Voya Global Advantage and Premium Opportunity Fund: A High-Yield Investment Opportunity

The Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) is an attractive investment option for income-oriented investors, offering a high level of income with capital appreciation as a secondary objective. With an annualized current distribution rate of 9.73% based on its net asset value (NAV) as of November 29, 2024, the fund provides a steady income stream while maintaining a strong performance track record.



Investment Strategy
IGA invests in global equities, providing exposure to diverse markets and sectors. The fund's portfolio is well-diversified, with top holdings including UnitedHealth Group, Johnson & Johnson, AbbVie, PepsiCo, and Philip Morris International, among others. As of August 31, 2024, the fund's sector weightings were heavily tilted towards Financials (22.94%), Health Care (14.23%), and Industrials (13.89%), which have historically performed well.

The fund's strategy of selling call options on selected security indexes and/or ETFs, on an amount equal to approximately 50-100% of the value of the Fund’s common stock holdings, generates additional income through option premiums. This strategy contributes to the fund's overall performance and helps manage risk by capping the upside potential of the underlying securities.



Performance Metrics
The fund's average annual total return at NAV for the five-year period ended on November 29, 2024, was 7.49%. Its cumulative total return at NAV for the fiscal year through November 29, 2024, was 14.43%. The fund's cumulative fiscal year to date distribution rate as a percentage of NAV as of November 29, 2024, was 8.37%.



Dividend Payments
IGA pays monthly dividends, providing a steady income stream to investors. The fund's dividend yield, as of September 13, 2024, was 9.73% based on its net asset value (NAV). The current distribution amount per common share is $0.085, payable on January 15, 2025.



Investment Team
The fund's investment team is experienced and well-positioned to manage its portfolio effectively. The team's expertise in global equities, option strategies, and risk management contributes to the fund's strong performance track record.

Conclusion
The Voya Global Advantage and Premium Opportunity Fund (NYSE: IGA) is an attractive investment option for income-oriented investors, offering a high level of income with capital appreciation as a secondary objective. With its diversified portfolio, strong performance track record, and experienced investment team, IGA is well-positioned to continue generating attractive returns for investors. The fund's current distribution amount per common share of $0.085, payable on January 15, 2025, underscores its commitment to providing a steady income stream to shareholders.