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Voya Inflation Protected Bond Plus A Overview

Voya Inflation Protected Bond Plus A (IPBDX) is an actively managed Taxable Bond Inflation-Protected Bond fund. Voya launched the fund in 2026.

The investment seeks to maximize real return, consistent with preservation of real capital and prudent investment management. Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. Inflation-indexed bonds are debt instruments that are structured to provide protection against inflation.

About Voya Inflation Protected Bond Plus A (IPBDX)

There are 4 members of the management team with an average tenure of 1.04 years: Rajen Jadav (2026), Sean Banai (2024), Anuranjan Sharma (2024), Vinay Viralam (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Treasury US TIPS TR USD index with a weighting of 100%. Voya Inflation Protected Bond Plus A has 350 securities in its portfolio. The top 10 holdings constitute 50.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Voya Inflation Protected Bond Plus A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Voya Inflation Protected Bond Plus A has 4.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 52.7% (48.8% domestic bond, 4.0% foreign bond and 0.0% convertible bond). Voya Inflation Protected Bond Plus A has 47.3% of the portfolio in cash.

Assets Under Management

The fund has $2 million in total assets, which is below the $869 million average for the Inflation-Protected Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

IPBDX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Voya Inflation Protected Bond Plus A expense ratio is above average compared to funds in the Inflation-Protected Bond category. Voya Inflation Protected Bond Plus A has an expense ratio of 0.70%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Voya Inflation Protected Bond Plus A has a portfolio turnover rate of 80%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 72% for the Inflation-Protected Bond category.

Recently, in the month of July 2026, Voya Inflation Protected Bond Plus A returned -0.5%, which earned it a grade of A, as the Inflation-Protected Bond category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Voya Inflation Protected Bond Plus A has a trailing yield of 0.00%, which is below the 4.20% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Voya Inflation Protected Bond Plus A Grades

Year to date, the fund has returned 1.3%, 1.1 percentage points better than the category, which translates into a grade of A. The fund has returned 3.3% over the past year (grade of A), 3.9% over the past three years (grade of B) and 0.2% per year over the past five years (grade of B) and 2.1% per year over the past 10 years (grade of C).

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