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QOPIX

Fundamental Alternatives Fund

Overview

Alternative multi-strategy investing long and short across multiple asset types, seeking to deliver high risk adjusted returns with low volatility.

Inception Date
February 28, 2013
Investment Style
Multi Alternative
Fund Index
HFRX Global Hedge Fund Index
CUSIP
68380E759
NAV
  • A
(as of 12/15/2017)
$27.58
Total Assets
(as of 11/30/2017)
$1.24 BN
Gross Expense Ratio
(as of 11/30/2017)
1.67%
Net Expense Ratio
(as of 11/30/2017)
1.63%
Other Investment Options

For a suite of investment vehicles beyond mutual funds, please visit OFIglobal.com. OFI Global Asset Management™, an OppenheimerFunds company, delivers the firm’s investment expertise and solutions to institutional and high-net worth investors.

Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 11/30/2017
  • F
as of 09/30/2017
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-09-30
  • C
1 yr 3 yr since inception
Fundamental Alternatives Fund (NAV)
0.28% 0.18% 2.32% 3.02% 2.07% 4.16%
HFRX Global Hedge Fund Index
0.60% 1.83% 4.43% 5.64% 0.45% -
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-11-30
  • C
1 yr 3 yr since inception
Fundamental Alternatives Fund (NAV)
0.82% 0.36% 2.39% 3.02% 2.10% 4.03%
HFRX Global Hedge Fund Index
0.07% 1.36% 5.22% 6.12% 1.04% -
Gross Expense Ratio: 1.67% | Net Expense Ratio: 1.63%

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 Fundamental Alternatives Fund HFRX Global Hedge Fund Index
2014 4.98% -0.58%
2015 2.41% -3.64%
2016 1.68% 2.50%

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 Fundamental Alternatives Fund HFRX Global Hedge Fund Index BBG Barclays Agg S&P 500
11/30/2007 0.00 0.00 0.00 0.00
12/31/2007 -0.44 -0.14 0.28 -0.69
1/31/2008 -2.53 -2.19 1.97 -6.65
2/29/2008 0.37 -0.46 2.11 -9.68
3/31/2008 -0.72 -2.92 2.46 -10.07
4/30/2008 0.48 -1.76 2.24 -5.69
5/31/2008 2.25 -0.34 1.49 -4.47
6/30/2008 -0.86 -1.17 1.41 -12.52
7/31/2008 -2.81 -3.96 1.33 -13.26
8/31/2008 -1.22 -5.19 2.29 -12.01
9/30/2008 -8.05 -11.73 0.91 -19.85
10/31/2008 -17.56 -19.98 -1.47 -33.31
11/30/2008 -20.47 -22.41 1.74 -38.09
12/31/2008 -20.47 -23.36 5.54 -37.43
1/31/2009 -19.55 -22.52 4.60 -42.71
2/28/2009 -22.38 -22.81 4.21 -48.81
3/31/2009 -18.81 -22.83 5.66 -44.32
4/30/2009 -15.24 -21.59 6.16 -39.00
5/31/2009 -13.22 -19.12 6.93 -35.58
6/30/2009 -12.45 -19.09 7.54 -35.46
7/31/2009 -10.57 -17.81 9.28 -30.57
8/31/2009 -9.25 -16.78 10.41 -28.07
9/30/2009 -7.70 -14.93 11.57 -25.38
10/31/2009 -9.10 -14.98 12.12 -26.77
11/30/2009 -7.66 -13.57 13.57 -22.38
12/31/2009 -7.30 -13.09 11.79 -20.88
1/31/2010 -8.95 -13.11 13.50 -23.72
2/28/2010 -6.89 -12.88 13.93 -21.36
3/31/2010 -4.35 -11.67 13.79 -16.62
4/30/2010 -4.17 -10.96 14.97 -15.30
5/31/2010 -7.44 -13.32 15.94 -22.06
6/30/2010 -11.31 -14.14 17.76 -26.14
7/31/2010 -7.15 -13.08 19.01 -20.97
8/31/2010 -9.80 -12.93 20.54 -24.54
9/30/2010 -5.75 -11.44 20.67 -17.80
10/31/2010 -3.03 -10.44 21.10 -14.67
11/30/2010 -3.61 -10.69 20.41 -14.66
12/31/2010 0.34 -8.58 19.11 -8.96
1/31/2011 1.35 -8.07 19.25 -6.80
2/28/2011 4.50 -7.40 19.54 -3.61
3/31/2011 3.60 -8.21 19.61 -3.57
4/30/2011 5.89 -7.78 21.13 -0.71
5/31/2011 5.81 -9.07 22.71 -1.84
6/30/2011 3.86 -10.51 22.35 -3.47
7/31/2011 1.95 -10.61 24.29 -5.44
8/31/2011 -2.25 -13.71 26.11 -10.57
9/30/2011 -4.76 -16.28 27.03 -16.86
10/31/2011 -2.59 -15.60 27.16 -7.77
11/30/2011 -4.88 -16.33 27.05 -7.98
12/31/2011 -5.72 -16.69 28.45 -7.04
1/31/2012 -5.23 -15.25 29.58 -2.87
2/29/2012 -4.28 -14.05 29.55 1.33
3/31/2012 -3.38 -14.07 28.84 4.66
4/30/2012 -3.75 -13.97 30.26 4.01
5/31/2012 -4.61 -15.42 31.44 -2.24
6/30/2012 -3.83 -15.67 31.49 1.78
7/31/2012 -3.18 -15.21 33.31 3.20
8/31/2012 -2.73 -14.78 33.40 5.52
9/30/2012 -1.70 -14.45 33.58 8.25
10/31/2012 -2.27 -14.85 33.84 6.25
11/30/2012 -1.99 -14.50 34.05 6.87
12/31/2012 -1.78 -13.71 33.86 7.84
1/31/2013 -0.68 -12.02 32.93 13.43
2/28/2013 -0.31 -11.64 33.59 14.97
3/31/2013 0.47 -11.01 33.70 19.28
4/30/2013 1.01 -10.46 35.05 21.58
5/31/2013 1.99 -9.79 32.64 24.42
6/30/2013 1.91 -10.98 30.59 22.75
7/31/2013 2.60 -10.09 30.77 29.00
8/31/2013 1.99 -10.86 30.10 25.26
9/30/2013 2.07 -10.01 31.33 29.19
10/31/2013 2.69 -8.93 32.39 35.13
11/30/2013 4.78 -8.43 31.90 39.24
12/31/2013 7.28 -7.92 31.15 42.77
1/31/2014 7.77 -8.14 33.09 37.83
2/28/2014 9.61 -6.68 33.80 44.14
3/31/2014 9.74 -6.89 33.57 45.35
4/30/2014 9.70 -7.57 34.70 46.42
5/31/2014 10.97 -7.15 36.23 49.86
6/30/2014 11.79 -6.29 36.30 52.96
7/31/2014 11.13 -7.12 35.96 50.85
8/31/2014 12.98 -6.11 37.46 56.88
9/30/2014 12.69 -6.83 36.53 54.68
10/31/2014 11.99 -8.06 37.87 58.46
11/30/2014 12.61 -7.76 38.85 62.72
12/31/2014 12.40 -8.45 38.98 62.31
1/31/2015 13.32 -8.71 41.89 57.44
2/28/2015 14.61 -6.87 40.56 66.49
3/31/2015 15.03 -6.56 41.21 63.85
4/30/2015 13.86 -6.36 40.70 65.43
5/31/2015 15.33 -6.12 40.36 67.55
6/30/2015 14.95 -7.29 38.83 64.31
7/31/2015 16.33 -7.31 39.80 67.75
8/31/2015 14.66 -9.36 39.60 57.63
9/30/2015 14.49 -11.24 40.54 53.73
10/31/2015 15.83 -9.94 40.57 66.70
11/30/2015 15.28 -10.59 40.19 67.19
12/31/2015 14.87 -11.78 39.74 64.56
1/31/2016 14.53 -14.22 41.66 56.39
2/29/2016 13.81 -14.49 42.67 56.18
3/31/2016 13.98 -13.43 43.98 66.78
4/30/2016 13.31 -13.08 44.53 67.42
5/31/2016 16.22 -12.68 44.57 70.43
6/30/2016 16.43 -12.51 47.17 70.87
7/31/2016 15.92 -11.24 48.10 77.17
8/31/2016 15.29 -11.10 47.93 77.42
9/30/2016 15.84 -10.60 47.84 77.45
10/31/2016 15.92 -11.12 46.71 74.22
11/30/2016 15.88 -10.34 43.24 80.67
12/31/2016 16.60 -9.57 43.44 84.24
1/31/2017 15.84 -9.12 43.72 87.73
2/28/2017 18.05 -8.10 44.69 95.19
3/31/2017 17.07 -8.07 44.61 95.42
4/30/2017 17.96 -7.68 45.73 97.42
5/31/2017 19.02 -7.46 46.85 100.20
6/30/2017 18.98 -7.26 46.70 101.45
7/31/2017 18.30 -6.40 47.33 105.59
8/31/2017 18.81 -6.12 48.66 106.22
9/30/2017 19.11 -5.57 47.95 110.48
10/31/2017 18.22 -4.91 48.03 115.39
11/30/2017 19.19 -4.85 47.84 121.99

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 12/18/2017

Date 2012 2013 2014 2015 2016
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 by Strategy

(51.4% of assets as of 11/30/2017)


Long and Short Equity
Standard and Poor's 500 Index (The) Call, 2/16/18, $2640
12.1%
Chubb Ltd.
2.5%
Alphabet, Inc.
2.4%
UnitedHealth Group, Inc.
2.2%
M&T Bank Corp.
2.0%
Long and Short Credit
Barclays Bank plc, IG28 Index, Credit Default Swap
4.3%
Lukoil Intl Finance BV
2.2%
Citigroup, Inc.,VAR% Unsec. Sub. Nts., Perpetual
1.4%
RAMP Series 2006-NC3 Trust, Mtg. Asset-Backed Pass, FLT%, 3/25/36
1.3%
M&T Bank Corp.
0.6%
Long and Short Macro
Euro-Bund Future, 2017-12-
5.1%
SPDR Gold Shares
3.2%

Portfolio Holdings Breakdown

Holding 7
Country 7
Developed Markets 7
Emerging Markets 7
Equity Sector 7 8
Fixed Income Sector
Credit Rating Allocation 9
Asset Allocation 7
Market Cap 10
Holding Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Citi PB Collateral Cash 23.8% - -
Standard and Poor's 500 Index (The) Call, 2/16/18, $2640 12.1% - -
JP Morgan PB Collateral Cash 6.9% - -
Euro-Bund Future, 2017-12- 5.1% - -
Barclays Bank plc, IG28 Index, Credit Default Swap 4.3% - -
SPDR Gold Shares 3.2% - -
Chubb Ltd. 2.5% - -
Alphabet, Inc. 2.4% - -
Lukoil Intl Finance BV 2.2% - -
UnitedHealth Group, Inc. 2.2% - -
Oppenheimer Institutional Government Money Market Fund Cl. E 2.0% - -
M&T Bank Corp. 2.0% - -
Apple, Inc. 2.0% - -
Lockheed Martin Corp. 1.8% - -
Xilinx, Inc. 1.7% - -
Altria Group, Inc. 1.6% - -
Allstate Corp. (The) 1.6% - -
Honeywell Intl, Inc. 1.5% - -
Citigroup, Inc.,VAR% Unsec. Sub. Nts., Perpetual 1.4% - -
RAMP Series 2006-NC3 Trust, Mtg. Asset-Backed Pass, FLT%, 3/25/36 1.3% - -
Country Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
United States 105.6% - -
Germany 3.9% - -
Russia 2.2% - -
Canada 1.8% - -
Switzerland 0.9% - -
United Kingdom 0.8% - -
Sweden 0.3% - -
Ireland 0.1% - -
Luxembourg 0.1% - -
Norway -0.3% - -
Finland -0.5% - -
Netherlands -0.5% - -
Denmark -0.7% - -
Developed Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Americas 107.4% - -
Asia Pacific -3.9% - -
Europe -4.5% - -
Emerging Markets Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Europe 2.2% - -
Americas -0.8% - -
Asia Pacific -7.2% - -
Equity Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Broad Market 12.1% - -
Health Care 7.3% - -
Financials 7.0% - -
Industrials 6.0% - -
Energy 3.9% - -
Information Technology 3.3% - -
Telecommunication Services 2.3% - -
Utilities 1.9% - -
Materials 1.5% - -
Consumer Discretionary 0.5% - -
Consumer Staples -1.0% - -
Real Estate -7.6% - -
Fixed Income Sector Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Corporates 20.5% - -
Non Agencies MBS 4.8% - -
ABS 4.4% - -
Sovereign -0.2% - -
Treasuries -1.4% - -
Agencies -2.8% - -
Credit Rating Allocation Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Other 51.1% - -
BBB 14.8% - -
BB 8.9% - -
A 5.3% - -
B 5.3% - -
Unrated 4.3% - -
AA 2.7% - -
CCC 0.8% - -
Asset Allocation Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Equity 37.1% - -
Fixed Income 25.2% - -
Commodity 3.2% - -
Other -9.8% - -
Market Cap Fundamental Alternatives Fund HFRX Global Hedge Fund Index Overweight / Underweight
Large 31.9% - -
Mid 0.6% - -
Small -2.7% - -
Analytics
(As of 11/30/2017)

Morningstar 11/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
282
Category
Multialternative
Performance Statistics
3Y
Alpha
1.50
Beta
0.32
Information Ratio
0.29
R-Squared
15.10
Sharpe Ratio
0.58
Standard Deviation
2.96
Sortino Ratio
0.32
Tracking Error
3.64
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/14/2017
Per Share ($)
$0.5522
12-Month Distribution ($)
$0.1980
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
23.56
-
P/E Ratio (NTM)
16.64
-
Price/Book
3.09
-
Return on Equity
17.45%
-
Debt to Capital Ratio
42.66
-
Turnover Ratio
131.00%
-
Distribution Sources
  • D
Net Income
72.80%
Net Profit from Sale
0.00%
Other Capital Sources
27.20%
Insights
Alternatives
Assessing Risk in Alternative Strategy Portfolios

Understanding risk attributes and the impact on portfolio outcomes.

October 27, 2016
Bw assessing risk in alternative strategy portfolios 620x349
Alternatives
Millennials' Preferences Are Disrupting Music Business

Live events now drive artists’ income more than song and album sales.

December 20, 2016
Bw millennials preferences are disrupting music business 620x349
Alternatives
The Growing Importance of Alternative Strategies

Investors who expect lower returns for stocks and bonds should consider alternative strategies

November 10, 2016
Bw growing importance of alternative strategies 620x349
Alternatives
Investing a Step Ahead of Change

Michelle Borré analyzes data to uncover trends that others haven’t acted on yet.

April 06, 2016
Bw investing a step ahead of change 620x349
Alternatives
Alternatives—A Growth Path with Low Volatility?

Seeking refuge during periods of distress through broad diversification and low volatility.

October 19, 2017
Alternatives
A Decline in Retail? Here's How We Invest in It.

Tech is changing how consumers shop. We see unconventional opportunities.

January 17, 2017
Bw a decline in retail 620x349
Markets & Economy
Which Global Markets Are Expected to Rise or Fall?

Explore the big macro stories and key economic data that will impact asset classes and investment plans this year.

Bw 2017 mid year outlook 620x349
Alternatives
The Benefits of a Multi-Strategy Alternative Portfolio

We break down the important role alternatives can play in an investment portfolio.

July 28, 2016
Alternatives
Alt Strategies Can Offer Alpha and Risk Management

Recognizing the true definition of alpha and how alternative strategies can deliver it.

July 27, 2016
Alternatives
Fundamental Alternatives: A Strategy for Today's Market

Learn how we pursue low volatility and high risk-adjusted returns through alternative investments.

July 27, 2016
Bw oppenheimer fundamental alternatives fund 620x349
Documents

CHALLENGE THE STATUS QUO.

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CHALLENGE THE STATUS QUO.
Almost every industry is being disrupted today. Uncertainty creates risk, but also opportunity.
THE REALITY
To benefit from disruption, investors need to recognize it early and have the flexibility to realize gains from both those hurt and helped by major changes.

Learn more about Challenge the Index

Bw 4833912113001 620x349
  1. 1. Effective 12/2/13, The Fund will limit the market value of its total short positions to not more than 40% of its net assets at the time a short sale is entered into.
  2. 2. Special Risks: 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. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Short selling may increase volatility and risk of loss and is considered a speculative investment practice. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. 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 mid-sized company, if any gain is realized at all. Commodity-linked investments are speculative and have substantial risks, including the loss of principal. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  3. 3. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  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. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  6. 6. Access index definitions.
  7. 7. 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.
  8. 8. The Equity allocation in the Sector Allocation table is net of short positions.
  9. 9. If included in the credit rating breakdown table above, all securities except for those labeled "Treasury", "Agency," and "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 converts that rating to the equivalent S&P rating. If two or more NRSROs have assigned a rating to a security, the highest S&P equivalent rating is used. Unrated securities do not necessarily indicate low credit quality, and may or may not be the equivalent of investment-grade. "Investment-grade" securities are securities rated within the NRSROs four highest rating categories, which include AAA, AA, A and BBB. Please consult the Fund's Prospectus and Statement of Additional Information for further information.
  10. 10. 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.
  11. 11. 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.
  12. 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.
  13. B. 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.
  14. 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.
  15. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  16. E. 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.
  17. F. 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.
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