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OSDIX

Ultra-Short Duration Fund

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Overview

The Strategy typically invests in short-term investment-grade debt securities.

Inception Date
November 28, 2014
Investment Style
Ultra Short Bond
Fund Index
ICE BofAML 3-month US T-Bill Index
CUSIP
68385K305
NAV
  • A
(as of 11/15/2018)
$5.06
Total Assets
(as of 10/31/2018)
$477.76 MM
Gross Expense Ratio
(as of 10/31/2018)
0.40%
Net Expense Ratio
(as of 10/31/2018)
0.28%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • B
as of 09/30/2018
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-09-30
  • C
1 yr 3 yr since inception
Ultra-Short Duration Fund (NAV)
0.20% 0.58% 1.36% 1.72% 1.73% 1.45%
ICE BofAML 3-month US T-Bill Index
0.15% 0.49% 1.30% 1.59% 0.84% 0.38%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-10-31
  • C
1 yr 3 yr since inception
Ultra-Short Duration Fund (NAV)
0.21% 0.60% 1.57% 1.81% 1.78% 1.47%
ICE BofAML 3-month US T-Bill Index
0.17% 0.51% 1.48% 1.68% 0.90% 0.39%
Gross Expense Ratio: 0.40% | Net Expense Ratio: 0.28%

The performance data quoted represents past performance, which does not guarantee future results.  The investments 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.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Ultra-Short Duration Fund ICE BofAML 3-month US T-Bill Index
2015 0.49% 0.05%
2016 2.45% 0.33%
2017 1.36% 0.86%

The performance data quoted represents past performance, which does not guarantee future results.  The investments 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.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Time Period
Date Ultra-Short Duration Fund
11/28/2014 0.00
11/30/2014 0.00
12/31/2014 -0.06
1/31/2015 0.06
2/28/2015 0.09
3/31/2015 0.12
4/30/2015 0.16
5/31/2015 0.20
6/30/2015 0.14
7/31/2015 0.19
8/31/2015 0.15
9/30/2015 0.40
10/31/2015 0.46
11/30/2015 0.53
12/31/2015 0.43
1/31/2016 0.51
2/29/2016 0.59
3/31/2016 0.70
4/30/2016 0.98
5/31/2016 1.07
6/30/2016 1.15
7/31/2016 1.24
8/31/2016 1.33
9/30/2016 1.41
10/31/2016 2.70
11/30/2016 2.79
12/31/2016 2.89
1/31/2017 2.99
2/28/2017 3.09
3/31/2017 3.20
4/30/2017 3.31
5/31/2017 3.42
6/30/2017 3.53
7/31/2017 3.65
8/31/2017 3.79
9/30/2017 3.91
10/31/2017 4.04
11/30/2017 4.16
12/31/2017 4.29
1/31/2018 4.43
2/28/2018 4.36
3/31/2018 4.31
4/30/2018 4.71
5/31/2018 4.90
6/30/2018 5.09
7/31/2018 5.29
8/31/2018 5.49
9/30/2018 5.70
10/31/2018 5.92
Date Dividends
12/31/2014 0.0026
1/30/2015 0.0028
2/27/2015 0.0027
3/31/2015 0.0034
4/30/2015 0.0036
5/29/2015 0.0039
6/30/2015 0.0041
7/31/2015 0.0051
8/31/2015 0.0028
9/30/2015 0.0027
10/30/2015 0.0031
11/30/2015 0.0031
12/31/2015 0.0051
1/29/2016 0.004
2/29/2016 0.0039
3/31/2016 0.0055
4/29/2016 0.0042
5/31/2016 0.0043
6/30/2016 0.0041
7/29/2016 0.0043
8/31/2016 0.0042
9/30/2016 0.004
10/31/2016 0.0041
11/30/2016 0.0042
12/30/2016 0.005
1/31/2017 0.0051
2/28/2017 0.0048
3/31/2017 0.0054
4/28/2017 0.0053
5/31/2017 0.0055
6/30/2017 0.0055
7/31/2017 0.0059
8/31/2017 0.0067
9/29/2017 0.0059
10/31/2017 0.0062
11/30/2017 0.0061
12/29/2017 0.0061
1/31/2018 0.0069
2/28/2018 0.0065
3/29/2018 0.008
4/30/2018 0.0092
5/31/2018 0.0091
6/29/2018 0.0091
7/31/2018 0.0096
8/31/2018 0.0099
9/28/2018 0.0099
10/31/2018 0.0105

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 investments 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.  Class I 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 11/16/2018

Date 2013 2014 2015 2016 2017
Short Term 0.0048
Long Term 0.0002
Total Amount of Distribution 0.0050
Record Date 12/31/14
Ex Div Date 12/31/14
Pay Date 12/31/14

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

Portfolio

Top Asset Allocations

(138.6% of assets as of 10/31/2018)


Portfolio Holdings Breakdown

Country
Credit Rating Allocation
Country Ultra-Short Duration Fund ICE BofAML 3-month US T-Bill Index Overweight / Underweight
United States 57.1% 100.0% -42.9%
Canada 11.7% - -
Japan 6.2% - -
Sweden 5.1% - -
Australia 4.4% - -
United Kingdom 4.3% - -
Germany 3.4% - -
Netherlands 2.4% - -
Italy 2.0% - -
Norway 1.4% - -
Switzerland 1.3% - -
France 0.8% - -
Credit Rating Allocation Ultra-Short Duration Fund ICE BofAML 3-month US T-Bill Index Overweight / Underweight
AAA 5.9% - -
AA 29.8% - -
A 31.9% - -
BBB 27.8% - -
Unrated 4.5% - -
Other 0.1% - -
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
144
Category
Ultrashort Bond
Performance Statistics
3Y
Alpha
0.89
Beta
1.33
Information Ratio
1.17
R-Squared
0.81
Sharpe Ratio
1.07
Standard Deviation
0.73
Tracking Error
0.75
Yields
Dividend Yield (w/o sales charge)
2.45%
Standardized Yield
2.56%
Unsubsidized Yield
2.46%
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
2.82%
-
Yield to Worst
2.82%
-
Average Effective Maturity
1.01 yrs
-
Current Duration
0.40 yrs
-
Average Coupon
1.82%
-
Effective Coupon
1.82%
-
Option Adjusted Spread
32 bps
-
Turnover Ratio
72%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
10/31/2018
Per Share ($)
$0.0105
12-Month Distribution ($)
$0.1009
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. 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. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Asset-backed securities are subject to prepayment risk. May invest 25% or more of its assets in securities issued by companies in the financial services sector which may be susceptible to economic and regulatory events, and increased volatility. Diversification does not guarantee profit or protect against loss.
  2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  3. 3. The ICE Bank of America (BofA) Merrill Lynch 3-month U.S. Treasury Bill Index is an index of short-term U.S. Government securities with a remaining term to final maturity of less than three months. 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.
  4. 4. 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.
  5. 5. 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.
  6. 6. 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.
  7. 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.
  8. B. The performance data quoted represents past performance, which does not guarantee future results.  The investments 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.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  9. 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.
  10. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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