Overview
Fund Tagline
Short Duration Bonds May Help Protect Investors in a Rising Rate Environment
Fund Description
A broadly diversified, actively managed short-duration bond fund that seeks to maximize total return, generate income and reduce an investor’s overall duration exposure
Product Facts
| Ticker Symbol | IASBX |
| CUSIP | 92913L502 |
| Inception Date | December 19, 2012 |
| Dividends Paid | Monthly |
| Min. Initial Investment | $1,000.00 |
- Maintains a short duration profile of 1-3 years, primarily investing in investment grade securities with a maximum 20% allocation to below investment grade securities.
- Disciplined, value investment style from stable, experienced team.
- Leverages proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.
The Fund seeks maximum total return.
- Maintains a short duration profile of 1-3 years, primarily investing in investment grade securities with a maximum 20% allocation to below investment grade securities.
- Disciplined, value investment style from stable, experienced team.
- Leverages proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.
The Fund seeks maximum total return.
Performance
Yields
As of June 30, 2025
| SEC 30-Day Yield (Unsubsidized) SEC 30-Day Yield (Unsubsidized) A standardized yield calculation created by the SEC, it reflects the income earned during a 30-day period, after the deduction of the fund's gross expenses. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. | 3.54 |
| SEC 30-Day Yield (Subsidized) SEC 30-Day Yield (Subsidized) A standardized yield calculation created by the SEC, it reflects the income earned during a 30-day period, after the deduction of the fund's net expenses (net of any expense waivers or reimbursements). | 3.54 |
| Distribution Yield @ NAV Distribution Yield @ NAV Current annualized distribution rate based upon NAV is the latest dividend shown as an annualized percentage of net asset value. This yield does not include the return of principal or other non-income sources. | 4.56 |
| Distribution Yield @ MOP Distribution Yield @ MOP Current annualized distribution rate, based upon maximum offering price which is adjusted for sales changes (MOP), where applicable, is the latest dividend shown as an annualized percentage of maximum offering price. This yield does not include the return of principal or other non-income sources. | 4.44 |
Average Annual Total Returns %
As of June 30, 2025
As of June 30, 2025
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +3.00 | +6.18 | +3.94 | +1.91 | +1.83 | 0.64% | 0.63% |
| With Sales Charge | +0.42 | +3.50 | +3.07 | +1.40 | +1.58 | ||
| Net Asset Value | +3.00 | +6.18 | +3.94 | +1.91 | +1.83 | 0.64% | 0.63% |
| With Sales Charge | +0.42 | +3.50 | +3.07 | +1.40 | +1.58 | ||
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | +2.92 | +5.94 | +3.75 | +1.58 | +1.84 | — | — |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | +2.92 | +5.94 | +3.75 | +1.58 | +1.84 | — | — |
Inception Date - Class A: December 19, 2012
Current Maximum Sales Charge: 2.50%
The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above "Average Annual Total Returns %" for performance information current to the most recent month-end.
Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.
Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material, nor guarantee the accuracy or completeness of any information herein, nor make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, shall not have any liability or responsibility for injury or damages arising in connection therewith.
The Bloomberg U.S. Government/Credit 1-3 Year Index covers treasuries, agencies, publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. Moreover, the index is fully invested, which includes the reinvestment of income.
Past performance does not guarantee future results.
Returns-Based Characteristics
As of June 30, 2025
| 3 Year | 5 Year | 10 Year | |
|---|---|---|---|
| Alpha Alpha A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta. | 0.27 | 0.47 | 0.01 |
| Beta Beta The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index. | 1.08 | 1.10 | 1.03 |
| Information Ratio Information Ratio The ratio of portfolio returns in excess of a market index to the variability of those excess returns; in effect, information ratio describes the value added by active management in relation to the risk taken to achieve those returns. | 0.29 | 0.46 | -0.01 |
| R2 R2 The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification. | 0.93 | 0.90 | 0.50 |
| Sharpe Ratio Sharpe Ratio A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. | -0.40 | -0.49 | -0.11 |
| Standard Deviation Standard Deviation A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk. | 2.38 | 2.25 | 2.22 |
Average Annual Total Returns %
As of June 30, 2025
As of June 30, 2025
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +3.00 | +6.18 | +3.94 | +1.91 | +1.83 | 0.64% | 0.63% |
| With Sales Charge | +0.42 | +3.50 | +3.07 | +1.40 | +1.58 | ||
| Net Asset Value | +3.00 | +6.18 | +3.94 | +1.91 | +1.83 | 0.64% | 0.63% |
| With Sales Charge | +0.42 | +3.50 | +3.07 | +1.40 | +1.58 | ||
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | +2.92 | +5.94 | +3.75 | +1.58 | +1.84 | — | — |
| Bloomberg U.S. 1-3 Year Government/Credit Bond Index | +2.92 | +5.94 | +3.75 | +1.58 | +1.84 | — | — |
Inception Date - Class A: December 19, 2012
Current Maximum Sales Charge: 2.50%
The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above "Average Annual Total Returns %" for performance information current to the most recent month-end.
Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.
Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material, nor guarantee the accuracy or completeness of any information herein, nor make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, shall not have any liability or responsibility for injury or damages arising in connection therewith.
The Bloomberg U.S. Government/Credit 1-3 Year Index covers treasuries, agencies, publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. Moreover, the index is fully invested, which includes the reinvestment of income.
Past performance does not guarantee future results.
Returns-Based Characteristics
As of June 30, 2025
| 3 Year | 5 Year | 10 Year | |
|---|---|---|---|
| Alpha Alpha A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta. | 0.27 | 0.47 | 0.01 |
| Beta Beta The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index. | 1.08 | 1.10 | 1.03 |
| Information Ratio Information Ratio The ratio of portfolio returns in excess of a market index to the variability of those excess returns; in effect, information ratio describes the value added by active management in relation to the risk taken to achieve those returns. | 0.29 | 0.46 | -0.01 |
| R2 R2 The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification. | 0.93 | 0.90 | 0.50 |
| Sharpe Ratio Sharpe Ratio A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. | -0.40 | -0.49 | -0.11 |
| Standard Deviation Standard Deviation A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk. | 2.38 | 2.25 | 2.22 |
Portfolio
Portfolio Statistics
As of July 31, 2025
| Net Assets millions Net Assets The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. | $637.5 |
| Number of Holdings Number of Holdings Number of Holdings in the investment. | 700 |
| Duration years | 2.31 |
| Weighted Average Life years Weighted Average Life The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes. | 2.34 |
| Total |
Top Issuers
As of June 30, 2025
| FANNIE MAE FNMA_24-93 | 2.43 |
| FANNIE MAE FNMA_24-103 | 2.16 |
| JPMORGAN CHASE & CO | 1.63 |
| FREDDIEMAC STRIP FHSTR_406 | 1.09 |
| MORGAN STANLEY | 1.03 |
| BANK OF AMERICA CORP | 0.89 |
| FEDERAL HOME LOAN MORTGAGE CORPORATION FHLMC-5410 | 0.84 |
| FREDDIE MAC FHLMC_3136 | 0.69 |
| DC COMMERCIAL MORTGAGE TRUST DC_23-DC | 0.68 |
| ROYAL BANK OF CANADA | 0.67 |
| Total | #,###.2 |
Credit Quality
As of June 30, 2025
| Treasuries/Cash | 8.79 |
| AAA | 21.58 |
| AA | 18.70 |
| A | 20.75 |
| BBB | 19.77 |
| BB | 5.53 |
| B | 3.47 |
| <B | 0.00 |
| Not Rated | 1.41 |
| Total | #,###.2 |
Credit quality is based on third-party agency ratings , ranging from AAA (highest) to D (lowest). If ratings are available from each of S&P, Moody's and Fitch, the security is assigned the median rating. If ratings are available from only two of these agencies, the lower rating is assigned. If a rating is available from only one of these three agencies, then that rating is used. If none of S&P, Moody's and Fitch rate the security but it has a Morningstar DBRS rating, then the Morningstar DBRS rating is used (see https://dbrs.morningstar.com/about/disclaimer). Any security that is not rated by these four agencies is placed in the Not Rated (NR) category. Ratings do not apply to the Fund itself or to the Fund shares. Ratings may not accurately reflect risk and are subject to change.
Sector Allocation
As of June 30, 2025
| IG Corporates | 42.33 |
| Asset Backed Securities | 14.64 |
| CMBS | 14.63 |
| Agency Mortgages | 10.65 |
| US Treasury & Cash | 8.72 |
| HY Corporates | 8.42 |
| Non-Agency RMBS and SF CRT | 0.22 |
| Emerging Markets | 0.20 |
| Government Related | 0.19 |
| Total | #,###.2 |
Maturity Details
As of June 30, 2025
| Cash | 2.01 |
| <1 Year | 15.92 |
| 1-3 Years | 54.09 |
| 3-5 Years | 25.67 |
| 5-7 Years | 1.54 |
| 7-10 Years | 0.77 |
| 10-20 Years | 0.00 |
| >20 Years | 0.00 |
| Total | #,###.2 |
Maturity allocations are based on securities’ Average Life, which incorporates pre-payment assumptions and can thus be much different than a bond’s maturity date, particularly in the case of mortgage-backed securities.
Portfolio Statistics
As of July 31, 2025
| Net Assets millions Net Assets The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. | $637.5 |
| Number of Holdings Number of Holdings Number of Holdings in the investment. | 700 |
| Duration years | 2.31 |
| Weighted Average Life years Weighted Average Life The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes. | 2.34 |
| Total |
Top Issuers
As of June 30, 2025
| FANNIE MAE FNMA_24-93 | 2.43 |
| FANNIE MAE FNMA_24-103 | 2.16 |
| JPMORGAN CHASE & CO | 1.63 |
| FREDDIEMAC STRIP FHSTR_406 | 1.09 |
| MORGAN STANLEY | 1.03 |
| BANK OF AMERICA CORP | 0.89 |
| FEDERAL HOME LOAN MORTGAGE CORPORATION FHLMC-5410 | 0.84 |
| FREDDIE MAC FHLMC_3136 | 0.69 |
| DC COMMERCIAL MORTGAGE TRUST DC_23-DC | 0.68 |
| ROYAL BANK OF CANADA | 0.67 |
| Total | #,###.2 |
Credit Quality
As of June 30, 2025
| Treasuries/Cash | 8.79 |
| AAA | 21.58 |
| AA | 18.70 |
| A | 20.75 |
| BBB | 19.77 |
| BB | 5.53 |
| B | 3.47 |
| <B | 0.00 |
| Not Rated | 1.41 |
| Total | #,###.2 |
Credit quality is based on third-party agency ratings , ranging from AAA (highest) to D (lowest). If ratings are available from each of S&P, Moody's and Fitch, the security is assigned the median rating. If ratings are available from only two of these agencies, the lower rating is assigned. If a rating is available from only one of these three agencies, then that rating is used. If none of S&P, Moody's and Fitch rate the security but it has a Morningstar DBRS rating, then the Morningstar DBRS rating is used (see https://dbrs.morningstar.com/about/disclaimer). Any security that is not rated by these four agencies is placed in the Not Rated (NR) category. Ratings do not apply to the Fund itself or to the Fund shares. Ratings may not accurately reflect risk and are subject to change.
Sector Allocation
As of June 30, 2025
| IG Corporates | 42.33 |
| Asset Backed Securities | 14.64 |
| CMBS | 14.63 |
| Agency Mortgages | 10.65 |
| US Treasury & Cash | 8.72 |
| HY Corporates | 8.42 |
| Non-Agency RMBS and SF CRT | 0.22 |
| Emerging Markets | 0.20 |
| Government Related | 0.19 |
| Total | #,###.2 |
Maturity Details
As of June 30, 2025
| Cash | 2.01 |
| <1 Year | 15.92 |
| 1-3 Years | 54.09 |
| 3-5 Years | 25.67 |
| 5-7 Years | 1.54 |
| 7-10 Years | 0.77 |
| 10-20 Years | 0.00 |
| >20 Years | 0.00 |
| Total | #,###.2 |
Maturity allocations are based on securities’ Average Life, which incorporates pre-payment assumptions and can thus be much different than a bond’s maturity date, particularly in the case of mortgage-backed securities.
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Distributions
Payment Frequency: Monthly
| Distributions | Ex-Date
Ex-Date Date on which a stock begins trading without the benefit of the dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date. | Amount | ||
|---|---|---|---|---|
| Income Dividend | 07/31/2025 | $0.036508 | ||
| Income Dividend | 06/30/2025 | $0.035214 | ||
| Income Dividend | 05/30/2025 | $0.036499 | ||
| Income Dividend | 04/30/2025 | $0.034536 | ||
| Income Dividend | 03/31/2025 | $0.034896 | ||
| Income Dividend | 02/28/2025 | $0.031416 | ||
| Income Dividend | 01/31/2025 | $0.034720 | ||
| Income Dividend | 12/31/2024 | $0.035185 | ||
| Income Dividend | 11/29/2024 | $0.034710 | ||
| Income Dividend | 10/31/2024 | $0.036147 | ||
| Income Dividend | 09/30/2024 | $0.035460 | ||
| Income Dividend | 08/30/2024 | $0.036952 | ||
| Income Dividend | 07/31/2024 | $0.036425 | ||
| Totals: $0.458669 | ||||
Income Dividend: Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.
Short-Term Capital Gain: The profit realized from the sale of securities held for less than one year.
Long-Term Capital Gain: Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.
Investment Team
Portfolio Management Team
Voya Investments, LLC
Investment Adviser
Voya Investment Management Co. LLC
Investment Sub-Adviser
Sean Banai, CFA
Head of Multi-Sector Fixed Income
Years of Experience: 26
Years with Voya: 26
Dave Goodson
Head of Securitized
Years of Experience: 29
Years with Voya: 23
Randy Parrish, CFA
Head of Public Credit
Years of Experience: 35
Years with Voya: 24
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. You could lose money on your investment and any of the following risks, among others, could affect investment performance. The following principal risks are presented in alphabetical order which does not imply order of importance or likelihood: Bank Instruments; Collateralized Loan Obligations and Other Collateralized Obligations; Company; Covenant-Lite Loans; Credit; Credit Default Swaps; Currency; Derivative Instruments; Environmental, Social, and Governance (Fixed Income); Floating Rate Loans; Foreign (Non-U.S.) Investments; High-Yield Securities; Interest in Loans; Interest Rate; Investment Model; Liquidity; Market; Market Capitalization; Market Disruption and Geopolitical; Mortgage- and/or Asset-Backed Securities; Municipal Obligations; Other Investment Companies; Portfolio Turnover; Preferred Stocks; Prepayment and Extension; Restricted Securities; Securities Lending; Sovereign Debt; U.S. Government Securities and Obligations. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risks.
The fund discussed may be available to you as part of your employer sponsored retirement plan. There may be additional plan level fees resulting in personal performance that varies from stated performance. Please call your benefits office for more information.