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ODMAX

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
November 18, 1996
Investment Style
Developing Markets
Fund Index
MSCI Emerging Markets Index
CUSIP
683974109
NAV
  • A
(as of 06/20/2018)
$43.68
Total Assets
(as of 05/31/2018)
$40.35 BN
Gross Expense Ratio
(as of 05/31/2018)
1.32%
Net Expense Ratio
(as of 05/31/2018)
1.32%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 05/31/2018
  • B
as of 03/31/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
2.94% 25.01% 8.91% 5.60% 5.66% 12.39%
MSCI Emerging Markets Index
1.42% 24.93% 8.81% 4.99% 3.02% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-2.98% 17.82% 6.78% 4.35% 5.04% 12.08%
MSCI Emerging Markets Index
1.42% 24.93% 8.81% 4.99% 3.02% -
Cumulative
Annualized
ytd as of 2018-05-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
1.31% 16.42% 7.53% 5.11% 4.45% 12.21%
MSCI Emerging Markets Index
-2.61% 14.03% 6.17% 4.52% 1.62% -
Cumulative
Annualized
ytd as of 2018-05-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-4.52% 9.73% 5.43% 3.88% 3.83% 11.90%
MSCI Emerging Markets Index
-2.61% 14.03% 6.17% 4.52% 1.62% -
Gross Expense Ratio: 1.32% | Net Expense Ratio: 1.32%

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.


Year Developing Markets Fund MSCI Emerging Markets Index
1997 14.09% -
1998 -19.36% -
1999 82.30% -
2000 -5.26% -
2001 -5.73% -2.62%
2002 -1.60% -6.17%
2003 65.23% 55.82%
2004 33.00% 25.55%
2005 41.23% 34.00%
2006 25.18% 32.17%
2007 33.86% 39.53%
2008 -48.03% -53.33%
2009 81.73% 78.51%
2010 26.99% 18.88%
2011 -18.10% -18.42%
2012 20.85% 18.22%
2013 8.36% -2.60%
2014 -4.81% -2.19%
2015 -14.06% -14.92%
2016 6.89% 11.19%
2017 34.77% 37.28%

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.


Date Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
5/31/2008 0.00 0.00 0.00 0.00
6/30/2008 -10.75 -9.97 -8.18 -7.98
7/31/2008 -11.25 -13.37 -11.13 -10.22
8/31/2008 -14.93 -20.29 -14.73 -11.49
9/30/2008 -27.30 -34.24 -27.06 -22.01
10/31/2008 -44.65 -52.24 -41.78 -36.80
11/30/2008 -50.42 -55.83 -44.92 -40.89
12/31/2008 -47.70 -52.39 -41.61 -38.99
1/31/2009 -51.26 -55.46 -47.34 -44.34
2/28/2009 -54.32 -57.97 -52.74 -50.04
3/31/2009 -47.87 -51.93 -49.75 -46.27
4/30/2009 -38.68 -43.94 -43.31 -40.24
5/31/2009 -27.72 -34.36 -36.61 -34.83
6/30/2009 -27.92 -35.24 -36.97 -35.12
7/31/2009 -20.38 -27.96 -31.21 -29.62
8/31/2009 -19.76 -28.22 -27.47 -26.72
9/30/2009 -12.98 -21.70 -24.70 -23.80
10/31/2009 -13.57 -21.60 -25.64 -25.16
11/30/2009 -8.40 -18.24 -24.15 -22.10
12/31/2009 -4.96 -15.01 -23.06 -20.70
1/31/2010 -10.24 -19.75 -26.45 -23.98
2/28/2010 -9.15 -19.47 -26.95 -22.91
3/31/2010 -2.21 -12.96 -22.39 -18.13
4/30/2010 -1.02 -11.91 -23.80 -18.12
5/31/2010 -8.36 -19.66 -32.56 -25.96
6/30/2010 -8.36 -20.25 -33.24 -28.50
7/31/2010 0.56 -13.61 -26.91 -22.70
8/31/2010 -1.42 -15.28 -29.18 -25.59
9/30/2010 10.64 -5.87 -22.24 -18.65
10/31/2010 14.57 -3.14 -19.43 -15.62
11/30/2010 11.86 -5.69 -23.31 -17.44
12/31/2010 20.69 1.04 -17.09 -11.37
1/31/2011 14.27 -1.71 -15.14 -9.37
2/28/2011 14.07 -2.62 -12.34 -6.20
3/31/2011 19.80 3.10 -14.30 -7.12
4/30/2011 23.83 6.30 -9.18 -3.17
5/31/2011 20.56 3.51 -11.87 -5.18
6/30/2011 18.97 1.92 -12.97 -6.68
7/31/2011 17.31 1.47 -14.35 -8.38
8/31/2011 9.70 -7.60 -22.09 -14.83
9/30/2011 -4.89 -21.07 -29.51 -22.19
10/31/2011 6.66 -10.62 -22.71 -14.14
11/30/2011 2.59 -16.57 -26.46 -16.23
12/31/2011 -1.15 -17.58 -27.16 -16.28
1/31/2012 7.75 -8.23 -23.27 -12.08
2/29/2012 13.85 -2.73 -18.87 -7.79
3/31/2012 13.51 -5.98 -19.25 -6.60
4/30/2012 12.67 -7.10 -20.83 -7.66
5/31/2012 1.07 -17.52 -29.92 -15.63
6/30/2012 6.74 -14.34 -25.01 -11.33
7/31/2012 7.11 -12.67 -24.16 -10.19
8/31/2012 8.73 -12.96 -22.12 -7.92
9/30/2012 14.32 -7.71 -19.81 -5.39
10/31/2012 15.27 -8.27 -19.15 -6.03
11/30/2012 15.30 -7.10 -17.19 -4.82
12/31/2012 19.46 -2.56 -14.55 -3.03
1/31/2013 22.70 -1.22 -10.04 1.91
2/28/2013 20.54 -2.46 -10.89 2.08
3/31/2013 19.59 -4.14 -10.16 4.47
4/30/2013 21.05 -3.41 -5.48 7.76
5/31/2013 20.44 -5.89 -7.76 7.80
6/30/2013 14.78 -11.88 -11.04 5.14
7/31/2013 18.71 -10.96 -6.34 10.68
8/31/2013 14.89 -12.49 -7.58 8.32
9/30/2013 24.90 -6.80 -0.75 13.74
10/31/2013 29.31 -2.27 2.59 18.19
11/30/2013 28.32 -3.70 3.37 20.29
12/31/2013 29.44 -5.09 4.92 22.84
1/31/2014 19.26 -11.26 0.69 18.29
2/28/2014 24.74 -8.32 6.29 24.21
3/31/2014 27.12 -5.50 5.61 24.39
4/30/2014 27.19 -5.19 7.14 25.66
5/31/2014 32.53 -1.88 8.88 28.13
6/30/2014 37.03 0.73 9.93 30.43
7/31/2014 36.55 2.68 7.77 28.35
8/31/2014 40.60 4.99 7.61 31.17
9/30/2014 32.13 -2.79 3.47 27.61
10/31/2014 34.51 -1.65 1.97 28.44
11/30/2014 32.19 -2.69 3.36 31.01
12/31/2014 23.22 -7.17 -0.22 28.90
1/31/2015 21.65 -6.61 0.26 26.56
2/28/2015 24.26 -3.72 6.26 33.98
3/31/2015 21.55 -5.09 4.64 31.88
4/30/2015 26.68 2.21 8.92 34.98
5/31/2015 24.29 -1.88 8.36 35.44
6/30/2015 22.49 -4.43 5.29 32.29
7/31/2015 16.69 -11.06 7.47 34.67
8/31/2015 4.28 -19.10 -0.43 25.75
9/30/2015 1.22 -21.54 -5.49 21.12
10/31/2015 10.48 -15.94 1.90 30.71
11/30/2015 8.26 -19.22 0.31 30.06
12/31/2015 5.89 -21.02 -1.04 27.78
1/31/2016 -0.28 -26.14 -8.19 20.13
2/29/2016 -1.49 -26.26 -9.88 19.24
3/31/2016 9.06 -16.51 -4.01 27.33
4/30/2016 8.78 -16.05 -1.23 29.35
5/31/2016 7.91 -19.18 -2.13 30.07
6/30/2016 9.79 -15.95 -5.41 28.61
7/31/2016 13.41 -11.72 -0.62 34.05
8/31/2016 16.51 -9.53 -0.55 34.16
9/30/2016 19.37 -8.37 0.67 34.87
10/31/2016 19.54 -8.15 -1.39 32.26
11/30/2016 13.52 -12.38 -3.35 34.16
12/31/2016 13.18 -12.18 -0.05 37.37
1/31/2017 18.81 -7.38 2.85 40.69
2/28/2017 20.80 -4.54 4.32 44.59
3/31/2017 25.61 -2.13 7.19 46.13
4/30/2017 29.10 0.01 9.92 48.30
5/31/2017 32.73 2.97 13.96 51.43
6/30/2017 34.24 4.00 13.76 52.02
7/31/2017 41.57 10.20 17.04 55.65
8/31/2017 44.85 12.66 16.99 55.87
9/30/2017 45.23 12.21 19.90 59.37
10/31/2017 49.00 16.15 21.72 62.38
11/30/2017 48.20 16.38 23.00 65.90
12/31/2017 52.54 20.56 24.98 68.15
1/31/2018 64.94 30.61 31.24 77.02
2/28/2018 56.92 24.58 25.32 69.69
3/31/2018 57.02 22.27 23.06 65.99
4/30/2018 55.03 21.73 25.87 67.90
5/31/2018 54.54 17.41 23.04 68.95

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.

$ per share as of 06/20/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 0.1792 0.5977
Total Amount of Distribution 0.1792 0.5977
Record Date 12/5/13 12/4/14
Ex Div Date 12/6/13 12/5/14
Pay Date 12/9/13 12/5/14

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

Portfolio

Top Issuers

(55.3% of assets as of 05/31/2018)


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 25.3% 31.7% -6.5%
India 10.9% 8.5% 2.4%
South Korea 8.5% 15.4% -6.9%
Russia 6.3% 3.5% 2.7%
Hong Kong 5.8% - -
France 5.7% - -
Taiwan 5.2% 11.6% -6.4%
Brazil 4.9% 6.2% -1.3%
Mexico 4.0% 2.7% 1.4%
United Kingdom 3.8% - -
Philippines 3.4% 1.0% 2.4%
South Africa 2.4% 6.5% -4.0%
United Arab Emirates 1.7% 0.6% 1.0%
Indonesia 1.5% 2.0% -0.5%
Peru 1.2% 0.4% 0.7%
United States 1.1% - -
Colombia 0.8% 0.5% 0.3%
Turkey 0.8% 0.8% 0.0%
Malaysia 0.6% 2.4% -1.8%
Egypt 0.4% 0.1% 0.3%
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 9.9% - -
Asia Pacific 5.8% - -
Americas 1.1% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 55.4% 75.0% -19.7%
Americas 11.1% 11.0% 0.1%
Europe 7.0% 6.2% 0.8%
Africa 2.9% 6.6% -3.7%
Middle East 1.7% 1.2% 0.5%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Information Technology 23.5% 28.7% -5.1%
Financials 18.4% 23.0% -4.6%
Consumer Discretionary 17.5% 9.4% 8.1%
Consumer Staples 10.1% 6.5% 3.6%
Health Care 8.3% 2.9% 5.4%
Materials 6.3% 7.5% -1.2%
Industrials 4.8% 5.1% -0.3%
Energy 4.2% 7.4% -3.2%
Real Estate 1.8% 2.8% -1.0%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Internet Software & Services 13.8% 12.5% 1.3%
Banks 8.2% 16.1% -7.8%
Textiles Apparel & Luxury Goods 7.4% 0.6% 6.8%
Semiconductors & Semiconductor Equipment 5.2% 5.6% -0.4%
Metals & Mining 5.1% 3.4% 1.7%
Oil Gas & Consumable Fuels 4.2% 7.3% -3.1%
Hotels Restaurants & Leisure 3.6% 0.6% 3.0%
Beverages 3.6% 1.2% 2.4%
Food & Staples Retailing 3.2% 1.7% 1.5%
Pharmaceuticals 3.1% 1.5% 1.6%
Health Care Providers & Services 2.9% 0.5% 2.4%
Thrifts & Mortgage Finance 2.9% 0.9% 2.0%
Personal Products 2.8% 0.9% 1.9%
Internet & Direct Marketing Retail 2.7% 0.9% 1.8%
Insurance 2.6% 3.4% -0.8%
Industrial Conglomerates 2.3% 1.5% 0.7%
Capital Markets 2.1% 1.2% 1.0%
Diversified Financial Services 2.1% 1.2% 0.9%
Technology Hardware Storage & Peripherals 2.1% 5.9% -3.7%
Real Estate Management & Development 1.8% 2.4% -0.5%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 94.9% 100.0% -5.1%
Net Cash and Equivalents 5.1% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 87.3% 88.8% -1.6%
Mid 6.9% 10.4% -3.5%
Analytics
(As of 05/31/2018)

Morningstar 05/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
674
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/26/17)
Silver
Performance Statistics
3Y
5Y
Alpha
1.89
1.00
Beta
0.88
0.90
Information Ratio
0.29
0.11
R-Squared
91.25
88.34
Sharpe Ratio
0.52
0.39
Standard Deviation
14.67
14.33
Upside Capture
90.31
91.40
Downside Capture
80.68
86.65
Sortino Ratio
0.24
0.17
Win Ratio
47.00
48.00
Loss Ratio
53.00
52.00
Tracking Error
4.73
5.13
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/4/2017
Per Share ($)
$0.1292
12-Month Distribution ($)
$0.1292
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$105.50 B
$94.30 B
Median Market Cap (weighted)
$37.80 B
$22.50 B
P/E Ratio (LTM)
22.76
15.11
P/E Ratio (NTM)
18.76
12.27
Price/Book
3.21
1.97
Return on Equity
17.77%
17.06%
Turnover Ratio
33%
-
Active Share
76.06%
-
Distribution Sources
  • D
Net Income
87.20%
Net Profit from Sale
0.00%
Other Capital Sources
12.80%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. 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.
  2. 2. Special Risks: 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. Access index definitions.
  5. 5. Holdings are subject to change, and are dollar weighted based on total net 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 more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar's Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive 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 cause Mstar's expectations not to occur or to differ significantly.
  8. A. 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.
  9. B. 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.
  10. C. "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.
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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