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QOPNX

Fundamental Alternatives Fund

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Overview

A fundamentally constructed alternative multi-strategy seeking to deliver high risk-adjusted returns across various market environments with low volatility and market beta.

Inception Date
March 1, 2001
Investment Style
Multi Alternative
Fund Index
HFRX Global Hedge Fund Index
CUSIP
68380E791
NAV
  • C
(as of 05/24/2019)
$25.44
Total Assets
(as of 04/30/2019)
$1.06 BN
Gross Expense Ratio
(as of 04/30/2019)
2.27%
Net Expense Ratio
(as of 04/30/2019)
2.24%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 04/30/2019
  • D
as of 03/31/2019
  • D

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • D
Cumulative
Annualized
ytd as of 2019-03-31
  • E
1 yr 3 yr 5 yr 10 yr since inception
Fundamental Alternatives Fund (NAV)
2.31% 0.05% 0.95% 1.14% 3.33% 2.20%
HFRX Global Hedge Fund Index
2.60% -3.32% 1.95% -0.30% 1.74% -
Cumulative
Annualized
ytd as of 2019-03-31
  • E
1 yr 3 yr 5 yr 10 yr since inception
Fundamental Alternatives Fund (with sales charge)
2.31% 0.05% 0.95% 1.14% 3.33% 2.20%
HFRX Global Hedge Fund Index
2.60% -3.32% 1.95% -0.30% 1.74% -
Cumulative
Annualized
ytd as of 2019-04-30
  • E
1 yr 3 yr 5 yr 10 yr since inception
Fundamental Alternatives Fund (NAV)
3.89% 2.40% 1.68% 1.46% 3.05% 2.28%
HFRX Global Hedge Fund Index
3.28% -2.77% 2.04% -0.02% 1.65% -
Cumulative
Annualized
ytd as of 2019-04-30
  • E
1 yr 3 yr 5 yr 10 yr since inception
Fundamental Alternatives Fund (with sales charge)
3.89% 2.40% 1.68% 1.46% 3.05% 2.28%
HFRX Global Hedge Fund Index
3.28% -2.77% 2.04% -0.02% 1.65% -
Gross Expense Ratio: 2.27% | Net Expense Ratio: 2.24%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Year Fundamental Alternatives Fund HFRX Global Hedge Fund Index
2002 -17.78% -
2003 21.59% -
2004 9.07% 2.69%
2005 1.46% 2.72%
2006 10.86% 9.26%
2007 11.91% 4.23%
2008 -20.57% -23.25%
2009 15.83% 13.40%
2010 7.49% 5.19%
2011 -6.60% -8.87%
2012 3.57% 3.57%
2013 8.62% 6.72%
2014 4.30% -0.58%
2015 1.69% -3.64%
2016 1.00% 2.50%
2017 1.05% 5.99%
2018 -2.36% -6.72%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Date Fundamental Alternatives Fund HFRX Global Hedge Fund Index BBG Barclays Agg S&P 500
4/30/2009 0.00 0.00 0.00 0.00
5/31/2009 2.33 3.15 0.73 5.59
6/30/2009 3.22 3.19 1.30 5.80
7/31/2009 5.37 4.83 2.93 13.81
8/31/2009 6.89 6.14 4.00 17.91
9/30/2009 8.63 8.50 5.09 22.31
10/31/2009 6.93 8.43 5.61 20.04
11/30/2009 8.54 10.23 6.98 27.24
12/31/2009 8.94 10.84 5.30 29.70
1/31/2010 6.93 10.82 6.91 25.03
2/28/2010 9.30 11.11 7.31 28.91
3/31/2010 12.21 12.65 7.18 36.69
4/30/2010 12.39 13.56 8.30 38.84
5/31/2010 8.45 10.56 9.21 27.76
6/30/2010 3.89 9.51 10.92 21.07
7/31/2010 8.68 10.86 12.10 29.55
8/31/2010 5.55 11.05 13.55 23.70
9/30/2010 10.20 12.95 13.67 34.74
10/31/2010 13.33 14.22 14.07 39.87
11/30/2010 12.57 13.91 13.42 39.89
12/31/2010 17.10 16.60 12.19 49.24
1/31/2011 18.29 17.25 12.32 52.77
2/28/2011 21.84 18.10 12.60 58.01
3/31/2011 20.75 17.07 12.67 58.07
4/30/2011 23.35 17.62 14.10 62.75
5/31/2011 23.21 15.98 15.59 60.91
6/30/2011 20.89 14.13 15.25 58.23
7/31/2011 18.56 14.01 17.08 55.01
8/31/2011 13.63 10.06 18.79 46.59
9/30/2011 10.67 6.77 19.65 36.29
10/31/2011 13.13 7.64 19.78 51.18
11/30/2011 10.39 6.71 19.68 50.85
12/31/2011 9.37 6.26 20.99 52.39
1/31/2012 9.92 8.09 22.05 59.22
2/29/2012 10.97 9.63 22.02 66.10
3/31/2012 11.92 9.60 21.36 71.57
4/30/2012 11.47 9.73 22.70 70.49
5/31/2012 10.37 7.88 23.81 60.25
6/30/2012 11.22 7.56 23.86 66.85
7/31/2012 11.92 8.14 25.57 69.17
8/31/2012 12.37 8.70 25.65 72.98
9/30/2012 13.57 9.12 25.82 77.45
10/31/2012 12.82 8.60 26.07 74.17
11/30/2012 13.12 9.05 26.27 75.18
12/31/2012 13.27 10.05 26.09 76.78
1/31/2013 14.53 12.21 25.21 85.93
2/28/2013 14.88 12.69 25.84 88.46
3/31/2013 15.73 13.50 25.94 95.52
4/30/2013 16.28 14.20 27.21 99.29
5/31/2013 17.38 15.06 24.94 103.95
6/30/2013 17.18 13.53 23.01 101.21
7/31/2013 17.93 14.67 23.18 111.45
8/31/2013 17.18 13.68 22.55 105.33
9/30/2013 17.23 14.77 23.71 111.77
10/31/2013 17.88 16.15 24.71 121.50
11/30/2013 20.23 16.79 24.24 128.25
12/31/2013 23.04 17.44 23.54 134.03
1/31/2014 23.54 17.16 25.36 125.94
2/28/2014 25.64 19.02 26.03 136.28
3/31/2014 25.74 18.75 25.82 138.26
4/30/2014 25.64 17.89 26.88 140.02
5/31/2014 27.09 18.42 28.32 145.66
6/30/2014 27.95 19.52 28.39 150.73
7/31/2014 27.15 18.46 28.07 147.27
8/31/2014 29.20 19.75 29.48 157.17
9/30/2014 28.80 18.84 28.60 153.56
10/31/2014 27.95 17.26 29.86 159.75
11/30/2014 28.65 17.65 30.79 166.74
12/31/2014 28.33 16.77 30.91 166.07
1/31/2015 29.35 16.43 33.65 158.08
2/28/2015 30.77 18.78 32.40 172.91
3/31/2015 31.18 19.17 33.01 168.60
4/30/2015 29.80 19.43 32.53 171.17
5/31/2015 31.43 19.74 32.21 174.66
6/30/2015 30.92 18.25 30.77 169.34
7/31/2015 32.40 18.22 31.68 174.99
8/31/2015 30.47 15.60 31.49 158.39
9/30/2015 30.26 13.21 32.38 152.00
10/31/2015 31.69 14.86 32.40 173.26
11/30/2015 31.02 14.03 32.05 174.07
12/31/2015 30.50 12.52 31.63 169.75
1/31/2016 30.04 9.41 33.44 156.36
2/29/2016 29.17 9.06 34.39 156.02
3/31/2016 29.32 10.41 35.62 173.38
4/30/2016 28.51 10.86 36.14 174.44
5/31/2016 31.77 11.37 36.17 179.37
6/30/2016 31.98 11.59 38.62 180.10
7/31/2016 31.32 13.21 39.50 190.42
8/31/2016 30.55 13.39 39.34 190.83
9/30/2016 31.11 14.02 39.26 190.89
10/31/2016 31.11 13.36 38.19 185.58
11/30/2016 31.06 14.35 34.92 196.16
12/31/2016 31.81 15.33 35.11 202.01
1/31/2017 30.88 15.91 35.38 207.74
2/28/2017 33.34 17.21 36.29 219.96
3/31/2017 32.16 17.25 36.22 220.33
4/30/2017 33.13 17.74 37.27 223.62
5/31/2017 34.31 18.03 38.32 228.17
6/30/2017 34.16 18.28 38.19 230.22
7/31/2017 33.34 19.38 38.78 237.01
8/31/2017 33.85 19.73 40.02 238.04
9/30/2017 34.16 20.44 39.36 245.02
10/31/2017 33.08 21.27 39.44 253.07
11/30/2017 34.11 21.35 39.26 263.90
12/31/2017 33.19 22.25 39.90 267.94
1/31/2018 35.62 25.24 38.29 289.01
2/28/2018 34.33 22.20 36.98 274.67
3/31/2018 32.98 21.00 37.85 265.15
4/30/2018 31.94 21.12 36.83 266.55
5/31/2018 32.20 21.43 37.81 275.38
6/30/2018 31.78 21.21 37.64 277.69
7/31/2018 33.70 21.03 37.67 291.74
8/31/2018 35.52 21.58 38.56 304.51
9/30/2018 36.25 20.74 37.66 306.81
10/31/2018 35.83 16.99 36.58 279.01
11/30/2018 34.59 16.27 37.39 286.73
12/31/2018 30.04 14.03 39.91 251.81
1/31/2019 31.83 16.45 41.40 280.00
2/28/2019 33.20 17.19 41.32 292.21
3/31/2019 33.04 16.99 44.03 299.83
4/30/2019 35.10 17.76 44.07 316.02

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 R 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 05/24/2019

Date 2014 2015 2016 2017 2018
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

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

Portfolio

Top Holdings by Strategy

(43.6% of assets as of 04/30/2019)


Long and Short Credit
Citibank NA, IG30 Index, Credit Default Swap
5.2%
RAMP Series 2006-NC3 Trust, Mtg. Asset-Backed Pass, FLT%, 3/25/36
1.5%
Residential Asset Securities Corp., (RASC 2006 KS2 M2), FLT%, 3/25/36
1.4%
M&T Bank Corp.
0.7%
Long and Short Equity
Philip Morris International, Inc.
2.2%
Cisco Systems, Inc.
2.1%
Standard and Poor's 500 Index (The) Call, 7/19/19, $2980
2.1%
Alphabet, Inc.
2.0%
CommVault Systems, Inc.
2.0%
Long and Short Macro
Euro-Bund Future, 2019-06-
5.5%
SPDR Gold Shares
4.0%

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector 7
Fixed Income Sector
Asset Allocation
Market Cap 8
Holding
Country Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
United States 97.2% - -
Germany 3.9% - -
Russia 1.3% - -
Ireland 1.1% - -
Taiwan 1.0% - -
Peru 0.4% - -
Switzerland 0.3% - -
Luxembourg 0.2% - -
Supranational (non-iso) 0.2% - -
Bermuda 0.1% - -
Australia 0.1% - -
Cayman Islands 0.1% - -
Canada -0.1% - -
Developed Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Americas 97.4% - -
Supranational 0.2% - -
Asia Pacific -2.9% - -
Europe -11.9% - -
Emerging Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Europe 1.3% - -
Americas 0.4% - -
Asia Pacific -6.1% - -
Equity Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Financials 10.1% - -
Broad Market 6.8% - -
Communication Services 5.2% - -
Health Care 4.0% - -
Industrials 3.5% - -
Energy 2.9% - -
Utilities 2.2% - -
Materials 2.1% - -
Consumer Discretionary -0.6% - -
Consumer Staples -1.0% - -
Information Technology -1.3% - -
Real Estate -5.7% - -
Fixed Income Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Corporates 12.8% - -
ABS 4.9% - -
Non Agencies MBS 4.8% - -
Catastrophe 1.2% - -
Sovereign -4.0% - -
Asset Allocation Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Equity 28.2% - -
Fixed Income 21.0% - -
Commodity 4.0% - -
Other -9.7% - -
Market Cap Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Large 29.1% - -
Small -0.2% - -
Mid -1.3% - -
Holding Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
JP Morgan PB Collateral Cash 16.8% - -
Citi PB Collateral Cash 16.6% - -
Euro-Bund Future, 2019-06- 5.5% - -
Citibank NA, IG30 Index, Credit Default Swap 5.2% - -
SPDR Gold Shares 4.0% - -
Philip Morris International, Inc. 2.2% - -
Cisco Systems, Inc. 2.1% - -
Standard and Poor's 500 Index (The) Call, 7/19/19, $2980 2.1% - -
Alphabet, Inc. 2.0% - -
CommVault Systems, Inc. 2.0% - -
Chubb Ltd. 1.9% - -
Standard and Poor's 500 Index (The) Call, 6/21/19, $2950 1.8% - -
S&P Mid 400 Emini, 2019-06- 1.6% - -
Lockheed Martin Corp. 1.6% - -
RAMP Series 2006-NC3 Trust, Mtg. Asset-Backed Pass, FLT%, 3/25/36 1.5% - -
M&T Bank Corp. 1.5% - -
Residential Asset Securities Corp., (RASC 2006 KS2 M2), FLT%, 3/25/36 1.4% - -
UnitedHealth Group, Inc. 1.4% - -
Blackstone Mortgage Trust, Inc. 1.4% - -
Standard and Poor's 500 Index (The) Call, 6/21/19, $2895 1.3% - -
Analytics
(As of 04/30/2019)

Morningstar 04/30/2019 (based on risk adjusted performance)
  • B
Overall Rating
Number of Funds
278
Category
Multialternative
Performance Statistics
3Y
5Y
Alpha
0.01
1.07
Beta
0.54
0.49
Information Ratio
-0.10
0.42
R-Squared
28.04
30.85
Sharpe Ratio
0.11
0.20
Standard Deviation
3.85
3.48
Sortino Ratio
0.15
0.29
Tracking Error
3.72
3.54
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
16.89
-
P/E Ratio (NTM)
12.86
-
Price/Book
2.50
-
Return on Equity
19.85%
-
Debt to Capital Ratio
58.13
-
Turnover Ratio
155%
-
Active Share
203.78%
-
Dividends
  • F
Est. Frequency
Annual
Last Pay Date
12/13/2018
Per Share ($)
$0.3913
12-Month Distribution ($)
$0.3913
Distribution Sources
  • F
Net Income
91.70%
Net Profit from Sale
0.00%
Other Capital Sources
8.30%
Documents
  1. 1. Effective 12/2/13, the Fund will limit the market value of its total short positions to not more than 40% of its net assets at the time a short sale is entered into.
  2. 2. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Short selling may increase volatility and risk of loss and is considered a speculative investment practice. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.  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. Commodity-linked investments are speculative and have substantial risks, including the loss of principal. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  3. 3. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  4. 4. 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.
  5. 5. The HFRX Global Hedge Fund Index is designed to be representative of the overall composition of the hedge fund universe. It is comprised of all eligible hedge fund strategies; including but not limited to convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, merger arbitrage, and relative value arbitrage. The strategies are asset weighted based on the distribution of assets in the hedge fund industry. Index performance is shown for illustrative purposes only, is unmanaged, and cannot be purchased directly by investors. Past performance does not guarantee future results.
  6. 6. 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.
  7. 7. The Equity allocation in the Sector Allocation table is net of short positions.
  8. 8. 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.
  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. 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 star s, and the bottom 10% receive 1 star. 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. 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. Oppenheimer Fundamental Alternatives Fund was rated against the following numbers of Multialternative funds over the following time periods: the fund was rated 3 stars among 278 funds in the last three years, 3 stars among 180 in the last five years, and 2 stars among 63 in the last ten years. <strong>Past performance does not guarantee future results.</strong>
  11. C. 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.
  12. D. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
     
  13. E. "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.
  14. F. There is no guarantee of the payment of any dividend or other distributions at any level.
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