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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
  • B
(as of 04/18/2019)
$43.63
Total Assets
(as of 03/31/2019)
$40.71 BN
Gross Expense Ratio
(as of 03/31/2019)
0.87%
Net Expense Ratio
(as of 03/31/2019)
0.87%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 03/31/2019
  • G
as of 03/31/2019
  • G

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2019-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
12.43% -3.75% 11.81% 3.88% - 6.47%
MSCI Emerging Markets Index
9.92% -7.41% 10.68% 3.68% 8.94% -
Cumulative
Annualized
ytd as of 2019-03-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
12.43% -3.75% 11.81% 3.88% - 6.47%
MSCI Emerging Markets Index
9.92% -7.41% 10.68% 3.68% 8.94% -
Gross Expense Ratio: 0.87% | Net Expense Ratio: 0.87%

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%
2018 -11.79% -14.57%

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
3/31/2009 0.00 0.00 0.00 0.00
4/30/2009 17.61 16.64 12.80 11.22
5/31/2009 38.64 36.57 26.15 21.29
6/30/2009 38.26 34.73 25.43 20.75
7/31/2009 52.71 49.88 36.88 30.97
8/31/2009 53.91 49.34 44.32 36.38
9/30/2009 66.92 62.90 49.85 41.81
10/31/2009 65.78 63.10 47.98 39.29
11/30/2009 75.69 70.11 50.94 44.98
12/31/2009 82.31 76.83 53.12 47.59
1/31/2010 72.16 66.96 46.37 41.49
2/28/2010 74.25 67.55 45.37 43.48
3/31/2010 87.57 81.08 54.44 52.37
4/30/2010 89.85 83.27 51.65 52.39
5/31/2010 75.78 67.15 34.20 37.79
6/30/2010 75.78 65.92 32.86 33.07
7/31/2010 92.89 79.74 45.46 43.85
8/31/2010 89.09 76.25 40.94 38.48
9/30/2010 112.22 95.84 54.75 51.40
10/31/2010 119.77 101.52 60.34 57.04
11/30/2010 114.57 96.20 52.62 53.65
12/31/2010 131.50 110.21 64.98 64.95
1/31/2011 119.18 104.50 68.87 68.67
2/28/2011 118.80 102.59 74.44 74.58
3/31/2011 129.78 114.51 70.53 72.86
4/30/2011 137.53 121.16 80.73 80.20
5/31/2011 131.24 115.36 75.39 76.46
6/30/2011 128.20 112.05 73.19 73.67
7/31/2011 125.02 111.10 70.44 70.52
8/31/2011 110.42 92.24 55.05 58.51
9/30/2011 82.43 64.21 40.27 44.82
10/31/2011 104.58 85.96 53.80 59.80
11/30/2011 96.78 73.57 46.34 55.90
12/31/2011 89.60 71.48 44.95 55.81
1/31/2012 106.67 90.93 52.68 63.63
2/29/2012 118.38 102.36 61.44 71.62
3/31/2012 117.73 95.61 60.69 73.83
4/30/2012 116.11 93.27 57.55 71.85
5/31/2012 93.87 71.60 39.46 57.02
6/30/2012 104.73 78.22 49.24 65.02
7/31/2012 105.44 81.70 50.93 67.14
8/31/2012 108.55 81.09 54.98 71.38
9/30/2012 119.28 92.02 59.57 76.09
10/31/2012 121.09 90.85 60.90 74.90
11/30/2012 121.16 93.28 64.78 77.14
12/31/2012 129.13 102.73 70.05 80.47
1/31/2013 135.36 105.52 79.02 89.66
2/28/2013 131.21 102.94 77.32 89.97
3/31/2013 129.39 99.44 78.78 94.42
4/30/2013 132.18 100.95 88.10 100.55
5/31/2013 131.01 95.79 83.55 100.62
6/30/2013 120.17 83.33 77.03 95.68
7/31/2013 127.70 85.24 86.37 105.98
8/31/2013 120.36 82.06 83.91 101.59
9/30/2013 139.58 93.90 97.50 111.68
10/31/2013 148.02 103.32 104.15 119.96
11/30/2013 146.14 100.35 105.71 123.87
12/31/2013 148.27 97.45 108.79 128.61
1/31/2014 128.75 84.63 100.38 120.14
2/28/2014 139.26 90.75 111.52 131.16
3/31/2014 143.83 96.60 110.17 131.50
4/30/2014 143.96 97.26 113.21 133.87
5/31/2014 154.22 104.14 116.67 138.47
6/30/2014 162.84 109.57 118.76 142.74
7/31/2014 161.92 113.62 114.47 138.86
8/31/2014 169.69 118.43 114.14 144.13
9/30/2014 153.43 102.24 105.91 137.50
10/31/2014 158.00 104.63 102.92 139.04
11/30/2014 153.56 102.46 105.68 143.83
12/31/2014 136.34 93.13 98.55 139.89
1/31/2015 133.35 94.29 99.52 135.55
2/28/2015 138.34 100.31 111.45 149.35
3/31/2015 133.15 97.46 108.24 145.45
4/30/2015 143.00 112.64 116.74 151.20
5/31/2015 138.40 104.13 115.63 152.07
6/30/2015 134.94 98.83 109.52 146.21
7/31/2015 123.83 85.05 113.87 150.63
8/31/2015 100.01 68.31 98.14 134.04
9/30/2015 94.16 63.24 88.08 125.41
10/31/2015 111.92 74.89 102.78 143.27
11/30/2015 107.66 68.07 99.63 142.06
12/31/2015 103.11 64.32 96.94 137.80
1/31/2016 91.28 53.66 82.69 123.58
2/29/2016 88.95 53.41 79.35 121.91
3/31/2016 109.19 73.71 91.02 136.97
4/30/2016 108.66 74.65 96.55 140.72
5/31/2016 106.98 68.14 94.76 142.08
6/30/2016 110.59 74.86 88.22 139.36
7/31/2016 117.54 83.66 97.76 149.48
8/31/2016 123.49 88.22 97.90 149.68
9/30/2016 128.97 90.64 100.34 151.01
10/31/2016 129.30 91.10 96.24 146.15
11/30/2016 117.74 82.30 92.33 149.69
12/31/2016 117.10 82.70 98.91 155.67
1/31/2017 127.88 92.70 104.68 161.84
2/28/2017 131.70 98.60 107.60 169.10
3/31/2017 140.94 103.61 113.32 171.97
4/30/2017 147.64 108.07 118.75 175.99
5/31/2017 154.60 114.22 126.77 181.83
6/30/2017 157.48 116.38 126.37 182.92
7/31/2017 171.54 129.28 132.90 189.69
8/31/2017 177.84 134.39 132.81 190.10
9/30/2017 178.58 133.46 138.61 196.61
10/31/2017 185.81 141.64 142.23 202.21
11/30/2017 184.27 142.13 144.77 208.76
12/31/2017 192.59 150.82 148.70 212.94
1/31/2018 216.37 171.73 161.17 229.46
2/28/2018 200.99 159.19 149.39 215.81
3/31/2018 201.19 154.38 144.89 208.93
4/30/2018 197.36 153.25 150.48 212.48
5/31/2018 196.42 144.28 144.85 214.43
6/30/2018 188.83 134.13 141.86 214.28
7/31/2018 190.31 139.27 147.81 224.10
8/31/2018 182.25 132.80 143.03 228.11
9/30/2018 178.96 131.56 145.14 229.94
10/31/2018 152.83 111.40 125.63 205.71
11/30/2018 165.32 120.11 125.34 209.18
12/31/2018 157.07 114.28 114.40 185.67
1/31/2019 178.89 133.04 128.49 207.90
2/28/2019 184.62 133.57 134.32 217.16
3/31/2019 188.73 135.53 135.80 221.33

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 04/20/2019

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

(57.1% of assets as of 03/31/2019)


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 25.7% 33.0% -7.4%
India 11.0% 9.2% 1.8%
Hong Kong 7.2% - -
Russia 6.3% 3.8% 2.5%
France 6.2% - -
Mexico 6.2% 2.7% 3.6%
Taiwan 5.0% 11.3% -6.3%
Brazil 4.5% 7.2% -2.7%
South Korea 3.9% 13.0% -9.1%
United Kingdom 3.6% - -
Philippines 3.5% 1.1% 2.4%
United States 2.6% - -
South Africa 2.2% 5.9% -3.6%
Turkey 1.4% 0.5% 0.8%
Chile 1.2% 1.0% 0.2%
Peru 1.2% 0.4% 0.8%
United Arab Emirates 1.0% 0.7% 0.2%
Singapore 1.0% - -
Indonesia 1.0% 2.2% -1.2%
Italy 0.6% - -
Developed Markets Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Europe 10.3% - -
Asia Pacific 8.2% - -
Americas 2.6% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Asia Pacific 50.8% 74.4% -23.6%
Americas 13.7% 11.8% 1.9%
Europe 7.6% 6.1% 1.5%
Africa 2.7% 6.0% -3.3%
Middle East 1.0% 1.6% -0.7%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Consumer Discretionary 24.6% 13.4% 11.2%
Financials 24.4% 24.2% 0.2%
Information Technology 8.5% 14.6% -6.0%
Consumer Staples 7.5% 6.4% 1.1%
Materials 7.4% 7.4% 0.1%
Health Care 6.8% 2.6% 4.1%
Communication Services 6.4% 12.3% -5.9%
Energy 4.8% 8.1% -3.3%
Industrials 4.5% 5.4% -0.9%
Real Estate 1.9% 3.2% -1.2%
Industry Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Banks 10.0% 16.7% -6.7%
Internet & Direct Marketing Retail 9.8% 7.4% 2.4%
Textiles Apparel & Luxury Goods 7.6% 0.8% 6.8%
Metals & Mining 6.2% 3.4% 2.8%
Interactive Media & Services 5.3% 6.8% -1.6%
Hotels Restaurants & Leisure 5.1% 0.8% 4.3%
Semiconductors & Semiconductor Equipment 5.0% 5.4% -0.4%
Oil Gas & Consumable Fuels 4.8% 8.0% -3.2%
Capital Markets 4.6% 1.4% 3.3%
Insurance 4.0% 3.9% 0.1%
Thrifts & Mortgage Finance 3.6% 1.0% 2.6%
Pharmaceuticals 3.4% 1.3% 2.1%
Beverages 2.6% 1.2% 1.4%
Food & Staples Retailing 2.6% 1.7% 1.0%
Industrial Conglomerates 2.4% 1.4% 1.0%
Multiline Retail 2.0% 0.6% 1.4%
Personal Products 2.0% 0.7% 1.3%
Real Estate Management & Development 1.9% 2.8% -0.9%
Diversified Financial Services 1.8% 0.9% 0.9%
Life Sciences Tools & Services 1.3% 0.2% 1.1%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Equity 96.8% 100.0% -3.2%
Net Cash and Equivalents 3.2% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index
Overweight / Underweight
Large 88.0% 89.4% -1.4%
Mid 6.8% 9.8% -3.1%
Small 0.3% 0.7% -0.4%
Analytics
(As of 03/31/2019)

Morningstar 03/31/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
707
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
1.99
0.50
Beta
0.89
0.89
Information Ratio
0.27
0.04
R-Squared
89.54
90.24
Sharpe Ratio
0.87
0.28
Standard Deviation
12.27
14.35
Upside Capture
93.47
90.59
Downside Capture
80.94
88.07
Sortino Ratio
1.41
0.42
Win Ratio
39.00
45.00
Loss Ratio
61.00
55.00
Tracking Error
4.23
4.77
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$96.24 B
$84.76 B
Median Market Cap (weighted)
$41.47 B
$20.96 B
P/E Ratio (LTM)
25.33
14.05
P/E Ratio (NTM)
18.59
12.24
Price/Book
3.41
1.89
Return on Equity
17.11%
17.07%
Turnover Ratio
36%
-
Active Share
79.54%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/3/2018
Per Share ($)
$0.3016
12-Month Distribution ($)
$0.3016
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. 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. 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>
  10. 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.
  11. 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.
  12. 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.
  13. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  14. F. 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.
  15. G. 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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