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ODVNX

Developing Markets Fund

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Special Notice

As of 4/12/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

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Overview

The Strategy typically invests in emerging and developing market stocks.

Inception Date
March 1, 2001
Investment Style
Developing Markets
Fund Index
MSCI Emerging Markets Index
CUSIP
683974406
NAV
  • B
(as of 03/21/2019)
$41.44
Total Assets
(as of 02/28/2019)
$39.89 BN
Gross Expense Ratio
(as of 02/28/2019)
1.55%
Net Expense Ratio
(as of 02/28/2019)
1.55%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 02/28/2019
  • H
as of 12/31/2018
  • H

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • H
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-12.39% -12.39% 7.89% 0.45% 9.53% 10.24%
MSCI Emerging Markets Index
-14.57% -14.57% 9.25% 1.65% 8.02% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-12.39% -12.39% 7.89% 0.45% 9.53% 10.24%
MSCI Emerging Markets Index
-14.57% -14.57% 9.25% 1.65% 8.02% -
Cumulative
Annualized
ytd as of 2019-02-28
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
10.68% -5.69% 14.35% 3.27% 12.16% 10.77%
MSCI Emerging Markets Index
9.00% -9.89% 15.04% 4.13% 10.32% -
Cumulative
Annualized
ytd as of 2019-02-28
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
10.68% -5.69% 14.35% 3.27% 12.16% 10.77%
MSCI Emerging Markets Index
9.00% -9.89% 15.04% 4.13% 10.32% -
Gross Expense Ratio: 1.55% | Net Expense Ratio: 1.55%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Year Developing Markets Fund MSCI Emerging Markets Index
2002 -1.71% -6.17%
2003 64.71% 55.82%
2004 32.54% 25.55%
2005 40.72% 34.00%
2006 24.70% 32.17%
2007 33.27% 39.53%
2008 -48.22% -53.33%
2009 81.16% 78.51%
2010 26.48% 18.88%
2011 -18.41% -18.42%
2012 20.46% 18.22%
2013 7.95% -2.60%
2014 -5.02% -2.19%
2015 -14.26% -14.92%
2016 6.61% 11.19%
2017 34.47% 37.28%
2018 -12.39% -14.57%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Date Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
2/28/2009 0.00 0.00 0.00 0.00
3/31/2009 14.12 14.37 6.34 7.54
4/30/2009 34.22 33.40 19.95 19.60
5/31/2009 58.21 56.20 34.14 30.44
6/30/2009 57.78 54.09 33.38 29.85
7/31/2009 74.28 71.42 45.56 40.85
8/31/2009 75.65 70.81 53.47 46.66
9/30/2009 90.49 86.31 59.35 52.51
10/31/2009 89.19 86.54 57.36 49.79
11/30/2009 100.50 94.55 60.51 55.92
12/31/2009 108.05 102.24 62.82 58.72
1/31/2010 96.47 90.96 55.65 52.16
2/28/2010 98.86 91.63 54.58 54.30
3/31/2010 114.05 107.10 64.23 63.86
4/30/2010 116.66 109.61 61.26 63.88
5/31/2010 100.60 91.17 42.70 48.18
6/30/2010 100.60 89.77 41.28 43.10
7/31/2010 120.13 105.57 54.68 54.70
8/31/2010 115.79 101.58 49.87 48.93
9/30/2010 142.19 123.98 64.56 62.81
10/31/2010 150.80 130.48 70.50 68.88
11/30/2010 144.87 124.40 62.30 65.24
12/31/2010 164.19 140.41 75.44 77.39
1/31/2011 150.13 133.89 79.58 81.39
2/28/2011 149.70 131.71 85.50 87.74
3/31/2011 162.23 145.33 81.34 85.89
4/30/2011 171.07 152.94 92.18 93.79
5/31/2011 163.90 146.31 86.50 89.77
6/30/2011 160.42 142.52 84.17 86.77
7/31/2011 156.80 141.44 81.24 83.38
8/31/2011 140.14 119.87 64.87 70.46
9/30/2011 108.19 87.81 49.16 55.74
10/31/2011 133.47 112.69 63.55 71.85
11/30/2011 124.56 98.51 55.61 67.65
12/31/2011 116.37 96.12 54.14 67.56
1/31/2012 135.86 118.36 62.36 75.97
2/29/2012 149.21 131.45 71.68 84.56
3/31/2012 148.48 123.72 70.88 86.93
4/30/2012 146.63 121.05 67.53 84.81
5/31/2012 121.25 96.26 48.30 68.86
6/30/2012 133.64 103.83 58.70 77.46
7/31/2012 134.45 107.81 60.50 79.74
8/31/2012 138.00 107.12 64.81 84.30
9/30/2012 150.25 119.61 69.68 89.36
10/31/2012 152.31 118.28 71.09 88.08
11/30/2012 152.39 121.05 75.23 90.49
12/31/2012 161.48 131.86 80.83 94.08
1/31/2013 168.60 135.06 90.37 103.96
2/28/2013 163.86 132.10 88.56 104.30
3/31/2013 161.78 128.11 90.11 109.08
4/30/2013 164.97 129.82 100.02 115.67
5/31/2013 163.63 123.93 95.19 115.75
6/30/2013 151.26 109.67 88.25 110.43
7/31/2013 159.85 111.86 98.19 121.51
8/31/2013 151.48 108.22 95.56 116.80
9/30/2013 173.41 121.77 110.02 127.64
10/31/2013 183.05 132.54 117.08 136.55
11/30/2013 180.90 129.14 118.75 140.75
12/31/2013 183.33 125.83 122.02 145.85
1/31/2014 161.05 111.16 113.08 136.74
2/28/2014 173.05 118.16 124.92 148.59
3/31/2014 178.26 124.85 123.49 148.95
4/30/2014 178.41 125.61 126.72 151.50
5/31/2014 190.11 133.48 130.40 156.45
6/30/2014 199.95 139.68 132.63 161.04
7/31/2014 198.91 144.32 128.06 156.87
8/31/2014 207.77 149.82 127.71 162.53
9/30/2014 189.22 131.31 118.96 155.41
10/31/2014 194.44 134.03 115.78 157.06
11/30/2014 189.37 131.56 118.71 162.21
12/31/2014 169.72 120.89 111.14 157.99
1/31/2015 166.30 122.21 112.17 153.31
2/28/2015 171.99 129.09 124.85 168.15
3/31/2015 166.07 125.83 121.44 163.95
4/30/2015 177.31 143.20 130.48 170.14
5/31/2015 172.07 133.46 129.30 171.08
6/30/2015 168.12 127.40 122.80 164.77
7/31/2015 155.44 111.64 127.43 169.52
8/31/2015 128.26 92.50 110.70 151.69
9/30/2015 121.57 86.70 100.00 142.41
10/31/2015 141.85 100.02 115.63 161.61
11/30/2015 136.99 92.22 112.28 160.31
12/31/2015 131.79 87.94 109.42 155.74
1/31/2016 118.30 75.74 94.27 140.44
2/29/2016 115.63 75.46 90.71 138.65
3/31/2016 138.73 98.67 103.12 154.84
4/30/2016 138.12 99.75 109.00 158.88
5/31/2016 136.21 92.30 107.11 160.33
6/30/2016 140.33 99.99 100.15 157.41
7/31/2016 148.26 110.05 110.30 168.29
8/31/2016 155.05 115.27 110.45 168.51
9/30/2016 161.30 118.04 113.03 169.94
10/31/2016 161.68 118.56 108.67 164.71
11/30/2016 148.49 108.50 104.52 168.52
12/31/2016 147.76 108.96 111.51 174.94
1/31/2017 160.06 120.39 117.65 181.58
2/28/2017 164.42 127.14 120.76 189.39
3/31/2017 174.96 132.87 126.84 192.48
4/30/2017 182.61 137.97 132.61 196.81
5/31/2017 190.55 145.01 141.15 203.08
6/30/2017 193.84 147.48 140.72 204.25
7/31/2017 209.89 162.23 147.66 211.53
8/31/2017 217.07 168.08 147.57 211.97
9/30/2017 217.91 167.01 153.73 218.97
10/31/2017 226.17 176.37 157.58 225.00
11/30/2017 224.41 176.93 160.28 232.04
12/31/2017 233.91 186.87 164.46 236.53
1/31/2018 261.05 210.78 177.73 254.30
2/28/2018 243.49 196.44 165.19 239.62
3/31/2018 243.72 190.93 160.41 232.22
4/30/2018 239.35 189.64 166.36 236.04
5/31/2018 238.28 179.38 160.37 238.15
6/30/2018 229.62 167.77 157.19 237.98
7/31/2018 231.30 173.65 163.52 248.54
8/31/2018 222.10 166.26 158.43 252.85
9/30/2018 218.35 164.84 160.67 254.82
10/31/2018 188.53 141.78 139.93 228.76
11/30/2018 202.79 151.74 139.62 232.50
12/31/2018 193.37 145.07 127.99 207.22
1/31/2019 218.27 166.53 142.98 231.12
2/28/2019 224.81 167.13 149.17 241.08

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 

$ per share as of 03/21/2019

Date 2014 2015 2016 2017 2018
Short Term
Long Term 0.5977
Total Amount of Distribution 0.5977
Record Date 12/4/14
Ex Div Date 12/5/14
Pay Date 12/5/14

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

Portfolio

Top Issuers

(55.8% of assets as of 02/28/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
China 23.6% 32.1% -8.5%
India 10.2% 8.4% 1.7%
Hong Kong 8.3% - -
Russia 6.1% 3.8% 2.3%
Mexico 6.1% 2.7% 3.5%
France 5.9% - -
Taiwan 4.9% 11.2% -6.2%
Brazil 4.9% 7.6% -2.7%
South Korea 4.6% 13.7% -9.1%
United Kingdom 3.6% - -
Philippines 3.6% 1.1% 2.5%
United States 2.7% - -
South Africa 2.3% 6.1% -3.8%
Turkey 1.5% 0.7% 0.8%
Peru 1.3% 0.4% 0.9%
United Arab Emirates 1.3% 0.7% 0.6%
Indonesia 1.0% 2.2% -1.2%
Singapore 1.0% - -
Chile 1.0% 1.1% 0.0%
Italy 0.6% - -
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 10.1% - -
Asia Pacific 9.3% - -
Americas 2.7% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 48.7% 73.5% -24.8%
Americas 13.9% 12.3% 1.7%
Europe 7.5% 6.3% 1.2%
Africa 2.8% 6.2% -3.4%
Middle East 1.3% 1.7% -0.4%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Consumer Discretionary 24.7% 11.4% 13.4%
Financials 23.3% 24.6% -1.3%
Information Technology 8.3% 14.6% -6.3%
Consumer Staples 7.7% 6.4% 1.3%
Health Care 6.9% 2.7% 4.2%
Materials 6.9% 7.4% -0.5%
Communication Services 6.6% 13.8% -7.2%
Industrials 5.1% 5.4% -0.3%
Energy 4.9% 8.1% -3.2%
Real Estate 1.9% 3.0% -1.1%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Internet & Direct Marketing Retail 10.9% 5.4% 5.5%
Banks 10.0% 17.1% -7.1%
Textiles Apparel & Luxury Goods 7.5% 0.7% 6.7%
Metals & Mining 5.8% 3.4% 2.4%
Interactive Media & Services 5.4% 6.5% -1.1%
Oil Gas & Consumable Fuels 4.9% 8.0% -3.1%
Semiconductors & Semiconductor Equipment 4.9% 5.3% -0.4%
Capital Markets 4.8% 1.4% 3.4%
Hotels Restaurants & Leisure 4.3% 0.8% 3.5%
Thrifts & Mortgage Finance 3.2% 0.9% 2.4%
Insurance 3.1% 4.0% -0.9%
Pharmaceuticals 3.0% 1.3% 1.7%
Food & Staples Retailing 2.7% 1.7% 0.9%
Beverages 2.5% 1.2% 1.3%
Industrial Conglomerates 2.5% 1.5% 1.0%
Personal Products 2.2% 0.7% 1.5%
Multiline Retail 2.0% 0.6% 1.4%
Real Estate Management & Development 1.9% 2.6% -0.8%
Diversified Financial Services 1.9% 1.0% 0.9%
Health Care Providers & Services 1.6% 0.5% 1.2%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 96.4% 100.0% -3.6%
Net Cash and Equivalents 3.6% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 86.6% 89.7% -3.1%
Mid 6.7% 9.7% -2.9%
Small 0.4% 0.6% -0.2%
Analytics
(As of 02/28/2019)

Morningstar 02/28/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
713
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
1.04
-0.48
Beta
0.87
0.89
Information Ratio
-0.16
-0.18
R-Squared
91.23
90.23
Sharpe Ratio
0.97
0.24
Standard Deviation
13.50
14.35
Upside Capture
89.15
87.46
Downside Capture
82.72
89.58
Sortino Ratio
1.72
0.36
Win Ratio
36.00
43.00
Loss Ratio
64.00
57.00
Tracking Error
4.46
4.78
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$93.06 B
$82.35 B
Median Market Cap (weighted)
$39.64 B
$20.48 B
P/E Ratio (LTM)
24.22
13.73
P/E Ratio (NTM)
18.22
12.12
Price/Book
3.35
1.86
Return on Equity
18.24%
17.29%
Turnover Ratio
36%
-
Active Share
79.80%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/4/2017
Per Share ($)
$0.0451
Distribution Sources
  • E
Net Income
87.20%
Net Profit from Sale
0.00%
Other Capital Sources
12.80%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. Effective 4/12/13, the purchase and exchange of Fund shares will be restricted, subject to certain exceptions. Please see the prospectus supplement for further information.
  2. 2. 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. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk.
  3. 3. 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.
  4. 4. The MSCI Emerging Markets Index is designed to measure equity market performance of emerging markets. The index is unmanaged, includes the reinvestment of dividends 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.
  5. 5. 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.
  6. 6. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
  7. 7. The Morningstar Analyst Rating is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. (Mstar.) Mstar evaluates funds based on five key pillars (process, performance, people, parent and price). Mstar’s analysts use this evaluation to identify funds they believe are morelikely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weighting of each pillar may vary. The Analyst Rating reflects an overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with threepositive ratings (Gold, Silver, Bronze), a Neutral Rating and a Negative Rating, with Gold being the highest rating and Negative being the lowest rating. The Mstar analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Mstar’s current expectations about future events. Mstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may causeMstar’s expectations not to occur or to differ significantly.
  8. 8. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  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, reinvested distributions, and a 5.75% maximum sales charge where indicated.  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.
  14. F. 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.
  15. G. The performance data quoted represents past performance, which does not guarantee future results.  The investments 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.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  16. H. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
     
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