PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
1
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
93.2%
Brazil
:
2.8%
49,600 
Banco
do
Brasil
SA
$
257,309
0.2
11,453 
BB
Seguridade
Participacoes
SA
70,124
0.1
18,800 
Caixa
Seguridade
Participacoes
S/A
52,488
0.1
29,400 
CCR
SA
67,468
0.1
172,731 
Cia
Siderurgica
Nacional
SA
431,589
0.4
135,521 
Cosan
SA
354,101
0.3
41,800 
JBS
S/A
230,139
0.2
13,900 
Rumo
SA
52,176
0.0
38,664 
Telefonica
Brasil
SA
323,323
0.3
113,419 
TIM
SA/Brazil
343,655
0.3
70,671 
Vale
SA
-
Foreign
849,387
0.8
3,031,759
2.8
Chile
:
0.5%
57,706 
Cencosud
SA
108,364
0.1
165,391 
(1)
Falabella
SA
501,032
0.4
609,396
0.5
China
:
23.9%
43,700 
37
Interactive
Entertainment
Network
Technology
Group
Co.
Ltd.
-
Class
A
87,625
0.1
18,500 
AAC
Technologies
Holdings,
Inc.
57,134
0.1
232,100 
Alibaba
Group
Holding
Ltd.
2,266,349
2.1
14,700 
Anhui
Gujing
Distillery
Co.
Ltd.
-
Class
B
228,386
0.2
6,818 
Autohome,
Inc.,
ADR
193,631
0.2
699,000 
AviChina
Industry
&
Technology
Co.
Ltd.
-
Class
H
317,171
0.3
1,468,000 
Bank
of
China
Ltd.
-
Class
H
695,895
0.6
204,600 
Bank
of
Jiangsu
Co.
Ltd.
-
Class
A
233,473
0.2
14,500 
Beijing
Tiantan
Biological
Products
Corp.
Ltd.
-
Class
A
56,801
0.1
27,000 
BYD
Co.
Ltd.
-
Class
H
757,601
0.7
73,900 
By-health
Co.
Ltd.
-
Class
A
154,147
0.1
505,000 
China
CITIC
Bank
Corp.
Ltd.
-
Class
H
308,864
0.3
800,000 
China
Communications
Services
Corp.
Ltd.
-
Class
H
384,836
0.3
1,159,000 
China
Construction
Bank
Corp.
-
Class
H
822,570
0.7
94,000 
China
Longyuan
Power
Group
Corp.
Ltd.
-
Class
H
85,892
0.1
272,000 
China
Minsheng
Banking
Corp.
Ltd.
-
Class
H
103,036
0.1
422,000 
China
Oilfield
Services
Ltd.
-
Class
H
451,016
0.4
554,000 
China
Railway
Group
Ltd.
-
Class
H
298,506
0.3
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
68,599 
China
Railway
Signal
&
Communication
Corp.
Ltd.
-
Class
A
$
51,979
0.0
157,500 
(2)
China
Resources
Pharmaceutical
Group
Ltd.
116,820
0.1
73,100 
China
State
Construction
Engineering
Corp.
Ltd.
-
Class
A
56,822
0.1
2,772,000 
(2)
China
Tower
Corp.
Ltd.
-
Class
H
327,322
0.3
92,100 
China
XD
Electric
Co.
Ltd.
-
Class
A
86,246
0.1
51,400 
China
Yangtze
Power
Co.
Ltd.
-
Class
A
188,812
0.2
294,000 
CMOC
Group
Ltd.
-
Class
H
272,001
0.2
141,500 
COSCO
SHIPPING
Holdings
Co.
Ltd.
-
Class
H
236,949
0.2
75,360 
CSPC
Pharmaceutical
Group
Ltd.
64,069
0.1
42,300 
Dong-E-E-Jiao
Co.
Ltd.
-
Class
A
395,531
0.4
242,500 
Fosun
International
Ltd.
136,222
0.1
185,500 
Goldwind
Science
&
Technology
Co.
Ltd.
-
Class
A
199,670
0.2
136,000 
Great
Wall
Motor
Co.
Ltd.
-
Class
H
235,432
0.2
212,100 
GRG
Banking
Equipment
Co.
Ltd.
-
Class
A
315,518
0.3
620,000 
Guangzhou
Automobile
Group
Co.
Ltd.
-
Class
H
258,295
0.2
144,600 
(2)
Huatai
Securities
Co.
Ltd.
-
Class
H
165,005
0.1
28,200 
Hubei
Jumpcan
Pharmaceutical
Co.
Ltd.
-
Class
A
148,306
0.1
256,592 
Industrial
&
Commercial
Bank
of
China
Ltd.
-
Class
H
145,369
0.1
116,000 
Inner
Mongolia
Yitai
Coal
Co.
Ltd.
-
Class
B
213,310
0.2
22,102 
JD.com,
Inc.
-
Class
A
327,630
0.3
70,000 
Jiangsu
Expressway
Co.
Ltd.
-
Class
H
72,869
0.1
32,499 
Jiangsu
Zhongtian
Technology
Co.
Ltd.
-
Class
A
67,549
0.1
23,000 
Jiangxi
Copper
Co.
Ltd.
-
Class
H
49,755
0.0
81,100 
Joincare
Pharmaceutical
Group
Industry
Co.
Ltd.
-
Class
A
139,496
0.1
51,000 
Jointown
Pharmaceutical
Group
Co.
Ltd.
-
Class
A
52,152
0.0
116,600 
Kingsoft
Corp.
Ltd.
374,323
0.3
346,000 
Lenovo
Group
Ltd.
498,416
0.5
20,800 
Livzon
Pharmaceutical
Group,
Inc.
-
Class
A
111,152
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
(continued)
2
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
7,300 
Luzhou
Laojiao
Co.
Ltd.
-
Class
A
$
175,659
0.2
35,920 
(1)(2)
Meituan
-
Class
B
489,453
0.4
23,400 
MINISO
Group
Holding
Ltd.
132,093
0.1
17,600 
NARI
Technology
Co.
Ltd.
-
Class
A
54,609
0.0
36,400 
NetEase,
Inc.
647,330
0.6
22,800 
(2)
Nongfu
Spring
Co.
Ltd.
-
Class
H
121,400
0.1
66,900 
Offshore
Oil
Engineering
Co.
Ltd.
-
Class
A
56,772
0.1
1,119,000 
People's
Insurance
Co.
Group
of
China
Ltd.
-
Class
H
389,993
0.4
528,000 
PetroChina
Co.
Ltd.
-
Class
H
541,389
0.5
372,000 
PICC
Property
&
Casualty
Co.
Ltd.
-
Class
H
484,779
0.4
105,000 
Ping
An
Insurance
Group
Co.
of
China
Ltd.
-
Class
H
534,058
0.5
138,500 
Shanghai
Baosight
Software
Co.
Ltd.
-
Class
B
301,368
0.3
817,600 
Shanghai
Construction
Group
Co.
Ltd.
-
Class
A
262,986
0.2
211,900 
Shanghai
Pharmaceuticals
Holding
Co.
Ltd.
-
Class
H
314,604
0.3
5,200 
Shenzhen
Mindray
Bio-
Medical
Electronics
Co.
Ltd.
-
Class
A
208,150
0.2
7,400 
Sieyuan
Electric
Co.
Ltd.
-
Class
A
72,007
0.1
82,800 
Sinopharm
Group
Co.
Ltd.
-
Class
H
225,326
0.2
152,500 
Sinotruk
Hong
Kong
Ltd.
354,673
0.3
27,900 
TBEA
Co.
Ltd.
-
Class
A
57,494
0.1
102,700 
Tencent
Holdings
Ltd.
4,764,622
4.3
113,600 
Tian
Di
Science
&
Technology
Co.
Ltd.
-
Class
A
110,912
0.1
64,000 
Tingyi
Cayman
Islands
Holding
Corp.
78,183
0.1
63,600 
(1)
Tongcheng
Travel
Holdings
Ltd.
145,617
0.1
374,000 
(2)
Topsports
International
Holdings
Ltd.
244,115
0.2
68,000 
TravelSky
Technology
Ltd.
-
Class
H
89,569
0.1
23,609 
Trina
Solar
Co.
Ltd.
-
Class
A
72,128
0.1
18,005 
Vipshop
Holdings
Ltd.,
ADR
289,340
0.3
123,000 
Weichai
Power
Co.
Ltd.
-
Class
H
220,949
0.2
94,500 
Western
Mining
Co.
Ltd.
-
Class
A
242,944
0.2
3,700 
Wuliangye
Yibin
Co.
Ltd.
-
Class
A
74,697
0.1
192,000 
Xinyi
Solar
Holdings
Ltd.
127,053
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
88,000 
(2)
Yadea
Group
Holdings
Ltd.
$
140,797
0.1
39,000 
Yankuang
Energy
Group
Co.
Ltd.
-
Class
H
97,477
0.1
9,420 
YongXing
Special
Materials
Technology
Co.
Ltd.
-
Class
A
55,946
0.1
120,000 
Yutong
Bus
Co.
Ltd.
-
Class
A
404,142
0.4
37,400 
Zhejiang
Dahua
Technology
Co.
Ltd.
-
Class
A
84,740
0.1
412,000 
Zhejiang
Expressway
Co.
Ltd.
-
Class
H
269,029
0.2
82,500 
Zhuzhou
CRRC
Times
Electric
Co.
Ltd.
-
Class
H
323,095
0.3
52,800 
(1)
ZTE
Corp.
-
Class
H
108,999
0.1
26,178,450
23.9
Colombia
:
0.3%
61,660 
Interconexion
Electrica
SA
ESP
303,247
0.3
Czechia
:
0.1%
18,185 
(2)
Moneta
Money
Bank
AS
79,645
0.1
Egypt
:
0.1%
188,718 
Eastern
Co.
SAE
110,318
0.1
Greece
:
1.5%
237,145 
(1)
Alpha
Services
and
Holdings
SA
400,763
0.4
143,811 
(1)
Eurobank
Ergasias
Services
and
Holdings
SA
313,956
0.3
4,759 
Jumbo
SA
136,323
0.1
21,721 
OPAP
SA
345,275
0.3
46,364 
(1)
Piraeus
Financial
Holdings
SA
182,143
0.2
21,767 
(1)
Public
Power
Corp.
SA
265,581
0.2
1,644,041
1.5
Hong
Kong
:
1.1%
17,500 
Beijing
Enterprises
Holdings
Ltd.
61,688
0.0
276,000 
Bosideng
International
Holdings
Ltd.
159,699
0.1
155,500 
China
Overseas
Land
&
Investment
Ltd.
294,681
0.3
48,000 
China
Resources
Land
Ltd.
175,164
0.2
353,000 
Far
East
Horizon
Ltd.
283,469
0.2
178,000 
Geely
Automobile
Holdings
Ltd.
216,666
0.2
184,000 
Sino
Biopharmaceutical
Ltd.
67,144
0.1
1,258,511
1.1
Hungary
:
0.7%
14,613 
MOL
Hungarian
Oil
&
Gas
PLC
113,525
0.1
2,457 
OTP
Bank
Nyrt
118,649
0.1
20,437 
Richter
Gedeon
Nyrt
517,852
0.5
750,026
0.7
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
(continued)
3
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
India
:
17.5%
2,558 
ABB
India
Ltd.
$
254,866
0.2
17,540 
Adani
Ports
&
Special
Economic
Zone
Ltd.
302,649
0.3
1,799 
Apollo
Hospitals
Enterprise
Ltd.
126,049
0.1
18,414 
Aurobindo
Pharma
Ltd.
261,781
0.2
75,590 
Axis
Bank
Ltd.
1,053,817
1.0
2,482 
Bajaj
Auto
Ltd.
270,317
0.2
7,477 
Bajaj
Finance
Ltd.
600,265
0.5
58,493 
Bank
of
Baroda
186,132
0.2
10,401 
Cholamandalam
Investment
and
Finance
Co.
Ltd.
154,844
0.1
8,768 
Cipla
Ltd./India
152,309
0.1
10,956 
Colgate-Palmolive
India
Ltd.
349,042
0.3
8,671 
DLF
Ltd.
84,935
0.1
1,549 
Dr
Reddy's
Laboratories
Ltd.
107,601
0.1
41,520 
HCL
Technologies
Ltd.
660,081
0.6
28,306 
HDFC
Bank
Ltd.
519,948
0.5
76,140 
Hindalco
Industries
Ltd.
630,772
0.6
129,027 
ICICI
Bank
Ltd.
1,734,258
1.6
19,399 
IndusInd
Bank
Ltd.
340,114
0.3
19,748 
Infosys
Ltd.
334,751
0.3
99,395 
ITC
Ltd.
508,295
0.5
15,239 
JSW
Steel
Ltd.
161,100
0.1
16,647 
Kotak
Mahindra
Bank
Ltd.
335,671
0.3
25,679 
Larsen
&
Toubro
Ltd.
1,130,134
1.0
4,862 
Lupin
Ltd.
92,310
0.1
4,171 
Maruti
Suzuki
India
Ltd.
620,614
0.6
180,154 
Oil
&
Natural
Gas
Corp.
Ltd.
572,092
0.5
10,258 
PI
Industries
Ltd.
435,639
0.4
113,803 
Power
Finance
Corp.
Ltd.
672,978
0.6
177,055 
Power
Grid
Corp.
of
India
Ltd.
658,820
0.6
97,487 
REC
Ltd.
629,258
0.6
25,307 
Reliance
Industries
Ltd.
868,180
0.8
76,366 
Samvardhana
Motherson
International
Ltd.
138,904
0.1
19,942 
Shriram
Finance
Ltd.
563,340
0.5
1,660 
Supreme
Industries
Ltd.
105,212
0.1
25,479 
Tata
Consultancy
Services
Ltd.
1,122,781
1.0
25,299 
Tata
Motors
Ltd.
280,264
0.3
313,907 
Tata
Steel
Ltd.
629,672
0.6
11,464 
Torrent
Pharmaceuticals
Ltd.
370,749
0.3
158,094 
Union
Bank
of
India
Ltd.
303,915
0.3
9,328 
UPL
Ltd.
56,893
0.1
135,612 
Vedanta
Ltd.
730,180
0.7
18,478 
Wipro
Ltd.
97,041
0.1
19,208,573
17.5
Indonesia
:
0.7%
961,800 
Aneka
Tambang
Tbk
86,817
0.1
93,400 
Bank
Central
Asia
Tbk
PT
53,142
0.0
1,913,400 
Bank
Rakyat
Indonesia
Persero
Tbk
PT
512,867
0.5
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Indonesia
(continued)
226,200 
Indah
Kiat
Pulp
&
Paper
Tbk
PT
$
127,008
0.1
779,834
0.7
Ireland
:
1.2%
8,669 
(1)
PDD
Holdings,
Inc.,
ADR
1,298,443
1.2
Kuwait
:
0.2%
134,613 
Mobile
Telecommunications
Co.
KSCP
198,244
0.2
Luxembourg
:
0.1%
5,514 
Reinet
Investments
SCA
138,961
0.1
Malaysia
:
1.9%
368,300 
CIMB
Group
Holdings
Bhd
536,242
0.5
379,500 
Genting
Bhd
384,031
0.4
722,800 
Genting
Malaysia
Bhd
407,686
0.4
21,800 
Hong
Leong
Bank
Bhd
89,287
0.1
67,800 
Malayan
Banking
Bhd
143,070
0.1
552,300 
Public
Bank
Bhd
481,270
0.4
2,041,586
1.9
Mexico
:
2.4%
37,139 
Arca
Continental
SAB
de
CV
380,726
0.3
34,500 
(2)
Banco
del
Bajio
SA
119,463
0.1
10,100 
Coca-Cola
Femsa
SAB
de
CV
94,324
0.1
313,478 
Fibra
Uno
Administracion
SA
de
CV
443,431
0.4
12,400 
Grupo
Financiero
Banorte
SAB
de
CV
-
Class
O
117,791
0.1
165,509 
Kimberly-Clark
de
Mexico
SAB
de
CV
-
Class
A
348,060
0.3
158,262 
Operadora
De
Sites
Mexicanos
SAB
de
CV
-
Class
1
163,985
0.2
38,363 
Promotora
y
Operadora
de
Infraestructura
SAB
de
CV
421,311
0.4
153,614 
Wal-Mart
de
Mexico
SAB
de
CV
577,190
0.5
2,666,281
2.4
Philippines
:
0.4%
222,300 
Ayala
Land,
Inc.
99,969
0.1
215,220 
Metropolitan
Bank
&
Trust
Co.
228,459
0.2
3,875 
PLDT,
Inc.
98,011
0.1
426,439
0.4
Poland
:
0.6%
1,340 
Bank
Polska
Kasa
Opieki
SA
54,578
0.0
47 
L.P.
SA
207,588
0.2
32,842 
Powszechny
Zaklad
Ubezpieczen
SA
417,981
0.4
680,147
0.6
Qatar
:
1.3%
67,568 
Barwa
Real
Estate
Co.
52,467
0.0
165,139 
Commercial
Bank
PSQC
175,979
0.2
610,998 
Mesaieed
Petrochemical
Holding
Co.
290,722
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
(continued)
4
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Qatar
(continued)
111,396 
Ooredoo
QPSC
$
287,781
0.3
77,292 
Qatar
Electricity
&
Water
Co.
QSC
318,775
0.3
54,471 
Qatar
Islamic
Bank
SAQ
258,335
0.2
1,384,059
1.3
Russia
:
—%
354,185 
(3)
Alrosa
PJSC
—
—
10,144,776 
(3)
Inter
RAO
UES
PJSC
—
—
15,442 
(3)
Lukoil
PJSC
—
—
9,459 
(3)
Magnit
PJSC
—
—
116,758 
(3)
Mobile
TeleSystems
PJSC
—
—
4,585 
(1)(3)
Severstal
PAO
—
—
130,134 
(3)
Surgutneftegas
PJSC
—
—
125,422 
(3)
Tatneft
PJSC
—
—
—
—
Saudi
Arabia
:
2.4%
20,369 
Arab
National
Bank
107,382
0.1
47,709 
Etihad
Etisalat
Co.
597,394
0.5
24,577 
Riyad
Bank
160,312
0.1
41,053 
Sahara
International
Petrochemical
Co.
326,721
0.3
39,848 
Saudi
Awwal
Bank
407,466
0.4
19,923 
Saudi
Basic
Industries
Corp.
404,566
0.4
27,493 
Saudi
Electricity
Co.
122,787
0.1
116,171 
Saudi
Investment
Bank
387,629
0.4
15,408 
Yanbu
National
Petrochemical
Co.
148,830
0.1
2,663,087
2.4
Singapore
:
0.4%
54,500 
(2)
BOC
Aviation
Ltd.
404,850
0.4
South
Africa
:
2.1%
60,851 
Absa
Group
Ltd.
483,212
0.4
26,851 
Exxaro
Resources
Ltd.
260,128
0.2
160,442 
FirstRand
Ltd.
556,627
0.5
30,166 
Impala
Platinum
Holdings
Ltd.
155,396
0.1
959 
Naspers
Ltd.
-
Class
N
190,105
0.2
5,345 
Nedbank
Group
Ltd.
65,011
0.1
25,263 
Sasol
Ltd.
167,847
0.2
11,280 
Shoprite
Holdings
Ltd.
149,975
0.1
123,814 
Sibanye
Stillwater
Ltd.
156,272
0.1
5,833 
Standard
Bank
Group
Ltd.
55,723
0.1
27,448 
Woolworths
Holdings
Ltd./
South
Africa
79,560
0.1
2,319,856
2.1
South
Korea
:
9.3%
1,924 
Amorepacific
Corp.
270,262
0.2
1,254 
CJ
CheilJedang
Corp.
317,553
0.3
4,507 
DB
Insurance
Co.
Ltd.
337,788
0.3
1,373 
Doosan
Bobcat,
Inc.
57,413
0.1
5,237 
GS
Holdings
Corp.
165,340
0.1
9,330 
Hankook
Tire
&
Technology
Co.
Ltd.
295,638
0.3
7,635 
HD
Hyundai
Co.
Ltd.
380,496
0.3
4,006 
(1)
HD
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
378,497
0.3
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
South
Korea
(continued)
3,107 
Hyundai
Mobis
Co.
Ltd.
$
484,428
0.4
3,297 
Hyundai
Motor
Co.
605,012
0.6
5,983 
Hyundai
Steel
Co.
128,500
0.1
7,915 
KB
Financial
Group,
Inc.
455,036
0.4
8,410 
Kia
Corp.
717,846
0.7
7,853 
Korea
Investment
Holdings
Co.
Ltd.
370,394
0.3
7,503 
KT
Corp.
200,327
0.2
1,241 
LG
Chem
Ltd.
317,173
0.3
4,940 
LG
Electronics,
Inc.
375,755
0.3
434 
LG
H&H
Co.
Ltd.
131,284
0.1
372 
LG
Innotek
Co.
Ltd.
66,738
0.1
14,198 
LG
Uplus
Corp.
99,153
0.1
1,862 
NAVER
Corp.
230,514
0.2
40,162 
NH
Investment
&
Securities
Co.
Ltd.
356,696
0.3
22,115 
Samsung
Electronics
Co.
Ltd.
1,171,715
1.1
1,991 
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
502,638
0.5
12,002 
Shinhan
Financial
Group
Co.
Ltd.
411,748
0.4
5,300 
SK
hynix,
Inc.
730,278
0.7
5,848 
SK
Telecom
Co.
Ltd.
215,802
0.2
3,209 
SK,
Inc.
409,870
0.4
10,183,894
9.3
Taiwan
:
17.1%
130,000 
Acer,
Inc.
213,258
0.2
1,000 
Alchip
Technologies
Ltd.
89,343
0.1
73,000 
ASE
Technology
Holding
Co.
Ltd.
354,449
0.3
41,000 
Asustek
Computer,
Inc.
652,735
0.6
77,000 
Cheng
Shin
Rubber
Industry
Co.
Ltd.
144,930
0.1
143,000 
China
Steel
Corp.
104,955
0.1
285,000 
Compal
Electronics,
Inc.
327,278
0.3
48,000 
Delta
Electronics,
Inc.
483,672
0.4
242,000 
Hon
Hai
Precision
Industry
Co.
Ltd.
1,288,771
1.2
160,000 
Inventec
Corp.
266,439
0.3
38,000 
MediaTek,
Inc.
1,455,176
1.3
74,000 
Micro-Star
International
Co.
Ltd.
439,572
0.4
11,000 
Novatek
Microelectronics
Corp.
202,790
0.2
43,000 
President
Chain
Store
Corp.
358,781
0.3
41,000 
Quanta
Computer,
Inc.
348,352
0.3
22,000 
Realtek
Semiconductor
Corp.
371,445
0.3
379,962 
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
9,730,046
8.9
48,000 
Uni-President
Enterprises
Corp.
118,671
0.1
486,000 
United
Microelectronics
Corp.
827,379
0.8
26,000 
Wistron
Corp.
90,570
0.1
2,000 
Wiwynn
Corp.
153,069
0.1
322,000 
Yuanta
Financial
Holding
Co.
Ltd.
315,550
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
(continued)
5
Voya
Emerging
Markets
High
Dividend
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Taiwan
(continued)
114,000 
Zhen
Ding
Technology
Holding
Ltd.
$
431,451
0.4
18,768,682
17.1
Thailand
:
2.2%
480,700 
Bangkok
Dusit
Medical
Services
PCL
-
Class
F
353,095
0.3
31,100 
Bumrungrad
Hospital
PCL
204,746
0.2
400,800 
(1)
Charoen
Pokphand
Foods
PCL
248,424
0.2
465,400 
Indorama
Ventures
PCL
-
Foreign
292,964
0.3
79,800 
Kasikornbank
PCL
-
Foreign
284,596
0.2
428,900 
Krung
Thai
Bank
PCL
200,767
0.2
19,300 
PTT
Exploration
&
Production
PCL
81,156
0.1
436,600 
PTT
Global
Chemical
PCL
413,672
0.4
135,100 
SCB
X
PCL
-
Foreign
390,102
0.3
2,469,522
2.2
Turkey
:
0.2%
7,289 
BIM
Birlesik
Magazalar
AS
108,578
0.1
11,863 
KOC
Holding
AS
87,693
0.1
196,271
0.2
United
Arab
Emirates
:
2.2%
242,642 
Abu
Dhabi
Commercial
Bank
PJSC
515,662
0.5
226,236 
Aldar
Properties
PJSC
338,764
0.3
198,450 
Dubai
Islamic
Bank
PJSC
298,238
0.3
314,292 
Emaar
Properties
PJSC
655,443
0.6
134,772 
Emirates
NBD
Bank
PJSC
570,563
0.5
2,378,670
2.2
Total
Common
Stock
(Cost
$92,056,897)
102,172,792
93.2
EXCHANGE-TRADED
FUNDS
:
1.5%
39,949 
iShares
MSCI
Emerging
Markets
ETF
1,669,469
1.5
Total
Exchange-Traded
Funds
(Cost
$1,640,214)
1,669,469
1.5
PREFERRED
STOCK
:
4.2%
Brazil
:
1.7%
32,800 
Centrais
Eletricas
Brasileiras
SA
245,427
0.2
321,409 
Cia
Energetica
de
Minas
Gerais
609,043
0.6
129,875 
Petroleo
Brasileiro
SA
961,157
0.9
1,815,627
1.7
South
Korea
:
2.5%
62,096 
Samsung
Electronics
Co.
Ltd.
2,709,317
2.5
Total
Preferred
Stock
(Cost
$3,474,760)
4,524,944
4.2
Shares
RA
Value
Percentage
of
Net
Assets
PREFERRED
STOCK:
(continued)
South
Korea
(continued)
Total
Long-Term
Investments
(Cost
$97,171,871)
$
108,367,205
98.9
SHORT-TERM
INVESTMENTS
:
0.7%
Mutual
Funds
:
0.7%
800,000 
(4)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.230%
(Cost
$800,000)
$
800,000
0.7
Total
Short-Term
Investments
(Cost
$800,000)
800,000
0.7
Total
Investments
in
Securities
(Cost
$97,971,871)
$
109,167,205
99.6
Assets
in
Excess
of
Other
Liabilities
482,655
0.4
Net
Assets
$
109,649,860
100.0
ADR
American
Depositary
Receipt
(1)
Non-income
producing
security.
(2)
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.
(3)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
(4)
Rate
shown
is
the
7-day
yield
as
of
May
31,
2024.
Sector
Diversification
Percentage
of
Net
Assets
Information
Technology
24.0
%
Financials
21.2
Consumer
Discretionary
12.1
Communication
Services
8.4
Materials
7.1
Industrials
7.0
Consumer
Staples
4.8
Energy
4.5
Health
Care
3.7
Utilities
2.6
Real
Estate
2.0
Exchange-Traded
Funds
1.5
Short-Term
Investments
0.7
Assets
in
Excess
of
Other
Liabilities
0.4
Net
Assets
100.0%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
May
31,
2024
(unaudited)
(continued)
6
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,
2024
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,
2024
Asset
Table
Investments,
at
fair
value
Common
Stock
Brazil
$
3,031,759
$
—
$
—
$
3,031,759
Chile
609,396
—
—
609,396
China
671,783
25,506,667
—
26,178,450
Colombia
303,247
—
—
303,247
Czechia
—
79,645
—
79,645
Egypt
—
110,318
—
110,318
Greece
795,554
848,487
—
1,644,041
Hong
Kong
283,469
975,042
—
1,258,511
Hungary
631,377
118,649
—
750,026
India
—
19,208,573
—
19,208,573
Indonesia
—
779,834
—
779,834
Ireland
1,298,443
—
—
1,298,443
Kuwait
—
198,244
—
198,244
Luxembourg
138,961
—
—
138,961
Malaysia
—
2,041,586
—
2,041,586
Mexico
2,666,281
—
—
2,666,281
Philippines
—
426,439
—
426,439
Poland
—
680,147
—
680,147
Qatar
175,979
1,208,080
—
1,384,059
Russia
—
—
—
—
Saudi
Arabia
326,721
2,336,366
—
2,663,087
Singapore
—
404,850
—
404,850
South
Africa
627,783
1,692,073
—
2,319,856
South
Korea
—
10,183,894
—
10,183,894
Taiwan
—
18,768,682
—
18,768,682
Thailand
—
2,469,522
—
2,469,522
Turkey
196,271
—
—
196,271
United
Arab
Emirates
1,863,008
515,662
—
2,378,670
Total
Common
Stock
13,620,032
88,552,760
—
102,172,792
Exchange-Traded
Funds
1,669,469
—
—
1,669,469
Preferred
Stock
1,815,627
2,709,317
—
4,524,944
Short-Term
Investments
800,000
—
—
800,000
Total
Investments,
at
fair
value
$
17,905,128
$
91,262,077
$
—
$
109,167,205
Liabilities
Table
Other
Financial
Instruments+
Written
Options
$
—
$
(188,455)
$
—
$
(188,455)
Total
Liabilities
$
—
$
(188,455)
$
—
$
(188,455)
#
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,
2024
(unaudited)
(continued)
7
Voya
Emerging
Markets
High
Dividend
Equity
Fund
At
May
31,
2024,
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
Bank
of
America
N.A.
Call
06/21/24
USD
43.790
255,766
USD
10,688,461
$
165,762
$
(9,149)
iShares
MSCI
Emerging
Markets
ETF
JPMorgan
Chase
Bank
N.A.
Call
07/05/24
USD
41.790
263,221
USD
11,000,006
179,306
(179,306)
$
345,068
$
(188,455)
Currency
Abbreviations:
USD
—
United
States
Dollar
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
22,328,305
Gross
Unrealized
Depreciation
(11,132,970)
Net
Unrealized
Appreciation
$
11,195,335
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