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ODMAX

Developing Markets Fund

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Special Notice

As of 4/12/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

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Overview

The Strategy typically invests in emerging and developing market stocks.

Inception Date
November 18, 1996
Investment Style
Developing Markets
Fund Index
MSCI Emerging Markets Index
CUSIP
683974109
NAV
  • B
(as of 02/19/2019)
$41.40
Total Assets
(as of 01/31/2019)
$38.81 BN
Gross Expense Ratio
(as of 01/31/2019)
1.29%
Net Expense Ratio
(as of 01/31/2019)
1.29%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 01/31/2019
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-12.14% -12.14% 8.17% 0.70% 9.87% 11.15%
MSCI Emerging Markets Index
-14.57% -14.57% 9.25% 1.65% 8.02% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-17.19% -17.19% 6.06% -0.49% 9.22% 10.85%
MSCI Emerging Markets Index
-14.57% -14.57% 9.25% 1.65% 8.02% -
Cumulative
Annualized
ytd as of 2019-01-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
8.49% -11.85% 13.39% 4.04% 11.55% 11.51%
MSCI Emerging Markets Index
8.76% -14.24% 14.89% 4.77% 9.66% -
Cumulative
Annualized
ytd as of 2019-01-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
2.25% -16.92% 11.18% 2.82% 10.89% 11.22%
MSCI Emerging Markets Index
8.76% -14.24% 14.89% 4.77% 9.66% -
Gross Expense Ratio: 1.29% | Net Expense Ratio: 1.29%

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 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Developing Markets Fund MSCI Emerging Markets Index
1997 14.09% -
1998 -19.36% -
1999 82.30% -
2000 -5.26% -
2001 -5.73% -2.62%
2002 -1.60% -6.17%
2003 65.23% 55.82%
2004 33.00% 25.55%
2005 41.23% 34.00%
2006 25.18% 32.17%
2007 33.86% 39.53%
2008 -48.03% -53.33%
2009 81.73% 78.51%
2010 26.99% 18.88%
2011 -18.10% -18.42%
2012 20.85% 18.22%
2013 8.36% -2.60%
2014 -4.81% -2.19%
2015 -14.06% -14.92%
2016 6.89% 11.19%
2017 34.77% 37.28%
2018 -12.14% -14.57%

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 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
1/31/2009 0.00 0.00 0.00 0.00
2/28/2009 -6.28 -5.64 -10.26 -10.24
3/31/2009 6.95 7.92 -4.57 -3.47
4/30/2009 25.79 25.88 7.65 7.36
5/31/2009 48.28 47.39 20.38 17.09
6/30/2009 47.87 45.40 19.70 16.56
7/31/2009 63.34 61.75 30.63 26.43
8/31/2009 64.62 61.17 37.73 31.65
9/30/2009 78.53 75.80 43.00 36.90
10/31/2009 77.31 76.02 41.21 34.46
11/30/2009 87.91 83.58 44.04 39.96
12/31/2009 94.98 90.83 46.11 42.47
1/31/2010 84.14 80.19 39.68 36.58
2/28/2010 86.37 80.82 38.72 38.51
3/31/2010 100.61 95.42 47.38 47.08
4/30/2010 103.05 97.79 44.71 47.10
5/31/2010 88.00 80.39 28.06 33.01
6/30/2010 88.00 79.06 26.78 28.45
7/31/2010 106.31 93.97 38.81 38.87
8/31/2010 102.24 90.21 34.50 33.68
9/30/2010 126.98 111.35 47.68 46.15
10/31/2010 135.05 117.48 53.01 51.60
11/30/2010 129.49 111.74 45.64 48.32
12/31/2010 147.60 126.85 57.44 59.23
1/31/2011 134.43 120.70 61.15 62.83
2/28/2011 134.02 118.64 66.47 68.53
3/31/2011 145.76 131.49 62.74 66.86
4/30/2011 154.05 138.67 72.46 73.95
5/31/2011 147.33 132.41 67.37 70.34
6/30/2011 144.07 128.84 65.27 67.65
7/31/2011 140.67 127.82 62.64 64.61
8/31/2011 125.06 107.46 47.96 53.01
9/30/2011 95.12 77.22 33.86 39.80
10/31/2011 118.81 100.69 46.77 54.26
11/30/2011 110.46 87.31 39.65 50.49
12/31/2011 102.79 85.06 38.32 50.41
1/31/2012 121.05 106.05 45.70 57.95
2/29/2012 133.56 118.39 54.06 65.67
3/31/2012 132.87 111.10 53.35 67.80
4/30/2012 131.14 108.58 50.35 65.89
5/31/2012 107.35 85.19 33.08 51.57
6/30/2012 118.97 92.33 42.41 59.30
7/31/2012 119.73 96.08 44.03 61.35
8/31/2012 123.05 95.43 47.90 65.44
9/30/2012 134.53 107.22 52.27 69.98
10/31/2012 136.47 105.97 53.54 68.83
11/30/2012 136.54 108.58 57.25 70.99
12/31/2012 145.06 118.78 62.28 74.21
1/31/2013 151.73 121.80 70.84 83.08
2/28/2013 147.29 119.01 69.22 83.39
3/31/2013 145.34 115.24 70.61 87.68
4/30/2013 148.33 116.86 79.50 93.59
5/31/2013 147.08 111.30 75.16 93.67
6/30/2013 135.48 97.85 68.94 88.89
7/31/2013 143.54 99.91 77.85 98.84
8/31/2013 135.69 96.48 75.50 94.61
9/30/2013 156.25 109.26 88.47 104.34
10/31/2013 165.27 119.42 94.81 112.34
11/30/2013 163.26 116.21 96.30 116.11
12/31/2013 165.54 113.09 99.24 120.68
1/31/2014 144.66 99.25 91.22 112.51
2/28/2014 155.90 105.85 101.85 123.15
3/31/2014 160.79 112.17 100.56 123.47
4/30/2014 160.93 112.88 103.46 125.76
5/31/2014 171.90 120.31 106.77 130.20
6/30/2014 181.11 126.16 108.76 134.32
7/31/2014 180.14 130.54 104.66 130.58
8/31/2014 188.45 135.73 104.35 135.66
9/30/2014 171.06 118.26 96.49 129.27
10/31/2014 175.95 120.83 93.64 130.75
11/30/2014 171.20 118.50 96.27 135.37
12/31/2014 152.78 108.43 89.47 131.58
1/31/2015 149.58 109.68 90.40 127.38
2/28/2015 154.91 116.17 101.78 140.70
3/31/2015 149.36 113.09 98.72 136.94
4/30/2015 159.90 129.48 106.83 142.49
5/31/2015 154.99 120.29 105.77 143.33
6/30/2015 151.28 114.57 99.94 137.67
7/31/2015 139.40 99.70 104.09 141.94
8/31/2015 113.92 81.64 89.08 125.93
9/30/2015 107.66 76.17 79.48 117.59
10/31/2015 126.66 88.74 93.51 134.84
11/30/2015 122.11 81.38 90.50 133.67
12/31/2015 117.24 77.33 87.93 129.56
1/31/2016 104.59 65.83 74.34 115.83
2/29/2016 102.09 65.56 71.15 114.22
3/31/2016 123.74 87.47 82.28 128.76
4/30/2016 123.17 88.48 87.56 132.38
5/31/2016 121.38 81.45 85.86 133.68
6/30/2016 125.24 88.71 79.62 131.06
7/31/2016 132.67 98.20 88.72 140.83
8/31/2016 139.03 103.13 88.86 141.03
9/30/2016 144.89 105.74 91.18 142.31
10/31/2016 145.25 106.23 87.27 137.62
11/30/2016 132.89 96.74 83.54 141.03
12/31/2016 132.20 97.17 89.81 146.80
1/31/2017 143.73 107.96 95.32 152.76
2/28/2017 147.81 114.33 98.11 159.77
3/31/2017 157.70 119.74 103.56 162.54
4/30/2017 164.86 124.55 108.74 166.42
5/31/2017 172.31 131.19 116.41 172.06
6/30/2017 175.39 133.51 116.02 173.11
7/31/2017 190.43 147.43 122.25 179.64
8/31/2017 197.16 152.95 122.17 180.04
9/30/2017 197.95 151.95 127.70 186.32
10/31/2017 205.68 160.78 131.16 191.73
11/30/2017 204.04 161.30 133.58 198.06
12/31/2017 212.94 170.68 137.33 202.09
1/31/2018 238.37 193.24 149.23 218.04
2/28/2018 221.92 179.72 137.98 204.86
3/31/2018 222.14 174.52 133.70 198.22
4/30/2018 218.04 173.30 139.03 201.64
5/31/2018 217.04 163.62 133.66 203.53
6/30/2018 208.92 152.67 130.80 203.39
7/31/2018 210.50 158.22 136.49 212.86
8/31/2018 201.88 151.24 131.92 216.73
9/30/2018 198.36 149.90 133.93 218.50
10/31/2018 170.41 128.14 115.31 195.11
11/30/2018 183.77 137.54 115.04 198.46
12/31/2018 174.95 131.25 104.60 175.77
1/31/2019 198.29 151.50 118.05 197.23

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 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 02/20/2019

Date 2014 2015 2016 2017 2018
Short Term
Long Term 0.5977
Total Amount of Distribution 0.5977
Record Date 12/4/14
Ex Div Date 12/5/14
Pay Date 12/5/14

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

Portfolio

Top Issuers

(54.8% of assets as of 01/31/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
China 20.2% 31.1% -10.9%
India 10.3% 8.5% 1.8%
Hong Kong 8.4% - -
Russia 6.5% 3.9% 2.6%
Mexico 6.1% 2.8% 3.2%
France 5.6% - -
South Korea 5.5% 14.0% -8.5%
Brazil 5.3% 8.0% -2.7%
Taiwan 4.9% 10.7% -5.8%
Philippines 3.8% 1.1% 2.7%
United Kingdom 3.6% - -
South Africa 2.6% 6.4% -3.9%
United States 2.4% - -
Turkey 1.7% 0.7% 1.0%
United Arab Emirates 1.4% 0.7% 0.7%
Peru 1.3% 0.4% 0.9%
Cayman Islands 1.0% - -
Chile 1.0% 1.1% -0.1%
Indonesia 1.0% 2.3% -1.3%
Singapore 1.0% - -
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 9.7% - -
Asia Pacific 9.5% - -
Americas 3.4% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 46.4% 72.4% -26.0%
Americas 14.2% 12.8% 1.4%
Europe 8.2% 6.5% 1.7%
Africa 3.0% 6.6% -3.6%
Middle East 1.4% 1.8% -0.4%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Financials 23.6% 24.8% -1.2%
Consumer Discretionary 22.7% 10.9% 11.8%
Information Technology 8.3% 14.3% -6.0%
Consumer Staples 8.2% 6.5% 1.7%
Communication Services 7.2% 14.2% -7.0%
Materials 6.8% 7.3% -0.6%
Health Care 6.7% 2.7% 4.0%
Industrials 5.2% 5.5% -0.3%
Energy 5.2% 8.1% -2.9%
Real Estate 1.8% 3.1% -1.3%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Banks 10.3% 17.5% -7.2%
Internet & Direct Marketing Retail 9.9% 5.0% 4.9%
Textiles Apparel & Luxury Goods 7.0% 0.7% 6.3%
Interactive Media & Services 6.1% 6.6% -0.5%
Metals & Mining 5.8% 3.4% 2.4%
Oil Gas & Consumable Fuels 5.2% 8.0% -2.8%
Semiconductors & Semiconductor Equipment 4.9% 5.0% -0.1%
Capital Markets 4.6% 1.3% 3.3%
Hotels Restaurants & Leisure 3.6% 0.7% 2.9%
Thrifts & Mortgage Finance 3.4% 0.9% 2.5%
Food & Staples Retailing 2.8% 1.8% 1.0%
Insurance 2.8% 3.8% -1.0%
Beverages 2.7% 1.2% 1.5%
Industrial Conglomerates 2.6% 1.5% 1.1%
Personal Products 2.5% 0.7% 1.8%
Pharmaceuticals 2.4% 1.3% 1.1%
Multiline Retail 2.2% 0.6% 1.5%
Diversified Financial Services 2.2% 1.0% 1.2%
Health Care Providers & Services 2.0% 0.5% 1.5%
Real Estate Management & Development 1.8% 2.7% -0.9%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 95.7% 100.0% -4.3%
Net Cash and Equivalents 4.3% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 86.8% 91.2% -4.4%
Mid 6.3% 8.3% -2.0%
Analytics
(As of 01/31/2019)

Morningstar 01/31/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
713
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
0.25
-0.28
Beta
0.87
0.90
Information Ratio
-0.34
-0.15
R-Squared
91.63
90.40
Sharpe Ratio
0.91
0.30
Standard Deviation
13.56
14.46
Upside Capture
87.48
87.91
Downside Capture
84.81
89.01
Sortino Ratio
1.62
0.45
Win Ratio
33.00
43.00
Loss Ratio
67.00
57.00
Tracking Error
4.36
4.76
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$88.97 B
$80.51 B
Median Market Cap (weighted)
$33.62 B
$20.46 B
P/E Ratio (LTM)
22.41
13.65
P/E Ratio (NTM)
17.51
11.84
Price/Book
2.95
1.83
Return on Equity
18.12%
17.39%
Turnover Ratio
36%
-
Active Share
79.94%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/3/2018
Per Share ($)
$0.1072
12-Month Distribution ($)
$0.1072
Distribution Sources
  • E
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Effective 4/12/13, the purchase and exchange of Fund shares will be restricted, subject to certain exceptions. Please see the prospectus supplement for further information.
  2. 2. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk.
  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. The MSCI Emerging Markets Index is designed to measure equity market performance of emerging markets. 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.
  5. 5. 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.
  6. 6. 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.
  7. 7. The Morningstar Analyst Rating is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. (Mstar.) Mstar evaluates funds based on five key pillars (process, performance, people, parent and price). Mstar’s analysts use this evaluation to identify funds they believe are morelikely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weighting of each pillar may vary. The Analyst Rating reflects an overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with threepositive ratings (Gold, Silver, Bronze), a Neutral Rating and a Negative Rating, with Gold being the highest rating and Negative being the lowest rating. The Mstar analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Mstar’s current expectations about future events. Mstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may causeMstar’s expectations not to occur or to differ significantly.
  8. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  9. B. 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. C. 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 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.
  11. D. "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. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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