Performance Summary

Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

For more information on the fund including information on risks and expenses, click on the fund name

Disclosure below is related to the following Variable Portfolios: 

• VY® JPMorgan Small Cap Core Equity Portfolio
• VY® Morgan Stanley Global Franchise Portfolio
• VY® T. Rowe Price Diversified Mid Cap Growth Portfolio

On March 23, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued an order providing registered funds with temporary flexibility with respect to borrowing. In connection with this order, on March 30, 2020, the Portfolio’s Board of Trustees (the “Board”) approved a policy permitting each Portfolio to deviate from its non‐fundamental policy with respect to borrowing (as set forth in the Portfolio’s Statement of Additional Information under the section titled “Fundamental and Non‐ Fundamental Investment Restrictions”) for the period from March 30, 2020 until June 30, 2020 (unless extended by the Board upon any extension of the order by the SEC).

During this time, the Portfolio may borrow money in an amount of up to 33 1/3% of the Portfolio’s total assets to meet short‐term needs, such as in connection with redemptions. The Portfolio incurs interest and other expenses when it borrows money. Borrowing creates leverage, which may increase expenses and increase the impact of the Portfolio’s other risks. The use of leverage may exaggerate any increase or decrease in the Portfolio’s net asset value causing the Portfolio to be more volatile than a fund that does not borrow.

Disclosure below is related to the following Variable Portfolios: 

• Voya International Index Portfolio
• Voya Russell Large Cap Growth Index Portfolio
• Voya Russell Large Cap Index Portfolio
• Voya Russell Large Cap Value Index Portfolio
• Voya Russell Mid Cap Growth Index Portfolio
• Voya Russell Mid Cap Index Portfolio
• Voya Russell Small Cap Index Portfolio
• Voya U.S. Bond Index Portfolio

Depending on the composition of the Index, the Portfolio may at any time, with respect to 75% of the Portfolio’s total assets, invest more than 5% of the value of its total assets in the securities of any one issuer. As a result, the Portfolio would at that time be “non-diversified,” as defined in the 1940 Act. A “non-diversified” mutual fund may invest a greater percentage of its assets in the securities of a single issuer than may a “diversified” mutual fund. A “non-diversified” investment company is subject to the risks of focusing investments in a small number of issuers, industries or foreign currencies, including being more susceptible to risks associated with a single economic, political or regulatory occurrence than a more diversified portfolio might be. The Portfolio may significantly underperform other mutual funds or investments due to the poor performance of relatively few stocks, or even a single stock, and the Portfolio’s shares may experience significant fluctuations in value.