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ODVIX

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
December 29, 2011
Investment Style
Developing Markets
Fund Index
MSCI Emerging Markets Index
CUSIP
683974604
NAV
  • A
(as of 10/12/2018)
$38.34
Total Assets
(as of 09/30/2018)
$38.33 BN
Gross Expense Ratio
(as of 09/30/2018)
0.88%
Net Expense Ratio
(as of 09/30/2018)
0.88%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 09/30/2018
  • F
as of 09/30/2018
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-4.36% 0.55% 13.32% 3.54% - 6.40%
MSCI Emerging Markets Index
-7.68% -0.81% 12.36% 3.61% 5.40% -
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-4.36% 0.55% 13.32% 3.54% - 6.40%
MSCI Emerging Markets Index
-7.68% -0.81% 12.36% 3.61% 5.40% -
Gross Expense Ratio: 0.88% | Net Expense Ratio: 0.88%

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 Developing Markets Fund MSCI Emerging Markets Index
2012 21.43% 18.22%
2013 8.85% -2.60%
2014 -4.39% -2.19%
2015 -13.67% -14.92%
2016 7.38% 11.19%
2017 35.33% 37.28%

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.


Date Developing Markets Fund MSCI Emerging Markets Index MSCI EAFE MSCI World
9/30/2008 0.00 0.00 0.00 0.00
10/31/2008 -23.87 -27.37 -20.18 -18.96
11/30/2008 -31.81 -32.84 -24.49 -24.21
12/31/2008 -28.06 -27.60 -19.95 -21.77
1/31/2009 -32.95 -32.27 -27.81 -28.63
2/28/2009 -37.16 -36.09 -35.21 -35.93
3/31/2009 -28.29 -26.91 -31.11 -31.10
4/30/2009 -15.66 -14.75 -22.29 -23.37
5/31/2009 -0.58 -0.18 -13.09 -16.43
6/30/2009 -0.85 -1.52 -13.59 -16.81
7/31/2009 9.52 9.55 -5.70 -9.76
8/31/2009 10.38 9.16 -0.57 -6.04
9/30/2009 19.70 19.07 3.23 -2.29
10/31/2009 18.89 19.21 1.94 -4.03
11/30/2009 26.00 24.33 3.99 -0.11
12/31/2009 30.74 29.24 5.48 1.68
1/31/2010 23.46 22.04 0.84 -2.52
2/28/2010 24.96 22.46 0.14 -1.14
3/31/2010 34.51 32.35 6.40 4.98
4/30/2010 36.15 33.96 4.47 4.99
5/31/2010 26.05 22.17 -7.55 -5.06
6/30/2010 26.05 21.27 -8.47 -8.32
7/31/2010 38.33 31.37 0.21 -0.89
8/31/2010 35.60 28.82 -2.90 -4.59
9/30/2010 52.19 43.14 6.61 4.31
10/31/2010 57.60 47.29 10.46 8.20
11/30/2010 53.87 43.41 5.14 5.86
12/31/2010 66.01 53.64 13.66 13.65
1/31/2011 57.18 49.47 16.34 16.21
2/28/2011 56.91 48.08 20.18 20.28
3/31/2011 64.78 56.78 17.48 19.10
4/30/2011 70.34 61.65 24.50 24.16
5/31/2011 65.83 57.41 20.83 21.58
6/30/2011 63.65 54.99 19.31 19.66
7/31/2011 61.37 54.30 17.42 17.49
8/31/2011 50.90 40.51 6.81 9.21
9/30/2011 30.83 20.02 -3.36 -0.22
10/31/2011 46.71 35.92 5.95 10.10
11/30/2011 41.11 26.86 0.81 7.41
12/31/2011 35.97 25.33 -0.14 7.35
1/31/2012 48.21 39.55 5.19 12.74
2/29/2012 56.60 47.91 11.22 18.24
3/31/2012 56.14 42.97 10.70 19.76
4/30/2012 54.98 41.26 8.54 18.40
5/31/2012 39.03 25.42 -3.92 8.18
6/30/2012 46.82 30.26 2.81 13.70
7/31/2012 47.33 32.80 3.98 15.16
8/31/2012 49.56 32.36 6.77 18.08
9/30/2012 57.25 40.35 9.93 21.32
10/31/2012 58.55 39.50 10.84 20.50
11/30/2012 58.60 41.27 13.52 22.04
12/31/2012 64.31 48.17 17.15 24.34
1/31/2013 68.78 50.22 23.33 30.67
2/28/2013 65.80 48.33 22.16 30.89
3/31/2013 64.50 45.77 23.16 33.95
4/30/2013 66.50 46.87 29.58 38.17
5/31/2013 65.66 43.11 26.45 38.22
6/30/2013 57.89 34.00 21.96 34.82
7/31/2013 63.29 35.40 28.40 41.92
8/31/2013 58.03 33.07 26.70 38.90
9/30/2013 71.81 41.72 36.06 45.84
10/31/2013 77.86 48.61 40.64 51.55
11/30/2013 76.51 46.44 41.71 54.24
12/31/2013 78.04 44.32 43.84 57.51
1/31/2014 64.04 34.95 38.04 51.67
2/28/2014 71.58 39.42 45.72 59.27
3/31/2014 74.86 43.70 44.79 59.50
4/30/2014 74.95 44.18 46.88 61.13
5/31/2014 82.30 49.21 49.27 64.30
6/30/2014 88.49 53.17 50.71 67.24
7/31/2014 87.83 56.14 47.75 64.57
8/31/2014 93.40 59.65 47.52 68.20
9/30/2014 81.74 47.82 41.85 63.63
10/31/2014 85.02 49.56 39.79 64.69
11/30/2014 81.84 47.98 41.69 67.99
12/31/2014 69.49 41.16 36.79 65.28
1/31/2015 67.34 42.01 37.45 62.29
2/28/2015 70.92 46.40 45.67 71.80
3/31/2015 67.20 44.32 43.46 69.11
4/30/2015 74.26 55.42 49.32 73.07
5/31/2015 70.97 49.20 48.55 73.67
6/30/2015 68.48 45.32 44.34 69.63
7/31/2015 60.52 35.25 47.34 72.68
8/31/2015 43.43 23.02 36.50 61.25
9/30/2015 39.24 19.32 29.57 55.30
10/31/2015 51.98 27.83 39.70 67.61
11/30/2015 48.92 22.84 37.52 66.78
12/31/2015 45.66 20.10 35.67 63.84
1/31/2016 37.17 12.31 25.86 54.04
2/29/2016 35.50 12.13 23.55 52.90
3/31/2016 50.02 26.97 31.59 63.27
4/30/2016 49.63 27.66 35.40 65.85
5/31/2016 48.43 22.89 34.17 66.79
6/30/2016 51.02 27.81 29.67 64.92
7/31/2016 56.00 34.24 36.24 71.88
8/31/2016 60.27 37.57 36.34 72.03
9/30/2016 64.20 39.34 38.01 72.94
10/31/2016 64.44 39.67 35.19 69.59
11/30/2016 56.15 33.24 32.50 72.03
12/31/2016 55.69 33.54 37.03 76.15
1/31/2017 63.42 40.85 41.00 80.40
2/28/2017 66.16 45.16 43.02 85.41
3/31/2017 72.78 48.82 46.96 87.38
4/30/2017 77.59 52.08 50.70 90.16
5/31/2017 82.58 56.58 56.23 94.18
6/30/2017 84.65 58.15 55.95 94.93
7/31/2017 94.73 67.58 60.45 99.59
8/31/2017 99.25 71.32 60.39 99.87
9/30/2017 99.77 70.64 64.38 104.36
10/31/2017 104.96 76.62 66.88 108.22
11/30/2017 103.86 76.97 68.63 112.73
12/31/2017 109.83 83.33 71.33 115.61
1/31/2018 126.88 98.61 79.93 126.99
2/28/2018 115.85 89.45 71.81 117.59
3/31/2018 115.99 85.92 68.71 112.85
4/30/2018 113.25 85.10 72.56 115.29
5/31/2018 112.57 78.54 68.68 116.64
6/30/2018 107.13 71.12 66.62 116.54
7/31/2018 108.19 74.88 70.72 123.30
8/31/2018 102.41 70.16 67.43 126.06
9/30/2018 100.05 69.25 68.88 127.32

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 10/15/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 0.1792 0.5977
Total Amount of Distribution 0.1792 0.5977
Record Date 12/5/13 12/4/14
Ex Div Date 12/6/13 12/5/14
Pay Date 12/9/13 12/5/14

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

Portfolio

Top Issuers

(55.8% of assets as of 09/30/2018)


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 20.3% 31.0% -10.7%
India 9.2% 8.5% 0.7%
South Korea 8.3% 14.9% -6.6%
Hong Kong 7.5% - -
Russia 6.5% 3.7% 2.8%
France 6.2% - -
Taiwan 5.7% 12.3% -6.6%
Mexico 5.1% 3.2% 1.9%
Brazil 4.9% 6.2% -1.3%
United Kingdom 4.5% - -
Philippines 3.5% 1.0% 2.5%
South Africa 2.5% 6.1% -3.6%
United States 2.1% - -
United Arab Emirates 1.5% 0.7% 0.9%
Peru 1.2% 0.4% 0.8%
Singapore 1.1% - -
Indonesia 0.9% 2.0% -1.1%
Cayman Islands 0.8% - -
Colombia 0.7% 0.5% 0.2%
Turkey 0.6% 0.6% 0.0%
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 10.6% - -
Asia Pacific 8.5% - -
Americas 2.9% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 48.8% 74.6% -25.8%
Americas 12.0% 11.3% 0.7%
Europe 7.1% 6.3% 0.8%
Africa 2.9% 6.2% -3.3%
Middle East 1.5% 1.6% -0.1%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Consumer Discretionary 20.7% 10.6% 10.1%
Financials 19.8% 23.2% -3.4%
Information Technology 10.4% 15.8% -5.4%
Communication Services 9.4% 14.1% -4.7%
Consumer Staples 7.5% 6.6% 0.9%
Materials 7.4% 7.9% -0.5%
Health Care 6.9% 3.0% 3.9%
Energy 5.3% 8.2% -2.9%
Industrials 5.2% 5.4% -0.2%
Real Estate 1.8% 2.8% -1.0%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Interactive Media & Services 8.3% 6.8% 1.5%
Internet & Direct Marketing Retail 8.0% 4.5% 3.5%
Banks 7.9% 16.0% -8.1%
Textiles Apparel & Luxury Goods 7.5% 0.7% 6.9%
Metals & Mining 6.2% 3.5% 2.7%
Semiconductors & Semiconductor Equipment 5.7% 5.8% -0.1%
Oil Gas & Consumable Fuels 5.3% 8.1% -2.8%
Capital Markets 4.0% 1.2% 2.9%
Hotels Restaurants & Leisure 3.2% 0.7% 2.5%
Beverages 2.8% 1.3% 1.5%
Insurance 2.7% 3.8% -1.1%
Thrifts & Mortgage Finance 2.6% 0.8% 1.8%
Personal Products 2.5% 0.8% 1.7%
Health Care Providers & Services 2.5% 0.5% 2.1%
Industrial Conglomerates 2.4% 1.5% 0.9%
Diversified Financial Services 2.2% 1.2% 1.0%
Food & Staples Retailing 2.1% 1.8% 0.3%
Pharmaceuticals 1.9% 1.4% 0.5%
Real Estate Management & Development 1.8% 2.4% -0.6%
Transportation Infrastructure 1.7% 0.9% 0.8%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 94.4% 100.0% -5.6%
Net Cash and Equivalents 5.6% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 85.4% 89.3% -3.9%
Mid 5.8% 9.5% -3.7%
Small 0.4% 1.2% -0.8%
Analytics
(As of 09/30/2018)

Morningstar 09/30/2018 (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
2.49
0.30
Beta
0.84
0.88
Information Ratio
0.21
-0.01
R-Squared
89.88
88.76
Sharpe Ratio
0.98
0.28
Standard Deviation
12.72
13.63
Upside Capture
89.36
86.54
Downside Capture
74.32
84.75
Sortino Ratio
2.02
0.42
Win Ratio
42.00
45.00
Loss Ratio
58.00
55.00
Tracking Error
4.63
4.92
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$94.56 B
$78.93 B
Median Market Cap (weighted)
$31.85 B
$21.21 B
P/E Ratio (LTM)
22.30
14.53
P/E Ratio (NTM)
17.71
12.18
Price/Book
3.07
1.93
Return on Equity
17.94%
17.26%
Turnover Ratio
33%
-
Active Share
78.79%
-
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/4/2017
Per Share ($)
$0.3117
12-Month Distribution ($)
$0.3117
Distribution Sources
  • D
Net Income
87.20%
Net Profit from Sale
0.00%
Other Capital Sources
12.80%
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. 8. 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.
  9. 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.
  10. 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.  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. 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.
  12. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  13. E. 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.
  14. F. 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.
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