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DODBX Dodge & Cox Balanced

  • Fund
  • DODBX
  • Price as of: May 23, 2019
  • $97.95 - $0.79 - 0.80%
  • Category
  • Diversified Portfolio

DODBX - Profile

Vitals

  • YTD Return 5.0%
  • 3 Yr Annualized Return 0.9%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $15.7 B
  • Holdings in Top 10 20.2%

52 WEEK LOW AND HIGH

$97.95
$89.91
$110.02

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.53%

SALES FEES

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

BROKERAGE FEES

  • Turnover 24.00%

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 5.0%
  • 3 Yr Annualized Total Return 8.4%
  • 5 Yr Annualized Total Return 6.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.06%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 Dana M. Emery

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 (%)
YTD 5.0% -3.6% 18.6% 82.73%
1 Yr -6.7% -27.6% 10.7% 77.52%
3 Yr 0.9%* -9.2% 14.1% 43.82%
5 Yr -0.5%* -24.5% 8.6% 40.89%
10 Yr 6.4%* -14.3% 9.7% 10.56%

* Annualized


Return Ranking - Calendar

Period DODBX Return Category Return Low Category Return High Rank in Category (%)
2018 -12.8% -34.6% 1.6% 71.15%
2017 3.5% -12.4% 33.2% 80.66%
2016 9.5% -65.8% 23.3% 6.15%
2015 -7.9% -64.9% 4.8% 68.01%
2014 4.3% -59.3% 68.3% 11.33%

Total Return Ranking - Trailing

Period DODBX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -3.6% 18.6% 83.18%
1 Yr 0.4% -25.5% 11.4% 45.92%
3 Yr 8.4%* -9.2% 14.1% 3.27%
5 Yr 6.1%* -21.8% 47.6% 4.60%
10 Yr 11.2%* -12.6% 13.3% 1.46%

* Annualized


Total Return Ranking - Calendar

Period DODBX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.7% -32.7% 1.6% 22.64%
2017 12.6% -8.4% 33.2% 36.89%
2016 16.6% -65.2% 23.3% 2.31%
2015 -2.9% -62.9% 9.2% 51.54%
2014 8.9% -28.5% 76.9% 9.37%

NAV & Total Return History

DODBX - Holdings

Concentration Analysis

DODBX Category Low Category High DODBX % Rank
Net Assets 15.7 B 608 K 144 B 3.86%
Number of Holdings 451 2 13342 26.50%
Net Assets in Top 10 3.08 B -752 M 26.4 B 11.01%
Weighting of Top 10 20.22% 0.0% 3196.0% 81.28%

Top 10 Holdings

  1. Comcast Corp Class A 2.66%

  2. Wells Fargo & Co 2.29%

  3. Charter Communications Inc A 2.23%

  4. Microsoft Corp 1.98%

  5. FedEx Corp 1.96%

  6. Alphabet Inc Class C 1.95%

  7. Charles Schwab Corp 1.88%

  8. Capital One Financial Corp 1.86%

  9. Bank of America Corporation 1.74%

  10. Novartis AG ADR 1.68%


Asset Allocation

Weighting Return Low Return High DODBX % Rank
Stocks
60.80% -18.54% 99.89% 34.85%
Bonds
34.25% -342.57% 261.66% 59.20%
Cash
4.40% -285.07% 453.71% 48.77%
Convertible Bonds
0.28% -0.09% 39.88% 39.85%
Preferred Stocks
0.27% 0.00% 65.70% 31.75%
Other
0.00% -253.31% 51.84% 74.57%

Stock Sector Breakdown

Weighting Return Low Return High DODBX % Rank
Financial Services
15.71% -0.38% 47.66% 5.00%
Healthcare
13.16% -2.72% 24.64% 2.03%
Technology
11.36% -9.43% 28.91% 31.46%
Communication Services
6.02% -0.92% 7.52% 0.57%
Energy
5.93% -2.23% 32.61% 11.33%
Industrials
4.86% -0.28% 27.79% 52.91%
Consumer Cyclical
2.63% -10.37% 33.33% 78.54%
Consumer Defense
0.59% -1.62% 18.58% 89.68%
Basic Materials
0.55% -1.52% 21.64% 87.53%
Utilities
0.00% -0.60% 23.50% 92.15%
Real Estate
0.00% -3.85% 73.69% 92.85%

Stock Geographic Breakdown

Weighting Return Low Return High DODBX % Rank
US
52.98% -20.21% 124.70% 23.34%
Non US
7.82% -91.46% 98.02% 62.30%

Bond Sector Breakdown

Weighting Return Low Return High DODBX % Rank
Corporate
17.44% 0.00% 93.54% 40.67%
Securitized
13.44% 0.00% 43.20% 27.58%
Cash & Equivalents
4.40% -278.69% 455.04% 44.47%
Government
3.16% -203.24% 254.66% 81.15%
Municipal
0.76% 0.00% 99.76% 11.83%
Derivative
0.00% -190.53% 70.06% 32.64%

Bond Geographic Breakdown

Weighting Return Low Return High DODBX % Rank
US
29.73% -337.34% 210.96% 54.27%
Non US
4.52% -84.44% 144.19% 45.48%

DODBX - Expenses

Operational Fees

DODBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.00% 11.64% 78.05%
Management Fee 0.50% 0.00% 2.50% 54.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.83% 47.70%

Sales Fees

DODBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.14% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

DODBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.11% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 24.00% 0.00% 6067.00% 34.66%

DODBX - Distributions

Dividend Yield Analysis

DODBX Category Low Category High DODBX % Rank
Dividend Yield 0.01% 0.00% 0.31% 61.73%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

DODBX Category Low Category High DODBX % Rank
Net Income Ratio 2.06% -4.09% 6.99% 30.99%

Capital Gain Distribution Analysis

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

DODBX - Managers

Dana M. Emery

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 1986

33.35

33.4%

Ms. Emery received her B.A. degree from Stanford University in 1983. She joined Dodge & Cox in 1983. Ms. Emery is President and a Trustee of the Dodge & Cox Funds. She is a Director and shareholder of the firm, a CFA charterholder, and a Chartered Investment Counselor.


C. Bryan Cameron

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 1992

27.35

27.4%

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 shareholder of the firm and a CFA charterholder.


Charles F. Pohl

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 1992

27.35

27.4%

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 Chairman and a Trustee of the Dodge & Cox Funds. He is a Director and shareholder of the firm and a CFA charterholder.


Thomas S. Dugan

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 1994

25.34

25.3%

Mr. Dugan received his B.A. from Brown University in 1987 and his M.B.A. from the University of California, 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 Director and shareholder of the firm and a CFA charterholder.


Larissa K. Roesch

Manager

Start Date

Tenure

Tenure Rank

May 01, 1998

21.01

21.0%

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


Wendell W. Birkhofer

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2002

17.34

17.3%

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 CFA charterholder, and a Chartered Investment Counselor.


David C. Hoeft

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2002

17.34

17.3%

Mr. Hoeft received his B.A. degree (Phi Beta Kappa) from the University of Chicago in 1989 and his M.B.A. from the Harvard Business School 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 Director and shareholder of the firm and a CFA charterholder.


James H. Dignan

Manager

Start Date

Tenure

Tenure Rank

May 01, 2002

17.01

17.0%

Mr. Dignan graduated from Columbia University in 1991 with an A.B. in Philosophy / Economics. 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 a CFA charterholder.


Diana S. Strandberg

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2005

14.33

14.3%

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


Steven C. Voorhis

Manager

Start Date

Tenure

Tenure Rank

May 01, 2006

13.01

13.0%

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 a CFA charterholder.


Tenure Analysis

Category Low

0.0

Category High

38.35

Category Average

6.56

Category Mode

6.95