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DODBX Dodge & Cox Balanced

  • Fund
  • DODBX
  • Price as of: Dec 02, 2016
  • $105.48
  • - $0.26
  • - 0.25%
  • Category
  • Diversified Portfolio

DODBX - Profile

Vitals

  • YTD Return 11.7%
  • 3 Yr Annualized Return 6.5%
  • 5 Yr Annualized Return 11.8%
  • Net Assets $14.5 B
  • Holdings in Top 10 22.3%

52 WEEK LOW AND HIGH

$105.48
$85.29
$105.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.53%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 20.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--50% to 70% Equity

Distributions

  • YTD Total Return 15.2%
  • 3 Yr Annualized Total Return 6.5%
  • 5 Yr Annualized Total Return 11.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.03%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Dodge & Cox Balanced Fund
  • Fund Family Name Dodge & Cox
  • Inception Date Jun 26, 1931
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Steven C. Voorhis

Fund Description

The Dodge & Cox Balanced Fund (DODBX) is a low-cost, actively managed fund that seeks to provide current income as well as capital appreciation. As a balanced fund, DODBX invests in both equity and fixed-income securities. Under a market neutral scenario, the fund will hold no more than 75% and no less than 25% of its assets in stocks. The remainder is invested in bonds. The fund uses a round-table discussion among its stable of managers to choose stocks based on future earnings metrics, cash flows and dividends, and credit analysis to choose bonds.

Given its broad mandate and focus on both stocks and bonds, DODBX makes for a great core position. The fund is managed by Dodge & Cox Advisors.

DODBX - Performance

Return Ranking - Trailing

Period DODBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.7% -66.0% 21.5% 2.18% 1
1 Yr 6.3% -35.0% 45.9% 8.31% 1
3 Yr 6.5% * -13.6% 11.8% 3.29% 1
5 Yr 11.8% * -11.6% 13.2% 0.82% 1
10 Yr 5.6% * -5.0% 8.2% 16.38% 1

* Annualized


Return Ranking - Calendar

Period DODBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -7.9% -37.7% 48.7% 58.07% 4
2014 4.3% -59.3% 14.8% 9.43% 1
2013 25.9% -17.5% 36.4% 0.62% 1
2012 15.7% -16.2% 18.4% 0.27% 1
2011 -3.9% -30.5% 7.4% 59.29% 4

Total Return Ranking - Trailing

Period DODBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.2% -65.8% 30.1% 1.58% 1
1 Yr 6.3% -38.3% 73.2% 6.56% 1
3 Yr 6.5% * -14.6% 28.2% 3.13% 1
5 Yr 11.8% * -11.9% 13.2% 0.63% 1
10 Yr 5.6% * -5.0% 8.2% 15.66% 1

* Annualized


Total Return Ranking - Calendar

Period DODBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.1% -29.3% 50.4% 58.52% 4
2014 10.0% -54.8% 25.4% 10.21% 1
2013 34.3% -16.7% 57.2% 1.46% 1
2012 23.7% -16.2% 74.5% 2.95% 1
2011 -2.2% -25.3% 15.8% 65.92% 4

NAV & Total Return History

DODBX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

DODBX Category Low Category High DODBX % Rank Quintile
Net Assets 14.5 B 81.4 K 99.4 B 0.64% 1
Number of Holdings 378 1 12494 6.54% 2
Net Assets in Top 10 3.22 B -654 M 20.2 B 1.60% 1
Weighting of Top 10 22.3% 0.2% 272.7% 24.53% 4

Top 10 Holdings

  1. Capital One Financial Corp 2.63%
  2. Microsoft Corp 1.85%
  3. Wells Fargo & Co 2.18%
  4. Charles Schwab Corp 2.44%
  5. Bank of America Corporation 2.55%
  6. Comcast Corp Class A 1.94%
  7. Hewlett Packard Enterprise Co 2.57%
  8. Time Warner Inc 2.11%
  9. Charter Communications Inc A 2.15%
  10. Jpmorgan Chase FRN 1.86%

Asset Allocation

Weighting Category Low Category High DODBX % Rank Quintile
Stocks
68.07% -49.32% 147.79% 6.58% 1
Bonds
30.65% -41.48% 107.98% 18.14% 4
Cash
0.66% -55.49% 139.25% 26.09% 5
Preferred Stocks
0.49% -1.01% 35.22% 6.73% 2
Other
0.12% -18.85% 98.84% 17.21% 5
Convertible Bonds
0.00% 0.00% 33.12% 7.23% 5

Stock Sector Breakdown

Weighting Category Low Category High DODBX % Rank Quintile
Financial Services
18.55% -5.07% 69.58% 0.93% 1
Technology
14.57% -8.03% 70.04% 1.67% 1
Healthcare
11.23% -1.46% 29.90% 2.88% 1
Energy
6.66% -2.68% 33.46% 3.25% 1
Consumer Cyclical
6.27% -6.02% 54.37% 11.05% 2
Communication Services
5.52% -2.53% 27.16% 0.60% 1
Industrials
2.91% -4.92% 48.84% 18.85% 4
Consumer Defense
1.75% -4.74% 27.69% 17.55% 4
Basic Materials
0.61% -2.13% 21.85% 15.60% 5
Real Estate
0.00% -8.01% 48.98% 19.03% 5
Utilities
0.00% -7.18% 47.20% 14.95% 5

Stock Geographic Breakdown

Weighting Category Low Category High DODBX % Rank Quintile
US
61.81% -97.12% 142.85% 3.71% 1
Non US
6.26% -2.98% 150.26% 18.35% 4

Bond Sector Breakdown

Weighting Category Low Category High DODBX % Rank Quintile
Corporate
17.53% -20.43% 93.55% 12.36% 3
Securitized
9.25% -0.01% 40.54% 9.75% 2
Government
3.53% -91.64% 76.37% 20.96% 4
Municipal
0.83% 0.00% 91.28% 4.12% 1
Cash & Equivalents
0.66% -54.77% 138.37% 25.90% 5
Derivative
0.00% -84.53% 36.75% 2.84% 4

Bond Geographic Breakdown

Weighting Category Low Category High DODBX % Rank Quintile
US
26.63% -154.38% 94.16% 16.16% 3
Non US
4.02% -57.44% 198.64% 15.65% 3

DODBX - Expenses

Operational Fees

DODBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.53% 0.00% 165.34% 16.62% 1
Management Fee 0.50% 0.00% 2.55% 3.58% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.10% 0.00% 0.83% 1.99% 4

Sales Fees

DODBX Fees (% of AUM) Category Low Category High DODBX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

DODBX Fees (% of AUM) Category Low Category High DODBX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A 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.

DODBX Fees (% of AUM) Category Low Category High DODBX Rank Quintile
Turnover 20.00% 0.00% 5609.00% 12.69% 2

DODBX - Distributions

Dividend Yield Analysis

DODBX Category Low Category High DODBX % Rank Quintile
Dividend Yield 1.7% 0.00% 11.33% 0.43% 1

Dividend Distribution Analysis

DODBX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

DODBX Category Low Category High DODBX % Rank Quintile
Net Income Ratio 2.03% -2.96% 9.94% 10.44% 2

Capital Gain Distribution Analysis

DODBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

DODBX - Managers

Steven C. Voorhis

Manager

Start Date

May 01, 2006

Tenure

10.51

Tenure Rank

1.7%

Steven C. Voorhis, Vice President — Mr. Voorhis received his B.A. and M.A. degrees from Stanford University in 1992 and his M.B.A from the Harvard Business School in 1996. Prior to graduate school, he worked at Goldman Sachs as a financial analyst. He joined Dodge & Cox in 1996. Mr. Voorhis is a shareholder of the firm and holds the CFA designation.


Anthony J. Brekke

Manager

Start Date

May 01, 2008

Tenure

8.51

Tenure Rank

2.3%

Anthony J. Brekke, Vice President — Mr. Brekke received his B.A. degree from the University of Iowa in 1997 and his M.B.A. degree from the Haas School of Business at the University of California, Berkeley in 2003. Prior to entering the Haas School, he worked for four years as an auditor with the National Futures Association. He joined Dodge & Cox in 2003. Mr. Brekke is a shareholder of the firm and and holds the CFA designation.


Adam S. Rubinson

Manager

Start Date

Feb 15, 2010

Tenure

6.71

Tenure Rank

3.0%

Adam S. Rubinson, Vice President — Mr. Rubinson graduated from Columbia College in 1988 and received his J.D. degree from the Stanford Law School in 1991. From 1991 to 1997 he practiced corporate law at Sullivan & Cromwell. Prior to joining Dodge & Cox in 2002, he worked in the fixed income and investment banking divisions of Goldman Sachs. Mr. Rubinson is a shareholder of the firm and holds the CFA designation.


Lucinda I. Johns

Manager

Start Date

Mar 30, 2012

Tenure

4.59

Tenure Rank

4.0%

Lucinda I. Johns, Vice President — Ms. Johns received her B.A. degree (magna cum laude) from Williams College in 1996 and her M.B.A. degree from the UCLA Anderson School of Management in 2004. Prior to graduate school, she worked for approximately two years each at Merrill Lynch as a financial analyst, Dodge & Cox as a research assistant, and NBC Internet as a Senior Product Manager. Ms. Johns rejoined Dodge & Cox in 2004. She is a shareholder of the firm and a CFA charterholder.


Diana S. Strandberg

Manager

Start Date

Jan 01, 2005

Tenure

11.84

Tenure Rank

1.3%

Ms. Strandberg graduated from the University of California, Berkeley, in 1981 (Phi Beta Kappa) and received her M.B.A. degree from the Harvard School of Business Administration in 1986. After two years as a securities analyst at the First Boston Corporation, she joined Dodge & Cox in 1988. She is a shareholder of the firm and a CFA charterholder.


Wendell W. Birkhofer

Manager

Start Date

Jan 01, 2002

Tenure

14.84

Tenure Rank

0.8%

Mr. Birkhofer received his B.A. degree from Stanford University in 1978 and his M.B.A. from the Stanford Graduate School of Business in 1987. Prior to entering the M.B.A. program, he worked for six years with Wen Birkhofer & Co., an investment broker dealer firm in Los Angeles. He joined Dodge & Cox in 1987. Mr. Birkhofer is a former member of the Board of Governors of the Investment Adviser Association. He is a shareholder of the firm, a Chartered Investment Counselor, and holds the CFA designation.


C. Bryan Cameron

Manager

Start Date

Jan 01, 1992

Tenure

24.85

Tenure Rank

0.2%

Mr. Cameron received his B.A. degree in Economics from the University of California, Davis in 1980 and his M.B.A. from the Stanford Graduate School of Business in 1983. Mr. Cameron worked for Dodge & Cox for one year before entering the M.B.A. program and rejoined the firm in 1983. He is a CFA charter hodler and a shareholder of the firm.


Charles F. Pohl

Manager

Start Date

Jan 01, 1992

Tenure

24.85

Tenure Rank

0.2%

Mr. Pohl received his B.A. degree in 1980 and his M.B.A. degree in 1981 from the University of Chicago. He was with Wells Fargo Investment Advisors from 1981 until joining Dodge & Cox in 1984. Mr. Pohl is a shareholder of the firm and a CFA charterholder.


Dana M. Emery

Manager

Start Date

Jan 01, 1986

Tenure

30.85

Tenure Rank

0.0%

Dana M. Emery, Co-President and Director of Fixed Income — Ms. Emery received her B.A. degree from Stanford University in 1983. She joined Dodge & Cox in 1983. Ms. Emery is a Senior Vice President and Trustee of the Dodge & Cox Funds. She is a Director and shareholder of the firm, a Chartered Investment Counselor, and holds the CFA designation.


David C. Hoeft

Manager

Start Date

Jan 01, 2002

Tenure

14.84

Tenure Rank

0.8%

Mr. Hoeft received his B.A. degree from the University of Chicago in 1989 (Phi Beta Kappa) and his M.B.A. from the Harvard School of Business Administration in 1993. Prior to entering graduate school, he worked for two years as a consultant to the energy industry. He joined Dodge & Cox in 1993. He is a shareholder of the firm and is a CFA charterholder.


James H. Dignan

Manager

Start Date

May 01, 2002

Tenure

14.51

Tenure Rank

0.8%

James H. Dignan, Vice President — Mr. Dignan graduated from Columbia University in 1991. He received an M.A. in Economics from New York University in 1994 and his M.B.A. from Northwestern’s J.L. Kellogg Graduate School of Management in 1996. Prior to joining Dodge & Cox in 1999, he worked in portfolio management for Fannie Mae. Mr. Dignan is a shareholder of the firm and holds the CFA designation.


Thomas S. Dugan

Manager

Start Date

Jan 01, 1994

Tenure

22.85

Tenure Rank

0.2%

Mr. Dugan graduated from Brown University in 1987 with a B.A. and received his M.B.A. from the University of California at Berkeley in 1992. Before graduate school, he worked as a fixed-income securities trader for J.P. Morgan Securities. Prior to joining Dodge & Cox in 1993, he worked in the Czech Republic as an advisor to a Czech investment fund. Mr. Dugan is a shareholder of the firm and a CFA charterholder.


Larissa K. Roesch

Manager

Start Date

May 01, 1998

Tenure

18.52

Tenure Rank

0.5%

Larissa K. Roesch, Vice President — Ms. Roesch received her A.B. degree in music and mathematics from Dartmouth College in 1988 (cum laude). She received her M.B.A. from the Haas School of Business at University of California, Berkeley in 1997. Prior to graduate school, she worked for seven years in the performing arts industry. She joined Dodge & Cox in 1997. She is a shareholder of the firm and holds the CFA designation.


Kathleen G. McCarthy

Manager

Start Date

Jan 31, 2016

Tenure

0.75

Tenure Rank

6.8%

Kathleen G. McCarthy is a Vice President of Dodge & Cox since 2012.


Philippe Barret

Manager

Start Date

Feb 28, 2013

Tenure

3.67

Tenure Rank

4.6%

Mr. Barret received his B.A. degree (magna cum laude) from Washington and Lee University in 1998 and his M.B.A. degree from the Stanford Graduate School of Business in 2004. Between degrees, he worked as financial analyst at JP Morgan and American Securities Capital Partners, LLC. Mr. Barret joined Dodge & Cox in 2004. He is a shareholder of the firm and a CFA® charterholder.


Tenure Analysis

Category Low

0.0

Category High

35.9

Category Average

5.42

Category Mode

4.8