In this article, we're going to be discussing Oppenheimer Funds mutual funds. The correct spelling of the fund is actually one word: OppenheimerFunds. As part of this discussion, we'll start with a brief history of the company. Next, we'll talk about their fee structures and investment returns. Finally, we'll provide a short list of the top performing mutual funds at Oppenheimer.
OppenheimerFunds Family of Funds
OppenheimerFunds was originally part of Oppenheimer Management Corporation, which had two other operating subsidiaries: Oppenheimer Capital, and Oppenheimer & Company. After a series of acquisitions, OppenheimerFunds was separated from the rest of the family of companies, and has remained under a separate ownership structure since 1990.
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Since that time, they've grown to offer a diverse set of mutual funds and retirement plans. This includes offerings to investors such as Traditional IRAs and Roth IRAs. With just over $211 billion in investor assets under its control, OppenheimerFunds would not be considered a large fund family when compared to Fidelity Mutual Funds. Where Oppenheimer appears to have carved out a niche in the market is with its bond funds. Nearly 37% of the fund's assets are held in taxable bonds and municipal bond funds.
Fee Structure and Returns
According to Morningstar, the expense ratios for a mutual fund at Oppenheimer range from Average for their domestic stock (1.17%), international stock (1.21%) and taxable bond funds (1.05%) to Above Average for their municipal bond fund (1.19%). As mentioned earlier, a relatively large proportion of assets are invested in bond funds (26%) while domestic stocks (16%) and international stocks (16%) make up the balance.
The minimum investment to open an account at OppenheimerFunds is just $1,000. As was the case with American Mutual Funds, nearly all of the funds carry a load. In fact, only 47.15% of the assets held at Oppenheimer are no-load mutual funds. As of September 2019, the average return for an OppenheimerFunds mutual fund over the last five years was 6.01%.
Top Rated OppenheimerFunds Mutual Funds
Despite the fact OppenheimerFunds carries a large number of bond funds; all of the top three mutual funds are of this type. Unfortunately, all three of these funds carry a front load.
Oppenheimer International Small-Mid Company Fund A (OSMAX)
Assets: $10.9 billion
Category: Mid Growth
Specialty: Foreign
Top Three Holdings: NICE Ltd, Carl Zeiss Medtec, and OBIC Co.
Load: 5.75%
Minimum Investment: $1,000
Expense Ratio: 1.41%
5-Year Average Return: 13.49%
Oppenheimer Rochester High Yield Municipal Fund (ORNAX)
Assets: $6.3 billion
Category: High Yield Muni
Specialty: None
Top Three Holdings: Michigan TOB Settlement, California County TOB, Buckeye Ohio
Load: 4.75
Minimum Investment: $1,000
Expense Ratio: 1.13%
5-Year Average Return: 8.47%
Oppenheimer Global Opportunities Fund A (ORGIX)
Assets: $9.7 billion
Category: Mid Growth
Specialty: World Stocks
Top Three Holdings: Nektar Therapeutics, Advanced Micro Devices, Coherent Inc.
Load: 5.75% (front end)
Minimum Investment: $1,000
Expense Ratio: 1.17%
5-Year Average Return: 16.36%
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