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Average Annual Total Return*
For periods ended September 30, 2021 (updated quarterly)
    1 Year   3 Years   5 Years   10 Years   20 Years
Income Fund 1.99% 6.23% 4.19% 4.25% 5.04%
Bloomberg U.S. Aggregate Bond Index   -0.90%   5.36%   2.94%   3.01%   4.33%
   

Returns represent past performance and do not guarantee future results. Investment return and share price will fluctuate with market conditions, and investors may have a gain or loss when shares are sold. Mutual fund performance changes over time and currently may be significantly lower than stated above. Monthly updates to performance are accessible from the Performance & Prices page.

   
Fund Characteristics
as of September 30, 2021, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share $14.28
Total Net Assets (billions)   $72.3
Expense Ratio  0.42%
Portfolio Turnover Rate
(1/1/21 to 6/30/21, unannualized)
  43%
30-Day SEC Yield(a) 1.35%
Number of Credit Issuers 67
Fund Inception   1989
 
ASSET ALLOCATION   Fund  
Debt Securities   103.5%    
Net Cash & Other(d)   -3.5%    
 
Portfolio Characteristics   Fund   BBG
U.S. Agg
Effective Duration (years)   5.1   6.7

five largest
Credit Issuers (%)(b)
  fund
Charter Communications, Inc.   2.3
Petroleos Mexicanos   1.9
Ford Motor Credit Co. LLC   1.8
HSBC Holdings PLC   1.7
JPMorgan Chase & Co.   1.4
 
Sector
Diversification (%)
  Fund   BBG
U.S. Agg
U.S. Treasury 24.9 38.5
Government-Related   4.7   5.6
Securitized   41.2   29.7
Corporate   32.7   26.1
Net Cash & Other(d)   -3.5   0.0
 

Credit Quality (%)(c)
Fund BBG
U.S. Agg
U.S. Treasury/Agency/GSE   60.3   68.2
AAA   1.7   3.4
AA   4.3   3.0
A   4.8   11.3
BBB   21.7   14.1
BB   10.8   0.0
B 0.0 0.0
CCC 0.0(e) 0.0
Net Cash & Other(d)   -3.5   0.0
 
Maturity
Diversification
(%)
  Fund   BBG
U.S. Agg
0-1 Years to Maturity   0.1   0.0
1-5   38.6   41.5
5-10   44.8   39.0
10-15   3.1   1.6
15-20   5.2   4.7
20-25   1.6   4.6
25 and Over   6.6   8.6

 

Market values for debt securities include accrued interest.
(a) SEC Yield is an annualization of the Fund’s net investment income for the trailing 30-day period. Dividends paid by the Fund may be higher or lower than implied by the SEC Yield.
(b) The Fund’s portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation to buy, sell, or hold any particular security and is not indicative of Dodge & Cox’s current or future trading activity.
(c) The credit quality distributions shown for the Fund and the Index are based on the middle of Moody’s, S&P, and Fitch ratings, which is the methodology used by Bloomberg in constructing its indices. If a security is rated by only two agencies, the lower of the two ratings is used. Please note the Fund applies the highest of Moody’s, S&P, and Fitch ratings to determine compliance with the quality requirements stated in its prospectus. On that basis, the Fund held 7.4% in securities rated below investment grade.The credit quality of the investments in the portfolio does not apply to the stability or safety of the Fund or its shares.
(d) Net Cash & Other includes cash, short-term investments, unrealized gain (loss) on derivatives, receivables, and payables. Assets to cover payables for forward settle TBA mortgage security purchases are invested in short-maturity U.S. Treasuries.
(e) Rounds to 0.0%.

*The Fund's total returns include the reinvestment of dividend and capital gain distributions, but have not been adjusted for any income taxes payable by shareholders on these distributions or on Fund share redemptions. Index returns include interest income but, unlike Fund returns, do not reflect fees or expenses. The Bloomberg U.S. Aggregate Bond Index (BBG U.S. Agg) is a widely recognized, unmanaged index of U.S. dollar-denominated investment-grade fixed income securities.

Source: Bloomberg Index Services Limited. BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Bloomberg does not approve or endorse this material, or guarantee the accuracy or completeness of any information herein, or make any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

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