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OPYMX

Oppenheimer Municipal Fund

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Overview

The Strategy typically invests in municipal bonds issued across the United States.

Inception Date
July 29, 2011
Investment Style
Oppenheimer Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683833404
NAV
  • A
(as of 11/15/2018)
$12.53
Total Assets
(as of 10/31/2018)
$97.89 MM
Gross Expense Ratio
(as of 10/31/2018)
0.72%
Net Expense Ratio
(as of 10/31/2018)
0.57%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • F
as of 09/30/2018
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Oppenheimer Municipal Fund (NAV)
1.78% 2.45% 2.78% 4.82% - 4.99%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% 4.03%
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Oppenheimer Municipal Fund (NAV)
1.15% 1.87% 2.50% 4.48% - 4.84%
Bloomberg Barclays Municipal Index
-1.01% -0.51% 1.90% 3.25% 4.80% 3.95%
Gross Expense Ratio: 0.72% | Net Expense Ratio: 0.57%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Oppenheimer Municipal Fund Bloomberg Barclays Municipal Index
2012 10.62% 6.78%
2013 -4.18% -2.55%
2014 13.36% 9.05%
2015 3.35% 3.30%
2016 0.62% 0.25%
2017 4.53% 5.45%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Oppenheimer Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
10/31/2008 0.00 0.00 0.00
11/30/2008 -1.78 0.32 3.25
12/31/2008 -11.63 1.78 7.11
1/31/2009 -4.63 5.51 6.16
2/28/2009 -1.45 6.06 5.76
3/31/2009 -0.65 6.08 7.23
4/30/2009 2.47 8.20 7.74
5/31/2009 6.38 9.34 8.53
6/30/2009 6.44 8.32 9.14
7/31/2009 8.14 10.13 10.90
8/31/2009 11.24 12.01 12.05
9/30/2009 22.14 16.03 13.23
10/31/2009 21.83 13.60 13.79
11/30/2009 23.04 14.54 15.26
12/31/2009 24.37 14.92 13.46
1/31/2010 26.13 15.52 15.19
2/28/2010 28.00 16.64 15.62
3/31/2010 28.51 16.36 15.48
4/30/2010 29.72 17.78 16.68
5/31/2010 31.20 18.66 17.66
6/30/2010 31.70 18.73 19.51
7/31/2010 33.59 20.21 20.79
8/31/2010 37.33 22.96 22.34
9/30/2010 37.92 22.77 22.47
10/31/2010 37.44 22.43 22.91
11/30/2010 32.98 19.98 22.20
12/31/2010 29.50 17.66 20.88
1/31/2011 27.04 16.79 21.02
2/28/2011 29.67 18.65 21.32
3/31/2011 29.59 18.26 21.39
4/30/2011 32.31 20.37 22.93
5/31/2011 35.59 22.43 24.54
6/30/2011 36.87 22.86 24.17
7/31/2011 39.05 24.11 26.14
8/31/2011 41.30 26.23 27.99
9/30/2011 44.56 27.54 28.92
10/31/2011 44.13 27.07 29.06
11/30/2011 44.96 27.82 28.94
12/31/2011 48.17 30.25 30.36
1/31/2012 52.87 33.26 31.51
2/29/2012 53.70 33.39 31.48
3/31/2012 53.32 32.52 30.75
4/30/2012 55.00 34.05 32.20
5/31/2012 57.43 35.17 33.40
6/30/2012 57.72 35.02 33.45
7/31/2012 60.38 37.16 35.29
8/31/2012 61.05 37.32 35.38
9/30/2012 62.06 38.15 35.57
10/31/2012 62.51 38.54 35.83
11/30/2012 65.72 40.82 36.05
12/31/2012 63.79 39.08 35.86
1/31/2013 64.82 39.66 34.91
2/28/2013 65.29 40.08 35.58
3/31/2013 64.75 39.48 35.69
4/30/2013 66.64 41.00 37.06
5/31/2013 65.24 39.28 34.62
6/30/2013 57.93 35.34 32.54
7/31/2013 55.42 34.16 32.72
8/31/2013 52.37 32.24 32.04
9/30/2013 55.44 35.09 33.29
10/31/2013 57.02 36.15 34.37
11/30/2013 57.00 35.87 33.86
12/31/2013 56.83 35.53 33.11
1/31/2014 61.11 38.17 35.07
2/28/2014 63.79 39.79 35.79
3/31/2014 65.32 40.02 35.56
4/30/2014 67.50 41.70 36.70
5/31/2014 70.31 43.53 38.26
6/30/2014 70.80 43.65 38.33
7/31/2014 71.44 43.91 37.98
8/31/2014 74.14 45.65 39.51
9/30/2014 75.02 45.80 38.56
10/31/2014 76.28 46.80 39.92
11/30/2014 76.34 47.05 40.92
12/31/2014 77.68 47.79 41.05
1/31/2015 80.16 50.41 44.00
2/28/2015 78.73 48.86 42.65
3/31/2015 79.50 49.29 43.31
4/30/2015 78.74 48.51 42.80
5/31/2015 79.02 48.10 42.45
6/30/2015 78.49 47.96 40.90
7/31/2015 79.60 49.03 41.88
8/31/2015 79.90 49.33 41.68
9/30/2015 80.90 50.41 42.64
10/31/2015 81.30 51.01 42.66
11/30/2015 82.14 51.61 42.28
12/31/2015 83.46 52.67 41.82
1/31/2016 84.81 54.49 43.77
2/29/2016 84.95 54.74 44.79
3/31/2016 85.81 55.23 46.12
4/30/2016 87.01 56.37 46.68
5/31/2016 88.05 56.79 46.72
6/30/2016 91.32 59.29 49.36
7/31/2016 91.26 59.38 50.30
8/31/2016 91.56 59.60 50.13
9/30/2016 91.04 58.80 50.04
10/31/2016 89.79 57.14 48.89
11/30/2016 82.98 51.28 45.37
12/31/2016 84.44 53.05 45.58
1/31/2017 85.01 54.06 45.86
2/28/2017 86.28 55.13 46.84
3/31/2017 86.50 55.47 46.77
4/30/2017 87.70 56.59 47.90
5/31/2017 89.93 59.08 49.04
6/30/2017 89.99 58.51 48.89
7/31/2017 90.92 59.79 49.53
8/31/2017 92.27 61.01 50.87
9/30/2017 91.44 60.19 50.15
10/31/2017 91.34 60.58 50.24
11/30/2017 90.86 59.72 50.04
12/31/2017 92.67 61.39 50.73
1/31/2018 91.61 59.49 49.00
2/28/2018 91.41 59.01 47.58
3/31/2018 93.01 59.60 48.53
4/30/2018 92.89 59.03 47.43
5/31/2018 94.43 60.85 48.48
6/30/2018 95.26 60.99 48.30
7/31/2018 95.74 61.38 48.33
8/31/2018 96.75 61.79 49.29
9/30/2018 96.01 60.75 48.32
10/31/2018 94.78 59.76 47.15
Date Dividends
11/26/2013 0.0432
12/30/2013 0.0429
1/28/2014 0.043
2/25/2014 0.0461
3/25/2014 0.0456
4/22/2014 0.0464
5/27/2014 0.0473
6/24/2014 0.047
7/22/2014 0.0468
8/26/2014 0.0471
9/23/2014 0.0468
10/28/2014 0.0472
11/25/2014 0.0467
12/31/2014 0.047
1/27/2015 0.0468
2/24/2015 0.0449
3/24/2015 0.0449
4/21/2015 0.045
5/26/2015 0.0455
6/23/2015 0.042
7/28/2015 0.0423
8/25/2015 0.0419
9/22/2015 0.0418
10/27/2015 0.0415
11/24/2015 0.0417
12/31/2015 0.0423
1/26/2016 0.0398
2/23/2016 0.0398
3/22/2016 0.0397
4/26/2016 0.04
5/24/2016 0.0399
6/21/2016 0.0398
7/26/2016 0.0402
8/23/2016 0.0399
9/27/2016 0.0403
10/25/2016 0.04
11/22/2016 0.0398
12/30/2016 0.0401
1/24/2017 0.0393
2/21/2017 0.0392
3/28/2017 0.0392
4/25/2017 0.0394
5/23/2017 0.0398
6/27/2017 0.0401
7/25/2017 0.0399
8/22/2017 0.0399
9/26/2017 0.04
10/24/2017 0.0398
11/21/2017 0.0397
12/29/2017 0.0402
1/23/2018 0.0392
2/20/2018 0.0397
3/27/2018 0.0399
4/24/2018 0.0396
5/22/2018 0.0396
6/26/2018 0.0381
7/24/2018 0.0402
8/28/2018 0.0402
9/25/2018 0.0396
10/23/2018 0.0399

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 investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y 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 11/15/2018

Date 2013 2014 2015 2016 2017
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

(95.7% of assets as of 10/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 9
Asset Allocation Oppenheimer Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 95.7% 100.0% -4.3%
State Oppenheimer Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Minnesota 72.6% 1.1% 71.5%
Massachusetts 2.9% 4.0% -1.1%
New York 2.7% 15.5% -12.8%
Utah 1.1% 0.5% 0.6%
California 0.8% 16.8% -16.0%
Ohio 0.6% 2.4% -1.8%
Michigan 0.2% 1.7% -1.5%
Iowa 0.2% 0.2% 0.0%
Florida 0.1% 4.4% -4.3%
Illinois 0.1% 4.6% -4.4%
Credit Rating Allocation Oppenheimer Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 9.1% 22.4% -13.3%
AA 14.1% 53.5% -39.4%
A 25.1% 18.0% 7.1%
BBB 19.8% 4.8% 15.1%
BB 5.3% - -
B 0.3% - -
Unrated 22.0% 1.3% 20.6%
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
50
Category
Muni Minnesota
Performance Statistics
3Y
5Y
Alpha
0.73
1.42
Beta
0.84
0.91
Information Ratio
0.66
1.27
R-Squared
93.44
90.15
Sharpe Ratio
0.53
1.30
Standard Deviation
2.91
2.91
Sortino Ratio
0.69
2.14
Tracking Error
0.91
0.97
Yields
Dividend Yield (w/o sales charge)
3.82%
Standardized Yield
2.97%
Unsubsidized Yield
2.87%
Taxable Equivalent Yield
5.60%
Interest Income 12/31/2017
Exposed to AMT
6.08%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
5.83 yrs
6.19 yrs
Current Duration
4.20 yrs
6.50 yrs
Turnover Ratio
9%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
10/23/2018
Per Share ($)
$0.0399
12-Month Distribution ($)
$0.4760
Distribution Sources
  • D
Net Income
89.50%
Net Profit from Sale
0.00%
Other Capital Sources
10.50%
Tools
Documents
  1. 1. A portion of a municipal bond fund’s distributions may be subject to the alternative minimum tax (AMT). Capital gains distributions are taxable as capital gains.
  2. 2. Before October 15, 2018, Oppenheimer Municipal Fund was known as Oppenheimer Rochester Minnesota Municipal and, under normal market conditions, invested at least 80% of its net assets (plus borrowings for investment purposes) in Minnesota municipal securities. On October 15, 2018, the Fund changed its investment strategy from a strategy focused on investing in Minnesota municipal securities to a national municipal bond strategy. Past performance, therefore, is not indicative of future results.
  3. 3. 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. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Large sector holdings may expose investors to greater volatility and special risks associated with that sector. May invest substantially in municipal securities within a single state or related to similar type projects, which can increase volatility and exposure to regional issues. May invest in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Inverse floaters can be more volatile than conventional fixed-rate bonds and entail the use of leverage. The Fund may invest in the segment of the municipal bond market that is unrated by a Nationally Recognized Statistical Rating Organization (“NRSRO”).  Under certain market conditions, some unrated securities may trade less actively than rated securities.
  4. 4. The net expense ratio is not the result of a fee waiver or expense reimbursement.
  5. 5. The net expense ratio represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investments in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets these expenses; the Fund's total returns and net asset values are not affected by those offsets.
  6. 6. 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.
  7. 7. The Bloomberg Barclays Municipal Bond Index is an unmanaged index of a broad range of investment-grade municipal bonds that measures the performance of the general municipal bond market. 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.
  8. 8. 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.
  9. 9. All securities except for those labeled "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, Inc. converts that rating to the equivalent S&P rating.  If two or more NRSROs have assigned a rating to a security, the highest rating is used. Unrated securities do not necessarily indicate low credit quality.  The credit rating table values may not total 100% due to rounding.  

    "Investment-grade" securities are securities rated within the NRSROs four highest rating categories (AAA, AA, A and BBB.)  Securities not rated by an NRSRO may or may not be equivalent of investment grade. For further details, please consult the Fund's Prospectus or Statement of Additional Information.
  10. 10. 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.
  11. 11. 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.
  12. 12. Taxable equivalent yield is based on the standardized yield and the top federal and tax rate of 43.4% for 2017 and assumes that the federal Alternative Minimum Tax (AMT) does not apply. Calculations factor in the 3.8% tax on unearned income under the Patient Protection and Affordable Care Act, as applicable.
  13. 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.
  14. 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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  15. 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.
  16. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  17. 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.
  18. F. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y 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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