as of 3/31/14
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|% Net Assets|
|1||Puerto Rico Children's Trust Fund (TASC)||2.2|
|2||Los Angeles, CA Regional Airports Improvement Corp||2.1|
|3||Los Angeles, CA Dept. of Airports ROLs||1.8|
|4||CA ABAG Finance Authority for NonProfit Corp. (HSH||1.5|
|5||CA Cnty Tobacco Securitization Agency (TASC)||1.4|
|6||CA Cnty Tobacco Securitization Agency (TASC)||1.4|
|7||San Francisco, CA City & Cnty Airports Commission||1.3|
|8||CA Statewide CDA (Bakersfield Reassessment Distric||1.2|
|9||CA HFA (Home Mtg.)||1.0|
|10||Puerto Rico Public Buildings Authority||1.0|
|11||CA Public Works||1.0|
|12||Puerto Rico Electric Power Authority, Series ZZ||1.0|
|14||Southern CA Tobacco Securitization Authority||0.9|
|15||San Jose, CA Redevel. Agency||0.9|
|16||CA Cnty Tobacco Securitization Agency (TASC)||0.8|
|17||CA HFA (Multifamily Hsg.), Series B||0.8|
|18||CA HFA (Home Mtg.)||0.8|
|19||San Diego, CA Hsg. Authority (Island Village Apart||0.8|
|20||Puerto Rico Commonwealth GO||0.8|
|Alpha||R-squared||Sharpe Ratio||Standard Deviation (3 yr)|
|Top States 4 as of 3/31/14|
|% Net Assets|
|Top Sectors 4 as of 3/31/14|
|% Net Assets|
|4||Tax Increment Financing (TIF)||10.7|
|5||Tobacco Master Settlement Agreement||9.8|
|8||Housing - Multi-Family||5.6|
|9||Housing - Single-Family||4.5|
Alpha (3-yr): measures the difference between a fund's actual and expected returns, based on beta, and is generally used as a measure of a manager's added value over a passive strategy.
R-squared (3-yr): is a measurement of how closely a portfolio's performance correlates with the performance of a benchmark index, and thus a measurement of what portion of its performance can be explained by the performance of the index. Values for R-squared range from 0 to 100, where 0 indicates no correlation and 100 indicates perfect correlation.
Sharpe Ratio (3-yr): is a risk-adjusted measure that measures reward per unit of risk. the higher the Sharpe Ratio, the better. The numerator is the difference between the portfolio's annualized return and the annualized return of a risk-free instrument, the denominator is the portfolio's annualized standard deviation (population).
Standard Deviation (3-yr): is a statistical measure of the degree to which the performance of a portfolio varies from its average performance during a specified period. the higher the standard deviation, the greater the volatility of the portfolio's performance returns relative to its average return.
Alpha, Beta and R-Squared were measured against the fund's benchmark: . Access index definitions.
Source: Morningstar, Inc. Although this data has been gathered from sources Morningstar believes to be reliable, its completeness and accuracy cannot be guaranteed.
*SEC Form N-MFP is available 60 days after the end of the month.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
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