VOYA STRATEGIC INCOME OPPORTUNITIES FUND
Actively managed U.S. bond fund
As of its 2026 Q2 report, VOYA STRATEGIC INCOME OPPORTUNITIES FUND held 1,582 positions with $2.05B in net assets. Its ten largest holdings made up 17.3% of the fund. The ISIAX share class costs 0.87% a year. Over the 12 months to May 2026, ISIAX returned 4.9%, with dividends reinvested. In 2026 Q2 it added 264 new positions and exited 240.
The Fund seeks total return through income and capital appreciation through all market cycles.
The fund is managed by a sub-adviser that evaluates debt instruments across investment grades and below-investment-grade securities, floating rate loans, and derivatives, considering environmental, social, and governance factors alongside traditional credit and market analysis to seek positive returns across market cycles. The sub-adviser maintains a dollar-weighted average duration between −2 and 6 years, meaning the fund's sensitivity to interest rate moves will vary within that range. Because security selection depends on the sub-adviser's analysis and judgment of material factors affecting each investment, fund performance will diverge from any benchmark.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 6.50% · due 2056-05-15 | 2.38% | $48.66M | — |
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 6.50% · due 2056-06-15 | 2.36% | $48.40M | — |
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 6.50% · due 2056-07-15 | 2.36% | $48.39M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.50% · due 2056-06-15 | 2.13% | $43.63M | — |
Government National Mortgage Association 6.50% · due 2055-09-20 | 1.97% | $40.28M | — |
FEDERAL HOME LOAN MORTGAGE CORP 5.23% floating · due 2055-02-25 | 1.52% | $31.06M | — |
UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO 8.50% · due 2038-11-18 | 1.23% | $25.11M | — |
POLAND, REPUBLIC OF - STATE TREASURY 5.00% · due 2035-10-25 | 1.19% | $24.40M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.50% · due 2056-06-15 | 1.09% | $22.42M | — |
Government National Mortgage Association 6.50% · due 2055-02-20 | 1.06% | $21.78M | — |
The 200 largest of 1,582 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Securitized | 54.47% |
| Bonds | 34.09% |
| Loans | 8.40% |
| Cash & short-term | 2.63% |
| Derivatives | 0.83% |
Derivatives are shown at market value, not notional exposure.
By sector
- Securitized
- 59.7%
- Other
- 17.6%
- Government
- 5.6%
- International
- 3.8%
- 12 other sectors
- 13.2%
- Securitized
- 59.7%
- Other
- 17.6%
- Government
- 5.6%
- International
- 3.8%
- Financials
- 3.7%
- Cash
- 1.7%
- Consumer Discretionary
- 1.3%
- Information Technology
- 1.2%
- Health Care
- 1.0%
- Utilities
- 0.9%
- Industrials
- 0.9%
- Materials
- 0.8%
- Energy
- 0.7%
- Communication Services
- 0.6%
- Consumer Staples
- 0.4%
- Real Estate
- 0.0%
How it has done
ISIAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.00%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.87% | +4.91% | +20.82% | +14.07% | -1.35% | |
| 1.62% | +3.98% | +18.06% | +9.94% | -1.50% | |
| 0.62% | +5.14% | +21.68% | +15.41% | -1.42% | |
| 1.12% | +4.55% | +19.86% | +12.60% | -1.41% | |
| 0.62% | +5.16% | +21.72% | +15.46% | -1.32% | |
| 0.55% | +5.19% | +21.94% | +15.77% | -1.30% |
These classes hold the same portfolio, so the 5.83pp spread over 5 years is the cost difference between them — roughly 1.17pp a year — not a difference in what they own.
Fees & fund details
VOYA STRATEGIC INCOME OPPORTUNITIES FUND is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.55% – 1.62%· ISIAX 0.87%
- Portfolio turnover
- 283.00% a year · as of 2025 Q3
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
264 new· the largest 6
240 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 59.6% |
| Floating rate | 38.8% |
| Zero-coupon or unclassified | 1.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.6% |
| 1-3y | 13.0% |
| 3-5y | 7.7% |
| 5-10y | 14.1% |
| 10y+ | 63.1% |
| Unknown | 0.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 62% |
| Credit spreads | 38% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.36 yr |
| High yield | +0.97 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.06 yr | 1% |
| 1 yr | 1.86 yr | 47% |
| 5 yr | 1.62 yr | 41% |
| 10 yr | 0.38 yr | 10% |
30 yr is NEGATIVE (-0.02 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 1 yr | 0.63 yr | 27% |
| 5 yr | 1.44 yr | 61% |
| 10 yr | 0.26 yr | 11% |
| 30 yr | 0.02 yr | 1% |
3 mo is NEGATIVE (-0.01 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.06 | -0.01 | +0.01 | -$2.8k | $1.3k |
| 1 yr | +1.86 | +0.29 | +0.34 | $59.4k | $69.5k |
| 5 yr | +1.62 | +0.92 | +0.52 | $187.4k | $106.4k |
| 10 yr | +0.38 | +0.16 | +0.10 | $32.4k | $19.9k |
| 30 yr | -0.02 | +0.01 | +0.01 | $2.3k | $1.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 3.89 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Understand how this fund fits with the rest.
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