Summary

• For the quarter, Voya MidCap Opportunities Fund underperformed the Index on a NAV basis due largely to unfavorable stock selection.
• Heightened geopolitical risks and changing economic expectations pushed U.S. equity markets lower during the first quarter of 2026.
• Despite the overall weakness, markets remained largely range bound for much of the quarter, with volatility occurring more beneath the surface than at the broad market level.

Strategy overview

Actively managed mid-cap growth strategy that relies on fundamental research and analysis to identify companies exhibiting superior capital investment and core profitability with attractive risk-reward profiles.

Key takeaways

• Equity markets declined in