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RMUNX

Rochester® Fund Municipals

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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
May 15, 1986
Investment Style
Rochester Municipals
Fund Index
Bloomberg Barclays Municipal Index
CUSIP
771362100
NAV
  • A
(as of 12/18/2018)
$15.30
Total Assets
(as of 11/30/2018)
$4.93 BN
Gross Expense Ratio
(as of 11/30/2018)
1.05%
Net Expense Ratio
(as of 11/30/2018)
0.97%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 11/30/2018
  • F
as of 09/30/2018
  • F

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • F
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (NAV)
9.93% 8.23% 6.93% 6.80% 6.62% 6.32%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% -
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (with sales charge)
4.70% 3.09% 5.21% 5.77% 6.10% 6.16%
Bloomberg Barclays Municipal Index
-0.40% 0.35% 2.24% 3.54% 4.75% -
Cumulative
Annualized
ytd as of 2018-11-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (NAV)
7.97% 8.98% 5.98% 6.38% 8.18% 6.23%
Bloomberg Barclays Municipal Index
0.08% 1.13% 2.13% 3.52% 4.88% -
Cumulative
Annualized
ytd as of 2018-11-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Rochester® Fund Municipals (with sales charge)
2.84% 3.80% 4.27% 5.35% 7.66% 6.07%
Bloomberg Barclays Municipal Index
0.08% 1.13% 2.13% 3.52% 4.88% -
Gross Expense Ratio: 1.05% | Net Expense Ratio: 0.97%

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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Year Rochester® Fund Municipals Bloomberg Barclays Municipal Index
1987 3.70% -
1988 13.72% -
1989 8.68% -
1990 7.33% -
1991 12.79% -
1992 11.20% 8.82%
1993 14.60% 12.28%
1994 -8.35% -5.17%
1995 18.61% 17.46%
1996 5.37% 4.43%
1997 10.20% 9.19%
1998 6.52% 6.48%
1999 -5.51% -2.06%
2000 11.93% 11.68%
2001 5.14% 5.13%
2002 5.46% 9.60%
2003 8.12% 5.31%
2004 7.25% 4.48%
2005 8.76% 3.51%
2006 8.33% 4.84%
2007 -1.59% 3.36%
2008 -30.84% -2.47%
2009 45.07% 12.91%
2010 3.63% 2.38%
2011 11.50% 10.70%
2012 12.94% 6.78%
2013 -10.84% -2.55%
2014 14.43% 9.05%
2015 1.94% 3.30%
2016 6.06% 0.25%
2017 4.11% 5.45%

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 4.75% maximum sales charge where indicated. 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
11/30/2008 0.00 0.00 0.00
12/31/2008 -6.32 1.46 3.73
1/31/2009 2.12 5.17 2.82
2/28/2009 5.26 5.72 2.43
3/31/2009 3.47 5.74 3.85
4/30/2009 9.99 7.86 4.35
5/31/2009 17.88 9.00 5.10
6/30/2009 15.70 7.98 5.70
7/31/2009 17.60 9.78 7.41
8/31/2009 25.56 11.66 8.52
9/30/2009 39.68 15.67 9.66
10/31/2009 34.66 13.24 10.20
11/30/2009 34.64 14.17 11.63
12/31/2009 36.00 14.56 9.88
1/31/2010 37.69 15.16 11.56
2/28/2010 39.97 16.27 11.98
3/31/2010 41.68 15.99 11.84
4/30/2010 44.57 17.40 13.01
5/31/2010 46.39 18.28 13.96
6/30/2010 45.09 18.35 15.74
7/31/2010 47.23 19.83 16.98
8/31/2010 51.89 22.57 18.48
9/30/2010 52.92 22.38 18.61
10/31/2010 53.62 22.04 19.03
11/30/2010 46.55 19.60 18.35
12/31/2010 41.23 17.28 17.07
1/31/2011 37.18 16.42 17.21
2/28/2011 38.61 18.27 17.50
3/31/2011 37.29 17.88 17.57
4/30/2011 40.15 19.99 19.06
5/31/2011 44.21 22.04 20.61
6/30/2011 47.30 22.47 20.26
7/31/2011 49.48 23.72 22.17
8/31/2011 50.13 25.83 23.95
9/30/2011 55.73 27.14 24.85
10/31/2011 54.24 26.66 24.99
11/30/2011 53.48 27.41 24.88
12/31/2011 57.67 29.83 26.25
1/31/2012 63.95 32.84 27.36
2/29/2012 65.37 32.97 27.33
3/31/2012 65.98 32.10 26.63
4/30/2012 68.57 33.63 28.04
5/31/2012 70.57 34.74 29.20
6/30/2012 70.56 34.59 29.25
7/31/2012 73.88 36.73 31.03
8/31/2012 74.65 36.88 31.11
9/30/2012 75.38 37.71 31.29
10/31/2012 76.81 38.10 31.55
11/30/2012 80.72 40.37 31.76
12/31/2012 78.32 38.64 31.57
1/31/2013 81.65 39.21 30.65
2/28/2013 82.87 39.64 31.31
3/31/2013 81.03 39.03 31.41
4/30/2013 84.16 40.56 32.74
5/31/2013 83.52 38.84 30.37
6/30/2013 73.59 34.91 28.36
7/31/2013 67.47 33.73 28.53
8/31/2013 58.77 31.82 27.88
9/30/2013 62.15 34.66 29.09
10/31/2013 64.17 35.72 30.13
11/30/2013 62.54 35.44 29.64
12/31/2013 59.21 35.10 28.91
1/31/2014 64.38 37.73 30.81
2/28/2014 69.44 39.34 31.51
3/31/2014 69.61 39.58 31.29
4/30/2014 71.12 41.26 32.39
5/31/2014 76.45 43.07 33.90
6/30/2014 73.86 43.20 33.97
7/31/2014 73.24 43.45 33.63
8/31/2014 78.78 45.19 35.11
9/30/2014 79.48 45.34 34.19
10/31/2014 79.73 46.33 35.51
11/30/2014 81.02 46.59 36.47
12/31/2014 82.45 47.32 36.60
1/31/2015 86.23 49.94 39.47
2/28/2015 86.15 48.39 38.15
3/31/2015 85.89 48.82 38.80
4/30/2015 84.71 48.04 38.30
5/31/2015 86.74 47.63 37.96
6/30/2015 80.42 47.49 36.46
7/31/2015 81.17 48.56 37.41
8/31/2015 82.32 48.85 37.21
9/30/2015 84.84 49.93 38.14
10/31/2015 85.92 50.53 38.16
11/30/2015 86.54 51.13 37.80
12/31/2015 86.26 52.19 37.35
1/31/2016 87.72 54.00 39.24
2/29/2016 89.02 54.25 40.23
3/31/2016 90.08 54.73 41.52
4/30/2016 91.11 55.87 42.06
5/31/2016 93.53 56.29 42.10
6/30/2016 101.58 58.78 44.65
7/31/2016 102.75 58.88 45.56
8/31/2016 103.50 59.09 45.40
9/30/2016 105.27 58.30 45.31
10/31/2016 103.67 56.64 44.20
11/30/2016 96.56 50.80 40.79
12/31/2016 97.84 52.57 40.99
1/31/2017 100.33 53.57 41.26
2/28/2017 102.67 54.64 42.21
3/31/2017 104.03 54.97 42.14
4/30/2017 108.70 56.10 43.24
5/31/2017 110.76 58.58 44.34
6/30/2017 110.82 58.01 44.19
7/31/2017 111.03 59.29 44.81
8/31/2017 112.86 60.50 46.11
9/30/2017 109.67 59.68 45.42
10/31/2017 106.57 60.07 45.50
11/30/2017 104.61 59.21 45.31
12/31/2017 106.56 60.88 45.98
1/31/2018 106.45 58.98 44.30
2/28/2018 107.66 58.51 42.93
3/31/2018 113.11 59.09 43.85
4/30/2018 115.24 58.53 42.78
5/31/2018 121.53 60.34 43.80
6/30/2018 123.84 60.48 43.62
7/31/2018 124.40 60.87 43.66
8/31/2018 128.63 61.28 44.58
9/30/2018 127.31 60.24 43.65
10/31/2018 123.50 59.25 42.51
11/30/2018 123.50 61.01 43.36
Date Dividends
12/30/2008 0.074
1/27/2009 0.074
2/24/2009 0.074
3/24/2009 0.075
4/21/2009 0.075
5/26/2009 0.075
6/23/2009 0.075
7/28/2009 0.075
8/25/2009 0.075
9/22/2009 0.076
10/27/2009 0.076
11/24/2009 0.076
12/30/2009 0.079
1/26/2010 0.079
2/23/2010 0.079
3/23/2010 0.079
4/27/2010 0.081
5/25/2010 0.081
6/22/2010 0.081
7/27/2010 0.081
8/24/2010 0.081
9/21/2010 0.081
10/26/2010 0.082
11/23/2010 0.082
12/30/2010 0.082
1/25/2011 0.082
2/22/2011 0.082
3/22/2011 0.082
4/26/2011 0.132
5/24/2011 0.082
6/21/2011 0.082
7/26/2011 0.082
8/23/2011 0.082
9/27/2011 0.082
10/25/2011 0.082
11/22/2011 0.082
12/29/2011 0.082
1/24/2012 0.083
2/21/2012 0.083
3/27/2012 0.083
4/24/2012 0.083
5/22/2012 0.083
6/26/2012 0.083
7/24/2012 0.083
8/28/2012 0.082
9/25/2012 0.082
10/23/2012 0.082
11/27/2012 0.082
12/28/2012 0.08
1/22/2013 0.08
2/19/2013 0.08
3/26/2013 0.08
4/23/2013 0.08
5/28/2013 0.08
6/25/2013 0.08
7/23/2013 0.078
8/27/2013 0.078
9/24/2013 0.078
10/22/2013 0.078
11/26/2013 0.079
12/30/2013 0.079
1/28/2014 0.079
2/25/2014 0.079
3/25/2014 0.08
4/22/2014 0.08
5/27/2014 0.08
6/24/2014 0.08
7/22/2014 0.08
8/26/2014 0.08
9/23/2014 0.08
10/28/2014 0.08
11/25/2014 0.081
12/31/2014 0.081
1/27/2015 0.081
2/24/2015 0.081
3/24/2015 0.081
4/21/2015 0.081
5/26/2015 0.081
6/23/2015 0.081
7/28/2015 0.081
8/25/2015 0.079
9/22/2015 0.079
10/27/2015 0.079
11/24/2015 0.079
12/31/2015 0.079
1/26/2016 0.079
2/23/2016 0.077
3/22/2016 0.077
4/26/2016 0.077
5/24/2016 0.077
6/21/2016 0.074
7/26/2016 0.074
8/23/2016 0.071
9/27/2016 0.071
10/25/2016 0.071
11/22/2016 0.067
12/30/2016 0.067
1/24/2017 0.067
2/21/2017 0.064
3/28/2017 0.064
4/25/2017 0.064
5/23/2017 0.064
6/27/2017 0.06
7/25/2017 0.056
8/22/2017 0.056
9/26/2017 0.056
10/24/2017 0.05
11/21/2017 0.05
12/29/2017 0.046
1/23/2018 0.046
2/20/2018 0.046
3/27/2018 0.043
4/24/2018 0.043
5/22/2018 0.043
6/26/2018 0.043
7/24/2018 0.043
8/28/2018 0.043
9/25/2018 0.043
10/23/2018 0.043
11/27/2018 0.043

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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 12/17/2018

Date 2013 2014 2015 2016 2017
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

(108.8% of assets as of 11/30/2018)


Portfolio Holdings Breakdown

Asset Allocation
State
Credit Rating Allocation 8
Asset Allocation Rochester® Fund Municipals Bloomberg Barclays Municipal Index Overweight / Underweight
Municipal 112.7% 100.0% 12.7%
Equity 0.1% - -
State Rochester® Fund Municipals Bloomberg Barclays Municipal Index Overweight / Underweight
New York 91.1% 15.5% 75.6%
Puerto Rico 18.1% 0.3% 17.8%
Multistate Authority 1.8% 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 9.1% 19.4% -10.4%
AA 43.3% 56.4% -13.1%
A 16.9% 18.1% -1.3%
BBB 13.1% 4.8% 8.4%
BB 0.3% - -
B 0.6% - -
CCC 0.1% - -
CC 10.2% - -
C 1.5% - -
Unrated 17.7% 1.2% 16.4%
Other 0.1% - -
Analytics
(As of 11/30/2018)

Morningstar 11/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
66
Category
Muni New York Long
Performance Statistics
3Y
5Y
Alpha
3.76
2.40
Beta
1.00
1.14
Information Ratio
1.13
0.77
R-Squared
49.63
47.46
Sharpe Ratio
1.02
1.11
Standard Deviation
4.80
5.10
Sortino Ratio
1.74
1.95
Tracking Error
3.41
3.73
Yields
Dividend Yield (with sales charge)
3.23%
Dividend Yield (w/o sales charge)
3.39%
Standardized Yield
3.10%
Unsubsidized Yield
3.09%
Taxable Equivalent Yield
5.78%
Interest Income 12/31/2017
Exposed to AMT
17.15%
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
11.62 yrs
6.27 yrs
Current Duration
9.20 yrs
6.50 yrs
Turnover Ratio
23%
-
Dividends
  • E
Est. Frequency
Monthly
Last Pay Date
11/27/2018
Per Share ($)
$0.0430
12-Month Distribution ($)
$0.5250
Distribution Sources
  • E
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Tools
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. 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. 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>
  16. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  17. F. 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 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
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