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ORNCX Oppenheimer Rochester® High Yld Muni C

  • Fund
  • ORNCX
  • Price as of: May 23, 2019
  • $7.67 + $0.01 + 0.13%
  • Category
  • High Yield Municipal Bonds

ORNCX - Profile

Vitals

  • YTD Return 5.9%
  • 3 Yr Annualized Return 2.4%
  • 5 Yr Annualized Return 1.5%
  • Net Assets $6.8 B
  • Holdings in Top 10 10.8%

52 WEEK LOW AND HIGH

$7.67
$7.16
$7.67

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.69%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 34.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 5.9%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.29%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Oppenheimer Rochester® High Yield Municipal Fund
  • Fund Family Name OppenheimerFunds
  • Inception Date Aug 29, 1995
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Scott S. Cottier

Fund Description

Under normal market conditions, and as a fundamental policy, the fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities the income from which, in the opinion of counsel to the issuer of each security, is exempt from regular federal individual and, as applicable, the fund's state income tax. It invests in municipal securities issued by the governments of states, their political subdivisions and the District of Columbia, U.S. territories, commonwealths and possessions or by their agencies, instrumentalities and authorities.

ORNCX - Performance

Return Ranking - Trailing

Period ORNCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% 1.2% 5.8% 0.79%
1 Yr 6.1% -0.6% 6.4% 0.79%
3 Yr 2.4%* -1.9% 2.5% 1.64%
5 Yr 1.5%* -0.4% 13.3% 13.22%
10 Yr 2.2%* 0.8% 6.4% 25.00%

* Annualized


Return Ranking - Calendar

Period ORNCX Return Category Return Low Category Return High Rank in Category (%)
2018 4.0% -5.6% 4.2% 1.60%
2017 1.0% 0.0% 8.6% 94.40%
2016 -1.4% -6.7% -1.2% 5.74%
2015 -2.0% -2.0% 2.9% 100.00%
2014 8.2% 3.6% 83.0% 71.19%

Total Return Ranking - Trailing

Period ORNCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% 1.2% 5.9% 2.36%
1 Yr 6.1% -0.6% 7.4% 2.36%
3 Yr 2.4%* -1.9% 3.6% 7.38%
5 Yr 1.5%* -0.4% 13.3% 20.66%
10 Yr 2.2%* 0.8% 7.3% 31.25%

* Annualized


Total Return Ranking - Calendar

Period ORNCX Return Category Return Low Category Return High Rank in Category (%)
2018 4.0% -3.7% 4.2% 1.60%
2017 1.0% 0.0% 9.8% 94.40%
2016 -1.4% -4.6% 0.8% 11.48%
2015 -2.0% -2.0% 5.3% 100.00%
2014 8.2% 3.6% 83.0% 71.19%

NAV & Total Return History

ORNCX - Holdings

Concentration Analysis

ORNCX Category Low Category High ORNCX % Rank
Net Assets 6.8 B 45.7 M 18.9 B 11.81%
Number of Holdings 1353 42 3288 21.26%
Net Assets in Top 10 717 M 4.84 M 2.07 B 8.66%
Weighting of Top 10 10.75% 4.3% 39.1% 62.99%

Top 10 Holdings

  1. CHILDRENS TR FD P R TOB SETTLEMENT REV 5.62% 1.41%

  2. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.88% 1.29%

  3. MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET BACKED REV 0% 1.18%

  4. CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY TOB SETTLEMENT REV 0% 1.11%

  5. PUBLIC FIN AUTH WIS LTD OBLIG GRNT REV 6.75% 1.07%

  6. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 6.5% 1.05%

  7. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 6.25% 0.95%

  8. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV 6.25% 0.95%

  9. JEFFERSON CNTY ALA SWR REV 6.5% 0.94%

  10. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 0.80%


Asset Allocation

Weighting Return Low Return High ORNCX % Rank
Bonds
99.53% 81.91% 103.81% 44.09%
Cash
0.46% -3.81% 18.09% 58.27%
Stocks
0.01% 0.00% 0.53% 7.09%
Preferred Stocks
0.00% 0.00% 0.39% 93.70%
Other
0.00% -1.58% 1.29% 92.13%
Convertible Bonds
0.00% 0.00% 0.00% 93.70%

Stock Sector Breakdown

Weighting Return Low Return High ORNCX % Rank
Industrials
0.01% 0.00% 0.52% 26.32%
Utilities
0.00% 0.00% 0.00% 89.47%
Technology
0.00% 0.00% 0.00% 89.47%
Real Estate
0.00% 0.00% 0.00% 89.47%
Healthcare
0.00% 0.00% 0.00% 89.47%
Financial Services
0.00% 0.00% 0.00% 89.47%
Energy
0.00% 0.00% 0.72% 92.11%
Communication Services
0.00% 0.00% 0.00% 89.47%
Consumer Defense
0.00% 0.00% 0.00% 89.47%
Consumer Cyclical
0.00% 0.00% 0.00% 89.47%
Basic Materials
0.00% 0.00% 0.00% 89.47%

Stock Geographic Breakdown

Weighting Return Low Return High ORNCX % Rank
US
0.01% 0.00% 0.53% 7.09%
Non US
0.00% 0.00% 0.00% 93.70%

Bond Sector Breakdown

Weighting Return Low Return High ORNCX % Rank
Municipal
99.34% 91.17% 103.16% 46.46%
Cash & Equivalents
0.56% -3.28% 18.09% 50.39%
Corporate
0.10% 0.00% 2.59% 25.98%
Derivative
0.00% -0.12% 0.06% 91.34%
Securitized
0.00% 0.00% 0.02% 93.70%
Government
0.00% -10.34% 4.74% 77.95%

Bond Geographic Breakdown

Weighting Return Low Return High ORNCX % Rank
US
87.70% 77.16% 103.15% 90.55%
Non US
11.83% 0.00% 12.42% 5.51%

ORNCX - Expenses

Operational Fees

ORNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.69% 0.27% 1.85% 12.60%
Management Fee 0.37% 0.26% 0.75% 7.09%
12b-1 Fee 0.90% 0.00% 1.00% 71.88%
Administrative Fee 0.08% 0.01% 0.35% 56.82%

Sales Fees

ORNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load 1.00% 0.60% 5.50% 93.18%

Trading Fees

ORNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 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.

ORNCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 3.00% 119.00% 61.42%

ORNCX - Distributions

Dividend Yield Analysis

ORNCX Category Low Category High ORNCX % Rank
Dividend Yield 0.03% 0.01% 1.32% 51.18%

Dividend Distribution Analysis

ORNCX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

ORNCX Category Low Category High ORNCX % Rank
Net Income Ratio 4.29% 1.39% 5.43% 20.47%

Capital Gain Distribution Analysis

ORNCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

ORNCX - Managers

Scott S. Cottier

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2002

16.59

16.6%

Mr. Cottier has been a Senior Vice President of OppenheimerFunds, Inc. since January 2017 and a Senior Portfolio Manager of OppenheimerFunds, Inc. since September 2002. He was Vice President of OppenheimerFunds, Inc. from September 2002 to December 2016. Mr. Cottier is a co-team leader, a portfolio manager, an officer, and a trader for the Fund and other Oppenheimer funds. Cottier has been a vice president and a senior portfolio manager with OppenheimerFunds, Inc. He has been a vice president of OppenheimerFunds, Inc. since 2002. Prior to joining it in 2002, Cottier was a portfolio manager and trader at Victory Capital Management from 1999 to 2002.


Tenure Analysis

Category Low

0.17

Category High

30.35

Category Average

8.45

Category Mode

6.25