Fund Evaluator:

Voya High Yield Port S2 Overview

Voya High Yield Port S2 (IPYSX) is an actively managed Taxable Bond High Yield Bond fund. Voya launched the fund in 2006.

The investment seeks to provide investors with a high level of current income and total return. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of high-yield bonds. For purposes of this 80% policy, high-yield bonds include, without limitation, bonds, debt instruments, and other fixed income and income-producing debt instruments, of any kind, issued or guaranteed by governmental or private-sector entities that are rated below investment grade by one or more NRSRO or, if unrated, determined by the fund to be of comparable quality.

About Voya High Yield Port S2 (IPYSX)

There are 3 members of the management team with an average tenure of 1.08 years: David Oberto (2025), Ethan Turner (2025), Justin Kass (2025). 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 ICE BofA US High Yield TR USD index with a weighting of 100%. Voya High Yield Port S2 has 124 securities in its portfolio. The top 10 holdings constitute 16.4% 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 High Yield Port S2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Voya High Yield Port S2 has 6.3% 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 95.7% (89.4% domestic bond, 6.3% foreign bond and 1.2% convertible bond). Voya High Yield Port S2 has 3.1% of the portfolio in cash.

Assets Under Management

The fund has $1 million in total assets, which is below the $545 million average for the High Yield 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.

IPYSX 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 High Yield Port S2 expense ratio is high compared to funds in the High Yield Bond category. Voya High Yield Port S2 has an expense ratio of 0.90%, which is 2% 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 High Yield Port S2 has a portfolio turnover rate of 147%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 72% for the High Yield Bond category.

Recently, in the month of July 2026, Voya High Yield Port S2 returned -0.5%, which earned it a grade of D, as the High Yield Bond category had an average return of -0.3%. 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 High Yield Port S2 has a trailing yield of 5.51%, which is below the 6.28% 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 High Yield Port S2 Grades

Year to date, the fund has returned 1.0%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.5% over the past year (grade of D), 7.2% over the past three years (grade of D) and 3.0% per year over the past five years (grade of F) and 4.5% per year over the past 10 years (grade of D).

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