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Name

As of 03/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Voya Multi-Manager Mid Cap Value Fund

VMMCX | Fund

$8.69

$142 M

1.70%

$0.15

0.79%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$142 M

Holdings in Top 10

14.0%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.79%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 47.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 03/24/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Voya Multi-Manager Mid Cap Value Fund

VMMCX | Fund

$8.69

$142 M

1.70%

$0.15

0.79%

VMMCX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.93%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Voya Multi-Manager Mid Cap Value Fund
  • Fund Family Name
    Voya
  • Inception Date
    Feb 28, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Josef Lakonishok

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in common stocks of mid-capitalization companies. The Fund will provide shareholders with at least 60 days’ prior notice of any change in this investment policy.For this Fund, Hahn Capital Management, LLC (“Hahn Capital Management”), LSV Asset Management (“LSV”), and Voya Investment Management Co. LLC (“Voya IM”) (each, a “Sub-Adviser” and collectively, “ Sub-Advisers ” ) define mid-capitalization companies as those companies with market capitalizations that fall within the collective range of companies within the Russell Midcap®Index and the S&P MidCap 400® Index at the time of purchase. The market capitalization range of companies in these indices will change with market conditions. The market capitalization range of companies in the Russell Midcap® Index as of June 30, 2022 ranged from $1.9 billion to $46.5 billion. The market capitalization range of companies in the S&P MidCap 400®Index as of June 30, 2022 ranged from $1.8 billion to $23.3 billion.The Fund focuses on securities that the sub-advisers believe are undervalued in the marketplace.The Fund expects to invest primarily in securities of U.S.-based companies, but may also invest in securities of non-U.S. companies, including companies located in countries with emerging securities markets. Countries with developing and emerging markets include most countries in the world except Australia, Canada, Japan, New Zealand, Hong Kong, the United Kingdom, the United States, and most of the countries of western Europe.The Fund may also invest in real estate-related securities, including real estate investment trusts (“REITs”).The Fund may also invest in derivatives, including futures, as a substitute for securities in which the Fund can invest, for cash management, and/or to seek to enhance returns in the Fund.The Fund may invest in other investment companies, including exchange-traded funds (“ETFs”), to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations, and exemptive orders thereunder.Voya Investments, LLC (the “Investment Adviser”) allocates the Fund’s assets to different sub-advisers. When selecting sub-advisers, the Investment Adviser will typically consider environmental, social, and governance (“ESG”) factors as part of its investment analysis and decision-making processes. The Investment Adviser may, from time to time, directly manage a portion of the Fund’s assets to seek to manage the Fund’s overall risk exposure to achieve the Fund’s desired risk/return profile and to effect the Fund’s investment strategies. The Investment Adviser may invest in futures and ETFs to implement its investment process.The Sub-Advisers provide the day-to-day management of the Fund. The Sub-Advisers act independently of each other and use their own methodology for selecting investments. The Investment Adviser will determine the amount of Fund assets allocated to each Sub-Adviser.LSVLSV’s active investment strategy uses a quantitative investment model to evaluate and recommend investment decisions for the Fund in a bottom-up, contrarian value approach. The primary components of LSV’s quantitative model are:•indicators of fundamental undervaluation, such as low price-to-cash flow ratio or low price-to-earnings ratio;•indicators of past negative market sentiment, such as poor past stock price performance;•indicators of recent momentum, such as high recent stock price performance; and•control of incremental risk relative to the Russell Midcap® Value Index.All such indicators are measured relative to the overall universe of mid-capitalization companies.Hahn Capital ManagementHahn Capital Management’s investment process, from beginning to end, seeks to identify, quantify and manage risk, with the goal of attempting to minimize capital losses. Hahn Capital Management believes that risk mitigation is best accomplished through a strategy that calls for investing in companies it believes possess high quality characteristics in three areas: 1) business model; 2) balance sheet; and 3) management skill. Hahn Capital Management generally holds between 30-35 companies in its investment portfolio. Hahn Capital Management employs a value style of investing focusing on the underlying intrinsic value of an investment, where intrinsic value is defined as the price that an educated strategic buyer would pay to gain a controlling interest in the underlying asset. Hahn Capital Management’s strategy is to purchase these assets at a discount to their value and hold them until the value is fully recognized by the broader market.Voya IMVoya IM employs a “passive management” approach designed to track the performance of a custom index created by FTSE Russell for Voya IM, the Russell Midcap Select Factor Index (“Index”). The Index is designed to capture risk exposure to a broad set of four factors that contribute to equity performance. These four factors are Momentum, Quality, Value and Low Volatility. Each of these factors is supported by academic research, with strong theoretical explanations as to why the factor historically has provided a return premium. The companies eligible for inclusion in the Index are derived from its starting universe, the Russell Midcap® Index, which measures the performance of the mid-capitalization sector of the U.S. equity market, as defined by FTSE Russell. Companies are included in the Index based on a proprietary rules-based multi‐factor selection and weighting process designed to increase the Index’s exposure, relative to the starting universe, to companies demonstrating the four factors. As a result of the security selection process, the Index may be focused in one or more industries, which may change from time to time.Voya IM seeks to replicate the performance of the Index, meaning it generally will invest in all of the securities in the Index in weightings consistent with that of the Index. The Fund’s portfolio may not always hold all of the same securities as the Index. Voya IM may also invest in ETFs, stock index futures, and other derivatives as a substitute for the sale or purchase of securities in the Index and to provide equity exposure to the Fund’s cash position. Although Voya IM attempts to track, as closely as possible, the performance of the Index, the Fund’s portfolio does not always perform exactly like the Index. Unlike the Index, the Fund has operating expenses and transaction costs and therefore has a performance disadvantage versus the Index.Each Sub-Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.The Fund may lend portfolio securities on a short-term or long-term basis, up to 33 1∕3% of its total assets.
Read More

VMMCX - Performance

Return Ranking - Trailing

Period VMMCX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -10.6% 25.4% 96.60%
1 Yr N/A -34.3% 18.6% 95.04%
3 Yr N/A* -15.4% 27.4% 91.76%
5 Yr N/A* -14.0% 42.2% 58.44%
10 Yr N/A* -7.8% 20.4% 58.13%

* Annualized

Return Ranking - Calendar

Period VMMCX Return Category Return Low Category Return High Rank in Category (%)
2023 -17.5% -41.6% 42.6% 72.80%
2022 12.1% -23.5% 23.2% 75.80%
2021 -1.1% -8.6% 93.7% 67.30%
2020 N/A -2.6% 7.8% N/A
2019 N/A -8.8% 3.8% N/A

Total Return Ranking - Trailing

Period VMMCX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -19.1% 25.4% 93.46%
1 Yr N/A -34.3% 18.6% 95.04%
3 Yr N/A* -15.4% 27.4% 91.71%
5 Yr N/A* -12.6% 42.2% 55.70%
10 Yr N/A* -3.6% 21.5% 55.12%

* Annualized

Total Return Ranking - Calendar

Period VMMCX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.5% -41.6% 42.6% 75.20%
2022 29.9% -23.5% 23.2% 40.16%
2021 3.2% -8.6% 93.7% 45.41%
2020 N/A -2.6% 7.8% N/A
2019 N/A -7.6% 3.8% N/A

NAV & Total Return History

VMMCX - Holdings

Concentration Analysis

VMMCX Category Low Category High VMMCX % Rank
Net Assets 142 M 504 K 30.4 B 82.12%
Number of Holdings 447 9 2354 5.47%
Net Assets in Top 10 26.4 M 129 K 9.16 B 85.16%
Weighting of Top 10 14.01% 5.3% 99.9% 83.59%

Top 10 Holdings

  1. BlackRock Liquidity FedFund Instl 1.80%
  2. Laboratory Corp of America Holdings 1.57%
  3. Becton, Dickinson and Co 1.50%
  4. Mid-America Apartment Communities Inc 1.50%
  5. Jacobs Engineering Group Inc 1.48%
  6. CBRE Group Inc Class A 1.46%
  7. Equinix Inc 1.45%
  8. Virtu Financial Inc Class A 1.43%
  9. Ross Stores Inc 1.39%
  10. Genpact Ltd 1.36%

Asset Allocation

Weighting Return Low Return High VMMCX % Rank
Stocks 		98.16% 85.69% 100.65% 42.45%
Cash 		1.83% -0.65% 14.30% 59.64%
Preferred Stocks 		0.00% 0.00% 5.42% 15.10%
Other 		0.00% 0.00% 5.56% 17.97%
Convertible Bonds 		0.00% 0.00% 0.02% 14.32%
Bonds 		0.00% 0.00% 4.65% 16.93%

Stock Sector Breakdown

Weighting Return Low Return High VMMCX % Rank
Financial Services 		19.68% 0.00% 60.11% 32.03%
Industrials 		14.68% 0.00% 29.02% 57.55%
Technology 		13.54% 0.00% 30.07% 9.11%
Consumer Cyclical 		13.53% 0.00% 29.62% 26.30%
Real Estate 		11.37% 0.00% 40.74% 15.36%
Healthcare 		8.83% 0.00% 32.47% 48.70%
Basic Materials 		5.03% 0.00% 23.88% 56.51%
Consumer Defense 		5.00% 0.00% 33.79% 65.36%
Energy 		3.02% 0.00% 29.17% 85.42%
Utilities 		2.83% 0.00% 24.69% 77.60%
Communication Services 		2.50% 0.00% 19.80% 51.04%

Stock Geographic Breakdown

Weighting Return Low Return High VMMCX % Rank
US 		96.28% 55.79% 100.30% 32.29%
Non US 		1.88% 0.00% 36.04% 69.01%

VMMCX - Expenses

Operational Fees

VMMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.01% 16.27% 72.80%
Management Fee 0.71% 0.00% 1.20% 58.81%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

VMMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

VMMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VMMCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 47.00% 0.00% 227.00% 47.01%

VMMCX - Distributions

Dividend Yield Analysis

VMMCX Category Low Category High VMMCX % Rank
Dividend Yield 1.70% 0.00% 8.99% 48.19%

Dividend Distribution Analysis

VMMCX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

VMMCX Category Low Category High VMMCX % Rank
Net Income Ratio 0.93% -1.84% 4.73% 38.38%

Capital Gain Distribution Analysis

VMMCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

VMMCX - Fund Manager Analysis

Managers

Josef Lakonishok

Start Date

Tenure

Tenure Rank

Feb 10, 2014

8.31

8.3%

Dr. Lakonishok joined LSV in 1994, where he currently serves as Chief Executive Officer, Chief Investment Officer, Partner and Portfolio Manager Dr. Lakonishok has more than 30 years of investment and research experience. Dr. Lakonishok was, until 2004, the William G. Karnes Professor of Finance at the College of Commerce & Business Administration at the University of Illinois at Urbana-Champaign. Before that, he held staff and visiting professorships at Tel Aviv University, Cornell University, the University of North Carolina at Chapel Hill, and the University of British Columbia.

Menno Vermeulen

Start Date

Tenure

Tenure Rank

Feb 10, 2014

8.31

8.3%

Menno Vermeulen, CFA, is a Partner, Portfolio Manager and Senior Quantitative Analyst of LSV. Dr. Lakonishok joined LSV in 1994. Vermeulen has more than 21 years of investment experience. At LSV, Mr. Vermeulen has developed and written the software for our quantitative models and portfolio management system. He leads our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Mr. Vermeulen is also involved in the research process at LSV. Prior to joining LSV, he worked at ABP

Puneet Mansharamani

Start Date

Tenure

Tenure Rank

Feb 10, 2014

8.31

8.3%

Puneet Mansharamani, CFA, is a Partner, Portfolio Manager and Quantitative Analyst of LSV. Mr. Mansharamani has more than 14 years of investment experience. At LSV, Mr. Mansharamani is part of our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Prior to joining LSV, Mr. Mansharamani was an Analyst at Institutional Trust National City Corporation. His responsibilities included project management, systems development and designing financial and analytical applications fo

Guy Lakonishok

Start Date

Tenure

Tenure Rank

Jul 01, 2014

7.92

7.9%

Guy Lakonishok, CFA is a Partner, Portfolio Manager and Quantitative Analyst at LSV. Prior to joining LSV, Mr. Lakonishok was a Vice President in the Quantitative Equity group at BlackRock. His responsibilities included research, portfolio implementation, system development and performance attribution. Prior to this experience, Mr. Lakonishok was an analyst in the Quantitative Equity group at Weiss, Peck, and Greer, where he was responsible for developing portfolio analytics and assisting in the day-to-day management of the portfolios. Mr. Lakonishok received a B.S. in Applied Science with

Greg Sleight

Start Date

Tenure

Tenure Rank

Jul 01, 2014

7.92

7.9%

Greg Sleight is a Partner, Portfolio Manager and Quantitative Analyst of LSV. At LSV, Mr. Sleight is part of our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Mr. Sleight received a B.S. in Material Science & Engineering from the University of Illinois in 2000 and an M.B.A. in Econometrics, Economics & Analytic Finance from the University of Chicago in 2006.

John Schaeffer

Start Date

Tenure

Tenure Rank

Dec 01, 2014

7.5

7.5%

John D. Schaeffer is President and Chief Investment Officer at Hahn Capital Management. He joined HCM in 2003. Prior to joining HCM, Mr. Schaeffer was a Partner and Director of Equity Research at 3Bridge Capital, an investment management firm. Prior to 3Bridge Capital, Mr. Schaeffer held a senior analyst position at Hanson Investment Management, a wholly owned subsidiary of United Asset Management. Mr. Schaeffer has an MBA in Finance from the University of California - Berkeley and a BA in Political Science from Duke University.

Paul Zemsky

Start Date

Tenure

Tenure Rank

May 11, 2018

4.06

4.1%

Paul Zemsky is the chief investment officer and founder of the Multi-Asset Strategies and Solutions Team (MASS) at Voya Investment Management. He is responsible for the firm’s suite of value-added, customized and off-the-shelf products and solutions that are supported by the team’s asset allocation, manager research, quantitative research, portfolio implementation and multi-manager capabilities. Prior to joining the firm, he co-founded CaliberOne Private Funds Management, a macro hedge fund. Paul began his career at JPMorgan Investment Management, where he held a number of key positions, including head of investments for over $300 Billion of Fixed Income assets. Paul is a member of the firm’s Management Committee and a board member of Pomona Capital. He holds a dual degree in finance and electrical engineering from the Management and Technology Program at the University of Pennsylvania and holds the Chartered Financial Analyst® designation.

Michael Whitfield

Start Date

Tenure

Tenure Rank

Jul 01, 2018

3.92

3.9%

Michael Whitfield, CFA Director of Research and Co-Portfolio Manager (2005-present) Fund manager since 2018, Director of Research and Co-Portfolio Manager (2018-present). Prior to becoming Director of Research and Co-Portfolio Manager in 2018, Michael Whitfield had served as senior analyst since 2005. He is responsible for the generation of new investment candidates and maintains coverage of one-third of the portfolio holdings. He also leads the firm’s IT support functions. Mr. Whitfield formerly was employed as an Equity Analyst for six years with Wachovia Securities, specializing in the industrial technology and automation sector as well as the wireless equipment sector. He spent several years as a Patent Examiner with the U.S. Patent and Trademark Office. Mr. Whitfield received his CFA charter designation in 2001. Mr. Whitfield holds an MBA from Southern Methodist University and a BS in Electrical Engineering from Virginia Polytechnic Institute & State University.

Steven Wetter

Start Date

Tenure

Tenure Rank

Nov 15, 2019

2.54

2.5%

Steven Wetter is a portfolio manager for the portfolio engineering group at Voya Investment Management responsible for the index, research enhanced index and rules-based strategies. Prior to joining Voya IM, he served as Co-Head of International Indexing responsible for managing ETFs, index funds and quantitative portfolios at BNY Mellon, and formerly held similar positions at Northern Trust and Bankers Trust. Steve earned a BA from the University of California at Berkeley, and an MBA in finance (with distinction) from New York University Stern School of Business.

Kai Wong

Start Date

Tenure

Tenure Rank

Nov 15, 2019

2.54

2.5%

Kai Yee Wong is a portfolio manager for the portfolio engineering group at Voya Investment Management responsible for the index, research enhanced index and rules-based strategies. Prior to joining the firm in 2012, she worked as a senior equity portfolio manager at Northern Trust responsible for managing various global indices including developed, emerging, real estate, Topix and socially responsible benchmarks. Previously Kai Yee served as a portfolio manager with Deutsche Bank, an assistant treasurer at Bankers Trust and a trust officer at the Bank of Tokyo. She earned a BS from New York University Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.59 8.52 10.92

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