OGYNX

Global High Yield Fund
  • A
  • 1

Overview

The Strategy typically invests in U.S. and foreign high yield bonds.

Inception Date
November 8, 2013
Investment Style
High Yield
Fund Index
J.P. Morgan Global High Yield Index
CUSIP
001421395
NAV
(as of 07/23/2019)
$9.14
Total Assets
(as of 06/30/2019)
$34.03 MM
Gross Expense Ratio
(as of 06/30/2019)
2.18%
Net Expense Ratio
(as of 06/30/2019)
1.40%
Performance
Average Annual Total Returns
Dividends
Calendar Year Returns
Capital Gains Distributions
as of 06/30/2019
  • B
as of 06/30/2019
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr since inception
Global High Yield Fund (NAV)
2.50% 9.45% 5.64% 5.31% 2.54% 3.31%
J.P. Morgan Global High Yield Index
2.82% 10.08% 8.04% 7.93% 4.84% 5.58%
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr since inception
Global High Yield Fund (with sales charge)
2.50% 9.45% 5.64% 5.31% 2.54% 3.31%
J.P. Morgan Global High Yield Index
2.82% 10.08% 8.04% 7.93% 4.84% 5.58%
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr since inception
Global High Yield Fund (NAV)
2.50% 9.45% 5.64% 5.31% 2.54% 3.31%
J.P. Morgan Global High Yield Index
2.82% 10.08% 8.04% 7.93% 4.84% 5.58%
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr since inception
Global High Yield Fund (with sales charge)
2.50% 9.45% 5.64% 5.31% 2.54% 3.31%
J.P. Morgan Global High Yield Index
2.82% 10.08% 8.04% 7.93% 4.84% 5.58%
Gross Expense Ratio: 2.18% | Net Expense Ratio: 1.40%

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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.

As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund. Share class returns will differ from the predecessor fund due to a change in expenses and sales charges.


Year Global High Yield Fund J.P. Morgan Global High Yield Index
2014 0.13% 1.67%
2015 -4.74% -4.25%
2016 12.07% 18.27%
2017 6.33% 8.28%
2018 -4.61% -2.37%

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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.

As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund. Share class returns will differ from the predecessor fund due to a change in expenses and sales charges.


Date Dividends
7/31/2014 0.0413
8/29/2014 0.0427
9/30/2014 0.0381
10/31/2014 0.0449
11/28/2014 0.0387
12/31/2014 0.0323
1/30/2015 0.0378
2/27/2015 0.0345
3/31/2015 0.0377
4/30/2015 0.0377
5/29/2015 0.0381
6/30/2015 0.0375
7/31/2015 0.0401
8/31/2015 0.0347
9/30/2015 0.0341
10/30/2015 0.0382
11/30/2015 0.035
12/31/2015 0.0409
1/29/2016 0.0373
2/29/2016 0.0329
3/31/2016 0.0353
4/29/2016 0.0317
5/31/2016 0.0329
6/30/2016 0.0334
7/29/2016 0.0349
8/31/2016 0.0328
9/30/2016 0.032
10/31/2016 0.0361
11/30/2016 0.036
12/30/2016 0.0387
1/31/2017 0.0375
2/28/2017 0.0354
3/31/2017 0.0402
4/28/2017 0.0391
5/31/2017 0.0381
6/30/2017 0.0371
7/31/2017 0.0381
8/31/2017 0.0387
9/29/2017 0.0396
10/31/2017 0.0405
11/30/2017 0.0349
12/29/2017 0.0434
1/31/2018 0.0384
2/28/2018 0.0368
3/29/2018 0.0414
4/30/2018 0.0388
5/31/2018 0.0433
6/29/2018 0.0424
7/31/2018 0.0429
8/31/2018 0.0427
9/28/2018 0.0399
10/31/2018 0.041
11/30/2018 0.0403
12/31/2018 0.0439
1/31/2019 0.0413
2/28/2019 0.0391
3/29/2019 0.0397
4/30/2019 0.0385
5/31/2019 0.0388
6/28/2019 0.0371

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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.

As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund. Share class returns will differ from the predecessor fund due to a change in expenses and sales charges.

$ per share as of 07/22/2019

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

Top Industries

(90.6% of assets as of 06/30/2019)


Portfolio Holdings Breakdown

Country
Asset Allocation
Credit Rating Allocation 5
Country Global High Yield Fund J.P. Morgan Global High Yield Index Overweight / Underweight
United States 69.6% 70.8% -1.2%
Canada 3.8% 4.3% -0.5%
Brazil 3.2% 4.7% -1.5%
Mexico 1.8% 0.8% 1.0%
Luxembourg 1.6% 1.5% 0.1%
China 1.5% 1.3% 0.2%
United Arab Emirates 1.3% 0.4% 0.8%
Argentina 1.3% 1.1% 0.2%
India 0.9% 0.5% 0.4%
Turkey 0.9% 1.1% -0.2%
Russia 0.7% 0.9% -0.3%
Israel 0.6% 0.3% 0.3%
Ukraine 0.6% 0.2% 0.5%
Singapore 0.5% 0.3% 0.2%
Georgia 0.5% 0.1% 0.5%
Mauritius 0.4% 0.1% 0.3%
New Zealand 0.4% 0.2% 0.2%
Indonesia 0.4% 0.4% 0.0%
United Kingdom 0.4% 1.8% -1.4%
Ireland 0.4% 0.8% -0.3%
Asset Allocation Global High Yield Fund J.P. Morgan Global High Yield Index Overweight / Underweight
High Yield Corporates: U.S. 64.7% 66.3% -1.6%
High Yield Corporates: Emerging Markets 11.8% 13.8% -2.0%
High Yield Corporates: Developed Markets 8.2% 12.6% -4.4%
Net Cash and Equivalents 7.5% - -
Investment Grade Corporates: U.S. 3.5% 4.5% -1.0%
Investment Grade Corporates: Developed Markets 0.8% 1.6% -0.8%
Investment Grade Corporates: Emerging Markets 0.6% 1.1% -0.5%
Senior Loans: Senior Loans 1.5% - -
Emerging Markets Government: Hard Currency 1.3% 0.1% 1.2%
Equity/Other: Equity 0.1% - -
Credit Rating Allocation Global High Yield Fund J.P. Morgan Global High Yield Index Overweight / Underweight
BBB 4.9% 6.7% -1.8%
BB 49.1% 50.4% -1.3%
B 32.0% 32.8% -0.8%
CCC 5.4% 8.0% -2.6%
CC 0.2% 0.1% 0.1%
D 0.2% 0.0% 0.2%
Unrated 0.5% 1.4% -0.8%
Other 0.1% - -
Analytics
(As of 06/30/2019)

Morningstar 06/30/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
610
Category
High Yield Bond
Performance Statistics
3Y
5Y
Alpha
-2.82
-1.96
Beta
1.06
0.93
Information Ratio
-3.18
-2.08
R-Squared
97.03
96.12
Sharpe Ratio
0.85
0.33
Standard Deviation
4.51
5.27
Sortino Ratio
1.53
0.53
Tracking Error
0.82
1.11
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
4.94%
Standardized Yield
4.73%
Unsubsidized Yield
3.75%
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
6.25%
-
Yield to Worst
5.65%
-
Average Effective Maturity
3.95 yrs
-
Current Duration
3.15 yrs
-
Average Coupon
6.05%
-
Turnover Ratio
71%
-
Dividends
Est. Frequency
Monthly
Last Pay Date
6/28/2019
Per Share ($)
$0.0371
12-Month Distribution ($)
$0.4850
Team
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. 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. Will invest at least 80% in below-investment-grade (“high yield” or "junk") bonds, which are more at risk of default and are subject to liquidity 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. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.  Regulation S securities are privately offered securities, may be illiquid, and involve a high degree of risk which may result in substantial losses to the Fund. 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.
  2. 2. Fund performance reflects fee waivers, absent which, performance data quoted would have been lower. Total annual fund operating expenses after any contractual fee waivers and/or expense reimbursements by the adviser in effect through May 28, 2021. See current prospectus for more information.
  3. 3. The JPMorgan Global High Yield Index is designed to mirror the investable universe of the U.S. dollar global high yield corporate debt market, including domestic and international issues. The index is unmanaged, includes reinvested income 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.
  4. 4. 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.
  5. 5. If included in the credit rating breakdown table above, all securities except for those labeled “Treasury,” “Agency,” and “Unrated,” have been rated by at least one Nationally Recognized Statistical Rating Organization (“NRSRO”), such as S&P Global Ratings ("S&P"). For securities rated only by an NRSRO other than S&P, OppenheimerFunds converts that rating to the equivalent S&P rating. If two or more NRSROs have assigned a rating to a security, the highest S&P equivalent rating is used. Unrated securities do not necessarily indicate low credit quality, and may or may not be the equivalent of investment-grade. “Investment-grade” securities are securities rated within the NRSRO’s four highest rating categories, which include AAA, AA, A and BBB. Please consult the Fund’s Prospectus and Statement of Additional Information for further information.
  6. 6. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end.  The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date.  For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date.  Each result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  7. 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>
  8. 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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.

    As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund. Share class returns will differ from the predecessor fund due to a change in expenses and sales charges.
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