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RWL
Oppenheimer

S&P 500 Revenue ETF

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Overview
NAV
  • A
(as of 09/25/2018)
$54.25
Daily Change
(as of 09/25/2018)
$-0.46
-0.85%
YTD
(as of 09/25/2018)
6.69%
Expense Ratio
(as of 09/25/2018)
0.39%

The strategy provides access to the same securities as the S&P 500 Index, weighted by top line revenue instead of market capitalization.

Why RWL?
1. Broad exposure to the S&P 500 universe.
2. Greater exposure to lower valuation companies than the market-cap benchmark.
3. Consider for large-cap exposure at the core of your portfolio.

Why Consider a Revenue Weighting Strategy?

A revenue weighting approach may be a more prudent way to access the broad market.

Smart beta revenue img1
Total Assets
(as of 09/25/2018)
$1.00 BN
Number of Holdings
(as of 09/24/2018)
507
Inception Date
February 19, 2008
Investment Style
Alternatively Weighted Strategy
Tracked Index
S&P 500 Revenue-Weighted Index™
Bloomberg Index Ticker
REVWLT
Broad Benchmark
S&P 500 Index
Style Benchmark
S&P 500 Value Index
Reuters Bridge Ticker
RWL.IV
ISIN
US68386C1045
CUSIP
68386C104
Closing Price
(as of 09/24/2018)
$54.74
Midpoint Price
(as of 09/24/2018)
$54.73
Premium/Discount
(as of 09/24/2018)
0.03%
Premium/Discount Analysis
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Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 08/31/2018
  • B
as of 06/30/2018
  • B

Market Price
Market Price
Market Price
Market Price
  • B
Cumulative
Annualized
ytd as of 2018-06-30
1 yr 3 yr 5 yr 10 yr since inception
S&P 500 Revenue ETF (NAV)
-0.33% 11.49% 9.50% 12.08% 10.15% 8.85%
S&P 500 Index
2.65% 14.37% 11.93% 13.42% 10.17% 9.33%
S&P 500 Value Index
-2.22% 7.58% 8.82% 10.45% 8.44% 7.02%
S&P 500 Revenue-Weighted Index™
-0.13% 11.96% 9.93% 12.55% 10.69% 9.39%
Cumulative
Annualized
ytd as of 2018-06-30
1 yr 3 yr 5 yr 10 yr since inception
S&P 500 Revenue ETF (Market Price)
-0.34% 11.46% 9.51% 12.12% 10.19% 8.85%
S&P 500 Index
2.65% 14.37% 11.93% 13.42% 10.17% 9.33%
S&P 500 Value Index
-2.22% 7.58% 8.82% 10.45% 8.44% 7.02%
S&P 500 Revenue-Weighted Index™
-0.13% 11.96% 9.93% 12.55% 10.69% 9.39%
Cumulative
Annualized
ytd as of 2018-08-31
1 yr 3 yr 5 yr 10 yr since inception
S&P 500 Revenue ETF (NAV)
6.55% 18.27% 13.89% 13.07% 10.84% 9.40%
S&P 500 Index
9.94% 19.66% 16.11% 14.52% 10.86% 9.89%
S&P 500 Value Index
3.12% 13.24% 12.92% 11.33% 8.73% 7.45%
S&P 500 Revenue-Weighted Index™
6.84% 18.75% 14.34% 13.54% 11.38% 9.93%
Cumulative
Annualized
ytd as of 2018-08-31
1 yr 3 yr 5 yr 10 yr since inception
S&P 500 Revenue ETF (Market Price)
6.48% 18.25% 13.87% 13.08% 10.78% 9.39%
S&P 500 Index
9.94% 19.66% 16.11% 14.52% 10.86% 9.89%
S&P 500 Value Index
3.12% 13.24% 12.92% 11.33% 8.73% 7.45%
S&P 500 Revenue-Weighted Index™
6.84% 18.75% 14.34% 13.54% 11.38% 9.93%
Expense Ratio: 0.39%

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. Returns do not consider capital gains or income taxes on an individual's investment.


Year S&P 500 Revenue ETF S&P 500 Index S&P 500 Value Index S&P 500 Revenue-Weighted Index™
2009 30.18% 26.46% 21.18% 30.66%
2010 16.93% 15.06% 15.10% 17.58%
2011 0.38% 2.11% -0.48% 0.89%
2012 18.08% 16.00% 17.68% 18.76%
2013 37.68% 32.39% 31.99% 38.42%
2014 13.35% 13.69% 12.36% 13.98%
2015 -1.21% 1.38% -3.13% -1.12%
2016 12.23% 11.96% 17.40% 12.86%
2017 19.89% 21.83% 15.36% 20.41%

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. Returns do not consider capital gains or income taxes on an individual's investment.


Date S&P 500 Revenue ETF S&P 500 Index OFI Rev Weighted Lg Cap Ix
8/31/2008 0.00 0.00 0.00
9/30/2008 -8.64 -8.91 -8.63
10/31/2008 -26.08 -24.21 -25.97
11/30/2008 -30.93 -29.65 -30.82
12/31/2008 -29.84 -28.90 -29.53
1/31/2009 -35.55 -34.89 -35.22
2/28/2009 -43.36 -41.82 -43.09
3/31/2009 -38.31 -36.73 -37.95
4/30/2009 -29.36 -30.67 -28.93
5/31/2009 -25.69 -26.79 -25.20
6/30/2009 -26.62 -26.65 -26.27
7/31/2009 -20.16 -21.10 -19.73
8/31/2009 -16.53 -18.25 -16.00
9/30/2009 -13.60 -15.20 -12.99
10/31/2009 -15.55 -16.78 -14.94
11/30/2009 -10.71 -11.79 -10.05
12/31/2009 -8.67 -10.08 -7.93
1/31/2010 -10.72 -13.32 -9.94
2/28/2010 -7.60 -10.63 -6.77
3/31/2010 -1.49 -5.24 -0.55
4/30/2010 0.47 -3.74 1.47
5/31/2010 -7.22 -11.43 -6.28
6/30/2010 -13.26 -16.07 -12.34
7/31/2010 -7.29 -10.18 -6.25
8/31/2010 -12.18 -14.24 -11.18
9/30/2010 -3.97 -6.59 -2.80
10/31/2010 -0.86 -3.03 0.38
11/30/2010 -0.37 -3.02 0.90
12/31/2010 6.79 3.46 8.26
1/31/2011 9.69 5.91 11.20
2/28/2011 13.35 9.54 14.99
3/31/2011 13.76 9.59 15.42
4/30/2011 17.14 12.83 18.90
5/31/2011 15.65 11.56 17.44
6/30/2011 13.60 9.70 15.43
7/31/2011 9.72 7.46 11.55
8/31/2011 3.33 1.63 5.10
9/30/2011 -4.43 -5.52 -2.72
10/31/2011 7.14 4.81 9.01
11/30/2011 6.49 4.58 8.44
12/31/2011 7.20 5.65 9.22
1/31/2012 12.46 10.38 14.63
2/29/2012 17.16 15.16 19.44
3/31/2012 20.43 18.94 22.88
4/30/2012 18.81 18.20 21.30
5/31/2012 11.69 11.09 14.06
6/30/2012 16.55 15.67 19.08
7/31/2012 17.53 17.28 20.10
8/31/2012 20.74 19.92 23.47
9/30/2012 24.17 23.02 27.06
10/31/2012 23.60 20.75 26.49
11/30/2012 24.21 21.45 27.17
12/31/2012 26.59 22.55 29.71
1/31/2013 34.52 28.90 37.88
2/28/2013 36.97 30.65 40.47
3/31/2013 43.35 35.55 47.05
4/30/2013 45.35 38.16 49.19
5/31/2013 49.83 41.40 53.84
6/30/2013 47.99 39.50 52.06
7/31/2013 56.13 46.60 60.53
8/31/2013 51.40 42.35 55.71
9/30/2013 55.61 46.81 60.11
10/31/2013 63.53 53.56 68.35
11/30/2013 70.05 58.24 75.15
12/31/2013 74.28 62.25 79.55
1/31/2014 66.96 56.64 72.09
2/28/2014 73.85 63.80 79.30
3/31/2014 76.76 65.18 82.41
4/30/2014 78.90 66.40 84.72
5/31/2014 82.30 70.31 88.31
6/30/2014 84.75 73.83 90.96
7/31/2014 82.30 71.43 88.59
8/31/2014 89.75 78.29 96.39
9/30/2014 85.86 75.79 92.45
10/31/2014 90.19 80.08 97.01
11/30/2014 96.61 84.92 103.63
12/31/2014 97.55 84.46 104.64
1/31/2015 91.58 78.92 98.49
2/28/2015 102.93 89.20 110.33
3/31/2015 100.75 86.21 108.29
4/30/2015 101.36 88.00 109.05
5/31/2015 103.51 90.41 111.14
6/30/2015 99.36 86.73 106.72
7/31/2015 101.43 90.64 109.00
8/31/2015 89.39 79.14 96.55
9/30/2015 84.69 74.71 91.56
10/31/2015 97.31 89.44 104.69
11/30/2015 97.85 90.01 105.26
12/31/2015 95.16 87.01 102.34
1/31/2016 84.58 77.73 91.48
2/29/2016 86.11 77.49 93.16
3/31/2016 99.07 89.53 106.78
4/30/2016 99.89 90.27 107.71
5/31/2016 101.78 93.68 109.74
6/30/2016 102.48 94.18 110.55
7/31/2016 109.21 101.34 117.67
8/31/2016 109.26 101.63 117.84
9/30/2016 108.31 101.66 116.94
10/31/2016 103.98 97.99 112.54
11/30/2016 115.66 105.32 124.79
12/31/2016 119.04 109.38 128.36
1/31/2017 121.96 113.35 131.51
2/28/2017 130.32 121.82 140.30
3/31/2017 129.16 122.08 139.13
4/30/2017 130.60 124.36 140.72
5/31/2017 133.02 127.52 143.33
6/30/2017 134.79 128.94 145.28
7/31/2017 138.99 133.64 149.89
8/31/2017 136.55 134.36 147.41
9/30/2017 143.31 139.19 154.51
10/31/2017 146.25 144.77 157.67
11/30/2017 157.83 152.28 169.88
12/31/2017 162.60 155.09 174.98
1/31/2018 177.05 169.69 190.24
2/28/2018 162.50 159.75 175.06
3/31/2018 155.82 153.15 168.13
4/30/2018 159.52 154.12 172.09
5/31/2018 160.76 160.24 173.47
6/30/2018 161.77 161.84 174.62
7/31/2018 171.33 171.59 184.76
8/31/2018 179.79 180.44 193.80

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. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 09/25/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 0.0379 0.0277
Total Amount of Distribution 0.0379 0.0277
Record Date 12/31/14 12/31/15
Ex Div Date 12/29/14 12/29/15
Pay Date 1/5/15 1/4/16

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

Portfolio

Top Holdings

(31.9% of assets as of 09/24/2018)

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Portfolio Holdings Breakdown

Country
Equity Sector
Industry
Asset Allocation
Market Cap 11
Country S&P 500 Revenue ETF S&P 500 Index Overweight / Underweight
United States 100.0% 100.0% 0.0%
Equity Sector S&P 500 Revenue ETF S&P 500 Index Overweight / Underweight
Health Care 17.4% 14.9% 2.5%
Consumer Discretionary 15.3% 12.9% 2.3%
Financials 13.5% 13.7% -0.2%
Consumer Staples 12.6% 6.7% 5.9%
Information Technology 11.8% 26.0% -14.3%
Industrials 11.5% 9.7% 1.8%
Energy 8.7% 6.0% 2.6%
Materials 2.9% 2.5% 0.4%
Utilities 2.7% 2.8% -0.1%
Telecommunication Services 2.6% 2.0% 0.6%
Real Estate 0.8% 2.6% -1.8%
Industry S&P 500 Revenue ETF S&P 500 Index Overweight / Underweight
Health Care Providers & Services 12.3% 3.4% 9.0%
Food & Staples Retailing 8.2% 1.5% 6.7%
Oil Gas & Consumable Fuels 7.8% 5.3% 2.5%
Banks 4.6% 6.1% -1.5%
Insurance 4.1% 2.3% 1.7%
Technology Hardware Storage & Peripherals 3.3% 4.6% -1.3%
Aerospace & Defense 3.1% 2.7% 0.4%
Specialty Retail 3.1% 2.4% 0.8%
Diversified Telecommunication Services 2.6% 2.0% 0.6%
Automobiles 2.6% 0.4% 2.2%
Media 2.5% 2.2% 0.3%
IT Services 2.3% 4.7% -2.4%
Pharmaceuticals 2.2% 4.7% -2.5%
Internet & Direct Marketing Retail 2.1% 4.3% -2.3%
Diversified Financial Services 2.1% 1.8% 0.4%
Chemicals 1.9% 1.8% 0.0%
Food Products 1.9% 1.1% 0.8%
Capital Markets 1.9% 2.8% -0.9%
Machinery 1.9% 1.6% 0.3%
Semiconductors & Semiconductor Equipment 1.9% 3.9% -2.0%
Asset Allocation S&P 500 Revenue ETF S&P 500 Index Overweight / Underweight
Equity 99.8% 100.0% -0.2%
Market Cap S&P 500 Revenue ETF S&P 500 Index Overweight / Underweight
Large 87.1% 90.9% -3.8%
Mid 12.7% 9.1% 3.6%
Analytics
(As of 08/31/2018)

Morningstar 08/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
1109
Category
Large Value
Performance Statistics
3Y
5Y
Alpha
-2.01
-1.38
Beta
1.01
1.01
Information Ratio
-0.78
-0.58
R-Squared
91.72
93.70
Sharpe Ratio
1.28
1.23
Standard Deviation
9.92
10.00
Upside Capture
92.58
95.19
Downside Capture
106.84
103.79
Yields
Standardized Yield
1.76%
Portfolio Characteristics
Fund
Broad Benchmark
Average Market Cap (weighted)
$169.73 B
$250.20 B
Median Market Cap (weighted)
$68.04 B
$111.38 B
P/E Ratio (LTM)
18.17
21.06
P/E Ratio (NTM)
14.35
17.12
Price/Book
2.76
3.50
Price/Sales Ratio
0.88
2.65
Price/Cash Flow Ratio
11.35%
-
Turnover Ratio
14.96%
-
Dividends
  • C
Est. Frequency
Quarterly
Last Pay Date
6/21/2018
Per Share ($)
$0.2213
12-Month Distribution ($)
$0.8388
Distribution Sources
  • C
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Prior to 6/5/18, the Fund's name was Oppenheimer Large Cap Revenue ETF.
  2. 2. Access historical premium/discount information
  3. 3. The S&P 500 Revenue-Weighted Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by OppenheimerFunds, Inc.  Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); the Oppenheimer S&P 500 Revenue ETF is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Revenue-Weighted Index.
  4. 4. An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. Fund returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Fund. The alternate weighting approach employed by the Fund (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Fund is rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performance.
  5. 5. The Closing Price is the price of the last reported trade on the Fund's primary exchange.
  6. 6. The S&P 500® Value Index represents the companies of the S&P 500® Index that exhibit greater value characteristics.  The S&P 500® Index is a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies.  The index tracks the value companies of the S&P 500® Index as identified by three factors:  book value-to-price ratio, earnings-to-price ratio, and sales-to-price ratio. Index performance is shown for illustrative purposes only and does not predict or depict the performance of the Fund. Past performance does not guarantee future results.
  7. 7. The S&P 500® Index is a capitalization-weighted index of 500 stocks intended to be a representative sample of leading companies in leading industries within the U.S. economy.  The index is unmanaged, includes the reinvestment of dividends and cannot be purchased directly by investors. 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. The S&P 500 Revenue-Weighted Index is constructed by re-weighting the constituent securities of the S&P 500® Index according to revenue earned, subject to certain asset diversification requirements.  The S&P 500 Revenue-Weighted Index generally contains the same securities as the S&P 500, but in different proportions.

      Past performance does not guarantee future results.
  9. 9. Holdings are subject to change, and are dollar weighted based on total net assets.
  10. 10. Negative net cash may be the result of a variety of factors including, but not limited to, (1) pending receivables or (2) amounts owed to the fund due to balancing amounts with respect to purchases and redemptions of creation units, but is not the result of the use of leverage.
  11. 11. 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.
  12. 12. Standardized yield 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).
  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. Returns do not consider capital gains or income taxes on an individual's investment.

    The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

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