SDHYX

Rochester® Short Duration High Yield Municipal Fund

Overview

The strategy typically seeks investment-grade bonds the income of which is exempt from federal personal income taxes.

Inception Date
May 28, 2019
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal 5 Yr (4-6) Index
CUSIP
00141G435
NAV
(as of 08/20/2019)
$4.67
Total Assets
(as of 07/31/2019)
$1.05 BN
Gross Expense Ratio
(as of 07/31/2019)
0.94%
Net Expense Ratio
(as of 07/31/2019)
0.85%
Performance
Average Annual Total Returns
Dividends
Capital Gains Distributions
as of 07/31/2019
  • A
as of 06/30/2019
  • A

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • A
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr
Rochester® Short Duration High Yield Municipal Fund (NAV)
2.56% 6.46% 10.35% 4.03% 3.17% 4.27%
Bloomberg Barclays Municipal 5 Yr (4-6) Index
1.66% 3.80% 5.24% 1.96% 2.30% 3.22%
Cumulative
Annualized
3 mo ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr
Rochester® Short Duration High Yield Municipal Fund (with sales charge)
2.56% 6.46% 10.35% 4.03% 3.17% 4.27%
Bloomberg Barclays Municipal 5 Yr (4-6) Index
1.66% 3.80% 5.24% 1.96% 2.30% 3.22%
Cumulative
Annualized
ytd as of 2019-07-31
1 yr since inception 3 yr 5 yr 10 yr
Rochester® Short Duration High Yield Municipal Fund (NAV)
6.46% 10.35% 1.29% 4.03% 3.17% 4.27%
Bloomberg Barclays Municipal 5 Yr (4-6) Index
4.67% 5.69% - 2.11% 2.44% 3.11%
Cumulative
Annualized
ytd as of 2019-07-31
1 yr since inception 3 yr 5 yr 10 yr
Rochester® Short Duration High Yield Municipal Fund (with sales charge)
6.46% 10.35% 1.29% 4.03% 3.17% 4.27%
Bloomberg Barclays Municipal 5 Yr (4-6) Index
4.67% 5.69% - 2.11% 2.44% 3.11%
Gross Expense Ratio: 0.94% | Net Expense Ratio: 0.85%

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.


Year Rochester® Short Duration High Yield Municipal Fund

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.


Date Dividends
5/29/2019 0.0002
6/25/2019 0.0129
7/23/2019 0.0129

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.

$ per share as of 08/20/2019

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

Top Fixed Income Sectors

(100.1% of assets as of 07/31/2019)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation
Asset Allocation Rochester® Short Duration High Yield Municipal Fund Bloomberg Barclays Municipal 5 Yr (4-6) Index Overweight / Underweight
Municipal 106.8% 100.0% 6.8%
State Rochester® Short Duration High Yield Municipal Fund Bloomberg Barclays Municipal 5 Yr (4-6) Index Overweight / Underweight
Puerto Rico 14.3% 0.3% 14.0%
California 12.2% 14.0% -1.8%
Illinois 10.8% 4.6% 6.2%
District of Columbia 5.4% 1.0% 4.3%
Multistate Authority 5.3% - -
Ohio 4.8% 2.8% 2.0%
Florida 4.8% 4.1% 0.7%
Texas 4.1% 8.3% -4.2%
Pennsylvania 3.6% 3.3% 0.2%
New Jersey 3.5% 3.5% 0.0%
Georgia 3.4% 3.5% -0.1%
Massachusetts 2.8% 3.5% -0.8%
New York 2.4% 14.3% -11.9%
Louisiana 2.2% 0.7% 1.5%
Wisconsin 2.2% 1.6% 0.7%
Arizona 1.9% 2.7% -0.8%
Minnesota 1.8% 1.2% 0.6%
Alabama 1.6% 1.8% -0.2%
Indiana 1.5% 0.7% 0.9%
Michigan 1.3% 1.3% 0.0%
Credit Rating Allocation Rochester® Short Duration High Yield Municipal Fund Bloomberg Barclays Municipal 5 Yr (4-6) Index Overweight / Underweight
AAA 1.6% 21.4% -19.7%
AA 21.7% 56.0% -34.2%
A 17.1% 18.2% -1.1%
BBB 23.7% 3.2% 20.4%
BB 9.1% - -
B 2.7% - -
CCC 0.3% - -
CC 4.2% - -
C 0.8% - -
D 1.0% - -
Unrated 24.6% 1.2% 23.4%
Analytics
(As of 07/31/2019)

Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
3.35%
Standardized Yield
2.17%
Taxable Equivalent Yield
3.67%
Interest Income 12/31/2018
Exposed to AMT
13.67%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
3.54 yrs
4.32 yrs
Current Duration
3.24 yrs
3.94 yrs
Turnover Ratio
19%
-
Dividends
Est. Frequency
Monthly
Last Pay Date
7/23/2019
Per Share ($)
$0.0129
12-Month Distribution ($)
$0.0261
Team
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. 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 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.
  3. 3. 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.
  4. 4. 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.
  5. A. Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.
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