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ONJYX

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
November 29, 2010
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
683940878
NAV
  • A
(as of 12/18/2018)
$9.25
Total Assets
(as of 11/30/2018)
$249.17 MM
Gross Expense Ratio
(as of 11/30/2018)
1.06%
Net Expense Ratio
(as of 11/30/2018)
1.02%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 11/30/2018
  • F
as of 09/30/2018
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
14.44% 9.22% 4.07% 5.07% - 4.52%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% -
Cumulative
Annualized
ytd as of 2018-11-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® New Jersey Municipal Fund (NAV)
13.75% 14.16% 3.53% 4.86% - 4.34%
Bloomberg Barclays Municipal Index
0.08% 1.13% 2.13% 3.52% 4.88% -
Gross Expense Ratio: 1.06% | Net Expense Ratio: 1.02%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class Y shares are not subject to a 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
2011 12.51% 10.70%
2012 11.43% 6.78%
2013 -9.96% -2.55%
2014 16.39% 9.05%
2015 0.28% 3.30%
2016 3.47% 0.25%
2017 -6.25% 5.45%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class Y shares are not subject to a 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
11/30/2008 0.00 0.00 0.00
12/31/2008 -7.99 1.46 3.73
1/31/2009 1.27 5.17 2.82
2/28/2009 4.16 5.72 2.43
3/31/2009 2.26 5.74 3.85
4/30/2009 9.41 7.86 4.35
5/31/2009 18.73 9.00 5.10
6/30/2009 16.51 7.98 5.70
7/31/2009 19.77 9.78 7.41
8/31/2009 29.76 11.66 8.52
9/30/2009 43.13 15.67 9.66
10/31/2009 38.42 13.24 10.20
11/30/2009 35.84 14.17 11.63
12/31/2009 37.95 14.56 9.88
1/31/2010 41.47 15.16 11.56
2/28/2010 42.46 16.27 11.98
3/31/2010 45.35 15.99 11.84
4/30/2010 48.47 17.40 13.01
5/31/2010 47.75 18.28 13.96
6/30/2010 46.59 18.35 15.74
7/31/2010 49.21 19.83 16.98
8/31/2010 53.54 22.57 18.48
9/30/2010 54.60 22.38 18.61
10/31/2010 56.18 22.04 19.03
11/30/2010 48.45 19.60 18.35
12/31/2010 43.07 17.28 17.07
1/31/2011 38.43 16.42 17.21
2/28/2011 41.63 18.27 17.50
3/31/2011 41.53 17.88 17.57
4/30/2011 43.80 19.99 19.06
5/31/2011 47.59 22.04 20.61
6/30/2011 50.58 22.47 20.26
7/31/2011 52.88 23.72 22.17
8/31/2011 53.27 25.83 23.95
9/30/2011 58.92 27.14 24.85
10/31/2011 58.51 26.66 24.99
11/30/2011 56.62 27.41 24.88
12/31/2011 60.64 29.83 26.25
1/31/2012 66.84 32.84 27.36
2/29/2012 68.78 32.97 27.33
3/31/2012 69.22 32.10 26.63
4/30/2012 71.68 33.63 28.04
5/31/2012 74.00 34.74 29.20
6/30/2012 74.24 34.59 29.25
7/31/2012 77.66 36.73 31.03
8/31/2012 78.27 36.88 31.11
9/30/2012 78.01 37.71 31.29
10/31/2012 78.82 38.10 31.55
11/30/2012 82.23 40.37 31.76
12/31/2012 78.79 38.64 31.57
1/31/2013 80.94 39.21 30.65
2/28/2013 81.63 39.64 31.31
3/31/2013 80.08 39.03 31.41
4/30/2013 82.39 40.56 32.74
5/31/2013 81.38 38.84 30.37
6/30/2013 72.97 34.91 28.36
7/31/2013 68.00 33.73 28.53
8/31/2013 59.47 31.82 27.88
9/30/2013 62.68 34.66 29.09
10/31/2013 64.73 35.72 30.13
11/30/2013 63.27 35.44 29.64
12/31/2013 60.72 35.10 28.91
1/31/2014 65.38 37.73 30.81
2/28/2014 70.66 39.34 31.51
3/31/2014 75.62 39.58 31.29
4/30/2014 77.32 41.26 32.39
5/31/2014 82.08 43.07 33.90
6/30/2014 79.41 43.20 33.97
7/31/2014 78.77 43.45 33.63
8/31/2014 84.34 45.19 35.11
9/30/2014 84.93 45.34 34.19
10/31/2014 84.60 46.33 35.51
11/30/2014 85.56 46.59 36.47
12/31/2014 86.82 47.32 36.60
1/31/2015 90.04 49.94 39.47
2/28/2015 88.35 48.39 38.15
3/31/2015 87.28 48.82 38.80
4/30/2015 86.15 48.04 38.30
5/31/2015 87.84 47.63 37.96
6/30/2015 82.46 47.49 36.46
7/31/2015 81.69 48.56 37.41
8/31/2015 81.74 48.85 37.21
9/30/2015 84.31 49.93 38.14
10/31/2015 85.46 50.53 38.16
11/30/2015 86.02 51.13 37.80
12/31/2015 87.06 52.19 37.35
1/31/2016 87.78 54.00 39.24
2/29/2016 89.18 54.25 40.23
3/31/2016 89.80 54.73 41.52
4/30/2016 90.49 55.87 42.06
5/31/2016 92.15 56.29 42.10
6/30/2016 97.80 58.78 44.65
7/31/2016 98.50 58.88 45.56
8/31/2016 99.05 59.09 45.40
9/30/2016 99.48 58.30 45.31
10/31/2016 98.42 56.64 44.20
11/30/2016 93.34 50.80 40.79
12/31/2016 93.28 52.57 40.99
1/31/2017 94.58 53.57 41.26
2/28/2017 96.72 54.64 42.21
3/31/2017 93.59 54.97 42.14
4/30/2017 94.54 56.10 43.24
5/31/2017 93.17 58.58 44.34
6/30/2017 92.50 58.01 44.19
7/31/2017 92.52 59.29 44.81
8/31/2017 93.77 60.50 46.11
9/30/2017 89.55 59.68 45.42
10/31/2017 82.88 60.07 45.50
11/30/2017 80.18 59.21 45.31
12/31/2017 80.80 60.88 45.98
1/31/2018 82.55 58.98 44.30
2/28/2018 85.85 58.51 42.93
3/31/2018 91.06 59.09 43.85
4/30/2018 93.73 58.53 42.78
5/31/2018 96.84 60.34 43.80
6/30/2018 101.42 60.48 43.62
7/31/2018 102.57 60.87 43.66
8/31/2018 106.96 61.28 44.58
9/30/2018 106.57 60.24 43.65
10/31/2018 104.84 59.25 42.51
11/30/2018 105.24 61.01 43.36
Date Dividends
12/30/2013 0.0442
1/28/2014 0.0439
2/25/2014 0.0441
3/25/2014 0.0441
4/22/2014 0.0441
5/27/2014 0.0444
6/24/2014 0.0441
7/22/2014 0.044
8/26/2014 0.0444
9/23/2014 0.0441
10/28/2014 0.0444
11/25/2014 0.0441
12/31/2014 0.0444
1/27/2015 0.0441
2/24/2015 0.0421
3/24/2015 0.0421
4/21/2015 0.0421
5/26/2015 0.0424
6/23/2015 0.0421
7/28/2015 0.0423
8/25/2015 0.042
9/22/2015 0.0421
10/27/2015 0.0424
11/24/2015 0.0401
12/31/2015 0.0404
1/26/2016 0.04
2/23/2016 0.0401
3/22/2016 0.0401
4/26/2016 0.0403
5/24/2016 0.0391
6/21/2016 0.0391
7/26/2016 0.0393
8/23/2016 0.0361
9/27/2016 0.0364
10/25/2016 0.0361
11/22/2016 0.0361
12/30/2016 0.0354
1/24/2017 0.0347
2/21/2017 0.0349
3/28/2017 0.0353
4/25/2017 0.0347
5/23/2017 0.0347
6/27/2017 0.0351
7/25/2017 0.0297
8/22/2017 0.0297
9/26/2017 0.0281
10/24/2017 0.0276
11/21/2017 0.0276
12/29/2017 0.0262
1/23/2018 0.0252
2/20/2018 0.0255
3/27/2018 0.0229
4/24/2018 0.0226
5/22/2018 0.0226
6/26/2018 0.023
7/24/2018 0.0226
8/28/2018 0.0231
9/25/2018 0.0227
10/23/2018 0.0227
11/27/2018 0.0231

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 investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 12/18/2018

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

(109.3% of assets as of 11/30/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 112.6% 100.0% 12.6%
State Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New Jersey 82.5% 3.8% 78.8%
Puerto Rico 21.0% 0.3% 20.7%
Multistate Authority 7.2% 0.1% 7.2%
Northern Marianas 0.8% - -
Virgin Islands 0.5% 0.0% 0.5%
New York 0.4% 15.5% -15.1%
Guam 0.2% 0.2% 0.0%
Credit Rating Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 0.7% 19.4% -18.7%
AA 22.4% 56.4% -34.0%
A 26.7% 18.1% 8.5%
BBB 37.6% 4.8% 32.8%
BB 10.7% - -
B 0.8% - -
CCC 0.1% - -
CC 7.5% - -
C 1.3% - -
Unrated 4.8% 1.2% 3.6%
Analytics
(As of 11/30/2018)

Morningstar 11/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
48
Category
Muni New Jersey
Performance Statistics
3Y
5Y
Alpha
1.92
1.91
Beta
0.57
0.82
Information Ratio
0.30
0.30
R-Squared
15.92
24.56
Sharpe Ratio
0.54
0.84
Standard Deviation
4.81
5.07
Sortino Ratio
0.79
1.40
Tracking Error
4.62
4.44
Yields
Dividend Yield (w/o sales charge)
3.01%
Standardized Yield
1.14%
Taxable Equivalent Yield
2.13%
Interest Income 12/31/2017
Exposed to AMT
15.59%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
7.34 yrs
6.27 yrs
Current Duration
5.60 yrs
6.50 yrs
Turnover Ratio
23%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
11/27/2018
Per Share ($)
$0.0231
12-Month Distribution ($)
$0.2824
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. 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.
  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.
  17. F. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
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