VY® T. Rowe Price Capital Appreciation Portfolio - Institutional Class Release Date

03-31-18..........................................................................................................................................................................................................................................................................................................................................CategoryAllocation--50% to 70% Equity

Investment Objective & StrategyFrom the investment's prospectus

The investment seeks over the long-term, a high total investment return, consistent with the preservation of capital and with prudent investment risk. Under normal market conditions, the Portfolio pursues an active asset allocation strategy whereby investments are allocated among three asset classes: equity securities, debt instruments, and money market instruments. The Portfolio invests at least 50% of its total assets in common stocks. It may invest up to 15% of its total net assets in Rule 144A securities. Past name(s) : VY T. Rowe Price Capital Appreciation I.

Volatility and RiskVolatility as of 03-31-18

Low Moderate High

Investment

Category

Risk Measures as of 03-31-18 Port Avg Rel S&P 500 Rel Cat3 Yr Std Dev 6.70 0.65 0.943 Yr Beta 0.97 . 0.93

Principal RisksLending, Credit and Counterparty, Extension, Prepayment (Call),Currency, Foreign Securities, Loss of Money, Not FDIC Insured,Capitalization, Value Investing, Issuer, Interest Rate, Market/Market Volatility, Convertible Securities, High-Yield Securities,Mortgage-Backed and Asset-Backed Securities, RepurchaseAgreements, Restricted/Illiquid Securities, Underlying Fund/Fund of Funds, U.S. Government Obligations, Derivatives,Management, Financials Sector

Important InformationMorningstar Investment Profiles must be accompaniedby Morningstar Disclosure and Glossary.

Funds or their affiliates may pay compensation to Voya®affiliates offering a fund. Such compensation may be paid outof distribution, service and/or 12b-1 fees that are deducted fromthe fund's assets, and/or may be paid directly by the fund'saffiliates. Any fees deducted from fund assets are discussed inthe fund's prospectus and disclosed in the fund fact sheet.Because these fees are paid on an on-going basis, over timethese fees will increase the cost of your investment and maycost you more than paying other types of sales charges. Ifoffered through a retirement program, additional fees andexpenses may be charged under that program. NOT A DEPOSIT.NOT FDIC INSURED. NOT INSURED BY ANY FEDERALGOVERNMENT AGENCY. NOT GUARANTEED BY THEINSTITUTION. MAY GO DOWN IN VALUE.

Portfolio AnalysisComposition as of 12-31-17 % Assets

U.S. Stocks 60.5Non-U.S. Stocks 4.7Bonds 22.8Cash 0.8Other 11.3

Morningstar Style Box™ as of 12-31-17(EQ) ; 12-31-17(F-I)

LargeM

idSm

all

Value Blend Growth

HighM

edLow

Ltd Mod Ext

Top 10 Holdings as of 12-31-17 % Assets

Reserve Invt Fds 7.95Visa Inc Class A 3.50Marsh & McLennan Companies Inc 2.96Fiserv Inc 2.92Alphabet Inc C 2.69.......................................................................................................Danaher Corp 2.69US Treasury Note 2.25% 11-15-27 2.43Microsoft Corp 2.29Amazon.com Inc 2.25Becton, Dickinson and Co 2.21

Credit Analysis: % Bonds as of 12-31-17

AAA 13 BB 23AA 3 B 26A 11 Below B 2BBB 22 Not Rated 0

Morningstar Super Sectors as of 12-31-17 % Fund

h Cyclical 32.60j Sensitive 29.76k Defensive 37.63

Morningstar F-I Sectors as of 12-31-17 % Fund

⁄ Government 8.96› Corporate 86.83€ Securitized 1.43‹ Municipal 0.00fi Cash/Cash Equivalents 2.78± Other 0.00

OperationsGross Prosp Exp Ratio 0.64% of fund assetsNet Prosp Exp Ratio 0.64% of fund assetsManagement Fee 0.64%12b-1 Fee .Other Fee .Miscellaneous Fee(s) 0.00%Fund Inception Date 05-02-03Total Fund Assets ($mil) 6,272.2Annual Turnover Ratio % 61.00Fund Family Name Voya

Waiver Data Type Exp. Date %

. . . .

Portfolio Manager(s)

David Giroux, CFA. Since 2006.................................................................................................Advisor Voya Investments, LLCSubadvisor T. Rowe Price Associates, Inc.

Notes

©2018 Morningstar, Inc., Morningstar Investment Profiles™ 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) maynot be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any useof information. Past performance is no guarantee of future performance. Visit our investment website at www.morningstar.com.

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