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ODVCX

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
683974307
NAV
  • A
(as of 09/19/2018)
$37.92
Total Assets
(as of 08/31/2018)
$38.58 BN
Gross Expense Ratio
(as of 08/31/2018)
2.07%
Net Expense Ratio
(as of 08/31/2018)
2.07%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 08/31/2018
  • E
as of 06/30/2018
  • E

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • E
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-1.67% 11.33% 6.33% 4.80% 4.61% 11.20%
MSCI Emerging Markets Index
-6.66% 8.20% 5.60% 5.01% 2.26% -
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-2.65% 10.33% 6.33% 4.80% 4.61% 11.20%
MSCI Emerging Markets Index
-6.66% 8.20% 5.60% 5.01% 2.26% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-4.05% 0.80% 11.31% 4.29% 4.87% 10.98%
MSCI Emerging Markets Index
-7.18% -0.68% 11.42% 5.04% 3.45% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-5.01% -0.20% 11.31% 4.29% 4.87% 10.98%
MSCI Emerging Markets Index
-7.18% -0.68% 11.42% 5.04% 3.45% -
Gross Expense Ratio: 2.07% | Net Expense Ratio: 2.07%

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 Developing Markets Fund MSCI Emerging Markets Index
1997 13.18% -
1998 -19.98% -
1999 80.95% -
2000 -5.93% -
2001 -6.55% -2.62%
2002 -2.32% -6.17%
2003 63.98% 55.82%
2004 32.01% 25.55%
2005 40.15% 34.00%
2006 24.31% 32.17%
2007 32.90% 39.53%
2008 -48.38% -53.33%
2009 80.37% 78.51%
2010 26.10% 18.88%
2011 -18.68% -18.42%
2012 20.04% 18.22%
2013 7.60% -2.60%
2014 -5.51% -2.19%
2015 -14.71% -14.92%
2016 6.10% 11.19%
2017 33.78% 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 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 Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
8/31/2008 0.00 0.00 0.00 0.00
9/30/2008 -14.54 -17.50 -14.46 -11.89
10/31/2008 -34.94 -40.08 -31.72 -28.60
11/30/2008 -41.72 -44.59 -35.41 -33.22
12/31/2008 -38.52 -40.27 -31.53 -31.08
1/31/2009 -42.70 -44.13 -38.25 -37.12
2/28/2009 -46.30 -47.28 -44.58 -43.55
3/31/2009 -38.71 -39.70 -41.07 -39.30
4/30/2009 -27.92 -29.67 -33.52 -32.49
5/31/2009 -15.04 -17.65 -25.66 -26.37
6/30/2009 -15.27 -18.76 -26.08 -26.70
7/31/2009 -6.41 -9.62 -19.33 -20.49
8/31/2009 -5.67 -9.95 -14.95 -17.21
9/30/2009 2.30 -1.77 -11.69 -13.91
10/31/2009 1.60 -1.65 -12.80 -15.45
11/30/2009 7.68 2.57 -11.05 -11.99
12/31/2009 11.73 6.63 -9.77 -10.41
1/31/2010 5.51 0.68 -13.74 -14.11
2/28/2010 6.79 1.03 -14.34 -12.90
3/31/2010 14.95 9.19 -8.99 -7.51
4/30/2010 16.35 10.51 -10.64 -7.49
5/31/2010 7.73 0.79 -20.92 -16.36
6/30/2010 7.73 0.05 -21.71 -19.22
7/31/2010 18.22 8.38 -14.28 -12.67
8/31/2010 15.88 6.28 -16.94 -15.93
9/30/2010 30.06 18.09 -8.80 -8.10
10/31/2010 34.69 21.52 -5.51 -4.67
11/30/2010 31.50 18.31 -10.06 -6.73
12/31/2010 41.88 26.75 -2.78 0.13
1/31/2011 34.33 23.31 -0.48 2.39
2/28/2011 34.10 22.16 2.80 5.98
3/31/2011 40.83 29.35 0.50 4.93
4/30/2011 45.57 33.36 6.50 9.39
5/31/2011 41.72 29.86 3.36 7.12
6/30/2011 39.85 27.86 2.06 5.43
7/31/2011 37.91 27.29 0.44 3.51
8/31/2011 28.96 15.92 -8.63 -3.78
9/30/2011 11.80 -0.98 -17.34 -12.09
10/31/2011 25.38 12.13 -9.37 -3.00
11/30/2011 20.60 4.66 -13.76 -5.37
12/31/2011 16.20 3.40 -14.58 -5.42
1/31/2012 26.66 15.13 -10.02 -0.67
2/29/2012 33.83 22.02 -4.86 4.18
3/31/2012 33.44 17.95 -5.30 5.52
4/30/2012 32.45 16.54 -7.16 4.32
5/31/2012 18.81 3.47 -17.82 -4.68
6/30/2012 25.47 7.47 -12.05 0.17
7/31/2012 25.91 9.56 -11.06 1.46
8/31/2012 27.81 9.20 -8.67 4.03
9/30/2012 34.39 15.79 -5.97 6.89
10/31/2012 35.50 15.08 -5.18 6.17
11/30/2012 35.54 16.54 -2.89 7.53
12/31/2012 40.42 22.24 0.21 9.55
1/31/2013 44.24 23.93 5.50 15.13
2/28/2013 41.70 22.37 4.50 15.32
3/31/2013 40.58 20.26 5.36 18.02
4/30/2013 42.29 21.17 10.84 21.74
5/31/2013 41.58 18.06 8.17 21.78
6/30/2013 34.93 10.55 4.33 18.78
7/31/2013 39.55 11.70 9.83 25.04
8/31/2013 35.05 9.78 8.38 22.38
9/30/2013 46.83 16.92 16.39 28.50
10/31/2013 52.00 22.60 20.30 33.53
11/30/2013 50.85 20.81 21.22 35.90
12/31/2013 52.16 19.06 23.04 38.77
1/31/2014 40.19 11.33 18.08 33.63
2/28/2014 46.63 15.02 24.65 40.32
3/31/2014 49.44 18.55 23.85 40.53
4/30/2014 49.52 18.95 25.64 41.97
5/31/2014 55.80 23.10 27.69 44.76
6/30/2014 61.08 26.37 28.92 47.35
7/31/2014 60.52 28.81 26.39 45.00
8/31/2014 65.28 31.71 26.19 48.19
9/30/2014 55.32 21.95 21.34 44.17
10/31/2014 58.12 23.39 19.58 45.10
11/30/2014 55.40 22.08 21.21 48.01
12/31/2014 44.84 16.46 17.01 45.63
1/31/2015 43.01 17.16 17.58 42.99
2/28/2015 46.07 20.78 24.61 51.36
3/31/2015 42.89 19.07 22.72 48.99
4/30/2015 48.92 28.22 27.73 52.49
5/31/2015 46.11 23.09 27.07 53.01
6/30/2015 43.99 19.89 23.47 49.46
7/31/2015 37.18 11.58 26.04 52.14
8/31/2015 22.58 1.49 16.76 42.07
9/30/2015 18.99 -1.56 10.83 36.83
10/31/2015 29.88 5.46 19.50 47.67
11/30/2015 27.27 1.34 17.64 46.94
12/31/2015 24.48 -0.92 16.05 44.36
1/31/2016 17.23 -7.34 7.66 35.72
2/29/2016 15.80 -7.49 5.69 34.71
3/31/2016 28.20 4.75 12.57 43.85
4/30/2016 27.88 5.32 15.83 46.13
5/31/2016 26.85 1.39 14.77 46.95
6/30/2016 29.06 5.44 10.92 45.30
7/31/2016 33.32 10.75 16.54 51.44
8/31/2016 36.97 13.50 16.63 51.57
9/30/2016 40.32 14.96 18.06 52.37
10/31/2016 40.53 15.23 15.64 49.42
11/30/2016 33.45 9.93 13.34 51.57
12/31/2016 33.05 10.17 17.22 55.20
1/31/2017 39.66 16.20 20.62 58.94
2/28/2017 42.00 19.76 22.34 63.35
3/31/2017 47.66 22.78 25.71 65.09
4/30/2017 51.77 25.47 28.91 67.54
5/31/2017 56.04 29.18 33.64 71.08
6/30/2017 57.80 30.48 33.40 71.74
7/31/2017 66.42 38.25 37.25 75.85
8/31/2017 70.28 41.34 37.20 76.10
9/30/2017 70.73 40.78 40.61 80.05
10/31/2017 75.16 45.71 42.75 83.45
11/30/2017 74.22 46.00 44.24 87.43
12/31/2017 79.32 51.24 46.56 89.96
1/31/2018 93.89 63.85 53.91 99.99
2/28/2018 84.46 56.29 46.96 91.71
3/31/2018 84.59 53.39 44.32 87.53
4/30/2018 82.24 52.71 47.61 89.69
5/31/2018 81.66 47.30 44.29 90.87
6/30/2018 77.01 41.18 42.53 90.78
7/31/2018 77.92 44.28 46.04 96.74
8/31/2018 72.98 40.38 43.22 99.18

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 09/19/2018

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

(55.9% of assets as of 08/31/2018)


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 21.4% 30.9% -9.5%
India 10.4% 9.3% 1.0%
South Korea 8.6% 14.8% -6.2%
France 6.5% - -
Hong Kong 6.3% - -
Russia 6.1% 3.4% 2.7%
Taiwan 6.0% 12.2% -6.2%
Mexico 4.9% 3.1% 1.8%
Brazil 4.6% 5.8% -1.2%
United Kingdom 4.1% - -
Philippines 3.8% 1.0% 2.7%
South Africa 2.5% 6.3% -3.7%
United States 2.3% - -
United Arab Emirates 1.7% 0.7% 1.0%
Peru 1.2% 0.4% 0.8%
Singapore 1.0% - -
Indonesia 0.9% 2.0% -1.1%
Colombia 0.7% 0.5% 0.2%
Egypt 0.5% 0.1% 0.3%
Turkey 0.5% 0.5% 0.0%
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 10.6% - -
Asia Pacific 7.3% - -
Americas 2.3% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 52.0% 75.3% -23.3%
Americas 11.5% 10.8% 0.7%
Europe 6.6% 5.9% 0.7%
Africa 3.0% 6.4% -3.4%
Middle East 1.7% 1.6% 0.0%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Information Technology 25.8% 27.6% -1.9%
Financials 19.8% 23.0% -3.2%
Consumer Discretionary 15.0% 9.3% 5.8%
Consumer Staples 7.9% 6.5% 1.4%
Health Care 7.2% 3.1% 4.1%
Materials 6.9% 7.8% -0.9%
Industrials 5.6% 5.2% 0.4%
Energy 4.7% 7.7% -2.9%
Real Estate 1.9% 3.0% -1.0%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Internet Software & Services 14.7% 11.2% 3.5%
Banks 7.9% 15.8% -7.9%
Textiles Apparel & Luxury Goods 7.2% 0.7% 6.5%
Semiconductors & Semiconductor Equipment 6.0% 5.8% 0.2%
Metals & Mining 5.6% 3.3% 2.3%
Oil Gas & Consumable Fuels 4.7% 7.6% -2.8%
Capital Markets 3.7% 1.1% 2.6%
Hotels Restaurants & Leisure 3.6% 0.8% 2.8%
Health Care Providers & Services 3.1% 0.5% 2.6%
Thrifts & Mortgage Finance 3.0% 1.0% 2.0%
Beverages 3.0% 1.2% 1.8%
Insurance 2.6% 3.6% -1.0%
Industrial Conglomerates 2.5% 1.5% 1.0%
Personal Products 2.4% 0.8% 1.6%
Food & Staples Retailing 2.3% 1.8% 0.6%
Diversified Financial Services 2.2% 1.2% 1.0%
Technology Hardware Storage & Peripherals 2.1% 5.6% -3.5%
Pharmaceuticals 1.9% 1.6% 0.3%
Real Estate Management & Development 1.9% 2.6% -0.7%
Transportation Infrastructure 1.8% 0.9% 0.9%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 95.0% 100.0% -5.0%
Net Cash and Equivalents 5.0% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 85.5% 88.5% -3.0%
Mid 7.3% 10.3% -3.0%
Small 0.4% 1.1% -0.7%
Analytics
(As of 08/31/2018)

Morningstar 08/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
695
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
1.41
-0.23
Beta
0.85
0.89
Information Ratio
-0.02
-0.15
R-Squared
90.21
88.69
Sharpe Ratio
0.83
0.33
Standard Deviation
12.86
14.10
Upside Capture
86.43
86.06
Downside Capture
77.41
86.70
Sortino Ratio
0.47
0.15
Win Ratio
42.00
45.00
Loss Ratio
58.00
55.00
Tracking Error
4.61
5.01
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$96.50 B
$82.42 B
Median Market Cap (weighted)
$34.55 B
$21.51 B
P/E Ratio (LTM)
22.22
15.15
P/E Ratio (NTM)
18.13
12.39
Price/Book
3.10
1.96
Return on Equity
18.01%
17.45%
Turnover Ratio
33%
-
Active Share
77.56%
-
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/5/2014
Per Share ($)
$0.0000
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. 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.
  12. E. 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.
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