TSFR1M+2.250%), 10/28/2032 | 804192 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 303823 | Cimpress PLC, 2024-2 RefinancingTranche B-1, 6.168%, (TSFR1M+2.500%), 05/17/2028 | $303823 | 0.0 |
| 172817 | Concentra Health Services, Inc., Term Loan B-1, 5.668%, (TSFR1M+2.000%), 07/28/2031 | 173627 | 0.0 |
| 498532 | Corporation Service Company, Tranche B Usd Term Loans, 5.668%, (TSFR1M+2.250%), 11/02/2029 | 495261 | 0.0 |
| 788960 | Cotiviti Inc., Initial Floating Rate Term Loans, 6.418%, (TSFR1M+2.750%), 05/01/2031 | 729295 | 0.1 |
| 587348 | Creative Artists Agency, LLC, Term Loan B, 6.168%, (TSFR1M+2.500%), 10/01/2031 | 587303 | 0.0 |
| 183613 | Dechra Pharmaceuticals Holdings Limited (f/k/a Freya Bidco Limited), Tranche B, 6.387%, 01/27/2032 | 183699 | 0.0 |
| 1752443 | Electron Bidco Inc., 2026 Term Loan, 6.168%, (TSFR1M+2.500%), 02/06/2033 | 1751485 | 0.1 |
| 825000 | Ensemble RCM LLC, Term Loan B, 6.660%, (TSFR3M+3.000%), 02/09/2033 | 816308 | 0.1 |
| 147014 | Financiere Mendel, Addtl Term Facility 2, 6.389%, (TSFR3M+2.750%), 11/08/2030 | 148270 | 0.0 |
| 244525 | Fleet Midco I Ltd., Facility B2 Term Loan, 6.419%, (TSFR3M+2.750%), 02/21/2031 | 245136 | 0.0 |
| 311040 | Froneri International Limited, Facility B4, 5.877%, (TSFR1M+2.250%), 09/30/2031 | 305616 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 1149866 | Fugue Finance B.V., 15th Amd USD Term, 5.921%, (TSFR3M+2.250%), 01/09/2032 | $1138367 | 0.1 |
| 390228 | Gainwell Acquisition Corp, Tranche B, 7.772%, (TSFR3M+4.100%), 10/01/2027 | 379156 | 0.0 |
| 1009557 | Garda World Security Corporation, Fifteenth Additional Term Loan, 6.422%, (TSFR3M+2.750%), 02/01/2029 | 1004509 | 0.1 |
| 453375 | Genmab A/S, Initial Term B Loan, 6.733%, (TSFR3M+3.000%), 12/10/2032 | 455500 | 0.0 |
| 472445 | Global Medical Response Inc., Initial Term Loan, 7.170%, (TSFR3M+3.500%), 10/01/2032 | 471237 | 0.0 |
| 153014 | Golden State Foods LLC, Syndicated 2026 Refinanced Term Loan, 7.200%, (TSFR3M+3.500%), 12/04/2031 | 153301 | 0.0 |
| 670059 | Grant Thornton Advisors LLC, 2025 Incremental Term Loan, 6.418%, (TSFR1M+2.750%), 06/02/2031 | 626505 | 0.1 |
| 40344 <sup>(8)</sup> | Hanger Inc., Delayed Draw Term Loan, 7.168%, (TSFR1M+3.500%), 10/23/2031 | 40496 | 0.0 |
| 311361 | Hanger Inc., Initial Term Loan, 7.168%, (TSFR1M+3.500%), 10/23/2031 | 312528 | 0.0 |
| 1300000 <sup>(7)</sup> | Hologic, Inc., Term B, 01/14/2033 | 1285301 | 0.1 |
| 294000 | HomeServe USA Holding Corp., Amendment No.1 Refinancing Term Loan, 5.675%, (TSFR1M+2.000%), 10/21/2030 | 292163 | 0.0 |
| 705000 | Ion Platform Finance Us, Inc., Initial Dollar Term Loans, 7.422%, (TSFR3M+3.750%), 10/07/2032 | 569791 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic Income Opportunities Fund PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 759990 | Jazz Financing Lux Sarl, Tranche B-2 Dollar Facility, 5.918%, (TSFR1M+2.250%), 05/05/2028 | $764005 | 0.1 |
| 308804 | Kuehg Corp., Tranche B, 6.422%, (TSFR3M+2.750%), 06/12/2030 | 277538 | 0.0 |
| 442406 | Latham Pool Products Inc., Initial Term Loans, 7.573%, (TSFR3M+3.900%), 02/23/2029 | 441115 | 0.0 |
| 224438 | Lavender Dutch Borrowerco B.V., Facility B (USD), 6.935%, (TSFR3M+3.250%), 12/30/2032 | 221492 | 0.0 |
| 295510 | LifePoint Health Inc., Term Loan B2, 7.152%, (TSFR3M+3.500%), 05/16/2031 | 295695 | 0.0 |
| 219096 | Medline Borrower LP, 2028 Refinancing Term Loan, 5.418%, (TSFR1M+2.250%), 10/23/2028 | 219592 | 0.0 |
| 128607 | Mister Car Wash Holdings Inc., 2024 Refinancing Term Loans, 5.918%, (TSFR1M+2.500%), 03/27/2031 | 127321 | 0.0 |
| 615000 <sup>(7)</sup> | Mister Car Wash Holdings Inc., Incremental First Lien Term Loan B, 03/27/2031 | 609926 | 0.0 |
| 450459 | Neon Maple Purchaser Inc., 1st amend Tranche B-1 TL, 6.168%, (TSFR1M+2.500%), 11/17/2031 | 442012 | 0.0 |
| 1203725 | Nourish Buyer I, Inc., 2026-1 Term Loans, 7.669%, (TSFR3M+4.000%), 07/09/2032 | 1208239 | 0.1 |
| 349847 | Perrigo Investments LLC, 2024 Refinancing Term B Loan, 5.668%, (TSFR1M+2.000%), 04/20/2029 | 348316 | 0.0 |
| 463838 | Pfi Lower Midco, LLC, Initial Term Loan, 7.668%, (TSFR1M+2.250%), 12/01/2032 | 466736 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 588045 | Phoenix Guarantor Inc., Tranche B5 Term Loan, 6.168%, (TSFR1M+2.500%), 02/21/2031 | $588811 | 0.0 |
| 373110 | Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions), 2025 Incremental Term B-2 Loans, 5.414%, (TSFR1M+2.250%), 03/07/2032 | 368446 | 0.0 |
| 606987 | Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions), Term B1 Loan, 5.664%, (TSFR1M+2.000%), 10/13/2030 | 605043 | 0.0 |
| 187150 | Priority Holdings LLC, 2025-1 Refinancing Term Loan, 7.418%, (TSFR1M+3.750%), 07/30/2032 | 182627 | 0.0 |
| 313200 | Pye Barker Fire & Safety LLC, Closing Date Term Loan, 6.206%, (TSFR3M+2.500%), 12/16/2032 | 313950 | 0.0 |
| 46800 <sup>(7)</sup><sup>(8)</sup> | Pye Barker Fire & Safety LLC, Initial Delayed Draw Term Loan, 12/16/2032 | 46912 | 0.0 |
| 46333 <sup>(7)</sup><sup>(8)</sup> | Raven Acquisition Holdings, LLC, 2024 Delayed Draw Term Loan Commitment, 11/19/2031 | 45486 | 0.0 |
| 642180 | Raven Acquisition Holdings, LLC, Initial Term Loans, 6.668%, (TSFR1M+3.000%), 11/19/2031 | 630318 | 0.1 |
| 482678 | Resonetics LLC, 2025 Specified Refinancing Term Commitment, 6.421%, (TSFR3M+2.750%), 06/18/2031 | 480830 | 0.0 |
| 533656 | Resonetics LLC, 2026-1 Incremental Term Loans, 6.421%, (TSFR1M+2.250%), 06/18/2031 | 531613 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 62814 | SAVOR ACQUISITION Inc., First lien Term Loan B, 6.667%, (TSFR3M+3.000%), 02/19/2032 | $62991 | 0.0 |
| 267018 | Sazerac Company, Inc., Term B2 Loan, 5.670%, (TSFR1M+2.250%), 07/09/2032 | 267167 | 0.0 |
| 639508 | Sotera Health Holdings LLC, 2025 Term Loan, 6.168%, (TSFR1M+2.500%), 05/30/2031 | 640907 | 0.1 |
| 426780 | Southern Veterinary Partners LLC, 2025 New Term Loan, 6.176%, (TSFR1M+2.500%), 12/04/2031 | 423526 | 0.0 |
| 797452 | Surgery Center Holdings Inc., 2025 Refinancing Term Loan, 6.168%, (TSFR1M+2.500%), 12/19/2030 | 798381 | 0.1 |
| 290475 | The Hertz Corporation, Initial Term B Loan, 3.614%, (TSFR1M+3.615%), 06/30/2028 | 212047 | 0.0 |
| 57238 | The Hertz Corporation, Initial Term C Loan, 3.614%, (TSFR1M+3.615%), 06/30/2028 | 41784 | 0.0 |
| 345000 <sup>(7)</sup> | Triton Water Holdings Inc., Tranche B, 03/19/2031 | 345569 | 0.0 |
| 30921 <sup>(7)(8)</sup> | US Fertility Enterprises LLC, Delayed Draw Term Loan, 12/10/2032 | 30911 | 0.0 |
| 204079 | US Fertility Enterprises LLC, Initial Term Loan, 7.167%, (TSFR3M+3.500%), 12/10/2032 | 204015 | 0.0 |
| 134662 | Valvoline Inc., Term Loan B, 5.668%, (TSFR1M+2.000%), 12/01/2032 | 135321 | 0.0 |
| 232063 | Viant Medical Holdings Inc., Term Loan B, 7.668%, (TSFR1M+4.000%), 10/29/2031 | 232087 | 0.0 |
| 555861 | Vizient Inc., Term B-8 Loan, 5.418%, (TSFR1M+1.750%), 08/01/2031 | 557111 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** | **Consumer, Non-cyclical: (continued)** |
| 124375 | VM Consolidated Inc., Term Loan B-4, 5.668%, (TSFR1M+2.000%), 10/01/2032 | $124686 | 0.0 |
| 862164 | Wand NewCo 3 Inc., Tranche B-2 Term Loan, 6.168%, (TSFR1M+2.500%), 01/30/2031 | 855967 | 0.1 |
| 357305 | WCG Intermediate Corp, 2026 Refinancing Term Loan (First Lien), 6.418%, (TSFR1M+2.750%), 02/25/2032 | 349354 | 0.0 |
|  |  | **36284160** | **1.8** |
|  | **Electronics/Electrical: 0.0%** |  |  |
| 194568 | Creation Technologies Inc., Initial Term Loan, 9.413%, (TSFR3M+5.760%), 10/05/2028 | 191649 | 0.0 |
|  | **Energy: 0.4%** |  |  |
| 373079 | Brazos Delaware II LLC, 2025 B-2 Refinancing Term Loan, 6.176%, (TSFR1M+2.500%), 02/11/2030 | 374322 | 0.0 |
| 560640 | CPPIB OVM Member U.S. LLC, Initial Term Loans, 5.950%, (TSFR3M+2.250%), 08/20/2031 | 561107 | 0.0 |
| 420000 | Crescent Midstream Operating, LLC, Term Loan, 7.405%, (TSFR3M+3.750%), 02/11/2033 | 421313 | 0.0 |
| 300000 | Deep Blue Operating I LLC, Initial Term Loan, 6.421%, (TSFR1M+2.750%), 10/01/2032 | 301500 | 0.0 |
| 490780 | Emg Utica Midstream Holdings LLC, Initial Term Loan, 7.200%, (TSFR3M+3.500%), 04/01/2030 | 494461 | 0.0 |
| 665000 | Freeport LNG Investments, LLP, Term Loan B, 6.893%, (TSFR3M+3.250%), 02/11/2033 | 665000 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Energy: (continued)** |  |  |
| 142024 | GIP Pilot Acquisition Partners LP, Amendment No 2 Refinancing Term Loan, 5.646%, (TSFR3M+2.000%), 10/04/2030 | $142201 | 0.0 |
| 656393 | Goodnight Water Solutions Holdings, LLC, Initial Term Loans, 7.668%, (TSFR1M+4.000%), 06/04/2029 | 657624 | 0.0 |
| 387110 | Hilcorp Energy I LP, Repriced Term Loan, 5.425%, (TSFR1M+1.750%), 02/11/2030 | 387352 | 0.0 |
| 139795 | M6 Etx Holdings II Midco LLC, Term Loan B, 6.168%, (TSFR1M+2.500%), 04/01/2032 | 140529 | 0.0 |
| 775398 | NorthRiver Midstream Finance LP, Term Loan (First Lien), 5.911%, (TSFR3M+2.250%), 08/16/2030 | 777094 | 0.1 |
| 410000 <sup>(7)</sup> | Pelican Pipeline LLC, Initial Term Loan, 03/23/2033 | 410897 | 0.0 |
| 601460 | Rockpoint Gas Storage Partners LP, Amendment No. 2 Refinancing Term Loans, 6.200%, (TSFR3M+2.500%), 09/18/2031 | 603998 | 0.0 |
| 737491 | Talen Energy Supply LLC, 2025-1 Incremental Term B Loans, 5.668%, (TSFR1M+2.000%), 11/25/2032 | 738989 | 0.1 |
| 1133975 | Whitewater Matterhorn Holdings, LLC, Term Loan B, 5.417%, (TSFR3M+1.750%), 06/16/2032 | 1131140 | 0.1 |
|  |  | **7807527** | **0.4** |
|  | **Financial: 1.2%** |  |  |
| 1055326 | Acrisure LLC, 2024 Repricing Term B-6 Loan, 6.668%, (TSFR1M+3.000%), 11/06/2030 | 1024985 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 183613 | Acrisure LLC, 2025 Term Loan B7, 6.918%, (TSFR1M+3.250%), 06/21/2032 | $178133 | 0.0 |
| 344761 | Acuren Delaware Holdco Inc (f/k/a AAL Delaware Holdco Inc), Amendment No. 1 Term Loan, 6.418%, (TSFR1M+2.750%), 07/30/2031 | 344635 | 0.0 |
| 268153 | Alera Group Inc., 2026-1 New Term Loans, 6.418%, (TSFR1M+2.250%), 05/28/2032 | 260611 | 0.0 |
| 479721 | Alliant Holdings Intermediate LLC, 2025 Replacement Term Loan, 6.168%, (TSFR1M+2.500%), 09/19/2031 | 476448 | 0.0 |
| 464206 | Allspring Buyer LLC, 2024 Specified Refinancing Term Loan, 6.688%, (TSFR3M+3.000%), 11/01/2030 | 464870 | 0.0 |
| 465073 | AmWINS Group Inc., Tranche B, 5.668%, 01/30/2032 | 462287 | 0.0 |
| 363613 | Aragorn Parent Corporation, 2025 Replacement Term Loan, 7.168%, (TSFR1M+3.500%), 12/15/2028 | 364465 | 0.0 |
| 434626 | Ardonagh Group Finco Pty Ltd, 2025 FACILITY B TERM LOAN, 6.370%, (TSFR6M+2.750%), 02/15/2031 | 426115 | 0.0 |
| 634110 | Aretec Group Inc., Term B-4 Loan, 6.668%, (TSFR1M+3.000%), 08/09/2030 | 626712 | 0.1 |
| 388050 | Armor Holdco Inc., 2025 Refinancing Term Loans, 7.549%, (TSFR6M+3.750%), 12/10/2031 | 385807 | 0.0 |
| 564119 | Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc), 2024 Term Loan B, 6.668%, (TSFR1M+3.000%), 11/24/2032 | 556275 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 471438 | Asurion LLC, New B-13 Term Loan, 7.918%, (TSFR1M+4.250%), 09/19/2030 | $466870 | 0.0 |
| 1150000 | Asurion LLC, New B-14 Term Loans, 7.418%, (TSFR1M+2.250%), 03/11/2033 | 1112912 | 0.1 |
| 472806 <sup>(7)</sup> | Azorra Soar TLB FInance Limited, Tranche B, 10/18/2029 | 474284 | 0.0 |
| 265161 | Broadstreet Partners Inc., 2024 Term B Loans, 6.168%, (TSFR1M+2.750%), 06/13/2031 | 258897 | 0.0 |
| 451588 | Brookfield Property Reit Inc., 2025 Replacement Term Loan, 7.168%, (TSFR1M+3.500%), 05/28/2030 | 453902 | 0.0 |
| 261207 | Chicago US Midco III LP, Closing Date Term Loan, 6.168%, (TSFR1M+2.500%), 11/01/2032 | 259085 | 0.0 |
| 38793 <sup>(7)(8)</sup> | Chicago US Midco III LP, Delayed Draw Term Loan, 11/01/2032 | 38502 | 0.0 |
| 337778 | Chrysaor Bidco S.A R.L., Facility B1 (USD) Loan, 6.900%, (TSFR3M+3.250%), 10/30/2031 | 337708 | 0.0 |
| 419006 | Citadel Securities LP, 2024 Term Facility, 5.700%, (TSFR3M+2.000%), 10/31/2031 | 419763 | 0.0 |
| 369075 | Citco Funding LLC, 2026 Term Loans, 5.667%, (TSFR3M+2.000%), 01/21/2033 | 367979 | 0.0 |
| 473813 | Corpay Technologies Operating Co LLC, Term Loan B, 5.418%, (TSFR1M+1.750%), 11/05/2032 | 473627 | 0.0 |
| 763892 | CPI Holdco B, LLC, 2025 Fourth Amendment Incremental Term Loan, 5.668%, (TSFR1M+2.000%), 05/17/2031 | 759542 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 427988 | Cushman &Amp; Wakefield U.S. Borrower, Llc., 2025-2 Term Loan, 6.418%, (TSFR1M+2.750%), 01/31/2030 | $430930 | 0.0 |
| 150000 | Edelman Financial Engines Center LLC (The), 2024 Refinancing Term Loans, 8.918%, (TSFR1M+5.250%), 10/06/2028 | 149063 | 0.0 |
| 524318 | Edelman Financial Engines Center LLC (The), 2024-2 Refinancing Term Loan, 6.673%, (TSFR1M+3.000%), 04/07/2028 | 524350 | 0.0 |
| 115209 <sup>(7)(8)</sup> | First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc., Delayed Draw Term Loan, 08/16/2032 | 113769 | 0.0 |
| 673104 | First Eagle Holdings Inc.-f/k/a Arnhold and S. Bleicroeder Holdings Inc., Initial Term Loan, 7.172%, (TSFR3M+3.500%), 08/16/2032 | 673357 | 0.1 |
| 1008877 | Focus Financial Partners LLC, Tranche B Incremental Term Loan, 6.168%, (TSFR1M+2.500%), 09/15/2031 | 977192 | 0.1 |
| 274450 | Gategroup Finance (Luxembourg) S.A., Senior Facility B2 (USD), 7.190%, (TSFR3M+3.500%), 06/10/2032 | 274724 | 0.0 |
| 50218 | Goosehead Insurance Holdings, LLC, 2025 Term Loan B, 6.678%, (TSFR1M+3.000%), 01/08/2032 | 49213 | 0.0 |
| 560000 | Gryphon Acquire NewCo LLC, Term Loan B, 6.675%, (TSFR3M+3.000%), 09/10/2032 | 561166 | 0.1 |
| 367429 | Guardian US Holdco LLC, Initial Term Loan, 6.950%, (TSFR3M+3.250%), 01/31/2030 | 354569 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 342891 | HIG Finance 2 Limited, 2025-3 Dollar Refinancing Term Loan, 6.423%, (TSFR1M+2.750%), 04/18/2030 | $335128 | 0.0 |
| 447387 | HighTower Holding LLC, Amendment No. 10 Replacement Term Loan, 6.413%, (TSFR3M+2.750%), 02/03/2032 | 442354 | 0.0 |
| 255473 | HUB International Ltd, 2025 Incremental Term Loan, 5.920%, (TSFR3M+2.250%), 06/20/2030 | 255153 | 0.0 |
| 537945 | IMC Financing LLC, Term Loan, 6.675%, (TSFR1M+3.000%), 06/21/2032 | 540635 | 0.0 |
| 1116328 | Jane Street Group LLC, Extended Term Loan, 5.673%, (TSFR3M+2.000%), 12/15/2031 | 1096482 | 0.1 |
| 1300000 <sup>(7)</sup> | Jupiter Borrower, Inc., Term Loan B, 03/25/2033 | 1300000 | 0.1 |
| 144270 | Kestra Advisor Services Holdings A Inc., A&R Amendment No.1 Replacement Term Loan, 6.668%, (TSFR1M+3.000%), 03/22/2031 | 143379 | 0.0 |
| 890000 | Osaic Holdings Inc (f/k/a Advisor Group Holdings Inc), Term B-1 Loan, 6.200%, (TSFR3M+2.500%), 07/30/2032 | 874301 | 0.1 |
| 344091 | Osttra Group Ltd., Term Loan (First Lien), 7.150%, (TSFR3M+3.500%), 10/08/2032 | 341152 | 0.0 |
| 121431 | RHP Hotel Properties LP, Second Incremental Tranche B Term Loan, 5.418%, (TSFR1M+1.750%), 05/18/2030 | 121305 | 0.0 |
| 531972 | Ryan Specialty Group LLC, 2024 Term Loan B, 5.668%, (TSFR1M+2.000%), 09/15/2031 | 531972 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Financial: (continued)** |  |  |
| 1044319 | Sedgwick Claims Management Services Inc., 2024 Term Loan, 6.173%, (TSFR1M+2.500%), 07/31/2031 | $1026417 | 0.1 |
| 278600 | Starwood Property Mortgage LLC, Incremental Term B-2 Loan, 5.923%, (TSFR1M+2.250%), 09/24/2032 | 279413 | 0.0 |
| 390077 | Starwood Property Mortgage LLC, Term B-5 Loan, 5.668%, (TSFR1M+2.000%), 01/02/2030 | 390565 | 0.0 |
| 213264 | Trucordia Insurance Holdings LLC, Initial Term Loan, 6.918%, (TSFR1M+3.250%), 06/17/2032 | 197269 | 0.0 |
| 235081 | Truist Insurance Holdings, LLC, 2024 Term Loan B, 6.450%, (TSFR3M+2.750%), 05/06/2031 | 232083 | 0.0 |
| 78947 | Truist Insurance Holdings, LLC, Initial Term Loans (Second Lien), 8.450%, (TSFR3M+4.750%), 05/06/2032 | 78388 | 0.0 |
| 445696 | USI Inc., 2024 Term Loan, 5.950%, (TSFR3M+2.250%), 09/27/2030 | 444813 | 0.0 |
| 483921 | USI Inc., 2024 Term Loan D, 5.950%, (TSFR3M+2.250%), 11/21/2029 | 482971 | 0.0 |
| 287100 | VFH Parent LLC, Term Loan B-2, 6.168%, (TSFR1M+2.500%), 06/21/2031 | 287459 | 0.0 |
| 223875 | Victory Capital Holdings Inc., Tranche B-3 Term Loan, 5.700%, (TSFR3M+2.000%), 09/23/2032 | 223618 | 0.0 |
|  |  | **24727604** | **1.2** |
|  | **Health Care: 0.1%** |  |  |
| 356033 | Embecta Corp, Initial Term Loan, 6.673%, (TSFR1M+3.000%), 03/30/2029 | 356393 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Health Care: (continued)** |  |  |
| 466117 | Pacific Dental Services LLC, Term Loan USD 1BN, 6.175%, (TSFR1M+2.500%), 03/15/2031 | $466991 | 0.1 |
|  |  | **823384** | **0.1** |
|  | **Industrial: 1.5%** |  |  |
| 216471 <sup>(7)</sup> | Aegion Corporation, Delayed Draw Term Loan, 04/25/2033 | 214621 | 0.0 |
| 1623529 <sup>(7)</sup> | Aegion Corporation, Term Loan, 04/25/2033 | 1611353 | 0.1 |
| 363373 | Alliance Laundry Systems LLC, Initial Term B Loans, 5.917%, (TSFR3M+2.250%), 08/19/2031 | 363487 | 0.0 |
| 434484 | Altium Packaging LLC, 2024 Refinancing Term Loan, 6.168%, (TSFR1M+2.500%), 06/11/2031 | 420906 | 0.0 |
| 12897 | Arcosa, Inc., 2025 Refinancing Term Loan, 5.668%, (TSFR1M+2.000%), 10/01/2031 | 12908 | 0.0 |
| 391797 | Azuria Water Solutions Inc., 2025 Replacement Term Loan, 6.668%, (TSFR1M+3.000%), 05/17/2028 | 388858 | 0.0 |
| 517400 | BCP VI Summit Holdings LP, Initial Term Loan, 6.668%, (TSFR1M+3.000%), 01/30/2032 | 517831 | 0.0 |
| 355000 | BG MS US HOLDINGS, LLC, Term B Loan, 8.450%, (TSFR3M+4.750%), 10/22/2032 | 353669 | 0.0 |
| 477628 | Bombardier Recreational Products Inc., 2024 Extended Term Loan, 5.918%, (TSFR1M+2.250%), 01/22/2031 | 478590 | 0.0 |
| 325000 <sup>(7)</sup> | BradyPLUS Holdings, LLC, Term Loan B, 12/29/2032 | 320531 | 0.0 |
| 162530 | Brown Group Holding LLC, Incremental Term B-2 Facility, 6.173%, (TSFR3M+2.500%), 07/01/2031 | 162974 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 1457675 | Chariot Buyer LLC, 2025 New Term Loan B, 6.423%, (TSFR1M+2.750%), 09/08/2032 | $1445262 | 0.1 |
| 306344 | Chart Industries, Inc., 2024 Term Loan B, 6.161%, (TSFR3M+2.500%), 03/15/2030 | 306472 | 0.0 |
| 63435 | Clydesdale Acquisition Holdings Inc., 2025 Incremental Closing Date Term B Loan, 6.918%, (TSFR1M+3.250%), 04/01/2032 | 59382 | 0.0 |
| 512400 | Clydesdale Acquisition Holdings Inc., Term B Loan, 6.848%, (TSFR1M+3.175%), 04/13/2029 | 490054 | 0.0 |
| 141256 | Coherent Corp (f/k/a II-VI Incorporated), New Term Loan B, 5.418%, (TSFR1M+1.750%), 07/02/2029 | 141609 | 0.0 |
| 498688 | Construction Partners Inc., Closing Date Loans, 6.168%, (TSFR1M+2.500%), 11/03/2031 | 499155 | 0.0 |
| 264338 | CoorsTek, Inc., Term Loan B, 6.671%, (TSFR3M+3.000%), 10/28/2032 | 265990 | 0.0 |
| 361999 | Cornerstone Building Brands Inc., Tranche B, 7.010%, (TSFR1M+3.250%), 04/12/2028 | 205736 | 0.0 |
| 471143 | Cp Iris Holdco I, Inc., 2025 1st Lien TLB (Strip), 7.668%, (TSFR1M+4.000%), 10/27/2032 | 468395 | 0.0 |
| 13857 <sup>(7)(8)</sup> | Cp Iris Holdco I, Inc., Delayed Draw Commitment, 10/27/2032 | 13776 | 0.0 |
| 361350 | Crown Equipment Corporation, Initial Term B-2, 5.668%, (TSFR1M+2.000%), 10/10/2031 | 362253 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 292050 | Crown Subsea Communications Holding Inc., 2026 Term Loans, 6.668%, (TSFR1M+3.000%), 01/30/2031 | $293145 | 0.0 |
| 857850 | DG Investment Intermediate Holdings 2 Inc., Tranche B, 6.923%, (TSFR1M+3.250%), 07/09/2032 | 857850 | 0.1 |
| 487002 | Doosan Bobcat North America Inc (f/k/a Clark Equipment Company), Tranche B Term Loans, 5.700%, (TSFR3M+2.000%), 04/20/2029 | 487489 | 0.0 |
| 271848 | Dynasty Acquisition Co Inc., Initial Term B-1 Loan, 5.668%, (TSFR1M+2.000%), 10/31/2031 | 272264 | 0.0 |
| 103402 | Dynasty Acquisition Co Inc., Initial Term B-2 Loan, 5.668%, (TSFR1M+2.000%), 10/31/2031 | 103564 | 0.0 |
| 168970 | EMRLD Borrower LP, Initial Term B Loan, 5.923%, (TSFR3M+2.250%), 05/31/2030 | 168912 | 0.0 |
| 428312 | Filtration Group Corporation, 2025-B Incremental Dollar Term Loan, 6.423%, (TSFR1M+2.750%), 10/23/2028 | 429056 | 0.0 |
| 148125 | Frontdoor Inc., 2024 Term Loan B, 5.918%, (TSFR1M+2.250%), 12/17/2031 | 148588 | 0.0 |
| 799339 | Genesee & Wyoming Inc., Initial Term Loan B, 5.450%, (TSFR3M+1.750%), 04/10/2031 | 796342 | 0.1 |
| 313425 | GFL Environmental Services Inc., Initial Term Loan, 6.166%, (TSFR3M+2.500%), 03/03/2032 | 313817 | 0.0 |
| 540000 | Graham Packaging Company Inc., Initial Term Loan, 5.918%, (TSFR1M+2.250%), 01/26/2033 | 534937 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 325000 | Green Infrastructure Partners Inc., Initial Term Loan, 6.450%, (TSFR3M+2.750%), 09/24/2032 | $325000 | 0.0 |
| 500000 <sup>(7)</sup> | Griffon Corporation, Repriced Term Loan, 01/24/2029 | 501328 | 0.0 |
| 442536 | Hillenbrand Inc., Term Loan B, 7.168%, (TSFR1M+3.500%), 02/10/2033 | 437004 | 0.0 |
| 619220 | Ingram Micro Inc., Term Loan B2, 5.935%, (TSFR3M+2.250%), 09/22/2031 | 621542 | 0.1 |
| 483875 | Jenmar Intermediate III, LLC, Term Loan, 8.678%, (TSFR1M+5.000%), 12/16/2030 | 480246 | 0.0 |
| 482195 | Kenan Advantage Group Inc (The), Term Loan B4, 6.918%, (TSFR1M+3.250%), 01/25/2029 | 477575 | 0.0 |
| 324702 | Lsf11 Trinity Bidco, Inc., 2025 Term Loan B, 6.181%, (TSFR1M+2.500%), 06/14/2030 | 324702 | 0.0 |
| 654140 | Lsf12 Crown Us Commercial Bidco, LLC, 2026 Refinancing Term Loan, 6.668%, (TSFR1M+3.000%), 12/02/2031 | 655449 | 0.1 |
| 281680 | Madison Iaq LLC, 2025 Repriced Incremental Term Loan, 6.378%, (TSFR6M+2.750%), 11/08/2032 | 282428 | 0.0 |
| 289326 | Madison Iaq LLC, Initial Term Loan, 6.128%, (TSFR6M+2.500%), 06/21/2028 | 289608 | 0.0 |
| 460351 | Madison Safety & Flow LLC, 2025-B Incremental Term B, 6.176%, (TSFR1M+2.500%), 09/26/2031 | 461119 | 0.0 |
| 163766 | MV Holding GmbH FKA Igloo Holdings Corp, Senior Facility B (USD) Loan, 5.668%, (TSFR1M+2.000%), 03/17/2032 | 164380 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 593513 | Pac Dac LLC, Initial Term Loans, 6.917%, (TSFR3M+3.250%), 10/28/2030 | $585352 | 0.1 |
| 293525 | Plastipak Packaging Inc., Tranche B Term Loan, 6.168%, (TSFR1M+2.500%), 09/10/2032 | 290681 | 0.0 |
| 486834 | Pre Paid Legal Services Inc., First Lien Initial Term Loans, 6.918%, (TSFR1M+3.250%), 12/15/2028 | 424276 | 0.0 |
| 1057350 | Pro Mach, Amendment No 6 Term Loan, 6.418%, (TSFR1M+2.750%), 10/18/2032 | 1056227 | 0.1 |
| 135000 | Project Aurora Holdco 1 Limited, Facility B2, 6.450%, (TSFR3M+2.750%), 12/06/2032 | 135337 | 0.0 |
| 83308 | Quikrete Holdings Inc., New Tranche B-1 Term Loan, 5.918%, (TSFR1M+2.250%), 04/14/2031 | 83250 | 0.0 |
| 1283165 | Quikrete Holdings Inc., Term Loan B (2029), 5.918%, (TSFR1M+2.250%), 03/19/2029 | 1283018 | 0.1 |
| 674900 | Red SPV LLC, Initial Term Loan, 5.925%, (TSFR1M+2.250%), 03/15/2032 | 674900 | 0.1 |
| 30857 <sup>(8)</sup> | Salas O'Brien Inc., DDTL, 6.424%, (TSFR1M+2.750%), 01/31/2033 | 30934 | 0.0 |
| 239143 | Salas O'Brien Inc., Initial Term Loan, 6.418%, (TSFR1M+2.750%), 01/31/2033 | 239143 | 0.0 |
| 193538 | Savage Enterprises LLC, Term Loan B, 6.169%, (TSFR1M+2.500%), 08/05/2032 | 193800 | 0.0 |
| 587884 | Smyrna Ready Mix Concrete LLC, 2025 Term Loan, 6.668%, (TSFR1M+3.000%), 04/02/2029 | 587884 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Industrial: (continued)** |  |  |
| 141058 | Standard Industries Inc., Initial Term Loan, 5.484%, (TSFR1M+2.250%), 09/22/2028 | $141139 | 0.0 |
| 349125 | Stonepeak Nile Parent LLC, Amendment No 1 Term Loan, 5.917%, (TSFR3M+2.250%), 04/09/2032 | 348931 | 0.0 |
| 397622 | Tecta America Corp, 2025 Incremental Term Loan, 6.423%, (TSFR1M+2.250%), 02/18/2032 | 396735 | 0.0 |
| 523252 | Third Coast Infrastructure LLC, 2025 Refinancing Term Loans, 7.418%, (TSFR1M+3.750%), 09/25/2030 | 527176 | 0.0 |
| 733503 | TK Elevator Midco Gmbh, (Usd) Term Loan B, 6.377%, (TSFR6M+2.750%), 04/30/2030 | 735795 | 0.1 |
| 1220000 <sup>(7)</sup> | TK Elevator Midco Gmbh, Term Loan B, 04/30/2030 | 1223812 | 0.1 |
| 363175 | Transdigm, Tranche M Term Loans, 6.168%, (TSFR1M+2.500%), 08/19/2032 | 363458 | 0.0 |
| 732609 | Transdigm Inc., New Tranche K Term Loan, 5.918%, (TSFR1M+2.250%), 03/22/2030 | 733367 | 0.1 |
| 850000 | TransDigm Inc., Tranche N Term Loan, 6.168%, (TSFR1M+2.250%), 02/10/2033 | 851195 | 0.1 |
| 235000 | Us Metalco Holdings LLC, Initial Term Loan, 6.656%, (TSFR3M+3.000%), 12/20/2032 | 236175 | 0.0 |
| 278742 | Watlow Electric Manufacturing Company, Term Loan B, 6.667%, (TSFR3M+3.000%), 03/02/2028 | 279033 | 0.0 |
|  |  | **29951775** | **1.5** |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Leisure Good/Activities/Movies: 0.0%** | **Leisure Good/Activities/Movies: 0.0%** | **Leisure Good/Activities/Movies: 0.0%** |
| 545936 | Hayward Industries Inc., First Lien Initial Term Loan, 6.282%, (TSFR1M+2.610%), 05/30/2028 | $547642 | 0 |
|  | **Lodging & Casinos: 0.0%** |  |  |
| 320768 | Hilton Grand Vacations Borrower LLC, Initial Term Loan, 5.668%, (TSFR1M+2.000%), 08/02/2028 | 320893 | 0 |
|  | **Technology: 1.0%** |  |  |
| 357296 | Adeia Inc., Amendment No 4 Term Loan B, 6.168%, (TSFR1M+2.500%), 06/08/2028 | 357296 | 0 |
| 681460 | Altar Bidco Inc., Initial Term Loan, 6.608%, (TSFR3M+3.100%), 02/01/2029 | 678620 | 0.1 |
| 385575 | Amentum Holdings LLC, Initial Term Loan, 5.668%, (TSFR1M+2.000%), 09/29/2031 | 385876 | 0 |
| 115000 | Applied Systems Inc., Initial Term Loan (2024) (Second Lien), 8.200%, (TSFR3M+4.500%), 02/23/2032 | 113706 | 0 |
| 511996 | Applied Systems Inc., Tranche B-1 Term Loan, 5.950%, (TSFR3M+2.250%), 02/24/2031 | 502663 | 0 |
| 473452 | Ascend Learning LLC, Amendment No 5 Term Loan, 6.668%, (TSFR1M+3.000%), 12/11/2028 | 463194 | 0 |
| 880441 | AthenaHealth Group Inc., Tranche B, 6.423%, (TSFR1M+2.750%), 02/15/2029 | 866291 | 0.1 |
| 428227 | BCPE Pequod Buyer Inc., Initial Term Loan, 6.417%, (TSFR1M+2.750%), 11/25/2031 | 416004 | 0 |
| 272250 | BMC Software (Boxer/ Bladelogic), 2031 Replacement Dollar Term Loan, 6.673%, (TSFR3M+3.000%), 07/30/2031 | 252980 | 0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** |  |  |
| 222739 | Central Parent LLC, 2024 Refinance Term Loan, 6.922%, (TSFR3M+3.250%), 07/06/2029 | $159620 | 0.0 |
| 149250 | Clearwater Analytics LLC, Initial Term Loans, 5.675%, (TSFR1M+2.000%), 04/21/2032 | 149281 | 0.0 |
| 314509 | Connectwise, LLC, Initial Term Loan, 7.461%, (TSFR3M+3.762%), 09/29/2028 | 290724 | 0.0 |
| 213388 | Cotiviti Inc., Amendment No 2 Term Loan, 6.418%, (TSFR1M+2.750%), 03/26/2032 | 197117 | 0.0 |
| 372289 | Dayforce Inc., Initial Term Loans, 6.661%, (TSFR3M+3.000%), 02/04/2033 | 353302 | 0.0 |
| 347376 | Disco Parent Inc., Term Loan, 6.673%, (TSFR3M+3.000%), 08/06/2032 | 341297 | 0.0 |
| 543125 | Dragon Buyer, Inc., Term Loan, 6.450%, (TSFR3M+2.750%), 09/30/2031 | 518685 | 0.0 |
| 469901 | ECI Macola / Max Holding LLC, 2025 Repricing Term Loan, 6.450%, (TSFR3M+2.750%), 05/09/2030 | 460600 | 0.0 |
| 845795 | Epicor Software Corporation, Term F Loans, 6.168%, (TSFR1M+2.500%), 05/30/2031 | 830253 | 0.1 |
| 246884 | Fortress Intermediate 3 Inc., 2025 Tlb, 6.669%, (TSFR1M+3.000%), 06/27/2031 | 245341 | 0.0 |
| 300000 | Genesys Cloud Services Holdings II LLC (f/k/a Greeneden US Holdings II LLC), 2025 Dollar Term Loans, 6.168%, (TSFR1M+2.500%), 01/30/2032 | 287250 | 0.0 |
| 597004 | Icon Parent I Inc., Tranche B, 6.445%, (TSFR3M+2.750%), 11/13/2031 | 573684 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** |  |  |
| 170987 | Imagine Learning LLC, 2024 Term Loan, 7.168%, (TSFR1M+3.500%), 12/21/2029 | $159402 | 0.0 |
| 150000 | Kaseya Inc., Initial Term Loan, 8.668%, (TSFR1M+5.000%), 03/05/2033 | 120250 | 0.0 |
| 282150 | Kaseya Inc., Term Loan, 6.672%, (TSFR1M+3.000%), 03/20/2032 | 264075 | 0.0 |
| 459228 | Leia Finco US LLC, Initial Term Loan, 6.898%, (TSFR3M+3.250%), 10/09/2031 | 440716 | 0.0 |
| 486328 | Mcafee Corp, Refinancing Tranche B-1, 6.668%, (TSFR1M+3.000%), 03/01/2029 | 436045 | 0.0 |
| 197500 | Minerals Technologies Inc., Term Loan B, 5.668%, (TSFR1M+2.000%), 11/21/2031 | 198241 | 0.0 |
| 541767 | Mitchell International, Inc., AnR Amendment No.1 Term Loan, 6.668%, (TSFR1M+2.250%), 06/17/2031 | 519516 | 0.0 |
| 270000 | MKS Instruments Inc., 2026-1 Dollar Term B Loans, 5.414%, (TSFR1M+2.250%), 02/04/2033 | 270900 | 0.0 |
| 1410000 <sup>(7)</sup> | Oak-Eagle Acquireco, Inc., Tranche B, 03/24/2033 | 1403611 | 0.1 |
| 96845 | Oceankey (U.S.) II Corp, Term Loan, 7.268%, (TSFR1M+3.500%), 12/15/2028 | 91357 | 0.0 |
| 235693 | Open Text Corporation, 2024-A Replacement Term Loan, 5.418%, (TSFR1M+1.750%), 01/31/2030 | 231163 | 0.0 |
| 188522 | Playtika Holding Corp., Tranche B1, 6.581%, (TSFR1M+2.750%), 03/13/2028 | 177352 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** |  |  |
| 584115 | PointClickCare Technologies, Tranche B, 6.422%, (TSFR3M+2.750%), 11/03/2031 | $581742 | 0.1 |
| 827382 | Project Boost Purchaser LLC, 1L Intial Term Loan, 6.450%, (TSFR3M+2.750%), 07/16/2031 | 798769 | 0.1 |
| 369773 | Project Ruby Ultimate Parent Corp, Tranche B5, 6.537%, (TSFR1M+2.865%), 03/10/2028 | 368464 | 0 |
| 389053 | RealPage Inc., First Lien Initial Term Loan, 6.961%, (TSFR3M+3.262%), 04/24/2028 | 373349 | 0 |
| 573563 | Red Planet Borrower LLC, Initial Term Loan, 7.673%, (TSFR1M+4.000%), 09/08/2032 | 561948 | 0.1 |
| 446195 | Rocket Software Inc., Term Loan, 7.418%, (TSFR1M+3.750%), 11/28/2028 | 429017 | 0 |
| 359916 | Skopima Consilio Parent LLC (FKA GI Consilio), Amendment No. 5 Term Loans, 7.418%, (TSFR1M+3.750%), 05/12/2028 | 282534 | 0 |
| 433065 | SS&C Technologies Holdings, Inc., Term Loan B-8 Loan, 5.673%, (TSFR1M+2.000%), 05/09/2031 | 432215 | 0 |
| 451326 | The Knot Worldwide Inc., Amendment No 5 term Loan, 7.418%, (TSFR1M+3.750%), 01/31/2028 | 387764 | 0 |
| 648371 | UKG Inc., Term Loan B, 6.167%, (TSFR3M+2.500%), 02/10/2031 | 620410 | 0.1 |
| 471469 | Veeam Software/ VS Buyer, 2025 Repriced 1St Lien Tlb, 5.917%, (TSFR3M+2.250%), 04/14/2031 | 462039 | 0 |
| 488753 | Virtusa Corporation, Term B-2 Loan, 6.918%, (TSFR1M+3.250%), 02/15/2029 | 442627 | 0 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |
|  | **Technology: (continued)** |  |  |
| 386086 | Waystar Technologies Inc., Initial Term Loan B, 5.668%, (TSFR1M+2.000%), 10/22/2029 | $386087 | 0.0 |
| 704675 | World Wide Technology Holding Co LLC, 2025 Refinancing Term Loan, 5.668%, (TSFR1M+2.000%), 03/01/2030 | 703574 | 0.1 |
|  |  | **19586951** | **1.0** |
|  | **Utilities: 0.2%** |  |  |
| 480720 | AL GCX Holdings LLC, Initial Term Loan B, 5.673%, (TSFR1M+2.000%), 01/30/2032 | 481020 | 0.1 |
| 216700 | Alpha Generation LLC, Initial Term B Loan, 5.418%, (TSFR1M+1.750%), 09/30/2031 | 216389 | 0.0 |
| 260531 | Bip Pipeco Holdings LLC, Term Loan, 5.896%, (TSFR3M+2.250%), 12/06/2030 | 261101 | 0.0 |
| 265000 | Calpine Construction Finance Company L P, 2025 Refinancing Term Loan, 5.418%, (TSFR1M+1.750%), 07/31/2030 | 265456 | 0.0 |
| 971800 | Discovery Energy Holding Corporation, Term Loan, 6.700%, (TSFR3M+3.000%), 05/01/2031 | 971800 | 0.1 |
| 329975 | Lightning Power, LLC, Initial Term B Loan, 5.923%, (TSFR1M+2.250%), 08/18/2031 | 331006 | 0.0 |
| 143899 | NRG Energy Inc., Term Loan, 5.521%, (TSFR3M+1.850%), 04/16/2031 | 144299 | 0.0 |
| 312188 | Vistra Operations Company LLC, 2018 Incremental Term Loan, 5.418%, (TSFR1M+1.750%), 12/20/2030 | 312599 | 0.0 |
|  |  | **2983670** | **0.2** |
|  | Total Bank Loans<br> (Cost $169,398,466) | **167672457** | **8.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net <br> Assets** |
| **SOVEREIGN BONDS: 3.2%** | **SOVEREIGN BONDS: 3.2%** | **SOVEREIGN BONDS: 3.2%** | **SOVEREIGN BONDS: 3.2%** |
| <sup>BRL</sup>6628000 | Brazil Notas do Tesouro Nacional Serie B NTNB, 6.000%, 08/15/2050 | $5172664 | 0.3 |
| 2875000 | Brazilian Government International Bond, 6.625%, 03/15/2035 | 2947594 | 0.1 |
| 206000 | Colombia Government International Bond, 5.200%, 05/15/2049 | 148526 | 0 |
| 1675000 | Colombia Government International Bond, 6.125%, 01/21/2031 | 1651969 | 0.1 |
| 1000000 | Colombia Government International Bond, 6.500%, 01/21/2033 | 979750 | 0 |
| 900000 | Colombia Government International Bond, 7.750%, 11/07/2036 | 922973 | 0 |
| 1000000 | Colombia Government International Bond, 8.375%, 11/07/2054 | 1034750 | 0.1 |
| 1775000 <sup>(1)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 | 1781212 | 0.1 |
| 1436000 | Mexico Government International Bond, 5.850%, 07/02/2032 | 1453986 | 0.1 |
| 1750000 | Mexico Government International Bond, 6.125%, 02/09/2038 | 1713294 | 0.1 |
| 1169000 | Mexico Government International Bond, 6.625%, 01/29/2038 | 1191240 | 0.1 |
| 656000 | Mexico Government International Bond, 7.375%, 05/13/2055 | 690302 | 0 |
| <sup>PEN</sup>78967000 | Peru Government Bond, 5.350%, 08/12/2040 | 19054456 | 1 |
| <sup>PLN</sup>93201000 | Republic of Poland Government Bond 1035, 5.000%, 10/25/2035 | 23521816 | 1.2 |
| 550000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.950%, 11/19/2054 | 545188 | 0 |
| 625000 <sup>(2)</sup> | Republic of South Africa Government International Bond 10Y, 5.875%, 04/20/2032 | 625781 | 0 |
|  | Total Sovereign Bonds<br> (Cost $66,811,595) | **63435501** | **3.2** |
| **U.S. TREASURY OBLIGATIONS: 0.4%** | **U.S. TREASURY OBLIGATIONS: 0.4%** | **U.S. TREASURY OBLIGATIONS: 0.4%** |  |
|  | **United States Treasury Bonds: 0.2%** | **United States Treasury Bonds: 0.2%** | **United States Treasury Bonds: 0.2%** |
| 5749200 | 4.625%, 11/15/2055 | 5494079 | 0.2 |
|  | **United States Treasury Notes: 0.2%** | **United States Treasury Notes: 0.2%** | **United States Treasury Notes: 0.2%** |
| 1116300 | 3.500%, 03/15/2029 | 1106489 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
|  | **United States Treasury Notes (continued)** | **United States Treasury Notes (continued)** | **United States Treasury Notes (continued)** |
| 2416000 | 3.875%, 03/31/2028 | $2419681 | 0.1 |
|  |  | **3526170** | **0.2** |
|  | Total U.S. Treasury Obligations<br> (Cost $9,268,650) | **9020249** | **0.4** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **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>(9)</sup> | Yak Access LLC Series A | 54 | 0.0 |
| 1157 <sup>(9)</sup> | Yak Access LLC Series B | 11 | 0.0 |
|  |  | **65** | **0.0** |
|  | **Consumer Discretionary: —%** |  |  |
| 113 <sup>(9)</sup> | Travelport Tech Ltd. |  |  |
|  | Total Common Stock<br> (Cost $257,818) | **65** | **0.0** |
| **PURCHASED OPTIONS<sup>(10)</sup>: 0.1%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.1%** | **PURCHASED OPTIONS<sup>(10)</sup>: 0.1%** |  |
|  | Total Purchased Options<br> (Cost $2,497,361) | 2478978 | 0.1 |
|  | Total Long-Term Investments<br> (Cost $2,015,804,383) | **1981401942** | **98.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **Value** | **Percentage <br> of Net <br> Assets** |
| **SHORT-TERM INVESTMENTS: 11.6%** | **SHORT-TERM INVESTMENTS: 11.6%** | **SHORT-TERM INVESTMENTS: 11.6%** | **SHORT-TERM INVESTMENTS: 11.6%** |
|  | **Commercial Paper: 9.5%** |  |  |
| 34000000 | AutoZone Disc, 3.980%, 04/07/2026 | 33974085 | 1.7 |
| 4000000 | BASF SE, 4.180%, 06/10/2026 | 3967756 | 0.2 |
| 14000000 | BASF SE, 4.200%, 06/29/2026 | 13856500 | 0.7 |
| 15000000 | Concord Minutemen Capital Co. LLC, 3.970%, 05/26/2026 | 14909265 | 0.7 |
| 20000000 | Constellation Energy Generation LLC, 4.600%, 05/22/2026 | 19869788 | 1 |
| 1499000 | Duke Energy Corp., 4.100%, 06/05/2026 | 1487974 | 0.1 |
| 6100000 | Eaton Corp., 4.010%, 04/02/2026 | 6098659 | 0.3 |
| 18000000 | Entergy Corp., 4.190%, 06/08/2026 | 17858446 | 0.9 |
| 1615000 | Equifax, Inc., 4.030%, 04/07/2026 | 1613753 | 0.1 |
| 17000000 | Equifax, Inc., 4.100%, 04/20/2026 | 16961918 | 0.8 |
| 17000000 | Equifax, Inc., 4.150%, 05/01/2026 | 16940264 | 0.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal<br> Amount†** | | **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)** |  |  |
| 5000000 | Florida Power & Light Co., 3.860%, 04/06/2026 | $4996831 | 0.3 |
| 4000000 | Jupiter Security Corp., 3.740%, 04/01/2026 | 3999590 | 0.2 |
| 15000000 | McCormick & Co., Inc., 4.150%, 04/30/2026 | 14949000 | 0.7 |
| 2200000 | Mondelez International, Inc., 4.050%, 04/23/2026 | 2194397 | 0.1 |
| 3500000 | Parker-Hannifin Corp., 4.070%, 04/16/2026 | 3493766 | 0.2 |
| 5000000 | Parker-Hannifin Corp., 4.140%, 05/18/2026 | 4972920 | 0.3 |
| 7100000 <sup>(1)</sup> | The Sherwin-Williams Co., 3.900%, 04/28/2026 | 7078799 | 0.4 |
|  | Total Commercial Paper<br> (Cost $189,279,584) | **189223711** | **9.5** |
|  | **Repurchase Agreements: 1.6%** |  |  |
| 6666085 <sup>(11)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $6,666,755, collateralized by various U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $6,799,407, due 05/12/27-02/20/66) | 6666085 | 0.3 |
| 1367535 <sup>(11)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.680%, due 04/01/2026 (Repurchase Amount $1,367,673, collateralized by various U.S. Government Securities, 0.000%-3.875%, Market Value plus accrued interest $1,394,886, due 06/25/26-02/15/43) | 1367535 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 2202660 <sup>(11)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.700%, due 04/01/2026 (Repurchase Amount $2,202,883, collateralized by various U.S. Government Agency Obligations, 0.000%-5.350%, Market Value plus accrued interest $2,246,726, due 06/22/26-02/23/44) | $2202660 | 0.1 |
| 5990466 <sup>(11)</sup> | Marex Capital Markets Inc., Repurchase Agreement dated 03/31/2026, 3.730%, due 04/01/2026 (Repurchase Amount $5,991,078, collateralized by various U.S. Government/U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $6,110,275, due 08/31/29-04/01/56) | 5990466 | 0.3 |
| 1673431 <sup>(11)</sup> | National Bank Financial Inc., Repurchase Agreement dated 03/31/2026, 3.710%, due 04/01/2026 (Repurchase Amount $1,673,601, collateralized by various U.S. Government Securities, 0.000%-4.625%, Market Value plus accrued interest $1,706,900, due 04/01/26) | 1673431 | 0.1 |
| 7304915 <sup>(11)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $7,305,647, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $7,451,014, due 05/05/26-01/15/66) | 7304915 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **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)** |
| 7032245 <sup>(11)</sup> | State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/2026, 3.780%, due 04/01/2026 (Repurchase Amount $7,032,973, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $7,161,655, due 04/15/28-02/15/56) | $7032245 | 0.3 |
|  | Total Repurchase Agreements<br> (Cost $32,237,337) | **32237337** | **1.6** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage <br> of Net <br> Assets** |
|  | **Mutual Funds: 0.5%** |  |  |
| 10983533 <sup>(12)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 3.550%<br> (Cost $10,983,533) | $**10983533** | **0.5** |
|  | Total Short-Term Investments<br> (Cost $232,500,454) | **232444581** | **11.6** |
|  | **Total Investments in Securities<br> (Cost $2,248,304,837)**  | $**2213846523** | **110.3** |
|  | **Liabilities in Excess of Other Assets** | **(206445611)** | **(10.3)** |
|  | **Net Assets** | $**2007400912** | **100.0** |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | |
|:---|:---|
| <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> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <sup>(4)</sup> | Represents or includes a "to be announced" (TBA) security transaction. |
| <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. |
| <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> | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| <sup>(10)</sup> | The tables within the Portfolio of Investments detail open purchased options which are non-income producing securities. |
| <sup>(11)</sup> | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| <sup>(12)</sup> | Rate shown is the 7-day yield as of March 31, 2026. |

---

---

| | |
|:---|:---|
| Currency Abbreviations: | Currency Abbreviations: |
| BRL | Brazilian Real |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |

---

---

| | |
|:---|:---|
| Reference Rate Abbreviations: | 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 PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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 at <br> March 31, 2026** |
| **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** | **Asset Table** |
| **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** | **Investments, at fair value** |
| Common Stock | Common Stock | Common Stock | Common Stock | Common Stock |
| &nbsp;&nbsp;&nbsp;Business Equipment & Services | $— | $— | $65 | $65 |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary |  |  |  |  |
| Total Common Stock |  |  | 65 | 65 |
| Corporate Bonds/Notes |  | 530317088 |  | 530317088 |
| Collateralized Mortgage Obligations |  | 526381698 |  | 526381698 |
| Commercial Mortgage-Backed Securities |  | 291117771 |  | 291117771 |
| U.S. Government Agency Obligations |  | 200434329 |  | 200434329 |
| Asset-Backed Securities |  | 190543806 |  | 190543806 |
| Bank Loans |  | 167672457 |  | 167672457 |
| Sovereign Bonds |  | 63435501 |  | 63435501 |
| U.S. Treasury Obligations |  | 9020249 |  | 9020249 |
| Purchased Options |  | 2478978 |  | 2478978 |
| Short-Term Investments | 10983533 | 221461048 |  | 232444581 |
| Total Investments, at fair value | $10983533 | $2202862925 | $65 | $2213846523 |
| **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** | **Other Financial Instruments+** |
| Centrally Cleared Credit Default Swaps |  | 1666793 |  | 1666793 |
| Centrally Cleared Inflation-Linked Swaps |  | 28130 |  | 28130 |
| Centrally Cleared Interest Rate Swaps |  | 5111291 |  | 5111291 |
| Forward Foreign Currency Contracts |  | 733922 |  | 733922 |
| Forward Premium Swaptions |  | 1860943 |  | 1860943 |
| Futures | 3651093 |  |  | 3651093 |
| OTC interest rate swaps |  | 160499 |  | 160499 |
| OTC volatility swaps |  | 8358 |  | 8358 |
| Total Assets | $14634626 | $2212432861 | $65 | $2227067552 |
| **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** | **Liabilities Table** |
| **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** | **Other Financial Instruments** |
| Centrally Cleared Credit Default Swaps | $— | $(561714) | $— | $(561714) |
| Centrally Cleared Inflation-Linked Swaps |  | (75640) |  | (75640) |
| Centrally Cleared Interest Rate Swaps |  | (1918446) |  | (1918446) |
| Forward Foreign Currency Contracts |  | (314825) |  | (314825) |
| Forward Premium Swaptions |  | (4486396) |  | (4486396) |
| Futures | (7336008) |  |  | (7336008) |
| OTC interest rate swaps |  | (5606) |  | (5606) |
| OTC total return swaps |  | (718000) |  | (718000) |
| OTC volatility swaps |  | (1322262) |  | (1322262) |
| Sales Commitments |  | (156467090) |  | (156467090) |
| Written Options |  | (3340418) |  | (3340418) |
| Total Liabilities | $(7336008) | $(169210397) | $— | $(176546405) |

---

^ 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 March 31, 2026, the following forward foreign currency contracts were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | <br>**Counterparty** | <br>**Settlement Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 638 | EUR | 556 | Barclays Bank PLC | 04/24/26 | $(5) |
| USD | 34447 | ZAR | 563919 | BNP Paribas | 04/24/26 | 1179 |
| USD | 10658621 | PEN | 36566132 | Citibank N.A. | 04/24/26 | 163632 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | <br>**Counterparty** | <br>**Settlement Date** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| USD | 9955956 | PEN | 34545143 | Citibank N.A. | 04/24/26 | $41019 |
| USD | 14179341 | BRL | 74156874 | Citibank N.A. | 04/24/26 | (76016) |
| ZAR | 160835205 | USD | 9433426 | Goldman Sachs International | 04/24/26 | 54956 |
| USD | 9533345 | ZAR | 162738966 | Goldman Sachs International | 04/24/26 | (67349) |
| USD | 26069874 | PLN | 95279757 | Morgan Stanley Bank N.A. | 04/24/26 | 404248 |
| TRY | 309570150 | USD | 6700000 | Morgan Stanley Bank N.A. | 04/24/26 | 63434 |
| USD | 1641677 | BRL | 8733229 | Morgan Stanley Bank N.A. | 04/24/26 | (37133) |
| USD | 6691591 | TRY | 310811022 | Morgan Stanley Bank N.A. | 04/24/26 | (98953) |
| EUR | 107738 | USD | 125583 | Standard Chartered Bank | 04/24/26 | (916) |
| USD | 178326 | AUD | 250624 | State Street Bank and Trust Co. | 04/24/26 | 5454 |
| JPY | 712648006 | USD | 4534301 | State Street Bank and Trust Co. | 04/24/26 | (34071) |
| USD | 1 | JPY | 200 | Wells Fargo Bank N.A. | 04/24/26 |  |
| USD | 259092 | EUR | 224238 | Wells Fargo Bank N.A. | 04/24/26 | (382) |
|  |  |  |  |  |  | $419097 |

---

At March 31, 2026, 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;&nbsp;U.S. Treasury 2-Year Note | 4300 | 06/30/26 | $892014843 | $(2505620) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 3639 | 06/30/26 | 393665883 | (4830388) |
|  |  |  | $1285680726 | $(7336008) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (648) | 06/18/26 | (71958375) | 1361284 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | (192) | 06/18/26 | (21864000) | 522578 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (625) | 06/18/26 | (70947266) | 1230651 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (119) | 06/18/26 | (13870937) | 536580 |
|  |  |  | $(178640578) | $3651093 |

---

At March 31, 2026, the following centrally cleared credit default swaps were outstanding for Voya Strategic Income Opportunities Fund:

**Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection<sup>(1)</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/Obligation** | **Buy/Sell<br> Protection** | **(Pay)/<br> Receive<br> Financing<br> Rate (%)<sup>(2)</sup>** | **Termination<br> Date** | **Notional<br> Amount<sup>(3)</sup>** | **Notional<br> Amount<sup>(3)</sup>** | **Fair<br> Value<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| CDX Emerging Markets, Series 44, Version 1 | Buy | (1.000) | 12/20/30 | USD | &nbsp;&nbsp;&nbsp;&nbsp;274910000 | $5432138 | $(329784) |
|  |  |  |  |  |  | $5432138 | $(329784) |

---

<sup>(1)</sup> 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.

<sup>(2)</sup> Payments made 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 March 31, 2026, the following centrally cleared credit default swaps were outstanding for Voya Strategic Income Opportunities Fund:

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

**Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection<sup>(1)</sup>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/Obligation** | **Buy/Sell<br> Protection** | **(Pay)/<br> Receive<br> Financing<br> Rate (%)<sup>(2)</sup>** | **Termination<br> Date** | **Notional<br> Amount<sup>(3)</sup>** | **Notional<br> Amount<sup>(3)</sup>** | **Fair<br> Value<sup>(4)</sup>** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| CDX North American High Yield Index, Series |  |  |  |  |  |  |  |
| 46, Version 1 | Sell | 5.000 | 06/20/31 | USD | 185024000 | $8864638 | $1666793 |
| iTraxx Europe, Series 45, Version 1 | Sell | 1.000 | 06/20/31 | EUR | 101695000 | 1612785 | (231930) |
|  |  |  |  |  |  | $10477423 | $1434863 |

---

<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 March 31, 2026, the following centrally cleared interest rate swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **Notional** | **Notional** | | |
| <br>**Pay/Receive**<br>**Floating**<br> **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 | 3-month AUD-BBR-BBSW | Quarterly | 4.687% | Quarterly | 03/25/28 | AUD | 33700000 | $20364 | $20364 |
| Pay | 1-day CAD-CORRA-OIS-COMPOUND | Semi-Annual | 2.781 | Semi-Annual | 03/20/28 | CAD | 49500000 | 41839 | 41839 |
| Pay | 1-day EUR-EuroSTR-COMPOUND | Annual | 2.590 | Annual | 03/26/28 | EUR | 31100000 | 24431 | 24431 |
| Pay | 1-day GBP-SONIA-COMPOUND | Annual | 4.309 | Annual | 03/19/28 | GBP | 37000000 | 42585 | 43384 |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.310 | Annual | 03/08/29 | USD | 218000000 | (326328) | (326328) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 2.994 | Annual | 03/03/28 | USD | 68665000 | (367834) | (367834) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.280 | Annual | 03/13/29 | USD | 51828000 | (92363) | (92363) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.129 | Annual | 03/27/36 | USD | 27533000 | (5752) | (5752) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.040 | Annual | 02/22/57 | USD | 13392000 | (181473) | (181473) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.950 | Annual | 03/02/57 | USD | 7142000 | (203849) | (203849) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.730 | Annual | 03/05/30 | USD | 4000000 | 21648 | 21648 |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 3.962 | Annual | 03/12/57 | USD | 2920000 | (77689) | (77689) |
| Pay | 1-day Secured Overnight Financing Rate | Annual | 4.012 | Annual | 02/17/57 | USD | 1779000 | (32477) | (32477) |
| Pay | 3-month ZAR-JIBAR-SAFEX | Quarterly | 7.605 | Quarterly | 03/25/31 | ZAR | 187251000 | (37896) | (35594) |
| Receive | 6-month PLN WIBOR | Semi-Annual | 4.082 | Annual | 10/25/35 | PLN | 86543000 | 1314102 | 1314102 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.279 | Annual | 03/08/29 | USD | 218000000 | 388552 | 388552 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.299 | Annual | 03/15/28 | USD | 149802000 | 356693 | 356693 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.457 | Annual | 02/25/27 | USD | 137700000 | 317099 | 317100 |
| Receive | 1-day Secured Overnight Financing Rate | Monthly | 3.389 | Monthly | 02/04/29 | USD | 114700000 | 421752 | 421752 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.299 | Annual | 02/24/28 | USD | 109000000 | 676103 | 676103 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.366 | Annual | 02/23/31 | USD | 73500000 | 814399 | 814399 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.428 | Annual | 03/17/29 | USD | 53512000 | 24276 | 24276 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.605 | Annual | 02/14/46 | USD | 30415000 | (13407) | (13407) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.502 | Annual | 02/24/33 | USD | 29300000 | 364950 | 364950 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.618 | Annual | 09/24/35 | USD | 15000000 | 251662 | 251662 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.211 | Annual | 02/14/30 | USD | 14000000 | (317923) | (317923) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.143 | Annual | 02/18/30 | USD | 13000000 | (263757) | (263757) |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.539 | Annual | 07/23/30 | USD | 4000000 | 8801 | 8801 |
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.045 | Annual | 02/24/57 | USD | 1669249 | 21235 | 21235 |
|  |  |  |  |  |  |  |  | $3189743 | $3192845 |

---

At March 31, 2026, the following OTC interest rate swaps were outstanding for Voya Strategic Income Opportunities Fund:

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive Floating Rate** | **Floating Rate Index** | **Floating Rate Index Payment Frequency** | **Counterparty** | **Fixed Rate** | **Fixed Rate Payment Frequency** | **Maturity Date** | **Notional Amount** | **Notional Amount** | **Fair Value** | **Upfront Payments Paid/ (Received)** | **Unrealized Appreciation/ (Depreciation)** |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Goldman Sachs International | 13.680% | Annual | 01/02/29 | BRL | 143698002 | $(5606) | $— | $(5606) |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Goldman Sachs International | 14.020% | Annual | 01/02/29 | BRL | 73287436 | 114668 |  | 114668 |
| Pay | 1-day Overnight Brazil Interbank Deposit | Annual | Morgan Stanley Bank N.A. | 13.900% | Annual | 01/02/29 | BRL | 45403529 | 45831 |  | 45831 |
|  |  |  |  |  |  |  |  |  | $154893 | $— | $154893 |

---

At March 31, 2026, the following centrally cleared inflation-linked swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive Floating Rate** | **Floating Rate Index** | **Floating Rate Index Payment Frequency** | **Fixed Rate** | **Fixed Rate Payment Frequency** | **Maturity Date** | **Notional Amount** | **Notional Amount** | **Fair Value** | **Unrealized Appreciation/ (Depreciation)** |
| Pay | U.S. CPI Urban Consumers NSA (CPURNSA) | At Termination Date | 2.462% | At Termination Date | 03/27/31 | USD | 26814000 | $(75640) | $(75640) |
| Receive | U.S. CPI Urban Consumers NSA (CPURNSA) | At Termination Date | 2.410 | At Termination Date | 03/27/36 | USD | 26814000 | 28130 | 28130 |
|  |  |  |  |  |  |  |  | $(47510) | $(47510) |

---

At March 31, 2026, the following OTC total return swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive Total Return<sup>(1)</sup>** | **Reference Entity** | **Reference Entity Payment Frequency** | **(Pay)/ Receive Financing Rate** | **Floating Rate Payment Frequency** | **Counterparty** | **Termination Date** | **Notional Amount** | **Notional Amount** | **Fair Value** | **Upfront Payments Paid/ (Received)** | **Unrealized Appreciation/ (Depreciation)** |
| Receive | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Barclays Bank PLC | 06/20/26 | USD | 20000000 | $(452000) | $— | $(452000) |
| Receive | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Morgan Stanley Bank N.A. | 06/20/26 | USD | 6000000 | (132000) |  | (132000) |
| Receive | Markit iBoxx USD Liquid Leveraged Loan Index | Quarterly | (Secured Overnight Financing Rate + 0.00%) | Quarterly | Morgan Stanley Bank N.A. | 09/20/26 | USD | 20000000 | (134000) |  | (134000) |
|  |  |  |  |  |  |  |  |  | $(718000) | $— | $(718000) |

---

<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 March 31, 2026, the following OTC volatility swaps were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/ Receive Volatility<sup>(1)</sup>** | **Reference Entity** | **Volatility Strike Rate** | **Counterparty** | **Maturity Date** | **Notional Amount** | **Notional Amount** | **Fair Value** | **Unrealized Appreciation (Depreciation)** |
| Pay | USD vs. ZAR Spot Exchange Rate | 9.800% | Bank of America N.A. | 04/09/26 | USD | 130000 | $(729532) | $(729532) |
| Pay | USD vs. ZAR Spot Exchange Rate | 10.350% | Bank of America N.A. | 04/23/26 | USD | 65000 | (394073) | (394073) |
| Pay | USD vs. MXN Spot Exchange Rate | 12.000% | Bank of America N.A. | 06/16/26 | USD | 47171369 | 8358 | 8358 |
| Pay | USD vs. ZAR Spot Exchange Rate | 10.300% | BNP Paribas | 04/23/26 | USD | 32500 | (198657) | (198657) |
|  |  |  |  |  |  |  | $(1313904) | $(1313904) |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

At March 31, 2026, the following OTC written credit default swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Reference Entity** | **Exercise Rate** | **(Pay)/ Receive Fixed Rate** | **Payment Frequency** | **Expiration Date** | **Notional Amount** | **Notional Amount** | **Premiums Received** | **Fair Value** |
| Put on 5-Year Credit Default Swap | Deutsche Bank AG | iTraxx Europe, Series 5, Version 1 | 77.50% | 1.000% | Quarterly | 04/15/26 | EUR | 101695000 | $117575 | $(163969) |
| Put on 5-Year Credit Default Swap | Goldman Sachs International | CDX North American Index High Yield Series, 45, Version 2 | 104.00 | 5.000 | Quarterly | 04/15/26 | USD | 22530000 | 174556 | (102894) |
| Put on 5-Year Credit Default Swap | Goldman Sachs International | CDX North American Index High Yield Series, 45, Version 2 | 106.50 | 5.000 | Quarterly | 04/15/26 | USD | 28500000 | 183680 | (436968) |
|  |  |  |  |  |  |  |  |  | $475811 | $(703831) |

---

At March 31, 2026, the following OTC written equity options were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Put/Call** | **Expiration Date** | **Exercise Price** | **Exercise Price** | **Number of Contracts** | **Notional Amount** | **Notional Amount** | **Premiums Received** | **Fair Value** |
| Invesco Senior Loan ETF | Goldman Sachs International | Put | 04/17/26 | USD | 20.000 | 1740000 | USD | 35513400 | $208800 | $(150283) |
| Invesco Senior Loan ETF | Nomura Global Financial Products Inc. | Put | 04/17/26 | USD | 20.000 | 44000 | USD | 898040 | 7920 | (3800) |
|  |  |  |  |  |  |  |  |  | $216720 | $(154083) |

---

At March 31, 2026, the following OTC purchased foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Amount** | **Notional Amount** | **Cost** | **Fair Value** |
| Call BRL vs. Put USD | Goldman Sachs International | 07/03/26 | 5.674 | USD | 18010000 | $716168 | $1442471 |
| Call EUR vs. Put GBP | Goldman Sachs International | 08/06/26 | 0.925 | EUR | 813000 | 88044 | 60380 |
| Call JPY vs. Put AUD | Goldman Sachs International | 05/29/26 | 103.000 | AUD | 1997000 | 178231 | 149345 |
| Call KRW vs. Put USD | Morgan Stanley Bank N.A. | 04/24/26 | 1380.000 | USD | 22321000 | 112029 | 1588 |
| Call USD vs. Put BRL | Goldman Sachs International | 07/03/26 | 5.674 | USD | 18010000 | 716168 | 203842 |
| Call USD vs. Put EUR | Nomura Global Financial Products Inc. | 05/22/26 | 1.090 | USD | 1938000 | 131784 | 65875 |
| Call USD vs. Put EUR | Nomura Global Financial Products Inc. | 09/21/26 | 1.125 | USD | 22619000 | 203910 | 185311 |
| Call USD vs. Put KRW | Morgan Stanley Bank N.A. | 04/24/26 | 1500.000 | USD | 22321000 | 104127 | 369141 |
|  |  |  |  |  |  | $2250461 | $2477953 |

---

At March 31, 2026, the following OTC written foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Amount** | **Notional Amount** | **Premiums Received** | **Fair Value** |
| Call BRL vs. Put USD | Goldman Sachs International | 07/03/26 | 5.674 | USD | 18010000 | $769459 | $(1442471) |
| Call EUR vs. Put ZAR | Goldman Sachs International | 01/08/27 | 21.500 | EUR | 800000 | 240062 | (236459) |
| Call KRW vs. Put USD | Morgan Stanley Bank N.A. | 04/24/26 | 1340.000 | USD | 22321000 | 38415 | (316) |
| Call USD vs. Put BRL | Goldman Sachs International | 07/03/26 | 5.674 | USD | 18010000 | 769459 | (203843) |
| Call USD vs. Put KRW | Morgan Stanley Bank N.A. | 04/24/26 | 1475.000 | USD | 22321000 | 184171 | (602702) |
|  |  |  |  |  |  | $2001566 | $(2485791) |

---

At March 31, 2026, the following OTC purchased interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Notional** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**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** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** | <br>**Cost** | <br>**Fair Value** |
| Call on 5-Year Interest Rate Swap<sup>(1)</sup> | Morgan Stanley Bank N.A. | Receive | 2.500% | 6-month EUR-EURIBOR | 05/20/26 | EUR | &nbsp;&nbsp;44213000 | $246900 | $1025 |
|  |  |  |  |  |  |  |  | $246900 | $1025 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

At March 31, 2026, the following OTC written interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Pay/Receive Exercise Rate** | **Exercise Rate** | **Floating Rate Index** | **Expiration Date** | **Notional Amount** | **Notional Amount** | **Premiums Received** | **Fair Value** |
| Call on 10-Year Interest Rate Swap<sup>(2)</sup> | Morgan Stanley Bank N.A. | Pay | 2.300% | 6-month EUR-EURIBOR | 05/20/26 | EUR | 22107000 | $182061 | $(513) |
|  |  |  |  |  |  |  |  | $182061 | $(513) |

---

At March 31, 2026, the following OTC purchased forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise Rate<sup>(3)</sup>** | **Pay/ Receive Exercise Rate** | **Floating Rate Index** | **Expiration Date** | **Notional Amount** | **Notional Amount** | **Premium receivable/ (payable) at expiration<sup>(4)</sup>** | **Unrealized Appreciation/ (Depreciation)** |
| Call on 10-Year Interest Rate Swap | Deutsche Bank AG | 3.820% | Receive | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 11120000 | $(406297) | $(59225) |
| Call on 10-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.605% | Receive | 1-day Secured Overnight Financing Rate | 02/12/36 | USD | 48664000 | (1946560) | 110156 |
| Call on 1-Year Interest Rate Swap | Mizuho Capital Markets LLC | 3.150% | Receive | 1-day Secured Overnight Financing Rate | 04/10/26 | USD | 243320000 | (143559) | (142537) |
| Call on 5-Year Interest Rate Swap | UBS AG | 3.780% | Receive | 1-day Secured Overnight Financing Rate | 03/20/28 | USD | 24332000 | (608300) | (55731) |
| Put on 10-Year Interest Rate Swap | Deutsche Bank AG | 3.820% | Pay | 1-day Secured Overnight Financing Rate | 02/23/28 | USD | 11120000 | (406297) | 105971 |
| 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) | 723884 |
| 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) | (319481) |
| Put on 5-Year Interest Rate Swap | UBS AG | 3.780% | Pay | 1-day Secured Overnight Financing Rate | 03/20/28 | USD | 24332000 | (608300) | (20681) |
|  |  |  |  |  |  |  |  | $(14857716) | $342356 |

---

At March 31, 2026, the following OTC written forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise Rate<sup>(3)</sup>** | **Pay/Receive Exercise Rate** | **Floating Rate Index** | **Expiration Date** | **Notional Amount** | **Notional Amount** | **Premium receivable/ (payable) at expiration<sup>(4)</sup>** | **Unrealized Appreciation/ (Depreciation)** |
| Call on 10-Year Interest Rate Swap | Toronto-Dominion Bank | 3.943% | Pay | 1-day Secured Overnight Financing Rate | 07/21/26 | USD | 11358500 | $189687 | $(28350) |
| Call on 1-Year Interest Rate Swap | BNP Paribas | 2.500% | Pay | 1-day Secured Overnight Financing Rate | 02/22/27 | USD | 243320000 | 304150 | 64255 |
| Call on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.415% | Pay | 1-day Secured Overnight Financing Rate | 02/11/28 | USD | 60830000 | 261873 | (48282) |
| 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 | 111115 |
| 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 | 170834 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.523% | Pay | 1-day Secured Overnight Financing Rate | 02/03/28 | USD | 169492000 | 703392 | (244701) |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.343% | Pay | 1-day Secured Overnight Financing Rate | 12/16/27 | USD | 57675000 | 268189 | (2931) |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.161% | Pay | 1-day Secured Overnight Financing Rate | 11/22/27 | USD | 115350000 | 542145 | 91822 |
| Call on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.254% | Pay | 1-day Secured Overnight Financing Rate | 06/30/27 | USD | 57675000 | 220607 | (112014) |
| Call on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.123% | Pay | 1-day Secured Overnight Financing Rate | 10/25/27 | USD | 115350000 | 537819 | (242838) |
| Call on 1-Year Interest Rate Swap | Toronto-Dominion Bank | 3.697% | Pay | 1-day Secured Overnight Financing Rate | 02/05/29 | USD | 169492000 | 898308 | (265125) |
| Call on 30-Year Interest Rate Swap | BNP Paribas | 4.135% | Pay | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 6083000 | 687379 | 12636 |
| Call on 30-Year Interest Rate Swap | Deutsche Bank AG | 3.000% | Pay | 1-day Secured Overnight Financing Rate | 01/07/30 | USD | 22717000 | 522491 | (134661) |
| Call on 30-Year Interest Rate Swap | Goldman Sachs International | 4.130% | Pay | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 6083000 | 692245 | 19020 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise Rate<sup>(3)</sup>** | **Pay/Receive Exercise Rate** | **Floating Rate Index** | **Expiration Date** | **Notional Amount** | **Notional Amount** | **Premium receivable/ (payable) at expiration<sup>(4)</sup>** | **Unrealized Appreciation/ (Depreciation)** |
| Call on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 4.130% | Pay | 1-day Secured Overnight Financing Rate | 02/25/31 | USD | 6083000 | $689812 | $15935 |
| Call on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.000% | Pay | 1-day Secured Overnight Financing Rate | 01/07/30 | USD | 11359000 | 261257 | (67333) |
| Call on 30-Year Interest Rate Swap | Toronto-Dominion Bank | 4.252% | Pay | 1-day Secured Overnight Financing Rate | 01/29/27 | USD | 18600000 | 874200 | (266872) |
| Call on 30-Year Interest Rate Swap | UBS AG | 4.253% | Pay | 1-day Secured Overnight Financing Rate | 01/29/27 | USD | 18600000 | 863970 | (279579) |
| Put on 10-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 5.605% | Receive | 1-day Secured Overnight Financing Rate | 02/12/36 | USD | 48664000 | 2481864 | (119870) |
| Put on 10-Year Interest Rate Swap | Toronto-Dominion Bank | 3.943% | Receive | 1-day Secured Overnight Financing Rate | 07/21/26 | USD | 11358500 | 189687 | 39061 |
| Put on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.415% | Receive | 1-day Secured Overnight Financing Rate | 02/11/28 | USD | 60830000 | 261873 | (78175) |
| Put on 1-Year Interest Rate Swap | Deutsche Bank AG | 3.160% | Receive | 1-day Secured Overnight Financing Rate | 09/23/27 | USD | 115350000 | 538685 | (209162) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.523% | Receive | 1-day Secured Overnight Financing Rate | 02/03/28 | USD | 169492000 | 703392 | (156708) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.343% | Receive | 1-day Secured Overnight Financing Rate | 12/16/27 | USD | 57675000 | 268189 | (63835) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.161% | Receive | 1-day Secured Overnight Financing Rate | 11/22/27 | USD | 115350000 | 542145 | (222330) |
| 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 | (550894) |
| Put on 1-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.254% | Receive | 1-day Secured Overnight Financing Rate | 06/30/27 | USD | 57675000 | 220607 | 13943 |
| Put on 1-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 3.123% | Receive | 1-day Secured Overnight Financing Rate | 10/25/27 | USD | 115350000 | 537819 | 113212 |
| Put on 1-Year Interest Rate Swap | Toronto-Dominion Bank | 3.697% | Receive | 1-day Secured Overnight Financing Rate | 02/05/29 | USD | 169492000 | 898308 | (81676) |
| Put on 1-Year Interest Rate Swap | UBS AG | 3.700% | Receive | 1-day Secured Overnight Financing Rate | 02/10/27 | USD | 243320000 | 236020 | (535895) |
| Put on 30-Year Interest Rate Swap | BNP Paribas | 4.135% | Receive | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 6083000 | 687379 | (39841) |
| Put on 30-Year Interest Rate Swap | Deutsche Bank AG | 5.600% | Receive | 1-day Secured Overnight Financing Rate | 02/24/31 | USD | 14827000 | 619769 | (59057) |
| Put on 30-Year Interest Rate Swap | Goldman Sachs International | 4.130% | Receive | 1-day Secured Overnight Financing Rate | 02/18/31 | USD | 6083000 | 692245 | (37753) |
| Put on 30-Year Interest Rate Swap | Nomura Global Financial Products Inc. | 4.130% | Receive | 1-day Secured Overnight Financing Rate | 02/25/31 | USD | 6083000 | 689812 | (40859) |
| Put on 30-Year Interest Rate Swap | Toronto-Dominion Bank | 4.252% | Receive | 1-day Secured Overnight Financing Rate | 01/29/27 | USD | 18600000 | 874200 | 138536 |
| Put on 30-Year Interest Rate Swap | UBS AG | 4.253% | Receive | 1-day Secured Overnight Financing Rate | 01/29/27 | USD | 18600000 | 863970 | 130563 |
|  |  |  |  |  |  |  |  | $21810824 | $(2967809) |

---

<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 March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
|<br>**Principal Amount** | <br>**Description** | **Contractual**<br>**Settlement Date** |<br>**Fair Value** |
| $(8000000) | Ginnie Mae, 4.000%, due 04/20/56 | 04/21/26 | $(7495110) |
| (7704000) | Ginnie Mae, 4.500%, due 04/20/53 | 04/21/26 | (7443710) |
| (46700000) | Ginnie Mae, 6.500%, due 04/20/55 | 04/21/26 | (48539379) |
| (46700000) | Ginnie Mae, 6.500%, due 05/15/56 | 05/20/26 | (48398914) |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal Amount** |<br>**Description** | **Contractual**<br>**Settlement Date** |<br>**Fair Value** |
| $(6425000) | Uniform Mortgage-Backed Securities, 3.500%, due 04/01/56 | 04/13/26 | $(5890944) |
| (13027000) | Uniform Mortgage-Backed Securities, 5.000%, due 05/01/56 | 05/13/26 | (12832532) |
| (25000000) | Uniform Mortgage-Backed Securities, 6.500%, due 04/01/56 | 04/13/26 | (25866501) |
|  | Total Sales Commitments |  |  |
|  | Proceeds receivable $(156707854) |  | $(156467090) |

---

Currency Abbreviations:

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| EUR | EU Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |
| TRY | Turkish Lira |
| USD | United States Dollar |
| ZAR | South African Rand |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of March 31, 2026 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>** |  |  |
| Foreign exchange contracts | Investments in securities at value<sup>\*</sup> | $2477953 |
| Interest rate contracts | Investments in securities at value<sup>\*</sup> | 1025 |
| Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 733922 |
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 1860943 |
| Interest rate contracts | Variation margin receivable on futures contracts<sup>\*\*</sup> | 3651093 |
| Credit contracts | Variation margin receivable on centrally cleared swaps<sup>\*\*</sup> | 1666793 |
| Interest rate contracts | Variation margin receivable on centrally cleared swaps<sup>\*\*</sup> | 5139421 |
| Foreign exchange contracts | Unrealized appreciation on OTC swap agreements | 8358 |
| Interest rate contracts | Unrealized appreciation on OTC swap agreements | 160499 |
| **Total Asset Derivatives** |  | $15700007 |
| **<u>Liability Derivatives</u>** |  |  |
| Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $314825 |
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | 4486396 |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*\*</sup> | 7336008 |
| Credit contracts | Variation margin payable on centrally cleared swaps<sup>\*\*</sup> | 561714 |
| Interest rate contracts | Variation margin payable on centrally cleared swaps<sup>\*\*</sup> | 1994086 |
| Foreign exchange contracts | Unrealized depreciation on OTC swap agreements | 1322262 |
| Interest rate contracts | Unrealized depreciation on OTC swap agreements | 723606 |
| Credit contracts | Written options, at fair value | 703831 |
| Foreign exchange contracts | Written options, at fair value | 2485791 |
| Interest rate contracts | Written options, at fair value | 513 |
| Equity contracts | Written options, at fair value | 154083 |
| **Total Liability Derivatives** |  | $20083115 |

---

\* 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).

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

The effect of derivative instruments on the Fund's Statement of Operations for the year ended March 31, 2026 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging<br> instruments** | **Investments<sup>\*</sup>** | **Forward<br> foreign<br> currency<br> contracts** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $(218341) | $— | $— | $(3632384) | $4155712 | $304987 |
| Foreign exchange contracts | (88948) | (14001453) |  | (195551) | 1350103 | (12935849) |
| Interest rate contracts | 1325268 |  | (3552253) | 4039750 | 1109062 | 2921827 |
| **Total** | $1017979 | $(14001453) | $(3552253) | $211815 | $6614877 | $(9709035) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging<br> instruments** | **Investments<sup>\*</sup>** | **Forward<br> foreign<br> currency<br> contracts** | **Futures** | **Swaps** | **Written<br> options** | **Total** |
| Credit contracts | $— | $— | $— | $769472 | $(331703) | $437769 |
| Equity contracts |  |  |  |  | 62637 | 62637 |
| Foreign exchange contracts | 256046 | 588004 |  | (1720504) | (609517) | (1485971) |
| Interest rate contracts | (2967843) |  | (3723270) | 3322524 | (1668760) | (5037349) |
| **Total** | $(2711797) | $588004 | $(3723270) | $2371492 | $(2547343) | $(6022914) |

---

<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 March 31, 2026:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bank of<br> America N.A.** | **Barclays Bank<br> PLC** | **BNP Paribas** | **Citibank N.A.** | **Deutsche Bank<br> AG** | **Goldman<br> Sachs<br> International** | **JPMorgan<br> Chase Bank<br> N.A.** | **Mizuho Capital<br> Markets LLC** | **Morgan Stanley<br> Bank N.A.** | **Nomura Global<br> Financial<br> Products Inc.** |
| **Assets:** | | | | | | | | | | |
| Purchased options | $— | $— | $— | $— | $— | $1856038 | $— | $— | $371754 | $251186 |
| Forward foreign currency contracts |  |  | 1179 | 204651 |  | 54956 |  |  | 467682 |  |
| Forward premium swaptions |  | 723884 | 76891 |  | 387920 | 19020 | 105765 |  |  | 239303 |
| OTC interest rate swaps |  |  |  |  |  | 114668 |  |  | 45831 |  |
| OTC volatility swaps | 8358 |  |  |  |  |  |  |  |  |  |
| **Total Assets** | $8358 | $723884 | $78070 | $204651 | $387920 | $2044682 | $105765 | $— | $885267 | $490489 |
| **Liabilities:** |  |  |  |  |  |  |  |  |  |  |
| Forward foreign currency contracts | $— | $5 | $— | $76016 | $— | $67349 | $— | $— | $136086 | $— |
| Forward premium swaptions |  |  | 39841 |  | 588562 | 37753 | 1672894 | 142537 |  | 470900 |
| OTC interest rate swaps |  |  |  |  |  | 5606 |  |  |  |  |
| OTC total return swaps |  | 452000 |  |  |  |  |  |  | 266000 |  |
| OTC volatility swaps | 1123605 |  | 198657 |  |  |  |  |  |  |  |
| Written options |  |  |  |  | 163969 | 2572918 |  |  | 603531 | 3800 |
| **Total Liabilities** | $1123605 | $452005 | $238498 | $76016 | $752531 | $2683626 | $1672894 | $142537 | $1005617 | $474700 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(1115247) | $271879 | $(160428) | $128635 | $(364611) | $(638944) | $(1567129) | $(142537) | $(120350) | $15789 |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $1115247 | $(271879) | $160428 | $(128635) | $364611 | $— | $1567129 | $— | $120350 | $— |
| **Net Exposure<sup>(1),(2)</sup>** | $— | $— | $— | $— | $— | $(638944) | $— | $(142537) | $— | $15789 |

---

See Accompanying Notes to Financial Statements

Voya Strategic PORTFOLIO OF INVESTMENTS <br> Income Opportunities Fund as of March 31, 2026 (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |<br>**Standard**<br>**Chartered Bank** | **State Street**<br>**Bank and Trust**<br>**Co.** |<br>**Toronto-**<br>**Dominion Bank** |<br>**UBS AG** |<br>**Wells Fargo**<br>**Bank N.A.** |<br>**Total** |
| **Assets:** | | | | | | |
| Purchased options | $— | $— | $— | $— | $— | $2478978 |
| Forward foreign currency contracts |  | 5454 |  |  |  | 733922 |
| Forward premium swaptions |  |  | 177597 | 130563 |  | 1860943 |
| OTC interest rate swaps |  |  |  |  |  | 160499 |
| OTC volatility swaps |  |  |  |  |  | 8358 |
| **Total Assets** | $— | $5454 | $177597 | $130563 | $— | $5242700 |
| **Liabilities:** |  |  |  |  |  |  |
| Forward foreign currency contracts | $916 | $34071 | $— | $— | $382 | $314825 |
| Forward premium swaptions |  |  | 642023 | 891886 |  | 4486396 |
| OTC interest rate swaps |  |  |  |  |  | 5606 |
| OTC total return swaps |  |  |  |  |  | 718000 |
| OTC volatility swaps |  |  |  |  |  | 1322262 |
| Written options |  |  |  |  |  | 3344218 |
| **Total Liabilities** | $916 | $34071 | $642023 | $891886 | $382 | $10191307 |
| **Net OTC derivative instruments by counterparty, at fair value** | $(916) | $(28617) | $(464426) | $(761323) | $(382) | $(4948607) |
| **Total collateral pledged by the Fund/(Received from counterparty)** | $— | $— | $464426 | $761323 | $— | $4153000 |
| **Net Exposure<sup>(1),(2)</sup>** | $(916) | $(28617) | $— | $— | $(382) | $(795607) |

---

<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 March 31, 2026, the Fund had pledged $1,320,000, $260,000, $570,000, $2,270,000, $1,600,000, $380,000, $610,000 and $1,040,000 to Bank of America N.A., BNP Paribas, Deutsche Bank AG, JPMorgan Chase Bank N.A., Goldman Sachs International, Morgan Stanley Bank N.A., Toronto-Dominion Bank and UBS AG, respectively. In addition, the Fund had received $610,000 and $270,000 from Barclays Bank PLC and Citibank N.A., respectively. Excess cash collateral, if any, is not shown for financial reporting purposes.

At March 31, 2026, 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 $2,257,406,733.

Net unrealized depreciation consisted of:

---

| | |
|:---|:---|
| Gross Unrealized Appreciation | $37337763 |
| Gross Unrealized Depreciation | (76330202) |
| Net Unrealized Depreciation | $(38992439) |

---

See Accompanying Notes to Financial Statements

TAX INFORMATION (Unaudited)

Dividends and distributions paid during the year ended March 31, 2026, were as follows:

---

| | | |
|:---|:---|:---|
| <br>**Fund Name** | <br>**Type** | **Per Share**<br>**Amount** |
| Voya GNMA Income Fund |  |  |
| Class A | NII | $0.2808 |
| Class C | NII | $0.2234 |
| Class I | NII | $0.3039 |
| Class R6 | NII | $0.3077 |
| Class W | NII | $0.3007 |
| Voya High Yield Bond Fund |  |  |
| Class A | NII | $0.3882 |
| Class C | NII | $0.3354 |
| Class I | NII | $0.4115 |
| Class R | NII | $0.3708 |
| Class R6 | NII | $0.4168 |
| Class W | NII | $0.4063 |
| All Classes | ROC | $0.0132 |
| Voya Intermediate Bond Fund |  |  |
| Class A | NII | $0.3753 |
| Class C | NII | $0.3087 |
| Class I | NII | $0.4072 |
| Class R | NII | $0.3537 |
| Class R6 | NII | $0.4125 |
| Class W | NII | $0.3970 |

---

---

| | | |
|:---|:---|:---|
| <br>**Fund Name** | <br>**Type** | **Per Share**<br>**Amount** |
| Voya Short Duration Bond Fund |  |  |
| Class A | NII | $0.4098 |
| Class C | NII | $0.3394 |
| Class I | NII | $0.4348 |
| Class R | NII | $0.3876 |
| Class R6 | NII | $0.4398 |
| Class W | NII | $0.4346 |
| Voya Short Duration High Income Fund |  |  |
| Class A | NII | $0.6461 |
| Class C | NII | $0.5811 |
| Class I | NII | $0.6698 |
| Class R6 | NII | $0.6706 |
| Class W <sup>(1)</sup> | NII | $0.3996 |
| All Classes | STCG | $0.0053 |
| Voya Strategic Income Opportunities Fund |  |  |
| Class A | NII | $0.4192 |
| Class C | NII | $0.3437 |
| Class I | NII | $0.4422 |
| Class R | NII | $0.3926 |
| Class R6 | NII | $0.4474 |
| Class W | NII | $0.4417 |
| All Classes | ROC | $0.0129 |

---

NII - Net investment income

STCG - Short-term capital gain

ROC – Return of capital

<sup>(1)</sup> Commenced operations on August 8, 2025.

Pursuant to Internal Revenue Code Section 871(k)(1), the Funds designate the following percentages of net investment income distributions as interest-related dividends:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya GNMA Income Fund | 99.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya High Yield Bond Fund | 85.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Intermediate Bond Fund | 82.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Short Duration Bond Fund | 81.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Short Duration High Income Fund | 83.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya Strategic Income Opportunities Fund | 87.49% |

---

Above figures may differ from those cited elsewhere in this report due to differences in the calculation of income and gains under U.S. generally accepted accounting principles (book) purposes and Internal Revenue Service (tax) purposes.

Shareholders are strongly advised to consult their own tax advisers with respect to the tax consequences of their investments in the Funds. In January, shareholders, receive an IRS 1099-DIV regarding the federal tax status of the dividends and distributions they received in the calendar year.

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited)

**BOARD CONSIDERATION AND APPROVAL OF INVESTMENT MANAGEMENT CONTRACTS AND SUB-ADVISORY CONTRACTS**

At a meeting held on November 13, 2025, the Board of Trustees ("Board") of Voya Funds Trust (the "Trust"), including a majority of the Board members who have no direct or indirect interest in the investment management and sub-advisory contracts, and who are not "interested persons" of Voya GNMA Income Fund, Voya High Yield Bond Fund, Voya Intermediate Bond Fund, Voya Short Duration Bond Fund (formerly, Voya Short Term Bond Fund), Voya Short Duration High Income Fund, and Voya Strategic Income Opportunities Fund, each a series of the Trust (the "Funds"), as such term is defined under the Investment Company Act of 1940, as amended (the "Independent Trustees"), considered and approved the renewal of the investment management contracts (the "Management Contracts") between Voya Investments, LLC (the "Manager") and the Trust, on behalf of the Funds, and the sub-advisory contracts (the "Sub-Advisory Contracts," and together with the Management Contracts, the "Contracts") with Voya Investment Management Co. LLC, the sub-adviser to each Fund (the "Sub-Adviser"), for an additional one-year period ending November 30, 2026.

In addition to the Board meeting on November 13, 2025, the Independent Trustees also held meetings outside the presence of representatives of the Manager and Sub-Adviser (collectively, such persons are referred to herein as "management") on October 16, 2025 and November 11, 2025. At those meetings, the Board members reviewed and considered materials related to the proposed continuance of the Contracts that they had requested and believed to be relevant to the renewal of the Contracts in light of their own business judgment and the legal advice furnished to them by K&L Gates LLP, their independent legal counsel. The Board also considered information furnished to it throughout the year at meetings of the Board and its committees, including information regarding performance, expenses, and other relevant matters. While the Board considered the renewal of the management contracts and sub-advisory contracts for all of the applicable investment companies in the Voya family of funds at the same meetings, the Board considered each Voya fund's investment management and sub-advisory relationships separately.

The Board has established a Contracts Committee and two Investment Review Committees (the "IRCs"), each of which includes only Independent Trustees as members. The Contracts Committee meets several times throughout the year to provide oversight with respect to the management and sub-advisory contracts approval and renewal process for the Voya funds, among other functions, and each IRC meets several times throughout the year with respect to

each Voya fund (assigned to that IRC) to provide oversight regarding the investment performance of the sub-advisers, as well as the Manager's role in monitoring the sub-advisers.

The Contracts Committee oversees, and annually recommends Board approval of updates to, a methodology guide for the Voya funds ("Methodology Guide"), which sets out a framework pursuant to which the Independent Trustees request, and management provides, certain information that the Independent Trustees deem to be important or potentially relevant to the contracts renewal process for the Voya funds. The Independent Trustees retain the services of an independent consultant with experience in the mutual fund industry to assist the Contracts Committee in developing and recommending to the Board: (1) a selected peer group of investment companies for each Fund ("Selected Peer Group") based on that Fund's particular attributes; and (2) updates to the Methodology Guide with respect to the content and format of various data prepared in connection with the renewal process.

The Manager or Sub-Adviser may not have been able to, or opted not to, provide information in response to certain information requests, in which case the Board conducted its evaluation based on the information that was provided. In such cases, the omission of any such information was not deemed to be material to the Board's considerations.

Provided below is an overview of certain material factors that the Board considered at its meetings regarding the renewal of the Contracts and the compensation to be paid thereunder. The Board members did not identify any particular information or factor that was most relevant to its consideration.

**Nature, Extent and Quality of Services**

The Manager oversees, subject to the authority of the Board, and is responsible for the provision of, all investment advisory and portfolio management services for the Funds, but may delegate certain of these responsibilities to one or more sub-advisers. In addition, the Manager provides administrative services reasonably necessary for the operation of the Funds as set forth in the Management Contracts, including oversight of the Funds' operations and risk management and the oversight of their various other service providers.

The Board considered the "manager-of-managers" structure of the Voya funds that has been developed by the Manager pursuant to which the Manager selects, subject to the Board's approval, sub-advisers to provide day-to-day management services to all or a portion of each Voya fund. The Board recognized that the Manager is responsible

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

for monitoring the Sub-Adviser's investment program, performance, developments, ongoing operations, and compliance with applicable regulations and investment policies and restrictions with respect to the Funds under this manager-of-managers arrangement. The Board also considered the techniques and resources that the Manager has developed to provide this ongoing due diligence and oversight with respect to the sub-advisers and to recommend appropriate changes in investment strategies, sub-advisers, or allocation among sub-advisers in an effort to improve a Voya fund's performance. In connection with the Manager's performance of these duties, the Board considered that the Manager has developed an oversight process formulated by its Manager Research & Selection Group that reviews, among other matters, performance data, the Sub-Adviser's management team, portfolio data and attribution analysis related to the Sub-Adviser through various means, including, but not limited to, in-person meetings, on-site or virtual visits, and telephonic meetings with the Sub-Adviser.

Further, the Board considered periodic compliance reports it receives from the Trust's Chief Compliance Officer evaluating, among other related matters, whether the regulatory compliance systems and procedures of the Manager and Sub-Adviser are reasonably designed to ensure compliance with the federal securities laws and whether the investment policies and restrictions for each Fund are complied with on a consistent basis.

The Board considered the portfolio management team assigned by the Sub-Adviser to the Funds and the level of resources committed to the Funds (and other relevant funds in the Voya funds) by the Manager and the Sub-Adviser, and whether those resources are sufficient to provide high-quality services to the Funds.

Based on their deliberations and the materials presented to them, the Board concluded that the nature, extent and quality of the overall services provided by the Manager and Sub-Adviser under the Contracts were appropriate.

**Fund Performance**

In assessing the investment management and sub-advisory relationships, the Board placed emphasis on the investment returns of each Fund, including its investment performance over certain time periods compared to the Fund's Morningstar, Inc. ("Morningstar") category (Morningstar is an independent provider of mutual fund data) and primary benchmark, a broad-based securities market index. The Board also considered information from the Manager Research & Selection Group and received reports summarizing a separate analysis of each Fund's performance and risk, including risk-adjusted investment

return information, from the Trust's Chief Investment Risk Officer.

**Economies of Scale**

When evaluating the reasonableness of the management fee schedules, the Board considered whether economies of scale have been or likely will be realized by the Manager and the Sub-Adviser if and when a Fund grows larger and the extent to which any such economies are shared with the Fund. In this regard, the Board noted any breakpoints in the management fee schedules that will result in a lower management fee rate if and when a Fund achieves sufficient asset levels to receive a breakpoint discount. The Board also considered that, while some of the Funds do not have management fee breakpoints, they may have fee waiver and expense reimbursement arrangements. The Board considered the extent to which economies of scale realized by the Manager or the Sub-Adviser could be shared with each Fund through such fee waivers, expense reimbursements or other expense reductions. In the case of sub-advisory fees, the Board considered that breakpoints, if any, would inure to the benefit of the Manager.

**Information Regarding Services, Performance, and Fee Schedules Offered to Other Clients**

The Board considered comparative information regarding the nature of services, performance, and fee schedules offered by the Manager and Sub-Adviser to other clients with similar investment objectives, if applicable, including other registered investment companies and relevant institutional accounts. When the fee schedules offered to or the performance of such other clients differed materially from a Fund, the Board took into account the underlying rationale provided by the Manager or Sub-Adviser, as applicable, for these differences.

**Fee Schedules, Profitability, and Fall-out Benefits**

The Board reviewed and considered the contractual management fee schedule and net management fee rate payable by each Fund to the Manager compared to the Fund's Selected Peer Group. The Board also considered the compensation payable by the Manager to the Sub-Adviser for sub-advisory services for each Fund, including the portion of the contractual and net management fee rates that are paid to the Sub-Adviser, as compared to the compensation paid to the Manager. In addition, the Board considered any fee waivers, expense limitations, and recoupment arrangements that apply to the fees payable by the Funds, including whether the Manager proposed any changes thereto. For each Fund, the Board separately determined that the fees payable to the Manager and the fee schedule payable to the Sub-Adviser are reasonable

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

for the services that each performs, which were considered in light of the nature, extent and quality of the services that each has performed and is expected to perform.

For each Fund, the Board considered information on revenues, costs and profits or losses realized by the Manager and the Voya-affiliated Sub-Adviser related to their services to the Fund. In analyzing the profitability of the Manager and its affiliates in connection with services they render to a Fund, the Board took into account the sub-advisory fee rate payable by the Manager to the Sub-Adviser. The Board also considered the profitability of the Manager and its affiliated Sub-Adviser attributable to servicing each Fund both with and without taking into account the profitability of the distributor of the Funds and any revenue sharing payments made by, or other distribution-related expenses incurred by, the Manager.

Although the Methodology Guide establishes a framework for profit calculation by the Manager and its affiliated Sub-Adviser, the Board recognized that there is no uniform methodology within the asset management industry for determining profitability for this purpose. The Board also recognized that the use of different reasonable methodologies can give rise to dramatically different reported profit and loss results with respect to the Manager and the Voya-affiliated Sub-Adviser, as well as other industry participants with whom the profits of the Manager and its affiliated Sub-Adviser could be compared. In addition, the Board recognized that management's calculations regarding its costs incurred in establishing the infrastructure necessary for the Funds' operations may not be fully reflected in the expenses allocated to each Fund in determining profitability. The Board also recognized that the information presented may not portray all of the costs borne by the Manager or reflect all of the risks associated with offering and managing a mutual fund complex in the current regulatory and market environment, including entrepreneurial, regulatory, legal and operational risks.

The Board also considered that the Manager and the Voya-affiliated Sub-Adviser are entitled to earn a reasonable level of profits for the services that they provide to the Funds. The Board also considered information regarding the potential fall-out benefits to the Manager and Sub-Adviser and their respective affiliates from their association with the Funds. Following its reviews, the Board determined that the Manager's and the Voya-affiliated Sub-Adviser's profitability with respect to their services to the Funds and the Manager's and Sub-Adviser's potential fall-out benefits were not unreasonable.

**Fund-by-Fund Analysis**

Set forth below are certain of the specific factors that the

Board considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings in relation to approving each Fund's Contracts and the conclusions reached by the Board. These specific factors are in addition to those considerations discussed above. The performance data provided to the Board primarily was for various periods ended March 31, 2025. In addition, the Board also considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings certain additional data regarding each Fund's more recent performance, asset levels and asset flows. Each Fund's management fee rate and expense ratio were compared to the management fee rates and expense ratios of the funds in its Selected Peer Group. With respect to the quintile rankings noted below, the first quintile represents the range of funds with the highest performance or the lowest management fee rate or expense ratio, as applicable, and the fifth quintile represents the range of funds with the lowest performance or the highest management fee rate or expense ratio, as applicable.

**Voya GNMA Income Fund**

In considering whether to approve the renewal of the Contracts for Voya GNMA Income Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the first quintile of its Morningstar category for the one-year, three-year, five-year, and ten-year periods and the second quintile for the year-to-date period; and (2) the Fund outperformed its performance benchmark for all periods presented, with the exception of the year-to-date period, during which it underperformed.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the fourth quintile; (b) the Fund's contractual management fee rate is ranked in the third quintile; and (c) the Fund's net expense ratio is ranked in the third quintile.

**Voya High Yield Bond Fund**

In considering whether to approve the renewal of the Contracts for Voya High Yield Bond Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the third quintile of its Morningstar category for the year-to-date, one-year, and ten-year periods, the fourth quintile for the five-year period, and the fifth quintile for the three-year period; and (2) the Fund underperformed its performance benchmark for all periods presented.

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

In analyzing this performance data, the Board took into account management's representations regarding the competitiveness of the Fund's performance during certain periods.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the third quintile; (b) the Fund's contractual management fee rate is ranked in the third quintile; and (c) the Fund's net expense ratio is ranked in the second quintile.

**Voya Intermediate Bond Fund**

In considering whether to approve the renewal of the Contracts for Voya Intermediate Bond Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the second quintile of its Morningstar category for the one-year, three-year, and ten-year periods and the third quintile for the year-to-date and five-year periods; and (2) the Fund outperformed its performance benchmark for all periods presented, with the exception of the year-to-date period, during which it underperformed.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered: The pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the first quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the first quintile.

**Voya Short Duration Bond Fund (formerly, Voya Short Term Bond Fund)**

In considering whether to approve the renewal of the Contracts for Voya Short Duration Bond Fund (formerly, Voya Short Term Bond Fund), the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the third quintile of its Morningstar category for the one-year, five-year and ten-year periods and the fourth quintile for the year-to-date and three-year periods; and (2) the Fund outperformed its performance benchmark for all periods presented, with the exception of the year-to-date period, during which it underperformed.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described

above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the second quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the first quintile.

**Voya Short Duration High Income Fund**

In considering whether to approve the renewal of the Contracts for Voya Short Duration High Income Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the fourth quintile of its Morningstar category for the one-year period and the fifth quintile for the year-to-date period; and (2) the Fund outperformed its performance benchmark for the one-year period and underperformed for the year-to-date period.

In analyzing this performance data, the Board took into account that the Fund commenced operations in February 2023, and therefore had a limited operating history for the purpose of analyzing its performance.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the second quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the second quintile.

**Voya Strategic Income Opportunities Fund**

In considering whether to approve the renewal of the Contracts for Voya Strategic Income Opportunities Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the second quintile of its Morningstar category for the year-to-date, one-year, five-year and ten-year periods and the third quintile for the three-year period; and (2) the Fund outperformed its performance benchmark for all periods presented, with the exception of the three-year period, during which it underperformed.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the first quintile; (b) the Fund's contractual management

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the second quintile.

**Board Conclusions**

After its deliberation, the Board concluded that, in its business judgment, the terms of the Contracts are fair and reasonable to each Fund and that approval of the continuation of the Contracts is in the best interests of each Fund and its shareholders. In doing so, the Board reviewed all factors it considered to be material, including those discussed above. Within the context of its overall conclusions regarding the Contracts, and based on the information provided and management's related representations, the Board concluded that it was satisfied with management's responses relating to each Fund's investment performance and the fees payable under the Contracts. During this renewal process, each Board member may have accorded different weight to various factors in reaching his or her conclusions. Based on these conclusions and other factors, the Board voted to renew the Contracts for each Fund for the year ending November 30, 2026.

[This Page Intentionally Left Blank]

[This Page Intentionally Left Blank]

---

| | |
|:---|:---|
| **Investment Adviser** | **Independent Registered Public Accounting Firm** |

---

Voya Investments, LLC Ernst & Young LLP

7337 East Doubletree Ranch Road, Suite 100 200 Clarendon Street

Scottsdale, Arizona 85258 Boston, Massachusetts 02116

---

| | |
|:---|:---|
| **Distributor** | **Custodian** |

---

Voya Investments Distributor, 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

---

| | |
|:---|:---|
| **Transfer Agent** | **Legal Counsel** |

---

BNY Mellon Investment Servicing (U.S.) Inc. Ropes & Gray LLP

103 Bellevue Parkway Prudential Tower

Wilmington, Delaware 19809 800 Boylston Street

Boston, Massachusetts 02199

**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 (0326)**

![](tm269275d1_govmoimg001.jpg)

Annual Financial Statements and Other Information

**March 31, 2026**

**Voya Government Money Market Fund**

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

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.

---

| | |
|:---|:---|
| ![](tm269275d1_govmoimg002.jpg) | E-Delivery Sign-up – details inside |

---

---

| | |
|:---|:---|
| **INVESTMENT MANAGEMENT** <br>**voyainvestments.com** | ![](tm269275d1_govmoimg003.jpg) |

---

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#VGMMF1) | [1](#VGMMF1) |
| [Statement of Assets and Liabilities](#VGMMF2) | [2](#VGMMF2) |
| [Statement of Operations](#VGMMF4) | [4](#VGMMF4) |
| [Statements of Changes in Net Assets](#VGMMF5) | [5](#VGMMF5) |
| [Financial Highlights](#VGMMF6) | [6](#VGMMF6) |
| [Notes to Financial Statements](#VGMMF7) | [8](#VGMMF7) |
| [Portfolio of Investments](#VGMMF8) | [15](#VGMMF8) |
| [Tax Information](#VGMMF9) | [18](#VGMMF9) |
| [Advisory and Sub-Advisory Contract Approval Discussion](#VGMMF10) | [19](#VGMMF10) |

---

---

| |
|:---|
| &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.com/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.**

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Trustees of Voya Government Money Market Fund

**Opinion on the Financial Statements**

We have audited the accompanying statement of assets and liabilities of Voya Government Money Market Fund (the "Fund") (one of the funds constituting Voya Funds Trust (the "Trust")), including the portfolio of investments, as of March 31, 2026, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the funds constituting Voya Funds Trust) at March 31, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion**

These financial statements are the responsibility of the Trust's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](tm269275d1_govmoimg004.jpg)

We have served as the auditor of one or more Voya investment companies since 2019.

Boston, Massachusetts

May 27, 2026

STATEMENT OF ASSETS AND LIABILITIES as of March 31, 2026

---

| | |
|:---|:---|
| **ASSETS:** |  |
| Short-term investments at amortized cost | $314228353 |
| Repurchase agreements | 107252000 |
| Receivables: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 289640254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund shares sold | 21432344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 664154 |
| Prepaid expenses | 55857 |
| Reimbursement due from Investment Adviser | 94574 |
| Other assets | 25374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 733392910 |
| **LIABILITIES:** |  |
| Income distribution payable | 1221 |
| Payable for investment securities purchased | 124729060 |
| Payable for fund shares redeemed | 9337294 |
| Payable for investment management fees | 122797 |
| Payable for distribution and shareholder service fees | 1614 |
| Payable to custodian due to bank overdraft | 125124222 |
| Payable to trustees under the deferred compensation plan (Note 5) | 25374 |
| Payable for trustee fees | 1088 |
| Other accrued expenses and liabilities | 184729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 259527399 |
| **NET ASSETS** | $473865511 |
| **NET ASSETS WERE COMPRISED OF:** |  |
| Paid-in capital | $473868088 |
| Total distributable loss | (2577) |
| **NET ASSETS** | $473865511 |

---

See Accompanying Notes to Financial Statements

STATEMENT OF ASSETS AND LIABILITIES as of March 31, 2026 (continued)

---

| | |
|:---|:---|
| **Class A** |  |
| Net assets | $399778554 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 399775977 |
| Net asset value and redemption price per share† | $1.00 |
| **Class C** |  |
| Net assets | $1918011 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 1917925 |
| Net asset value and redemption price per share† | $1.00 |
| **Class I** |  |
| Net assets | $60709777 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 60709199 |
| Net asset value and redemption price per share | $1.00 |
| **Class R6** |  |
| Net assets | $7493015 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 7492956 |
| Net asset value and redemption price per share | $1.00 |
| **Class W** |  |
| Net assets | $3966154 |
| Shares authorized | unlimited |
| Par value | $0.001 |
| Shares outstanding | 3965841 |
| 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 year ended March 31, 2026

---

| | |
|:---|:---|
| **INVESTMENT INCOME:** |  |
| Dividends | $83576 |
| Interest | 17807982 |
| Other | 2592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 17894150 |
| **EXPENSES:** |  |
| Investment management fees | 1523742 |
| Distribution and shareholder service fees: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 21751 |
| Transfer agent fees: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | 414372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | 2450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | 6680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | 5979 |
| Shareholder reporting expense | 42907 |
| Registration fees | 124628 |
| Professional fees | 50634 |
| Custody and accounting expense | 28129 |
| Trustee fees | 10883 |
| Miscellaneous expense | 45448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 2277823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (710583) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 1567240 |
| Net investment income | 16326910 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |
| Net realized gain on investments | 236239 |
| **Increase in net assets resulting from operations** | $16563149 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**March 31, 2026** | **Year Ended**<br>**March 31, 2025** |
| **FROM OPERATIONS:** |  |  |
| Net investment income | $16326910 | $17550882 |
| Net realized gain | 236239 | 244053 |
| Increase in net assets resulting from operations | 16563149 | 17794935 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| Total distributions (excluding return of capital): |  |  |
| &nbsp;&nbsp;Class A | (13573646) | (14330320) |
| &nbsp;&nbsp;Class C | (61890) | (81158) |
| &nbsp;&nbsp;Class I | (2466402) | (2916036) |
| &nbsp;&nbsp;Class R6<sup>(1)</sup> | (256217) | (98703) |
| &nbsp;&nbsp;Class W | (206609) | (355462) |
| Total distributions | (16564764) | (17781679) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |
| Net proceeds from sale of shares | 1946074210 | 1636193747 |
| Reinvestment of distributions | 16530786 | 17705527 |
|  | 1962604996 | 1653899274 |
| Cost of shares redeemed | (1913120965) | (1567924744) |
| Net increase in net assets resulting from capital share transactions | 49484031 | 85974530 |
| Net increase in net assets | 49482416 | 85987786 |
| **NET ASSETS:** |  |  |
| Beginning of year or period | 424383095 | 338395309 |
| End of year or period | $473865511 | $424383095 |

---

(1) Class R6 shares of the fund commenced operations on June 11, 2024.

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** | **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<br> (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<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<sup>(2)(3)</sup> | Expenses <br> net of all<br> reductions<br> /additions<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 |  |  | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 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** |
| 03-31-26 | 1.00 | 0.04 | <sup>•</sup> |  | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.88** | 0.54 | 0.35<sup>(4)</sup> | 0.35 | 3.75 |  | 399779 |  |
| 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 |  |
| **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** | **Class C** |
| 03-31-26 | 1.00 | 0.03 | <sup>•</sup> |  | 0.03 | 0.03 | 0.00 \* |  | 0.03 |  | 1.00 | **2.85** | 1.54 | 1.35<sup>(4)</sup> | 1.35 | 2.79 |  | 1918 |  |
| 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 |  |
| **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** | **Class I** |
| 03-31-26 | 1.00 | 0.04 | <sup>•</sup> |  | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.88** | 0.43 | 0.35<sup>(4)</sup> | 0.35 | 3.78 |  | 60710 |  |
| 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 |  |
| **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** | **Class R6** |
| 03-31-26 | 1.00 | 0.04 | <sup>•</sup> |  | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.88** | 0.42 | 0.35<sup>(4)</sup> | 0.35 | 3.73 |  | 7493 |  |
| 06-11-24<sup>(8)</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** | **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** |
| 03-31-26 | 1.00 | 0.04 | <sup>•</sup> |  | 0.04 | 0.04 | 0.00 \* |  | 0.04 |  | 1.00 | **3.88** | 0.54 | 0.35<sup>(4)</sup> | 0.35 | 3.80 |  | 3966 |  |
| 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 |  |

---

<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.

<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.

See Accompanying Notes to Financial Statements

FINANCIAL HIGHLIGHTS (continued)

<sup>(8)</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)%.

See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026

**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, which approximates fair value, 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 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.

&nbsp;&nbsp;&nbsp;&nbsp;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 March 31, 2026.

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 March 31, 2026 (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 year ended March 31, 2026, 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 March 31, 2026, 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 year ended March 31, 2026, the Distributor retained the following amounts in sales charges:

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 4 — DISTRIBUTION AND SERVICE FEES (continued)**

---

| | |
|:---|:---|
|  | **Class C** |
| Initial Sales Charges: | $— |
| Contingent Deferred Sales Charges: | $647 |

---

**NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES**

At March 31, 2026, 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 | 23.86% |
| Voya Investments Distributor, LLC | 7.38 |
| Voya Retirement Insurance and Annuity Company | 28.21 |

---

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 year ended March 31, 2026, the per account fees for affiliated recordkeeping services paid by the Fund were $289,251.

**NOTE 6 — EXPENSE LIMITATION AGREEMENT**

Pursuant to a 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, until August 1, 2026, 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 March 31, 2026, 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:

---

| | | | |
|:---|:---|:---|:---|
| **March 31,** | **March 31,** | **March 31,** | |
| **2027** | **2028** | **2029** |<br>**Total** |
| $62718 | $218327 | $286417 | $567462 |

---

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 March 31, 2026 are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31,** | **March 31,** | **March 31,** | |
|  | **2027** | **2028** | **2029** |<br>**Total** |
| Class A | $409470 | $326892 | $409716 | $1146078 |
| Class C | 3694 | 2408 | 2420 | 8522 |
| Class I | 43086 | 39697 | 5946 | 88729 |
| Class R6 |  | 72 | 220 | 292 |
| Class W | 14528 | 8498 | 5864 | 28890 |

---

The Expense Limitation Agreement is contractual through August 1, 2026. 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 March 31, 2026 (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.

**NOTE 8 — CAPITAL SHARES**

Transactions in capital shares and dollars were as follows:

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. During the year ended March 31, 2026, the Fund did not utilize the line of credit.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| |<br><br>**Shares**<br>**sold** |<br>**Shares**<br>**issued in**<br>**merger** |<br>**Reinvestment**<br>**of**<br>**distributions** |<br><br>**Shares**<br>**redeemed** |<br><br>**Shares**<br>**converted** |<br>**Net increase**<br>**(decrease) in**<br>**shares**<br>**outstanding** |<br><br>**Shares**<br>**sold** | **Proceeds**<br>**from**<br>**shares**<br>**issued in**<br>**merger** |<br>**Reinvestment**<br>**of**<br>**distributions** |<br><br>**Shares**<br>**redeemed** |<br><br>**Shares**<br>**converted** |<br><br>**Net increase**<br>**(decrease)** |
| <br>**Year or**<br>**period ended** |<br>**#** |<br>**#** |<br>**#** |<br>**#** |<br>**#** |<br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **Class A** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 1904509751 |  | 13543246 | (1864954680) |  | 53098317 | 1904509751 |  | 13543246 | (1864954680) |  | 53098317 |
| 3/31/2025 | 1605921702 |  | 14260508 | (1539356512) |  | 80825698 | 1605921702 |  | 14260508 | (1539356512) |  | 80825698 |
| **Class C** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 590227 |  | 61582 | (936060) |  | (284251) | 590227 |  | 61582 | (936060) |  | (284251) |
| 3/31/2025 | 524391 |  | 80661 | (518499) |  | 86553 | 524391 |  | 80661 | (518499) |  | 86553 |
| **Class I** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 34526629 |  | 2463252 | (41816796) |  | (4826915) | 34526629 |  | 2463252 | (41816796) |  | (4826915) |
| 3/31/2025 | 21532320 |  | 2910192 | (17874537) |  | 6567975 | 21532320 |  | 2910192 | (17874537) |  | 6567975 |
| **Class R6** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 6446797 |  | 256217 | (2663732) |  | 4039282 | 6446797 |  | 256217 | (2663732) |  | 4039282 |
| 6/11/2024<sup>(1)</sup>- |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2025 | 5565162 |  | 98705 | (2210194) |  | 3453673 | 5565162 |  | 98705 | (2210194) |  | 3453673 |
| **Class W** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 806 |  | 206489 | (2749697) |  | (2542402) | 806 |  | 206489 | (2749697) |  | (2542402) |
| 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. Key differences include the treatment of wash sale deferrals.

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, 2026** | **Year Ended**<br>**March 31, 2025** |
| **Ordinary**<br>**Income** | **Ordinary**<br>**Income** |
| $16564764 | $17781679 |

---

The tax-basis components of distributable earnings as of March 31, 2026, were:

---

| | | | |
|:---|:---|:---|:---|
| **Undistributed**<br>**Ordinary**<br>**Income** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |<br>**Other** | **Total**<br>**Distributable**<br>**Earnings/(Loss)** |
| $11920 | $(13276) | $(1221) | $(2577) |

---

At March 31, 2026, 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.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (Continued)

**NOTE 9 — FEDERAL INCOME TAXES (continued)**

As of March 31, 2026, 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. Military action by Russia in Ukraine, the prolonged conflict between Hamas and Israel, the Iranian conflict that commenced in February 2026, and political upheaval in Venezuela have resulted, and may continue to result, in sanctions, market disruptions, declines in regional and global stock markets, unusual volatility in global commodity markets, and disruptions to energy production or transportation, including through key shipping routes, any of which could adversely affect the value of the Fund's investments, including beyond the Fund's direct exposure to issuers in the affected regions. The escalation or expansion of hostilities including the involvement of additional nations, could introduce further uncertainty and volatility in global energy, commodity, and financial markets. The extent and duration of these conflicts, related sanctions, and resulting market disruptions are impossible to predict but 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. Recent technological developments in, and the increasingly widespread use of, artificial intelligence, including machine learning technology and generative artificial intelligence ("AI"), may pose risks to the Fund. For instance, the economy may be significantly impacted by the advanced development and increased regulation of AI. As AI is used more widely, the profitability and growth of Fund holdings may be impacted, which could significantly impact the overall performance of the Fund. The legal and regulatory frameworks within which AI operates continue to rapidly evolve, and it is not possible to predict the full extent of current or future risks related thereto.

**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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (Continued)

**NOTE 11 — SEGMENT REPORTING (continued)**

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 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 — OTHER ACCOUNTING PRONOUNCEMENT**

The Fund has adopted the provisions of Financial Accounting Standards Board Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 enhances income tax disclosures, including providing specific categories in rate reconciliation and income taxes paid. Upon evaluation, the adoption of the new accounting standard does not materially impact the financial statement amounts or disclosures.

**NOTE 13 — SUBSEQUENT EVENTS**

*Dividends.* Subsequent to March 31, 2026, the Fund declared dividends and distributions of:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Type** | **Per Share**<br>**Amount** | <br>**Payable Date** | <br>**Record Date** |
| Class A | NII | $0.0027 | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | Daily |
| Class C | NII | $0.0019 | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | Daily |
| Class I | NII | $0.0027 | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | Daily |
| Class R6 | NII | $0.0027 | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | Daily |
| Class W | NII | $0.0027 | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | Daily |
| All Classes | STCG | $0.0000\* | &nbsp;&nbsp;&nbsp;&nbsp;April 30, 2026 | April 29, 2026 |

---

NII – Net investment income

STCG – Short-term capital gain

\* Amount rounds to $0.0000.

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.

<u>Voya Government Money Market Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>As of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY DEBT: 36.6%** | **U.S. GOVERNMENT AGENCY DEBT: 36.6%** |  |  |
| 10000000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp., 3.670%, (SOFRRATE + 0.040%), 04/10/2026 | $9999950 | 2.1 |
| 8000000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp., 3.780%, (SOFRRATE + 0.150%), 11/13/2026 | 8000913 | 1.7 |
| 2000000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp., 3.795%, (FEDL01 + 0.155%), 09/16/2026 | 2000583 | 0.4 |
| 4750000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp. 0001, 3.705%, (FEDL01 + 0.065%), 07/15/2026 | 4749957 | 1 |
| 28000000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp. 0002, 3.710%, (FCPR DLY + (3.040)%), 10/16/2026 | 28000000 | 5.9 |
| 1000000 <sup>(1)</sup> | Federal Farm Credit Banks Funding Corp. 0002, 3.790%, (FEDL01 + 0.150%), 04/24/2026 | 1000052 | 0.2 |
| 19000000 <sup>(2)</sup> | Federal Farm Credit Discount Notes, 3.440%, 04/14/2026 | 18974957 | 4 |
| 2700000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.080%, 04/06/2026 | 2698634 | 0.6 |
| 3200000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.240%, 04/08/2026 | 3197729 | 0.7 |
| 1600000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.330%, 04/10/2026 | 1598540 | 0.3 |
| 1800000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.540%, 04/22/2026 | 1796167 | 0.4 |
| 1000000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.550%, 04/24/2026 | 997668 | 0.2 |
| 1000000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.580%, 04/29/2026 | 997161 | 0.2 |
| 3775000 <sup>(2)</sup> | Federal Home Loan Bank Discount Notes, 3.590%, 04/30/2026 | 3763900 | 0.8 |
| 19000000 <sup>(1)</sup> | Federal Home Loan Banks, 3.670%, (SOFRRATE + 0.040%), 06/15/2026 | 19001436 | 4 |
| 1000000 <sup>(1)</sup> | Federal Home Loan Banks, 3.690%, (SOFRRATE + 0.060%), 08/11/2026 | 1000000 | 0.2 |
| 8500000 <sup>(1)</sup> | Federal Home Loan Banks, 3.695%, (SOFRRATE + 0.065%), 08/10/2026 | 8500000 | 1.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. GOVERNMENT AGENCY DEBT: (continued)** | **U.S. GOVERNMENT AGENCY DEBT: (continued)** |  |  |
| 3500000 <sup>(1)</sup> | Federal Home Loan Banks, 3.730%, (SOFRRATE + 0.100%), 04/06/2026 | $3500043 | 0.7 |
| 2000000 <sup>(1)</sup> | Federal Home Loan Banks, 3.740%, (SOFRRATE + 0.110%), 04/10/2026 | 2000024 | 0.4 |
| 1333333 <sup>(1)</sup> | Federal Home Loan Banks, 3.770%, (SOFRRATE + 0.140%), 07/22/2026 | 1333334 | 0.3 |
| 17000000 <sup>(1)</sup> | Federal Home Loan Banks 0001, 3.630%, (SOFRRATE + 0.000%), 05/18/2026 | 17000000 | 3.6 |
| 10000000 <sup>(1)</sup> | Federal Home Loan Banks 0002, 3.630%, (SOFRRATE + 0.000%), 06/10/2026 | 10000000 | 2.1 |
| 9000000 <sup>(1)</sup> | Federal Home Loan Banks 0002, 3.635%, (SOFRRATE + 0.005%), 06/23/2026 | 9000000 | 1.9 |
| 4250000 <sup>(1)</sup> | Federal Home Loan Banks 0004, 3.630%, (SOFRRATE + 0.000%), 05/22/2026 | 4250000 | 0.9 |
| 8500000 <sup>(1)</sup> | Federal Home Loan Banks 000A, 3.630%, (SOFRRATE + 0.000%), 07/02/2026 | 8500000 | 1.8 |
| 1667000 <sup>(2)</sup> | Freddie Mac Discount Notes RB, 3.550%, 04/23/2026 | 1663282 | 0.4 |
|  |  | **173524330** | **36.6** |
|  | Total U.S. Government Agency Debt |  |  |
|  | (Cost $173,524,330) | **173524330** | **36.6** |
| **U.S. TREASURY DEBT: 29.7%** | **U.S. TREASURY DEBT: 29.7%** |  |  |
| 55775000 <sup>(2)</sup> | United States Treasury Bill, 3.170%, 04/07/2026 | 55741165 | 11.7 |
| 17000000 <sup>(2)</sup> | United States Treasury Bill, 3.260%, 04/09/2026 | 16986362 | 3.6 |
| 17500000 <sup>(2)</sup> | United States Treasury Bill, 3.350%, 04/14/2026 | 17477060 | 3.7 |
| 18000000 <sup>(2)</sup> | United States Treasury Bill, 3.600%, 02/18/2027 | 17441890 | 3.7 |
| 34250000 <sup>(2)</sup> | United States Treasury Bill, 3.740%, 03/18/2027 | 33057546 | 7.0 |
|  |  | **140704023** | **29.7** |
|  | Total U.S. Treasury Debt |  |  |
|  | (Cost $140,704,023) | **140704023** | **29.7** |

---

See Accompanying Notes to Financial Statements

<u>Voya Government Money Market Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>As of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **U.S. TREASURY REPURCHASE AGREEMENTS: 22.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 22.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS: 22.6%** |  |
| 107252000 | Deutsche Bank, Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 $107,262,904 to be received upon repurchase (Collateralized by $136,121,600, various U.S. Treasuries, 0.000%-4.375%, Market Value plus accrued interest $110,391,713 due 5/15/2030-8/15/2043) | $107252000 | 22.6 |
|  | Total U.S. Treasury Repurchase Agreements (Cost $107,252,000) | 107252000 | 22.6 |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $421,480,353)** | $**421480353** | **88.9** |
|  | **Assets in Excess of Other Liabilities** | **52385158** | **11.1** |
|  | **Net Assets** | $**473865511** | **100.0** |

---

---

| | |
|:---|:---|
| † | Unless otherwise indicated, principal amount is shown in USD. |
| <sup>(1)</sup> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <sup>(2)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of March 31, 2026. |

---

Reference Rate Abbreviations:

FEDL01 Federal Funds Effective Rate <br> SOFRRATE 1-day Secured Overnight Financing Rate

See Accompanying Notes to Financial Statements

<u>Voya Government Money Market Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>As of March 31, 2026 (continued)</u>

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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>**March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| U.S. Government Agency Debt | $— | $173524330 | $— | $173524330 |
| U.S. Treasury Debt |  | 140704023 |  | 140704023 |
| U.S. Treasury Repurchase Agreements |  | 107252000 |  | 107252000 |
| Total Investments, at fair value | $— | $421480353 | $— | $421480353 |

---

^ 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 March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| <br>**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>** |<br><br>**Net Amount** |
| Deutsche Bank | $107252000 | $(107252000) | $— |
| Totals |  |  |  |
|  | $107252000 | $(107252000) | $— |

---

(1) Collateral
with a fair value of $110,391,713 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 March 31, 2026, 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 $421,493,629. |  |
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $— |
| Gross Unrealized Depreciation | (13276) |
| Net Unrealized Depreciation | $(13276) |

---

See Accompanying Notes to Financial Statements

TAX INFORMATION (Unaudited)

Dividends and distributions paid during the year ended March 31, 2026, were as follows:

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Type** | **Per Share Amount** |
| Voya Government Money Market Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class A | NII | $0.0376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C | NII | $0.0276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class I | NII | $0.0376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R6 | NII | $0.0376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class W | NII | $0.0376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Classes | STCG | $0.0006 |

---

NII — Net investment income

STCG - Short-term capital gain

Pursuant to Internal Revenue Code Section 871(k)(1), Voya Government Money Market Fund designates 100.00% of net investment income distributions as interest-related dividends.

Above figures may differ from those cited elsewhere in this report due to differences in the calculation of income and gains under U.S. generally accepted accounting principles (book) purposes and Internal Revenue Service (tax) purposes.

Shareholders are strongly advised to consult their own tax advisers with respect to the tax consequences of their investments in the Fund. In January, shareholders, excluding corporate shareholders, receive an IRS 1099-DIV regarding the federal tax status of the dividends and distributions they received in the calendar year.

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited)

**BOARD CONSIDERATION AND APPROVAL OF INVESTMENT MANAGEMENT CONTRACT AND SUB-ADVISORY CONTRACT**

At a meeting held on November 13, 2025, the Board of Trustees ("Board") of Voya Funds Trust (the "Trust"), including a majority of the Board members who have no direct or indirect interest in the investment management and sub-advisory contracts, and who are not "interested persons" of Voya Government Money Market Fund, a series of the Trust (the "Fund"), as such term is defined under the Investment Company Act of 1940, as amended (the "Independent Trustees"), considered and approved the renewal of the investment management contract (the "Management Contract") between Voya Investments, LLC (the "Manager") and the Trust, on behalf of the Fund, and the sub-advisory contract (the "Sub-Advisory Contract," and together with the Management Contract, the "Contracts") with Voya Investment Management Co. LLC, the sub-adviser to the Fund (the "Sub-Adviser"), for an additional one-year period ending November 30, 2026.

In addition to the Board meeting on November 13, 2025, the Independent Trustees also held meetings outside the presence of representatives of the Manager and Sub-Adviser (collectively, such persons are referred to herein as "management") on October 16, 2025 and November 11, 2025. At those meetings, the Board members reviewed and considered materials related to the proposed continuance of the Contracts that they had requested and believed to be relevant to the renewal of the Contracts in light of their own business judgment and the legal advice furnished to them by K&L Gates LLP, their independent legal counsel. The Board also considered information furnished to it throughout the year at meetings of the Board and its committees, including information regarding performance, expenses, and other relevant matters. While the Board considered the renewal of the management contracts and sub-advisory contracts for all of the applicable investment companies in the Voya family of funds at the same meetings, the Board considered each Voya fund's investment management and sub-advisory relationships separately.

The Board has established a Contracts Committee and two Investment Review Committees (the "IRCs"), each of which includes only Independent Trustees as members. The Contracts Committee meets several times throughout the year to provide oversight with respect to the management and sub-advisory contracts approval and renewal process for the Voya funds, among other functions, and each IRC meets several times throughout the year with respect to each Voya fund (assigned to that IRC) to provide oversight regarding the investment performance of the sub-advisers, as well as the Manager's role in monitoring the sub-advisers.

The Contracts Committee oversees, and annually recommends Board approval of updates to, a methodology guide for the Voya funds ("Methodology Guide"), which sets out a framework pursuant to which the Independent Trustees request, and management provides, certain information that the Independent Trustees deem to be important or potentially relevant to the contracts renewal process for the Voya funds. The Independent Trustees retain the services of an independent consultant with experience in the mutual fund industry to assist the Contracts Committee in developing and recommending to the Board: (1) a selected peer group of investment companies for the Fund ("Selected Peer Group") based on the Fund's particular attributes; and (2) updates to the Methodology Guide with respect to the content and format of various data prepared in connection with the renewal process.

The Manager or Sub-Adviser may not have been able to, or opted not to, provide information in response to certain information requests, in which case the Board conducted its evaluation based on the information that was provided. In such cases, the omission of any such information was not deemed to be material to the Board's considerations.

Provided below is an overview of certain material factors that the Board considered at its meetings regarding the renewal of the Contracts and the compensation to be paid thereunder. The Board members did not identify any particular information or factor that was most relevant to its consideration.

**Nature, Extent and Quality of Services**

The Manager oversees, subject to the authority of the Board, and is responsible for the provision of, all investment advisory and portfolio management services for the Fund, but may delegate certain of these responsibilities to one or more sub-advisers. In addition, the Manager provides administrative services reasonably necessary for the operation of the Fund as set forth in the Management Contract, including oversight of the Fund's operations and risk management and the oversight of its various other service providers.

The Board considered the "manager-of-managers" structure of the Voya funds that has been developed by the Manager pursuant to which the Manager selects, subject to the Board's approval, sub-advisers to provide day-to-day management services to all or a portion of each Voya fund. The Board recognized that the Manager is responsible for monitoring the Sub-Adviser's investment program, performance, developments, ongoing operations, and compliance with applicable regulations and investment policies and restrictions with respect to the Fund under

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

this manager-of-managers arrangement. The Board also considered the techniques and resources that the Manager has developed to provide this ongoing due diligence and oversight with respect to the sub-advisers and to recommend appropriate changes in investment strategies, sub-advisers, or allocation among sub-advisers in an effort to improve a Voya fund's performance. In connection with the Manager's performance of these duties, the Board considered that the Manager has developed an oversight process formulated by its Manager Research & Selection Group that reviews, among other matters, performance data, the Sub-Adviser's management team, portfolio data and attribution analysis related to the Sub-Adviser through various means, including, but not limited to, in-person meetings, on-site or virtual visits, and telephonic meetings with the Sub-Adviser.

Further, the Board considered periodic compliance reports it receives from the Trust's Chief Compliance Officer evaluating, among other related matters, whether the regulatory compliance systems and procedures of the Manager and Sub-Adviser are reasonably designed to ensure compliance with the federal securities laws and whether the investment policies and restrictions for the Fund are complied with on a consistent basis.

The Board considered the portfolio management team assigned by the Sub-Adviser to the Fund and the level of resources committed to the Fund (and other relevant funds in the Voya funds) by the Manager and the Sub-Adviser, and whether those resources are sufficient to provide high-quality services to the Fund.

Based on their deliberations and the materials presented to them, the Board concluded that the nature, extent and quality of the overall services provided by the Manager and Sub-Adviser under the Contracts were appropriate.

**Fund Performance**

In assessing the investment management and sub-advisory relationships, the Board placed emphasis on the investment returns of the Fund, including its investment performance over certain time periods compared to the Fund's Morningstar, Inc. ("Morningstar") category (Morningstar is an independent provider of mutual fund data) and primary benchmark, a broad-based securities market index. The Board also considered information from the Manager Research & Selection Group and received reports summarizing a separate analysis of the Fund's performance and risk, including risk-adjusted investment return information, from the Trust's Chief Investment Risk Officer.

**Economies of Scale**

When evaluating the reasonableness of the management fee schedule, the Board considered whether economies of scale have been or likely will be realized by the Manager and the Sub-Adviser if and when the Fund grows larger and the extent to which any such economies are shared with the Fund. The Board considered that, while the Fund does not have management fee breakpoints, it has fee waiver and expense reimbursement arrangements. The Board considered the extent to which economies of scale realized by the Manager could be shared with the Fund through such fee waivers, expense reimbursements or other expense reductions.

**Information Regarding Services, Performance, and Fee Schedules Offered to Other Clients**

The Board considered comparative information regarding the nature of services, performance, and fee schedules offered by the Manager and Sub-Adviser to other clients with similar investment objectives, if applicable, including other registered investment companies and relevant institutional accounts. When the fee schedules offered to or the performance of such other clients differed materially from the Fund, the Board took into account the underlying rationale provided by the Manager or Sub-Adviser, as applicable, for these differences.

**Fee Schedules, Profitability, and Fall-out Benefits**

The Board reviewed and considered the contractual management fee schedule and net management fee rate payable by the Fund to the Manager compared to the Fund's Selected Peer Group. The Board also considered the compensation payable by the Manager to the Sub-Adviser for sub-advisory services for the Fund, including the portion of the contractual and net management fee rates that are paid to the Sub-Adviser, as compared to the compensation paid to the Manager. In addition, the Board considered the fee waivers, expense limitations, and recoupment arrangements that apply to the fees payable by the Fund, including whether the Manager proposed any changes thereto. The Board separately determined that the fees payable to the Manager and the fee schedule payable to the Sub-Adviser are reasonable for the services that each performs, which were considered in light of the nature, extent and quality of the services that each has performed and is expected to perform.

The Board considered information on revenues, costs and profits or losses realized by the Manager and the Voya-affiliated Sub-Adviser related to their services to the Fund. In analyzing the profitability of the Manager and its affiliates in connection with services they render to the Fund, the Board took into account the sub-advisory fee rate payable

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

by the Manager to the Sub-Adviser. The Board also considered the profitability of the Manager and its affiliated Sub-Adviser attributable to servicing the Fund both with and without taking into account the profitability of the distributor of the Fund and any revenue sharing payments made by, or other distribution-related expenses incurred by, the Manager.

Although the Methodology Guide establishes a framework for profit calculation by the Manager and its affiliated Sub-Adviser, the Board recognized that there is no uniform methodology within the asset management industry for determining profitability for this purpose. The Board also recognized that the use of different reasonable methodologies can give rise to dramatically different reported profit and loss results with respect to the Manager and the Voya-affiliated Sub-Adviser, as well as other industry participants with whom the profits of the Manager and its affiliated Sub-Adviser could be compared. In addition, the Board recognized that management's calculations regarding its costs incurred in establishing the infrastructure necessary for the Fund's operations may not be fully reflected in the expenses allocated to the Fund in determining profitability. The Board also recognized that the information presented may not portray all of the costs borne by the Manager or reflect all of the risks associated with offering and managing a mutual fund complex in the current regulatory and market environment, including entrepreneurial, regulatory, legal and operational risks.

The Board also considered that the Manager and the Voya-affiliated Sub-Adviser are entitled to earn a reasonable level of profits for the services that they provide to the Fund. The Board also considered information regarding the potential fall-out benefits to the Manager and Sub-Adviser and their respective affiliates from their association with the Fund. Following its reviews, the Board determined that the Manager's and the Voya-affiliated Sub-Adviser's profitability with respect to their services to the Fund and the Manager's and Sub-Adviser's potential fall-out benefits were not unreasonable.

**Fund Analysis**

Set forth below are certain of the specific factors that the Board considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings in relation to approving the Fund's Contracts and the conclusions reached by the Board. These specific factors are in addition to those considerations discussed above. The performance data provided to the Board primarily was for various periods ended March 31, 2025. In addition, the Board also considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings certain additional data regarding the Fund's more recent performance, asset

levels and asset flows. The Fund's management fee rate and expense ratios were compared to the management fee rates and expense ratios of the funds in its Selected Peer Group. With respect to the quintile rankings noted below, the first quintile represents the range of funds with the highest performance or the lowest management fee rate or expense ratio, as applicable, and the fifth quintile represents the range of funds with the lowest performance or the highest management fee rate or expense ratio, as applicable.

In considering whether to approve the renewal of the Contracts for the Fund, the Board considered that, based on performance data for the periods ended March 31, 2025, the Fund outperformed its performance benchmark for the five-year period, was equal to its performance benchmark for the year-to-date and three-year periods and underperformed its performance benchmark for the one-year and ten-year periods.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the fourth quintile; (b) the Fund's contractual management fee rate is ranked in the fourth quintile; and (c) the Fund's net expense ratio is ranked in the third quintile. In analyzing this fee data, the Board took into account management's representations regarding the competitiveness of the Fund's net expense ratio.

**Board Conclusions**

After its deliberation, the Board concluded that, in its business judgment, the terms of the Contracts are fair and reasonable to the Fund and that approval of the continuation of the Contracts is in the best interests of the Fund and its shareholders. In doing so, the Board reviewed all factors it considered to be material, including those discussed above. Within the context of its overall conclusions regarding the Contracts, and based on the information provided and management's related representations, the Board concluded that it was satisfied with management's responses relating to the Fund's investment performance and the fees payable under the Contracts. During this renewal process, each Board member may have accorded different weight to various factors in reaching his or her conclusions. Based on these conclusions and other factors, the Board voted to renew the Contracts for the Fund for the year ending November 30, 2026.

---

| | |
|:---|:---|
| **Investment Adviser** | **Independent Registered Public Accounting Firm** |

---

Voya Investments, LLC Ernst & Young LLP

7337 East Doubletree Ranch Road, Suite 100 200 Clarendon Street

Scottsdale, Arizona 85258 Boston, Massachusetts 02116

---

| | |
|:---|:---|
| **Distributor** | **Custodian** |

---

Voya Investments Distributor, 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

---

| | |
|:---|:---|
| **Transfer Agent** | **Legal Counsel** |

---

BNY Mellon Investment Servicing (U.S.) Inc. Ropes & Gray LLP

103 Bellevue Parkway Prudential Tower

Wilmington, Delaware 19809 800 Boylston Street

Boston, Massachusetts 02199

**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.**

**163052 (0326)**

![](tm269275d1_vasimg01.jpg)

Annual Financial Statements and Other Information

**March 31, 2026**

■ Voya VACS Series CB Fund

■ 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.

---

| | |
|:---|:---|
| ![](tm269275d1_vasimg02.jpg) | E-Delivery Sign-up – details inside |

---

---

| | |
|:---|:---|
| **INVESTMENT MANAGEMENT**<br>**voyainvestments.com** | ![](tm269275d1_vasimg03.jpg) |

---

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#a_001) | [1](#a_001) |
| [Statements of Assets and Liabilities](#a_002) | [3](#a_002) |
| [Statements of Operations](#a_003) | [5](#a_003) |
| [Statements of Changes in Net Assets](#a_004) | [6](#a_004) |
| [Financial Highlights](#a_005) | [8](#a_005) |
| [Notes to Financial Statements](#a_006) | [9](#a_006) |
| [Portfolios of Investments](#va_001) | [21](#va_001) |
| [Tax Information](#va_002) | [74](#va_002) |
| [Advisory and Sub-Advisory Contract Approval Discussion](#va_003) | [75](#va_003) |

---

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

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of Voya VACS Series EMHCD Fund, Voya VACS Series SC Fund, Voya VACS Series HYB Fund and Voya VACS Series CB Fund and the Board of Trustees of Voya Separate Portfolios Trust and Voya Funds Trust

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of Voya VACS Series EMHCD Fund and Voya VACS Series SC Fund (two of the funds constituting Voya Separate Portfolios Trust) and Voya VACS Series HYB Fund and Voya VACS Series CB Fund (two of the funds constituting Voya Funds Trust, collectively, with Voya Separate Portfolios Trust, referred to as the "Trusts") (collectively, with Voya VACS Series EMHCD Fund and Voya VACS Series SC Fund, referred to as the "Funds"), including the portfolios of investments, as of March 31, 2026, and the related statements of operations and changes in net assets and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds at March 31, 2026 and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Individual fund constituting | Statement of | Statements of changes in | &nbsp;&nbsp;Financial highlights |
| &nbsp;&nbsp;the Trusts | Operations | net assets |  |
| &nbsp;&nbsp;Voya VACS Series EMHCD Fund | For the year ended March 31, 2026 | For each of the two years in the period ended March 31, 2026 | &nbsp;&nbsp;For each of the three years in the period ended March 31, 2026 and the period from February 17, 2023 (commencement of operations) through March 31, 2023 |
| &nbsp;&nbsp;Voya VACS Series SC Fund | For the year ended March 31, 2026 | For each of the two years in the period ended March 31, 2026 | &nbsp;&nbsp;For each of the three years in the period ended March 31, 2026 and the period from March 03, 2023 (commencement of operations) through March 31, 2023 |
| &nbsp;&nbsp;Voya VACS Series HYB Fund | For the year ended March 31, 2026 | For each of the two years in the period ended March 31, 2026 | &nbsp;&nbsp;For each of the three years in the period ended March 31, 2026 and the period from February 24, 2023 (commencement of operations) through March 31, 2023 |
| &nbsp;&nbsp;Voya VACS Series CB Fund | For the period from January 22, 2026 (commencement of operations) through March 31, 2026 | For the period from January 22, 2026 (commencement of operations) through March 31, 2026 | For the period from January 22, 2026 (commencement of operations) through March 31, 2026 |

---

**Basis for Opinion**

These financial statements are the responsibility of the Trusts' management. Our responsibility is to express an opinion on each of the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Trusts in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (continued)

misstatement, whether due to error or fraud. The Trusts are not required to have, nor were we engaged to perform, an audit of the Trusts' internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trusts' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

![](tm269275d1_vas01img03.jpg)

We have served as the auditor of one or more Voya investment companies since 2019.

Boston, Massachusetts

May 27, 2026

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya VACS Series**<br>**CB Fund** | **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+\* | $80694714 | $104118317 | $299387901 | $159513421 |
| Investments in affiliated underlying funds at fair value<sup>\*\*</sup> | 2374193 |  |  |  |
| Short-term investments at fair value† |  | 14159055 | 28286211 | 9200357 |
| Cash | 316152 |  | 98646 | 18545 |
| Cash collateral for futures contracts | 172300 | 174603 |  | 580810 |
| Cash pledged for centrally cleared swaps (Note 2) | 200000 |  |  |  |
| Foreign currencies at value‡ Receivables: |  | 215 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities sold | 1836953 | 671625 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | 12539 | 9808 | 8201 | 8228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 476273 | 1458725 | 4560091 | 665079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on futures contracts | 8479 | 7300 |  | 58375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Variation margin on centrally cleared swaps | 24378 |  |  |  |
| Prepaid expenses | 1109 | 13568 | 15401 | 13657 |
| Prepaid offering expense | 60822 |  |  |  |
| Reimbursement due from Investment Adviser | 4526 |  |  |  |
| Other assets | 33 | 843 | 1482 | 1394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 86182471 | 120614059 | 332357933 | 170059866 |
| **LIABILITIES:** |  |  |  |  |
| Income distribution payable |  | 379 | 1435 | 329843 |
| Payable for investment securities purchased | 1834642 | 2244459 | 10181939 | 44063 |
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | 4318829 |  |  |  |
| Payable for fund shares redeemed |  | 67 | 82782 | 292 |
| Payable upon receipt of securities loaned |  | 1765005 | 14054022 |  |
| Payable to custodian due to bank overdraft |  | 999310 |  |  |
| Payable to trustees under the deferred compensation plan (Note 5) | 33 | 843 | 1482 | 1394 |
| Payable for trustee fees | 201 | 291 | 687 | 469 |
| Payable for foreign capital gains tax |  | 138695 |  |  |
| Other accrued expenses and liabilities | 51269 | 48358 | 79777 | 65234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6204974 | 5197407 | 24402124 | 441295 |
| **NET ASSETS** | $79977497 | $115416652 | $307955809 | $169618571 |
| **NET ASSETS WERE COMPRISED OF:** |  |  |  |  |
| Paid-in capital | $80698483 | $108654713 | $308534433 | $160702496 |
| Total distributable earnings (loss) | (720986) | 6761939 | (578624) | 8916075 |
| **NET ASSETS** | $79977497 | $115416652 | $307955809 | $169618571 |
| + Including securities loaned at value | $— | $1695660 | $13674946 | $— |
| \* Cost of investments in securities | $81425608 | $98361564 | $300532553 | $151848811 |
| \*\* Cost of investments in affiliated underlying funds | $2426885 | $— | $— | $— |
| † Cost of short-term investments | $— | $14159857 | $28287325 | $9201079 |
| ‡ Cost of foreign currencies | $— | $220 | $— | $— |
| Net assets | $79977497 | $115416652 | $307955809 | $169618571 |
| Shares authorized | unlimited | unlimited | unlimited | unlimited |
| Par value | $0.001 | $0.001 | $0.001 | $0.001 |
| Shares outstanding | 8069756 | 11082308 | 30280421 | 16309813 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF ASSETS AND LIABILITIES as of March 31, 2026 (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Net asset value and redemption price per share | $9.91 | $10.41 | $10.17 | $10.4 |

---

See Accompanying Notes to Financial Statements

STATEMENTS OF OPERATIONS for the year ended March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya VACS Series**<br>**CB Fund** | **Voya VACS Series**<br>**EMHCD Fund** | **Voya VACS Series**<br>**HYB Fund** | **Voya VACS Series**<br>**SC Fund** |
|  | **January 22, 2026<sup>(1)</sup>**<br>**to March 31, 2026** | | | |
| **INVESTMENT INCOME:** |  |  |  |  |
| Dividends | $— | $64177 | $106428 | $54527 |
| Dividends from affiliated underlying funds | 23887 |  |  |  |
| Interest, net of foreign taxes withheld\* | 660411 | 7821366 | 17694659 | 11864322 |
| Securities lending income, net |  | 13843 | 58785 |  |
| Other |  | 691 | 1571 | 1131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income | 684298 | 7900077 | 17861443 | 11919980 |
| **EXPENSES:** |  |  |  |  |
| Transfer agent fees | 152 | 248 | 324 | 145 |
| Shareholder reporting expense | 342 | 5138 | 1761 | 2509 |
| Registration fees | 38 | 19922 | 29163 | 22391 |
| Professional fees | 16212 | 30332 | 60527 | 43545 |
| Custody and accounting expense | 2077 | 43458 | 38407 | 43141 |
| Trustee fees | 640 | 2910 | 6875 | 4686 |
| Offering expense | 14178 |  |  |  |
| Miscellaneous expense | 480 | 11438 | 19832 | 42910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 34119 | 113446 | 156889 | 159327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waived and reimbursed fees | (10897) |  |  | (29451) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses | 23222 | 113446 | 156889 | 129876 |
| Net investment income | 661076 | 7786631 | 17704554 | 11790104 |
| **REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (net of foreign capital gains taxes withheld^) | 75959 | 1557099 | 2350583 | 4063436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  | (3079) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | 73467 | (308249) |  | 227345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | 4985 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain | 154411 | 1245771 | 2350583 | 4290781 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (net of foreign capital gains taxes accrued#) | (730894) | 3084054 | (2217928) | (3915690) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated underlying funds | (52692) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency related transactions |  | (5) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures | (57345) | (64615) |  | (750465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps | (1459) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (842390) | 3019434 | (2217928) | (4666155) |
| Net realized and unrealized gain (loss) | (687979) | 4265205 | 132655 | (375374) |
| **Increase (decrease) in net assets resulting from operations** | $(26903) | $12051836 | $17837209 | $11414730 |
| \* Foreign taxes withheld | $976 | $— | $— | $— |
| ^ Foreign capital gains taxes withheld | $— | $60617 | $— | $— |
| # Increase in foreign capital gains taxes accrued | $— | $11420 | $— | $— |

---

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

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya VACS Series**<br>**CB Fund** | **Voya VACS Series EMHCD Fund** | **Voya VACS Series EMHCD Fund** |
|  | **January 22,**<br>**2026 <sup>(1)</sup>**<br>**to March 31, 2026** | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |
| Net investment income | $661076 | $7786631 | $8161619 |
| Net realized gain | 154411 | 1245771 | 3853603 |
| Net change in unrealized appreciation (depreciation) | (842390) | 3019434 | (3216768) |
| Increase (decrease) in net assets resulting from operations | (26903) | 12051836 | 8798454 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| Total distributions (excluding return of capital) | (694083) | (8624570) | (12678907) |
| Total distributions | (694083) | (8624570) | (12678907) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |
| Net proceeds from sale of shares | 80004410 | 2946537 | 8193590 |
| Reinvestment of distributions | 694083 | 8597998 | 12678907 |
|  | 80698493 | 11544535 | 20872497 |
| Cost of shares redeemed | (10) | (12179940) | (28221967) |
| Net increase (decrease) in net assets resulting from capital share transactions | 80698483 | (635405) | (7349470) |
| Net increase (decrease) in net assets | 79977497 | 2791861 | (11229923) |
| **NET ASSETS:** |  |  |  |
| Beginning of year or period |  | 112624791 | 123854714 |
| End of year or period | $79977497 | $115416652 | $112624791 |

---

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

See Accompanying Notes to Financial Statements

STATEMENTS OF CHANGES IN NET ASSETS

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Voya VACS Series HYB Fund** | **Voya VACS Series HYB Fund** | **Voya VACS Series SC Fund** | **Voya VACS Series SC Fund** |
|  | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** | **Year Ended**<br>**March 31,**<br>**2026** | **Year Ended**<br>**March 31,**<br>**2025** |
| **FROM OPERATIONS:** |  |  |  |  |
| Net investment income | $17704554 | $10825490 | $11790104 | $12635413 |
| Net realized gain | 2350583 | 978232 | 4290781 | 2102598 |
| Net change in unrealized appreciation |  |  |  |  |
| (depreciation) | (2217928) | (2106748) | (4666155) | 3109796 |
| Increase in net assets resulting from operations | 17837209 | 9696974 | 11414730 | 17847807 |
| **FROM DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| Total distributions (excluding return of capital) | (20162873) | (10876527) | (14558442) | (12613918) |
| Total distributions | (20162873) | (10876527) | (14558442) | (12613918) |
| **FROM CAPITAL SHARE TRANSACTIONS:** |  |  |  |  |
| Net proceeds from sale of shares | 162978972 | 86853420 | 950392 | 55669247 |
| Reinvestment of distributions | 20068451 | 10863512 | 10079284 | 8161756 |
|  | 183047423 | 97716932 | 11029676 | 63831003 |
| Cost of shares redeemed | (43378567) | (53768017) | (45401879) | (64445145) |
| Net increase (decrease) in net assets resulting from capital share transactions | 139668856 | 43948915 | (34372203) | (614142) |
| Net increase (decrease) in net assets | 137343192 | 42769362 | (37515915) | 4619747 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of year or period | 170612617 | 127843255 | 207134486 | 202514739 |
| End of year or period | $307955809 | $170612617 | $169618571 | $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 CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** | **Voya VACS Series CB Fund** |
| 01-22-26<sup>(4)_</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 03-31-26 | 10.00 | 0.08 | <sup>•</sup> | (0.08) | 0.00 | 0.09 |  |  | 0.09 |  | 9.91 | **(0.04**) | 0.22 | 0.15 | 0.15 | 4.36 | 79977 | 79 |
| **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** |
| 03-31-26 | 10.12 | 0.70 | <sup>•</sup> | 0.37 | 1.07 | 0.68 | 0.10 |  | 0.78 |  | 10.41 | **10.77** | 0.10 | 0.10 | 0.10 | 6.69 | 115417 | 121 |
| 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** |
| 03-31-26 | 10.20 | 0.67 | <sup>•</sup> | 0.06 | 0.73 | 0.69 | 0.07 |  | 0.76 |  | 10.17 | **7.28** | 0.06 | 0.06 | 0.06 | 6.44 | 307956 | 64 |
| 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 | 0.08 | <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** |
| 03-31-26 | 10.59 | 0.67 | <sup>•</sup> | (0.02) | 0.65 | 0.71 | 0.13 |  | 0.84 |  | 10.40 | **6.22** | 0.09 | 0.07 | 0.07 | 6.29 | 169619 | 26 |
| 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> | Calculated using average number of shares outstanding throughout the year or period. |

---

See Accompanying Notes to Financial Statements

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026

------

**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"), and Voya VACS Series CB Fund ("CB"), each 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 thirteen separately managed series. This report is for Voya VACS Series EMHCD Fund ("EMHCD"), a diversified series of Voya Separate Portfolios Trust, and Voya Series SC Fund ("SC"), a diversified series of Voya Separate Portfolios Trust. Effective February 17, 2026, EMHCD's classification changed from a non-diversified fund to a diversified fund as a result of being managed as diversified for a period of three years.

Voya Funds Trust and Voya Separate Portfolios Trust are each a "Trust" and collectively referred to as the "Trusts." CB, HYB, EMHCD and SC are each a "Fund" and collectively referred to 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 Fund 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

------

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

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 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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.*** 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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.*** 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 March 31, 2026.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 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 year ended March 31, 2026, CB, 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 year ended March 31, 2026, the Funds had average notional values on futures contracts purchased and sold as disclosed below:

---

| | | |
|:---|:---|:---|
|  | **Purchased** | **Sold** |
| CB | $21726289 | $1562062 |
| EMHCD | 13884656 | 7138064 |
| SC | 64676127 | 4453313 |

---

Please refer to the tables within the Portfolio of Investments for open futures contracts at March 31, 2026. HYB did not enter into any futures contracts during the year ended March 31, 2026.

F. ***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. Certain Funds 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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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 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. 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.

During the year ended March 31, 2026, CB had no open credit default swaps to buy protection.

During the year ended March 31, 2026, CB sold credit protection on credit default swap indices ("CDX") with an average notional amount of $2,695,781 to gain exposure to the various sectors of the credit market. A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. Please refer to the tables within the Portfolio of Investments for open credit default swaps to sell protection at March 31, 2026.

G. ***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.

H. ***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.

I. ***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.

J. ***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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

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

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.

K. ***Offering Costs.*** Costs incurred with the offering of shares of a Fund are deferred and amortized over a twelve month period on a straight-line basis starting at the commencement of operations.

L. ***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 year ended March 31, 2026, 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** |
| CB | $49028582 | $3915587 |
| EMHCD | 123673135 | 131451636 |
| HYB | 299243353 | 166339771 |
| SC | 43628318 | 64800842 |

---

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

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| CB | $93940720 | $56579468 |
| EMHCD | 4397873 | 4400427 |
| SC | 2397813 | 6569722 |

---

**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 CB, 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 March 31, 2026, 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 Investment Trust Co. | CB | 99.99% |
| Voya Intermediate Bond Portfolio | EMHCD | 73.87 |
|  | HYB | 9.64 |
|  | SC | 32.67 |
| Voya Investment Management Co. LLC | EMHCD | 20.04 |
|  | HYB | 23.39 |
|  | SC | 50.24 |
| Voya Retirement Insurance and Annuity Company | HYB | 57.63 |

---

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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)**

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 year ended March 31, 2026, 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** |
| CB | 0.15% |
| EMHCD | 0.15% |
| HYB | 0.15% |
| SC | 0.05% |

---

The Investment Adviser may until August 1, 2026 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 March 31, 2026, 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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31,** | **March 31,** | **March 31,** | |
|  | **2027** | **2028** | **2029** | <br>**Total** |
| CB | $— | $— | $10897 | $10897 |
| SC | 67007 | 107814 | 29451 | 204272 |

---

The Expense Limitation Agreement is contractual through August 1, 2026. Termination or modification of this obligation requires approval by the Board.

**NOTE 7 — LINE OF CREDIT**

Effective June 10, 2025, EMHCD, HYB and SC, 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 year ended March 31, 2026.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 8 — CAPITAL SHARES**

Transactions in capital shares and dollars are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <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** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | <br>**#** | **($)** | **($)** | **($)** | **($)** | **($)** | **($)** |
| **CB** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/22/2026<sup>(1)</sup>- |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 8000441 |  | 69316 | (1) |  | 8069756 | 80004410 |  | 694083 | (10) |  | 80698483 |
| **EMHCD** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 273717 |  | 816625 | (1132953) |  | (42611) | 2946537 |  | 8597998 | (12179940) |  | (635405) |
| 3/31/2025 | 765918 |  | 1231864 | (2638253) |  | (640471) | 8193590 |  | 12678907 | (28221967) |  | (7349470) |
| **HYB** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 15795220 |  | 1941577 | (4188094) |  | 13548703 | 162978972 |  | 20068451 | (43378567) |  | 139668856 |
| 3/31/2025 | 8432276 |  | 1057901 | (5242381) |  | 4247796 | 86853420 |  | 10863512 | (53768017) |  | 43948915 |
| **SC** |  |  |  |  |  |  |  |  |  |  |  |  |
| 3/31/2026 | 89519 |  | 952989 | (4286784) |  | (3244276) | 950392 |  | 10079284 | (45401879) |  | (34372203) |
| 3/31/2025 | 5293232 |  | 776201 | (6115427) |  | (45994) | 55669247 |  | 8161756 | (64445145) |  | (614142) |

---

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

**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 March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **EMHCD**<br>**Counterparty** |<br>**Securities**<br>**Loaned at Value** |<br>**Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| BofA Securities Inc | $329955 | $(329955) | $&nbsp;&nbsp;&nbsp;&nbsp;— |
| HSBC Bank PLC | 286209 | (286209) |  |
| Jefferies International Ltd | 788057 | (788057) |  |
| JP Morgan Securities Plc. | 40658 | (40658) |  |
| Merrill Lynch International | 250781 | (250781) |  |
| Total | $1695660 | $(1695660) | $— |

---

(1) Cash collateral with a fair value
of $1,765,005 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 March 31, 2026 (continued)

**NOTE 9 — SECURITIES LENDING (continued)**

---

| | | | |
|:---|:---|:---|:---|
| **HYB**<br>**Counterparty** |<br>**Securities**<br>**Loaned at Value** |<br>**Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| BofA Securities Inc | $1798832 | $(1798832) | $— |
| Jefferies LLC | 280560 | (280560) |  |
| JP Morgan Securities Plc. | 1421639 | (1421639) |  |
| Mizuho Securities USA LLC. | 2654488 | (2654488) |  |
| Scotia Capital (USA) INC | 1626423 | (1626423) |  |
| State Street Bank and Trust Company | 297284 | (297284) |  |
| TD Securities (USA) Inc. | 1435466 | (1435466) |  |
| Truist Securities INC | 1281694 | (1281694) |  |
| Wells Fargo Bank NA | 1056364 | (1056364) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Counterparty** | **Securities**<br>**Loaned at Value** | **Cash Collateral**<br>**Received<sup>(1)</sup>** |<br>**Net Amount** |
| Wells Fargo Securities LLC | $1822196 | $(1822196) | $— |
| Total | $13674946 | $(13674946) | $— |

---

(1) Cash
 collateral with a fair value of $14,054,022 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, 2026** | **March 31, 2026** | **March 31, 2025** | **March 31, 2025** |
|  | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** | **Ordinary**<br>**Income** | **Long-term**<br>**Capital Gains** |
| CB | $694083 | $— | $— | $— |
| EMHCD | 7662757 | 961813 | 9810009 | 2868898 |
| HYB | 18145075 | 2017798 | 10876527 |  |
| SC | 12475577 | 2082865 | 12613918 |  |

---

The tax-basis components of distributable earnings as of March 31, 2026, were:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Undistributed**<br>**Ordinary**<br>**Income** | **Undistributed**<br>**Long-term**<br>**Capital Gains** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |<br>**Other** | **Total**<br>**Distributable**<br>**Earnings/(Loss)** |
| CB | $107412 | $— | $(828398) | $— | $(720986) |
| EMHCD | 290240 | 745932 | 5783985 | (58218) | 6761939 |
| HYB |  | 773112 | (1350300) | (1436) | (578624) |
| SC | 330444 | 1251585 | 7663888 | (329842) | 8916075 |

---

At March 31, 2026, the Funds did not have any capital loss carryforwards for U.S. federal income tax purposes.

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 10 — FEDERAL INCOME TAXES (continued)**

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

As of March 31, 2026, 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. Military action by Russia in Ukraine, the prolonged conflict between Hamas and Israel, the Iranian conflict that commenced in February 2026, and political upheaval in Venezuela have resulted, and may continue to result, in sanctions, market disruptions, declines in regional and global stock markets, unusual volatility in global commodity markets, and disruptions to energy production or transportation, including through key shipping routes, any of which could adversely affect the value of investments, including beyond the direct exposure to issuers in the affected regions. The escalation or expansion of hostilities including the involvement of additional nations, could introduce further uncertainty and volatility in global energy, commodity, and financial markets. The extent and duration of these conflicts, related sanctions, and resulting market disruptions are impossible to predict but 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 Fund and of a Fund's service providers. Recent technological developments in, and the increasingly widespread use of, artificial intelligence, including machine learning technology and generative artificial intelligence ("AI"), may pose risks to a Fund. For instance, the economy may be significantly impacted by the advanced development and increased regulation of AI. As AI is used more widely, the profitability and growth of Fund holdings may be impacted, which could significantly impact the overall performance of a Fund. The legal and regulatory frameworks within which AI operates continue to rapidly evolve, and it is not possible to predict the full extent of current or future risks related thereto.

**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

NOTES TO FINANCIAL STATEMENTS as of March 31, 2026 (continued)

**NOTE 12 — SEGMENT REPORTING (continued)**

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 13 — OTHER ACCOUNTING PRONOUNCEMENT**

The Funds have adopted the provisions of Financial Accounting Standards Board Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 enhances income tax disclosures, including providing specific categories in rate reconciliation and income taxes paid. Upon evaluation, the adoption of the new accounting standard does not materially impact the financial statement amounts or disclosures.

**NOTE 14 — SUBSEQUENT EVENTS**

Dividends: Subsequent to March 31, 2026, the Funds declared dividends from net investment income of:

---

| | | | |
|:---|:---|:---|:---|
|  | **Per Share**<br>**Amount** | **Payable**<br>**Date** | **Record**<br>**Date** |
| CB | $0.0363 | April 30, 2026 | Daily |
| EMHCD | $0.0531 | April 30, 2026 | Daily |
| HYB | $0.0518 | April 30, 2026 | Daily |
| SC | $0.0594 | April 30, 2026 | 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 CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: 30.9%** | **CORPORATE BONDS/NOTES: 30.9%** | | |
|  | **Basic Materials: 0.3%** | **Basic Materials: 0.3%** | **Basic Materials: 0.3%** |
| 43000 | BHP Billiton Finance USA Ltd., 5.125%, 02/21/2032 | $43926 | 0.1 |
| 32000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2030 | 32948 | 0.0 |
| 53000 | Nucor Corp., 5.100%, 06/01/2035 | 53576 | 0.1 |
| 3000 | Nutrien Ltd., 5.875%, 12/01/2036 | 3092 | 0.0 |
| 43000 | Rio Tinto Finance USA PLC, 5.000%, 03/14/2032 | 43897 | 0.1 |
| 34000 | Steel Dynamics, Inc., 1.650%, 10/15/2027 | 32639 | 0.0 |
|  |  | **210078** | **0.3** |
|  | **Communications: 3.7%** |  |  |
| 65000 | Alphabet, Inc., 4.400%, 02/15/2033 | 64209 | 0.1 |
| 58000 | Alphabet, Inc., 4.700%, 11/15/2035 | 57326 | 0.1 |
| 50000 | Alphabet, Inc., 4.800%, 02/15/2036 | 49805 | 0.1 |
| 16000 | Alphabet, Inc., 5.300%, 05/15/2065 | 14822 | 0.0 |
| 58000 | Alphabet, Inc., 5.450%, 11/15/2055 | 56196 | 0.1 |
| 37000 | Alphabet, Inc., 5.700%, 11/15/2075 | 35888 | 0.0 |
| 31000 | Alphabet, Inc., 5.750%, 02/15/2066 | 30724 | 0.0 |
| 30000 | Amazon.com, Inc., 2.100%, 05/12/2031 | 26896 | 0.0 |
| 45000 | Amazon.com, Inc., 4.250%, 03/13/2031 | 44678 | 0.1 |
| 41000 | Amazon.com, Inc., 4.350%, 03/20/2033 | 40270 | 0.0 |
| 67000 | Amazon.com, Inc., 4.550%, 03/13/2033 | 66375 | 0.1 |
| 55000 | Amazon.com, Inc., 4.650%, 11/20/2035 | 53951 | 0.1 |
| 38000 | Amazon.com, Inc., 5.450%, 11/20/2055 | 36328 | 0.0 |
| 79000 | Amazon.com, Inc., 5.550%, 11/20/2065 | 74700 | 0.1 |
| 45000 | Amazon.com, Inc., 5.650%, 03/13/2046 | 44871 | 0.1 |
| 50000 | Amazon.com, Inc., 5.800%, 03/13/2056 | 49995 | 0.1 |
| 33000 | Amazon.com, Inc., 6.050%, 03/13/2076 | 32832 | 0.0 |
| 66000 | AppLovin Corp., 5.125%, 12/01/2029 | 66398 | 0.1 |
| 54000 | AppLovin Corp., 5.375%, 12/01/2031 | 54549 | 0.1 |
| 13000 | AT&T, Inc., 3.800%, 12/01/2057 | 8798 | 0.0 |
| 5000 | AT&T, Inc., 4.500%, 05/15/2035 | 4742 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 36000 | AT&T, Inc., 4.550%, 11/01/2032 | $35399 | 0.0 |
| 72000 | AT&T, Inc., 4.900%, 11/01/2035 | 70266 | 0.1 |
| 24000 | AT&T, Inc., 4.900%, 08/15/2037 | 23106 | 0.0 |
| 36000 | AT&T, Inc., 6.050%, 08/15/2056 | 35481 | 0.0 |
| 37000<sup>(1)</sup> | Beignet Investor LLC, 6.581%, 05/30/2049 | 38070 | 0.0 |
| 18000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 2.800%, 04/01/2031 | 16165 | 0.0 |
| 54000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.900%, 06/01/2052 | 34410 | 0.0 |
| 12000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061 | 7714 | 0.0 |
| 22000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.800%, 03/01/2050 | 16277 | 0.0 |
| 32000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.250%, 04/01/2053 | 25120 | 0.0 |
| 59000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.100%, 06/01/2029 | 61127 | 0.1 |
| 31000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.550%, 06/01/2034 | 32201 | 0.0 |
| 50000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.700%, 12/01/2055 | 47819 | 0.1 |
| 42000 | Cisco Systems, Inc., 4.950%, 02/26/2031 | 43042 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 61000 | Cisco Systems, Inc., 4.950%, 02/24/2032 | $62271 | 0.1 |
| 22000 | Comcast Corp., 1.500%, 02/15/2031 | 19072 | 0.0 |
| 20000 | Comcast Corp., 1.950%, 01/15/2031 | 17749 | 0.0 |
| 46000 | Comcast Corp., 2.650%, 02/01/2030 | 43089 | 0.1 |
| 21000 | Comcast Corp., 3.200%, 07/15/2036 | 17616 | 0.0 |
| 22000 | Comcast Corp., 3.900%, 03/01/2038 | 18905 | 0.0 |
| 15000 | Comcast Corp., 5.300%, 06/01/2034 | 15232 | 0.0 |
| 57000 | Meta Platforms, Inc., 4.200%, 11/15/2030 | 56460 | 0.1 |
| 42000 | Meta Platforms, Inc., 4.600%, 11/15/2032 | 41602 | 0.1 |
| 56000 | Meta Platforms, Inc., 4.875%, 11/15/2035 | 54961 | 0.1 |
| 47000 | Meta Platforms, Inc., 5.400%, 08/15/2054 | 42604 | 0.1 |
| 73000 | Meta Platforms, Inc., 5.500%, 11/15/2045 | 69128 | 0.1 |
| 50000 | Meta Platforms, Inc., 5.550%, 08/15/2064 | 44979 | 0.1 |
| 44000 | Meta Platforms, Inc., 5.625%, 11/15/2055 | 41275 | 0.1 |
| 44000 | Meta Platforms, Inc., 5.750%, 11/15/2065 | 40899 | 0.1 |
| 27000 | Motorola Solutions, Inc., 5.000%, 04/15/2029 | 27371 | 0.0 |
| 34000 | Motorola Solutions, Inc., 5.550%, 08/15/2035 | 34774 | 0.0 |
| 43000 | Netflix, Inc., 5.875%, 11/15/2028 | 44745 | 0.1 |
| 44000 | Omnicom Group, Inc., 5.000%, 06/02/2033 | 42991 | 0.1 |
| 82000 | Sprint Capital Corp., 6.875%, 11/15/2028 | 86716 | 0.1 |
| 54000 | Sprint Capital Corp., 8.750%, 03/15/2032 | 64237 | 0.1 |
| 20000 | Time Warner Cable LLC, 5.500%, 09/01/2041 | 17254 | 0.0 |
| 7000 | Time Warner Cable LLC, 5.875%, 11/15/2040 | 6350 | 0.0 |
| 13000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | 12474 | 0.0 |
| 21000 | T-Mobile USA, Inc., 2.625%, 02/15/2029 | 19978 | 0.0 |
| 2000 | T-Mobile USA, Inc., 3.000%, 02/15/2041 | 1463 | 0.0 |
| 10000 | T-Mobile USA, Inc., 3.375%, 04/15/2029 | 9693 | 0.0 |
| 74000 | T-Mobile USA, Inc., 3.500%, 04/15/2031 | 70012 | 0.1 |
| 60000 | T-Mobile USA, Inc., 3.875%, 04/15/2030 | 58449 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Communications: (continued)** | **Communications: (continued)** | **Communications: (continued)** |
| 14000 | T-Mobile USA, Inc., 5.000%, 02/15/2036 | $13794 | 0.0 |
| 41000 | T-Mobile USA, Inc., 5.300%, 05/15/2035 | 41357 | 0.1 |
| 36000 | T-Mobile USA, Inc., 5.850%, 02/15/2056 | 34962 | 0.0 |
| 35000 | Uber Technologies, Inc., 4.300%, 01/15/2030 | 34723 | 0.0 |
| 27000<sup>(1)</sup> | Uber Technologies, Inc., 4.500%, 08/15/2029 | 26786 | 0.0 |
| 78000 | Uber Technologies, Inc., 5.350%, 09/15/2054 | 71863 | 0.1 |
| 3000 | Verizon Communications, Inc., 1.750%, 01/20/2031 | 2631 | 0.0 |
| 28000 | Verizon Communications, Inc., 2.355%, 03/15/2032 | 24450 | 0.0 |
| 3000 | Verizon Communications, Inc., 2.550%, 03/21/2031 | 2724 | 0.0 |
| 9000 | Verizon Communications, Inc., 4.400%, 11/01/2034 | 8572 | 0.0 |
| 33000 | Verizon Communications, Inc., 4.812%, 03/15/2039 | 30782 | 0.0 |
| 51000 | Verizon Communications, Inc., 5.000%, 01/15/2036 | 49963 | 0.1 |
| 78000 | Verizon Communications, Inc., 5.875%, 11/30/2055 | 75924 | 0.1 |
| 59000 | Verizon Communications, Inc., 6.000%, 11/30/2065 | 57216 | 0.1 |
|  |  | **2958646** | **3.7** |
|  | **Consumer, Cyclical: 2.1%** |  |  |
| 3157 | American Airlines Pass Through Trust 2015-2, AA, 3.600%, 03/22/2029 | 3121 | 0.0 |
| 17542 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | 17311 | 0.0 |
| 26887 | American Airlines Pass Through Trust 2016-2, AA, 3.200%, 12/15/2029 | 26220 | 0.0 |
| 52279 | American Airlines Pass Through Trust 2017-2, AA, 3.350%, 04/15/2031 | 50602 | 0.1 |
| 43000 | American Honda Finance Corp., 4.700%, 01/12/2028 | 43095 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 23000 | American Honda Finance Corp., 5.650%, 11/15/2028 | $23565 | 0.0 |
| 52000 | American Honda Finance Corp., GMTN, 4.850%, 10/23/2031 | 51564 | 0.1 |
| 15000 | AutoZone, Inc., 6.250%, 11/01/2028 | 15665 | 0.0 |
| 25000 <sup>(1)</sup> | BMW US Capital LLC, 5.050%, 03/21/2030 | 25286 | 0.0 |
| 16000 | BorgWarner, Inc., 5.400%, 08/15/2034 | 16210 | 0.0 |
| 10296 | Delta Air Lines Pass Through Trust 2015-1, AA, 3.625%, 01/30/2029 | 10177 | 0.0 |
| 6417 <sup>(1)</sup> | Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.750%, 10/20/2028 | 6410 | 0.0 |
| 35000 | Ford Motor Co., 3.250%, 02/12/2032 | 30412 | 0.0 |
| 35000 | General Motors Co., 6.250%, 04/15/2035 | 36415 | 0.0 |
| 8000 | General Motors Co., 6.250%, 10/02/2043 | 7864 | 0.0 |
| 52000 | General Motors Financial Co., Inc., 2.350%, 01/08/2031 | 46344 | 0.1 |
| 57000 | General Motors Financial Co., Inc., 4.900%, 10/06/2029 | 57298 | 0.1 |
| 93000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 95166 | 0.1 |
| 49000 | General Motors Financial Co., Inc., 5.900%, 01/07/2035 | 49899 | 0.1 |
| 14000 | General Motors Financial Co., Inc., 6.100%, 01/07/2034 | 14549 | 0.0 |
| 39000 | General Motors Financial Co., Inc., 6.150%, 07/15/2035 | 40349 | 0.1 |
| 80000 | Honda Motor Co. Ltd., 4.688%, 07/08/2030 | 79424 | 0.1 |
| 43000 | Honda Motor Co. Ltd., 5.337%, 07/08/2035 | 42560 | 0.1 |
| 17000 | Hyatt Hotels Corp., 5.250%, 06/30/2029 | 17270 | 0.0 |
| 43000 <sup>(1)</sup> | Hyundai Capital America, 5.150%, 03/27/2030 | 43475 | 0.1 |
| 39000 <sup>(1)</sup> | Hyundai Capital America, 5.300%, 06/24/2029 | 39620 | 0.1 |
| 61000 <sup>(1)</sup> | Hyundai Capital America, 5.400%, 03/29/2032 | 62058 | 0.1 |
| 32000 <sup>(1)</sup> | Hyundai Capital America, 5.680%, 06/26/2028 | 32635 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** |
| 83000 <sup>(1)</sup> | Hyundai Capital America, 6.100%, 09/21/2028 | $85732 | 0.1 |
| 37000 <sup>(1)</sup> | Hyundai Capital America, 6.500%, 01/16/2029 | 38636 | 0.0 |
| 2000 | Lowe's Cos., Inc., 4.450%, 04/01/2062 | 1515 | 0.0 |
| 72000 | Lowe's Cos., Inc., 4.500%, 10/15/2032 | 70786 | 0.1 |
| 3000 | Lowe's Cos., Inc., 5.850%, 04/01/2063 | 2874 | 0.0 |
| 72000 | Marriott International, Inc., 4.500%, 10/15/2031 | 71190 | 0.1 |
| 65000 | Marriott International, Inc., 5.250%, 10/15/2035 | 64691 | 0.1 |
| 24000 | Marriott International, Inc., 5.350%, 03/15/2035 | 24166 | 0.0 |
| 30000 | Marriott International, Inc. HH, 2.850%, 04/15/2031 | 27480 | 0.0 |
| 73000 | Toyota Motor Corp., 4.450%, 06/30/2030 | 73090 | 0.1 |
| 34000 | Toyota Motor Credit Corp., 4.550%, 08/09/2029 | 34213 | 0.0 |
| 58000 | Toyota Motor Credit Corp., 4.800%, 05/15/2030 | 58666 | 0.1 |
| 24000 | Toyota Motor Credit Corp., 5.550%, 11/20/2030 | 25000 | 0.0 |
| 42000 | Toyota Motor Credit Corp., MTN, 4.350%, 10/08/2027 | 42141 | 0.1 |
| 5535 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 5631 | 0.0 |
| 49394 | United Airlines Pass Through Trust 2014-2, A, 3.750%, 03/03/2028 | 49284 | 0.1 |
| 34928 | United Airlines Pass Through Trust 2016-2, AA, 2.875%, 04/07/2030 | 33728 | 0.0 |
| 27000 <sup>(1)</sup> | United Airlines, Inc., 4.625%, 04/15/2029 | 26508 | 0.0 |
|  |  | **1719895** | **2.1** |
|  | **Consumer, Non-cyclical: 4.5%** |  |  |
| 35000 | Abbott Laboratories, 5.500%, 03/15/2056 | 34343 | 0.0 |
| 20000 | Abbott Laboratories, 5.600%, 03/15/2066 | 19510 | 0.0 |
| 16000 | AbbVie, Inc., 3.200%, 11/21/2029 | 15428 | 0.0 |
| 39000 | AbbVie, Inc., 4.500%, 05/14/2035 | 37734 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 22000 | AbbVie, Inc., 4.650%, 03/15/2028 | $22208 | 0.0 |
| 61000 | AbbVie, Inc., 4.950%, 03/15/2031 | 62327 | 0.1 |
| 42000 | AbbVie, Inc., 5.600%, 03/15/2055 | 41412 | 0.1 |
| 45000 | AbbVie, Inc., 5.650%, 03/15/2066 | 43857 | 0.1 |
| 16000 | Aetna, Inc., 6.625%, 06/15/2036 | 17252 | 0.0 |
| 32000 | Altria Group, Inc., 6.200%, 11/01/2028 | 33388 | 0.0 |
| 61000 | Astrazeneca Finance LLC, 4.900%, 02/26/2031 | 62326 | 0.1 |
| 46000 | Automatic Data Processing, Inc., 4.750%, 05/08/2032 | 46490 | 0.1 |
| 3000 | BAT Capital Corp., 3.557%, 08/15/2027 | 2968 | 0.0 |
| 45000 | BAT Capital Corp., 4.390%, 08/15/2037 | 40910 | 0.1 |
| 17000 | BAT Capital Corp., 5.834%, 02/20/2031 | 17796 | 0.0 |
| 9000 | BAT Capital Corp., 7.079%, 08/02/2043 | 9900 | 0.0 |
| 46000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 46240 | 0.1 |
| 26000 | Bristol-Myers Squibb Co., 5.100%, 02/22/2031 | 26733 | 0.0 |
| 42000 | Bristol-Myers Squibb Co., 5.550%, 02/22/2054 | 40470 | 0.1 |
| 37000 | Campbell Soup Co., 5.200%, 03/21/2029 | 37361 | 0.1 |
| 52000 | Cardinal Health, Inc., 4.700%, 11/15/2026 | 52099 | 0.1 |
| 7000 | Cardinal Health, Inc., 5.450%, 02/15/2034 | 7151 | 0.0 |
| 27000 <sup>(1)</sup> | Cargill, Inc., 1.700%, 02/02/2031 | 23752 | 0.0 |
| 23000 <sup>(1)</sup> | Cargill, Inc., 2.125%, 04/23/2030 | 20983 | 0.0 |
| 28000 | Cencora, Inc., 5.125%, 02/15/2034 | 28244 | 0.0 |
| 148000 | Centene Corp., 3.000%, 10/15/2030 | 129789 | 0.2 |
| 34000 | Centene Corp., 4.625%, 12/15/2029 | 32298 | 0.0 |
| 56000 | Cigna Group, 2.375%, 03/15/2031 | 50329 | 0.1 |
| 52000 | Cigna Group, 4.800%, 08/15/2038 | 48917 | 0.1 |
| 94000 | Cigna Group, 5.250%, 01/15/2036 | 94157 | 0.1 |
| 68000 | Cigna Group, 5.600%, 02/15/2054 | 64440 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 37000 | Coca-Cola Consolidated, Inc., 5.250%, 06/01/2029 | $37828 | 0.1 |
| 14000 | CVS Health Corp., 4.125%, 04/01/2040 | 11696 | 0.0 |
| 28000 | CVS Health Corp., 4.780%, 03/25/2038 | 25818 | 0.0 |
| 6000 | CVS Health Corp., 5.050%, 03/25/2048 | 5151 | 0.0 |
| 20000 | CVS Health Corp., 5.125%, 02/21/2030 | 20286 | 0.0 |
| 54000 | CVS Health Corp., 5.450%, 09/15/2035 | 54229 | 0.1 |
| 2000 | CVS Health Corp., 6.000%, 06/01/2063 | 1899 | 0.0 |
| 5000 | CVS Health Corp., 6.250%, 09/15/2065 | 4889 | 0.0 |
| 64000 <sup>(1)</sup> | Element Fleet Management Corp., 5.643%, 03/13/2027 | 64542 | 0.1 |
| 36000 | Elevance Health, Inc., 4.600%, 09/15/2032 | 35466 | 0.0 |
| 43000 | Elevance Health, Inc., 4.950%, 11/01/2031 | 43282 | 0.1 |
| 20000 | Elevance Health, Inc., 5.200%, 02/15/2035 | 19975 | 0.0 |
| 34000 | Eli Lilly & Co., 5.500%, 02/12/2055 | 33350 | 0.0 |
| 29000 | Equifax, Inc., 3.100%, 05/15/2030 | 27176 | 0.0 |
| 47000 | GlaxoSmithKline Capital, Inc., 4.875%, 04/15/2035 | 46836 | 0.1 |
| 12000 | HCA, Inc., 2.375%, 07/15/2031 | 10610 | 0.0 |
| 59000 | HCA, Inc., 3.500%, 09/01/2030 | 56047 | 0.1 |
| 89000 | HCA, Inc., 4.125%, 06/15/2029 | 87790 | 0.1 |
| 13000 | HCA, Inc., 4.375%, 03/15/2042 | 10944 | 0.0 |
| 60000 | HCA, Inc., 4.500%, 02/15/2027 | 60007 | 0.1 |
| 25000 | HCA, Inc., 5.125%, 06/15/2039 | 23574 | 0.0 |
| 35000 | HCA, Inc., 5.450%, 04/01/2031 | 35882 | 0.0 |
| 6000 | HCA, Inc., 6.100%, 04/01/2064 | 5798 | 0.0 |
| 52000 <sup>(1)</sup> | Health Care Service Corp. A Mutual Legal Reserve Co., 5.200%, 06/15/2029 | 52756 | 0.1 |
| 79000 | Hershey Co., 4.950%, 02/24/2032 | 80929 | 0.1 |
| 36000 | Humana, Inc., 5.375%, 04/15/2031 | 36397 | 0.1 |
| 18000 | Johnson & Johnson, 4.900%, 06/01/2031 | 18604 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 32000 | Kenvue, Inc., 4.850%, 05/22/2032 | $32354 | 0.0 |
| 22000 | Kenvue, Inc., 5.050%, 03/22/2028 | 22341 | 0.0 |
| 30000 | Kroger Co., 5.500%, 09/15/2054 | 27881 | 0.0 |
| 39000 | Kroger Co., 5.650%, 09/15/2064 | 36187 | 0.1 |
| 32000 | Laboratory Corp. of America Holdings, 4.550%, 04/01/2032 | 31620 | 0.0 |
| 25000 | Laboratory Corp. of America Holdings, 4.800%, 10/01/2034 | 24352 | 0.0 |
| 34000 <sup>(1)</sup> | Mars, Inc., 5.000%, 03/01/2032 | 34413 | 0.0 |
| 59000 <sup>(1)</sup> | Mars, Inc., 5.200%, 03/01/2035 | 59583 | 0.1 |
| 29000 <sup>(1)</sup> | Mars, Inc., 5.650%, 05/01/2045 | 28654 | 0.0 |
| 42000 <sup>(1)</sup> | Mars, Inc., 5.700%, 05/01/2055 | 40982 | 0.1 |
| 31000 | McKesson Corp., 4.250%, 09/15/2029 | 30927 | 0.0 |
| 49000 | McKesson Corp., 4.950%, 05/30/2032 | 49789 | 0.1 |
| 39000 | McKesson Corp., 5.250%, 05/30/2035 | 39758 | 0.1 |
| 39000 <sup>(1)</sup> | Medline Borrower L.P., 3.875%, 04/01/2029 | 37749 | 0.1 |
| 72000 | Merck & Co., Inc., 4.450%, 12/04/2032 | 71532 | 0.1 |
| 50000 | Novartis Capital Corp., 4.600%, 03/18/2033 | 49802 | 0.1 |
| 31000 | Novartis Capital Corp., 5.600%, 03/18/2046 | 31070 | 0.0 |
| 35000 | Novartis Capital Corp., 5.700%, 03/18/2056 | 35275 | 0.0 |
| 24000 | Pfizer Investment Enterprises Pte Ltd., 4.650%, 05/19/2030 | 24188 | 0.0 |
| 24000 | Pfizer Investment Enterprises Pte Ltd., 4.750%, 05/19/2033 | 23916 | 0.0 |
| 37000 | Philip Morris International, Inc., 4.750%, 11/01/2031 | 37182 | 0.1 |
| 43000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 43648 | 0.1 |
| 10000 | Quest Diagnostics, Inc., 2.800%, 06/30/2031 | 9136 | 0.0 |
| 10000 | Quest Diagnostics, Inc., 2.950%, 06/30/2030 | 9375 | 0.0 |
| 57000 | Quest Diagnostics, Inc., 4.625%, 12/15/2029 | 57420 | 0.1 |
| 17000 | Quest Diagnostics, Inc., 6.400%, 11/30/2033 | 18514 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** | **Consumer, Non-cyclical: (continued)** |
| 15000 | Reynolds American, Inc., 5.850%, 08/15/2045 | $14536 | 0.0 |
| 22000 | Royalty Pharma PLC, 1.750%, 09/02/2027 | 21215 | 0.0 |
| 53000 | Royalty Pharma PLC, 2.200%, 09/02/2030 | 47750 | 0.1 |
| 18000 | S&P Global, Inc., 1.250%, 08/15/2030 | 15700 | 0.0 |
| 43000 | S&P Global, Inc., 2.950%, 03/01/2029 | 41430 | 0.1 |
| 36000 | Solventum Corp., 5.450%, 03/13/2031 | 36945 | 0.1 |
| 21000 | Solventum Corp., 5.600%, 03/23/2034 | 21475 | 0.0 |
| 45000 | Stryker Corp., 4.850%, 02/10/2030 | 45623 | 0.1 |
| 30000 | Thermo Fisher Scientific, Inc., 4.550%, 06/15/2033 | 29652 | 0.0 |
| 50000 | Thermo Fisher Scientific, Inc., 4.977%, 08/10/2030 | 51108 | 0.1 |
| 25000 | Tyson Foods, Inc., 5.400%, 03/15/2029 | 25657 | 0.0 |
| 6000 | UnitedHealth Group, Inc., 2.750%, 05/15/2040 | 4367 | 0.0 |
| 15000 | UnitedHealth Group, Inc., 3.500%, 08/15/2039 | 12143 | 0.0 |
| 57000 | UnitedHealth Group, Inc., 4.950%, 01/15/2032 | 57653 | 0.1 |
| 20000 | UnitedHealth Group, Inc., 5.150%, 07/15/2034 | 20178 | 0.0 |
| 7000 | UnitedHealth Group, Inc., 5.500%, 04/15/2064 | 6415 | 0.0 |
| 31000 | UnitedHealth Group, Inc., 5.750%, 07/15/2064 | 29541 | 0.0 |
| 21000 | Universal Health Services, Inc., 4.625%, 10/15/2029 | 20761 | 0.0 |
| 36000 | Viatris, Inc., 2.700%, 06/22/2030 | 32626 | 0.0 |
| 21000 | Viatris, Inc., 4.000%, 06/22/2050 | 13775 | 0.0 |
| 22000 | Zimmer Biomet Holdings, Inc., 3.550%, 03/20/2030 | 21160 | 0.0 |
|  |  | **3599931** | **4.5** |
|  | **Energy: 1.9%** |  |  |
| 59000 | APA Corp., 6.750%, 02/15/2055 | 59184 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 13000 | BP Capital Markets America, Inc., 4.893%, 09/11/2033 | $13073 | 0.0 |
| 7000 | BP Capital Markets America, Inc., 4.989%, 04/10/2034 | 7051 | 0.0 |
| 37000 | BP Capital Markets America, Inc., 5.227%, 11/17/2034 | 37774 | 0.1 |
| 33000 <sup>(2)</sup> | BP Capital Markets PLC, 4.875%, 12/31/2199 | 32600 | 0.0 |
| 28000 | Canadian Natural Resources Ltd., 5.400%, 12/15/2034 | 28338 | 0.0 |
| 6000 | Cenovus Energy, Inc., 5.400%, 06/15/2047 | 5451 | 0.0 |
| 28000 | Cheniere Energy Partners L.P., 4.500%, 10/01/2029 | 27886 | 0.0 |
| 29000 <sup>(1)</sup> | Columbia Pipelines Holding Co. LLC, 5.097%, 10/01/2031 | 29179 | 0.0 |
| 46000 <sup>(1)</sup> | Columbia Pipelines Holding Co. LLC, 6.042%, 08/15/2028 | 47502 | 0.1 |
| 44000 | Devon Energy Corp., 5.200%, 09/15/2034 | 44127 | 0.1 |
| 14000 | Diamondback Energy, Inc., 4.250%, 03/15/2052 | 10845 | 0.0 |
| 10000 | Diamondback Energy, Inc., 5.900%, 04/18/2064 | 9471 | 0.0 |
| 56000 <sup>(2)</sup> | Enbridge (US) Inc. 20- A, 5.750%, 07/15/2080 | 55928 | 0.1 |
| 29000 | Energy Transfer L.P., 3.750%, 05/15/2030 | 28043 | 0.0 |
| 66000 | Energy Transfer L.P., 4.550%, 01/15/2031 | 65426 | 0.1 |
| 3000 | Energy Transfer L.P., 4.900%, 03/15/2035 | 2903 | 0.0 |
| 30000 | Energy Transfer L.P., 5.200%, 04/01/2030 | 30679 | 0.0 |
| 18000 | Energy Transfer L.P., 5.300%, 04/01/2044 | 16147 | 0.0 |
| 55000 | Energy Transfer L.P., 5.350%, 01/15/2036 | 54639 | 0.1 |
| 3000 | Energy Transfer L.P., 5.350%, 05/15/2045 | 2685 | 0.0 |
| 12000 | Energy Transfer L.P., 6.050%, 09/01/2054 | 11436 | 0.0 |
| 20000 | Energy Transfer L.P. 20Y, 5.800%, 06/15/2038 | 20280 | 0.0 |
| 28000 <sup>(2)</sup> | Enterprise Products Operating LLC D, 6.900%, (TSFR3M + 3.248%), 08/16/2077 | 27990 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 73000 | EOG Resources, Inc., 5.000%, 07/15/2032 | $73936 | 0.1 |
| 36000 | EOG Resources, Inc., 5.350%, 01/15/2036 | 36547 | 0.1 |
| 54000 | Hess Corp., 4.300%, 04/01/2027 | 54042 | 0.1 |
| 8000 | Kinder Morgan Energy Partners L.P., 5.000%, 03/01/2043 | 7178 | 0.0 |
| 52000 | Kinder Morgan, Inc., 5.300%, 12/01/2034 | 52429 | 0.1 |
| 41000 | Marathon Petroleum Corp., 5.125%, 12/15/2026 | 41141 | 0.1 |
| 36000 | MPLX L.P., 5.000%, 01/15/2033 | 35749 | 0.0 |
| 26000 | MPLX L.P., 5.300%, 04/01/2036 | 25638 | 0.0 |
| 21000 | Occidental Petroleum Corp., 5.375%, 01/01/2032 | 21327 | 0.0 |
| 13000 | Occidental Petroleum Corp., 6.050%, 10/01/2054 | 12650 | 0.0 |
| 24000 | Occidental Petroleum Corp., 6.200%, 03/15/2040 | 24529 | 0.0 |
| 7000 | Occidental Petroleum Corp., 6.600%, 03/15/2046 | 7256 | 0.0 |
| 10000 | ONEOK Partners L.P., 6.200%, 09/15/2043 | 10020 | 0.0 |
| 39000 <sup>(1)</sup> | ONEOK, Inc., 6.500%, 09/01/2030 | 41297 | 0.1 |
| 13000 | Ovintiv, Inc., 5.650%, 05/15/2028 | 13352 | 0.0 |
| 12000 | Sabine Pass Liquefaction LLC, 4.200%, 03/15/2028 | 11955 | 0.0 |
| 46000 | Sabine Pass Liquefaction LLC, 5.000%, 03/15/2027 | 46092 | 0.1 |
| 24000 <sup>(1)</sup> | Schlumberger Holdings Corp., 2.650%, 06/26/2030 | 22289 | 0.0 |
| 34000 <sup>(1)</sup> | Schlumberger Holdings Corp., 5.000%, 11/15/2029 | 34429 | 0.0 |
| 51000 | Targa Resources Corp., 5.400%, 07/30/2036 | 50649 | 0.1 |
| 10000 | Targa Resources Corp., 5.500%, 02/15/2035 | 10093 | 0.0 |
| 6000 | Targa Resources Corp., 6.250%, 07/01/2052 | 5998 | 0.0 |
| 36000 | Targa Resources Partners L.P. / Targa Resources Partners Finance Corp., 4.875%, 02/01/2031 | 35957 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Energy: (continued)** | **Energy: (continued)** | **Energy: (continued)** |
| 48000 <sup>(2)</sup> | TransCanada PipeLines Ltd., 7.000%, 06/01/2065 | $48765 | 0.1 |
| 12000 | Transcontinental Gas Pipe Line Co. LLC, 3.250%, 05/15/2030 | 11411 | 0.0 |
| 58000 | Viper Energy Partners LLC, 5.700%, 08/01/2035 | 58488 | 0.1 |
| 29000 | Western Midstream Operating L.P., 5.300%, 03/01/2048 | 24535 | 0.0 |
| 45000 | Western Midstream Operating L.P., 5.450%, 11/15/2034 | 44583 | 0.1 |
| 14000 | Williams Cos., Inc., 4.900%, 03/15/2029 | 14167 | 0.0 |
|  |  | **1545139** | **1.9** |
|  | **Financial: 9.1%** |  |  |
| 36000 | Air Lease Corp., MTN, 5.200%, 07/15/2031 | 36091 | 0.1 |
| 47000 <sup>(2)</sup> | American Express Co., 4.351%, 07/20/2029 | 46973 | 0.1 |
| 15000 <sup>(2)</sup> | American Express Co., 4.456%, 02/10/2032 | 14848 | 0.0 |
| 2000 <sup>(2)</sup> | American Express Co., 5.016%, 04/25/2031 | 2034 | 0.0 |
| 21000 <sup>(2)</sup> | American Express Co., 5.085%, 01/30/2031 | 21360 | 0.0 |
| 36000 <sup>(2)</sup> | American Express Co., 5.098%, 02/16/2028 | 36201 | 0.1 |
| 20000 <sup>(2)</sup> | American Express Co., 5.282%, 07/27/2029 | 20344 | 0.0 |
| 9000 | American Homes 4 Rent L.P., 3.625%, 04/15/2032 | 8313 | 0.0 |
| 16000 | American Homes 4 Rent L.P., 4.250%, 02/15/2028 | 15920 | 0.0 |
| 49000 | American Homes 4 Rent L.P., 5.500%, 02/01/2034 | 49473 | 0.1 |
| 44000 | American International Group, Inc., 3.400%, 06/30/2030 | 42002 | 0.1 |
| 30000 | American Tower Corp., 3.650%, 03/15/2027 | 29791 | 0.0 |
| 13000 | American Tower Corp., 5.250%, 07/15/2028 | 13228 | 0.0 |
| 10000 | American Tower Corp., 5.500%, 03/15/2028 | 10178 | 0.0 |
| 27000 | Ameriprise Financial, Inc., 5.700%, 12/15/2028 | 27918 | 0.0 |
| 16000 | Aon North America, Inc., 5.125%, 03/01/2027 | 16086 | 0.0 |
| 35000 | Aon North America, Inc., 5.150%, 03/01/2029 | 35756 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 32000 | Aon North America, Inc., 5.750%, 03/01/2054 | $30857 | 0.0 |
| 34000 | Arthur J Gallagher & Co., 5.550%, 02/15/2055 | 31762 | 0.0 |
| 91000 | Assurant, Inc., 5.550%, 02/15/2036 | 91282 | 0.1 |
| 64000 | Athene Holding Ltd., 6.250%, 04/01/2054 | 58790 | 0.1 |
| 46000 | Athene Holding Ltd., 6.625%, 05/19/2055 | 44363 | 0.1 |
| 79000 <sup>(2)</sup> | Bank of America Corp., 1.734%, 07/22/2027 | 78344 | 0.1 |
| 13000 <sup>(2)</sup> | Bank of America Corp., 2.299%, 07/21/2032 | 11480 | 0.0 |
| 46000 <sup>(2)</sup> | Bank of America Corp., 2.572%, 10/20/2032 | 40942 | 0.1 |
| 55000 <sup>(2)</sup> | Bank of America Corp., 2.592%, 04/29/2031 | 50825 | 0.1 |
| 32000 <sup>(2)</sup> | Bank of America Corp., 2.687%, 04/22/2032 | 29009 | 0.0 |
| 109000 <sup>(2)</sup> | Bank of America Corp., 3.419%, 12/20/2028 | 107117 | 0.1 |
| 35000 <sup>(2)</sup> | Bank of America Corp., 4.456%, 02/06/2032 | 34569 | 0.0 |
| 35000 <sup>(2)</sup> | Bank of America Corp., 5.045%, 02/06/2037 | 34548 | 0.0 |
| 25000 <sup>(2)</sup> | Bank of America Corp., 5.511%, 01/24/2036 | 25503 | 0.0 |
| 47000 <sup>(2)</sup> | Bank of America Corp., 5.518%, 10/25/2035 | 47015 | 0.1 |
| 42000 <sup>(2)</sup> | Bank of America Corp., 5.744%, 02/12/2036 | 42741 | 0.1 |
| 54000 <sup>(2)</sup> | Bank of America Corp., 5.872%, 09/15/2034 | 56564 | 0.1 |
| 44000 <sup>(2)</sup> | Bank of America Corp., GMTN, 3.593%, 07/21/2028 | 43538 | 0.1 |
| 52000 <sup>(2)</sup> | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 49482 | 0.1 |
| 19000 <sup>(2)</sup> | Bank of America Corp., MTN, 2.496%, 02/13/2031 | 17567 | 0.0 |
| 24000 <sup>(2)</sup> | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 23637 | 0.0 |
| 93000 <sup>(2)</sup> | Bank of America Corp., MTN, 2.884%, 10/22/2030 | 87983 | 0.1 |
| 74000 <sup>(2)</sup> | Bank of America Corp., MTN, 2.972%, 02/04/2033 | 67005 | 0.1 |
| 9000 <sup>(2)</sup> | Bank of America Corp., MTN, 3.970%, 03/05/2029 | 8921 | 0.0 |
| 84000 <sup>(2)</sup> | Bank of Montreal, 4.640%, 09/10/2030 | 84185 | 0.1 |
| 78000 <sup>(2)</sup> | Bank of Nova Scotia, 4.740%, 11/10/2032 | 77892 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 17000 <sup>(1)</sup> | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | $15937 | 0.0 |
| 46000 <sup>(1)</sup> | Blackstone Holdings Finance Co. LLC, 2.000%, 01/30/2032 | 39045 | 0.1 |
| 7000 <sup>(1)</sup> | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 6494 | 0.0 |
| 51000 | Brown & Brown, Inc., 4.900%, 06/23/2030 | 50966 | 0.1 |
| 38000 | Camden Property Trust, 5.850%, 11/03/2026 | 38298 | 0.1 |
| 35000 <sup>(2)</sup> | Capital One Financial Corp., 1.878%, 11/02/2027 | 34425 | 0.0 |
| 19000 <sup>(2)</sup> | Charles Schwab Corp., 6.196%, 11/17/2029 | 19863 | 0.0 |
| 61000 | Chubb INA Holdings LLC, 4.900%, 08/15/2035 | 60087 | 0.1 |
| 72000 | CME Group, Inc., 4.400%, 03/15/2030 | 72248 | 0.1 |
| 52000 <sup>(1)</sup> | CNO Global Funding, 5.875%, 06/04/2027 | 52730 | 0.1 |
| 15000 | Corebridge Financial, Inc., 3.900%, 04/05/2032 | 14078 | 0.0 |
| 34000 | Corebridge Financial, Inc., 6.050%, 09/15/2033 | 35607 | 0.0 |
| 21000 | Crown Castle, Inc., 2.100%, 04/01/2031 | 18302 | 0.0 |
| 3000 | Crown Castle, Inc., 2.500%, 07/15/2031 | 2644 | 0.0 |
| 27000 | Crown Castle, Inc., 2.900%, 03/15/2027 | 26604 | 0.0 |
| 29000 | Crown Castle, Inc., 3.300%, 07/01/2030 | 27182 | 0.0 |
| 47000 | Crown Castle, Inc., 4.800%, 09/01/2028 | 47259 | 0.1 |
| 57000 | Crown Castle, Inc., 4.900%, 09/01/2029 | 57334 | 0.1 |
| 8000 | Crown Castle, Inc., 5.100%, 05/01/2033 | 7891 | 0.0 |
| 24000 | Crown Castle, Inc., 5.600%, 06/01/2029 | 24574 | 0.0 |
| 14000 | Crown Castle, Inc., 5.800%, 03/01/2034 | 14345 | 0.0 |
| 38000 | CubeSmart L.P., 2.250%, 12/15/2028 | 35879 | 0.0 |
| 74000 <sup>(1)</sup> | Equitable Financial Life Global Funding, 5.000%, 03/27/2030 | 74642 | 0.1 |
| 24000 | Extra Space Storage L.P., 3.900%, 04/01/2029 | 23508 | 0.0 |
| 17000 | Extra Space Storage L.P., 4.000%, 06/15/2029 | 16740 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 22000 | Extra Space Storage L.P., 5.350%, 01/15/2035 | $22134 | 0.0 |
| 47000 <sup>(2)</sup> | Fifth Third Bancorp, 5.141%, 01/29/2037 | 45804 | 0.1 |
| 72000 | First Industrial L.P., 5.250%, 01/15/2031 | 72789 | 0.1 |
| 34000 <sup>(1)</sup> | Gabx Leasing LLC, 5.300%, 04/15/2036 | 33389 | 0.0 |
| 93000 | GLP Capital L.P. / GLP Financing II, Inc., 5.250%, 02/15/2033 | 91246 | 0.1 |
| 10000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 4.516%, 01/21/2032 | 9851 | 0.0 |
| 52000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 5.065%, 01/21/2037 | 50858 | 0.1 |
| 23000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 5.330%, 07/23/2035 | 23086 | 0.0 |
| 32000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 5.536%, 01/28/2036 | 32541 | 0.0 |
| 21000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 21669 | 0.0 |
| 40000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 5.734%, 01/28/2056 | 39080 | 0.1 |
| 1000 <sup>(2)</sup> | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 1046 | 0.0 |
| 69000 <sup>(1)(2)</sup> | Hartford Financial Services Group, Inc. ICON, 6.039%, (TSFR3M + 2.387%), 02/12/2067 | 66221 | 0.1 |
| 144000 <sup>(2)</sup> | Huntington Bancshares, Inc., 5.605%, 01/28/2041 | 140598 | 0.2 |
| 53000 | Intercontinental Exchange, Inc., 2.100%, 06/15/2030 | 48201 | 0.1 |
| 44000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 43354 | 0.1 |
| 34000 | Invitation Homes Operating Partnership L.P., 2.000%, 08/15/2031 | 29117 | 0.0 |
| 59000 | Invitation Homes Operating Partnership L.P., 2.300%, 11/15/2028 | 55542 | 0.1 |
| 21000 | Invitation Homes Operating Partnership L.P., 5.500%, 08/15/2033 | 21036 | 0.0 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 37000 <sup>(2)</sup> | JPMorgan Chase & Co., 1.470%, 09/22/2027 | $36497 | 0.1 |
| 90000 <sup>(2)</sup> | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 89856 | 0.1 |
| 20000 <sup>(2)</sup> | JPMorgan Chase & Co., 1.953%, 02/04/2032 | 17615 | 0.0 |
| 53000 <sup>(2)</sup> | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 50437 | 0.1 |
| 22000 <sup>(2)</sup> | JPMorgan Chase & Co., 2.182%, 06/01/2028 | 21450 | 0.0 |
| 14000 <sup>(2)</sup> | JPMorgan Chase & Co., 2.739%, 10/15/2030 | 13189 | 0.0 |
| 68000 <sup>(2)</sup> | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 67154 | 0.1 |
| 14000 <sup>(2)</sup> | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 13779 | 0.0 |
| 78000 <sup>(2)</sup> | JPMorgan Chase & Co., 4.452%, 12/05/2029 | 78108 | 0.1 |
| 45000 <sup>(2)</sup> | JPMorgan Chase & Co., 4.603%, 10/22/2030 | 45104 | 0.1 |
| 107000 <sup>(2)</sup> | JPMorgan Chase & Co., 4.810%, 10/22/2036 | 103933 | 0.1 |
| 68000 <sup>(2)</sup> | JPMorgan Chase & Co., 4.898%, 01/22/2037 | 66564 | 0.1 |
| 32000 <sup>(2)</sup> | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 32473 | 0.0 |
| 13000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 13184 | 0.0 |
| 129000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.193%, 02/05/2037 | 126812 | 0.2 |
| 29000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 29360 | 0.0 |
| 49000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.572%, 04/22/2036 | 50513 | 0.1 |
| 29000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.581%, 04/22/2030 | 29893 | 0.0 |
| 21000 <sup>(2)</sup> | JPMorgan Chase & Co., 5.766%, 04/22/2035 | 21880 | 0.0 |
| 14000 | Kite Realty Group L.P., 4.000%, 10/01/2026 | 13963 | 0.0 |
| 40000 <sup>(1)</sup> | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 38793 | 0.1 |
| 57000 | LPL Holdings, Inc., 5.150%, 06/15/2030 | 57312 | 0.1 |
| 45000 | LPL Holdings, Inc., 5.200%, 03/15/2030 | 45352 | 0.1 |
| 28000 | LPL Holdings, Inc., 5.700%, 05/20/2027 | 28265 | 0.0 |
| 208000 <sup>(2)</sup> | M&T Bank Corp., 5.400%, 07/30/2035 | 207393 | 0.3 |
| 38000 | Main Street Capital Corp., 6.950%, 03/01/2029 | 39109 | 0.1 |
| 26000 | Mid-America Apartments L.P., 5.300%, 02/15/2032 | 26738 | 0.0 |
| 42000 <sup>(2)</sup> | Morgan Stanley, 1.593%, 05/04/2027 | 41884 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 81000 <sup>(2)</sup> | Morgan Stanley, 2.475%, 01/21/2028 | $79741 | 0.1 |
| 25000 <sup>(2)</sup> | Morgan Stanley, 2.484%, 09/16/2036 | 21519 | 0.0 |
| 18000 <sup>(2)</sup> | Morgan Stanley, 3.591%, 07/22/2028 | 17792 | 0.0 |
| 17000 <sup>(2)</sup> | Morgan Stanley, 4.457%, 04/22/2039 | 15595 | 0.0 |
| 23000 <sup>(2)</sup> | Morgan Stanley, 5.042%, 07/19/2030 | 23271 | 0.0 |
| 211000 <sup>(2)</sup> | Morgan Stanley, 5.073%, 01/30/2037 | 206800 | 0.3 |
| 15000 <sup>(2)</sup> | Morgan Stanley, 5.173%, 01/16/2030 | 15213 | 0.0 |
| 59000 <sup>(2)</sup> | Morgan Stanley, 5.664%, 04/17/2036 | 60453 | 0.1 |
| 27000 <sup>(2)</sup> | Morgan Stanley, 6.296%, 10/18/2028 | 27714 | 0.0 |
| 118000 <sup>(2)</sup> | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 116929 | 0.2 |
| 10000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 9966 | 0.0 |
| 25000 <sup>(2)</sup> | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 25292 | 0.0 |
| 16000 <sup>(2)</sup> | Morgan Stanley I, 4.133%, 10/18/2029 | 15818 | 0.0 |
| 46000 | NNN REIT, Inc., 4.600%, 02/15/2031 | 45745 | 0.1 |
| 145000 <sup>(2)</sup> | Northern Trust Corp., 5.117%, 11/19/2040 | 141244 | 0.2 |
| 28000 <sup>(1)</sup> | Northwestern Mutual Life Insurance Co., 6.170%, 05/29/2055 | 28787 | 0.0 |
| 35000 <sup>(1)</sup> | Nuveen LLC, 5.550%, 01/15/2030 | 35916 | 0.1 |
| 41000 | Omega Healthcare Investors, Inc., 5.200%, 07/01/2030 | 41183 | 0.1 |
| 14000 | Piedmont Operating Partnership L.P., 2.750%, 04/01/2032 | 11770 | 0.0 |
| 2000 <sup>(2)</sup> | PNC Financial Services Group, Inc., 5.373%, 07/21/2036 | 2010 | 0.0 |
| 37000 <sup>(2)</sup> | PNC Financial Services Group, Inc., 5.423%, 01/25/2041 | 36263 | 0.1 |
| 38000 <sup>(2)</sup> | PNC Financial Services Group, Inc., 6.037%, 10/28/2033 | 40210 | 0.1 |
| 53000 <sup>(1)</sup> | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 54030 | 0.1 |
| 12000 <sup>(1)</sup> | Prologis Targeted US Logistics Fund L.P., 5.500%, 04/01/2034 | 12198 | 0.0 |
| 96000 | Raymond James Financial, Inc., 5.650%, 09/11/2055 | 90960 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series CB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 8000 | Realty Income Corp., 3.950%, 08/15/2027 | $7963 | 0.0 |
| 96000 | Rexford Industrial Realty L.P., 2.150%, 09/01/2031 | 83296 | 0.1 |
| 10000 <sup>(1)</sup> | RGA Global Funding, 5.448%, 05/24/2029 | 10247 | 0.0 |
| 26000 | RLI Corp., 5.375%, 06/01/2036 | 25043 | 0.0 |
| 37000 <sup>(2)</sup> | Royal Bank of Canada, 4.696%, 08/06/2031 | 36932 | 0.1 |
| 53000 <sup>(2)</sup> | Royal Bank of Canada, GMTN, 4.650%, 10/18/2030 | 53143 | 0.1 |
| 28000 <sup>(2)</sup> | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 28361 | 0.0 |
| 33000 <sup>(2)</sup> | Royal Bank of Canada, GMTN, 5.153%, 02/04/2031 | 33550 | 0.0 |
| 19000 | Sabra Health Care L.P., 3.200%, 12/01/2031 | 17164 | 0.0 |
| 98000 <sup>(2)</sup> | State Street Corp., 3.031%, 11/01/2034 | 92278 | 0.1 |
| 50000 <sup>(2)</sup> | State Street Corp., 4.675%, 10/22/2032 | 49968 | 0.1 |
| 27000 | State Street Corp., 4.729%, 02/28/2030 | 27335 | 0.0 |
| 43000 <sup>(2)</sup> | Sumitomo Mitsui Financial Group, Inc., 5.334%, 03/03/2041 | 41720 | 0.1 |
| 22000 <sup>(1)</sup> | Symetra Life Insurance Co., 6.550%, 10/01/2055 | 22066 | 0.0 |
| 43000 | Toronto-Dominion Bank, 5.298%, 01/30/2032 | 44222 | 0.1 |
| 40000 | TPG Operating Group II L.P., 4.875%, 05/15/2031 | 39251 | 0.1 |
| 56000 <sup>(2)</sup> | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 57327 | 0.1 |
| 29000 <sup>(2)</sup> | Truist Financial Corp., MTN, 5.867%, 06/08/2034 | 30229 | 0.0 |
| 17000 <sup>(2)</sup> | Truist Financial Corp., MTN, 6.123%, 10/28/2033 | 18006 | 0.0 |
| 113000 <sup>(2)</sup> | Wells Fargo & Co., 4.960%, 01/23/2037 | 110120 | 0.1 |
| 110000 <sup>(2)</sup> | Wells Fargo & Co., 5.433%, 01/23/2047 | 104309 | 0.1 |
| 6000 <sup>(2)</sup> | Wells Fargo & Co., 5.499%, 01/23/2035 | 6110 | 0.0 |
| 98000 <sup>(2)</sup> | Wells Fargo & Co., 5.605%, 04/23/2036 | 100322 | 0.1 |
| 8000 <sup>(2)</sup> | Wells Fargo & Co., 6.491%, 10/23/2034 | 8665 | 0.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal <br> Amount†** | | **Value** | **Percentage<br> of Net<br> Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** | **Financial: (continued)** | **Financial: (continued)** |
| 24000 <sup>(2)</sup> | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 | $23778 | 0.0 |
| 44000 <sup>(2)</sup> | Wells Fargo & Co. GG, 6.125%, 12/31/2199 | 44177 | 0.1 |
| 6000 | Weyerhaeuser Co., 4.750%, 05/15/2026 | 6002 | 0.0 |
| 109000 <sup>(1)</sup> | Wynnton Funding Trust, 5.251%, 08/15/2035 | 107204 | 0.1 |
| 115000 <sup>(1)</sup> | Wynnton Funding Trust II, 5.991%, 08/15/2055 | 113742 | 0.1 |
|  |  | **7292240** | **9.1** |
|  | **Industrial: 2.2%** |  |  |
| 28000 | 3M Co., 5.150%, 03/15/2035 | 28199 | 0.0 |
| 30000 | AGCO Corp., 5.450%, 03/21/2027 | 30210 | 0.0 |
| 19000 | Amcor Group Finance PLC, 5.450%, 05/23/2029 | 19473 | 0.0 |
| 57000 | Arrow Electronics, Inc., 5.150%, 08/21/2029 | 57641 | 0.1 |
| 47000 | Berry Global, Inc., 1.650%, 01/15/2027 | 46027 | 0.1 |
| 18000 | Boeing Co., 5.930%, 05/01/2060 | 17293 | 0.0 |
| 5000 | Boeing Co., 6.858%, 05/01/2054 | 5507 | 0.0 |
| 31000 | Boeing Co., 7.008%, 05/01/2064 | 34303 | 0.1 |
| 89000 | Canadian National Railway Co., 4.200%, 03/12/2031 | 87810 | 0.1 |
| 19000 | Canadian Pacific Railway Co., 2.875%, 11/15/2029 | 18051 | 0.0 |
| 8000 | Carrier Global Corp., 2.722%, 02/15/2030 | 7474 | 0.0 |
| 27000 | Caterpillar Financial Services Corp., 4.700%, 11/15/2029 | 27382 | 0.0 |
| 51000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | 51627 | 0.1 |
| 49000 | CNH Industrial Capital LLC, 5.500%, 01/12/2029 | 50242 | 0.1 |
| 3000 | FedEx Corp., 4.550%, 04/01/2046 | 2506 | 0.0 |
| 21883 | FedEx Corp. Class AA Pass Through Trust 20-1, AA, 1.875%, 08/20/2035 | 18887 | 0.0 |
| 57000 | Flex Ltd., 5.250%, 01/15/2032 | 57366 | 0.1 |
| 29000 | Fortune Brands Innovations, Inc., 3.250%, 09/15/2029 | 27661 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (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)** |  |  |
| 17000 | Fortune Brands Innovations, Inc., 4.000%, 03/25/2032 | $16014 | 0.0 |
| 16000 | GATX Corp., 4.000%, 06/30/2030 | 15584 | 0.0 |
| 9000 | GATX Corp., 6.050%, 06/05/2054 | 8944 | 0.0 |
| 14000 | GXO Logistics, Inc., 6.250%, 05/06/2029 | 14525 | 0.0 |
| 51000 | HEICO Corp., 5.250%, 08/01/2028 | 51992 | 0.1 |
| 38000 <sup>(1)</sup> | Honeywell Aerospace, Inc., 5.732%, 03/16/2056 | 37588 | 0.1 |
| 5000 | Honeywell International, Inc., 4.750%, 02/01/2032 | 5013 | 0.0 |
| 29000 | Huntington Ingalls Industries, Inc., 4.200%, 05/01/2030 | 28463 | 0.0 |
| 15000 | Ingersoll Rand, Inc., 5.176%, 06/15/2029 | 15360 | 0.0 |
| 17000 | Ingersoll Rand, Inc., 5.400%, 08/14/2028 | 17396 | 0.0 |
| 9000 | Ingersoll Rand, Inc., 5.450%, 06/15/2034 | 9193 | 0.0 |
| 20000 | Jacobs Solutions, Inc., 4.750%, 03/03/2031 | 19728 | 0.0 |
| 20000 | Jacobs Solutions, Inc., 5.375%, 03/03/2036 | 19518 | 0.0 |
| 43000 | John Deere Capital Corp., 4.400%, 09/08/2031 | 42962 | 0.1 |
| 79000 | John Deere Capital Corp., MTN, 4.700%, 06/10/2030 | 80082 | 0.1 |
| 34000 | John Deere Capital Corp., MTN, 4.850%, 06/11/2029 | 34634 | 0.1 |
| 62000 | John Deere Capital Corp., MTN, 4.900%, 03/07/2031 | 63318 | 0.1 |
| 27000 | L3Harris Technologies, Inc., 5.050%, 06/01/2029 | 27477 | 0.0 |
| 9000 | Mohawk Industries, Inc., 5.850%, 09/18/2028 | 9266 | 0.0 |
| 4000 | Norfolk Southern Corp., 5.050%, 08/01/2030 | 4088 | 0.0 |
| 12000 | Norfolk Southern Corp., 5.550%, 03/15/2034 | 12444 | 0.0 |
| 2000 | Norfolk Southern Corp., 5.950%, 03/15/2064 | 1982 | 0.0 |
| 52000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.700%, 06/15/2026 | 51712 | 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)** |  |  |
| 63000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 07/01/2029 | $63935 | 0.1 |
| 50000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 02/01/2030 | 50771 | 0.1 |
| 93000 <sup>(1)</sup> | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 94614 | 0.1 |
| 26000 | Raytheon Technologies Corp., 4.450%, 11/16/2038 | 24034 | 0.0 |
| 44000 | Ryder System, Inc., 5.000%, 03/15/2030 | 44529 | 0.1 |
| 22000 | Ryder System, Inc., 6.600%, 12/01/2033 | 24117 | 0.0 |
| 27000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 27360 | 0.0 |
| 27000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 27437 | 0.0 |
| 5000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 5118 | 0.0 |
| 36000 | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | 37029 | 0.1 |
| 39000 <sup>(1)</sup> | Sealed Air Corp., 1.573%, 10/15/2026 | 38930 | 0.1 |
| 29000 | Sonoco Products Co., 4.600%, 09/01/2029 | 28927 | 0.0 |
| 30000 | Vertiv Holdings Co., 5.650%, 03/15/2046 | 28634 | 0.0 |
| 34000 | Waste Connections, Inc., 4.800%, 07/15/2036 | 33325 | 0.1 |
| 29000 | Westinghouse Air Brake Technologies Corp., 4.700%, 09/15/2028 | 29090 | 0.0 |
| 45000 <sup>(1)</sup> | WSP Global, Inc., 5.039%, 09/18/2031 | 44643 | 0.1 |
|  |  | **1777435** | **2.2** |
|  | **Technology: 3.3%** |  |  |
| 106000 | Accenture Capital, Inc., 4.250%, 10/04/2031 | 104794 | 0.1 |
| 61000 | Adobe, Inc., 4.950%, 01/17/2030 | 62293 | 0.1 |
| 51000 <sup>(1)</sup> | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 | 49703 | 0.1 |
| 66000 | Broadcom, Inc., 2.450%, 02/15/2031 | 59956 | 0.1 |
| 65000 <sup>(1)</sup> | Broadcom, Inc., 3.187%, 11/15/2036 | 54350 | 0.1 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (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: (continued)** |  |  |
| 36000 | Broadcom, Inc., 4.800%, 10/15/2034 | $35471 | 0.1 |
| 51000 | Broadcom, Inc., 4.900%, 07/15/2032 | 51465 | 0.1 |
| 93000 <sup>(1)</sup> | Broadcom, Inc., 4.926%, 05/15/2037 | 90264 | 0.1 |
| 31000 | Broadcom, Inc., 5.050%, 04/15/2030 | 31605 | 0.0 |
| 29000 | Broadcom, Inc., 5.150%, 11/15/2031 | 29757 | 0.0 |
| 15000 | Broadcom, Inc., 5.200%, 04/15/2032 | 15360 | 0.0 |
| 44000 | Cadence Design Systems, Inc., 4.300%, 09/10/2029 | 43870 | 0.1 |
| 28000 | CDW LLC / CDW Finance Corp., 5.100%, 03/01/2030 | 27966 | 0.0 |
| 37000 <sup>(1)</sup> | Constellation Software, Inc./Canada, 5.158%, 02/16/2029 | 37174 | 0.1 |
| 38000 | Fiserv, Inc., 5.150%, 03/15/2027 | 38193 | 0.1 |
| 16000 | Fiserv, Inc., 5.150%, 08/12/2034 | 15549 | 0.0 |
| 61000 | Hewlett Packard Enterprise Co., 4.850%, 10/15/2031 | 60603 | 0.1 |
| 45000 | Hewlett Packard Enterprise Co., 5.600%, 10/15/2054 | 40202 | 0.1 |
| 29000 | HP, Inc., 2.650%, 06/17/2031 | 25802 | 0.0 |
| 3000 | Intel Corp., 5.600%, 02/21/2054 | 2754 | 0.0 |
| 22000 | Intel Corp., 5.700%, 02/10/2053 | 20274 | 0.0 |
| 110000 | International Business Machines Corp., 4.800%, 02/10/2030 | 111243 | 0.1 |
| 102000 | International Business Machines Corp., 4.950%, 02/03/2036 | 99398 | 0.1 |
| 100000 | International Business Machines Corp., 5.800%, 02/03/2056 | 95675 | 0.1 |
| 25000 | Intuit, Inc., 5.200%, 09/15/2033 | 25443 | 0.0 |
| 90000 | Intuit, Inc., 5.500%, 09/15/2053 | 82851 | 0.1 |
| 29000 | Kyndryl Holdings, Inc., 2.700%, 10/15/2028 | 26831 | 0.0 |
| 24000 | Marvell Technology, Inc., 5.750%, 02/15/2029 | 24783 | 0.0 |
| 30000 | Micron Technology, Inc., 3.366%, 11/01/2041 | 23303 | 0.0 |
| 38000 | Micron Technology, Inc., 5.800%, 01/15/2035 | 40474 | 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)** |
|  | **Technology: (continued)** |  |  |
| 119000 | Micron Technology, Inc., 6.050%, 11/01/2035 | $128458 | 0.2 |
| 61000 <sup>(1)</sup> | MSCI, Inc., 3.625%, 09/01/2030 | 57687 | 0.1 |
| 42000 | MSCI, Inc., 5.150%, 03/15/2036 | 40702 | 0.1 |
| 31000 | NetApp, Inc., 5.500%, 03/17/2032 | 31750 | 0.0 |
| 25000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 4.300%, 06/18/2029 | 24787 | 0.0 |
| 69000 | Oracle Corp., 2.300%, 03/25/2028 | 65753 | 0.1 |
| 30000 | Oracle Corp., 2.950%, 04/01/2030 | 27393 | 0.0 |
| 35000 | Oracle Corp., 3.800%, 11/15/2037 | 27813 | 0.0 |
| 2000 | Oracle Corp., 3.850%, 07/15/2036 | 1658 | 0.0 |
| 6000 | Oracle Corp., 3.850%, 04/01/2060 | 3535 | 0.0 |
| 40000 | Oracle Corp., 4.950%, 02/04/2031 | 39151 | 0.1 |
| 31000 | Oracle Corp., 5.200%, 09/26/2035 | 29093 | 0.0 |
| 60000 | Oracle Corp., 5.350%, 05/04/2033 | 58430 | 0.1 |
| 63000 | Oracle Corp., 5.375%, 09/27/2054 | 48886 | 0.1 |
| 25000 | Oracle Corp., 5.500%, 09/27/2064 | 19164 | 0.0 |
| 37000 | Oracle Corp., 5.875%, 09/26/2045 | 31945 | 0.0 |
| 122000 | Oracle Corp., 5.950%, 09/26/2055 | 102711 | 0.1 |
| 51000 | Oracle Corp., 6.000%, 08/03/2055 | 42798 | 0.1 |
| 46000 | Oracle Corp., 6.100%, 09/26/2065 | 38170 | 0.1 |
| 21000 | Oracle Corp., 6.125%, 08/03/2065 | 17482 | 0.0 |
| 18000 | Oracle Corp., 6.550%, 02/04/2046 | 16805 | 0.0 |
| 18000 | Oracle Corp., 6.850%, 02/04/2066 | 16564 | 0.0 |
| 31000 | Qualcomm, Inc., 4.750%, 05/20/2032 | 31180 | 0.0 |
| 38000 | Salesforce, Inc., 4.900%, 09/15/2031 | 37955 | 0.1 |
| 44000 | Salesforce, Inc., 5.200%, 03/15/2033 | 43938 | 0.1 |
| 35000 | Salesforce, Inc., 5.550%, 03/15/2036 | 34904 | 0.1 |
| 31000 | Salesforce, Inc., 6.400%, 03/15/2046 | 31234 | 0.0 |
| 42000 | Salesforce, Inc., 6.550%, 03/15/2056 | 42174 | 0.1 |
| 30000 | Synopsys, Inc., 5.000%, 04/01/2032 | 30270 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (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: (continued)** |  |  |
| 27000 | Take-Two Interactive Software, Inc., 5.400%, 06/12/2029 | $27598 | 0.0 |
| 29000 | Teledyne FLIR LLC, 2.500%, 08/01/2030 | 26700 | 0.0 |
|  |  | **2604094** | **3.3** |
|  | **Utilities: 3.8%** |  |  |
| 52000 | AEP Texas, Inc., 5.450%, 05/15/2029 | 53340 | 0.1 |
| 19000 | AEP Transmission Co. LLC, 5.150%, 04/01/2034 | 19155 | 0.0 |
| 51000 | AES Corp., 5.800%, 03/15/2032 | 51311 | 0.1 |
| 14000 | Alabama Power Co., 5.850%, 11/15/2033 | 14829 | 0.0 |
| 27000 <sup>(2)</sup> | Algonquin Power & Utilities Corp., 5.365%, 06/15/2026 | 27024 | 0.0 |
| 26000 | Ameren Corp., 1.750%, 03/15/2028 | 24735 | 0.0 |
| 21000 | Ameren Corp., 5.000%, 01/15/2029 | 21336 | 0.0 |
| 29000 <sup>(1)</sup> | American Transmission Systems, Inc., 2.650%, 01/15/2032 | 25998 | 0.0 |
| 27000 | Avangrid, Inc., 3.800%, 06/01/2029 | 26360 | 0.0 |
| 23000 | Black Hills Corp., 3.050%, 10/15/2029 | 21875 | 0.0 |
| 145000 | Black Hills Corp., 4.550%, 01/31/2031 | 143517 | 0.2 |
| 14000 | Black Hills Corp., 6.000%, 01/15/2035 | 14540 | 0.0 |
| 24000 <sup>(1)</sup> | Boston Gas Co., 5.843%, 01/10/2035 | 25184 | 0.0 |
| 23000 | CenterPoint Energy, Inc., 5.400%, 06/01/2029 | 23581 | 0.0 |
| 23000 <sup>(1)</sup> | Cleveland Electric Illuminating Co., 3.500%, 04/01/2028 | 22537 | 0.0 |
| 16000 <sup>(2)</sup> | CMS Energy Corp., 3.750%, 12/01/2050 | 14606 | 0.0 |
| 60000 <sup>(2)</sup> | CMS Energy Corp., 4.750%, 06/01/2050 | 58234 | 0.1 |
| 5000 | Consolidated Edison Co. of New York, Inc. 05-A, 5.300%, 03/01/2035 | 5082 | 0.0 |
| 16000 | DTE Energy Co., 4.950%, 07/01/2027 | 16107 | 0.0 |
| 44000 | DTE Energy Co., 5.200%, 04/01/2030 | 44890 | 0.1 |
| 14000 | Duke Energy Carolinas LLC, 2.550%, 04/15/2031 | 12812 | 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)** |  |  |
| 36000 | Duke Energy Florida LLC, 2.400%, 12/15/2031 | $32191 | 0.0 |
| 10000 | Duke Energy Florida LLC, 5.875%, 11/15/2033 | 10621 | 0.0 |
| 17000 | Duke Energy Ohio, Inc., 2.125%, 06/01/2030 | 15478 | 0.0 |
| 17000 <sup>(1)</sup> | Duquesne Light Holdings, Inc., 2.532%, 10/01/2030 | 15485 | 0.0 |
| 40000 | Entergy Arkansas LLC, 5.750%, 01/15/2056 | 39249 | 0.1 |
| 24000 | Entergy Corp., 2.400%, 06/15/2031 | 21325 | 0.0 |
| 14000 | Entergy Corp., 2.800%, 06/15/2030 | 13024 | 0.0 |
| 22000 | Entergy Mississippi LLC, 5.000%, 09/01/2033 | 22096 | 0.0 |
| 23000 | Entergy Texas, Inc., 4.000%, 03/30/2029 | 22809 | 0.0 |
| 51000 | Essential Utilities, Inc., 2.704%, 04/15/2030 | 47356 | 0.1 |
| 14000 | Essential Utilities, Inc., 5.375%, 01/15/2034 | 14199 | 0.0 |
| 22000 | Evergy Kansas Central, Inc., 5.250%, 03/15/2035 | 22186 | 0.0 |
| 9000 | Evergy Kansas Central, Inc., 5.900%, 11/15/2033 | 9552 | 0.0 |
| 23000 | Evergy Metro, Inc. 2020, 2.250%, 06/01/2030 | 21038 | 0.0 |
| 29000 | Eversource Energy, 2.550%, 03/15/2031 | 26178 | 0.0 |
| 53000 | Eversource Energy, 2.900%, 03/01/2027 | 52328 | 0.1 |
| 15000 | Eversource Energy, 5.125%, 05/15/2033 | 14958 | 0.0 |
| 32000 | Eversource Energy, 5.450%, 03/01/2028 | 32530 | 0.0 |
| 17000 | Eversource Energy, 5.500%, 01/01/2034 | 17247 | 0.0 |
| 32000 | Eversource Energy, 5.950%, 02/01/2029 | 33161 | 0.1 |
| 29000 | Eversource Energy U, 1.400%, 08/15/2026 | 28680 | 0.0 |
| 52000 | Exelon Corp., 5.150%, 03/15/2028 | 52633 | 0.1 |
| 23000 | Exelon Corp., 5.150%, 03/15/2029 | 23446 | 0.0 |
| 39000 | FirstEnergy Corp. B, 3.900%, 07/15/2027 | 38692 | 0.1 |
| 21000 | Florida Power & Light Co., 4.625%, 05/15/2030 | 21219 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (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)** |
|  | **Utilities: (continued)** |  |  |
| 24000 | Florida Power & Light Co., 5.300%, 06/15/2034 | $24685 | 0.0 |
| 17000 | Georgia Power Co., 4.650%, 05/16/2028 | 17140 | 0.0 |
| 28000 | Idaho Power Co., 4.850%, 03/01/2036 | 27417 | 0.0 |
| 24000 | IPALCO Enterprises, Inc., 4.250%, 05/01/2030 | 23136 | 0.0 |
| 7000 <sup>(1)</sup> | Jersey Central Power & Light Co., 2.750%, 03/01/2032 | 6291 | 0.0 |
| 10000 | Kentucky Utilities Co. KENT, 5.450%, 04/15/2033 | 10340 | 0.0 |
| 29000 <sup>(1)</sup> | Liberty Utilities Co., 5.577%, 01/31/2029 | 29593 | 0.0 |
| 44000 <sup>(1)</sup> | Liberty Utilities Co., 5.869%, 01/31/2034 | 45676 | 0.1 |
| 10000 | Louisville Gas and Electric Co. LOU, 5.450%, 04/15/2033 | 10346 | 0.0 |
| 27000 <sup>(1)</sup> | Monongahela Power Co., 3.550%, 05/15/2027 | 26743 | 0.0 |
| 23000 <sup>(1)</sup> | Monongahela Power Co., 5.850%, 02/15/2034 | 24197 | 0.0 |
| 31000 <sup>(1)</sup> | Narragansett Electric Co., 3.395%, 04/09/2030 | 29648 | 0.0 |
| 35000 | National Grid PLC, 5.418%, 01/11/2034 | 35680 | 0.1 |
| 50000 | National Rural Utilities Cooperative Finance Corp., 2.400%, 03/15/2030 | 46447 | 0.1 |
| 26000 | National Rural Utilities Cooperative Finance Corp., 2.750%, 04/15/2032 | 23324 | 0.0 |
| 7000 | National Rural Utilities Cooperative Finance Corp., 4.150%, 12/15/2032 | 6791 | 0.0 |
| 5000 | National Rural Utilities Cooperative Finance Corp., 5.800%, 01/15/2033 | 5300 | 0.0 |
| 24000 | National Rural Utilities Cooperative Finance Corp., MTN, 1.650%, 06/15/2031 | 20691 | 0.0 |
| 45000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 44160 | 0.1 |
| 58000 <sup>(2)</sup> | NextEra Energy Capital Holdings, Inc., 3.800%, 03/15/2082 | 56036 | 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)** |  |  |
| 36000 | NextEra Energy Capital Holdings, Inc., 5.300%, 03/15/2032 | $36886 | 0.1 |
| 40000 | NextEra Energy Capital Holdings, Inc., 5.850%, 03/01/2056 | 39068 | 0.1 |
| 35000 <sup>(2)</sup> | NextEra Energy Capital Holdings, Inc., 6.375%, 08/15/2055 | 35675 | 0.1 |
| 36000 <sup>(2)</sup> | NextEra Energy Capital Holdings, Inc., 6.500%, 08/15/2055 | 37164 | 0.1 |
| 38000 <sup>(1)</sup> | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 34196 | 0.1 |
| 6000 <sup>(1)</sup> | Niagara Mohawk Power Corp., 5.664%, 01/17/2054 | 5639 | 0.0 |
| 43000 | NiSource, Inc., 5.850%, 04/01/2055 | 41830 | 0.1 |
| 93000 <sup>(1)</sup> | NorthWestern Corp., 5.073%, 03/21/2030 | 94520 | 0.1 |
| 15000 | NSTAR Electric Co., 1.950%, 08/15/2031 | 13128 | 0.0 |
| 10000 | NSTAR Electric Co., 5.400%, 06/01/2034 | 10226 | 0.0 |
| 13000 | OGE Energy Corp., 5.450%, 05/15/2029 | 13322 | 0.0 |
| 17000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 17352 | 0.0 |
| 15000 | Pacific Gas and Electric Co., 4.300%, 03/15/2045 | 11731 | 0.0 |
| 9000 | Pacific Gas and Electric Co., 4.450%, 04/15/2042 | 7432 | 0.0 |
| 41000 <sup>(1)</sup> | PSEG Power LLC, 5.200%, 05/15/2030 | 41653 | 0.1 |
| 49000 <sup>(1)</sup> | PSEG Power LLC, 5.750%, 05/15/2035 | 49795 | 0.1 |
| 17000 | Public Service Electric and Gas Co., MTN, 5.200%, 03/01/2034 | 17296 | 0.0 |
| 18000 | Public Service Enterprise Group, Inc., 1.600%, 08/15/2030 | 15853 | 0.0 |
| 39000 | Public Service Enterprise Group, Inc., 2.450%, 11/15/2031 | 34617 | 0.1 |
| 31000 | Public Service Enterprise Group, Inc., 4.900%, 03/15/2030 | 31320 | 0.0 |
| 46000 | Public Service Enterprise Group, Inc., 5.200%, 04/01/2029 | 46906 | 0.1 |
| 14000 | Public Service Enterprise Group, Inc., 5.400%, 03/15/2035 | 14176 | 0.0 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| |  | | | **Percentage** | **Percentage** |
| |  | | | **of Net** | **of Net** |
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Assets** | **Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Utilities: (continued)** |  |  |  |  |
| 35000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | $| 35783 |  | 0.1 |
| 48000 <sup>(2)</sup> | Sempra, 6.400%, 10/01/2054 |  | 47866 |  | 0.1 |
| 42000 | Southern Co., 5.113%, 08/01/2027 |  | 42378 |  | 0.1 |
| 53000 <sup>(2)</sup> | Southern Co. 21-A, 3.750%, 09/15/2051 |  | 52663 |  | 0.1 |
| 14000 | Southwestern Electric Power Co., 5.300%, 04/01/2033 |  | 14204 |  | 0.0 |
| 113000 | Southwestern Public Service Co., 5.300%, 05/15/2035 |  | 113393 |  | 0.2 |
| 6000 | Southwestern Public Service Co., 6.000%, 06/01/2054 |  | 6049 |  | 0.0 |
| 37000 | Tucson Electric Power Co., 5.200%, 09/15/2034 |  | 37241 |  | 0.1 |
| 42000 | Virginia Electric and Power Co., 4.950%, 03/15/2036 |  | 40959 |  | 0.1 |
| 50000 | WEC Energy Group, Inc., 1.375%, 10/15/2027 |  | 47765 |  | 0.1 |
| 29000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 |  | 27394 |  | 0.0 |
| 14000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 |  | 14155 |  | 0.0 |
| 16000 | Wisconsin Electric Power Co., 1.700%, 06/15/2028 |  | 15186 |  | 0.0 |
| 17000 | Wisconsin Power and Light Co., 5.375%, 03/30/2034 |  | 17264 |  | 0.0 |
| 37000 | Xcel Energy, Inc., 5.600%, 04/15/2035 |  | 37619 |  | 0.1 |
|  |  |  | **3028079** |  | **3.8** |
|  | Total Corporate Bonds/ Notes |  |  |  |  |
|  | (Cost $25,048,161) |  | **24735537** |  | **30.9** |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS: 26.0%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS: 26.0%** |  |  |  |  |
|  | **Government National Mortgage Association: 3.6%** | **Government National Mortgage Association: 3.6%** | **Government National Mortgage Association: 3.6%** | **Government National Mortgage Association: 3.6%** | **Government National Mortgage Association: 3.6%** |
| 1486960 | 4.500%, 11/20/2055 |  | 1438423 |  | 1.8 |
| 1446968 | 5.000%, 10/20/2054 |  | 1435723 |  | 1.8 |
|  |  |  | **2874146** |  | **3.6** |
|  | **Uniform Mortgage-Backed Securities: 22.4%** | **Uniform Mortgage-Backed Securities: 22.4%** | **Uniform Mortgage-Backed Securities: 22.4%** | **Uniform Mortgage-Backed Securities: 22.4%** |  |
| 2376449 | 2.000%, 02/01/2052 |  | 1925118 |  | 2.4 |
| 3592000 <sup>(3)</sup> | 2.000%, 04/01/2056 |  | 2894085 |  | 3.6 |
| 3132650 | 2.500%, 05/01/2052 |  | 2652948 |  | 3.3 |
| 1685000 <sup>(3)</sup> | 2.500%, 04/01/2056 |  | 1416980 |  | 1.8 |
| 2326823 | 3.000%, 06/01/2052 |  | 2050318 |  | 2.6 |
| 1939779 | 3.500%, 02/01/2051 |  | 1798276 |  | 2.2 |
| 2015181 | 4.000%, 08/01/2055 |  | 1903471 |  | 2.4 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| |  | | | **Percentage** | **Percentage** |
| |  | | | **of Net** | **of Net** |
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Assets** | **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)** | **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)** | **Uniform Mortgage-Backed Securities (continued)** |
| 2217210 | 5.500%, 01/01/2056 | $| 2229428 |  | 2.8 |
| 998865 | 6.000%, 05/01/2055 |  | 1018757 |  | 1.3 |
|  |  |  | **17889381** |  | **22.4** |
|  | Total U.S. Government Agency Obligations |  |  |  |  |
|  | (Cost $20,878,573) |  | **20763527** |  | **26.0** |
| **U.S. TREASURY OBLIGATIONS: 20.2%** | **U.S. TREASURY OBLIGATIONS: 20.2%** |  |  |  |  |
|  | **United States Treasury Bonds: 7.8%** | **United States Treasury Bonds: 7.8%** | **United States Treasury Bonds: 7.8%** | **United States Treasury Bonds: 7.8%** | **United States Treasury Bonds: 7.8%** |
| 1300000 | 3.000%, 08/15/2052 |  | 924447 |  | 1.1 |
| 800000 | 4.375%, 05/15/2041 |  | 770781 |  | 1 |
| 2288100 | 4.625%, 02/15/2046 |  | 2206050 |  | 2.8 |
| 1343200 | 4.625%, 11/15/2055 |  | 1283596 |  | 1.6 |
| 1000000 | 4.750%, 02/15/2041 |  | 1005859 |  | 1.3 |
|  |  |  | **6190733** |  | **7.8** |
|  | **United States Treasury Notes: 12.4%** | **United States Treasury Notes: 12.4%** | **United States Treasury Notes: 12.4%** | **United States Treasury Notes: 12.4%** | **United States Treasury Notes: 12.4%** |
| 1617100 | 3.500%, 03/15/2029 |  | 1602887 |  | 2 |
| 2126900 | 3.875%, 03/31/2028 |  | 2130140 |  | 2.7 |
| 1898600 | 3.875%, 03/31/2031 |  | 1892593 |  | 2.4 |
| 800000 | 4.000%, 01/15/2027 |  | 801640 |  | 1 |
| 1811800 | 4.125%, 02/15/2036 |  | 1783632 |  | 2.2 |
| 1701900 | 4.250%, 03/31/2033 |  | 1713734 |  | 2.1 |
|  |  |  | **9924626** |  | **12.4** |
|  | Total U.S. Treasury Obligations |  |  |  |  |
|  | (Cost $16,374,053) |  | **16115359** |  | **20.2** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1%** |  |
| 500000 <sup>(1)(2)</sup> | Acore Issuer LLC 2026-FL1 A, 5.125%, (TSFR1M + 1.450%), 08/20/2043 |  | 500526 |  | 0.6 |
| 600000 <sup>(1)(2)</sup> | Arbor Realty Commercial Real Estate Notes LLC 2026-FL1 AS, 5.420%, (TSFR1M + 1.750%), 09/20/2043 |  | 600924 |  | 0.8 |
| 300000 <sup>(1)(2)</sup> | AREIT Ltd. 2025-CRE10 AS, 5.220%, (TSFR1M + 1.542%), 01/17/2030 |  | 299453 |  | 0.4 |
| 500000 <sup>(1)(2)</sup> | Brspl3 Ltd. 2026-FL3 B, 5.627%, (TSFR1M + 1.950%), 08/19/2043 |  | 500889 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2026-CSMO B, 5.373%, (TSFR1M + 1.700%), 02/15/2043 |  | 500906 |  | 0.7 |
| 500000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2026-XL6 B, 5.123%, (TSFR1M + 1.450%), 03/15/2043 |  | 497119 |  | 0.6 |
| 400000 <sup>(1)(2)</sup> | BX Trust 2026-CART C, 5.223%, (TSFR1M + 1.550%), 02/15/2036 |  | 397329 |  | 0.5 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| |  | | | **Percentage** | **Percentage** |
| |  | | | **of Net** | **of Net** |
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Assets** | **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)** |  |
| 500000 <sup>(1)(2)</sup> | BXMT Ltd. 2026-FL6 AS, 5.427%, (TSFR1M + 1.750%), 08/19/2043 | $| 500774 |  | 0.6 |
| 250000 | COMM Mortgage Trust 2018-COR3 A3, 4.228%, 05/10/2051 |  | 245363 |  | 0.3 |
| 247670 <sup>(1)(2)</sup> | Extended Stay America Trust 2026-ESH2 C, 5.273%, (TSFR1M + 1.600%), 02/15/2043 |  | 248470 |  | 0.3 |
| 500000 <sup>(1)(2)</sup> | FS 2026-ORL B, 5.223%, (TSFR1M + 1.550%), 02/15/2041 |  | 499925 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2026-FL11 B, 5.565%, (TSFR1M + 1.900%), 01/19/2044 |  | 500652 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | LSTR Trust 2026-HTL6 A, 5.173%, (TSFR1M + 1.500%), 12/15/2040 |  | 498792 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | MF1 LLC 2025-FL17 A, 5.000%, (TSFR1M + 1.320%), 02/18/2040 |  | 500332 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | MF1 LLC 2026-FL21 A, 5.030%, (TSFR1M + 1.350%), 02/18/2041 |  | 499471 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | ONNI Commercial Mortgage Trust 2024-APT A, 5.196%, 07/15/2039 |  | 506550 |  | 0.7 |
|  | Total Commercial Mortgage-Backed Securities |  |  |  |  |
|  | (Cost $7,302,009) |  | **7297475** |  | **9.1** |
| **ASSET-BACKED SECURITIES: 8.7%** | **ASSET-BACKED SECURITIES: 8.7%** |  |  |  |  |
|  | **Automobile Asset-Backed Securities: 0.8%** | **Automobile Asset-Backed Securities: 0.8%** | **Automobile Asset-Backed Securities: 0.8%** | **Automobile Asset-Backed Securities: 0.8%** |  |
| 350000 | CarMax Auto Owner Trust 2026-1 A3, 4.040%, 03/17/2031 |  | 349035 |  | 0.4 |
| 300000 | Exeter Automobile Receivables Trust 2026-1A A3, 4.030%, 03/15/2030 |  | 299161 |  | 0.4 |
|  |  |  | **648196** |  | **0.8** |
|  | **Other Asset-Backed Securities: 7.5%** | **Other Asset-Backed Securities: 7.5%** | **Other Asset-Backed Securities: 7.5%** | **Other Asset-Backed Securities: 7.5%** |  |
| 250000 <sup>(1)(2)</sup> | ARES LX CLO Ltd. 2021-60A AR2, 4.628%, (TSFR3M + 0.960%), 07/18/2034 |  | 249463 |  | 0.3 |
| 500000 <sup>(1)(2)</sup> | Bain Capital Credit CLO Ltd. 2021-4A A1RR, 4.668%, (TSFR3M + 1.000%), 10/20/2034 |  | 499241 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | Bain Capital Credit CLO Ltd. 2024-1A A1R, 4.851%, (TSFR3M + 1.170%), 04/16/2039 |  | 500237 |  | 0.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** |
| 250000 <sup>(1)(2)</sup> | Barings CLO Ltd. 2024-1A A1R, 4.848%, (TSFR3M + 1.170%), 01/20/2039 | $249319 | 0.3 |
| 111667 <sup>(1)</sup> | Beacon Container Finance II LLC 2021-1A A, 2.250%, 10/22/2046 | 104034 | 0.2 |
| 500000 <sup>(1)(2)</sup> | ICG US CLO Ltd. 2014-1A A1A3, 4.673%, (TSFR3M + 1.000%), 10/20/2034 | 500145 | 0.6 |
| 300000 <sup>(1)(2)</sup> | ICG US CLO Ltd. 2014-1A BR3, 5.423%, (TSFR3M + 1.750%), 10/20/2034 | 299991 | 0.4 |
| 250000 <sup>(1)(2)</sup> | Invesco US CLO Ltd. 2023-1A AR2, 4.781%, (TSFR3M + 1.110%), 04/22/2037 | 248771 | 0.3 |
| 500000 <sup>(1)(2)</sup> | LCM 39 Ltd./Jersey 39A A1R2, 4.703%, (TSFR3M + 1.040%), 10/15/2034 | 498092 | 0.6 |
| 500000 <sup>(1)(2)</sup> | Magnetite XXIII Ltd. 2019-23A AR2, 4.637%, (TSFR3M + 0.990%), 01/25/2035 | 499103 | 0.6 |
| 500000 <sup>(1)(2)</sup> | Navesink Clo 5 Ltd. 2026-5A B1, 5.307%, (TSFR3M + 1.600%), 03/31/2039 | 499985 | 0.6 |
| 250000 <sup>(1)(2)</sup> | Neuberger Berman Loan Advisers Clo 51 Ltd. 2022-51A AR2, 4.668%, (TSFR3M + 1.000%), 10/23/2036 | 250054 | 0.3 |
| 400000 <sup>(1)(2)</sup> | Octagon Investment Partners 49 Ltd. 2020-5A ARR, 4.792%, (TSFR3M + 1.120%), 04/15/2037 | 397536 | 0.5 |
| 400000 <sup>(1)(2)</sup> | Palmer Square Loan Funding Ltd. 2024-3A A2R, 4.810%, (TSFR3M + 1.150%), 08/08/2032 | 399747 | 0.5 |
| 350000 <sup>(1)</sup> | Sabal Issuer LLC 2026-1A A1, 6.000%, 05/02/2061 | 351342 | 0.5 |
| 250000 <sup>(1)(2)</sup> | Sound Point CLO XXXII Ltd. 2021-4A AR, 4.960%, (TSFR3M + 1.030%), 10/25/2034 | 250017 | 0.3 |
| 207667 <sup>(1)</sup> | Textainer Marine Containers VII Ltd. 2021-1A A, 1.680%, 02/20/2046 | 195371 | 0.3 |
|  |  | **5992448** | **7.5** |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| |  | | **Percentage** | **Percentage** |
| |  | | **of Net** | **of Net** |
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Assets** | **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: 0.4%** | **Student Loan Asset-Backed Securities: 0.4%** | **Student Loan Asset-Backed Securities: 0.4%** | **Student Loan Asset-Backed Securities: 0.4%** |
| 311935 <sup>(1)</sup> | SMB Private Education Loan Trust 2025-A A1A, 5.130%, 04/15/2054 | $314471 |  | 0.4 |
|  | Total Asset-Backed Securities |  |  |  |
|  | (Cost $6,966,941) | **6955115** |  | **8.7** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 6.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 6.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 6.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 6.0%** |  |
| 500000 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust Series 2026-3 A9B, 5.000%, 01/25/2057 | 488824 |  | 0.6 |
| 394365 <sup>(1)(2)</sup> | Chase Mortgage Finance Corp. 2026-CINV1 A9B, 5.000%, 01/25/2057 | 386272 |  | 0.5 |
| 500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2026-R02 1M2, 5.162%, (SOFR30A + 1.500%), 02/25/2046 | 503207 |  | 0.7 |
| 500000 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2026-DNA2 M2, 5.272%, (SOFR30A + 1.600%), 03/25/2046 | 501016 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2025-9 A8, 5.500%, 03/25/2056 | 496966 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | Morgan Stanley Residential Mortgage Loan Trust 2026-1 A2, 5.000%, 04/25/2056 | 491309 |  | 0.6 |
| 491827 <sup>(1)(2)</sup> | OBX Trust 2026-J1 A2, 5.000%, 02/25/2056 | 484899 |  | 0.6 |
| 496008 <sup>(1)(2)</sup> | PMT Loan Trust 2026-J2 A19, 5.500%, 03/25/2057 | 491749 |  | 0.6 |
| 495502 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2026-3 A19, 5.000%, 03/25/2056 | 484412 |  | 0.6 |
| 500000 <sup>(1)(2)</sup> | SG Residential Mortgage Trust 2026-2 A1, 5.251%, 04/25/2066 | 499047 |  | 0.6 |
|  | Total Collateralized Mortgage Obligations |  |  |  |
|  | (Cost $4,855,871) | **4827701** |  | **6.0** |
|  |  |  |  | **Percentage** |
|  |  |  |  | **of Net** |
| **Shares** | **RA** | **Value** |  | **Assets** |
| **MUTUAL FUNDS: 3.0%** | **MUTUAL FUNDS: 3.0%** | **MUTUAL FUNDS: 3.0%** |  |  |
|  | **Affiliated Investment Companies: 3.0%** | **Affiliated Investment Companies: 3.0%** | **Affiliated Investment Companies: 3.0%** | **Affiliated Investment Companies: 3.0%** |
| 75193 <sup>(4)</sup> | Voya VACS Series EMHCD Fund | 784265 |  | 1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **MUTUAL FUNDS: (continued)** | **MUTUAL FUNDS: (continued)** | **MUTUAL FUNDS: (continued)** | **MUTUAL FUNDS: (continued)** |
|  | **Affiliated Investment Companies: (continued)** | **Affiliated Investment Companies: (continued)** | **Affiliated Investment Companies: (continued)** |
| 156335 <sup>(4)</sup> | Voya VACS Series HYB Fund | $1589928 | 2.0 |
|  |  | **2374193** | **3.0** |
|  | Total Mutual Funds |  |  |
|  | (Cost $2,426,885) | **2374193** | **3.0** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $83,852,493) | **83068907** | **103.9** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $83,852,493)** | $**83068907** | **103.9** |
|  | **Liabilities in Excess of Other Assets** | **(3091410)** | **(3.9)** |
|  | **Net Assets** | $**79977497** | **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> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <sup>(3)</sup> | Represents or includes a "to be announced" (TBA) security transaction. |
| <sup>(4)</sup> | Investment in affiliate. |

---

Reference Rate Abbreviations:

SOFR30A 30-day Secured Overnight Financing Rate <br> 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 VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

**Fair Value Measurements<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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>**March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $24735537 | $— | $24735537 |
| U.S. Government Agency Obligations |  | 20763527 |  | 20763527 |
| U.S. Treasury Obligations |  | 16115359 |  | 16115359 |
| Commercial Mortgage-Backed Securities |  | 7297475 |  | 7297475 |
| Asset-Backed Securities |  | 6955115 |  | 6955115 |
| Collateralized Mortgage Obligations |  | 4827701 |  | 4827701 |
| Mutual Funds | 2374193 |  |  | 2374193 |
| Total Investments, at fair value | $2374193 | $80694714 | $— | 83068907 |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Credit Default Swaps |  | 8807 |  | 8807 |
| Futures | 5830 |  |  | 5830 |
| Total Assets | $2380023 | $80703521 | $— | $83083544 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Centrally Cleared Credit Default Swaps | $— | $(10266) | $— | (10266) |
| Futures | (63175) |  |  | (63175) |
| Total Liabilities | $(63175) | $(10266) | $— | $(73441) |

---

---

| | |
|:---|:---|
| ^ | See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information. |
| + | 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. |

---

**Transactions with Affiliates**

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control with the issuer, results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the year ended March 31, 2026, where the following issuers were considered an affiliate:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Issuer** |<br>**Beginning**<br>**Fair Value**<br>**at 1/22/2026** |<br>**Purchases**<br>**at Cost** |<br>**Sales**<br>**at Cost** | **Change In**<br>**Unrealized**<br>**Appreciation/**<br>**(Depreciation)** | **Ending**<br>**Fair**<br>**Value at**<br>**3/31/2026** |<br>**Investment**<br>**Income** |<br>**Realized**<br>**Gains/**<br>**(Losses)** | **Net**<br>**Capital**<br>**Gain**<br>**Distributions** |
| Voya VACS Series EMHCD Fund | $— | $808971 | $— | $(24706) | $784265 | $7972 | $— | $— |
| Voya VACS Series HYB Fund |  | 1617914 |  | (27986) | 1589928 | 15915 |  |  |
|  | $— | $2426885 | $— | $(52692) | $2374193 | $23887 | $— | $— |

---

The financial statements for the above mutual fund[s] and, as applicable, ETF[s] can be found at www.sec.gov.

At March 31, 2026, the following futures contracts were outstanding for Voya VACS Series CB 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 | 74 | 06/30/26 | $15350953 | $(19826) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 45 | 06/30/26 | 4868086 | (35930) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 3 | 06/18/26 | 341625 | (7319) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 10 | 06/18/26 | 1165625 | 9 |
|  |  |  | $21726289 | $(63066) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (11) | 06/18/26 | (1221515) | 5821 |

---

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Description** | <br>**Number**<br>**of Contracts** | <br>**Expiration**<br>**Date** |<br>**Notional**<br>**Amount** | **Unrealized**<br>**Appreciation/**<br>**(Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (3) | 06/18/26 | $(340547) | $(100) |
|  |  |  | $(1562062) | $5721 |

---

At March 31, 2026, the following centrally cleared credit default swaps were outstanding for Voya VACS Series CB 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 High Yield Index, Series |  |  |  |  |  |  |  |
| 45, Version 2 | Sell | 5.000 | 12/20/30 | USD | 1595781 | $84036 | $(10266) |
| CDX North American High Yield Index, Series |  |  |  |  |  |  |  |
| 46, Version 1 | Sell | 5.000 | 06/20/31 | USD | 1100000 | 52702 | 8807 |
|  |  |  |  |  |  | $136738 | $(1459) |

---

<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.

 

Currency Abbreviations:

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 March 31, 2026 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> | $5830 |
| Credit contracts | Variation margin receivable on centrally cleared swaps<sup>\*</sup> | 8807 |
| **Total Asset Derivatives** |  | $14637 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $63175 |
| Credit contracts | Variation margin payable on centrally cleared swaps<sup>\*</sup> | 10266 |
| **Total Liability Derivatives** |  | $73441 |

---

\* 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).

See Accompanying Notes to Financial Statements

Voya VACS Series CB Fund PORTFOLIO OF INVESTMENTS <br> as of March 31, 2026 (continued) <br>    

The effect of derivative instruments on the Fund's Statement of Operations for the year ended March 31, 2026 was as follows:

**Amount of Realized Gain or (Loss) on Derivatives Recognized in Income**

---

| | | | |
|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** | **Swaps** | **Total** |
| Interest rate contracts | $73467 | $4985 | $78452 |
| **Total** | $73467 | $4985 | $78452 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | | | |
|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** | **Swaps** | **Total** |
| Credit contracts | $— | $(1459) | $(1459) |
| Interest rate contracts | (57345) |  | (57345) |
| **Total** | $(57345) | $(1459) | $(58804) |

---

At March 31, 2026, 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 $83,838,501. | Cost for U.S. federal income tax purposes was $83,838,501. |
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $28046 |
| Gross Unrealized Depreciation | (856444) |
| Net Unrealized Depreciation | $(828398) |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: 59.6%** | **SOVEREIGN BONDS: 59.6%** |  |  |
|  | **Angola: 1.5%** |  |  |
| 550000 <sup>(1)</sup> | Angolan Government International Bond, 8.000%, 11/26/2029 | $543813 | 0.5 |
| 300000 | Angolan Government International Bond, 8.750%, 04/14/2032 | 292125 | 0.2 |
| 400000 <sup>(1)</sup> | Angolan Government International Bond, 9.375%, 03/31/2033 | 394252 | 0.3 |
| 350000 | Angolan Government International Bond, 9.375%, 05/08/2048 | 311150 | 0.3 |
| 200000 | Angolan Government International Bond, 9.875%, 10/15/2035 | 201000 | 0.2 |
|  |  | **1742340** | **1.5** |
|  | **Argentina: 2.6%** |  |  |
| 744319 <sup>(2)</sup> | Argentine Republic Government International Bond, 0.750% (Step Rate @ 1.750% on 07/09/2027), 07/09/2030 | 625135 | 0.6 |
| 156878 | Argentine Republic Government International Bond, 1.000%, 07/09/2029 | 138033 | 0.1 |
| 550000 <sup>(2)</sup> | Argentine Republic Government International Bond, 3.500% (Step Rate @ 4.875% on 07/09/2029), 07/09/2041 | 369050 | 0.3 |
| 2056220 <sup>(2)</sup> | Argentine Republic Government International Bond, 4.125% (Step Rate @ 4.750% on 07/09/2027), 07/09/2035 | 1490760 | 1.3 |
| 451019 <sup>(3)</sup> | Argentine Republic Government International Bond, 5.000%, 01/09/2038 | 340970 | 0.3 |
|  |  | **2963948** | **2.6** |
|  | **Bahrain: 1.8%** |  |  |
| 1450000 | Bahrain Government International Bond, 7.375%, 05/14/2030 | 1455989 | 1.3 |
| 600000 <sup>(1)</sup> | Bahrain Government International Bond, 7.500%, 02/12/2036 | 591300 | 0.5 |
|  |  | **2047289** | **1.8** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Benin: 0.2%** |  |  |
| 200000 | Benin Government International Bond, 8.375%, 01/23/2041 | $198143 | 0.2 |
|  | **Brazil: 3.2%** |  |  |
| 400000 | Brazilian Government International Bond, 5.625%, 02/21/2047 | 335190 | 0.3 |
| 500000 | Brazilian Government International Bond, 6.000%, 10/20/2033 | 501387 | 0.4 |
| 200000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 199907 | 0.2 |
| 945000 | Brazilian Government International Bond, 6.250%, 03/18/2031 | 986580 | 0.9 |
| 200000 | Brazilian Government International Bond, 6.250%, 05/22/2036 | 196800 | 0.2 |
| 600000 | Brazilian Government International Bond, 6.625%, 03/15/2035 | 615150 | 0.5 |
| 900000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | 884430 | 0.7 |
|  |  | **3719444** | **3.2** |
|  | **Colombia: 3.5%** |  |  |
| 300000 | Colombia Government International Bond, 3.250%, 04/22/2032 | 250875 | 0.2 |
| 350000 | Colombia Government International Bond, 5.000%, 06/15/2045 | 251738 | 0.2 |
| 325000 | Colombia Government International Bond, 6.125%, 01/21/2031 | 320531 | 0.3 |
| 500000 | Colombia Government International Bond, 6.125%, 01/18/2041 | 437000 | 0.4 |
| 550000 | Colombia Government International Bond, 6.500%, 01/21/2033 | 538862 | 0.5 |
| 500000 | Colombia Government International Bond, 7.750%, 11/07/2036 | 512763 | 0.5 |
| 464000 | Colombia Government International Bond, 8.000%, 04/20/2033 | 491028 | 0.4 |
| 355000 | Colombia Government International Bond, 8.000%, 11/14/2035 | 372581 | 0.3 |
| 775000 | Colombia Government International Bond, 8.375%, 11/07/2054 | 801931 | 0.7 |
|  |  | **3977309** | **3.5** |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Costa Rica: 0.9%** |  |  |
| 575000 | Costa Rica Government International Bond, 6.125%, 02/19/2031 | $588944 | 0.5 |
| 450000 <sup>(1)</sup> | Costa Rica Government International Bond, 7.300%, 11/13/2054 | 489684 | 0.4 |
|  |  | **1078628** | **0.9** |
|  | **Dominican Republic: 2.1%** |  |  |
| 200000 <sup>(1)</sup> | Dominican Republic International Bond, 4.875%, 09/23/2032 | 184950 | 0.1 |
| 500000 <sup>(1)</sup> | Dominican Republic International Bond, 5.300%, 01/21/2041 | 425406 | 0.4 |
| 1050000 | Dominican Republic International Bond, 5.875%, 01/30/2060 | 880950 | 0.8 |
| 550000 | Dominican Republic International Bond, 6.000%, 07/19/2028 | 554538 | 0.5 |
| 200000 <sup>(1)</sup> | Dominican Republic International Bond, 6.000%, 02/22/2033 | 195400 | 0.2 |
| 150000 <sup>(1)</sup> | Dominican Republic International Bond, 7.050%, 02/03/2031 | 155437 | 0.1 |
|  |  | **2396681** | **2.1** |
|  | **Ecuador: 0.7%** |  |  |
| 442550 <sup>(1)(2)</sup> | Ecuador Government International Bond, 5.000% (Step Rate @ 5.500% on 07/31/2026), 07/31/2040 | 345742 | 0.3 |
| 497340 <sup>(1)(3)</sup> | Ecuador Government International Bond, 6.900%, 07/31/2035 | 437286 | 0.4 |
|  |  | **783028** | **0.7** |
|  | **Egypt: 2.3%** |  |  |
| 800000 <sup>(4)</sup> | Egypt Government International Bond, 5.800%, 09/30/2027 | 789848 | 0.7 |
| 500000 <sup>(1)</sup> | Egypt Government International Bond, 7.500%, 02/16/2061 | 382450 | 0.3 |
| 375000 <sup>(1)</sup> | Egypt Government International Bond, 8.625%, 02/04/2030 | 388552 | 0.3 |
| 675000 <sup>(1)</sup> | Egypt Government International Bond, 8.700%, 03/01/2049 | 591965 | 0.5 |
| 200000 | Egypt Government International Bond, 8.875%, 05/29/2050 | 177000 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Egypt: (continued)** |  |  |
| 350000 <sup>(1)</sup> | Egypt Government International Bond, 8.875%, 05/29/2050 | $309750 | 0.3 |
|  |  | **2639565** | **2.3** |
|  | **El Salvador: 0.2%** |  |  |
| 275000 | El Salvador Government International Bond, 7.650%, 06/15/2035 | 270188 | 0.2 |
|  | **Ghana: 0.7%** |  |  |
| 103789 <sup>(5)</sup> | Ghana Government International Bond, 4.540%, 01/03/2030 | 87832 | 0.1 |
| 278863 <sup>(2)</sup> | Ghana Government International Bond, 5.000% (Step Rate @ 6.000% on 07/03/2028), 07/03/2029 | 266662 | 0.2 |
| 492800 <sup>(2)</sup> | Ghana Government International Bond, 5.000% (Step Rate @ 6.000% on 07/03/2028), 07/03/2035 | 421344 | 0.4 |
|  |  | **775838** | **0.7** |
|  | **Guatemala: 1.4%** |  |  |
| 435000 <sup>(1)</sup> | Guatemala Government Bond, 5.250%, 08/10/2029 | 434533 | 0.4 |
| 600000 <sup>(1)</sup> | Guatemala Government Bond, 6.050%, 08/06/2031 | 614100 | 0.5 |
| 250000 <sup>(1)</sup> | Guatemala Government Bond, 6.550%, 02/06/2037 | 260297 | 0.2 |
| 300000 <sup>(1)</sup> | Guatemala Government Bond, 6.600%, 06/13/2036 | 314966 | 0.3 |
|  |  | **1623896** | **1.4** |
|  | **Honduras: 0.4%** |  |  |
| 250000 | Honduras Government International Bond, 5.625%, 06/24/2030 | 247481 | 0.2 |
| 200000 | Honduras Government International Bond, 6.250%, 01/19/2027 | 201435 | 0.2 |
|  |  | **448916** | **0.4** |
|  | **Hungary: 2.4%** |  |  |
| 300000 <sup>(1)</sup> | Hungary Government International Bond, 3.125%, 09/21/2051 | 178125 | 0.1 |
| 450000 <sup>(1)</sup> | Hungary Government International Bond, 5.500%, 06/16/2034 | 445149 | 0.4 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Hungary: (continued)** |  |  |
| 800000 | Hungary Government International Bond, 5.500%, 03/26/2036 | $780200 | 0.7 |
| 525000 | Hungary Government International Bond, 6.750%, 09/23/2055 | 535542 | 0.5 |
| 500000 | Hungary Government International Bond 30Y, 7.625%, 03/29/2041 | 567192 | 0.5 |
| 300000 <sup>(1)</sup> | Magyar Export-Import Bank Zrt, 6.125%, 12/04/2027 | 303942 | 0.2 |
|  |  | **2810150** | **2.4** |
|  | **India: 0.2%** |  |  |
| 300000 | Export-Import Bank of India, 2.250%, 01/13/2031 | 268035 | 0.2 |
|  | **Indonesia: 1.4%** |  |  |
| 320000 | Indonesia Government International Bond, 5.450%, 09/20/2052 | 300221 | 0.3 |
| 1050000 | Indonesia Government International Bond, 8.500%, 10/12/2035 | 1287799 | 1.1 |
|  |  | **1588020** | **1.4** |
|  | **Ivory Coast: 1.2%** |  |  |
| 575000 <sup>(1)</sup> | Ivory Coast Government International Bond, 6.750%, 02/25/2041 | 505202 | 0.5 |
| 300000 <sup>(1)</sup> | Ivory Coast Government International Bond, 7.625%, 01/30/2033 | 306000 | 0.3 |
| 375000 <sup>(1)</sup> | Ivory Coast Government International Bond, 8.250%, 01/30/2037 | 385312 | 0.3 |
| 148849 <sup>(3)</sup> | Ivory Coast Government International Bond REGs, 5.750%, 12/31/2032 | 146227 | 0.1 |
|  |  | **1342741** | **1.2** |
|  | **Jamaica: 0.8%** |  |  |
| 400000 | Jamaica Government International Bond, 7.875%, 07/28/2045 | 459445 | 0.4 |
| 400000 | Jamaica Government International Bond, 8.000%, 03/15/2039 | 461445 | 0.4 |
|  |  | **920890** | **0.8** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Jordan: 0.9%** |  |  |
| 1000000 <sup>(1)</sup> | Jordan Government International Bond, 5.850%, 07/07/2030 | $984194 | 0.9 |
|  | **Kenya: 0.7%** |  |  |
| 250000 | Republic of Kenya Government International Bond, 6.300%, 01/23/2034 | 207880 | 0.2 |
| 225000 | Republic of Kenya Government International Bond, 8.000%, 05/22/2032 | 217822 | 0.2 |
| 250000 | Republic of Kenya Government International Bond, 8.250%, 02/28/2048 | 217067 | 0.2 |
| 200000 | Republic of Kenya Government International Bond, 9.500%, 03/05/2036 | 195200 | 0.1 |
|  |  | **837969** | **0.7** |
|  | **Lebanon: 0.8%** |  |  |
| 2000000 <sup>(6)</sup> | Lebanon Government International Bond, 6.100%, 10/04/2022 | 476000 | 0.4 |
| 2000000 <sup>(6)</sup> | Lebanon Government International Bond 10Y, 6.850%, 03/23/2027 | 476000 | 0.4 |
|  |  | **952000** | **0.8** |
|  | **Mexico: 4.5%** |  |  |
| 975000 <sup>(1)</sup> | Eagle Funding Luxco Sarl, 5.500%, 08/17/2030 | 978412 | 0.9 |
| 740000 | Mexico Government International Bond, 3.250%, 04/16/2030 | 693232 | 0.6 |
| 950000 | Mexico Government International Bond, 4.875%, 05/19/2033 | 902049 | 0.8 |
| 386000 | Mexico Government International Bond, 5.850%, 07/02/2032 | 390835 | 0.3 |
| 1179000 | Mexico Government International Bond, 6.338%, 05/04/2053 | 1101268 | 1 |
| 477000 | Mexico Government International Bond, 6.625%, 01/29/2038 | 486075 | 0.4 |
| 600000 | Mexico Government International Bond, 6.875%, 05/13/2037 | 629100 | 0.5 |
|  |  | **5180971** | **4.5** |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Morocco: 0.3%** |  |  |
| 500000 <sup>(1)</sup> | Morocco Government International Bond, 4.000%, 12/15/2050 | $345434 | 0.3 |
|  | **Nigeria: 2.3%** |  |  |
| 500000 | Nigeria Government International Bond, 6.500%, 11/28/2027 | 503400 | 0.4 |
| 550000 <sup>(1)</sup> | Nigeria Government International Bond, 7.375%, 09/28/2033 | 538433 | 0.5 |
| 300000 | Nigeria Government International Bond, 7.625%, 11/28/2047 | 273750 | 0.2 |
| 500000 | Nigeria Government International Bond, 7.696%, 02/23/2038 | 482614 | 0.4 |
| 175000 | Nigeria Government International Bond, 7.875%, 02/16/2032 | 177188 | 0.2 |
| 300000 | Nigeria Government International Bond, 7.875%, 02/16/2032 | 303750 | 0.3 |
| 350000 | Nigeria Government International Bond, 8.250%, 09/28/2051 | 336175 | 0.3 |
|  |  | **2615310** | **2.3** |
|  | **Oman: 0.7%** |  |  |
| 400000 | Oman Government International Bond, 6.000%, 08/01/2029 | 411148 | 0.4 |
| 350000 <sup>(1)</sup> | Oman Government International Bond, 6.500%, 03/08/2047 | 358750 | 0.3 |
|  |  | **769898** | **0.7** |
|  | **Pakistan: 0.7%** |  |  |
| 200000 | Pakistan Global Sukuk Programme Co. Ltd., 7.950%, 01/31/2029 | 198250 | 0.2 |
| 200000 | Pakistan Government International Bond, 6.875%, 12/05/2027 | 197550 | 0.2 |
| 200000 | Pakistan Government International Bond, 7.375%, 04/08/2031 | 186037 | 0.2 |
| 200000 | Pakistan Government International Bond, 8.875%, 04/08/2051 | 178409 | 0.1 |
|  |  | **760246** | **0.7** |
|  | **Panama: 1.7%** |  |  |
| 550000 | Panama Government International Bond, 4.500%, 01/19/2063 | 404277 | 0.3 |
| 500000 | Panama Government International Bond, 6.400%, 02/14/2035 | 520125 | 0.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |  |  |
|  | **Panama: (continued)** |  |  |
| 550000 | Panama Government International Bond, 6.700%, 01/26/2036 | $581595 | 0.5 |
| 410000 <sup>(4)</sup> | Panama Government International Bond, 7.500%, 03/01/2031 | 451513 | 0.4 |
|  |  | **1957510** | **1.7** |
|  | **Paraguay: 1.3%** |  |  |
| 43000 | Paraguay Government International Bond, 5.000%, 04/15/2026 | 43067 | 0.1 |
| 650000 | Paraguay Government International Bond, 5.600%, 03/13/2048 | 598528 | 0.5 |
| 550000 <sup>(1)</sup> | Paraguay Government International Bond, 5.850%, 08/21/2033 | 570350 | 0.5 |
| 225000 <sup>(1)</sup> | Paraguay Government International Bond, 6.000%, 02/09/2036 | 234382 | 0.2 |
|  |  | **1446327** | **1.3** |
|  | **Peru: 0.2%** |  |  |
| 250000 | Peruvian Government International Bond, 5.625%, 11/18/2050 | 238563 | 0.2 |
|  | **Philippines: 0.9%** |  |  |
| 550000 | Philippine Government International Bond, 5.500%, 01/17/2048 | 530097 | 0.5 |
| 500000 | Philippine Government International Bond, 5.950%, 10/13/2047 | 507000 | 0.4 |
|  |  | **1037097** | **0.9** |
|  | **Poland: 1.1%** |  |  |
| 590000 | Republic of Poland Government International Bond 10Y, 5.375%, 02/12/2035 | 600767 | 0.5 |
| 720000 | Republic of Poland Government International Bond 30Y, 5.500%, 03/18/2054 | 665697 | 0.6 |
|  |  | **1266464** | **1.1** |
|  | **Romania: 2.9%** |  |  |
| 1076000 <sup>(1)</sup> | Romanian Government International Bond, 3.000%, 02/14/2031 | 946853 | 0.8 |
| 500000 <sup>(1)</sup> | Romanian Government International Bond, 3.625%, 03/27/2032 | 439473 | 0.4 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Romania: (continued)** |  |  |
| 130000 | Romanian Government International Bond, 4.000%, 02/14/2051 | $84097 | 0.1 |
| 300000 | Romanian Government International Bond, 5.125%, 06/15/2048 | 236400 | 0.2 |
| 684000 <sup>(1)</sup> | Romanian Government International Bond, 5.750%, 03/24/2035 | 646380 | 0.6 |
| 528000 <sup>(1)</sup> | Romanian Government International Bond, 6.375%, 01/30/2034 | 526020 | 0.4 |
| 300000 | Romanian Government International Bond, 6.375%, 01/30/2034 | 298875 | 0.2 |
| 200000 | Romanian Government International Bond, 7.625%, 01/17/2053 | 210376 | 0.2 |
|  |  | **3388474** | **2.9** |
|  | **Saudi Arabia: 3.0%** |  |  |
| 1700000 | Saudi Government International Bond, 3.450%, 02/02/2061 | 1054043 | 0.9 |
| 600000 | Saudi Government International Bond, 3.750%, 01/21/2055 | 405750 | 0.4 |
| 850000 <sup>(1)</sup> | Saudi Government International Bond, 5.500%, 10/25/2032 | 877782 | 0.8 |
| 825000 | Saudi Government International Bond, 5.625%, 01/13/2035 | 852976 | 0.7 |
| 300000 <sup>(4)</sup> | Saudi Government International Bond, 5.750%, 01/16/2054 | 282750 | 0.2 |
|  |  | **3473301** | **3.0** |
|  | **Senegal: 0.2%** |  |  |
| 500000 | Senegal Government International Bond, 6.250%, 05/23/2033 | 266250 | 0.2 |
|  | **Serbia: 0.4%** |  |  |
| 250000 | Serbia International Bond, 2.125%, 12/01/2030 | 216172 | 0.2 |
| 275000 <sup>(1)</sup> | Serbia International Bond, 6.500%, 09/26/2033 | 287495 | 0.2 |
|  |  | **503667** | **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: 2.0%** |  |  |
| 300000 | Republic of South Africa Government International Bond, 6.125%, 12/11/2037 | $279189 | 0.2 |
| 450000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.250%, 12/11/2055 | 412875 | 0.4 |
| 450000 <sup>(1)</sup> | Republic of South Africa Government International Bond, 7.950%, 11/19/2054 | 446063 | 0.4 |
| 500000 | Republic of South Africa Government International Bond 30Y, 5.750%, 09/30/2049 | 388750 | 0.3 |
| 600000 | Republic of South Africa Government International Bond 30Y, 6.300%, 06/22/2048 | 503250 | 0.4 |
| 350000 | Republic of South Africa Government International Bond 30Y, 7.300%, 04/20/2052 | 325500 | 0.3 |
|  |  | **2355627** | **2.0** |
|  | **Sri Lanka: 1.1%** |  |  |
| 202000 <sup>(1)(2)</sup> | Sri Lanka Government International Bond, 3.100% (Step Rate @ 3.350% on 07/15/2027), 01/15/2030 | 187103 | 0.2 |
| 246220 <sup>(1)(2)</sup> | Sri Lanka Government International Bond, 3.350% (Step Rate @ 3.600% on 09/15/2027), 03/15/2033 | 205840 | 0.2 |
| 371514 <sup>(1)(2)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 3.850% on 08/15/2027), 02/15/2038 | 333422 | 0.3 |
| 185679 <sup>(1)(2)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 3.850% on 11/15/2027), 05/15/2036 | 164883 | 0.1 |
| 267540 <sup>(1)(2)</sup> | Sri Lanka Government International Bond, 3.600% (Step Rate @ 5.100% on 12/15/2027), 06/15/2035 | 203665 | 0.2 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Sri Lanka: (continued)** |  |  |
| 185274 <sup>(1)</sup> | Sri Lanka Government International Bond, 4.000%, 04/15/2028 | $177492 | 0.1 |
|  |  | **1272405** | **1.1** |
|  | **Trinidad and Tobago: 0.3%** |  |  |
| 400000 <sup>(1)</sup> | Trinidad & Tobago Government International Bond, 6.400%, 06/26/2034 | 398680 | 0.3 |
|  | **Turkey: 3.3%** |  |  |
| 800000 | Turkey Government International Bond, 7.250%, 05/29/2032 | 803376 | 0.7 |
| 300000 | Turkey Government International Bond 10Y, 5.125%, 02/17/2028 | 296625 | 0.2 |
| 800000 | Turkey Government International Bond 10Y, 7.625%, 04/26/2029 | 828240 | 0.7 |
| 820000 | Turkey Government International Bond 12Y, 6.500%, 09/20/2033 | 781993 | 0.7 |
| 550000 | Turkey Government International Bond 30Y, 6.000%, 01/14/2041 | 457311 | 0.4 |
| 400000 | Turkey Government International Bond 5Y, 9.875%, 01/15/2028 | 427272 | 0.4 |
| 200000 <sup>(1)</sup> | Turkey Ihracat Kredi Bankasi AS, 9.000%, 01/28/2027 | 205565 | 0.2 |
|  |  | **3800382** | **3.3** |
|  | **Ukraine: 1.3%** |  |  |
| 110474 <sup>(1)(2)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 65069 | 0.1 |
| 412832 <sup>(1)(2)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2034 | 177931 | 0.1 |
| 348869 <sup>(1)(2)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2035 | 161875 | 0.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** |
|  | **Ukraine: (continued)** |  |  |
| 290724 <sup>(1)(2)</sup> | Ukraine Government International Bond, 0.010% (Step Rate @ 3.000% on 02/01/2027), 02/01/2036 | $134605 | 0.1 |
| 299400 <sup>(1)(2)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2029 | 211077 | 0.2 |
| 418033 <sup>(1)(2)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2034 | 224066 | 0.2 |
| 569548 <sup>(1)(2)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2035 | 299582 | 0.3 |
| 535466 <sup>(1)(2)</sup> | Ukraine Government International Bond, 4.500% (Step Rate @ 6.000% on 01/02/2027), 02/01/2036 | 276301 | 0.2 |
|  |  | **1550506** | **1.3** |
|  | **United Arab Emirates: 0.2%** |  |  |
| 250000 <sup>(1)</sup> | Finance Department Government of Sharjah, 6.500%, 11/23/2032 | 255313 | 0.2 |
|  | **Uruguay: 0.1%** |  |  |
| 82223 | Uruguay Government International Bond, 4.375%, 10/27/2027 | 82736 | 0.1 |
| 51825 | Uruguay Government International Bond, 4.375%, 01/23/2031 | 51851 | 0.0 |
|  |  | **134587** | **0.1** |
|  | **Venezuela: 0.9%** |  |  |
| 175000 | Venezuela Government International Bond, 7.000%, 03/31/2038 | 71728 | 0.1 |
| 550000 <sup>(6)</sup> | Venezuela Government International Bond, 9.250%, 09/15/2027 | 263295 | 0.2 |
| 275000 | Venezuela Government International Bond, 9.250%, 05/07/2028 | 125641 | 0.1 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** | **SOVEREIGN BONDS: (continued)** |
|  | **Venezuela: (continued)** |  |  |
| 200000 | Venezuela Government International Bond, 9.375%, 01/13/2034 | $92917 | 0.1 |
| 425000 | Venezuela Government International Bond, 11.750%, 10/21/2026 | 217547 | 0.2 |
| 575000 | Venezuela Government International Bond, 11.950%, 08/05/2031 | 295190 | 0.2 |
|  |  | **1066318** | **0.9** |
|  | **Zambia: 0.3%** |  |  |
| 189337 <sup>(1)</sup> | Zambia Government International Bond, 0.500%, 12/31/2053 | 124016 | 0.1 |
| 179056 <sup>(1)(2)</sup> | Zambia Government International Bond, 5.750% (Step Rate @ 7.500% on 06/30/2031), 06/30/2033 | 168312 | 0.2 |
|  |  | **292328** | **0.3** |
|  | Total Sovereign Bonds |  |  |
|  | (Cost $64,409,321) | **68744870** | **59.6** |
| **CORPORATE BONDS/NOTES: 30.6%** | **CORPORATE BONDS/NOTES: 30.6%** |  |  |
|  | **Brazil: 0.4%** |  |  |
| 450000 <sup>(1)</sup> | Nova Securitisation Sarl, 6.500%, 02/03/2036 | 428062 | 0.4 |
|  | **Chile: 6.7%** |  |  |
| 416000 <sup>(1)(3)</sup> | Banco del Estado de Chile, 7.950%, 12/31/2199 | 437969 | 0.4 |
| 708691 <sup>(1)</sup> | Chile Electricity Lux Mpc II Sarl, 5.580%, 10/20/2035 | 715254 | 0.6 |
| 300000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 4.500%, 08/01/2047 | 238612 | 0.2 |
| 725000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 744118 | 0.7 |
| 425000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.300%, 09/08/2053 | 426488 | 0.4 |
| 1350000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.330%, 01/13/2035 | 1407551 | 1.2 |
| 906000 <sup>(1)</sup> | Corp Nacional del Cobre de Chile, 6.780%, 01/13/2055 | 949687 | 0.8 |
| 400000 <sup>(1)(4)</sup> | Empresa de Pasajeros Metro S.A., 3.693%, 09/13/2061 | 272312 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Chile: (continued)** |  |  |
| 300000 <sup>(1)</sup> | Empresa Nacional del Petroleo, 4.500%, 09/14/2047 | $242235 | 0.2 |
| 900000 <sup>(1)</sup> | Empresa Nacional del Petroleo, 5.950%, 07/30/2034 | 911160 | 0.8 |
| 375000 <sup>(1)</sup> | Engie Energia Chile SA, 6.375%, 04/17/2034 | 390656 | 0.4 |
| 275000 <sup>(1)(3)</sup> | Inversiones CMPC SA, 6.700%, 12/09/2057 | 269225 | 0.2 |
| 700000 <sup>(1)(3)</sup> | Sociedad Quimica y Minera de Chile SA, 5.625%, 04/22/2056 | 684425 | 0.6 |
|  |  | **7689692** | **6.7** |
|  | **Colombia: 0.6%** |  |  |
| 500000 | Ecopetrol SA, 8.375%, 01/19/2036 | 507675 | 0.4 |
| 250000 <sup>(1)</sup> | Grupo Energia Bogota SA ESP, 5.750%, 10/22/2035 | 238825 | 0.2 |
|  |  | **746500** | **0.6** |
|  | **India: 0.2%** |  |  |
| 200000 <sup>(1)</sup> | IRB Infrastructure Developers Ltd., 7.110%, 03/11/2032 | 200750 | 0.2 |
|  | **Indonesia: 2.8%** |  |  |
| 500000 <sup>(1)</sup> | Hutama Karya Persero PT, 3.750%, 05/11/2030 | 475000 | 0.4 |
| 300000 <sup>(1)</sup> | Pertamina Persero PT, 3.100%, 01/21/2030 | 279000 | 0.2 |
| 550000 | Pertamina Persero PT, 5.625%, 05/20/2043 | 509953 | 0.5 |
| 550000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 3.000%, 06/30/2030 | 501188 | 0.4 |
| 475000 <sup>(1)</sup> | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 | 471815 | 0.4 |
| 550000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 | 546312 | 0.5 |
| 500000 <sup>(1)</sup> | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 6.250%, 01/25/2049 | 485998 | 0.4 |
|  |  | **3269266** | **2.8** |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (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)** |
|  | **Kazakhstan: 0.4%** | **Kazakhstan: 0.4%** | **Kazakhstan: 0.4%** |
| 450000 <sup>(1)</sup> | Kaspi.KZ JSC, 6.250%, 03/26/2030 | $452833 | 0.4 |
|  | **Malaysia: 0.8%** |  |  |
| 1050000 <sup>(1)</sup> | Petronas Capital Ltd., 4.800%, 04/21/2060 | 919453 | 0.8 |
|  | **Mexico: 5.4%** |  |  |
| 825000 <sup>(1)</sup> | Banco Nacional de Comercio Exterior SNC/Cayman Islands, 5.875%, 05/07/2030 | 842753 | 0.7 |
| 450000 <sup>(1)(3)</sup> | Cemex SAB de CV, 7.200%, 12/31/2199 | 457703 | 0.4 |
| 566834 <sup>(1)</sup> | CFE Fibra E, 5.875%, 09/23/2040 | 551831 | 0.5 |
| 500000 <sup>(1)</sup> | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 500750 | 0.4 |
| 775000 <sup>(1)</sup> | Comision Federal de Electricidad, 6.045%, 01/28/2034 | 753377 | 0.7 |
| 700000 <sup>(1)</sup> | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 697025 | 0.6 |
| 350000 <sup>(1)</sup> | Comision Federal de Electricidad, 6.500%, 01/28/2051 | 338363 | 0.3 |
| 300000 | Petroleos Mexicanos, 5.500%, 06/27/2044 | 223215 | 0.2 |
| 375000 | Petroleos Mexicanos, 6.500%, 01/23/2029 | 376909 | 0.3 |
| 860000 | Petroleos Mexicanos, 6.700%, 02/16/2032 | 843875 | 0.7 |
| 275000 | Petroleos Mexicanos, 6.750%, 09/21/2047 | 220261 | 0.2 |
| 500000 | Petroleos Mexicanos, 6.950%, 01/28/2060 | 394300 | 0.4 |
|  |  | **6200362** | **5.4** |
|  | **Morocco: 0.8%** |  |  |
| 650000 <sup>(1)</sup> | OCP SA, 6.700%, 03/01/2036 | 671125 | 0.6 |
| 300000 <sup>(1)</sup> | OCP SA, 6.750%, 05/02/2034 | 313306 | 0.2 |
|  |  | **984431** | **0.8** |
|  | **Oman: 0.9%** |  |  |
| 1100000 <sup>(1)</sup> | OQ SAOC, 5.125%, 05/06/2028 | 1098625 | 0.9 |
|  | **Peru: 2.8%** |  |  |
| 790000 <sup>(1)(3)</sup> | Banco de Credito del Peru S.A., 6.450%, 07/30/2035 | 797900 | 0.7 |
| 400000 <sup>(1)</sup> | Corp Financiera de Desarrollo SA, 2.400%, 09/28/2027 | 388025 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |
|  | **Peru: (continued)** |  |  |
| 575000 <sup>(1)</sup> | Fondo MIVIVIENDA SA, 5.400%, 03/31/2031 | $575000 | 0.5 |
| 650000 <sup>(1)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 7.750%, 11/05/2038 | 697158 | 0.6 |
| 250000 | Petroleos del Peru SA, 4.750%, 06/19/2032 | 197333 | 0.2 |
| 800000 <sup>(1)</sup> | Petroleos del Peru SA, 5.625%, 06/19/2047 | 557000 | 0.5 |
|  |  | **3212416** | **2.8** |
|  | **Poland: 1.7%** |  |  |
| 675000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 5.375%, 05/22/2033 | 683016 | 0.6 |
| 925000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 5.750%, 07/09/2034 | 955025 | 0.8 |
| 350000 <sup>(1)</sup> | Bank Gospodarstwa Krajowego, 6.250%, 10/31/2028 | 367500 | 0.3 |
|  |  | **2005541** | **1.7** |
|  | **Saudi Arabia: 0.5%** |  |  |
| 580000 <sup>(1)</sup> | Avilease Capital Ltd., 4.750%, 11/12/2030 | 565500 | 0.5 |
|  | **South Africa: 2.0%** |  |  |
| 500000 <sup>(1)</sup> | Bidvest Group UK PLC, 6.200%, 09/17/2032 | 500525 | 0.5 |
| 800000 <sup>(1)</sup> | Eskom Holdings SOC Ltd., 6.350%, 08/10/2028 | 809439 | 0.7 |
| 975000 <sup>(1)</sup> | Sasol Financing USA LLC, 8.750%, 04/10/2033 | 975000 | 0.8 |
|  |  | **2284964** | **2.0** |
|  | **South Korea: 0.5%** |  |  |
| 600000 <sup>(1)</sup> | LG Energy Solution Ltd., 5.875%, 04/02/2036 | 595950 | 0.5 |
|  | **Thailand: 0.5%** |  |  |
| 400000 <sup>(1)(3)</sup> | GC Treasury Center Co. Ltd., 7.125%, 12/31/2199 | 389190 | 0.3 |
| 200000 <sup>(3)</sup> | GC Treasury Center Co. Ltd. RegS, 7.125%, 12/31/2199 | 194595 | 0.2 |
|  |  | **583785** | **0.5** |
|  | **Turkey: 1.0%** |  |  |
| 600000 <sup>(1)</sup> | TC Ziraat Bankasi AS, 7.250%, 02/04/2030 | 603120 | 0.5 |
| 300000 <sup>(1)(3)</sup> | TC Ziraat Bankasi AS, 8.375%, 12/31/2199 | 292639 | 0.3 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (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)** |
|  | **Turkey: (continued)** |  |  |
| 275000 <sup>(1)(3)</sup> | Yapi ve Kredi Bankasi AS, 7.550%, 06/11/2036 | $265779 | 0.2 |
|  |  | **1161538** | **1.0** |
|  | **United Arab Emirates: 1.6%** |  |  |
| 275000 <sup>(3)(4)</sup> | Aldar Properties PJSC, 5.875%, 04/14/2056 | 252893 | 0.2 |
| 550000 | DP World Crescent Ltd., 3.875%, 07/18/2029 | 522420 | 0.5 |
| 725000 <sup>(1)</sup> | MDGH GMTN RSC Ltd., 4.375%, 11/22/2033 | 687307 | 0.6 |
| 400000 <sup>(1)</sup> | MDGH GMTN RSC Ltd., 5.500%, 04/28/2033 | 405971 | 0.3 |
|  |  | **1868591** | **1.6** |
|  | **Venezuela: 1.0%** |  |  |
| 1000000 <sup>(6)</sup> | Petroleos de Venezuela SA, 9.000%, 11/17/2021 | 385500 | 0.4 |
| 1750000 <sup>(6)</sup> | Petroleos de Venezuela SA, 9.750%, 05/17/2035 | 719688 | 0.6 |
|  |  | **1105188** | **1.0** |
|  | Total Corporate Bonds/Notes |  |  |
|  | (Cost $33,952,243) | **35373447** | **30.6** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $98,361,564) | **104118317** | **90.2** |
| **SHORT-TERM INVESTMENTS: 12.3%** | **SHORT-TERM INVESTMENTS: 12.3%** |  |  |
|  | **Commercial Paper: 6.8%** |  |  |
| 1000000 | AutoZone, Inc., 3.960%, 04/01/2026 | 999892 | 0.9 |
| 1000000 | AutoZone, Inc., 3.970%, 04/06/2026 | 999347 | 0.9 |
| 1018000 | Concord Minutemen Capital Co. LLC, 3.750%, 04/06/2026 | 1017372 | 0.9 |
| 1000000 | Constellation Energy Generation LLC, 4.420%, 04/01/2026 | 999879 | 0.9 |
| 1000000 | McCormick & Co., Inc., 3.930%, 04/01/2026 | 999892 | 0.9 |
| 740000 | Parker-Hannifin Corp., 4.060%, 04/09/2026 | 739260 | 0.6 |
| 1000000 | PPL Electric Utilities Corp., 4.040%, 04/10/2026 | 998893 | 0.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | <br>**RA** |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: (continued)** | **SHORT-TERM INVESTMENTS: (continued)** |  |  |
|  | **Commercial Paper (continued)** |  |  |
| 1000000 | The Sherwin-Williams Co., 3.880%, 04/14/2026 | $998515 | 0.8 |
|  | Total Commercial Paper |  |  |
|  | (Cost $7,753,852) | **7753050** | **6.8** |
|  | **Repurchase Agreements: 1.5%** |  |  |
| 107005 <sup>(7)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $107,016, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $109,145, due 05/07/26-05/15/55) | 107005 | 0.1 |
| 658000 <sup>(7)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $658,066, collateralized by various U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $671,160, due 05/12/27-02/20/66) | 658000 | 0.6 |
| 1000000 <sup>(7)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $1,000,100, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,020,000, due 05/05/26-01/15/66) | 1000000 | 0.8 |
|  | Total Repurchase Agreements |  |  |
|  | (Cost $1,765,005) | **1765005** | **1.5** |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 4.0%** |  |  |
| 1000000 <sup>(8)</sup> | Goldman Sachs Financial Square Government Fund, Institutional Class, 3.530% | $1000000 | 0.9 |
| 3641000 <sup>(8)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 3.570% | 3641000 | 3.1 |
|  | Total Mutual Funds |  |  |
|  | (Cost $4,641,000) | **4641000** | **4.0** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $14,159,857) | **14159055** | **12.3** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $112,521,421)** | $**118277372** | **102.5** |
|  | **Liabilities in Excess of Other Assets** | **(2860720)** | **(2.5)** |
|  | **Net Assets** | $**115416652** | **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> | 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 March 31, 2026. |
| <sup>(3)</sup> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <sup>(4)</sup> | Security, or a portion of the security, is on loan. |
| <sup>(5)</sup> | Represents a zero coupon bond. Rate shown reflects the effective yield as of March 31, 2026. |
| <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 March 31, 2026. |

---

---

| | |
|:---|:---|
| <br>**Sector Diversification** | **Percentage**<br>**of Net Assets** |
| Sovereign Bonds | 59.6% |
| Energy | 7.9 |
| Financial | 7.5 |
| Basic Materials | 6.3 |
| Utilities | 5.9 |
| Consumer, Non-cyclical | 1.7 |
| Industrial | 0.8 |
| Consumer, Cyclical | 0.5 |
| Short-Term Investments | 12.3 |
| 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 March 31, 2026 (continued)</u>

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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>**March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Sovereign Bonds | $— | $68744870 | $— | $68744870 |
| Corporate Bonds/Notes |  | 35373447 |  | 35373447 |
| Short-Term Investments | 4641000 | 9518055 |  | 14159055 |
| Total Investments, at fair value | $4641000 | $113636372 | $— | $118277372 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 57126 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 57126 |
| Total Assets | $4698126 | $113636372 | $— | $118334498 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | $(176621) | $— |  | $(176621) |
| Total Liabilities | $(176621) | $— |  | $(176621) |

---

---

| | |
|:---|:---|
| ^ | 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 March 31, 2026, 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)** |
| <u>Long Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 2-Year Note | 31 | 06/30/26 | $6430804 | $(46231) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 7 | 06/30/26 | 757258 | (5099) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 22 | 06/18/26 | 2505250 | (60891) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | 18 | 06/18/26 | 2098125 | (63977) |
|  |  |  | $11791437 | $(176198) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | (8) | 06/18/26 | (888375) | (423) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | (26) | 06/18/26 | (2951406) | 57126 |
|  |  |  | $(3839781) | $56703 |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of March 31, 2026 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> | $57126 |
| **Total Asset Derivatives** |  | $57126 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $176621 |
| **Total Liability Derivatives** |  | $176621 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series EMHCD Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

\* 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 year ended March 31, 2026 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 | $(308249) |
| **Total** | $(308249) |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $(64615) |
| **Total** | $(64615) |

---

At March 31, 2026, 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 $112,374,107. | Cost for U.S. federal income tax purposes was $112,374,107. |
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $7071702 |
| Gross Unrealized Depreciation | (1287717) |
| Net Unrealized Appreciation | $5783985 |

---

See Accompanying Notes to Financial Statements.

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: 91.0%** | **CORPORATE BONDS/NOTES: 91.0%** |  |  |
|  | **Basic Materials: 4.7%** |  |  |
| 600000 <sup>(1)</sup> | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | $628180 | 0.2 |
| 765000 <sup>(1)</sup> | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 724376 | 0.2 |
| 720000 <sup>(1)</sup> | Capstone Copper Corp., 6.750%, 03/31/2033 | 715928 | 0.2 |
| 2010000 <sup>(2)</sup> | Celanese US Holdings LLC, 6.750%, 04/15/2033 | 2063452 | 0.7 |
| 562000 <sup>(1)</sup> | Chemours Co., 5.750%, 11/15/2028 | 556894 | 0.2 |
| 865000 <sup>(1)</sup> | Chemours Co., 7.875%, 03/15/2034 | 865605 | 0.3 |
| 1590000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 1518533 | 0.5 |
| 1065000 <sup>(1)</sup> | Cleveland-Cliffs, Inc., 7.625%, 01/15/2034 | 1041482 | 0.4 |
| 610000 <sup>(1)</sup> | Commercial Metals Co., 5.750%, 11/15/2033 | 604157 | 0.2 |
| 795000 <sup>(1)</sup> | Commercial Metals Co., 6.000%, 12/15/2035 | 784566 | 0.3 |
| 1250000 <sup>(1)</sup> | Constellium SE, 5.625%, 06/15/2028 | 1244587 | 0.4 |
| 1865000 <sup>(1)</sup> | New Gold, Inc., 6.875%, 04/01/2032 | 1929022 | 0.6 |
| 755000 <sup>(1)</sup> | Novelis Corp., 3.875%, 08/15/2031 | 673210 | 0.2 |
| 440000 <sup>(1)</sup> | Novelis Corp., 4.750%, 01/30/2030 | 416075 | 0.1 |
| 675000 | Olin Corp., 5.000%, 02/01/2030 | 647035 | 0.2 |
|  |  | **14413102** | **4.7** |
|  | **Communications: 11.3%** |  |  |
| 1165000 <sup>(1)</sup> | Arches Buyer, Inc., 4.250%, 06/01/2028 | 1126384 | 0.4 |
| 215000 <sup>(1)(2)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.250%, 01/15/2034 | 184131 | 0.1 |
| 2305000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 2155402 | 0.7 |
| 1995000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 1783900 | 0.6 |
| 1815000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 1801198 | 0.6 |
| 189000 <sup>(1)</sup> | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 188911 | 0.1 |
| 1150000 <sup>(1)</sup> | Cipher Compute LLC, 7.125%, 11/15/2030 | 1192871 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Communications: (continued)** |  |  |
| 2245000 <sup>(1)</sup> | Directv Financing LLC, 8.875%, 02/01/2030 | $2242812 | 0.7 |
| 597000 <sup>(1)</sup> | Directv Financing LLC / Directv Financing Co- Obligor, Inc., 5.875%, 08/15/2027 | 596738 | 0.2 |
| 835000 <sup>(1)</sup> | GCI LLC, 4.750%, 10/15/2028 | 808752 | 0.3 |
| 1265000 <sup>(1)</sup> | Gen Digital, Inc., 6.250%, 04/01/2033 | 1230726 | 0.4 |
| 915000 <sup>(1)</sup> | Gray Media, Inc., 9.625%, 07/15/2032 | 915793 | 0.3 |
| 975000 | Lamar Media Corp., 4.000%, 02/15/2030 | 931118 | 0.3 |
| 2245000 <sup>(1)</sup> | Level 3 Financing, Inc., 6.875%, 06/30/2033 | 2287904 | 0.7 |
| 1685000 <sup>(1)</sup> | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 1648378 | 0.5 |
| 1135000 <sup>(1)</sup> | McGraw-Hill Education, Inc., 5.750%, 08/01/2028 | 1123103 | 0.4 |
| 990000 <sup>(1)</sup> | Nexstar Media, Inc., 4.750%, 11/01/2028 | 974175 | 0.3 |
| 1190000 <sup>(1)</sup> | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 1148857 | 0.4 |
| 1200000 | Paramount Global, 6.875%, 04/30/2036 | 1053260 | 0.3 |
| 875000 | Paramount Global, 7.875%, 07/30/2030 | 913805 | 0.3 |
| 1040000 <sup>(1)</sup> | Sirius XM Radio LLC, 5.875%, 04/15/2032 | 1034135 | 0.3 |
| 1458000 <sup>(1)</sup> | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 1456847 | 0.5 |
| 1335000 <sup>(1)</sup> | Snap, Inc., 6.875%, 03/15/2034 | 1256747 | 0.4 |
| 1100000 <sup>(1)</sup> | Stagwell Global LLC, 5.625%, 08/15/2029 | 1048198 | 0.3 |
| 920000 <sup>(1)</sup> | SV RNO Property Owner 1 LLC, 5.875%, 03/01/2031 | 909961 | 0.3 |
| 1055000 <sup>(1)</sup> | Versant Media Group, Inc., 7.250%, 01/30/2031 | 1080553 | 0.3 |
| 645000 <sup>(1)</sup> | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 605733 | 0.2 |
| 400000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 344573 | 0.1 |
| 1000000 <sup>(1)</sup> | Vmed O2 UK Financing I PLC, 6.750%, 01/15/2033 | 894790 | 0.3 |
| 1775000 <sup>(1)</sup> | WULF Compute LLC, 7.750%, 10/15/2030 | 1876734 | 0.6 |
|  |  | **34816489** | **11.3** |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued) </u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Consumer, Cyclical: 16.2%** |  |  |
| 1260000 <sup>(1)</sup> | 1011778 BC ULC / New Red Finance, Inc., 6.125%, 06/15/2029 | $1281080 | 0.4 |
| 1005000 <sup>(1)</sup> | Acushnet Co., 5.625%, 12/01/2033 | 999736 | 0.3 |
| 1175000 <sup>(1)</sup> | Adient Global Holdings Ltd., 7.500%, 02/15/2033 | 1188865 | 0.4 |
| 510000 <sup>(1)</sup> | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 529334 | 0.2 |
| 795000 <sup>(1)(2)</sup> | Advance Auto Parts, Inc., 7.000%, 08/01/2030 | 805901 | 0.3 |
| 640000 <sup>(1)(2)</sup> | Advance Auto Parts, Inc., 7.375%, 08/01/2033 | 648746 | 0.2 |
| 630000 <sup>(1)</sup> | Allison Transmission, Inc., 5.875%, 06/01/2029 | 634791 | 0.2 |
| 620000 <sup>(1)</sup> | Allison Transmission, Inc., 5.875%, 12/01/2033 | 616537 | 0.2 |
| 955000 <sup>(1)(2)</sup> | American Airlines, Inc., 7.250%, 02/15/2028 | 961173 | 0.3 |
| 30834 <sup>(1)</sup> | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 30876 | 0.0 |
| 1700000 <sup>(1)</sup> | American Axle & Manufacturing, Inc., 7.750%, 10/15/2033 | 1655992 | 0.5 |
| 1625000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 1560132 | 0.5 |
| 1000000 <sup>(1)</sup> | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 962330 | 0.3 |
| 1585000 <sup>(1)</sup> | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 1605344 | 0.5 |
| 1260000 <sup>(1)</sup> | Carnival Corp., 5.750%, 08/01/2032 | 1261165 | 0.4 |
| 1015000 <sup>(1)(2)</sup> | Cinemark USA, Inc., 7.000%, 08/01/2032 | 1043833 | 0.3 |
| 1210000 <sup>(1)</sup> | Clarios Global L.P. / Clarios US Finance Co., 6.750%, 09/15/2032 | 1220442 | 0.4 |
| 735000 <sup>(1)</sup> | eG Global Finance PLC, 12.000%, 11/30/2028 | 786793 | 0.3 |
| 605000 <sup>(1)</sup> | Gap, Inc., 3.625%, 10/01/2029 | 565578 | 0.2 |
| 800000 <sup>(1)</sup> | Gap, Inc., 3.875%, 10/01/2031 | 725295 | 0.2 |
| 900000 <sup>(1)</sup> | Gates Corp., 6.875%, 07/01/2029 | 924560 | 0.3 |
| 835000 | Goodyear Tire & Rubber Co., 6.625%, 07/15/2030 | 817214 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Cyclical: (continued)** | **Consumer, Cyclical: (continued)** | |
| 430000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.750%, 09/15/2033 | $428398 | 0.1 |
| 485000 <sup>(1)</sup> | Hilton Domestic Operating Co., Inc., 5.875%, 04/01/2029 | 489988 | 0.2 |
| 940000 <sup>(1)</sup> | Hilton Domestic |  |  |
|  | Operating Co., Inc., 5.875%, 03/15/2033 | 946275 | 0.3 |
| 1485000 <sup>(1)</sup> | International Game Technology PLC, 5.250%, 01/15/2029 | 1473905 | 0.5 |
| 990000 <sup>(1)</sup> | Light & Wonder International, Inc., 6.250%, 10/01/2033 | 970665 | 0.3 |
| 560000 <sup>(1)</sup> | Light & Wonder International, Inc., 7.500%, 09/01/2031 | 575047 | 0.2 |
| 260000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 221933 | 0.1 |
| 124000 <sup>(1)</sup> | Macy's Retail Holdings LLC, 5.875%, 03/15/2030 | 123211 | 0.0 |
| 735000 <sup>(1)</sup> | Macy's Retail Holdings LLC, 6.125%, 03/15/2032 | 722733 | 0.2 |
| 495000 | MGM Resorts International, 4.750%, 10/15/2028 | 485999 | 0.2 |
| 545000 <sup>(2)</sup> | MGM Resorts International, 6.500%, 04/15/2032 | 549812 | 0.2 |
| 1260000 <sup>(1)</sup> | Michaels Cos., Inc., 8.500%, 03/15/2033 | 1227932 | 0.4 |
| 940000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 927752 | 0.3 |
| 150000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 150171 | 0.1 |
| 935000 <sup>(1)</sup> | NCL Corp. Ltd., 5.875%, 01/15/2031 | 908975 | 0.3 |
| 1325000 <sup>(1)</sup> | NCL Corp. Ltd., 6.750%, 02/01/2032 | 1315914 | 0.4 |
| 590000 | Newell Brands, Inc., 6.375%, 09/15/2027 | 594728 | 0.2 |
| 710000 <sup>(2)</sup> | Newell Brands, Inc., 6.625%, 05/15/2032 | 680201 | 0.2 |
| 705000 <sup>(1)</sup> | Newell Brands, Inc., 8.500%, 06/01/2028 | 728089 | 0.2 |
| 1005000 | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 04/01/2032 | 1029374 | 0.3 |
| 1180000 <sup>(1)</sup> | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 1016160 | 0.3 |
| 1165000 <sup>(1)</sup> | SeaWorld Parks & Entertainment, Inc., 5.250%, 08/15/2029 | 1113436 | 0.4 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Consumer, Cyclical: (continued)** | | |
| 815000 <sup>(1)</sup> | Somnigroup International, Inc., 3.875%, 10/15/2031 | $741657 | 0.2 |
| 585000 <sup>(1)</sup> | Somnigroup International, Inc., 4.000%, 04/15/2029 | 562979 | 0.2 |
| 1510000 <sup>(1)</sup> | Station Casinos LLC, 4.500%, 02/15/2028 | 1480823 | 0.5 |
| 730000 <sup>(1)</sup> | Tenneco, Inc., 8.000%, 11/17/2028 | 727849 | 0.2 |
| 1100000 <sup>(1)</sup> | Victoria's Secret & Co., 4.625%, 07/15/2029 | 1049035 | 0.3 |
| 1185000 <sup>(1)</sup> | Viking Cruises Ltd., 5.875%, 10/15/2033 | 1170812 | 0.4 |
| 385000 <sup>(1)</sup> | Viking Cruises Ltd., 7.000%, 02/15/2029 | 385902 | 0.1 |
| 1105000 <sup>(1)</sup> | Voyager Parent LLC, 9.250%, 07/01/2032 | 1147917 | 0.4 |
| 3000000 | Warnermedia Holdings, Inc., 4.279%, 03/15/2032 | 2658750 | 0.9 |
| 1155000 <sup>(1)(2)</sup> | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 1144160 | 0.4 |
| 1545000 | Yum! Brands, Inc., 3.625%, 03/15/2031 | 1428134 | 0.5 |
|  |  | **50004433** | **16.2** |
|  | **Consumer, Non-cyclical: 18.3%** |  |  |
| 1145000 <sup>(1)</sup> | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 1140874 | 0.4 |
| 1100000 <sup>(1)</sup> | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.750%, 03/31/2034 | 1077556 | 0.4 |
| 1315000 <sup>(1)</sup> | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.000%, 05/21/2030 | 1344952 | 0.4 |
| 1155000 <sup>(1)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 1129186 | 0.4 |
| 500000 <sup>(1)</sup> | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 488591 | 0.2 |
| 405000 <sup>(1)</sup> | APi Group DE, Inc., 4.125%, 07/15/2029 | 386010 | 0.1 |
| 435000 <sup>(1)</sup> | APi Group DE, Inc., 4.750%, 10/15/2029 | 421390 | 0.1 |
| 279000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.750%, 07/15/2027 | 278126 | 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)** | |
| 1280000 <sup>(1)</sup> | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | $1266182 | 0.4 |
| 1045000 <sup>(1)</sup> | Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 | 1080269 | 0.4 |
| 1050000 <sup>(1)</sup> | BellRing Brands, Inc., 7.000%, 03/15/2030 | 1051045 | 0.3 |
| 935000 <sup>(1)</sup> | Belron UK Finance PLC, 5.750%, 10/15/2029 | 941512 | 0.3 |
| 730000 <sup>(1)</sup> | Brink's Co., 6.500%, 06/15/2029 | 741797 | 0.2 |
| 280000 <sup>(1)</sup> | Brink's Co., 6.750%, 06/15/2032 | 283682 | 0.1 |
| 690000 <sup>(1)</sup> | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 650754 | 0.2 |
| 350000 <sup>(1)</sup> | CHS/Community Health Systems, Inc., 6.000%, 01/15/2029 | 346362 | 0.1 |
| 1050000 <sup>(1)(2)</sup> | Cimpress PLC, 7.375%, 09/15/2032 | 1042142 | 0.3 |
| 1145000 <sup>(1)</sup> | Concentra Escrow Issuer Corp., 6.875%, 07/15/2032 | 1185206 | 0.4 |
| 1020000 <sup>(1)</sup> | CPI CG, Inc., 10.000%, 07/15/2029 | 1077329 | 0.3 |
| 845000 <sup>(1)</sup> | DaVita, Inc., 3.750%, 02/15/2031 | 775310 | 0.3 |
| 1335000 <sup>(1)</sup> | DaVita, Inc., 4.625%, 06/01/2030 | 1284404 | 0.4 |
| 435000 <sup>(1)</sup> | DaVita, Inc., 6.750%, 07/15/2033 | 442881 | 0.1 |
| 1180000 <sup>(1)(2)</sup> | Embecta Corp., 5.000%, 02/15/2030 | 1092729 | 0.4 |
| 1360000 <sup>(1)</sup> | EquipmentShare. com, Inc., 8.000%, 03/15/2033 | 1405554 | 0.5 |
| 1260000 <sup>(1)</sup> | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 1283805 | 0.4 |
| 600000 <sup>(1)</sup> | Genmab A/S/Genmab Finance LLC, 6.250%, 12/15/2032 | 615574 | 0.2 |
| 1000000 <sup>(1)</sup> | Genmab A/S/Genmab Finance LLC, 7.250%, 12/15/2033 | 1047646 | 0.3 |
| 1095000 <sup>(1)</sup> | Global Medical Response, Inc., 7.375%, 10/01/2032 | 1138028 | 0.4 |
| 1095000 <sup>(1)</sup> | Herc Holdings, Inc., 7.000%, 06/15/2030 | 1123562 | 0.4 |
| 570000 <sup>(1)(2)</sup> | Herc Holdings, Inc., 7.250%, 06/15/2033 | 584587 | 0.2 |
| 925000 <sup>(1)</sup> | Industrial F&B Investments III, Inc., 7.750%, 02/11/2033 | 935409 | 0.3 |
| 1165000 <sup>(1)</sup> | Insulet Corp., 6.500%, 04/01/2033 | 1189974 | 0.4 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <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)** | |
| 1200000 <sup>(1)</sup> | Jazz Securities DAC, 4.375%, 01/15/2029 | $1171056 | 0.4 |
| 390000 <sup>(1)</sup> | LifePoint Health, Inc., 8.375%, 02/15/2032 | 416770 | 0.1 |
| 1510000 <sup>(1)</sup> | LifePoint Health, Inc., 9.875%, 08/15/2030 | 1598731 | 0.5 |
| 2720000 | Medline Borrower L.P., 5.250%, 10/01/2029 | 2697691 | 0.9 |
| 900000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 734386 | 0.2 |
| 200000 <sup>(1)</sup> | Organon & Co / Organon Foreign Debt Co-Issuer BV, 6.750%, 05/15/2034 | 178415 | 0.1 |
| 710000 <sup>(1)</sup> | Performance Food Group, Inc., 5.625%, 03/01/2034 | 685574 | 0.2 |
| 1160000 | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 1059406 | 0.3 |
| 1245000 <sup>(1)</sup> | Post Holdings, Inc., 4.625%, 04/15/2030 | 1196077 | 0.4 |
| 415000 <sup>(1)</sup> | Post Holdings, Inc., 6.250%, 10/15/2034 | 406761 | 0.1 |
| 875000 <sup>(1)</sup> | Post Holdings, Inc., 6.375%, 03/01/2033 | 862792 | 0.3 |
| 685000 <sup>(1)</sup> | Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 6.250%, 04/01/2029 | 686607 | 0.2 |
| 1100000 <sup>(1)</sup> | Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 | 1061398 | 0.3 |
| 1150000 <sup>(1)(2)</sup> | Select Medical Corp., 6.250%, 12/01/2032 | 1097132 | 0.4 |
| 590000 | Service Corp. International, 5.125%, 06/01/2029 | 586583 | 0.2 |
| 655000 | Service Corp. International, 5.750%, 10/15/2032 | 654559 | 0.2 |
| 950000 <sup>(1)</sup> | Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc., 6.750%, 08/15/2032 | 935313 | 0.3 |
| 1530000 <sup>(1)</sup> | Simmons Foods, Inc./ Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 03/01/2029 | 1473514 | 0.5 |
| 1075000 <sup>(1)</sup> | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 1111790 | 0.4 |
| 760000 <sup>(1)</sup> | Star Parent, Inc., 9.000%, 10/01/2030 | 788311 | 0.3 |
| 795000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 794707 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** | |
| 1575000 <sup>(1)</sup> | Tenet Healthcare Corp., 6.000%, 11/15/2033 | $1594902 | 0.5 |
| 55000 | Tenet Healthcare Corp., 6.125%, 10/01/2028 | 55159 | 0.0 |
| 1650000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 1662791 | 0.5 |
| 850000 | United Rentals North America, Inc., 4.875%, 01/15/2028 | 846875 | 0.3 |
| 320000 <sup>(1)</sup> | United Rentals North America, Inc., 6.125%, 03/15/2034 | 324428 | 0.1 |
| 1015000 <sup>(1)</sup> | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 1038377 | 0.3 |
| 420000 <sup>(1)</sup> | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 413465 | 0.1 |
| 1130000 <sup>(1)</sup> | Williams Scotsman, Inc., 6.625%, 04/15/2030 | 1148746 | 0.4 |
| 245000 <sup>(1)</sup> | Williams Scotsman, Inc., 7.375%, 10/01/2031 | 251371 | 0.1 |
|  |  | **56386115** | **18.3** |
|  | **Energy: 9.3%** |  |  |
| 740000 <sup>(1)</sup> | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | 738049 | 0.2 |
| 965000 <sup>(1)</sup> | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 965000 | 0.3 |
| 1005000 <sup>(1)</sup> | Archrock Services L.P. / Archrock Partners Finance Corp., 6.000%, 02/01/2034 | 995762 | 0.3 |
| 1000000 <sup>(1)</sup> | Civitas Resources, Inc., 8.750%, 07/01/2031 | 1045812 | 0.3 |
| 735000 <sup>(1)</sup> | CNX Resources Corp., 7.250%, 03/01/2032 | 757845 | 0.3 |
| 1120000 <sup>(1)</sup> | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 1137224 | 0.4 |
| 715000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.375%, 06/30/2033 | 721415 | 0.2 |
| 920000 <sup>(1)</sup> | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 952438 | 0.3 |
| 1105000 <sup>(1)</sup> | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 1146504 | 0.4 |
| 430000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 418822 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Energy: (continued)** |  |  |
| 235000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | $228567 | 0.1 |
| 520000 <sup>(1)</sup> | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.250%, 04/15/2032 | 503640 | 0.2 |
| 520000 <sup>(1)</sup> | Howard Midstream Energy Partners LLC, 7.375%, 07/15/2032 | 539654 | 0.2 |
| 1510000 <sup>(1)</sup> | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 1516439 | 0.5 |
| 1265000 <sup>(1)</sup> | Kodiak Gas Services LLC, 5.875%, 04/01/2031 | 1272049 | 0.4 |
| 1165000 <sup>(1)</sup> | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 1207651 | 0.4 |
| 725000 <sup>(1)</sup> | Northern Oil and Gas, Inc., 8.750%, 06/15/2031 | 754304 | 0.3 |
| 1165000 <sup>(1)</sup> | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 1169248 | 0.4 |
| 390000 | SM Energy Co., 6.625%, 01/15/2027 | 390232 | 0.1 |
| 1525000 <sup>(1)</sup> | Summit Midstream Holdings LLC, 8.625%, 10/31/2029 | 1569388 | 0.5 |
| 1635000 <sup>(1)</sup> | Sunoco L.P., 5.875%, 03/15/2034 | 1618100 | 0.5 |
| 1575000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 1519275 | 0.5 |
| 910000 <sup>(1)</sup> | Transocean International Ltd., 7.875%, 10/15/2032 | 972963 | 0.3 |
| 1185000 <sup>(1)</sup> | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 1210546 | 0.4 |
| 1265000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 1294368 | 0.4 |
| 1320000 <sup>(1)</sup> | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 1373454 | 0.5 |
| 1265000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.500%, 01/15/2034 | 1319495 | 0.4 |
| 1260000 <sup>(1)</sup> | Venture Global Plaquemines LNG LLC, 6.750%, 01/15/2036 | 1335351 | 0.4 |
|  |  | **28673595** | **9.3** |
|  | **Financial: 11.0%** |  |  |
| 290000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 6.750%, 07/01/2032 | 279732 | 0.1 |
| 1375000 <sup>(1)</sup> | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 1382327 | 0.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** |  |  |
| 2155000 <sup>(1)</sup> | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | $2118791 | 0.7 |
| 940000 <sup>(2)</sup> | Ally Financial, Inc., 6.700%, 02/14/2033 | 947271 | 0.3 |
| 1400000 <sup>(1)(2)</sup> | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 1237369 | 0.4 |
| 1300000 <sup>(1)</sup> | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 1292325 | 0.4 |
| 355000 <sup>(1)</sup> | Freedom Mortgage Corp., 6.625%, 01/15/2027 | 354756 | 0.1 |
| 720000 <sup>(1)</sup> | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 777396 | 0.3 |
| 920000 <sup>(1)</sup> | Freedom Mortgage Holdings LLC, 8.375%, 04/01/2032 | 905951 | 0.3 |
| 1700000 <sup>(1)</sup> | Icahn Enterprises L.P. / Icahn Enterprises Finance Corp., 10.000%, 11/15/2029 | 1676877 | 0.5 |
| 1880000 <sup>(1)</sup> | Iron Mountain, Inc., 5.250%, 07/15/2030 | 1827609 | 0.6 |
| 575000 <sup>(1)</sup> | Iron Mountain, Inc., 6.250%, 01/15/2033 | 573621 | 0.2 |
| 395000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 4.500%, 11/15/2029 | 383106 | 0.1 |
| 1480000 <sup>(1)</sup> | Jane Street Group / JSG Finance, Inc., 6.125%, 11/01/2032 | 1464836 | 0.5 |
| 825000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 769564 | 0.2 |
| 780000 <sup>(1)</sup> | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 757609 | 0.2 |
| 1020000 | Navient Corp., 4.875%, 03/15/2028 | 963497 | 0.3 |
| 1995000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 1925291 | 0.6 |
| 1200000 | OneMain Finance Corp., 6.500%, 03/15/2033 | 1148209 | 0.4 |
| 1700000 <sup>(1)</sup> | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 1706569 | 0.6 |
| 1745000 <sup>(1)</sup> | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 1767509 | 0.6 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** | | |
|  | **Financial: (continued)** |  |  |
| 920000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 6.875%, 02/15/2033 | $881035 | 0.3 |
| 920000 <sup>(1)</sup> | PennyMac Financial Services, Inc., 7.875%, 12/15/2029 | 941681 | 0.3 |
| 1605000 <sup>(1)</sup> | PRA Group, Inc., 5.000%, 10/01/2029 | 1483187 | 0.5 |
| 650000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 5.750%, 03/15/2034 | 641968 | 0.2 |
| 515000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 06/15/2033 | 524778 | 0.2 |
| 595000 <sup>(1)</sup> | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 607858 | 0.2 |
| 1305000 <sup>(1)</sup> | Rocket Cos., Inc., 6.125%, 08/01/2030 | 1317850 | 0.4 |
| 1645000 <sup>(1)</sup> | Rocket Cos., Inc., 6.375%, 08/01/2033 | 1664730 | 0.5 |
| 610000 <sup>(1)</sup> | Starwood Property Trust, Inc., 6.500%, 07/01/2030 | 623316 | 0.2 |
| 1050000 <sup>(1)</sup> | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 1079608 | 0.4 |
|  |  | **34026226** | **11.0** |
|  | **Industrial: 13.4%** |  |  |
| 810000 <sup>(1)</sup> | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 824983 | 0.3 |
| 1020000 <sup>(1)</sup> | AmeriTex HoldCo Intermediate LLC, 7.625%, 08/15/2033 | 1053790 | 0.4 |
| 685000 <sup>(1)</sup> | Amsted Industries, Inc., 6.375%, 03/15/2033 | 688963 | 0.2 |
| 770000 <sup>(1)</sup> | Arcosa, Inc., 6.875%, 08/15/2032 | 789568 | 0.3 |
| 1260000 <sup>(1)</sup> | Avient Corp., 6.250%, 11/01/2031 | 1269858 | 0.4 |
| 915000 <sup>(1)</sup> | Bombardier, Inc., 6.750%, 06/15/2033 | 946072 | 0.3 |
| 1710000 <sup>(1)</sup> | Builders FirstSource, Inc., 6.375%, 06/15/2032 | 1709849 | 0.6 |
| 1020000 <sup>(1)</sup> | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 1010411 | 0.3 |
| 1295000 <sup>(1)</sup> | Chart Industries, Inc., 7.500%, 01/01/2030 | 1347003 | 0.4 |
| 1020000 <sup>(1)</sup> | Clean Harbors, Inc., 6.375%, 02/01/2031 | 1036596 | 0.3 |
| 1530000 <sup>(1)</sup> | Clydesdale Acquisition Holdings, Inc., 6.750%, 04/15/2032 | 1449420 | 0.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Industrial: (continued)** |  |  |
| 700000 | Crown Americas LLC, 5.875%, 06/01/2033 | $700324 | 0.2 |
| 1770000 <sup>(1)</sup> | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 1802407 | 0.6 |
| 890000 <sup>(1)</sup> | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 876630 | 0.3 |
| 880000 <sup>(1)(2)</sup> | Energizer Holdings, Inc., 6.000%, 09/15/2033 | 825249 | 0.3 |
| 670000 <sup>(1)</sup> | Entegris Escrow Corp., 5.950%, 06/15/2030 | 674712 | 0.2 |
| 590000 <sup>(1)(2)</sup> | Entegris, Inc., 3.625%, 05/01/2029 | 561303 | 0.2 |
| 1285000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | 1285638 | 0.4 |
| 415000 <sup>(1)</sup> | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 406533 | 0.1 |
| 720000 <sup>(1)</sup> | GFL Environmental Holdings US, Inc., 5.500%, 02/01/2034 | 707073 | 0.2 |
| 883000 <sup>(1)</sup> | GFL Environmental, Inc., 4.375%, 08/15/2029 | 859727 | 0.3 |
| 445000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 437060 | 0.2 |
| 640000 <sup>(1)</sup> | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | 670052 | 0.2 |
| 1410000 <sup>(1)</sup> | Imola Merger Corp., 4.750%, 05/15/2029 | 1371364 | 0.5 |
| 300000 <sup>(1)</sup> | Owens-Brockway Glass Container, Inc., 6.625%, 05/13/2027 | 300814 | 0.1 |
| 800000 <sup>(1)(2)</sup> | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 767083 | 0.3 |
| 2020000 <sup>(1)</sup> | Quikrete Holdings, Inc., 6.375%, 03/01/2032 | 2049801 | 0.7 |
| 640000 <sup>(1)</sup> | Sealed Air Corp., 4.000%, 12/01/2027 | 638799 | 0.2 |
| 650000 <sup>(1)</sup> | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 658551 | 0.2 |
| 1225000 <sup>(1)</sup> | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 1137119 | 0.4 |
| 1555000 <sup>(1)</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 1604721 | 0.5 |
| 780000 <sup>(1)</sup> | Standard Industries, Inc., 3.375%, 01/15/2031 | 699665 | 0.2 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |
|  | **Industrial: (continued)** |  |  |
| 1090000 <sup>(1)</sup> | Standard Industries, Inc., 4.375%, 07/15/2030 | $1028061 | 0.3 |
| 1165000 <sup>(1)</sup> | Stonepeak Nile Parent LLC, 7.250%, 03/15/2032 | 1215097 | 0.4 |
| 735000 <sup>(1)</sup> | Terex Corp., 6.250%, 10/15/2032 | 740471 | 0.2 |
| 715000 <sup>(1)</sup> | TransDigm, Inc., 6.000%, 01/15/2033 | 715396 | 0.2 |
| 345000 <sup>(1)</sup> | TransDigm, Inc., 6.250%, 01/31/2034 | 349089 | 0.1 |
| 605000 <sup>(1)</sup> | TransDigm, Inc., 6.375%, 05/31/2033 | 602252 | 0.2 |
| 1145000 <sup>(1)</sup> | TransDigm, Inc., 6.625%, 03/01/2032 | 1169182 | 0.4 |
| 1000000 <sup>(1)</sup> | TransDigm, Inc., 6.750%, 01/31/2034 | 1013855 | 0.3 |
| 900000 <sup>(1)</sup> | Waste Pro USA, Inc., 7.000%, 02/01/2033 | 912376 | 0.3 |
| 985000 <sup>(1)</sup> | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 954735 | 0.3 |
| 1280000 <sup>(1)</sup> | WESCO Distribution, Inc., 5.500%, 04/15/2034 | 1263807 | 0.4 |
|  |  | **41125459** | **13.4** |
|  | **Technology: 4.4%** |  |  |
| 930000 <sup>(1)</sup> | Amentum Escrow Corp., 7.250%, 08/01/2032 | 963262 | 0.3 |
| 930000 <sup>(1)</sup> | CACI International, Inc., 6.375%, 06/15/2033 | 947313 | 0.3 |
| 2120000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 2070297 | 0.7 |
| 970000 <sup>(1)</sup> | Cloud Software Group, Inc., 6.625%, 08/15/2033 | 863280 | 0.3 |
| 885000 <sup>(1)(2)</sup> | CoreWeave, Inc., 9.250%, 06/01/2030 | 860764 | 0.3 |
| 565000 <sup>(1)</sup> | Fair Isaac Corp., 6.000%, 05/15/2033 | 554729 | 0.2 |
| 950000 <sup>(1)</sup> | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 945344 | 0.3 |
| 800000 <sup>(1)</sup> | McAfee Corp., 7.375%, 02/15/2030 | 661829 | 0.2 |
| 1025000 <sup>(1)</sup> | OAK-Eagle Acquireco, Inc., 7.250%, 07/01/2033 | 1062663 | 0.3 |
| 1025000 <sup>(1)</sup> | OAK-Eagle Acquireco, Inc., 8.750%, 07/01/2034 | 1073735 | 0.3 |
| 570000 <sup>(1)</sup> | Open Text Corp., 3.875%, 12/01/2029 | 510021 | 0.2 |
| 1070000 <sup>(1)</sup> | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 957001 | 0.3 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | **Value** | **Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **CORPORATE BONDS/NOTES: (continued)** | **CORPORATE BONDS/NOTES: (continued)** |  |  |  |
|  | **Technology: (continued)** |  |  |  |
| 1070000 <sup>(1)</sup> | Playtika Holding Corp., 4.250%, 03/15/2029 | $| 836098 | 0.3 |
| 1340000 <sup>(1)</sup> | UKG, Inc., 6.875%, 02/01/2031 |  | 1310748 | 0.4 |
|  |  |  | **13617084** | **4.4** |
|  | **Utilities: 2.4%** |  |  |  |
| 930000 <sup>(1)</sup> | Alpha Generation LLC, 6.750%, 10/15/2032 |  | 944287 | 0.3 |
| 1050000 <sup>(1)</sup> | Lightning Power LLC, 7.250%, 08/15/2032 |  | 1092260 | 0.4 |
| 855000 <sup>(1)</sup> | NRG Energy, Inc., 3.625%, 02/15/2031 |  | 787777 | 0.3 |
| 1375000 <sup>(1)</sup> | NRG Energy, Inc., 6.000%, 02/01/2033 |  | 1376231 | 0.4 |
| 870000 <sup>(1)</sup> | NRG Energy, Inc., 6.250%, 11/01/2034 |  | 877645 | 0.3 |
| 1025000 <sup>(3)</sup> | PG&E Corp., 6.850%, 09/15/2056 |  | 1013277 | 0.3 |
| 1260000 <sup>(1)</sup> | Talen Energy Supply LLC, 6.250%, 02/01/2034 |  | 1246850 | 0.4 |
|  |  |  | **7338327** | **2.4** |
|  | Total Corporate Bonds/ Notes |  |  |  |
|  | (Cost $281,372,153) |  | **280400830** | **91.0** |
| **BANK LOANS: 6.2%** | **BANK LOANS: 6.2%** |  |  |  |
|  | **Consumer, Cyclical: 1.3%** |  |  |  |
| 1000000 | AI Aqua Merger Sub Inc FKA Osmosis Buyer Limited, 2026 Term Loan B, 6.411%, (TSFR3M+2.750%), 07/31/2028 |  | 997898 | 0.3 |
| 1000000 | EG America LLC, Term Loan B, 6.918%, (TSFR1M+2.250%), 02/10/2031 |  | 1002500 | 0.4 |
| 1000000 <sup>(4)</sup> | Flynn Restaurant Group LP, Add-On Tl, 01/28/2032 |  | 983750 | 0.3 |
| 997468 | LC Ahab US Bidco LLC, Initial Term Loan, 6.168%, (TSFR1M+2.250%), 05/01/2031 |  | 989364 | 0.3 |
|  |  |  | **3973512** | **1.3** |
|  | **Consumer, Non-cyclical: 2.6%** | **Consumer, Non-cyclical: 2.6%** | **Consumer, Non-cyclical: 2.6%** |  |
| 1025000 | Camelot US Acquisition I Co, Term Loan B-1, 6.418%, (TSFR1M+2.250%), 01/31/2031 |  | 891750 | 0.3 |
| 1000000 | Electron Bidco Inc., 2026 Term Loan, 6.168%, (TSFR1M+2.250%), 02/06/2033 |  | 999453 | 0.3 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <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)** |  |
| 1000000 | Ensemble RCM LLC, Term Loan B, 6.660%, (TSFR3M+3.000%), 02/09/2033 | $989464 | 0.3 |
| 997500 | Fugue Finance B.V., 15th Amd USD Term, 5.921%, (TSFR3M+2.250%), 01/09/2032 | 987525 | 0.3 |
| 1000000 | Hopper Merger Sub, Inc., Tranche B, 5.930%, 01/14/2033 | 988693 | 0.3 |
| 1100000 <sup>(4)</sup> | Mister Car Wash Holdings Inc., Incremental First Lien Term Loan B, 03/27/2031 | 1090925 | 0.4 |
| 1000000 | Nourish Buyer I, Inc., 2026-1 Term Loans, 7.669%, (TSFR3M+4.000%), 07/09/2032 | 1003750 | 0.4 |
| 1000000 <sup>(4)</sup> | Primo Brands (BlueTriton Brands/ Nestl Waters NA) Term Loan B 275-15, Tranche B, 6.402%, 03/31/2031 | 1002625 | 0.3 |
|  |  | **7954185** | **2.6** |
|  | **Industrial: 2.0%** |  |  |
| 882353 <sup>(4)</sup> | Azuria Water Solutions, Inc., 6.430%, 04/25/2033 | 875735 | 0.3 |
| 117647 <sup>(4)</sup> | Azuria Water Solutions, Inc., Tranche B-DD, 6.430%, 04/25/2033 | 116642 | 0.1 |
| 997487 | Chariot Buyer LLC, 2025 New Term Loan B, 6.418%, (TSFR1M+2.250%), 09/08/2032 | 988993 | 0.3 |
| 1000000 | Graham Packaging Company Inc., Initial Term Loan, 5.918%, (TSFR1M+2.250%), 01/26/2033 | 990625 | 0.3 |
| 1000000 | Hillenbrand Inc., Term Loan B, 7.168%, (TSFR1M+2.250%), 02/10/2033 | 987500 | 0.3 |
| 997501 | Pro Mach, Amendment No 6 Term Loan, 6.418%, (TSFR1M+2.250%), 10/18/2032 | 996441 | 0.3 |
| 1100000 <sup>(4)</sup> | TK Elevator Midco Gmbh, Term Loan B, 04/30/2030 | 1103438 | 0.4 |
|  |  | **6059374** | **2.0** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **BANK LOANS: (continued)** | **BANK LOANS: (continued)** |  |  |
|  | **Utilities: 0.3%** |  |  |
| 1000000 | Discovery Energy Holding Corporation, Term Loan, 6.700%, (TSFR3M+3.000%), 05/01/2031 | $1000000 | 0.3 |
|  | Total Bank Loans <br> (Cost $19,160,400) | **18987071** | **6.2** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $300,532,553) | **299387901** | **97.2** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | |<br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **SHORT-TERM INVESTMENTS: 9.2%** | **SHORT-TERM INVESTMENTS: 9.2%** |  |  |
|  | **Repurchase Agreements: 3.8%** |  |  |
| 2327248 <sup>(5)</sup> | Cantor Fitzgerald Securities, Repurchase Agreement dated 03/31/2026, 3.690%, due 04/01/2026 (Repurchase Amount $2,327,483, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.000%- 6.869%, Market Value plus accrued interest $2,373,793, due 11/30/27-10/20/75) | 2327248 | 0.8 |
| 201535 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $201,555, collateralized by various U.S. Government Securities, 0.000%-4.750%, Market Value plus accrued interest $205,566, due 05/07/26-05/15/55) | 201535 | 0.1 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <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)** | **Repurchase Agreements (continued)** |
| 3157376 <sup>(5)</sup> | Daiwa Capital Markets America Inc., Repurchase Agreement dated 03/31/2026, 3.670%, due 04/01/2026 (Repurchase Amount $3,157,693, collateralized by various U.S. Government Agency Obligations, 2.000%-7.000%, Market Value plus accrued interest $3,220,524, due 05/12/27-02/20/66) | $3157376 | 1 |
| 2117782 <sup>(5)</sup> | Jefferies LLC, Repurchase Agreement dated 03/31/2026, 3.700%, due 04/01/2026 (Repurchase Amount $2,117,997, collateralized by various U.S. Government Agency Obligations, 0.000%-5.350%, Market Value plus accrued interest $2,160,150, due 06/22/26-02/23/44) | 2117782 | 0.7 |
| 642705 <sup>(5)</sup> | Mizuho Securities USA Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $642,769, collateralized by various U.S. Government Securities, 0.750%-4.625%, Market Value plus accrued interest $655,559, due 11/30/26-02/15/32) | 642705 | 0.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** | **Repurchase Agreements (continued)** |
| 3157376 <sup>(5)</sup> | RBC Dominion Securities Inc., Repurchase Agreement dated 03/31/2026, 3.660%, due 04/01/2026 (Repurchase Amount $3,157,693, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $3,220,524, due 05/05/26-01/15/66) | 3157376 | 1 |
|  | Total Repurchase Agreements |  |  |
|  | (Cost $11,604,022) | **11604022** | **3.8** |
|  | **Time Deposits: 0.8%** | **Time Deposits: 0.8%** | **Time Deposits: 0.8%** |
| 320000 <sup>(5)</sup> | Canadian Imperial Bank of Commerce, 3.630%, 04/01/2026 | 320000 | 0.1 |
| 290000 <sup>(5)</sup> | Cooperatieve Rabobank UA, 3.620%, 04/01/2026 | 290000 | 0.1 |
| 230000 <sup>(5)</sup> | DZ Bank AG, 3.610%, 04/01/2026 | 230000 | 0.1 |
| 310000 <sup>(5)</sup> | Landesbank Hessen Thueringen Girozentrale, 3.640%, 04/01/2026 | 310000 | 0.1 |
| 330000 <sup>(5)</sup> | Mizuho Bank Ltd., 3.640%, 04/01/2026 | 330000 | 0.1 |
| 330000 <sup>(5)</sup> | Royal Bank of Canada, 3.700%, 04/01/2026 | 330000 | 0.1 |
| 310000 <sup>(5)</sup> | Societe Generale S.A., 3.620%, 04/01/2026 | 310000 | 0.1 |
| 330000 <sup>(5)</sup> | Toronto-Dominion Bank, 3.640%, 04/01/2026 | 330000 | 0.1 |
|  | Total Time Deposits |  |  |
|  | (Cost $2,450,000) | **2450000** | **0.8** |
|  | **Commercial Paper: 3.2%** | **Commercial Paper: 3.2%** | **Commercial Paper: 3.2%** |
| 5000000 | AutoZone, Inc., 3.970%, 04/06/2026 | 4996735 | 1.6 |
| 4000000 | Enterprise Products Operating LLC, 4.010%, 04/01/2026 | 3999561 | 1.3 |
| 1000000 | PPL Electric Utilities Corp., 4.040%, 04/10/2026 | 998893 | 0.3 |
|  | Total Commercial Paper |  |  |
|  | (Cost $9,996,303) | **9995189** | **3.2** |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series HYB Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 1.4%** |  |  |
| 4237000 <sup>(6)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 3.570% |  |  |
|  | (Cost $4,237,000) | $**4237000** | **1.4** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $28,287,325) | $**28286211** | **9.2** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $328,819,878)** | $**327674112** | **106.4** |
|  | **Liabilities in Excess of Other Assets** | **(19718303)** | **(6.4)** |
|  | **Net Assets** | $**307955809** | **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> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <sup>(4)</sup> | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| <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 March 31, 2026. |

---

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

<u>Voya VACS Series HYB Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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>**March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Corporate Bonds/Notes | $— | $280400830 | $— | $280400830 |
| Bank Loans |  | 18987071 |  | 18987071 |
| Short-Term Investments | 4237000 | 24049211 |  | 28286211 |
| Total Investments, at fair value | $4237000 | $323437112 | $&nbsp;&nbsp;&nbsp;&nbsp; — | $327674112 |

---

^ See Note 2, "Significant Accounting Policies" in the Notes to Financial Statements for additional information.

At March 31, 2026, 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 $329,024,412. | Cost for U.S. federal income tax purposes was $329,024,412. |
| Net unrealized depreciation consisted of: |  |
| Gross Unrealized Appreciation | $1916412 |
| Gross Unrealized Depreciation | (3266712) |
| Net Unrealized Depreciation | $(1350300) |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Principal**<br>**Amount†** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES: 36.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 36.1%** | **COMMERCIAL MORTGAGE-BACKED SECURITIES: 36.1%** |  |
| 1000000 <sup>(1)(2)</sup> | 1345T 2025-AOA A, 5.273%, (TSFR1M + 1.600%), 06/15/2042 | $998442 | 0.6 |
| 1250000 <sup>(1)(2)</sup> | ACREC LLC 2026-FL4 AS, 5.280%, (TSFR1M + 1.600%), 01/18/2043 | 1252691 | 0.7 |
| 1000000 <sup>(1)(2)</sup> | ACRES Commercial Realty Issuer LLC 2026-FL4 A, 5.110%, (TSFR1M + 1.450%), 08/18/2044 | 1001685 | 0.6 |
| 776962 <sup>(1)</sup> | Arbor Multifamily Mortgage Securities Trust 2021-MF3 D, 2.000%, 10/15/2054 | 623788 | 0.4 |
| 1250000 <sup>(1)(2)</sup> | Arbor Realty Commercial Real Estate Notes LLC 2026-FL1 A, 5.170%, (TSFR1M + 1.500%), 09/20/2043 | 1252451 | 0.7 |
| 500000 <sup>(1)(2)</sup> | Atrium Hotel Portfolio Trust 2017-ATRM C, 5.620%, (TSFR1M + 1.947%), 12/15/2036 | 486625 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | BAHA Trust 2024-MAR B, 6.385%, 12/10/2041 | 1032173 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | BAMLL Trust 2025-ASHF A, 5.523%, (TSFR1M + 1.850%), 02/15/2042 | 997235 | 0.6 |
| 15775385 <sup>(2)(3)</sup> | BANK 2020-BN27 XA, 1.154%, 04/15/2063 | 556450 | 0.3 |
| 5075371 <sup>(2)(3)</sup> | BANK 2020-BN30 XA, 1.248%, 12/15/2053 | 226167 | 0.1 |
| 900000 <sup>(2)</sup> | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3 C, 4.352%, 02/15/2050 | 882449 | 0.5 |
| 12731004 <sup>(2)(3)</sup> | Barclays Commercial Mortgage Trust 2019-C4 XA, 1.514%, 08/15/2052 | 488866 | 0.3 |
| 4967988 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2019-B10 XA, 1.208%, 03/15/2062 | 151842 | 0.1 |
| 4712246 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2020-B22 XA, 1.489%, 01/15/2054 | 270847 | 0.2 |
| 9988313 <sup>(2)(3)</sup> | Benchmark Mortgage Trust 2021-B25 XA, 1.063%, 04/15/2054 | 408159 | 0.2 |
| 1000000 | Benchmark Mortgage Trust 2025-V17 A3, 5.075%, 09/15/2058 | 1013498 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | BOCA Commercial Mortgage Trust 2025-BOCA A, 5.273%, (TSFR1M + 1.600%), 12/15/2042 | 1002268 | 0.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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> | BSPRT Issuer LLC 2025-FL12 A, 5.064%, (TSFR1M + 1.386%), 01/17/2043 | $999715 | 0.6 |
| 723659 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2019-IMC D, 5.619%, (TSFR1M + 1.946%), 04/15/2034 | 716659 | 0.4 |
| 1149108 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2024-AIRC B, 5.813%, (TSFR1M + 2.141%), 08/15/2041 | 1152021 | 0.7 |
| 1250000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2026-CSMO A, 5.073%, (TSFR1M + 1.400%), 02/15/2043 | 1251874 | 0.7 |
| 1000000 <sup>(1)(2)</sup> | BX Commercial Mortgage Trust 2026-XL6 B, 5.123%, (TSFR1M + 1.450%), 03/15/2043 | 994237 | 0.6 |
| 500000 <sup>(1)(2)</sup> | BX Trust 2021-LGCY E, 5.487%, (TSFR1M + 1.814%), 10/15/2036 | 499662 | 0.3 |
| 289103 <sup>(1)(2)</sup> | BX Trust 2021-RISE C, 5.237%, (TSFR1M + 1.564%), 11/15/2036 | 289101 | 0.2 |
| 778260 <sup>(1)(2)</sup> | BX Trust 2025-LUNR A, 5.173%, (TSFR1M + 1.500%), 06/15/2040 | 780065 | 0.5 |
| 5092340 <sup>(2)(3)</sup> | CD Mortgage Trust 2019-CD8 XA, 1.376%, 08/15/2057 | 179026 | 0.1 |
| 1250000 <sup>(1)(2)</sup> | CIP Commercial Mortgage Trust 2025-SBAY A, 5.073%, (TSFR1M + 1.400%), 10/15/2037 | 1251000 | 0.7 |
| 500000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM A2, 5.867%, 12/10/2041 | 502186 | 0.3 |
| 500000 <sup>(1)(2)</sup> | COMM Mortgage Trust 2024-CBM B, 6.511%, 12/10/2041 | 508641 | 0.3 |
| 1250000 <sup>(1)(2)</sup> | DBC Mortgage Trust 2025-DBC A, 5.023%, (TSFR1M + 1.350%), 11/15/2042 | 1250967 | 0.7 |
| 1250000 <sup>(1)(2)</sup> | DK Trust 2024-SPBX D, 6.423%, (TSFR1M + 2.750%), 03/15/2034 | 1252532 | 0.7 |
| 1250000 <sup>(1)(2)</sup> | Extended Stay America Trust 2025-ESH A, 4.973%, (TSFR1M + 1.300%), 10/15/2042 | 1251641 | 0.7 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)(2)</sup> | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU A, 5.123%, (TSFR1M + 1.450%), 12/15/2039 | $1000912 | 0.6 |
| 3876872 <sup>(2)(3)</sup> | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 0.978%, 08/25/2036 | 273682 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2025-FL10 A, 5.062%, (TSFR1M + 1.385%), 08/19/2042 | 1000026 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | FS Rialto Issuer LLC 2026-FL11 B, 5.565%, (TSFR1M + 1.900%), 01/19/2044 | 1001304 | 0.6 |
| 2235423 <sup>(1)(4)</sup> | GAM Re-REMIC Trust 2021-FRR1 1C, 0.000%, 11/29/2050 | 2082362 | 1.2 |
| 3147000 <sup>(1)(4)</sup> | GAM Re-REMIC Trust 2021-FRR1 1D, 0.000%, 11/29/2050 | 2897013 | 1.7 |
| 134053 <sup>(1)(4)</sup> | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 131659 | 0.1 |
| 653492 <sup>(1)</sup> | GS Mortgage Securities Trust 2019-GC39 D, 3.000%, 05/10/2052 | 513121 | 0.3 |
| 542067 <sup>(1)</sup> | GS Mortgage Securities Trust 2021-GSA3 D, 2.250%, 12/15/2054 | 325741 | 0.2 |
| 1250000 <sup>(1)(2)</sup> | GS REFT Issuer Ltd. 2026-FL1 A, 5.170%, (TSFR1M + 1.500%), 04/19/2043 | 1252340 | 0.7 |
| 1000000 <sup>(1)(2)</sup> | GSAT Trust 2025-BMF A, 5.173%, (TSFR1M + 1.500%), 07/15/2040 | 1000475 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | GSJP Trust 2025-BEDS A, 5.173%, (TSFR1M + 1.500%), 12/15/2042 | 995241 | 0.6 |
| 600000 <sup>(1)(2)</sup> | HYT Commercial Mortgage Trust 2024-RGCY B, 6.013%, (TSFR1M + 2.341%), 09/15/2041 | 601075 | 0.4 |
| 881000 <sup>(1)(2)</sup> | INTOWN Mortgage Trust 2025-STAY C, 5.923%, (TSFR1M + 2.250%), 03/15/2042 | 881098 | 0.5 |
| 1114012 <sup>(1)(2)</sup> | KSL Commercial Mortgage Trust 2024-HT2 A, 5.215%, (TSFR1M + 1.542%), 12/15/2039 | 1113410 | 0.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** |
| 750000 <sup>(1)(2)</sup> | KSL Commercial Mortgage Trust 2025-MH A, 5.266%, (TSFR1M + 1.594%), 12/15/2042 | $749173 | 0.4 |
| 173608 <sup>(1)(2)</sup> | LAQ Mortgage Trust 2023-LAQ D, 7.861%, (TSFR1M + 4.188%), 03/15/2036 | 168628 | 0.1 |
| 1000000 <sup>(1)(2)</sup> | LoanCore 2025 Issuer LLC 2025-CRE8 C, 5.820%, (TSFR1M + 2.141%), 08/17/2042 | 1000264 | 0.6 |
| 1000000 <sup>(2)</sup> | LQR Trust 2025-CALI A, 5.273%, (TSFR1M + 1.600%), 01/15/2043 | 994991 | 0.6 |
| 1250000 <sup>(1)(2)</sup> | MAD Commercial Mortgage Trust 2025-11MD A, 4.437%, 10/15/2042 | 1245575 | 0.7 |
| 750000 <sup>(1)(2)</sup> | MF1 LLC 2026-FL21 A, 5.030%, (TSFR1M + 1.350%), 02/18/2041 | 749206 | 0.4 |
| 1000000 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C29 B, 4.039%, 05/15/2049 | 952010 | 0.6 |
| 700000 <sup>(1)(2)</sup> | NYC Commercial Mortgage Trust 2025-28L B, 5.007%, 11/05/2038 | 699925 | 0.4 |
| 1000000 <sup>(1)(2)</sup> | ORL Trust 2024-GLKS A, 5.165%, (TSFR1M + 1.493%), 12/15/2039 | 1001249 | 0.6 |
| 219602 <sup>(1)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A C, 3.250%, 12/25/2050 | 215220 | 0.1 |
| 3011482 <sup>(1)</sup> | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 2894158 | 1.7 |
| 1000000 <sup>(1)(2)</sup> | PRM Trust 2025-PRM6 A, 4.480%, 07/05/2033 | 992769 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | PRM5 Trust 2025-PRM5 A, 4.173%, 03/10/2033 | 994318 | 0.6 |
| 2000000 <sup>(1)(2)</sup> | RFM Reremic Trust 2022-FRR1 AB60, 2.316%, 11/08/2049 | 1957620 | 1.2 |
| 1000000 <sup>(1)(2)</sup> | SG Commercial Mortgage Securities Trust 2020-COVE E, 3.728%, 03/15/2037 | 926902 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | SWCH Commercial Mortgage Trust 2025-DATA A, 5.115%, (TSFR1M + 1.443%), 02/15/2042 | 989047 | 0.6 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)(2)</sup> | WCORE Commercial Mortgage Trust 2024-CORE B, 5.514%, (TSFR1M + 1.842%), 11/15/2041 | 1001805 | 0.6 |
| 861000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2016-LC25 D, 3.012%, 12/15/2059 | 800976 | 0.5 |
| 9068336 <sup>(2)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2017-C40 XA, 0.849%, 10/15/2050 | 71127 | 0.0 |
| 5988440 <sup>(2)(3)</sup> | Wells Fargo Commercial Mortgage Trust 2021-C60 XA, 1.491%, 08/15/2054 | 342527 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-DWHP A, 6.014%, (TSFR1M + 2.341%), 04/15/2038 | 1005408 | 0.6 |
| 850000 <sup>(1)(2)</sup> | Wells Fargo Commercial Mortgage Trust 2025-VTT B, 5.126%, 03/15/2038 | 851896 | 0.5 |
|  | Total Commercial Mortgage-Backed Securities |  |  |
|  | (Cost $58,080,585) | **61199216** | **36.1** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS: 35.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 35.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS: 35.7%** |  |
| 422109 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2015-1 B4, 3.610%, 01/25/2045 | 339831 | 0.2 |
| 251042 <sup>(1)(2)</sup> | Agate Bay Mortgage Trust 2016-2 B3, 3.757%, 03/25/2046 | 238082 | 0.1 |
| 903444 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 854872 | 0.5 |
| 451722 <sup>(1)(2)</sup> | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 435966 | 0.3 |
| 541152 <sup>(1)(2)</sup> | Bayview MSR Opportunity Master Fund Trust 2021-5 B3A, 3.480%, 11/25/2051 | 464536 | 0.3 |
| 569183 <sup>(1)(2)</sup> | Bayview MSR Opportunity Master Fund Trust 2022-2 B3A, 3.395%, 12/25/2051 | 478011 | 0.3 |
| 694720 <sup>(1)(2)</sup> | Bayview Opportunity Master Fund VI Trust 2021-6 B3A, 3.381%, 10/25/2051 | 588332 | 0.3 |
| 298269 <sup>(2)</sup> | Bear Stearns ALT-A Trust 2005-9 26A1, 4.055%, 11/25/2035 | 154254 | 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)** |
| 740544 <sup>(1)(2)</sup> | Chase Home Lending Mortgage Trust 2024-8 A9A, 5.500%, 08/25/2055 | $735442 | 0.4 |
| 325951 <sup>(1)(2)</sup> | CIM Trust 2021-J1 A19, 2.500%, 03/25/2051 | 268324 | 0.2 |
| 405685 <sup>(1)(2)</sup> | Citigroup Mortgage Loan Trust 2021-J3 B3W, 2.860%, 09/25/2051 | 335365 | 0.2 |
| 978000 <sup>(1)</sup> | Citigroup Mortgage Loan Trust 2024-CMI1 B2, 6.365%, 06/25/2054 | 996374 | 0.6 |
| 783968 <sup>(1)(2)</sup> | COLT Mortgage Loan Trust 2021-1 A1, 0.910%, 06/25/2066 | 683645 | 0.4 |
| 873330 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 7.426%, (SOFR30A + 3.764%), 02/25/2040 | 893362 | 0.5 |
| 1054019 <sup>(1)(2)</sup> | Connecticut Avenue Securities Trust 2022-R01 1B1, 6.812%, (SOFR30A + 3.150%), 12/25/2041 | 1064084 | 0.6 |
| 602296 <sup>(1)(2)</sup> | Deephaven Residential Mortgage Trust 2021-4 M1, 3.257%, 11/25/2066 | 480143 | 0.3 |
| 881829 <sup>(1)</sup> | EFMT 2024-RM3 A1A, 5.000%, 12/25/2054 | 862091 | 0.5 |
| 602296 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 6.776%, (SOFR30A + 3.114%), 01/25/2040 | 610151 | 0.4 |
| 301148 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 6.962%, (SOFR30A + 3.300%), 11/25/2041 | 305498 | 0.2 |
| 1761717 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R02 1B1, 9.212%, (SOFR30A + 5.550%), 01/25/2043 | 1873444 | 1.1 |
| 500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 8.412%, (SOFR30A + 4.750%), 06/25/2043 | 529992 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2024-R04 1M2, 5.312%, (SOFR30A + 1.650%), 05/25/2044 | 999978 | 0.6 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)** |  |
| 500000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R02 1B1, 5.612%, (SOFR30A + 1.950%), 02/25/2045 | $501076 | 0.3 |
| 1000000 <sup>(1)(2)</sup> | Fannie Mae Connecticut Avenue Securities 2025-R03 2M2, 5.912%, (SOFR30A + 2.250%), 03/25/2045 | 1011249 | 0.6 |
| 361585 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2018-4 B3, 4.124%, 07/25/2048 | 333032 | 0.2 |
| 1299983 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B2A, 4.177%, 03/25/2050 | 1195784 | 0.7 |
| 647918 <sup>(1)(2)</sup> | Flagstar Mortgage Trust 2020-1INV B3, 4.177%, 03/25/2050 | 591675 | 0.4 |
| 1505741 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 7.412%, (SOFR30A + 3.750%), 12/25/2041 | 1530236 | 0.9 |
| 2845850 <sup>(1)(2)</sup> | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 8.412%, (SOFR30A + 4.750%), 02/25/2042 | 2914428 | 1.7 |
| 471704 <sup>(1)(2)</sup> | GCAT Trust 2022-INV3 B1, 4.597%, 08/25/2052 | 442941 | 0.3 |
| 575840 <sup>(1)(2)</sup> | GS Mortage-Backed Securities Trust 2020-PJ1 B3, 3.602%, 05/25/2050 | 508774 | 0.3 |
| 896467 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.965%, 03/25/2050 | 836364 | 0.5 |
| 768072 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B3, 3.965%, 03/25/2050 | 713047 | 0.4 |
| 1177935 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2022-PJ5 B3, 2.979%, 10/25/2052 | 987968 | 0.6 |
| 610382 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2023-PJ4 A3, 6.000%, 01/25/2054 | 615036 | 0.4 |
| 1389260 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2024-INV1 B3, 6.520%, 02/25/2055 | 1425185 | 0.8 |
| 1100000 <sup>(1)(2)</sup> | GS Mortgage-Backed Securities Trust 2025-PJ6 A14, 5.500%, 11/25/2055 | 1088437 | 0.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** |
| 674122 <sup>(1)(2)</sup> | Hundred Acre Wood Trust 2021-INV3 B3, 3.321%, 12/25/2051 | $575884 | 0.3 |
| 451722 <sup>(1)(2)</sup> | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 358317 | 0.2 |
| 588914 <sup>(2)</sup> | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 4.213%, (TSFR1M + 0.534%), 02/25/2046 | 457397 | 0.3 |
| 181305 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.600%, 06/25/2049 | 173693 | 0.1 |
| 405630 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2021-14 B4, 3.146%, 05/25/2052 | 334923 | 0.2 |
| 464436 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2022-1 B3, 3.083%, 07/25/2052 | 378874 | 0.2 |
| 1097518 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2022-6 B3, 3.283%, 11/25/2052 | 914115 | 0.5 |
| 749111 <sup>(1)(2)</sup> | J.P. Morgan Mortgage Trust 2023-2 B3, 5.559%, 07/25/2053 | 714473 | 0.4 |
| 257459 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2014-1 B5, 3.685%, 01/25/2044 | 218998 | 0.1 |
| 792612 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-1 B4, 3.446%, 01/25/2047 | 710005 | 0.4 |
| 329992 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-4 B2, 3.871%, 11/25/2048 | 305298 | 0.2 |
| 343508 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2017-6 B4, 3.778%, 12/25/2048 | 311783 | 0.2 |
| 505358 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-3 B3, 3.698%, 09/25/2048 | 464184 | 0.3 |
| 523713 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2018-4 B2, 3.711%, 10/25/2048 | 480977 | 0.3 |
| 736963 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-7 B3A, 3.218%, 02/25/2050 | 655662 | 0.4 |
| 735801 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-8 B3A, 3.385%, 03/25/2050 | 657561 | 0.4 |
| 791744 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-HYB1 B1, 5.095%, 10/25/2049 | 782580 | 0.5 |
| 896065 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-INV3 B3, 4.339%, 05/25/2050 | 831185 | 0.5 |
| 385491 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.672%, 12/25/2049 | 372715 | 0.2 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)** |
| 385491 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.672%, 12/25/2049 | $371794 | 0.2 |
| 626212 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2019-LTV3 B3, 4.360%, 03/25/2050 | 583989 | 0.3 |
| 647266 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-5 B1, 3.568%, 12/25/2050 | 571589 | 0.3 |
| 380283 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2020-8 B3, 3.487%, 03/25/2051 | 336007 | 0.2 |
| 300657 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 | 248815 | 0.1 |
| 962487 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2023-10 B3, 6.156%, 05/25/2054 | 952152 | 0.6 |
| 1000000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2024-CCM1 A5A, 5.500%, 04/25/2055 | 986700 | 0.6 |
| 413047 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust 2025-CCM1 A2, 5.500%, 06/25/2055 | 411308 | 0.2 |
| 1100000 <sup>(1)(2)</sup> | JP Morgan Mortgage Trust Series 2025-3 M1, 6.783%, 09/25/2055 | 1114399 | 0.7 |
| 178359 <sup>(1)(2)</sup> | JP Morgan Trust 2015-1 B3, 5.013%, 12/25/2044 | 175322 | 0.1 |
| 528022 <sup>(1)(2)</sup> | Mello Mortgage Capital Acceptance 2018-MTG2 B2, 4.312%, 10/25/2048 | 502545 | 0.3 |
| 1050706 <sup>(1)(2)</sup> | MFA Trust 2021-INV2 M1, 3.199%, 11/25/2056 | 854352 | 0.5 |
| 542067 <sup>(1)(2)</sup> | Mill City Mortgage Trust 2015-2 B2, 3.680%, 09/25/2057 | 502035 | 0.3 |
| 332907 <sup>(1)(2)</sup> | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 325474 | 0.2 |
| 1144363 <sup>(1)(2)</sup> | Oaktown Re VII Ltd. 2021-2 M1C, 7.012%, (SOFR30A + 3.350%), 04/25/2034 | 1155957 | 0.7 |
| 357814 <sup>(1)(2)</sup> | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 293680 | 0.2 |
| 1034382 <sup>(1)(2)</sup> | Oceanview Mortgage Trust 2021-5 B3, 2.967%, 10/25/2051 | 860175 | 0.5 |
| 907006 <sup>(1)(2)</sup> | PRET Trust 2025-RPL2 A1, 4.000%, 08/25/2064 | 880983 | 0.5 |
| 514590 <sup>(1)(2)</sup> | RCKT Mortgage Trust 2020-1 B2A, 3.470%, 02/25/2050 | 465317 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| <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)** |
| 410360 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2017-2 B2, 3.547%, 02/25/2047 | $387484 | 0.2 |
| 418648 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH2 B2B, 4.796%, 08/25/2049 | 413394 | 0.2 |
| 760183 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 B1B, 4.499%, 09/25/2049 | 728683 | 0.4 |
| 447650 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2019-CH3 B2B, 4.499%, 09/25/2049 | 433198 | 0.3 |
| 636220 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-2 B3, 3.626%, 03/25/2050 | 567942 | 0.3 |
| 516974 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2020-3 B3, 3.303%, 04/25/2050 | 451264 | 0.3 |
| 674098 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2021-7 B3, 2.862%, 11/25/2051 | 565679 | 0.3 |
| 600241 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2023-1 B2, 5.101%, 01/25/2053 | 569159 | 0.3 |
| 485581 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2024-2 A19, 5.983%, 03/25/2054 | 488980 | 0.3 |
| 990398 <sup>(1)(2)</sup> | Sequoia Mortgage Trust 2025-6 B3, 6.204%, 07/25/2055 | 975144 | 0.6 |
| 303617 <sup>(1)(2)</sup> | Shellpoint Co.-Originator Trust 2017-2 B3, 3.615%, 10/25/2047 | 281858 | 0.2 |
| 168738 <sup>(1)(2)</sup> | STAR Trust 2021-1 A3, 1.528%, 05/25/2065 | 158363 | 0.1 |
| 903444 <sup>(1)(2)</sup> | Starwood Mortgage Residential Trust 2020-1 M1, 2.878%, 02/25/2050 | 818282 | 0.5 |
| 602296 <sup>(1)(2)</sup> | Starwood Mortgage Residential Trust 2020-3 A2, 2.240%, 04/25/2065 | 575866 | 0.3 |
| 1055938 <sup>(2)</sup> | TBW Mortgage-Backed Trust 2006-6 A5B, 6.540%, 01/25/2037 | 223652 | 0.1 |
| 328636 <sup>(1)(2)</sup> | Towd Point Mortgage Trust 2015-2 2B2, 4.831%, 11/25/2057 | 327815 | 0.2 |
| 538236 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV1 B1, 3.147%, 08/25/2051 | 460919 | 0.3 |
| 409454 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV4 B3, 3.213%, 12/25/2051 | 337282 | 0.2 |
| 1338957 <sup>(1)(2)</sup> | UWM Mortgage Trust 2021-INV5 B3, 3.224%, 01/25/2052 | 1124852 | 0.7 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)** |  |
| 544988 <sup>(1)(2)</sup> | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.362%, 12/25/2049 | 480242 | 0.3 |
|  | Total Collateralized Mortgage Obligations |  |  |
|  | (Cost $56,900,795) | **60548284** | **35.7** |
| **ASSET-BACKED SECURITIES: 22.3%** | **ASSET-BACKED SECURITIES: 22.3%** |  |  |
|  | **Other Asset-Backed Securities: 19.7%** | **Other Asset-Backed Securities: 19.7%** | **Other Asset-Backed Securities: 19.7%** |
| 300000 <sup>(1)(2)</sup> | AB BSL CLO 5 Ltd. 2024-5A C, 5.768%, (TSFR3M + 2.100%), 01/20/2038 | 300524 | 0.2 |
| 1000000 <sup>(1)(2)</sup> | AMMC CLO 30 Ltd. 2024-30A CR, 5.343%, (TSFR3M + 1.750%), 04/15/2039 | 996810 | 0.6 |
| 730000 <sup>(1)(2)</sup> | Apidos CLO XXIV 2016-24A BRR, 5.979%, (TSFR3M + 2.312%), 10/20/2030 | 730910 | 0.4 |
| 600000 <sup>(1)(2)</sup> | Apidos CLO XXXVI 2021-36A CR, 5.522%, (TSFR3M + 1.800%), 01/20/2039 | 599858 | 0.3 |
| 810810 <sup>(1)</sup> | Arbys Funding LLC 2020-1A A2, 3.237%, 07/30/2050 | 791607 | 0.5 |
| 900000 <sup>(1)(2)</sup> | Bain Capital Credit CLO Ltd. 2022-1A CR, 5.518%, (TSFR3M + 1.850%), 10/18/2038 | 897980 | 0.5 |
| 500000 <sup>(1)(2)</sup> | Balboa Bay Loan Funding Ltd. 2022-1A CR, 5.968%, (TSFR3M + 2.300%), 04/20/2037 | 500340 | 0.3 |
| 550000 <sup>(1)(2)</sup> | Birch Grove CLO 3 Ltd. 2021-3A CR, 5.468%, (TSFR3M + 1.800%), 01/19/2038 | 546718 | 0.3 |
| 750000 <sup>(1)(2)</sup> | BlueMountain CLO XXXIV Ltd. 2022-34A CR, 5.568%, (TSFR3M + 1.900%), 04/20/2035 | 743873 | 0.4 |
| 597000 <sup>(1)</sup> | Bojangles Issuer LLC 2024-1A A2, 6.584%, 11/20/2054 | 601099 | 0.4 |
| 750000 <sup>(1)</sup> | Cherry Securitization Trust 2025-1A A, 6.130%, 11/15/2032 | 757759 | 0.4 |
| 478938 <sup>(1)</sup> | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 444571 | 0.3 |
| 350000 <sup>(1)(2)</sup> | Elevation CLO Ltd. 2026-19A C, 5.562%, (TSFR3M + 1.900%), 03/31/2038 | 349193 | 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)** |
| 750000 <sup>(1)(2)</sup> | Elmwood CLO 18 Ltd. 2022-5A CRR, 5.668%, (TSFR3M + 2.000%), 07/17/2037 | $751654 | 0.4 |
| 1050000 <sup>(1)(2)</sup> | Galaxy 31 Clo Ltd. 2023-31A CR, 5.672%, (TSFR3M + 2.000%), 07/15/2038 | 1052081 | 0.6 |
| 659355 <sup>(1)</sup> | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 663568 | 0.4 |
| 401076 <sup>(1)</sup> | Loanpal Solar Loan Ltd. 2020-3GS B, 3.450%, 12/20/2047 | 281527 | 0.2 |
| 450000 <sup>(1)(2)</sup> | Market Street CLO Ltd. II 2025-2A C, 5.784%, (TSFR3M + 1.900%), 03/20/2038 | 448916 | 0.3 |
| 313836 <sup>(1)</sup> | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 284667 | 0.2 |
| 185600 <sup>(1)</sup> | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 175110 | 0.1 |
| 239063 <sup>(1)</sup> | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 205677 | 0.1 |
| 300000 <sup>(1)(2)</sup> | Navesink CLO 2 Ltd. 2024-2A CR, 5.722%, (TSFR3M + 2.050%), 01/15/2036 | 297450 | 0.2 |
| 500000 <sup>(1)(2)</sup> | Navesink Clo 5 Ltd. 2026-5A C, 5.557%, (TSFR3M + 1.850%), 03/31/2039 | 499729 | 0.3 |
| 1500000 <sup>(1)(2)</sup> | Oaktree CLO Ltd. 2019-4A CRR, 5.938%, (TSFR3M + 2.270%), 07/20/2037 | 1501138 | 0.9 |
| 250000 <sup>(1)(2)</sup> | Oaktree CLO Ltd. 2024-25A C, 6.168%, (TSFR3M + 2.500%), 04/20/2037 | 250428 | 0.1 |
| 450000 <sup>(1)(2)</sup> | Octagon Investment Partners XVI Ltd. 2013-1A CR, 5.779%, (TSFR3M + 2.112%), 07/17/2030 | 449660 | 0.3 |
| 441852 <sup>(1)</sup> | Pagaya AI Debt Grantor Trust 2024-11 B, 5.637%, 07/15/2032 | 444585 | 0.3 |
| 800000 <sup>(1)(2)</sup> | Palmer Square CLO Ltd. 2018-2A BR, 6.171%, (TSFR3M + 2.500%), 04/16/2037 | 800994 | 0.5 |
| 1000000 <sup>(1)(2)</sup> | Parallel Ltd. 2023-1A BR, 5.718%, (TSFR3M + 2.050%), 07/20/2036 | 991328 | 0.6 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (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)** |
| 500000 <sup>(1)(2)</sup> | Sound Point CLO XXXII Ltd. 2021-4A C, 6.080%, (TSFR3M + 2.412%), 10/25/2034 | $500025 | 0.3 |
| 451893 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 | 404396 | 0.2 |
| 1897244 <sup>(1)</sup> | Sunnova Helios II Issuer LLC 2021-B B, 2.010%, 07/20/2048 | 1267934 | 0.7 |
| 355836 <sup>(1)</sup> | Sunnova Helios IV Issuer LLC 2020-AA A, 2.980%, 06/20/2047 | 313552 | 0.2 |
| 1015455 <sup>(1)</sup> | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | 882514 | 0.5 |
| 872557 <sup>(1)</sup> | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 | 842489 | 0.5 |
| 696611 <sup>(1)</sup> | Sunrun Iris Issuer LLC 2023-1A A, 5.750%, 01/30/2059 | 682022 | 0.4 |
| 1845050 <sup>(1)</sup> | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 1771779 | 1 |
| 315241 <sup>(1)</sup> | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 303222 | 0.2 |
| 402518 <sup>(1)</sup> | TIF Funding II LLC 2021-1A A, 1.650%, 02/20/2046 | 367781 | 0.2 |
| 1850000 <sup>(1)</sup> | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 1854616 | 1.1 |
| 519225 <sup>(1)</sup> | Triton Container Finance VIII LLC 2021-1A B, 2.580%, 03/20/2046 | 478025 | 0.3 |
| 333280 <sup>(1)(2)</sup> | Venture 33 CLO Ltd. 2018-33A CR, 6.214%, (TSFR3M + 2.542%), 07/15/2031 | 333743 | 0.2 |
| 350000 <sup>(1)(2)</sup> | VERDE CLO Ltd. 2019-1A CRR, 5.672%, (TSFR3M + 2.000%), 04/15/2032 | 350406 | 0.2 |
| 547590 <sup>(1)</sup> | Vivint Solar Financing VII LLC 2020-1A A, 2.210%, 07/31/2051 | 504277 | 0.3 |
| 1712154 <sup>(1)</sup> | Wingstop Funding LLC 2020-1A A2, 2.841%, 12/05/2050 | 1658777 | 1 |
| 1650000 <sup>(1)</sup> | Wingstop Funding LLC 2024-1A A2, 5.858%, 12/05/2054 | 1678728 | 1 |
| 1883757 <sup>(1)</sup> | Zaxby's Funding LLC 2021-1A A2, 3.238%, 07/30/2051 | 1789268 | 1.1 |
|  |  | **33343308** | **19.7** |

---

---

| | | | |
|:---|:---|:---|:---|
| <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: 2.6%** | **Student Loan Asset-Backed Securities: 2.6%** | **Student Loan Asset-Backed Securities: 2.6%** |
| 174087 <sup>(1)</sup> | Laurel Road Prime Student Loan Trust 2019-A BFX, 3.000%, 10/25/2048 | $172567 | 0.1 |
| 790000 <sup>(1)</sup> | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 715416 | 0.4 |
| 602000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 | 583298 | 0.3 |
| 632000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | 611373 | 0.4 |
| 1521000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 | 1271841 | 0.8 |
| 1235000 <sup>(1)</sup> | SoFi Professional Loan Program Trust 2020-C BFX, 3.360%, 02/15/2046 | 1068118 | 0.6 |
|  |  | **4422613** | **2.6** |
|  | Total Asset-Backed Securities |  |  |
|  | (Cost $36,867,431) | **37765921** | **22.3** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $151,848,811) | **159513421** | **94.1** |
|  |  |  | **Percentage** |
| **Principal** |  |  | **of Net** |
| **Amount†** |  | **Value** | **Assets** |
| **SHORT-TERM INVESTMENTS: 5.4%** | **SHORT-TERM INVESTMENTS: 5.4%** | **SHORT-TERM INVESTMENTS: 5.4%** |  |
|  | **Commercial Paper: 3.8%** | **Commercial Paper: 3.8%** | **Commercial Paper: 3.8%** |
| 1000000 | AutoZone Disc, 3.980%, 04/07/2026 | 999238 | 0.6 |
| 500000 | AutoZone, Inc., 3.960%, 04/01/2026 | 499946 | 0.3 |
| 500000 | AutoZone, Inc., 3.970%, 04/06/2026 | 499673 | 0.3 |
| 1000000 | Constellation Energy Generation LLC, 4.420%, 04/01/2026 | 999879 | 0.6 |
| 1500000 | Enterprise Products Operating LLC, 4.010%, 04/01/2026 | 1499835 | 0.9 |
| 2000000 | General Mills, Inc., 3.910%, 04/01/2026 | 1999786 | 1.1 |
|  | Total Commercial Paper |  |  |
|  | (Cost $6,499,079) | **6498357** | **3.8** |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

---

| | | | |
|:---|:---|:---|:---|
| <br>**Shares** | | <br>**Value** | **Percentage**<br>**of Net**<br>**Assets** |
|  | **Mutual Funds: 1.6%** |  |  |
| 2702000 <sup>(5)</sup> | Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 3.570% |  |  |
|  | (Cost $2,702,000) | $**2702000** | **1.6** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $9,201,079) | $**9200357** | **5.4** |
|  | **Total Investments in Securities** |  |  |
|  | **(Cost $161,049,890)** | $**168713778** | **99.5** |
|  | **Assets in Excess of Other Liabilities** | **904793** | **0.5** |
|  | **Net Assets** | $**169618571** | **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> | Variable rate security. Rate shown is the rate in effect as of March 31, 2026. |
| <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 March 31, 2026. |

---

Reference Rate Abbreviations:

SOFR30A 30-day Secured Overnight Financing Rate <br> 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

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

**Fair Value Measurements** **<sup>^</sup>**

The following is a summary of the fair valuations according to the inputs used as of March 31, 2026 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>**March 31, 2026** |
| **Asset Table** |  |  |  |  |
| **Investments, at fair value** |  |  |  |  |
| Commercial Mortgage-Backed Securities | $— | $61199216 | $— | $61199216 |
| Collateralized Mortgage Obligations |  | 60548284 |  | 60548284 |
| Asset-Backed Securities |  | 37765921 |  | 37765921 |
| Short-Term Investments | 2702000 | 6498357 |  | 9200357 |
| Total Investments, at fair value | $2702000 | $166011778 | $— | $168713778 |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | 78702 |  |  | 78702 |
| Total Assets | $2780702 | $166011778 | $— | $168792480 |
| **Liabilities Table** |  |  |  |  |
| **Other Financial Instruments+** |  |  |  |  |
| Futures | $(478264) | $— | $— | $(478264) |
| Total Liabilities | $(478264) | $— | $— | $(478264) |

---

---

| | |
|:---|:---|
| ^ | 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 March 31, 2026, the following futures contracts were outstanding for Voya VACS Series SC 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 | 189 | 06/30/26 | $39207164 | $(226305) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5-Year Note | 90 | 06/30/26 | 9736172 | (84854) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10-Year Note | 15 | 06/18/26 | 1665703 | (27687) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bond | 27 | 06/18/26 | 3074625 | (84011) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10-Year Note | 76 | 06/18/26 | 8627188 | (55407) |
|  |  |  | $62310852 | $(478264) |
| <u>Short Contracts:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Long Bond | (24) | 06/18/26 | (2797500) | 78702 |
|  |  |  | $(2797500) | $78702 |

---

**A summary of derivative instruments by primary risk exposure is outlined in the following tables.**

The fair value of derivative instruments as of March 31, 2026 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> | $78702 |
| **Total Asset Derivatives** |  | $78702 |
| **<u>Liability Derivatives</u>** |  |  |
| Interest rate contracts | Variation margin payable on futures contracts<sup>\*</sup> | $478264 |
| **Total Liability Derivatives** |  | $478264 |

---

See Accompanying Notes to Financial Statements

<u>Voya VACS Series SC Fund</u> <u>PORTFOLIO OF INVESTMENTS as of March 31, 2026 (continued)</u>

<sup>\*</sup> 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 year ended March 31, 2026 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 | $227345 |
| **Total** | $227345 |

---

**Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income**

---

| | |
|:---|:---|
| **Derivatives not accounted for as hedging instruments** | **Futures** |
| Interest rate contracts | $(750465) |
| **Total** | $(750465) |

---

At March 31, 2026, 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 $160,650,328. |  |
| Net unrealized appreciation consisted of: |  |
| Gross Unrealized Appreciation | $8190717 |
| Gross Unrealized Depreciation | (526829) |
| Net Unrealized Appreciation | $7663888 |

---

See Accompanying Notes to Financial Statements

TAX INFORMATION (Unaudited)

------

Dividends and distributions paid during the year ended March 31, 2026, were as follows:

---

| | | |
|:---|:---|:---|
| <br>**Fund Name** | <br>**Type** | **Per Share**<br>**Amount** |
| Voya VACS Series CB Fund<sup>(1)</sup> | NII | $0.0865 |
| Voya VACS Series EMHCD Fund | NII | $0.6838 |
|  | STCG | $0.0066 |
|  | LTCG | $0.0913 |
| Voya VACS Series HYB Fund | NII | $0.6290 |
|  | STCG | $0.0067 |
|  | LTCG | $0.0701 |
| Voya VACS Series SC Fund | NII | $0.7064 |
|  | LTCG | $0.1258 |

---

NII - Net investment income

STCG - Short-term capital gain

LTCG - Long-term capital gain

<sup>(1)</sup> Commenced operations January 22, 2026.

Pursuant to Internal Revenue Code Section 871(k)(1), the Funds designate the following percentages of net investment income distributions as interest-related dividends:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series CB Fund | 91.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series EMHCD Fund | 9.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series HYB Fund | 88.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series SC Fund | 89.15% |

---

The Funds designate the following amounts of long-term capital gain distributions as 20% rate long-term capital gain dividends under Internal Revenue Code Section 852(b)(3)(C):

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series EMHCD Fund | $961813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series HYB Fund | $2017798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya VACS Series SC Fund | $2082865 |

---

Above figures may differ from those cited elsewhere in this report due to differences in the calculation of income and gains under U.S. generally accepted accounting principles (book) purposes and Internal Revenue Service (tax) purposes.

Shareholders are strongly advised to consult their own tax advisers with respect to the tax consequences of their investments in the Funds. In January, shareholders, excluding corporate shareholders, receive an IRS 1099-DIV regarding the federal tax status of the dividends and distributions they received in the calendar year.

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited)

------

**BOARD CONSIDERATION AND APPROVAL OF INVESTMENT MANAGEMENT CONTRACTS AND SUB-ADVISORY CONTRACTS**

At a meeting held on November 13, 2025, the Board of Trustees ("Board") of Voya Funds Trust and Voya Separate Portfolios Trust (collectively, the "Trusts"), including a majority of the Board members who have no direct or indirect interest in the investment management and sub-advisory contracts, and who are not "interested persons" of Voya VACS Series EMHCD Fund (the "EMHCD Fund"), Voya VACS Series SC Fund (the "SC Fund"), and Voya VACS Series HYB Fund (the "HYB Fund," and together with the EMHCD Fund and the SC Fund, the "Funds"), each a series of the Trusts, as such term is defined under the Investment Company Act of 1940, as amended (the "Independent Trustees"), considered and approved the renewal of the investment management contracts (the "Management Contracts") between Voya Investments, LLC (the "Manager") and the Trusts, on behalf of the Funds, and the sub-advisory contracts (the "Sub-Advisory Contracts," and together with the Management Contracts, the "Contracts") with Voya Investment Management Co. LLC, the sub-adviser to each Fund (the "Sub-Adviser"), for an additional one-year period ending November 30, 2026.

In addition to the Board meeting on November 13, 2025, the Independent Trustees also held meetings outside the presence of representatives of the Manager and Sub-Adviser (collectively, such persons are referred to herein as "management") on October 16, 2025 and November 11, 2025. At those meetings, the Board members reviewed and considered materials related to the proposed continuance of the Contracts that they had requested and believed to be relevant to the renewal of the Contracts in light of their own business judgment and the legal advice furnished to them by K&L Gates LLP, their independent legal counsel. The Board also considered information furnished to it throughout the year at meetings of the Board and its committees, including information regarding performance, expenses, and other relevant matters. While the Board considered the renewal of the management contracts and sub-advisory contracts for all of the applicable investment companies in the Voya family of funds at the same meetings, the Board considered each Voya fund's investment management and sub-advisory relationships separately.

The Board has established a Contracts Committee and two Investment Review Committees (the "IRCs"), each of which includes only Independent Trustees as members. The Contracts Committee meets several times throughout the year to provide oversight with respect to the management and sub-advisory contracts approval and renewal process for the Voya funds, among other functions, and each IRC meets several times throughout the year with respect to

each Voya fund (assigned to that IRC) to provide oversight regarding the investment performance of the sub-advisers, as well as the Manager's role in monitoring the sub-advisers.

The Contracts Committee oversees, and annually recommends Board approval of updates to, a methodology guide for the Voya funds ("Methodology Guide"), which sets out a framework pursuant to which the Independent Trustees request, and management provides, certain information that the Independent Trustees deem to be important or potentially relevant to the contracts renewal process for the Voya funds. The Independent Trustees retain the services of an independent consultant with experience in the mutual fund industry to assist the Contracts Committee in developing and recommending to the Board: (1) a selected peer group of investment companies for each Fund ("Selected Peer Group") based on that Fund's particular attributes; and (2) updates to the Methodology Guide with respect to the content and format of various data prepared in connection with the renewal process.

The Manager or Sub-Adviser may not have been able to, or opted not to, provide information in response to certain information requests, in which case the Board conducted its evaluation based on the information that was provided. In such cases, the omission of any such information was not deemed to be material to the Board's considerations.

Provided below is an overview of certain material factors that the Board considered at its meetings regarding the renewal of the Contracts and the compensation to be paid thereunder. The Board members did not identify any particular information or factor that was most relevant to its consideration.

**Nature, Extent and Quality of Services**

The Manager oversees, subject to the authority of the Board, and is responsible for the provision of, all investment advisory and portfolio management services for the Funds, but may delegate certain of these responsibilities to one or more sub-advisers. In addition, the Manager provides administrative services reasonably necessary for the operation of the Funds as set forth in the Management Contracts, including oversight of the Funds' operations and risk management and the oversight of their various other service providers.

The Board considered the "manager-of-managers" structure of the Voya funds that has been developed by the Manager pursuant to which the Manager selects, subject to the Board's approval, sub-advisers to provide day-to-day management services to all or a portion of each Voya fund. The Board recognized that the Manager is responsible

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

------

for monitoring the Sub-Adviser's investment program, performance, developments, ongoing operations, and compliance with applicable regulations and investment policies and restrictions with respect to the Funds under this manager-of-managers arrangement. The Board also considered the techniques and resources that the Manager has developed to provide this ongoing due diligence and oversight with respect to the sub-advisers and to recommend appropriate changes in investment strategies, sub-advisers, or allocation among sub-advisers in an effort to improve a Voya fund's performance. In connection with the Manager's performance of these duties, the Board considered that the Manager has developed an oversight process formulated by its Manager Research & Selection Group that reviews, among other matters, performance data, the Sub-Adviser's management team, portfolio data and attribution analysis related to the Sub-Adviser through various means, including, but not limited to, in-person meetings, on-site or virtual visits, and telephonic meetings with the Sub-Adviser.

Further, the Board considered periodic compliance reports it receives from the Trusts' Chief Compliance Officer evaluating, among other related matters, whether the regulatory compliance systems and procedures of the Manager and Sub-Adviser are reasonably designed to ensure compliance with the federal securities laws and whether the investment policies and restrictions for each Fund are complied with on a consistent basis.

The Board considered the portfolio management team assigned by the Sub-Adviser to the Funds and the level of resources committed to the Funds (and other relevant funds in the Voya funds) by the Manager and the Sub-Adviser, and whether those resources are sufficient to provide high-quality services to the Funds.

Based on their deliberations and the materials presented to them, the Board concluded that the nature, extent and quality of the overall services provided by the Manager and Sub-Adviser under the Contracts were appropriate.

**Fund Performance**

In assessing the investment management and sub-advisory relationships, the Board placed emphasis on the investment returns of each Fund, including its investment performance over certain time periods compared to the Fund's Morningstar, Inc. ("Morningstar") category (Morningstar is an independent provider of mutual fund data) and primary benchmark, a broad-based securities market index. The Board also considered information from the Manager Research & Selection Group and received reports summarizing a separate analysis of each Fund's performance and risk, including risk-adjusted investment

return information, from the Trusts' Chief Investment Risk Officer.

**Economies of Scale**

When evaluating the reasonableness of the management fee schedules, the Board considered whether economies of scale have been or likely will be realized by the Manager and the Sub-Adviser if and when a Fund grows larger and the extent to which any such economies are shared with the Fund. In this regard, the Board noted that there is no management fee charged pursuant to the Management Contracts or the Sub-Advisory Contracts. The Board also considered that the Funds have fee waiver and expense reimbursement arrangements. The Board considered the extent to which economies of scale realized by the Manager could be shared with each Fund through such fee waivers, expense reimbursements or other expense reductions.

**Information Regarding Services, Performance, and Fee Schedules Offered to Other Clients**

The Board considered comparative information regarding the nature of services, performance, and fee schedules offered by the Manager and Sub-Adviser to other clients with similar investment objectives, if applicable, including other registered investment companies and relevant institutional accounts. When the fee schedules offered to or the performance of such other clients differed materially from a Fund, the Board took into account the underlying rationale provided by the Manager or Sub-Adviser, as applicable, for these differences.

**Fee Schedules, Profitability, and Fall-out Benefits**

The Board reviewed and considered the contractual management fee schedule and net management fee rate payable by each Fund to the Manager compared to the Fund's Selected Peer Group. In this regard, as noted above, the Board noted that there is no management fee charged pursuant to the Management Contracts or the Sub-Advisory Contracts. The Board considered the fee waivers, expense limitations, and recoupment arrangements that apply to the fees payable by the Funds, including whether the Manager proposed any changes thereto. For each Fund, the Board separately determined that the fees payable to the Manager and the fee schedule payable to the Sub-Adviser are reasonable for the services that each performs, which were considered in light of the nature, extent and quality of the services that each has performed and is expected to perform.

For each Fund, the Board considered information on revenues, costs and profits or losses realized by the Manager and the Voya-affiliated Sub-Adviser related to

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

------

their services to the Fund. In analyzing the profitability of the Manager and its affiliates in connection with services they render to a Fund, the Board took into account that there is no sub-advisory fee payable by the Manager to the Sub-Adviser under the Sub-Advisory Contracts. The Board also considered the profitability of the Manager and its affiliated Sub-Adviser attributable to servicing each Fund both with and without taking into account the profitability of the distributor of the Funds and any revenue sharing payments made by, or other distribution-related expenses incurred by, the Manager.

Although the Methodology Guide establishes a framework for profit calculation by the Manager and its affiliated Sub-Adviser, the Board recognized that there is no uniform methodology within the asset management industry for determining profitability for this purpose. The Board also recognized that the use of different reasonable methodologies can give rise to dramatically different reported profit and loss results with respect to the Manager and the Voya-affiliated Sub-Adviser, as well as other industry participants with whom the profits of the Manager and its affiliated Sub-Adviser could be compared. In addition, the Board recognized that management's calculations regarding its costs incurred in establishing the infrastructure necessary for the Funds' operations may not be fully reflected in the expenses allocated to each Fund in determining profitability. The Board also recognized that the information presented may not portray all of the costs borne by the Manager or reflect all of the risks associated with offering and managing a mutual fund complex in the current regulatory and market environment, including entrepreneurial, regulatory, legal and operational risks.

The Board also considered that the Manager and the Voya-affiliated Sub-Adviser are entitled to earn a reasonable level of profits for the services that they provide to the Funds. The Board also considered information regarding the potential fall-out benefits to the Manager and Sub-Adviser and their respective affiliates from their association with the Funds. Following its reviews, the Board determined that the Manager's and the Voya-affiliated Sub-Adviser's profitability with respect to their services to the Funds and the Manager's and Sub-Adviser's potential fall-out benefits were not unreasonable.

**Fund-by-Fund Analysis**

Set forth below are certain of the specific factors that the Board considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings in relation to approving each Fund's Contracts and the conclusions reached by the Board. These specific factors are in addition to those considerations discussed above. The performance data provided to the Board primarily was for

various periods ended March 31, 2025. In addition, the Board also considered at its October 16, 2025, November 11, 2025, and/or November 13, 2025 meetings certain additional data regarding each Fund's more recent performance, asset levels and asset flows. Each Fund's management fee rate and expense ratio were compared to the management fee rates and expense ratios of the funds in its Selected Peer Group. With respect to the quintile rankings noted below, the first quintile represents the range of funds with the highest performance or the lowest management fee rate or expense ratio, as applicable, and the fifth quintile represents the range of funds with the lowest performance or the highest management fee rate or expense ratio, as applicable.

**EMHCD Fund**

In considering whether to approve the renewal of the Contracts for the EMHCD Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the second quintile of its Morningstar category for the one-year period and the third quintile for the year-to-date period; and (2) the Fund outperformed its performance benchmark for all periods presented.

In analyzing this performance data, the Board took into account that the Fund commenced operations in February 2023, and therefore had a limited operating history for the purpose of analyzing its performance.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the third quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the third quintile.

**SC Fund**

In considering whether to approve the renewal of the Contracts for the SC Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the first quintile of its Morningstar category for the year-to-date and one-year periods; and (2) the Fund outperformed its performance benchmark for the one-year period and underperformed for the year-to-date period.

In analyzing this performance data, the Board took into account that the Fund commenced operations in March 2023, and therefore had a limited operating history for the

ADVISORY AND SUB-ADVISORY CONTRACT APPROVAL DISCUSSION (Unaudited) (continued)

------

purpose of analyzing its performance.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the first quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the first quintile.

**HYB Fund**

In considering whether to approve the renewal of the Contracts for the HYB Fund, the Board considered that, based on performance data for the periods ended March 31, 2025: (1) the Fund is ranked in the first quintile of its Morningstar category for the year-to-date period and the second quintile for the one-year period; and (2) the Fund was equal to its performance benchmark for the year-to-date period and outperformed its performance benchmark for the one-year period.

In analyzing this performance data, the Board took into account that the Fund commenced operations in February 2023, and therefore had a limited operating history for the purpose of analyzing its performance.

In considering the fees payable under the Contracts for the Fund, the Board took into account the factors described above and also considered the pricing structure (including the net expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the Fund's net management fee rate is ranked in the second quintile; (b) the Fund's contractual management fee rate is ranked in the first quintile; and (c) the Fund's net expense ratio is ranked in the second quintile.

**Board Conclusions**

After its deliberation, the Board concluded that, in its business judgment, the terms of the Contracts are fair and reasonable to each Fund and that approval of the continuation of the Contracts is in the best interests of each Fund and its shareholders. In doing so, the Board reviewed all factors it considered to be material, including those discussed above. Within the context of its overall conclusions regarding the Contracts, and based on the information provided and management's related representations, the Board concluded that it was satisfied with management's responses relating to each Fund's investment performance and the fees payable under the Contracts. During this renewal process, each Board member may have accorded different weight to various

factors in reaching his or her conclusions. Based on these conclusions and other factors, the Board voted to renew the Contracts for each Fund for the year ending November 30, 2026.

[This Page Intentionally Left Blank]

[This Page Intentionally Left Blank]

[This Page Intentionally Left Blank]

---

| | |
|:---|:---|
| **Investment Adviser** | **Independent Registered Public Accounting Firm** |
| Voya Investments, LLC | Ernst & Young LLP |
| 7337 East Doubletree Ranch Road, Suite 100 | 200 Clarendon Street |
| Scottsdale, Arizona 85258 | Boston, Massachusetts 02116 |
| **Distributor** | **Custodian** |
| Voya Investments Distributor, 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 |
| **Transfer Agent** | **Legal Counsel** |
| BNY Mellon Investment Servicing (U.S.) Inc. | Ropes & Gray LLP |
| 103 Bellevue Parkway | Prudential Tower |
| Wilmington, Delaware 19809 | 800 Boylston Street |
|  | Boston, Massachusetts 02199 |

---

**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.**

**220645 (0326)**

**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.**

A special meeting of shareholders of Voya Funds Trust was held September 11, 2025, at the offices of Voya Investment Management, 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ 85258.

Proposal:

&nbsp;&nbsp;&nbsp;&nbsp;1. Election of Trustees

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Proposal** | **Shares voted for** | **Shares voted <br> against/withheld** | **Shares abstained** | **Broker <br> non-<br> vote** | **Total Shares Voted** |
| **Voya Funds Trust** |  |  |  |  |  |  |
| Colleen D. Baldwin | **1\*** | 1050840601.106 | 17253054.042 | 7605564.868 | 0.000 | 1075699220.016 |
| John V. Boyer | **1\*** | 1048518186.602 | 18150973.066 | 9030060.348 | 0.000 | 1075699220.016 |
| Jody T. Foster | **1\*** | 1052238243.574 | 15767822.963 | 7693153.479 | 0.000 | 1075699220.016 |
| Martin J. Gavin | **1\*** | 1049167776.387 | 18013415.795 | 8518027.834 | 0.000 | 1075699220.016 |
| Dennis Johnson, CFA | **1\*** | 1050642320.797 | 16696970.621 | 8359928.598 | 0.000 | 1075699220.016 |
| Joseph E. Obermeyer | **1\*** | 1050138030.072 | 16651888.647 | 8909301.297 | 0.000 | 1075699220.016 |
| Sheryl K. Pressler | **1\*** | 1051285125.947 | 16774691.132 | 7639402.937 | 0.000 | 1075699220.016 |
| Christopher P. Sullivan | **1\*** | 1050382246.401 | 16891528.649 | 8425444.966 | 0.000 | 1075699220.016 |
| Mark R. Wetzel | **1\*** | 1057706343.155 | 9553936.861 | 8438940.000 | 0.000 | 1075699220.016 |
| Christian G. Wilson | **1\*** | 1057378327.106 | 10253244.376 | 8067648.534 | 0.000 | 1075699220.016 |

---

\*&nbsp;&nbsp;&nbsp;&nbsp; Proposal Passed

**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 $504,532 was paid during the reporting period.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included in the financial statements filed under Item 7.

**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)](tm269275d1_ex99-codeeth.htm) [The Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.](tm269275d1_ex99-codeeth.htm)

(a)(2) Not applicable.

---

| | |
|:---|:---|
| [(a)(3)](tm269275d1_ex99-cert.htm) | [A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) is attached hereto as EX-99.CERT.](tm269275d1_ex99-cert.htm) |

---

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b)](tm269275d1_ex99-906cert.htm) [The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT.](tm269275d1_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: June 5, 2026

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: June 5, 2026

---

| | |
|:---|:---|
| By | /s/ Todd Modic |
|  | Todd Modic |
|  | Principal Financial Officer |

---

Date: June 5, 2026

## Ex-99.Code

**EX-99.CODE ETH**

**VOYA MUTUAL FUNDS**

**SARBANES-OXLEY ACT**

**CODE OF ETHICS**

**<u>I. Adoption</u>**

The Boards of Directors/Trustees ("Board") of the Voya funds (each a "Fund," and collectively, the "Funds") adopted this code of ethics ("Code") pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 ("Act"), which requires annual disclosure of an investment company's code of ethics applicable to its principal executive, principal financial and principal accounting officers of the Funds ("Covered Officers"). For the purposes of this Code, the chief executive officer and the chief financial officer of the Funds are the Covered Officers for the Funds.

**<u>II. Policy</u>**

It is the policy of the Funds to conduct their affairs in an honest and ethical manner, and to comply with all applicable laws, rules and regulations. The purpose of this Code is to assist in the accomplishment of the foregoing policy, to deter wrongdoing and to promote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Full, fair, accurate, timely, and understandable disclosure in reports and documents that a Fund files
with, or submits to, the U.S. Securities and Exchange Commission ("SEC") and in other public communications made by a Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Prompt internal reporting of violations of this Code to an appropriate person or persons identified in
this Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Accountability for adherence to this Code.

If any part of this Code, or if compliance with any part of this Code, violates or conflicts with any applicable law, the provisions of such applicable law shall control. If any part of this Code, or if compliance with any part of this Code, violates or conflicts with any policy or practice of the Funds or of any service provider to the Funds, the provisions of this Code shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***A.***  ***Covered Officer Duties*** 

Each Covered Officer shall adhere to a high standard of business ethics in their dealings with and on behalf of a Fund, including but not limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Conduct themself in an honest and ethical manner when dealing with or on behalf of a Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Refrain from engaging in activity that would compromise their professional ethics or otherwise prejudice
their ability faithfully to carry out their duties to the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Refrain from using or appearing to use material non-public information acquired through their work for
the Funds for unethical or illegal advantage, either directly or indirectly, through others;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Place the interests of the Funds and their shareholders before their personal interests and manage actual
or apparent conflicts of interest between their personal interests and the interests of a Fund in an ethical manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Be familiar with the disclosure requirements generally applicable to the Funds and take all reasonable
actions, consistent with their position(s) with a Fund and/or a Fund's service providers(s) to ensure full, fair, accurate, timely,
and understandable disclosure in reports and documents that a Fund files with, or submits to, the SEC or other governmental authorities,
and in other public communications made by a Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Comply with applicable governmental laws, rules, and regulations in their dealings with or on behalf of
a Fund, and take all reasonable actions, consistent with their positions(s) with a Fund and/or Fund's service provider(s), to ensure
compliance by the Fund with applicable governmental laws, rules, and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Take all reasonable actions, consistent with their position(s) with a Fund and/or a Fund's service
provider(s), to ensure prompt internal reporting of violations of this Code to an appropriate person or persons identified in this Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Not knowingly misrepresent, or knowingly cause or permit others to misrepresent, facts about a Fund to
a Fund's shareholders, directors, counsel, or auditors, to governmental regulators or self-regulatory organizations, or to the public;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Consult with other officers of a Fund, and its adviser(s), administrator, and principal underwriter, with
the goal of promoting full, fair, accurate, timely, and understandable disclosure in the reports and documents the Fund files with, or
submits to, the SEC, and in other public communications made by the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Promote compliance by the Funds with the standards and restrictions imposed by applicable governmental
laws, rules, and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Not influence investment decisions or financial or other reporting by the Fund whereby the Covered Officer
would benefit personally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Not cause a Fund to take an action, or fail to take an action, whereby the Covered Officer would benefit
personally; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Not retaliate or take any adverse action against, or cause or permit any retaliation or adverse action
to be taken against, any other Covered Officer or any employee of the Funds or their affiliated persons for reports of potential violations
of this Code or of applicable governmental laws, rules, and regulations that are made in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***B.***  ***Definitions*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.***  ***Conflicts of Interest*** 

For the purposes of this Code:

&nbsp;&nbsp;&nbsp;&nbsp;(i) an actual conflict of interest is a situation in which a Covered Officer, a member of a Covered Officer's
immediate family, or an entity other than a Fund on whose behalf a Covered Officer is acting or from which a Covered Officer may receive
compensation or other personal benefit, has an interest in a transaction or the results of a transaction in which a Fund is involved that
is different from the interests of the Funds with regarding to that same transaction, and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) an "apparent conflict of interest" is a situation in which a Covered Officer, a member of
a Covered Officer's immediate family, or an entity other than a Fund on whose behalf a Covered Officers is acting or from which
a Covered Officer may receive compensation or other personal benefit, appears to have an actual conflict of interest, without regard to
whether an actual conflict of interest in fact exists.<sup>1</sup>

These inherent conflicts of interest are known to and understood by the Funds and the Board, and the Board has determined that the existence of these conflicts of interest is consistent with the performance by the Covered Officers of their duties as officers of the Fund. Therefore, the fact that a Covered Officer acts primarily or exclusively on behalf of a party other than a Fund regarding a transaction that is covered by such inherent conflicts of interest shall not *ipso facto* cause such conduct to be in violation of the requirements of this Code. Absent specific dishonest or unethical conduct in such a transaction, the actions by a Covered Officer in such regard shall be deemed to be honest and ethical conduct, including the ethical handling or actual or apparent conflicts of interest between personal and professional relationships.

<sup>1</sup> Certain conflicts of interest are inherent in the relationship between a Fund and a Covered Officer who is employed by the Fund's investment adviser, administrator, or principal underwriter. As a result, this Code recognizes that Covered Officers will, in the normal course of their duties (whether acting on behalf of a Fund or on behalf of the adviser, the administrator or the principal underwriter, or a combination thereof) be involved in the recommending actions that may have different effects on the respective parties or may rebound to the benefit of the adviser, the administrator or the principal underwriter at the expense of the Fund. For example, the negotiation of the underlying advisory, administrative, and underwriting agreements necessarily places such Covered Officers in an actual conflict of interest position as to a Fund.

Notwithstanding the foregoing, an actual conflict of interest shall not include situations that are covered by law of the Funds' and an investment adviser's code of ethics required under Rule 17j-1 of the Investment Company Act of 1940 ("Investment Company Act").<sup>2</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.***  ***Waiver and Implicit Waiver*** 

The term "waiver" means the approval by a Fund of a material departure from a provision of this Code. The term "implicit waiver" means a failure by a Fund to act within a reasonable period of time regarding material departure from a provision of this Code that has been made known to an executive officer<sup>3</sup> of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.***  ***Benefit Personally; Immediate Family*** 

Regarding a Covered Officer, the term "benefit personally" means the direct or indirect receipt by the Covered Officer, be a member of the Covered Officer's immediate family, or by any entity (other than a Fund's investment adviser or any affiliate thereof) of which the Covered Officer or any member of the Covered Officer's immediate family owns 5% or more of the beneficial ownership interest or by which the Covered Officer or any member of the Covered Officer's immediate family is employed, or from which the Covered Officer or any member of the Covered Officer's immediate family receives any compensation or other benefit, or any compensation or other personal benefit. For the purposes of this Code, the term "member of the immediate family" means a Covered Officer's parent, spouse of a parent, child, spouse of a child, spouse, sibling, and includes step and adoptive/foster relationships.

<sup>2</sup> These inherent conflicts of interest are already subject to prohibitions in the Investment Company Act and the Investment Advisers Act of 1940 (the "Investment Advisers Act"). For example, a Covered Officer may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as an "affiliated person" of the Fund. The Funds' and the investment adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat and replace those programs and procedures, and such actual and apparent conflicts of interest fall outside the coverage of this Code. All other actual and apparent conflicts of interest are not subject to provisions in the Investment Company Act or the Investment Advisers Act, are covered by this Code.

<sup>3</sup> The term "executive officer" when used with reference to a registrant, means its president, any vice president of the registrant in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy making function or any other person who performs similar policy making functions for the registrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***C.***  ***Activities Requiring Prior Approval*** 

A Covered Officer and their immediate family shall not engage in any of the following activities without the prior written approval of the Funds' Chief Legal Officer ("CLO") and the Funds' Chief Executive Officer, except that in the case of the Chief Executive Officer or a member of the Chief Executive Officer's immediate family, such approval shall be from the CLO and the Compliance Committee of the Board. To obtain such approval, the Covered Officer shall submit a written statement to the CLO describing in detail the proposed activity and the reasons for the activity.

&nbsp;&nbsp;&nbsp;&nbsp;1. Service as a director, partner, officer, manager, or managing member on the board of any public or private
company<sup>4</sup> other than a Fund's investment adviser, administrator, principal underwriter, or an affiliate or any of the
foregoing, if such company has current or prospective business dealings with a Fund or if a Fund may invest in securities issued by such
company;

&nbsp;&nbsp;&nbsp;&nbsp;2. Receipt of any entertainment<sup>5</sup> or meals from any company with which a Fund has current or
prospective business dealings unless such entertainment or meals are business-related, reasonable in cost, appropriate as to time and
place, and not so frequent as to raise any question of impropriety. For the purposes of this Code, entertainment and meals that are incidental
to a business conference, seminar or meeting shall be deemed business-related, reasonable in cost, and appropriate as to time and place;

&nbsp;&nbsp;&nbsp;&nbsp;3. Have any ownership interest in, or any consulting, employment, or compensation relationship with, any
of a Fund's service providers, other than its investment adviser(s), administrator, principal underwriter, or any affiliated person
thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;4. Exploit for their own personal gain any opportunity which a Fund may exploit. This prohibition shall not
apply to securities trading undertaken in conformance with the Funds' and an investment adviser's code of ethics adopted pursuant
to Rule 17j-1 of the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***D.***  ***Prohibited Activities*** 

A Covered Officer and their immediate family shall not engage in any of the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;1. Have a direct or indirect financial interest, such as compensation or equity ownership, in commissions,
transaction charges or spreads paid by the Fund for effecting portfolio transaction or for selling or redeeming shares other than an interest
arising from the Covered Officer's employment with a Fund's investment adviser, administrator, principal underwriters, or
any affiliated person thereof;

&nbsp;&nbsp;&nbsp;&nbsp;2. Receive any gifts in excess of $500 in any calendar year from any entity or person that directly or indirectly
currently or prospectively does or will do business with or receives compensation or other benefits from a Fund. For the purposes of this
restriction, gifts from different persons employed by the same entity shall be aggregated, along with any gifts from the entity itself,
in order to determine whether the $500 limit has been exceeded;

&nbsp;&nbsp;&nbsp;&nbsp;3. Accept employment from any company, other than a Fund's investment adviser(s), administrator, or
principal underwriter (or any affiliate thereof), with which the Fund has current or prospective business dealings within one year after
the latest to occur of such Covered Officer's termination of employment at the Fund or at the Fund's investment adviser(s)
administrator or principal underwriter (or any affiliate thereof);

<sup>4</sup> For the purposes of this Code, "company" includes any legal or business entity such as a corporation, limited liability company, partnership, limited partnership, trust, association, sole proprietorship, etc.

<sup>5</sup> For the purposes of this Code, "entertainment" means activities or events, such as golfing, theater, sporting events, etc., at which a representative of the entertaining company is present along with the Covered Officer or their immediate family member. If a representative of the entertaining company is not present, such activities or events shall be treated as gifts hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;4. Borrow money from any Fund, or borrow money from or have any other financial transactions with any company,
other than a Fund's investment adviser(s), administrator or principal underwriter (or any affiliate thereof), with which the Fund
has current or prospective business dealings, other than routine retail transactions that are effected on the same terms and conditions
as are available to the general public;

&nbsp;&nbsp;&nbsp;&nbsp;5. Engage in a transaction directly as a principal with a Fund, except that this prohibition shall not apply
to the purchase or redemption of the shares of any Fund on the same terms and conditions as all other shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;6. Any other activity that would cause them to benefit personally
at the expense of a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***E.***  ***Covered Officer Reporting*** 

Each Covered Officer shall:

&nbsp;&nbsp;&nbsp;&nbsp;1. Upon adoption of this Code (or thereafter, as applicable, upon becoming a Covered Officer), affirm in
writing to the CLO and the Board that they have received, read, and understand this Code. Such affirmation shall be substantially in the
form attached hereto as  ***Exhibit A*** .

&nbsp;&nbsp;&nbsp;&nbsp;2. Annually affirm to the CLO and the Board that they have complied with the requirements of this Code. Such
affirmation shall be substantially in the form attached hereto as  ***Exhibit B*** .

&nbsp;&nbsp;&nbsp;&nbsp;3. Report at least annually all employment, ownership, affiliations, or other relationships related to conflicts
of interest that are included in the Fund's Directors and Officers Questionnaire.

&nbsp;&nbsp;&nbsp;&nbsp;4. Notify the CLO promptly if they know of any violation of this Code or of any applicable governmental laws,
rules, and regulations. Failure to do so would be deemed a violation of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***F.***  ***Investigations*** 

The Funds shall follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;1. The CLO shall take all appropriate action to investigate any potential violations reported to him or her;

&nbsp;&nbsp;&nbsp;&nbsp;2. If, after such investigation, the CLO believes that no violation has occurred, the CLO shall not be required
to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;3. If, after such investigation, the CLO believes that a violation has occurred, the CLO shall report such
violation to the Compliance Committee; and

&nbsp;&nbsp;&nbsp;&nbsp;4. If the Compliance Committee concurs that a violation has occurred, it shall inform and make a recommendation
to the Board, which shall consider appropriate action that may include review of, and appropriate modifications to, applicable policies
and procedures, notification to appropriate personnel of the investment adviser or its board, and a recommendation to discipline or dismiss
the Covered Officer or to require reimbursement or disgorgement by the Covered Officer of any personal benefits received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***G.***  ***Waivers*** 

The Compliance Committee and the CLO, as applicable, may grant a waiver to compliance with the Code by a Covered Officer or their immediate family if the Compliance Committee or the CLO determines that the proposed activity will not have an adverse impact on a Fund or on the ability of a Covered Officer to faithfully perform their other duties to the Funds. To obtain a waiver, a Covered Officer shall submit a written statement to the CLO describing in detail the proposed activity, and the reasons for the activity, and the provision(s) of this Code as to which a waiver is requested. Any waivers of the provisions of this Code shall be disclosed to the extent required by law and SEC rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***H.***  ***Relationship to Other Policies and Procedures*** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, the Funds' adviser(s), administrator, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Funds' and their investment advisers' and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***I.***  ***Interpretation of the Code*** 

 ****

The CLO has the authority and shall be responsible for applying this Code to specific situations and for making interpretations of this Code in a particular situation. In making interpretations of this Code, the CLO may consult with the Funds' outside counsel as well as counsel to the independent Board members.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***J.***  ***Confidentiality*** 

All reports and records prepared or maintained pursuant to this Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the appropriate Board or committee thereof or the Funds' outside counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***K.***  ***Internal Use*** 

This Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of any Fund or any Covered Officer or their immediate family, as to any fact, circumstance, or legal conclusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***L.***  ***Amendments*** 

Any amendments to this Code must be approved or ratified by a majority vote of the Board, including a majority of the independent directors. Material amendments to this Code shall be disclosed to the extent required by law and SEC rules.

**<u>Exhibit A</u>**

**Voya Funds Sarbanes-Oxley Act Code of Ethics**

**Initial Acknowledgement**

Covered Officer Name and Title:   <br> *(please print)*

I acknowledge that I have received and read a copy of the Voya Funds Sarbanes-Oxley Act Code of Ethics ("Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.

I also acknowledge my responsibility to report any violation of the Code to the Chief Legal Officer of the Funds.

I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Funds have the right to amend, interpret, modify or withdraw any of the provisions of the Code at any time in their sole discretion, with or without notice.

    <br> Signature Date

**<u>Exhibit B</u>**

**Voya Funds Sarbanes-Oxley Act Code of Ethics**

**Annual Acknowledgement**

Covered Office Name and Title:   <br> *(please print)*

I acknowledge that I have received and read a copy of the Voya Funds Sarbanes-Oxley Act Code of Ethics ("Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.

I also acknowledge that I have fully complied with the terms and provisions of the Code during the time period since the most recent Initial or Annual Acknowledgement provided by me.

I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Funds have the right to amend, interpret, modify, or withdraw any of the provisions of the Code at any time in their sole discretion, with or without notice.

    <br> Signature Date

## 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: June 5, 2026 | /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: June 5, 2026 | /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 <br> <br> Date of Form N-CSR: March 31, 2026

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 5<sup>th</sup> day of June, 2026.

---

| |
|:---|
| /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 <br> <br> Date of Form N-CSR: March 31, 2026

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 5<sup>th</sup> day of June, 2026.

---

| |
|:---|
| /s/ Todd Modic |
| Todd Modic |
| Principal Financial Officer |

---