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OIBNX

International Bond Fund

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Overview

The strategy uses top down macro and bottom up country analyses to invest across foreign exchange, interest rates and credit securities in international and emerging markets.

Inception Date
March 1, 2001
Investment Style
International Bond
Fund Index
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
CUSIP
68380T400
NAV
  • A
(as of 09/21/2018)
$5.45
Total Assets
(as of 08/31/2018)
$5.47 BN
Gross Expense Ratio
(as of 08/31/2018)
1.27%
Net Expense Ratio
(as of 08/31/2018)
1.25%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 08/31/2018
as of 06/30/2018

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
Cumulative
Annualized
ytd as of 2018-06-30
  • B
1 yr 3 yr 5 yr 10 yr since inception
International Bond Fund (NAV)
-4.67% -1.25% 2.80% 1.70% 2.64% 6.51%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
-3.44% 0.61% 3.50% 1.20% 2.93% -
Cumulative
Annualized
ytd as of 2018-06-30
  • B
1 yr 3 yr 5 yr 10 yr since inception
International Bond Fund (with sales charge)
-4.67% -1.25% 2.80% 1.70% 2.64% 6.51%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
-3.44% 0.61% 3.50% 1.20% 2.93% -
Cumulative
Annualized
ytd as of 2018-08-31
  • B
1 yr 3 yr 5 yr 10 yr since inception
International Bond Fund (NAV)
-6.77% -6.14% 2.20% 1.53% 2.60% 6.31%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
-5.08% -4.64% 3.59% 1.04% 2.87% -
Cumulative
Annualized
ytd as of 2018-08-31
  • B
1 yr 3 yr 5 yr 10 yr since inception
International Bond Fund (with sales charge)
-6.77% -6.14% 2.20% 1.53% 2.60% 6.31%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
-5.08% -4.64% 3.59% 1.04% 2.87% -
Gross Expense Ratio: 1.27% | Net Expense Ratio: 1.25%

Year International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
2002 20.52% -
2003 25.28% 18.64%
2004 15.37% 14.24%
2005 2.67% -4.41%
2006 8.21% 8.92%
2007 13.29% 12.31%
2008 -1.26% 4.86%
2009 12.66% 10.26%
2010 7.50% 8.03%
2011 -0.73% 4.06%
2012 10.54% 9.08%
2013 -4.69% -5.95%
2014 0.07% -1.59%
2015 -3.99% -7.04%
2016 6.07% 6.00%
2017 10.40% 11.83%

Date International Bond Fund 50% Citi non US WGBI /30% JPM GBI-EM Global Diversified /20% JP EMBI Global Diversified BBG Barclays Agg
8/31/2008 0.00 0.00 0.00
9/30/2008 -5.11 -2.89 -1.34
10/31/2008 -11.50 -8.91 -3.67
11/30/2008 -9.15 -6.43 -0.54
12/31/2008 -2.68 1.45 3.17
1/31/2009 -5.98 -2.94 2.26
2/28/2009 -9.94 -6.54 1.88
3/31/2009 -7.14 -3.38 3.29
4/30/2009 -4.68 -0.83 3.79
5/31/2009 0.95 3.89 4.54
6/30/2009 1.26 4.45 5.14
7/31/2009 4.11 7.34 6.83
8/31/2009 6.09 9.39 7.94
9/30/2009 10.29 12.73 9.07
10/31/2009 10.78 13.09 9.61
11/30/2009 13.62 16.62 11.03
12/31/2009 9.63 11.86 9.29
1/31/2010 9.09 11.71 10.96
2/28/2010 9.74 12.28 11.38
3/31/2010 11.15 11.87 11.24
4/30/2010 11.69 11.64 12.40
5/31/2010 6.99 8.93 13.34
6/30/2010 8.38 10.62 15.12
7/31/2010 13.62 16.07 16.35
8/31/2010 14.86 18.08 17.85
9/30/2010 19.99 22.37 17.97
10/31/2010 22.13 24.63 18.39
11/30/2010 14.88 17.55 17.71
12/31/2010 17.85 20.84 16.44
1/31/2011 16.40 20.40 16.58
2/28/2011 17.26 21.26 16.87
3/31/2011 18.68 22.48 16.93
4/30/2011 23.56 27.23 18.42
5/31/2011 22.43 26.50 19.96
6/30/2011 23.14 27.09 19.61
7/31/2011 24.78 29.87 21.51
8/31/2011 24.33 31.63 23.29
9/30/2011 16.06 25.44 24.18
10/31/2011 19.14 28.31 24.32
11/30/2011 16.50 25.23 24.21
12/31/2011 16.99 25.74 25.57
1/31/2012 20.38 30.08 26.68
2/29/2012 21.10 31.13 26.65
3/31/2012 20.35 29.75 25.95
4/30/2012 21.62 31.52 27.35
5/31/2012 18.54 27.00 28.50
6/30/2012 20.82 30.14 28.55
7/31/2012 23.86 32.60 30.33
8/31/2012 24.63 33.60 30.41
9/30/2012 26.51 36.35 30.59
10/31/2012 27.07 36.25 30.85
11/30/2012 27.82 36.86 31.05
12/31/2012 29.31 37.15 30.87
1/31/2013 29.87 36.08 29.95
2/28/2013 29.03 34.55 30.60
3/31/2013 28.80 33.86 30.71
4/30/2013 31.16 36.79 32.03
5/31/2013 26.77 30.41 29.67
6/30/2013 21.50 27.26 27.67
7/31/2013 22.44 28.60 27.84
8/31/2013 19.78 26.08 27.19
9/30/2013 22.51 29.99 28.39
10/31/2013 24.43 32.55 29.43
11/30/2013 22.91 29.69 28.95
12/31/2013 23.24 28.99 28.22
1/31/2014 21.93 27.84 30.11
2/28/2014 23.88 31.34 30.80
3/31/2014 24.56 32.79 30.58
4/30/2014 25.67 34.36 31.68
5/31/2014 26.79 36.12 33.18
6/30/2014 27.48 37.42 33.25
7/31/2014 26.54 36.23 32.92
8/31/2014 27.05 36.82 34.39
9/30/2014 24.41 31.21 33.47
10/31/2014 25.12 31.78 34.78
11/30/2014 24.94 30.52 35.74
12/31/2014 23.33 26.94 35.87
1/31/2015 24.42 26.33 38.72
2/28/2015 24.67 25.43 37.41
3/31/2015 24.08 23.17 38.05
4/30/2015 24.17 25.82 37.56
5/31/2015 23.23 22.63 37.22
6/30/2015 21.66 21.81 35.73
7/31/2015 22.68 21.18 36.67
8/31/2015 21.08 19.42 36.48
9/30/2015 19.64 18.48 37.40
10/31/2015 20.37 20.81 37.42
11/30/2015 19.59 18.26 37.06
12/31/2015 18.41 18.00 36.62
1/31/2016 18.31 18.69 38.50
2/29/2016 17.96 22.02 39.48
3/31/2016 23.19 28.51 40.76
4/30/2016 25.77 31.20 41.30
5/31/2016 24.31 27.53 41.33
6/30/2016 26.92 33.48 43.87
7/31/2016 29.75 34.62 44.78
8/31/2016 30.84 34.42 44.62
9/30/2016 31.25 36.05 44.53
10/31/2016 29.57 32.24 43.43
11/30/2016 24.52 24.65 40.03
12/31/2016 25.60 25.08 40.23
1/31/2017 27.26 27.19 40.51
2/28/2017 28.78 28.60 41.45
3/31/2017 30.11 29.76 41.38
4/30/2017 31.66 31.66 42.47
5/31/2017 32.98 34.17 43.56
6/30/2017 33.85 34.24 43.42
7/31/2017 36.57 37.15 44.04
8/31/2017 37.72 39.22 45.33
9/30/2017 37.04 38.12 44.64
10/31/2017 36.59 36.53 44.72
11/30/2017 37.96 38.77 44.54
12/31/2017 38.65 39.88 45.20
1/31/2018 42.62 43.98 43.53
2/28/2018 40.94 42.49 42.17
3/31/2018 42.13 44.32 43.08
4/30/2018 39.08 40.87 42.01
5/31/2018 34.57 36.88 43.03
6/30/2018 32.18 35.07 42.85
7/31/2018 34.55 36.24 42.89
8/31/2018 29.26 32.76 43.80
Date Dividends
9/30/2008 0.0187
10/31/2008 0.0194
11/28/2008 0.0164
12/30/2008 0.1182
1/30/2009 0.0101
2/27/2009 0.0107
3/31/2009 0.019
4/30/2009 0.0179
5/29/2009 0.0178
6/30/2009 0.0187
7/31/2009 0.02
8/31/2009 0.0179
9/30/2009 0.0187
10/30/2009 0.0191
11/30/2009 0.0173
12/30/2009 0.0192
1/29/2010 0.0186
2/26/2010 0.0175
3/31/2010 0.0217
4/30/2010 0.0211
5/28/2010 0.0197
6/30/2010 0.0198
7/30/2010 0.0192
8/31/2010 0.0207
9/30/2010 0.0209
10/29/2010 0.0211
11/30/2010 0.0213
12/30/2010 0.0241
1/31/2011 0.0191
2/28/2011 0.0176
3/31/2011 0.0183
4/29/2011 0.0188
5/31/2011 0.0181
6/30/2011 0.0185
7/29/2011 0.0196
8/31/2011 0.0154
9/30/2011 0.0211
10/31/2011 0.0166
11/30/2011 0.0177
12/29/2011 0.1061
1/31/2012 0.0191
2/29/2012 0.0184
3/30/2012 0.0203
4/30/2012 0.0168
5/31/2012 0.0185
6/29/2012 0.0191
7/31/2012 0.0181
8/31/2012 0.0199
9/28/2012 0.0172
10/31/2012 0.0187
11/30/2012 0.0187
12/28/2012 0.0165
1/31/2013 0.0182
2/28/2013 0.0176
3/28/2013 0.0185
4/30/2013 0.019
5/31/2013 0.0194
6/28/2013 0.0157
7/31/2013 0.0171
8/30/2013 0.0176
9/30/2013 0.0157
10/31/2013 0.0148
11/29/2013 0.0149
12/30/2013 0.0143
1/31/2014 0.0155
2/28/2014 0.0155
3/31/2014 0.0131
4/30/2014 0.0144
5/30/2014 0.0148
6/30/2014 0.0135
7/31/2014 0.0144
8/29/2014 0.0145
9/30/2014 0.0127
10/31/2014 0.0141
11/28/2014 0.0114
12/31/2014 0.0128
1/30/2015 0.0123
2/27/2015 0.0117
3/31/2015 0.0122
4/30/2015 0.014
5/29/2015 0.0155
6/30/2015 0.0158
7/31/2015 0.0181
8/31/2015 0.0148
9/30/2015 0.0122
10/30/2015 0.0144
11/30/2015 0.0133
12/31/2015 0.0153
1/29/2016 0.0154
2/29/2016 0.0138
3/31/2016 0.0113
4/29/2016 0.0192
5/31/2016 0.0226
6/30/2016 0.0195
7/29/2016 0.019
8/31/2016 0.0199
9/30/2016 0.0184
10/31/2016 0.0242
11/30/2016 0.0226
12/30/2016 0.0284
1/31/2017 0.0242
2/28/2017 0.0176
3/31/2017 0.0187
4/28/2017 0.0185
5/31/2017 0.0178
6/30/2017 0.0184
7/31/2017 0.0189
8/31/2017 0.0198
9/29/2017 0.0205
10/31/2017 0.0206
11/30/2017 0.0193
12/29/2017 0.0197
1/31/2018 0.0199
2/28/2018 0.0182
3/29/2018 0.0205
4/30/2018 0.0206
5/31/2018 0.0197
6/29/2018 0.0191
7/31/2018 0.0194
8/31/2018 0.019

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

$ per share as of 09/22/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 0.0022
Total Amount of Distribution 0.0022
Record Date 12/30/13
Ex Div Date 12/30/13
Pay Date 12/30/13

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

Portfolio

Top Countries

(71.7% of assets as of 08/31/2018)


Portfolio Holdings Breakdown

Developed Markets
Emerging Markets
Strategy
Credit Rating Allocation 5
Currency 6
Developed Markets International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Europe 30.0% 30.2% -0.3%
Americas 4.1% 1.3% 2.8%
Asia Pacific 1.6% 16.9% -15.3%
Supranational 0.1% - -
Emerging Markets International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Americas 21.9% 18.2% 3.7%
Asia Pacific 13.9% 12.3% 1.5%
Africa 8.1% 5.4% 2.6%
Europe 7.6% 14.3% -6.7%
Middle East 0.7% 1.2% -0.5%
Strategy International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Credit: Developed Markets 18.1% - -
Credit: Emerging Markets 16.8% - -
Global Tactical Rates / FX: Global Tactical Rates 29.6% - -
Global Core Rates / FX: Global Core Rates 23.5% - -
Credit Rating Allocation International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
AAA 7.8% 8.9% -1.1%
AA 2.8% 15.0% -12.2%
A 12.7% 33.7% -21.0%
BBB 25.1% 25.5% -0.4%
BB 20.5% 6.8% 13.7%
B 10.5% 5.5% 5.0%
CCC 1.7% 0.0% 1.7%
CC 0.1% - -
Unrated 6.8% 4.4% 2.4%
Other -0.1% - -
Currency International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Japanese Yen 16.0% 15.3% 0.7%
Euro 10.2% 25.2% -15.0%
Polish Zloty 5.7% 3.3% 2.5%
Swedish Krona 4.7% 0.2% 4.5%
Indonesian Rupiah 4.5% 2.9% 1.6%
Norwegian Krone 4.5% 0.1% 4.4%
South African Rand 4.0% 2.9% 1.1%
British Pound 4.0% 4.2% -0.2%
Indian Rupee 3.6% - -
Russian Ruble 3.3% 2.3% 1.1%
Australian Dollar 3.2% 1.3% 1.8%
Colombian Peso 2.9% 2.2% 0.7%
Chilean Peso 2.5% 0.8% 1.7%
Mexican Peso 2.4% 3.5% -1.1%
Canadian Dollar 2.3% 1.3% 0.9%
Brazilian Real 2.2% 3.0% -0.8%
Argentine Peso 0.9% 0.2% 0.8%
Korean Won 0.6% - -
Chinese Renminbi 0.5% - -
Egyptian Pound 0.4% - -
Analytics
(As of 08/31/2018)

Morningstar 08/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
261
Category
World Bond
Performance Statistics
3Y
5Y
Alpha
-0.61
0.65
Beta
0.72
0.65
Information Ratio
-0.37
0.13
R-Squared
77.69
75.33
Sharpe Ratio
0.24
0.21
Standard Deviation
6.30
5.41
Sortino Ratio
0.34
0.30
Tracking Error
3.72
3.68
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
4.14%
Standardized Yield
3.69%
Unsubsidized Yield
3.67%
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
4.82%
-
Yield to Worst
4.82%
-
Average Effective Maturity
6.98 yrs
-
Current Duration
3.70 yrs
-
Average Coupon
5.31%
-
Turnover Ratio
96%
-
Dividends
  • C
Est. Frequency
Monthly
Last Pay Date
8/31/2018
Per Share ($)
$0.0190
12-Month Distribution ($)
$0.2364
Distribution Sources
  • C
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Fixed income investing entails credit and interest rate risks. Interest rate risk is the risk that rising interest rates or an expectation of rising interest rates in the near future, will cause the values of the Fund's investments to decline. Risks associated with rising interest rates are heightened given that rates in the U.S. are at or near historic lows. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. 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. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Currency derivative investments may be volatile and involve significant risks. Small and 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 small-sized or mid-sized company, if any gain is realized at all. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer. Regulation S securities are privately offered securities, may be illiquid, and involve a high degree of risk which may result in substantial losses to the Fund. 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.
  2. 2. 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.
  3. 3.

    The Reference Index is a customized weighted index currently comprised of 50% of the FTSE Non-U.S. Dollar World Government Bond Index, 30% of the JPMorgan Government Bond Index - Emerging Markets Global Diversified, and 20% of the JPMorgan Emerging Markets Bond Index Global Diversified. From January 1, 2003 through December 31, 2011, the underlying index weights were 70% FTSE Non-U.S. Dollar World Government Bond Index, 20% JPMorgan Government Bond Index - Emerging Markets Global Diversified and 10% JPMorgan Emerging Markets Bond Index Global Diversified.  The Reference Index returns reflect the weightings in effect for the time periods for which fund returns are disclosed, and weightings prior to January 1, 2012 are not restated.  The Fund is not managed to be invested in the same percentages as those indices comprising the Reference Index.  The FTSE Non-U.S. World Government Bond Index (FTSE WGBI Non-U.S.) is an index of fixed rate government bonds with a maturity of one year or longer and amounts outstanding of at least U.S. $25 million. The J.P. Morgan Government Bond Index-Emerging Markets Global Diversified is a comprehensive, global local Emerging Markets Index, and consists of regularly traded, liquid fixed-rate, domestic currency government bonds to which international investors can gain exposure.  The J.P. Morgan Emerging Markets Bond Index Global Diversified is a composite index representing an unleveraged investment in emerging market bonds that is broadly based across the spectrum of emerging market bonds and includes reinvestment of income (to represent real assets).   The indices are unmanaged, include reinvestment of dividends, are shown for illustrative purposes only, 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.

  4. 4. 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.
  5. 5. If included in the credit rating breakdown table above, all securities except for those labeled “Treasury,” “Agency,” and “Unrated,” have been rated by at least one Nationally Recognized Statistical Rating Organization (“NRSRO”), such as S&P Global Ratings ("S&P"). For securities rated only by an NRSRO other than S&P, OppenheimerFunds converts that rating to the equivalent S&P rating. If two or more NRSROs have assigned a rating to a security, the highest S&P equivalent rating is used. Unrated securities do not necessarily indicate low credit quality, and may or may not be the equivalent of investment-grade. “Investment-grade” securities are securities rated within the NRSRO’s four highest rating categories, which include AAA, AA, A and BBB. Please consult the Fund’s Prospectus and Statement of Additional Information for further information.
  6. 6. The table for the top currency positioning is based on the net foreign exchange exposure of each currency after converting all currencies to a common currency, in this case the U.S. dollar.
  7. 7. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end.  The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date.  For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date.  Each result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  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. "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. C. There is no guarantee of the payment of any dividend or other distributions at any level.
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