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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
Stock Fund 50.43% 12.88% 15.18% 16.13% 9.98%
S&P 500 Index   30.00%   15.99%   16.90%   16.63% 9.51%
Russell 1000 Value Index (R1000V)   35.01%   10.07%   10.94%   13.51% 8.32%
   

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.

† Investors should note that the Fund's short-term performance is highly unusual and unlikely to be sustained.

Fund Characteristics
as of September 30, 2021, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share $236.00
Total Net Assets (billions)   $91.2
Expense Ratio 0.52%
Portfolio Turnover
(1/1/21 to 6/30/21, unannualized)
9%
30-Day SEC Yield(a) 1.15%
Active Share(b) 84%
Number of Companies 67
Fund Inception   1965
 
Asset Allocation
Asset Allocation Pie Chart. Equity Securities, 99.3%. Net Cash and Other, 0.7%
Portfolio Characteristics   Fund   S&P 500   R1000V
Median Market Capitalization (billions) $48 $31 $13
Weighted Average Market
Capitalization (billions)
$223 $565 $156
Price-to-Earnings Ratio(c)   13.1x   20.8x   16.6x
Non-U.S. Securities not in
the S&P 500(d)
  10.5%   0.0%   0.0%
 
sector
diversification (%)
  Fund   S&P 500   R1000V
Financials   26.1   11.4   21.4
Health Care   19.2   13.3   17.3
Information Technology   18.4   27.6   10.2
Communications Services   14.5   11.3   8.3
Energy   8.0   2.7   5.1
Industrials   8.0   8.0   11.6
Consumer Discretionary   2.9   12.4   5.6
Consumer Staples 0.9 5.8 7.1
Materials   0.9   2.5   3.6
Real Estate   0.0   2.6   4.7
Utilities   0.0   2.5   4.9
 
ten largest equity holdings (%)(e) Fund
Wells Fargo & Co. 4.5
Capital One Financial Corp.   3.9
Alphabet, Inc.   3.9
Charles Schwab Corp.   3.9
Sanofi (France) 3.5
Comcast Corp. 2.9
Metlife, Inc. 2.8
Charter Communications, Inc.   2.5
Dell Technologies, Inc. 2.5
Johnson Controls International PLC   2.5
 

 


(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) Active share is a measure of how much an investment portfolio differs from its benchmark index, based on a scale of 0% (complete overlap with the index) to 100% (no overlap). Overlap for each security in the Fund is the lower of either its percentage weight in the Fund or its percentage weight in the S&P 500 Index. Active share is calculated as 100% minus the sum of the overlapping security weights. The active share versus the Russell 1000 Value is 83%.
(c) Price-to-earnings (P/E) ratios are calculated using 12-month forward earnings estimates from third-party sources as of the reporting period. Estimates reflect a consensus of sell-side analyst estimates, which may lag as market conditions change.
(d) Non-U.S. securities are U.S. dollar denominated.
(e) 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.
(f) Net Cash & Other includes cash, short-term investments, unrealized gain (loss) on derivatives, receivables, and payables.

*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 dividends but, unlike Fund returns, do not reflect fees or expenses.

The S&P 500 Index is a market capitalization-weighted index of 500 large-capitalization stocks commonly used to represent the U.S. equity market. The Russell 1000 Value Index is a broad-based, unmanaged equity market index composed of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. S&P 500® is a trademark of S&P Global Inc. The S&P 500 ("Index") is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Dodge & Cox. Copyright 2021 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. The Dodge & Cox Funds are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies. All rights in the Russell 1000 Value Index (the “Index”) vest in the relevant LSE Group company which owns the Index. “Russell®” is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license. The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Funds. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Funds or the suitability of the Index for the purpose to which it is being put.

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