The information provided is not a complete analysis of every material fact relating to any market, industry or investment. The data has been obtained from sources considered reliable, but Dodge & Cox makes no representations about the completeness or accuracy of this information. The information provided is historical and does not predict future results or profitability. This is not a recommendation to buy, sell or hold any security and is not an indication of current or future trading activity of Dodge & Cox. Any identified securities are subject to change without notice and do not represent the entire holdings of the Fund. Dodge & Cox does not guarantee the future performance of any account (including Dodge & Cox Funds) or any specific level of performance, the success of any investment decision or strategy that Dodge & Cox may use, or the success of Dodge & Cox’s overall management. from account.
The Fund invests in individual bonds and other securities whose yields and market value fluctuate such that your investment may be worth more or less than its original cost. The Fund’s performance can be affected by interest rate risk, credit risk, below-investment grade securities risk, mortgage and asset-backed securities risk, transaction risk to be announced, non-U.S. investment risk, liquidity risk, and financial derivatives risk. Call risk, sovereign and government debt risk, manager risk, market risk, and hybrid securities risk. The Fund may use derivatives to create or hedge investment risks, which may involve additional and/or greater risks than investing in securities, including greater liquidity risk and counterparty default risk. Some derivatives create leverage.
Before investing in any Dodge & Cox Fund, you should carefully consider the Fund’s investment objectives, risks, charges and expenses. To obtain the fund’s prospectus and summary prospectus, which contain this and other important information, or for current month-end performance numbers, visit Investment Focus | Dodge & Cox or call 800-621-3979. Please read the prospectus and prospectus summary carefully before investing.
Dodge & Cox funds are distributed by Foreside Fund Services, LLC, which is not affiliated with Dodge & Cox.
1All returns are stated in US dollars, unless otherwise noted. The Fund’s total returns include the reinvestment of dividends and capital gains, but are not adjusted for any income taxes payable by shareholders on such distributions or on the redemption of Fund shares. Index returns include dividends and/or interest income but, unlike fund returns, do not reflect fees or expenses. The inception date for Class X shares is May 2, 2022. Returns shown before that date are for Class I shares. The Bloomberg U.S. Aggregate Bond Index is a widely recognized, non-custodial index of U.S. dollar-denominated, taxable fixed-income securities.
2Duration is a measure of the sensitivity of the price of a bond (or bond portfolio) to changes in interest rates.
3Returns as calculated and reported by Bloomberg.
4The Bloomberg US Credit Index measures the investment grade, US dollar-denominated, fixed-rate, taxable corporate, and government-related bond markets. It consists of an index of US companies and a non-corporate component that includes non-US agencies, sovereigns, supranational corporations, and local authorities.
5The use of specific examples does not imply that they represent more or less attractive investments than other Fund holdings.
6Credit refers to corporate bonds and government-related securities, as classified by Bloomberg, as well as the Rio Oil Finance Trust, which is an asset-backed security that we group as a credit investment.
7The U.S. Government does not guarantee the Fund’s shares, returns, or net asset value. An agency guarantee (eg by Ginnie Mae, Fannie Mae, or Freddie Mac) does not eliminate market risk.
8Figures in this section refer to locations as of March 31, 2024.
