EESCX
SteelPath Panoramic Fund
Overview
The Strategy typically invests across the upstream, midstream, and downstream sectors of the energy industry as well as other beneficiaries of North America’s energy renaissance.
- Inception Date
- November 18, 2015
- Investment Style
- Small-Mid Cap Growth & Income
- Fund Index
- S&P 500 Energy (Sector) Index
- CUSIP
- 68385Q203
-
NAV
- A
- (as of 04/19/2018)
- $10.31
- Total Assets
- (as of 03/31/2018)
- $18.90 MM
- Gross Expense Ratio
- (as of 03/29/2018)
- 3.26%
- Net Expense Ratio
-
(as of 03/29/2018)
- 2.30%
Performance
Average Annual Returns as of 03/31/2018
Average Annual Returns as of 03/31/2018
Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
- B
|
Cumulative
|
Annualized | ||||
|---|---|---|---|---|---|
| 1 mo | 3 mo |
ytd as of 2018-03-31
|
1 yr | since inception | |
| 0.96% | -7.17% | -7.17% | -12.34% | -2.36% | |
| 1.66% | -5.88% | -5.88% | -0.16% | 2.64% | |
|
Cumulative
|
Annualized | ||||
|---|---|---|---|---|---|
| 1 mo | 3 mo |
ytd as of 2018-03-31
|
1 yr | since inception | |
| -0.04% | -8.10% | -8.10% | -13.22% | -2.36% | |
| 1.66% | -5.88% | -5.88% | -0.16% | 2.64% | |
|
Cumulative
|
Annualized | ||||
|---|---|---|---|---|---|
| 1 mo | 3 mo |
ytd as of 2018-03-31
|
1 yr | since inception | |
| 0.96% | -7.17% | -7.17% | -12.34% | -2.36% | |
| 1.66% | -5.88% | -5.88% | -0.16% | 2.64% | |
|
Cumulative
|
Annualized | ||||
|---|---|---|---|---|---|
| 1 mo | 3 mo |
ytd as of 2018-03-31
|
1 yr | since inception | |
| -0.04% | -8.10% | -8.10% | -13.22% | -2.36% | |
| 1.66% | -5.88% | -5.88% | -0.16% | 2.64% | |
Gross Expense Ratio:
3.26%
| Net Expense Ratio:
2.30%
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.
Calendar Year Returns as of 04/19/2018
| Year | SteelPath Panoramic Fund | S&P 500 Energy (Sector) Index |
|---|---|---|
| 2016 | 26.29% | 27.36% |
| 2017 | -9.43% | -1.01% |
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.
Cumulative Returns & Income Dividends
| Date | SteelPath Panoramic Fund | S&P 500 Energy (Sector) Index |
|---|---|---|
| 3/31/2017 | 0.00 | 0.00 |
| 4/3/2017 | -0.46 | -0.17 |
| 4/4/2017 | 0.37 | 0.54 |
| 4/5/2017 | -1.21 | 0.20 |
| 4/6/2017 | 0.00 | 1.00 |
| 4/7/2017 | -0.28 | 0.61 |
| 4/10/2017 | 0.74 | 1.38 |
| 4/11/2017 | 0.65 | 1.30 |
| 4/12/2017 | -0.65 | 0.96 |
| 4/13/2017 | -2.88 | -0.89 |
| 4/17/2017 | -2.41 | -0.70 |
| 4/18/2017 | -3.25 | -1.56 |
| 4/19/2017 | -5.38 | -2.96 |
| 4/20/2017 | -5.19 | -2.58 |
| 4/21/2017 | -5.57 | -3.00 |
| 4/24/2017 | -5.01 | -2.47 |
| 4/25/2017 | -3.43 | -1.56 |
| 4/26/2017 | -3.99 | -1.95 |
| 4/27/2017 | -5.29 | -3.01 |
| 4/28/2017 | -5.84 | -2.89 |
| 5/1/2017 | -6.22 | -3.11 |
| 5/2/2017 | -6.77 | -3.59 |
| 5/3/2017 | -6.86 | -3.27 |
| 5/4/2017 | -9.46 | -5.10 |
| 5/5/2017 | -7.05 | -3.56 |
| 5/8/2017 | -6.49 | -2.88 |
| 5/9/2017 | -7.51 | -3.71 |
| 5/10/2017 | -5.29 | -2.45 |
| 5/11/2017 | -5.94 | -2.61 |
| 5/12/2017 | -6.12 | -2.92 |
| 5/15/2017 | -5.19 | -2.28 |
| 5/16/2017 | -5.66 | -2.68 |
| 5/17/2017 | -7.33 | -3.62 |
| 5/18/2017 | -7.42 | -3.73 |
| 5/19/2017 | -5.47 | -2.53 |
| 5/22/2017 | -5.94 | -2.70 |
| 5/23/2017 | -5.94 | -2.54 |
| 5/24/2017 | -6.77 | -2.96 |
| 5/25/2017 | -8.81 | -4.70 |
| 5/26/2017 | -8.72 | -4.62 |
| 5/30/2017 | -10.95 | -5.82 |
| 5/31/2017 | -11.60 | -6.19 |
| 6/1/2017 | -10.85 | -5.57 |
| 6/2/2017 | -12.15 | -6.69 |
| 6/5/2017 | -12.34 | -6.52 |
| 6/6/2017 | -11.04 | -5.40 |
| 6/7/2017 | -14.19 | -6.73 |
| 6/8/2017 | -14.66 | -6.99 |
| 6/9/2017 | -12.43 | -4.69 |
| 6/12/2017 | -12.24 | -4.04 |
| 6/13/2017 | -10.76 | -3.40 |
| 6/14/2017 | -13.82 | -5.16 |
| 6/15/2017 | -15.96 | -5.81 |
| 6/16/2017 | -15.03 | -4.19 |
| 6/19/2017 | -15.86 | -4.85 |
| 6/20/2017 | -16.88 | -6.04 |
| 6/21/2017 | -18.83 | -7.54 |
| 6/22/2017 | -18.27 | -7.66 |
| 6/23/2017 | -16.88 | -6.96 |
| 6/26/2017 | -16.51 | -7.18 |
| 6/27/2017 | -16.51 | -7.34 |
| 6/28/2017 | -15.49 | -6.81 |
| 6/29/2017 | -14.66 | -6.70 |
| 6/30/2017 | -14.19 | -6.36 |
| 7/3/2017 | -11.78 | -4.48 |
| 7/5/2017 | -14.38 | -6.40 |
| 7/6/2017 | -15.68 | -7.44 |
| 7/7/2017 | -16.05 | -7.53 |
| 7/10/2017 | -15.40 | -7.28 |
| 7/11/2017 | -14.84 | -6.79 |
| 7/12/2017 | -14.56 | -6.52 |
| 7/13/2017 | -13.82 | -6.10 |
| 7/14/2017 | -12.99 | -5.59 |
| 7/17/2017 | -13.08 | -5.72 |
| 7/18/2017 | -13.82 | -6.18 |
| 7/19/2017 | -11.60 | -4.86 |
| 7/20/2017 | -12.80 | -5.18 |
| 7/21/2017 | -13.73 | -6.02 |
| 7/24/2017 | -13.82 | -6.29 |
| 7/25/2017 | -12.15 | -5.11 |
| 7/26/2017 | -12.06 | -5.02 |
| 7/27/2017 | -11.32 | -4.05 |
| 7/28/2017 | -11.50 | -4.24 |
| 7/31/2017 | -12.06 | -4.02 |
| 8/1/2017 | -12.52 | -3.96 |
| 8/2/2017 | -14.01 | -4.26 |
| 8/3/2017 | -16.60 | -5.52 |
| 8/4/2017 | -15.49 | -5.19 |
| 8/7/2017 | -16.88 | -5.99 |
| 8/8/2017 | -17.44 | -6.10 |
| 8/9/2017 | -16.88 | -5.99 |
| 8/10/2017 | -18.00 | -7.00 |
| 8/11/2017 | -18.18 | -7.64 |
| 8/14/2017 | -18.65 | -7.87 |
| 8/15/2017 | -19.11 | -8.23 |
| 8/16/2017 | -20.04 | -9.08 |
| 8/17/2017 | -20.87 | -10.40 |
| 8/18/2017 | -20.22 | -9.89 |
| 8/21/2017 | -21.06 | -10.39 |
| 8/22/2017 | -20.13 | -9.77 |
| 8/23/2017 | -19.39 | -9.42 |
| 8/24/2017 | -19.30 | -9.44 |
| 8/25/2017 | -18.92 | -8.97 |
| 8/28/2017 | -19.57 | -9.39 |
| 8/29/2017 | -19.57 | -9.49 |
| 8/30/2017 | -19.30 | -9.47 |
| 8/31/2017 | -17.90 | -8.99 |
| 9/1/2017 | -17.16 | -8.19 |
| 9/5/2017 | -17.44 | -7.67 |
| 9/6/2017 | -16.60 | -6.16 |
| 9/7/2017 | -16.98 | -5.98 |
| 9/8/2017 | -18.65 | -6.93 |
| 9/11/2017 | -17.90 | -5.98 |
| 9/12/2017 | -16.88 | -5.49 |
| 9/13/2017 | -15.03 | -4.32 |
| 9/14/2017 | -14.56 | -3.95 |
| 9/15/2017 | -14.38 | -3.69 |
| 9/18/2017 | -13.91 | -3.27 |
| 9/19/2017 | -13.73 | -2.91 |
| 9/20/2017 | -12.43 | -2.24 |
| 9/21/2017 | -12.52 | -2.31 |
| 9/22/2017 | -11.78 | -1.79 |
| 9/25/2017 | -10.02 | -0.34 |
| 9/26/2017 | -9.93 | -0.53 |
| 9/27/2017 | -9.65 | -0.06 |
| 9/28/2017 | -10.02 | 0.09 |
| 9/29/2017 | -10.02 | 0.05 |
| 10/2/2017 | -9.55 | 0.03 |
| 10/3/2017 | -9.55 | -0.05 |
| 10/4/2017 | -9.83 | -0.11 |
| 10/5/2017 | -9.09 | 0.29 |
| 10/6/2017 | -10.20 | -0.53 |
| 10/9/2017 | -10.30 | -0.28 |
| 10/10/2017 | -10.30 | -0.18 |
| 10/11/2017 | -9.93 | 0.06 |
| 10/12/2017 | -10.58 | -0.31 |
| 10/13/2017 | -10.95 | -0.36 |
| 10/16/2017 | -10.95 | -0.14 |
| 10/17/2017 | -11.13 | -0.05 |
| 10/18/2017 | -12.06 | -0.75 |
| 10/19/2017 | -12.62 | -1.06 |
| 10/20/2017 | -12.43 | -0.79 |
| 10/23/2017 | -14.10 | -1.37 |
| 10/24/2017 | -14.29 | -1.10 |
| 10/25/2017 | -15.21 | -1.78 |
| 10/26/2017 | -14.75 | -1.54 |
| 10/27/2017 | -12.89 | -1.34 |
| 10/30/2017 | -12.34 | -0.97 |
| 10/31/2017 | -11.60 | -0.61 |
| 11/1/2017 | -9.74 | 0.47 |
| 11/2/2017 | -11.04 | 0.16 |
| 11/3/2017 | -10.11 | 0.42 |
| 11/6/2017 | -7.14 | 2.63 |
| 11/7/2017 | -7.14 | 2.45 |
| 11/8/2017 | -8.16 | 2.05 |
| 11/9/2017 | -7.79 | 2.34 |
| 11/10/2017 | -7.98 | 1.77 |
| 11/13/2017 | -9.37 | 1.22 |
| 11/14/2017 | -12.15 | -0.34 |
| 11/15/2017 | -12.80 | -1.49 |
| 11/16/2017 | -12.80 | -1.89 |
| 11/17/2017 | -11.69 | -1.47 |
| 11/20/2017 | -12.06 | -1.64 |
| 11/21/2017 | -12.24 | -1.42 |
| 11/22/2017 | -11.50 | -0.99 |
| 11/24/2017 | -11.13 | -0.72 |
| 11/27/2017 | -12.71 | -1.74 |
| 11/28/2017 | -12.43 | -0.93 |
| 11/29/2017 | -12.24 | -0.40 |
| 11/30/2017 | -10.85 | 1.14 |
| 12/1/2017 | -9.74 | 1.94 |
| 12/4/2017 | -10.30 | 1.91 |
| 12/5/2017 | -11.13 | 1.43 |
| 12/6/2017 | -12.99 | 0.13 |
| 12/7/2017 | -12.15 | 0.47 |
| 12/8/2017 | -11.22 | 1.37 |
| 12/11/2017 | -10.11 | 2.09 |
| 12/12/2017 | -10.58 | 1.76 |
| 12/13/2017 | -11.04 | 1.62 |
| 12/14/2017 | -11.32 | 1.30 |
| 12/15/2017 | -11.50 | 1.27 |
| 12/18/2017 | -10.11 | 1.97 |
| 12/19/2017 | -10.02 | 2.08 |
| 12/20/2017 | -8.53 | 3.49 |
| 12/21/2017 | -6.96 | 5.64 |
| 12/22/2017 | -6.49 | 5.87 |
| 12/26/2017 | -5.19 | 6.74 |
| 12/27/2017 | -5.66 | 6.40 |
| 12/28/2017 | -5.19 | 6.50 |
| 12/29/2017 | -5.57 | 6.08 |
| 1/2/2018 | -3.62 | 7.97 |
| 1/3/2018 | -2.41 | 9.62 |
| 1/4/2018 | -1.76 | 10.28 |
| 1/5/2018 | -2.32 | 10.26 |
| 1/8/2018 | -1.86 | 10.90 |
| 1/9/2018 | -1.86 | 10.55 |
| 1/10/2018 | -2.23 | 10.44 |
| 1/11/2018 | 0.00 | 12.67 |
| 1/12/2018 | 0.65 | 13.76 |
| 1/16/2018 | -1.02 | 12.36 |
| 1/17/2018 | -0.74 | 13.32 |
| 1/18/2018 | -1.76 | 12.42 |
| 1/19/2018 | -1.48 | 12.31 |
| 1/22/2018 | 0.56 | 14.67 |
| 1/23/2018 | 0.93 | 14.49 |
| 1/24/2018 | 0.46 | 14.21 |
| 1/25/2018 | -0.93 | 13.33 |
| 1/26/2018 | -0.56 | 14.04 |
| 1/29/2018 | -2.23 | 12.28 |
| 1/30/2018 | -4.82 | 10.03 |
| 1/31/2018 | -5.10 | 10.12 |
| 2/1/2018 | -4.64 | 11.34 |
| 2/2/2018 | -8.07 | 6.74 |
| 2/5/2018 | -10.76 | 2.09 |
| 2/6/2018 | -9.46 | 2.83 |
| 2/7/2018 | -10.85 | 1.12 |
| 2/8/2018 | -14.66 | -1.89 |
| 2/9/2018 | -15.03 | -1.95 |
| 2/12/2018 | -12.80 | -0.31 |
| 2/13/2018 | -13.45 | -0.75 |
| 2/14/2018 | -11.13 | 0.64 |
| 2/15/2018 | -11.32 | 0.38 |
| 2/16/2018 | -11.78 | 0.15 |
| 2/20/2018 | -11.87 | -0.39 |
| 2/21/2018 | -13.36 | -2.04 |
| 2/22/2018 | -11.78 | -0.99 |
| 2/23/2018 | -9.55 | 1.19 |
| 2/26/2018 | -9.55 | 1.85 |
| 2/27/2018 | -10.95 | 0.51 |
| 2/28/2018 | -13.17 | -1.79 |
| 3/1/2018 | -12.89 | -1.95 |
| 3/2/2018 | -12.06 | -1.55 |
| 3/5/2018 | -10.48 | -0.50 |
| 3/6/2018 | -10.76 | -0.45 |
| 3/7/2018 | -11.60 | -1.28 |
| 3/8/2018 | -11.78 | -1.33 |
| 3/9/2018 | -10.02 | 0.59 |
| 3/12/2018 | -9.74 | 0.53 |
| 3/13/2018 | -10.39 | -0.18 |
| 3/14/2018 | -10.95 | -0.82 |
| 3/15/2018 | -12.62 | -1.24 |
| 3/16/2018 | -11.60 | -0.24 |
| 3/19/2018 | -13.73 | -1.92 |
| 3/20/2018 | -13.17 | -1.10 |
| 3/21/2018 | -10.30 | 1.50 |
| 3/22/2018 | -12.15 | -0.57 |
| 3/23/2018 | -12.80 | -1.16 |
| 3/26/2018 | -11.60 | 0.59 |
| 3/27/2018 | -13.27 | -0.29 |
| 3/28/2018 | -14.10 | -2.27 |
| 3/29/2018 | -12.34 | -0.16 |
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.
Capital Gains and Distributions ($ per share) as of 04/19/2018
| 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 Holdings
(20.5% of assets as of 03/31/2018)
Domestic Equity
SteelPath Panoramic Fund
CLASS C: EESCX
Portfolio Holdings Breakdown
as of
03/31/2018
Portfolio Holdings Breakdown
| Equity Sector | SteelPath Panoramic Fund | S&P 500 Energy (Sector) Index | Overweight / Underweight |
|---|---|---|---|
| Exploration & Production | 49.4% | 29.3% | 20.1% |
| Midstream | 13.6% | 5.6% | 8.0% |
| Equipment & Services | 12.8% | 13.7% | -0.8% |
| Chemicals | 9.3% | - | - |
| Transportation & Industrial | 8.9% | - | - |
| Refining | 4.1% | 10.0% | -5.9% |
| Oil & Gas Equipment & Services | 0.8% | - | - |
| Asset Allocation | SteelPath Panoramic Fund | S&P 500 Energy (Sector) Index | Overweight / Underweight |
|---|---|---|---|
| Equity | 99.0% | 100.0% | -1.0% |
| Market Cap | SteelPath Panoramic Fund | S&P 500 Energy (Sector) Index | Overweight / Underweight |
|---|---|---|---|
| Mid | 37.5% | 13.4% | 24.0% |
| Large | 34.5% | 86.6% | -52.1% |
| Small | 27.0% | - | - |
Analytics
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$21.20 B
$139.00 B
Median Market Cap (weighted)
$8.90 B
$69.80 B
P/E Ratio (LTM)
53.79
34.22
P/E Ratio (NTM)
17.57
19.12
Price/Book
1.67
1.82
Return on Equity
5.69%
7.76%
Turnover Ratio
38.00%
-
Active Share
74.73%
-
Insights
Master Limited Partnerships
April 2018 MLP Update and Future of the MLP Structure
We think a broad shift from MLPs to C corps across the category is unlikely.
April 11, 2018
Master Limited Partnerships
U.S. Energy Becoming a Growth Sector at $50-a-Barrel Oil
Growth opportunities exist in the U.S. energy industry, even with oil at $50 a barrel.
August 16, 2017
Master Limited Partnerships
Finding Opportunities in Midstream Energy
Learn why we created our Oppenheimer SteelPath Funds.
August 20, 2015
Master Limited Partnerships
OPEC on Oil Supply: Jawboning or Something More?
We explore possible reasons for OPEC's oil production cut and the impact on future oil markets.
November 25, 2016
Team
Documents
- 1. Special Risks: Small-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The Fund may invest no more than 25% of total assets in MLPs. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
- 2. Access index definitions.
- 3. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
- 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. ↩
- 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 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. ↩
- 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. ↩