Class A: VTROX
Class I: IRSQX
Class R6: VTRPX
For more information call 1 (800) 334-3444
Voya Target Retirement 2050 Fund
A Target Date Choice to Help Keep Retirement Goals on Track
Voya’s Target Retirement Funds are designed to specifically balance the evolving risk-return profiles of participants as they age to maximize the probability of a successful retirement. The target date in the funds’ name is the approximate date when investors plan to start withdrawing their money.
Daily Prices
as of April 1, 2024
| Net Asset Value (NAV) | $14.10 |
| % Change | -0.28 |
| $ Change | -0.04 |
| YTD Return | 7.14% |
View Standardized PerformanceLook up historical prices
The Voya Target Retirement 2050 Fund Offers
Participant Focused Glide Path
Multi-Manager*
Active/Passive Blend
A Portfolio that Adjusts as Participants' Careers Progress
At Voya, our glide path relative to peers has a higher equity allocation for younger participants to build wealth and a lower equity allocation for participants near and in retirement to reduce risk in those critical years. Younger participants can afford to take on more investment risk in exchange for greater potential returns. However, in the later years, participants are more vulnerable to a market downturn, particularly the day they retire.
Source: Voya Investment Management
The Portfolio may periodically deviate from the Target Allocation, generally within the range of +/- 10% relative to the current Target Allocation. The sub-adviser may determine to deviate by a wider margin in order to protect the Portfolio, achieve its investment objective, or to take advantage of particular opportunities. This chart is for illustrative purposes only and may not reflect the current allocations of the Voya Target Solution Trust Series. This illustration is intended to show how the Voya Target Solution Trust Series transitions over time.
The Voya Difference
- Participant Focused Glide Path
Seeks to maximize wealth in early years and reduce risk in later years. More equity relative to peers in early years, less equity relative to peers in later years† - Multi-Manager*
Voya is a pioneer of the multi-manager TD approach, with 10 years+ of experience. Access to Voya’s investment capabilities and other well-recognized asset managers - Active/Passive Blend
Active managers offer the potential for excess returns in less efficient asset classes. Passive managers offer cost effective exposure to highly efficient asset classes within a competitive fee structure
†Between 50-40 years out from the fund’s ‘target date’ the Voya Target Retirement Funds allocate 95% to equities compared to the industry average of 89%. At the ‘target date’ the Voya Target Retirement Funds allocate 35% to equities compared to the industry average of 42%. Source: Morningstar. Average includes all mutual fund and VP target date suites in Morningstar. Equity allocations based on Years to Target (YTT) Stock glide path data in Morningstar® Direct.
* Multi-Manager refers to the use of investment managers including Voya Investment Management and outside managers, which may be offered through affiliated sub-advised funds. The Target Retirement Funds have a 50% cap on the use of unaffiliated funds.
Product Facts
| Ticker Symbol | VTROX |
| CUSIP | 92913M559 |
| Inception Date | December 21, 2015 |
| Dividends Paid | Annually |
| Min. Initial Investment | $1,000.00 |
About this Product
Voya Target Retirement Funds maximize asset accumulation in the early years of participants’ careers, taking aggressive equity positions. The funds shift emphasis to asset protection in later years, reducing risk and ultimately reaching their most conservative equity allocation of 35% at retirement to help investors hold onto what they have accumulated in a lifetime of saving.
The Voya Target Retirement 2050 Fund is designed for people who plan to begin living their retirement goals in the years 2048 to 2052. Currently, it is designed to maximize wealth accumulation.
Investment Objective
Until the day prior to its Target Date, the Fund seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2050. On the Target Date, the Fund's investment objective will be to seek to provide a combination of total return and stability of principal consistent with an asset allocation targeted to retirement.
Related Resources
Fund Holdings
Voya’s Holistic Approach to Target Date Design
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Performance
Average Annual Total Returns %
As of February 29, 2024
As of December 31, 2023
Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
| Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
|---|---|---|---|---|---|---|---|
| Gross | Net | ||||||
| Net Asset Value | +4.18 | +20.39 | +5.37 | +9.71 | +7.80 | 0.74% | 0.60% |
| With Sales Charge | -1.79 | +13.51 | +3.32 | +8.42 | +7.16 | ||
| Net Asset Value | +20.14 | +20.14 | +4.82 | +10.95 | +7.47 | 0.74% | 0.60% |
| With Sales Charge | +13.21 | +13.21 | +2.78 | +9.64 | +6.83 | ||
| S&P Target Date 2050 Index | +3.77 | +18.99 | +6.22 | +9.58 | +8.22 | — | — |
| S&P Target Date 2050 Index | +19.59 | +19.59 | +5.84 | +10.92 | +7.92 | — | — |
Inception Date - Class A:December 21, 2015
Inception Date - Class I:December 20, 2012
Current Maximum Sales Charge: 5.75%
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.
The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, investment-related costs, leverage expenses, and extraordinary expenses and may be subject to possible recoupment. Please see the Fund's prospectus for more information. The expense limits will continue through at least Oct 1 2024 12:00AM. Expenses are being waived to the contractual cap. The Fund's Acquired (Underlying) Funds Fees and Expenses are based on a weighted average of the fees and expenses of the Underlying Funds in which it invests. The amount of fees and expenses of the Underlying Funds borne by the Fund will vary based on the Fund's allocation of assets to, and annualized net expenses of, the particular Underlying Funds during the Fund's fiscal year.
Historical performance shown for Class A reflects the historical performance of Class I shares adjusted to reflect the higher expenses of Class A for periods prior to the inception date of Class A and is being shown in blue text. Historical performance of Class A shares likely would have been different based on differences in share class expense ratios.
The S&P Target Date® Index Series consists of twelve multi-asset class indices, each corresponding to a particular target retirement date. The benchmark asset allocation and glide path for each index in the series is determined once a year and represents market consensus across the universe of target date fund managers. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot directly invest in an index.
Past performance does not guarantee future results.
Returns-Based Characteristics
As of February 29, 2024
| 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. | -0.89 | -0.12 | — |
| 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. | 1.04 | 1.04 | — |
| 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. | -0.57 | 0.09 | — |
| 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. | 0.99 | 0.99 | — |
| 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. | 0.16 | 0.44 | — |
| 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. | 16.36 | 17.36 | — |
Growth of a $10,000 Investment
For the period 12/21/2015 through 02/29/2024
Ending Value: $20,667.00
The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.
Portfolio
Portfolio Statistics
As of February 29, 2024
| 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. | $80.9 |
| Number of Holdings Number of Holdings: Number of Holdings in the investment. | 10 |
| Total |
Top Holdings
% of Total Investments as of February 29, 2024
| TIAA-CREF S&P 500 Index Instl | 54.55 |
| Vanguard FTSE Developed Markets ETF | 15.47 |
| iShares Core S&P Mid-Cap ETF | 6.02 |
| Voya Intermediate Bond R6 | 4.98 |
| iShares Core S&P Small-Cap ETF | 4.00 |
| Voya Multi-Manager International Factors I | 3.99 |
| Voya Multi-Manager International Equity I | 3.99 |
| Voya VACS Series EME Fund | 2.99 |
| Vanguard Long-Term Treasury ETF | 2.00 |
| Vanguard FTSE Emerging Markets ETF | 2.00 |
| Total | #,###.2 |
View Complete Holdings
Portfolio Composition
as of February 29, 2024
| US Small Cap | 4.00 |
| Long Govt Bonds | 2.00 |
| Core Fixed Income | 4.98 |
| Emerging Markets | 4.99 |
| US Mid Cap Blend | 6.02 |
| International | 23.45 |
| US Large Blend | 54.55 |
| Total | #,###.2 |
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Ratings
Morningstar™ Ratings
As of February 29, 2024
| Overall | 3 Year | 5 Year | 10 Year |
|---|---|---|---|
| 186 Funds | 186 Funds | 170 Funds | 105 Funds |
Category: US Fund Target-Date 2050
Morningstar computes the extended performance return stream by appending an adjusted return history of the oldest share class. Next, the Extended Performance Rating is determined by comparing the adjusted-historical returns to the current investment universe to identify placement in the bell curve used to assign the Morningstar Rating. Extended Performance Ratings appear as hollow stars on reports and statistics calculated with extended performance data appear in italics for easy identification.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Distributions
Payment Frequency: Annually
| 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. | Payable Date Payable Date: Date on which a declared stock dividend or a bond interest payment is scheduled to be paid. | Record Date Record Date: Date on which a shareholder must officially own shares in order to be entitled to a dividend. After the date of record, the stock is said to be ex-dividend. | Amount | |
|---|---|---|---|---|
| Income Dividend | 12/28/2023 | 12/29/2023 | 12/27/2023 | $0.176200 |
| Totals: $0.176200 | ||||
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
View Fund Adviser/Sub Adviser
Portfolio Management Team
Voya Investments, LLC
Investment Adviser
Voya Investments, an Arizona limited liability company, serves as the investment adviser to the Fund. Voya Investments has overall responsibility for the management of the Fund. Voya Investments oversees all investment advisory and portfolio management services 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. Voya Investments is registered with the SEC as an investment adviser. Voya Investments' principal office is located at 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, Arizona 85258.
Voya Investment Management Co. LLC
Investment Sub-Adviser
Voya Investment Management Co. LLC (“Voya IM” or “Sub-Adviser”), a Delaware limited liability company, was founded in 1972 and is registered with the SEC as an investment adviser. Voya IM is an indirect, wholly-owned subsidiary of Voya Financial, Inc. and is an affiliate of the Adviser. Voya IM has acted as adviser or sub-adviser to mutual funds since 1994 and has managed institutional accounts since 1972. The principal office of Voya IM is located at 230 Park Avenue, New York, New York 10169.
Barbara Reinhard, CFA
Senior Managing Director, Chief Investment Officer, Multi-Asset Strategies and Solutions
Years of Experience: 31
Years with Voya: 8
Barbara Reinhard is the chief investment officer, multi-asset strategies and solutions at Voya Investment Management. She is responsible for the strategic direction and overall day-to-day portfolio management and human capital management of Voya’s multi-asset business. Prior to joining Voya, Barbara was the chief investment officer for Credit Suisse Private Bank in the Americas where she managed discretionary multi-asset portfolios and was a member of the global asset allocation and the employee pension investment committees. Prior to that, she worked at Morgan Stanley as the deputy chief investment strategist for the global wealth management division. Barbara earned a BA in economics from Trinity College and is a CFA® Charterholder.
Lanyon Blair, CFA, CAIA
Senior Vice President, Head of Manager Research and Selection
Years of Experience: 16
Years with Voya: 9
Lanyon Blair is a Head of Manager Research and Selection for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. He is responsible for manager research and selection activities across equity, fixed income, real estate and commodities asset classes for all of the MASS group’s multi-manager products, including risk-based, target date, portable alpha and other asset class fund of funds solutions. Prior to joining Voya, he was an investment analyst at Wells Fargo, focusing on research and due diligence of equity, real estate and multi-asset managers. Prior to that, he was a research analyst with Fidelity Investments covering equity and real estate managers for Fidelity’s retirement platform. Lanyon began his career as a consultant with FactSet Research Systems, where he worked closely with equity, fixed income and real estate research teams. Lanyon earned an MA in economics from American University and BA degrees in economics and criminal justice from Indiana University. He is a CFA® Charterholder and a Chartered Alternative Investment Analyst®.
Disclosures
Principal Risks
There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time, including the target date.
The “target date” is the approximate date when an investor plans to start withdrawing their money. When their target date is reached, they may have more or less than the original amount invested. For each target-date portfolio, until the day prior to its target date, the portfolio will seek to provide total returns consistent with an asset allocation targeted for an investor who is retiring in approximately each portfolio’s designated target year. On the target date, the portfolio will seek to provide a combination of total return and stability of principal.
Stocks are more volatile than bonds, and portfolios with a higher concentration of stocks are more likely to experience greater fluctuations in value than portfolios with a higher concentration in bonds. Foreign stocks and small- and mid-cap stocks may be more volatile than large-cap stocks. Investing in bonds also, entails credit risk and interest rate risk. Generally investors with longer timeframes can consider assuming more risk in their investment portfolio.
As with any portfolio, you could lose money on your investment in a Voya Target Retirement Fund. Although the strategy seeks to optimize risk-adjusted returns given various time horizons, you still may lose money and experience volatility. Forward looking asset class assumptions and market judgment are used to form the asset allocations for the Voya Target Retirement Fund. There is risk that you could achieve better returns in an underlying portfolio or other portfolios representing a single asset class than in the Voya Target Retirement Fund. Important factors to consider when planning for retirement include your expected expenses, sources of income, and available assets. Before investing in the Voya Target Retirement Fund, weigh your objectives, time horizon, and risk tolerance. The Voya Target Retirement Fund invests in many underlying portfolios which are exposed to the risks of different areas of the market. The higher a portfolio's allocation to stocks, the greater the risk. Diversification cannot assure a profit or protect against loss in a declining market.
