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OREAX

Real Estate Fund

Overview

The Strategy typically invests in real estate securities, primarily real estate investment trusts (REITs).

Inception Date
March 4, 2002
Investment Style
Real Estate
Fund Index
FTSE NAREIT Equity REITs TR Index
CUSIP
68382F101
NAV
  • A
(as of 05/18/2018)
$22.96
Total Assets
(as of 04/30/2018)
$976.45 MM
Gross Expense Ratio
(as of 04/30/2018)
1.43%
Net Expense Ratio
(as of 04/30/2018)
1.33%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 04/30/2018
  • 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
Real Estate Fund (NAV)
-6.60% -3.36% 0.17% 5.89% 6.00% 9.87%
FTSE NAREIT Equity REITs TR Index
-8.20% -4.51% 1.08% 5.92% 6.37% -
Cumulative
Annualized
ytd as of 2018-03-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (with sales charge)
-11.97% -8.92% -1.79% 4.64% 5.37% 9.47%
FTSE NAREIT Equity REITs TR Index
-8.20% -4.51% 1.08% 5.92% 6.37% -
Cumulative
Annualized
ytd as of 2018-04-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (NAV)
-5.87% -2.77% 2.51% 4.80% 5.48% 9.88%
FTSE NAREIT Equity REITs TR Index
-6.88% -3.26% 3.49% 4.86% 5.92% -
Cumulative
Annualized
ytd as of 2018-04-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Real Estate Fund (with sales charge)
-11.29% -8.36% 0.51% 3.57% 4.86% 9.47%
FTSE NAREIT Equity REITs TR Index
-6.88% -3.26% 3.49% 4.86% 5.92% -
Gross Expense Ratio: 1.43% | Net Expense Ratio: 1.33%

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 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Year Real Estate Fund FTSE NAREIT Equity REITs TR Index
2003 39.73% 37.13%
2004 36.30% 31.58%
2005 14.14% 12.16%
2006 35.52% 35.06%
2007 -14.78% -15.69%
2008 -39.27% -37.73%
2009 29.97% 27.99%
2010 27.18% 27.96%
2011 8.12% 8.29%
2012 15.65% 18.06%
2013 2.84% 2.47%
2014 31.40% 30.14%
2015 2.39% 3.20%
2016 6.07% 8.52%
2017 4.06% 5.23%

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 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Date Real Estate Fund FTSE NAREIT Equity REITs Index BBG Barclays Agg S&P 500
4/30/2008 0.00 0.00 0.00 0.00
5/31/2008 0.10 0.77 -0.73 1.30
6/30/2008 -10.67 -10.19 -0.81 -7.24
7/31/2008 -7.99 -7.07 -0.89 -8.02
8/31/2008 -5.71 -5.02 0.05 -6.69
9/30/2008 -6.23 -5.20 -1.30 -15.01
10/31/2008 -34.97 -35.22 -3.63 -29.28
11/30/2008 -49.54 -50.16 -0.49 -34.36
12/31/2008 -42.62 -41.99 3.22 -33.66
1/31/2009 -52.23 -52.03 2.31 -39.25
2/28/2009 -61.75 -62.02 1.93 -45.72
3/31/2009 -60.86 -60.47 3.34 -40.96
4/30/2009 -47.57 -48.21 3.84 -35.31
5/31/2009 -46.35 -47.10 4.59 -31.69
6/30/2009 -48.48 -49.07 5.18 -31.56
7/31/2009 -43.12 -43.74 6.88 -26.38
8/31/2009 -35.32 -36.21 7.99 -23.72
9/30/2009 -31.58 -32.13 9.12 -20.88
10/31/2009 -34.58 -35.18 9.66 -22.35
11/30/2009 -30.13 -30.70 11.08 -17.69
12/31/2009 -25.43 -25.75 9.34 -16.10
1/31/2010 -29.68 -29.62 11.01 -19.12
2/28/2010 -25.48 -25.86 11.43 -16.61
3/31/2010 -18.20 -18.31 11.29 -11.58
4/30/2010 -12.44 -12.64 12.45 -10.19
5/31/2010 -17.00 -17.48 13.40 -17.36
6/30/2010 -21.68 -21.62 15.17 -21.68
7/31/2010 -13.92 -14.16 16.40 -16.20
8/31/2010 -15.33 -15.35 17.90 -19.98
9/30/2010 -11.68 -11.57 18.03 -12.84
10/31/2010 -8.04 -7.41 18.45 -9.52
11/30/2010 -9.76 -9.23 17.77 -9.51
12/31/2010 -5.16 -4.99 16.50 -3.46
1/31/2011 -2.17 -1.90 16.63 -1.17
2/28/2011 2.93 2.63 16.92 2.21
3/31/2011 1.50 1.04 16.99 2.25
4/30/2011 7.27 6.80 18.47 5.28
5/31/2011 8.99 8.28 20.02 4.09
6/30/2011 5.39 4.70 19.67 2.35
7/31/2011 7.21 6.31 21.57 0.27
8/31/2011 0.31 0.29 23.34 -5.18
9/30/2011 -11.02 -10.70 24.24 -11.84
10/31/2011 1.48 2.16 24.37 -2.21
11/30/2011 -2.13 -1.70 24.27 -2.42
12/31/2011 2.54 2.89 25.63 -1.42
1/31/2012 9.07 9.58 26.73 2.99
2/29/2012 7.64 8.41 26.71 7.45
3/31/2012 12.97 14.00 26.01 10.98
4/30/2012 16.14 17.28 27.41 10.29
5/31/2012 10.10 11.95 28.56 3.66
6/30/2012 15.92 18.23 28.61 7.93
7/31/2012 18.18 20.54 30.39 9.43
8/31/2012 18.03 20.57 30.47 11.89
9/30/2012 15.80 18.42 30.65 14.78
10/31/2012 14.82 17.42 30.91 12.66
11/30/2012 14.71 17.09 31.11 13.32
12/31/2012 18.59 21.47 30.93 14.35
1/31/2013 22.53 26.02 30.01 20.27
2/28/2013 23.00 27.61 30.66 21.91
3/31/2013 27.07 31.42 30.77 26.48
4/30/2013 34.82 40.20 32.09 28.92
5/31/2013 26.91 31.90 29.73 31.93
6/30/2013 23.41 29.36 27.73 30.16
7/31/2013 24.62 30.59 27.90 36.78
8/31/2013 16.23 21.50 27.25 32.82
9/30/2013 21.13 25.37 28.45 36.99
10/31/2013 26.92 30.98 29.49 43.28
11/30/2013 21.71 24.18 29.01 47.65
12/31/2013 21.95 24.47 28.28 51.39
1/31/2014 25.86 29.63 30.17 46.15
2/28/2014 32.55 36.13 30.87 52.84
3/31/2014 33.57 36.89 30.64 54.12
4/30/2014 37.96 41.43 31.75 55.26
5/31/2014 41.02 44.84 33.24 58.91
6/30/2014 42.84 46.45 33.31 62.19
7/31/2014 42.74 46.50 32.98 59.95
8/31/2014 46.51 50.82 34.45 66.35
9/30/2014 38.13 41.84 33.53 64.02
10/31/2014 53.49 55.94 34.85 68.03
11/30/2014 56.32 59.01 35.80 72.54
12/31/2014 60.25 61.98 35.93 72.11
1/31/2015 70.27 72.85 38.78 66.94
2/28/2015 65.23 66.83 37.48 76.54
3/31/2015 68.28 69.68 38.11 73.75
4/30/2015 58.24 60.36 37.62 75.41
5/31/2015 57.79 60.16 37.29 77.67
6/30/2015 50.22 52.79 35.79 74.23
7/31/2015 59.40 61.41 36.73 77.88
8/31/2015 49.60 51.42 36.54 67.15
9/30/2015 54.02 55.85 37.46 63.01
10/31/2015 61.84 65.00 37.48 76.76
11/30/2015 61.10 64.14 37.12 77.29
12/31/2015 64.08 67.16 36.68 74.49
1/31/2016 57.92 61.56 38.56 65.83
2/29/2016 56.99 60.88 39.54 65.61
3/31/2016 72.14 77.20 40.82 76.84
4/30/2016 67.63 72.97 41.36 77.53
5/31/2016 72.38 77.17 41.40 80.72
6/30/2016 84.52 89.53 43.94 81.19
7/31/2016 91.34 97.39 44.85 87.87
8/31/2016 85.08 90.15 44.68 88.13
9/30/2016 81.08 86.81 44.60 88.17
10/31/2016 71.34 76.24 43.49 84.73
11/30/2016 67.53 73.27 40.10 91.57
12/31/2016 74.03 81.40 40.30 95.36
1/31/2017 72.50 81.61 40.57 99.07
2/28/2017 79.12 87.80 41.52 106.97
3/31/2017 75.04 83.51 41.44 107.21
4/30/2017 75.32 83.73 42.53 109.34
5/31/2017 73.22 82.32 43.63 112.29
6/30/2017 76.35 86.31 43.49 113.61
7/31/2017 77.48 88.58 44.10 118.00
8/31/2017 79.09 88.10 45.40 118.67
9/30/2017 77.64 88.05 44.70 123.18
10/31/2017 76.94 86.24 44.79 128.39
11/30/2017 81.30 91.29 44.60 135.39
12/31/2017 81.10 90.88 45.27 138.01
1/31/2018 74.94 82.91 43.59 151.64
2/28/2018 62.63 68.80 42.23 142.36
3/31/2018 69.14 0.00 43.14 136.20
4/30/2018 70.46 77.74 42.08 137.11
Date Dividends
6/13/2008 0.1315
9/25/2008 0.1369
6/18/2009 0.1318
9/24/2009 0.0938
3/18/2010 0.0256
6/24/2010 0.0905
9/23/2010 0.0748
3/24/2011 0.0247
6/23/2011 0.0382
9/22/2011 0.0367
12/16/2011 0.0555
3/22/2012 0.0839
6/21/2012 0.0758
9/20/2012 0.0979
12/14/2012 0.1564
3/21/2013 0.052
6/20/2013 0.1678
9/19/2013 0.1076
12/13/2013 0.0229
3/20/2014 0.0529
6/19/2014 0.1231
9/18/2014 0.1252
12/11/2014 0.1278
12/29/2014 0.0569
3/18/2015 0.0447
6/17/2015 0.1233
9/23/2015 0.1738
12/10/2015 0.1905
3/23/2016 0.0755
6/22/2016 0.1191
9/21/2016 0.1959
12/8/2016 0.213
3/22/2017 0.0831
6/21/2017 0.0789
9/20/2017 0.0836
12/7/2017 0.0616
12/27/2017 0.0384
3/21/2018 0.0088

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, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 05/20/2018

Date 2013 2014 2015 2016 2017
Short Term 0.1761 0.4868 0.4472
Long Term 0.0032 1.0441 1.5582 2.2193 0.9024
Total Amount of Distribution 0.0032 1.2201 2.0449 2.6665 0.9024
Record Date 12/11/13 12/10/14 12/9/15 12/7/16 12/6/17
Ex Div Date 12/12/13 12/11/14 12/10/15 12/8/16 12/7/17
Pay Date 12/13/13 12/11/14 12/10/15 12/8/16 12/7/17

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

Portfolio

Top Issuers

(77.8% of assets as of 04/30/2018)


Portfolio Holdings Breakdown

Country
Equity Sector
Asset Allocation
Market Cap 7
Country Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
United States 99.1% 100.0% -0.9%
Equity Sector Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Apartments 15.0% 13.2% 1.8%
Office 13.1% 11.8% 1.3%
Data Centers 12.1% 8.1% 4.0%
Industrial 11.2% 9.4% 1.8%
Lodging/Resorts 8.5% 6.7% 1.8%
Health Care 8.0% 10.9% -2.9%
Regional Malls 6.4% 9.4% -3.0%
Shopping Centers 6.3% 6.0% 0.3%
Free Standing 4.4% 4.0% 0.4%
Infrastructure Reits 4.1% - -
Manufactured Homes 3.9% 1.9% 2.0%
Single Family Homes 2.4% 1.5% 0.9%
Specialty 1.7% 4.2% -2.5%
Home Financing 1.0% - -
Diversified 0.8% 6.3% -5.5%
Asset Allocation Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Equity 99.1% 100.0% -0.9%
Market Cap Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Mid 48.6% 50.4% -1.8%
Large 39.7% 35.5% 4.2%
Small 10.8% 14.2% -3.3%
Analytics
(As of 04/30/2018)

Morningstar 04/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
232
Category
Real Estate
Performance Statistics
3Y
5Y
Alpha
-0.87
0.01
Beta
0.96
0.98
Information Ratio
-0.57
-0.03
R-Squared
98.41
98.37
Sharpe Ratio
0.21
0.38
Standard Deviation
13.03
13.88
Sortino Ratio
0.09
0.17
Tracking Error
1.72
1.79
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
3/21/2018
Per Share ($)
$0.0088
12-Month Distribution ($)
$0.2713
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
33.99
30.85
P/E Ratio (NTM)
42.39
37.32
Price/Book
2.24
2.12
Turnover Ratio
114.00%
-
Distribution Rate
Distribution
0.15%
Adjusted Distribution
0.10%
Distribution Sources
  • D
Net Income
0.00%
Net Profit from Sale
0.00%
Other Capital Sources
100.00%
Documents
  1. 1. The Fund's portfolio managers are employed by its Sub-Sub-Adviser, Barings LLC.
  2. 2. Special Risks: Investments in real estate companies, including REITs or similar structures, are subject to volatility and risk. Smaller real estate companies may also be subject to liquidity risk. 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. 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.
  3. 3. The Fund intends to declare and pay dividends quarterly. At the time of the distribution, the amounts attributed to each category (dividend income, return of capital and/or capital gains) are estimated using historical information because the character of the amounts received from underlying real estate investment trusts ("REITs") is unknown until after the end of the calendar year. The amount distributed to shareholders is based on the underlying REIT distributions received less fund expenses. The distribution rate is based on the ex-dividend date immediately preceding the nearest month-end or quarter-end. The ex-dividend date is the day before the pay date. The distribution rate 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. Each result is compounded semiannually and annualized. Adjusted distribution rate for each share class is based on the Fund's distributed income less an estimate of the average return of capital based on historical ratios from the past three calendar years and that date's net asset value. The result is compounded semiannually and annualized. Falling share prices artificially increase distribution rates. Please note that OppenheimerFunds, Inc. is not quoting a 30-day SEC yield. See the Fund's prospectus for more information.
  4. 4. 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.
  5. 5. Access index definitions.
  6. 6. 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.
  7. 7. 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.
  8. 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.
  9. 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 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  10. 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.
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  12. 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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