SECOND AMENDMENT TO SUB-ADVISORY AGREEMENT VOYA MUTUAL FUNDS

(d)(2)(iii)

SECOND AMENDMENT TO SUB-ADVISORY AGREEMENT

VOYA MUTUAL FUNDS

This Second Amendment, dated May 1, 2018, amends the Sub-Advisory Agreement (the “Agreement”), dated November 18, 2014, between Voya Investments, LLC, an Arizona limited liability company (the “Manager”), and Voya Investment Management Co. LLC, a Delaware limited liability company (the “Sub-Adviser”).

W I T N E S S E T H

WHEREAS, the parties desire to amend the Agreement and agree that the amendment will be effective as of May 1, 2018.

NOW, THEREFORE, the parties agree as follows:

1. The Amended Schedule A of the Agreement is hereby deleted and replaced with the Amended Schedule A attached hereto in order to modify the Annual Sub-Advisory Fee for Voya Global Equity Fund.

2. Capitalized terms used in this Amendment and not otherwise defined shall have the meanings ascribed to them in the Agreement.

3. In all other respects, the Agreement is hereby confirmed and remains in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed as of the day and year first above written.

	VOYA INVESTMENTS, LLC
	By:	/s/ Xxxx Xxxxx
		Xxxx Xxxxx
		Senior Vice President
	VOYA INVESTMENT MANAGEMENT CO. LLC
	By:	/s/ Xxxxxxxxxxx Xxxxx
	Name:	Xxxxxxxxxxx Xxxxx
	Title:	Vice President Finance

2

AMENDED SCHEDULE A

with respect to the

SUB-ADVISORY AGREEMENT

between

VOYA INVESTMENTS, LLC

and

VOYA INVESTMENT MANAGEMENT CO. LLC

Series		Effective Date		Annual Sub-Advisory Fee (as a percentage of average daily assets allocated to the Sub-Adviser)
Voya Diversified Emerging Markets Debt Fund		November 18, 2014		0.3150%
Voya Global Bond Fund		November 18, 2014		0.1800%
Voya Global Corporate Leaders® 100 Fund		December 5, 2016		0.2300%
Voya Global Equity Dividend Fund		November 18, 2014		0.3150%
Voya Global Equity Fund		May 1, 2018		0.2300%
Voya Global Perspectives® Fund		November 18, 2014		Direct Investments(1) 0.1350% Underlying Funds(2) 0.0450%

(1) “Direct Investments” shall mean assets which are not Underlying Funds.

(2) “Underlying Funds” shall mean open-end investment companies registered under the 1940 Act within the Voya family of funds.  The phrase “family of funds” shall have the same meaning as “fund complex” as defined in Item 17 of Form N-1A, as it was in effect on November 18, 2014.

3

Series		Effective Date		Annual Sub-Advisory Fee (as a percentage of average daily assets allocated to the Sub-Adviser)
Voya International High Dividend Low Volatility Fund (formerly, Voya Global High Dividend Low Volatility Fund)		December 5, 2016		0.2300%
Voya Multi-Manager International Factors Fund (formerly, Voya International Core Fund)		Close of business on January 20, 2017		0.2930% on all assets
Voya Russia Fund		November 18, 2014		0.5625%

4