US Small/Mid Cap – Active - Voya Financial

1 Release Date: 12-31-2018US Small/Mid Cap Active ..BenchmarkOverall Morningstar Rating Morningstar ReturnMorningstar RiskRussell 2500 TR of 644 small Blend investments. An investment's overall Morningstar Rating, based on its risk-adjusted return,is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure page for Objective & StrategyThe US Small/Mid Cap - Active Fund seeks to produce investment returns consistently greater than that of the Russell 2500 Index, net of management Fund will invest with US Active equity managers in funds that will trade in diversified portfolios of small and mid-cap US equities.

2 The Fund believes that the investment managers selected to manage the assets of the Active US Small/Mid Cap Fund have the ability to generate superior returns to those of the Russell 2500 Index. Active management offers the potential for both better return and risk management by having the ability to reflect stock specific factors that may affect company s outlook and performance in their portfolio holdings. The Fund invests in a mix of small and midsized equities to ideally capitalize on the higher growth rate of small firms and the more stable growth rate of mid-sized company US Small/Mid Cap - Active Fund invests with two managers, one being a US mid cap specialist, and the other will invest in US small caps.

3 The Fund looks to be equally balanced between the mid and small cap and ManagementFund Inception Date12-30-16 Expense Manager(s)Management TeamManagement CompanyChamplain Investment Partners,LLCF uller & Thaler Asset ManagementIncBenchmark Description: Russell 2500 TR USDThe index measures the performance of the small to mid-capsegment of the US equity universe. It is a subset of the Russell3000 index and includes approximately 2500 of the smallestsecurities based on the combination of their market cap andcurrent index Description: small BlendSmall-blend portfolios favor firms at the smaller end of themarket-capitalization range.

4 Some aim to own an array of valueand growth stocks while others employ a discipline that leadsto holdings with valuations and growth rates close to the small -cap averages. Stocks in the bottom 10% of the capitalization ofthe equity market are defined as small cap. The blend styleis assigned to portfolios where neither growth nor valuecharacteristics AnalysisLowModerateHighInvestmentCategor yThe volatility measure is not displayed for investments withfewer than three years of history. The category average,however, is shown Year3 Year5 Year10 YearSince InceptionFund Return % Return % Average % # of Funds in Year Total Returns201820172016201520142013201220112 0102009 Total Return % Return % Average % # of Funds in Disclosure: The performance data quoted represents past performance and does not guarantee futureresults.

5 The investment return and principal value of an investment will fluctuate; thus an investor s shares, whenredeemed, may be worth more or less than their original cost. Current Month performance may be higher or lower than return data quoted herein. For more current informationincluding month-end performance, please call 1-844-5 HEARST (1-844-543-2778) or Please refer to the performance section of the disclosure page for more Analysis as of 12-31-18 Composition as of 12-31-18% Equity Style Box as of 12-31-18% Mkt CapLargeMidSmallValue Blend 10 Holdings as of 12-31-18% AssetsRed Hat Re Group Inc Class J.

6 Gallagher & Alto Networks Trust Number of Stock Holdings197 Total Number of Bond Holdings0 Annual Turnover Ratio %.Total Fund Assets ($mil) Equity Sectors as of 12-31-18% FundS&P 500 %h Basic Consumer Financial Real Communication Consumer Risks as of 12-31-18 Inflation/Deflation, Long-Term Outlook and Projections, Loss of Money, Not FDIC Insured, Capitalization, Growth Investing,Nondiversification, Quantitative Investing, Value Investing, Active Management, High Portfolio Turnover, Index Correlation/TrackingError, Issuer, Market/Market Volatility, Equity Securities, Industry and Sector Investing, IPO.

7 Other, Restricted/Illiquid Securities,Pricing, Cash Drag, Suitability, Increase in Expenses, Multimanager, Shareholder Activity, Early Close/Late Close/Trading Halt,Management, small Cap, Mid-Cap, Sampling 2019 Morningstar, Inc., Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstarand/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its contentproviders are responsible for any damages or losses arising from any use of information.

8 Past performance is no guarantee of future performance. Visit our investmentwebsite at When used as supplemental sales literature, the InvestmentProfile must be preceded or accompanied by the fund s currentprospectus as well as this disclosure statement. Theperformance data given represents past performance andshould not be considered indicative of future results. Principalvalue and investment return will fluctuate, so that an investor sshares when redeemed may be worth more or less than theoriginal investment.

9 Fund portfolio statistics change over fund is not FDIC-insured, may lose value and is notguaranteed by a bank or other Financial institution. PerformanceTotal return reflects performance without adjusting for salescharges or the effects of taxation, but is adjusted to reflect allactual ongoing fund expenses and assumes reinvestment ofdividends and capital gains. If adjusted, sales charges wouldreduce the performance quoted. Standardized Total Return is total return adjusted for salescharges.

10 The sales charge adjusted for may not necessarily beconsistent with the prospectus. The fund s performance is compared with that of an index is an unmanaged portfolio of specified securities andthe index does not reflect any initial or ongoing expenses. Afund s portfolio may differ significantly from the securities in theindex. Expense RatioThis is the percentage of fund assets paid for operatingexpenses and management fees. The expense ratio typicallyincludes the following types of fees: accounting, administrator,advisor, auditor, board of directors, custodial, distribution(12b-1), legal, organizational, professional, registration,shareholder reporting, sub-advisor, and transfer agency.