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Rochester®® Short Term Municipal Fund

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Overview

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

Inception Date
December 6, 2010
Investment Style
National
Fund Index
Bloomberg Barclays Municipal 1 Yr (1-2) Index
CUSIP
68385Y206
NAV
  • A
(as of 11/21/2017)
$3.74
Total Assets
(as of 10/31/2017)
$1.09 BN
Gross Expense Ratio
(as of 10/31/2017)
1.60%
Net Expense Ratio
(as of 10/31/2017)
1.60%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2017
  • E
as of 09/30/2017
  • E

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • E
Cumulative
Annualized
3 mo ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr since inception
Rochester® Short Term Municipal Fund (NAV)
0.22% 1.66% 0.50% 0.90% 1.03% 1.54%
Cumulative
Annualized
3 mo ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr since inception
Rochester® Short Term Municipal Fund (with sales charge)
-0.79% 0.66% -0.50% 0.90% 1.03% 1.54%
Cumulative
Annualized
3 mo ytd as of 2017-10-31
  • C
1 yr 3 yr 5 yr since inception
Rochester® Short Term Municipal Fund (NAV)
0.22% 1.75% 0.77% 0.90% 0.98% 1.54%
Cumulative
Annualized
3 mo ytd as of 2017-10-31
  • C
1 yr 3 yr 5 yr since inception
Rochester® Short Term Municipal Fund (with sales charge)
-0.79% 0.75% -0.24% 0.90% 0.98% 1.54%
Gross Expense Ratio: 1.60% | 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 Rochester® Short Term Municipal Fund Bloomberg Barclays Municipal 1 Yr (1-2) Index
2011 3.06% 1.58%
2012 2.86% 0.84%
2013 -0.60% 0.80%
2014 2.81% 0.58%
2015 0.91% 0.61%
2016 -0.12% 0.30%

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 Rochester® Short Term Municipal Fund Bloomberg Barclays Municipal 1 Yr (1-2) Index BBG Barclays Agg
10/31/2012 0.00 0.00 0.00
11/30/2012 0.43 0.05 0.16
12/31/2012 0.34 0.08 0.02
1/31/2013 0.53 0.19 -0.68
2/28/2013 0.67 0.27 -0.19
3/31/2013 0.80 0.35 -0.11
4/30/2013 0.95 0.40 0.90
5/31/2013 0.83 0.43 -0.90
6/30/2013 0.44 0.39 -2.43
7/31/2013 0.60 0.49 -2.30
8/31/2013 -0.07 0.55 -2.80
9/30/2013 0.08 0.67 -1.88
10/31/2013 0.25 0.74 -1.08
11/30/2013 0.40 0.83 -1.45
12/31/2013 0.54 0.87 -2.01
1/31/2014 1.00 0.95 -0.56
2/28/2014 1.44 1.07 -0.03
3/31/2014 1.61 1.12 -0.20
4/30/2014 2.05 1.17 0.64
5/31/2014 3.02 1.27 1.79
6/30/2014 2.92 1.35 1.84
7/31/2014 3.09 1.34 1.58
8/31/2014 3.52 1.42 2.70
9/30/2014 3.69 1.42 2.01
10/31/2014 3.85 1.46 3.01
11/30/2014 4.01 1.52 3.74
12/31/2014 4.15 1.46 3.84
1/31/2015 4.62 1.66 6.01
2/28/2015 4.51 1.69 5.02
3/31/2015 4.69 1.69 5.51
4/30/2015 4.86 1.70 5.13
5/31/2015 4.45 1.69 4.87
6/30/2015 4.35 1.69 3.73
7/31/2015 4.51 1.83 4.45
8/31/2015 4.68 2.00 4.30
9/30/2015 5.14 2.12 5.01
10/31/2015 5.30 2.23 5.02
11/30/2015 5.46 2.10 4.75
12/31/2015 5.89 2.08 4.41
1/31/2016 6.37 2.40 5.84
2/29/2016 6.54 2.56 6.60
3/31/2016 6.44 2.41 7.57
4/30/2016 6.86 2.53 7.99
5/31/2016 6.75 2.58 8.01
6/30/2016 7.18 2.76 9.96
7/31/2016 7.32 2.94 10.65
8/31/2016 7.47 2.78 10.52
9/30/2016 7.59 2.56 10.46
10/31/2016 7.46 2.63 9.61
11/30/2016 6.46 2.19 7.02
12/31/2016 6.56 2.39 7.17
1/31/2017 7.01 2.76 7.38
2/28/2017 7.42 3.10 8.10
3/31/2017 7.54 3.10 8.05
4/30/2017 7.96 3.26 8.88
5/31/2017 8.39 3.46 9.72
6/30/2017 8.50 3.37 9.61
7/31/2017 8.66 3.62 10.08
8/31/2017 9.11 3.85 11.07
9/30/2017 8.94 3.73 10.54
10/31/2017 9.10 3.74 10.60
Date Dividends
11/27/2012 0.0026
12/28/2012 0.0027
1/22/2013 0.0036
2/19/2013 0.0032
3/26/2013 0.0026
4/23/2013 0.0031
5/28/2013 0.0026
6/25/2013 0.0032
7/23/2013 0.0032
8/27/2013 0.0027
9/24/2013 0.0033
10/22/2013 0.0038
11/26/2013 0.0032
12/30/2013 0.0032
1/28/2014 0.0038
2/25/2014 0.0038
3/25/2014 0.0039
4/22/2014 0.0038
5/27/2014 0.0032
6/24/2014 0.0038
7/22/2014 0.0038
8/26/2014 0.0033
9/23/2014 0.0038
10/28/2014 0.0033
11/25/2014 0.0038
12/31/2014 0.0032
1/27/2015 0.0039
2/24/2015 0.0038
3/24/2015 0.0038
4/21/2015 0.0038
5/26/2015 0.0033
6/23/2015 0.0038
7/28/2015 0.0033
8/25/2015 0.0039
9/22/2015 0.0039
10/27/2015 0.0033
11/24/2015 0.0038
12/31/2015 0.0032
1/26/2016 0.004
2/23/2016 0.0038
3/22/2016 0.0038
4/26/2016 0.0028
5/24/2016 0.0033
6/21/2016 0.0033
7/26/2016 0.0023
8/23/2016 0.0028
9/27/2016 0.0023
10/25/2016 0.0028
11/22/2016 0.0028
12/30/2016 0.0015
1/24/2017 0.0026
2/21/2017 0.0023
3/28/2017 0.0018
4/25/2017 0.0023
5/23/2017 0.0023
6/27/2017 0.0018
7/25/2017 0.0028
8/22/2017 0.0028
9/26/2017 0.0023
10/24/2017 0.0028
11/21/2017 0.0028

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 11/22/2017

Date 2012 2013 2014 2015 2016
Short Term 0.0016
Long Term
Total Amount of Distribution 0.0016
Record Date 12/28/12
Ex Div Date 12/28/12
Pay Date 12/28/12

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

Portfolio

Top Fixed Income Sectors

(95.4% of assets as of 10/31/2017)


Portfolio Holdings Breakdown

State 5
Credit Rating Allocation 6
Asset Allocation 5
State Rochester® Short Term Municipal Fund Bloomberg Barclays Municipal 1 Yr (1-2) Index Overweight / Underweight
California 13.6% 16.3% -2.7%
Illinois 12.4% 3.1% 9.3%
New Jersey 9.8% 3.4% 6.4%
Florida 8.9% 4.0% 4.9%
Texas 6.9% 8.0% -1.1%
Puerto Rico 4.8% 0.4% 4.3%
New York 4.6% 13.0% -8.4%
Pennsylvania 3.2% 4.4% -1.2%
Arizona 2.8% 2.0% 0.8%
Indiana 2.7% 0.8% 1.9%
Tennessee 2.6% 1.0% 1.6%
Multistate Authority 2.5% - -
Colorado 2.5% 1.2% 1.3%
Alabama 1.6% 0.7% 0.9%
Wisconsin 1.6% 1.3% 0.3%
Georgia 1.5% 3.1% -1.6%
Ohio 1.4% 2.1% -0.6%
Missouri 1.3% 0.5% 0.8%
Michigan 1.2% 1.6% -0.4%
Massachusetts 0.9% 3.0% -2.1%
Credit Rating Allocation Rochester® Short Term Municipal Fund Bloomberg Barclays Municipal 1 Yr (1-2) Index Overweight / Underweight
AA 48.6% 10.2% 38.4%
A 21.1% 1.2% 19.9%
Unrated 13.6% 0.6% 13.0%
BBB 8.1% 0.1% 8.0%
AAA 4.5% 2.2% 2.2%
BB 2.1% - -
B 0.6% - -
C 0.1% - -
CC 0.1% - -
Asset Allocation Rochester® Short Term Municipal Fund Bloomberg Barclays Municipal 1 Yr (1-2) Index Overweight / Underweight
Municipal 98.7% 100.0% -1.3%
Analytics
(As of 10/31/2017)

Morningstar 10/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
171
Category
Muni National Short
Performance Statistics
3Y
5Y
Alpha
0.03
0.03
Beta
1.35
1.42
Information Ratio
0.20
0.29
R-Squared
51.46
37.89
Sharpe Ratio
0.50
0.71
Standard Deviation
1.07
1.03
Sortino Ratio
0.18
0.29
Tracking Error
0.77
0.84
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
11/21/2017
Per Share ($)
$0.00
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.03
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
1.81 yrs
1.47 yrs
Current Duration
1.60 yrs
1.40 yrs
Turnover Ratio
65.00%
-
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
0.91%
Standardized Yield
0.29%
Team
Documents
  1. 1. A portion of the Fund's distributions may be subject to tax and may increase taxes for investors subject to Alternative Minimum Tax (AMT).  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. 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 Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. 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. The Fund will not invest more than 5% of its total assets in unrated securities. However, this limitation does not apply to unrated debt that has similar characteristics and is comparable to NRSRO rated debt issued by the same issuer or guaranteed by the same guarantor.
  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. Access index definitions.
  5. 5. 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.
  6. 6. 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.
  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. 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.
  10. 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 2.25% maximum sales charge as indicated.
  11. 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.
  12. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  13. 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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