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ONYYX

Rochester®®®® AMT-Free New York Municipal Fund

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Overview

The Strategy typically invests in New York municipal bonds.

Inception Date
January 31, 2011
Investment Style
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683913404
NAV
  • A
(as of 01/22/2018)
$10.77
Total Assets
(as of 12/31/2017)
$941.00 MM
Gross Expense Ratio
(as of 12/31/2017)
0.90%
Net Expense Ratio
(as of 12/31/2017)
0.90%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
  • H
as of 12/31/2017
  • H

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr since inception
Rochester® AMT-Free New York Municipal Fund (NAV)
-1.98% 1.77% 1.77% 3.50% 2.60% 6.16%
Bloomberg Barclays Municipal Index
0.75% 5.45% 5.45% 2.98% 3.02% -
Cumulative
Annualized
3 mo ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr since inception
Rochester® AMT-Free New York Municipal Fund (NAV)
-1.98% 1.77% 1.77% 3.50% 2.60% 6.16%
Bloomberg Barclays Municipal Index
0.75% 5.45% 5.45% 2.98% 3.02% -
Gross Expense Ratio: 0.90% | Net Expense Ratio: 0.83%

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 Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index
2012 13.91% 6.78%
2013 -10.43% -2.55%
2014 14.46% 9.05%
2015 4.51% 3.30%
2016 4.25% 0.25%
2017 1.77% 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 Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
12/31/2007 0.00 0.00 0.00
1/31/2008 0.46 1.26 1.68
2/29/2008 -7.56 -3.37 1.82
3/31/2008 -4.57 -0.61 2.17
4/30/2008 -2.07 0.55 1.95
5/31/2008 -1.14 1.16 1.21
6/30/2008 -2.44 0.02 1.13
7/31/2008 -3.82 0.40 1.04
8/31/2008 -1.87 1.57 2.00
9/30/2008 -11.91 -3.19 0.63
10/31/2008 -21.89 -4.18 -1.74
11/30/2008 -24.34 -3.88 1.45
12/31/2008 -29.02 -2.47 5.24
1/31/2009 -24.30 1.10 4.31
2/28/2009 -22.96 1.63 3.92
3/31/2009 -24.38 1.65 5.36
4/30/2009 -19.92 3.68 5.87
5/31/2009 -14.78 4.77 6.63
6/30/2009 -16.25 3.79 7.24
7/31/2009 -14.16 5.53 8.97
8/31/2009 -7.64 7.33 10.10
9/30/2009 3.83 11.18 11.26
10/31/2009 -0.43 8.85 11.80
11/30/2009 -0.52 9.75 13.25
12/31/2009 0.40 10.12 11.48
1/31/2010 1.67 10.69 13.18
2/28/2010 3.23 11.77 13.61
3/31/2010 4.19 11.50 13.47
4/30/2010 6.58 12.85 14.65
5/31/2010 7.73 13.70 15.61
6/30/2010 5.95 13.77 17.43
7/31/2010 7.82 15.19 18.68
8/31/2010 11.14 17.82 20.21
9/30/2010 12.04 17.64 20.33
10/31/2010 12.89 17.31 20.76
11/30/2010 6.48 14.97 20.07
12/31/2010 2.85 12.74 18.77
1/31/2011 -0.11 11.91 18.91
2/28/2011 0.81 13.69 19.21
3/31/2011 0.04 13.31 19.28
4/30/2011 2.07 15.34 20.79
5/31/2011 4.99 17.31 22.37
6/30/2011 6.72 17.72 22.01
7/31/2011 8.41 18.92 23.94
8/31/2011 9.48 20.96 25.76
9/30/2011 13.29 22.21 26.67
10/31/2011 12.77 21.75 26.81
11/30/2011 13.23 22.47 26.70
12/31/2011 16.30 24.80 28.09
1/31/2012 21.39 27.69 29.21
2/29/2012 22.37 27.82 29.18
3/31/2012 21.69 26.98 28.48
4/30/2012 23.64 28.45 29.90
5/31/2012 25.50 29.52 31.07
6/30/2012 25.42 29.38 31.13
7/31/2012 28.32 31.43 32.94
8/31/2012 28.81 31.58 33.02
9/30/2012 29.38 32.37 33.20
10/31/2012 30.85 32.75 33.47
11/30/2012 34.69 34.93 33.68
12/31/2012 32.20 33.26 33.49
1/31/2013 34.35 33.82 32.55
2/28/2013 34.90 34.23 33.22
3/31/2013 33.82 33.65 33.32
4/30/2013 35.94 35.11 34.67
5/31/2013 34.66 33.46 32.27
6/30/2013 27.16 29.68 30.22
7/31/2013 23.24 28.55 30.40
8/31/2013 17.39 26.71 29.74
9/30/2013 20.75 29.44 30.96
10/31/2013 21.48 30.46 32.02
11/30/2013 20.65 30.19 31.53
12/31/2013 18.12 29.86 30.79
1/31/2014 21.77 32.39 32.72
2/28/2014 25.69 33.94 33.42
3/31/2014 25.98 34.17 33.20
4/30/2014 27.52 35.78 34.32
5/31/2014 31.22 37.53 35.85
6/30/2014 29.06 37.65 35.92
7/31/2014 29.13 37.89 35.58
8/31/2014 32.54 39.56 37.08
9/30/2014 33.16 39.70 36.15
10/31/2014 33.18 40.66 37.48
11/30/2014 33.89 40.90 38.46
12/31/2014 34.90 41.62 38.59
1/31/2015 37.80 44.13 41.49
2/28/2015 37.44 42.64 40.16
3/31/2015 37.60 43.05 40.81
4/30/2015 36.63 42.30 40.31
5/31/2015 37.81 41.91 39.97
6/30/2015 34.98 41.78 38.45
7/31/2015 36.20 42.80 39.41
8/31/2015 36.96 43.08 39.21
9/30/2015 38.57 44.12 40.15
10/31/2015 39.03 44.69 40.17
11/30/2015 39.76 45.27 39.80
12/31/2015 40.53 46.29 39.35
1/31/2016 41.26 48.04 41.27
2/29/2016 41.88 48.27 42.27
3/31/2016 42.63 48.74 43.58
4/30/2016 43.30 49.83 44.13
5/31/2016 44.74 50.24 44.16
6/30/2016 50.40 52.63 46.75
7/31/2016 50.55 52.72 47.68
8/31/2016 50.87 52.93 47.51
9/30/2016 51.37 52.16 47.43
10/31/2016 50.01 50.57 46.30
11/30/2016 44.70 44.95 42.84
12/31/2016 46.29 46.65 43.04
1/31/2017 46.91 47.62 43.32
2/28/2017 48.16 48.65 44.28
3/31/2017 50.19 48.97 44.21
4/30/2017 52.30 50.05 45.32
5/31/2017 53.46 52.43 46.44
6/30/2017 52.75 51.88 46.29
7/31/2017 53.32 53.11 46.92
8/31/2017 54.55 54.28 48.24
9/30/2017 51.49 53.49 47.53
10/31/2017 48.25 53.87 47.62
11/30/2017 46.58 53.04 47.43
12/31/2017 48.40 54.64 0.00
Date Dividends
2/19/2013 0.0562
3/26/2013 0.0568
4/23/2013 0.0563
5/28/2013 0.0569
6/25/2013 0.0561
7/23/2013 0.0541
8/27/2013 0.0544
9/24/2013 0.0538
10/22/2013 0.054
11/26/2013 0.0553
12/30/2013 0.0553
1/28/2014 0.0549
2/25/2014 0.055
3/25/2014 0.055
4/22/2014 0.055
5/27/2014 0.0555
6/24/2014 0.0551
7/22/2014 0.055
8/26/2014 0.0556
9/23/2014 0.055
10/28/2014 0.0556
11/25/2014 0.0541
12/31/2014 0.0547
1/27/2015 0.054
2/24/2015 0.0521
3/24/2015 0.0521
4/21/2015 0.0521
5/26/2015 0.0526
6/23/2015 0.0521
7/28/2015 0.0525
8/25/2015 0.051
9/22/2015 0.0509
10/27/2015 0.0515
11/24/2015 0.051
12/31/2015 0.0517
1/26/2016 0.0509
2/23/2016 0.049
3/22/2016 0.049
4/26/2016 0.0495
5/24/2016 0.049
6/21/2016 0.0491
7/26/2016 0.0476
8/23/2016 0.0451
9/27/2016 0.0456
10/25/2016 0.0451
11/22/2016 0.0401
12/30/2016 0.0408
1/24/2017 0.0397
2/21/2017 0.037
3/28/2017 0.0375
4/25/2017 0.0371
5/23/2017 0.0371
6/27/2017 0.0346
7/25/2017 0.0311
8/22/2017 0.031
9/26/2017 0.0315
10/24/2017 0.031
11/21/2017 0.031
12/29/2017 0.0318

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 01/22/2018

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

(110.5% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

State
Credit Rating Allocation
Asset Allocation
State Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New York 96.1% 15.4% 80.7%
Puerto Rico 12.7% 0.5% 12.2%
Multistate Authority 0.9% 0.1% 0.8%
Guam 0.1% 0.2% -0.1%
Northern Marianas 0.1% - -
Credit Rating Allocation Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AA 39.5% 54.6% -15.1%
A 25.3% 18.3% 7.0%
Unrated 16.8% 0.1% 16.7%
BBB 10.0% 4.9% 5.1%
AAA 9.0% 22.1% -13.1%
CC 7.5% - -
BB 3.7% - -
Other 1.0% - -
B 0.7% - -
C 0.6% - -
Asset Allocation Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 112.4% 100.0% 12.4%
Equity 1.0% - -
Corporates 0.5% - -
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
64
Category
Muni New York Long
Performance Statistics
3Y
5Y
Alpha
0.43
-1.55
Beta
1.05
1.46
Information Ratio
0.18
-0.11
R-Squared
58.70
69.94
Sharpe Ratio
0.68
0.40
Standard Deviation
4.57
6.12
Sortino Ratio
0.29
0.16
Tracking Error
2.95
3.73
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
12/29/2017
Per Share ($)
$0.0318
12-Month Distribution ($)
$0.4101
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
8.63 yrs
5.95 yrs
Current Duration
7.10 yrs
6.10 yrs
Turnover Ratio
47.00%
-
Yields
Dividend Yield (w/o sales charge)
3.52%
Standardized Yield
2.55%
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Interest Income 12/31/2016
Exposed to AMT
0.0%
Team
Documents
  1. 1. A portion of the Fund's distributions may be subject to tax.  Capital gains distributions are taxable as capital gains.  Tax treatments of the Fund's distributions and capital gains may vary by state; investors should consult a tax advisor to determine if the Fund is appropriate for them.
  2. 2. Available to investors only in certain states.
  3. 3. Special Risks: 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 substantially 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 represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investment in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets those expenses. the Fund's total returns and net asset values are not affected by those offsets.
  5. 5. The net expense ratio is not the result of a fee waiver or expense reimbursement.
  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. Access index definitions.
  8. 8. 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.
  9. 9. 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.
  10. 10. 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.
  11. 11. Lipper Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds’ historical risk-adjusted returns, measured in local currency, relative to peers. Winners are selected using the Lipper Leader rating for Consistent Return for funds with at least 36 months of performance history as of 11/30/16. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. Other share classes may have different performance and expense characteristics. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper awards are not intended to predict future results. Licensee shall provide a conspicuous credit notice as follows: From Thomson Reuters Lipper Awards, © 2017 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. 
  12. 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.
  13. 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.
  14. 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.
  15. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  16. E. Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion.
  17. F. 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 contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B 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. G. 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.
  19. H. 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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