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ONYCX

Rochester® AMT-Free New York Municipal Fund

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Overview

The strategy typically seeks investment-grade bonds the income of which is exempt from federal, New York State, and New York City personal income taxes and the federal alternative minimum tax.

Inception Date
August 29, 1995
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683913305
NAV
  • B
(as of 01/22/2019)
$11.20
Total Assets
(as of 12/31/2018)
$869.58 MM
Gross Expense Ratio
(as of 12/31/2018)
1.78%
Net Expense Ratio
(as of 12/31/2018)
1.72%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • F
as of 12/31/2018
  • F

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • F
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free New York Municipal Fund (NAV)
5.79% 5.79% 3.24% 5.21% 7.52% 4.11%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free New York Municipal Fund (with sales charge)
4.79% 4.79% 3.24% 5.21% 7.52% 4.11%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free New York Municipal Fund (NAV)
5.79% 5.79% 3.24% 5.21% 7.52% 4.11%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® AMT-Free New York Municipal Fund (with sales charge)
4.79% 4.79% 3.24% 5.21% 7.52% 4.11%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Gross Expense Ratio: 1.78% | Net Expense Ratio: 1.72%

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 Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index
1996 3.22% 4.43%
1997 8.34% 9.19%
1998 5.02% 6.48%
1999 -5.20% -2.06%
2000 10.51% 11.68%
2001 3.66% 5.13%
2002 5.62% 9.60%
2003 6.12% 5.31%
2004 3.57% 4.48%
2005 7.32% 3.51%
2006 7.91% 4.84%
2007 -2.80% 3.36%
2008 -29.62% -2.47%
2009 40.36% 12.91%
2010 1.66% 2.38%
2011 12.30% 10.70%
2012 12.69% 6.78%
2013 -11.28% -2.55%
2014 13.24% 9.05%
2015 3.47% 3.30%
2016 3.22% 0.25%
2017 0.76% 5.45%
2018 5.79% 1.28%

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 Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
12/31/2008 0.00 0.00 0.00
1/31/2009 6.64 3.66 -0.88
2/28/2009 8.54 4.21 -1.26
3/31/2009 6.53 4.22 0.12
4/30/2009 12.82 6.31 0.59
5/31/2009 20.05 7.43 1.32
6/30/2009 17.99 6.43 1.90
7/31/2009 20.93 8.21 3.54
8/31/2009 30.11 10.06 4.62
9/30/2009 46.28 14.00 5.72
10/31/2009 40.26 11.61 6.24
11/30/2009 40.14 12.53 7.61
12/31/2009 41.43 12.91 5.93
1/31/2010 43.23 13.50 7.55
2/28/2010 45.43 14.60 7.95
3/31/2010 46.78 14.33 7.82
4/30/2010 50.14 15.72 8.94
5/31/2010 51.77 16.59 9.86
6/30/2010 49.26 16.65 11.58
7/31/2010 51.89 18.11 12.77
8/31/2010 56.58 20.81 14.22
9/30/2010 57.84 20.62 14.34
10/31/2010 59.04 20.29 14.75
11/30/2010 50.00 17.89 14.09
12/31/2010 44.89 15.60 12.86
1/31/2011 40.72 14.75 12.99
2/28/2011 42.02 16.58 13.27
3/31/2011 40.94 16.19 13.34
4/30/2011 43.79 18.27 14.78
5/31/2011 47.90 20.29 16.27
6/30/2011 50.34 20.71 15.93
7/31/2011 52.72 21.94 17.77
8/31/2011 54.23 24.03 19.49
9/30/2011 59.60 25.31 20.36
10/31/2011 58.87 24.84 20.49
11/30/2011 59.51 25.58 20.39
12/31/2011 63.84 27.97 21.71
1/31/2012 71.01 30.93 22.78
2/29/2012 72.39 31.06 22.75
3/31/2012 71.44 30.21 22.08
4/30/2012 74.18 31.71 23.43
5/31/2012 76.79 32.80 24.55
6/30/2012 76.69 32.66 24.60
7/31/2012 80.77 34.76 26.32
8/31/2012 81.46 34.92 26.40
9/30/2012 82.27 35.73 26.57
10/31/2012 84.34 36.11 26.82
11/30/2012 89.75 38.36 27.02
12/31/2012 86.23 36.65 26.84
1/31/2013 89.27 37.22 25.95
2/28/2013 90.04 37.63 26.58
3/31/2013 88.52 37.04 26.69
4/30/2013 91.51 38.54 27.97
5/31/2013 89.70 36.85 25.68
6/30/2013 79.14 32.97 23.74
7/31/2013 73.62 31.81 23.91
8/31/2013 65.37 29.93 23.28
9/30/2013 70.10 32.72 24.44
10/31/2013 71.13 33.77 25.45
11/30/2013 69.97 33.50 24.98
12/31/2013 66.41 33.16 24.27
1/31/2014 71.55 35.75 26.11
2/28/2014 77.07 37.34 26.78
3/31/2014 77.47 37.57 26.56
4/30/2014 79.64 39.23 27.63
5/31/2014 84.86 41.02 29.08
6/30/2014 81.82 41.14 29.15
7/31/2014 81.92 41.39 28.83
8/31/2014 86.72 43.10 30.25
9/30/2014 87.59 43.25 29.37
10/31/2014 87.62 44.23 30.64
11/30/2014 88.62 44.48 31.56
12/31/2014 90.05 45.21 31.69
1/31/2015 94.13 47.78 34.45
2/28/2015 93.62 46.26 33.18
3/31/2015 93.85 46.68 33.80
4/30/2015 92.47 45.91 33.32
5/31/2015 94.13 45.51 33.00
6/30/2015 90.16 45.37 31.55
7/31/2015 91.88 46.43 32.47
8/31/2015 92.94 46.72 32.28
9/30/2015 95.21 47.78 33.17
10/31/2015 95.86 48.37 33.19
11/30/2015 96.89 48.96 32.84
12/31/2015 97.97 50.00 32.41
1/31/2016 99.00 51.79 34.23
2/29/2016 99.87 52.03 35.19
3/31/2016 100.94 52.51 36.43
4/30/2016 101.87 53.63 36.95
5/31/2016 103.91 54.05 36.98
6/30/2016 111.88 56.50 39.45
7/31/2016 112.08 56.60 40.33
8/31/2016 112.55 56.81 40.17
9/30/2016 113.24 56.02 40.09
10/31/2016 111.33 54.39 39.01
11/30/2016 103.85 48.63 35.73
12/31/2016 106.09 50.37 35.92
1/31/2017 106.96 51.37 36.18
2/28/2017 108.72 52.42 37.10
3/31/2017 111.58 52.75 37.03
4/30/2017 114.55 53.86 38.08
5/31/2017 116.19 56.30 39.15
6/30/2017 115.19 55.74 39.01
7/31/2017 115.99 57.00 39.61
8/31/2017 117.72 58.19 40.86
9/30/2017 113.42 57.39 40.19
10/31/2017 108.85 57.77 40.27
11/30/2017 106.50 56.93 40.09
12/31/2017 109.06 58.57 40.73
1/31/2018 108.80 56.70 39.11
2/28/2018 109.68 56.23 37.79
3/31/2018 114.05 56.81 38.68
4/30/2018 114.42 56.25 37.64
5/31/2018 118.11 58.04 38.63
6/30/2018 120.54 58.17 38.46
7/31/2018 120.71 58.56 38.49
8/31/2018 124.14 58.96 39.38
9/30/2018 122.94 57.94 38.48
10/31/2018 119.94 56.96 37.39
11/30/2018 120.80 58.70 38.21
12/31/2018 122.88 60.60 40.75
Date Dividends
1/27/2009 0.044
2/24/2009 0.0436
3/24/2009 0.0437
4/21/2009 0.0437
5/26/2009 0.0429
6/23/2009 0.0442
7/28/2009 0.0428
8/25/2009 0.044
9/22/2009 0.0446
10/27/2009 0.0425
11/24/2009 0.0444
12/30/2009 0.0422
1/26/2010 0.0467
2/23/2010 0.0462
3/23/2010 0.0463
4/27/2010 0.0464
5/25/2010 0.0481
6/22/2010 0.0483
7/27/2010 0.0466
8/24/2010 0.0481
9/21/2010 0.048
10/26/2010 0.0471
11/23/2010 0.0491
12/30/2010 0.0472
1/25/2011 0.0504
2/22/2011 0.0498
3/22/2011 0.0497
4/26/2011 0.0982
5/24/2011 0.0496
6/21/2011 0.0495
7/26/2011 0.0478
8/23/2011 0.0494
9/27/2011 0.0477
10/25/2011 0.0493
11/22/2011 0.0493
12/29/2011 0.0466
1/24/2012 0.051
2/21/2012 0.05
3/27/2012 0.0483
4/24/2012 0.05
5/22/2012 0.0499
6/26/2012 0.0481
7/24/2012 0.0499
8/28/2012 0.047
9/25/2012 0.0487
10/23/2012 0.0485
11/27/2012 0.0468
12/28/2012 0.0451
1/22/2013 0.0482
2/19/2013 0.0466
3/26/2013 0.0448
4/23/2013 0.0466
5/28/2013 0.0441
6/25/2013 0.0464
7/23/2013 0.0452
8/27/2013 0.0436
9/24/2013 0.0452
10/22/2013 0.0454
11/26/2013 0.0446
12/30/2013 0.0449
1/28/2014 0.0467
2/25/2014 0.0467
3/25/2014 0.0466
4/22/2014 0.0467
5/27/2014 0.0449
6/24/2014 0.0465
7/22/2014 0.0466
8/26/2014 0.045
9/23/2014 0.0468
10/28/2014 0.0448
11/25/2014 0.0455
12/31/2014 0.0436
1/27/2015 0.0456
2/24/2015 0.0433
3/24/2015 0.0434
4/21/2015 0.0434
5/26/2015 0.0419
6/23/2015 0.0435
7/28/2015 0.042
8/25/2015 0.0426
9/22/2015 0.0425
10/27/2015 0.0409
11/24/2015 0.0426
12/31/2015 0.0405
1/26/2016 0.043
2/23/2016 0.0405
3/22/2016 0.0405
4/26/2016 0.0389
5/24/2016 0.0405
6/21/2016 0.0404
7/26/2016 0.0366
8/23/2016 0.0363
9/27/2016 0.0346
10/25/2016 0.0363
11/22/2016 0.0314
12/30/2016 0.0291
1/24/2017 0.0324
2/21/2017 0.0285
3/28/2017 0.0269
4/25/2017 0.0284
5/23/2017 0.0284
6/27/2017 0.0236
7/25/2017 0.0224
8/22/2017 0.0223
9/26/2017 0.0206
10/24/2017 0.0225
11/21/2017 0.0226
12/29/2017 0.02
1/23/2018 0.0238
2/20/2018 0.0207
3/27/2018 0.0191
4/24/2018 0.0206
5/22/2018 0.0205
6/26/2018 0.0188
7/24/2018 0.0204
8/28/2018 0.0187
9/25/2018 0.0203
10/23/2018 0.0204
11/27/2018 0.0188
12/31/2018 0.019

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

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 01/22/2019

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 Fixed Income Sectors

(109.4% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 9
Asset Allocation Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 112.6% 100.0% 12.6%
Equity 1.0% - -
Corporates 0.1% - -
State Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New York 97.5% 15.4% 82.1%
Puerto Rico 11.2% 0.3% 10.9%
Multistate Authority 0.9% 0.1% 0.8%
Northern Marianas 0.1% - -
Guam 0.1% 0.2% -0.1%
Credit Rating Allocation Rochester® AMT-Free New York Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 6.9% 19.5% -12.6%
AA 36.3% 56.3% -20.0%
A 28.1% 18.1% 10.0%
BBB 13.3% 4.9% 8.4%
BB 4.0% 0.1% 3.9%
B 0.2% - -
CCC 0.4% - -
CC 6.7% - -
C 0.9% - -
Unrated 15.9% 1.2% 14.7%
Other 1.0% - -
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
66
Category
Muni New York Long
Performance Statistics
3Y
5Y
Alpha
0.95
0.97
Beta
1.00
1.14
Information Ratio
0.31
0.45
R-Squared
55.55
57.13
Sharpe Ratio
0.48
0.97
Standard Deviation
4.56
4.63
Sortino Ratio
0.70
1.65
Tracking Error
3.04
3.07
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
2.04%
Standardized Yield
1.81%
Unsubsidized Yield
1.80%
Taxable Equivalent Yield
3.37%
Interest Income 12/31/2017
Exposed to AMT
0.0%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
8.11 yrs
6.35 yrs
Current Duration
6.70 yrs
6.60 yrs
Turnover Ratio
15%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
1/22/2019
Per Share ($)
$0.0238
12-Month Distribution ($)
$0.2411
Distribution Sources
  • E
Net Income
75.50%
Net Profit from Sale
0.00%
Other Capital Sources
24.50%
Tools
Documents
  1. 1. Available to investors only in certain states.
  2. 2. A portion of a municipal bond fund’s distributions may be subject to the alternative minimum tax (AMT). Capital gains distributions are taxable as capital gains.
  3. 3. 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. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Large sector holdings may expose investors to greater volatility and special risks associated with that sector. May invest substantially in municipal securities within a single state or related to similar type projects, which can increase volatility and exposure to regional issues. May invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Inverse floaters can be more volatile than conventional fixed-rate bonds and entail the use of leverage. The Fund may invest in the segment of the municipal bond market that is unrated by a Nationally Recognized Statistical Rating Organization (“NRSRO”).  Under certain market conditions, some unrated securities may trade less actively than rated securities.
  4. 4. The net expense ratio is not the result of a fee waiver or expense reimbursement.
  5. 5. The net expense ratio represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investments in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets these expenses; the Fund's total returns and net asset values are not affected by those offsets.
  6. 6. 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.
  7. 7. The Bloomberg Barclays Municipal Bond Index is an unmanaged index of a broad range of investment-grade municipal bonds that measures the performance of the general municipal bond market. 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.
  8. 8. 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.
  9. 9. All securities except for those labeled "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, Inc. converts that rating to the equivalent S&P rating.  If two or more NRSROs have assigned a rating to a security, the highest rating is used. Unrated securities do not necessarily indicate low credit quality.  The credit rating table values may not total 100% due to rounding.  

    "Investment-grade" securities are securities rated within the NRSROs four highest rating categories (AAA, AA, A and BBB.)  Securities not rated by an NRSRO may or may not be equivalent of investment grade. For further details, please consult the Fund's Prospectus or Statement of Additional Information.
  10. 10. 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.
  11. 11. 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.
  12. 12. Taxable equivalent yield is based on the standardized yield and the top federal and tax rate of 43.4% for 2017 and assumes that the federal Alternative Minimum Tax (AMT) does not apply. Calculations factor in the 3.8% tax on unearned income under the Patient Protection and Affordable Care Act, as applicable.
  13. 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>
  14. 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.
  15. 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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  16. 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.
  17. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  18. 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.
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