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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 01/22/2019)
$9.29
Total Assets
(as of 12/31/2018)
$246.02 MM
Gross Expense Ratio
(as of 12/31/2018)
1.96%
Net Expense Ratio
(as of 12/31/2018)
1.92%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • 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 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% -
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
12/31/2008 0.00 0.00 0.00
1/31/2009 10.05 3.66 -0.88
2/28/2009 13.20 4.21 -1.26
3/31/2009 11.13 4.22 0.12
4/30/2009 18.91 6.31 0.59
5/31/2009 29.03 7.43 1.32
6/30/2009 26.62 6.43 1.90
7/31/2009 30.17 8.21 3.54
8/31/2009 41.02 10.06 4.62
9/30/2009 55.55 14.00 5.72
10/31/2009 50.44 11.61 6.24
11/30/2009 47.63 12.53 7.61
12/31/2009 49.92 12.91 5.93
1/31/2010 53.75 13.50 7.55
2/28/2010 54.82 14.60 7.95
3/31/2010 57.96 14.33 7.82
4/30/2010 61.36 15.72 8.94
5/31/2010 60.58 16.59 9.86
6/30/2010 59.32 16.65 11.58
7/31/2010 62.16 18.11 12.77
8/31/2010 66.87 20.81 14.22
9/30/2010 68.02 20.62 14.34
10/31/2010 69.74 20.29 14.75
11/30/2010 61.34 17.89 14.09
12/31/2010 55.49 15.60 12.86
1/31/2011 50.45 14.75 12.99
2/28/2011 53.93 16.58 13.27
3/31/2011 53.81 16.19 13.34
4/30/2011 56.28 18.27 14.78
5/31/2011 60.40 20.29 16.27
6/30/2011 63.65 20.71 15.93
7/31/2011 66.15 21.94 17.77
8/31/2011 66.57 24.03 19.49
9/30/2011 72.72 25.31 20.36
10/31/2011 72.27 24.84 20.49
11/30/2011 70.21 25.58 20.39
12/31/2011 74.58 27.97 21.71
1/31/2012 81.32 30.93 22.78
2/29/2012 83.44 31.06 22.75
3/31/2012 83.91 30.21 22.08
4/30/2012 86.58 31.71 23.43
5/31/2012 89.10 32.80 24.55
6/30/2012 89.36 32.66 24.60
7/31/2012 93.08 34.76 26.32
8/31/2012 93.75 34.92 26.40
9/30/2012 93.47 35.73 26.57
10/31/2012 94.35 36.11 26.82
11/30/2012 98.04 38.36 27.02
12/31/2012 94.31 36.65 26.84
1/31/2013 96.64 37.22 25.95
2/28/2013 97.39 37.63 26.58
3/31/2013 95.71 37.04 26.69
4/30/2013 98.22 38.54 27.97
5/31/2013 97.13 36.85 25.68
6/30/2013 87.98 32.97 23.74
7/31/2013 82.59 31.81 23.91
8/31/2013 73.31 29.93 23.28
9/30/2013 76.80 32.72 24.44
10/31/2013 79.02 33.77 25.45
11/30/2013 77.44 33.50 24.98
12/31/2013 74.67 33.16 24.27
1/31/2014 79.74 35.75 26.11
2/28/2014 85.47 37.34 26.78
3/31/2014 90.86 37.57 26.56
4/30/2014 92.71 39.23 27.63
5/31/2014 97.88 41.02 29.08
6/30/2014 94.98 41.14 29.15
7/31/2014 94.29 41.39 28.83
8/31/2014 100.34 43.10 30.25
9/30/2014 100.99 43.25 29.37
10/31/2014 100.62 44.23 30.64
11/30/2014 101.67 44.48 31.56
12/31/2014 103.03 45.21 31.69
1/31/2015 106.53 47.78 34.45
2/28/2015 104.70 46.26 33.18
3/31/2015 103.54 46.68 33.80
4/30/2015 102.31 45.91 33.32
5/31/2015 104.15 45.51 33.00
6/30/2015 98.30 45.37 31.55
7/31/2015 97.46 46.43 32.47
8/31/2015 97.52 46.72 32.28
9/30/2015 100.31 47.78 33.17
10/31/2015 101.56 48.37 33.19
11/30/2015 102.17 48.96 32.84
12/31/2015 103.30 50.00 32.41
1/31/2016 104.08 51.79 34.23
2/29/2016 105.60 52.03 35.19
3/31/2016 106.27 52.51 36.43
4/30/2016 107.03 53.63 36.95
5/31/2016 108.83 54.05 36.98
6/30/2016 114.97 56.50 39.45
7/31/2016 115.73 56.60 40.33
8/31/2016 116.33 56.81 40.17
9/30/2016 116.79 56.02 40.09
10/31/2016 115.64 54.39 39.01
11/30/2016 110.12 48.63 35.73
12/31/2016 110.06 50.37 35.92
1/31/2017 111.47 51.37 36.18
2/28/2017 113.80 52.42 37.10
3/31/2017 110.39 52.75 37.03
4/30/2017 111.43 53.86 38.08
5/31/2017 109.94 56.30 39.15
6/30/2017 109.21 55.74 39.01
7/31/2017 109.23 57.00 39.61
8/31/2017 110.59 58.19 40.86
9/30/2017 106.01 57.39 40.19
10/31/2017 98.75 57.77 40.27
11/30/2017 95.82 56.93 40.09
12/31/2017 96.49 58.57 40.73
1/31/2018 98.40 56.70 39.11
2/28/2018 101.98 56.23 37.79
3/31/2018 107.64 56.81 38.68
4/30/2018 110.55 56.25 37.64
5/31/2018 113.93 58.04 38.63
6/30/2018 118.90 58.17 38.46
7/31/2018 120.15 58.56 38.49
8/31/2018 124.92 58.96 39.38
9/30/2018 124.50 57.94 38.48
10/31/2018 122.62 56.96 37.39
11/30/2018 123.06 58.70 38.21
12/31/2018 124.25 60.60 40.75
Date Dividends
1/27/2009 0.0418
2/24/2009 0.0414
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

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

(108.7% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 111.6% 100.0% 11.6%
State Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
New Jersey 81.5% 3.8% 77.7%
Puerto Rico 21.1% 0.3% 20.8%
Multistate Authority 7.2% 0.1% 7.1%
Northern Marianas 0.8% - -
Virgin Islands 0.5% 0.0% 0.5%
New York 0.4% 15.4% -15.0%
Guam 0.2% 0.2% 0.0%
Credit Rating Allocation Rochester® New Jersey Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 0.7% 19.5% -18.8%
AA 14.9% 56.3% -41.4%
A 26.0% 18.1% 7.9%
BBB 38.0% 4.9% 33.1%
BB 10.4% 0.1% 10.4%
B 0.8% - -
CCC 0.1% - -
CC 7.4% - -
C 1.3% - -
Unrated 12.0% 1.2% 10.9%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
48
Category
Muni New Jersey
Performance Statistics
3Y
5Y
Alpha
0.95
1.26
Beta
0.55
0.80
Information Ratio
0.07
0.13
R-Squared
15.37
24.10
Sharpe Ratio
0.34
0.75
Standard Deviation
4.83
5.02
Sortino Ratio
0.49
1.23
Tracking Error
4.67
4.42
Yields
Dividend Yield (with sales charge)
0.00%
Dividend Yield (w/o sales charge)
1.98%
Standardized Yield
1.18%
Unsubsidized Yield
1.16%
Taxable Equivalent Yield
2.20%
Interest Income 12/31/2017
Exposed to AMT
15.59%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
7.18 yrs
6.35 yrs
Current Duration
5.60 yrs
6.60 yrs
Turnover Ratio
23%
-
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
1/22/2019
Per Share ($)
$0.0193
12-Month Distribution ($)
$0.1988
Distribution Sources
  • D
Net Income
78.70%
Net Profit from Sale
0.00%
Other Capital Sources
21.30%
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.
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