PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
96.4%
Australia
:
0.4%
6,504
Anglogold
Ashanti
PLC
$
622,247
0.4
Brazil
:
2.5%
108,899
Cia
Paranaense
de
Energia
-
Copel
312,370
0.2
4,800
Equatorial
Energia
SA
36,605
0.0
23,534
MBRF
Global
Foods
Co.
SA
74,970
0.1
51,692
Porto
Seguro
SA
495,652
0.4
39,072
(1)
Rede
D'Or
Sao
Luiz
SA
263,498
0.2
35,250
Telefonica
Brasil
SA
233,251
0.2
136,961
TIM
SA/Brazil
604,908
0.4
7,200
Totvs
SA
47,529
0.0
69,514
Ultrapar
Participacoes
SA
359,659
0.3
45,491
Vale
SA
-
Foreign
743,522
0.5
55,433
Vibra
Energia
SA
327,463
0.2
3,499,427
2.5
Chile
:
0.1%
2,047,679
Enel
Chile
SA
177,841
0.1
China
:
21.0%
47,000
AAC
Technologies
Holdings,
Inc.
273,154
0.2
11,000
Airtac
International
Group
488,480
0.3
142,800
Alibaba
Group
Holding
Ltd.
2,213,994
1.6
10,000
Aluminum
Corp.
of
China
Ltd.
-
Class
H
14,004
0.0
75,000
Bank
of
China
Ltd.
-
Class
H
49,856
0.0
162,200
Bank
of
Shanghai
Co.
Ltd.
-
Class
A
216,393
0.2
26,000
Baoshan
Iron
&
Steel
Co.
Ltd.
-
Class
A
23,185
0.0
85,000
Beijing
Enterprises
Holdings
Ltd.
334,278
0.2
44,400
(1)
BOC
Aviation
Ltd.
432,875
0.3
158,300
BOE
Technology
Group
Co.
Ltd.
-
Class
A
119,541
0.1
20,000
BYD
Electronic
International
Co.
Ltd.
74,450
0.1
464
Cambricon
Technologies
Corp.
Ltd.
-
Class
A
89,822
0.1
215,600
Changjiang
Securities
Co.
Ltd.
-
Class
A
259,022
0.2
566,000
China
CITIC
Bank
Corp.
Ltd.
-
Class
H
526,586
0.4
36,000
China
Construction
Bank
Corp.
-
Class
H
39,006
0.0
12,300
China
Gold
International
Resources
Corp.
Ltd.
236,944
0.2
35,500
China
Hongqiao
Group
Ltd.
127,290
0.1
65,600
(1)
China
International
Capital
Corp.
Ltd.
-
Class
H
164,277
0.1
158,000
China
Mengniu
Dairy
Co.
Ltd.
342,094
0.2
102,500
China
Merchants
Bank
Co.
Ltd.
-
Class
H
616,645
0.4
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
8,000
China
Merchants
Port
Holdings
Co.
Ltd.
$
15,717
0.0
224,000
China
Minsheng
Banking
Corp.
Ltd.
-
Class
H
96,002
0.1
110,000
China
National
Building
Material
Co.
Ltd.
-
Class
H
74,459
0.1
224,300
China
National
Chemical
Engineering
Co.
Ltd.
-
Class
A
255,658
0.2
86,000
China
Oilfield
Services
Ltd.
-
Class
H
86,777
0.1
41,200
China
Pacific
Insurance
Group
Co.
Ltd.
-
Class
H
165,384
0.1
169,000
China
Railway
Group
Ltd.
-
Class
H
75,601
0.1
276,700
China
Railway
Signal
&
Communication
Corp.
Ltd.
-
Class
A
196,243
0.1
25,000
China
Resources
Land
Ltd.
112,591
0.1
15,600
(1)
China
Resources
Mixc
Lifestyle
Services
Ltd.
82,786
0.1
233,400
China
State
Construction
Engineering
Corp.
Ltd.
-
Class
A
166,482
0.1
233,700
(1)
China
Tower
Corp.
Ltd.
-
Class
H
295,681
0.2
576,000
Chongqing
Rural
Commercial
Bank
Co.
Ltd.
-
Class
H
467,450
0.3
38,500
CITIC
Securities
Co.
Ltd.
-
Class
H
128,282
0.1
201,000
CMOC
Group
Ltd.
-
Class
H
469,120
0.3
5,200
Contemporary
Amperex
Technology
Co.
Ltd.
-
Class
H
491,371
0.3
515,000
CRRC
Corp.
Ltd.
-
Class
H
341,385
0.2
423,000
Far
East
Horizon
Ltd.
415,320
0.3
7,600
(1)
Ganfeng
Lithium
Group
Co.
Ltd.
-
Class
H
62,443
0.0
71,000
Geely
Automobile
Holdings
Ltd.
170,504
0.1
152,600
GF
Securities
Co.
Ltd.
-
Class
H
314,638
0.2
37,900
Goldwind
Science
&
Technology
Co.
Ltd.
-
Class
A
131,167
0.1
234,000
Great
Wall
Motor
Co.
Ltd.
-
Class
H
310,830
0.2
394,000
Guangdong
Investment
Ltd.
419,796
0.3
6,400
Guangzhou
Tinci
Materials
Technology
Co.
Ltd.
-
Class
A
49,197
0.0
6,713
H
World
Group
Ltd.,
ADR
301,347
0.2
9,000
Haitian
International
Holdings
Ltd.
22,730
0.0
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
36,000
(1)
Hansoh
Pharmaceutical
Group
Co.
Ltd.
$
144,169
0.1
19,000
Hengan
International
Group
Co.
Ltd.
59,052
0.0
167,400
(1)
Huatai
Securities
Co.
Ltd.
-
Class
H
339,039
0.2
23,100
Huayu
Automotive
Systems
Co.
Ltd.
-
Class
A
57,029
0.0
1,223,592
Industrial
&
Commercial
Bank
of
China
Ltd.
-
Class
H
1,036,206
0.7
60,900
Inner
Mongolia
Yili
Industrial
Group
Co.
Ltd.
-
Class
A
242,119
0.2
4,950
JD.com,
Inc.
-
Class
A
71,358
0.1
24,200
Jiangsu
Zhongtian
Technology
Co.
Ltd.
-
Class
A
150,503
0.1
23,218
Kanzhun
Ltd.,
ADR
315,068
0.2
378,000
Kunlun
Energy
Co.
Ltd.
345,351
0.2
38,900
LB
Group
Co.
Ltd.
-
Class
A
82,184
0.1
310,000
Lenovo
Group
Ltd.
950,014
0.7
280,000
(1)
Meitu,
Inc.
155,939
0.1
24,200
Midea
Group
Co.
Ltd.
-
Class
H
264,690
0.2
29,800
MINISO
Group
Holding
Ltd.
97,763
0.1
2,095
Montage
Technology
Co.
Ltd.
-
Class
A
78,527
0.1
86,500
NARI
Technology
Co.
Ltd.
-
Class
A
318,217
0.2
17,700
NetEase,
Inc.
433,977
0.3
63,200
New
Oriental
Education
&
Technology
Group,
Inc.
291,091
0.2
6,020
Ningbo
Deye
Technology
Co.
Ltd.
-
Class
A
102,937
0.1
616,000
People's
Insurance
Co.
Group
of
China
Ltd.
-
Class
H
407,119
0.3
256,000
PICC
Property
&
Casualty
Co.
Ltd.
-
Class
H
475,132
0.3
138,000
Ping
An
Bank
Co.
Ltd.
-
Class
A
222,908
0.2
132,500
Ping
An
Insurance
Group
Co.
of
China
Ltd.
-
Class
H
1,014,836
0.7
1,168
Piotech,
Inc.
-
Class
A
108,633
0.1
147,100
SAIC
Motor
Corp.
Ltd.
-
Class
A
267,783
0.2
3,800
Sangfor
Technologies,
Inc.
-
Class
A
60,348
0.0
93,500
Sany
Heavy
Industry
Co.
Ltd.
-
Class
A
248,248
0.2
4,800
Seres
Group
Co.
Ltd.
-
Class
A
57,758
0.0
76,800
Shandong
Weigao
Group
Medical
Polymer
Co.
Ltd.
-
Class
H
32,934
0.0
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
17,329
Shanghai
Allist
Pharmaceuticals
Co.
Ltd.
-
Class
A
$
229,738
0.2
12,484
Shanghai
BOCHU
Electronic
Technology
Corp.
Ltd.
-
Class
A
300,761
0.2
58,000
Shanghai
International
Airport
Co.
Ltd.
-
Class
A
214,839
0.2
26,800
Shanghai
Putailai
New
Energy
Technology
Co.
Ltd.
-
Class
A
121,439
0.1
50,000
Sino
Biopharmaceutical
Ltd.
31,865
0.0
152,000
Sinopharm
Group
Co.
Ltd.
-
Class
H
327,896
0.2
42,000
Sinotruk
Hong
Kong
Ltd.
199,681
0.1
2,000
Sungrow
Power
Supply
Co.
Ltd.
-
Class
A
52,616
0.0
176,700
TCL
Technology
Group
Corp.
-
Class
A
111,815
0.1
53,300
Tencent
Holdings
Ltd.
2,895,875
2.0
15,042
Tencent
Music
Entertainment
Group,
ADR
138,687
0.1
140,400
Tongcheng
Travel
Holdings
Ltd.
253,640
0.2
2,700
(2)
Trip.com
Group
Ltd.
127,210
0.1
22,981
Vipshop
Holdings
Ltd.,
ADR
326,790
0.2
26,000
Weichai
Power
Co.
Ltd.
-
Class
H
138,119
0.1
20,900
(1)
WuXi
AppTec
Co.
Ltd.
-
Class
H
348,002
0.2
125,200
XCMG
Construction
Machinery
Co.
Ltd.
-
Class
A
180,355
0.1
78,000
Xinyi
Solar
Holdings
Ltd.
26,604
0.0
184,000
(1)
Yadea
Group
Holdings
Ltd.
264,605
0.2
61,800
Yealink
Network
Technology
Corp.
Ltd.
-
Class
A
329,927
0.2
67,100
Yintai
Gold
Co.
Ltd.
-
Class
A
224,230
0.2
13,800
Yutong
Bus
Co.
Ltd.
-
Class
A
65,855
0.1
36,000
Zhaojin
Mining
Industry
Co.
Ltd.
-
Class
H
99,674
0.1
58,700
Zhejiang
Chint
Electrics
Co.
Ltd.
-
Class
A
252,808
0.2
118,000
Zhejiang
Dahua
Technology
Co.
Ltd.
-
Class
A
291,234
0.2
163,200
Zhejiang
Longsheng
Group
Co.
Ltd.
-
Class
A
270,387
0.2
63,200
Zhuzhou
CRRC
Times
Electric
Co.
Ltd.
-
Class
H
327,107
0.2
158,000
Zijin
Mining
Group
Co.
Ltd.
-
Class
H
662,371
0.5
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
94,600
Zoomlion
Heavy
Industry
Science
and
Technology
Co.
Ltd.
-
Class
A
$
100,811
0.1
30,000
(2)
ZTE
Corp.
-
Class
H
102,296
0.1
3,100
ZTO
Express
Cayman,
Inc.
68,269
0.1
29,877,295
21.0
Greece
:
1.1%
54,366
Alpha
Bank
SA
248,521
0.2
71,820
Eurobank
SA
334,513
0.2
22,387
National
Bank
of
Greece
SA
387,285
0.3
60,828
Piraeus
Bank
SA
645,381
0.4
1,615,700
1.1
Hungary
:
0.5%
16,470
Richter
Gedeon
Nyrt
696,939
0.5
India
:
10.8%
2,096
ABB
India
Ltd.
160,133
0.1
25,685
Axis
Bank
Ltd.
347,883
0.2
79,684
Bharat
Electronics
Ltd.
344,279
0.2
89,505
Bharat
Heavy
Electricals
Ltd.
392,658
0.3
118,884
Bharat
Petroleum
Corp.
Ltd.
372,753
0.3
14,835
Bharti
Airtel
Ltd.
285,429
0.2
5,856
BSE
Ltd.
255,451
0.2
13,764
CG
Power
&
Industrial
Solutions
Ltd.
133,018
0.1
14,394
Coromandel
International
Ltd.
265,617
0.2
7,714
Cummins
India
Ltd.
477,408
0.3
204,244
GAIL
India
Ltd.
353,538
0.2
4,118
GE
Vernova
T&D
India
Ltd.
223,178
0.1
22,962
Godrej
Consumer
Products
Ltd.
248,660
0.2
11,559
Havells
India
Ltd.
143,207
0.1
35,140
HCL
Technologies
Ltd.
439,021
0.3
15,024
(1)
HDFC
Asset
Management
Co.
Ltd.
422,801
0.3
93,971
HDFC
Bank
Ltd.
736,638
0.5
9,049
Hindustan
Aeronautics
Ltd.
409,811
0.3
614
Hitachi
Energy
India
Ltd.
248,355
0.2
74,024
ICICI
Bank
Ltd.
978,541
0.7
218,075
Indian
Oil
Corp.
Ltd.
321,773
0.2
12,447
Info
Edge
India
Ltd.
130,294
0.1
59,461
Infosys
Ltd.
728,035
0.5
4,904
Larsen
&
Toubro
Ltd.
210,552
0.1
5,939
(1)
LTIMindtree
Ltd.
254,574
0.2
23,826
(3)
Malco
Energy
Ltd.
164
0.0
13,204
Mphasis
Ltd.
316,198
0.2
14,856
NHPC
Ltd.
12,331
0.0
134,035
Oil
&
Natural
Gas
Corp.
Ltd.
374,531
0.3
3,567
Oracle
Financial
Services
Software
Ltd.
-
Class
1
374,720
0.3
4,440
Persistent
Systems
Ltd.
243,088
0.2
17,284
Pidilite
Industries
Ltd.
270,007
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
India
(continued)
2,478
Polycab
India
Ltd.
$
247,176
0.2
93,072
Power
Finance
Corp.
Ltd.
419,661
0.3
126,434
Power
Grid
Corp.
of
India
Ltd.
386,612
0.3
41,465
Reliance
Industries
Ltd.
576,446
0.4
2,385
Solar
Industries
India
Ltd.
458,038
0.3
14,843
Sun
Pharmaceutical
Industries
Ltd.
280,917
0.2
23,826
(3)
Talwandi
Sabo
Power
Ltd.
5,661
0.0
21,500
Tata
Consultancy
Services
Ltd.
511,463
0.4
79,909
Tata
Motors
Ltd.
331,112
0.2
40,142
Tata
Steel
Ltd.
87,970
0.1
32,260
Tech
Mahindra
Ltd.
504,687
0.3
43,363
UPL
Ltd.
294,221
0.2
23,826
(3)
Vedanta
Aluminium
Metal
Ltd.
95,620
0.1
99,667
(3)
Vedanta
Ltd.
285,264
0.2
206,894
Wipro
Ltd.
446,760
0.3
15,406,254
10.8
Indonesia
:
0.5%
1,427,200
Bank
Central
Asia
Tbk
PT
456,053
0.3
895,900
Bank
Negara
Indonesia
Persero
Tbk
PT
185,403
0.2
470,200
Sumber
Alfaria
Trijaya
Tbk
PT
30,259
0.0
671,715
0.5
Kuwait
:
0.4%
306,394
Mobile
Telecommunications
Co.
KSCP
591,999
0.4
Malaysia
:
1.4%
334,500
AMMB
Holdings
Bhd
546,421
0.4
171,900
CIMB
Group
Holdings
Bhd
324,146
0.2
132,500
Malayan
Banking
Bhd
355,582
0.3
24,700
MISC
Bhd
50,738
0.0
27,700
(1)
MR
DIY
Group
M
Bhd
11,033
0.0
33,100
Petronas
Dagangan
Bhd
148,094
0.1
247,800
RHB
Bank
Bhd
513,127
0.4
1,949,141
1.4
Mexico
:
1.2%
65,177
Alfa
SAB
de
CV
-
Class
A
62,256
0.0
340,897
Fibra
Uno
Administracion
SA
de
CV
588,906
0.4
43,620
Fomento
Economico
Mexicano
SAB
de
CV
519,857
0.4
26,300
Grupo
Bimbo
SAB
de
CV
90,549
0.1
37,219
Grupo
Financiero
Banorte
SAB
de
CV
-
Class
O
387,776
0.3
1,649,344
1.2
Peru
:
0.4%
1,861
Credicorp
Ltd.
637,634
0.4
Philippines
:
0.6%
1,970
Ayala
Corp.
13,963
0.0
813,000
Ayala
Land,
Inc.
192,304
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Philippines
(continued)
33,020
Bank
of
the
Philippine
Islands
$
50,277
0.0
49,420
BDO
Unibank,
Inc.
91,444
0.1
255,620
Metropolitan
Bank
&
Trust
Co.
263,515
0.2
9,215
PLDT,
Inc.
171,906
0.1
8,130
SM
Investments
Corp.
75,760
0.1
859,169
0.6
Poland
:
0.7%
16,296
Polski
Koncern
Naftowy
ORLEN
SA
636,967
0.5
19,669
Powszechny
Zaklad
Ubezpieczen
SA
349,290
0.2
986,257
0.7
Qatar
:
1.0%
762,153
Mesaieed
Petrochemical
Holding
Co.
256,379
0.2
113,001
Ooredoo
QPSC
415,879
0.3
30,036
Qatar
Electricity
&
Water
Co.
QSC
120,063
0.1
115,879
Qatar
National
Bank
QPSC
566,505
0.4
1,358,826
1.0
Romania
:
0.0%
6,869
NEPI
Rockcastle
NV
60,061
0.0
Russia
:
—%
354,185
(2)(3)
Alrosa
PJSC
—
—
10,144,776
(2)(3)
Inter
RAO
UES
PJSC
—
—
15,442
(2)(3)
Lukoil
PJSC
—
—
9,459
(2)(3)
Magnit
PJSC
—
—
116,758
(2)(3)
Mobile
TeleSystems
PJSC
—
—
4,585
(2)(3)
Severstal
PAO
—
—
130,134
(2)(3)
Surgutneftegas
PJSC
—
—
125,422
(2)(3)
Tatneft
PJSC
—
—
—
—
Saudi
Arabia
:
1.9%
13,450
Ades
Holding
Co.
70,537
0.0
77,826
Arab
National
Bank
439,671
0.3
9,487
Banque
Saudi
Fransi
48,363
0.0
15,366
Etihad
Etisalat
Co.
260,427
0.2
2,387
Mouwasat
Medical
Services
Co.
42,371
0.0
69,195
Riyad
Bank
372,020
0.3
24,127
Saudi
Awwal
Bank
217,684
0.2
12,590
Saudi
Basic
Industries
Corp.
189,291
0.1
22,333
Saudi
Investment
Bank
79,748
0.1
98,882
Saudi
National
Bank
1,052,022
0.7
2,772,134
1.9
South
Africa
:
2.3%
50,085
Absa
Group
Ltd.
730,037
0.5
2,390
Bid
Corp.
Ltd.
59,976
0.0
17,897
Gold
Fields
Ltd.
705,811
0.5
24,713
Harmony
Gold
Mining
Co.
Ltd.
452,089
0.3
8,604
Naspers
Ltd.
-
Class
N
451,946
0.3
75,422
OUTsurance
Group
Ltd.
329,550
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
South
Africa
(continued)
29,886
Shoprite
Holdings
Ltd.
$
525,949
0.4
27,832
Sibanye
Stillwater
Ltd.
83,228
0.1
3,338,586
2.3
South
Korea
:
22.2%
4,036
Amorepacific
Corp.
307,920
0.2
548
APR
Corp./Korea
143,818
0.1
3,257
DB
Insurance
Co.
Ltd.
309,275
0.2
2,595
Hana
Financial
Group,
Inc.
198,572
0.1
95
Hanwha
Aerospace
Co.
Ltd.
74,074
0.0
2,744
HD
Hyundai
Co.
Ltd.
505,479
0.4
601
HD
Hyundai
Electric
Co.
Ltd.
420,901
0.3
759
HD
Hyundai
Heavy
Industries
Co.
Ltd.
350,728
0.2
684
HD
Hyundai
Marine
Solution
Co.
Ltd.
101,696
0.1
1,801
HD
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
505,737
0.4
961
Hyundai
Mobis
Co.
Ltd.
489,378
0.3
368
Hyundai
Motor
Co.
176,069
0.1
588
Hyundai
Rotem
Co.
Ltd.
78,231
0.1
8,266
KB
Financial
Group,
Inc.
828,143
0.6
5,533
Kia
Corp.
620,693
0.4
6,869
Korea
Electric
Power
Corp.
178,439
0.1
1,527
LG
Chem
Ltd.
372,014
0.3
4,117
LG
Corp.
400,793
0.3
928
LG
Electronics,
Inc.
180,936
0.1
39,406
LG
Uplus
Corp.
422,002
0.3
1,177
LS
Electric
Co.
Ltd.
189,688
0.1
425
POSCO
Holdings,
Inc.
119,713
0.1
4,350
Posco
International
Corp.
184,161
0.1
1,964
Samsung
C&T
Corp.
566,386
0.4
273
Samsung
Electro-
Mechanics
Co.
Ltd.
385,909
0.3
57,073
Samsung
Electronics
Co.
Ltd.
11,973,553
8.4
240
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
90,571
0.1
1,585
Samsung
SDS
Co.
Ltd.
315,397
0.2
11,885
Shinhan
Financial
Group
Co.
Ltd.
739,274
0.5
6,393
SK
Hynix,
Inc.
9,953,952
7.0
532
SK
Square
Co.
Ltd.
441,144
0.3
210
SK,
Inc.
94,532
0.1
31,719,178
22.2
Taiwan
:
24.6%
8,000
Accton
Technology
Corp.
612,115
0.4
8,000
Advantech
Co.
Ltd.
125,753
0.1
4,000
Alchip
Technologies
Ltd.
554,546
0.4
20,000
ASE
Technology
Holding
Co.
Ltd.
382,107
0.3
4,000
Asia
Vital
Components
Co.
Ltd.
337,306
0.2
1,000
ASPEED
Technology,
Inc.
595,142
0.4
4,000
Asustek
Computer,
Inc.
96,498
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Taiwan
(continued)
61,000
Catcher
Technology
Co.
Ltd.
$
396,215
0.3
7,000
Chroma
ATE,
Inc.
557,003
0.4
410,000
Compal
Electronics,
Inc.
476,951
0.3
31,000
Delta
Electronics,
Inc.
2,378,515
1.7
3,000
eMemory
Technology,
Inc.
323,854
0.2
586,000
Far
Eastern
New
Century
Corp.
480,236
0.3
21,000
Formosa
Chemicals
&
Fibre
Corp.
33,504
0.0
7,200
Fortune
Electric
Co.
Ltd.
199,617
0.2
188,000
Hon
Hai
Precision
Industry
Co.
Ltd.
1,720,914
1.2
1,000
Hon
Precision,
Inc.
262,063
0.2
13,000
International
Games
System
Co.
Ltd.
312,563
0.2
14,000
Inventec
Corp.
31,055
0.0
2,000
Jentech
Precision
Industrial
Co.
Ltd.
224,373
0.2
2,000
King
Slide
Works
Co.
Ltd.
319,645
0.2
3,000
Largan
Precision
Co.
Ltd.
336,438
0.2
40,000
Lite-On
Technology
Corp.
295,460
0.2
11,000
MediaTek,
Inc.
1,495,468
1.1
17,975
PharmaEssentia
Corp.
535,285
0.4
1,000
President
Chain
Store
Corp.
6,832
0.0
277,962
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
20,592,908
14.5
261,000
United
Microelectronics
Corp.
1,175,009
0.8
1,000
Wiwynn
Corp.
170,929
0.1
35,028,304
24.6
Thailand
:
1.4%
13,400
Advanced
Info
Service
PCL
145,142
0.1
121,400
Charoen
Pokphand
Foods
PCL
70,737
0.1
57,700
Delta
Electronics
Thailand
PCL
622,252
0.4
8,700
Kasikornbank
PCL
53,732
0.0
25,400
Kasikornbank
PCL
-
Foreign
156,872
0.1
483,700
Minor
International
PCL
333,940
0.2
325,900
PTT
PCL
-
Foreign
363,001
0.3
53,000
SCB
X
PCL
-
Foreign
218,924
0.2
1,964,600
1.4
Turkey
:
0.1%
73,381
Turkcell
Iletisim
Hizmetleri
AS
159,631
0.1
United
Arab
Emirates
:
1.3%
185,331
Aldar
Properties
PJSC
395,914
0.3
586,559
Dubai
Electricity
&
Water
Authority
PJSC
417,451
0.3
97,282
Emaar
Development
PJSC
385,562
0.3
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
Arab
Emirates
(continued)
181,417
Emaar
Properties
PJSC
$
587,129
0.4
1,786,056
1.3
Total
Common
Stock
(Cost
$85,818,499)
137,428,338
96.4
EXCHANGE-TRADED
FUNDS
:
0.5%
11,150
iShares
MSCI
Emerging
Markets
ETF
764,890
0.5
Total
Exchange-Traded
Funds
(Cost
$446,459)
764,890
0.5
PREFERRED
STOCK
:
1.7%
Brazil
:
1.7%
43,521
Axia
Energia
495,381
0.4
49,133
Banco
Bradesco
SA
-
Preference
Shares
173,661
0.1
31,312
Gerdau
SA
141,398
0.1
108,919
Itau
Unibanco
Holding
SA
864,520
0.6
271,074
Itausa
SA
698,031
0.5
2,372,991
1.7
Total
Preferred
Stock
(Cost
$1,740,513)
2,372,991
1.7
Total
Long-Term
Investments
(Cost
$88,005,471)
140,566,219
98.6
Total
Investments
in
Securities
(Cost
$88,005,471)
$
140,566,219
98.6
Assets
in
Excess
of
Other
Liabilities
2,013,307
1.4
Net
Assets
$
142,579,526
100.0
ADR
American
Depositary
Receipt
(1)
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.
(2)
Non-income
producing
security.
(3)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Sector
Diversification
Percentage
of
Net
Assets
Information
Technology
44.7
%
Financials
17.2
Industrials
8.7
Consumer
Discretionary
6.0
Materials
5.6
Communication
Services
5.4
Utilities
2.6
Energy
2.3
Health
Care
2.0
Consumer
Staples
1.9
Real
Estate
1.7
Exchange-Traded
Funds
0.5
Assets
in
Excess
of
Other
Liabilities
1.4
Net
Assets
100.0%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
May
31,
2026
in
valuing
the
assets
and
liabilities:
Quoted
Prices
in
Active
Markets
for
Identical
Investments
(Level
1)
Significant
Other
Observable
Inputs
#
(Level
2)
Significant
Unobservable
Inputs
(Level
3)
Fair
Value
at
May
31,
2026
Asset
Table
Investments,
at
fair
value
Common
Stock
Australia
$
—
$
622,247
$
—
$
622,247
Brazil
3,499,427
—
—
3,499,427
Chile
177,841
—
—
177,841
China
3,865,364
26,011,931
—
29,877,295
Greece
—
1,615,700
—
1,615,700
Hungary
696,939
—
—
696,939
India
223,178
14,796,367
386,709
15,406,254
Indonesia
30,259
641,456
—
671,715
Kuwait
591,999
—
—
591,999
Malaysia
148,094
1,801,047
—
1,949,141
Mexico
1,649,344
—
—
1,649,344
Peru
637,634
—
—
637,634
Philippines
353,238
505,931
—
859,169
Poland
636,967
349,290
—
986,257
Qatar
982,384
376,442
—
1,358,826
Romania
60,061
—
—
60,061
Russia
—
—
—
—
Saudi
Arabia
898,746
1,873,388
—
2,772,134
South
Africa
915,475
2,423,111
—
3,338,586
South
Korea
715,485
31,003,693
—
31,719,178
Taiwan
6,832
35,021,472
—
35,028,304
Thailand
573,605
1,390,995
—
1,964,600
Turkey
—
159,631
—
159,631
United
Arab
Emirates
—
1,786,056
—
1,786,056
Total
Common
Stock
16,662,872
120,378,757
386,709
137,428,338
Exchange-Traded
Funds
764,890
—
—
764,890
Preferred
Stock
2,372,991
—
—
2,372,991
Total
Investments,
at
fair
value
$
19,800,753
$
120,378,757
$
386,709
$
140,566,219
Liabilities
Table
Other
Financial
Instruments+
Written
Options
$
—
$
(1,015,087)
$
—
$
(1,015,087)
Total
Liabilities
$
—
$
(1,015,087)
$
—
$
(1,015,087)
#
The
earlier
close
of
the
foreign
markets
gives
rise
to
the
possibility
that
significant
events,
including
broad
market
moves,
may
have
occurred
in
the
interim
and
may
materially
affect
the
value
of
those
securities.
To
account
for
this,
the
Fund
may
frequently
value
many
of
its
foreign
equity
securities
using
fair
value
prices
based
on
third
party
vendor
modeling
tools
to
the
extent
available.
Accordingly,
a
portion
of
the
Fund’s
investments
are
categorized
as
Level
2
investments.
+
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.
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2026
(Unaudited)
(continued)
Voya
Emerging
Markets
High
Dividend
Equity
Fund
At
May
31,
2026,
the
following
OTC
written
equity
options
were
outstanding
for
Voya
Emerging
Markets
High
Dividend
Equity
Fund:
Description
Counterparty
Put/
Call
Expiration
Date
Exercise
Price
Number
of
Contracts
Notional
Amount
Premiums
Received
Fair
Value
iShares
MSCI
Emerging
Markets
ETF
Citibank
N.A.
Call
06/18/26
USD
66.210
215,153
USD
14,759,496
$
347,192
$
(754,646)
iShares
MSCI
Emerging
Markets
ETF
JPMorgan
Chase
Bank
N.A.
Call
07/02/26
USD
71.340
103,499
USD
7,100,031
127,086
(143,110)
iShares
MSCI
Emerging
Markets
ETF
UBS
AG
Call
07/02/26
USD
72.200
103,498
USD
7,099,963
100,114
(117,331)
$
574,392
$
(1,015,087)
Currency
Abbreviations:
USD
—
United
States
Dollar
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
61,703,027
Gross
Unrealized
Depreciation
(9,142,279)
Net
Unrealized
Appreciation
$
52,560,748