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Average Annual Total Return*
For periods ended September 30, 2020 (updated quarterly)
    1 Year   3 Years   5 Years   10 Years   SINCE INCEPTION†
International Stock Fund   -9.43%   -5.85%   2.21%   3.13%   5.83%
MSCI EAFE Index   0.49%   0.62% 5.26% 4.62%   4.27%
   

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.

† The International Stock Fund’s inception date was May 1, 2001.

   
Fund Characteristics
as of September 30, 2020, unless otherwise noted (updated quarterly)
General Information
Net Asset Value Per Share   $35.70
Total Net Assets (billions)   $35.1
Expense Ratio   0.63%
Portfolio Turnover
(1/1/20 to 6/30/20, unannualized)
11%
30-Day SEC Yield(a)   2.01%
Active Share(b)   91%
Number of Companies   72
Fund Inception   2001
 
Asset Allocation
Portfolio Characteristics   Fund   MSCI
EAFE
Median Market Capitalization (billions)   $29   $10
Weighted Average Market
Capitalization (billions)
  $67   $63
Price-to-Earnings Ratio(c) 11.9x 17.0x
Countries Represented   23   21
Emerging Markets
(Brazil, China, India, Mexico, Peru, Russia, South Africa, South Korea, Thailand)(d)(g)
  19.8%   0.0%
region diversification
(% Market Value)
(d)(g)
  Fund   MSCI EAFE
Europe (excluding UK)   37.8   49.0
United Kingdom 15.8 13.3
Asia Pacific (excluding Japan)   14.4   11.2
Japan 13.6 25.8
United States 6.3 0.0
Latin America 4.3 0.0
Canada 3.5 0.0
Africa 2.0 0.0
Middle East 0.0 0.6
   

ten largest holdings
(% Market Value)
(d)(e)
Fund
Samsung Electronics Co., Ltd. (South Korea)   4.1
Sanofi (France)   3.3
BNP Paribas SA (France)   3.0
ICICI Bank, Ltd. (India)   2.9
UBS Group AG (Switzerland)   2.8
Mitsubishi Electric Corp. (Japan) 2.8
Credit Suisse Group AG (Switzerland) 2.8
GlaxoSmithKline PLC (United Kingdom)   2.6
Novartis AG (Switzerland)   2.6
Honda Motor Co., Ltd. (Japan)   2.5
 
*Total issuer exposure, including the notional value of total return swaps, is 2.9% for Naspers, Ltd. (South Africa). Portfolio totals may not sum to 100%.
 
sector diversification
(% Market Value)
(d)
  Fund   MSCI EAFE
Financials   26.7   15.1
Health Care 12.9 14.4
Consumer Discretionary 12.3 11.9
Information Technology   9.8   8.6
Industrials   9.6   15.2
Materials   8.3   7.6
Energy   6.6   2.8
Communication Services 6.2 5.5
Consumer Staples   2.5   11.9
Real Estate   2.1   3.1
Utilities   0.6   4.0
   
*Total sector exposure, including the notional value of total return swaps, is Consumer Discretionary at 14.2% and Communication Services at 3.8%. Portfolio totals may not sum to 100%.

 

(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 relevant index. Active share is calculated as 100% minus the sum of the overlapping security weights.
(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) Excludes derivatives.
(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, derivatives, receivables, and payables.
(g) The Fund may classify a company in a different category than the MSCI EAFE. The Fund generally classifies a company based on its country of incorporation, but may designate a different country in certain circumstances.

*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 MSCI EAFE (Europe, Australasia, Far East) Index is a broad-based, unmanaged equity market index aggregated from 21 developed market country indices, excluding the United States. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed, or produced by MSCI.

MSCI EAFE is a service mark of MSCI Barra.

Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.

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