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Limited-Term Government Fund

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Overview

The Strategy typically invests in limited-term U.S. Government and agency debt securities.

Inception Date
February 1, 1995
Investment Style
Limited Term U.S. Government
Fund Index
Bloomberg Barclays US Govt 1-3 Year Bond Index
CUSIP
68380F301
NAV
  • B
(as of 01/18/2019)
$4.30
Total Assets
(as of 12/31/2018)
$998.60 MM
Gross Expense Ratio
(as of 12/31/2018)
1.63%
Net Expense Ratio
(as of 12/31/2018)
1.60%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Limited-Term Government Fund (NAV)
0.11% 0.11% 0.06% 0.03% 1.33% 2.50%
Bloomberg Barclays US Govt 1-3 Year Bond Index
1.58% 1.58% 0.96% 0.82% 1.03% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Limited-Term Government Fund (with sales charge)
-0.87% -0.87% 0.06% 0.03% 1.33% 2.50%
Bloomberg Barclays US Govt 1-3 Year Bond Index
1.58% 1.58% 0.96% 0.82% 1.03% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Limited-Term Government Fund (NAV)
0.11% 0.11% 0.06% 0.03% 1.33% 2.50%
Bloomberg Barclays US Govt 1-3 Year Bond Index
1.58% 1.58% 0.96% 0.82% 1.03% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Limited-Term Government Fund (with sales charge)
-0.87% -0.87% 0.06% 0.03% 1.33% 2.50%
Bloomberg Barclays US Govt 1-3 Year Bond Index
1.58% 1.58% 0.96% 0.82% 1.03% -
Gross Expense Ratio: 1.63% | Net Expense Ratio: 1.60%

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 Limited-Term Government Fund Bloomberg Barclays US Govt 1-3 Year Bond Index
1996 3.99% 5.08%
1997 6.84% 6.65%
1998 6.19% 6.97%
1999 1.39% 2.97%
2000 6.65% 8.17%
2001 6.04% 8.53%
2002 5.29% 6.01%
2003 0.59% 2.01%
2004 0.87% 1.07%
2005 0.77% 1.73%
2006 3.60% 4.12%
2007 4.46% 7.10%
2008 -6.96% 6.66%
2009 7.55% 1.41%
2010 4.63% 2.40%
2011 0.75% 1.56%
2012 1.74% 0.51%
2013 -1.26% 0.37%
2014 0.37% 0.64%
2015 -0.37% 0.57%
2016 -0.10% 0.87%
2017 0.17% 0.45%
2018 0.11% 1.58%

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 Limited-Term Government Fund Bloomberg Barclays US Government 1-3 Year Bond Index BBG Barclays Agg
12/31/2008 0.00 0.00 0.00
1/31/2009 -0.07 -0.25 -0.88
2/28/2009 -1.05 -0.21 -1.26
3/31/2009 -0.10 0.32 0.12
4/30/2009 0.83 0.35 0.59
5/31/2009 2.56 0.60 1.32
6/30/2009 2.90 0.47 1.90
7/31/2009 4.19 0.67 3.54
8/31/2009 5.56 1.05 4.62
9/30/2009 6.24 1.32 5.72
10/31/2009 7.17 1.55 6.24
11/30/2009 7.59 2.13 7.61
12/31/2009 7.55 1.41 5.93
1/31/2010 8.67 2.15 7.55
2/28/2010 9.06 2.37 7.95
3/31/2010 9.20 2.14 7.82
4/30/2010 10.17 2.41 8.94
5/31/2010 10.95 2.83 9.86
6/30/2010 11.40 3.33 11.58
7/31/2010 11.96 3.60 12.77
8/31/2010 12.37 3.79 14.22
9/30/2010 12.55 3.98 14.34
10/31/2010 12.82 4.23 14.75
11/30/2010 12.72 4.02 14.09
12/31/2010 12.53 3.85 12.86
1/31/2011 12.59 4.02 12.99
2/28/2011 12.77 3.94 13.27
3/31/2011 12.86 3.91 13.34
4/30/2011 13.44 4.36 14.78
5/31/2011 13.64 4.73 16.27
6/30/2011 13.22 4.76 15.93
7/31/2011 13.64 5.03 17.77
8/31/2011 13.56 5.39 19.49
9/30/2011 13.21 5.25 20.36
10/31/2011 13.22 5.35 20.49
11/30/2011 13.12 5.41 20.39
12/31/2011 13.38 5.47 21.71
1/31/2012 14.00 5.64 22.78
2/29/2012 14.14 5.49 22.75
3/31/2012 14.27 5.44 22.08
4/30/2012 14.50 5.66 23.43
5/31/2012 14.48 5.69 24.55
6/30/2012 14.46 5.66 24.60
7/31/2012 15.15 5.90 26.32
8/31/2012 15.38 5.91 26.40
9/30/2012 15.70 5.93 26.57
10/31/2012 15.54 5.88 26.82
11/30/2012 15.37 5.97 27.02
12/31/2012 15.34 6.00 26.84
1/31/2013 15.30 6.02 25.95
2/28/2013 15.26 6.11 26.58
3/31/2013 15.24 6.14 26.69
4/30/2013 15.33 6.25 27.97
5/31/2013 14.64 6.09 25.68
6/30/2013 13.92 6.02 23.74
7/31/2013 13.95 6.19 23.91
8/31/2013 13.75 6.08 23.28
9/30/2013 14.05 6.33 24.44
10/31/2013 14.23 6.44 25.45
11/30/2013 14.18 6.55 24.98
12/31/2013 13.89 6.40 24.27
1/31/2014 14.30 6.57 26.11
2/28/2014 14.49 6.67 26.78
3/31/2014 14.17 6.55 26.56
4/30/2014 14.36 6.70 27.63
5/31/2014 14.65 6.89 29.08
6/30/2014 14.69 6.84 29.15
7/31/2014 14.35 6.75 28.83
8/31/2014 14.40 6.94 30.25
9/30/2014 14.32 6.88 29.37
10/31/2014 14.51 7.18 30.64
11/30/2014 14.68 7.34 31.56
12/31/2014 14.31 7.08 31.69
1/31/2015 15.00 7.64 34.45
2/28/2015 14.67 7.40 33.18
3/31/2015 14.98 7.66 33.80
4/30/2015 15.05 7.71 33.32
5/31/2015 14.85 7.79 33.00
6/30/2015 14.52 7.82 31.55
7/31/2015 14.71 7.88 32.47
8/31/2015 14.52 7.84 32.28
9/30/2015 14.88 8.16 33.17
10/31/2015 14.68 8.06 33.19
11/30/2015 14.49 7.80 32.84
12/31/2015 13.91 7.69 32.41
1/31/2016 14.73 8.35 34.23
2/29/2016 14.53 8.47 35.19
3/31/2016 14.57 8.66 36.43
4/30/2016 14.61 8.70 36.95
5/31/2016 14.66 8.59 36.98
6/30/2016 14.95 9.22 39.45
7/31/2016 14.98 9.16 40.33
8/31/2016 14.76 8.98 40.17
9/30/2016 15.05 9.12 40.09
10/31/2016 14.83 9.04 39.01
11/30/2016 13.84 8.60 35.73
12/31/2016 13.79 8.63 35.92
1/31/2017 13.84 8.78 36.18
2/28/2017 13.89 8.89 37.10
3/31/2017 13.94 8.93 37.03
4/30/2017 14.25 9.09 38.08
5/31/2017 14.31 9.23 39.15
6/30/2017 14.13 9.15 39.01
7/31/2017 14.45 9.38 39.61
8/31/2017 14.54 9.59 40.86
9/30/2017 14.37 9.41 40.19
10/31/2017 14.17 9.34 40.27
11/30/2017 14.00 9.10 40.09
12/31/2017 13.99 9.11 40.73
1/31/2018 13.57 8.78 39.11
2/28/2018 13.13 8.74 37.79
3/31/2018 13.21 8.95 38.68
4/30/2018 13.04 8.77 37.64
5/31/2018 13.13 9.17 38.63
6/30/2018 12.98 9.18 38.46
7/31/2018 13.09 9.17 38.49
8/31/2018 13.22 9.53 39.38
9/30/2018 13.31 9.40 38.48
10/31/2018 13.15 9.56 37.39
11/30/2018 13.54 9.95 38.21
12/31/2018 14.12 10.83 40.75
Date Dividends
1/30/2009 0.034
2/27/2009 0.0332
3/31/2009 0.0336
4/30/2009 0.0322
5/29/2009 0.0309
6/30/2009 0.03
7/31/2009 0.0324
8/31/2009 0.0283
9/30/2009 0.0288
10/30/2009 0.0298
11/30/2009 0.0266
12/30/2009 0.0263
1/29/2010 0.0258
2/26/2010 0.0234
3/31/2010 0.0218
4/30/2010 0.0219
5/28/2010 0.0161
6/30/2010 0.0177
7/30/2010 0.0169
8/31/2010 0.0145
9/30/2010 0.0152
10/29/2010 0.0124
11/30/2010 0.0121
12/30/2010 0.0138
1/31/2011 0.0154
2/28/2011 0.015
3/31/2011 0.0176
4/29/2011 0.0178
5/31/2011 0.0163
6/30/2011 0.0156
7/29/2011 0.0149
8/31/2011 0.0129
9/30/2011 0.0118
10/31/2011 0.0102
11/30/2011 0.012
12/29/2011 0.0111
1/31/2012 0.0109
2/29/2012 0.0114
3/30/2012 0.0107
4/30/2012 0.0091
5/31/2012 0.0087
6/29/2012 0.0078
7/31/2012 0.0061
8/31/2012 0.009
9/28/2012 0.0056
10/31/2012 0.0069
11/30/2012 0.0065
12/28/2012 0.0479
1/31/2013 0.0065
2/28/2013 0.0072
3/28/2013 0.008
4/30/2013 0.0077
5/31/2013 0.0045
6/28/2013 0.0015
7/31/2013 0.0028
8/30/2013 0.004
9/30/2013 0.004
10/31/2013 0.0046
11/29/2013 0.0055
12/30/2013 0.0566
1/31/2014 0.0034
2/28/2014 0.0048
3/31/2014 0.0045
4/30/2014 0.0047
5/30/2014 0.0036
6/30/2014 0.003
7/31/2014 0.0028
8/29/2014 0.0044
9/30/2014 0.0038
10/31/2014 0.0043
11/28/2014 0.0039
12/31/2014 0.0503
1/30/2015 0.0049
2/27/2015 0.004
3/31/2015 0.0043
4/30/2015 0.0051
5/29/2015 0.0044
6/30/2015 0.0044
7/31/2015 0.0048
8/31/2015 0.0049
9/30/2015 0.0041
10/30/2015 0.0023
11/30/2015 0.0023
12/31/2015 0.0175
1/29/2016 0.0018
2/29/2016 0.0023
3/31/2016 0.0014
4/29/2016 0.0019
5/31/2016 0.0017
6/30/2016 0.0014
7/29/2016 0.001
8/31/2016 0.0014
9/30/2016 0.0015
10/31/2016 0.0012
11/30/2016 0.0017
12/30/2016 0.0181
1/31/2017 0.0016
2/28/2017 0.0021
3/31/2017 0.0019
4/28/2017 0.0018
5/31/2017 0.0026
6/30/2017 0.0028
7/31/2017 0.0027
8/31/2017 0.0035
9/29/2017 0.0032
10/31/2017 0.0025
11/30/2017 0.0032
12/29/2017 0.0196
1/31/2018 0.0038
2/28/2018 0.0031
3/29/2018 0.0032
4/30/2018 0.0037
5/31/2018 0.0034
6/29/2018 0.0042
7/31/2018 0.0042
8/31/2018 0.0047
9/28/2018 0.0037
10/31/2018 0.0036
11/30/2018 0.0049
12/31/2018 0.022

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

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 01/18/2019

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

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

Portfolio

Top Fixed Income Sectors

(100.0% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Credit Rating Allocation 6
Country Limited-Term Government Fund Bloomberg Barclays US Govt 1-3 Year Bond Index Overweight / Underweight
United States 110.7% 100.0% 10.7%
Developed Markets Limited-Term Government Fund Bloomberg Barclays US Govt 1-3 Year Bond Index Overweight / Underweight
Americas 110.7% 100.0% 10.7%
Credit Rating Allocation Limited-Term Government Fund Bloomberg Barclays US Govt 1-3 Year Bond Index Overweight / Underweight
Agency 87.6% 5.1% 82.5%
AAA 12.2% 0.1% 12.1%
AA 0.9% - -
A 3.8% - -
BBB 3.9% - -
CCC 0.1% - -
Unrated 2.1% 0.0% 2.0%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
100
Category
Short Government
Performance Statistics
3Y
5Y
Alpha
-0.91
-0.78
Beta
0.89
1.00
Information Ratio
-1.64
-1.49
R-Squared
66.59
68.45
Sharpe Ratio
-1.09
-0.66
Standard Deviation
0.93
0.92
Sortino Ratio
-1.24
-0.82
Tracking Error
0.55
0.53
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
6.00%
Standardized Yield
1.91%
Unsubsidized Yield
1.88%
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
3.46%
-
Yield to Worst
3.16%
2.52%
Current Duration
2.40 yrs
-
Average Coupon
3.62%
-
Convexity
-0.8
0.0
Option Adjusted Spread
42 bps
0 bps
Turnover Ratio
75%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
12/31/2018
Per Share ($)
$0.0220
12-Month Distribution ($)
$0.0646
Distribution Sources
  • E
Net Income
29.80%
Net Profit from Sale
0.00%
Other Capital Sources
70.20%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. The fund's investment objective changed from "seeks high current return and safety of principal" to "seeks income" on 12/28/12.
  2. 2. 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. Mortgage-backed securities are subject to prepayment risk. U.S. Government securities are backed by the full faith and credit of the U.S. Government, meaning, that payment of interest and principal is guaranteed, but yield and market value are not. May invest up to 20% in non-U.S. Government securities, which carry greater credit risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.
  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 Bloomberg Barclays U.S. Government 1-3 Year Bond Index is composed of treasury bond and agency bond indices that have maturities of one to three years. The index is unmanaged 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. 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.
  7. 7. 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.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  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 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.
  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.
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