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OSPSX Oppenheimer SteelPath MLP Select 40 I

  • Fund
  • OSPSX
  • Price as of: Mar 22, 2019
  • $7.94
  • - $0.10
  • - 1.24%
  • Category
  • MLPs

OSPSX - Profile

Vitals

  • YTD Return 9.4%
  • 3 Yr Annualized Return -3.2%
  • 5 Yr Annualized Return -8.5%
  • Net Assets $3.28 B
  • Holdings in Top 10 53.9%

52 WEEK LOW AND HIGH

$7.94
$6.91
$8.85

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.81%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 24.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$0

Investment Themes

CATEGORY

MLPs
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Distributions

  • YTD Total Return 9.4%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -5.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.55%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Oppenheimer SteelPath MLP Select 40 Fund
  • Fund Family Name OppenheimerFunds
  • Inception Date Jun 28, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Brian D. Watson

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in master limited partnership ("MLP") investments of issuers that are engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources.

OSPSX - Performance

Return Ranking - Trailing

Period OSPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 9.4% -32.1% 27.1% 76.39% 5
1 Yr 2.5% -69.5% 10.2% 54.17% 3
3 Yr -3.2% * -28.3% 14.1% 67.14% 4
5 Yr -8.5% * -22.1% -1.1% 31.25% 2
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Return Ranking - Calendar

Period OSPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -16.8% -57.5% 110.3% 14.29% 1
2017 -10.6% -25.3% 54.6% 33.33% 2
2016 6.2% -36.6% 39.2% 78.26% 5
2015 -25.7% -57.7% 8.5% 8.70% 1
2014 1.0% -4.8% 10.5% 68.25% 4

Total Return Ranking - Trailing

Period OSPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 9.4% -32.1% 27.1% 76.39% 5
1 Yr 2.5% -69.5% 10.2% 52.78% 3
3 Yr -1.4% * -28.3% 14.1% 74.29% 4
5 Yr -5.5% * -20.2% -1.1% 18.75% 1
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Total Return Ranking - Calendar

Period OSPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -16.8% -57.5% 110.3% 14.29% 1
2017 -10.6% -25.3% 54.6% 33.33% 2
2016 14.2% -33.5% 43.1% 79.71% 5
2015 -22.5% -57.2% 13.5% 8.70% 1
2014 8.1% 2.9% 23.1% 68.25% 4

NAV & Total Return History

OSPSX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

OSPSX Category Low Category High OSPSX % Rank Quintile
Net Assets 3.28 B 329 K 4.19 B 2.78% 1
Number of Holdings 41 16 58 6.94% 2
Net Assets in Top 10 1.56 B 240 K 2.61 B 4.17% 1
Weighting of Top 10 53.9% 37.5% 112.2% 29.17% 5

Top 10 Holdings

  1. Holly Energy Partners LP 4.88%
  2. MPLX LP Partnership Units 4.47%
  3. Energy Transfer LP 8.80%
  4. Tallgrass Energy LP A 7.10%
  5. Enterprise Products Partners LP 4.86%
  6. Genesis Energy LP 4.69%
  7. TC Pipelines LP 5.77%
  8. Buckeye Partners LP 4.80%
  9. Western Gas Partners, LP 4.44%
  10. Sunoco LP 4.12%

Asset Allocation

Weighting Category Low Category High OSPSX % Rank Quintile
Stocks
95.26% 62.61% 132.36% 23.61% 4
Preferred Stocks
2.78% 0.00% 2.78% 1.39% 1
Other
1.96% -35.31% 4.40% 5.56% 1
Convertible Bonds
0.00% 0.00% 0.05% 2.78% 2
Cash
0.00% -24.95% 27.88% 23.61% 4
Bonds
0.00% 0.00% 21.36% 6.94% 2

Stock Sector Breakdown

Weighting Category Low Category High OSPSX % Rank Quintile
Energy
90.90% 3.33% 128.15% 22.22% 4
Basic Materials
3.01% 0.00% 4.22% 4.17% 1
Industrials
1.34% 0.00% 7.58% 11.11% 2
Utilities
0.00% 0.00% 4.10% 20.83% 4
Technology
0.00% 0.00% 11.74% 2.78% 2
Real Estate
0.00% 0.00% 3.41% 2.78% 2
Healthcare
0.00% 0.00% 8.87% 2.78% 2
Financial Services
0.00% 0.00% 11.25% 2.78% 2
Communication Services
0.00% 0.00% 0.98% 2.78% 2
Consumer Defense
0.00% 0.00% 3.59% 2.78% 2
Consumer Cyclical
0.00% 0.00% 7.11% 2.78% 2

Stock Geographic Breakdown

Weighting Category Low Category High OSPSX % Rank Quintile
US
93.79% 55.02% 132.36% 16.67% 3
Non US
1.47% 0.00% 24.03% 22.22% 4

OSPSX - Expenses

Operational Fees

OSPSX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.81% 0.81% 7.62% 84.72% 1
Management Fee 0.70% 0.70% 1.25% 15.28% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.03% 0.20% N/A N/A

Sales Fees

OSPSX Fees (% of AUM) Category Low Category High OSPSX Rank Quintile
Front Load N/A 4.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 1.00% N/A N/A

Trading Fees

OSPSX Fees (% of AUM) Category Low Category High OSPSX Rank Quintile
Max Redemption Fee N/A 2.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

OSPSX Fees (% of AUM) Category Low Category High OSPSX Rank Quintile
Turnover 24.00% 0.00% 75.00% 26.39% 1

OSPSX - Distributions

Dividend Yield Analysis

OSPSX Category Low Category High OSPSX % Rank Quintile
Dividend Yield 0.7% 0.04% 1.69% 6.94% 1

Dividend Distribution Analysis

OSPSX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

OSPSX Category Low Category High OSPSX % Rank Quintile
Net Income Ratio -0.55% -7.28% 8.30% 45.83% 3

Capital Gain Distribution Analysis

OSPSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Annually Annually

OSPSX - Managers

Brian D. Watson

Manager

Start Date

Mar 31, 2010

Tenure

8.92

Tenure Rank

0.5%

Brian Watson serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Panoramic and Focused MLP strategies. Prior to joining SteelPath in 2009, Brian was a portfolio manager and led the MLP research effort at Swank Capital LLC, in Dallas, Texas. He also covered the MLP and Diversified Energy sectors for RBC Capital Markets in the firm’s Equity Research Division from 2002 to 2005. Prior to this, Brian worked for Prudential Capital Group, helping to analyze, structure, and invest in debt private placements issued primarily by companies involved in the energy industry including those involved in oil field services, midstream services, and oil and gas exploration and production. Brian holds a BBA from the University of Texas at Austin and an MBA from the McCombs School of Business at the University of Texas at Austin. He is also a CFA charter holder.


Stuart Cartner

Manager

Start Date

Mar 31, 2010

Tenure

8.92

Tenure Rank

0.5%

Stuart Cartner serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Focused MLP, and MLP & Energy Infrastructure strategies. Prior to joining SteelPath, Stuart was Vice President in the Private Wealth Management Division of Goldman, Sachs & Co. As a Private Wealth Advisor for nineteen years at Goldman, he was responsible for managing a $200 million portfolio of midstream Master Limited Partnerships for over a decade. Prior to his time at Goldman, Stuart worked at Trammell Crow Company and General Electric. Stuart holds a B.S. in Finance and Management from Indiana University and an MBA in Finance and Marketing with Distinction from the Kellogg Graduate School of Management, Northwestern University.


Tenure Analysis

Category Low

1.1

Category High

8.9

Category Average

5.96

Category Mode

4.2