Spoof Access

×
ORNCX

Rochester® High Yield Municipal Fund

×
Overview

The Strategy typically invests in high-yield municipal bonds issued across the United States.

Inception Date
August 29, 1995
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683940886
NAV
  • B
(as of 11/12/2018)
$7.23
Total Assets
(as of 10/31/2018)
$5.91 BN
Gross Expense Ratio
(as of 10/31/2018)
1.78%
Net Expense Ratio
(as of 10/31/2018)
1.60%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • F
as of 09/30/2018
  • F

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • F
Cumulative
Annualized
ytd as of 2018-09-30
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® High Yield Municipal Fund (NAV)
9.30% 7.90% 7.39% 7.64% 5.72% 4.09%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% -
Cumulative
Annualized
ytd as of 2018-09-30
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® High Yield Municipal Fund (with sales charge)
8.30% 6.90% 7.39% 7.64% 5.72% 4.09%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% -
Cumulative
Annualized
ytd as of 2018-10-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® High Yield Municipal Fund (NAV)
7.58% 7.69% 6.40% 7.04% 8.03% 4.01%
Bloomberg Barclays Municipal Index
-1.01% -0.51% 1.90% 3.25% 4.80% -
Cumulative
Annualized
ytd as of 2018-10-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® High Yield Municipal Fund (with sales charge)
6.58% 6.69% 6.40% 7.04% 8.03% 4.01%
Bloomberg Barclays Municipal Index
-1.01% -0.51% 1.90% 3.25% 4.80% -
Gross Expense Ratio: 1.78% | Net Expense Ratio: 1.60%

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® High Yield Municipal Fund Bloomberg Barclays Municipal Index
1996 3.18% 4.43%
1997 8.18% 9.19%
1998 5.15% 6.48%
1999 -5.80% -2.06%
2000 10.01% 11.68%
2001 4.44% 5.13%
2002 4.98% 9.60%
2003 14.07% 5.31%
2004 9.64% 4.48%
2005 9.13% 3.51%
2006 9.66% 4.84%
2007 -10.96% 3.36%
2008 -49.30% -2.47%
2009 50.08% 12.91%
2010 0.98% 2.38%
2011 10.89% 10.70%
2012 18.02% 6.78%
2013 -7.91% -2.55%
2014 15.16% 9.05%
2015 4.01% 3.30%
2016 4.24% 0.25%
2017 6.16% 5.45%

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® High Yield Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
10/31/2008 0.00 0.00 0.00
11/30/2008 -3.10 0.32 3.25
12/31/2008 -16.60 1.78 7.11
1/31/2009 -9.83 5.51 6.16
2/28/2009 -8.76 6.06 5.76
3/31/2009 -12.76 6.08 7.23
4/30/2009 -6.78 8.20 7.74
5/31/2009 5.05 9.34 8.53
6/30/2009 1.78 8.32 9.14
7/31/2009 1.87 10.13 10.90
8/31/2009 13.07 12.01 12.05
9/30/2009 29.20 16.03 13.23
10/31/2009 23.31 13.60 13.79
11/30/2009 21.64 14.54 15.26
12/31/2009 26.22 14.92 13.46
1/31/2010 28.07 15.52 15.19
2/28/2010 29.26 16.64 15.62
3/31/2010 30.31 16.36 15.48
4/30/2010 33.47 17.78 16.68
5/31/2010 32.51 18.66 17.66
6/30/2010 31.53 18.73 19.51
7/31/2010 33.83 20.21 20.79
8/31/2010 37.92 22.96 22.34
9/30/2010 38.42 22.77 22.47
10/31/2010 39.78 22.43 22.91
11/30/2010 32.69 19.98 22.20
12/31/2010 28.44 17.66 20.88
1/31/2011 24.32 16.79 21.02
2/28/2011 27.35 18.65 21.32
3/31/2011 26.91 18.26 21.39
4/30/2011 30.11 20.37 22.93
5/31/2011 34.26 22.43 24.54
6/30/2011 37.19 22.86 24.17
7/31/2011 40.05 24.11 26.14
8/31/2011 39.61 26.23 27.99
9/30/2011 42.53 27.54 28.92
10/31/2011 40.84 27.07 29.06
11/30/2011 39.23 27.82 28.94
12/31/2011 43.47 30.25 30.36
1/31/2012 50.04 33.26 31.51
2/29/2012 52.18 33.39 31.48
3/31/2012 53.26 32.52 30.75
4/30/2012 56.12 34.05 32.20
5/31/2012 58.56 35.17 33.40
6/30/2012 58.96 35.02 33.45
7/31/2012 63.34 37.16 35.29
8/31/2012 64.25 37.32 35.38
9/30/2012 65.77 38.15 35.57
10/31/2012 67.82 38.54 35.83
11/30/2012 72.64 40.82 36.05
12/31/2012 70.53 39.08 35.86
1/31/2013 73.30 39.66 34.91
2/28/2013 73.71 40.08 35.58
3/31/2013 73.89 39.48 35.69
4/30/2013 76.43 41.00 37.06
5/31/2013 76.20 39.28 34.62
6/30/2013 64.56 35.34 32.54
7/31/2013 59.77 34.16 32.72
8/31/2013 53.51 32.24 32.04
9/30/2013 58.44 35.09 33.29
10/31/2013 60.40 36.15 34.37
11/30/2013 59.84 35.87 33.86
12/31/2013 58.29 35.53 33.11
1/31/2014 64.00 38.17 35.07
2/28/2014 68.85 39.79 35.79
3/31/2014 69.89 40.02 35.56
4/30/2014 72.13 41.70 36.70
5/31/2014 76.76 43.53 38.26
6/30/2014 74.84 43.65 38.33
7/31/2014 75.17 43.91 37.98
8/31/2014 80.15 45.65 39.51
9/30/2014 80.65 45.80 38.56
10/31/2014 80.66 46.80 39.92
11/30/2014 82.68 47.05 40.92
12/31/2014 83.83 47.79 41.05
1/31/2015 88.10 50.41 44.00
2/28/2015 86.26 48.86 42.65
3/31/2015 85.79 49.29 43.31
4/30/2015 85.50 48.51 42.80
5/31/2015 86.97 48.10 42.45
6/30/2015 82.19 47.96 40.90
7/31/2015 83.21 49.03 41.88
8/31/2015 84.02 49.33 41.68
9/30/2015 87.50 50.41 42.64
10/31/2015 90.12 51.01 42.66
11/30/2015 90.89 51.61 42.28
12/31/2015 92.60 52.67 41.82
1/31/2016 93.87 54.49 43.77
2/29/2016 95.54 54.74 44.79
3/31/2016 98.34 55.23 46.12
4/30/2016 100.14 56.37 46.68
5/31/2016 102.76 56.79 46.72
6/30/2016 109.24 59.29 49.36
7/31/2016 110.53 59.38 50.30
8/31/2016 111.64 59.60 50.13
9/30/2016 113.15 58.80 50.04
10/31/2016 111.14 57.14 48.89
11/30/2016 101.14 51.28 45.37
12/31/2016 102.24 53.05 45.58
1/31/2017 105.27 54.06 45.86
2/28/2017 109.49 55.13 46.84
3/31/2017 116.33 55.47 46.77
4/30/2017 118.04 56.59 47.90
5/31/2017 121.22 59.08 49.04
6/30/2017 119.74 58.51 48.89
7/31/2017 119.93 59.79 49.53
8/31/2017 120.67 61.01 50.87
9/30/2017 118.51 60.19 50.15
10/31/2017 115.65 60.58 50.24
11/30/2017 113.50 59.72 50.04
12/31/2017 116.09 61.39 50.73
1/31/2018 116.69 59.49 49.00
2/28/2018 117.57 59.01 47.58
3/31/2018 122.79 59.60 48.53
4/30/2018 126.62 59.03 47.43
5/31/2018 130.13 60.85 48.48
6/30/2018 133.50 60.99 48.30
7/31/2018 133.87 61.38 48.33
8/31/2018 138.87 61.79 49.29
9/30/2018 137.56 60.75 48.32
10/31/2018 133.65 59.76 47.15
Date Dividends
11/25/2008 0.0532
12/30/2008 0.0528
1/27/2009 0.0538
2/24/2009 0.0536
3/24/2009 0.0427
4/21/2009 0.0428
5/26/2009 0.0417
6/23/2009 0.0423
7/28/2009 0.0415
8/25/2009 0.0424
9/22/2009 0.042
10/27/2009 0.0406
11/24/2009 0.0419
12/30/2009 0.0405
1/26/2010 0.042
2/23/2010 0.0417
3/23/2010 0.0418
4/27/2010 0.0407
5/25/2010 0.0417
6/22/2010 0.0418
7/27/2010 0.0407
8/24/2010 0.0417
9/21/2010 0.0417
10/26/2010 0.0406
11/23/2010 0.0418
12/30/2010 0.0406
1/25/2011 0.0426
2/22/2011 0.0422
3/22/2011 0.0421
4/26/2011 0.0412
5/24/2011 0.0421
6/21/2011 0.042
7/26/2011 0.041
8/23/2011 0.0419
9/27/2011 0.0409
10/25/2011 0.042
11/22/2011 0.039
12/29/2011 0.0374
1/24/2012 0.0394
2/21/2012 0.0388
3/27/2012 0.0377
4/24/2012 0.0388
5/22/2012 0.0377
6/26/2012 0.0366
7/24/2012 0.0377
8/28/2012 0.0355
9/25/2012 0.0366
10/23/2012 0.0365
11/27/2012 0.0354
12/28/2012 0.0355
1/22/2013 0.0375
2/19/2013 0.0365
3/26/2013 0.0354
4/23/2013 0.0365
5/28/2013 0.0352
6/25/2013 0.0366
7/23/2013 0.0369
8/27/2013 0.036
9/24/2013 0.0371
10/22/2013 0.037
11/26/2013 0.036
12/30/2013 0.0362
1/28/2014 0.0371
2/25/2014 0.0371
3/25/2014 0.037
4/22/2014 0.037
5/27/2014 0.0359
6/24/2014 0.0369
7/22/2014 0.037
8/26/2014 0.036
9/23/2014 0.0369
10/28/2014 0.0359
11/25/2014 0.0369
12/31/2014 0.0357
1/27/2015 0.035
2/24/2015 0.0348
3/24/2015 0.0349
4/21/2015 0.0349
5/26/2015 0.034
6/23/2015 0.035
7/28/2015 0.0341
8/25/2015 0.0351
9/22/2015 0.0351
10/27/2015 0.034
11/24/2015 0.035
12/31/2015 0.0337
1/26/2016 0.0353
2/23/2016 0.035
3/22/2016 0.035
4/26/2016 0.0339
5/24/2016 0.0349
6/21/2016 0.0349
7/26/2016 0.0337
8/23/2016 0.0328
9/27/2016 0.0317
10/25/2016 0.0328
11/22/2016 0.0309
12/30/2016 0.0295
1/24/2017 0.0316
2/21/2017 0.031
3/28/2017 0.0299
4/25/2017 0.0313
5/23/2017 0.0314
6/27/2017 0.0304
7/25/2017 0.0294
8/22/2017 0.0294
9/26/2017 0.0285
10/24/2017 0.0295
11/21/2017 0.0275
12/29/2017 0.026
1/23/2018 0.0281
2/20/2018 0.0265
3/27/2018 0.0257
4/24/2018 0.0264
5/22/2018 0.0264
6/26/2018 0.0255
7/24/2018 0.0263
8/28/2018 0.0254
9/25/2018 0.0233
10/23/2018 0.0234

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 11/09/2018

Date 2013 2014 2015 2016 2017
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

(107.1% of assets as of 10/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 7
Asset Allocation Rochester® High Yield Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 115.2% 100.0% 15.2%
Corporates 0.1% - -
State Rochester® High Yield Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New York 13.4% 15.5% -2.1%
California 12.5% 16.8% -4.3%
Puerto Rico 12.4% 0.3% 12.1%
Texas 8.3% 9.5% -1.2%
Ohio 8.2% 2.4% 5.8%
Illinois 6.9% 4.6% 2.4%
Florida 6.8% 4.4% 2.4%
Alabama 5.0% 0.9% 4.1%
Colorado 3.7% 2.0% 1.7%
Pennsylvania 3.0% 3.9% -0.9%
District of Columbia 2.8% 1.2% 1.6%
Wisconsin 2.7% 1.4% 1.4%
Michigan 2.4% 1.7% 0.7%
New Jersey 2.2% 3.8% -1.5%
Indiana 1.9% 0.9% 1.1%
Arizona 1.6% 1.7% -0.1%
Washington 1.6% 3.2% -1.6%
South Carolina 1.2% 1.0% 0.2%
Maryland 1.1% 2.1% -1.1%
Massachusetts 1.0% 4.0% -2.9%
Credit Rating Allocation Rochester® High Yield Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 11.1% 22.4% -11.3%
AA 27.0% 53.5% -26.5%
A 7.0% 18.0% -11.0%
BBB 11.5% 4.8% 6.7%
BB 4.5% - -
B 7.7% - -
CCC 1.7% - -
CC 9.2% - -
C 0.3% - -
Unrated 35.1% 1.3% 33.8%
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
155
Category
High Yield Muni
Performance Statistics
3Y
5Y
Alpha
4.32
3.12
Beta
1.10
1.22
Information Ratio
1.29
1.10
R-Squared
52.96
55.28
Sharpe Ratio
1.07
1.26
Standard Deviation
5.04
5.03
Sortino Ratio
1.64
2.17
Tracking Error
3.48
3.44
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
3.87%
Standardized Yield
2.97%
Interest Income 12/31/2017
Exposed to AMT
6.91%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
11.76 yrs
6.19 yrs
Current Duration
8.80 yrs
6.50 yrs
Turnover Ratio
34%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
10/23/2018
Per Share ($)
$0.0234
12-Month Distribution ($)
$0.3106
Distribution Sources
  • E
Net Income
66.20%
Net Profit from Sale
0.00%
Other Capital Sources
33.80%
Tools
Documents
  1. 1. 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.
  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. May invest without limit in below-investment-grade (“high yield” or "junk") bonds, which 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 Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. 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.
  3. 3. The net expense ratio is not the result of a fee waiver or expense reimbursement.
  4. 4. 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.
  5. 5. 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.
  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. 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.
  8. 8. 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.
  9. 9. 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.
  10. A. Prior to October 1, 2001, this Fund was a non-diversified municipal bond fund that focused primarily on tax-exempt, investment-grade obligations of the State of Florida and its subdivisions and municipalities.  Therefore, performance before October 1, 2001, is not indicative of performance for any subsequent period.
  11. 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.
  12. 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.
  13. 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.
  14. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  15. 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.
×
Loading...
Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )