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OROYX

Rochester®®®® Ohio Municipal Fund

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Special Notice

Effective as of the close of the New York Stock Exchange on March 24, 2016, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

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Overview

The Strategy typically invests in Ohio municipal bonds.

Inception Date
July 29, 2011
Investment Style
Single-State
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
68383E400
NAV
  • A
(as of 11/16/2017)
$9.45
Total Assets
(as of 10/31/2017)
$55.80 MM
Gross Expense Ratio
(as of 10/31/2017)
1.03%
Net Expense Ratio
(as of 10/31/2017)
1.01%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2017
  • H
as of 09/30/2017
  • H

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr since inception
Rochester® Ohio Municipal Fund (NAV)
-1.06% - -2.15% 3.01% 2.83% 4.64%
Cumulative
Annualized
3 mo ytd as of 2017-10-31
  • C
1 yr 3 yr 5 yr since inception
Rochester® Ohio Municipal Fund (NAV)
-3.14% - -3.62% 2.04% 2.15% 4.17%
Gross Expense Ratio: 1.03% | Net Expense Ratio: 0.91%

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® Ohio Municipal Fund Bloomberg Barclays Municipal Index
2012 13.57% 6.78%
2013 -7.96% -2.55%
2014 14.62% 9.05%
2015 2.89% 3.30%
2016 3.19% 0.25%

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® Ohio Municipal Fund Bloomberg Barclays Municipal Index BBG Barclays Agg
10/31/2007 0.00 0.00 0.00
11/30/2007 -1.76 0.64 1.80
12/31/2007 -2.65 0.92 2.08
1/31/2008 -3.30 2.19 3.80
2/29/2008 -10.24 -2.49 3.94
3/31/2008 -10.27 0.30 4.30
4/30/2008 -8.97 1.47 4.08
5/31/2008 -8.33 2.09 3.32
6/30/2008 -9.62 0.93 3.23
7/31/2008 -10.91 1.32 3.15
8/31/2008 -9.69 2.50 4.13
9/30/2008 -17.81 -2.30 2.73
10/31/2008 -28.61 -3.30 0.30
11/30/2008 -29.40 -2.99 3.57
12/31/2008 -36.14 -1.58 7.43
1/31/2009 -31.97 2.02 6.49
2/28/2009 -30.77 2.56 6.08
3/31/2009 -32.20 2.58 7.56
4/30/2009 -29.03 4.63 8.07
5/31/2009 -22.33 5.73 8.86
6/30/2009 -24.67 4.74 9.48
7/31/2009 -24.46 6.50 11.24
8/31/2009 -18.60 8.32 12.39
9/30/2009 -10.64 12.20 13.57
10/31/2009 -13.07 9.85 14.14
11/30/2009 -13.47 10.76 15.61
12/31/2009 -11.65 11.13 13.80
1/31/2010 -10.63 11.71 15.54
2/28/2010 -9.88 12.79 15.97
3/31/2010 -9.75 12.52 15.83
4/30/2010 -7.58 13.89 17.04
5/31/2010 -7.46 14.74 18.02
6/30/2010 -7.43 14.81 19.87
7/31/2010 -6.34 16.24 21.15
8/31/2010 -3.52 18.90 22.71
9/30/2010 -2.47 18.72 22.84
10/31/2010 -1.84 18.39 23.28
11/30/2010 -5.74 16.02 22.57
12/31/2010 -7.98 13.77 21.25
1/31/2011 -9.74 12.94 21.39
2/28/2011 -7.91 14.73 21.69
3/31/2011 -7.88 14.35 21.76
4/30/2011 -6.55 16.40 23.31
5/31/2011 -4.56 18.39 24.92
6/30/2011 -2.59 18.80 24.55
7/31/2011 -0.86 20.01 26.53
8/31/2011 -0.32 22.07 28.38
9/30/2011 1.45 23.33 29.31
10/31/2011 0.99 22.87 29.45
11/30/2011 -0.10 23.60 29.34
12/31/2011 1.92 25.95 30.76
1/31/2012 5.90 28.86 31.91
2/29/2012 7.02 28.99 31.88
3/31/2012 7.52 28.15 31.15
4/30/2012 9.07 29.63 32.61
5/31/2012 10.54 30.70 33.81
6/30/2012 10.70 30.56 33.86
7/31/2012 13.29 32.63 35.71
8/31/2012 13.77 32.78 35.79
9/30/2012 14.01 33.59 35.98
10/31/2012 15.03 33.96 36.25
11/30/2012 17.36 36.17 36.46
12/31/2012 15.61 34.49 36.27
1/31/2013 16.51 35.05 35.32
2/28/2013 16.70 35.46 35.99
3/31/2013 15.82 34.87 36.10
4/30/2013 17.35 36.35 37.48
5/31/2013 16.81 34.68 35.03
6/30/2013 11.10 30.87 32.94
7/31/2013 8.41 29.73 33.12
8/31/2013 4.16 27.88 32.44
9/30/2013 6.81 30.63 33.69
10/31/2013 8.08 31.66 34.77
11/30/2013 7.83 31.39 34.27
12/31/2013 6.35 31.05 33.51
1/31/2014 10.27 33.61 35.48
2/28/2014 13.35 35.17 36.20
3/31/2014 13.88 35.40 35.97
4/30/2014 15.19 37.03 37.12
5/31/2014 17.83 38.79 38.68
6/30/2014 16.53 38.91 38.75
7/31/2014 16.16 39.16 38.40
8/31/2014 19.53 40.84 39.93
9/30/2014 19.81 40.98 38.98
10/31/2014 20.32 41.95 40.35
11/30/2014 20.94 42.20 41.34
12/31/2014 21.86 42.91 41.48
1/31/2015 24.25 45.45 44.44
2/28/2015 23.25 43.95 43.08
3/31/2015 23.34 44.36 43.75
4/30/2015 22.69 43.61 43.23
5/31/2015 23.19 43.21 42.89
6/30/2015 20.73 43.08 41.33
7/31/2015 21.62 44.11 42.31
8/31/2015 21.10 44.40 42.11
9/30/2015 22.87 45.44 43.07
10/31/2015 24.12 46.02 43.09
11/30/2015 24.28 46.60 42.72
12/31/2015 25.35 47.63 42.25
1/31/2016 25.99 49.39 44.21
2/29/2016 26.94 49.63 45.23
3/31/2016 28.39 50.10 46.57
4/30/2016 29.49 51.21 47.13
5/31/2016 30.34 51.62 47.17
6/30/2016 33.43 54.03 49.81
7/31/2016 33.54 54.12 50.76
8/31/2016 33.83 54.33 50.59
9/30/2016 33.76 53.56 50.50
10/31/2016 32.66 51.95 49.35
11/30/2016 28.13 46.28 45.81
12/31/2016 29.32 48.00 46.02
1/31/2017 30.49 48.97 46.31
2/28/2017 32.04 50.01 47.29
3/31/2017 31.33 50.33 47.21
4/30/2017 32.53 51.42 48.35
5/31/2017 33.06 53.83 49.49
6/30/2017 32.30 53.28 49.34
7/31/2017 32.03 54.52 49.98
8/31/2017 32.39 55.69 51.33
9/30/2017 30.90 54.90 50.61
10/31/2017 27.76 55.28 50.70
Date Dividends
11/27/2012 0.0462
12/28/2012 0.042
1/22/2013 0.0417
2/19/2013 0.0418
3/26/2013 0.0411
4/23/2013 0.0416
5/28/2013 0.042
6/25/2013 0.0416
7/23/2013 0.0419
8/27/2013 0.0427
9/24/2013 0.0431
10/22/2013 0.0422
11/26/2013 0.0428
12/30/2013 0.0423
1/28/2014 0.0423
2/25/2014 0.0445
3/25/2014 0.0445
4/22/2014 0.045
5/27/2014 0.0456
6/24/2014 0.0457
7/22/2014 0.0455
8/26/2014 0.0455
9/23/2014 0.0454
10/28/2014 0.0455
11/25/2014 0.0452
12/31/2014 0.0451
1/27/2015 0.0452
2/24/2015 0.0453
3/24/2015 0.0454
4/21/2015 0.0456
5/26/2015 0.0455
6/23/2015 0.0455
7/28/2015 0.0456
8/25/2015 0.0453
9/22/2015 0.0451
10/27/2015 0.0431
11/24/2015 0.0436
12/31/2015 0.0445
1/26/2016 0.0441
2/23/2016 0.0442
3/22/2016 0.0441
4/26/2016 0.0432
5/24/2016 0.0432
6/21/2016 0.0426
7/26/2016 0.0433
8/23/2016 0.0402
9/27/2016 0.0404
10/25/2016 0.0404
11/22/2016 0.0401
12/30/2016 0.0401
1/24/2017 0.0395
2/21/2017 0.0393
3/28/2017 0.04
4/25/2017 0.038
5/23/2017 0.038
6/27/2017 0.0383
7/25/2017 0.036
8/22/2017 0.036
9/26/2017 0.033
10/24/2017 0.0331

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 11/16/2017

Date 2012 2013 2014 2015 2016
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

(110.9% of assets as of 10/31/2017)


Portfolio Holdings Breakdown

State 7
Credit Rating Allocation 8
Asset Allocation 7
State Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Ohio 95.6% 2.3% 93.3%
Puerto Rico 8.9% 0.5% 8.4%
Guam 1.6% 0.2% 1.4%
Virgin Islands 0.2% 0.0% 0.2%
Credit Rating Allocation Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
AA 43.4% 12.5% 30.9%
Unrated 19.9% 0.2% 19.8%
A 15.5% 2.5% 13.0%
BBB 13.7% 1.2% 12.6%
B 10.3% - -
CC 3.9% - -
AAA 3.2% 2.4% 0.7%
BB 0.9% - -
C 0.5% - -
CCC 0.2% - -
Asset Allocation Rochester® Ohio Municipal Fund Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 111.5% 100.0% 11.5%
Analytics
(As of 10/31/2017)

Morningstar 10/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
41
Category
Muni Ohio
Performance Statistics
3Y
5Y
Alpha
-0.78
-1.58
Beta
0.93
1.30
Information Ratio
-0.39
-0.27
R-Squared
58.52
72.51
Sharpe Ratio
0.43
0.37
Standard Deviation
3.98
5.49
Sortino Ratio
0.17
0.15
Tracking Error
2.59
3.08
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
10/24/2017
Per Share ($)
$0.03
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.45
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
6.59 yrs
5.96 yrs
Current Duration
5.00 yrs
6.70 yrs
Turnover Ratio
5.00%
-
Yields
Dividend Yield (w/o sales charge)
4.21%
Standardized Yield
2.71%
Team
Documents
  1. 1. A portion of the Fund's distributions may be subject to tax and may increase taxes for investors subject to Alternative Minimum Tax (AMT).  Capital gains distributions are taxable as capital gains. Tax treatments of the Fund's distributions and capital gains may vary by state; investors should consult a tax advisor to determine if the Fund is appropriate for them.
  2. 2. As of the close of the New York Stock Exchange on March 24, 2016, the purchase and exchange of Fund shares are restricted, subject to certain exceptions. Please see the prospectus for further information.
  3. 3. Special Risks: 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. 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 represents the Fund's gross expense ratio less certain interest and related expenses from the Fund's investment in inverse floaters, as reported in the latest prospectus. Under accounting rules, the Fund recognized additional income in an amount that offsets those expenses. the Fund's total returns and net asset values are not affected by those offsets.
  5. 5. 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.
  6. 6. Access index definitions.
  7. 7. Holdings are subject to change, and are dollar weighted based on total net 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. Lipper Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds’ historical risk-adjusted returns, measured in local currency, relative to peers. Winners are selected using the Lipper Leader rating for Consistent Return for funds with at least 36 months of performance history as of 11/30/16. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. Other share classes may have different performance and expense characteristics. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper awards are not intended to predict future results. Licensee shall provide a conspicuous credit notice as follows: From Thomson Reuters Lipper Awards, © 2017 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. 
  12. 12. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  13. 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.
  14. 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.
  15. 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.
  16. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  17. E. Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion.
  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 contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B 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.
  19. G. 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.
  20. H. 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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