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EMVIX

Emerging Markets Innovators Fund

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Overview

The Strategy typically invests in smaller and mid-cap emerging and developing market stocks.

Inception Date
June 30, 2014
Investment Style
Emerging Markets Innovators
Fund Index
MSCI Emerging Markets Mid Cap Index
CUSIP
68385F504
NAV
  • A
(as of 06/22/2018)
$11.35
Total Assets
(as of 05/31/2018)
$529.75 MM
Gross Expense Ratio
(as of 05/31/2018)
1.33%
Net Expense Ratio
(as of 05/31/2018)
1.26%
Other Investment Options

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Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 05/31/2018
  • B
as of 03/31/2018
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-03-31
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (NAV)
1.49% 5.31% 5.31% 31.70% 10.89% 5.90%
MSCI Emerging Markets Mid Cap Index
-0.13% 1.66% 1.66% 21.97% 6.73% 3.67%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-05-31
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (NAV)
-3.26% -4.54% -0.94% 17.50% 7.10% 4.00%
MSCI Emerging Markets Mid Cap Index
-2.18% -2.41% -0.67% 13.73% 4.39% 2.90%
Gross Expense Ratio: 1.33% | Net Expense Ratio: 1.26%

The performance data quoted represents past performance, which does not guarantee future results. The investments 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. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index
2015 -5.52% -13.21%
2016 -0.83% 4.84%
2017 41.14% 35.14%

The performance data quoted represents past performance, which does not guarantee future results. The investments 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. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index MSCI EAFE MSCI World
5/31/2015 0.00 0.00 0.00 0.00
6/30/2015 -0.53 -3.91 -2.83 -2.33
7/31/2015 -4.86 -8.96 -0.82 -0.57
8/31/2015 -12.78 -17.16 -8.11 -7.15
9/30/2015 -15.42 -19.13 -12.78 -10.58
10/31/2015 -10.88 -14.21 -5.96 -3.49
11/30/2015 -11.72 -17.29 -7.42 -3.97
12/31/2015 -11.40 -19.16 -8.67 -5.66
1/31/2016 -15.10 -23.91 -15.27 -11.30
2/29/2016 -17.32 -24.50 -16.83 -11.96
3/31/2016 -11.62 -14.94 -11.41 -5.99
4/30/2016 -10.56 -13.91 -8.85 -4.50
5/31/2016 -11.40 -17.59 -9.68 -3.96
6/30/2016 -9.50 -15.02 -12.71 -5.04
7/31/2016 -6.97 -9.86 -8.29 -1.03
8/31/2016 -5.49 -9.38 -8.22 -0.95
9/30/2016 -3.59 -8.84 -7.09 -0.42
10/31/2016 -5.17 -9.22 -8.99 -2.35
11/30/2016 -12.14 -14.67 -10.81 -0.94
12/31/2016 -12.14 -15.25 -7.76 1.43
1/31/2017 -7.71 -10.59 -5.08 3.88
2/28/2017 -5.49 -7.16 -3.72 6.76
3/31/2017 -0.84 -4.54 -1.07 7.89
4/30/2017 4.54 -2.47 1.44 9.49
5/31/2017 4.54 0.03 5.17 11.81
6/30/2017 6.02 0.18 4.98 12.24
7/31/2017 11.40 5.22 8.01 14.92
8/31/2017 14.26 7.20 7.97 15.09
9/30/2017 14.99 6.51 10.66 17.67
10/31/2017 15.95 8.06 12.34 19.89
11/30/2017 19.11 8.44 13.51 22.49
12/31/2017 24.00 14.53 15.34 24.15
1/31/2018 30.69 22.15 21.12 30.70
2/28/2018 28.67 16.58 15.65 25.29
3/31/2018 30.58 16.43 13.57 22.56
4/30/2018 26.97 16.31 16.16 23.97
5/31/2018 22.83 13.77 13.55 24.74

The performance data quoted represents past performance, which does not guarantee future results. The investments 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. Class I 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 06/22/2018

Date 2013 2014 2015 2016 2017
Short Term 0.0050
Long Term
Total Amount of Distribution 0.0050
Record Date 12/4/14
Ex Div Date 12/5/14
Pay Date 12/5/14

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

Portfolio

Top Issuers

(34.6% of assets as of 05/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
China 23.7% 27.3% -3.6%
Taiwan 15.4% 13.2% 2.2%
India 13.1% 7.7% 5.4%
South Korea 9.5% 15.5% -6.1%
South Africa 6.2% 7.7% -1.6%
Brazil 5.8% 8.2% -2.4%
Mexico 2.3% 2.8% -0.5%
Argentina 1.9% - -
Hong Kong 1.8% - -
Thailand 1.5% 1.9% -0.4%
Indonesia 1.2% 1.6% -0.5%
Malaysia 1.2% 2.9% -1.7%
United Kingdom 1.2% - -
Philippines 1.1% 1.0% 0.1%
Singapore 0.8% - -
Greece 0.8% 1.5% -0.7%
Kenya 0.7% - -
Egypt 0.7% 0.2% 0.5%
Pakistan 0.7% 0.3% 0.4%
Georgia 0.6% - -
Developed Markets Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Asia Pacific 2.6% - -
Europe 1.7% - -
Emerging Markets Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Asia Pacific 68.0% 71.5% -3.5%
Americas 10.7% 12.8% -2.1%
Africa 7.6% 7.9% -0.4%
Europe 3.4% 6.5% -3.1%
Middle East 0.3% 1.3% -0.9%
Equity Sector Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Consumer Discretionary 29.4% 14.6% 14.8%
Information Technology 17.5% 15.2% 2.2%
Health Care 16.6% 9.0% 7.6%
Financials 11.3% 12.6% -1.3%
Consumer Staples 7.5% 7.4% 0.1%
Industrials 7.0% 15.1% -8.0%
Materials 2.9% 10.6% -7.7%
Real Estate 2.0% 6.1% -4.1%
Industry Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Biotechnology 10.2% 1.4% 8.8%
Diversified Consumer Services 8.2% 1.6% 6.6%
Specialty Retail 5.9% 2.1% 3.9%
Semiconductors & Semiconductor Equipment 5.7% 3.2% 2.5%
Hotels Restaurants & Leisure 4.9% 0.6% 4.3%
Banks 4.6% 4.8% -0.1%
Electronic Equipment Instruments & Components 4.2% 3.5% 0.7%
Food & Staples Retailing 3.6% 2.0% 1.7%
Personal Products 3.2% 0.4% 2.7%
Consumer Finance 3.1% 0.8% 2.3%
Auto Components 3.0% 0.9% 2.1%
Software 3.0% 1.3% 1.8%
Health Care Providers & Services 2.9% 1.1% 1.7%
Life Sciences Tools & Services 2.7% - -
Household Durables 2.1% 1.4% 0.7%
Construction Materials 2.0% 2.2% -0.2%
Machinery 2.0% 2.9% -0.9%
Real Estate Management & Development 2.0% 4.3% -2.3%
Internet Software & Services 2.0% 3.9% -1.8%
IT Services 1.9% 0.3% 1.5%
Asset Allocation Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Equity 94.3% 100.0% -5.7%
Net Cash and Equivalents 5.7% - -
Market Cap Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index Overweight / Underweight
Mid 48.7% 37.9% 10.8%
Large 32.2% 57.8% -25.6%
Small 13.4% 4.4% 9.1%
Analytics
(As of 05/31/2018)

Morningstar 05/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
674
Category
Diversified Emerging Mkts
Performance Statistics
3Y
Alpha
3.53
Beta
0.73
Information Ratio
0.37
R-Squared
77.52
Sharpe Ratio
0.56
Standard Deviation
12.55
Upside Capture
91.22
Downside Capture
75.22
Sortino Ratio
0.24
Win Ratio
53.00
Loss Ratio
47.00
Tracking Error
7.24
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/4/2017
Per Share ($)
$0.0604
12-Month Distribution ($)
$0.0604
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$5.20 B
$5.80 B
Median Market Cap (weighted)
$3.30 B
$4.40 B
P/E Ratio (LTM)
26.88
18.00
P/E Ratio (NTM)
20.06
13.52
Price/Book
4.38
1.89
Return on Equity
19.84%
14.25%
Turnover Ratio
23%
-
Active Share
92.47%
-
Distribution Sources
  • D
Net Income
0.00%
Net Profit from Sale
0.00%
Other Capital Sources
100.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. Special Risks 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. These risks are magnified in frontier markets. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk. Small and mid-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 or mid-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile.
  2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
  3. 3. 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.
  4. 4. Access index definitions.
  5. 5. 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.
  6. 6. 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.
  7. 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.
  8. B. The performance data quoted represents past performance, which does not guarantee future results. The investments 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. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
  9. 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.
  10. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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