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DODIX Dodge & Cox Income

  • Fund
  • DODIX
  • Price as of: Jun 21, 2019
  • $13.97 - $0.01 - 0.07%
  • Category
  • Total Bond Market

DODIX - Profile

Vitals

  • YTD Return 5.4%
  • 3 Yr Annualized Return 0.6%
  • 5 Yr Annualized Return 0.0%
  • Net Assets $58.6 B
  • Holdings in Top 10 9.9%

52 WEEK LOW AND HIGH

$13.97
$13.20
$13.98

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.42%

SALES FEES

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

BROKERAGE FEES

  • Turnover 37.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Core-Plus Bond

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 3.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.02%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Dodge & Cox Income Fund
  • Fund Family Name Dodge & Cox
  • Inception Date Jan 03, 1989
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Dana M. Emery

Fund Description

The Dodge & Cox Income Fund (DODIX) is a fixed-income fund that is actively managed. DODIX looks to provide a high level of current income by investing in a variety of high-quality bonds and debt issues. These include treasuries, mortgage-backed securities, corporate bonds and municipal bonds. DODIX can also invest in floating-rate bonds and hold up to 20% of its portfolio in noninvestment-grade bonds.

Ultimately, DODIX is a low-cost option for investors seeking a core bond holding for their portfolio. The fund is internally managed by Dodge & Cox’s standard investment committee process.

DODIX - Performance

Return Ranking - Trailing

Period DODIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -3.3% 10.0% 14.79%
1 Yr 3.9% -16.1% 6.8% 31.56%
3 Yr 0.6%* -4.3% 44.5% 18.63%
5 Yr 0.0%* -6.2% 23.5% 28.73%
10 Yr 1.2%* -7.3% 15.9% 33.29%

* Annualized


Return Ranking - Calendar

Period DODIX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.6% -22.2% 3.1% 63.02%
2017 1.3% -5.1% 25.1% 42.92%
2016 2.3% -8.5% 192.8% 18.59%
2015 -3.6% -33.0% 3.0% 68.07%
2014 1.8% -29.8% 32.1% 34.50%

Total Return Ranking - Trailing

Period DODIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -3.3% 10.5% 13.99%
1 Yr 6.5% -16.1% 9.6% 4.92%
3 Yr 3.5%* -4.3% 49.7% 4.97%
5 Yr 3.1%* -3.8% 28.8% 3.52%
10 Yr 4.8%* -7.3% 18.7% 6.57%

* Annualized


Total Return Ranking - Calendar

Period DODIX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -22.2% 7.9% 10.93%
2017 4.4% -4.6% 25.1% 12.13%
2016 5.6% -4.1% 204.3% 7.67%
2015 -0.6% -32.4% 4.2% 22.81%
2014 5.5% -29.8% 32.1% 8.20%

NAV & Total Return History

DODIX - Holdings

Concentration Analysis

DODIX Category Low Category High DODIX % Rank
Net Assets 58.6 B 337 K 218 B 1.73%
Number of Holdings 1100 3 17333 21.32%
Net Assets in Top 10 5.7 B -1.98 B 29.3 B 4.06%
Weighting of Top 10 9.89% 4.0% 1535.2% 88.07%

Top 10 Holdings

  1. United States Treasury Notes 2.5% 1.23%

  2. Federal National Mortgage Association 4.5% 1.14%

  3. Imperial Tobacco Finance plc 4.25% 1.05%

  4. United States Treasury Notes 3% 1.02%

  5. United States Treasury Notes 2.75% 1.01%

  6. Federal National Mortgage Association 5% 0.97%

  7. Verizon Communications Inc. 5.01% 0.91%

  8. Charter Communications Operating, LLC/Charter Communications Operating Capi 0.88%

  9. United States Treasury Notes 2.38% 0.87%

  10. Citigroup Capital XIII Floating Rate Trust Pfd Secs Registered 2010-30.10.4 0.81%


Asset Allocation

Weighting Return Low Return High DODIX % Rank
Bonds
94.53% -248.60% 340.77% 53.16%
Cash
3.69% -246.66% 358.29% 47.24%
Convertible Bonds
0.97% 0.00% 18.42% 25.58%
Preferred Stocks
0.81% 0.00% 20.33% 8.06%
Stocks
0.00% -0.99% 97.68% 60.43%
Other
0.00% -98.75% 57.15% 60.03%

Bond Sector Breakdown

Weighting Return Low Return High DODIX % Rank
Corporate
43.25% 0.00% 128.48% 34.05%
Securitized
42.12% 0.00% 102.58% 31.24%
Government
7.79% -91.96% 178.24% 75.97%
Cash & Equivalents
3.69% -547.52% 359.78% 44.19%
Municipal
3.16% 0.00% 102.07% 9.48%
Derivative
0.00% -207.30% 299.06% 51.60%

Bond Geographic Breakdown

Weighting Return Low Return High DODIX % Rank
US
79.37% -245.97% 218.41% 63.56%
Non US
15.16% -108.37% 122.36% 32.78%

DODIX - Expenses

Operational Fees

DODIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.42% 0.00% 38.42% 90.21%
Management Fee 0.40% 0.00% 2.15% 51.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.00% 0.63% 38.06%

Sales Fees

DODIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

DODIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

DODIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 0.00% 2337.00% 17.06%

DODIX - Distributions

Dividend Yield Analysis

DODIX Category Low Category High DODIX % Rank
Dividend Yield 0.02% 0.00% 6.64% 53.53%

Dividend Distribution Analysis

DODIX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

DODIX Category Low Category High DODIX % Rank
Net Income Ratio 3.02% -2.82% 7.22% 24.18%

Capital Gain Distribution Analysis

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

DODIX - Managers

Dana M. Emery

Manager

Start Date

Tenure

Tenure Rank

Jan 03, 1989

30.42

30.4%

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.


Thomas S. Dugan

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 1994

25.43

25.4%

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

Jan 01, 1998

21.42

21.4%

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.


James H. Dignan

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2002

17.42

17.4%

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.


Anthony J. Brekke

Manager

Start Date

Tenure

Tenure Rank

May 01, 2008

11.09

11.1%

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 a CFA charterholder.


Adam S. Rubinson

Manager

Start Date

Tenure

Tenure Rank

Feb 15, 2010

9.29

9.3%

Mr. Rubinson received his B.A. degree (summa cum laude) from Columbia College in 1988 and 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 a CFA charterholder.


Lucinda I. Johns

Manager

Start Date

Tenure

Tenure Rank

Mar 30, 2012

7.17

7.2%

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.


Nils M. Reuter

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2018

1.33

1.3%

Mr. Reuter received B.A. degrees from Brown University in Biology and Sociology in 2001 and his M.B.A. (with honors) from the Haas School of Business at the University of California, Berkeley in 2016. He joined Dodge & Cox in 2003. Mr. Reuter is a shareholder of the firm and CFA charterholder.


Michael Kiedel

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2018

1.33

1.3%

Mr. Kiedel received his B.A. degree (cum laude) from Harvard College in Economics in 1998 and his M.B.A. from the Stanford Graduate School of Business in 2008. Prior to entering graduate school, Mr. Kiedel worked in Deutsche Bank’s technology investment banking group and then as a specialty finance entrepreneur. He joined Dodge & Cox in 2008. Mr. Kiedel is a shareholder of the firm and a CFA charterholder.


Tenure Analysis

Category Low

0.0

Category High

30.43

Category Average

6.96

Category Mode

7.04