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 performance data discussed in a video. Standardized performance as of the most recent quarter end and monthly updates to performance are accessible from the Performance & Prices page.

Statements in the above presentations represent the opinions of the speakers expressed at the time the presentation was recorded, and may change without notice based on market and other conditions. The statements are not a complete analysis of every material fact concerning any market, industry, or investment, and are not intended to forecast future events, guarantee future results, or serve as investment advice.

Fixed income security prices may decline due to rising interest rates. Fixed income securities with longer maturities are generally subject to potentially greater price volatility than obligations with shorter maturities. The average maturity and effective duration of the Dodge & Cox Income Fund’s portfolio at any given time depends, in part, on Dodge & Cox’s assessment of economic and market conditions and the relative yields of securities in the marketplace and Dodge & Cox’s expectation regarding the future level of inflation and interest rates. Dodge & Cox normally invests in an array of securities with short, intermediate, and long maturities in varying proportions.

Information provided is historical, does not predict future results or profitability, and is subject to change without notice. This is not a recommendation to buy or sell any security and is not indicative of Dodge & Cox’s current or future trading activity. Any securities identified do not represent an account’s entire holdings; holdings are subject to change at any time without notice.

Investment in mutual funds involves risk, including possible loss of principal invested.