Form 497K Voya PARTNERS INC
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E-mailSummary Prospectus May 1, 2025, as supplemented March 6, 2026
VY® Invesco Equity and Income Portfolio
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Class/Ticker: ADV/IUAAX; I/IUAIX; S/IUASX; S2/IVIPX
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Before you invest, you may want to review the portfolio's Prospectus, which contains
more information about the portfolio and its risks. For free paper or electronic copies of the Prospectus and other portfolio information (including
the Statement of Additional Information and most recent financial report to shareholders), go to https://individuals.voya.com/literature; email a request to [email protected]; call 1-800-262-3862; or ask your salesperson, financial intermediary, or retirement plan administrator. The portfolio's
Prospectus and Statement of Additional Information, each dated May 1, 2025, as supplemented, and the audited financial statements that are included in the portfolio’s shareholder report dated December 31, 2024 are incorporated into this Summary Prospectus by reference and may be obtained
free of charge at the website, phone number, or e-mail address noted above.
Investment Objective
The Portfolio seeks total return consisting of long-term capital appreciation and
current income.
Fees and Expenses of the Portfolio
The table describes the fees and expenses that you may pay if you buy, hold, and sell
shares of the Portfolio. You may pay other fees and expenses such as fees and expenses imposed under your variable annuity
contracts or variable life insurance policies (“Variable Contract”) or a qualified pension or retirement plan (“Qualified Plan”), which are not reflected in the tables and examples below. If these fees or expenses were included in the table, the Portfolio’s expenses would be higher. For more information on these charges, please refer to the documents governing your Variable
Contract or Qualified Plan or consult your plan administrator.
Annual Portfolio Operating Expenses
Expenses you pay each year as a % of the value of your investment
Expenses you pay each year as a % of the value of your investment
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Class
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ADV
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I
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S
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S2
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Management Fees
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%
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0.65
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0.65
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0.65
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0.65
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Distribution and/or Shareholder Services (12b-1) Fees
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%
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0.50
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None
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0.25
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0.40
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Other Expenses
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%
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0.09
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0.09
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0.09
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0.09
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Total Annual Portfolio Operating Expenses
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%
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1.24
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0.74
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0.99
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1.14
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Waivers and Reimbursements1
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%
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(0.10)
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(0.10)
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(0.10)
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(0.12)
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Total Annual Portfolio Operating Expenses after Wavers and
Reimbursements
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%
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1.14
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0.64
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0.89
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1.02
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1
Voya Investments, LLC (the “Investment Adviser”) is contractually obligated to limit expenses to 1.15%, 0.65%, 0.90%, and 1.05% for
Class ADV, Class I, Class S, and Class S2 shares, respectively, through May 1, 2026. The limitation does not extend to interest, taxes, investment-related costs, leverage
expenses, extraordinary expenses, and Acquired Fund Fees and Expenses. This limitation
is subject to possible recoupment by the Investment Adviser within 36 months of the waiver or reimbursement. The amount of the recoupment is limited
to the lesser of the amounts that would be recoupable under: (i) the expense limitation in effect at the time of the waiver or reimbursement;
or (ii) the expense limitation in effect at the time of recoupment. The Investment Adviser is also contractually obligated to waive 0.01% of the management
fee through May 1, 2026. In addition, the distributor is contractually obligated to waive 0.02% of the distribution fee for Class S2 shares
through May 1, 2026. Termination or modification of these obligations requires approval by the Portfolio’s Board of Directors (the “Board”).
Expense Example
This Example is intended to help you compare the cost of investing in shares of the
Portfolio with the costs of investing in other mutual funds. The Example does not reflect expenses and charges which are, or
may be, imposed under your Variable Contract or Qualified Plan. The Example assumes that you invest $10,000 in the Portfolio
for the time periods indicated. The Example also assumes that your investment had a 5% return each year and that the Portfolio's
operating expenses remain the same. The Example reflects applicable expense limitation agreements and/or waivers in effect,
if any, for the one-year period and the first year of the three-, five-, and ten-year periods. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 of 8
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Class
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|
1 Yr
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3 Yrs
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5 Yrs
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10 Yrs
|
|
ADV
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$
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116
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384
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671
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1,491
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|
I
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$
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65
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226
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402
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909
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S
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$
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91
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305
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537
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1,204
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S2
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$
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104
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350
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616
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1,375
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Portfolio Turnover
The Portfolio pays transaction costs, such as commissions, when it buys and sells
securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs,
which are not reflected in Annual Portfolio Operating Expenses or in the Expense Example, affect the Portfolio's performance.
During the most recent fiscal year, the Portfolio's portfolio turnover rate was 125% of the average value of its portfolio.
Principal Investment Strategies
Under normal market conditions, the Portfolio invests at least 80% of its net assets
(plus borrowings for investment purposes) in equity and income securities at the time of investment.
The Portfolio seeks to achieve its investment objective by investing primarily in
income-producing equity instruments (including common stocks, preferred stocks, and convertible securities) and investment-grade
quality debt instruments. Investment-grade debt instruments are securities rated BBB or higher by S&P Global Ratings or Baa or
higher by Moody's Ratings or unrated securities determined by the sub-adviser (the “Sub-Adviser”) to be of comparable quality. The composition of the Portfolio's investments will vary over time based upon evaluations of economic conditions by the
Sub-Adviser and its belief about which securities would best accomplish the Portfolio's investment objective.
The Sub-Adviser generally seeks to identify companies that are undervalued and have
identifiable factors that might lead to improved valuations. The Sub-Adviser looks for catalysts for change that may positively
impact a company. These catalysts could come from within the company in the form of new management, operational enhancements,
restructuring, or reorganization. A catalyst could also be an external factor, such as an improvement in industry conditions
or a regulatory change. The aim is to uncover these catalysts for change, and then benefit from potential stock price
appreciation of the change taking place at the company.
The Portfolio may invest in securities that do not pay dividends or interest and securities
that have above-average volatility of price movement, including warrants or rights to acquire securities. Because prices
of equity securities and debt instruments fluctuate, the value of an investment in the Portfolio will vary based on the Portfolio’s investment performance. In an effort to reduce the Portfolio's overall exposure to any individual security price decline,
the Portfolio spreads its investments over many different companies in a variety of industries. The Portfolio may invest in securities
of issuers of all capitalization sizes; however, under normal market conditions, it is currently expected that the Portfolio
will invest a substantial percentage of its assets in large-capitalization issuers. The Sub-Adviser considers a large-capitalization
issuer to be one that has a market capitalization, at the time of purchase, within the range of market capitalizations
of the issuers included in the Russell 1000® Index during the most recent 11-month period (based on month-end data) plus the most
recent data during the current month. A company’s “market capitalization” is the value of its outstanding stock.
Under normal market conditions, the Portfolio invests a majority of its net assets
in income-producing equity securities and up to 10% of its assets in illiquid securities and certain restricted securities.
The Portfolio also invests in U.S. government obligations, including U.S. Treasury bills and notes, and obligations issued or guaranteed
by the U.S. government or its agencies or instrumentalities. The Portfolio may invest up to 25% of its assets in securities
of foreign (non-U.S.) issuers, which may include depositary receipts. The Portfolio may invest in real estate-related securities,
including real estate investment trusts (“REITs”). The Portfolio may purchase and sell certain derivative instruments, such as options,
futures and options on futures, forward foreign currency exchange contracts, structured notes and other types of structured
investments, and swaps for various portfolio management purposes, including to earn income, facilitate portfolio
management, and mitigate risks.
The Portfolio 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 and regulations
thereunder, and under the terms of applicable no-action relief or exemptive orders granted thereunder.
The Portfolio may dispose of a security when, in the opinion of the Sub-Adviser, the security reaches the Sub-Adviser’s estimate of fair value or when the Sub-Adviser identifies a more attractive investment opportunity.
The Portfolio may lend portfolio securities on a short-term or long-term basis, up
to 33 1∕3% of its total assets.
Summary Prospectus
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VY® Invesco Equity and Income Portfolio
Principal Risks
You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.
The principal risks are presented in alphabetical order to facilitate readability, and their order does not imply that
the realization of one risk is more likely to occur or have a greater adverse impact than another risk.
Company: The price of a company’s stock could decline or underperform for many reasons, including, among others, poor management, financial problems, reduced demand for the company’s goods or services, regulatory fines and judgments, or business challenges. If a company is unable to meet its financial obligations, declares
bankruptcy, or becomes insolvent, its stock could become worthless.
Convertible Securities: Convertible securities are securities that are convertible into or exercisable for
common stocks at a stated price or rate. Convertible securities are subject to the usual risks associated
with debt instruments, such as interest rate risk and credit risk. In addition, because convertible securities react to changes
in the value of the underlying stock, they are subject to market risk.
Credit: The Portfolio could lose money if the issuer or guarantor of a debt instrument in
which the Portfolio invests, or the counterparty to a derivative contract the Portfolio entered into, is unable or unwilling,
or is perceived (whether by market participants, rating agencies, pricing services, or otherwise) as unable or unwilling,
to meet its financial obligations.
Currency: To the extent that the Portfolio invests directly or indirectly in foreign (non-U.S.)
currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that
those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the
U.S. dollar will decline in value relative to the currency being hedged by the Portfolio through foreign currency exchange transactions.
Derivative Instruments: Derivative instruments are subject to a number of risks, including the risk of changes
in the market price of the underlying asset, reference rate, or index credit risk with respect to
the counterparty, risk of loss due to changes in market interest rates, liquidity risk, valuation risk, and volatility risk. The
amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by the Portfolio. Therefore,
the purchase of certain derivatives may have an economic leveraging effect on the Portfolio and exaggerate any increase
or decrease in the net asset value. Derivatives may not perform as expected, so the Portfolio may not realize the intended
benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the
asset, reference rate, or index being hedged. When used as an alternative or substitute for direct cash investment, the
return provided by the derivative may not provide the same return as direct cash investment.
Dividend: Companies that issue dividend yielding equity securities are not required to continue
to pay dividends on such securities. Therefore, there is a possibility that such companies could reduce or eliminate the
payment of dividends in the future. As a result, the Portfolio’s ability to execute its investment strategy may be limited.
Foreign (Non-U.S.) Investments: Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing
more rapid and extreme changes in value than a fund that invests exclusively in securities of
U.S. companies due, in part, to: smaller markets; differing reporting, accounting, auditing and financial reporting standards
and practices; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement;
potential for default on sovereign debt; and political changes or diplomatic developments, which may include the imposition
of economic sanctions (or the threat of new or modified sanctions) or other measures by the U.S. or other governments
and supranational organizations. Markets and economies throughout the world are becoming increasingly interconnected,
and conditions or events in one market, country or region may adversely impact investments or issuers in another market,
country or region.
Interest Rate: A rise in market interest rates generally results in a fall in the value of bonds
and other debt instruments; conversely, values generally rise as market interest rates fall. Interest rate risk
is generally greater for debt instruments than floating-rate instruments. The higher the credit quality of the instrument, and the
longer its maturity or duration, the more sensitive it is to changes in market interest rates. Duration is a measure of sensitivity
of the price of a debt instrument to a change in interest rate. The U.S. Federal Reserve Board recently lowered interest
rates following a period of consistent rate increases. Declining market interest rates increase the likelihood that debt instruments
will be pre-paid. Rising market interest rates have unpredictable effects on the markets and may expose debt and related markets
to heightened volatility. To the extent that the Portfolio invests in debt instruments, an increase in market interest
rates may lead to increased redemptions and increased portfolio turnover, which could reduce liquidity for certain investments,
adversely affect values, and increase costs. Increased redemptions may cause the Portfolio to liquidate portfolio positions
when it may not be advantageous to do so and may lower returns. If dealer capacity in debt markets is insufficient for
market conditions, it may further inhibit liquidity and increase volatility in debt markets. Fiscal, economic, monetary, or
other governmental policies or measures have in the past, and may in the future, cause or exacerbate risks associated with interest
rates, including changes in interest
Summary Prospectus
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VY® Invesco Equity and Income Portfolio
rates. Negative or very low interest rates could magnify the risks associated with
changes in interest rates. In general, changing interest rates, including rates that fall below zero, could have unpredictable effects
on markets and may expose debt and related markets to heightened volatility. Changes to monetary policy by the U.S. Federal
Reserve Board or other regulatory actions could expose debt and related markets to heightened volatility, interest rate
sensitivity, and reduced liquidity, which may impact the Portfolio’s operations and return potential.
Liquidity: If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio’s manager might wish to sell, or at all. Further, the lack of an established secondary market may
make it more difficult to value illiquid securities, exposing the Portfolio to the risk that the prices at which it sells illiquid securities
will be less than the prices at which they were valued when held by the Portfolio, which could cause the Portfolio to lose money.
The prices of illiquid securities may be more volatile than more liquid securities, and the risks associated with illiquid
securities may be greater in times of financial stress. Certain securities that are liquid when purchased may later become illiquid,
particularly in times of overall economic distress or due to geopolitical events such as sanctions, trading halts, or wars.
In addition, markets or securities may become illiquid quickly.
Market: The market values of securities will fluctuate, sometimes sharply and unpredictably,
based on overall economic conditions, governmental actions or intervention, market disruptions caused by trade disputes
or other factors, political developments, and other factors. Prices of equity securities tend to rise and fall more dramatically
than those of debt instruments. Additionally, legislative, regulatory or tax policies or developments may adversely impact the investment
techniques available to a manager, add to costs, and impair the ability of the Portfolio to achieve its investment objectives.
Market Capitalization: Stocks fall into three broad market capitalization categories: large, mid, and small.
Investing primarily in one category carries the risk that, due to current market conditions, that category
may be out of favor with investors. If valuations of large-capitalization companies appear to be greatly out of proportion
to the valuations of mid- or small-capitalization companies, investors may migrate to the stocks of mid- and small-capitalization companies
causing a fund that invests in these companies to increase in value more rapidly than a fund that invests in large-capitalization
companies. Investing in mid- and small-capitalization companies may be subject to special risks associated with
narrower product lines, more limited financial resources, smaller management groups, more limited publicly available information,
and a more limited trading market for their stocks as compared with large-capitalization companies. As a result, stocks
of mid- and small-capitalization companies may be more volatile and may decline significantly in market downturns.
Market Disruption and Geopolitical: The Portfolio is subject to the risk that geopolitical events will disrupt securities
markets and adversely affect global economies and markets. Due to the increasing interdependence
among global economies and markets, conditions in one country, market, or region might adversely impact markets,
issuers and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises
and pandemics, tariffs and other restrictions on trade or economic sanctions, rapid technological developments (such as artificial
intelligence technologies), and other geopolitical events that have led, and may continue to lead, to increased market volatility
and may have adverse short- or long-term effects on U.S. and global economies and markets, generally. For example,
the COVID-19 pandemic resulted in significant market volatility, exchange suspensions and closures, declines in global
financial markets, higher default rates, supply chain disruptions, and a substantial economic downturn in economies throughout
the world. The economic impacts of COVID-19 have created a unique challenge for real estate markets. Many businesses
have either partially or fully transitioned to a remote-working environment and this transition may negatively impact the occupancy
rates of commercial real estate over time. Natural and environmental disasters and systemic market dislocations are
also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may continue to,
adversely affect global energy and financial markets and therefore could affect the value of the Portfolio’s investments, including beyond the Portfolio’s direct exposure to Russian issuers or nearby geographic regions. Furthermore, the prolonged conflict
between Hamas and Israel, and the potential expansion of the conflict in the surrounding areas and the involvement of
other nations in such conflict, such as the Houthi movement's attacks on marine vessels in the Red Sea, could further destabilize
the Middle East region and introduce new uncertainties in global markets, including the oil and natural gas markets. The
extent and duration of the military action, sanctions, and resulting market disruptions are impossible to predict and could be
substantial. A number of U.S. domestic banks and foreign (non-U.S.) banks have experienced financial difficulties and, in
some cases, failures. There can be no certainty that the actions taken by regulators to limit the effect of those financial
difficulties and failures on other banks or other financial institutions or on the U.S. or foreign (non-U.S.) economies generally
will be successful. It is possible that more banks or other financial institutions will experience financial difficulties or fail,
which may affect adversely other U.S. or foreign (non-U.S.) financial institutions and economies. These events as well as other changes
in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual
issuers or related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting the value of the Portfolio’s investments. Any of these occurrences could disrupt the operations of the Portfolio and of the Portfolio’s service providers.
Summary Prospectus
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VY® Invesco Equity and Income Portfolio
Other Investment Companies: The main risk of investing in other investment companies, including ETFs, is the risk
that the value of an investment company’s underlying investments might decrease. Shares of investment companies that are listed on an exchange may trade at a discount or premium from their net asset value. You
will pay a proportionate share of the expenses of those other investment companies (including management fees, administration
fees, and custodial fees) in addition to the Portfolio’s expenses. The investment policies of the other investment companies may not be the same as those of the Portfolio; as a result, an investment in the other investment companies may be
subject to additional or different risks than those to which the Portfolio is typically subject. In addition, shares of ETFs
may trade at a premium or discount to net asset value and are subject to secondary market trading risks. Secondary markets may
be subject to irregular trading activity, wide bid/ask spreads, and extended trade settlement periods in times of market stress
because market makers and authorized participants may step away from making a market in an ETF’s shares, which could cause a material decline in the ETF’s net asset value.
Portfolio Turnover: A high portfolio turnover rate may increase transaction costs, which may lower the Portfolio’s performance and may increase the likelihood of capital gains distributions.
Preferred Stocks: Preferred stock generally has preference over common stock but is generally subordinate
to debt instruments with respect to dividends and liquidation. Preferred stocks are subject to the risks
associated with other types of equity securities, as well as greater credit or other risks than senior debt instruments. In addition,
preferred stocks are subject to other risks, such as risks related to deferred and omitted distributions, limited voting rights,
liquidity, interest rate, regulatory changes and special redemption rights.
Prepayment and Extension: Many types of debt instruments are subject to prepayment and extension risk. Prepayment
risk is the risk that the issuer of a debt instrument will pay back the principal earlier
than expected. This risk is heightened in a falling market interest rate environment. Prepayment may expose the Portfolio to a
lower rate of return upon reinvestment of principal. Also, if a debt instrument subject to prepayment has been purchased at
a premium, the value of the premium would be lost in the event of prepayment. Extension risk is the risk that the issuer of
a debt instrument will pay back the principal later than expected. This risk is heightened in a rising market interest rate environment.
This may negatively affect performance, as the value of the debt instrument decreases when principal payments are made later
than expected. Additionally, the Portfolio may be prevented from investing proceeds it would have received at a given time at
the higher prevailing interest rates.
Real Estate Companies and Real Estate Investment Trusts: Investing in real estate companies and REITs may subject the Portfolio to risks similar to those associated with the direct ownership of real estate, including
losses from casualty or condemnation, changes in local and general economic conditions, supply and demand, market interest
rates, zoning laws, regulatory limitations on rents, property taxes, overbuilding, high foreclosure rates, and operating expenses
in addition to terrorist attacks, wars, or other acts that destroy real property. In addition, REITs may also be affected
by tax and regulatory requirements in that a REIT may not qualify for favorable tax treatment or regulatory exemptions. Investments
in REITs are affected by the management skill of the REIT’s sponsor. The Portfolio will indirectly bear its proportionate share of expenses, including management fees, paid by each REIT in which it invests.
Restricted Securities: Securities that are legally restricted as to resale (such as those issued in private
placements), including securities governed by Rule 144A and Regulation S, and securities that are offered
in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, are referred to as “restricted securities.” Restricted securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed
on an exchange nor traded in other established markets. Due to the absence of a public trading market, restricted securities
may be more volatile, less liquid, and more difficult to value than publicly-traded securities. The price realized from
the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in
privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection
requirements that are afforded to publicly-traded securities. Certain restricted securities represent investments in smaller, less seasoned
issuers, which may involve greater risk.
Securities Lending: Securities lending involves two primary risks: “investment risk” and “borrower default risk.” When lending securities, the Portfolio will receive cash or U.S. government securities as collateral.
Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower.
Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed
security. Securities lending may result in leverage. The use of leverage may exaggerate any increase or decrease in the net asset
value, causing the Portfolio to be more volatile. The use of leverage may increase expenses and increase the impact of the Portfolio’s other risks.
Summary Prospectus
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VY® Invesco Equity and Income Portfolio
Structured Notes: Structured notes are investments, the interest rate or principal of which is linked
to currencies, interest rates, commodities, indices, or other financial indicators (each, a “reference instrument”). Structured notes may entail a greater degree of market risk than other types of debt instruments because the investor
also bears the risk of the reference instrument. Structured notes may be more volatile, less liquid, and more difficult
to accurately price than less complex securities and other types of debt instruments. In addition, structured notes are subject to
other risks, including interest rate risk, credit risk, and liquidity risk.
U.S. Government Securities and Obligations: U.S. government securities are obligations of, or guaranteed by, the U.S. government,
its agencies, or government-sponsored enterprises. U.S. government securities are
subject to market risk and interest rate risk, and may be subject to varying degrees of credit risk.
Value Investing: Securities that appear to be undervalued may never appreciate to the extent expected.
Further, because the prices of value-oriented securities tend to correlate more closely with economic cycles
than growth-oriented securities, they generally are more sensitive to changing economic conditions, such as changes in market
interest rates, corporate earnings and industrial production. The manager may be wrong in its assessment of a company’s value and the securities the Portfolio holds may not reach their full values. Risks associated with value investing include
that a security that is perceived by the manager to be undervalued may actually be appropriately priced and, thus, may not
appreciate and provide anticipated capital growth. The market may not favor value-oriented securities and may not favor equities at all. During those periods, the Portfolio’s relative performance may suffer. There is a risk that funds that invest in value-oriented
securities may underperform other funds that invest more broadly.
An investment in the Portfolio is not a bank deposit and is not insured or guaranteed
by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.
Performance Information
The following information is intended to help you understand the risks of investing
in the Portfolio. The following bar chart shows the changes in the Portfolio's performance from year to year, and the table
compares the Portfolio's performance to the performance of a broad-based securities market index and additional indices with
investment characteristics similar to those of the Portfolio for the same period. The Portfolio's performance information reflects applicable fee waivers and/or expense limitations in effect during the period presented. Absent such fee waivers/expense
limitations, if any, performance would have been lower. The bar chart shows the performance of the Portfolio's Class ADV shares. Performance for other share classes would differ to the extent they have differences in their fees and expenses.
Performance shown in the bar chart and in the Average Annual Total Returns table does
not include insurance-related charges imposed under a Variable Contract or expenses related to a Qualified Plan. If these
charges or expenses were included, performance would be lower. Thus, you should not compare the Portfolio's performance directly
with the performance information of other investment products without taking into account all insurance-related charges and
expenses payable under your Variable Contract or Qualified Plan. The Portfolio's past performance is no guarantee of future results.
Calendar Year Total Returns Class ADV
(as of December 31 of each year)
(as of December 31 of each year)
|
Best quarter:
|
4th Quarter 2020
|
16.64%
|
|
Worst quarter:
|
1st Quarter 2020
|
-20.55%
|
Summary Prospectus
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VY® Invesco Equity and Income Portfolio
Average Annual Total Returns %
(for the periods ended December 31, 2024)
(for the periods ended December 31, 2024)
|
|
|
1 Yr
|
5 Yrs
|
10 Yrs
|
Since
Inception
|
Inception
Date
|
|
Class ADV
|
%
|
11.42
|
7.78
|
6.80
|
N/A
|
12/10/2001
|
|
MSCI ACWI(1)(2)
|
%
|
17.49
|
10.06
|
9.23
|
N/A
|
|
|
Bloomberg U.S. Aggregate Bond Index(1)(3)
|
%
|
1.25
|
-0.33
|
1.35
|
N/A
|
|
|
Russell 1000® Value Index(1)(3)
|
%
|
14.37
|
8.68
|
8.49
|
N/A
|
|
|
Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
1.18
|
-0.21
|
1.50
|
N/A
|
|
|
60% Russell 1000® Value Index; 40% Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
9.05
|
5.40
|
5.93
|
N/A
|
|
|
Class I
|
%
|
12.00
|
8.31
|
7.34
|
N/A
|
12/10/2001
|
|
MSCI ACWI(1)(2)
|
%
|
17.49
|
10.06
|
9.23
|
N/A
|
|
|
Bloomberg U.S. Aggregate Bond Index(1)(3)
|
%
|
1.25
|
-0.33
|
1.35
|
N/A
|
|
|
Russell 1000® Value Index(1)(3)
|
%
|
14.37
|
8.68
|
8.49
|
N/A
|
|
|
Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
1.18
|
-0.21
|
1.50
|
N/A
|
|
|
60% Russell 1000® Value Index; 40% Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
9.05
|
5.40
|
5.93
|
N/A
|
|
|
Class S
|
%
|
11.71
|
8.04
|
7.07
|
N/A
|
12/10/2001
|
|
MSCI ACWI(1)(2)
|
%
|
17.49
|
10.06
|
9.23
|
N/A
|
|
|
Bloomberg U.S. Aggregate Bond Index(1)(3)
|
%
|
1.25
|
-0.33
|
1.35
|
N/A
|
|
|
Russell 1000® Value Index(1)(3)
|
%
|
14.37
|
8.68
|
8.49
|
N/A
|
|
|
Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
1.18
|
-0.21
|
1.50
|
N/A
|
|
|
60% Russell 1000® Value Index; 40% Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
9.05
|
5.40
|
5.93
|
N/A
|
|
|
Class S2
|
%
|
11.53
|
7.90
|
6.93
|
N/A
|
2/27/2009
|
|
MSCI ACWI(1)(2)
|
%
|
17.49
|
10.06
|
9.23
|
N/A
|
|
|
Bloomberg U.S. Aggregate Bond Index(1)(3)
|
%
|
1.25
|
-0.33
|
1.35
|
N/A
|
|
|
Russell 1000® Value Index(1)(3)
|
%
|
14.37
|
8.68
|
8.49
|
N/A
|
|
|
Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
1.18
|
-0.21
|
1.50
|
N/A
|
|
|
60% Russell 1000® Value Index; 40% Bloomberg U.S. Government/Credit Index(1)(3)
|
%
|
9.05
|
5.40
|
5.93
|
N/A
|
|
(1)
Effective commencing with shareholder reports filed and transmitted to shareholders
after July 24, 2024, the Investment Adviser changed the primary benchmarks from the Russell 1000® Value Index and the Bloomberg U.S. Government/Credit Index to the MSCI All Country
World IndexSM (“MSCI ACWI”) and the Bloomberg U.S. Aggregate Bond Index in accordance with changes to regulatory
disclosure requirements. The Portfolio continues to use the Russell 1000® Value Index and the Bloomberg U.S. Government/Credit Index as additional benchmarks
that the Investment Adviser believes more closely reflects the Portfolio’s principal investment strategies.
(2)
The index returns include the reinvestment of dividends and distributions net of withholding
taxes, but do not reflect fees, brokerage commissions, or other expenses.
(3)
The index returns do not reflect deductions for fees, expenses, or taxes.
Portfolio Management
|
Investment Adviser
|
|
Voya Investments, LLC
|
|
Sub-Adviser
|
|
Invesco Advisers, Inc.
|
|
Portfolio Managers
|
|
|
Chuck Burge
Portfolio Manager (since 6/2010)
|
Will Guthrie, CFA
Portfolio Manager (since 3/2026)
|
|
Brian Jurkash
Co-Lead Portfolio Manager (since 4/2015)
|
Sergio Marcheli
Portfolio Manager (since 11/2004)
|
|
Matthew Titus, CFA
Co-Lead Portfolio Manager (since 1/2016)
|
|
Purchase and Sale of Portfolio Shares
Shares of the Portfolio are not offered directly to the public. Purchase and sale
of shares may be made only by separate accounts of insurance companies serving as investment options under Variable Contracts
or by Qualified Plans, custodian accounts, and certain investment advisers and their affiliates, other investment companies,
or permitted investors. Please refer to the prospectus for the appropriate insurance company separate account, investment
company, or your plan documents
Summary Prospectus
7 of 8
VY® Invesco Equity and Income Portfolio
for information on how to direct investments in, or sale from, an investment option
corresponding to the Portfolio and any fees that may apply. Participating insurance companies and certain other designated
organizations are authorized to receive purchase orders on the Portfolio's behalf.
Tax Information
Distributions made by the Portfolio to a Variable Contract or Qualified Plan, and
exchanges and redemptions of Portfolio shares made by a Variable Contract or Qualified Plan, ordinarily do not cause the corresponding
contract holder or plan participant to recognize income or gain for U.S. federal income tax purposes. See the Variable
Contract prospectus or the governing documents of your Qualified Plan for information regarding the U.S. federal income
tax treatment of the distributions to your Variable Contract or Qualified Plan and the holders of the contracts or plan participants.
Payments to Broker-Dealers and Other Financial Intermediaries
If you invest in the Portfolio through a Variable Contract issued by an insurance
company or through a Qualified Plan that, in turn, was purchased or serviced through an insurance company, broker-dealer or other
financial intermediary, the Portfolio and its Investment Adviser or distributor or their affiliates may: (1) make payments
to the insurance company issuer of the Variable Contract or to the company servicing the Qualified Plan and (2) make payments
to the insurance company, broker-dealer, or other financial intermediary. These payments may create a conflict of interest
by: (1) influencing the insurance company or the company servicing the Qualified Plan to make the Portfolio available as an
investment option for the Variable Contract or the Qualified Plan or (2) by influencing the broker-dealer or other intermediary
and your salesperson to recommend the Variable Contract or the pension servicing agent and/or the Portfolio over other options.
Ask your salesperson or Qualified Plan administrator or visit your financial intermediary's website for more information.
Bloomberg Index Data Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or its licensors own all proprietary rights in the Bloomberg Indices.
Bloomberg does not approve or endorse this material, or guarantee the accuracy or completeness of any information herein, or
make any warranty, express or implied, as to the results to be obtained.
FTSE Russell Index Data Source: London Stock Exchange Group plc and its group undertakings
(collectively, the “LSE Group”). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®”, “Russell®”, “FTSE Russell®”, “Russell 1000®”, “Russell 2000®”, “Russell 2500®”, and “Russell 3000®” are trade marks of the relevant LSE Group companies and are used by any other LSE
Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the
index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely
on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
Certain information contained herein (the “Information”) is sourced from/copyright of MSCI Inc., MSCI ESG Research LLC, or their affiliates
(“MSCI”), or information providers (together the “MSCI Parties”) and may have been used to calculate scores, signals, or other indicators. The Information
is for internal use only and may not be reproduced or disseminated in whole or part without prior
written permission. The Information may not be used for, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security,
financial instrument or product, trading strategy, or index, nor should it be taken as an indication or guarantee of any future performance. Some funds may
be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between index research and certain Information. None of the Information in and of itself can be used to determine which securities
to buy or sell or when to buy or sell them. The Information is provided “as is” and the user assumes the entire risk of any use it may make or permit to be made
of the Information. No MSCI Party warrants or guarantees the originality, accuracy and/or completeness of the Information and each expressly disclaims
all express or implied warranties. No MSCI Party shall have any liability for any errors or omissions in connection with any Information herein, or
any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such
damages.
Summary Prospectus
8 of 8
SPRO-808 (0326-030626)
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