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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
  • A
(as of 11/16/2018)
$36.30
Total Assets
(as of 10/31/2018)
$34.90 BN
Gross Expense Ratio
(as of 10/31/2018)
2.05%
Net Expense Ratio
(as of 10/31/2018)
2.05%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • B
as of 09/30/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-5.20% -0.62% 12.00% 2.32% 6.40% 10.88%
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 (with sales charge)
-6.15% -1.61% 12.00% 2.32% 6.40% 10.88%
MSCI Emerging Markets Index
-7.68% -0.81% 12.36% 3.61% 5.40% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (NAV)
-14.16% -12.20% 5.26% -0.37% 8.27% 10.33%
MSCI Emerging Markets Index
-15.72% -12.52% 6.52% 0.78% 7.84% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Developing Markets Fund (with sales charge)
-15.02% -13.08% 5.26% -0.37% 8.27% 10.33%
MSCI Emerging Markets Index
-15.72% -12.52% 6.52% 0.78% 7.84% -
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%

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
10/31/2008 0.00 0.00 0.00 0.00
11/30/2008 -10.45 -7.53 -5.41 -6.47
12/31/2008 -5.60 -0.32 0.28 -3.47
1/31/2009 -12.03 -6.75 -9.56 -11.93
2/28/2009 -17.66 -12.01 -18.84 -20.94
3/31/2009 -6.09 0.63 -13.69 -14.98
4/30/2009 10.36 17.38 -2.64 -5.44
5/31/2009 30.06 37.43 8.87 3.12
6/30/2009 29.63 35.58 8.26 2.66
7/31/2009 43.09 50.83 18.14 11.35
8/31/2009 44.13 50.29 24.56 15.95
9/30/2009 56.24 63.93 29.33 20.57
10/31/2009 55.08 64.13 27.71 18.42
11/30/2009 64.26 71.18 30.27 23.26
12/31/2009 70.26 77.94 32.15 25.47
1/31/2010 60.71 68.02 26.33 20.29
2/28/2010 62.61 68.61 25.46 21.98
3/31/2010 74.91 82.22 33.29 29.54
4/30/2010 76.93 84.43 30.88 29.56
5/31/2010 63.77 68.21 15.82 17.15
6/30/2010 63.65 66.97 14.67 13.13
7/31/2010 79.44 80.88 25.54 22.30
8/31/2010 75.77 77.36 21.64 17.74
9/30/2010 97.19 97.07 33.56 28.71
10/31/2010 104.11 102.80 38.39 33.51
11/30/2010 99.15 97.44 31.72 30.63
12/31/2010 114.69 111.53 42.39 40.23
1/31/2011 103.19 105.79 45.75 43.40
2/28/2011 102.70 103.87 50.56 48.42
3/31/2011 112.80 115.86 47.18 46.96
4/30/2011 119.77 122.56 55.98 53.20
5/31/2011 113.84 116.72 51.37 50.03
6/30/2011 110.90 113.38 49.47 47.65
7/31/2011 107.90 112.44 47.10 44.97
8/31/2011 94.25 93.45 33.82 34.76
9/30/2011 68.30 65.25 21.07 23.12
10/31/2011 88.62 87.14 32.74 35.86
11/30/2011 81.34 74.66 26.30 32.54
12/31/2011 74.59 72.56 25.10 32.47
1/31/2012 90.20 92.13 31.78 39.11
2/29/2012 100.92 103.64 39.34 45.91
3/31/2012 100.17 96.84 38.69 47.78
4/30/2012 98.56 94.49 35.97 46.11
5/31/2012 78.00 72.68 20.36 33.49
6/30/2012 87.91 79.34 28.80 40.30
7/31/2012 88.47 82.84 30.26 42.10
8/31/2012 91.19 82.23 33.76 45.70
9/30/2012 100.92 93.23 37.72 49.70
10/31/2012 102.46 92.06 38.86 48.69
11/30/2012 102.40 94.50 42.22 50.60
12/31/2012 109.59 104.01 46.77 53.43
1/31/2013 115.16 106.82 54.51 61.24
2/28/2013 111.26 104.22 53.04 61.51
3/31/2013 109.46 100.70 54.30 65.29
4/30/2013 111.88 102.22 62.34 70.50
5/31/2013 110.70 97.03 58.42 70.56
6/30/2013 100.67 84.48 52.79 66.36
7/31/2013 107.42 86.41 60.85 75.12
8/31/2013 100.67 83.21 58.72 71.39
9/30/2013 118.01 95.12 70.46 79.96
10/31/2013 125.57 104.60 76.19 87.01
11/30/2013 123.71 101.61 77.54 90.33
12/31/2013 125.51 98.70 80.20 94.36
1/31/2014 107.65 85.80 72.94 87.16
2/28/2014 117.11 91.95 82.55 96.53
3/31/2014 121.09 97.84 81.39 96.81
4/30/2014 121.09 98.50 84.01 98.83
5/31/2014 130.24 105.43 87.00 102.74
6/30/2014 137.90 110.89 88.80 106.37
7/31/2014 136.90 114.97 85.10 103.08
8/31/2014 143.81 119.81 84.82 107.55
9/30/2014 128.94 103.52 77.71 101.92
10/31/2014 132.92 105.92 75.13 103.22
11/30/2014 128.75 103.74 77.51 107.30
12/31/2014 113.09 94.35 71.36 103.95
1/31/2015 110.24 95.52 72.20 100.26
2/28/2015 114.61 101.57 82.50 111.99
3/31/2015 109.80 98.70 79.72 108.67
4/30/2015 118.60 113.99 87.06 113.57
5/31/2015 114.30 105.42 86.10 114.30
6/30/2015 111.00 100.08 80.83 109.32
7/31/2015 100.87 86.21 84.58 113.08
8/31/2015 79.48 69.37 71.01 98.98
9/30/2015 74.10 64.28 62.32 91.64
10/31/2015 89.86 75.99 75.01 106.82
11/30/2015 85.93 69.13 72.29 105.79
12/31/2015 81.76 65.36 69.97 102.18
1/31/2016 71.06 54.63 57.68 90.08
2/29/2016 68.90 54.38 54.79 88.67
3/31/2016 86.88 74.81 64.86 101.47
4/30/2016 86.25 75.76 69.63 104.66
5/31/2016 84.67 69.20 68.09 105.81
6/30/2016 87.77 75.96 62.45 103.50
7/31/2016 93.85 84.82 70.68 112.10
8/31/2016 99.04 89.41 70.80 112.28
9/30/2016 103.72 91.85 72.90 113.40
10/31/2016 103.91 92.30 69.37 109.27
11/30/2016 93.47 83.45 65.99 112.28
12/31/2016 92.83 83.86 71.67 117.36
1/31/2017 102.27 93.92 76.65 122.61
2/28/2017 105.56 99.85 79.17 128.78
3/31/2017 113.60 104.90 84.11 131.22
4/30/2017 119.42 109.39 88.79 134.64
5/31/2017 125.44 115.58 95.72 139.61
6/30/2017 127.84 117.75 95.37 140.53
7/31/2017 140.13 130.73 101.01 146.29
8/31/2017 145.57 135.87 100.93 146.63
9/30/2017 146.08 134.93 105.93 152.17
10/31/2017 152.22 143.17 109.06 156.93
11/30/2017 150.76 143.66 111.25 162.50
12/31/2017 157.98 152.40 114.64 166.05
1/31/2018 178.68 173.44 125.41 180.10
2/28/2018 165.01 160.83 115.24 168.50
3/31/2018 165.01 155.98 111.36 162.64
4/30/2018 161.46 154.85 116.18 165.66
5/31/2018 160.45 145.82 111.32 167.33
6/30/2018 153.67 135.60 108.74 167.20
7/31/2018 154.81 140.78 113.88 175.54
8/31/2018 147.53 134.27 109.75 178.95
9/30/2018 144.56 133.03 111.57 180.51
10/31/2018 121.45 112.73 94.73 159.91

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 11/17/2018

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

(56.2% of assets as of 10/31/2018)


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 20.0% 30.0% -10.1%
India 10.3% 8.7% 1.6%
Hong Kong 7.7% - -
Russia 6.5% 3.9% 2.5%
Brazil 6.3% 8.0% -1.7%
France 6.0% - -
South Korea 5.9% 14.0% -8.1%
Taiwan 5.4% 11.8% -6.4%
Mexico 5.1% 2.9% 2.2%
United Kingdom 4.7% - -
Philippines 3.8% 1.0% 2.8%
South Africa 2.5% 5.9% -3.5%
United States 2.0% - -
United Arab Emirates 1.6% 0.7% 0.9%
Peru 1.4% 0.4% 0.9%
Singapore 1.2% - -
Indonesia 0.9% 2.1% -1.2%
Chile 0.8% 1.1% -0.3%
Turkey 0.8% 0.7% 0.2%
Colombia 0.7% 0.4% 0.2%
Developed Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Europe 10.7% - -
Asia Pacific 8.8% - -
Americas 2.6% - -
Emerging Markets Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Asia Pacific 47.2% 72.7% -25.5%
Americas 14.2% 12.8% 1.4%
Europe 7.3% 6.6% 0.7%
Africa 2.9% 6.1% -3.1%
Middle East 1.6% 1.8% -0.2%
Equity Sector Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Financials 22.8% 24.5% -1.7%
Consumer Discretionary 21.2% 10.2% 11.0%
Information Technology 9.4% 15.1% -5.8%
Communication Services 7.9% 13.4% -5.6%
Materials 7.5% 7.8% -0.3%
Health Care 7.0% 2.9% 4.1%
Consumer Staples 7.0% 6.5% 0.5%
Energy 5.5% 8.7% -3.2%
Industrials 5.4% 5.4% 0.0%
Real Estate 1.9% 2.8% -0.9%
Industry Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Banks 9.2% 17.1% -7.9%
Internet & Direct Marketing Retail 8.2% 4.2% 4.0%
Textiles Apparel & Luxury Goods 7.1% 0.7% 6.5%
Interactive Media & Services 6.6% 6.1% 0.4%
Metals & Mining 6.5% 3.6% 2.9%
Oil Gas & Consumable Fuels 5.5% 8.6% -3.1%
Semiconductors & Semiconductor Equipment 5.4% 5.6% -0.1%
Capital Markets 5.1% 1.3% 3.9%
Thrifts & Mortgage Finance 3.2% 0.9% 2.3%
Hotels Restaurants & Leisure 3.2% 0.8% 2.5%
Health Care Providers & Services 2.7% 0.5% 2.2%
Insurance 2.7% 3.8% -1.2%
Beverages 2.7% 1.2% 1.5%
Industrial Conglomerates 2.6% 1.6% 1.0%
Pharmaceuticals 2.2% 1.4% 0.7%
Diversified Financial Services 2.2% 1.2% 1.0%
Food & Staples Retailing 2.1% 1.8% 0.3%
Personal Products 2.0% 0.7% 1.4%
Multiline Retail 2.0% 0.7% 1.4%
Real Estate Management & Development 1.9% 2.5% -0.5%
Asset Allocation Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Equity 95.5% 100.0% -4.5%
Net Cash and Equivalents 4.5% - -
Market Cap Developing Markets Fund MSCI Emerging Markets Index Overweight / Underweight
Large 85.7% 87.7% -1.9%
Mid 6.5% 11.1% -4.6%
Small 0.4% 1.2% -0.8%
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
710
Category
Diversified Emerging Mkts
Analyst Rating (as of 9/4/18)
Silver
Performance Statistics
3Y
5Y
Alpha
-0.43
-1.12
Beta
0.85
0.89
Information Ratio
-0.28
-0.24
R-Squared
91.46
89.48
Sharpe Ratio
0.38
0.00
Standard Deviation
13.18
14.21
Upside Capture
82.44
83.96
Downside Capture
83.48
89.45
Sortino Ratio
0.60
0.00
Win Ratio
36.00
43.00
Loss Ratio
64.00
57.00
Tracking Error
4.49
4.89
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$80.65 B
$67.00 B
Median Market Cap (weighted)
$32.52 B
$18.99 B
P/E Ratio (LTM)
20.20
13.25
P/E Ratio (NTM)
15.92
10.91
Price/Book
2.81
1.79
Return on Equity
17.77%
17.09%
Turnover Ratio
36%
-
Active Share
79.70%
-
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/5/2014
Per Share ($)
$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. 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.
  9. 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 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.
  10. 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.
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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