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OPECX

Capital Income Fund

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Overview

The Strategy typically invests in stocks, bonds, and other uncorrelated financial instruments for additional diversification.

Inception Date
November 1, 1995
Investment Style
Income-Oriented Balanced
Fund Index
65% BBG Barc US Agg/35% Russell 3000®
CUSIP
683793301
NAV
  • B
(as of 03/18/2019)
$9.76
Total Assets
(as of 02/28/2019)
$2.32 BN
Gross Expense Ratio
(as of 02/28/2019)
1.82%
Net Expense Ratio
(as of 02/28/2019)
1.77%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 02/28/2019
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (NAV)
-4.83% -4.83% 2.46% 1.95% 5.80% 4.52%
65% BBG Barc US Agg/35% Russell 3000®
-1.51% -1.51% 4.67% 4.63% 7.19% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (with sales charge)
-5.76% -5.76% 2.46% 1.95% 5.80% 4.52%
65% BBG Barc US Agg/35% Russell 3000®
-1.51% -1.51% 4.67% 4.63% 7.19% -
Cumulative
Annualized
ytd as of 2019-02-28
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (NAV)
4.76% 0.51% 4.45% 2.56% 7.64% 4.70%
65% BBG Barc US Agg/35% Russell 3000®
4.91% 4.17% 6.56% 5.25% 8.51% -
Cumulative
Annualized
ytd as of 2019-02-28
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (with sales charge)
3.76% -0.48% 4.45% 2.56% 7.64% 4.70%
65% BBG Barc US Agg/35% Russell 3000®
4.91% 4.17% 6.56% 5.25% 8.51% -
Gross Expense Ratio: 1.82% | Net Expense Ratio: 1.77%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000®
1996 18.92% 9.81%
1997 28.74% 17.18%
1998 9.43% 14.59%
1999 -7.03% 6.51%
2000 15.99% 4.86%
2001 -1.00% 1.58%
2002 -16.79% -1.47%
2003 32.38% 13.29%
2004 9.36% 7.12%
2005 1.67% 3.85%
2006 14.09% 8.32%
2007 -2.61% 6.70%
2008 -37.52% -10.32%
2009 16.99% 14.42%
2010 10.70% 10.59%
2011 3.29% 6.26%
2012 10.24% 8.59%
2013 8.19% 9.38%
2014 3.97% 8.43%
2015 -1.52% 0.85%
2016 6.46% 6.34%
2017 6.18% 9.48%
2018 -4.83% -1.51%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Capital Income Fund 65% Bloomberg Barclays Agg/35% Russell 3000 BBG Barclays Agg S&P 500
2/28/2009 0.00 0.00 0.00 0.00
3/31/2009 4.93 4.17 1.39 8.76
4/30/2009 11.22 8.34 1.88 19.17
5/31/2009 15.48 10.93 2.61 25.83
6/30/2009 17.01 11.53 3.20 26.08
7/31/2009 21.60 15.76 4.86 35.62
8/31/2009 24.66 18.02 5.95 40.52
9/30/2009 27.89 20.57 7.06 45.76
10/31/2009 28.23 19.93 7.59 43.05
11/30/2009 31.12 23.33 8.98 51.63
12/31/2009 32.71 23.31 7.28 54.56
1/31/2010 32.20 22.97 8.92 49.00
2/28/2010 33.22 24.76 9.32 53.62
3/31/2010 37.27 27.36 9.19 62.89
4/30/2010 38.47 29.22 10.33 65.46
5/31/2010 34.88 26.39 11.25 52.25
6/30/2010 33.23 25.16 13.00 44.28
7/31/2010 37.36 29.08 14.21 54.39
8/31/2010 37.36 28.03 15.67 47.42
9/30/2010 41.57 32.28 15.80 60.57
10/31/2010 44.16 34.40 16.21 66.68
11/30/2010 44.16 34.19 15.54 66.70
12/31/2010 46.90 36.37 14.30 77.84
1/31/2011 49.02 37.53 14.43 82.06
2/28/2011 51.67 39.51 14.72 88.30
3/31/2011 52.64 39.83 14.78 88.37
4/30/2011 55.66 42.45 16.24 93.95
5/31/2011 56.02 43.10 17.75 91.76
6/30/2011 54.31 41.98 17.41 88.56
7/31/2011 54.31 42.32 19.27 84.72
8/31/2011 51.10 40.98 21.01 74.69
9/30/2011 47.59 37.85 21.89 62.41
10/31/2011 52.25 43.48 22.03 80.16
11/30/2011 50.64 43.41 21.92 79.76
12/31/2011 51.75 44.91 23.26 81.60
1/31/2012 55.03 48.28 24.34 89.74
2/29/2012 57.40 50.44 24.31 97.94
3/31/2012 58.59 51.54 23.63 104.46
4/30/2012 59.32 52.31 25.00 103.17
5/31/2012 58.77 49.86 26.13 90.96
6/30/2012 60.69 52.00 26.18 98.83
7/31/2012 63.46 53.93 27.92 101.59
8/31/2012 64.56 55.35 28.01 106.13
9/30/2012 66.66 56.92 28.18 111.46
10/31/2012 66.48 56.19 28.44 107.56
11/30/2012 66.85 56.81 28.64 108.76
12/31/2012 67.27 57.36 28.45 110.66
1/31/2013 70.10 59.62 27.56 121.57
2/28/2013 70.85 60.91 28.20 124.58
3/31/2013 72.66 63.18 28.30 133.00
4/30/2013 74.93 65.23 29.60 137.49
5/31/2013 74.37 64.67 27.28 143.05
6/30/2013 71.63 62.30 25.32 139.79
7/31/2013 73.72 65.52 25.49 151.99
8/31/2013 71.82 63.37 24.84 144.69
9/30/2013 73.65 66.50 26.03 152.36
10/31/2013 76.71 69.86 27.05 163.96
11/30/2013 78.62 71.17 26.57 172.01
12/31/2013 80.98 72.12 25.86 178.89
1/31/2014 80.59 71.86 27.71 169.25
2/28/2014 84.07 75.30 28.39 181.57
3/31/2014 84.60 75.46 28.17 183.93
4/30/2014 85.37 76.53 29.26 186.03
5/31/2014 87.70 79.20 30.73 192.75
6/30/2014 88.97 80.83 30.80 198.79
7/31/2014 87.21 79.31 30.47 194.67
8/31/2014 90.14 83.22 31.91 206.46
9/30/2014 87.50 81.09 31.01 202.16
10/31/2014 88.28 84.06 32.30 209.54
11/30/2014 89.07 86.47 33.24 217.87
12/31/2014 88.16 86.63 33.36 217.07
1/31/2015 88.96 87.37 36.16 207.55
2/28/2015 91.33 89.95 34.88 225.23
3/31/2015 91.26 89.88 35.51 220.08
4/30/2015 91.26 89.75 35.02 223.15
5/31/2015 91.66 90.39 34.69 227.31
6/30/2015 89.15 87.96 33.23 220.97
7/31/2015 90.75 89.95 34.15 227.70
8/31/2015 86.55 85.81 33.96 207.93
9/30/2015 85.22 84.80 34.87 200.31
10/31/2015 89.04 89.85 34.89 225.64
11/30/2015 87.83 89.92 34.53 226.61
12/31/2015 85.30 88.22 34.10 221.46
1/31/2016 83.27 86.18 35.94 205.50
2/29/2016 83.27 87.09 36.91 205.09
3/31/2016 87.45 92.78 38.16 225.79
4/30/2016 89.08 93.70 38.69 227.05
5/31/2016 91.11 94.97 38.73 232.93
6/30/2016 93.05 97.47 41.22 233.79
7/31/2016 95.10 101.02 42.11 246.09
8/31/2016 94.89 101.06 41.95 246.58
9/30/2016 95.18 101.13 41.87 246.65
10/31/2016 94.36 98.61 40.78 240.32
11/30/2016 95.39 98.60 37.45 252.93
12/31/2016 97.27 100.15 37.65 259.90
1/31/2017 98.30 101.73 37.92 266.73
2/28/2017 102.03 105.23 38.84 281.29
3/31/2017 101.09 105.23 38.77 281.73
4/30/2017 102.33 107.03 39.84 285.65
5/31/2017 103.58 108.83 40.92 291.08
6/30/2017 103.42 109.37 40.78 293.52
7/31/2017 104.68 111.34 41.38 301.61
8/31/2017 104.89 112.73 42.65 302.84
9/30/2017 106.20 113.88 41.97 311.15
10/31/2017 106.62 115.59 42.05 320.75
11/30/2017 108.72 117.69 41.87 333.65
12/31/2017 109.45 119.11 42.52 338.47
1/31/2018 111.99 121.44 40.88 363.58
2/28/2018 107.76 117.32 39.55 346.49
3/31/2018 106.38 116.77 40.44 335.15
4/30/2018 105.74 116.07 39.40 336.82
5/31/2018 106.59 119.23 40.39 347.33
6/30/2018 106.20 119.58 40.22 350.09
7/31/2018 110.04 122.15 40.25 366.84
8/31/2018 111.53 125.81 41.15 382.05
9/30/2018 111.99 125.00 40.24 384.79
10/31/2018 107.07 118.06 39.14 351.66
11/30/2018 106.86 120.50 39.97 360.86
12/31/2018 99.34 115.81 42.54 319.25
1/31/2019 106.24 123.74 44.05 352.85
2/28/2019 108.82 126.39 43.97 367.39
Date Dividends
12/30/2009 0.0234
3/22/2010 0.0274
6/28/2010 0.0444
9/27/2010 0.044
12/29/2010 0.1678
3/28/2011 0.045
6/27/2011 0.0435
9/26/2011 0.0434
12/21/2011 0.1411
3/26/2012 0.0451
6/25/2012 0.0443
9/24/2012 0.0442
12/10/2012 0.1526
3/25/2013 0.046
6/24/2013 0.0454
9/23/2013 0.0461
12/30/2013 0.1032
3/24/2014 0.0468
6/23/2014 0.0449
9/22/2014 0.0453
12/29/2014 0.1043
3/20/2015 0.0464
6/19/2015 0.0444
9/25/2015 0.0436
12/15/2015 0.0741
3/24/2016 0.0458
6/24/2016 0.0445
9/23/2016 0.044
12/13/2016 0.0616
3/24/2017 0.0444
6/23/2017 0.0426
9/22/2017 0.0431
12/12/2017 0.0647
3/23/2018 0.0439
6/22/2018 0.042
9/21/2018 0.0418
12/11/2018 0.07

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 03/18/2019

Date 2014 2015 2016 2017 2018
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(11.8% of assets as of 02/28/2019)


Portfolio Allocation

(91.5% of assets as of 02/28/2019)


High Grade Fixed Income Strategy Equity Strategy Opportunistic Strategy
40.2% 36.7% 14.6%

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Fixed Income Sector
Country Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
United States 94.4% - -
Germany 2.3% - -
United Kingdom 1.8% - -
Ireland 1.0% - -
Switzerland 1.0% - -
Canada 1.0% - -
Bermuda 0.9% - -
Russia 0.7% - -
Netherlands 0.6% - -
Taiwan 0.4% - -
Supranational (non-iso) 0.2% - -
Peru 0.2% - -
Luxembourg 0.2% - -
Jamaica 0.1% - -
Portugal 0.1% - -
Australia 0.1% - -
Hong Kong 0.1% - -
Cayman Islands 0.1% - -
Belgium 0.1% - -
Developed Markets Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Americas 96.4% - -
Europe 3.9% - -
Supranational 0.2% - -
Asia Pacific -0.1% - -
Emerging Markets Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Europe 0.7% - -
Americas -0.3% - -
Asia Pacific -5.4% - -
Equity Sector Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Financials 7.6% - -
Health Care 5.2% - -
Industrials 4.4% - -
Broad Market 4.3% - -
Information Technology 3.8% - -
Energy 3.0% - -
Consumer Staples 2.8% - -
Communication Services 2.1% - -
Materials 1.8% - -
Utilities 1.6% - -
Consumer Discretionary 1.6% - -
Fixed Income Sector Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Corporates 36.0% - -
Agencies MBS 12.5% - -
ABS 10.6% - -
Non Agencies MBS 4.7% - -
CMBS 2.8% - -
Catastrophe 1.3% - -
Agencies -3.6% - -
Treasuries -8.0% - -
Analytics
(As of 02/28/2019)

Morningstar 02/28/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
474
Category
Allocation--30% to 50% Equity
Performance Statistics
3Y
5Y
Alpha
-1.48
-2.09
Beta
0.90
0.88
Information Ratio
-1.12
-1.63
R-Squared
82.46
85.36
Sharpe Ratio
0.74
0.45
Standard Deviation
4.34
4.09
Sortino Ratio
1.08
0.65
Tracking Error
1.90
1.65
Yields
Standardized Yield
2.21%
Unsubsidized Yield
2.16%
Portfolio Characteristics
Fund
Fund Index
Return on Equity
18.27%
19.49%
EPS Growth Rate 3Y
4.84%
10.64%
EPS Growth Rate 5Y
3.81%
8.87%
Sales Growth Rate 3Y
5.96%
8.28%
Sales Growth Rate 5Y
3.70%
6.61%
Yield to Maturity
3.41%
2.08%
Yield to Worst
3.13%
2.07%
Current Duration
1.80 yrs
3.80 yrs
Turnover Ratio
88%
-
Dividends
  • E
Est. Frequency
Quarterly
Last Pay Date
12/11/2018
Per Share ($)
$0.0700
12-Month Distribution ($)
$0.1977
Distribution Sources
  • E
Net Income
67.60%
Net Profit from Sale
0.00%
Other Capital Sources
32.40%
Team
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. The Fund's investment objective changed from "seeks as much current income as is compatible with prudent investment" to "seeks total return" on 12/28/12.
  2. 2. Effective 11/1/13, the Fund increased its investment limit on below-investment-grade securities from 25% to 40%, and the Fund increased its investment limit on illiquid securities from 10% to 15%. Please see the Fund's prospectus and prospectus supplement for further information.
  3. 3. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mortgage-backed securities are subject to prepayment risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Asset-backed securities are subject to prepayment risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  4. 4. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  5. 5. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less.  These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  6. 6. The index returns are made up of the returns of 35% Russell 3000® Index and 65% Bloomberg Barclays U.S. Aggregate Bond Index. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies, representing approximately 98% of the investable U.S. equity market. The Bloomberg Barclays U.S. Aggregate Bond Index is an index of U.S dollar-denominated, investment-grade U.S. corporate government and mortgage-backed securities. The indices are unmanaged and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  7. 7. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  9. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  10. B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  11. C. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  12. D. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  13. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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