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Main Street Small Cap Fund®/VA

Overview

The Strategy typically invests in a diversified mix of small-cap U.S. company stocks.

Inception Date
May 1, 1998
Investment Style
Small Cap Core
Fund Index
Russell 2000® Index
CUSIP
683811871
NAV
  • A
(as of 04/19/2018)
$26.31
Total Assets
(as of 03/31/2018)
$1.06 BN
Gross Expense Ratio
(as of 03/29/2018)
0.81%
Net Expense Ratio
(as of 03/29/2018)
0.80%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 03/31/2018
  • B
as of 03/31/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Main Street Small Cap Fund®/VA (NAV)
-0.54% 9.18% 6.94% 11.56% 10.44% 8.44%
Russell 2000® Index
-0.08% 11.79% 8.39% 11.47% 10.24% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Main Street Small Cap Fund®/VA (with sales charge)
-0.54% 9.18% 6.94% 11.56% 10.44% 8.44%
Russell 2000® Index
-0.08% 11.79% 8.39% 11.47% 10.24% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Main Street Small Cap Fund®/VA (NAV)
-0.54% 9.18% 6.94% 11.56% 10.44% 8.44%
Russell 2000® Index
-0.08% 11.79% 8.39% 11.47% 10.24% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Main Street Small Cap Fund®/VA (with sales charge)
-0.54% 9.18% 6.94% 11.56% 10.44% 8.44%
Russell 2000® Index
-0.08% 11.79% 8.39% 11.47% 10.24% -
Gross Expense Ratio: 0.81% | Net Expense Ratio: 0.80%

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Year Main Street Small Cap Fund®/VA Russell 2000® Index
1999 46.56% 24.14%
2000 -18.34% 4.27%
2001 -0.36% 1.22%
2002 -15.75% -17.80%
2003 44.36% 45.51%
2004 19.42% 18.29%
2005 9.92% 8.11%
2006 15.00% 16.17%
2007 -1.21% 1.38%
2008 -37.83% -36.79%
2009 37.20% 34.39%
2010 23.41% 26.71%
2011 -2.21% -2.51%
2012 17.99% 17.88%
2013 41.01% 39.39%
2014 11.93% 4.89%
2015 -5.90% -4.41%
2016 18.05% 21.31%
2017 14.15% 14.65%

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Date Main Street Small Cap Fund®/VA Russell 2000® Index (Linked Index) MSCI World S&P 500
3/31/2008 0.00 0.00 0.00 0.00
4/30/2008 5.02 5.38 5.26 4.87
5/31/2008 10.63 10.39 6.86 6.23
6/30/2008 1.56 1.39 -1.66 -2.73
7/31/2008 2.74 2.09 -4.06 -3.54
8/31/2008 5.48 5.01 -5.41 -2.15
9/30/2008 -4.56 -5.43 -16.66 -10.87
10/31/2008 -24.97 -25.80 -32.46 -25.84
11/30/2008 -35.27 -33.85 -36.83 -31.16
12/31/2008 -30.57 -30.26 -34.81 -30.43
1/31/2009 -38.33 -36.53 -40.52 -36.29
2/28/2009 -46.35 -43.40 -46.61 -43.07
3/31/2009 -40.34 -38.23 -42.58 -38.09
4/30/2009 -25.19 -28.71 -36.14 -32.16
5/31/2009 -21.55 -26.54 -30.35 -28.37
6/30/2009 -21.42 -25.71 -30.67 -28.23
7/31/2009 -15.00 -19.00 -24.80 -22.80
8/31/2009 -13.22 -15.69 -21.69 -20.01
9/30/2009 -8.52 -10.80 -18.57 -17.03
10/31/2009 -13.61 -15.96 -20.02 -18.57
11/30/2009 -10.77 -12.58 -16.75 -13.68
12/31/2009 -4.75 -6.27 -15.26 -12.01
1/31/2010 -8.39 -9.41 -18.76 -15.18
2/28/2010 -4.02 -4.91 -17.62 -12.55
3/31/2010 3.50 2.36 -12.51 -7.28
4/30/2010 7.96 7.21 -12.50 -5.81
5/31/2010 0.37 -0.77 -20.88 -13.33
6/30/2010 -6.02 -7.86 -23.60 -17.87
7/31/2010 -0.63 -1.37 -17.40 -12.12
8/31/2010 -7.48 -7.21 -20.48 -16.08
9/30/2010 3.23 3.40 -13.07 -8.59
10/31/2010 7.36 7.36 -9.83 -5.12
11/30/2010 10.09 10.39 -11.78 -5.10
12/31/2010 17.54 18.76 -5.29 1.24
1/31/2011 18.41 20.35 -3.15 3.64
2/28/2011 22.94 26.23 0.24 7.19
3/31/2011 25.72 29.09 -0.75 7.23
4/30/2011 29.81 32.82 3.47 10.41
5/31/2011 28.33 31.23 1.32 9.16
6/30/2011 26.52 28.34 -0.28 7.34
7/31/2011 20.97 23.45 -2.09 5.16
8/31/2011 11.19 13.35 -8.99 -0.56
9/30/2011 -0.25 1.10 -16.85 -7.55
10/31/2011 15.48 15.92 -8.25 2.56
11/30/2011 14.94 15.52 -10.49 2.33
12/31/2011 14.94 15.78 -10.54 3.38
1/31/2012 23.58 23.48 -6.05 8.01
2/29/2012 29.20 28.06 -1.46 12.68
3/31/2012 31.48 30.82 -0.19 16.39
4/30/2012 29.47 29.87 -1.33 15.66
5/31/2012 20.17 20.99 -9.84 8.71
6/30/2012 26.12 25.40 -5.25 13.19
7/31/2012 25.05 24.54 -4.03 14.76
8/31/2012 29.29 29.02 -1.60 17.34
9/30/2012 30.90 32.38 1.11 20.37
10/31/2012 29.09 30.99 0.42 18.15
11/30/2012 31.51 33.00 1.71 18.84
12/31/2012 35.62 36.48 3.62 19.92
1/31/2013 46.46 45.81 8.90 26.13
2/28/2013 49.29 47.49 9.08 27.84
3/31/2013 56.22 54.02 11.63 32.64
4/30/2013 55.82 53.45 15.15 35.19
5/31/2013 61.21 59.58 15.19 38.36
6/30/2013 62.07 58.77 12.35 36.50
7/31/2013 71.22 69.88 18.27 43.44
8/31/2013 68.54 64.48 15.75 39.29
9/30/2013 79.00 74.98 21.54 43.66
10/31/2013 81.75 79.38 26.30 50.26
11/30/2013 86.43 86.56 28.54 54.84
12/31/2013 91.24 90.24 31.26 58.76
1/31/2014 88.77 84.97 26.40 53.27
2/28/2014 97.85 93.68 32.73 60.28
3/31/2014 99.22 92.36 32.92 61.63
4/30/2014 92.27 84.90 34.28 62.82
5/31/2014 93.31 86.39 36.93 66.65
6/30/2014 99.88 96.30 39.37 70.09
7/31/2014 91.50 84.42 37.15 67.74
8/31/2014 102.86 93.56 40.17 74.45
9/30/2014 90.77 81.86 36.37 72.01
10/31/2014 105.85 93.84 37.25 76.21
11/30/2014 109.55 94.02 40.00 80.95
12/31/2014 114.07 99.55 37.74 80.49
1/31/2015 105.52 93.13 35.25 75.07
2/28/2015 118.34 104.59 43.17 85.14
3/31/2015 120.76 108.16 40.93 82.21
4/30/2015 113.99 102.85 44.24 83.96
5/31/2015 119.39 107.48 44.73 86.32
6/30/2015 121.48 109.03 41.37 82.71
7/31/2015 118.36 106.60 43.90 86.54
8/31/2015 105.70 93.62 34.38 75.29
9/30/2015 95.30 84.12 29.43 70.95
10/31/2015 104.94 94.49 39.68 85.37
11/30/2015 111.08 100.82 38.99 85.92
12/31/2015 101.44 90.74 36.54 82.99
1/31/2016 86.52 73.97 28.37 73.91
2/29/2016 87.46 73.96 27.42 73.67
3/31/2016 101.16 87.84 36.07 85.46
4/30/2016 103.43 90.79 38.22 86.18
5/31/2016 108.81 95.09 39.00 89.52
6/30/2016 107.29 94.96 37.44 90.01
7/31/2016 117.37 106.60 43.24 97.02
8/31/2016 117.86 110.26 43.36 97.29
9/30/2016 116.97 112.60 44.13 97.33
10/31/2016 111.34 102.49 41.34 93.73
11/30/2016 130.50 125.07 43.37 100.90
12/31/2016 137.81 131.38 46.80 104.88
1/31/2017 140.57 132.29 50.34 108.76
2/28/2017 146.20 136.78 54.51 117.05
3/31/2017 147.29 137.09 56.16 117.30
4/30/2017 152.13 139.69 58.47 119.54
5/31/2017 146.70 134.81 61.82 122.63
6/30/2017 154.42 142.93 62.45 124.01
7/31/2017 154.74 144.73 66.33 128.62
8/31/2017 151.58 141.62 66.57 129.32
9/30/2017 166.74 156.70 70.31 134.05
10/31/2017 169.05 158.89 73.52 139.51
11/30/2017 171.37 166.35 77.28 146.86
12/31/2017 171.47 165.27 79.68 149.60
1/31/2018 177.26 172.20 89.17 163.89
2/28/2018 162.95 161.66 81.33 154.17
3/29/2018 170.00

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.

$ per share as of 04/19/2018

Date 2013 2014 2015 2016 2017
Short Term 1.9186 0.0990
Long Term 0.2920 2.0665 3.7494 0.8374 1.3571
Total Amount of Distribution 0.2920 3.9851 3.8484 0.8374 1.3571
Record Date 6/17/13 6/16/14 6/15/15 6/20/16 6/19/17
Ex Div Date 6/18/13 6/17/14 6/16/15 6/21/16 6/20/17
Pay Date 6/19/13 6/18/14 6/16/15 6/21/16 6/20/17

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(31.9% of assets as of 03/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
United States 95.7% 99.8% -4.2%
Canada 1.2% 0.0% 1.2%
Bermuda 0.8% 0.1% 0.7%
Belgium 0.4% - -
Developed Markets Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
Americas 97.7% 100.0% -2.3%
Europe 0.4% - -
Equity Sector Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
Information Technology 19.0% 17.5% 1.5%
Industrials 18.7% 15.3% 3.5%
Financials 16.3% 18.0% -1.7%
Health Care 12.1% 16.6% -4.5%
Consumer Discretionary 11.5% 12.1% -0.6%
Real Estate 6.4% 6.3% 0.1%
Materials 4.3% 4.3% 0.0%
Utilities 4.0% 3.3% 0.7%
Consumer Staples 3.0% 2.3% 0.7%
Energy 2.8% 3.7% -0.9%
Industry Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
Banks 10.6% 10.3% 0.3%
Software 6.0% 4.0% 2.0%
Internet Software & Services 6.0% 3.7% 2.3%
Equity Real Estate Investment Trusts (REITs) 5.4% 5.8% -0.4%
Professional Services 4.7% 1.3% 3.4%
Biotechnology 4.3% 6.5% -2.2%
Machinery 4.3% 3.8% 0.4%
Semiconductors & Semiconductor Equipment 3.8% 3.1% 0.7%
Specialty Retail 3.5% 2.2% 1.3%
Health Care Equipment & Supplies 3.3% 4.0% -0.8%
IT Services 3.2% 1.9% 1.3%
Hotels Restaurants & Leisure 3.1% 3.1% 0.0%
Metals & Mining 3.0% 1.2% 1.8%
Health Care Providers & Services 3.0% 2.1% 1.0%
Auto Components 2.8% 1.1% 1.7%
Multi-Utilities 2.8% 0.5% 2.3%
Thrifts & Mortgage Finance 2.8% 2.3% 0.5%
Oil Gas & Consumable Fuels 2.6% 2.3% 0.3%
Commercial Services & Supplies 2.2% 2.5% -0.2%
Construction & Engineering 1.9% 1.2% 0.8%
Asset Allocation Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
Equity 98.1% 100.0% -1.9%
Market Cap Main Street Small Cap Fund®/VA Russell 2000® Index Overweight / Underweight
Small 64.0% 74.2% -10.1%
Mid 34.0% 25.0% 9.0%
Analytics
(As of 03/31/2018)

Morningstar 03/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
83
Category
Small Blend
Performance Statistics
3Y
5Y
Alpha
-0.53
1.24
Beta
0.88
0.89
Information Ratio
-0.45
0.03
R-Squared
95.23
94.15
Sharpe Ratio
0.55
0.91
Standard Deviation
12.57
12.61
Upside Capture
89.82
92.16
Downside Capture
93.82
85.83
Sortino Ratio
0.25
0.44
Win Ratio
47.00
52.00
Loss Ratio
53.00
48.00
Tracking Error
3.19
3.44
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
6/20/2017
Per Share ($)
$0.2211
12-Month Distribution ($)
$0.2211
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$2.80 B
$2.50 B
Median Market Cap (weighted)
$2.70 B
$2.10 B
P/E Ratio (LTM)
26.12
28.65
P/E Ratio (NTM)
18.31
19.53
Price/Book
2.25
2.41
Debt to Capital Ratio
39.66
37.21
Turnover Ratio
42.00%
-
Distribution Sources
  • D
Net Income
7.40%
Net Profit from Sale
44.00%
Other Capital Sources
48.60%
Team
Documents
  1. 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. Diversification does not guarantee profit or protect against loss.
  2. 2. 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.
  3. 3. Access index definitions.
  4. 4. 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.
  5. 5. 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.
  6. 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.
  7. 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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.
  8. 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.
  9. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  10. The funds invest in below-investment-grade debt securities, which may entail greater credit risks, as described in each fund’s prospectus. These securities (sometimes called “junk bonds”) may be subject to greater price fluctuations and risks of loss of income and principal than investment-grade municipal securities. The funds 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. The funds may also invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Deterioration of the Puerto Rican economy could have an adverse impact on Puerto Rican bonds and the performance of the Rochester municipal funds that hold them.The views represented herein are the opinions of the Portfolio Managers at Macquarie Capital Investment Management LLC and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the date indicated, and are subject to change based on subsequent developments.Funds returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Funds. The alternate weighting approach employed by the Funds (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Funds are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performanceOn April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.On April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.

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