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RMUYX

Rochester® Fund Municipals

Overview

The strategy typically seeks investment-grade bonds the income of which is exempt from federal, New York State, and New York City personal income taxes.

Inception Date
April 28, 2000
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
771362407
NAV
  • B
(as of 01/18/2019)
$15.43
Total Assets
(as of 12/31/2018)
$4.93 BN
Gross Expense Ratio
(as of 12/31/2018)
0.81%
Net Expense Ratio
(as of 12/31/2018)
0.73%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • C
as of 12/31/2018
  • C

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (NAV)
9.07% 9.07% 6.55% 7.19% 9.17% 5.53%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (NAV)
9.07% 9.07% 6.55% 7.19% 9.17% 5.53%
Bloomberg Barclays Municipal Index
1.28% 1.28% 2.30% 3.82% 4.85% -
Gross Expense Ratio: 0.81% | Net Expense Ratio: 0.73%

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® Fund Municipals Bloomberg Barclays Municipal Index
2001 5.25% 5.13%
2002 5.57% 9.60%
2003 8.16% 5.31%
2004 7.50% 4.48%
2005 8.93% 3.51%
2006 8.45% 4.84%
2007 -1.44% 3.36%
2008 -30.74% -2.47%
2009 45.18% 12.91%
2010 3.84% 2.38%
2011 11.64% 10.70%
2012 13.10% 6.78%
2013 -10.72% -2.55%
2014 14.60% 9.05%
2015 2.09% 3.30%
2016 6.22% 0.25%
2017 4.41% 5.45%
2018 9.07% 1.28%

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® Fund Municipals Bloomberg Barclays Municipal Index BBG Barclays Agg
12/31/2008 0.00 0.00 0.00
1/31/2009 9.01 3.66 -0.88
2/28/2009 12.37 4.21 -1.26
3/31/2009 10.46 4.22 0.12
4/30/2009 17.41 6.31 0.59
5/31/2009 25.84 7.43 1.32
6/30/2009 23.51 6.43 1.90
7/31/2009 25.54 8.21 3.54
8/31/2009 34.04 10.06 4.62
9/30/2009 49.11 14.00 5.72
10/31/2009 43.75 11.61 6.24
11/30/2009 43.73 12.53 7.61
12/31/2009 45.18 12.91 5.93
1/31/2010 46.99 13.50 7.55
2/28/2010 49.41 14.60 7.95
3/31/2010 51.24 14.33 7.82
4/30/2010 54.33 15.72 8.94
5/31/2010 56.27 16.59 9.86
6/30/2010 54.88 16.65 11.58
7/31/2010 57.17 18.11 12.77
8/31/2010 62.14 20.81 14.22
9/30/2010 63.24 20.62 14.34
10/31/2010 63.99 20.29 14.75
11/30/2010 56.45 17.89 14.09
12/31/2010 50.76 15.60 12.86
1/31/2011 46.44 14.75 12.99
2/28/2011 47.96 16.58 13.27
3/31/2011 46.56 16.19 13.34
4/30/2011 49.61 18.27 14.78
5/31/2011 53.95 20.29 16.27
6/30/2011 57.25 20.71 15.93
7/31/2011 59.57 21.94 17.77
8/31/2011 60.27 24.03 19.49
9/30/2011 66.24 25.31 20.36
10/31/2011 64.65 24.84 20.49
11/30/2011 63.84 25.58 20.39
12/31/2011 68.32 27.97 21.71
1/31/2012 75.02 30.93 22.78
2/29/2012 76.54 31.06 22.75
3/31/2012 77.19 30.21 22.08
4/30/2012 79.95 31.71 23.43
5/31/2012 82.09 32.80 24.55
6/30/2012 82.07 32.66 24.60
7/31/2012 85.62 34.76 26.32
8/31/2012 86.44 34.92 26.40
9/30/2012 87.22 35.73 26.57
10/31/2012 88.75 36.11 26.82
11/30/2012 92.92 38.36 27.02
12/31/2012 90.36 36.65 26.84
1/31/2013 93.91 37.22 25.95
2/28/2013 95.22 37.63 26.58
3/31/2013 93.25 37.04 26.69
4/30/2013 96.59 38.54 27.97
5/31/2013 95.91 36.85 25.68
6/30/2013 85.31 32.97 23.74
7/31/2013 78.78 31.81 23.91
8/31/2013 69.49 29.93 23.28
9/30/2013 73.10 32.72 24.44
10/31/2013 75.26 33.77 25.45
11/30/2013 73.51 33.50 24.98
12/31/2013 69.95 33.16 24.27
1/31/2014 75.48 35.75 26.11
2/28/2014 80.88 37.34 26.78
3/31/2014 81.06 37.57 26.56
4/30/2014 82.67 39.23 27.63
5/31/2014 88.36 41.02 29.08
6/30/2014 85.59 41.14 29.15
7/31/2014 84.93 41.39 28.83
8/31/2014 90.85 43.10 30.25
9/30/2014 91.60 43.25 29.37
10/31/2014 91.86 44.23 30.64
11/30/2014 93.24 44.48 31.56
12/31/2014 94.77 45.21 31.69
1/31/2015 98.81 47.78 34.45
2/28/2015 98.71 46.26 33.18
3/31/2015 98.44 46.68 33.80
4/30/2015 97.18 45.91 33.32
5/31/2015 99.35 45.51 33.00
6/30/2015 92.60 45.37 31.55
7/31/2015 93.40 46.43 32.47
8/31/2015 94.63 46.72 32.28
9/30/2015 97.31 47.78 33.17
10/31/2015 98.47 48.37 33.19
11/30/2015 99.14 48.96 32.84
12/31/2015 98.84 50.00 32.41
1/31/2016 100.40 51.79 34.23
2/29/2016 101.78 52.03 35.19
3/31/2016 102.91 52.51 36.43
4/30/2016 104.01 53.63 36.95
5/31/2016 106.60 54.05 36.98
6/30/2016 115.19 56.50 39.45
7/31/2016 116.44 56.60 40.33
8/31/2016 117.24 56.81 40.17
9/30/2016 119.13 56.02 40.09
10/31/2016 117.42 54.39 39.01
11/30/2016 109.83 48.63 35.73
12/31/2016 111.19 50.37 35.92
1/31/2017 113.86 51.37 36.18
2/28/2017 116.35 52.42 37.10
3/31/2017 117.80 52.75 37.03
4/30/2017 122.79 53.86 38.08
5/31/2017 124.99 56.30 39.15
6/30/2017 125.06 55.74 39.01
7/31/2017 125.28 57.00 39.61
8/31/2017 127.23 58.19 40.86
9/30/2017 123.83 57.39 40.19
10/31/2017 120.52 57.77 40.27
11/30/2017 118.42 56.93 40.09
12/31/2017 120.51 58.57 40.73
1/31/2018 120.39 56.70 39.11
2/28/2018 121.68 56.23 37.79
3/31/2018 127.50 56.81 38.68
4/30/2018 129.77 56.25 37.64
5/31/2018 136.48 58.04 38.63
6/30/2018 138.96 58.17 38.46
7/31/2018 139.55 58.56 38.49
8/31/2018 144.06 58.96 39.38
9/30/2018 142.66 57.94 38.48
10/31/2018 138.59 56.96 37.39
11/30/2018 138.59 58.70 38.21
12/31/2018 140.50 60.60 40.75
Date Dividends
1/27/2009 0.0752
2/24/2009 0.0754
3/24/2009 0.0765
4/21/2009 0.0764
5/26/2009 0.0769
6/23/2009 0.0765
7/28/2009 0.077
8/25/2009 0.0765
9/22/2009 0.0776
10/27/2009 0.0783
11/24/2009 0.0777
12/30/2009 0.0811
1/26/2010 0.0806
2/23/2010 0.0809
3/23/2010 0.0809
4/27/2010 0.0828
5/25/2010 0.0826
6/22/2010 0.0827
7/27/2010 0.0831
8/24/2010 0.0828
9/21/2010 0.0828
10/26/2010 0.0843
11/23/2010 0.0837
12/30/2010 0.0842
1/25/2011 0.0827
2/22/2011 0.0831
3/22/2011 0.0836
4/26/2011 0.1337
5/24/2011 0.0836
6/21/2011 0.0837
7/26/2011 0.0844
8/23/2011 0.084
9/27/2011 0.0838
10/25/2011 0.0835
11/22/2011 0.0838
12/29/2011 0.084
1/24/2012 0.0845
2/21/2012 0.0848
3/27/2012 0.0853
4/24/2012 0.0849
5/22/2012 0.0848
6/26/2012 0.0853
7/24/2012 0.0848
8/28/2012 0.0842
9/25/2012 0.0837
10/23/2012 0.0838
11/27/2012 0.0839
12/28/2012 0.0817
1/22/2013 0.0814
2/19/2013 0.0815
3/26/2013 0.082
4/23/2013 0.0819
5/28/2013 0.0822
6/25/2013 0.0817
7/23/2013 0.0798
8/27/2013 0.0801
9/24/2013 0.0796
10/22/2013 0.0795
11/26/2013 0.0809
12/30/2013 0.081
1/28/2014 0.0807
2/25/2014 0.0807
3/25/2014 0.0817
4/22/2014 0.0817
5/27/2014 0.0821
6/24/2014 0.0817
7/22/2014 0.0817
8/26/2014 0.0821
9/23/2014 0.0817
10/28/2014 0.0821
11/25/2014 0.0827
12/31/2014 0.0832
1/27/2015 0.0827
2/24/2015 0.0828
3/24/2015 0.0827
4/21/2015 0.0827
5/26/2015 0.0832
6/23/2015 0.0827
7/28/2015 0.0831
8/25/2015 0.0806
9/22/2015 0.0806
10/27/2015 0.0811
11/24/2015 0.0806
12/31/2015 0.0812
1/26/2016 0.0805
2/23/2016 0.0786
3/22/2016 0.0786
4/26/2016 0.079
5/24/2016 0.0787
6/21/2016 0.0757
7/26/2016 0.0761
8/23/2016 0.0727
9/27/2016 0.0732
10/25/2016 0.0727
11/22/2016 0.0687
12/30/2016 0.0692
1/24/2017 0.0684
2/21/2017 0.0657
3/28/2017 0.0661
4/25/2017 0.0667
5/23/2017 0.0668
6/27/2017 0.0636
7/25/2017 0.0588
8/22/2017 0.0588
9/26/2017 0.0595
10/24/2017 0.0527
11/21/2017 0.0527
12/29/2017 0.0498
1/23/2018 0.0482
2/20/2018 0.0487
3/27/2018 0.0464
4/24/2018 0.0458
5/22/2018 0.0458
6/26/2018 0.0466
7/24/2018 0.0459
8/28/2018 0.0466
9/25/2018 0.0459
10/23/2018 0.0459
11/27/2018 0.0465
12/31/2018 0.0464

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 01/18/2019

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

(110.3% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® Fund Municipals Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 114.1% 100.0% 14.1%
Equity 0.1% - -
State Rochester® Fund Municipals Bloomberg Barclays Municipal Index Overweight / Underweight
New York 93.1% 15.4% 77.8%
Puerto Rico 17.7% 0.3% 17.4%
Multistate Authority 1.7% 0.1% 1.7%
Northern Marianas 0.5% - -
Virgin Islands 0.4% 0.0% 0.4%
Guam 0.3% 0.2% 0.1%
Credit Rating Allocation Rochester® Fund Municipals Bloomberg Barclays Municipal Index Overweight / Underweight
AAA 5.1% 19.5% -14.4%
AA 48.7% 56.3% -7.6%
A 17.1% 18.1% -1.0%
BBB 13.2% 4.9% 8.3%
BB 0.3% 0.1% 0.2%
B 0.7% - -
CCC 0.1% - -
CC 9.8% - -
C 1.4% - -
Unrated 17.8% 1.2% 16.6%
Other 0.1% - -
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
66
Category
Muni New York Long
Performance Statistics
3Y
5Y
Alpha
4.13
2.95
Beta
1.00
1.11
Information Ratio
1.26
0.93
R-Squared
50.51
47.34
Sharpe Ratio
1.13
1.29
Standard Deviation
4.77
4.96
Sortino Ratio
1.93
2.34
Tracking Error
3.37
3.62
Yields
Dividend Yield (w/o sales charge)
3.63%
Standardized Yield
3.43%
Unsubsidized Yield
3.42%
Taxable Equivalent Yield
6.39%
Interest Income 12/31/2017
Exposed to AMT
17.15%
Lipper
  • E
1y
3y
5y
Percentile
2
2
2
Rank
1
1
1
Funds in Category
91
83
81
Peer Group
New York Municipal Debt Funds
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
11.58 yrs
6.35 yrs
Current Duration
9.30 yrs
6.60 yrs
Turnover Ratio
23%
-
Dividends
  • F
Est. Frequency
Monthly
Last Pay Date
12/31/2018
Per Share ($)
$0.0464
12-Month Distribution ($)
$0.5587
Distribution Sources
  • F
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. 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.
  2. 2. 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.
  3. 3. 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, © 2018 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.
  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. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  13. B. 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. C. 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.
  15. D. "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. E. Lipper ranking is for Class Y shares and ranking may include more than one share class of funds in the category, including other share classes of this Fund. Ranking is based on total return as of the above date, without considering sales charges. Different share classes may have different expenses and performance characteristics.  <b>Past performance does not guarantee future results.</b>
  17. F. There is no guarantee of the payment of any dividend or other distributions at any level.
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