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ONJCX

Rochester® New Jersey Municipal Fund

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Overview

The strategy typically seeks investment-grade bonds the income of which is exempt from federal and New Jersey personal income taxes.

Inception Date
August 29, 1995
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683940803
NAV
  • A
(as of 03/21/2019)
$9.55
Total Assets
(as of 02/28/2019)
$249.38 MM
Gross Expense Ratio
(as of 02/28/2019)
1.96%
Net Expense Ratio
(as of 02/28/2019)
1.92%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 02/28/2019
  • E
as of 12/31/2018
  • E

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • E
Cumulative
Annualized
ytd as of 2018-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
13.49% 13.49% 2.64% 4.39% 7.61% 3.81%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2018-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
12.49% 12.49% 2.64% 4.39% 7.61% 3.81%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2019-02-28
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
2.61% 13.41% 3.15% 3.71% 6.58% 3.90%
Bloomberg Barclays Municipal Index
1.30% 4.13% 2.28% 3.44% 4.55% -
Cumulative
Annualized
ytd as of 2019-02-28
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (with sales charge)
1.61% 12.41% 3.15% 3.71% 6.58% 3.90%
Bloomberg Barclays Municipal Index
1.30% 4.13% 2.28% 3.44% 4.55% -
Gross Expense Ratio: 1.96% | Net Expense Ratio: 1.92%

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® New Jersey Municipal Fund Bloomberg Barclays Municipal Index
1996 4.56% 4.43%
1997 8.75% 9.19%
1998 5.49% 6.48%
1999 -8.53% -2.06%
2000 8.45% 11.68%
2001 3.30% 5.13%
2002 8.61% 9.60%
2003 6.40% 5.31%
2004 7.71% 4.48%
2005 9.25% 3.51%
2006 6.93% 4.84%
2007 -5.45% 3.36%
2008 -34.68% -2.47%
2009 48.71% 12.91%
2010 2.93% 2.38%
2011 11.42% 10.70%
2012 10.44% 6.78%
2013 -10.78% -2.55%
2014 15.36% 9.05%
2015 -0.62% 3.30%
2016 2.55% 0.25%
2017 -7.09% 5.45%
2018 13.49% 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® New Jersey Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
2/28/2009 0.00 0.00 0.00
3/31/2009 -1.72 0.02 1.39
4/30/2009 5.16 2.02 1.88
5/31/2009 14.11 3.10 2.61
6/30/2009 11.98 2.13 3.20
7/31/2009 15.11 3.84 4.86
8/31/2009 24.71 5.61 5.95
9/30/2009 37.56 9.40 7.06
10/31/2009 33.04 7.11 7.59
11/30/2009 30.55 7.99 8.98
12/31/2009 32.58 8.36 7.28
1/31/2010 35.97 8.92 8.92
2/28/2010 36.92 9.98 9.32
3/31/2010 39.69 9.71 9.19
4/30/2010 42.70 11.05 10.33
5/31/2010 42.01 11.88 11.25
6/30/2010 40.89 11.95 13.00
7/31/2010 43.40 13.34 14.21
8/31/2010 47.57 15.94 15.67
9/30/2010 48.59 15.76 15.80
10/31/2010 50.11 15.44 16.21
11/30/2010 42.68 13.13 15.54
12/31/2010 37.51 10.93 14.30
1/31/2011 33.05 10.12 14.43
2/28/2011 36.13 11.87 14.72
3/31/2011 36.02 11.50 14.78
4/30/2011 38.21 13.50 16.24
5/31/2011 41.85 15.44 17.75
6/30/2011 44.72 15.84 17.41
7/31/2011 46.94 17.02 19.27
8/31/2011 47.31 19.02 21.01
9/30/2011 52.74 20.25 21.89
10/31/2011 52.35 19.80 22.03
11/30/2011 50.53 20.51 21.92
12/31/2011 54.39 22.81 23.26
1/31/2012 60.35 25.64 24.34
2/29/2012 62.22 25.77 24.31
3/31/2012 62.64 24.95 23.63
4/30/2012 65.00 26.39 25.00
5/31/2012 67.23 27.44 26.13
6/30/2012 67.46 27.31 26.18
7/31/2012 70.75 29.32 27.92
8/31/2012 71.34 29.47 28.01
9/30/2012 71.09 30.25 28.18
10/31/2012 71.87 30.62 28.44
11/30/2012 75.14 32.77 28.64
12/31/2012 71.83 31.13 28.45
1/31/2013 73.90 31.68 27.56
2/28/2013 74.56 32.08 28.20
3/31/2013 73.08 31.51 28.30
4/30/2013 75.29 32.95 29.60
5/31/2013 74.33 31.32 27.28
6/30/2013 66.24 27.61 25.32
7/31/2013 61.47 26.49 25.49
8/31/2013 53.27 24.69 24.84
9/30/2013 56.36 27.37 26.03
10/31/2013 58.32 28.37 27.05
11/30/2013 56.92 28.11 26.57
12/31/2013 54.47 27.78 25.86
1/31/2014 58.95 30.27 27.71
2/28/2014 64.02 31.80 28.39
3/31/2014 68.79 32.02 28.17
4/30/2014 70.43 33.61 29.26
5/31/2014 75.00 35.33 30.73
6/30/2014 72.43 35.45 30.80
7/31/2014 71.82 35.68 30.47
8/31/2014 77.17 37.33 31.91
9/30/2014 77.74 37.47 31.01
10/31/2014 77.42 38.41 32.30
11/30/2014 78.34 38.65 33.24
12/31/2014 79.55 39.35 33.36
1/31/2015 82.65 41.82 36.16
2/28/2015 81.03 40.36 34.88
3/31/2015 80.00 40.76 35.51
4/30/2015 78.91 40.02 35.02
5/31/2015 80.54 39.64 34.69
6/30/2015 75.36 39.51 33.23
7/31/2015 74.62 40.52 34.15
8/31/2015 74.67 40.79 33.96
9/30/2015 77.14 41.81 34.87
10/31/2015 78.25 42.38 34.89
11/30/2015 78.79 42.94 34.53
12/31/2015 79.79 43.95 34.10
1/31/2016 80.48 45.67 35.94
2/29/2016 81.83 45.90 36.91
3/31/2016 82.42 46.36 38.16
4/30/2016 83.08 47.43 38.69
5/31/2016 84.68 47.83 38.73
6/30/2016 90.11 50.18 41.22
7/31/2016 90.78 50.28 42.11
8/31/2016 91.31 50.48 41.95
9/30/2016 91.72 49.73 41.87
10/31/2016 90.70 48.16 40.78
11/30/2016 85.82 42.63 37.45
12/31/2016 85.76 44.31 37.65
1/31/2017 87.01 45.26 37.92
2/28/2017 89.07 46.27 38.84
3/31/2017 86.06 46.58 38.77
4/30/2017 86.98 47.65 39.84
5/31/2017 85.66 49.99 40.92
6/30/2017 85.01 49.45 40.78
7/31/2017 85.03 50.66 41.38
8/31/2017 86.24 51.81 42.65
9/30/2017 82.18 51.04 41.97
10/31/2017 75.77 51.40 42.05
11/30/2017 73.17 50.59 41.87
12/31/2017 73.77 52.17 42.52
1/31/2018 75.46 50.38 40.88
2/28/2018 78.62 49.93 39.55
3/31/2018 83.63 50.48 40.44
4/30/2018 86.20 49.94 39.40
5/31/2018 89.19 51.66 40.39
6/30/2018 93.59 51.79 40.22
7/31/2018 94.69 52.16 40.25
8/31/2018 98.91 52.55 41.15
9/30/2018 98.54 51.56 40.24
10/31/2018 96.88 50.63 39.14
11/30/2018 97.26 52.30 39.97
12/31/2018 98.31 54.12 42.54
1/31/2019 99.82 55.28 44.05
2/28/2019 103.94 56.12 43.97
Date Dividends
3/24/2009 0.0414
4/21/2009 0.0414
5/26/2009 0.0408
6/23/2009 0.0418
7/28/2009 0.0403
8/25/2009 0.0418
9/22/2009 0.0414
10/27/2009 0.0396
11/24/2009 0.0412
12/30/2009 0.0395
1/26/2010 0.0435
2/23/2010 0.0431
3/23/2010 0.0432
4/27/2010 0.0416
5/25/2010 0.043
6/22/2010 0.0431
7/27/2010 0.0437
8/24/2010 0.045
9/21/2010 0.0449
10/26/2010 0.0434
11/23/2010 0.045
12/30/2010 0.0433
1/25/2011 0.0462
2/22/2011 0.0456
3/22/2011 0.0455
4/26/2011 0.0452
5/24/2011 0.0465
6/21/2011 0.0464
7/26/2011 0.0449
8/23/2011 0.0462
9/27/2011 0.0448
10/25/2011 0.0462
11/22/2011 0.0461
12/29/2011 0.0439
1/24/2012 0.0469
2/21/2012 0.046
3/27/2012 0.0415
4/24/2012 0.0429
5/22/2012 0.0428
6/26/2012 0.0413
7/24/2012 0.0399
8/28/2012 0.0383
9/25/2012 0.0398
10/23/2012 0.0397
11/27/2012 0.0382
12/28/2012 0.0355
1/22/2013 0.0381
2/19/2013 0.0368
3/26/2013 0.0353
4/23/2013 0.0369
5/28/2013 0.0352
6/25/2013 0.0369
7/23/2013 0.0372
8/27/2013 0.036
9/24/2013 0.0377
10/22/2013 0.0376
11/26/2013 0.0362
12/30/2013 0.0363
1/28/2014 0.0376
2/25/2014 0.0377
3/25/2014 0.0375
4/22/2014 0.0374
5/27/2014 0.0359
6/24/2014 0.0373
7/22/2014 0.0377
8/26/2014 0.036
9/23/2014 0.0372
10/28/2014 0.0358
11/25/2014 0.0373
12/31/2014 0.0357
1/27/2015 0.0374
2/24/2015 0.0352
3/24/2015 0.0353
4/21/2015 0.0353
5/26/2015 0.034
6/23/2015 0.0354
7/28/2015 0.0342
8/25/2015 0.0356
9/22/2015 0.0356
10/27/2015 0.0342
11/24/2015 0.0336
12/31/2015 0.0318
1/26/2016 0.034
2/23/2016 0.0336
3/22/2016 0.0336
4/26/2016 0.0322
5/24/2016 0.0326
6/21/2016 0.0325
7/26/2016 0.031
8/23/2016 0.0294
9/27/2016 0.028
10/25/2016 0.0294
11/22/2016 0.0295
12/30/2016 0.0265
1/24/2017 0.0294
2/21/2017 0.0286
3/28/2017 0.0273
4/25/2017 0.0283
5/23/2017 0.0284
6/27/2017 0.0272
7/25/2017 0.0234
8/22/2017 0.0235
9/26/2017 0.0203
10/24/2017 0.0216
11/21/2017 0.0217
12/29/2017 0.018
1/23/2018 0.0205
2/20/2018 0.0197
3/27/2018 0.0156
4/24/2018 0.0166
5/22/2018 0.0165
6/26/2018 0.0153
7/24/2018 0.0164
8/28/2018 0.0151
9/25/2018 0.0163
10/23/2018 0.0163
11/27/2018 0.0152
12/31/2018 0.0153
1/22/2019 0.0193
2/19/2019 0.0183

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 03/21/2019

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

(107.3% of assets as of 02/28/2019)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 109.3% 100.0% 9.3%
State Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New Jersey 80.4% 3.8% 76.7%
Puerto Rico 19.9% 0.3% 19.6%
Multistate Authority 7.1% 0.1% 7.1%
Northern Marianas 0.7% - -
Virgin Islands 0.5% 0.0% 0.5%
New York 0.4% 15.5% -15.1%
Guam 0.2% 0.1% 0.1%
Credit Rating Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 0.7% 19.4% -18.8%
AA 15.5% 56.3% -40.8%
A 25.5% 18.2% 7.2%
BBB 35.6% 4.8% 30.8%
BB 9.4% 0.0% 9.4%
B 0.7% - -
CCC 0.1% - -
CC 2.0% - -
C 0.8% - -
Unrated 18.9% 1.1% 17.8%
Analytics
(As of 02/28/2019)

Morningstar 02/28/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
48
Category
Muni New Jersey
Performance Statistics
3Y
5Y
Alpha
1.37
1.11
Beta
0.58
0.71
Information Ratio
0.18
0.06
R-Squared
15.80
19.46
Sharpe Ratio
0.41
0.63
Standard Deviation
4.93
4.79
Sortino Ratio
0.60
0.98
Tracking Error
4.70
4.37
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
2.33%
Standardized Yield
1.55%
Unsubsidized Yield
1.54%
Taxable Equivalent Yield
2.89%
Interest Income 12/31/2018
Exposed to AMT
17.86%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
6.90 yrs
5.99 yrs
Current Duration
5.20 yrs
6.60 yrs
Turnover Ratio
23%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
2/19/2019
Per Share ($)
$0.0183
12-Month Distribution ($)
$0.1961
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
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 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.
  7. 7. 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.
  8. 8. 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.
  9. 9. 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.
  10. 10. 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.
  11. 11.

    Based on the 2018 top federal tax rate of 40.8%, including the 3.8% tax on unearned income under the Patient Protection and Affordable Care Act, as applicable. For illustrative purposes only. Not intended to show any fund’s performance or investor’s results. Results would vary if a different tax rate were used.

  12. 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.
  13. B. 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.
  14. C. "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.
  15. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  16. E. 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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