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ODVIX

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
December 29, 2011
Investment Style
Developing Markets
Fund Index
MSCI Emerging Markets Index
CUSIP
683974604
NAV
  • B
(as of 01/22/2019)
$39.00
Total Assets
(as of 12/31/2018)
$35.47 BN
Gross Expense Ratio
(as of 12/31/2018)
0.87%
Net Expense Ratio
(as of 12/31/2018)
0.87%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • G
as of 12/31/2018
  • G

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-11.79% -11.79% 8.63% 1.13% - 4.94%
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 (NAV)
-11.79% -11.79% 8.63% 1.13% - 4.94%
MSCI Emerging Markets Index
-14.57% -14.57% 9.25% 1.65% 8.02% -
Gross Expense Ratio: 0.87% | Net Expense Ratio: 0.87%

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.


Year Developing Markets Fund MSCI Emerging Markets Index
2012 21.43% 18.22%
2013 8.85% -2.60%
2014 -4.39% -2.19%
2015 -13.67% -14.92%
2016 7.38% 11.19%
2017 35.33% 37.28%
2018 -11.79% -14.57%

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.


Date Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
12/31/2008 0.00 0.00 0.00 0.00
1/31/2009 -6.80 -6.46 -9.81 -8.76
2/28/2009 -12.65 -11.73 -19.07 -18.10
3/31/2009 -0.31 0.95 -13.94 -11.92
4/30/2009 17.24 17.75 -2.92 -2.04
5/31/2009 38.20 37.87 8.57 6.83
6/30/2009 37.82 36.01 7.95 6.35
7/31/2009 52.23 51.30 17.81 15.36
8/31/2009 53.43 50.76 24.21 20.12
9/30/2009 66.39 64.45 28.97 24.90
10/31/2009 65.26 64.65 27.36 22.68
11/30/2009 75.14 71.72 29.91 27.70
12/31/2009 81.73 78.51 31.78 29.99
1/31/2010 71.62 68.55 25.97 24.62
2/28/2010 73.71 69.14 25.11 26.37
3/31/2010 86.98 82.80 32.92 34.20
4/30/2010 89.25 85.01 30.51 34.22
5/31/2010 75.22 68.74 15.49 21.36
6/30/2010 75.22 67.50 14.34 17.20
7/31/2010 92.28 81.45 25.19 26.70
8/31/2010 88.49 77.92 21.30 21.97
9/30/2010 111.56 97.70 33.18 33.34
10/31/2010 119.08 103.44 38.00 38.32
11/30/2010 113.89 98.07 31.35 35.33
12/31/2010 130.77 112.20 41.99 45.28
1/31/2011 118.49 106.44 45.34 48.56
2/28/2011 118.11 104.52 50.13 53.76
3/31/2011 129.06 116.54 46.77 52.25
4/30/2011 136.78 123.26 55.54 58.71
5/31/2011 130.52 117.40 50.94 55.42
6/30/2011 127.48 114.06 49.05 52.96
7/31/2011 124.31 113.11 46.68 50.19
8/31/2011 109.76 94.06 33.44 39.61
9/30/2011 81.86 65.77 20.72 27.55
10/31/2011 103.94 87.73 32.37 40.74
11/30/2011 96.16 75.22 25.94 37.31
12/31/2011 89.00 73.11 24.75 37.23
1/31/2012 106.02 92.74 31.40 44.12
2/29/2012 117.69 104.29 38.94 51.16
3/31/2012 117.05 97.47 38.30 53.10
4/30/2012 115.43 95.11 35.59 51.36
5/31/2012 93.26 73.23 20.02 38.30
6/30/2012 104.09 79.91 28.44 45.34
7/31/2012 104.80 83.42 29.90 47.21
8/31/2012 107.89 82.81 33.38 50.94
9/30/2012 118.59 93.84 37.33 55.09
10/31/2012 120.40 92.66 38.47 54.04
11/30/2012 120.46 95.11 41.82 56.01
12/31/2012 128.41 104.65 46.35 58.95
1/31/2013 134.62 107.47 54.07 67.04
2/28/2013 130.48 104.87 52.61 67.32
3/31/2013 128.67 101.34 53.86 71.24
4/30/2013 131.45 102.85 61.88 76.63
5/31/2013 130.29 97.65 57.97 76.70
6/30/2013 119.48 85.07 52.36 72.35
7/31/2013 126.98 87.00 60.40 81.42
8/31/2013 119.67 83.79 58.28 77.56
9/30/2013 138.83 95.74 69.98 86.44
10/31/2013 147.24 105.25 75.69 93.73
11/30/2013 145.37 102.25 77.04 97.18
12/31/2013 147.49 99.33 79.69 101.35
1/31/2014 128.03 86.38 72.45 93.89
2/28/2014 138.51 92.56 82.04 103.60
3/31/2014 143.07 98.47 80.88 103.89
4/30/2014 143.20 99.13 83.50 105.98
5/31/2014 153.42 106.08 86.48 110.04
6/30/2014 162.01 111.56 88.27 113.79
7/31/2014 161.10 115.65 84.58 110.38
8/31/2014 168.84 120.51 84.30 115.02
9/30/2014 152.63 104.16 77.21 109.18
10/31/2014 157.19 106.57 74.64 110.53
11/30/2014 152.76 104.39 77.01 114.75
12/31/2014 135.60 94.97 70.88 111.29
1/31/2015 132.61 96.13 71.72 107.46
2/28/2015 137.59 102.21 81.98 119.62
3/31/2015 132.41 99.33 79.22 116.18
4/30/2015 142.23 114.66 86.53 121.25
5/31/2015 137.65 106.07 85.58 122.01
6/30/2015 134.21 100.72 80.32 116.85
7/31/2015 123.13 86.80 84.07 120.74
8/31/2015 99.38 69.91 70.53 106.13
9/30/2015 93.55 64.79 61.87 98.53
10/31/2015 111.26 76.55 74.52 114.26
11/30/2015 107.01 69.66 71.80 113.20
12/31/2015 102.47 65.88 69.49 109.45
1/31/2016 90.68 55.12 57.23 96.92
2/29/2016 88.35 54.87 54.35 95.45
3/31/2016 108.53 75.36 64.40 108.72
4/30/2016 108.00 76.31 69.16 112.02
5/31/2016 106.33 69.74 67.62 113.21
6/30/2016 109.93 76.52 61.99 110.82
7/31/2016 116.86 85.40 70.20 119.73
8/31/2016 122.78 90.01 70.32 119.91
9/30/2016 128.25 92.45 72.42 121.08
10/31/2016 128.58 92.91 68.89 116.80
11/30/2016 117.06 84.03 65.53 119.92
12/31/2016 116.42 84.44 71.19 125.18
1/31/2017 127.17 94.53 76.15 130.62
2/28/2017 130.97 100.49 78.67 137.01
3/31/2017 140.18 105.55 83.59 139.54
4/30/2017 146.86 110.05 88.26 143.08
5/31/2017 153.80 116.26 95.17 148.23
6/30/2017 156.67 118.43 94.82 149.18
7/31/2017 170.69 131.45 100.44 155.15
8/31/2017 176.96 136.62 100.37 155.50
9/30/2017 177.70 135.68 105.35 161.24
10/31/2017 184.91 143.94 108.47 166.18
11/30/2017 183.37 144.43 110.66 171.94
12/31/2017 191.67 153.20 114.04 175.62
1/31/2018 215.38 174.31 124.78 190.17
2/28/2018 200.04 161.66 114.63 178.15
3/31/2018 200.24 156.79 110.76 172.09
4/30/2018 196.43 155.65 115.57 175.22
5/31/2018 195.49 146.59 110.73 176.94
6/30/2018 187.92 136.35 108.15 176.81
7/31/2018 189.40 141.54 113.28 185.46
8/31/2018 181.36 135.01 109.16 188.99
9/30/2018 178.08 133.76 110.97 190.60
10/31/2018 152.03 113.41 94.18 169.26
11/30/2018 164.49 122.20 93.94 172.32
12/31/2018 156.26 116.29 84.52 151.61

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.

$ per share as of 01/22/2019

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

(55.2% of assets as of 12/31/2018)


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 18.6% 30.4% -11.8%
India 11.7% 9.4% 2.3%
Hong Kong 8.3% - -
Russia 6.5% 3.7% 2.8%
France 6.1% - -
Brazil 5.8% 7.5% -1.7%
South Korea 5.8% 13.8% -8.0%
Mexico 5.7% 2.8% 2.9%
Taiwan 5.2% 11.4% -6.2%
Philippines 3.8% 1.1% 2.7%
United Kingdom 3.6% - -
South Africa 2.6% 6.2% -3.7%
United States 1.9% - -
United Arab Emirates 1.5% 0.8% 0.7%
Turkey 1.5% 0.6% 0.9%
Peru 1.3% 0.4% 0.9%
Singapore 1.1% - -
Chile 1.0% 1.1% -0.1%
Indonesia 1.0% 2.3% -1.3%
Cayman Islands 0.9% - -
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 9.7% - -
Asia Pacific 9.4% - -
Americas 2.8% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 47.1% 73.3% -26.2%
Americas 14.3% 12.2% 2.1%
Europe 8.0% 6.3% 1.7%
Africa 3.0% 6.4% -3.4%
Middle East 1.5% 1.9% -0.4%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Financials 24.4% 24.8% -0.4%
Consumer Discretionary 21.1% 10.4% 10.7%
Information Technology 8.6% 14.2% -5.6%
Consumer Staples 8.4% 6.7% 1.6%
Communication Services 7.5% 14.1% -6.6%
Materials 7.1% 7.7% -0.6%
Health Care 6.2% 2.8% 3.4%
Energy 5.4% 8.0% -2.6%
Industrials 5.3% 5.5% -0.3%
Real Estate 1.8% 3.0% -1.2%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Banks 10.3% 17.3% -7.0%
Internet & Direct Marketing Retail 8.4% 4.4% 4.0%
Textiles Apparel & Luxury Goods 7.1% 0.7% 6.4%
Interactive Media & Services 6.2% 6.6% -0.4%
Metals & Mining 5.9% 3.5% 2.4%
Oil Gas & Consumable Fuels 5.4% 7.9% -2.5%
Semiconductors & Semiconductor Equipment 5.2% 5.3% -0.1%
Capital Markets 4.9% 1.3% 3.6%
Thrifts & Mortgage Finance 3.8% 1.1% 2.7%
Hotels Restaurants & Leisure 3.5% 0.7% 2.8%
Food & Staples Retailing 2.8% 1.8% 1.0%
Insurance 2.8% 3.7% -0.9%
Industrial Conglomerates 2.7% 1.6% 1.1%
Beverages 2.7% 1.2% 1.5%
Personal Products 2.6% 0.8% 1.8%
Diversified Financial Services 2.2% 1.2% 1.0%
Multiline Retail 2.1% 0.7% 1.4%
Health Care Providers & Services 2.0% 0.5% 1.5%
Pharmaceuticals 1.9% 1.3% 0.5%
Real Estate Management & Development 1.8% 2.7% -0.8%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 95.8% 100.0% -4.2%
Net Cash and Equivalents 4.2% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 85.9% 89.7% -3.8%
Mid 6.8% 9.6% -2.8%
Small 0.5% 0.7% -0.2%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
708
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
0.42
-0.40
Beta
0.87
0.90
Information Ratio
-0.14
-0.11
R-Squared
91.58
90.10
Sharpe Ratio
0.60
0.10
Standard Deviation
13.41
14.45
Upside Capture
87.45
88.36
Downside Capture
84.41
90.28
Sortino Ratio
0.97
0.15
Win Ratio
36.00
43.00
Loss Ratio
64.00
57.00
Tracking Error
4.38
4.78
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$77.71 B
$69.80 B
Median Market Cap (weighted)
$34.28 B
$18.97 B
P/E Ratio (LTM)
20.60
12.73
P/E Ratio (NTM)
16.19
10.99
Price/Book
2.74
1.71
Return on Equity
17.94%
17.47%
Turnover Ratio
36%
-
Active Share
80.11%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/3/2018
Per Share ($)
$0.3016
12-Month Distribution ($)
$0.3016
Distribution Sources
  • E
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
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.
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