INBQX

International Bond Fund
  • A
  • 1

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
May 28, 2019
Investment Style
International Bond
Fund Index
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
CUSIP
00143K632
NAV
  • B
(as of 06/14/2019)
$5.51
Total Assets
(as of 05/31/2019)
$4.76 BN
Gross Expense Ratio
(as of 05/25/2019)
0.62%
Net Expense Ratio
(as of 05/25/2019)
0.61%
Performance
Average Annual Total Returns
Dividends
Capital Gains Distributions
as of 05/31/2019
  • C
as of 03/31/2019
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
3 mo ytd as of 2019-03-31
  • D
1 yr 3 yr 5 yr 10 yr
International Bond Fund (NAV)
3.48% 3.48% -5.04% 3.25% 1.82% 4.11%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
3.02% 3.02% -3.73% 2.64% 0.91% 3.70%
Cumulative
Annualized
3 mo ytd as of 2019-03-31
  • D
1 yr 3 yr 5 yr 10 yr
International Bond Fund (with sales charge)
3.48% 3.48% -5.04% 3.25% 1.82% 4.11%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
3.02% 3.02% -3.73% 2.64% 0.91% 3.70%
Cumulative
Annualized
3 mo ytd as of 2019-05-31
  • D
1 yr 3 yr 5 yr 10 yr
International Bond Fund (NAV)
-0.54% 3.56% 0.30% 3.02% 1.47% 3.25%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
0.85% 3.56% 2.04% 3.08% 0.52% 3.00%
Cumulative
Annualized
3 mo ytd as of 2019-05-31
  • D
1 yr 3 yr 5 yr 10 yr
International Bond Fund (with sales charge)
-0.54% 3.56% 0.30% 3.02% 1.47% 3.25%
50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified
0.85% 3.56% 2.04% 3.08% 0.52% 3.00%
Gross Expense Ratio: 0.62% | Net Expense Ratio: 0.61%

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.


Year International Bond Fund

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.


Date Dividends
5/31/2019 0.0024

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

Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.

$ per share as of 06/17/2019

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 Countries

(75.1% of assets as of 05/31/2019)


Portfolio Holdings Breakdown

Developed Markets
Emerging Markets
Strategy
Credit Rating Allocation 4
Currency 5
Developed Markets International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Europe 11.1% 29.9% -18.8%
Americas 2.6% 1.3% 1.3%
Asia Pacific 0.6% 17.3% -16.6%
Emerging Markets International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Americas 24.0% 17.8% 6.2%
Asia Pacific 20.1% 12.3% 7.7%
Europe 12.9% 13.5% -0.6%
Africa 8.6% 5.5% 3.1%
Middle East 1.2% 2.5% -1.3%
Multi -0.6% - -
Strategy International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Global Tactical Rates / FX: Global Tactical Rates 42.5% - -
Credit: Emerging Markets 14.8% - -
Credit: Developed Markets 11.9% - -
Global Core Rates / FX: Global Core Rates 11.3% - -
Credit Rating Allocation International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Treasury 2.7% - -
AAA 0.6% 8.6% -8.0%
AA 4.1% 15.0% -10.9%
A 14.3% 32.9% -18.6%
BBB 25.0% 24.0% 1.1%
BB 20.1% 7.3% 12.9%
B 8.5% 5.4% 3.1%
CCC 1.3% 0.0% 1.2%
CC 0.3% - -
Unrated 13.3% 6.6% 6.7%
Other -9.9% - -
Currency International Bond Fund 50% FTSE Non-USD WGBI /30% JPM GBI-EM Global Diversified /20% JPM EMBI Global Diversified Overweight / Underweight
Japanese Yen 9.2% 15.7% -6.4%
Euro 7.3% 24.9% -17.7%
Norwegian Krone 6.7% 0.2% 6.5%
Brazilian Real 6.1% 3.0% 3.1%
South African Rand 5.0% 2.9% 2.1%
Colombian Peso 4.6% 2.1% 2.5%
Polish Zloty 4.6% 3.1% 1.5%
British Pound 4.6% 4.2% 0.4%
Indonesian Rupiah 4.3% 3.0% 1.3%
Swedish Krona 4.0% 0.2% 3.7%
Mexican Peso 4.0% 3.5% 0.5%
Chilean Peso 4.0% 1.0% 3.0%
Russian Ruble 3.6% 2.4% 1.2%
Canadian Dollar 3.2% 1.3% 2.0%
Indian Rupee 2.6% - -
Korean Won 2.4% - -
Argentine Peso 1.7% 0.1% 1.6%
Malaysian Ringgit 1.3% 2.1% -0.9%
Australian Dollar 1.1% 1.3% -0.2%
Egyptian Pound 0.7% - -
Analytics
(As of 05/31/2019)

Yields
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
5.35%
-
Yield to Worst
5.34%
-
Average Effective Maturity
7.38 yrs
-
Current Duration
3.39 yrs
-
Average Coupon
5.74%
-
Turnover Ratio
115%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
5/31/2019
Per Share ($)
$0.0024
12-Month Distribution ($)
$0.0024
Team
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. Fund performance reflects fee waivers, absent which, performance data quoted would have been lower. Total annual fund operating expenses after any contractual fee waivers and/or expense reimbursements by the adviser in effect through May 28, 2021. See current prospectus for more information.
  3. 3. 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.
  4. 4. 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.
  5. 5. 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.
  6. 6. 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.
  7. 7. 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.
  8. 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>
  9. 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.
  10. C. Performance shown prior to the inception date of Class R5 shares is that of Class A shares and includes the 12-b1 fees applicable to Class A shares. Class R5 shares have no sales charge; therefore, performance is at NAV.
  11. 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.
  12. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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