XML 12 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return, Heading rr_RiskReturnHeading

Oppenheimer Large Cap Revenue ETF
Investment Objective, Heading rr_ObjectiveHeading

Investment Objective
Investment Objective, Primary rr_ObjectivePrimaryTextBlock

Oppenheimer Large Cap Revenue ETF (the “Fund”) seeks to outperform the total return performance of the S&P 500® Index, the Fund’s benchmark index (the “Benchmark Index”).
Expense, Heading rr_ExpenseHeading

Fees and Expenses
Expense, Narrative rr_ExpenseNarrativeTextBlock

The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund (“Shares”). You may also incur customary brokerage charges when buying or selling Fund Shares.
Operating Expenses, Caption rr_OperatingExpensesCaption

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

December 2, 2017
Portfolio Turnover, Heading rr_PortfolioTurnoverHeading

Portfolio Turnover
Portfolio Turnover rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities or other instruments. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 14.13% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 14.13%
Expense Exchange Traded Fund Commissions rr_ExpenseExchangeTradedFundCommissions

You may also incur customary brokerage charges when buying or selling Fund Shares.
Expenses Restated to Reflect Current rr_ExpensesRestatedToReflectCurrent

Expenses have been restated to reflect current fees.
Expense Example, Narrative rr_ExpenseExampleNarrativeTextBlock

The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of the Shares at the end of those periods. This example assumes that the Fund provides a return of 5% a year and that operating expenses remain the same, except that the Fund’s expenses are reduced through December 2, 2017 by the fee waiver and expense reimbursement agreement described above. This example does not include the brokerage commission that you may pay to buy and sell exchange-traded Shares of the Fund. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Investment Strategy, Heading rr_StrategyHeading

Principal Investment Strategies
Investment Strategy, Narrative rr_StrategyNarrativeTextBlock

The Fund is an exchange-traded fund (“ETF”). The Fund seeks to achieve its investment objective by attempting to replicate the portfolio of the OFI Revenue Weighted Large Cap Index™ (the “Underlying Index”). The Underlying Index is constructed by re-weighting the constituent securities of the Benchmark Index according to the revenue earned by the companies in the Benchmark Index, subject to certain asset diversification requirements. The Underlying Index is rebalanced quarterly according to revenue weightings as of the previous quarter. The Underlying Index thus contains the same securities as the Benchmark Index, but in different proportions.

 

Under normal circumstances, the Fund will invest at least 80% of its net assets in the securities of large capitalization companies included in the Benchmark Index, and generally expects to be substantially invested at such times, with at least 95% of its net assets invested in these securities. The Fund defines large capitalization companies as companies that are included in the Benchmark Index at the time of purchase.

 

The Fund’s intention is to replicate the constituent securities of the Underlying Index as closely as possible. When a replication strategy could have adverse consequences to Fund shareholders, however, the Fund may utilize a “representative sampling” strategy whereby the Fund would hold a significant number of the component securities of the Underlying Index, but may not track that index with the same degree of accuracy as would an investment vehicle replicating the entire index. The Fund does not seek temporary defensive positions when equity markets decline or appear to be overvalued.
Strategy Portfolio Concentration rr_StrategyPortfolioConcentration

Under normal circumstances, the Fund will invest at least 80% of its net assets in the securities of large capitalization companies included in the Benchmark Index, and generally expects to be substantially invested at such times, with at least 95% of its net assets invested in these securities. The Fund defines large capitalization companies as companies that are included in the Benchmark Index at the time of purchase.
Risk, Heading rr_RiskHeading

Principal Risks
Risk, Narrative rr_RiskNarrativeTextBlock

Like all investments, investing in the Fund entails risks, including the risk that you may lose part or all of the money you invest.

 

Investment Approach Risk The alternate weighting approach employed by the Underlying Index and the Fund, while designed to enhance potential returns compared to the Benchmark Index, may not produce the desired results. Using revenues as a weighting measure is no guarantee that the Underlying Index or the Fund will outperform the Benchmark Index, and may even cause the Underlying Index or the Fund to underperform the Benchmark Index.

 

Stock Market Risk Stock market risk is the risk that broad movements in financial markets will adversely affect the price of the Fund’s investments, regardless of how well the companies in which the Fund invests perform. There is also a risk that the price of one or more of the securities or other instruments in the Fund’s portfolio will fall.

 

Market Trading Risk An investment in the Shares may present secondary market trading risks, including the inability to sell your Shares in the event of a severe market disruption, or the inability to buy and sell Shares at a price that reflects the actual value of the Fund’s portfolio. Although it is expected that Shares will remain listed for trading on the NYSE Arca, Inc. (the “Exchange”), disruptions to creations and redemptions, the existence of market volatility or lack of an active trading market for the Shares (including through a trading halt), as well as other factors, may result in the Shares trading significantly above (at a premium to) or below (at a discount to) the Fund’s net asset value (“NAV”) (calculated at the end of the day), or the intraday value of the Fund’s published basket of portfolio securities (i.e., the “intraday indicative value” or “IIV”). During such periods, you may be unable to sell your Shares or may incur significant losses if you sell your Shares.

 

Non-Correlation Risk The Fund’s return may not match the return of the Underlying Index for a number of reasons. For example, the Fund incurs a number of operating expenses, while the Underlying Index does not. Tracking error may also occur because of differences between the securities or other instruments held in the Fund’s portfolio and those included in the Underlying Index, pricing differences, transaction costs, the Fund’s holding of uninvested cash, differences in the timing of the accrual of dividends or interest, tax gains or losses, changes to the Underlying Index, or the need to meet various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions.

 

Portfolio Turnover Risk Because the Fund is rebalanced quarterly, the Fund may experience portfolio turnover in excess of 100%. Portfolio turnover may involve the payment by the Fund of brokerage and other transaction costs on the sale of securities, as well as on the investment of the proceeds in other securities. The greater the portfolio turnover, the greater the transaction costs to the Fund, which could have an adverse effect on the Fund’s total rate of return, and the more likely the Fund is to generate capital gains that must be distributed to shareholders as taxable income.

 

Authorized Participant Concentration Risk Only an authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of intermediaries that act as authorized participants and none of these authorized participants is or will be obligated to engage in creation or redemption transactions. To the extent that these intermediaries exit the business or are unable to or choose not to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant is able to step forward to create or redeem Shares may trade at a discount to NAV or IIV, and the Fund may possibly face delisting.
Risk, Lose Money rr_RiskLoseMoney

Like all investments, investing in the Fund entails risks, including the risk that you may lose part or all of the money you invest.
Bar Chart and Performance Table, Heading rr_BarChartAndPerformanceTableHeading

Performance
Performance, Narrative rr_PerformanceNarrativeTextBlock

The performance information that follows shows the Fund’s performance information in a bar chart and an average annual total returns table. The information provides some indication of the risks of investing in the Fund by comparing the Fund’s performance with a broad measure of market performance and the index the Fund seeks to track. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance for the Fund is available at https://www.revenueshares.com.

 

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold Shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance, Information Illustrates Variability of Returns rr_PerformanceInformationIllustratesVariabilityOfReturns

The performance information that follows shows the Fund’s performance information in a bar chart and an average annual total returns table. The information provides some indication of the risks of investing in the Fund by comparing the Fund’s performance with a broad measure of market performance and the index the Fund seeks to track.
Performance Availability Website Address rr_PerformanceAvailabilityWebSiteAddress

www.revenueshares.com.
Performance Past Does Not Indicate Future rr_PerformancePastDoesNotIndicateFuture

The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart, Heading rr_BarChartHeading

Annual Total Returns as of December 31
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

During the periods shown in the bar chart above, the Fund’s highest quarterly return was 18.95% (quarter ended June 30, 2009) and the Fund’s lowest quarterly return was -15.87% (quarter ended September 30, 2011).

 

Year-to-date return (through September 30, 2016): 6.74%
Year to Date Return, Label rr_YearToDateReturnLabel

Year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2016
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.74%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.95%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

lowest quarterly return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (15.87%)
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns for the Periods Ended December 31, 2015
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred

In addition, the after-tax returns shown are not relevant to investors who hold Shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF | S&P 500® Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 1.35%
5 Year rr_AverageAnnualReturnYear05 12.55%
Since Inception rr_AverageAnnualReturnSinceInception 7.80%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 21, 2008
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF | OFI Revenue Weighted Large Cap Index™ (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (1.12%)
5 Year rr_AverageAnnualReturnYear05 13.32%
Since Inception rr_AverageAnnualReturnSinceInception 8.33%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 21, 2008
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF | Oppenheimer Large Cap Revenue ETF  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.39% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.16% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.55% [1]
Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.16%) [1],[2]
Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.39% [1]
1 Year rr_ExpenseExampleYear01 $ 40
3 Years rr_ExpenseExampleYear03 153
5 Years rr_ExpenseExampleYear05 284
10 Years rr_ExpenseExampleYear10 $ 667
Annual Return 2009 rr_AnnualReturn2009 30.18%
Annual Return 2010 rr_AnnualReturn2010 16.93%
Annual Return 2011 rr_AnnualReturn2011 0.38%
Annual Return 2012 rr_AnnualReturn2012 18.08%
Annual Return 2013 rr_AnnualReturn2013 37.68%
Annual Return 2014 rr_AnnualReturn2014 13.35%
Annual Return 2015 rr_AnnualReturn2015 (1.21%)
1 Year rr_AverageAnnualReturnYear01 (1.21%)
5 Year rr_AverageAnnualReturnYear05 12.82%
Since Inception rr_AverageAnnualReturnSinceInception 7.75%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 21, 2008
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF | Oppenheimer Large Cap Revenue ETF | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (2.02%)
5 Year rr_AverageAnnualReturnYear05 12.02%
Since Inception rr_AverageAnnualReturnSinceInception 7.07%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 21, 2008
Oppenheimer Revenue Weighted ETF Trust Fund | Oppenheimer Large Cap Revenue ETF | Oppenheimer Large Cap Revenue ETF | After Taxes on Distributions and Sales  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (0.67%)
5 Year rr_AverageAnnualReturnYear05 9.86%
Since Inception rr_AverageAnnualReturnSinceInception 5.86%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 21, 2008
[1] Expenses have been restated to reflect current fees.
[2] Oppenheimer Revenue Weighted ETF Trust (the "Trust") and VTL Associates, LLC, the Fund's investment adviser, ("VTL" or "Management") have entered into a written fee waiver and expense reimbursement agreement pursuant to which VTL has agreed to waive a portion of its fees and/or reimburse expenses to the extent necessary to keep the Fund's Total Annual Fund Operating Expenses (excluding any acquired fund fees and expenses, taxes, interest, brokerage fees, certain insurance costs, and extraordinary and other non-routine expenses) from exceeding 0.39% of average daily net assets. This agreement will remain in effect and will be contractually binding through December 2, 2017, unless approved by the Board. If Total Annual Fund Operating Expenses would fall below the expense limit, VTL may cause the Fund's expenses to remain at the expense limit while it is reimbursed for fees that it waived or expenses that it reimbursed during the previous three year period. The amount of any recoupment will not exceed any current expense cap or an expense cap that existed during the period for which expenses were recouped.