0001392116 2022-05-02 2022-05-02 0001392116 vspt:S000008394Member vspt:CIK0001066602Member 2022-05-02 2022-05-02 0001392116 vspt:S000008395Member vspt:CIK0001066602Member 2022-05-02 2022-05-02 0001392116 vspt:S000008396Member vspt:CIK0001066602Member 2022-05-02 2022-05-02 0001392116 vspt:S000012534Member vspt:CIK0000895430Member 2022-05-02 2022-05-02 0001392116 vspt:S000017462Member vspt:CIK0001392116Member 2022-05-02 2022-05-02 0001392116 vspt:S000029692Member vspt:CIK0001066602Member 2022-05-02 2022-05-02 0001392116 vspt:S000037123Member vspt:CIK0001392116Member 2022-05-02 2022-05-02 0001392116 vspt:S000037124Member vspt:CIK0001392116Member 2022-05-02 2022-05-02 0001392116 vspt:S000037125Member vspt:CIK0001392116Member 2022-05-02 2022-05-02 0001392116 vspt:S000038555Member vspt:CIK0001066602Member 2022-05-02 2022-05-02 0001392116 vspt:S000046242Member vspt:CIK0001392116Member 2022-05-02 2022-05-02 pure iso4217:USD false 497 0001392116 N-1A 2022-05-02 2022-04-29 <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:238px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Floating Rate Fund</div><div style="padding-left:234px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya GNMA Income Fund</div><div style="padding-left:230px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya High Yield Bond Fund</div><div style="padding-left:223px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Intermediate Bond Fund</div><div style="padding-left:186px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Strategic Income Opportunities Fund</div><div style="padding-left:238px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA MUTUAL FUNDS</div><div style="padding-left:241px;margin-top:3px;margin-bottom:0px;font:13px/16px 'arial';">Voya Global Bond Fund</div><div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:176px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Corporate Debt Fund</div><div style="padding-left:163px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Hard Currency Debt Fund</div><div style="padding-left:161px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Local Currency Debt Fund</div><div style="padding-left:205px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Investment Grade Credit Fund</div><div style="padding-left:225px;margin-top:1px;margin-bottom:0px;font:13px/16px 'arial';">Voya Securitized Credit Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:238px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Floating Rate Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:234px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya GNMA Income Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:230px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya High Yield Bond Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:223px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Intermediate Bond Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:244px;font:bold 13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">VOYA FUNDS TRUST</div><div style="padding-left:186px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Strategic Income Opportunities Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:238px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA MUTUAL FUNDS</div><div style="padding-left:241px;margin-top:3px;margin-bottom:0px;font:13px/16px 'arial';">Voya Global Bond Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:176px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Corporate Debt Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:163px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Hard Currency Debt Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:205px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Investment Grade Credit Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:225px;margin-top:1px;margin-bottom:0px;font:13px/16px 'arial';">Voya Securitized Credit Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> <div style="padding-left:186px;margin-top:11px;margin-bottom:0px;font:bold 13px/16px 'arial';">VOYA SEPARATE PORTFOLIOS TRUST</div><div style="padding-left:161px;font:13px/16px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">Voya Emerging Markets Local Currency Debt Fund</div><div style="padding-left:183px;margin-top:14px;margin-bottom:0px;font:13px/16px 'arial';">(each a "Fund" and collectively the "Funds")</div><div style="padding-left:210px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Supplement dated May 2, 2022</div><div style="padding-left:198px;margin-top:3px;margin-bottom:0px;font:15px/17px 'arial';">to the Funds' current Prospectuses</div><div style="padding-right:96px;margin-top:17px;margin-bottom:0px;font:15px/19px 'arial';">On March 24, 2022, the Boards of Directors/Trustees of the Funds approved changes with respect to the Funds' principal investment strategies.</div><div style="margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">Effective on or about May 2, 2022, the Funds' Prospectuses are revised as follows:</div><div style="padding-left:30px;padding-right:96px;margin-top:16px;margin-bottom:0px;text-indent:-30px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">1.</span><span style="font:15px/19px 'arial';margin-left:13px">The section of the Prospectuses entitled "Principal Investment Strategies" is revised to include following:</span></div><div style="text-align:justify;padding-left:24px;padding-right:96px;margin-top:13px;margin-bottom:0px;font:15px/17px 'arial';">In evaluating investments for the Fund, the Sub-Adviser normally expects to take into account environmental, social, or governance ("ESG") factors, to determine whether any or all of those factors might have a significant effect on the performance, risks, or prospects of a company or issuer. The Sub-Adviser intends to rely primarily on third-party evaluations of a company's ESG standing and/or on factors identified through its proprietary research as material to a particular company or the industry in which it operates. The Sub-Adviser may give ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. The Sub-Adviser may consider specific ESG metrics or a company's progress or lack of progress toward meeting ESG targets. ESG factors will be only one consideration in the Sub- Adviser's evaluation of any potential investment, and the effect, if any, of ESG factors on the Sub-Adviser's decision whether to invest in any case will vary depending on the judgment of the Sub-Adviser.</div><div style="padding-left:24px;padding-right:96px;margin-top:15px;margin-bottom:0px;text-indent:-24px;font:15px/19px 'arial';"><span style="font:15px/17px 'arial'">2.</span><span style="font:15px/19px 'arial';margin-left:12px">The section of the Prospectuses entitled "Principal Risks" is revised to include the following risk:</span></div><div style="text-align:justify;padding-left:24px;padding-right:91px;margin-top:12px;margin-bottom:0px;font:bold 14px/18px 'arial';">Environmental, Social and/or Governance (strategy): <span style="font:14px/18px 'arial'">The Sub-Adviser's consideration of environmental, social and/or governance ("ESG") factors in selecting investments for the Fund may cause it to forego other favorable investments that other investors who do not consider similar factors or who evaluate them differently might select. This may cause the Fund to underperform the stock market or relevant benchmark as a whole or other funds that do not consider ESG factors or that use such factors differently. The Sub-Adviser's consideration of</span></div><div style="text-align:justify;padding-right:96px;font:15px/17px 'arial';margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;">ESG factors is qualitative and subjective by nature, and it is possible that it will have an adverse effect on the Fund's performance. In evaluating a company or issuer in light of ESG factors, the Sub-Adviser may consider information and data obtained through voluntary or third-party reporting that may be incomplete or inaccurate. It is possible the companies or issuers identified through the Sub-Adviser's consideration of ESG factors will not operate as expected and will not exhibit positive ESG characteristics to the extent the Sub-Adviser might have anticipated.</div> VOYA SEPARATE PORTFOLIOS TRUST 2022-05-02 2022-05-02