Fund Facts  

Inception Date: Aug 16, 1985
CUSIP: 683810105
Ticker Symbol: OUSGX
Morningstar Category:Short-Term Bond
As of Mar 31, 2018
Fund Net Assets ($millions) $1,597

Documents for Fund or Underlying Fund(s)  



The investment seeks income.

Principal Investment Strategies  

The fund invests primarily in corporate debt securities and U.S. government securities. Under normal market conditions, it will invest at least 80% of its net assets, plus borrowings for investment purposes, in debt securities (generally referred to as "bonds"). The fund can invest up to 35% of its total assets in lower-grade, high-yield debt securities that are below investment-grade (commonly referred to as "junk bonds").

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.


Performance & Expenses

Standard Performance As of Mar 31, 2018
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Oppenheimer Limited-Trm Bond Aa-0.49%-0.49%0.91%1.08%1.30%2.92%5.68%
Bloomberg Barclays U.S. 1-3 Year Agg Indexa,b-0.20%-0.20%0.25%0.68%0.78%1.69%N/A
Morningstar Short-Term Bonda,c-0.34%-0.34%0.73%1.07%1.00%2.18%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit

Fund Expensesa,d
Gross Expenses0.84%
Net Expenses0.75%


a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2018 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays U.S. Aggregate 1-3 Year Index consists of investment-grade U.S. fixed income securities with maturities of one to three years.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

d. Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.

Morningstar Information

Morningstar RatingTM   As of Mar 31, 2018
Period Stars Category Size
Overall 4 Stars455
3-Year 3 Stars455
5-Year 4 Stars393
10-Year 4 Stars255

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Mar 31, 2018
Fixed Income Stylebox
Medium Limited
Allocation of Assets As of Feb 28, 2018
Type of Asset Percent
Fixed Income98%

Due to rounding, percentages shown may not add up to 100%.



Allocation of Assets As of Feb 28, 2018
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond85.2%
Foreign Bond12.8%

Due to rounding, percentages shown may not add up to 100%.

Fixed Income Sector As of Feb 28, 2018
Cash & Equivalents2.1%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

Credit Quality As of Feb 28, 2018
Quality LevelPercent
Below B0.6%
Not Rated0.6%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

Top Ten Holdings As of Feb 28, 2018
Holding NamePercent
Government National Mortgage Association 4% MBS 15/03/2046 USD4.6%
Federal National Mortgage Association 4.5% MBS 15/03/2046 USD'TBA3.0%
Wells Fargo & Company 2.625% SNR MTN 22/07/2022 USD (SEC REGD) (Q)0.6%
Best Buy Co., Inc. 5% SNR PIDI NTS 01/08/2018 USD (SEC REGD)0.5%
Verizon Communications Inc. 2.946% SNR PIDI NTS 15/03/2022 USD (SEC REGD)0.4%
Harley Davidson Finl Svcs 144A 3.35%0.4%
Citigroup Inc. 2.9% SNR PIDI NTS 08/12/2021 USD (SEC REGD)0.4%
AT&T Inc. 3.6% SNR PIDI NTS 17/02/2023 USD (SEC REGD)0.4%
Hyundai Capital America, Inc. 3.1% SNR MTN 05/04/2022 USD (144A)0.4%


Duration and Maturity As of Feb 28, 2018
Average Effective Duration1.74 years
Average Effective MaturityN/A
Portfolio Statistics As of Mar 31, 2018
Standard Deviation1.041.17



Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing, or visiting

The source for this information is Morningstar, Inc. Copyright © 2018 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.