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ORECX

Real Estate Fund

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Overview

The Strategy typically invests in real estate securities, primarily real estate investment trusts (REITs).

Inception Date
October 1, 2003
Investment Style
Real Estate
Fund Index
FTSE NAREIT Equity REITs TR Index
CUSIP
68382F309
NAV
  • A
(as of 08/20/2018)
$24.65
Total Assets
(as of 07/31/2018)
$1.01 BN
Gross Expense Ratio
(as of 07/31/2018)
2.18%
Net Expense Ratio
(as of 07/31/2018)
2.08%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 07/31/2018
  • 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
Real Estate Fund (NAV)
-0.92% 1.36% 5.43% 7.04% 6.46% 8.51%
FTSE NAREIT Equity REITs TR Index
1.02% 3.50% 8.06% 8.31% 7.94% -
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (with sales charge)
-1.91% 0.38% 5.43% 7.04% 6.46% 8.51%
FTSE NAREIT Equity REITs TR Index
1.02% 3.50% 8.06% 8.31% 7.94% -
Cumulative
Annualized
ytd as of 2018-07-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (NAV)
0.04% 1.75% 3.73% 7.05% 6.25% 8.53%
FTSE NAREIT Equity REITs TR Index
1.83% 3.07% 6.39% 8.28% 7.66% -
Cumulative
Annualized
ytd as of 2018-07-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (with sales charge)
-0.96% 0.78% 3.73% 7.05% 6.25% 8.53%
FTSE NAREIT Equity REITs TR Index
1.83% 3.07% 6.39% 8.28% 7.66% -
Gross Expense Ratio: 2.18% | Net Expense Ratio: 2.08%

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 Real Estate Fund FTSE NAREIT Equity REITs TR Index
2004 35.26% 31.58%
2005 13.30% 12.16%
2006 34.48% 35.06%
2007 -15.44% -15.69%
2008 -39.70% -37.73%
2009 29.04% 27.99%
2010 26.17% 27.96%
2011 7.29% 8.29%
2012 14.80% 18.06%
2013 2.05% 2.47%
2014 30.42% 30.14%
2015 1.63% 3.20%
2016 5.26% 8.52%
2017 3.28% 5.23%

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 Real Estate Fund FTSE NAREIT Equity REITs Index BBG Barclays Agg S&P 500
7/31/2008 0.00 0.00 0.00 0.00
8/31/2008 2.49 2.21 0.95 1.45
9/30/2008 1.91 2.01 -0.41 -7.59
10/31/2008 -29.32 -30.29 -2.76 -23.11
11/30/2008 -45.15 -46.36 0.41 -28.63
12/31/2008 -37.64 -37.57 4.15 -27.87
1/31/2009 -48.08 -48.38 3.23 -33.95
2/28/2009 -58.42 -59.13 2.84 -40.98
3/31/2009 -57.46 -57.47 4.27 -35.81
4/30/2009 -43.02 -44.27 4.77 -29.67
5/31/2009 -41.69 -43.07 5.53 -25.74
6/30/2009 -44.01 -45.20 6.13 -25.59
7/31/2009 -38.17 -39.46 7.85 -19.96
8/31/2009 -29.70 -31.35 8.96 -17.07
9/30/2009 -25.63 -26.96 10.11 -13.98
10/31/2009 -28.90 -30.25 10.65 -15.57
11/30/2009 -24.06 -25.43 12.08 -10.51
12/31/2009 -18.95 -20.10 10.33 -8.78
1/31/2010 -23.57 -24.26 12.02 -12.06
2/28/2010 -19.00 -20.22 12.43 -9.34
3/31/2010 -11.09 -12.09 12.30 -3.87
4/30/2010 -4.83 -5.99 13.47 -2.35
5/31/2010 -9.78 -11.20 14.42 -10.15
6/30/2010 -14.87 -15.66 16.21 -14.85
7/31/2010 -6.44 -7.63 17.45 -8.89
8/31/2010 -7.97 -8.91 18.97 -13.00
9/30/2010 -4.01 -4.84 19.09 -5.23
10/31/2010 -0.05 -0.37 19.52 -1.63
11/30/2010 -1.92 -2.32 18.83 -1.62
12/31/2010 3.08 2.24 17.55 4.96
1/31/2011 6.32 5.56 17.68 7.45
2/28/2011 11.88 10.44 17.98 11.13
3/31/2011 10.31 8.73 18.04 11.17
4/30/2011 16.59 14.93 19.54 14.46
5/31/2011 18.46 16.52 21.10 13.17
6/30/2011 14.54 12.67 20.75 11.28
7/31/2011 16.53 14.40 22.66 9.02
8/31/2011 9.03 7.92 24.46 3.10
9/30/2011 -3.29 -3.91 25.36 -4.15
10/31/2011 10.30 9.93 25.50 6.33
11/30/2011 6.38 5.78 25.39 6.09
12/31/2011 11.45 10.72 26.77 7.18
1/31/2012 18.54 17.92 27.88 11.98
2/29/2012 16.99 16.66 27.85 16.82
3/31/2012 22.78 22.67 27.15 20.67
4/30/2012 26.23 26.20 28.56 19.91
5/31/2012 19.67 20.47 29.72 12.70
6/30/2012 26.00 27.23 29.77 17.34
7/31/2012 28.45 29.71 31.56 18.97
8/31/2012 28.29 29.74 31.65 21.65
9/30/2012 25.86 27.43 31.83 24.80
10/31/2012 24.79 26.36 32.09 22.49
11/30/2012 24.68 26.00 32.30 23.20
12/31/2012 28.89 30.72 32.11 24.33
1/31/2013 33.18 35.61 31.18 30.77
2/28/2013 33.69 37.32 31.84 32.54
3/31/2013 38.11 41.42 31.95 37.51
4/30/2013 46.54 50.87 33.28 40.16
5/31/2013 37.94 41.93 30.90 43.44
6/30/2013 34.14 39.20 28.88 41.51
7/31/2013 35.45 40.53 29.06 48.72
8/31/2013 26.33 30.74 28.40 44.41
9/30/2013 31.65 34.90 29.61 48.94
10/31/2013 37.95 40.95 30.66 55.78
11/30/2013 32.28 33.63 30.17 60.53
12/31/2013 32.55 33.94 29.44 64.59
1/31/2014 36.79 39.49 31.35 58.90
2/28/2014 44.07 46.48 32.05 66.17
3/31/2014 45.18 47.31 31.82 67.57
4/30/2014 49.95 52.19 32.93 68.81
5/31/2014 53.28 55.86 34.45 72.77
6/30/2014 55.25 57.59 34.52 76.34
7/31/2014 55.14 57.65 34.18 73.91
8/31/2014 59.23 62.30 35.66 80.87
9/30/2014 50.13 52.63 34.74 78.33
10/31/2014 66.83 67.81 36.06 82.68
11/30/2014 69.90 71.11 37.03 87.60
12/31/2014 74.17 74.31 37.16 87.13
1/31/2015 85.06 86.00 40.03 81.51
2/28/2015 79.58 79.53 38.72 91.94
3/31/2015 82.90 82.59 39.36 88.90
4/30/2015 71.99 72.56 38.86 90.72
5/31/2015 71.50 72.35 38.53 93.17
6/30/2015 63.27 64.42 37.02 89.43
7/31/2015 73.25 73.69 37.97 93.40
8/31/2015 62.60 62.94 37.77 81.73
9/30/2015 67.40 67.71 38.70 77.23
10/31/2015 75.90 77.55 38.72 92.18
11/30/2015 75.10 76.63 38.36 92.75
12/31/2015 78.33 79.88 37.91 89.71
1/31/2016 71.64 73.85 39.81 80.30
2/29/2016 70.63 73.12 40.80 80.06
3/31/2016 87.09 90.68 42.09 92.27
4/30/2016 82.19 86.13 42.64 93.02
5/31/2016 87.36 90.65 42.67 96.48
6/30/2016 100.55 103.95 45.24 96.99
7/31/2016 107.97 112.41 46.16 104.26
8/31/2016 101.16 104.62 45.99 104.54
9/30/2016 96.81 101.02 45.90 104.58
10/31/2016 86.22 89.65 44.79 100.85
11/30/2016 82.08 86.46 41.36 108.29
12/31/2016 89.15 95.21 41.56 112.40
1/31/2017 87.48 95.43 41.84 116.43
2/28/2017 94.68 102.09 42.79 125.03
3/31/2017 90.24 97.47 42.72 125.29
4/30/2017 90.55 97.72 43.82 127.60
5/31/2017 88.27 96.19 44.93 130.81
6/30/2017 91.68 100.48 44.78 132.25
7/31/2017 92.90 102.93 45.40 137.02
8/31/2017 94.65 102.41 46.71 137.75
9/30/2017 93.08 102.36 46.01 142.65
10/31/2017 92.31 100.41 46.09 148.31
11/30/2017 97.05 105.84 45.91 155.93
12/31/2017 96.83 105.41 46.58 158.78
1/31/2018 90.14 96.82 44.89 173.59
2/28/2018 76.76 81.65 43.51 163.51
3/31/2018 83.84 88.57 44.44 156.81
4/30/2018 85.27 91.27 43.36 157.80
5/31/2018 89.98 98.82 44.38 164.00
6/30/2018 95.73 107.49 44.21 165.63
7/31/2018 97.73 109.16 44.24 175.51
Date Dividends
9/25/2008 0.0971
6/18/2009 0.1138
9/24/2009 0.0702
3/18/2010 0.0031
6/24/2010 0.0581
9/23/2010 0.0446
6/23/2011 0.0013
12/16/2011 0.0206
3/22/2012 0.0504
6/21/2012 0.037
9/20/2012 0.0574
12/14/2012 0.1108
3/21/2013 0.0135
6/20/2013 0.1218
9/19/2013 0.0635
12/13/2013 0.0
3/20/2014 0.0144
6/19/2014 0.0764
9/18/2014 0.0765
12/11/2014 0.0694
12/29/2014 0.0457
3/18/2015 0.0004
6/17/2015 0.07
9/23/2015 0.1204
12/10/2015 0.135
3/23/2016 0.033
6/22/2016 0.0682
9/21/2016 0.1414
12/8/2016 0.1565
3/22/2017 0.0406
6/21/2017 0.0323
9/20/2017 0.0374
12/7/2017 0.0083
12/27/2017 0.0262
6/20/2018 0.0375

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 08/20/2018

Date 2013 2014 2015 2016 2017
Short Term 0.1761 0.4868 0.4472
Long Term 0.0032 1.0441 1.5582 2.2193 0.9024
Total Amount of Distribution 0.0032 1.2201 2.0449 2.6665 0.9024
Record Date 12/11/13 12/10/14 12/9/15 12/7/16 12/6/17
Ex Div Date 12/12/13 12/11/14 12/10/15 12/8/16 12/7/17
Pay Date 12/13/13 12/11/14 12/10/15 12/8/16 12/7/17

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

Portfolio

Top Issuers

(72.8% of assets as of 07/31/2018)


Portfolio Holdings Breakdown

Country
Equity Sector
Asset Allocation
Market Cap 7
Country Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
United States 98.6% 100.0% -1.4%
Equity Sector Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Apartments 14.6% 12.9% 1.8%
Data Centers 12.5% 8.3% 4.3%
Office 11.7% 11.3% 0.5%
Industrial 9.9% 9.5% 0.4%
Health Care 9.7% 11.0% -1.2%
Lodging/Resorts 8.6% 6.8% 1.8%
Regional Malls 6.5% 9.5% -3.0%
Shopping Centers 5.8% 6.1% -0.3%
Single Family Homes 4.3% 1.5% 2.8%
Free Standing 3.9% 4.1% -0.2%
Manufactured Homes 3.5% 1.8% 1.7%
Self Storage 1.9% 6.4% -4.4%
Specialty 1.7% 5.0% -3.3%
Diversified 1.6% 5.9% -4.3%
Infrastructure Reits 1.1% - -
Home Financing 1.0% - -
Asset Allocation Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Equity 98.6% 100.0% -1.4%
Market Cap Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Mid 52.4% 51.5% 0.9%
Large 37.9% 35.2% 2.6%
Small 8.3% 13.2% -4.9%
Analytics
(As of 07/31/2018)

Morningstar 07/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
231
Category
Real Estate
Performance Statistics
3Y
5Y
Alpha
-2.24
-0.94
Beta
0.94
0.97
Information Ratio
-1.34
-0.63
R-Squared
97.86
98.04
Sharpe Ratio
0.29
0.54
Standard Deviation
12.39
13.54
Sortino Ratio
0.13
0.25
Tracking Error
1.99
1.94
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
6/20/2018
Per Share ($)
$0.0375
12-Month Distribution ($)
$0.1095
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
35.49
32.62
P/E Ratio (NTM)
40.08
38.18
Price/Book
2.27
2.29
Turnover Ratio
84%
-
Distribution Rate
Distribution
0.64%
Adjusted Distribution
0.43%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. The Fund's portfolio managers are employed by its Sub-Sub-Adviser, Barings LLC.
  2. 2. Special Risks: Investments in real estate companies, including REITs or similar structures, are subject to volatility and risk. Smaller real estate companies may also be subject to liquidity risk. Small-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 small-sized company, if any gain is realized at all. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
  3. 3. The Fund intends to declare and pay dividends quarterly. At the time of the distribution, the amounts attributed to each category (dividend income, return of capital and/or capital gains) are estimated using historical information because the character of the amounts received from underlying real estate investment trusts ("REITs") is unknown until after the end of the calendar year. The amount distributed to shareholders is based on the underlying REIT distributions received less fund expenses. The distribution rate is based on the ex-dividend date immediately preceding the nearest month-end or quarter-end. The ex-dividend date is the day before the pay date. The distribution rate 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. Each result is compounded semiannually and annualized. Adjusted distribution rate for each share class is based on the Fund's distributed income less an estimate of the average return of capital based on historical ratios from the past three calendar years and that date's net asset value. The result is compounded semiannually and annualized. Falling share prices artificially increase distribution rates. Please note that OppenheimerFunds, Inc. is not quoting a 30-day SEC yield. See the Fund's prospectus for more information.
  4. 4. 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.
  5. 5. Access index definitions.
  6. 6. 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.
  7. 7. 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.
  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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