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ODVCX

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
683974307
NAV
  • B
(as of 01/18/2019)
$37.54
Total Assets
(as of 12/31/2018)
$35.47 BN
Gross Expense Ratio
(as of 12/31/2018)
2.05%
Net Expense Ratio
(as of 12/31/2018)
2.05%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • 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)
-12.83% -12.83% 7.35% -0.06% 9.07% 10.33%
MSCI Emerging Markets Index
-14.58% -14.58% 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)
-13.71% -13.71% 7.35% -0.06% 9.07% 10.33%
MSCI Emerging Markets Index
-14.58% -14.58% 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 (NAV)
-12.83% -12.83% 7.35% -0.06% 9.07% 10.33%
MSCI Emerging Markets Index
-14.58% -14.58% 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)
-13.71% -13.71% 7.35% -0.06% 9.07% 10.33%
MSCI Emerging Markets Index
-14.58% -14.58% 9.25% 1.65% 8.02% -
Gross Expense Ratio: 2.05% | Net Expense Ratio: 2.05%

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 Developing Markets Fund MSCI Emerging Markets Index
1997 13.18% -
1998 -19.98% -
1999 80.95% -
2000 -5.93% -
2001 -6.55% -2.62%
2002 -2.32% -6.17%
2003 63.98% 55.82%
2004 32.01% 25.55%
2005 40.15% 34.00%
2006 24.31% 32.17%
2007 32.90% 39.53%
2008 -48.38% -53.33%
2009 80.37% 78.51%
2010 26.10% 18.88%
2011 -18.68% -18.42%
2012 20.04% 18.22%
2013 7.60% -2.60%
2014 -5.51% -2.19%
2015 -14.71% -14.92%
2016 6.10% 11.19%
2017 33.78% 37.28%
2018 -12.83% -14.58%

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 Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
12/31/2008 0.00 0.00 0.00 0.00
1/31/2009 -6.80 -6.46 -9.81 -8.76
2/28/2009 -12.77 -11.73 -19.07 -18.10
3/31/2009 -0.52 0.95 -13.94 -11.92
4/30/2009 16.92 17.75 -2.92 -2.04
5/31/2009 37.78 37.87 8.57 6.83
6/30/2009 37.33 36.01 7.95 6.35
7/31/2009 51.59 51.30 17.81 15.36
8/31/2009 52.69 50.76 24.21 20.12
9/30/2009 65.52 64.45 28.97 24.90
10/31/2009 64.29 64.65 27.36 22.68
11/30/2009 74.01 71.72 29.91 27.70
12/31/2009 80.37 78.51 31.78 29.99
1/31/2010 70.26 68.55 25.97 24.62
2/28/2010 72.27 69.14 25.11 26.37
3/31/2010 85.30 82.80 32.92 34.20
4/30/2010 87.44 85.01 30.51 34.22
5/31/2010 73.50 68.74 15.49 21.36
6/30/2010 73.37 67.50 14.34 17.20
7/31/2010 90.10 81.45 25.19 26.70
8/31/2010 86.21 77.92 21.30 21.97
9/30/2010 108.90 97.70 33.18 33.34
10/31/2010 116.23 103.44 38.00 38.32
11/30/2010 110.97 98.07 31.35 35.33
12/31/2010 127.44 112.20 41.99 45.28
1/31/2011 115.25 106.44 45.34 48.56
2/28/2011 114.73 104.52 50.13 53.76
3/31/2011 125.43 116.54 46.77 52.25
4/30/2011 132.82 123.26 55.54 58.71
5/31/2011 126.53 117.40 50.94 55.42
6/30/2011 123.42 114.06 49.05 52.96
7/31/2011 120.25 113.11 46.68 50.19
8/31/2011 105.79 94.06 33.44 39.61
9/30/2011 78.30 65.77 20.72 27.55
10/31/2011 99.82 87.73 32.37 40.74
11/30/2011 92.11 75.22 25.94 37.31
12/31/2011 84.96 73.11 24.75 37.23
1/31/2012 101.50 92.74 31.40 44.12
2/29/2012 112.85 104.29 38.94 51.16
3/31/2012 112.06 97.47 38.30 53.10
4/30/2012 110.35 95.11 35.59 51.36
5/31/2012 88.57 73.23 20.02 38.30
6/30/2012 99.07 79.91 28.44 45.34
7/31/2012 99.66 83.42 29.90 47.21
8/31/2012 102.54 82.81 33.38 50.94
9/30/2012 112.85 93.84 37.33 55.09
10/31/2012 114.49 92.66 38.47 54.04
11/30/2012 114.42 95.11 41.82 56.01
12/31/2012 122.03 104.65 46.35 58.95
1/31/2013 127.94 107.47 54.07 67.04
2/28/2013 123.80 104.87 52.61 67.32
3/31/2013 121.90 101.34 53.86 71.24
4/30/2013 124.46 102.85 61.88 76.63
5/31/2013 123.21 97.65 57.97 76.70
6/30/2013 112.58 85.07 52.36 72.35
7/31/2013 119.74 87.00 60.40 81.42
8/31/2013 112.58 83.79 58.28 77.56
9/30/2013 130.95 95.74 69.98 86.44
10/31/2013 138.96 105.25 75.69 93.73
11/30/2013 136.99 102.25 77.04 97.18
12/31/2013 138.90 99.33 79.69 101.35
1/31/2014 119.98 86.38 72.45 93.89
2/28/2014 130.00 92.56 82.04 103.60
3/31/2014 134.22 98.47 80.88 103.89
4/30/2014 134.22 99.13 83.50 105.98
5/31/2014 143.92 106.08 86.48 110.04
6/30/2014 152.03 111.56 88.27 113.79
7/31/2014 150.97 115.65 84.58 110.38
8/31/2014 158.29 120.51 84.30 115.02
9/30/2014 142.53 104.16 77.21 109.18
10/31/2014 146.75 106.57 74.64 110.53
11/30/2014 142.33 104.39 77.01 114.75
12/31/2014 125.75 94.97 70.88 111.29
1/31/2015 122.73 96.13 71.72 107.46
2/28/2015 127.36 102.21 81.98 119.62
3/31/2015 122.26 99.33 79.22 116.18
4/30/2015 131.58 114.66 86.53 121.25
5/31/2015 127.02 106.07 85.58 122.01
6/30/2015 123.53 100.72 80.32 116.85
7/31/2015 112.80 86.80 84.07 120.74
8/31/2015 90.13 69.91 70.53 106.13
9/30/2015 84.43 64.79 61.87 98.53
10/31/2015 101.13 76.55 74.52 114.26
11/30/2015 96.97 69.66 71.80 113.20
12/31/2015 92.55 65.88 69.49 109.45
1/31/2016 81.21 55.12 57.23 96.92
2/29/2016 78.93 54.87 54.35 95.45
3/31/2016 97.98 75.36 64.40 108.72
4/30/2016 97.31 76.31 69.16 112.02
5/31/2016 95.63 69.74 67.62 113.21
6/30/2016 98.92 76.52 61.99 110.82
7/31/2016 105.36 85.40 70.20 119.73
8/31/2016 110.86 90.01 70.32 119.91
9/30/2016 115.82 92.45 72.42 121.08
10/31/2016 116.02 92.91 68.89 116.80
11/30/2016 104.96 84.03 65.53 119.92
12/31/2016 104.28 84.44 71.19 125.18
1/31/2017 114.28 94.53 76.15 130.62
2/28/2017 117.76 100.49 78.67 137.01
3/31/2017 126.28 105.55 83.59 139.54
4/30/2017 132.45 110.05 88.26 143.08
5/31/2017 138.82 116.26 95.17 148.23
6/30/2017 141.37 118.43 94.82 149.18
7/31/2017 154.38 131.45 100.44 155.15
8/31/2017 160.15 136.62 100.37 155.50
9/30/2017 160.69 135.68 105.35 161.24
10/31/2017 167.19 143.94 108.47 166.18
11/30/2017 165.65 144.43 110.66 171.94
12/31/2017 173.30 153.20 114.04 175.62
1/31/2018 195.23 174.31 124.78 190.17
2/28/2018 180.74 161.66 114.63 178.15
3/31/2018 180.74 156.79 110.76 172.09
4/30/2018 176.98 155.65 115.57 175.22
5/31/2018 175.91 146.59 110.73 176.94
6/30/2018 168.74 136.35 108.15 176.81
7/31/2018 169.94 141.54 113.28 185.46
8/31/2018 162.23 135.01 109.16 188.99
9/30/2018 159.08 133.76 110.97 190.60
10/31/2018 134.60 113.41 94.18 169.26
11/30/2018 146.07 122.20 93.94 172.32
12/31/2018 138.22 116.29 84.52 151.61

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 01/21/2019

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

(55.2% of assets as of 12/31/2018)


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 18.6% 30.4% -11.8%
India 11.7% 9.4% 2.3%
Hong Kong 8.3% - -
Russia 6.5% 3.7% 2.8%
France 6.1% - -
Brazil 5.8% 7.5% -1.7%
South Korea 5.8% 13.8% -8.0%
Mexico 5.7% 2.8% 2.9%
Taiwan 5.2% 11.4% -6.2%
Philippines 3.8% 1.1% 2.7%
United Kingdom 3.6% - -
South Africa 2.6% 6.2% -3.7%
United States 1.9% - -
United Arab Emirates 1.5% 0.8% 0.7%
Turkey 1.5% 0.6% 0.9%
Peru 1.3% 0.4% 0.9%
Singapore 1.1% - -
Chile 1.0% 1.1% -0.1%
Indonesia 1.0% 2.3% -1.3%
Cayman Islands 0.9% - -
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 9.7% - -
Asia Pacific 9.4% - -
Americas 2.8% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 47.1% 73.3% -26.2%
Americas 14.3% 12.2% 2.1%
Europe 8.0% 6.3% 1.7%
Africa 3.0% 6.4% -3.4%
Middle East 1.5% 1.9% -0.4%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Financials 24.4% 24.8% -0.4%
Consumer Discretionary 21.1% 10.4% 10.7%
Information Technology 8.6% 14.2% -5.6%
Consumer Staples 8.4% 6.7% 1.6%
Communication Services 7.5% 14.1% -6.6%
Materials 7.1% 7.7% -0.6%
Health Care 6.2% 2.8% 3.4%
Energy 5.4% 8.0% -2.6%
Industrials 5.3% 5.5% -0.3%
Real Estate 1.8% 3.0% -1.2%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Banks 10.3% 17.3% -7.0%
Internet & Direct Marketing Retail 8.4% 4.4% 4.0%
Textiles Apparel & Luxury Goods 7.1% 0.7% 6.4%
Interactive Media & Services 6.2% 6.6% -0.4%
Metals & Mining 5.9% 3.5% 2.4%
Oil Gas & Consumable Fuels 5.4% 7.9% -2.5%
Semiconductors & Semiconductor Equipment 5.2% 5.3% -0.1%
Capital Markets 4.9% 1.3% 3.6%
Thrifts & Mortgage Finance 3.8% 1.1% 2.7%
Hotels Restaurants & Leisure 3.5% 0.7% 2.8%
Food & Staples Retailing 2.8% 1.8% 1.0%
Insurance 2.8% 3.7% -0.9%
Industrial Conglomerates 2.7% 1.6% 1.1%
Beverages 2.7% 1.2% 1.5%
Personal Products 2.6% 0.8% 1.8%
Diversified Financial Services 2.2% 1.2% 1.0%
Multiline Retail 2.1% 0.7% 1.4%
Health Care Providers & Services 2.0% 0.5% 1.5%
Pharmaceuticals 1.9% 1.3% 0.5%
Real Estate Management & Development 1.8% 2.7% -0.8%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 95.8% 100.0% -4.2%
Net Cash and Equivalents 4.2% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 85.9% 89.7% -3.8%
Mid 6.8% 9.6% -2.8%
Small 0.5% 0.7% -0.2%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
708
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
-0.76
-1.59
Beta
0.87
0.90
Information Ratio
-0.43
-0.36
R-Squared
91.59
90.12
Sharpe Ratio
0.51
0.02
Standard Deviation
13.41
14.44
Upside Capture
84.44
85.24
Downside Capture
87.41
92.83
Sortino Ratio
0.81
0.03
Win Ratio
36.00
42.00
Loss Ratio
64.00
58.00
Tracking Error
4.38
4.78
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$77.71 B
$69.80 B
Median Market Cap (weighted)
$34.28 B
$18.97 B
P/E Ratio (LTM)
20.60
12.73
P/E Ratio (NTM)
16.19
10.99
Price/Book
2.74
1.71
Return on Equity
17.94%
17.47%
Turnover Ratio
36%
-
Active Share
80.11%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/5/2014
Per Share ($)
$0.0000
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 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.
  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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